Adventurous 31 August 2021 Life Fund SW Royal London UK Equity Income Fund Life Asset Allocation (as at 31/08/2021) This document is provided for the purpose of UK Equities 100.0% information only. This factsheet is intended for individuals who are familiar with investment terminology. Please contact your financial adviser if you need an explanation of the terms used. This material should not be relied upon as sufficient information to support an investment decision. The portfolio data on this factsheet is updated on a quarterly basis. Fund Aim Royal London describe their fund's aim as follows: To achieve a combination of income and some capital growth. The Fund invests mainly in the shares of UK companies which Sector Breakdown (as at 31/07/2021) pay a higher level of income. The Fund may Industrials 21.2% also invest a small portion in other UK shares.Please note: the Scottish Widows unit- Financials 20.8% linked funds aim to provide long-term growth in Consumer Discretionary 13.2% the price of units. Any income generated will Health Care 9.2% not be distributed, but added to the fund value. Utilities 8.8% Basic Fund Information Basic Materials 7.3% Fund Launch Date 14/11/2016 Consumer Staples 6.5% Fund Size £2.0m Energy 6.5% Real Estate 4.5% Sector ABI UK Equity Income Technology 2.0% ISIN GB00BYPG4316 MEX ID SWBXT Regional Breakdown (as at 31/08/2021) SEDOL BYPG431 Manager Name Richard Marwood, Niko de Walden Manager Since 21/05/2021, 21/05/2021 Top Ten Holdings The composition of asset mix and asset allocation may change at any time and exclude cash (as at 31/08/2021) unless otherwise stated ASTRAZENECA PLC 5.4% BRITISH AMERICAN TOBACCO 3.9% GLAXOSMITHKLINE 3.9% ROYAL DUTCH SHELL PLC 3.9% RIO TINTO 3.6% IG GROUP HLDGS 3.2% IMI CO 3.0% 3I GROUP PLC 2.9% CLOSE BROS GROUP PLC 2.8% RELX NV 2.7% TOTAL 35.3% Page 1 Past Performance Fund Rating Information 50% Overall Morningstar - Rating Morningstar Analyst 25% Rating FE fundinfo Crown Rating 0% The FE fundinfo Crown Rating relates to this fund. However, the Morningstar ratings are based on the underlying fund. These are supplied by the respective independent ratings agencies and are the latest available at the Nov 16 Feb 18 May 19 Aug 20 Sep 21 time this factsheet was issued. Past 14/11/2016 - 31/08/2021 Powered by data from FE fundinfo performance is not a reliable indicator of future SW Royal London UK Equity Income Life results. ABI UK Equity Income Other Information The views, opinions and forecasts expressed Discrete Performance in this document are those of the fund 30/06/2020 - 30/06/2019 - 30/06/2018 - 30/06/2017 - 30/06/2016 - manager. Investment markets and conditions 30/06/2021 30/06/2020 30/06/2019 30/06/2018 30/06/2017 can change rapidly and as such the views expressed should not be taken as statement of SW Royal London UK 23.4% -15.1% -0.5% 5.6% - fact, nor should reliance be placed on these Equity Income Fund Life views when making investment decisions. ABI UK Equity Income 21.7% -14.8% -2.5% 4.8% 17.5% Scottish Widows Information is shown as unavailable if prior to the launch of fund. 69 Morrison Street Edinburgh EH3 1HL Cumulative Performance 31/07/2021 - 31/05/2021 - 31/08/2020 - 31/08/2018 - 31/08/2016 - Not all products have access to this fund, 31/08/2021 31/08/2021 31/08/2021 31/08/2021 31/08/2021 please refer to the relevant product literature. Full terms and conditions are available on SW Royal London UK 2.2% 4.0% 30.1% 8.1% - request from us using the contact details Equity Income Fund Life provided. Charges, terms and the selection of ABI UK Equity Income 2.1% 2.4% 26.6% 4.0% 18.1% funds we make available may change. Information on the general and specific risks Quartile 2 1 2 2 - associated with investing in this fund is available in the relevant fund guide, or KIID Source: FE fundinfo as at 31/08/2021 where applicable. We may change the investment approach rating for the fund. All information is sourced from Scottish Widows or the relevant fund management group unless otherwise stated. Quarterly Fund Manager Review During the second quarter, the fund was ahead of both the FTSE All-Share index and competitors. The financials sector was a key driver of performance, with holdings in Paragon, Investec and Brewin Dolphin noteworthy contributors. The holdings in the engineering company IMI and the homewares retailer Dunelm both performed well after releasing strong trading statements and the water utility Pennon also performed well after announcing a large return of capital to shareholders alongside results and the acquisition of Bristol Water. During the quarter, the fund sold its remaining shares of Signature Aviation and exited the position in BT. Two new positions were established: mining company Anglo American and food producer Tate & Lyle. Adding Anglo American to the portfolio diversifies the range of metals and minerals that the portfolio is exposed to, as the other mining holding in the fund, Rio Tinto, is predominantly exposed to iron ore. Tate & Lyle is a cash generative business that pays an attractive dividend, but which also has some interesting optionality, as it in the process of trying to reduce its exposure to more commoditised ingredients and focus down on its higher growth business areas. If this strategy can be successfully executed, it could add significant value to the company. Richard Marwood, Niko de Walden 30/06/2021 The views, opinions and forecasts expressed in this document are those of the fund management house. Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact, nor should reliance be placed on these views when making investment decisions. Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered Office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655. Page 2.