Explanation:

Both statements 1&3 are incorrect.

• Quad Grouping is a four-nation grouping of India, Australia, the USA and Japan which was established in 2007.
• Quad member countries have also indicated a willingness to expand the partnership through a so-called Quad Plus that would include South Korea, New Zealand, and Vietnam amongst others.
• However, as of now, Quad members are restricted to these four countries only.
• In March 2021, the Quad leaders met virtually and later released a joint statement titled ‘The Spirit of the Quad,’ which outlined the group’s approach and objectives.
• According to the ‘Spirit of the Quad’, the group’s primary objectives include maritime security, combating the Covid-19 crisis, especially vis-à-vis vaccine diplomacy, addressing the risks of climate change, creating an ecosystem for investment in the region and boosting technological innovation.
• Despite the potential for cooperation, the Quad remains a mechanism without a defined strategic mission.
• The Quad is not structured like a typical multilateral organisation and lacks a secretariat and any permanent decision-making body.
• Additionally, unlike NATO, the Quad does not include provisions for collective defence, instead choosing to conduct joint military exercises as a show of unity and diplomatic cohesion.

Hence option 3rd is correct.