INDEX MARKET OUTLOOK EQUITY THEMATIC FUNDS HYBRID DEBT LIQUID GILT SOLUTIONS. Equity Debt

INDEX MARKET OUTLOOK Equity Debt EQUITY Tata Large Cap Fund (Erstwhile known as Tata Pure Equity Fund; renamed w.e.f February 29, 2016) Tata Equity Opportunities Fund Tata Ethical Fund Tata Equity P/E Fund Tata Mid Cap Growth Fund Tata Dividend Yield Fund Tata India Tax Savings Fund (Erstwhile known as Tata Long Term Equity Fund; renamed w.e.f December 21, 2015) THEMATIC FUNDS Tata Banking & Financial Services Fund Tata Digital India Fund Tata India Consumer Fund Tata India Pharma & Healthcare Fund Tata Resources & Energy Fund Tata Infrastructure Fund 7 8 9 10 11 12 13 14 15 16 16 17 17 18 19 HYBRID Tata Hybrid Equity Fund (Erstwhile known as Tata Balanced Fund; renamed w.e.f May 3, 2018) Tata Equity Savings Fund (Erstwhile known as Tata Savings Equity Fund; renamed w.e.f May 3, 2018) 20 21 DEBT Tata Dynamic Bond Fund Tata Medium Term Fund (Erstwhile known as Tata Income Plus Fund; renamed w.e.f March 17, 2017) Tata Income Fund (Erstwhile known as Tata Long Term Debt Fund; renamed w.e.f May 3, 2018) Tata Short Term Bond Fund Tata Corporate Bond Fund (Erstwhile known as Tata Treasury Manager Fund; renamed w.e.f March 17, 2017) Tata Treasury Advantage Fund (Erstwhile known as Tata Ultra Short Term Fund; renamed w.e.f May 3, 2018) 22 23 24 25 26 27 LIQUID Tata Liquid Fund (Erstwhile known as Tata Money Market Fund; renamed w.e.f May 16, 2018) Tata Money Market Fund (Erstwhile known as Tata Liquid Fund; renamed w.e.f May 16, 2018) 28 29 GILT Tata Gilt Securities Fund Tata Gilt Mid Term Fund 30 31 SOLUTIONS Tata Retirement Savings Fund - Progressive Tata Retirement Savings Fund - Moderate Tata Retirement Savings Fund - Conservative Tata Young Citizens Fund SCHEMES PERFORMANCE DIVIDEND / BONUS HISTORY HOW TO READ FACT SHEET 32 33 34 35 36-48 49-52 53 2

RISKOMETER Name of the Schemes Investment Objective Fixed Income for Short Term. Riskometer Tata Liquid Fund (Erstwhile known as Tata Money Market Fund; renamed w.e.f May 16, 2018) Investment in Debt/Money Market instruments/government Securities. Name of the Schemes Investment Objective Fixed Income for Short Term. Riskometer Tata Treasury Advantage Fund (Erstwhile known as Tata Ultra Short Term Fund; renamed w.e.f May 3, 2018) Investment in Debt/Money Market instruments/government Securities. Tata Short Term Bond Fund Investment Objective Fixed Income for Short Term. Investment in Debt/Money market instruments /Government Securities. Tata Money Market Fund (Erstwhile known as Tata Liquid Fund; renamed w.e.f May 16, 2018) Investment in Money Market instruments. 3

RISKOMETER Name of the Schemes Investment Objective Riskometer Tata Dynamic Bond Fund Investment Objective Short Term to Medium Capital Appreciation. Investment in Debt / Money Market Instruments / Government Securities Tata Gilt Mid Term Fund Investment Objective Medium Term Capital Appreciation. Investment predominantly in Government Securities (upto 1s maturity). Tata Gilt Securities Fund Investment Objective Long Term Capital Appreciation & Income. Investment predominantly in Government Securities. Tata Income Fund (Erstwhile known as Tata Long Term Debt Fund; renamed w.e.f May 3, 2018) Investment Objective Long Term Capital Appreciation & Income. Investment in Debt/Money Market instruments/government Securities. Tata Medium Term Fund (Erstwhile known as Tata Income Plus Fund; renamed w.e.f March 17, 2017) Investment Objective Income/Capital Appreciation over medium term. Investment in Debt / Money Market Instruments / Government Securities. Tata Corporate Bond Fund (Erstwhile known as Tata Treasury Manager Fund; renamed w.e.f March 17, 2017) Investment Objective Income for Medium Term. Predominant investment in corporate Debt securities. 4

RISKOMETER Name of the Schemes Investment Objective Long Term Capital Appreciation Riskometer Tata Hybrid Equity Fund (Erstwhile known as Tata Balanced Fund; renamed w.e.f May 3, 2018) Tata Dividend Yield Fund Tata Equity Opportunities Fund Tata Equity P/E Fund Long Term Capital Appreciation. Investment predominantly in equity & equity related instruments (65% - 80%) & some portion (between 20% to 35%) in fixed income instruments. Investment (minimum 70%) in equity & equity related instruments/stocks having dividend yield higher than dividend yield of stocks of BSE SENSEX. Investment in equity and equity related instruments of well researched value and growth oriented companies across all market capitalization. Investment (minimum 70%) in equity & equity related instruments of companies whose rolling P/E is lower than rolling P/E of BSE Sensex. Tata Mid Cap Growth Fund Tata Large Cap Fund (Erstwhile known as Tata Pure Equity Fund; renamed w.e.f February 29, 2016) Tata Retirement Savings Fund - Moderate Plan Tata Equity Savings Fund (Erstwhile known as Tata Savings Equity Fund; renamed w.e.f May 3, 2018) Tata Retirement Savings Fund - Progresive Plan Tata India Tax Savings Fund (Erstwhile known as Tata Long Term Equity Fund; renamed w.e.f December 21, 2015) Tata Young Citizens Fund Tata Retirement Savings Fund - Conservative Plan Investment predominantly in equity & equity related instruments of growth oriented mid cap companies. Investment predominantly in equity & equity securities related securities of large cap companies. A predominantly equity oriented (between 65%-85%) savings scheme which provides tool for retirement planning to individual investors. Predominantly investing in equity and equity related instruments, equity arbitrage opportunities and debt and money market instruments. An equity oriented (between 85%-100%) savings scheme which provides tool for retirement planning to individual investors. An equity linked savings scheme (ELSS) Investing predominantly in Equity & Equity related instruments. Investment Objective Long Term Capital Appreciation & Current Income. Long Term Capital Appreciation by investing predominantly in equity & equity related instruments. Investment Objective Long Term Capital Appreciation & Current Income. A debt oriented (between 70%-100%) savings scheme which provides tool for retirement planning to individual investors. 5

RISKOMETER Name of the Schemes Investment Objective Long Term Capital Appreciation. Riskometer Tata Banking & Financial Services Fund Tata India Consumer Fund Tata Digital India Fund Tata India Pharma & Healthcare Fund Tata Resources & Energy Fund Tata Infrastructure Fund Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Banking and Financial Services sector in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Consumption Oriented sectors in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Information Technology sector in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Pharma & Healthcare sectors in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Resources & Energy sectors in India. Investment Predominantly in equity / equity related instruments of the companies in the Infrastructure sector in India. Tata Ethical Fund Investment in equity and equity related instruments of Shariah Principles compliant companies and in other instruments allowed under Shariah principles. Name of the Schemes Tata Infrastructure Tax Saving Fund Investment objective Long term capital appreciation by investing in equity/equity related instruments of companies in the infrastructure sector in India Generate medium to long term capital gain by investing predominantly in equity / equity related instruments of the companies in infrastructure and infrastructure related sectors along with the income tax benefit to its unitholders. *Investors should consult their financial advisors if in doubt about whether the product is suitable for them. 6

MARKET OUTLOOK Equity market The Indian equity markets ended moderately higher in the month of May 2018, as the Sensex was up by 0.5%, whilst the Nifty was flat. The broader market; the BSE Midcap & the BSE 200 both underperformed the Sensex with a performance of -5.9% and -1.5% respectively. In terms of sectors; Banking was the major outperformer whilst, Auto, Consumer Durable, Capital Goods, FMCG, Healthcare, IT, Metals, Oil&Gas, Power and Real Estate were the major underperformers. FIIs were net sellers in May, with net outflows to the tune of ~USD 1.49 bn. Consequently, there have been net FII outflows CYTD of ~USD 85 mn. Net equity investments in May 2018 by domestic MFs in the market were ~USD 2.03 bn. Index Name Nifty 50 Index S&P BSE Sensex S&P BSE MID CAP S&P BSE SMALL CAP S&P BSE 200 S&P BSE AUTO S&P BSE Bankex S&P BSE Consumer Durable S&P BSE Capital Good S&P BSE FMCG S&P BSE Health Care S&P BSE IT S&P BSE METAL S&P BSE Oil & Gas S&P BSE Power Index S&P BSE Realty As on Return in % 31-May-18 30-Apr-18 31-May-17 1 Month 10736 35322 16014 17249 4654 24472 30007 20670 18822 11291 13003 13453 13612 14429 2129 2235 10739 35160 17012 18402 4724 25834 28652 22380 19543 11306 14154 13568 14277 14430 2238 2430 9621 31146 14625 15080 4166 24162 26547 15400 17596 10106 13564 10230 11248 14247 2221 1931 0.0 0.5-5.9-6.3-1.5-5.3 4.7-7.6-3.7-0.1-8.1-0.8-4.7 0.0-4.9-8.0 11.6 13.4 9.5 14.4 11.7 1.3 13.0 34.2 7.0 11.7-4.1 31.5 21.0 1.3-4.1 15.7 The Macro picture WPI CPI Index of Industrial Production Repo rate Marginal Standing Facility Rate Source RBI, MOSPI April-18 3.2% 4.6% 4.4% (for March 2018) 6.0% (as on April 30, 2018) 6.25% (as on April 30, 2018) March-18 2.5% 4.3% 7.1% (for February 2018) 6.0% (as on March 31, 2018) 6.25% (as on March 31, 2018) Growth India s GDP growth improved to 7.74% YoY (provisional) in 4Q FY18 as compared to 7.0% in 3Q FY18; for the full year FY18 is now at ~6.7% YoY driven by a recovery in investment. The data underlines the recovery in the economy from the disruption of demonetization and GST (Goods & Services Tax) introduction in 2016 and 2017. Manufacturing growth (9.1% in 4Q) was strong. Construction growth of 11.5% was the highest recorded in the new GDP series and pushed industrial growth to ~8.8%. This improvement possibly reflects the momentum in housing and infrastructure schemes of the government. The growth in gross fixed capital formation continues, with a ~14.4% growth in 4QFY18. Private consumption growth recovered marginally to 6.7% (5.9% in 3Q), likely aided by rural demand. Inflation India s Wholesale Price Inflation (WPI) Index rose to 3.2% for the month of April 18 as an unfavorable base and faster rise in fuel inflation pushed up the index higher. Rise in cereal prices due to the minimum support price (MSP) increase and seasonal spike in food prices have the potential to push up the index further. Consumer Price Inflation (CPI) Index rose to 4.6% YoY in April from 4.3% in March 18 even as food and beverages inflation moderated slightly to 3%. Other macro developments Trade deficit came in at USD13.72bn in April 2018, largely unchanged from USD13.69bn in the previous month. For the month of April, exports grew 5.2% YoY while imports growth moderated at 4.6% YoY as compared to 7.1% YoY growth in March 2018. While gold imports rose sequentially to USD2.6bn in April, non-oil non-gold imports contracted 0.2% in April. Market Outlook Equity markets moved sideways (flat to moderate expansion) in the month of May driven by concerns on weakening macros driven by crude oil price increase, quarterly results which were impacted by accelerated NPA recognition by banks and political uncertainty in the Karnataka elections. In the latest quarterly results, the weakness in earnings was primarily led by NPA recognition in banks to comply with the new RBI norms on NPA recognition. Going forward, it is expected that consumption would remain one of the key growth drivers. Urban consumption has been strong so far, driven by moderate inflation and interest rates. Rural consumption, driven by increasing food prices and revival in sectors such as construction is also expected to see a gradual uptick, resulting in a broad-based consumption growth. Risk of significant FII outflows on account of a major global risk off event remains a concern. Crude oil prices and monthly GST collections would be key monitorable factors going forward. In terms of our portfolio positioning, we continue to remain overweight on direct and indirect beneficiaries of government push on sectors like roads, railways and housing. We continue to remain overweight on private sector banks on account of their ability to gain market share and maintain relatively higher growth rates. We are also diversifying exposure to consumption plays across multiple themes. Long-term structural drivers like demographic advantage, low household debt, limited penetration across different consumer categories, increased potential for financial savings and urbanization makes India a compelling equity story from medium to long term perspective. We believe investors would be well advised to invest with medium to long term perspective and systematically increase exposure to Indian equity markets. Disclaimer The views expressed are in no way trying to predict the markets or to time them. The views expressed are for information purpose only and do not construe to be any investment, legal or taxation advice. Please consult your Financial/Investment Adviser before investing. The views expressed may not reflect in the scheme portfolios of Tata Mutual Fund. This note has been prepared using information believed to be accurate at the time of its use. 7

MARKET OUTLOOK Debt market 31-May-18 30-Apr-18 Change (bps) 10 Year Benchmark Yield (s.a) 10 Year AAA (PSU) (ann) AAA (PSU) (ann) 3 Month T Bill 3 Month CD 12 Month CD 10 Year AAA Spread AAA Spread 7.83% 8.55% 8.58% 6.40% 7.70% 8.08% 0.57% 0.60% 7.77% 8.41% 8.36% 6.19% 7.05% 7.58% 0.49% 0.44% 6 14 22 21 65 50 8 16 Sovereign bond market remained under pressure during the month on the back of rising crude oil prices, depreciation rupee and increasing core inflation momentum. RBI announced Open market operations purchase of Government securities at Face value of Rs 10,000 Crores, when 10-year yields moved above 7.90 % levels. This capped the rise in Government bond yields. Subsequently, Government 10-year yield became range bound in the band of 7.70 %- 7.85 %. Globally bond yields remained volatile as Global Economic Growth and Inflation moved up. In the US, the average non-farm payroll additions for this calendar year is 200,000 and the unemployment rate has come down to 3.9 % versus 4.4 % levels. US CPI inflation for the month of April touched 2% due to higher energy prices and core CPI, which exclude energy and food prices, was at 1.8 %. This increases expectation of more than 3 rate hikes by US Fed in the CY18. US 10-year note touched a high of 3.11 % before closing at 2.86% versus 2.95% at the beginning of the month. US Federal Reserve Chairman stated its was to see CPI inflation sustaining at 2% levels after years of undershooting of CPI targets. In the Indian context, the 10-year G-Sec yields hardened by 6 bps and closed at 7.83 %. Corporate bonds also followed suite with 10-year and 5-year corporate bond yields hardening by 14 bps and 22 bps respectively. Money market instruments at the shorter end of the curve saw 3-month Treasury bill hardening by 21 bps and 3-month and 12-month CD yields rose by 65 bps and 50 bps respectively. Net FPI outflows in Indian debt market stood at 19,654 crores for the month of May 2018. Crude oil prices firmed up during the month due to falling Venezuelan output, due to rising political tensions. Downside risks to Iranian crude output and higher compliance by OPEC & non-opec on production cut led to a spike in crude prices. Brent Spot hit a high of 79.8 before closing at 77.6 from 75.17 per barrel at the beginning of the period. On the macroeconomic data released during the period, April CPI inflation surprised on the higher side at 4.58% versus 4.30% for March. The rise in CPI inflation was mainly due to increasing momentum in core inflation. Core inflation jumped by 0.7% MoM pushing headline core inflation to the highest in this series at 5.84% YoY. Rise in core inflation was more broad based in the month of April with upside in Education, Health, Recreation, Household goods, Clothing and Services. IIP for the month of March moderated to 4.4% YoY from 7.1% YoY in February hitting a 5-month low. Deceleration in industrial growth was largely because of slowing momentum in core infrastructure, exports and automobile production. Systemic liquidity tightened during the month of May due to increasing currency in circulation. Short term rates spiked due to skewed liquidity condition wherein, PCA banks flushed with liquidity stopped lending due to capital constraints and deployed money in reverse repo. Whereas non-pca banks were facing liquidity crunch. This led to increased supply by non-pca banks and NBFCs to meet the increasing demand for credit. Banking system liquidity hit a low of negative Rs 40,900 crs during the month before closing the month at positive Rs 1,000 crs versus positive Rs 35,584 crs at the beginning of the month. Going forward, we expect the RBI to stay on hold in June monetary policy with a change in stance to withdrawal of monetary accommodation. Higher Oil Prices (RBI has taken Indian crude at 68 dollars per barrel versus 78 prevailing at present), depreciating rupee due to portfolio outflows, emerging markets selloff, may induce RBI to prepone repo rate hike. We expect a total of 50 bps hike by RBI in FY19. We expect 10-year G-sec yield to trade range-bound in near term, within a band of 7.75%-7.95% and 10-year Corporate bonds to trade in a range of 8.50%-8.70%. Short term rates which have increased due to tightened liquidity conditions should come down going forward as RBI may infuse liquidity in the system through Open Market Purchase of Government Securities. RBI is also expected to take delivery of forward purchase of dollars, which will add liquidity in the banking system. Disclaimer The views expressed are in no way trying to predict the markets or to time them. The views expressed are for information purpose only and do not construe to be any investment, legal or taxation advice. Please consult your Financial/Investment Adviser before investing. The views expressed may not reflect in the scheme portfolios of Tata Mutual Fund. This note has been prepared using information believed to be accurate at the time of its use. 8

Tata Large Cap Fund (Erstwhile known as Tata Pure Equity Fund; renamed w.e.f February 29, 2016) (An open-ended equity scheme predominantly investing in large cap stocks.) Primarily invests in equity and equity related instruments of large market cap companies. To provide income distribution and / or medium to long term capital gains while at all times emphasising the importance of capital appreciation. May 7, 1998 FUND MAGER Gopal Agrawal (Managing Since 27-Jun-17 and overall experience of 2s) S&P BSE Sensex TRI V - Growth - Dividend Reg - Growth Reg - Dividend 777.06 ( in Cr.) 779.62 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 8.75% 8.75% 1.05 2.66 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Sharpe Ratio 13.44 0.05 0.93 0.90 0.22-0.15 MINIMUM INVESTMENT / MULTIPLES FOR NEW INVESTMENT " 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 221.7324 50.3709 207.0889 45.1720 13.66 0.10 0.38 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 1% if redeemed on or before expiry of 365 days from the date of allotment. Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Tata Motors Ltd. Auto Ancillaries Motherson Sumi Systems Ltd. Banks HDFC Bank Ltd. ICICI Bank Ltd. Kotak Mahindra Bank Ltd. State Bank Of India Yes Bank Ltd. Indusind Bank Ltd. Cement Ultratech Cement Ltd. Grasim Industries Ltd. Construction Project Larsen & Toubro Ltd. Consumer Non Durables ITC Ltd. Hindustan Unilever Ltd. Eveready Industries India Ltd. Finance Bajaj Finance Ltd. Housing Development Finance Ltd. Gas Gail ( India ) Ltd. Healthcare Services Max India Ltd. Industrial Capital Goods Bharat Electronics Ltd. Siemens Ltd. No. of Shares 33000 442000 348000 368500 1581750 200000 944000 468640 78000 47000 98000 164350 1422500 114000 414000 77500 71000 411554 1020000 1347000 91500 Lakhs 75582.06 2816.53 1250.42 1078.97 7871.71 4517.48 2674.00 2541.25 1622.43 1519.44 1755.31 1017.00 2247.65 3863.51 1839.56 1031.07 1633.78 1298.24 1441.47 861.39 1537.60 954.12 % of Assets 97.27 3.62 1.61 1.39 10.13 5.81 3.44 3.27 2.09 1.96 2.26 1.31 2.89 4.97 2.37 1.33 2.10 1.67 1.86 1.11 1.98 1.23 Industrial Products Cummins India Ltd. Media & Entertainment Zee Entertainment Enterprises Ltd. D.B.Corp Ltd. Petroleum Products Reliance Industries Ltd. Power Power Grid Corporation Of India Ltd. Retailing Future Retail Ltd. Software Infosys Ltd. HCL Technologies Ltd. Tata Elxsi Ltd. Textile Products Raymond Ltd. Transportation Container Corporation Of India Ltd. Interglobe Aviation Ltd. Other Equities^ Repo Cash / Net Current Asset SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B S&P BSE Sensex TRI B S&P BSE Sensex TRI 1,21,509 2.35% 1,29,137 14.49% 4,19,516 10.21% 4,51,137 15.24% 8,02,672 11.60% 8,35,312 13.21% 8,40,000 13,14,619 12.58% 13,54,985 13.43% 12,00,000 23,15,816 12.62% 23,36,390 12.79% 24,00,000 2,10,40,562 18.70% 1,24,27,152 14.46% (Inception date 07-May-1998) (First Installment date 01-Jun-1998) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. ICICI Bank Ltd. Reliance Industries Ltd. ITC Ltd. Infosys Ltd. HCL Technologies Ltd. Maruti Suzuki India Ltd. Kotak Mahindra Bank Future Retail Ltd. Tata Elxsi India Ltd. Total % to V 10.13 5.81 5.35 4.97 4.60 3.75 3.62 3.44 3.40 3.32 48.39 No. of Shares 185131 237000 365000 451000 1170000 448000 290000 320350 209000 196000 115000 65000 Lakhs 1296.94 1321.16 941.70 4155.06 2444.72 2638.72 3572.51 2917.11 2580.52 1926.19 1584.47 791.12 4038.91 506.98 76089.04 1617.00 77706.04 ^ Exposure less than 1% has been clubbed under Other Equities % of Assets 1.67 1.70 1.21 5.35 3.15 3.40 4.60 3.75 3.32 2.48 2.04 1.02 5.20 0.65 97.92 2.08 Industry Allocation Banks 26.70% Software 11.79% Consumer Non Durables 9.21% Auto 6.67% Petroleum Products 5.35% Finance 3.77% Cement 3.57% Retailing 3.40% Industrial Capital Goods 3.21% Power 3.15% Transportation 3.06% Media & Entertainment 3.01% Construction Project 2.89% Textile Products 2.48% Auto Ancillaries 2.21% Gas 1.86% Industrial Products 1.67% Pharmaceuticals 1.42% Healthcare Services 1.11% Non - Ferrous Metals 0.76% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 83.89% 6.39% 9.71% V Movement 140 Tata Large Cap Fund - Reg - Growth S&P BSE Sensex TRI 128 116 104 92 80 May-15 May-16 May-17 May-18 9

Tata Equity Opportunities Fund (An Open-Ended Equity Scheme) VOLATILITY MEASURES^ FUND Sharpe Ratio Primarily focuses on investing in equity and equity related instruments of well researched value and growth oriented companies across all market capitalization. To provide income distribution and / or medium to long term capital gains while at all times emphasizing the importance of capital appreciation. February 25,1993 FUND MAGER Rupesh Patel (Managing Since 7-Jun-13 and overall experience of 17 years) S&P BSE 500 TRI V - Growth - Dividend Reg - Growth Reg - Dividend 1083.57 ( in Cr.) 1146.90 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 14.91 0.07 1.01 0.93 0.30-0.20 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 205.9603 41.1701 193.4273 32.0309 48.56% 48.56% 0.95 2.50 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 14.18 0.12 0.50 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 1% if redeemed on or before expiry of 365 days from the date of allotment. Equity & Equity Related Total Auto Tata Motors Ltd. Maruti Suzuki India Ltd. TVS Motor Company Ltd. Auto Ancillaries Amara Raja Batteries Ltd. Banks HDFC Bank Ltd. ICICI Bank Ltd. Kotak Mahindra Bank Ltd. Yes Bank Ltd. State Bank Of India Cement Ultratech Cement Ltd. Shree Cement Ltd. Dalmia Bharat Ltd. The Ramco Cements Ltd. Commercial Services Security And Intelligence Services (India) Ltd. Construction KNR Constructions Ltd. Brigade Enterprises Ltd. Construction Project Larsen & Toubro Ltd. NCC Ltd. Sadbhav Engineering Ltd. Voltas Ltd. Consumer Durables Havells India Ltd. Bata India Ltd. Consumer Non Durables ITC Ltd. Tata Global Beverages Ltd. Asian Paints (India) Ltd. No. of Shares 955000 29000 250000 144000 460000 2225000 360000 940000 650000 58000 11000 63000 170000 131202 1010000 527473 261832 2400000 750000 250000 400000 270000 1300000 900000 120000 SIP - If you had invested INR 10000 every month Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B S&P BSE 500 TRI B S&P BSE 500 TRI Total Value of AB S&P BSE Sensex TRI AB S&P BSE Sensex TRI (Inception date 25-Feb-1993) (First Installment date 01-Mar-1993) Lakhs 106438.59 2701.70 2475.14 1469.63 1145.59 9826.29 6354.60 4813.20 3254.28 1749.80 2166.13 1852.03 1720.78 1315.55 1724.19 3009.30 1278.33 3580.81 2882.40 2584.88 1350.50 2182.20 2100.87 3530.80 2412.90 1566.72 % of Assets 98.23 2.49 2.28 1.36 1.06 9.07 5.86 4.44 3.00 1.61 2.00 1.71 1.59 1.21 1.59 2.78 1.18 3.30 2.66 2.39 1.25 2.01 1.94 3.26 2.23 1.45 Other Equities^ Repo Net Current Liabilities ^ Exposure less than 1% has been clubbed under Other Equities Lakhs 1989.02 2451.20 108889.79-532.82 108356.97 Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. ICICI Bank Ltd. Kotak Mahindra Bank Larsen & Toubro Ltd. ITC Ltd. Yes Bank Ltd. Knr Construction Future Retail Ltd. NCC Ltd. Tata Motors Ltd. Total % of Assets 1.84 2.26 100.49-0.49 7 Year 10 Year 120,000 360,000 600,000 840,000 1,200,000 3,030,000 120,947 420,594 843,205 1,429,752 2,547,869 36,686,753 1.47% 10.38% 13.59% 14.93% 14.41% 17.14% 125,244 453,384 880,368 1,442,932 2,509,553 25,208,398 8.24% 15.59% 15.34% 15.19% 14.13% 14.73% 129,137 451,137 835,312 1,354,985 2,336,390 19,280,292 14.49% 15.24% 13.21% 13.43% 12.79% 13.00% % to V 9.07 5.86 4.44 3.30 3.26 3.00 2.78 2.72 2.66 2.49 39.58 No. of Shares Ferrous Metals Tata Steel Ltd. 380000 Finance Housing Development Finance Ltd. 110000 Muthoot Finance Ltd. 410000 ICICI Prudential Life Insurance Company Ltd. 350000 Equitas Holdings Ltd. 900000 Mahindra And Mahindra Financial Services Ltd. 300000 LIC Housing Finance Ltd. 240000 Gas Gujarat State Petronet Ltd. 900000 Petroleum Products Reliance Industries Ltd. 270000 Indian Oil Corporation Ltd. 1310000 Hindustan Petroleum Corporation Ltd. 690000 Pharmaceuticals Sun Pharmaceutical Industries Ltd. 416000 Piramal Enterprises Ltd. (Ccd 18Mths) 1670 Divi Laboratories Ltd. 140000 Laurus Labs Ltd. 254000 Power Power Grid Corporation Of India Ltd. 900000 Retailing Future Retail Ltd. 500000 Software Infosys Ltd. 200000 Transportation Interglobe Aviation Ltd. 159362 2186.71 2011.35 1583.22 1480.33 1472.85 1458.30 1140.84 1607.40 2487.51 2280.06 2154.87 1997.42 1649.13 1472.03 1189.99 1880.55 2945.00 2463.80 1939.59 Industry Allocation Banks 23.99% Construction Project 9.60% Finance 9.37% Auto 6.99% Consumer Non Durables 6.93% Cement 6.51% Petroleum Products 6.39% Pharmaceuticals 5.82% Construction 3.96% Consumer Durables 3.95% Retailing 2.72% Software 2.27% Ferrous Metals 2.06% Transportation 1.79% Power 1.74% Commercial Services 1.59% Gas 1.48% Auto Ancillaries 1.06% Media & Entertainment 0.01% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 2.02 1.86 1.46 1.37 1.36 1.35 1.05 1.48 2.30 2.10 1.99 1.84 1.52 1.36 1.10 1.74 2.72 2.27 1.79 Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 68.08% 17.96% 13.97% V Movement Tata Equity Opportunities Fund - Reg - Growth 150 S&P BSE 500 TRI 136 122 108 94 80 May-15 May-16 May-17 May-18 10

Tata Ethical Fund (An open ended equity scheme following Shariah principles) VOLATILITY MEASURES^ FUND Sharpe Ratio An equity scheme which invests primarily in equities of Shariah compliant companies and other instrument if allowed under Shariah principles. To provide medium to long- term capital gains by investing in Shariah compliant equity and equity related instruments of well-researched value and growth - oriented companies. May 24,1996 FUND MAGER Pradeep Gokhale (Managing Since 2-Jan-12 and overall experience of 26 years) Nifty 500 Shariah TRI V - Growth - Dividend Reg - Growth Reg - Dividend 506.09 ( in Cr.) 505.12 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 12.12 0.03 0.86 0.87 0.14-0.38 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 166.4446 97.1696 158.6985 70.6266 51.75% 51.75% 13.08 0.16 0.58 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 1.74 2.73 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 1% of the applicable V, if redeemed on or before 365 days from the date of allotment. (w.e.f. 6th April, 2015) Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Hero Motocorp Ltd. Auto Ancillaries Wabco India Ltd. Amara Raja Batteries Ltd. Apollo Tyres Ltd. MRF Ltd. Cement Ultratech Cement Ltd. Ambuja Cements Ltd. Chemicals Tata Chemicals Ltd. Construction Project Voltas Ltd. NCC Ltd. Consumer Durables Bata India Ltd. Titan Company Ltd. Whirlpool Of India Ltd. Havells India Ltd. Bajaj Electricals Ltd. Consumer Non Durables Hindustan Unilever Ltd. Britannia Industries Ltd. Asian Paints (India) Ltd. Tata Global Beverages Ltd. Nestle India Ltd. Gas Gail ( India ) Ltd. Petronet Lng Ltd. Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. No. of Shares 43300 31300 20000 91849 200000 700 41000 460000 70000 150000 560000 158000 105000 50400 100000 100000 242000 38500 122000 420000 7000 286666 300000 Lakhs 46978.67 3695.63 1110.29 1496.50 730.70 538.30 530.31 1531.23 943.92 517.86 810.30 672.56 1229.40 946.42 778.91 545.55 532.05 3905.03 2283.26 1592.83 1126.02 676.04 1004.05 662.55 % of Assets 92.83 7.30 2.19 2.96 1.44 1.06 1.05 3.03 1.87 1.02 1.60 1.33 2.43 1.87 1.54 1.08 1.05 7.72 4.51 3.15 2.22 1.34 1.98 1.31 No. of Shares 390000 161271 132186 16000 298000 93000 81696 170000 502000 505000 330000 151000 93750 220000 225000 200000 549000 Lakhs 1351.74 1102.21 926.03 851.98 723.54 969.76 913.32 1202.24 1069.01 863.30 574.37 792.00 630.70 1295.80 1601.89 937.90 635.74 Other Equities^ 2677.43 46978.67 Cash / Net Current Asset 3630.19 50608.86 ^ Exposure less than 1% has been clubbed under Other Equities % of Assets SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Nifty 500 Shariah TRI B Nifty 500 Shariah TRI Total Value of AB Nifty 50 TRI AB Nifty 50 TRI 120,000 123,868 6.06% 123,073 4.81% 127,190 11.35% 360,000 416,780 9.76% 452,117 15.39% 447,026 14.60% 600,000 817,860 12.35% 897,755 16.14% 835,245 13.21% 840,000 1,393,334 14.21% 1,515,233 16.56% 1,351,080 13.35% 1,200,000 2,621,464 14.94% 2,665,514 15.25% 2,320,977 12.67% 2,610,000 27,537,040 18.41% 7,453,592 8.74% 15,692,905 14.33% (Inception date 24-May-1996) (First Installment date 01-Sep-1996) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name Hindustan Unilever Ltd. Maruti Suzuki India Ltd. Britannia Industries Ltd. Tech Mahindra Ltd. Asian Paints (India) Ltd. Ultratech Cement Ltd. WABCO India Ltd. Carborundum Universal Ltd. Future Retail Ltd. Bata India Ltd. Total % to V 7.72 7.30 4.51 3.17 3.15 3.03 2.96 2.67 2.56 2.43 39.50 53.94% 28.91% 17.15% Industrial Products Carborundum Universal Ltd. Finolex Cables Ltd. Cummins India Ltd. Schaeffler Ltd. Mahindra CIE Automotive Ltd. Industrial Capital Goods Siemens Ltd. Thermax Ltd. Pesticides UPL Ltd. Rallis India Ltd. Petroleum Products Castrol India Ltd. Indian Oil Corporation Ltd. Pharmaceuticals Cipla Ltd. IPCA Laboratories Ltd. Retailing Future Retail Ltd. Software Tech Mahindra Ltd. Textile Products Mayur Uniquoters Ltd. Transportation Gujarat Pipavav Port Ltd. 2.67 2.18 1.83 1.68 1.43 1.92 1.80 2.38 2.11 1.71 1.13 1.56 1.25 2.56 3.17 1.85 1.26 5.29 92.83 7.17 Industry Allocation Consumer Non Durables 18.94% Industrial Products 10.28% Auto 9.50% Consumer Durables 7.97% Auto Ancillaries 7.43% Cement 5.69% Industrial Capital Goods 4.57% Software 4.56% Pesticides 4.49% Gas 3.29% Construction Project 2.93% Petroleum Products 2.84% Pharmaceuticals 2.81% Retailing 2.56% Textile Products 1.85% Transportation 1.26% Chemicals 1.02% Construction 0.83% 0.00% 5.00% 10.00% 15.00% 20.00% V Movement 160 Tata Ethical Fund - Reg - Growth Nifty 500 Shariah TRI 144 128 112 96 80 May-15 May-16 May-17 May-18 11

Tata Equity P/E Fund (An open ended equity scheme following a value investment strategy) Primarily invests at least 70% of the net assets in equity shares whose rolling P/E ratio on past four quarter earnings for individual companies is less than rolling P/E of the S&P BSE SENSEX stocks. To provide reasonable and regular income and/or possible capital appreciation to its Unitholder. June 29, 2004 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) S&P BSE Sensex TRI V - Growth - Dividend (Trigger Option A 5%) - Dividend (Trigger Option B 10%) Reg - Growth Reg - Dividend (Trigger Option A 5%) Reg - Dividend (Trigger Option B 10%) 3923.53 ( in Cr.) 3666.93 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 144.2355 62.2213 61.5004 138.9830 60.9375 58.5647 68.02% 68.02% 1.25 2.14 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Sharpe Ratio PE MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 16.58 0.17 0.68 0.82 0.44 21.73 13.66 0.10 0.38 23.19 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 1% if redeemed on or before 18 months from the date of allotment (w.e.f 5th April, 2018) Equity & Equity Related Total Auto Bajaj Auto Ltd. Mahindra & Mahindra Ltd. Ashok Leyland Ltd. Hero Motocorp Ltd. Tata Motors Ltd. Maruti Suzuki India Ltd. Auto Ancillaries Apollo Tyres Ltd. Banks Yes Bank Ltd. City Union Bank Ltd. Cement Grasim Industries Ltd. Chemicals Tata Chemicals Ltd. Construction Project Larsen & Toubro Ltd. Consumer Non Durables Hindustan Unilever Ltd. Radico Khaitan Ltd. Finance Housing Development Finance Ltd. Muthoot Finance Ltd. JM Financial Ltd. Gas Gail (India) Ltd. Industrial Capital Goods Bharat Electronics Ltd. Industrial Products Finolex Cables Ltd. No. of Shares 612600 1600000 5130000 161000 1885000 47700 1500000 9350000 4350000 1365000 1130000 915000 300000 900000 1920000 1900000 4450000 1892426 6200000 1102968 Lakhs 354983.90 16859.67 14776.00 7607.79 5711.07 5332.67 4071.17 4037.25 32369.70 8510.78 14165.29 8359.74 12513.54 4840.95 4146.75 35107.20 7336.85 6092.05 6628.22 7077.30 7538.23 % of Assets 90.48 4.30 3.77 1.94 1.46 1.36 1.04 1.03 8.25 2.17 3.61 2.13 3.19 1.23 1.06 8.95 1.87 1.55 1.69 1.80 1.92 Other Equities^ CBLO Repo Net Current Liabilities 2110000 3310000 2950000 1050000 7232000 934620 1800000 930000 465000 11762.20 30495.03 5134.48 4241.48 15111.26 5504.91 12815.10 7324.68 4569.79 44942.75 12497.98 29715.88 397197.76-4844.76 392353.00 3.00 7.77 1.31 1.08 3.85 1.40 3.27 1.87 1.16 11.45 3.19 7.57 101.24-1.24 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B S&P BSE Sensex TRI B S&P BSE Sensex TRI 120,000 124,112 6.45% 129,137 14.49% 360,000 481,229 19.82% 451,137 15.24% 600,000 1,034,463 21.96% 835,312 13.21% 840,000 1,769,064 20.92% 1,354,985 13.43% 1,200,000 3,244,166 18.90% 2,336,390 12.79% 1,670,000 6,571,687 17.99% 4,365,289 12.84% (Inception date 29-Jun-2004) (First Installment date 01-Jul-2004) Top 10 Holdings Equity Issuer Name HDFC Ltd. Yes Bank Ltd. Reliance Industries Ltd. Bajaj Auto Ltd. Power Grid Corporation Of India Ltd. Mahindra & Mahindra Ltd. Grasim Industries Ltd. Tech Mahindra Ltd. Larsen & Toubro Ltd. Zee Entertainment Enterprises Ltd. Total % to V 8.95 8.25 7.77 4.30 3.85 3.77 3.61 3.27 3.19 3.00 49.96 Media & Entertainment Zee Entertainment Enterprises Ltd. Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Bharat Petroleum Corporation Ltd. Power Power Grid Corporation Of India Ltd. Retailing Future Retail Ltd. Software Tech Mahindra Ltd. Persistent Systems Ltd. Textile Products Raymond Ltd. No. of Shares ^ Exposure less than 1% has been clubbed under Other Equities Lakhs Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark Source MFI Explorer Industry Allocation Finance Auto Banks Petroleum Products Cement 5.58% Software 5.13% Construction Project 4.03% Consumer Non Durables 3.94% Media & Entertainment 3.93% Power 3.85% Auto Ancillaries 2.68% Gas 2.67% Industrial Products 2.62% Chemicals 2.13% Industrial Capital Goods 1.80% Retailing 1.40% Textile Products 1.16% Fertilisers 0.54% Hotels, Resorts And Other Recreational 0.11% 14.44% 13.85% 10.42% 10.16% % of Assets 0.00% 5.00% 10.00% 15.00% 20.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 72.78% 18.27% 8.95% V Movement 170 Tata Equity P/E Fund - Reg - Growth S&P BSE Sensex TRI 152 134 116 98 80 May-15 May-16 May-17 May-18 12

Tata Mid Cap Growth Fund (An open-ended equity scheme predominantly investing in mid cap stocks.) An equity scheme with focus towards mid cap stocks. To provide income distribution and / or medium to long term capital gains. Investments would be focused towards mid-cap stocks. July 1, 1994 FUND MAGER Rupesh Patel (Managing Since 27-Jun-17 and overall experience of 17 years ) & Danesh Mistry (Assistant fund manager) (Managing Since 1-Apr-16 and overall experience of 14 years) Nifty Midcap 100 TRI V - Growth - Dividend Reg - Growth Reg - Dividend 658.37 ( in Cr.) 665.10 ( in Cr.) VOLATILITY MEASURES^ FUND TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) Sharpe Ratio 17.60 0.07 0.97 0.89 0.39-0.27 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. 141.2030 50.0330 135.4863 40.8778 61.04% 61.04% 1.90 2.66 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 17.14 0.14 0.67 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 No. of Shares Equity & Equity Related Total Auto Ancillaries Exide Industries Ltd. 465500 Amara Raja Batteries Ltd. 150000 Apollo Tyres Ltd. 360000 Banks Federal Bank Ltd. 2740000 City Union Bank Ltd. 1070000 Yes Bank Ltd. 585000 Cement Dalmia Bharat Ltd. 53700 Shree Cement Ltd. 8000 The Ramco Cements Ltd. 142000 J K Cement Ltd. 100000 Chemicals Solar Industries India Ltd. 118500 Navin Fluorine International Ltd. 167495 Vinati Organics Ltd. 115000 Construction Knr Constructions Ltd. 770000 Nbcc India Ltd. 1360000 Brigade Enterprises Ltd. 401236 Somany Ceramics Ltd. 157800 Construction Project Voltas Ltd. 555000 NCC Ltd. 1400000 Sadbhav Engineering Ltd. 400000 Consumer Durables Bata India Ltd. 384000 Havells India Ltd. 200000 Consumer Non Durables Glaxo Smithkline Con Healthcar Ltd. 30000 Tata Global Beverages Ltd. 355000 Godrej Industries Ltd. 110000 Finance Muthoot Finance Ltd. 233000 Satin Creditcare Network Ltd. 174000 Hotels, Resorts And Other Recreational Activities Indian Hotels Co. Ltd. 1500000 Lakhs 64864.80 1208.44 1193.33 968.94 2326.26 2093.46 2025.27 1466.76 1346.93 1098.87 942.45 1379.93 1151.19 1149.89 2294.22 1250.52 972.40 828.84 2998.11 1681.40 1378.60 2987.90 1091.10 1967.84 951.76 660.39 899.73 687.13 2121.75 % of Assets 98.52 1.84 1.81 1.47 3.53 3.18 3.08 2.23 2.05 1.67 1.43 2.10 1.75 1.75 3.48 1.90 1.48 1.26 4.55 2.55 2.09 4.54 1.66 2.99 1.45 1.37 1.04 3.22 Gas Gujarat State Petronet Ltd. Petronet Lng Ltd. Indraprastha Gas Ltd. Industrial Products AIA Engineering Ltd. Mahindra Cie Automotive Ltd. Paper Tamilnadu Newsprint & Papers Ltd. Pesticides Pi Industries Ltd. Bayer Cropscience Ltd. Petroleum Products Indian Oil Corporation Ltd. Hindustan Petroleum Corporation Ltd. Pharmaceuticals Eris Lifesciences Ltd. Piramal Enterprises Ltd. (Ccd 18Mths) Retailing Future Retail Ltd. Future Consumer Ltd. Trent Ltd. Software Tata Elxsi Ltd. Textile Products Arvind Ltd. Other Equities^ Repo Net Current Liabilities No. of Shares 680000 400000 265000 105000 505000 209300 172200 20000 720000 215000 162024 794 450000 3300000 340000 74000 577000 ^ Exposure less than 1% has been clubbed under Other Equities Lakhs 1214.48 883.40 702.25 1627.82 1226.14 662.02 1450.61 920.25 1253.16 671.45 1300.65 784.08 2650.50 1914.00 1125.40 913.68 2239.05 2202.45 1228.55 66093.35-256.51 65836.84 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Nifty Midcap 100 TRI B Nifty Midcap 100 TRI Total Value of AB Nifty 50 TRI AB Nifty 50 TRI 1,18,764-1.91% 1,18,985-1.57% 1,27,190 11.35% 4,28,966 11.74% 4,48,029 14.76% 4,47,026 14.60% 9,53,108 18.59% 9,59,206 18.85% 8,35,245 13.21% 8,40,000 17,14,593 20.04% 16,12,050 18.30% 13,51,080 13.35% 12,00,000 32,41,282 18.88% 29,11,130 16.89% 23,20,977 12.67% 28,70,000 2,01,06,904 17.12% 2,06,86,945 17.35% 1,36,99,642 13.94% (Inception date 01-Jul-1994) (First Installment date 01-Jul-1994) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performace refer pages 36-48 *B Benchmark, AB Additional Benchmark Source MFI Explorer % of Assets 1.84 1.34 1.07 2.47 1.86 1.01 2.20 1.40 1.90 1.02 1.98 1.19 4.03 2.91 1.71 1.39 3.40 3.35 1.87 100.39-0.39 ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 1% if redeemed on or before expiry of 365 days from the date of allotment (w.e.f. 6th April, 2015) Top 10 Holdings Equity Issuer Name Voltas Ltd. Bata India Ltd. Future Retail Ltd. Federal Bank Ltd. Knr Construction Arvind Ltd. Indian Hotels Co. Ltd. City Union Bank Ltd. Yes Bank Ltd. Glaxo Smithkline Con Healthcar Ltd. Total % to V 4.55 4.54 4.03 3.53 3.48 3.40 3.22 3.18 3.08 2.99 36.00 Industry Allocation Banks 9.79% Construction Project 9.20% Retailing 8.64% Construction 8.12% Cement 7.37% Consumer Durables 6.20% Chemicals 5.59% Consumer Non Durables 5.44% Auto Ancillaries 5.12% Pharmaceuticals 4.59% Industrial Products 4.33% Gas 4.25% Pesticides 3.60% Textile Products 3.40% Finance 3.37% Hotels, Resorts And Other 3.22% Petroleum Products 2.92% Software 1.39% Paper 1.01% Non - Ferrous Metals 0.96% 0.00% 5.00% 10.00% 15.00% Market Capitalisation wise Exposure V Movement Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 13.18% 67.30% 19.52% 180 Tata Mid Cap Growth Fund - Reg - Dividend Nifty Midcap 100 TRI 160 140 120 100 80 May-15 May-16 May-17 May-18 13

Tata Dividend Yield Fund (An Open-Ended Equity Scheme) "Primarily focuses on investing in high dividend yield stocks. Minimum 70% of the net assets shall be invested in stocks having dividend yield higher than dividend yield of S&P BSE SENSEX stocks." To provide income distribution and / or medium to long term capital gains by investing predominantly in high dividend yield stocks. November 22, 2004 FUND MAGER Rupesh Patel (Managing Since 7-Jun-13 and overall experience of 17 years) Nifty 500 TRI V - Growth - Dividend Reg - Growth Reg - Dividend 296.14 ( in Cr.) 301.82 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 78.8377 32.5661 76.0567 30.4571 1% 1% VOLATILITY MEASURES^ FUND Sharpe Ratio Dividend Yield MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 14.03 0.07 0.93 0.89 0.29-0.19 1.92 2.26 2.86 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 14.19 0.12 0.49 1.14 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 * For S&P BSE Sensex 1% if redeemed on or before expiry of 365 days from the date of allotment. Equity & Equity Related Total Auto Bajaj Auto Ltd. Banks HDFC Bank Ltd. ICICI Bank Ltd. Construction Project Sadbhav Engineering Ltd. Consumer Non Durables Hindustan Unilever Ltd. ITC Ltd. Finance Manappuram Finance Ltd. ICICI Prudential Life Insuranc Company Ltd. Muthoot Finance Ltd. Industrial Products Finolex Industries Ltd. Swaraj Engines Ltd. Cummins India Ltd. Media & Entertainment Sun Tv Network Ltd. Minerals/Mining Coal India Ltd. Petroleum Products Hindustan Petroleum Corporation Ltd. 45500 98750 506000 187665 100000 403000 1930000 294000 185000 260000 46500 114319 150000 250000 350000 Lakhs 26094.10 1252.23 2109.45 1445.14 646.79 1613.65 1094.55 2079.58 1243.47 714.38 1614.60 920.21 800.86 1375.95 736.25 1093.05 88.11 4.23 7.12 4.88 2.18 5.45 3.70 7.02 4.20 2.41 5.45 3.11 2.70 4.65 2.49 3.69 Power Power Grid Corporation Of India Ltd. Software HCL Technologies Ltd. Infosys Ltd. NIIT Technologies Ltd. Mphasis Ltd. Other Equities^ Repo Net Current Liabilities No. of Shares 850000 192000 120000 120000 91805 Lakhs 1776.08 1748.35 1478.28 1341.42 1009.81 0.00 3578.36 29672.46-58.26 29614.20 % of Assets 6.00 5.90 4.99 4.53 3.41 0.00 12.08 100.19-0.19 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Nifty 500 TRI B Nifty 500 TRI Total Value of AB Nifty 50 TRI AB Nifty 50 TRI 120,000 120,640 % 125,038 7.91% 127,190 11.35% 360,000 420,191 10.32% 452,173 15.40% 447,026 14.60% 600,000 835,169 13.20% 877,679 15.22% 835,245 13.21% 840,000 1,374,641 13.83% 1,438,403 15.10% 1,351,080 13.35% 1,200,000 2,604,561 14.82% 2,483,974 13.94% 2,320,977 12.67% 1,620,000 4,626,033 14.42% 4,155,539 13.01% 3,964,917 12.39% (Inception date 22-Nov-2004) (First Installment date 01-Dec-2004) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. Manappuram Finance Ltd. Power Grid Corporation Of India Ltd. HCL Technologies Ltd. Hindustan Unilever Ltd. Finolex Industries Ltd. Infosys Ltd. ICICI Bank Ltd. Sun Tv Network Ltd. NIIT Technologies Ltd. Total Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. No. of Shares % of Assets % to V 7.12 7.02 6.00 5.90 5.45 5.45 4.99 4.88 4.65 4.53 55.99 65.02% 17.65% 17.33% ^ Exposure less than 1% has been clubbed under Other Equities Industry Allocation Software 18.84% Finance 13.63% Banks 12.00% Industrial Products 11.26% Consumer Non Durables 9.14% Power 6.00% Media & Entertainment 4.65% Auto 4.23% Petroleum Products 3.69% Minerals/mining 2.49% Construction Project 2.18% Pharmaceuticals 0.00% 0.00% 5.00% 10.00% 15.00% 20.00% V Movement 150 Tata Dividend Yield Fund - Reg - Growth Nifty 500 TRI 136 122 108 94 80 May-15 May-16 May-17 May-18 V 14

Tata India Tax Savings Fund (Erstwhile known as Tata Long Term Equity Fund; renamed w.e.f December 21, 2015) (An open ended equity linked savings scheme with a statutory lock in of s and tax benefit) VOLATILITY MEASURES^ FUND Sharpe Ratio An equity linked tax savings scheme (ELSS) that aims to provide medium to long term capital gains along with income tax benefit under Section 80C of the Income Tax Act. To provide medium to long term capital gains along with income tax relief to its Unitholders, while at all times emphasising the importance of capital appreciation. March 31,1996 FUND MAGER Rupesh Patel (Managing Since 1-Apr-15 and overall experience of 17 years) S&P BSE Sensex TRI V - Dividend Reg - Dividend - Growth Reg- Growth 1401.49 ( in Cr.) 1384.40 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 15.54 0.15 0.95 0.70 0.70 0.30 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 500/- and in multiples of 500/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 500/- and multiples of 500/- thereafter. Entry Load Not Applicable Exit Load 95.0777 66.2522 18.2962 17.4972 23.00% 23.00% 13.66 0.10 0.38 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 Nil (Compulsory lock-in period for 3 years) 1.21 2.07 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. Equity & Equity Related Total Auto Tata Motors Ltd. Auto Ancillaries MRF Ltd. Banks HDFC Bank Ltd. Kotak Mahindra Bank Ltd. ICICI Bank Ltd. Yes Bank Ltd. Cement Ncl Industries Ltd. Dalmia Bharat Ltd. Chemicals Gujarat Alkalies & Chemicals Ltd. Construction KNR Constructions Ltd. Construction Project Larsen & Toubro Ltd. NCC Ltd. Consumer Durables Havells India Ltd. Bata India Ltd. Consumer Non Durables Nestle India Ltd. ITC Ltd. Tata Global Beverages Ltd. Ferrous Metals Tata Steel Ltd. Finance Housing Development Finance Ltd. Mahindra And Mahindra Financial Services Ltd. IDFC Ltd. Bajaj Finance Ltd. Hotels, Resorts And Other Recreational Activities Indian Hotels Co. Ltd. Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. Kotak Mahindra Bank ICICI Bank Ltd. HDFC Ltd. Reliance Industries Ltd. Tata Motors Ltd. Avenue Supermarts Ltd. Piramal Enterprises Ltd. Yes Bank Ltd. Future Retail Ltd. Total Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. No. of Shares 1178000 2500 460000 560000 2085000 799440 822400 53000 230000 665000 173000 1700000 410000 182100 23000 780000 585000 359600 310000 500000 3100000 70000 1200000 Lakhs 130810.55 3332.56 1893.97 9826.29 7487.20 5954.76 2767.66 1653.02 1447.64 1505.70 1981.37 2365.95 2041.70 2236.76 1416.92 2221.28 2118.48 1568.39 2069.32 5668.35 2430.50 1571.70 1475.67 1697.40 % of Assets 93.34 2.38 1.35 7.01 5.34 4.25 1.97 1.18 1.03 1.07 1.41 1.69 1.46 1.60 1.01 1.58 1.51 1.12 1.48 4.04 1.73 1.12 1.05 1.21 % to V 7.01 5.34 4.25 4.04 3.29 2.38 2.23 2.01 1.97 1.89 34.41 58.26% 25.49% 16.25% Industrial Products Mahindra Cie Automotive Ltd. Petroleum Products Reliance Industries Ltd. Hindustan Petroleum Corporation Ltd. Indian Oil Corporation Ltd. Pharmaceuticals Divi Laboratories Ltd. Eris Lifesciences Ltd. Piramal Enterprises Ltd. Retailing Avenue Supermarts Ltd. Future Retail Ltd. Future Consumer Ltd. Software HCL Technologies Ltd. Other Equities^ CBLO Repo Net Current Liabilities No. of Shares 600000 500000 840000 1020000 215000 232176 67000 200000 450000 4000000 200000 ^ Exposure less than 1% has been clubbed under Other Equities Lakhs 1456.80 4606.50 2623.32 1775.31 2260.62 1863.79 1592.59 313 2650.50 2320.00 1821.20 37976.33 9798.42 289.42 140898.39-749.25 140149.14 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B S&P BSE Sensex TRI B S&P BSE Sensex TRI (Inception date 31-Mar-1996) (First Installment date 01-Jul-1996) 1,22,736 4.27% 1,29,137 14.49% 4,52,885 15.51% 4,51,137 15.24% 9,46,459 18.30% 8,35,312 13.21% 8,40,000 16,19,928 18.44% 13,54,985 13.43% 12,00,000 29,54,874 17.17% 23,36,390 12.79% 26,30,000 3,58,30,195 20.09% 1,50,33,554 13.85% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark Source MFI Explorer % of Assets 1.04 3.29 1.87 1.27 1.61 1.33 1.14 2.23 1.89 1.66 1.30 27.10 6.99 0.21 100.54-0.54 Industry Allocation Banks 20.26% Finance 11.97% Pharmaceuticals 6.80% Retailing 6.73% Petroleum Products 6.43% Industrial Products 4.43% Cement 4.30% Consumer Non Durables 4.22% Auto 4.13% Consumer Durables 4.00% Construction Project 3.83% Construction 2.92% Chemicals 2.34% Ferrous Metals 2.20% Auto Ancillaries 2.11% Power 1.49% Software 1.30% Hotels, Resorts And Other 1.21% Transportation 0.98% Healthcare Services 0.81% Paper 0.51% Gas 0.38% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% V Movement 160 Tata India Tax Savings Fund - Reg - Dividend S&P BSE Sensex TRI 144 128 112 96 80 May-15 May-16 May-17 May-18 15

Tata Banking & Financial Services Fund (An open ended equity scheme investing in Banking & Financial Services Sector) Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Banking and Financial Services sector in India. The investment objective of the scheme is to seek long term capital appreciation by investing atleast 80% of its net assets in equity/equity related instruments of the companies in the Banking and Financial Services sector in India. December 28, 2015 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) & Pradeep Gokhale (Managing Since 28-Dec-15 and overall experience of 26 years) Nifty Financial Services TRI V - Dividend - Growth - Dividend - Growth 259.71 ( in Cr.) 253.19 ( in Cr.) TURN OVER 18.8901 18.8901 16.6836 18.1260 ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and in multiples of Re. 1/- thereafter. **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Sharpe Ratio ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 Entry Load Not Applicable Exit Load 18.28 0.32 0.85 0.73 2.00 0.56 1.32 2.76 18.27 0.25 1.33 0.25% of V if redeemed on or before expiry of 3 months from the date of allotment Equity & Equity Related Total Banks HDFC Bank Ltd. Kotak Mahindra Bank Ltd. Yes Bank Ltd. DCB Bank Ltd. City Union Bank Ltd. Bandhan Bank Ltd. Finance Housing Development Finance Ltd. Bajaj Finserv Ltd. Max Financial Services Ltd. Bajaj Finance Ltd. Muthoot Finance Ltd. ICICI Prudential Life Insurance Company Ltd. Jm Financial Ltd. Gruh Finance Ltd. SBI Life Insurance Company Ltd. Shriram City Union Finance Ltd. Geojit Financial Services Ltd. Repo Net Current Liabilities No. of Shares 276700 226800 693000 595000 520900 167400 97800 24300 277300 62000 338000 272000 788000 80000 80000 22300 420000 % of Lakhs Assets 25725.49 99.05 5910.73 3032.32 2399.17 1103.43 1019.14 786.45 1788.27 1469.77 1355.30 1307.02 1305.19 1150.42 1078.77 566.72 552.32 501.68 398.79 258.90 25984.39-13.10 25971.29 22.76 11.68 9.24 4.25 3.92 3.03 6.89 5.66 5.22 5.03 5.03 4.43 4.15 2.18 2.13 1.93 1.54 100.05-0.05 Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 42.40% 42.40% MINIMUM INVESTMENT / MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. Tata Digital India Fund (An open ended equity scheme investing in Information Technology Sector) Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Information Technology sector in India. The investment objective of the scheme is to seek long term capital appreciation by investing atleast 80% of its net assets in equity/equity related instruments of the companies in Information Technology Sector in India.However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.the Scheme does not assure or guarantee any returns. December 28,2015 FUND MAGER Sonam Udasi (Managing Since 1-Apr - 16 and overall experience of 20 years) & Pradeep Gokhale (Managing Since 28-Dec-15 and overall experience of 26 years) S&P BSE IT TRI V - Dividend - Growth - Dividend - Growth 166.00 ( in Cr.) 139.74 ( in Cr.) 14.6079 14.6079 14.0046 14.0046 MINIMUM INVESTMENT / MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and in multiples of Re. 1/- thereafter. 1.39 2.81 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND 18.63 Sharpe Ratio 0.15 0.92 0.90 0.87 0.29 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 Entry Load Not Applicable Exit Load 18.72 0.11 0.56 0.25% of V if redeemed on or before expiry of 3 months from the date of allotment Equity & Equity Related Total Software Tata Consultancy Services Ltd. Tech Mahindra Ltd. Infosys Ltd. Niit Technologies Ltd. Tata Elxsi Ltd. Persistent Systems Ltd. L&T Technology Services Ltd. Mindtree Ltd. Cyient Ltd. Sonata Software Ltd. Kpit Technologies Ltd. Info Edge (India) Ltd. Majesco Ltd. Oracle Financials Services Soft Ltd. HCL Technologies Ltd. Ramco Systems Ltd. Mphasis Ltd. Repo Net Current Liabilities No. of Shares 155200 232700 127093 134000 107229 146200 62500 79700 83500 137000 182000 39000 96000 10800 41800 84200 24834 % of Lakhs Assets 15532.06 93.56 2707.93 1656.71 1565.66 1497.92 1323.96 1151.47 829.88 803.10 612.72 512.59 503.78 488.49 480.14 431.96 380.63 311.96 273.16 1132.08 16664.14-63.79 16600.35 16.31 9.98 9.43 9.02 7.98 6.94 5.00 4.84 3.69 3.09 3.03 2.94 2.89 2.60 2.29 1.88 1.65 6.82 100.38-0.38 TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 22.34% 22.34% 16

Tata India Consumer Fund (An open ended equity scheme investing in Consumption Oriented Sector) Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Consumption Oriented sectors in India. The investment objective of the scheme is to seek long term capital appreciation by investing atleast 80% of its assets in equity/equity related instruments of the companies in the Consumption Oriented sectors in India.However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.the Scheme does not assure or guarantee any returns. December 28, 2015 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) & Rupesh Patel (Managing Since 28-Dec-15 and overall experience of 17 years) Nifty India Consumption TRI V - Dividend - Growth - Dividend - Growth 1118.33 ( in Cr.) 1038.99 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) MINIMUM INVESTMENT / MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. 19.0279 19.0279 16.7909 18.2531 33.14% 33.14% ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and in multiples of Re. 1/- thereafter. 0.95 2.38 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Sharpe Ratio 16.15 0.36 0.94 0.73 1.78 0.81 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 14.44 0.22 0.92 Entry Load Not Applicable Exit Load 1% if redeemed on or before 18 months from the date of allotment (w.e.f 5th April, 2018) Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Mahindra & Mahindra Ltd. Bajaj Auto Ltd. Ashok Leyland Ltd. Auto Ancillaries MRF Ltd. Ceat Ltd. Consumer Durables Bata India Ltd. Havells India Ltd. Greenply Industries Ltd. Amber Enterprises India Ltd. Whirlpool Of India Ltd. Consumer Non Durables Hindustan Unilever Ltd. ITC Ltd. Glaxo Smithkline Con Healthcar Ltd. Radico Khaitan Ltd. Dabur India Ltd. Jubilant Foodworks Ltd. Britannia Industries Ltd. Tata Global Beverages Ltd. Nestle India Ltd. Asian Paints (India) Ltd. Media & Entertainment Zee Entertainment Enterprises Ltd. Sun Tv Network Ltd. Retailing Future Retail Ltd. Future Consumer Ltd. Trent Ltd. Avenue Supermarts Ltd. Textile Products Page Industries Ltd. Raymond Ltd. Other Equities^ CBLO Repo Net Current Liabilities No. of Shares 93200 500000 116500 1460000 3000 94500 614000 510000 1035000 150000 91050 630000 2930000 58000 815569 940000 142000 58700 1070000 29000 170000 772410 455000 1250000 5735000 345000 72000 11100 198500 % of Lakhs Assets 106247.31 95.01 7954.57 4617.50 3206.25 2165.18 2272.76 1285.96 4777.53 2782.31 2679.62 1617.00 1407.13 10166.00 7957.88 3804.48 3757.73 3607.25 3567.18 3481.23 2868.67 2800.75 2219.52 4305.80 4173.72 7362.50 3326.30 1141.95 1127.16 2797.24 1950.76 1065.38 4999.19 653.65 111900.15-66.76 111833.39 7.11 4.13 2.87 1.94 2.03 1.15 4.27 2.49 2.40 1.45 1.26 9.09 7.12 3.40 3.36 3.23 3.19 3.11 2.57 2.50 1.98 3.85 3.73 6.58 2.97 1.02 1.01 2.50 1.74 0.95 4.47 0.58 100.05-0.05 Tata India Pharma & Healthcare Fund (An open ended equity scheme investing in Pharma and Healthcare Services Sector) Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Pharma & Healthcare sectors in India. The investment objective of the scheme is to seek long term capital appreciation by investing atleast 80% of its net assets in equity/equity related instruments of the companies in the pharma & healthcare sectors in India.However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.the Scheme does not assure or guarantee any returns. December 28, 2015 FUND MAGER Sonam Udasi (Managing Since 1-Apr - 16 and overall experience of 20 years) & Rupesh Patel (Managing Since 28-Dec-15 and overall experience of 17 years) Nifty Pharma TRI V - Dividend - Growth - Dividend - Growth 133.07 ( in Cr.) 137.30 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) MINIMUM INVESTMENT / MULTIPLES FOR NEW INVESTMENT 8.4343 8.4343 8.0921 8.0921 59.58% 59.58% ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and in multiples of Re. 1/- thereafter. 1.26 2.88 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Sharpe Ratio 15.55-0.25 0.83 0.83-1.36 0.30 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 17.10-0.35-1.72 Entry Load Not Applicable Exit Load 0.25% of V if redeemed on or before expiry of 3 months from the date of allotment Equity & Equity Related Total Healthcare Services Apollo Hospitals Enterprise Ltd. Pharmaceuticals Sun Pharmaceutical Industries Ltd. Piramal Enterprises Ltd. IPCA Laboratories Ltd. Syngene International Ltd. Dishman Carbogen Amcis Ltd. Sanofi India Ltd. Divi Laboratories Ltd. Abbott India Ltd. Cadila Healthcare Ltd. Alembic Pharmaceuticals Ltd. Lupin Ltd. Aurobindo Pharma Ltd. Cipla Ltd. Sun Pharma Advanced Research Co Ltd. FDC Ltd. Alkem Laboratories Ltd. Repo Cash / Net Current Asset ^ Exposure less than 1% has been clubbed under Other Equities No. of Shares 78300 430100 53617 189000 178000 259000 12500 59300 9046 150000 124000 63000 80000 82000 68000 101000 11000 % of Lakhs Assets 12229.37 91.90 743.62 2065.13 1274.48 1271.50 1063.73 800.44 625.38 623.51 602.57 543.45 528.30 483.84 445.20 430.09 276.08 240.63 211.42 881.05 13110.42 196.27 13306.69 5.59 15.52 9.58 9.56 7.99 6.02 4.70 4.69 4.53 4.08 3.97 3.64 3.35 3.23 2.07 1.81 1.59 6.62 98.52 1.48 5,000/- and in multiples of Re. 1/- thereafter. 17

Tata Resources & Energy Fund (An open ended equity scheme investing in Resources and Energy Sector) Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Resources & Energy sectors in India. The investment objective of the scheme is to seek long term capital appreciation by investing atleast 80% of its net assets in equity/equity related instruments of the companies in the Resources & Energy sectors in India.However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.the Scheme does not assure or guarantee any returns. December 28, 2015 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) & Rupesh Patel (Managing Since 28-Dec-15 and overall experience of 17 years) Nifty Commodities TRI V - Dividend - Growth - Dividend - Growth 45.52 ( in Cr.) 46.28 ( in Cr.) TURNOVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 15.2810 15.2810 13.4301 14.6357 62.10% 62.10% ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and in multiples of Re. 1/- thereafter. 1.29 2.91 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND 14.98 Sharpe Ratio 0.21 0.80 0.91 1.13-0.07 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 Entry Load Not Applicable Exit Load 17.62 0.24 1.21 0.25% of V if redeemed on or before expiry of 3 months from the date of allotment Equity & Equity Related Total Cement Ultratech Cement Ltd. Grasim Industries Ltd. Dalmia Bharat Ltd. J K Cement Ltd. Chemicals Tata Chemicals Ltd. Pidilite Industries Ltd. Vinati Organics Ltd. Ferrous Metals Tata Metaliks Ltd. APL Apollo Tubes Ltd. Ratnamani Metals & Tubes Ltd. Fertilisers Chambal Fertiliser & Chemicals Ltd. Gas Gail ( India ) Ltd. Petronet Lng Ltd. Minerals/mining Gujarat Mineral Dev Corp Ltd. Coal India Ltd. Non - Ferrous Metals Hindalco Industries Ltd. Pesticides Bayer Cropscience Ltd. Rallis India Ltd. UPL Ltd. Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Castrol India Ltd. Hindustan Petroleum Corporation Ltd. Bharat Petroleum Corporation Ltd. Power Power Grid Corporation Of India Ltd. No. of Shares 7500 22500 3300 9400 25000 15500 13350 23500 5300 4500 57000 85333 90600 106000 16000 40000 3200 53500 14500 54000 165000 128000 36000 23300 219700 % of Lakhs Assets 4415.07 96.99 280.10 233.49 90.14 88.59 184.95 179.09 133.49 184.19 99.71 47.25 96.19 298.88 200.09 122.85 47.12 94.04 147.24 113.93 102.54 497.50 287.18 218.82 112.43 94.12 459.06 6.15 5.13 1.98 1.95 4.06 3.93 2.93 4.05 2.19 1.04 2.11 6.57 4.40 2.70 1.04 2.07 3.23 2.50 2.25 10.93 6.31 4.81 2.47 2.07 10.09 MINIMUM INVESTMENT / MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. Other Equities^ Repo Cash / Net Current Asset ^ Exposure less than 1% has been clubbed under Other Equities 2.08 120.10 4535.17 16.74 4551.91 0.05 2.64 99.63 0.37 18

Tata Infrastructure Fund (An open ended equity scheme investing in Infrastructure sector.) Primarily focuses on equity / equity related instruments of the companies in the Infrastructure sector in India. To provide income distribution and / or medium to long term capital gains by investing predominantly in equity / equity related instruments of the companies in the infrastructure sector. December 31, 2004 FUND MAGER Rupesh Patel (Managing Since 1-Jan-14 and overall experience of 17 years) S&P BSE India Infrastructure TRI V - Growth - Dividend Reg - Growth Reg - Dividend 627.26 ( in Cr.) 636.10 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 58.6899 30.6754 57.1980 27.1384 34.37% 34.37% 2.14 2.73 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Sharpe Ratio MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 17.32 0.08 0.82 0.87 0.48 0.25 19.99 0.03 0.17 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 0.25% of V if redeemed on or before expiry of 3 months from the date of allotment Equity & Equity Related Total Banks ICICI Bank Ltd. HDFC Bank Ltd. Yes Bank Ltd. Cement Shree Cement Ltd. The Ramco Cements Ltd. Ultratech Cement Ltd. J K Cement Ltd. Birla Corporation Ltd. Chemicals Solar Industries India Ltd. Construction KNR Constructions Ltd. Welspun Enterprises Ltd. NBCCIndia Ltd. Brigade Enterprises Ltd. Construction Project Larsen & Toubro Ltd. Sadbhav Engineering Ltd. NCC Ltd. Sadbhav Infrastructure Project Ltd. Consumer Non Durables Asian Paints (India) Ltd. Ferrous Metals Tata Steel Ltd. APL Apollo Tubes Ltd. Finance IDFC Ltd. No. of Shares 1170000 90000 450000 13500 190000 35800 136930 90000 100000 1106000 660000 1000000 298000 248500 972000 1755000 1080925 81000 382800 40500 2070000 SIP - If you had invested INR 10000 every month Lakhs 61177.90 3341.52 1922.54 1557.90 2272.95 1470.32 1337.02 1290.50 672.57 1164.50 3295.33 1255.98 919.50 722.20 3398.49 3350.00 2107.76 1390.61 1057.54 2202.82 761.95 1049.49 % of Assets 97.53 5.33 3.07 2.48 3.62 2.34 2.13 2.06 1.07 1.86 5.25 2.00 1.47 1.15 5.42 5.34 3.36 2.22 1.69 3.51 1.21 1.67 No. of Shares Lakhs 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B S&P BSE India Infrastructure TRI B S&P BSE India Infrastructure TRI Total Value of AB Nifty 50 TRI AB Nifty 50 TRI 1,19,144-1.33% 1,17,221-4.29% 1,27,190 11.35% 4,29,631 11.84% 4,38,944 13.33% 4,47,026 14.60% 8,74,836 15.08% 8,28,056 12.86% 8,35,245 13.21% 8,40,000 13,66,793 13.67% 13,41,999 13.16% 13,51,080 13.35% 12,00,000 21,11,588 10.89% 20,68,978 10.51% 23,20,977 12.67% 1 33,36,853 10.40% 27,27,279 7.63% 38,40,031 12.29% (Inception date 31-Dec-2004) (First Installment date 01-Feb-2005) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name Larsen & Toubro Ltd. Sadbhav Engineering Ltd. ICICI Bank Ltd. KNRConstruction Astral Poly Technik Ltd. Power Grid Corporation Of India Ltd. Shree Cement Ltd. Tata Steel Ltd. NCC Ltd. HDFC Bank Ltd. Total % to V 5.42 5.34 5.33 5.25 4.43 4.11 3.62 3.57 3.36 3.06 43.49 Gas Gujarat State Petronet Ltd. Industrial Capital Goods ABB India Ltd. Thermax Ltd. Bharat Electronics Ltd. Industrial Products Astral Poly Technik Ltd. Finolex Cables Ltd. Aia Engineering Ltd. Timken India Ltd. Schaeffler Ltd. Grindwell Norton Ltd. Cummins India Ltd. Ador Welding Ltd. Petroleum Products Indian Oil Corporation Ltd. Hindustan Petroleum Corporation Ltd. Power Power Grid Corporation Of India Ltd. Torrent Power Ltd. Kalpataru Power Transmission Ltd. Transportation Container Corporation Of India Ltd. Interglobe Aviation Ltd. Other Equities^ Repo Net Current Liabilities 900000 102600 100000 693000 270000 275000 103400 182500 21000 200000 100000 180000 648000 360000 1233000 315000 182500 78500 73706 ^ Exposure less than 1% has been clubbed under Other Equities 1607.40 1259.57 1117.95 791.06 2776.95 1879.49 1603.01 1317.38 1118.22 995.90 700.55 645.30 1127.84 1124.28 2576.35 824.36 817.97 1081.57 897.08 374.18 1686.31 62864.21-138.24 62725.97 % of Assets Industry Allocation Industrial Products 17.60% Construction Project 16.34% Cement 11.23% Banks 10.88% Construction 9.87% Power 6.73% Ferrous Metals 5.32% Industrial Capital Goods 5.05% Petroleum Products 3.59% Transportation 3.15% Gas 2.56% Chemicals 1.86% Consumer Non Durables 1.69% Finance 1.67% 0.00% 5.00% 10.00% 15.00% 20.00% 2.56 2.01 1.78 1.26 4.43 3.00 2.56 2.10 1.78 1.59 1.12 1.03 1.80 1.79 4.11 1.31 1.30 1.72 1.43 0.60 2.69 100.22-0.22 Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 42.48% 24.70% 32.82% V Movement 150 Tata Infrastructure Fund - Reg - Growth S&P BSE India Infrastructure TRI 134 118 102 86 70 May-15 May-16 May-17 May-18 19

Tata Hybrid Equity Fund (Erstwhile known as Tata Balanced Fund; renamed w.e.f May 3, 2018) (An open ended hybrid scheme investing predominantly in equity & equity related instruments.) Invests 65% to 80% investment in Equity & equity related instruments & 20% to 35% in debt & money market instruments. For taxation purpose, it is treated as an equity scheme. (Monthly Income is not assured and is subject to availability of distributable surplus.) The investment objective of the Scheme is to provide income distribution and or capital appreciation over medium to long term. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns. October 8, 1995 FUND MAGER Pradeep Gokhale (Managing Since 1-Apr-16 and overall experience of 26 years) (Equity) & Murthy Nagarajan (Managing since 1-Apr-17 and overall experience of 21 years) (Debt) Crisil Hybrid 25+75 - Aggressive Index V - Growth 215.0902 - Dividend 77.7947 - Monthly Dividend 68.4724 Reg - Growth 206.3283 Reg - Dividend 73.8574 Reg - Monthly Dividend 65.0711 5348.82 ( in Cr.) 5398.18 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 377.55% 33.15% VOLATILITY MEASURES^ FUND Sharpe Ratio 10.73 0.02 0.99 0.94 0.07-0.45 0.75 2.17 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 10.40 0.18 0.53 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 Portfolio Macauley Duration 2.7s Average Maturity 3.4s Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 1% if redeemed on or before expiry of 365 days from the date of allotment (w.e.f. 6th April, 2015) 7.80% 7.99% Company Name Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Tata Motors Ltd. Mahindra & Mahindra Ltd. Auto Ancillaries Exide Industries Ltd. Apollo Tyres Ltd. Banks HDFC Bank Ltd. ICICI Bank Ltd. Kotak Mahindra Bank Ltd. Yes Bank Ltd. State Bank Of India Indusind Bank Ltd. Cement Ultratech Cement Ltd. Construction Project Larsen & Toubro Ltd. Sadbhav Engineering Ltd. Consumer Non Durables ITC Ltd. Hindustan Unilever Ltd. Asian Paints (India) Ltd. United Spirits Ltd. Finance Housing Development Finance Ltd. Gas Gail ( India ) Ltd. Hotels, Resorts and Other Recreational Activities Indian Hotels Co. Ltd. Industrial Products Bharat Forge Ltd. Media & Entertainment Zee Entertainment Enterprises Ltd. Sun Tv Network Ltd. Petroleum Products Reliance Industries Ltd. Bharat Petroleum Corporation Ltd. Pharmaceuticals Sun Pharmaceutical Industries Ltd. Power Power Grid Corporation Of India Ltd. Software Infosys Ltd. HCL Technologies Ltd. Other Equities^ Market Capitalisation wise Exposure (Equity component only) Large Cap 81.43% Mid Cap 11.42% Small Cap 7.16% Market Capitalisation is as per list provided by AMFI. Lakhs 404312.22 8534.95 8487.00 8311.50 6944.30 5383.00 42723.00 14280.00 13837.95 13501.80 6730.00 5844.00 5602.05 19146.40 7341.05 16397.85 10327.36 5875.20 5522.47 9465.23 5604.00 6082.35 5854.95 8919.20 5824.86 21189.90 6665.18 6482.03 9193.80 11087.10 9106.00 94047.74 % of Assets 75.59 1.60 1.59 1.55 1.30 1.01 7.99 2.67 2.59 2.52 1.26 1.09 1.05 3.58 1.37 3.07 1.93 1.10 1.03 1.77 1.05 1.14 1.09 1.67 1.09 3.96 1.25 1.21 1.72 2.07 1.70 17.58 Name of the Instrument Ratings Lakhs Repo Cash / Net Current Asset 12610.39 531567.18 3315.31 534882.49 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Crisil Hybrid 25+75 - Aggressive Index B Crisil Hybrid 25+75 - Aggressive Index Total Value of AB S&P BSE Sensex TRI AB S&P BSE Sensex TRI (Inception date 08-Oct-1995) (First Installment date 01-Feb-1996) Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. Reliance Industries Ltd. Larsen & Toubro Ltd. ITC Ltd. ICICI Bank Ltd. Kotak Mahindra Bank Yes Bank Ltd. Infosys Ltd. Hindustan Unilever Ltd. HDFC Ltd. Total No. of Shares 100000 3000000 900000 2675000 2000000 2000000 5000000 1035000 3900000 2500000 300000 150000 1400000 2130000 6037500 640000 450000 165000 517650 1600000 4300000 900000 1600000 635000 2300000 1650000 1350000 4400000 900000 1000000 120,000 121,181 1.84% 124,452 6.98% 129,137 14.49% % to V 7.99 3.96 3.58 3.07 2.67 2.59 2.52 2.07 1.93 1.77 32.15 360,000 404,430 7.72% 436,114 12.88% 451,137 15.24% Debt Instruments Government Securities GOI - 7.17% (08/01/2028) GOI - 7.72% (25/05/2025) GOI - 6.84% (19/12/2022) GOI - 7.35% (22/06/2024) GOI - 8.13% (21/09/2022) GOI - 7.80% (03/05/2020) SDL Punjab 7.07% (28/12/2020) GOI - 8.24% (15/02/2027) GOI - 7.59% (11/01/2026) SDL Andhra Pradesh 7.51% (13/09/2037) GOI - 6.79% (15/05/2027) GOI - 7.73% (19/12/2034) GOI - 8.30% (02/07/2040) GOI - 6.57% (05/12/2033) GOI - 7.68% (15/12/2023) SDL Tamilnadu 8.14% (27/05/2025) GOI - 6.79% (26/12/2029) Non-Convertible Debentures/Bonds 08.50 % HDFC Ltd. 08.78 % Indiabulls Housing Finance Ltd. 07.80 % Kotak Mahindra Investments Ltd. 07.85 % Power Finance Corporation 08.55 % Talwandi Sabo Power Ltd. 07.85 % HDFC Ltd. 07.95 % HDFC Ltd. 06.99 % Rural Electrification Corp. Ltd. 08.32 % Reliance Jio Infocomm Ltd. 07.95 % Sikka Ports And Terminals Ltd. 07.68 % Housing & Urban Development Corporation Ltd. 09.36 % Power Finance Corporation 08.70 % Power Finance Corporation 07.98 % Andhra Bank 09.45 % State Bank Of India 09.40 % Blue Dart Express Ltd. 09.50 % Blue Dart Express Ltd. Privately Placed/Unlisted 08.00 % Ongc Petro-Additions Ltd. 08.15 % Vodafone Mobile Services Ltd. Money Market Instruments BARD - CP Axis Bank Ltd. - CD Kotak Mahindra Bank - CD HDFC Ltd. - CP ^ Exposure less than 1% has been clubbed under Other Equities 600,000 811,992 12.06% 833,548 13.12% 835,312 13.21% Industry Allocation V Movement 840,000 1,381,955 13.98% 1,346,791 13.26% 1,354,985 13.43% CRISIL- AA(SO) ICRA- AAA IND AA ICRA- AA ICRA- AA ICRA- AAA(SO) CRISIL- AA- 1,200,000 2,578,159 14.63% 2,308,228 12.56% 2,336,390 12.79% 45784.60 10997.64 8860.50 6737.50 6435.43 5047.61 3012.00 2435.83 504.25 486.64 276.30 261.70 243.00 208.67 127.15 74.78 48.00 27.60 39606.49 5967.08 4994.79 4987.67 4795.89 4437.82 3971.31 2479.28 2415.52 1483.03 1417.73 1075.06 509.40 501.41 473.65 77.49 11.06 8.30 9801.81 7332.35 2469.46 19451.67 9875.81 4720.48 2493.92 2361.46 % to V 8.56 2.06 1.66 1.26 1.20 0.94 0.56 0.46 0.09 0.09 0.05 0.05 0.05 0.04 0.02 0.01 0.01 0.01 7.40 1.12 0.93 0.93 0.90 0.83 0.74 0.46 0.45 0.28 0.27 0.20 0.10 0.09 0.09 0.01 0.00 0.00 1.83 1.37 0.46 3.64 1.85 0.88 0.47 0.44 2.36 99.38 0.62 2,680,000 25,385,276 17.14% 14,003,157 12.93% 15,640,769 13.72% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark Source MFI Explorer Banks Consumer Non Durables Construction Project Petroleum Products Software Auto Auto Ancillaries Finance Cement Media & Entertainment Industrial Products Pharmaceuticals Power Hotels, Resorts And Other Recreational Activities Gas Consumer Durables Industrial Capital Goods Non - Ferrous Metals Minerals/mining Retailing Ferrous Metals 140 128 116 104 92 80 7.13% 6.34% 6.03% 5.70% 5.11% 4.22% 3.81% 3.17% 2.76% 2.56% 2.19% 1.72% 1.14% 1.05% 0.79% 0.78% 0.75% 0.55% 0.22% 0.21% 19.39% 0.00% 5.00% 10.00% 15.00% 20.00% Tata Hybrid Equity Fund - Reg - Growth CRISIL Hybrid 25+75 Aggressive Index May-15 May-16 May-17 May-18 V 20

Tata Equity Savings Fund (Erstwhile known as Tata Savings Equity Fund; renamed w.e.f May 3, 2018) (An open-ended scheme investing in equity, arbitrage and debt) Predominantly investing in equity and equity related instruments, equity arbitrage opportunities and debt and money market instruments. The investment objective of the scheme is to provide long term capital appreciation and income distribution to the investors by predominantly investing in equity and equity related instruments, equity arbitrage opportunities and investments in debt and money market instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns. April 27, 2000 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years)(for equity portfolio) & Murthy Nagarajan (Managing since 1-Apr-17 and overall experience of 2s) (for Debt Portfolio) Nifty 50 TRI (35%),Nifty 50 Arbitrage Index (30%), Crisil Short Term Bond Fund Index (35%) V Monthly Dividend Growth Periodic Dividend - Growth - Monthly Dividend - Periodic Dividend 14.0443 31.3360 15.0257 33.0347 15.1509 16.0707 206.55 ( in Cr.) 208.71 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) VOLATILITY MEASURES^ FUND Sharpe Ratio Portfolio Macauley Duration Average Maturity MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 4.48-0.08 0.76 0.65-0.13-0.35 4.59 0.25 0.32 Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets 8.02% ii. Excluding Net Current Assets 8.41% ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer Pg 48 Total stock in Portfolio 32 Growth Option Rs 5,000/- and in multiple of Re.1/- thereafter Dividend Option Rs 5,000/- and in multiple of Re.1/- thereafter 0.25% of the applicable V, if redeemed on or before expiry of 90 days from the date of allotment. (w.e.f. Oct 1, 2016) 838.47% 91.95% 0.81 1.81 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 0.8s 1.06 Years Equity & Equity Related Total Unhedge Positions Auto Maruti Suzuki India Ltd. Ashok Leyland Ltd. Bajaj Auto Ltd. Auto Ancillaries Ceat Ltd. Banks HDFC Bank Ltd. Yes Bank Ltd. Kotak Mahindra Bank Ltd. Cement Grasim Industries Ltd. Construction Project Larsen & Toubro Ltd. Voltas Ltd. Consumer Durables Bata India Ltd. Havells India Ltd. Greenply Industries Ltd. Consumer Non Durables Hindustan Unilever Ltd. Nestle India Ltd. Radico Khaitan Ltd. Jubilant Foodworks Ltd. Glaxo Smithkline Con Healthcar Ltd. Finance Max Financial Services Ltd. Housing Development Finance Ltd. Muthoot Finance Ltd. Industrial Capital Goods Bharat Electronics Ltd. Industrial Products Finolex Cables Ltd. Media & Entertainment Sun Tv Network Ltd. Zee Entertainment Enterprises Ltd. Petroleum Products Reliance Industries Ltd. Hindustan Petroleum Corporation Ltd. Power Power Grid Corporation Of India Ltd. Retailing Future Consumer Ltd. Future Retail Ltd. Software Majesco Ltd. Textile Products Raymond Ltd. Hedge Positions Dewan Housing Finance Corporation Ltd. Dewan Housing Finance Corporation Ltd. - Future Tv18 Broadcast Ltd. Tv18 Broadcast Ltd. - Future SIP - If you had invested INR 10000 every month Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Nifty 50 TRI (35%),Nifty 50 Arbitrage Index (30%), Crisil Short Term Bond Fund Index (35%) B Nifty 50 TRI (35%),Nifty 50 Arbitrage Index (30%), Crisil Short Term Bond Fund Index (35%) Total Value of AB S&P BSE Sensex TRI AB S&P BSE Sensex TRI (Inception date 27-Apr-2000) (First Installment date 01-May-2000) Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. Hindustan Unilever Ltd. Future Consumer Ltd. Bata India Ltd. Maruti Suzuki India Ltd. Yes Bank Ltd. Ashok Leyland Ltd. Max Financial Services Ltd. Bajaj Auto Ltd. Nestle India Ltd. Total % to V 40.79 8.96 4.87 % to V 65.89 25.10 1.02 1.01 0.99 0.40 1.83 1.02 0.65 0.50 0.75 0.50 1.26 0.74 0.50 1.72 0.94 0.80 0.69 0.57 0.75 0.47 0.47 0.50 0.54 0.31 0.87 0.53 0.84 1.70 0.57 0.44 0.24 % to V Derivative -41.01-9.01-4.92 7 Year 10 Year 120,000 121,634 2.55% 127,068 11.16% 129,137 14.49% % to V 1.83 1.72 1.70 1.26 1.02 1.02 1.01 0.99 0.94 12.49 % to V % to V Derivative Cesc Ltd. Cesc Ltd. - Future Tata Global Beverages Ltd. Tata Global Beverages Ltd. - Future Sun Tv Network Ltd. Sun Tv Network Ltd. - Future Granules India Ltd. Granules India Ltd. - Future IDFC Ltd. IDFC Ltd. - Future Jindal Steel & Power Ltd. Jindal Steel & Power Ltd. - Future BEML Ltd. BEML Ltd. - Future Sun Pharmaceutical Industries Ltd. Sun Pharmaceutical Industries Ltd. - Future DLF Ltd. DLF Ltd. - Future Bharat Financial Inclusion Ltd. Bharat Financial Inclusion Ltd. - Future Jain Irrigation Systems Ltd. Jain Irrigation Systems Ltd. - Future Bharat Electronics Ltd. Bharat Electronics Ltd. - Future NBCC India Ltd. NBCC India Ltd. - Future Federal Bank Ltd. Federal Bank Ltd. - Future 3.36 3.24 2.98 2.86 2.69 2.50 1.86 1.79 1.62 1.53 1.31 0.85 0.21 0.16-3.39-3.21-3.00-2.86-2.71-2.51-1.88-1.80-1.63-1.54-1.32-0.86-0.21-0.16 Name of the Instrument Ratings % to V Non-Convertible Debentures/Bonds 17.40 09.75 % Reliance Utilities And Power Private Ltd. 2.50 08.45 % Sikka Ports And Terminals Ltd. 2.38 07.90 % India Infradebt Ltd. 2.34 07.17 % National Highways Authority Of India 2.32 07.42 % LIC Housing Finance Ltd. 2.31 07.49 % Indian Railways Finance Corporation Ltd. 2.26 08.49 % NHPC Ltd. 1.94 08.32 % Reliance Jio Infocomm Ltd. 0.72 09.04 % Rural Electrification Corp. Ltd. 0.24 08.40 % Power Finance Corporation 0.24 09.70 % Exim 0.15 Margin Deposits 12.60 Cash (Placed As Margin Money ) 10.42 HDFC BANK LTD 2.18 Repo Cash / Net Current Asset 360,000 391,038 5.45% 422,099 10.63% 451,137 15.24% 600,000 697,844 5.99% 772,322 10.05% 835,074 13.20% 840,000 1,055,837 6.44% 1,202,544 10.09% 1,354,302 13.42% 1,200,000 1,664,369 6.37% 1,673,310 6.47% 2,331,783 12.75% Industry Allocation Consumer Non Durables 4.72% Banks 3.49% Auto 3.01% Consumer Durables 2.50% Retailing 2.27% Finance 2.22% Petroleum Products 1.40% Construction Project 1.25% Media & Entertainment 0.85% Power 0.84% Cement 0.50% Industrial Products 0.50% Industrial Capital Goods 0.47% Software 0.44% Auto Ancillaries 0.40% Textile Products 0.24% 0.00% % 2.00% 3.00% 4.00% 5.00% 5.58 101.49-1.49 2,170,000 4,093,128 6.59% 3,191,689 Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark Source MFI Explorer 4.09% 9,885,625 14.94% Market Capitalisation wise Exposure (Equity component only) Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 61.08% 29.54% 9.37% V Movement Tata Equity Savings Fund - Reg - Mthly Dividend Nifty 50 TRI (35%),Nifty 50 Arbitrage Index (30%), Crisil Short Term Bond Fund Index (35%) 130 122 114 106 98 90 Jul-15 Jul-16 Jun-17 May-18 21

Tata Dynamic Bond Fund (An open ended dynamic debt scheme investing across duration) [ICRA]AAAmfs rating by ICRA$ Aims to create a liquid portfolio of good quality debt as well as Money Market Instruments so as to provide reasonable returns and liquidity. To provide reasonable returns and high level of liquidity by investing in debt instruments including bonds, debentures and Government securities; and money market instruments such as treasury bills, commercial papers, certificates of deposit, including repos in permitted securities of different maturities, as permitted by regulation so as to spread the risk across different kinds of issuers in the debt markets. September 03,2003 FUND MAGER Akhil Mittal (Managing Since 26-Jun-14 and overall experience of 1s) CRISIL Composite Bond Fund Index V - Growth - Dividend Reg - Growth Reg - Dividend 27.7107 16.4447 26.2460 15.1331 665.51 ( in Cr.) 687.36 ( in Cr.) 0.60 1.73 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND 3.77 1.06 0.87 0.03-0.17 Portfolio Macauley Duration Average Maturity 4.18 Years 5.82 Years Gross Yield to Maturity (For Debt Component) MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. 3.54 0.19 i. Including Net Current Assets ii. Excluding Net Current Assets 7.65% 7.83% ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer Pg 48 ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 0.50% of V if redeemed on or before expiry of 30 days from the date of allotment (w.e.f 15th November, 2017). Name of the Instrument Debt Instruments Government Securities GOI - 7.59% (11/01/2026) GOI - 7.17% (08/01/2028) GOI - 6.68% (17/09/2031) GOI - 7.88% (19/03/2030) GOI - 7.72% (26/10/2055) GOI 7.35% (22/06/2024) GOI - 7.37% (16/04/2023) Non-convertible Debentures/bonds 07.70 % Housing & Urban Development Corporation Ltd. 07.60 % Reliance Utilities And Power Private Ltd. 07.35 % Power Finance Corporation 07.85 % Small Indust Devlop Bank Of India 07.10 % Power Finance Corporation 08.90 % Reliance Jio Infocomm Ltd. Privately Placed/unlisted Ratings ICRA- AAA 08.00 % Ongc Petro-additions Ltd. ICRA- AAA(SO) Lakhs 32851.74 14112.49 9562.00 8921.21 98.61 97.74 48.54 11.15 18482.14 4934.42 3837.61 2854.19 2483.40 2364.57 2007.95 2444.12 2444.12 % to V 49.36 21.21 14.37 13.41 0.15 0.15 0.07 0.02 27.77 7.41 5.77 4.29 3.73 3.55 3.02 3.67 3.67 Name of the Instrument CBLO Repo Cash / Net Current Asset Ratings Lakhs 10198.36 1579.99 65556.35 994.63 66550.98 % to V 15.32 2.37 98.50 1.50 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns 1,19,972-0.04% 3,87,726 4.89% 7,12,337 6.81% 8,40,000 11,05,836 7.74% 12,00,000 17,80,740 7.66% 17,60,000 30,79,702 7.25% Total Value of B CRISIL Composite Bond Fund Index 1,20,114 3,91,399 7,24,446 11,11,143 17,94,142 30,98,401 B CRISIL Composite Bond Fund Index Total Value of AB CRISIL 10 Yr Gilt Index AB CRISIL 10 Yr Gilt Index 0.18% 1,17,274-4.21% 5.52% 3,75,508 2.76% 7.48% 6,88,289 5.44% 7.87% 10,38,623 5.98% 7.81% 16,27,689 5.94% 7.32% 27,74,422 5.94% (Inception date 03-Sep-2003) (First Installment date 01-Oct-2003) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 19.20% 49.36% Maturity Ladder 31.44% A1+ / AAA Cash & Cash Equivalents Instrument Wise Composition 19.20% 49.36% V Movement 31.44% NCD - Non Convertible Deb Government Securities Cash & Cash Equivalents Cash & Others 1.49% Abv 10 Yrs 13.70% 7-10 Yrs 35.57% 3-7 Yrs 13.70% 1-3 Yrs 17.84% 0-1 Yrs 17.70% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 130 122 114 106 98 Tata Dynamic Bond Fund - Reg - Growth CRISIL Composite Bond Fund Index 90 May-15 May-16 May-17 May-18 22

Tata Medium Term Fund (Erstwhile known as Tata Income Plus Fund; renamed w.e.f March 17, 2017) (An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between s and 4 years.) The aim of the Fund Manager is to identify and allocate the assets of the scheme between various fixed income securities with the objective of generate reasonable returns at moderate risk. The security will be identified based on various parameters such as issuer's credit rating history, financial track record of the issuer, corporate governance track record of the issuer, liquidity of the security, maturity of the security, interest rate scenario etc. Depending upon prevailing market conditions & interest rate scenario, the portfolio duration and average maturity can be increased or decreased within the range of three to seven years. In case of a rising interest rate environment the duration/average maturity of the fund may be reduced whereas in a falling interest rate scenario the holding in medium/long securities may be maximized. The investment objective of the scheme is to generate income and capital appreciation over a medium term. However, there can be no assurance that the investment objective of the scheme will be realized. November 11,2002 FUND MAGER Murthy Nagarajan (Managing Since 1-Apr-17 and overall experience of 2s) Crisil Medium Term Debt Index V - Growth - Bonus Reg - Growth Reg - Dividend 76.25 ( in Cr.) 76.48 ( in Cr.) VOLATILITY MEASURES^ FUND 3.30 1.47 0.82 0.04-0.21 2.24 0.18 Portfolio Macauley Duration 3.30 Years Average Maturity 4.22 Years Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets 28.2802 13.8211 26.7608 13.0803 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer Pg 48 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 1% of V if redeemed on or before expiry of 365 days from the date of allotment. 0.95 1.85 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 7.73% 8.11% Name of the Instrument Ratings Lakhs Debt Instruments Government Securities GOI - 6.84% (19/12/2022) GOI - 7.17% (08/01/2028) Non-convertible Debentures/bonds 09.14 % Exim 09.25 % Reliance Jio Infocomm Ltd. 08.70 % Power Finance Corporation 08.35 % Petronet Lng Ltd. 08.45 % Sikka Ports And Terminals Ltd. 07.90 % India Infradebt Ltd. 07.98 % Andhra Bank IND AA 09.39 % Rural Electrification Corp. Ltd. 09.61 % Power Finance Corporation 09.57 % Indian Railways Finance Corporation Ltd. Privately Placed/unlisted 08.30 % Sbi Cards & Payment Services Pvt. Ltd. 2208.71 1443.75 764.96 4018.82 509.64 506.94 501.41 500.18 491.23 483.78 426.29 404.07 123.01 72.27 488.01 488.01 % to V 28.97 18.93 10.03 52.71 6.68 6.65 6.58 6.56 6.44 6.34 5.59 5.30 1.61 0.95 6.40 6.40 Name of the Instrument Repo Cash / Net Current Asset Ratings Lakhs 556.20 7271.74 353.24 7624.98 % to V 7.29 95.36 4.64 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B CRISIL Medium Term Debt Index B CRISIL Medium Term Debt Index Total Value of AB CRISIL 10 Yr Gilt Index AB CRISIL 10 Yr Gilt Index 1,21,120 1.75% 1,21,141 1.78% 1,17,274-4.21% 3,91,734 5.57% 3,96,292 6.35% 3,75,508 2.76% 7,13,683 6.88% 7,33,870 8.00% 6,88,289 5.44% 8,40,000 10,95,113 7.46% 11,38,570 8.55% 10,38,623 5.98% 12,00,000 17,60,988 7.45% 18,79,305 8.69% 16,27,689 5.94% 18,50,000 32,50,570 6.93% 36,76,510 8.38% 29,76,382 5.89% (Inception date 11-Nov-2002) (First Installment date 01-Jan-2003) Composition by Ratings Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer 28.97% 11.92% 5.59% 53.52% A1+ / AAA AA+ / AA Cash & Cash Equivalents Instrument Wise Composition 28.97% 11.92% 59.11% NCD - Non Convertible Deb Government Securities Cash & Cash Equivalents Maturity Ladder Cash & Others 4.63% Abv 10 Yrs 0.00% 7-10 Yrs 15.62% 3-7 Yrs 54.02% 1-3 Yrs 11.88% 0-1 Yrs 13.85% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% V Movement 130 122 114 106 98 Tata Medium Term Fund - Reg - Growth Crisil Medium Term Debt Index 90 May-15 May-16 May-17 May-18 23

Tata Income Fund (Erstwhile known as Tata Long Term Debt Fund; renamed w.e.f May 3, 2018) (An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 year and 7 years) [ICRA]AAAmfs rating by ICRA$ An income scheme with exposure to rated debt instruments with medium to long term maturity. The investment objective of the Scheme is to provide income distribution/capital appreciation over medium to long term. April 28, 1997 FUND MAGER Akhil Mittal (Managing Since 26-Jun-14 and overall experience of 1s) Crisil Medium to Long Term Debt Index V - Growth - Half Yearly Dividend Dir- Periodic Dividend Reg - Growth Reg - Half Yearly Dividend Reg- Dividend 54.1162 13.6427 30.9649 51.8114 12.9979 30.0538 110.29 ( in Cr.) 110.85 ( in Cr.) 0.38 2.01 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND 3.79 1.09 0.91 0.01-0.19 3.47 0.19 Portfolio Macauley Duration 4.4s Average Maturity 5.9s Gross Yield to Maturity (For Debt Component) 7.41% i. Including Net Current Assets 8.05% ii. Excluding Net Current Assets ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer Pg 48 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT Half Yearly Dividend Plan, Periodic Dividend Plan, rowth Plan, Bonus Plan 5,000/- and in multiples of Re. 1/- thereafter. Quarterly Dividend Plan 10,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 1% if redeemed before expiry of 365 days from the date of allotment(w.e.f. 1st July, 2014) Name of the Instrument Debt Instruments Government Securities GOI - 7.17% (08/01/2028) GOI - 7.16% (20/05/2023) GOI - 6.84% (19/12/2022) GOI - 7.88% (19/03/2030) GOI - 6.79% (26/12/2029) Non-convertible Debentures/bonds 08.45 % Sikka Ports And Terminals Ltd. 07.67 % Reliance Utilities And Power Private Ltd. Ratings 09.84 % Iot Utkal Energy Services (SO) Ltd. 08.01 % Rural Electrification Corp. Ltd. Privately Placed/unlisted 08.30 % Sbi Cards & Payment Services Pvt. Ltd. Lakhs 5146.98 4302.90 484.35 329.27 26.23 4.23 3048.20 982.46 952.51 626.14 487.09 976.02 976.02 % to V 46.67 39.01 4.39 2.99 0.24 0.04 27.64 8.91 8.64 5.68 4.42 8.85 8.85 Name of the Instrument Repo Cash / Net Current Asset Ratings Lakhs 979.50 10150.69 878.26 11028.95 % to V 8.88 92.04 7.96 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B CRISIL Medium to Long Term Debt Index B CRISIL Medium to Long Term Debt Index Total Value of AB CRISIL 10 Yr Gilt Index AB CRISIL 10 Yr Gilt Index 1,19,303-1.08% 1,20,227 0.35% 1,17,274-4.21% 3,84,815 4.39% 3,92,534 5.71% 3,75,508 2.76% 7,03,388 6.30% 7,28,052 7.68% 6,88,289 5.44% 8,40,000 10,83,787 7.17% 11,22,242 8.15% 10,38,623 5.98% 12,00,000 17,32,934 7.14% 18,36,567 8.25% 16,27,689 5.94% 25,00,000 55,44,183 7.06% 69,53,566 8.92% 49,35,517 6.08% (Inception date 28-Apr-1997) (First Installment date 01-Aug-1997) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 16.84% 36.49% A1+ / AAA Cash & Cash Equivalents Instrument Wise Composition 16.84% 36.49% NCD - Non Convertible Deb Government Securities Cash & Cash Equivalents 46.67% Maturity Ladder Cash & Others 7.96% Abv 10 Yrs 0.28% 7-10 Yrs 43.43% 3-7 Yrs 33.77% 1-3 Yrs 3.53% 0-1 Yrs 11.03% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 46.67% V Movement 130 122 114 106 98 Tata Income Fund - Reg - Growth Crisil Medium to Long Term Debt Index 90 May-15 May-16 May-17 May-18 24

Tata Short Term Bond Fund (An open ended short term debt scheme investing in instruments such that the Macaulay duration of portfolio is between and s.) [ICRA]AAAmfs rating by ICRA$ VOLATILITY MEASURES^ FUND A debt scheme that invests in short term debt instruments having high level of liquidity. The investment objective is to generate regular income/appreciation over a short term period. There can be no assurance that the investment objective of the Scheme will be realised. August 8, 2002 FUND MAGER Murthy Nagarajan (Managing Since 1-Apr-17 and overall experience of 2s) Crisil Short Term Bond Fund Index V - Growth - Monthly Dividend -Dividend Reg - Growth Reg - Monthly Dividend Reg -Dividend 6270.03 ( in Cr.) 6258.57 ( in Cr.) 1.40 0.99 0.92 0.07-0.08 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Nil (w.e.f. 7th July, 2017) 33.5688 15.7191 17.8007 32.2752 15.0853 17.1030 1.38 0.15 Portfolio Macauley Duration Average Maturity 1.74 Years 2.04 Years Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer Pg 48 0.23 1.10 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 8.13% 8.39% Name of the Instrument Debt Instruments Government Securities GOI - 6.84% (19/12/2022) SDL Gujarat 8.99% (14/03/2022) GOI - 7.17% (08/01/2028) GOI 7.35% (22/06/2024) SDL Punjab 7.07% (28/12/2020) GOI - 8.13% (21/09/2022) SDL Punjab 6.90% (11/01/2021) SDL Punjab 6.99% (13/10/2020) SDL Punjab 8.34% (06/10/2020) SDL Gujarat 7.21% (09/08/2027) GOI - 7.72% (25/05/2025) SDL Rajasthan Uday 8.15% (23/06/2021) SDL Kerala 8% (11/04/2028) GOI - 6.79% (26/12/2029) GOI - 6.68% (17/09/2031) GOI - 6.79% (15/05/2027) SDL Maharashtra 7.33% (13/09/2027) GOI - 7.68% (15/12/2023). GOI - 8.27% (09/06/2020) Non-convertible Debentures/bonds 07.85 % Nabard 06.99 % Rural Electrification Corp. Ltd. 09.04 % Rural Electrification Corp. Ltd. 08.10 % Reliance Jio Infocomm Ltd. 08.35 % Nabha Power Ltd. 07.85 % Small Indust Devlop Bank Of India 07.50 % Bajaj Finance Ltd. 07.40 % Gruh Finance Ltd. 08.90 % Reliance Jio Infocomm Ltd. 08.36 % Power Finance Corporation 07.85 % HDFC Ltd. 07.65 % Kotak Mahindra Investments Ltd. 07.00 % HDFC Ltd. 07.43 % Hdb Financial Services Ltd. 08.00 % Reliance Jio Infocomm Ltd. 09.25 % Reliance Jio Infocomm Ltd. 09.15 % Exim 07.75 % India Infradebt Ltd. 08.52 % Power Finance Corporation 07.80 % Kotak Mahindra Investments Ltd. 08.38 % HDFC Ltd. 08.35 % LIC Housing Finance Ltd. 07.59 % LIC Housing Finance Ltd. 08.12 % Nabha Power Ltd. 07.59 % Kotak Mahindra Investments Ltd. 08.45 % Sikka Ports And Terminals Ltd. 07.38 % Kotak Mahindra Prime Ltd. 07.42 % Rural Electrification Corp. Ltd. 07.42 % Power Finance Corporation 07.62 % Bajaj Finance Ltd. 07.35 % Power Finance Corporation 09.02 % Rural Electrification Corp. Ltd. 07.20 % Indian Railways Finance Corporation Ltd. 08.39 % HDFC Ltd. Ratings ICRA- AAA(SO) ICRA- AAA(SO) Lakhs 72332.24 11142.67 9594.45 9287.76 9222.60 8768.97 7571.42 5813.09 4056.24 2505.48 1521.53 984.50 478.30 445.46 242.79 201.81 190.74 175.90 67.74 60.79 346637.27 21918.58 21256.53 17629.75 17438.72 14997.86 14900.39 14139.60 12183.26 11545.74 11460.80 10921.10 10000.22 9808.14 9717.08 9678.55 9631.94 6628.73 5010.91 5000.26 4987.67 4986.08 4977.48 4945.00 4931.47 4920.73 4912.30 4911.65 4907.26 4899.08 4894.84 4756.99 4528.56 3915.92 3498.21 % to V 11.54 1.78 1.53 1.48 1.47 1.40 1.21 0.93 0.65 0.40 0.24 0.16 0.08 0.07 0.04 0.03 0.03 0.03 0.01 0.01 55.28 3.50 3.39 2.81 2.78 2.39 2.38 2.26 1.94 1.84 1.83 1.74 1.59 1.56 1.55 1.54 1.54 1.06 0.80 0.80 0.80 0.80 0.79 0.79 0.79 0.78 0.78 0.78 0.78 0.78 0.78 0.76 0.72 0.62 0.56 Name of the Instrument Ratings Lakhs CBLO Repo Cash / Net Current Asset 4999.20 920.43 607627.26 19375.61 627002.87 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Crisil Short Term Bond Fund Index B Crisil Short Term Bond Fund Index Total Value of AB CRISIL 1 Yr T-Bill Index AB CRISIL 1 Yr T-Bill Index (Inception date 08-Aug-2002) (First Installment date 01-Sep-2002) 1,22,142 3.35% 1,22,425 3.79% 1,23,637 5.70% 3,93,840 5.93% 3,96,706 6.42% 3,95,589 6.23% 7,17,680 7.11% 7,25,281 7.53% 7,12,998 6.84% 8,40,000 11,05,722 7.73% 11,15,216 7.97% 10,77,214 7.00% 12,00,000 18,01,120 7.88% 18,10,137 7.97% 16,99,316 6.77% 18,90,000 36,60,291 7.90% 35,72,843 7.62% 31,93,948 6.33% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48 *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 4.03% 11.54% A1+ / AAA Cash & Cash Equivalents 07.50 % Power Finance Corporation 08.38 % LIC Housing Finance Ltd. 08.37 % India Infradebt Ltd. 09.50 % IDFC Bank Ltd. 07.70 % Rural Electrification Corp. Ltd. 08.00 % Kotak Mahindra Prime Ltd. 07.51 % LIC Housing Finance Ltd. 08.10 % Orix Leasing & Financial Services India Ltd. 07.96 % LIC Housing Finance Ltd. 07.95 % Hdb Financial Services Ltd. 07.10 % Power Finance Corporation 09.35 % LIC Housing Finance Ltd. 08.45 % HDFC Ltd. 08.36 % Rural Electrification Corp. Ltd. 07.85 % Power Finance Corporation 09.84 % Iot Utkal Energy Services Ltd. 08.32 % Reliance Jio Infocomm Ltd. 07.65 % Indian Railways Finance Corporation Ltd. 09.14 % Exim 08.40 % Power Finance Corporation 08.18 % LIC Housing Finance Ltd. 08.00 % Exim 07.90 % India Infradebt Ltd. 08.28 % Power Finance Corporation Privately Placed/unlisted 07.44 % Daimler Financial Services India Private Ltd. 08.00 % Ongc Petro-additions Ltd. 08.30 % Sbi Cards & Payment Services Pvt. Ltd. 08.35 % Daimler Financial Services India Private Ltd. 08.05 % Daimler Financial Services India Private Ltd. 08.10 % Sbi Cards & Payment Services Pvt. Ltd. 08.22 % Daimler Financial Services India Private Ltd. 07.54 % Gruh Finance Ltd. Money Market Instruments HDFC Ltd. - CP Axis Bank Ltd. - CD Il&fs Ltd. - CP Axis Bank Ltd. - CD Axis Bank Ltd. - CD Small Indust Devlop Bank Of India - CD BARD - CP Yes Bank Ltd. - CD EXIM - CP Il&fs Ltd. - CP HDFC Ltd. - CP HDFC Bank Ltd. - CD Indusind Bank Ltd. - CD Yes Bank Ltd. - CD Indusind Bank Ltd. - CD Instrument Wise Composition 10.23% 8.69% 6.22% ICRA- AAA IND AAA (SO) ICRA- AAA(SO) CARE- A1+ 3426.63 2998.84 2556.88 2517.91 2497.46 2496.83 2487.26 2477.77 2476.29 2475.69 2024.07 2014.66 1997.27 1994.86 1985.50 1878.43 988.69 755.05 509.64 500.40 500.25 148.09 77.40 10.00 64085.61 17205.97 13882.57 10736.23 7494.17 4979.04 4813.51 2487.56 2486.56 118652.52 21189.40 19194.76 13878.92 9503.92 7069.26 6938.33 4937.91 4893.03 4887.69 4864.73 4722.92 4711.75 4709.03 4704.08 2446.79 5.32% 4.03% NCD - Non Convertible Deb 65.51% Government Securities Commercial Papers Certificate Of Deposit State Development Loans % to V 0.55 0.48 0.41 0.40 0.40 0.40 0.40 0.40 0.39 0.39 0.32 0.32 0.32 0.32 0.32 0.30 0.16 0.12 0.08 0.08 0.08 0.02 0.01 0.00 10.22 2.74 2.21 1.71 1.20 0.79 0.77 0.40 0.40 18.92 3.38 3.06 2.21 1.52 1.13 1.11 0.79 0.78 0.78 0.78 0.75 0.75 0.75 0.75 0.39 0.80 0.15 96.92 3.08 Maturity Ladder Cash & Others Abv 10 Yrs 7-10 Yrs 3-7 Yrs 1-3 Yrs 0-1 Yrs 3.09% 0.07% 2.17% 84.43% 16.17% 41.89% 36.61% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% V Movement 130 124 118 112 106 100 Cash & Cash Equivalents Tata Short Term Bond Fund - Reg - Growth Crisil Short Term Bond Fund Index May-15 May-16 May-17 May-18 25

Tata Corporate Bond Fund (An open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds) (Erstwhile known as Tata Treasury Manager Fund; renamed w.e.f March 17, 2017) The Scheme endeavors to generate returns and capital appreciation by predominantly investing in corporate debt securities of varying maturities across the credit spectrum. The Scheme will seek opportunities across the credit curve and will endeavor to take benefit from superior yield available from time to time. The investment objective of the scheme is to generate returns over short to medium term by investing predominantly in corporate debt instruments. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved. The scheme doesn't assure or guarantee any returns. July 13,2007 FUND MAGER Amit Somani (Managing Since 21-May-14 and overall experience of 16 years) Crisil Corporate Bond Composite Index V - Growth - Monthly Dividend - Weekly Dividend - Daily Dividend Reg - Growth Reg - Monthly Dividend Reg - Weekly Dividend Reg - Daily Dividend 583.31 ( in Cr.) 592.95 ( in Cr.) VOLATILITY MEASURES^ FUND 0.73 0.19 0.63 0.41 0.04 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer Pg 48 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Nil 2373.1460 1001.1592 1011.9807 1008.1714 2290.6771 1001.1419 1011.0357 1008.1143 0.29 0.93 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. Portfolio Macauley Duration Average Maturity 2.78 0.20 0.97 Years 1.02 Years Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets 8.08% ii. Excluding Net Current Assets 8.31% Name of the Instrument Ratings % to Name of the Instrument Ratings Lakhs V Debt Instruments Non-convertible Debentures/bonds 07.85 % Power Finance Corporation 07.85 % Small Indust Devlop Bank Of India 07.73 % Mahindra Rural Housing Finance Ltd. 08.29 % Nabard 07.85 % Indiabulls Housing Finance Ltd. 08.54 % J.m. Financial Products Ltd. 08.54 % Il & Fs Financial Ser Ltd. 07.84 % Trent Ltd. 07.70 % Housing & Urban Development Corporation Ltd. 07.59 % Rural Electrification Corp. Ltd. 08.25 % Vizag General Cargo Berth Pvt. Ltd. 09.15 % Tata Capital Financial Services Ltd. 07.85 % Nabard 08.32 % Nabha Power Ltd. 08.10 % Reliance Jio Infocomm Ltd. 07.50 % Power Finance Corporation Repo Cash / Net Current Asset Lakhs 500.08 56712.07 1618.69 58330.76 % to V 7.58 4.19 1.71 0.86 97.23 2.77 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B CRISIL Corporate Bond Composite Index B CRISIL Corporate Bond Composite Index Total Value of AB CRISIL 1 Yr T-Bill Index AB CRISIL 1 Yr T-Bill Index 1,23,282 5.14% 1,21,338 2.09% 1,23,637 5.70% (Inception date 13-Jul-2007) (First Installment date 01-Aug-2007) Composition by Ratings CRISIL- AA+ CRISIL- AA CARE- AAA CARE- AA+ ICRA- AAA CRISIL- AA(SO) CRISIL- AA+ ICRA- AAA(SO) 39679.35 4974.08 4966.80 4935.64 2500.85 2499.92 2486.58 2475.08 2467.52 2467.21 2465.12 2457.03 1501.35 1494.45 1000.02 498.18 489.52 68.02 8.53 8.51 8.46 4.29 4.29 4.26 4.24 4.23 4.23 4.23 4.21 2.57 2.56 1.71 0.85 0.84 3,96,956 6.46% 3,98,128 6.66% 3,95,589 6.23% Privately Placed/unlisted 08.00 % Ongc Petro-additions Ltd. 08.05 % Daimler Financial Services India Private Ltd. 08.10 % Sbi Cards & Payment Services Pvt. Ltd. Money Market Instruments National Housing Bank - CP Reliance Industries Ltd. - CP Dewan Housing Fin Corporation Ltd. - CP Yes Bank Ltd. - CD HDFC Ltd. - CP 7,19,147 7.19% 7,37,232 8.18% 7,13,004 6.84% Instrument Wise Composition 8,40,000 11,01,181 7.62% 11,43,091 8.66% 10,77,234 7.00% ICRA- AAA(SO) 12,00,000 17,91,812 7.78% 18,99,994 8.90% 16,99,339 6.77% 4421.89 2444.12 995.81 981.96 12110.75 2497.39 2450.53 2435.64 2372.81 2354.38 1.68 20.76 4.28 4.20 4.18 4.07 4.04 13,00,000 20,13,051 7.80% 21,54,404 8.98% 18,90,723 6.70% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer 19.53% 4.21% 3.64% A1+ / AAA 72.62% AA+ / AA Db Cash & Cash Equivalents 16.69% 4.07% 3.63% NCD - Non Convertible Deb 75.61% Commercial Papers Certificate Of Deposit Cash & Cash Equivalents Maturity Ladder Cash & Others Abv 5 Yrs 3-5 Yrs 2-3 Yrs 1-2 Yrs 6-12 Mths 3-6 Mths 1-3 Mths 0-1 Mths 2.78% 1.68% 0.00% 17.76% 29.68% 26.02% 8.38% 4.29% 9.43% 0.00% 7.00% 14.00% 2% 28.00% 35.00% V Movement 130 124 118 112 106 Tata Corporate Bond Fund - Reg - Growth Crisil Corporate Bond Composite Index 100 May-15 May-16 May-17 May-18 26

Tata Treasury Advantage Fund (Erstwhile known as Tata Ultra Short Term Fund; renamed w.e.f May 3, 2018) (An open ended low duration debt scheme investing in instruments such that the Macaulay duration of portfolio is between 6 months and 12 months.) [ICRA]AAAmfs rating by ICRA$ The Scheme will invest in various money market and fixed income securities with objective of providing liquidity and generating reasonable returns with lower interest rate risk. The average maturity of the portfolio shall be between three months to one year The investment objective of the scheme is to generate regular income & capital appreciation by investing in a portfolio of debt & money market instruments with relatively lower interest rate risk. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. September 06,2005 FUND MAGER Akhil Mittal (Managing Since 26-Jun-14 and overall experience of 1s) Crisil Low Duration Debt Index V - Growth - Dividend - Weekly Div - Daily Dividend Reg - Growth Reg - Dividend Reg - Weekly Div Reg - Daily Dividend 4146.88 ( in Cr.) 4300.17 ( in Cr.) 2679.8440 1699.6285 1008.5130 1003.3825 2655.6706 1684.9809 1008.5015 1003.3740 0.15 0.36 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. Name of the Instrument Debt Instruments Non-convertible Debentures/bonds 09.38 % Rural Electrification Corp. Ltd. 09.15 % Tata Capital Financial Services Ltd. 08.78 % Indiabulls Housing Finance Ltd. 07.85 % Power Finance Corporation 07.50 % HDFC Ltd. 07.85 % Small Indust Devlop Bank Of India 06.75 % Rural Electrification Corp. Ltd. 07.95 % Nabard 07.65 % Kotak Mahindra Prime Ltd. 08.50 % Vedanta Ltd. 08.62 % Tata Capital Housing Finance Ltd. 07.90 % Nabard 07.90 % HDFC Ltd. 07.85 % HDFC Ltd. 08.10 % Orix Leasing & Financial Services India Ltd. 07.70 % Housing & Urban Development Corporation Ltd. 07.85 % Shriram Trans. Fin. Co. Ltd. 07.39 % Power Grid Corporation Of India Ltd. 08.80 % Rural Electrification Corp. Ltd. 08.90 % Reliance Jio Infocomm Ltd. 08.40 % Reliance Jio Infocomm Ltd. 07.63 % Tata Capital Financial Services Ltd. 07.53 % Power Finance Corporation 07.59 % Kotak Mahindra Investments Ltd. 07.25 % Reliance Utilities And Power Private Ltd. 09.76 % LIC Housing Finance Ltd. 07.33 % Reliance Utilities And Power Private Ltd. 07.40 % Reliance Utilities And Power Private Ltd. 09.65 % HDFC Ltd. 07.60 % Reliance Utilities And Power Private Ltd. Privately Placed/Unlisted 08.40 % Citicorp Finance Ltd. Shriram City Union Finance Ltd. - Frb 08.19 % Mahindra Vehicle Manufacturers Ltd. Ratings CRISIL- AA+ CRISIL- AA CRISIL- AA+ IND AAA ICRA- AAA CRISIL- AA+ CRISIL- AA+ CRISIL- AA- ICRA- AAA Lakhs 183752.63 19081.74 18516.63 18480.70 14922.24 9958.70 9933.59 9886.98 7480.31 7478.59 5428.14 4999.46 4991.02 4975.27 4964.14 4955.53 4934.42 4474.93 3972.43 3521.16 2509.94 2500.62 2477.68 2463.47 2460.36 2458.51 1512.62 1467.45 1460.68 1005.62 479.70 41289.43 9995.07 9977.32 4989.35 % to V 44.31 4.60 4.47 4.46 3.60 2.40 2.40 2.38 1.80 1.80 1.31 1.21 1.20 1.20 1.20 1.20 1.19 1.08 0.96 0.85 0.61 0.60 0.60 0.59 0.59 0.59 0.36 0.35 0.35 0.24 0.12 9.96 2.41 2.41 1.20 Name of the Instrument 07.54 % Gruh Finance Ltd. 07.44 % Daimler Financial Services India Private Ltd. 08.05 % Vodafone Mobile Services Ltd. 08.00 % Ongc Petro-additions Ltd. 08.05 % Daimler Financial Services India Private Ltd. Money Market Instruments Axis Bank Ltd. - CD Bandhan Bank Ltd. - CD Edelweiss Commodities Services Ltd. - CP Housing & Urban Development Corporation Ltd. - CP Piramal Enterprises Ltd. - CP Dewan Housing Fin Corporation Ltd. - CP HDFC Bank Ltd. - CD HDFC Ltd. - CP Il & Fs Financial Ser Ltd. - CP HDFC Bank Ltd. - CD HDFC Ltd. - CP Small Indust Devlop Bank Of India - CD Il&fs Securities Services Ltd. - CP BARD - CP Rural Electrification Corp. Ltd. - CP Indusind Bank Ltd. - CD Yes Bank Ltd. - CD Yes Bank Ltd. - CD Indusind Bank Ltd. - CD Reliance Industries Ltd. - CP Indusind Bank Ltd. - CD Indusind Bank Ltd. - CD Indusind Bank Ltd. - CD Yes Bank Ltd. - CD CBLO Repo Cash / Net Current Asset Ratings CRISIL- AA- ICRA- AAA(SO) CARE- A1+ CARE- A1+ Lakhs 4973.12 4915.99 2500.75 2444.12 1493.71 164308.32 16795.42 14991.83 9863.96 9811.52 9796.41 9742.56 9423.49 9417.51 7490.87 7129.27 7084.37 6938.33 4970.51 4936.88 4902.71 4897.55 4744.62 4703.10 4691.30 2450.53 2446.79 2373.22 2354.51 2351.06 14997.59 1017.89 405365.86 9322.25 414688.11 % to V 1.20 1.19 0.60 0.59 0.36 39.62 4.05 3.62 2.38 2.37 2.36 2.35 2.27 2.27 1.81 1.72 1.71 1.67 1.20 1.19 1.18 1.18 1.14 1.13 1.13 0.59 0.59 0.57 0.57 0.57 3.62 0.25 97.76 2.24 VOLATILITY MEASURES^ FUND Portfolio Macauley Duration Average Maturity MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load NIL 0.55 0.73 0.83 0.17 0.00 Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets 0.72 0.16 7.38 Months 8.41 Months ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer Pg 48 7.89% 8.07% SIP - If you had invested INR 10000 every month Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Crisil Low Duration Debt Index B Crisil Low Duration Debt Index Total Value of AB CRISIL 1 Yr T-Bill Index AB CRISIL 1 Yr T-Bill Index (Inception date 06-Sep-2005) (First Installment date 01-Oct-2005) Composition by Ratings 7 Year 10 Year 8,40,000 12,00,000 15,20,000 1,23,974 4,01,036 7,29,327 11,21,942 18,32,997 26,12,550 6.24% 7.15% 7.75% 8.14% 8.21% 8.17% 1,23,964 4,01,754 7,33,651 11,31,630 18,22,785 25,66,672 6.22% 7.27% 7.99% 8.38% 8.11% 7.91% 1,23,637 3,95,589 7,13,004 10,77,234 16,99,339 23,43,174 5.70% 6.23% 6.84% 7.00% 6.77% 6.57% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer 3.01% 6.11% 8.66% A1+ / AAA 82.22% AA+ / AA AA- Cash & Cash Equivalents Instrument Wise Composition 20.22% 19.40% 2.41% 6.11% NCD - Non Convertible Deb 51.86% Commercial Papers Certificate Of Deposit Floating Rate Bonds Cash & Cash Equivalents Maturity Ladder Cash & Others Abv 5 Yrs 3-5 Yrs 2-3 Yrs 1-2 Yrs 6-12 Mths 3-6 Mths 1-3 Mths 0-1 Mths 2.25% 0% 0.12% 5.50% 10.45% 10.48% 15.58% 21.59% 34.04% 0.00% 10.00% 20.00% 30.00% 40.00% V Movement 130 124 118 112 106 Tata Treasury Advantage Fund - Reg - Growth Crisil Low Duration Debt Index 100 May-15 May-16 May-17 May-18 27

Tata Liquid Fund (Erstwhile known as Tata Money Market Fund; renamed w.e.f May 16, 2018) (An open-ended liquid Scheme) [ICRA]A1+mfs rating by ICRA$ The investment objective is to generate reasonable returns with high liquidity to the unitholders FUND MAGER Amit Somani (Managing Since 16-Oct-13 and overall experience of 16 years) Crisil Liquid Fund Index VOLATILITY MEASURES^ FUND A high liquidity income scheme that aims to generate reasonable returns. September 01,2004 V - Growth - Daily Dividend Reg - Growth Reg - Daily Dividend 14935.71 ( in Cr.) 15998.25 ( in Cr.) 2769.9539 1001.5187 2758.1502 1001.5157 0.09 0.15 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes Borrowing cost of 0.23 in regular plan and 0.22 in plan and also excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Nil 0.21 0.73 0.76 0.13 0.03 0.24 0.09 Portfolio Macauley Duration Average Maturity 1.25 Months 1.25 Months Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 7.46% 7.47% Name of the Instrument Ratings Debt Instruments Money Market Instruments Treasury Bill 91 Days (30/08/2018) Treasury Bill 91 Days (05/07/2018) Treasury Bill 91 Days (12/07/2018) HDFC Ltd. - CP Treasury Bill 182 Days (28/06/2018) PNB Housing Finance Ltd. - CP Indiabulls Housing Finance Ltd. - CP Yes Bank Ltd. - CD Punjab & Sind Bank - CD Piramal Enterprises Ltd. - CP India Infoline Finance Ltd. - CP Indiabulls Housing Finance Ltd. - CP Stci Finance Ltd. - CP Piramal Enterprises Ltd. - CP Piramal Housing Finance Ltd. - CP Il&fs Ltd. - CP Nabha Power Ltd. - CP India Infoline Housing Finance Ltd. - CP Vedanta Ltd. - CP Reliance Jio Infocomm Ltd. - CP Reliance Jio Infocomm Ltd. - CP Pnb Housing Finance Ltd. - CP L&t Finance Ltd. - CP India Infoline Finance Ltd. - CP Il & Fs Financial Ser Ltd. - CP Il & Fs Financial Ser Ltd. - CP Essel Mining & Industries Ltd. - CP Il & Fs Financial Ser Ltd. - CP Dewan Housing Fin Corporation Ltd. - CP Rbl Bank Ltd. - CD HDFC Ltd. - CP Il&fs Securities Services Ltd. - CP BARD - CP Talwandi Sabo Power Ltd. - CP (SO) Ujjivan Small Finance Bank Ltd. - CD ECL Finance Ltd. - CP IDFC Bank Ltd. - CD Adani Ports & Special Economic Zone Ltd. - CP GIC Housing Finance Ltd. - CP Reliance Industries Ltd. - CP IDFC Bank Ltd. - CD BARD - CP Vedanta Ltd. - CP Axis Bank Ltd. - CD Deepak Fert.& Petrochem. Corp Ltd. - CP Deepak Fert.& Petrochem. Corp Ltd. - CP 1385150.46 63563.91 49367.90 48423.61 46979.92 44800.11 44745.23 42037.56 34765.39 32481.96 32422.88 29829.77 29619.72 29619.30 29615.43 24939.60 24931.95 24913.11 24869.86 24699.24 24698.83 24688.93 24678.50 24659.50 22146.66 19956.43 19951.28 19951.20 19931.90 19924.02 19776.26 19765.74 19749.96 19747.52 19640.22 17419.36 17261.93 14988.69 14941.76 14919.89 14877.68 14811.57 14795.34 14764.73 12488.62 12447.20 12342.97 92.74 4.26 3.31 3.24 3.15 3.00 3.00 2.81 2.33 2.17 2.17 2.00 1.98 1.98 1.98 1.67 1.67 1.67 1.67 1.65 1.65 1.65 1.65 1.65 1.48 1.34 1.34 1.34 1.33 1.33 1.32 1.32 1.32 1.32 1.31 1.17 1.16 0.99 0.99 0.99 0.84 0.83 0.83 Repo Cash / Net Current Asset 2096.81 1491247.27 2323.77 1493571.04 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Crisil Liquid Fund Index B Crisil Liquid Fund Index Total Value of AB CRISIL 1 Yr T-Bill Index AB CRISIL 1 Yr T-Bill Index (Inception date 01-Sep-2004) (First Installment date 01-Oct-2004) Composition by Ratings 7.25% % to Name of the Instrument Ratings Lakhs V 120,000 124,451 6.97% 124,472 7.00% 123,659 5.72% 360,000 400,501 7.05% 400,325 7.02% 395,678 6.24% Cox & Kings Ltd. - CP CARE- A1+ T V Sundram Iyengar & Sons Private Ltd. - CP Dewan Housing Fin Corporation Ltd. - CP Kotak Mahindra Bank - CD Smartchem Technologies Ltd. - CP India Infoline Finance Ltd. - CP Network 18 Media & Investments Ltd. - CP BARD - CP Cooperatieve Rabobank U.a - CD Aadhar Housing Finance Ltd. - CP IIFL Facilities Services Ltd. - CP Jm Financial Asset Reconstruction Company Ltd. - CP Smartchem Technologies Ltd. - CP IDFC Bank Ltd. - CD Federal Bank Ltd. - CD Muthoot Homefin (india) Ltd. - CP Cox & Kings Ltd. - CP CARE- A1+ Cox & Kings Ltd. - CP CARE- A1+ Bharti Hexacom Ltd. - CP Jm Financial Asset Reconstruction Company Ltd. - CP Il&fs Securities Services Ltd. - CP HDFC Credila Financial Services Pvt Ltd. - CP Edelweiss Commodities Services Ltd. - CP Il&fs Securities Services Ltd. - CP Raymond Ltd. - CP Iifl Securities Ltd. - CP Edelweiss Commodities Services Ltd. - CP Fedbank Financial Services Ltd. - CP Reliance Industries Ltd. - CP Power Finance Corporation - CP Pnb Housing Finance Ltd. - CP Aditya Birla Finance Ltd. - CP Reliance Industries Ltd. - CP HDFC Ltd. - CP Treasury Bill 91 Days (07/06/2018) Treasury Bill 91 Days (26/07/2018) Treasury Bill 91 Days (23/08/2018) Treasury Bill 91 Days (19/07/2018) Treasury Bill 91 Days (09/08/2018) Fixed Deposit Yes Bank Ltd. RBL Bank Ltd. Bandhan Bank 600,000 725,622 7.54% 724,818 7.49% 713,125 6.85% Instrument Wise Composition 840,000 1,114,508 7.95% 1,109,112 7.81% 1,077,425 7.00% 1,200,000 1,813,560 8.01% 1,789,896 7.76% 1,699,559 6.77% Lakhs 9988.25 9979.66 9979.65 9954.94 9952.66 9950.53 9914.33 9906.26 9860.92 7491.68 7420.77 7391.50 7342.52 4997.41 4997.37 4995.87 4986.22 4978.75 4976.62 4974.36 4970.51 4932.97 4931.98 4928.04 4899.74 4898.14 4893.83 2998.23 2495.26 2489.20 2487.74 2486.81 2483.76 2473.73 309.50 264.11 173.38 25.89 14.23 104000.00 20000.00 34000.00 50000.00 % to V 0.67 0.67 0.67 0.67 0.67 0.67 0.66 0.66 0.66 0.50 0.50 0.49 0.49 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.33 0.20 0.17 0.17 0.17 0.17 0.17 0.17 0.02 0.02 0.01 0.00 0.00 6.96 1.34 2.28 3.35 0.14 99.84 0.16 1,640,000 2,899,825 7.93% 2,821,524 7.57% 2,607,562 6.50% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer 13.86% A1+ / AAA 11.82% 7.25% 13.86% Treasury Bills Commercial Papers Certificate Of Deposit 78.89% Cash & Cash Equivalents 67.07% Cash & Cash Equivalents Maturity Ladder Cash & Others 5.56% 2-3 Mths 19.33% 1-2 Mths 28.42% Abv 15-30 Days 22.49% Abv 7-15 Days 14.97% 1-7 Days 9.23% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% V Movement 130 124 118 112 106 Tata Liquid Fund - Reg - Growth Crisil Liquid Fund Index 100 May-15 May-16 May-17 May-18 28

Tata Money Market Fund (Erstwhile known as Tata Liquid Fund; renamed w.e.f May 16, 2018) (An open ended debt scheme investing in money market instruments.) [ICRA]A1+mfs rating by ICRA$ A money market scheme (liquid fund category) that invests 100% of its net assets in Money market securities. The investment objective is to generate returns with reasonable liquidity to the unitholders by investing in money market instruments. May 22, 2003 FUND MAGER Amit Somani (Managing Since 16-Oct-13 and overall experience of 16 years) Crisil Money Market Index V - Growth - Daily Dividend Reg - Growth Reg - Daily Dividend VOLATILITY MEASURES^ FUND MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Nil 0.21 0.54 0.65 0.18 0.04 3241.4826 1114.5200 3228.9564 1114.5200 1227.79 ( in Cr.) 2531.40 ( in Cr.) 0.10 0.15 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes Borrowing cost of 0.09 in regular plan and 0.10 in plan and also excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities 0.31 0.10 Portfolio Macauley Duration Average Maturity 1.94 Months 1.94 Months Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets 7.67% 7.67% ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 Name of the Instrument Ratings Lakhs Debt Instruments Money Market Instruments Federal Bank Ltd. - CD Vijaya Bank - CD Kotak Mahindra Bank - CD Adani Ports & Special Economic Zone Ltd. - CP IDFC Bank Ltd. - CD Dewan Housing Fin Corporation Ltd. - CP Cox & Kings Ltd. - CP Il&fs Securities Services Ltd. - CP HDFC Ltd. - CP Raymond Ltd. - CP IIFL Securities Ltd. - CP Avanse Financial Services Ltd. - CP Smartchem Technologies Ltd. - CP Edelweiss Commodities Services Ltd. - CP Il&fs Ltd. - CP Sundaram Bnp Paribas Home Fin Ltd. - CP Axis Bank Ltd. - CD Piramal Finance Ltd. - CP Ujjivan Small Finance Bank Ltd. - CD Smartchem Technologies Ltd. - CP CARE- A1+ CARE- A1+ 118390.65 9987.27 9955.35 9954.94 9948.40 9890.56 4981.01 4978.75 4928.04 4916.38 4899.74 4898.14 4897.60 4895.02 4893.83 4820.24 4802.22 4798.69 2489.95 2488.48 2488.17 96.43 8.13 8.11 8.11 8.10 8.06 4.06 4.06 4.01 4.00 3.99 3.99 3.99 3.99 3.99 3.93 3.91 3.91 2.03 2.03 2.03 Name of the Instrument Ratings Lakhs JM Financial Asset Reconstruction Company Ltd. - CP Treasury Bill 91 Days (14/06/2018) 2451.42 26.45 CBLO Repo Net Current Liabilities 5924.05 280.56 124595.26-1815.84 122779.42 4.82 0.23 101.48-1.48 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B Crisil Money Market Index B Crisil Money Market Index Total Value of AB CRISIL 1 Yr T-Bill Index AB CRISIL 1 Yr T-Bill Index 120,000 124,461 6.98% 124,454 6.97% 123,659 5.72% 360,000 400,337 7.02% 400,876 7.12% 395,678 6.24% 600,000 724,856 7.50% 726,958 7.61% 713,125 6.85% 840,000 1,112,139 7.89% 1,115,406 7.97% 1,077,425 7.00% 1,200,000 1,809,188 7.96% 1,809,745 7.97% 1,699,559 6.77% 1,800,000 3,337,022 7.78% 3,309,333 7.68% 2,975,586 6.39% (Inception date 22-May-2003) (First Installment date 01-Jun-2003) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 0.02% 3.58% A1+ / AAA Cash & Cash Equivalents % to V Instrument Wise Composition 38.34% 0.02% 3.58% 58.06% Treasury Bills Commercial Papers Certificate Of Deposit Cash & Cash Equivalents % to V 2.00 0.02 96.40% Maturity Ladder Cash & Others 22.23% 2-3 Mths 13.98% 1-2 Mths 12.07% Abv 15-30 Days 38.51% Abv 7-15 Days 8.16% 1-7 Days 5.05% 0.00% 10.00% 20.00% 30.00% 40.00% V Movement 130 124 118 112 106 Tata Money Market Fund - Reg - Growth Crisil Money Market Index 100 May-15 May-16 May-17 May-18 29

Tata Gilt Securities Fund (An Open-Ended Debt Scheme investing predominantly in Government Securities across maturity) A debt scheme that invests in Government securities to generate reasonable returns emphasising the importance of captial preservation. Generate medium to long term capital appreciation and income distribution by investing predominantly in Government Securities. September 6, 1999 Name of the Instrument Ratings Lakhs Debt Instruments Government Securities GOI - 6.68% (17/09/2031) GOI - 7.17% (08/01/2028) GOI - 7.59% (11/01/2026) SDL Tamilnadu 7.65% (06/12/2027) GOI 10.70% (22/04/2020) GOI 6.90% (13/07/2019) 9325.28 4013.10 3824.80 1459.91 14.35 10.73 2.39 % to V 80.26 34.54 32.92 12.56 0.12 0.09 0.02 Name of the Instrument Repo Cash / Net Current Asset Ratings Lakhs 622.15 9947.43 1671.85 11619.28 % to V 5.35 85.61 14.39 FUND MAGER Naresh Kumar (Managing Since 1-Apr-17 and overall experience of 5.6 years) Crisil Dynamic Gilt Index V - Growth - Dividend Reg -Growth Reg -Dividend 116.19 ( in Cr.) 117.32 ( in Cr.) 50.8471 14.7683 48.4073 13.9785 0.28 1.52 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND 5.16 1.02 0.90-0.04-0.22 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable 4.44 0.17 Portfolio Macauley Duration Average Maturity 5.9s 8.7s Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets *NCA - Net Current Assets 7.43% 7.57% SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B CRISIL Dynamic Gilt Index B CRISIL Dynamic Gilt Index Total Value of AB CRISIL 10 Yr Gilt Index AB CRISIL 10 Yr Gilt Index 1,16,732-5.04% 1,19,265-1.14% 1,17,274-4.21% 3,77,628 3.13% 3,85,325 4.47% 3,75,508 2.76% 6,97,009 5.94% 7,13,115 6.85% 6,88,289 5.44% 8,40,000 10,78,186 7.03% 10,94,513 7.45% 10,38,623 5.98% 12,00,000 17,23,669 7.04% 17,66,001 7.50% 16,27,689 5.94% 22,40,000 45,78,617 7.14% 48,40,530 7.67% 41,26,443 6.15% (Inception date 06-Sep-1999) (First Installment date 01-Oct-1999) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 19.74% Instrument Wise Composition 0.12% 19.75% Government Securities State Development Loans Exit Load 0.50% of V if redeemed on or before expiry of 180 days from the date of allotment. Cash & Cash Equivalents 80.26% Maturity Ladder Cash & Others 14.39% Abv 10 Yrs 34.54% 7-10 Yrs 45.61% 3-7 Yrs 0.00% 1-3 Yrs 0.11% 0-1 Yrs 5.35% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% V Movement 130 122 114 106 98 80.13% Tata Gilt Securities Fund - Reg - Growth Crisil Dynamic Gilt Index Cash & Cash Equivalents 90 May-15 May-16 May-17 May-18 30

Tata Gilt Mid Term Fund (An Open-Ended Debt Scheme investing predominantly in Government Securities) A debt scheme that invests in Government securities to generate returns. Under normal circumstances the average portfolio maturity shall not exceed 1s. To provide reasonable returns and high liquidity to the Unitholders by investing predominantly in Government Securities having residual maturity upto 1s. However, there can be no assurance that the investment objective of the scheme will be realized. June 24, 2010 FUND MAGER Naresh Kumar (Managing Since 1-Apr-17 and overall experience of 5.6 years) I-Sec Composite Index V - Growth 19.4026 - Dividend 18.1589 # Reg - Growth 18.4865 Reg - Dividend 17.5451 # Plans are available for subscription under all open ended schemes of Tata Mutual Fund w.e.f 1st January 2013. Separate V will be calculated & published for respective option(s) of the Plan upon initial subscription. 190.10 ( in Cr.) 192.06 ( in Cr.) 0.37 1.67 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Portfolio Macauley Duration Average Maturity 3.88 1.07 0.98 0.02-0.21 Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets 3.72 0.22 4.79 Years 6.29 Years ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load NIL 7.80% 7.90% Name of the Instrument Debt Instruments Government Securities GOI 8.35% 14/5/2022 GOI - 8.28% (21/09/2027) GOI 8.24% 15/02/2027 GOI - 7.16% (20/05/2023) SDL Maharashtra 8.94% (23/07/2024) GOI - 7.68% (15/12/2023). GOI 7.35% (22/06/2024) SDL Karnataka 7.27% (28/12/2026) SDL Tamilnadu 8.06% (25/02/2025) SDL Maharashtra 8.44% (26/11/2024) Ratings Lakhs 17710.14 4065.83 4044.00 3882.73 3390.45 513.74 495.21 485.40 425.31 256.66 150.81 % to V 93.16 21.39 21.27 20.43 17.84 2.70 2.61 2.55 2.24 1.35 0.79 Name of the Instrument Repo Cash / Net Current Asset 1066.12 18776.26 233.34 19009.60 % to V 5.61 98.77 1.23 SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B I-Sec Composite Index B I-Sec Composite Index Total Value of AB CRISIL 10 Yr Gilt Index AB CRISIL 10 Yr Gilt Index 1,19,352-1.01% 1,20,692 1.08% 1,17,274-4.21% 3,83,963 4.24% 3,91,776 5.58% 3,75,508 2.76% 7,09,756 6.66% 7,26,931 7.62% 6,88,289 5.44% 8,40,000 11,06,150 7.74% 11,22,332 8.15% 10,38,623 5.98% 9,50,000 13,06,607 7.89% 13,24,761 8.23% 12,11,491 6.03% (Inception date 24-Jun-2010) (First Installment date 01-Jul-2010) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 6.84% Instrument Wise Composition 6.84% 7.08% Ratings Lakhs Government Securities State Development Loans Cash & Cash Equivalents 93.16% Cash & Cash Equivalents 86.08% Maturity Ladder Cash & Others 1.23% Abv 10 Yrs 0.00% 7-10 Yrs 43.94% 3-7 Yrs 49.23% 1-3 Yrs 0.00% 0-1 Yrs 5.61% 0.00% 1% 22.00% 33.00% 44.00% 55.00% V Movement 130 122 114 106 98 Tata Gilt Mid Term Fund - Reg - Growth I-Sec Composite Index 90 May-15 May-16 May-17 May-18 31

Tata Retirement Savings Fund - Progressive (An open ended retirement solution oriented scheme having a lock-in of s or till retirement age (whichever is earlier)) VOLATILITY MEASURES^ FUND Sharpe Ratio A Fund that aims to provide an investment tool for retirement planning to suit the risk profile of the investor. To provide a financial planning tool for long term financial security for investors based on their retirement planning goals. However, there can be no assurance that the investment objective of the fund will be realized, as actual market movements may be at variance with anticipated trends. November 1, 2011 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) (Equity) & Murthy Nagarajan (Managing since 1-Apr-17 and overall experience of 21 years) (Debt) S&P BSE Sensex TRI V - Growth Reg - Growth 467.54 ( in Cr.) 454.10 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 32.2240 29.6081 16.00 0.18 0.96 0.68 0.86 0.47 42.91% 42.91% 1.72 2.69 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 13.66 0.10 0.38 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load (A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age Nil. (B) In case of Auto switch-out of units on occurrence of Auto-switch trigger event NIL (C) If redeemed before 60 years of age 1%. Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Bajaj Auto Ltd. Ashok Leyland Ltd. Auto Ancillaries Ceat Ltd. Banks HDFC Bank Ltd. Kotak Mahindra Bank Ltd. Yes Bank Ltd. Cement Grasim Industries Ltd. Dalmia Bharat Ltd. Construction Project Larsen & Toubro Ltd. Voltas Ltd. Engineers India Ltd. Consumer Durables Bata India Ltd. Havells India Ltd. Consumer Non Durables Hindustan Unilever Ltd. Radico Khaitan Ltd. Jubilant Foodworks Ltd. Nestle India Ltd. ITC Ltd. Tata Global Beverages Ltd. Heritage Foods Ltd. Finance Housing Development Finance Ltd. Max Financial Services Ltd. Bajaj Finserv Ltd. Bajaj Finance Ltd. ICICI Prudential Life Insurance Company Ltd. Muthoot Finance Ltd. No. of Shares 18250 32550 590000 53800 115500 165600 635000 64000 21700 137500 130000 370000 150600 126800 90500 232600 40000 10200 325000 305000 80000 99000 236838 17150 49000 204500 139000 SIP - If you had invested INR 10000 every month Total Amount Invested () Total Value as on May 31, 2018 () Returns Total Value of B S&P BSE Sensex TRI B S&P BSE Sensex TRI (Inception date 01-Nov-2011) (First Installment date 01-Dec-2011) Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. Kotak Mahindra Bank Yes Bank Ltd. Larsen & Toubro Ltd. HDFC Ltd. Maruti Suzuki India Ltd. Hindustan Unilever Ltd. Power Grid Corporation Of India Ltd. Future Retail Ltd. Bata India Ltd. Total Lakhs 44854.77 1557.63 895.82 874.97 732.11 2467.25 2214.07 2198.37 664.16 592.71 1880.45 702.26 485.81 1171.82 691.76 1460.35 1071.70 1004.84 985.09 882.70 817.71 575.88 1810.22 1157.55 1037.31 1032.97 864.93 536.75 % of Assets 95.94 3.33 1.92 1.87 1.57 5.28 4.74 4.70 1.42 1.27 4.02 1.50 1.04 2.51 1.48 3.12 2.29 2.15 2.11 1.89 1.75 1.23 3.87 2.48 2.22 2.21 1.85 1.15 % to V 5.28 4.74 4.70 4.02 3.87 3.33 3.12 3.04 2.52 2.51 37.13 Gas Gail ( India ) Ltd. Industrial Products Finolex Cables Ltd. Nilkamal Ltd. Media & Entertainment Sun Tv Network Ltd. Zee Entertainment Enterprises Ltd. Petroleum Products Reliance Industries Ltd. Power Power Grid Corporation Of India Ltd. Retailing Future Retail Ltd. Future Consumer Ltd. Avenue Supermarts Ltd. Software Tata Elxsi Ltd. Majesco Ltd. Kpit Technologies Ltd. Textile Products Raymond Ltd. Transportation Container Corporation Of India Ltd. Other Equities^ Repo Net Current Liabilities No. of Shares 197333 125000 28375 102200 151500 125000 680000 200000 1495000 47000 92000 109500 180000 83800 51514 ^ Exposure less than 1% has been clubbed under Other Equities Industry Allocation Lakhs 691.16 854.31 484.43 937.48 844.54 1151.63 1420.86 1178.00 867.10 735.79 1135.92 547.66 498.24 823.54 709.76 1607.16 1988.52 46843.29-88.93 46754.36 % of Assets 1.48 1.83 1.04 2.01 1.81 2.46 3.04 2.52 1.85 1.57 2.43 1.17 1.07 1.76 1.52 3.44 4.25 100.19-0.19 7 Year 10 Year 120,000 360,000 600,000 780,000 127,800 484,209 992,845 1,477,010 12.33% 20.26% 20.27% 19.42% 129,137 451,137 835,312 1,222,171 14.49% 15.24% 13.21% 13.64% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered For scheme performance refer pages 36-48. *B Benchmark Source MFI Explorer Banks Consumer Non Durables Finance Auto Construction Project Retailing Software Consumer Durables Media & Entertainment Cement Power Industrial Products Gas Petroleum Products Textile Products Auto Ancillaries Transportation Pharmaceuticals Construction 7.12% 6.56% 5.95% 4.67% 3.99% 3.81% 3.59% 3.04% 2.86% 2.47% 2.46% 1.76% 1.57% 1.52% 0.87% 0.67% 14.71% 14.54% 13.77% 0.00% 5.00% 10.00% 15.00% 20.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 65.33% 20.89% 13.78% V Movement 160 Tata Retirement Savings Fund - Progressive Plan - Reg S&P BSE Sensex TRI 144 128 112 96 80 May-15 May-16 May-17 May-18 32

Tata Retirement Savings Fund - Moderate (An open ended retirement solution oriented scheme having a lock-in of s or till retirement age (whichever is earlier)) VOLATILITY MEASURES^ FUND Sharpe Ratio A Fund that aims to provide an investment tool for retirement planning to suit the risk profile of the investor. To provide a financial planning tool for long term financial security for investors based on their retirement planning goals. However, there can be no assurance that the investment objective of the fund will be realized, as actual market movements may be at variance with anticipated trends. November 1, 2011 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) (Equity) & Murthy Nagarajan (Managing since 1-Apr-17 and overall experience of 21 years) (Debt) Crisil Hybrid 25+75 - Aggressive Index V - Growth Reg - Growth 733.18 ( in Cr.) 689.13 ( in Cr.) 12.23 0.17 1.08 0.86 0.54 0.01 32.3801 30.1279 TURN OVER Portfolio Turnover (Total) 26.84% Portfolio Turnover (Equity component only) 26.84% 1.52 2.54 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees.The above ratio includes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. 10.40 0.18 0.53 ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load (A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age Nil. (B) In case of Auto switch-out of units on occurrence of Auto-switch trigger event NIL (C) If redeemed before 60 years of age 1%. Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Bajaj Auto Ltd. Ashok Leyland Ltd. Auto Ancillaries Ceat Ltd. Banks HDFC Bank Ltd. Kotak Mahindra Bank Ltd. Yes Bank Ltd. Cement Grasim Industries Ltd. Dalmia Bharat Ltd. Construction Project Larsen & Toubro Ltd. Voltas Ltd. Consumer Durables Bata India Ltd. Havells India Ltd. Consumer Non Durables Hindustan Unilever Ltd. Radico Khaitan Ltd. Nestle India Ltd. Jubilant Foodworks Ltd. ITC Ltd. Tata Global Beverages Ltd. Heritage Foods Ltd. Finance Housing Development Finance Ltd. Max Financial Services Ltd. Bajaj Finserv Ltd. Bajaj Finance Ltd. ICICI Prudential Life Insurance Company Ltd. Industrial Products Finolex Cables Ltd. No. of Shares Lakhs 57097.99 22760 43200 735000 64400 155000 220050 845500 85300 27805 183000 172500 199700 169000 120000 294500 12700 46000 420000 393000 107538 127500 314799 22800 64900 254000 148656 SIP - If you had invested INR 10000 every month 1942.55 1188.93 1090.01 876.36 3311.03 2942.07 2927.12 885.20 759.47 2502.71 931.85 1553.87 921.98 1936.38 1356.91 1226.53 1155.57 1140.72 1053.63 774.11 2331.34 1538.58 1379.05 1368.16 1074.29 1015.99 Total Amount Invested () 120,000 Total Value as on May 31, 2018 () 126,595 Returns 10.40% Total Value of B Crisil Hybrid 25+75 - Aggressive Index 124,452 B Crisil Hybrid 25+75 - Aggressive Index 6.98% Total Value of AB S&P BSE Sensex TRI 129,137 AB S&P BSE Sensex TRI 14.49% (Inception date 01-Nov-2011) (First Installment date 01-Dec-2011) Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. Kotak Mahindra Bank Yes Bank Ltd. Larsen & Toubro Ltd. HDFC Ltd. Maruti Suzuki India Ltd. Hindustan Unilever Ltd. Power Grid Corporation Of India Ltd. Reliance Industries Ltd. Bata India Ltd. Total % of Assets 77.88 2.65 1.62 1.49 1.20 4.52 4.01 3.99 1.21 1.04 3.41 1.27 2.12 1.26 2.64 1.85 1.67 1.58 1.56 1.44 1.06 3.18 2.10 1.88 1.87 1.47 1.39 CBLO Repo Cash / Net Current Asset No. of Shares Lakhs 4999.19 257.92 73040.22 277.31 73317.53 % of Assets 6.82 0.35 99.62 0.38 7 Year 10 Year % to V 4.52 4.01 3.99 3.41 3.18 2.65 2.64 2.55 2.12 2.12 31.19 360,000 463,664 17.17% 436,114 12.88% 451,137 15.24% Media & Entertainment Sun Tv Network Ltd. Zee Entertainment Enterprises Ltd. Petroleum Products Reliance Industries Ltd. Power Power Grid Corporation Of India Ltd. Retailing Future Retail Ltd. Future Consumer Ltd. Software Tata Elxsi Ltd. Textile Products Raymond Ltd. Transportation Container Corporation Of India Ltd. Other Equities^ Industry Allocation 133650 211550 169000 895000 251500 1985000 114200 79750 1225.97 1179.29 1557.00 1870.10 1481.34 1151.30 1410.03 783.74 64486 888.49 6366.32 Name of the Instrument Ratings Lakhs Debt Instruments Government Securities GOI - 8.40% (28/07/2024) Non-Convertible Debentures/Bonds/ZCB HDFC Ltd. - ZCB 07.85 % Power Finance Corporation 07.85 % Small Indust Develop Bank Of India 07.74 % LIC Housing Finance Ltd. 06.99 % Rural Electrification Corp. Ltd. 08.22 % ICICI Home Finance Co.Ltd. ICRA- AAA ^ Exposure less than 1% has been clubbed under Other Equities 600,000 968,105 19.23% 833,548 13.12% 835,312 13.21% 509.48 509.48 10175.64 2716.91 2487.04 2483.40 1472.96 966.21 49.12 1.67 1.61 2.12 2.55 2.02 1.57 1.92 1.07 1.21 8.68 % to V 0.69 0.69 13.88 3.71 3.39 3.39 2.01 1.32 0.07 780,000 1,461,476 19.10% 1,214,257 13.44% 1,222,171 13.64% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark, AB Additional Benchmark Source MFI Explorer Banks Consumer Non Durables Finance Auto Construction Project Retailing Software Consumer Durables Media & Entertainment Cement Power Industrial Products Petroleum Products Gas Transportation Auto Ancillaries Textile Products Construction Pharmaceuticals 5.76% 5.57% 4.31% 3.74% 3.38% 3.28% 3.05% 2.55% 2.21% 2.12% 1.83% 1.21% 1.20% 1.07% 0.52% 0.46% 12.52% 11.79% 11.32% 0.00% 5.00% 10.00% 15.00% Market Capitalisation wise Exposure (Equity component only) Large Cap Mid Cap Small Cap Market Capitalisation is as per list provided by AMFI. 66.00% 20.83% 13.17% V Movement 150 136 122 108 94 80 Tata Retirement Savings Fund - Moderate Plan - Reg CRISIL Hybrid 25+75 Aggressive Index May-15 May-16 May-17 May-18 33

Tata Retirement Savings Fund - Conservative Plan (An open ended retirement solution oriented scheme having a lock-in of s or till retirement age (whichever is earlier)) A Fund that aims to provide an investment tool for retirement planning to suit the risk profile of the investor To provide a financial planning tool for long term financial security for investors based on their retirement planning goals. However, there can be no assurance that the investment objective of the fund will be realized, as actual market movements may be at variance with anticipated trends. November 01, 2011 FUND MAGER Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) (Equity) & Murthy Nagarajan (Managing since 1-Apr-17 and overall experience of 21 years) (Debt) CRISIL Short Term Debt Hybrid 75+25 Fund Index V - Growth Reg - Growth 134.83 ( in Cr.) 134.20 ( in Cr.) 20.5405 19.1213 Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Banks HDFC Bank Ltd. Yes Bank Ltd. Kotak Mahindra Bank Ltd. Construction Project Larsen & Toubro Ltd. Finance Housing Development Finance Ltd. Other Equities^ No. of Shares 1790 10400 57750 14600 12150 8800 Lakhs 4079.69 152.78 222.16 199.93 195.20 166.16 160.91 2982.55 % of Assets 30.26 1.13 1.65 1.48 1.45 1.23 1.19 22.12 Name of the Instrument Debt Instruments Government Securities GOI - 6.84% (19/12/2022) GOI 8.24% 15/02/2027 GOI - 6.79% (15/05/2027) GOI - 8.40% (28/07/2024) GOI - 8.20% (24/09/2025) GOI - 7.80% (11/04/2021) GOI - 7.73% (19/12/2034) SDL Maharashtra 8.44% (26/11/2024) Non-convertible Debentures/bonds 09.95 % Food Corporation Of India Ltd. 11.25 % Power Finance Corporation Money Market Instruments Axis Bank Ltd. - CD Repo Cash / Net Current Asset Ratings (SO) ^ Exposure less than 1% has been clubbed under Other Equities Lakhs 5786.44 1443.75 1058.93 930.00 509.48 505.09 501.30 486.00 351.89 977.00 521.18 455.82 49.50 49.50 2494.52 13387.15 95.38 13482.53 % to V 42.92 10.71 7.85 6.90 3.78 3.75 3.72 3.60 2.61 7.25 3.87 3.38 0.37 0.37 18.50 99.29 0.71 1.28 2.63 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND 5.22 1.32 0.87 0.15-0.09 MINIMUM INVESTMENT/ MULTIPLES FOR NEW INVESTMENT 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 3.58 0.22 Portfolio Macauley Duration Average Maturity 3.5s 4.78 Years Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 7.37% 7.44% (A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age Nil. (B) In case of Auto switch-out of units on occurrence of Auto-switch trigger event NIL (C) If redeemed before 60 years of age 1%. SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () 7,80,000 Total Value as on May 31, 2018 () 1,22,172 4,11,492 7,74,317 10,96,565 Returns 3.39% 8.89% 10.15% 10.34% Total Value of B CRISIL Short Term Debt Hybrid 1,23,323 4,10,260 7,61,161 10,78,238 75+25 Fund Index B CRISIL Short Term Debt Hybrid 75+25 Fund Index 5.21% 8.69% 9.46% 9.83% Total Value of AB CRISIL 10 Yr Gilt Index 1,17,274 3,75,508 6,88,289 9,45,631 AB CRISIL 10 Yr Gilt Index -4.21% 2.76% 5.44% 5.85% (Inception date 01-Nov-2011) (First Installment date 01-Dec-2011) Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48 *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 19.20% 42.92% 7.62% 30.26% A1+ / AAA Equity Cash & Cash Equivalents Instrument Wise Composition 0.34% 2.61% 0.37% 19.21% 40.31% 29.91% 7.25% Equity Shares NCD - Non Convertible Deb Government Securities Certificate Of Deposit State Development Loans Compulsory Convertible Debenture Cash & Cash Equivalents Maturity Ladder Cash & Others 30.97% Abv 10 Yrs 3.60% 7-10 Yrs 18.50% 3-7 Yrs 20.96% 1-3 Yrs 3.72% 0-1 Yrs 22.25% 0.00% 10.00% 20.00% 30.00% 40.00% V Movement 130 122 114 106 98 Tata Retirement Savings Fund - Reg - Conservative Plan CRISIL Short Term Debt Hybrid 75+25 Fund Index 90 May-15 May-16 May-17 May-18 34

Tata Young Citizens Fund (An open ended fund for investment for children having a lock-in for at least s or till the child attains age of majority (whichever is earlier)) An equity-oriented scheme that aims to create long term wealth through quality companies providing long term growth opportunities. The debt portion aims to generate regular income through quality debt securities. The investment objective of the Scheme is to generate long term capital growth. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any return. October 14, 1995 FUND MAGER Akhil Mittal (Managing Since 30-Jul-15 and overall experience of 1s) (Debt) & Sonam Udasi (Managing Since 1-Apr-16 and overall experience of 20 years) (Equity) Crisil Hybrid 25+75 - Aggressive Index V Reg 215.90 ( in Cr.) 217.32 ( in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 27.9856 26.4478 44.10% 17.78% 1.83 2.94 **Note The rates specified are the actual weighted average expenses charged for the month of May 2018. The above ratio includes the Service tax on Investment Management Fees. The above ratio excludes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-30 cities assets, wherever applicable. VOLATILITY MEASURES^ FUND Sharpe Ratio Portfolio Macauley Duration Average Maturity 7.45 0.07 0.64 0.84 0.22-0.20 Gross Yield to Maturity (For Debt Component) i. Including Net Current Assets ii. Excluding Net Current Assets 10.40 0.18 0.53 3.40 Years 4.38 Years 7.91% 8.25% ^Risk-free rate based on the FBIL Overnight MIBOR rate of 6% as on May 31, 2018 For calculation methodology please refer to Pg 48 MINIMUM INVESTMENT/ MUL TIPLES FOR NEW INVESTMENT 500/- and in multiples of 500/- thereafter. ADDITIOL INVESTMENT/ MUL TIPLES FOR EXISTING INVESTORS 500/- and in multiples of 500/- thereafter. Entry Load Not Applicable Exit Load Compulsory Lock-in Option s or till the child attains age of majority (whichever is earlier). If redeemed before child attains 18 years of age, Exit load is 1% (Effective from May 3, 2018) No. of Shares Lakhs Equity & Equity Related Total Auto 15859.21 Maruti Suzuki India Ltd. Bajaj Auto Ltd. Hero Motocorp Ltd. Auto Ancillaries 8100 15200 9100 691.33 418.33 322.80 Ceat Ltd. Banks 25000 340.20 Yes Bank Ltd. Kotak Mahindra Bank Ltd. HDFC Bank Ltd. Cement 317500 59500 36300 1099.19 795.52 775.42 Grasim Industries Ltd. Construction Project 22000 228.31 Voltas Ltd. Engineers India Ltd. Consumer Durables 68000 191000 367.34 250.78 Bata India Ltd. Greenply Industries Ltd. Consumer Non Durables 56000 163000 435.74 422.01 Radico Khaitan Ltd. ITC Ltd. 96000 160000 442.32 434.56 Glaxo Smithkline Con Healthcar Ltd. Hindustan Unilever Ltd. Jubilant Foodworks Ltd. P & G Hygiene & Health Care Ltd. Finance 6200 25000 10600 2725 406.69 403.41 266.28 252.74 Max Financial Services Ltd. Muthoot Finance Ltd. Gas 113000 92000 552.29 355.26 Gail ( India ) Ltd. 115554 404.73 Hotels, Resorts And Other Recreational Activities 90000 310.05 Wonderla Holidays Ltd. Industrial Products Finolex Cables Ltd. 85500 584.35 73.46 3.20 1.94 1.50 1.58 5.09 3.68 3.59 1.06 1.70 1.16 2.02 1.95 2.05 2.01 1.88 1.87 1.23 1.17 2.56 1.65 1.87 1.44 2.71 65000 28800 76500 120000 130000 750000 14500 55000 362.34 264.18 704.79 250.74 765.70 435.00 227.00 540.51 32500 447.79 1301.51 Ratings Lakhs ^ Exposure less than 1% has been clubbed under Other Equities SIP - If you had invested INR 10000 every month 7 Year 10 Year Total Amount Invested () 120,000 Total Value as on May 31, 2018 () 121,819 Returns 2.84% Total Value of B Crisil Hybrid 25+75 - Aggressive Index 124,452 B Crisil Hybrid 25+75 - Aggressive Index 6.98% Total Value of AB CRISIL 10 Yr Gilt Index 117,310 AB CRISIL 10 Yr Gilt Index -4.15% (Inception date 14-Oct-1995) (First Installment date 01-Feb-1996) 360,000 414,151 9.33% 436,114 12.88% 375,588 2.78% 600,000 788,313 10.87% 833,548 13.12% 688,336 5.44% 840,000 1,257,879 11.34% 1,346,791 13.26% 1,038,491 5.97% 1,200,000 2,160,396 11.32% 2,308,228 12.56% 1,627,813 5.94% 1.68 1.22 3.26 1.16 3.55 2.01 1.05 2.50 2.07 6.03 % to V 2,680,000 13,613,552 12.73% 14,003,157 12.93% 5,495,932 5.96% Past performance may or may not be sustained in the future. Returns greater than period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 36-48. *B Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name Yes Bank Ltd. Kotak Mahindra Bank HDFC Bank Ltd. Future Retail Ltd. Reliance Industries Ltd. Maruti Suzuki India Ltd. Finolex Cables Ltd. Max Financial Services Ltd. Raymond Ltd. Container Corporation Of India Ltd. Total Mid Cap Small Cap % of Assets % to V 5.09 3.68 3.59 3.55 3.26 3.20 2.71 2.56 2.50 2.07 32.21 Market Capitalisation wise Exposure (Equity component only) Large Cap 53.24% Market Capitalisation is as per list provided by AMFI. 30.65% 16.11% No. of Shares Lakhs Media & Entertainment Zee Entertainment Enterprises Ltd. Sun Tv Network Ltd. Petroleum Products Reliance Industries Ltd. Power Power Grid Corporation Of India Ltd. Retailing Future Retail Ltd. Future Consumer Ltd. Avenue Supermarts Ltd. Textile Products Raymond Ltd. Transportation Container Corporation Of India Ltd. Other Equities^ Name of the Instrument Debt Instruments Government Securities GOI - 8.28% (21/09/2027) GOI - 8.20% (24/09/2025) GOI - 8.27% (09/06/2020) Non-Convertible Debentures/Bonds 09.25 % Reliance Jio Infocomm Ltd. 09.39 % Rural Electrification Corp. Ltd. 08.87 % Exim 07.90 % India Infradebt Ltd. 08.49 % NHPC Ltd. Privately Placed/Unlisted 08.10 % Sbi Cards & Payment Services Pvt. Ltd. Repo Cash / Net Current Asset Industry Allocation Banks Consumer Non Durables Auto Retailing Petroleum Products Finance Consumer Durables Media & Entertainment Construction Project Industrial Products Textile Products Auto Ancillaries Transportation Gas Hotels, Resorts And Other Recreational Activities Power Cement Software V Movement 140 128 116 104 92 1162.57 505.50 505.09 151.98 2709.00 1013.89 606.11 505.12 483.78 100.10 962.70 962.70 662.51 21355.99 233.91 21589.90 % of Assets 5.38 2.34 2.34 0.70 12.55 4.70 2.81 2.34 2.24 0.46 4.46 4.46 3.07 98.92 1.08 13.23% 10.75% 8.54% 6.61% 4.20% 4.20% 3.97% 2.90% 2.86% 2.71% 2.50% 2.45% 2.07% 1.87% 1.44% 1.16% 1.06% 0.92% 0.00% 5.00% 10.00% 15.00% Tata Young Citizens Fund - Reg CRISIL Hybrid 25+75 Aggressive Index 80 May-15 May-16 May-17 May-18 35

SCHEME PERFORMANCE Lumpsum Performance of Open Ended Schemes Lumpsum Performance of schemes managed by Akhil Mittal Period Tata Dynamic Bond Fund 1.83% 6.39% 7.59% 6.76% Inception date 3-Sep-03 10,183 12,050 14,421 26,246 CRISIL Composite Bond Fund Index* 2.44% 7.36% 7.37% 6.40% 10,244 12,383 14,271 24,974 Crisil 10 Yr Gilt Index # -2.39% 5.51% 5.14% 5.21% 9,761 11,751 12,850 21,162 Managing since 26-Jun-14 Period Tata Treasury Advantage Fund 6.50% 7.62% 8.27% 7.97% Inception date 06-Sep-05 10,650 12,473 14,881 26,557 CRISIL Low Duration Debt Index* 6.52% 7.84% 8.43% 7.60% 10,652 12,550 14,993 25,417 Crisil 1 Yr T-Bill Index # 5.85% 6.73% 6.87% 6.17% 10,585 12,165 13,945 21,443 Managing since 26-Jun-14 Period Tata Income Fund 1.42% 6.11% 6.75% 8.11% Inception date 28-Apr-97 10,142 11,954 13,863 51,812 CRISIL Medium to Long Term Debt Index* 2.69% 7.57% 7.39% 10.36% 10,269 12,455 14,283 80,015 Lumpsum Performance of schemes managed by Amit Somani Crisil 10 Yr Gilt Index # -2.39% 5.51% 5.14% 9,761 11,751 12,850 Managing since 26-Jun-14 Period Tata Young Citizens Fund 7.86% 7.62% 11.84% 12.98% Inception date 14-Oct-95 (Manages debt portfolio) 10,786 12,472 17,502 1,58,687 CRISIL Hybrid 25+75 - Aggressive Index* 10.61% 10.37% 13.74% 11,061 13,455 19,039 Crisil 10 Yr Gilt Index # -2.39% 5.51% 5.14% 9,761 11,751 12,850 Managing since 30-Jul-15 Tata Corporate Bond Fund CRISIL Corporate Bond Composite Index* Crisil 1 Yr T-Bill Index # Tata Money Market Fund Crisil Money Market Index* Crisil 1 Yr T-Bill Index # Period 5.77% 7.07% 7.77% 7.91% Inception date 13-Jul-07 10,577 12,280 14,542 22,907 4.44% 8.12% 8.17% 9.39% 10,444 12,647 14,811 26,586 5.85% 6.73% 6.87% 6.31% 10,585 12,165 13,945 19,468 Managing since 21-May-14 Period 6.84% 7.28% 8.00% 7.35% Inception date 22-May-03 10,684 12,351 14,696 29,059 6.92% 7.39% 8.02% 7.17% 10,692 12,386 14,708 28,333 5.85% 6.73% 6.87% 5.90% 10,585 12,160 13,945 23,684 Managing since 16-Oct-13 Period Tata Liquid Fund Crisil Liquid Fund Index* Crisil 1 Yr T-Bill Index # 6.84% 7.32% 8.07% 7.66% Inception date 01-Sep-04 10,684 12,362 14,746 27,582 6.88% 7.25% 8.03% 7.13% 10,688 12,337 14,714 25,798 5.85% 6.73% 6.87% 6.07% 10,585 12,160 13,945 22,494 Managing since 16-Oct-13 Lumpsum Performance of schemes managed by Gopal Agrawal Tata Large Cap Fund S&P BSE Sensex TRI* Period 7.41% 7.80% 13.89% 20.93% Inception date 07-May-98 10,741 12,536 19,170 4,54,221 15.08% 9.81% 13.88% 12.23% 11,508 13,251 19,163 1,01,481 Managing since 27-Jun-17 Note * Benchmark;# Additional benchmark; Amount in rupees denotes Value of Standard Investment of 10,000. Refer to page number 48 for disclaimer on scheme performance. 36

SCHEME PERFORMANCE Lumpsum Performance of Open Ended Schemes Lumpsum Performance of schemes managed by Murthy Nagarajan Period Tata Equity Savings Fund 3.13% 4.68% 5.86% 7.22% Inception date 27-Apr-00 (Manages debt portfolio) 10,313 11,474 13,297 35,308 Nifty 50 TRI (35%),Nifty 50 Arbitrage Index (30%), Crisil Short Term Bond Fund Index (35%)* 11.12% 8.65% 10.21% 11,112 12,835 16,264 S&P BSE Sensex TRI # 15.08% 9.81% 13.88% 12.78% 11,508 13,251 19,163 88,284 Managing since 01-Apr-17 Period Tata Retirement Savings Fund - Progressive Plan 18.95% 15.67% 20.30% 17.92% Inception date 1-Nov-11 (Manages debt portfolio) 11,895 15,496 25,208 29,608 S&P BSE Sensex TRI* 15.08% 9.81% 13.88% 12.90% 11,508 13,251 19,163 22,224 Managing since 01-Apr-17 Tata Hybrid Equity Fund CRISIL Hybrid 25+75 - Aggressive Index* S&P BSE Sensex TRI # Tata Retirement Savings Fund - Conservative Plan CRISIL Short Term Debt Hybrid 75+25 Fund Index* Crisil 10 Yr Gilt Index # Period 4.71% 6.38% 15.80% 15.86% Inception date 08-Oct-95 (Manages debt portfolio) 10,471 12,045 20,832 2,81,122 10.61% 10.37% 13.74% 11,061 13,455 19,039 15.08% 9.81% 13.88% 11.37% 11,508 13,251 19,163 1,14,743 Managing since 01-Apr-17 Period 6.43% 8.50% 11.01% 10.35% Inception date 1-Nov-11 (Manages debt portfolio) 10,643 12,782 16,860 19,121 7.06% 8.51% 10.16% 10.04% 10,706 12,786 16,228 18,775-2.39% 5.51% 5.14% 7.06% 9,761 11,751 12,850 15,672 Managing since 01-Apr-17 Tata Medium Term Fund CRISIL Medium Term Debt Index* Crisil 10 Yr Gilt Index # Tata Short Term Bond Fund Crisil Short Term Bond Fund Index* Crisil 1 Yr T-Bill Index # Period 3.56% 6.66% 6.99% 6.53% Inception date 11-Nov-02 10,356 12,142 14,020 26,761 4.04% 7.86% 8.35% 10,404 12,556 14,938-2.39% 5.51% 5.14% 5.91% 9,761 11,751 12,850 24,431 Managing since 01-Apr-17 Period 4.47% 6.92% 7.79% 7.69% Inception date 8-Aug-02 10,447 12,231 14,551 32,275 4.90% 7.41% 8.12% 7.08% 10,490 12,400 14,777 29,519 5.85% 6.73% 6.87% 5.94% 10,585 12,165 13,945 24,932 Managing since 01-Apr-17 Tata Retirement Savings Fund - Moderate Plan CRISIL Hybrid 25+75 - Aggressive Index* S&P BSE Sensex TRI # Period 15.54% 12.87% 20.59% 18.24% 11,554 14,393 25,514 30,128 10.61% 10.37% 13.74% 12.92% 11,061 13,455 19,039 22,251 15.08% 9.81% 13.88% 12.90% 11,508 13,251 19,163 22,224 Inception date 1-Nov-11 Managing since 01-Apr-17 (Manages debt portfolio) Lumpsum Performance of schemes managed by Naresh Kumar Tata Gilt Mid Term Fund I-Sec Composite Index* Crisil 10 Yr Gilt Index # Tata Gilt Securities Fund CRISIL Dynamic Gilt Index* Crisil 10 Yr Gilt Index # Period 1.25% 6.24% 7.48% 8.05% Inception date 24-Jun-10 10,125 11,998 14,349 18,486 3.01% 7.50% 7.52% 8.21% 10,301 12,432 14,374 18,705-2.39% 5.51% 5.14% 5.94% 9,761 11,751 12,850 15,811 Managing since 01-Apr-17 Period -1.31% 5.40% 6.46% 8.78% Inception date 6-Sep-99 9,869 11,714 13,680 48,407 0.60% 6.57% 6.41% 8.99% 10,060 12,111 13,647 50,171-2.39% 5.51% 5.14% 9,761 11,751 12,850 Managing since 01-Apr-17 Note * Benchmark; # Additional benchmark; Amount in rupees denotes Value of Standard Investment of 10,000. Refer to page number 48 for disclaimer on scheme performance. 37

SCHEME PERFORMANCE Lumpsum Performance of Open Ended Schemes Lumpsum Performance of schemes managed by Pradeep Gokhale Period Tata Banking And Financial Services Fund $ 17.34% 27.80% Inception date 28-Dec-15 11,734 18,126 Nifty Financial Services TRI* 18.18% 22.15% 11,818 16,243 13.30% 14.83% Nifty 50 TRI # 11,330 13,985 Managing since 28-Dec-15 Period Tata Digital India Fund $ S&P BSE IT TRI* S&P BSE Sensex # 50.81% 14.90% Inception date 28-Dec-15 15,081 14,005 34.47% 10.37% 13,447 12,703 15.08% 14.92% 11,508 14,009 Managing since 28-Dec-15 Period Tata Hybrid Equity Fund 4.71% 6.38% 15.80% 15.86% Inception date 08-Oct-95 (Manages equity portfolio) 10,471 12,045 20,832 2,81,122 CRISIL Hybrid 25+75 - Aggressive Index* 10.61% 10.37% 13.74% 11,061 13,455 19,039 S&P BSE Sensex TRI # 15.08% 9.81% 13.88% 11.37% 11,508 13,251 19,163 1,14,743 Managing since 01-Apr-16 Period 14.98% 6.94% 17.15% 11.87% Inception date 04-Oct-10 Tata Offshore India Sharia Scheme 11,498 12,237 22,070 23,612 Nifty 50 Shariah TRI* Nifty 50 TRI # 11.23% 10.84% 15.45% 9.48% 11,503 14,277 20,986 20,175 13.30% 9.79% 13.78% 8.82% 11,701 13,640 19,286 19,079 Managing since 01-Jan-12 Period Tata Ethical Fund Nifty 500 Shariah TRI* Nifty 50 TRI # 13.38% 6.85% 16.51% 16.36% Inception date 24-May-96 11,338 12,205 21,474 2,81,909 Note $ Pradeep Gokhale is the co-fund manager 13.72% 12.82% 18.56% 11,372 14,373 23,436 Lumpsum Performance of schemes managed by Rupesh Patel 13.30% 9.79% 13.78% 12.29% 11,330 13,246 19,072 1,28,513 Managing since 02-Jan-12 Period Tata Dividend Yield Fund Nifty 500 TRI* Nifty 50 TRI # 5.49% 8.53% 16.27% 16.18% Inception date 22-Nov-04 10,549 12,792 21,257 76,057 13.02% 11.54% 16.07% 15.41% 11,302 13,888 21,078 69,542 13.30% 9.79% 13.78% 15.22% 11,330 13,246 19,072 67,974 Managing since 07-Jun-13 Period 12.29% 13.46% 20.54% 19.75% Inception date 31-Mar-96 Tata India Tax Savings Fund 11,229 14,620 25,459 5,44,591 S&P BSE Sensex TRI* 15.08% 9.81% 13.88% 11.96% 11,508 13,251 19,163 1,22,640 Managing since 01-Apr-15 Period 33.03% 28.17% Inception date 28-Dec-15 Tata India Consumer Fund $ 13,303 18,253 Nifty India Consumption TRI* 18.58% 16.52% 11,858 14,488 13.30% 14.83% Nifty 50 TRI # 11,330 13,985 Managing since 28-Dec-15 Period Tata Infrastructure Fund 5.44% 9.58% 16.46% 13.88% Inception date 31-Dec-04 10,544 13,167 21,434 57,198 S&P BSE India Infrastructure Index TRI* 5.34% 8.36% 15.69% 10,534 12,732 20,732 13.30% 9.79% 13.78% 14.42% Nifty 50 TRI # 11,330 13,246 19,072 60,980 Managing since 01-Jan-14 Period -4.20% -8.36% Inception date 28-Dec-15 Tata India Pharma And Healthcare Fund $ Nifty Pharma TRI* Nifty 50 TRI # 9,580 8,092-8.36% -14.09% 9,164 6,919 13.30% 14.83% Managing since 28-Dec-15 Period Tata Equity Opportunities Fund 7.21% 8.79% 16.91% 12.43% Inception date 25-Feb-93 10,721 12,884 21,849 1,93,426 S&P BSE 500 TRI* S&P BSE Sensex TRI # 13.34% 11.68% 16.24% Note $ Rupesh Patel is the co-fund manager Note * Benchmark;# Additional benchmark; Amount in rupees denotes Value of Standard Investment of 10,000. Refer to page number 48 for disclaimer on scheme performance. 11,330 13,985 11,334 13,941 21,229 15.08% 9.81% 13.88% 11.24% 11,508 13,251 19,163 1,47,584 Managing since 07-Jun-13 38

SCHEME PERFORMANCE Lumpsum Performance of schemes managed by Rupesh Patel (contd.) Tata Mid Cap Growth Fund Nifty Midcap 100 TRI* Nifty 50 TRI # Tata Offshore India Infrastructure Scheme S&P BSE Sensex TRI* Period 8.61% 9.31% 24.07% 12.40% Inception date 01-Jul-94 10,861 13,072 29,418 1,64,093 9.04% 14.09% 20.80% 10,904 14,867 25,738 13.30% 9.79% 13.78% 10.56% 11,330 13,246 19,072 1,10,484 Managing since 27-Jun-17 Period 7.04% 10.99% 18.32% 11.97% Inception date 01-Aug-08 10,704 13,685 23,197 30,405 15.08% 9.81% 13.88% 10.92% 11,900 13,572 19,387 27,512 Managing since 01-Jan-14 Tata Resources & Energy Fund $ Nifty Commodities TRI* Nifty 50 TRI # Tata Offshore India Opportunities Scheme S&P BSE Sensex TRI* Period 2.28% 17.01% Inception date 28-Dec-15 10,228 14,636 7.42% 22.21% 10,742 16,262 13.30% 14.83% 11,330 13,985 Managing since 28-Dec-15 Period 9.15% 9.01% 15.60% 13.75% Inception date 26-Jul-05 10,915 12,964 20,650 52,418 15.08% 9.81% 13.88% 14.43% 11,900 13,572 19,387 54,700 Managing since 01-Apr-16 Note $ Rupesh Patel is the co-fund manager Lumpsum Performance of schemes managed by Sonam Udasi Tata Banking And Financial Services Fund Nifty Financial Services TRI* Nifty 50 TRI # Tata Index Fund - Nifty Plan Nifty 50 TRI* Period 17.34% 27.80% Inception date 28-Dec-15 11,734 18,126 18.18% 22.15% 11,818 16,243 13.30% 14.83% 11,330 13,985 Managing since 01-Apr-16 Period 12.33% 8.73% 12.36% 16.59% Inception date 25-Feb-03 11,233 12,861 17,913 1,04,296 13.30% 9.79% 13.78% 18.05% 11,330 13,246 19,072 1,26,066 Managing since 01-Apr-16 Tata Digital India Fund S&P BSE IT TRI* S&P BSE Sensex TRI # Tata Index Fund - Sensex Plan S&P BSE Sensex TRI* Period 50.81% 14.90% Inception date 28-Dec-15 15,081 14,005 34.47% 10.37% 13,447 12,703 15.08% 14.92% 11,508 14,009 Managing since 01-Apr-16 Period 14.12% 8.71% 12.38% 16.33% Inception date 25-Feb-03 11,412 12,857 17,928 1,00,734 15.08% 9.81% 13.88% 18.04% 11,508 13,251 19,163 1,25,882 Managing since 01-Apr-16 Tata Equity P/E Fund S&P BSE Sensex TRI* Tata India Consumer Fund Nifty India Consumption TRI* Nifty 50 TRI # Period 13.54% 15.45% 24.53% 20.80% Inception date 29-Jun-04 11,354 15,407 29,968 1,38,983 15.08% 9.81% 13.88% 16.64% 11,508 13,251 19,163 85,334 Managing since 01-Apr-16 Period 33.03% 28.17% Inception date 28-Dec-15 13,303 18,253 18.58% 16.52% 11,858 14,488 13.30% 14.83% 11,330 13,985 Managing since 01-Apr-16 Nifty 50 TRI (35%),Nifty 50 Arbitrage Tata Equity Savings Fund Index (30%), Crisil Short Term Bond S&P BSE Sensex TRI # Fund Index (35%)* Tata India Pharma And Healthcare Fund Nifty Pharma TRI* Nifty 50 TRI # Period 3.13% 4.68% 5.86% 7.22% 10,313 11,474 13,297 35,308 11.12% 8.65% 10.21% 11,112 12,835 16,264 15.08% 9.81% 13.88% 12.78% 11,508 13,251 19,163 88,284 Inception date 27-Apr-00 Managing since 01-Apr-16 (Manages equity portfolio) Period -4.20% -8.36% Inception date 28-Dec-15 9,580 8,092-8.36% -14.09% 9,164 6,919 13.30% 14.83% 11,330 13,985 Managing since 01-Apr-16 Note * Benchmark;# Additional benchmark; Amount in rupees denotes Value of Standard Investment of 10,000. Refer to page number 48 for disclaimer on scheme performance. 39

SCHEME PERFORMANCE Lumpsum Performance of schemes managed by Sonam Udasi (contd.) Tata Resources & Energy Fund Nifty Commodities TRI* Nifty 50 TRI # Tata Retirement Savings Fund - Conservative Plan CRISIL Short Term Debt Hybrid 75+25 Fund Index* Crisil 10 Yr Gilt Index # Period 2.28% 17.01% Inception date 28-Dec-15 10,228 14,636 7.42% 22.21% 10,742 16,262 13.30% 14.83% 11,330 13,985 Managing since 01-Apr-16 Period 6.43% 8.50% 11.01% 10.35% Inception date 01-Nov-11 (Manages equity portfolio) 10,643 12,782 16,860 19,121 7.06% 8.51% 10.16% 10.04% 10,706 12,786 16,228 18,775-2.39% 5.51% 5.14% 7.06% 9,761 11,751 12,850 15,672 Managing since 01-Apr-16 Tata Retirement Savings Fund - Moderate Plan CRISIL Hybrid 25+75 - Aggressive Index* S&P BSE Sensex TRI # Tata Young Citizens Fund CRISIL Hybrid 25+75 - Aggressive Index* Crisil 10 Yr Gilt Index # Period 15.54% 12.87% 20.59% 18.24% Inception date 01-Nov-11 Manages equity portfolio 11,554 14,393 25,514 30,128 10.61% 10.37% 13.74% 12.92% 11,061 13,455 19,039 22,251 15.08% 9.81% 13.88% 12.90% 11,508 13,251 19,163 22,224 Managing since 01-Apr-16 Period 7.86% 7.62% 11.84% 12.98% Inception date 14-Oct-95 (Manages equity portfolio) 10,786 12,472 17,502 1,58,687 10.61% 10.37% 13.74% 11,061 13,455 19,039-2.39% 5.51% 5.14% 9,761 11,751 12,850 Managing since 01-Apr-16 Tata Retirement Savings Fund - Progressive Plan S&P BSE Sensex TRI* Period 18.95% 15.67% 20.30% 17.92% Inception date 01-Nov-11 (Manages equity portfolio) 11,895 15,496 25,208 29,608 15.08% 9.81% 13.88% 12.90% 11,508 13,251 19,163 22,224 Managing since 01-Apr-16 Lumpsum Performance of schemes co-managed by Danesh Mistry Tata Mid Cap Growth Fund $ Nifty Midcap 100 TRI* Nifty 50 TRI # Tata Offshore India Opportunities Scheme S&P BSE Sensex TRI* Period 8.61% 9.31% 24.07% 12.40% Inception date 01-Jul-94 10,861 13,072 29,418 1,64,093 9.04% 14.09% 20.80% 10,904 14,867 25,738 13.30% 9.79% 13.78% 10.56% 11,330 13,246 19,072 1,10,484 Managing since 01-Apr-16 Period 9.15% 9.01% 15.60% 13.75% Inception date 26-Jul-05 10,915 12,964 20,650 52,418 15.08% 9.81% 13.88% 14.43% 11,900 13,572 19,387 54,700 Managing since 1-Apr-16 Note $ Danesh Mistry is the assistant fund manager Note * Benchmark;# Additional benchmark; Amount in rupees denotes Value of Standard Investment of 10,000. Refer to page number 48 for disclaimer on scheme performance. 40

SCHEME PERFORMANCE SIP Performance of Open Ended Schemes SIP Performance of schemes managed by Akhil Mittal Tata Dynamic Bond Fund CRISIL Composite Bond Fund Index* Crisil 10 Yr Gilt Index # Tata Treasury Advantage Fund CRISIL Low Duration Debt Index* Crisil 1 Yr T-Bill Index # Period Amt. Invested Period Amt. Invested -0.04% 1,19,972 0.18% 1,20,114-4.21% 1,17,274 6.24% 1,23,974 6.22% 1,23,964 5.70% 1,23,637 4.89% 3,87,726 5.52% 3,91,399 2.76% 3,75,508 7.15% 4,01,036 7.27% 4,01,755 6.23% 3,95,589 6.81% 7,12,337 7.48% 7,24,446 5.44% 6,88,289 7.75% 7,29,327 7.99% 7,33,651 6.84% 7,13,004 17,60,000 Inception date 3-Sep-03 7.25% 30,79,702 7.32% 30,98,401 5.94% 27,74,422 First Installment date 1-Oct-03 Managing since 26-Jun-14 15,20,000 Inception date 6-Sep-05 8.17% 26,12,550 7.91% 25,66,673 6.57% 23,43,174 First Installment date 1-Oct-05 Managing since 26-Jun-14 Tata Income Fund CRISIL Medium to Long Term Debt Index* Crisil 10 Yr Gilt Index # Tata Young Citizens Fund CRISIL Hybrid 25+75 - Aggressive Index* Crisil 10 Yr Gilt Index # Period Amt. Invested Period Amt. Invested -1.08% 1,19,303 0.35% 1,20,227-4.21% 1,17,274 2.84% 1,21,819 6.98% 1,24,451-4.15% 1,17,310 4.39% 3,84,815 5.71% 3,92,534 2.76% 3,75,508 9.33% 4,14,151 12.88% 4,36,114 2.78% 3,75,588 6.30% 7,03,388 7.68% 7,28,052 5.44% 6,88,289 10.87% 7,88,313 13.12% 8,33,547 5.44% 6,88,336 25,00,000 Inception date 28-Apr-97 7.06% 55,44,183 8.92% 69,53,566 6.08% 49,35,517 First Installment date 1-Aug-97 Managing since 26-Jun-14 26,80,000 Inception date 14-Oct-95 12.73% 1,36,13,552 12.93% 1,40,03,151 5.96% 54,95,932 First Installment date 1-Feb-96 Managing since 30-Jul-15 SIP Performance of schemes managed by Amit Somani Tata CRISIL Corporate Bond Crisil 1 Yr T-Bill Tata Crisil Money Corporate Bond Fund Composite Index* Index # Money Market Fund Market Index* Crisil 1 Yr T-Bill Index # Period Amt. Invested Period Amt. Invested 13,00,000 5.14% 6.46% 7.19% 7.80% 1,23,282 3,96,956 7,19,147 20,13,051 2.09% 6.66% 8.18% 8.98% 1,21,338 3,98,128 7,37,232 21,54,404 5.70% 6.23% 6.84% 6.70% 1,23,637 3,95,589 7,13,004 18,90,723 18,00,000 6.98% 7.02% 7.50% 7.78% 1,24,461 4,00,337 7,24,856 33,37,022 6.97% 7.12% 7.61% 7.68% 1,24,454 4,00,876 7,26,958 33,09,333 5.72% 6.24% 6.85% 6.39% 1,23,659 3,95,678 7,13,125 29,75,586 Inception date 13-Jul-07 First Installment date 1-Aug-07 Managing since 21-May-14 Inception date 22-May-03 First Installment date 01-Jun-03 Managing since 16-Oct-13 Period Amt. Invested 16,40,000 Inception date 01-Sep-04 Tata Crisil Liquid Fund Crisil 1 Yr T-Bill Liquid Fund Index* Index# 6.97% 1,24,451 7% 1,24,472 5.72% 1,23,659 7.05% 4,00,501 7.02% 4,00,325 6.24% 3,95,678 7.54% 7,25,622 7.49% 7,24,818 6.85% 7,13,125 7.93% 28,99,825 7.57% 28,21,524 6.50% 26,07,562 First Installment date 01-Oct-04 Managing since 16-Oct-13 SIP Performance of schemes managed by Gopal Agrawal Period Amt. Invested 24,00,000 Inception date 07-May-98 Tata Large Cap Fund S&P BSE Sensex TRI* 2.35% 1,21,509 14.49% 1,29,137 10.21% 4,19,516 15.24% 4,51,137 11.60% 8,02,672 13.21% 8,35,312 18.70% 2,10,40,562 14.46% 1,24,27,152 First Installment date 01-Jun-98 Managing since 27-Jun-17 Note * Benchmark;# Additional benchmark; Amount invested denotes value of standard investment of 10,000 per month. Refer to page number 48 for disclaimer on scheme performance. 41

SCHEME PERFORMANCE SIP Performance of Open Ended Schemes SIP Performance of schemes managed by Danesh Mistry Period Amt. Invested 28,70,000 Inception date 1-Jul-94 Tata Nifty Midcap Mid Cap Growth Fund 100 TRI* Nifty 50 TRI # -1.91% 1,18,764-1.57% 1,18,985 11.35% 1,27,190 11.74% 4,28,966 14.76% 4,48,029 14.60% 4,47,026 18.59% 9,53,108 18.85% 9,59,206 13.21% 8,35,245 17.12% 2,01,06,904 17.35% 2,06,86,945 13.94% 1,36,99,642 First Installment date 1-Jul-94 Managing since 1-Apr-16 SIP Performance of schemes managed by Pradeep Gokhale Tata Banking And Nifty Financial Financial Services Fund Services TRI* Nifty 50 TRI # Tata Ethical Fund Nifty 500 Shariah TRI* Nifty 50 TRI # Period Amt. Invested Period Amt. Invested 2,90,000 13.34% 25.13% 1,28,424 3,88,123 17.60% 25.18% 1,31,052 3,88,340 11.35% 16.23% 1,27,190 3,51,689 26,10,000 6.06% 9.76% 12.35% 18.41% 1,23,868 4,16,780 8,17,860 2,75,37,040 4.81% 15.39% 16.14% 8.74% 1,23,073 4,52,117 8,97,755 74,53,592 11.35% 14.60% 13.21% 14.33% 1,27,190 4,47,026 8,35,245 1,56,92,905 Inception date 28-Dec-15 First Installment date 1-Feb-96 Managing since 28-Dec-15 Inception date 24-May-96 First Installment date 1-Jan-16 Managing since 02-Jan-12 Period Amt. Invested 2,90,000 Inception date 28-Dec-15 Tata Digital India Fund S&P BSE IT TRI* S&P BSE Sensex TRI # 61.57% 28.66% 1,56,728 4,03,103 45.74% 21.31% 1,47,751 3,72,229 14.49% 17.31% 1,29,137 3,56,000 First Installment date 1-Jan-16 Managing since 28-Dec-15 Tata Hybrid Equity Fund CRISIL Hybrid 25+75 - Aggressive Index* S&P BSE Sensex TRI # Period Amt. Invested 26,80,000 1.84% 7.72% 12.06% 17.14% 1,21,181 4,04,430 8,11,992 2,53,85,276 6.98% 12.88% 13.12% 12.93% 1,24,451 4,36,114 8,33,547 1,40,03,151 14.49% 15.24% 13.21% 13.72% 1,29,137 4,51,137 8,35,312 1,56,40,769 Inception date 08-Oct-95 First Installment date 1-Sep-96 Managing since 01-Apr-16 SIP Performance of schemes managed by Naresh Kumar Tata Gilt Mid Term Fund I-Sec Composite Index* Crisil 10 Yr Gilt Index # Tata Gilt Securities Fund CRISIL Dynamic Gilt Index* Crisil 10 Yr Gilt Index # Period Amt. Invested Period Amt. Invested -1.01% 1,19,352 1.08% 1,20,692-4.21% 1,17,274-5.04% 1,16,732-1.14% 1,19,265-4.21% 1,17,274 4.24% 3,83,963 5.58% 3,91,776 2.76% 3,75,508 3.13% 3,77,628 4.47% 3,85,325 2.76% 3,75,508 6.66% 7,09,756 7.62% 7,26,931 5.44% 6,88,289 5.94% 6,97,009 6.85% 7,13,115 5.44% 6,88,289 9,50,000 7.89% 13,06,607 8.23% 13,24,761 6.03% 12,11,491 22,40,000 7.14% 45,78,617 7.67% 48,40,530 6.15% 41,26,443 Inception date 24-Jun-10 First Installment date 1-Jul-10 Managing since 1-Apr-17 Inception date 6-Sep-99 First Installment date 1-Oct-99 Managing since 1-Apr-17 SIP Performance of schemes managed by Murthy Nagarajan Tata Equity Nifty 50 TRI (35%),Nifty 50 Tata Hybrid CRISIL Hybrid 25+75 Arbitrage Index (30%), Crisil Short S&P BSE Sensex TRI Savings Fund # Term Bond Fund Index (35%)* Equity Fund - Aggressive Index* S&P BSE Sensex TRI # Period Amt. Invested Period Amt. Invested 21,70,000 2.55% 5.45% 5.99% 6.59% 1,21,634 3,91,038 6,97,844 40,93,128 11.16% 10.63% 10.05% 4.09% 1,27,068 4,22,099 7,72,322 31,91,689 14.49% 15.24% 13.20% 14.94% 1,29,137 4,51,137 8,35,074 98,85,625 26,80,000 1.84% 7.72% 12.06% 17.14% 1,21,181 4,04,430 8,11,992 2,53,85,276 6.98% 12.88% 13.12% 12.93% 1,24,451 4,36,114 8,33,547 1,40,03,151 14.49% 15.24% 13.21% 13.72% 1,29,137 4,51,137 8,35,312 1,56,40,769 Inception date 27-Apr-00 First Installment date 1-Feb-96 Managing since 01-Apr-17 Inception date 08-Oct-95 First Installment date 1-Jan-03 Managing since 01-Apr-17 Note * Benchmark;# Additional benchmark; Amount invested denotes value of standard investment of 10,000 per month. Refer to page number 48 for disclaimer on scheme performance. 42

SCHEME PERFORMANCE SIP Performance of Open Ended Schemes SIP Performance of schemes managed by Murthy Nagarajan (contd.) Tata Medium Term Fund CRISIL Medium Term Debt Index* Crisil 10 Yr Gilt Index # Tata Retirement Savings Fund - Conservative Plan CRISIL Short Term Debt Hybrid 75+25 Fund Index* Crisil 10 Yr Gilt Index # Period Amt. Invested Period Amt. Invested 18,50,000 1.75% 5.57% 6.88% 6.93% 1,21,120 3,91,734 7,13,683 32,50,570 1.78% 6.35% 8% 8.38% 1,21,141 3,96,291 7,33,869 36,76,506-4.21% 2.76% 5.44% 5.89% 1,17,274 3,75,508 6,88,289 29,76,382 7,80,000 3.39% 8.89% 10.15% 10.34% 1,22,172 4,11,492 7,74,317 10,96,565 5.21% 8.69% 9.46% 9.83% 1,23,323 4,10,260 7,61,161 10,78,238-4.21% 2.76% 5.44% 5.85% 1,17,274 3,75,508 6,88,289 9,45,631 Inception date 11-Nov-02 First Installment date 1-May-00 Managing since 01-Apr-17 Inception date 1-Nov-11 First Installment date 1-Dec-11 Managing since 1-Apr-17 Tata Retirement Savings CRISIL Hybrid 25+75 Fund - Moderate Plan - Aggressive Index* S&P BSE Sensex TRI # Period Amt. Invested 7,80,000 10.40% 17.17% 19.23% 19.10% 1,26,595 4,63,664 9,68,105 14,61,476 6.98% 12.88% 13.12% 13.44% 1,24,451 4,36,114 8,33,547 12,14,257 14.49% 15.24% 13.21% 13.64% 1,29,137 4,51,137 8,35,312 12,22,171 Inception date 01-Nov-11 First Installment date 1-Dec-11 Managing since 01-Apr-17 Tata Short Term Bond Fund Crisil Short Term Bond Fund Index* Crisil 1 Yr T-Bill Index # Period Amt. Invested 18,90,000 3.35% 5.93% 7.11% 7.90% 1,22,142 3,93,840 7,17,680 36,60,291 3.79% 6.42% 7.53% 7.62% 1,22,425 3,96,706 7,25,281 35,72,843 5.70% 6.23% 6.84% 6.33% 1,23,637 3,95,589 7,12,998 31,93,948 Inception date 8-Aug-02 First Installment date 1-Sep-02 Managing since 1-Apr-17 Tata Retirement Savings Fund - Progressive Plan S&P BSE Sensex TRI* Period Amt. Invested 7,80,000 12.33% 20.26% 20.27% 19.42% 1,27,800 4,84,209 9,92,845 14,77,010 14.49% 15.24% 13.21% 13.64% 1,29,137 4,51,137 8,35,312 12,22,171 Inception date 1-Nov-11 First Installment date 1-Dec-11 Managing since 1-Apr-17 SIP Performance of schemes managed by Rupesh Patel Tata Dividend Yield Fund Nifty 500 TRI* Nifty 50 TRI # Tata India Pharma And Healthcare Fund Nifty Pharma TRI* Nifty 50 TRI # Period Amt. Invested Period Amt. Invested 1% 1,20,640 7.91% 1,25,038 11.35% 1,27,190-11.12% 1,12,709-19.06% 1,07,323 11.35% 1,27,190 10.32% 4,20,191 15.40% 4,52,173 14.60% 4,47,026 13.20% 8,35,169 15.22% 8,77,679 13.21% 8,35,245 16,20,000 Inception date 22-Nov-04 14.42% 46,26,033 13.01% 41,55,539 12.39% 39,64,917 First Installment date 1-Dec-04 Managing since 7-Jun-13 2,90,000 Inception date 28-Dec-15-8.79% 2,59,142-16.16% 2,34,620 16.23% 3,51,689 First Installment date 1-Jan-16 Managing since 28-Dec-15 Period Amt. Invested 2,90,000 Inception date 28-Dec-15 Tata India Nifty India Consumer Fund Consumption TRI* Nifty 50 TRI # 23.99% 1,34,936 15.18% 1,29,566 11.35% 1,27,190 32.98% 4,21,831 19.68% 3,65,576 16.23% 3,51,689 First Installment date 01-Jan-16 Managing since 28-Dec-15 Tata India Tax Savings Fund S&P BSE Sensex TRI* Period Amt. Invested 26,30,000 4.27% 15.51% 18.30% 20.09% 1,22,736 4,52,885 9,46,459 3,58,30,195 14.49% 15.24% 13.21% 13.85% 1,29,137 4,51,137 8,35,312 1,50,33,554 Inception date 31-Mar-96 First Installment date 01-Jul-96 Managing since 01-Apr-15 Note * Benchmark;# Additional benchmark; Amount invested denotes value of standard investment of 10,000 per month. Refer to page number 48 for disclaimer on scheme performance. 43

SCHEME PERFORMANCE SIP Performance of schemes managed by Rupesh Patel (contd.) S&P BSE India Tata Infrastructure Fund Infrastructure Index TRI* Nifty 50 TRI # Period Amt. Invested 1-1.33% 11.84% 15.08% 10.40% 1,19,144 4,29,631 8,74,836 33,36,853-4.29% 13.33% 12.86% 7.63% 1,17,221 4,38,944 8,28,056 27,27,279 11.35% 14.60% 13.21% 12.29% 1,27,190 4,47,026 8,35,245 38,40,031 Inception date 31-Dec-04 First Installment date 01-Feb-05 Managing since 01-Jan-14 Period Amt. Invested 28,70,000 Inception date 01-Jul-94 Tata Mid Cap Growth Fund Nifty Midcap 100 TRI* Nifty 50 TRI # -1.91% 1,18,764-1.57% 1,18,985 11.35% 1,27,190 11.74% 4,28,966 14.76% 4,48,029 14.60% 4,47,026 18.59% 9,53,108 18.85% 9,59,206 13.21% 8,35,245 17.12% 2,01,06,904 17.35% 2,06,86,945 13.94% 1,36,99,642 First Installment date 01-Jul-94 Managing since 27-Jun-17 Tata Equity Opportunities Fund S&P BSE 500 TRI* S&P BSE Sensex TRI # Tata Resources & Energy Fund Nifty Commodities TRI* Nifty 50 TRI # Period Amt. Invested Period Amt. Invested 1.47% 1,20,947 8.24% 1,25,244 14.49% 1,29,137-5.19% 1,16,627-3.20% 1,17,925 11.35% 1,27,190 10.38% 4,20,594 15.59% 4,53,384 15.24% 4,51,137 13.59% 8,43,205 15.34% 8,80,368 13.21% 8,35,312 30,30,000 Inception date 25-Feb-93 17.14% 3,66,86,753 14.73% 2,52,08,398 13% 1,92,80,292 First Installment date 01-Mar-93 Managing since 07-Jun-13 2,90,000 Inception date 28-Dec-15 10.11% 3,27,681 15.48% 3,48,682 16.23% 3,51,689 First Installment date 1-Jan-16 Managing since 28-Dec-15 SIP Performance of schemes managed by Sonam Udasi Tata Banking And Financial Services Fund Nifty Financial Services TRI* Nifty 50 TRI # Period Amt. Invested 2,90,000 13.34% 25.13% 1,28,424 3,88,123 17.60% 25.18% 1,31,052 3,88,340 11.35% 16.23% 1,27,190 3,51,689 Inception date 28-Dec-15 First Installment date 01-Jan-16 Managing since 01-Apr-16 Period Amt. Invested 21,70,000 Inception date 27-Apr-00 Tata Equity Nifty 50 TRI (35%),Nifty 50 Savings Fund Arbitrage Index (30%), Crisil Short Term Bond Fund Index (35%)* S&P BSE Sensex TRI # 2.55% 1,21,634 11.16% 1,27,068 14.49% 1,29,137 5.45% 3,91,038 10.63% 4,22,099 15.24% 4,51,137 5.99% 6,97,844 10.05% 7,72,322 13.20% 8,35,074 6.59% 40,93,128 4.09% 31,91,689 14.94% 98,85,625 First Installment date 01-May-00 Managing since 01-Apr-16 Tata Digital India Fund S&P BSE IT TRI* S&P BSE Sensex TRI # Tata Index Fund - Nifty Plan Nifty 50 TRI* Period Amt. Invested Period Amt. Invested 61.57% 1,56,728 45.74% 1,47,751 14.49% 1,29,137 10.52% 1,26,671 11.35% 1,27,190 13.48% 4,39,894 14.60% 4,47,026 11.97% 8,10,052 13.21% 8,35,245 2,90,000 Inception date 28-Dec-15 28.66% 4,03,103 21.31% 3,72,229 17.31% 3,56,000 First Installment date 01-Jan-16 Managing since 01-Apr-16 18,20,000 Inception date 25-Feb-03 12.53% 51,01,564 13.93% 57,62,297 First Installment date 1-Apr-03 Managing since 1-Apr-16 Tata Equity P/E Fund S&P BSE Sensex TRI* Tata Index Fund - Sensex Plan S&P BSE Sensex TRI* Period Amt. Invested Period Amt. Invested 6.45% 1,24,112 14.49% 1,29,137 13.65% 1,28,620 14.49% 1,29,137 19.82% 4,81,229 15.24% 4,51,137 14.15% 4,44,175 15.24% 4,51,137 21.96% 10,34,463 13.21% 8,35,312 11.94% 8,09,495 13.21% 8,35,312 16,70,000 Inception date 29-Jun-04 17.99% 65,71,687 12.84% 43,65,289 First Installment date 1-Jul-04 Managing since 1-Apr-16 18,20,000 Inception date 28-Dec-15 12.13% 49,26,890 13.97% 57,82,989 First Installment date 1-Jan-16 Managing since 1-Apr-16 Note * Benchmark;# Additional benchmark; Amount invested denotes value of standard investment of 10,000 per month. Refer to page number 48 for disclaimer on scheme performance. 44

SCHEME PERFORMANCE SIP Performance of schemes managed by Sonam Udasi (contd.) Period Amt. Invested 2,90,000 Inception date 28-Dec-15 Tata India Consumer Fund Nifty India Consumption TRI* Nifty 50 TRI # 23.99% 1,34,936 15.18% 1,29,566 11.35% 1,27,190 32.98% 4,21,831 19.68% 3,65,576 16.23% 3,51,689 First Installment date 1-Jan-16 Managing since 1-Apr-16 Tata Retirement Savings Fund - Progressive Plan S&P BSE Sensex TRI* Period Amt. Invested 7,80,000 12.33% 20.26% 20.27% 19.42% 1,27,800 4,84,209 9,92,845 14,77,010 14.49% 15.24% 13.21% 13.64% 1,29,137 4,51,137 8,35,312 12,22,171 Inception date 1-Nov-11 First Installment date 1-Dec-11 Managing since 1-Apr-16 Period Amt. Invested 2,90,000 Inception date 28-Dec-15 Tata India Pharma And Healthcare Fund Nifty Pharma TRI* Nifty 50 TRI # -11.12% 1,12,709-19.06% 1,07,323 11.35% 1,27,190-8.79% 2,59,142-16.16% 2,34,620 16.23% 3,51,689 First Installment date 01-Jan-16 Managing since 01-Apr-16 Tata Retirement Savings Fund - Conservative Plan CRISIL Short Term Debt Hybrid 75+25 Fund Index* Crisil 10 Yr Gilt Index # Period Amt. Invested 7,80,000 3.39% 8.89% 10.15% 10.34% 1,22,172 4,11,492 7,74,317 10,96,565 5.21% 8.69% 9.46% 9.83% 1,23,323 4,10,260 7,61,161 10,78,238-4.21% 2.76% 5.44% 5.85% 1,17,274 3,75,508 6,88,289 9,45,631 Inception date 1-Nov-11 First Installment date 1-Dec-11 Managing since 1-Apr-16 Tata Resources & Energy Fund Nifty Commodities TRI* Nifty 50 TRI # Tata Young Citizens Fund CRISIL Hybrid 25+75 - Aggressive Index Crisil 10 Yr Gilt Index # Period Amt. Invested Period Amt. Invested -5.19% 1,16,627-3.20% 1,17,925 11.35% 1,27,190 2.84% 1,21,819 6.98% 1,24,451-4.15% 1,17,310 9.33% 4,14,151 12.88% 4,36,114 2.78% 3,75,588 10.87% 7,88,313 13.12% 8,33,547 5.44% 6,88,336 2,90,000 Inception date 28-Dec-15 10.11% 3,27,681 15.48% 3,48,682 16.23% 3,51,689 First Installment date 01-Jan-16 Managing since 01-Apr-16 26,80,000 Inception date 14-Oct-95 12.73% 1,36,13,552 12.93% 1,40,03,151 5.96% 54,95,932 First Installment date 1-Feb-96 Managing since 1-Apr-16 Tata Retirement Savings CRISIL Hybrid 25+75 Fund - Moderate Plan - Aggressive Index* S&P BSE Sensex TRI # Period Amt. Invested 7,80,000 10.40% 17.17% 19.23% 19.10% 1,26,595 4,63,664 9,68,105 14,61,476 6.98% 12.88% 13.12% 13.44% 1,24,451 4,36,114 8,33,547 12,14,257 14.49% 15.24% 13.21% 13.64% 1,29,137 4,51,137 8,35,312 12,22,171 Inception date 01-Nov-11 First Installment date 01-Dec-11 Managing since 01-Apr-16 Note * Benchmark;# Additional benchmark; Amount invested denotes value of standard investment of 10,000 per month. Refer to page number 48 for disclaimer on scheme performance. 45

SCHEME PERFORMANCE Lumpsum Performance of Close Ended Schemes Lumpsum Performance of schemes managed by Rupesh Patel Tata Infrastructure Tax Saving Fund Nifty 500 TRI* Nifty 50 TRI # Period 4.06% 7.79% 14.13% 10.84% Inception date 30-Mar-09 10,406 12,531 19,374 25,709 13.02% 11.54% 16.07% 18.03% 11,302 13,888 21,078 45,756 13.30% 9.79% 13.78% 16.38% 11,330 13,246 19,072 40,216 Managing since 01-Jan-14 Note * Benchmark;# Additional benchmark; Amount in rupees denotes Value of Standard Investment of 10,000. Refer to page number 48 for disclaimer on scheme performance. 46

SCHEME PERFORMANCE Disclaimer 1) Scheme returns in terms of CAGR are provided for past, s, s and since inception. 2) Point-to-point returns on a standard investment of 10,000/- are in addition to CAGR for the schemes. 3) Different plans shall have a different expense structure. The performance details provided herein are of regular plan. 4 ) stands for schemes in existence for more than but less than s or s, or instances where benchmark data for for corresponding period not available. 5) Period for which schemes performance has been provided is computed basis last day of the month - end preceding the date of advertisement. 6) Past performance may or may not be sustained in future. For computation of since inception returns the allotment V has been taken as 10.00 (Except for Tat Liquid Fund, Tata Treasury Advantage Fund, Tata Corporate Bond Fund & Tata Money Market Fund where V is taken as 1,000). *All payouts during the period have been reinvested in the units of the scheme at the then prevailing V. Load is not considered for computation of returns. While calculating returns dividend distribution tax is excluded. Schemes in existence for less than, performance details for the same are not provided. Mutual Fund Investments are subject to market risks, read all Scheme related documents carefully. 7) For Benchmark Indices Calculations, Total Return Index(TRI) has been used. Where ever TRI not available Composite CAGR has been disclosed.please refer Disclaimer sheet for composite CAGR disclosure. - data are not available for the period Scheme Name Index Name Tata Equity Opportunities Fund - Reg - Growth S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 25-Feb-1993 to date 31-May-2007 and TRI values since date 31-May-2007 Tata Hybrid Equity Fund - Reg - Growth (Earlier known as Tata Balanced Fund) S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 06-Oct-1995 to date 31-May-2007 and TRI values since date 31-May-2007 Tata Large Cap Fund - Reg - Growth S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 06-May-1998 to date 31-May-2007 and TRI values since date 31-May-2007 Tata Equity Savings Fund - Reg - Mthly Dividend (Earlier known as Tata Savings Equity Fund) S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 27-Apr-2000 to date 31-May-2007 and TRI values since date 31-May-2007 Tata Ethical Fund - Reg - Growth Nifty 50 TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of Nifty 50 PRI values from date 24-May-1996 to date 30-Jun-1999 and TRI values since date 30-Jun-1999 Tata India Tax Savings Fund - Reg - Dividend S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 29-Mar-1996 to date 31-May-2007 and TRI values since date 31-May-2007 Tata Index Fund - Sensex Plan - Reg S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 25-Feb-2003 to date 31-May-2007 and TRI values since date 31-May-2007 Tata Mid Cap Growth Fund - Reg - Dividend Nifty 50 TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of Nifty 50 PRI values from date 01-Jul-1994 to date 30-Jun-1999 and TRI values since date 30-Jun-1999 Tata Equity P/E Fund - Reg - Growth S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 29-Jun-2004 to date 31-May-2007 and TRI values since date 31-May-2007 Tata Offshore India Opportunities Scheme S&P BSE Sensex TRI As TRI data is not available since of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date 26-Jul-2005 to date 31-May-2007 and TRI values since date 31-May-2007 47

SCHEME PERFORMANCE Past performance may or may not be sustained in future. After payment of dividend the V will fall to the extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-). Pursuant to allotment of bonus units, the V of the scheme would fall in proportion to the bonus units allotted & as a result the total value of units held by investor would remain the same. The Std. Dev., Sharpe Ratio, Jensen s Alpha,, & R-squared are based on one month return calculated using last s data. Price/Earning Ratio, Price/Book Value Ratio, are based on the historical earnings and accounting numbers, and have been computed only for the invested portion of the portfolio. Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales to the average net assets in the past one year (For schemes that have not completed one year, since inception is considered) Cash & Cash Equivalents includes CBLO, REPO, Fixed Deposits and Cash & Bank Balance. $-ICRA s mutual fund rating methodology is based on evaluating the inherent credit quality of the fund s portfolio. As a measure of the credit quality of a debt fund s assets. ICRA uses the concept of credit scores. These scores are based on ICRA s estimates of credit risk associated with each exposure of the portfolio taking into account its maturity. To quantify the credit risk scores, ICRA uses its database of historical default rates for various rating categories for various maturity buckets. The credit risk ratings incorporate ICRA s assessment of a debt fund s published investment objectives and policies, its management characteristics, and the creditworthiness of its investment portfolio. ICRA reviews relevant fund information on an ongoing basis to support its published rating opinions. If the portfolio credit score meets the benchmark of the assigned rating during the review, the rating is retained. In an event that the benchmark credit score is breached, ICRA gives a month s time to the debt fund manager to bring the portfolio credit score within the benchmark credit score. If the debt fund manager is able to reduce the portfolio credit score within the benchmark credit score, the rating is retained. If the portfolio still continues to breach the benchmark credit score, the rating is revised to reflect the change in credit quality. 48

DIVIDEND / BONUS HISTORY Tata Equity P/E Fund (Before 30th September 2009) Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 23-09-2004 0.50 11.4449 25-03-2008 0.50 31.1969 Reg. Reg. V V (After Split under Dividend Option w.e.f. 1st Oct. 2009 - Dividend Trigger Option A (5%)) 26-11-2009 1.80 39.8535 15-01-2010 1.50 41.2148 27-08-2010 1.50 41.0426 03-09-2010 40.4276 11-10-2010 1.75 43.0925 10-01-2011 1.75 38.1627 13-04-2011 1.50 36.9789 11-07-2011 1.50 34.3724 08-11-2011 1.25 30.7136 20-01-2012 27.9373 16-04-2012 29.1452 11-07-2012 27.3998 12-10-2012 0.40 28.6604 11-01-2013 0.50 29.9969 0.50 30.0014 28-05-2013 0.50 27.0385 0.50 27.0932 30-09-2013 0.25 24.9834 0.25 25.1002 24-10-2013 0.32 26.5125 0.32 26.6491 10-01-2014 0.35 27.7315 0.35 27.9225 09-04-2014 11-07-2014 16-10-2014 12-01-2015 17-04-2015 11-07-2016 17-08-2016 14-10-2016 03-11-2016 08-02-2017 15-02-2017 13-04-2017 21-07-2017 17-10-2017 18-01-2018 0.35 0.40 0.50 0.50 0.60 0.60 2.42 1.10 1.20 1.20 1.25 1.35 31.1352 38.2980 40.4649 46.1162 47.3644 48.8502 53.5858 53.2023 57.4249 59.3215 62.4451 63.2670 0.35 0.40 0.50 0.50 0.60 0.60 2.50 1.05 1.06 1.20 1.20 1.25 1.35 31.4055 38.2980 40.9834 46.7900 48.1532 50.0432 52.7728 52.1309 54.3130 57.9403 60.0022 63.3163 64.3214 (After Split under Dividend Option w.e.f. 1st Oct. 2009 - Dividend Trigger Option B (10%)) 15-01-2010 3.00 43.1703 27-08-2010 1.50 41.5023 11-10-2010 3.50 44.6825 13-04-2011 3.00 38.5898 02-02-2012 2.25 32.1223 16-04-2012 2.00 30.795 30-08-2012 28.1294 12-10-2012 0.80 29.3619 28-01-2013 0.80 30.1694 0.80 30.1773 09-04-2014 0.75 32.8529 0.75 33.1223 29-05-2014 11-07-2014 20-10-2014 12-01-2015 01-08-2016 13-02-2017 01-05-2017 07-11-2017 0.80 0.95 0.95 4.75 3.05 1.10 1.20 37.3611 39.0904 41.1091 46.6071 51.1904 51.8642 54.5858* 58.7785 0.80 0.95 0.95 4.60 3.05 1.10 1.20 37.7099 39.4969 41.6410 45.9176 52.3714 53.5812 56.6123* 61.3106 Tata Dividend Yield Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 07-02-2005 0.40 11.0776 20-12-2005 14.2886 21-07-2006 11.9191 14-12-2007 23.8872 03-07-2009 1.50 16.2605 23-07-2010 2.00 22.4296 31-12-2010 1.50 22.8224 18-03-2011 18.8054 27-07-2011 19.9549 09-03-2012 18.6141 31-01-2013 27-02-2015 22-01-2016 03-02-2017 2.25 2.25 19.4567 29.1279 24.4357 29.3782 2.25 1.50 19.4666 29.5709 24.9806 30.2670 Tata Large Cap Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 15-06-1999 1.60 14.3931 30-12-1999 10.00 24.813 19-07-2000 2.00 14.2437 30-09-2003 2.50 16.1903 03-12-2003 1.50 17.5102 07-01-2004 2.00 17.7633 25-03-2004 1.50 15.1738 02-12-2004 2.00 17.3620 27-04-2005 1.50 16.7626 17-01-2006 21.9085 01-06-2007 3.00 31.5816 17-04-2009 2.00 22.9656 09-07-2010 2.00 38.2936 02-03-2012 2.50 35.7849 22-02-2013 3.00 37.1119 3.00 37.1342 27-01-2014 19-01-2015 18-03-2016 17-02-2017 16-02-2018 2.00 4.00 3.35 3.70 4.00 36.7714 49.5911 42.6650 46.0863 49.3188 2.00 4.00 2.15 4.00 4.00 37.0296 50.2921 44.1396 49.9536 54.3209 *as on 28 April, 2017 Past performance may or may not be sustained in future. After payment of dividend the V will fall to the extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-). Pursuant to allotment of bonus units, the V of the scheme would fall in proportion to the bonus units allotted & as a result the total value of units held by investor would remain the same. 49

DIVIDEND / BONUS HISTORY Tata India Tax Savings Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 15-06-1999 2.00 16.891 14-01-2000 2.00 41.492 10-12-2003 23.977 20-10-2005 10.10 40.1923 14-12-2007 3.00 63.7228 04-09-2009 3.00 44.4002 22-01-2010 5.00 46.981 23-12-2011 2.00 41.0711 08-02-2012 1.50 43.2445 03-12-2012 1.50 47.4439 23-12-2013 19-12-2014 06-02-2015 26-02-2016 17-03-2017 21-03-2018 2.00 2.75 2.85 9.00 9.00 10.00 48.7181 68.6750 70.7073 61.8351 72.3858 73.9612 2.00 2.00 9.00 7.50 48.9612 69.0096 92.8200 99.0550 Bonus History Bonus Units in March 2000 0101 Tata Ethical Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 09-08-1999 13.3985 07-03-2000 2.50 29.7093 23-01-2004 1.50 16.6602 17-11-2006 2.50 41.8432 20-07-2007 2.00 49.3941 21-09-2007 4.00 49.7288 31-07-2009 2.00 36.707 22-10-2010 5.00 50.5873 26-04-2012 2.00 40.1006 07-12-2012 44.877 21-03-2014 05-12-2014 30-12-2015 29-12-2017 3.00 5.50 4.75 6.35 52.6136 68.5591 66.8382 80.2547 3.00 104.1549 Bonus History Bonus Units in March 2000 0102 Tata Hybrid Equity Fund (Earlier known as Tata Balanced Fund) Dividend Option Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 15-07-1999 1.25 12.9027 03-04-2000 2.50 20.0062 09-09-2003 1.25 19.0084 11-03-2004 1.50 22.6691 12-01-2005 3.00 24.7554 01-12-2006 4.00 40.5078 Reg. Reg. V V 13-07-2007 2.00 42.7533 07-12-2007 52.4219 24-04-2009 32.5227 19-03-2010 3.00 50.937 15-02-2012 3.00 53.6877 05-03-2013 5.50 56.8898 5.50 56.9342 21-03-2014 13-02-2015 08-03-2016 10-02-2017 09-02-2018 3.25 8.60 5.75 6.30 6.75 58.7461 87.0819 67.0250 79.1022 80.7616 3.25 8.60 5.75 6.30 6.75 59.2767 88.3172 68.4819 81.3161 84.3211 Tata Hybrid Equity Fund Monthly Dividend Option Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 13-08-2010 0.1000 51.3412 Reg. Reg. V V 13-09-2010 0.5173 53.1638 08-10-2010 0.5329 53.9529 12-11-2010 0.5482 54.0193 10-12-2010 0.5300 50.8391 14-01-2011 0.5135 49.1985 11-02-2011 0.4804 46.2226 11-03-2011 0.4697 46.6244 08-04-2011 0.4835 48.8005 13-05-2011 0.4705 47.9953 10-06-2011 0.4770 47.4998 08-07-2011 0.4795 48.1593 12-08-2011 0.8000 45.5027 09-09-2011 0.8000 44.5255 14-10-2011 0.2500 43.641 11-11-2011 0.3000 43.7191 09-12-2011 0.3000 41.6013 13-01-2012 0.3000 41.4199 10-02-2012 0.3000 44.1551 09-03-2012 0.3000 44.3462 13-04-2012 0.3000 43.9782 11-05-2012 0.3000 42.2765 08-06-2012 0.3000 42.6831 13-07-2012 0.3000 44.1681 10-08-2012 0.3000 44.5514 14-09-2012 0.3000 45.7662 12-10-2012 0.3500 46.8467 09-11-2012 0.3500 46.6436 14-12-2012 0.3500 47.8167 14-01-2013 0.3500 48.4127 0.3500 48.4404 08-02-2013 0.3500 46.4548 0.3500 46.4936 05-03-2013 0.3500 45.3818 0.3500 45.4322 03-04-2013 0.3500 44.7321 0.3500 44.7321 03-05-2013 0.3500 45.7388 0.3500 45.8346 05-06-2013 0.3500 46.1426 0.3500 46.2644 03-07-2013 0.3500 44.5114 0.3500 44.6494 05-08-2013 0.3500 42.8851 0.3500 43.0735 04-09-2013 0.2500 41.9112 0.2500 42.1607 03-10-2013 0.2500 44.5623 0.2500 44.8567 05-11-2013 0.2300 46.0275 0.2300 46.3088 04-12-2013 06-01-2014 0.2000 0.2500 45.7847 47.1149 0.2000 0.2500 46.0823 47.5278 05-02-2014 05-03-2014 03-04-2014 05-05-2014 04-06-2014 03-07-2014 05-08-2014 03-09-2014 30-09-2014 03-11-2014 03-12-2014 05-01-2015 04-02-2015 03-03-2015 01-04-2015 05-05-2015 03-06-2015 03-07-2015 05-08-2015 03-09-2015 01-10-2015 03-11-2015 09-12-2015 0.2000 45.4166 0.2000 45.8404 0.2000 47.378 0.2000 47.8459 0.2500 49.2444 0.2500 49.7425 0.2500 49.7024 0.2500 50.2374 0.3000 0.3000 0.3000 0.3500 0.3000 0.3000 0.3000 0.3000 0.3000 0.4700 0.4800 0.4600 0.4600 0.4500 0.4600 0.4600 0.4400 0.4500 0.4300 55.8113 59.4105 58.7937 61.4845 61.7928 63.5735 66.8698 67.0058 69.8159 72.6460 71.5057 68.9951 67.6390 69.1757 70.7089 66.6045 67.1021 66.6877 64.1480 0.3000 0.3000 0.3000 0.3500 0.3000 0.3000 0.3000 0.3000 0.3000 0.4700 0.4800 0.4600 0.4600 0.4500 0.4600 0.4600 0.4400 0.4500 0.4300 56.4367 60.1184 59.5357 62.2848 62.6254 64.4604 67.8294 68.0013 70.8848 73.7830 72.6615 70.1440 68.7928 70.4013 71.9936 67.8400 68.3604 67.9696 65.4071 Past performance may or may not be sustained in future. After payment of dividend the V will fall to the extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-). Pursuant to allotment of bonus units, the V of the scheme would fall in proportion to the bonus units allotted & as a result the total value of units held by investor would remain the same. 50

04-01-2016 03-02-2016 01-03-2016 04-04-2016 03-05-2016 02-06-2016 04-07-2016 04-08-2016 01-09-2016 07-10-2016 03-11-2016 09-12-2016 06-01-2017 07-02-2017 10-03-2017 17-04-2017 05-05-2017 02-06-2017 07-07-2017 04-08-2017 08-09-2017 06-10-2017 03-11-2017 30-11-2017 10-01-2018 05-02-2018 05-03-2018 03-04-2018 04-05-2018 0.4100 0.3900 0.3900 0.4100 0.4200 0.4200 0.4000 0.4200 0.4400 0.4900 0.4900 0.4600 0.4500 0.4700 0.4700 0.4600 0.4600 0.4600 0.4600 0.4700 0.4600 0.4500 0.4600 0.4600 0.7000 0.7200 0.6700 0.6400 0.6700 Tata Infrastructure Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 07-07-2005 0.45 11.423 10-11-2006 1.50 22.04 09-03-2007 2.00 19.0546 14-09-2007 2.00 24.0726 11-03-2008 24.6787 25-09-2009 30.9984 23-03-2010 09-03-2015 11-03-2016 03-03-2017 23-02-2018 0.60 2.30 1.75 2.25 2.50 22.2871 29.9675 22.9937 27.2949 30.6214 1.75 2.50 2.50 25.2637 30.3821 34.2323 Monthly Dividend Option Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 65.5624 61.7757 59.3893 62.7495 62.8585 64.4614 65.9106 67.8544 68.9401 69.3143 67.3652 64.8291 64.1027 66.8985 65.9414 68.3471 68.7184 68.8286 68.7959 69.8856 68.7454 68.2107 69.9242 68.5023 70.5427 68.4496 66.0995 65.6746 66.0538 Tata Equity Opportunities Fund (Data provided since 2005) DIVIDEND / BONUS HISTORY Reg. Reg. V V 0.4100 0.3900 0.3900 0.4100 0.4200 0.4200 0.4000 0.4200 0.4400 0.4900 0.4900 0.4600 0.4500 0.4700 0.4700 0.4600 0.4600 0.4600 0.4600 0.4700 0.4600 0.4500 0.4600 0.4600 0.7000 0.7200 0.6700 0.6400 0.6700 Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 66.8673 63.0275 60.6055 64.0581 64.1921 65.8509 67.3557 69.3683 70.5262 70.9900 69.0592 66.5375 65.8538 68.7978 67.8836 70.4418 70.8731 71.0544 71.1174 72.3444 71.2871 70.8291 72.7107 71.3286 73.5976 71.5271 69.1923 68.8730 69.3950 Reg. Reg. V V 11-05-2005 15.8183 29-11-2005 20.135 20-03-2006 5.00 25.2299 12-04-2006 21.129 05-05-2006 21.4375 29-06-2007 23.3049 30-11-2007 31.1517 26-06-2009 1.50 18.9974 26-03-2010 2.00 24.1747 22-06-2010 0.50 22.0757 30-09-2010 23.9899 31-12-2010 0.50 22.491 23-03-2012 19.9545 07-03-2014 30-01-2015 12-02-2016 20-01-2017 15-12-2017 13-03-2018 1.20 2.75 2.35 2.50 1.40 1.40 24.0588 34.9030 27.7400 31.4974 35.3947 33.3738 1.20 2.75 1.40 1.40 24.2062 35.4231 44.3907 42.3425 Tata Mid Cap Growth Fund (Earlier Tata Growth Fund) Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 16-09-2004 0.80 13.9211 25-08-2006 2.00 24.5465 23-03-2007 10.00 26.731 16-11-2007 2.00 25.2763 21-12-2007 3.00 23.5461 14-05-2010 2.00 18.4055 28-11-2013 21-11-2014 30-12-2015 21-12-2017 Reg. Reg. V V Past performance may or may not be sustained in future. After payment of dividend the V will fall to the extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-). Pursuant to allotment of bonus units, the V of the scheme would fall in proportion to the bonus units allotted & as a result the total value of units held by investor would remain the same. 2.75 2.50 3.80 19.358 34.7881 36.3854 49.1872 Tata Equity Savings Fund (Data provided since 2008) (Earlier known as Tata Savings Equity Fund) Monthly Dividend Option 0.25 3.80 Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 16-01-2008 0.0468 12.1955 14-02-2008 0.0452 11.9962 17-03-2008 0.0499 11.873 15-04-2008 0.0452 11.8911 15-05-2008 0.0468 11.9193 16-06-2008 0.0499 11.7853 18-08-2008 0.0515 11.6523 15-09-2008 0.0336 11.6441 14-10-2008 0.0348 11.4095 29-10-2008 0.0187 11.2901 14-11-2008 0.0230 11.3999 15-12-2008 0.0595 12.004 15-01-2009 0.0595 12.0284 16-02-2009 0.0384 11.8638 16-03-2009 0.0336 11.924 15-04-2009 0.0432 12.3101 14-05-2009 0.0418 12.2781 15-06-2009 0.0614 12.4446 16-07-2009 0.0447 12.4387 14-08-2009 0.0557 12.3974 15-09-2009 0.0614 12.4156 14-10-2009 0.0418 12.3478 16-11-2009 0.0475 12.4267 15-12-2009 0.0418 12.396 15-01-2010 0.0447 12.4878 15-02-2010 0.0447 12.3171 15-03-2010 0.0403 12.2809 15-04-2010 0.0448 12.3349 14-05-2010 0.0419 12.3266 15-06-2010 0.0462 12.3229 15-07-2010 0.0505 12.3348 16-08-2010 0.0462 12.272 15-09-2010 0.0433 12.3329 14-10-2010 0.0419 12.305 15-11-2010 0.0400 12.3094 15-12-2010 0.0433 12.1697 17-01-2011 0.0400 12.1335 15-02-2011 0.0419 12.0581 15-03-2011 0.0337 11.996 15-04-2011 0.0598 12.1026 16-05-2011 0.0449 11.9725 19.4794 40.4505 59.1371 Reg. Reg. V V 51

DIVIDEND / BONUS HISTORY Monthly Dividend Option Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 16-06-2011 0.0434 11.913 15-07-2011 0.0434 12.0924 16-08-2011 0.0463 12.0332 15-09-2011 0.058 12.0023 17-10-2011 0.0463 11.9024 15-11-2011 0.042 11.8737 15-12-2011 0.0434 11.9700 16-01-2012 0.0463 12.0356 15-02-2012 0.0434 12.2860 15-03-2012 0.042 12.1817 16-04-2012 0.0463 12.2263 15-05-2012 0.042 12.1879 15-06-2012 0.0449 12.2437 16-07-2012 0.0449 12.3192 16-08-2012 0.0449 12.398 17-09-2012 0.0463 12.5021 15-10-2012 0.0405 12.6204 15-11-2012 0.0449 12.6205 17-12-2012 0.0463 12.7493 15-01-2013 0.056 12.9512 14-02-2013 0.058 12.8569 14-03-2013 0.0541 12.8211 15-04-2013 0.0523 12.8013 15-05-2013 0.0576 13.1695 14-06-2013 0.0513 13.0571 15-07-2013 0.0529 12.9694 16-08-2013 0.0546 12.4066 16-09-2013 0.0529 12.5641 15-10-2013 0.0496 12.7097 15-01-2014 0.0513 12.7377 13-02-2014 0.0496 12.5511 12-03-2014 0.0461 12.6694 15-04-2014 0.0581 12.6933 15-05-2014 0.0513 12.8391 12-06-2014 15-07-2014 12-08-2014 15-09-2014 16-10-2014 13-11-2014 14-01-2015 12-02-2015 12-03-2015 15-04-2015 14-05-2015 12-06-2015 15-07-2015 07-10-2016 03-11-2016 09-12-2016 06-01-2017 07-02-2017 10-03-2017 17-04-2017 05-05-2017 02-06-2017 07-07-2017 04-08-2017 08-09-2017 06-10-2017 03-11-2017 30-11-2017 10-01-2018 05-02-2018 05-03-2018 03-04-2018 04-05-2018 0.0478 0.0563 0.0478 0.0581 0.0509 0.0446 0.0478 0.0462 0.0446 0.0541 0.0459 0.0459 0.0522 0.1000 0.1000 0.1000 0.1000 0.1000 0.1000 0.0750 0.0750 0.0750 0.0850 0.0850 0.0850 0.0850 0.0850 0.0850 0.0850 0.0900 0.0900 0.0820 0.0830 13.1413 13.0827 13.0602 13.2548 13.2927 13.5226 13.8422 14.0271 14.0421 14.0413 13.8441 13.6730 13.8253 14.7280 14.6112 14.4908 14.4300 14.5621 14.4716 14.6259 14.6477 14.6018 14.6006 14.5814 14.5536 14.4847 14.4358 14.3780 14.4092 14.2273 14.1182 14.0956 14.0964 Reg. Reg. V V 0.0478 0.0563 0.0478 0.0581 0.0509 0.0446 0.0478 0.0462 0.0446 0.0541 0.0459 0.0459 0.0522 0.1000 0.1000 0.1000 0.1000 0.1000 0.1000 0.0750 0.0850 0.0850 0.0850 0.0850 0.0900 0.0820 0.0830 13.1430 13.094 13.0792 13.2813 13.3304 13.5704 13.9058 14.1014 14.1261 14.1222 13.9343 13.7673 13.9281 15.0323 14.9320 14.8278 14.7802 14.9321 14.8550 15.1806 15.1960 15.1935 15.1839 15.1268 15.1689 15.1679 15.1890 Date of Declaration of dividend 16-12-2016 17-03-2017 15-06-2017 Quarterly Dividend Option Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 0.3000 0.3000 0.2200 14.6630 14.7763 14.8165 0.3000 0.3000 0.2200 15.4058 15.5741 15.6701 Tata Banking & Financial Services Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 19-01-2018 1.40 17.5941 Tata India Consumer Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 19-01-2018 1.45 18.0181 Tata Resources & Energy Fund Date of Declaration of dividend Dividend p.u. (`) on Face Value of ` 10 Reg. Reg. V V 19-01-2018 1.30 16.0031 Tata Young Citizens Fund Bonus History Bonus Units in March 1999 0103 Bonus Units in March 2000 0102 Bonus Units in Nov 2003 0104 Bonus Units in Nov 2007 0102 Bonus Units in Nov 2010 0103 Bonus Units in Nov 2011 0105 Past performance may or may not be sustained in future. After payment of dividend the V will fall to the extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-). Pursuant to allotment of bonus units, the V of the scheme would fall in proportion to the bonus units allotted & as a result the total value of units held by investor would remain the same. 52

HOW TO READ A FACT SHEET SCHEDULE 3 Fund Manager An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount This is the minimum investment amount for an existing investor in a mutual fund scheme. Yield to Maturity The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current market price, par value, coupon interest rate and time to maturity. SIP SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years. V The V or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The V is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. Benchmark A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. Entry Load A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing V at the time of investment. For instance, if the V is 100 and the entry load is 1%, the investor will enter the fund at Rs 101. Exit Load Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is reduced from the prevailing V at the time of redemption The investor will receive redemption proceeds at net value of V less Exit Load. For instance, if the V is Rs 100 and the exit load is 1%, the investor will receive Rs 99. Modified Duration Modified duration is the price sensitivity and the percentage change in price for a unit change in yield. Standard Deviation Standard deviation is a statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharpe Ratio The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of Scheme The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories. Rating Profile Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds. R-Squared R-squared measures the relationship between a portfolio and its benchmark. It is simply a measure of the correlation of the portfolio s returns to the benchmark s returns. Ratio Ratio is a measurement of efficiency utilizing the relationship between annualized risk-adjusted return and risk. Unlike Sharpe Ratio, Ratio utilizes market risk (beta) instead of tatal risk (standard deviation). Jensen Alpha A measure of the difference between a fund s actual returns and its expected performance, given its level of risk as measured by beta. Jensen s Alpha is equivalent to the alpha derived from regressing the same or portfolio s returns in excess of the risk free rate against the market return in excess of the risk free rate. 53