25%50%75%100%9/30/20Lowest QuintileSCV outperformed SCGby 9.6% annualized in the subsequent 3 year periodValue trades at a large discountValue trades at a small discount/premiumValue trades at an average discount12/31/199/30/21Wentfrom 30thto 1st percentileWentfrom 1stto 14th percentileTRAILING P/ERUSSELL 2000 VALUE DIVIDED BY RUSSELL 2000 GROWTH1/31/1995 TO 9/30/2021