UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________

FORM N-PX

________

ANNUAL REPORT OF PROXY VOTING RECORD OF

REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number: 811-22920

The Advisors’ Inner Circle Fund III

(Exact name of registrant as specified in charter)

________

101 Federal Street

Boston, Massachusetts 02110

 (Address of principal executive offices)

________

Michael Beattie, President

The Advisors’ Inner Circle Fund III

c/o SEI Corp.

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

________

Registrant’s telephone number, including area code: 1-877-446-3863

Date of Fiscal Year End: October 31

Date of Reporting Period: July 1, 2021 to June 30, 2022

________

Item 1. Proxy Voting Record.

Attached are the proxy voting records for the following funds, each of which
is a series of The Advisors’ Inner Circle Fund III:

Ninety One Emerging Markets Equity Fund

Ninety One Global Franchise Fund

Ninety One Global Environment Fund

(The Ninety One Global Environment Fund commenced operations on August 31, 2021.)

Ninety One International Franchise Fund

(The Ninety One International Franchise Fund commenced operations on August 31, 2021.)

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
ACCTON TECHNOLOGY CORP.
Security ID: Y0002S109		Ticker: 2345
Meeting Date: 08-Jul-21		Meeting Type: Annual
1	Approve Business Operations Report and Financial
	Statements		Management	For	Voted - For
2	Approve Profit Distribution		Management	For	Voted - For
	ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT
	DIRECTORS VIA CUMULATIVE VOTING		Management	For	Non-Voting
3.1	Elect a Representative of KUAN XIN INVESTMENT CORP,
	with Shareholder No. 0248318, as Non-independent
	Director		Management	For	Voted - Against
3.2	Elect HUANG KUO-HSIU, with Shareholder No. 0000712,
	as Non-independent Director		Management	For	Voted - For
3.3	Elect DU HENG-YI, a Representative of TING SING CO.
	LTD., with Shareholder No. 0192084, as
	Non-independent Director		Management	For	Voted - For
3.4	Elect HUANG SHU-CHIEH, with Shareholder No.
	B120322XXX, as Independent Director		Management	For	Voted - For
3.5	Elect LEE FA-YAUH, with Shareholder No. A104398XXX,
	as Independent Director		Management	For	Voted - For
3.6	Elect KUO MING-JIAN, with Shareholder No.
	F122181XXX, as Independent Director		Management	For	Voted - Against
3.7	Elect EIZO KOBAYASHI, with Shareholder No.
	1949010XXX, as Independent Director		Management	For	Voted - For
3.8	Elect ANKUR SINGLA, with Shareholder No.
	1977032XXX, as Independent Director		Management	For	Voted - For
3.9	Elect AVIGDOR WILLENZ, with Shareholder No.
	1956061XXX, as Independent Director		Management	For	Voted - For
4	Approve Release of Restrictions of Competitive
	Activities of Newly Appointed Directors and
	Representatives		Management	For	Voted - For
AFREECATV CO., LTD.
Security ID: Y63806106		Ticker: 067160
Meeting Date: 29-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2	Amend Articles of Incorporation		Management	For	Voted - For
3	Approve Stock Option Grants		Management	For	Voted - For
4	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - Against
5	Authorize Board to Fix Remuneration of Internal
	Auditor(s)		Management	For	Voted - For

1

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
AIA GROUP LIMITED
Security ID: Y002A1105		Ticker: 1299
Meeting Date: 19-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Elect Sun Jie (Jane) as Director		Management	For	Voted - For
4	Elect George Yong-Boon Yeo as Director		Management	For	Voted - For
5	Elect Swee-Lian Teo as Director		Management	For	Voted - For
6	Elect Narongchai Akrasanee as Director		Management	For	Voted - For
7	Approve PricewaterhouseCoopers as Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
8A	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
8B	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
ALIBABA GROUP HOLDING LIMITED
Security ID: G01719114		Ticker: 9988
Meeting Date: 17-Sep-21		Meeting Type: Annual
1.1	Elect Director Joseph C. Tsai		Management	For	Voted - Abstain
1.2	Elect Director J. Michael Evans		Management	For	Voted - Abstain
1.3	Elect Director E. Borje Ekholm		Management	For	Voted - For
2	Ratify PricewaterhouseCoopers as Auditors		Management	For	Voted - For
ANGLO AMERICAN PLATINUM LTD.
Security ID: S9122P108		Ticker: AMS
Meeting Date: 12-May-22		Meeting Type: Annual
	Ordinary Resolutions		Management	For	Non-Voting
1.1	Re-elect Norman Mbazima as Director		Management	For	Voted - For
1.2	Re-elect Craig Miller as Director		Management	For	Voted - For
1.3	Re-elect Daisy Naidoo as Director		Management	For	Voted - For
2.1	Elect Nolitha Fakude as Director		Management	For	Voted - For
2.2	Elect Anik Michaud as Director		Management	For	Voted - For
2.3	Elect Duncan Wanblad as Director		Management	For	Voted - For
3.1	Re-elect Peter Mageza as Member of the Audit and
	Risk Committee		Management	For	Voted - For
3.2	Re-elect John Vice as Member of the Audit and Risk
	Committee		Management	For	Voted - For
3.3	Re-elect Daisy Naidoo as Member of the Audit and
	Risk Committee		Management	For	Voted - For
4	Reappoint PricewaterhouseCoopers (PwC) as Auditors
	with JFM Kotze as Individual Designated Auditor		Management	For	Voted - For
5	Place Authorised but Unissued Shares under Control
	of Directors		Management	For	Voted - For

2

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
6	Authorise Ratification of Approved Resolutions		Management	For	Voted - For
7.1	Approve Remuneration Policy		Management	For	Voted - For
7.2	Approve Remuneration Implementation Report		Management	For	Voted - For
	Special Resolutions		Management	For	Non-Voting
1	Approve Non-executive Directors' Fees		Management	For	Voted - For
2	Approve Financial Assistance in Terms of Sections
	44 and 45 of the Companies Act		Management	For	Voted - For
3	Authorise Repurchase of Issued Share Capital		Management	For	Voted - For
ANGLO AMERICAN PLC
Security ID: G03764134		Ticker: AAL
Meeting Date: 19-Apr-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Approve Special Dividend		Management	For	Voted - For
4	Elect Ian Tyler as Director		Management	For	Voted - For
5	Elect Duncan Wanblad as Director		Management	For	Voted - For
6	Re-elect Ian Ashby as Director		Management	For	Voted - For
7	Re-elect Marcelo Bastos as Director		Management	For	Voted - For
8	Re-elect Elisabeth Brinton as Director		Management	For	Voted - For
9	Re-elect Stuart Chambers as Director		Management	For	Voted - For
10	Re-elect Hilary Maxson as Director		Management	For	Voted - For
11	Re-elect Hixonia Nyasulu as Director		Management	For	Voted - For
12	Re-elect Nonkululeko Nyembezi as Director		Management	For	Voted - For
13	Re-elect Tony O'Neill as Director		Management	For	Voted - For
14	Re-elect Stephen Pearce as Director		Management	For	Voted - For
15	Reappoint PricewaterhouseCoopers LLP as Auditors		Management	For	Voted - For
16	Authorise Board to Fix Remuneration of Auditors		Management	For	Voted - For
17	Approve Remuneration Report		Management	For	Voted - For
18	Approve Share Ownership Plan		Management	For	Voted - For
19	Approve Climate Change Report		Management	For	Voted - For
20	Authorise Issue of Equity		Management	For	Voted - For
21	Authorise Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
22	Authorise Market Purchase of Ordinary Shares		Management	For	Voted - For
23	Authorise the Company to Call General Meeting with
	Two Weeks' Notice		Management	For	Voted - For
ATACADAO SA
Security ID: P0565P138		Ticker: CRFB3
Meeting Date: 26-Apr-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports
	for Fiscal Year Ended Dec. 31, 2021		Management	For	Did Not Vote
2	Accept Management Statements for Fiscal Year Ended
	Dec. 31, 2021		Management	For	Did Not Vote
3	Approve Allocation of Income and Dividends		Management	For	Did Not Vote
4	Fix Number of Directors at Ten		Management	For	Did Not Vote

3

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
5	Do You Wish to Adopt Cumulative Voting for the
	Election of the Members of the Board of Directors,
	Under the Terms of Article 141 of the Brazilian
	Corporate Law?		Management	None	Did Not Vote
6	Elect Directors		Management	For	Did Not Vote
7	In Case There is Any Change to the Board Slate
	Composition, May Your Votes Still be Counted for
	the Proposed Slate?		Management	None	Did Not Vote
	If Voting FOR on Item 8, Votes Are Distributed in
	Equal % Amongst Nominees voted FOR. If You Vote
	AGST, Contact Your Client Service Rep to Unequally
	Allocate % of Votes. If You Vote ABST, You Will Not
	Participate in Cumulative Voting.		Management	For	Did Not Vote
8	In Case Cumulative Voting Is Adopted, Do You Wish
	to Equally Distribute Your Votes Amongst the
	Nominees below?		Management	None	Did Not Vote
9.1	Percentage of Votes to Be Assigned - Elect Matthieu
	Dominique Marie Malige as Director		Management	None	Did Not Vote
9.2	Percentage of Votes to Be Assigned - Elect Edouard
	Balthazard Bertrand de Chavagnac as Director		Management	None	Did Not Vote
9.3	Percentage of Votes to Be Assigned - Elect Stephane
	Samuel Maquaire as Director		Management	None	Did Not Vote
9.4	Percentage of Votes to Be Assigned - Elect Claire
	Marie Du Payrat as Director		Management	None	Did Not Vote
9.5	Percentage of Votes to Be Assigned - Elect Jerome
	Alexis Louis Nanty as Director		Management	None	Did Not Vote
9.6	Percentage of Votes to Be Assigned - Elect Eduardo
	Pongracz Rossi as Director		Management	None	Did Not Vote
9.7	Percentage of Votes to Be Assigned - Elect Abilio
	dos Santos Diniz as Director		Management	None	Did Not Vote
9.8	Percentage of Votes to Be Assigned - Elect
	Marc-Olivier Pierre Jean Francois Rochu as Director		Management	None	Did Not Vote
9.9	Percentage of Votes to Be Assigned - Elect Luiz
	Fernando Vendramini Fleury as Independent Director		Management	None	Did Not Vote
9.10	Percentage of Votes to Be Assigned - Elect Marcelo
	Pavao Lacerda as Independent Director		Management	None	Did Not Vote
10	As an Ordinary Shareholder, Would You like to
	Request a Separate Minority Election of a Member of
	the Board of Directors, Under the Terms of Article
	141 of the Brazilian Corporate Law?		Management	None	Did Not Vote
11	Approve Classification of Marcelo Pavao Lacerda and
	Luiz Fernando Vendramini Fleury as Independent
	Directors		Management	For	Did Not Vote
12	Approve Remuneration of Company's Management		Management	For	Did Not Vote
13	Do You Wish to Request Installation of a Fiscal
	Council, Under the Terms of Article 161 of the
	Brazilian Corporate Law?		Management	None	Did Not Vote
Meeting Date: 26-Apr-22		Meeting Type: Extraordinary Shareholders
1	Amend Article 5 to Reflect Changes in Capital		Management	For	Voted - For
2	Consolidate Bylaws		Management	For	Voted - For

4

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
Meeting Date: 19-May-22		Meeting Type: Extraordinary Shareholders
1	Approve Acquisition of Grupo BIG Brasil S.A. (Grupo
	BIG)		Management	For	Voted - For
2	Approve Agreement to Acquire Grupo BIG Brasil S.A.
	(Grupo BIG)		Management	For	Voted - For
3	Ratify Alvarez & Marsal Assessoria em Transacoes
	Ltda. as Independent Firm to Appraise Proposed
	Transaction		Management	For	Voted - For
4	Approve Independent Firm's Appraisal		Management	For	Voted - For
5	Approve Share Merger Agreement		Management	For	Voted - For
6	Approve Capital Increase in Connection with
	Proposed Transaction and Amend Article 5 Accordingly		Management	For	Voted - For
7	Consolidate Bylaws		Management	For	Voted - For
8	Authorize Board to Ratify and Execute Approved
	Resolutions		Management	For	Voted - For
AUROBINDO PHARMA LIMITED
Security ID: Y04527142		Ticker: 524804
Meeting Date: 26-Aug-21		Meeting Type: Annual
1	Accept Standalone Financial Statements and
	Statutory Reports		Management	For	Voted - For
2	Accept Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Confirm First Interim Dividend, Second Interim
	Dividend, and Third Interim Dividend		Management	For	Voted - For
4	Reelect M. Sivakumaran as Director		Management	For	Voted - Abstain
5	Reelect P. Sarath Chandra Reddy as Director		Management	For	Voted - Abstain
6	Approve Reappointment and Remuneration of K.
	Nithyananda Reddy as Whole-Time Director Designated
	as Vice Chairman		Management	For	Voted - Abstain
7	Approve Reappointment and Remuneration of N.
	Govindarajan as Managing Director		Management	For	Voted - For
8	Approve Reappointment and Remuneration of M.
	Sivakumaran as Whole-Time Director		Management	For	Voted - Abstain
9	Approve Reappointment and Remuneration of M. Madan
	Mohan Reddy as Whole-Time Director		Management	For	Voted - Abstain
10	Elect Girish Paman Vanvari as Director		Management	For	Voted - For
Meeting Date: 11-Feb-22		Meeting Type: Special
	Postal Ballot		Management	For	Did Not Vote
1	Approve Appointment and Remuneration of K.
	Nithyananda Reddy as Vice Chairman and Managing
	Director		Management	For	Did Not Vote

5

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
BHARAT ELECTRONICS LIMITED
Security ID: Y0881Q141 Ticker: 500049
Meeting Date: 28-Sep-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Confirm Interim Dividend and Declare Final Dividend		Management	For	Voted - For
3	Reelect Vinay Kumar Katyal as Director		Management	For	Voted - Against
4	Elect Anurag Bajpai as Director		Management	For	Voted - Against
5	Approve Remuneration of Cost Auditors		Management	For	Voted - For
BID CORP. LTD.
Security ID: S11881109		Ticker: BID
Meeting Date: 25-Nov-21		Meeting Type: Annual
1	Reappoint PricewaterhouseCoopers Inc as Auditors of
	the Company with Eben Gerryts as the Individual
	Registered Auditor		Management	For	Voted - For
2.1	Elect Keneilwe Moloko as Director		Management	For	Voted - For
2.2	Re-elect Bernard Berson as Director		Management	For	Voted - For
2.3	Re-elect Nigel Payne as Director		Management	For	Voted - For
2.4	Re-elect Clifford Rosenberg as Director		Management	For	Voted - For
3.1	Re-elect Tasneem Abdool-Samad as Member of the
	Audit and Risk Committee		Management	For	Voted - For
3.2	Re-elect Paul Baloyi as Member of the Audit and
	Risk Committee		Management	For	Voted - For
3.3	Elect Keneilwe Moloko as Member of the Audit and
	Risk Committee		Management	For	Voted - For
3.4	Re-elect Nigel Payne as Member of the Audit and
	Risk Committee		Management	For	Voted - For
3.5	Re-elect Helen Wiseman as Chairman of the Audit and
	Risk Committee		Management	For	Voted - For
4.1	Approve Remuneration Policy		Management	For	Voted - For
4.2	Approve Implementation of Remuneration Policy		Management	For	Voted - For
5	Place Authorised but Unissued Shares under Control
	of Directors		Management	For	Voted - For
6	Authorise Board to Issue Shares for Cash		Management	For	Voted - For
7	Approve Pro Rata Reduction of Stated Capital in
	lieu of Dividend		Management	For	Voted - For
8	Authorise Creation and Issuance of Convertible
	Debentures or Other Convertible Instruments		Management	For	Voted - For
9	Authorise Ratification of Approved Resolutions		Management	For	Voted - For
10	Authorise Repurchase of Issued Share Capital		Management	For	Voted - For
11.1	Approve Fees of the Chairman		Management	For	Voted - For
11.2	Approve Fees of the Lead Independent Non-executive
	Director (SA)		Management	For	Voted - For
11.3	Approve Fees of the Lead Independent Director
	(International) (AUD)		Management	For	Voted - For
11.4	Approve Fees of the Non-executive Directors (SA)		Management	For	Voted - For

6

	Ninety One Emerging Markets Equity Fund
Proposal		Proposed by	Mgt. Position	Registrant Voted
11.5	Approve Fees of the Non-executive Directors
	(International) (AUD)	Management	For	Voted - For
11.6	Approve Fees of the Audit and Risk Committee
	Chairman (International) (AUD)	Management	For	Voted - For
11.7	Approve Fees of the Audit and Risk Committee
	Chairman (SA)	Management	For	Voted - For
11.8	Approve Fees of the Audit and Risk Committee Member
	(SA)	Management	For	Voted - For
11.9	Approve Fees of the Audit and Risk Committee Member
	(International) (AUD)	Management	For	Voted - For
11.10Approve Fees of the Remuneration Committee Chairman
	(SA)	Management	For	Voted - For
11.11Approve Fees of the Remuneration Committee Chairman
	(International) (AUD)	Management	For	Voted - For
11.12Approve Fees of the Remuneration Committee Member
	(SA)	Management	For	Voted - For
11.13Approve Fees of the Remuneration Committee Member
	(International) (AUD)	Management	For	Voted - For
11.14Approve Fees of the Nominations Committee Chairman
	(SA)	Management	For	Voted - For
11.15Approve Fees of the Nominations Committee Chairman
	(International) (AUD)	Management	For	Voted - For
11.16Approve Fees of the Nominations Committee Member
	(SA)	Management	For	Voted - For
11.17Approve Fees of the Nominations Committee Member
	(International) (AUD)	Management	For	Voted - For
11.18Approve Fees of the Acquisitions Committee Chairman
	(SA)	Management	For	Voted - For
11.19Approve Fees of the Acquisitions Committee Chairman
	(International) (AUD)	Management	For	Voted - For
11.20Approve Fees of the Acquisitions Committee Member
	(SA)	Management	For	Voted - For
11.21Approve Fees of the Acquisitions Committee Member
	(International) (AUD)	Management	For	Voted - For
11.22Approve Fees of the Social and Ethics Committee
	Chairman (SA)	Management	For	Voted - For
11.23Approve Fees of the Social and Ethics Committee
	Chairman (International) (AUD)	Management	For	Voted - For
11.24Approve Fees of the Social and Ethics Committee
	Member (SA)	Management	For	Voted - For
11.25Approve Fees of the Social and Ethics Committee
	Member (International) (AUD)	Management	For	Voted - For
11.26Approve Fees of the Ad hoc Meetings (SA)		Management	For	Voted - For
11.27Approve Fees of the Ad hoc Meetings (International)
	(AUD)	Management	For	Voted - For
11.28Approve Fees of the Travel per Meeting Cycle (SA)		Management	For	Voted - For
11.29Approve Fees of the Travel per Meeting Cycle
	(International) (AUD)	Management	For	Voted - For
12	Approve Financial Assistance to Related or
	Inter-related Companies and Corporations	Management	For	Voted - For

7

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
BOSIDENG INTERNATIONAL HOLDINGS LIMITED
Security ID: G12652106		Ticker: 3998
Meeting Date: 29-Mar-22		Meeting Type: Extraordinary Shareholders
1	Approve Proposed Annual Caps, Renewal of Framework
	Manufacturing Outsourcing and Agency Agreement and
	Related Transactions		Management	For	Voted - For
CHEMICAL WORKS OF GEDEON RICHTER PLC
Security ID: X3124S107		Ticker: RICHT
Meeting Date: 12-Apr-22		Meeting Type: Annual
1	Approve Use of Electronic Vote Collection Method		Management	For	Voted - For
2	Authorize Company to Produce Sound Recording of
	Meeting Proceedings		Management	For	Voted - For
3	Elect Chairman and Other Meeting Officials		Management	For	Voted - For
4	Approve Consolidated Financial Statements		Management	For	Voted - For
5	Approve Management Board Report on Company's
	Operations, Business Policy, and Financial Standing		Management	For	Voted - For
6	Approve Financial Statements		Management	For	Voted - For
7	Approve Allocation of Income and Dividends of HUF
	225 per Share		Management	For	Voted - For
8	Approve Company's Corporate Governance Statement		Management	For	Voted - For
9	Amend Remuneration Policy		Management	For	Voted - For
10	Approve Remuneration Report		Management	For	Voted - For
11	Amend Bylaws		Management	For	Voted - For
12	Amend Bylaws Re: General Meeting		Management	For	Voted - For
13	Amend Bylaws Re: General Meeting		Management	For	Voted - For
14	Amend Bylaws Re: General Meeting		Management	For	Voted - For
15	Amend Bylaws Re: Management Board		Management	For	Voted - For
16	Amend Bylaws Re: Management and Supervisory Boards		Management	For	Voted - For
17	Amend Bylaws Re: Supervisory Board		Management	For	Voted - For
18	Amend Statute Re: Share Capital		Management	For	Voted - For
19	Approve Report on Share Repurchase Program		Management	For	Voted - For
20	Authorize Share Repurchase Program		Management	For	Voted - For
21	Elect Lajos Csaba Lantos as Management Board Member		Management	For	Voted - For
22	Elect Ilona David as Management Board Member		Management	For	Voted - For
23	Elec tIstvan Hamecz as Management Board Member		Management	For	Voted - For
24	Approve Remuneration of Management Board Members		Management	For	Voted - For
25	Approve Bonus for Management Board Members		Management	For	Voted - For
26	Approve Remuneration of Supervisory Board Members		Management	For	Voted - For
27	Approve Regulations on Supervisory Board		Management	For	Voted - For
28	Approve Auditor's Remuneration		Management	For	Voted - For
29	Transact Other Business		Management	For	Voted - For

8

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
CHINA CONSTRUCTION BANK CORPORATION
Security ID: Y1397N101		Ticker: 939
Meeting Date: 20-Dec-21		Meeting Type: Extraordinary Shareholders
	EGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Elect Lin Hong as Supervisor		Management	For	Voted - For
2	Approve Remuneration Distribution and Settlement
	Plan for Directors for the Year 2020		Management	For	Voted - For
3	Approve Remuneration Distribution and Settlement
	Plan for Supervisors for the Year 2020		Management	For	Voted - For
4	Approve New Provisional Limit on Charitable
	Donations in 2021		Management	For	Voted - For
5	Approve Issuance of Write-Down Undated Capital Bonds		Management	For	Voted - For
6	Approve Issuance of Qualified Write-Down Tier-2
	Capital Instruments		Management	For	Voted - For
Meeting Date: 23-Jun-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For
3	Approve Final Financial Accounts		Management	For	Voted - For
4	Approve Profit Distribution Plan		Management	For	Voted - For
5	Approve Ernst & Young Hua Ming LLP as Domestic
	Auditor and Ernst & Young as International Auditor
	and Authorize Board to Fix Their Remuneration		Management	For	Voted - For
6	Approve Fixed Assets Investment Budget		Management	For	Voted - For
7	Elect Zhang Jinliang as Director		Management	For	Voted - For
8	Elect Tian Bo as Director		Management	For	Voted - For
9	Elect Xia Yang as Director		Management	For	Voted - For
10	Elect Graeme Wheeler as Director		Management	For	Voted - For
11	Elect Michel Madelain as Director		Management	For	Voted - For
12	Elect Wang Yongqing as Supervisor		Management	For	Voted - For
13	Elect Zhao Xijun as Supervisor		Management	For	Voted - For
14	Approve Amendments to the Articles of Association		Management	For	Voted - Against
CHINA LONGYUAN POWER GROUP CORPORATION LIMITED
Security ID: Y1501T101		Ticker: 916
Meeting Date: 23-Jul-21		Meeting Type: Extraordinary Shareholders
	RESOLUTIONS IN RELATION TO THE ABSORPTION AND
	MERGER OF PINGZHUANG ENERGY THROUGH SHARE SWAP BY
	THE ISSUANCE OF A SHARES OF THE COMPANY AND
	DISPOSAL OF MATERIAL ASSETS AND PURCHASE OF ASSETS			Management	For	Non-Voting
1.1	Approve Summary for the Plan for the Transaction		Management	For	Voted - For
1.2	Approve Parties Involved in the Transaction of the
	Merger		Management	For	Voted - For
1.3	Approve Class and Nominal Value of Shares		Management	For	Voted - For

9

	Ninety One Emerging Markets Equity Fund
Proposal		Proposed by	Mgt. Position	Registrant Voted
1.4	Approve Targets of the Share Swap and Registration
	Date of Implementation of the Merger	Management	For	Voted - For
1.5	Approve Issue Price and Conversion Price	Management	For	Voted - For
1.6	Approve Conversion Ratio	Management	For	Voted - For
1.7	Approve Number of Shares to be Issued Under the
	Share Swap	Management	For	Voted - For
1.8	Approve Listing and Trading of A Shares of Longyuan
	Power	Management	For	Voted - For
1.9	Approve Treatment of Fractional Shares	Management	For	Voted - For
1.10	Approve Treatment of Shares of Pingzhuang Energy
	with Restricted Rights	Management	For	Voted - For
1.11	Approve Lock-up Period Arrangement	Management	For	Voted - For
1.12	Approve Protection Mechanism for the Dissenting
	Shareholders of Longyuan Power	Management	For	Voted - For
1.13	Approve Protection Mechanism for the Dissenting
	Shareholders of Pingzhuang Energy	Management	For	Voted - For
1.14	Approve Arrangements in Relation to the Inheritance
	of Assets, Liabilities, Rights, Obligations,
	Business, Qualifications, Responsibilities, and the
	Disposal of Credits and Debts, and the Protection
	of Creditors in Respect of the Merger	Management	For	Voted - For
1.15	Approve Arrangements for the Transitional Period of
	the Merger	Management	For	Voted - For
1.16	Approve Distribution of Retained Profits	Management	For	Voted - For
1.17	Approve Placement of Staff	Management	For	Voted - For
1.18	Approve Parties Involved in the Transaction of the
	Assets Disposal	Management	For	Voted - For
1.19	Approve Assets to be Disposed of	Management	For	Voted - For
1.20	Approve Transaction Price and Pricing Basis for the
	Transaction of the Assets Disposal	Management	For	Voted - For
1.21	Approve Arrangement for the Assets Delivery of the
	Assets Disposal	Management	For	Voted - For
1.22	Approve Profit and Loss of the Assets Disposal	Management	For	Voted - For
1.23	Approve Placement of Staff Involved in the Assets
	Disposal	Management	For	Voted - For
1.24	Approve Parties Involved in the Transaction of the
	Purchase Through Cash	Management	For	Voted - For
1.25	Approve Assets to be Purchased	Management	For	Voted - For
1.26	Approve Transaction Price and Pricing Basis for the
	Transaction of the Purchase Through Cash	Management	For	Voted - For
1.27	Approve Arrangement for the Assets Delivery of the
	Purchase Through Cash	Management	For	Voted - For
1.28	Approve Profit and Loss of the Purchase Through
	Cash During the Transitional Period	Management	For	Voted - For
1.29	Approve Placement of Staff Involved in the Purchase
	of Assets Through Cash	Management	For	Voted - For
1.30	Approve Performance Commitment and Compensation
	Involved in the Purchase of Assets Through Cash	Management	For	Voted - For
1.31	Approve Validity Period of Resolutions	Management	For	Voted - For
2	Approve Agreement on Absorption and Merger Through
	Share Swap of China Longyuan Power Group
	Corporation Limited and Inner Mongolia Pingzhuang
	Energy Co., Ltd. and its Supplemental Agreement	Management	For	Voted - For

10

	Ninety One Emerging Markets Equity Fund
Proposal		Proposed by	Mgt. Position	Registrant Voted
3	Approve Assets Disposal Agreement Among Inner
	Mongolia Pingzhuang Energy Co., Ltd., China
	Longyuan Power Group Corporation Limited and CHN
	Energy Inner Mongolia Power Co., Ltd. and its
	Supplemental Agreement	Management	For	Voted - For
4	Approve Agreement on Purchase of Assets Through
	Cash Payment and its Supplemental Agreement with
	Effective Conditions	Management	For	Voted - For
5	Approve Profit Compensation Agreement of the
	Company and Related Parties	Management	For	Voted - For
6	Approve A Share Price Stabilization Plan of China
	Longyuan Power Group Corporation Limited	Management	For	Voted - For
7	Approve Dividend Distribution Plan for the Three
	Years After the Absorption and Merger of Inner
	Mongolia Pingzhuang Energy Co., Ltd. through Share
	Swap by the Issuance of A Shares and Disposal of
	Material Assets and Purchase of Assets through Cash
	Payment	Management	For	Voted - For
8	Approve Dilution of Immediate Returns by the
	Transaction and Proposed Remedial Measures	Management	For	Voted - For
9	Approve Articles of Association and its Appendices
	Applicable After the Listing of A Shares of the
	Company	Management	For	Voted - For
10	Approve Authorization of Board to Handle All
	Related Matters	Management	For	Voted - For
11	Approve Specific Mandate to Grant the Additional A
	Shares Issue	Management	For	Voted - For
12	Approve Supplemental Undertaking Letter in Relation
	to Non-Competition with China Longyuan Power Group
	Corporation Limited	Management	For	Voted - For
13	Approve Absorption and Merger of Pingzhuang Energy
	through Share Swap by the Company and Disposal of
	Material Assets and Purchase of Assets through Cash
	Payment	Management	For	Voted - For
14	Approve Report of the Absorption and Merger of
	Inner Mongolia Pingzhuang Energy Co., Ltd. through
	Share Swap and Disposal of Material Assets and
	Purchase of Assets through Cash Payment and Related
	Party Transactions and its Summary	Management	For	Voted - For
15	Approve Audit Report Related to the Transaction	Management	For	Voted - For
16	Approve Assessment Report Related to the Transaction	Management	For	Voted - For
17	Approve Independence of the Valuation Agency,
	Reasonableness of Valuation Assumptions, Relevance
	of Valuation Methods and Valuation Purposes, and
	Fairness of Valuation and Pricing	Management	For	Voted - For
18	Approve Self-Evaluation Report of the Internal
	Control of the Company	Management	For	Voted - For
19	Approve Confirmation of the Valuation Report
	Related to the Merger	Management	For	Voted - For
20	Approve Independence of the Appraisal Agency,
	Reasonableness of Appraisal Assumptions, Relevance
	of Appraisal Methods and Appraisal Purposes, and
	Fairness of Appraisal and Pricing	Management	For	Voted - For

11

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
21	Approve Relevant Commitments and Restraint Measures
	Issued by the Company Regarding the Transaction		Management	For	Voted - For
22	Approve Administrative Measures for External
	Guarantees		Management	For	Voted - For
23	Approve Confirmation of the Related Party
	Transactions During the Reporting Period		Management	For	Voted - For
Meeting Date: 23-Jul-21		Meeting Type: Special
	CLASS MEETING FOR HOLDERS OF H SHARES		Management	For	Non-Voting
	RESOLUTIONS IN RELATION TO THE ABSORPTION AND
	MERGER OF PINGZHUANG ENERGY THROUGH SHARE SWAP BY
	THE ISSUANCE OF A SHARES OF THE COMPANY AND
	DISPOSAL OF MATERIAL ASSETS AND PURCHASE OF ASSETS			Management	For	Non-Voting
1.1	Approve Summary for the Plan for the Transaction		Management	For	Voted - For
1.2	Approve Parties Involved in the Transaction of the
	Merger		Management	For	Voted - For
1.3	Approve Class and Nominal Value of Shares		Management	For	Voted - For
1.4	Approve Targets of the Share Swap and Registration
	Date of Implementation of the Merger		Management	For	Voted - For
1.5	Approve Issue Price and Conversion Price		Management	For	Voted - For
1.6	Approve Conversion Ratio		Management	For	Voted - For
1.7	Approve Number of Shares to be Issued Under the
	Share Swap		Management	For	Voted - For
1.8	Approve Listing and Trading of A Shares of Longyuan
	Power		Management	For	Voted - For
1.9	Approve Treatment of Fractional Shares		Management	For	Voted - For
1.10	Approve Treatment of Shares of Pingzhuang Energy
	with Restricted Rights		Management	For	Voted - For
1.11	Approve Lock-up Period Arrangement		Management	For	Voted - For
1.12	Approve Protection Mechanism for the Dissenting
	Shareholders of Longyuan Power		Management	For	Voted - For
1.13	Approve Protection Mechanism for the Dissenting
	Shareholders of Pingzhuang Energy		Management	For	Voted - For
1.14	Approve Arrangements in Relation to the Inheritance
	of Assets, Liabilities, Rights, Obligations,
	Business, Qualifications, Responsibilities, and the
	Disposal of Credits and Debts, and the Protection
	of Creditors in Respect of the Merger		Management	For	Voted - For
1.15	Approve Arrangements for the Transitional Period of
	the Merger		Management	For	Voted - For
1.16	Approve Distribution of Retained Profits		Management	For	Voted - For
1.17	Approve Placement of Staff		Management	For	Voted - For
1.18	Approve Parties Involved in the Transaction of the
	Assets Disposal		Management	For	Voted - For
1.19	Approve Assets to be Disposed of		Management	For	Voted - For
1.20	Approve Transaction Price and Pricing Basis for the
	Transaction of the Assets Disposal		Management	For	Voted - For
1.21	Approve Arrangement for the Assets Delivery of the
	Assets Disposal		Management	For	Voted - For
1.22	Approve Profit and Loss of the Assets Disposal		Management	For	Voted - For
1.23	Approve Placement of Staff Involved in the Assets
	Disposal		Management	For	Voted - For

12

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
1.24	Approve Parties Involved in the Transaction of the
	Purchase Through Cash		Management	For	Voted - For
1.25	Approve Assets to be Purchased		Management	For	Voted - For
1.26	Approve Transaction Price and Pricing Basis for the
	Transaction of the Purchase Through Cash		Management	For	Voted - For
1.27	Approve Arrangement for the Assets Delivery of the
	Purchase Through Cash		Management	For	Voted - For
1.28	Approve Profit and Loss of the Purchase Through
	Cash During the Transitional Period		Management	For	Voted - For
1.29	Approve Placement of Staff Involved in the Purchase
	of Assets Through Cash		Management	For	Voted - For
1.30	Approve Performance Commitment and Compensation
	Involved in the Purchase of Assets Through Cash		Management	For	Voted - For
1.31	Approve Validity Period of Resolutions		Management	For	Voted - For
2	Approve Agreement on Absorption and Merger Through
	Share Swap of China Longyuan Power Group
	Corporation Limited and Inner Mongolia Pingzhuang
	Energy Co., Ltd. and its Supplemental Agreement		Management	For	Voted - For
3	Approve Assets Disposal Agreement Among Inner
	Mongolia Pingzhuang Energy Co., Ltd., China
	Longyuan Power Group Corporation Limited and CHN
	Energy Inner Mongolia Power Co., Ltd. and its
	Supplemental Agreement		Management	For	Voted - For
4	Approve Agreement on Purchase of Assets Through
	Cash Payment and its Supplemental Agreement with
	Effective Conditions		Management	For	Voted - For
5	Approve Profit Compensation Agreement of the
	Company and Related Parties		Management	For	Voted - For
6	Approve Dividend Distribution Plan for the Three
	Years After the Absorption and Merger of Inner
	Mongolia Pingzhuang Energy Co., Ltd. through Share
	Swap by the Issuance of A Shares and Disposal of
	Material Assets and Purchase of Assets through Cash
	Payment		Management	For	Voted - For
7	Approve Articles of Association and its Appendices
	Applicable After the Listing of A Shares of the
	Company		Management	For	Voted - For
8	Approve Authorization of Board to Handle All
	Related Matters		Management	For	Voted - For
9	Approve Specific Mandate to Grant the Additional A
	Shares Issue		Management	For	Voted - For
Meeting Date: 12-Nov-21		Meeting Type: Extraordinary Shareholders
	ELECT DIRECTORS		Management	For	Non-Voting
1.1	Elect Li Zhongjun as Director		Management	For	Voted - Abstain
1.2	Elect Tang Jian as Director		Management	For	Voted - For
1.3	Elect Liu Jinhuan as Director		Management	For	Voted - For
1.4	Elect Tian Shaolin as Director		Management	For	Voted - For
1.5	Elect Tang Chaoxiong as Director		Management	For	Voted - For
1.6	Elect Michael Ngai Ming Tak as Director		Management	For	Voted - For
1.7	Elect Gao Debu as Director		Management	For	Voted - For
1.8	Elect Zhao Feng as Director		Management	For	Voted - For

13

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
	ELECT SUPERVISORS		Management	For	Non-Voting
2.1	Elect Shao Junjie as Supervisor		Management	For	Voted - For
2.2	Elect Hao Jingru as Supervisor		Management	For	Voted - For
Meeting Date: 14-Jan-22		Meeting Type: Extraordinary Shareholders
1	Elect Wang Yiguo as Director		Management	For	Voted - For
2	Approve Da Hua Certified Public Accountants
	(Special General Partnership) as PRC Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
Meeting Date: 27-Apr-22		Meeting Type: Extraordinary Shareholders
	EGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Elect Ma Bingyan as Director		Shareholder	For	Voted - For
Meeting Date: 22-Jun-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Annual Report		Management	For	Voted - For
2	Approve Report of the Board of Directors		Management	For	Voted - For
3	Approve Report of the Supervisory Board		Management	For	Voted - For
4	Approve Audited Financial Statements and Final
	Accounts Report		Management	For	Voted - For
5	Approve Profit Distribution Plan		Management	For	Voted - For
6	Approve Financial Budget Plan		Management	For	Voted - Against
7	Approve Remuneration Plan for Directors and
	Supervisors		Management	For	Voted - For
8	Approve Da Hua Certified Public Accountants
	(Special General Partnership) as PRC Auditor and
	Authorize the Audit Committee of the Board to Fix
	Their Remuneration		Management	For	Voted - For
9	Approve Ernst & Young as International Auditor and
	Authorize the Audit Committee of the Board to Fix
	Their Remuneration		Management	For	Voted - For
10	Approve Grant of General Mandate to Apply for
	Registration and Issuance of Debt Financing
	Instruments in the PRC		Management	For	Voted - For
11	Approve Grant of General Mandate to Apply for
	Registration and Issuance of Debt Financing
	Instruments Overseas		Management	For	Voted - For
12	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - Against
13	Approve New Financial Services Agreement		Shareholder	For	Voted - Against
CHINA PETROLEUM & CHEMICAL CORPORATION
Security ID: Y15010104		Ticker: 386
Meeting Date: 18-May-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting

14

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
1	Approve Report of the Board of Directors of Sinopec
	Corp.		Management	For	Voted - For
2	Approve Report of the Board of Supervisors of
	Sinopec Corp.		Management	For	Voted - For
3	Approve Audited Financial Reports of Sinopec Corp.		Management	For	Voted - For
4	Approve Profit Distribution Plan of Sinopec Corp.		Management	For	Voted - For
5	Approve Interim Profit Distribution Plan of Sinopec
	Corp.		Management	For	Voted - For
6	Approve KPMG Huazhen (Special General Partnership)
	and KPMG as External Auditors of Sinopec Corp. and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
7	Authorize Board to Determine the Proposed Plan for
	Issuance of Debt Financing Instrument(s)		Management	For	Voted - Against
8	Approve Grant to the Board a General Mandate to
	Issue New Domestic Shares and/or Overseas-Listed
	Foreign Shares of Sinopec Corp.		Management	For	Voted - Against
9	Approve Grant to the Board a General Mandate to Buy
	Back Domestic Shares and/or Overseas-Listed Foreign
	Shares of Sinopec Corp.		Management	For	Voted - For
	ELECT SUPERVISORS VIA CUMULATIVE VOTING		Management	For	Non-Voting
10.01Elect Qiu Fasen as Supervisor			Shareholder	For	Voted - For
10.02Elect Lv Lianggong as Supervisor			Shareholder	For	Voted - For
10.03Elect Wu Bo as Supervisor			Shareholder	For	Voted - For
10.04Elect Zhai Yalin as Supervisor			Shareholder	For	Voted - For
Meeting Date: 18-May-22		Meeting Type: Special
	CLASS MEETING FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Grant to the Board a General Mandate to Buy
	Back Domestic Shares and/or Overseas-Listed Foreign
	Shares of Sinopec Corp.		Management	For	Voted - For
CHINA RESOURCES GAS GROUP LIMITED
Security ID: G2113B108 Ticker: 1193
Meeting Date: 20-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3.1	Elect Wang Chuandong as Director		Management	For	Voted - For
3.2	Elect Yang Ping as Director		Management	For	Voted - For
3.3	Elect Wang Gaoqiang as Director		Management	For	Voted - Against
3.4	Elect Liu Xiaoyong as Director		Management	For	Voted - For
3.5	Elect Liu Jian as Director		Management	For	Voted - Against
3.6	Elect Wong Tak Shing as Director		Management	For	Voted - Against
3.7	Elect Yu Hon To, David as Director		Management	For	Voted - For
3.8	Elect Hu Xiaoyong, David as Director		Management	For	Voted - For
3.9	Authorize Board to Fix Remuneration of Directors		Management	For	Voted - For
4	Approve Ernst & Young as Auditor and Authorize
	Board to Fix Their Remuneration		Management	For	Voted - For

15

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
5A	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - Against
5B	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
5C	Authorize Reissuance of Repurchased Shares		Management	For	Voted - Against
6	Adopt New Bye-Laws		Management	For	Voted - For
CIMB GROUP HOLDINGS BERHAD
Security ID: Y1636J101		Ticker: 1023
Meeting Date: 21-Apr-22		Meeting Type: Annual
1	Elect Teoh Su Yin as Director		Management	For	Voted - For
2	Elect Lee Kok Kwan as Director		Management	For	Voted - For
3	Elect Mohamed Ross Mohd Din as Director		Management	For	Voted - For
4	Approve Directors' Fees		Management	For	Voted - For
5	Approve Directors' Allowances and Benefits		Management	For	Voted - For
6	Approve PricewaterhouseCoopers as Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
7	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
8	Approve Issuance of New Ordinary Shares Under the
	Dividend Reinvestment Scheme		Management	For	Voted - For
9	Authorize Share Repurchase Program		Management	For	Voted - For
CITIC LIMITED
Security ID: Y1639J116		Ticker: 267
Meeting Date: 14-Jun-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Elect Li Qingping as Director		Management	For	Voted - For
4	Elect Zhang Lin as Director		Management	For	Voted - Against
5	Elect Yang Xiaoping as Director		Management	For	Voted - For
6	Elect Tang Jiang as Director		Management	For	Voted - Against
7	Elect Francis Siu Wai Keung as Director		Management	For	Voted - Against
8	Elect Anthony Francis Neoh as Director		Management	For	Voted - For
9	Elect Gregory Lynn Curl as Director		Management	For	Voted - For
10	Approve PricewaterhouseCoopers as Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
11	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - Against
12	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD.
Security ID: Y1R48E105 Ticker: 300750
Meeting Date: 31-Aug-21		Meeting Type: Special
1	Approve Company's Eligibility for Share Issuance		Management	For	Voted - For

16

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
	APPROVE PLAN ON ISSUANCE OF SHARES		Management	For	Non-Voting
2.1	Approve Issue Type and Par Value		Management	For	Voted - For
2.2	Approve Issue Manner and Issue Time		Management	For	Voted - For
2.3	Approve Target Subscribers and Subscription Method		Management	For	Voted - For
2.4	Approve Pricing Reference Date, Issue Price and
	Pricing Basis		Management	For	Voted - For
2.5	Approve Issue Size		Management	For	Voted - For
2.6	Approve Lock-up Period		Management	For	Voted - For
2.7	Approve Amount and Usage of Raised Funds		Management	For	Voted - For
2.8	Approve Distribution Arrangement of Undistributed
	Earnings		Management	For	Voted - For
2.9	Approve Resolution Validity Period		Management	For	Voted - For
2.10	Approve Listing Exchange		Management	For	Voted - For
3	Approve Share Issuance		Management	For	Voted - For
4	Approve Demonstration Analysis Report in Connection
	to Share Issuance		Management	For	Voted - For
5	Approve Feasibility Analysis Report on the Use of
	Proceeds		Management	For	Voted - For
6	Approve Report on the Usage of Previously Raised
	Funds		Management	For	Voted - For
7	Approve Impact of Dilution of Current Returns on
	Major Financial Indicators and the Relevant
	Measures to be Taken		Management	For	Voted - For
8	Approve Shareholder Return Plan		Management	For	Voted - For
9	Approve Authorization of Board to Handle All
	Related Matters		Management	For	Voted - For
Meeting Date: 12-Nov-21		Meeting Type: Special
1	Approve Draft and Summary of Stock Options and
	Performance Share Incentive Plan		Management	For	Voted - Against
2	Approve Methods to Assess the Performance of Plan
	Participants		Management	For	Voted - Against
3	Approve Authorization of the Board to Handle All
	Related Matters		Management	For	Voted - Against
4	Approve Additional and Adjustment of Guarantee
	Provision Plan		Management	For	Voted - For
Meeting Date: 30-Dec-21		Meeting Type: Special
	ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE
	VOTING		Management	For	Non-Voting
1.1	Elect Zeng Yuqun as Director		Management	For	Voted - For
1.2	Elect Li Ping as Director		Management	For	Voted - For
1.3	Elect Huang Shilin as Director		Management	For	Voted - For
1.4	Elect Pan Jian as Director		Management	For	Voted - Against
1.5	Elect Zhou Jia as Director		Management	For	Voted - For
1.6	Elect Wu Kai as Director		Management	For	Voted - For
	ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING			Management	For	Non-Voting
2.1	Elect Xue Zuyun as Director		Management	For	Voted - For
2.2	Elect Cai Xiuling as Director		Management	For	Voted - For
2.3	Elect Hong Bo as Director		Management	For	Voted - For

17

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
	ELECT SUPERVISORS VIA CUMULATIVE VOTING		Management	For	Non-Voting
3.1	Elect Wu Yingming as Supervisor		Management	For	Voted - For
3.2	Elect Feng Chunyan as Supervisor		Management	For	Voted - For
Meeting Date: 18-May-22		Meeting Type: Annual
1	Approve Annual Report and Summary		Management	For	Voted - For
2	Approve Report of the Board of Directors		Management	For	Voted - For
3	Approve Report of the Board of Supervisors		Management	For	Voted - For
4	Approve Profit Distribution		Management	For	Voted - For
5	Approve Financial Statements		Management	For	Voted - For
	APPROVE REMUNERATION OF DIRECTORS		Management	For	Non-Voting
6.1	Approve Remuneration of Directors of Zeng Yuqun		Management	For	Voted - For
6.2	Approve Remuneration of Directors of Li Ping		Management	For	Voted - For
6.3	Approve Remuneration of Directors of Huang Shilin		Management	For	Voted - For
6.4	Approve Remuneration of Directors of Pan Jian		Management	For	Voted - For
6.5	Approve Remuneration of Directors of Zhou Jia		Management	For	Voted - For
6.6	Approve Remuneration of Directors of Wu Kai		Management	For	Voted - For
6.7	Approve Remuneration of Directors of Xue Zuyun		Management	For	Voted - For
6.8	Approve Remuneration of Directors of Hong Bo		Management	For	Voted - For
6.9	Approve Remuneration of Directors of Cai Xiuling		Management	For	Voted - For
6.10	Approve Remuneration of Directors of Wang Hongbo		Management	For	Voted - For
	APPROVE REMUNERATION OF SUPERVISORS		Management	For	Non-Voting
7.1	Approve Remuneration of Supervisors of Wu Yingming		Management	For	Voted - For
7.2	Approve Remuneration of Supervisors of Feng Chunyan		Management	For	Voted - For
7.3	Approve Remuneration of Supervisors of Liu Na		Management	For	Voted - For
7.4	Approve Remuneration of Supervisors of Wang Siye		Management	For	Voted - For
8	Approve Purchase of Liability Insurance for
	Directors, Supervisors and Senior Management Members		Management	For	Voted - For
9	Approve Guarantee Plan		Management	For	Voted - Against
10	Approve Application of Credit Lines		Management	For	Voted - Against
11	Approve to Appoint Auditor		Management	For	Voted - Against
12	Approve Proposal on Repurchase and Cancellation of
	Performance Shares Deliberated at the 34th Meeting
	of the Board of Directors		Management	For	Voted - For
13	Approve Proposal on Repurchase and Cancellation of
	Performance Shares Deliberated at the 3rd Meeting
	of the Board of Directors		Management	For	Voted - For
14	Amend Articles of Association		Management	For	Voted - Against
15	Amend Company System		Management	For	Voted - Against
16	Approve Investment in the Construction of Power
	Battery Industry Chain Project		Management	For	Voted - For
EAST MONEY INFORMATION CO., LTD.
Security ID: Y2234B102		Ticker: 300059
Meeting Date: 08-Apr-22		Meeting Type: Annual
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For

18

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3	Approve Financial Statements		Management	For	Voted - For
4	Approve Annual Report and Summary		Management	For	Voted - For
5	Approve Profit Distribution and Capitalization of
	Capital Reserves		Management	For	Voted - For
6	Approve Registered Capital and Amend Articles of
	Association		Management	For	Voted - For
7	Approve to Appoint Auditor		Management	For	Voted - For
8	Approve Provision of Credit Line, Loan and
	Guarantee to Subsidiary		Management	For	Voted - For
EMAAR PROPERTIES PJSC
Security ID: M4025S107 Ticker: EMAAR
Meeting Date: 20-Apr-22		Meeting Type: Annual
	Ordinary Business		Management	For	Non-Voting
1	Approve Board Report on Company Operations and
	Financial Position for FY 2021		Management	For	Voted - For
2	Approve Auditors' Report on Company Financial
	Statements for FY 2021		Management	For	Voted - For
3	Accept Financial Statements and Statutory Reports
	for FY 2021		Management	For	Voted - For
4	Approve Dividends of AED 0.15 per Share		Management	For	Voted - For
5	Approve Remuneration of Directors		Management	For	Voted - For
6	Approve Discharge of Directors for FY 2021		Management	For	Voted - For
7	Approve Discharge of Emaar Malls Directors for
	Fiscal Year Ended on November 21, 2021 Merging Date
	of Emaar Malls		Management	For	Voted - For
8	Approve Discharge of Auditors for FY 2021		Management	For	Voted - For
9	Ratify Auditors and Fix Their Remuneration for FY
	2022		Management	For	Voted - Against
10	Allow Directors to Engage in Commercial
	Transactions with Competitors		Management	For	Voted - For
	Extraordinary Business		Management	For	Non-Voting
11	Authorize Share Repurchase Program of up to 1
	Percent of Share Capital and Authorize Directors to
	Execute the Resolution and Reduce Share Capital by
	Cancelling Repurchased Shares		Management	For	Voted - For
12	Approve Charitable Donations for FY 2022 up to 2
	Percent of Annual Net Profit		Management	For	Voted - For
13	Amend Articles of Bylaws		Management	For	Voted - For
E-MART, INC.
Security ID: Y228A3102		Ticker: 139480
Meeting Date: 29-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For

19

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
ENN ENERGY HOLDINGS LIMITED
Security ID: G3066L101		Ticker: 2688
Meeting Date: 18-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3a1	Elect Wu Xiaojing as Director		Management	For	Voted - For
3a2	Elect Wang Dongzhi as Director		Management	For	Voted - For
3a3	Elect Zhang Yuying as Director		Management	For	Voted - For
3a4	Elect Law Yee Kwan, Quinn as Director		Management	For	Voted - For
3a5	Elect Yien Yu Yu, Catherine as Director		Management	For	Voted - For
3b	Authorize Board to Fix Remuneration of Directors		Management	For	Voted - For
4	Approve Deloitte Touche Tohmatsu as Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
5	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
6	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
7	Adopt New Share Option Scheme		Management	For	Voted - Against
8	Approve Termination of 2012 Share Option Scheme		Management	For	Voted - For
FILA HOLDINGS CORP.
Security ID: Y2484W103 Ticker: 081660
Meeting Date: 29-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1	Elect Yoon Geun-chang as Inside Director		Management	For	Voted - For
2.2	Elect Lee Hak-woo as Non-Independent Non-Executive
	Director		Management	For	Voted - For
2.3	Elect Kim Seok as Outside Director		Management	For	Voted - For
3	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
4	Authorize Board to Fix Remuneration of Internal
	Auditor(s)		Management	For	Voted - For
FIRSTRAND LTD.
Security ID: S5202Z131		Ticker: FSR
Meeting Date: 01-Dec-21		Meeting Type: Annual
	Ordinary Resolutions		Management	For	Non-Voting
1.1	Elect Johan Burger as Director		Management	For	Voted - For
1.2	Re-elect Tom Winterboer as Director		Management	For	Voted - For
1.3	Elect Sibusiso Sibisi as Director		Management	For	Voted - For
2.1	Reappoint Deloitte & Touche as Auditors of the
	Company		Management	For	Voted - For
2.2	Reappoint PricewaterhouseCoopers Inc as Auditors of
	the Company		Management	For	Voted - For

20

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3	Authorise Board to Issue Shares for Cash		Management	For	Voted - For
4	Authorise Ratification of Approved Resolutions		Management	For	Voted - For
	Advisory Endorsement		Management	For	Non-Voting
1	Approve Remuneration Policy		Management	For	Voted - For
2	Approve Remuneration Implementation Report		Management	For	Voted - For
	Special Resolutions		Management	For	Non-Voting
1	Authorise Repurchase of Issued Share Capital		Management	For	Voted - For
2.1	Approve Financial Assistance to Directors and
	Prescribed Officers as Employee Share Scheme
	Beneficiaries		Management	For	Voted - For
2.2	Approve Financial Assistance to Related and
	Inter-related Entities		Management	For	Voted - For
3	Approve Remuneration of Non-Executive Directors		Management	For	Voted - For
FUBON FINANCIAL HOLDING CO., LTD.
Security ID: Y26528102		Ticker: 2881
Meeting Date: 05-Nov-21		Meeting Type: Special
1	Approve Merger of the Company and Jih Sun Financial
	Holding Co., Ltd.		Management	For	Voted - For
Meeting Date: 17-Jun-22		Meeting Type: Annual
	AGM AGENDA FOR HOLDERS OF COMMON SHARES		Management	For	Non-Voting
1	Approve Business Operations Report and Financial
	Statements		Management	For	Voted - For
2	Approve Plan on Profit Distribution		Management	For	Voted - For
3	Approve Issuance of New Shares from Capital Reserves		Management	For	Voted - For
4	Approve to Reflect JihSun Financial Holding Co.,
	Ltd.'s Distribution of Year 2021 Earnings, the
	Company Plans to Adjust the Price of the Merger and
	to Execute an Amendment to the Merger Agreement
	with JihSun		Management	For	Voted - For
5	Approve Plan to Raise Long-term Capital		Management	For	Voted - For
6	Approve Amendments to Articles of Association		Management	For	Voted - For
7	Approve Amendments to Rules and Procedures
	Regarding Shareholder's General Meeting		Management	For	Voted - For
8	Approve Amendments to Procedures Governing the
	Acquisition or Disposal of Assets		Management	For	Voted - For
9	Approve Release of Restrictions of Competitive
	Activities of RICHARD M. TSAI		Management	For	Voted - For
10	Approve Release of Restrictions of Competitive
	Activities of DANIEL M. TSAI		Management	For	Voted - For
11	Approve Release of Restrictions of Competitive
	Activities of ALAN WANG		Management	For	Voted - For
12	Approve Release of Restrictions of Competitive
	Activities of ERIC CHEN		Management	For	Voted - For
13	Approve Release of Restrictions of Competitive
	Activities of JERRY HARN		Management	For	Voted - For
	ELECT INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING			Management	For	Non-Voting

21

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
14.1	Elect XIANG-WEI, LAI, with SHAREHOLDER
	NO.F120098XXX as Independent Director		Management	For	Voted - For
GLAND PHARMA LTD.
Security ID: Y270BD119 Ticker: 543245
Meeting Date: 26-Aug-21		Meeting Type: Annual
1	Accept Standalone Financial Statements and
	Statutory Reports		Management	For	Voted - For
2	Accept Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Reelect Srinivas Sadu as Director		Management	For	Voted - For
4	Reelect Li Dongming as Director		Management	For	Voted - For
5	Elect Naina Lal Kidwai as Director		Management	For	Voted - For
6	Elect Jia Ai Zhang (Allen Zhang) as Director		Management	For	Voted - For
7	Elect Udo Johannes Vetter as Director		Management	For	Voted - For
8	Approve Commission on Profits as Remuneration to
	Naina Lal Kidwai as Independent Director		Management	For	Voted - For
9	Approve Commission on Profits as Remuneration to
	Essaji Vahanvati as Independent Director		Management	For	Voted - For
10	Approve Commission on Profits as Remuneration to
	Udo Johannes Vetter as Independent Director		Management	For	Voted - For
11	Approve Revision in Remuneration to C.S.N. Murthy
	as Independent Director		Management	For	Voted - For
Meeting Date: 20-Apr-22		Meeting Type: Special
	Postal Ballot		Management	For	Non-Voting
1	Approve Reappointment and Remuneration of Srinivas
	Sadu as Managing Director & CEO		Management	For	Voted - For
2	Elect Yao Fang as Director		Management	For	Voted - For
GRUPO MEXICO S.A.B. DE C.V.
Security ID: P49538112		Ticker: GMEXICOB
Meeting Date: 28-Apr-22		Meeting Type: Annual
1	Approve Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
2	Present Report on Compliance with Fiscal Obligations		Management	For	Voted - For
3	Approve Allocation of Income		Management	For	Voted - For
4	Approve Policy Related to Acquisition of Own
	Shares; Set Aggregate Nominal Amount of Share
	Repurchase Reserve		Management	For	Voted - For
5	Approve Discharge of Board of Directors, Executive
	Chairman and Board Committees		Management	For	Voted - For
6	Ratify Auditors		Management	For	Voted - Against
7	Elect or Ratify Directors; Verify Independence of
	Board Members; Elect or Ratify Chairmen and Members
	of Board Committees		Management	For	Voted - Against

22

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
8	Approve Granting/Withdrawal of Powers		Management	For	Voted - Against
9	Approve Remuneration of Directors and Members of
	Board Committees		Management	For	Voted - For
10	Authorize Board to Ratify and Execute Approved
	Resolutions		Management	For	Voted - For
HACI OMER SABANCI HOLDING AS
Security ID: M8223R100 Ticker: SAHOL.E
Meeting Date: 30-Mar-22		Meeting Type: Annual
	Annual Meeting Agenda		Management	For	Non-Voting
1	Open Meeting and Elect Presiding Council of Meeting		Management	For	Voted - For
2	Accept Board Report		Management	For	Voted - For
3	Accept Audit Report		Management	For	Voted - For
4	Accept Financial Statements		Management	For	Voted - For
5	Approve Discharge of Board		Management	For	Voted - For
6	Approve Allocation of Income		Management	For	Voted - For
7	Elect Directors		Management	For	Voted - Against
8	Approve Director Remuneration		Management	For	Voted - For
9	Ratify External Auditors		Management	For	Voted - For
10	Receive Information on Donations Made in 2021		Management	For	Non-Voting
11	Approve Upper Limit of Donations for 2022		Management	For	Voted - Against
12	Approve Share Repurchase Program		Management	For	Voted - For
13	Grant Permission for Board Members to Engage in
	Commercial Transactions with Company and Be
	Involved with Companies with Similar Corporate
	Purpose in Accordance with Articles 395 and 396 of
	Turkish Commercial Law		Management	For	Voted - For
HAIER SMART HOME CO., LTD.
Security ID: Y298BN100 Ticker: 6690
Meeting Date: 15-Sep-21		Meeting Type: Extraordinary Shareholders
	EGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve 2021 A Share Option Incentive Scheme
	(Draft) and its Summary		Management	For	Voted - For
2	Approve Appraisal Management Measures of the 2021 A
	Share Option Incentive Scheme		Management	For	Voted - For
3	Authorize Board to Handle All Matters in Relation
	to the 2021 A Share Option Incentive Scheme		Management	For	Voted - For
Meeting Date: 15-Sep-21		Meeting Type: Special
	CLASS MEETING FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve 2021 A Share Option Incentive Scheme
	(Draft) and its Summary		Management	For	Voted - For
2	Approve Appraisal Management Measures of the 2021 A
	Share Option Incentive Scheme		Management	For	Voted - For

23

	Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3	Authorize Board to Handle All Matters in Relation
	to the 2021 A Share Option Incentive Scheme		Management	For	Voted - For
Meeting Date: 28-Jun-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Financial Statements		Management	For	Voted - For
2	Approve Annual Report and Its Summary		Management	For	Voted - For
3	Approve Report on the Work of the Board of Directors		Management	For	Voted - For
4	Approve Report on the Work of the Board of
	Supervisors		Management	For	Voted - For
5	Approve Audit Report on Internal Control		Management	For	Voted - For
6	Approve Profit Distribution Plan		Management	For	Voted - For
7	Approve Appointment of PRC Accounting Standards
	Auditor		Management	For	Voted - For
8	Approve Appointment of International Accounting
	Standards Auditor		Management	For	Voted - For
9	Approve Anticipated Provision of Guarantees for Its
	Subsidiaries		Management	For	Voted - For
10	Approve Conduct of Foreign Exchange Fund
	Derivatives Business		Management	For	Voted - For
11	Approve Registration and Issuance of Debt Financing
	Instruments		Management	For	Voted - For
12	Approve Adjustment of Allowances of Directors		Management	For	Voted - For
13	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights for Additional
	Issuance of A Shares		Management	For	Voted - Against
14	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights for Additional
	Issuance of H Shares		Management	For	Voted - Against
15	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights for Additional
	Issuance of D Shares		Management	For	Voted - For
16	Approve Grant of General Mandate to the Board to
	Repurchase H Shares		Management	For	Voted - For
17	Approve Grant of General Mandate to the Board to
	Repurchase D Shares		Management	For	Voted - For
18	Approve Renewal of the Products and Materials
	Procurement Framework Agreement		Shareholder	For	Voted - For
19	Approve Renewal of the Services Procurement
	Framework Agreement		Shareholder	For	Voted - For
20	Approve 2022 A Share Option Incentive Scheme
	(Draft) of Haier Smart Home Co., Ltd. and Its
	Summary		Shareholder	For	Voted - For
21	Approve Appraisal Management Measures of the 2022 A
	Share Option Incentive Scheme of Haier Smart Home
	Co., Ltd.		Shareholder	For	Voted - For
22	Authorize Board to Deal with All Matters in
	Relation to the 2022 A Share Option Incentive
	Scheme of the Company		Shareholder	For	Voted - For
23	Amend Articles of Association		Management	For	Voted - Against
24	Amend Rules and Procedures Regarding General
	Meetings of Shareholders		Management	For	Voted - For

24

	Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
25	Amend Rules and Procedures Regarding Meetings of
	Board of Directors		Management	For	Voted - For
26	Amend Rules and Procedures Regarding Meetings of
	Board of Supervisors		Management	For	Voted - For
27	Approve Amendments to the Investment Management
	System		Management	For	Voted - For
28	Approve Amendments to Regulations on the Management
	of Fund Raising		Management	For	Voted - For
29	Approve Amendments to Fair Decision-Making System
	for Related Party Transactions		Management	For	Voted - For
30	Approve Amendments to Independent Directors System		Management	For	Voted - Against
31	Approve Amendments to Management System of External
	Guarantee		Management	For	Voted - For
32	Approve Amendments to Management System of Foreign
	Exchange Derivative Trading Business		Management	For	Voted - For
33	Approve Amendments to Management System of
	Entrusted Wealth Management		Management	For	Voted - For
	ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE
	VOTING		Management	For	Non-Voting
34.1	Elect Li Huagang as Director		Shareholder	For	Voted - For
34.2	Elect Shao Xinzhi as Director		Shareholder	For	Voted - For
34.3	Elect Gong Wei as Director		Shareholder	For	Voted - For
34.4	Elect Yu Hon To, David as Director		Shareholder	For	Voted - Against
34.5	Elect Eva Li Kam Fun as Director		Shareholder	For	Voted - For
	ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING			Management	For	Non-Voting
35.1	Elect Chien Da-Chun as Director		Shareholder	For	Voted - For
35.2	Elect Wong Hak Kun as Director		Shareholder	For	Voted - For
35.3	Elect Li Shipeng as Director		Shareholder	For	Voted - For
35.4	Elect Wu Qi as Director		Shareholder	For	Voted - For
	ELECT SUPERVISORS VIA CUMULATIVE VOTING		Management	For	Non-Voting
36.1	Elect Liu Dalin as Supervisor		Shareholder	For	Voted - For
36.2	Elect Ma Yingjie as Supervisor		Shareholder	For	Voted - For
Meeting Date: 28-Jun-22		Meeting Type: Special
	CLASS MEETING FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Grant of General Mandate to the Board to
	Repurchase H Shares		Management	For	Voted - For
2	Approve Grant of General Mandate to the Board to
	Repurchase D Shares		Management	For	Voted - For
3	Approve 2022 A Share Option Incentive Scheme
	(Draft) of Haier Smart Home Co., Ltd. and Its
	Summary		Shareholder	For	Voted - For
4	Approve Appraisal Management Measures of the 2022 A
	Share Option Incentive Scheme of Haier Smart Home
	Co., Ltd.		Shareholder	For	Voted - For
5	Authorize Board to Deal with All Matters in
	Relation to the 2022 A Share Option Incentive
	Scheme of the Company		Shareholder	For	Voted - For

25

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
HANA FINANCIAL GROUP, INC.
Security ID: Y29975102		Ticker: 086790
Meeting Date: 25-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2	Amend Articles of Incorporation		Management	For	Voted - For
3.1	Elect Baek Tae-seung as Outside Director		Management	For	Voted - For
3.2	Elect Kim Hong-jin as Outside Director		Management	For	Voted - For
3.3	Elect Heo Yoon as Outside Director		Management	For	Voted - Against
3.4	Elect Lee Jeong-won as Outside Director		Management	For	Voted - Against
3.5	Elect Lee Gang-won as Outside Director		Management	For	Voted - For
3.6	Elect Hahm Young-ju as Inside Director		Management	For	Voted - Against
4	Elect Yang Dong-hun as Outside Director to Serve as
	an Audit Committee Member		Management	For	Voted - Against
5.1	Elect Baek Tae-seung as a Member of Audit Committee		Management	For	Voted - For
5.2	Elect Lee Jeong-won as a Member of Audit Committee		Management	For	Voted - Against
5.3	Elect Park Dong-moon as a Member of Audit Committee		Management	For	Voted - For
6.1	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
6.2	Approve Special Reward Payment		Management	For	Voted - For
HANKOOK TIRE & TECHNOLOGY CO., LTD.
Security ID: Y3R57J108		Ticker: 161390
Meeting Date: 30-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - Against
HDFC BANK LIMITED
Security ID: Y3119P190		Ticker: 500180
Meeting Date: 17-Jul-21		Meeting Type: Annual
1	Accept Standalone Financial Statements and
	Statutory Reports		Management	For	Voted - For
2	Accept Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Approve Dividend		Management	For	Voted - For
4	Reelect Srikanth Nadhamuni as Director		Management	For	Voted - For
5	Authorize Board to Fix Remuneration of MSKA &
	Associates, Chartered Accountants as Statutory
	Auditors		Management	For	Voted - For
6	Approve Revision in the Term of Office of MSKA &
	Associates, Chartered Accountants as Statutory

26

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
	Auditors and Authorize Board to Fix Their
	Remuneration		Management	For	Voted - For
7	Approve M. M. Nissim & Co. LLP, Chartered
	Accountants as Joint Statutory Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
8	Approve Revised Remuneration of Non-Executive
	Directors Except for Part Time Non-Executive
	Chairperson		Management	For	Voted - For
9	Elect Umesh Chandra Sarangi as Director		Management	For	Voted - For
10	Approve Appointment and Remuneration of Atanu
	Chakraborty as Part time Non-Executive Chairman and
	Independent Director		Management	For	Voted - For
11	Elect Sunita Maheshwari as Director		Management	For	Voted - For
12	Approve Related Party Transactions with Housing
	Development Finance Corporation Limited		Management	For	Voted - For
13	Approve Related Party Transactions with HDB
	Financial Services Limited		Management	For	Voted - For
14	Authorize Issuance of Unsecured Perpetual Debt
	Instruments, Tier II Capital Bonds and Long Term
	Bonds on Private Placement Basis		Management	For	Voted - For
15	Amend HDFC Bank Limited Employees' Stock Option
	Scheme, 2007 (ESOS-Plan D-2007)		Management	For	Voted - For
16	Amend HDFC Bank Limited Employees' Stock Option
	Scheme, 2010 (ESOS-Plan E-2010)		Management	For	Voted - For
17	Amend HDFC Bank Limited Employees' Stock Option
	Scheme, 2013 (ESOS-Plan F-2013)		Management	For	Voted - For
18	Amend HDFC Bank Limited Employees' Stock Option
	Scheme, 2016 (ESOS-Plan G-2016)		Management	For	Voted - For
Meeting Date: 27-Mar-22		Meeting Type: Special
	Postal Ballot		Management	For	Non-Voting
1	Elect Lily Vadera as Director		Management	For	Voted - For
2	Approve Related Party Transactions with Housing
	Development Finance Corporation Limited		Management	For	Voted - For
3	Approve Related Party Transactions with HDB
	Financial Services Limited		Management	For	Voted - For
4	Approve Related Party Transactions with HDFC
	Securities Limited		Management	For	Voted - For
5	Approve Related Party Transactions with HDFC Life
	Insurance Company Limited		Management	For	Voted - For
6	Approve Related Party Transactions with HDFC ERGO
	General Insurance Company Limited		Management	For	Voted - For
Meeting Date: 14-May-22		Meeting Type: Special
	Postal Ballot		Management	For	Non-Voting
1	Approve Employee Stock Incentive Plan 2022		Management	For	Voted - Against

27

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
HEG LIMITED
Security ID: Y3119F119		Ticker: 509631
Meeting Date: 28-Jul-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Reelect Riju Jhunjhunwala as Director		Management	For	Voted - Against
4	Reelect Shekhar Agarwal as Director		Management	For	Voted - Against
5	Approve Payment of Remuneration to Ravi
	Jhunjhunwala as Chairman, Managing Director & CEO		Management	For	Voted - Against
6	Approve Payment of Remuneration to Manish Gulati as
	Whole Time Director Designated as Executive Director		Management	For	Voted - Against
7	Approve Remuneration of Cost Auditors		Management	For	Voted - For
HERO MOTOCORP LIMITED
Security ID: Y3194B108		Ticker: 500182
Meeting Date: 04-Aug-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Confirm Interim Dividend and Declare Final Dividend		Management	For	Voted - For
3	Reelect Pradeep Dinodia as Director		Management	For	Voted - Against
4	Approve Remuneration of Cost Auditors		Management	For	Voted - For
5	Elect Birender Singh Dhanoa as Director		Management	For	Voted - For
6	Approve Reappointment of Pawan Munjal as Whole-time
	Director Designated as Chairman & CEO		Management	For	Voted - For
7	Approve Remuneration of Pawan Munjal as Whole-time
	Director		Management	For	Voted - Against
8	Approve Extension of Benefits Employee Incentive
	Scheme - 2014 to the Eligible Employees of the
	Subsidiary Companies		Management	For	Voted - Against
Meeting Date: 29-Dec-21		Meeting Type: Special
	Postal Ballot		Management	For	Did Not Vote
1	Elect Camille Miki Tang as Director		Management	For	Did Not Vote
2	Elect Rajnish Kumar as Director		Management	For	Did Not Vote
3	Elect Vasudha Dinodia as Director		Management	For	Did Not Vote
HON HAI PRECISION INDUSTRY CO., LTD.
Security ID: Y36861105		Ticker: 2317
Meeting Date: 31-May-22		Meeting Type: Annual
1	Approve Business Operations Report and Financial
	Statements		Management	For	Voted - For
2	Approve Plan on Profit Distribution		Management	For	Voted - For
3	Approve Amendments to Articles of Association		Management	For	Voted - For

28

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
4	Approve Amendments to Rules and Procedures
	Regarding Shareholder's General Meeting		Management	For	Voted - For
5	Approve Amendments to Procedures Governing the
	Acquisition or Disposal of Assets		Management	For	Voted - For
6	Approve Amendments to Lending Procedures and Caps		Management	For	Voted - For
7	Approve Initial Public Listing of the Company's
	Hong Kong listed Subsidiary FIH Mobile Limited
	(Cayman) Through Issuance of Rupee Common Stocks on
	the Indian Stock Exchange, Through Subsidiary
	Bharat FIH Limited		Management	For	Voted - For
	ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT
	DIRECTORS VIA CUMULATIVE VOTING		Management	For	Non-Voting
8.1	Elec Liu, Yang Wei, with SHAREHOLDER NO.00085378 as
	Non-independent Director		Management	For	Voted - For
8.2	Elect Gou, Tai Ming (Terry Gou), with SHAREHOLDER
	NO.00000001, as Non-independent Director		Management	For	Voted - For
8.3	Elect Wang, Cheng Yang, a Representative of Hon Jin
	International Investment Co., Ltd., with
	SHAREHOLDER NO.00057132, as Non-independent Director			Management	For	Voted - For
8.4	Elect Dr. Christina Yee Ru Liu, a Representative of
	Hon Jin International Investment Co., Ltd. with
	,SHAREHOLDER NO.00057132, as Non-independent
	Director		Management	For	Voted - For
8.5	Elect James Wang, with SHAREHOLDER NO.F120591XXX as
	Independent Director		Management	For	Voted - For
8.6	Elect Kuo, Ta Wei, with SHAREHOLDER NO.F121315XXX
	as Independent Director		Management	For	Voted - For
8.7	Elect Huang, Qing Yuan, with SHAREHOLDER
	NO.R101807XXX as Independent Director		Management	For	Voted - For
8.8	Elect Liu, Len Yu, with SHAREHOLDER NO.N120552XXX
	as Independent Director		Management	For	Voted - For
8.9	Elect Chen, Yue Min, with SHAREHOLDER NO.A201846XXX
	as Independent Director		Management	For	Voted - For
9	Approve Release of Restrictions of Competitive
	Activities of Newly Appointed Directors and
	Representatives		Management	For	Voted - For
HONG KONG EXCHANGES AND CLEARING LIMITED
Security ID: Y3506N139		Ticker: 388
Meeting Date: 27-Apr-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Elect Apurv Bagri as Director		Management	For	Voted - For
3	Approve PricewaterhouseCoopers as Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
4	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
5	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
6a	Approve Remuneration Payable to the Chairman and
	Each of the Other Members of the Listing Operation
	Governance Committee of HKEX		Management	For	Voted - For

29

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
6b	Approve Remuneration Payable to the Chairman and
	Each of the Other Non-Executive Directors of HKEX		Management	For	Voted - For
6c	Approve Remuneration Payable to the Chairman and
	Each of the Other Members in Respect of Each
	Committee		Management	For	Voted - For
HONGFA TECHNOLOGY CO., LTD.
Security ID: Y9716T105		Ticker: 600885
Meeting Date: 18-May-22		Meeting Type: Annual
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For
3	Approve Financial Statements and Financial Budget
	Report		Management	For	Voted - For
4	Approve Annual Report and Summary		Management	For	Voted - For
5	Approve Report of the Independent Directors		Management	For	Voted - For
6	Approve Profit Distribution and Capitalization of
	Capital Reserves		Management	For	Voted - For
7	Approve Appointment of Financial Auditor and
	Internal Control Auditor as well as Payment of
	Remuneration		Management	For	Voted - For
8	Approve Application of Bank Credit Lines		Management	For	Voted - For
9	Approve Provision of Guarantee		Management	For	Voted - Against
10	Approve Financial Assistance Provision		Management	For	Voted - Against
11	Approve Amendments to Articles of Association		Management	For	Voted - Against
12	Amend Some Clauses of the Company's Related Systems		Management	For	Voted - Against
INFOSYS LIMITED
Security ID: Y4082C133		Ticker: 500209
Meeting Date: 25-Jun-22		Meeting Type: Annual
	Meeting for ADR Holders		Management	For	Non-Voting
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Reelect Nandan M. Nilekani as Director		Management	For	Voted - For
4	Approve Deloitte Haskins & Sells LLP, Chartered
	Accountants as Auditors and Authorize Board to Fix
	Their Remuneration		Management	For	Voted - For
5	Reelect D. Sundaram as Director		Management	For	Voted - For
6	Approve Reappointment and Remuneration of Salil S.
	Parekh as Chief Executive Officer and Managing
	Director		Management	For	Voted - For

30

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
INNER MONGOLIA YILI INDUSTRIAL GROUP CO., LTD.
Security ID: Y408DG116 Ticker: 600887
Meeting Date: 18-May-22		Meeting Type: Annual
1	Approve Annual Report and Summary		Management	For	Voted - For
2	Approve Report of the Board of Directors		Management	For	Voted - For
3	Approve Report of the Board of Supervisors		Management	For	Voted - For
4	Approve Management Policy and Investment Plan		Management	For	Voted - For
5	Approve Financial Statements and Financial Budget
	Plan		Management	For	Voted - For
6	Approve Profit Distribution		Management	For	Voted - For
7	Approve Report of the Independent Directors		Management	For	Voted - For
8	Elect Li Feng as Non-independent Director		Management	For	Voted - For
9	Approve Provision of Guarantees to Upstream and
	Downstream Partners of the Industry Chain		Management	For	Voted - For
10	Approve Issuance of Debt Financing Instruments		Management	For	Voted - For
11	Approve Provision of Guarantees to Wholly-owned
	Subsidiaries		Management	For	Voted - For
12	Approve Provision of Guarantees to Hohhot Yixing
	Dairy Investment Management Co., Ltd.		Management	For	Voted - Against
13	Approve Authorization of Controlled Subsidiary to
	Provide Guarantee		Management	For	Voted - Against
14	Approve Repurchase and Cancellation of Performance
	Shares		Management	For	Voted - For
15	Approve Amendments to Articles of Association		Management	For	Voted - Against
16	Amend Independent Director System		Management	For	Voted - Against
17	Amend Related Party Transaction Management System		Management	For	Voted - Against
18	Approve Appointment of Auditor		Management	For	Voted - For
ITC LIMITED
Security ID: Y4211T171		Ticker: 500875
Meeting Date: 11-Aug-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Confirm Interim Dividend and Declare Final Dividend		Management	For	Voted - For
3	Reelect Hemant Bhargava as Director		Management	For	Voted - Against
4	Reelect Sumant Bhargavan as Director		Management	For	Voted - For
5	Approve S R B C & CO LLP, Chartered Accountants as
	Auditors and Authorize Board to Fix Their
	Remuneration		Management	For	Voted - Against
6	Elect Shyamal Mukherjee as Director		Management	For	Voted - For
7	Approve Reappointment and Remuneration of Sumant
	Bhargavan as Wholetime Director		Management	For	Voted - Against
8	Approve Remuneration of ABK & Associates, Cost
	Accountants as Cost Auditors		Management	For	Voted - For
9	Approve Remuneration of S. Mahadevan & Co., Cost
	Accountants as Cost Auditors		Management	For	Voted - For

31

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
Meeting Date: 15-Dec-21		Meeting Type: Special
	Postal Ballot		Management	For	Non-Voting
1	Elect Mukesh Gupta as Director		Management	For	Voted - Against
2	Elect Sunil Panray as Director		Management	For	Voted - Against
3	Elect Navneet Doda as Director		Management	For	Voted - Against
4	Elect Hemant Bhargava as Director		Management	For	Voted - For
KIA CORP.
Security ID: Y47601102		Ticker: 000270
Meeting Date: 29-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1	Elect Song Ho-seong as Inside Director		Management	For	Voted - For
2.2	Elect Jeong Ui-seon as Inside Director		Management	For	Voted - For
2.3	Elect Shin Hyeon-jeong as Outside Director		Management	For	Voted - For
3	Elect Kim Dong-won as a Member of Audit Committee		Management	For	Voted - For
4	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
KOREA ZINC CO., LTD.
Security ID: Y4960Y108		Ticker: 010130
Meeting Date: 23-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1	Elect Choi Yoon-beom as Inside Director		Management	For	Voted - For
2.2	Elect Jang Hyeong-jin as Non-Independent
	Non-Executive Director		Management	For	Voted - For
2.3	Elect Seong Yong-rak as Outside Director		Management	For	Voted - For
2.4	Elect Lee Min-ho as Outside Director		Management	For	Voted - For
3	Elect Kim Doh-hyeon as Outside Director to Serve as
	an Audit Committee Member		Management	For	Voted - For
4	Elect Seong Yong-rak as a Member of Audit Committee		Management	For	Voted - For
5	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
LEEJAM SPORTS CO. JSC
Security ID: M4319P108 Ticker: 1830
Meeting Date: 19-Apr-22		Meeting Type: Annual
	Ordinary Business		Management	For	Non-Voting
1	Approve Board Report on Company Operations for FY
	2021		Management	For	Voted - For
2	Approve Auditors' Report on Company Financial
	Statements for FY 2021		Management	For	Voted - For

32

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3	Accept Financial Statements and Statutory Reports
	for FY 2021		Management	For	Voted - For
4	Approve Discharge of Directors for FY 2021		Management	For	Voted - For
5	Approve Remuneration of Directors of SAR 2,131,000
	for FY 2021		Management	For	Voted - For
6	Ratify Auditors and Fix Their Remuneration for Q2,
	Q3, Q4 and Annual Statement of FY 2022 and Q1 of FY
	2023		Management	For	Voted - Against
7	Approve Related Party Transactions With Hamad Al
	Saqri Re: Lease Contract of Company's Head Office		Management	For	Voted - For
8	Approve Related Party Transactions With Hamad
	Al-Sagri Group Re: Corporate Sales Contract		Management	For	Voted - For
9	Ratify Distributed Interim Dividends of SAR 2.1 per
	Share for the First Half, Q3 and Q4 of FY 2021		Management	For	Voted - For
10	Approve Interim Dividends Semi Annually or
	Quarterly for FY 2022		Management	For	Voted - For
11	Approve Authorization of the Board Regarding Future
	Related Party Transactions According to Article 71
	of the Companies Law		Management	For	Voted - For
LG CHEM LTD.
Security ID: Y52758102		Ticker: 051910
Meeting Date: 23-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1	Elect Shin Hak-Cheol as Inside Director		Management	For	Voted - For
2.2	Elect Kwon Bong-seok as Non-Independent
	Non-Executive Director		Management	For	Voted - For
2.3	Elect Lee Hyeon-ju as Outside Director		Management	For	Voted - For
2.4	Elect Cho Hwa-soon as Outside Director		Management	For	Voted - For
3.1	Elect Lee Hyeon-ju as a Member of Audit Committee		Management	For	Voted - For
3.2	Elect Cho Hwa-soon as a Member of Audit Committee		Management	For	Voted - For
4	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
LG CORP.
Security ID: Y52755108		Ticker: 003550
Meeting Date: 07-Jan-22		Meeting Type: Special
1	Elect Kwon Bong-seok as Inside Director		Management	For	Voted - For
Meeting Date: 29-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1	Elect Ha Beom-jong as Inside Director		Management	For	Voted - For
2.2	Elect Han Jong-su as Outside Director		Management	For	Voted - For
3	Elect Han Jong-su as a Member of Audit Committee		Management	For	Voted - For

33

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
4	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
LIC HOUSING FINANCE LIMITED
Security ID: Y5278Z133		Ticker: 500253
Meeting Date: 19-Jul-21		Meeting Type: Extraordinary Shareholders
1	Approve Issuance of Equity Shares to Life Insurance
	Corporation of India on Preferential Basis		Management	For	Voted - For
Meeting Date: 04-Sep-21		Meeting Type: Extraordinary Shareholders
	This is a Duplicate Meeting for Ballots Received
	via Broadridge Distribution System		Management	For	Non-Voting
	PROPOSED E-VOTING PROCESS		Management	For	Non-Voting
1	Approve Issuance of Equity Shares at an Issue Price
	of Rs. 514.43 Per Equity Share to Life Insurance
	Corporation of India on Preferential Basis		Management	For	Voted - For
Meeting Date: 27-Sep-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Reelect Pottimutyala Koteswara Rao as Director		Management	For	Voted - For
4	Approve M P Chitale & Co., Chartered Accountants
	and Gokhale & Sathe as Joint Statutory Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
5	Approve Issuance of Non-Convertible Debentures on
	Private Placement Basis		Management	For	Voted - For
6	Elect Yerur Viswanatha Gowd as Director and Approve
	Appointment and Remuneration of Yerur Viswanatha
	Gowd as Managing Director & Chief Executive Officer		Management	For	Voted - For
7	Elect Akshay Kumar Rout as Director		Management	For	Voted - For
8	Elect J Jayanthi as Director		Management	For	Voted - For
9	Elect Raj Kumar as Director		Management	For	Voted - For
10	Amend Articles of Association		Management	For	Voted - For
11	Amend Main Object Clause of Memorandum of
	Association and Adopt New Set Memorandum of
	Association		Management	For	Voted - For
MEDIATEK, INC.
Security ID: Y5945U103		Ticker: 2454
Meeting Date: 31-May-22		Meeting Type: Annual
1	Approve Business Report and Financial Statements		Management	For	Voted - For
2	Approve Profit Distribution		Management	For	Voted - For
3	Approve Cash Distribution from Capital Reserve		Management	For	Voted - For
4	Approve Amendments to Articles of Association		Management	For	Voted - Against

34

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
5	Amend Procedures Governing the Acquisition or
	Disposal of Assets		Management	For	Voted - For
6	Amend Procedures for Endorsement and Guarantees		Management	For	Voted - For
7	Amend Procedures for Lending Funds to Other Parties		Management	For	Voted - Against
MMC NORILSK NICKEL PJSC
Security ID: X5424N118		Ticker: GMKN
Meeting Date: 19-Aug-21		Meeting Type: Special
	Meeting for ADR Holders		Management	For	Non-Voting
1	Approve Reduction in Share Capital via Cancellation
	of Repurchased Shares		Management	For	Voted - For
2	Amend Charter		Management	For	Voted - For
MONDI PLC
Security ID: G6258S107 Ticker: MNDI
Meeting Date: 05-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Remuneration Report		Management	For	Voted - For
3	Approve Final Dividend		Management	For	Voted - For
4	Re-elect Svein Richard Brandtzaeg as Director		Management	For	Voted - For
5	Re-elect Sue Clark as Director		Management	For	Voted - For
6	Re-elect Andrew King as Director		Management	For	Voted - For
7	Re-elect Mike Powell as Director		Management	For	Voted - For
8	Re-elect Dominique Reiniche as Director		Management	For	Voted - For
9	Re-elect Dame Angela Strank as Director		Management	For	Voted - For
10	Re-elect Philip Yea as Director		Management	For	Voted - For
11	Re-elect Stephen Young as Director		Management	For	Voted - For
12	Reappoint PricewaterhouseCoopers LLP as Auditors		Management	For	Voted - For
13	Authorise the Audit Committee to Fix Remuneration
	of Auditors		Management	For	Voted - For
14	Authorise Issue of Equity		Management	For	Voted - For
15	Authorise Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
16	Authorise Market Purchase of Ordinary Shares		Management	For	Voted - For
17	Authorise the Company to Call General Meeting with
	Two Weeks' Notice		Management	For	Voted - For
MOSCOW EXCHANGE MICEX-RTS PJSC
Security ID: X6983N101		Ticker: MOEX
Meeting Date: 06-Jun-22		Meeting Type: Annual
1	Approve Annual Report		Management	For	Voted - For
2	Approve Allocation of Income and Omission of
	Dividends		Management	For	Voted - For
	Elect 12 Directors by Cumulative Voting		Management	For	Non-Voting

35

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
3.1	Elect Valerii Goregliad as Director		Management	None	Voted - Against
3.2	Elect Sergei Lykov as Director		Management	None	Voted - For
3.3	Elect Aleksandr Magomedov as Director		Management	None	Voted - Against
3.4	Elect Oleg Malyshev as Director		Management	None	Voted - For
3.5	Elect Mikhail Matovnikov as Director		Management	None	Voted - For
3.6	Elect Vasilii Medvedev as Director		Management	None	Voted - Against
3.7	Elect Aleksandr Morozov as Director		Management	None	Voted - Against
3.8	Elect Marina Pochinok as Director		Management	None	Voted - For
3.9	Elect Stanislav Prokofev as Director		Management	None	Voted - For
3.10	Elect Oskar Hartmann as Director		Management	None	Voted - Against
3.11	Elect Vladimir Shapovalov as Director		Management	None	Voted - Against
3.12	Elect Sergei Shvetsov as Director		Management	None	Voted - Against
4	Ratify Auditor		Management	For	Voted - For
5	Approve New Edition of Charter		Management	For	Voted - For
6	Approve New Edition of Regulations on Board of
	Directors		Management	For	Voted - For
7	Approve New Edition of Regulations on Remuneration
	of Directors		Management	For	Voted - For
8	Approve New Edition of Regulations on Management		Management	For	Voted - For
9	Approve Remuneration of Directors		Management	For	Voted - For
10	Fix Number of Directors at Nine		Management	For	Voted - For
MUTHOOT FINANCE LIMITED
Security ID: Y6190C103		Ticker: 533398
Meeting Date: 18-Sep-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Reelect George Jacob Muthoot as Director		Management	For	Voted - Against
3	Amend Articles of Association - Board Related		Management	For	Voted - For
4	Elect Usha Sunny as Director		Management	For	Voted - For
5	Elect Abraham Chacko as Director		Management	For	Voted - For
6	Elect George Muthoot George as Director		Management	For	Voted - For
7	Elect George Alexander as Director		Management	For	Voted - For
8	Elect George Muthoot Jacob as Director		Management	For	Voted - For
9	Approve Appointment and Remuneration of George
	Muthoot George as Whole Time Director		Management	For	Voted - For
10	Approve Appointment and Remuneration of George
	Alexander as Whole Time Director		Management	For	Voted - For
11	Approve Appointment and Remuneration of George
	Muthoot Jacob as Whole Time Director		Management	For	Voted - For
12	Approve Revision in Terms of Remuneration of
	Alexander George as Whole Time Director		Management	For	Voted - Against
13	Amend Memorandum of Association		Management	For	Voted - For
Meeting Date: 27-Dec-21		Meeting Type: Special
	Postal Ballot		Management	For	Non-Voting
1	Approve Elias George & Co., Chartered Accountants
	as Joint Statutory Auditors and Authorize Board to
	Fix Their Remuneration		Management	For	Voted - For

36

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
2	Approve Babu A. Kallivayalil & Co., Chartered
	Accountants as Joint Statutory Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
MY E.G. SERVICES BERHAD
Security ID: Y6147P116		Ticker: 0138
Meeting Date: 23-Jun-22		Meeting Type: Annual
1	Approve Final Dividend		Management	For	Voted - For
2	Approve Directors' Fees and Benefits		Management	For	Voted - For
3	Elect Wong Thean Soon as Director		Management	For	Voted - For
4	Elect Wong Kok Chau as Director		Management	For	Voted - For
5	Elect Mohd Jeffrey Bin Joakim as Director		Management	For	Voted - For
6	Elect Mohaini Binti Mohd Yusof as Director		Management	For	Voted - For
7	Approve Crowe Malaysia PLT as Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
8	Authorize Share Repurchase Program		Management	For	Voted - For
9	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
10	Approve Issuance of Shares Pursuant to the Dividend
	Reinvestment Plan		Management	For	Voted - For
NASPERS LTD.
Security ID: S53435103		Ticker: NPN
Meeting Date: 25-Aug-21		Meeting Type: Annual
	Ordinary Resolutions		Management	For	Non-Voting
1	Accept Financial Statements and Statutory Reports
	for Year Ended 31 March 2021		Management	For	Voted - For
2	Approve Dividends for N Ordinary and A Ordinary
	Shares		Management	For	Voted - For
3	Reappoint PricewaterhouseCoopers Inc as Auditors of
	the Company with V Myburgh as the Individual
	Registered Auditor		Management	For	Voted - For
4	Elect Angelien Kemna as Director		Management	For	Voted - For
5.1	Re-elect Hendrik du Toit as Director		Management	For	Voted - For
5.2	Re-elect Craig Enenstein as Director		Management	For	Voted - For
5.3	Re-elect Nolo Letele as Director		Management	For	Voted - For
5.4	Re-elect Roberto Oliveira de Lima as Director		Management	For	Voted - For
5.5	Re-elect Ben van der Ross as Director		Management	For	Voted - For
6.1	Re-elect Manisha Girotra as Member of the Audit
	Committee		Management	For	Voted - For
6.2	Elect Angelien Kemna as Member of the Audit
	Committee		Management	For	Voted - For
6.3	Re-elect Steve Pacak as Member of the Audit
	Committee		Management	For	Voted - Abstain
7	Approve Remuneration Policy		Management	For	Voted - Against
8	Approve Implementation of the Remuneration Policy		Management	For	Voted - Against

37

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
9	Place Authorised but Unissued Shares under Control
	of Directors		Management	For	Voted - Against
10	Authorise Board to Issue Shares for Cash		Management	For	Voted - Against
11	Authorise Ratification of Approved Resolutions		Management	For	Voted - For
	Special Resolutions		Management	For	Non-Voting
1.1	Approve Fees of the Board Chairman		Management	For	Voted - For
1.2	Approve Fees of the Board Member		Management	For	Voted - For
1.3	Approve Fees of the Audit Committee Chairman		Management	For	Voted - For
1.4	Approve Fees of the Audit Committee Member		Management	For	Voted - For
1.5	Approve Fees of the Risk Committee Chairman		Management	For	Voted - For
1.6	Approve Fees of the Risk Committee Member		Management	For	Voted - For
1.7	Approve Fees of the Human Resources and
	Remuneration Committee Chairman		Management	For	Voted - For
1.8	Approve Fees of the Human Resources and
	Remuneration Committee Member		Management	For	Voted - For
1.9	Approve Fees of the Nomination Committee Chairman		Management	For	Voted - For
1.10	Approve Fees of the Nomination Committee Member		Management	For	Voted - For
1.11	Approve Fees of the Social, Ethics and
	Sustainability Committee Chairman		Management	For	Voted - For
1.12	Approve Fees of the Social, Ethics and
	Sustainability Committee Member		Management	For	Voted - For
1.13	Approve Fees of the Trustees of Group Share
	Schemes/Other Personnel Funds		Management	For	Voted - For
2	Approve Financial Assistance in Terms of Section 44
	of the Companies Act		Management	For	Voted - For
3	Approve Financial Assistance in Terms of Section 45
	of the Companies Act		Management	For	Voted - For
4	Authorise Repurchase of N Ordinary Shares		Management	For	Voted - For
5	Authorise Specific Repurchase of N Ordinary Shares
	from Holders of N Ordinary Shares		Management	For	Voted - For
6	Authorise Repurchase of A Ordinary Shares		Management	For	Voted - Against
NETCARE LTD.
Security ID: S5507D108		Ticker: NTC
Meeting Date: 04-Feb-22		Meeting Type: Annual
1.1	Re-elect Kgomotso Moroka as Director		Management	For	Voted - For
1.2	Re-elect Martin Kuscus as Director		Management	For	Voted - For
1.3	Elect Thabi Leoka as Director		Management	For	Voted - For
1.4	Elect Rozett Phillips as Director		Management	For	Voted - For
2	Reappoint Deloitte & Touche as Auditors		Management	For	Voted - For
3.1	Re-elect Mark Bower as Chairperson of the Audit
	Committee		Management	For	Voted - For
3.2	Re-elect Bukelwa Bulo as Member of the Audit
	Committee		Management	For	Voted - For
3.3	Re-elect David Kneale as Member of the Audit
	Committee		Management	For	Voted - For
3.4	Elect Thabi Leoka as Member of the Audit Committee		Management	For	Voted - For
4	Authorise Ratification of Approved Resolutions		Management	For	Voted - For
5	Approve Remuneration Policy		Management	For	Voted - For

38

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
6	Approve Implementation Report		Management	For	Voted - For
7	Authorise Repurchase of Issued Share Capital		Management	For	Voted - For
8	Approve Non-executive Directors' Remuneration		Management	For	Voted - For
9	Approve Financial Assistance to Related and
	Inter-related Companies		Management	For	Voted - For
NETEASE, INC.
Security ID: G6427A102 Ticker: 9999
Meeting Date: 16-Jun-22		Meeting Type: Annual
1a	Elect William Lei Ding as Director		Management	For	Voted - For
1b	Elect Alice Yu-Fen Cheng as Director		Management	For	Voted - For
1c	Elect Joseph Tze Kay Tong as Director		Management	For	Voted - For
1d	Elect Lun Feng as Director		Management	For	Voted - For
1e	Elect Michael Man Kit Leung as Director		Management	For	Voted - Against
2	Approve Appointment of PricewaterhouseCoopers Zhong
	Tian LLP and PricewaterhouseCoopers as Auditors		Management	For	Voted - For
OCI NV
Security ID: N6667A111		Ticker: OCI
Meeting Date: 28-Mar-22		Meeting Type: Extraordinary Shareholders
	Extraordinary Meeting Agenda		Management	For	Non-Voting
1	Open Meeting		Management	For	Non-Voting
2A	Amend Articles Re: H2 2021 Distribution		Management	For	Voted - For
2B	Amend Articles Re: Potential Second Distribution
	for the Period H1 2022		Management	For	Voted - For
3	Close Meeting		Management	For	Non-Voting
Meeting Date: 24-May-22		Meeting Type: Annual
	Annual Meeting Agenda		Management	For	Non-Voting
1	Open Meeting		Management	For	Non-Voting
2	Receive Board Report (Non-Voting)		Management	For	Non-Voting
3	Approve Remuneration Report		Management	For	Voted - For
4	Adopt Financial Statements and Statutory Reports		Management	For	Voted - For
5	Receive Explanation on Amendment of Company's
	Reserves and Dividend Policy		Management	For	Non-Voting
6	Approve Grant of One-Off Share Award to Certain
	Executive Directors		Management	For	Voted - Against
7	Amend Remuneration Policy		Management	For	Voted - Against
8	Approve Discharge of Executive Directors		Management	For	Voted - For
9	Approve Discharge of Non-Executive Directors		Management	For	Voted - For
10	Grant Board Authority to Issue Shares		Management	For	Voted - Against
11	Authorize Board to Exclude Preemptive Rights from
	Share Issuances		Management	For	Voted - Against
12	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - For

39

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
13	Ratify KPMG Accountants N.V. as Auditors for the
	Financial Year 2022		Management	For	Voted - For
14	Ratify PricewaterhouseCoopers Accountants N.V. as
	Auditors for the Financial Year 2023		Management	For	Voted - For
15	Close Meeting		Management	For	Non-Voting
OIL CO. LUKOIL PJSC
Security ID: X6983S100		Ticker: LKOH
Meeting Date: 02-Dec-21		Meeting Type: Special
	Meeting for ADR/GDR Holders		Management	For	Non-Voting
1	Approve Interim Dividends of RUB 340 per Share for
	First Nine Months of Fiscal 2021		Management	For	Voted - For
2	Approve Remuneration of Directors		Management	For	Voted - For
PACIFIC BASIN SHIPPING LIMITED
Security ID: G68437139		Ticker: 2343
Meeting Date: 19-Apr-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3a	Elect Martin Fruergaard as Director		Management	For	Voted - For
3b	Elect Peter Schulz as Director		Management	For	Voted - For
3c	Elect Robert Charles Nicholson as Director		Management	For	Voted - Against
3d	Elect Kirsi Kyllikki Tikka as Director		Management	For	Voted - For
3e	Elect Alexander Howarth Yat Kay Cheung as Director		Management	For	Voted - Against
3f	Authorize Board to Fix Remuneration of Directors		Management	For	Voted - For
4	Approve PricewaterhouseCoopers as Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
5	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
6	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
PING AN BANK CO., LTD.
Security ID: Y6896T103		Ticker: 000001
Meeting Date: 05-Aug-21		Meeting Type: Special
1	Elect Zhang Xiaolu as Non-Independent Director		Management	For	Voted - For
Meeting Date: 28-Jun-22		Meeting Type: Annual
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For
3	Approve Annual Report and Summary		Management	For	Voted - For
4	Approve Financial Statements and Financial Budget
	Report		Management	For	Voted - For
5	Approve Profit Distribution		Management	For	Voted - For

40

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
6	Approve Related Party Transaction and Related Party
	Transaction Management System Implementation Report		Management	For	Voted - For
7	Approve to Appoint Auditor		Management	For	Voted - For
8	Approve Capital Management Plan		Management	For	Voted - For
9	Approve General Mandate for Issuance of Financial
	Bonds and Tier 2 Capital Bonds		Management	For	Voted - For
10	Approve Amendments to Articles of Association		Management	For	Voted - For
PING AN INSURANCE (GROUP) CO. OF CHINA LTD.
Security ID: Y69790106		Ticker: 2318
Meeting Date: 29-Apr-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Supervisory Committee		Management	For	Voted - For
3	Approve Annual Report and Its Summary		Management	For	Voted - For
4	Approve Financial Statements and Statutory Reports		Management	For	Voted - For
5	Approve Profit Distribution Plan and Proposed
	Declaration and Distribution of Final Dividends		Management	For	Voted - For
6	Approve Ernst & Young Hua Ming LLP as PRC Auditor
	and Ernst & Young as International Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
	ELECT DIRECTORS		Management	For	Non-Voting
7.1	Elect He Jianfeng as Director		Management	For	Voted - For
7.2	Elect Cai Xun as Director		Management	For	Voted - For
	ELECT SUPERVISORS		Management	For	Non-Voting
8.1	Elect Zhu Xinrong as Supervisor		Management	For	Voted - For
8.2	Elect Liew Fui Kiang as Supervisor		Management	For	Voted - For
8.3	Elect Hung Ka Hai Clement as Supervisor		Management	For	Voted - For
9	Approve Development Plan of the Company for Years
	2022 to 2024		Management	For	Voted - For
10	Approve Management Policy for Remuneration of
	Directors and Supervisors		Management	For	Voted - For
11	Approve Issuance of Debt Financing Instruments		Management	For	Voted - For
12	Amend Articles of Association		Management	For	Voted - For
PORTO SEGURO SA
Security ID: P7905C107		Ticker: PSSA3
Meeting Date: 20-Oct-21		Meeting Type: Extraordinary Shareholders
1	Authorize Capitalization of Reserves for Bonus Issue		Management	For	Voted - For
2	Amend Article 5 to Reflect Changes in Capital		Management	For	Voted - For
3	Approve Increase in Authorized Capital and Amend
	Article 5 Accordingly		Management	For	Voted - For
4	Amend Article 3 Re: Corporate Purpose		Management	For	Voted - For
5	Amend Article 18		Management	For	Voted - For
6	Amend Articles 16 and 28		Management	For	Voted - For
7	Consolidate Bylaws		Management	For	Voted - For

41

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
Meeting Date: 31-Mar-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports
	for Fiscal Year Ended Dec. 31, 2021		Management	For	Voted - For
2	Approve Allocation of Income and Dividends		Management	For	Voted - For
3	Ratify Interest-on-Capital-Stock Payments		Management	For	Voted - For
4	Approve Dividends and Interest-on-Capital-Stock
	Payment Date		Management	For	Voted - For
5	Fix Number of Directors at Seven		Management	For	Voted - For
6	Elect Directors		Management	For	Voted - Against
7	In Case There is Any Change to the Board Slate
	Composition, May Your Votes Still be Counted for
	the Proposed Slate?		Management	None	Voted - Against
	If Voting FOR on Item 8, Votes Are Distributed in
	Equal % Amongst Nominees voted FOR. If You Vote
	AGST, Contact Your Client Service Rep to Unequally
	Allocate % of Votes. If You Vote ABST, You Will Not
	Participate in Cumulative Voting.		Management	For	Non-Voting
8	In Case Cumulative Voting Is Adopted, Do You Wish
	to Equally Distribute Your Votes Amongst the
	Nominees below?		Management	None	Voted - Abstain
9.1	Percentage of Votes to Be Assigned - Elect Bruno
	Campos Garfinkel as Board Chairman		Management	None	Voted - Abstain
9.2	Percentage of Votes to Be Assigned - Elect Marco
	Ambrogio Crespi Bonomi as Board Vice-Chairman		Management	None	Voted - Abstain
9.3	Percentage of Votes to Be Assigned - Elect Ana
	Luiza Campos Garfinkel as Director		Management	None	Voted - Abstain
9.4	Percentage of Votes to Be Assigned - Elect Andre
	Luis Teixeira Rodrigues as Director		Management	None	Voted - Abstain
9.5	Percentage of Votes to Be Assigned - Elect Pedro
	Luiz Cerize as Independent Director		Management	None	Voted - Abstain
9.6	Percentage of Votes to Be Assigned - Elect Patricia
	Maria Muratori Calfat as Independent Director		Management	None	Voted - Abstain
9.7	Percentage of Votes to Be Assigned - Elect Paulo
	Sergio Kakinoff as Independent Director		Management	None	Voted - Abstain
10	Approve Remuneration of Company's Management and
	Fiscal Council		Management	For	Voted - Against
11	Do You Wish to Request Installation of a Fiscal
	Council, Under the Terms of Article 161 of the
	Brazilian Corporate Law?		Management	None	Voted - For
12	As an Ordinary Shareholder, Would You like to
	Request a Separate Minority Election of a Member of
	the Board of Directors, Under the Terms of Article
	141 of the Brazilian Corporate Law?		Management	None	Voted - Abstain
13	Do You Wish to Adopt Cumulative Voting for the
	Election of the Members of the Board of Directors,
	Under the Terms of Article 141 of the Brazilian
	Corporate Law?		Management	None	Voted - Abstain
Meeting Date: 31-Mar-22		Meeting Type: Extraordinary Shareholders
1	Approve Restricted Stock Plan		Management	For	Voted - For

42

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
POSCO
Security ID: Y70750115		Ticker: 005490
Meeting Date: 28-Jan-22		Meeting Type: Special
1	Approve Split-Off Agreement		Management	For	Voted - For
Meeting Date: 18-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1	Elect Jeon Jung-seon as Inside Director		Management	For	Voted - For
2.2	Elect Jeong Chang-hwa as Inside Director		Management	For	Voted - Against
2.3	Elect Yoo Byeong-ock as Inside Director		Management	For	Voted - Against
3	Elect Kim Hak-dong as Non-Independent Non-Executive
	Director		Management	For	Voted - Against
4.1	Elect Son Seong-gyu as Outside Director		Management	For	Voted - For
4.2	Elect Yoo Jin-nyeong as Outside Director		Management	For	Voted - For
4.3	Elect Park Hui-jae as Outside Director		Management	For	Voted - For
5.1	Elect Son Seong-gyu as a Member of Audit Committee		Management	For	Voted - For
5.2	Elect Yoo Jin-nyeong as a Member of Audit Committee		Management	For	Voted - For
6	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SA
Security ID: X6919X108		Ticker: PKO
Meeting Date: 12-May-22		Meeting Type: Annual
1	Open Meeting		Management	For	Non-Voting
2	Elect Meeting Chairman		Management	For	Voted - For
3	Acknowledge Proper Convening of Meeting		Management	For	Non-Voting
4	Approve Agenda of Meeting		Management	For	Voted - For
5	Receive Financial Statements and Management Board
	Proposal on Allocation of Income		Management	For	Non-Voting
6	Receive Management Board Report on Company's and
	Group's Operations, and Consolidated Financial
	Statements; and Statutory Reports		Management	For	Non-Voting
7	Receive Supervisory Board Report		Management	For	Non-Voting
8	Receive Supervisory Board Report on Remuneration
	Policy and Compliance with Corporate Governance
	Principles		Management	For	Non-Voting
9.a	Approve Financial Statements		Management	For	Voted - For
9.b	Approve Management Board Report on Company's and
	Group's Operations; and Report on Expenses Related
	to Representation, Legal Services, Marketing
	Services, Public Relations Services, Social
	Communication Services, and Management Advisory
	Services		Management	For	Voted - For
9.c	Approve Consolidated Financial Statements		Management	For	Voted - For
9.d	Approve Supervisory Board Report		Management	For	Voted - For

43

	Ninety One Emerging Markets Equity Fund
Proposal		Proposed by	Mgt. Position	Registrant Voted
9.e	Resolve Not to Allocate Income from Previous Years	Management	For	Voted - For
9.f	Approve Allocation of Income for Fiscal 2021	Management	For	Voted - For
9.g	Approve Dividends of PLN 1.83 per Share	Management	For	Voted - For
10	Approve Remuneration Report	Management	For	Voted - Against
11.1	Approve Discharge of Iwona Duda (Deputy CEO)	Management	For	Voted - For
11.2	Approve Discharge of Bartosz Drabikowski (Deputy
	CEO)	Management	For	Voted - For
11.3	Approve Discharge of Marcin Eckert (Deputy CEO)	Management	For	Voted - For
11.4	Approve Discharge of Wojciech Iwanicki (Deputy CEO)	Management	For	Voted - For
11.5	Approve Discharge of Maks Kraczkowski (Deputy CEO)	Management	For	Voted - For
11.6	Approve Discharge of Mieczyslaw Krol (Deputy CEO)	Management	For	Voted - For
11.7	Approve Discharge of Artur Kurcweil (Deputy CEO)	Management	For	Voted - For
11.8	Approve Discharge of Piotr Mazur (Deputy CEO)	Management	For	Voted - For
11.9	Approve Discharge of Zbigniew Jagiello (CEO)	Management	For	Voted - For
11.10Approve Discharge of Rafal Antczak (Deputy CEO)		Management	For	Voted - For
11.11Approve Discharge of Rafal Kozlowski (Deputy CEO)		Management	For	Voted - For
11.12Approve Discharge of Adam Marciniak (Deputy CEO)		Management	For	Voted - For
11.13Approve Discharge of Jakub Papierski (Deputy CEO)		Management	For	Voted - For
11.14Approve Discharge of Jan Rosciszewski (CEO and
	Deputy CEO)	Management	For	Voted - For
12.1	Approve Discharge of Maciej Lopinski (Supervisory
	Board Chairman)	Management	For	Voted - For
12.2	Approve Discharge of Wojciech Jasinski (Supervisory
	Board Member and Deputy Chairman)	Management	For	Voted - For
12.3	Approve Discharge of Dominik Kaczmarski
	(Supervisory Board Member and Secretary)	Management	For	Voted - For
12.4	Approve Discharge of Mariusz Andrzejewski
	(Supervisory Board Member)	Management	For	Voted - For
12.5	Approve Discharge of Grzegorz Chlopek (Supervisory
	Board Member)	Management	For	Voted - For
12.6	Approve Discharge of Andrzej Kisielewicz
	(Supervisory Board Member)	Management	For	Voted - For
12.7	Approve Discharge of Rafal Kos (Supervisory Board
	Member)	Management	For	Voted - For
12.8	Approve Discharge of Tomasz Kuczur (Supervisory
	Board Member)	Management	For	Voted - For
12.9	Approve Discharge of Krzysztof Michalski
	(Supervisory Board Member)	Management	For	Voted - For
12.10Approve Discharge of Bogdan Szafranski (Supervisory
	Board Member)	Management	For	Voted - For
12.11Approve Discharge of Agnieszka Winnik-Kalemba
	(Supervisory Board Member)	Management	For	Voted - For
12.12Approve Discharge of Grazyna Ciurzynska
	(Supervisory Board Secretary)	Management	For	Voted - For
12.13Approve Discharge of Zbigniew Hajlasz (Supervisory
	Board Member and Chairman)	Management	For	Voted - For
12.14Approve Discharge of Marcin Izdebski (Supervisory
	Board Deputy Chairman)	Management	For	Voted - For
12.15Approve Discharge of Piotr Sadownik (Supervisory
	Board Member)	Management	For	Voted - For
13	Amend Aug. 26, 2020, AGM, Resolution Re:
	Remuneration Policy	Management	For	Voted - Against

44

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
14	Amend Aug. 26, 2020, AGM, Resolution Re: Policy on
	Assessment of Suitability of Supervisory Board
	Members		Management	For	Voted - For
15	Approve Assessment of Suitability of Regulations on
	Supervisory Board		Management	For	Voted - For
16	Amend Statute		Management	For	Voted - For
17	Approve Regulations on Supervisory Board		Management	For	Voted - For
18	Approve Regulations on General Meetings		Management	For	Voted - For
19	Authorize Share Repurchase Program for Subsequent
	Cancellation; Approve Creation of Reserve Capital
	for Purpose of Share Repurchase Program		Management	For	Voted - For
20	Approve Individual Suitability of Supervisory Board
	Members		Management	For	Voted - Against
21	Approve Collective Suitability of Supervisory Board
	Members		Management	For	Voted - Against
22	Close Meeting		Management	For	Non-Voting
PT BANK CENTRAL ASIA TBK
Security ID: Y7123P138		Ticker: BBCA
Meeting Date: 17-Mar-22		Meeting Type: Annual
1	Approve Financial Statements, Statutory Reports,
	and Discharge of Directors and Commissioners		Management	For	Voted - For
2	Approve Allocation of Income and Dividends		Management	For	Voted - For
3	Approve Changes in the Board of Directors		Management	For	Voted - For
4	Approve Remuneration and Tantiem of Directors and
	Commissioners		Management	For	Voted - For
5	Approve Auditors		Management	For	Voted - For
6	Approve Payment of Interim Dividends		Management	For	Voted - For
7	Approve Revised Recovery Plan		Management	For	Voted - For
RELIANCE INDUSTRIES LTD.
Security ID: Y72596102		Ticker: 500325
Meeting Date: 09-Mar-22		Meeting Type: Court
	Court-Ordered Meeting for Equity Shareholders		Management	For	Non-Voting
1	Approve Scheme of Arrangement		Management	For	Voted - For
SAMSUNG ELECTRONICS CO., LTD.
Security ID: Y74718100		Ticker: 005930
Meeting Date: 16-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1.1 Elect Kim Han-jo as Outside Director			Management	For	Voted - Against
2.1.2 Elect Han Hwa-jin as Outside Director			Management	For	Voted - For
2.1.3 Elect Kim Jun-seong as Outside Director			Management	For	Voted - For

45

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
2.2.1 Elect Gyeong Gye-hyeon as Inside Director			Management	For	Voted - For
2.2.2 Elect Noh Tae-moon as Inside Director			Management	For	Voted - For
2.2.3 Elect Park Hak-gyu as Inside Director			Management	For	Voted - For
2.2.4 Elect Lee Jeong-bae as Inside Director			Management	For	Voted - For
2.3.1 Elect Kim Han-jo as a Member of Audit Committee			Management	For	Voted - Against
2.3.2 Elect Kim Jong-hun as a Member of Audit Committee			Management	For	Voted - Against
3	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
SAMSUNG LIFE INSURANCE CO., LTD.
Security ID: Y74860100		Ticker: 032830
Meeting Date: 17-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1.1 Elect Lee Geun-chang as Outside Director			Management	For	Voted - For
2.1.2 Elect Heo Gyeong-ock as Outside Director			Management	For	Voted - For
2.2.1 Elect Kim Seon as Inside Director			Management	For	Voted - For
2.2.2 Elect Ban Gi-bong as Inside Director			Management	For	Voted - For
3.1	Elect Lee Geun-chang as a Member of Audit Committee		Management	For	Voted - For
3.2	Elect Heo Gyeong-ock as a Member of Audit Committee		Management	For	Voted - For
4	Elect Yoo Il-ho as Outside Director to Serve as an
	Audit Committee Member		Management	For	Voted - For
5	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
SAUDI NATIONAL BANK
Security ID: M7S2CL107 Ticker: 1180
Meeting Date: 17-Apr-22		Meeting Type: Annual
	Ordinary Business		Management	For	Non-Voting
1	Approve Board Report on Company Operations for FY
	2021		Management	For	Voted - For
2	Accept Financial Statements and Statutory Reports
	for FY 2021		Management	For	Voted - For
3	Approve Auditors' Report on Company Financial
	Statements for FY 2021		Management	For	Voted - For
4	Approve Interim Dividends of SAR 0.90 per Share for
	the Second Half of FY 2021		Management	For	Voted - For
5	Ratify Distributed Interim Dividends of SAR 0.65
	per Share for the First Half of FY 2021		Management	For	Voted - For
6	Approve Interim Dividends Semi Annually or
	Quarterly for FY 2022		Management	For	Voted - For
7	Ratify Auditors and Fix Their Remuneration for Q1,
	Q2, Q3 and Annual Statement of FY 2022		Management	For	Voted - Against
8	Approve Remuneration of Directors of SAR 16,213,333
	for FY 2021		Management	For	Voted - For
9	Approve Discharge of Directors for FY 2021		Management	For	Voted - For
10	Amend Social Responsibility Policy		Management	For	Voted - For

46

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
11	Amend Sponsorship and Donation Policy		Management	For	Voted - For
12	Amend Audit Committee Charter		Management	For	Voted - Against
13	Amend Nomination and Remuneration Committee Charter		Management	For	Voted - For
14	Approve Authorization of the Board Regarding Future
	Related Party Transactions According to Article 71
	of the Companies Law		Management	For	Voted - For
15	Approve Allocation of 2,851,799 from Surplus
	Treasury Shares to Employee ExecutivePlan		Management	For	Voted - For
16	Approve Related Party Transactions Re: Bupa Arabia
	for Cooperative Insurance Co		Management	For	Voted - For
17	Approve Related Party Transactions Re: The Company
	for Cooperative Insurance		Management	For	Voted - For
18	Approve Related Party Transactions with The Saudi
	Telecom Company Re: Contract to Recharge the SMS
	Package		Management	For	Voted - For
19	Approve Related Party Transactions with The Saudi
	Telecom Company Re: Contract to Establish a New
	Free Service Line		Management	For	Voted - For
20	Approve Related Party Transactions Re: STC
	Solutions Company		Management	For	Voted - For
21	Approve Related Party Transactions Re: The Saudi
	Telecom Solutions Company		Management	For	Voted - For
22	Approve Related Party Transactions Re: The Saudi
	Tadawul Company		Management	For	Voted - For
23	Approve Related Party Transactions with Saudi
	Accenture Re: Contract for the Migration Program
	for Information Technology in the Merger Process
	Between National Commercial Bank and Samba
	Financial Group		Management	For	Voted - For
24	Approve Related Party Transactions with Saudi
	Accenture Re: Additional Contract for the Migration
	Program for Information Technology in the Merger
	Process Between National Commercial Bank and Samba
	Financial Group		Management	For	Voted - For
SK SQUARE CO. LTD.
Security ID: Y8T6X4107		Ticker: 402340
Meeting Date: 28-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
SK TELECOM CO., LTD.
Security ID: Y4935N104		Ticker: 017670
Meeting Date: 25-Mar-22		Meeting Type: Annual
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For

47

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
2	Amend Articles of Incorporation		Management	For	Voted - For
3	Approve Stock Option Grants		Management	For	Voted - For
4	Elect Kang Jong-ryeol as Inside Director		Management	For	Voted - For
5	Elect Kim Seok-dong as Outside Director to Serve as
	an Audit Committee Member		Management	For	Voted - For
6	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD.
Security ID: Y84629107		Ticker: 2330
Meeting Date: 08-Jun-22		Meeting Type: Annual
1	Approve Business Operations Report and Financial
	Statements		Management	For	Voted - For
2	Approve Amendments to Articles of Association		Management	For	Voted - For
3	Amend Procedures Governing the Acquisition or
	Disposal of Assets		Management	For	Voted - For
4	Approve Issuance of Restricted Stocks		Management	For	Voted - For
TAV HAVALIMANLARI HOLDING AS
Security ID: M8782T109 Ticker: TAVHL.E
Meeting Date: 31-Mar-22		Meeting Type: Annual
	Annual Meeting Agenda		Management	For	Non-Voting
1	Open Meeting, Elect Presiding Council of Meeting
	and Authorize Presiding Council to Sign Minutes of
	Meeting		Management	For	Voted - For
2	Accept Board Report		Management	For	Voted - For
3	Accept Audit Report		Management	For	Voted - For
4	Accept Financial Statements		Management	For	Voted - For
5	Approve Discharge of Board		Management	For	Voted - For
6	Approve Allocation of Income		Management	For	Voted - For
7	Approve Remuneration Policy		Management	For	Voted - For
8	Elect Directors		Management	For	Voted - For
9	Approve Director Remuneration		Management	For	Voted - For
10	Ratify External Auditors		Management	For	Voted - For
11	Amend Company Articles 3 and 6		Management	For	Voted - For
12	Approve Upper Limit of Donations for 2022 and
	Receive Information on Donations Made in 2021		Management	For	Voted - For
13	Receive Information on Related Party Transactions		Management	For	Non-Voting
14	Receive Information on Guarantees, Pledges and
	Mortgages Provided to Third Parties		Management	For	Non-Voting
15	Grant Permission for Board Members to Engage in
	Commercial Transactions with Company and Be
	Involved with Companies with Similar Corporate
	Purpose in Accordance with Articles 395 and 396 of
	Turkish Commercial Law		Management	For	Voted - For
16	Wishes		Management	For	Non-Voting
17	Close Meeting		Management	For	Non-Voting

48

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
TECH MAHINDRA LIMITED
Security ID: Y85491127		Ticker: 532755
Meeting Date: 30-Jul-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Accept Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Confirm Interim Dividend and Declare Final Dividend		Management	For	Voted - For
4	Reelect Anish Shah as Director		Management	For	Voted - For
5	Elect Manoj Bhat as Director		Management	For	Voted - For
TECHTRONIC INDUSTRIES CO., LTD.
Security ID: Y8563B159		Ticker: 669
Meeting Date: 13-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3a	Elect Patrick Kin Wah Chan as Director		Management	For	Voted - For
3b	Elect Camille Jojo as Director		Management	For	Voted - Against
3c	Elect Peter David Sullivan as Director		Management	For	Voted - Against
3d	Elect Johannes-Gerhard Hesse as Director		Management	For	Voted - For
3e	Elect Caroline Christina Kracht as Director		Management	For	Voted - For
3f	Authorize Board to Fix Remuneration of Directors		Management	For	Voted - For
4	Approve Deloitte Touche Tohmatsu as Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
5	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
6	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
TENCENT HOLDINGS LIMITED
Security ID: G87572163		Ticker: 700
Meeting Date: 18-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3a	Elect Li Dong Sheng as Director		Management	For	Voted - Against
3b	Elect Ian Charles Stone as Director		Management	For	Voted - Against
3c	Authorize Board to Fix Remuneration of Directors		Management	For	Voted - For
4	Approve Auditor and Authorize Board to Fix Their
	Remuneration		Management	For	Voted - For
5	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - Against
6	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
7	Authorize Reissuance of Repurchased Shares		Management	For	Voted - Against
8	Approve Proposed Amendments to the Second Amended
	and Restated Memorandum of Association and Articles

49

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
	of Association and Adopt the Third Amended and
	Restated Memorandum of Association and Articles of
	Association		Management	For	Voted - For
Meeting Date: 18-May-22		Meeting Type: Extraordinary Shareholders
1	Approve Refreshment of Scheme Mandate Limit Under
	the Share Option Plan		Management	For	Voted - Against
TERNIUM SA
Security ID: 880890108		Ticker: TX
Meeting Date: 03-May-22		Meeting Type: Annual
	Meeting for ADR Holders		Management	For	Non-Voting
1	Approve Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
2	Approve Financial Statements and Statutory Reports		Management	For	Voted - For
3	Approve Allocation of Income and Dividends		Management	For	Voted - For
4	Approve Discharge of Directors		Management	For	Voted - For
5	Elect Directors (Bundled)		Management	For	Voted - Against
6	Approve Remuneration of Directors		Management	For	Voted - For
7	Approve PricewaterhouseCoopers as Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
8	Allow Board to Appoint One or More of its Members
	as Company's Attorney-in-Fact		Management	For	Voted - For
THE MOSAIC COMPANY
Security ID: 61945C103		Ticker: MOS
Meeting Date: 19-May-22		Meeting Type: Annual
1a	Elect Director Cheryl K. Beebe		Management	For	Voted - For
1b	Elect Director Gregory L. Ebel		Management	For	Voted - For
1c	Elect Director Timothy S. Gitzel		Management	For	Voted - For
1d	Elect Director Denise C. Johnson		Management	For	Voted - For
1e	Elect Director Emery N. Koenig		Management	For	Voted - For
1f	Elect Director James (Joc) C. O'Rourke		Management	For	Voted - For
1g	Elect Director David T. Seaton		Management	For	Voted - Against
1h	Elect Director Steven M. Seibert		Management	For	Voted - For
1i	Elect Director Luciano Siani Pires		Management	For	Voted - For
1j	Elect Director Gretchen H. Watkins		Management	For	Voted - For
1k	Elect Director Kelvin R. Westbrook		Management	For	Voted - For
2	Ratify KPMG LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
4	Reduce Ownership Threshold for Shareholders to Call
	Special Meeting		Shareholder	Against	Voted - For

50

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
TRIP.COM GROUP LTD.
Security ID: G9066F101		Ticker: 9961
Meeting Date: 21-Dec-21		Meeting Type: Annual
1	Adopt Chinese Name as Dual Foreign Name of the
	Company		Management	For	Voted - For
2	Approve Third Amended and Restated Memorandum and
	Articles of Association		Management	For	Voted - For
	Meeting for ADR Holders		Management	For	Non-Voting
1	Adopt Chinese Name as Dual Foreign Name of the
	Company		Management	For	Voted - For
2	Approve Third Amended and Restated Memorandum and
	Articles of Association		Management	For	Voted - For
TSINGTAO BREWERY COMPANY LIMITED
Security ID: Y8997D102		Ticker: 168
Meeting Date: 28-Jun-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Work Report of the Board of Directors		Management	For	Voted - For
2	Approve Work Report of the Supervisory Committee		Management	For	Voted - For
3	Approve Financial Report (Audited)		Management	For	Voted - For
4	Approve Profit and Dividend Distribution Proposal		Management	For	Voted - For
5	Approve PricewaterhouseCoopers Zhong Tian LLP as
	Auditor and Authorize Board to Fix Their
	Remuneration		Management	For	Voted - For
6	Approve PricewaterhouseCoopers Zhong Tian LLP as
	Internal Control Auditor and Authorize Board to Fix
	Their Remuneration		Management	For	Voted - For
7	Elect Song Xuebao as Director		Shareholder	For	Voted - For
8	Amend Articles of Association		Shareholder	For	Voted - For
VALE SA
Security ID: P9661Q155 Ticker: VALE3
Meeting Date: 29-Apr-22		Meeting Type: Annual/Special
	Meeting for ADR Holders		Management	For	Non-Voting
	Annual Shareholders' Meeting		Management	For	Non-Voting
1	Accept Financial Statements and Statutory Reports
	for Fiscal Year Ended Dec. 31, 2021		Management	For	Voted - For
2	Approve Allocation of Income and Dividends		Management	For	Voted - For
3	Do You Wish to Adopt Cumulative Voting for the
	Election of the Members of the Board of Directors,
	Under the Terms of Article 141 of the Brazilian
	Corporate Law?		Management	None	Voted - Abstain
4a	Elect Jose Luciano Duarte Penido as Independent
	Director		Management	For	Voted - For

51

	Ninety One Emerging Markets Equity Fund
Proposal		Proposed by	Mgt. Position	Registrant Voted
4b	Elect Fernando Jorge Buso Gomes as Director	Management	For	Voted - For
4c	Elect Daniel Andre Stieler as Director	Management	For	Voted - For
4d	Elect Eduardo de Oliveira Rodrigues Filho as
	Director	Management	For	Voted - For
4e	Elect Ken Yasuhara as Director	Management	For	Voted - For
4f	Elect Manuel Lino Silva de Sousa Oliveira (Ollie)
	as Independent Director	Management	For	Voted - For
4g	Elect Marcelo Gasparino da Silva as Independent
	Director	Management	For	Voted - For
4h	Elect Mauro Gentile Rodrigues Cunha as Independent
	Director	Management	For	Voted - For
4i	Elect Murilo Cesar Lemos dos Santos Passos as
	Independent Director	Management	For	Voted - For
4j	Elect Rachel de Oliveira Maia as Independent
	Director	Management	For	Voted - For
4k	Elect Roberto da Cunha Castello Branco as
	Independent Director	Management	For	Voted - For
4l	Elect Roger Allan Downey as Independent Director	Management	For	Voted - For
	IF CUMULATIVE VOTE IS ADOPTED - Votes Are
	Distributed in Equal % Amongst Nominees voted FOR.
	If You Vote AGST, Contact Your Client Service Rep
	to Unequally Allocate % of Votes. If You Vote ABST,
	You Will Not Participate in Cumulative Voting	Management	For	Non-Voting
5	In Case Cumulative Voting Is Adopted, Do You Wish
	to Equally Distribute Your Votes Amongst the
	Nominees below?	Management	For	Non-Voting
6a	Percentage of Votes to Be Assigned - Elect Jose
	Luciano Duarte Penido as Independent Director	Management	None	Voted - Abstain
6b	Percentage of Votes to Be Assigned - Elect Fernando
	Jorge Buso Gomes as Director	Management	None	Voted - Abstain
6c	Percentage of Votes to Be Assigned - Elect Daniel
	Andre Stieler as Director	Management	None	Voted - Abstain
6d	Percentage of Votes to Be Assigned - Elect Eduardo
	de Oliveira Rodrigues Filho as Director	Management	None	Voted - Abstain
6e	Percentage of Votes to Be Assigned - Elect Ken
	Yasuhara as Director	Management	None	Voted - Abstain
6f	Percentage of Votes to Be Assigned - Elect Manuel
	Lino Silva de Sousa Oliveira (Ollie) as Independent
	Director	Management	None	Voted - Abstain
6g	Percentage of Votes to Be Assigned - Elect Marcelo
	Gasparino da Silva as Independent Director	Management	None	Voted - Abstain
6h	Percentage of Votes to Be Assigned - Elect Mauro
	Gentile Rodrigues Cunha as Independent Director	Management	None	Voted - Abstain
6i	Percentage of Votes to Be Assigned - Elect Murilo
	Cesar Lemos dos Santos Passos as Independent
	Director	Management	None	Voted - Abstain
6j	Percentage of Votes to Be Assigned - Elect Rachel
	de Oliveira Maia as Independent Director	Management	None	Voted - Abstain
6k	Percentage of Votes to Be Assigned - Elect Roberto
	da Cunha Castello Branco as Independent Director	Management	None	Voted - Abstain
6l	Percentage of Votes to Be Assigned - Elect Roger
	Allan Downey as Independent Director	Management	None	Voted - Abstain
7	Elect Jose Luciano Duarte Penido as Board Chairman	Management	For	Voted - For

52

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
8	Elect Fernando Jorge Buso Gomes as Board
	Vice-Chairman		Management	For	Voted - For
	Shareholders Must Vote For Only Four of the
	Candidates Under Items 9.1-9.6		Management	For	Non-Voting
9.1	Elect Marcelo Amaral Moraes as Fiscal Council
	Member and Marcus Vinicius Dias Severini as
	Alternate Appointed by Shareholder		Shareholder	None	Voted - Abstain
9.2	Elect Gueitiro Matsuo Genso as Fiscal Council
	Member Appointed by Shareholder		Shareholder	None	Voted - Abstain
9.3	Elect Marcio de Souza as Fiscal Council Member and
	Nelson de Menezes Filho as Alternate Appointed by
	Shareholder		Shareholder	None	Voted - For
9.4	Elect Raphael Manhaes Martins as Fiscal Council
	Member and Adriana de Andrade Sole as Alternate
	Appointed by Shareholder		Shareholder	None	Voted - For
9.5	Elect Heloisa Belotti Bedicks as Fiscal Council
	Member and Rodrigo de Mesquita Pereira as Alternate
	Appointed by Shareholder		Shareholder	None	Voted - For
9.6	Elect Robert Juenemann as Fiscal Council Member and
	Jandaraci Ferreira de Araujo as Alternate Appointed
	by Shareholder		Shareholder	None	Voted - For
10	Approve Remuneration of Company's Management and
	Fiscal Council		Management	For	Voted - For
11	Ratify Remuneration of Company's Management and
	Fiscal Council for 2021		Management	For	Voted - For
	Extraordinary Shareholders' Meeting		Management	For	Non-Voting
1	Amend Articles 5 and 14		Management	For	Voted - For
2	Approve Agreement to Absorb New Steel Global
	S.A.R.L (NSG), New Steel S.A. (New Steel), and
	Centro Tecnologico de Solucoes Sustentaveis S.A.
	(CTSS)		Management	For	Voted - For
3	Ratify Macso Legate Auditores Independentes (Macso)
	as Independent Firm to Appraise Proposed Transaction		Management	For	Voted - For
4	Approve Independent Firm's Appraisals		Management	For	Voted - For
5	Approve Absorption of New Steel Global S.A.R.L (NSG)		Management	For	Voted - For
6	Approve Absorption of New Steel S.A. (New Steel)		Management	For	Voted - For
7	Approve Absorption of Centro Tecnologico de
	Solucoes Sustentaveis S.A. (CTSS)		Management	For	Voted - For
WAL-MART DE MEXICO SAB DE CV
Security ID: P98180188		Ticker: WALMEX
Meeting Date: 07-Apr-22		Meeting Type: Annual
1a	Approve Report of Audit and Corporate Practices
	Committees		Management	For	Voted - For
1b	Approve CEO's Report		Management	For	Voted - For
1c	Approve Board Opinion on CEO's Report		Management	For	Voted - For
1d	Approve Board of Directors' Report		Management	For	Voted - For
1e	Approve Report Re: Employee Stock Purchase Plan		Management	For	Voted - For
2	Approve Consolidated Financial Statements		Management	For	Voted - For

53

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3	Approve Allocation of Income and Ordinary Dividend
	of MXN 1 Per Share and Extraordinary Dividend of
	MXN 0.71 per Share		Management	For	Voted - For
4	Approve Report on Share Repurchase Reserves		Management	For	Voted - For
5a1	Accept Resignation of Enrique Ostale as Director		Management	For	Voted - For
5a2	Accept Resignation of Richard Mayfield as Director		Management	For	Voted - For
5a3	Accept Resignation of Amanda Whalen as Director		Management	For	Voted - For
5a4	Accept Resignation of Roberto Newell as Director		Management	For	Voted - For
5b1	Elect or Ratify Judith McKenna as Director		Management	For	Voted - For
5b2	Elect or Ratify Leigh Hopkins as Director		Management	For	Voted - Against
5b3	Elect or Ratify Karthik Raghupathy as Director		Management	For	Voted - Against
5b4	Elect or Ratify Tom Ward as Director		Management	For	Voted - Against
5b5	Elect or Ratify Guilherme Loureiro as Director		Management	For	Voted - For
5b6	Elect or Ratify Kirsten Evans as Director		Management	For	Voted - For
5b7	Elect or Ratify Adolfo Cerezo as Director		Management	For	Voted - Against
5b8	Elect or Ratify Blanca Trevino as Director		Management	For	Voted - Against
5b9	Elect or Ratify Ernesto Cervera as Director		Management	For	Voted - For
5b10 Elect or Ratify Eric Perez Grovas as Director			Management	For	Voted - For
5c1	Elect or Ratify Adolfo Cerezo as Chairman of Audit
	and Corporate Practices Committees		Management	For	Voted - Against
5c2	Approve Discharge of Board of Directors and Officers		Management	For	Voted - For
5c3	Approve Directors and Officers Liability		Management	For	Voted - For
5d1	Approve Remuneration of Board Chairman		Management	For	Voted - For
5d2	Approve Remuneration of Director		Management	For	Voted - For
5d3	Approve Remuneration of Chairman of Audit and
	Corporate Practices Committees		Management	For	Voted - For
5d4	Approve Remuneration of Member of Audit and
	Corporate Practices Committees		Management	For	Voted - For
6	Authorize Board to Ratify and Execute Approved
	Resolutions		Management	For	Voted - For
WH GROUP LIMITED
Security ID: G96007102		Ticker: 288
Meeting Date: 16-Aug-21		Meeting Type: Extraordinary Shareholders
1	Approve Conditional Voluntary Cash Offer to
	Buy-Back Shares and Related Transactions		Management	For	Voted - For
2	Approve Whitewash Waiver and Related Transactions		Management	For	Voted - For
Meeting Date: 01-Jun-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2a	Elect Guo Lijun as Director		Management	For	Voted - For
2b	Elect Wan Hongwei as Director		Management	For	Voted - For
2c	Elect Charles Shane Smith as Director		Management	For	Voted - For
2d	Elect Jiao Shuge as Director		Management	For	Voted - For
3	Authorize Board to Fix Remuneration of Directors		Management	For	Voted - For
4	Approve Ernst & Young as Auditor and Authorize
	Board to Fix Their Remuneration		Management	For	Voted - For
5	Approve Final Dividend		Management	For	Voted - For

54

Ninety One Emerging Markets Equity Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
6	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
7	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - Against
8	Authorize Reissuance of Repurchased Shares		Management	For	Voted - Against
WIPRO LIMITED
Security ID: Y96659142		Ticker: 507685
Meeting Date: 14-Jul-21		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Confirm Interim Dividend as Final Dividend		Management	For	Voted - For
3	Reelect Thierry Delaporte as Director		Management	For	Voted - For
4	Elect Tulsi Naidu as Director		Management	For	Voted - For
5	Approve Revision in the Terms of Remuneration of
	Rishad A. Premji as Whole Time Director, Designated
	as Executive Chairman		Management	For	Voted - For
YAGEO CORP.
Security ID: Y9723R100		Ticker: 2327
Meeting Date: 07-Jul-21		Meeting Type: Annual
1	Approve 2020 Closing Accounts		Management	For	Voted - For
2	Approve to Change the Fund Usage Plan of 2020 GDR
	and 5th ECB		Management	For	Voted - For
3	Approve Cash Distribution from Capital Surplus		Management	For	Voted - For
	ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT
	DIRECTORS VIA CUMULATIVE VOTING		Management	For	Non-Voting
4.1	Elect Tie-Min Chen with Shareholder No. 2 as
	Non-independent Director		Management	For	Voted - For
4.2	Elect Deng-Rue Wang, a Representative of Hsu Chang
	Investment Ltd with Shareholder No. 99108 as
	Non-independent Director		Management	For	Voted - For
4.3	Elect Chin-San Wang, a Representative of Hsu Chang
	Investment Ltd with Shareholder No. 99108 as
	Non-independent Director		Management	For	Voted - Against
4.4	Elect Tzone-Yeong Lin, a Representative of Hsu
	Chang Investment Ltd with Shareholder No. 99108 as
	Non-independent Director		Management	For	Voted - Against
4.5	Elect Shih-Chien Yang, a Representative of Hsu
	Chang Investment Ltd with Shareholder No. 99108 as
	Non-independent Director		Management	For	Voted - Against
4.6	Elect Ching-Chang Yen, a Representative of Hsu
	Chang Investment Ltd with Shareholder No. 99108 as
	Non-independent Director		Management	For	Voted - Against
4.7	Elect Cheng-Ling Lee with ID No. A110406XXX as
	Independent Director		Management	For	Voted - Against
4.8	Elect LIN HSU TUN SON with ID No. AC00636XXX as
	Independent Director		Management	For	Voted - For
4.9	Elect Hong-So Chen with ID No. F120677XXX as
	Independent Director		Management	For	Voted - Against

55

		Ninety One Emerging Markets Equity Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
5	Approve Release of Restrictions of Competitive
	Activities of Directors		Management	For	Voted - For
Meeting Date: 07-Sep-21		Meeting Type: Special
1	Amend Procedures Governing the Acquisition or
	Disposal of Assets		Management	For	Voted - Against
2	Approve Plan to Issue New Shares to Complement a
	Share Exchange to Obtain 100% Shares of Chilisin
	Electronics Corp.		Management	For	Voted - For
Meeting Date: 08-Jun-22		Meeting Type: Annual
1	Approve Financial Statements		Management	For	Voted - For
2	Approve Amendments to Articles of Association		Management	For	Voted - For
3	Amend Procedures Governing the Acquisition or
	Disposal of Assets		Management	For	Voted - For
4	Approve Capital Reduction Plan		Management	For	Voted - For
ZIJIN MINING GROUP CO., LTD.
Security ID: Y9892H107		Ticker: 2899
Meeting Date: 17-May-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Independent Directors		Management	For	Voted - For
3	Approve Report of the Supervisory Committee		Management	For	Voted - For
4	Approve Annual Report and Its Summary Report		Management	For	Voted - For
5	Approve Financial Report		Management	For	Voted - For
6	Approve Profit Distribution Proposal		Management	For	Voted - For
7	Approve Remuneration of the Executive Directors and
	Chairman of the Supervisory Committee		Management	For	Voted - For
8	Approve Ernst & Young Hua Ming LLP as Auditor and
	Authorize Chairman of the Board, President and
	Financial Controller to Fix Their Remuneration		Management	For	Voted - For
9	Approve Authorization to the Board on External
	Donations		Management	For	Voted - For
10	Approve Change in One of the Projects to be
	Invested by the Proceeds Raised		Management	For	Voted - For
11	Approve Changes in Registered Share Capital and
	Amend Articles of Association		Management	For	Voted - For
12	Approve General Mandate to Issue Debt Financing
	Instruments		Management	For	Voted - For
13	Approve Arrangement of Guarantees to the Company's
	Subsidiaries		Management	For	Voted - Against

56

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
ALIBABA GROUP HOLDING LIMITED
Security ID: G01719114		Ticker: 9988
Meeting Date: 17-Sep-21		Meeting Type: Annual
	Meeting for ADR Holders		Management	For	Non-Voting
1.1	Elect Director Joseph C. Tsai		Management	For	Voted - Abstain
1.2	Elect Director J. Michael Evans		Management	For	Voted - Abstain
1.3	Elect Director E. Borje Ekholm		Management	For	Voted - For
2	Ratify PricewaterhouseCoopers as Auditors		Management	For	Voted - For
ASML HOLDING NV
Security ID: N07059202		Ticker: ASML
Meeting Date: 29-Apr-22		Meeting Type: Annual
	Annual Meeting Agenda		Management	For	Non-Voting
1	Open Meeting		Management	For	Non-Voting
2	Discuss the Company's Business, Financial Situation
	and Sustainability		Management	For	Non-Voting
3a	Approve Remuneration Report		Management	For	Voted - For
3b	Adopt Financial Statements and Statutory Reports		Management	For	Voted - For
3c	Receive Explanation on Company's Reserves and
	Dividend Policy		Management	For	Non-Voting
3d	Approve Dividends of EUR 5.50 Per Share		Management	For	Voted - For
4a	Approve Discharge of Management Board		Management	For	Voted - For
4b	Approve Discharge of Supervisory Board		Management	For	Voted - For
5	Approve Number of Shares for Management Board		Management	For	Voted - For
6	Amend Remuneration Policy for Management Board		Management	For	Voted - For
7a	Announce Intention to Reappoint P.T.F.M. Wennink to
	Management Board		Management	For	Non-Voting
7b	Announce Intention to Reappoint M.A. van den Brink
	to Management Board		Management	For	Non-Voting
7c	Announce Intention to Reappoint F.J.M.
	Schneider-Maunoury to Management Board		Management	For	Non-Voting
7d	Announce Intention to Reappoint C.D. Fouquet to
	Management Board		Management	For	Non-Voting
7e	Announce Intention to Reappoint R.J.M. Dassen to
	Management Board		Management	For	Non-Voting
8a	Announce Vacancies on the Supervisory Board		Management	For	Non-Voting
8b	Opportunity to Make Recommendations		Management	For	Non-Voting
8c	Announce Recommendation to Reappoint T.L. Kelly and
	Appoint A.F.M. Everke and A.L. Steegen as Members
	of the Supervisory Board		Management	For	Non-Voting
8d	Reelect T.L. Kelly to Supervisory Board		Management	For	Voted - For
8e	Elect A.F.M. Everke to Supervisory Board		Management	For	Voted - For
8f	Elect A.L. Steegen to Supervisory Board		Management	For	Voted - For
8g	Discuss Composition of the Supervisory Board		Management	For	Non-Voting

57

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
9	Ratify KPMG Accountants N.V. as Auditors for the
	Reporting Years 2023 and 2024		Management	For	Voted - For
10	Ratify Deloitte Accountants B.V. as Auditors for
	the Reporting Year 2025		Management	For	Non-Voting
11	Amend Articles of Association		Management	For	Voted - For
12a	Grant Board Authority to Issue Shares Up to 5
	Percent of Issued Capital Plus Additional 5 Percent
	in Case of Merger or Acquisition		Management	For	Voted - For
12b	Authorize Board to Exclude Preemptive Rights from
	Share Issuances		Management	For	Voted - For
13	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - For
14	Authorize Cancellation of Repurchased Shares		Management	For	Voted - For
15	Other Business (Non-Voting)		Management	For	Non-Voting
16	Close Meeting		Management	For	Non-Voting
AUTODESK, INC.
Security ID: 052769106		Ticker: ADSK
Meeting Date: 16-Jun-22		Meeting Type: Annual
1a	Elect Director Andrew Anagnost		Management	For	Voted - For
1b	Elect Director Karen Blasing		Management	For	Voted - For
1c	Elect Director Reid French		Management	For	Voted - For
1d	Elect Director Ayanna Howard		Management	For	Voted - For
1e	Elect Director Blake Irving		Management	For	Voted - For
1f	Elect Director Mary T. McDowell		Management	For	Voted - For
1g	Elect Director Stephen Milligan		Management	For	Voted - For
1h	Elect Director Lorrie M. Norrington		Management	For	Voted - For
1i	Elect Director Betsy Rafael		Management	For	Voted - For
1j	Elect Director Stacy J. Smith		Management	For	Voted - For
2	Ratify Ernst & Young LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
4	Approve Omnibus Stock Plan		Management	For	Voted - For
BECTON, DICKINSON AND COMPANY
Security ID: 075887109		Ticker: BDX
Meeting Date: 25-Jan-22		Meeting Type: Annual
1.1	Elect Director Catherine M. Burzik		Management	For	Voted - For
1.2	Elect Director Carrie L. Byington		Management	For	Voted - For
1.3	Elect Director R. Andrew Eckert		Management	For	Voted - For
1.4	Elect Director Claire M. Fraser		Management	For	Voted - For
1.5	Elect Director Jeffrey W. Henderson		Management	For	Voted - For
1.6	Elect Director Christopher Jones		Management	For	Voted - For
1.7	Elect Director Marshall O. Larsen		Management	For	Voted - For
1.8	Elect Director David F. Melcher		Management	For	Voted - For

58

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
1.9	Elect Director Thomas E. Polen		Management	For	Voted - For
1.10	Elect Director Claire Pomeroy		Management	For	Voted - For
1.11	Elect Director Timothy M. Ring		Management	For	Voted - For
1.12	Elect Director Bertram L. Scott		Management	For	Voted - Abstain
2	Ratify Ernst & Young LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
4	Reduce Ownership Threshold for Shareholders to Call
	Special Meeting		Shareholder	Against	Voted - For
BEIERSDORF AG
Security ID: D08792109		Ticker: BEI
Meeting Date: 14-Apr-22		Meeting Type: Annual
1	Receive Financial Statements and Statutory Reports
	for Fiscal Year 2021 (Non-Voting)		Management	For	Non-Voting
2	Approve Allocation of Income and Dividends of EUR
	0.70 per Share		Management	For	Voted - Against
3	Approve Discharge of Management Board for Fiscal
	Year 2021		Management	For	Voted - For
4	Approve Discharge of Supervisory Board for Fiscal
	Year 2021		Management	For	Voted - For
5	Ratify Ernst & Young GmbH as Auditors for Fiscal
	Year 2022		Management	For	Voted - For
6	Approve Remuneration Report		Management	For	Voted - Abstain
BOOKING HOLDINGS INC.
Security ID: 09857L108		Ticker: BKNG
Meeting Date: 09-Jun-22		Meeting Type: Annual
1.1	Elect Director Timothy Armstrong		Management	For	Voted - For
1.2	Elect Director Glenn D. Fogel		Management	For	Voted - For
1.3	Elect Director Mirian M. Graddick-Weir		Management	For	Voted - For
1.4	Elect Director Wei Hopeman		Management	For	Voted - For
1.5	Elect Director Robert J. Mylod, Jr.		Management	For	Voted - For
1.6	Elect Director Charles H. Noski		Management	For	Voted - For
1.7	Elect Director Nicholas J. Read		Management	For	Voted - For
1.8	Elect Director Thomas E. Rothman		Management	For	Voted - For
1.9	Elect Director Sumit Singh		Management	For	Voted - For
1.10	Elect Director Lynn Vojvodich Radakovich		Management	For	Voted - For
1.11	Elect Director Vanessa A. Wittman		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify Deloitte & Touche LLP as Auditors		Management	For	Voted - For
4	Reduce Ownership Threshold for Shareholders to Call
	Special Meeting		Shareholder	Against	Voted - For

59

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
5	Report on Climate Change Performance Metrics Into
	Executive Compensation Program		Shareholder	Against	Voted - Against
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
Security ID: M22465104		Ticker: CHKP
Meeting Date: 10-Aug-21		Meeting Type: Annual
1a	Reelect Gil Shwed as Director		Management	For	Voted - For
1b	Reelect Jerry Ungerman as Director		Management	For	Voted - For
1c	Reelect Rupal Hollenbeck as Director		Management	For	Voted - For
1d	Reelect Tal Shavit as Director		Management	For	Voted - Against
1e	Reelect Eyal Waldman as Director		Management	For	Voted - For
1f	Reelect Shai Weiss as Director		Management	For	Voted - For
2a	Reelect Yoav Chelouche as External Director		Management	For	Voted - Against
2b	Reelect Guy Gecht as External Director		Management	For	Voted - Against
3	Amend Article Re: Board Related		Management	For	Voted - For
4	Reappoint Kost, Forer, Gabbay & Kasierer as
	Auditors and Authorize Board to Fix Their
	Remuneration		Management	For	Voted - For
5	Approve Employment Terms of Gil Shwed, CEO		Management	For	Voted - For
A	Vote FOR if you are NOT a controlling shareholder
	and do NOT have a personal interest in one or
	several resolutions, as indicated in the proxy
	card; otherwise, vote AGAINST. If you vote AGAINST,
	please provide an explanation to your account
	manager		Management	None	Voted - For
ELECTRONIC ARTS INC.
Security ID: 285512109		Ticker: EA
Meeting Date: 12-Aug-21		Meeting Type: Annual
1a	Elect Director Kofi A. Bruce		Management	For	Voted - For
1b	Elect Director Leonard S. Coleman		Management	For	Voted - For
1c	Elect Director Jeffrey T. Huber		Management	For	Voted - For
1d	Elect Director Talbott Roche		Management	For	Voted - For
1e	Elect Director Richard A. Simonson		Management	For	Voted - For
1f	Elect Director Luis A. Ubinas		Management	For	Voted - For
1g	Elect Director Heidi J. Ueberroth		Management	For	Voted - For
1h	Elect Director Andrew Wilson		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify KPMG LLP as Auditors		Management	For	Voted - For
4	Provide Right to Act by Written Consent		Management	For	Voted - For
5	Provide Right to Act by Written Consent		Shareholder	Against	Voted - For

60

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
FACTSET RESEARCH SYSTEMS INC.
Security ID: 303075105		Ticker: FDS
Meeting Date: 16-Dec-21		Meeting Type: Annual
1a	Elect Director Siew Kai Choy		Management	For	Voted - For
1b	Elect Director Lee Shavel		Management	For	Voted - For
1c	Elect Director Joseph R. Zimmel		Management	For	Voted - For
2	Ratify Ernst & Young LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
4	Adopt Proxy Access Right		Shareholder	Against	Voted - For
ICON PLC
Security ID: G4705A100 Ticker: ICLR
Meeting Date: 20-Jul-21		Meeting Type: Annual
1.1	Elect Director Ciaran Murray		Management	For	Voted - For
1.2	Elect Director Joan Garahy		Management	For	Voted - For
1.3	Elect Director Eugene McCague		Management	For	Voted - For
2.1	Elect Director Colin Shannon		Management	For	Voted - For
2.2	Elect Director Linda Grais		Management	For	Voted - For
3	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
4	Authorize Board to Fix Remuneration of Auditors		Management	For	Voted - For
5	Authorize Issue of Equity		Management	For	Voted - For
6	Authorize Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
7	Authorize Issue of Equity without Pre-emptive
	Rights in Connection with an Acquisition or Other
	Capital Investment		Management	For	Voted - For
8	Authorize Share Repurchase Program		Management	For	Voted - For
9	Approve the Price Range for the Reissuance of Shares		Management	For	Voted - For
INTUIT INC.
Security ID: 461202103		Ticker: INTU
Meeting Date: 20-Jan-22		Meeting Type: Annual
1a	Elect Director Eve Burton		Management	For	Voted - For
1b	Elect Director Scott D. Cook		Management	For	Voted - For
1c	Elect Director Richard L. Dalzell		Management	For	Voted - For
1d	Elect Director Sasan K. Goodarzi		Management	For	Voted - For
1e	Elect Director Deborah Liu		Management	For	Voted - For
1f	Elect Director Tekedra Mawakana		Management	For	Voted - For
1g	Elect Director Suzanne Nora Johnson		Management	For	Voted - For
1h	Elect Director Dennis D. Powell		Management	For	Voted - Abstain
1i	Elect Director Brad D. Smith		Management	For	Voted - For
1j	Elect Director Thomas Szkutak		Management	For	Voted - For

61

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
1k	Elect Director Raul Vazquez		Management	For	Voted - For
1l	Elect Director Jeff Weiner		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify Ernst & Young LLP as Auditors		Management	For	Voted - For
4	Amend Omnibus Stock Plan		Management	For	Voted - For
JOHNSON & JOHNSON
Security ID: 478160104		Ticker: JNJ
Meeting Date: 28-Apr-22		Meeting Type: Annual
1a	Elect Director Darius Adamczyk		Management	For	Voted - For
1b	Elect Director Mary C. Beckerle		Management	For	Voted - For
1c	Elect Director D. Scott Davis		Management	For	Voted - For
1d	Elect Director Ian E. L. Davis		Management	For	Voted - For
1e	Elect Director Jennifer A. Doudna		Management	For	Voted - For
1f	Elect Director Joaquin Duato		Management	For	Voted - For
1g	Elect Director Alex Gorsky		Management	For	Voted - For
1h	Elect Director Marillyn A. Hewson		Management	For	Voted - For
1i	Elect Director Hubert Joly		Management	For	Voted - For
1j	Elect Director Mark B. McClellan		Management	For	Voted - For
1k	Elect Director Anne M. Mulcahy		Management	For	Voted - For
1l	Elect Director A. Eugene Washington		Management	For	Voted - For
1m	Elect Director Mark A. Weinberger		Management	For	Voted - For
1n	Elect Director Nadja Y. West		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Approve Omnibus Stock Plan		Management	For	Voted - For
4	Ratify PricewaterhouseCoopers LLP as Auditors		Management	For	Voted - For
5	Adopt a Mandatory Arbitration Bylaw *Withdrawn
	Resolution*		Shareholder	Against	Non-Voting
6	Report on a Civil Rights, Equity, Diversity and
	Inclusion Audit		Shareholder	Against	Voted - For
7	Oversee and Report a Racial Equity Audit		Shareholder	Against	Voted - For
8	Report on Government Financial Support and Access
	to COVID-19 Vaccines and Therapeutics		Shareholder	Against	Voted - For
9	Report on Public Health Costs of Limited Sharing of
	Vaccine Technology		Shareholder	Against	Voted - For
10	Discontinue Global Sales of Baby Powder Containing
	Talc		Shareholder	Against	Voted - For
11	Report on Charitable Contributions		Shareholder	Against	Voted - For
12	Publish Third-Party Review of Alignment of
	Company's Lobbying Activities with its Public
	Statements		Shareholder	Against	Voted - For
13	Adopt Policy to Include Legal and Compliance Costs
	in Incentive Compensation Metrics		Shareholder	Against	Voted - For
14	Consider Pay Disparity Between Executives and Other
	Employees		Shareholder	Against	Voted - For

62

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
MICROSOFT CORPORATION
Security ID: 594918104		Ticker: MSFT
Meeting Date: 30-Nov-21		Meeting Type: Annual
1.1	Elect Director Reid G. Hoffman		Management	For	Voted - For
1.2	Elect Director Hugh F. Johnston		Management	For	Voted - For
1.3	Elect Director Teri L. List		Management	For	Voted - For
1.4	Elect Director Satya Nadella		Management	For	Voted - For
1.5	Elect Director Sandra E. Peterson		Management	For	Voted - For
1.6	Elect Director Penny S. Pritzker		Management	For	Voted - For
1.7	Elect Director Carlos A. Rodriguez		Management	For	Voted - For
1.8	Elect Director Charles W. Scharf		Management	For	Voted - For
1.9	Elect Director John W. Stanton		Management	For	Voted - For
1.10	Elect Director John W. Thompson		Management	For	Voted - For
1.11	Elect Director Emma N. Walmsley		Management	For	Voted - For
1.12	Elect Director Padmasree Warrior		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Approve Qualified Employee Stock Purchase Plan		Management	For	Voted - For
4	Ratify Deloitte & Touche LLP as Auditors		Management	For	Voted - For
5	Report on Gender/Racial Pay Gap		Shareholder	Against	Voted - Against
6	Report on Effectiveness of Workplace Sexual
	Harassment Policies		Shareholder	Against	Voted - Against
7	Prohibit Sales of Facial Recognition Technology to
	All Government Entities		Shareholder	Against	Voted - Against
8	Report on Implementation of the Fair Chance
	Business Pledge		Shareholder	Against	Voted - Against
9	Report on Lobbying Activities Alignment with
	Company Policies		Shareholder	Against	Voted - Against
MOODY'S CORPORATION
Security ID: 615369105		Ticker: MCO
Meeting Date: 26-Apr-22		Meeting Type: Annual
1a	Elect Director Jorge A. Bermudez		Management	For	Voted - For
1b	Elect Director Therese Esperdy		Management	For	Voted - For
1c	Elect Director Robert Fauber		Management	For	Voted - For
1d	Elect Director Vincent A. Forlenza		Management	For	Voted - For
1e	Elect Director Kathryn M. Hill		Management	For	Voted - For
1f	Elect Director Lloyd W. Howell, Jr.		Management	For	Voted - For
1g	Elect Director Raymond W. McDaniel, Jr.		Management	For	Voted - For
1h	Elect Director Leslie F. Seidman		Management	For	Voted - For
1i	Elect Director Zig Serafin		Management	For	Voted - For
1j	Elect Director Bruce Van Saun		Management	For	Voted - For
2	Ratify KPMG LLP as Auditors		Management	For	Voted - For

63

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
NESTLE SA
Security ID: H57312649		Ticker: NESN
Meeting Date: 07-Apr-22		Meeting Type: Annual
1.1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
1.2	Approve Remuneration Report		Management	For	Voted - For
2	Approve Discharge of Board and Senior Management		Management	For	Voted - For
3	Approve Allocation of Income and Dividends of CHF
	2.80 per Share		Management	For	Voted - For
4.1.a Reelect Paul Bulcke as Director and Board Chairman			Management	For	Voted - For
4.1.b Reelect Ulf Schneider as Director			Management	For	Voted - For
4.1.c Reelect Henri de Castries as Director			Management	For	Voted - For
4.1.d Reelect Renato Fassbind as Director			Management	For	Voted - For
4.1.e Reelect Pablo Isla as Director			Management	For	Voted - For
4.1.f Reelect Eva Cheng as Director			Management	For	Voted - For
4.1.g Reelect Patrick Aebischer as Director			Management	For	Voted - For
4.1.h Reelect Kimberly Ross as Director			Management	For	Voted - For
4.1.i Reelect Dick Boer as Director			Management	For	Voted - For
4.1.j Reelect Dinesh Paliwal as Director			Management	For	Voted - For
4.1.k Reelect Hanne Jimenez de Mora as Director			Management	For	Voted - For
4.1.l Reelect Lindiwe Sibanda as Director			Management	For	Voted - For
4.2.1 Elect Chris Leong as Director			Management	For	Voted - For
4.2.2 Elect Luca Maestri as Director			Management	For	Voted - For
4.3.1 Appoint Pablo Isla as Member of the Compensation
	Committee		Management	For	Voted - For
4.3.2 Appoint Patrick Aebischer as Member of the
	Compensation Committee		Management	For	Voted - For
4.3.3 Appoint Dick Boer as Member of the Compensation
	Committee		Management	For	Voted - For
4.3.4 Appoint Dinesh Paliwal as Member of the
	Compensation Committee		Management	For	Voted - For
4.4	Ratify Ernst & Young AG as Auditors		Management	For	Voted - For
4.5	Designate Hartmann Dreyer as Independent Proxy		Management	For	Voted - For
5.1	Approve Remuneration of Directors in the Amount of
	CHF 10 Million		Management	For	Voted - For
5.2	Approve Remuneration of Executive Committee in the
	Amount of CHF 68 Million		Management	For	Voted - For
6	Approve CHF 6.5 Million Reduction in Share Capital
	as Part of the Share Buyback Program via
	Cancellation of Repurchased Shares		Management	For	Voted - For
7	Transact Other Business (Voting)		Management	Against	Voted - Against

64

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
NETEASE, INC.
Security ID: G6427A102 Ticker: 9999
Meeting Date: 16-Jun-22		Meeting Type: Annual
	Meeting for ADR Holders		Management	For	Non-Voting
1a	Elect William Lei Ding as Director		Management	For	Voted - For
1b	Elect Alice Yu-Fen Cheng as Director		Management	For	Voted - Abstain
1c	Elect Joseph Tze Kay Tong as Director		Management	For	Voted - Abstain
1d	Elect Lun Feng as Director		Management	For	Voted - Abstain
1e	Elect Michael Man Kit Leung as Director		Management	For	Voted - Abstain
2	Approve Appointment of PricewaterhouseCoopers Zhong
	Tian LLP and PricewaterhouseCoopers as Auditors		Management	For	Voted - For
PHILIP MORRIS INTERNATIONAL INC
Security ID: 718172109		Ticker: PM
Meeting Date: 04-May-22		Meeting Type: Annual
1a	Elect Director Brant Bonin Bough		Management	For	Voted - For
1b	Elect Director Andre Calantzopoulos		Management	For	Voted - For
1c	Elect Director Michel Combes		Management	For	Voted - For
1d	Elect Director Juan Jose Daboub		Management	For	Voted - For
1e	Elect Director Werner Geissler		Management	For	Voted - For
1f	Elect Director Lisa A. Hook		Management	For	Voted - For
1g	Elect Director Jun Makihara		Management	For	Voted - For
1h	Elect Director Kalpana Morparia		Management	For	Voted - For
1i	Elect Director Lucio A. Noto		Management	For	Voted - For
1j	Elect Director Jacek Olczak		Management	For	Voted - For
1k	Elect Director Frederik Paulsen		Management	For	Voted - For
1l	Elect Director Robert B. Polet		Management	For	Voted - For
1m	Elect Director Dessislava Temperley		Management	For	Voted - For
1n	Elect Director Shlomo Yanai		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Approve Omnibus Stock Plan		Management	For	Voted - For
4	Ratify PricewaterhouseCoopers SA as Auditors		Management	For	Voted - For
5	Phase Out Production of Health-Hazardous and
	Addictive Products		Shareholder	Against	Voted - Against
S&P GLOBAL INC.
Security ID: 78409V104		Ticker: SPGI
Meeting Date: 04-May-22		Meeting Type: Annual
1.1	Elect Director Marco Alvera		Management	For	Voted - For
1.2	Elect Director Jacques Esculier		Management	For	Voted - For
1.3	Elect Director Gay Huey Evans		Management	For	Voted - For

65

Ninety One Global Franchise Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
1.4	Elect Director William D. Green		Management	For	Voted - For
1.5	Elect Director Stephanie C. Hill		Management	For	Voted - For
1.6	Elect Director Rebecca Jacoby		Management	For	Voted - For
1.7	Elect Director Robert P. Kelly		Management	For	Voted - For
1.8	Elect Director Ian Paul Livingston		Management	For	Voted - For
1.9	Elect Director Deborah D. McWhinney		Management	For	Voted - For
1.10	Elect Director Maria R. Morris		Management	For	Voted - For
1.11	Elect Director Douglas L. Peterson		Management	For	Voted - For
1.12	Elect Director Edward B. Rust, Jr.		Management	For	Voted - For
1.13	Elect Director Richard E. Thornburgh		Management	For	Voted - For
1.14	Elect Director Gregory Washington		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify Ernst & Young LLP as Auditors		Management	For	Voted - For
SAMSUNG ELECTRONICS CO., LTD.
Security ID: Y74718100		Ticker: 005930
Meeting Date: 16-Mar-22		Meeting Type: Annual
	Meeting for GDR Holders		Management	For	Non-Voting
1	Approve Financial Statements and Allocation of
	Income		Management	For	Voted - For
2.1.1 Elect Kim Han-jo as Outside Director			Management	For	Voted - Against
2.1.2 Elect Han Hwa-jin as Outside Director			Management	For	Voted - For
2.1.3 Elect Kim Jun-seong as Outside Director			Management	For	Voted - For
2.2.1 Elect Gyeong Gye-hyeon as Inside Director			Management	For	Voted - For
2.2.2 Elect Noh Tae-moon as Inside Director			Management	For	Voted - For
2.2.3 Elect Park Hak-gyu as Inside Director			Management	For	Voted - For
2.2.4 Elect Lee Jeong-bae as Inside Director			Management	For	Voted - For
2.3.1 Elect Kim Han-jo as a Member of Audit Committee			Management	For	Voted - Against
2.3.2 Elect Kim Jong-hun as a Member of Audit Committee			Management	For	Voted - Against
3	Approve Total Remuneration of Inside Directors and
	Outside Directors		Management	For	Voted - For
ST. JAMES'S PLACE PLC
Security ID: G5005D124 Ticker: STJ
Meeting Date: 19-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Re-elect Andrew Croft as Director		Management	For	Voted - For
4	Re-elect Craig Gentle as Director		Management	For	Voted - For
5	Re-elect Emma Griffin as Director		Management	For	Voted - For
6	Re-elect Rosemary Hilary as Director		Management	For	Voted - For
7	Re-elect Simon Jeffreys as Director		Management	For	Voted - For
8	Re-elect Roger Yates as Director		Management	For	Voted - For

66

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
9	Re-elect Lesley-Ann Nash as Director		Management	For	Voted - For
10	Re-elect Paul Manduca as Director		Management	For	Voted - For
11	Elect John Hitchins as Director		Management	For	Voted - For
12	Approve Remuneration Report		Management	For	Voted - For
13	Reappoint PricewaterhouseCoopers LLP (PwC) as
	Auditors		Management	For	Voted - For
14	Authorise Board to Fix Remuneration of Auditors		Management	For	Voted - For
15	Authorise Issue of Equity		Management	For	Voted - For
16	Authorise Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
17	Authorise Market Purchase of Ordinary Shares		Management	For	Voted - For
18	Authorise the Company to Call General Meeting with
	Two Weeks' Notice		Management	For	Voted - For
THE CHARLES SCHWAB CORPORATION
Security ID: 808513105		Ticker: SCHW
Meeting Date: 17-May-22		Meeting Type: Annual
1a	Elect Director John K. Adams, Jr.		Management	For	Voted - For
1b	Elect Director Stephen A. Ellis		Management	For	Voted - For
1c	Elect Director Brian M. Levitt		Management	For	Voted - For
1d	Elect Director Arun Sarin		Management	For	Voted - For
1e	Elect Director Charles R. Schwab		Management	For	Voted - For
1f	Elect Director Paula A. Sneed		Management	For	Voted - For
2	Declassify the Board of Directors		Management	For	Voted - For
3	Ratify Deloitte & Touche LLP as Auditors		Management	For	Voted - For
4	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
5	Approve Omnibus Stock Plan		Management	For	Voted - For
6	Provide Proxy Access Right		Management	For	Voted - For
7	Adopt Proxy Access Right		Shareholder	Against	Voted - For
8	Report on Lobbying Payments and Policy		Shareholder	Against	Voted - For
THE ESTEE LAUDER COMPANIES INC.
Security ID: 518439104		Ticker: EL
Meeting Date: 12-Nov-21		Meeting Type: Annual
1a	Elect Director Rose Marie Bravo		Management	For	Voted - For
1b	Elect Director Paul J. Fribourg		Management	For	Voted - For
1c	Elect Director Jennifer Hyman		Management	For	Voted - For
1d	Elect Director Barry S. Sternlicht		Management	For	Voted - Withheld
2	Ratify PricewaterhouseCoopers LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For

67

		Ninety One Global Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
VERISIGN, INC.
Security ID: 92343E102		Ticker: VRSN
Meeting Date: 26-May-22		Meeting Type: Annual
1.1	Elect Director D. James Bidzos		Management	For	Voted - For
1.2	Elect Director Courtney D. Armstrong		Management	For	Voted - For
1.3	Elect Director Yehuda Ari Buchalter		Management	For	Voted - For
1.4	Elect Director Kathleen A. Cote		Management	For	Voted - For
1.5	Elect Director Thomas F. Frist, III		Management	For	Voted - For
1.6	Elect Director Jamie S. Gorelick		Management	For	Voted - For
1.7	Elect Director Roger H. Moore		Management	For	Voted - Against
1.8	Elect Director Timothy Tomlinson		Management	For	Voted - Against
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify KPMG LLP as Auditors		Management	For	Voted - For
4	Eliminate Holding Period for Shareholders to Call
	Special Meeting		Shareholder	Against	Voted - Against
VISA INC.
Security ID: 92826C839		Ticker: V
Meeting Date: 25-Jan-22		Meeting Type: Annual
1a	Elect Director Lloyd A. Carney		Management	For	Voted - For
1b	Elect Director Mary B. Cranston		Management	For	Voted - For
1c	Elect Director Francisco Javier Fernandez-Carbajal		Management	For	Voted - For
1d	Elect Director Alfred F. Kelly, Jr.		Management	For	Voted - For
1e	Elect Director Ramon Laguarta		Management	For	Voted - For
1f	Elect Director John F. Lundgren		Management	For	Voted - For
1g	Elect Director Robert W. Matschullat		Management	For	Voted - For
1h	Elect Director Denise M. Morrison		Management	For	Voted - For
1i	Elect Director Linda J. Rendle		Management	For	Voted - For
1j	Elect Director Maynard G. Webb, Jr.		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify KPMG LLP as Auditors		Management	For	Voted - For

68

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
ANSYS, INC.
Security ID: 03662Q105		Ticker: ANSS
Meeting Date: 12-May-22		Meeting Type: Annual
1A	Elect Director Anil Chakravarthy		Management	For	Voted - For
1B	Elect Director Barbara V. Scherer		Management	For	Voted - For
1C	Elect Director Ravi K. Vijayaraghavan		Management	For	Voted - For
2	Ratify Deloitte & Touche LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
4	Eliminate Supermajority Vote Requirement to Remove
	a Director		Management	For	Voted - For
5	Eliminate Supermajority Vote Requirement to Amend
	or Repeal the By-Laws		Management	For	Voted - For
6	Eliminate Supermajority Vote Requirement to Amend
	or Repeal Certain Provisions of the Charter		Management	For	Voted - For
7	Approve Qualified Employee Stock Purchase Plan		Management	For	Voted - For
8	Declassify the Board of Directors		Shareholder	Against	Voted - For
APTIV PLC
Security ID: G6095L109		Ticker: APTV
Meeting Date: 27-Apr-22		Meeting Type: Annual
1a	Elect Director Kevin P. Clark		Management	For	Voted - For
1b	Elect Director Richard L. Clemmer		Management	For	Voted - For
1c	Elect Director Nancy E. Cooper		Management	For	Voted - For
1d	Elect Director Joseph L. Hooley		Management	For	Voted - For
1e	Elect Director Merit E. Janow		Management	For	Voted - For
1f	Elect Director Sean O. Mahoney		Management	For	Voted - For
1g	Elect Director Paul M. Meister		Management	For	Voted - For
1h	Elect Director Robert K. Ortberg		Management	For	Voted - For
1i	Elect Director Colin J. Parris		Management	For	Voted - For
1j	Elect Director Ana G. Pinczuk		Management	For	Voted - For
2	Approve Ernst & Young LLP as Auditors and Authorize
	Board to Fix Their Remuneration		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
AUTODESK, INC.
Security ID: 052769106		Ticker: ADSK
Meeting Date: 16-Jun-22		Meeting Type: Annual
1a	Elect Director Andrew Anagnost		Management	For	Voted - For
1b	Elect Director Karen Blasing		Management	For	Voted - For

69

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
1c	Elect Director Reid French		Management	For	Voted - For
1d	Elect Director Ayanna Howard		Management	For	Voted - For
1e	Elect Director Blake Irving		Management	For	Voted - For
1f	Elect Director Mary T. McDowell		Management	For	Voted - For
1g	Elect Director Stephen Milligan		Management	For	Voted - For
1h	Elect Director Lorrie M. Norrington		Management	For	Voted - For
1i	Elect Director Betsy Rafael		Management	For	Voted - For
1j	Elect Director Stacy J. Smith		Management	For	Voted - For
2	Ratify Ernst & Young LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
4	Approve Omnibus Stock Plan		Management	For	Voted - For
BEYOND MEAT, INC.
Security ID: 08862E109		Ticker: BYND
Meeting Date: 24-May-22		Meeting Type: Annual
1.1	Elect Director Ethan Brown		Management	For	Voted - For
1.2	Elect Director Colleen Jay		Management	For	Voted - For
1.3	Elect Director Raymond J. Lane		Management	For	Voted - Withheld
2	Ratify Deloitte & Touche LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - Against
BRAMBLES LIMITED
Security ID: Q6634U106 Ticker: BXB
Meeting Date: 19-Oct-21		Meeting Type: Annual
2	Approve Remuneration Report		Management	For	Voted - For
3	Elect Elizabeth Fagan as Director		Management	For	Voted - For
4	Elect Scott Perkins as Director		Management	For	Voted - For
5	Approve Participation of Graham Chipchase in the
	Performance Share Plan		Management	For	Voted - For
6	Approve Participation of Nessa O'Sullivan in the
	Performance Share Plan		Management	For	Voted - For
7	Approve Extension of On-Market Share Buy-Backs		Management	For	Voted - For
8	***Withdrawn Resolution*** Approve the Amendments
	to the Company's Constitution		Management	For	Non-Voting
CRODA INTERNATIONAL PLC
Security ID: G25536155		Ticker: CRDA
Meeting Date: 20-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Remuneration Report		Management	For	Voted - For

70

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3	Approve Final Dividend		Management	For	Voted - For
4	Re-elect Roberto Cirillo as Director		Management	For	Voted - For
5	Re-elect Jacqui Ferguson as Director		Management	For	Voted - For
6	Re-elect Steve Foots as Director		Management	For	Voted - For
7	Re-elect Anita Frew as Director		Management	For	Voted - For
8	Re-elect Helena Ganczakowski as Director		Management	For	Voted - For
9	Elect Julie Kim as Director		Management	For	Voted - For
10	Re-elect Keith Layden as Director		Management	For	Voted - For
11	Re-elect Jez Maiden as Director		Management	For	Voted - For
12	Elect Nawal Ouzren as Director		Management	For	Voted - For
13	Re-elect John Ramsay as Director		Management	For	Voted - For
14	Reappoint KPMG LLP as Auditors		Management	For	Voted - For
15	Authorise the Audit Committee to Fix Remuneration
	of Auditors		Management	For	Voted - For
16	Authorise UK Political Donations and Expenditure		Management	For	Voted - For
17	Authorise Issue of Equity		Management	For	Voted - For
18	Authorise Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
19	Authorise Issue of Equity without Pre-emptive
	Rights in Connection with an Acquisition or Other
	Capital Investment		Management	For	Voted - For
20	Authorise Market Purchase of Ordinary Shares		Management	For	Voted - For
21	Authorise the Company to Call General Meeting with
	Two Weeks' Notice		Management	For	Voted - For
IBERDROLA SA
Security ID: E6165F166		Ticker: IBE
Meeting Date: 16-Jun-22		Meeting Type: Annual
1	Approve Consolidated and Standalone Financial
	Statements		Management	For	Voted - For
2	Approve Consolidated and Standalone Management
	Reports		Management	For	Voted - For
3	Approve Non-Financial Information Statement		Management	For	Voted - For
4	Approve Discharge of Board		Management	For	Voted - For
5	Renew Appointment of KPMG Auditores as Auditor		Management	For	Voted - For
6	Amend Preamble and Article 7 Re: Company's Purpose,
	Values and Social Dividend		Management	For	Voted - For
7	Amend Article 16 Re: Engagement Dividend		Management	For	Voted - For
8	Amend Article 11 of General Meeting Regulations Re:
	Engagement Dividend		Management	For	Voted - For
9	Approve Engagement Dividend		Management	For	Voted - For
10	Approve Allocation of Income and Dividends		Management	For	Voted - For
11	Approve Scrip Dividends		Management	For	Voted - For
12	Approve Scrip Dividends		Management	For	Voted - For
13	Approve Reduction in Share Capital via Amortization
	of Treasury Shares		Management	For	Voted - For
14	Advisory Vote on Remuneration Report		Management	For	Voted - Against
15	Reelect Anthony L. Gardner as Director		Management	For	Voted - For

71

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
16	Ratify Appointment of and Elect Maria Angeles
	Alcala Diaz as Director		Management	For	Voted - For
17	Ratify Appointment of and Elect Isabel Garcia
	Tejerina as Director		Management	For	Voted - For
18	Fix Number of Directors at 14		Management	For	Voted - For
19	Authorize Share Repurchase Program		Management	For	Voted - For
20	Authorize Board to Ratify and Execute Approved
	Resolutions		Management	For	Voted - For
INFINEON TECHNOLOGIES AG
Security ID: D35415104		Ticker: IFX
Meeting Date: 17-Feb-22		Meeting Type: Annual
1	Receive Financial Statements and Statutory Reports
	for Fiscal Year 2021 (Non-Voting)		Management	For	Non-Voting
2	Approve Allocation of Income and Dividends of EUR
	0.27 per Share		Management	For	Voted - For
3.1	Approve Discharge of Management Board Member
	Reinhard Ploss for Fiscal Year 2021		Management	For	Voted - For
3.2	Approve Discharge of Management Board Member Helmut
	Gassel for Fiscal Year 2021		Management	For	Voted - For
3.3	Approve Discharge of Management Board Member Jochen
	Hanebeck for Fiscal Year 2021		Management	For	Voted - For
3.4	Approve Discharge of Management Board Member
	Constanze Hufenbecher (from April 15, 2021) for
	Fiscal Year 2021		Management	For	Voted - For
3.5	Approve Discharge of Management Board Member Sven
	Schneider for Fiscal Year 2021		Management	For	Voted - For
4.1	Approve Discharge of Supervisory Board Member
	Wolfgang Eder for Fiscal Year 2021		Management	For	Voted - For
4.2	Approve Discharge of Supervisory Board Member
	Xiaoqun Clever for Fiscal Year 2021		Management	For	Voted - For
4.3	Approve Discharge of Supervisory Board Member
	Johann Dechant for Fiscal Year 2021		Management	For	Voted - For
4.4	Approve Discharge of Supervisory Board Member
	Friedrich Eichiner for Fiscal Year 2021		Management	For	Voted - For
4.5	Approve Discharge of Supervisory Board Member
	Annette Engelfried for Fiscal Year 2021		Management	For	Voted - For
4.6	Approve Discharge of Supervisory Board Member Peter
	Gruber for Fiscal Year 2021		Management	For	Voted - For
4.7	Approve Discharge of Supervisory Board Member
	Hans-Ulrich Holdenried for Fiscal Year 2021		Management	For	Voted - For
4.8	Approve Discharge of Supervisory Board Member
	Susanne Lachenmann for Fiscal Year 2021		Management	For	Voted - For
4.9	Approve Discharge of Supervisory Board Member
	Geraldine Picaud for Fiscal Year 2021		Management	For	Voted - For
4.10	Approve Discharge of Supervisory Board Member
	Manfred Puffer for Fiscal Year 2021		Management	For	Voted - For
4.11	Approve Discharge of Supervisory Board Member
	Melanie Riedl for Fiscal Year 2021		Management	For	Voted - For

72

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
4.12	Approve Discharge of Supervisory Board Member
	Juergen Scholz for Fiscal Year 2021		Management	For	Voted - For
4.13	Approve Discharge of Supervisory Board Member
	Kerstin Schulzendorf for Fiscal Year 2021		Management	For	Voted - For
4.14	Approve Discharge of Supervisory Board Member
	Ulrich Spiesshofer for Fiscal Year 2021		Management	For	Voted - For
4.15	Approve Discharge of Supervisory Board Member
	Margret Suckale for Fiscal Year 2021		Management	For	Voted - For
4.16	Approve Discharge of Supervisory Board Member Diana
	Vitale for Fiscal Year 2021		Management	For	Voted - For
5	Ratify KPMG AG as Auditors for Fiscal Year 2022		Management	For	Voted - For
6	Elect Geraldine Picaud to the Supervisory Board		Management	For	Voted - For
NEXTERA ENERGY, INC.
Security ID: 65339F101		Ticker: NEE
Meeting Date: 19-May-22		Meeting Type: Annual
1a	Elect Director Sherry S. Barrat		Management	For	Voted - Against
1b	Elect Director James L. Camaren		Management	For	Voted - Against
1c	Elect Director Kenneth B. Dunn		Management	For	Voted - Against
1d	Elect Director Naren K. Gursahaney		Management	For	Voted - For
1e	Elect Director Kirk S. Hachigian		Management	For	Voted - For
1f	Elect Director John W. Ketchum		Management	For	Voted - For
1g	Elect Director Amy B. Lane		Management	For	Voted - For
1h	Elect Director David L. Porges		Management	For	Voted - For
1i	Elect Director James L. Robo		Management	For	Voted - For
1j	Elect Director Rudy E. Schupp		Management	For	Voted - Against
1k	Elect Director John L. Skolds		Management	For	Voted - For
1l	Elect Director John Arthur Stall		Management	For	Voted - For
1m	Elect Director Darryl L. Wilson		Management	For	Voted - For
2	Ratify Deloitte & Touche LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
4	Disclose a Board Diversity and Qualifications Matrix		Shareholder	Against	Voted - Against
5	Report on Effectiveness of Diversity, Equity and
	Inclusion Efforts and Metrics		Shareholder	Against	Voted - For
NIPPON CERAMIC CO., LTD.
Security ID: J52344108		Ticker: 6929
Meeting Date: 25-Mar-22		Meeting Type: Annual
1	Amend Articles to Disclose Shareholder Meeting
	Materials on Internet		Management	For	Voted - For
2.1	Elect Director Taniguchi, Shinichi		Management	For	Voted - For
2.2	Elect Director Fujiwara, Eiki		Management	For	Voted - For
2.3	Elect Director Kawasaki, Haruko		Management	For	Voted - For

73

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3.1	Elect Director and Audit Committee Member Ichikawa,
	Kazuhito		Management	For	Voted - For
3.2	Elect Director and Audit Committee Member Tamura,
	Yasuaki		Management	For	Voted - Against
3.3	Elect Director and Audit Committee Member Seko,
	Tomoaki		Management	For	Voted - For
3.4	Elect Director and Audit Committee Member Ikehara,
	Koichi		Management	For	Voted - For
NOVOZYMES A/S
Security ID: K7317J133		Ticker: NZYM.B
Meeting Date: 16-Mar-22		Meeting Type: Annual
1	Receive Report of Board		Management	For	Non-Voting
2	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
3	Approve Allocation of Income and Dividends of DKK
	5.50 Per Share		Management	For	Voted - For
4	Approve Remuneration Report		Management	For	Voted - For
5	Approve Remuneration of Directors in the Amount of
	DKK 1.56 Million for Chairman, DKK1.04 Million for
	Vice Chairman and DKK 522,000 for Other Directors;
	ApproveRemuneration for Committee Work		Management	For	Voted - For
6	Reelect Jorgen Buhl Rasmussen (Chair) as Director		Management	For	Voted - For
7	Reelect Cornelis de Jong (Vice Chair) as Director		Management	For	Voted - For
8a	Reelect Heine Dalsgaard as Director		Management	For	Voted - For
8b	Elect Sharon James as Director		Management	For	Voted - For
8c	Reelect Kasim Kutay as Director		Management	For	Voted - For
8d	Reelect Kim Stratton as Director		Management	For	Voted - For
8e	Elect Morten Otto Alexander Sommer as New Director		Management	For	Voted - For
9	Ratify PricewaterhouseCoopers as Auditors		Management	For	Voted - For
10a	Approve Creation of DKK 56.2 Million Pool of
	Capital in B Shares without Preemptive Rights; DKK
	56.2 Million Pool of Capital with Preemptive
	Rights; and Pool of Capital in Warrants without
	Preemptive Rights		Management	For	Voted - For
10b	Approve DKK 6 Million Reduction in Share Capital
	via Share Cancellation		Management	For	Voted - For
10c	Authorize Share Repurchase Program		Management	For	Voted - For
10d	Authorize Board to Decide on the Distribution of
	Extraordinary Dividends		Management	For	Voted - For
10e	Amend Articles Re: Board-Related		Management	For	Voted - For
10f	Amend Articles		Management	For	Voted - For
10g	Authorize Editorial Changes to Adopted Resolutions
	in Connection with Registration with Danish
	Authorities		Management	For	Voted - For
11	Other Business		Management	For	Non-Voting

74

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
ORSTED A/S
Security ID: K7653Q105 Ticker: ORSTED
Meeting Date: 08-Apr-22		Meeting Type: Annual
1	Receive Report of Board		Management	For	Non-Voting
2	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
3	Approve Remuneration Report (Advisory Vote)		Management	For	Voted - For
4	Approve Discharge of Management and Board		Management	For	Voted - For
5	Approve Allocation of Income and Dividends of DKK
	12.50 Per Share		Management	For	Voted - For
6	Authorize Share Repurchase Program (No Proposal
	Submitted)		Management	For	Non-Voting
7.1	Approve Guidelines for Incentive-Based Compensation
	for Executive Management and Board		Management	For	Voted - For
7.2	Employees of all the Company Foreign Subsidiaries
	are Eligible to be Electedand Entitled to Vote at
	Elections of Group Representatives to the Board of
	Directors		Management	For	Voted - For
7.3	Approve on Humanitarian Donation to the Ukrainian
	People		Management	For	Voted - For
7.4	Approve Creation of DKK 840.1 Million Pool of
	Capital without Preemptive Rights		Management	For	Voted - For
7.5	Authorize Editorial Changes to Adopted Resolutions
	in Connection with Registration with Danish
	Authorities		Management	For	Voted - For
8	Other Proposals from Shareholders (None Submitted)		Management	For	Non-Voting
9.1	Reelect Thomas Thune Andersen (Chair) as Director		Management	For	Voted - For
9.2	Reelect Lene Skole (Vice Chair) as Director		Management	For	Voted - For
9.3.a Reelect Lynda Armstrong as Director			Management	For	Voted - For
9.3.b Reelect Jorgen Kildah as Director			Management	For	Voted - For
9.3.c Reelect Peter Korsholm as Director			Management	For	Voted - For
9.3.d Reelect Dieter Wemmer as Director			Management	For	Voted - For
9.3.e Reelect Julia King as Director			Management	For	Voted - For
9.3.f Reelect Henrik Poulsen as Director			Management	For	Voted - For
10	Approve Remuneration of Directors in the Amount of
	DKK 1.2 Million for Chairman, DKK 800,000 for
	Deputy Chairman and DKK 400,000 for Other
	Directors; Approve Remuneration for Committee Work		Management	For	Voted - For
11	Ratify PricewaterhouseCoopers as Auditor		Management	For	Voted - For
12	Other Business		Management	For	Non-Voting
SCHNEIDER ELECTRIC SE
Security ID: F86921107		Ticker: SU
Meeting Date: 05-May-22		Meeting Type: Annual/Special
	Ordinary Business		Management	For	Non-Voting
1	Approve Financial Statements and Statutory Reports		Management	For	Voted - For

75

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
2	Approve Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Approve Allocation of Income and Dividends of EUR
	2.90 per Share		Management	For	Voted - For
4	Approve Auditors' Special Report on Related-Party
	Transactions Mentioning the Absence of New
	Transactions		Management	For	Voted - For
5	Renew Appointment of Mazars as Auditor		Management	For	Voted - For
6	Appoint PricewaterhouseCoopers Audit as Auditor		Management	For	Voted - For
7	Approve Compensation Report of Corporate Officers		Management	For	Voted - For
8	Approve Compensation of Jean-Pascal Tricoire,
	Chairman and CEO		Management	For	Voted - For
9	Approve Remuneration Policy of Chairman and CEO		Management	For	Voted - For
10	Approve Remuneration Policy of Directors		Management	For	Voted - For
11	Reelect Linda Knoll as Director		Management	For	Voted - For
12	Reelect Anders Runevad as Director		Management	For	Voted - For
13	Elect Nivedita Krishnamurthy (Nive) Bhagat as
	Director		Management	For	Voted - For
14	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - For
	Extraordinary Business		Management	For	Non-Voting
15	Authorize up to 2 Percent of Issued Capital for Use
	in Restricted Stock Plans		Management	For	Voted - For
16	Authorize Capital Issuances for Use in Employee
	Stock Purchase Plans		Management	For	Voted - For
17	Authorize Capital Issuances for Use in Employee
	Stock Purchase Plans Reserved for Employees of
	International Subsidiaries		Management	For	Voted - For
18	Approve Merger by Absorption of IGE+XAO by Schneider		Management	For	Voted - For
	Ordinary Business		Management	For	Non-Voting
19	Authorize Filing of Required Documents/Other
	Formalities		Management	For	Voted - For
SUNGROW POWER SUPPLY CO., LTD.
Security ID: Y8211M102 Ticker: 300274
Meeting Date: 18-May-22		Meeting Type: Annual
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For
3	Approve Financial Statements		Management	For	Voted - For
4	Approve Annual Report and Summary		Management	For	Voted - For
5	Approve Profit Distribution		Management	For	Voted - For
6	Approve to Appoint Auditor		Management	For	Voted - For
7	Approve Repurchase and Cancellation of Performance
	Shares		Management	For	Voted - For
8	Approve Provision of Guarantees		Management	For	Voted - For
9	Approve Application of Credit Line		Management	For	Voted - Against
10	Approve Remuneration of Directors, Supervisors and
	Senior Management Members		Management	For	Voted - For

76

Ninety One Global Environment Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
11	Approve Foreign Exchange Hedging Business		Management	For	Voted - For
12	Approve Issuing of Letter of Guarantee		Management	For	Voted - For
13	Approve Financial Assistance Provision		Management	For	Voted - For
14	Approve Amendments to Articles of Association		Management	For	Voted - For
15	Approve Removal of Liu Zhen		Shareholder	For	Voted - For
16	Elect Gu Yilei as Non-Independent Director		Shareholder	For	Voted - For
Meeting Date: 30-May-22		Meeting Type: Special
1	Approve Draft and Summary of Performance Shares
	Incentive Plan		Management	For	Voted - For
2	Approve Methods to Assess the Performance of Plan
	Participants		Management	For	Voted - For
3	Approve Authorization of the Board to Handle All
	Related Matters		Management	For	Voted - For
TE CONNECTIVITY LTD.
Security ID: H84989104		Ticker: TEL
Meeting Date: 09-Mar-22		Meeting Type: Annual
1a	Elect Director Terrence R. Curtin		Management	For	Voted - For
1b	Elect Director Carol A. (John) Davidson		Management	For	Voted - For
1c	Elect Director Lynn A. Dugle		Management	For	Voted - For
1d	Elect Director William A. Jeffrey		Management	For	Voted - For
1e	Elect Director Syaru Shirley Lin		Management	For	Voted - For
1f	Elect Director Thomas J. Lynch		Management	For	Voted - For
1g	Elect Director Heath A. Mitts		Management	For	Voted - For
1h	Elect Director Yong Nam		Management	For	Voted - For
1i	Elect Director Abhijit Y. Talwalkar		Management	For	Voted - For
1j	Elect Director Mark C. Trudeau		Management	For	Voted - For
1k	Elect Director Dawn C. Willoughby		Management	For	Voted - For
1l	Elect Director Laura H. Wright		Management	For	Voted - For
2	Elect Board Chairman Thomas J. Lynch		Management	For	Voted - For
3a	Elect Abhijit Y. Talwalkar as Member of Management
	Development and Compensation Committee		Management	For	Voted - For
3b	Elect Mark C. Trudeau as Member of Management
	Development and Compensation Committee		Management	For	Voted - For
3c	Elect Dawn C. Willoughby as Member of Management
	Development and Compensation Committee		Management	For	Voted - For
4	Designate Rene Schwarzenbach as Independent Proxy		Management	For	Voted - For
5.1	Accept Annual Report for Fiscal Year Ended
	September 24, 2021		Management	For	Voted - For
5.2	Accept Statutory Financial Statements for Fiscal
	Year Ended September 24, 2021		Management	For	Voted - For
5.3	Approve Consolidated Financial Statements for
	Fiscal Year Ended September 24, 2021		Management	For	Voted - For
6	Approve Discharge of Board and Senior Management		Management	For	Voted - For

77

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
7.1	Ratify Deloitte & Touche LLP as Independent
	Registered Public Accounting Firm for Fiscal Year
	2022		Management	For	Voted - For
7.2	Ratify Deloitte AG as Swiss Registered Auditors		Management	For	Voted - For
7.3	Ratify PricewaterhouseCoopers AG as Special Auditors		Management	For	Voted - For
8	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
9	Approve Remuneration of Executive Management in the
	Amount of USD 49.9 Million		Management	For	Voted - For
10	Approve Remuneration of Board of Directors in the
	Amount of USD 4 Million		Management	For	Voted - For
11	Approve Allocation of Available Earnings at
	September 24, 2021		Management	For	Voted - For
12	Approve Declaration of Dividend		Management	For	Voted - For
13	Authorize Share Repurchase Program		Management	For	Voted - For
14	Approve Renewal of Authorized Capital		Management	For	Voted - Against
15	Approve Reduction in Share Capital via Cancelation
	of Shares		Management	For	Voted - For
16	Adjourn Meeting		Management	For	Voted - Against
TERNA RETE ELETTRICA NAZIONALE SPA
Security ID: T9471R100		Ticker: TRN
Meeting Date: 29-Apr-22		Meeting Type: Annual
	Ordinary Business		Management	For	Non-Voting
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Allocation of Income		Management	For	Voted - For
3	Elect Qinjing Shen as Director and Approve
	Director's Remuneration		Management	For	Voted - For
4	Approve Long-Term Incentive Plan		Management	For	Voted - Against
5	Authorize Share Repurchase Program and Reissuance
	of Repurchased Shares		Management	For	Voted - For
6.1	Approve Remuneration Policy		Management	For	Voted - For
6.2	Approve Second Section of the Remuneration Report		Management	For	Voted - For
A	Deliberations on Possible Legal Action Against
	Directors if Presented by Shareholders		Management	None	Voted - Abstain
TRANE TECHNOLOGIES PLC
Security ID: G8994E103 Ticker: TT
Meeting Date: 02-Jun-22		Meeting Type: Annual
1a	Elect Director Kirk E. Arnold		Management	For	Voted - For
1b	Elect Director Ann C. Berzin		Management	For	Voted - Against
1c	Elect Director April Miller Boise		Management	For	Voted - For
1d	Elect Director John Bruton		Management	For	Voted - Against
1e	Elect Director Jared L. Cohon		Management	For	Voted - For
1f	Elect Director Gary D. Forsee		Management	For	Voted - For

78

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
1g	Elect Director Linda P. Hudson		Management	For	Voted - For
1h	Elect Director Myles P. Lee		Management	For	Voted - For
1i	Elect Director David S. Regnery		Management	For	Voted - For
1j	Elect Director John P. Surma		Management	For	Voted - For
1k	Elect Director Tony L. White		Management	For	Voted - Against
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Approve PricewaterhouseCoopers LLP as Auditors and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
4	Authorize Issue of Equity		Management	For	Voted - For
5	Authorize Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
6	Authorize Reissuance of Repurchased Shares		Management	For	Voted - For
VESTAS WIND SYSTEMS A/S
Security ID: K9773J201		Ticker: VWS
Meeting Date: 05-Apr-22		Meeting Type: Annual
1	Receive Report of Board		Management	For	Non-Voting
2	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
3	Approve Allocation of Income and Dividends of DKK
	0.37 Per Share		Management	For	Voted - For
4	Approve Remuneration Report (Advisory Vote)		Management	For	Voted - For
5	Approve Remuneration of Directors in the Amount of
	DKK 1.365 Million for Chairman, DKK 910,350 for
	Vice Chairman and DKK 455,175 for Other Directors;
	Approve Remuneration for Committee Work		Management	For	Voted - For
6.a	Reelect Anders Runevad as Director		Management	For	Voted - For
6.b	Reelect Bert Nordberg as Director		Management	For	Voted - For
6.c	Reelect Bruce Grant as Director		Management	For	Voted - For
6.d	Reelect Eva Merete Sofelde Berneke as Director		Management	For	Voted - For
6.e	Reelect Helle Thorning-Schmidt as Director		Management	For	Voted - For
6.f	Reelect Karl-Henrik Sundstrom as Director		Management	For	Voted - For
6.g	Reelect Kentaro Hosomi as Director		Management	For	Voted - For
6.h	Elect Lena Olving as New Director		Management	For	Voted - For
7	Ratify PricewaterhouseCoopers as Auditors		Management	For	Voted - Abstain
8	Authorize Share Repurchase Program		Management	For	Voted - For
9	Authorize Editorial Changes to Adopted Resolutions
	in Connection with Registration with Danish
	Authorities		Management	For	Voted - For
10	Other Business		Management	For	Non-Voting
VOLTRONIC POWER TECHNOLOGY CORP.
Security ID: Y937BE103 Ticker: 6409
Meeting Date: 17-Jun-22		Meeting Type: Annual
1	Approve Business Operations Report and Financial
	Statements		Management	For	Voted - For

79

		Ninety One Global Environment Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
2	Approve Profit Distribution		Management	For	Voted - For
3	Approve Issuance of Restricted Stocks		Management	For	Voted - For
4	Amend Procedures Governing the Acquisition or
	Disposal of Assets		Management	For	Voted - For
WASTE MANAGEMENT, INC.
Security ID: 94106L109		Ticker: WM
Meeting Date: 10-May-22		Meeting Type: Annual
1a	Elect Director James C. Fish, Jr.		Management	For	Voted - For
1b	Elect Director Andres R. Gluski		Management	For	Voted - For
1c	Elect Director Victoria M. Holt		Management	For	Voted - For
1d	Elect Director Kathleen M. Mazzarella		Management	For	Voted - For
1e	Elect Director Sean E. Menke		Management	For	Voted - For
1f	Elect Director William B. Plummer		Management	For	Voted - For
1g	Elect Director John C. Pope		Management	For	Voted - Against
1h	Elect Director Maryrose T. Sylvester		Management	For	Voted - For
1i	Elect Director Thomas H. Weidemeyer		Management	For	Voted - For
2	Ratify Ernst & Young LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - Against
4	Report on Civil Rights Audit		Shareholder	Against	Voted - For
WUXI LEAD INTELLIGENT EQUIPMENT CO., LTD.
Security ID: Y9717H100		Ticker: 300450
Meeting Date: 08-Oct-21		Meeting Type: Special
1	Approve Draft and Summary of Performance Shares
	Incentive Plan		Management	For	Voted - For
2	Approve Methods to Assess the Performance of Plan
	Participants		Management	For	Voted - For
3	Approve Authorization of the Board to Handle All
	Related Matters		Management	For	Voted - For
Meeting Date: 15-Nov-21		Meeting Type: Special
1	Approve Related Party Transaction		Management	For	Voted - For
Meeting Date: 11-Feb-22		Meeting Type: Special
1	Approve Daily Related Party Transactions		Management	For	Voted - For
2	Approve Application of Bank Credit Lines		Management	For	Voted - For
3	Approve Provision of Guarantee		Management	For	Voted - For
4	Approve Forward Foreign Exchange Transactions		Management	For	Voted - For
5	Approve Repurchase and Cancellation of Performance
	Shares		Management	For	Voted - For
6	Approve Change in Registered Capital		Management	For	Voted - For

80

Ninety One Global Environment Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
7	Amend Articles of Association		Management	For	Voted - For
Meeting Date: 30-May-22		Meeting Type: Annual
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For
3	Approve Financial Statements		Management	For	Voted - For
4	Approve Annual Report and Summary		Management	For	Voted - For
5	Approve Profit Distribution		Management	For	Voted - For
6	Approve Capital Occupation by Controlling
	Shareholders and Other Related-parties and
	Provision of External Guarantees		Management	For	Voted - For
7	Approve Remuneration of Directors and Senior
	Management Members		Management	For	Voted - For
8	Approve to Appoint Auditor		Management	For	Voted - For
9	Approve Formulation of Shareholder Return Plan		Management	For	Voted - For
10	Amend Articles of Association		Management	For	Voted - Abstain
11	Approve Authorization of Board to Handle All
	Related Matters Regarding Small and Fast Financing		Management	For	Voted - For
12	Approve Repurchase and Cancellation of Performance
	Shares		Shareholder	For	Voted - For
13	Approve Change Registered Capital		Shareholder	For	Voted - For
14	Amend Articles of Association (II)		Shareholder	For	Voted - For
15	Elect Dai Jianjun as Independent Director		Shareholder	For	Voted - For
XINYI SOLAR HOLDINGS LIMITED
Security ID: G9829N102 Ticker: 968
Meeting Date: 02-Jun-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3A1	Elect Li Man Yin as Director		Management	For	Voted - For
3A2	Elect Lo Wan Sing, Vincent as Director		Management	For	Voted - For
3A3	Elect Kan E-ting, Martin as Director		Management	For	Voted - For
3B	Authorize Board to Fix Remuneration of Directors		Management	For	Voted - For
4	Approve PricewaterhouseCoopers as Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
5A	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For
5B	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - Against
5C	Authorize Reissuance of Repurchased Shares		Management	For	Voted - Against
6	Elect Leong Chong Peng as Director		Management	For	Voted - For

81

Ninety One Global Environment Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
ZHEJIANG SANHUA INTELLIGENT CONTROLS CO., LTD.
Security ID: Y9890L126		Ticker: 002050
Meeting Date: 16-Nov-21		Meeting Type: Special
1	Approve Amendments to Articles of Association		Management	For	Voted - For
2	Approve Repurchase and Cancellation of Performance
	Shares		Management	For	Voted - For
Meeting Date: 26-Jan-22		Meeting Type: Special
	ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE
	VOTING		Management	For	Non-Voting
1.1	Elect Zhang Yabo as Director		Management	For	Voted - Against
1.2	Elect Ren Jintu as Director		Management	For	Voted - For
1.3	Elect Wang Dayong as Director		Management	For	Voted - For
1.4	Elect Ni Xiaoming as Director		Management	For	Voted - For
1.5	Elect Chen Yuzhong as Director		Management	For	Voted - For
1.6	Elect Zhang Shaobo as Director		Management	For	Voted - For
	ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING			Management	For	Non-Voting
2.1	Elect Bao Ensi as Director		Management	For	Voted - For
2.2	Elect Shi Jianhui as Director		Management	For	Voted - For
2.3	Elect Pan Yalan as Director		Management	For	Voted - For
	ELECT SUPERVISORS VIA CUMULATIVE VOTING		Management	For	Non-Voting
3.1	Elect Zhao Yajun as Supervisor		Management	For	Voted - For
3.2	Elect Mo Yang as Supervisor		Management	For	Voted - For
4	Approve Remuneration and Allowance of Directors		Management	For	Voted - For
5	Approve Remuneration and Allowance of Supervisors		Management	For	Voted - For
Meeting Date: 15-Apr-22		Meeting Type: Annual
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For
3	Approve Financial Statements		Management	For	Voted - For
4	Approve Annual Report and Summary		Management	For	Voted - For
5	Approve Profit Distribution		Management	For	Voted - For
6	Approve Application of Bank Credit Lines		Management	For	Voted - For
7	Approve Bill Pool Business		Management	For	Voted - For
8	Approve Provision of Guarantees		Management	For	Voted - For
9	Approve to Appoint Auditor		Management	For	Voted - Abstain
10	Approve Futures Hedging Business		Management	For	Voted - For
11	Approve Foreign Exchange Hedging Business		Management	For	Voted - For
12	Approve Purchase of Liability Insurance for
	Directors, Supervisors and Senior Management Members		Management	For	Voted - For
Meeting Date: 25-May-22		Meeting Type: Special
1	Approve Repurchase and Cancellation of Performance
	Shares		Management	For	Voted - For

82

Ninety One Global Environment Fund

Proposal		Proposed by	Mgt. Position	Registrant Voted
2	Amend Articles of Association	Management	For	Voted - For
3	Approve Draft and Summary of Performance Shares
	Incentive Plan	Management	For	Voted - For
4	Approve Draft and Summary of Share Appreciation
	Rights Incentive Plan	Management	For	Voted - For
5	Approve Methods to Assess the Performance of Plan
	Participants	Management	For	Voted - Against
6	Approve Authorization of the Board to Handle All
	Related Matters	Management	For	Voted - Against

83

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
ACCENTURE PLC
Security ID: G1151C101 Ticker: ACN
Meeting Date: 26-Jan-22		Meeting Type: Annual
1a	Elect Director Jaime Ardila		Management	For	Voted - For
1b	Elect Director Nancy McKinstry		Management	For	Voted - For
1c	Elect Director Beth E. Mooney		Management	For	Voted - For
1d	Elect Director Gilles C. Pelisson		Management	For	Voted - For
1e	Elect Director Paula A. Price		Management	For	Voted - For
1f	Elect Director Venkata (Murthy) Renduchintala		Management	For	Voted - For
1g	Elect Director Arun Sarin		Management	For	Voted - For
1h	Elect Director Julie Sweet		Management	For	Voted - For
1i	Elect Director Frank K. Tang		Management	For	Voted - For
1j	Elect Director Tracey T. Travis		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Amend Omnibus Stock Plan		Management	For	Voted - For
4	Approve KPMG LLP as Auditors and Authorize Board to
	Fix Their Remuneration		Management	For	Voted - For
5	Renew the Board's Authority to Issue Shares Under
	Irish Law		Management	For	Voted - For
6	Authorize Board to Opt-Out of Statutory Pre-Emption
	Rights		Management	For	Voted - For
7	Determine Price Range for Reissuance of Treasury
	Shares		Management	For	Voted - For
AIA GROUP LIMITED
Security ID: Y002A1105		Ticker: 1299
Meeting Date: 19-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Elect Sun Jie (Jane) as Director		Management	For	Voted - For
4	Elect George Yong-Boon Yeo as Director		Management	For	Voted - For
5	Elect Swee-Lian Teo as Director		Management	For	Voted - For
6	Elect Narongchai Akrasanee as Director		Management	For	Voted - For
7	Approve PricewaterhouseCoopers as Auditor and
	Authorize Board to Fix Their Remuneration		Management	For	Voted - For
8A	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights		Management	For	Voted - For
8B	Authorize Repurchase of Issued Share Capital		Management	For	Voted - For

84

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
ALCON INC.
Security ID: H01301128		Ticker: ALC
Meeting Date: 27-Apr-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Discharge of Board and Senior Management		Management	For	Voted - For
3	Approve Allocation of Income and Dividends of CHF
	0.20 per Share		Management	For	Voted - For
4.1	Approve Remuneration Report (Non-Binding)		Management	For	Voted - For
4.2	Approve Remuneration of Directors in the Amount of
	CHF 3.6 Million		Management	For	Voted - For
4.3	Approve Remuneration of Executive Committee in the
	Amount of CHF 38.4 Million		Management	For	Voted - For
5.1	Reelect Michael Ball as Director and Board Chair		Management	For	Voted - For
5.2	Reelect Lynn Bleil as Director		Management	For	Voted - For
5.3	Reelect Arthur Cummings as Director		Management	For	Voted - For
5.4	Reelect David Endicott as Director		Management	For	Voted - For
5.5	Reelect Thomas Glanzmann as Director		Management	For	Voted - For
5.6	Reelect Keith Grossman as Director		Management	For	Voted - For
5.7	Reelect Scott Maw as Director		Management	For	Voted - For
5.8	Reelect Karen May as Director		Management	For	Voted - For
5.9	Reelect Ines Poeschel as Director		Management	For	Voted - For
5.10	Reelect Dieter Spaelti as Director		Management	For	Voted - For
5.11	Elect Raquel Bono as Director		Management	For	Voted - For
6.1	Reappoint Thomas Glanzmann as Member of the
	Compensation Committee		Management	For	Voted - For
6.2	Reappoint Karen May as Member of the Compensation
	Committee		Management	For	Voted - For
6.3	Reappoint Ines Poeschel as Member of the
	Compensation Committee		Management	For	Voted - For
6.4	Appoint Scott Maw as Member of the Compensation
	Committee		Management	For	Voted - For
7	Designate Hartmann Dreyer Attorneys-at-Law as
	Independent Proxy		Management	For	Voted - For
8	Ratify PricewaterhouseCoopers SA as Auditors		Management	For	Voted - For
9	Transact Other Business (Voting)		Management	For	Voted - Against
ASML HOLDING NV
Security ID: N07059202		Ticker: ASML
Meeting Date: 29-Apr-22		Meeting Type: Annual
	Annual Meeting Agenda		Management	For	Non-Voting
1	Open Meeting		Management	For	Non-Voting
2	Discuss the Company's Business, Financial Situation
	and Sustainability		Management	For	Non-Voting
3a	Approve Remuneration Report		Management	For	Voted - For
3b	Adopt Financial Statements and Statutory Reports		Management	For	Voted - For

85

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
3c	Receive Explanation on Company's Reserves and
	Dividend Policy		Management	For	Non-Voting
3d	Approve Dividends of EUR 5.50 Per Share		Management	For	Voted - For
4a	Approve Discharge of Management Board		Management	For	Voted - For
4b	Approve Discharge of Supervisory Board		Management	For	Voted - For
5	Approve Number of Shares for Management Board		Management	For	Voted - For
6	Amend Remuneration Policy for Management Board		Management	For	Voted - For
7a	Announce Intention to Reappoint P.T.F.M. Wennink to
	Management Board		Management	For	Non-Voting
7b	Announce Intention to Reappoint M.A. van den Brink
	to Management Board		Management	For	Non-Voting
7c	Announce Intention to Reappoint F.J.M.
	Schneider-Maunoury to Management Board		Management	For	Non-Voting
7d	Announce Intention to Reappoint C.D. Fouquet to
	Management Board		Management	For	Non-Voting
7e	Announce Intention to Reappoint R.J.M. Dassen to
	Management Board		Management	For	Non-Voting
8a	Announce Vacancies on the Supervisory Board		Management	For	Non-Voting
8b	Opportunity to Make Recommendations		Management	For	Non-Voting
8c	Announce Recommendation to Reappoint T.L. Kelly and
	Appoint A.F.M. Everke and A.L. Steegen as Members
	of the Supervisory Board		Management	For	Non-Voting
8d	Reelect T.L. Kelly to Supervisory Board		Management	For	Voted - For
8e	Elect A.F.M. Everke to Supervisory Board		Management	For	Voted - For
8f	Elect A.L. Steegen to Supervisory Board		Management	For	Voted - For
8g	Discuss Composition of the Supervisory Board		Management	For	Non-Voting
9	Ratify KPMG Accountants N.V. as Auditors for the
	Reporting Years 2023 and 2024		Management	For	Voted - For
10	Ratify Deloitte Accountants B.V. as Auditors for
	the Reporting Year 2025		Management	For	Non-Voting
11	Amend Articles of Association		Management	For	Voted - For
12a	Grant Board Authority to Issue Shares Up to 5
	Percent of Issued Capital Plus Additional 5 Percent
	in Case of Merger or Acquisition		Management	For	Voted - For
12b	Authorize Board to Exclude Preemptive Rights from
	Share Issuances		Management	For	Voted - For
13	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - For
14	Authorize Cancellation of Repurchased Shares		Management	For	Voted - For
15	Other Business (Non-Voting)		Management	For	Non-Voting
16	Close Meeting		Management	For	Non-Voting
BEIERSDORF AG
Security ID: D08792109		Ticker: BEI
Meeting Date: 14-Apr-22		Meeting Type: Annual
1	Receive Financial Statements and Statutory Reports
	for Fiscal Year 2021 (Non-Voting)		Management	For	Non-Voting

86

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
2	Approve Allocation of Income and Dividends of EUR
	0.70 per Share		Management	For	Voted - Against
3	Approve Discharge of Management Board for Fiscal
	Year 2021		Management	For	Voted - For
4	Approve Discharge of Supervisory Board for Fiscal
	Year 2021		Management	For	Voted - For
5	Ratify Ernst & Young GmbH as Auditors for Fiscal
	Year 2022		Management	For	Voted - For
6	Approve Remuneration Report		Management	For	Voted - Abstain
CONSTELLATION SOFTWARE INC.
Security ID: 21037X100		Ticker: CSU
Meeting Date: 05-May-22		Meeting Type: Annual/Special
1.1	Elect Director Jeff Bender		Management	For	Voted - For
1.2	Elect Director John Billowits		Management	For	Voted - For
1.3	Elect Director Lawrence Cunningham		Management	For	Voted - For
1.4	Elect Director Susan Gayner		Management	For	Voted - For
1.5	Elect Director Claire Kennedy		Management	For	Voted - For
1.6	Elect Director Robert Kittel		Management	For	Voted - For
1.7	Elect Director Mark Leonard		Management	For	Voted - For
1.8	Elect Director Mark Miller		Management	For	Voted - For
1.9	Elect Director Lori O'Neill		Management	For	Voted - For
1.10	Elect Director Donna Parr		Management	For	Voted - For
1.11	Elect Director Andrew Pastor		Management	For	Voted - For
1.12	Elect Director Dexter Salna		Management	For	Voted - For
1.13	Elect Director Laurie Schultz		Management	For	Voted - For
1.14	Elect Director Barry Symons		Management	For	Voted - For
1.15	Elect Director Robin Van Poelje		Management	For	Voted - For
2	Approve KPMG LLP Auditors and Authorize Board to
	Fix Their Remuneration		Management	For	Voted - For
3	Approve Increase in Size of Board from Fifteen to
	Twenty		Management	For	Voted - For
4	Advisory Vote to Ratify Named Executive Officer's
	Compensation		Management	For	Voted - For
5	SP: Report on Racial Diversity in the Workplace		Shareholder	Against	Voted - For
CSL LIMITED
Security ID: Q3018U109 Ticker: CSL
Meeting Date: 12-Oct-21		Meeting Type: Annual
2a	Elect Brian McNamee as Director		Management	For	Voted - For
2b	Elect Andrew Cuthbertson as Director		Management	For	Voted - For
2c	Elect Alison Watkins as Director		Management	For	Voted - For
2d	Elect Duncan Maskell as Director		Management	For	Voted - For
3	Approve Remuneration Report		Management	For	Voted - For

87

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
4	Approve Grant of Performance Share Units to Paul
	Perreault		Management	For	Voted - Against
5	Approve Renewal of Proportional Takeover Approval
	Provisions in Constitution		Management	For	Voted - For
ESSILORLUXOTTICA SA
Security ID: F31665106		Ticker: EL
Meeting Date: 25-May-22		Meeting Type: Annual/Special
	Ordinary Business		Management	For	Non-Voting
1	Approve Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Approve Treatment of Losses and Dividends of EUR
	2.51 per Share		Management	For	Voted - For
4	Ratify Appointment of Virginie Mercier Pitre as
	Director		Management	For	Voted - For
5	Approve Auditors' Special Report on Related-Party
	Transactions		Management	For	Voted - For
6	Approve Compensation Report of Corporate Officers		Management	For	Voted - For
7	Approve Compensation of Leonardo Del Vecchio,
	Chairman of the Board		Management	For	Voted - For
8	Approve Compensation of Francesco Milleri, CEO		Management	For	Voted - For
9	Approve Compensation of Paul du Saillant, Vice-CEO		Management	For	Voted - For
10	Approve Remuneration Policy of Directors		Management	For	Voted - For
11	Approve Remuneration Policy of Chairman of the Board		Management	For	Voted - For
12	Approve Remuneration Policy of CEO		Management	For	Voted - For
13	Approve Remuneration Policy of Vice-CEO		Management	For	Voted - For
14	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - For
	Extraordinary Business		Management	For	Non-Voting
15	Authorize Decrease in Share Capital via
	Cancellation of Repurchased Shares		Management	For	Voted - For
16	Authorize Filing of Required Documents/Other
	Formalities		Management	For	Voted - For
HANGZHOU TIGERMED CONSULTING CO., LTD.
Security ID: Y3043G118 Ticker: 3347
Meeting Date: 27-Sep-21		Meeting Type: Extraordinary Shareholders
	EGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Partial Repurchase and Cancellation of the
	2019 Restricted A Shares		Management	For	Voted - For
2	Approve Change of Registered Capital		Management	For	Voted - For
3	Amend Articles of Association		Management	For	Voted - For

88

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
Meeting Date: 27-Sep-21		Meeting Type: Special
	CLASS MEETING FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Partial Repurchase and Cancellation of the
	2019 Restricted A Shares		Management	For	Voted - For
2	Approve Change of Registered Capital		Management	For	Voted - For
Meeting Date: 15-Oct-21		Meeting Type: Extraordinary Shareholders
	EGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Elect Wu Hao as Director		Shareholder	For	Voted - For
2	Amend Articles of Association		Management	For	Voted - For
Meeting Date: 20-May-22		Meeting Type: Annual
	AGM BALLOT FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Annual Report		Management	For	Voted - For
2	Approve Report of the Board		Management	For	Voted - For
3	Approve Report of the Supervisory Committee		Management	For	Voted - For
4	Approve Profit Distribution Plan		Management	For	Voted - For
5	Approve Final Financial Report		Management	For	Voted - For
6	Approve BDO China Shu Lun Pan Certified Public
	Accountants LLP as Domestic Auditors and BDO
	Limited as Overseas Auditors		Management	For	Voted - For
7	Approve Application to the Bank for the Integrated
	Credit Facility		Management	For	Voted - For
8	Approve Purchase of Short-Term Bank
	Principal-Guaranteed Wealth Management Products
	with Self-Owned Idle Funds		Management	For	Voted - For
9	Approve Change in Use of Proceeds from H Shares
	Offering		Management	For	Voted - For
10	Approve Adoption of Employee Share Ownership Plan
	and Its Summary		Management	For	Non-Voting
11	Approve Adoption of Administrative Measures for the
	Employee Share Ownership Plan		Management	For	Non-Voting
12	Approve Authorization for the Board to Handle
	Matters in Relation to the Employee Share Ownership
	Plan		Management	For	Non-Voting
13	Approve Adoption of the 2022 Share Appreciation
	Scheme		Management	For	Non-Voting
14	Approve Authorization for the Board to Handle
	Matters in Relation to the 2022 Share Appreciation
	Scheme		Management	For	Non-Voting
15	Approve Partial Repurchase and Cancellation of the
	2019 Restricted A Shares		Management	For	Voted - For
16	Approve Change of Registered Capital		Management	For	Voted - For
17	Amend Articles of Association		Management	For	Voted - For
18	Approve Issuance of Equity or Equity-Linked
	Securities without Preemptive Rights for H Shares		Management	For	Voted - Against
19	Approve Grant of General Mandate to the Board to
	Repurchase H Shares		Management	For	Voted - For

89

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
Meeting Date: 20-May-22		Meeting Type: Special
	CLASS MEETING FOR HOLDERS OF H SHARES		Management	For	Non-Voting
1	Approve Partial Repurchase and Cancellation of the
	2019 Restricted A Shares		Management	For	Voted - For
2	Approve Change of Registered Capital		Management	For	Voted - For
3	Approve Grant of General Mandate to the Board to
	Repurchase H Shares		Management	For	Voted - For
HEINEKEN NV
Security ID: N39427211		Ticker: HEIA
Meeting Date: 21-Apr-22		Meeting Type: Annual
	Annual Meeting Agenda		Management	For	Non-Voting
1.a	Receive Report of Management Board (Non-Voting)		Management	For	Non-Voting
1.b	Approve Remuneration Report		Management	For	Voted - Against
1.c	Adopt Financial Statements		Management	For	Voted - For
1.d	Receive Explanation on Company's Dividend Policy		Management	For	Non-Voting
1.e	Approve Dividends		Management	For	Voted - For
1.f	Approve Discharge of Management Board		Management	For	Voted - For
1.g	Approve Discharge of Supervisory Board		Management	For	Voted - For
2.a	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - For
2.b	Grant Board Authority to Issue Shares Up To 10
	Percent of Issued Capital		Management	For	Voted - For
2.c	Authorize Board to Exclude Preemptive Rights from
	Share Issuances		Management	For	Voted - For
3	Amend Remuneration Policy for Management Board		Management	For	Voted - For
4.a	Reelect J.M. Huet to Supervisory Board		Management	For	Voted - For
4.b	Reelect J.A. Fernandez Carbajal to Supervisory Board		Management	For	Voted - Against
4.c	Reelect M. Helmes to Supervisory Board		Management	For	Voted - For
4.d	Elect F.J. Camacho Beltran to Supervisory Board		Management	For	Voted - Against
5	Ratify Deloitte Accountants B.V. as Auditors		Management	For	Voted - For
HERMES INTERNATIONAL SCA
Security ID: F48051100		Ticker: RMS
Meeting Date: 20-Apr-22		Meeting Type: Annual/Special
	Ordinary Business		Management	For	Non-Voting
1	Approve Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Approve Discharge of General Managers		Management	For	Voted - For
4	Approve Allocation of Income and Dividends of EUR 8
	per Share		Management	For	Voted - For
5	Approve Auditors' Special Report on Related-Party
	Transactions		Management	For	Voted - Against

90

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
6	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - Against
7	Approve Compensation Report of Corporate Officers		Management	For	Voted - Against
8	Approve Compensation of Axel Dumas, General Manager		Management	For	Voted - Against
9	Approve Compensation of Emile Hermes SAS, General
	Manager		Management	For	Voted - Against
10	Approve Compensation of Eric de Seynes, Chairman of
	the Supervisory Board		Management	For	Voted - For
11	Approve Remuneration Policy of General Managers		Management	For	Voted - Against
12	Approve Remuneration Policy of Supervisory Board
	Members		Management	For	Voted - For
13	Reelect Charles-Eric Bauer as Supervisory Board
	Member		Management	For	Voted - Against
14	Reelect Estelle Brachlianoff as Supervisory Board
	Member		Management	For	Voted - For
15	Reelect Julie Guerrand as Supervisory Board Member		Management	For	Voted - Against
16	Reelect Dominique Senequier as Supervisory Board
	Member		Management	For	Voted - For
	Extraordinary Business		Management	For	Non-Voting
17	Authorize Decrease in Share Capital via
	Cancellation of Repurchased Shares		Management	For	Voted - For
18	Authorize up to 2 Percent of Issued Capital for Use
	in Stock Option Plans		Management	For	Voted - Against
19	Authorize up to 2 Percent of Issued Capital for Use
	in Restricted Stock Plans		Management	For	Voted - Against
20	Authorize Filing of Required Documents/Other
	Formalities		Management	For	Voted - For
INTERCONTINENTAL HOTELS GROUP PLC
Security ID: G4804L163		Ticker: IHG
Meeting Date: 06-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Remuneration Report		Management	For	Voted - For
3	Approve Final Dividend		Management	For	Voted - For
4a	Re-elect Graham Allan as Director		Management	For	Voted - For
4b	Re-elect Daniela Barone Soares as Director		Management	For	Voted - For
4c	Re-elect Keith Barr as Director		Management	For	Voted - For
4d	Re-elect Patrick Cescau as Director		Management	For	Voted - For
4e	Re-elect Arthur de Haast as Director		Management	For	Voted - For
4f	Re-elect Ian Dyson as Director		Management	For	Voted - For
4g	Re-elect Paul Edgecliffe-Johnson as Director		Management	For	Voted - For
4h	Re-elect Duriya Farooqui as Director		Management	For	Voted - For
4i	Re-elect Jo Harlow as Director		Management	For	Voted - For
4j	Re-elect Elie Maalouf as Director		Management	For	Voted - For
4k	Re-elect Jill McDonald as Director		Management	For	Voted - For
4l	Re-elect Sharon Rothstein as Director		Management	For	Voted - For
5	Reappoint Pricewaterhouse Coopers LLP as Auditors		Management	For	Voted - For

91

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
6	Authorise the Audit Committee to Fix Remuneration
	of Auditors		Management	For	Voted - For
7	Authorise UK Political Donations and Expenditure		Management	For	Voted - For
8	Authorise Issue of Equity		Management	For	Voted - For
9	Authorise Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
10	Authorise Issue of Equity without Pre-emptive
	Rights in Connection with an Acquisition or Other
	Capital Investment		Management	For	Voted - For
11	Authorise Market Purchase of Ordinary Shares		Management	For	Voted - For
12	Authorise the Company to Call General Meeting with
	Two Weeks' Notice		Management	For	Voted - For
KWEICHOW MOUTAI CO., LTD.
Security ID: Y5070V116		Ticker: 600519
Meeting Date: 16-Jun-22		Meeting Type: Annual
1	Approve Report of the Board of Directors		Management	For	Voted - For
2	Approve Report of the Board of Supervisors		Management	For	Voted - For
3	Approve Report of the Independent Directors		Management	For	Voted - For
4	Approve Annual Report and Summary		Management	For	Voted - For
5	Approve Financial Statements		Management	For	Voted - For
6	Approve Financial Budget Plan		Management	For	Voted - For
7	Approve Profit Distribution		Management	For	Voted - For
8	Approve to Appoint Financial Auditor and Internal
	Control Auditor		Management	For	Voted - For
9	Amend Articles of Association		Management	For	Voted - For
10	Approve Adjustment to Allowance of Independent
	Directors		Management	For	Voted - For
11	Approve Adjustment of Investment Amount of Maotai
	Technical Transformation Project and Ancillary
	Facilities Projects		Management	For	Voted - For
12	Approve Adjustment of the Investment Amount of the
	2nd Phase of Maotai Wine Making Project Technical
	Transformation Project in Zhonghuapian Area of the
	Expansion Technical Transformation Project of
	Maotai liquor		Management	For	Voted - For
13	Approve Adjustment of Investment Amount of Maotai
	Jiuzhi Production Room and Supporting Facilities
	Technical Transformation Project		Management	For	Voted - For
	ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE
	VOTING		Management	For	Non-Voting
14.1	Elect Liu Shizhong as Director		Management	For	Voted - For
	ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING			Management	For	Non-Voting
15.1	Elect Jiang Guohua as Director		Management	For	Voted - For
15.2	Elect Guo Tianyong as Director		Management	For	Voted - For
15.3	Elect Sheng Leiming as Director		Management	For	Voted - For

92

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
LONDON STOCK EXCHANGE GROUP PLC
Security ID: G5689U103 Ticker: LSEG
Meeting Date: 27-Apr-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Final Dividend		Management	For	Voted - For
3	Approve Remuneration Report		Management	For	Voted - For
4	Approve Climate Transition Plan		Management	For	Voted - For
5	Re-elect Dominic Blakemore as Director		Management	For	Voted - For
6	Re-elect Martin Brand as Director		Management	For	Voted - For
7	Re=elect Erin Brown as Director		Management	For	Voted - For
8	Re-elect Kathleen DeRose as Director		Management	For	Voted - For
9	Re-elect Cressida Hogg as Director		Management	For	Voted - For
10	Re-elect Anna Manz as Director		Management	For	Voted - For
11	Re-elect Val Rahmani as Director		Management	For	Voted - For
12	Re-elect Don Robert as Director		Management	For	Voted - For
13	Re-elect David Schwimmer as Director		Management	For	Voted - For
14	Re-elect Douglas Steenland as Director		Management	For	Voted - For
15	Elect Tsega Gebreyes as Director		Management	For	Voted - For
16	Elect Ashok Vaswani as Director		Management	For	Voted - For
17	Reappoint Ernst & Young LLP as Auditors		Management	For	Voted - For
18	Authorise Board to Fix Remuneration of Auditors		Management	For	Voted - For
19	Authorise Issue of Equity		Management	For	Voted - For
20	Authorise UK Political Donations and Expenditure		Management	For	Voted - For
21	Authorise Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
22	Authorise Issue of Equity without Pre-emptive
	Rights in Connection with an Acquisition or Other
	Capital Investment		Management	For	Voted - For
23	Authorise Market Purchase of Ordinary Shares		Management	For	Voted - For
24	Authorise the Company to Call General Meeting with
	Two Weeks' Notice		Management	For	Voted - For
LONZA GROUP AG
Security ID: H50524133		Ticker: LONN
Meeting Date: 05-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Remuneration Report		Management	For	Voted - For
3	Approve Discharge of Board and Senior Management		Management	For	Voted - For
4	Approve Allocation of Income and Dividends of CHF
	3.00 per Share		Management	For	Voted - For
5.1.1 Reelect Albert Baehny as Director			Management	For	Voted - For
5.1.2 Reelect Angelica Kohlmann as Director			Management	For	Voted - For
5.1.3 Reelect Christoph Maeder as Director			Management	For	Voted - For
5.1.4 Reelect Barbara Richmond as Director			Management	For	Voted - For
5.1.5 Reelect Juergen Steinemann as Director			Management	For	Voted - For

93

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
5.1.6 Reelect Olivier Verscheure as Director			Management	For	Voted - For
5.2.1 Elect Marion Helmes as Director			Management	For	Voted - For
5.2.2 Elect Roger Nitsch as Director			Management	For	Voted - For
5.3	Reelect Albert Baehny as Board Chair		Management	For	Voted - For
5.4.1 Reappoint Angelica Kohlmann as Member of the
	Nomination and Compensation Committee		Management	For	Voted - For
5.4.2 Reappoint Christoph Maeder as Member of the
	Nomination and Compensation Committee		Management	For	Voted - For
5.4.3 Reappoint Juergen Steinemann as Member of the
	Nomination and Compensation Committee		Management	For	Voted - For
6	Ratify KPMG Ltd as Auditors		Management	For	Voted - For
7	Designate ThomannFischer as Independent Proxy		Management	For	Voted - For
8	Approve Remuneration of Directors in the Amount of
	CHF 2.9 Million		Management	For	Voted - For
9.1	Approve Fixed Remuneration of Executive Committee
	in the Amount of CHF 6.5 Million for the Period
	July 1, 2022 - June 30, 2023		Management	For	Voted - For
9.2	Approve Variable Short-Term Remuneration of
	Executive Committee in the Amount of CHF 4.9
	Million for Fiscal Year 2021		Management	For	Voted - For
9.3	Approve Variable Long-Term Remuneration of
	Executive Committee in the Amount of CHF 11.1
	Million for Fiscal Year 2022		Management	For	Voted - For
10	Transact Other Business (Voting)		Management	For	Voted - Against
L'OREAL SA
Security ID: F58149133		Ticker: OR
Meeting Date: 21-Apr-22		Meeting Type: Annual/Special
	Ordinary Business		Management	For	Non-Voting
1	Approve Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Consolidated Financial Statements and
	Statutory Reports		Management	For	Voted - For
3	Approve Allocation of Income and Dividends of EUR
	4.80 per Share and an Extra of EUR 0.48 per Share
	to Long Term Registered Shares		Management	For	Voted - For
4	Reelect Jean-Paul Agon as Director		Management	For	Voted - For
5	Reelect Patrice Caine as Director		Management	For	Voted - For
6	Reelect Belen Garijo as Director		Management	For	Voted - For
7	Renew Appointment of Deloitte & Associes as Auditor		Management	For	Voted - For
8	Appoint Ernst & Young as Auditor		Management	For	Voted - For
9	Approve Compensation Report of Corporate Officers		Management	For	Voted - For
10	Approve Compensation of Jean-Paul Agon, Chairman
	and CEO from 1 January 2021 to 30 April 2021		Management	For	Voted - For
11	Approve Compensation of Jean-Paul Agon, Chairman of
	the Board from 1 May 2021 to 31 December 2021		Management	For	Voted - For
12	Approve Compensation of Nicolas Hieronimus, CEO
	from 1 May 2021 to 31 December 2021		Management	For	Voted - For
13	Approve Remuneration Policy of Directors		Management	For	Voted - For

94

Ninety One International Franchise Fund

Proposal			Proposed by	Mgt. Position	Registrant Voted
14	Approve Remuneration Policy of Chairman of the Board		Management	For	Voted - For
15	Approve Remuneration Policy of CEO		Management	For	Voted - For
16	Approve Transaction with Nestle Re: Redemption
	Contract		Management	For	Voted - For
17	Authorize Repurchase of Up to 10 Percent of Issued
	Share Capital		Management	For	Voted - For
	Extraordinary Business		Management	For	Non-Voting
18	Authorize Decrease in Share Capital via
	Cancellation of Repurchased Shares		Management	For	Voted - For
19	Authorize up to 0.6 Percent of Issued Capital for
	Use in Restricted Stock Plans		Management	For	Voted - For
20	Authorize Capital Issuances for Use in Employee
	Stock Purchase Plans		Management	For	Voted - For
21	Authorize Capital Issuances for Use in Employee
	Stock Purchase Plans Reserved for Employees of
	International Subsidiaries		Management	For	Voted - For
22	Amend Article 9 of Bylaws Re: Age Limit of Chairman
	of the Board		Management	For	Voted - For
23	Amend Article 11 of Bylaws Re: Age Limit of CEO		Management	For	Voted - For
24	Amend Article 2 and 7 of Bylaws to Comply with
	Legal Changes		Management	For	Voted - For
25	Amend Article 8 of Bylaws Re: Shares Held by
	Directors		Management	For	Voted - For
26	Authorize Filing of Required Documents/Other
	Formalities		Management	For	Voted - For
MASTERCARD INCORPORATED
Security ID: 57636Q104		Ticker: MA
Meeting Date: 21-Jun-22		Meeting Type: Annual
1a	Elect Director Merit E. Janow		Management	For	Voted - For
1b	Elect Director Candido Bracher		Management	For	Voted - For
1c	Elect Director Richard K. Davis		Management	For	Voted - For
1d	Elect Director Julius Genachowski		Management	For	Voted - For
1e	Elect Director Choon Phong Goh		Management	For	Voted - For
1f	Elect Director Oki Matsumoto		Management	For	Voted - For
1g	Elect Director Michael Miebach		Management	For	Voted - For
1h	Elect Director Youngme Moon		Management	For	Voted - For
1i	Elect Director Rima Qureshi		Management	For	Voted - For
1j	Elect Director Gabrielle Sulzberger		Management	For	Voted - For
1k	Elect Director Jackson Tai		Management	For	Voted - For
1l	Elect Director Harit Talwar		Management	For	Voted - For
1m	Elect Director Lance Uggla		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify PricewaterhouseCoopers LLP as Auditors		Management	For	Voted - For
4	Provide Right to Call a Special Meeting at a 15
	Percent Ownership Threshold		Management	For	Voted - For

95

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
5	Provide Right to Call a Special Meeting at a 10
	Percent Ownership Threshold		Shareholder	Against	Voted - For
6	Report on Political Contributions		Shareholder	Against	Voted - Against
7	Report on Charitable Contributions		Shareholder	Against	Voted - Against
8	Report on Risks Associated with Sale and Purchase
	of Ghost Guns		Shareholder	Against	Voted - Against
NESTLE SA
Security ID: H57312649		Ticker: NESN
Meeting Date: 07-Apr-22		Meeting Type: Annual
1.1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
1.2	Approve Remuneration Report		Management	For	Voted - For
2	Approve Discharge of Board and Senior Management		Management	For	Voted - For
3	Approve Allocation of Income and Dividends of CHF
	2.80 per Share		Management	For	Voted - For
4.1.a Reelect Paul Bulcke as Director and Board Chairman			Management	For	Voted - For
4.1.b Reelect Ulf Schneider as Director			Management	For	Voted - For
4.1.c Reelect Henri de Castries as Director			Management	For	Voted - For
4.1.d Reelect Renato Fassbind as Director			Management	For	Voted - For
4.1.e Reelect Pablo Isla as Director			Management	For	Voted - For
4.1.f Reelect Eva Cheng as Director			Management	For	Voted - For
4.1.g Reelect Patrick Aebischer as Director			Management	For	Voted - For
4.1.h Reelect Kimberly Ross as Director			Management	For	Voted - For
4.1.i Reelect Dick Boer as Director			Management	For	Voted - For
4.1.j Reelect Dinesh Paliwal as Director			Management	For	Voted - For
4.1.k Reelect Hanne Jimenez de Mora as Director			Management	For	Voted - For
4.1.l Reelect Lindiwe Sibanda as Director			Management	For	Voted - For
4.2.1 Elect Chris Leong as Director			Management	For	Voted - For
4.2.2 Elect Luca Maestri as Director			Management	For	Voted - For
4.3.1 Appoint Pablo Isla as Member of the Compensation
	Committee		Management	For	Voted - For
4.3.2 Appoint Patrick Aebischer as Member of the
	Compensation Committee		Management	For	Voted - For
4.3.3 Appoint Dick Boer as Member of the Compensation
	Committee		Management	For	Voted - For
4.3.4 Appoint Dinesh Paliwal as Member of the
	Compensation Committee		Management	For	Voted - For
4.4	Ratify Ernst & Young AG as Auditors		Management	For	Voted - For
4.5	Designate Hartmann Dreyer as Independent Proxy		Management	For	Voted - For
5.1	Approve Remuneration of Directors in the Amount of
	CHF 10 Million		Management	For	Voted - For
5.2	Approve Remuneration of Executive Committee in the
	Amount of CHF 68 Million		Management	For	Voted - For
6	Approve CHF 6.5 Million Reduction in Share Capital
	as Part of the Share Buyback Program via
	Cancellation of Repurchased Shares		Management	For	Voted - For
7	Transact Other Business (Voting)		Management	Against	Voted - Against

96

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
NETEASE, INC.
Security ID: G6427A102 Ticker: 9999
Meeting Date: 16-Jun-22		Meeting Type: Annual
1a	Elect William Lei Ding as Director		Management	For	Voted - For
1b	Elect Alice Yu-Fen Cheng as Director		Management	For	Voted - Abstain
1c	Elect Joseph Tze Kay Tong as Director		Management	For	Voted - Abstain
1d	Elect Lun Feng as Director		Management	For	Voted - Abstain
1e	Elect Michael Man Kit Leung as Director		Management	For	Voted - Abstain
2	Approve Appointment of PricewaterhouseCoopers Zhong
	Tian LLP and PricewaterhouseCoopers as Auditors		Management	For	Voted - For
PHILIP MORRIS INTERNATIONAL INC
Security ID: 718172109		Ticker: PM
Meeting Date: 04-May-22		Meeting Type: Annual
1a	Elect Director Brant Bonin Bough		Management	For	Voted - For
1b	Elect Director Andre Calantzopoulos		Management	For	Voted - For
1c	Elect Director Michel Combes		Management	For	Voted - For
1d	Elect Director Juan Jose Daboub		Management	For	Voted - For
1e	Elect Director Werner Geissler		Management	For	Voted - For
1f	Elect Director Lisa A. Hook		Management	For	Voted - For
1g	Elect Director Jun Makihara		Management	For	Voted - For
1h	Elect Director Kalpana Morparia		Management	For	Voted - For
1i	Elect Director Lucio A. Noto		Management	For	Voted - For
1j	Elect Director Jacek Olczak		Management	For	Voted - For
1k	Elect Director Frederik Paulsen		Management	For	Voted - For
1l	Elect Director Robert B. Polet		Management	For	Voted - For
1m	Elect Director Dessislava Temperley		Management	For	Voted - For
1n	Elect Director Shlomo Yanai		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Approve Omnibus Stock Plan		Management	For	Voted - For
4	Ratify PricewaterhouseCoopers SA as Auditors		Management	For	Voted - For
5	Phase Out Production of Health-Hazardous and
	Addictive Products		Shareholder	Against	Voted - Against
REA GROUP LTD
Security ID: Q8051B108 Ticker: REA
Meeting Date: 11-Nov-21		Meeting Type: Annual
2	Approve Remuneration Report		Management	For	Voted - For
3a	Elect Jennifer Lambert as Director		Management	For	Voted - For
3b	Elect Hamish McLennan as Director		Management	For	Voted - Against

97

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
4a	Approve Issuance of 2,660 Additional Performance
	Rights to Owen Wilson under the 2023 REA Group
	Long-Term Incentive Plan		Management	For	Voted - Against
4b	Approve Issuance of 7,959 Performance Rights to
	Owen Wilson under the 2024 REA Group Long-Term
	Incentive Plan		Management	For	Voted - Against
5a	Approve General Amendments to the Company's
	Constitution		Management	For	Voted - For
5b	Approve Technology Amendments to the Company's
	Constitution		Management	For	Voted - Against
6	Approve Financial Assistance in Relation to the
	Acquisition		Management	For	Voted - For
7	Approve Increase in Non-Executive Directors' Fee
	Pool		Management	None	Voted - For
RECKITT BENCKISER GROUP PLC
Security ID: G74079107		Ticker: RKT
Meeting Date: 20-May-22		Meeting Type: Annual
1	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
2	Approve Remuneration Report		Management	For	Voted - For
3	Approve Remuneration Policy		Management	For	Voted - For
4	Approve Final Dividend		Management	For	Voted - For
5	Re-elect Andrew Bonfield as Director		Management	For	Voted - For
6	Re-elect Olivier Bohuon as Director		Management	For	Voted - For
7	Re-elect Jeff Carr as Director		Management	For	Voted - For
8	Re-elect Margherita Della Valle as Director		Management	For	Voted - For
9	Re-elect Nicandro Durante as Director		Management	For	Voted - For
10	Re-elect Mary Harris as Director		Management	For	Voted - For
11	Re-elect Mehmood Khan as Director		Management	For	Voted - For
12	Re-elect Pam Kirby as Director		Management	For	Voted - For
13	Re-elect Laxman Narasimhan as Director		Management	For	Voted - For
14	Re-elect Chris Sinclair as Director		Management	For	Voted - For
15	Re-elect Elane Stock as Director		Management	For	Voted - For
16	Elect Alan Stewart as Director		Management	For	Voted - For
17	Reappoint KPMG LLP as Auditors		Management	For	Voted - For
18	Authorise the Audit Committee to Fix Remuneration
	of Auditors		Management	For	Voted - For
19	Authorise UK Political Donations and Expenditure		Management	For	Voted - For
20	Authorise Issue of Equity		Management	For	Voted - For
21	Authorise Issue of Equity without Pre-emptive Rights		Management	For	Voted - For
22	Authorise Issue of Equity without Pre-emptive
	Rights in Connection with an Acquisition or Other
	Capital Investment		Management	For	Voted - For
23	Authorise Market Purchase of Ordinary Shares		Management	For	Voted - For
24	Authorise the Company to Call General Meeting with
	Two Weeks' Notice		Management	For	Voted - For

98

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
SAP SE
Security ID: D66992104		Ticker: SAP
Meeting Date: 18-May-22		Meeting Type: Annual
1	Receive Financial Statements and Statutory Reports
	for Fiscal Year 2021 (Non-Voting)		Management	For	Non-Voting
2	Approve Allocation of Income and Dividends of EUR
	1.95 per Share and Special Dividends of EUR 0.50
	per Share		Management	For	Voted - For
3	Approve Discharge of Management Board for Fiscal
	Year 2021		Management	For	Voted - For
4	Approve Discharge of Supervisory Board for Fiscal
	Year 2021		Management	For	Voted - For
5	Ratify KPMG AG as Auditors for Fiscal Year 2022		Management	For	Voted - For
6	Ratify BDO AG as Auditors for Fiscal Year 2023		Management	For	Voted - For
7	Approve Remuneration Report		Management	For	Voted - For
8.1	Elect Hasso Plattner to the Supervisory Board		Management	For	Voted - For
8.2	Elect Rouven Westphal to the Supervisory Board		Management	For	Voted - For
8.3	Elect Gunnar Wiedenfels to the Supervisory Board		Management	For	Voted - For
8.4	Elect Jennifer Xin-Zhe Li to the Supervisory Board		Management	For	Voted - For
9	Approve Remuneration of Supervisory Board		Management	For	Voted - For
SIEMENS HEALTHINEERS AG
Security ID: D6T479107		Ticker: SHL
Meeting Date: 15-Feb-22		Meeting Type: Annual
1	Receive Financial Statements and Statutory Reports
	for Fiscal Year 2021 (Non-Voting)		Management	For	Non-Voting
2	Approve Allocation of Income and Dividends of EUR
	0.85 per Share		Management	For	Voted - For
3.1	Approve Discharge of Management Board Member
	Bernhard Montag for Fiscal Year 2021		Management	For	Voted - For
3.2	Approve Discharge of Management Board Member Jochen
	Schmitz for Fiscal Year 2021		Management	For	Voted - For
3.3	Approve Discharge of Management Board Member
	Christoph Zindel for Fiscal Year 2021		Management	For	Voted - For
3.4	Approve Discharge of Management Board Member
	Darleen Caron (from Feb. 1, 2021) for Fiscal Year
	2021		Management	For	Voted - For
4.1	Approve Discharge of Supervisory Board Member Ralf
	Thomas for Fiscal Year 2021		Management	For	Voted - For
4.2	Approve Discharge of Supervisory Board Member
	Norbert Gaus for Fiscal Year 2021		Management	For	Voted - For
4.3	Approve Discharge of Supervisory Board Member
	Roland Busch for Fiscal Year 2021		Management	For	Voted - For
4.4	Approve Discharge of Supervisory Board Member
	Marion Helmes for Fiscal Year 2021		Management	For	Voted - For

99

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
4.5	Approve Discharge of Supervisory Board Member
	Andreas Hoffmann for Fiscal Year 2021		Management	For	Voted - For
4.6	Approve Discharge of Supervisory Board Member
	Philipp Roesler for Fiscal Year 2021		Management	For	Voted - For
4.7	Approve Discharge of Supervisory Board Member Peer
	Schatz (from March 23, 2021) for Fiscal Year 2021		Management	For	Voted - For
4.8	Approve Discharge of Supervisory Board Member
	Nathalie Von Siemens for Fiscal Year 2021		Management	For	Voted - For
4.9	Approve Discharge of Supervisory Board Member
	Gregory Sorensen for Fiscal Year 2021		Management	For	Voted - For
4.10	Approve Discharge of Supervisory Board Member
	Karl-Heinz Streibich for Fiscal Year 2021		Management	For	Voted - For
5	Ratify Ernst & Young GmbH as Auditors for Fiscal
	Year 2022		Management	For	Voted - For
6	Approve Creation of EUR 564 Million Pool of
	Authorized Capital with or without Exclusion of
	Preemptive Rights		Management	For	Voted - Against
7	Approve Issuance of Warrants/Bonds with Warrants
	Attached/Convertible Bonds without Preemptive
	Rights up to Aggregate Nominal Amount of EUR 6
	Billion; Approve Creation of EUR 112.8 Million Pool
	of Capital to Guarantee Conversion Rights		Management	For	Voted - For
8	Authorize Share Repurchase Program and Reissuance
	or Cancellation of Repurchased Shares		Management	For	Voted - For
9	Approve Remuneration Report		Management	For	Voted - For
SWEDISH MATCH AB
Security ID: W9376L154 Ticker: SWMA
Meeting Date: 27-Apr-22		Meeting Type: Annual
1	Open Meeting; Elect Chairman of Meeting		Management	For	Voted - For
2	Prepare and Approve List of Shareholders		Management	For	Voted - For
3	Designate Peter Lundkvist and Filippa Gerstadt
	Inspectors of Minutes of Meeting		Management	For	Voted - For
4	Acknowledge Proper Convening of Meeting		Management	For	Voted - For
5	Approve Agenda of Meeting		Management	For	Voted - For
6	Approve Remuneration Report		Management	For	Voted - For
7	Accept Financial Statements and Statutory Reports		Management	For	Voted - For
8	Approve Allocation of Income and Dividends of SEK
	1.86 Per Share		Management	For	Voted - For
9.a	Approve Discharge of Charles A. Blixt		Management	For	Voted - For
9.b	Approve Discharge of Andrew Cripps		Management	For	Voted - For
9.c	Approve Discharge of Jacqueline Hoogerbrugge		Management	For	Voted - For
9.d	Approve Discharge of Conny Carlsson		Management	For	Voted - For
9.e	Approve Discharge of Alexander Lacik		Management	For	Voted - For
9.f	Approve Discharge of Pauline Lindwall		Management	For	Voted - For
9.g	Approve Discharge of Wenche Rolfsen		Management	For	Voted - For
9.h	Approve Discharge of Joakim Westh		Management	For	Voted - For
9.i	Approve Discharge of Patrik Engelbrektsson		Management	For	Voted - For

100

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
9.j	Approve Discharge of Par-Ola Olausson		Management	For	Voted - For
9.k	Approve Discharge of Dragan Popovic		Management	For	Voted - For
9.l	Approve Discharge of CEO Lars Dahlgren		Management	For	Voted - For
10	Determine Number of Members (7) and Deputy Members
	(0) of Board		Management	For	Voted - For
11	Approve Remuneration of Directors in the Amount of
	SEK 2.36 million to Chair and SEK 945,000 to Other
	Directors; Approve Remuneration for Committee Work		Management	For	Voted - For
12.a	Reelect Charles A. Blixt as Director		Management	For	Voted - For
12.b	Reelect Jacqueline Hoogerbrugge as Director		Management	For	Voted - For
12.c	Reelect Conny Carlsson as Director		Management	For	Voted - For
12.d	Reelect Alexander Lacik as Director		Management	For	Voted - For
12.e	Reelect Pauline Lindwall as Director		Management	For	Voted - For
12.f	Reelect Joakim Westh as Director		Management	For	Voted - For
12.g	Elect Sanna Suvanto-Harsaae as New Director		Management	For	Voted - Against
12.h	Reelect Conny Karlsson as Board Chair		Management	For	Voted - For
13	Determine Number of Auditors (1) and Deputy
	Auditors (0)		Management	For	Voted - For
14	Approve Remuneration of Auditors		Management	For	Voted - For
15	Ratify Deloitte as Auditors		Management	For	Voted - For
16.a	Approve SEK 13.5 Million Reduction in Share Capital
	via Share Cancellation for Transfer to Unrestricted
	Equity		Management	For	Voted - For
16.b	Approve Capitalization of Reserves of SEK 13.5
	Million for a Bonus Issue		Management	For	Voted - For
17	Authorize Share Repurchase Program		Management	For	Voted - For
18	Authorize Reissuance of Repurchased Shares		Management	For	Voted - For
19	Approve Issuance of Shares up to 10 Per cent of
	Share Capital without Preemptive Rights		Management	For	Voted - For
TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD.
Security ID: Y84629107		Ticker: 2330
Meeting Date: 08-Jun-22		Meeting Type: Annual
	Meeting for ADR Holders		Management	For	Non-Voting
1	Approve Business Operations Report and Financial
	Statements		Management	For	Voted - For
2	Approve Amendments to Articles of Association		Management	For	Voted - For
3	Amend Procedures Governing the Acquisition or
	Disposal of Assets		Management	For	Voted - For
4	Approve Issuance of Restricted Stocks		Management	For	Voted - For
THE ESTEE LAUDER COMPANIES INC.
Security ID: 518439104		Ticker: EL
Meeting Date: 12-Nov-21		Meeting Type: Annual
1a	Elect Director Rose Marie Bravo		Management	For	Voted - For

101

		Ninety One International Franchise Fund
Proposal			Proposed by	Mgt. Position	Registrant Voted
1b	Elect Director Paul J. Fribourg		Management	For	Voted - For
1c	Elect Director Jennifer Hyman		Management	For	Voted - For
1d	Elect Director Barry S. Sternlicht		Management	For	Voted - Withheld
2	Ratify PricewaterhouseCoopers LLP as Auditors		Management	For	Voted - For
3	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
VISA INC.
Security ID: 92826C839		Ticker: V
Meeting Date: 25-Jan-22		Meeting Type: Annual
1a	Elect Director Lloyd A. Carney		Management	For	Voted - For
1b	Elect Director Mary B. Cranston		Management	For	Voted - For
1c	Elect Director Francisco Javier Fernandez-Carbajal		Management	For	Voted - For
1d	Elect Director Alfred F. Kelly, Jr.		Management	For	Voted - For
1e	Elect Director Ramon Laguarta		Management	For	Voted - For
1f	Elect Director John F. Lundgren		Management	For	Voted - For
1g	Elect Director Robert W. Matschullat		Management	For	Voted - For
1h	Elect Director Denise M. Morrison		Management	For	Voted - For
1i	Elect Director Linda J. Rendle		Management	For	Voted - For
1j	Elect Director Maynard G. Webb, Jr.		Management	For	Voted - For
2	Advisory Vote to Ratify Named Executive Officers'
	Compensation		Management	For	Voted - For
3	Ratify KPMG LLP as Auditors		Management	For	Voted - For

102

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

The Advisors’ Inner Circle Fund III

By:   /s/ Michael Beattie

Michael Beattie

President

Date: August 23, 2022

103