Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

China Foods

Market Cap: HK$7.8b

An investment holding company, manufactures, distributes, markets, and sells Coca-Cola series products in the People’s Republic of China.

Trajan Group Holdings

Market Cap: AU$140.2m

Develops, manufactures, and sells analytical and life science products and devices in Malaysia, Japan, Australia, New Zealand, the United States, Europe, the Middle East, Africa, and India.

Aeon (M) Bhd

Market Cap: RM 1.8b

Operates and manages a retail chain of departmental stores and supermarkets in Malaysia.

CapitaLand Malaysia Trust

Market Cap: RM 2.1b

CapitaLand Malaysia Trust (CLMT) is a real estate investment trust (REIT) and was listed on the Main Market of Bursa Malaysia Securities Berhad on 16 July 2010.

Transcontinental

Market Cap: CA$1.7b

Engages in the flexible packaging business in Canada, the United States, Latin America, the United Kingdom, and internationally.

Tenaga Nasional Berhad

Market Cap: RM 76.9b

Engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally.

Ag Growth International

Market Cap: CA$791.7m

Manufactures and distributes equipment for bulk agriculture commodities worldwide.

ACT Energy Technologies

Market Cap: CA$160.2m

Provides directional drilling services to oil and natural gas companies in Canada and the United States.

Huron Consulting Group

Market Cap: US$2.2b

Provides consultancy and managed services in the United States and internationally.

Grafton Group

Market Cap: €1.7b

Distributes and sells building materials and construction related products in Ireland, the United Kingdom, the Netherlands, Finland, and Spain.

Asahi Group Holdings

Market Cap: €2.8t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Stingray Group

Market Cap: €666.3m

Operates as a music, media, and technology company in Canada, the United States, and internationally.

Indofood Sukses Makmur

Market Cap: €65.4t

Operates as a food solutions company in Indonesia, the Middle East, Africa, rest of Asia, internationally.

Chorus Aviation

Market Cap: CA$550.8m

Through its subsidiaries, provides aviation services.

Casta Diva Group

Market Cap: €11.8m

Operates as a communication company in Italy and internationally.

Huhtamäki Oyj

Market Cap: €3.2b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.

McEwen

Market Cap: CA$624.9m

Engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina.

Sangoma Technologies

Market Cap: US$285.5m

Develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications in the United States of America and internationally.

Diebold Nixdorf

Market Cap: US$2.2b

Engages in the automating, digitizing, and transforming the way people bank and shop worldwide.

Surgery Partners

Market Cap: US$2.9b

Owns and operates a network of surgical facilities and ancillary services in the United States.

Highwood Asset Management

Market Cap: CA$78.3m

Together with its subsidiary, operates as an oil and gas exploration and production company in Canada.

Ero Copper

Market Cap: CA$2.0b

Engages in the exploration, development, and production of mining projects in Brazil.

Bidvest Group

Market Cap: €80.5b

An investment holding company, engages in services, trading, and distribution businesses in South Africa and internationally.

Valeura Energy

Market Cap: €854.1m

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

Colabor Group

Market Cap: CA$73.5m

Colabor Group Inc., together with its subsidiaries, markets, distributes, and wholesales food and food-related products in Canada.

Robert Walters

Market Cap: €102.0m

Provides professional recruitment consultancy services worldwide.

Angel Oak Mortgage REIT

Market Cap: US$234.3m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

Torex Gold Resources

Market Cap: US$3.9b

Operates as an intermediate gold producer.

Vestis

Market Cap: US$617.0m

Provides uniform rentals and workplace supplies in the United States and Canada.

Universal Health Services

Market Cap: US$11.6b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

XP

Market Cap: US$9.6b

Provides financial products and services in Brazil.

ACI Worldwide

Market Cap: US$5.1b

Develops, markets, installs, and supports software products and services for facilitating electronic payments in the United States and internationally.

Plumas Bancorp

Market Cap: US$301.4m

Operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses and individuals in California, Nevada, and Oregon.

Mattel

Market Cap: US$5.9b

A toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Xerox Holdings

Market Cap: US$500.8m

Operates as a workplace technology company that integrates hardware, services, and software for enterprises in North America, Latin America, Europe, the Middle East, Africa, India, and internationally.