FP FORESIGHT UK INFRASTRUCTURE INCOME FUND

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1 FP FORESIGHT UK INFRASTRUCTURE INCOME FUND Targeting annual income of 5% through active management of UK listed renewable energy and infrastructure investment companies. INVESTOR GUIDE This Investor Guide is a financial promotion for the purposes of the Financial Services and Markets Act 2000 and should only be read in conjunction with the FP Foresight UK Infrastructure Income Fund Prospectus published December Your attention is drawn to the important risk warnings contained therein. Words and expressions defined in the Prospectus shall have the same meaning in this Investor Guide. DECEMBER 2017

2 One of the UK s leading independent infrastructure and private equity investment managers Welcome to Foresight. We have been managing investments for private investors and institutions for more than 30 years. It is the combination of our infrastructure and private equity focus and investment management expertise that continues to attract institutional investors from around the world. Today we also manage investments for some 22,000 private investors, with assets under management ( AUM ) currently exceeding 2.7 billion. Our team of experienced investment professionals and portfolio managers covers the UK, North America, Australasia and Southern Europe specialising in renewable energy infrastructure. We have acquired for our investors more than 1.1GW of operational renewable energy generating assets in PV solar, waste-to-energy and onshore wind and we are actively investing in renewable energy enabling technologies like battery storage and reserve power. We launched Foresight Metering in 2016 to finance the roll out of smart meters in the UK working with the major energy distribution companies. We are actively involved in all aspects of the renewable energy and infrastructure sectors. We also know from conversations with institutional investors, financial advisers and private investors that generating a reliable and predictable income, ideally with inflation protection, is often the most important consideration. With the prevailing low interest rates and yields from sovereign and corporate bonds at historical lows, investors have unsurprisingly found the predictable cash flows, uncorrelated and inflation-protected yields from infrastructure assets increasingly attractive. The UK has seen rapid recent growth in the number of infrastructure investment companies with more than 20 now available to investors, amounting to a combined market capitalisation of more than 17 billion. In 2013 we listed our own renewable infrastructure investment company, Foresight Solar Fund Limited (ticker: FSFL) which has grown to become one of the UK s largest solar-focused renewable energy investment companies with more than 620MW of ground-mounted solar assets under management. FSFL counts leading institutional investors Blackrock, Newton and Schroders among its shareholders, attracted by the indexlinked yields and potential for capital growth. FP Foresight UK Infrastructure Income Fund is an Open Ended Investment Company (OEIC), managed by Foresight Group LLP, which will invest in a diversified portfolio of UK listed renewables and infrastructure investment companies. The Fund harnesses our infrastructure investment expertise and taps into this demand for low volatility, predictable indexlinked income. It aims to deliver a 5% annual income, paid through quarterly dividends which when held in an ISA or a SIPP comes tax free. We hope you find the proposition outlined within compelling and would be delighted to welcome you as an investor. Foresight Group

3 Why Infrastructure for Income? Infrastructure assets provide essential services that allow the global economy to function. In the UK, they are broadly split into six sub sectors. Revenues from infrastructure assets are for the most part uncorrelated to global markets and in many cases index-linked offering a degree of inflation protection. In periods of instability and market volatility and when inflationary pressures hit, investors can find the predictable returns attractive. The global and UK energy market is undergoing a once-in-a-lifetime upheaval, opening up opportunities across generation and flexible grid infrastructure such as energy storage, transmission and distribution. As a result, the UK has seen unprecedented growth in renewable energy and infrastructure investment over the last five years that is forecast to continue into the foreseeable future. Much of this investment has come from UK listed renewable energy and infrastructure investment companies, of which there are more than 20 with combined market capitalisation worth more than 17bn. COMPLETED UK INFRASTRUCTURE DEALS BY INDUSTRY % OF VALUE Transport Airports, Rail, Roads Social Schools, Hospitals, Care Utilities Water, Communications 30% Source: Prequin Infrastructure Online Figures do not cast, due to rounding 10% 6% Energy Coal, Nuclear 5% 3% Other 47% Cumulative UK Renewable Only Energy Generation Capacity Actual and Forecast Renewable Energy Solar, Wind, Hydro, Landfill Gas GW, Compound Annual Growth Rate % % CAGR % CAGR Sources: UK Government, Department for Business, Energy and Industrial Strategy, 27 July Department for Energy and Climate Change, Updated Energy and Emissions Projections November Market Cap and Cumulative Number of UK Listed Renewable and Infrastructure Funds GBP, Billions Market Cap Cumulative Number Source: London Stock Exchange

4 FP Foresight UK Infrastructure Income Fund The Fund is actively managed and invests in UK listed renewable energy and infrastructure investment companies with a target annual income of 5% per annum paid out through quarterly dividends. We believe there are five key reasons why investors might wish to consider the FP Foresight UK Infrastructure Income Fund for their portfolio: UK focused The UK has been consistently assessed as one of the top most attractive countries for renewable energy and infrastructure investment. UK listed renewable & infrastructure sector Renewable energy and infrastructure are attractive asset classes as they are characterised by stable and predictable demand, high barriers to entry and long term contracted revenue streams. Attractive returns with lower volatility Over the last five years, UK listed renewable and infrastructure investment companies have delivered superior total returns with substantially lower volatility than the FTSE All Share. Inflation & interest rate protection UK listed renewable energy and infrastructure investment companies frequently benefit from protection against inflation due to the high proportion of underlying asset revenues which are directly linked to inflation. In addition, the spread between listed UK renewable and infrastructure investment companies discount rates and the risk free rate offers a further buffer to interest rate rises. Investment Manager The Fund will be actively managed by Foresight Group, also distributor of the Fund ( Distributor ). Foresight is an award-winning independent infrastructure and private equity investment manager with 2.7bn AUM. TARGETING ANNUAL INCOME OF 5% FUND MANAGER: Jamie Richards, Partner Jamie leads the FP Foresight UK Infrastructure Income Fund investment management team at Foresight with 23 years investment experience. He joined Foresight in 2000 and is a member of the Executive Committee. He has been responsible for more than 1.5 billion of infrastructure investment including origination and structuring, and overseeing the solar, storage and PFI projects in Foresight s portfolio. Prior to joining Foresight Jamie worked at Citibank, Macquarie and PWC in Sydney and London. PAID THROUGH QUARTERLY DIVIDENDS Performance Since 2012, UK listed renewable and infrastructure investment companies have delivered superior total returns than the FTSE All Share as shown in the graph below TOTAL RETURN OF 10K INVESTED OVER THE LAST 5 YEARS GBP 18,000 16,000 14,000 FTSE All Share UK Listed Infra Investment Companies UK Listed Infrastructure Investment Companies A significantly outperformed UK equity markets over five years to August 2017 (the FTSE All Share grew 61.0% compared to 69.74% for UK Listed Infrastructure Investment Companies). 12,000 10,000 8,000 08/ / / / / /2017 The UK Listed Infrastructure Investment Companies index in the chart is a synthetic index which includes investment companies weighted by market cap which were active throughout the full five year period and new entrants from the date the respective fund launched. Source: Bloomberg Data. Notes: A UK Listed Infrastructure Sector is based on all investment companies which Foresight Group considers to fall within the wider Infrastructure sector addressable by the FP Foresight UK Infrastructure Income Fund as determined by the investment policy.

5 Active Management by Foresight A leading award-winning independent infrastructure and private equity investment manager. INFRASTRUCTURE FINANCIER OF THE YEAR GREEN INNOVATION & FINANCE AWARDS 2017 BEST VCT INVESTMENT MANAGER GROWTH INVESTOR AWARDS 2017 BEST IHT PORTFOLIO SERVICE Active managers could have advantages in the public infrastructure asset class. We believe the limited number of managers specializing in global infrastructure stocks has left the universe under researched, creating a less-efficient market that offers ample alphagenerating opportunities for active managers Goldman Sachs TAX-FREE INCOME FOR YOUR SIPP OR ISA AVAILABLE ON LEADING PLATFORMS AND WRAP PROVIDERS TAX EFFICIENCY AWARDS strong infrastructure team 120 energy infrastructure investments Installed capacity of more than 1.3GW clean electricity Enough to power 630,000 UK homes every year 1.2GW from 100+ solar power plants globally 130MW from 28 bioenergy plants in the UK with substantially lower volatility ANNUALISED STANDARD DEVIATION A,B 5 YEARS...resulting in a highly attractive risk adjusted rate of return. ANNUALISED SHARPE RATIO A,B 5 YEARS UK Listed Infrastructure Investment Companies 4.9% UK Listed Infrastructure Investment Companies 2.21 UK Bonds 6.2% FTSE All Share 0.79 FTSE All Share 13.1% UK Bonds 0.75 Standard Deviation: Standard deviation is a statistical measurement which indicates the historical volatility by measuring the variance between each price and the mean price. The greater the percentage variance, the larger the price changes and therefore the greater volatility. Sharpe Ratio: The Sharpe Ratio is the industry standard for calculating risk-adjusted returns and is often used to evaluate the performance of a portfolio. The ratio describes the excess return the portfolio receives for the extra volatility endured for holding a risker asset. A ratio of 2+ is considered to represent an attractive risk-adjusted rate of return. Notes: B UK Bonds data taken from Bloomberg Barclays Sterling Aggregate Return Value Unhedged GBP, a broad-based benchmark that measures the investment grade, sterling denominated, fixed-rate bond market, including treasuries, government related, corporate and securitised issues. All charts as at 31 August 2017

6 Details of the Fund Fund Name: Regulatory Status: IA Sector: Fund Structure: Share Classes: FP Foresight UK Infrastructure Income Fund FCA Authorised UK Equity Income A sub-fund of FP Foresight OEIC, a UK open-ended investment company ( OEIC ) Income & Accumulation Minimum Investment: Lump Sum: 1,000 + subsequent increments of 500 Ongoing Charges (OCF): 0.65% Regular Savings: 100 per month Fund price at launch: 100p Expected annual yield: 5% Distributions: Income: Quarterly from 31 October 2018 (Jan, Apr, Jul, Oct) Accumulation: Reinvested Currency: Authorised Corporate Director ( ACD ): Investment Manager: Suitable for: Platforms: Next steps: GBP Fund Partners Limited ( Fund Partners ) Foresight Group LLP ( Foresight Group ) has been appointed investment manager to the ACD in respect of the OEIC ( Fund Manager ) Direct Investors, SIPPs, ISAs, Charities, Offshore Bonds AJ Bell, Transact, Zurich, Novia, Suffold Life, Pershing, Raymond James, 7IM, Canada Life (More coming soon) If interested in investing in or finding out more about FP Foresight UK Infrastructure Income Fund, we recommend you talk to your broker or financial adviser, visit our website where you will find the latest share price and can download copies of fund factsheets, the Investor Presentation and Prospectus, and the Key Investor Information Document (KIID) or for more information contact: Private Investors: salesteam@foresightgroup.eu or call Institutional Investors: institutionalsales@foresightgroup.eu or call IMPORTANT INFORMATION This Investor Guide has been approved as a financial promotion for the purposes of Section 21 of the Financial Services and Markets Act 2000 by Foresight Group LLP ( Foresight Group ). Foresight is authorised and regulated by the Financial Conduct Authority. Its registered office is The Shard, 32 London Bridge Street, London, SE1 9SG (FCA number ). Foresight Group is a subsidiary undertaking of Foresight Group CI Limited ( Foresight CI ), a private company registered in Guernsey (registered number 51471). Its registered office is Ground Floor, Dorey Court, Admiral Park, St Peter Port, Guernsey, GY1 2HT. Foresight CI, Foresight Group and their subsidiary undertakings and associated companies are freferred to herein as Foresight. FP Foresight UK Infrastructure Income Fund ( the Fund ) is an open-ended investment company incorporated with limited liability and registered in England and Wales under registered number IC and is a UCITS scheme. Fund Partners Limited is the authorised corporate director of the Fund and Foresight Group is the investment manager. We recommend investors seek professional advice before deciding to invest. Investors must read the Fund Prospectus ( Prospectus ) and Key Investor Information Document ( KIID ), dated December 2017, before making an investment decision. These documents are available at www foresightgroup.eu. Particular attention should be paid to the risk factors set out in the Fund Prospectus. Words and expressions defined in the Prospectus shall have the same meaning in this Investor Guide. Foresight does not offer investment or tax advice. The value of an investment in the Fund, and any income from it, can fall as well as rise. Investors may not get back the full amount they invest. Past performance is not a reliable indicator of future results. Personal opinions may change and should not be seen as advice or a recommendation. There are a number of other risks connected to an investment in the Fund, including (but not limited to) counterparty risk, liquidity risk and derivatives and volatility. These risks are explained in the Fund Prospectus. Shares in the Fund have been in issue for less than a year, so the Fund does not have any historical performance data. The Fund will focus on the UK infrastructure sector only and will have a less diverse portfolio than the average OEIC. Infrastructure companies may be subject to factors that may adversely affect their performance. The Fund may be suitable for investors seeking exposure to the infrastructure asset class with a UK focus. An investor should be willing to invest for the medium to long term (five years) to gain access to a portfolio managed in accordance with an investment objective and policy which targets income from infrastructure assets. Investors must be prepared to accept fluctuations in the value of capital including possible capital loss and accept the risks of investing in equity markets. Capital is at risk. December 2017