Subcustodian and Contracting Party Regulators

Market Subcustodian/Service Domicile(s) of Regulator of subcustodian Contracting Entity Domicile(s) of contracting Regulator(s) of contracting entity Provider subcustodian entity Argentina CITIBANK, N.A. BUENOS AIRES Argentina Central Bank of Argentina CITIBANK, N.A. United States Federal Reserve Bank (FRB), BRANCH CNV Office of Comptroller of currency (OCC) FDIC

Australia HSBC BANK AUSTRALIA Australia Reserve Bank of Australia (RBA) THE HONGKONG AND SHANGHAI Hong Kong Monetary Authority (HKMA) LIMITED Australian Prudential Regulation Authority BANKING CORPORATION LIMITED (APRA) (HSBC) Australian Securities and Investments Commission (ASIC) Austria DEUTSCHE BANK AG Germany German Financial Supervisory Authority DEUTSCHE BANK AG Germany The Federal Financial Supervisory Authority (Bundesanstalt für (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) Finanzdienstleistungsaufsicht / BaFin)

Bahrain HSBC BANK MIDDLE EAST Bahrain Central Bank of Bahrain (CBB) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) LIMITED, BAHRAIN BRANCH BANKING CORPORATION LIMITED (HSBC)

Belgium DEUTSCHE BANK AG, Netherlands The “ and Markets DEUTSCHE BANK AG, Netherlands Prime regulator: the Federal Financial AMSTERDAM BRANCH Authority” (FSMA/“Autoriteit financiële AMSTERDAM BRANCH Supervisory Authority (Bundesanstalt für diensten en markten”/“Autorité des services Finanzdienstleistungsaufsicht / BaFin) et marchés financiers”) Locally regulated by the Netherlands The National Bank of Belgium (NBB/“Nationale Authority for Financial Markets (AFM) Bank Van België”/“Banque Nationale de Belgique”)

Brazil CITIBANK, N.A. - SÃO PAULO Brazil Brazilian Central Bank CITIBANK, N.A. United States Federal Reserve Bank (FRB), Brazilian Securities Commission (CVM) Office of Comptroller of currency (OCC) FDIC

Bulgaria CITIBANK EUROPE PLC, Bulgaria Financial Supervision Commission (FSC) CITIBANK, N.A. United States Federal Reserve Bank (FRB), BULGARIA BRANCH Bulgarian National Bank (BNB) Office of Comptroller of currency (OCC) Ministry of Finance (MoF) FDIC

Central Bank of Ireland

Canada RBC INVESTOR SERVICES Canada Office of the Superintendent of Financial ROYAL BANK OF CANADA (RBC) Canada Office of the Superintendent of Financial TRUST Institutions (OSFI) Institutions (OSFI) Chile BANCO DE CHILE Chile Central Bank of Chile CITIBANK, N.A. United States Federal Reserve Bank (FRB), Superintendence of Securities and Insurance Office of Comptroller of currency (OCC) FDIC

1 Subcustodian and Contracting Party Regulators

Market Subcustodian/Service Domicile(s) of Regulator of subcustodian Contracting Entity Domicile(s) of contracting Regulator(s) of contracting entity Provider subcustodian entity China HSBC BANK (CHINA) China China Securities Regulatory Commission THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) COMPANY LIMITED (CSRC) BANKING CORPORATION LIMITED China Banking Regulatory Commission (CBRC) (HSBC) China Insurance Regulatory Commission (CIRC) State Administration of Foreign Exchange (SAFE) People's Bank of China (PBOC)

Colombia CITITRUST COLOMBIA S.A., Colombia Superintendence of Finance CITIBANK, N.A. United States Federal Reserve Bank (FRB), SOCIEDAD FIDUCIARIA Office of Comptroller of currency (OCC) FDIC

Croatia ZAGREBACKA BANKA D.D. Croatia Croatian Financial Services Supervisory Agency UNICREDIT BANK AUSTRIA AG Austria Austrian Financial Market Authority (FMA) (Hrvatska agencija za nadzor financijskih Oesterreichische Nationalbank (OeNB) usluga) Croatian National Bank

Cyprus BNP PARIBAS SECURITIES Greece Bank of Greece (BoG) BNP PARIBAS SECURITIES France Autorité de Contrôle Prudentiel (ACP) SERVICES Cyprus Securities and Exchange Commission SERVICES Autorité des Marchés Financiers (AMF) (CySEC) Banque de France Czech Republic CITIBANK EUROPE PLC, Czech Republic Czech National Bank CITIBANK, N.A. United States Federal Reserve Bank (FRB), ORGANIZACNI SLOZKA Central Bank of Ireland Office of Comptroller of currency (OCC) FDIC

Denmark SKANDINAVISKA ENSKILDA Denmark Danish FSA (Finanstilsynet) SKANDINAVISKA ENSKILDA Sweden The Swedish Ministry of Finance BANKEN AB (PUBL), Danmarks Nationalbank BANKEN AB (PUBL) Swedish Financial Supervisory Authority DANMARK BRANCH (Finansinspektionen) Egypt CITIBANK, N.A. - CAIRO Egypt Central Bank of Egypt CITIBANK, N.A. United States Federal Reserve Bank (FRB), BRANCH Egyptian Financial Supervisory Authority Office of Comptroller of currency (OCC) (EFSA) FDIC

Estonia "SWEDBANK" AS Estonia Estonian Financial Supervision Authority NORDEA BANK AB (PUBL) Sweden The Swedish Ministry of Finance Swedish Financial Supervisory Authority (Finansinspektionen)

Finland SKANDINAVISKA ENSKILDA Finland Ministry of Finance SKANDINAVISKA ENSKILDA Sweden The Swedish Ministry of Finance BANKEN AB (PUBL), HELSINKI Financial Supervision Authority BANKEN AB (PUBL) Swedish Financial Supervisory Authority BRANCH (Finansinspektionen) France CACEIS BANK France Autorité de Contrôle Prudentiel et de CACEIS BANK France Autorité de Contrôle Prudentiel et de Resolution (ACPR) Resolution (ACPR) Autorité des Marchés Financiers (AMF) Autorité des Marchés Financiers (AMF)

Germany DEUTSCHE BANK AG Germany The Federal Financial Supervisory Authority DEUTSCHE BANK AG Germany The Federal Financial Supervisory Authority (Bundesanstalt für (Bundesanstalt für Finanzdienstleistungsaufsicht / BaFin) Finanzdienstleistungsaufsicht / BaFin) German Central Bank (Deutsche Bundesbank). German Central Bank (Deutsche Bundesbank).

2 Subcustodian and Contracting Party Regulators

Market Subcustodian/Service Domicile(s) of Regulator of subcustodian Contracting Entity Domicile(s) of contracting Regulator(s) of contracting entity Provider subcustodian entity Ghana STANDARD CHARTERED BANK Ghana Bank of Ghana (BoG) STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) GHANA LIMITED Greece HSBC BANK PLC - ATHENS Greece Bank of Greece (BoG) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) BRANCH Hellenic Capital Markets Commission (HCMC) BANKING CORPORATION LIMITED (HSBC)

Hong Kong THE HONGKONG AND Hong Kong Hong Kong Monetary Authority (HKMA) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) SHANGHAI BANKING Securities and Futures Commission (SFC) BANKING CORPORATION LIMITED CORPORATION LIMITED (HSBC) (HSBC) Hungary CITIBANK EUROPE PLC, Hungary National Bank of Hungary (NBH) Central Bank CITIBANK, N.A. United States Federal Reserve Bank (FRB), HUNGARIAN BRANCH OFFICE of Ireland Office of Comptroller of currency (OCC) FDIC

India DEUTSCHE BANK AG - Reserve (RBI) DEUTSCHE BANK AG - MUMBAI INDIA Reserve Bank of India (RBI) MUMBAI BRANCH The Securities and Exchange Board of India BRANCH The Securities and Exchange Board of India (SEBI) (SEBI) Indonesia STANDARD CHARTERED BANK, Indonesia Central Bank of Indonesia (BI) STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) INDONESIA BRANCH Indonesia Financial Service Authority (Otoritas Jasa Keuangan, OJK) Ireland CITIBANK, N.A. - Ireland Central Bank of Ireland (local oversight) CITIBANK, N.A. United States Federal Reserve Bank (FRB), BRANCH United Kingdom Financial Conduct Authority (FCA) Office of Comptroller of currency (OCC) Prudential Regulation Authority(PRU) FDIC Bank Of England

Israel BANK HAPOALIM BM Israel Bank of Israel BANK HAPOALIM BM Israel Bank of Israel Israel Securities Authority (ISA) Israel Securities Authority (ISA) Italy BNP PARIBAS SECURITIES Italy Bank of Italy BNP PARIBAS SECURITIES France Autorité de Contrôle Prudentiel (ACP) SERVICES - MILAN BRANCH Consob SERVICES Autorité des Marchés Financiers (AMF) Banque de France Japan THE BANK OF - Japan The Financial Services Agency (FSA) THE BANK OF TOKYO-MITSUBISHI Japan The Financial Services Agency (FSA) MITSUBISHI UFJ LTD. The Bank of Japan (BOJ) UFJ LTD. The Bank of Japan (BOJ) Japan Securities Dealers Association (JSDA) Japan Securities Dealers Association (JSDA) Japanese Bankers Association (JBA) Japanese Bankers Association (JBA)

Kenya STANDARD CHARTERED BANK Nairobi Stock Exchange (NSE) STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) KENYA LIMTIED Capital Markets Authority (CMA) Kuwait HSBC BANK MIDDLE EAST Kuwait Central Bank of Kuwait (CBK) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) LIMITED - KUWAIT BRANCH Kuwait Capital Market Authority (CMA) BANKING CORPORATION LIMITED (HSBC)

Latvia "SWEDBANK" AS Latvia Latvian Financial and Capital Market NORDEA BANK AB (PUBL) Sweden The Swedish Ministry of Finance Commission Swedish Financial Supervisory Authority (Finansinspektionen)

Lithuania "SWEDBANK" AB Lithuania Supervision Service unit within the Bank of NORDEA BANK AB (PUBL) Sweden The Swedish Ministry of Finance Lithuania Swedish Financial Supervisory Authority (Finansinspektionen)

3 Subcustodian and Contracting Party Regulators

Market Subcustodian/Service Domicile(s) of Regulator of subcustodian Contracting Entity Domicile(s) of contracting Regulator(s) of contracting entity Provider subcustodian entity Malaysia HSBC BANK MALAYSIA Malaysia Bank Negara Malaysia THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) BERHAD (HBMB) Malaysian Securities Commission BANKING CORPORATION LIMITED (HSBC)

Mexico BANCO NACIONAL DE Mexico Secretaria de Hacienda y Crédito Público CITIBANK, N.A. United States Federal Reserve Bank (FRB), MEXICO, SA (BANAMEX) (Hacienda)/Ministry of Finance Office of Comptroller of currency (OCC) The Mexican Central Bank FDIC Comisión Nacional Bancaria y de Valores (CNBV)

Morocco CITIBANK MAGHREB Morocco Autorité Marocaine du Marché des Capitaux CITIBANK, N.A. United States Federal Reserve Bank (FRB), (AMMC) Office of Comptroller of currency (OCC) The Central Bank Bank Al-Maghrib FDIC The Central Securities Depository (MAROCLEAR) The Exchange Office Netherlands DEUTSCHE BANK AG, Netherlands • Authority for the Financial Markets DEUTSCHE BANK AG, Netherlands Prime regulator: the Federal Financial AMSTERDAM BRANCH (“Autoriteit Financiële Markten”/“AFM”) AMSTERDAM BRANCH Supervisory Authority (Bundesanstalt für • Dutch Central Bank (“De Nederlandsche Finanzdienstleistungsaufsicht / BaFin) Bank”/“DNB”) Locally regulated by the Netherlands Authority for Financial Markets (AFM)

New Zealand THE HONGKONG AND Reserve Bank of New Zealand (RBNZ) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) SHANGHAI BANKING Financial Markets Authority (FMA) BANKING CORPORATION LIMITED CORPORATON LIMITED (HSBC) (HSBC) - NEW ZEALAND BRANCH

Nigeria STANBIC IBTC BANK PLC Nigeria Central Bank of Nigeria (CBN) STANDARD BANK OF SOUTH South African Reserve Bank (SARB) AFRICA LIMITED (SBSA) Strate (Pty) Ltd Norway SKANDINAVISKA ENSKILDA Norway Ministry of Finance SKANDINAVISKA ENSKILDA Sweden The Swedish Ministry of Finance BANKEN AB (PUBL), OSLO Financial Supervisory Authority BANKEN AB (PUBL) Swedish Financial Supervisory Authority BRANCH (Finansinspektionen) Oman HSBC BANK OMAN SAOG Oman Central Bank of Oman THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) Capital Market Authority (CMA) BANKING CORPORATION LIMITED (HSBC)

Pakistan STANDARD CHARTERED BANK Pakistan State Bank of Pakistan (SBP) STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) (PAKISTAN) LIMITIED

Peru CITIBANK DEL PERÚ S.A. Peru Superintendencia de Bancos y Seguros (SBS) CITIBANK, N.A. United States Federal Reserve Bank (FRB), Superintendencia del Mercado de Valores Office of Comptroller of currency (OCC) (SMV) FDIC

Philippines STANDARD CHARTERED BANK - Philippines Securities and Exchange Commission (SEC) STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) PHILIPPINES BRANCH Bangko Sentral ng Pilipinas (BSP)

4 Subcustodian and Contracting Party Regulators

Market Subcustodian/Service Domicile(s) of Regulator of subcustodian Contracting Entity Domicile(s) of contracting Regulator(s) of contracting entity Provider subcustodian entity Poland ING BANK SLASKI S.A. Poland Polish Financial Supervision Authority ING BANK N.V Netherlands Netherlands Authority For the Financial National Depository for Securities (NDS) Markets (AFM) General Inspector of Financial Information de Nederlandsche Bank (DNB) National Bank of Poland

Portugal BNP PARIBAS SECURITIES France Autorité de Contrôle Prudentiel (ACP) BNP PARIBAS SECURITIES France Autorité de Contrôle Prudentiel (ACP) SERVICES Autorité des Marchés Financiers (AMF) SERVICES Autorité des Marchés Financiers (AMF) Banque de France Banque de France Qatar HSBC BANK MIDDLE EAST LTD - Qatar Qatar Central Bank (QCB) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) QATAR BRANCH Qatar Financial Market Authority BANKING CORPORATION LIMITED (HSBC)

Romania CITIBANK EUROPE PLC, Romania National Bank of Romania CITIBANK, N.A. United States Federal Reserve Bank (FRB), DUBLIN - SUCURSALA Financial Supervisory Office of Comptroller of currency (OCC) ROMANIA Authority (FSA) FDIC

Central Bank of Ireland Russia AO CITIBANK Russia Central Bank of Russia CITIBANK, N.A. United States Federal Reserve Bank (FRB), Office of Comptroller of currency (OCC) FDIC

Serbia UNICREDIT BANK SERBIA JSC Serbia Securities Commission (SC) UNICREDIT BANK AUSTRIA AG Austria Austrian Financial Market Authority (FMA) National Bank of Serbia (NBS) Oesterreichische Nationalbank (OeNB)

Singapore DBS BANK LTD (DBS) Monetary Authority of Singapore (MAS) DBS BANK LTD (DBS) Singapore Monetary Authority of Singapore (MAS)

Slovakia CITIBANK EUROPE PLC, Slovakia National Bank of Slovakia CITIBANK, N.A. United States Federal Reserve Bank (FRB), POBOČKA ZAHRANIČNEJ Office of Comptroller of currency (OCC) BANKY Central Bank of Ireland FDIC

Slovenia UNICREDIT BANKA SLOVENIJA Slovenia National Bank of Slovenia (BS) UNICREDIT BANKA SLOVENIJA D.D. Slovenia National Bank of Slovenia (BS) DD Security Market Agency (ATVP) UNICREDIT BANK AUSTRIA AG Austria Security Market Agency (ATVP) Slovene AML Office Austrian Financial Market Authority (FMA) Insurance Supervision Agency Oesterreichische Nationalbank (OeNB)

South Africa STANDARD CHARTERED BANK, South Africa South Africa Reserve Bank (SARB) Financial STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) JOHANNESBURG BRANCH Services Board (FSB)

South Korea THE HONGKONG AND South Korea Bank of Korea Financial Supervisory Service THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) SHANGHAI BANKING (FSS) BANKING CORPORATION LIMITED CORPORATION LIMITED - Financial Services Commission (FSC) (HSBC) KOREA BRANCH Spain BANCO BILBAO VIZCAYA Spain Comision Nacional del Mercado de Valores BANCO BILBAO VIZCAYA Spain CNMV ARGENTARIA SA (CNMV) ARGENTARIA SA Banco de España (Bank of Spain) Banco de España (Bank of Spain)

5 Subcustodian and Contracting Party Regulators

Market Subcustodian/Service Domicile(s) of Regulator of subcustodian Contracting Entity Domicile(s) of contracting Regulator(s) of contracting entity Provider subcustodian entity Sri Lanka HONGKONG AND SHANGHAI Sri Lanka Central Bank of Sri Lanka (CBSL) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) BANKING CORPORATION The Securities and Exchange Commission of Sri BANKING CORPORATION LIMITED LIMITED SRI LANKA BRANCH Lanka (SEC) (HSBC)

Sweden SKANDINAVISKA ENSKILDA Sweden Swedish Financial Supervisory Authority SKANDINAVISKA ENSKILDA Sweden The Swedish Ministry of Finance BANKEN AB (PUBL) Finansinspektionen BANKEN AB (PUBL) Swedish Financial Supervisory Authority (Finansinspektionen) Switzerland CREDIT SUISSE Switzerland Swiss Financial Market Supervisory Authority CREDIT SUISSE (SWITZERLAND) Switzerland Swiss Financial Market Supervisory Authority (SWITZERLAND) LTD. FINMA LTD. FINMA Taiwan HSBC BANK (TAIWAN) Taiwan Financial Supervisory Commission (FSC) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) LIMITED Central Bank of the Republic of China (Taiwan) BANKING CORPORATION LIMITED (CBC) (HSBC)

Thailand THE HONGKONG AND Thailand Bank of Thailand (BOT) THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) SHANGHAI BANKING Securities and Exchange Commission (SEC) BANKING CORPORATION LIMITED CORPORATION LIMITED (HSBC) (HSBC) - THAILAND BRANCH

Transnational CLEARSTREAM BANKING SA Luxembourg Commission de Surveillance du Secteur CLEARSTREAM BANKING SA Luxembourg Commission de Surveillance du Secteur Financier Financier Banque Centrale du Luxembourg Banque Centrale du Luxembourg Transnational EUROCLEAR BANK SA NV Belgium National Bank of Belgium (NBB) Belgian EUROCLEAR BANK SA NV Belgium National Bank of Belgium (NBB) Belgian Financial Services and Markets Authority Financial Services and Markets Authority (FSMA – formerly the CBFA). (FSMA – formerly the CBFA).

Turkey DEUTSCHE BANK A.S. Turkey Central Bank of Turkey DEUTSCHE BANK A.S. Turkey Central Bank of Turkey Capital Markets Board (CMB) DEUTSCHE BANK AG Germany Capital Markets Board (CMB), Banking Banking Regulation and Supervision Agency Regulation and Supervision Agency (BRSA), (BRSA) Financial Crimes Investigation Board (MASAK) Financial Crimes Investigation Board (MASAK) The Federal Financial Supervisory Authority Takasbank (Bundesanstalt für Finanzdienstleistungsaufsicht / BaFin) German Central Bank (Deutsche Bundesbank).

Uganda STANDARD CHARTERED BANK (central bank, BoU) STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) UGANDA LIMITED United Arab HSBC BANK MIDDLE EAST United Arab Emirates The Central Bank of the United Arab Emirates THE HONGKONG AND SHANGHAI Hong Kong Hong Kong Monetary Authority (HKMA) Emirates LIMITED (CBUAE) BANKING CORPORATION LIMITED (HSBC)

United Kingdom HSBC BANK PLC United Kingdom Financial Conduct Authority (FCA) HSBC BANK PLC United Kingdom Financial Conduct Authority (FCA) Prudential Regulation Authority (PRA) Prudential Regulation Authority (PRA) United States BBH & CO United States New York State Banking Department (NYSBD) BBH&CO. United States New York State Banking Department (NYSBD) FINRA FINRA

6 Subcustodian and Contracting Party Regulators

Market Subcustodian/Service Domicile(s) of Regulator of subcustodian Contracting Entity Domicile(s) of contracting Regulator(s) of contracting entity Provider subcustodian entity Uruguay BANCO ITAU URUGUAY S.A. Uruguay Banco Central del Uruguay BANCO ITAU URUGUAY S.A. Uruguay Brazilian Central Bank ITAU UNIBANCO S.A. Brazil Brazilian Securities Commission -CVM

Zambia STANDARD CHARTERED BANK The Securities and Exchange Commision of STANDARD CHARTERED BANK United Kingdom Financial Conduct Authority (FCA) ZAMBIA LIMITED Zambia Bank of Zambia This publication is provided by Brown Brothers Harriman & Co. and its affiliates ("BBH") to recipients who are classified as Professional Clients and Eligible Counterparties if in the European Economic Area ("EEA"), solely for informational purposes. This information does not constitute legal, tax, financial or investment advice and is not intended as (i) an offer to sell or a solicitation to buy securities or investment products, (ii) an offer of services, or (iii) a recommendation to invest or not to invest in any country. Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code, or any other tax laws, rules or regulations or for promotion, marketing or recommendation to third parties. This information has (i) been obtained from sources believed to be reliable, (ii) not been independently verified, and (iii) is inherently subject to change. BBH does not make any representation or warranty as to the accuracy or completeness of the information provided and will not be responsible for any loss or damage (direct, indirect or consequential) incurred as a result of any reliance on this information. Any information provided and/or opinions expressed are subject to change without notice. Unauthorized use or distribution without the prior written permission of BBH is prohibited. This publication is approved for distribution in member states of the EEA by Brown Brothers Harriman Investor Services Limited, authorized and regulated by the Financial Conduct Authority. BBH is a service mark of Brown Brothers Harriman & Co., registered in the United States and other countries. ©Brown Brothers Harriman & Co. 2017. All rights reserved.

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