Goal Planning with ESG

1. Panel Discussion on Asset Classes of Equity, Debt & Gold Speakers: Sorbh Gupta – Fund Manager, Equity Chirag Mehta – Sr. Fund Manager, Alternative Investments December 17, 2020 ESG Investing at Inflection Point 1

2. 2 About Quantum Mutual Fund Quantum Mutual fund was established in 2006 with the launch of the Quantum Long Term Equity Value Fund Quantum Mutual Fund was the 29th, but India’s 1st Fund house that started with a focus on a Low Cost Approach for investors Simple range of funds: No confusion for investors Disciplined Research and Investment Process: Team-driven, no “star” fund managers Staying the course, no short cuts: Asset Managers, not Asset Gatherers  Quantum MF AUM = Rs.1,850 Cr. as on 31st December 2020  Number of Folios: 71,099 as on 31st December 2020

3. This is one of the Fastest Growing Investment Approach Globally Data Source: 1) https://www.unpri.org/pri/about-the-pri 2) Global Sustainable Investment Review 2016 Please note that the above information is for explanation purposes only. The information provided here is not meant to be considered as investment advice/ recommendation to invest. Please seek independent professional advice and arrive at an informed investment decision before making any investments.

4. Top-League Funds gradually moving their Portfolio into the Fastest Growing Investment Opportunity Institution Investec Natixis The Children's Fund Total AUM EUR 121 Bn $ 988 Bn $ 27 Bn Institution Blackrock California Pensions Fund California Teachers' Retirement Fund Allianz Norges Bank T-Rowe Price Total AUM $ 5.3 Trillion $401 Bn $253 Bn Hermes Investment Management Nordea Swedish Pension $392 Bn EUR 505 Bn $1 Trillion EUR 1 Trillion EUR 235 Bn EUR 442 Bn Since its founding in 2006, the United Nations dedicated International Organization to promote this investment approach has attracted support from more than 3,100 signatories representing over $110 trillion in assets under management as of 2020. $ 25 trillion (some 25% of all funds) institutional investment is now branded under this fastest growing investment theme. • • Please note that the above information is for explanation purposes only. The information provided here is not meant to be considered as investment advice/ recommendation to invest. Please seek independent professional advice and arrive at an informed investment decision before making any investments. Data Source: 1) https://www.unpri.org/pri/about-the-pri 2) Global Sustainable Investment Review 2016 3) IPE

5. A Spark Becomes Mainstream? Please note that the above information is for explanation purposes only. The information provided here is not meant to be considered as investment advice/ recommendation to invest. Please seek independent professional advice and arrive at an informed investment decision before making any investments.

6. ESG Investment becoming Mainstream Accompanied by Active Shareholder Interventions Financial Times, February 2018 Small companies face added pressure to put women on Boards. Wall Street Journal, February 2019 ESG Based Indices

7. Regulators in a number of Jurisdictions are Mandating Asset Owners to Focus more on ESG Integration  United Kingdom: Pensions Regulator published a new Code that encourages trustees to take into account risks that affect the long-term sustainability of investments  South Africa: 2011 Amendment to the Pension Funds Act states that “Prudent investing should give appropriate consideration to environmental, social and governance factors”  EU agreement on sustainable investment disclosure framework + EU Taxonomy  Institutions required to integrate ESG into their portfolios and disclose in a consistent way how they invest  Investment managers, insurers and advisors to inform plan participants how their activities are impacting the environment  India: SEBI introduced Stewardship Code in July 2020; Introducing new format for Business Responsibility and Sustainability Reporting. Source: 1) https://www.oecd.org/finance/Investment-Governance-Integration-ESG-Factors.pdf 2) Pensions and Investments Online

8. Negative News gets Easily Highlighted on Social Media Without social media, social, ethical, environmental ills would have minimal visibility. Increased visibility of issues has shifted the balance of power from the hands of governments and corporates to the masses.

9. Gradual Evolution from a Stockholder to a Stakeholder Greater emphasis on ESG factors, which play out over a long horizon, may provide a counterweight to the constant pressure on companies to maximize near-term earnings Quarterly Capitalism Sustainable Capitalism  The mandate to maximize short-term shareholder value or Quarterly Capitalism has driven a deep wedge between business and society  CEOs have little reason to think about the social and environmental consequences of their actions. And the result – whether in oil spills or credit derivatives – brings devastation far beyond the company's own shareholders  The long term success of any company depends on the health and wellbeing of its employees, customers, and the communities in which it operates “Quarterly capitalism is short-term, myopic, greedy and dysfunctional” -Will Hutton, British economist

10. What is ESG?

11. 11 ESG – Buzz words or Better Investments?  Sustainability  Responsible Investing  Impact Investing  Clean Investing  Societal Impact  Fiduciary Duties

12. What is ESG Investing? Replacing the question “how much return?” with “how much sustainable return?” ENVIRONMENT Climate Change GHG Emissions Water Stewardship Renewable Energy Waste Management Green Buildings Generic term given to non financial factors that can have a material impact on firm valuation SOCIAL GOVERNANCE • • • • • • Labor Practices Corporate Social Responsibility Stakeholders opposition Product Liability Privacy and Data Security • • • • • Minority shareholder treatment Board Independence Executive Compensation Corruption Business ethics and frauds • • • • •

13. 13 E for Environment Water Stress 54% of India facing high stress 21 Indian cities will run out of groundwater by 2020 Clean, affordable energy Fossil fuels constitute 92.5% of commercial energy consumption and 75% of total energy consumption Climate change # 3 globally in carbon emissions but low on per capita basis Pollution 11 of top 12 polluted cities in India Data Source: 1) https://www.businesstoday.in/current/economy-politics/india-has-highest-number-of-people-living-below-poverty-line-world-bank/story/238085.html 2) Census of India 3) World Resources Institute 4) BP & IEA 5) https://www.wri.org/blog/2017/04/interactive-chart-explains-worlds-top-10-emitters-and-how-theyve-changed 6) https://www.vox.com/2018/5/8/17316978/india-pollution-levels-air-delhi-health 5) Niti Aayog Report

14. 14 S for Social Poverty Food Security Employment lowest participation rates of working age women in the labor force – about 25% 224mn people below poverty line (18% of pop) 2.4% of world’s land; 17% of world’s population Illiteracy Basic hygiene Healthcare system 700 million people who have no access to toilets at home Every five persons among ten in India are illiterate 50% of all villagers have no access to healthcare providers Data Source: 1) https://www.businesstoday.in/current/economy-politics/india-has-highest-number-of-people-living-below-poverty-line-world-bank/story/238085.html 2) Census of India 3) World Resources Institute 4) BP & IEA 5) https://www.wri.org/blog/2017/04/interactive-chart-explains-worlds-top-10-emitters-and-how-theyve-changed 6) https://www.vox.com/2018/5/8/17316978/india-pollution-levels-air-delhi-health 7)https://www.mapsofindia.com/my-india/india/major-issues-in-india

15. 15 G for Governance In India, 15 of the top 20 business groups are family- owned Credit Rating Agencies (CRAs) behind the curve “Dependent” independent directors Audit crisis of 2018 Auditors of over 204 listed firms resigned* The comparable figure for 2016-17 was just 18! CRAs have repeatedly failed to alert investors about impending defaults be it the case of IL&FS, Zee Group or DHFL Are independent directors really independent? Or are they friends and family? Governance issues are more common in promoter led companies *as per filings in the MCA 21 registry

16. India Could Adversely Impact Global Emissions % % increase in GHG emissions attributed to India Note: Global GHG emissions (2017) at 59,526 mn tonnes CO2e If India’s per capita emissions (2.7 tns / person) reach the levels of China (8.2) and USA (18.4), global CO2 emissions are estimated to increase by 12.5% and 35.4%, respectively (assuming no change in emissions for other countries)

17. Without Adequate Investments, India undoes the difficult Carbon Cuts that other Nations plan to bring to the table Note: Global GHG emissions (2018) at 55.3 bn tonnes CO2e

18. Economic Growth is not enough to Sustain Societies & Planet India is 5th most vulnerable to climate change risk – Environmental Think Tank Germanwatch India ranked 108th out of 153 on gender equality – World Bank Global Gender Gap Index 2020 India ranks 77th in global bribery risk matrix out of 194 countries - TRACE Bribery Risk Matrix India is among the 10 worst countries for working people - International Trade Union Confederation (ITUC) Global Rights Index • • • •

19. Opportunities exist for Companies to change as India adopts higher ESG standards • India’s commitments on UN Sustainable Development Goals (SDGs) and COP21 likely to push companies to achieve higher ESG standards. • The Companies Act 2013 introduced critical changes on corporate governance including board diversity and independence, conflicts of interest and rights of minority shareholders. • SEBI has tightened the Listing Agreement. • Business Responsibility Report mandated for top 1,000 listed companies currently under revision. • Evidence of more assertiveness by shareholders Better Governance • National Guidelines on Responsible Business Conduct, 2019 • CSR expenditure of 2% of profit mandated under the Companies Act 2013. • India’s Nationally Determined Contribution (NDC) under the Paris Accord commits it to reduce the carbon intensity of its GDP by 33-35% by 2030 over 2005 levels. • Target of 175GW of renewables capacity by 2022, 40% of total generation capacity by 2030. • Perform, Achieve and Trade (PAT) scheme introduced for energy intensive industries. • Bharat Stage VI auto emission norms implemented in April 2020. • Extended producer responsibility mandated under E Waste Management Rules 2016. • Plastics Waste Management (Amendment) Rules, 2018. Coupled with Responsibility

20. Call for Collaborative Action

21. Most Investment Strategies Focus Primarily on “Governance”: How Founders and Managements treat Minority Shareholders?

22. But what about: Employees, Society, the Land, Water, Air around the Factories?

23. The Triple Bottom-Line: Planet People Profit

24. Evidence of Stock Price Reaction to Negative News Stock News Issue Date Share price drop on NSE Investigations against the former chairman following allegations that he offered loans worth crores to people recommended by politicians, placed his relatives in plum positions, and for even diverting funds meant for the bank’s corporate social responsibility (CSR) initiative J&K Bank Governance June -19 ~20% in 1 day A whistleblower email claims Sun Pharma promoter Dilip Shanghvi and his brother-in- law engaged in financial irregularities with stock market scam accused Dharmesh Doshi Dec-18 Sun Pharma Governance ~26% in 2 months Deloitte resigned as statutory auditor before Q4 results saying in a letter to the board that the company didn’t provide “significant information.” Manpasand Beverages Governance May -18 ~40% in 2 days Company came under the SEBI scanner for alleged price and volume manipulation of its own scrip on the BSE Vakrangee Governance Feb-18 ~48% in 5 days Social & Environment Vedanta Government rejected Vedanta’s bauxite mining plans in Niyamgiri Jan-14 ~66% in 2 years Chairman confessed to accounting fraud to the tune of ₹7,000 crore and to falsifying revenues, margins and cash balances of the company. One of the largest accounting frauds, which raised serious questions on India’s corporate governance standards as well as the credibility of auditors. Satyam Computer Services Governance Jan-09 ~78% in 1 day Stocks referred above are illustrative and not recommendation of Quantum Mutual Fund/AMC. The Fund may or may not have any present or future positions in these Stocks. The above information of stocks which is already available in publically access media for information and illustrative purpose only and not an endorsement / views / opinion of Quantum Mutual Fund /AMC. The above information should not be constructed as research report or recommendation to buy or sell of any stocks.

25. Positive Correlation between Sustainability & Profitability

26. 26 A Positive Correlation Between Sustainability & Economic Profitability *Percentage of studies showing Data Source: Oxford report ‘From stockholder to stakeholder’ based on more than 200 academic studies (March 2015) Strong ESG profile Higher Profitability Higher dividends More competitive Lower risk of severe incidents Strong ESG profile Better risk management Lower tail risk Strong ESG profile Low systematic risk Low cost of capital High valuation

27. Sustainability and Profitability are Complementary and Compatible As on December 31, 2020. Data Source: MSCI Indexes supplied by MSCI Inc, and MSCI ESG Indexes supplied by MSCI ESG Research Inc, a subsidiary of MSCI Inc. Past Performance may or may not be sustained in future. Please note that the above information is for explanation purposes only. The information provided here is not meant to be considered as investment advice/ recommendation to invest. Please seek independent professional advice and arrive at an informed investment decision before making any investments. The ESG index outperformed the traditional Equity index over the period and has also protected downside risk better.

28. 28 Sustainability and Profitability are Complementary and Compatible 370 Annual Performance (%) Nifty 100 ESG Index 22.8% Nifty 100 Index 16.0% Nifty 100 ESG TRI Nifty 100 TRI Year +/- 320 2020 6.9% 270 2019 12.0% 11.4% 0.6% 220 2018 6.1% 3.4% 2.7% 170 2017 33.2% 32.8% 0.4% 2016 4.3% 4.7% -0.4% 120 2015 -0.8% -1.3% 0.5% 70 Apr 2015 Aug 2015 Dec 2011 Apr 2011 Apr 2012 Dec 2012 Apr 2013 Dec 2013 Apr 2014 Dec 2014 Dec 2015 Apr 2016 Dec 2016 Apr 2017 Dec 2017 Apr 2018 Dec 2018 Apr 2019 Dec 2019 Apr 2020 Dec 2020 Aug 2011 Aug 2012 Aug 2013 Aug 2014 Aug 2016 Aug 2017 Aug 2018 Aug 2019 Aug 2020 2014 34.3% 34.8% -0.5% 2013 10.0% 7.0% 3.0% 2012 34.6% 32.3% 2.3% As on December 31, 2020. Data Source: Bloomberg, LLP, ^Data is from 2011 as Base Date for NIFTY100 ESG Index is April 2011. Past Performance may or may not be sustained in future. Please note that the above information is for explanation purposes only. The information provided here is not meant to be considered as investment advice/ recommendation to invest. Please seek independent professional advice and arrive at an informed investment decision before making any investments. Nifty 100 ESG Index outperforms Nifty Index and protects downside risk better

29. From “Integrity Screen” in 1996 to E, S, G… 1996: Introduced the Integrity Screen  Avoided corporates that treated minority investors unfairly + “sin stocks” -> Focus predominantly on “G” and to a certain extent on “S” factors  2015: Formalized a process of rating companies on their ESG performance  Proprietary rating methodology  Internal research team  Current database: ~140 companies rated on their ESG performance  2019: Launched Quantum India ESG Fund with portfolio construction based on proprietary ESG rating 

30. ESG is more about Identifying Opportunities Governance - Board / Management / Ethics Environment and Social Externalities' Financial Strength Growth & Capital Efficiency Disruptive Change

31. ESG Proves its Mettle amidst Crisis

32. 32 Sustainability Initiatives  39% of energy produced from renewable sources (WHRS + solar)  23.5% use of alternative raw material  All plants comply with zero liquid discharge norms  Use of air cooled condensers to conserve water  Contracts with suppliers include clauses on E&S aspects Data Source: Bloomberg, LLP Past Performance may or may not be sustained in future. Stocks referred above are illustrative and not recommendation of Quantum Mutual Fund/AMC. The Fund may or may not have any present or future positions in these Stocks. The above information of stocks which is already available in publically access media for information and illustrative purpose only and not an endorsement / views / opinion of Quantum Mutual Fund /AMC. The above information should not be constructed as research report or recommendation to buy or sell of any stocks. Past Performance may or may not be sustained in future.

33. 33 ESG Indices Versus Equity Indices MSCI India ESG Leaders Index NIFTY 100 ESG Index MSCI India Index NIFTY Index BSE 200 Index Returns Since 2011^ 36.2% 30.5% 25.2% 24.7% 22.9% Annualized SD 27.2% 26.5% 28.0% 26.5% 27.5% VAR -45.0% -43.7% -46.2% -43.7% -45.3% Sharpe Ratio 1.1126 0.9281 0.6913 0.7095 0.6195 Drawdown -35.0% -36.9% -37.9% -37.8% -38.3% As on December 31, 2020. Data Source: Bloomberg, LLP ^Data is from 2011 as Base Date for NIFTY100 ESG Index is April 2011 Past Performance may or may not be sustained in future.  Less volatile  Higher returns over long duration  Sustainable Profitability  Lower downside risk

34. What is our Idea? Delivering Long term Value from ESG

35. 35 Quantum’s ESG Approach Our analysis is guided by the materiality of the issues Governance sits at the heart of our analysis Typically focus on areas such as capital allocation, board composition, quality of disclosures and treatment of minority shareholders Shortcomings go hand in hand with poor performance on the social and environmental fronts, making it a good proxy for wider problems Identify companies that can act as long term stewards of capital

36. 36 Approach to ESG Evaluation Proprietary research (Blended Approach) Scoring system Data Sources •Sustainability reports (GRI Framework) •Business Responsibility Reports (BRR) and annual reports •Sustainability Accounting Standards Board (SASB) publications •Pollution Control Board Filings •Industry associations (WBCSD, WRI) •News reports •Management interaction Company disclosures (30% weight) Companies are evaluated on their levels of disclosures provided in their sustainability reports / business responsibility reports / annual reports. Companies with higher disclosures get higher scores. Company disclosures •Binary scoring systems: +1 for disclosure, 0 for non disclosure •Scores standardized from 0 (minimum) to 100 (maximum) Qualitative factors •Negative scoring system: Dependent on relative performance v/s peers or v/s national / global regulations •Penalty for ESG non compliance •Scores standardized from 0 (maximum) to -100 (minimum) Qualitative factors (70% weight) •Evaluate companies on their ESG performance relative to their peers on material ESG aspects. •Check for any past violations / red flags of certain E&S metrics and corporate governance regulations Consolidated score •Ranges from +30 (maximum to -70 (minimum)

37. More Than ‘Desk’ ESG Research Primary Research Secondary Research Review & Updates Publicly available data: (a) Annual Reports, Business Responsibility Reports & Sustainability Reports (b) Attend sustainability seminars, conferences (a) ‘G’ – Board Member review, including directorship review in other companies (b) KMP check, including controversies. Related party analysis (a) Review our proprietary ESG scores every 6 months (b) Active controversy monitoring (a) Meet ESG Head of the Company and/or Key Management Personnel (b) Visit Plant, including supply chain. Meet dealers, vendors etc. (a) Primary analyst and a Back- up analyst for each sector ensures continuity (b) ESG Analyst monitor and update material KPIs (a) ‘E’ & ‘S’ - Check Pollution Control Board filings. Refer NGO reports if available (b) Evaluate v/s global peers

38. Stock Selection Process Driven by our Proprietary ESG Scores Investors get exposure to broad basket of ESG compliant companies which in the long run is expected to outperform conventional market indices 40-60 stocks PORTFOLIO Companies > ESG score of 0 qualify for inclusion in the portfolio. Allocation is based on the ESG score of the company, with guardrails around Index sector ranges ESG COMPLIANCE CHECK > 125 stocks Based on Quantum’s proprietary research methodology, companies within the coverage universe are ranked on their ESG performance. The evaluation process consists of a blend of quantitative and qualitative factors. Assign scores -70 to +30 INITIAL SCREEN 450+ stocks Addressable universe with avg daily traded value of > $1 mn Number of stocks mentioned are as per current average trading volume value criteria and ESG criteria. The number of Stock in trading volume criteria, ESG criteria and in portfolio will be changed from time to time based on Investment Strategy of the scheme. Please refer Scheme Information Document of the Scheme for complete Investment Strategy

39. Portfolio Construction, using our Proprietary ESG Scores Stock with Volume > US$ 1 mn per day? YES No For Research Stock under active coverage? YES ESG Score < internal threshold > Internal threshold for 0.5% weight Not included in the Portfolio Included in the Portfolio: ESG score of stock / ESG score of all stocks > 0 Investment Criteria / Sector guardrails Wt of a stock in the portfolio depend on ESG score Min 1%, Max 5% @ cost Maximum Weight for a stock 10% at market value Please refer Scheme Information Document of the Scheme for complete Investment Strategy

40. 40 ESG – What Will You Own?  ESG determined stock selection is Value Agnostic – Most stock indexes are Value agnostic as well  ESG weighing provides exposure to Quality and Low volatility factors  ESG generally tends to do well in down markets  ESG focus help avoid tail risks  ESG endeavors to deliver long term risk adjusted performance

41. ESG Investing Truly Works in Real Sense

42. Performance of Quantum India ESG Equity Fund Mr. Chirag Mehta Work experience: 18 years. Ms. Sneha Joshi Work experience: 8 years. Both have been managing the fund since July 12, 2019. Fund Manager Category of Scheme Thematic Scheme. Quantum India ESG Equity Fund Offers an avenue to invest in businesses adhering to sustainable practices that will drive long term performance. Invests based on a comprehensive in-house proprietary research on Environment, Social and Governance aspects. Offers a well-diversified exposure to good quality and sustainable companies with relatively low volatility and downside risk. Features Useful for Long term capital appreciation.

43. 43 Performance of Quantum India ESG Equity Fund (Direct Plan): Since Inception (July 2019) Quantum India ESG Equity Fund 140 Quantum INDIA ESG Equity Fund NIFTY100 ESG TRI S&P BSE Sensex TRI 130 120 110 NAV 100 90 80 70 60 12-Jul-19 31-Dec-20 Period Past performance may or may not be sustained in future. This graph should be reviewed in conjunction with detailed performance of the scheme provided on slide number 44 Since inception, QESG based on absolute return has outperformed by 1.54% against the benchmark Nifty 100 ESG Index.

44. Performance of Quantum India ESG Equity Fund - Direct Plan The Scheme is managed by Mr. Chirag Mehta and Ms. Sneha Joshi. Mr. Chirag Mehta is the Fund Manager effective from July 12, 2019. Ms. Sneha Joshi is the Associate Fund Manager effective from July 12, 2019 Current Value of 10,000 Invested at the beginning of a given period Additional Benchmark Additional Benchmark Benchmark Benchmark Period NIFTY 100 ESG TRI (%) S&P BSE Sensex TRI (%) NIFTY S&P BSE Sensex TRI (Rs) Scheme Returns (%) Scheme (Rs) 100 ESG TRI (Rs) 1 year 25.72% 22.89% 17.11% 12,580 12,296 11,716 Since Inception (12th July 2019) 21.36% 19.82% 16.55% 13,310 13,061 12,537 Past performance may or may not be sustained in the future.Data as of 31st December 2020 Load is not taken into consideration in scheme returns calculation Different Plans shall have different expense structure. The Schemes has been in existence for more than 1 year but has not yet completed 3 and 5 years period. Returns are net of total expenses and calculated on the basis of Compounded Annualized Growth Rate(CAGR). For performance of other Schemes Managed by Mr. Chirag Mehta please see slide number 51 & 52

45. Performance of Quantum India ESG Equity Fund – Regular Plan The Scheme is managed by Mr. Chirag Mehta and Ms. Sneha Joshi. Mr. Chirag Mehta is the Fund Manager effective from July 12, 2019. Ms. Sneha Joshi is the Associate Fund Manager effective from July 12, 2019 Current Value of 10,000 Invested at the beginning of a given period Additional Benchmark Additional Benchmark Benchmark Benchmark Period NIFTY 100 ESG TRI (%) S&P BSE Sensex TRI (%) NIFTY S&P BSE Sensex TRI (Rs) Scheme Returns (%) Scheme (Rs) 100 ESG TRI (Rs) 1 year 24.95% 22.89% 17.11% 12,502 12,296 11,716 Since Inception (12th July 2019) 20.62% 19.82% 16.55% 13,190 13,061 12,537 Past performance may or may not be sustained in the future.Data as of 31st December 2020 Load is not taken into consideration in scheme returns calculation Different Plans shall have different expense structure. The Schemes has been in existence for more than 1 year but has not yet completed 3 and 5 years period. Returns are net of total expenses and calculated on the basis of Compounded Annualized Growth Rate(CAGR). For performance of other Schemes Managed by Mr. Chirag Mehta please see slide number 51& 52

46. Performance of Quantum India ESG Equity Fund Scheme Name Annualised Standard Deviation VaR Sharpe Ratio Drawdown Quantum India ESG Equity Fund 21.8% -42.7% 0.6786 -33.2% NIFTY100 ESG TRI 26.3% -51.6% 0.5310 -36.9% NIFTY TRI 27.8% -54.4% 0.3847 -37.9% Bse-30 TRI 27.2% -53.4% 0.3391 -38.3% Past performance may or may not be sustained in the future.Data as of 31st December 2020

47. 47 Diversified Portfolio ! Quantum India ESG Equity Fund is classified as a thematic fund. However, for all practical purposes, the fund is a well diversified portfolio across market caps and across sectors Top 10 Holding (Weight %) 5.19% 4.72% 4.47% 4.13% 3.80% 3.33% 3.28% 3.11% 2.86% 2.86% Weight % 18.72% Nifty 100 ESG Index Weight % 19.42% Sector Company Infosys Ltd HDFC Ltd TCS Ltd Wipro Ltd HDFC Bank Ltd Kotak Mahindra Bank Ltd Tata Consumer Products Ltd Marico Ltd Tata Motors Ltd Tata Communications Ltd Information Technology 15.15% 7.50% Materials 16.39% 13.33% Consumer Discretionary 17.17% 30.98% Financials 14.01% 4.79% Consumer Staples 3.45% 2.66% Communication Services 3.58% 9.62% Energy 3.79% 4.37% Industrials 2.78% 5.97% Health Care 1.25% 1.36% Utilities Total Weight of Top 10 Allocation 37.75% Source: Quantum Asset Management Company Pvt Ltd As of December 31, 2020 Stocks referred above are for illustrative purpose only and not recommendation of Quantum Mutual Fund / AMC. The Fund may or may not have any present or future positions in these stocks. The above information should not be constructed as research report or recommendation to buy or sell of any stocks.

48. 48 Portfolio Characteristics: QESG versus BSE-30 TRI QESG BSE-30 TRI Weighted dividend yield 1.20% 1.14% Weighted EPS Growth: March 2023E 29.10% 28.14% PEG Ratio (excludes cash) 0.72 0.63 T12M PE 39.5x 32.1x Weightage of stocks with PER < 20 83% 88% Weightage of stocks with PER > 20 17% 12% Weightage of stocks with PER > 30 49% 52% Past performance may or may not be sustained in future. Source: Quantum Asset Management Company Pvt Ltd As of December 31, 2020

49. Quantum’s Equity Allocation Suggestion For diversification across funds and across styles, Quantum suggests, 100% Equity 20% 60% 20% Quantum Long Term Equity Value Fund Quantum Equity Fund of Funds Quantum India ESG Equity Fund Please seek independent professional advice and arrive at an informed investment decision before making any investments.

50. Investing Money & Making a Difference You Shouldn't Have to Pick Between the Two