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ROBINSONS BANK TAX-EXEMPT RETIREMENT FUND (A BALANCED UITF) KEY INFORMATION and INVESTMENT DISCLOSURE STATEMENT As of MARCH 31, 2021 (Q1 2021)

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ROBINSONS BANK TAX-EXEMPT RETIREMENT FUND (A BALANCED UITF) KEY INFORMATION and INVESTMENT DISCLOSURE STATEMENT As of MARCH 31, 2021 (Q1 2021) ROBINSONS BANK TAX-EXEMPT RETIREMENT FUND (A BALANCED UITF) KEY INFORMATION AND INVESTMENT DISCLOSURE STATEMENT As of MARCH 31, 2021 (Q1 2021) FUND FACTS Classification Peso Tax - Exempt NAVPU 118.768200 Retirement Balanced UITF Launch Date October 7, 2016 Total Fund NAV PHP 3.465 Bn Minimum Investment PHP 1,000,000.00 Dealing Day 09:00 AM – 12:00 NN Banking Day Additional Investment PHP 1,000.00 Redemption Settlement 09:00 AM – 12:00 NN Next Banking Day Minimum Holding Period No holding period Early Redemption Charge N/A Fees RBank-TIG trustee fee at 0.15% per annum based on daily NAV, Land Bank of the Philippines security custody fee at 0.025% per annum based on face value of securities under custody; external audit fee based on the daily accrual of the previous year’s billing. Fees for the 1Q 2021 only:* Trust Fees – (0.0375%) Custodianship Fee – (0.0036%) External Audit Fees –(0.0014%) As a percentage of average daily NAV for the quarter ended 1Q2021 valued at Php 3.44 Bn INVESTMENT OBJECTIVE & STRATEGY The RBank Tax-Exempt Retirement Fund (A Balanced UITF) is a UITF catering exclusively for BIR-approved tax exempt- certified Retirement Plans of companies, that is invested in both peso-denominated fixed income securities and up to 40% preferred shares, with the option to invest a portion in USD-denominated securities. The Fund’s performance is benchmarked against the applicable Bloomberg Sovereign Bond Index BVAL plus 100 bps per annum with the BVAL reference rate chosen based on the Fund’s weighted average duration. CLIENT SUITABILITY A client profiling process should be performed prior to participating in the UITF to guide the prospective investor if the UITF is suited to his investment objectives and risk tolerance. Clients are advised to read the Declaration of Trust/Plan Rules of the UITF, which may be obtained from RBank-TIG, before deciding to invest. The RBank Tax-Exempt Retirement Fund (A Balaced UITF) is suitable only for an investor who: (i) is at least a “moderate” investor, (ii) understands that returns of the UITF are not guaranteed, and (iii) can stay with the Fund in the medium-term investment horizon, or around 3 to 5 years, to ride out the mark-to-market volatility inherent in the bond and stock market. KEY RISKS AND RISK MANAGEMENT Prospective clients should not invest in this UITF if they do not understand, or are not comfortable with the accompanying risks. Examples of specific key risks of the RBank Tax-Exempt Retirement Fund (A Balanced UITF) are explained below. A complete statement of inherent investment risks is listed in the UITF Risk Disclosure Statement, a required document for account opening. Interest Rate Risk. This is the possibility for an investor to experience losses due to changes in interest rates. The value of investments fluctuates over a given time period because of general market conditions, economic changes or other events that impact large portions of the market such as political events, natural calamities, etc. Market/Price Risk. This is the possibility for an investor to experience losses due to changes in market prices of securities (e.g., bonds and equities). It is the exposure to the uncertain market value of a portfolio due to price fluctuations Credit Risks/ Default Risks/ Counterparty Risks. This is the possibility for an investor to experience losses due to a borrower’s failure to pay principal and/or interest in a timely manner on instruments such as bonds, loans, or other forms of security which the borrower issued. This risk applies as well to counterparties that RBank-TIG deals with in case of default on a contract to deliver its obligation either in cash or securities. To mitigate risks, RBank-TIG employs risk management policies and risk monitoring tools such as observance of Single Borrowers Limits, UITF Stress Tests, and duration. Duration measures the sensitivity of the NAVPU to interest rate movements. The higher the duration, the more the NAVPU will fluctuate in relation to changes in interest rates. THE UITF IS NOT A DEPOSIT AND IS NOT INSURED BY THE PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC). RETURNS CANNOT BE GUARANTEED AND HISTORICAL NAVPU IS FOR ILLUSTRATION OF NAVPU MOVEMENTS/FLUCTUATIONS ONLY. WHEN REDEEMING, THE PROCEEDS MAY BE WORTH LESS THAN THE ORIGINAL INVESTMENT AND ANY LOSSES WILL BE SOLELY FOR THE ACCOUNT OF THE CLIENT. THE TRUSTEE IS NOT LIABLE FOR ANY LOSS UNLESS UPON WILLFULL DEFAULT, BAD FAITH, OR GROSS NEGLIGENCE. ROBINSONS BANK TRUST AND INVESTMENTS GROUP (RBANK-TIG) Address : 29F Galleria Corporate Center, EDSA corner Ortigas Avenue, Quezon City, NCR, Philippines Tel. Nos. : 702-9546/702-9506 Email : [email protected] PageWebsite 1 of 2 : www.robinsonsbank.com.ph ROBINSONS BANK TAX-EXEMPT RETIREMENT FUND (A BALANCED UITF) KEY INFORMATION AND INVESTMENT DISCLOSURE STATEMENT As of MARCH 31, 2021 (Q1 2021) CUMULATIVE PERFORMANCE (%) 135.000000 1 mo 3 mos 6 mos 1 yr TE RetFund Net of fees 0.20% 1.11% 1.98% 6.69% Benchmark -1.00% -2.48% -0.98% 9.05% 130.000000 *Returns are in absolute amounts and are NOT ANNUALIZED for tenors below 1 yr 125.000000 NAVPU OVER THE PAST 12 MONTHS Highest 119.082742 120.000000 Lowest 111.306558 STATISTICS 115.000000 Weighted Ave. Duration 1.56 Volatility* 1.77% 110.000000 TE RETFUND NAVPU Sharpe Ratio** (1.34) Benchmark Information Ratio*** (0.66) 105.000000 *Volatility measures the degree to which the UITF fluctuates, vis-à-vis its average return over a period of time. **Sharpe ratio is used to characterize how well the return of a UITF compensates the 3/31/2020 4/30/2020 5/30/2020 6/29/2020 7/29/2020 8/28/2020 9/27/2020 1/25/2021 2/24/2021 3/26/2021 10/27/2020 11/26/2020 investor for the level of risk taken. The higher the number, the better. 12/26/2020 ***Information Ratio measures reward-to-risk efficiency of the portfolio relative to the benchmark. The higher the number, the higher the reward per unit of risk. PORTFOLIO COMPOSITION TOP TEN HOLDINGS (%) ASSET CLASS ISSUER % OF FUND EQUITY SSA OWN STCP 2.27% BANK 2.03% TD-OTHER BANK DBP 13.34% 10.21% TD-OTHER CORP SECURITY ASIA UNITED BANK 8.98% BANK CORP SECURITY SECURITY BANK CORP 7.20% 13.34% CORP SECURITY Aboitiz Power Corp. 6.61% CORP BOND CORP SECURITY ROBINSONS BANK CORP 5.88% 71.51% CORP SECURITY AYALA LAND INC. 5.05% EQUITY AYALA CORP. B SERIES 4.84% CORP SECURITY SMC Global Holdings 4.26% EQUITY PETRON CORP. PERPETUAL 3.55% CORP SECURITY PSBANK CORP 3.45% OTHER DISCLOSURES Related Party Transactions The UITF has an outstanding DOSRI or related party investments in bonds amounting to Php 200 Mn FV for Rbank bonds, Php 30 Mn FV Robinsons Land bonds and has cash deposit with the Bank-proper amounting to Php 3.93. Mn as of report cut-off date. All related party transactions are conducted on an arm’s length basis and best execution basis and within the regulatory 15% investment limit of the UITF. Prospective investments The UITF will continue to invest in fixed-income portfolio to include time deposits/SSA with its BoD-accredited counterparty banks, to include its own bank, and on tradable bonds like FXTN/ prime corporate bonds. Investments up to a maximum 40% allocation in its Board-approved preferred stocks in holding companies, utilities, consumer companies, banking, and other preferred equities will be based on market-driven circumstances. FUND MANAGER’S OUTLOOK AND STRATEGY Fixed-Income Market The end of the 1Q2021 saw the whole world living with the COVID19 for a year already as part of its new normal after it was declared as a pandemic by WHO in March 2020. With almost 3 Mn reported deaths worldwide and many countries implementing lockdowns , Global GDP has also dropped 4.5% or almost USD 3.94 Trillion in lost economic output. Closer to home, the Philippines had one of the longest lockdowns in the world and entered recession territory, ending 2020 with a GDP growth of -9.6% . The country’s inflation level , however, which registered at 2.60 for 2020 , was slowly creeping up as the first three months of 2021 showed the CPI printing above 4.00% levels, settling at 4.5% by March, way beyond the government's initial target band of 2% to 4%. However, the National Government (NG) believes the Philippines has endured the worst economic impacts of the COVID-19 pandemic through prudent fiscal management and evidence-based and decisive actions to address the global health emergency. In fact, despite the pandemic in 2020, the Philippines’ strong fiscal position and favorable credit profile, which has remained at a high- investment grade rating of “BBB +” in a sea of credit-rating downgrades and negative outlook revisions worldwide amid the global economic turmoil, has contributed to its successful bond offerings, whether domestic or overseas. This underscored international investor confidence in the country’s ability to quickly bounce back from the impact of this global crisis and regain its pre-pandemic growth momentum The general outlook for 2021 is that growth will continue if the government is able to manage effectively the surge of covid 19-cases , and efficiently implement its COVID19 vaccination program by start of the 2Q21. As the economy gradually moves towards full reopening, Filipinos expect significantly better economic outcomes for the next few months Equity Market With a PSEi index of 7,197.50 at the start of 2021, the equities market decreased 10.4 % for the quarter, settling at 6,443.09, breaking the support of 6,600 which is now the new resistance.
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