Morgan, Lewis & Bockius llp1111 Pennsylvania Avenue, NWWashington, DC 20004-2541www.morganlewis.comAgreement and Plan of Reorganization • September 12th, 2023 • Advisor Managed Portfolios
This opinion is furnished to you pursuant to Section [8.4] of the Agreement. You have requested our opinions as to certain U.S. federal income tax consequences of the reorganization of the Acquiring Fund and the Target Fund that will consist of: (A) the Acquiring Fund acquiring the Assets (as such term is defined in Section 1.1(b) of the Agreement) of the Target Fund solely in exchange for (i) shares of the Acquiring Fund of equal value to the net assets of the Target Fund and (ii) the assumption of the Liabilities (as such term is defined in Section 1.1(c) of the Agreement), (B) the Target Fund immediately distributing such shares of the Acquiring Fund to shareholders of the Target Fund, and (C) followed immediately by the complete liquidation of the Target Fund, all upon the terms and conditions set forth in the Agreement (the foregoing transactions with are referred to herein as the “Reorganization”).
