Pandemic Impact. Economic Recovery. Investment Strategy

1. Pandemic Impact. Economic Recovery. Investment Strategy – Insights Revealed! Speaker: Chirag Mehta, Senior Fund Manager, Alternative Investments Sorbh Gupta, Fund Manager, Equity May 21, 2021

2. Covid-19: Second Wave or Tsunami

3. As cases surged in Wave 2, Europe Increased Testing over 7 months – India in month 3, needs more Testing 3,000,000 2,150,991 2,500,000 2,000,000 1,094,007 930,340 1,500,000 740,747 1,000,000 334,950 203,608 190,092 189,411 142,820 117,763 500,000 - India France Italy Switzerland UK Day 1 of Second Wave As of Date (April 2021) Note: We have considered Day 1 of second wave for European Nations as 01stOct 2021 and for India as 01stFeb 2021 Source : www.ourworldindata.org

4. Fewer test may result in lower “Total Cases / Million” 90,000 81,216 80,000 74,701 70,000 65,852 65,187 60,000 50,000 40,000 30,000 20,000 12,290 9,082 7,802 6,817 6,220 10,000 5,250 - India France Italy Switzerland UK Day 1 of Second Wave As of Date (April 2021) Note: We have considered Day 1 of second wave for European Nations as 01stOct 2021 and for India as 01stFeb 2021 Source : www.ourworldindata.org

5. Lower cases reported will see lower “Total Deaths / Million” due to COVID 2,500 1,983 2,000 1,881 1,523 1,500 1,223 1,000 623 594 470 500 240 146 112 - India France Italy Switzerland UK Day 1 of Second Wave As of Date (April 2021) Note: We have considered Day 1 of second wave for European Nations as 01stOct 2021 and for India as 01stFeb 2021 Source : www.ourworldindata.org

6. Doctors, Nurses and Hospital Beds per 100,000 population Hospital beds per 100,000 people Doctors per 100,000 people Nurses per 100,000 people Countries India 136 86 170 China 430 200 270 Srilanka 420 100 220 USA 290 260 1450 Germany 800 420 1320 Japan 1300 240 1220 World Average 290 160 380 World Bank Database

7. Global Comparison of Healthcare spends Public Expenditure as % of GDP Total Healthcare Spends as % of GDP Share of Out of Pocket expenses Countries India 1.3% 3.6% 64.0% Japan 9.2% 10.9% 15.6% China 2.9% 4.5% 35.8% USA 14.3% 16.9% 15.4% South Korea 4.8% 7.1% 32.5% Germany 9.5% 11.2% 15.2% UK 7.5% 9.0% 16.3% Source: https://data.worldbank.org; https://www.livemint.com/news/india/india-s-economy-needs-big-dose-of-health-spending-11586365603651.html; https://prsindia.org/budgets/parliament/demand-for-grants-analysis-health-and-family-welfare; Union budget 2020

8. Vaccine Rollout – A Slow Start

9. Scenario 1: Covid-19 recedes

10. Asset Class Outlook for 2021 if Covid-19 Recedes Equities > Debt, Gold Central banks stay accommodative for some time before tapering Corporate and government balance sheets improve Strong wave of spending Increase in inflation Equities Equities Equities Equities Debt Debt Debt Debt Gold Gold Gold Gold

11. Scenario 2: Covid-19 lingers

12. Asset Class Outlook for 2021 if Covid-19 Lingers Debt, Gold > Equities Lower taxes, lower GDP and higher spending will increase Government deficit Recessionary conditions: less spending Central Banks stay accommodative to boost growth Liquidity will lead to asset price inflation Equities Equities Equities Equities Debt Debt Debt Debt Gold Gold Gold Gold

13. Bank on Stability

14. 14 Are low & falling FD rates bothering you? 14 SBI 1 year FD rate 12 Bank FD interest rates 10 SBI 2.90% - 5.40% 8 HDFC 2.50% - 5.50% 6 ICICI 2.50% - 5.50% 4 Axis 2.50% - 5.75% Kotak 2.50% - 5.30% 2 Data as of May 10th2021 Source: FD Interest Rates - Compare Best Fixed Deposit Rate in India, 10 May 2021 (myloancare.in). Bloomberg, SBI

15. FD could be a long term losing proposition Consumer Basket 1990* 2000 2010 2015 2020 CAGR TOTAL SPENDING PER ANNUM 23,759 68,923 151,279 280,064 427,619 10.1% Price of gold, INR/10 grams 3,409 4,528 18,268 26,335 50,104 9.4% Units ( Grams) of gold to consume my basket 70 152 83 106 85 BSE SENSEX 730 4,659 15,585 26,557 47,751 14.9% Units of BSE-30 Index to consume my basket 33 15 10 11 9 Fixed Deposit Basket Index Value (Value of initial investment Jan 1, 1990 =1000) (SBI 1 Year Deposit Rate)* 1,064 2,220 3,550 4,628 5,814 6.0% Units of FD Basket to consume my basket 22 31 43 61 73 Past performance may or may not sustained in future Quarterly compounding and Tax rate on Fixed Deposit assumed to be 30%

16. 16 Other assets have done well but it’s a challenge to pick winners amidst volatility There have been years when equity markets had a brilliant run, years when only bonds were dependable, and years when gold shined the brightest, and these periods did not typically overlap 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021* Sensex 49% Sensex 49% Gold 26% Sensex 83% Gold 23% Gold 32% Sensex 28% Sensex 11% Sensex 32% Bonds 9% Bonds 13% Sensex 30% Gold 8% Gold 16% Gold 28% Sensex 2% Gold 20% Gold 16% Bonds 9% Gold 24% Sensex 19% Bonds 7% Gold 12% Bonds 4% Bonds 14% Sensex -4% Gold 11% Gold 5% Sensex 7% Sensex 14% Sensex 17% Bonds 0.3% Bonds 4% Bonds 7% Sensex -52% Bonds 4% Bonds 5% Sensex -24% Bonds 9% Gold -5% Gold -8% Gold -7% Sensex 3% Bonds 5% Bonds 6% Bonds 11% Bonds 12% Gold -5% Past performance may or may not sustained in future The chart ranks the best to worst performing indexes per calendar year from top to bottom *Data as of April 2021 Past performance may or may not be sustained in future. Based on S&P BSE Sensex; Domestic Gold prices and CRISIL Composite Bond Fund Index Imagine someone holding an all equity portfolio in 2008, or holding none in the equity rally that followed? Source: Bloomberg

17. “BLACK SWAN” OR BLACK CROW? 26 years, 17 dislocations – maybe 4 unexpected • 1994: the Harshad Mehta scam, • 1995: the Mexico tequila crisis and the collapse of Emerging Markets, • 1997; the Asian crisis and the collapse of Emerging Markets, • 1998: the bankruptcy of Russia and hedge fund Long Term Capital Management, • 2000: the collapse of the tech bubble, • 2001: 9/11 and the bankruptcy of Unit Trust of India, • 2003: SARS, the Iraq war • 2008: the bankruptcy of Lehman, the Global Financial Crisis • 2013: Bernanke's twist led to India's collapse • 2016: Demonetization and the Great Indian Economic Slowdown • 2018: bankruptcy of IL&FS • 2019: Cooperative banks and developers going bust, • 2020: YES Bank, COVID-19

18. 18 Portfolio Impact of Diversification If you compound your money at 12% per year you are better off than an investor who makes 25% in one year and loses 20% in the next Risk-Return Equity +Debt +Gold * Equity + Debt ** Equity Debt Gold 11.05% 11.00% 12.53% 7.24% 11.41% CAGR 9.41% 13.53% 22.15% 3.29% 17.37% Annualized SD -15.53% -22.32% -36.55% -5.43% -28.67% VAR -21.43% -36.08% -56.17% -6.29% -25.22% Maximum Drawdown 0.5332 0.3674 0.2936 0.3662 0.3094 Sharpe Ratio Time frame is November 2004 to April 2021. The period is taken from 2004 since the asset allocation weights are calculated based on normalizing the historical monthly equity and debt indicators. Given the normalization time frame used in the strategy, data availability for certain parameters beyond the time frame analyzed was a constraint. Compiled by Quantum AMC *Equity-Debt-Gold in ratio of 40-40-20. **Equity-Debt allocated in 60-40 range Based on Sensex TRI, Crisil Composite Bond fund index, and Domestic Gold Prices Note: Past performance may or may not be sustained in the future The most diversified strategy yields similar returns with the lower volatility, compared to a pure equity strategy

19. Performance of Quantum Multi Asset Fund of Funds Direct Plan – Growth Option The Scheme is co-managed by Mr. Chirag Mehta and Mr. Nilesh Shetty since July 11, 2012. Current Value of 10,000 Invested at the beginning of a given period Period Benchmark Returns (%)# Scheme Returns (%) 0 S&P BSE Sensex TRI Returns (%) Benchmark (Rs)# S&P BSE Sensex TRI (Rs.) Scheme (Rs) 1 year 11,600 12,001 14,626 16.00% 20.01% 46.26% 3 years 12,795 13,863 14,377 8.55% 11.49% 12.85% 5 years 15,544 17,026 20,260 9.21% 11.22% 15.15% 7 years 18,596 20,175 23,874 9.26% 10.54% 13.23% Since Inception (11th July 2012) 22,254 23,944 31,329 9.50% 10.42% 13.84% Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation. Data as of 30thApril 2021 Different Plans shall have different expense structure. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). #Benchmark has been changed from Crisil Composite Bond Fund Index (40%) + S&P BSE SENSEX Total Return Index (40%) + Domestic price of gold (20%) to CRISIL Composite Bond Fund Index (20%) + S&P BSE Total Return Index (40%) + CRISIL Liquid Index (25%) + Domestic Price of Gold (15%) with effective from April 01, 2021. It is a customized index and it is rebalanced daily. For performance of other Schemes Managed by Mr. Chirag Mehta please see slide number 31,51 & 52. For performance of other Schemes Managed by Mr. Nilesh Shetty please see slide number 44.

20. Quantum Multi Asset Fund of Fund An example of dynamic asset allocation Equity allocation Sensex TRI 65.00% 75000 60.00% 60000 55.00% 50.00% 45000 45.00% 30000 40.00% 35.00% 15000 30.00% 25.00% 0 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 Oct-18 Oct-19 Oct-20 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19 Aug-20 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Data as of April 2021; Source: Quantum MF Note: Past performance may or may not be sustained in future.

21. 21 90% of the time, you would have been better off than a FD Quantum Multi Asset Fund of Funds 250 Total Days: 3215 Down Days: 336 Down Days %: 10.45 240 SBI 1 year deposit 230 220 CRISIL Composite Bond Fund Index (20%) + S&P BSE Total Return Index (40%) + CRISIL Liquid Index(25%) + Domestic price of Gold (15%) 210 200 190 N A V 180 Returns since inception: 9.50% Standard Deviation : 5.99% (Annulised since inception) 170 160 150 140 130 120 110 (Base = 100, as on 11th July 2012) 100 90 11-Jul-12 30-Apr-21 Period Past performance may or may not be sustained in future. The comparison with Fixed Deposits has been given for the purpose of the general information only and not a recommendation to invest. Investments in Quantum Multi Asset Fund of Funds / mutual funds should not be construed as a promise, guarantee on or a forecast of any minimum returns. Unlike fixed deposit with Banks there is no capital protection guarantee or assurance of any return in Quantum Multi Asset Fund of Funds / mutual funds investment. Investment in Quantum Multi Asset Fund of Funds as compared to Fixed Deposits carry moderately high risk, different tax treatment and subject to market risk and any investment decision needs to be taken only after consulting the Tax Consultant or Financial Advisor. Source – Bloomberg, Quantum AMC The performance shown in the graph should be reviewed in conjunction with detailed performance of the scheme provided on slide number 19

22. 22 84% of the time, you would have been better off on a 3-Year rolling basis QMAFOF 3 years rolling returns Total Days: 2120 Down Days : 336 Down Days %: 15.85 16% SBI FD 3 years rolling returns CRISIL Composite Bond Fund Index (20%) + S&P BSE Total Return Index (40%) + CRISIL Liquid Index(25%) + Domestic price of Gold (15%) 3 years rolling returns 14% 12% 10% 8% 6% 4% 2% 0% September,… September,… September,… September,… September,… September,… May, 16 May, 17 May, 18 May, 19 May, 20 August, 15 August, 16 August, 17 August, 18 August, 19 August, 20 November, 15 December, 15 January, 16 November, 16 December, 16 January, 17 November, 17 December, 17 January, 18 November, 18 December, 18 January, 19 November, 19 December, 19 January, 20 November, 20 December, 20 January, 21 July, 15 July, 16 July, 17 July, 18 July, 19 July, 20 June, 16 June, 17 June, 18 June, 19 June, 20 April, 16 April, 17 April, 18 April, 19 April, 20 April, 21 October, 15 March, 16 October, 16 March, 17 October, 17 March, 18 October, 18 March, 19 October, 19 March, 20 October, 20 March, 21 February, 16 February, 17 February, 18 February, 19 February, 20 February, 21 Past performance may or may not be sustained in future. The comparison with Fixed Deposits has been given for the purpose of the general information only and not a recommendation to invest. Investments in Quantum Multi Asset Fund of Funds / mutual funds should not be construed as a promise, guarantee on or a forecast of any minimum returns. Unlike fixed deposit with Banks there is no capital protection guarantee or assurance of any return in Quantum Multi Asset Fund of Funds / mutual funds investment. Investment in Quantum Multi Asset Fund of Funds as compared to Fixed Deposits carry moderately high risk, different tax treatment and subject to market risk and any investment decision needs to be taken only after consulting the Tax Consultant or Financial Advisor. Source – Bloomberg, Quantum AMC The performance shown in the graph should be reviewed in conjunction with detailed performance of the scheme provided on slide number 19

23. Unbiased, dynamic and agile asset allocation.. Asset class Range of Exposure Fund Quantum Long Term Equity Value Fund, Quantum Nifty ETF, Quantum India ESG Equity Fund Equity 25-65% Quantum Liquid Fund, Quantum Dynamic Bond Fund Debt 25-65% Quantum Gold Fund (ETF) Gold 10-20% Past performance may or may not sustained in future

24. Bank on Sustainability

25. 25 Sustainability Initiatives  Business professional promoter holding of ~60% managed CEO by despite  5 of 9 Board members are independent Shree Cement  37% of the material from renewable sources  93% of packaging material is recyclable  Implemented sourcing guidelines in 2017 responsible Data Source: Bloomberg, LLP Past Performance may or may not be sustained in future. Stocks referred above are illustrative and not recommendation of Quantum Mutual Fund/AMC. The Fund may or may not have any present or future positions in these Stocks. The above information of stocks which is already available in publically access media for information and illustrative purpose only and not an endorsement / views / opinion of Quantum Mutual Fund /AMC. The above information should not be constructed as research report or recommendation to buy or sell of any stocks. Past Performance may or may not be sustained in future.

26. 26 Examples of irresponsible corporate behavior and their consequences ENVIRONMENTAL Affected element Irresponsible behavior Consequence Inadequate and poor proper waste management system Use of traditional technologies to produce high-end products which lead to higher pollution Unchecked deforestation and mining can make the ground unsuitable for plant life Litigation and fines Bad reputation Protests by community members and organizations Negative media attention Stalled projects Water Air Shree Cement Land SOCIAL Affected element Irresponsible behavior Consequence Litigation, bad reputation, product boycotts, Protests by community members and organizations Negative media attention Strikes and factory shutdowns; liabilities in case of injury or death of employee; sexual harassment cases; inability to attract and retain good talent Consumer complaints, refunds, fewer repeat purchases, loss of market share, bad reputation, risk of litigation Supplier Low cost suppliers Unfair wages or poor working conditions Employee Customer Low quality raw materials

27. 27 A Positive Correlation Between Sustainability and Economic Profitability *Percentage of studies showing Data Source: Oxford report ‘From stockholder to stakeholder’ based on more than 200 academic studies (March 2015) Strong ESG profile More competitive Higher Profitability Higher dividends Lower risk of severe incidents Strong ESG profile Better risk management Lower tail risk Low systematic risk Strong ESG profile Low cost of capital High valuation

28. Evidence of Stock Price Reaction to Negative News Share price drop on NSE Stock News Issue Date Investigations against the former chairman following allegations that he offered loans worth crores to people recommended by politicians, placed his relatives in plum positions, and for even diverting funds meant for the bank’s corporate social responsibility (CSR) initiative J&K Bank Governance June -19 ~20% in 1 day A whistleblower email claims Sun Pharma promoter Dilip Shanghvi and his brother-in- law engaged in financial irregularities with stock market scam accused Dharmesh Doshi Dec-18 Sun Pharma Governance ~26% in 2 months Manpasand Beverages Deloitte resigned as statutory auditor before Q4 results saying in a letter to the board that the company didn’t provide “significant information.” Governance May -18 ~40% in 2 days Company came under the SEBI scanner for alleged price and volume manipulation of its own scrip on the BSE Vakrangee Governance Feb-18 ~48% in 5 days Social & Environment Vedanta Jan-14 ~66% in 2 years Government rejected Vedanta’s bauxite mining plans in Niyamgiri Chairman confessed to accounting fraud to the tune of ₹7,000 crore and to falsifying revenues, margins and cash balances of the company. One of the largest accounting frauds, which raised serious questions on India’s corporate governance standards as well as the credibility of auditors. Satyam Computer Services Governance Jan-09 ~78% in 1 day Stocks referred above are illustrative and not recommendation of Quantum Mutual Fund/AMC. The Fund may or may not have any present or future positions in these Stocks. The above information of stocks which is already available in publically access media for information and illustrative purpose only and not an endorsement / views / opinion of Quantum Mutual Fund /AMC. The above information should not be constructed as research report or recommendation to buy or sell of any stocks.

29. 29 ESG Indices Versus Equity Indices 400 MSCI India ESG Leaders Index 350 NIFTY 100 ESG Index 300 NIFTY Index 250 BSE 200 Index MSCI India Index 200 150 100 50 - Jul 2011 Jul 2012 Jul 2013 Jul 2014 Jul 2015 Jul 2016 Jul 2017 Jul 2018 Jul 2019 Jul 2020 Apr 2011 Oct 2011 Apr 2012 Oct 2012 Apr 2013 Oct 2013 Apr 2014 Oct 2014 Apr 2015 Oct 2015 Apr 2016 Oct 2016 Apr 2017 Oct 2017 Apr 2018 Oct 2018 Apr 2019 Oct 2019 Apr 2020 Oct 2020 Apr 2021 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Higher returns over long duration, Lower downside risk, Less volatile, Sustainable Profitability As on April 30, 2021. Data Source: Bloomberg, LLP Past performance may or may not sustained in future

30. ESG is more about Identifying Opportunities Governance - Board / Management / Ethics Environment and Social Externalities' Financial Strength Growth & Capital Efficiency Disruptive Change

31. Performance of Quantum India ESG Equity Fund - Direct Plan The Scheme is managed by Mr. Chirag Mehta and Ms. Sneha Joshi. Mr. Chirag Mehta is the Fund Manager effective from July 12, 2019. Ms. Sneha Joshi is the Associate Fund Manager effective from July 12, 2019 Current Value of 10,000 Invested at the beginning of a given period Additional Benchmark Additional Benchmark Benchmark Benchmark Period NIFTY 100 ESG TRI (%) S&P BSE Sensex TRI (%) NIFTY S&P BSE Sensex TRI (Rs) Scheme Returns (%) Scheme (Rs) 100 ESG TRI (Rs) 1 Year 61.20% 54.08% 46.26% 16,120 15,408 14,626 Since Inception (12th July 2019) 23.04% 19.85% 14.81% 14,540 13,867 12,832 Past performance may or may not be sustained in the future. Data as of 30thApril , 2021 Load is not taken into consideration in scheme returns calculation Different Plans shall have different expense structure. The Schemes has been in existence for more than 1 year but has not yet completed 3 and 5 years period. Returns are net of total expenses and calculated on the basis of Compounded Annualized Growth Rate(CAGR). For performance of other Schemes Managed by Mr. Chirag Mehta please see slide number 19, 51 & 52. Mr. Chirag Mehta manages 5 schemes of Quantum Mutual Fund.

32. Equities: Questions in Investor’s Mind Equities : Resilient or Complacent?

33. Though localized, all of India is under some kind of restriction

34. Covid-19: Lockdown déjà vu ‘This Time is Different’ How is Corporate India Placed ? The lockdowns are lesser stringent this time. Corporate Balance-Sheet are better. The focus has been on debt reduction and liquidity Last one year has been all about cost control and business continuity Pvt. Banks & NBFC’s have raised capital and are best capitalized in last 10 years As Global Recovery is intact, export companies and commodity producers are comfortably placed

35. Corporate India: Listed Companies Are Faring Better

36. Smaller Companies are Losing Market Share Sales Growth Fixed Assets 30% 30% 20% 20% 10% 10% 0% -10% 0% -20% -10% -30% -20% -40% -50% -30% -60% -40% Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20 Top 3 Deciles Bottom 3 Deciles Top 3 Deciles Bottom 3 Deciles CMIE- Economic Outlook, Data as on December 2020

37. Business Strength of Larger Companies Reflect in Equity Returns Over Long Term Data as on 31stMarch 2021 Past performance may or may not sustained in future

38. Spiking PER Overstates Valuation Given The June Quarter’s Gap Down Source: Bloomberg Finance L.P., as March, 2020 Past Performance may or may not be sustained in future.

39. Estimates Corrected Sharply during first wave. Have seen upgrades since then Data as on 30thApril 2021 Past performance may or may not sustained in future

40. Earning upgrades driven by margin expansion: Real test of upgrade cycle will start now: EBITDA vs Revenue Growth % (FY21) No. of Firms (A)** Firms with EBITDA outperformance YoY (B) (B)/(A) % Firms with EBITDA outperformance QoQ (C) (C)/(A) % 1Q21 80 27 34% 36 45% 2Q21 80 60 75% 52 65% 3Q21 80 57 71% 41 51% 4Q21* 28 20 71% 10 36% EBITDA Margins (FY21) No. of Firms (A)** Firms with margin Improvements YoY (B) (B)/(A) % Firms with margin Improvements QoQ (C) (C)/(A) % 1Q21 80 27 34% 40 50% 2Q21 80 60 75% 61 76% 3Q21 80 58 73% 42 53% 4Q21* 28 20 71% 10 36% * As of now 28 firms have come out with results in 4q21 ** Out of BSE 100; 20 firms are financials hence not considered for analysis Past performance may or may not sustained in future. Source: Bloomberg

41. Myth #1- “India will grow 8% P.A” Real GDP growth rate across 10 governments has been 6.3% p.a. over the last 39 years 6.5% is a good long-term assumption; 8% is NOT a good long-term assumption! Source: RBI and www.parliamentofindia.nic.in as of June 2019. Note: The number in red rectangle is from a changed data series starting Jan 2015. While a “superior” series, there is no comparable number to equate the “New” with the “Old”. Most economists deduct 0% to 1.5% from the “New” to equate to the “Old”; therefore under Modi, the GDP has been at 5.9% at best matching the 5.6% under the BJP-led coalition government of Vajpayee that resulted in a rout for the BJP at the time of the next election in 2004!* Please note that data used for World GDP for 2017 is a median Estimate since World Bank data is not yet available and India GDP data is governments second advance estimate released at the end of May.

42. Lockdowns Need to be Contained: India’s Biggest Risk – Jobs & Income

43. Mr. Sorbh Gupta Work experience: 15 years. He has been managing this fund Since December1, 2020. Fund Manager Mr. Nilesh Shetty Work experience: 16 years. He has been managing this fund Since March 28, 2011. Category of Scheme Value Fund Quantum Long Term Equity Value Fund • Uses bottom-up stock selection process used to minimize risk. • Follows disciplined research and investment process. • Low portfolio turnover. • Holds cash when stock are overvalued - no derivatives and no hedging. • A well-balanced portfolio: typically 25 to 40 stocks, across sector. Features Retirement Planning. Child’s Education. Child’s Marriage. Wealth Creation. Useful for

44. Performance of Quantum Long Term Equity Value Fund – Direct Plan – Growth Option The Scheme is co-managed by Mr. Sorbh Gupta and Mr. Nilesh Shetty. Mr. Sorbh Gupta is the Fund Manager effective from December 1, 2020. Mr. Nilesh Shetty is the Fund Manager effective from March 28, 2011. Current Value of 10,000 Invested at the beginning of a given period Additional Benchmark Additional Benchmark Benchmark* Benchmark* Period S&P BSE 200 TRI (%) S&P BSE Sensex TRI (%) S&P BSE 200 TRI (Rs) S&P BSE Sensex TRI (Rs) Scheme Returns (%) Scheme (Rs) 57.24% 53.92% 46.26% 15,724 15,392 14,626 1 year 7.82% 11.46% 12.85% 12,538 13,851 14,377 3 years 11.17% 15.09% 15.15% 16,991 20,209 20,260 5 years 12.31% 14.43% 13.23% 22,546 25,710 23,874 7 years 11.47% 11.84% 11.35% 29,659 30,659 29,328 10 years 13.39% 12.12% 11.99% 67,030 56,564 55,546 Since Inception (13th Mar 2006) Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation. Data as of 30th April 2021 Different Plans shall have different expense structure. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). *with effect from February 01,2020 benchmark has been changed from S&P Sensex TRI to S&P BSE 200 TRI. As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR S&P BSE 200 index PRI Value from March 13, 2006 to July 31, 2006 and TRI Value since August 1, 2006. For performance of other Schemes Managed by Mr. Sorbh Gupta please see slide number 53 and for performance of other Schemes Managed by Mr. Nilesh Shetty please see slide 19

45. Quantum Long Term Equity Value Fund – A Must have Equity Diversified Fund Value Oriented Equity Diversified Fund since March 2006 Well balanced portfolio: typically 25 to 40 stocks, across sectors Instrumental for Long Term Financial Goals like Retirement, Child’s Education, Child’s Marriage & Wealth Creation A disciplined research and investment process Low portfolio turnover: Buy after Conviction, Hold it for long Holds shares or cash: No derivatives, No hedging

46. Portfolio geared to benefit from the economic recovery at the same time minimizing risk of permanent loss of capital Winter crop (Rabi) production has been robust monsoon is expected to be normal. The recent surge in agri commodity prices will help farm income. Some of the portfolio stocks are well positioned to benefit from strong agri & rural economy High quality stocks in IT, Consumer discretionary, Banking & Capital goods, available at reasonable valuations were added to the portfolio in the correction in February & March 2020 Higher weight in Cyclicals like NBFCs & Consumer discretionary should aid performance in an economic recovery Portfolio stocks look comfortable after stress test - have strong balance-sheet or strong parentage to survive the downturn Existing cash holding will be used to add new names in case of correction

47. 2021 – Boom & Bust, Evenly Poised • Boom: • Real economic activity continue to revive & corporate earning upgrade happen • Real estate revives – stamp duty cut, lower interest rates spur real estate demand • Factories relocate from China to India • Foreign flows – FDI + FII driven by higher yields and faster growth • Bust: • Poor Government Policy • Resurgence in Covid cases, Poor execution of Vaccine rollout • Rising Inflation could dampen Demand Recovery

48. 2021- A Simple Asset Allocation Strategy to Deal with Market Cycles

49. Solutions to meet Sustainable Development Goals: SGD-17 = “SMILE” + WHAT IS SMILE? THE SMILE STORY OUTCOME SO FAR SMILE was born out of our desire to support credible NGOs and create a steady stream of money flow for them Since 2018, Quantum MF investors have supported 7 NGOs from diverse sectors via the SMILE facility SMILE enables Quantum MF investors to contribute 10% of their investment in eligible schemes to charities vetted by HelpYourNGO

50. SMILE Process Flow DONATION RECEIPTS DONATE TO NGO’S INVEST IN SMILE FACILITY Q Long Term Equity Value Fund Q Equity Fund of Funds Q Dynamic Bond Fund Q Multi Asset Fund of Funds Q Gold Savings Fund Q Liquid Fund HelpYourNGO sends donation receipts and 80G Donated to NGOs selected by investors and vetted by HelpYourNGO Liaises with NGO grantees Monitors & reviews * Q Stands for Quantum for scheme names Investors receive periodic program reports from HYNGO on the NGOs supported by them Investors receive periodic program reports from HelpYourNGO on the NGOs supported by them