E

Bloomberg
Index Services
LimitedBenchmark Statement for
Bloomberg Global Fixed Income Family Index

Bloomberg Index Services Limited

A Bloomberg Professional Services offering

This benchmark statement (this “Statement”) is provided by Bloomberg Index Services Limited (“BISL” and, with its affiliates,“Bloomberg”) as the administrator of the Bloomberg Global Fixed Income Family Index (collectively, the “Indices” andeach, an “Index”) and is intended to meet the requirements of the European Union’s regulation on indices used as
benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Regulation(EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016, herein the “EU BMR”), including the regulatory
technical standards (“RTS”) promulgated thereunder, as and to the extent the EU BMR and related RTS were “on-shored” inthe UK from 1 January 2021 (the “BMR”).
Requirement [Regulatory
Reference](1)

Benchmark Family Information

General disclosure
requirements

The benchmark statement shallstate:

Date of publication:
June 2024(a) the date of publicationof the statement and,
where applicable, the dateof its last update;

Date of last update:June 2024(b) where available, theinternational securities
identification number(ISIN) of the benchmark or
benchmarks; alternatively,
for a family of benchmarks,
the statement may provide
details of where the ISINs
are publicly accessible freeof charge;

BISL does not assign ISINs to all of the Indices.
Users should be aware that ISINs may have been obtained on the Indices by third
parties and, in doing so, such third parties may have supplied inaccurate or
incomplete information with regard to the underlying Index or may have obtained
multiple ISINs for the same Index. Users should contact BISL if they have questions
regarding the proper identification of its Indices.

(c) whether the benchmark,or any benchmark in thefamily of benchmarks, isdetermined using
contributions of input data;

The Indices do not utilize contributions of input data.

(d) whether the benchmark
or any benchmark in thefamily of benchmarks
qualifies as one of thetypes of benchmarks listed
under Title III of Regulation(EU) 2016/1011, including
the specific provision by
virtue of which thebenchmark qualifies as that
type.

None of the Indices are ‘regulated-data benchmarks’, ‘interest rate benchmarks’or ‘commodity benchmarks’ as those terms are defined in the BMR. In addition,none of the Indices are ‘critical benchmarks’ or ‘significant benchmarks’ as thoseterms are defined in the BMR. All of the Indices would be deemed ‘nonsignificant’.

BISL does assign a unique Financial Instrument Global Identifier (“FIGI”) to its
Indices. FIGIs may be found at https://openfigi.com/ by searching for the relevant
Index within the family.

[RTS 1(1)]Global Family of Indices2

Bloomberg Index Services Limited(2)

The benchmark statement shallclearly and unambiguously
define the market or economic
reality measured by the
benchmark and thecircumstances in which suchmeasurement may become
unreliable.

A Bloomberg Professional Services offering

Market or economic reality measured by the benchmark family:
The Indices offer a set of fixed income benchmarks spanning the investment
grade and high yield bond markets globally.
BISL publishes about 100 Indices of the Global Fixed Income Family daily.
Index membership is defined by multiple criteria. The primary criteria for
Bloomberg Indices include, but are not limited to market sector, rating, currency,
maturity, amount outstanding and market of issue.

[BMR 27(1)(a)]In defining the market or
economic reality, thebenchmark statement shall
include at least the following
information:

See Tables 1-3 on Appendix 1 for more specific criteria used for constructing eachIndex.
Market participants in the fixed income markets underlying the benchmarks
mainly comprise of institutional investors, investment banks and broker-dealers.
Participation of retail investors in the fixed income market is limited.

(a) a general description of themarket or economic reality.
(b) the geographicalboundaries, if any, of themarket or economic reality;(c) any other information thatthe administrator reasonably
considers to be relevant or
useful to help users or
potential users of thebenchmark to understand therelevant features of the market
or economic reality, including
at least the following elements
insofar as reliable data on
these elements is available:(i) information on actual or
potential participants inthe market;(ii) an indication of the sizeof the market or economic
reality.
[RTS 1(2)]Global Family of Indices3

Bloomberg Index Services Limited(3)

In defining the potential
limitations of the benchmark
and the circumstances inwhich the measurement of themarket or economic reality
may become unreliable, thebenchmark statement shall
include at least:(a) a description of thecircumstances in which theadministrator would lacksufficient input data to
determine the benchmark inaccordance with themethodology;(b) where relevant, adescription of instances when
the accuracy and reliability ofthe methodology used for
determining the benchmark
can no longer be ensured,
such as when theadministrator deems theliquidity in the underlying
market as insufficient;(c) any other information thatthe administrator reasonably
considers to be relevant or
useful to help users andpotential users to understandthe circumstances in which themeasurement of the market or
economic reality may become
unreliable, including adescription of what might
constitute an exceptional
market event.

A Bloomberg Professional Services offering

Benchmark limitations:Though the Indices are designed to be representative of the markets theymeasure or otherwise align with their stated objective, they may not be
representative in every case or achieve their stated objective in all instances. They
are designed and calculated strictly to follow the rules detailed in themethodology, and any index level or other output is limited in its usefulness tosuch design and calculation.
Markets can be volatile, including those global fixed income markets which the
Indices intend to measure. For example, illiquidity can have an impact on thequality or amount of data available to BISL (or its underlying sources of data) for
calculation and may cause the Indices to produce unpredictable or unanticipatedresults.
In addition, market trends and changes to market structure may render theobjective of the Indices unachievable or to become impractical to replicate byinvestors.
In particular, the constituent fixed income securities of the Indices, and therefore the Index
values, are subject to credit risk (risk of default) as well as interest rate risk. I.e., the valueof bonds fluctuates with the changes in the interest rate policies established by central
banks and the natural movement of rates over time. Users should note that bonds with
optionality will also be impacted by interest rate volatilities. Most fixed income securities
often trade at a spread to the base interest rate curve. The level of the spread reflects the
additional premium an investor requires for taking the additional credit risk, liquidity risk,
and other risks. The change of the spread, which reflects primarily the change in perceived
risk of a security, comes from both common forces, affecting all bonds with similar
characteristics, and information specific to a particular issuer. As the Indices are designed
to measure those markets, its indices could be materially impacted by market movements,
thus significantly impacting the use or usefulness of the fixings for some or all users.

Market Disruption Events
See the Market Disruption Events section of the BISL Benchmark Procedures
Handbook.

[RTS 1(3)](4)

The benchmark statement shalllay down technicalspecifications that clearly andunambiguously identify theelements of the calculation of
the benchmark in relation towhich discretion may be
exercised, the criteria
applicable to the exercise ofsuch discretion and theposition of the persons thatcan exercise discretion, and

The Indices are rules-based (methodology available here), and their construction
is designed to consistently produce values without the exercise of expert
judgment or discretion under the standard methodology, in day-to-day index
calculation. Nevertheless, BISL product owners may use expert judgment or
discretion in certain limited circumstances, with regards to the following:

Extraordinary circumstances during a market emergency
Interruptions, issues, and closures of data including input or non-input (e.g.,
Volume) data

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Bloomberg Index Services Limited

how such discretion may besubsequently evaluated.
[BMR 27(1)(b)]In specifying the controls andrules that govern any exerciseof judgement or discretion by
the administrator or any
contributors in calculating thebenchmark or benchmarks, thebenchmark statement shall
include an outline of each stepof the process for any ex post
evaluation of the use of
discretion, together with aclear indication of the positionof any person(s) responsible
for carrying out theevaluations.
[RTS 1(4)]A Bloomberg Professional Services offering

Discretion refers to the right of BISL to make a determination in calculating a
Benchmark with respect to its methodology. Expert judgement refers to theexercise of discretion with respect to the use of Input Data. Instances of discretionor expert judgement may include BISL making a decision to modify, derive or
substitute input or non-input (e.g., Volume) data points according to what it
considers suitable in a particular situation, in order to maintain Index constituentsas set out in the methodology and ensure the index accurately represents theobjective of the index as best as possible.
Discretion may be applied to (but not limited to) areas of index construction andmay include actions such as:•
Delaying or estimating the value of input or non-input data•
Adjusting the benchmark methodology•
Excluding or amending a constituent, input or non-input data
When expert judgment or discretion is required, BISL undertakes to be consistentin its application. BISL also maintains and enforces a conflicts of interest
framework to prevent conflicts of interest from inappropriately influencing index
construction, production, and distribution, including the use of expert judgment
or discretion.
In certain circumstances exercises of expert judgment or discretion are reviewed
by senior members of BISL management and Bloomberg Compliance teams, andare reported to the Product, Risk & Oversight Committee (PROC), BISL’s
governance committee, which operates under the supervision of BISL’s oversightfunction, the Benchmark Oversight Committee (BOC).
See the section titled “Expert Judgment and Discretion” in the BISL Benchmark
Procedures Handbook.

(5)

A benchmark statement shallcontain at least the rationale
for adopting the benchmark
methodology and proceduresfor the review and approval ofthe methodology.
[BMR27(2)(b)]In specifying the procedures
for review of the methodology,
the benchmark statement shallat least outline the proceduresfor public consultation on any
material changes to themethodology.

The methodology approach incorporates a ruled-based calculation that does not
require the exercise of discretion in its daily calculation process. Additionally, themethodology is subject to strict input data eligibility requirements to ensure its
replicability and resilience.
For further detail on the procedures for the review and approval of
methodologies, the procedures for public consultation on materials changes andthe process for cessation, see the Benchmark and Methodology Launch &Changes and Cessation Policy sections of the BISL Benchmark Procedures
Handbook.

[RTS 1(5)]An administrator shall publish,
together with the benchmark
statement referred to in Article
27, a procedure conncerning

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A Bloomberg Professional Services offering

the actions to be taken by theadministrator in the event ofchanges to or the cessation ofa benchmark which may be
used in the Union inaccordance with Article 29(1).
The procedure may be
drafted, where applicable, forfamilies of benchmarks andshall be updated andpublished whenever a materialchange occurs.
[BMR28(1)](6)

The benchmark statement shallprovide notice of thepossibility that factors,
including external factors
beyond the control of theadministrator, may necessitatechanges to, or the cessation of
the benchmark.

Users should be aware that factors, including external factors beyond the controlof BISL, may necessitate changes to, or the cessation of the Indices or components
thereof. For example, markets measured by the Indices may undergo structuralchanges which may affect the liquidity of underlying constituents of the Indices. In
addition, regulatory changes can adversely impact the effectiveness of
methodology design.

[BMR 27(1)(c)](7)

The benchmark statement shalladvise users that changes to,or the cessation of, thebenchmark may have an
impact upon the financial
contracts and financial
instruments that reference thebenchmark or themeasurement of theperformance of investment
funds.

If financial product issuers or investment managers choose to use one of the
Indices as the basis of an index-linked financial product or an investment fund,they should consider the possibility that factors, including external factors, may
necessitate changes to, or the cessation of the Indices or components thereof,
including the potential need to terminate or modify the terms of a financial
product resulting from the termination of the calculation of one or more of the
Indices.

[BMR 27(1)(d)](8)

A benchmark statement shallcontain at least the definitions
for all key terms relating to thebenchmark.

All key terms and other relevant information are set forth in the methodology for
the Indices available.

[BMR 27(2)(a)](9)

The administrator shall review
and, where necessary, update
the benchmark statement foreach benchmark or family ofbenchmarks in the event of any
changes to the information to

BISL shall review this Statement on a periodic basis, at least once every two years.
BISL will also review and, if determined necessary, update this Statement in theevent of any material changes to the information provided herein, and whenever
the information contained herein ceases to be correct or sufficiently precise
including whenever there is a change in the type of the benchmark or a materialchange in the methodology.

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Bloomberg Index Services Limited

A Bloomberg Professional Services offering

be provided under this Article
and at least every two years.
[BMR 27(1)]In addition to the cases
referred to in the third
subparagraph of Article 27(1)of Regulation (EU) 2016/1011,
an update of the benchmark
statement shall be required
whenever the information
contained in the statementceases to be correct or
sufficiently precise, andincluding in any event in thefollowing cases:(a) whenever there is a change
in the type of the benchmark;(b) whenever there is amaterial change in themethodology used for
determining the benchmark
or, if the benchmark statement
is for a family of benchmarks,
in the methodology used for
determining any benchmark
within the family ofbenchmarks.

[RTS 6](10)

A benchmark statement shallcontain at least the criteria andprocedures used to determine
the benchmark, including adescription of the input data,
the priority given to different
types of input data, theminimum data needed todetermine a benchmark, theuse of any models or methodsof extrapolation and any
procedure for rebalancing theconstituents of a benchmark's
index.
[BMR 27(2)(c)]Constituent Selection
As described under “Market or economic reality measured by the benchmark
family” in row (2) above, a number of criteria and characteristics are utilized todetermine the index eligibility of particular securities among and across thevarious Indices.
Rebalancing
All indices are rebalanced monthly unless otherwise noted. Indices are publishedon every weekday.
Input Data
Once the universe of securities for a particular Index is determined, mostconstituents are priced using Bloomberg’s own evaluated pricing service, BVAL.
The high quality of index pricing is maintained by employing a variety of statisticaltechniques applied on day-to-day movements and point-in-time levels using
tolerance bands set at the issuer, sector, quality and maturity levels. Possible
outliers resulting from the verification process are resolved by the index teamdedicated to pricing validation. Index users may also challenge price levels, which

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Bloomberg Index Services Limited

A Bloomberg Professional Services offering

are then reviewed by the pricing team. If a discrepancy arises, prices may be
adjusted on a going forward basis.
For greater detail regarding the criteria and procedures used to determine the
Indices, please refer to the publicly-available methodology for the Indicesavailable here.

(11)

A benchmark statement shallcontain at least the controls
and rules that govern any
exercise of judgement or
discretion by the administrator
or any contributors, to ensure
consistency in the use of suchjudgement or discretion.

See row (4) above.

[BMR27(2)(d)]For the purpose of providing
information on the controls
and rules that govern any
exercise of judgment or
discretion in the calculation of
the benchmark or of the familyof benchmarks, the benchmark
statement shall at least:(a) indicate the position ofeach function or body who
may exercise discretion;(b) outline each step of the expost evaluation process for theuse of discretion.
[RTS 27(1)(4)](12)

A benchmark statement shallcontain at least the procedures
which govern thedetermination of thebenchmark in periods of stressor periods where transaction
data sources may beinsufficient, inaccurate or
unreliable and the potential
limitations of the benchmark insuch periods.

See “Benchmark Limitations” in row (3) above.

[BMR 27(2)(e)](13)

A benchmark statement shallcontain at least the proceduresfor dealing with errors in input

To the extent a material error in Index values is uncovered following its publicationand dissemination, a notification will be sent to Index clients alerting them of such
error and the expected date of a revised publication, if warranted. BISL considers

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Bloomberg Index Services Limited

data or in the determination of
the benchmark, including
when a re-determination of thebenchmark is required.
[BMR 27(2)(f)](14)

A benchmark statement shallcontain at least theidentification of potential
limitations of the benchmark,including its operation in
illiquid or fragmented markets
and the possible concentrationof inputs.

A Bloomberg Professional Services offering

the following factors to determine whether to restate. Not all conditions need to
be present to warrant a restatement, and certain factors may be moredeterminative that others depending on the circumstances of the given error.
The relative importance of the data field impacted by the error;
Consideration of impact to end investor and/or clients’ non-financial
objectives;

When the error occurred and when it was discovered;
The number of Indices and sub-Indices affected;
Whether the impacted Indices are linked to tradable products;

The magnitude of the error;The burden of restatement on client re-processing relative to the impactof the error; andThe impact of the restatement on analytical tools.
See the Restatement Policy set out in the BISL Benchmark Procedures Handbook.
See “Benchmark Limitations” in row (3) above.

[BMR 27(2)(g)](15)

Specific disclosure
requirements for regulated
data benchmarks.

Not applicable.

In addition to the information
to be included pursuant to
Article 1, for a regulated-databenchmark or, whereapplicable, family of regulateddata benchmarks, thebenchmark statement shallstate at least the following in its
description of the input data:(a) the sources of the input
data used;(b) for each source, therelevant type, as listed in
Article 3(1)(24) of Regulation(EU) 2016/1011.
[RTS 2]Global Family of Indices9

Bloomberg Index Services Limited(16)

Specific disclosure
requirements for interest
rate benchmarks

A Bloomberg Professional Services offering

Not applicable.

1. In addition to the information
to be included pursuant to
Article 1, for an interest ratebenchmark or, whereapplicable, family of interest
rate benchmarks, thebenchmark statement shall
include at least the following
information:(a) a reference alerting users to
the additional regulatory
regime applicable to interest
rate benchmarks under Annex
I to Regulation (EU) 2016/1011;(b) a description of thearrangements that have been
put in place to comply withthat Annex.
[RTS 3](17)

Specific disclosure
requirements for commodity
benchmarks

Not applicable.

In addition to the information
to be included pursuant to
Article 1, for a commodity
benchmark or, whereapplicable, family ofcommodity benchmarks, thebenchmark statement shall at
least:(a) indicate whether therequirements of Title II of, orAnnex II to, Regulation (EU)2016/1011 apply to thebenchmark, or family ofbenchmarks as prescribed by
Article 19 of that Regulation;(b) include an explanation as
to why Title II of or, as the casemay be, Annex II to that
Regulation applies;(c) include in the definitions of
key terms a concise

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A Bloomberg Professional Services offering

description of the criteria thatdefine the relevant underlying
physical commodity;(d) where applicable, indicate
where the explanations are
published that theadministrator is required to
publish under paragraph 7 ofAnnex II to that Regulation.
[RTS 4](18)

Specific disclosure
requirements for criticalbenchmarks

Not applicable.

In addition to the information
to be included pursuant to
Article 1, for a criticalbenchmark, or, whereapplicable, a family ofbenchmarks that contains atleast one critical benchmark,the benchmark statement shall
include at least the following
information:(a) a reference alerting users
to the enhanced regulatory
regime applicable to criticalbenchmarks under Regulation(EU) 2016/1011;(b) a statement indicating how
users will be informed of any
delay in the publication of thebenchmark or of any redetermination of thebenchmark, and indicating the(expected) duration of
measures.
[RTS 5]Global Family of Indices11

Bloomberg Index Services Limited

A Bloomberg Professional Services offering

BLOOMBERG, BLOOMBERG INDICES and the Bloomberg Global Fixed Income Family Index (the “Indices”) are trademarks
or service marks of Bloomberg Finance L.P. Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services
Limited, the administrator of the Indices (collectively, “Bloomberg”) or Bloomberg's licensors own all proprietary rights in
the Indices. Bloomberg does not guarantee the timeliness, accuracy or completeness of any data or information relating to
the Indices. Bloomberg makes no warranty, express or implied, as to the Indices or any data or values relating thereto or
results to be obtained therefrom, and expressly disclaims all warranties of merchantability and fitness for a particularpurpose with respect thereto. It is not possible to invest directly in an Index. Back-tested performance is not actual
performance. Past performance is not an indication of future results. To the maximum extent allowed by law, Bloomberg, its
licensors, and its and their respective employees, contractors, agents, suppliers and vendors shall have no liability or
responsibility whatsoever for any injury or damages - whether direct, indirect, consequential, incidental, punitive orotherwise - arising in connection with the Indices or any data or values relating thereto - whether arising from theirnegligence or otherwise. This document constitutes the provision of factual information, rather than financial productadvice. Nothing in the Indices shall constitute or be construed as an offering of financial instruments or as investment
advice or investment recommendations (i.e., recommendations as to whether or not to “buy”, “sell”, “hold”, or to enter or
not to enter into any other transaction involving any specific interest or interests) by Bloomberg or a recommendation as toan investment or other strategy by Bloomberg. Data and other information available via the Indices should not be
considered as information sufficient upon which to base an investment decision. All information provided by the Indices isimpersonal and not tailored to the needs of any person, entity or group of persons. Bloomberg does not express an opinion
on the future or expected value of any security or other interest and do not explicitly or implicitly recommend or suggest an
investment strategy of any kind. Customers should consider obtaining independent advice before making any financial
decisions. © 2024 Bloomberg. All rights reserved. This document and its contents may not be forwarded or redistributed
without the prior consent of Bloomberg.
The BLOOMBERG TERMINAL service and Bloomberg data products (the “Services”) are owned and distributed byBloomberg Finance L.P. (“BFLP”) except (i) in Argentina, Australia and certain jurisdictions in the Pacific islands, Bermuda,
China, India, Japan, Korea and New Zealand, where Bloomberg L.P. and its subsidiaries distribute these products, and (ii) in
Singapore and the jurisdictions serviced by Bloomberg’s Singapore office, where a subsidiary of BFLP distributes theseproducts.

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A Bloomberg Professional Services offering

Annex 1
Table 1. Family of Indices

TickerBADBBADB110BADBC110BADBX110
BADB13BADBC13BADBX13
BADB10BADBC10BADBX10
BADBC
BADBX
BBOTS
BBOTS13
BEGYP
BGHA
BGHA110
BGHA13BKEN
BNAMI
BNAMI13BZMB
BZMB110BZMB13
BZMB10
BSAFR
BSAFR13
BSAFR10
BMORO
BMAUR
BNGRI
BPHIL
BPHIL13
BPHIL15
BPHIL5BPHILRBPHILMMBUAEULBUSYFLBCAHBEMSID
BINDO

Index
AFMI Bloomberg African Bond Index
AFMI Bloomberg African Bond Index 1 to 10 Year
AFMI Bloomberg African Bond Index 1 to 10 Year 25% Capped
AFMI Bloomberg African Bond Index 1 to 10 Year ex South Africa
AFMI Bloomberg African Bond Index 1 to 3 Year
AFMI Bloomberg African Bond Index 1 to 3 Year 25% Capped
AFMI Bloomberg African Bond Index 1 to 3 Year ex South Africa
AFMI Bloomberg African Bond Index 10+ Year
AFMI Bloomberg African Bond Index 10+ Year 25% Capped
AFMI Bloomberg African Bond Index 10+ Year ex South Africa
AFMI Bloomberg African Bond Index 25% Capped
AFMI Bloomberg African Bond Index ex South Africa
Bloomberg Botswana Local Sovereign Index
Bloomberg Botswana Local Sovereign Index 1 to 3 Year
Bloomberg Egypt Local Sovereign Index
Bloomberg Ghana Local Sovereign Index
Bloomberg Ghana Local Sovereign Index 1 to 10 Year
Bloomberg Ghana Local Sovereign Index 1 to 3 Year
Bloomberg Kenya Local Sovereign Index
Bloomberg Namibia Local Sovereign Index
Bloomberg Namibia Local Sovereign Index 1 to 3 Year
Bloomberg Zambia Local Sovereign Index
Bloomberg Zambia Local Sovereign Index 1 to 10 Year
Bloomberg Zambia Local Sovereign Index 1 to 3 Year
Bloomberg Zambia Local Sovereign Index 10+ Year
Bloomberg S Africa Local Sovereign Index
Bloomberg S Africa Local Sovereign Index 1 to 3 Year
Bloomberg S Africa Local Sovereign Index 10+ Year
Bloomberg Morocco Local Sovereign Index
Bloomberg Mauritius Local Sovereign Index
Bloomberg Nigeria Local Sovereign Index
Bloomberg Philippine Local Sovereign Index
Bloomberg Philippine Sovereign Bond Index 1 to 3 Year
Bloomberg Philippine Sovereign Bond Index 1 to 5 Year
Bloomberg Philippine Sovereign Bond Index 5+ Year
Bloomberg Philippine Sovereign Bond Index AI
Bloomberg Philippine Sovereign Bond Index Money Market
Bloomberg USD UAE Composite Liquid Index
Bloomberg US Treasury Floating Rate 1+ Years Bond Index
Bloomberg CAD High Yield Corporate Bond Index
Bloomberg EM USD Sovereign: Indonesia (BEMSID) Statistics Index
Bloomberg EM Local Currency: Indonesia (BINDO) Statistics Index

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Table 2. Classification Hierarchy
SectorIndustry Group
Cable & SatelliteEntertainment
Communications
Media Non-Cable
Wireless Telecom Services
Wireline Telecom Services
Airlines
Apparal & Textile Products
Automotive
Casinos & Gaming
Consumer Services
Distributors
Educational Services
Consumer Discretionary
Entertainment ResourcesHome & Office ProductsHome Builders
Home Improvements
Leisure Products
Restaurants
Travel & Lodging
Consumer Products
Food & Beverage
Consumer Staples
Retail Staples Supermarkets
TobaccoExploration & Production
Integrated Oils
Oil & Gas Services
EnergyPipeline
Refining & Marketing
Renewable Energy
Banking
Commercial FinanceConsumer Finance
Financials
Financial Services
Life Insurance
Property & Casualty
Real Estate

A Bloomberg Professional Services offering

Sector

HealthIndustrials

Materials

Technology
Utilities

Government

Industry Group
Care
Health Care Facilities & Services
Managed Care
Medical Equipment & Devices
Pharmaceuticals
Aerospace & Defense
Electrical Equipment
Industrial Other
Machinery
Manufactured Goods
Railroad
Transportation & Logistics
Waste & Environment Services Equipment & Facilities
Chemicals
Construction Materials
Construction & Packaging
Forest & Paper Products
Metals & Mining
Communications Equipment
Hardware
Software & Services
Utilities
Sovereign
Government Agency
Government Regional/Local
Supranational
Development Bank
Winding Up Agency

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A Bloomberg Professional Services offering

Table 3. Bloomberg Index Ratings

Index Rating Moody's
AAA
Aaa
AA+
Aa1
AA
Aa2
AAAa3
A+
A1
A
A2
AA3
BBB+
Baa1
BBB
Baa2
BBBBaa3
BB+
Ba1
BB
Ba2
BBBa3
B+
B1
B
B2
BB3
CCC+
Caa1
CCC
Caa2
CCCCaa3
CC
Ca
C
C
D
D

S&P
AAA
AA+
AA
AAA+
A
ABBB+
BBB
BBBBB+
BB
BBB+
B
BCCC+
CCC
CCCCC
C

Fitch
AAA
AA+
AA
AAA+
A
ABBB+
BBB
BBBBB+
BB
BBB+
B
BCCC+
CCC
CCCCC
C

DBRS
AAA
AA highAA
AA low
A highA
A low
BBB highBBB
BBB low
BB highBB
BB low
B highB
B low
CCC high
CCC
CCC lowCC
C

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A Bloomberg Professional Services offering

Annex 2 – Climate-Related Disclosures
EXPLANATION OF HOW ESG FACTORS ARE REFLECTED IN THE
BENCHMARK STATEMENTSECTION 1 – CONSIDERATION OF ESG FACTORS
Item 1. Name of the benchmark
administrator.

Bloomberg Index Services Limited

Item 2. Type of benchmark or family ofbenchmarks.

Fixed Income Corporate Benchmarks
Sovereign Debt Benchmarks

Item 3. Name of the benchmark or familyof benchmarks.

Refer to Annex 1

Item 4. Are there in the portfolio of thebenchmark administrator any EU
Climate Transition Benchmarks, EU
Paris-aligned Benchmarks, benchmarksthat pursue ESG objectives orbenchmarks that take into account ESG
factors?

Yes

Item 5. Does the benchmark or family ofbenchmarks pursue ESG objectives?

No

Item 6. Where the response to Item 5 is positive, provide below the details (score) in relation to the following
ESG factors: combined ESG factors, environmental, social and governance for each family of benchmarks at an
aggregated level.
The ESG factors shall be disclosed at an aggregated weighted average value at the level of the family ofbenchmarks.
a) List of combined ESG factors:

Details on each ESG factor: N/Ab) List of environmental factors:

Details on each ESG factor: N/Ac) List of social factors:

Details on each ESG factor: N/Ad) List of governance factors:

Details on each ESG factor: N/A

Item 7. Where the response to Item 5 is positive, provide below the details (score) for the benchmark or family ofbenchmarks, in relation the following ESG factors: combined ESG factors, environmental, social and governance,
depending on the relevant underlying asset concerned.
Alternatively, all of this information may be provided in the form of a hyperlink to a website of the benchmark
administrator included in the benchmark statement. The information on the website shall be easily available andaccessible. Benchmark administrators shall ensure that information published on their website remains available
for five years.
The score of the ESG factors shall not be disclosed for each constituent of the benchmark, but shall be disclosed
at an aggregated weighted average value of the benchmark.

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A Bloomberg Professional Services offeringa) List of combined ESG factors:

Details on each ESG factor: N/Ab) List of environmental factors:

Details on each ESG factor: N/Ac) List of social factors:

Details on each ESG factor: N/Ad) List of governance factors:

Details on each ESG factor: N/A

Hyperlink to the information on ESG
factors for the benchmark or family ofbenchmarks:

N/A

Item 8. Data and standards used.
a) Description of data sources used toprovide information on the ESG factors inthe benchmark statement.

N/A

Describe how the data used to provide
information on the ESG factors in thebenchmark statement are sourced andwhether, and to what extent, data are
estimated or reported.

b) Reference standards.

N/A

List the supporting standards used forthe reporting under item 6 and/or item 7.

SECTION 2 – ADDITIONAL DISCLOSURE REQUIREMENTS FOR EU CLIMATE
TRANSITION AND EU PARIS-ALIGNED BENCHMARKS
Item 9. Where a benchmark is labelled as ‘EU Climate Transition Benchmark’ or ‘EU Paris-aligned
Benchmark’, benchmark administrators shall also disclose the following information:a)forward-looking year-on-year
decarbonisation trajectory;b) degree to which the IPCC
decarbonisation trajectory (1,5°C
with no or limited overshoot) has
been achieved on average per
year since creation;c)overlap between those benchmarks
and their investable universe, as
defined in Article 1, point (e), of
Commission DelegatedRegulation

N/A

N/A

N/A

(EU) 2020/1818, using the active
share at asset level.

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SECTION 3 – DISCLOSURE OF THE ALIGNMENT WITH THE OBJECTIVES OF THE PARISAGREEMENT
Item 10. By the date of application of this Regulation, for significant equity and bond benchmarks, EU
Climate Transition Benchmarks and EU Paris-aligned Benchmarks, benchmark administrators shall, for eachbenchmark, or where applicable, the family of benchmarks, disclose the following information:
Noa) Does the benchmark align with thetarget of reducing carbon
emissions or the attainment of theobjectives of the Paris Agreement;

Not applicable. The benchmark is not aligned with the target ofb) the temperature scenario, in
reducing carbon emissions or the attainment of the objectives of theaccordance with international
Paris Agreement and therefore no temperature scenario is used.
standards, used for the alignment
with the target of reducing GHG
emissions or the attainment of theobjectives of the Paris Agreement;
Not applicable. There is no temperature scenario provider as noc) the name of the provider of thetemperature scenario is used.
temperature scenario used for thealignment with the target of
reducing GHG emissions or theattainment of the objectives of theParis Agreement;d) the methodology used for themeasurement of the alignment
with the temperature scenario;e)the hyperlink to the website of thetemperature scenario used.

Date on which information has last
been updated and reason for the
update:Not applicable. The benchmark does not use a methodology tomeasure alignment with a temperature scenario as no temperature
scenario is used
Not applicable. There is no temperature scenario used.

28 January 2022. Update of Section 3 disclosures.

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