SUN LIFE EXCEL FUND Summary of Investment Portfolio* as at September 30, 2020 Top 25 Investments‡ Sector Allocation‡ Percentage of Net Asset Percentage of Net Asset Holding Name Value of the Fund (%) Value of the Fund % 1 Limited 8.6 Financials 23.9 2 Limited 8.5 Information Technology 12.3 3 iShares MSCI India ETF 8.1 Energy 9.3 4 ICICI Bank Limited 7.3 Exchange-Traded Funds - International 5 HDFC Bank Limited 3.9 Equities 8.1 6 HCL Technologies Limited 3.7 Consumer Staples 7.6 7 Limited 3.7 Consumer Discretionary 7.1 8 Housing Development Finance Corporation Limited 3.5 Health Care 7.0 9 Limited 3.1 Other Assets less Liabilities 5.7 10 Limited 2.3 Materials 4.7 11 Limited 2.0 Communication Services 4.6 12 India Limited 2.0 Industrials 4.5 13 Mahindra & Mahindra Limited 2.0 Cash and Cash Equivalents 3.1 14 Limited 1.9 Real Estate 2.1 15 Dalmia Bharat Limited 1.6 100.0 16 Strides Pharma Science Limited 1.5 17 India Limited 1.4 Asset Allocation‡ 18 Polycab India Limited 1.4 19 Aster DM Healthcare Limited 1.3 Percentage of Net Asset Value of the Fund % 20 Limited 1.3 21 Britannia Industries Limited 1.3 International Equities 91.2 22 Sun Pharmaceutical Industries Limited 1.3 Other Assets less Liabilities 5.7 23 Limited 1.3 Cash and Cash Equivalents 3.1 24 Clearing Corporation of India Limited 1.2 100.0 25 UltraTech Cement Limited 1.2 ‡ 75.4 Geographic Allocation Total Net Asset Value ('000's) $ 203,711 Percentage of Net Asset Value of the Fund % India 91.2 Other Assets less Liabilities 5.7 Cash and Cash Equivalents 3.1 100.0

(*) All information is as at September 30, 2020. The summary of investment portfolio may change due to ongoing portfolio transactions of the Fund. Unless otherwise noted positions are long. You may obtain quarterly updates to these holdings free of charge by calling us at 1−877−344−1434, visiting our website at www.sunlifeglobalinvestments.com or by sending an email to us at [email protected]. (‡) The Fund invests substantially all of its assets directly in the underlying India sub-fund. The summary of investment portfolio for the Fund presents the investments as a percentage of the net asset value of the underlying India sub-fund.