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HOWARD B. SCHOW Mr. Schow co-founded PRIMECAP Management Company in September 1983. Previously, he spent twenty-seven years with the Capital Group, Inc., most recently as Chairman of the Board of Capital Research and Management Company. From 1966 to 1982, he served as Chairman of the Investment Committee. He was President, a Founder, and Lead Portfolio Counselor of AMCAP Fund. He was also a portfolio counselor of Investment Company of America and American Mutual Fund, two other mutual funds managed by Capital Research and Management Company. He has been a portfolio counselor since 1962. Mr. Schow is a graduate of Williams College and the Harvard Graduate School of Business Administration. He is a member of the New York Society of Security Analysts and the Los Angeles Society of Financial Analysts. MITCHELL J. MILIAS Mr. Milias co-founded PRIMECAP Management Company in September 1983. Previously, he was a portfolio manager, Senior Vice President, and Director of Capital Guardian Trust Company. He has been a portfolio manager since 1967. A graduate of Stanford University and Harvard Graduate School of Business Administration, he is a Chartered Financial Analyst, a member of the Los Angeles Society of Financial Analysts, and a Past President of the Denver Society of Security Analysts. THEO A. KOLOKOTRONES Mr. Kolokotrones co-founded PRIMECAP Management Company in September 1983. He spent six years at Capital Research Company, most recently as Senior Vice President. He has held portfolio management responsibilities since 1979. From 1970 to 1977, he was Vice President and Senior Financial Analyst at Smith Barney, Harris Upham and Company in New York. Mr. Kolokotrones is a graduate of the University of Chicago and the Harvard Graduate School of Business Administration. JOEL P. FRIED Mr. Fried joined PRIMECAP Management Company in June 1986. Prior to joining PRIMECAP, he spent one year as a financial analyst with Hughes Investment Management Company, a wholly-owned subsidiary of Hughes Aircraft. Mr. Fried received his undergraduate degree in Economic Systems/Science from the University of California, Los Angeles and is a graduate of UCLA Anderson School of Management. ALFRED W. MORDECAI Mr. Mordecai joined PRIMECAP Management Company in August 1997. In 1996, he was an associate at McKinsey and Company. From 1990 to 1995, he worked as a nuclear engineer and program manager for the Naval Nuclear Propulsion Directorate, a joint U.S. Navy and Department of Energy organization. Mr. Mordecai graduated with a degree in Mechanical Engineering from Duke University. He has a master's degree in Systems Engineering from Virginia Polytechnic Institute and State University and is a graduate of the Harvard Graduate School of Business Administration. DAVID H. VAN SLOOTEN Mr. Van Slooten joined PRIMECAP Management Company in July 1996. Previously, he spent five years with KPMG Peat Marwick's Corporate Finance Group, most recently as Director. From 1987 to 1990, he worked for Deloitte & Touche where he was a certified public accountant. Mr. Van Slooten is a graduate of Brigham Young University and Northwestern University's J.L. Kellogg Graduate School of Management. M. MOHSIN ANSARI Mr. Ansari joined PRIMECAP Management Company in July 2000. In 1999, he was an associate at Andersen Consulting. From 1994 to 1998, he worked at Weyerhaeuser Company on various assignments ranging from managing capital projects to coordinating production at mills. Mr. Ansari graduated from Colgate University with a bachelor's degree in Physics and from Washington University with a bachelor's degree in Chemical Engineering. Mr. Ansari is also a graduate of the Harvard Graduate School of Business Administration. JOHN C. WANG Mr. Wang joined PRIMECAP Management Company in August 2001. From 1998 to 2001, he was an equity analyst at the Government of Singapore Investment Corporation, where he followed the financial services sector. Previously, Mr. Wang spent eight years as a management consultant at First Manhattan Consulting Group and Booz-Allen & Hamilton. Mr. Wang graduated from Harvard College with a bachelor's degree in Applied Mathematics. He is also a graduate of the Wharton Graduate School of Business at the University of Pennsylvania and is a CFA charterholder. EUNHAK BAE Ms. Bae joined PRIMECAP Management Company in August 2001. In 2000, she was a manager in the New Ventures Group at Lucent. From 1997 to 1999, she worked at CIBC Oppenheimer as an equity analyst covering the semiconductor capital equipment industry. Ms. Bae graduated from Williams College with a bachelor's degree in English Literature and is a graduate of the Harvard Graduate School of Business Administration. BALTEJ S. KOCHAR Mr. Kochar joined PRIMECAP Management Company in January 2004. Previously, he spent five years running small companies in the Internet and direct marketing industries. From 1993 to 1995 and 1997 to 1998, he was a consultant at The Boston Consulting Group, where he led client teams in operations and strategy engagements at corporations in the consumer products, independent power, insurance, and defense industries. Mr. Kochar holds bachelor's degrees from The Wharton School and Engineering School of the University of Pennsylvania and is a graduate of the Harvard Graduate School of Business Administration. ANIL GOPALA Mr. Gopala joined PRIMECAP Management Company in May 2005. In 2004, he was an associate at Deutsche Bank. Previously, he spent five years with the consulting firm Charles River Associates. From 1996 to 1999, he was a consultant at A.D. Little. Mr. Gopala holds an MBA from MIT-Sloan, a master's degree in Chemical Engineering from MIT, and a bachelor's from Indian Institute of Technology-Madras. He is also a CFA charterholder. JAMES K. MARCHETTI Mr. Marchetti joined PRIMECAP Management Company in September 2005. In 2004, he worked as a product analyst in Fidelity's Strategic Investments group. From 1996 to 2003, he ran the software division of Intellisense, a start-up acquired by Corning Inc. in 2001. Mr. Marchetti holds an MBA degree from MIT-Sloan and a bachelor's degree in Chemical Engineering, also from MIT, where he completed a thesis focused on recombinant protein recovery and purification techniques. GREGORY T. MOLINELLI Mr. Molinelli joined PRIMECAP Management Company in March 2008. From 2005 to 2008, he was an equity analyst at GSO Capital Partners and Trust Company of the West where he followed the industrial sector. Previously, Mr. Molinelli was a financial analyst in the investment banking division of Banc of America Securities. Mr. Molinelli holds a bachelor's degree in economics from Tufts University and an MBA from the Stanford Graduate School of Business. ROBERT P. PETRIE Mr. Petrie joined PRIMECAP Management Company in August 2009. From 2006 to 2009, he was an equity analyst at Fidelity Management & Research where he followed the consumer staples and consumer discretionary sectors. Previously, Mr. Petrie was a financial analyst at MFS Investment Management. Mr. Petrie holds a bachelor's and a master's degree in economics from Boston University and an MBA from the Amos Tuck School of Business at Dartmouth College. JOHN T. CLOUD Mr. Cloud joined PRIMECAP Management Company in January 2006. In 2005, he was a managing equity trader for American Express Asset Management. From 1997 to 2005, he worked as a sector trading head for AIM Investments. Previously, he has also worked as an equity trader at Morgan Stanley Investment Management and as a stock specialist at Andover Securities. Mr. Cloud graduated from Texas Christian University with a bachelor's degree in Criminal Justice. MICHAEL P. WALSH Mr. Walsh joined PRIMECAP Management Company in June 2008. For the previous five years, Mr. Walsh was a Senior Vice President for Institutional Equity Sales with Imperial Capital. From 2000 - 2003, he was a Vice President with JP Morgan Securities in Los Angeles. From 1984 - 2000, Mr. Walsh worked for Schroder Wertheim, most recently as a Director, Institutional Equity Sales Trading. DOUGLAS E. McCRARY Mr. McCrary joined PRIMECAP Management Company in June of 2007. From 2001 to 2007 he managed domestic and international institutional relationships at Payden & Rygel. Mr. McCrary received his undergraduate degree in Economics and Government from Claremont McKenna College. He is also a graduate of the Marshall School of Business at the University of Southern California. KAREN CHEN Ms. Chen joined PRIMECAP Management Company in October 2004. From 1997 to 1999 and 2002 to 2004, she worked in the operations area of PIMCO in various capacities, most recently as a Team Lead of the Compliance Department. She also worked as a treasury intern at the Walt Disney Company and a management consultant at Trinity Consulting. Ms. Chen graduated from UCLA with a bachelor's degree in Business Economics and holds an MBA from the USC Marshall School of Business. BENJAMIN F. HAMMON Mr. Hammon served as an officer in the United States Air Force from 1958 to 1961. He spent thirty-six years with Salomon Smith Barney and retired in 1998 as Director-Institutional Sales. From 1993 to 1995, he was a member of the National Association of Securities Dealers District #2 Committee. Mr. Hammon is a graduate of the University of California at Berkeley and the Harvard Graduate School of Business Administration. WAYNE H. SMITH Mr. Smith is the retired Vice President of Financial Services and Treasurer of Avery Dennison Corporation. During his career at Avery, his responsibilities included treasury, tax, risk management, accounts receivable management, and investor relations. Prior to joining Avery in 1979, he was Assistant Treasurer of International Finance for The Quaker Oats Company in Chicago, Illinois. Earlier, he was associated with The Dow Chemical Company in Midland, Michigan as operations analyst and later as manager of Credit and Collections for Dow Chemical Latin America in Coral Gables, Florida. He graduated from the University of Michigan with a bachelor's degree in Industrial Engineering and from the Harvard Graduate School of Business Administration. JOSEPH G. UZELAC Mr. Uzelac is the retired Managing Director of Institutional Equity Sales for Lehman Brothers, West Coast Region. Mr. Uzelac's investment career spanned 38 years in San Francisco and included association with Bache & Company, L.F. Rothschild, Unterberg, Towbin, and 19 years with Lehman Brothers. Mr. Uzelac served in the United States Air Force Reserve from 1966 to 1972 and graduated from the University of Utah with an Economics degree. ELIZABETH OBERSHAW Ms. Obershaw is a Managing Director at Horsley Bridge Partners, a venture capital and private equity Fund of Funds manager that she joined in 2007. Prior to that, she spent 24 years in investment management roles at Hewlett-Packard Company and was its Chief Investment Officer for 16 years. Elizabeth holds a BA from UCLA and an MBA from Stanford University. References to other mutual funds should not to be interpreted as an offer of these securities. |









