Modera erate tely Mod High to e H w at ig o er h L d o M V e r y w H Tata Hybrid Equity Fund o i L g (An open ended hybrid scheme investing predominantly in equity & equity related instruments.) h Riskometer Investors understand that their principal As on 31st May 2021 PORTFOLIO will be at Very High Risk

Market Value % of Ratings Market Value % to INVESTMENT STYLE Company Name No. of Shares Name of the Instrument Rs. Lakhs Assets Invests 65% to 80% investment in Equity & equity related instruments Rs. Lakhs NAV & 20% to 35% in debt & money market instruments. For taxation Equity & Equity Related Total 257031.18 76.60 Debt Instruments purpose, it is treated as an equity scheme. (Monthly Income is not Auto Government Securities 8790.05 2.62 assured and is subject to availability of distributable surplus.) Mahindra & Mahindra Ltd. 800000 6463.60 1.93 GOI - 5.09% (13/04/2022) SOV 3851.28 1.15 INVESTMENT OBJECTIVE India Ltd. 47000 3330.56 0.99 GOI - 6.64% (16/06/2035) SOV 2498.19 0.74 The investment objective of the Scheme is to provide income Auto Ancillaries GOI - 6.18% (04/11/2024) SOV 900.04 0.27 distribution and or capital appreciation over medium to long term. Tube Investments Of India Ltd.. 210450 2496.57 0.74 GOI - 7.95% (28-8-2032) SOV 554.52 0.17 However, there is no assurance or guarantee that the investment Banks GOI - 7.27% (08/04/2026) SOV 472.03 0.14 objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns. ICICI Bank Ltd. 4650000 30817.88 9.18 GOI - 8.30% (02/07/2040) SOV 199.49 0.06 State 4750000 20156.63 6.01 GOI - 8.13% (22/06/2045) SOV 102.68 0.03 DATE OF ALLOTMENT HDFC Bank Ltd. 1300000 19706.05 5.87 GOI - 7.68% (15/12/2023) SOV 80.85 0.02 October 8, 1995 Ltd. 380000 6869.26 2.05 SDL Tamilnadu 8.14% (27/05/2025) SOV 52.74 0.02 FUND MANAGER Cement GOI - 6.19% (16/09/2034) SOV 30.35 0.01 Ultratech Cement Ltd. 80000 5366.40 1.60 GOI - 7.26% (14/01/2029) SOV 30.86 0.01 Chandraprakash Padiyar (Managing Since 3-Sep-18 and overall ACC Ltd. 85000 1688.14 0.50 SDL Maharashtra 7.33% (13/09/2027) SOV 13.55 0.00 experience of 20 years) (Equity) & Murthy Nagarajan (Managing since 1-Apr-17 and overall experience of 24 years) (Debt) Chemicals GOI - 7.17% (08/01/2028) SOV 1.47 0.00 Basf India Ltd. 427442 10362.48 3.09 GOI - 6.57% (05/12/2033) SOV 2.00 0.00 ASSISTANT FUND MANAGER Solar Industries India Ltd. 90000 1398.96 0.42 Non-Convertible Debentures/Bonds/Zcb 34921.33 10.40 Satish Chandra Mishra (Managing Since 1-Nov-19 and overall Construction Project 09.65 % Green Infra Wind Energy Ltd. (Part Of Sembcorp IND AA 6857.31 2.04 experience of 14 years) Larsen & Toubro Ltd. 445000 6531.27 1.95 Industries Which Is Part Of Temasek Group) BENCHMARK Consumer Non Durables 09.05 % (Basel III Tier II Bonds) CRISIL- AA+ 4130.61 1.23 Ltd. 997645 10091.68 3.01 07.55 % Rec Ltd. CRISIL AAA 3073.73 0.92 Crisil Hybrid 25+75 - Aggressive Index ITC Ltd. 3900000 8447.40 2.52 09.75 % Jamnagar Utilities & Power Pvt. Ltd. CRISIL AAA 2789.89 0.83 NAV Ltd. 310000 7254.16 2.16 (Mukesh Ambani Group) Direct - Growth : 294.6065 Agro Tech Foods Ltd. 200530 1961.28 0.58 05.69 % Rec Ltd. CRISIL AAA 2539.94 0.76 Direct - IDCW : 83.8439 Finance 06.40 % Embassy Office Parks Reit CRISIL AAA 2512.08 0.75 Housing Development Finance Corporation Ltd. 420000 10721.97 3.20 06.75 % Sikka Ports And Terminals Ltd. CRISIL AAA 2428.91 0.72 Direct - Monthly IDCW : 74.7857 Reg - Growth 272.8945 Gas (Mukesh Ambani Group) Reg - IDCW : 75.2975 Gujarat State Petronet Ltd. 3200000 8673.60 2.58 07.70 % Ltd. CARE AA 2189.60 0.65 Reg - Monthly IDCW : 67.5085 Industrial Products 07.42 % Power Finance Corporation CRISIL AAA 1693.87 0.50 Schaeffler Ltd. 70000 3701.78 1.10 07.95 % Sikka Ports And Terminals Ltd. CRISIL AAA 1593.95 0.48 FUND SIZE Finolex Industries Ltd. 600000 1020.00 0.30 07.13 % Nhpc Ltd. ICRA AAA 1562.76 0.47 Rs. 3355.44 (Rs. in Cr.) India Ltd. 100000 786.90 0.23 07.90 % India Infradebt Ltd. CRISIL AAA 618.94 0.18 MONTHLY AVERAGE AUM Other Services 07.25 % Nuvoco Vistas Corporation Ltd. CRISIL AA 609.55 0.18 Quess Corp Ltd. 521806 3564.46 1.06 07.70 % Jamnagar Utilities & Power Pvt. Ltd. CRISIL AAA 525.56 0.16 Rs. 3257.55 (Rs. in Cr.) Pesticides (Mukesh Ambani Group) TURN OVER Pi Industries Ltd. 12600 329.48 0.10 08.70 % Ltd. CRISIL AAA 503.00 0.15 Petroleum Products Portfolio Turnover (Total) 86.94% 07.00 % H.P.C.L. CRISIL AAA 515.50 0.15 Reliance Industries Ltd. 1180000 25491.54 7.60 Aditya Birla Finance Ltd. - Zcb 0.10 Portfolio Turnover (Equity component only) 13.39% ICRA AAA 334.99 Pharmaceuticals 08.23 % Housing & Urban Development Corporation Ltd. ICRA AAA 309.90 0.09 EXPENSE RATIO** Ltd. 500000 5255.00 1.57 08.81 % Hdb Financial Services Ltd. CRISIL AAA 110.54 0.03 Direct 1.02 Aurobindo Pharma Ltd. 330000 3293.24 0.98 08.45 % Rec Ltd. CRISIL AAA 20.70 0.01 Regular 1.96 Ltd. 85000 1632.64 0.49 Money Market Instruments 16670.91 4.98 **Note: The rates specified are actual month end expenses charged Software Ltd. - CD CRISIL A1+ 4856.12 1.45 as on May 31, 2021. The above ratio includes the Service tax on Tata Consultancy Services Ltd. 530000 16743.50 4.99 Can Fin Homes Ltd. - CP ICRA A1+ 4859.59 1.45 Investment Management Fees. The above ratio excludes, Ltd. 920000 12822.50 3.82 Axis Bank Ltd. - CD proportionate charge (out of maximum 30 bps on daily average net CRISIL A1+ 3488.95 1.04 assets allowed) in respect sales beyond T-30 cities assets, wherever Oracle Financials Services Soft Ltd. 120000 4167.72 1.24 Treasury Bill 364 Days (07/10/2021) SOVRN SOV 2469.60 0.74 applicable. Telecom - Services Treasury Bill 91 Days (08/07/2021) SOVRN SOV 996.65 0.30 VOLATILITY MEASURES^ FUND BENCHMARK Ltd. 1625000 8692.13 2.59 MUTUAL FUND UNITS 10031.19 2.99 Std. Dev (Annualised) 17.12 16.91 Trading Tata Ultra Short Term Fund 10031.19 2.99 Redington (India) Ltd. 2000000 5252.00 1.57 Sharpe Ratio 0.13 0.23 Repo 7095.35 2.11 Transportation Portfolio Beta 0.97 1.00 Portfolio Total 334540.00 99.70 Gujarat Pipavav Port Ltd. 1800000 1940.40 0.58 R Squared 0.97 1.00 Cash / Net Current Asset 1004.45 0.30 Treynor 0.64 1.14 Net Assets 335544.45 100.00 Jenson -0.48 NA ^Risk-free rate based on the FBIL Overnight MIBOR rate of 3.39% as SIP - If you had invested INR 10000 every month on May 31, 2021 1 Year 3 Year 5 Year 7 Year 10 Year Since Inception For calculation methodology please refer to Pg 68 Total Amount Invested (Rs.) 120,000 360,000 600,000 840,000 1,200,000 3,040,000 Portfolio Macaulay Duration : 2.01 Years Total Value as on May 31, 2021 (Rs.) 146,309 464,891 803,330 1,216,620 2,292,697 35,729,358 Modified Duration : 1.93 Years Returns 43.22% 17.35% 11.63% 10.41% 12.43% 16.27% Average Maturity : 2.51 Years Total Value of B: Crisil Hybrid 25+75 - Aggressive Index 146,444 489,185 891,127 1,389,202 2,486,374 10,154,551 Gross Yield to Maturity (For Debt Component)* B: Crisil Hybrid 25+75 - Aggressive Index 43.45% 20.99% 15.83% 14.12% 13.95% 13.77% - Including Net Current Assets : 5.13% Total Value of AB: S&P BSE Sensex TRI 149,660 495,022 926,594 1,431,067 2,558,639 26,928,955 * Computed on the invested amount for debt portfolio. AB: S&P BSE Sensex TRI 49.04% 21.84% 17.43% 14.96% 14.49% 14.56% MINIMUM INVESTMENT/ (Inception date :08-Oct-1995) (First Installment date : 01-Feb-1996) MULTIPLES FOR NEW INVESTMENT Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized. Income Distribution cum capital withdrawals are assumed to be reinvested and bonus is Rs. 5,000/- and in multiples of Re. 1/- thereafter. adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 52 - 68. ADDITIONAL INVESTMENT/ *B: Benchmark, AB: Additional Benchmark MULTIPLES FOR EXISTING INVESTORS Source: MFI Explorer Rs. 1,000/- and multiples of Re. 1/- thereafter. Top 10 Holdings Equity Sector Allocation LOAD STRUCTURE Issuer Name % to NAV Financial Services 26.31% ICICI Bank Ltd. 9.18 Oil & Gas 10.18% Entry Load : Not Applicable IT 10.05% Exit Load : Reliance Industries Ltd. 7.60 Consumer Goods 8.27%

1) On or before expiry of 365 days from the date of allotment: If the 6.01 Automobile 3.66% withdrawal amount or switched out amount is not more than 12% of HDFC Bank Ltd. 5.87 Chemicals 3.51% the original cost of investment: NIL Tata Consultancy Services Ltd. 4.99 Services 3.21% Pharma 2) On or before expiry of 365 days from the date of allotment: If the 3.03% Infosys Ltd. 3.82 Telecom 2.59% withdrawal amount or switched out amount is more than 12% of the HDFC Ltd. 3.20 Cement & Cement Products 2.10% original cost of investment: 1% Basf India Ltd. 3.09 Construction 1.95% 3) Redemption after expiry of 365 days from the date of allotment: NIL Industrial Manufacturing 1.64% (w.e.f 5th November, 2018) Varun Beverages Ltd. 3.01 Bharti Airtel Ltd. 2.59 Fertilisers & Pesticides 0.10% Please refer to our Tata Mutual Fund website for fundamental Total 49.36 0.00% 6.00% 12.00% 18.00% 24.00% 30.00% changes, wherever applicable Market Capitalisation wise Exposure (Equity component only) NAV Movement Large Cap 75.12% Tata Hybrid Equity Fund - Reg - Growth 150 Crisil Hybrid 25+75 - Aggressive Index 134 Mid Cap 15.51% 118 Small Cap 9.37% 102 86 70 Market Capitalisation is as per list provided by AMFI. May-18 May-19 May-20 May-21 www.tatamutualfund.com Mutual Fund investments are subject to market risks, read all scheme related documents carefully TATA MUTUAL FUND 29