Description of the Policy

Old Mutual International Flexible Investment Account product summary This document was last updated in December 2018. Please confirm with your financial adviser representative that this is the most up-to-date document for your product or servicing needs. The Flexible Investment Account is issued by Old Mutual International Isle of Man Limited Singapore Branch on behalf of Old Mutual International Isle of Man Limited (Old Mutual International) and is referred to as the policy in this summary. Before you invest, please make sure you ve read these documents which are available from your financial adviser representative in the first instance or Old Mutual International: Product Brochure Policy Terms Your Guide to Life Insurance (this can be downloaded from the Life Insurance Association s website: www.lia.org.sg) You should also make sure that you understand the charges that apply these will be set out in the charges section of your application. You should also make sure you understand which assets you ve chosen and why. Description of the Policy The Flexible Investment Account is a unit-linked life assurance policy which does not have a set term. It provides benefits when the relevant life assured dies. There must be an insurable interest between the policyholder and the life or lives assured. To give you extra flexibility, the Policy is divided into separate Cluster Policies the value of each one depends on the value of the assets you choose. It s available to policyholders aged between 18 and 89. Applying for a Flexible Investment Account By applying for this Policy you agree that: (a) you will apply for and sign in to your Online Service Account, via the client extranet on Wealth Interactive, our innovative, end-to-end wealth management service. (b) all Policy Transactions will be made by you using your Online Service Account; and (c) all communications from us will be through your Online Service Account where our Online Service allows. Your financial adviser representative will complete your application on your behalf. This will be sent to your Online Service Account for you to review the information your financial adviser representative has provided. Your approval of this information will submit the application to us, following which you will receive written confirmation that an Online Service Account has been set up. When you apply for your Flexible Investment Account, you must name at least one asset which you want your Premium to be invested in. Similarly when you pay us an additional Premium or amend the amount of a Regular Premium you must provide us with the asset details. Powered by Wealth Interactive

Paying Premiums The Policy is a Lump Sum contract and minimums are as set out in the following table. You must start your Policy with a Lump Sum Premium of at least S$80,000 (for other currency amounts please see below table). After the Contract Date you can request to pay Regular Premiums or additional Lump Sum Premiums or both. Currency LUMP SUM premiums Regular premiums Initial lump sum premium Additional lump sum premiums Minimum initial (monthly, quarterly, half yearly, annually) Singapore Dollars 80,000 8,000 1,600/4,800/9,600/19,200 US Dollars 60,000 6,000 1,200/3,600/7,200/14,400 Euros 60,000 6,000 1,200/3,600/7,200/14,400 Hong Kong Dollars 480,000 48,000 9,600/28,800/57,600/115,200 Sterling 40,000 4,000 800/2,400/4,800/9,600 Australian Dollars 80,000 8,000 1,600/4,800/9,600/19,200 Lump sum premiums can be paid in any available currency; Regular Premiums must be in your Policy Currency. Servicing your Flexible Investment Account online You can log on to your Online Service Account and review your Policy any time. It will provide the information you need about your Flexible Investment Account in one place, plus you ll be able to: Request the sale and purchase of assets Request a withdrawal Access correspondence, valuations and statements Change your personal details Confirm instructions from your financial adviser representative (for example, an additional application to pay a further premium) Free look period You have the right to cancel your Flexible Investment Account and obtain a refund of any premium(s) paid, less any applicable charges* and any fall in the value of the assets linked to your Flexible Investment Account. You have 30 days from the date that you receive the Schedule to let us know you want to cancel. Further information on how to cancel can be found in the Flexible Investment Account Terms & Conditions. *Where relevant, applicable charges include non-refundable fund charges, fees we have paid to your financial adviser on your behalf and bank charges. Death benefit We provide a Death Benefit of 101% of the sale value of the Portfolio Fund assets less any outstanding Establishment Charge that may apply. We do not make an explicit charge for this increased value of 101%. The value is determined on the Final Valuation Date when we have sold the last of the assets and credited the Transaction Account. Portfolio Fund The Portfolio Fund contains the assets chosen by you. These assets are owned by Old Mutual International rather than you. The value of the Portfolio Fund is reflected in the value of your Policy. We will tell you about any material information we receive from the providers of the assets. For example, we will tell you if a fund changes its name or merges with another fund. However, we won t tell you about any meetings or votes linked to the assets as we are the legal and beneficial owner of the assets. 2

Transaction Account As part of your application you will select a Policy currency from one of six currencies: Singapore dollars, US dollars, Sterling, Australian dollars, Euros or HK dollars. We will open a Transaction Account in this currency and this Policy currency cannot be changed. The currency of the Transaction Account that you select on your application form is important. It is used to facilitate Policy Transactions (for example buying and selling assets) and is used to determine the currency we deduct charges in and produce valuations in; it also determines the currency that we will normally use to pay benefits in. Additional Transaction Accounts will be automatically opened and maintained in the other currencies to facilitate any transactions in these currencies. When you pay a Premium, the money is transferred to a Transaction Account; it is then used to buy assets. If you sell an asset, the proceeds are transferred to a Transaction Account to be used to buy different assets or to be paid out as a withdrawal. We will use the Transaction Account to hold any miscellaneous credits or other amounts that we may receive in certain circumstances such as any residual cash as a result of buying or selling assets, or when a provider of a Collective Fund closes a fund. These will be used to offset Portfolio Fund charges or you may request in writing to our Branch Office to reinvest these amounts. Providing instructions to buy and sell assets You may change your choice of asset by following the instructions on our Online Service. We will place dealing instructions generally at the next available dealing point for the asset. Where a transaction is for a sale and buy then we will only place the deal to buy once we have confirmation of the sale dealing details. We may apply an Asset Dealing Charge. This charge applies to each transaction to buy an asset and each transaction to sell an asset. You must meet the higher of: (1) our minimum dealing amount for a single asset which is S$1,600/US$1,200/ 800/ 1,200/HK$9,600/AU$1,600, and (2) the minimum dealing amount specified by the manager of the Collective Fund, and (3) the minimum holding amount specified by the manager of a Collective Fund, in order for us to proceed with your transaction request. If we sell an asset and the result is that the remaining value of the asset falls below the minimum holding the provider will allow, the provider may sell your full holding resulting in the proceeds being held in the Transaction Account awaiting your further investment instructions. You should send dealing instructions to us online. If you use another method, we may charge you extra (the Offline Asset Dealing Charge) in addition to any Asset Dealing Charges. For example, if you send us written instructions, we may charge an extra S$20/US$15/ 10/ 15/HK$120/AU$20 per transaction. Purchases and sales are executed outside Singapore. As such they are not protected by the rules and regulations of the Monetary Authority of Singapore or the Securities and Futures Act (Cap 289). Custody of assets Our principal custodian for Exchange Traded Assets is Bank of New York. Assets will either be held in the name of the Branch or where the holding is in a nominee name, each holding will be annotated to the Branch. We have accounts in the name of the Singapore Branch with custodians in regulated territories outside of Singapore. As such these accounts are not within the regulatory jurisdiction or supervision of the Monetary Authority of Singapore (MAS) and therefore the Securities and Futures Act (Cap 289) does not apply. Deferring transactions Events outside of our control may mean that we are unable to obtain a fair and accurate price for an asset or dealings in an asset or a market or markets may be suspended and some assets may become worthless. No benefits can be paid unless we are able to obtain a fair price and dispose of the assets, unless we agree between us that payment will be by transfer of existing assets to you in specie. Policy value The value of your Policy is determined by the value of the assets that you choose to link to less any outstanding charges. 3

Taking money out You may request a surrender by following the instructions on the Online Service. If you want a part surrender or regular withdrawals you must specify the assets to be sold (Nominated Asset(s)). This is subject to our minimum dealing sizes and the minimum holding amounts described in the Providing instructions to buy and sell assets section on page 3. However, if an Establishment Charge applies to your Policy and you wish to cash in your Policy before this is fully repaid, we will deduct any outstanding Establishment Charge that applies. This is sometimes referred to as an Early Surrender Charge. Currency Part Surrender Minimum Encashment Regular Withdrawals Minimum Encashment Request Request monthly quarterly half-yearly yearly Singapore Dollar 2,000 1,600 4,800 9,600 19,200 US Dollars 1,500 1,200 3,600 7,200 14,400 Euros 1,500 1,200 3,600 7,200 14,400 Hong Kong Dollars 12,000 9,600 28,800 57,600 115,200 Sterling 1,000 800 2,400 4,800 9,600 Australian Dollars 2,000 1,600 4,800 9,600 19,200 If a withdrawal means the value of your Policy would fall below S$20,000/US$15,000/ 10,000/ 15,000/HK$120,000/ AU$20,000 or 125% of any outstanding Establishment Charge, whichever is higher, we will refuse the request unless you fully cash in your Policy. Payment from your Policy Partial encashment This will normally be in the Policy Currency unless you request it to be in one of the other available currencies. Payment of the amount requested will only be made on receipt of proceeds from the sale of all asset(s). Regular withdrawals These can only be in the Policy Currency. We will pay out the regular withdrawal amount on the payment due date regardless of whether all asset sale proceeds have been received. If there is a delay, this may result in a temporary negative balance on your Transaction Account until all proceeds are received. Total surrender of one Policy or one or more cluster policy You can request to fully cash in your Policy following the instructions on the Online Service. If an Establishment Charge applies to your Policy we will deduct any outstanding Establishment Charge, sometimes referred to as an Early Surrender Charge. Payment of the amount requested will only be made on receipt of proceeds from the sale of all asset(s). How we take charges Portfolio Fund Charges are calculated on the Quarterly Date. This is the last Working Day of March, June, September and December. We will deduct these charges from the Transaction Account on the last Working Day of the second month following the Quarterly Date when the calculation was made and if applicable on the Final Valuation Date. This may cause a temporary negative balance in the Transaction Account. If there is a credit balance in the Transaction Account(s) then we will normally use that value towards payment of the Portfolio Fund Charges. If there is a debit balance held in the Transaction Account the debit balance will be reflected in your next Quarterly Valuation. You, your Fund Adviser or the Discretionary Asset Manager have 30 days from the date of the Quarterly Valuation to provide us with investment instructions in order to clear the debit balance on or before the next Deduction Date. (i) If there is a debit balance and it is less than the maximum overdraft limit, the debit balance will remain in the Transaction Account. If the debit balance remains outstanding after the 30 day notice period and if the debit balance is above the published maximum overdraft limit, then we have the right to sell from an instant access or short notice Bank Deposit first and if not then from the highest value Asset on that date, unless that Asset has restricted dealing, or early redemption penalties. Under these circumstances we will sell from the Asset with the next highest value but with no restricted dealing or early redemption, and so on. If you decide to cash your Policy in or when a death benefit becomes payable, any outstanding charges will be deducted at the Final Valuation Date. continued 4

Summary of charges There are two charge structures for your Policy: 1. Initial charge: where some of the set up costs are taken at the start of the Policy and reflected in your Allocation Percentage. 2. Spread cost: where some of the set up costs are taken over a fixed number of years (an Establishment Charge). If you decide to surrender a Policy in full or totally surrender the Flexible Investment Account and an Establishment Charge still applies to your Policy, we will deduct any outstanding Establishment Charge from the surrender value. This is sometimes referred to as an Early Surrender Charge. Whichever structure you choose this cannot be changed later. Portfolio Fund Charges will be deducted from your Transaction Account. The charges you pay will be affected by the fact that the Policy, and some of the assets held, have fees to cover advice, promotion and distribution. These fees may include initial and ongoing payments (such as commission) made by us to your financial adviser representative. These payments could be in addition to any commission payable by the asset provider to your financial adviser for the assets you hold. You will also receive confirmation of the Portfolio Fund Charges and Ongoing Service Charges that apply when your Policy starts in the form of the Charges Schedule. Allocation Percentage Initial charge Spread cost The Allocation Percentage will be shown in the Confirmation of Charges section of your application. This is the proportion of your Premium that will be used to purchase the assets you have selected for your Policy. Establishment Charge None An Establishment Charge is a percentage of the sum of all Premiums paid in a Policy Year and will apply for a fixed number of years. A separate Establishment Charge and time period will apply where additional Premiums are paid. If you fully surrender your Policy or Cluster of Policies or your Policy comes to an end due to the death of the Relevant Life Assured, any outstanding Establishment Charge applicable to your Policy or Cluster of Policies on the Final Valuation Date, sometimes referred to as an Early Surrender Charge will be deducted from the surrender value. Asset Dealing Charge Administration Charge Management Charge An Asset Dealing Charge of S$10/US$7.50/ 5/E7.50/HK$60/AU$10 may apply. An Administration Charge of S$40/US$30/ 20/E30/HK$240/AU$40 per quarter may apply. The charge will be based on the higher of: a) the Fixed Minimum Charge (currently zero), and b) the percentage amount calculated based on the Portfolio Fund Value at the Quarterly Date or Final Valuation Date. The Portfolio Fund Value at the Quarterly Date or Final Valuation Date Up to: S$200,000/US$150,000/ 100,000/ 150,000/ HK$1,200,000/AU$200,000 Up to: S$500,000/US$375,000/ 250,000/ 375,000/ HK$3,000,000/AU$500,000 Up to: S$700,000/US$525,000/ 350,000/ 525,000/ HK$4,200,000AU$700,000 Over: S$700,000/US$525,000/ 350,000/ 525,000/ HK$4,200,000/AU$700,000 Percentage amount per year 0.45% 0.40% 0.35% 0.30% Offline Asset Dealing Charge Ongoing Servicing Charge Deals not placed using our Online Service will be charged the Asset Dealing Charge and an additional Offline Asset Dealing Charge of S$20/US$15/ 10/E15/HK$120/AU$20 per transaction. A separate charge will apply to reflect any fund based commission to be paid to your financial adviser representative. For example, if fund based commission is 0.5% p.a., an Ongoing Servicing Charge of 0.5% p.a. will apply. Third party charges and other charges An initial and ongoing annual charge may apply on any assets. We may negotiate a reduced initial charge, where possible, with asset managers. Also, where we incur extra costs for transactions, we pass those costs on to you, for example: Telegraphic transfer (TT) charges. For payments out by TT we will charge S$20/US$25/ 12/ 20/HK$180/AU$35. This level of charge may change in the future. Stockbroker charges and commissions. Safe custody charges. This is not a complete list and we have no control over third party charges. As a result they may increase, reduce, stop or be introduced without notice to you or us. 5

Valuation statement We carry out regular valuations of the Portfolio Fund and issue valuation statements that you can view online at www.oldmutualinternational.com/wealthinteractive. The statement shows: a full breakdown of all your transactions, including deductions for charges details for each asset by class and individually. The valuation will be based on the last published price available to us on, or before, the Quarterly Date. For assets that aren t priced every day, the price will be historic. We use the value to calculate any charges to be deducted from the Portfolio Fund. Risks We accept no responsibility for the investment performance of an asset. The value of the assets linked to the Portfolio Fund determines the value of your Policy and can fall as well as rise. There is no guarantee of a return of capital. You should view your investment in the Policy as a medium- to long-term commitment, meaning at least five years. If you cash in your Policy in the early years we may make a charge (see Summary of Charges on page 5) and the value payable may be less than the Premiums you have paid. Together with your financial adviser representative you must satisfy yourself that the assets you ve chosen are suitable based on your needs, objectives and risk appetite. You should also understand any risks associated with particular assets. For example, there may be currency risks if the asset is denominated in a currency that is different to your Transaction Account currency or liquidity and valuation risks for property funds. Old Mutual International makes no recommendations in respect of the underlying assets of the Portfolio Fund. It s up to you and your Investment Adviser (if you re using one) to research the underlying assets and assess their suitability before requesting Old Mutual International to invest in them. Policyholder protection Old Mutual International is a member of the Policy Owners Protection Scheme ( PPF Scheme ) in Singapore. However, this policy issued by Old Mutual International (where no additional life cover purchased) is not covered under the PPF Scheme. Details of the PPF Scheme can be obtained at Singapore Deposit Insurance Corporation Ltd s website on www.sdic.org.sg. If, however, the Branch can t meet its policyholder liabilities, you are protected by the Isle of Man Life Assurance (Compensation of Policyholders) Regulations 1991. Soft dollar commissions We do not receive soft dollar commissions and our terms of business require that anyone who executes Portfolio Fund trades on behalf of Old Mutual International does not receive such commissions. Conflict of interest We are not aware of any conflict of interest that exists, or may exist, between the Branch, any directors or officers of the Branch, our Head Office or other branches, any third party which provides services in respect of Portfolio Funds and that third party s directors and officers. The contract and applicable law Full details of the contract are contained in the Policy Terms which are governed by the law of Singapore, including the rules and notices issued by the Monetary Authority of Singapore. 6

Complaints Customer satisfaction is very important to us at Old Mutual International, but if you do have cause to complain about the service you receive, we have procedures to make sure your complaint is dealt with fairly. How can you complain? It s simple to make a complaint to us in writing or over the phone. If you write to us, please mark it clearly as a complaint and if possible, provide the following information: Specific facts, policy numbers and relevant documentation. Proof of losses sustained with calculations (if relevant). The solution you require to resolve your complaint. Including as much detail as you can about what happened will enable us to understand your complaint and investigate it thoroughly. If you are happy for us to call you, please also provide a contact telephone number and we will acknowledge receipt of your complaint and endeavour to contact you within five working days of receiving the complaint. What can you expect if you complain? Our administration team and manager will be responsible initially for resolving your complaint. If they are unable to do so, it can be escalated to the complaints team who will carry out a review and if they are unable to resolve your complaint, they will send you a final response. Contact Details You can write to the complaints team using the below address: Old Mutual International King Edward Bay House King Edward Road Onchan Isle of Man IM99 1NU British Isles Email: OMIfmcomplaints@ominternational.com Fax: + 44 (0) 1624 611715 You can telephone us on + 44 (0) 1624 655555. What if you are not satisfied with the outcome? We will do everything we can to resolve your complaint but if you are not satisfied by our response, you can refer it to the Isle of Man Financial Services Ombudsman Scheme (FSOS). The FSOS is an independent body that will consider your complaint impartially to reach a conclusion. There is more information about this service on their website: www.gov.im/oft/ombudsman/ You can write to the Ombudsman at the following address: The Financial Services Ombudsman Scheme for the Isle of Man Thie Slieau Whallian Foxdale Road St John s Isle of Man IM4 3AS British Isles Additionally, as a customer of Old Mutual International Isle of Man Limited Singapore Branch, you may refer the matter to the Financial Industry Disputes Resolution Centre (FIDReC). FIDReC is an independent institution for customers of financial institutions based in Singapore and provides an impartial mediation process. You can find further details about the service on their website: www.fidrec.com.sg/website/index.html 7

This document is based on Old Mutual International s understanding of the law, regulation and taxation practice of Singapore and Isle of Man as at December 2018, which may change in the future. No liability can be accepted for any personal tax consequences as a result of future legislative, regulatory or tax changes. Old Mutual International only offers products through financial adviser representatives and does not give financial advice. We have no responsibility for the performance of your chosen assets. The value of assets can fall as well as rise and you might not get back what you put in. You should seek professional advice regarding your own tax circumstances. Benefits under the Old Mutual International Flexible Investment Account are determined strictly in accordance with the relevant standard policy terms & conditions, copies of which are available on request from your financial adviser representative in the first instance or at our Singapore branch. Any information concerning the offering documents and the policy terms & conditions are to be interpreted in accordance with and are governed by Singapore and Isle of Man Law. If you require any further information, please contact your financial adviser representative in the first instance or our operations team at the Singapore Branch. Date of publication: December 2018 www.oldmutualinternational.com Calls may be monitored and recorded for training purposes and to avoid misunderstandings. Old Mutual International is the registered business name of Old Mutual International Isle of Man Limited Singapore Branch. Old Mutual International Isle of Man Limited Singapore Branch, 50 Collyer Quay, OUE Bayfront, #05-07, Singapore, 049321. Phone: +65 6216 7990 Fax: +65 6216 7999. Registered in Singapore Number T08FC7158E. Authorised by the Monetary Authority of Singapore to conduct life assurance business in Singapore. Member of the Life Insurance Association of Singapore. Member of the Singapore Finance Dispute Resolution Scheme. Old Mutual International Isle of Man Limited is registered in the Isle of Man under number 24916C. Registered Office/Head Office: King Edward Bay House, King Edward Road, Onchan, Isle of Man, IM99 1NU, British Isles. Licensed by the Isle of Man Financial Services Authority. Old Mutual International is registered in the Isle of Man as a business name of Old Mutual International Isle of Man Limited. SK8079/INT18-2056/December 2018 8