CHINA OPPORTUNITIES FUND - RETAIL ACC USD THREADNEEDLE SPECIALIST INVESTMENT FUNDS ICVC PROFESSIONAL INVESTORS (FOR MARKETING PURPOSES) - ALL DATA AS AT 31 AUGUST 2021 OEIC Luxembourg Investment Objective & Policy The Fund aims to increase the value of your investment over the long term. It looks to outperform the MSCI 10/40 Index over rolling 3-year periods, after the Contact Details deduction of charges. Tel: 00352 46 40 10 7020* The Fund is actively managed, and invests at least 75% of its assets in shares of Chinese companies. The Fund selects companies considered to have good prospects for share price growth, from any industry or economic sector, and whilst there is no restriction on size, [email protected] investment tends to focus on larger companies, such as those included in the MSCI China 10/40 Index. *Please note that calls and electronic communications The MSCI China 10/40 Index is designed to measure the performance of shares across large and medium-sized Chinese companies. The Index currently includes over 450 companies, and is constructed to reflect the regulatory framework applicable to the Fund. It provides a suitable target benchmark against which Fund performance will may be recorded. be measured and evaluated over time. IFDS, 47, avenue J.F. Kennedy, L-1855, Luxembourg The Fund typically invests in fewer than 70 companies, which may include shares of some companies not within the Index. The Fund may invest up to 70% of its value in China A-Shares through the China-Hong Kong Stock Connect Programme. The Fund may also invest in other assets such as cash and deposits, and hold other funds Fund Manager: Jin Xu (including funds managed by Columbia Threadneedle companies) when deemed appropriate. Since: Jul-18 Management Co: Threadneedle Inv. Services Ltd. Fund Inception Date: 28/03/07 Target Benchmark: MSCI China 10/40 Comparator: IA China/Greater China Investment Approach Fund Currency: USD The fund provides exposure to companies in China, or with significant operations there. Fund Domicile: United Kingdom The fund typically has a portfolio comprising shares of 50 and 70 companies based in China. We believe that holding this number of stocks provides a good balance of diversification and conviction at the individual security level. We have the flexibility to focus on the best individual stock opportunities within a XD Date: 01-May sector weighting limit of +/- 14% relative to MSCI sector weighting. Typically the fund has a bias towards medium-sized and smaller companies. There is a particular focus on identifying “rising stars”; companies at a relatively early stage of their development which we believe are under-researched and offer Pay Date: 30-Jun better value than large-cap stocks. Portfolio Size: $70,9m We believe that a clear understanding of the macroeconomic and thematic background is a vital starting point for managing the fund. We believe that No. of Securities: 55 investment decisions are supported by engaging with company management at face-to-face meetings, which will enable us to gain an understanding of the All information expressed in USD performance drivers of each company. We place great importance on fundamental research and industry analysis and believe that this approach will tend to identify quality companies that are more likely to outperform over the long term. CHINA OPPORTUNITIES FUND - We are in contact with more than 200 companies each year to ensure that we gain a thorough understanding of the performance drivers of the business and to help build our conviction in the prospects for the firm. We search for companies with a sound underlying business and financial model which are able to RETAIL ACC USD add value for their customers, and where management has the expertise to oversee long-term growth. ISIN: GB00B1PRWC80 Share Class Price: 5,5884 Historic Yield: 0,0% Ongoing Charges (OCF): 1,67% (as at 30/04/21) Performance Fee: No The ongoing charges figure (OCF) is usually based on the last year’s expenses and may vary from year to year. It includes charges such as 5 Years (USD) Calendar Years (USD) the fund’s annual management charge, registration fee, custody fees 50% and distribution cost but excludes the costs of buying or selling assets 200 for the fund (unless these assets are shares of another fund). For a 40% more detailed breakdown please visit 180 30% www.columbiathreadneedle.com/fees. In some cases, the ongoing charges figure may be based on an estimate of future charges, either 160 20% because the share/unit class is relatively new and has an insufficient 140 10% track record to be calculated exactly, or if historic figures are unlikely to 0% accurately reflect future ongoing costs. 120 Please see table of Share Classes available on page 4. -10% 100 -20% Fund Changes 80 08/16 08/17 08/18 08/19 08/20 08/21 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 For detailed information on Fund Changes please see "Details of significant events - Key Investor Information Document - UK Regulated Share Class Peer Median Share Class Peer Median Funds" PDF available on https://www.columbiathreadneedle.com/en/ changes Annualised Performance (USD) 1M 3M 6M YTD 1 YR 2 YR 3 YR 5 YR 10 YR SI Ratings/Awards Share Class (Net) -0,6 -13,4 -17,0 -13,4 -6,9 14,1 6,8 10,2 7,2 -- Peer Median (Net) -0,7 -12,0 -15,3 -9,5 3,2 18,2 12,2 11,0 7,0 -- Peer Percentile 48% 65% 61% 77% 95% 64% 72% 67% 47% -- Peer Quartile 2 3 3 4 4 3 3 3 2 -- For more information on the methodology of the Morningstar rating Fund (Gross) -0,5 -14,3 -16,1 -12,1 -4,1 15,7 8,0 11,4 8,6 -- please visit www.morningstar.com Index (Gross) 0,8 -12,5 -15,6 -10,8 0,3 15,5 8,1 10,9 7,4 -- Since Inception Returns from: 29/03/07 Calendar Year Performance (USD) 12M Rolling Period (USD) 2020 2019 2018 2017 2016 09/20 - 09/19 - 09/18 - 09/17 - 09/16 - 08/21 08/20 08/19 08/18 08/17 Share Class (Net) 33,4 24,0 -20,3 51,0 -2,8 -6,9 40,0 -6,6 2,4 30,1 Peer Median (Net) 34,2 27,5 -19,8 47,9 -0,8 3,2 36,5 -1,9 1,5 28,6 Peer Percentile 53% 64% 54% 36% 71% 95% 35% 85% 40% 36% Peer Quartile 3 3 3 2 3 4 2 4 2 2 Fund (Gross) 34,4 26,1 -19,8 52,7 -1,5 -4,1 39,5 -5,8 3,4 31,6 Index (Gross) 31,0 22,4 -18,1 49,6 1,5 0,3 33,0 -5,3 0,0 32,7 Net returns – Net (of fee) returns assume income is reinvested for a local taxpayer, bid to bid performance (which means performance does not include the effect of any initial charges). Source Copyright © 2021 Morningstar UK Limited. Gross Fund returns - Gross Fund returns (where shown) are in-house calculated daily time weighted based on global close valuations with cash flows at start of day and are gross of fees. Past performance is not a guide to future performance. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fluctuations. This means that an investor may not get back the amount invested. Index returns assume reinvestment of dividends and capital gains and unlike fund returns do not reflect fees or expenses. The index is unmanaged and cannot be invested directly. The Investment Association (IA) is the trade body representing the UK investment management industry. This factsheet contains corrected gross performance data for the period 1 November 2018 to 31 August 2020. These inaccuracies were due to an incorrect treatment of Spot FX data in our performance records and have been corrected as at September 2020. This change in gross performance records is not deemed material in accordance with our error correction policy, however if you require a comparison of corrected returns please contact your relationship manager. The net performance record remains unaffected.

Source: FactSet For CTI's use only: T6CHOF Top 10 Holdings (%) Fund Currency Exposure including Hedging Security Name Fund Index Holdings Ltd. 8,0 8,2 Communication Services Holding Ltd. 7,0 7,7 Consumer Discretionary HKD 78,1% China Mengniu Co., Ltd. 3,9 0,8 Consumer Staples CNY 11,3% China Merchants Bank Co., Ltd. Class H 3,9 1,7 Financials TWD 6,0% USD 4,7% Taiwan Semiconductor Manufacturing Co., Ltd. 3,5 -- Information Technology GBP 0,0% Li Ning Company Limited 3,4 1,2 Consumer Discretionary SGD 0,0% AUD 0,0% Class B 3,4 4,7 Consumer Discretionary EUR 0,0% AIA Group Limited 3,4 -- Financials JD.com, Inc. Class A 3,0 2,7 Consumer Discretionary Corporation Class H 3,0 2,8 Financials

Total 42,6 29,7 All % are as at calendar month end based at global close gross valuation point and on a look- through exposure basis to underlying assets including forward currency positions. Weightings (%) Sector Fund Index Diff Country Fund Index Diff Consumer Discretionary 30,0 31,5 -1,5 China 73,5 99,8 -26,3 Financials 16,8 15,2 1,6 Hong Kong 16,5 0,2 16,3 Communication Services 13,4 13,4 0,1 Taiwan 6,0 -- 6,0 Consumer Staples 10,7 5,1 5,5 Cash 4,0 -- 4,0 Information Technology 9,0 7,9 1,1 Health Care 7,0 8,5 -1,5 Real Estate 4,4 4,7 -0,3 Industrials 2,4 5,7 -3,2 Materials 1,6 3,7 -2,2 Utilities 0,7 2,7 -1,9 Energy -- 1,7 -1,7 Cash 4,0 -- 4,0

Top 10 Overweight/Underweight (%) 3 Month Largest Position Changes Overweight Fund Index Diff Underweight Fund Index Diff Security Name 3 Mth Change Taiwan Semiconductor Manufacturin… 3,5 -- 3,5 Corp. Class B -- 1,9 -1,9 (Group) Company o… -2,3 AIA Group Limited 3,4 -- 3,4 NIO Inc. Sponsored ADR Class A 0,2 2,1 -1,8 Taiwan Semiconductor Manufacturing… 1,5 China Mengniu Dairy Co., Ltd. 3,9 0,8 3,1 Pinduoduo, Inc. Sponsored ADR Cla… 0,5 1,8 -1,3 China Construction Bank Corporation… -1,4 Li Ning Company Limited 3,4 1,2 2,2 Meituan Class B 3,4 4,7 -1,3 New Oriental Education & Technology… -1,4 China Merchants Bank Co., Ltd. Clas… 3,9 1,7 2,2 Limited Class H -- 1,2 -1,2 JD.com, Inc. Class A 1,3 Limited 2,3 0,5 1,8 Yum China Holdings, Inc. -- 1,0 -1,0 Gree Electric Appliances, Inc. of Zhuha… -1,1 Services Holdings C… 2,1 0,5 1,6 Products Ltd. -- 0,9 -0,9 China Resources Beer (Holdings) Co.… 1,1 Zhongsheng Group Holdings Ltd. 1,7 0,2 1,5 Technology (Group) C… -- 0,9 -0,9 Beijing Thunisoft Corporation Limited C… -1,1 Hua Hong Semiconductor Ltd. 1,6 0,1 1,5 BYD Company Limited Class H 0,6 1,3 -0,7 Country Garden Services Holdings Co.… 1,1 Wuliangye Yibin Co., Ltd. Class A 1,8 0,3 1,5 Li Auto, Inc. Class A -- 0,7 -0,7 Tencent Holdings Ltd. -1,1

Top Positive/Negative Security Attribution (3 Months) Fund Index Attri. Fund Index Attri. Contr. Geo. Contr. Geo. Avg. Total Avg. Total Avg. Total Avg. Total To Total To Total Security Name - 10 Highest Weight Return Weight Return Security Name - 10 Lowest Weight Return Weight Return Return Effect Return Effect Li Ning Company Limited 3,1 42,8 1,2 0,9 43,6 1,1 Wuliangye Yibin Co., Ltd. Class A 2,1 -36,5 -1,0 0,4 -36,2 -0,6 Tongwei Co. Ltd. Class A 1,4 47,6 0,5 0,1 50,1 0,7 BYD Company Limited Class H 0,2 0,0 0,0 1,1 47,2 -0,5 Taiwan Semiconductor Manufacturing Co.… 2,4 2,7 0,1 -- -- 0,4 NetEase, Inc 2,6 -26,1 -0,8 1,6 -17,2 -0,4 KE Holdings, Inc. Sponsored ADR Class A ------0,5 -65,1 0,4 New Oriental Education & Technology Gr… 0,5 -84,4 -0,8 0,3 -77,9 -0,3 China Mengniu Dairy Co., Ltd. 3,4 -0,1 0,1 0,7 -0,1 0,4 Shanghai Jin Jiang International Hotels C… 1,2 -29,9 -0,5 0,0 -27,8 -0,3 Hua Hong Semiconductor Ltd. 1,5 8,7 0,1 0,1 9,7 0,2 NIO Inc. Sponsored ADR Class A 0,5 -14,4 -0,1 2,2 1,8 -0,3 Zhejiang Sanhua Intelligent Controls Co., … 0,9 11,8 0,1 0,0 11,7 0,2 Country Garden Services Holdings Co. Ltd. 1,6 -28,0 -0,5 0,5 -26,4 -0,3 AIA Group Limited 3,1 -6,4 -0,2 -- -- 0,2 Ping An Insurance (Group) Company of C… 4,0 -28,5 -1,2 2,5 -28,9 -0,3 Zhongsheng Group Holdings Ltd. 1,8 -1,9 -0,1 0,2 -1,9 0,2 Kweichow Moutai Co., Ltd. Class A 2,0 -30,2 -0,7 0,8 -30,0 -0,2 China Merchants Bank Co., Ltd. Class H 3,8 -8,5 -0,2 1,6 -10,0 0,2 New Horizon Health Limited 0,5 -41,6 -0,3 -- -- -0,2

Page 2 - China Opportunities Fund - Retail Acc USD Relative Monthly Net Returns vs Peer Median

2% 1,4% 1,4% 1,3% 1,1% 1,2% 0,8% 0,8% 0,8% 0,8%

1% 0,8% 0,7% 0,7% 0,7% 0,5% 0,5% 0,5% 0,4% 0,4% 0,4% 0,3% 0,3% 0,3% 0,3% 0,2% 0,2% 0,1% 0,1% 0,1% 0,1% 0,1% 0,0% 0,0% 0% 0,0% -0,1% -0,1% -0,2% -0,2% -0,2% -0,3% -0,3% -0,4%

-1% -0,4% -0,4% -0,5% -0,5% -0,5% -0,6% -0,7% Return -0,8% -1,1% -1,2% -1,3%

-2% -1,3% -1,7% -1,7% -1,8% -1,9%

-3% -2,3% -2,5%

-4% -3,4%

09/16 03/17 09/17 03/18 09/18 03/19 09/19 03/20 09/20 03/21

Net Returns - All performance is sourced from Morningstar. Returns are calculated on a bid-bid basis and are net of all other expenses. Returns assume income is invested for local taxpayer. Gross Returns - Gross Fund returns (where shown) are inhouse calculated daily time weighted based on global close valuations with cash flows at start of day and are gross of fees. Relative returns are calculated on a geometric basis. Past performance is not a guide to future performance. The value of investments and any income from them can fall as well as rise. All positions are based on gross portfolio asset valuations at global close. Groupings of securities, e.g. sectors are in-house defined and are for comparative purposes only. Risk Analysis Portfolio Statistics Market Cap Breakdown Chart 3 YR 5 YR Fund Index Fund Index Fund Index Price to Earnings 17,1 12,5 >250bn 21,1% Absolute Volatility 20,4 20,6 18,3 18,5 Price to Book 3,5 1,7 150bn - 250bn 14,6% Relative Volatility 1,0 -- 1,0 -- 100bn - 150bn 11,7% Dividend Yield 1,3 1,7 Tracking Error 3,4 -- 3,0 -- 50bn - 100bn 13,1% 20bn - 50bn 24,1% Sharpe Ratio 0,3 -- 0,5 -- Return On Assets 1,8 1,9 10bn - 20bn 9,1% Information Ratio 0,0 -- 0,2 -- Return on Equity 20,3 14,0 5bn - 10bn 5,0% Beta 1,0 -- 1,0 -- 2bn - 5bn 0,9% Active Share 51,7 -- 1bn - 2bn 0,3% Sortino Ratio 0,5 -- 0,8 -- Jensen Alpha 0,1 -- 0,8 --

Annualised Alpha 0,1 -- 0,7 -- Currency: USD Analytics are based on global close valuations using Columbia Alpha 0,0 -- 0,1 -- Drawdown Max Drawdown -16,3 -16,6 -28,1 -26,8 Threadneedle Investments sourced market attributes. Underlying securities data may be provisional or based on 0% R² 97,2 -- 97,4 -- estimates. Market cap weightings include cash in the % -5% Ex post risk calculations are based on monthly gross global close returns. calculations. -10% -15%

-20%

-25% -30% 09/16 05/17 01/18 09/18 05/19 01/20 09/20 05/21 Fund Index

Performance Attribution (Year to Date) Total Effect Analysis (Year to Date) Geometric Attrib. 4 Var. In Fund Index Rel. Index Avg. Total Total Total Rel. to Alloc. Selec. Total 3 Weight Return Return Return Total Effect Effect Effect Financials Consumer Staples Health Care Communication Services 0,3 -17,8 -18,3 0,6 -8,3 -0,2 0,1 -0,1 Consumer Discretionary Communication 2 Consumer Discretionary 1,2 -20,0 -19,2 -1,0 -9,4 -0,2 -0,2 -0,4 TotalServices Consumer Staples 3,6 -9,8 -19,6 12,2 -9,8 -0,4 1,3 0,8 Energy -1,5 -- 33,2 -24,9 49,4 -0,5 -- -0,5 1 Financials 3,4 -5,5 -7,1 1,7 4,2 0,1 0,3 0,4 Information Technology Health Care -1,3 -1,2 1,1 -2,3 13,4 -0,2 -0,1 -0,3 0 Industrials -2,3 10,8 13,6 -2,4 27,4 -0,6 -0,2 -0,8

Information Technology -0,2 -0,9 -10,5 10,7 0,4 0,1 0,5 0,6 Variation in Average Weight Energy -1 Utilities Materials Materials -1,9 12,6 27,5 -11,7 43,0 -0,7 -0,2 -0,9 Real Estate Real Estate -1,7 -9,0 -18,0 11,0 -8,0 0,0 0,3 0,2 Utilities -2,3 1,3 21,6 -16,7 36,4 -0,7 0,0 -0,7 -2 Total -- -12,2 -10,8 -1,5 -- -3,2 1,7 -1,5 Industrials -25 -20 -15 -10 -5 0 5 10 15 Relative Total Return Performance Attribution - Rolling 3 Month Total Effects 3 Month Effect Totals

Geometric Attrib. 3,0 Alloc. Selec. Total Fund Index 2,0 Total Total Alloc. Selec. Total Return Return Effect Effect Effect 1,0 0,0 Aug-20 - Nov-20 4,1 7,5 0,2 -3,3 -3,1 -1,0 Nov-20 - Feb-21 9,8 10,5 -1,0 0,3 -0,7 -2,0 Feb-21 - May-21 -2,1 -3,6 -0,5 2,1 1,6 -3,0 May-21 - Aug-21 -14,3 -12,5 -1,8 -0,3 -2,1 -4,0 11/20 02/21 05/21 08/21

Attribution analysis is calculated on a daily geometric basis unless otherwise stated. Fund returns may result in residual factors when compared to geometric attribution total returns due to data and calculation methodologies. Variation in weights is the average daily under/overweight position of the fund verses the index over the period. The Attribution table and graph only display a maximum of 12 groupings based on the highest portfolio end weight. The Rolling 3 Month Total Effect Attribution summary is based on the same groupings as the Year to Date Attribution.

Page 3 - China Opportunities Fund - Retail Acc USD Share Classes Available Entry WKN/ Share Class Curr Tax OCF OCF Date Min Inv. Launch ISIN SEDOL BBID Valor/ Hedged Charge CUSIP Inst. Acc GBP -- 1,10% 30/04/21 0,00% 500.000 28/03/07 GB00B1PRWF12 B1PRWF1 THCSINA LN A0MMW5 No Inst. Acc EUR -- 1,10% 30/04/21 0,00% 750.000 28/03/07 GB00B1PRWG29 B1PRWG2 THCEINA LN A0MMW6 No Inst. Acc USD -- 1,10% 30/04/21 0,00% 800.000 28/03/07 GB00B1PRWJ59 B1PRWJ5 THCDINA LN A0MMW7 No Retail Acc GBP -- 1,67% 30/04/21 5,00% 2.000 28/03/07 GB00B1PRW734 B1PRW73 THCSRNA LN A0MMW2 No Retail Acc EUR -- 1,67% 30/04/21 5,00% 2.500 28/03/07 GB00B1PRW957 B1PRW95 THCERNA LN A0MMW3 No Retail Acc USD -- 1,67% 30/04/21 5,00% 3.000 28/03/07 GB00B1PRWC80 B1PRWC8 THCURNA LN A0MMW4 No Z Acc GBP -- 0,92% 30/04/21 3,00% 1.000.000 15/10/12 GB00B846CP88 B846CP8 THCOZNA LN A1J0DD No Z Acc EUR -- 0,92% 30/04/21 3,00% 1.500.000 11/09/14 GB00BPZ55C14 BPZ55C1 THCOZAE LN A12AAL No The Share Class currency, unless indicated as a Hedged Share Class, is a translated price using exchange rates at the official valuation point of the fund. This is intended as a way to access a Share Class in your chosen currency and does not reduce your overall exposure to foreign currency. The fund currency indicates the highest currency exposure of the fund unless the currency breakdown is detailed in the Weightings % table on page 2.

Risks Opportunities n The value of investments can fall as well as rise and investors might not get back the sum originally invested. nProvides exposure to a dynamic market. n Where investments are in assets that are denominated in multiple currencies, or currencies other than your own, changes in nWith typically between 50 and 70 stocks, we believe the Fund represents exchange rates may affect the value of the investments. a good balance of diversification and conviction. n The Fund invests in markets where economic and regulatory risk can be significant. These factors can affect liquidity, settlement and asset values. Any such event can have a negative effect on the value of your investment. nClose contact with companies ensures a thorough understanding of n The Fund may invest through the China-Hong Kong Stock Connect programmes which have significant operational constraints performance drivers and helps to build conviction. including quota limits, are subject to regulatory change and increased counterparty risk. nManaged by a well-resourced and highly-regarded Global Emerging n The Fund holds assets which could prove difficult to sell. The Fund may have to lower the selling price, sell other investments Markets and Asia ex.Japan equity team. or forego more appealing investment opportunities. n The Fund may invest in derivatives with the aim of reducing risk or minimising the cost of transactions. Such derivative transactions may benefit or negatively affect the performance of the Fund. The Manager does not intend that such use of derivatives will affect the overall risk profile of the Fund.

Important Information For use by Professional and/or Qualified Investors only (not to be used with or passed on to retail clients). Past performance is not a guide to future performance. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fluctuations. This means that an investor may not get back the amount invested. Your capital is at Risk. Threadneedle Specialist Investment Funds ICVC (“TSIF”) is an open-ended investment company structured as an umbrella company, incorporated in England and Wales, authorised and regulated in the UK by the Financial Conduct Authority (FCA) as a UK UCITS scheme. This material is for information only and does not constitute an offer or solicitation of an order to buy or sell any securities or other financial instruments, or to provide investment advice or services. The dealing price may include a dilution adjustment where the fund experiences large inflows and outflows of investment. Further details are available in the Prospectus. Subscriptions to a Fund may only be made on the basis of the current Prospectus and the Key Investor Information Document (KIID), as well as the latest annual or interim reports, which can be obtained free of charge on request, and the applicable terms & conditions. Please refer to the ‘Risk Factors’ section of the Prospectus for all risks applicable to investing in any fund and specifically this Fund. The above documents are available in English, French, German, Portuguese, Italian, Spanish and Dutch (no Dutch Prospectus) and free of charge on request from Threadneedle Investment Services Ltd, Client Services department P.O. Box 10033, Chelmsford, Essex CM99 2AL. Portfolio positions are based on gross asset valuations at global close (not official NAV time). Historic Yield reflects distributions declared over the past 12 months. Distribution Yield reflects the amount that may be expected to be distributed over the next 12 months. Underlying Yield reflects the annualised income net of expenses of the fund. Yields shown do not include any preliminary charge and investors may be subject to tax on their distributions. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. Issued by Threadneedle Investment Services Limited. Registered in England and Wales, Registered No. 3701768, Cannon Place, 78 Cannon Street, London EC4N 6AG, United Kingdom. Authorised and regulated in the UK by the Financial Conduct Authority (FCA). Index data Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or re-disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an "as is" basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the "MSCI parties") expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com) The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s, a division of The McGraw-Hill Companies Inc. (“S&P”) and is licensed for use by Threadneedle Asset Management Limited. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential, or any other damages (including lost profits) even if notified of the possibility of such damages. Some of these identifiers have been determined by Threadneedle Asset Management Limited, may vary from the official classifications within Global Industry Classification System (GICS) and are not supported or sponsored by GICS providers MSCI or Standard & Poor’s.

Page 4 - China Opportunities Fund - Retail Acc USD Modified Date - 09 September 2021