GREEN MARKETS EXPERTISE

Detailed Information On Green Investing At Winslow:

• Environmental Research / Governance Research
• Green Markets Expertise
• Investment Selection / Portfolio Construction

Over the course of nearly 25 years of green investing, Winslow has become very familiar with various green sectors such as renewable energy, organic foods, recycling, and others. Our investment team includes our two portfolio managers, each of whom have over twenty years of green investing experience; an environmental analyst skilled in seeking out and validating green opportunities; a fundamental equity analyst with over ten years of experience following & analyzing growth companies; and, a renewable energy expert with deep understanding of both the technologies and investment trends driving the green energy revolution.

Over the years we have experienced - sometimes painfully - the difference between the hype surrounding an exciting but unworkable idea, and the development of a significant green market opportunity. We believe that Winslow's collective expertise, earned over a long period of time, is more valuable in today's market than ever before, because many green markets which have existed for years are now supporting legitimate growth industries for the first time in history:

• Big problems like climate change and energy security are creating unprecedented demand for green energy solutions
• A continued shift to healthier lifestyles in our society is generating brisk growth in organic foods and natural products
• Brand opportunities, cost-benefit analysis and plain-old common sense now support booming industries like recycling, green transportation and green construction

In all of our portfolios, we emphasize companies in "green solutions" sectors such as:

• Clean Energy: stand alone power and back-up systems based on wind, solar, flywheels, batteries and fuel cells; biofuels; energy efficiency technologies; energy production companies deriving significant percentage of energy from renewable sources
• Water Management: water and wastewater services including sewerage and treatment infrastructure; new technology-based solutions such as membranes and UV disinfection.
• Resource Optimization: waste reduction and associated technologies; recycling and resource management; recycled materials.
• Sustainable Living: healthy lifestyle sector including organic foods, complementary medicines and many other categories of natural products.
• Environmental Services: companies directly benefiting from increased environmental legislation, including environmental consultancies and providers of safety equipment.
• Green Transport: integrated public transport systems; vehicle emissions and energy efficiency control technologies.
• Green Buildings: includes energy-saving technology and materials, environmentally friendly materials, and certified green architecture and construction services.

Winslow believes that companies providing green solutions will continue to benefit from a combination of ecological, regulatory, societal, and economic factors that are promoting environmental well being and responsibility. However, these are difficult markets to navigate and investment experience is critical to a successful strategy. We believe that a careful and selective approach to choosing portfolio companies is vital when attempting to earn consistently above-average returns.