1. Aim The primary objective of the Fund is to achieve an annual income return of 20% more than the benchmark yield and thereafter long-term capital growth in real terms. Benchmark Income To achieve an annual income return of 20% more than the benchmark yield. NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 30 September 2013 Fund Information Launch Date1965 Fund Size£31.6M Share Price1057.62p Dividend Payment DatesJun & Dec Year End30 Sept CurrencySterling Annual Management Fee0.35% CurrencySterling Key Details Long-term Total Return (Gross) Northern Ireland Central Investment Fund for Charities is a registered charity. Charity Tax Reference Number XR 3429. This is a financial promotion and is not intended as investment advice. Background The Northern Ireland Central Investment Fund for Charities (NICIFC) was set up in 1965 through the Charities Act (Northern Ireland) 1964, with the aim of providing Charities with the opportunity to invest all or part of their assets in a centrally pooled fund, administered by the Department for Social Development. The Fund is managed by recognised fund managers, with its investment policy and performance reviewed on a quarterly basis by a locally based Advisory Committee, appointed by the Department. The NICIFC operates as a Discretionary Managed Fund, with participating Charities allocated a proportionate number of shares based on the size of their investment and the most recent valuation (share price). The Fund invests in Fixed-interest securities, UK & Foreign Equities and selected Unitised Funds. The allocation between these asset classes is reviewed and adjusted periodically, in line with the Fund’s investment policy. Risk Factors Fund Performance 3 months to 30 -09-13 3 Years Annualised FTA Govt All Stocks25% FTSE All Share50% FTSE World ex UK20% LIBID 7 Day5% NICIFC2.8% 9.14% Composite Benchmark3.1% 8.49% Yield on Fund3.6% Target Dividend Yield (+20%)3.5% Portfolio and benchmark returns for the quarter to 30/09/2013 are preliminary estimates provided by Newton Investment Management and have not been verified externally. They could, therefore, be liable to subsequent adjustment. The portfolio is being managed with a medium risk approach. The value of any investment may go down as well as up, as can the income generated from it. Perspective Shareholders may wish to seek independent advice before investing in this Fund. Year 20052006200720082009201020112012 YTD 2013 NICIF 18.011.14.7-17.820.112.6-0.710.711.8 Benchmark 17.410.75.7-16.519.312.91.29.8

2. NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 30 September 2013 Fund Manager Newton Investment Management Limited, Queen Victoria Street, London. Newton is a global thematic stock picking company. This focus on themes helps to identify the catalysts for change and capture opportunities wherever they occur. Newton were first appointed by the Department as managers of the Fund in August 2004 and then reappointed in February 2009, following a successful retendering exercise. Issued by Northern Ireland Central Investment Fund for Charities (NICIFC). NI CIFC is managed by the Department for Social Development through recognised fund managers, and its investment policy is guided by a locally based Advisory Committee appointed by the Department. All information (excluding Historic Fund Performance) is sourced from Newton Investment Management Ltd. All data as at 30 Sep 2013. Source: Newton Investment Management, as at 30 September 2013 Market Commentary Historic Fund Information As at 30 Sept Share Price (p) Annual Dividend (p) Yield (%) 2005 947.40 40.004.22 2006 996.49 42.004.21 2007 1036.16 40.003.86 2008 856.11 44.005.14 2009 881.43 39.004.42 2010 942.75 39.004.14 2011 893.25 40.004.48 2012 973.84 40.004.11 Shares in issue as at 30/06/2013 2,913,724 Shares in issue as at 30/09/2013 2,920,654 Ethical Restriction: No direct investment permitted In tobacco stocks Sector Allocation as a % of Total Market Value NICIFC Fund Composition Monetary policymakers have largely failed to address the debt burdens and imbalances that characterise large swathes of the global economy. Indeed, much of the causes of the financial crisis of five years ago (low interest rates and a ballooning of credit) is currently seen as the cure for its aftermath, even if much of the debt involved now resides on the balance sheets of the public sector rather than on those of the private sector. Policymaking has thus resembled more ‘evolution ‘ than ‘revolution’. Successive waves of quantitative easing are of doubtful value in stirring the improvements in economic activity for which they have chiefly been discharged. Western economies benefited from the initial bursts of stimulus in the wake of the financial crisis, and developing economies were undoubtedly given a major boost by the actions of authorities around the world: but the former remain fragile despite unparalleled policy support, and growth in the latter appears now to be slowing. In the meantime, policymaking has had a significant impact in financial markets, entailing marked distortions in asset prices, capital misallocation, and the ‘financialisation’ of the economy, by which trading in claims on economic activity has grown in prominence compared with the underlying activity itself. With the policymaking on which investors are so focused linked explicitly now to economic variables such as rates of employment, financial markets may will be volatile. The monthly release of the US non-farm payrolls (employment) report, for example, has assumed an ever-greater status in the minds of investors, given its overt linkage to Federal Reserve policy. Perversely, it may thus be ‘bad’ news rather than ‘good’ that most ignites asset markets, given the necessity it would imply for further intervention by authorities. In this challenging setting, we continue to emphasise the importance of long-perspective, and to believe that understanding the trends shaping the investment landscape should be given precedence over the near-term ‘noise’ which can drown out an understanding of financial-market opportunities and risks. NI Central Investment Fund for Charities, c/o Department for Social Development, The Lighthouse Building, 4 th Floor, 1 Cromac Place, Gasworks Business Park, Ormeau Road, Belfast BT7 2JB. Tel.: 02890 829 508 E-mail: deborah.walker@dsdni.gov.uk Contact