b' To be successful in investing, people need to have a compass. You need to stay in the right direction. The market is fickle, it goes up and down, so its essential to believe in what youre Achieving Value Through doing. You also need to be dedicated and have a disciplined Independent Thought process. When youre doing that over the long run, history and logic suggest that works pretty well.Dave Iben, CFA Co-Chief Investment OfficerDave Iben and Lead Portfolio ManagerKopernik Global Investors, LLCTotal managed and advisory-onlyEmployee-owned with(Kopernik) is a registeredassets across private clients,broad-based equity ownershipinvestment adviser launched onendowments, public & corporate funds 100% 7/1/2013 $9 billion**As of September 2025Kopernik Global Investors, LLC|3'