INSIGHTS

On November 15, 2011

Advisors Asset Management Selected by Hatteras Funds to Distribute its Mutual Funds at Merrill Lynch and Wells Fargo

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PRESS RELEASE

MONUMENT, CO – November 15, 2011 – Advisors Asset Management (AAM), a trusted
investment solutions partner for Financial Advisors and broker-dealers, has been selected by
Hatteras Funds, a boutique alternative investment specialist providing unique alternative
investment solutions for Financial Advisors and their clients, to distribute Hatteras Funds
alternative mutual funds at Merrill Lynch and Wells Fargo.

“We are very excited about collaborating with Hatteras Funds, which offers unique alternative
investment strategies,” said Andrew Williams, President of AAM. “Our independence allows
us to partner with best-in-class investment managers like Hatteras Funds and highlight their
offerings using our distribution capabilities and wirehouse relationships.”

Hatteras Funds manages several liquid alternative mutual funds including Hatteras Alpha
Hedged Strategies Fund (Ticker: ALPHX), a multi-strategy, multi-manager fund offering daily
liquidity and position level transparency. Additionally, Hatteras Funds manages several single-strategy, multi-manager alternative mutual funds including Hatteras Long/Short Debt Fund
and Hatteras Long/Short Equity Fund.

AAM has previously entered strategic partnerships with boutique institutional asset managers,
including Bahl & Gaynor Investment Counsel, Chartwell Investment Partners, Gratry & Co,
and WisdomTree Investments, Inc.

“We are thrilled to partner with AAM,” said Brian Jacobs, CEO of Hatteras Funds. “By
combining AAM’s distribution efforts with our portfolio management expertise and alternative
investment specialists we believe, Merrill Lynch and Wells Fargo advisors will gain greater
access to liquid alternative strategies and a superior level of service.”

For more information about AAM, please contact Chris Moon at 973-850-7304 or
cmoon@jcprinc.com. For more information about Hatteras Funds, please contact Tony Kono at
973-850-7323 or tkono@jcprinc.com.

AAM is a SEC registered investment company and member FINRA/SIPC. For more information about AAM, please visit www.aam.us.com.

About Advisors Asset Management
For more than 30 years, Advisors Asset Management (AAM) has been a trusted investment
solutions partner for financial advisors and broker-dealers. AAM provides a diverse range of
innovative, high-quality products and support services that enable advisors to meet their
clients’ needs. It offers access to the fixed income markets, as well as portfolio analytics, unit
investment trusts (UITs), exchange-traded funds (ETFs), structured products, separately
managed accounts (SMAs) and alternative investments. In addition, the firm offers highly
specialized sales support services to advisors on an ongoing basis. AAM has 10 major offices
across the nation and partners with more than 90 broker-dealers and over 35,000 financial
professionals. AAM is a broker-dealer, member FINRA/SIPC and SEC-registered investment
advisor. For more information, visit www.aam.us.com.

About Hatteras Funds
Hatteras Funds provides unique alternative investment solutions for financial advisors and their
clients. We believe that all investors should have access to the same sophisticated investment
approach and superior portfolio management talent as the largest institutions. A boutique
alternative investment specialist founded in 2003, Hatteras Funds offers a suite of innovative
products designed to solve specific portfolio needs. The Raleigh, N.C.-based firm manages $2
billion in alternative investment strategies for a broad range of institutions, endowments,
pensions and high net worth individuals. For more information, please visit
www.hatterasmutualfunds.com.

CONTACT: Chris Moon
JCPR
973-850-7304
cmoon@jcprinc.com

This commentary is for informational purposes only. All investments are subject to risk and past performance is no guarantee of future results. Please see the Disclosures webpage for additional risk information at commentary-disclosures. For additional commentary or financial resources, please visit www.aamlive.com.