Medical Assurance Society KiwiSaver Plan Conservative Fund as at 31 March 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 19.92% Cash Total 19.92% Bonds Vector 4.26% IAG 4.11% ASB Bank Ltd 2.86% Bank of China 1.96% Mighty River Power Limited 1.86% 1.37% Quayside Holdings 1.34% Christchurch Int Airport 1.03% Infratil 0.97% ANZ National Bank Ltd 0.16% New Zealand Bonds Total 19.91% International Bonds Hunter Global Bond Fund 40.32% International Bonds Total 40.32% New Zealand Equities A2 Milk Company Ltd 0.55% Infratil Ltd 0.44% Limited 0.44% Fisher & Paykel Healthcare Ltd 0.39% Auckland International Airport Ltd 0.27% Ltd 0.26% Ltd 0.26% Ltd 0.22% Ltd 0.20% Ltd 0.18% Mercury NZ Limited 0.15% Ltd 0.15% Freightways Ltd 0.12% Stride Property Ltd and Stride Invest Mgmt Ltd 0.10% Investore Property Limited 0.09% Chorus Ltd 0.08% Ltd 0.08% City Entertainment Group 0.04% Evolve Education Group Limited 0.01% Holdings Ltd 0.01% New Zealand Equities Total 4.04% Australian Equities Afterpay Touch Group Limited 0.27% CSL Limited 0.16% Healthscope Limited 0.14% Corp Ltd 0.12% Rio Tinto Ltd 0.12% Suncorp Group Ltd 0.11% Aust and NZ Banking Group 0.10% Macquarie Group Ltd 0.09% Sydney Airports 0.09% Propertylink 0.08% Resmed Inc 0.07% Bingo Industries Limited 0.06% Transurban Group 0.04% National Australia Bank Ltd 0.04% Banking Corp 0.04% Coles Group Ltd 0.03% Aristocrat Leisure Ltd 0.03% Amcor Ltd 0.02% Wesfarmers Limited 0.02% Seek Ltd 0.02% Boral Ltd 0.01% Crown Resorts Ltd 0.01% Brambles Ltd 0.01% Australian Equities Total 1.68% International Equities MAS SRI Global Mandate* 10.63% Technology Select Sect Spdr 1.02% SPDR S&P Bank ETF 0.84% Health Care Select Sector 0.62% iShares U.S. Medical Devices 0.36% iShares EUR 600 Telecoms DE 0.35% Amazon.Com Inc 0.11% Alphabet Inc Class A 0.10% Facebook Inc-A 0.07% Netflix Inc 0.04% International Equities Total 14.13% Grand Total 100.00%

Holdings are subject to change at any time. * For a full list of security holdings, please click here. Medical Assurance Society KiwiSaver Plan Moderate Fund as at 31 March 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 15.04% Cash Total 15.04% New Zealand Bonds Vector 3.18% IAG 2.47% Infratil 2.17% ANZ National Bank Ltd 1.96% Bank of China 1.65% Chorus Limited 1.53% ASB Bank Ltd 1.21% Christchurch Int Airport 0.90% Mighty River Power Limited 0.81% Westpac Bank 0.25% New Zealand Bonds Total 16.12% International Bonds Hunter Global Bond Fund 34.35% International Bonds Total 34.35% New Zealand Equities A2 Milk Company Ltd 1.00% Infratil Ltd 0.80% Meridian Energy Limited 0.79% Fisher & Paykel Healthcare Ltd 0.71% Auckland International Airport Ltd 0.49% Fletcher Building Ltd 0.48% Mainfreight Ltd 0.47% Spark New Zealand Ltd 0.40% Metlifecare Ltd 0.36% Z Energy Ltd 0.33% Mercury NZ Limited 0.27% Port of Tauranga Ltd 0.27% Freightways Ltd 0.21% Chorus Ltd 0.15% Air New Zealand Ltd 0.15% Stride Property Ltd and Stride Invest Mgmt Ltd 0.13% Investore Property Limited 0.11% Sky City Entertainment Group 0.08% Evolve Education Group Limited 0.02% Kathmandu Holdings Ltd 0.02% New Zealand Equities Total 7.23% Australian Equities Afterpay Touch Group Limited 0.52% CSL Limited 0.28% Healthscope Limited 0.27% Suncorp Group Ltd 0.22% Rio Tinto Ltd 0.22% Telstra Corp Ltd 0.20% Aust and NZ Banking Group 0.19% Macquarie Group Ltd 0.17% Sydney Airports 0.17% Propertylink 0.16% Resmed Inc 0.13% Bingo Industries Limited 0.11% Transurban Group 0.08% National Australia Bank Ltd 0.07% Westpac Banking Corp 0.07% Coles Group Ltd 0.06% Amcor Ltd 0.05% Aristocrat Leisure Ltd 0.05% Wesfarmers Limited 0.04% Boral Ltd 0.03% Brambles Ltd 0.02% Seek Ltd 0.02% Crown Resorts Ltd 0.02% Australian Equities Total 3.16% International Equities MAS SRI Global Mandate* 18.12% Technology Select Sect Spdr 1.74% SPDR S&P Bank ETF 1.44% Health Care Select Sector 1.05% iShares U.S. Medical Devices 0.61% iShares EUR 600 Telecoms DE 0.59% Amazon.Com Inc 0.18% Alphabet Inc Class A 0.18% Facebook Inc-A 0.12% Netflix Inc 0.06% International Equities Total 24.09% Grand Total 100.00%

The above holdings are subject to change at any time. * For a full list of security holdings, please click here. Medical Assurance Society KiwiSaver Plan Balanced Fund as at 31 March 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 5.42% Cash Total 5.42% New Zealand Bonds Vector 5.64% Chorus Limited 2.94% ANZ National Bank Ltd 1.77% Bank of China 1.11% Westpac Bank 1.03% Infratil 0.75% IAG 0.73% ASB Bank Ltd 0.73% Z Energy 0.46% Quayside Holdings 0.45% Mighty River Power Limited 0.33% New Zealand Bonds Total 15.93% International Bonds Hunter Global Bond Fund 24.98% International Bonds Total 24.98% New Zealand Equities A2 Milk Company Ltd 1.52% Infratil Ltd 1.20% Meridian Energy Limited 1.20% Fisher & Paykel Healthcare Ltd 1.06% Auckland International Airport Ltd 0.74% Fletcher Building Ltd 0.72% Mainfreight Ltd 0.71% Spark New Zealand Ltd 0.62% Metlifecare Ltd 0.53% Z Energy Ltd 0.49% Mercury NZ Limited 0.41% Port of Tauranga Ltd 0.40% Freightways Ltd 0.31% Chorus Ltd 0.24% Air New Zealand Ltd 0.21% Stride Property Ltd and Stride Invest Mgmt Ltd 0.18% Investore Property Limited 0.13% Sky City Entertainment Group 0.11% Evolve Education Group Limited 0.03% Kathmandu Holdings Ltd 0.03% New Zealand Equities Total 10.85% Australian Equities Afterpay Touch Group Limited 0.81% CSL Limited 0.44% Healthscope Limited 0.42% Suncorp Group Ltd 0.35% Rio Tinto Ltd 0.33% Telstra Corp Ltd 0.32% Aust and NZ Banking Group 0.30% Macquarie Group Ltd 0.26% Sydney Airports 0.26% Propertylink 0.25% Resmed Inc 0.20% Bingo Industries Limited 0.17% Transurban Group 0.12% National Australia Bank Ltd 0.11% Westpac Banking Corp 0.11% Coles Group Ltd 0.09% Amcor Ltd 0.08% Aristocrat Leisure Ltd 0.08% Wesfarmers Limited 0.06% Boral Ltd 0.04% Seek Ltd 0.04% Brambles Ltd 0.04% Crown Resorts Ltd 0.03% Australian Equities Total 4.89% International Equities MAS SRI Global Mandate* 28.53% Technology Select Sect Spdr 2.74% SPDR S&P Bank ETF 2.26% Health Care Select Sector 1.66% iShares U.S. Medical Devices 0.96% iShares EUR 600 Telecoms DE 0.93% Amazon.Com Inc 0.29% Alphabet Inc Class A 0.28% Facebook Inc-A 0.20% Netflix Inc 0.09% International Equities Total 37.94% Grand Total 100.00%

The above holdings are subject to change at any time. * For a full list of security holdings, please click here. Medical Assurance Society KiwiSaver Plan Growth Fund as at 31 March 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 2.88% Cash Total 2.88% New Zealand Bonds Vector 5.80% ANZ National Bank Ltd 1.02% Bank of China 0.57% IAG 0.50% Bank of New Zealand 0.48% Chorus Limited 0.36% Christchurch Int Airport 0.24% Infratil 0.22% Westpac Bank 0.18% Quayside Holdings 0.18% Z Energy 0.18% ASB Bank Ltd 0.17% New Zealand Bonds Total 9.89% International Bonds Hunter Global Bond Fund 13.53% International Bonds Total 13.53% New Zealand Equities A2 Milk Company Ltd 2.06% Infratil Ltd 1.64% Meridian Energy Limited 1.64% Fisher & Paykel Healthcare Ltd 1.45% Auckland International Airport Ltd 1.00% Fletcher Building Ltd 0.99% Mainfreight Ltd 0.97% Spark New Zealand Ltd 0.84% Metlifecare Ltd 0.73% Z Energy Ltd 0.67% Mercury NZ Limited 0.56% Port of Tauranga Ltd 0.55% Freightways Ltd 0.43% Chorus Ltd 0.32% Air New Zealand Ltd 0.31% Stride Property Ltd and Stride Invest Mgmt Ltd 0.24% Investore Property Limited 0.18% Sky City Entertainment Group 0.16% Evolve Education Group Limited 0.05% Kathmandu Holdings Ltd 0.04% New Zealand Equities Total 14.81% Australian Equities Afterpay Touch Group Limited 1.07% Healthscope Limited 0.58% CSL Limited 0.57% Rio Tinto Ltd 0.45% Suncorp Group Ltd 0.43% Sydney Airports 0.39% Aust and NZ Banking Group 0.39% Telstra Corp Ltd 0.39% Macquarie Group Ltd 0.38% Propertylink 0.30% Resmed Inc 0.27% Bingo Industries Limited 0.23% National Australia Bank Ltd 0.15% Transurban Group 0.14% Westpac Banking Corp 0.13% Coles Group Ltd 0.12% Amcor Ltd 0.11% Aristocrat Leisure Ltd 0.10% Wesfarmers Limited 0.08% Boral Ltd 0.06% Brambles Ltd 0.05% Seek Ltd 0.05% Crown Resorts Ltd 0.04% Australian Equities Total 6.48% International Equities MAS SRI Global Mandate* 38.82% Technology Select Sect Spdr 3.73% SPDR S&P Bank ETF 3.08% Health Care Select Sector 2.25% iShares U.S. Medical Devices 1.30% iShares EUR 600 Telecoms DE 1.26% Amazon.Com Inc 0.39% Alphabet Inc Class A 0.38% Facebook Inc-A 0.27% Netflix Inc 0.13% International Equities Total 51.61% Alternatives Maui Capital Aqua Fund 0.68% Pencarrow IV Investment 0.12% Alternatives Total 0.80% Grand Total 100.00%

The above holdings are subject to change at any time. * For a full list of security holdings, please click here. Medical Assurance Society KiwiSaver Plan Aggressive Fund as at 31 March 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 4.18% Cash Total 4.18% New Zealand Bonds Chorus Limited 3.33% Vector 1.97% ANZ National Bank Ltd 0.60% Bank of China 0.49% IAG 0.48% Infratil 0.12% New Zealand Bonds Total 6.98% International Bonds Hunter Global Bond Fund 4.49% International Bonds Total 4.49% New Zealand Equities A2 Milk Company Ltd 2.32% Infratil Ltd 1.85% Meridian Energy Limited 1.85% Fisher & Paykel Healthcare Ltd 1.63% Auckland International Airport Ltd 1.13% Fletcher Building Ltd 1.11% Mainfreight Ltd 1.09% Spark New Zealand Ltd 0.94% Metlifecare Ltd 0.82% Z Energy Ltd 0.76% Mercury NZ Limited 0.63% Port of Tauranga Ltd 0.62% Freightways Ltd 0.49% Chorus Ltd 0.36% Air New Zealand Ltd 0.35% Stride Property Ltd and Stride Invest Mgmt Ltd 0.25% Investore Property Limited 0.19% Sky City Entertainment Group 0.18% Evolve Education Group Limited 0.05% Kathmandu Holdings Ltd 0.05% New Zealand Equities Total 16.67% Australian Equities Afterpay Touch Group Limited 1.31% Healthscope Limited 0.72% CSL Limited 0.67% Rio Tinto Ltd 0.52% Sydney Airports 0.50% Suncorp Group Ltd 0.50% Telstra Corp Ltd 0.47% Aust and NZ Banking Group 0.46% Macquarie Group Ltd 0.44% Propertylink 0.36% Resmed Inc 0.33% Bingo Industries Limited 0.27% National Australia Bank Ltd 0.18% Transurban Group 0.17% Coles Group Ltd 0.15% Westpac Banking Corp 0.15% Amcor Ltd 0.14% Aristocrat Leisure Ltd 0.12% Wesfarmers Limited 0.10% Boral Ltd 0.07% Brambles Ltd 0.06% Seek Ltd 0.06% Crown Resorts Ltd 0.05% Australian Equities Total 7.82% International Equities MAS SRI Global Mandate* 44.11% Technology Select Sect Spdr 4.24% SPDR S&P Bank ETF 3.50% Health Care Select Sector 2.56% iShares U.S. Medical Devices 1.48% iShares EUR 600 Telecoms DE 1.43% Amazon.Com Inc 0.45% Alphabet Inc Class A 0.43% Facebook Inc-A 0.30% Netflix Inc 0.15% International Equities Total 58.50% Alternatives The Maui Capital Aqua Fund 0.74% The Maui Capital Indigo Fund 0.52% Pencarrow IV Investment 0.09% Alternatives Total 1.35% Grand Total 100.00%

The above holdings are subject to change at any time. * For a full list of security holdings, please click here. Medical Assurance Society KiwiSaver Plan Global Equities Fund as at 31 March 2019

Asset Class Asset Total Cash JBWere Premium Call Accounts - NZ and offshore 1.56% Cash Total 1.56% New Zealand Equities A2 Milk Company Ltd 2.68% Meridian Energy Limited 2.16% Infratil Ltd 2.16% Fisher & Paykel Healthcare Ltd 1.91% Auckland International Airport Ltd 1.30% Fletcher Building Ltd 1.29% Mainfreight Ltd 1.28% Spark New Zealand Ltd 1.08% Metlifecare Ltd 0.97% Z Energy Ltd 0.89% Mercury NZ Limited 0.73% Port of Tauranga Ltd 0.73% Freightways Ltd 0.57% Air New Zealand Ltd 0.43% Chorus Ltd 0.41% Sky City Entertainment Group 0.22% Evolve Education Group Limited 0.06% Kathmandu Holdings Ltd 0.06% New Zealand Equities Total 18.94% Australian Equities Afterpay Touch Group Limited 1.38% Healthscope Limited 0.77% CSL Limited 0.73% Rio Tinto Ltd 0.58% Suncorp Group Ltd 0.53% Sydney Airports 0.52% Aust and NZ Banking Group 0.50% Macquarie Group Ltd 0.50% Telstra Corp Ltd 0.47% Propertylink 0.38% Resmed Inc 0.36% Bingo Industries Limited 0.29% National Australia Bank Ltd 0.19% Transurban Group 0.18% Westpac Banking Corp 0.16% Coles Group Ltd 0.16% Amcor Ltd 0.14% Aristocrat Leisure Ltd 0.13% Wesfarmers Limited 0.10% Boral Ltd 0.07% Brambles Ltd 0.07% Seek Ltd 0.06% Crown Resorts Ltd 0.05% Australian Equities Total 8.31% International Equities MAS SRI Global Mandate* 52.38% Technology Select Sect Spdr 5.03% SPDR S&P Bank ETF 4.16% Health Care Select Sector 3.04% iShares U.S. Medical Devices 1.76% iShares EUR 600 Telecoms DE 1.70% Amazon.Com Inc 0.53% Alphabet Inc Class A 0.51% Facebook Inc-A 0.36% Netflix Inc 0.17% International Equities Total 69.64% Alternatives The Maui Capital Aqua Fund 0.86% The Maui Capital Indigo Fund 0.56% Pencarrow IV Investment 0.12% Alternatives Total 1.54% Grand Total 100.00%

The above holdings are subject to change at any time. * For a full list of security holdings, please click here.