Fund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy

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1 Fund Information Fund Name Public Islamic Global Equity Fund () Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the long term period by investing in a diversifi ed portfolio of stocks that complies with Shariah requirements listed on global markets. Fund Performance Benchmark The benchmarks of the Fund and their respective percentages are 90% S&P Global 1200 Shariah Index and 10% 1-Month Islamic Interbank Money Market Rate (1-Month IIMMR). The S&P Global 1200 Shariah Index is a product of S&P Dow Jones Indices LLC ( SPDJI ), and has been licensed for use by Public Mutual Berhad. Standard & Poor s and S&P are registered trademarks of Standard & Poor s Financial Services LLC ( S&P ); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ( Dow Jones ); Standard & Poor s, S&P and Dow Jones are trademarks of the SPDJI; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Public Mutual Berhad. Public Mutual Berhad s is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P Global 1200 Shariah Index. Fund Distribution Policy Incidental Breakdown of Unitholdings of as at 31 March 2018 Size of holdings No. of % of No. of units unitholders unitholders held (million) 5,000 and below 1, ,001 to 10,000 1, ,001 to 50,000 4, ,001 to 500,000 2, ,001 and above Total 10, Note: Excluding Manager s Stock. Fund Performance Total Return for the Following Period Ended 31 March 2018 Total Return of (%) Since commencement -6.40* * The figure shown is for period since Fund commencement (16 October 2017). Note: Average total return is not appropriate as total return for is less than one year. The calculation of the above returns is based on computation methods of Lipper.

2 Fund Performance Fund Performance Notes: 1. Total return of the Fund is derived by this formulae: End of Period FYCurrent Year NAV per ( End of Period FYPrevious Year NAV per unit) (Adjusted for unit split and distribution paid out for the period) The above total return of the Fund was sourced from Lipper. 2. Average total return is derived by this formulae: Total Return Number of Years Under Review Past performance is not necessarily indicative of future performance and unit prices and investment returns may go down, as well as up. Other Performance Data for the Financial Period from 26 September 2017 to 31 March Unit Prices (MYR) Highest NAV per unit for the period Lowest NAV per unit for the period Net Asset Value (NAV) and Units in Circulation (UIC) as at the End of the Period Total NAV (MYR 000) 147,712 UIC (in 000) 630,991 NAV per unit (MYR) Total Return for the Period (%) Capital growth (%) Income (%) - Management Expense Ratio (%) 1.99 Portfolio Turnover Ratio (time) 0.59 Notes: Management Expense Ratio is calculated by taking the total management expenses expressed as an annual percentage of the Fund s average net asset value. Portfolio Turnover Ratio is calculated by taking the average of the total acquisitions and disposals of the investments in the Fund for the period over the average net asset value of the Fund calculated on a daily basis. - 1 Asset Allocation As at 31 March (Percent of NAV) 2018 % EQUITY SECURITIES Quoted Outside Malaysia Australia Consumer, Non-cyclical 1.2 Financial France Consumer, Non-cyclical 1.3 Germany Consumer, Non-cyclical 1.3 Great Britain Consumer, Non-cyclical 4.4 Hong Kong Communications 1.4 Japan Consumer, Non-cyclical 1.0 Industrial Korea Communications 1.7 Consumer, Cyclical 0.8 Technology Netherlands Technology 1.5 Singapore Communications 1.3 Switzerland Consumer, Non-cyclical 4.0 Taiwan Technology 1.9 Thailand Consumer, Non-cyclical 1.8

3 Fund Performance Manager s Report Asset Allocation (cont d) As at 31 March (Percent of NAV) 2018 % United States Basic Materials 1.4 Communications 8.5 Consumer, Cyclical 5.1 Consumer, Non-cyclical 10.1 Energy 4.9 Financial 3.9 Industrial 6.2 Technology TOTAL QUOTED EQUITY SECURITIES 88.1 SHARIAH-BASED PLACEMENTS WITH FINANCIAL INSTITUTIONS 8.2 Overview For the purpose of this fi rst Interim Report, the fi nancial period under review covers the period from its commencement on 16 October 2017 (being the last day of the initial offer period) to 31 March Public Islamic Global Equity Fund ( or the Fund) seeks to achieve capital growth over the long term period by investing in a diversifi ed portfolio of stocks that complies with Shariah requirements listed on global markets. For the fi nancial period under review, the Fund registered a return of -6.40% as compared to its Benchmark s return of -5.59%. The Fund s Shariahcompliant equity portfolio registered a return of -6.16% while its Islamic money market portfolio registered a return of +1.37% during the fi nancial period under review. A detailed performance attribution analysis is provided in the sections below. 4% 2% Performance of from 16 October 2017 (Commencement Date) to 31 March 2018 BENCHMARK OTHER ASSETS & LIABILITIES 3.7 Returns from Start of Period 0% -2% -4% -6% -8% Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 The Benchmark of the Fund is a composite index of 90% S&P Global 1200 Shariah Index and 10% 1-Month Islamic Interbank Money Market (IIMM) rate. Effect of Distribution Reinvestment on Portfolio Exposures There were no distributions declared for the period ended 31 March Change in Portfolio Exposures from 16-Oct-17 to 31-Mar Oct-17 (Commencement Average Date) 31-Mar-18 Change Exposure Shariah-compliant Equities & Related Securities 0.0% 88.1% +88.1% 89.21% Islamic Money Market 100.0% 11.9% -88.1% 10.79%

4 Manager s Report Manager s Report Returns Breakdown by Asset Class Market / Returns On Benchmark Benchmark Average Attributed Investments Returns Index Used Exposure Returns Shariahcompliant Equities & Related Equity Securities -6.16% -6.37% Benchmark 89.21% -5.50% Islamic Money Overnight Market 1.37% 1.37% Islamic Rate 10.79% 0.15% less: Expenses -1.05% Total Net Return for the Period -6.40% Overnight Islamic Rate = Overnight Islamic Interbank Money Market Rate Shariah-compliant Equity Portfolio Review For the fi nancial period under review, the Fund s Shariah-compliant equity portfolio registered a return of -6.16% as compared to the equity Benchmark s return of -6.37%. Following its commencement, the Fund s Shariah-compliant equity exposure was progressively increased to 88.1% by the end of the financial period under review to capitalise on Shariah-compliant investment opportunities in the global markets. Based on an average Shariah-compliant equity exposure of 89.21%, the Fund s Shariah-compliant equity portfolio is deemed to have registered a return of -5.50% to the Fund as a whole for the financial period under review. A full review of the performance of the equity markets is tabled in the following sections. Country Allocation In terms of country allocation within the Shariah-compliant equity portfolio, the top 5 countries accounted for 74.6% of the Net Asset Value (NAV) of the Fund and 84.7% of the Fund s Shariah-compliant equity portfolio. The weightings of the top 5 countries are in the following order: the United States (59.6%), Great Britain (4.4%), Switzerland (4.0%), Japan (3.3%) and Korea (3.3%). Money Market Portfolio Review During the financial period under review, the Fund s Islamic money market portfolio, which was invested primarily in Islamic deposits, yielded a return of +1.37% which is in line with the return generated by the Overnight Islamic Interbank Money Market Rate (Overnight Islamic Rate). Since its commencement, the Fund s exposure to Islamic money market investments was gradually reduced to 11.9% at the end of the fi nancial period under review as funds were mobilised into Shariah-compliant equity investments. Based on an average exposure of 10.79%, the Islamic money market portfolio is estimated to have contributed +0.15% to the Fund s overall return for the fi nancial period under review. Stock Market Review The global equity market, as proxied by the S&P Global 1200 Shariah Index, commenced the fi nancial period under review at 1, points. The Index rose in 4Q 2017 as the U.S. tax reform bill was approved by Congress and subsequently signed into law by President Trump in December Optimism over the impact of the new tax legislation as well as upward corporate earnings revisions bolstered the U.S. equity market in January However, the Index corrected sharply in February 2018 on concerns over inflationary pressures and the prospect of faster-than-expected interest rate hikes in the U.S. The Index slid further in March 2018 amid escalating trade tensions between the U.S. and China. The S&P Global 1200 Shariah Index closed at 1, points in March 2018 to register an increase of 2.18% (-6.27% in Ringgit terms) for the fi nancial period under review. Global markets, namely the Korea, Japan, Taiwan, Thailand, Singapore, U.S., Australia, Netherlands, France, Great Britain, Hong Kong and Germany markets registered returns of +3.62%, -0.25%, -4.06%, -4.80%, -4.86%, -4.98%, -7.47%, -7.54%, -7.61%, -8.65%, % and % (in Ringgit terms) respectively for the fi nancial period under review. Index 1,700 1,650 1,600 1,550 1,500 1,450 Oct-17 S&P Global 1200 Shariah Index (16 October March 2018) Nov-17 Money Market Review Jan-18 Feb-18 Mar-18 The Overnight Islamic Rate commenced the fi nancial period under review at 2.98% and ended the fi nancial period under review higher at 3.15%.

5 Manager s Report Manager s Report Economic Review Led by higher investment spending and export growth, U.S. GDP growth rose from 1.5% in 2016 to 2.3% in Investment spending increased by 3.3% in 2017 compared to a contraction of 1.6% in 2016 due to higher investment in equipment. Likewise, exports expanded by 3.4% compared to a decline of 0.3% over the same period. At the Federal Open Market Committee (FOMC) meeting on March 2018, the Federal Reserve raised the Federal funds rate target range by 25 basis points (bps) from 1.25%-1.50% to 1.50%-1.75%. After declining to 4.1% in February 2018 from 4.4% in 2017, the Federal Reserve projects the unemployment rate to edge lower to 3.6%-3.8% by the end of The U.S. Personal Consumption Expenditures (PCE) inflation rate of 1.7% as at January 2018 remained below the Federal Reserve s target of 2.0%. Meanwhile, the Institute for Supply Management s manufacturing Purchasing Managers Index (PMI) rose to an average of 60.0 points in the fi rst two months of 2018 from 57.4 points in 2017 amid higher new orders and production levels. Eurozone GDP growth gained pace from 1.8% in 2016 to 2.3% in 2017 on the back of higher export growth. At its monetary policy meeting on 8 March 2018, the European Central Bank (ECB) kept its main refinancing and deposit rates at 0.00% and -0.40% respectively. The ECB extended its quantitativeeasing program from January 2018 until at least September However, it reduced the monthly pace of bond-buying from 60 billion to 30 billion with effect from January In a referendum held on 23 June 2016, British voters voted in favour of exiting the European Union (EU). The United Kingdom (UK) formally notified of its exit from the EU under Article 50 on 29 March 2017, which commences a 2-year process of trade negotiations with the EU. In North Asia, China s GDP growth expanded from 6.7% in 2016 to 6.9% in 2017, driven by firmer growth in the services sector. The services sector s growth increased from 7.8% in 2016 to 8.0% in 2017 as wholesale and retail trade picked up. China s infl ation rate climbed to 2.2% in the first two months of 2018 from 1.6% in 2017 amid higher food prices. To support China s economic activities, the People s Bank of China (PBoC) maintained its lending rate at 4.35%. Hong Kong s GDP growth gained pace from 2.1% in 2016 to 3.8% in 2017 due to higher consumer spending and export growth. The infl ation rate fi rmed to 2.4% in the first two months of 2018 from 1.5% in 2017 on the back of higher food prices and housing costs. To curb elevated residential property prices, Hong Kong s government introduced additional tightening measures in May Japan s GDP growth increased from 0.9% in 2016 to 1.7% in 2017 amid fi rmer domestic demand and higher export growth. Led by higher food prices and transportation costs, the inflation rate climbed to 1.4% in the fi rst two months of 2018 from 0.5% in To support economic growth and mitigate deflationary pressures, the Bank of Japan left its interest rate unchanged at -0.1%. Driven by higher consumer and investment spending, South Korea s GDP growth rose to 3.1% in 2017 from 2.9% in The inflation rate eased to 1.2% in the fi rst two months of 2018 from 1.9% in 2017 due to moderating food prices and transportation costs. The Bank of Korea raised its benchmark interest rate by 25 bps to 1.50% in November 2017 from a record low of 1.25%, following a pick-up in economic activities. Taiwan s GDP growth strengthened from 1.4% in 2016 to 2.9% in 2017 amid higher export growth. Taiwan s infl ation rate gained pace to 1.5% in the fi rst two months of 2018 from 0.6% in 2017 on the back of higher food prices and transportation costs. Taiwan s central bank left its discount rate unchanged at 1.375% to support domestic demand. In South-East Asia, Singapore s GDP growth expanded from 2.4% in 2016 to 3.6% in 2017, helped by robust growth in the services sector. Singapore s inflation rate moderated to 0.2% in the fi rst two months of 2018 from 0.6% in 2017 due to easing transportation costs. Led by resilient consumer spending and higher export growth, Thailand s GDP growth increased from 3.3% in 2016 to 3.9% in The infl ation rate edged down to 0.6% in the fi rst two months of 2018 from 0.7% in 2017 amid lower transportation costs. The Bank of Thailand maintained its policy interest rate at 1.50% to support economic growth. Down under, Australia s GDP growth eased from 2.6% in 2016 to 2.3% in 2017 due to moderating private consumption and export growth. To support domestic demand, the Reserve Bank of Australia (RBA) maintained its cash rate at 1.50%. Australia s infl ation rate fi rmed from 1.3% in 2016 to 1.9% in 2017 on the back of higher housing prices and transportation costs. Outlook and Investment Strategy Global and regional equity markets traded on a positive note in January but retraced in February on concerns over the prospect of faster-than-anticipated interest rate hikes in the U.S. Global and regional equity markets declined further in March due to the U.S. government s proposed protectionist measures. While concerns over infl ationary pressures in the U.S. as well as U.S.-China trade tensions may result in volatile market conditions in the near term, the performance of equity markets over the longer term will depend on the economic outlook and market valuations of the U.S., Europe and the Asia Pacifi c region. U.S. economic growth is projected to edge up from 2.3% in 2017 to 2.8% in 2018, driven by higher investment spending on the back of tax reform measures. In the Eurozone, economic growth is envisaged to inch higher from 2.3% in 2017 to 2.4% in 2018 on expectations of firmer export growth. Down under, Australia s economic growth is expected to rise from 2.3% in 2017 to 2.8% in 2018 due to higher investment spending. The fi nancial and insurance services sector should maintain its current growth trajectory as low interest rates continue to underpin housing demand.

6 Manager s Report Extracts Of Financial Statements In North Asia, China s GDP growth is estimated to moderate from 6.9% in 2017 to 6.5% in 2018 as China continues to transform from a manufacturingdriven and export-led economy to one underpinned by services and domestic consumption. Meanwhile, China s inflation rate is projected to increase from 1.6% in 2017 to 2.3% in Hong Kong s GDP growth is expected to ease from 3.8% in 2017 to 3.0% in 2018 amid moderating export growth. Going forward, the Hong Kong government is anticipated to maintain its tightening stance on the residential property market. However, ample liquidity, demand for better living standards and resilient economic growth should lend support to Hong Kong s property market over the long term. Japan s economic growth is projected to edge down from 1.7% in 2017 to 1.3% in 2018 amid moderating consumer spending and export growth. South Korea s GDP growth is anticipated to edge lower from 3.1% in 2017 to 3.0% in 2018 on the back of softer domestic demand. Meanwhile, Taiwan s GDP growth is envisaged to inch down from 2.9% in 2017 to 2.7% in 2018 due to slower export growth. In South-East Asia, Singapore s GDP growth is estimated to ease from 3.6% in 2017 to 3.0% in 2018 on expectations of moderating export growth. Meanwhile, Thailand s GDP growth is envisaged to edge up from 3.9% in 2017 to 4.0% in 2018 amid higher investment spending. Among the regional markets, South-East Asian markets were generally trading at premiums while selected North Asian markets were generally trading at discounts to their historical averages following their respective performances over the same period. Among the developed markets, the U.S. market was trading at a prospective P/E ratio of 16.9x, which was below its 20-year average of 17.3x. Given the above factors, the Fund will continue to rebalance its investment portfolio accordingly with the objective of achieving capital growth over the long term period by investing in a diversified portfolio of stocks that complies with Shariah requirements listed on global markets. Note: Q = Quarter The following pages are extracts of the audited fi nancial statements of the Fund for the fi nancial period from 26 September 2017 to 31 March The full set of the audited financial statements together with the Independent Auditors Report is available upon request without charge. Statement of Assets and Liabilities As at 31 March 2018 MYR 000 Assets Investments 130,157 Due from brokers/fi nancial institutions, net 3,039 Due from the Manager, net 427 Other receivables 179 Shariah-based placements with fi nancial institutions 12,102 Cash at banks 1, ,767 Liabilities Due to the Trustee 8 Other payables Total net assets 147,712 Net asset value ( NAV ) attributable to unitholders (Total equity) 147,712 Units in circulation (in 000) 630,991 NAV per unit (in sen) Policy on Soft Commissions The management company may receive goods or services which include research materials, data and quotation services and investment related publications by way of soft commissions provided they are of demonstrable benefi t to the Fund and unitholders. During the financial period under review, has received data and quotation services by way of soft commissions. These services were used to provide fi nancial data on securities and price quotation information to the Fund Manager during the financial period under review.

7 Extracts Of Financial Statements (cont d) Extracts Of Financial Statements (cont d) Statement of Income and Expenditure MYR 000 Income Profi t from Shariah-based placements 689 Dividend income 880 Net loss from investments (9,347) Net realised/unrealised foreign exchange loss (140) (7,918) Less: Expenses Trustee s fee 41 Management fee 1,228 Audit fee 3 Tax agent s fee 2 Brokerage fee 190 Administrative fees and expenses 95 1,559 Net loss before taxation (9,477) Taxation (197) Net loss after taxation (9,674) Net loss after taxation is made up as follows: Realised (95) Unrealised (9,579) (9,674) Statement of Changes in Net Asset Value Unitholders Accumulated capital loss Total MYR 000 MYR 000 MYR 000 As at 26 September Creation of units 159, ,236 Cancellation of units (1,850) - (1,850) Net loss after taxation - (9,674) (9,674) As at 31 March ,386 (9,674) 147,712

8 Extracts Of Financial Statements (cont d) Statement of Cash Flows MYR 000 Cash flows from operating activities Proceeds from sale of investments 1,396 Purchase of investments (143,794) Maturity of Shariah-based placements 5,675,034 Shariah-based placements (5,687,136) Profi t from Shariah-based placements received 687 Net dividend income received 502 Trustee s fee paid (33) Management fee paid (985) Payment of other fees and expenses (50) Net cash outflow from operating activities (154,379) Cash flows from financing activities Cash proceeds from units created 158,566 Cash paid on units cancelled (1,850) Net cash inflow from financing activities 156,716 Net increase in cash and cash equivalents 2,337 Effect of changes in foreign exchange rates (474) Cash and cash equivalents at the end of the financial period 1,863

Public Islamic Asia Tactical Allocation Fund (PIATAF) Breakdown of Unitholdings of PIATAF as at 30 April 2018

Fund Information Fund Name Public Islamic Asia Tactical Allocation Fund () Fund Category Mixed Asset (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term