REZI - ClearBridge Sustainability Leaders Strategy Portfolio Manager Commentary Q1 2021

• ClearBridge is a leading global asset manager committed to active management. Research-based stock selection guides our investment approach, with our strategies reflecting the highest-conviction ideas of our portfolio managers.
• A reflation trade begun in November continued, driving a further rotation to cyclical stocks and resulting in strong relative performance of value versus growth.
• The portfolio’s modest overweights to the financials and industrials sectors also had positive impacts on performance, while solar names took a temporary cooling.
• In a hot housing market, many companies held across ClearBridge portfolios are helping make the homes of the future — back deck included — more environmentally responsible spaces.

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