STOXX Limited INNOVATIVE GLOBAL INDEX SOLUTIONS. »»ON THE CUTTING EDGE. STOXX IS AT HOME IN THE WORLD’S LEADING FINANCIAL CENTERS. 02 / 03 Welcome

A MARKET-MOVING BRAND FOR THE GLOBAL INDEX COMMUNITY.

STOXX is expanding the world of indexing. We have taken our European success and heritage to the international stage, where our innovative indices are gaining recognition. Our reliability, accuracy, and objectivity are capturing the attention of investors.

Clients at more than 500 companies in 36 countries use STOXX products daily. We are also the marketing agent for the indices of our shareholders, Deutsche Börse (DAX® indices) and SIX Swiss Exchange (SMI indices®). With total assets under management (AuM) of about US $87 billion, 288 ETFs globally are based on STOXX®, DAX®, and SMI® indices.*

Clients turn to us for our promise to deliver independent, fully transparent indices based on strict rules. They know that with us, objectivity means only one thing.

The first STOXX indices were launched in 1998. In less than 15 years, we have become a leading index provider with a global offering. We create leading indices using groundbreaking methodologies and robust data. The EURO STOXX 50® is used by investors worldwide to structure and benchmark their equity portfolios.

Our indices are highly tradable and investable, placing them in a leading position for ETF creation. STOXX is the answer.

Dr. Hartmut Graf, CEO, STOXX Ltd. “Objectivity in creating an index is crucial. Our expertise in building state-of-the- art index concepts goes hand in hand with our commitment to transparency and rules-based methodologies. We offered investors the STOXX® Emerging Markets indices, which are based on a transparent market classification model, a first of its kind. This model, which is completely rules-based, classifies developed and emerging markets in five comprehensible steps. Our STOXX® Minimum Variance index family shows our ability to offer a superior concept not available in the market.”

* Data as of December 31, 2011 STOXX

Three BRANDS, FROM STANDARD TO CUSTOMIZED.

The STOXX equity universe comprises about 55,000 stocks from around the world, covering the majority of each market and representing 95% of the free-float market capitalization of the respective country or region.

All of our indices can be broken down from large to small. For example, an index that contains many stocks may form the basis of a blue-chip index that includes only the largest stocks from the larger pool. This ensures a clear hierarchy within our portfolio of indices.

Overview

STOXX iSTOXX STOXX Standard Line Flexible Line Customized

» Globally consistent » Non-standard » Customized indices family covering all concepts offering developed according markets and all com- alternative to client require- mon index types approaches to ments for all asset (TMI, sectors, size, individual markets classes style, blue-chip), as well as innovative » Strictly rules-based » Available exclusively strategy indices indices with rule set for respective clients that differs from the » Transparent, hierar- standard approach chical breakdown of the respective TMI equity universe » Multiple indices per into sizes, sectors, country/region/ themes etc. theme available to fulfill a wide range of investors needs » Rules-based and consistent method- ology within index families

» Available for all markets

STOXX BRANDED NOT STOXX BRANDED 04 / 05 Innovative and global comprehensive set of indices

Global universe

STANDARD TMI/ Blue-chip Sector Size Style & ESG INDICES Broad Theme

Leverage/ Optimized Risk Minimum Dividend DERIVED Short & indices Control Variance concepts INDICES Optimal indices indices Leverage

AVAILABLE WORLDWIDE

Regions Latin America Croatia Ireland Pakistan Switzerland All Europe North America Cyprus Israel Peru Taiwan Africa Western Europe Czech Republic Italy Philippines Thailand America Denmark Japan Poland The Netherlands Asia Countries Egypt Latvia Portugal Tunisia Developed Markets Argentina Estonia Lithuania Romania Turkey Emerging Markets Australia Finland Luxembourg Russia Ukraine Global Austria France Macedonia Serbia UK Pacific Belgium Germany Malaysia Singapore USA Brazil Greece Malta Slovakia Vietnam Sub-Regions Bulgaria Hong Kong Mexico Slovenia BRIC Canada Hungary Morocco South Africa East Asia Chile Iceland New Zealand South Korea Eastern Europe China India Nigeria Spain Eurozone Colombia Indonesia Norway Sweden STOXX

CHOOSE STOXX. CHOOSE SUPERIOR INDICES.

We understand your need for reliable and high-quality data. We also know you require rigorous index calculation and maintenance designed to accom- plish your goals. We provide all this and more.

THE STOXX ADVANTAGE

» Fully transparent and rules-based indices – our indices are trustworthy, designed in the best interest of all investors » Highly liquid – our indices are highly investable and are among the most widely followed indices globally » Global offering – we employ a globally consistent methodology with a logical breakdown and comprehensive coverage (i.e. 95% coverage) » Diversified offerings – our portfolio includes blue-chip, benchmark, sector, size, and strategy indices, among many others » Continuous innovation – we build highly innovative strategy indices for all purposes and regions » Advanced technical infrastructure and high operational standards – we are prepared to be your partner for any indexing concept

OUR COMMITMENT. YOUR BENEFIT

ISSUANCE OF FINANCIAL PRODUCTS STOXX® indices are diversified, efficient investment tools designed to serve as underlyings for a wide range of financial products, such as exchange- traded funds (ETFs), futures and options, and structured products. Investors can choose from a broad variety of indices for many global markets and countries.

PERFORMANCE ASSESSMENT All STOXX® indices enable investors to choose the right tools to assess the performance of their portfolios. The types of indices range from sophisticated, leveraged investment strategies to risk-averse concepts, such as the STOXX® Risk Control index series, which is available for various global markets. 06 / 07 Innovative and global

ASSET ALLOCATION »»WITH STOXX YOU STOXX® indices are an ideal tool for asset allocation as they provide compre- ARE ALWAYS WHERE hensive coverage of equity markets around the world. And STOXX® indices are divided into different index types such as benchmark, sector, style, and THE ACTION IS. size indices. Thus, investors can choose from a broad and multi-tiered offering of indices.

RESEARCH STOXX® indices offer global coverage of equity markets that include a logical breakdown into sub-indices that represent sizes, sectors, styles, and themes. This makes them well-suited for sophisticated global equity research of risk and performance factors such as dividends, value, and growth.

CUSTOMIZATION STOXX® indices can be used as the basis of customized indices that can be tailored to specific client or mandate needs. The possibilities for customized solutions are virtually unlimited. We can create unique component selections, weighting schemes, and personalized calculation methodologies. STOXX

EXCEPTIONAL PARTNERS.

STOXX markets, maintains and distributes not only its own products, but also the indices of Deutsche Börse and SIX Swiss Exchange. DAX® and SMI® are among the most recognized domestic equity indices worldwide.

STOXX provides unparalleled access to alternative asset classes such as fixed income and commodities. The facts speak for themselves:

» In 2011, nearly 400,000 structured products were issued on STOXX®, DAX®, and SMI® indices

» STOXX, DAX, and SMI indices are the most used indices as underlyings for structured products globally. And they are the fourth largest underlyings for ETFs worldwide

» STOXX and its shareholders have pioneered investable and liquid equity indices for global opportunities as well as pan-European and local investment possibilities

» With its global sales force, STOXX is present everywhere

» STOXX® Customized solutions are offered on a truly global range – including the service business for ETF providers, where STOXX is a market leader in Europe

» STOXX adheres to rules-based, not committee-based, indexing, eliminating elements of unpredictability and, ultimately, risk to the indexing equation 08 / 09 PARTNERSHIP WORKING TOGETHER FOR MUTUAL A dvantage. STOXX Index universe STOXX

THE INDEX UNIVERSE.

In its role as the marketing agent for all indices of Deutsche Börse and SIX Swiss Exchange, STOXX markets the DAX® index, which is the leading blue-chip index for Germany, comprising the 30 largest and most liquid German equities. The SMI® is its Swiss counterpart, comprising the 20 largest stocks from the Swiss Performance Index® (SPI).

STOXX universe

Standard indices (STOXX indices) Advanced indices

Total Market Sector Indices Leverage & Short Optimized indices indices (TMI) » STOXX® Global 3000 Sec. indices » STOXX® Opt. Countries » STOXX® Global TMI » STOXX® All Eur. 800 Sec. » STOXX® Global 200 » STOXX® Europe Optimized » STOXX® BRIC TMI » STOXX® Amer. 1200 Sec. Daily Lev./Daily Lev. 4/ Supersector » STOXX® EM* Markets TMI » STOXX® Asia 1200 Sec. Daily Double Short » STOXX® Eur. Market Quartile & DM* TMI » STOXX® Pacific 100 Sec. » Further regions (7) » STOXX® Americas TMI » Singe country sec. (2) » Country Lev./Short (10) Sustainable & faith- » STOXX® Asia TMI based indices » STOXX® All Europe TMI Style indices Optimal leverage » STOXX® Sustainability » Single country TMIs (53) » STOXX® Eur. Strong Gr. 20 indices » STOXX® ESG indices » STOXX® Eur. Strong Val. 20 » STOXX® Global 200 » STOXX® Islamic Indices Broad indices » STOXX® Eur. Str. St. Comp. Optimal Daily Leverage » STOXX® Christian Ind. » STOXX® Global 3000 » STOXX® Europe TMI » STOXX® All Europe 100 » STOXX® DM* 2400 Growth & Value Opt. Daily Leverage Strategy indices » STOXX® EM* 1500 » STOXX® Asia 100 Optimal » EURO STOXX 50® » STOXX® BRIC 400 Size indices (Large, Daily Leverage BuyWrite/PutWrite » STOXX® Americas 1200 Mid, Small) » Further regions (4) » STOXX® Asia 1200 » STOXX® Eur. TMI Size » Country Optimal Lev. (10) Thematic indices » STOXX® All Europe 800 » STOXX Europe Large 200, » STOXX® Sport indices » Singe country broad (10) Mid 200, Small 200 Volatility – based » STOXX® IPO indices » STOXX® EM* TMI Size & indices » STOXX® Infrastructure Blue Chip indices EM 500 Large, Mid 500, » VSTOXX® indices » EURO STOXX 50® Small 500 » STOXX® Invest. Vola » STOXX® Gl. Rare Earth » STOXX® Global 200 » STOXX® DM* TMI Size » STOXX® Mid Term/ » STOXX® Americas 100 Short Term Future FX Hedged indices (USD, » STOXX® Asia 50 » EURO STOXX 50® CAD, GBP, JPY, EUR) » STOXX® BRIC 50 Volatility Balanced » EURO STOXX 50® Hedged » STOXX® EM* 50 » iSTOXX® Europe » STOXX® Europe 600 » STOXX® DM* 150 Minimum Variance Hedged » Single country blue » STOXX® Min. Var. indices » STOXX® Europe 50 Hedged chip (10) (regions+countries) » STOXX® Gl. 200 Risk Cont. Dividend indices 5%, 10%, 15%, 20% RV » STOXX® Select Div. indices (regions+countries) (7 regions) » STOXX® Max. Div. indices (4 regions, 1 country)

For a comprehensive index overview: www.stoxx.com

* EM = Emerging Markets, DM = Developed Markets DAX Index Universe – Indices of Deutsche Börse

German Indices Strategy Indices Global Indices Alternative Fixed Income Indices Indices

Blue-chip indices Investment Single Countries commodity Indices Tradable indices » DAX® strategies » DBIX India Index® » CX® Commodity » eb.rexx® ­ » DAX® ex Financials » DivDAX® » DAXglobal® Russia » CX® Energy Government indices » MDAX® » DivMSDAX (2x) » CX® Industrial » eb.rexx® Jumbo » SDAX® » DAXplus® Seasonal » DAXglobal® Metals Pfandbriefe® » TecDAX® Strategy » DAXglobal® China/ » CX® Agriculturals indices » DAXplus® Max. Sector » CX® Livestock » eb.rexx® Money Selection indices Dividend » DAXglobal® Austria Market » RX REIT®/ Real Estate » DAXplus® Risk Volatility Indices » Deutsche Börse » ÖkoDAX® Trigger Regions » VDaX-New® EUROGOV® Indices » GEX® » DAX®Dividend » DAXglobal® Asia/ » VDAX® » Entry Standard Index Points Indices Sectors CORPORATE BONDS » DAX® Risk Control » DAXglobal® Africa Longevity indices » RDAX® All Share Indices indices » DAXglobal® Lat.Am. » Xpect Age Index » Technology All » DAXglobal® GCC » Xpect Life Index SYNTHE TIC INDICES Share® markowitz indices » Daxglobal® bRIC » REX » Classic All Share® For GER, CH, F, US, JAP » DAXglobal® » Prime All Share » DAXplus® Minimum Emerging-11 Variance Indices » DAXglobal® Short Sector Indices » DAXplus® Maximum Indices » DAXsupersector Sharpe Ratio Indices » DAXsector (18) Global Industries » DAXsubsector (64) Derivative » Daxglobal® Alt. Strategies Energy » ShortDAX® (1x – 8x) » DAXglobal® » Short TecDAX Nucl. Power » LevDAX® (2x – 8x) » DAXglobal® » Monthly LevDAX® Agribusiness » DAXplus® Covered » DAXglobal® Water Call » DAXglobal® Sarasin » DAXPlus® Sustainability (D, CH) Protective Put

For a comprehensive index overview: www.dax-indices.com SMI INDEX Universe – Indices of SIX Swiss Exchange

Swiss Indices Strategy Indices Specialty Indices Alternative Fixed Income Indices Indices

Blue-chip indices Derivative SECTOR REAL ESTATE Volatility INDICES sBI Family » SMI® strategies » SXI Real Estate® » VSMI® » sbi® Total » SLI® » SMI® Daily Leveraged » SXI Real Estate® » sbi® Domestic » SMI® Daily Short Funds » sbi® Dom Gov SWISS MARKET » SMI® Daily Short Lev. » SXI Real Estate® » sbi® Dom Non-Gov INDICES » SLI Daily Leveraged Share » Swiss Pfandbrief » SMI® » SLI Daily Short » SXI Swiss Real » sbi® Foreign » SMIM® » SLI Daily Short Lev. Estate® » sbi® Foreign » SMI Expanded® » SBI® Dom Gov Mid » SXI Swiss Real Government 3-7 Daily Short Estate® Funds » sbi® Foreign swiss » SBI® Dom Gov Mid » SXI Swiss Real Corporate performance 3-7 Daily Short Estate® Share » sbi® Foreign index family Leveraged Supranat. » SPI® » SBI® Dom Gov Mid SECTOR LIFE » SPI Extra® 7+ Daily Short SCIENCE SBI Special » SPI Ex SLI® » SBI® Dom Gov Mid » SXI Life Science® Products 7+ Daily Short » SXI Bio+Medtech® » sbi® Dom Gov Mid 1-3 SIZE INDICES Leveraged » sbi® Dom Gov Mid 3-7 » SPI® Large » sbi® Dom Gov Mid 7+ » SPI® Middle DIVIDEND POINT » SPI® Small » SMI® Dividend Points MONEY MARKET – » SMIM® Dividend SWISS REFERENCE SECTOR INDICES Points RATES » SPI® Industry (10) » SLI® Dividend Points » SARON® » SPI® Supersector (18) » SCRON® » SPI® Sector (29) Further Strategies » SAION® (Average) » SPI® Subsector (58) » SMI® Risk Control » SCION® (Current)

For a comprehensive index overview: www.six-swiss-exchange.com/indices STOXX

STOXX FOR YOU.

STOXX index data contains a wealth of information and is available for our licensees in real time and via global vendors.

Data » Daily change files containing components and indices, divisors » End-of-day index histories, currency rates, index opening data, opening quotations » Selection lists (eligible companies, next review), corporate actions, dividend forecast » Charts & comparative analysis » Monthly reports, including performance, correlations, fundamentals, as well as weights and counts

Real time Available via a direct feed or via approximately 400 vendors, among them » Thomson Reuters » Telekurs » Bloomberg

Contacts

Headquarters STOXX Ltd. Selnaustrasse 30 CH-8021 Zurich P +41 (0)58 399 5300 [email protected] www.stoxx.com

Frankfurt: +49 (0)69 211 13243 Hong Kong: +852 6307 9316 London: +44 (0)207 862 7680 Madrid: +34 (0)91 369 1229 New York: +1 212 669 6426 Paris: +33 (0)1 4070 8004 Singapore: +65 9189 7970 Stockholm: +46 (0)8 4600 6090 Tokyo: +81 (0)3 5847 8215 Case Study

DEALING WITH VOLATILITY

Turbulent stock markets and a gloomy macroeconomic outlook since the global financial crisis started in 2007 have whetted investor appetite to manage volatility. The STOXX® Minimum Variance index family launched in May 2012, with our partner Axioma, helps investors prioritize risk reduction above return maximization. Our offering’s unique and superior methodology measures and minimizes risk in a way that has not been done until now.

WHAT CLIENTS WANTED

Clients’ willingness to adopt sophisticated models to cut risk has risen sharply but the products available in the market were based on simplistic methods. Minimum variance indices have existed in the market since 2007, but the methodologies used to construct them produced indices very similar to the benchmark and were limited in geography.

OUR SOLUTION

With Axioma’s factor-based model, we created a family of indices whose methodology is superior to what was available in the market. Our methodology updates risk daily, reduces volatility lag, reduces errors, and helps achieve more robust results.

We created two versions for each index. The constrained version does not stray too far from the underlying index. For the unconstrained version, we used an optimization that allows the index the freedom to not track the benchmark, making it an integral part of a true minimum variance strategy.

THE INDICES

STOXX offers a family of minimum variance indices, covering global regions and countries. The complete list of indices can be found on our homepage www.stoxx.com STOXX Ltd. Selnaustrasse 30 CH-8021 Zurich P +41 (0)58 399 5300 [email protected] www.stoxx.com

STOXX is part of Deutsche Börse and SIX The use of the STOXX®, DAX®, and SMI® indices and of the respective index data for financial products or for other purposes requires a license from STOXX® indices and the data comprised therein are protected through STOXX, Deutsche Börse Ltd., or SIX Swiss Exchange Ltd. STOXX and its owners intellectual property rights. STOXX®, EURO STOXX 50®, iSTOXX®, and do not make any warranties or representations, express or implied, with STOXX® Customized are registered trademarks of STOXX Limited. respect to the timeliness, sequence, accuracy, completeness, cur­rent­ness, SIX®, SIX Swiss Exchange®, SPI®, SPI EXTRA®, SPI ex SLI®, SMI®, SMIM®, SMI merchantability, quality, or fitness for any particular purpose of its index data. Expanded®, SXI®, SXI Real Estate®, SXI Swiss Real Estate®, SXI Life Sciences®, SXI STOXX and its owners are not providing investment advice through the Bio+Medtech®, SLI®, SBI®, SARON®, SCRON®, SAION®, SCION®, and VSMI® are publication of indices or in connection therewith. In particular, the inclusion of trademarks that have been registered in Switzerland and/or abroad by SIX Group a company in an index, its weighting, or the exclusion of a company from an Ltd. respectively SIX Swiss Exchange Ltd. index, does not in any way reflect an opinion of STOXX or its owners on the Deutsche Börse®, DAX®, MDAX®, TecDAX®, SDAX®, DivDAX®, DAXplus®, merits of that company. Financial instruments based on the STOXX®, DAX®, or DAXglobal®, ShortDAX®, GEX®, CDAX®, HDAX®, VDAX®, VDAX-NEW®, Classic SMI® indices are in no way sponsored, endorsed, sold, or promoted by STOXX All Share®, Technology All Share®, RX REIT Index®, ÖkoDAX®, CX®, RDAX®, or its owners. ©STOXX Limited, October 2012. All rights reserved. REX®, eb.rexx®, eb.rexX Jumbo Pfandbriefe®, DBIX Deutsche Börse India Index®, and Deutsche Börse EUROGOV® are registered trademarks of Deutsche Börse Ltd. STOXX is the marketing agent for Deutsche Börse and SIX Swiss Exchange.