You will be pleased to note that the merger of the scheme(s) as aforesaid is expected to result in the following benefits:

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1 April 17, 2018 Dear Valued Unitholder, Re: Merger of Aditya Birla Sun Life Tax Savings Fund, An Open Ended Equity Linked Savings Scheme (Lock in period of 3 years) into the Aditya Birla Sun Life Tax Relief 96, an Open ended Equity Linked Savings Schemes (ELSS) with a lock-in of 3 years Thank you for choosing Aditya Birla Sun Life Mutual Fund ( the Fund ) as your investment partner. We truly appreciate your trust in us. In line with this philosophy, we are writing to inform you that Aditya Birla Sun Life Tax Savings Fund, an Open Ended Equity Linked Savings Scheme (Lock in period of 3 years), ( Merging Scheme ) will be merged into the Aditya Birla Sun Life Tax Relief 96, an Open ended Equity Linked Savings Schemes (ELSS) with a lock-in of 3 years. ( Surviving Scheme ). This merger has been approved by the Board of Directors of Aditya Birla Sun Life AMC Limited (ABSLAMC) and Aditya Birla Sun Life Trustee Private Limited. Securities Exchange Board of India (SEBI) vide its letter no. IMD/DF3/OW/P/2017/2017/24153/1 dated October 04, 2017 has conveyed it s no objection for the aforesaid merger. You will be pleased to note that the merger of the scheme(s) as aforesaid is expected to result in the following benefits: Expands the investment horizon of the Schemes; Removal of overlapping of the schemes resulting in simplification of the choices and better clarity to the investors; Streamlining the management of these schemes; and Facilitate growth in assets and number of investors of Aditya Birla Sun Life Tax Relief 96. The Surviving Scheme i.e. Aditya Birla Sun Life Tax Relief 96 is open-ended equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfolio with a target allocation of 80% equity, 20% debt and money market securities. The record date for the proposed merger is Monday, May 21, 2018 ( Effective Date ). The scheme features and latest portfolios of Aditya Birla Sun Life Tax Savings Fund and Aditya Birla Sun Life Tax Relief 96 are given in Annexure I & II respectively. For further details on both Merging and Surviving Schemes, Unitholders are requested to refer Scheme Information Document and Key Information Memorandum which is available on our website For Performance of Merging Scheme and Surviving Scheme please refer Annexure III. Further, for details of Non-Performing Assets (NPAs) and illiquid assets to net assets please refer Annexure IV. Pursuant to SEBI Circular No. SEBI/MFD/CIR No.5/12031/03 dated June 23, 2003, the merger of Aditya Birla Sun Life Tax Savings Fund with Aditya Birla Sun Life Tax Relief 96 will be treated as change in fundamental attributes of Aditya Birla Sun Life Tax Savings Fund. In terms of prevailing regulatory requirements, unitholders of the Merging Scheme are given an option to exit i.e. redeem their units or switch to any other scheme(s) of Aditya Birla Sun Life Mutual Fund ( the Fund ) by submitting request for redemption or switch to any of existing schemes of the Fund at the prevailing NAV without payment of exit load during exit option period from April 19, 2018 till May 18, 2018 (both days inclusive and upto 3.00 pm on May 18, 2018) at designated Official Points of Acceptance of Transactions of the Fund. Unit holders who hold the units of Merging Scheme in electronic (demat) mode need to submit the redemption request to their Depository Participant. Redemption / Switch requests received after 3.00 p.m. on May 18, 2018 will not be considered for redemption and units will be allotted in Surviving Scheme at applicable NAV of corresponding plans/options of Aditya Birla Sun Life Tax Relief 96 on Effective Date. The redemption proceeds shall be despatched within 10 business days of receipt of valid redemption request to those unitholders who choose to exercise their exit option. The requirement of minimum application amount for fresh subscription of units as applicable for the Surviving Scheme shall not be applicable in respect of units allotted to the unitholders of the Merging Scheme on account of merger. 1

2 Consequently, upon the merger of schemes, the unitholders shall be allotted units under the corresponding Plan/Option/Facility under Surviving Scheme as per matrix provided below: Units held under following Option / Facility in Regular / Direct Plan of the Merging scheme Dividend Payout Growth Bonus 2 Units shall be allotted under following Option / Facility in Regular / Direct Plan in Surviving scheme Dividend Payout The exit option will not be available to unitholders who have pledged or encumbered their units in the Merging Scheme and the Fund has marked pledge / lien on units in its record unless the release of pledge / lien is obtained and communicated to the Fund / Registrar, Computer Age Management Services Pvt. Ltd. before submitting redemption / switch-out requests. The exit offer is not available to unitholders of the Surviving Scheme since there is no change in the fundamental attributes of the Surviving Scheme. This offer to exit from Aditya Birla Sun Life Tax Savings Fund is merely an option and not a compulsion. Unitholders who do not exercise the exit option on or before May 18, 2018 would be deemed to have consented to the proposed merger and will be allotted units under the respective plans/options of the Surviving Scheme at the NAV declared as on the close of business hours on Effective Date and fresh Account Statement reflecting units in Surviving Scheme will be issued to you. Growth Basis of allotment of units in Surviving Scheme pursuant to merger is explained as follows: Assumed NAV on Effective Date Aditya Birla Sun Life Tax Savings Fund Aditya Birla Sun Life Tax Relief 96 Units Held by Resident Investor Valuation of holding of units on Record date Securities Transaction 0.001% Net Amount to be invested in Aditya Birla Sun Life Tax Relief 96 Assumed NAV on Record Date Units to be allotted on merger Valuation of holding of units on Effective date (Rs.) Nos. (Rs.) (Rs.) (Rs.) (Rs.) Nos. (Rs.) (A) (B) (A*B)=C D E F (E/F)=G (F*G)=H 24 1, , Nil* 24, (24,000/300) *Securities Transaction Tax w.r.t. units of Merging scheme, if any, on account of merger would be borne by ABSLAMC. 24, The Finance Act, 2016 amended Section 47 so as to include clause (xix) which provides that any transfer of unit or units by a unit holder held by him in the Consolidating Plan of a mutual fund scheme, will not be treated as transfer, if the transfer is made in consideration of the allotment to him of unit or units in the Consolidated Plan of that mutual fund scheme under the process of consolidation of the schemes of mutual fund in accordance with the SEBI (Mutual Funds) Regulation, 1996 and accordingly capital gains will not apply. As per the amendments, allotment of units in Surviving Scheme, pursuant to merger, to Unit holders of Merging Scheme who decide to continue will not be considered as redemption of Units in Merging Scheme and will not result in short term / long term capital gain / loss in the hands of the unit holders. Further, the cost of acquisition of units allotted in Surviving Plan (Consolidated Plan) pursuant to merger or consolidation of plans of a mutual fund scheme will be the cost of acquisition of units in Transferor Plan (Consolidating Plan). However redemption of units from Merging Scheme and/or switch-out of units of Merging Scheme to any other schemes of the Fund during exit window shall be considered as redemption in Merging Scheme and will result in short term / long term capital gain / loss in the hands of the Unit holders depending on the period of holding of the investment. In case of NRI investors, TDS shall be deducted in accordance with the applicable Tax laws, upon exercise of exit option and the same would be required to be borne by such investor only. Further there would be no Securities Transaction Tax on allotment of units in Surviving Scheme pursuant to merger to unit holder who decide to continue. In view of individual nature of tax implications, unitholders are advised to consult their tax advisors Brief note giving tax implication on merger of schemes are given in Annexure V Following provisions would be applicable Post-merger: The date of allotment at the time of subscription in Merging Scheme shall be considered as the allotment date for the purpose of applicability of exit load period at the time of redemption / switch out of such units in Surviving scheme. In case the lien is marked on the units held in the Merging Scheme and such unitholder decides to continue to remain invested (i.e. does not submit redemption / switch-out request during exit option period), then the units allotted in Surviving Scheme pursuant to merger will also be automatically subject to lien in Surviving Scheme post-merger In case of Unitholders who are holding units of Merging Scheme in electronic (demat) mode and who don t submit redemption / switch-out request during the exit option period, such units of Merging Scheme will be extinguished from their demat account and proportionate units of the Surviving Scheme will be credited to their demat account after the Effective Date (refer Annexure VI for ISIN details).

3 The details of unclaimed redemption and dividend relating to Aditya Birla Sun Life Tax Savings Fund as on March 31, 2018 is enclosed (refer Annexure VII for details). Unitholders should note that after the merger, amounts relating to unclaimed redemption and dividend will be transferred in the name of the Surviving scheme i.e. Aditya Birla Sun Life Tax Relief 96 Cut off timing for NAV applicability for redemption and switch-out: In respect of valid redemption/switch out requests received at a designated Official Points of Acceptance of Transaction of the Fund upto 3.00 p.m. on a Business Day, the NAV of the day of receipt of application shall be applicable and in respect of application received after 3.00 p.m., the NAV of the next Business Day will be applicable. CONTACT US If you have any further queries regarding your investments you can Write in at care.mutualfunds@adityabirlacapital.com Visit your nearest Investor Service Centres (ISCs). To locate your nearest ISC we request you to visit Thanking you once again and looking forward to a long and enduring relationship. For Aditya Birla Sun Life AMC Ltd. (Investment Manager for Aditya Birla Sun Life Mutual Fund) sd/- Authorised Signatory 3

4 Annexure I The scheme features of Aditya Birla Sun Life Tax Savings Fund (Merging Scheme) and Aditya Birla Sun Life Tax Relief 96 (Surviving Scheme) are as follows: Name of the Scheme Aditya Birla Sun Life Tax Savings Fund Aditya Birla Sun Life Tax Relief 96 Type of the Scheme Suitable for investors who are seeking * An Open Ended Equity Linked Savings Scheme (Lock in period of 3 years) investment in equity linked savings scheme (lock in period of 3 years) which aims to provide medium to long term capital appreciation along with income tax rebate investment predominantly in equity and equity related securities An Open ended Equity Linked Savings Scheme with a statutory lock in of 3 years and tax benefit long term capital growth investments in equity and equity related securities, with tax benefit under section 80C, subject to eligibility *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Investment Objective Asset allocation and Investment Pattern Aditya Birla Sun Life Tax Savings Fund is an open ended equity linked savings scheme which aims to provide medium to long term growth of capital along with income tax rebate. There can be no assurance that the investment objective of the Scheme will be realized. Instruments Equity and equity related securities PSU Bonds / Debentures* Money Market Instruments Indicative allocations ( % of total assets) Maximum Minimum Risk Profile High 20 0 High 20 0 Low to Medium * Including Securitised debt of upto 20% of corpus of the scheme The above percentages will be reckoned at the time of investment and the above allocation is based on a steady state situation. It shall be ensured that funds of a scheme shall remain invested to the extent of at least 80 percent in equity and equity related securities. In exceptional circumstances, this requirement may be dispensed with by the Scheme, in order that the interests of the investors are protected. Pending investment of funds of a Scheme in the required manner, the Scheme may invest the funds in short-term money market instruments or other liquid instruments or both. After three years of the date of allotment of the units, the scheme may hold up to 20 percent of net assets of the plan in short-term money market instruments and other liquid instruments to enable them to redeem investment of those unit holders who would seek to tender the units for repurchase. An open ended equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfolio with a target allocation of 80% equity, 20% debt and money market securities. Instrument Equity and equity related Instruments Debt and Money Market Instruments (including securitised debt) Target Allocation Allocation Range 80% % 20% 0-20% The Fund Manager will review the portfolio for adherence with the above asset allocation patterns and rebalance them within 30 days to conform to the above limits. From time to time it is possible that the portfolio may hold cash. The Scheme may also enter into repurchase and reverse repurchase obligations in all securities held by it as per the guidelines and regulations applicable to such transactions. Further the Scheme intends to participate in securities lending as permitted under the SEBI (MF) Regulations, Investments may be made in listed or unlisted instruments. Securities may be listed on any of the recognised Indian stock exchanges including the National Stock Exchange and the OTCEI. Investments may be made as secondary market purchases, initial public offers, private placements, negotiated investments, rights offers, etc. The Mutual Fund under this Scheme may invest in nonpublicly offered debt securities (including convertible securities). The investments may have tenors that could be short-term (i.e. less than one year) or long-term 4

5 Name of the Scheme Aditya Birla Sun Life Tax Savings Fund Aditya Birla Sun Life Tax Relief 96 The fund managers will follow an active investment strategy taking defensive / aggressive postures depending on opportunities available at various points of time. On defensive considerations, the Scheme may invest in money market instruments and Fixed Deposits of Scheduled Banks to protect the interest of the investors in the scheme. Subject to Regulations, the asset allocation pattern indicated above may change from time to time, keeping in view market conditions, opportunities and political & economic factors. It must be clearly understood that the percentages stated above are only indicative and not absolute and that they can vary substantially depending upon the perception of the AMC, the intention being at all times to seek to protect the interests of the Unit holders. Such changes in the investment pattern will be for short term and defensive considerations. (i.e. greater than one year). The Scheme reserves the right to invest in newer investment products including foreign securities (i.e. offshore investments) subject to approval of the Trustee Company and in compliance with the applicable SEBI Regulations. The Scheme intends to invest in ADR/GDR of Indian companies subject to a limit based on the net assets of the Mutual Fund in accordance with SEBI Guidelines issued from time to time The portion of the Scheme s portfolio invested in each type of security will vary in accordance with economic conditions, the general level of stock prices, interest rates and other relevant considerations, including the risks associated with each investment. The Scheme will, in order to reduce the risks associated with any one security, utilize a variety of investments and performance will depend on the Asset Management Company s ability to assess accurately and react to changing market conditions. Not more than 5% of the net assets of the Scheme may be invested in equity and equity-related securities that are not listed on any stock exchange (including the OTCEI). Any such investments will only be made if the Asset Management Company believes that such securities may be listed within a two-year period. This policy, however, is not applicable to the Scheme s acquisition of equity and equity related securities in initial public offerings that at the time of acquisition are not yet either listed or quoted on any stock exchange, but pursuant to the terms of such initial public offering will be so listed. The Mutual Fund under this Scheme, will not invest more than 10% of its net assets in the debt (including non-publicly offered debt securities) and money market securities of any one issuer excluding call money. Upto 5% of the Scheme s net assets may be invested in unlisted equity and equity-related securities as stated in the previous paragraph. Further, since a significant section of the debt market consists of non-publicly offered debt securities, the Scheme could invest upto 20% of its net assets (i.e. its entire allocation to debt and money market securities) in non- publicly offered debt securities. Notwithstanding the foregoing investment policies for the scheme, for temporary defensive purposes (e.g., during periods in which the Asset Management Company believes changes in the securities market or economic or other conditions warrant), the scheme may invest in Indian Government T-Bills and hold cash or cash equivalents and other money market instruments. The Trustee of the Mutual Fund may from time to time alter these limitations in conformity with the SEBI (MF) Regulations, 1996 and other guidelines or notifications that may be issued by SEBI. 5

6 Name of the Scheme Aditya Birla Sun Life Tax Savings Fund Aditya Birla Sun Life Tax Relief 96 Investment Strategy The fund managers will follow an active investment strategy taking defensive / aggressive postures depending on opportunities available at various points of time. On defensive considerations, the Scheme may invest in money market instruments and Fixed Deposits of Scheduled Banks to protect the interest of the investors in the Scheme Benchmark S&P BSE 100 S&P BSE 200 Inception date March 28, 2004 March 29, 1996 A combination of the top down approach and bottom up approach will be followed in the stock selection process. The top down approach will focus on an analysis of macroeconomic factors, economic changes & trends, key policy changes, infrastructure spending, etc. The bottomup approach would seek to identify companies with high profitability and scalability supported by sustainable competitive advantage. Portfolio Turnover The scheme has no explicit constraints either to maintain or limit the portfolio turnover. Portfolio turnover will depend upon the circumstances prevalent at any time and would also depend on the extent of volatility in the market and inflows/outflows in the scheme. The Fund Manager will however endeavour to maintain a low portfolio turnover rate. Entry Load Exit Load Recurring Expenses Fund Manager NIL NIL As per Regulation 52(6)(c)(i) of SEBI (MF) Regulations, the total expenses of the Schemes, including Investment Management and Advisory Fees, shall be subject to following limits as specified below: First Rs. 100 Crs Next Rs. 300 Crs Next Rs. 300 Crs Over Rs. 700 Crs 2.50% 2.25% 2.00% 1.75% Further, as per Regulation 52(6)(b) of SEBI (MF) Regulations, in case of an index fund scheme, the total expenses of the scheme including the investment management and advisory fees shall not exceed one and one half percent (1.5%) of the daily net assets; In addition to total expense permissible within limits of Regulation 52(6)(c)(i) and (b) of SEBI (MF) Regulations as above, the AMC may charge the following to the scheme in terms of Regulation 52(6A) of SEBI (MF) Regulations. (a) Additional expenses not exceeding of 0.30% of daily net assets may be charged to the Scheme, if the new inflows from beyond top 30 cities* are at least (i) 30% of gross new inflows in the scheme or (ii) 15% of the average assets under management (year to date) of the scheme, whichever is higher. In case inflows from beyond such cities is less than the higher of (i) or (ii) mentioned above, such additional expense on daily net assets of the scheme shall be charged on proportionate basis in accordance with SEBI Circular no. CIR/IMD/DF/21/2012 dated September 13, The expense so charged shall be utilised for distribution expenses incurred for bringing inflows from such cities. However, the amount incurred as expense on account of inflows from such cities shall be credited back to the scheme in case the said inflows are redeemed within a period of one year from the date of investment. *Beyond Top 30 (B30) cities shall mean beyond top 30 cities based on Association of Mutual Funds in India (AMFI) data on AUM by Geography - Consolidated Data for Mutual Fund Industry as at the end of the previous financial year. (b) Brokerage and transaction costs incurred for the execution of trades and included in the cost of investment, not exceeding 0.12 per cent of the value of trades in case of cash market transactions and 0.05 per cent of the value of trades in case of derivatives transactions. Thus, in terms of SEBI circular CIR/IMD/DF/24/2012 dated November 19, 2012, it is hereby clarified that the brokerage and transaction costs incurred for the execution of trades may be capitalized to the extent of 0.12 per cent of the value of trades in case of cash market transactions and 0.05 per cent of the value of trades in case of derivatives transactions. Any payment towards brokerage and transaction costs (including service tax, if any) incurred for the execution of trades, over and above the said 0.12 per cent and 0.05 per cent for cash market transactions and derivatives transactions respectively may be charged to the scheme within the maximum limit of Total Expense Ratio (TER) as prescribed under Regulation 52 of the SEBI (MF) Regulations. Mr. Ajay Garg 6

7 Name of the Scheme Aditya Birla Sun Life Tax Savings Fund Aditya Birla Sun Life Tax Relief 96 Liquidity Minimum Application Amount/ Number of Units Plans/ Options and Default Plan/ Option/ Facility The investments shall be locked in for a period of 3 years from the date of allotment. The Schemes will offer for purchase/switch-in and redemption/ switch-out of units at NAV based prices on every Business Day on an ongoing basis. The Mutual Fund shall dispatch the Redemption proceeds within 10 working days from the date of acceptance of the Redemption request. N.A. Scheme closed for fresh subscriptions. Additional Purchase/ Repurchase: In multiples of `1/- or units (Subject to completion of the 3 years lockin period from the date of allotment). Plans offered under the Scheme: The Scheme shall offer Regular Plan and Direct Plan with a common portfolio and separate NAVs. Options/Facility offered under Regular and Direct Plan: Dividend (Payout) Growth Default Plan: The Scheme will offer for purchase/ switch-in and redemption/switch-out of units at NAV based prices on every Business Day on an ongoing basis. The Mutual Fund shall dispatch the Redemption proceeds within 10 working days from the date of acceptance of the Redemption request Purchase (including Switch-in): ` 500/- Additional Purchase (including Switch-in): ` 500/- Purchase/ Additional Purchase / Repurchase: In multiples of ` 1/- or units Plans offered under the Scheme: The Scheme shall offer Regular Plan and Direct Plan with a common portfolio and separate NAVs. Options/Facility offered under Regular and Direct Plan Dividend (Payout & Sweep) Growth Default Option: Dividend Payout Investors are requested to note the following scenarios for the applicability of Direct Plan or Regular Plan for valid applications received under the Scheme: Scenario Broker Code mentioned by the investor Plan mentioned by the investor 1 Not mentioned Not mentioned Direct Plan 2 Not mentioned Direct Direct Plan 3 Not mentioned Regular Direct Plan 4 Mentioned Direct Direct Plan 5 Direct Not Mentioned Direct Plan 6 Direct Regular Direct Plan 7 Mentioned Regular Regular Plan 8 Mentioned Not Mentioned Regular Plan Default Plan to be captured Number of Folios (As on March 31, 2018) Assets Under Management (Rs. In Crores) (As on March 31, 2018) Actual expenses charged (in %) as on March 31, 2018 (annualized) 6,838 9,00,156 Rs crores Rs. 5, crores Regular Plan 2.84% Regular Plan 2.23% Direct Plan 2.53% Direct Plan 1.08% 7

8 Annexure II ADITYA BIRLA SUN LIFE TAX RELIEF 96 (An Open Ended Equity Linked Savings Scheme (ELSS)) Portfolio as on March 31, 2018 Name of the Instrument ISIN Industry^ Quantity Market/Fair Value % to Net Assets (Rs. in Lacs) Equity & Equity related (a) Listed / awaiting listing on Stock Exchanges Sundaram Clayton Limited INE105A01035 Auto Ancillaries 749,614 36, % Honeywell Automation India Limited INE671A01010 Industrial Capital Goods 209,583 35, % Gillette India Limited INE322A01010 Consumer Non Durables 536,957 35, % Bayer Cropscience Limited INE462A01022 Pesticides 708,260 29, % Reliance Industries Limited INE002A01018 Petroleum Products 3,378,411 29, % Thomas Cook (India) Limited INE332A01027 Services 9,224,517 26, % Johnson Controls Hitachi Air Conditioning India Limited INE782A01015 Consumer Durables 1,023,742 25, % Pfizer Limited INE182A01018 Pharmaceuticals 1,028,741 22, % GlaxoSmithKline Pharmaceuticals Limited INE159A01016 Pharmaceuticals 963,295 20, % Shoppers Stop Limited INE498B01024 Retailing 3,330,578 17, % Biocon Limited INE376G01013 Pharmaceuticals 2,655,532 15, % Kotak Mahindra Bank Limited INE237A01028 Banks 1,457,649 15, % ICRA Limited INE725G01011 Finance 409,602 14, % MRF Limited INE883A01011 Auto Ancillaries 16,705 12, % Zee Entertainment Enterprises Limited INE256A01028 Media & Entertainment 1,978,275 11, % Maruti Suzuki India Limited INE585B01010 Auto 120,409 10, % Shree Cements Limited INE070A01015 Cement 65,824 10, % Jet Airways (India) Limited INE802G01018 Transportation 1,692,232 10, % IndusInd Bank Limited INE095A01012 Banks 562,963 10, % Bosch Limited INE323A01026 Auto Ancillaries 53,270 9, % Capital First Limited INE688I01017 Finance 1,437,203 8, % HDFC Bank Limited INE040A01026 Banks 461,145 8, % Housing Development Finance Corporation Limited INE001A01036 Finance 454,295 8, % Century Textiles & Industries Limited INE055A01016 Cement 650,269 7, % Yes Bank Limited INE528G01027 Banks 2,422,226 7, % Larsen & Toubro Limited INE018A01030 Construction Project 539,115 7, % ICICI Bank Limited INE090A01021 Banks 2,254,092 6, % Grasim Industries Limited INE047A01021 Cement 577,991 6, % Tata Consultancy Services Limited INE467B01029 Software 207,046 5, % Hindustan Unilever Limited INE030A01027 Consumer Non Durables 426,207 5, % Kansai Nerolac Paints Limited INE531A01024 Consumer Non Durables 1,122,957 5, % Procter & Gamble Hygiene and Health Care Limited INE179A01014 Consumer Non Durables 54,419 5, % Bata India Limited INE176A01028 Consumer Durables 679,249 4, % Axis Bank Limited INE238A01034 Banks 882,422 4, % HCL Technologies Limited INE860A01027 Software 312,259 3, % Cummins India Limited INE298A01020 Industrial Products 427,015 2, % Infosys Limited INE009A01021 Software 232,176 2, % Tata Motors Limited INE155A01022 Auto 763,263 2, % Bharat Financial Inclusion Limited INE180K01011 Finance 182,181 1, % Sun Pharmaceutical Industries Limited INE044A01036 Pharmaceuticals 366,168 1, % Ashok Leyland Limited INE208A01029 Auto 1,180,709 1, % ITC Limited INE154A01025 Consumer Non Durables 669,947 1, % Vedanta Limited INE205A01025 Non - Ferrous Metals 526,072 1, % 8

9 ADITYA BIRLA SUN LIFE TAX RELIEF 96 (An Open Ended Equity Linked Savings Scheme (ELSS)) Portfolio as on March 31, 2018 Name of the Instrument ISIN Industry^ Quantity Market/Fair Value % to Net Assets (Rs. in Lacs) Mahindra & Mahindra Limited INE101A01026 Auto 162,282 1, % Aditya Birla Capital Limited INE674K01013 Finance 713,153 1, % Container Corporation of India Limited INE111A01017 Transportation 74, % IDFC Limited INE043D01016 Finance 1,325, % Bharat Bijlee Limited INE464A01028 Industrial Capital Goods 41, % United Breweries (Holdings) Limited INE696A01025 Finance 1,438, % Sub Total 515, % (b) Unlisted Magnasound (I) Limited ** # Miscellaneous 3, $0.00% Sub Total 0.00 $0.00% Total 515, % Others CBLO / Reverse Repo Clearing Corporation of India Ltd 32, % Sub Total 32, % Total 32, % Net Receivables / (Payables) 4, % GRAND TOTAL 552, % ** Thinly Traded / Non Traded Security # Unlisted Security $ Less Than 0.01% of Net Asset Value ^Industry classification as recommended by AMFI and wherever not available, internal classification has been used 9

10 Annexure II ADITYA BIRLA SUN LIFE TAX SAVINGS FUND (An Open Ended Equity Linked Savings Scheme) Portfolio as on March 31, 2018 Name of the Instrument ISIN Industry Quantity Market/Fair Value % to Net Assets (Rs. in Lacs) Equity & Equity related (a) Listed / awaiting listing on Stock Exchanges Sundaram Clayton Limited INE105A01035 Auto Ancillaries 4, % Honeywell Automation India Limited INE671A01010 Industrial Capital Goods 1, % Gillette India Limited INE322A01010 Consumer Non Durables 2, % Bayer Cropscience Limited INE462A01022 Pesticides 3, % Johnson Controls Hitachi Air Conditioning India Limited INE782A01015 Consumer Durables 5, % Thomas Cook (India) Limited INE332A01027 Services 43, % Reliance Industries Limited INE002A01018 Petroleum Products 13, % Pfizer Limited INE182A01018 Pharmaceuticals 5, % GlaxoSmithKline Pharmaceuticals Limited INE159A01016 Pharmaceuticals 4, % Biocon Limited INE376G01013 Pharmaceuticals 14, % Shoppers Stop Limited INE498B01024 Retailing 16, % ICRA Limited INE725G01011 Finance 2, % Kotak Mahindra Bank Limited INE237A01028 Banks 7, % MRF Limited INE883A01011 Auto Ancillaries % Zee Entertainment Enterprises Limited INE256A01028 Media & Entertainment 9, % Maruti Suzuki India Limited INE585B01010 Auto % IndusInd Bank Limited INE095A01012 Banks 2, % Jet Airways (India) Limited INE802G01018 Transportation 8, % Bosch Limited INE323A01026 Auto Ancillaries % HDFC Bank Limited INE040A01026 Banks 2, % Housing Development Finance Corporation Limited INE001A01036 Finance 2, % Yes Bank Limited INE528G01027 Banks 12, % Larsen & Toubro Limited INE018A01030 Construction Project 2, % Century Textiles & Industries Limited INE055A01016 Cement 3, % ICICI Bank Limited INE090A01021 Banks 11, % Capital First Limited INE688I01017 Finance 4, % Shree Cements Limited INE070A01015 Cement % Grasim Industries Limited INE047A01021 Cement 2, % Tata Consultancy Services Limited INE467B01029 Software 1, % Procter & Gamble Hygiene and Health Care Limited INE179A01014 Consumer Non Durables % Hindustan Unilever Limited INE030A01027 Consumer Non Durables 2, % Bata India Limited INE176A01028 Consumer Durables 3, % Kansai Nerolac Paints Limited INE531A01024 Consumer Non Durables 4, % Axis Bank Limited INE238A01034 Banks 4, % HCL Technologies Limited INE860A01027 Software 1, % Cummins India Limited INE298A01020 Industrial Products 2, % Infosys Limited INE009A01021 Software 1, % Tata Motors Limited INE155A01022 Auto 4, % Bharat Financial Inclusion Limited INE180K01011 Finance 1, % Sun Pharmaceutical Industries Limited INE044A01036 Pharmaceuticals 2, % ITC Limited INE154A01025 Consumer Non Durables 4, % Ashok Leyland Limited INE208A01029 Auto 6, % Vedanta Limited INE205A01025 Non - Ferrous Metals 2, % 10

11 ADITYA BIRLA SUN LIFE TAX SAVINGS FUND (An Open Ended Equity Linked Savings Scheme) Portfolio as on March 31, 2018 Name of the Instrument ISIN Industry Quantity Market/Fair Value % to Net Assets (Rs. in Lacs) Aditya Birla Capital Limited INE674K01013 Finance 5, % Mahindra & Mahindra Limited INE101A01026 Auto % Container Corporation of India Limited INE111A01017 Transportation % IDFC Limited INE043D01016 Finance 7, % Bharat Bijlee Limited INE464A01028 Industrial Capital Goods % United Breweries (Holdings) Limited INE696A01025 Finance 11, % Sub Total 2, % (b) Unlisted NIL NIL Sub Total NIL NIL Total 2, % Others CBLO / Reverse Repo Clearing Corporation of India Ltd % Sub Total % Total % Net Receivables / (Payables) (20.18) -0.79% GRAND TOTAL 2, % ^Industry classification as recommended by AMFI and wherever not available, internal classification has been used 11

12 Scheme Performance Annexure III Returns as on March 31, 2018 Aditya Birla Sun Life Tax Relief 96 (Surviving Scheme) NAVs as on March 31, 2018 Regular Rs Direct - Rs Period Scheme Returns (%) Benchmark Returns (%) Direct Regular Direct Regular 1 Year Year Year Since Inception Past performance may or may not be sustained in the future Since Inception Date : March 29, 1996 # Scheme Benchmark: S&P BSE 200 Total Return Index Pursuant to provisions of SEBI Circular dated September 13, 2012, Direct Plan is introduced w.e.f. January 1, Date of allotment for Direct Plan is January 1, Scheme Performance Returns as on March 31, 2018 Aditya Birla Sun Life Tax Savings Fund (Merging Scheme) NAVs as on March 31, 2018 Regular Rs Direct - Rs Period Scheme Returns (%) Benchmark Returns (%) Direct Regular Direct Regular 1 Year Year Year Since Inception Past performance may or may not be sustained in the future Since Inception Date : March 28, 2004 # Scheme Benchmark: S&P BSE 100 Total Return Index Pursuant to provisions of SEBI Circular dated September 13, 2012, Direct Plan is introduced w.e.f. January 1, Date of allotment for Direct Plan is January 1,

13 The Non-Performing Assets (NPAs) and illiquid assets as on March 31, 2018 are as under: Percentage of total NPAs to net assets Percentage of total Illiquid Assets* to net assets Aditya Birla Sun Life Tax Savings Fund *defined as thinly traded/ non-traded/unlisted equity shares. Aditya Birla Sun Life Tax Relief 96 Annexure IV Consolidated Scheme Nil Nil Nil Nil Nil Nil Note : - As on March 31, 2018 an illiquid security Magnasound (I) Ltd is in Aditya Birla Sun Life Tax Relief 96 (3000 units) which are valued at Rs TAX TREATMENT ON MERGER OF PLANS/SCHEMES OF MUTUAL FUNDS A. A. Tax Treatment for Units holders who decide to continue remain invested after merger I. Consolidation of Mutual Fund Schemes 13 Annexure V The Finance Act, 2015 to provide tax neutrality on transfer of units of a scheme of a Mutual Fund under the process of consolidation of schemes of Mutual Funds as per SEBI (Mutual Funds) Regulations, Section 47 was amended to so as to include clause (xviii) which provides that any transfer of unit or units by a unit holder held by him in the Consolidating Scheme of a mutual fund, will not be treated as transfer, if the transfer is made in consideration of the allotment to him of unit or units in the Consolidated Scheme of the mutual fund under the process of consolidation of the schemes of mutual fund in accordance with the SEBI (Mutual Funds) Regulation, 1996 and accordingly capital gains will not apply. For the purpose of above clause, Consolidating Scheme means the scheme of a mutual fund which merges under the process of consolidation of the schemes of mutual fund in accordance with the SEBI (Mutual Funds) Regulation, 1996 made under the Securities and Exchange Board of India Act, 1992 and Consolidated Scheme means the scheme with which the Consolidating Scheme merges or which is formed as a result of such merger. Provided that the Consolidation is of two or more schemes of equity oriented fund or of two or more scheme of a fund other than equity oriented fund Thus as per the amended Section 47, allotment of units in Surviving Scheme (Consolidated Scheme), pursuant to consolidation of schemes or merger, to Unit holders of Transferor Scheme (Consolidating Scheme) who decide to continue in the Surviving Scheme (Consolidated Scheme) will not be considered as transfer for the purpose of computing capital gains i.e. redemption of units of Transferor Scheme (Consolidating Scheme) and will not result in short term / long term capital gain / loss in the hands of the unit holders. Further there would be no securities transaction tax on allotment of units in Surviving Scheme (Consolidated Scheme) pursuant to merger to unit holders who decide to continue. The said amendment introduced by the Finance Act, 2015 is made applicable w.e.f. A.Y and subsequent assessment years. 2. Section 2(42A) which determines period of holding of a capital asset for computation of short term/long term capital gains is amended with sub clause (hd) to provide that in case of unit or units allotted to Unit holder pursuant to consolidation or merger of schemes of mutual fund, the period for which the unit or units in the Consolidating Scheme were held by the Unit holder will be included in determining the period for which such units were held by the unit holder. Thus the date of allotment at the time of subscription in Transferor Scheme (Consolidating Scheme) will be considered as the date of allotment for determining period of holding for the purpose of computing short term / long term capital gain / loss at the time of redemption of such units in Surviving Scheme (Consolidated Scheme). 3. Section 49 is amended with sub-section (2AD) to provide that where units are allotted in Consolidated Scheme pursuant to consolidation of scheme of mutual funds, the cost of acquisition of the units will be deemed to be the cost of acquisition to unitholder of unit or units in the Consolidating Scheme of the mutual fund. Thus, the cost of acquisition of units allotted in Surviving Scheme (Consolidated Scheme) pursuant to merger or consolidation of schemes will be the cost of acquisition of units in Transferor scheme (Consolidating Scheme). II. Consolidation of Mutual Fund Plans Further, the Finance Act, 2016, the Finance Act, 2017 and Finance Act, 2018 have made several amendments in the provisions of the Act relating to the taxation of mutual funds. The amendments and their implications may be summarised as under:

14 1. Amendment in Section 47 of the Act: Transactions not regarded as transfer The Finance Act, 2016 amended Section 47 so as to include clause (xix) which provides that any transfer of unit or units by a unit holder held by him in the Consolidating Plan of a mutual fund scheme, will not be treated as transfer, if the transfer is made in consideration of the allotment to him of unit or units in the Consolidated Plan of that mutual fund scheme under the process of consolidation of the schemes of mutual fund in accordance with the SEBI (Mutual Funds) Regulation, 1996 and accordingly capital gains will not apply. The amendment is effective from April 1, For the purpose of above clause, Consolidating Plan means the plan within a scheme of a mutual fund which merges under the process of consolidation of the plans within a scheme of mutual fund in accordance with the SEBI (Mutual Funds) Regulations, 1996 made under the SEBI Act, Provided that the Consolidation is of two or more schemes of equity oriented fund or of two or more scheme of a fund other than equity oriented fund Thus, as per the amended section 47, allotment of units in Surviving Plan (Consolidated Plan), pursuant to consolidation of plans or merger, to Unit holders of Transferor Plan (Consolidating Plan) who decides to continue in the Surviving Plan (Consolidated Plan) will not be considered as redemption of units of Transferor Plan (Consolidating Plan) and will not result in short term / long term capital gain / loss in the hands of the unit holders. Further there would be no Securities Transaction Tax ( STT ) on allotment of units in Surviving Plan (Consolidated Plan) pursuant to merger to unit holders who decide to continue. 2. Amendment of Section 2(42A) of the Act: Section 2(42A) is amended with sub clause (hg) by virtue of the Finance Act, 2017 to provide that in case of unit or units allotted to unit holder pursuant to consolidation or merger of plans under a mutual fund scheme, the period for which the unit or units in the Consolidating Plan of a mutual fund scheme were held by the unit holder will be included in determining the period for which such units were held by the unit holder. The amendment is effective from April 1, Thus, the date of allotment at the time of subscription in Transferor Plan (Consolidating Plan) under a mutual fund scheme will be considered as the date of allotment for determining period of holding for the purpose of computing short term / long term capital gain / loss at the time of redemption of such units in Surviving Plan (Consolidated Plan) under a mutual fund scheme. 3. Amendment of Section 49 of the Act: Section 49 is amended with sub-section (2AF) by Finance Act, 2017 to provide that where units are allotted in Consolidated Plan of a mutual fund scheme pursuant to consolidation of plans of a mutual fund scheme, the cost of acquisition of the units will be deemed to be the cost of acquisition to unit holder of unit or units in the Consolidating Plan of the scheme of mutual fund. Thus, the cost of acquisition of units allotted in Surviving Plan (Consolidated Plan) pursuant to merger or consolidation of plans of a mutual fund scheme will be the cost of acquisition of units in Transferor Plan (Consolidating Plan). The above amendment is applicable from Assessment Year and will therefore, apply to the consolidation of plans on or after April 1, B. Tax Treatment for Units holders who decide to redeem pursuant to proposed merger during the exit window The redemption from the Transferor Plan and/or switch-out of units of Transferor Plan to any other plans under the relevant mutual fund scheme of Birla Sun Life Mutual Fund during exit window shall be considered as redemption in Transferor Plan and will result in short term / long term capital gain / loss in the hands of the unit holders depending on the period of holding of the investment. Taxation of Capital Gains in case of Resident: ü Long Term Capital Gain Finance Act, 2018 has withdrawn exemption granted u/s 10(38) with respect to long term capital gains on equity shares/equity oriented fund by introduction of section 112A. Accordingly, tax at 10% (without indexation) plus surcharge and cess will be levied on long term capital gains exceeding Rs. 1 lakhs. Detailed mechanism of calculation has been provided in the said section. equity oriented fund has been defined to mean a fund set up under a scheme of a mutual fund specified under clause (23D) of section 10 and, a) In a case where the fund invests in the units of another fund which is traded on a recognized stock exchange,- (I) A minimum of 90 per cent. of the total proceeds of such funds is invested in the units of such other fund ; and (II) such other fund also invests a minimum of 90 per cent. of its total proceeds in the equity shares of domestic companies listed on recognized stock exchange; and 14

15 b) in any other case, a minimum of 65 per cent. of the total proceeds of such fund is invested in the equity shares of domestic companies listed on recognized stock exchange. The above amendment will be applicable w.e.f. 1st April Long term capital gain arising from the sale of a unit other than an equity oriented fund is taxed at 20% after indexation plus applicable Surcharge and Cess for listed units. The income by way of long term capital gains of a company on equity oriented funds would be taken into account in computing the book profits and Minimum Alternate Tax payable, if any, u/s 115JB of the Act []. ü Short Term Capital Gain: As per section 111A of the Act, short term capital gain arising from the sale of a unit of an equity oriented fund is taxable at the rate of 15% (excluding surcharge and education cess). In such cases, at the time of sale of units (redemption) the unit holder will have to pay STT of 0.001% of the sale / redemption value. The capital gains will be computed by deducting expenditure incurred in connection with such transfer and cost of acquisition of the unit from the sale consideration. Short term capital gain arising from sale of a unit other than equity oriented fund is taxed as per the relevant tax slab applicable to respective investors. Further, in case of an individual or HUF, being a resident, where the total income as reduced by the short term capital gains as per section 111A is below the maximum amount not chargeable to tax i.e. Rs. 2,50,000 in case of all individuals (other than senior citizens and very senior citizens) and HUF, Rs.3,00,000 in case of senior citizens above 60 years of age but less than 80 years of age and Rs.5,00,000 in case of senior citizens above 80 years of age, the short term capital gains as per section 111A shall be reduced to the extent of the shortfall and only the balance short term capital gains as per section 111A will be subject to the flat rate of taxation. Taxation of Capital Gains in case of Non Resident ü Long Term Capital Gain ü For all non-resident unit holders other than offshore funds & FII s: Long-term capital gains on transfer of unlisted units arising will be subjected to the income tax at the rate of 10%. However, no benefit of Currency Inflation Indexation or the Cost Inflation Indexation is available. Long term capital gains on other units will be 20%. However, in this case, an assessee will have an option to apply the concessional rate of tax of 10% provided the long term capital gains are computed without substituting indexed cost in place of cost of acquisition. For Overseas Financial Organizations, including Overseas Corporate Bodies fulfilling conditions laid down under section 115AB (Offshore Funds): Under section 115AB of the Act, long-term capital gains in respect of units purchased in foreign currency will be chargeable at the rate of 10%. (Plus surcharge in case Offshore Funds are corporate bodies). Such gains would be calculated without indexation of cost of acquisition. Foreign institutional investors (FII): Consequent to withdrawal of exemption u/s 10 (38), long term capital gains exceeding Rs. 1 lakhs on equity oriented funds will become taxable at 10% (without indexation) in hands of FIIs also. Provisions of section 115AD will be modified suitably. This provision will be applicable w.e.f. 1st April Short Term Capital Gain Short-term capital gains arising on sale/repurchase of units of equity oriented funds would be taxed at 15% (excluding surcharge and education cess) (referred in section 111A of the Act, discussed elsewhere in this document). Short term capital gain arising from sale of a unit other than equity oriented fund is taxed as per the relevant tax slab applicable to respective investors. Securities Transaction Tax STT is payable on redemption / switch-out of units of Transferor Plan during the exit option window will be borne by the Company. Tax Deducted at Source (TDS) (applicable in case of NRI investors): Tax shall be deducted at source u/s 194F of the 20% at the time of making the payment for repurchase of units. The above tax provisions are applicable for all categories of investors including Non Resident Indians. The information stated above is based on Aditya Birla Sun Life Mutual Fund understanding of the tax laws and only for the purpose of providing general information to the unit holders of the Surviving Plan and Transferor Plan. In view of the individual nature of tax implications, each unit holder is advised to consult with his or her own professional tax advisors with respect to the specific tax and other financial implications arising out his / her / their participation in merger of plans of mutual fund scheme. 15

16 Annexure VI ISINs of the Merging Scheme to be extinguished Aditya Birla Sun Life Tax Savings Fund - Regular Plan - Bonus Aditya Birla Sun Life Tax Savings Fund - Regular Plan - Growth Aditya Birla Sun Life Tax Savings Fund - Direct Plan - Bonus Option Aditya Birla Sun Life Tax Savings Fund - Direct Plan - Dividend Payout Option Aditya Birla Sun Life Tax Savings Fund - Direct Plan - Growth Option Aditya Birla Sun Life Tax Savings Fund - Regular Plan - Dividend Payout INF084M01333 INF084M01309 INF084M01BX0 INF084M01BV4 INF084M01BU6 INF084M01317 ISINs of the Surviving Scheme Aditya Birla Sun Life Tax Relief '96 Fund - Direct Plan - Dividend Payout Aditya Birla Sun Life Tax Relief '96 Fund - Direct Plan - Growth Aditya Birla Sun Life Tax Relief '96 Fund - Regular Plan - Dividend Payout Aditya Birla Sun Life Tax Relief '96 Fund - Regular Plan - Growth INF209K01P23 INF209K01UN8 INF209K01090 INF209K01108 Annexure VII Details of Unclaimed Dividend as on March 31, 2018 Scheme Name Unclaimed Dividend Unclaimed Redemptions/ Refunds Amount (Rs.) No. of Investors Amount (Rs.) No. of Investors Aditya Birla Sun Life Tax Savings Fund Aditya Birla Sun Life Tax Relief