UK SMALLER COMPANIES FUND - Z ACC GBP THREADNEEDLE INVESTMENT FUNDS ICVC PROFESSIONAL INVESTORS (FOR MARKETING PURPOSES) - ALL DATA AS AT 31 AUGUST 2021 OEIC Luxembourg Investment Objective & Policy The Fund aims to increase the value of your investment over the long term. It looks to outperform the Numis Smaller Companies excluding Investment Companies (ex Contact Details ICs) Index over rolling 3-year periods, after the deduction of charges. The Fund is actively managed, and invests at least 90% of its assets in the shares of companies listed on the Stock Exchange; predominantly smaller companies Tel: 00352 46 40 10 7020* traded on the Alternative Investment Market (AIM) or included within the Numis Smaller Companies (ex ICs) Index, that are UK domiciled, or have significant UK business [email protected] operations. The Fund selects companies considered to have good prospects for share price growth, from any industry or economic sector, with smaller companies providing potential *Please note that calls and electronic communications exposure to niche growth areas that often cannot be accessed by large companies. may be recorded. The Fund typically invests in shares of fewer than 70 companies. The Fund may also invest in other assets such as cash and deposits, and hold other funds (including IFDS, 47, avenue J.F. Kennedy, L-1855, Luxembourg funds managed by Columbia Threadneedle companies) when deemed appropriate. The Numis Smaller Companies (ex ICs) Index is a widely used benchmark for monitoring the performance of UK smaller companies. It consists of companies that make Fund Manager: James Thorne up the smallest 10% of the UK main listed market by value (excluding investment companies). It provides a suitable target benchmark against which Fund performance will be measured and evaluated over time. Since: Mar-10 Management Co: Threadneedle Inv. Services Ltd. Fund Inception Date: 28/02/95 Target Benchmark: Numis Smaller Companies ex Investment Companies Investment Approach The fund is our UK small cap offering with a robust investment process that looks for good businesses with sustainable economic return on Comparator: IA UK Smaller Companies capital, alongside a discipline around valuation. The portfolio manager looks for both value and growth opportunities by investing in experienced Fund Currency: GBP management teams with a disciplined approach to capital allocation. The fund adheres to a clear and repeatable investment philosophy; alpha is Fund Domicile: United Kingdom derived from research-driven, bottom-up stock selection, incorporating elements of the wider company’s macro and thematic analysis. XD Date: 08-Mar, 08-Sep We believe that smaller companies are the industry leaders of tomorrow and can be a source of long-term growth, through innovation, nimbleness and by positioning themselves to take market share and exploit new growth markets. In our view, the UK smaller companies equity Pay Date: 07-May, 07-Nov market is highly inefficient and short-term profits do not reflect the fundamental value of a business. Through fundamental analysis and a long- Portfolio Size: £264,9m term investment in quality businesses, we build a well-diversified portfolio of 60-70 stocks that we believe is able to generate strong and No. of Securities: 67 consistent risk-adjusted returns over the long term. All information expressed in GBP UK SMALLER COMPANIES FUND - Z ACC GBP ISIN: GB00B8SWL553 Share Class Price: 3,0798 Historic Yield: 0,0% Ongoing Charges (OCF): 0,89% (as at 07/03/21) Performance Fee: No The ongoing charges figure (OCF) is usually based on the last year’s 5 Years (GBP) Calendar Years (GBP) expenses and may vary from year to year. It includes charges such as 220 40% the fund’s annual management charge, registration fee, custody fees and distribution cost but excludes the costs of buying or selling assets 200 30% for the fund (unless these assets are shares of another fund). For a 180 more detailed breakdown please visit 20% www.columbiathreadneedle.com/fees. In some cases, the ongoing 160 10% charges figure may be based on an estimate of future charges, either because the share/unit class is relatively new and has an insufficient 140 0% track record to be calculated exactly, or if historic figures are unlikely to accurately reflect future ongoing costs. 120 -10% Please see table of Share Classes available on page 4. 100 -20% Fund Changes 08/16 08/17 08/18 08/19 08/20 08/21 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 For detailed information on Fund Changes please see "Details of Share Class Peer Median Share Class Peer Median significant events - Key Investor Information Document - UK Regulated Funds" PDF available on https://www.columbiathreadneedle.com/en/ Annualised Performance (GBP) changes 1M 3M 6M YTD 1 YR 2 YR 3 YR 5 YR 10 YR SI Share Class (Net) 4,6 6,9 20,2 25,5 44,4 27,4 13,6 16,1 -- 15,2 Ratings/Awards Peer Median (Net) 4,6 6,7 21,9 27,2 52,7 25,3 13,1 16,0 -- 13,2 Peer Percentile 49% 49% 66% 66% 78% 38% 42% 48% -- 27% Peer Quartile 2 2 3 3 4 2 2 2 -- 2 Fund (Gross) 5,2 7,5 20,9 26,9 46,2 28,9 14,7 17,1 -- 16,1 For more information on the methodology of the Morningstar rating Index (Gross) 5,4 4,6 17,9 24,9 49,3 17,7 8,7 10,1 -- 8,9 please visit www.morningstar.com Since Inception Returns from: 27/09/13 Calendar Year Performance (GBP) 12M Rolling Period (GBP) 2020 2019 2018 2017 2016 09/20 - 09/19 - 09/18 - 09/17 - 09/16 - 08/21 08/20 08/19 08/18 08/17 Share Class (Net) 9,0 34,0 -20,7 36,7 7,9 44,4 12,3 -9,7 5,9 35,7 Peer Median (Net) 5,4 28,8 -12,6 28,1 7,9 52,7 2,4 -7,9 10,9 26,4 Peer Percentile 31% 17% 98% 9% 48% 78% 17% 62% 92% 12% Peer Quartile 2 1 4 1 2 4 1 3 4 1 Fund (Gross) 10,0 33,4 -19,2 37,1 8,8 46,2 13,7 -9,3 6,5 37,4 Index (Gross) -4,3 25,2 -15,3 19,5 11,1 49,3 -7,1 -7,2 3,5 21,6 Net returns – Net (of fee) returns assume income is reinvested for a local taxpayer, bid to bid performance (which means performance does not include the effect of any initial charges). Source Copyright © 2021 Morningstar UK Limited. Gross Fund returns - Gross Fund returns (where shown) are in-house calculated daily time weighted based on global close valuations with cash flows at start of day and are gross of fees. Past performance is not a guide to future performance. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fluctuations. This means that an investor may not get back the amount invested. Index returns assume reinvestment of dividends and capital gains and unlike fund returns do not reflect fees or expenses. The index is unmanaged and cannot be invested directly. The Investment Association (IA) is the trade body representing the UK investment management industry.

Source: FactSet For CTI's use only: T2UKSM Top 10 Holdings (%) Fund Currency Exposure including Hedging Security Name Fund Index 3,4 -- Communication Services Microlise Group Holdings Ltd. 3,2 -- Information Technology Marlowe Plc 3,0 -- Industrials Reach plc 2,8 0,8 Communication Services GBP 100,0% EUR 0,0% Knights Group Holdings Plc 2,8 -- Industrials USD 0,0% Blue Prism Group Plc 2,7 -- Information Technology CHF 0,0% 1Spatial Plc 2,7 -- Information Technology Victoria PLC 2,6 -- Consumer Discretionary plc 2,5 1,1 Industrials plc 2,5 0,9 Information Technology

Total 28,2 2,8 All % are as at calendar month end based at global close gross valuation point and on a look- through exposure basis to underlying assets including forward currency positions. Weightings (%) Sector Fund Index Diff Information Technology 23,7 7,0 16,7 Industrials 20,5 25,0 -4,5 Consumer Discretionary 17,4 18,0 -0,6 Communication Services 16,8 4,8 12,0 Health Care 7,5 3,8 3,8 Consumer Staples 5,9 4,7 1,2 Financials 3,5 16,0 -12,5 Materials 3,1 6,6 -3,5 Energy 0,5 3,7 -3,3 Real Estate -- 8,2 -8,2 Utilities -- 2,3 -2,3 Cash Equivalents 0,0 -- 0,0 Cash 1,1 -- 1,1

Top 10 Overweight/Underweight (%) 3 Month Largest Position Changes Overweight Fund Index Diff Underweight Fund Index Diff Security Name 3 Mth Change Future plc 3,4 -- 3,4 Holdings plc -- 1,4 -1,4 Microlise Group Holdings Ltd. 3,2 Microlise Group Holdings Ltd. 3,2 -- 3,2 plc -- 1,3 -1,3 Group PLC -2,9 Marlowe Plc 3,0 -- 3,0 PageGroup PLC -- 1,3 -1,3 Breedon Group PLC -1,6 Knights Group Holdings Plc 2,8 -- 2,8 Gamesys Group PLC -- 1,2 -1,2 Reach plc 1,1 Blue Prism Group Plc 2,7 -- 2,7 plc -- 1,2 -1,2 Avon Protection PLC -1,1 1Spatial Plc 2,7 -- 2,7 Group PLC -- 1,1 -1,1 Victorian Plumbing Group Plc 0,9 Victoria PLC 2,6 -- 2,6 Group PLC -- 1,1 -1,1 Galliford Try Holdings PLC -0,7 IQGeo Group PLC 2,1 -- 2,1 Plc -- 1,0 -1,0 Plc 0,6 Reach plc 2,8 0,8 2,0 PLC -- 1,0 -1,0 1Spatial Plc -0,6 FD Technologies PLC 2,0 -- 2,0 PLC -- 1,0 -1,0 Hotel Chocolat Group Plc 0,5

Top Positive/Negative Security Attribution (3 Months) Fund Index Attri. Fund Index Attri. Contr. Geo. Contr. Geo. Avg. Total Avg. Total Avg. Total Avg. Total To Total To Total Security Name - 10 Highest Weight Return Weight Return Security Name - 10 Lowest Weight Return Weight Return Return Effect Return Effect Reach plc 2,5 72,8 1,5 0,6 73,6 1,0 1Spatial Plc 3,1 -12,0 -0,4 -- -- -0,5 Future plc 3,4 35,8 1,1 -- -- 0,9 Mirriad Advertising plc 1,2 -34,0 -0,5 -- -- -0,5 Microlise Group Holdings Ltd. 1,3 37,8 0,9 -- -- 0,6 Ultra Electronics Holdings plc ------1,2 56,2 -0,5 S4 Capital plc 1,6 46,4 0,7 -- -- 0,5 Clinigen Group Plc 1,0 -26,3 -0,4 -- -- -0,4 Stock Spirits Group Plc 1,2 46,7 0,5 0,4 46,4 0,3 Liontrust Asset Management PLC ------0,7 57,6 -0,3 YouGov plc 1,4 29,8 0,4 -- -- 0,3 Group plc 1,3 -28,6 -0,5 0,6 -28,5 -0,3 discoverIE Group PLC 1,8 35,0 0,5 0,5 35,2 0,3 Jet2 PLC 1,3 -14,5 -0,2 -- -- -0,3 Blue Prism Group Plc 2,2 16,8 0,4 -- -- 0,3 ActiveOps plc 1,1 -19,2 -0,2 -- -- -0,3 Oxford Instruments plc 2,3 26,4 0,6 0,9 26,3 0,3 Group Plc 1,1 -17,1 -0,2 -- -- -0,2 PLC 0,9 34,9 0,3 -- -- 0,3 Argentex Group Plc 0,7 -21,6 -0,2 -- -- -0,2

Page 2 - UK Smaller Companies Fund - Z Acc GBP Relative Monthly Net Returns vs Peer Median 6%

4% 3,6% 3,5% 3,1% 2,9% 2,8% 2,4% 2,4% 2,4% 2,4% 2,3% 2,0% 1,7%

2% 1,6% 1,5% 1,5% 1,4% 1,4% 1,2% 1,2% 1,1% 1,0% 0,8% 0,7% 0,6% 0,2% 0,2% 0,1% 0% 0,0% 0,0% Return -0,2% -0,3% -0,2% -0,5% -0,4% -0,6% -0,6% -0,7% -0,7% -0,7% -0,8% -0,7% -0,8% -0,8%

-2% -1,0% -1,1% -1,1% -1,2% -1,2% -1,2% -1,4% -1,5% -1,6% -1,6% -1,8% -1,9% -2,3% -2,3% -4% -2,3% -4,2% -6% -4,4%

09/16 03/17 09/17 03/18 09/18 03/19 09/19 03/20 09/20 03/21

Net Returns - All performance is sourced from Morningstar. Returns are calculated on a bid-bid basis and are net of all other expenses. Returns assume income is invested for local taxpayer. Gross Returns - Gross Fund returns (where shown) are inhouse calculated daily time weighted based on global close valuations with cash flows at start of day and are gross of fees. Relative returns are calculated on a geometric basis. Past performance is not a guide to future performance. The value of investments and any income from them can fall as well as rise. All positions are based on gross portfolio asset valuations at global close. Groupings of securities, e.g. sectors are in-house defined and are for comparative purposes only. Risk Analysis Portfolio Statistics Market Cap Breakdown Chart 3 YR 5 YR Fund Index Fund Index Fund Index Price to Earnings FY1 31,5 17,9 Absolute Volatility 21,7 22,3 18,4 18,0 Price to Book 3,3 1,8 Relative Volatility 1,0 -- 1,0 -- Return On Assets -2,5 -2,3 2bn - 5bn 11,4% Tracking Error 8,2 -- 8,1 -- 1bn - 2bn 23,7% Sharpe Ratio 0,7 -- 0,9 -- Dividend Yield 0,6 1,8 500m - 1bn 26,0% <500m 38,8% Information Ratio 0,7 -- 0,9 -- Active Share 86,8 -- Beta 0,9 -- 0,9 -- Sortino Ratio 0,9 -- 1,3 -- Jensen Alpha 6,7 -- 7,8 -- Analytics are based on global close valuations using Columbia Annualised Alpha 6,4 -- 7,4 -- Threadneedle Investments sourced market attributes. Currency: GBP Alpha 0,5 -- 0,6 -- Underlying securities data may be provisional or based on Drawdown Max Drawdown -28,1 -35,6 -28,1 -35,6 estimates. Market cap weightings include cash in the % R² 86,5 -- 81,3 -- calculations. 0% -5% Ex post risk calculations are based on monthly gross global close returns. -10% -15% -20% -25% -30% -35% 09/16 05/17 01/18 09/18 05/19 01/20 09/20 05/21 Fund Index

Performance Attribution (Year to Date) Total Effect Analysis (Year to Date) Geometric Attrib. 15 Var. In Fund Index Rel. Index Avg. Total Total Total Rel. to Alloc. Selec. Total Utilities Weight Return Return Return Total Effect Effect Effect Information Technology Materials 10 Health Care Communication Services 10,9 42,3 24,4 14,3 -0,4 0,0 2,1 2,2 Communication Total Services Consumer Discretionary 0,3 44,1 29,3 11,4 3,6 0,0 2,2 2,1 5 Consumer Staples -0,1 16,7 20,0 -2,7 -3,9 0,0 0,0 0,0 Energy -3,9 -24,3 2,9 -26,4 -17,6 0,7 -0,2 0,5 Industrials Financials -11,2 19,7 27,4 -6,1 2,1 -0,3 -0,1 -0,4 0 Health Care 4,3 36,6 32,3 3,3 6,0 0,2 0,2 0,5 Energy Industrials -2,0 19,0 32,3 -10,1 5,9 -0,1 -2,3 -2,4 Consumer Discretionary -5 Information Technology 13,2 14,0 27,5 -10,6 2,1 0,6 -2,3 -1,8 Variation in Average Weight Consumer Staples Materials -1,7 8,3 2,3 5,8 -18,1 0,4 0,4 0,8 Real Estate Real Estate -8,7 -- 30,5 -23,4 4,5 -0,4 -- -0,4 Financials Utilities -2,6 -- -3,3 3,4 -22,5 0,7 -- 0,7 -10 Total -- 26,9 24,9 1,6 -- 1,6 0,0 1,6 -25 -20 -15 -10 -5 0 5 10 15 Relative Total Return Performance Attribution - Rolling 3 Month Total Effects 3 Month Effect Totals

Geometric Attrib. 4,0 Alloc. Selec. Total Fund Index 3,0 Total Total Alloc. Selec. Total 2,0 Return Return Effect Effect Effect 1,0 Aug-20 - Nov-20 9,0 12,0 -1,2 -1,6 -2,7 0,0 Nov-20 - Feb-21 10,9 13,2 1,0 -3,0 -2,0 -1,0 Feb-21 - May-21 12,5 12,7 -0,5 0,3 -0,2 -2,0 May-21 - Aug-21 -3,0 7,5 4,5 1,3 1,6 2,8 -4,0 11/20 02/21 05/21 08/21

Attribution analysis is calculated on a daily geometric basis unless otherwise stated. Fund returns may result in residual factors when compared to geometric attribution total returns due to data and calculation methodologies. Variation in weights is the average daily under/overweight position of the fund verses the index over the period. The Attribution table and graph only display a maximum of 12 groupings based on the highest portfolio end weight. The Rolling 3 Month Total Effect Attribution summary is based on the same groupings as the Year to Date Attribution.

Page 3 - UK Smaller Companies Fund - Z Acc GBP Share Classes Available Entry WKN/ Share Class Curr Tax OCF OCF Date Min Inv. Launch ISIN SEDOL BBID Valor/ Hedged Charge CUSIP Inst. Inc GBP -- 1,07% 07/03/21 0,00% 500.000 28/02/95 GB0001444479 0144447 TDNUKSA LN 987646 No Retail Inc GBP -- 1,59% 07/03/21 5,00% 2.000 28/02/95 GB0001530343 0153034 TDNUKSI LN 730683 No Z Inc GBP -- 0,89% 07/03/21 3,00% 1.000.000 15/10/12 GB00B7JL4Y45 B7JL4Y4 THSMZNI LN A1J0DC No Z Acc GBP -- 0,89% 07/03/21 3,00% 1.000.000 26/09/13 GB00B8SWL553 B8SWL55 THSZNGB LN A1T7J1 No The Share Class currency, unless indicated as a Hedged Share Class, is a translated price using exchange rates at the official valuation point of the fund. This is intended as a way to access a Share Class in your chosen currency and does not reduce your overall exposure to foreign currency. The fund currency indicates the highest currency exposure of the fund unless the currency breakdown is detailed in the Weightings % table on page 2.

Risks Opportunities nThe value of investments can fall as well as rise and investors might not get back the sum originally invested. nHas the flexibility to pursue investment opportunities wherever we believe nWhere investments are in assets that are denominated in multiple currencies, or currencies other than your they exist in the UK market. own, changes in exchange rates may affect the value of the investments. nSmaller companies can be a source of long-term growth: seeking the nThe Fund holds assets which could prove difficult to sell. The Fund may have to lower the selling price, sell industry leaders of tomorrow. other investments or forego more appealing investment opportunities. nLeverages the strength of one of the most experienced and largest UK nThe Fund may invest in derivatives with the aim of reducing risk or minimising the cost of transactions. Such equity teams in the industry. derivative transactions may benefit or negatively affect the performance of the Fund. The Manager does not intend that such use of derivatives will affect the overall risk profile of the Fund.

Important Information For use by Professional and/or Qualified Investors only (not to be used with or passed on to retail clients). Past performance is not a guide to future performance. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fluctuations. This means that an investor may not get back the amount invested. Your capital is at Risk. Threadneedle Investment Funds ICVC (“TIF”) is an open-ended investment company structured as an umbrella company, incorporated in and Wales, authorised and regulated in the UK by the Financial Conduct Authority (FCA) as a UK UCITS scheme. This material is for information only and does not constitute an offer or solicitation of an order to buy or sell any securities or other financial instruments, or to provide investment advice or services. The dealing price may include a dilution adjustment where the fund experiences large inflows and outflows of investment. Further details are available in the Prospectus. Subscriptions to a Fund may only be made on the basis of the current Prospectus and the Key Investor Information Document (KIID), as well as the latest annual or interim reports, which can be obtained free of charge on request, and the applicable terms & conditions. Please refer to the ‘Risk Factors’ section of the Prospectus for all risks applicable to investing in any fund and specifically this Fund. The above documents are available in English, French, German, Portuguese, Italian, Spanish and Dutch (no Dutch Prospectus) and free of charge on request from Threadneedle Investment Services Ltd, Client Services department P.O. Box 10033, Chelmsford, Essex CM99 2AL. Portfolio positions are based on gross asset valuations at global close (not official NAV time). Historic Yield reflects distributions declared over the past 12 months. Distribution Yield reflects the amount that may be expected to be distributed over the next 12 months. Underlying Yield reflects the annualised income net of expenses of the fund. Yields shown do not include any preliminary charge and investors may be subject to tax on their distributions. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. Issued by Threadneedle Investment Services Limited. Registered in England and Wales, Registered No. 3701768, Cannon Place, 78 Cannon Street, London EC4N 6AG, United Kingdom. Authorised and regulated in the UK by the Financial Conduct Authority (FCA). Source: Numis Smaller Companies Index

Page 4 - UK Smaller Companies Fund - Z Acc GBP Modified Date - 09 September 2021