Medical Assurance Society KiwiSaver Plan Conservative Fund as at 30 September 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 22.10% Cash Total 22.10% Bonds Vector 2.12% IAG 2.03% Bank of China 1.84% 1.77% 1.60% Quayside Holdings 1.24% Int Airport 0.95% Mighty River Power Limited 0.86% ANZ National Bank Ltd 0.14% New Zealand Bonds Total 12.56% International Bonds Hunter Global Bond Fund 46.29% International Bonds Total 46.29% New Zealand Equities Infratil Ltd 0.58% A2 Milk Company Ltd 0.55% Limited 0.51% Fisher & Paykel Healthcare Ltd 0.42% Auckland International Airport Ltd 0.32% Ltd 0.28% Ltd 0.28% Ltd 0.27% Mercury NZ Limited 0.18% Ltd 0.17% Ltd 0.16% Ltd 0.16% Freightways Ltd 0.11% Stride Property Ltd and Stride Invest Mgmt Ltd 0.11% Chorus Ltd 0.10% Investore Property Limited 0.10% Ltd 0.08% Ltd 0.06% City Entertainment Group 0.04% Precinct Properties NZ Ltd 0.04% Ebos Group Ltd 0.03% Kathmandu Holdings Ltd 0.01% New Zealand Equities Total 4.56% Australian Equities Afterpay Touch Group Limited 0.24% CSL Limited 0.18% Corp Ltd 0.13% News Corp-CDI Class B 0.11% Aust and NZ Banking Group 0.11% Suncorp Group Ltd 0.11% Sydney Airports 0.09% Resmed Inc 0.09% Macquarie Group Ltd 0.09% Bingo Industries Limited 0.08% Transurban Group 0.05% National Australia Bank Ltd 0.04% Banking Corp 0.04% Coles Group Ltd 0.03% Aristocrat Leisure Ltd 0.03% Wesfarmers Limited 0.02% Amcor Ltd 0.02% Australian Equities Total 1.47% International Equities MAS RI Global Mandate* 10.11% Technology Select Sect Spdr 0.84% SPDR S&P Bank ETF 0.73% Health Care Select Sector 0.50% iShares EUR 600 Telecoms DE 0.30% iShares U.S. Medical Devices 0.30% Alphabet Inc Class A 0.09% Amazon.Com Inc 0.08% Facebook Inc-A 0.06% Netflix Inc 0.02% International Equities Total 13.01% Grand Total 100.00%

Holdings are subject to change at any time. * The detailed holdings are on the MAS website. Medical Assurance Society KiwiSaver Plan Moderate Fund as at 30 September 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 11.99% Cash Total 11.99% New Zealand Bonds Infratil 2.72% ANZ National Bank Ltd 2.18% IAG 2.10% Vector 2.02% Chorus Limited 1.87% Bank of China 1.56% ASB Bank Ltd 1.13% Christchurch Int Airport 0.83% Mighty River Power Limited 0.75% Westpac Bank 0.24% New Zealand Bonds Total 15.38% International Bonds Hunter Global Bond Fund 39.39% International Bonds Total 39.39% New Zealand Equities Infratil Ltd 1.06% A2 Milk Company Ltd 1.00% Meridian Energy Limited 0.93% Fisher & Paykel Healthcare Ltd 0.77% Auckland International Airport Ltd 0.58% Spark New Zealand Ltd 0.51% Mainfreight Ltd 0.50% Fletcher Building Ltd 0.49% Mercury NZ Limited 0.33% Port of Tauranga Ltd 0.31% Metlifecare Ltd 0.29% Z Energy Ltd 0.28% Freightways Ltd 0.19% Chorus Ltd 0.19% Stride Property Ltd and Stride Invest Mgmt Ltd 0.16% Air New Zealand Ltd 0.15% Investore Property Limited 0.12% Kiwi Property Group Ltd 0.11% Sky City Entertainment Group 0.07% Precinct Properties NZ Ltd 0.07% Ebos Group Ltd 0.06% Kathmandu Holdings Ltd 0.03% New Zealand Equities Total 8.21% Australian Equities Afterpay Touch Group Limited 0.44% CSL Limited 0.32% Suncorp Group Ltd 0.22% Telstra Corp Ltd 0.21% Aust and NZ Banking Group 0.21% News Corp-CDI Class B 0.20% Sydney Airports 0.18% Resmed Inc 0.17% Macquarie Group Ltd 0.17% Bingo Industries Limited 0.15% Transurban Group 0.09% National Australia Bank Ltd 0.08% Westpac Banking Corp 0.08% Coles Group Ltd 0.07% Aristocrat Leisure Ltd 0.06% Amcor Ltd 0.05% Wesfarmers Limited 0.04% Australian Equities Total 2.74% International Equities MAS RI Global Mandate* 17.31% Technology Select Sect Spdr 1.43% SPDR S&P Bank ETF 1.25% Health Care Select Sector 0.85% iShares EUR 600 Telecoms DE 0.51% iShares U.S. Medical Devices 0.51% Alphabet Inc Class A 0.16% Amazon.Com Inc 0.13% Facebook Inc-A 0.09% Netflix Inc 0.04% International Equities Total 22.27% Grand Total 100.00%

Holdings are subject to change at any time. * The detailed holdings are on the MAS website. Medical Assurance Society KiwiSaver Plan Balanced Fund as at 30 September 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 11.89% Cash Total 11.89% New Zealand Bonds ANZ National Bank Ltd 1.66% Vector 1.47% Chorus Limited 1.34% Infratil 1.23% IAG 1.07% Bank of China 1.04% Westpac Bank 0.95% Quayside Holdings 0.42% Z Energy 0.41% Mighty River Power Limited 0.30% ASB Bank Ltd 0.29% New Zealand Bonds Total 10.18% International Bonds Hunter Global Bond Fund 25.99% International Bonds Total 25.99% New Zealand Equities Infratil Ltd 1.59% A2 Milk Company Ltd 1.51% Meridian Energy Limited 1.39% Fisher & Paykel Healthcare Ltd 1.15% Auckland International Airport Ltd 0.88% Spark New Zealand Ltd 0.78% Mainfreight Ltd 0.75% Fletcher Building Ltd 0.74% Mercury NZ Limited 0.51% Port of Tauranga Ltd 0.46% Metlifecare Ltd 0.43% Z Energy Ltd 0.43% Freightways Ltd 0.29% Chorus Ltd 0.28% Stride Property Ltd and Stride Invest Mgmt Ltd 0.24% Air New Zealand Ltd 0.22% Kiwi Property Group Ltd 0.17% Investore Property Limited 0.14% Sky City Entertainment Group 0.10% Precinct Properties NZ Ltd 0.10% Ebos Group Ltd 0.09% Kathmandu Holdings Ltd 0.04% New Zealand Equities Total 12.31% Australian Equities Afterpay Touch Group Limited 0.67% CSL Limited 0.49% Suncorp Group Ltd 0.33% Telstra Corp Ltd 0.32% Aust and NZ Banking Group 0.32% News Corp-CDI Class B 0.30% Sydney Airports 0.27% Macquarie Group Ltd 0.26% Resmed Inc 0.26% Bingo Industries Limited 0.23% Transurban Group 0.13% National Australia Bank Ltd 0.13% Westpac Banking Corp 0.12% Coles Group Ltd 0.11% Aristocrat Leisure Ltd 0.09% Amcor Ltd 0.07% Wesfarmers Limited 0.07% Australian Equities Total 4.17% International Equities MAS RI Global Mandate* 27.55% Technology Select Sect Spdr 2.28% SPDR S&P Bank ETF 1.98% Health Care Select Sector 1.35% iShares EUR 600 Telecoms DE 0.82% iShares U.S. Medical Devices 0.81% Alphabet Inc Class A 0.26% Amazon.Com Inc 0.21% Facebook Inc-A 0.14% Netflix Inc 0.06% International Equities Total 35.46% Grand Total 100.00%

Holdings are subject to change at any time. * The detailed holdings are on the MAS website. Medical Assurance Society KiwiSaver Plan Growth Fund as at 30 September 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 7.99% Cash Total 7.99% New Zealand Bonds ANZ National Bank Ltd 0.92% Vector 0.78% Chorus Limited 0.63% Bank of China 0.52% IAG 0.46% Infratil 0.43% Bank of New Zealand 0.43% Christchurch Int Airport 0.21% Westpac Bank 0.16% Quayside Holdings 0.16% Z Energy 0.16% ASB Bank Ltd 0.15% New Zealand Bonds Total 5.02% International Bonds Hunter Global Bond Fund 15.55% International Bonds Total 15.55% New Zealand Equities Infratil Ltd 2.12% A2 Milk Company Ltd 2.02% Meridian Energy Limited 1.89% Fisher & Paykel Healthcare Ltd 1.69% Auckland International Airport Ltd 1.35% Spark New Zealand Ltd 1.28% Mainfreight Ltd 1.02% Fletcher Building Ltd 1.02% Mercury NZ Limited 0.68% Port of Tauranga Ltd 0.62% Z Energy Ltd 0.59% Metlifecare Ltd 0.58% Chorus Ltd 0.45% Freightways Ltd 0.41% Stride Property Ltd and Stride Invest Mgmt Ltd 0.33% Air New Zealand Ltd 0.30% Kiwi Property Group Ltd 0.29% Investore Property Limited 0.19% Sky City Entertainment Group 0.14% Precinct Properties NZ Ltd 0.13% Ebos Group Ltd 0.13% Kathmandu Holdings Ltd 0.05% New Zealand Equities Total 17.28% Australian Equities Afterpay Touch Group Limited 0.92% CSL Limited 0.63% Aust and NZ Banking Group 0.41% News Corp-CDI Class B 0.41% Sydney Airports 0.40% Suncorp Group Ltd 0.40% Telstra Corp Ltd 0.39% Macquarie Group Ltd 0.36% Resmed Inc 0.35% Bingo Industries Limited 0.30% National Australia Bank Ltd 0.16% Transurban Group 0.16% Westpac Banking Corp 0.14% Coles Group Ltd 0.14% Aristocrat Leisure Ltd 0.12% Amcor Ltd 0.10% Wesfarmers Limited 0.09% Australian Equities Total 5.48% International Equities MAS SRI Global Mandate* 37.25% Technology Select Sect Spdr 3.09% SPDR S&P Bank ETF 2.68% Health Care Select Sector 1.83% iShares EUR 600 Telecoms DE 1.10% iShares U.S. Medical Devices 1.09% Alphabet Inc Class A 0.35% Amazon.Com Inc 0.28% Facebook Inc-A 0.19% Netflix Inc 0.08% International Equities Total 47.94% Alternatives Maui Capital Aqua Fund 0.63% Pencarrow IV Investment 0.11% Alternatives Total 0.74% Grand Total 100.00%

The above holdings are subject to change at any time. * The detailed holdings are on the MAS website. Medical Assurance Society KiwiSaver Plan Aggressive Fund as at 30 September 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 8.37% Cash Total 8.37% New Zealand Bonds ANZ National Bank Ltd 0.52% Bank of China 0.43% IAG 0.43% Chorus Limited 0.43% Infratil 0.32% New Zealand Bonds Total 2.13% International Bonds Hunter Global Bond Fund 8.93% International Bonds Total 8.93% New Zealand Equities Infratil Ltd 2.34% A2 Milk Company Ltd 2.28% Meridian Energy Limited 2.12% Fisher & Paykel Healthcare Ltd 1.87% Auckland International Airport Ltd 1.48% Spark New Zealand Ltd 1.40% Mainfreight Ltd 1.15% Fletcher Building Ltd 1.15% Mercury NZ Limited 0.76% Port of Tauranga Ltd 0.69% Z Energy Ltd 0.66% Metlifecare Ltd 0.64% Chorus Ltd 0.49% Freightways Ltd 0.45% Stride Property Ltd and Stride Invest Mgmt Ltd 0.36% Air New Zealand Ltd 0.34% Kiwi Property Group Ltd 0.30% Investore Property Limited 0.19% Sky City Entertainment Group 0.16% Precinct Properties NZ Ltd 0.15% Ebos Group Ltd 0.14% Kathmandu Holdings Ltd 0.06% New Zealand Equities Total 19.17% Australian Equities Afterpay Touch Group Limited 1.03% CSL Limited 0.73% Sydney Airports 0.50% Aust and NZ Banking Group 0.47% Telstra Corp Ltd 0.46% Suncorp Group Ltd 0.46% News Corp-CDI Class B 0.45% Macquarie Group Ltd 0.42% Resmed Inc 0.41% Bingo Industries Limited 0.35% National Australia Bank Ltd 0.20% Transurban Group 0.19% Coles Group Ltd 0.18% Westpac Banking Corp 0.16% Aristocrat Leisure Ltd 0.14% Amcor Ltd 0.12% Wesfarmers Limited 0.11% Australian Equities Total 6.37% International Equities MAS SRI Global Mandate* 41.99% Technology Select Sect Spdr 3.48% SPDR S&P Bank ETF 3.03% Health Care Select Sector 2.06% iShares EUR 600 Telecoms DE 1.24% iShares U.S. Medical Devices 1.23% Alphabet Inc Class A 0.39% Amazon.Com Inc 0.32% Facebook Inc-A 0.22% Netflix Inc 0.09% International Equities Total 54.04% Alternatives The Maui Capital Aqua Fund 0.67% The Maui Capital Indigo Fund 0.24% Pencarrow IV Investment 0.08% Alternatives Total 0.99% Grand Total 100.00%

The above holdings are subject to change at any time. * The detailed holdings are on the MAS website. Medical Assurance Society KiwiSaver Plan Global Equities Fund as at 30 September 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 4.56% Cash Total 4.56% New Zealand Equities Infratil Ltd 2.72% A2 Milk Company Ltd 2.64% Meridian Energy Limited 2.46% Fisher & Paykel Healthcare Ltd 2.18% Auckland International Airport Ltd 1.72% Spark New Zealand Ltd 1.63% Mainfreight Ltd 1.34% Fletcher Building Ltd 1.33% Mercury NZ Limited 0.88% Port of Tauranga Ltd 0.81% Z Energy Ltd 0.76% Metlifecare Ltd 0.76% Chorus Ltd 0.57% Freightways Ltd 0.53% Air New Zealand Ltd 0.41% Stride Property Ltd and Stride Invest Mgmt Ltd 0.41% Kiwi Property Group Ltd 0.37% Sky City Entertainment Group 0.20% Precinct Properties NZ Ltd 0.16% Ebos Group Ltd 0.16% Investore Property Limited 0.11% Kathmandu Holdings Ltd 0.07% New Zealand Equities Total 22.26% Australian Equities Afterpay Touch Group Limited 1.18% CSL Limited 0.80% Sydney Airports 0.51% News Corp-CDI Class B 0.51% Aust and NZ Banking Group 0.51% Suncorp Group Ltd 0.48% Macquarie Group Ltd 0.47% Telstra Corp Ltd 0.46% Resmed Inc 0.45% Bingo Industries Limited 0.38% Transurban Group 0.22% National Australia Bank Ltd 0.21% Coles Group Ltd 0.19% Westpac Banking Corp 0.17% Aristocrat Leisure Ltd 0.15% Amcor Ltd 0.12% Wesfarmers Limited 0.12% Australian Equities Total 6.92% International Equities MAS SRI Global Mandate* 50.62% Technology Select Sect Spdr 4.14% SPDR S&P Bank ETF 3.60% Health Care Select Sector 2.53% iShares EUR 600 Telecoms DE 1.55% iShares U.S. Medical Devices 1.47% Alphabet Inc Class A 0.46% Amazon.Com Inc 0.38% Facebook Inc-A 0.26% Netflix Inc 0.10% International Equities Total 65.11% Alternatives The Maui Capital Aqua Fund 0.78% The Maui Capital Indigo Fund 0.26% Pencarrow IV Investment 0.11% Alternatives Total 1.15% Grand Total 100.00%

The above holdings are subject to change at any time. * The detailed holdings are on the MAS website.