Login References to companies provided for illustrative purposes only. They were selected by the author on an objective basis in order to illustrate the views expressed in the presentation. Ant Group and DiDi Global are not holdings in any Sands Capital portfolios. The portfolio companies illustrated in the presentations represent a sub-set of current holdings in the Emerging Markets Growth, International Growth, Global Growth, and Global Leaders portfolios. The portfolio companies referenced represent all Chinese and Hong Kong portfolio holdings as of 7/31/2021: AIA, Alibaba, Anta Sports Products, Country Garden Services, Foshan Haitian Flavoring, Haidilao, Hutchison China MediTech, JD Health, Kanzhun, Tencent, Tencent Music, Tigermed, and Wuxi Biologics. From 1/1/2021 through 7/31/2021, the Emerging Markets Growth portfolio purchased Tencent Music, Haidilao, Kanzhun, TCS Group, and Country Garden Services. It sold BeiGene, Vincom Retail, CD Projekt, Trip, and New Oriental Education. Jack Mayer, CFA Jack Mayer is a Sr. Portfolio Specialist at Sands Capital, and joined the firm in 2016. He earned a BA from the College of William & Mary. Brian Christiansen, CFA Brian is Sands Capital’s Director of Stewardship, an Executive Managing Director, a Research Analyst, and a co-Portfolio Manager of the Emerging Markets Growth and Global Growth strategies. Brian joined Sands Capital in 2006. He earned a BA from Yale University and an MBA from the Yale School of Management. Judy Jiao, CFA Judy is a Research Analyst on Sands Capital’s Global Technology Sector Team, and joined the firm in 2015. She earned a BA from Middlebury College. Ashraf Haque Ashraf is a Research Analyst and a co-Portfolio Manager of the Sands Capital Emerging Markets Growth, and International Growth strategies. Ashraf joined Sands Capital in 2008. He earned a BA from Northwestern University and an MBA from Harvard Business School. Investment Strategy Making Sense of China’s Regulatory Crackdowns Recent actions against private after-school tutoring providers and ride-hailing firms have some investors questioning whether Chinese companies are investable. A more complicated picture emerges in the examination of the nuances. Read more Investment Strategy China Offers Still Compelling, Yet Complex, Investment Opportunities China’s rising middle class and sustained innovation could drive growth in select businesses that are unaffected by new regulations. Read more 2Q 2021 Materials Recordings On-demand replays of recent calls with our portfolio managers are available now. Presentations Our strategy presentations that contain detailed information about investment results, performance attribution, business results, and other supplemental information are available to download now. Global Growth Select Growth Global Leaders Emerging Markets Growth Flash Reports Our quarterly summary reports of recent investment results, top 10 businesses, portfolio characteristics and exposures, and contribution analysis are available to download now. Global Growth Select Growth Global Leaders Emerging Markets Growth Disclosures: The views expressed are the opinion of Sands Capital Management and are not intended as a forecast, a guarantee of future results, investment recommendations, or an offer to buy or sell any securities. The views expressed were current as of the date indicated and are subject to change. This material may contain forward-looking statements, which are subject to uncertainty and contingencies outside of Sands Capital’s control. Readers should not place undue reliance upon these forward-looking statements. There is no guarantee that Sands Capital will meet its stated goals. Past performance is not indicative of future results. A company’s fundamentals or earnings growth is no guarantee that its share price will increase. Forward earnings projections are not predictors of stock price or investment performance, and do not represent past performance. Characteristics, sector exposure and holdings information are subject to change, and should not be considered as recommendations. References to companies provided for illustrative purposes only. The specific portfolio companies identified and described do not represent all of the securities purchased, sold, or recommended for advisory clients. There is no assurance that any securities discussed will remain in the portfolio or that securities sold have not been repurchased. You should not assume that any investment is or will be profitable. For a complete list of current and former holdings for any strategy managed by Sands Capital Management, including returns and attribution analysis, please contact a member of our Client Relations Team at 703-562-4000. GIPS® Reports and additional disclosures for the related composites may be found in the Sands Capital GIPS Reports. STAY UP TO DATE Perspectives Newsletter Our latest thinking on innovation investing, long-term capital, and culture. 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Our approach combines analytical rigor and creative thinking to identify high-quality growth businesses that are creating the future. Through an integrated investment platform spanning venture capital, growth equity and public equity, we provide growth capital solutions to institutions and fund sponsors in more than 40 countries. An independent, staff-owned firm founded in 1992 with offices in the Washington, D.C. area and Singapore, Sands Capital managed more than USD $80 billion in client assets as of September 30, 2021. © 2021 Sands Capital Management. All Rights Reserved. For institutional and professional investors only.