ICICI Prudential

Energy Opportunities Fund

Powering your country

Powering your portfolio

NFO July 02, 2024

DATE July 16, 2024

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
 A WORLD WITHOUT ‘ENERGY’ WOULD BE DARK

1 2 3 4
You are working on your
You fret and fume as The air-conditioner You step into your car to
laptop, when the electricity
your mobile battery is low and electric bulbs stop visit the nearest café
gets cut off abruptly
functioning
Besides, you can’t even You feel relieved to see
use electrical appliances The room is filled with the fuel tank full – At least,
like the microwave and darkness; leaving you you can use this form of
television in despair ENERGY!

The inconvenience makes you ponder,

“A World Without Energy would be Dark!”
The above example is only for illustration purpose

2
 ENERGY – ESSENTIAL PART OF OUR LIFE !!!

CONSIDERING THE EXAMPLE OF HOUSEHOLDS: But now, different electrical appliances, such
as refrigerator, air conditioner, induction stove,
Earlier, necessities of every house were
microwave, cars, two-wheelers, etc.
electric lights, a gas stove and a television
have become a necessity for most households

Lifestyle Change
Increase in Energy Demand

THROWING LIGHT ON THE NEED FOR ENERGY

Necessity Convenience Productivity Innovation Efficiency Communication Transportation

The above example is only for illustration purpose. 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 these stock(s)/sector(s).

3
 UNFOLDING THE BROAD COVERAGE OF ENERGY

Energy is NOT restricted to only Households – It plays a key role in diverse segments

ENERGY

Provides Power to houses Fuels our Transportation Key Driver for Industrial Growth Supports Communication Networks
• Cooking • Cars • Healthcare • Telecommunication
• Electrical Appliances, • Two-wheelers • FMCG • Broadcasting Stations
such as Washing • Cargo engines • Textiles • Internet Services
Machines, Television,
Refrigerator, etc. • Trains • Chemicals • Data Transmission
• Airplanes • Agriculture
• Financial Services
• Metals
• Oil & Gas
• Consumer Durables
• Information Technology
• Automobile
FMCG: Fast Moving Consumer Goods, The above list of sectors is not exhaustive. The same is for illustration purpose. The stock/sectors mentioned above are not indicative and not to be construed as the portfolio of the Schemes. 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 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.

4
 OIL & GAS VALUE CHAIN

UPSTREAM MIDSTREAM DOWNSTREAM

Companies that search for Midstream companies Companies which are

deposits of oil or gas concentrates on the involved in the refining,
(exploration) and then its processing, transportation, marketing, and distribution
extraction through drilling or and storage of crude oil and of Oil & Gas
other methods natural gas.

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 these stock(s)/sector(s).

5
 POWER VALUE CHAIN

GENERATION TRANSMISSION DISTRIBUTION

Companies involved in the generation Companies involved in the Companies involved in the final
of Power through Thermal, Gas, movement of electrical energy process of transmission of
Hydro, Nuclear or any other non- from a generating site to an electricity from the sub-station
conventional sources electrical sub-station to individual consumers

The above list is inclusive and not exhaustive. 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 these
stock(s)/sector(s). Source: Company websites.

6
 ENERGY TRANSITION VALUE CHAIN – SOLAR & WIND

SOLAR – WIND –
VALUE CHAIN VALUE CHAIN

Cell & Module Nacelle : includes

Manufacturing gearbox, shafts,
generator, brake etc.

Ancillary equipment

Blade
EPC

Developer Tower

EPC: Engineering, Procurement and Construction. A nacelle is a cover housing that houses all of the generating components in a wind turbine. 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 these stock(s)/sector(s).
` 7
 ENERGY ANCILLARY COMPANIES

Chemical & Petrochemical Industrial & Cap goods Companies engaged in

companies companies engaged in manufacturing of
providing energy pipelines to be used in
consultancy energy sectors

Companies engaged Companies manufacturing

in new energy value electrical equipment for Companies engaged in bio
chain production, transmission and energy value chain
distribution of energy

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 these stock(s)/sector(s).

8
INDIA & ENERGY FUTURE IS INTERTWINED

• India current energy needs

• India’s future growth story dependent on energy

• Premiumization to drive energy demand

• Energy demand for various upcoming segments

• Climate changes would increase pressure on

energy demand

• Government Reforms for Energy Sector

• India Transition

9
 INDIA & ENERGY

India’s primary energy consumption has more than

doubled in the last two decades India is the fourth largest energy consumer globally

Energy Consumption (Exajoules) Share of Energy Consumption (%)

40 100
36
35
35 33 34 90
31 32
30 80
46 45 45 44 44 44 44 44 44 44 44 44 44 43 43 44 43 43 43 42 42 42
30 28 29
26 70
25
25 24
23 60
21
20
20 19 50 11 12 13 15 16 18 18 19
17 17 20 21 21 22 22 24 24 23 24 23 25 26 26 26
16
14 40
15 13 14
30
23 23 22 22 21
20 20 19 19 18 18
17 17 17 17 17 16 17 16 16 16 16
10
20
16 16 16 15 15 14 14 14 13 13 12 12 12 11 11 11 11 11 10 10 10 10
5 10
4 4 4 4 4 4 4 4 4 4 5 5 5 5 5 5 6 6 6 6 6 6
0
0

2002

2013
2001

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2014

2015

2016

2017

2018

2019

2020

2021

2022
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022

India EU US China RoW

Data as on Dec 31, 2022, Avendus Spark Research. EU: European Union. Row: Rest of the world, US: United States. Exajoules is a unit of energy in the international system corresponding to 2.78 kilo watt per hour.

10
 GLOBAL CONTEXT:
COMPARISON OF PER CAPITA POWER CONSUMPTION

India’s per capita energy consumption is 1/3rd of global average. China’s consumption is 4.4x of India and Korea is 9.5x of India. With India
expected to be the third largest economy in the world, its per capita energy consumption could also witness significant rise

Per Capita Consumption (KWhr) = (Gross Electrical Energy Availability/ Midyear Population).
18,000

16,000 15,438

14,000 13,098

12,000 11,082
9,906
10,000
8,010
8,000 7,141 6,917 6,848
6,000 5,220 4,906 4,906
3,957
4,000 3,260
2,570
2,000 1,181

0
Canada USA Korea Australia Japan France Russia Germany Italy UK China South Brazil India World
Africa

Data as on Dec 31, 2023, Avendus Spark Research. KWhr: Kilowatt hour. UK: United Kingdom. USA: United States

11
 INDIA ENERGY – DEMAND & SUPPLY GAP

Power demand expected to grow strongly in future and expected shortages maybe observed mainly during non-solar hours. This may
warrant continued focus towards the sector by the Government to reduce the deficit gap
India Peak Demand, GW India - Peak Demand during Non-Solar Hours
400 (without storage)
354 350 18%
350 332 325 17%
310 16%
305 300
300 289 285
269 265 14% 14%
252 247 250 13%
250 231 12% 12% 12%
11% 11%
200 11%
200 10% 10%
9% 9%
150 8%
150
6% 6%
100 100
4%5% 4%
3% 3%
50 50 3%
2%2% 2% 2%
1%1%0%1%
0 0 0% 0%
FY25E FY26E FY27E FY28E FY29E FY30E

FY06

FY08

FY10

FY12

FY14

FY16

FY18

FY20

FY22

FY24E

FY26E

FY28E

FY30E
India - Peak Demand during Solar Hours
India - Peak Demand during Non-Solar Hours (without storage)
Peak Demand, GW Peak Demand Met, GW Deficit, %
Source: CEA, Govt. of India, Avendus Spark Research, FY: Financial year, Gw: Gigawatt

12
 INDIA’S GROWTH STORY

India is the largest EM after China and is expected to become 3rd largest economy by 2027 as per IMF estimate

GDP in 2021 ($ tn)

22.9
GDP in 2027 ($, tn)
30.3
28.3

16.9

5.1
4.2 5.4 5.2
3.2 3.1 4.9 4.4
2.9 3.3
2.1 2.0 1.6 2.7 2.6 2.3 2.2 1.9
0.7

Indonesia
US

UK

Vietnam
Germany

France

Canada

Russia
China

India

Brazil

Italy
Japan
China
United

Germany

France

Canada

Federation
Italy
India

Kingdom
Japan
States

United

Russian

Source: IMF (International Monetary Fund), Spark Capital Research, EM: Emerging Market, UK: United Kingdom, US: United States, GDP: Gross Domestic Product

13
 INDIA’S GROWTH STORY DEPENDENT ON ENERGY:
EXAMPLE CHINA

China’s shift from Agriculture to Manufacturing during 2000-10 period created massive demand for Power and now the same is
normalized due to their focus on service oriented industries. India’s journey was different, wherein we moved from Agri to services and now
shifting towards Manufacturing, which may warrants for higher demand for energy

China power demand CAGR by sector (%)

16% Demand growth slowed from heavy Demand growth shifted towards
Manufacturing sectors lesser power intensive end-users

14% 13%
12% 12%
12% 11%
10%

8%
6% 7%
6% 6%

4% 4%

2%

0%
Agriculture Major industrial sectors Services Total power demand
2000-10 2010-19
Source: Bernstein Research, Agri : Agriculture

14
 PREMIUMIZATION

Higher penetration of electricity coupled with growth in per capita income would result in higher demand for energy

% population with access to electricity Per Capita GDP 2022 (USD, Current Prices)
100%

80,000 76,330
90%

80% 60,000
India and Indonesia
only recently reached
70% close to the 100% mark
on % population
40,000
having access to
electricity
60% 12,720
20,000
12,688
50% 2,411
-

UK

Vietnam
US

Indonesia

India
France

Brazil
Russia

World

South Africa
Germany

South Korea
Japan

China
Hongkong
Singapore
40%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022

World China India Indonesia Thailand Vietnam

Source: IEA, Bernstein analysis Source: Data Source: World Bank (https://www.worldbank.org/en/home). UK: United Kingdom, US: United
States, GDP: Gross Domestic Product, USD: US Dollar

15
 INCREASING PREMIUMIZATION

With rising income levels and room for higher penetration, energy consumption may go higher

Products India China USA EV Penetration (%)

30

25
Auto 4% 15% 81%
20
Outbound
6% 9% 42% 17.5
Trips
15
Air 60% 90%
8%
Conditioners 10

Refrigerators 18% 94% 100% 5

2.0
Smartphone 0
37% 54% 83%
Users

CY18

CY19

CY20

CY21

CY22

CY23
Internet Users 58% 60% 95% China Europe US India Others Global EV

Source: Avendus Spark and Elara capital Research. USA: United States, EV: Electric Vehicle, CY: Calendar Year

16
 ENERGY DEMAND FOR UPCOMING SEGMENTS

Energy consumption by emerging technologies by

FY30
• One of the most famous chatbot and virtual
300 6% 6% assistant’s daily power usage is equal to 1,80,000
5%
U.S Households
250 5%
250 • The chatbot query needs nearly 10 times as
200 4% much electricity to process as a google search

150 3% 3%
110
100
100 2% • By 2028, AI tasks could be using more power than the
entire country of Iceland
50
50 27 1%

0
0 0%
• Data centres which are used by organization for
Green Hydrogen EVs Data Centers
storage & processing of data at present uses 1-2% of
global power and by this decade end would use 3-4%
of global power
Bernstein Estimate CEA Estimate* Bernstein estimate as a
% of Total consumption Source : Goldman Sachs - AI is poised to drive 160% increase in data center power demand (goldmansachs.com),
Forbes - ChatGPT And Generative AI Innovations Are Creating Sustainability Havoc (forbes.com). AI: Artificial
Source : CEA, Bernstein analysis and estimates Intelligence

17
 CLIMATE CHANGE

Hot tropical country like India, the power demand is strongly co-related by weather conditions. The World Meteorological Organization
predicts “The annual mean global near-surface temperature for each year between 2023 and 2027 is predicted to be between 1.1°C and
1.8°C higher than the 1850-1900 average.

18
GOVT. REFORMS IN THE ENERGY SECTOR –
OIL & GAS SECTOR

• Remunerative realisation for domestic Oil and Gas along with favourable exploration and production policy

• Gas pricing reforms – KP committee report on gas realization linked to crude, ensured better gas
realization than the past.

• Windfall taxes – Abolition of auto fuel subsidy, capping of upstream oil realization instead of adhoc
subsidy when oil prices spike ensured policy stability.

• Capital allocation – improved as compared to the past decade

• OMCs allowed to re-coup losses

• How Govt. handled oil going up during crisis

• Unified tariff – one nation one grid so that gas consumption can be improved for far off places

• GoI target to increase share of gas from 6.5% currently to 15% by 2030

• Sizable capex towards gas transmission lines, LNG terminals and city gas distribution network
Source: Citi Research. GOI: Govt. of India. LNG: Liquefied Natural Gas, OMC: Oil Marketing Companies, Capex: Capital Expenditure. 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 these stock(s)/sector(s)

19
GOVT. REFORMS IN THE ENERGY SECTOR - POWER

• Govt. selling stake in PSUs has moderated over the last decade

• Receivables from DISCOMs has come down due to Late Payment Surcharge
rules (Jun 2022) an Revamped Distribution Scheme enabling DISCOMs to
borrow from Power financing companies and to fast-tract implementation
of Smart Metering.

• Focus on domestic coal production

• Reforms in power transmission with imposition of General Network Access

• Discom privatization

Source: Citi Research. Discom: Distribution Companies, PSU: Public Sector Undertaking, 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 these stock(s)/sector(s)

20
 GOVT. REFORMS : ‘NET ZERO’ BY 2070

India’s Road to ‘net zero’ by 2070

Renewables Key overall targets

• Reducing emission intensity of GDP by 45% by 2030, compare to 2005 level.

Electric Vehicles
• Non-fossil fuel based generation capacity to 50% by 2030.

• Increasing carbon sink coverage by 2.5 -3.bn tonnes of CO2 equivalent, by 2030.
Green Hydrogen
• Reducing projected emissions by 1 billion tonnes from 2021 till 2030.

Biofuel
Key initiative specific targets

500 5000 5
20% GW CBG MMTP
Carbon Capture
& Storage
ethanol blending renewables plants with Green H2
target by 2025 targeted by 2030 production target production target
Carbon Credit
of 15MMTPA by by 2030
Trading
2023-24
Source: Citi Research. GW: Gigawatt, GDP: Gross Domestic Product, CB: Compressed Biogas, MMTPA: Million Metric Tonne Per Year, Bn: Billion. 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 these stock(s)/sector(s).

21
 INDIA TRANSITION

India target of Net Zero by 2070, would require massive push for renewables which is likely open up opportunity for
existing and new players in Energy Value chain. Plus Govt. has awarded higher capacity addition for renewals

Trends of rising share of Renewable Energy Renewable Capacity awarded (MW)

50 47.47
100
90 25
45
28 30 33
80 35 38 41 44 46 48 50 51 40
52 53 54
70
35
60
30
50
40 25 22
21
30 20
20 14 14 14
15
10 10
10
0 7 6
4.75
FY 25E

FY 26E

FY 27E

FY 28E

FY 29E

FY 30E

FY 31E

FY 32E

FY 33E

FY 34E

FY 35E
FY 21

FY 22

FY 23

FY 24

5
2 2
0 0
0

FY22
FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

FY23

FY24

YTD FY25
Share of Coal / Lignite / Gas Share of Hydro
Share of Nuclear Share of renweable capacity Solar Wind Hybrid Storage
Source: Avendus Spark Research. Data is on Financial Year (FY) basis. E: Estimates. YTD: Year Till Date

22
VALUATION UPDATE

Energy Companies Company

Profit Pool valuations

Theme Marketcap of
Valuations Energy Theme

23
 ENERGY SECTOR REPRESENTATION IN THE
BROADER MARKET INDICES

Energy Theme’s Marketcap exposure is lower in the broader market indices compared to their profit pool

Share of Energy companies (Ex- RIL) as per Share of Energy companies (Ex- RIL) as
Market Cap (Crs.) as on 31st May’24 per Profit (Crs.) as on 31st May’24

8% 19%

81%
92%

Non-Energy Stocks Energy Stocks Non-Energy Stocks Energy Stocks

No of energy companies in Nifty 50 31st May 2024

Energy Stocks 5
Non-Energy Stocks 45
Source – MFIE. RIL: Reliance Industries Ltd. Past performance may or may not sustain in future. Past Performance may or may not sustain in the future. 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 these stock(s)/sector(s)

24
 NIFTY ENERGY INDEX VALUATION V/S BROADER MARKET

Even after the theme outperforming the broader market, valuation remain reasonable. Nifty Energy Index Trailing PE is at
13.5x compared to Nifty 50 Index Trailing PE at 21.4x

Nifty Energy Index P/E Discount to Nifty 50 Index Nifty Energy Index P/B Discount to Nifty 50 Index
-25%
-25%
-30%
-30%
-35%

Average: -35%
-40%
-46% -35%
-45% -40%

-38% Average:
-50% -45%
-50%
-55% -50%

-60% -55%

-65%
-60%
-70%
-65%
Jun-14
Feb-15

Jun-16

Jun-18

Jun-20

Jun-22

Jun-24
Oct-15

Oct-17

Oct-19

Oct-21

Oct-23
Feb-17

Feb-19

Feb-21

Feb-23

Jun-17
Jun-14

Jun-15

Jun-16

Jun-18

Jun-19

Jun-20

Jun-21

Jun-22

Jun-23
Dec-23
Jun-24
Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Dec-19

Dec-20

Dec-21

Dec-22
Data as on June 14,2024. Source: NSE. P/E: Price to Earnings, P/B: Price to Book Value

25
WHAT WE BRING
TO THE TABLE?

26
WHAT WE BRING TO THE TABLE?

Investment analyst for on – going

monitoring

Our expertise Our experience

in this theme in identifying
ideas

27
 TEAM OF INVESTMENT ANALYSTS

Agriculture & Auto & Banks & Building

Cement
Agriculture Input Auto Anc Finance Materials

Commercial Consumer Consumer

Chemicals Services Construction
Durables Non Durables

Hotels &
Education Pharmaceuticals Capital Goods IT
Leisure

Media & Metals &

Oil & Gas Paper Power & Utilities
Entertainment Mining

Real Estate Retail Telecom Textiles Transportation

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 these stock(s)/sector(s)

28
 OUR EXPERIENCE IN IDENTIFYING IDEAS

2018-19 2021-22 2021-23

Theme/Sector based fund Broad theme based fund Positioning change in ESF
Launched Pharma, Manufacturing, Consumption, Launched PSU Equity, Transportation, Housing, Markets expensive & Taxation
Commodities etc., post narrow rally Innovation etc. post COVID, due to attractive impact, parking solution
valuations

Special Situation Theme Business Cycle & Flexicap Theme

Launched Special situation fund, Launched pure Macro fund & Flexi Fund, due to rapid
post NBFC Crisis in 2018 macro challenges (COVID, Geo-political tensions,
Energy shortage etc.)
2019
NBFC: Non Banking Financial Company, Covid: Coronavirus Disease 2019, PSU: Public Sector Undertaking
2021
29
ABOUT THE SCHEME

30
 INVESTMENT UNIVERSE

POWER ANCILLARIES
Energy EPC, Power T&D value, Heavy Electrical Equipment, Energy efficiency plays (manufacturing electrical equipment's for
production, transmission & distribution of energy)

OIL VALUE CHAIN

Upstream (Oil Exploration & Production), Integrated refining and marketing (Refineries & Marketing), Standalone
refining (Refineries & Marketing), downstream petrochemicals (Chemicals & Petrochemicals companies) and base
oil processors (companies engaging in activities such exploration, production, distribution, transportation and
processing of traditional & new energy), lubricants, oil field services (Oil Equipment & Services)

GREEN ENERGY / NEW ENERGY

Companies undergoing energy transition, Solar value chain, Wind power value chain, Hydrogen value chain,
Bio energy value chain (companies involved bio energy value chain), alternate fuel (companies making
components of new energy)

GAS VALUE CHAIN

Gas transmission (Gas Transmission/Marketing), LNG terminal (LPG/CNG/PNG/LNG Supplier), City gas distribution
(LPG/CNG/PNG/LNG Supplier)

POWER VALUE CHAIN

Coal producer (Coal), power generation, power transmission

The above list is inclusive and not exhaustive. 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 these stock(s)/sector(s).LNG: Liquefied
Natural Gas, CNG: Compressed Natural Gas, PNG: Piped Natural Gas. EPC: Engineering , Procurement and Construction. T&D: Transmission & Distribution.

31
 PROPOSED PORTFOLIO CONSTRUCT –
THOUGHTS & PHILOSOPHY

• Conventional sources of energy companies - like Oil & • Allied Sectors like manufacturing of pipelines for
Gas, Coal or Thermal or Gas generation companies energy, bio-energy value chain, manufacturing of
electrical equipment, energy automation &
• Strong FCF & Balance Sheet Strength
consultancy services etc
• Focus towards companies which are also venturing
• Innovative companies
into green energy space
• Companies with re-rating potential • Strong execution
PROPOSED
ENERGY PORTFOLIO OPPORTUNITIES
CONSTRUCT Investing in companies which are supporting the energy
Predominantly taking exposure in companies involved in the
traditional & new energy sectors companies (allied business activities)

Investing in companies with

OTHER Largecap biased*
long-term bias
ASPECTS:
FCF: Free Cashflow Generation. The asset allocation and investment strategy will be as per the SID. * The benchmark (Nifty Energy TRI) has 100% exposure to large cap companies.

32
 BENCHMARK CONSTITUENTS: NIFTY ENERGY TRI

Company’s Name Industry Weight(%)

Reliance Industries Ltd. Refineries & Marketing 31.0
NTPC Ltd. Power Generation 14.3
Power Grid Corporation of India Ltd. Power - Transmission 11.8
Coal India Ltd. Coal 9.4
Oil & Natural Gas Corporation Ltd. Oil Exploration & Production 8.6
Tata Power Co. Ltd. Integrated Power Utilities 6.2
Adani Green Energy Ltd. Power Generation 5.8
Bharat Petroleum Corporation Ltd. Refineries & Marketing 5.0
Indian Oil Corporation Ltd. Refineries & Marketing 5.0
Adani Energy Solutions Ltd. Power Distribution 2.8
Data as on May 31, 2024, Source: NSE. 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 these
stock(s)/sector(s)

33
SUMMARY

• India’s structural story remains strong and expected to grow at a robust pace

• Energy remains major catalyst for India to realize its growth target

• Energy demand is expected to grow over the decade and would remain a key theme for long-term

• Various factors like Climate change, premiumization, India’s focus on manufacturing, Growth in per capita income etc.
remains factors that propel growth in India’s energy demand

• There are various companies involved in the value chain of Energy, this would help in creating a diversified portfolio

• Decadal theme with Long-term bias and hence, investors with long-term horizon should invest in the scheme

34
 PORTFOLIO FEATURES

Type of Scheme An open-ended equity scheme following the energy theme.

ICICI Prudential Energy Opportunities Fund – Regular Plan &

Plans
ICICI Prudential Energy Opportunities Fund – Direct Plan

Options Growth & IDCW*

Minimum Application Amount Rs. 5,000 (plus in multiples of Re.1)

Minimum Additional Application Amount Rs. 5,000 (plus in multiples of Re.1)

Minimum Redemption Amount Any Amount

Entry Load Not applicable

Less than 3 months 1% of applicable NAV

Exit Load
More than 3 months Nil

Benchmark Index Nifty Energy TRI

SIP / SWP / STP

Available

*IDCW – Income Distribution cum Capital Withdrawal Option. Payment of dividend is subject to availability of distributable surplus and Trustee approval. Pursuant to payment of IDCW, the NAV of the scheme falls
to the extent of dividend payout. When units are sold and sale price (NAV) is higher than face value of the unit, a portion of sale price that represents realized gains is credited to an Equalization Reserve Account and
which can be used to pay dividend. Dividend can be distributed out of investors capital (Equalization Reserve), which is part of sale price that represents realized gains. In case the unit holder has opted for dividend
payout option, the minimum amount for dividend payout shall be 100 (net of dividend distribution tax and other statutory levy, if any), else the dividend would be mandatorily reinvested

35
 RISKOMETER & DISCLAIMER

ICICI Prudential Energy Opportunities Fund (An open-ended equity scheme following the energy theme.) is
suitable for investors who are seeking*:

• Long Term Wealth Creation

• An equity scheme that predominantly invests in instruments of companies engaged in and/or expected to benefit
from the growth in traditional & new energy sectors & allied business activities
Investors understand that their principal will be at
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Very High Risk

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.
Disclaimer: In the preparation of the material contained in this document, ICICI Prudential Asset Management Company Ltd. (the AMC) has used information that is publicly available, including infor-
ma- tion 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 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 coun-
tries 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 Limited (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. The recipient alone shall be fully responsible/are liable for any
decision taken on this material.
It may be noted that the scheme risk-o-meter specified above is based on the internal assessment of the scheme characteristics and may vary post NFO when the actual investments are made.
The same shall be updated on ongoing basis in accordance with clause 17.4 of the Master Circular.

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