#1Schroders Schroders Global Investor Study 2022 - Belgium results A global study of end investor engagement, behaviours and perceptions The data contained in this presentation is strictly under embargo until the relevant dates of its public release. Marketing materia for use with media only#2Global summary Worldwide trends The Schroders Global Investor Study 2022 illustrated that people* worldwide hold the following views on investing: More people believe that they have expert/advanced financial knowledge: People believe that they have a high level of knowledge around investment, with 57% of people self purporting to have expert/advanced knowledge (which has increased 16 percentage points since 2021). Investors want decision making power: - A majority of global investors feel that, as retail shareholders, they should have power to influence corporate decision making, but many do not feel empowered to do so. The level of empowerment varies according to the type of investments that people are making. 71% of those investing in crowdfunding feel that they have the power to influence corporate decision making, as opposed to 54% of those investing in cash savings/bank accounts. Investors are still anxious: - Investors are feeling under pressure to make investment decisions that are sometimes at the cost of long-term gains. 49% of them admit that they sometimes make decisions that they later regret. 60% of investors are still feeling that the performance of their investments has a direct impact on their mental wellbeing, even if this had decreased slightly since 2021. Sustainable investing is still attractive: Sustainable funds are still seen as attractive, with 45% of global investors seeing them as attractive because of the wider environmental impact, 42% because of their own societal principles. 54% of investors have even found sustainability to be a more attractive thematic investment in the past six months. 1 *This research defines "people" as those who will be investing at least €10,000 (or the equivalent) in the next 12 months and who have made changes to their investments within the last 10 years." Source: Schroders Global Investor Study, conducted between 18th February - 7th April 2022 Schroders#32 Local overview: Belgium Theme 1: The empowered investor Schroders#4Local overview Theme 1: The empowered investor Investment knowledge People are aware of their financial knowledge: - 67% of people with expert/advanced investment knowledge* correctly identified the inverse relationship between interest rates and bonds, as opposed to 28% in the intermediate category and 10% in the beginner/rudimentary category, implying that their self purported level of investment knowledge is accurate. Responsibility for imparting financial knowledge is shared: - - 50% of people believe that financial providers (e.g., investment companies) should be responsible for the ensuring that people have sufficient levels of knowledge on personal financial matters. 38% believe that education/schooling has a role to play in educating people about financial matters. 35% believe that it should be financial advisers. - 28% believe that governments/regulators. 28% believe it should be family members. - 19% believe it should be employers. - 9% believe it should be people themselves. Confidence around making investment decisions: - 76% of people agree that they have sufficient knowledge to feel confident in making investment decisions that affect their future. *Self purported Source: Schroders Global Investor Study, conducted between 18th February - 7th April 2022 3 Schroders#5Local overview Theme 1: The empowered investor Investment knowledge - People with more investment knowledge feel more empowered to influence corporate decision making in the companies they are invested in: 77% of people with expert/advanced investment knowledge feel empowered to influence corporate decision making, whilst only 27% of those with beginner/rudimentary knowledge feel empowered to do so. Empowerment varies by investment type: - 37% of people investing in crowdfunding feel empowered to influence decision making, as opposed to 55% of those investing in cash savings/bank accounts. Attractive investment themes: 45% find real estate investments as well as internet and technology more attractive in the last six months. While real estate has increased 2 percentage points since 2021, internet and technology has decreased by 17 percentage points. This is followed by sustainability (48%). *Self purported Source: Schroders Global Investor Study, conducted between 18th February - 7th April 2022 4 Schroders#6Local overview Theme 1: The empowered investor Investor interests and behaviour Diverse interest in private asset classes: - People are showing interest in a diverse range of private assets, with 66% wanting to invest in private equity (e.g. venture capital) followed by digital assets and insurance linked securities both at 55%. People know how to gain exposure: - Many people think they can invest in a range of private asset classes, either directly or through a third-party product. Private equity is the asset class that investors feel most able to invest in with 47% think they can invest in private equity directly and 43% thinking they can invest as part of a third-party product. Investors are increasingly active: 48% of people are making changes to their investment portfolio at least yearly, with the people on average making changes to their portfolio 1.71 times a year. Total annual return expected and actual: - - People are expecting to make on average 9.76% return on their investment portfolios every year, which has decreased since 2021, where the average annual return was 10.73%. The actual annual return on investment that people made on average was 9.70%, slightly less than they expected to make. People want customised funds: - - All investors believe that it is important to invest in funds that are tailored to their principles/needs, however those with expert/advanced investment knowledge value this more (79%). As people gain investment knowledge, their preferences change. Indeed, people with expert/advanced investment knowledge have a diverse range of interests when it comes to the level of customisation they expect from their advisors/brokers, but there is a particular focus on customisation in line with return expectations. Source: Schroders Global Investor Study, conducted between 18th February - 7th April 2022 5 Schroders#76 Local overview: Belgium Theme 2: Sustainability Schroders#8Survey results Theme 2: Sustainability Sustainability drivers and education Drivers of sustainable investments: Of all the drivers that would encourage people to increase their sustainable investments, the most popular was the ability to choose investments that are aligned to their personal sustainability preferences (58%). The next highest drivers would be more education about sustainable investment in general (42%) and Regular reporting showing the impact of my investments on people and the planet (35%). Barriers to sustainable investment: - 52% see Lack of transparency and reported data from providers about the impact of sustainable investments as the biggest barrier to increasing their sustainable investments. The next highest barrier is Lack of clear, agreed definitions on what sustainable investment is (44%). Companies need to be responsible around three major issues: - People feel that it is important for companies to engage with them around issues linked to human capital management (67%), natural capital and biodiversity (66%) and then climate (61%). Education around sustainability is important but overwhelming: Slightly more than two-thirds of the people in Belgium (68%) are growing overwhelmed with the amount of information and education that is available around sustainability which could be acting as a barrier to sustainable investments. 50% of people locally have access and engage with education about sustainable investment in general. They are also engaging with self-certification from the provider of the investment that it is sustainable (40%) and their financial adviser outlining their sustainable investment options (39%). Source: Schroders Global Investor Study, conducted between 18th February - 7th April 2022 7 Schroders#9Survey results Theme 2: Sustainability Attitudes towards sustainability (1) Attitude towards sustainable investments: - Whilst more than two-thirds of the people (68%) understand what makes an investment sustainable, 67% are still sceptical about the impact of their investments on sustainability. Fear of greenwashing is also another barrier towards sustainable investment, with 63% people thinking that providers and financial institutions are greenwashing (i.e. using sustainability as a form of marketing). Attractiveness of sustainable investments: - - 93% of the people recognise the attractiveness of sustainable funds, with 48% of these seeing them as attractive because of the wider environmental impact, which has increased since 2021 (42% in 2021). 46% of people see them as attractive because they are more likely to offer higher returns. 6% of people see sustainable investments as unattractive due to a belief that they won't offer higher returns. 48% of people have found sustainability as a thematic investment to have become more attractive to them in the last six months. Desired impact of sustainable investments: - - When it comes to the desired area of impact of sustainable investments, there is a diverse range of interests, with slightly more people wanting their investments to have an impact on improving the health and wellbeing (46%), quality of education (45%), clear water and sanitation (39%), and reduced inequalities (35%). Other desired areas of impact are climate action (34%), zero hunger (30%), gender equality (28%), eradicating poverty (24%), life below water (10%) and life on land (8%). Source: Schroders Global Investor Study, conducted between 18th February - 7th April 2022 8 Schroders#10Survey results Theme 2: Sustainability Attitudes towards sustainability (2) Sustainability is considered before financial returns: - When considering a sustainable fund, more than a half (52%) of the people want to invest in a fund that has sustainability characteristics e.g. a lower carbon footprint than the benchmark or a higher social benefit. Sustainability still seems to be considered important to people more than the financial returns of the investments they are making. Linking sustainability & profitability: - Although people are showing scepticism around the impact of their sustainable investments, more than half of them (61%) believe that sustainable investments is the only way to ensure profitability in the long term. Despite this scepticism, people are increasingly realising that investment practices have an important role to play in tackling global sustainability issues, with 69% of them agreeing that investment can drive progress in sustainability challenges such as climate change. This shows that there seems to be a contrast between the perceived potential of sustainable investment practices and the reality of the impact of sustainable investments. Climate change is worrying investors: - However, people are also worrying that climate change could have an impact on their investments/returns, with 64% of local investors highlighting that this is a key concern for them. This could be a factor encouraging them to explore sustainable investment strategies. Current sustainable investments: Sustainable funds are being considered in people's investment strategies, with 33% of people highlighting that 11-30% of their investment portfolio is invested in sustainable funds; investing on average 33.18% of their portfolios in sustainable funds. Source: Schroders Global Investor Study, conducted between 18th February - 7th April 2022 9 Schroders#11Survey results 10 % Schroders#12Profiling Age, gender and education Q.AGE. How old are you? Q.GENDER. - Are you: Q.EDUC. Which of the following best describes the highest level of qualifications that you have completed? Age (mean # of Yrs.) 50.3 Highest qualification Gender Female Male Other No formal qualifications 1% 50% 49% 1% 11 Base: Belgium Respondents(n=500) Standard school qualifications 11% Higher/further education qualifications e.g. Degree Additional / second degree e.g. Doctorate 21% Professional / vocational qualifications 24% 44% Schroders#13Profiling Employment status and investment types Q.WORK. Which of the following best describes your current employment status? Q.INVESTS. Which, if any, of the following types of investments, do you currently have money invested in? Employment status In full-time paid employment (30 hours or more per week) In part-time paid employment (less than 30 hours per 9% week) 65% Investment type Investment / Mutual funds, actively managed by a fund manager Retirement-specific investments - where you personally make at least some of the investment... Stocks and Shares 45% 41% 41% Self-employed / contractor / freelance 13% Investment / Mutual funds, not actively managed but tracking a market index or portfolio 37% Cash savings / Bank Account 35% Temporarily unemployed (for less than 6 months) 0% Equity exchange-traded funds (ETF) 26% Long-term unemployed (6 months or more) 1% Retirement-specific investments - where somebody else (e.g. your company) makes all the... 26% Corporate or Government bonds 21% Homemaker 1% Crypto-currencies e.g. Bitcoin, Ethereum, Litecoin 20% Student 1% Retired (including if you still do part-time / voluntary work) 10% Property direct investment Private investments (not widely available) e.g. unlisted companies, a friend's business 17% 12% Crowdfunding 7% 12 Base: Belgium Respondents (n=500) Schroders#14Profiling Investment knowledge and changes in investments Q.KNOW. How would you describe your level of investment knowledge? Q.ACTIVE. Excluding any physical property or real estate investments you might have approximately how often do you make changes to any of your investments? Level of investment knowledge Frequency of changes in investments 13 37% || 25% Expert 28% 18% 22% 21% 19% ... 8% 2% Advanced Intermediate Rudimentary Beginner 8% 8% 4% 10 years More often Once every 3-Once every 6-Once every 1-Once every 2-Once every 3-Once every 5- 12 months 2 years (0.75) 3 years (0.42) 5 years (0.27) (1.33) than once every 3 months (8.00) 6 months (2.67) (0.15) Base: Belgium Respondents (n=500) Schroders#15Survey results Investments held Q.INVESTS: Which, if any, of the following types of investments, do you currently have money invested in? 14 45% 41% 41% 37% 35% 26% 26% 21% 20% 17% 12% 7% Investment / Mutual funds, actively managed by a fund manager Retirement-specific investments - where you personally make at least some of the investment decisions about it, yourself Base: Belgium Respondents (n=500) Stocks and Shares Investment / Mutual Cash savings / Bank funds, not actively managed but tracking Account a market index or portfolio Equity exchange- traded funds (ETF) Retirement-specific investments - where somebody else (e.g. your company) makes all the investment decisions Corporate or Government bonds Crypto-currencies e.g. Bitcoin, Ethereum, Litecoin Property direct investment Private investments (not widely available) e.g. unlisted companies, a friend's business Crowdfunding Schroders#16Survey results Amount invested Q.AMOUNT: Approximately, how much money do you intend to invest in the next 12 months in total, in Equities, Shares, Bonds, Investment Trusts, Funds or Savings Accounts? 15 19% 16% 13% 12% 9% 5% 4% 4% 9% 4% 4% 1% 1% €10,000 - €20,000 - €30,000 - €40,000 - €50,000 - €19,999 (15,000) €29,999 (25,000) €39,999 (35,000) €49,999 €59,999 €60,000 - €69,999 €70,000 - €80,000 - €79,999 €89,999 €90,000 - €99,999 €100,000 - €150,000 - €200,000 - €250,000 or €149,999 €199,999 €249,999 more (275,000) (45,000) (55,000) (65,000) (75,000) (85,000) (95,000) (125,000) (175,000) (225,000) Base: Belgium Respondents (n=500) Schroders#17Survey results Investment activity Q.ACTIVE. Excluding any physical property or real estate investments you might have, approximately how often do you make changes to any of your investments? 16 8% More often than once every 3 months (8.00) 22% 21% 19% 18% Once every 3-6 Once every 6-12 Once every 1-2 months (2.67) years (0.75) months (1.33) Once every 2-3 years (0.42) Base: Belgium Respondents (n=500) 8% 4% Once every 3-5 Once every 5-10 years (0.27) years (0.15) How often do you make changes to any of your investments? # At least yearly 48% # Less often than yearly 52% # Average times per year 1.71 Schroders#18Survey results Annual total (%) return on investment each year, over the next five years Q.2. Thinking about your total investment portfolio over the next five years, what annual total (%) return (i.e. income and capital growth) do you realistically expect to make, on average each year? Q.3. Thinking about your total investment portfolio over the past five years, what annual total (%) return (i.e. income and capital growth) do you think you made, on average each year? Global Europe Belgium 9.76% 9.70% ■The annual total return you realistically expect to make, on average each year ■The annual total return you made, on average each year 17 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) 10.28% 10.30% 11.37% 10.99% Schroders#19Survey results Minimum level of income people would like to receive Q4. Thinking about the income from your investments, (excluding cash savings and any properties), what is the minimum level of income you would like to receive? Q5. And what is the minimum level of income you realistically expect to receive over the next 12 months? 10.13% 9.75% 9.55% 9.56% 9.65% 9.18% Global Europe ■The minimum level of income people would like to receive ■The level of income people realistically expect to receive over the next 12 months 18 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Belgium Schroders#20Survey results Power to influence corporate decision making Q.6. Do you think retail shareholders should have the power to influence corporate decision making (e.g. climate targets)? Belgium 62% Europe 60% Global 60% 26% 8% 4% 30% 7% 4% 29% 6% 4% ■Yes, and I feel empowered to do so Yes, but I do not have the power to do so ■No I don't know 19 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Schroders#21Survey results Investment knowledge Q.7. How important is it to you that the funds you invest in are built around your needs and principles? Belgium 24% 45% 18% 7% 6% Europe 26% 39% 18% 10% 7% Global 27% 39% 17% 10% 8% ■Very important Important ■Neither important, nor unimportant Unimportant ■Very unimportant 20 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Schroders#22Survey results Expect from your broker/financial adviser Q.8. What level of personalization do you expect from your broker/financial adviser? 21 52% 44% 44% 39% 38% 36% 33% 34% 32% 33% 30% 29% 30% 29% 28% 25% 23% 23% 22% 22% 23% 21% 21% 19% Customisation in line with Customisation in line with Customisation in line with my return expectations my preferred investment horizon my acceptable risk exposure Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) my life stage Customisation in line with Customisation in line with Customisation in line with Customisation in line with Customisation in line with my environmental my societal principles my governance principles my political position expectations ■Global Europe Belgium Schroders#23Survey results Investment knowledge Q9. To what extent do you agree with the following statement: "I have sufficient knowledge to feel confident in making investment decisions that affect my future" Belgium 20% 56% 15% 7% 2% Europe 25% 42% 20% 9% 4% Global 26% 41% ■Strongly agree ■Agree ■Neither agree nor disagree ■Disagree ■Strongly disagree 22 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) 19% 10% 4% Schroders#24Survey results Investment knowledge Q.10. Who do you think should be responsible for ensuring that people have a sufficient level of knowledge on personal financial matters? 51% 50% 47% 44% 40% 39% 38% 35% 35% 33% 31% 30% 29% 28% 28% 24% 21% 19% 19% 15% 9% 2% 2% 1% Financial providers e.g. investment company Education/school system Independent financial Governments/regulators Family members Employers People themselves None of the above advisers ■Global ■Europe Belgium 23 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Schroders#25Survey results Bond prices when interest rates rise Q.11. Without looking up the answer, what do you think generally happens to bond prices when interest rates rise? Belgium 50% Europe 50% Global 47% 24 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) ■ Decline Increase ■Are not affected ■I don't know 42% 7% 1% 39% 11% 1% 39% 13% 1% Schroders#26Survey results Investor behaviour Q.12i. Do you think you can invest in any of the following private asset classes? : SUMMARY (% Yes) 50% 47% 47% 47% 47% 45% 45% 45% 44% 43% 43% 42% 41% 40% 39% 38% 37% 37% 36% 35% 31% Private equity (e.g. venture capital) Physical assets (e.g. art, wine) Real estate (e.g. commercial Digital assets (e.g. digital art) property used specifically for Microfinance business or income- generating purposes) Insurance linked securities (financial instruments whose values are driven by insurance loss events) Infrastructure finance ■Global Europe Belgium 25 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Schroders#27Survey results Investor behaviour Q.12ii. Which, if any, of the following private asset classes do you want to be able to invest in? SUMMARY (% Yes) 66% 63% 63% 56% 53% 53% 52% 52% 51% 51% 50% 51% 50% 49% 49% 49% 50% 49% 49% 49% 46% Private equity (e.g. venture capital) Insurance linked securities Digital assets (e.g. digital art) (financial instruments whose Microfinance values are driven by insurance loss events) Real estate (e.g. commercial property used specifically for business or income- generating purposes) Physical assets (e.g. art, Infrastructure finance wine) ■Global Europe Belgium Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) 26 Schroders#28Survey results Investment company focus Q.13. Which areas do you feel it is most important for investors to engage with companies on? SUMMARY (% RANK 1/2/3) 67% 66% 66% 66% 65% 63% 62% 61% 59% 49% 50% 50% 38% 37% 33% 25% 23% 21% Human capital management (e.g. health and safety, wellbeing, compensation & benefit, employee engagement, culture) Natural capital and biodiversity (e.g. deforestation, pollution and chemicals, waste and circular economy, plastic pollution) Climate (e.g. net zero, decarbonisation, physical risks, renewables) ■Global Inclusion and diversity (e.g. board, management and workforce diversity, impact of products and services on diverse communities, gender & ethnic pay gaps) ■Europe Belgium Human rights (e.g. child labour, ethical supply chain, indigenous rights, basic access to products and services, modern slavery) Governance and oversight: (e.g. shareholders' rights, executive and board compensation) 27 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Schroders#29Survey results Sustainable investments Q.14. What would encourage you to increase your sustainable investments? 28 58% 57% 53% 48% 44% 42% 42% 39% 38% 36% 35% 34% 25% 25% 30% 30% 28% 27% 28% 24% 25% 19% 17% 15% The ability to choose More education about investments aligned to sustainable investment my personal sustainability preferences (e.g. social, environmental, or both) in general Regular reporting showing the impact of my investments on people and the planet Data/evidence that shows investing sustainably delivers better returns Third party label (an external confirmation that the investment is sustainable) Self-certification from the provider of the investment that it is sustainable My financial adviser outlining my sustainable investment options My financial adviser telling me they can move my entire portfolio to sustainable funds without any additional fees or complications, while still maintaining the same level of diversification and risk Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) ■Global Europe Belgium 1% 1% 2% None of the above Schroders#30Survey results Sustainable investments - Q.14b. What factors do you consider to be a barrier to increasing your sustainable investments? 52% 51% 50% Lack of transparency and reported data from providers about the impact of sustainable investments 45% 44% 41% 37% 32% 30% 25% 24% 24% 21% 21% 20% 15% 14% 11% 3% 3% 3% Lack of clear, agreed Performance concerns definitions on what sustainable investment is Difficulty measuring and managing risk I don't understand what sustainable investing is Cost None of the above 29 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) ■Global ■Europe Belgium Schroders#31Survey results Sustainable investments Q.15. Which of the following do you have access to with regards to your investments? SUMMARY (% Have Access, and Engage) 30 50% 49% 48% 40% 40% 39% 39% 36% 37% Education about sustainable investment in general Self-certification from the provider of the investment that it is sustainable My financial adviser outlining my sustainable investment options Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) 40% 38% 38% 38% 37% 36% 36% 35% 34% 34% 32% 32% Third party label (an external confirmation that the investment is sustainable) ■Global ■Europe Belgium The ability to choose investments aligned to my personal sustainability preferences (e.g. social, environmental, or both) Data/evidence that shows Regular reporting showing the investing sustainably delivers better returns impact of my investments on people and the planet Schroders#32Survey results Sustainable investments Q.16 To what extent do you agree with the following statements? I believe investment can drive progress in sustainability challenges such as climate change Global 26% 37% Europe Belgium 18% 12% 6% 29% 36% 19% 11% 5% 35% 35% 17% 10% 4% I am sceptical about the actual impact of my investments on sustainability 22% 38% 19% 14% 7% 24% 38% 19% 13% 6% 29% 38% 18% 10% 5% I am overwhelmed with the amount of information I now have to read around 22% 33% 20% 18% 7% 25% 34% 18% 18% 6% 29% 39% 12% 16% 5% sustainability I think providers and financial institutions 'greenwash' (i.e. use sustainability mainly as a 23% 36% 19% 13% 9% 26% 37% 19% 12% 7% 28% 35% 18% 13% 5% form of marketing) I believe investing sustainably is the only way to ensure profitability in the long term 25% 35% 19% 13% 8% 26% 36% 20% 12% 6% 23% 38% 25% 12% 2% I understand what makes an investment 20% 42% 18% 11% 9% 20% 44% 19% 10% 8% 20% 47% 18% 8% 6% sustainable 31 ■Strongly agree ■ Agree ■Neither agree nor disagree Disagree ■Strongly disagree Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Schroders#33Survey results Sustainable funds Q.17. Do you regard sustainable funds, i.e. funds that consider environmental, social and governance factors, as attractive? Q.19. When considering making an investment in a sustainable fund, where would you like to invest? 52% 51% 48% Yes, because of the wider environmental impact Sustainable Funds 36% 36% 46% 43% 41% 41% 11% 8% 6% 2% 2% 1% Yes, because they are more likely to offer higher returns Yes, because of my societal principles No, because they won't offer higher returns ■Global ■Europe Belgium 32 32 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) Sustainable Funds - Investment 56% 51% 52% 48% 49% 48% 39% 33% 33% 21% 14% 14% No, because they don't align with my principles A fund that has sustainability characteristics e.g. a lower carbon footprint than the benchmark or a higher social benefit A fund that focuses primarily on delivering financial returns, while integrating sustainability factors A fund which has an explicit A fund that contributes to objective to have a positive solutions to a specific impact on people and/or sustainable theme or issue the planet e.g. circular economy, energy transition, diversity ■Global ■Europe Belgium Schroders#34Survey results Investments in sustainable funds Q.29. Approximately, what percentage of your entire investment portfolio is invested in sustainable investments? I do not have any sustainable investments (0) Up to 10% (5.5) 11% -30% (20.5) 31%-50% (40.5) 51% -70% (60.5) 3% 4% 5% More than 70% (80.5) 4% 3% 5% Don't know 4% 3% 33 Base: Total Respondents (n=23950); Europe (n=9800); Belgium (n=500) 6% 15% 14% 10% 11% 11% 15% 32% 34% 33% 25% 28% 31% ■ Global ■Europe ■Belgium Schroders#35Background information 34 34 Schroders#36Sample details Sources of data Schroders commissioned alan. agency and iResearch to conduct an independent online survey of 23,950 in 33 locations around the world, between 18th February 7th April 2022. This research defines 'people' as those who will invest at least €10,000 (or the equivalent) in the next 12 months and who have made changes to their investments within the last 10 years.; these individuals represent the views of investors in each location included in the survey. Sweden n=500 Denmark n=500 UK Greece n=1,000 n=300 France Austria n= 1,000 Germany n=1000 Italy n=1,000 n= 500 Spain n=1,000 Portugal n=500 Netherlands n=1,000 Belgium n=500 Switzerland Canada n= 1,000 USA n= 1,500 Mexico n= 1,000 Brazil n= 1,000 Argentina 35 n=500 n= 1,000 Poland Chile n=500 n= 350 China UAE n=1,000 n=400 Hong Kong n=500 Australia n=1,000 Thailand n= 500 South Africa n= 400 India n=1,000 Singapore n=500 Japan n=1,000 South Korea n=500 Taiwan n=500 Indonesia n=500 Malaysia n=500 Schroders#37Important information This information is a marketing communication No responsibility can be accepted for errors of fact or opinion. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. Past Performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of investments to fall as well as rise. Schroders has expressed its own views and opinions in this document and these may change. Information herein is believed to be reliable but Schroders does not warrant its completeness or accuracy. Schroders will be a data controller in respect of your personal data. For information on how Schroders might process your personal data, please view our Privacy Policy available at www.schroders.com/en/privacy-policy/ or on request should you not have access to this webpage. For your security, communications may be recorded or monitored. Issued by Schroder Investment Management (Europe) S.A., 5, rue Höhenhof, L-1736 Senningerberg, Luxembourg. Registration No B 37.799. 36 Schroders