Ethical Trans-Tasman Fund Fact Sheet – April 2021

Investment Objective Fund Performance (after fees, before tax)

Ethical investing in Australasian equities to achieve above 1 6 1 average long-term risk adjusted returns. Performance Inception month months year p.a. The Fund invests directly in Australasian equities, listed property companies and other assets that satisfy Pathfinder’s ethical 1 investment criteria. This is a high-conviction fund of top Fund Return 1.9% 9.2% 36.9% 25.2% investment ideas and targets a portfolio of 10 to 40 holdings. Benchmark 2 2.1% 12.2% 24.6% 11.0% Investing Ethically Return

1. UN Sustainable Development Goals: Aspiring for investment Outperformance -0.2% -3.0% 12.3% 14.2% decisions to contribute to UN Sustainable Development Goals.

2. Environmental, social and governance focus: Focusing 1 Performance as at 30 April 2021. Trading started: October 2019. investment into companies that rate higher on environmental, 2 50/50 composite of NZX 50 and ASX 200 Index social and governance criteria. 3. Climate change awareness: Companies with a lower carbon Actual Investment Mix intensity and a plan for managing the transition to a low carbon economy make better long-term investments. Healthcare: 25.4% 4. Aware, Fair, Care: Avoiding investment in companies Consumer Staples: 12% engaged in industries or activities seen as harmful. Utilities: 11.3% 5. Engagement and shareholder voting: Engaging and voting as a shareholder can bring about positive change. Information Technology: 10.6% Please refer to our Ethical Investment Policy for more details. Industrials: 10% Real Estate: 4.2%

Investor Suitability Communication Services: 12% The Ethical Trans-Tasman Fund is suited to an investor with a Financials: 12.6% medium-high tolerance to risk and a minimum investment Materials: 0% timeframe of 5+ years. Cash: 2% The strategy has a majority weighting to Australasian equities with the rest in cash/cash equivalents. Consequently, there will be some volatility in the value of your investments which can result in low or negative returns on occasion. Geographic NZ AU Breakdown 56.4% 43.6% Fees & Costs Annual Fee: 1.00% (plus applicable GST) Top 10 Equity Holdings Buy spread: 0.15% (for investing) Sell spread: 0.15% (for withdrawing) 1. NATIONAL AUSTRALIA BANK LTD 2. SPARK LTD Risk Indicator 3. CORP LTD 4. DE. MEM LTD 5. EBOS GROUP LTD

6. See Pathfinder website for further information on the calculation NEXTDC LTD of the risk indicator. 7. OCEANIA HEALTHCARE LIMITED Contact 8. CSL LIMITED 9. 0800 ETHICAL (384 422) SCALES CORPORATION LIMITED [email protected] 10. KIWI PROPERTY GROUP LTD Level 37, PwC Tower, 15 Customs Street West, , 1010

Hamesh Sharma, Portfolio Manager Disclaimer: This document is for information purpose only. This document does not constitute +64 27 878 3600 [email protected] a recommendation and should not be taken as a recommendation of any course of action. Paul Brownsey, Chief Investment Officer This document is not advice and should not be taken as providing investment, legal or tax +64 21 447 076 [email protected] advice. Past performance should not be taken as an indication or guarantee of future performance, and Pathfinder makes no warranty or representation about future performance. Units in the Pathfinder Ethical Trans-Tasman are issued by Pathfinder Asset The information in this document is believed to be materially correct but Pathfinder makes no Management Limited. A Product Disclosure Statement for the offer is available from representation or warranty as to its accuracy or completeness. To the fullest extent permitted www.path.co.nz by law, Pathfinder accepts no liability for any inaccuracy or omission in this document.