Over 4000 Baron Funds' Shareholders Attend 29th Annual Baron Investment Conference Featuring Elon Musk, Kirsten Lynch, Ajei Gopal, Joel Marcus

Bruno Mars, John Mulaney, Miranda Lambert, and the Cast of Broadway's MJ Perform

The 29th Annual Baron Investment Conference today featured a live interview of Tesla TSLA CEO Elon Musk by Baron Capital Group Chairman and CEO Ron Baron, and presentations by Joel S. Marcus, Executive Chairman and Founder of Alexandria Real Estate Equities, Inc. ARE and Alexandria Venture Investments; Ajei Gopal, President and Chief Executive Officer of ANSYS, Inc. ANSS; and Kirsten Lynch, Chief Executive Officer of Vail Resorts, Inc. MTN. Over 4000 Baron Funds' shareholders attended this year's conference, the first since 2019, which took place on the stage at the Metropolitan Opera House at Lincoln Center in New York City.

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Tesla CEO Elon Musk at the 29th Annual Baron Investment Conference in New York City on November 4, 2022 (Photo: Business Wire)

"Our objective for this conference is to introduce our shareholders to the leadership of Baron Funds' portfolio companies. We are all investing in the vision of those leaders, and their ability to execute on those visions," said Mr. Baron. "We are grateful to our shareholders for taking their time to assess those leaders with us, and to hear from Baron leadership on how we are positioning in today's markets."

Shareholders of the 19 Baron Funds were invited to the all-day conference, which included presentations from leaders of businesses in which the funds have invested and sessions with Baron Funds' portfolio managers.

Baron Capital Group, at its own expense, presents the event to Baron Funds shareholders in recognition for their support and provides entertainment in appreciation. This year's surprise performer was pop star Bruno Mars, following performances earlier in the day by comedian John Mulaney, country singer Miranda Lambert, and the cast of Broadway's MJ.

CNBC's "Squawk Box" show was broadcast live from the conference, featuring interviews with Ron Baron, Matthew Desch (CEO of Iridium), Mark Hoplamazian (President & CEO of Hyatt), and Kirsten Lynch (CEO of Vail).

Afternoon sessions featured presentations by Baron executives on the Baron investment philosophy, approach and process. Mr. Baron also gave the keynote address, followed by a Q&A with conference attendees.

"At Baron, we exhaustively research the companies we invest in for long term growth. We've held some of our investments for 25-30 years, and encourage investors to think in the long term as well," said Mr. Baron. "We're delighted to treat shareholders to first-class entertainment, but for everyone on the Baron investment team, interacting with Baron funds' shareholders is the most important thing we do at the conference. We look forward to seeing everyone back next year for the 30th annual conference."

The Baron Funds' investment team includes Ron Baron, portfolio manager of Baron Growth Fund, Baron Partners Fund, Baron Focused Growth Fund, and Baron Wealth Builder Fund; Michael Baron, co-portfolio manager of Baron Partners Fund and Baron WealthBuilder Fund; David Baron, co-portfolio manager of Baron Focused Growth Fund; Cliff Greenberg, portfolio manager of Baron Small Cap Fund; Alex Umansky, portfolio manager of Baron Fifth Avenue Growth Fund, Baron Global Advantage Fund, and Baron Durable Advantage Fund; Mike Lippert, portfolio manager of Baron Opportunity Fund and co-portfolio manager of Baron Technology Fund; Andrew Peck, portfolio manager of Baron Asset Fund; Michael Kass, portfolio manager of Baron International Growth Fund, Baron Emerging Markets Fund and co-portfolio manager of Baron New Asia Fund; Jeff Kolitch, portfolio manager of Baron Real Estate Fund and Baron Real Estate Income Fund, Laird Bieger and Randy Gwirtzman, portfolio managers of Baron Discovery Fund, Neal Kaufman, portfolio manager of Baron Health Care Fund, Josh Saltman, portfolio manager of Baron FinTech Fund; Anuj Aggarwal, co-portfolio manager of Baron New Asia Fund, and Ashim Mehra, co-portfolio manager of Baron Technology Fund. Amy Chasen is director of research of Baron Capital; Linda Martinson is co-founder and president of Baron Capital.

About Baron Funds and Baron Capital Group
Baron Funds include 19 no-load mutual funds: Baron Asset Fund (BARAX; BARIX), Baron Growth Fund (BGRFX; BGRIX), Baron Small Cap Fund (BSCFX; BSFIX), Baron Opportunity Fund (BIOPX; BIOIX), Baron Fifth Avenue Growth Fund (BFTHX; BFTIX), Baron Partners Fund (BPTRX; BPTIX), Baron Focused Growth Fund (BFGFX; BFGIX), Baron Discovery Fund (BDFFX; BDFIX), Baron International Growth Fund (BIGFX; BINIX), Baron Emerging Markets Fund (BEXFX; BEXIX), Baron Global Advantage Fund (BGAFX; BGAIX), Baron Real Estate Fund (BREFX; BREIX), Baron Health Care Fund (BHCFX, BHCHX), Baron Real Estate Income Fund (BRIFX, BRIIX), Baron Wealth Builder Fund (BWBFX, BWBIX), Baron Durable Advantage Fund (BDAFX, BDAIX), Baron New Asia Fund (BNAFX, BNAIX), Baron FinTech Fund (BFINX, BNAIX), and Baron Technology Fund (BTEEK, BTECX). More information about Baron Funds is available by calling (800) 99-BARON or by visiting www.baronfunds.com. The advisor to Baron Funds is BAMCO, Inc., a unit of Baron Capital Group.

Investors should consider the investment objectives, risk, and charges and expenses of the investment carefully before investing. Baron Funds are described in prospectuses that contain this and other information about the Funds. You should carefully read the prospectus before investing. You can read, print, or download a prospectus at www.baronfunds.com/. Or call 800-99-BARON to receive a prospectus in the mail.

Risks: All investments are subject to risk and may lose value.

Portfolio holdings as a percentage of net assets as of September 30, 2022 for securities mentioned are as follows: Tesla, Inc. – Baron Opportunity Fund (5.1%), Baron Partners Fund (45.5%*), Baron Fifth Avenue Growth Fund (5.4%), Baron Focused Growth Fund (22.3%), Baron Global Advantage Fund (3.3%), Baron Technology Fund (3.4%); Alexandria Real Estate Equities, Inc. – Baron Asset Fund (0.6%), Baron Growth Fund (1.7%), Baron Partners Fund (3.2%*), Baron Focused Growth Fund (4.4%), Baron Real Estate Fund (2.8%), Baron Real Estate Income Fund (1.5%); ANSYS, Inc. – Baron Asset Fund (3.2%), Baron Growth Fund (3.5%); Vail Resorts, Inc. – Baron Asset Fund (3.3%), Baron Growth Fund (6.9%), Baron Real Estate Fund (1.2%), Baron Real Estate Income Fund (2.2%); Baron Health Care Fund (0.8%).

* % of Long Positions

Portfolio holdings may change over time.

BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).

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