Public e-Carbon Efficient Fund (PeCEF) (1)

Sustainable Investment in the U.S.

US$ tril One-third of the total
U.S. assets under
18 17.1 professional
management
16

14 +362% 12.0
12

10 8.7

8 6.6
6
4 3.7

2

0
2012 2014 2016 2018 2020

Source: US SIF: The Forum for Sustainable and Responsible Investment

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 51
or other materials without the prior written consent of Public Mutual Berhad.

Performance of Carbon-efficient Investments

Annualised Carbon-efficient investments
Return (%) provide comparable returns.

16.0 14.7
14.0
12.0 10.8 11.2
10.0 7.9

8.0

6.0

4.0

2.0

0.0

3-Year 1-Year

S&P Global 1200 Index PeCEF's Equity Benchmark Index

Source: Lipper and S&P Dow Jones Indices, LLC., data in MYR terms. Data as at 31 Dec’2020.

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 52
or other materials without the prior written consent of Public Mutual Berhad.

What are Companies Doing? FOR INTERNAL CIRCULATION ONLY 53

Shift towards low-carbon power sources such as
renewable energy
Transition away from incandescent light bulbs and
towards energy-efficient LED

Increasing adoption of electric vehicles (EVs)

Incorporate recycled materials in product
packaging
Encourage changes in employee behaviour that
will reduce carbon emissions such as cycling to
work

All rights reserved. The information published may not be reproduced or copied into another document
or other materials without the prior written consent of Public Mutual Berhad.

Companies Committed to Carbon Neutrality
Google
Amazon
Microsoft
Apple
Nike

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 54
or other materials without the prior written consent of Public Mutual Berhad.

Google 2007 • First major company to be carbon
neutral
Source: Google
2017 • Matched its entire electricity
consumption with renewable energy

2020 • Eliminated its entire legacy carbon
emissions through the purchase of
carbon offsets

2030 • Aims to run all its data centres and
offices on carbon-free energy

2022 • Aims to have the first 10,000
electric delivery vehicles on the road

2025 • Aims to power its operations with
100% renewable energy

Amazon 2030 • 50% of all shipments to be net zero
carbon
Source: Amazon
2040 • Aims to reach net zero carbon
across its businesses

2012 •Implemented an internal carbon fee,
holding its business units financially
accountable for their carbon emissions

2030 • Aims to be carbon negative

Microsoft 2050 •Aims to remove all its legacy carbon
emissions through investment in carbon
Source: Microsoft capture and storage technology, as well
as carbon offsets (reforestation)

2020 •iPhone 12 models were shipped
without charging adaptors and
wired headphones, which led to
smaller packaging that helped
reduce its carbon footprint

Apple 2030 •Aims to be carbon neutral across
its entire business
Source: Apple

2020 •Diverted 99% of footwear manufacturing
waste from landfills

•Diverted more than 1 billion plastic bottles
per year from landfills to create yarns for
new jerseys and uppers for Flyknit shoes

2025 • Aims to power owned-and-operated
facilities with 100% renewable energy

Source: Nike 2030 • Targets to reduce carbon emissions
across its global supply chain by 30%

Target Sectors to Invest

Target Sectors the Fund May Invest in

I. Technology II. Healthcare III. Consumer

These sectors are well-positioned for earnings growth while registering low
carbon emissions or demonstrating a clear carbon reduction strategy.

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 61
or other materials without the prior written consent of Public Mutual Berhad.

I. Technology

Beneficiaries of the new normal:

Online shopping Cloud computing Virtual meetings

Increased demand for Cyber security Gaming
notebooks/PCs

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 62
or other materials without the prior written consent of Public Mutual Berhad.

I. Technology

Long-term growth remains intact, driven by:

New innovations Digitalisation E-commerce

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 63
or other materials without the prior written consent of Public Mutual Berhad.

I. Technology – Enterprise Software

Ongoing digital transformation
initiatives of enterprises

Benefits software companies
specialising in database
software and technology

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 64
or other materials without the prior written consent of Public Mutual Berhad.

I. Technology – 5G Networking

Increasing adoption of 5G Benefits across the 5G
ecosystem

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 65
or other materials without the prior written consent of Public Mutual Berhad.

II. Healthcare

The healthcare sector’s outlook is supported by:

Ageing global demographic

Demand for better healthcare services

Expanding global middle class FOR INTERNAL CIRCULATION ONLY 66

All rights reserved. The information published may not be reproduced or copied into another document
or other materials without the prior written consent of Public Mutual Berhad.

II. Healthcare – Ageing Global Demographic
Population Aged Over 65 in 2023F

Worldwide: > 686 million
(12% of total population)

Japan
(~29% of total population)

Western Europe
(~22% of total population)

Source: 2020 Global Health Care Outlook, Deloitte

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 67
or other materials without the prior written consent of Public Mutual Berhad.

II. Healthcare – Higher Global Healthcare Spending

Estimated to
grow at 5%
per annum

2019 2023F Source: 2020 Global Health Care Outlook, Deloitte

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 68
or other materials without the prior written consent of Public Mutual Berhad.

II. Healthcare – Expanding Global Middle Class

(billion) Estimated to grow at 5.4
6.0 4% per annum

5.0 4.6

4.0 3.8
3.0

3.0

2.0

1.0

0.0 2020F 2025F 2030F
2015

Source: The Unprecedented Expansion of the Global Middle Class, Brookings.

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 69
or other materials without the prior written consent of Public Mutual Berhad.

II. Healthcare – Top 10 Pharma Companies

2019 Total Revenue from Pharmaceutical Segment (US$ billion)

Source: Proclinical

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 70
or other materials without the prior written consent of Public Mutual Berhad.

III. Consumer – Recovery of Consumer Discretionary

Lockdown measures are gradually lifted

Consumer discretionary spending is expected to return

Travel & Hospitality Retailers & Restaurants

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 71
or other materials without the prior written consent of Public Mutual Berhad.

III. Consumer

The Fund may look to invest in consumer companies with:

Globally-recognised brands

Dominant market shares

Strong sustainability strategy in terms
of carbon reduction

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 72
or other materials without the prior written consent of Public Mutual Berhad.

I. Consumer – E-Commerce

Long-term growth from e-commerce remains intact:

E-commerce Penetration Rate

%
30

25%
25

20
15%

15

10

5

0 2025F Source: Market Watch, 2020
2020F

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 73
or other materials without the prior written consent of Public Mutual Berhad.

Market Valuations

Valuations: S&P 500

Premium market valuations

P/E (x) • Rally in tech stocks on positive growth Dec’20:
23.0 prospects from new normal 22.1x

21.0 • Low interest rates Jan-20

19.0

17.0 10-year average*: 16.0x

15.0

13.0

11.0

9.0 Jan-12 Jan-14 Jan-16 Jan-18
Jan-10

*2010-2019 historical average (Source: Bloomberg. Data as at 31 Dec’2020 based on 2021 earnings)

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 75
or other materials without the prior written consent of Public Mutual Berhad.

Valuations: Dow Jones Industrial Average

Premium market valuations

P/E (x) Dec’20:
21.0 20.3x

19.0 Jan-20

17.0
15.0 10-year average*: 15.0x

13.0

11.0

9.0 Jan-12 Jan-14 Jan-16 Jan-18
Jan-10

*2010-2019 historical average (Source: Bloomberg. Data as at 31 Dec’2020 based on 2021 earnings) FOR INTERNAL CIRCULATION ONLY 76

All rights reserved. The information published may not be reproduced or copied into another document
or other materials without the prior written consent of Public Mutual Berhad.

Valuations: Tech-heavy Nasdaq

Premium market valuations

P/E (x) Dec’20:
34.0 31.8x

29.0

24.0 10-year average*: 20.3x
19.0

14.0

9.0 Jan-12 Jan-14 Jan-16 Jan-18 Jan-20
Jan-10

*2010-2019 historical average (Source: Bloomberg. Data as at 31 Dec’2020 based on 2021 earnings) FOR INTERNAL CIRCULATION ONLY 77

All rights reserved. The information published may not be reproduced or copied into another document
or other materials without the prior written consent of Public Mutual Berhad.

Recommended
Investment Approach

Invest for the Long Term

• As valuations of U.S. markets are
currently trading higher than their long-
term averages, investors should invest
for the long term (i.e. for a period of at
least 5 years)

• Be able to ride through market cycles as
well as the short-term volatility of stocks

• Allow time for investments to grow

Practise Ringgit Cost Averaging (RCA)

• Investing a fixed amount on a regular basis
• Particularly important in volatile market conditions

Campaign Period :
9 Feb. – 1 Mar. 2021

PeCEF Campaign 2021

Guaranteed Gift Category
The first 100 new investors* who:

1) Enroll via New Investors Enrolment via Public Mutual’s website during
campaign period, and

2) Invest at least RM3,000 in a single transaction into PeCEF through
online investment during the campaign period.

Receive 300 units of PeCEF!

*New investor is defined as an investor (based on first
holder NRIC and non-repeated) who has never
invested/contributed to Public Mutual before.

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 82
or other materials without the prior written consent of Public Mutual Berhad.

PeCEF Campaign 2021

Lucky Draw Category

All Qualified Investors^ stand a chance to win:

Lucky Draw Prizes

Grand Prize 10,000 units of PeCEF x 1 winner

1st Prize 5,000 units of PeCEF x 3 winners

2nd Prize 3,000 units of PeCEF x 5 winners

How?

=1 Qualified Investor^ 1 Lucky Draw Entry
(New or Existing)

^Qualified Investors refer to investors who:
1) Invest at least RM3,000 in a single transaction into PeCEF.
2) Registered for DDA of at least RM300 per deduction during the campaign period.
3) Has at least one successful DDA deduction by 30 April 2021.

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 83
or other materials without the prior written consent of Public Mutual Berhad.

PeCEF Campaign 2021

Illustrations:

Investor Initial Investment Registered for First DDA Eligible for:
DDA Deduction
Guaranteed Lucky Draw
Register for DDA Gift Entry
of RM300 on
A RM2,500 on 10 Feb ’21 12 Feb ’21 8 March Nil Nil
(New ‘21
(Did not invest minimum
Investor) of RM3,000)

B RM10,000 on 12 Feb ’21 DDA of RM500 on 8 April ’21 Yes 1
(New (10th investor who 20 Feb ’21
Investor) enrolled via New

Investors Enrolment
online & invest at least

RM3,000 via PMO).

C RM9,000 on 15 Feb ‘21 Nil
(New (90th Investor who
Investor) achieved the Did not register for N/A Yes (Did not
requirements). DDA register for

DDA)

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 84
or other materials without the prior written consent of Public Mutual Berhad.

PeCEF Campaign 2021

Illustrations:

Investor Initial Investment Registered for First DDA Eligible for:

DDA Deduction Guaranteed Lucky Draw
Gift Entry

D RM5,000 on 1 Mar ‘21 DDA of Nil
(registered
(New (99th Investor who achieved RM300 on 8 Apr ’21 Yes for DDA after
2 Mar ‘21 campaign
Investor) the requirements).
period)

E RM15,000 on 10 Feb ’21 DDA of 8 Mar. ’21 Nil 1
(Existing RM500 on 18 8 May ‘21 (Only New
Investors who Nil
EPF Feb ’21 fulfilled the (1st DDA was
Investor) requirements
DDA of are eligible) deducted
F RM20,000 on 10 Feb ’21 RM500 on after 30 Apr
1 Mar ’21 Yes
(New (20th Investor who achieved ‘21)

Investor) the requirements).

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 85
or other materials without the prior written consent of Public Mutual Berhad.

PeCEF Campaign 2021

Terms and Conditions:
1. Corporate/institutional investors are not eligible to participate in this

campaign.

2. The prize of PeCEF units will only be given to the first account holder.

3. Winners can win in both categories. For lucky draw category, a winner can
win one prize only, whichever is of higher value.

4. Investor must remain an active unitholder of PeCEF when the lucky draw
is conducted and when the prize units are credited in order to be eligible
to participate in this campaign.

Share with your investors on the New Fund & Campaign NOW!

For more details, please refer to campaign e-flyer at UTC Connect or U@Stor.

All rights reserved. The information published may not be reproduced or copied into another document FOR INTERNAL CIRCULATION ONLY 86
or other materials without the prior written consent of Public Mutual Berhad.

Thank You