Index Factsheet

MSCI India Domestic Large Cap Index (INR)

The MSCI India Domestic Large Cap Index is designed to measure the performance of the large cap segments of the domestic
Indian market. The index is based on the MSCI Global Investable Market Indexes and use the Domestic Inclusion Factor (DIF) as
the free-float adjustment factor for the market capitalization of each security.

CUMULATIVE INDEX PERFORMANCE — GROSS RETURNS (INR) ANNUAL PERFORMANCE (%)

(JUL 2008 – JUL 2023) MSCI India MSCI EM MSCI India
Year Domestic Large Cap Large Cap
Large Cap
MSCI India Domestic Large Cap 540.04
2022 6.51 -11.50 4.61
MSCI EM Large Cap 2021 24.25 -2.13 28.06
MSCI India Large Cap 464.31
2020 15.09 22.83 18.48
2019 15.26 22.43 12.65
400 2018 5.93 -6.51 3.80
2017 30.37 29.95 27.08
2016 2.83 15.83 -0.03
290.39 2015 -1.49 -10.81 -1.84
2014 33.22 0.28 25.87
200 2013 8.89 10.40 9.26
2012 30.17 21.95 27.21
2011 -24.63 -1.89 -24.94
2010 18.37 14.03 17.38
50 2009 86.32 68.53 89.14
Jul 08 Oct 09 Jan 11 Apr 12 Jul 13 Oct 14 Jan 16 Apr 17 Jul 18 Oct 19 Jan 21 Apr 22 Jul 23

INDEX PERFORMANCE — GROSS RETURNS (%) (JUL 31, 2023) FUNDAMENTALS (JUL 31, 2023)
ANNUALIZED

1 Mo 3 Mo 1 Yr YTD 3 Yr 5 Yr 10 Yr MaySince Div Yld (%) P/E P/E Fwd P/BV

30, 2008

MSCI India Domestic Large

2.60 9.28 12.68 6.58 21.15 12.42 14.47 10.69 1.33 23.45 19.42 3.46
Cap
MSCI EM Large Cap 6.50 9.15 11.86 10.76 4.19 5.58 7.04 6.28 3.17 13.67 12.46 1.73

MSCI India Large Cap 3.20 10.66 10.95 6.15 20.51 12.67 12.90 9.60 1.34 24.51 20.01 3.53

INDEX RISK AND RETURN CHARACTERISTICS (JUL 31, 2023)

ANNUALIZED STD DEV (%) 2 MAXIMUM DRAWDOWN
Turnover 3 Yr 5 Yr 10 Yr (%) Period YYYY-MM-DD
(%) 1

MSCI India Domestic Large

2.34 14.39 18.90 16.41 51.94 2008-05-30—2009-03-05
Cap
MSCI EM Large Cap 5.53 15.84 16.86 14.84 55.40 2008-05-30—2008-10-27

MSCI India Large Cap 4.43 14.13 18.48 15.86 52.10 2008-05-30—2009-03-05
1 2
Last 12 months Based on monthly gross returns data

The MSCI India Domestic Large Cap Index was launched on Apr 16, 2015. Data prior to the launch date is back-tested test (i.e. calculations of how the index might have performed
over that time period had the index existed). There are frequently material differences between back-tested performance and actual results. Past performance -- whether actual
or back-tested -- is no indication or guarantee of future performance.

MSCI India Domestic Large Cap Index (INR) | msci.com

JUL 31, 2023 Index Factsheet

INDEX CHARACTERISTICS TOP 10 CONSTITUENTS

MSCI India Domestic Large Cap Float Adj Mkt Index Sector
Number of 55 Cap Wt. (%)
( INR Billions)
Constituents HDFC BANK 11,753.17 14.89 Financials
Mkt Cap ( INR Millions)
RELIANCE INDUSTRIES 7,761.23 9.84 Energy
Index 78,911,112.97
ICICI BANK 6,622.72 8.39 Financials
Largest 11,753,167.93 INFOSYS 4,499.36 5.70 Info Tech
Smallest 205,189.39 TATA CONSULTANCY 3,129.82 3.97 Info Tech
Average 1,434,747.51 LARSEN & TOUBRO 2,826.44 3.58 Industrials
Median 625,651.60 AXIS BANK 2,641.78 3.35 Financials
ITC 2,604.48 3.30 Cons Staples
KOTAK MAHINDRA BANK 2,397.29 3.04 Financials
HINDUSTAN UNILEVER 2,105.89 2.67 Cons Staples
Total 46,342.19 58.73

FACTORS - KEY EXPOSURES THAT DRIVE RISK AND RETURN

MSCI FACTOR BOX MSCI FaCS
UNDERWEIGHT NEUTRAL OVERWEIGHT
VALUE
Relatively Inexpensive Stocks

LOW SIZE
Smaller Companies

MOMENTUM
Rising Stocks

QUALITY
Sound Balance Sheet Stocks

YIELD
Cash Flow Paid Out

LOW VOLATILITY
Lower Risk Stocks

MSCI FaCS provides absolute factor exposures

relative to a
<-1.5 0 +1.5< broad global index - MSCI ACWI IMI.
MSCI India Domestic Large Cap MSCI EM Large Cap
Neutral factor exposure (FaCS = 0) represents
MSCI ACWI IMI.

SECTOR WEIGHTS
7.35%
9.35%
7.01%

12.54% 5.06%

2.82%

2.72%
13.02%
2.52%

37.61%

Financials 37.61% Information Technology 13.02% Energy 12.54%

Consumer Staples 9.35% Consumer Discretionary 7.35% Materials 7.01%

Industrials 5.06% Utilities 2.82% Health Care 2.72%

Communication Services 2.52%

MSCI India Domestic Large Cap Index (INR) | msci.com

JUL 31, 2023 Index Factsheet

INDEX FRAMEWORK
The Indexes are based on the MSCI Global Investable Market Indexes and use the Domestic Inclusion Factor (DIF) as the free-float
adjustment factor for the market capitalization of each security.

This summary is provided for illustrative purposes only and does not include all material elements of the index or its methodology. For a complete
description of the index methodology, please see Index methodology - MSCI.

MSCI FACTOR BOX AND FaCS FRAMEWORK (Please refer to complete description of the MSCI FaCS methodology here)
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios. MSCI FaCS consists
of Factor Groups (e.g. Value, Size, Momentum, Quality, Yield, and Volatility) that have been extensively documented in academic
literature and validated by MSCI Research as key drivers of risk and return in equity portfolios. These Factor Groups are constructed
by aggregating 16 factors (e.g. Book-to-Price, Earnings/Dividend Yields, LT Reversal, Leverage, Earnings Variability/Quality, Beta)
from the latest Barra global equity factor risk model, GEMLT, designed to make fund comparisons transparent and intuitive for use.
The MSCI Factor Box, which is powered by MSCI FaCS, provides a visualization designed to easily compare absolute exposures
of funds/indexes and their benchmarks along 6 Factor Groups that have historically demonstrated excess market returns over
the long run.

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MSCI India Domestic Large Cap Index (INR) | msci.com