- The document recaps the key events and market movements of 2021, noting several major turning points that played out as anticipated, including the normalization of stimulus measures, the shift from deflation to reflation, and changing market cycles. - Going into 2022, the environment is described as akin to shifting sands, with dynamism at its peak. An active management approach is recommended to navigate changing macros and valuations. - Global liquidity is moderating as central banks withdraw stimulus, which has been a major driver of market changes. Inflation is rising in both emerging and developed economies.

1. 1

2. Recap of Outlook 2021 – Turning Points ahead
2
Normalization of
Stimulus Measures
Central Banks pausedfurther rate cuts
& speeding up taperingprogram
Concentrated to Broad
Based Rally
During CY2021,market rally was broadbased
unlike 2020
Less returns potential
in Duration
RBI has paused further rate cuts &
is likely tohike rates
Deflation to Reflation
Emerging & Developed Countries are
witnessinghighinflation
Changein Market Cycle
2021 witnessedextreme market
movements due to changing macros
WHAT WE SAID LAST YEAR?
Source – www.CNBC.com,EdelweissResearch,RBI,JMFinancial,Morgan Stanley.Dataas ofDec 31,2021. RBI – ReserveBank of India.*Pleaseclick onfollowinglinkfor detailedoutlook 2021document – AnnualOutlook 2021

3. Market Rally
Current market rally may
continue till few triggers
play out
Market Triggers
US 10 Year treasury yield
and US Fed roadmap for
withdrawal of stimulus
Risk Return trade
off in equity
currently complex
Risk Return
Market Sentiments
Appears Euphoric in
certainareas
Equity Market View
Long Term positive,
Medium term cautious
Recap of Outlook 2021 – Turning Points ahead
3
Interim communication – MARKETS @ 60K (Turned cautious over medium term)
S&P BSESensex Indexis consideredfor market terminology.US Fed– US FederalReserve.Source – Sensex.Data asofSep30,2021.Past performance may or maynot sustain in future.Pleaseclick belowlinkto accessdocument– Markets@ 60k

4. Recap – Glancing Through 2021 (Equity)
4
S&P BSE Sensex touched 50K & 60K For the first time in 2021!!!
42,000
46,000
50,000
54,000
58,000
62,000
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
S&P
BSE
Sensex
Levels
Union Budget
2021-22
presented by FM
RBI
Monetary
policy
COVID-19
vaccination
commences
India
COVID 2.0
Lockdown
2.0 initiated
GOI announces
6.2 tn package
FM launches
NMP
Oil prices
rise to 7-year
highs First case of
COVID-19 variant
Omicron deteced
Risingfuel prices.
Petrol breaches
Rs.100 mark
Source:BSE, www.federalreserve.gov,www.indiabudget.gov.in,www.india.gov.in,www.economictimes.indiatimes.com.Data as ofDec 24,2021.COVID-19CoronavirusDisease 2019,USFed – UnitedStates Federal Reserve,FM–
Finance Minister,RBI – ReserveBank ofIndia,GOI – Govt.ofIndia,NMP – National Monetization Pipeline. Past performancemayor may not sustain in future

5. 5
What caught our eye in 2021?

6. Obsessive Cryptocurrency Drive & Real-ity check!
Source:Canara Robeco,BOFA Research.WWII – WorldWar2,GATT – General Agreementon Tariffs & Trade,NAFTA– NorthAmerican FreeTrade Agreement,WTO– WorldTrade Organization,GDC – Global FinancialCrisis,COVID –
CoronavirusDisease.Past performancemay or maynot sustain in future
6
The number of Non-FungibleToken (NFT) sales has
shot up significantly from ~1,50,000 to 1.2 Mn per
month in recent months
Real Assets are at all time lows relative to Financial
Assets since 1925

7. Fabulous ‘Five’!
Source:BOFA Global research,MSCI.Data as ofNov 30,2021.FAAMG– Facebook.Apple,Amazon,Microsoft,Google.The sectors)/stock(s)mentionedin this slide do not constitute any recommendation andICICI PrudentialMutualFund may
or may not have any future positionin this sector(s)/stock(s).Pastperformance may or may not sustain in future
7
“FAAMG” stocks form 5 of the top 10 largest companies in the world by marketcapitalization. Microsoftis the
only company featured in top 10 stocks throughout the 21st century. Tesla is the new entrant
31-Mar-00
Company
as a % of
marketcap
Microsoft 2.5
Cisco 2.4
GE 2.3
Intel 2.0
NTT Docomo 1.8
Vodafone 1.5
Exxon 1.2
Nippon Telegraph 1.1
Walmart 1.1
Nokia 1.1
11-Oct-02
Company
as a % of
marketcap
Microsoft 2.1
GE 1.9
Walmart 1.9
Exxon 1.9
Pfizer 1.5
J&J 1.4
AIG 1.2
Citigroup 1.2
BP 1.2
Coca Cola 1.0
02-Nov-07
Company
as a % of
marketcap
Exxon 2.2
Petrochina 1.6
Walmart 1.3
Chinamobile 1.1
Microsoft 1.0
AT&T 0.9
J&J 0.9
P&G 0.9
Ind & Comm
Bank ofChina
0.9
Chevron 0.8
13-Mar-09
Company
as a % of
marketcap
Exxon 1.5
GE 1.2
Chinamobile 1.2
Microsoft 1.1
Gazprom 0.9
Ind & Comm
Bank ofChina
0.9
China Petro &
ChemCorp
0.8
BP 0.8
AT&T 0.7
China Constr
Bank
0.7
30-Nov-21
Company
as a % of
marketcap
Apple 4.1
Microsoft 3.5
Amazon 2.4
Tesla 1.4
AlphabetA 1.3
AlphabetC 1.2
NVIDIA 1.2
Meta Platforms A 1.2
Taiwan
Semiconductor
0.8
JP Morgan Chase 0.7

8. 8
Equity Outlook 2022 - Shifting Sands (A Year of Active Management)
Our previous yearly outlook mentionedhow various factors like easy liquidity, deflation, etc. may witness
turning points which may lead to trend reversals going forward. We saw major turning points play out as
anticipated. In the coming year, we believe that with rising inflation, rate hikes & withdrawal of stimulus, no
clear roadmap on the Pandemic, many economieswill be affected Globally. On the domestic front, barring
Valuations, economy appearsto be on a strong footing. Sentimentsin certain areas appear Euphoric. Global
monetary & fiscal policies especiallythat of US Fed may affect Domestic Equity markets.
The current environmentis akinto shiftingsands,where dynamismis at its peak.Hence,it
would be prudent to have an active managementapproach.We believe,schemeswhichhave
the flexibility to investacross differentassetclasses,Marketcapand Themes may do well

9. GLOBAL MARKETS IN 2021
Map not to scale. This map has been used for design and representational purpose only, it does not depict the geographical boundaries of the country. These do not conform to the external boundaries of India recognized by the Survey of India.
9

10. Global Indices Performance
Map not to scale. This map has been used for design and representational purpose only, it does not depict the geographical bo
undaries of the country. These do not conform to the external boundaries of India recognized by the Survey of India.
Germany - DAX Index; China - SSE Composite Index; France - CAC 40 Index; Japan - Nikkei; Hong Kong - HangSeng; US - Dow Jones; Singapore - Strait Times; Russia - RTS Index; Indonesia - Jakarta Composite Index; U.K. - FTSE; South Korea - Kospi; Brazil - Ibovespa
Sao Paulo Index; Indonesia – Jakarta Composite Index; Taiwan – Taiwan Stock Exchange Corporation; India – S&P BSE Sensex; Returns in % terms. Data Source: MFI & ACEMF; Returns are absolute returns for the index calculated between December 31, 2020 –
December 24, 2021. Past performance may or may not be sustained in future.. MFI Explorer is a tool provided by ICRA Online Lt
d. For their standard disclaimer please visit http://www.icraonline.com/legal/standard-disclaimer.html
10
• Most economies clocked in
positive returns for the year
due to reduction in COVID
cases, stimulus measures &
release of pent-up demand
• Hong Kong, China & Brazil
were major laggards owing to
regulatory changes and
political uncertainty
respectively
Europe
22%
UK
14%
Germany
15%
Russia
14%
Japan
5%
South
Korea
5%
Taiwan
22%
China
4%
Brazil
-12%
Australia
7.3%
SouthAfrica
16.7%
Singapore
9%
India
20%
France
28%
US
17%
Indonesia
10%
Hong Kong
-15%
Switzerland
19%

11. Shifting Sands - Moderating Global Growth
Source:Morgan Stanley Research.Data as ofSep30,2021.GDP – Gross DomesticProduct
11
• Global growth which
was driven by ample
liquidity and pent-up
demand post COVID-19,
is now showing signs of
moderation
• The shift in growth
dynamics is due to
contracting liquidity
-15%
-5%
5%
15%
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
GDP Growth (YoY %)
European Union United States Japan United Kingdom
Average: 2%

12. Shifting Sands - Deflation to Reflation
Source:JMFinancial.Data as ofNov 30,2021.CPI Inflation considered,UK – UnitedKingdom,US– UnitedStates
12
Most of the Emerging & Advanced Economiesare witnessing the shift from Deflation to Reflation
over last one year. The shift can be attributed to abundant liquidity in the system released
by economies to tackle COVID led growth challenges
-6.0%
-2.0%
2.0%
6.0%
10.0%
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Inflation (YoY %) - Emerging Economies
Brazil Russia India China South Africa
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Inflation (YoY %) - Advanced Economies
Euro area Japan UK US

13. Shifting Sands – Moderating global liquidity
Source:Morgan Stanley Research.Data as ofNov 30,2021.EA – EuroArea,UK– UnitedKingdom,US – UnitedStates.
13
With the steady pace of recovery of many economies, Global Central Banks & Govt. are slowly withdrawing
excess liquidity from markets. This shift has been a major game changer for markets
16
18
20
22
24
26
28
30
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Dec-22
Jun-23
Dec-23
US, EA, Japan, UK
Central Bank Balance Sheet (Trn. USD)
Expected trajectory
-2%
2%
6%
10%
14%
18%
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Change in Central Banks Balance Sheets
(% GDP, 12M change)
US EA Japan UK Total

14. INDIAN EQUITY
MARKETS IN
2021
14

15. Source: BSEIndia; Timeperiod considered: 31-Dec-20to 24-Dec-21Past performance may or may not sustain in future
Mid and Smallcaps – Back to Back gains!
15
Small & Midcaps continued their onward march by outperforming broader market
S&P BSE SENSEX S&P BSE MIDCAP S&P BSE SMALLCAP
14%
16%
20%
0%
5%
10%
15%
20%
25%
2019 2020 2021
S&P BSE Sensex Returns
-7%
32%
57%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
2019 2020 2021
S&P BSE Smallcap Returns
-3%
20%
36%
-10%
0%
10%
20%
30%
40%
2019 2020 2021
S&P BSE Midcap Returns

16. All indices are of S&P BSE and carry the prefix of S&P BSE; Abbreviated CD - S&P BSE Consumer Durables; CG - S&P BSE Capital Goods; FMCG - S&P BSE Fast Moving Consumer Goods; HC - S&P BSE Health Care; Infra. - S&P BSE India
Infrastructure; IT - S&P BSE Information Technology, NBFC – Non-banking Finance Companies. Data Source: MFI,ACEMF ; Returns are absolute returns for the TRI variant of the index calculated between December 31,2020– December 24, 2021;
COVID – Coronavirus Disease. Past performance may or may not be sustained in future. The sectors)/stock(s) mentioned in this slide do not constitute any recommendation and ICICI Prudential Mutual Fund may or may not have any future
position in thissector(s)/stock(s).MFI Exploreris a tool providedby ICRA Online Ltd.For theirstandard disclaimer please visithttp://www.icraonline.com/legal/standard-disclaimer.html
Sectoral Returns – Power packed performance!
Sectors closely
related to economy
performed better
as Domestic
Economy trended
closer to pre-
pandemiclevels
16
74 72
60
55 53 51
43 41 39
31
27
17 15 12 11 10
0
20
40
60
80
Power
Metal
Basic
Mat.
IT
Realty
CG
Infra
CD
Telecom
Oil
&
Gas
Energy
Auto
HC
Finance
Bankex
FMCG
Returns
(%)
CY 2021 Absolute Returns (%)

17. FPIs passing the baton to DIIs!
17
DIIs broke the 2 year winning streak of FPIs
-3,169
2,710 4,199
604
4,097
-15,000
-5,000
5,000
15,000
25,000
CY2011
CY2012
CY2013
CY2014
CY2015
CY2016
CY2017
CY2018
CY2019
CY2020
CY2021
Q4FY21
Q1FY22
Q2FY22
Oct-21
Nov-21
FPI & DII Net Flows (US$ Mn)
FPI DII
Source:Morgan Stanley;Dataas ofNov 30,2021;FPI – ForeignPortfolio Investors;DII – DomesticInstitutional Investors.DII includesBanks,Domestic FinancialInstitutions, Insurance, NewPension Scheme& MutualFunds

18. Shifting Sands – Challenging Domestic ‘V’aluations
Source:Edelweiss Research,NSE.Data as ofDec 18,2021. P/E – Price toEarningsRatio,P/B – Price toBook ratio,SD– Std.Deviation.Past performancemay or maynot sustainin future
18
The start point for Indian Equity Markets i.e. Valuations have shifted significantly from lows to highs
15
25
35
45
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Dec-17
Dec-18
Dec-19
Dec-20
Dec-21
Nifty 50 P/E
Nifty 50 PE Average
-1 SD +/- 1SD
2.0
3.0
4.0
5.0
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Dec-17
Dec-18
Dec-19
Dec-20
Dec-21
Nifty P/B Ratio
Nifty 50 P/B ratio Average
-1 SD +/- 1SD
40
60
80
100
120
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Dec-17
Dec-18
Dec-19
Dec-20
Dec-21
Marketcap to GDP (%)
Market Cap to GDP (%) Long Term Average

19. Shifting Sands – Business ‘C’ycle at nascent stage
Source:Morgan Stanley.Debt toEquity data is consideredfor S&P BSE500excludingfinancials.Past performance may or maynot sustain in future.GDP – GrossDomestic Product
19
Corporate Balance Sheets appear to be healthy given rise in profits and decline in Debt over last 2 years
3.3%
1%
2%
3%
4%
5%
F2011
F2013
F2015
F2017
F2019
F2021
Corporate Profit to GDP
50%
60%
70%
80%
-15%
-5%
5%
15%
25%
35%
FY11
FY12
FY13
FY14
FY15
FY16
FY17
FY18
FY19
FY20
FY21
Corporate Debt/Equity
Debt Change (YoY) Net Debt / Equity

20. Declining Govt. Debt & robust tax collections indicate strengthening Govt. Balance Sheet
Shifting Sands - Strong Govt. Balance Sheet
Source:JMFinancial.Past performance mayor may not sustain in future.GDP – Gross DomesticProduct,GST – Goods & ServicesTax
16%
8%
5%
3%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
FY90
FY92
FY94
FY96
FY98
FY00
FY02
FY04
FY06
FY08
FY10
FY12
FY14
FY16
FY18
FY20
Govt. External Debt as a % of GDP
FY21RE
1,050
1,164
1,120
1,170
1,301
1,315
0 500 1,000 1,500
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
GST Collections (INR Bn)
23

21. Shifting Sands – Personal Balance Sheet
Source – NSSO,Income Tax data,Census,SparkCapital ResearchNote:SparkCapital Projections.E - Estimated
<$2000
$2000-$5000
>$5000
25m
people
102m people
1.1bn people
33m
people
516m people
766m people
41m
people
825m people
536m people
2015
5x jump
2021 2025E
1.6x jump
21
There has been a 5x jump in the middle income bracket (peoplecrossing $2000 per capita income mark)
in last 6 years. The middle & high income strata are in good shape despite COVID led disruptions
which can help in lifting up the lower strata

22. Supportive Govt. Policies
Production Linked Incentive Boost domestic manufacturing with an aim to bring import substitution &
increase Global Market Share
The Insolvency& Bankruptcy Code 2016 enabled insolvency resolution in
a time bound manner & aimed at reducing NPAs in the banking sector
This step provided Indian Banks with the advantage of capital adequacyand
good size that most foreign banks have
This tax, introduced in 2016, simplified taxsystem by subsuming all indirect
taxes which is easy to administer
Creation of Land banks to make land easily identifiable for industrial projects
coupled with provision of details about logistics
Make in India & Skill India to foster innovation & to cater to skill development
in India
Insolvency & Bankruptcy Code
Consolidation of PSU Banks
Goods & Services Tax
Land Reforms
Make in India
22
PSU – Public Sector Undertaking,NPA– Non PerformingAsssets

23. Source:US Fed– US FederalReserve, COVID– CoronavirusDisease
‘T‘riggers/Risk
US FED RATE HIKE
ROADMAP
Quantum of taper &
pace of rate hikesby
US Fed
US 10Y TREASURY
YIELDS
US Treasury
Yieldsreaching
2%
COVID
Impact& Severity
of new COVID
variants (currently
Omicron)
23
We may re-visit our approach & recommendations once these factors come into action

24. Source:InternalResearch,IPO – InitialPublic Offering
Euphoric ‘S’entiments
24
Sentiments appear Euphoric in certain market segments
Retail investors participation in Direct Equity
3.2 3.6
4.1
5.5
7.7
0
2
4
6
8
-1
1
2
3
4
5
6
FY18
FY19
FY20
FY21
9MFY22
Total
Accounts
(Crs)
CDSL
&
NSDL
(Crs)
Rise in number of Demat Accounts
CDSL NSDL Total
0
10
20
30
0
25
50
75
100
2019 2020 2021
No.
of
times
over
subscribed
Total
No.
of
IPOs
IPO Participation Rate
Total no. of IPOs Average of Over Subscription Times
Increasing IPO Participation Rate

25. Summary & Outlook
2021 was a year of unprecedented
stimulus measures
The currentscenario reminisces one
of shifting sands wherein markets
may be volatile due to dynamically
changing macros
On the domestic front, the starting
point i.e. Valuationscurrentlyseem
to be high
Equity markets may do well over long term
but we remain cautiousover medium term
These factors warrantthe need for Asset
Allocation & Active InvestmentManagement
We recommend schemes which have the
flexibilityto invest across different asset
classes, Marketcap & Themes
25

26. 2022 – Avoid Investing Mistakes
26
Reacting to temporary under-
performance due to active management
Not following Asset Allocation
Not giving due respect to valuations
Investing based on past
returns
Investing in IPOs without
understanding the business
Not opting for debt as a capital
preservation tool
01
06 02
04
05 03

27. 27
Investment Approach &
Scheme Recommendations for 2022

28. Investment Approach For 2022 – ABCDEF
28
The asset allocation and investment strategy will be as per Scheme Information Document.
6
C3 CONSERVATIVE
D4
DEBT
E5 EQUITY SAVINGS/ARBITRAGE
F6 FUND OF FUNDS
A1 ASSET ALLOCATION
B2 BOOSTER STP
1
2
3
4
5
(Correct allocation between asset classes)
(Staggered Investment based on Valuations)
(Aim for Wealth Preservation)
(An approach when markets at all time high)
(Parking of Funds)
(may provide flexibility to navigate markets)

29. Our Recommendations based on Investment Approach 2022
29
• ICICI Prudential Balanced
Advantage Fund
• ICICI Prudential Multi-Asset
Fund
• ICICI Prudential Equity &
Debt Fund
• ICICI Prudential Flexicap Fund
• ICICI Prudential Business
Cycle Fund
• ICICI Prudential MNC Fund
• ICICI Prudential Value
Discovery Fund
Asset
Allocation
Top Lumpsum
Schemes
Top SIP schemes Fund of Funds
• ICICI Prudential Value Discovery
Fund
• ICICI Prudential India Opportunities
Fund
• ICICI Prudential Bluechip Fund
• ICICI Prudential Focused Equity Fund
• ICICI Prudential Midcap Fund & ICICI
Prudential Smallcap Fund
• ICICI Prudential Asset Allocator
Fund (FOF)
• ICICI Prudential Thematic
Advantage Fund (FOF)
• ICICI Prudential Passive Multi-
Asset Fund of Funds
• ICICI Prudential Global
Advantage Fund (FOF)
The asset allocation andinvestment strategy willbe as per Scheme Information Document.
Recommend Booster STP

30. Scheme Recommendations – Arbitrage/Conservative Hybrid
30
Approach Scheme Name Call to Action Rationale
Arbitrage ICICI Prudential Equity Arbitrage Fund
Invest with 3 Months &
above horizon
Spreads at reasonable
levels
Measured Equity ICICI Prudential Equity Savings Fund
Invest with 6 Months &
above horizon
Potential for upside and
limiting downside

31. Our Equity
Valuation Index
highlights that
valuations are
not cheap &
recommends
Asset Allocation
Our guiding light for Equity Market Valuations
Equity Valuation index is calculatedby assigningequalweightstoPrice-to-Earnings (PE),Price-to-Book (PB),G-Sec*PEandMarket CaptoGDP ratio.G-Sec– Government Securities.GDP – GrossDomestic Product,Dataas of Dec 31, 2021
31
127.1
50
70
90
110
130
150
170
Dec-05
Dec-06
Dec-07
Dec-08
Dec-09
Dec-10
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Dec-17
Dec-18
Dec-19
Dec-20
Dec-21
Aggressively Invest in Equities
Neutral
Incremental Money to Debt
Book Partial Profits
Invest in Equities

32. 32
Riskometers & Disclaimers

33. 33
Our Equity Schemes
Scheme Name Type of Scheme
ICICI Prudential Bluechip Fund An open ended equity scheme predominantly investing in large cap stocks
ICICI Prudential Large &Mid Cap Fund An open ended equity scheme investing in both large cap and mid cap stocks.
ICICI Prudential Midcap Fund An open ended equity scheme predominantly investing in mid cap stocks.
ICICI Prudential SmallcapFund An open ended equity scheme predominantly investing in small cap stocks.
ICICI Prudential Value Discovery Fund An open ended equity scheme following a value investmentstrategy.
ICICI Prudential Multicap Fund An open ended equity scheme investing acrosslarge cap, mid cap, small cap stocks.
ICICI Prudential India Opportunities Fund An Open Ended Equity Scheme following Special Situations theme
ICICI Prudential BusinessCycle Fund An open ended equity scheme following Business Cycles based investing theme
ICICI Prudential Focused Equity Fund
An open ended equity scheme investing in maximum 30 stocks across market-capitalization i.e.
focus on multicap
ICICI Prudential Dividend Yield Equity Fund An open ended equity scheme predominantly investing in dividend yielding stocks
ICICI Prudential Infrastructure Fund An open ended equity scheme following infrastructure theme
ICICI Prudential Flexicap Fund An open ended dynamic equity schemeinvesting across large cap, mid cap & small cap stocks

34. Our Hybrid Schemes / Fund of Funds Scheme
34
Scheme Name Type of Scheme
ICICI Prudential Asset Allocator Fund (FOF)*
An open ended fund of funds scheme investing in equity oriented
schemes, debt oriented schemes and gold ETFs/schemes.
ICICI Prudential Passive Multi-Asset Fund Of
Funds*
An open ended fund of funds scheme investing in equity, debt, gold &
global index funds/exchange traded funds
Scheme Name Type of Scheme
ICICI Prudential Balanced Advantage Fund An open ended dynamic asset allocation fund
ICICI Prudential Regular Savings Fund An open ended hybrid scheme investing predominantlyin debt instruments
ICICI Prudential Equity Savings Fund An open ended scheme investing in equity, arbitrage and debt.
ICICI Prudential Equity & Debt Fund
An open ended hybrid scheme investing predominantlyin equity and equity related
instruments
ICICI Prudential Multi-AssetFund An open ended scheme investing in multi assets
*Investors may please note that they will be bearing the recurring expenses of this Scheme in addition to the expenses of the underlying Schemes in which this Scheme makes investment.

35. Riskometers
35
ICICI Prudential Multi-Asset Fund is suitable for investors whoare seeking*:
 Long term wealth creation
 An open ended scheme investing across asset classes.
*Investors should consult theirfinancial advisersif in doubt about whether the product is suitable for them
ICICI PrudentialBalancedAdvantageFundis suitablefor investors who are seeking*:
 Long term capital appreciation/income
 Investing in equity and equity related securitiesand debt instruments.
*Investors should consult their financial advisersif in doubt about whether the product is suitable for them
ICICI Prudential Bluechip Fund is suitable for investors who are seeking*:
 Long term wealth creation
 An open ended equity scheme predominantly investing in large cap stocks.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them
ICICI Prudential Large & Mid Cap Fund is suitable for investors who are seeking*:
 Long term wealth creation
 An open ended equity scheme investing in both largecap and mid cap stocks
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them

36. Riskometers
36
ICICI Prudential Value Discovery Fund is suitable for investors who are seeking*:
 Long term wealth creation
 An open ended equity scheme following a value investment strategy
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them
ICICI Prudential Regular Savings Fund is suitable for investors who are seeking*:
 Medium to long term regular income solution
 A hybrid fund that aims to generate regular income through investments primarily in debt and money market instruments and long
term capital appreciation by investing a portion in equity.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them
ICICI Prudential Smallcap Fund is suitable for investors who are seeking*:
 Long Term wealth creation
 An open ended equity scheme that seeks to generate capital appreciation by predominantly investing in equity and equity related
securities of small cap companies.
*Investors shouldconsult their financialadvisersifin doubt about whether the product is suitable for them
ICICI PrudentialEquity SavingsFundis suitablefor investors whoare seeking*:
 Long term wealth creation
 An open ended scheme that seeks to generate regular income through investments in fixed income securities, arbitrage and
other derivative strategies and aim for long term capital appreciation by investing in equity and equity related instruments.
*Investors shouldconsult theirfinancialadvisersifin doubt about whetherthe product is suitableforthem
Investors understandthat
their principal will be at
Low to Moderate Risk

37. Riskometers
37
ICICI Prudential Midcap Fund is suitable for investors who are seeking*:
 Long Term wealth creation
 An open-ended equity scheme that aims for capital appreciation by investing in diversified mid cap companies.
*Investors shouldconsult theirfinancialadvisers ifin doubt about whetherthe product is suitable forthem
ICICI PrudentialIndia OpportunitiesFund(The schemeis suitablefor investors whoare seeking*)
 Long term wealth creation
 An equity scheme that invests in stocks based on special situations theme.
*Investors shouldconsult theirfinancialadvisors ifin doubt about whetherthe product issuitable for them.
ICICI PrudentialMulticapFundis suitablefor investors whoare seeking*:
 Long term wealth creation
 An open ended equity scheme investing across largecap,mid cap and small cap stocks.
*Investors shouldconsult theirfinancialadvisersifin doubt about whetherthe product is suitablefor them
•Long Term wealthcreation
•An open ended fund of funds scheme investing in equity oriented schemes, debt oriented schemes and gold ETF/schemes.
*Investors shouldconsulttheir financialadvisorsif in doubt about whether the product is suitable for them.
ICICI Prudential Asset Allocator Fund (FoF) is suitable for investors whoare seeking*:
Investors may please note that they will be bearing the recurring expenses of this Scheme in addition to the expenses of the underlying Schemes in which this Scheme makes investment.

38. Riskometers
38
ICICI PrudentialFocused Equity Fund is suitable for investors who are seeking*:
• Long term wealth creation
• An open ended equity scheme investing in maximum 30 stocks across market-capitalisation.
*Investors shouldconsult theirfinancialadvisersifin doubt about whetherthe product is suitablefor them
ICICI Prudential Dividend Yield Equity Fund is suitable for investors who are seeking*:
 Long Term wealth creation
 An open ended equity scheme that aims for growth by primarilyinvesting in equity and equity related instruments of dividend yielding
companies.
*Investors shouldconsult their financialadvisersifin doubt about whether the product is suitable for them
ICICI Prudential Equity Arbitrage Fund is suitable for investors who are seeking*
 Short Term Income Generation
 A hybrid scheme that aims to generate low volatility returns by using arbitrage and other derivative strategies in equity markets and
investments in debt and money market instruments
*Investors shouldconsult theirfinancialadvisors ifin doubt about whetherthe product issuitable for them.
ICICI Prudential Infrastructure Fund is suitable for investors who are seeking*
 Long Term Wealth Creation
 An open ended equity schemethat aims for growth by primarily investingin companies belonging to infrastructure & allied sectors
*Investors shouldconsult theirfinancialadvisors ifin doubt about whetherthe product issuitable for them.

39. Riskometers
39
ICICI Prudential Business Cycle Fund is suitable for investors who are seeking*:
 Long Term wealth creation
 An equity scheme that investsin Indian markets with focus on riding business cycles through dynamic allocation between various
sectors and stocksat different stagesof business cycles
*Investors shouldconsult theirfinancialadvisors ifin doubt about whetherthe product issuitable for them.
Please note thatthe Risk-o-meter(s) specifiedabove willbe evaluatedandupdatedon a monthly basis.The above riskometersare as on Dec 31, 2021Please refer to https://www.icicipruamc.com/news-and-updates/all-news
for more details.
ICICI Prudential Flexicap Fund is suitable for investors who are seeking*:
•Long Term wealth creation
•An open ended dynamic equity scheme investing across large cap, mid cap and small cap stocks
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
ICICI Prudential Passive Multi-Asset Fund of Funds is suitable for investors who are seeking*:
•Long Term wealth creation
•An open ended fund of funds scheme investing in equity, debt, gold and global index funds/exchange traded funds
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

40. Benchmark Riskometers
40
Scheme Name Scheme Benchmark Name
ICICI Prudential BluechipFund Nifty 100 TRI
ICICI Prudential Long Term Equity Fund (Tax
Saving)
NIFTY 500 TRI
ICICI Prudential ESG Fund Nifty 100 ESG TRI
ICICI Prudential Value Discovery Fund Nifty 500 Value 50 TRI
ICICI Prudential MulticapFund NIFTY 500 Multicap50:25:25 TRI
ICICI Prudential Focused Equity Fund S&P BSE 500 TRI
ICICI Prudential Large & Mid Cap Fund Nifty LargeMidcap 250 TRI
ICICI Prudential Midcap Fund Nifty Midcap 150 TRI
ICICI Prudential SmallcapFund Nifty Smallcap250 TRI
ICICI Prudential Business Cycle Fund NIFTY 500 TRI
ICICI Prudential Infrastructure Fund S&P BSE India Infrastructure TRI
ICICI Prudential FlexicapFund S&P BSE 500 TRI
ICICI Prudential Dividend YieldFund Nifty Dividend Opportunities 50 TRI
ICICI Prudential Passive Multi-Asset Fundof
Funds
CRISIL Hybrid 50+50- Moderate Index (80% weightage) + S&P Global 1200
Index (15% weightage) + Domestic Gold Price (5% weightage)

41. Benchmark Riskometers
41
Scheme Name Scheme Benchmark Name
ICICI Prudential Regular Savings Fund Nifty 50 Hybrid Composite Debt 15:85 Index
ICICI Prudential Equity Savings Fund Nifty Equity Savings TRI
ICICI Prudential Equity & Debt Fund CRISILHybrid 35+65 - Aggressive Index
ICICI Prudential Multi-Asset Fund
Nifty 200 TRI (65%) + Nifty Composite Debt Index
(25%) + LBMA AM Fixing Prices (10%)
ICICI Prudential Balanced Advantage Fund
CRISILHybrid 50+50 - Moderate Index
ICICI Prudential Asset Allocator Fund (FOF)

42. Benchmark Riskometers
42
Scheme Name Scheme Benchmark Name
ICICI Prudential Equity Arbitrage Fund Nifty 50 Arbitrage Index

43. Mutual Fund Disclaimer
43
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
All figures and other data given in this document are dated. The same may or may not be relevant at a future date. The AMC takes no responsibility of updating any data/information in
this material from time to time. The information shall not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or
reproduced in any form, without prior written consent of ICICI Prudential Asset Management Company Limited. Prospective 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 Prudential Mutual Fund. Past Performance may or
may not be sustained in future.
ICICI Prudential Booster Systematic Transfer Plan (“Booster STP”) is a facility wherein unit holder(s) can opt to transfer variable amount(s) from designated open ended Scheme(s) of the
Fund [hereinafter referred to as “Source Scheme”] to the designated open-ended Scheme(s) of the Fund [hereinafter referred to as “Target Scheme”] at defined intervals. The Unitholder
would be required to provide a Base Installment Amount that is intended to be transferred to the Target Scheme. The variable amount(s) or actual amount(s) of transfer to the Target
Scheme will be linked to the Equity Valuation Index (hereinafter referred to as EVI). The EVI is derived by assigning equal weights to Price to Earnings (PE), Price to book (PB), (G-Sec x
PE) and Market Cap to Gross Domestic Product (GDP) or such other factors as may be determined by the AMC from time to time. For list of source and target schemes investors are
requested to refer to application form.
Disclaimer: In the preparation of the material contained in this document, ICICI Prudential Asset Management Company Ltd. (the AMC) has used information that is pub- licly available,
including Budget speech and information developed in-house. The stock(s)/sector(s) mentioned in this slide do not constitute any recommendation and ICICI Prudential Mutual Fund
may or may not have any future position in this stock(s). Some of the material used in the document may have been obtained from mem- bers/persons other than the AMC and/or its
affiliates and which may have 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 the accuracy, 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 forward looking 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 other countries 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 exchange rates, equity prices or other rates or prices etc. ICICI Prudential
Asset Management Company Lim- ited (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 to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material
in any manner. Further, the information contained herein should not be construed as forecast or promise or investment advice. The recipient alone shall be fully responsible/are liable for
any decision taken on this material.