Welcome to another episode of SCOUT. We've produced this podcast series to give clients and friends a view into SouthernSun's investment process.

If you enjoyed a few celebratory spirits and craft cocktails over the holiday season, we think you're sure to like this SCOUT episode. Today we bring you the story of MGP Ingredients – your favorite company that you've never heard of...until now. MGP might not be a household name, but perhaps you know of some of its popular whiskey and tequila brands, such as George Remus Bourbon and El Mayor Tequila. But, it's not just spirits for MGP. The company is also a leading supplier of plant-based food products in the B2B sector. As CEO Dave Colo says, "MGP was plant-based before plant-based was cool."

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• Past performance is not indicative of future results, which may vary.
• The information contained herein may be estimates, are as of the dates indicated, and are subject to change without notice.
• The information contained herein does not constitute an offer, solicitation or recommendation of any transaction in any securities referred to herein.
• Holdings are subject to change and should not be construed as investment advice.
• References to exited positions indicates that the position has been fully liquidated from the portfolio by SouthernSun except in instances, if applicable, where a client has instructed us otherwise.
• Statements received directly from the account custodian should be regarded as the official record for a client's account.
• This information is being furnished to you for informational purposes only and should not be solely relied upon when making an investment decision.
• Any performance composite data utilized herein is used for illustrative purposes only and may not be inclusive of your account or reflective of the performance specific to your account.
• Performance data provided herein reflects the reinvestment of dividends and other earnings.
• All information has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed.
• This information is confidential, may not be reproduced or circulated in whole or in part, and is intended for institutional clients, qualified institutional buyers, professional investors or professional clients. Any transmittal of this information to individual clients, without the prior written consent of SouthernSun, is strictly prohibited.

Regulatory Disclosures:

This material is provided for informational purposes only and is only directed at persons who may lawfully receive it. You should satisfy yourself that you are lawfully permitted to receive this. This material is not intended to be relied upon as a forecast or research and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy nor is it investment advice. Past performance is not a reliable indicator of future performance.

SouthernSun Asset Management, LLC is registered with the United States Securities and Exchange Commission ("SEC") as an investment adviser.

SouthernSun Asset Management (UK) Ltd., a subsidiary of SouthernSunAsset Management LLC, is a UK domiciled limited company that is authorized and regulated by the Financial Conduct Authority.

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