Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

The sectors mentioned in this slide is only for illustration purpose only. The sector(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may nothave any future position in these sector(s)/stock(s).The portfolio of the scheme is subject to changes within the provisions of the Scheme Information document of the scheme. Please refer to the SID for investmentpattern, strategy and risk factors.

PHD#: Structural story of vital and essential consumption

2Source: Data for Year 2016, Edelweiss Institutional Equities, WHO. #P.H.D: Pharma, Healthcare and Diagnostic

• India inherited basic and limited healthcare infrastructure like most developing countries.

• Spend on healthcare as % of GDP has been much lower than major economies. Majority of the spend is non-funded.

• Under penetration of healthcare services in terms of last mile reach.

Despite above headwinds sector has achieved several milestones such as the availability of high qualityhealthcare services at a much lower rate compared to several developed economies.

Healthcare Expenditure as % of GDP

Demographic Trends

3Source: Indexmundi. July 2017

• India, the second most populated country in the world is largely dominated by young population.

• However, the country is also home to ~16 cr elderly citizens. This number is set to rise in absolute terms.

• The sheer number of senior citizens in India exceeds the total population of several nations.

• With increase in life expectancy, the demand for healthcare is set to increase significantly.

• Increased awareness, historical under investment, improving Government’s expenditure along with private investments makes this theme a long term structural story.

P.H.D: Broad Theme

4The sectors mentioned in this slide is only for illustration purpose only. The sector(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may ormay not have any future position in these sector(s)/stock(s).The portfolio of the scheme is subject to changes within the provisions of the Scheme Information document of the scheme. Please refer to the SID forinvestment pattern, strategy and risk factors.

5Source: WHO Statistical information system. CII Report . Indian Chamber of Commerce. Annual Report Apollo Hospitals.

India has one of the fastest growing healthcare markets in the world. This industry is broadly characterized by following:

It is estimated that additional 3 million beds would be required to achieve the target of 3 beds per 1000 people by 2025.

Rising income levels, increased health awareness, improvement in treatment technologies, increasing penetration of health insurance has made healthcare sector as one of the fastest growing sector in the country.

Indian healthcare services lags behind with regards to accessibility, geographical reach and overall capacity.

Bed density in India is 1 bed per 1050 population as compared to global average of around 2.9 bed per 1000 population.

Increasing Awarness:Under-served Market:

Hospitals

Hospitals

6Source: CRISIL 2016. F : Forecast. EY Report on Indian Healthcare industry, 2016

Rising pollution levels, rich diets, sedentary life style and rising stress levels are leading to an increase in the incidence of non-communicable diseases.

Changing nature of diseases:

Currently 50% of spending on in-patients beds account for life style diseases.

Medical Tourism

7Source: CRISIL. CARE June 2017. NABH: National Accreditation Board for Hospitals and Health Providers. JCI: Joint Commission International

India has been favoured destination on account of:

Significant cost advantage

Hospitals adhering to quality standards, accredited by agencies like NABH & JCI.

Separate category of on arrival visas

Between 2013 to 2016 the number of tourists visiting on medical visas increased at 20% CAGR.

Lack of quality healthcare infrastructure in neighbouring Asian countries fuelling the growth.

Healthcare Inflation

8

Source: CRISIL. CARE June 2017.

Cost of medical care is continuously risingacross the globe.

Healthcare inflation in most of the countriesis significantly above the general inflation.

Increased awareness and higher healthcarecost has led to growth in Diagnostics,Preventives and insurance industry.

In Percentage

Source: Inflation data as on 2017. Willis Towers Watson Report.

15% Rs.65bn

23% Rs.380 bn

Diagnostics

9Source: Edelweiss Report. E: Estimate

• The Diagnostic industry, growing at ~15% year on year, is on structural uptrend owing to

• Sharpening focus on evidence – based treatment.

• Rising incidence of lifestyle diseases, rising awareness of preventive healthcare.

• Increase in health insurance coverage.

• The diagnostic industry is dominated by unorganised players in the absence of stringent regulations and low entry barrier.

• Companies in organised segment(account for merely 15% of industry) can immensely benefit from rapid expansion in sample collection centers, lower input cost due to economies of scale.

Current Penetration of Organised in 2016, in % Industry size in Rs.

Expected no in FY26E

Indian Diagnostic Industry: Market Breakup

Prevention Better Than Cure

10Source: FICCI & EY Report Dec 2016

Major risk factors causing non-communicable disease burden in India.

StressTransition from

agrarian life style to city life and high stress jobs has led to

increase in stress level.

Air PollutionWith increase in

industrialization and motor vehicles air

pollution is becoming a cause

of concern.

ObesityDue to dietary

habits and sedentary life

style, India has seen surge in obese people.

Dietary RiskChange in dietary

preference over last 2 decades. With

increasing urbanisation, vegetable and fiber rich diet is on decline and is replaced by processed

food and soft drink.

TobaccoIndia is second

largest consumer and third largest

producer of tobacco.

Best way to fight disease is to prevent it and it’s the key sub theme of the scheme.

11

Preventive

Preventive

Vaccination

Fitness

Nutritional Care

Annual Health Check-ups

The information contained herein is solely for private circulation for reading/understanding of registered Advisors / Distributors and should not be circulated toinvestors/prospective investors. Past performance may pr may not be sustained in future.Past performance may pr may not be sustained in future.

12

Preventive

Source: Data as on 31st Dec. 2017 statisticstimes.com, FICCI & EY Report Dec 2016

Vaccination Immunization

requirement starts right from birth and has gone up even in adults with increase in seasonal influenza. India has

emerged as one of the leading manufacturers of vaccine worldwide.

FitnessGyms, Health Clubs and Slimming - Presently, the

industry is at a nascent stage with very few listed companies. Growing disposable income of the people coupled with rising awareness of a healthy body augur well for the industry (i.e increased number of

marathon runs across the nation)

Health Food & BeveragesConsumers are looking for

supplements offering balanced nutrition i.e energy boosting

products, consequently increasing the demand for

dietary supplements in India. Nutritional care segment is

expected to grow at 12% CAGR over next 3-5 years .

The sectors mentioned in this slide is only for illustration purpose only. The sector(s) mentioned in this presentation do not constitute any recommendation ofthe same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s) The portfolio of the scheme is subject to changes

13

Insurance: Attractive Growth Drivers in Place

• Health Insurance has low penetration in India with 58% of total healthcare spent contributed from out of the pocket expense.

• Healthcare spend as % of GDP is expected to increase driven by increasing demand for quality healthcare (increasing per-capita income).

• Share of insurance to increase in healthcare spend leading to strong growth expectation.

• Protection Products (i.e Cancer Care, Cardiac Care) gaining traction in overall product mix of insurance companies.

• Emergence of Nuclear Families and increasing life expectancy shall also facilitate need for protection based products.

Source: Investec Aug 2017

Out of Pocket Expenses as % of total healthcare spend

14

Insurance

• Non-life insurance sector growth in Gross Premium has been from Rs.213bn in 2006 to Rs.964bn in 2016. CAGR of 16.3%

• Health insurance segment has grown at 25% CAGR between 2007 to 2016.

• Health Insurance and Protection Products of Life Insurance is the fastest growing segment of BFSI industry.

• From 13% of the total non-life insurance premium in 2007, Health insurance contributed 28% in FY 16.

Source: Investec Aug 2017

Product wise Gross Premium Earned

15

Pharmaceuticals

Source: CARE, July 2017

Asia,18.80%

Africa,19.10%

European Union,19.70%

United States,40.60%

• India has established itself as a global manufacturing and research hub in pharmaceutical space.• India contributes around 10% of the world production volume.• Around 70% of its revenue comes from sale of generic drugs, of which around 50% comes from exports. • Indian Pharma companies have two distinct businesses.

• Domestic business contributes significantly and is growing at double digit.• Indian Pharmaceutical Companies have equally important and growing exports business.

Advantage India• The cost of setting up a production plant in India is 40 per cent lower than in Western countries.

Labour costs are 50–55% cheaper than in Western countries. • India has the 2nd largest number of USFDA-approved manufacturing plants outside the US, with

2633 FDA-Approved Drug Products.

• Policy Support: Govt initiative: “Pharma Vision 2020” to make India a global leader in manufacturing.

16

While domestic market continues to grow and provide stability to cash-flows, Exports market specifically US market is facing headwinds in terms of delay in US FDA approvals.

Geography wise Cash-Flow (FY 18 Sales)

Volume share of Indian Pharmaceutical companies in US Generic market has gone up from 20% in 2010 to 35% in 2017. In terms of value, the share has been 19%. One of the reason for increased compliance requirement.

Volume share of Indian Companies in US Generic Market.

Increased efforts towards remediation have resulted in closeout of some regulatory alerts in past one year. One positive factor is marked reduction in number of regulatory alerts in 2017.

OAI(Official Action Indicated) issued to Indian Companies.

The stocks/sectors mentioned in this slide are only for illustrative purposes and should not be construed as an indication of the portfolio of the scheme.The sectors mentioned herein are a partof the scheme benchmark i.e. S&P BSE Healthcare Index. The sector(s)/stock(s) mentioned in this document do not constitute any recommendation of the same and ICICI Prudential MutualFund may or may not have any future position in these sector(s)/stock(s).The portfolio of the scheme is subject to changes within the provisions of the Scheme Information document of thescheme. Please refer to the SID for investment pattern, strategy and risk factors. Source: Investec. CRISIL. .

Pharmaceuticals

17

Companies have been focusing more on

1) Generic Products which have some barrier to entry in terms of development complexity.

2) Building the speciality / complex generics basket.

Cumulative Indian Top – 10 companies Research & Development expense has went up 8x in last 7 years.

Source: Investec. CRISIL. E:Estimate

Indian Pharmaceutical companies compared to global/US peers continue to enjoy better profitability given

• Low cost India Advantage • Diversified Global Footprints

• Stable domestic business • Vertical integration into APIs(Active Pharmaceutical Ingredients)

PharmaceuticalsIN

R M

n

18

EPS growth in pharma index has been higher than Nifty Index in 3 out of last 5 years, the growth was slower in last couple of years due to exports segment not contributing to the bottom line and increased cost.

Source: Investec. CRISIL. Edeilweiss. Motilal Oswal Securities. EPS: Earning Per Share, PE: Price to Earnings

Due to higher growth and being a non-discretionary sector, it has always traded at premium relative to the market but the premium has narrowed down significantly in last few years.

Indian Pharmaceutical Company are currently going through rough patch. Under-performance compared to broad market makes strong case for investment.

Index PE Chart

Index EPS Growth

Pharmaceuticals

The information contained herein is solely for private circulation for reading/understanding of registered Advisors / Distributors and should not be circulated toinvestors/prospective investors. Past performance may pr may not be sustained in future. 19

NFO Period : 25th June 2018 to 9th July 2018Fund Manager*: Ihab Dalwai

Aiming to benefit from wide spectrum of Health Industry, Invest In

*Priyanka Khandelwal for investment in overseas securities.

Past performance may pr may not be sustained in future.

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund

(A Open Ended Equity Scheme following Pharma, Healthcare, Diagnostic and allied theme)

20

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund

Ageing population of world.

Non-discretionary spend coupled with increasing

awareness make the theme a

structural story for long period of

time.

Underpenetrated market in term

healthcare services and insurance.

Indian Pharmaceutical Company going

through rough patch. Under-performance compared to broad

market.

ICICI Prudential Pharma Healthcare

and Diagnostic(P.H.D) Fund can make

investor participate in core non-discretionary healthcare sector by

investing Pharmaceuticals,

Hospitals, Diagnostics, Preventives, Health Insurance and allied

sectors.

The stocks/sectors mentioned in this document is only for illustration purpose only. The stocks/sectors mentioned herein are a part of the scheme SID. The sector(s)/stock(s) mentioned in this presentation do notconstitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s).

21

ICICI Prudential Pharma Healthcare and Diagnostics(P.H.D) Fund

NFO Period : 25th June 2018 to 9th July 2018

MICR cheques : Till end of business hours on 9th July 2018

RTGS and transfer cheques : Till end of business hours on 9th July 2018

Switches : Switches from equity schemes and other schemes – 9th July 2018;

Till cut off time (specified for switch outs in the source scheme)

Option to be launched : ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund – Growth & Dividend

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Direct – Growth & Dividend

Entry / Exit Load : Nil/Upto 18 months: 1%, Nil thereafter.

Minimum Application Amount : Rs.5,000/- (an in multiple of Re.1 thereafter)

Benchmark : S&P BSE Healthcare Index

Fund Manager* : Ihab M Dalwai

*Priyanka Khandelwal for investment in overseas securities

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.Disclaimer: All figures and data given in the document are dated unless stated otherwise. In the preparation of the material contained in this document, the AMC has used information that is publiclyavailable, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which mayhave been made available to the AMC and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The AMC however does not warrant theaccuracy, reasonableness and / or completeness of any information. We have included statements / opinions / recommendations in this document, which contain words, or phrases such as “will”,“expect”, “should”, “believe” and similar expressions or variations of such expressions, that are “forward looking statements”. Actual results may differ materially from those suggested by the forwardlooking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and othercountries globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchangerates, equity prices or other rates or prices etc.The AMC (including its affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited todirect, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liablefor any decision taken on this material.The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in thesesector(s)/stock(s). Past performance may or may not be sustained in the future. The portfolio of the scheme is subject to changes within the provisions of the Scheme Information document of the scheme.Please refer to the SID for investment pattern, strategy and risk factors.Investors are advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequence of subscribing to the units of ICICI PrudentialMutual Fund.

22

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund is suitable for investors who are seeking:*

Long term wealth creationAn equity Scheme that predominantly invests in pharma, healthcare, hospitals, diagnostic, wellness and allied companies.

*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

Riskometer & Disclaimer

23

Thank You