Oxcel, Part of the Solution

1. Oxcel, Part of the Solution • Colin Cheng Thomas SalehMarko TvrtkovicBeatrice Yeung

2. Agenda

3. Problem Statement • Should Oxcel devote their funds to socially responsible investing, if so, which investment option should the endowment support, given the financial limitations?

4. Situational Analysis • Full consideration of all three pillars – Environmental, political, socio-economic • Ecology as a framework for social existence Political VALUES TO BE INTERGRATED WITH RESPONSIBLE INVESTING POLITICAL

5. Criteria Definition • Intergenerational Equity • Future generations should have the same access to resources and ecological services that current generations enjoy • Modes of Development • Based on shared prosperity and environmental protection Giving voice to the voiceless – the unborn

6. Alternatives - Funds • Abbe SRI • Not 100% aligned with socially responsible investing • Winslow Green Growth • Theme based approach to investing • Focus on domestic, small-cap companies • High risk, high reward • More adaptable • More direct impact • Green Mountain Coffee

7. Alternatives - Funds • Calvert Social Investment Equity Fund • Triple bottom line approach • Focus on domestic, large-capitalization companies • More diversified investment portfolio • Lower risk • Multi-facetted investment process • Holdings: • Pharmaceuticals and smaller companies such as Ecolab or the Vermont Sustainable Jobs Fund

8. Alternatives – Decision Matrix

9. Recommendation: Why Calvert? • The structure of the Portfolio • Diversity • Aligns with Goal of the Endowment • Best Encapsulates our definition of Sustainable Investing • Performance relative to Other Funds • Best Previous Performance Performance: Lower Volatility (Variance 1.5 compared to 7.3) • Performance relative to Benchmark • Outperforms S&P 500

10. Fund Performances

11. Calvert versus S&P 500

12. Fund Manager & Future Outlook • Fund Manager • Experience: Richard England (MBA 20+ years of experience) William Hackney III (Employee since 1995, MBA) • Total Exp. Ratio = 0.67% • Advisor Fee = 0.60% • Turnover Ratio = 51% • Future Outlook • Calvert’s Approach: Best Captures the multi-faceted approach to sustainability • Market Uncertainty

13. Further Reasoning • Transparent and Accountable • Corporate environmental, social and governance disclosure (on both policy level initiatives and company engagement) • Multi-dimensional • Incorporates political, socio-economic, and environmental pillars • Inclusive • Governance and Ethics, Workplace, Environment, Product Safety and Impact, International Operations and Human Rights, Indigenous Peoples’ Rights, and Community Relations

14. Further Reasoning • Mobilize resources; Connect with stakeholders • Engage companies to improve behavior • Innovative • Identify new untapped opportunities with potential Transitions corporate culture to one that finances the future “Be Part of The Solution”

15. Recommendation & Innovation Invest in Socially Responsible Entrepreneurship • Inline with Values • Investing in Local Human Capital • Gives Younger Students a Voice • Financing Future Generations • Minimize “Principle-Al agent” • Students have vested interests and are motivated

16. Conclusion Redefine Responsible Investing Invest in Green Funds Common Opinions Aligning with your values Sustainability can be profitable Invest in Ideas of the Future

17. Questions and Answers