span style="color:#000000;font-family:Arial;font-size:9.30pt;margin-left:0%;"Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) /spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"in equity securities of mid-capitalization companies. The Portfolio will provide shareholders with at least 60 days’ prior written notice of any change in this investment policy. For this Portfolio, the sub-adviser (the “Sub-Adviser”) defines mid-capitalization companies as those companies with market capitalizations between $1 billion and $20 billion or the highest market capitalization /spanspan style="font-family:Arial;font-size:9.30pt;margin-left:0%;"included in the Russell Midcap/spanspan style="font-family:Arial;font-size:6.5pt;position:relative;top:-4.25pt;"®/spanspan style="font-family:Arial;font-size:9.30pt;" Value Index (the “Index”), whichever is higher, at the time of purchase. The market capitalization of companies within the Index will change with market conditions. As of December 31, 2023, the market capitalization of companies within the Index ranged from $270.2 million to $73.3 billion. Market capitalization is the total market value of a company's shares. The Portfolio seeks to invest in equity securities that the Sub-Adviser believes to be undervalued. Under normal market conditions, the Portfolio will only purchase securities that are traded on registered exchanges or the over-the-counter (“OTC”) market in the U.S./spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;margin-left:0%;"The Portfolio may invest in other equity securities, which include preferred stocks, convertible securities, and foreign (non-U.S.) /spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"securities, which may take the form of depositary receipts. The Portfolio also may use derivatives, which are instruments that have a value based on another instrument, exchange rate or index, as substitutes for securities in which the Portfolio can invest. The Portfolio may use futures contracts, covered call options, options on futures contracts and stock index futures and options as a substitute for securities in which the Portfolio can invest to more effectively gain targeted equity exposure from its cash position and for the purpose of reducing transaction costs and managing risk. The Portfolio may invest in real estate-related securities, including real estate investments trusts (“REITs”)./spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;margin-left:0%;"The Portfolio may invest in other investment companies, including exchange-traded funds (/spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"“ETFs”), to the extent permitted under the Investment Company Act of 1940, as amended, and the rules and regulations thereunder, and under the terms of applicable no-action relief or exemptive orders granted thereunder./spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;margin-left:0%;"The Sub-Adviser employs a bottom-up approach to stock selection, constructing portfolios based on company fundamentals, /spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"quantitative screening, and proprietary fundamental analysis. The Sub-Adviser's investment philosophy is centered on the belief that companies possessing the ability to consistently generate free cash flow led by management teams that are effective allocators of capital have the greatest potential to grow intrinsic value per share. The Sub-Adviser conducts a comprehensive analysis evaluating the business, management, and financial factors for all potential investments. The Sub-Adviser, in conjunction with their assessment of valuation, will overlay their subjective analysis of business and management factors to form a view of the stock's future potential. The research process is designed to uncover companies with predictable and durable business models deemed capable of achieving sustainable growth and to purchase them at a discount./spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;margin-left:0%;"The Sub-Adviser integrates financially material environmental, social, and governance (/spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"“ESG”) factors as part of the Portfolio’s investment process (“ESG Integration”). ESG Integration is the systematic inclusion of ESG issues in investment analysis and investment decisions. As part of its investment process, the Sub-Adviser seeks to assess the impact of ESG factors on many issuers in the universe in which the Portfolio may invest. The Sub-Adviser’s assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the Portfolio’s investments in securities and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive and securities of issuers that may be negatively impacted by such factors may be purchased and retained by the Portfolio while the Portfolio may divest or not invest in securities of issuers that may be positively impacted by such factors. In particular, ESG Integration does not change the Portfolio’s investment objectives, exclude specific types of industries or companies or limit the Portfolio’s investable universe. The Portfolio is not designed for investors who wish to screen out particular types of companies or investments or are looking for funds that meet specific ESG goals./spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;margin-left:0%;"The Sub-Adviser may sell a security due to a change in the company's fundamentals. A change in the original reason for /spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"purchase of the original investment may cause the security to be eliminated from the Portfolio. The Sub-Adviser may sell a security due to opportunity cost. As a result, a new company may displace a current holding. Finally, the Sub-Adviser may sell a security due to extreme over valuation. While the Sub-Adviser will not automatically sell when a security reaches a certain price, the attainment of an intermediary price target will trigger a re-evaluation of the company's fundamentals and future potential./spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"The Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33/spanspan style="color:#000000;font-family:Arial;font-size:6pt;position:relative;top:-2.66pt;" 1/spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"∕/spanspan style="color:#000000;font-family:Arial;font-size:6pt;"3/spanspan style="color:#000000;font-family:Arial;font-size:9.30pt;"% of its total assets./span