Tata Multi Asset Opportunities Fund (An Open Ended Scheme investing in equity, debt & exchange traded commodity derivatives) Riskometer As on 31st May 2021 PORTFOLIO Company name % of Company name % to % to NAV INVESTMENT STYLE Assets NAV Derivatives Fund invests in a mix of equity and equity related instruments, Fixed Equity & Equity Related Total 64.66 Ltd. 0.50 Income and Commodities & Exchange traded Commodity derivatives. Unhedge Positions 59.69 Bharti Airtel Ltd.- Future -0.50 INVESTMENT OBJECTIVE Auto Housing Development Finance Corporation Ltd. 0.47 The investment objective of the scheme is to generate long term capital Mahindra & Mahindra Ltd. 1.24 Housing Development Finance Corporation Ltd.- Future -0.47 appreciation. However, there is no assurance or guarantee that the Banks Lupin Ltd. 0.42 investment objective of the Scheme will be achieved. The scheme does ICICI Bank Ltd. 4.61 Lupin Ltd.- Future -0.42 not assure or guarantee any returns. State Bank Of 2.75 Ultratech Cement Ltd. 0.17 DATE OF ALLOTMENT HDFC Bank Ltd. 2.47 Ultratech Cement Ltd.- Future -0.17 March 04, 2020 Ltd. 1.13 Ltd. 0.11 Capital Markets Reliance Industries Ltd.- Future -0.11 FUND MANAGER UTI Asset Management Company Ltd. 0.35 Company name No. of Market Value % of Rahul Singh (Equity) (Managing Since 12-Mar-20 and overall Cement Assets experience of 25 years), Sailesh Jain (Equity Arbitrage) (Managing Shares Rs. Lakhs Ultratech Cement Ltd. 1.72 Since 12-Mar-20 and overall experience of 17 years), Murthy ACC Ltd. 1.05 Others - INVITS 336.19 0.47 Nagarajan (Fixed Income) (Managing Since 12-Mar-20 and overall Chemicals INVITS experience of 24 years) and Aurobinda Prasad Gayan (Commodities) Powergrid Infrastructure Investment Trust 300300 336.19 0.47 (Managing Since 12-Mar-20 and overall experience of 15 years) Navin Fluorine International Ltd. 0.67 Construction Company name % to % to NAV BENCHMARK Dlf Ltd. 0.61 NAV Derivatives 65% S&P BSE 200 TRI + 15% CRISIL Short Term Bond Fund Index Construction Project + 20% iCOMDEX Composite Index Commodity & Exchange Traded Commodity Derivatives 20.00 -19.41 Larsen & Toubro Ltd. 1.50 Commodities Physical NAV Consumer Durables Gold Mini (100 Grams) Commodity 6.46 Direct - IDCW : 14.2698 Crompton Greaves Consumer Electricals Ltd. 0.65 Silver (30 K Commodity 1.40 Direct - Growth : 14.2698 Consumer Non Durables Silver Mini (5 Kgs) Commodity 7.53 Regular - IDCW : 13.9335 Akzo Nobel India Ltd. 0.83 Listed On Commodity Exchanges (Quantity In Lots) Regular - Growth : 13.9335 Ltd. 0.78 Cotton Seed Oil Cake Akola (10 Mt 100 Qtls) Comm 0.04 Ltd. 0.75 FUND SIZE - Cocudaklncxjun2021Fut 3M India Ltd. 0.69 Copper (2500 Kgs) Commodity - Coppermcxjul2021Fut 0.27 Rs. 719.02 (Rs. in Cr.) Ferrous Metals Copper (2500 Kgs) Commodity - Coppermcxjun2021Fut -0.27 MONTHLY AVERAGE AUM Jindal Steel & Power Ltd. 0.59 Crude Oil (100 Barrels) Commodity - Crudeoilmcxjul2021Fut 0.22 Rs. 693.80 (Rs. in Cr.) Fertilisers Crude Oil (100 Barrels) Commodity - Crudeoilmcxjun2021Fut -0.22 Chambal Fertiliser & Chemicals Ltd. 0.79 Gold Mini (100 Grams) Commodity - Goldmmcxjun2021Fut 3.12 TURN OVER Finance Gold Mini (100 Grams) Commodity - Goldmmcxjul2021Fut -3.13 Portfolio Turnover (Total) 435.85% Housing Development Finance Corporation Ltd. 2.52 Gold Mini (100 Grams) Commodity - Goldmmcxjul2021Fut -6.50 Portfolio Turnover (Equity component only) 37.28% Gas Guar Gum Jodhpur (5 Mt - 50 Qtls) Commodity -0.13 EXPENSE RATIO** State Petronet Ltd. 0.70 - Guargum5Ncxjun2021Fut Healthcare Services Guar Gum Jodhpur (5 Mt - 50 Qtls) Commodity 0.14 Direct 0.63 Enterprise Ltd. 0.83 Regular 2.47 - Guargum5Ncxjul2021Fut Dr. Lal Path Labs Ltd. 0.55 **Note: The rates specified are actual month end expenses charged Guar Gum Jodhpur (5 Mt - 50 Qtls) Commodity 0.05 as on May 31, 2021. The above ratio includes the Service tax on Narayana Hrudayalaya Ltd. 0.49 - Guargum5Ncxjul2021Fut Investment Management Fees. The above ratio excludes, Industrial Capital Goods Guar Seed10 Jodhpur (10 Mt 100 Qtls) Commodity 0.04 proportionate charge (out of maximum 30 bps on daily average net Abb India Ltd. 0.97 assets allowed) in respect sales beyond T-30 cities assets, wherever - Guarseed10Ncxjul2021Fut applicable. Thermax Ltd. 0.59 Jeera Unjha (3 Mt 30 Qtls) Commodity 0.06 Industrial Products VOLATILITY MEASURES^ FUND BENCHMARK - Jeeraunjhancxjun2021Fut India Ltd. 0.95 Mcxbulldex - Mcxbulldexmcxjun2021Fut 0.34 Std. Dev (Annualised) 10.58 16.07 Polycab India Ltd. 0.68 Mcxmetdex - Mcxmetdexmcxjul2021Fut 0.11 Sharpe Ratio 0.97 0.74 Insurance Mcxmetdex - Mcxmetdexmcxjun2021Fut 0.11 Portfolio Beta 0.83 1.00 0.81 R Squared 0.87 1.00 ICICI Prudential Life Insurance Company Ltd. Natural Gas (1250 Mmbtu) Commodity -0.04 Treynor 3.54 3.40 ICICI Lombard General Insurance Co. Ltd. 0.72 - Naturalgasmcxjun2021Fut Jenson 0.11 NA Minerals/Mining Natural Gas (1250 Mmbtu) Commodity 0.04 NMDC Ltd. 0.37 Portfolio Macauley Duration : 1.31 Years - Naturalgasmcxjul2021Fut Modified Duration : 1.27 Years Non - Ferrous Metals Rape Mustard Seed Jaipur (10 Mt -100 Qtls) Commodity -0.10 Average Maturity : 1.49 Years National Aluminium Co. Ltd. 1.27 - Rmseedncxjun2021Fut Gross Yield to Maturity (For Debt Component)* Pesticides Rape Mustard Seed Jaipur (10 Mt -100 Qtls) Commodity 0.10 - Including Net Current Assets : 4.30% Pi Industries Ltd. 0.95 - Rmseedncxjul2021Fut * Computed on the invested amount for debt portfolio. Petroleum Products Silver (30 K Commodity - Silvermcxsep2021Fut -1.40 Total stock in Portfolio 65 Reliance Industries Ltd. 3.49 Silver Mini (5 Kgs) Commodity - Silvermmcxjun2021Fut -1.92 Corporation Ltd. 0.91 Silver Mini (5 Kgs) Commodity - Silvermmcxaug2021Fut -5.70 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 3.39% as Pharmaceuticals on May 31, 2021 Name of the Instrument Ratings Market Value % to 1.30 Dr Reddys Laboratories Ltd. Rs. Lakhs NAV For calculation methodology please refer to Pg 68 0.98 Sun Pharmaceutical Industries Ltd. Government Securities 3587.40 4.99 MINIMUM INVESTMENT/ Ltd. 0.95 GOI - 7.27% (08/04/2026) SOV 1913.20 2.66 MULTIPLES FOR NEW INVESTMENT Divi Laboratories Ltd. 0.64 GOI - 7.32% (28/01/2024) SOV 1597.05 2.22 Growth option: Rs 5,000/- and in multiple of Re.1/- thereafter Power GOI - 5.77% (03/08/2030) SOV 77.15 0.11 IDCW (payout): Rs 5,000/- and in multiple of Re.1/- thereafter Power Grid Corporation Of India Ltd. 1.24 Non-Convertible Debentures/Bonds 840.03 1.17 Company Ltd. 1.22 08.50 % Nabard CRISIL AAA 530.35 0.74 ADDITIONAL INVESTMENT/ Kec International Ltd. 0.95 06.40 % Nabard CRISIL AAA 309.68 0.43 MULTIPLES FOR EXISTING INVESTORS Retailing Money Market Instruments 1495.26 2.08 V-Mart Retail Ltd. 0.40 Axis Bank Ltd. - CD CRISIL A1+ 1495.26 2.08 Rs.1000/-& in multiples of Re.1/-thereafter. Software Repo 7.56 LOAD STRUCTURE Ltd. 3.45 HCL Technologies Ltd. 1.62 Portfolio Total 100.91 Entry Load : Not Applicable Ltd. 0.94 Net Current Liabilities -0.91 Exit Load : Mastek Ltd. 0.94 Net Assets 100.00 • Exit Load is Nil, if the withdrawal amount or switched out amount is Tata Consultancy Services Ltd. 0.90 not than 12% of the original cost of investment on or before Persistent Systems Ltd. 0.62 expiry of 365 days from the date of allotment. • Exit load is 1% of the applicable NAV if the withdrawal amount or Telecom - Services switched out amount is more than 12% of the original cost of Bharti Airtel Ltd. 2.28 investment on or before expiry of 365 days from the date of Textiles - Synthetic allotment. Ganesha Ecosphere Ltd. 0.51 • No Exit load will be charged for redemption or switch out after expiry Transportation of 365 days from the date of allotment Adani Ports And Special Economic Zone Ltd. 0.77 Please refer to our Tata Mutual Fund website for Company name % to % to NAV fundamental changes, wherever applicable NAV Derivatives Hedge Positions 4.97 -4.96 Ltd. 0.80 Tata Steel Ltd.- Future -0.79 Tata Consultancy Services Ltd. 0.70 Tata Consultancy Services Ltd.- Future -0.70 Infosys Ltd. 0.70 Infosys Ltd.- Future -0.70 Ltd. 0.55 Wipro Ltd.- Future -0.55 Ltd. 0.55 Hindustan Unilever Ltd.- Future -0.55 www.tatamutualfund.com Mutual Fund investments are subject to market risks, read all scheme related documents carefully TATA MUTUAL FUND 35 Tata Multi Asset Opportunities Fund (An Open Ended Scheme investing in equity, debt & exchange traded commodity derivatives) Riskometer

SIP - If you had invested INR 10000 every month 1 Year 3 Year 5 Year 7 Year 10 Year Since Inception Total Amount Invested (Rs.) 120,000 NA NA NA NA 140,000 Total Value as on May 31, 2021 (Rs.) 143,962 NA NA NA NA 174,324 Returns 39.18% NA NA NA NA 40.90% Total Value of B: 65% S&P BSE 200 TRI + 15% CRISIL Short Term Bond 146,196 NA NA NA NA 178,704 Fund Index + 20% iCOMDEX Composite Index B: 65% S&P BSE 200 TRI + 15% CRISIL Short Term Bond Fund Index 43.02% NA NA NA NA 46.29% + 20% iCOMDEX Composite Index Total Value of AB: S&P BSE Sensex TRI 149,660 NA NA NA NA 184,866 AB: S&P BSE Sensex TRI 49.04% NA NA NA NA 53.94% (Inception date :04-Mar-2020) (First Installment date : 01-Apr-2020) 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 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. *B: Benchmark Source: MFI Explorer

Top 10 Holdings Equity Sector Allocation Issuer Name % to NAV Financial Services 15.83% IT 10.43% ICICI Bank Ltd. 4.61 Oil & Gas 5.20% Pharma 4.28% Infosys Ltd. 4.15 Consumer Goods 4.25% Reliance Industries Ltd. 3.59 Power 3.41% Industrial Manufacturing 3.20% HDFC Ltd. 2.99 Metals 3.04% Cement & Cement Products 2.93% Bharti Airtel Ltd. 2.78 Telecom 2.78% Construction 2.11% V State 2.75 Healthcare Services 1.87% HDFC Bank Ltd. 2.47 Fertilisers & Pesticides 1.74% Automobile 1.24% Ultratech Cement Ltd. 1.88 Services 0.77% Chemicals 0.67% HCL Technologies Ltd. 1.62 Textiles 0.51% Tata Consultancy Services Ltd. 1.60 Consumer Services 0.40% Total 28.44 0.00% 4.00% 8.00% 12.00% 16.00% 20.00%

Market Capitalisation wise Exposure NAV Movement

Large Cap 70.41% Tata Multi Asset Opportunities Fund - Reg - Growth 65% S&P BSE 200 TRI + 15% CRISIL Short Term Bond Fund Index + 20% iCOMDEX Composite Index

Mid Cap 20.04% 160 144 Small Cap 9.55% 128 112 96 80 Market Capitalisation is as per list provided by AMFI. Mar-20 Aug-20 Jan-21 May-21

www.tatamutualfund.com Mutual Fund investments are subject to market risks, read all scheme related documents carefully TATA MUTUAL FUND 36