FIRESIDE CHAT: CATHERINE WOOD, CIO/CEO ARK INVEST

Facilitated by Naomi FinniganHead of Private Wealth, Nikko AM

3

Introducing Catherine WoodFounder, CIO/CEO, Ark Invest

Catherine Wood founded ARK in January 2014 after 12 years as the CIO of Global Thematic Strategies for AllianceBernstein. As a thematic investor, Catherine focusses on technologically-enabled disruption that cuts across economic sectors.

Catherine appears regularly on CNBC, Bloomberg, and Fox Business, and has featured in The Wall Street Journal, Forbes, Fortune, Barron’s, and the New York Times. She has been recognised for her vision and impact in the finance industry.

4Confidential – Not For Redistribution. This material must be read in conjunction with the ‘Important Information’ statement on the last page

ARK Invest believes innovation is key to growth. ARKseeks to capture long-term exponential growth and offerscapital appreciation created by disruptive innovation.“

Our philosophy

5Confidential – Not For Redistribution. This material must be read in conjunction with the ‘Important Information’ statement on the last page

Capturing growth opportunitiesFive major innovation platforms

We expect each of these platforms will create multiple trillions in market capitalisation over the next decade, enabling further innovation.

“

6Confidential – Not For Redistribution. This material must be read in conjunction with the ‘Important Information’ statement on the last page

Nikko AM ARK Global Disruptive Innovation FundExposure to the top 10 holdings

TOP 10 HOLDINGS(UNDERLYING FUND)

ELEMENTS WEIGHT (%)

Tesla Motors, Inc.Autonomous vehicles, development of infrastructure, energy storage, big data/ machine learning, Internet of things

9.98

Stratasys Ltd_ 3D printing 7.53

Invitae Corp Molecular diagnostics 7.43

Illumina, Inc. Beyond DNA, bioinformatics, instrumentation 5.98

Square, Inc. Class A E-commerce, big data/ machine learning, mobile 5.83

Intellia Therapeutics Inc. Gene therapy 4.88

Nanostring Technologies Inc. Beyond DNA, bioinformatics, instrumentation 4.72

Nvidia CorporationBig data/ machine learning, mobile, digital media, internet of things, autonomous vehicles, bioinformatics

4.42

Crisper Therapeutics Gene therapy 4.03

Twitter Inc. Social platforms, big data/ machine learning, digital media 3.86

The Nikko AM ARK Global Disruptive Innovation Fund gains exposure to these holdings by investing in the Nikko AM ARK Disruptive Innovation Fund (Underlying Fund), a sub-fund of the Nikko AM Global Umbrella Fund. The Underlying Fund is an open-ended investment company (Company) established under Luxembourg law as a ‘société d’investissement à capital variable’ (SICAV). Holdings are subject to change and should not be

considered as investment advice, or a recommendation to buy, sell or hold any particular security. Source: Nikko AM Australia, ARK Investment Management LLC. Data as at 31 July 2019. Stock and sector mentions are for illustrative purposes only. This is not a recommendation in relation to any named stocks or sectors and no warranty or guarantee is provided that the names will remain within the portfolio.

7Confidential – Not For Redistribution. This material must be read in conjunction with the ‘Important Information’ statement on the last page

Risk-on vs risk-offARK tends to outperform as the market transitions from Risk-off to Risk-on

Risk-Off Performance 8/19/15-10/22/151/3/16-2/11/16

6/10/16-6/30/16

10/11/16-11/6/16

1/29/18-2/11/18

3/13/18-5/3/18

10/3/18-12/24/18

China “Black Monday”

Oil Glut Fears

Brexit US Election”Short Vol”

CrisisTrade

TensionsTrade War / Yield Curve

ARK Representative Portfolio -6.27% -27.76% -1.58% -8.31% -9.36% -11.59% -23.64%

S&P 500 Index -0.97% -10.27% 0.24% -2.31% -8.11% -4.71% -19.25%

MSCI World Index -1.83% -11.52% -0.63% -2.29% -8.16% -3.04% -17.16%

NASDAQ 100 Index -1.83% -14.66% -1.01% -3.73% -7.86% -5.55% -22.62%

Risk-On Performance10/31/14-8/18/15

10/23/15-1/2/16

2/12/16-6/9/16

7/1/16-10/10/16

11/7/16-1/28/18

2/12/18-3/12/18

5/4/18-10/2/18

12/26/18-1/18/19

ARK Representative Portfolio 2.94% 5.58% 31.30% 12.59% 114.92% 15.87% 15.74% 17.73%

S&P 500 Index 5.69% -1.07% 14.27% 3.48% 38.12% 4.99% 10.67% 8.36%

MSCI World Index 3.73% -2.27% 14.72% 4.06% 36.37% 3.97% 5.38% 8.21%

NASDAQ 100 Index 10.51% -0.18% 14.90% 9.95% 47.33% 8.81% 11.49% 9.26%

The Nikko AM ARK Global Disruptive Innovation Fund has exposure to the ARK Disruptive Innovation Strategy by investing in the Underlying Fund. Refer to the Appendix for the Nikko AM ARK Global Disruptive Innovation Fund performance. Risk-off periods are associated with bear markets, corrections, or negative market events, usually coinciding with spikes in market volatility as measured by the VIX index Preliminary information subject to change. The performance presented is based on total market return over the defined periods, as listed in the

table. Data source: Bloomberg The inception date for the representative portfolio of the ARK Disruptive Innovation Strategy managed by ARK Investment Management LLC is 31 Oct 2014.Past performance does not guarantee future results. The performance data represents past performance and current returns may be lower or higher.

8Confidential – Not For Redistribution. This material must be read in conjunction with the ‘Important Information’ statement on the last page

ARK uses a proprietary scoring system to value companies and monitor the underlying investment thesis.

ARK portfolio tracker

1. Company, People, and Culture

2. Execution

3. Moat/Barriers to Entry

4. Product and Service Leadership

5. Valuation

6. Thesis Risk

Any references to particular securities are for illustrative purposes only and are as at the date of the publication of this material. This is not a recommendation in relation to any named securities and no warranty or guarantee is provided. Source: ARK Investment Management LLC, As of 9 Jan 2019.

Meet the teamARK Invest

9Confidential – Not For Redistribution. This material must be read in conjunction with the ‘Important Information’ statement on the last page

Catherine WoodFounder, CEO, and CIO

Prior: AllianceBernstein, CIO Global Thematic Strategies

BS, Finance and Economics, University of Southern California

Prior: AllianceBernstein, Strategic Research Analyst

BS, Mechanical Engineering, Massachusetts Institute of Technology

Prior: Capital One - Wealth Management,Director of Research & Due Diligence

MS, Finance,Loyola University Maryland

Brett WintonDirector of Research

Renato Leggi, CFA, CAIAClient Portfolio Manager

James WangA.I., Next Generation Internet

Prior: NVIDIA, Product Manager

BE, Computer Engineering,University of New South Wales

Tasha Keeney, CFAAutonomous Vehicles, MaaS, 3D Printing

Prior: Applied Value,Management Consultant

BA, Mathematics and Statistics, Boston University

Sam KorusRobotics, Energy Storage, Space

Prior: Graphiq, Business Development

BS, Cognitive Science, University of Pennsylvania

ANALYST TEAM

Manisha SamyTherapeutics, CRISPR, Ag-Biology

Prior: Kepler Cannon,Management Consultant

BS, Life Sciences and Biotechnology, Stanford University

Simon BarnettDNA Sequencing, Molecular Diagnostics

Prior: Aditus Holdings,Finance and Operations

BS, Chemical and Biomolecular Engineering,Johns Hopkins University

Maximilian FriedrichFintech, Venture Capital

Prior: Redstone Venture Capital,Analyst

BS, EconomicsUniversity of Heidelberg, Germany

Yassine ElmandjraBlockchain Technology, Cryptoassets

Prior: Rembrandt Venture Partners,Analyst

BE, Systems Engineering, The University of Pennsylvania

Trading/Support Team

1 Trading Manager

1 Trade and Research Associate

10Confidential – Not For Redistribution. This material must be read in conjunction with the ‘Important Information’ statement on the last page

Nikko AM ARK Global Disruptive Innovation FundPerformance

Total Fund Return (%)

1 month 3 months 6 months 1 year2 years

p.a.

3 years

p.a.

Since

Inception^ p.a.

Fund growth return (net) 2.85 4.47 18.38 - - - 4.02

Fund distribution return (net) 0.00 0.00 0.00 - - - 0.00

Total Fund return (net) 2.85 4.47 18.38 - - - 4.02

MSCI All Country World Index* 2.11 2.65 14.29 - - - 7.67

Source: Nikko AM Australia, BNP Paribas. Total Fund net returns are post fees, pre tax using redemption prices and assume reinvestment of distributions. Fund growth return is the change in redemption prices over the period. Fund distribution return equals Total Fund minus Fund growth return. Past performance is not an indicator of future performance.

^Inception date: August 2018. *Reference Index shown for illustrative purposes only: MSCI All Countries World Index (with net dividends reinvested) expressed in Australian dollars (unhedged). As at 31 July 2019

©2019, ARK Investment Management LLC. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of ARK Investment Management LLC (“ARK”).

Parts of this document were prepared by ARK Investment Management LLC and Nikko Asset Management Co., Ltd. This presentation is issued by Nikko AM Limited ABN 99 003 376 252, AFSL 237563 (Nikko AM Australia). Parts of this document were prepared by Nikko Asset Management Europe Limited, a related entity of Nikko AM Australia. Nikko AM Australia is part of the Nikko AM Group. To the extent that any statement in this material constitutes general advice under Australian law, the advice is provided by Nikko AM Australia. Nikko Asset Management Europe Limited, ARK Investment Management LLC and Nikko Asset Management Co does not hold an AFS Licence. It is for the use of Institutional investors, researchers, licensed financial advisers and their authorised representatives. It does not take into account the objectives, financial situation or needs of any individual. The information in this material has been prepared from what is considered to be reliable information, but the accuracy and integrity of the information is not guaranteed. Figures, charts, opinions and other data, including statistics, in this material are current as at the date of publication, unless stated otherwise. The graphs and figures contained in this material include either past or backdated data, and make no promise of future investment returns. Forecasts cannot be guaranteed. Past performance is not an indicator of future performance. Whilst we believe the information contained in this material to be correct as at the date of presentation, no warranty of accuracy or reliability is given and no responsibility is accepted for errors or omissions. Any economic or market forecasts are not guaranteed. Any references to particular securities or sectors are for illustrative purposes only and are as at the date of publication of this material. This is not a recommendation in relation to any named securities or sectors and no warranty or guarantee is provided.

Nikko Asset Management Australia Limited (ABN 34 002 542 038, AFSL 229664 ) is the responsible entity and issuer of units in the Nikko AM ARK Global Disruptive Innovation Fund (ARSN 627 341 744 ). Investors should consult a financial adviser as well as the information contained in the Funds’ Product Disclosure Statements (PDS) and the ‘Additional Information to the PDS’ which are available at www.nikkoam.com.au/pds before deciding to invest in the Funds. Applications will only be accepted if made on a current application form. An investment in the Funds is not a bank deposit and distributions and the return of capital are not guaranteed.

Nikko AM LimitedLevel 26, One International Towers Sydney, 100 Barangaroo AvenueBarangaroo NSW 2000, Australia GPO Box 3881, Sydney, NSW 2001, AustraliaPhone: + 61 (0) 2 8072 6300Fax: + 61 (0) 2 8072 6304Email: enquiries.au@nikkoam.com

Important information