Fact Sheet – March 2021

Investment Objective Fund Performance (after fees, before tax)

Ethical investing to achieve medium to high returns with a higher risk focus over the minimum recommended investment 1 3 6 timeframe of 10+ years. Performance month months months Inception An ethical portfolio with a higher exposure to growth assets and a lower exposure to income assets. Investments are spread across multiple asset types, geographies, companies, and Fund Return1 2.7% 0.9% 9.1% 9.9% sectors to provide diversification. The investment strategy includes management of foreign currency exposure to New Zealand dollars. Benchmark 2 2.8% 1.8% 10.5% 10.5% The fund invests globally but has a home bias to Australia and Return New Zealand. The fund is also carbon emissions neutral. Our ownership share of the CO2 equivalents emitted by the 1 Performance as at 31 March 2021. Trading started: September 2020. companies we invest in is offset using carbon credits (at the cost 2 of Pathfinder, not the Fund). 5% Bloomberg NZ Bank Index 20% Bloomberg Barclays Global Aggressive 20% S&P/NZX50 and 20% S&P/ASX200 Indexes 35% Morningstar Developed Markets Index Investing Ethically Actual Investment Mix 1. UN Sustainable Development Goals: Aspiring for investment decisions to contribute to UN Sustainable Development Goals.

2. Environmental, social and governance focus: Focusing investment into companies that rate higher on environmental, social and governance criteria. Australasian Equities: 36.7%

3. Climate change awareness: Companies with a lower carbon Cash and Cash Equivalents: 10.7% intensity and a plan for managing the transition to a low carbon International Equities: 25.6% economy make better long-term investments. Listed Property: 2.2% 4. Aware, Fair, Care: Avoiding investment in companies engaged in industries or activities seen as harmful. New Zealand Fixed Interest: 9.2%

5. Engagement and shareholder voting: Engaging and voting International Fixed Interest: 15.6% as a shareholder can bring about positive change.

InvestorPlease refer toSuitability our Ethical Investment Policy for more details. The Growth Fund is suited to an investor with a medium-high tolerance to risk and a minimum investment timeframe of 10+ Top 10 Equity Holdings years. The strategy has a greater weighting to growth assets compared 1. OCEANIA HEALTHCARE to income assets. Consequently, there will be some volatility in the value of your investments which could result in low or 2. SPARK NEW ZEALAND negative returns on occasion. 3. TELSTRA CORP Fees & Costs 4. EBOS GROUP Annual Fee: 1.26% (plus applicable GST) Buy spread: 0.05% (for investing) 5. AUCKLAND INTERNATIONAL AIRPORT Sell spread: 0.05% (for withdrawing) 6. KIWI PROPERTY GROUP Risk Indicator 7. CSL LTD

8. MACQUARIE GROUP

9. SCALES CORPORATION See Pathfinder website for further information on the calculation of the risk indicator. 10. DE.MEM LTD Contact 0800 ETHICAL (384 422) Disclaimer: This document is for information purpose only. This document does not constitute [email protected] a recommendation and should not be taken as a recommendation of any course of action. Level 37, PwC Tower, 15 Customs Street West, Auckland, 1010 This document is not advice and should not be taken as providing investment, legal or tax advice. Past performance should not be taken as an indication or guarantee of future Paul Brownsey, Chief Investment Officer performance, and Pathfinder makes no warranty or representation about future performance. +64 21 447 076 [email protected] The information in this document is believed to be materially correct but Pathfinder makes no representation or warranty as to its accuracy or completeness. To the fullest extent permitted Units in the Pathfinder Ethical Growth Fund are issued by Pathfinder Asset by law, Pathfinder accepts no liability for any inaccuracy or omission in this document. Management Limited. A Product Disclosure Statement for the offer is available from www.path.co.nz