I NDEX G UIDELINE
SOLACTIVE L&G LOW CARBON TRANSITION FAMILY

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INDEX GUIDELINETABLE OF CONTENTS
Introduction .............................................................................................................................................................................................................................. 3
1.

Index Specifications ................................................................................................................................................................................................... 4
1.1.

Scope of the Index ................................................................................................................................................................................................ 4

1.2.

Identifiers and Publication ................................................................................................................................................................................ 4

1.3.

Initial Level of the Index ..................................................................................................................................................................................... 6

1.4.

Prices and calculation frequency ................................................................................................................................................................... 7

1.5.

Licensing.................................................................................................................................................................................................................. 7

2.

Index Selection ............................................................................................................................................................................................................ 8
2.1.

Index Universe Requirements........................................................................................................................................................................... 8

2.2.

Selection of the Index Components ............................................................................................................................................................... 8

2.3.

Weighting of the Index Components .............................................................................................................................................................. 93.

Rebalance ....................................................................................................................................................................................................................14
3.1.

Ordinary Rebalance ............................................................................................................................................................................................19

3.2.

Extraordinary Rebalance ..................................................................................................................................................................................19

4.

Calculation of the Index ......................................................................................................................................................................................... 20
4.1.

Index formula ....................................................................................................................................................................................................... 20

4.2.

Accuracy ................................................................................................................................................................................................................ 20

4.3. Adjustments ......................................................................................................................................................................................................... 20
4.4. Corporate actions ................................................................................................................................................................................................ 21
4.5. Recalculation ....................................................................................................................................................................................................... 224.6. Market Disruption ............................................................................................................................................................................................... 22
5.

Miscellaneous ............................................................................................................................................................................................................ 23
5.1.

Discretion .............................................................................................................................................................................................................. 23

5.2.

Methodology Review.......................................................................................................................................................................................... 23

5.3. Changes in calculation method ..................................................................................................................................................................... 23
5.4. Termination .......................................................................................................................................................................................................... 24
5.5.
6.

Oversight ............................................................................................................................................................................................................... 24

Definitions ................................................................................................................................................................................................................... 25

Contact ..................................................................................................................................................................................................................................... 26

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INDEX GUIDELINEINTRODUCTION
This document (the “GUIDELINE”) is to be used as a guideline with regard to the composition, calculation andmaintenance of the Solactive L&G Low Carbon Transition Family (the “INDEX”). Any amendments to therules made to the GUIDELINE are approved by the OVERSIGHT COMMITTEE specified in Section 5.5. The INDEX isowned, calculated, administered and published by Solactive AG (“SOLACTIVE”) assuming the role asadministrator (the “INDEX ADMINISTRATOR”) under the Regulation (EU) 2016/1011 (the “BENCHMARKREGULATION” or “BMR”). The name “Solactive” is trademarked.

The text uses defined terms which are formatted with “SMALL CAPS”. Such Terms shall have the meaning
assigned to them as specified in Section 6 (Definitions).
The GUIDELINE and the policies and methodology documents referenced herein contain theunderlying principles and rules regarding the structure and operation of the INDEX. SOLACTIVE does
not offer any explicit or tacit guarantee or assurance, neither pertaining to the results from the useof the INDEX nor the level of the INDEX at any certain point in time nor in any other respect. SOLACTIVE
strives to the best of its ability to ensure the correctness of the calculation. There is no obligationfor SOLACTIVE – irrespective of possible obligations to issuers – to advise third parties, including
investors and/or financial intermediaries, of any errors in the INDEX. The publication of the INDEX by
SOLACTIVE does not constitute a recommendation for capital investment and does not contain any
assurance or opinion of SOLACTIVE regarding a possible investment in a financial instrument basedon this INDEX.

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1.

INDEX SPECIFICATIONS

1.1.

SCOPE OF THE INDEX

Category
Asset Class

Description
EquityClimate-tilted strategy which seeks to self-decarbonise by
reducing exposure to carbon emissions over time aligning tocarbon transition.
Developed and Emerging Markets [Global]
Semi-Annually

Strategy
Regional Allocation
Rebalancing Fee
Rebalancing Frequency

1.2. IDENTIFIERS AND PUBLICATIONThe INDEX is published under the following identifiers:
Name
Solactive L&G Low Carbon
Transition Global GBP Index
PR
Solactive L&G Low Carbon
Transition Global GBP Index
NTR
Solactive L&G Low Carbon
Transition Global GBP Index
TR
Solactive L&G Low Carbon
Transition Developed
Markets GBP Index PR
Solactive L&G Low Carbon
Transition Developed
Markets GBP Index NTR
Solactive L&G Low Carbon
Transition Developed
Markets GBP Index TR

ISIN

Currency Type RIC

BBG ticker

DE000SL0B3Y6

GBP

PR*

-

DE000SL0B3Z3

GBP

NTR* .SLCTBGMN SLCTBGMN

DE000SL0B301

GBP

GTR* .SLCTBGMT-

DE000SL0B319

GBP

PR*

-

DE000SL0B8Q1

GBP

NTR* .SLCTBDMN SLCTBDMN

DE000SL0B8R9GBP

GTR* .SLCTBDMT.SLCTBGMP.SLCTBDMP-

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Solactive L&G Low Carbon
Transition UK GBP Index PR
Solactive L&G Low Carbon
Transition UK GBP Index
NTR
Solactive L&G Low Carbon
Transition UK GBP Index TR
Solactive L&G Low Carbon
Transition Europe ex UK
GBP Index PR
Solactive L&G Low Carbon
Transition Europe ex UK
GBP Index NTR
Solactive L&G Low Carbon
Transition Europe ex UK
GBP Index TR
Solactive L&G Low Carbon
Transition North America
GBP Index PR
Solactive L&G Low Carbon
Transition North America
GBP Index NTR
Solactive L&G Low Carbon
Transition North America
GBP Index TR
Solactive L&G Low Carbon
Transition Japan GBP Index
PR
Solactive L&G Low Carbon
Transition Japan GBP Index
NTR
Solactive L&G Low Carbon
Transition Japan GBP Index
TR
Solactive L&G Low Carbon
Transition APAC ex Japan
GBP Index PR
Solactive L&G Low Carbon
Transition APAC ex Japan
GBP Index NTR

DE000SL0B8S7

GBP

PR*

.SLCTBGBP

DE000SL0B8T5

GBP

NTR* .SLCTBGBNSLCTBGBN

DE000SL0BNU3GBP

GTR* .SLCTBGBT-

DE000SL0BNV1

GBP

PR*

-

.SLCTBEBP-

DE000SL0BNW9 GBP

NTR* .SLCTBEBNSLCTBEBN

DE000SL0BNX7

GBP

GTR* .SLCTBEBT-

DE000SL0BNY5

GBP

PR*

-

DE000SL0BNZ2GBP

NTR* .SLCTBNANSLCTBNAN

DE000SL0BN06

GBP

GTR* .SLCTBNAT-

DE000SL0BN14

GBP

PR*

-

DE000SL0BN22

GBP

NTR* .SLCTBJPNSLCTBJPN

DE000SL0BN30

GBP

GTR* .SLCTBJPT-

DE000SL0BN48

GBP

PR*

-

DE000SL0BN55

GBP

NTR* .SLCTBPJN.SLCTBNAP.SLCTBJPP.SLCTBPJPSLCTBPJN

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Solactive L&G Low Carbon
Transition APAC ex Japan
GBP Index TR
Solactive L&G Low Carbon
Transition Emerging
Markets GBP Index PR
Solactive L&G Low Carbon
Transition Emerging
Markets GBP Index NTR
Solactive L&G Low Carbon
Transition Emerging
Markets GBP Index TR

DE000SL0BN63

GBP

GTR* .SLCTBPJT-

DE000SL0BN71

GBP

PR*

-

DE000SL0BN89

GBP

NTR* .SLCTBEMNSLCTBEMN

DE000SL0BN97

GBP

GTR* .SLCTBEMT-.SLCTBEMP*PR, NTR, GTR means that the Index is calculated as price return, net total return, gross total return Index as described in the Equity Index Methodology, whichis available on the SOLACTIVE website: https://www.solactive.com/documents/equity-index-methodology/

The INDEX is published on the website of the INDEX ADMINISTRATOR (www.solactive.com) and is, in addition,
available via the price marketing services of Boerse Stuttgart GmbH and may be distributed to all of its
affiliated vendors. Each vendor decides on an individual basis as to whether it will distribute or display the
INDEX via its information systems.
Any publication in relation to the INDEX (e.g. notices, amendments to the GUIDELINE) will be available at thewebsite of the INDEX ADMINISTRATOR: https://www.solactive.com/news/announcements/.

1.3. INITIAL LEVEL OF THE INDEXThe initial level of the INDEX on the START DATE is 1000. Historical values from the LIVE DATE will be recordedin accordance with Article 8 of the BMR. The START DATE and LIVE DATE of the INDEX is indicated in the tablebelow:

Index

START DATELIVE DATESolactive L&G Low Carbon Transition Global GBP Index

8 May 2017
7 May 2015
7 May 2015
7 May 2015
7 May 2015
7 May 2015
7 May 2015
8 May 201730 December 2020
30 December 2020
30 December 2020
30 December 2020
30 December 2020
30 December 2020
30 December 2020
30 December 2020

Solactive L&G Low Carbon Transition Developed Markets GBP Index
Solactive L&G Low Carbon Transition UK GBP Index
Solactive L&G Low Carbon Transition Europe ex UK GBP Index
Solactive L&G Low Carbon Transition North America GBP Index
Solactive L&G Low Carbon Transition Japan GBP Index
Solactive L&G Low Carbon Transition APAC ex Japan GBP Index
Solactive L&G Low Carbon Transition Emerging Markets GBP Index

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Levels of the INDEX published for a period prior to the LIVE DATE have been back-tested.

1.4. PRICES AND CALCULATION FREQUENCY
The level of the INDEX is calculated on each CALCULATION DAY from 1:00 a.m. to 10:50 p.m. CET based on the
TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed. TRADING PRICES of INDEXCOMPONENTS not listed in the INDEX CURRENCY are converted using the current Intercontinental Exchange(ICE) spot foreign exchange rate. Should there be no current TRADING PRICE for an INDEX COMPONENT, the laterof: (i) the most recent CLOSING PRICE; or (ii) the last available TRADING PRICE for the preceding TRADING DAY isused in the calculation.
In addition to the intraday calculation a closing level of the INDEX for each CALCULATION DAY is also
calculated. This closing level is based on the CLOSING PRICES for the INDEX COMPONENTS on the respective
EXCHANGES on which the INDEX COMPONENTS are listed. The CLOSING PRICES of INDEX COMPONENTS not listed in
the INDEX CURRENCY are converted using the 04:00 p.m. London time WM Fixing quoted by Reuters. If there
is no 04:00 p.m. London time WM Fixing for the relevant CALCULATION DAY, the last available 04:00 p.m.
London time WM Fixing will be used for the closing level calculation.

1.5. LICENSING
Licenses to use the INDEX as the underlying value for financial instruments, investment funds and financial
contracts may be issued to stock exchanges, banks, financial services providers and investment houses by
SOLACTIVE.

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2.

INDEX SELECTION

On each SELECTION DAY, the INDEX ADMINISTRATOR will revise the composition of the INDEX.
In a first step, the INDEX ADMINISTRATOR determines the INDEX UNIVERSE in accordance with Section 2.1. The
INDEX UNIVERSE comprises all those financial instruments which fulfill the INDEX UNIVERSE REQUIREMENTS (asspecified in Section 2.1) and will constitute a starting pool from which the components of the INDEX will beselected. Based on this INDEX UNIVERSE, the new composition of the INDEX will be determined by applying therules outlined in Section 2.2.
Each new INDEX COMPONENT will be assigned a weight as described in Section 2.3.

2.1.

INDEX UNIVERSE REQUIREMENTS

The INDEX UNIVERSE is comprised of all financial instruments which fulfill the below requirements(the “INDEX UNIVERSE REQUIREMENTS“):•Part/ Component of the GBS INDEX UNIVERSE of the Solactive GBS Global Markets Large & Mid Cap
USD Index PR (ISIN: DE000SLA7729), on a SELECTION DAY.

The determination of the INDEX UNIVERSE is fully rule-based and the INDEX ADMINISTRATOR cannot make any
discretionary decisions.

2.2. SELECTION OF THE INDEX COMPONENTS
Based on the INDEX UNIVERSE, the initial composition of the INDEX as well as any selection for an ordinary
rebalance is determined on the SELECTION DAY in accordance with the following rules:
SOLACTIVE evaluates all companies in the respective INDEX UNIVERSE based on the criteria outlined in the
Future World Protection List (the “FWPL”) produced by DATA PROVIDER 1. Any company listed on the FWPL
are then excluded. The FWPL is reconstituted on a semiannual basis in March and September. The
methodology by reference to which the FWPL is constructed is available here:
https://www.lgim.com/landg-assets/lgim/_document-library/capabilities/future-world-protection-listpublic-methodology.pdf. All companies for which an evaluation of these exclusion criteria is not possible due to insufficient and/or
missing information or data are excluded.
The remaining companies constitute the respective INDEX (the “INDEX COMPONENT REQUIREMENTS“).

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The selection of the INDEX COMPONENTS is fully rule-based and the INDEX ADMINISTRATOR cannot make any
discretionary decision.

2.3. WEIGHTING OF THE INDEX COMPONENTS
On each SELECTION DAY each INDEX COMPONENT is assigned a weight based on the steps described below:
A. Regional Assignment
Each security within the INDEX UNIVERSE as well as each INDEX COMPONENT will be attributed to one country
based on Solactive’s country assignment procedure performed during the selection of the Solactive GBS
family. This way corresponding REGIONAL UNIVERSES (based on the INDEX UNIVERSE components) andcorresponding REGIONAL INDICES (based on the INDEX COMPONENTS) are constructed. This is described in theguideline for the Solactive GBS family published under: Solactive Global Benchmark Series Guideline. The
regions considered include North America, Europe ex United Kingdom, United Kingdom, APAC ex Japan,
Japan and Emerging Markets and are constructed based on the table below:
Country

REGIONAL INDEX

Canada, United States

North America

Austria, Belgium, Switzerland, Germany, Denmark, Spain,
Finland, France, Ireland, Italy, Israel, Netherlands,
Norway, Portugal, Sweden

Europe ex United Kingdom

United Kingdom

United Kingdom

Australia, Hong Kong, New Zealand, Singapore

APAC ex Japan

Japan

Japan

Argentina, Brazil, Chile, China, Colombia, Czech Republic,
Egypt, Greece, Hungary, India, Indonesia, Kuwait,
Malaysia, Mexico, Pakistan, Peru, Philippines, Qatar,
Russia, Saudi Arabia, South Africa, South Korea, Taiwan,
Thailand, Turkey, United Arab Emirates

Emerging Markets

The respective allocation is subject to changes in the Solactive Country Classification Framework.
B. Carbon Score Calculation
For each INDEX COMPONENT a Carbon Score is calculated. The Score Calculation is relative to the region an
INDEX COMPONENT is assigned to. Scores for INDEX COMPONENTS assigned to North America, Europe ex United
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Kingdom, United Kingdom, APAC es Japan, and Japan are relative to all INDEX COMPONENTS assigned to anyof these REGIONAL INDICES taken together as one SUPRA-REGIONAL INDEX. Scores for INDEX COMPONENTS
assigned to Emerging Markets are relative to all INDEX COMPONENTS assigned to this REGIONAL INDEX. The
Carbon Score calculation uses data provided by the DATA PROVIDER 2 and is based on 3 separate scores:
1. Carbon Emissions Intensity Score:a. Carbon Emissions Intensity is calculated by dividing the cumulative scope 1 and scope 2
emissions by the Enterprise Value including Cash as of the latest fiscal year end of the
INDEX COMPONENT. If the Enterprise Value of the INDEX COMPONENT was zero or no Carbon
Emissions could be assigned, the INDEX COMPONENT does not receive a Carbon Emissions
Intensity or a Carbon Emissions Intensity Score.
b. The Carbon Emissions Intensity of each INDEX COMPONENT is standardized by applying thefollowing formula
𝐶𝐸𝐼𝑆,𝑖 =𝐶𝐸𝐼𝑖 − 𝜇𝐶𝐸𝐼
𝜎𝐶𝐸𝐼

Where
𝐶𝐸𝐼𝑖 = Carbon Emissions Intensity of INDEX COMPONENT i
𝐶𝐸𝐼𝑆,𝑖 = Standardized Carbon Emissions Intensity of INDEX COMPONENT i𝜇𝐶𝐸𝐼 = The average Carbon Emissions Intensity across all INDEX COMPONENTS with eligible
Carbon Emissions Intensity
𝜎𝐶𝐸𝐼 = The standard deviation across the Carbon Emissions Intensity of all INDEXCOMPONENTS with eligible Carbon Emissions Intensity
c. If one or more INDEX COMPONENTS receive a 𝐶𝐸𝐼𝑆,𝑖 of smaller than -3 or larger than +3, the
𝐶𝐸𝐼𝑆,𝑖 of each such INDEX COMPONENT is winsorized to -3 and +3. Afterwards, steps b. and c.
are applied again.
d. Steps b. and c. are applied in an iterative manner, until each INDEX COMPONENT receives a
𝐶𝐸𝐼𝑆,𝑖 of minimum -3 and maximum +3.
e. Based on the 𝐶𝐸𝐼𝑆,𝑖 calculated in d., each INDEX COMPONENT receives an S Score, 𝑆𝑖 , byapplying the standard normal distribution function.
f.

The Carbon Emissions Intensity Score for each Index Component, 𝑆𝑐𝑜𝑟𝑒𝐶𝐸𝐼,𝑖 , is derived bytransforming 𝑆𝑖 to have boundaries between -1 and +1 and then multiplying with -1:
𝑆𝑐𝑜𝑟𝑒𝐶𝐸𝐼,𝑖 = (2 × 𝑆𝑖 − 1) × (−1)

2. Carbon Reserves Intensity Score:a. Coal Reserves Intensity Score:
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i. Coal Reserves Intensity is calculated by dividing the coal reserves by theEnterprise Value including Cash as of the latest fiscal year end of the INDEXCOMPONENT. If the Enterprise Value of the INDEX COMPONENT was zero or no Coal
Reserves could be assigned, the INDEX COMPONENT does not receive a Coal Reserves
Intensity or a Coal Reserves Intensity Score.
ii. The Coal Reserves Intensity of each INDEX COMPONENT is standardized by applying
the following formula
𝐶𝑜𝑅𝐼𝑆,𝑖 =𝐶𝑜𝑅𝐼𝑖 − 𝜇𝐶𝑜𝑅𝐼
𝜎𝐶𝑜𝑅𝐼

Where
𝐶𝑜𝑅𝐼𝑖 = Coal Reserves Intensity of INDEX COMPONENT i
𝐶𝑜𝑅𝐼𝑆,𝑖 = Standardized Coal Reserves Intensity of INDEX COMPONENT i
𝜇𝐶𝑜𝑅𝐼 = The average Coal Reserves Intensity across all INDEX COMPONENTS witheligible Coal Reserves Intensity
𝜎𝐶𝑜𝑅𝐼 = The standard deviation across the Coal Reserves Intensity of all INDEXCOMPONENTS with eligible Coal Reserves Intensityiii. If one or more INDEX COMPONENTS receive a 𝐶𝑜𝑅𝐼𝑆,𝑖 of smaller than -3 or larger
than +3, the 𝐶𝑜𝑅𝐼𝑆,𝑖 of each such INDEX COMPONENT is winsorized to -3 and +3.
Afterwards, steps ii. and iii. are applied again.
iv. Steps ii. and iii. are applied in an iterative manner, until each INDEX COMPONENT
receives a 𝐶𝑜𝑅𝐼𝑆,𝑖 of minimum -3 and maximum +3.
v. Based on the 𝐶𝑜𝑅𝐼𝑆,𝑖 calculated in iv., each INDEX COMPONENT receives an S Score,
𝑆𝑖 , by applying the standard normal distribution function.
vi. The Coal Reserves Intensity Score for each INDEX COMPONENT, 𝑆𝑐𝑜𝑟𝑒𝐶𝑜𝑅𝐼,𝑖 , isderived by transforming 𝑆𝑖 to have boundaries between -1 and -0.75:
𝑆𝑐𝑜𝑟𝑒𝐶𝑜𝑅𝐼,𝑖 = (−0.25 × 𝑆𝑖 ) − 0.75
b. Oil & Gas Reserves Intensity Score:i. Oil & Gas Reserves Intensity is calculated by dividing the Oil & Gas Reserves by
the Enterprise Value including Cash as of the latest fiscal year end of the INDEXCOMPONENT. If the Enterprise Value of the INDEX COMPONENT was zero or no Oil &Gas Reserves could be assigned, the INDEX COMPONENT does not receive an Oil &Gas Reserves Intensity or an Oil & Gas Reserves Intensity Score.

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ii. The Oil & Gas Reserves Intensity of each INDEX COMPONENT is standardized byapplying the following formula
𝑂𝐺𝑅𝐼𝑆,𝑖 =𝑂𝐺𝑅𝐼𝑖 − 𝜇𝑂𝐺𝑅𝐼
𝜎𝑂𝐺𝑅𝐼

Where
𝑂𝐺𝑅𝐼𝑖 = Oil & Gas Reserves Intensity of INDEX COMPONENT i
𝑂𝐺𝑅𝐼𝑆,𝑖 = Standardized Oil & Gas Reserves Intensity of INDEX COMPONENT i
𝜇𝑂𝐺𝑅𝐼 = The average Oil & Gas Reserves Intensity across all INDEX COMPONENTS
with eligible Oil & Gas Reserves Intensity
𝜎𝑂𝐺𝑅𝐼 = The standard deviation across the Oil & Gas Reserves Intensity of all INDEXCOMPONENTS with eligible Oil & Gas Reserves Intensityiii. If one or more INDEX COMPONENTS receive an 𝑂𝐺𝑅𝐼𝑆,𝑖 of smaller than -3 or larger
than +3, the 𝑂𝐺𝑅𝐼𝑆,𝑖 of each such INDEX COMPONENT is winsorized to -3 and +3.
Afterwards, steps ii. and iii. are applied again.
iv. Steps ii. and iii. are applied in an iterative manner, until each INDEX COMPONENT
receives an 𝑂𝐺𝑅𝐼𝑆,𝑖 of minimum -3 and maximum +3.
v. Based on the 𝑂𝐺𝑅𝐼𝑆,𝑖 calculated in iv., each INDEX COMPONENT receives an S Score,
𝑆𝑖 , by applying the standard normal distribution function.
vi. The Oil & Gas Reserves Intensity Score for each Index Component, 𝑆𝑐𝑜𝑟𝑒𝑂𝐺𝑅𝐼,𝑖 , isderived by transforming 𝑆𝑖 to have boundaries between -0.75 and -0.25:
𝑆𝑐𝑜𝑟𝑒𝑂𝐺𝑅𝐼,𝑖 = (−0.50 × 𝑆𝑖 ) − 0.25
c. The Carbon Reserves Intensity Score for each INDEX COMPONENT, 𝑆𝑐𝑜𝑟𝑒𝐶𝑅𝐼 , is definedaccording to below:
𝑆𝑐𝑜𝑟𝑒𝐶𝑜𝑅𝐼,𝑖 , 𝑖𝑓 𝑆𝑐𝑜𝑟𝑒𝐶𝑜𝑅𝐼,𝑖 𝑤𝑎𝑠 𝑐𝑎𝑙𝑐𝑢𝑙𝑎𝑡𝑒𝑑
𝑆𝑐𝑜𝑟𝑒𝑂𝐺𝑅𝐼,𝑖 , 𝑖𝑓 𝑜𝑛𝑙𝑦 𝑆𝑐𝑜𝑟𝑒𝑂𝐺𝑅𝐼,𝑖 𝑤𝑎𝑠 𝑐𝑎𝑙𝑐𝑢𝑙𝑎𝑡𝑒𝑑
𝑆𝑐𝑜𝑟𝑒𝐶𝑅𝐼,𝑖 = {𝑁𝐴, 𝑖𝑓 𝑛𝑒𝑖𝑡ℎ𝑒𝑟 𝑆𝑐𝑜𝑟𝑒𝐶𝑜𝑅𝐼,𝑖 𝑛𝑜𝑟 𝑆𝑐𝑜𝑟𝑒𝑂𝐺𝑅𝐼,𝑖 𝑤𝑒𝑟𝑒 𝑐𝑎𝑙𝑐𝑢𝑙𝑎𝑡𝑒𝑑
3. Green Revenue Score:a. For each INDEX COMPONENT, the cumulative relative green revenue is calculated. If noGreen Revenue could be assigned to an INDEX COMPONENT, this does not include revenuesof zero, the INDEX COMPONENT does not receive a Green Revenue Score. Green Revenue isdefined as revenue attributed to activities benefitting the following objectives, that utilize
the UN Sustainable Development Goals (SDG´s) as reference framework:
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Objectives

Sustainable Development Goals

Achieving sustainable agriculture andforestry

SDG 2: Zero Hunger

Conserving water

SDG 6: Clean Water & Sanitation

Promoting sustainable building

SDG 11: Sustainable Cities andCommunities

Optimising Material Use

SDG 12: Responsible Consumption and
Production

Mitigating climate change

SDG 13: Climate Action

Preserving marine ecosystem

SDG 14: Life below Water

Preserving terrestrial ecosystem

SDG 15: Life on Land

SDG 15: Life on Landb. The Green Revenue Score for each INDEX COMPONENT is calculated based on the following
formula:𝑆𝑐𝑜𝑟𝑒𝐺𝑅,𝑖 = min (cumulative relative green revenue ; 1)
4. Carbon Score:a. The Carbon Score for each INDEX COMPONENT is calculated by aggregating the available
Carbon Intensity Score, the Carbon Reserves Intensity Score, and the Green Revenue
Score as a geometric mean. I.e., the Carbon Score is calculated based on the formula
below:
𝐶𝑎𝑟𝑏𝑜𝑛 𝑆𝑐𝑜𝑟𝑒𝑖 = ([1 + 𝑆𝑐𝑜𝑟𝑒𝐶𝐸𝐼,𝑖 ] × [1 + 𝑆𝑐𝑜𝑟𝑒𝐶𝑅𝐼,𝑖 ] × [1 +^1𝑆𝑐𝑜𝑟𝑒𝐺𝑅,𝑖 ]) (𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑎𝑣𝑎𝑖𝑙𝑎𝑏𝑙𝑒 𝑠𝑐𝑜𝑟𝑒𝑠) − 1
b. To clarify, if a single score is not available for an INDEX COMPONENT, the single score would
be set to zero in the formula above. Hence, if an INDEX COMPONENT does not receive any
single score, the Carbon Score for this INDEX COMPONENT is zero.
C. Weight Tilting

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For each security within each REGIONAL INDEX an initial weight 𝑤𝑖𝑛𝑖𝑡,𝑅,𝑖 is determined based on its FREEFLOAT MARKET CAPITALIZATION.
The respective initial weight is then tilted based on the below function:𝑤𝑎𝑑𝑗,𝑅,𝑖 = 𝑤𝑖𝑛𝑖𝑡,𝑅,𝑖 × (1 + 𝐶𝑎𝑟𝑏𝑜𝑛 𝑆𝑐𝑜𝑟𝑒𝑖 )𝑇𝑅
Where𝑤𝑎𝑑𝑗,𝑅,𝑖 = Adjusted weight of security i within region R
𝑤𝑖𝑛𝑖𝑡,𝑅,𝑖 = Initial weight of security i within region R
𝐶𝑎𝑟𝑏𝑜𝑛 𝑆𝑐𝑜𝑟𝑒𝑖 = The Carbon Score of security i as calculated above
𝑇𝑅 = The tilt power which is required in order to achieve the CARBON OBJECTIVE. This, aswell as the determination mechanism of the tilt power are detailed further below
The obtained weights are then modified in such a way as to fulfil the requirements below:
a. Add up to 100%b. The weight of any SECTOR cannot deviate by more than 2% from the weight of the same SECTOR
within the REGIONAL UNIVERSE. In case of a breach, the weight of the SECTOR will be decreased orincreased to fulfil the requirement by increasing or decreasing the weight of each security within
the respective SECTOR proportionally.
c. The individual weight of any security cannot deviate by more than 3% from and not exceed 20
times the weight as determined based on FREE FLOAT MARKET CAPITALIZATION (except for the
securities which are removed from the index, which always receive a weight of zero in the INDEX)
within the REGIONAL UNIVERSE. In case of a breach, the excess weight will be redistributed
proportionally within the SECTOR of the breaching security.
These will represent the final weights 𝑤𝑓,𝑅,𝑖 of each INDEX COMPONENT within the respective REGIONAL INDEX.

D. Carbon Objectives
The exponent of the tilting function 𝑇𝑅 is the parameter targeted (i.e. solved for) to achieve the overall
CARBON OBJECTIVE for the INDEX on each SELECTION DAY.
The overall CARBON OBJECTIVE for each REGIONAL INDEX is to meet the stricter between the Carbon
Emissions Intensity Reduction Objective and the Decarbonization Objective on each SELECTION DAY. EachREGIONAL INDEX is calculated separately, the CARBON OBJECTIVE applies to each REGIONAL INDEX and, where
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appropriate, comparisons are made with the relevant REGIONAL UNIVERSE. The more stringent of the two
Objectives on a particular SELECTION DAY is used to set the tilt power based on the function describedabove.
•

Carbon Emissions Intensity Reduction Objective (CIRO): the objective for each REGIONAL INDEX tohave at least 70% lower Carbon Emissions Intensity than the relevant REGIONAL UNIVERSE on the
SELECTION DAY. In case of the United Kingdom region, the Carbon Emission Intensity Reduction is
set however to 60% vs its REGIONAL UNIVERSE.
𝐶𝐼𝑅𝑂𝑅𝐼,𝑡 = 𝐶𝐸𝐼𝑅𝑈,𝑡 × (1 − 𝐶𝐼𝑅𝑂 𝑅𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛𝑅 )Where
𝐶𝐼𝑅𝑂𝑅𝐼,𝑡 = Carbon Emission Intensity Reduction Objective on SELECTION DAY t for the relevant
REGIONAL INDEX𝐶𝐸𝐼𝑅𝑈,𝑡 = Carbon Emission Intensity of the relevant REGIONAL UNIVERSE on SELECTION DAY t
𝐶𝐼𝑅𝑂 𝑅𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛𝑅 = Carbon Emissions Intensity Reduction level for each region in Carbon
Emission Intensity on SELECTION DAY t vs the relevant REGIONAL UNIVERSE (60% for United Kingdom,
70% for all other regions)

The REGIONAL UNIVERSE Carbon Emission Intensity 𝐶𝐸𝐼𝑅𝑈,𝑡 on a given SELECTION DAY t is determinedas:
𝑁

𝐶𝐸𝐼𝑅𝑈,𝑡 = ∑𝑖=1(𝐶𝐸𝐼𝑖,𝑡 × 𝑤𝑅𝑈,𝑖 )∑(𝑤𝑅𝑈,𝑖 |𝐶𝐸𝐼𝑖,𝑡 ≥ 0)

Where
𝐶𝐸𝐼𝑅𝑈,𝑡 = Carbon Emission Intensity of the relevant REGIONAL UNIVERSE on SELECTION DAY t
𝐶𝐸𝐼𝑖,𝑡 = Carbon Emission Intensity of security i on SELECTION DAY t𝑤𝑅𝑈,𝑖 = FREE FLOAT MARKET CAPITALIZATION based weight of security i within the REGIONAL UNIVERSE R
on SELECTION DAY t
Securities with missing individual Carbon Emission Intensity are ignored in the calculation aboveof the regional Carbon Emission Intensity.

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Decarbonization Objective (DO): the objective for each REGIONAL INDEX to have a Carbon Emissions
Intensity not exceeding the Carbon Emission Intensity as calculated based on the below formulaand relative to the BASE DATE.
On the BASE DATE, the Decarbonization Objective is calculated as:
𝐷𝑂𝑅𝐼,𝐵𝐷 = 𝐶𝐸𝐼𝑅𝑈,𝐵𝐷 × (1 − 𝐷𝑂 𝑅𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛)
Where
𝐷𝑂𝑅𝐼,𝐵𝐷 = Decarbonization Objective on BASE DATE for the relevant REGIONAL INDEX𝐶𝐸𝐼𝑅𝑈,𝐵𝐷 = Carbon Emission Intensity of the relevant REGIONAL UNIVERSE on BASE DATE𝐷𝑂 𝑅𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛 = Decarbonization Reduction level in Carbon Emission Intensity vs the relevant
REGIONAL UNIVERSE (50%)
On each following SELECTION DAY, this objective reduces by 7% YoY applied semi-annually based on
the function below and is also adjusted by the performance of the relevant REGIONAL INDEX
between the BASE DATE and the SELECTION DAY:
𝐷𝑂𝑅𝐼,𝑡 = 𝐶𝐸𝐼𝑅𝑈,𝐵𝐷 × (1 − 𝐷𝑂 𝑅𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛) × (1 − 7%)(𝑆𝐷𝑆−𝐵𝐷𝑆)/2 ×

𝐼𝐿𝑅𝐼,𝐵𝐷
𝐼𝐿𝑅𝐼,𝑆𝐷

Where
𝐷𝑂𝑅𝐼,𝑡 = Decarbonization Objective on SELECTION DAY t for the relevant REGIONAL INDEX𝐶𝐸𝐼𝑅𝑈,𝐵𝐷 = Carbon Emission Intensity of the relevant REGIONAL UNIVERSE on the BASE DATE𝐷𝑂 𝑅𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛 = Decarbonization Reduction level in Carbon Emission Intensity vs the relevant
REGIONAL UNIVERSE (50%)
𝑆𝐷𝑆 − 𝐵𝐷𝑆 = The number of semesters between the SELECTION DAY and the BASE DATE𝐼𝐿𝑅𝐼,𝐷𝐵 = The INDEX level of the REGIONAL GTR INDEX on the BASE DATE𝐼𝐿𝑅𝐼,𝑆𝐷 = The INDEX level of the REGIONAL GTR INDEX on the SELECTION DAY

The overall CARBON OBJECTIVE targeted on SELECTION DAY t is then determined as:
𝐶𝑂𝑅𝐼,𝑡 = min(𝐶𝐼𝑅𝑂𝑅𝐼,𝑡 , 𝐷𝑂𝑅𝐼,𝑡 )Where
𝐶𝑂𝑅𝐼,𝑡 = Overall CARBON OBJECTIVE targeted on SELECTION DAY t
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INDEX GUIDELINE𝐶𝐼𝑅𝑂𝑅𝐼,𝑡 = Carbon Emission Intensity Reduction Objective on SELECTION DAY t for the relevant
REGIONAL INDEX𝐷𝑂𝑅𝐼,𝑡 = Decarbonization Objective on SELECTION DAY t for the relevant REGIONAL INDEXThe Carbon Emission Intensity 𝐶𝐸𝐼𝑅𝐼,𝑡 of each REGIONAL INDEX on a given SELECTION DAY t should beat or below the overall CARBON OBJECTIVE 𝐶𝑂𝑅𝐼,𝑡 . The REGIONAL INDEX Carbon Emission Intensity
𝐶𝐸𝐼𝑅𝐼,𝑡 on a given SELECTION DAY t is determined as:
𝑁

𝐶𝐸𝐼𝑅𝐼,𝑡 = ∑𝑖=1(𝐶𝐸𝐼𝑖,𝑡 × 𝑤𝑅𝐼,𝑖 )∑(𝑤𝑅𝐼,𝑖 |𝐶𝐸𝐼𝑖,𝑡 ≥ 0)

Where
𝐶𝐸𝐼𝑅𝐼,𝑡 = Carbon Emission Intensity of the relevant REGIONAL INDEX on SELECTION DAY t
𝐶𝐸𝐼𝑖,𝑡 = Carbon Emission Intensity of security i on SELECTION DAY t
𝑤𝑅𝐼,𝑖= Weight of security i within the respective Tilted REGIONAL INDEX on SELECTION DAY t

In case the optimization does not yield a solution, the constraints will be relaxed in the order and steps
described below:

First order relaxation:
Sector deviation vs the REGIONAL UNIVERSE in steps of 0.5%
Individual weight deviation vs the REGIONAL UNIVERSE in steps of 0.5%

Second order relaxation:
In the event that after 10 subsequent relaxations of the above steps, there is still no solution attainable,
the Carbon Emissions Intensity Reduction Objective will also be relaxed in steps of 5%.
In the event that even a triple relaxation of the above objective still doesn’t render a solution, theDecarbonization Objective may also be relaxed in steps of 1% until a solution can be found.

E. SUPRA-REGIONAL INDEX Construction

Based on the final weights 𝑤𝑓,𝑅,𝑖 as determined in the Tilting section, the Developed Markets andGlobal Markets SUPRA-REGIONAL INDICES are created. The aggregation is outlined in the below table:
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RegionSUPRA-REGIONAL INDEXNorth America, Europe ex United Kingdom, United
Kingdom, APAC ex Japan, Japan
North America, Europe ex United Kingdom, United
Kingdom, APAC ex Japan, Japan, Emerging Markets

Developed Markets
Global Markets

The weight of each security within the SUPRA-REGIONAL INDICES above is determined based on theweight of each Index Component of each Regional Index and the weight of each region within the
Index Universe:
𝑤𝑆𝑅𝐼,𝑖 = 𝑤𝑓,𝑅,𝑖 × ∑ 𝑤𝐼𝑈,𝑖𝑖∈𝑅

where:
𝑤𝑆𝑅𝐼,𝑖 = the weight of security i in the respective SUPRA-REGIONAL INDEX
𝑤𝑓,𝑅,𝑖 = the final weight of security i within Region R
𝑤𝐼𝑈,𝑖 = the weight if security i within the INDEX UNIVERSE and is calculated based on FREE FLOAT MARKET

CAPITALIZATIONThe respective weights are then rescaled to add up to 100% in order to obtain the final INDEX COMPONENT weight
within each SUPRA-REGIONAL INDEX:

𝑤𝑓𝑖𝑛,𝑆𝑅𝐼,𝑖 =𝑤𝑆𝑅𝐼,𝑖∑𝑖 𝑤𝑆𝑅𝐼,𝑖

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3. REBALANCE
3.1. ORDINARY REBALANCE
In order to reflect the new selection of the INDEX COMPONENTS determined on the SELECTION DAY (inaccordance with Section 2.1 and 2.2) the INDEX is adjusted on the REBALANCE DAY after CLOSE OF BUSINESS.
This is carried out by implementing the shares as determined on the FIXING DAY based on the weights
calculated on the SELECTION DAY.
For more information on the rebalance procedure please refer to the Equity Index Methodology, which isincorporated
byreference
andavailable
onthe
Solactive
website:https://www.solactive.com/documents/equity-index-methodology/
SOLACTIVE will publish any changes made to the INDEX COMPONENTS with sufficient notice before the
REBALANCE DAY on the SOLACTIVE webpage under the section “Announcement”, which is available athttps://www.solactive.com/news/announcements/

3.2. EXTRAORDINARY REBALANCE
The INDEX is not rebalanced extraordinarily.

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CALCULATION OF THE INDEX

4.1. INDEX FORMULA
The INDEX is calculated as a price return, net total return, gross total return Index.
The calculation is performed according to the Equity Index Methodology, which is available on the SOLACTIVE
website: https://www.solactive.com/documents/equity-index-methodology/. The divisor index formula
stipulates that the level of the INDEX changes based on the change of the prices of its INDEX COMPONENTS
taking into account their weight in the INDEX and any currency conversion in case the price of an INDEXCOMPONENT is quoted in a currency other than the INDEX CURRENCY.
Any dividends or other distributions are reinvested across the entire basket of INDEX COMPONENTS by meansof a divisor at the opening of the effective date (the so-called ex-date) of the payment of such dividend orother distribution.
A more detailed description of the mechanics of the index calculation formula can be found in the Equity
Index Methodology under Section 1.2.

4.2. ACCURACY
The level of the INDEX will be rounded to two decimal places. Divisors will be rounded to six decimal places.
TRADING PRICES and foreign exchange rates will be rounded to six decimal places.

4.3. ADJUSTMENTS
Under certain circumstances, an adjustment of the INDEX may be necessary between two regular REBALANCE
DAYS. Such adjustment has to be made if a corporate action (as specified in Section 4.4 below) in relation of
an INDEX COMPONENT occurs. Such adjustment may have to be done in relation to an INDEX COMPONENT and/or
may also affect the number of INDEX COMPONENTS and/or the weighting of certain INDEX COMPONENTS and will
be made in compliance with the Solactive Equity Index Methodology, which is incorporated by reference andavailable on the SOLACTIVE website: https://www.solactive.com/documents/equity-index-methodology/.
SOLACTIVE will announce the INDEX adjustment giving a notice period of at least two TRADING DAYS (withrespect to the affected INDEX COMPONENT) on the SOLACTIVE website under the Section “Announcements”,
which is available at https://www.solactive.com/news/announcements/. The INDEX adjustments will be
implemented on the effective day specified in the respective notice.

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4.4. CORPORATE ACTIONS
As part of the INDEX maintenance SOLACTIVE will consider various events – also referred to as corporate
actions – which result in an adjustment to the INDEX between two regular REBALANCE DAYS. Such events havea material impact on the price, weighting or overall integrity of INDEX COMPONENTS. Therefore, they need tobe accounted for in the calculation of the INDEX. Corporate actions will be implemented from the cum-day
to the ex-day of the corporate action, so that the adjustment to the INDEX coincides with the occurrence ofthe price effect of the respective corporate action.
Adjustments to the INDEX to account for corporate actions will be made in compliance with the Equity Index
Methodology, which is available on the SOLACTIVE website: https://www.solactive.com/documents/equityindex-methodology/. This document contains for each corporate action a brief definition and specifies therelevant adjustment to the INDEX variables.
While SOLACTIVE aims at creating and maintaining its methodology for treatment of corporate actions as
generic and transparent as possible and in line with regulatory requirements, it retains the right inaccordance with the Equity Index Methodology to deviate from these standard procedures in case of any
unusual or complex corporate action or if such a deviation is made to preserve the comparability andrepresentativeness of the INDEX over time.
SOLACTIVE considers following, but not conclusive, list of corporate actions as relevant for INDEX
maintenance:
Cash Distributions (e.g. payment of a dividend)
Stock distributions (e.g. payment of a dividend in form of additional shares)
Stock distributions of another company (e.g. payment of a dividend in form of additional shares ofanother company (e.g. of a subsidiary))
Share splits (company´s present shares are divided and therefore multiplied by a given factor)
Reverse splits (company´s present shares are effectively merged)
Capital increases (such as issuing additional shares)
Share repurchases (a company offer its shareholders the option to sell their shares to a fixed price)
Spin-offs (the company splits its business activities into two or more entities and distributes newequity shares in the created entities to the shareholders of the former entity)
Mergers & Acquisitions (transaction in which the ownership of a company (or other businessorganizations) are transferred or consolidated with other entities, e.g. fusion of two or more
separate companies into one entity)
Delistings (company´s shares are no longer publicly traded at a stock exchange)
Nationalization of a company (effective control of a legal entity is taken over by a state)
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Insolvency

4.5. RECALCULATIONSOLACTIVE makes the greatest possible efforts to accurately calculate and maintain its indices. However,errors in the determination process may occur from time to time for variety reasons (internal or external)
and therefore, cannot be completely ruled out. SOLACTIVE endeavors to correct all errors that have been
identified within a reasonable period of time. The understanding of “a reasonable period of time” as well as
the general measures to be taken are generally depending on the underlying and is specified in the
Solactive Correction Policy, which is incorporated by reference and available on the SOLACTIVE website:
https://www.solactive.com/documents/correction-policy/.

4.6. MARKET DISRUPTION
In periods of market stress SOLACTIVE calculates its indices following predefined and exhaustive
arrangements as described in the Solactive Disruption Policy, which is incorporated by reference andavailable on the SOLACTIVE website: https://www.solactive.com/documents/disruption-policy/. Suchmarket stress can arise due to a variety of reasons, but generally results in inaccurate or delayed prices forone or more INDEX COMPONENTS. The determination of the INDEX may be limited or impaired at times of illiquid
or fragmented markets and market stress.

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MISCELLANEOUS

5.1. DISCRETION
Any discretion which may need to be exercised in relation to the determination of the INDEX (for example
the determination of the INDEX UNIVERSE (if applicable), the selection of the INDEX COMPONENTS (if applicable)or any other relevant decisions in relation to the INDEX) shall be made in accordance with strict rules
regarding the exercise of discretion or expert judgement.

5.2. METHODOLOGY REVIEWThe methodology of the INDEX is subject to regular review, at least annually. In case a need of a change ofthe methodology has been identified within such review (e.g. if the underlying market or economic reality
has changed since the launch of the INDEX, i.e. if the present methodology is based on obsolete
assumptions and factors and no longer reflects the reality as accurately, reliably and appropriately as
before), such change will be made in accordance with the Solactive Methodology Policy, which isincorporated
byreference
andavailable
on
the
SOLACTIVE
website:https://www.solactive.com/documents/methodology-policy/.
Such change in the methodology will be announced on the SOLACTIVE website under the Section“Announcement”, which is available at https://www.solactive.com/news/announcements/. The date of
the last amendment of this INDEX is contained in this GUIDELINE.

5.3. CHANGES IN CALCULATION METHOD
The application by the INDEX ADMINISTRATOR of the method described in this document is final and binding.
The INDEX ADMINISTRATOR shall apply the method described above for the composition and calculation of the
INDEX. However, it cannot be excluded that the market environment, supervisory, legal and financial or tax
reasons may require changes to be made to this method. The INDEX ADMINISTRATOR may also make changes
to the terms and conditions of the INDEX and the method applied to calculate the INDEX that it deems to benecessary and desirable in order to prevent obvious or demonstrable error or to remedy, correct or
supplement incorrect terms and conditions. The INDEX ADMINISTRATOR is not obliged to provide information
on any such modifications or changes. Despite the modifications and changes, the INDEX ADMINISTRATOR willtake the appropriate steps to ensure a calculation method is applied that is consistent with the method
described above.

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5.4. TERMINATIONSOLACTIVE makes the greatest possible efforts to ensure the resilience and continued integrity of its indicesover time. Where necessary, SOLACTIVE follows a clearly defined and transparent procedure to adapt Index
methodologies to changing underlying markets (see Section 5.2 “Methodology Review”) in order to maintaincontinued reliability and comparability of the indices. Nevertheless, if no other options are available theorderly cessation of the INDEX may be indicated. This is usually the case when the underlying market or
economic reality, which an index is set to measure or to reflect, changes substantially and in a way notforeseeable at the time of inception of the index, the index rules, and particularly the selection criteria, canno longer be applied coherently or the index is no longer used as the underlying value for financial
instruments, investment funds and financial contracts.
SOLACTIVE has established and maintains clear guidelines on how to identify situations in which the
cessation of an index is unavoidable, how stakeholders are to be informed and consulted and theprocedures to be followed for a termination or the transition to an alternative index. Details are specified
in the Solactive Termination Policy, which is incorporated by reference and available on the SOLACTIVE
website: https://www.solactive.com/documents/termination-policy/.

5.5. OVERSIGHT
An oversight committee composed of staff from SOLACTIVE and its subsidiaries (the “OVERSIGHT COMMITTEE”)
is responsible for decisions regarding any amendments to the rules of the INDEX. Any such amendment,
which may result in an amendment of the GUIDELINE, must be submitted to the OVERSIGHT COMMITTEE for priorapproval and will be made in compliance with the Methodology Policy, which is available on the SOLACTIVE
website: https://www.solactive.com/documents/methodology-policy/.

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6.

DEFINITIONS“BASE DATE” shall refer to the SELECTION DAY on the 7th of October 2020.
“BENCHMARK REGULATION” shall have the meaning as defined in Section “Introduction”.
“BMR” shall have the meaning as defined in Section “Introduction”.
“CALCULATION DAY” is every weekday from Monday to Friday.
“Carbon Objectives” shall have the meaning as defined in Section 2.3 “Weighting of the Index
Components”.
“CLOSE OF BUSINESS” is the calculation time of the closing level of the INDEX as outlined in Section 1.4.
The “CLOSING PRICE” in respect of an INDEX COMPONENT and a TRADING DAY is a security's final regular-hours
TRADING PRICE published by the EXCHANGE and determined in accordance with the EXCHANGE regulations. If
the EXCHANGE has no or has not published a CLOSING PRICE in accordance with the EXCHANGE rules for an INDEXCOMPONENT, the last TRADING PRICE will be used.
“DATA PROVIDER 1” is Legal & General Investment Management (“LGIM”). For more information, please visit:https://www.lgim.com/“DATA PROVIDER 2” is ISS. For more information, please visit: https://www.issgovernance.com/“ELIGIBLE REBALANCE DAY” is each day that is a TRADING DAY at the New York Stock Exchange, the London
Stock Exchange, the EUREX Exchange and the Tokyo Stock Exchange.
“EXCHANGE” is with respect to the INDEX and every INDEX COMPONENT, the respective exchange where the
INDEX COMPONENT has its listing as determined in accordance with the rules in Section 2.
“FIXING DAY” is the SELECTION DAY.
The “FREE FLOAT” is with regard to each of the securities fulfilling the Index Component Requirements on
a SELECTION DAY the share class-specific fraction of the total number of shares of such share class issuedthat are available for trading by market participants and not locked-in by long term holders, as sourced
from data vendors.
The “FREE FLOAT MARKET CAPITALIZATION” is with regard to each of the securities fulfilling the Index
Component Requirements on a SELECTION DAY the share class-specific free float market capitalization. It is
calculated as the multiplication of the shares outstanding in FREE FLOAT (as sourced from data vendors)with the CLOSING PRICE of the share class as of the respective SELECTION DAY.]“GBS INDEX UNIVERSE” is the INDEX UNIVERSE as defined in the guideline of the SOLACTIVE Global
Benchmark Series (https://solactive.com/downloads/Guideline-Solactive-GBS-Benchmark-Series.pdf) for
the for the GBS Index specified in Section 2.1.
“GUIDELINE” shall have the meaning as defined in Section “Introduction”.
“INDEX” shall have the meaning as defined in Section “Introduction”.
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INDEX GUIDELINE“INDEX ADMINISTRATOR” shall have the meaning as defined in Section “Introduction”.
“INDEX COMPONENT” is each security reflected in the INDEX.
“INDEX COMPONENT REQUIREMENTS” shall have the meaning as defined in Section 2.2.
“INDEX CURRENCY” is the currency specified in the column “Currency” in the table in Section 1.2.
“INDEX UNIVERSE REQUIREMENTS” shall have the meaning as defined in Section 2.1.
“INDEX UNIVERSE” is the sum of all financial instruments which fulfill the INDEX UNIVERSE REQUIREMENTS.
“LIVE DATE” shall have the meaning as defined in Section 1.3.
“OVERSIGHT COMMITTEE” shall have the meaning as defined in Section 5.5.
“REBALANCE DAY” is the first Wednesday in May and November. If that day is not an ELIGIBLE REBALANCE DAY
the REBALANCE DAY will be the immediately following ELIGIBLE REBALANCE DAY.
“REGIONAL INDEX“ shall have the meaning as defined in Section 2.3 “Weighting of the Index Components”.
“REGIONAL UNIVERSE“ shall have the meaning as defined in Section 2.3 “Weighting of the Index
Components”.
“SECTOR“ is based on the FactSet Economy Classification.
“SELECTION DAY” is 20 CALCULATION DAYS before the scheduled REBALANCE DAY, disregarding any potentialchange of the REBALANCE DAY.
“SOLACTIVE” shall have the meaning as defined in Section “Introduction”.
“SUPRA-REGIONAL INDEX” shall have the meaning as defined in Section 2.3.
“START DATE” shall have the meaning as defined in Section 1.3.
“TRADING DAY” is with respect to an INDEX COMPONENT included in the INDEX at the REBALANCE DAY and every
INDEX COMPONENT included in the INDEX at the CALCULATION DAY immediately following the REBALANCE DAY (forclarification: this provision is intended to capture the TRADING DAYS for the securities to be included in the
INDEX as new INDEX COMPONENTS with close of trading on the relevant EXCHANGE on the REBALANCE DAY) a dayon which the relevant EXCHANGE is open for trading (or a day that would have been such a day if a market
disruption had not occurred), excluding days on which trading may be ceased prior to the scheduled
EXCHANGE closing time and days on which the EXCHANGE is open for a scheduled shortened period. The INDEXADMINISTRATOR is ultimately responsible as to whether a certain day is a TRADING DAY.
The “TRADING PRICE” in respect of an INDEX COMPONENT and a TRADING DAY is the most recent published priceat which the INDEX COMPONENT was traded on the respective EXCHANGE.

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INDEX GUIDELINECONTACT
Solactive AG
German Index Engineering
Platz der Einheit 1
60327 Frankfurt am Main
Germany
Tel.:
Fax:
Email:
Website:+49 (0) 69 719 160 00+49 (0) 69 719 160 25
info@solactive.com
www.solactive.com© Solactive AG
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