AWARD-WINNING DISCRETIONARY INVESTMENT MANAGEMENT

AWARD-WINNINGDISCRETIONARY INVESTMENT MANAGEMENT'03 */7&45.&/5 130'&44*0/"-4 0/-:

] TAM Asset Management Ltd is an award-winning discretionary investmentmanagement company with decades of industry experience in offering forwardthinking portfolio management services to individual clients and institutionsaround the world.Our team of expert investment professionals believe that every investor shouldhave access to actively managed, diversified investment portfolios regardless oftheir level of wealth. This principle is also a priority for the FCA, and forms part ofits mission to ensure that no group of potential investors are denied access toinvestment services.WHOWEARETAM do not believe in a one-size-fits-all approach and as such have over the yearsdesigned and developed a vast range of services for advisers to offer their varyingclientele - from suites of dynamic and passive investment portfolios, to suites ofESG and Sharia investment portfolios.

] We follow a robust and well considered investment process. From assetallocation modelling, fund universe filtering and selection, to theconstruction and monitoring of your client's portfolio, we follow specificguidelines and procedures to ensure well-balanced and diversifiedportfolio construction.INVESTMENTPROCESSYour DiversifiedPortfolioGlobal FundUniverseFund Research &Strategic &Risk & PerformanceDue Dilligence Tactical AllocationMonitoring

] 3We monitor a universe of over 7000 funds, conducting structured andcomprehensive research and in-depth qualitative analysis and duediligence in order to choose the right funds for each portfolio.FUNDSFUNDRESEARCHPROCESSFUND UNIVERSERESEARCH FUNDSAPPROVED FUNDSINVESTED FUNDS7000 803010 to HNEXUSEXPRESSONE-ON-ONEMEETINGSKNOWLEDGERISK PROFILINGFINANCIALRESOURCESPROPRIETARYDUE DILIGENCEREPORTPHAROSPROPRIETARYPLATFORMCONTACTSWe invest with the best fund managers from the largest fund housesaround the world, aiming to invest in the lowest cost institutionalfocused funds. Our team of analysts visit the managers we invest with,conducting 100s of manager interviews a year, all with the aim ofensuring the accurate selection of investments for your client’s portfolio.

] 4Strategic constraintsand preferencesPORTFOLIO rtfolioPortfolioobjectivesRiskparametersMarkets are forever changing, so we must continuously anticipate and adapt.Based on the investment objectives and risk profile, long-term strategicallocations are determined. Around this, shorter-term tactical positions areadded to react to changes and dampen market volatility.

] 5We have made our portfolios as accessible as possible. We acceptinvestments directly, or transfers from an ISA, pension scheme, life insurancebond or trust. We work with most of the major product providers, takingaway adviser burden by liaising directly with the ceding offices.PORTFOLIOACCESS

] 6The security of your client's investment is paramount, which is why TAM do notseek to hold client assets directly and instead investments are typically held onthe client’s behalf with our custodian, Pershing Securities Limited, who: Have over 600,000 clients with assets of over 1.9 trillion. Are part of The Bank of New York Mellon Corporation (BNY Mellon), oneof the world’s largest and strongest financial institutions. Offer some of the highest levels of protection available in the industry.SECURITY OFASSETSThe liquidity of an investment is fundamental for its consideration for aportfolio. The time required to return your clients' money is reported everydayand we do not impose any lock-in periods for clients withdrawing or movingtheir funds if their circumstances change, or they are not entirely satisfied.

] 7We manage portfolios across the risk spectrum and their composition is drivenby current market conditions. Our ESG, Sharia and Passive ranges are availablein Defensive to Adventurous, and our Premier service is available across theentire spectrum.HIGHER6GrowthRISK MANAGEMENTRISK/RETURN 0%50%35%15%65%DIRECTIONAL EQUITYNON-EQUITY0 TAM RISK RATING100%1 to s3 to 53 to 55 to 75 to 77 7 HIGHEREXAMPLE INVESTMENT TIME HORIZON (YEARS)Source: TAM Asset Management Ltd. The value of investments, and the income from them,may go down as well as up and may fall below the amount initially invested. Weightings maydeviate from these levels at the Investment Team's discretion, whilst staying within specificguidelines.

] 8DIVERSIFICATIONTAM uses diversification across asset class, geographical focus and underlying funds to spread risk and exposure.Below is a snapshot of the asset allocation and fund selection a Premier Balanced portfolio may invest in.Cash & Money MarketMI Chelverton UK Equity Income FundiShares Core UK Gilts ETFTwentyfour AM Dynamic Bond FundCF Miton UK Multi Cap Income Fund5%Franklin UK Equity Income Fund15%L&G Ethical TrustRathbone Ethical Bond Fund55%Investec UK Alpha FundFundsmith Equity FundBlackRock iShares Physical Gold ETC25%Columbia Threadneedle UK Absolute FundFidelity American Special Situations FundPolen Capital Focus US Growth FundBlackRock European Absolute Return FundBlackRock European Dynamic FundJPM Global Macro Opportunities fundEQUITY ALTERNATIVES FIXED INTEREST/BONDS CASHSource: TAM Asset Management Ltd. The diagram is representative of a Premier Balanced portfolio. Weightings may deviatefrom these levels at the Investment Team's discretion whilst staying within specific guidelines.

] 9FLEXIBILITYOur investment portfolios benefit from our ability to adjust their compositions in order to quickly react tokey market conditions. This flexibility allows us, within a portfolio's parameters, to add protection or takeadvantage of a growing market. To illustrate, the image shows the actions taken by our investment team toprotect clients' wealth during the 2008 financial crash, actions similar to those carried out during the 2020COVID-19 market fall.Source: TAM Asset Management Ltd. The graph is representative of a Premier Growth portfolio during the period shown.

] 10LONG-TERMTRACK RECORDTAM has a 13 year track record demonstrating performance across different market cycles and conditions.Our aim is simple; to maximise performance and outperform our benchmarks with minimal risk.120RETURN SINCE INCEPTION %100108.77%87.11%8060112.39%75.94%40200TAM CAUTIOUSTAM BALANCEDTAM GROWTHTAM ADVENTUROUSTAM PORTFOLIOSource: TAM Asset Management Ltd. TAM Premier portfolio return from inception (Cautious 1/1/08, Balanced 1/1/08,Growth 1/10/11, Adventurous 1/1/08) to 31/12/20 net of TAM fees. Past performance is not a guide for future returns and investorsmay get back less than their original investment.

] 11CAPITALPRESERVATIONCapital preservation is at the forefront of TAM's investment strategy. Our active portfolio management enablesthe investment team to reduce risk during difficult market periods, minimising losses for client portfolios andtherefore resulting in potentially stronger recovery in financial markets in the years that follow. To illustrate,the image shows the average performance of TAM's investment portfolios against their benchmark during the2008 financial crash and 2020 COVID-19 market -11.12%-12.66%-15.42%-15.42%-20.33%-26.30%TAM PORTFOLIOBENCHMARKSource: TAM Asset Management Ltd. Average TAM Premier portfolio return from 1st January 2008 to 31st December 2008 and 1stJanuary 2020 to 31st March 2020 net of TAM fees. Each benchmark is a composite of the broader UK equity market and thesovereign debt market. Past performance is not a guide for future returns and investors may get back less than their originalinvestment.

] 12DYNAMIC PORTFOLIOS'&"563&4 12 ZFBS USBDL SFDPSE SJTL QSPGJMFT Defaqto Risk Rated No NJOJNVN/maximum JOWFTUNFOU Invest directly or via an ISA, Pension, trust, Bondor Life Assurance wrapped product.13* */((Applicable to new business from 1/1/21)v ". : 3 QFS BOOVNv 1MBUGPSN GFF: QFS BOOVNv /PNJOFF GFF:Portfolios 200k and under 12.50 per quarterPortfolios over 200k 25 per quarterv &YFDVUJPO GFF: VQ UP b30 QFS USBOTBDUJPOVATValue Added Tax (VAT) will be added where applicable.OCFsThe funds in each TAM portfolio will also carry an average annual cost(Ongoing Charges Figure (OCF)). This will be dependent on the compositionof the underlying investments and may fluctuate over time.

] 13&NVIRONMENTAL, SOCIAL &GOVERNANCE */7&45.&/54'&"563&4 7 year track record5 risk profilesDefaqto Risk RatedNo minimum/maximum investmentInvest directly or via an ISA, Pension, trust,Bond or Life Assurance wrapped product.13* */((Applicable to new business from 1/1/21)v ". : QFS BOOVNv 1MBUGPSN GFF: QFS BOOVNv /PNJOFF GFF: b QFS RVBSUFSv &YFDVUJPO GFF: VQ UP b QFS USBOTBDUJPOVATValue Added Tax (VAT) will be added where applicable.OCFsThe funds in each TAM portfolio will also carry an average annual cost(Ongoing Charges Figure (OCF)). This will be dependent on thecomposition of the underlying investments and may fluctuate over time.

] 14*4-".* */7&45.&/54'&"563&4 6 year track record 5 risk profiles No minimum/maximum investment Invest directly or via an ISA, Pension, trust,Bond or Life Assurance wrapped product.13* */((Applicable to new business from 1/1/21)vvvv". : QFS BOOVN1MBUGPSN GFF: QFS BOOVN/PNJOFF GFF: b QFS RVBSUFS&YFDVUJPO GFF: VQ UP b30 QFS USBOTBDUJPOVATValue Added Tax (VAT) will be added where applicable.OCFsThe funds in each TAM portfolio will also carry an average annualcost (Ongoing Charges Figure (OCF)). This will be dependent on thecomposition of the underlying investments and may fluctuate over time.

] 151"44*7& INVESTMENTS'&"563&4 3 year track record 5 risk profiles No minimum/maximum investment Invest directly or via an ISA, Pension, trust,Bond or Life Assurance wrapped product.13* */((Applicable to new business from 1/1/21)v ". : QFS BOOVNv 1MBUGPSN GFF: QFS BOOVNv /PNJOFF GFF: b QFS RVBSUFSv &YFDVUJPO GFF: VQ UP b QFS USBOTBDUJPOVATValue Added Tax (VAT) will be added where applicable.OCFsThe funds in each TAM portfolio will also carry an average annual cost(Ongoing Charges Figure (OCF)). This will be dependent on the compositionof the underlying investments and may fluctuate over time.

] 16TAM PLATFORMEverything you and your client will need to know about their investment portfolio isdelivered through TAM's innovative online platform: Log in anytime, from anywhere and on any device Commentary available 24/7 Fully customisable, periodic reporting and information down to contract note level Immediate, internet-based valuations can be viewed online, printed or saved as a PDF

] 17NEXT STEPS PNQMFUF B QPSUGPMJP SJTL RVFTUJPOOBJSF XJUI ZPVS DMJFOUThis questionnaire is straightforward and willhelp you and your client decide how much riskthey're willing and able to take with theirmoney.Request a UBJMPSFE pre-investmentreport GPS ZPVS DMJFOUThis report will describe how the portfolio willbe managed, and outline the currentinvestment strategy and portfolio fees.Proposals also include a MiFID II compliant exante costs page.Apply onlineOnce you have reviewed the proposal withyour client and they confirm they are happy toproceed, our digital application form allows youto complete, sign and return it online, takingaway the need to print and post, saving youboth time and resource.