Pension Portfolio Three Pension PDF Factsheet

1 Factsheet . 30 November 2021. Pension Fund Scottish Widows Pension Portfolio Three Pension (Series 2). This document is provided for the purpose of Fund Aim information only. This Factsheet is intended for individuals who are familiar with investment The Fund aims to deliver long-term growth by investing in other funds. The Fund invests terminology. Please contact your financial primarily in equities including a small proportion in listed property securities, with a proportion in adviser if you need an explanation of the terms fixed interest securities, by investing predominately in passive* index tracking funds. A small used. This material should not be relied upon proportion may be actively managed. The equity investments cover a mix of geographic regions as sufficient information to support an and can include the UK, other developed markets and emerging markets. The fixed interest investment decision.

2 The Portfolio data on this Factsheet is updated on a quarterly basis. securities can be in sterling or other currencies, including emerging markets, and may be issued by governments or companies. The property securities can be in the UK and overseas. The Fund may also invest a small proportion in cash. Non-sterling investment may be hedged back to Information Statement sterling. Hedging aims to reduce the effect of fluctuations in the exchange rates between the currency of the asset and the currency of the Fund will be reviewed periodically by A portion of the equities allocation is invested in a climate transition fund to take account of Scottish Widows. In future the Fund could be invested in different funds and additional asset environmental, social and governance (ESG). types, though the Fund will continue to invest primarily in equities. *Passive management is considerations. The allocation also includes where the fund manager aims to match a benchmark index and will buy, sell or hold investments Real Estate Investment Trusts to gain depending on the components of that index .

3 Active management is where the fund manager exposure to property. Funds with an allocation seeks to add value by making decisions on which investments to buy, sell or hold depending on, to global fixed interest now benefit from for example company, market or economic factors. diversification through a small allocation to emerging market Government Debt. Asset Allocation (as at 30/09/2021) Due to the update scheduling of the CPI. benchmark, Monthly Factsheets will illustrate US Equities the latest CPI Performance as at the point of International Equities production ( with a one month lag). Quarter Global Fixed Interest End Factsheets however will be synchronised with the latest quarter end CPI Performance. UK Equities Other Basic Fund Information Property Shares Series 2 Unit Launch 06/02/2006. UK Fixed Interest Date Fund Size 10, Japanese Equities Benchmark UK Consumer Price Money market index + American emerging Fixed Interest ISIN GB00B09CD306.

4 MEX ID SWYLE2. The composition of asset mix and asset allocation may change at any time and exclude cash SEDOL B09CD30. unless otherwise stated Manager Name Philip Chandler Manager Since 07/02/2020. Top Ten Holdings (as at 30/09/2021). BLACKROCK ACS US EQTY TRACKER. BLACKROCK ACS UK equity TKR ABERDEEN GLOBAL CREDIT FUND SCOTTISH WIDOWS CORPORATE BOND TRACKER FUND. SSGA AUT EUROPE EX UK equity TRACKER FUND. ACS CLIMATE TRANSITION WORLD equity FUND. SSGA MPF emerging MARKETS index . ishares GLOBAL PROPERTY SECURITIES. SSGA AUT ASIA PACIFIC EX-JAPAN equity TKR. ishares emerging MARKETS GOVER NPV. TOTAL Page 1. Past Performance Fund Rating Information 60% Overall Morningstar - Rating Morningstar Analyst - Rating 40% FE fundinfo Crown Rating The FE fundinfo Crown Rating relates to this 20% fund. However, the Morningstar ratings are based on the underlying fund. These are supplied by the respective independent ratings agencies and are the latest available at the 0% time this Factsheet was issued.

5 Past Dec 16 Mar 18 Jun 19 Sep 20 Nov 21 performance is not a reliable indicator of future 30/11/2016 - 29/10/2021 Powered by data from FE fundinfo results. Pension Portfolio Three Pension Other Information UK Consumer Price index + The views, opinions and forecasts expressed in this document are those of the fund The Performance of the Pension Portfolio Fund Three is shown relative to the UK Consumer Prices manager. Investment markets and conditions index plus CPI is a standard measure of price inflation in the UK. This aims to help can change rapidly and as such the views customers see how their Pension pot is performing compared to changes in the cost of living over expressed should not be taken as statement of time. fact, nor should reliance be placed on these Past performance is not a guide to future performance. Investment value and income from it may views when making investment decisions.

6 Fall as well as rise, as a result of market and currency movements. You may not get back the amount originally invested. Scottish Widows 69 Morrison Street Discrete Performance Edinburgh EH3 1HL. 30/09/2020 - 30/09/2019 - 30/09/2018 - 30/09/2017 - 30/09/2016 - 30/09/2021 30/09/2020 30/09/2019 30/09/2018 30/09/2017 Not all products have access to this fund, Scottish Widows please refer to the relevant product literature. Pension Portfolio Three Full terms and conditions are available on Pension (Series 2) request from us using the contact details provided. Charges, terms and the selection of UK Consumer Price funds we make available may change. index + Information on the general and specific risks associated with investing in this fund is Information is shown as unavailable if prior to the launch of fund. available in the relevant fund guide, or KIID. where applicable. We may change the Cumulative Performance investment approach rating for the fund.

7 All 30/10/2021 - 30/08/2021 - 30/11/2020 - 30/11/2018 - 30/11/2016 - information is sourced from Scottish Widows or 30/11/2021 30/11/2021 30/11/2021 30/11/2021 30/11/2021 the relevant fund management group unless Scottish Widows otherwise stated. Pension Portfolio Three Pension (Series 2). UK Consumer Price - index + Source: FE fundinfo as at 30/11/2021. Performance figures are in Sterling on a single pricing basis, with income (where applicable). reinvested net of UK tax and net of total annual fund charges. These figures do not include any initial charge or other product charge(s) that may be applicable. Quarterly Fund Manager Review Developed market shares were flat in the third quarter as declines in September erased earlier gains. emerging market equities underperformed amid a market sell in China. US equities notched up a small positive return in the quarter. Strong earnings had lifted US stocks in the run up to August, when the Federal Reserve seemed to strike a dovish tone, confirming its hesitance to tighten policy too fast.

8 However, growth and inflation concerns late in the quarter meant US equities retraced their steps in September. Eurozone equities were also flat. The energy sector was one of the strongest performers, as was information technology with semiconductor-related stocks seeing a robust advance. UK equities rose with the market driven by a variety of factors. While there were some clear sector winners (such as energy on the back of a recovery in crude oil prices) the difference between the best and worst-performing stocks, or dispersion, was quite marked. The Japanese equity market achieved a total return of for the quarter. emerging market equities declined in the quarter. In the bond markets, US and European government yields were unchanged for the quarter as an initial decline reversed in September amid a hawkish shift from central banks and continuing inflationary pressure. The UK underperformed, with a significant rise in yields on increased expectations for monetary policy tightening.

9 The US 10-year Treasury yield finished at , one basis point (bps) higher. Yields fell initially, as the rapid economic recovery appeared to be moderating. However, as the market 's focus turned to rising inflation and the prospect of the withdrawal of monetary policy support, yields rose back to similar levels seen at the beginning of the quarter. The Federal Reserve (Fed) became increasingly hawkish, suggesting that asset purchase tapering could start as early as November and that it could be wound up by mid-2022, earlier than expected. The UK 10-year yield increased from to , with the move occurring in September. In Europe, the German 10-year yield was one bps lower at Italy's 10-year yield finished 4bps higher at Philip Chandler 30/09/2021. The views, opinions and forecasts expressed in this document are those of the fund management house. Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact, nor should reliance be placed on these views when making investment decisions.

10 Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered Office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655. Page 2.