American Beacon Disclosure as Promoter for Mercer

American Beacon Partners (“American Beacon”) is a compensated promoter for Mercer Investments LLC (“Mercer”) and is not a current client of Mercer. American Beacon has entered an agreement with Mercer whereby Mercer has agreed to pay American Beacon a fee in exchange for American Beacon referring financial intermediaries, such as registered investment advisors and broker-dealers (including you), to use Mercer’s model portfolios. American Beacon may refer intermediaries to a third-party platform where Mercer’s model portfolios are available, but American Beacon is not promoting those platforms and receives no compensation from them. As a compensated promoter, American Beacon is compensated indirectly through an equal split of the aggregate management fees earned by Mercer and American Beacon from their sponsored fund assets attributable to the model portfolios, subject to certain deductions and minimums, for so long as the fund assets remain in the model portfolios.  The advisory fees charged to model portfolio investors by the underlying funds will not be affected by the compensation paid to American Beacon, because American Beacon’s compensation will be paid solely from its and Mercer’s investment management fees charged to their funds and will not result in any additional charge to you. American Beacon and its representatives may also receive non-cash compensation from Mercer, such as attendance at events, entertainment and gifts. Receipt of cash and non-cash compensation influences American Beacon’s referral of prospective users of Mercer’s model portfolios to Mercer. American Beacon is not providing investment advice or recommending an investment in Mercer’s products to you.