Voya Large Cap Growth Strategy

Separately Managed Account I For Quarter Ending June 3, 18 I Strategy Brief I 2Q 18 Voya Large Cap Growth Strategy Strategy-At-A-Glance Objective 1 Inception Date Benchmark Vehicles To outperform the Russell 1 Growth Index by 2-3% annualized before management fees over full market cycles with an expected annualized tracking error of approximately 4-6% 1/1/83 Separate Account Collective Trust Mutual Fund SICAV 1 There is no guarantee that this objective will be achieved. Strategy Overview The Large Cap Growth strategy seeks to outperform its benchmark over a full market cycle via an actively managed approach relying on fundamental research and analysis to identify companies with strong and accelerating business momentum, increasing market acceptance and attractive valuations. Investment Philosophy We believe consistent and durable alpha is best achieved over the long term via a sectorneutral, research-centric investment process with a fully integrated fundamental and quantitative approach at its core. Our key beliefs: A differentiated point of view is required for successful active growth investing Understanding expectations is key Everything is relative: valuations and fundamentals should be considered in a relative framework Investment Process Our disciplined, bottom-up investment process focuses on high-conviction stock selection. The process begins with identifying a universe of large cap stocks with market capitalizations > $2 billion. Next, a quantitative evaluation ranks the investment universe and identifies the most attractive stocks within each sector. Once the universe is ranked, the analysts concentrate their efforts on the highest ranked stocks within their sector to add insight through in-depth fundamental research and analysis. Buy and sell decisions are mainly the product of qualitative judgments about business momentum, market recognition, and valuation, as well as the attractiveness of each stock, given benchmark weight, expected return, and perceived risk. Define & Rank Universe All growth stocks > $2 billion are ranked by sector to identify stocks that warrant further research (top 3% of universe) Conduct Fundamental Analysis Analysts conduct deep fundamental research to discover underappreciated or disputed growth stocks Construct Managers review and approve investment thesis, determine active weights, monitor risk and style exposures, and enforce sell discipline Not FDIC Insured May Lose Value No Bank Guarantee INVESTMENT MAGEMENT Reliable Partner Reliable Investing

Voya Large Cap Growth Strategy Strategy Brief I 2Q 18 Supplemental Performance: Annualized Total Returns 1 Voya Large Cap Growth SMA Composite 24 21..3 22.5 Returns (%) 18 12 6 4.6 4.4 5.8 6.2 5.9 7.3 14.2 13.6 15. 16.2 15.5 16.4 12.5 11.8 11.8 Quarter YTD 1 Year 3 Years 5 Years 1 Years Gross Net Investment Commentary For the quarter, the strategy underperformed the benchmark primarily due to stock selection. Stock selection within the materials and consumer discretionary sectors detracted the most from performance. By contrast, stock selection within the information technology and industrials sectors contributed the most value. Key detractors from performance were Dollar Tree, Inc., Netflix, Inc. and Facebook, Inc. An overweight position in Dollar Tree (DLTR) detracted from performance. Shares declined following disappointing first quarter 18 earnings in which Family Dollar s comps i.e., sales compared to the same period a year ago turned negative and gross margins disappointed. This called into question management s ability to turn the business around. What s more, higher freight costs weighed on gross margins at the Dollar Tree segment, more than offsetting positive sales growth at the chain. Not owning benchmark stock, Netflix, Inc. (NFLX), detracted value from performance during the period. The company reported a strong quarter with both subscriber growth and earnings that exceeded expectations, lending further support to investors longterm view of the company s earnings potential. In addition, extremely negative sentiment around the existing cable television ecosystem and NFLX s comparable pricing power has fueled momentum in the stock. An underweight position in Facebook (FB), detracted from performance due to missed upside gains during the period. FB started the quarter down on concerns of slowing user growth in light of the negative press surrounding Cambridge Analytica as well as concerns that Europe s mandated General Data Protection Regulation (GDPR) would impact revenues negatively. Shares rebounded following a strong earnings report. Key contributors to performance were Boston Scientific Corp, salesforce.com, inc. and Intuit, Inc. An overweight position in Boston Scientific Corp. (BSX), a developer of medical devices, contributed to performance. The stock outperformed in June 18 due to takeout speculation in the media. An overweight position in salesforce.com (CRM), a customer relationship management service company, contributed to performance. The company exceeded expectations for its quarterly earnings and revenue, driven by a growing client base and additional revenue from recently acquired Mulesoft (MULE). Overall growth and momentum within the tech sector, and notably companies in the cloud computing space, have helped push the stock to new heights. An overweight position in Intuit (INTU), a business and financial management software solutions developer, contributed to performance. Shares advanced following strong fiscal-third quarter 18 results that delivered significant upside to consumer results, primarily driven by a very strong Turbo Tax season. The company also raised fiscal year 18 guidance, reflecting a better growth outlook across all segments. We remain committed to our disciplined, bottom-up strategy focused on rigorous fundamental research. We believe our focus on identifying companies with strong and accelerating business momentum, increasing market acceptance and attractive valuations will deliver attractive relative returns over a full market cycle. measures the large-cap growth segment of the U.S. equity market including Russell 1 companies with higher price-to-book ratios and forecasted growth. 2

Voya Large Cap Growth Strategy Strategy Brief I 2Q 18 Performance Analysis Since Current Team Inception High Conviction Stock Selection (based on attribution results) 1,2 Stock selection has generated 89% of the excess returns we focus on stock selection, not market timing, big sector bets or macro calls. High Conviction Stock Selection Drives of Performance Performance Attribution Strong Risk-Adjusted Returns (i.e. Information Ratio) 3,4 Information Ratio is greater than the peer median we treat risk as a critical component of our portfolio construction, not an afterthought. Information Ratio Composite vs. Peer Median 89%.36 11% Stock Selection Sector Allocation Voya.4 Peer Median Composite Outperformed Benchmark More Consistently Than Peers Observations of Rolling 3-Year Returns 5,6 Performance of Voya Large Cap Growth Strategy vs. Russell 1 Growth Manager Returns (%) 3 25 15 1 5-5 -1-15 - - 84% Manager Outperformance vs. the Benchmark -1 1 47% Peer Median Outperformance vs. the Benchmark 3 Benchmark Returns (%) Market Environment % of Time Composite Outperformed Index Average Rolling 3-Year Return (% Annualized) 7 Voya LCG Composite (Gross) Russell 1 Growth Excess Return Down Market (-5% or more) 1% -5.92-8.26 +2.34 Average Market (-5% to +15%) 85% 9.18 8.3 +1.15 Bull Market (+15% or more) 79% 18.88 18.32 +.56 All information above, unless otherwise indicated, was calculated using gross-of-fee returns for the time period from when the current investment team assumed management of the strategy (5/1/4) through the most recent quarter-end. 1 Based on an individual portfolio that best represents the performance attribution results of this investment strategy, and thus may not reflect the holdings of other portfolios included within the composite 2 Calculated as the percentage of relative return due either to the asset allocation or security selection effects from a standard Brinson-Fachler attribution model analysis. 3 Based upon monthly observations of composite returns vs. its benchmark index over the period referenced above. For more information regarding the composite, please see the fully compliant presentation on the following page. 4 Median Information Ratio for competitor constituents of the evestment U.S. Large-Cap Growth Equity universe that have been in existence for the same time period. 5 Based on monthly observations of rolling, 3-year annualized returns for competitor constituents of the evestment U.S. Large-Cap Growth Equity universe that have been in existence for the same time period. 6 Data plotting above the line represents composite out-performance vs. the index, while those below represent under-performance. 7 Based on monthly observations of rolling, 3-year annualized returns for the composite vs. its benchmark index, beginning 1/1/5 through current quarter-end. For more information regarding the composite, please see the fully compliant presentation on the following page. Past performance does not guarantee future results. 3

Voya Large Cap Growth Strategy Strategy Brief I 2Q 18 Highlights Consumer Discretionary Consumer Staples Energy Financials Health Care Industrials Information Technology Materials Real Estate Telecommunication Services Utilities Cash Total Sector Weightings* and Attribution 17.67 6.47.8 4.87 13.35 11.97 41.31 1.84 1.72 1 Sector Weights (%)* Russell 1 Growth Index 17.93 5.72 1.1 4.44 13.37 11.87 41.55 1.8 2.16.15 1 Overweight/ Underweight -.26.74 -.22.42.1 -.23.4 -.44 -.15 Trailing 1-Year Attribution Analysis Allocation Effect Selection Effect Total Effect -.7 -.47 -.54.3.5.53.2.1.13.1 -.15 -.14.3 -.87 -.84 -.2 -.56 -.59 1.2 1..6 -.64 -.59 -.4 -.12 -.16.7.7 -.42 -.42 -.35-1. -1.55 Returns-Based Statistics (5 years ending 6/3/18) Standard Deviation (%) Tracking Error (%) Information Ratio Alpha (annualized %) Beta R-Squared (%) Sharpe Ratio Composite 1.44 1.83 -.8.1.99.97 1.51 1.39 1. 1. 1.54 Security Characteristics Weighted Avg. Cap ($ Millions) Active Share P/E (next 12 mos.) EPS Growth (3-5 Year Estimate) Price to Cash Flow ROA (%) Dividend yield PEG Ratio (next 12 mos.) Composite 27,768 61 23.99 16.7 22.46 9.93 1.13 1.68 275,596 22.39 16.44 21.89 9.99 1.25 1.75 Up / Down Capture Ratio Annualized rate of return (%) 4 Voya Capture Ratio 11% 26.26 26.7 Capture Ratio 13% -7.97-7.7 38 Up Months 22 Down Months 4 Top Ten Holdings (%) Microsoft Corporation Amazon.com Inc. Alphabet Inc. Class A Apple Inc. Mastercard Inc. Class A Home Depot Inc. UnitedHealth Group Inc. Boeing Company Fidelity National Information Services Inc. Waste Management, Inc. Top Ten Active Weights (%) Alphabet Inc. Class A Fidelity National Information Services Inc. Mastercard Inc. Class A Monster Beverage Corporation Waste Management, Inc. Thermo Fisher Scientific Inc. Fiserv Inc. Baxter International Inc Autozone Inc. L3 Technologies, Inc. 1.61 *Ex-cash and other Attribution results over long periods are not guaranteed to be accurate relative to the sum of a series of shorter periods. The sector, security, and holdings information is based on a sample account in the Composite that we believe best represents this investment management style. It should not be assumed that the adviser continues to hold the securities listed. Other accounts in the Composite might have slightly different portfolio characteristics. Returns-Based Characteristics are based on the Composite returns. Please see next page for other important disclosures. For information purposes only and not a recommendation to purchase or sell any security. The sector, security and holdings information is based on a representative portfolio included in the Composite that we believe best represents this investment management style. It should not be assumed that the adviser continues to hold the securities listed. Other accounts in the Composite might have slightly different portfolio characteristics. Returns-based characteristics are based on the Composite returns. Composite information is subject to change at any time. 6.99 6.43 5. 5.7 3.38 3.35 2.75 2.58 2. 2.15 2.57 2.17 1.97 1.96 1.92 1.84 1.8 1.77 1.65 4

Voya Large Cap Growth Strategy Strategy Brief I 2Q 18 Voya Investment Management Voya Investment Management (Voya IM) is the asset management business of Voya Financial, a Fortune 5 company with over 6, employees seeking to help clients plan, invest and protect their savings. As of March 31, 18, Voya IM managed approximately $227 billion * in assets across Fixed Income, Senior Loans, Equities and Multi-Asset Strategies & Solutions. Drawing on over 4 years of experience and the expertise of 25+ investment professionals, Voya IM s capabilities span traditional products and solutions as well as those that cannot be easily replicated by an index. Voya IM s award-winning culture is deeply rooted in a client-centric approach to helping investors meet their goals from insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, and consultants to intermediaries, and individual investors. Reliability is why our clients hire us and it is why they trust us to navigate the path ahead. Managers Jeffrey Bianchi, CFA Head of Growth and Manager Years of experience: 24 Years with firm: 24 Michael Pytosh Chief Investment Officer, Equities Years of experience: 32 Years with firm: 14 *As of 3/31/18. Voya IM assets are calculated on a market value basis and include proprietary insurance general account assets of $87 billion. The principal risks are generally those attributable to stock investing. Holdings are subject to market, issuer and other risks, and their values may fluctuate. Market risk is the risk that securities may decline in value due to factors affecting the securities markets or particular industries. Issuer risk is the risk that the value of a security may decline for reasons specific to the issuer, such as changes in its financial condition. More particularly, growth-oriented stocks typically sell at higher valuations than other stocks. If a growth-oriented stock does not exhibit the level of growth expected, its price may drop sharply. Additionally, growth-oriented stocks have been more volatile than value-oriented stocks. This information is proprietary and cannot be reproduced or distributed. Certain information may be received from sources Voya Investment Management ("Voya IM") considers reliable; Voya IM does not represent that such information is accurate or complete. Certain statements contained herein may constitute "projections," "forecasts" and other "forward-looking statements" which do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial data. Actual results, performance or events may differ materially from those in such statements. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change. Nothing contained herein should be construed as (i) an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Voya IM assumes no obligation to update any forward-looking information. Past performance does not guarantee future results. 18 Voya Investments Distributor, LLC 23 Park Ave, New York, NY 1169 All rights reserved. (8) 992-18 Individual Investors (8) 334-3444 Investment Professionals FFOT-LCGSMA (71-7118-ex13118) - 168485 PLAN INVEST PROTECT voyainvestments.com