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Disclosures:

References to companies presented for illustrative purposes only. Uber is a current holding in Select Growth and Global Growth. AirBNB is a current holding in Select Growth and Technology Innovators. DoorDash is a current holding in Select Growth, Global Growth and Technology Innovators.

The views expressed are the opinion of Sands Capital Management and are not intended as a forecast, a guarantee of future results, investment recommendations, or an offer to buy or sell any securities. The views expressed were current as of 6/17/2021 and are subject to change. This material may contain forward-looking statements, which are subject to uncertainty and contingencies outside of Sands Capital’s control. Readers should not place undue reliance upon these forward-looking statements. There is no guarantee that Sands Capital will meet its stated goals. Past performance is not indicative of future results. The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for advisory clients. There is no assurance that any securities discussed will remain in the portfolio or that securities sold have not been repurchased. You should not assume that any investment is or will be profitable. PT 20210121

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