Consider the following statements regarding the Padma Awards:

1. The Padma Awards were established in 1954 and initially had three classes: Pahela Varg, Dusra Varg, and Tisra Varg.

2. The total number of Padma awards conferred each year is capped at 150, excluding posthumous awards and awards to NRIs, foreign nationals, and Overseas Citizens of India (OCIs).

3. The Padma Awards are presented by the President of India, typically in the months of March or April.

How many of the above statements are correct?