Lazard Emerging Markets Strategic Equity Portfolio Open Shares 

Typically, this Portfolio commits a minimum of 80% of its total assets to equity instruments issued by companies whose core operations are situated in developing economies. Beyond standard common shares, these equity holdings may also encompass various depositary receipts, such as American (ADRs), Global (GDRs), and European (EDRs) types. The definition of an 'emerging market country' for this portfolio aligns with all nations included in the MSCI Emerging Markets Index.