March 2018 FUND UPDATE YOUR INVESTMENT PERFORMANCE

March 2018 FUND UPDATE YOUR INVESTMENT PERFORMANCE

CONTENTS S Click on the Fund Name for details MARKET OUTLOOK 2 FUND PERFORMANCE OF ULIP FUNDS 7 PRODUCT - FUND MATRIX 10 CLASSIC OPPORTUNITIES FUND (ULIF-033-16/12/09-CLAOPPFND-107) 12 FRONTLINE EQUITY FUND (ULIF-034-17/12/09-FRLEQUFND-107) 13 DYNAMIC FLOOR FUND II (ULIF-035-17/12/09-DYFLRFND2-107) 14 BALANCED FUND (ULIF-037-21/12/09-BALKFND-107) 15 KOTAK OPPORTUNITIES FUND (ULIF-029-02/10/08-OPPFND-107) 16 KOTAK AGGRESSIVE GROWTH FUND (ULIF-018-13/09/04-AGRGWTFND-107) 17 GUARANTEE FUND (ULIF-048-05/02/10-GRTFND-107) 18 MONEY MARKET FUND (ULIF-041-05/01/10-MNMKKFND-107) 19 KOTAK DYNAMIC GROWTH FUND (ULIF-012-27/06/03-DYGWTFND-107) 20 DYNAMIC FLOOR FUND (ULIF-028-14/11/06-DYFLRFND-107) 21 KOTAK DYNAMIC BALANCED FUND (ULIF-009-27/06/03-DYBALFND-107) 22 KOTAK DYNAMIC BOND FUND (ULIF-015-15/04/04-DYBNDFND-107) 23 KOTAK DYNAMIC GILT FUND (ULIF-006-27/06/03-DYGLTFND-107) 24 KOTAK DYNAMIC FLOATING RATE FUND (ULIF-020-07/12/04-DYFLTRFND-107) 25 KOTAK GUARANTEED GROWTH FUND (ULIF-013-27/06/03-GRTGWTFND-107) 27 KOTAK GUARANTEED BALANCED FUND (ULIF-010-27/06/03-GRTBALFND-107) 28 PENSION CLASSIC OPPORTUNITIES FUND (ULIF-042-07/01/10-PNCLAOPFND-107) 29 KOTAK PENSION OPPORTUNITIES FUND (ULIF-032-17/07/09-PNOPPFND-107) 30 PENSION FRONTLINE EQUITY FUND (ULIF-044-11/01/10-PNFRLEQFND-107) 31 PENSION GUARANTEE FUND (ULIF-038-21/12/09-PNGRTFND-107) 32 KOTAK PENSION GROWTH FUND (ULIF-030-07/01/09-PNGWTFND-107) 33 KOTAK PENSION FLOOR FUND (ULIF-031-13/07/09-PNFLRFND-107) 34 PENSION FLOOR FUND II (ULIF-043-08/01/10-PNFLRKFND2-107 ) 35 KOTAK PENSION BALANCED FUND (ULIF-011-27/06/03-PNBALFND-107 ) 36 PENSION BALANCED FUND II (ULIF-046-24/01/10-PNBALFND2-107) 37 KOTAK PENSION BOND FUND (ULIF-017-15/04/04-PNBNDFND-107) 38 KOTAK PENSION GILT FUND (ULIF-008-27/06/03-PNGLTFND-107) 39 KOTAK PENSION FLOATING RATE FUND (ULIF-022-07/12/04-PNFLTRFND-107) 40 PENSION MONEY MARKET FUND II (ULIF-039-28/12/09-PNMNMKFND-107) 41 KOTAK ADVANTAGE MULTIPLIER FUND II (ULIF-026-21/04/06-ADVMULFND2-107) 42 DISCONTINUED POLICY FUND (ULIF-050-23/03/11-DISPOLFND-107) 43 PEAK GUARANTEE FUND I (ULIF-049-14/02/10-PKGRTFND1-107) 26 GROUP FUNDS Click on the Fund Name for details KOTAK GROUP DYNAMIC FLOOR FUND (ULGF-015-07/01/10-DYFLRFND-107) 45 KOTAK GROUP BALANCED FUND (ULGF-003-27/06/03-BALFND-107) 46 KOTAK GROUP SECURE CAPITAL FUND (ULGF-016-12/04/11-SECCAPFND-107) 51 KOTAK GROUP SHORT TERM BOND FUND (ULGF-018-18/12/13-SHTRMBND-107) 52 KOTAK GROUP BOND FUND (ULGF-004-15/04/04-BNDFND-107) 47 ANNEXURE 53 KOTAK GROUP GILT FUND (ULGF-002-27/06/03-GLTFND-107) 48 DISCLAIMER 59 KOTAK GROUP FLOATING RATE FUND (ULGF-005-07/12/04-FLTRFND-107) 49 KOTAK GROUP MONEY MARKET FUND (ULGF-001-27/06/03-MNMKFND-107) 50 01

MARKET OUTLOOK MARKET OUTLOOK Month Gone By Markets Indian equities were down 5% (Sensex) during the month as global markets were jittery on concerns over monetary policy normalization by major central banks and concerns over 1. Large fraud at PNB raising concerns of fresh NPA in banking sector; 2. Rising bond yields due to concerns on fiscal and CAD and 3. Introduction of a 10% tax on long term capital gains on equities in the FY19. In the sixth bimonthly monetary policy review for FY18, RBI left the benchmark repo interest rate unchanged at 6.0% and the policy stance neutral. Midcap stocks performed better than large cap with Nifty Mid-cap and Small-cap Indices outperforming Nifty by 1.9% and 1.2%, respectively. Indices Performance Feb-18 Jan-18 1 month Change Sensex 34,184.0 35,965.0-5.0% Nifty 10,492.9 11,027.7-4.9% Nifty Midcap 50 5,193.0 5,354.0-3.0% Nifty SmallCap 50 Bond Market 4,409.0 4,577.5-3.7% 10 yr Gsec 7.7% 7.4% 0.30% Commodities Gold(USD/oz) 1,318.3 1,345.1-2.0% Brent Crude(USD/bbl) 65.8 69.1-4.7% 10 year benchmark yield increased meaningful by 30bps in February to 7.7%. Bond markets sold off post the budget on concerns of fiscal slippage and rising inflation. Bond yields have risen by 130bps since August. Crude oil prices were down 4.7% during the month. INR depreciated by 2.5% during the month. Foreign Institutional Investors (FIIs) turned sellers of Indian equities in February with record equity outflows at USD1.7bn - the largest monthly outflow since Aug-17. FIIs reversed most of the inflows witnessed in January, with YTD net equity inflows now at USD0.4bn. DIIs remain net equity buyers for the 11th consecutive month at USD 2.3bn, the largest monthly inflow since Sep-17. YTD DII inflows are at USD2.4bn. Mutual funds continued the strong momentum of inflows at USD2.1bn, the 19th consecutive month of net buying. YTD mutual fund inflows are at USD 3.5bn, the largest Jan-Feb inflow since data available from 2008. Other Domestic Institutional Investors turned net equity buyers at USD 300mn after three consecutive months of outflows taking the YTD flows to USD 1 bn. FII flows in debt turned negative at USD 153mn, post strong inflows at USD 1.5bn in January. Net FII Flows (USD b) Net DII Flows (USD b) Currency USD/INR 65.2 63.6-2.5% Net Flows (USD Bn) Feb-18 Jan-18 CY18 3.7 8.1 5.4 5.3 17.8 29.3 16.9 17.6 24.5 16.1 20.0 5.9-12.2-4.7-0.5-10.9-13.0-5.1 14.1 9.4 5.4 3.4 2.9 7.8 2.4 0.4 FII () -1.7 2.0 0.4 FII () -0.2 1.4 1.2 DII () 2.3 0.1 2.4 CY06 CY07 CY08 CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 YTD CY18 02

MARKET OUTLOOK Economy Economy Dec-17 Nov-17 Oct-17 IIP 7.1% 8.4% 2.2% Economy Jan-18 Dec-17 Nov-17 CPI 5.1% 5.2% 4.9% WPI 2.8% 3.6% 3.9% Trade Deficit (USD Bn) 16.3 14.9 13.8 India s 3QFY18 GDP print came in much higher than expectations at 7.2% accelerating further from an upwardlyrevised 6.5% in 2QFY18. Index of Industrial Production (IIP) growth accelerated sharply to 7.1% in December after 8.4% in November partly reflecting some sequential pickup and favorable base effect. Manufacturing sector increased 8.4%, owing to strong rebound in capital goods (16.4%) and consumer nondurables (16.5%). Electricity accelerated 4.4% while mining increased 1.2%. Consumer Price Index (CPI) eased to 5.07% in January after 5.21% in December. Sharp contraction in food inflation ((-)1.2%m/m) countered sequential increase in housing (reflecting staggered impact of center s HRA) and transport and communication prices. Food inflation eased to 4.7% from 5% in December. Core inflation was stable at 5.0%. WPI inflation was at 2.8% after 3.6% in December. WPI eased to a six month low as food articles softened. However, Core manufactured products inflation increased to 3.4% from 3.1% in December, reflecting a broad based pickup in global commodity prices. Trade deficit in January rose to 5 year high to USD 16.3bn vs USD 14.8bn in the previous month. The main reason for the widening was weakness in exports and strength in imports ex. oil and gold. Exports grew at 9.1% in January as against 26.1% growth in imports. Non oil imports excluding gold and precious stone grew at 22.1% as against 6.5% in December. Market Outlook Sectoral indices Feb-18 Jan-18 % Chg 1mth Auto 11,157.2 11,611.9-3.9% Bank Nifty 25,107.4 27,379.5-8.3% Energy 13,991.5 14,454.0-3.2% Infra 3,452.4 3,619.5-4.6% IT 12,809.0 12,986.4-1.4% Events impacting market 3QFY18 results season indicates signs of a moderate domestic economic recovery and positive developments albeit some of the recovery is also attributed to a low demon base; In the results so far there has been (1) decent volume growth rebound (2) gross margin contraction across the board (3) volume growth not fully offsetting the margin compression leading to operating margins decline (4) likely stronger global economic growth commentary expected in CY2018 especially in US and Europe. A combination of supportive global growth, improving capex, fiscal spending and a buoyant consumer augur well for growth. Corporate India s earnings and balance sheet recession is over and free cash flow is very strong. 03

MARKET OUTLOOK markets will wait for an uptick in (Non Performing Loans) and the repair of GST revenues from 2QCY18 and downturn the balance sheets of corporate private in inflation from 2HCY18 before reacting sector banks and state owned banks either way. Any disappointment will lead would play a role in the revival of private sector investments in India. In this regard, to lower equity market multiples. the plan to infuse INR2.11Trn of capital For earnings recovery, a recovery into Public sector banks through a mix of in overall capital formation cycle would recapitalization bonds, capital infusion as be a key factor apart from growth in planned in the budget and fresh raise from consumption. While the key driver for the market, stands in good stead. Over capex in the economy would continue to time as the resolution of big ticket NPLs be public spend, the private capex cycle gather pace, the cycle of low capital and should also benefit from three years of low low growth could be broken, resulting in a average lending rates, better corporate pick-up in credit growth.low growth could profitability, easier availability of credit be broken, resulting in a pick-up in credit from the banking system, higher equity growth. raising from a buoyant market, more FDI Strong growth in household financial into manufacturing and infrastructure and savings (including equities) in the medium a renewed focus on housing. Public capex term is expected on the back of (1) a growth is likely to remain healthy with a favorable monetary policy for financial focus on roads, rural development and savings in the form of positive real affordable housing.into manufacturing interest rates, (2) favorable government and infrastructure and a renewed focus on policy on financial inclusion and (3) housing. Public capex growth is likely to unfavorable government policy towards remain healthy with a focus on roads, rural black money including the recent action development and affordable housing. of demonetization, which will likely divert Apart from the factors mentioned household savings into financial savings, above, the pace of resolution of NPLs away from physical savings over a period of time. Equities can react in the coming months based on following events:- Oil prices, a busy election calendar, prospects of a higher fiscal deficit and the likelihood of a meaningful rise in equity supply are some of the known headwinds even as household balance sheets rebalancing toward equities is unabated. The reduction in expansion of global central bank s balance sheets would impact flows in emerging markets. The resultant impact this on Bond and markets remains to be seen. Unexpected global and domestic events derailed earnings in FY2014-16. Valuations for the broad market look more reasonable in the context of earnings growth and bond yields. 60% of the net profits of the Nifty-50 Index does not depend on India s GDP growth as their revenues, profits and profitability 04

MARKET OUTLOOK largely depend on global factors and/or regulations (1) global GDP growth in the case of IT, (2) global commodity prices or profitability in the case of metals and oil & gas and (3) regulations in the case of regulated utilities. Any major negative surprises in the case of earnings of the aforementioned sectors is not anticipated. Corporate earnings growth trajectory would be key factor to determine the path of domestic markets. Nifty P/B Peak Min Average Median 6.4 6 4 3.6 3.5 3.7 2.1 2 Feb-03 Feb-04 Feb-05 Feb-06 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Source: NSE Market Outlook RBI in its sixth Bi-monthly Monetary Policy kept policy rates unchanged at 6.0%. 10 year benchmark G-sec fell 30 bps and closed at 7.73% which is highest closing since Feb 2016. RBI estimated CPI inflation for FY19 to be in the range of 5.1%-5.6% in H1, including diminishing statistical HRA impact of central government employees, and 4.5-4.6 per cent in H2, with risks tilted to the upside. The projected moderation in inflation in the second half is on account of strong favourable base effects, including unwinding of the 7th CPC s HRA impact, and a softer food inflation forecast, given the assumption of normal monsoon and effective supply management by the Government. GVA growth for 2017-18 is projected at 6.6 per cent. GVA growth for 2018-19 is projected at 7.2 per cent overall and estimated to be in the range of 7.3-7.4 per cent in H1 and 7.1-7.2 per cent in H2, with risks evenly balanced. The bond market activity witnessed thin volumes as PSU bank (largest buyers of Gilts) were not trading/buying since January this year. 05

MARKET OUTLOOK It is expected that RBI will maintain status quo or might turn slightly hawkish due to higher deficit, prevailing higher commodity prices, rising global bond yields and higher MSPs. The 10yr benchmark G-sec could trade in a range of 7.40-7.85% in the near term. 10.0% 9.0% 9.3% 8.0% 7.0% 7.73% 7.9% 6.0% 5.0% 5.3% 4.0% Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 10-Year India G-Sec Yield Annualised Source: Bloomberg 06

FUND PERFORMANCE OF ULIP FUNDS Funds available with insurance plans launched on & post Sept. 1, 2010. Returns As On 28th February 2018 Classic Opportunities Fund (AUM: ` 3,03,276.71 Frontline Fund (AUM: ` 58,764.54 Dynamic Floor Fund II (AUM: ` 60,614.07 Balanced Fund (AUM: ` 9,939.78 Guarantee Fund (AUM: ` 3,288.20 Kotak Dynamic Bond Fund (AUM: ` 1,01,034.83 Kotak Dynamic Gilt Fund (AUM: ` 4,800.14 Kotak Dynamic Floating Rate Fund (AUM: ` 1,967.84 Money Market Fund (AUM: ` 29,582.39 Discontinued Policy Fund (AUM: ` 17,728.88 1 month -4.1-4.4-2.6-3.0-2.6-1.4-0.9-0.1 0.4 0.4 3 months -0.7-0.5-1.6-1.1 0.3-2.3-2.0-0.2 1.5 1.4 6 months 3.6 3.6-0.4 0.9 1.7-2.8-2.8 0.8 3.0 2.8 1 year 17.7 16.7 7.7 10.4 10.1 2.8 3.4 4.5 6.2 5.8 2 years 26.1 24.0 13.5 16.2 12.3 7.7 8.0 6.3 6.8 6.2 3 years 9.4 8.9 5.3 7.6 5.2 6.5 6.5 6.5 7.2 6.7 4 years 20.0 18.2 10.0 14.1 9.9 9.2 9.7 7.6 7.6 7.2 5 years 17.6 16.7 8.2 12.7 8.1 7.7 7.7 8.2 7.8 7.4 6 years 16.2 15.1 8.2 12.0 8.2 8.3 8.4 8.3 8.1 7.8 7 years 14.3 13.0 7.6 10.9 7.6 8.6 8.4 8.2 8.1 n.a 10 years n.a n.a n.a n.a n.a 9.0 8.1 7.7 n.a n.a Inception 13.1 11.6 7.1 10.1 7.8 8.3 7.3 7.4 7.6 7.8 Funds available with insurance plans launched Prior to Sept. 1, 2010. Returns As On 28th February 2018 Kotak Opportunities Fund (AUM: ` 1,17,056.01 Kotak Aggressive Growth Fund (AUM: ` 30,263.87 Kotak Dynamic Growth Fund (AUM: ` 6,357.44 Dynamic Floor Fund (AUM: ` 1,01,544.90 Kotak Dynamic Balanced Fund (AUM: ` 2,206.01 1 month -4.3-4.7-3.7-2.6-3.2 3 months -1.0 0.2-0.9-1.7-1.2 6 months 3.2 3.8 2.1-0.6 1.0 1 year 17.0 16.2 13.4 7.5 10.6 2 years 25.4 23.9 20.0 13.0 16.5 3 years 8.6 8.1 8.0 5.3 7.5 4 years 19.4 17.8 15.9 9.8 14.2 5 years 17.0 16.3 14.5 7.9 12.8 6 years 15.5 14.7 13.4 7.8 12.2 7 years 13.6 12.6 11.7 7.2 10.9 10 years n.a 9.0 7.7 8.5 8.2 Inception 18.2 16.4 14.7 9.3 13.3 Returns As On 28th February 2018 Peak Guarantee Fund I (AUM: ` 1,685.10 Kotak Guaranteed Growth Fund (AUM: ` 76,115.92 Kotak Guaranteed Balanced Fund (AUM: ` 8,539.54 Pension Classic Opportunities Fund (AUM: ` 11,983.00 Kotak Pension Opportunities Fund (AUM: ` 2,545.04 Pension Frontline Fund (AUM: ` 2,551.85 Pension Guarantee Fund (AUM: ` 9,551.91 1 month -0.8-3.2-2.8-4.2-4.2-4.5-2.6 3 months 2.2-1.3-1.4-0.8-0.9-0.6 0.3 6 months 3.5 0.7 0.1 3.7 3.3 3.8 1.7 1 year 11.3 10.2 8.8 17.9 17.0 16.5 10.1 2 years 12.7 16.3 14.8 26.4 25.2 24.2 12.4 3 years 5.5 7.6 7.5 9.3 8.6 8.8 5.3 4 years 9.9 13.3 12.6 20.2 19.2 18.3 10.0 5 years 8.1 11.6 10.8 17.8 16.7 16.7 8.2 6 years 8.1 11.1 10.5 16.3 15.4 15.2 8.2 7 years 7.5 10.4 10.0 14.4 13.5 13.0 7.6 10 years n.a 6.5 7.2 n.a n.a n.a n.a Inception 7.4 13.3 12.1 13.6 12.4 12.5 7.1 07

FUND PERFORMANCE OF ULIP FUNDS Funds available with insurance plans launched Prior to Sept. 1, 2010. Returns As On 28th February 2018 Kotak Pension Growth Fund (AUM: ` 1,984.80 Kotak Pension Floor Fund (AUM: ` 4,220.93 Pension Floor Fund II (AUM: ` 6,236.08 Kotak Pension Balanced Fund (AUM: ` 16,270.31 Pension Balanced Fund II (AUM: ` 361.54 Kotak Pension Bond Fund (AUM: ` 5,355.19 Kotak Pension Gilt Fund (AUM: ` 806.52 Kotak Pension Floating Rate Fund (AUM: ` 267.27 Pension Money Market Fund II (AUM: ` 828.28 1 month -3.0-2.6-2.6-2.8-2.9-1.3-0.9-0.1 0.5 3 months -1.3-1.6-1.6-1.6-1.0-2.3-2.0-0.1 1.5 6 months 0.7-0.5-0.3-0.1 1.1-2.9-2.8 0.9 3.0 1 year 10.0 7.5 8.0 8.7 10.5 2.7 3.4 4.5 6.2 2 years 16.0 13.1 13.8 14.6 16.6 7.6 8.0 6.3 6.8 3 years 7.4 5.4 5.4 7.5 7.7 6.4 6.6 6.5 7.3 4 years 13.2 9.8 10.0 12.5 14.2 9.1 9.7 7.6 7.6 5 years 11.4 8.0 8.2 10.8 12.8 7.7 7.8 8.2 7.8 6 years 10.9 7.9 8.2 10.5 12.1 8.3 8.4 8.3 8.0 7 years 10.2 7.2 7.6 10.0 11.0 8.6 8.4 8.2 8.1 10 years n.a n.a n.a 7.3 n.a 9.1 8.2 7.7 n.a Inception 11.3 6.7 7.1 12.2 10.0 8.3 7.4 7.4 7.6 08

FUND PERFORMANCE OF ULIP FUNDS KOTAK GROUP PLANS Returns As On 28th February 2018 Kotak Group Dynamic Floor Fund (AUM: ` 353.71 Kotak Group Balanced Fund (AUM: ` 60,522.55 Kotak Group Bond Fund (AUM: ` 1,22,015.78 Kotak Group Gilt Fund (AUM: ` 4,202.38 Kotak Group Floating Rate Fund (AUM: ` 8,169.74 Kotak Group Money Market Fund (AUM: ` 7.21 Kotak Group Secure Capital (AUM: ` 46,291.39 1 month -2.1-3.1-1.3-0.9 0.0 0.4-1.2 3 months -1.4-1.0-2.2-1.9 0.1 1.2-2.0 6 months -0.4 1.2-2.6-2.6 1.0 2.4-2.4 1 year 6.7 11.0 3.4 3.7 5.0 4.9 3.5 2 years 12.1 17.1 8.2 8.2 6.9 4.5 8.0 3 years 5.1 8.0 6.9 6.8 7.0 5.5 6.8 4 years 9.8 14.7 9.7 10.0 8.0 6.3 9.4 5 years 8.0 13.3 8.2 8.0 8.7 n.a 8.1 6 years 8.1 12.5 8.8 8.6 8.8 n.a 8.6 7 years 7.5 11.3 9.1 8.6 8.7 n.a n.a 10 years n.a 8.3 9.7 8.4 8.1 n.a n.a Inception 6.9 13.5 8.8 7.5 7.8 6.7 8.9 KOTAK FIXED MATURITY PLANS Returns As On 28th February 2018 Kotak Group Short Term Bond Fund (AUM: ` 6,256.96 KOTAK PRIVILEDEGE ASSURANCE PLANS Returns As On 28th February 2018 Kotak Advantage Multiplier Fund II (AUM: ` 0.40 1 month -0.1 1 month 0.0 3 months -0.1 3 months -0.7 6 months 0.8 6 months -0.3 1 year 5.3 1 year 2.3 2 years 7.1 2 years 2.5 3 years n.a 3 years 3.3 4 years n.a 4 years 4.3 5 years n.a 5 years 4.1 6 years n.a 6 years 4.5 7 years n.a 7 years 4.1 10 years n.a 10 years 3.8 Inception 6.8 Inception 4.9 Returns less than or equal to a year are absolute. Returns greater than a year are compounded annualised. NO. OF FUNDS MANAGED BY FUND MANAGER Sr No. Balanced 1 Rohit Agarwal 7 NA 18 2 NA 15 25 Mr. Rohit Agarwal Mr. Rohit Agarwal has over 10 years of experience in capital markets, looks at the Unit Linked funds at Kotak Life Insurance. Before joining Kotak in 2011, Mr. Agarwal was associated with JP Morgan for about 6 years. Rohit is a Bachelor of Commerce (2001) and has done PGDBM, Symbiosis Pune (2005). Mr. CFA Mr. has overall experience of over a decade and has been associated with the Kotak Life Insurance since May 2008. His key responsibilities include management of fixed income portfolios in Unit Linked and managing alternative investments for the company. Kunal is a Bachelor of Commerce (2001), MBA (Finance), Sinhgad Institute, Pune (2004) and CFA (CFA Institute, USA) 09

PRODUCT - FUND MATRIX* Kotak Wealth Insurance Kotak Ace Investment Kotak Single Invest Advantage Kotak Headstart Child Assure Kotak Platinum Kotak Invest Maxima Classic Opportunities Fund ü ü ü ü ü ü Frontline Fund ü ü ü ü ü ü Balanced Fund ü ü r ü ü ü Funds Dynamic Bond Fund ü ü ü ü ü ü Dynamic Floating Rate Fund ü ü r ü ü r Money Market Fund ü ü ü ü ü ü Dynamic Gilt Fund ü ü ü ü ü r Discontinued Policy Fund ü ü ü ü ü ü *currently active plans 10

S CLASSIC OPPORTUNITIES FUND FRONTLINE EQUITY FUND DYNAMIC FLOOR FUND II BALANCED FUND KOTAK OPPORTUNITIES FUND KOTAK AGGRESSIVE GROWTH FUND GUARANTEE FUND MONEY MARKET FUND KOTAK DYNAMIC GROWTH FUND DYNAMIC FLOOR FUND KOTAK DYNAMIC BALANCED FUND KOTAK DYNAMIC BOND FUND KOTAK DYNAMIC GILT FUND KOTAK DYNAMIC FLOATING RATE FUND PEAK GUARANTEE FUND I KOTAK GUARANTEED GROWTH FUND KOTAK GUARANTEED BALANCED FUND PENSION CLASSIC OPPORTUNITIES FUND KOTAK PENSION OPPORTUNITIES FUND PENSION FRONTLINE EQUITY FUND PENSION GUARANTEE FUND KOTAK PENSION GROWTH FUND KOTAK PENSION FLOOR FUND PENSION FLOOR FUND II KOTAK PENSION BALANCED FUND PENSION BALANCED FUND II KOTAK PENSION BOND FUND KOTAK PENSION GILT FUND KOTAK PENSION FLOATING RATE FUND PENSION MONEY MARKET FUND II KOTAK ADVANTAGE MULTIPLIER FUND II DISCONTINUED POLICY FUND 11

CLASSIC OPPORTUNITIES FUND (ULIF-033-16/12/09-CLAOPPFND-107) Aims to maximize opportunity for you through long-term capital growth, by holding a significant portion in a diversified and flexible mix of large / medium sized company equities 16 th December 2009 AUM (in 3,03,276.71 AUM (in 14,130-903 Ratings Profile 8.96 27.5140 : : - 100% (BSE 200) Rohit Agarwal & Money 75-100 96 Gsec / 00-25 0 00-25 4 Classic Opportunities Fund 1 month -4.1-4.6 3 months -0.7 1.4 6 months 3.6 5.9 1 year 17.7 19.0 2 years 26.1 24.8 3 years 9.4 7.7 4 years 20.0 16.5 5 years 17.6 14.7 6 years 16.2 13.1 7 years 14.3 11.0 10 years n.a n.a Inception 13.1 9.9 0.08 2,90,050 Holdings % to Fund EQUITY 95.64 HDFC Bank Ltd 6.43 Reliance Industries Ltd 5.03 Infosys Ltd 4.01 Maruti Suzuki India Ltd 3.92 Kotak Banking ETF - Dividend Payout Option 3.78 IndusInd Bank Ltd 3.50 ICICI Bank Ltd 3.21 Britannia Industries Ltd 3.06 Larsen And Toubro Ltd 2.83 I T C Ltd 2.07 Hindustan Unilever Ltd 1.93 Yes Bank Ltd 1.72 Axis Bank Ltd 1.69 Tata Steel Ltd 1.67 Tech Mahindra Ltd 1.65 Motherson Sumi Systems Ltd 1.61 Petronet L N G Ltd 1.61 Bharti Airtel Ltd 1.57 SBI ETF Nifty Bank 1.55 Titan Industries Ltd 1.53 41.28 Corporate 0.42 4.5% SCB TATA STEEL ASBA FD - 13.03.2018 0.407 6.50% HDFC Bank FD NSE - 13.08.2018 0.004 6.50% HDFC Bank FD NSE - 28.07.2018 0.004 6.50% HDFC Bank FD BSE - 28.07.2018 0.00 MMI 4.24-0.30 91.04 Sector Allocation as per Mfg of coke and refined petroleum products Computer programming, consultancy and related Mfg of motor vehicles, trailers and semi-trailers Mfg of other transport equipment Mfg of basic metals Warehousing and support for transportation Mfg of food products Civil engineering Motion picture,video & TV programme production,sound recording 5.75 5.34 5.20 4.65 4.02 3.54 3.45 2.61 7.68 Fixed Deposit 23.79 33.97 12

FRONTLINE EQUITY FUND (ULIF-034-17/12/09-FRLEQUFND-107) Aims for a high level of capital growth for you, by holding a significant portion in large sized company equities AUM (in Ratings Profile 17 th December 2009 AUM (in 58,764.54 1,895 460 7.40 24.6693 56,410 92.60 Fixed Deposit : : - 100% (BSE 100) & Money Rohit Agarwal Frontline Fund 1 month -4.4-4.9 3 months -0.5 1.5 6 months 3.6 5.3 1 year 16.7 18.2 2 years 24.0 23.9 3 years 8.9 6.5 4 years 18.2 14.9 5 years 16.7 13.7 6 years 15.1 12.3 7 years 13.0 10.3 10 years n.a n.a Inception 11.6 9.3 0.06 60-100 96 Gsec / 00-40 0 00-40 4 Holdings % to Fund EQUITY 95.99 HDFC Bank Ltd 5.83 Infosys Ltd 5.25 IndusInd Bank Ltd 4.07 Reliance Industries Ltd 3.84 Kotak Banking ETF - Dividend Payout Option 3.80 I T C Ltd 3.45 Maruti Suzuki India Ltd 3.44 Reliance ETF Bank Bees 3.43 ICICI Bank Ltd 2.96 Larsen And Toubro Ltd 2.79 Zee Entertainment Enterprises Ltd 2.57 Tech Mahindra Ltd 2.36 Bharat Petroleum Corporation Ltd 2.14 Britannia Industries Ltd 2.08 Hindustan Unilever Ltd 1.99 Vedanta Ltd 1.76 Sun Pharmaceuticals Ltd 1.67 Havells India Ltd 1.58 Indraprastha Gas Ltd 1.53 Motherson Sumi Systems Ltd 1.44 38.01 Corporate 0.24 4.5% SCB TATA STEEL ASBA FD - 13.03.2018 0.229 6.50% HDFC Bank FD NSE - 28.07.2018 0.004 6.50% HDFC Bank FD NSE - 13.08.2018 0.004 6.50% HDFC Bank FD BSE - 28.07.2018 0.00 MMI 2.99 0.78 Sector Allocation as per Computer programming, consultancy and related Mfg of coke and refined petroleum products Mfg of motor vehicles, trailers and semi-trailers Motion picture,video & TV programme production,sound recording Warehousing and support for transportation Mfg of food products Mfg of basic metals Mfg of tobacco products Civil engineering 5.98 4.85 4.16 3.96 3.55 3.46 3.45 2.96 7.61 32.75 27.29 13

DYNAMIC FLOOR FUND II (ULIF-035-17/12/09-DYFLRFND2-107) Aims to provide you with stable long-term inflation beating growth over medium to long-term and defend your capital against short-term capital shocks. 17 th December 2009 AUM (in 60,614.07 17.5565 : : - 37.5% (Nifty); - 62.5% (Crisil Bond) & Money Rohit Agarwal 6.33 00-75 40 Gsec / 00-100 58 00-40 2 Dynamic Floor Fund II 1 month -2.6-2.2 3 months -1.6 0.1 6 months -0.4 1.3 1 year 7.7 9.4 2 years 13.5 13.4 3 years 5.3 7.1 4 years 10.0 11.3 5 years 8.2 10.3 6 years 8.2 9.9 7 years 7.6 9.3 10 years n.a n.a Inception 7.1 8.7 AUM (in 35,677 Holdings 889 24,048 % to Fund EQUITY 39.67 HDFC Bank Ltd 2.34 Infosys Ltd 2.12 IndusInd Bank Ltd 1.64 Kotak Banking ETF - Dividend Payout Option 1.64 Reliance Industries Ltd 1.54 Reliance ETF Bank Bees 1.48 Maruti Suzuki India Ltd 1.41 I T C Ltd 1.38 ICICI Bank Ltd 1.21 Zee Entertainment Enterprises Ltd 1.05 Tech Mahindra Ltd 0.98 Larsen And Toubro Ltd 0.89 Britannia Industries Ltd 0.87 Bharat Petroleum Corporation Ltd 0.87 Hindustan Unilever Ltd 0.82 Shree Cement Ltd 0.81 Vedanta Ltd 0.74 Sun Pharmaceuticals Ltd 0.70 Havells India Ltd 0.66 Indraprastha Gas Ltd 0.65 15.89 G-Sec 40.71 7.17% GOI - 08.01.2028 17.20 8.13% GOI - 22.06.2045 5.29 8.22% NABARD - 25.02.2028 3.75 6.68% GOI - 17.09.2031 2.88 1.44% INFLATION INDEX GS 2023 1.19 7.18% PFC - 20.01.2027 1.04 6.57% GOI - 05.12.2033 0.99 8.28% RJ SDL - 21.02.2028 0.92 7.16% NABARD - 12.01.2032 0.92 8.28% TN SDL -21.02.2028 0.82 5.71 Corporate 17.29 8.27% REC - 06.02.2025 1.39 8.79% IRFC - 04.05.2030 0.92 8.23% REC - 23.01.2025 0.80 8.90% SAIL - 01.05.2019 CALL 01.05.2014 0.76 7.33% IRFC - 28.08.2027 0.74 8.18% EXIM- 07.12.2025 0.70 7.49% IRFC - 30.05.2027 0.62 7.56% EXIM- 18.05.2027 0.61 9.69% Tata Sons - 12.06.2022 0.58 8.57% REC - 21.12.2024 0.52 9.65 MMI 0.86 1.47 Ratings Profile 26.89 Sector Allocation as per State Development Loan Computer programming, consultancy and related Electricity, gas, steam and air conditioning supply Mfg of coke and refined petroleum products Mfg of basic metals Mfg of motor vehicles, trailers and semi-trailers Motion picture,video & TV programme production,sound recording Warehousing and support for transportation 1.35 0.23 Govt & Govt 1.47 0.90 Guaranteed Bonds AAA 69.16 3.10 3.03 2.40 2.23 1.99 1.72 1.61 5.08 AA- AA+ Fixed Deposit 16.27 28.62 33.95 14

BALANCED FUND (ULIF-037-21/12/09-BALKFND-107) Aims for moderate growth for you by holding a diversified mix of equities and fixed interest instruments. 21 st December 2009 AUM (in 9,939.78 22.0579 : : Rohit Agarwal - 60% (BSE 100); - 40% (Crisil Bond) & Money Balanced Fund 1 month -3.0-3.2 3 months -1.1 0.4 6 months 0.9 2.7 1 year 10.4 12.6 2 years 16.2 17.4 3 years 7.6 7.2 4 years 14.1 13.0 5 years 12.7 11.8 6 years 12.0 11.0 7 years 10.9 9.8 10 years n.a n.a Inception 10.1 9.1 5.61 30-60 53 Gsec / 20-70 40 00-40 7 AUM (in 4,553 Holdings 115 5,272 % to Fund EQUITY 53.04 HDFC Bank Ltd 3.23 Infosys Ltd 2.93 IndusInd Bank Ltd 2.26 Kotak Banking ETF - Dividend Payout Option 2.25 Reliance Industries Ltd 2.15 I T C Ltd 1.97 Maruti Suzuki India Ltd 1.93 ICICI Bank Ltd 1.88 Larsen And Toubro Ltd 1.54 Zee Entertainment Enterprises Ltd 1.44 Tech Mahindra Ltd 1.38 Reliance ETF Bank Bees 1.23 Bharat Petroleum Corporation Ltd 1.20 Britannia Industries Ltd 1.16 Hindustan Unilever Ltd 1.12 Vedanta Ltd 0.99 Sun Pharmaceuticals Ltd 0.96 Havells India Ltd 0.89 Shree Cement Ltd 0.85 Indraprastha Gas Ltd 0.82 20.85 G-Sec 30.01 7.17% GOI - 08.01.2028 11.89 8.13% GOI - 22.06.2045 3.55 8.22% NABARD - 25.02.2028 2.61 8.15% GOI FCI Bonds - 16.10.22 2.53 6.68% GOI - 17.09.2031 2.16 8.28% RJ SDL - 21.02.2028 0.63 6.57% GOI - 05.12.2033 0.59 7.65% TN SDL -06.12.2027 0.56 7.18% PFC - 20.01.2027 0.56 8.28% TN SDL -21.02.2028 0.56 4.37 Corporate 10.19 8.27% REC - 06.02.2025 0.90 8.79% IRFC - 04.05.2030 0.64 9.61% REC - 03.01.2019 0.51 8.23% REC - 23.01.2025 0.50 10.08% IOT Utkal Energy Services Limited - 20.03.2025 0.50 8.18% EXIM- 07.12.2025 0.50 7.33% IRFC - 28.08.2027 0.47 10.08% IOT Utkal Energy Services Limited - 20.03.2026 0.39 7.56% EXIM- 18.05.2027 0.38 7.49% IRFC - 30.05.2027 0.38 5.03 MMI 5.60 1.16 Ratings Profile 21.09 12.23 Sector Allocation as per Computer programming, consultancy and related State Development Loan Mfg of coke and refined petroleum products Wholesale trade, except of motor vehicles and motorcycles Mfg of motor vehicles, trailers and semi-trailers Motion picture,video & TV programme production,sound recording Mfg of basic metals Warehousing and support for transportation 0.44 0.28 Govt & Govt 0.44 Guaranteed Bonds AAA 65.52 4.31 3.81 3.35 2.75 2.74 2.34 2.14 2.11 AA- AA+ Fixed Deposit 22.01 20.66 33.78 15

KOTAK OPPORTUNITIES FUND (ULIF-029-02/10/08-OPPFND-107) Aims to maximize opportunity for long term capital growth, by holding a significant portion in a diversified and flexible mix of large/medium sized company equities. AUM (in Ratings Profile 02 nd October 2008 AUM (in 1,17,056.01 48.3931 1,446 957 1,14,653 44.58 55.42 Fixed Deposit : : Rohit Agarwal - 100% (BSE 200) & Money Opportunities Fund 1 month -4.3-4.6 3 months -1.0 1.4 6 months 3.2 5.9 1 year 17.0 19.0 2 years 25.4 24.8 3 years 8.6 7.7 4 years 19.4 16.5 5 years 17.0 14.7 6 years 15.5 13.1 7 years 13.6 11.0 10 years n.a n.a Inception 18.2 11.8 0.06 75-100 98 Gsec / 00-25 1 00-25 2 Holdings % to Fund EQUITY 97.95 HDFC Bank Ltd 6.53 Reliance Industries Ltd 4.97 Infosys Ltd 4.25 Maruti Suzuki India Ltd 4.11 Kotak Banking ETF - Dividend Payout Option 3.86 ICICI Bank Ltd 3.43 IndusInd Bank Ltd 3.43 Britannia Industries Ltd 3.13 Larsen And Toubro Ltd 2.92 I T C Ltd 2.16 Hindustan Unilever Ltd 2.02 Tata Steel Ltd 1.84 Axis Bank Ltd 1.75 Yes Bank Ltd 1.72 Motherson Sumi Systems Ltd 1.71 Tech Mahindra Ltd 1.67 Petronet L N G Ltd 1.62 Titan Industries Ltd 1.57 SBI ETF Nifty Bank 1.56 Eicher Motors Ltd 1.54 42.18 Corporate 0.55 4.5% SCB TATA STEEL ASBA FD - 13.03.2018 0.45 6.50% HDFC Bank FD NSE - 13.08.2018 0.04 6.50% HDFC Bank FD NSE - 28.07.2018 0.04 6.50% HDFC Bank FD BSE - 28.07.2018 0.02 MMI 0.68 0.82 Sector Allocation as per Mfg of coke and refined petroleum products Computer programming, consultancy and related Mfg of motor vehicles, trailers and semi-trailers Mfg of other transport equipment Mfg of basic metals Warehousing and support for transportation Mfg of food products Civil engineering Motion picture,video & TV programme production,sound recording 5.51 5.47 4.72 4.17 3.68 3.62 2.69 7.78 5.92 24.80 31.65 16

KOTAK AGGRESSIVE GROWTH FUND (ULIF-018-13/09/04-AGRGWTFND-107) Aims for a high level of capital growth by holding a significant portion in large sized company equities. AUM (in Ratings Profile 13 th September 2004 AUM (in 30,263.87 394 269 43.76 77.4689 29,601 56.24 Fixed Deposit : : - 100% (BSE 100) & Money Rohit Agarwal Aggressive Growth Fund 1 month -4.7-4.9 3 months 0.2 1.5 6 months 3.8 5.3 1 year 16.2 18.2 2 years 23.9 23.9 3 years 8.1 6.5 4 years 17.8 14.9 5 years 16.3 13.7 6 years 14.7 12.3 7 years 12.6 10.3 10 years 9.0 7.6 Inception 16.4 13.7 0.10 60-100 98 Gsec / 00-40 1 00-40 2 Holdings % to Fund EQUITY 97.81 HDFC Bank Ltd 6.49 Infosys Ltd 5.51 IndusInd Bank Ltd 4.53 Maruti Suzuki India Ltd 4.11 Kotak Banking ETF - Dividend Payout Option 4.09 Reliance ETF Bank Bees 3.76 I T C Ltd 3.70 Reliance Industries Ltd 3.52 ICICI Bank Ltd 3.36 Larsen And Toubro Ltd 3.11 Zee Entertainment Enterprises Ltd 2.99 Bharat Petroleum Corporation Ltd 2.63 Britannia Industries Ltd 2.48 Tech Mahindra Ltd 2.38 Shree Cement Ltd 2.26 Vedanta Ltd 2.22 Hindustan Unilever Ltd 2.20 Sun Pharmaceuticals Ltd 1.94 Titan Industries Ltd 1.83 Bata India Ltd 1.82 32.87 Corporate 0.57 4.5% SCB TATA STEEL ASBA FD - 13.03.2018 0.23 6.50% HDFC Bank FD NSE - 28.07.2018 0.14 6.50% HDFC Bank FD NSE - 13.08.2018 0.14 6.50% HDFC Bank FD BSE - 28.07.2018 0.06 MMI 0.73 0.89 Sector Allocation as per Computer programming, consultancy and related Mfg of coke and refined petroleum products Mfg of motor vehicles, trailers and semi-trailers Warehousing and support for transportation Mfg of food products Motion picture,video & TV programme production,sound recording Mfg of basic metals Mfg of tobacco products Mfg of other non-metallic mineral products 6.14 5.55 4.39 4.34 4.03 3.97 3.70 3.22 7.89 24.82 31.94 17

GUARANTEE FUND (ULIF-048-05/02/10-GRTFND-107) Fund Investment Strategy Objective of The Fund Aims to provide stable, long-term inflation beating growth over medium to long-term and defend capital against short-term capital shocks AUM (in Ratings Profile 05 th February 2010 AUM (in 3,288.20 22 1,142 14.67 0.47 0.38 Govt & Govt Guaranteed Bonds AAA 18.3648 2,124 35.53 48.95 AA- Fixed Deposit : : - 37.5% (Nifty); - 62.5% (Crisil Bond) & Money Rohit Agarwal Guarantee Fund 1 month -2.6-2.2 3 months 0.3 0.1 6 months 1.7 1.3 1 year 10.1 9.4 2 years 12.3 13.4 3 years 5.2 7.1 4 years 9.9 11.3 5 years 8.1 10.3 6 years 8.2 9.9 7 years 7.6 9.3 10 years n.a n.a Inception 7.8 9.1 4.22 00-75 35 Gsec / 00-100 42 00-100 24 Holdings % to Fund EQUITY 34.73 Reliance Industries Ltd 2.90 HDFC Bank Ltd 2.42 Infosys Ltd 2.06 I T C Ltd 2.03 Housing Development Finance Corp. Ltd 1.81 Larsen And Toubro Ltd 1.56 Tata Consultancy Services Ltd 1.33 ICICI Bank Ltd 1.26 Maruti Suzuki India Ltd 1.19 Hindustan Unilever Ltd 1.06 Sun Pharmaceuticals Ltd 0.71 Mahindra & Mahindra Ltd 0.69 Tata Motors Ltd 0.68 Bharti Airtel Ltd 0.66 Oil & Natural Gas Corporation Ltd 0.63 State Bank of India 0.62 Vedanta Ltd 0.62 National Thermal Power Corporation Ltd 0.61 Asian Paints Ltd 0.58 Hero Honda Motors Ltd 0.58 10.75 G-Sec 31.62 7.17% GOI - 08.01.2028 13.21 8.13% GOI - 22.06.2045 3.91 8.22% NABARD - 25.02.2028 2.73 6.68% GOI - 17.09.2031 2.03 1.44% INFLATION INDEX GS 2023 1.00 7.18% PFC - 20.01.2027 0.85 7.16% NABARD - 12.01.2032 0.83 8.15% GOI FCI Bonds - 16.10.22 0.76 8.28% RJ SDL - 21.02.2028 0.66 6.57% GOI - 05.12.2033 0.66 4.97 Corporate 10.03 8.27% REC - 06.02.2025 1.21 8.79% IRFC - 04.05.2030 0.64 9.85% HDFC Bank 2019-17.03.2024 CALL 17.03.2019 0.62 8.23% REC - 23.01.2025 0.60 8.18% EXIM- 07.12.2025 0.60 7.56% EXIM- 18.05.2027 0.58 7.33% IRFC - 28.08.2027 0.57 9.30% PGC - 28.06.2024 0.40 9.30% PGC - 28.06.2022 0.40 9.69% Tata Sons - 12.06.2022 0.31 4.10 MMI 22.95 0.67 Sector Allocation as per Computer programming, consultancy and related State Development Loan Mfg of coke and refined petroleum products Mfg of motor vehicles, trailers and semi-trailers Electricity, gas, steam and air conditioning supply Mfg of tobacco products Mfg of chemicals and chemical products Mfg of basic metals 4.47 3.87 3.80 2.56 2.54 2.03 1.93 1.88 9.56 22.51 44.85 18

MONEY MARKET FUND (ULIF-041-05/01/10-MNMKKFND-107) Aims to protect your capital and not have downside risks AUM (in Ratings Profile 05 th January 2010 13.93 A1+ AUM (in 29,582.39 36.08 Govt & Govt Guaranteed Bonds 18.1511 29,583 49.99 : Holdings % to Fund MMI 100.00-0.001 Sector Allocation as per - 0% (NA); - 100% (Crisil Liquid) 48.46 & Money 0.32 36.08 100 100 Mfg of motor vehicles, trailers and semi-trailers 8.04 Money Market Fund 1 month 0.4 0.5 3 months 1.5 1.6 6 months 3.0 3.2 1 year 6.2 6.7 2 years 6.8 7.0 3 years 7.2 7.4 4 years 7.6 7.8 Wholesale trade, except of motor vehicles and motorcycles 7.41-0.001 5 years 7.8 8.1 6 years 8.1 8.1 7 years 8.1 8.2 10 years n.a n.a Inception 7.6 7.8 19

KOTAK DYNAMIC GROWTH FUND (ULIF-012-27/06/03-DYGWTFND-107) Aims for a high level of capital growth by holding a significant portion in large sized company equities. AUM (in Ratings Profile 27 th June 2003 AUM (in 6,357.44 1,389 76 13.24 1.03 Govt & Govt 2.17 Guaranteed Bonds AAA Fixed Deposit 75.0528 4,893 83.56 : : - 80% (BSE 100); - 20% (Crisil Bond) & Money Rohit Agarwal Kotak Dynamic Growth Fund 1 month -3.7-4.0 3 months -0.9 0.9 6 months 2.1 4.0 1 year 13.4 15.4 2 years 20.0 20.7 3 years 8.0 6.9 4 years 15.9 14.0 5 years 14.5 12.8 6 years 13.4 11.7 7 years 11.7 10.1 10 years 7.7 8.0 Inception 14.7 13.6 7.21 40-80 77 Gsec / 20-60 22 00-40 1 Holdings % to Fund EQUITY 76.96 HDFC Bank Ltd 4.57 Infosys Ltd 4.20 IndusInd Bank Ltd 3.20 Kotak Banking ETF - Dividend Payout Option 3.11 Reliance Industries Ltd 2.95 Maruti Suzuki India Ltd 2.73 Reliance ETF Bank Bees 2.71 I T C Ltd 2.71 ICICI Bank Ltd 2.41 Larsen And Toubro Ltd 2.16 Zee Entertainment Enterprises Ltd 2.03 Tech Mahindra Ltd 1.86 Bharat Petroleum Corporation Ltd 1.70 Britannia Industries Ltd 1.60 Hindustan Unilever Ltd 1.59 Vedanta Ltd 1.53 Sun Pharmaceuticals Ltd 1.39 Indraprastha Gas Ltd 1.35 Havells India Ltd 1.30 Bata India Ltd 1.27 30.61 G-Sec 18.25 8.13% GOI - 22.06.2045 3.20 8.17% GOI - 01.12.2044 3.05 8.30% GOI - 31.12.2042 2.93 8.97% GOI - 05.12.2030 2.38 8.30% GOI - 02.07.2040 1.22 7.16% GOI - 20.05.2023 0.86 6.68% GOI - 17.09.2031 0.77 8.42% TN SDL - 25.08.2020 0.64 8.15% GOI FCI Bonds - 16.10.22 0.62 8.13% OMC GOI Special Bond - 16.10.21 0.40 2.20 Corporate 3.37 9.36% IDFC Bank - 21.08.24 0.80 9.85% HDFC Bank 2019-17.03.2024 CALL 17.03.2019 0.48 11.15% REC - 24.10.2018 0.48 9.70% PFC - 15.12.2018 0.48 9.02% REC - 19.11.2022 0.33 4.5% SCB TATA STEEL ASBA FD - 13.03.2018 0.18 9.75% REC - 11.11.2021. 0.17 8.23% REC - 23.01.2025 0.16 6.50% HDFC Bank FD NSE - 28.07.2018 0.12 6.50% HDFC Bank FD NSE - 13.08.2018 0.12 0.06 MMI 0.22 1.19 Sector Allocation as per Computer programming, consultancy and related Mfg of coke and refined petroleum products Mfg of motor vehicles, trailers and semi-trailers Motion picture,video & TV programme production,sound recording Warehousing and support for transportation Mfg of basic metals Mfg of food products Mfg of tobacco products 4.64 3.84 3.38 3.23 2.89 2.76 2.71 6.05 16.45 27.54 26.51 20

DYNAMIC FLOOR FUND (ULIF-028-14/11/06-DYFLRFND-107) Aims to provide you with stable long-term inflation beating growth over medium to long-term and defend your capital against short-term capital shocks. 14 th November 2006 AUM (in 1,01,544.90 27.1762 : : - 37.5% (Nifty); - 62.5% (Crisil Bond) & Money Rohit Agarwal Dynamic Floor Fund 1 month -2.6-2.2 3 months -1.7 0.1 6 months -0.6 1.3 1 year 7.5 9.4 2 years 13.0 13.4 3 years 5.3 7.1 4 years 9.8 11.3 5 years 7.9 10.3 6 years 7.8 9.9 7 years 7.2 9.3 10 years 8.5 8.0 Inception 9.3 8.7 6.30 00-75 39 Gsec / 00-100 59 00-40 2 AUM (in 60,783 Holdings 1,493 39,269 % to Fund EQUITY 38.67 HDFC Bank Ltd 2.29 Infosys Ltd 2.11 IndusInd Bank Ltd 1.60 Kotak Banking ETF - Dividend Payout Option 1.54 Reliance Industries Ltd 1.50 Reliance ETF Bank Bees 1.47 Maruti Suzuki India Ltd 1.38 I T C Ltd 1.29 ICICI Bank Ltd 1.19 Larsen And Toubro Ltd 1.08 Zee Entertainment Enterprises Ltd 1.02 Tech Mahindra Ltd 0.95 Bharat Petroleum Corporation Ltd 0.85 Britannia Industries Ltd 0.80 Hindustan Unilever Ltd 0.80 Shree Cement Ltd 0.74 Vedanta Ltd 0.73 Sun Pharmaceuticals Ltd 0.68 Indraprastha Gas Ltd 0.68 Havells India Ltd 0.64 15.34 G-Sec 41.25 7.17% GOI - 08.01.2028 17.49 8.13% GOI - 22.06.2045 5.31 8.22% NABARD - 25.02.2028 3.91 6.68% GOI - 17.09.2031 2.88 1.44% INFLATION INDEX GS 2023 1.09 7.18% PFC - 20.01.2027 1.03 6.57% GOI - 05.12.2033 0.98 7.16% NABARD - 12.01.2032 0.93 8.28% RJ SDL - 21.02.2028 0.92 8.28% TN SDL -21.02.2028 0.82 5.90 Corporate 17.80 8.27% REC - 06.02.2025 1.40 8.79% IRFC - 04.05.2030 0.95 8.23% REC - 23.01.2025 0.80 7.33% IRFC - 28.08.2027 0.74 8.90% SAIL - 01.05.2019 CALL 01.05.2014 0.72 8.18% EXIM- 07.12.2025 0.70 7.49% IRFC - 30.05.2027 0.63 7.56% EXIM- 18.05.2027 0.61 9.69% Tata Sons - 12.06.2022 0.54 8.57% REC - 21.12.2024 0.51 10.20 MMI 0.81 1.47 Ratings Profile 27.00 68.92 Sector Allocation as per State Development Loan Electricity, gas, steam and air conditioning supply Computer programming, consultancy and related Mfg of coke and refined petroleum products Mfg of basic metals Mfg of motor vehicles, trailers and semi-trailers Motion picture,video & TV programme production,sound recording 1.32 0.26 Govt & Govt 1.351.15 Guaranteed Bonds AAA Warehousing and support for transportation 3.23 3.07 2.35 2.21 1.94 1.69 1.62 5.32 AA- AA+ Fixed Deposit 15.94 33.83 28.80 21

KOTAK DYNAMIC BALANCED FUND (ULIF-009-27/06/03-DYBALFND-107) Aims for moderate growth by holding a diversified mix of equities and fixed interest instruments. AUM (in Ratings Profile 27 th June 2003 AUM (in 30 1.10 Govt & Govt 0.76 Guaranteed Bonds 4.77 AAA 2,206.01 62.6347 914 1,262 23.67 69.70 AA- Fixed Deposit : : - 60% (BSE 100); - 40% (Crisil Bond) & Money Rohit Agarwal Dynamic Balanced Fund 1 month -3.2-3.2 3 months -1.2 0.4 6 months 1.0 2.7 1 year 10.6 12.6 2 years 16.5 17.4 3 years 7.5 7.2 4 years 14.2 13.0 5 years 12.8 11.8 6 years 12.2 11.0 7 years 10.9 9.8 10 years 8.2 8.1 Inception 13.3 12.0 5.98 30-60 57 Gsec / 20-70 39 00-40 3 Holdings % to Fund EQUITY 57.21 HDFC Bank Ltd 3.40 Infosys Ltd 3.12 Kotak Banking ETF - Dividend Payout Option 2.44 IndusInd Bank Ltd 2.38 Reliance Industries Ltd 2.29 Reliance ETF Bank Bees 2.17 Maruti Suzuki India Ltd 2.03 I T C Ltd 1.96 ICICI Bank Ltd 1.80 Larsen And Toubro Ltd 1.61 Zee Entertainment Enterprises Ltd 1.51 Tech Mahindra Ltd 1.40 Bharat Petroleum Corporation Ltd 1.21 Britannia Industries Ltd 1.19 Hindustan Unilever Ltd 1.18 Vedanta Ltd 1.09 Sun Pharmaceuticals Ltd 1.04 Havells India Ltd 0.97 Indraprastha Gas Ltd 0.96 Shree Cement Ltd 0.96 22.52 G-Sec 28.86 7.17% GOI - 08.01.2028 11.96 8.13% GOI - 22.06.2045 3.66 8.22% NABARD - 25.02.2028 2.26 6.68% GOI - 17.09.2031 2.00 8.15% GOI FCI Bonds - 16.10.22 1.14 7.18% PFC - 20.01.2027 0.84 6.57% GOI - 05.12.2033 0.65 8.28% RJ SDL - 21.02.2028 0.64 1.44% INFLATION INDEX GS 2023 0.62 8.28% TN SDL -21.02.2028 0.57 4.54 Corporate 10.57 8.27% REC - 06.02.2025 1.35 9.61% REC - 03.01.2019 0.92 8.85% PGC - 19.10.2026 0.58 8.85% PGC - 19.10.2025 0.58 9.75% REC - 11.11.2021. 0.48 8.79% IRFC - 04.05.2030 0.48 9.69% Tata Sons - 12.06.2022 0.47 9.36% IDFC Bank - 21.08.24 0.46 9.85% HDFC Bank 2019-17.03.2024 CALL 17.03.2019 0.46 8.57% REC - 21.12.2024 0.46 4.34 MMI 1.98 1.38 Sector Allocation as per Computer programming, consultancy and related State Development Loan Mfg of coke and refined petroleum products Mfg of motor vehicles, trailers and semi-trailers Wholesale trade, except of motor vehicles and motorcycles Mfg of basic metals Motion picture,video & TV programme production,sound recording Warehousing and support for transportation 4.52 4.18 3.50 2.87 2.66 2.56 2.50 2.35 20.75 23.04 31.07 22

DYNAMIC BOND FUND (ULIF-015-15/04/04-DYBNDFND-107) Aims to preserve capital and minimize downside risk, with investment in debt and government instruments. AUM (in Ratings Profile 15 th April 2004 2,197 0.08 Govt & Govt 0.85 0.69 Guaranteed Bonds AUM (in AAA 1,01,034.83 30.2986 98,838 28.27 70.12 AA+ AA- : - 100% (Crisil Bond) & Money Dynamic Bond Fund 1 month -1.4-0.6 3 months -2.3-1.4 6 months -2.8-1.4 1 year 2.8 4.3 6.61 Gsec 00-75 69 25-100 29 00-40 2 Holdings % to Fund G-Sec 68.59 7.17% GOI - 08.01.2028 30.19 8.13% GOI - 22.06.2045 9.38 8.22% NABARD - 25.02.2028 6.43 6.68% GOI - 17.09.2031 5.22 7.18% PFC - 20.01.2027 1.79 6.57% GOI - 05.12.2033 1.68 8.28% RJ SDL - 21.02.2028 1.66 1.44% INFLATION INDEX GS 2023 1.57 8.28% TN SDL -21.02.2028 1.48 7.20% NABARD - 21.10.2031 0.99 8.20 Corporate 29.16 8.27% REC - 06.02.2025 2.49 8.79% IRFC - 04.05.2030 1.52 8.23% REC - 23.01.2025 1.43 7.33% IRFC - 28.08.2027 1.24 8.18% EXIM- 07.12.2025 1.23 7.49% IRFC - 30.05.2027 1.10 7.56% EXIM- 18.05.2027 1.06 8.57% REC - 21.12.2024 0.87 7.20% PGC - 09.08.2027 0.68 9.69% Tata Sons - 12.06.2022 0.68 16.86 MMI 0.08 2.17 Sector Allocation as per State Development Loan Electricity, gas, steam and air conditioning supply Wholesale trade, except of motor vehicles and motorcycles 8.02 4.44 3.35 2.17 31.54 49.81 2 years 7.7 7.9 3 years 6.5 7.6 4 years 9.2 9.5 Mfg of basic metals 0.67 5 years 7.7 8.3 6 years 8.3 8.4 7 years 8.6 8.4 10 years 9.0 7.5 Inception 8.3 6.5 23

KOTAK DYNAMIC GILT FUND (ULIF-006-27/06/03-DYGLTFND-107) Aims to preserve your capital and minimize your downside risk, with investment in debt and government instruments. AUM (in Ratings Profile 27 th June 2003 AUM (in 81 4.91 Govt & Govt Guaranteed Bonds 4,800.14 27.9535 4,719 95.09 : - 100% (IBEX) & Money 5.89 Gsec 80-100 93 00-40 7 Holdings % to Fund G-Sec 93.49 7.17% GOI - 08.01.2028 32.48 8.13% GOI - 22.06.2045 10.62 6.68% GOI - 17.09.2031 4.97 9.29% PN SDL - 09.10.2023 3.68 8.99% MP SDL - 07.03.2022 3.31 9.25% RJ SDL - 09.10.2023 2.75 9.40% MP SDL - 30.01.2024 2.48 8.63% MH SDL - 09.01.2023 2.28 9.39% GJ SDL - 20.11.2023 2.18 9.11% MP SDL - 28.05.2024 2.03 26.71 MMI 4.82 1.69 Sector Allocation as per State Development Loan 39.43 54.06 Dynamic Gilt Fund 4.82 1 month -0.9-0.4 3 months -2.0-1.1 6 months -2.8-1.2 1 year 3.4 4.1 2 years 8.0 8.0 3 years 6.5 7.5 4 years 9.7 9.7 5 years 7.7 8.3 1.69 6 years 8.4 8.8 7 years 8.4 8.7 10 years 8.1 8.2 Inception 7.3 7.4 24

KOTAK DYNAMIC FLOATING RATE FUND (ULIF-020-07/12/04-DYFLTRFND-107) Aims to preserve capital and minimize downside risk, with investment in debt and government instruments. AUM (in Ratings Profile 07 th December 2004 AUM (in 33 7.78 6.07 1.79 Govt & Govt Guaranteed Bonds AA+ 1,967.84 8.29 AAA 25.7414 1,934 76.06 Fund Investments A1+ : - 100% (Crisil Liquid) & Money Dynamic Floating Rate Fund 1 month -0.1 0.5 3 months -0.2 1.6 6 months 0.8 3.2 1 year 4.5 6.7 2 years 6.3 7.0 3 years 6.5 7.4 4 years 7.6 7.8 5 years 8.2 8.1 6 years 8.3 8.1 7 years 8.2 8.2 10 years 7.7 7.6 Inception 7.4 7.2 3.09 Gsec 00-75 62 25-100 29 00-40 9 Holdings % to Fund G-Sec 61.51 9.37% MAH SDL - 04.12.2023 15.87 8.92% RJ SDL - 21.11.2022 4.64 8.84% PN SDL - 11.06.2024 4.24 8.21% RJ SPL SDL - 31.03.2022 3.26 8.54% MAH SDL - 19.01.2021 3.18 9.25% HR SDL 09.10.2023 3.11 8.38% MAH SDL - 25.03.2020 2.92 8.68% GJ SDL - 06.02.2023 2.73 8.28% TN SDL - 09.09.2019 2.37 8.51% PN SDL - 10.04.2023 2.33 16.85 Corporate 29.06 FRB G - 21.12.2020 13.26 Shriram Transport Finance Co Ltd Floater - 19.07.19 8.15 L&T Finance Ltd NSE Mibor +2% - 05.08.2019 7.65 MMI 7.73 1.70 Sector Allocation as per State Development Loan 1.70 23.53 22.14 52.63 25

PEAK GUARANTEE FUND I (ULIF-049-14/02/10-PKGRTFND1-107) Aims for a high level of capital growth by holding a significant portion in large sized company equities. AUM (in Ratings Profile 14 th February 2010 AUM (in 1,685.10 17.6969 1,330 15 340 18.63 20.32 0.75 0.76 0.28 59.27 Govt & Govt Guaranteed Bonds AAA AA- AA+ Fixed Deposit : : - 37.5% (Nifty); - 62.5% (Crisil Bond) & Money Rohit Agarwal Peak Guarantee Fund I 1 month -0.8-2.2 3 months 2.2 0.1 6 months 3.5 1.3 1 year 11.3 9.4 2 years 12.7 13.4 3 years 5.5 7.1 4 years 9.9 11.3 5 years 8.1 10.3 6 years 8.1 9.9 7 years 7.5 9.3 10 years n.a n.a Inception 7.4 9.0 1.72 00-100 20 Gsec / 00-100 64 00-100 16 Holdings % to Fund EQUITY 20.15 Reliance Industries Ltd 1.69 HDFC Bank Ltd 1.40 Infosys Ltd 1.20 I T C Ltd 1.19 Housing Development Finance Corp. Ltd 1.05 Larsen And Toubro Ltd 0.91 Tata Consultancy Services Ltd 0.77 ICICI Bank Ltd 0.73 Maruti Suzuki India Ltd 0.69 Hindustan Unilever Ltd 0.62 Sun Pharmaceuticals Ltd 0.41 Mahindra & Mahindra Ltd 0.40 Tata Motors Ltd 0.40 Bharti Airtel Ltd 0.37 Oil & Natural Gas Corporation Ltd 0.36 Vedanta Ltd 0.36 State Bank of India 0.36 National Thermal Power Corporation Ltd 0.36 Asian Paints Ltd 0.34 Power Grid Corporation of India Ltd 0.34 6.22 G-Sec 46.79 8.48% MAH SDL - 24.02.2020 33.22 8.14% MH SDL -23.09.2019 6.01 8.28% TN SDL - 09.09.2019 1.75 1.44% INFLATION INDEX GS 2023 1.16 6.57% GOI - 05.12.2033 0.66 7.18% PFC - 20.01.2027 0.55 7.20% NABARD - 21.10.2031 0.54 7.73% GOI - 19.12.2034 0.43 8.59% GJ SDL - 20.07.2021 0.30 8.20% GOI - 15.02.22 0.24 1.92 Corporate 17.45 8.65% REC - 22.01.2020 3.61 9.7705% LIC Housing Finance - 26.02.19 - P - 26.03.15 3.60 11.25% PFC - 28.11.18 1.82 8.70% PFC- 14.05.2020 1.20 8.80% REC - 06.10.2019 1.20 9.30% PGC - 28.06.2024 0.78 9.69% Tata Sons - 12.06.2022 0.61 11.95% HDFC - 26.11.18 0.61 9.85% HDFC Bank 2019-17.03.2024 CALL 17.03.2019 0.61 8.70% PFC- 15.01.2020 0.60 2.81 MMI 14.70 0.90 Sector Allocation as per State Development Loan Computer programming, consultancy and related Mfg of coke and refined petroleum products Mfg of motor vehicles, trailers and semi-trailers Electricity, gas, steam and air conditioning supply Mfg of basic metals Mfg of tobacco products Mfg of chemicals and chemical products 2.78 2.61 2.22 1.48 1.48 1.47 1.19 1.13 6.06 36.66 42.92 26

KOTAK GUARANTEED GROWTH FUND (ULIF-013-27/06/03-GRTGWTFND-107) Aims for a high level of capital growth by holding a significant portion in large sized company equities. AUM (in Ratings Profile 27 th June 2003 AUM (in 76,115.92 30,614 1,071 28.97 1.26 0.49 Govt & Govt 1.47 0.75 Guaranteed Bonds AAA Fixed Deposit AA+ 62.8168 44,430 67.06 AA- : : - 40% (BSE 100); - 60% (Crisil Bond) & Money Rohit Agarwal Guaranteed Growth Fund 1 month -3.2-2.3 3 months -1.3-0.2 6 months 0.7 1.3 1 year 10.2 9.8 2 years 16.3 14.2 3 years 7.6 7.4 4 years 13.3 11.9 5 years 11.6 10.7 6 years 11.1 10.2 7 years 10.4 9.6 10 years 6.5 8.0 Inception 13.3 11.4 6.14 00-80 58 Gsec / 20-60 40 00-40 2 Holdings % to Fund EQUITY 58.37 HDFC Bank Ltd 3.48 Infosys Ltd 3.22 IndusInd Bank Ltd 2.40 Kotak Banking ETF - Dividend Payout Option 2.38 Reliance Industries Ltd 2.30 Maruti Suzuki India Ltd 2.14 Reliance ETF Bank Bees 2.13 I T C Ltd 2.07 ICICI Bank Ltd 1.90 Zee Entertainment Enterprises Ltd 1.59 Tech Mahindra Ltd 1.42 Shree Cement Ltd 1.36 Larsen And Toubro Ltd 1.29 Britannia Industries Ltd 1.27 Bharat Petroleum Corporation Ltd 1.26 Hindustan Unilever Ltd 1.16 Sun Pharmaceuticals Ltd 1.12 Bata India Ltd 1.09 Havells India Ltd 1.00 Indraprastha Gas Ltd 0.99 22.80 G-Sec 26.97 7.17% GOI - 08.01.2028 10.98 8.13% GOI - 22.06.2045 3.28 8.22% NABARD - 25.02.2028 2.36 6.68% GOI - 17.09.2031 1.88 1.44% INFLATION INDEX GS 2023 1.28 6.57% GOI - 05.12.2033 0.71 7.18% PFC - 20.01.2027 0.64 8.28% RJ SDL - 21.02.2028 0.60 8.28% TN SDL -21.02.2028 0.53 7.20% NABARD - 21.10.2031 0.41 4.31 Corporate 12.66 8.27% REC - 06.02.2025 0.93 8.79% IRFC - 04.05.2030 0.61 8.23% REC - 23.01.2025 0.52 7.33% IRFC - 28.08.2027 0.51 8.18% EXIM- 07.12.2025 0.45 7.56% EXIM- 18.05.2027 0.41 7.49% IRFC - 30.05.2027 0.41 10.08% IOT Utkal Energy Services Limited - 20.03.2026 0.30 10.08% IOT Utkal Energy Services Limited - 20.03.2024 0.29 9.85% HDFC Bank 2019-17.03.2024 CALL 17.03.2019 0.28 7.94 MMI 0.59 1.41 Sector Allocation as per Computer programming, consultancy and related State Development Loan Mfg of coke and refined petroleum products Wholesale trade, except of motor vehicles and motorcycles Mfg of motor vehicles, trailers and semi-trailers Motion picture,video & TV programme production,sound recording Electricity, gas, steam and air conditioning supply Warehousing and support for transportation 4.64 3.62 3.55 3.22 3.00 2.62 2.54 2.47 18.92 23.29 32.12 27