INDEX. Equity 5 Debt 6. Tata Balanced Fund 16

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2 INDEX MARKET OUTLOOK Equity 5 Debt 6 EQUITY Tata Pure Equity 7 Tata Equity Opportunities 8 Tata Ethical 9 Tata Equity P/E Tata Mid Cap Growth 11 Tata Dividend Yield 12 Tata Infrastructure 13 Tata India Tax Savings (Erstwhile known as Tata Long Term Equity ; renamed w.e.f December 21, 2015) 14 Tata Savings Equity 15 HYBRID Tata Balanced 16 DEBT Tata Dynamic Bond Tata Income Plus Tata Income Tata Short Term Bond Tata Treasury Manager Tata Floater LIQUID Tata Money Market Tata Liquid GILT Tata Gilt Securities Tata Gilt Mid Term Tata Gilt Securities Short Maturity SOLUTIONS Tata Retirement Savings - Progressive Plan Tata Retirement Savings - Moderate Plan Tata Retirement Savings - Conservative Plan Tata Young Citizens SCHEMES PERFORMANCE DIVIDEND / BONUS HISTORY HOW TO READ FACT SHEET

3 RISKOMETER Name of the Schemes Investment Objective Fixed Income for Short Term. Riskometer Tata Liquid Investment in Debt/Money Market instruments/government Securities. Tata Money Market Investment in Money Market instruments. Name of the Schemes Investment Objective Fixed Income for Short Term. Riskometer Tata Floater Investment in Debt/Money Market instruments/government Securities. Tata Treasury Manager Investment in Debt/Money Market instruments excluding Government Securities. Tata Short Term Bond Investment Objective Fixed Income for Short Term. Investment in Debt/Money market instruments /Government Securities. Name of the Schemes Investment Objective Fixed Income for Short Term. Riskometer Tata Dynamic Bond Investment Objective Short Term to Medium Capital Appreciation & Income. Investment in Debt/Money Market instruments/government securities. Tata Gilt Mid Term Investment Objective Medium Term Capital Appreciation. Investment predominantly in Government Securities (upto 15 years maturity). Tata Gilt Securities Investment Objective Long Term Capital Appreciation & Income. Investment predominantly in Government Securities. Tata Gilt Securities Short Maturity Investment Objective Short Term to Medium Capital Appreciation & Income. Investment predominantly in Government Securities (average maturity upto 6 years). Tata Income Investment Objective Long Term Capital Appreciation & Income. Investment in Debt/Money Market instruments/government Securities. Tata Income Plus Investment Objective Long Term Capital Appreciation & Income. Investment in Debt/Money Market instruments/government Securities. Tata MIP Plus Investment Objective Long Term Capital Appreciation & Current Income. Investment predominantly in fixed income instruments and some portion (upto 20%) in equity and equity related instruments. 3

4 RISKOMETER Name of the Schemes Investment Objective Long Term Capital Appreciation Riskometer Tata Balanced Tata Dividend Yield Tata Equity Opportunities Tata Equity P/E Tata Ethical Tata Mid Cap Growth Tata Pure Equity Investment predominantly in equity & equity related instruments and some portion (between 25 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. Investment in equity and equity related instruments of Shariah Principles compliant companies and in other instruments allowed under Shariah principles. 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. Tata Retirement Savings - Moderate Plan A predominantly equity oriented savings scheme which provides tool for retirement planning to individual investors. Tata Savings Equity Tata Retirement Savings - Progresive Plan Predominantly investing in equity and equity related instruments, equity arbitrage opportunities and debt and money market instruments. A predominantly equity oriented savings scheme which provides tool for retirement planning to individual investors. Tata India Tax Savings (Erstwhile known as Tata Long Term Equity ; renamed w.e.f December 21, 2015) An equity linked savings scheme (ELSS) Investing predominantly in Equity & Equity related instruments. Tata Young Citizens Investment Objective Long Term Capital Appreciation & Current Income. Investment in equity & equity related instruments and in fixed income instruments. Tata Retirement Savings - Conservative Plan Investment Objective Long Term Capital Appreciation & Current Income. A predominantly debt oriented savings scheme which provides tool for retirement planning to individual investors. Name of the Schemes Investment Objective Long Term Capital Appreciation. Riskometer Tata Infrastructure Investment Predominantly in equity / equity related instruments of the companies in the Infrastructure sector in India. *Investors should consult their financial advisors if in doubt about whether the product is suitable for them. 4

5 MARKET OUTLOOK Equity market CY15 saw Indian markets, as represented by BSE SENSEX and Nifty50, decline by 5% and 4% respectively. However, mid cap and small cap stocks continued their outperformance. The outperformance of mid and small cap stocks was helped by their higher exposure to domestic economy and lower FII ownership. Consumer durables, pharma and IT sectors out-performed while metals, realty and banking underperformed. FIIs invested USD 3.2 bn in Indian equities in CY15 with bulk of the buying coming in the first half of the year. Domestic MFs remained buyers of Indian equities throughout the year, with a total buying of USD 11.1 bn. Index Name Nifty 50 Index S&P BSE Sensex S&P BSE MID CAP S&P BSE SMALL CAP 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-Dec Nov Dec-14 1 Month 1 Year The Macro picture WPI CPI Index of Industrial Production Repo rate Marginal Standing Facility Rate Source RBI, MOSPI; *revised upwards from 3.6% Nov % 5.4% 9.8% (For October 2015) 6.75% (as on December 31, 2015) 7.75% (as on December 31, 2015) Oct % 5.0% 3.8% (For September 2015)* 6.75% (as on November 30, 2015) 7.75% (as on November 30, 2015) Growth The Index of Industrial Production (IIP) expanded by 9.8% YoY in October 2015 benefiting from a favourable base effect related to a shift in the festive calendar. Capital goods (16.1% vs.3% in Sep) and consumer durables (42.2% vs 8.4% in Sep) were the main contributors to the IIP growth. The spike in industrial growth in October 2015 has boosted IIP growth to 4.8% for April-October 2015 as compared to the mild 2.2% rise in the same months of Continuing sluggishness in exports and rural demand, the narrow recovery in infrastructure and the relatively brighter outlook for urban demand continue to point towards moderate industrial growth in the near to medium term. Inflation Consumer Price Index (CPI) inflation rose to 5.41% YoY in November from 5.0% YoY in the previous month. Food inflation rose to 6.08% YoY driven by poor monsoon and reversal of favourable base effect. Wholesale Price Index (WPI) remained in the negative territory at -2.0% YoY in November but the pace of contraction has eased considerably as compared to -3.8% YoY in October Core WPI inflation remained at sub-zero levels for the ninth consecutive month, printing at -1.9% in November 2015 as compared to a series-low -2.1% in October The trajectory for global commodity prices as well as currency movements would influence the WPI trajectory in the coming months. Other macro developments November trade deficit remained comfortably low at US$9.8 bn. The compression was led by weaker imports - both Gold and Non-Gold. Exports and imports declined 24% and 30% YoY respectively. Fiscal deficit for April-November 2015 stood at 87 the budgeted target compared to 98.9% in the same period in the previous year. The rupee appreciated 0.8% vs. US dollar over the month. The appreciation can be linked to broader dollar index depreciation (1.5%) and the fall in global crude oil price helping outlook on India s twin deficit. India s FX reserves increased marginally to USD352bn over the month and remains near historic highs. Outlook CY2015 was marked by global events like softening crude and commodity prices as well as end of the decade long US Fed easy monetary policy. On the domestic front, expectations built around reforms and capex revival, had to be toned down considerably. Both these factors have led to considerable cut in earnings estimates. Sensex is now trading in the range of 15-16x FY17 earnings. The valuations are reasonable with realistic expectations built in after one year of time correction and some price correction too. Possible growth triggers lie ahead in terms of 7th pay commission implementation, higher public sector capex, flow through effect of lower interest rates and passage of important bills in CY16. India s macro-economic position remains comfortable. Thus, while Indian markets may exhibit higher volatility near term, primarily flowing through global factors, over the medium term the outlook for economic growth and markets remains constructive. We would urge investors to continue investing through SIPs and use the increased volatility to their advantage. 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. This note has been prepared using information believed to be accurate at the time of its use. 5

6 MARKET OUTLOOK Debt market Year Benchmark Yield (s.a)** 5 Year Benchmark Yield (s.a) Year AAA (PSU) (ann) 5 Year AAA ( PSU) (ann) 3 Month T Bill 3 Month CD 12 Month CD Year AAA Spread*** 5 Year AAA Spread ** New year benchmark 7.72% IGB 25/05/2025; *** Spread over new year benchmark 31-Dec Nov-15 Change (bps) 7.76% 7.79% % 7.84% % 8.27% % 8.25% % 7.13% % 7.29% % 7.65% % 0.48% % 0.41% 20 The Bond market remained flat throughout the month with some volatility around FOMC meeting. Post FOMC meeting year G-Sec rallied by bps however gains were erased in next two trading sessions. Benchmark year G-Sec yield closed at 7.76% compared to 7.79% at the beginning of the month. Three month T-bill closed at 7.15%, 2 bps higher than a month ago. One year CD levels increased to 7.70% compared to 7.65% a month ago. AAA PSU year yield and 5 year yield were 8 and 5 bps up respectively. AAA PSU year spread over benchmark year G-Sec widened to 59 bps from 48 bps, an expansion of 11 bps and the 5 year category spread widened to 61 bps from 41 bps, an expansion of 20 bps. Among the key macro-economic data released during the month, November CPI increased to 5.4% from the earlier print of 5.0% in October. Food inflation saw an uptick to 6.1% YoY, from 5.3% YoY a month ago mainly because of 3.7% MoM (46.1% YoY) increase in pulses. The core inflation increased marginally to 4.7% YoY from 4.6% YoY a month ago. Food inflation remains under control and sequentially inflation is growing at a comfortable rate. Hence, we expect that headline inflation will be around 5.5% - 5.6% on average over Q4FY16. November WPI stood at -1.99% compared to -3.81% in October. WPI has remained in the negative range for 13th straight month on the back of soft commodity prices, though the deflation was less than in the previous month because of increase in vegetable prices. Fuel and power index declined by 11.09% YoY compared to 16.37% YoY in the previous month. Manufactured products index declined at a slightly lower rate by 1.42% YoY versus 1.67% YoY in the previous month. Food articles prices increased by 5.2% YoY compared to 2.44% in the previous month. The Index of Industrial Production (IIP) for the month of October strengthened to 9.8% YoY from 3.6% YoY in September. Increase can be attributed to an extremely favorable base effect due to weaker output in October last year because of less working days on account of Diwali festivities. Manufacturing sector jumped by.6% YoY, against -5.6% YoY last year. Mining sector output grew by 4.7% YoY, compared to 4.5% YoY last year. Electricity generation surged by 9% YoY against 13.7% YoY last year. Even as rural demand has stayed weak, urban demand has supported consumer durables. Stable inflation together with implementation of the recommendations of the Seventh Pay commission in the next fiscal will continue to support urban demand, and should drive a moderate acceleration in growth. We expect RBI to maintain status quo since no further space is available immediately for policy easing. However, world economy remains fragile and global growth remains slow. If domestic growth remains subdued and inflation stays within target range, RBI might act to boost growth. Adherence of government to fiscal deficit and policy action to manage supply side constraints will remain the key factors. We expect liquidity to remain easy and RBI to micro manage liquidity, hence short term rates expected to remain at lower end (3M T-bill around 7.05%-7.15% and 1 year T-bill around 7.20%-7.25%). We expect year benchmark G-sec to trade below 7.50% by March Going ahead, we expect the yield curve to steepen and term premium for longer duration to increase once the market starts contemplating the end to easing cycle. 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. This note has been prepared using information believed to be accurate at the time of its use. 6

7 Tata Pure Equity (An Open-Ended Equity Scheme) 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 Pradeep Gokhale (Managing Since Jan-12 and overall experience of 25 years) S&P BSE Sensex V - Growth - Dividend Reg - Growth Reg - Dividend Rs (Rs. in Cr.) Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 40.46% 39.39% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Sharpe Ratio MINIMUM INVESTMENT / Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 Equity & Equity Related Total Maruti Suzuki Inda Ltd. Tata Motors Ltd. Mahindra & Mahindra Ltd. Tata Motors - DVR Eicher Motors Ltd. HDFC Bank Ltd. Axis Bank Ltd. ICICI Bank Ltd. Indusind Bank Ltd. State Bank Of India Ultratech Ltd. Ambuja s Ltd. Grasim Industries Ltd. Construction Project Larsen & Toubro Ltd. ITC Ltd. Asian Paints (India) Ltd. United Breweries Ltd. Hindustan Unilever Ltd. Finance Housing Development Finance Ltd. Industrial Capital Goods Bharat Electronics Ltd. Siemens Ltd. Media & Entertainment Zee Entertainment Enterprises Ltd. No. of Shares Oil Oil & Natural Gas Co. Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Glenmark Ltd. Divi Laboratories Ltd. Sun Pharmaceutical Industries Ltd. Glaxo Smithkline Pharma Power Power Grid Corporation Of India Ltd. Infosys Ltd. HCL Technologies Ltd. Tata Consultancy Services Ltd. Transportation Container Corporation Of India Ltd. Adani Port & Special Economic Zone Other Equities^ CBLO Repo Net Current Liabilities Net No. of Shares SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B S&P BSE Sensex B S&P BSE Sensex 117, % 113, % 440, % 403, % 600, , % 756, % 840,000 1,350, % 1,180, % 1,200,000 2,282, % 1,890, % 2,1,000 16,035, % 7,708, % (Inception date 07-May-1998) (First Installment date 01-Jun-1998) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark Source MFI Explorer ^ Exposure less than 1% has been clubbed under Other Equities Entry Load Not Applicable Exit Load 1% if redeemed on or before expiry of 365 days from the date of allotment. Top Holdings Equity Issuer Name HDFC Bank Ltd. Infosys Ltd. HCL Technologies Ltd. Axis Bank Ltd. Maruti Suzuki India Ltd. Reliance Industries Ltd. ICICI Bank Ltd. Tata Motors Ltd. Ultratech Ltd. Bharat Electronics Ltd. Total V Sector Allocation 20.01% 11.48% 11.04% 9.23% 8.91% 5.79% Industrial Capital Goods 5.26% Petroleum Products 4.91% Transportation 3.25% Finance 3.09% Power 2.52% Construction Project 2.43% Media & Entertainment 2.22% Oil 1.64% Non - Ferrous Metals 0.92% 0.00% 5.00%.00% 15.00% 20.00% 25.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 0.00% 0.00% 0.00% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). V Movement Tata Pure Equity - Reg S&P BSE Sensex

8 Tata Equity Opportunities (An Open-Ended Equity Scheme) 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 Pradeep Gokhale (Managing Since Jun - 13 and overall experience of 25 years), Rupesh Patel (Managing Since Jun - 13 and overall experience of 15 years) (Equity) S&P BSE 200 V - Growth - Dividend Reg - Growth Reg - Dividend Rs (Rs. in Cr.) Sharpe Ratio Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) 54.61% Portfolio Turnover (Equity component only) 54.42% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 1% if redeemed on or before expiry of 365 days from the date of allotment. Equity & Equity Related Total Tata Motors Ltd. Maruti Suzuki Inda Ltd. Mahindra & Mahindra Ltd. Ancillaries Amara Raja Batteries Ltd. HDFC Bank Ltd. Axis Bank Ltd. ICICI Bank Ltd. State Bank Of India Indusind Bank Ltd. Ultratech Ltd. The Ramco s Ltd. Shree Ltd. Construction KNR Construction Kajaria Ceramics Ltd. Construction Project No. of Shares Sadbhav Engineering Ltd Larsen & Toubro Ltd Techno Electric And Engineering Company Ltd Sadbhav Infrastructure Project Ltd Asian Paints (India) Ltd ITC Ltd Finance Multi Commodity Exchange Of Ind Ltd Housing Development Finance Ltd Cholamandalam Investment & Finance Co Ltd LIC Housing Finance Ltd SIP - If you had invested INR 000 every month Total Value of B S&P BSE 200 B S&P BSE 200 Total Value of AB S&P BSE Sensex AB S&P BSE Sensex (Inception date 25-Feb-1993) (First Installment date 01-Mar-1993) No. of Shares Other Equities^ CBLO Repo Net Current Liabilities Net ^ Exposure less than 1% has been clubbed under Other Equities Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Top Holdings Equity Issuer Name HDFC Bank Ltd. Sadbhav Engineering Ltd. Tata Motors Ltd. Jet Airways Ltd. Maruti Suzuki India Ltd. Axis Bank Ltd. Bharat Electronics Ltd. HCL Technologies Ltd. Infosys Ltd. ICICI Bank Ltd. Total Year 3 Year 5 Year 7 Year Year Since Inception 121, % 116, % 113, % V , % 426, % 403, % Gas Gujarat State Petronet Ltd. Industrial Capital Goods Bharat Electronics Ltd. Suzlon Energy Ltd. Petroleum Products Reliance Industries Ltd. Divi Laboratories Ltd. Sun Pharmaceutical Industries Ltd. Strides Shasun Ltd. Sequent Scientific Ltd. Glenmark Ltd. Sanofi India Ltd. Syngene International Ltd. Power Power Grid Corporation Of India Ltd. Services Aditya Birla Nuvo Ltd. HCL Technologies Ltd. Infosys Ltd. Tata Consultancy Services Ltd. Textile Products Arvind Ltd. Transportation Jet Airways Ltd. Container Corporation Of India Ltd. Adani Port & Special Economic Zone 600, , % 798, % 756, % Sector Allocation Construction Project Finance Transportation Industrial Capital Goods Construction Gas Petroleum Products Power Services Ancillaries Textile Products Telecom - Services Oil Non - Ferrous Metals Media & Entertainment 840,000 1,544, % 1,244, % 1,180, % % 8.60% 7.42% 7.16% 6.46% 6.15% 3.97% 3.53% 3.22% 2.32% 2.27% 1.84% 1.44% 1.30% 1.27% 0.77% 0.54% 0.52% 0.02% 1,200,000 2,479, % 1,996, % 1,890, % % 12.09% ,740,000 28,551, % 14,175, % 12,040, % 0.00% 5.00%.00% 15.00% 20.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 65.99% 26.94% 7.07% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). V Movement 180 Tata Equity Opportunities - Reg S&P BSE

9 Tata Ethical (An Open-Ended Equity Scheme) 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 Jan-12 and overall experience of 25 years) Nifty 500 Shariah V - Growth - Dividend Reg - Growth Reg - Dividend Rs (Rs. in Cr.) Sharpe Ratio Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter % 5.75% Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Equity & Equity Related Total Maruti Suzuki Inda Ltd. Bajaj Ltd. Hero Motocorp Ltd. Ancillaries Amara Raja Batteries Ltd. WABCO India Ltd. Bosch Ltd. Ultratech Ltd. Ambuja s Ltd. Shree Ltd. Grasim Industries Ltd. Hindustan Unilever Ltd. Britannia Industries Ltd. Asian Paints (India) Ltd. Colgate-Palmolive India Ltd. Glaxo Smithkline Con Healthcar Ltd. Kansai Nerolac Paints Ltd. Dabur India Ltd. Industrial Capital Goods Alstom T & D India Ltd. Thermax Ltd. Alstom India Ltd. Industrial Products Cummins India Ltd. Swaraj Engines Ltd. No. of Shares Oil Cairn India Ltd. Oil & Natural Gas Co. Divi Laboratories Ltd. Cipla Ltd. Lupin Ltd. Sun Pharmaceutical Industries Ltd. Glenmark Ltd. Sanofi India Ltd. Infosys Ltd. Tata Consultancy Services Ltd. HCL Technologies Ltd. Eclerx Services Ltd. NIIT Technologies Ltd. Other Equities^ Cash / Net Current Asset Net No. of Shares ^ Exposure less than 1% has been clubbed under Other Equities SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B Nifty 500 Shariah B Nifty 500 Shariah Total Value of AB Nifty 50 AB Nifty , % 120, % 114, % 483, % 458, % 409, % 600, , % 873, % 765, % 840,000 1,622, % 1,369, % 1,193, % 1,200,000 2,645, % 2,115,439.92% 1,923, % 2,320,000 22,136,7 20.% 4,551, % 9,214, % (Inception date 24-May-1996) (First Installment date 01-Sep-1996) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 1 the applicable V, if redeemed on or before 365 days from the date of allotment. (w.e.f. 6th April, 2015) Top Holdings Equity Issuer Name Hindustan Unilever Ltd. Infosys Ltd. Maruti Suzuki India Ltd. Tata Consultancy Services Ltd. Bajaj Ltd. Britannia Industries Ltd. Divi Laboratories Ltd. HCL Technologies Ltd. Ultratech Ltd. Cummins India Ltd. Total Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap V % 19.74% 3.% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). Sector Allocation 17.98% 16.69% 12.58%.69%.03% Industrial Capital Goods 6.57% Ancillaries 6.37% Industrial Products 6.16% Oil 2.92% Consumer Durables 2.05% Media & Entertainment 0.70% Pesticides 0.56% Healthcare Services 0.50% 0.00% 5.00%.00% 15.00% 20.00% ** Please refer note on Page No. 46 V Movement 200 Tata Ethical - Reg Nifty 500 Shariah

10 Tata Equity P/E (An Open-Ended Equity Scheme) Primarily invests at least 70 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 Atul Bhole (Managing Since Jun - 13 and overall experience of 11 years) S&P BSE Sensex V - Growth - Dividend (Trigger Option A 5%) - Dividend (Trigger Option B %) Reg - Growth Reg - Dividend (Trigger Option A 5%) Reg - Dividend (Trigger Option B %) Rs (Rs. in Cr.) Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) % 71.21% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Sharpe Ratio PE MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 1% if redeemed on or before expiry of 365 days from the date of allotment (w.e.f. 6th April, 2015) Equity & Equity Related Total Tata Motors - DVR VST Tillers Tractors Ltd. Tata Motors Ltd. Ancillaries J K Tyre & Industries Ltd. Yes Bank Ltd. Axis Bank Ltd. ICICI Bank Ltd. DCB Bank Ltd. Chemicals Atul Ltd. Construction KNR Construction MBL Infratructures Ltd. Cera Sanitaryware Ltd. Engineering Services VA Tech Wabag Ltd. Finance Mahindra And Mahindra Financial Services Ltd. LIC Housing Finance Ltd. Manappuram Finance Ltd. Gas Gujarat State Petronet Ltd. Indraprastha Gas Ltd. Industrial Capital Goods Bharat Electronics Ltd. Industrial Products Finolex Cables Ltd. Minerals/Mining Coal India Ltd. No. of Shares Other Equities^ Repo Cash / Net Current Asset Net SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B S&P BSE Sensex B S&P BSE Sensex (Inception date 29-Jun-2004) (First Installment date 01-Jul-2004) 118, % 113, % 507, % 403, % 600, , % 756, % 840,000 1,571, % 1,180, % 1,200,000 2,748, % 1,890, % 1,380,000 3,885, % 2,611,584.58% Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark Source MFI Explorer Top Holdings Equity Issuer Name Power Grid Corporation Of India Ltd. HCL Technologies Ltd. Aditya Birla Nuvo Ltd. Tata Motors Ltd. Yes Bank Ltd. Bharat Electronics Ltd. Axis Bank Ltd. Idea Cellular Ltd. Gujarat State Petronet Ltd. Coal India Ltd. Total V Petroleum Products H.P.C.L. Indian Oil Corporation Oil Oil & Natural Gas Co. Pesticides UPL Ltd. Strides Shasun Ltd. Power Power Grid Corporation Of India Ltd. Services Aditya Birla Nuvo Ltd. HCL Technologies Ltd. Mphasis Ltd. Hexaware Technologies Ltd. Telecom - Equipment & Accessories Astra Microwave Produts Ltd. Telecom - Services Idea Cellular Ltd. Textile Products Arvind Ltd. ^ Exposure less than 1% has been clubbed under Other Equities Sector Allocation Finance Construction Power Services Gas Industrial Capital Goods Petroleum Products Textile Products Telecom - Services Minerals/mining Pesticides Chemicals Telecom - Equipment & Accessories Industrial Products Ancillaries Oil Engineering Services Transportation No. of Shares 9.50% 7.95% 6.42% 5.99% 5.82% 5.35% 5.12% 4.53% 4.17% 3.67% 3.56% 3.25% 3.% 2.89% 2.13% 2.12% 2.08% 1.84% 1.20% 1.05% 0.97% 0.94% 12.31% 0.00% 5.00%.00% 15.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 57.32% 35.35% 7.32% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). V Movement 190 Tata Equity P/E - Reg S&P BSE Sensex

11 Tata Mid Cap Growth (An Open-Ended Equity Scheme) 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 Atul Bhole (Managing Since Apr - 12 and overall experience of 11 years) Nifty Midcap 0 V - Growth - Dividend - Bonus Reg - Growth Reg - Dividend Reg - Bonus Rs (Rs. in Cr.) MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load # # Plans are available for subscription under all open ended schemes of Tata Mutual w.e.f 1st January Separate V will be calculated & published for respective option(s) of the Plan upon initial subscription. Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) 36.02% Portfolio Turnover (Equity component only) 35.27% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Sharpe Ratio Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 1% if redeemed on or before expiry of 365 days from the date of allotment (w.e.f. 6th April, 2015) Equity & Equity Related Total Eicher Motors Ltd. Ancillaries WABCO India Ltd. Amara Raja Batteries Ltd. Yes Bank Ltd. Indusind Bank Ltd. DCB Bank Ltd. Shree Ltd. The Ramco s Ltd. Mangalam Ltd. J K Ltd. Chemicals Navin Fluorine International Ltd. Solar Industries India Ltd. Construction KNR Construction Kajaria Ceramics Ltd. Cera Sanitaryware Ltd. MBL Infratructures Ltd. Construction Project Sadbhav Engineering Ltd. Sadbhav Infrastructure Project Ltd. Techno Electric And Engineering Company Ltd. NCC Ltd. Consumer Durables IFB Industries Ltd. Kansai Nerolac Paints Ltd. Berger Paints India Ltd. Glaxo Smithkline Con Healthcar Ltd. Engineering Services VA Tech Wabag Ltd. Finance Sundaram Finance Ltd. Credit Analysis & Research Ltd. Gas Gujarat State Petronet Ltd. Top Holdings Equity Issuer Name Aditya Birla Nuvo Ltd. Glenmark Ltd. Sadbhav Engineering Ltd. WABCO India Ltd. Strides Shasun Ltd. Bharat Electronics Ltd. Eicher Motors Ltd. Yes Bank Ltd. Amara Raja Batteries Ltd. Indusind Bank Ltd. Total No. of Shares V Industrial Capital Goods Bharat Electronics Ltd. Alstom T & D India Ltd. Media & Entertainment Zee Entertainment Enterprises Ltd. Inox Leisure Ltd. Industrial Products Fag Bearings Ltd. Astral Poly Technik Ltd. AIA Engineering Ltd. Pesticides Bayer Cropscience Ltd. P.I. Industries Ltd. Glenmark Ltd. Strides Shasun Ltd. Indoco Remedies Ltd. Pfizer Ltd. Sequent Scientific Ltd. Alkem Laboratories Ltd. Divi Laboratories Ltd. Power Kalpataru Power Transmission Ltd. Retailing V-Mart Retail Ltd. Services Aditya Birla Nuvo Ltd. Hexaware Technologies Ltd. Mindtree Ltd. Textile Products Arvind Ltd. Page Industries Ltd. Transportation Blue Dart Express Ltd. Other Equities^ CBLO Net Current Liabilities Net Sector Allocation V Movement No. of Shares SIP - If you had invested INR 000 every month ^ Exposure less than 1% has been clubbed under Other Equities 1 Year 3 Year 5 Year 7 Year Year Since Inception 600, ,000 1,200,000 2,580, , ,223 1,182,717 1,957,675 3,198,803 15,190, % 34.39% 27.53% 23.76% 18.63% 18.26% Total Value of B Nifty Midcap 0 122, , ,212 1,468,159 2,396,698 11,903,780 B Nifty Midcap % 22.61% 17.49% 15.67% 13.26% 15.91% Total Value of AB Nifty , , ,214 1,193,013 1,923,573 8,319,511 AB Nifty % 8.47% 9.67% 9.86% 9.12% 12.37% (Inception date 01-Jul-1994) (First Installment date 01-Jul-1994) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Construction Construction Project Ancillaries Industrial Products Industrial Capital Goods Finance Services Media & Entertainment Chemicals Textile Products Transportation Pesticides Gas Consumer Durables Retailing Engineering Services Power Telecom - Equipment & Accessories 7.97% 7.57% 6.22% 5.83% 5.66% 5.54% 5.30% 4.87% 4.37% 3.84% 3.63% 3.22% 3.09% 2.86% 2.68% 2.39% 2.32% 1.94% 1.91% 1.71% 1.22% 1.03% 0.61% % 0.00% 5.00%.00% 15.00% 200 Tata Mid Cap Growth - Reg - Dividend Nifty Midcap V 11

12 Tata Dividend Yield (An Open-Ended Equity Scheme) Primarily focuses on investing in high dividend yield stocks. Minimum 70 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 Jun - 13 and overall experience of 15 years) Nifty 500 V - Growth - Dividend Reg - Growth Reg - Dividend Rs (Rs. in Cr.) Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) % 30.34% Sharpe Ratio Dividend Yield MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable * Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 * For S&P BSE Sensex 1% if redeemed on or before expiry of 365 days from the date of allotment. Equity & Equity Related Total Bajaj Ltd. Hero Motocorp Ltd. HDFC Bank Ltd. Axis Bank Ltd. ICICI Bank Ltd. Karur Vysa Bank Ltd. Federal Bank Ltd. Ambuja s Ltd. Construction Project Sadbhav Engineering Ltd. Hindustan Unilever Ltd. Colgate-Palmolive India Ltd. CCL Products India Ltd. MPS Ltd. ITC Ltd. Finance Credit Analysis & Research Ltd. Manappuram Finance Ltd. Mahindra And Mahindra Financial Services Ltd. Industrial Products Cummins India Ltd. Finolex Industries Ltd. Swaraj Engines Ltd Minerals/Mining Coal India Ltd. Power Power Grid Corporation Of India Ltd. HCL Technologies Ltd. Eclerx Services Ltd. Infosys Ltd. NIIT Technologies Ltd. Tata Consultancy Services Ltd. Hexaware Technologies Ltd. Mphasis Ltd. Strides Shasun Ltd. Glaxo Smithkline Pharma Sun Pharmaceutical Industries Ltd. Pfizer Ltd. Telecom - Services Tata Communications Ltd. No. of Shares Repo Net Current Liabilities Net ^ Exposure less than 1% has been clubbed under Other Equities SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B Nifty 500 B Nifty 500 Total Value of AB Nifty 50 AB Nifty , % 116, % 114, % 472, % 434, % 409, % 600, , % 813, % 765, % 840,000 1,521, % 1,262, % 1,193, % 1,200,000 2,688, % 2,0, % 1,923, % 1,330,000 3,326, % 2,465,691.65% 2,392,040.15% (Inception date 22-Nov-2004) (First Installment date 01-Dec-2004) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Top Holdings Equity Issuer Name Strides Shasun Ltd. HDFC Bank Ltd. HCL Technologies Ltd. Eclerx Services Ltd. Infosys Ltd. Power Grid Corporation Of India Ltd. Cummins India Ltd. Axis Bank Ltd. Bajaj Ltd. ICICI Bank Ltd. Total No. of Shares V Sector Allocation Industrial Products Finance Power Minerals/mining Telecom - Services Construction Project 11.30% 11.16% 7.96% 7.79% 7.05% 4.17% 2.70% 2.28% 2.% 2.00% 22.14% 17.62% 0.00% 5.00%.00% 15.00% 20.00% 25.00% V Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 56.35% 37.75% 5.90% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). V Movement 170 Tata Dividend Yield - Reg Nifty

13 Tata Infrastructure (An Open-Ended Equity Scheme) 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 Jan - 14 and overall experience of 15 years) (Equity) Nifty 500 V - Growth - Dividend Reg - Growth Reg - Dividend Rs (Rs. in Cr.) Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) % 38.02% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Sharpe Ratio MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 No. of Shares No. of Shares Equity & Equity Related Total Finance Sundaram Finance Ltd Eicher Motors Ltd Industrial Capital Goods Bharat Electronics Ltd HDFC Bank Ltd. Axis Bank Ltd. Yes Bank Ltd. ICICI Bank Ltd Alstom T & D India Ltd. ABB India Ltd. Thermax Ltd. Sanghvi Movers Ltd. Suzlon Energy Ltd Ultratech Ltd. Shree Ltd. The Ramco s Ltd. J K Lakshmi Ltd. J K Ltd. Chemicals Gas Gujarat State Petronet Ltd. Industrial Products Cummins India Ltd. Astral Poly Technik Ltd. AIA Engineering Ltd Solar Industries India Ltd. Construction Fag Bearings Ltd. Timken India Ltd KNR Construction Kajaria Ceramics Ltd. National Buildings Constr Corp Ltd. MBL Infratructures Ltd. Construction Project Ador Welding Ltd. Grindwell Norton Ltd. Media & Entertainment Inox Leisure Ltd. Power Sadbhav Engineering Ltd. Larsen & Toubro Ltd. NCC Ltd. Sadbhav Infrastructure Project Ltd Power Grid Corporation Of India Ltd. Kalpataru Power Transmission Ltd. Transportation Adani Port & Special Economic Zone Techno Electric And Engineering Other Equities^ Company Ltd. CBLO Repo Asian Paints (India) Ltd Engineering Services Net Current Liabilities Net VA Tech Wabag Ltd ^ Exposure less than 1% has been clubbed under Other Equities SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception 600, ,000 1,200,000 1,3, , , ,481 1,185,630 1,817,2 2,2, % 18.53% 12.62% 9.68% 8.04% 9.22% Total Value of B Nifty , , ,439 1,262,287 2,0,614 2,388,497 B Nifty % 12.64% 12.13% 11.44% 9.96%.54% Total Value of AB Nifty , , ,214 1,193,013 1,923,573 2,313,969 AB Nifty % 8.47% 9.67% 9.86% 9.12%.00% (Inception date 31-Dec-2004) (First Installment date 01-Feb-2005) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Entry Load Not Applicable Exit Load 1% if redeemed on or before expiry of 365 days from the date of allotment. Top Holdings Equity Issuer Name Sadbhav Engineering Ltd. HDFC Bank Ltd. Ultratech Ltd. Axis Bank Ltd. Cummins India Ltd. Astral Poly Technik Ltd. Shree Ltd. Asian Paints (india) Ltd. Gujarat State Petronet Ltd. Bharat Electronics Ltd. Total Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap V % 42.82% 12.76% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). Sector Allocation Industrial Products Construction Project Industrial Capital Goods Construction Power Gas Transportation Media & Entertainment Finance Chemicals Engineering Services V Movement 3.61% 3.30% 3.27% 2.01% 1.76% 1.42% 1.11% 1.05% 1.03% 15.57% 14.29% 14.23% 13.02% 12.15% 9.61% 0.00% 5.00%.00% 15.00% 20.00% Tata Infrastructure - Reg Nifty V 13

14 Tata India Tax Savings (Erstwhile known as Tata Long Term Equity ; renamed w.e.f December 21, 2015) (An Open-Ended Equity Linked Saving Scheme (ELSS) for residents with a lock-in period of 3 years) 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 Apr-15 and overall experience of 15 years) S&P BSE Sensex V - Dividend Reg - Dividend - Growth Reg- Growth Rs (Rs. in Cr.) Sharpe Ratio Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) MINIMUM INVESTMENT/ Rs. 500/- and in multiples of Rs. 500/- thereafter. ADDITIOL INVESTMENT/ Rs. 500/- and multiples of Rs. 500/- thereafter. Entry Load Not Applicable Exit Load Nil % 57.72% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 Equity & Equity Related Total Eicher Motors Ltd. Tata Motors - DVR Maruti Suzuki Inda Ltd. Ancillaries WABCO India Ltd. HDFC Bank Ltd. Axis Bank Ltd. Yes Bank Ltd. Kotak Mahindra Bank ICICI Bank Ltd. Indusind Bank Ltd. DCB Bank Ltd. Grasim Industries Ltd. Ultratech Ltd. The Ramco s Ltd. Chemicals Navin Fluorine International Ltd. Construction Kajaria Ceramics Ltd. Somany Ceramics Ltd. KNR Construction Construction Project Sadbhav Engineering Ltd. Sadbhav Infrastructure Project Ltd. Consumer Durables IFB Industries Ltd. Britannia Industries Ltd. Asian Paints (India) Ltd. Kansai Nerolac Paints Ltd. Finance Housing Development Finance Ltd. No. of Shares No. of Shares Gas Gujarat State Petronet Ltd Hotels, Resort And Other Recreational Activities Wonderla Holidays Ltd Industrial Capital Goods Bharat Electronics Ltd Industrial Products Astral Poly Technik Ltd Timken India Ltd. 700 Fag Bearings Ltd Media & Entertainment Inox Leisure Ltd Glenmark Ltd Strides Shasun Ltd Divi Laboratories Ltd Sequent Scientific Ltd Sun Pharmaceutical Industries Ltd Retailing Trent Ltd Services Aditya Birla Nuvo Ltd Infosys Ltd HCL Technologies Ltd Tata Consultancy Services Ltd Transportation Jet Airways Ltd Thomas Cook (India) Ltd Container Corporation Of India Ltd Other Equities^ Repo Net Current Liabilities Net ^ Exposure less than 1% has been clubbed under Other Equities SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception 600, ,000 1,200,000 2,340, , ,266 1,002,208 1,629,674 2,628,356 25,226, % 24.74% 20.64% 18.60% 14.99% 20.93% Total Value of B S&P BSE Sensex 113, , ,858 1,180,714 1,890,184 9,355,8 B S&P BSE Sensex -9.17% 7.60% 9.22% 9.57% 8.79% 12.69% (Inception date 31-Mar-1996) (First Installment date 01-Jul-1996) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark Source MFI Explorer Top Holdings Equity Issuer Name HDFC Bank Ltd. Infosys Ltd. Jet Airways Ltd. Axis Bank Ltd. Aditya Birla Nuvo Ltd. Bharat Electronics Ltd. Kajaria Ceramics Ltd. HCL Technologies Ltd. Tata Consultancy Services Ltd. Somany Ceramics Ltd. Total Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap V % 35.23%.04% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). Sector Allocation 17.97%.18% 8.85% Construction 7.28% 5.79% Transportation 5.74% 5.05% Industrial Products 4.87% 4.48% Finance 3.52% Construction Project 3.30% Services 3.04% Industrial Capital Goods 2.93% Ancillaries 2.23% Media & Entertainment 1.94% Consumer Durables 1.85% Gas 1.66% Hotels, Resort And Other 1.62% Chemicals 1.52% Retailing 1.02% 0.00% 5.00%.00% 15.00% 20.00% V Movement 170 Tata India Tax Savings - Reg - Dividend S&P BSE Sensex V 14

15 Tata Savings Equity (An Open-Ended Equity Scheme) 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 Atul Bhole (Managing Since Jan - 12 and overall experience of 11 years) (for equity portfolio) and Akhil Mittal (Managing Since Jul - 15 and overall experience of 14 years) (for Arbitrage strategies and Debt Portfolio) Nifty 50 Index (35%),Crisil Liquid Index (30%), Crisil Short Term Bond Index (35%) V Monthly Dividend Growth Quarterly Dividend - Growth - Monthly Dividend - Quarterly Dividend Rs (Rs. in Cr.) Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) Sharpe Ratio MINIMUM INVESTMENT/ ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Modified Duration Average Maturity Gross Yield to Maturity (For Debt Component) i. Including NCA* ii. Excluding NCA* *NCA - Net Current Years 1.07 Years 3.32% 7.84% Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer Pg 44 Total stock in Portfolio 41 Growth Option Rs 5,000/- and in multiple of Re.1/- thereafter Dividend Option Rs 5,000/- and in multiple of Re.1/- thereafter % 21.44% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. 1 the applicable V, if redeemed on or before expiry of 365 days from the date of allotment Equity & Equity Related Total Unhedge Positions Eicher Motors Ltd. Maruti Suzuki Inda Ltd. Ancillaries Bosch Ltd. Kotak Mahindra Bank Yes Bank Ltd. Axis Bank Ltd. HDFC Bank Ltd. Federal Bank Ltd. Ultratech Ltd. Grasim Industries Ltd. J K Ltd. Construction Project NCC Ltd. Larsen & Toubro Ltd. Sadbhav Engineering Ltd. Consumer Durables Bata India Ltd. IFB Industries Ltd. Asian Paints (India) Ltd. Nestle India Ltd. Glaxo Smithkline Con Healthcar Ltd. United Spirits Ltd. P & G Hygiene & Health Care Ltd. Finance Housing Development Finance Ltd. Gas Gujarat State Petronet Ltd. Industrial Capital Goods Bharat Electronics Ltd. Alstom T & D India Ltd. Industrial Products Fag Bearings Ltd. Minerals/Mining Coal India Ltd. Pesticides Bayer Cropscience Ltd. Petroleum Products Indian Oil Corporation H.P.C.L. Sun Pharmaceutical Industries Ltd. Glenmark Ltd. Sanofi India Ltd. Strides Shasun Ltd. SIP - If you had invested INR 000 every month Total Value of B Nifty 50 Index (35%),Crisil Liquid Index (30%), Crisil Short Term Bond Index (35%) B Nifty 50 Index (35%),Crisil Liquid Index (30%), Crisil Short Term Bond Index (35%) (Inception date 27-Apr-2000) (First Installment date 01-May-2000) Top Holdings Equity Issuer Name Power Grid Corporation Of India Ltd HCL Technologies Ltd Ultratech Limited Bata India Ltd Aditya Birla Nuvo Ltd NCC Limited Grasim Industries Ltd Kotak Mahindra Bank Gujarat State Petronet Ltd. Yes Bank Ltd Total V Repo Cash / Net Current Asset Net 1 Year 3 Year 5 Year 7 Year Year Since Inception 118, % 121, % V Divi Laboratories Ltd. Power Power Grid Corporation Of India Ltd. Services Aditya Birla Nuvo Ltd. HCL Technologies Ltd. Infosys Ltd. Tata Consultancy Services Ltd. Transportation Adani Port & Special Economic Zone Hedge Positions Reliance Industries Ltd. Reliance Industries Ltd. - Futures HDFC Bank Ltd. HDFC Bank Ltd. - Futures Axis Bank Ltd. Axis Bank Ltd. - Futures Housing Development Finance Ltd. Housing Development Finance Ltd. - Futures Yes Bank Ltd. Yes Bank Ltd. - Futures Aurobindo Pharma Ltd. Aurobindo Pharma Ltd. - Futures Vedanta Ltd. Vedanta Ltd. - Futures LIC Housing Finance Ltd. LIC Housing Finance Ltd. - Futures UPL Ltd. UPL Ltd. - Futures H.P.C.L. H.P.C.L. - Futures Century Textiles & Industries Ltd. Century Textiles & Industries Ltd. - Futures Name of the Instrument Debt Instruments Government Securities GOI % (09/06/2020) Non-Convertible Debentures/Bonds % Rural Electrification Corp. Ltd % NHPC Ltd % Power Finance Corporation % Power Finance Corporation MARGIN DEPOSITS HDFC Bank Ltd. Cash (Placed As Margin Money) 391, % 412, % 600, , % 760, % Sector Allocation 840,000 1,048, % 1,165, % V Ratings ICRA- AAA Unrated Unrated 1,200,000 1,646, % 1,906, % V V Derivative V ,880,000 3,237, % 4,315,199 Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark Source MFI Explorer Power Construction Project Consumer Durables Services Gas Ancillaries Industrial Capital Goods Transportation Petroleum Products Industrial Products Minerals/mining Pesticides Finance 3.58% 3.32% 3.% 2.79% 2.60% 2.35% 2.19% 1.59% 1.25% 1.17% 1.15% 0.99% 0.96% 0.65% 0.54% 0.40% 0.32% 0.21% 5.32% 0.00% 2.00% 4.00% 6.00% 9.87% Market Capitalisation wise Exposure Large Cap 75.% Mid Cap 24.90% Small Cap 0.00% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). Note The scheme was earlier known as Tata Monthly Income, effective from 27 July, 2015 the Scheme will be known as Tata Savings Equity. Due to change in type of scheme, investment objective, investment pattern and investment strategy, past performance of the scheme may not be used for prediction of future performance of the scheme. are given for monthly income option. While calculating returns, dividend distribution tax has been taken care of. The returns given above are for Individual and HUF category. Benchmark CRISIL MIP Blended Index. Date of Allotment 27 April, Top Holdings Equity, Top Sector and Market Capitalisation wise Exposure represents the unhedged equity positions only. Erstwhile Tata Monthly Income with Asset Allocation of Debt-Equity (90%-%) restructured as Tata Savings Equity w.e.f. 27 July, 2015 with Asset Allocation of Debt-Equity (35%-65%). The impact of the same is visible in the Portfolio turnover. 15

16 Tata Balanced (An Open-Ended Balanced Scheme) Invests 65 75% investment in Equity & equity related instruments & 25 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.) To provide income distribution and / or medium to long term capital gains while at all times emphasising the importance of capital appreciation. October 8, 1995 FUND MAGER Atul Bhole (Managing Since Jan-12 and overall experience of 11 years) (Equity) & Akhil Mittal(Managing Since July-15 and overall experience of 14 years) (Debt) Crisil Balanced Index V - Growth - Dividend - Monthly Dividend Reg - Growth Reg - Dividend Reg - Monthly Dividend Rs (Rs. in Cr.) Rs (Rs. In Cr.) TURN OVER Portfolio Turnover (Total) % Portfolio Turnover (Equity component only) 24.99% **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Sharpe Ratio MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer to Pg 44 Modified Duration 5.03 Years Average Maturity 8.06 Years Gross Yield to Maturity (For Debt Component) i. Including NCA* ii. Excluding NCA* *NCA - Net Current 7.95% 7.95% 1% if redeemed on or before expiry of 365 days from the date of allotment (w.e.f. 6th April, 2015) Company Name Equity & Equity Related Total Eicher Motors Ltd. Ancillaries Amara Raja Batteries Ltd. HDFC Bank Ltd. Axis Bank Ltd. Kotak Mahindra Bank Indusind Bank Ltd. Yes Bank Ltd. Shree Ltd. Ultratech Ltd. Construction Kajaria Ceramics Ltd. Construction Project Sadbhav Engineering Ltd. Asian Paints (India) Ltd. Hindustan Unilever Ltd. Britannia Industries Ltd. Industrial Capital Goods Bharat Electronics Ltd. Media & Entertainment Zee Entertainment Enterprises Ltd. Sun Pharmaceutical Industries Ltd. Glenmark Ltd. Strides Shasun Ltd. Power Power Grid Corporation Of India Ltd. Services Aditya Birla Nuvo Ltd. HCL Technologies Ltd. Infosys Ltd. Tata Consultancy Services Ltd. Transportation Adani Port & Special Economic Zone Other Equities^ Name of the Instrument Ratings Debt Instruments Government Securities GOI % (19/03/2030) GOI % (28/07/2024) V Name of the Instrument Ratings CBLO Repo Net Current Liabilities Net SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B Crisil Balanced Index B Crisil Balanced Index (Inception date 08-Oct-1995) (First Installment date 01-Feb-1996) Top Holdings Equity Issuer Name HDFC Bank Ltd. Aditya Birla Nuvo Ltd. HCL Technologies Ltd. Axis Bank Ltd. Sun Pharmaceutical Industries Ltd. Power Grid Corporation Of India Ltd. Glenmark Ltd. Infosys Ltd. Kotak Mahindra Bank Asian Paints (india) Ltd. Total No. of Shares , % 118, % V , % 412, % GOI % (20/05/2023) GOI % (22/06/2024) GOI % (02/06/2028) GOI % (02/08/2022) GOI % (21/09/2027) GOI % (15/12/2023) GOI % (15/02/2027) GOI % (01/12/2044) GOI % (25/05/2025) GOI % (/12/2020) GOI % (03/05/2020) GOI % (22/06/2045) SDL Tamilnadu 8.14% (27/05/2025) Non-Convertible Debentures/Bonds % HDFC Ltd % HDFC Ltd % Reliance Jio Infocomm Ltd % EXIM % Nuclear Power Corp Ltd % Indiabulls Housing Finance Ltd % LIC Housing Finance Ltd % Shriram Trans. Fin. Co. Ltd % Power Finance Corporation % Rural Electrification Corp. Ltd % Power Finance Corporation % Rural Electrification Corp. Ltd % Nabha Power Ltd % Power Finance Corporation % Talwandi Sabo Power Ltd % Mahindra & Mahindra Financial Services Ltd % LIC Housing Finance Ltd % State Bank Of India % Power Finance Corporation % IDFC Bank Ltd % Blue Dart Express Ltd % Blue Dart Express Ltd % Blue Dart Express Ltd. Privately Placed/Unlisted/ZCB IL&FS Ltd. - ZCB 600, , % 766, % Sector Allocation 840,000 1,613, % 1,182, % CARE- AAA CARE- AAA CRISIL- AA+ ICRA- AAA CRISIL- AA SO IND AAA ICRA- AAA ICRA- AA ICRA- AA ICRA- AA ICRA- AAA ^ Exposure less than 1% has been clubbed under Other Equities 1,200,000 2,825, % 1,931, % V ,390,000 20,573, % 7,566,622.45% Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark Source MFI Explorer Construction Project Finance Services Construction Transportation Power Industrial Capital Goods Media & Entertainment Ancillaries Industrial Products Chemicals Pesticides Textile Products Petroleum Products Gas Consumer Durables Engineering Services Telecom - Equipment & 3.89% 3.72% 3.06% 3.02% 2.91% 2.57% 2.48% 2.48% 2.35% 2.13% 2.13% 1.84% 1.81% 1.02% % 0.96% 0.89% 0.89% 0.80% 0.48% 0.46% 8.04% 7.17% 6.31% 11.79% Minerals/mining 0.00% 5.00%.00% 15.00% V Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 64.73% 31.34% 3.94% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 0 (Based on internal calculation). V Movement Tata Balanced - Reg Crisil Balanced Index

17 Tata Dynamic Bond (An Open-Ended Debt Scheme) [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 Jun-14 and overall experience of 14 years I-Sec Composite Index V - Growth - Dividend Reg - Growth Reg - Dividend Rs (Rs. in Cr.) Rs (Rs. In Cr.) **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Modified Duration Average Maturity 6.66 Years.86 Years Gross Yield to Maturity (For Debt Component) i. Including NCA* ii. Excluding NCA* *NCA - Net Current MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter % 7.98% Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer Pg 44 Entry Load Not Applicable Exit Load 0.50 V if redeemed on or before expiry of 180 days from the date of allotment. Name of the Instrument Debt Instruments Government Securities GOI % (19/03/2030) GOI % (02/06/2028) GOI % (28/07/2024) GOI % (20/05/2023) GOI % (/11/2033) GOI % (15/12/2023). GOI % (26//2055) Non-Convertible Debentures/Bonds % Reliance Jio Infocomm Ltd % LIC Housing Finance Ltd % Nuclear Power Corp Ltd % Reliance Utility And Power Private Ltd % EXIM % L&T Infra Debt Ltd. Ratings V Name of the Instrument CBLO Repo Cash / Net Current Asset Net Ratings V SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B I-Sec Composite Index B I-Sec Composite Index Total Value of AB Crisil Yr Gilt Index AB Crisil Yr Gilt Index 123, % 124, % 124, % 415, % 417, % 407, % 600, , % 763, % 725, % 840,000 1,151, % 1,150, % 1,064, % 1,200,000 1,809, % 1,877, % 1,685, % 1,470,000 2,383, % 2,496, % 2,190, % (Inception date 03-Sep-2003) (First Installment date 01-Oct-2003) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 7.61% Maturity Ladder Cash & Others Abv Yrs 7 - Yrs 3-7 Yrs 1-3 Yrs 0-1 Yrs 80.19% 1.61% 2.99% 0.00% 6.01% 12.20% A1+ / AAA Sov Cash & Cash Equivalents 31.73% 57.68% 0.00% 20.00% 40.00% 60.00% Instrument Wise Composition 7.61% 80.19% 12.20% V Movement Tata Dynamic Bond - Reg NCD - Non Convertible Deb Government Securities Cash & Cash Equivalents I-Sec Composite Index 90 17

18 Tata Income Plus (An Open-Ended Debt Scheme) Aims to invest in longer duration paper in the favourable interest rate scenario. However the average portfolio maturity is subject to internal cap. To provide income distribution and / or medium to long term capital gains while at all times emphasising the importance of safety and capital appreciation. November 11, 2002 FUND MAGER Akhil Mittal (Managing Since Jun-14 and overall experience of 14 years) Crisil Composite Bond Index V - Growth - Bonus Reg - Growth Reg - Dividend Name of the Instrument Ratings Debt Instruments Government Securities GOI % (19/03/2030) GOI % (28/07/2024) GOI % (/11/2033) GOI % (02/06/2028) GOI % (09/06/2020) Non-Convertible Debentures/Bonds % Reliance Jio Infocomm Ltd % Aditya Birla Nuvo Ltd % Petronet LNG Ltd % Pantaloons Fashion & Retail Ltd % Power Finance Corporation % Rural Electrification Corp. Ltd. ICRA- AA+ ICRA- AA+ ICRA- AA V Name of the Instrument Repo Cash / Net Current Asset Net Ratings V Rs.8.59 (Rs. in Cr.) Rs (Rs. In Cr.) **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. Modified Duration Average Maturity MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Years 8.74 Years Gross Yield to Maturity (For Debt Component) i. Including NCA* ii. Excluding NCA* *NCA - Net Current 8.03% 8.24% Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer Pg 44 1 V if redeemed on or before expiry of 365 days from the date of allotment. SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B Crisil Composite Bond Index B Crisil Composite Bond Index Total Value of AB Crisil Yr Gilt Index AB Crisil Yr Gilt Index 123, % 125, % 124, % 407, % 416, % 407, % 600, , % 755, % 725, % 840,000 1,118, % 1,134, % 1,064, % 1,200,000 1,761, % 1,805, % 1,685, % 1,560,000 2,502, % 2,558, % 2,369, % (Inception date 11-Nov-2002) (First Installment date 01-Jan-2003) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 50.94% 6.02% 18.61% 24.43% A1+ / AAA AA+ / AA Sov Cash & Cash Equivalents Instrument Wise Composition 50.94% 6.01% 43.05% NCD - Non Convertible Deb Government Securities Cash & Cash Equivalents Maturity Ladder Cash & Others 2.55% Abv Yrs 35.79% 7 - Yrs 33.70% 3-7 Yrs 9.36% 1-3 Yrs 9.15% 0-1 Yrs 9.45% 0.00%.00% 20.00% 30.00% 40.00% V Movement Tata Income Plus - Reg Crisil Composite Bond Index

19 Tata Income (An Open-Ended Debt Scheme) An income scheme with exposure to rated debt instruments with medium to long term maturity. To provide income distribution and / or medium to long term capital gains while at all times emphasising the importance of safety and capital appreciation. April 28, 1997 FUND MAGER Akhil Mittal (Managing Since Jun-14 and overall experience of 14 years) Crisil Composite Bond Index V - Growth - Half Yearly Dividend - Quarterly Dividend - Bonus Reg - Growth Reg - Half Yearly Dividend Reg - Quarterly Dividend Reg- Periodic Dividend Reg - Bonus Rs (Rs. in Cr.) Rs (Rs. In Cr.) Modified Duration Average Maturity MINIMUM INVESTMENT/ Half Yearly Dividend Plan, Periodic Dividend Plan, Growth Plan, Bonus Plan Rs. 5,000/- and in multiples of Re. 1/- thereafter. Quarterly Dividend Plan Rs.,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter Years 9.51 Years Gross Yield to Maturity (For Debt Component) i. Including NCA* ii. Excluding NCA* *NCA - Net Current Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 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) For calculation methodology please refer Pg The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. 7.72% 7.99% Name of the Instrument [ICRA]AAAmfs rating by ICRA$ Debt Instruments Government Securities GOI % (19/03/2030) GOI % (28/07/2024) GOI % (02/06/2028) GOI % (20/05/2023) GOI % (15/12/2023). GOI % (/11/2033) SDL Tamilnadu 8.56% (23/01/2023) SDL Gujarat 8.15% (26/11/2025) SDL Karnataka 8.05% (25/02/2025) Non-Convertible Debentures/Bonds % IOT Utkal Energy Services Ltd % Reliance Jio Infocomm Ltd % Reliance Utility And Power Private Ltd % Reliance Jio Infocomm Ltd % Power Finance Corporation Ratings (SO) CARE- AAA ICRA- AAA V Name of the Instrument CBLO Repo Cash / Net Current Asset Net Ratings V SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B Crisil Composite Bond Index B Crisil Composite Bond Index Total Value of AB Crisil Yr Gilt Index AB Crisil Yr Gilt Index 123, % 125, % 124, % 411, % 416, % 407, % 600, , % 755, % 725, % 840,000 1,126, % 1,134, % 1,064, % 1,200,000 1,759, % 1,805, % 1,685, % 2,2,000 4,549, % 4,161, % 4,099, % (Inception date 28-Apr-1997) (First Installment date 01-Aug-1997) Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 12.35% Maturity Ladder Cash & Others Abv Yrs 7 - Yrs 3-7 Yrs 1-3 Yrs 0-1 Yrs 74.08% 3.37% 3.65% 1.44% 13.57% 11.26% A1+ / AAA Sov Cash & Cash Equivalents 32.55% 47.73% 0.00%.00% 20.00% 30.00% 40.00% 50.00% Instrument Wise Composition 3.55% 12.35% 70.53% 13.57% NCD - Non Convertible Deb Government Securities State Development Loans Cash & Cash Equivalents V Movement Tata Income - Reg Crisil Composite Bond Index

20 Tata Short Term Bond (An Open-Ended Debt Scheme) [ICRA]AAAmfs rating by ICRA$ A debt scheme that invests in short term debt instruments having high level of liquidity. To create a liquid portfolio of debt as well as Money Market Instruments so as to provide reasonable returns and liquidity to the Unitholders. August 8, 2002 FUND MAGER Akhil Mittal (Managing Since Jun-14 and overall experience of 14 years) Crisil Short Term Bond Index V - Growth - Dividend Reg - Growth Reg - Dividend Rs (Rs. in Cr.) Rs (Rs. In Cr.) Modified Duration Average Maturity MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load Years 2.91 Years Gross Yield to Maturity (For Debt Component) i. Including NCA* ii. Excluding NCA* *NCA - Net Current Risk-free rate based on the FBIL Overnight MIBOR rate of 7.03% as on Dec 31, 2015 For calculation methodology please refer Pg **Note The rates specified are the actual weighted average expenses charged for the month of Dec 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-15 cities assets, wherever applicable. 8.09% 8.18% 0.50 V if redeemed on or before expiry of 30 days from the date of allotment. Name of the Instrument Debt Instruments Government Securities GOI % (09/06/2020) GOI % (15/12/2023). GOI % (20/05/2023) Privately Placed/Unlisted/ZCB IL&FS Ltd. - ZCB Money Market Instruments Canara Bank - CD IDBI Bank Ltd. - CD Treasury Bill 91 Days (03/03/2016) Vijaya Bank - CD ICICI Bank Ltd. - CD Fullerton India Credit Co Ltd. - CP Barclays Investments & Loans (India) Ltd. - CP Daimler Financial Services India Private Ltd. - CP Andhra Bank - CD Indiabulls Housing Finance Ltd. - CP J.M. Financial Products Ltd. - CP ICICI Bank Ltd. - CD Axis Bank Ltd. - CD J.M. Financial Products Ltd. - CP Fullerton India Credit Co Ltd. - CP Oriental Bank Of Commerce - CD Oriental Bank Of Commerce - CD Canara Bank - CD J.M. Financial Products Ltd. - CP HDFC Ltd. - CP UCO Bank - CD Non-Convertible Debentures/Bonds/ZCB % Reliance Jio Infocomm Ltd % Reliance Jio Infocomm Ltd % Tata Power Company Ltd % Tata Capital Financial Services Ltd % Piramal Enterprises Ltd % EXIM % Nabha Power Ltd. Bajaj Finance Ltd. - ZCB % HDFC Ltd % Power Finance Corporation % HDB Financial Services Ltd % HDFC Ltd % HDFC Ltd % HDFC Ltd % Power Finance Corporation % Power Finance Corporation % Bajaj Finance Ltd % Shriram City Union Finance Ltd. Ratings ICRA- AAA CARE- A1+ CARE- A1+ IND A1+ CARE- A1+ CARE- AAA ICRA- AA CRISIL- AA+ ICRA- AA SO CRISIL- AA+ CRISIL- AA+ CARE- AA V Name of the Instrument Ratings CBLO Repo Cash/Net Current Net SIP - If you had invested INR 000 every month 1 Year 3 Year 5 Year 7 Year Year Since Inception Total Value of B Crisil Short Term Bond Index B Crisil Short Term Bond 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) 124, % 125, % 125,4 8.00% 412, % 413, % 406, % 600, , % 754, % 728, % 840,000 1,146, % 1,140, % 1,082, % 1,200,000 1,874, ,842, % 1,692, % 1,600,000 2,863, ,756, % 2,479, % Past performance may or may not be sustained in the future. greater than 1 year 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. *B Benchmark, AB Additional Benchmark Source MFI Explorer Composition by Ratings 26.83% 14.79% 2.76% 55.62% A1+ / AAA AA+ / AA Sov Cash & Cash Equivalents % Power Finance Corporation % Shriram Trans. Fin. Co. Ltd % LIC Housing Finance Ltd % HDFC Ltd % Rural Electrification Corp. Ltd % L & T Infrastucture Finance Co Ltd. 09. % Tata Motors Finance Ltd % Kotak Mahindra Investments Ltd % Power Finance Corporation % Nabha Power Ltd % IOT Utkal Energy Services Ltd % IDFC Bank Ltd % Power Finance Corporation % L&T Fincorp Ltd % LIC Housing Finance Ltd % BARD Indiabulls Housing Finance Ltd. - ZCB % Power Finance Corporation % Shriram Trans. Fin. Co. Ltd % L&T Infra Debt Ltd..23 % Shriram Trans. Fin. Co. Ltd. Kotak Mahindra Investments Ltd. - ZCB % HDFC Ltd % Rural Electrification Corp. Ltd. HDFC Ltd. - ZCB % LIC Housing Finance Ltd % IDFC Bank Ltd % Power Finance Corporation % Power Finance Corporation % BARD % Rural Electrification Corp. Ltd. Instrument Wise Composition 11.16% 2.25% 2.43% 13.96% 25.35% CRISIL- AA+ CARE- AA+ CRISIL- AA ICRA- AAA (SO) ICRA- AAA CARE- AA+ CARE- AAA CRISIL- AA+ CRISIL- AA+ ICRA- AAA ICRA- AAA ICRA- AAA ICRA- AAA 44.85% NCD - Non Convertible Deb Government Securities Zero Coupon Bonds Treasury Bills Commercial Papers Certificate Of Deposit V Maturity Ladder Cash & Others 1.52% Abv Yrs 0.00% 7 - Yrs 11.95% 3-7 Yrs 33.70% 1-3 Yrs 21.89% 0-1 Yrs 30.93% 0.00%.00% 20.00% 30.00% 40.00% V Movement Tata Short Term Bond - Reg Crisil Short Term Bond Index