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Solactive-Bluestar Israel Economic Exposure Indexes Utilize the Constituents of Its Parent Index, the Bluestar Israel Global Index – Total Investable Market (BITM)

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Solactive-Bluestar Israel Economic Exposure Indexes Utilize the Constituents of Its Parent Index, the Bluestar Israel Global Index – Total Investable Market (BITM) Solactive-BlueStar Israel Fact Sheet Economic Exposure Indexes Data as of Mar. 31, 2019 The Solactive-BlueStar Israel Domestic Exposure Index (IDEI) and Solactive-BlueStar Global Exposure Index (IGEI) provide investors with two distinct benchmarks for Israeli equities – designed to reflect the segmentation of the Israeli economy between globally-oriented firms and companies primarily focused on serving the domestic economy. These indexes can be used as vital indicators of Israel’s economic cycles and specific economic trends, as well as tools or vehicles to track the potential risk of geopolitical events in the volatile Middle East. Additionally, these indexes provide insight into the different risk, reward, correlation, yield and other technical and fundamental characteristics of Israeli Global Equities representing Israel’s domestic and global economies. The Solactive-BlueStar Israel Economic exposure indexes utilize the constituents of its parent index, the BlueStar Israel Global Index – Total Investable Market (BITM). The index methodologies define a company’s economic exposure by the percentage of its revenues derived from the target economic zone – revenue from within Israel for IDEI and revenue from outside of Israel for IGEI. In addition the index methodology provides for several diversification and liquidity limitations. Finally, the index methodology takes into account the importance of balanced, yet representative, sector exposure and diversification within sectors. 9-Year Performance 200 175 150 125 100 75 50 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 TA-125 BIGI MSCI EAFE Israel Domestic Exposure Israel Global Exposure www.bluestarindexes.com 1 Solactive-BlueStar Israel Domestic Exposure Fact Sheet Index Total Return (IDEITR) Data as of Mar. 31, 2019 INDEX OVERVIEW The Solactive-BlueStar Israel Domestic Exposure Index was developed in partnership by BlueStar Indexes and Solactive AG and is calculated, published and distributed by Solactive AG. The objective of the index is to provide an investable benchmark for investors seeking concentrated exposure to the domestic Israeli equity opportunity. The index includes all companies that are constituents of the parent index, the BlueStar Israel Global Total Market Index (BIGI-TIM), a broad and deep benchmark of Israeli Global Equities, and derive 70% or more of annual revenue from within Israel. The index methodology seeks balanced representation of each sector that is important to all non-export-driven sectors of the economy and non-export components of Israel’s GDP represented in the publicly-traded equities markets. The index takes the same global approach to benchmarking as its parent index by considering companies for inclusion regardless of listing venue. The index utilizes proprietary data from FactSet in determining a company’s geographical revenue exposure. The index is published on a price, net total and gross total return basis in USD and recent prices can be found on Solactive’s website or on the Thomson Reuters Eikon system. Top Ten Index Constituents GICS Sector/Industry Exposure Company Index Weight (%) Sector IDEI Weight (%) BIGI Weight (%) Bank Hapoalim Bm 6.39 Financials 36.71 19.09 Bank Leumi Le-israel 6.30 Real Estate 16.26 7.64 Israel Discount Bank-a 5.62 Energy 16.05 2.57 Mizrahi Tefahot Bank Ltd 5.13 Consumer Staples 9.11 1.46 Azrieli Group Ltd 5.12 Communication Services 6.91 1.48 Industrials 6.65 5.32 Shufersal Ltd 4.62 Consumer Discretionary 3.37 1.97 Delek Group Ltd 4.39 Information Technology 2.71 43.19 Paz Oil Co Ltd 4.12 Utilities 2.04 2.35 Bezeq The Israeli Telecom Co 3.98 Health Care 0.20 12.18 Delek Drillin - Lp 3.89 Materials - 2.76 Total 49.57 Internal Index Data Index Statistics No. of Securities 56 Currency USD Total Index Market Cap $76.9 billion Max Market Cap $9.0 billion Min Market Cap $156.7 million Weighted Average Market Cap $2.8 billion Listing Venue Weight (%) Weight on TASE 96 Dual-Listed 4 Market Cap- Segmentation (%) > $5 Billion 18 $750 Million to $5 Billion 63 < $750 Million 19 www.bluestarindexes.com 2 Solactive-BlueStar Israel Global Exposure Fact Sheet Index Total Return (IGEITR) Data as of Mar. 31, 2019 INDEX OVERVIEW The Solactive-BlueStar Israel Global Exposure Index was developed in partnership by BlueStar Indexes and Solactive AG and is calculated, published and distributed by Solactive AG. The objective of the index is to provide an investable benchmark for investors seeking concentrated exposure to the segment of the Israeli equity opportunity that best represents Israel's global economic footprint. The index includes all companies that are constituents of the parent index, the BlueStar Israel Global Total Market Index (BIGI-TIM), a broad and deep benchmark of Israeli Global Equities, and derive 70% or more of annual revenue from outside Israel. The index methodology seeks balanced representation of each export-driven sector of the Israeli economy and GDP, and to those companies with significant operating activities outside of Israel represented in the publicly-traded equities markets. The index takes the same global approach to benchmarking as its parent index by considering companies for inclusion regardless of listing venue. The index utilizes proprietary data from FactSet in determining a company’s geographical revenue exposure. The index is published on a price, net total and gross total return basis in USD and recent prices can be found on Solactive’s website or on the Thomson Reuters Eikon system. Top Ten Index Constituents GICS Sector/Industry Exposure Company Index Weight (%) Sector IGEI Weight (%) BIGI WEIGHT (%) Novocure Ltd 6.51 Information Technology 36.51 43.19 Elbit Systems Ltd 6.47 Health Care 22.94 12.18 Israel Chemicals Ltd 6.02 Industrials 13.26 5.32 Teva Pharmaceutical Ind Ltd 5.74 Materials 9.63 2.76 Taro Pharmaceutical Indus 5.11 Real Estate 5.98 7.64 Check Point Software Tech 4.31 Consumer Discretionary 4.90 1.97 Israel Corp Limited/The 3.80 Utilities 3.25 2.35 Gazit Globe Ltd 3.36 Communication Services 2.17 1.48 Amdocs Ltd 3.35 Financials 1.36 19.09 Ormat Technologies Inc 3.22 Energy - 2.57 Total 47.88 Consumer Staples - 1.46 Internal Index Data Index Statistics No. of Securities 58 Currency USD Total Index Market Cap $111.3 billion Max Market Cap $16.9 billion Min Market Cap $69.4 million Weighted Average Market Cap $4.0 billion Listing Venue Weight (%) Weight on NYSE/Nasdaq Only 44 Weight on TASE Only 9 Dual-Listed 39 Weight on LSE/Singapore/ASX 11 Market Cap- Segmentation (%) > $5 Billion 22 $750 Million to $5 Billion 49 < $750 Million 29 www.bluestarindexes.com 3 Solactive-BlueStar Israel Economic Exposure Fact Sheet Indexes Historical Risk and Returns Data Data as of Mar. 31, 2019 IEEI Performance Relative to Israel Total Investable Market Trailing Twelve Month Comparative Total Returns 160 Index Since 2009 150 120 140 130 110 120 110 100 100 90 90 80 80 3/31/2018 6/30/2018 9/30/2018 12/31/2018 3/31/2019 Israel Domestic Exposure Israel Global Exposure Israel Domestic Exposure Israel Global Exposure Israel Total Investable Market IEEI Relative Performance Since 2009 160 150 140 130 120 110 100 90 80 70 1/1/2009 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019 Israel Domestic Relative to Israel Global 50-Day SMA 200-Day SMA 4 Solactive-BlueStar Israel Economic Exposure Fact Sheet Indexes Historical Risk and Returns Data Data as of Mar. 31, 2019 INDEX RISK AND RETURN DATA Long- Term Total Returns (%) Long-Term Risk: (Standard Deviation of Returns)* (%) YTD 1yr 3yrs.* 5yrs.* YTD 1 yr 3yrs.* 5yrs.* EAFE 10.13 (3.22) 7.80 2.81 EAFE 13.16 13.16 10.48 11.79 MSCI EM 9.95 (7.06) 11.09 4.06 MSCI EM 15.34 15.34 13.03 15.25 TA-125 9.51 4.67 5.52 1.23 TA-125 18.24 18.24 13.79 14.34 BIGI 12.85 8.02 6.41 2.13 BIGI 19.68 19.68 13.76 13.36 IGEI 12.58 6.35 11.31 5.50 IGEI 22.20 22.20 14.87 14.26 IDEI 6.72 (1.73) 11.80 2.83 IDEI 17.11 17.11 14.58 15.75 Five Year Correlations MSCI EM EAFE TA-125 BIGI IGEI IDEI MSCI EM 1.00 EAFE 0.79 1.00 TA-100 0.48 0.71 1.00 BIGI 0.52 0.72 0.88 1.00 IGEI 0.56 0.74 0.67 0.95 1.00 IDEI 0.49 0.65 0.51 0.76 0.69 1.00 *Annualized © 2019 BlueStar Global Investors, LLC 5.
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