Who we invest in As at 30 June 2021

We believe in providing full transparency of what you are investing in. This document outlines the entire list of investments that make up each of the Ethical Investment portfolios.

Ethical Investment Growth Portfolio

Managers We Invest In

We currently invest in the following funds:

Australian Ethical Emerging Companies Fund

BetaShares Australian Sustainability Leaders ETF

BetaShares Global Sustainability Leaders ETF

Impax Sustainable Leaders Fund

Nanuk New World Fund

Pengana WHEB Sustainable Impact Fund

eInvest (Perennial) Better Future Fund

Stewart Investors Worldwide Sustainability Fund

Companies We Invest In

Below is the full list of companies held in the Ethical Investment Growth Portfolio:

• 3m Co • Arena REIT • Ordinary • 4dmedical Ltd Ordinary Shares • Arena Reit. Ordinary Units • Ltd • A. O. Smith Corporation • Argenx Se • Bristol-Myers Squibb Co • A2 Milk Co Ltd/The • Arista Networks Inc • Bubs Ltd • • Ashtead Group Plc • Bunzl Plc • Abbvie Inc • Asm International Nv • Burlington Stores Inc • Accenture Plc Class A • Assa Abloy Ab B • Bwp Trust Ordinary Units • Activision Blizzard Inc • Assicurazioni Generali Spa • Calix Limited Ordinary • Adecco Group Ag • Astellas Pharma Inc • Canadian National Railway Co • Adobe Inc • Astrazeneca Plc • Canadian Pacific Railway Ltd • Advanced Drainage Systems Inc • Asx Limited Ordinary • Capital One Financial Corp • Advantest Corp • Atlas Copco • Carlisle Companies Inc • Adyen Nv • Aub Group Ltd • Carrier Global Corp Ordinary Shares • Aflac Inc • Ausdoc Group Ltd. • Cdw Corp/De • Agilent Technologies Inc • Australian Ethical Investment • Centene Corp • Aia Group Ltd • Australian Pharmaceutical Indu • Central Japan Railway Co • Ain Holdings • Auswide Bank Ltd Ordinary • Centuria Capital Stapled • Air Liquide Sa • Autodesk Inc • Cerner Corp • Air Water Inc • Automatic Data Processing Inc • Challenger Limited Ordinary • Akzo Nobel Nv • Avalonbay Communities Inc • Charles Schwab Corp/The • Alcon Inc • Avery Dennison Corp • Charter Communications Inc • Alfen Beheer B.V • Aviva Plc • Charter Hall Group • Allegion Plc • Axa Sa • Charter Hall Social Infrastructure • Ally Financial Inc • Bandai Namco Holdings Inc Reit • Alpha Hpa Ltd • . Ordinary • Check Point Software Technologies • Alstom Sa • Bapcor Ltd Ltd • Alten • Bayerische Motoren Werke Ag • China Everbright Environment • Ltd • Becton Dickinson And Co Group Ltd • Amazon.Com Inc • Ltd • China Railway Signal & • American Express Co • Bendigo & Adelaide Bank Ltd Communication Corp Ltd H • American Water Works Co Inc • Best Buy Co Inc • Ordinary • Ameriprise Financial Inc • Bingo Industries Ltd • Chr. Hansen Holding A/S • Amgen Inc • Biogen Inc • Chugai Pharmaceutical Co Ltd • Ltd • Biomarin Pharmaceutical Inc • Cigna Corp • Ansys Inc • Biomerieux SA • Cisco Systems Inc • Anthem Inc • Bio-Rad Laboratories Inc • Citrix Systems Inc • Appen Ltd • Bkw Ag • City Chic Collective Ltd • Apple Inc • Limited Ordinary • Ck Asset Holdings Ltd • Applied Materials Inc • Blackrock Inc • Waste Management Ltd • Aptiv PLC • Booking Holdings Inc • Cleanspace Holdings Ltd Ordinary Shares • Arcadis NV • Boston Scientific Corp • • Cognex Corporation • Etsy Inc • Home Depot Inc/The • Cognizant Technology Solutions Corp• A Expedia Group Inc • Honda Motor Co Ltd • Coloplast A/S Class B • Extra Space Storage Inc • Hong Kong Exchanges & Clearing • Compagnie De Saint-Gobain SA • F5 Networks Inc • Horiba Ltd • Ltd Ordinary • Fanuc Corp • Host Hotels & Resorts Inc • Comsys Holdings Corp • Fast Retailing Co Ltd • Housing Development Finance • Constellation Software Inc. • Fastenal Co Corporation Limited • Control Bionics Ltd Ordinary Shares• Ferguson PLC • Hoya Corp. • Copart Inc • First Solar Inc • Hub24 Ltd Ordinary • Holdings Ltd • Fisher & Paykel H. Ordinary • Hubbell Inc • Costar Group Inc • Ltd • Hubspot Inc • Coupa Software Inc • Ford Motor Co • Humana Inc • Croda International Plc • Fortinet, Inc. • Hyundai Mobis Co Ltd • Crown Castle International Cor • G8 Education Limited Ordinary • Icon PLC • Csl Limited • Galaxy Resources Ltd • Idex Corp • Cvs Health Corp • Garmin Ltd • Idp Education Ltd • Daifuku Co Ltd • Gea Group Ag • Illinois Tool Works Inc • Daiichi Sankyo Co Ltd • Geberit AG • Illumina, Inc. • Daikin Industries Ltd • Genetic Signatures Ltd • Immutep Ltd • Danaher Corp • Genex Power Ltd Ordinary • Imricor Medical Systems Inc • Deere & Co • Georg Fischer Ag Chess Depository Interest • Delta Electronics Inc • Gilead Sciences Inc • Incyte Corp • Denso Corp • Glaxosmithkline Plc • Infineon Technologies Ag • • Gn Store Nord A/S • Ingenia Communities Group • Diasorin Spa • Godrej Consumer Products • Inspire Medical Systems Inc • Diploma PLC Limited • Insurance Australia Group Ltd • Doctor Care Anywhere Group Plc • • Intact Financial Corp Chess Depository Interest • Gpt Group Stapled Sec. • Integral Diagnostics Ltd • Docusign Inc • Graincorp Limited A Class • Integrated Research Ltd • Dsm Nv Formerly Naamloze Ordinary • Intel Corp Vennootschap Ds • Grand Canyon Education Inc • Intertek Group Plc • Dubber Corp Ltd Ordinary • Graphic Packaging Holding Co • Intuit Inc • Ebay Inc • Growthpoint Properties Austral • Invocare Limited Ordinary • Ecolab Inc • Guardant Health Inc • Iph Ltd • Edwards Lifesciences Corp • Gud Holdings Ltd • Iress Ltd • Edwards Lifesciences Corporation • Gwa Group Ltd • Jack Henry & Associates, Inc. • Eisai Co Ltd • Halma PLC • Janison Education Group Ltd • Eqt Holdings Ltd • Hartford Financial Services Gr • Cdi 1:1 • Equinix Inc • Healius Ltd • Jb Hi-Fi Ltd • Equitable Holdings Inc • HELLA Gmbh & Co Kgaa • Jb Hunt Transport Services Inc • Equity Residential • Hellofresh SE Bearer Shares • Kandenko Co Ltd • Eroad Ltd • Hennes & Mauritz Ab • Kathmandu Holdings Ltd • Essex Property Trust Inc • Henry Schein Inc • Keio Corp • Essilorluxottica Sa • Hikma Pharmaceuticals Plc • Kerry Group Plc • Keyence Corp • Mettler-Toledo International I • Orora Limited Ordinary • Keysight Technologies Inc • Mettler-Toledo International Inc • Orpea SA • Kikkoman Corp • Microsoft Corp • Orsted A/S • Kion Group Ag • Micro-X Ltd • Pact Group Holdings Ltd • Knorr-Bremse Ag • Mimecast Ltd • Palo Alto Networks Inc • Kone Oyj Class B • Group • Paychex Inc • Koninklijke DSM NV • Mitsui Fudosan Co Ltd • Paycom Software Inc • Kotak Mahindra Bank Limited • Molina Healthcare Inc • Paypal Holdings Inc • Kubota Corp • Mondi PLC • Pearson PLC • Kyudenko Corp • Monotaro Co., Ltd. • Pendal Group Ltd • Laboratory Corp Of America Hol • Motorola Solutions Inc • Pennon Group Plc • Lam Research Corp • Msa Safety Inc • Pentair PLC • Lear Corp • Muenchener Rueckversicherungs- • People Infrastructure Ltd • Lennox International Inc • Nanosonics Ltd • Perkinelmer Inc • Lenzing AG • Ncsoft Corp • Perpetual Ltd • Liberty Broadband Corp • Neogen Corporation • Phoslock Environmental • Limeade Inc Chess Depository • Netapp Inc Technologies Ltd Interest • Netwealth Group Ltd • Ltd • Linde PLC • Netwealth Group Ordinary • Plug Power Inc • Link Admin Hldg Ordinary • New Energy Solar Ltd • Polynovo Limited Ordinary • Littelfuse Inc • Next Science Ltd • Pool Corp • Live Nation Entertainment Inc • Nextdc Ltd • Premier Inc Class A • Lkq Corp • Nib Holdings Ltd • Pro Medicus Ltd • Logitech International Sa • Nice Ltd • Prologis Inc • M3 Inc • Nihon Kohden Corp • Prudential Plc • Mach7 Technologies Ltd • Co Holdings • Ptc Inc • Macquarie Telecom Gp Ordinary • Nissan Motor Co Ltd • Publicis Groupe Sa • Magellan Financial Group Ltd • Nn Group Nv • Pyrolyx Ag Cdi 15:1 Fxmp Fse • Marico Limited • Nokia Oyj • Qualcomm Inc • Marley Spoon Ag • Nordson Corporation • Quest Diagnostics Inc • Marvell Technology Inc • Northern Trust Corp • Ltd • Mastercard Inc • Novartis Ag • Rational AG • Mcafee Corp Ordinary Shares - • Novo Nordisk A/S • Raymond James Financial Inc Class A • Novonix Limited Ordinary • Rea Group Ordinary • Mccormick & Co Inc/Md • Nuance Communications Inc • Recce Pharmaceutical Ordinary • Medadvisor Ltd • Nvidia Corp • Recruit Holdings Co Ltd • Private Ltd Ordinary • Ocado Group Plc • Regeneron Pharmaceuticals Inc • Medical Developments Ordinary • Okta Inc • Relx Plc • Medtronic PLC • Omni Bridgeway Ltd • Resmed Inc • Megaport Ltd • Omnicom Group Inc • Ringcentral Inc • Mercury Nz Limited Ord • Ono Pharmaceutical Co Ltd • Roche Holding Ag For.Exempt Nzx • Oracle Corp • Rockwell Automation Inc • Meridian Energy Ordinary • Oriental Land Co Ltd/Japan • Rogers Communications Inc • Mesoblast Limited Ordinary • Ltd • Roper Technologies Inc • Royal Philips Nv • • Unicharm Corporation • S&P Global Inc • Strategic Education Inc • Unilever Plc • Sampo Oyj • Stryker Corp • United Malt Group Limited • Samsung Electronics Co Ltd • Suez SA • United Utilities Group Plc • Sanofi • Ltd • Unitedhealth Group Inc • Sap Se • Sunrun Inc • Uniti Group Ltd • Sba Communications Corp • Superloop Ltd • Veeva Systems Inc • Sca Property Group Stapled • Swiss Life Holding Ag • Environnement Sa Securities • Swiss Re Ag • Verisk Analytics Inc • Schneider Electric Se • Swisscom Ag • Vestas Wind Systems A/S • Seagen Inc • Synchrony Financial • • Sealink Travel Group Ltd • Sysco Corp • Visa Inc • Ordinary • Sysmex Corp • Vitasoy International Holdings • Segro Plc • T Rowe Price Group Inc • Vmware Inc • Sekisui House Ltd • Taiwan Semiconductor • Volkswagen Ag • Select Harvests Ltd Manufacturing Co Ltd Adr • Volpara Health Tech Ordinary • Shimadzu Corp • Takeda Pharmaceutical Co Ltd • Vonovia Se • Shimizu Corp • Take-Two Interactive Software • Walgreens Boots Alliance Inc • Shin-Etsu Chemical Co Ltd • Tata Consultancy Services Limited • Waste Connections Inc • Shionogi & Co Ltd • Te Connectivity Ltd • Waste Management Inc • Siemens AG • Teamviewer AG Bearer Shares • Waters Corp • Siemens Healthineers Ag • Tecan Group Ag • Weg S.A. Registered Shares • Technology One Ltd • West Fraser Timber Co.Ltd • Sig Combibloc Group Ag Ordinary • Telix Pharmaceuticals Ltd • Westinghouse Air Brake Shares Ordinary Shares Technologies Corp • Sigma Health Ltd Ordinary • Corp Ltd • Westrock Co A • Silicon Laboratories Inc • Terna Rete Elettrica Nazionale • Wide Open Agricultur Ordinary • Sims Limited Ordinary • Texas Instruments Inc • Wisetech Global Ltd • Smartgroup Corporation Ltd • The Cooper Companies Inc • Wolters Kluwer Nv • Smurfit Kappa Group Plc • Thermo Fisher Scientific Inc • Workday Inc • Ltd • Tjx Cos Inc/The • Worldline SA • Sonova Holding Ag • Tokio Marine Holdings Inc • Worldline Sa/France • Southern Cross Media Group Ltd • Tokyo Electron Ltd • Wp Carey Inc • Stapled • Tomra Systems • Wpp Plc Securities • Tomtom NV • Ltd • Ltd • Toyota Motor Corp • Xylem Inc • Spectris Plc • Tpg Telecom Limited • Yaskawa Electric Corp • Spirax-Sarco Engineering Plc • Tpi Composites Inc • Zalando Se • Splunk Inc • Trane Technologies Plc • Zebra Technologies Corp • Sprouts Farmers Market Inc • Trimble Inc • Zendesk Inc • Ss&C Technologies Holdings Inc • Twilio Inc • Zscaler Inc • State Street Corp • Ubisoft Entertainment Sa • Zuora Inc Class A • Steadfast Group Ltd • Ucb Sa • Zurich Insurance Group Ag • Steris PLC • Umicore SA Ethical Investment Fixed Income Portfolio

Managers We Invest In

We currently invest in the following funds:

Affirmative Global Bond Fund

Altius Sustainable Bond Fund

PIMCO ESG Global Bond Fund

Australian Ethical Fixed Interest Fund

BetaShares Sustainability Leaders Diversified Bond ETF

Bonds We Invest In

Below is the full list of investments held in the Ethical Investment Fixed Income Portfolio:

• Abbvie, Inc. • Ald Sa • Abn Amro Bank N.V. 0.5% • Alexandria Real Estate Equities, Inc. • Accunia European Clo Dac • Alliander N.V. 0.38% • Ace Securities Corp. Home Equity Loan Trust • Alme Loan Funding Dac • Acs Servicios Comunicaciones Y Energia 1.88% • American Home Mortgage Assets Trust • Action Logement Services • American Home Mortgage Investment Trust • Action Logement Services Sas 0.5% • Amgen, Inc. • Adagio Clo Dac • Anglian Water Services Financing Plc • Adif - Alta Velocidad • Apple Inc • Aegon Bank Nv • Aquafin N.V. 0.88% • Aercap Ireland Capital Dac • Aqueduct European Clo Dac • African Development Bank • Arbour Clo Dac • Agence Francaise De Developpement • Ardagh Metal Packaging Finance Usa Llc • Agence Francaise Develop • Ares European Clo Dac • Aib Group Plc • Argent Securities Trust • Airservices Australia 2.75% 15-May-2023 • Asian Development Bank • Albacore Euro Clo Dac • At&T, Inc. • Albion Plc • Atlas Funding Plc • Atlas Senior Loan Fund Ltd. • Bear Stearns Asset-Backed Securities Trust • Ausgrid Finance Pty Ltd • Bear Stearns Mortgage Funding Trust • Ausgrid Finance Pty Ltd. • Belgium (Kingdom Of) 1.25% • Aust Capital Territory • Belgium Kingdom • Australia And New Zealand Banking Group • Bendigo And Adelaide Bank Limited • Australia Government International Bond • Berlin Hyp Ag • Australian Capital Territory • Bluehub Loan Fund, Inc. • Australian Catholic University • Bluemountain Fuji Eur Clo Dac • Australian Postal Corp. • Bng Bank N.V. • Autonomous Community Of Andalusia • Bnp Paribas • Autonomous Community Of Catalonia • Boc Aviation Ltd. • Autonomous Community Of Madrid • Boise Cascade Co. • Avangrid, Inc. • Boston Properties Lp • Aviation Capital Group Llc • Bpce Sa Frn 20-Apr-2026 • Avon Finance No. 2 Plc • Bpifrance Financement S.A. 0.12% • Azure Power Solar Energy Pvt Ltd. • Brass Plc • Babson Euro Clo Bv • Brisbane Airport Corp • Bain Capital Euro Dac • British Telecommunications Plc • Banco Bilbao Vizcaya Arg • British Transco International Finance Bv • Banco Bilbao Vizcaya Argentaria S.A. • Broadcom, Inc. • Banco De Sabadell S.A. • Brookfield Finance, Inc. • Banco Santander S.A. • Bumper Uk Finance Plc • Banco Santander Sa • Bwp Management Ltd. 2.2% 24-Mar-2028 • Banco Santander, S.A. 0.3% • Ca Immobilien Anlagen Ag • Bank Australia Ltd. Frn 30-Aug-2021 • Cairn Clo Bv • Bank Of America Corp. • Caixabank S.A. • Bank Of Montreal Frn 17-Apr-2023 • Caja Rural De Navarra 0.88% • Bank Of Nova Scotia (Australia) Frn 07-Sep-2021 • Campbell Soup Co. • Bank Of Queensland Limited • Canada Square Funding Plc • Bank Of Scotland Plc • Canadian Government Real Return Bond • Bankinter Sa • Canadian Imperial Bank Of Commerce • Banque Federative Du Credit Mutuel 0.1% • Canterbury Finance Plc • Barclays Bank Plc • Carlyle Euro Clo Dac • Bayview Financial Asset Trust • Carlyle Global Market Strategies Euro Clo Dac • Bazalgette Finance Plc 2.38% • Cassa Depositi E Prestiti S.P.A. 1.52% • Castellum Ab • Council Of Europe Development Bank 2.62% • Catamaran Clo Ltd. • Countrywide Alternative Loan Trust • Ceetrus S.A. • Countrywide Asset-Backed Certificates Trust • Central Nippon Expressway Co. Ltd. • Covivio • Chanel Ceres Plc • Cpi Property Group S.A. • Charles Schwab Corp. • Credit Agricole Home Loa • Charter Communications Operating Llc • Credit Mutuel Arkea 0.88% • Charter Hall Exchange Finance Pty Ltd. • Credit Suisse Ag • Chase Mortgage Finance Trust • Credit Union Australia Ltd. Frn 21-Feb-2023 • Chevy Chase Funding Llc Mortgage-Backed • Ctp Nv Certificates • De Volksbank Nv • Chicago Transit Authority, Illinois Revenue • Dell International Llc Bonds, (Babs), Series 2010 • Deutsche Alt-A Securities, Inc. Mortgage Loan • China Construction Bank Corporation, Hong Trust Kong Branch 1.25% • Deutsche Bank Ag • China Development Bank • Deutsche Kreditbank Ag 0.62% • China Government Bond • Deutsche Pfandbriefbank Ag • Cit Mortgage Loan Trust • Development Bank Of Japan, Inc. • Citibank, National Association (4759) Frn 20- • Dexia Credit Local S.A. May-2022 • Dexus Finance Pty Ltd • Citigroup Commercial Mortgage Trust • Dexus Wholesale Property Ltd. 4.25% 16-Jun- • Citigroup Inc 2022 • Clearway Energy Operating Llc • Digital Dutch Finco Bv • Cnh Industrial Capital Llc • Digital Euro Finco Llc 2.5% • Commercial Mortgage Trust • Digital Intrepid Holding • Commerzbank Ag • Dnb Boligkreditt A/S • Of Australia 3.25% 31- • Dryden Euro Clo Bv Mar-2022 • Dryden Senior Loan Fund • Community Preservation Corp. • Dte Electric Co. • Conagra Brands, Inc. • Durham Mortgages B Plc • Continental Wind Llc • Dutch Property Finance Bv • Cooperatieve Rabobank U.A. 1% • Dwr Cymru (Financing) Uk Plc 1.38% • Cooperatieve Rabobank Ua • Eastern Energy Gas Holdings Llc • Corp Andina De Fomento • Edp Finance B.V. 1.71% • Corporacion Andina De Fomento 1.62% • Emf-Uk Plc • Emirate Of Abu Dhabi Government • French Republic Government Bond Oat 1.75 International Bond 25/06/2039 • Empresa De Transporte De Pasajeros Metro S.A. • Friary No. 6 Plc 4.75% • Frontier Finance Plc • Encore Credit Receivables Trust • Gallatin Clo Ltd. • Enel Finance International Nv • Ginnie Mae • Enexis Holding Nv 0.62% • Goldentree Loan Management Eur Clo Dac • Enw Finance Plc 1.42% • Goldman Sachs Group, Inc. • Erac Usa Finance Llc • Gothenburg (City Of) 1% • Erg Spa 0.5% • Government Of Australia • Erp Operating Lp • Greenko Dutch Bv • Erste Group Bank Ag • Greenko Solar Mauritius Ltd. • Etsa Utilities Finance Pty Ltd. • Griffith Park Clo Dac • Eurofima • Grosvenor Place Clo Bv • Eurogrid Gmbh • Gsamp Trust • Eurohome Uk Mortgages Plc • Gsr Mortgage Loan Trust • Euromastr Plc • Harben Finance Plc • European Bk Recon & Dev • Harvest Clo Dac • European Investment Bank • Hawksmoor Mortgages Plc • European Union • Hca, Inc. • Eurosail Plc • Hera Spa 0.88% • Export-Import Bank Of Korea 0.83% • Heritage Bank Ltd. Frn 12-Aug-2022 • Fannie Mae • Hilton Domestic Operating Co., Inc. • Fcc Servicios Medio Ambiente Holding Sa 0.82% • Home Equity Asset Trust • Federal Home Loan Bank • Home Equity Mortgage Loan Asset-Backed Trust • Ferrovie Dello Stato • Hong Kong Government International Bond • Fieldstone Mortgage Investment Trust • Host Hotels & Resorts Lp • Finsbury Square Plc • Hsbc Bank Canada • First Abu Dhabi Bank P.J.S.C 3% • Hsbc Holdings Plc • First Horizon Alternative Mortgage Securities • Icade Trust • Icade Sante Sas 1.38% • Ford Motor Credit Co. Llc • Icg U.S. Clo Ltd. • France Government International Bond • Icpf Finance Pty Ltd. • Freddie Mac • Idb Trust Services Ltd • Fremont Home Loan Trust • Ignitis Gamyba Ab 1.88% • Ile De France Mobilites 0.4% • Jubilee Clo Bv • Impac Secured Assets Trust • Jyske Realkredit A/S • India Green Power Holdings • Kb Kookmin Bank 0.05% • Industrial And Commercial Bank Of China • Kbc Group Nv Limited, Luxembourg Branch 2.88% • Kbc Groupe Sa 0.38% • Industrial Bank Of Korea 1.04% • Kfw • Indymac Mortgage Loan Trust • Kilroy Realty Lp • Infineon Technologies Ag • Kiwibank Limited Frn 23-Sep-2025 • Ing Groep Nv • Kommunalbanken As • Institut Credito Oficial • Kommunekredit • Inter-American Devel Bk • Kommuninvest I Sverige • Inter-American Development Bank • Kookmin Bank • Inter-American Investment Corp. 1.1% 30-Jun- • Korea Housing Finance Corp. 2026 • Korea Water Resources Corporation 3.88% • International Bank For Reconstruction & • Kreditanstalt Fur Wiederaufbau Development • Kuntarahoitus Oyj • International Development Association • La Banque Postale • International Finance Corporation 1.25% • La Poste Sa • International Finance Facility For Immunisation • Lanark Master Issuer Plc • International Flavors & Fragrances, Inc. • Landesbank Baden-Wurttemberg 0.38% • Intesa Sanpaolo Spa • Landwirtsch. Rentenbank • Intl Bk Recon & Develop • Laurelin Dac • Intl Finance Corp • Lb Baden-Wuerttemberg • Irish Tsy 1.35% 2031 • Leaseplan Corp. Nv • Isdb Trust Services No. 2 Sarl 1.26% • Lehman Xs Trust • Israel Government International Bond • Finance Ltd. • Israel Treasury Bills • Liberty Utilities Finance Gp • Italy Buoni Poliennali Del Tesoro • Lithuania Government International Bond • Italy Government International Bond • Lloyds Bank Plc • Japan Finance Organization For Municipalities • Long Beach Mortgage Loan Trust • Japan Government International Bond • Low Income Investment Fund • Japan Treasury Bills • Ludgate Funding Plc • Jpmorgan Alternative Loan Trust • Mackay Shields Euro Clo Dac • Jpmorgan Chase & Co. • Macquarie Bank Limited Frn 21-Jun-2022 • Jpmorgan Mortgage Trust • Limited Frn 15-Dec-2022 • Macquarie University Ontwikkelingslanden N.V. 2.75% • Madison Park Euro Funding Dac • Nederlandse Waterschapsbank N.V. • Madrid (Comunidad De) 1.57% • Netherlands Government • Maf Sukuk Ltd 4.64% • New Century Home Equity Loan Trust • Malaysia Government International Bond • New Residential Mortgage Loan Trust • Marathon Clo Ltd. • New South Wales Treasury Corp. • Marks & Spencer Plc • New Zealand Government International Bond • Marsh & Mclennan Cos., Inc. • Newcastle Permanent Building Society Ltd. Frn • Medtronic Global Holdings S.C.A. 04-Mar-2026 • Members Equity Bank Ltd. Frn 18-Jul-2022 • Nextera Energy Capital Holdings, Inc. • Mercedes-Benz Australia/Pacific Pty Ltd. 0.75% • Nissan Motor Co. Ltd. 22-Jan-2024 • Nord/Lb Luxembourg S.A. Covered Bond Bank • Merrill Lynch Alternative Note Asset Trust 0.05% • Merrill Lynch Mortgage Investors Trust • Nordea Bank Abp • Mexico Government International Bond • Nordea Kredit Realkreditaktieselskab • Ministeries Van De Vlaamse Gemeenschap • Nordic Investment Bank 2.25% • Miravet Sarl • Nordrhein-Westfalen (Land) • Mirvac Group Finance Ltd. • North Westerly Clo Bv • Mitsubishi Ufj Fin Grp • Northern Territory Treasury Corp. • Mizuho Financial Group, Inc. • Novastar Mortgage Funding Trust • Morgan Stanley • Nrw.Bank • Morhomes Plc 3.4% • Nsw Electricity Networks Finance Pty Ltd. • Mortimer Btl Plc • Ntt Finance Corp. • Motability Operations Group Plc 1.5% • Nykredit Realkredit A/S • Mountain View Clo Ltd. • Ocp Clo Ltd. • Mtr Corp Ci Ltd • Ontario (Province Of) 1.85% • Mulcair Securities Dac • Ontario Teachers' Finance Trust • Limited • Op Corporate Bank Plc 0.38% • National Housing Finance & Investment Corp. • Option One Mortgage Loan Trust • Nationwide Building Society • Optus Finance Pty Ltd • Natwest Group Plc • Orsted A/S 2.5% • Natwest Markets Plc 0.75% • Oslo Kommune 2.35% • Nbn Co. Ltd. • Oversea-Chinese Banking Corp. Ltd. / • Neder Waterschapsbank Branch/ • Nederlandse Financierings-Maatschappij Voor • Ozlm Ltd. • Palmer Square European Loan Funding Dac • Republic Of Poland • Palmer Square Loan Funding Ltd. • Residential Accredit Loans, Inc. Trust • Panasonic Corp. • Residential Mortgage Securities Plc • Paragon Mortgages Plc • Resimac Bastille Trust • Pcl Funding Plc • Resimac Premier • Pearson Funding Plc • Ripon Mortgages Plc • Penta Clo Bv • Rmac Plc • Pepper Residential Securities Trust • Rmac Securities Plc • Pepper Sparkz Trust No.3 • Romania Government International Bond • Peru Government International Bond • Royal Bank Of Canada • Perusahaan Penerbit Sbsn • Royal Schiphol Group Nv • Places For People Treasury Plc 4.0% 22-Aug- • Russia Government International Bond 2022 • Ryder System, Inc. • Pnc Financial Services • Samhallsbyggnadsbolaget I Norden Ab • Principality Of Andorra 1.25% • Santander Uk Plc • Prologis Euro Finance • Sbab Bank Ab (Publ) 0.12% • Prologis International Funding Ii S.A. 1.75% • Schaeffler Ag • Province Of Quebec • Scottish Hydro Electric Transmission Plc • Qatar Government International Bond • Seb S.A. • Qic Finance Shopping Centre Fund Pty Ltd. • Segovia European Clo Dac • Quebec (Province Of) 1.85% • Selp Finance Sarl • Queensland Treasury Corp • Sequoia Mortgage Trust • Raiffeisen Bank Intl • Shinhan Bank Co. Ltd. • Real Estate Asset Liquidity Trust • Shriram Transport Finance Co. Ltd. • Realkredit Danmark A/S • Slovenia Government International Bond • Reckitt Benckiser Treasury Services Plc • Sncf Reseau • Red Electrica Fin Sa Uni • Societe Du Grand Paris Epic • Rede D'or Finance Sarl • Societe Generale • Regie Autonome Des Trans • Societe Nationale Sncf • Regie Autonome Des Transports Parisiens • Sorrento Park Clo Dac • Region Of Ile De France • Soundview Home Loan Trust • Renaissance Home Equity Loan Trust • South Africa Government International Bond • Renault S.A. • South Australian Government Financing • Renew Power Pvt Ltd. Authority • Republic Of Chile • Southern Power Co. • Southwest Airlines Co. • Tower Bridge Funding Plc • Spain Government International Bond • Toyota Motor Credit Corp • Sparebank 1 Boligkreditt • Transport For London 2.12% • Sparebank 1 Smn • Transpower New Zealand Ltd. • Sse Plc 1.38% • Treasury Corp Victoria • Standard Chartered Plc • Treasury Corporation Of Victoria • Steding Holding Nv 0.5% • Trinidad Mortgage Securities Plc • Stockland Trust Management Ltd. • Trinity Square Plc • Stora Enso Oyj • Tritax Big Box Reit Plc 1.5% • Stratton Mortgage Funding Plc • Tritax Eurobox Plc 0.95% • Structured Asset Securities Corp. • Twin Bridges Plc • Sumitomo Mitsui Banking Corp. • U.S. Treasury Bills • Suncorp-Metway Ltd • U.S. Treasury Bonds • Svenska Handelsbanken Ab • U.S. Treasury Inflation Protected Securities • Swisscom Finance • U.S. Treasury Notes • Tasmanian Public Finance Corp. • Ubs Ag • Tbw Mortgage-Backed Trust • Unicredit Spa • Teachers Mutual Bank Ltd. Frn 02-Jul-2021 • Uniform Mortgage-Backed Security • Telefonica Emisiones Sau • United Energy Distribution Pty Ltd. • Telos Clo Ltd. • United Kingdom Gilt • Telstra Corporation Limited • University Of Technology Sydney • Tennet Holding B.V. 1.38% • University Of Wollongong • Terna - Rete Elettrica Nazionale S.P.A. 0.75% • Uropa Securities Plc • Terna Spa • Utah State Board Of Regents • Terwin Mortgage Trust • V.F. Corporation 0.25% • Tesco Corporate Treasury Services Plc • Vanke Real Estate Hong Kong Co. Ltd. • Tesco Property Finance Plc • Vasakronan Ab 0.11% • The Basque Country 0.45% • Vendome Funding Clo Dac • The Government Of Hong Kong Special • Venture Clo Ltd. Administrative Region 1.38% • Verbund Ag • Ticp Clo Ltd. • Verizon Communications • Tokyo Metropolitan Government • Victoria Power Networks (Finance) Pty Ltd. • Toro European Clo Dac • Ville De Paris • Toronto-Dominion Bank 1.5% 17-Mar-2026 • Vmware, Inc. • Towd Point Mortgage Funding Plc • Vodafone Group Plc • Wamu Mortgage Pass-Through Certificates Trust • Washington Mutual Mortgage Pass-Through Certificates Trust • Wells Fargo Home Equity Asset-Backed Securities • Limited • Western Aust Treas Corp • Western Australian Treasury Corp. • Banking Corp • Weyerhaeuser Co. • Woolworths Group Limited • Workspace Group Plc • Yorkshire Water Finance Plc 2.75% • Zoetis, Inc.

Ethical Investment Mid-Cap Portfolio

Companies We Invest In

Below is the full list of companies held in the Ethical Investment Mid-Cap Portfolio:

• 4dmedical Limited Ordinary • Macquarie Telecom Gp Ordinary • Auswide Bank Ltd Ordinary • Mercury Nz Limited Ord • Australian Ethical Ordinary • Meridian Energy Ordinary • Arena Reit. Ordinary Units • Mesoblast Limited Ordinary • Bendigo And Adelaide Ordinary • Medical Developments Ordinary • Charter Hall Group Stapled Securities • Novonix Limited Ordinary • Centuria Capital Stapled • Nextdc Limited Ordinary • Chorus Limited Ordinary • Orocobre Limited Ordinary • Cochlear Limited Ordinary • Pyrolyx Ag Cdi 15:1 Fxmp Fse • Charter Hall Soc In Units • Polynovo Limited Ordinary • Csl Limited Ordinary • Recce Pharmaceutical Ordinary • Calix Limited Ordinary • Stockland Units/Ord Stapled • Dubber Corp Ltd Ordinary • Sonic Healthcare Ordinary • G8 Education Limited Ordinary • Sigma Health Ltd Ordinary • Genex Power Ltd Ordinary • Spark Infrastructure Stapled Securities • Hub24 Ltd Ordinary • Superloop Limited Ordinary • Integral Diagnostics Ordinary • Technology One Ordinary • Ingenia Group Stapled Securities • Tpg Telecom Limited • Invocare Limited Ordinary • Volpara Health Tech Ordinary • Janison Edu Group Ordinary • Wide Open Agricultur Ordinary • Link Admin Hldg Ordinary • Xero Ltd Ordinary

Ethical Investment Large-Cap Portfolio

Companies We Invest In

Below is the full list of companies held in the Ethical Investment Large-Cap Portfolio:

• Australian Pharm. Ordinary • Polynovo Limited Ordinary • Asx Limited Ordinary • Rea Group Ordinary • Bendigo And Adelaide Ordinary • Ramsay Health Care Ordinary • Bingo Industries Ltd Ordinary • Sca Property Group Stapled Securities • Blackmores Limited Ordinary • Seek Limited Ordinary • Bank Of Queensland. Ordinary • Sims Limited Ordinary • Bwp Trust Ordinary Units • Stockland Units/Ord Stapled • Brambles Limited Ordinary • Sonic Healthcare Ordinary • Costa Group Holdings Ordinary • Spark Infrastructure Stapled Securities • Challenger Limited Ordinary • Spark New Zealand Ordinary • Charter Hall Group Stapled Securities • Telstra Corporation. Ordinary • Chorus Limited Ordinary • Technology One Ordinary • Cochlear Limited Ordinary • United Malt Group Limited • Computershare Ltd Ordinary • Xero Ltd Ordinary • Csl Limited Ordinary • Dexus Stapled Units • Fisher & Paykel H. Ordinary • Graincorp Limited A Class Ordinary • Gpt Group Stapled Sec. • Hub24 Ltd Ordinary • Insurance Australia Ordinary • Invocare Limited Ordinary • Janus Henderson Cdi 1:1 • Link Admin Hldg Ordinary • Mirvac Group Stapled Securities • Medibank Private Ltd Ordinary • Nib Holdings Limited Ordinary • Netwealth Group Ordinary • Nextdc Limited Ordinary • Orora Limited Ordinary