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EURO STOXX 50® Multi-Asset Indices

May, 2016

1 1. STOXX 50® - ICONIC BLUE-CHIP EQUITY INDEX

2 ® is ’s leading equity index

EURO STOXX 50 ® » Launched 1998 » 50 blue-chip companies from 12 Eurozone countries » Representative and highly liquid » Underlying for financial products » Serves as benchmark

3 Outstanding methodology ensures well-balanced supersector representation

Key facts Current index constituents

» 50 largest companies from the Eurozone GRP SOCIETE GENERALE GROUP » Superior selection method for companies ANHEUSER-BUSCH INBEV ING GRP ASML HLDG » Captures about 60% of total free-float L'OREAL LVMH MOET HENNESSY supersector leaders BASF MUENCHENER RUECK » Quarterly adjustments to ensure timely BCO BILBAO VIZCAYA ORANGE ARGENTARIA ELECTRONICS representation of markets BCO SANTANDER BMW SAINT GOBAIN » Fully rules-based and transparent concept BNP PARIBAS SAP without any subjectivity DAIMLER » AuM in ETFs: EUR37.7 bn1) TELEFONICA TOTAL 2) UNIBAIL-RODAMCO » 91,898 Structured Products issued in 2015 E.ON NV VINCI ESSILOR INTERNATIONAL VOLKSWAGEN PREF

1) Data as of Dec. 31, 2015 4 2) Data as of Dec. 31, 2015

2. EURO STOXX 50® CORPORATE BOND INDEX

5 The corporate bond index tracks the performance of EUR- denominated bonds issued by the EURO STOXX 50® companies Index methodology

» Corporate bonds from companies1) that are constituents of EURO STOXX 50® index at the Underlying bond time of the rebalancing universe

» Issuer Type: Corporate bonds, denominated in EUR Bond selection » Bond Type: Fixed and zero-coupon bonds criteria » Rating: Investment Grade (consolidated rating BBB or higher) » Time to maturity: At least 15 months measured from the respective re-balancing date » Amount outstanding: Minimum EUR 750 mn

» Formulas acc. to the international accepted EFFAS principles of fixed income indices Calculation » Index weights calculated according to market cap of selected bonds, capped per issuer methodology (20%) and industry sector (40%) » Calculated every minute in real-time, between 9:00am and 5:15pm Frankfurt time (GMT+1)2)

» Index types: Price Index, Total Return Index, main hedged and unhedged currency versions3) Index types and » Pricing source: Continuous evaluated prices from Interactive Data (IDC) data sources » Rating sources: Standard & Poor’s and Moody’s » Reference data sources: IDC and Bloomberg

Review » Index composition and weights are reviewed quarterly

1) Bond issuers are companies and their subsidiaries, which belong to the corporate group. Subordinated debt is excluded 2) Closing expected at around 7:45 pm Frankfurt time (GMT+1) 6 3) EUR, USD, GBP, JPY and CHF currencies covered; Source currency exchange rates: WM/ The index offers diversified geographical, rating and industry sector allocation Composition key figures1)

Geographical allocation Industry sector allocation

10.9% 2.5% 6.0% Financials 10.1% 29.2% 9.0% 40.0% Consumer Goods Utilities 10.4% Telecommunications 13.0% Oil & Gas Others Industrials 10.5% Others 21.2% 15.6% 21.6% Rating allocation Weighted average index analytics

7.5% Weighted Average Bid Yield to Maturity 0.852

10.2% Weighted Average Bid Duration 5.067 42.8% BBB A Weighted Average Bid Modified Duration 5.024 AAA Weighted Average Bid Convexity 0.407 AA Weighted Average Remaining Time to Maturity 5.549

39.5% Weighted Average Coupon 3.006

1) Data as of Apr. 1, 2016. Weightings based on capped market cap 7 3. EURO STOXX 50® MULTI-ASSET INDICES

8 Liquid solution for cross-asset diversification: blue-chip equities and fixed income within the EURO STOXX 50 universe Efficient portfolios for every investor profile and macro environment

Cross-asset investment case Risk and return over 5 year period

» Different combinations of EQ and BI indices 60% result in efficient portfolios constructed according to individual risk preferences 50%

» The advantage in efficiency compared to a 40% stand-alone equity investment provides the grounds for cross-asset investments 30%

Return (p.a.)Return 20% » Expected returns are mostly higher by shifting from debt to equity, where higher returns 10% come along with taking on additional risk 0% » Accessible index methodology 0% 10% 20% 30% 40% 50% 60% Volatility (p.a.) » Real-time calculation of highest robustness 1 Year 2 Years 3 Years 4 Years 5 Years and credibility for enhanced market transparency

1) Combinations of EURO STOXX 50 Corporate Bond (EUR Total Return) and EURO STOXX 50 (EUR Gross Return) calculated based on median returns for time horizons ranging from 1 year to 5 years. Time period: Dec. 31, 2010 to Apr. 29, 2016. 9 The concept allows a more diversified and balanced approach in all its combinations of bond and equity exposure Strategic asset allocation options

High High Growth Growth Balanced Stability Stability

20% 20% 40% 40% 60% 50% 50% 60% 80% 80%

EURO STOXX 50 Equity Index Allocation EURO STOXX 50 Corporate Bond Index Allocation

10 Straightforward, transparent and rules-based methodology, making the concept fully accessible and coherent for investors Index methodology

» EURO STOXX 50® and EURO STOXX 50® Corporate Bond Index Underlying Indices

» Pre-defined weights are applied to the parent benchmarks Calculation » Index weights are assigned at each rebalancing date according to different strategies methodology » Calculated in real-time, between 9:00am and 5:15pm Frankfurt time (GMT+1)

» Index types: Price Index, Total Return Index Index types and » Currency: EUR currency

» Base value: 100 Base value and » Base date: Dec. 31, 2010 base date

Review » Index weights are assigned quarterly at the last trading day of March, June, September and December

11 “High Growth” – for investors with a high risk appetite and long-term perspective for superior returns. Portfolio with 20% bonds, 80% equity.

Performance comparison Descriptive statistics 180 EURO STOXX 50 EURO STOXX 50 Multi-Asset EURO STOXX 50 Corporate Bond High Growth 160 Return 1y (ann.) -10.1% 1.0% -17.2% Return 3y (ann.) 6.6% 140 4.0% 7.5% Return 5y (ann.) 4.7% 5.4% 3.9% Return Overall 5.7% 30.5% 30.1% 120 Volatility 1y 19.8% 2.3% 24.6% (ann.) Volatility 3y 15.7% 2.0% 19.7% 100 (ann.) Volatility 5y 17.3% 2.4% 21.8% (ann.) 80 Volatility Overall 17.1% 5.6% 50.4% Sharpe Ratio 1y2) -0.5 0.5 -0.6

60 Sharpe Ratio 3y2) 0.5 2.0 0.5 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Sharpe Ratio 5y2) 0.3 2.2 0.3 Maximum EURO STOXX 50® Multi-Asset High Growth (TR) -25.8% -3.3% -32.7% Drawdown EURO STOXX 50 Corporate Bond Index (TR) EURO STOXX 50 Index (GR)

1) Data from Dec. 31, 2010 until Apr. 29, 2016 12 2) EONIA rate is used as risk-free rate “Growth” – for investors who tolerate risk and expect sound long-term returns. Portfolio with 40% bonds, 60% equity.

Performance comparison Descriptive statistics 180 EURO STOXX 50 EURO STOXX 50 Multi-Asset EURO STOXX 50 Corporate Bond Growth 160 Return 1y (ann.) -7.3% 1.0% -17.2% Return 3y (ann.) 5.9% 140 4.0% 7.5% Return 5y (ann.) 5.0% 5.4% 3.9% Return Overall 5.7% 30.5% 30.1% 120 Volatility 1y 14.7% 2.3% 24.6% (ann.) Volatility 3y 11.8% 2.0% 19.7% 100 (ann.) Volatility 5y 12.8% 2.4% 21.8% (ann.) 80 Volatility Overall 12.6% 5.6% 50.4% Sharpe Ratio 1y2) -0.5 0.5 -0.6

60 Sharpe Ratio 3y2) 0.6 2.0 0.5 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Sharpe Ratio 5y2) 0.4 2.2 0.3 Maximum EURO STOXX 50® Multi-Asset Growth (TR) -18.8% -3.3% -32.7% Drawdown EURO STOXX 50 Corporate Bond Index (TR) EURO STOXX 50 Index (GR)

1) Data from Dec. 31, 2010 until Apr. 29, 2016 13 2) EONIA rate is used as risk-free rate “Balanced” – moderate strategy balancing between stability and appreciation, expecting moderate level of risk and return. Portfolio 50% bonds, 50% equity.

Performance comparison Descriptive statistics 180 EURO STOXX 50 EURO STOXX 50 Multi-Asset EURO STOXX 50 Corporate Bond Balanced 160 Return 1y (ann.) -5.9% 1.0% -17.2% Return 3y (ann.) 5.6% 140 4.0% 7.5% Return 5y (ann.) 5.1% 5.4% 3.9% Return Overall 5.6% 30.5% 30.1% 120 Volatility 1y 12.2% 2.3% 24.6% (ann.) Volatility 3y 9.8% 2.0% 19.7% 100 (ann.) Volatility 5y 10.5% 2.4% 21.8% (ann.) 80 Volatility Overall 10.4% 5.6% 50.4% Sharpe Ratio 1y2) -0.5 0.5 -0.6

60 Sharpe Ratio 3y2) 0.6 2.0 0.5 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Sharpe Ratio 5y2) 0.5 2.2 0.3 Maximum EURO STOXX 50® Multi-Asset Balanced (TR) -15.3% -3.3% -32.7% Drawdown EURO STOXX 50 Corporate Bond Index (TR) EURO STOXX 50 Index (GR)

1) Data from Dec. 31, 2010 until Apr. 29, 2016 14 2) EONIA rate is used as risk-free rate “Stability” – for investors willing to take some risk with general medium-term investment horizon. Portfolio with 60% bonds, 40% equity.

Performance comparison Descriptive statistics 180 EURO STOXX 50 EURO STOXX 50 Multi-Asset EURO STOXX 50 Corporate Bond Stability 160 Return 1y (ann.) -4.5% 1.0% -17.2% Return 3y (ann.) 5.2% 140 4.0% 7.5% Return 5y (ann.) 5.2% 5.4% 3.9% Return Overall 5.6% 30.5% 30.1% 120 Volatility 1y 9.8% 2.3% 24.6% (ann.) Volatility 3y 7.9% 2.0% 19.7% 100 (ann.) Volatility 5y 8.3% 2.4% 21.8% (ann.) 80 Volatility Overall 8.2% 5.6% 50.4% Sharpe Ratio 1y2) -0.5 0.5 -0.6

60 Sharpe Ratio 3y2) 0.7 2.0 0.5 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Sharpe Ratio 5y2) 0.6 2.2 0.3 Maximum EURO STOXX 50® Multi-Asset Stability (TR) -12.1% -3.3% -32.7% Drawdown EURO STOXX 50 Corporate Bond Index (TR) EURO STOXX 50 Index (GR)

1) Data from Dec. 31, 2010 until Apr. 29, 2016 15 2) EONIA rate is used as risk-free rate “High Stability” – for cautious investors with general short to medium-term investment horizon. Portfolio with 80% bonds, 20% equity.

Performance comparison Descriptive statistics 180 EURO STOXX 50 EURO STOXX 50 Multi-Asset EURO STOXX 50 Corporate Bond High Stability 160 Return 1y (ann.) -1.7% 1.0% -17.2% Return 3y (ann.) 140 4.3% 4.0% 7.5% Return 5y (ann.) 5.3% 5.4% 3.9% Return Overall 5.3% 30.5% 30.1% 120 Volatility 1y 5.1% 2.3% 24.6% (ann.) Volatility 3y 4.2% 2.0% 19.7% 100 (ann.) Volatility 5y 4.2% 2.4% 21.8% (ann.) 80 Volatility Overall 4.2% 5.6% 50.4% Sharpe Ratio 1y2) -0.4 0.5 -0.6

60 Sharpe Ratio 3y2) 1.1 2.0 0.5 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Sharpe Ratio 5y2) 1.2 2.2 0.3 Maximum EURO STOXX 50® Multi-Asset High Stability (TR) -6.5% -3.3% -32.7% Drawdown EURO STOXX 50 Corporate Bond Index (TR) EURO STOXX 50 Index (GR)

1) Data from Dec. 31, 2010 until Apr. 29, 2016 16 2) EONIA rate is used as risk-free rate STOXX offices and contacts

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17 Disclaimer

The indices in the presentation and the trademarks used in the index names are the intellectual property of STOXX Ltd., Deutsche Börse Group or their licensors. The use of the STOXX® indices, DAX® indices or on any other indices supported by STOXX and of the respective index data for financial products or for other purposes requires a license from STOXX or Deutsche Börse Group. STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data. STOXX, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on STOXX® indices, DAX® indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Börse Group and their licensors, research partners or data providers.

About STOXX STOXX Ltd. is an established and leading index specialist, which started in Europe. The launch of the first STOXX® indices in 1998, including the EURO STOXX 50® Index, marked the beginning of a unique success story, based on the company’s neutrality and independence. Since then, STOXX has been at the forefront of market developments and has continuously expanded its portfolio of innovative indices. STOXX now operates globally across all asset classes. STOXX indices are licensed to more than 500 companies, which include the world’s largest financial products issuers, capital owners and asset managers. STOXX indices are used not only as underlyings for financial products, such as ETFs, futures and options and structured products but also for risk and performance measurement. In addition, STOXX Ltd. is the marketing agent for DAX® and SMI® indices.

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