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Agusto & Co. hereby affirms the AA(IM) rating assigned to ARM Investment Managers Limited

Rating Release

Agusto & Co. hereby affirms the AA(IM) rating assigned to ARM Investment Managers Limited

Rating expires 2 June 2022.

Agusto & Co. hereby affirms the AA(IM) rating assigned to ARM Investment Managers Limited (“ARM IM” or “the Manager”). The rating is supported by the Manager’s defined and established processes for research, investment decision making and risk management. The rating takes into consideration the weak macroeconomic environment which has the potential to dampen investment performance and heighten business risk. Specifically, Agusto & Co believes ARM IM will need to demonstrate a greater ability to manage interest rate risk, particularly with its growing suite of collective investment schemes, and retain talent at senior levels.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.