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Merian Global Investors Series PlcAnnual Report and Audited Financial Statements for the financial year ended 31 December 2018DIRECTORY (continued)Representative in SwitzerlandFirst Independent Fund Services LimitedKlausstrasse 338008 ZurichSwitzerlandFacilities Agent in the United KingdomMerian Global Investors (UK) LimitedMillennium Bridge House, 2 Lambeth HillLondon EC4P 4WRUnited KingdomFrench Centralising and Financial AgentBNP Paribas Securities Services3 Rue d’Antin75002, ParisFrancePaying Agent in AustriaPaying Agents in ChileErste Bank der Oesterreichischen Sparkassen AG,FranceGraben 211010 WienAustriaCruz del Sur, Corredora de Bolsa S.A.Augusto Leguía 70Piso 5Las CondesSantiago,ChileLarraín Vial S.A., Corredora de BolsaAvenida El Bosque Norte N0 0177, piso 3Las CondesSantiago,ChilePaying Agents in ItalyAllfunds Bank, S.A.U.Via Santa Margherita720121 MilanItalyBNP Paribas Securities ServicesAnsperto 520123 MilanoItalySGSS. S.p.A, MilanVia Benigno Crespi n19AMAC2,lItalyPaying Agent in SwedenSkandinaviska Enskilda Banken AB (publ)Kungsträdgårdsgatan 8SE-106 40StockholmSweden8

Merian Global Investors Series PlcAnnual Report and Audited Financial Statements for the financial year ended 31 December 2018DIRECTORY (continued)Private placement and Master Agent in TaiwanCapital Gateway Securities Investment ConsultingEnterpriseNo. 171 Sung-De RoadTaipei 110TaiwanGerman Information AgentGerFIS – German Fund Information Service UGZum Eichhagen 421382 BrietlingenDeutschlandBelgian Financial AgentCaceis Belgium SAB – 1000 Brussels, Avenue du Port 86 C b320BelgiumCopies of the Memorandum and Articles of Association, the Prospectus, the Key Investor Information documents,the annual and semi-annual reports of the Company are available free of charge at the office of therepresentative or agent of each jurisdiction.Additionally, a list of the purchases and sales of each Sub-Fund made during the financial year of this report maybe obtained free of charge from the Representative in Switzerland.The following Sub-Funds are not authorised in Hong Kong and not available to Hong Kong residents:Merian China Equity FundMerian US Equity Income FundOld Mutual European Best Ideas FundMerian Investment Grade Corporate Bond FundMerian Global Emerging Markets FundMerian Local Currency Emerging Market Debt FundMerian UK Smaller Companies Focus FundMerian UK Dynamic Equity FundMerian Global Equity Absolute Return FundMerian Strategic Absolute Return Bond Fund Old Mutual Compass Portfolio 2Old Mutual Compass Portfolio 3Old Mutual Compass Portfolio 4Old Mutual Compass Portfolio 5Merian UK Specialist Equity FundMerian Style Premia Absolute Return FundMerian Financials Contingent Capital FundThe following Sub-Funds are not authorised in Sweden and not available to Swedish residents:Merian Europe (ex UK) Smaller Companies FundOld Mutual Compass Portfolio 2Old Mutual Compass Portfolio 3Old Mutual Compass Portfolio 4Old Mutual Compass Portfolio 59

Merian Global Investors Series PlcAnnual Report and Audited Financial Statements for the financial year ended 31 December 2018GENERAL INFORMATIONStructureMerian Global Investors Series Plc (previously Old Mutual Global Investors Series Plc) (the “Company”) is anumbrella fund with segregated liability between Sub-Funds established as a self-managed open-endedinvestment company with variable capital, incorporated on 2 September 1997, organised under the laws ofIreland as a public limited company pursuant to the Companies Act 2014, the Central Bank (Supervision andEnforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities)Regulations 2015 and the European Communities (Undertakings for Collective Investment in TransferableSecurities) Regulations, 2011, as amended (the “Regulations”) and has been authorised by the Central Bank ofIreland as a UCITS within the meaning of the Regulations.The share capital of the Company shall at all times equal the Net Asset Value. The initial capital of the Companywas EUR 38,082 represented by 30,000 Subscriber Shares of no par value. For the period of five financial yearsfrom the date of incorporation, the Directors are empowered to issue up to five hundred billion Shares of no parvalue in the Company at the Net Asset Value per Share on such terms as they may think fit. The subscriber Sharesdo not entitle the holders to participate in the assets of any Sub-Fund.Additional informationOn 28 September 2018, the Company changed its name from Old Mutual Global Investors Series Plc to MerianGlobal Investors Series Plc and each of its sub-funds changed their names as set out below.New sub-fund nameOld sub-fund nameMerian China Equity FundMerian Global Strategic Bond Fund (IRL)Merian World Equity FundMerian Pacific Equity FundMerian European Equity FundOld Mutual China Equity FundOld Mutual Global Strategic Bond Fund (IRL)Old Mutual World Equity FundOld Mutual Pacific Equity FundOld Mutual European Equity FundOld Mutual Japanese Equity Fund Old Mutual US Equity Income FundOld Mutual North American Equity FundOld Mutual Total Return USD Bond FundOld Mutual Emerging Market Debt FundOld Mutual European Best Ideas FundOld Mutual Investment Grade Corporate Bond FundOld Mutual Global Emerging Markets FundOld Mutual Asian Equity Income FundOld Mutual Local Currency Emerging Market Debt FundOld Mutual UK Alpha Fund (IRL)Old Mutual UK Smaller Companies Focus FundOld Mutual UK Dynamic Equity FundOld Mutual Global Equity Absolute Return FundOld Mutual Strategic Absolute Return Bond Fund Old Mutual Pan African Fund Old Mutual Monthly Income High Yield Bond Fund Old Mutual Europe (ex UK) Smaller Companies FundOld Mutual Global Equity Income Fund (IRL)Old Mutual Gold & Silver FundOld Mutual Compass Portfolio 2Old Mutual Compass Portfolio 3Old Mutual Compass Portfolio 4Old Mutual Compass Portfolio 5Old Mutual UK Specialist Equity FundOld Mutual Style Premia Absolute Return FundOld Mutual Financials Contingent Capital FundMerian US Equity Income FundMerian North American Equity FundMerian Total Return USD Bond FundMerian Emerging Market Debt FundOld Mutual European Best Ideas FundMerian Investment Grade Corporate Bond FundMerian Global Emerging Markets FundMerian Asian Equity Income FundMerian Local Currency Emerging Market Debt FundMerian UK Alpha Fund (IRL)Merian UK Smaller Companies Focus FundMerian UK Dynamic Equity FundMerian Global Equity Absolute Return FundMerian Strategic Absolute Return Bond FundMerian Europe (ex UK) Smaller Companies FundMerian Global Equity Income Fund (IRL)Merian Gold & Silver FundOld Mutual Compass Portfolio 2Old Mutual Compass Portfolio 3Old Mutual Compass Portfolio 4Old Mutual Compass Portfolio 5Merian UK Specialist Equity FundMerian Style Premia Absolute Return FundMerian Financials Contingent Capital Fund10

Merian Global Investors Series PlcAnnual Report and Audited Financial Statements for the financial year ended 31 December 2018GENERAL INFORMATION (continued)Investment Objectives of the Sub-FundsMerian China Equity FundThe objective of the Merian China Equity Fund is to seek to achieve long-term capital appreciation by investingin a well-diversified portfolio of equity securities issued by companies with either the predominant part of theirassets in, or the predominant part of their revenues derived from, the People’s Republic of China, Hong Kongand/or Taiwan that are listed, traded or dealt in on Regulated Markets in the People’s Republic of China, HongKong, Taiwan, the United States of America (“US”), Singapore, Korea, Thailand and Malaysia or in a memberstate of the Organisation for Economic Co-Operation and Development (“OECD”).Merian Global Strategic Bond Fund (IRL)The objective of the Merian Global Strategic Bond Fund (IRL) is to seek to achieve total return through worldwideinvestment primarily in a diversified portfolio of fixed and variable rate debt securities.Merian World Equity FundThe objective of the Merian World Equity Fund is to seek to achieve asset growth through investment in a welldiversified portfolio of securities of issuers worldwide. It is not proposed to concentrate investments in any onegeographical region, industry or sector.Merian Pacific Equity FundThe objective of the Merian Pacific Equity Fund is to seek to achieve asset growth through investment in a welldiversified portfolio of securities of Pacific region issuers or of issuers established outside the Pacific region whichhave a predominant proportion of their assets or business operations in the Pacific region. It is not proposed toconcentrate investments in any one industry or sector.Merian European Equity FundThe objective of the Merian European Equity Fund is to seek to achieve asset growth through investment in awell-diversified portfolio of securities of European issuers, of issuers established outside Europe which have apredominant proportion of their assets or business operations in Europe, or of securities listed or having a listingon a European exchange. It is not proposed to concentrate investments in any one industry or sector.Old Mutual Japanese Equity Fund The objective of the Old Mutual Japanese Equity Fund was to seek to achieve asset growth through investmentin a well-diversified portfolio of securities of Japanese issuers or of issuers established outside Japan which had apredominant proportion of their assets or business operations in Japan. It was not proposed to concentrateinvestments in any one industry or sector.Merian US Equity Income FundThe objective of the Merian US Equity Income Fund is to seek to achieve asset growth through investment in adiversified portfolio of equity and equity-related securities.Merian North American Equity FundThe objective of the Merian North American Equity Fund is to seek to achieve long term capital growth throughthe active management of a diversified portfolio invested primarily in North American stock markets. It is notproposed to concentrate investments in any one industry or sector.Merian Total Return USD Bond FundThe objective of the Merian Total Return USD Bond Fund is to seek to maximise total return consistent withpreservation of capital and prudent investment management.Merian Emerging Market Debt FundThe objective of the Merian Emerging Market Debt Fund is to seek to achieve asset growth through investmentin a well-diversified portfolio of fixed and variable rate debt securities issued in Emerging Markets.11

Merian Global Investors Series PlcAnnual Report and Audited Financial Statements for the financial year ended 31 December 2018GENERAL INFORMATION (continued)Investment Objectives of the Sub-Funds (continued)Old Mutual European Best Ideas FundThe objective of the Old Mutual European Best Ideas Fund is to seek to achieve asset growth through investmentin a well-diversified portfolio of equities or equity-related securities of European issuers or of issuers establishedoutside Europe which have a predominant proportion of their assets and/or business operations in Europe.Merian Investment Grade Corporate Bond FundThe objective of the Merian Investment Grade Corporate Bond Fund is to seek to achieve income and capitalgrowth predominantly through investment in a well-diversified portfolio of credit securities rated InvestmentGrade.Merian Global Emerging Markets FundThe objective of the Merian Global Emerging Markets Fund is to seek to achieve asset growth through investmentin a well-diversified portfolio of equity securities of issuers in the Emerging Markets or of issuers established outsideof the Emerging Markets, which have a predominant proportion of their assets or business operations in theEmerging Markets and which are listed, traded or dealt in on a Regulated Market worldwide. It is not proposedto concentrate investments in any one industry or sector.Merian Asian Equity Income FundThe objective of the Merian Asian Equity Income Fund is to seek to achieve a total return through a combinationof income and capital growth.Merian Local Currency Emerging Market Debt FundThe objective of the Merian Local Currency Emerging Market Debt Fund is to seek to achieve total return throughinvestment in a well-diversified portfolio of fixed and variable rate debt securities issued in the Emerging Marketsworldwide and which are primarily denominated in the local currency of the issuer.Merian UK Alpha Fund (IRL)The objective of the Merian UK Alpha Fund (IRL) is to seek to achieve capital appreciation.Merian UK Smaller Companies Focus FundThe objective of the Merian UK Smaller Companies Focus Fund aims to provide capital growth from investingprimarily in an equity portfolio of UK smaller companies. Smaller companies are defined for this purpose as thosecompanies which are quoted on a Regulated Market and which have a market capitalisation no greater thanthe largest company in the Numis Smaller Companies Index at the time of initial investment. The Numis SmallerCompanies Index is designed to monitor the performance of the smaller companies sector.Merian UK Dynamic Equity FundThe investment objective of the Merian UK Dynamic Equity Fund is to achieve capital appreciation by takinglong and short positions principally in UK equities outside of the FTSE 100 Index.Merian Global Equity Absolute Return FundThe investment objective of the Merian Global Equity Absolute Return Fund is capital appreciation while closelycontrolling risk. In addition, the Sub-Fund intends to deliver absolute returns that have a low correlation with equityand bond markets.Merian Strategic Absolute Return Bond Fund The investment objective of the Merian Strategic Absolute Return Bond Fund is to seek to deliver positive totalreturns on a rolling twelve month basis with stable levels of volatility uncorrelated to bond and equity marketconditions.12

Merian Global Investors Series PlcAnnual Report and Audited Financial Statements for the financial year ended 31 December 2018GENERAL INFORMATION (continued)Investment Objectives of the Sub-Funds (continued)Old Mutual Pan African Fund The investment objective of the Old Mutual Pan African Fund was to seek to achieve long term capital growthby investing in companies that directly benefitted from long term economic growth opportunities in the Africancontinent.Old Mutual Monthly Income High Yield Bond Fund The objective of the Old Mutual Monthly Income High Yield Bond Fund was to seek to achieve a total returnthrough a combination of income and capital growth from a well-diversified portfolio predominantly comprisingof fixed and variable rate debt securities located worldwide.Merian Europe (ex UK) Smaller Companies FundThe investment objective of the Merian Europe (ex UK) Smaller Companies Fund is to achieve long term capitalgrowth through investing primarily in an equity portfolio of smaller companies incorporated in Europe (excludingthe United Kingdom) or of companies incorporated outside of Europe (excluding the UK) which have apredominant proportion of their assets and/or business operations in Europe (excluding the UK).Merian Global Equity Income Fund (IRL)The investment objective of the Merian Global Equity Income Fund (IRL) is to seek to achieve a total returnthrough a combination of income and capital growth.Merian Gold & Silver FundThe investment objective of the Merian Gold & Silver Fund is to seek to achieve a total return by investingpredominantly in listed equities.Old Mutual Compass Portfolio 2The investment objective of the Old Mutual Compass Portfolio 2 is to generate a long-term total return.Old Mutual Compass Portfolio 3The investment objective of the Old Mutual Compass Portfolio 3 is to generate a long-term total return.Old Mutual Compass Portfolio 4The investment objective of the Old Mutual Compass Portfolio 4 is to generate a long-term total return.Old Mutual Compass Portfolio 5The investment objective of the Old Mutual Compass Portfolio 5 is to generate a long-term total return.Merian UK Specialist Equity FundThe investment objective of the Merian UK Specialist Equity Fund is to seek to achieve capital appreciation bytaking long and short positions mainly in UK equities outside the FTSE 100 Index, whilst seeking to deliver absolutereturns in all market conditions.Merian Style Premia Absolute Return FundThe investment objective of the Merian Style Premia Absolute Return Fund is to seek to deliver positive total returnson a rolling twelve month basis with stable levels of volatility uncorrelated to bond and equity market conditions.Merian Financials Contingent Capital FundThe investment objective of the Merian Financials Contingent Capital Fund is to seek to achieve a total returnthrough a combination of income and capital growth from a portfolio of primarily fixed and variable rate debtsecurities issued by financial institutions with minimum capital requirements, such as insurers and banks.13

Merian Global Investors Series PlcAnnual Report and Audited Financial Statements for the financial year ended 31 December 2018GENERAL INFORMATION (continued)Distribution PolicyDistributions to holders of Redeemable Participating Shares are recorded in the Statement of Operations asfinance costs. Distributions paid and proposed during the financial years ended 31 December 2018, and 31December 2017 with respect to certain share classes are outlined in Note 10. All of the other Sub-Funds’ incomeand capital gains were reinvested in accordance with the investment objective and policy of the Sub-Funds.The Company will declare a dividend in respect of the Classes of Shares of the Sub-Funds as set out in theProspectus of the Company. For all Classes of Shares that are not distributing, the Sub-Fund’s income and capitalgains will be reinvested in accordance with the investment objectives and investment policies of the Sub-Fund.Dilution AdjustmentOn any Dealing Day the Directors may determine when there are net inflows into a Sub-Fund or net outflowsfrom a Sub-Fund to apply a dilution adjustment to the dealing Net Asse

Old Mutual Absolute Return Government Bond Fund, a sub-fund of Old Mutual Global Investors Series II ICAV was merged into the Merian Strategic Absolute Return Bond Fund on 27 July 2018 as detailed in the significant events during the financial year. Old Mutual Monthly Income High Yield Bond Fund closed on 14 September 2018.