Diamond Hill Investment Group, Inc. (DHIL) M&A Call Transcript

Diamond Hill Investment Group, Inc. ( DHIL ) M&A Call December 17, 2025 2:00 PM EST Company Participants Heather Brilliant - CEO & Director Austin Hawley Henry Song - Portfolio Manager Presentation Heather Brilliant CEO & Director Hi, everyone. Thank you for joining us. Here with me today are Austin Hawley and Henry Song. As you all know, last week, we announced that Diamond Hill has entered into an agreement to be acquired by First Eagle. Today, we'd like to tell you more about the transaction, why we're taking this step and what it means for you, our clients. We'll also be answering a few questions. Let me start by telling you a little about First Eagle and why we think they're a good fit for Diamond Hill. First Eagle is an independent fundamentally driven investment management firm with more than $170 billion in assets under management. They have a 160-year history and strong global reputation for stewardship and prioritizing client interests. They are best known for their global value capability, a multi-asset strategy that utilizes equities, cash, gold and currencies, and they offer a range of actively managed strategies across equity and equity-oriented public and private credit, multi-asset and alternatives asset classes. They also have an extensive global distribution capability. First Eagle over time has deliberately sought to nurture an investment-led culture supported by a set of core investment tenants that encourage philosophical autonomy among its portfolio management teams in pursuit of client goals. They recognize that Diamond Hill is well aligned with this approach. Diamond Hill will expand First Eagle's footprint in traditional fixed income, and our U.S.-focused multi-cap equity platform represents a strong complement to First Eagle's existing global value and small-cap teams. I want to emphasize that this transaction will be seamless for you in terms of your relationship with us. Our dedication

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