Banca Ifis

AGM Information • May 16, 2017

MINUTES OF THE ORDINARY GENERAL SHAREHOLDERS' MEETING ITALIAN REPUBLIC

21st APRIL 2017

On the 21st (twenty-first) day of April 2017 (two thousand and seventeen) at 9.00 (nine o'clock) a.m., at the registered office of the Company, "BANCA IFIS S.p.A.", in Venice-Mestre, Via Terraglio no. 63, the Ordinary General Shareholders' Meeting was convened. In attendance:

• SEBASTIEN EGON FURSTENBERG born in Lausanne (Switzerland) on 24th January 1950, domiciled for the office in Venice-Mestre, Via Terraglio no. 63, an Austrian citizen, who declares to be participating in this act in his role as President of the Board of Directors of the Company, "BANCA IFIS S.p.A." with registered office in Venice-Mestre, Via Terraglio no. 63, fully paid up share capital €53,811,095.00, tax ref. and Venice Business Register registration number 02505630109, Economic Administrative Index no. 0247118, Member of the Interbank Deposit Protection Fund, ABI [Italian Banking Association] Code 3205.2, registered in the Banking Register at no. 5508, Parent Company of Gruppo Bancario Banca IFIS, quoted on the Mercato Telematico Azionario (screen-based stock exchange) - STAR segment - managed by "Borsa Italiana S.p.A." As per Article 5 of the Shareholders' Meeting Regulations, Vincenzo Schiazzano, Head of Corporate Affairs, an official of the Bank, was designated by the Shareholders' Meeting to carry out the duties of Secretary and to minute the decisions that will be taken by the Company's Ordinary General Shareholders' Meeting convened to discuss and deliberate on the following

AGENDA:

1) Approval of the Annual Financial Statement as at 31st December 2016; notification of the Group's Consolidated Annual Financial Statement as at 31st December 2016; allocation of profits for the year; inherent and consequent resolutions; 2) Remuneration policies for corporate officers, employees and

associates of the Banca IFIS banking Group: Remuneration report.

As requested, the Secretary, Vincenzo Schiazzano - with the assistance of Sara Baso, also from the bank's Corporate Affairs unit - acknowledges that the meeting takes place as follows.

SEBASTIEN EGON FÜRSTENBERG assumed Presidency of the

Shareholders' Meeting, as per the Shareholders' Meeting Regulations, who, in collaboration with the Managing Director, GIOVANNI BOSSI, noted and asked for the following to be included in these minutes:

• that the Meeting should be recorded for the purposes of preparing the minutes and that the recordings, once the minutes are prepared, will be deleted; he specified that the processing of personal data must be carried out in accordance with Legislative Decree 196/2003;

• that the Shareholders' Meeting was regularly convened with notice made available to the public on 13th March 2017 at "Borsa Italiana S.p.A." and the authorised storage facility, , as well as on the Company's website (Corporate Governance section - Shareholders' Meetings) and published from the original on 14th March 2017 in the newspaper "Italia Oggi", in single call for today 21st April 2017 at 9.00 a.m. at the registered office;

• that the notice convening the meeting reported the Shareholders' right to request additions to the agenda and to present new draft resolutions as per Article 126 b of Legislative Decree 58/1998 and that no Shareholder had made use of this right;

• that as per Article 135 k of Legislative Decree no. 58/1998 the Company has identified the Chartered Accountant, CHIARA BOLDRIN, with offices in Venice 30122, Castello 5507, as designated representative for this Meeting to whom the Shareholders could delegate proxy, without incurring charges and that no Shareholder had made use of this right;

• that the Chartered Accountant, CHIARA BOLDRIN, has declared to not having any interest in her own right or on behalf of third parties with respect to the items on the agenda;

• that to better comply with the regulatory provisions relating to the right to ask questions before the Meeting (in particular, Article 127 c of the Italian Consolidated Finance Law) and during the Meeting, the following procedure will be used: (i) all questions submitted in writing before the Meeting and any questions submitted in writing during the discussion will be answered on a question by question basis, except where multiple questions have the same content, which will be given a joint response; (ii) the questions submitted orally during discussions will be answered at the end of all the speeches, based on what the speech contains;

• that deposits of records and documents, all legally required notices were carried out and the obligations of market disclosure were met;

• that the current share capital, as listed in the Venice Business Register on 5th August 2010, is €53,811,095.00 (fifty-three million, eight hundred and eleven thousand and ninety-five point zero zero) represented by 53,811,095 (fiftythree million eight hundred and eleven thousand and ninetyfive) registered ordinary shares of €1 (one) each;

• that to obtain Shareholders' Meeting admission credentials, communication was required from an intermediary, as per Clause 9 of the Articles of Association, relating to shares owned. These communications are outlined in the document attached to these minutes at letter "A";

• that as per Legislative Decree no. 196/2003 (Personal Data Protection Code), the data of the participants at the Shareholders' Meeting is collected and processed by the Company solely for the purpose of complying with obligatory meeting and corporate requirements, though in any case to ensure security and confidentiality;

• that at 9.05 a.m. (nine zero five a.m.) the Shareholders listed in the document attached to this report at letter "B" are present, meaning that 42,564,390 (forty-two million five hundred and sixty-four thousand three hundred and ninety) ordinary shares with voting rights are represented at the General Shareholders' Meeting out of a total number of 53,811,095 (fifty-three million eight hundred and eleven thousand and ninety five) ordinary shares that make up the share capital, equal to 79.099% (seventy-nine point zero nine nine percent) of the share capital;

• that as of today's date according to the Shareholders' Book, supplemented by the communications received as per Article 120 of Legislative Decree no. 58/1998 (amended, with effect from 18th March 2016, by Legislative Decree no. 25 of 15th February 2016, which increased the threshold obliging a Shareholder's participation in the Meeting from 2% to 3%) and other information available, the Shareholders who hold more than 3% (three percent) of subscribed share capital represented by shares with voting rights are:

"LA SCOGLIERA S.p.A." holder of 26,966,847 (twenty-six million nine hundred and sixty-six thousand eight hundred and fortyseven) ordinary shares equal to 50.114% (fifty point one one four percent) of the share capital;

GIOVANNI BOSSI holder of 1,852,586

(one million eight hundred and fifty-two thousand five hundred and eighty-six) ordinary shares equal to 3.443% (three point four four three percent) of the share capital;

• that there are no agreements referred to in Article 122 Legislative Decree no. 58/1998;

• that at today's date, "BANCA IFIS S.p.A." holds 380,151 (three hundred and eighty thousand one hundred and fifty-one) of its own shares, equal to 0.706% (zero point seven zero six per cent) of the share capital;

• that the Board of Directors is represented by the President, the Vice President, ALESSANDRO CSILLAGHY DE PACSER, the Chief Executive Officer, GIOVANNI BOSSI, the Directors, FRANCESCA MADERNA, ANTONELLA MALINCONICO and RICCARDO PREVE, whilst the Director, GIUSEPPE BENINI, will be involved during the course of the meeting, as later clarified;

• that the Board of Statutory Auditors is represented by the Standing Auditors, GIOVANNA CIRIOTTO and MASSIMO MIANI, whilst the President, GIACOMO BUGNA will be involved during the course of the meeting, as later clarified;

• that the Remuneration Committee is represented by its President, FRANCESCA MADERNA, and the Committee member, RICCARDO PREVE;

• that as per Article 2429, Italian Civil Code and Article 154 c of Legislative Decree No. 58/1998, "BANCA IFIS S.p.A"'s annual financial report, including its draft budget, and the Group's consolidated financial statements, of which "BANCA IFIS S.p.A" is the Parent Company as at 31st December 2016, accompanied by the Directors' Management Report, the Board of Auditors' report and the independent auditor's report prepared by "EY S.p.A." and the declaration as per Article 154 b, paragraph 5 of Legislative Decree No. 58/1998 have all been made available to the public at the Company's registered office, "Borsa Italiana S.p.A." and the authorised storage facility, , as well as on the Company's website, and that the documentation is available to the Shareholders participating in the Shareholders' Meeting;

• that in accordance with Article 125 c of Legislative Decree no. 58/1998, the Board of Directors has drawn up the relevant Explanatory Report regarding proposals concerning the matters under discussion at today's meeting and that the report was filed at the Company's registered office, "Borsa Italiana S.p.A." and the authorised storage facility, , as well as on the Company's website, and that the documentation is available to the Shareholders participating in the Shareholders' Meeting;

• that as per Article 123 b, paragraph 3 of Legislative Decree

No. 58/1998, on 16th March 2017, the Board of Directors approved the "Corporate Governance and Ownership Structure Report"; the report, prepared based on the format provided by "Borsa Italiana S.p.A.", was filed at the Company's registered office, "Borsa Italiana S.p.A." and the authorised storage facility , as well as on the Company's website along with the draft budget for the closed financial year to 31st December 2016 and is available to the Shareholders participating in the Shareholders' Meeting;

• that Shareholders are entitled to request copies of the documentation referred to in the previous points;

• that accredited journalists, experts, financial analysts and representatives of the External Auditors "EY S.p.A." were permitted to attend the Shareholders' Meeting;

• that the General Manager, ALBERTO STACCIONE, attended;

• that a number of the Company's employees and associates were present in the room and at the entrance for operational reasons.

At this point, the President requested that participants, when voting, should communicate any absence of legitimacy to vote under applicable law which provides that:

• anyone who holds, directly or indirectly, a shareholding above 3% in a Company with publicly traded shares (2% until 17th March 2016, as already pointed out) must give written notice to that Company and to Consob;

• they are subject to specific legal obligations and must report to the Bank of Italy any acquisition of stakes in banks that, in view of those already held, result in: a) a shareholding equal to or greater than 10%, that is, reaching or exceeding thresholds of 20%, 33% and 50% of the share capital or voting rights; b) the ability to exercise significant influence over the bank's management; c) control of the bank, regardless of the size of shareholding;

• holders of significant shareholdings in banks must satisfy the integrity requirements laid down by applicable regulations and that, in the absence of such requirements, voting rights relating to shareholdings that exceed the shareholding thresholds established by those regulations may not be exercised.

The President acknowledged that the right of admission to the vote of all entities falling under the circumstances outlined above was checked. The President then ascertained and declared that, on the basis of the available information for admission to the vote, the necessary checks had been performed and

nobody declared any impediments.

The President reminded that the names of those who declared they would not be voting, who would be voting against, abstaining or who would be leaving the room before each vote must be recorded in the minutes. For the purposes of the minutes, the President asked that Shareholders, as far as possible, should refrain from leaving. Those who had to leave should communicate when they leave the room at the appropriate points and should avoid leaving the room during voting.

The President reported, as per Consob Communication no. 96003558 of 18th April 1996, that the auditing firm "EY S.p.A.", have, for their tasks as approved by the General Shareholders' Meeting of 17th April 2014, carried out 2,270 (two thousand two hundred and seventy) hours of work to review and report the financial statements and the consolidated financial statements as at 31st December 2016, with total fees of €164,000.00 (one hundred and sixty-four thousand Euros point zero zero).

With the preliminary formalities completed and having ascertained that the Meeting was validly constituted and able to deliberate on the items on the agenda, the President stated that voting should be by a show of hands and moved on to the discussion of the agenda by addressing the first item "Approval of the financial statement as at 31st December 2016; notification of the Group's consolidated financial statement as at 31st December 2016; allocation of net profit for the year; related and consequent resolutions".

The President referred to the contents of the Directors' Management Report. The President then invited the Shareholders to review the financial statement and consolidated financial statement and the related supporting notes contained in the folder distributed to those present, which he omitted reading on the express authorisation of the Meeting.

The President then discussed the reports on the financial statement and the consolidated financial statement drawn up by the auditing company "EY S.p.A.".

The President then put to the Shareholders' Meeting the proposed allocation of the profit for the financial year 2016 of €71,721,930.39 (seventy-one million seven hundred and twenty-one thousand nine hundred and thirty Euros point three nine) as follows:

a) a cash dividend to shareholders (gross of taxes) of €0.82 (zero point eight two Euros) for each ordinary share with exdividend coupon date of (no. 20) 2nd May 2017. This dividend includes the portion attributable to the treasury shares held by the Company. As per Article 83-m of Legislative Decree no. 58/1998, legitimation of the dividend payment is determined with reference to the evidence of the intermediary's accounts referred to in Article 83-d, paragraph 3 of Legislative Decree no. 58/1998, at the end of the accounting day of 3rd May 2017 (the so-called record date);

b) the remaining amount to be allocated to other reserves. The President notified that the dividend for the financial year 2016 will be payable from 4th May 2017. Payment will be made through the authorised intermediaries with whom the shares are registered in the Monte Titoli system.

Then, the President called the Standing Auditor, Giovanna Ciriotto, to speak, who, on behalf of the Board of Auditors, gave a summary of the Statutory Auditors' report on the financial statement and on the consolidated financial statement and on the supervisory activities carried out and delivered a favourable opinion on the proposed allocation of profits as outlined earlier.

Mrs. Ciriotto highlighted, amongst other things, that two thirds of the Board of Auditors were in their second term (Mr. Miani was appointed by the Shareholders' Meeting of 22nd March 2016) and that the Board of Auditors met 28 times in 2016 and attended 21 Board of Directors' meetings, as well as other Directors' internal Committee meetings. Referring to the full text of the report made available to the shareholders, Mrs. Ciriotto briefly touched upon:

• the fact that Banca IFIS, in 2016, was the subject of a Bank of Italy audit and that the investigations were concluded without particular consequence;
• the acquisition, on 30th November 2016 and with authorisation from the competent supervisory authority, from GE Capital International Holding Limited of its entire shareholding, equal to 99.993%, in the share capital of the former GE Capital Interbanca S.p.A. (today, Interbanca S.p.A.) and its subsidiaries (now called IFIS Leasing S.p.A., IFIS Factoring S.r.l. and IFIS Rental Services S.r.l.) and the appointment of the President and a standing member of Banca IFIS's Board of Auditors in analogous positions on the auditing boards of the acquired companies;
• the consequent enlargement of the Banca IFIS banking Group;
• the development of significant sources of funding, such as securitisation, to repay in full the funding provided by

the previous parent company of the Group, GE Capital Interbanca S.p.A.;

• the exercise of the Purchase Price Allocation (PPA) on the acquisition outlined earlier;
• the sale of a number of NPL portfolios on the secondary market;
• the need to constantly verify the adequacy of the organisational structure, including human resources and with particular reference to the control function;

the change of Financial Reporting Officer during 2016.

Mrs. Ciriotto concluded that the Board of Auditors had no observations to present to the Meeting regarding the approval of financial statement as at 31st December 2016 or objections regarding the approval of financial statements, the proposal for the distribution of profits and the distribution of dividends.

The President thanked Mrs. Ciriotto and declared the debate open.

The President asked the Shareholder, Raffaele Rizzardi, to speak, who had requested to speak as per Article 9 of the Shareholders' Meeting Regulations.

Mr. Rizzardi opened by expressing an appreciation for the metaphorical image printed on the cover of the financial report: the image, which reworks a painting by Caspar with the peaks emerging from the mists, is an effective representation, according to Mr. Rizzardi, of Banca IFIS's positive trend in an area and industry that is still, unfortunately, very negative.

He then goes on to comment on the remarkable gain on bargain purchase arising from the acquisition of GE Capital Interbanca Group, as described on page 221 of the consolidated financial statement booklet, with particular regard to the possibility of using tax assets after incorporation of Interbanca, which should take place in 2017, and the theoretical possibility of a price adjustment, and, finally, adding his congratulations for the operation by asking for a comment and/or a confirmation from the CEO.

The President thanked Mr. Rizzardi for his comments and the words of appreciation and asked the CEO to respond.

Firstly, the CEO assured that from ongoing contact with the seller regarding the implementation of what was agreed in terms of a price adjustment, an adjustment by Banca IFIS can be pretty much ruled out.

Mr. Bossi then concisely retraced the events that led to this

acquisition, beginning with General Electric Group's announcement to the market in the first half of 2015 about its desire to get out of the financial sector in Europe and to auction the GE Capital Interbanca Group, believing, at that point, that a sale, albeit at a low price, would probably be a better solution than the potential liquidation of a company with about 500 employees. Mr. Bossi continued by saying that, on the one hand, Banca IFIS has taken advantage of not having to compete with other banking competitors, several of which find themselves in situations of inadequate profitability and/or insufficient capitalisation, and, on the other hand, of the opportunity, compared to private equity competitors, of being able to take advantage of the tax assets correctly addressed by Mr. Rizzardi.

During the discussion, first the President of the Board of Auditors, GIACOMO BUGNA, then the Director, GIUSEPPE BENINI, joined proceedings.

Noting that no-one else had requested to speak, the President considered the information provided regarding the financial statement and corporate management appropriate and declared the discussion closed.

The President then declared voting on the first agenda item to be open.

The President once again invited the Shareholders to disclose any absence of legitimacy to vote as per current regulations as referred to earlier.

• At 9.33 a.m. (nine thirty-three a.m.) the Shareholders listed in the document attached to this report at letter "B" are present, meaning that 42,564,390 (forty-two million five hundred and sixty-four thousand three hundred and ninety) ordinary shares with voting rights are represented at the General Shareholders' Meeting out of a total number of 53,811,095 (fifty-three million eight hundred and eleven thousand and ninety five) ordinary shares that make up the share capital, equal to 79.099% (seventy-nine point zero nine nine percent) of the share capital.

The Shareholders' Meeting

• having noted the Board of Directors' report on item 1) of the agenda;

• having noted the report on the financial statement and on the consolidated financial statement prepared by the Board of Statutory Auditors and on the supervisory activities carried out by those Auditors;

• having noted the reports on the financial statement and on the consolidated financial statement drawn up by the Auditing Company;

RESOLVES

A) TO APPROVE the annual financial statement for the period ending 31st December 2016, with the management report presented by the Board of Directors;

B) TO ALLOCATE the net profit for the period equal to €71,721,930.39 (seventy-one million seven hundred and twentyone thousand nine hundred and thirty point three nine Euros) as follows:

a) a cash dividend to shareholders (gross of taxes) of €0.82 (zero point eight two Euros) for each ordinary share with exdividend coupon date of (no. 20) 2nd May 2017. This dividend includes the portion attributable to the treasury shares held by the Company. As per Article 83-m of Legislative Decree no. 58/1998, legitimation of the dividend payment is determined with reference to the evidence of the intermediary's accounts referred to in Article 83-d, paragraph 3 of Legislative Decree no. 58/1998, at the end of the accounting day of 3rd May 2017 (the so-called record date);

b) to other reserves as for the remaining amount;

C) TO PAY the above dividend from 4th May 2017. Payment will be made through the authorised intermediaries with whom the shares are registered in the Monte Titoli system;

with the following result revealed by a show of hands:

• votes in favour: 42,404,779 (forty-two million four hundred and four thousand seven hundred and seventy-nine); - votes against: none;

• abstentions: 159,611 (one hundred and fifty-nine thousand six hundred and eleven);

• non-voting: none.

The names of shareholders who voted in favour, of the shareholders who voted against and shareholders who abstained and the related number of shares are shown in the document attached to these minutes at letter "C".

Addressing the second agenda item "Remuneration Policy for Officers, Employees and Collaborators of Banca IFIS banking Group: Remuneration Report", the President presented the document "Remuneration Report" approved by "BANCA IFIS S.p.A."'s Board of Directors at its meeting of 2nd March 2017. This report has been made available to the public at the Company's registered office, "Borsa Italiana S.p.A." and the authorised storage facility and on the Company's website since 16th March 2017 together with the "Corporate Governance and Ownership Structure Report".

The President reported that with this remuneration report the Board of Directors had intended to comply with the provisions of Article 123-c of the Italian Consolidated Finance Law, with banking sector protocol and with the self-regulation standards contained in the Corporate Governance Code for listed companies.

The Report contains additional information, in aggregate form, on individuals known as "Risk-takers" not covered by the article of the Italian Consolidated Finance Law.

With regards to the regulatory framework, the President recalled:

a) with reference to primary and secondary regulations applicable to listed companies:

• Article 123-c of the Italian Consolidated Finance Law containing the provision requiring companies to make a Remuneration Report available to the public at least twentyone days prior to the date of the Ordinary Shareholders' Meeting to approve the annual financial statement;

• Article 84-d of the Issuers' Regulations containing the requirement to make the Remuneration Report available to the public, drawn up in compliance with the "Figure 7-b" of Annex 3A of the Issuers' Regulations;

b) with reference to the secondary regulations applicable to Banks and Banking Groups:

• Circular no. 285 of 17 December 2013 – "Supervisory Provisions for Banks" of 20 November 2014 that, by implementing the provisions of directive 2013/36/EU (CRD IV) relating to the prudential supervision of credit institutions and investment companies, has updated the regulations for the remuneration policies and practices and incentive schemes of banks and [banking] groups;

c) with reference to self-regulation rules of listed companies:

• the "Format for the Corporate Governance and Ownership Structure Report" of listed companies made available by "Borsa Italiana S.p.A." in January 2017;

• the Corporate Governance Code approved by the Corporate Governance Committee.

The President pointed out that:

• the Remuneration Committee, in the course of its preliminary

work on this subject, has read the text of the Remuneration Report approved by the Board of Directors; - the Remuneration Committee is represented at this meeting by its President, FRANCESCA MADERNA, and Committee member, RICCARDO PREVE. The President, assisted by the Chief Executive Officer, then

went on to outline the contents of the Remuneration Report, a copy of which is attached to these minutes at letter "D". Briefly, the Remuneration Report consists of:

Section I, aimed at illustrating the company's remuneration policy for members of its management bodies, general managers and executives with strategic responsibilities, as well as for the "Risk Takers" not falling within the scope of Article 123-c of the Italian Consolidated Finance Law, and the procedures used to adopt and implement this policy. This section describes the policy provided for the financial year 2017. The Ordinary Shareholders' Meeting is called to decide

for or against Section I of the Report;

Section II, organised in two parts; the first aimed at showing each remuneration entry for the members of the management and control bodies, the general managers and, in aggregated form, with regard to executives with strategic responsibilities, as well as the "Risk Takers". The second part shows a table of the remuneration paid during the financial year 2016 or relating to it, for whatever reason and in whatever form by the Company and subsidiaries or affiliates, as indicated by Appendix 3A, Figure 7 b of the Issuer Regulations. A table is then placed that shows the further information required under Article 450 of Regulation (EU) no. 575 of June 26, 2013 for Banca IFIS and other Group companies.

The main changes contained in the "Remuneration Report" are aimed at better aligning Remuneration and Incentive Policies with the objectives of: compatibility with levels of capital and liquidity, financial stability, medium to long-term direction and compliance with regulations.

The access conditions for the variable component (gate) that apply to all staff were clarified, making them dependent on: a Group consolidated result, before taxes for that particular financial year, exceeding €60 million; compliance with the minimum Group Liquidity Coverage Ratio (LCR) indicator limits, as defined by prevailing regulations, calculated as an average of the last twelve month-ends of the year in question; a consolidated Total Expense Ratio that is greater than capital requirements (Overall Capital Requirement) communicated by the Supervisory Body under the "Decisions on capital" at the conclusion of the periodic supervisory review process (SREP). Consequently, the formulas for calculating the variable component for the CEO and General Manager were consequently adjusted, increasing the share of net profit before taxes not yet calculated and excluding from this calculation any elements arising from extraordinary operations.

In the "Remuneration Report", the materiality threshold laid down for implementing the rules on deferment and partial payment in shares, as well as for the application of malus and claw back facilities, was also reconsidered, lowering it to €70,000,

To better align individual objectives to business results and value creation targets in the medium to long term, the possibility of a further Long Term Incentive has been defined for business units with a gross budget profit of more than €20 million in 2017. Taking the Parent Company's strategically important projects and/or extraordinary operations into consideration, the potential for an allowance as a default sum, under specific conditions, has been set out for key personnel who play a particularly important role in these initiatives, not linked to performance.

Finally, the methods of performance assessment were specified for key personnel responsible for corporate control functions, making it clear that any variable components may be proposed by the Remuneration Committee, in consultation with the Chief Executive Officer and the General Manager, to the Board of Directors.

The following were also confirmed for the financial year 2017:

• a) the structure of variable component for key personnel exceeding the materiality threshold, also maintaining the choice not to provide for the payment of a substantial variable component. This is considered a variable remuneration that exceeds the fixed salary which, due to the limits laid down ex-ante by the parent company, can never occur;
• b) the vesting period (three years) for the deferred variable component;
• c) the retention period (three years) for the up-front part to be paid in shares and (one year) for the deferred part payable in in shares;

d) the relationships between the variable and fixed components of remuneration for key personnel, including the limit of 33% for key personnel with business control functions.

Finally, the Report indicates, in compliance with Article 84-d of the Issuers' Regulations, the shares held by members of both the Board of Directors and the Board of Statutory Auditors, by the General Manager and by other executives with strategic responsibilities.

The proposals contained in Section I of the Report also involve, as per Article 114 b of the Italian Consolidated Finance Law and its implementing rules (Article 84 b of the Issuers 'Regulations), the need to make an information document available to the public, prior to the deadline for publication of the notice of convening today's Shareholders' Meeting, i.e. 31st March 2017, at the Company's registered office, "Borsa Italiana S.p.A." and the authorised storage facility and on the Company's website, regarding the resulting remuneration plan based on the allocation of Banca IFIS shares to certain corporate figures. The President then presented the results of the inspection by the Internal Audit Department which show how remuneration practices comply with regulatory requirements (inspection report also presented to the Board on 16th March 2017), as required by Circular no. 285 of 17th December 2013.

The President declared the debate open.

Noting that no one had requested to speak, the President considered the information provided to be appropriate and declared the discussion closed.

The President then declared voting on the second agenda item to be open.

The President once again invited the Shareholders to disclose any absence of legitimacy to vote as per current regulations as referred to earlier.

• At 9.45 a.m. (nine forty-five a.m.) the Shareholders listed in the document attached to this report at letter "B" are present, meaning that 42,564,390 (forty-two million five hundred and sixty-four thousand three hundred and ninety) ordinary shares with voting rights are represented at the General Shareholders' Meeting out of a total number of 53,811,095 (fifty-three million eight hundred and eleven thousand and ninety five) ordinary shares that make up the share capital, equal to 79.099% (seventy-nine point zero nine nine percent) of the share capital.

The Shareholders' Meeting

• having noted the Board of Directors' report on item 2) of the agenda;

• having acknowledged the report on the implementation of remuneration policies during the financial year 2016, as per Clause 10 of the Articles of Association and applicable law, within the framework of the document "Remuneration Report" drawn up as per Article 123 c of the Italian Consolidated Finance Law;

• having acknowledged the outcome of the checks carried out by the Internal Audit Department on the methods used to ensure the remuneration practices comply with regulatory requirements.

RESOLVES

A) TO APPROVE the contents of Section I of the document, "Remuneration Report", drawn up as per Article 123 c of the Italian Consolidated Finance Law; also, to ensure that Banca IFIS banking Group's remuneration policies for 2017 comply with the same Article, this document is attached to these minutes at letter "D";

B) TO APPROVE the remuneration plan based on the allocation of Banca IFIS shares to certain corporate figures, described in the briefing document prepared as per Article 114-b of the Italian Consolidated Finance Law and its implementing rules (Article 84 b of the Issuers' Regulations) and made available to shareholders as required by law;

with the following result revealed by a show of hands:

• votes in favour: 42,525,367 (forty-two million five hundred and twenty-five thousand three hundred and sixty-seven);

• votes against: 4,319 (four thousand three hundred and nineteen);

• abstentions: 34,704 (thirty-four thousand seven hundred and four);

• non-voting: none.

The names of shareholders who voted in favour, of the shareholders who voted against and shareholders who abstained and the related number of shares are shown in the document attached to these minutes at letter "E".

With there being no other matters to decide on and no-one asking to speak, the President declared discussion of the agenda completed, thanked the Shareholders for their participation and declared the Shareholders' Meeting closed at 9.50 a.m. (nine fifty a.m.)

The President exempted the Secretary from reading the attachments.

President Secretary

Sebastien Egon Furstenberg Vincenzo Schiazzano

APPENDIX A LIST OF ADMISSION CREDENTIALS ISSUED

	SHAREHOLDER	ADMISSION CREDENTIALS
		ISSUED
1	LA SCOGLIERA S.P.A.	26.966.847
2	ALBIZZATI TIZIANO VINCENZO	2.500
3 4	ALCHIMIA SPA BOALO' PIETRO AMERIGO	1.076.247 1.000
5	BOSSI GIOVANNI	1.838.646
6	BOVE KATRIN	2
7	CARADONNA GIANFRANCO MARIA	1
8 9	CARADONNA MARCELLA CASELLI LAURA	1 1.000
10	CHIESA DANIELA	2.500
11	CONTE PASQUALE IGNAZIO PASQUALE	10
12	COZZA PIETRO	500
13 14	FAVALLI ARRIGO FISCO AMICO	1.000 10
15	LAUDI GIULIANO	5
16	LOIZZI GERMANA	2
17	MADERNA FRANCESCA	1.070.422
18	MAFFEI FACCIOLI CARLO FRANCESCO JACOPO	42.000
19 20	MIOTTI FRANCO NEGRI NILO	1.000 500
21	PANDOLFO FABRIZIO	3.200
22	PORTALUPPI ANNAMARIA CRISTINA	1.250
23	PREVE COSTRUZIONI SPA	1.150.000
24	PREVE RICCARDO	92.168
25 26	REALE DAVIDE GIORGIO RIZZARDI RAFFAELE	2 1.000
27	RODINO` DEMETRIO	2
28	RODINO` WALTER	1
29	SIMONE GIAN LUIGI	5
30	STACCIONE ALBERTO	140.000
31 32	1199 SEIU HEALTH CARE EMPLOYEES PENSION FUND 3M CANADA COMPANY MASTER TRUST	59.591 6.520
33	3M ERIP ACADIAN GLOBAL	22.976
34	70030 PD GLOBALE AKTIER VII	31.941
35	ACADIAN INTERNATIONAL SMALL CAPFUND	13.728
36	ACADIAN NON-US SMALL-CAP LONG-SHORT EQUITY FUND LLC	681
37 38	ACCIDENT COMPENSATION CORPORATION ACTIVE INTERNATIONAL SMALL CAP LENDING COMMON TRUST FUND	14.497 20.497
39	AGI PV WS RCM IND 8490 07 5210 SPK	8.285
40	ALASKA PERMANENT FUND CORPORATION	2.981
41	ALKEN FUND	876.749
42 43	ALLIANZGI FONDS GANO 2 ALLIANZGI-FONDS DSPT	2.323 5.300
44	ALTRIA CLIENT SERVICES MASTER RETIREM.T.	19.502
45	AMG TRILOGY INTERNATIONAL SMALLCAP FUND	17.503
46	ANZ WHOLESALE INTERNATIONAL SHARE NO. 3	2.600
47	AQR INTERNATIONAL SMALL CAP EQUITY FUND, L.P.	17.485
48 49	ARIZONA STATE RETIREMENT SYSTEM ARKANSAS STATE HIGHWAY EMPLOYEES RETIREMENT SYSTEM	7.802 9.500
50	ARROWSTREET CAPITAL GLOBAL EQUITY - ALPHA AXTENSION FUND LIMITED	17.499
51	AXA ROSENBERG EQUITY ALPHA TRUST	2.400
52	AXA WORLD FUNDS	51.077
53 54	BBH TRUSTE SERV. (IE) LIMITED BGI MSCI EAFE SMALL CAP EQUITY INDEX FUND B	12.342 6.992
55	BLACKROCK AM SCH AG OBO BIFS WORLD EX SW SMALL CAP EQ INDEX F	2.518
56	BLACKROCK INDEXED ALL-COUNTRY EQUITY FUN	107
57	BLACKROCK INST TRUST CO NA INV FUNDSFOR EMPLOYEE BENEFIT TR	107.563
58	BLACKROCK MSCI WORLD SMALL CAP EQ ESG SCREENED INDEX FUND B	320
59 60	BLUE SKY GROUP BMO NESBITT BURNS SEG ACCT	4.319 7.000
61	BNY MELLON EMPLOYEE BENEFIT COLLECTIVE INVESTMENT FUND PLAN	750
62	BNYMTD CF MITON EUROPEAN OPPS FUND	92.417
63	BOARD OF PENSIONS OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA	7.205
64	BOILERMAKER BLACKSMITH NATIONAL PENSION	5.344
65 66	BOSTON PATRIOT CONGRESS ST LLC C/O PANAGORA ASSET MANAGEMENT, INC. BRICKLAYERS + TROWEL TRADES INTERNATIONAL PENSION FUND	100 300
67	CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM	48.563
68	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	28.678
69	CARPIMKO PM CAPI H	19.000
70 71	CASEY FAMILY PROGRAMS CBOSC ATF CBGS-WGSS02 NEW	11.070 21.099
72	CE8F WILLIAM BLAIR ISCE	39.262
73	CF DV ACWI EX-U.S. IMI FUND	129

74	CG CAYMAN FUND LIMITED	4.771
75	CH0526 - UBS (CH) INSTITUTIONAL FUND - EQUITIES GLOBAL SMALL CAP PASSIVE II	1.140
76	CHEVRON MASTER PENSION TRUST	12.158
77	CITY OF LOS ANGELES FIRE AND POLICE PENSION PLAN	3.366
78	CITY OF NEW YORK DEFERRED COMPENSATION PLAN	39.705
79	CITY OF NEW YORK GROUP TRUST	134.340
80 81	CLINTON EQUITY STRATEGIES MASTER FUND LTD CLINTON LIGHTHOUSE EQUITY STRATEGIES FUND (OFFSHORE) LP CO CLINTON GROUP, I	23.732 739
82	CLINTON LIGHTHOUSE EQUITY STRATEGIES MASTER FUND LTD. C/O CLINTON GROUP,	2.906
83	COLLEGE RETIREMENT EQUITIES FUND	103.952
84	COLLEGES OF APPLIED ARTS AND TECHNOLOGY PENSION P	18.038
85	COLONIAL FIRST STATE INVESTMENTS LIMITED.	3.529
86	COLTRANE MASTER FUND L.P.	1.316
87	CONNECTICUT GENERAL LIFE INSURANCE COMPANY	122
88	COPPER ROCK INTERNATIONAL SMALL CAP FUND	316.372
89	COUNSEL GLOBAL SMALL CAP	32.184
90	COX ENTERPRISES INC MASTER TRUST	3.526
91	CPA COP PSERS ACADIAN ASSET MGMT	11.488
92	CPA COP PSERS BATTERYMARCH FIN MGT	7.645
93 94	CPA COP PSERS WASATCH ADVISORS CTJ RE STANLIB GLOBAL EQ HOSKING	57.255 27.866
95	DELTA MASTER TRUST	60.525
96	DELTA PILOTS DISABILITY AND SURVIVORSHIP	6.246
97	DEUTSCHE X-TRACKERS MSCI EMU HEDGED EQUITY ETF	246
98	DIGNITY HEALTH	1.507
99	DIGNITY HEALTH RETIREMENT PLAN TRUST	1.389
	100 DOMINION RESOURCES INC. MASTER TRUST	24.068
	101 DONNELLEY FINANCIAL PENSION TRUST	1.082
	102 DUKE ENERGY RETIREMENT SAVINGS PLAN	1.571
	103 DUPONT AND RELATED COMP DEFINED CONTRIBUTION PLAN MASTER TR	4.200
	104 EMPLOYEES RETIREMENT FUND OF THE CITY OF DALLAS	13.245
	105 ENSIGN PEAK CP LSV INTL SMALL	21.700
	106 ENSIGN PEAK INTL SC LSV ASSET	87.510
	107 ERGOS OFFSHORE I LTD CO HARNEYS CORPORATE SERVICES	50
	108 EXELON CORPORATION DEF CONTRIBUTION RET PLANS MASTER TR	15.379
	109 EXELON CORPORATION PENSION MASTER RETIREMENT TRUST 110 FCP ASTORG CROISSANCE MID CAP	26.093 8.562
	111 FCP GROUPAMA AVENIR EURO	715.049
	112 FCP HSBC TECHNOLOGIE	46.008
	113 FIDELITY SAL ST T SPARTAN TOTAL INT IN F	160
	114 FIRE AND POLICE PENSION FUND SAN ANTONIO	2.145
	115 FLEXSHARES MORNINGSTAR DEVELOPED MARKETS EX-US FACTOR TILT INDEX FUND	1.617
	116 FLORIDA RETIREMENT SYSTEM .	169.339
	117 GLOBEFLEX INTERNATIONAL PARTNERS LTD	4.300
	118 GOVERNMENT INSTITUTIONS PENSION FUND	1.510
	119 GOVERNMENT OF NORWAY	1.535.618
	120 GOVERNMENT OF THE PROVINCE OF ALBERTA	12.900
	121 GOVERNMENT SUPERANNUATION FUND	12.994
	122 GW+K INTERNATIONAL SMALL CAP FUND, L.P. 123 HIGHMARK LIMITED HIGHMARK LONG SHORT EQUITY 2 CO PANAGORA ASSET	17.645 50
	124 HOSKING GLOBAL FUND PLC	248.158
	125 HOSKING PARTNERS COLLECTIVE INVESTMENT TRUST	22.414
	126 HOSTPLUS POOLED SUPERANNUATION TRUST	32.259
	127 HRW TESTAMENTARY TRUST NO. 10	9.229
	128 HSBC GLOBAL INVESTMENT FUNDS	154.495
	129 IBM 401K PLUS PLAN	15.840
	130 ILLINOIS MUNICIPAL RETIREMENT FUND	53.176
	131 ILLINOIS STATE BOARD OF INVESTMENT	4.207
	132 INDIANA PUBLIC RETIREMENT SYSTEM	760
	133 INTEL CORP RETIREMENT PLANS MASTER FUND	13.300
	134 INTERNATIONAL LP I	538
	135 INTERNATIONAL MONETARY FUND 136 INTERNATIONAL PAPER CO COMMINGLED INVESTMENT GROUP TRUST	472 66.097
	137 ISHARES CORE MSCI EAFE ETF	34.190
	138 ISHARES CORE MSCI EAFE IMI INDEX ETF	1.358
	139 ISHARES MSCI EAFE SMALL CAP ETF	79.855
	140 ISHARES MSCI EUROPE SMALL-CAP ETF	1.710
	141 ISHARES VII PLC	20.029
	142 ISLAND CAPITAL INVESTMENTS II, LLC	2.509
	143 JOHCM INTERNATIONAL SMALL CAP EQUITY FUND	73.683
	144 KAISER PERMANENTE GROUP TRUST	12.258
	145 KP INTERNATIONAL EQUITY FUND	1.358
	146 LABORERS' AND RET BOARD EMPL ANNUITY & BENEFIT F OF CHICAGO	9.375
	147 LATTICE GLOBAL SMALL CAP STRATEGY ETF	98
	148 LEGAL AND GENERAL ASSURANCE PENSIONS MANAGEMENT LIMITED	3.501
	149 LEGAL AND GENERAL COLLECTIVE INVESTMENT TRUST 150 LOCKHEED MARTIN CORPORATION MASTER RETIREMENT TRUST	490 5.115
	151 LSC PENSION TRUST	10.240
	152 M+G INVESTMENT FUNDS (7)- M+G PAN EUROPEAN DIVIDEND FUND	112.500
	153 MAINSTAY 130/30 INTERNATIONAL FUND	17.441
	154 MAINSTAY ABSOLUTE RETURN MULTI-STRATEGY FUND	1.881
	155 MAINSTAY VP FUNDS TRUST MAINSTAY VP MARKETFIELD PORTFOLIO	8.113
	156 MAN NUMERIC EUROPEAN ALPHA RESTRICTED MAPLESCORP SERVICES LTD	5.450
	157 MAP 192 SEGREGATED PORTFOLIO, A SEG PORT OF LMA SPC MGD BY PANAGORA ASST MGMNT INC PM ACT	24.296

158 MARRIOTT INT, INC. POOLED INV TR FOR PARTICIPANT DIRECTED ACC	8.491
159 MARYLAND STATE RETIREMENT & PENSION SYSTEM	1.578
160 MDPIM INTERNATIONAL EQUITY POOL	4.000
161 MERCER DIOCESE OF BROOKLYN GROWTH STRATEGY	1.018
162 MERCER DIOCESE OF BROOKLYN LAY PENSION INVESTMENT TRUST	540
163 MERCER INTERNATIONAL EQUITY FUND	3.315
164 METZLER INTERNATIONAL INV. PLC	190.000
165 MGI FUNDS PLC	15.659
166 MICROSOFT GLOBAL FINANCE	23.859
167 MILLPENCIL US LP	145
168 MM SELECT EQUITY ASSET FUND	293
169 MSCI EAFE SMALL CAP PROV INDEX SEC COMMON TR F	4.483
170 MULTI-STYLE, MULTI-MANAGER FUNDS PLC	23.952
171 MUNICIPAL EMPLOYEES' ANNUITY AND BENEFIT FUND OF CHICAGO	1.353
172 MUNICIPAL EMPLOYEES' RETIREMENT SYSTEM OF MICHIGAN	36.117
173 NATIONAL COUNCIL FOR SOCIAL SECURITY FUND, P.R.C	1.999
174 NATIONAL RAILROAD RETIREMENT INVESTMENT TRUST	54.874
175 NATIONAL WESTMINSTER BANK PLC AS TRUSTEE OF KES STRAT INV F	3.409
176 NEW YORK STATE COMMON RETIREMENT FUND	46.164
177 NEW ZEALAND SUPERANNUATION FUND	1.185
178 NKB 10513 GLOBAL DIVERSIFIED	14.498
179 NORTH DAKOTA STATE INVESTMENT BOARD	3.554
180 NORTHERN TRUST GLOBAL INVESTMENTS COLLECTIVE FUNDS TRUST	18.280
181 NTGI-QM COMMON DAILY ALL COUNWD EX-US INV MKT INDEX F NONLEND	657
182 NUMERIC ABS RETURN PD LP-EUNARMN	2.330
183 NUMERIC MULTI STRATEGY MARKET NEUTRAL LEVERED OFFSHORE FUND LIMITED	19
184 NUMERIC SOCIALLY AWARE MULTI STRATEGY FUND LTD	10
185 ODEY INVESTMENTS PLC	57.567
186 OIL INVESTMENT CORPORATION LTD.	4.220
187 ONEPATH GLOBAL SHARES - SMALL CAP INDEX	1.186
188 OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM	15.359
189 OWENS CORNING DEFINED BENEFIT MAS TR	5.999
190 PACIFIC SELECT FUND INTERNATIONAL SMALL-CAP PORTFOLIO	65.695
191 PANAGORA ASSET MANAGEMENT INC	251
192 PANAGORA DIVERSIFIED ARBITRAGE MASTER FUND LTD	4.153
193 PECO ENERGY COMPANY RETIREE MEDICAL TRUST	1.745
194 PENSION PLAN FOR THE EMPLOYEES OF CONCORDIA UNIVERSITY	4.469
195 PENSION RESERVES INVESTMENT TRUST FUND	13.470
196 PF INTERNATIONAL SMALL CAP FUND	3.400
197 PHC NT SMALL CAP	1.290
198 PINE ISLAND III, LLC	12.127
199 POLICEMEN'S ANNUITY AND BENEFIT FUND OF CHICAGO	14.919
200 PRODUCER-WRITERS GUILD OF AMERICA PENSION PLAN	378
201 PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO	28.415
202 PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF NEW MEXICO	1.070
203 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF MISSISSIPI	8.639
204 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	105.674
205 QANTAS SUPERANNUATION PLAN	15.781
206 REGIME DE RENTES DU MOUVEMENT DESJARDINS	26.922
207 RENAISSANCE GLOBAL SMALL-CAP FUND	1.983
208 RETAIL EMPLOYEES SUPERANNUATION TRUST	117.079
209 ROB AND MELANI WALTON FOUNDATION	3.110
210 ROWF GT ACWI EX US	32.894
211 RUSSELL INVESTMENT COMPANY IV PLC	4.056
212 RUSSELL INVESTMENT COMPANY PLC	3.227
213 SACRAMENTO COUNTY EMPLOYEES RETIREMENT SYSTEM	23.784
214 SBC MASTER PENSION TRUST	8.092
215 SBC MASTER PENSION TRUST SBC MASTER PENSION TRUST 208	22.193
216 SCHRODER INTERNATIONAL SELECTION FUND	117.376
217 SCHWAB INTERNATIONAL SMALL-CAP EQUITY ETF	11.690
218 SCS NAVIGATOR FUND	9.700
219 SEI GLOBAL MASTER FUND PLC	6.805
220 SHELL PENSIONS TRUST LIMITED AS TRUSTEE OF SHELL CONTRIBUTORY PENSION FUND	17.555
221 SHELL TRUST (BERMUDA) LIMITED AS TRUSTEE	1.364
222 SHELL TRUST (BERMUDA) LTD AS TRUSTEE OF THE SHELL OVERSEAS C.P. FUND	6.153
223 SOUTH CALIF UTD FOOD & COMM WK UN & FOOD EMPL JOINT PENS TR F	5.040
224 SPDR S&P INTERNATIONAL SMALL CAP ETF	9.492
225 SPDR S&P WORLD (EX-US) ETF	8.354
226 SS BK AND TRUST COMPANY INV FUNDS FOR TAXEXEMPT RETIREMENT PL	141.542
227 STATE OF ALASKA RETIREMENT AND BENEFITS PLANS	194
228 STATE OF MINNESOTA	1.934
229 STATE OF MONTANA BOARD OF INVESTMENTS	11.679
230 STATE OF NEW JERSEY COMMON PENSION FUND D	106.945
231 STATE STREET GLOBAL ADVISORS LUXEMBOURG SICAV	29.926
232 STG PFDS V.D. GRAFISCHE	16.145
233 STICHTING PENSIOENFONDS VOOR HUISARTSEN	1.903
234 STICHTING PHILIPS PENSIOENFONDS	3.778
235 STICHTING SHELL PENSIOENFONDS	31.284
236 SUNSUPER SUPERANNUATION FUND	47.032
237 TEACHERS' RETIREMENT SYSTEM OF THE STATE OF ILLINOIS	125.555
238 TEACHERS'S RETIREMENT SYSTEM OF OKLAHOMA	69.268
239 TEAMSTERS PENSION TRUST FUND OF PHILADELPHIA AND VICINITY	2.456
240 TENNESSEE CONSOLIDATED RETIREMENT SYSTEM 241 TEXAS MUNICIPAL RETIREMENT SYSTEM	9.487 61.792

242 TEXAS SCOTTISH RITE HOSPITAL FOR CRIPPLED CHILDREN	1.078
243 THE BARCLAYS BANK UK RETIREMENT FUND	38.524
244 THE BOEING COMPANY EMPLOYEE RETIREMENT P	46.347
245 THE CLEVELAND CLINIC FOUNDATION	2.008
246 THE EDUCATIONAL EMPLOYEES SUPPLEMENTARY RETIREMENT SYSTEM OF FAIRFAX CO	5.586
247 THE GBC INTL GROWTH FUND	28.461
248 THE METHODIST HOSPITAL	11.901
249 THE NOVA SCOTIA HEALTH EMPLOYEES PENS PL	797
250 THE REGENTS OF THE UNIVERSITY OF CALIFORNIA	242
251 THE ROCKEFELLER FOUNDATION	10.385
252 THE STATE OF CONNECTICUT ACTINGTHROUGH ITS TREASURER	113.934
253 THE TIFF KEYSTONE FUND, L.P.	4.063
254 THE TRUSTEES OF CATERPILLAR PENSION PLAN	2.000
255 TIFF INVESTMENT PROGRAM, INC - TIFF MULTI-ASSET FUND	21.714
256 TOUCHSTONE STRATEGIC TRUST-INT	80.646
257 TWO SIGMA ABSOLUTE RETURN PORTFOLIO LLC CORPORATION SERVICE COMPANY	57
258 TWO SIGMA SPECTRUM PORTFOLIO LLC.	178
259 TXMF LSV	17.700
260 UAW RETIREE MEDICAL BENEFITS TRUST	2.627
261 UBS (US) GROUP TRUST	717
262 UBS ETF	1.033
263 UBS FUND MGT (CH) AG CH0516/UBSCHIF2-EGSCPII	4.447
264 UNISUPER	1.568
265 UNIVERSAL INVEST BAYVK A1 FONDS	4.945
266 UNIVERSITY OF GUELPH FOREIGN PROPERTY TRUST	4.096
267 UPS GROUP TRUST	24.696
268 UTAH STATE RETIREMENT SYSTEMS	1.867
269 UTC ACADIAN ASSET MGMT	3.155
270 VANGUARD DEVEL ALL-CAP EX NORTH AMERICA EQT IND POOLED FUND	38
271 VANGUARD DEVELOPED MARKETS INDEX FUND	90.548
272 VANGUARD EUROPEAN STOCK INDEX FUND	38.295
273 VANGUARD FTSE ALL WORLD SMALL CAP IND FU	33.933
274 VANGUARD FTSE DEVELOPED ALL CAP EX NORTH AMERICA INDEX ETF	85
275 VANGUARD FTSE DEVELOPED EUROPE ALL CAP INDEX ETF	178
276 VANGUARD INTERNATIONAL SMALL COMPANIES I	1.125
277 VANGUARD INV FUNDS ICVC-VANGUARD FTSE GLOB ALL CAP IND FUND	107
278 VANGUARD INVESTMENT SERIES, PLC	4.145
279 VANGUARD TOTAL INTERNATIONAL STOCK INDEX	251.516
280 VANGUARD TOTAL WORLD STOCK INDEX FUND	6.213
281 VERMONT PENSION INVESTMENT COMMITTEE	21.296
282 VFM SMALL COMPANIES TRUST	29.782
283 VFMC INTERNATIONAL EQUITY TRUST 1	8.805
284 VFMC INTERNATIONAL EQUITY TRUST 2	17.603
285 VIRGINIA RETIREMENT SYSTEM .	131.453
286 VOYA MM INTL SM CAP FND ACADIAN	3.654
287 WASATCH GLOBAL OPPORTUNITIES FUND	21.474
288 WASATCH INTERNATIONAL GROWTH FUND	345.468
289 WASATCH INTL SMALL CAP GROWTH	12.395
290 WASHINGTON STATE INVESTMENT BOARD	1.432
291 WEST VIRGINIA INVESTMENT MANAGEMENT BOARD	39.266
292 WILLIAM BLAIR COLLECTIVE INVESTMENT TRUST	117.816
293 WILLIAM BLAIR INTERNATIONAL SMALL CAP GROWTH FUND	118.914
294 WISDOMTREE DYNAMIC CURRENCY HEDGED INTRNL SMALLCAP	77
295 WISDOMTREE EUROPE HEDGED SMALLCAP EQUITY FUND	15.511
296 WISDOMTREE EUROPE LOCAL RECOVERY FUND	299
297 WISDOMTREE EUROPE SMALLCAP DIVIDEND FUND	138.741
298 WISDOMTREE INTERNATIONAL SMALLCAP DIVIDEND FUND	74.482
299 WISDOMTREE ISSUER PUBLIC LIMITED COMPANY	8.236
300 WM POOL - EQUITIES TRUST NO. 72	21.457
301 WYOMING RETIREMENT SYSTEM	58.297
301 TOTAL SHAREHOLDERS' MEETING ADMISSION CREDENTIALS ISSUED	42.636.380
	79,2334%

APPENDIX B

LIST OF SHAREHOLDER MEETING PARTICIPANTS

Share capital € 53.811.095,00

				SHA RES	TO TAL	% o f Sh are
PAR TIC IPA NT	NO TES	SHA OL REH DER	OW N S HA RES	RES REP ENT ED	SHA RES	Cap ital
				BY PRO XY
ZAN USS I NI COL A	Pro xy	LA SCO GLI ERA S.P .A.		26.9 66.8 47	26.9 66.8 47	50, 113 9%
CAS ELL I GI ORG IO	Pro xy	ALB IZZ ATI TIZ IAN O V INC ENZ O		2.50 0	2.50 0	0,00 46%
ZAN USS I NI COL A	Pro xy	ALC HIM IA S PA		1.07 6.24 7	1.07 6.24 7	2,00 00%
CAS ELL I GI ORG IO	Pro xy	BO ALO ' PIE TRO AM ERI GO		1.00 0	1.00 0	0,00 19%
BO SSI GIO VA NN I	Sha reho lder	BO SSI GIO VA NN I	1.83 8.64 6		1.83 8.64 6	3,4 169 %
CAS ELL I GI ORG IO	Pro xy	CA SEL LI L AU RA		1.00 0	1.00 0	0,00 19%
CAS ELL I GI ORG IO	Pro xy	CH IES A D AN IEL A		2.50 0	2.50 0	0,00 46%
COZ ZA PIE TRO	Sha reho lder	CO ZZA PIE TRO	500		500	0,00 09%
MA DER NA FR AN CES CA	Sha reho lder	MA DER NA FR AN CES CA	1.07 0.42 2		1.07 0.42 2	1,98 92%
MIO AN CO TTI FR	Sha reho lder	MIO AN CO TTI FR	1.00 0		1.00 0	0,00 19%
DO LFO ZIO PAN FA BRI	Sha reho lder	DO LFO ZIO PAN FA BRI	3.20 0		3.20 0	0,00 59%
CAS ELL I GI ORG IO	Pro xy	POR TAL UPP I AN NA MA RIA CR IST INA		1.25 0	1.25 0	0,00 23%
PRE VE RIC CAR DO	al re tive Leg enta pres	PRE VE COS TRU ZIO NI S PA	1.15 0.00 0		1.15 0.00 0	2,13 71%
PRE VE RIC CAR DO	Sha reho lder	PRE VE RIC CAR DO	92.1 68		92. 168	0,17 13%
RIZ ZAR DI R AFF AEL E	Sha reho lder	RIZ ZAR DI R AFF AEL E	1.00 0		1.00 0	0,00 19%
STA CCI ON E A LBE RTO	Sha reho lder	STA CCI ON E A LBE RTO	140 .000		140 .000	0,26 02%
GA RBU IO R OBE RTA	Pro xy	119 9 SE IU H EAL TH CAR E E MP LOY EES PE NSI ON FU ND		59.5 91	59.5 91	0,1 107 %
GAR O R OBE RTA BUI	Pro	3M CAN ADA CO MPA NY MAS TER TR UST		6.52 0	6.52 0	0,0 121 %
GAR BUI O R OBE RTA	xy Pro	3M ERI P A CAD IAN GLO BAL		22.9 76	22.9 76	0,04 27%
GAR BUI O R OBE RTA	xy Pro	700 30 P D G LOB ALE AK TIE R V II		31.9 41	31.9 41	0,05 94%
GAR O R OBE RTA	xy	AC AD IAN ATI ON AL SM ALL CA		13.7 28	13.7 28
BUI	Pro xy	INT ERN PFU ND				0,02 55%
GA RBU IO R OBE RTA	Pro xy	AC AD IAN NO N-U S SM ALL -CA P L ON G-S HO RT EQU ITY FU ND LL C		681	681	0,00 13%
GAR O R OBE RTA BUI	Pro xy	ACC IDE NT COM PEN SAT ION CO RPO RAT ION		14.4 97	14.4 97	0,02 69%
GA RBU IO R OBE RTA	Pro xy	AC TIV E IN TER NA TIO NA L S MA LL CAP LE ND ING CO MM ON TR UST FU ND		20.4 97	20.4 97	0,03 81%
GAR BUI O R OBE RTA	Pro xy	AGI PV WS RC M IN D 84 90 0 7 52 10 S PK		8.28 5	8.28 5	0,0 154 %
GAR BUI O R OBE RTA	Pro xy	ALA SKA PE RM AN ENT FU ND CO RPO RAT ION		2.98 1	2.98 1	0,00 55%
GAR BUI O R OBE RTA	Pro xy	ALK EN FUN D		876 .749	876 .749	1,62 93%
GAR O R OBE RTA BUI	Pro xy	ALL IAN ZGI FO S G AN O 2 ND		2.32 3	2.32 3	0,00 43%
GAR BUI O R OBE RTA	Pro xy	ALL IAN ZGI -FO ND S D SPT		5.30 0	5.30 0	0,00 98%
GAR BUI O R OBE RTA	Pro xy	ALT RIA CL IEN T S ERV ICE S M AST ER RET IRE M.T		19.5 02	19.5 02	0,03 62%
GA RBU IO R OBE RTA	Pro xy	AM G T RIL OG Y IN TER NA TIO NA L S MA LLC AP FUN D		17.5 03	17.5 03	25% 0,03
GAR BUI O R OBE RTA	Pro xy	AN Z W HO LES ALE INT ERN ATI ON AL SHA RE NO . 3		2.60 0	2.60 0	0,00 48%
GAR BUI O R OBE RTA	Pro xy	AQR INT ERN ATI ONA L SM ALL CA P E QUI TY FUN D, L .P.		17.4 85	17.4 85	0,03 25%
GAR BUI O R OBE RTA	Pro xy	ARI ZON A S TAT E R ETIR EME NT SYS TEM		7.80 2	7.80 2	0,0 145 %
GAR BUI O R OBE RTA	Pro xy	ANS AS STA HIG LOY EES SYS ARK TE HW AY EMP RE TIR EME NT TEM		9.50 0	9.50 0	0,0 177 %
GA IO R OBE RTA RBU	Pro xy	AR ROW STR CA AL GLO BAL EQ ALP HA ENS ION EET PIT UIT Y - EXT FU ND LIM ITE D		17.4 99	17.4 99	0,03 25%
GAR BUI O R OBE RTA	Pro xy	AXA RO SEN BER G E QUI TY ALP HA TRU ST		2.40 0	2.40 0	0,00 45%
GAR BUI O R OBE RTA	Pro xy	AXA WO RLD FU NDS		51.0 77	51.0 77	0,09 49%
GAR BUI O R OBE RTA	Pro xy	BBH TR UST E S ERV . (IE ) LI MIT ED		12.3 42	12.3 42	0,02 29%
GAR BUI O R OBE RTA	Pro xy	BG I M SCI EA FE SM ALL CA P E QU ITY IND EX FUN D B		6.99 2	6.99 2	0,0 130 %
GA IO R OBE RTA RBU	Pro xy	BLA CKR OCK AM SC H A G O BO S W ORL X S W S MA CAP EQ BIF D E LL IND EX F		2.5 18	2.51 8	0,00 47%
GAR BUI O R OBE RTA	Pro xy	BLA CKR OCK IND EXE D A LL- COU NTR Y E QU ITY FU N		107	107	0,00 02%
GA RBU IO R OBE RTA	Pro xy	BLA CKR OCK INS T T RU ST CO NA INV FU ND SFO R E MP LOY EE BEN EFI T T R		107 .563	107 .563	0,19 99%
GA RBU IO R OBE RTA	Pro xy	BLA CKR OCK MS CI W ORL D S MA LL CAP EQ ES G S CRE ENE D IN DEX FU ND B		320	320	0,00 06%
GAR BUI O R OBE RTA	Pro xy	BLU E S KY GRO UP		4.31 9	4.3 19	0,00 80%
GAR BUI O R OBE RTA	Pro xy	BMO NE SBI TT BUR NS SEG AC CT		7.00 0	7.00 0	0,0 130 %
GA RBU IO R OBE RTA	Pro xy	BN Y M ELL ON EM PLO YEE BE NEF IT C OLL ECT IVE INV EST ME NT FUN D P LAN		750	750	0,00 14%
GA RBU IO R OBE RTA	Pro xy	BN YM TD CF MIT ON EU ROP EAN OP PS F UN D		92.4 17	92.4 17	0,17 17%
GAR O R OBE BUI RTA	Pro	BOA RD OF PEN SIO NS OF THE EV ANG ELIC AL LUT HER AN CHU RCH IN AM ERI CA		7.20 5	7.20 5	0,0 134 %
GAR BUI O R OBE RTA	xy Pro	BO ILE RM AKE R B LAC KSM ITH NA TIO NA L P ENS ION		5.34 4	5.34 4	0,00 99%
GAR BUI O R OBE RTA	xy Pro	BO STO N P ATR IOT CO NG RES S ST LL C C /O P AN AG ORA AS SET MA NA GEM ENT , IN C.		100	100	0,00 02%
GAR BUI O R OBE RTA	xy Pro	BRI CKL AY ERS + T ROW EL TRA DES INT ERN ATI ON AL PEN SIO N F UN D		300	300	0,00 06%
GAR BUI O R OBE RTA	xy Pro	CA LIF ORN IA P UBL IC E MP LOY EES RE TIR EM ENT SY STE		48.5 63	48.5 63
	xy	M				0,09 02%
GAR O R OBE RTA BUI	Pro xy	CA ORN IA S TAT EAC S R SY STE LIF E T HER ETI REM ENT M		28.6 78	28.6 78	0,05 33%
GAR BUI O R OBE RTA	Pro xy	CA RPI MK O P M C API H		19.0 00	19.0 00	0,03 53%
GAR BUI O R OBE RTA	Pro xy	CAS EY FAM ILY PRO GRA MS		11.0 70	11.0 70	0,02 06%
GAR BUI O R OBE RTA	Pro xy	CBO SC ATF CB GS- WG SS0 2 N EW		21.0 99	21.0 99	0,03 92%
GAR BUI O R OBE RTA	Pro xy	CE8 IR IS CE F W ILLI AM BLA		39.2 62	39.2 62	0,07 30%
GAR O R OBE RTA BUI	Pro xy	CF DV ACW I EX -U.S . IM I FU ND		129	129	0,00 02%
GAR BUI O R OBE RTA	Pro xy	CG CAY MA N F UN D L IMI TED		4.77 1	4.77 1	0,00 89%
GA RBU IO R OBE RTA	Pro xy	CH 052 6 - U BS (CH ) IN STI TUT ION AL FUN D - EQU ITIE S G LOB AL SM ALL CA P PA SSI VE II		1.14 0	1.14 0	0,00 21%
GAR BUI O R OBE RTA	Pro xy	CHE VRO N M AST ER PEN SIO N T RUS T		58 12.1	158 12.	0,02 26%

GA IO R OBE RTA RBU	Pro xy	CIT Y O OS AN GEL ES E A PO LIC ENS ION AN F L FIR ND E P PL	3.36 6	3.36 6	0,00 63%
GA RBU IO R OBE RTA	Pro xy	CIT Y O F N EW YOR K D EFE RRE D C OM PEN SAT ION PLA N	39.7 05	39.7 05	0,07 38%
GA RBU IO R OBE RTA	Pro xy	CIT Y O F N EW YO RK GRO UP TRU ST	134 .340	134 .340	0,24 97%
GA RBU IO R OBE RTA	Pro xy	CLI NTO QU ST RAT EGI ES MA STE N E ITY R F UN D L TD	23.7 32	23.7 32	0,04 41%
GA RBU IO R OBE RTA	Pro xy	CLI NTO N L IGH THO USE EQ UIT Y S TRA TEG IES FU ND (OF FSH ORE ) LP CO CL INT ON GR OU P, IN C.	739	739	0,00 14%
GA IO R OBE RTA RBU	Pro xy	CLI NTO N L IGH THO USE EQ UIT Y S TRA TEG IES MA STE R F UN D L TD. C/O CL INT ON GR OU P, IN C	2.90 6	2.90 6	0,00 54%
GA RBU IO R OBE RTA	Pro xy	CO LLE GE RET IRE ME NT EQU ITIE S FU ND	103 .952	103 .952	0,19 32%
GA RBU IO R OBE RTA	Pro xy	CO LLE GES OF AP PLI ED ART S A ND TE CHN OLO GY PE NSI ON P	18.0 38	18.0 38	0,03 35%
GA RBU IO R OBE RTA	Pro xy	COL ON IAL FIR ST STA TE INV EST ME NTS LIM ITE D.	3.52 9	3.52 9	0,00 66%
GA RBU IO R OBE RTA	Pro xy	COL TRA NE MA STE R F UN D L .P.	1.31 6	1.31 6	0,00 24%
GA IO R OBE RTA RBU	Pro xy	CO ECT ICU T G RAL SUR AN CE COM PAN NN ENE LIF E IN Y	122	122	0,00 02%
GA RBU IO R OBE RTA	Pro xy	COP PER RO CK INT ERN ATI ONA L SM ALL CA P FU ND	316 .372	316 .372	0,58 79%
GA RBU IO R OBE RTA	Pro xy	COU NSE L G LOB AL S MAL L CA P	32.1 84	32.1 84	0,05 98%
GA RBU IO R OBE RTA	Pro xy	COX EN TER PRI SES INC MA STE R T RUS T	3.52 6	3.52 6	0,00 66%
GA RBU IO R OBE RTA	Pro xy	CPA CO SER S A CAD AS SET MG P P IAN MT	11.4 88	11.4 88	0,02 13%
GA RBU IO R OBE RTA	Pro xy	CPA CO P P SER S B ATT ERY MAR CH FIN MGT	7.64 5	7.64 5	0,01 42%
GA RBU IO R OBE RTA	Pro xy	CPA CO P P SER S W ASA TCH AD VIS ORS	57.2 55	57.2 55	0,10 64%
GA RBU IO R OBE RTA	Pro	CTJ ST IB G LOB EQ HOS G RE ANL AL KIN	27.8 66	27.8 66	0,05 18%
GA IO R OBE RTA RBU	xy Pro	DEL TA MA STE R T RU ST	60.5 25	60.5 25	0,11 25%
GA RBU IO R OBE RTA	xy Pro	DEL TA PIL OTS DIS ABI LIT Y A ND SU RVI VO RSH IP	6.24 6	6.24 6	0,01 16%
GA RBU IO R OBE RTA	xy Pro	DEU TSC HE X-T RAC KER S M SCI EM U H EDG ED EQU ITY ET F	246	246	0,00 05%
GA RBU IO R OBE RTA	xy Pro	DIG NIT Y H EAL TH	1.50 7	1.50 7	0,00 28%
GA RBU IO R OBE RTA	xy Pro	DIG NIT Y H EAL TH RET IRE ME NT PLA N T RU ST	1.38 9	1.38 9	0,00 26%
GA IO R OBE RTA RBU	xy Pro	DO ION SOU RCE S IN C. M AST MIN RE ER TRU	24.0 68	24.0 68
	xy	ST			0,04 47%
GA RBU IO R OBE RTA	Pro xy	DON NEL LEY FIN ANC IAL PEN SIO N T RUS T	1.08 2	1.08 2	0,00 20%
GA RBU IO R OBE RTA	Pro xy	DU KE ENE RGY RE TIR EM ENT SA VIN GS PLA N	1.57 1	1.57 1	0,00 29%
GA RBU IO R OBE RTA	Pro xy	DUP ONT AN D R ELA TED CO MP DEF INE D C ONT RIB UTI ON PLA N M AST ER TR	4.20 0	4.20 0	0,00 78%
GA RBU IO R OBE RTA	Pro xy	EM PLO YEE S R ETI REM ENT FU ND OF TH E C ITY OF DA LLA S	13.2 45	13.2 45	0,02 46%
GA RBU IO R OBE RTA	Pro xy	ENS IGN PE AK CP LSV INT L SM ALL	21.7 00	21.7 00	0,04 03%
GA RBU IO R OBE RTA	Pro xy	ENS IGN PE AK INT L SC LSV AS SET	87.5 10	87.5 10	0,16 26%
GA RBU IO R OBE RTA	Pro xy	ERG OS OFF SHO RE I LT D C O H ARN EYS CO RPO RAT E S ERV ICE S	50	50	0,00 01%
GA IO R OBE RBU RTA	Pro xy	LON CO RPO ION F C ON ION S M AST EXE RAT DE TRI BUT RE T P LAN ER TR	15.3 79	15.3 79	0,02 86%
GA RBU IO R OBE RTA	Pro xy	EXE LON CO RPO RAT ION PE NSI ON MA STE R R ETI REM ENT TR UST	26.0 93	26.0 93	0,04 85%
GA RBU IO R OBE RTA	Pro xy	FCP AS TOR G C ROI SSA NCE MI D C AP	8.56 2	8.56 2	0,01 59%
GA RBU IO R OBE RTA	Pro xy	FCP GR OU PAM A A VEN IR E UR O	715 .049	715 .049	1,32 88%
GA RBU IO R OBE RTA	Pro xy	FCP HS BC TEC HN OLO GIE	46.0 08	46.0 08	0,08 55%
GA IO R OBE RTA RBU	Pro xy	FID ELI TY SAL ST T S PAR TAN TO TAL INT IN F	160	160	0,00 03%
GA RBU IO R OBE RTA	Pro xy	FIR E A ND PO LIC E P ENS ION FU ND SA N A NTO NIO	2.14 5	2.14 5	0,00 40%
GA RBU IO R OBE RTA	Pro xy	FLE XSH ARE S M ORN ING STA R D EVE LOP ED MA RKE TS EX- US FAC TOR TIL T IN DEX FU ND	1.61 7	1.61 7	0,00 30%
GA RBU IO R OBE RTA	Pro xy	FLO RID A R ETI REM ENT SY STE M .	169 .339	169 .339	0,31 47%
GA RBU IO R OBE RTA	Pro xy	GLO ONA ERS BEF LEX INT ERN ATI L PA RTN LTD	4.30 0	4.30 0	0,00 80%
GA IO R OBE RTA RBU	Pro xy	GOV ERN MEN T IN STIT UTI ONS PE NSI ON FUN D	1.51 0	1.51 0	0,00 28%
GA RBU IO R OBE RTA	Pro xy	GO VER NM ENT OF NO RW AY	1.53 5.61 8	1.53 5.61 8	2,85 37%
GA RBU IO R OBE RTA	Pro xy	GOV ERN MEN T O F TH E P ROV INC E O F AL BER TA	12.9 00	12.9 00	0,02 40%
GA RBU IO R OBE RTA	Pro xy	GOV ERN MEN T S UPE RAN NUA TIO N F UND	12.9 94	12.9 94	0,02 41%
GA RBU IO R OBE RTA	Pro xy	GW ONA L SM CA +K INT ERN ATI ALL P FU ND, L.P	17.6 45	17.6 45	0,03 28%
GA RBU IO R OBE RTA	Pro xy	HIG HM AR K L IMI TED HIG HM AR K L ON G S HO RT EQU ITY 2 C O P AN AG ORA AS SET MA NA GEM ENT INC	50	50	0,00 01%
GA RBU IO R OBE RTA	Pro xy	HO SKI NG GL OBA L F UN D P LC	248 .158	248 .158	0,46 12%
GA RBU IO R OBE RTA	Pro xy	HO SKI NG PA RTN ERS CO LLE CTI VE INV EST ME NT TRU ST	22.4 14	22.4 14	0,04 17%
GA IO R OBE RTA RBU	Pro xy	HO STP LUS PO OLE D S UPE RAN NU ATI ON TR UST	32.2 59	32.2 59	0,05 99%
GA RBU IO R OBE RTA	Pro xy	HRW TE STA MEN TAR Y T RUS T N O. 1 0	9.22 9	9.22 9	0,01 72%
GA RBU IO R OBE RTA	Pro xy	HSB C G LOB AL INV EST ME NT FUN DS	154 .495	154 .495	0,28 71%
GA RBU IO R OBE RTA	Pro xy	IBM 401 K P LUS PL AN	15.8 40	15.8 40	0,02 94%
GA RBU IO R OBE RTA	Pro xy	ILL INO IS M UN ICIP AL RET IRE ME NT FUN D	53.1 76	53.1 76	0,09 88%
GA IO R OBE RTA RBU	Pro xy	INO IS S TAT OA OF EST ILL E B RD INV ME NT	4.20 7	4.20 7	0,00 78%
GA RBU IO R OBE RTA	Pro xy	IND IAN A P UBL IC R ETIR EME NT SYS TEM	760	760	0,00 14%
GA RBU IO R OBE RTA	Pro xy	INT EL COR P R ETI REM ENT PL AN S M AST ER FUN D	13.3 00	13.3 00	0,02 47%
GA RBU IO R OBE RTA	Pro xy	INT ERN ATI ON AL LP I	538	538	0,00 10%
GA RBU IO R OBE RTA	Pro xy	INT ERN ATI ON AL MO NET ARY FU ND	472	472	0,00 09%
GA IO R OBE RTA RBU	Pro xy	ATI ON AL PAP CO COM GLE VES GR OU ST INT ERN ER MIN D IN TM ENT P T RU	66.0 97	66.0 97	0,12 28%
GA RBU IO R OBE RTA	Pro xy	ISH ARE S C ORE MS CI E AFE ET F	34.1 90	34.1 90	0,06 35%
GA RBU IO R OBE RTA	Pro xy	ISH S C ORE MS CI E ARE AFE IMI IND EX ETF	1.35 8	1.35 8	0,00 25%
GA IO R OBE RBU RTA	Pro xy	ISH ARE S M SCI EA FE S MAL L CA P ET F	79.8 55	79.8 55	0,14 84%
GA RBU IO R OBE RTA	Pro xy	ISH ARE S M SCI EU ROP E S MAL L-CA P ET F	1.71 0	1.71 0	0,00 32%
GA RBU IO R OBE RTA	Pro	ISH ARE S V II PL C	20.0 29	20.0 29	0,03 72%
GA RBU IO R OBE RTA	xy Pro	ISLA ND CAP ITAL INV EST MEN TS II, L LC	2.50 9	2.50 9	0,00 47%
GA RBU IO R OBE RTA	xy Pro	JOH CM ONA L SM CA QUI INT ERN ATI ALL P E TY FUN D	73.6 83	73.6 83	0,13 69%
GA IO R OBE RTA RBU	xy Pro	KAI SER PE RMA NEN TE GRO UP TRU ST	12.2 58	12.2 58	0,02 28%
GA RBU IO R OBE RTA	xy Pro	KP INT ERN ATI ONA L EQ UITY FU ND	1.35 8	1.35 8	0,00 25%
GA RBU IO R OBE RTA	xy Pro	LAB ORE RS' AN D R ET BOA RD EM PL AN NU ITY & B ENE FIT F O F C HIC AG O	9.37 5	9.37 5	0,01 74%
GA RBU IO R OBE RTA	xy Pro	LAT TIC E G LOB AL SM ALL CA P ST RAT EGY ET	98	98
GA IO R OBE RTA	xy	F LEG AL AN D G RAL AS SUR AN CE SIO NS MA NA GEM LIM ITE	3.50 1	3.50 1	0,00 02%
RBU	Pro xy	ENE PEN ENT D			0,00 65%
GA IO R OBE RTA RBU	Pro xy	LEG AL AN D G RAL CO CTI EST ST ENE LLE VE INV ME NT TRU	490	490	0,00 09%

GA RBU IO R OBE RTA	Pro	LOC KH EED MA RTI N C ORP ORA TIO N M AST ER RET IRE ME NT TRU ST	5.11 5	5.11 5
	xy				0,00 95%
GA IO R OBE RTA RBU	Pro xy	LSC PE NSI ON TRU ST	10.2 40	10.2 40	0,01 90%
GA RBU IO R OBE RTA	Pro xy	M+ G IN VES TM ENT FU ND S (7 )- M +G PAN EU ROP EAN DIV IDE ND FU ND	112 .500	112 .500	0,20 91%
GA RBU IO R OBE RTA	Pro xy	MA INS TAY 130 /30 INT ERN ATI ON AL FUN D	17.4 41	17.4 41	0,03 24%
GA IO R OBE RBU RTA	Pro xy	MAI NST AY ABS OLU TE RET URN MU LTI- STR ATE GY FUN D	1.88 1	1.88 1	0,00 35%
GA RBU IO R OBE RTA	Pro xy	MAI NST AY VP FUN DS TRU ST MAI NST AY VP MAR KET FIEL D P ORT FOL IO	8.11 3	8.11 3	0,01 51%
GA RBU IO R OBE RTA	Pro xy	MA N N UM ERI C E UR OPE AN AL PHA RE STR ICT ED MA PLE SCO RP SER VIC ES LTD	5.45 0	5.45 0	0,01 01%
GA RBU IO R OBE RTA	Pro xy	MAR RIO TT INT , INC . PO OLE D IN V T R F OR PAR TIC IPA NT DIR ECT ED ACC	8.49 1	8.49 1	0,01 58%
GA RBU IO R OBE RTA	Pro xy	MA RYL AN D S TAT E R ETI REM ENT & P ENS ION SY STE M	1.57 8	1.57 8	0,00 29%
GA IO R OBE RTA RBU	Pro	ATI ON AL EQU PO OL MD PIM INT ERN ITY	4.00 0	4.00 0	0,00 74%
GA RBU IO R OBE RTA	xy Pro	MER CER DIO CES E O F BR OO KLY N G ROW TH STR ATE GY	1.01 8	1.01 8
	xy				0,00 19%
GA RBU IO R OBE RTA	Pro xy	MER CER DIO CES E O F BR OO KLY N LA Y P ENS ION INV EST MEN T T RUS T	540	540	0,00 10%
GA RBU IO R OBE RTA	Pro xy	MER CER INT ERN ATI ONA L EQ UITY FU ND	3.31 5	3.31 5	0,00 62%
GA RBU IO R OBE RTA	Pro xy	ME TZL ER INT ERN ATI ON AL INV . PL C	190 .000	190 .000	0,35 31%
GA IO R OBE RTA RBU	Pro xy	MG S PL C I FU ND	15.6 59	15.6 59	0,02 91%
GA RBU IO R OBE RTA	Pro xy	MIC RO SOF T G LOB AL FIN AN CE	23.8 59	23.8 59	0,04 43%
GA RBU IO R OBE RTA	Pro xy	MIL LPE NCI L US LP	145	145	0,00 03%
GA RBU IO R OBE RTA	Pro xy	MM SE LEC T E QUI TY A SSE T F UND	293	293	0,00 05%
GA RBU IO R OBE RTA	Pro xy	MS CI E AFE SM ALL CA P PR OV IND EX SEC CO MM ON TR F	4.48 3	4.48 3	0,00 83%
GA RBU IO R OBE RTA	Pro	MU LTI -ST YLE , MU LTI -MA NA GER FU ND S PL C	23.9 52	23.9 52	0,04 45%
GA RBU IO R OBE RTA	xy Pro	MU NIC IPA L E MP LOY EES ' AN NU ITY AN D B ENE FIT FU ND OF CH ICA	1.35 3	1.35 3
	xy	GO			0,00 25%
GA RBU IO R OBE RTA	Pro xy	MU NIC IPA L E MP LOY EES ' RE TIR EM ENT SY STE M O F M ICH IGA N	36.1 17	36.1 17	0,06 71%
GA IO R OBE RTA RBU	Pro xy	NA TIO NA L C OU NCI OR SOC IAL SE CUR .C L F ITY FU ND , P.R	1.99 9	1.99 9	0,00 37%
GA RBU IO R OBE RTA	Pro xy	NA TIO NA L R AIL ROA D R ETI REM ENT INV EST ME NT TRU ST	54.8 74	54.8 74	0,10 20%
GA RBU IO R OBE RTA	Pro xy	NA TIO NA L W EST MIN STE R B AN K P LC AS TRU STE E O F K ES STR AT INV F	3.40 9	3.40 9	0,00 63%
GA RBU IO R OBE RTA	Pro xy	NEW YO RK STA TE COM MO N R ETI REM ENT FU ND	46.1 64	46.1 64	0,08 58%
GA RBU IO R OBE RTA	Pro xy	NEW ZE ALA ND SU PER AN NU ATI ON FU ND	1.18 5	1.18 5	0,00 22%
GA IO R OBE RTA RBU	Pro xy	NKB 105 13 G LOB AL DIV ERS IFIE D	14.4 98	14.4 98	0,02 69%
GA RBU IO R OBE RTA	Pro xy	NO RTH DA KO TA STA TE INV EST ME NT BOA RD	3.55 4	3.55 4	0,00 66%
GA RBU IO R OBE RTA	Pro xy	NO RTH ERN TR UST GL OBA L IN VES TM ENT S C OLL ECT IVE FU ND S TR UST	18.2 80	18.2 80	0,03 40%
GA RBU IO R OBE RTA	Pro xy	NTG I-QM CO MM ON DA ILY AL L C OU NW D E X-U S IN V M KT IND EX F N ON LEN D	657	657	0,00 12%
GA IO R OBE RTA RBU	Pro xy	NU ME RIC AB S R ETU RN PD LP- EUN ARM N	2.33 0	2.33 0	0,00 43%
GA RBU IO R OBE RTA	Pro xy	NU ME RIC MU LTI ST RAT EGY MA RKE T N EUT RAL LE VER ED OFF SHO RE FUN D L IMI TED	19	19	0,00 00%
GA RBU IO R OBE RTA	Pro xy	NU ME RIC SO CIA LLY AW ARE MU LTI ST RAT EGY FU ND LT D	10	10	0,00 00%
GA IO R OBE RBU RTA	Pro xy	OD EY INV EST ME NTS PL C	57.5 67	57.5 67	0,10 70%
GA RBU IO R OBE RTA	Pro xy	OIL INV EST ME NT COR POR ATI ON LT D.	4.22 0	4.22 0	0,00 78%
GA RBU IO R OBE RTA	Pro	ON EPA TH GLO BAL SH ARE S - S MA LL CAP IND EX	1.18 6	1.18 6	0,00 22%
GA RBU IO R OBE RTA	xy Pro	ORE GO N P UBL IC E MPL OYE ES RET IRE MEN T SY STE M	15.3 59	15.3 59	0,02 85%
	xy	OW ENS CO RNI NG DE FIN ED BEN EFI T M AS
GA RBU IO R OBE RTA	Pro xy	TR	5.99 9	5.99 9	0,01 11%
GA IO R OBE RTA RBU	Pro xy	PAC IFIC SE LEC T F UND INT ERN ATI ONA L SM ALL -CA P P ORT FOL IO	65.6 95	65.6 95	0,12 21%
GA RBU IO R OBE RTA	Pro xy	PAN AG ORA AS SET MA NA GEM ENT INC	251	251	0,00 05%
GA RBU IO R OBE RTA	Pro xy	PEC O E NER GY CO MP AN Y R ETI REE ME DIC AL TRU ST	1.74 5	1.74 5	0,00 32%
GA RBU IO R OBE RTA	Pro xy	PEN SIO N P LAN FO R T HE EMP LOY EES OF CO NCO RDI A U NIV ERS ITY	4.46 9	4.46 9	0,00 83%
GA RBU IO R OBE RTA	Pro xy	PEN SIO N R ESE RVE S IN VES TM ENT TR UST FU ND	13.4 70	13.4 70	0,02 50%
GA IO R OBE RTA RBU	Pro xy	PF INT ERN ATI ONA L SM ALL CA P FU ND	3.40 0	3.40 0	0,00 63%
GA RBU IO R OBE RTA	Pro xy	PHC NT SM ALL CA P	1.29 0	1.29 0	0,00 24%
GA RBU IO R OBE RTA	Pro xy	PIN E IS LAN D II I, LL C	12.1 27	12.1 27	0,02 25%
GA RBU IO R OBE RTA	Pro	POL ICE ME N'S AN NU ITY AN D B ENE FIT FU ND OF CH ICA GO	14.9 19	14.9 19	0,02 77%
RTA	xy	AM
GA RBU IO R OBE	Pro xy	PRO DU CER -WR ITE RS GU ILD OF ERI CA PEN SIO N P LAN	378	378	0,00 07%
GA RBU IO R OBE RTA	Pro xy	PUB LIC EM PLO YEE S R ETI REM ENT AS SOC IAT ION OF CO LOR AD O	28.4 15	28.4 15	0,05 28%
GA RBU IO R OBE RTA	Pro xy	PUB LIC EM PLO YEE S R ETI REM ENT AS SOC IAT ION OF NE W M EXI CO	1.07 0	1.07 0	0,00 20%
GA RBU IO R OBE RTA	Pro xy	PUB LIC EM PLO YEE S R ETI REM ENT SY STE M O F M ISS ISS IPI	8.63 9	8.63 9	0,01 61%
GA IO R OBE RTA RBU	Pro xy	PUB LIC EM PLO YEE S R ETI REM ENT SY STE M O F O HIO	105 .674	105 .674	0,19 64%
GA RBU IO R OBE RTA	Pro xy	QA NTA S SU PER AN NU ATI ON PL AN	15.7 81	15.7 81	0,02 93%
GA RBU IO R OBE RTA	Pro xy	REG IME DE RE NTE S D U M OU VEM ENT DE SJA RDI NS	26.9 22	26.9 22	0,05 00%
GA RBU IO R OBE RTA	Pro xy	REN AIS SAN CE GLO BAL SM ALL -CA P FU ND	1.98 3	1.98 3	0,00 37%
GA RBU IO R OBE RTA	Pro xy	RET AIL EM PLO YEE S SU PER AN NU ATI ON TR UST	117 .079	117 .079	0,21 76%
GA IO R OBE RTA RBU	Pro xy	ROB AN D M ELA NI W ALT ON FOU NDA TIO N	3.11 0	3.11 0	0,00 58%
GA RBU IO R OBE RTA	Pro xy	ROW F G T A CW I EX US	32.8 94	32.8 94	0,06 11%
GA RBU IO R OBE RTA	Pro xy	RUS SEL L IN VES TME NT COM PAN Y IV PLC	4.05 6	4.05 6	0,00 75%
GA RBU IO R OBE RTA	Pro	RUS SEL L IN VES TME NT COM PAN Y P LC	3.22 7	3.22 7	0,00 60%
GA RBU IO R OBE RTA	xy Pro	SAC RAM ENT O C OU NTY EM PLO YEE S R ETI REM ENT SY STE	23.7 84	23.7 84
	xy	M			0,04 42%
GA IO R OBE RTA RBU	Pro xy	SBC MA STE R P ENS ION TR UST	8.09 2	8.09 2	0,01 50%
GA RBU IO R OBE RTA	Pro xy	SBC MA STE R P ENS ION TR UST SB C M AST ER PEN SIO N T RU ST 208	22.1 93	22.1 93	0,04 12%
GA RBU IO R OBE RTA	Pro xy	SCH ROD ER INT ERN ATI ON AL SEL ECT ION FU ND	117 .376	117 .376	0,21 81%
GA RBU IO R OBE RTA	Pro xy	SCH WA B IN TER NA TIO NA L S MA LL- CAP EQ UIT Y E TF	11.6 90	11.6 90	0,02 17%
GA RBU IO R OBE RTA	Pro xy	SCS NA VIG ATO R F UN D	9.70 0	9.70 0	0,01 80%
GA RBU IO R OBE RTA	Pro xy	SEI GL OBA L M AST ER FUN D P LC	6.80 5	6.80 5	0,01 26%
GA RBU IO R OBE RTA	Pro xy	SHE ENS ION S TR UST AS STEE OF SHE LL C ONT TOR NSIO LL P LIM ITED TRU RIBU Y PE N FU ND	17.5 55	17.5 55	0,03 26%
GA RBU IO R OBE RTA	Pro xy	SHE LL TRU ST (BE RM UD A) L IMI TED AS TR UST EE	1.36 4	1.36 4	0,00 25%
GA IO R OBE RTA RBU	Pro	SHE LL T RUS T (B ERM UDA ) LT D AS TRU STEE OF THE SHE LL O VER SEA S C.P . FUN D	6.15 3	6.15 3	0,01 14%
GA RBU IO R OBE RTA	xy Pro	SOU TH CAL IF U TD FOO D & CO MM WK UN & F OO D E MP L JO INT PE NS TR F	5.04 0	5.04 0
	xy				0,00 94%
GA RBU IO R OBE RTA	Pro xy	SPD R S &P INT ERN ATI ONA L SM ALL CA P ET F	9.49 2	9.49 2	0,01 76%

GA RBU IO R OBE RTA	Pro	SPD R S &P WO RLD -US	8.35 4	8.35 4
	xy	(EX ) ET F			0,01 55%
GA RBU IO R OBE RTA	Pro xy	SS BK AN D T RU ST C OM PAN Y IN V F UN DS FOR TA XEX EM PT RET IRE ME NT PL	141 .542	141 .542	0,26 30%
GA IO R OBE RBU RTA	Pro xy	STA OF SKA S PL S TE ALA RE TIR EM ENT AN D B ENE FIT AN	194	194	0,00 04%
GA RBU IO R OBE RTA	Pro xy	STA TE OF MIN NES OTA	1.93 4	1.93 4	0,00 36%
GA RBU IO R OBE RTA	Pro xy	STA TE OF MO NTA NA BO ARD OF INV EST ME NTS	11.6 79	11.6 79	0,02 17%
GA IO R OBE RTA		STA TE OF SEY CO MM ON PE NSI ON	106	106
RBU	Pro xy	NEW JER FU ND D	.945	.945	0,19 87%
GA RBU IO R OBE RTA	Pro xy	STA TE STR EET GL OBA L A DV ISO RS LUX EM BOU RG SIC AV	29.9 26	29.9 26	0,05 56%
GA IO R OBE RTA RBU	Pro xy	STG S V GRA FIS CHE PFD .D.	16.1 45	16.1 45	0,03 00%
GA RBU IO R OBE RTA	Pro xy	STI CHT ING PE NSI OEN FON DS VO OR HU ISA RTS EN	1.90 3	1.90 3	0,00 35%
GA RBU IO R OBE RTA	Pro	STI CHT ING PH ILIP S PE NSI OEN FON DS	3.77 8	3.77 8	0,00 70%
	xy
GA RBU IO R OBE RTA	Pro xy	STI CHT ING SH ELL PE NSI OEN FON DS	31.2 84	31.2 84	0,05 81%
GA RBU IO R OBE RTA	Pro xy	SUN SUP SUP ON ER ERA NNU ATI FUN D	47.0 32	47.0 32	0,08 74%
GA IO R OBE RTA RBU	Pro xy	TEA CHE RS' SYS OF E S TAT E O OIS RET IRE ME NT TEM TH F IL LIN	125 .555	125 .555	0,23 33%
GA RBU IO R OBE RTA	Pro xy	TEA CHE RS' S R ETI REM ENT SY STE M O F O KLA HO MA	69.2 68	69.2 68	0,12 87%
GA RBU IO R OBE RTA	Pro	TEA MS TER S PE NSI ON TR UST FU ND OF PH ILA DEL PHI A A ND VIC INIT Y	2.45 6	2.45 6	0,00 46%
	xy	TEN NES SEE CO NSO LIDA TED RE TIR EME NT SYS
GA RBU IO R OBE RTA	Pro xy	TEM	9.48 7	9.48 7	0,01 76%
GA RBU IO R OBE RTA	Pro xy	TEX AS MU NIC IPA L R ETI REM ENT SY STE M	61.7 92	61.7 92	0,11 48%
GA RBU IO R OBE RTA	Pro xy	TEX AS SCO TTIS H R ITE HOS PITA L FO R C RIP PLE D C HIL DRE N	1.07 8	1.07 8	0,00 20%
GA RBU IO R OBE RTA	Pro xy	BA RCL AY S B AN THE K U K R ETI REM ENT FU ND	38.5 24	38.5 24	0,07 16%
GA RBU IO R OBE RTA	Pro	THE BO EIN G C OM PAN Y E MP LOY EE RET IRE ME NT P	46.3 47	46.3 47	0,08 61%
	xy
GA IO R OBE RTA RBU	Pro xy	CL LAN D C IC F OU ATI ON THE EVE LIN ND	2.00 8	2.00 8	0,00 37%
GA RBU IO R OBE RTA	Pro xy	THE ED UCA TIO NAL EM PLO YEE S S UPP LEM ENT ARY RE TIR EME NT SYS TEM OF FA IRFA X C OUN TY	5.58 6	5.58 6	0,01 04%
GA RBU IO R OBE RTA	Pro xy	THE GB C IN TL GRO WT H F UN D	28.4 61	28.4 61	0,05 29%
GA RBU IO R OBE RTA	Pro xy	THE ME THO DIS T H OSP ITA L	11.9 01	11.9 01	0,02 21%
GA RBU IO R OBE RTA	Pro	THE NO VA SC OTI A H EAL TH EM PLO YEE S PE NS	797	797
	xy	PL			0,00 15%
GA IO R OBE RTA RBU	Pro xy	THE RE GEN TS OF THE UN IVE RSI TY OF CAL IFO RNI A	242	242	0,00 04%
GA RBU IO R OBE RTA	Pro xy	THE RO CKE FEL LER FO UN DA TIO N	10.3 85	10.3 85	0,01 93%
GA RBU IO R OBE RTA	Pro xy	THE ST ATE OF CO NN ECT ICU T A CTI NG THR OU GH ITS TR EAS URE R	113 .934	113 .934	0,21 17%
GA RBU IO R OBE RTA	Pro	THE TIF F K EYS TON E F UN D, L .P.	4.06 3	4.06 3	0,00 76%
GA IO R OBE RTA	xy	UST EES OF CA SIO THE TR TER PILL AR PEN N P	2.00 0	2.00 0
RBU	Pro xy	LAN			0,00 37%
GA IO R OBE RTA RBU	Pro xy	VES OG RAM C - I-A SSE TIF F IN TM ENT PR , IN TIF F M ULT T F UN D	21.7 14	21.7 14	0,04 04%
GA RBU IO R OBE RTA	Pro xy	TOU CHS TON E ST RAT EGI C T RUS T-IN T	80.6 46	80.6 46	0,14 99%
GA RBU IO R OBE RTA	Pro xy	TW O S IGM A A BSO LUT E R ETU RN POR TFO LIO LL C C ORP ORA TIO N S ERV ICE CO MP AN Y	57	57	0,00 01%
GA IO R OBE RBU RTA	Pro	O S IGM A S PEC ORT FOL IO L LC. TW TRU M P	178	178	0,00 03%
	xy
GA RBU IO R OBE RTA	Pro xy	TXM F LS V	17.7 00	17.7 00	0,03 29%
GA RBU IO R OBE RTA	Pro xy	UA W R ETI REE ME DIC AL BEN EFI TS TRU ST	2.62 7	2.62 7	0,00 49%
GA RBU IO R OBE RTA	Pro xy	UB S (U S) G ROU P T RU ST	717	717	0,00 13%
GA RBU IO R OBE RTA	Pro xy	UB S ET F	1.03 3	1.03 3	0,00 19%
GA IO R OBE RTA RBU	Pro	S FU MG T (C H) A G C H05 16/U BSC 2-E GSC UB ND HIF PII	4.44 7	4.44 7	0,00 83%
	xy
GA RBU IO R OBE RTA	Pro xy	UN ISU PER	1.56 8	1.56 8	0,00 29%
GA RBU IO R OBE RTA	Pro xy	UNI VER SAL INV EST BA YVK A1 FON DS	4.94 5	4.94 5	0,00 92%
GA RBU IO R OBE RTA	Pro xy	UNI VER SITY OF GU ELP H F ORE IGN PR OPE RTY TR UST	4.09 6	4.09 6	0,00 76%
GA RBU IO R OBE RTA	Pro xy	UPS GR OU P T RU ST	24.6 96	24.6 96	0,04 59%
GA IO R OBE RTA RBU	Pro	UTA H S TAT E R ETIR EME NT SYS TEM S	1.86 7	1.86 7
	xy				0,00 35%
GA RBU IO R OBE RTA	Pro xy	UTC AC ADI AN ASS ET M GM T	3.15 5	3.15 5	0,00 59%
GA RBU IO R OBE RTA	Pro xy	VAN GUA RD DEV EL A LL-C AP EX NOR TH AM ERI CA EQT IND PO OLE D F UND	38	38	0,00 01%
GA RBU IO R OBE RTA	Pro xy	VA NG UA RD DEV ELO PED MA RKE TS IND EX FUN D	90.5 48	90.5 48	0,16 83%
GA RBU IO R OBE RTA	Pro xy	VA NG UA RD EUR OPE AN ST OCK IND EX FUN D	38.2 95	38.2 95	0,07 12%
GA RBU IO R OBE RTA	Pro	VA NG UA RD FTS E A LL WO RLD SM ALL CA P IN D F	33.9 33	33.9 33
	xy	U			0,06 31%
GA RBU IO R OBE RTA	Pro xy	VA NG UA RD FTS E D EVE LOP ED ALL CA P E X N ORT H A ME RIC A IN DEX ET F	85	85	0,00 02%
GA RBU IO R OBE RTA	Pro xy	VA NG UA RD FTS E D EVE LOP ED EUR OPE AL L C AP IND EX ETF	178	178	0,00 03%
GA IO R OBE RTA RBU	Pro xy	VA NG UA ATI ON AL SM ALL CO AN IES RD INT ERN MP I	1.12 5	1.12 5	0,00 21%
GA RBU IO R OBE RTA	Pro xy	VAN GUA RD INV FU NDS ICV C-V ANG UAR D FT SE GLO B A LL C AP IND FU ND	107	107	0,00 02%
GA RBU IO R OBE RTA	Pro	VA NG UA RD INV EST ME NT SER IES , PL C	4.14 5	4.14 5	0,00 77%
	xy
GA RBU IO R OBE RTA	Pro xy	VA NG UA RD TOT AL INT ERN ATI ON AL STO CK IND EX	251 .516	251 .516	0,46 74%
GA RBU IO R OBE RTA	Pro xy	VA NG UA RD TOT AL WO RLD ST OCK IND EX FUN D	6.21 3	6.21 3	0,01 15%
GA IO R OBE RTA RBU	Pro xy	MO SIO VES CO VER NT PEN N IN TM ENT MM ITT EE	21.2 96	21.2 96	0,03 96%
GA RBU IO R OBE RTA	Pro xy	VFM SM ALL CO MPA NIE S T RUS T	29.7 82	29.7 82	0,05 53%
GA RBU IO R OBE RTA	Pro	VFM C IN TER NAT ION AL EQU ITY TRU ST 1	8.80 5	8.80 5	0,01 64%
	xy	VFM C IN TER NAT ION AL ITY TRU
GA RBU IO R OBE RTA	Pro xy	EQU ST 2	17.6 03	17.6 03	0,03 27%
GA RBU IO R OBE RTA	Pro xy	VIR GIN IA R ETI REM ENT SY STE M .	131 .453	131 .453	0,24 43%
GA IO R OBE RTA RBU	Pro xy	VOY A M M IN TL S M C AP FND AC ADI AN	3.65 4	3.65 4	0,00 68%
GA RBU IO R OBE RTA	Pro xy	WA SAT CH GLO BAL OP POR TUN ITIE S FU ND	21.4 74	21.4 74	0,03 99%
GA RBU IO R OBE RTA	Pro	WA SAT CH INT ERN ATI ON AL GRO WT H F UN D	345 .468	345 .468	0,64 20%
	xy	WA SAT CH INT L SM ALL CA P G ROW
GA RBU IO R OBE RTA	Pro xy	TH	95 12.3	95 12.3	0,02 30%
GA RBU IO R OBE RTA	Pro xy	WA SHI NG TON ST ATE INV EST ME NT BOA RD	1.43 2	1.43 2	0,00 27%
GA RBU IO R OBE RTA	Pro xy	WE ST V IRG INIA INV EST ME NT MA NA GEM ENT BO ARD	39.2 66	39.2 66	0,07 30%
GA RBU IO R OBE RTA	Pro xy	WIL LIA M B LAI R C OLL ECT IVE INV EST ME NT TRU ST	117 .816	117 .816	0,21 89%
GA RBU IO R OBE RTA	Pro xy	WIL LIA M B LAI R IN TER NA TIO NA L S MA LL CAP GR OW TH FUN D	118 .914	118 .914	0,22 10%
GA IO R OBE RTA		WIS DO NA MIC CU NCY DG SM ALL MT REE DY RRE HE ED
RBU	Pro xy	CAP INT RNL	77	77	0,00 01%
GA RBU IO R OBE RTA	Pro xy	WIS DO MT REE EU ROP E H EDG ED SM ALL CAP EQ UIT Y F UN D	15.5 11	15.5 11	0,02 88%
GA RBU IO R OBE RTA	Pro xy	WIS DO MT REE EU ROP E L OCA L R ECO VER Y F UN D	299	299	0,00 06%
GA RBU IO R OBE RTA	Pro xy	WIS DO MT REE EU ROP E S MA LLC AP DIV IDE ND FU ND	138 .741	138 .741	0,25 78%

GA RBU IO R OBE RTA	Pro xy	WIS DO MT REE INT ERN ATI ON AL SM ALL CAP DIV IDE ND FU ND		74.4 82	74.4 82	0,13 84%
GA IO R OBE RTA RBU	Pro xy	WIS DO ISS C L CO AN MT REE UER PU BLI IMI TED MP Y		8.23 6	8.23 6	0,01 53%
GA RBU IO R OBE RTA	Pro xy	WM PO OL - EQ UIT IES TR UST NO 72		21.4 57	21.4 57	0,03 99%
GA RBU IO R OBE RTA	Pro xy	WY OM ING RE TIR EME NT SYS TEM		58.2 97	58.2 97	0,10 83%
		TO TAL SH AR ES REP RES EN TED AT TH E S HA REH OL DER S' M EET ING	4.29 6.93 6	38.2 67.4 54	42.5 64.3 90	79,0 997 %
		NU MB ER OF SHA REH OL DER S P RES EN T IN PE RSO N O R B Y P RO XY			285

APPENDIX C

VOTING LIST FOR ITEM 1) OF THE AGENDA:

Approval of the Annual Financial Statement as at 31st December 2016; notification of the Group's Consolidated Annual Financial Statement as at 31st December 2016; allocation of profits for the year; inherent and consequent resolutions;

Share capital € 53.811.095,00

SH AR EH OL DE R	NO T V OT ING	%	FO R	%	AG AIN ST	%	AB STE NT ION S	%
LA SCO GL IER A S .P.A		0,00 00%	26. 966 .847	50, 113 9%		0,0 000 %		0,0 000 %
ALB IZZ AT I TI ZIA NO VI NC EN ZO		0,00 00%	2.5 00	0,0 046 %		0,0 000 %		0,0 000 %
AL CH A S PA IMI		0,00 00%	1.0 76.2 47	2,0 000 %		0,0 000 %		0,0 000 %
BO AL O' P IET RO AM ERI GO		0,00 00%	1.0 00	0,0 019 %		0,0 000 %		0,0 000 %
BO SSI GI OV AN NI		0,00 00%	1.8 38.6 46	3,4 169 %		0,0 000 %		0,0 000 %
CA SEL LI L AU RA		0,00 00%	1.0 00	0,0 019 %		0,0 000 %		0,0 000 %
CH IES A D AN IEL A		0,00 00%	2.5 00	0,0 046 %		0,0 000 %		0,0 000 %
CO TRO ZZA PIE		0,00 00%	500	0,0 009 %		0,0 000 %		0,0 000 %
MA DE RN A F RA NC ESC A		0,00 00%	1.0 70.4 22	1,9 892 %		0,0 000 %		0,0 000 %
MIO AN CO TTI FR		0,00 00%	1.0 00	0,0 019 %		0,0 000 %		0,0 000 %
DO LFO IZIO PAN FA BR		0,00 00%	3.2 00	0,0 059 %		0,0 000 %		0,0 000 %
POR TA LU PPI AN NA MA RIA CR IST INA		0,00 00%	1.2 50	0,0 023 %		0,0 000 %		0,0 000 %
PRE VE CO STR UZ ION I SP A		0,00 00%	1.1 50.0 00	2,1 371 %		0,0 000 %		0,0 000 %
PRE VE RIC CA RD O		0,00 00%	92. 168	0,1 713 %		0,0 000 %		0,0 000 %
ZA I RA FFA RIZ RD ELE		0,00 00%	1.0 00	0,0 019 %		0,0 000 %		0,0 000 %
STA CC ION E A LBE RTO		0,00 00%	140 .000	0,2 602 %		0,0 000 %		0,0 000 %
119 9 SE IU H EA LTH CA RE EM PLO YE ES PEN SIO N F UN D		0,00 00%	59. 591	0,1 107 %		0,0 000 %		0,0 000 %
3M CAN ADA CO MP ANY MA STE R T RUS T		0,00 00%	6.5 20	0,0 121 %		0,0 000 %		0,0 000 %
CAD GL OBA 3M ERI P A IAN L		0,00 00%	22. 976	0,0 427 %		0,0 000 %		0,0 000 %
700 30 PD GLO BAL E A KTI ER VII		0,00 00%	31. 941	0,0 594 %		0,0 000 %		0,0 000 %
AC AD IAN IN TER NA TIO NA L S MA LL CA PFU ND		0,00 00%	13. 728	0,0 255 %		0,0 000 %		0,0 000 %
AC AD IAN NO N-U S S MA LL- CA P L ON G-S HO RT EQ UIT Y F UN D L LC		0,00 00%	681	0,0 013 %		0,0 000 %		0,0 000 %
AC CID T C OM SAT ION CO RPO RA TIO EN PEN N		0,00 00%	14. 497	0,0 269 %		0,0 000 %		0,0 000 %
AC TIV E IN TER NA TIO NA L S MA LL CA P L EN DIN G C OM MO N T RU ST FUN D		0,00 00%	20. 497	0,0 381 %		0,0 000 %		0,0 000 %
AG I PV WS RC M IN D 8 490 07 521 0 S PK		0,00 00%	8.2 85	0,0 154 %		0,0 000 %		0,0 000 %
ALA SKA PE RM AN EN T F UN D C OR POR AT ION		0,00 00%	2.9 81	0,0 055 %		0,0 000 %		0,0 000 %
AL KE N F UN D		0,00 00%	601 .900	1,1 185 %		0,0 000 %		0,0 000 %
AL KE N F UN D		0,00 00%	274 .849	0,5 108 %		0,0 000 %		0,0 000 %
ALL IAN ZG I FO ND S G AN O 2		0,00 00%	2.3 23	0,0 043 %		0,0 000 %		0,0 000 %
ALL IAN ZG I-FO ND S D SPT		0,00 00%	2.4 00	0,0 045 %		0,0 000 %		0,0 000 %
ALL IAN ZG I-FO ND S D SPT		0,00 00%	2.9 00	0,0 054 %		0,0 000 %		0,0 000 %
ALT RIA CL T S ICE S M AST IEN ERV ER RET IRE M.T		0,00 00%	19. 502	0,0 362 %		0,0 000 %		0,0 000 %
AM G T RIL OG Y IN TER NA TIO NA L S MA LLC AP FUN D		0,00 00%	17. 503	0,0 325 %		0,0 000 %		0,0 000 %
AN Z W HO LES ALE IN TER NA TIO NA L S HA RE NO . 3		0,00 00%	2.6 00	0,0 048 %		0,0 000 %		0,0 000 %
AQ R IN TER NAT ION AL SM ALL CA P E QU ITY FU ND , L.P		0,00 00%	17. 485	0,0 325 %		0,0 000 %		0,0 000 %
IZO STA SYS AR NA TE RET IRE ME NT TEM		0,00 00%	7.8 02	0,0 145 %		0,0 000 %		0,0 000 %
AR KAN SAS ST ATE HIG HW AY EM PLO YEE S R ETI REM ENT SY STE M		0,00 00%	9.5 00	0,0 177 %		0,0 000 %		0,0 000 %
AR RO WS TRE ET CA PIT AL GL OB AL EQ UIT Y - ALP HA EX TEN SIO N F UN D L IMI TED		0,0 000 %	17. 499	0,0 325 %		0,0 000 %		0,0 000 %
AXA RO SEN BER G E QU ITY AL PHA TR UST		0,00 00%	2.4 00	0,0 045 %		0,0 000 %		0,0 000 %
AXA WO RLD FU NDS		0,00 00%	51. 077	0,0 949 %		0,0 000 %		0,0 000 %
BB H T RU STE SE RV . (IE ) LI MIT ED		0,00 00%	12. 342	0,0 229 %		0,0 000 %		0,0 000 %
BG SCI SM CA QU I M EA FE ALL P E ITY IN DE X F UN D B		0,00 00%	6.99 2	0,0 130 %		0,0 000 %		0,0 000 %
BLA CK RO CK AM SC H A G O BO BIF S W OR LD EX SW SM ALL CA P E Q IN DE X F		0,00 00%	2.5 18	0,0 047 %		0,0 000 %		0,0 000 %
BLA CK RO CK D A CO EQ IN DE XE LL- UN TRY UIT Y F UN		0,00 00%	107	0,0 002 %		0,0 000 %		0,0 000 %
BLA CK RO CK IN ST TRU ST CO NA IN V F UN DSF OR EM PLO YE E B EN EFI T T R		0,00 00%	9.3 39	0,0 174 %		0,0 000 %		0,0 000 %
BLA CK RO CK IN ST TRU ST CO NA IN V F UN DSF OR EM PLO YE E B EN EFI T T R		0,00 00%	77. 155	0,1 434 %		0,0 000 %		0,0 000 %
BLA CK RO CK IN ST TRU ST CO NA IN V F UN DSF OR EM PLO YE E B EN EFI T T R		0,00 00%	21. 069	0,0 392 %		0,0 000 %		0,0 000 %
BLA CK RO CK MS CI W OR LD SM ALL CA P E Q E SG SCR EEN ED IN DE X F UN D B		0,00 00%	320	0,0 006 %		0,0 000 %		0,0 000 %
E S GR OU BLU KY P		0,00 00%	4.3 19	0,0 080 %		0,0 000 %		0,0 000 %
BM O N ESB ITT BUR NS SEG AC CT		0,00 00%	7.0 00	0,0 130 %		0,0 000 %		0,0 000 %
BN Y M ELL ON EM PLO YE E B EN EFI T C OLL ECT IVE IN VE STM EN T F UN D P LAN		0,00 00%	750	0,0 014 %		0,0 000 %		0,0 000 %
BN YM TD CF MI TO N E UR OPE AN OP PS FUN D		0,00 00%	92. 417	0,1 717 %		0,0 000 %		0,0 000 %
BOA OF SIO NS OF ANG CAL CH URC CA RD PEN THE EV ELI LU THE RAN H IN AM ERI		0,00 00%	7.2 05	0,0 134 %		0,0 000 %		0,0 000 %
BO AK BLA CK SM NA TIO NA SIO ILE RM ER ITH L P EN N		0,00 00%	5.3 44	0,0 099 %		0,0 000 %		0,0 000 %
BO STO N P AT RIO T C ON GR ESS ST LL C C /O P AN AG OR A A SSE T M AN AG EM EN T, I NC		0,00 00%	100	0,0 002 %		0,0 000 %		0,0 000 %
BR ICK LA YE RS + T RO WE L T RA DE S IN TER NA TIO NA L P EN SIO N F UN D		0,00 00%	300	0,0 006 %		0,0 000 %		0,0 000 %
CA LIF OR NIA PU BLI C E MP LO YE ES RET IRE ME NT SY STE M		0,00 00%	45. 629	0,0 848 %		0,0 000 %		0,0 000 %

CA LIF OR NIA PU BLI C E MP LO YE ES RET IRE ME NT SY STE M	0,00 00%	2.9 34	0,0 055 %	0,0 000 %		0,0 000 %
CA LIF OR NIA ST AT E T EA CH ER S R ETI REM EN T S YST EM	0,00 00%	4.6 85	0,0 087 %	0,0 000 %		0,0 000 %
CA OR NIA ST AT EA CH S R T S YST LIF E T ER ETI REM EN EM	0,00 00%	23. 993	0,04 46%	0,0 000 %		0,0 000 %
CA RPI MK O P M C API H	0,00 00%	19. 000	0,0 353 %	0,0 000 %		0,0 000 %
CA SEY FA MIL Y P RO GR AM S	0,00 00%	11. 070	0,0 206 %	0,0 000 %		0,0 000 %
CB OSC AT F C BG S-W GSS 02 N EW CE8 ISC F W ILLI AM BL AIR E	0,00 00% 0,00 00%	21. 099 39. 262	0,0 392 % 0,0 730 %	0,0 000 % 0,0 000 %		0,0 000 % 0,0 000 %
CF DV ACW I EX -U.S . IM I FU ND	0,00 00%	129	0,0 002 %	0,0 000 %		0,0 000 %
CG CA YM AN FU ND LIM ITE D	0,00 00%		0,0 000 %	0,0 000 %	4.7 71	0,0 089 %
CH 052 S (C H) INS ION AL QU S G LO BA L S MA CA AS SIV 6 - UB TIT UT FU ND - E ITIE LL P P E II	0,0 000 %	1.14 0	0,0 021 %	0,0 000 %		0,0 000 %
CH EVR ON MA STE R P ENS ION TR UST	0,00 00%	9.8 12	0,0 182 %	0,0 000 %		0,0 000 %
CH ON STE ENS ION UST EVR MA R P TR	0,00 00%	2.34 6	0,0 044 %	0,0 000 %		0,0 000 %
CIT Y O F L OS AN GE LES FIR E A ND PO LIC E P EN SIO N P LA N	0,00 00%	3.3 66	0,0 063 %	0,0 000 %		0,0 000 %
CIT Y O YO CO ENS ON F N EW RK DEF ERR ED MP ATI PL AN	0,00 00%	39. 705	0,0 738 %	0,0 000 %		0,0 000 %
CIT Y O YO GR OU ST F N EW RK P T RU	0,00 00%	1.6 75	0,0 031 %	0,0 000 %		0,0 000 %
CIT Y O F N EW YO RK GR OU P T RU ST	0,00 00%	4.3 39	0,0 081 %	0,0 000 %		0,0 000 %
CIT Y O F N EW YO RK GR OU P T RU ST	0,00 00%	3.4 19	0,0 064 %	0,0 000 %		0,0 000 %
CIT Y O F N EW YO RK GR OU P T RU ST CIT Y O F N EW YO RK GR OU P T RU ST	0,00 00% 0,00 00%		0,0 000 % 0,0 000 %	0,0 000 % 0,0 000 %	71. 197 13.4 55	0,1 323 % 0,0 250 %
CIT Y O YO GR OU ST F N EW RK P T RU	0,00 00%		0,0 000 %	0,0 000 %	40. 255	0,0 748 %
CLI NT ON EQ UIT Y S TRA TEG IES MA STE R F UN D L TD	0,00 00%		0,0 000 %	0,0 000 %	23. 732	0,04 41%
CLI NT ON LIG HT HO USE EQ UIT Y S TRA TEG IES FU ND (O FFS HO RE) LP CO CL INT ON GR OU P, I NC	0,00 00%		0,0 000 %	0,0 000 %	739	0,0 014 %
CLI ON LIG HO USE EQ Y S TRA TEG IES MA STE . C/ O C TO N G RO C NT HT UIT R F UN D L TD LIN UP , IN	0,00 00%		0,0 000 %	0,0 000 %	2.9 06	0,0 054 %
CO LLE GE RE TIR EM EN T E QU ITIE S F UN D	0,00 00%	103 .952	0,1 932 %	0,0 000 %		0,0 000 %
CO GE S O TS ECH NO LO GY NSI ON LLE F A PPL IED AR AN D T PE P	0,00 00%	18. 038	0,0 335 %	0,0 000 %		0,0 000 %
CO LO NIA L F IRS T S TA TE INV EST ME NT S L IMI TED	0,00 00%	3.5 29	0,0 066 %	0,0 000 %		0,0 000 %
CO LTR AN E M AST ER FUN D L .P.	0,00 00%	1.3 16	0,0 024 %	0,0 000 %		0,0 000 %
CO NN ECT ICU T G EN ERA L L IFE IN SUR AN CE CO MP AN Y	0,00 00%	122	0,0 002 %	0,0 000 %		0,0 000 %
CO OC ION SM CA PPE R R K IN TER NAT AL ALL P F UN D	0,00 00%	316 .372	0,5 879 %	0,0 000 %		0,0 000 %
CO UNS EL GLO BAL SM ALL CA P CO ISE S IN C M AST ST X E NTE RPR ER TRU	0,00 00%	32. 184	0,0 598 %	0,0 000 %		0,0 000 %
CPA CO P P SER S A CAD IAN AS SET MG MT	0,00 00% 0,00 00%	3.5 26 11.4 88	0,0 066 % 0,0 213 %	0,0 000 % 0,0 000 %		0,0 000 % 0,0 000 %
CPA CO P P SER S B ATT ERY MA RC H F IN M GT	0,00 00%	7.64 5	0,0 142 %	0,0 000 %		0,0 000 %
CPA CO P P SER S W ASA TCH AD VIS OR S	0,00 00%	57. 255	0,1 064 %	0,0 000 %		0,0 000 %
CTJ RE ST AN LIB GLO BAL EQ HO SKI NG	0,00 00%	27. 866	0,0 518 %	0,0 000 %		0,0 000 %
DE LTA MA STE R T RU ST	0,00 00%	60. 525	0,1 125 %	0,0 000 %		0,0 000 %
DE LTA PIL OT S D ISA BIL ITY AN D S UR VIV OR SHI P	0,00 00%	6.24 6	0,0 116 %	0,0 000 %		0,0 000 %
DE UT SCH E X -TR AC KE RS MS CI E MU HE DG ED EQ UIT Y E TF	0,00 00%	246	0,0 005 %	0,0 000 %		0,0 000 %
DIG NIT Y H EA LTH	0,00 00%	1.5 07	0,0 028 %	0,0 000 %		0,0 000 %
DIG NIT Y H EA LTH RE TIR EM EN T P LA N T RU ST	0,00 00%	1.3 89	0,0 026 %	0,0 000 %		0,0 000 %
DO MIN ION RE SOU RC ES INC . M AST ER TRU ST	0,00 00%	24. 068	0,04 47%	0,0 000 %		0,0 000 %
DO NN ELL EY FIN ANC IAL PEN SIO N T RUS T	0,00 00%	1.0 82	0,0 020 %	0,0 000 %		0,0 000 %
DU KE EN ERG Y R ETI REM EN T S AV ING S P LA N DU PO NT AN D R ELA TED CO MP DEF INE D C ON TRI BUT ION PL AN MA STE R T R	0,00 00% 00%	1.5 71 4.2 00	0,0 029 % 078 %	0,0 000 % 000 %		0,0 000 % 000
EM PLO YE ES RET IRE ME NT FU ND OF TH E C ITY OF DA LLA S	0,00 0,00 00%	13. 245	0,0 0,0 246 %	0,0 0,0 000 %		0,0 % 0,0 000 %
ENS IGN CP LSV L S PE AK INT MA LL	0,00 00%	21. 700	0,04 03%	0,0 000 %		0,0 000 %
ENS IGN PE AK INT L S C L SV ASS ET	0,00 00%	87.5 10	0,16 26%	0,0 000 %		0,0 000 %
ERG OS OFF SHO RE I LT D C O H AR NE YS CO RPO RA TE SER VIC ES	0,00 00%		0,0 000 %	0,0 000 %	50	0,0 001 %
ELO N C OR POR AT ION F C ON TIO PLA NS MA STE EX DE TRI BU N R ET R T R	0,00 00%	15. 379	0,0 286 %	0,0 000 %		0,0 000 %
EX ELO N C OR POR AT ION PE NSI ON MA STE R R ETI REM EN T T RU ST	0,00 00%	26. 093	0,04 85%	0,0 000 %		0,0 000 %
FCP AS TO RG CR OIS SAN CE MID CA P	0,00 00%	8.5 62	0,0 159 %	0,0 000 %		0,0 000 %
FCP GR OU PAM A A VE NIR EU RO	0,00 00%	715 .049	1,3 288 %	0,0 000 %		0,0 000 %
FCP HS BC TE CH NO LO GIE	0,00 00%	46. 008	0,0 855 %	0,0 000 %		0,0 000 %
FID ELI TY SA L S T T SP AR TA N T OT AL IN T IN F	0,00 00%	160	0,0 003 %	0,0 000 %		0,0 000 %
FIR E A ND PO LIC E P EN SIO N F UN D S AN AN TO NIO	0,00 00%	2.14 5	0,0 040 %	0,0 000 %		0,0 000 %
FLE XSH AR ES MO RN ING STA R D EV ELO PED MA RK ETS EX -US FA CTO R T ILT IN DE X F UN D FLO RID A R ETI REM EN T S YST EM	0,0 000 %	1.6 17 285	0,0 030 % 005	0,0 000 % 000		0,0 000 % 000
FLO RID A R ETI REM EN T S YST EM	0,00 00% 0,00 00%	104 .832	0,0 % 0,1 948 %	0,0 % 0,0 000 %		0,0 % 0,0 000 %
FLO T S YST RID A R ETI REM EN EM	0,00 00%	27. 232	0,0 506 %	0,0 000 %		0,0 000 %
FLO RID A R ETI REM EN T S YST EM	0,00 00%	36. 990	0,0 687 %	0,0 000 %		0,0 000 %
GLO BEF LEX INT ERN ATI ON AL PAR TNE RS LTD	0,00 00%	4.3 00	0,0 080 %	0,0 000 %		0,0 000 %
GO VER NM ENT INS TIT UTI ON S P ENS ION FU ND	0,00 00%	1.5 10	0,0 028 %	0,0 000 %		0,0 000 %
GO VE RN ME NT OF NO RW AY	0,00 00%	676 .485	1,2 571 %	0,0 000 %		0,0 000 %
GO VE RN ME NT OF NO RW AY	0,00 00%	723 .155	1,34 39%	0,0 000 %		0,0 000 %
GO VE RN ME NT OF NO RW AY	0,00 00%	135 .978	0,2 527 %	0,0 000 %		0,0 000 %
GO VER NM ENT OF TH E P RO VIN CE OF ALB ERT A	0,00 00%	12. 900	0,0 240 %	0,0 000 %		0,0 000 %
GO VER NM ENT SU PER AN NUA TIO N F UN D	0,00 00%	12. 994	0,0 241 %	0,0 000 %		0,0 000 %
GW +K INT ERN ATI ON AL SM ALL CA P F UN D, L .P.	0,00 00%	17. 645	0,0 328 %	0,0 000 %		0,0 000 %
HIG AR GH MA LO NG SH OR QU 2 C O P AN AG OR A A SSE AN AG C HM K L IMI TED HI RK T E ITY T M EM EN T IN	0,00 00%		0,0 000 %	0,0 000 %	50	0,0 001 %

HO SKI NG GL OB AL FU ND PL C	0,00 00%	248 .158	0,4 612 %	0,0 000 %	0,0 000 %
HO SKI NG PA RTN ER S C OL LEC TIV E IN VE STM EN T T RU ST	0,00 00%	22.4 14	0,04 17%	0,0 000 %	0,0 000 %
HO STP S P OO SU AN AT ION UST LU LED PER NU TR	0,00 00%	32. 259	0,0 599 %	0,0 000 %	0,0 000 %
STA ST NO HRW TE ME NTA RY TRU . 10	0,00 00%	9.2 29	0,0 172 %	0,0 000 %	0,0 000 %
HSB C G LO BA L IN VE STM EN T F UN DS	0,00 00%	154 .495	0,2 871 %	0,0 000 %	0,0 000 %
IBM 40 1K PLU S P LA N	0,00 00%	15. 840	0,0 294 %	0,0 000 %	0,0 000 %
INO IS M ICI PAL ILL UN RE TIR EM EN T F UN D	0,00 00%	53. 176	0,0 988 %	0,0 000 %	0,0 000 %
ILL INO IS S TA TE BO AR D O F IN VE STM EN T IC R SY STE IND IAN A P UBL ETI REM ENT M	0,00 00%	4.2 07 760	0,0 078 % 014	0,0 000 % 000	0,0 000 % 000
INT EL CO RP RET IRE ME NT PL AN S M AST ER FUN D	0,00 00% 0,00 00%	13. 300	0,0 % 0,0 247 %	0,0 % 0,0 000 %	0,0 % 0,0 000 %
INT ERN AT ION AL LP I	0,00 00%	538	0,0 010 %	0,0 000 %	0,0 000 %
AT ION AL MO TA INT ERN NE RY FU ND	0,00 00%	472	0,00 09%	0,0 000 %	0,0 000 %
INT ERN AT ION AL PA PER CO CO MM ING LED IN VE STM EN T G RO UP TRU ST	0,00 00%	30. 182	0,0 561 %	0,0 000 %	0,0 000 %
INT ERN AT ION AL PA PER CO CO MM ING LED IN VE STM EN T G RO UP TRU ST	0,00 00%	35. 915	0,0 667 %	0,0 000 %	0,0 000 %
ISH AR ES CO RE MS CI E AFE ET F	0,00 00%	34. 190	0,0 635 %	0,0 000 %	0,0 000 %
ISH ES CO MS CI E AR RE AFE IM I IN DEX ET F	0,00 00%	1.3 58	0,0 025 %	0,0 000 %	0,0 000 %
ISH AR ES MS CI E AFE SM ALL CA P E TF	0,00 00%	855 79.	0,14 84%	0,0 000 %	0,0 000 %
ISH AR ES MS CI E URO PE SM ALL -CA P E TF	0,00 00%	1.7 10	0,0 032 %	0,0 000 %	0,0 000 %
ISH AR ES VII PLC	0,00 00%	20. 029	0,0 372 %	0,0 000 %	0,0 000 %
ISLA ND CAP ITA L IN VES TM ENT S II , LL C	0,00 00%	2.5 09	0,0 047 %	0,0 000 %	0,0 000 %
JOH CM ON SM CA QU INT ERN ATI AL ALL P E ITY FU ND	0,00 00%	73. 683	0,1 369 %	0,0 000 %	0,0 000 %
KAI SER PE RM AN ENT E G RO UP TRU ST KP INT ERN ATI ON AL EQ UIT Y F UN D	0,00 00% 00%	12. 258 1.3 58	0,0 228 % 025 %	0,0 000 % 000 %	0,0 000 % 000
LA BO S' A OA AN & B OF CH ICA GO RER ND RE T B RD EM PL NU ITY EN EFI T F	0,00 0,00 00%	9.3 75	0,0 0,0 174 %	0,0 0,0 000 %	0,0 % 0,0 000 %
LA TTI CE GL OB AL SM AL L C AP STR AT EG Y E TF	0,00 00%	98	0,0 002 %	0,0 000 %	0,0 000 %
LEG AL AN D G EN ERA L A SSU RA NC E P EN SIO NS MA NA GE ME NT LIM ITE D	0,00 00%	3.5 01	0,0 065 %	0,0 000 %	0,0 000 %
LEG AL AN D G EN ERA L C OL LEC TIV E IN VE STM EN T T RU ST	0,00 00%	490	0,0 009 %	0,0 000 %	0,0 000 %
LO CK HE ED MA RTI N C OR POR AT ION MA STE R R ETI REM EN T T RU ST	0,00 00%	5.1 15	0,0 095 %	0,0 000 %	0,0 000 %
LSC PE NSI ON TR UST	0,00 00%	5.04 0	0,0 094 %	0,0 000 %	0,0 000 %
LSC PE NSI ON TR UST	0,00 00%	5.2 00	0,0 097 %	0,0 000 %	0,0 000 %
M+ G IN VE STM EN T F UN DS (7)- M+ G P AN EU RO PEA N D IVI DE ND FU ND	0,00 00%	112 .500	0,2 091 %	0,0 000 %	0,0 000 %
MA INS TA Y 1 30/3 0 IN TER NA TIO NA L F UN D	0,00 00%	17.4 41	0,0 324 %	0,0 000 %	0,0 000 %
INS SO STR GY MA TAY AB LUT E R ETU RN MU LTI- ATE FUN D	0,00 00%	1.8 81	0,0 035 %	0,0 000 %	0,0 000 %
MA INS TAY VP FU NDS TR UST MA INS TAY VP MA RKE TFI ELD PO RTF OLI O MA N N UM ERI C E UR OPE AN AL PHA RE STR ICT ED MA PLE SCO RP SER VIC ES LTD	0,00 00% 00%	8.1 13 5.4 50	0,0 151 % 101 %	0,0 000 % 000 %	0,0 000 % 000
MA RR IOT T IN T, I NC . PO OLE D IN V T R F OR PA RTI CIP ANT DIR ECT ED ACC	0,00 0,00 00%	8.4 91	0,0 0,0 158 %	0,0 0,0 000 %	0,0 % 0,0 000 %
MA RY LA ND ST AT E R ETI REM EN T & PE NSI ON SY STE M	0,00 00%	1.5 78	0,0 029 %	0,0 000 %	0,0 000 %
MD PIM IN TER NA TIO NA L E QU ITY PO OL	0,00 00%	4.0 00	0,0 074 %	0,0 000 %	0,0 000 %
ME RC ER DIO CES E O F B RO OK LYN GR OW TH STR ATE GY	0,00 00%	1.0 18	0,0 019 %	0,0 000 %	0,0 000 %
ME RC ER DIO CES E O F B RO OK LYN LA Y P ENS ION INV EST ME NT TRU ST	0,00 00%	540	0,0 010 %	0,0 000 %	0,0 000 %
ME RC ER INT ERN ATI ON AL EQ UIT Y F UN D	0,00 00%	3.3 15	0,0 062 %	0,0 000 %	0,0 000 %
ME TZL ER INT ERN AT ION AL IN V. P LC	0,00 00%	190 .000	0,3 531 %	0,0 000 %	0,0 000 %
MG I FU ND S P LC	0,00 00%	15. 659	0,0 291 %	0,0 000 %	0,0 000 %
MIC RO SOF T G LO BA L F INA NC E	0,00 00%	23. 859	0,04 43%	0,0 000 %	0,0 000 %
NC S L MIL LPE IL U P MM SE LEC T E QU ITY AS SET FU ND	0,00 00% 00%	145 293	0,0 003 % 005 %	0,0 000 % 000 %	0,0 000 % 000
MS CI E AFE SM AL L C AP PRO V I ND EX SE C C OM MO N T R F	0,00 0,00 00%	4.4 83	0,0 0,0 083 %	0,0 0,0 000 %	0,0 % 0,0 000 %
MU LTI -ST YL E, M UL TI-M AN AG ER FUN DS PLC	0,00 00%	23. 952	0,04 45%	0,0 000 %	0,0 000 %
MU NIC IPA L E MP LO YE ES' AN NU ITY AN D B EN EFI T F UN D O F C HIC AG O	0,00 00%	1.3 53	0,0 025 %	0,0 000 %	0,0 000 %
MU NIC IPA L E MP LO YE ES' RE TIR EM EN T S YST EM OF MI CH IGA N	0,00 00%	36. 117	0,0 671 %	0,0 000 %	0,0 000 %
NA TIO NA L C OU NC OR SO CIA L S ECU .R.C IL F RIT Y F UN D, P	0,00 00%	1.9 99	0,0 037 %	0,0 000 %	0,0 000 %
NA TIO NA L R AIL RO AD RE TIR EM EN T IN VE STM EN T T RU ST	0,00 00%	8.7 87	0,0 163 %	0,0 000 %	0,0 000 %
NA TIO NA L R AIL RO AD RE TIR EM EN T IN VE STM EN T T RU ST	0,00 00%	46. 087	0,0 856 %	0,0 000 %	0,0 000 %
NA TIO NA L W EST MIN STE R B AN K P LC AS TRU STE E O F K ES STR AT IN V F	0,00 00%	3.4 09	0,0 063 %	0,0 000 %	0,0 000 %
NE W Y OR K S TA TE CO MM ON RE TIR EM EN T F UN D	0,00 00%	46. 164	0,0 858 %	0,0 000 %	0,0 000 %
SU ION NE W Z EA LA ND PER AN NU AT FU ND	0,00 00%	1.1 85	0,0 022 %	0,0 000 %	0,0 000 %
NKB 13 G LOB AL DIV ERS IFIE D 105	0,00 00%	14.4 98	0,0 269 %	0,0 000 %	0,0 000 %
NO DA KO TA ST AT STM OA RTH E IN VE EN T B RD NO RTH DA KO TA ST AT E IN VE STM EN T B OA RD	0,00 00% 00%	1.0 00 2.5 54	0,0 019 % 047 %	0,0 000 % 000 %	0,0 000 % 000
NO RTH ERN TR UST GL OB AL IN VE STM EN TS CO LLE CTI VE FU ND S T RU ST	0,00 0,00 00%	13. 087	0,0 0,0 243 %	0,0 0,0 000 %	0,0 % 0,0 000 %
NO RTH ERN TR UST GL OB AL IN VE STM EN TS CO LLE CTI VE FU ND S T RU ST	0,00 00%	255	0,0 005 %	0,0 000 %	0,0 000 %
NO RTH ERN TR UST GL OB AL IN VE STM EN TS CO LLE CTI VE FU ND S T RU ST	0,00 00%	4.9 38	0,0 092 %	0,0 000 %	0,0 000 %
GI- QM CO ON DA AL L C OU S IN ON NT MM ILY NW D E X-U V M KT IND EX F N LEN D	0,0 000 %	657	0,0 012 %	0,0 000 %	0,0 000 %
NU ME RIC AB S R ETU RN PD LP -EU NA RM N	0,00 00%	2.3 30	0,0 043 %	0,0 000 %	0,0 000 %
NU ME RIC MU LTI ST RA TEG Y M AR KE T N EU TRA L L EV ERE D O FFS HO RE FUN D L IMI TED	0,0 000 %	19	0,0 000 %	0,0 000 %	0,0 000 %
NU ME RIC SO CIA LLY AW AR E M UL TI S TRA TEG Y F UN D L TD	0,00 00%	7	0,0 000 %	0,0 000 %	0,0 000 %
NU ME RIC SO CIA LLY AW AR E M UL TI S TRA TEG Y F UN D L TD	0,00 00%	3	0,0 000 %	0,0 000 %	0,0 000 %
OD EY IN VE STM EN TS PLC	0,00 00%	45. 500	0,0 846 %	0,0 000 %	0,0 000 %
OD EY IN VE STM EN TS PLC	0,00 00%	12. 067	0,0 224 %	0,0 000 %	0,0 000 %

OIL IN VE STM EN T C OR POR AT ION LT D.	0,00	00% 4.2 20	0,0 078 %	0,0 000 %	0,0 000 %
ON EPA TH GL OB AL SH AR ES - SM AL L C AP IND EX	0,00	00% 1.1 86	0,0 022 %	0,0 000 %	0,0 000 %
OR EGO IC E LOY EES SY STE N P UBL MP RE TIR EM ENT M	0,00	00% 15. 359	0,0 285 %	0,0 000 %	0,0 000 %
OW EN S C OR NIN G D EFI NE D B EN EFI T M AS TR	0,00	00% 5.9 99	0,0 111 %	0,0 000 %	0,0 000 %
PAC IFIC SE LEC T F UN D IN TER NAT ION AL SM ALL -CA P P OR TFO LIO	0,00	00% 65. 695	0,1 221 %	0,0 000 %	0,0 000 %
PAN AG OR A A SSE T M AN AG EM EN T IN C	0,00	00% 251	0,0 005 %	0,0 000 %	0,0 000 %
PEC O E NE RG Y C OM PAN Y R ETI REE ME DIC AL TR UST	0,00	00% 1.74 5	0,0 032 %	0,0 000 %	0,0 000 %
SIO FO PLO S O F C ON CO ERS PEN N P LAN R T HE EM YEE RD IA U NIV ITY	0,00	00% 4.4 69	0,0 083 %	0,0 000 %	0,0 000 %
SIO ESE ES EST UST PEN N R RV INV ME NT TR FU ND PEN SIO N R ESE RV ES INV EST ME NT TR UST FU ND	0,00	00% 1.1 60 00% 6.8 00	0,0 022 % 126	0,0 000 % 000	0,0 000 % 000
PEN SIO N R ESE RV ES INV EST ME NT TR UST FU ND	0,00 0,00	00% 5.5 10	0,0 % 0,0 102 %	0,0 % 0,0 000 %	0,0 % 0,0 000 %
PF INT ERN ATI ON AL SM ALL CA P F UN D	0,00	00% 3.4 00	0,0 063 %	0,0 000 %	0,0 000 %
PHC SM CA NT ALL P	0,00	00% 1.2 90	0,0 024 %	0,0 000 %	0,0 000 %
PIN E IS LAN D II I, LL C	0,00	00% 12. 127	225 0,0 %	0,0 000 %	0,0 000 %
POL ICE ME N'S AN NU ITY AN D B EN EFI T F UN D O F C HIC AG O	0,00	00% 14. 919	0,0 277 %	0,0 000 %	0,0 000 %
PRO CER RS GU OF AM CA NSI ON AN DU -WR ITE ILD ERI PE PL	0,00	00% 378	0,0 007 %	0,0 000 %	0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT AS SOC IAT ION OF CO LO RA DO	0,00	00% 28.4 15	0,0 528 %	0,0 000 %	0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT AS SOC IAT ION OF NE W M EX ICO	0,00	00% 1.0 70	0,0 020 %	0,0 000 %	0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT SY STE M O F M ISS ISS IPI	0,00	00% 8.6 39	0,0 161 %	0,0 000 %	0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT SY STE M O F O HIO	0,00	00% 18. 297	0,0 340 %	0,0 000 %	0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT SY STE M O F O HIO	0,00	00% 3.1 86	0,0 059 %	0,0 000 %	0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT SY STE M O F O HIO	0,00	00% 5.1 36	0,0 095 %	0,0 000 %	0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT SY STE M O F O HIO LIC PLO ES SY STE M O F O HIO PUB EM YE RET IRE ME NT	0,00 0,00	00% 40. 219 00% 11. 397	0,0 747 % 0,0 212 %	0,0 000 % 0,0 000 %	0,0 000 % 0,0 000 %
PUB LIC EM PLO YE ES RET IRE ME NT SY STE M O F O HIO	0,00	00% 27.4 39	0,0 510 %	0,0 000 %	0,0 000 %
QA AS SUP ERA UA TIO LA NT NN N P N	0,00	00% 15. 781	0,0 293 %	0,0 000 %	0,0 000 %
REG IME DE RE NT ES DU MO UV EM EN T D ESJ AR DIN S	0,00	00% 26. 922	0,0 500 %	0,0 000 %	0,0 000 %
REN AIS SAN CE GLO BAL SM ALL -CA P F UN D	0,00	00% 1.9 83	0,0 037 %	0,0 000 %	0,0 000 %
RET AIL EM PLO YE ES SUP ERA NN UA TIO N T RU ST	0,00	00% 117 .079	0,2 176 %	0,0 000 %	0,0 000 %
RO LTO OU TIO B A ND ME LAN I WA N F NDA N	0,00	00% 3.1 10	0,0 058 %	0,0 000 %	0,0 000 %
ROW F G T A CW I EX US	0,00	00% 32. 894	0,0 611 %	0,0 000 %	0,0 000 %
RUS SEL L IN VES TM ENT CO MP ANY IV PLC	0,00	00% 4.0 56	0,0 075 %	0,0 000 %	0,0 000 %
RUS SEL L IN VES TM ENT CO MP ANY PL C	0,00	00% 3.2 27	0,0 060 %	0,0 000 %	0,0 000 %
SAC RA ME NT O C OU NT Y E MP LO YE ES RET IRE ME NT SY STE M SBC MA STE R P EN SIO N T RU ST	0,00	00% 23. 784 00% 8.0 92	0,04 42% 150 %	0,0 000 % 000 %	0,0 000 % 000
SBC MA STE R P EN SIO N T RU ST SBC MA STE R P EN SIO N T RU ST 208	0,00 0,00	00% 22. 193	0,0 0,04 12%	0,0 0,0 000 %	0,0 % 0,0 000 %
SCH RO DE R IN TER NA TIO NA L S ELE CTI ON FU ND	0,00	00% 109 .032	0,2 026 %	0,0 000 %	0,0 000 %
SCH RO DE R IN TER NA TIO NA L S ELE CTI ON FU ND	0,00	00% 8.34 4	0,0 155 %	0,0 000 %	0,0 000 %
SCH WA B IN TER NA TIO NA L S MA LL- CA P E QU ITY ET F	0,00	00% 11. 690	0,0 217 %	0,0 000 %	0,0 000 %
SCS NA VIG AT OR FU ND	0,00	00% 9.7 00	0,0 180 %	0,0 000 %	0,0 000 %
SEI GL OBA L M AST ER FUN D P LC	0,00	00% 6.8 05	0,0 126 %	0,0 000 %	0,0 000 %
SHE LL P ENS ION S TR UST LIM ITED AS TRU STE E OF SHE LL C ONT RIB UTO RY PEN SION FUN D	0,00	00% 8.8 99	0,0 165 %	0,0 000 %	0,0 000 %
SHE ENS ION S TR UST AS STE E OF SHE LL C ONT UTO SION LL P LIM ITED TRU RIB RY PEN FUN D	0,00	00% 8.6 56	0,0 161 %	0,0 000 %	0,0 000 %
SHE LL TRU ST (BE RM UD A) LIM ITE D A S T RU STE E	0,00	00% 1.3 64	0,0 025 %	0,0 000 %	0,0 000 %
SHE LL T RUS T (B ERM UDA ) LT D A S TR UST EE O F TH E SH ELL OV ERS EAS C.P . FU ND	0,00	00% 3.4 53 00% 2.7 00	0,0 064 % 050	0,0 000 % 000	0,0 000 % 000
SHE LL T RUS T (B ERM UDA ) LT D A S TR UST EE O F TH E SH ELL OV ERS EAS C.P . FU ND SOU TH CA LIF UT D F OO D & CO MM WK UN & F OO D E MP L JO INT PE NS TR F	0,00 0,00	00% 5.04 0	0,0 % 0,0 094 %	0,0 % 0,0 000 %	0,0 % 0,0 000 %
SPD R S &P INT ERN ATI ON AL SM ALL CA P E TF	0,00	00% 9.4 92	0,0 176 %	0,0 000 %	0,0 000 %
SPD R S &P WO RLD (EX -US ) ET F	0,00	00% 8.3 54	0,0 155 %	0,0 000 %	0,0 000 %
SS AN ST CO AN DS FOR TA BK D T RU MP Y IN V F UN XE XE MP T R ETI REM EN T P L	0,00	00% 16. 520	0,0 307 %	0,0 000 %	0,0 000 %
SS BK AN D T RU ST CO MP AN Y IN V F UN DS FOR TA XE XE MP T R ETI REM EN T P L	0,00	00% 105 .307	0,1 957 %	0,0 000 %	0,0 000 %
SS BK AN D T RU ST CO MP AN Y IN V F UN DS FOR TA XE XE MP T R ETI REM EN T P L	0,00	00% 7.6 89	0,0 143 %	0,0 000 %	0,0 000 %
SS BK AN D T RU ST CO MP AN Y IN V F UN DS FOR TA XE XE MP T R ETI REM EN T P L	0,00	00% 12. 026	0,0 223 %	0,0 000 %	0,0 000 %
STA TE OF AL ASK A R ETI REM EN T A ND BE NE FIT S P LA NS	0,00	00% 194	0,0 004 %	0,0 000 %	0,0 000 %
STA OF SOT A TE MIN NE	0,00	00% 1.9 34	0,0 036 %	0,0 000 %	0,0 000 %
STA TE OF MO NT AN A B OA RD OF IN VE STM EN TS	0,00	00% 11. 679	0,0 217 %	0,0 000 %	0,0 000 %
STA TE OF NE W J ER SEY CO MM ON PE NSI ON FU ND D STA TE OF NE W J ER SEY CO MM ON PE NSI ON FU ND D	0,00 0,00	00% 79. 798 00% 27. 147	0,14 83% 0,0 504 %	0,0 000 % 0,0 000 %	0,0 000 % 0,0 000 %
STA TE STR EET GL OB AL AD VIS OR S L UX EM BO UR G S ICA V	0,00	00% 18. 753	0,0 348 %	0,0 000 %	0,0 000 %
STA STR GL OB AL AD VIS OR S L BO G S ICA TE EET UX EM UR V	0,00	00% 11. 173	0,0 208 %	0,0 000 %	0,0 000 %
STG PF DS V.D . GR AFI SCH E	0,00	00% 16. 145	0,0 300 %	0,0 000 %	0,0 000 %
STI CH TIN G P EN SIO EN FON DS VO OR HU ISA RT SEN	0,00	00% 1.9 03	0,0 035 %	0,0 000 %	0,0 000 %
STI CH TIN G P HIL IPS PE NSI OE NF ON DS	0,00	00% 3.7 78	0,0 070 %	0,0 000 %	0,0 000 %
STI CH TIN G S HE LL PEN SIO EN FON DS	0,00	00% 21. 984	0,04 09%	0,0 000 %	0,0 000 %
STI CH TIN G S HE LL PEN SIO EN FON DS	0,00	00% 9.3 00	0,0 173 %	0,0 000 %	0,0 000 %
SUN SUP ER SUP ERA NN UAT ION FU ND	0,00	00% 47. 032	0,0 874 %	0,0 000 %	0,0 000 %
TEA CH S' R T S YST OF E S TA OF INO IS ER ETI REM EN EM TH TE ILL	0,00	00% 95. 370	0,1 772 %	0,0 000 %	0,0 000 %
TEA CH ER S' R ETI REM EN T S YST EM OF TH E S TA TE OF ILL INO IS	0,00	00% 30. 185	0,0 561 %	0,0 000 %	0,0 000 %
TEA CH ER S'S RET IRE ME NT SY STE M O F O KL AH OM A	0,00	00% 69. 268	0,1 287 %	0,0 000 %	0,0 000 %

TEA MS TER S P EN SIO N T RU ST FUN D O F P HIL AD ELP HIA AN D V ICI NIT Y	0,00 00%		0,0 000 %	0,0 000 %	2.4 56	0,0 046 %
TEN NES SEE CO NSO LID ATE D R ETI REM ENT SY STE M	0,00 00%	9.4 87	0,0 176 %	0,0 000 %		0,0 000 %
TEX AS MU NIC IPA L R ETI REM EN T S YST EM	0,00 00%	61. 792	0,1 148 %	0,0 000 %		0,0 000 %
AS SCO SH OS FOR CR CH TEX TTI RIT E H PIT AL IPP LED ILD REN	0,00 00%	1.0 78	0,0 020 %	0,0 000 %		0,0 000 %
TH E B AR CLA YS BA NK UK RE TIR EM EN T F UN D	0,00 00%	38. 524	0,0 716 %	0,0 000 %		0,0 000 %
TH E B OE ING CO MP AN Y E MP LO YE E R ETI REM EN T P	0,00 00%	42. 372	0,0 787 %	0,0 000 %		0,0 000 %
TH E B OE ING CO MP AN Y E MP LO YE E R ETI REM EN T P	0,00 00%	3.9 75	0,0 074 %	0,0 000 %		0,0 000 %
TH E C LEV ELA ND CL INI C F OU ND AT ION	0,00 00%	2.0 08	0,0 037 %	0,0 000 %		0,0 000 %
UCA TIO PLO S S SY STE M O CO THE ED NAL EM YEE UPP LEM ENT ARY RE TIR EM ENT F FA IRF AX UNT Y	0,00 00%	5.5 86	0,0 104 %	0,0 000 %		0,0 000 %
E G BC GR OW TH IN TL TH FU ND	0,00 00%	28.4 61	0,0 529 %	0,0 000 %		0,0 000 %
TH E M ETH OD IST HO SPI TA L	0,00 00%	11. 901	0,0 221 %	0,0 000 %		0,0 000 %
OV A S CO TIA AL PLO ES S P TH E N HE TH EM YE PEN L THE RE GE NTS OF TH E U NIV ERS ITY OF CA LIFO RN IA	0,00 00%	797	0,0 015 %	0,0 000 %		0,0 000 %
GE NTS OF ERS OF CA LIFO THE RE TH E U NIV ITY RN IA	0,00 00%	207 32	0,0 004 % 001	0,0 000 % 000		0,0 000 % 000
THE RE GE NTS OF TH E U NIV ERS ITY OF CA LIFO RN IA	0,00 00% 00%	3	0,0 % 000 %	0,0 % 000 %		0,0 % 000
TH E R OC KE FEL LER FO UN DA TIO N	0,00 0,00 00%	10. 385	0,0 0,0 193 %	0,0 0,0 000 %		0,0 % 0,0 000 %
E S TA OF CO ECT ICU T A CTI NG RO UG TS ASU TH TE NN TH H I TRE RER	0,00 00%	14. 934	0,0 278 %	0,0 000 %		0,0 000 %
TH E S TA TE OF CO NN ECT ICU T A CTI NG TH RO UG H I TS TRE ASU RER	0,00 00%	99. 000	0,1 840 %	0,0 000 %		0,0 000 %
TH E T IFF KE YST ON E F UN D, L .P.	0,00 00%	4.0 63	0,0 076 %	0,0 000 %		0,0 000 %
THE TR UST EES OF CA TER PIL LAR PE NSI ON PL AN	0,00 00%	2.0 00	0,0 037 %	0,0 000 %		0,0 000 %
TIF F IN VE STM EN T P RO GR AM , IN C - TIF F M UL TI-A SSE T F UN D	0,00 00%	21. 714	0,04 04%	0,0 000 %		0,0 000 %
TO UC HST ON E S TRA TEG IC T RUS T-IN T	0,00 00%	80. 646	0,14 99%	0,0 000 %		0,0 000 %
TW O S IGM A A BSO LU TE RET UR N P OR TFO LIO LL C C OR POR AT ION SE RV ICE CO MP AN Y	0,00 00%	57	0,0 001 %	0,0 000 %		0,0 000 %
TW O S IGM A S PEC TRU M P OR TFO LIO LL C.	0,00 00%	178	0,0 003 %	0,0 000 %		0,0 000 %
TXM F LS V	0,00 00%	17. 700	0,0 329 %	0,0 000 %		0,0 000 %
UA W R ETI REE ME DIC AL BE NE FIT S T RU ST	0,00 00%	837	0,0 016 %	0,0 000 %		0,0 000 %
DIC S T ST UA W R ETI REE ME AL BE NE FIT RU	0,00 00%	1.7 90	0,0 033 %	0,0 000 %		0,0 000 %
UB S (U S) G RO UP TRU ST	0,00 00%	717	0,0 013 %	0,0 000 %		0,0 000 %
S E UB TF	0,00 00%	1.0 33	0,0 019 %	0,0 000 %		0,0 000 %
UB S F UN D M GT (CH ) A G C H05 16/U BSC HIF 2-E GSC PII	0,00 00%	4.44 7	0,0 083 %	0,0 000 %		0,0 000 %
UN ISU PER	0,00 00%	1.5 68	0,0 029 %	0,0 000 %		0,0 000 %
UN IVE RSA L IN VES T B AYV K A 1 FO NDS	0,00 00%	4.94 5	0,0 092 %	0,0 000 %		0,0 000 %
RSI OF GU OR EIG RO ST UN IVE TY ELP H F N P PER TY TRU	0,00 00%	4.0 96	0,0 076 %	0,0 000 %		0,0 000 %
S G RO ST UP UP TRU	0,00 00%	24. 696	0,04 59%	0,0 000 %		0,0 000 %
UTA H S TAT E R ETI REM ENT SY STE MS UTC AC AD IAN AS SET MG MT	0,00 00% 00%	1.8 67 3.1 55	0,0 035 % 059 %	0,0 000 % 000 %		0,0 000 % 000
VAN GU AR D D EVE L A LL-C AP EX NO RTH AM ERI CA EQT IND PO OLE D F UN D	0,00 0,00 00%	38	0,0 0,0 001 %	0,0 0,0 000 %		0,0 % 0,0 000 %
VA NG UA RD DE VE LO PED MA RK ETS IN DE X F UN D	0,00 00%	90. 548	0,1 683 %	0,0 000 %		0,0 000 %
VA NG UA RO PEA N S TO CK RD EU IN DE X F UN D	0,00 00%	38. 295	0,0 712 %	0,0 000 %		0,0 000 %
VA NG UA RD FT SE AL L W OR LD SM AL L C AP IND FU	0,00 00%	33. 933	0,0 631 %	0,0 000 %		0,0 000 %
VA NG UA RD FT SE DE VE LO PED AL L C AP EX NO RTH AM ERI CA IN DE X E TF	0,00 00%	85	0,0 002 %	0,0 000 %		0,0 000 %
VA NG UA RD FT SE DE VE LO PED EU RO PE AL L C AP IND EX ET F	0,00 00%	178	0,0 003 %	0,0 000 %		0,0 000 %
VA NG UA RD IN TER NA TIO NA L S MA LL CO MP AN IES I	0,00 00%	1.1 25	0,0 021 %	0,0 000 %		0,0 000 %
VAN GU AR D IN V F UN DS ICV C-V ANG UAR D F TSE GL OB ALL CA P IN D F UN D	0,00 00%	107	0,0 002 %	0,0 000 %		0,0 000 %
VA NG UA RD IN VE STM EN T S ERI ES, PL C	0,00 00%	4.14 5	0,0 077 %	0,0 000 %		0,0 000 %
VA NG UA TO TA NA TIO NA L S TO CK RD L IN TER IN DE X	0,00 00%	251 .516	0,4 674 %	0,0 000 %		0,0 000 %
VA NG UA RD TO TA L W OR LD ST OC K IN DE X F UN D	0,00 00%	6.2 13	0,0 115 %	0,0 000 %		0,0 000 %
VE RM ON T P EN SIO N I NV EST ME NT CO MM ITT EE	0,00 00%	21. 296	0,0 396 %	0,0 000 %		0,0 000 %
VFM SM ALL CO MP AN IES TR UST	0,00 00%	29. 782	0,0 553 %	0,0 000 %		0,0 000 %
C IN ION EQ RUS VFM TER NAT AL UIT Y T T 1	0,00 00%	8.8 05	0,0 164 %	0,0 000 %		0,0 000 %
VFM C IN TER NAT ION AL EQ UIT Y T RUS T 2	0,00 00%	17. 603	0,0 327 %	0,0 000 %		0,0 000 %
VIR GIN IA RET IRE ME NT SY STE M .	0,00 00%	80. 153	0,14 90%	0,0 000 %		0,0 000 %
VIR GIN IA RET IRE ME NT SY STE M . VO YA MM INT L S M C AP FND AC AD IAN	0,00 00%	51. 300	0,0 953 %	0,0 000 %		0,0 000 %
WA SAT CH GL OB AL OP POR TU NIT IES FU ND	0,00 00% 00%	3.6 54 21.4 74	0,0 068 % 399 %	0,0 000 % 000 %		0,0 000 % 000
WA SAT CH NA TIO NA L G RO IN TER WT H F UN D	0,00 0,00 00%	345 .468	0,0 0,64 20%	0,0 0,0 000 %		0,0 % 0,0 000 %
WA SAT CH INT L S MA LL C AP GR OW TH	0,00 00%	12. 395	0,0 230 %	0,0 000 %		0,0 000 %
WA SHI NG TO N S TA TE INV EST ME NT BO AR D	0,00 00%	1.4 32	0,0 027 %	0,0 000 %		0,0 000 %
WE ST VIR GIN IA INV EST ME NT MA NA GE ME NT BO AR D	0,00 00%	39. 266	0,0 730 %	0,0 000 %		0,0 000 %
WIL LIA M B LA IR C OL LEC TIV E IN VE STM EN T T RU ST	0,00 00%	75. 816	0,14 09%	0,0 000 %		0,0 000 %
IR C OL LEC STM ST WIL LIA M B LA TIV E IN VE EN T T RU	0,00 00%	42. 000	0,0 781 %	0,0 000 %		0,0 000 %
WIL LIA M B LA IR I NT ERN AT ION AL SM AL L C AP GR OW TH FU ND	0,00 00%	118 .914	0,2 210 %	0,0 000 %		0,0 000 %
SDO NA MIC CU CY DG L S MA LLC AP WI MT REE DY RR EN HE ED IN TRN	0,00 00%	77	0,0 001 %	0,0 000 %		0,0 000 %
WI SDO MT REE EU RO PE HE DG ED SM AL LCA P E QU ITY FU ND	0,00 00%	15. 511	0,0 288 %	0,0 000 %		0,0 000 %
WI SDO MT REE EU RO PE LO CA L R EC OV ERY FU ND	0,00 00%	299	0,0 006 %	0,0 000 %		0,0 000 %
WI SDO MT REE EU RO PE SM AL LCA P D IVI DE ND FU ND	0,00 00%	138 .010	0,2 565 %	0,0 000 %		0,0 000 %
WI SDO MT REE EU RO PE SM AL LCA P D IVI DE ND FU ND	0,00 00%	731	0,0 014 %	0,0 000 %		0,0 000 %
SDO NA TIO NA L S MA LLC AP WI MT REE IN TER DIV IDE ND FU ND	0,00 00%	74.4 82	0,1 384 %	0,0 000 %		0,0 000 %
WI SDO MT REE ISS UE R P UB LIC LIM ITE D C OM PAN Y	0,00 00%	8.2 36	0,0 153 %	0,0 000 %		0,0 000 %

WM PO OL - EQ UIT IES TR UST NO 72		0,00 00%	21.4 57	0,0 399 %		0,0 000 %		0,0 000 %
WY OM ING RE TIR EM ENT SY STE M		0,00 00%	58. 297	0,1 083 %		0,0 000 %		0,0 000 %
TO TA L	0	0,0 000 %	42.4 04.7 79	78, 803 0%	0	0,0 000 %	159 .611	0,2 966 %

	Applicable Provisions 5
	Structuring of the Report 5
	SECTION I - Remuneration and incentive policies 7
1.	Bodies and entities involved in the preparation, approval and implementation of remuneration policies 7
1.1	Shareholders' Meeting 7
1.2	Board of Directors 7
1.3	Remuneration Committee 8
	Composition 9
	Operational mode 9
	Committee Meetings 10
1.4	Chief Executive Officer 11
1.5	General Manager 11
1.6	Control Functions 11
1.7	Other structures involved 12
1.8	Independent experts that were involved in the preparation of the remuneration policy 12
2.	Principles and purposes of the remuneration and incentive policies 12
2.1	Main changes compared to the previous financial year 13
3.	Recipients and contents of 2017 Policies 14
	Recipients of Policies and identification of key personnel 14
	Conditions for access to the variable component (gate) 14
	Directors' remuneration 15
	Auditors' remuneration 15
	Parent Company's Chief Executive Officer and General Manager's remuneration 16
	Remuneration for Control Functions 17
	Remuneration of other key personnel 17
	Structure of variable component structure for principal staff. 18
	Malus condition 19

	Claw back 20
	Long Term Incentive 20
	Ban on hedging strategies 21
	Remuneration of agents in financial activities 21
	Other types of employees 22
	Remuneration of non-employee collaborators 22
4.	Non-monetary benefits 22
5.	Payment provided in case of cessation from the assignment or termination of the employment relationship 23
6.	Implementation of Policies in subsidiaries 23
	SECTION II 24
1.	Part One 24
1.1	Entries that compose the remuneration 24
1.2	Further information on the consistency of fees with the remuneration policy 25
	Executives (not included in the definition of managers with strategic responsibilities) 26
	Middle Management and Professional Areas that hold commercial roles 26
	Other Middle Management and Professional Areas 26
	Other information 26
	Group Companies 26
2.	Part two: remuneration paid in 2016 30
	Table 1: remuneration paid to members of the administration and audit bodies, to the general managers and to the other executives with strategic responsibilities (figures in thousands of euro) 30
	Other tables: monetary incentive plans for members of the administration and audit bodies, to the general managers and to the other executives with strategic responsibilities 33
	Scheme relating to the shareholdings of directors, statutory auditors, of the general manager and of the other managers with strategic responsibilities 35
	Table 1: shareholdings of members of the organs of administration and audit and of the general managers 35
	Table 2: shareholdings of other managers with strategic responsibilities 36
	Other tables 37

Dear Shareholders,

Pursuant to art. 123 c of Legislative Decree 24th February 1998 no.58 (Consolidated Finance Act), you are called to decide for or against Section I of this report.

With this Report, Banca IFIS S.p.A.'s Board of Directors aims to comply with the above-mentioned law referred to in art. 123 c of the Consolidated Finance Act, the banking regulations and the selfregulatory rules contained in the Self-Governance code for listed companies, as specified below.

In light of the opportunity provided by Annex 3A, Scheme No. 7-b of the "Issuer's Regulations", to comply, in a single document, with the regulations referred to in art. 123 c of the Consolidated Finance Act and with the Bank of Italy's Supervisory Provisions on remuneration, this report includes additional information, in aggregate form, on so-called "Risk Takers" not included within the scope of the afore-mentioned Consolidated Finance Act article.

Detailed information is also supplied regarding what is contained in the "Information Document concerning remuneration plans based on financial instruments" (pursuant to article 114 b of the Consolidated Finance Act and article 84 b of Consob's Issuer Regulations). The Remuneration Report and the Information document relating to remuneration based on financial instruments are available on the website http://www.bancaifis.it/Corporate-Governance/Shareholders-Meetings/.

Information about the requirements of reporting to the public pursuant to the Supervisory Provisions for banks – Circular 285 of 17th December 2013 – on corporate governance, can be found in the report on corporate governance and information about the ownership structures, which can be found on the Bank's website http://www.bancaifis.it/Corporate-Governance/Corporate documents.

INTRODUCTION

Applicable Provisions

The Remuneration Report (the "Report") was prepared by Banca IFIS Group (the "Group") in accordance with:

• article 123 c of the CFA, entitled "Remuneration Report";
• article 114 b of TUF, entitled "disclosure of information to the market on awards of financial instruments to corporate officers, employees or contractors";
• Consob Regulation no. 11971/1999 (Issuers' Regulations), with particular reference to articles 84 d, entitled "Remuneration Report", and 84 b, entitled "Information on the allocation of securities to corporate officers, employees or contractors", as well as to Annex 3A, Scheme no. 7 b "Remuneration Report" of the Issuers' Regulations and Scheme no. 7 "Information document which is the subject of the explanatory report of the Board of Directors for the Shareholders Meeting called to approve the remunerations plans based on financial instruments";
• the provisions relating to "Remuneration and incentive policies and practices" issued by the Bank of Italy and contained in Circular no. 285 of 17 December 2013, implementing EC Directive 2013/36/EU (so-called CRD IV).

This Report also considers European legislation regarding:

• delegated Regulation (EU) of 4th March 2014 no. 604 that establishes the regulatory technical standards regarding the qualitative and quantitative criteria suitable to identify the categories of staff whose professional activities have a substantial impact on the risk profile of the institution (Key personnel or Risk Takers);
• Regulation (EU) of 26th June 2013 no. 575, regarding the provisions concerning the remuneration policy;
• Directive 2013/36/EU of 26th June 2013 (CRD IV), with respect to forecasts on policies and remuneration and incentive practices in banks and banking groups.

The EBA Guidelines, the provisions of the "Self Governance Code" and the format of Borsa Italiana S.p.A. were also considered for the Report on Corporate Governance and Ownership Structure in accordance with art. 123 b of the CFA.

Structuring of the Report

Based on the current provisions, formerly mentioned, this Report is divided into the following sections:

1. Section I: aimed at illustrating, for members of the Board of Directors, for the general managers and for managers with strategic responsibilities in addition to "Risk Takers" not included within the scope of article 123 c of the CFA, the Group's remuneration policy and the procedures used for the adoption and implementation of this policy. This section describes the policy provided for the year 2017;

2. Section II divided into two parts; the first aims to represent, by name, for members of the administrative and control bodies, for the general managers and, in aggregate, for managers with strategic responsibilities in addition to "Risk Takers" not included within the scope of article 123 c of the CFA, each of the items that make up the remuneration. The second part shows analytically, in tabular form, as indicated in Annex 3A, Scheme no. 7 b of the Issuers' Regulations, the remunerations paid during the year 2016, in any capacity and in any form, by the company and by subsidiaries or affiliates. Further information requested pursuant to Article 450 of (EU) Regulation of 26th June 2013, n. 575 is then inserted in table format by Banca IFIS and the other companies of the Group.

Regarding incentive plans based on financial instruments, detailed information is contained in the information document regarding remuneration plans based on financial instruments.

SECTION I - Remuneration and incentive policies

1. Bodies and entities involved in the preparation, approval and implementation of remuneration policies

The Parent Company's main bodies and personnel involved in the preparation and approval of the remuneration and incentive policies are:

• the Shareholders' Meeting;
• the Board of Directors;
• the Remuneration Committee;
• the CEO;
• the General Manager;
• the Control Functions;
• the Human Resources;
• Strategic Planning and Management Control.

The role of personnel in this regard is described in the Articles of Association and/or in the corporate regulations as specified below.

1.1 Shareholders' Meeting

The Ordinary Shareholders' Meeting, in accordance with art. 10 of the Articles of Association, "in addition to establishing the remuneration of the bodies it has appointed, approves:

• the remuneration and incentive policies for the Board of Directors, for the CEO, for the Board of Statutory Auditors, for the General Manager and for the remaining personnel;
• any remuneration plans based on financial instruments;
• the criteria for determining the remuneration to be agreed in the event of early termination of the employment relationship or early termination of the office, including the limits established in that remuneration in terms of annuities of fixed remuneration and the maximum amount that results from their application".

Pursuant to the same article, the Shareholders' Meeting may also:

• establish, pursuant to article 2389 of the Italian Civil Code, the remuneration of the members of the Board of Directors;
• determine a total amount for the remuneration of all the Directors, including those appointed with specific charges.

1.2 Board of Directors

The Board of Directors, according to the provisions of art. 14 of the Articles of Association, has exclusive jurisdiction over resolutions concerning "remuneration and incentive policies to be submitted to Shareholders' Meeting, the review, at least annually, of these policies and the responsibility for their correct implementation, also with the task of ensuring that the remuneration policy is adequately documented and accessible within the corporate structure".

In addition, pursuant to art. 10 of the Articles of Association, the Board of Directors, with the favourable opinion of the Board of Statutory Auditors, may also determine the remuneration of Directors vested with special tasks.

At the preliminary stage, the Board uses its own internal committee (Remuneration Committee) as specified below.

1.3 Remuneration Committee

The Remuneration Committee is an internal committee within the Parent Company's Board of Directors and provides support functions to the Board of Directors in defining the remuneration and incentive policies of the Group. Specifically, in accordance with the relevant Regulations, the Committee has the task of:

• "advising and formulating proposals to the Parent Company's Board of Directors for the remuneration and incentive schemes for corporate officers (including executive directors and other directors holding particular offices), of managers with strategic responsibilities and for the heads of the internal control functions of the Parent Company and of the other Group companies as well as establishing performance objectives related to the variable component of this remuneration;
• providing advice on determining the criteria for the remuneration of the remaining "key" employees identified within the Parent Company and the other Group companies in compliance with current supervisory regulations;
• directly overseeing the correct application of the rules on the remuneration of the managers of the internal control functions of the Parent Company and of the other companies of the Group, in close collaboration with the Board of Statutory Auditors;
• ensuring preparation of the documentation to be submitted to the Parent Company's Board of Directors for its decisions;
• collaborating with other committees within the Board of Directors, in particular with the Risk Management and Internal Control Committee, where the coincidence of a significant component of the members of the two committees does not ensure, by that very fact, such collaboration;
• ensuring the involvement of the Parent Company's Internal Audit Office, Human Resources Office, Strategic Planning Department, Risk Management Department and Compliance Department in the process of preparing and monitoring remuneration policies and practices of the Group;
• monitoring implementation of the decisions adopted by the Parent Company's Board of Directors and those of the other Group companies regarding remuneration and voicing opinion, also using the information received from the corporate structures, on the achievement of performance targets which are linked to the incentive plans and on the establishment of other conditions for the payment of remunerations;
• formulating proposals to the Parent Company's Board of Directors regarding the criteria for attributing stock options or allocating shares to Directors and employees of the Group;

on this last point, where possible, providing interpretation in controversial cases and rectifying the conditions of allocation of each tranche and regulating the exercise of consequent rights in the case of extraordinary transactions on the capital of the Parent Company (mergers, capital increases free or for a fee, splits or regroupings of shares, etc.)".

Pursuant to the Regulations stated, the President of the Committee reports to the Board of Directors on the activities carried out, at the first suitable meeting. The Committee also assesses at least once a year the adequacy, the overall consistency and the effective application of the remuneration policies of the Group, and reports to the Shareholders' Meeting of the Parent Company on the activities carried out.

Composition

The Remuneration Committee consists of three members chosen from among the non-executive members of the Parent Company's Board of Directors, the majority of whom are independent. As approved by the Board of Directors at the meeting of 22nd March 2016, the members of the Committee are:

• Francesca Maderna (non-executive and independent Director);
• Daniele Santosuosso (non-executive and independent Director);
• Riccardo Preve (non-executive and non-independent Director)1.

The Remuneration Committee is chaired by the director, Francesca Maderna, who, in particular, has an adequate knowledge and experience in finance and in remuneration policies.

Operational mode

The Remuneration Committee is appointed for three years and meets periodically, including by video link/telephone, every time the need arises in relation to the tasks assigned to it.

If one or more members of the Committee are no longer in office, the Board of Directors may appoint new ones and/or replace these members.

As established by the Regulations in force, the President of the Parent Company's Board of Statutory Auditors or another standing Statutory Auditor delegated by him on a time to time basis attends. Other members of the Board of Statutory Auditors may in any case attend and, where issues that affect them are not on the agenda, the CEO and the General Manager of the Parent Company. It is also ruled that no Director may attend meetings of the Committee in which proposals submitted to the Board of Directors regard their own remuneration.

The President of the Committee assesses, in relation to the matters to be discussed, the need to involve the Head of Risk Management to ensure that the incentive schemes are properly adjusted to take account of all the risks assumed by the Group, according to methods that are consistent with those adopted for risk management for regulatory and internal purposes.

The Committee may finally avail itself and/or request the presence of:

external consultants, who have expert knowledge of remuneration policies, who can also be chosen from among the Members of the Parent Company's Board of Directors, provided that such experts do not, at the same time, provide to the Human Resources, to the

1 This individual was nominated by the Board of Directors to replace the non-independent director, Andrea Martin.

Executive Directors or to managers with strategic responsibilities of the Parent Company and/or of the other companies of the Group services whose significance is such as to compromise the independent judgement of said consultants;

any Corporate Officer or employee of the Parent Company or of another Group company.

The Committee may access all company information deemed relevant for the performance of its tasks and may use, autonomously, the Bank's financial resources in the amount established by the Board and with the requirement of reporting with regards to any use of funds, at least once a year, usually during the review of the report on corporate governance and ownership structures.

Committee meetings were properly documented in minutes and signed by the Members.

Committee Meetings

During 2016 the Committee met eleven times; one of which was a joint meeting with the Board of Statutory Auditors and the other two Governance Committees: the Appointments Committee and the Risk Management and Internal Control Committee (CCR). The meetings were preceded by discussion among the members and/or by prior individual examination of the documentation. The average duration of each meeting was approximately one hour. The Committee did not make use of the services of external consultants.

During 2016, two directors, Francesca Maderna and Daniele Santosuosso, attended all eleven meetings, whilst Riccardo Preve (who replaced Andrea Martin2) attended seven meetings.

The CEO attended the meetings where the discussion of issues that concerned him was not envisaged. The President of the Board of Statutory Auditors also attended most meetings and, on one occasion, one other standing statutory auditor also attended.

During these meetings, the committee gave its opinion in relation to:

• incentive schemes applied to various business units of the Bank and the Group;
• information on the remuneration of "key personnel";
• implementation of the remuneration policies approved by the Shareholders' Meeting and the review requirements;
• proposal on the fees assignable to directors and auditors:
• proposal on the remuneration of heads of internal control functions;
• a proposal for the appointment of the Financial Reporting Officer;
• a proposal to identify managers with strategic responsibilities;
• the process of self-evaluation of key personnel.

During 2016, it was not necessary to activate the specific financial resources available to the Committee for the performance of its duties.

In 2017 two meetings of the Committee have already been held regarding: incentive systems for 2016 and for 2017; updating of the self-evaluation process of key personnel and the remuneration of key personnel and heads of internal control functions.

Meetings of the Committee have already been scheduled relating to:

2 Andrea Martin, non-executive and non-independent Director, who stepped down from this role on 22/03/2016, attended four meetings.

• this Remuneration Report pursuant to art. 123 c of the Issuers' Regulations;
• the disclosure document in accordance with articles 114 b of the CFA and 84 b of the Issuers' Regulations;
• the verifications of the Internal Audit Function concerning the compliance of remuneration practices with policies and with the regulatory environment.

1.4 Chief Executive Officer

The CEO, as defined pursuant to art. 15 of the Articles of Association, is responsible for implementing strategic direction and business management, and makes use of the General Directorate.

Regarding personnel management, the CEO is responsible for:

• defining and ensuring the implementation of the group process for the management of employees;
• approving the Personnel budget, in line with the organisational structure approved by the Board of Directors; in this area, the CEO ensures that measurements are conducted on current and future professional/profile needs that are consistent with strategic choices.

1.5 General Manager

In light of art. 17 of the Articles of Association, the General Manager oversees implementation of the directives of management of the CEO and assists the latter in the execution of the resolutions of the Board of Directors.

The General Manager therefore also has the task of making recommendations to the CEO on the contents of the process for the management of employees.

1.6 Control Functions

The control functions work together, each within their respective jurisdiction, to ensure the adequacy and compliance of the remuneration and incentive policies with prevailing legislation and their correct operation.

In particular:

• Compliance verifies, among other aspects, that the company remuneration system is consistent with the objectives of compliance with regulations, with the Articles of Association, as well as any ethical codes and/or other standards of conduct applicable to the Group so that the related legal and reputational risks are properly contained especially in relationships with customers;
• Internal Audit checks, at least annually, that remuneration practices comply with the approved policies and with the regulatory environment. The results and any anomalies identified are brought to the attention of the bodies and functions responsible for possible corrective measures and the evaluation of importance, with a view to prompt disclosure to the Bank of Italy. Every year, the results of the checks carried out are brought before the Shareholders' Meeting;

Risk Management works with the Remuneration Committee to ensure that the forms of incentive remuneration are consistent with the risk appetite (for example with the Risk Appetite Framework) and with governance and risk management policies and considering the level of capital and liquidity necessary to carry out the planned activities. It also supports Administration in determining, after the approval of the financial statements by the Shareholders' Meeting, the amount of variable remuneration attributable to the CEO, the General Manager and additional potential beneficiaries of remuneration based on financial instruments as well as for the verification of the conditions for their attribution.

1.7 Other structures involved

The main Parent Company functions involved in the preparation and implementation of the remuneration policy are:

• Human Resources;
• Strategic Planning and Management Control.

To ensure the overall consistency of the policy of the entire Group, bearing in mind the characteristics of each subsidiary, the HR Department of each subsidiary is involved.

1.8 Independent experts that were involved in the preparation of the remuneration policy

No independent experts were involved in the preparation of the remuneration policy.

2. Principles and purposes of the remuneration and incentive policies

This Report aims to regulate the remuneration and incentive policies followed by the banking Group in accordance with current legislation and considering the characteristics of the Group.

The remuneration and incentive policies are defined by the Parent Company in accordance with corporate objectives and values, with long-term strategies and with prudent risk management policies, in line with what is defined in the provisions on the prudential control process.

Banca IFIS Group's remuneration and incentive system is based on the following principles:

• promoting sound and effective risk management, not encouraging risk-taking that exceeds the level of tolerated risk;
• fostering competitiveness and good governance of the Group;
• attracting and retaining within the company employees with the professionalism and skills that are appropriate to the needs of the Group, particularly where these workers hold key roles within the organisation;
• promoting compliance with all laws and regulations, as well as transparency and fairness in dealings with customers, discouraging any infringement and/or unfair business practice;

• bringing coherence to the performance of the company with the objectives of sustainable growth of the Group;

• seeking the best alignment between the interests of different stakeholders;

• focusing attention on the policies to reduce risk;
• avoiding altering or undermining the risk alignment effects embedded in the remuneration mechanisms;
• avoiding creating a situation of conflict of interest.

A base fixed remuneration is set out for each employee that reflects their professional experience and their role, the market value of the role and the collective bargaining agreement in force. This component is sufficient for a variable part not to be paid.

For key staff, it is further established that any interventions on the fixed component cannot exceed an increase of 20% compared to the previous year's gross annual salary. In view of the Parent Company's strategically important projects and/or extraordinary transactions, for key personnel playing a particularly important role in these initiatives the possibility exists to allow, for a certain period of time, as long as the person has the specific post and, in any case, for a maximum of 18 months, specific recognition. This allowance, which is configured as a predefined sum, not tied to performance, on proposal from the Chief Executive Officer must be approved by the Board of Directors, after approval of the Remuneration Committee, and subsequently communicated to the interested parties by individual letter.

2.1 Main changes compared to the previous financial year

The main changes are aimed at better aligning Remuneration and Incentive policies to the objectives of: compatibility with levels of capital and liquidity, financial stability, medium to longterm direction and compliance with regulations.

To this end, the conditions for access to the variable component (gate) applying to all staff were made explicit, considering indicators of profitability, liquidity and capital adequacy.

Against this background, the formulas for calculating the variable component for the CEO and Director General were consequently adjusted, increasing the share of net profit before noncomputable taxes and excluding from this calculation any elements arising from extraordinary operations.

The materiality threshold laid down for implementing the rules on deferment and partial payment in shares was also reconsidered, lowering it to €70,000, as was the application of malus and claw back mechanisms.

To better align individual objectives to business results and value creation targets in the medium to long term, the possibility of a further Long Term Incentive has been defined for business units with a gross budget profit of more than €20 million in 2017.

Taking the Parent Company's strategically important projects and/or extraordinary operations into consideration, the potential for an allowance as a default sum, under specific conditions, has been set out for principal staff members who play a particularly important role in these initiatives, not linked to performance.

Finally, the methods of performance assessment were specified for principal staff responsible for corporate control functions, making it clear that any variable components may be proposed by the Remuneration Committee, in consultation with the Chief Executive Officer and the Director General, and the Board of Directors.

3. Recipients and contents of 2017 Policies

Recipients of Policies and identification of key personnel

Remuneration and incentive policies are defined for all Group personnel3, without prejudice to more detailed requirements for members of staff that have a substantial impact on the Group's risk profile (so-called key personnel). These individuals are regularly identified by the Parent Company in respect of all Group companies and considering the results of evaluations carried out by all individual Group companies affected, considering these criteria:

• qualitative and quantitative criteria, expressly defined by Delegated Regulation (EU) no. 604/2014;
• further criteria, established by the Parent Company to pay particular attention to the Bank of Italy's Supervisory Provisions to "the heads of major business lines, corporate functions or geographical areas; those who report directly to strategic supervision, management and control bodies; senior managers and senior staff of company control bodies"4 in addition to particular categories of staff such as "financial and insurance agents and financial advisors with external distribution networks"5 .

From the staff-assessment process for Group key personnel, led by Human Resources with the support of Compliance and Risk Management to the extent applicable and approved by the Board of Directors on 2nd March 2017, 47 individuals fall within the category of Group key personnel, grouped into the following categories:

 President of the Board of Director  Vice President  Non-executive Directors  Chief Executive Officer  General Manager  Managers with strategic responsibilities of control functions  Managers with strategic responsibilities of important business units	 Managers with strategic responsibilities of very important operating units  Head of control functions  Head of business units  Head of important operating units  Head of risk management structures  Head of service, consultancy and support structures
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------	---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Managers with strategic responsibility within the parent company are all included as key personnel.

Group key personnel accounts for about 3.5% of the Group's workforce

Any key personal, identified on an individual basis by each subsidiary, and not considered as such by the Group, will follow the same rules set out in the remuneration and incentive policies according to the category to which they belong.

Conditions for access to the variable component (gate)

Access to the variable portion for all personnel shall be subject to:

3 This means members of strategic supervisory, management and control bodies, employees and contractors of the Parent Company and its subsidiaries.

⁴ See also Bank of Italy Circular 285, Part I, Heading IV, Chapter 2, Section II, paragraph 2. 5 See also Bank of Italy Circular 285, Part I, Heading IV, Chapter 2, Section IV.

• the Group's consolidated result before taxes relating to the year in question, exceeding €60m6;
• respect of the prevailing minimum regulatory limits of the Group's Liquidity Coverage Ratio (LCR) indicator, calculated as an average of the last twelve month-ends of the year in question;
• a Group Total Own Founds Ratio exceeding the Overall Capital Requirement communicated by the Supervisory Body under the "Decisions on capital" at the conclusion of the supervisory review process (SREP).

The absence of any one of these parameters will prevent payment of the variable component.

The variable component is also recognised under the condition that the beneficiary is still in post/an employee of the Group and not working a period of notice for resignation or dismissal, except for retirement or placement in the solidarity fund.

Payment of a variable component will also be suspended where the Bank has instigated disciplinary proceedings in progress for fraud or gross negligence or for acts that may lead to the individual's dismissal by just cause.

Directors' remuneration

Shareholders' Meeting of 22nd March 2016, regarding the Board of Directors currently in office:

• resolved to attribute to the individual members, for the position of director, a fixed fee for each of the years 2016, 2017 and 2018, in addition to reimbursement of expenses incurred in their duties;
• resolved to give all Directors, except the President, Vice President and the CEO, a fee for each attendance of meetings of the Board of Directors;
• requested from the Board of Directors determination of additional remuneration for directors vested with special offices in accordance with Article 2389 of the Italian Civil Code for each of the years 2016, 2017 and 2018 also considering, where appropriate, company results, subject to an aggregate amount calculated per individual financial year, understood as inclusive of all fees awarded to members of the Board.

There are no incentive mechanisms for non-executive Directors, including the President.

For subsidiaries, their respective Shareholders' Meetings resolved that the members of the strategic supervisory bodies that play other roles within the Group as employees do not receive any compensation for their role on the Board of Directors. With reference to Interbanca, the Shareholders' Meeting voted to award its only independent Director, for the role of director, a fixed fee for each of the years 2017 and 2018.

Auditors' remuneration

Regarding the Board of Auditors, the Shareholders' Meeting of 22nd March 2016:

agreed to pay the President and two Standing Auditors a fixed annual fee, as well as reimbursing expenses sustained in the performance of their duties;

⁶ Not to be included in calculations are elements deriving from extraordinary transactions such as: capital increases, company mergers, demergers, acquisitions or any other non-recurring transaction that the Board of Directors should decide on and deem suitable to modify the value of the indicator.

agreed to pay to all the Standing Auditors a fee for every Board of Directors' meeting attended.

No incentive mechanisms are available for members of the Board of Auditors and there is no form of variable remuneration.

For subsidiaries, their respective Shareholders' Meetings voted to give the President and the two Standing Auditors a fixed annual fee, as well as reimbursement of expenses.

Parent Company's Chief Executive Officer and General Manager's remuneration

The CEO's remuneration involves, in addition to a fixed recurring fee, a variable part equal to 1.5% (percentage) of the Bank's consolidated result before taxes relating only to the year in question, for the part exceeding €60m7, which is correct, in turn, for the relationship between the Group final balance sheet RORAC8 (return on risk adjusted capital)9 and the Group's future RORAC10, in formula (A):

ܾ݈ܽܽ݊ܿ݁ ݈݅݊ܽܨܥܣܴܱܴ ൈ ሻ60.000.000 െ ݀݅ݎܲ݁ ݐ݂݅ݎܲ ݔܶܽ െ ݁ݎܲ ሺ ൈ % 1.5 ൌ ܾ݈݅ܽ݅݁ݎܸܽ ݁ݒ݅ݐܿ ݁ݏݎܲܥܣܴܱܴ

(A)

The incidence of the variable component to the fixed component may not exceed a maximum ratio 1:1.

The General Manager's remuneration consists of a comprehensive annual salary (RAL) and a variable remuneration equal to 0.75% (the so-called percentage) of the Bank's consolidated result gross only of the taxes pertaining to the financial year, for the part exceeding €60m11, which is correct in turn for the ratio between the Group final balance sheet RORAC12 (return on risk adjusted capital)13 and the Group prospective RORAC14, in formula (B):

$$
Variable = 0.75\% \times (Pre - Tax Profit_{Period} - 60.000.000) \times \frac{RORAC_{Final \ balance}}{RORAC_{Prospe \ curve}}
$$

(B)

In any case, the incidence of the variable component may not exceed 60% of the RAL.

7 Not to be included in calculations are elements deriving from extraordinary transactions such as: capital increases, company mergers, demergers, acquisitions or any other non-recurring transaction that the Board of Directors should

decide on and deem suitable to modify the value of the indicator. 8 Indicator calculated as the ratio between Net Profit for the period and Capital Absorbed for the first pillar risks. Elements that derive from extraordinary operations are not considered in the calculation such as capital increases, corporate mergers, demergers, acquisitions or in any case other non-recurring operations that the Board of Directors should deliberate and which are suitable to alter the value of the indicator. 9 The reference period is the same as for the objective RORAC (ex-ante measurement). 10 Defined in the strategic plan with a 12-month horizon. 11 Not to be included in calculations are elements deriving from extraordinary transactions such as: capital increases,

company mergers, demergers, acquisitions or any other non-recurring transaction that the Board of Directors should

decide on and deem suitable to modify the value of the indicator. 12 Indicator calculated as the ratio between Net Profit for the period and Capital Absorbed for the first pillar risks. Are not considered in the calculation elements that derive from extraordinary operations such as capital increases, corporate mergers, demergers, acquisitions or in any case other non-recurring operations that the Board of Directors should

deliberate and suitable to alter the value of the indicator. 13 The reference period is the same as for the objective RORAC (ex-ante measurement). 14 Defined in the strategic plan with a 12-month horizon.

Remuneration for Control Functions

The remuneration package for key personnel belonging to the control function (Risk Management, Compliance, Internal Audit, Anti Money Laundering, Human Resources and Statutory Reporting Manager) is structured with a prevailing fixed component and a variable part that is attributed annually based on quality and efficiency criteria.

During recruitment, without prejudice to the consultative and proposal role of the Remuneration Committee, determination of remuneration is attributable to:

• the Board of Directors for the key personnel of the control functions that work for it or for the Chief Executive Officer. For operational fluidity requirements, the Board of Directors, at the phase of analysis of the possible candidates, in consultation with the Remuneration Committee, can delegate to the CEO definition of the negotiation, indicating the reference parameters. After formalisation, the Managing Director informs the Committee and the Board;
• of the CEOs for the remaining most important personnel of the audit department (currently the Head of the Human Resources ). Following definition, the Managing Director informs the Committee and the Board.

At least annually, the Remunerations Committee analyses the individual positions and, in consultation with the CEO and the General Manager, regarding the Heads of Control Functions, expresses its opinion and formulates proposals to the Board of Directors.

The variable component is subject to prior quality evaluation that can be expressed on a scale of five levels of judgment and includes information on the following objectives:

• managing assigned projects and quality of service provided;
• management and development of resources assigned;
• care and prevention of the risks inherent in their own areas of responsibility;
• management and coordination of assigned tasks.

Each grading equates to a percentage of variable component to be allocated according to the following scale:

Excellent	Good	Above average	Average	Inadequate
100% of premium	80% of premium	50% of premium	0%	0%

up to the maximum fixed/variable component ratio which, for the most outstanding business function staff, cannot exceed the ratio of 1:3.

Subject to the conditions of access to variable component (gate), depending on the goals of corporate sustainability, incentive mechanisms linked to the performance of both Banca IFIS and the Group are excluded from determining the remuneration of key personnel belonging to control functions.

Remuneration of other key personnel

The remuneration of the remaining key personnel consists of a comprehensive annual salary and a variable component defined in advance for each individual based on predefined criteria and based on three pillars:

• qualitative performance assessment carried out jointly by the CEO and the General Manager;
• reaching a determined level of corporate cost income;
• reaching specific economic, commercial and operating objectives and satisfying internal and external customers inclusive of corrective risk measures (MBO- Management by Objectives).

The limit on the ratio between the variable component and a fixed component of the previous year is defined, and the amount of maximum theoretical variable component is determined in the following table:

Structures	No. of Managers	Previous year % max Bonus on RAL	Senior Management Assessment	Cost income ratio	MBO
Managers with strategic responsibilities of very important operating units	1	60%	30%	20%	50%
Managers with strategic responsibilities of important business units	2	60%	20%	20%	60%
Business Units	12	80%	20%	20%	60%
Risk management unit	7	50%	30%	20%	50%
Important operating units	1	50%	40%	20%	40%
Service, consultancy and support structures	7	50%	50%	20%	30%

To implement the management process shown above, relevant corporate regulations were issued, aimed at management of the system structured as follows.

The Remuneration Committee has a consultative role in determining the remuneration criteria that are subject to annual examination by the Board of Directors.

Subsequent interventions on fixed and/or variable remuneration are defined by the CEO under the criteria specified below.

At least on an annual basis, the CEO informs the Remuneration Committee on the decisions taken.

Structure of variable component structure for principal staff.

Since provision of a significant variable component was never envisaged, meaning a variable remuneration that exceeds the fixed salary, the percentage of deferred variable component is fixed at 40% for a period of 3 years.

The variable up-front remuneration is therefore payable upon approval of the financial statement for the year ended on 31st December of the previous year. 50% of this will be paid in Parent Company shares at the end of the three-year retention period15 to which the shares pertain, in line with strategic planning.

The variable remuneration, subject to a three-year vesting period following approval of the financial statement for the year ended on 31st December of the previous year, is determined on approval of those accounts.

15 Period during which there is a prohibition on the sale of shares.

50% of the variable remuneration subject to a vesting period will be paid in Parent Company shares at the end of the retention period16 of a year to which the shares pertain.

The remaining variable remuneration subject to a vesting period is subject to annual reassessment at the prevailing legal rate.

The number of shares to be assigned is determined by taking the average market price in the month preceding the determination of variable component as fair value, to be carried out on the date of the Shareholders' Meeting to approve the financial statement.

The number of shares is determined by rounding to the nearest integer.

In line with best market practices, it is appropriate to apply the same rules for deferment and partial payment in Bank treasury shares where the variable remuneration is equal to or greater than €70,000.

Malus condition

The deferred variable component is subject to the following malus mechanisms, which reduce until reset, ex-post, the amount previously determined, according to the criteria listed in the following table (C).

		Overall Total Capital Ratio17
		<10.7%	10.7%< <11.5%	11.5%<12.5% >12.5%
Group	≥ 15%	‐100.0%	‐‐‐	‐‐‐	‐‐‐
RORAC	10.5%< < 15% ‐100.0%		‐30.0%	‐20.0%	‐10.0%
	< 10.5%	‐100.0%	‐40.0%	‐30.0%	‐20.0%

(C)

The deferred variable component is also reset if the subject has determined or contests to determine:

• a significant budget reduction for the Group (losses equal to or exceeding 5% of the net assets);
• violations of the obligations imposed under article 26, or when the subject is an interested party, of article 53, paragraphs 4 et seq., of the CBA or of obligations regarding remuneration and incentive schemes;
• fraudulent behaviour or serious negligence to the detriment of the Group;

or also where:

the Assembly has resolved the revocation of the post through just cause, that is, the Board of Directors has decided to withdraw from the working contract for just cause.

The above-mentioned criteria are audited in each of the three financial years18 following the determination of the variable component (accrual period) and are applied on occurrence of the above-mentioned conditions, taking into consideration the lower result recorded in the period of reference.

¹⁶ Period during which there is a prohibition on the sale of shares.

¹⁷ EU Regulation 575/2013 (CRR) and Directive 2013/36/EU (CRD IV). 18 A condition sufficient for application of the corrective mechanisms listed in the table is the occurrence of these same conditions in at least one of the three years of observation (accrual period).

Claw back

The Group reserves to take appropriate action for the return of the variable component recognised and/or paid to key personnel that exceeded the materiality threshold where the individual has determined or contests to determine:

• a significant annual loss for the Group19 (losses equal to or exceeding 5% of net assets);
• violations of the obligations imposed under article 26, or when the subject is an interested party, of article 53, paragraphs 4 et seq., of the CBA or of obligations regarding remuneration and incentive schemes;
• fraudulent behaviour or serious negligence to the detriment of the Group;

or also where a Group Total Own Founds Ratio20 is lower than the Overall Capital Requirement communicated by the Supervisory Body under the "Decisions on capital" at the conclusion of the supervisory review process (SREP).

Also where these criteria have occurred in each of the three closed financial years21 (accrual period) following determination of the variable component applicable on occurrence of the above conditions.

Long Term Incentive

For Heads of business units with more than €20m gross profit in the financial year 2017, an incentive can be considered that rewards consistent excellent performance over time.

Essentially, if, during the three-year period 2017-2019 (accrual period), the average of the results achieved by business units is at least 90% of those budgeted22, as at formula (D):

$$
\sum_{t=1}^{3 \text{ years}} \frac{1}{3} \frac{RORAC_{BU\,Final\,balance}{RORAC_{BU\,Budget\ t}} \ge 90\%
$$

(D)

without prejudice to the yearly passing of the minimum threshold of 80% of budget objectives set out annually, the CEO, in conjunction with the General Manager, will give a qualitative assessment on the Manager's work, which, if positive, will give rise to the payment of an incentive, defined ex ante, not exceeding 60% of the Manager's gross annual salary for 2019, and still respecting the maximum ratio of 1:1 between fixed and variable components, whose value will be paid in Parent Company shares with one-year retention period.

In addition, in view of the importance assumed by Managers with strategic responsibilities for the Group's medium to long term goals, for these individuals (excluding the General Manager, department heads and other executives with strategic responsibilities already subject to Long Term Incentive covered by other performance criteria) a performance incentive is set out for an average three-year performance during 2017-2019 (accrual period) higher than expected (MBO) and with

¹⁹ Elements that derive from extraordinary transactions will be disregarded, such as capital gains, corporate mergers, demergers, acquisitions or any other non-recurring operation that the Board of Directors may decide on and that is likely to change the value of the indicator.

²⁰ EU Regulation no. 575/2013 (CRR) and Directive 2013/36/EU (CRD IV).

²¹ A condition sufficient for application of the corrective mechanisms listed in the table is the occurrence of one of these conditions in at least one of the three years of observation (accrual period). 22 Based on the latest approved strategic plan and with 12-month timeframes.

Total Shareholder Return exceeding 20% (average share price in December 2019 compared to the average share price in December 2016).

In such a case, the CEO, in conjunction with the General Manager, will give a qualitative assessment on the Manager's work, which, if positive, will give rise to the payment of an incentive, defined ex ante, not exceeding 60% of the Manager's gross annual salary for 2019, and still respecting the maximum ratio of 1:1 between fixed and variable component, whose value will be paid in Parent Company shares with one-year retention period.

The number of shares to be assigned will be determined by taking the average market price in the month preceding the determination of Long Term Incentive as fair value, to be carried out on the date of the Shareholders' Meeting to approve the financial statement at the end of the relevant accrual period.

The number of shares is determined by rounding to the nearest integer.

Any recognition of this incentive, depending on the structure already outlined, itself aimed at ensuring a medium to long-term orientation, will not be subject to the rules for deferment, partial payment in shares and retention.

The incentives previously set out will also be recognised under the condition that the beneficiary is still in post/an employee of the Group and not working a period of notice for resignation or dismissal, except for retirement or placement in the solidarity fund.

Ban on hedging strategies

It is strictly forbidden for individual employees to execute hedging strategies on remuneration or on other aspects that may alter or affect the alignment effects on business risk inherent in the remuneration mechanisms envisaged.

Remuneration of agents in financial activities

Within the category of employees not subject to employment contracts, particular importance is attached to Financial Agents. The group uses an external distribution network for recovery, both in and out of Court, of distressed loans and, following the recent acquisition of the ex GE Capital Interbanca Group, a network of agents for promoting leasing products.

The remuneration of individuals involved in the recovery of distressed loans, both in and out of Court, is contractually defined comprising a non-recurring component determined ex ante with an incentivising value, and a recurring component.

Furthermore, in accordance with the Bank of Italy's Supervisory Provisions:

• the aggregate amount of the "non-recurring" component awarded to agents is linked (the so-called Bonus Pool) to the occurrence of the Bank's liquidity and financial circumstances identified annually in the remuneration report (gate);
• criteria were identified for the ex post correction of "non-recurring" remuneration for each individual based on indicators deemed relevant for both the correctness of assigned tasks and for regulatory compliance and for respecting the behavioural principles defined by the Bank, particularly with customers; to contain legal and reputational risks that the Bank may suffer, as well as to promote regulatory compliance and to ensure the protection and loyalty of clients.

The Parent Company aligns remuneration for financial agents involved in promoting leasing products, respecting the principles and reasoning described above. Where necessary, the Parent Company's objective is to encourage appropriate compliance action.

Other types of employees

For remaining employees, during the annual assessment provided for by the Collective Labour Agreement, the CEO and/or the Directorate General may provide one-off payments up to a maximum of three months. This premium, except where set out by the access conditions (gate) set out above, are aimed at rewarding excellent performance and/or particular or evident quality.

In the absence of a supplementary company agreement, the Parent Company's Board of Directors can decide on payment of "corporate award" applicable to its employees, determining its measure and criteria.

The variable remuneration system for the sales network is defined by the CEO and communicated to the Board of Directors.

Remuneration of non-employee collaborators

The Group may also use non-employee collaborators whose relationships can largely be grouped into two contractual forms:

• consultancy contracts;
• project contracts.

For consultancy contracts appointments can be awarded ad personam with the contents of the consultancy activity, the fee (or the criteria for determining the same) and its method of payment.

Project contracts may be concluded with persons to whom is entrusted, without any bond of subordination, the task of realising certain specific projects with definition of the contents, the results expected and the implementation time.

The remuneration for these types of contract is determined in close connection with the profit derived from the work of those offering their services considering the professionalism of staff, the complexity of the service and the market rates of reference.

4. Non-monetary benefits

The Company organs and employees may enjoy certain benefits, having different gradation in relation to the corporate role and/or to the service reasons, with reference to: health policy, occupational and non-occupational accident policy, company car and service accommodation.

The attribution is summarised as follows:

• health policy (for all full- and part-time employees with an employment contract and with some exceptions attributable to contractual situations previously acquired);
• occupational and non-occupational accident policy for all employees;
• life policies (applicable only to Parent Company executives and to all employees of subsidiaries);
• permanent disability policy (applicable to all employees of subsidiaries);
• ticket restaurant (for all employees, varying from €5.29 to €7.40);
• company cars (for some individuals based on prevailing internal policies);

corporate contributions to supplementary pension provision (for all permanent employees, with percentages varying from 1.5% to 4% of gross annual salary and/or based on salaries for post-employment benefit purposes (subject to certain contractual situations previously acquired);

The allocation of service accommodation is limited to only a few cases.

The above benefits, where applicable for all employees, are not considered discretional.

5. Payment provided in case of cessation from the assignment or termination of the employment relationship

As a general rule, the Group's companies does not enter into agreements that govern ex-ante the possible early termination of the relationship upon the initiative of the Company or of the individual (Golden Parachutes), (including cases of early termination of employment or due to its nonrenewal) without prejudice, in any case, to the obligations of the law and/or of the Collective Labour Agreement.

The following are not considered parachutes: payments and disbursements due under law and by collective agreement or based on transactions carried out under and within the limits of these institutions and to avoid the risk of objectively justified judgement.

In the event that these "parachutes" are approved, they are subject to the claw back conditions cited above to occur in each of the three closed financial years23 following the (accrual period) and applied on occurrence of the conditions mentioned above.

The description of the performance objectives according to which the variable components of remuneration are assigned, reference is made to the criteria defined for the determination of the variable remuneration of the CEO, of the General Manager, of other key personnel and the mechanisms that combine the trend of the variable remuneration with the variation of the results achieved.

6. Implementation of Policies in subsidiaries

This document regarding the implementation of the compensation and incentive policies, drawn up by the Parent Company applies to all subsidiaries, therefore they are not required to draft their own documents

Each subsidiary company, in line with the directions as supplied by the Parent Company, submits this document or an extract from it to its own strategic supervisory body. This body is responsible for its proper implementation in the subsidiary and will ensure that this remuneration and incentive policy is adequately documented and accessible within the corporate structure;

In applying regulatory provisions, Interbanca will also submit to its Shareholders' Meeting: the remuneration plans based on financial instruments (e.g. stock options) and the criteria for determining the compensation to be granted in the event of early termination of the employment relationship or early termination of office including the limits established in that compensation in terms of annuities of fixed remuneration and the maximum amount that results from their application.

23 A condition sufficient for application of the corrective mechanisms listed in the table is the occurrence of one of these conditions in at least one of the three years of observation (accrual period).

SECTION II

1. Part One

1.1 Entries that compose the remuneration

Regarding the directors, statutory auditors, members of the Risk Management Committee, Assignment Committee, Remuneration Committee and Supervisory Board, the following details are provided on the items included in remuneration and that, for the financial year 2016, are summarised in the following Table 1.

In the "fixed remuneration" column the following are illustrated, according to a competence criteria and, where necessary, reporting the amount at its effective date

• in the relevant section the compensation set out for the post of director is €25,000 for each member of the Board of Directors, €105,000 for the President of the Board of Statutory Auditors, €70,000 for the effective auditors, in accordance with the resolution adopted by the Shareholders' Meeting of 22nd March 2016;
• in the relevant section, the total amount of attendance allowances paid to directors and auditors, according to the rules established by the Shareholders' Meeting of 22nd March 2016, for participation in subsequent meetings of the Board of Directors during 2016;
• in the relevant section "lump sum expenses" the amount possibly invoiced in the form of a flat-rate sum of the costs incurred due to their appointment as directors and statutory auditors;
• in the relevant section, the fees for certain posts approved by the Board of Directors pursuant to former art. 2389 of the Italian Civil Code due to the President, Vice President and CEO;
• finally, in the section "fixed remuneration from the work of employees", the annual remuneration for the General Manager and other employees who, during the financial year, have held, even for a fraction of the year, the position of director with strategic responsibility, is indicated, shown gross of social security and tax deductions borne by the employee, excluding the required collective social security charges paid by the company and the severance pay provision.

In the Fees for Participation in Committees column, the fees, possibly related to the effective date of appointment, assigned to other directors vested with special offices and established by the Board of Directors of 22nd March 2016 are listed in the following amounts:

• the President of the Risk Management and Internal Control Committee, a fixed annual compensation for the post equal to €75,000;
• for the other members of Risk Management and Internal Control Committee, an annual fixed fee for this office of €45,000;
• for members of the Remuneration Committee, an annual fixed fee for this post in the amount of €5,000;
• for the members of Appointments Committee, an annual fixed fee for this office of €5,000;
• for the President of the Supervisory Body pursuant to Legislative Decree 231/2001, a fixed annual fee for that office equal to €25,000;

for the other directors who make up the Supervisory Body pursuant to Legislative Decree 231/2001, a fixed annual remuneration for this post equal to €10,000.

The variable portion of the CEO's and General Manager's remuneration acquired in relation to the profit for the year 2016 is indicated in the section "participations in profit" of the "variable non-equity remuneration" column and payment is conditional upon verification of compliance with the conditions established in the remuneration policy.

Any bonuses and other incentives earned, for the work in 2016, by directors with strategic responsibilities are shown in the section "bonuses and other incentives" of the "variable non-equity remuneration" column. In that section, the "corporate award" for the General Manager and for other directors with strategic responsibility is also indicated. This award was established by the collective labour agreement in force and approved by the Board of Directors in favour of employees at the meeting of 28th November 2016, despite the absence of supplementary company agreement.

The "non-monetary benefits" column shows the value of the following fringe benefits, generally according to a criterion of tax liability:

• health policy (for all full- and part-time employees with an employment contract and with some exceptions attributable to contractual situations previously acquired);
• occupational and non-occupational accident policy for all employees;
• life policies (applicable only to Parent Company executives and to all employees of subsidiaries);
• permanent disability policy (applicable to all employees of subsidiaries);
• luncheon vouchers (for all employees, varying from €5.29 to €7.40);
• company cars (for some individuals based on prevailing internal policies);
• corporate contributions to supplementary pension provision (for all permanent employees, with percentages varying from 1.5% to 4% of gross annual salary and /or based on salaries for post-employment benefit purposes (subject to certain contractual situations previously acquired);
• attribution of service accommodation (for 13 staff over the financial year).

For the Managers with strategic responsibility identified for 2016 (5 managers as of 31/12/2016), the information is provided in aggregate form with an indication of the number of persons to which it refers (this involves 6 managers who, during the year, have held this position, even for part of the year).

1.2 Further information on the consistency of fees with the remuneration policy

Consistent with the report provided to the Shareholders' Meeting of 22nd March 2016 regarding implementation of the remuneration policies approved the previous year, (the relevant documentation is available on the website of the Bank in the section "Corporate governance" > path > Shareholders' Meeting > 2016) together with the minutes of the Shareholders' Meeting of 22nd March 2016, pursuant to article 125 d of the Consolidated Finance Act), we provide - in addition to what is already stated in other parts of this Report - some further concise information on the implementation, in 2016, of the policies approved one year ago.

Executives (not included in the definition of managers with strategic responsibilities)

The average ratio between the variable proficiency component for 2016, for managers who received it, and fixed remuneration for 2016 amounted to 27.99%.

Middle Management and Professional Areas that hold commercial roles

The average ratio between variable component and fixed remuneration for 2016 was 19.39%.

Other Middle Management and Professional Areas

For 2016, bonuses were paid equal to 7.58% of the workforce with an average amount equal to 7.87% of Gross Annual Salary.

Other information

For completeness of information and regarding the entire company workforce, the following is also pointed out:

• salary increases were given to 6.16% of the company workforce with an average increase in Gross Annual Salary of 13.87%;
• promotions (increase in rank) were given to 19.88% of the company workforce;
• in 2016, the Gross Annual Salary underwent a gross increase (inclusive of inflation rate and contractual increases) of 3.24%;
• at the end of 2016 there was a project collaboration relationship;
• during 2016, a further 5 stability agreements were formalised with employees that hold commercial roles (the total number of stability agreements as of 31/12/2016 is now 18).

Group Companies

(a) IFIS FINANCE Sp. z o.o.

The emoluments paid to directors and employees of the Polish subsidiary, IFIS Finance Sp. z o.o. are consistent with the parameters of the Group remuneration and incentive scheme. In particular:

• 1. The mandate of the directors was carried out:
• by a manager of the Parent Company free of charge and thus without the need to repay the emoluments for appointments held by employees of the Parent Company;
• by the Vice President of the Parent Company who has carried out the mandate free of charge.
• 1. a company bonus equal to one month's salary, paid with December 2016 salary, linked to the working period in the year, was paid to the staff in post as at 31/12/2016, whose employment relationship would continue into 2017 and with at least three months' company seniority;
• 1. four individuals were paid a variable component according to a model like that used by the Parent Company for the commercial network incentive system;
• 1. the total amount of remuneration attributed to staff at 31/12/2016 (no. 12 persons) amounted to €304,128.

b. INTERBANCA S.p.A. and ITS SUBSIDIARIES TO 31/12/2016 (IFIS LEASING, IFIS FACTORING, IFIS RENTAL SERVICES)

Introduction

The remuneration policy (also "Compensation Policy") adopted by the Shareholders' Meeting on 29 April 2016, was defined and implemented by the previous General Electric management until November 30, 2016, at which date GE Capital Interbanca Group was acquired by the Banca IFIS Banking Group.

This final report, therefore, with particular reference to the quantitative data in it, will take account of the change in ownership and the consequent changes in the corporate structure from that date.

Implementation of 2016 remuneration policies for Material Risk Takers

1. Material Risk Takers and the consequences related to transition to new ownership.

There were 26 Material Risk Takers (that is, the key personnel, also "MRT") in 2016 including the members of the Board of Directors whose mandate ceased on 30th November 2016.

It should be noted that the Chief Risk Officer, Chief Compliance Officer, the Factoring Managing Director, the Chief Operations Officer and the Chief Financial Officer (the latter was not a Bank employee but a separate officer from a GE company based abroad) also left on the same day the Bank passed to new ownership.

The HR Director and the General Manager ceased their employment relationship with the Bank on 31st December 2016.

The Internal Audit Leader's powers were revoked on entry into new ownership.

The Factoring Credit Leader resigned during the year and was not replaced, as the powers of this post were transferred to the Parent Company's Chief Risk Officer, already included as MRT.

The Pricing Leader, also resigned during the year, and was replaced by the Pricing Manager.

2. Implementation of Role Based Allowances for MRT Control Function Managers were part of the Executive Band.

For the financial year 2016, two MRT, Control Functions managers who were classified as Executive Band (under previous General Electric management structure), the Chief Risk Officer and the Human Resources Director, were given the Role Based Allowance or role allowance.

Both MRT voluntarily ended their employment relationship with the Bank on 30/11/2016 and 31/12/2016 respectively.

3. Retention plans

Confirmation of the retention bonus for 2016, already introduced in 2015, with the aim of retaining key resources during the sale process ended only at 30th November 2016.

The variable remuneration (retention bonuses included) for MRT who were not Managers of Control Functions in post at the time of its payment, was paid in respect of the limit of 1:2 between fixed and variable remuneration components as required by the prevailing Compensation Policy.

Aggregated data on fixed salary, variable remuneration and on retention regarding the financial year 2016 are presented in "Other tables" in the second part of this report.

4. Severance Packages (Annex C to the Compensation Policy 2016)

In view of the acquisition of the GE Capital Interbanca Group by the Banca IFIS Banking Group and of the new corporate structure, 6 MRT employment relationships were resolved voluntarily (including the General Manager and Chief Executive Officer) as of 30th November 2016 and 31st December 2016.

In line with the provisions of Appendix C to the Compensation Policy of the then GE Capital 2016 Interbanca S.p.A., specifically approved by the Shareholders' Meeting of 29th April 2016, all amounts individually paid were defined within the salary provided for in the CCNL [National Collective Labour Agreement] for executives of credit, financial and instrumental businesses and are subject to the claw back clause for a period of 5 years after termination of employment.

Please note that these sums were not subject to deferment because, as well as being defined within the scope of the contract, they were paid with a view to avoiding litigation.

Remuneration Committee meetings

In 2016, the Committee met seven times. The average duration of a meeting was around an hour. The Committee did not make use of the services of external consultants.

The Committee consisted of the President of the Board of Directors, Ugo Draetta, and two independent directors, Mario Garraffo and Marco Giorgino.

The Director, Mario Garraffo, participated in 5 of the seven meetings and Director, Marco Giorgino, in six.

The role of Secretary was carried out by the HR Director, Adriana Paolone.

During 2016, it was not necessary to make specific financial resources available to the Committee for the performance of its duties.

The above-mentioned Remuneration Committee ceased with the takeover by Banca IFIS on 30th November 2016.

Quantitative data relating to 2016 remuneration policies.

For details of quantitative data, please refer to "Other tables" (in the second part of this report).

We should start by saying that implementation of the incentivising remuneration work is expected in April 2017.

Consequently, aggregate quantitative data reported in the corresponding table entries are shown based on the assessments made to date, and the provisions made.

Finally, for 2016, in consideration of the sale, deferment of the variable part of remuneration will be made only in "cash".

The total expected variable remuneration outlay is financially viable if we consider the individual regulatory capital of Interbanca S.p.A. (formerly GE Capital Interbanca S.p.A. and Parent Company of the former GE Capital Interbanca Banking Group S.p.A.) at 31st December 2016 equal to €865 million and the CET1 ratio of 37.4%.

Deferred amounts will still be subject to a sustainability check and to malus and/or claw back provisions.

Compensation for members of the Board of Directors and Auditors

There are no fees for members of General Electric's Board of Directors, although the variable portion of their pay is tied to the results of the GE Capital Interbanca Banking Group.

The total fees for Interbanca S.p.A.'s two independent directors amounts to €165,000.00 (including remuneration for Committee assignments within the Board of Directors) and the remuneration of the President of the Board of Directors amounted to €82,500.00 (including remuneration for Committee assignments within the Board of Directors).

It should be noted that remuneration for 2016, was calculated from January to November 2016.

For 2016, there are no fees for Board members who have been mandated by the new owner. This also applies for Board members of Interbanca S.p.A.'s subsidiaries as at 31st December 2016 who, as employees of GE and, from 30th November 2016, employees of Banca IFIS S.p.A., have not drawn any remuneration.

The total 2016 remuneration for the Board of Statutory Auditors is equal to €222,500.00, of which €11,667.00 is for Auditors entering post from 1st December 2016. Regarding remuneration for the Auditors of subsidiaries of Interbanca S.p.A., as at 31st December 2016, there is a total amount for the three companies of €256,916.67, of which €17,500.00 for the Auditors entering in post from 1st December 2016.

All the above amounts, which do not include other expenses (VAT, Lawyers Provident Fund), are in line with what was approved by the relevant Shareholders' Meetings.

2. Part two: remuneration paid in 2016

Table 1: remuneration paid to members of the administration and audit bodies, to the general managers and to the other executives with strategic responsibilities (figures in thousands of euro)

						Fixed rem uner	ation			Non‐ equit	iable ion nerat y var remu
and S Name urnam e	intm Appo ent	Perio dur d ing w hich t he posit ion w as he ld	Posit ion e nd da te	Appo intm ent allow ance s oved by appr the Share holde rs' Meet ing	Atten danc e toke ns	Lump ‐sum expe nse reim burse ment	Remu ion for nerat ial dutie spec s ant to a rt. pursu of th lian 2389 e Ita Civil Cod e	Empl oyee fixed ion nerat remu	Remu nerat ion for parti cipat ion in ittee comm s	Bonu nd ses a othe r incen tives	Profi sha ring t	Non‐ tary mone bene fits	Othe r ion nerat remu	Total	Fair valu of e quity e ion nerat remu	Appo intm ents evera nce p ay or empl rmin ation fee nt te oyme
Seba stien Ego n Fürst enbe rg	Chair man	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to 31/12 /18
	Rem ratio at une n	Ban ca IF IS S. p.A.			‐ 25		650							675	n.a.	‐
	ratio fr Rem B une n om	ubs idia IFIS S.p. A. s anca	ries											‐	n.a.	‐
		Tota l			‐ 25	‐		‐ 650	‐	‐	‐	‐	‐	675	n.a.	‐
Aless andro Csill aghy De Pacse r	Depu ty Ch airma n	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to 31/12 /18
	Rem ratio at une n	Ban ca IF IS S. p.A.			‐ 25		500							525	n.a.	‐
	ratio fr Rem B une n om	ubs idia IFIS S.p. A. s anca	ries											‐	n.a.	‐
		Tota l			‐ 25	‐		‐ 500	‐	‐	‐	‐	‐	525	n.a.	‐
Giov anni Boss i	CEO	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to 31/12 /18
	Rem ratio at une n	Ban ca IF IS S. p.A.			‐ 25		650				650			1.32 5	n.a.	‐
	fr ubs Rem ratio B IFIS S.p. A. s idia ries une n om anca												‐	n.a.	‐
	l Tota				‐ 25	‐		‐ 650	‐	‐		‐ 650	‐	1.32 5	n.a.	‐

						Fixed rem uner	ation			Non‐ equit	iable ion nerat y var remu
				Appo intm ent allow	Atten danc e toke	Lump ‐sum	Remu ion for nerat ial dutie	Empl oyee fixed		Bonu nd ses a	Profi sha ring t
and S Name urnam e	intm Appo ent	Perio dur d ing w hich t he	Posit ion e nd da te	ance s oved by appr	ns	expe nse reim burse ment	spec s ant to a rt. pursu	ion nerat remu	Remu nerat ion for	othe r		Non‐ tary mone	Othe r	Total	Fair valu of e quity e	Appo intm ents evera nce p ay or
		posit ion w as he ld		the			of th lian 2389 e Ita		parti cipat ion in ittee comm s	incen tives		bene fits	ion nerat remu		ion nerat remu	empl rmin ation fee nt te oyme
				Share holde rs'			Civil Cod e
				ing Meet
	Board Direc tor	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to	25	26	9								60
			31/12 /18
	Presid isk M & int ernal ent R ment anage	from 1/1/20 16 to 31/12 /2016	val o f the financ ial sta Appro temen ts to
Giuse ppe B enini	Contr ol Co mmitt ee		31/12 /18						68					68
	Presid ent N omina tions Comm ittee	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to
			31/12 /18						4					4
			Appro val o f the financ ial sta temen ts to
	Mem ber of Supe rvisor y Bod y	1/1/20 31/12 /2016 from 16 to	31/12 /18	13										13
	ratio Rem at une n	Ban ca IF IS S. p.A.		38	26		‐ 9	‐		‐ 72	‐	‐	‐	146	n.a.	‐
	Rem ratio fr B une n om	IFIS S.p. A. s ubs idia	ries											‐	n.a.
	anca															‐
		l Tota		38	26		‐ 9	‐		‐ 72	‐	‐	‐	146	n.a.	‐
	Board Direc tor	1/1/20 31/12 /2016 from 16 to	Appro val o f the financ ial sta temen ts to 31/12 /18	25	25	9								59
Franc Made esca rna	Mem ber o f Risk Mana nt & Intern al geme	from 1/1/20 31/12 /2016 16 to	Appro val o f the financ ial sta temen ts to						42					42
	Contr ol Co mmitt ee		31/12 /18
	Presid ent R eratio n Com mittee emun	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to						4					4
			31/12 /18
	Rem ratio at une n	Ban ca IF IS S. p.A.		25	25		‐ 9	‐		‐ 46	‐	‐	‐	104	n.a.	‐
	fr Rem ratio B une n om anca	ubs idia IFIS S.p. A. s	ries											‐	n.a.	‐
		l Tota		25	25		‐ 9	‐		‐ 46	‐	‐	‐	104	n.a.	‐
	Board Direc tor		Appro val o f the financ ial sta temen ts to
		from 2 2/3/20 16 to 31/12 /2016	31/12 /18	19	19	8								46
Anto nella Malin conic o	ber o f Risk al Mem Mana nt & Intern geme		val o f the financ ial sta Appro temen ts to
	Contr ol Co mmitt ee	from 2 2/3/20 16 to 31/12 /2016	31/12 /18						35					35
				19	19									81
Rem ratio Ban ca IF IS S. p.A. at une n							‐ 8	‐		‐ 35	‐	‐	‐		n.a.	‐
	fr Rem ratio B une n om anca	ubs idia IFIS S.p. A. s	ries											‐	n.a.	‐
		Tota l		19	19		‐ 8	‐		‐ 35	‐	‐	‐	81	n.a.	‐
	Board Direc tor	from 1/1/20 16 to 31/12 /2016	val o f the financ ial sta Appro temen ts to	25	24	14								64
			31/12 /18
Ricca rdo P reve	Mem ber of Nom ination s Com mittee	1/1/20 31/12 /2016 from 16 to	Appro val o f the financ ial sta temen ts to						4					4
			31/12 /18
	Mem ber of Rem tion C ommi ttee unera	22/3/2 31/1 2/201 from 016 to 6	Appro val o f the financ ial sta temen ts to						4					4
			31/12 /18
	ratio Rem at une n	Ban ca IF IS S. p.A.		25	24		‐ 14	‐		‐ 8	‐	‐	‐	71	n.a.	‐
	Rem ratio fr B une n om anca	IFIS S.p. A. s ubs idia	ries											‐	n.a.	‐
		l Tota		25	24		‐ 14	‐		‐ 8	‐	‐	‐	71	n.a.	‐
	Board Direc tor		Appro val o f the financ ial sta temen ts to
Marin a Sal amon		from 1/1/20 31/12 /2016 16 to	31/12 /16											‐
	Rem ratio	Ban ca IF IS S.		25	23									49
	at une n	p.A.					‐ 1	‐	‐	‐	‐	‐	‐		n.a.	‐
	fr Rem ratio B une n om anca	IFIS S.p. A. s ubs idia	ries											‐	n.a.	‐
		l Tota		25	23		‐ 1	‐	‐	‐	‐	‐	‐	49	n.a.	‐
	Board Direc tor	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to	25	25									50
			31/12 /18
	Mem ber o f Risk Mana nt & Intern al geme	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to						42					42
	Contr ol Co mmitt ee		31/12 /18
Danie le Sa ntosu osso	Mem ber of Nom ination s Com mittee	from 1/1/20 16 to 31/12 /2016	val o f the financ ial sta Appro temen ts to						4					4
			31/12 /18
	Mem ber of Rem tion C ommi ttee unera	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to						4					4
			31/12 /18
	Mem ber of Supe rvisor y Bod	1/1/20 31/12 /2016 from 16 to	Appro val o f the financ ial sta temen ts to
	y		31/12 /18	10										10
	Rem ratio at Ban ca IF IS S. p.A. une n			35		‐ 25	‐	‐		‐ 49	‐	‐	‐	109	n.a.	‐
	Rem ratio fr B une n om anca	IFIS S.p. A. s ubs idia	ries											‐	n.a.	‐
		Tota l		35		‐ 25				‐ 49				109	n.a.
							‐	‐			‐	‐	‐			‐

						Fixed rem uner	ation			Non‐ equit	iable ion nerat remu
				Appo intm ent	Atten danc e	Lump ‐sum	Remu nerat ion for	Empl oyee		Bonu nd ses a	y var Profi sha ring t
Name and S urnam e	Appo intm ent	Perio dur d ing w hich t he	Posit ion e nd da te	allow ance s	toke ns	expe nse	ial dutie spec	fixed s	ion for Remu nerat	othe r		Non‐ tary mone	Othe r	Total	Fair valu of e quity e	intm Appo ents evera nce p ay or
		posit ion w as he ld		oved by appr the		reim burse ment	ant to a rt. pursu 2389 of th e Ita lian	nerat ion remu	parti cipat ion in ittee comm s	incen tives		bene fits	ion nerat remu		ion nerat remu	empl rmin ation fee nt te oyme
				Share holde rs'			Civil Cod e
				ing Meet
Giaco mo B ugna	Chair f the B oard o f Statu tory man o Audito rs	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to 31/12 /18
	Rem ratio at une n	Ban ca IF IS S. p.A.		99	21	8								127
Rem ratio fr une n	(d irec d in dire ct) S ubs t an om	idia ries of B IFIS anca	1/12 /201 S.p. A. ( peri od 0 6 to	13		1								13	n.a. n.a.	‐
		l Tota		111	21		‐ 9							141	n.a.	‐
	Stand ing st atutor y aud itor		Appro val o f the financ ial sta temen ts to					‐	‐	‐	‐	‐	‐			‐
Giov Cirio tto anna		1/1/20 31/12 /2016 from 16 to	31/12 /18
	Rem ratio at une n	Ban ca IF IS S. p.A.		66	19									84	n.a.	‐
fr Rem ratio une n	(d d in dire ct) S ubs irec t an om	idia of B ries IFIS anca	A. ( od 0 1/12 /201 S.p. peri 6 to	8										8	n.a.	‐
		l Tota		74		‐ 19	‐	‐	‐	‐	‐	‐	‐	92	n.a.	‐
Piera Vita li	Stand ing st atutor y aud itor	from 1/1/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to
			31/12 /18
	Rem ratio at une n	Ban ca IF IS S. p.A.		‐										‐	n.a.
Rem	fr (d d in ratio irec t an une n om	dire ct) S ubs idia of B ries	IFIS S.p. A. anca	8										8	n.a.
		l Tota		3										8	n.a.
Mass imo M iani	Stand ing st atutor y aud itor	from 2 2/3/20 16 to 31/12 /2016	Appro val o f the financ ial sta temen ts to 31/12 /18
Rem ratio Ban ca IF IS S. p.A. at une n			54	14									68	n.a.	‐
	ratio fr Rem B une n om	ubs idia IFIS S.p. A. s anca	ries											‐	n.a.	‐
		Tota l		54		‐ 14	‐	‐	‐	‐	‐	‐	‐	68	n.a.	‐
	Presid ent of Supe rvisor y Bod y	1/1/20 21/03 /2016 from 16 to	Appro val o f the financ ial sta temen ts to 31/12 /18	25										25
Andr rtin ea Ma	Direc tor	1/1/20 22/03 /2016 from 16 to	Appro val o f the financ ial sta temen ts to 31/12 /15	6	6									12
	Mem ber o f Risk Mana nt & Intern geme Contr ol Co mmitt ee	al from 1/1/20 22/03 /2016 16 to	Appro val o f the financ ial sta temen ts to 31/12 /15						7					7
	Mem ber of Rem tion C ommi ttee unera	from 1/1/20 16 to 22/03 /2016	Appro val o f the financ ial sta temen ts to 31/12 /15
	Rem ratio at une n	Ban ca IF IS S. p.A.		31		‐ 6	‐	‐		‐ 7	‐	‐	‐	44	n.a.	‐
	fr Rem ratio B une n om	ubs idia IFIS S.p. A. s anca	ries											‐	n.a.	‐
		l Tota		31		‐ 6	‐	‐		‐ 7	‐	‐	‐	44	n.a.	‐
Maur o Ro vida	Stand ing st atutor y aud itor un til 21/ 03/20	16 fro m 1/1 /2016 to 21 /03/20 16	val o f the financ ial sta Appro temen ts to 31/12 /15
	Rem ratio at une n	Ban ca IF IS S. p.A.		11	4									15	n.a.	‐
	ratio fr Rem B une n om	ubs idia IFIS S.p. A. s anca	ries											‐	n.a.	‐
		Tota l		11		‐ 4	‐	‐	‐	‐	‐	‐	‐	15	n.a.	‐
Albe rto S taccio ne	Gene ral Ma nager	from 1/1/20 16 to 31/12 /2016	n.a.
	Rem ratio at une n	Ban ca IF IS S. p.A.						308		26	185	17		536	n.a.	‐
	fr Rem ratio B une n om	IFIS S.p. A. s ubs idia anca	ries											‐	n.a.	‐
		l Tota			‐ ‐	‐	‐	308	‐	26	185		‐ 17	536	n.a.	‐
Oth er ex	ives wi th gic r ecut st rate esp	ibili ties (five ons peo	1/12 /201 ple at 3 6)
	Rem ratio at une n	Ban ca IF IS S. p.A.						646		318		20		984	‐	151
	ratio fr Rem B une n om	IFIS S.p. ubs idia A. s anca	ries											‐	n.a.	‐
		Tota l			‐ ‐	‐	‐	646	‐	318	‐		‐ 20	984	n.a.	‐

Other tables: monetary incentive plans for members of the administration and audit bodies, to the general managers and to

the other executives with strategic responsibilities

From the tables set out in Annex 3A, Scheme No. 7 b, of the "Issuers' Regulations", the tables 3A and 3B that are shown below with data from participation in the profit expected for the Managing Director and the General Manager are currently applicable to the Banca IFIS Group.

TABLE 3A

Financial instruments vested during the year and not allocatedFinancial instruments relating to the year (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) Surname and First Name Appointment Plan Number and type of financial Vesting period Number and type of financial Fair value at allocation date Vesting period Date of allocation Market price upon allocation Number and type of financial Number and type of financial instruments Value on the maturation date Fair value Bossi Giovanni CEO2014 Plan Resolution of 17/04/2014* 10664 3 - - - - - - 6.695 129.991,33 19,42 2015 Plan Resolution of 08/04/2015*4517 3 - - - - - - 7.243 194.990,98 26,92 2016 Plan Resolution of 22/03/2016** ** **2014 Plan - - - - - - - - - - -2015 Plan2016 Plan - - - - - - - - - - - 15.181 - - - - - - 13.938 324.982,30 Staccione AlbertoGeneral Manager 2014 Plan Resolution of 17/04/2014*3021 3 - - - - - - 1.897 36.832,49 19,42 2015 Plan Resolution of 08/04/2015*1280 3 - - - - - - 2.052 55.242,51 26,92 2016 Plan Resolution of 22/03/2016** ** **2014 Plan - - - - - - - - - - -2015 Plan - - - - - - - - - - -2016 Plan 4.301 - - - - - - 3.949 92.075,00 Remuneration from Banca IFIS S.p.A. subsidiaries (1) Remuneration from Banca IFIS S.p.A. subsidiaries Financial instruments vested during the year that can be allocatedFinancial instruments allocated in previous years non vested during the year Financial instruments allocated during the year (A) (B) TotalRemuneration at Banca IFIS S.p.A. Remuneration at Banca IFIS S.p.A. Total

TABLE 3A Incentive plans based on financial instruments other than stock options for members of the Board, for general managers and for the other executives with strategic responsibilities

(*) The number of shares is determined by the market price on the date of assignment. Said number will be recalculated at the moment of payment.

(**) The data of assignable shares with reference to the incentive attributed regarding the year 2016 results will be available following the resolutions of the Ordinary Shareholders' Meeting convened on 21/04/2017

TABLE 3B

TABLE 3B Monetary incentive plans for members of the Board, for general managers and for other executives with strategic responsibilities

( A)	( B)	( 1)		( 2)			( 4)
Su d F irs t				An al b nu on us		Bo	f p iou nu s o rev s y ea	rs
rna me an Na	int Ap nt po me	Pla n	( A)	( B)	( C)	( A)	( B)	( C)	Ot he r b on use s
me			Pa ble /pa id ya	De fer red	Pe riod of def al err	No lon ble ger pa ya	Pa ble /pa id ya	De fer red ain ag
Bo ssi G iov ni an	CE O
IS S Re atio t B a IF A. mu ner n a anc .p.		20 13- 20 14- 20 15 Pla ns	-	-	-	-	26 0.0 00	650 .00 0	-
		20 16 Pla n R luti eso on of 2 2/0 3/2 016	390 .00 0	260 .00 0	3	-	-	-	-
Re atio n fr Ba mu ner om	IF IS S A. nca .p.	20 15 Pla n	-	-	-	-	-	-	-
sub sid iari es		20 16 Pla n	-	-	-	-	-	-	-
To tal			390 .00 0	260 .00 0	3	-	260 .00 0	650 .00 0	-
Sta cci e A lbe rto on	Ge al M ner ana ger
		20 13- 20 14- 20 15 Pla ns	-	-	-	-	73. 658	184 .14 5	-
IS S Re atio t B a IF A. mu ner n a anc .p.		20 16 Pla n R luti eso on of 2 2/0 3/2 016	111 .02 3	74. 016	3	-	-	-	-
n fr Re atio Ba mu ner om	IS S IF A. nca .p.	20 15 Pla n	-	-	-	-	-	-	-
sub sid iari es		20 16 Pla n	-	-	-	-	-	-	-
To tal			111 .02 3	74 .01 6	3	-	73. 658	184 .14 5	-

Scheme relating to the shareholdings of directors, statutory auditors, of the general manager and of the other managers with strategic responsibilities

Table 1: shareholdings of members of the organs of administration and audit and of the general managers

Surname and first name	Appointment	Investee company	Number of shares owned at the end of the previous year	Number of shares purchased	Number of shares sold	Number of shares owned at the end of the current year
Fürstenberg Sebastien Egon (including shares held indirectly through La Scogliera S.p.A.)	President	Banca IFIS S.p.A.	26,974,036	52,811	0	27,026,847
Csillaghy Alessandro	Vice President	---	---	---	---	---
Bossi Giovanni	Chief Executive Officer	Banca IFIS S.p.A.	1,845,343	7,243	0	1,852,586
Benini Giuseppe	Director	---	---	---	---	---
Maderna Francesca	Director	Banca IFIS S.p.A.	1,070,422	0	0	1,070,422
Martin Andrea	Director	---	---	---	---	---
Preve Riccardo (including shares held indirectly through Preve Costruzioni S.p.A.)	Director	Banca IFIS S.p.A.	1,250,168	2,000	- 10,000	1,242,168
Salamon Marina (held indirectly through Alchimia S.p.A.)	Director	Banca IFIS S.p.A.	1,076,247	0	0	1,076,247
Santosuosso Daniele	Director	---	---	---	---	---
Bugna Giacomo	President - Board of Statutory Auditors	---	---	---	---	---
Ciriotto Giovanna	Standing statutory auditor	---	---	---	---	---
Rovida Mauro	Standing statutory auditor	---	---	---	---	---
Staccione Alberto	General Manager	Banca IFIS S.p.A.	141,897	2,052	0	143,949

* the assigning of Banca IFIS treasury shares as part of the variable remuneration in pursuance of the remuneration and incentive policies approved by the Shareholders' Meeting

Table 2: shareholdings of other managers with strategic responsibilities

Number of managers with strategic responsibilities	Investee company	Number of shares owned at the end of the previous year	Number of shares purchased	Number of shares sold	Number of shares owned at the end of the current year
5	Banca IFIS S.p.A.	---	---	---	---

Other tables

AGGREGATE QUANTITATIVE INFORMATION FOR BANCA IFIS S.p.A. BUSINESS LINE
BUSINESS LINES	NUMBER	GROSS ANNUAL SALARY	GROSS VARIABLE ANNUAL SALARY
B.U. Credi Impresa Futuro + B.U. Internazionale	324	11.187.795,07	1.809.049,27
B.U. Pharmacies	11	660.098,46	51.201,66
B.U. NPL	120	3.328.958,46	502.738,65
B.U. PHARMA	11	588.738,84	76.941,65
B.U. Retail	21	471.072,18	39.774,90
BU Tax Credits	25	1.026.012,65	269.810,40
General Directorate ‐ Control Functions	48	2.040.456,58	341.025,39
General Directorate ‐ Staff and support structures	328	10.748.558,13	1.303.835,50
TOTAL	888	30.051.690,37	4.394.377,42

AGGREGATE QUANTITATIVE INFORMATION PER BUSINESS LINE IN SUBSIDIARY COMPANIES (INTERBANCA, IFIS LEASING, IFIS FACTORING, IFIS RENTAL SERVICES)
BUSINESS LINES	Number	GROSS ANNUAL SALARY	GROSS VARIABLE ANNUAL SALARY
General Directorate ‐ Staff and support structures to 31/12/2016			242 11.328.690,45 1.042.969,11
General Directorate ‐ Control Functions to 31/12/2016			28 1.798.716,08 347.350,21
IFIS Factoring Retail Banking/Factoring to 31/12/2016			35 1.738.985,60 242.097,34
B.U. Interbanca ‐ Commercial Lending to 31/12/2016			14 976.292,71 152.654,11
B.U. Interbanca ‐ Finance structured to 31/12/2016			9 630.547,00 325.549,21
B.U. Interbanca ‐ Workout & Recovery to 31/12/2016			18 1.106.360,15 297.371,77
IFIS Leasing ‐ Auto Leasing to 31/12/2016			100 4.315.596,00 630.732,00
IFIS Rental Services ‐ Equipment Leasing Finance to 31/12/2016			29 1.148.654,91 242.700,25
TOTALS			475 23.043.842,90 3.281.424,00

AGGREGATE QUANTITATIVE INFORMATION DISTRIBUTED BETWEEN THE VARIOUS CATEGORIES OF "KEY PERSONNEL"
SUBSIDIARY COMPANIES (INTERBANCA, IFIS LEASING, IFIS FACTORING, IFIS RENTAL SERVICES)	No.	Payment at the start of employment	No.	Severance package	Severance payments (excluding Pension Fund reserves)
President of the Board of Directors	0	0	0	0	0
Vice President	0	0	0	0	0
Non‐Executive Directors	0	0	0	0	0
CEO and General Manager	1	0	1	2.685.779,00	506.160,85
Material Risk Takers	5	0	5	4.388.853,86	56.919,58
Total	6	0	6	7.074.632,86	563.080,43

AGGREGATE QUANTITATIVE INFORMATION DISTRIBUTED BETWEEN THE VARIOUS CATEGORIES OF "KEY PERSONNEL"
SUBSIDIARY COMPANIES (INTERBANCA, IFIS LEASING, IFIS FACTORING, IFIS RENTAL SERVICES)	N.	Deferred from previous years and paid in this financial year in cash	N.	Deferred from previous years and paid in this financial year in shares	N.	Deferred from previous years and withdrawn	Existing non attributed, deferred remuneration
President of the Board of Directors to 30/11/2016	1	-	-	-	-	-	-
Non-Executive Directors to 30/11/2016	2	-	-	-	-	-	-
GE Board of Directors to 30/11/2016	4	-	-	-	-	-	-
CEO and General Manager to 30/11/2016	1	74.157,00	1	-	-	-	249.880,00
President of the Board of Directors from 01/12/2016 (Banca IFIS Group)	1	-		- -	-		- -
CEO from 01/12/2016 (Banca IFIS Group)	1	-		- -	-		- -
Banca IFIS Parent Company Board of Directors from 01/12/2016	4	-		- -	-		- -
Material Risk Takers 30/11/2016 (excluding the General Manager)	18	32.394,00	4	98.681,45	-	-	139.876,00
Material Risk Takers 31/12/2016 (excluding the General Manager)	13	6.151,00	2	37.976,94	-	-	38.222,00
Material Risk Takers - Business Unit Heads to 31/12/2016	4	6.151,00	1	304,30	-	-	24.762,00

BANCA IFIS SPA
Total remuneration in excess of € 1 million	N.
€1million ‐ 1.5million	1
€1.5 ‐ 2million
€2 ‐ 2.5million
€2.5 ‐ 3million
€3 ‐ 3.5million
€3.5 ‐ 4million
€4 ‐ 4.5million

SUBSIDIARY COMPANIES (INTERBANCA, IFIS LEASING, IFIS FACTORING, IFIS RENTAL SERVICES)
Total remuneration in excess of € 1 million	N.
€1million ‐ 1.5million	3
€1.5 ‐ 2million
€2 ‐ 2.5million
€2.5 ‐ 3million
€3 ‐ 3.5million	1
€3.5 ‐ 4million
€4 ‐ 4.5million

"KE L" ( S) P ( AG GR EGA TE Q UA NT ITA TIV E IN FO RM AT ION REP RES ENT ING Y P ERS ON NE ON LY EM PLO YEE OF BA NC A I FIS GR OU SEL F‐E VA LUA TIO N C AR RIE D ) OU F T EBR UA RY 2 017
Ban IF IS G ca rou p	No	FIX ED	VA RIA BLE	A % VE RA GE VA RIA BLE ON F IXE D	fro Cas h nt u p	Equ ity up fro nt	h def Cas ed err	ity def Equ ed err
KEY P ERS ON NE L	37	4.2 65. 882 27 ,	1.4 21. 444 88 ,	33, 23%	58 1.2 76. 639 ,	‐	144 .80 5, 30	‐

AGG REG ATE QU ANT ITAT IVE INFO RMA TION D ISTR IBUT	F "M IES ( ES) ED B ETW EEN THE VAR IOU S CA TEG ORI ES O OST IMP ORT ANT PER SON S OF THE SUB SIDI ARY COM PAN INTE RBA NCA , IFI S LE ASIN G, IF IS FA CTO RING , IFI S RE NTA L SE RVIC
						able Vari y 20 16 pa
							Bon Pe us	rfor 20 16 man ce				Ret enti 20 16 on
(INT ES) SUB SIDI ARY CO MPA NIES ERB ANC A, IF IS LE ASIN G, IF IS FA CTO RING , IFI S RE NTA L SE RVIC	No.	FIXE D	VAR IABL E	% IN DIVI DUA L	% V ARIA BLE ON	Cash fron up	uity t Eq up	Cash de ferr ed	ity Equ	ntio Rete pr n ogra m	Cash fron up	quit t E y up	Cash de ferr ed	ity Equ
				MAX IMU V M ARIA BLE	FIXE D		fron t		defe rred	valu e		fron t	July 2017	defe rre
														d
iden of the ard of /11/ (inc ludi role s) Pres t Bo Dire ctor s to 30 2016 omi ttee ng g ove rnan ce c	1	82.5 00,0 0	0	0	0	0	0	0	0	0	0	0	0	0
/11/ (inc s) Non ‐Exe cuti Di 30 2016 ludi omi role rect ors t ttee ve o ng g ove rnan ce c	2	165 .000 ,00	0	0	0	0	0	0	0	0	0	0	0	0
/11/ GE Bo ard of Dire 30 2016 ctor s to	4	0	0	0	0	0	0	0	0	0	0	0	0	0
ral CEO r Di rect or G o ene	1	490 .620 ,00	0	0	0	0	0	0	0	0	0	0	0	0
/11/ (exc Mat eria Ris l Ta k kers 30 2016 ludi ng M ing Dire and Mem bers of th e Bo ard of to ctor anag	18	2.70 5.45 4,06	647 .167 ,20	81%	24%	165 .523 ,99	n.a.	144 .805 ,93	0	336 .837 ,28	286 .449 ,96	0	27.4 99,4 3	0
Dire s) ctor
l k kers de t he ads 0/11 /201 Mat eria Ris Ta ‐ Go part to 3 6 vern ance men	6	836 .632 ,03	89.7 57,0 0	20%	11%	48.8 91,0 0	n.a.	0	0	40.8 66,0 0	26.4 14,0 0	0	0	0
1/12 /201 6 (B up) Pres iden of the Bo ard of Dire s fro 0 IFIS Gro t ctor m anca	1	0	0	0	0	0	0	0	0	0	0	0	0	0
1/12 /201 CEO fr 0 6 (B IFIS Gro up) om anca	1	0	0	0	0	0	0	0	0	0	0	0	0	0
bers of the ard of ploy ed b from 01/1 2/20 Mem Bo Dire ctor y Pa rent Com y Ba IFIS 16 s em pan nca	4	0	0	0	0	0	0	0	0	0	0	0	0	0
/12/ (exc Mat eria Ris l Ta k kers 31 2016 ludi he G ral M nd M emb f the Boa rd o f to ng t ene anag er a ers o	13	1.51 7.00 1,65	647 .167 ,20	81%	43%	165 .523 ,99	0	144 .805 ,93	0	336 .837 ,28	286 .449 ,96	0	27.4 99,4 3	0
Dire s) ctor
l k kers de t he ads 1/12 /201 Mat eria Ris Ta ‐ Go part to 3 6 vern ance men	4	458 .090 ,00	89.7 57,0 0	20%	20%	48.8 91,0 0	0	0,00	0	40.8 66,0 0	26.4 14,0 0	0	0	0
/12/ Mat eria Ris l Ta k kers ‐ Bu sine ss U nit h ead 31 2016 s to	4	568 .216 ,35	336. 656, 70	77%	59%	52.4 70,3 9	0	100. 996, 13	0	183. 190, 88	147. 254, 96	0	27.4 99,4 3	0

APPENDIX E

VOTING LIST FOR ITEM 2) OF THE AGENDA:

Remuneration Report

Remuneration policies for corporate officers, employees and associates of the Banca IFIS banking Group:

Share capital € 53.811.095,00

SHA REH OL DER	NO T V OT ING	%	FO R	%	AG AIN ST	%	AB STE NTI ON S	%
LA SCO GLI ERA S.P .A.		0,00 00%	26.9 66.8 47	50, 113 9%		0,00 00%		0,00 00%
ALB IZZ ATI TIZ IAN O V INC ENZ O		0,00 00%	2.50 0	0,00 46%		0,00 00%		0,00 00%
ALC HIM IA S PA		0,00 00%	1.07 6.24 7	2,00 00%		0,00 00%		0,00 00%
BOA LO' PIE TRO AM ERI GO		0,00 00%	1.00 0	0,00 19%		0,00 00%		0,00 00%
BO SSI GIO VA NN I		0,00 00%	1.83 8.64 6	3,4 169 %		0,00 00%		0,00 00%
CAS ELL I LA URA		0,00 00%	1.00 0	0,00 19%		0,00 00%		0,00 00%
CHI ESA DA NIE LA		0,00 00%	2.50 0	0,00 46%		0,00 00%		0,00 00%
COZ TRO ZA PIE		0,00 00%	500	0,00 09%		0,00 00%		0,00 00%
MA DER NA FR AN CES CA		0,00 00%	1.07 0.42 2	1,98 92%		0,00 00%		0,00 00%
MIO TTI FR AN CO		0,00 00%	1.00 0	0,00 19%		0,00 00%		0,00 00%
PAN DO LFO FA ZIO BRI		0,00 00%	3.20 0	0,00 59%		0,00 00%		0,00 00%
POR TAL UPP I AN NA MA RIA CR IST INA		0,00 00%	1.25 0	0,00 23%		0,00 00%		0,00 00%
COS ZIO NI S PA PRE VE TRU		0,00 00%	1.15 0.00 0	2,13 71%		0,00 00%		0,00 00%
PRE VE RIC CAR DO		0,00 00%	92. 168	0,17 13%		0,00 00%		0,00 00%
RIZ ZAR DI R AFF AEL E		0,00 00%	1.00 0	0,00 19%		0,00 00%		0,00 00%
STA CCI ON E A LBE RTO		0,00 00%	140 .000	0,26 02%		0,00 00%		0,00 00%
119 9 SE IU H EAL TH CAR E E MP LOY EES PE NSI ON FU ND		0,00 00%	59.5 91	0,1 107 %		0,00 00%		0,00 00%
3M CAN ADA CO MPA NY MAS TER TR UST		0,00 00%	6.52 0	0,0 121 %		0,00 00%		0,00 00%
3M ERI P A CAD IAN GLO BAL		0,00 00%	22.9 76	0,04 27%		0,00 00%		0,00 00%
700 30 P D G LOB ALE AK TIE R V II		0,00 00%	31.9 41	0,05 94%		0,00 00%		0,00 00%
ACA DIA N IN TER NA TIO NA L S MA LL CAP FUN D		0,00 00%	13.7 28	55% 0,02		0,00 00%		0,00 00%
ACA DIA N N ON -US SM ALL -CA P L ON G-S HO RT EQU ITY FU ND LL C		0,00 00%	681	0,00 13%		0,00 00%		0,00 00%
ACC IDE NT COM PEN SAT ION CO RPO RAT ION		0,00 00%	14.4 97	0,02 69%		0,00 00%		0,00 00%
ACT IVE INT ERN ATI ON AL SM ALL CA P L END ING CO MM ON TR UST FU ND		0,00 00%	20.4 97	0,03 81%		0,00 00%		0,00 00%
AGI WS RC 10 S PV M IN D 84 90 0 7 52 PK		0,00 00%	8.28 5	0,0 154 %		0,00 00%		0,00 00%
ALA SKA AN CO RPO RAT ION PE RM ENT FU ND		0,00 00%	2.98 1	0,00 55%		0,00 00%		0,00 00%
ALK EN FUN D		0,00 00%	601 .900	1,1 185 %		0,00 00%		0,00 00%
ALK EN FUN D		0,00 00%	274 .849	0,5 108 %		0,00 00%		0,00 00%
ALL IAN ZGI FO ND S G AN O 2		0,00 00%	2.32 3	0,00 43%		0,00 00%		0,00 00%
ALL IAN ZGI -FO ND S D SPT		0,00 00%	2.40 0	0,00 45%		0,00 00%		0,00 00%
ALL IAN ZGI -FO S D SPT ND		0,00 00%	2.90 0	0,00 54%		0,00 00%		0,00 00%
ALT RIA CL IEN T S ERV ICE S M AST ER RET IRE M.T		0,00 00%	19.5 02	0,03 62%		0,00 00%		0,00 00%
AM G T RIL OG Y IN TER NA TIO NA L S MA LLC AP FUN D		0,00 00%	17.5 03	0,03 25%		0,00 00%		0,00 00%
AN Z W HO LES ALE INT ERN ATI ON AL SHA RE NO . 3		0,00 00%	2.60 0	0,00 48%		0,00 00%		0,00 00%
AQR ONA L SM CA QUI INT ERN ATI ALL P E TY FUN D, L .P.		0,00 00%	17.4 85	0,03 25%		0,00 00%		0,00 00%
ARI ZON A S TAT E R ETIR EME NT SYS TEM		0,00 00%	7.80 2	0,0 145 %		0,00 00%		0,00 00%
ARK ANS AS STA TE HIG HW AY EMP LOY EES RE TIR EME NT SYS TEM		0,00 00%	9.50 0	0,0 177 %		0,00 00%		0,00 00%
ARR OW STR EET CA PIT AL GLO BAL EQ UIT Y - ALP HA EXT ENS ION FU ND LIM ITE D		0,00 00%	17.4 99	0,03 25%		0,00 00%		0,00 00%
AXA RO SEN BER G E QUI TY ALP HA TRU ST		0,00 00%	2.40 0	0,00 45%		0,00 00%		0,00 00%
AXA WO RLD FU NDS		0,00 00%	51.0 77	0,09 49%		0,00 00%		0,00 00%
BBH TR UST E S ERV . (IE ) LI MIT ED		0,00 00%	12.3 42	0,02 29%		0,00 00%		0,00 00%
BGI MS CI E AFE SM ALL CA P E QU ITY IND EX FUN D B		0,00 00%	6.99 2	0,0 130 %		0,00 00%		0,00 00%
BLA CKR OCK AM SC H A G O BO BIF S W ORL D E X S W S MA LL CAP EQ IND EX F		0,00 00%	2.5 18	0,00 47%		0,00 00%		0,00 00%
BLA CKR OCK D A COU QU IND EXE LL- NTR Y E ITY FU N		0,00 00%	107	0,00 02%		0,00 00%		0,00 00%
BLA CKR OCK INS T T RU ST CO NA INV FU ND SFO R E MP LOY EE BEN EFI T T R		0,00 00%	9.33 9	0,0 174 %		0,00 00%		0,00 00%
BLA CKR OCK INS T T RU ST CO NA INV FU ND SFO R E MP LOY EE BEN EFI T T R		0,00 00%	77. 155	0,14 34%		0,00 00%		0,00 00%
BLA CKR OCK INS T T RU ST CO NA INV FU ND SFO R E MP LOY EE BEN EFI T T R		0,00 00%	21.0 69	0,03 92%		0,00 00%		0,00 00%
BLA CKR OCK MS CI W ORL D S MA LL CAP EQ ES G S CRE ENE D IN DEX FU ND B		0,00 00%	320	0,00 06%		0,00 00%		0,00 00%
E S GRO BLU KY UP		0,00 00%		0,00 00%	4.3 19	0,00 80%		0,00 00%
BMO NE SBI TT BUR NS SEG AC CT		0,00 00%	7.00 0	0,0 130 %		0,00 00%		0,00 00%
BNY ME LLO N E MP LOY EE BEN EFI T C OLL ECT IVE INV EST ME NT FUN D P LAN		0,00 00%	750	0,00 14%		0,00 00%		0,00 00%
BNY MT D C F M ITO N E URO PEA N O PPS FU ND		0,00 00%	92.4 17	0,17 17%		0,00 00%		0,00 00%
BOA OF SIO NS OF ANG ELIC CHU RCH CA RD PEN THE EV AL LUT HER AN IN AM ERI		0,00 00%	7.20 5	0,0 134 %		0,00 00%		0,00 00%
BOI LER MA KER BL ACK SM ITH NA TIO NA L P ENS ION		0,00 00%	5.34 4	0,00 99%		0,00 00%		0,00 00%
BO STO ATR IOT CO NG RES S ST C C /O P AN AG ORA AS SET MA NA GEM C. N P LL ENT , IN		0,00 00%	100	0,00 02%		0,00 00%		0,00 00%
BRI CKL AY ERS + T ROW EL TRA DES INT ERN ATI ON AL PEN SIO N F UN D		0,00 00%	300	0,00 06%		0,00 00%		0,00 00%
CAL IFO A P IC E LOY EES SY STE RNI UBL MP RE TIR EM ENT M		0,00 00%	45.6 29	0,08 48%		0,00 00%		0,00 00%
CAL IFO RNI A P UBL IC E MP LOY EES RE TIR EM ENT SY STE M		0,00 00%	2.93 4	0,00 55%		0,00 00%		0,00 00%
CAL IFO RNI A S TAT E T EAC HER S R ETI REM ENT SY STE M		0,00 00%	4.68 5	0,00 87%		0,00 00%		0,00 00%
CAL IFO RNI A S TAT E T EAC HER S R ETI REM ENT SY STE M		0,00 00%	23.9 93	0,04 46%		0,00 00%		0,00 00%
CAR PIM KO PM CA PI H		0,00 00%	19.0 00	0,03 53%		0,00 00%		0,00 00%

CAS EY FAM ILY PR OG RAM S	0,00 00%	11.0 70	0,02 06%	0,00 00%	0,00 00%
CBO SC ATF CB GS- WG SS0 2 N EW	0,00 00%	21.0 99	0,03 92%	0,00 00%	0,00 00%
CE8 F W ILLI AM BLA IR IS CE	0,00 00%	39.2 62	0,07 30%	0,00 00%	0,00 00%
CF DV ACW I EX -U.S . IM I FU ND	0,00 00%	129	0,00 02%	0,00 00%	0,00 00%
CG CAY MA N F UN D L IMI TED	0,00 00%		0,00 00%	0,00 00%	4.77 1 0,00 89%
CH0 526 - U BS (CH ) IN STI TUT ION AL FUN D - EQU ITIE S G LOB AL SM ALL CA P PA SSI VE II	0,00 00%	1.14 0	0,00 21%	0,00 00%	0,00 00%
CHE VRO AST SIO RUS N M ER PEN N T T	0,00 00%	9.81 2	0,01 82%	0,00 00%	0,00 00%
CHE VRO N M AST ER PEN SIO N T RUS T	0,00 00%	2.34 6	0,00 44%	0,00 00%	0,00 00%
CIT Y O F L OS AN GEL ES FIR E A ND PO LIC E P ENS ION PL AN	0,00 00%	3.36 6	0,00 63%	0,00 00%	0,00 00%
CIT Y O F N EW YOR K D EFE RRE D C OM PEN SAT ION PLA N	0,00 00%	39.7 05	0,07 38%	0,00 00%	0,00 00%
CIT Y O F N EW YO RK GRO UP TRU ST	0,00 00%	5 1.67	0,00 31%	0,00 00%	0,00 00%
CIT Y O F N EW YO RK GRO UP TRU ST	0,00 00%	4.33 9	0,00 81%	0,00 00%	0,00 00%
CIT Y O F N EW YO RK GRO UP TRU ST	0,00 00%	3.41 9	0,00 64%	0,00 00%	0,00 00%
CIT Y O F N EW YO RK GRO UP TRU ST	0,00 00%	71.1 97	0,13 23%	0,00 00%	0,00 00%
CIT Y O F N EW YO RK GRO UP TRU ST	0,00 00%	13.4 55	0,02 50%	0,00 00%	0,00 00%
CIT Y O YO GRO ST F N EW RK UP TRU	0,00 00%	40.2 55	0,07 48%	0,00 00%	0,00 00%
CLI NTO N E QU ITY ST RAT EGI ES MA STE R F UN D L TD	0,00 00%		0,00 00%	0,00 00%	23.7 32 0,04 41%
CLI NTO N L IGH THO USE EQ UIT Y S TRA TEG IES FU ND (OF FSH ORE ) LP CO CL INT ON GR OU P, IN C.	0,00 00%		0,00 00%	0,00 00%	739 0,00 14%
CLI NTO IGH THO USE EQ Y S TRA TEG IES MA STE C/O CL ON GR OU C N L UIT R F UN D L TD. INT P, IN	0,00 00%		0,00 00%	0,00 00%	2.90 6 0,00 54%
COL LEG E R ETI REM ENT EQ UIT IES FU ND	0,00 00%	103 .952	0,19 32%	0,00 00%	0,00 00%
COL LEG ES OF APP D A RTS AN ECH NO LOG ENS ION LIE D T Y P P	0,00 00%	18.0 38	0,03 35%	0,00 00%	0,00 00%
COL ON IAL FIR ST STA TE INV EST ME NTS LIM ITE D.	0,00 00%	3.52 9	0,00 66%	0,00 00%	0,00 00%
COL TRA NE MA STE R F UN D L .P.	0,00 00%	1.31 6	0,00 24%	0,00 00%	0,00 00%
CON NEC TIC UT GEN ERA L L IFE INS URA NCE CO MP AN Y	0,00 00%	122	0,00 02%	0,00 00%	0,00 00%
COP RO CK ONA L SM CA PER INT ERN ATI ALL P FU ND	0,00 00%	316 .372	0,58 79%	0,00 00%	0,00 00%
COU NSE L G LOB AL S MAL L CA P	0,00 00%	32.1 84	0,05 98%	0,00 00%	0,00 00%
COX EN TER PRI SES INC MA STE R T RUS T	0,00 00%	3.52 6	0,00 66%	0,00 00%	0,00 00%
CPA CO SER S A CAD AS SET MG P P IAN MT	0,00 00%	11.4 88	0,02 13%	0,00 00%	0,00 00%
CPA CO P P SER S B ATT ERY MAR CH FIN MGT	0,00 00%	7.64 5	0,01 42%	0,00 00%	0,00 00%
CPA CO P P SER S W ASA TCH AD VIS ORS	0,00 00%	57.2 55	0,10 64%	0,00 00%	0,00 00%
CTJ RE ST ANL IB G LOB AL EQ HOS KIN G	0,00 00%	27.8 66	0,05 18%	0,00 00%	0,00 00%
TA MA STE ST DEL R T RU	0,00 00%	60.5 25	0,11 25%	0,00 00%	0,00 00%
DEL TA PIL OTS DIS ABI LIT Y A ND SU RVI VO RSH IP	0,00 00%	6.24 6	0,01 16%	0,00 00%	0,00 00%
TSC RAC S M SCI EDG EQU DEU HE X-T KER EM U H ED ITY ET F	0,00 00%	246	0,00 05%	0,00 00%	0,00 00%
DIG NIT Y H EAL TH	0,00 00%	1.50 7	0,00 28%	0,00 00%	0,00 00%
DIG NIT Y H EAL TH RET IRE ME NT PLA N T RU ST	0,00 00%	1.38 9	0,00 26%	0,00 00%	0,00 00%
DO MIN ION RE SOU RCE S IN C. M AST ER TRU ST	0,00 00%	24.0 68	0,04 47%	0,00 00%	0,00 00%
DON ANC SIO RUS NEL LEY FIN IAL PEN N T T	0,00 00%	1.08 2	0,00 20%	0,00 00%	0,00 00%
RGY SA GS PLA DU KE ENE RE TIR EM ENT VIN N	0,00 00%	1.57 1	0,00 29%	0,00 00%	0,00 00%
DUP ONT AN D R ELA TED CO MP DEF INE D C ONT RIB UTI ON PLA N M AST ER TR	0,00 00%	4.20 0	0,00 78%	0,00 00%	0,00 00%
EM PLO YEE S R ETI REM ENT FU ND OF TH E C ITY OF DA LLA S	0,00 00%	13.2 45	0,02 46%	0,00 00%	0,00 00%
ENS IGN PE AK CP LSV INT L SM ALL	0,00 00%	21.7 00	0,04 03%	0,00 00%	0,00 00%
ENS IGN L SC LSV AS SET PE AK INT	0,00 00%	87.5 10	0,16 26%	0,00 00%	0,00 00%
ERG OS OFF SHO RE I LT D C O H ARN EYS CO RPO RAT E S ERV ICE S	0,00 00%		0,00 00%	0,00 00%	50 0,00 01%
EXE LON CO RPO RAT ION DE F C ON TRI BUT ION RE T P LAN S M AST ER TR	0,00 00%	15.3 79	0,02 86%	0,00 00%	0,00 00%
EXE LON CO RPO RAT ION PE NSI ON MA STE R R ETI REM ENT TR UST	0,00 00%	26.0 93	0,04 85%	0,00 00%	0,00 00%
FCP AS TOR G C ROI SSA NCE MI D C AP	0,00 00%	8.56 2	0,01 59%	0,00 00%	0,00 00%
FCP GR OU PAM A A VEN IR E UR O	0,00 00%	715 .049	1,32 88%	0,00 00%	0,00 00%
FCP HS BC TEC HN OLO GIE	0,00 00%	46.0 08	0,08 55%	0,00 00%	0,00 00%
SAL ST T S PAR TAN TO TAL FID ELI TY INT IN F	0,00 00%	160	0,00 03%	0,00 00%	0,00 00%
FIR E A ND PO LIC E P ENS ION FU ND SA N A NTO NIO	0,00 00%	2.14 5	0,00 40%	0,00 00%	0,00 00%
XSH ARE S M ORN ING STA LOP MA TS US FAC TOR FLE R D EVE ED RKE EX- TIL T IN DEX FU ND	0,00 00%	1.61 7	0,00 30%	0,00 00%	0,00 00%
FLO RID A R ETI REM ENT SY STE M .	0,00 00%	285	0,00 05%	0,00 00%	0,00 00%
FLO RID A R ETI REM ENT SY STE M .	0,00 00%	104 .832	0,19 48%	0,00 00%	0,00 00%
FLO RID A R ETI REM ENT SY STE M .	0,00 00%	27.2 32	0,05 06%	0,00 00%	0,00 00%
FLO RID A R ETI REM ENT SY STE M .	0,00 00%	36.9 90	0,06 87%	0,00 00%	0,00 00%
GLO BEF LEX INT ERN ATI ONA L PA RTN ERS LTD	0,00 00%	4.30 0	0,00 80%	0,00 00%	0,00 00%
GOV ERN MEN T IN STIT UTI ONS PE NSI ON FUN D	0,00 00%	1.51 0	0,00 28%	0,00 00%	0,00 00%
GO VER NM ENT OF NO RW AY	0,00 00%	676 .485	1,25 71%	0,00 00%	0,00 00%
GO OF NO VER NM ENT RW AY	0,00 00%	723 .155	1,34 39%	0,00 00%	0,00 00%
GO VER NM ENT OF NO RW AY	0,00 00%	135 .978	0,25 27%	0,00 00%	0,00 00%
GOV ERN MEN T O F TH E P ROV INC E O F AL BER TA	0,00 00%	12.9 00	0,02 40%	0,00 00%	0,00 00%
GOV ERN MEN T S UPE RAN NUA TIO N F UND	0,00 00%	12.9 94	0,02 41%	0,00 00%	0,00 00%
GW ONA L SM CA +K INT ERN ATI ALL P FU ND, L.P	0,00 00%	17.6 45	0,03 28%	0,00 00%	0,00 00%
HIG HM AR K L IMI TED HIG HM AR K L ON G S HO RT EQU ITY 2 C O P AN AG ORA AS SET MA NA GEM ENT INC	0,00 00%		0,00 00%	0,00 00%	50 0,00 01%
HO SKI NG GL OBA L F UN D P LC	0,00 00%	248 .158	0,46 12%	0,00 00%	0,00 00%
HO SKI NG PA RTN ERS CO LLE CTI VE INV EST ME NT TRU ST	0,00 00%	22.4 14	0,04 17%	0,00 00%	0,00 00%
HO STP LUS PO OLE D S RAN ATI ON UST UPE NU TR	0,00 00%	32.2 59	0,05 99%	0,00 00%	0,00 00%
STA RUS O. 1 HRW TE MEN TAR Y T T N 0	0,00 00%	9.22 9	0,01 72%	0,00 00%	0,00 00%
HSB C G LOB AL INV EST ME NT FUN DS	0,00 00%	154 .495	0,28 71%	0,00 00%	0,00 00%
IBM 401 K P LUS PL AN	0,00 00%	15.8 40	0,02 94%	0,00 00%	0,00 00%
ILL INO IS M UN ICIP AL RET IRE ME NT FUN D	0,00 00%	53.1 76	0,09 88%	0,00 00%	0,00 00%
ILL INO IS S TAT E B OA RD OF INV EST ME NT	0,00 00%	4.20 7	0,00 78%	0,00 00%	0,00 00%

IND IAN A P UBL IC R ETIR EME NT SYS TEM	0,00 00%	760	0,00 14%	0,00 00%	0,00 00%
INT EL COR P R ETI REM ENT PL AN S M AST ER FUN D	0,00 00%	13.3 00	0,02 47%	0,00 00%	0,00 00%
INT ERN ATI ON AL LP I	0,00 00%	538	0,00 10%	0,00 00%	0,00 00%
INT ERN ATI ON AL MO NET ARY FU ND	0,00 00%	472	0,00 09%	0,00 00%	0,00 00%
INT ERN ATI ON AL PAP ER CO COM MIN GLE D IN VES TM ENT GR OU P T RU ST	0,00 00%	30.1 82	0,05 61%	0,00 00%	0,00 00%
ATI ON AL PAP CO COM GLE VES GR OU ST INT ERN ER MIN D IN TM ENT P T RU	0,00 00%	35.9 15	0,06 67%	0,00 00%	0,00 00%
ISH ARE S C ORE MS CI E AFE ET F	0,00 00%	34.1 90	0,06 35%	0,00 00%	0,00 00%
ISH ARE S C ORE MS CI E AFE IMI IND EX ETF	0,00 00%	1.35 8	0,00 25%	0,00 00%	0,00 00%
ISH ARE S M SCI EA FE S MAL L CA P ET F	0,00 00%	79.8 55	0,14 84%	0,00 00%	0,00 00%
ISH ARE S M SCI EU ROP E S MAL L-CA P ET F	0,00 00%	1.71 0	0,00 32%	0,00 00%	0,00 00%
ISH ARE S V II PL C	0,00 00%	20.0 29	0,03 72%	0,00 00%	0,00 00%
ISLA ND CAP ITAL INV EST MEN TS II, L LC	0,00 00%	2.50 9	0,00 47%	0,00 00%	0,00 00%
JOH CM ONA L SM CA QUI INT ERN ATI ALL P E TY FUN D	0,00 00%	73.6 83	0,13 69%	0,00 00%	0,00 00%
KAI SER PE RMA NEN TE GRO UP TRU ST	0,00 00%	12.2 58	0,02 28%	0,00 00%	0,00 00%
KP INT ERN ATI ONA L EQ UITY FU ND	0,00 00%	1.35 8	0,00 25%	0,00 00%	0,00 00%
LAB ORE RS' AN D R ET BOA RD EM PL AN NU ITY & B ENE FIT F O F C HIC AG O	0,00 00%	9.37 5	0,01 74%	0,00 00%	0,00 00%
LAT TIC E G LOB AL SM ALL CA P ST RAT EGY ET F	0,00 00%	98	0,00 02%	0,00 00%	0,00 00%
LEG AL AN D G ENE RAL AS SUR AN CE PEN SIO NS MA NA GEM ENT LIM ITE D	0,00 00%	3.50 1	0,00 65%	0,00 00%	0,00 00%
LEG AL AN D G RAL CO CTI EST ST ENE LLE VE INV ME NT TRU	0,00 00%	490	0,00 09%	0,00 00%	0,00 00%
LOC KH EED MA RTI N C ORP ORA TIO N M AST ER RET IRE ME NT TRU ST	0,00 00%	5.11 5	0,00 95%	0,00 00%	0,00 00%
LSC PE NSI ON TRU ST	0,00 00%	5.04 0	0,00 94%	0,00 00%	0,00 00%
LSC PE NSI ON TRU ST	0,00 00%	5.20 0	0,00 97%	0,00 00%	0,00 00%
M+ G IN VES TM ENT FU ND S (7 )- M +G PAN EU ROP EAN DIV IDE ND FU ND	0,00 00%	112 .500	0,20 91%	0,00 00%	0,00 00%
MA INS TAY 130 /30 INT ERN ATI ON AL FUN D	0,00 00%	17.4 41	0,03 24%	0,00 00%	0,00 00%
MAI NST AY ABS OLU TE RET URN MU LTI- STR ATE GY FUN D	0,00 00%	1.88 1	0,00 35%	0,00 00%	0,00 00%
NST DS ST NST ORT FOL IO MAI AY VP FUN TRU MAI AY VP MAR KET FIEL D P	0,00 00%	8.11 3	0,01 51%	0,00 00%	0,00 00%
MA N N UM ERI C E UR OPE AN AL PHA RE STR ICT ED MA PLE SCO RP SER VIC ES LTD	0,00 00%	5.45 0	0,01 01%	0,00 00%	0,00 00%
MAR RIO TT INT , INC . PO OLE D IN V T R F OR PAR TIC IPA NT DIR ECT ED ACC	0,00 00%	8.49 1	0,01 58%	0,00 00%	0,00 00%
MA RYL AN D S TAT E R ETI REM ENT & P ENS ION SY STE M	0,00 00%	1.57 8	0,00 29%	0,00 00%	0,00 00%
MD PIM INT ERN ATI ON AL EQU ITY PO OL	0,00 00%	4.00 0	0,00 74%	0,00 00%	0,00 00%
CER DIO CES E O OO N G ROW STR GY MER F BR KLY TH ATE	0,00 00%	1.01 8	0,00 19%	0,00 00%	0,00 00%
MER CER DIO CES E O F BR OO KLY N LA Y P ENS ION INV EST MEN T T RUS T	0,00 00%	540	0,00 10%	0,00 00%	0,00 00%
MER CER INT ERN ATI ONA L EQ UITY FU ND	0,00 00%	3.31 5	0,00 62%	0,00 00%	0,00 00%
ME TZL ER INT ERN ATI ON AL INV . PL C	0,00 00%	190 .000	0,35 31%	0,00 00%	0,00 00%
MG I FU ND S PL C	0,00 00%	15.6 59	0,02 91%	0,00 00%	0,00 00%
MIC RO SOF T G LOB AL FIN AN CE	0,00 00%	23.8 59	0,04 43%	0,00 00%	0,00 00%
MIL LPE NCI L US LP	0,00 00%	145	0,00 03%	0,00 00%	0,00 00%
MM SE LEC T E QUI TY A SSE T F UND	0,00 00%	293	0,00 05%	0,00 00%	0,00 00%
MS CI E AFE SM ALL CA P PR OV IND EX SEC CO MM ON TR F	0,00 00%	4.48 3	0,00 83%	0,00 00%	0,00 00%
MU LTI -ST YLE , MU LTI -MA NA GER FU ND S PL C	0,00 00%	52 23.9	45% 0,04	0,00 00%	0,00 00%
MU NIC IPA L E MP LOY EES ' AN NU ITY AN D B ENE FIT FU ND OF CH ICA GO	0,00 00%	1.35 3	0,00 25%	0,00 00%	0,00 00%
MU NIC IPA L E MP LOY EES ' RE TIR EM ENT SY STE M O F M ICH IGA N	0,00 00%	36.1 17	0,06 71%	0,00 00%	0,00 00%
NA TIO NA L C OU NCI L F OR SOC IAL SE CUR ITY FU ND , P.R .C	0,00 00%	1.99 9	0,00 37%	0,00 00%	0,00 00%
NA TIO NA L R AIL ROA D R ETI REM ENT INV EST ME NT TRU ST	0,00 00%	8.78 7	0,01 63%	0,00 00%	0,00 00%
NA TIO NA AIL ROA EST ST L R D R ETI REM ENT INV ME NT TRU	0,00 00%	46.0 87	0,08 56%	0,00 00%	0,00 00%
NA TIO NA L W EST MIN STE R B AN K P LC AS TRU STE E O F K ES STR AT INV F	0,00 00%	3.40 9	0,00 63%	0,00 00%	0,00 00%
NEW YO RK STA TE COM MO N R ETI REM ENT FU ND	0,00 00%	46.1 64	0,08 58%	0,00 00%	0,00 00%
NEW ZE ALA ND SU PER AN NU ATI ON FU ND	0,00 00%	1.18 5	0,00 22%	0,00 00%	0,00 00%
13 G LOB ERS NKB 105 AL DIV IFIE D	0,00 00%	14.4 98	0,02 69%	0,00 00%	0,00 00%
NO DA KO TA STA EST BOA RTH TE INV ME NT RD	0,00 00%	1.00 0	0,00 19%	0,00 00%	0,00 00%
NO RTH DA KO TA STA TE INV EST ME NT BOA RD	0,00 00%	2.55 4	0,00 47%	0,00 00%	0,00 00%
NO RTH ERN TR UST GL OBA L IN VES TM ENT S C OLL ECT IVE FU ND S TR UST	0,00 00%	13.0 87	0,02 43%	0,00 00%	0,00 00%
NO RTH ERN TR UST GL OBA L IN VES TM ENT S C OLL ECT IVE FU ND S TR UST	0,00 00%	255	0,00 05%	0,00 00%	0,00 00%
NO RTH ERN TR UST GL OBA L IN VES TM ENT S C OLL ECT IVE FU ND S TR UST	0,00 00%	4.93 8	0,00 92%	0,00 00%	0,00 00%
NTG I-QM CO MM ON DA ILY AL L C OU NW D E X-U S IN V M KT IND EX F N ON LEN D	0,00 00%	657	0,00 12%	0,00 00%	0,00 00%
RIC AB S R ARM NU ME ETU RN PD LP- EUN N	0,00 00%	2.33 0	0,00 43%	0,00 00%	0,00 00%
NU ME RIC MU LTI ST RAT EGY MA RKE T N EUT RAL LE VER ED OFF SHO RE FUN D L IMI TED	0,00 00%	19	0,00 00%	0,00 00%	0,00 00%
RIC SO CIA ST EGY NU ME LLY AW ARE MU LTI RAT FU ND LT D	0,00 00%	7	0,00 00%	0,00 00%	0,00 00%
NU ME RIC SO CIA LLY AW ARE MU LTI ST RAT EGY FU ND LT D	0,00 00%	3	0,00 00%	0,00 00%	0,00 00%
OD EY INV EST ME NTS PL C	0,00 00%	45.5 00	0,08 46%	0,00 00%	0,00 00%
OD EST NTS C EY INV ME PL	0,00 00%	12.0 67	0,02 24%	0,00 00%	0,00 00%
OIL INV EST ME NT COR POR ATI ON LT D.	0,00 00%	4.22 0	0,00 78%	0,00 00%	0,00 00%
ON EPA GLO BAL SH ARE S - S MA CAP TH LL IND EX	0,00 00%	1.18 6	0,00 22%	0,00 00%	0,00 00%
ORE GO N P UBL IC E MPL OYE ES RET IRE MEN T SY STE M	0,00 00%	15.3 59	0,02 85%	0,00 00%	0,00 00%
OW ENS CO RNI NG DE FIN ED BEN EFI T M AS TR	0,00 00%	5.99 9	0,01 11%	0,00 00%	0,00 00%
PAC IFIC SE LEC T F UND INT ERN ATI ONA L SM ALL -CA P P ORT FOL IO	0,00 00%	65.6 95	0,12 21%	0,00 00%	0,00 00%
PAN AG ORA AS SET MA NA GEM ENT INC	0,00 00%	251	0,00 05%	0,00 00%	0,00 00%
PEC O E GY CO AN DIC AL ST NER MP Y R ETI REE ME TRU	0,00 00%	1.74 5	0,00 32%	0,00 00%	0,00 00%
PEN SIO N P LAN FO R T HE EMP LOY EES OF CO NCO RDI A U NIV ERS ITY	0,00 00%	4.46 9	0,00 83%	0,00 00%	0,00 00%
PEN SIO N R ESE RVE S IN VES TM ENT TR UST FU ND	0,00 00%	1.16 0	0,00 22%	0,00 00%	0,00 00%
PEN SIO N R ESE RVE S IN VES TM ENT TR UST FU ND	0,00 00%	6.80 0	0,01 26%	0,00 00%	0,00 00%
PEN SIO N R ESE RVE S IN VES TM ENT TR UST FU ND	0,00 00%	5.51 0	0,01 02%	0,00 00%	0,00 00%
PF INT ERN ATI ONA L SM ALL CA P FU ND	0,00 00%	3.40 0	0,00 63%	0,00 00%	0,00 00%

PHC SM CA NT ALL P	0,00 00%	1.29 0	0,00 24%	0,00 00%		0,00 00%
PIN E IS LAN D II I, LL C	0,00 00%	12.1 27	0,02 25%	0,00 00%		0,00 00%
POL ICE ME N'S AN NU ITY AN D B ENE FIT FU ND OF CH ICA GO	0,00 00%	14.9 19	0,02 77%	0,00 00%		0,00 00%
PRO DU CER -WR ITE RS GU ILD OF AM ERI CA PEN SIO N P LAN	0,00 00%	378	0,00 07%	0,00 00%		0,00 00%
PUB LIC EM PLO YEE S R ETI REM ENT AS SOC IAT ION OF CO LOR AD O	0,00 00%	28.4 15	0,05 28%	0,00 00%		0,00 00%
PUB LIC EM PLO YEE S R ETI REM ENT AS SOC IAT ION OF NE W M EXI CO	0,00 00%	1.07 0	0,00 20%	0,00 00%		0,00 00%
LIC PLO S R SY STE M O ISS ISS PUB EM YEE ETI REM ENT F M IPI	0,00 00%	8.63 9	0,01 61%	0,00 00%		0,00 00%
LIC PLO S R SY STE M O F O HIO PUB EM YEE ETI REM ENT	0,00 00%	18.2 97	0,03 40%	0,00 00%		0,00 00%
PUB LIC EM PLO YEE S R ETI REM ENT SY STE M O F O HIO	0,00 00%	3.18 6	0,00 59%	0,00 00%		0,00 00%
PUB LIC EM PLO YEE S R ETI REM ENT SY STE M O F O HIO	0,00 00%	5.13 6	95% 0,00	0,00 00%		0,00 00%
PUB LIC EM PLO YEE S R ETI REM ENT SY STE M O F O HIO	0,00 00%	40.2 19	0,07 47%	0,00 00%		0,00 00%
PUB LIC EM PLO YEE S R ETI REM ENT SY STE M O F O HIO	0,00 00%	11.3 97	0,02 12%	0,00 00%		0,00 00%
LIC PLO S R SY STE M O F O HIO PUB EM YEE ETI REM ENT	0,00 00%	27.4 39	0,05 10%	0,00 00%		0,00 00%
QA NTA S SU PER AN NU ATI ON PL AN	0,00 00%	15.7 81	0,02 93%	0,00 00%		0,00 00%
REG S D OU SJA NS IME DE RE NTE U M VEM ENT DE RDI	0,00 00%	26.9 22	0,05 00%	0,00 00%		0,00 00%
REN AIS SAN CE GLO BAL SM ALL -CA P FU ND	0,00 00%	1.98 3	0,00 37%	0,00 00%		0,00 00%
RET AIL EM PLO YEE S SU PER AN NU ATI ON TR UST	0,00 00%	117 .079	0,21 76%	0,00 00%		0,00 00%
ROB AN D M ELA NI W ALT ON FOU NDA TIO N	0,00 00%	3.11 0	0,00 58%	0,00 00%		0,00 00%
ROW F G CW US T A I EX	0,00 00%	32.8 94	0,06 11%	0,00 00%		0,00 00%
RUS SEL L IN VES TME NT COM PAN Y IV PLC	0,00 00%	4.05 6	0,00 75%	0,00 00%		0,00 00%
RUS SEL L IN VES TME NT COM PAN Y P LC	0,00 00%	3.22 7	0,00 60%	0,00 00%		0,00 00%
SAC RAM ENT O C OU NTY EM PLO YEE S R ETI REM ENT SY STE M	0,00 00%	23.7 84	0,04 42%	0,00 00%		0,00 00%
SBC MA STE R P ENS ION TR UST	0,00 00%	8.09 2	0,01 50%	0,00 00%		0,00 00%
SBC MA STE R P ENS ION TR UST SB C M AST ER PEN SIO N T RU ST 208	0,00 00%	22.1 93	0,04 12%	0,00 00%		0,00 00%
SCH ROD ER INT ERN ATI ON AL SEL ECT ION FU ND	0,00 00%	109 .032	0,20 26%	0,00 00%		0,00 00%
SCH ROD ATI ON AL SEL ECT ION ER INT ERN FU ND	0,00 00%	8.34 4	0,01 55%	0,00 00%		0,00 00%
SCH WA B IN TER NA TIO NA L S MA LL- CAP EQ UIT Y E TF	0,00 00%	11.6 90	0,02 17%	0,00 00%		0,00 00%
SCS VIG ATO NA R F UN D	0,00 00%	9.70 0	0,01 80%	0,00 00%		0,00 00%
SEI GL OBA L M AST ER FUN D P LC	0,00 00%	6.80 5	0,01 26%	0,00 00%		0,00 00%
SHE LL P ENS ION S TR UST LIM ITED AS TRU STEE OF SHE LL C ONT RIBU TOR Y PE NSIO N FU ND	0,00 00%	8.89 9	0,01 65%	0,00 00%		0,00 00%
SHE ENS ION S TR UST AS STEE OF SHE LL C ONT TOR NSIO LL P LIM ITED TRU RIBU Y PE N FU ND	0,00 00%	8.65 6	0,01 61%	0,00 00%		0,00 00%
SHE LL TRU ST (BE RM UD A) L IMI TED AS TR UST EE	0,00 00%	1.36 4	0,00 25%	0,00 00%		0,00 00%
SHE LL T RUS T (B ERM UDA ) LT D AS TRU STEE OF THE SHE LL O VER SEA S C.P . FUN D	0,00 00%	3.45 3	0,00 64%	0,00 00%		0,00 00%
SHE LL T RUS T (B ERM UDA ) LT D AS TRU STEE OF THE SHE LL O VER SEA S C.P . FUN D	0,00 00%	2.70 0	0,00 50%	0,00 00%		0,00 00%
SOU TH CAL IF U TD FOO D & CO MM WK UN & F OO D E MP L JO INT PE NS TR F	0,00 00%	5.04 0	0,00 94%	0,00 00%		0,00 00%
SPD R S &P INT ERN ATI ONA L SM ALL CA P ET F	0,00 00%	9.49 2	0,01 76%	0,00 00%		0,00 00%
SPD R S &P WO RLD (EX -US ) ET F	0,00 00%	8.35 4	0,01 55%	0,00 00%		0,00 00%
SS B K A UST CO AN DS FOR TA ND TR MP Y IN V F UN XEX EM PT RET IRE ME NT PL	0,00 00%	16.5 20	0,03 07%	0,00 00%		0,00 00%
SS B K A ND TR UST CO MP AN Y IN V F UN DS FOR TA XEX EM PT RET IRE ME NT PL	0,00 00%	105 .307	0,19 57%	0,00 00%		0,00 00%
SS B K A ND TR UST CO MP AN Y IN V F UN DS FOR TA XEX EM PT RET IRE ME NT PL	0,00 00%	7.68 9	0,01 43%	0,00 00%		0,00 00%
SS B K A ND TR UST CO MP AN Y IN V F UN DS FOR TA XEX EM PT RET IRE ME NT PL	0,00 00%	12.0 26	0,02 23%	0,00 00%		0,00 00%
STA TE OF ALA SKA RE TIR EM ENT AN D B ENE FIT S PL AN S	0,00 00%	194	0,00 04%	0,00 00%		0,00 00%
STA TE OF MIN NES OTA	0,00 00%	1.93 4	0,00 36%	0,00 00%		0,00 00%
STA TE OF MO NTA NA BO ARD OF INV EST ME NTS	0,00 00%	11.6 79	0,02 17%	0,00 00%		0,00 00%
STA TE OF NEW JER SEY CO MM ON PE NSI ON FU ND D	0,00 00%	79.7 98	0,14 83%	0,00 00%		0,00 00%
STA OF SEY CO ON NSI ON TE NEW JER MM PE FU ND D	0,00 00%	27.1 47	0,05 04%	0,00 00%		0,00 00%
STA TE STR EET GL OBA L A DV ISO RS LUX EM BOU RG SIC AV	0,00 00%	18.7 53	0,03 48%	0,00 00%		0,00 00%
STA TE STR EET GL OBA L A DV ISO RS LUX EM BOU RG SIC AV	0,00 00%	11.1 73	0,02 08%	0,00 00%		0,00 00%
STG PFD S V .D. GRA FIS CHE	0,00 00%	16.1 45	0,03 00%	0,00 00%		0,00 00%
STI CHT ING PE NSI OEN FON DS VO OR HU ISA RTS EN	0,00 00%	1.90 3	0,00 35%	0,00 00%		0,00 00%
STI CHT ING S PE NSI OEN FON DS PH ILIP	0,00 00%	3.77 8	0,00 70%	0,00 00%		0,00 00%
STI CHT ING SH ELL PE NSI OEN FON DS	0,00 00%	21.9 84	0,04 09%	0,00 00%		0,00 00%
STI CHT ING SH ELL PE NSI OEN FON DS	0,00 00%	9.30 0	0,01 73%	0,00 00%		0,00 00%
SUN SUP ER SUP ERA NNU ATI ON FUN D	0,00 00%	47.0 32	0,08 74%	0,00 00%		0,00 00%
TEA CHE RS' RET IRE ME NT SYS TEM OF TH E S TAT E O F IL LIN OIS	0,00 00%	95.3 70	0,17 72%	0,00 00%		0,00 00%
TEA CHE RS' SYS OF E S TAT E O OIS RET IRE ME NT TEM TH F IL LIN	0,00 00%	30.1 85	0,05 61%	0,00 00%		0,00 00%
TEA CHE RS' S R ETI REM ENT SY STE M O F O KLA HO MA	0,00 00%	69.2 68	0,12 87%	0,00 00%		0,00 00%
TEA MS TER S PE NSI ON TR UST FU ND OF PH ILA DEL PHI A A ND VIC INIT Y	0,00 00%		0,00 00%	0,00 00%	2.45 6	0,00 46%
TEN NES SEE CO NSO LIDA TED RE TIR EME NT SYS TEM	0,00 00%	9.48 7	0,01 76%	0,00 00%		0,00 00%
TEX AS MU NIC IPA L R ETI REM ENT SY STE M	0,00 00%	61.7 92	0,11 48%	0,00 00%		0,00 00%
TEX AS SCO TTIS H R ITE HOS PITA L FO R C RIP PLE D C HIL DRE N	0,00 00%	1.07 8	0,00 20%	0,00 00%		0,00 00%
BA RCL AY S B AN THE K U K R ETI REM ENT FU ND	0,00 00%	38.5 24	0,07 16%	0,00 00%		0,00 00%
THE BO EIN G C OM PAN Y E MP LOY EE RET IRE ME NT P	0,00 00%	42.3 72	0,07 87%	0,00 00%		0,00 00%
BO G C OM PAN LOY THE EIN Y E MP EE RET IRE ME NT P	0,00 00%	3.97 5	0,00 74%	0,00 00%		0,00 00%
THE CL EVE LAN D C LIN IC F OU ND ATI ON	0,00 00%	2.00 8	0,00 37%	0,00 00%		0,00 00%
THE ED UCA TIO NAL EM PLO YEE S S UPP LEM ENT ARY RE TIR EME NT SYS TEM OF FA IRFA X C OUN TY	0,00 00%	5.58 6	0,01 04%	0,00 00%		0,00 00%
THE GB C IN TL GRO WT H F UN D	0,00 00%	28.4 61	0,05 29%	0,00 00%		0,00 00%
THE ME THO DIS T H OSP ITA L	0,00 00%	11.9 01	0,02 21%	0,00 00%		0,00 00%
NO VA SC OTI A H EAL PLO S PE NS THE TH EM YEE PL	0,00 00%	797	0,00 15%	0,00 00%		0,00 00%
THE RE GEN TS OF THE UN IVE RSI TY OF CAL IFO RNI A	0,00 00%	207	0,00 04%	0,00 00%		0,00 00%
THE RE GEN TS OF THE UN IVE RSI TY OF CAL IFO RNI A	0,00 00%	32	0,00 01%	0,00 00%		0,00 00%
THE RE GEN TS OF THE UN IVE RSI TY OF CAL IFO RNI A	0,00 00%	3	0,00 00%	0,00 00%		0,00 00%
THE RO CKE FEL LER FO UN DA TIO N	0,00 00%	10.3 85	0,01 93%	0,00 00%		0,00 00%

THE ST ATE OF CO NN ECT ICU T A CTI NG THR OU GH ITS TR EAS URE R		0,00 00%	14.9 34	0,02 78%		0,00 00%		0,00 00%
THE ST ATE OF CO NN ECT ICU T A CTI NG THR OU GH ITS TR EAS URE R		0,00 00%	99.0 00	0,18 40%		0,00 00%		0,00 00%
EYS TON THE TIF F K E F UN D, L .P.		0,00 00%	4.06 3	0,00 76%		0,00 00%		0,00 00%
THE TR UST EES OF CA TER PILL AR PEN SIO N P LAN		0,00 00%	2.00 0	0,00 37%		0,00 00%		0,00 00%
TIF F IN VES TM ENT PR OG RAM , IN C - TIF F M ULT I-A SSE T F UN D		0,00 00%	21.7 14	0,04 04%		0,00 00%		0,00 00%
TOU CHS TON E ST RAT EGI C T RUS T-IN T		0,00 00%	80.6 46	0,14 99%		0,00 00%		0,00 00%
TW O S IGM A A BSO LUT E R ETU RN POR TFO LIO LL C C ORP ORA TIO N S ERV ICE CO MP AN Y		0,00 00%	57	0,00 01%		0,00 00%		0,00 00%
O S IGM A S PEC ORT FOL IO L LC. TW TRU M P		0,00 00%	178	0,00 03%		0,00 00%		0,00 00%
TXM F LS V		0,00 00%	17.7 00	0,03 29%		0,00 00%		0,00 00%
UA W R ETI REE ME DIC AL BEN EFI TS TRU ST		0,00 00%	837	0,00 16%		0,00 00%		0,00 00%
UA W R ETI REE ME DIC AL BEN EFI TS TRU ST		0,00 00%	1.79 0	0,00 33%		0,00 00%		0,00 00%
UB S (U S) G ROU P T RU ST		0,00 00%	717	0,00 13%		0,00 00%		0,00 00%
S ET UB F		0,00 00%	1.03 3	0,00 19%		0,00 00%		0,00 00%
UB S FU ND MG T (C H) A G C H05 16/U BSC HIF 2-E GSC PII		0,00 00%	4.44 7	0,00 83%		0,00 00%		0,00 00%
UN ISU PER		0,00 00%	1.56 8	0,00 29%		0,00 00%		0,00 00%
UNI VER SAL INV EST BA YVK A1 FON DS		0,00 00%	4.94 5	0,00 92%		0,00 00%		0,00 00%
UNI VER SITY OF GU ELP H F ORE IGN PR OPE RTY TR UST		0,00 00%	4.09 6	0,00 76%		0,00 00%		0,00 00%
UPS GR OU P T RU ST		0,00 00%	24.6 96	0,04 59%		0,00 00%		0,00 00%
UTA H S TAT E R ETIR EME NT SYS TEM S		0,00 00%	1.86 7	0,00 35%		0,00 00%		0,00 00%
UTC AC ASS GM ADI AN ET M T		0,00 00%	3.15 5	0,00 59%		0,00 00%		0,00 00%
VAN GUA RD DEV EL A LL-C AP EX NOR TH AM ERI CA EQT IND PO OLE D F UND		0,00 00%	38	0,00 01%		0,00 00%		0,00 00%
VA NG UA RD DEV ELO PED MA RKE TS IND EX FUN D		0,00 00%	90.5 48	0,16 83%		0,00 00%		0,00 00%
VA NG UA RD EUR OPE AN ST OCK IND EX FUN D		0,00 00%	38.2 95	0,07 12%		0,00 00%		0,00 00%
VA NG UA RD FTS E A LL WO RLD SM ALL CA P IN D F U		0,00 00%	33.9 33	0,06 31%		0,00 00%		0,00 00%
VA NG UA RD FTS E D EVE LOP ED ALL CA P E X N ORT H A ME RIC A IN DEX ET F		0,00 00%	85	0,00 02%		0,00 00%		0,00 00%
VA NG UA FTS LOP OPE AL L C AP RD E D EVE ED EUR IND EX ETF		0,00 00%	178	0,00 03%		0,00 00%		0,00 00%
VA NG UA RD INT ERN ATI ON AL SM ALL CO MP AN IES I		0,00 00%	1.12 5	0,00 21%		0,00 00%		0,00 00%
VAN GUA RD INV FU NDS ICV C-V ANG UAR D FT SE GLO B A LL C AP IND FU ND		0,00 00%	107	0,00 02%		0,00 00%		0,00 00%
VA NG UA RD INV EST ME NT SER IES , PL C		0,00 00%	5 4.14	0,00 77%		0,00 00%		0,00 00%
VA NG UA RD TOT AL INT ERN ATI ON AL STO CK IND EX		0,00 00%	251 .516	0,46 74%		0,00 00%		0,00 00%
VA NG UA RD TOT AL WO RLD ST OCK IND EX FUN D		0,00 00%	6.21 3	0,01 15%		0,00 00%		0,00 00%
VER MO NT PEN SIO N IN VES TM ENT CO MM ITT EE		0,00 00%	21.2 96	0,03 96%		0,00 00%		0,00 00%
SM CO S T RUS VFM ALL MPA NIE T		0,00 00%	29.7 82	0,05 53%		0,00 00%		0,00 00%
VFM C IN TER NAT ION AL EQU ITY TRU ST 1		0,00 00%	8.80 5	0,01 64%		0,00 00%		0,00 00%
VFM C IN TER NAT ION AL EQU ITY TRU ST 2		0,00 00%	17.6 03	0,03 27%		0,00 00%		0,00 00%
VIR GIN IA R ETI REM ENT SY STE M .		0,00 00%	80.1 53	0,14 90%		0,00 00%		0,00 00%
VIR GIN IA R ETI REM ENT SY STE M .		0,00 00%	51.3 00	0,09 53%		0,00 00%		0,00 00%
VOY TL S M C AC A M M IN AP FND ADI AN		0,00 00%	3.65 4	0,00 68%		0,00 00%		0,00 00%
WA SAT CH GLO BAL OP POR S FU TUN ITIE ND		0,00 00%	21.4 74	0,03 99%		0,00 00%		0,00 00%
WA SAT CH INT ERN ATI ON AL GRO WT H F UN D		0,00 00%	345 .468	0,64 20%		0,00 00%		0,00 00%
WA SAT CH INT L SM ALL CA P G ROW TH		0,00 00%	12.3 95	0,02 30%		0,00 00%		0,00 00%
WA SHI NG TON ST ATE INV EST ME NT BOA RD		0,00 00%	1.43 2	0,00 27%		0,00 00%		0,00 00%
WE ST V IRG INIA INV EST ME NT MA NA GEM ENT BO ARD		0,00 00%	39.2 66	0,07 30%		0,00 00%		0,00 00%
LIA LAI R C OLL ECT EST ST WIL M B IVE INV ME NT TRU		0,00 00%	75.8 16	0,14 09%		0,00 00%		0,00 00%
WIL LIA M B LAI R C OLL ECT IVE INV EST ME NT TRU ST		0,00 00%	42.0 00	0,07 81%		0,00 00%		0,00 00%
WIL LIA M B LAI R IN TER NA TIO NA L S MA LL CAP GR OW TH FUN D		0,00 00%	118 .914	0,22 10%		0,00 00%		0,00 00%
WIS DO MIC CU NCY DG SM CAP MT REE DY NA RRE HE ED INT RNL ALL		0,00 00%	77	0,00 01%		0,00 00%		0,00 00%
WIS DO MT REE EU ROP E H EDG ED SM ALL CAP EQ UIT Y F UN D		0,00 00%	15.5 11	0,02 88%		0,00 00%		0,00 00%
WIS DO MT REE EU ROP E L OCA L R ECO VER Y F UN D		0,00 00%	299	0,00 06%		0,00 00%		0,00 00%
WIS DO MT REE EU ROP E S MA LLC AP DIV IDE ND FU ND		0,00 00%	138 .010	0,25 65%		0,00 00%		0,00 00%
WIS DO MT REE EU ROP E S MA LLC AP DIV IDE ND FU ND		0,00 00%	731	0,00 14%		0,00 00%		0,00 00%
WIS DO ATI ON AL SM ALL CAP MT REE INT ERN DIV IDE ND FU ND		0,00 00%	74.4 82	0,13 84%		0,00 00%		0,00 00%
WIS DO MT REE ISS UER PU BLI C L IMI TED CO MP AN Y		0,00 00%	8.23 6	0,01 53%		0,00 00%		0,00 00%
WM PO OL - EQ UIT IES TR UST NO 72		0,00 00%	21.4 57	0,03 99%		0,00 00%		0,00 00%
WY OM ING RE TIR EME NT SYS TEM		0,00 00%	58.2 97	0,10 83%		0,00 00%		0,00 00%
TO TAL	0	0,00 00%	42.5 25.3 67	79,0 271 %	4.31 9	0,00 80%	34.7 04	0,06 45%