PARVEST SICAV ANNUAL REPORT. at 31/12/2016. R.C.S. Luxembourg B

Transcription

1 PARVEST SICAV ANNUAL REPORT at 31/12/2016 R.C.S. Luxembourg B

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3 Table of contents Organisation 4 Information 7 Manager's report 8 Audit report 12 Financial statements at 31/12/ Key figures relating to the last 3 years 37 Aqua 65 Bond Absolute Return V Bond Absolute Return V Bond Asia ex-japan 71 Bond Best Selection World Emerging 72 Bond Euro 74 Bond Euro Corporate 76 Bond Euro Government 79 Bond Euro High Yield 81 Bond Euro Inflation-Linked 83 Bond Euro Long Term 84 Bond Euro Medium Term 85 Bond Euro Short Term 87 Bond Euro Short Term Corporate 89 Bond Europe Emerging 95 Bond JPY 96 Bond RMB 97 Bond USA High Yield 98 Bond USD 101 Bond USD Short Duration 104 Bond World 105 Bond World Emerging 108 Bond World Emerging Local 110 Bond World High Yield 111 Bond World High Yield Short Duration 115 Bond World Income 116 Bond World Inflation-Linked 119 Climate Impact 120 Commodities 121 Convertible Bond Asia 122 Convertible Bond Europe 123 Convertible Bond Europe Small Cap 124 Page 1 Page

4 Table of contents Page Convertible Bond World 125 Covered Bond Euro 127 Cross Asset Absolute Return 129 Diversified Dynamic 130 Enhanced Cash 6 Months 131 Equity Asia ex-japan 134 Equity Asia Pacific ex-japan 136 Equity Australia 138 Equity Best Selection Asia ex-japan 139 Equity Best Selection Euro 140 Equity Best Selection Europe 141 Equity Best Selection Europe ex-uk 142 Equity Best Selection World 143 Equity Brazil 144 Equity China 145 Equity Europe Emerging 146 Equity Europe Growth 147 Equity Europe Mid Cap 148 Equity Europe Small Cap 149 Equity Europe Value 150 Equity Germany 151 Equity High Dividend Pacific 152 Equity High Dividend USA 153 Equity High Dividend World 154 Equity India 155 Equity Indonesia 156 Equity Japan 157 Equity Japan Small Cap 158 Equity Latin America 160 Equity New Frontiers 161 Equity Nordic Small Cap 162 Equity Russia 163 Equity Russia Opportunities 164 Equity South Korea 165 Equity Turkey 166 Equity USA 167 Equity USA Growth 169 Equity USA Mid Cap 170 Equity USA Small Cap 171 Page 2

5 Table of contents Page Equity USA Value 172 Equity World Consumer Durables 173 Equity World Emerging 174 Equity World Emerging Low Volatility 176 Equity World Emerging Small Cap 178 Equity World Energy 180 Equity World Finance 181 Equity World Health Care 182 Equity World Low Volatility 183 Equity World Materials 185 Equity World Technology 186 Equity World Telecom 187 Equity World Utilities 188 Flexible Bond Euro 189 Flexible Bond Europe Corporate 190 Flexible Equity Europe 192 Flexible Multi-Asset 193 Global Environment 194 Green Tigers 195 Human Development 196 Money Market Euro 197 Money Market USD 198 Multi-Asset Income Emerging 199 Real Estate Securities Europe 202 Real Estate Securities Pacific 203 Real Estate Securities World 204 SMaRT Food 205 Step 90 Euro 206 Sustainable Bond Euro 207 Sustainable Bond Euro Corporate 209 Sustainable Bond World Corporate 214 Sustainable Equity Europe 219 Sustainable Equity High Dividend Europe 220 Notes to the financial statements 221 Unaudited appendix 282 No subscription can be received on the basis of the financial statements alone. Subscriptions are only valid if made on the basis of the current prospectus, accompanied by the latest annual report and the most recent semi-annual report, if published thereafter. Page 3

6 Organisation Registered office Until 24 April 2016: 33 Rue de Gasperich, L-5826 Hesperange, Grand Duchy of Luxembourg Since 25 April 2016: 10 Rue Edward Steichen, L-2540 Luxembourg, Grand Duchy of Luxembourg Board of Directors Chairman Mr. Philippe MARCHESSAUX, Chief Executive Officer, BNP Paribas Investment Partners, Paris Members Mr. Marnix ARICKX, Chief Executive Officer, BNP Paribas Investment Partners Belgium, Brussels Mr. Christian DARGNAT, Head of Distributors Business Line, BNP Paribas Investment Partners, Paris (until 25 April 2016) Mrs. Marianne DEMARCHI, Head of Group Networks, BNP Paribas Investment Partners, Paris Mr. Anthony FINAN, Deputy-Head of Distributors Business Line, BNP Paribas Investment Partners, Paris Mr. François HULLO, Head of External Distribution, BNP Paribas Investment Partners, Paris Mr. Christian VOLLE, independent Director, Paris Managing Director Mr. Anthony FINAN, Deputy-Head of Distributors Business Line, BNP Paribas Investment Partners, Paris Company Secretary (non-member of the Board) Mr. Stéphane BRUNET, Chief Executive Officer, BNP Paribas Investment Partners Luxembourg, Luxembourg Management Company BNP Paribas Investment Partners Luxembourg Until 24 April 2016: 33 Rue de Gasperich, L-5826 Hesperange, Grand Duchy of Luxembourg Since 25 April 2016: 10 Rue Edward Steichen, L-2540 Luxembourg, Grand Duchy of Luxembourg BNP Paribas Investment Partners Luxembourg is a Management Company as defined in chapter 15 of the Law of 17 December 2010 concerning undertakings for collective investment, as amended. The Management Company performs the administration, portfolio management and marketing duties. Net asset values calculation, transfer and registrar agent are delegated to: BNP Paribas Securities Services - Luxembourg Branch 60 Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg Page 4

7 Organisation Portfolio management is delegated to: Management entities of the BNP Paribas Group Alfred Berg Kapitalförvaltning AB Nybrokajen 5, SE Stockholm, Sweden BNP Paribas Asset Management S.A.S., 1 Boulevard Haussmann, F Paris, France BNP Paribas Asset Management Brasil Ltda, Av. Juscelino Kubitchek Andar, Sao Paulo SP, Brazil BNP Paribas Investment Partners Asia Ltd., 30/F Three Exchange Square, 8 Connaught Place, Central Hong Kong BNP Paribas Investment Partners Japan Ltd., Gran Tokyo North Tower, 9-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo , Japan BNP Paribas Investment Partners Nederland N.V., Herengracht 595, PO box 71770, NL-1008 DG Amsterdam, The Netherlands BNP Paribas Investment Partners Singapore Limited, 20 Collyer Quay Tung Center #01-01, Singapore BNP Paribas Investment Partners UK Ltd., 5 Aldermanbury Square, London EC2V 7BP, United Kingdom CamGestion S.A., 1 Boulevard Haussmann, F Paris, France Fischer Francis Trees & Watts, Inc., 200 Park Avenue, 11 th floor, New York, NY 10166, USA Shinhan BNP Paribas Asset Management Co. Ltd., 23-2, Yoido Dong Youngdeungpo, Goodmorning Shinhan Tower 18F, Seoul, , Korea TEB Portföy Yönetimi A.Ş., Gayrettepe Mahallesi Yener Sokak n 1 Kat. 9 Besiktas Istanbul, Turkey THEAM S.A.S., 1 Boulevard Haussmann, F Paris, France Management entities not part of the Group: Arnhem Investment Management Pty Ltd., Royal Exchange Building, Level 13, 56 Pitt Street, Sydney NSW 2000, Australia, Manager for the Equity Australia sub-fund Fairpointe Capital LLC., One North Franklin Street, Suite 3300, Chicago, IL 60606, USA, Manager for the Equity USA Mid Cap sub-fund Herndon Capital Management, LLC, 191 Peachtree Street NE, Suite 2500, Atlanta, GA USA, Manager for the Equity USA Value sub-fund Impax Asset Management Limited, Norfolk House, 31 St James s Square, London, SW1Y 4JR, United Kingdom, Manager for the Aqua, Climat Impact, Global Environment and SMaRT Food sub-funds RiverRoad Asset Management, LLC, 462 South Fourth Street, Suite 1600 Louisville, Kentucky , USA, Manager for the Equity High Dividend USA sub-fund Sumitomo Mitsui Asset Management Co. Ltd., Atago Green Hills, Mori Tower, 28F, Atago Minato-ku, Tokyo , Japan, Manager for the Equity Japan Small Cap sub-fund The Company may also seek advice from the following investment advisors: FundQuest Advisor, 1 Boulevard Haussmann, F Paris, France, Advisor on the selection of portfolio managers from outside the Group TEB Portföy Yönetimi A.Ş., Gayrettepe Mahallesi Yener Sokak n 1 Kat. 9 Besiktas Istanbul, Turkey, Advisor for the Equity Europe Emerging sub-fund and the Turkish equity in the Equity Emerging Europe pocket of the Multi-Asset Income Emerging sub-fund Depositary/Paying agent BNP Paribas Securities Services - Luxembourg Branch 60 Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg Guarantor BNP Paribas, 16 Boulevard des Italiens, F Paris, France Page 5

8 Organisation The sub-funds which benefit from a guarantee are Step 80 World Emerging (absorbed on 8 January 2016) and Step 90 Euro, together the Step sub-funds. Auditor PricewaterhouseCoopers, Société coopérative, 2 Rue Gerhard Mercator, B.P. 1443, L-1014 Luxembourg, Grand Duchy of Luxembourg Page 6

9 Information Establishment PARVEST (the Fund, the Company ) is an open-ended investment company (Société d Investissement à Capital Variable SICAV) incorporated under Luxembourg law on 27 March 1990 for an indefinite period. The Company is currently governed by the provisions of Part I of the law of 17 December 2010 governing undertakings for collective investment, as amended, as well as by Directive 2009/65 amended by Directive 2014/91. The Articles of Association have been modified at various times, most recently at the Extraordinary General Meeting on 25 April 2016, published in the Mémorial, Recueil Spécial des Sociétés et Associations on 17 June The latest version of the Articles of Association has been filed with the Trade and Companies Registar of Luxembourg, where any interested party may consult it and obtain a copy. The Company is registered in the Luxembourg Trade and Companies Register under the number B The minimum capital amounts to EUR It is at all times equal to the total net of the various sub-funds. It is represented by fully paid-up shares issued without a designated par value. The capital varies automatically without the notification and specific recording measures required for increases and decreases in the capital of limited companies. Listing The shares of the Company are not listed on a Stock Exchange. Information to the Shareholders Net Asset Values and Dividends Net Assets values are calculated every full bank business day in Luxembourg. The Company publishes the legally required information in the Grand Duchy of Luxembourg and in all other countries where the shares are publicly offered. This information is also available on the website: Financial Year The Company s financial year starts on 1 January and ends on 31 December. Financial Reports The Company publishes an annual report closed on the last day of the financial year, certified by the auditors, as well as a non-certified, semi-annual interim report closed on the last day of the sixth month of the financial year. The Company is authorised to publish a simplified version of the financial report when required. The financial reports of each sub-fund are published in the accounting of the sub-fund, although the consolidated accounts of the Company are expressed in euro. The annual report is made public within four months of the end of the financial year and the interim report within two months of the end of the half-year. Documents for Consultation The Articles of Association, the Prospectus, the KIID and periodic reports may be consulted at the Company s registered office and at the establishments responsible for the Company s financial service. Copies of the Articles of Association and the annual and interim reports are available upon request. Except for the newspaper publications required by Law, the official media to obtain any notice to shareholders from will be the website Documents and information are also available on the website: Page 7

10 Manager's report Economic context A large part of the year saw global growth that was still modest (OECD expectations of 2.9% following growth of 3.1% in 2015), fostering uncertainty over the sustainability of growth and doubts about its ability to withstand any external shocks. The sharp fall in oil at the beginning of the year was interpreted as a sign of weak global activity. The price of oil, which was approaching $25 per barrel early in 2016, increased fairly quickly to $50, after the OPEC countries indicated that they were prepared to talk and reached an agreement to reduce production during the Vienna summit at the end of November. The price of WTI ended the year at $54 per barrel, up 45%. Political issues took centre stage. If the British electorate s Brexit decision in June was destabilising, the consequences of the surprise election of Donald Trump in the United States on 8 November were unexpected. The scenario soon unfolded of a president implementing a fiscal stimulus package to support domestic demand, and showing himself to be pragmatic on the more contentious issues (immigration, trade), sparking a resurgence in the confidence of investors and economic stakeholders. United States After a first half-year where GDP growth was below expectations (year-on-year variations of 0.8% and 1.4% for the 1st and 2nd quarters compared to the previous quarter), the US economy returned to a steadier pace (3.5% in the 3rd quarter). In a climate where the labour market is approaching full employment (with an unemployment rate of 4.7% in December), private consumption seems to be anchored at around 3% a solid, sustainable pace for the US economy. The summer was marked by a slight slowing on the industrial front as demonstrated by the fall of the ISM Manufacturing index (survey of purchasing managers) to below 50 in August. It recovered quickly to close at 54.7 in December, the highest since late The prospects of fiscal stimulus after the election of Donald Trump raised hopes for renewed domestic demand, which translated into a spectacular rise in the confidence of consumers and small companies, which by the end of the year were at their highest levels in 15 and 12 years respectively. Although industrial production, and above all productive investment, are still far from achieving such performances, encouraging factors did emerge. Inflation accelerated but remains contained (1.7% year-onyear in November). Europe After standing at 0.5% in the 1st quarter of 2016, GDP growth came in at 0.3% in the 2nd and 3rd quarters, and the available leading indicators suggest a somewhat more sustained increase in the 4th. Growth of 1.6% is on the horizon, a slight reduction compared to 2015 (+2%) but still a substantial rate. European economies showed themselves to be unexpectedly resilient in a year marked by the British electorate s decision to leave the European Union, the drawn-out process of forming a government in Spain and the Italian electorate s rejection of the proposal to reform the Constitution. As in the United States, the results of activity surveys bounced back after the summer and were particularly sound at the end of the year. In December, the composite PMI index, which summarises the opinion of purchasing managers in the manufacturing and services sectors, was at its highest level since May These factors hold out hope for a solid performance from private consumption (with an unemployment rate once again at a 7-year low) and a more marked recovery of investment expenditure. Monetary policy remained accommodating despite the predicted decline in the volume of monthly asset purchases and the maintenance of low rates will encourage increased private sector lending. The confidence of economic stakeholders will remain a crucial factor in 2017 when political uncertainties could cause them to delay purchasing decisions and, especially, investment expenditure. In December, inflation, which had been negative in the spring, reached its highest level since September 2013, at 1.1% year-onyear (preliminary estimate). This is the result of base effects associated with variations in oil prices and is not indicative of an acceleration in underlying inflation (excluding food and energy), which stood at 0.9% in December. Japan The development of the Japanese economy in 2016 was fairly disappointing, and it is expected to result in average growth lower than that achieved in 2015 (1.2%). The momentum at the end of the period seemed a little more satisfactory with an improvement in the Bank of Japan s economic trends survey (Tankan) in the 4th quarter. The rise in the indices remains modest, however, and companies still seem somewhat cautious about their business outlook in the coming months. Furthermore, although it boosts exports, the depreciation of the yen is still such that domestic purchasing power is limited by imported inflation and could thus impact on domestic demand, which already showed signs of slowing in the 3rd quarter and at the beginning of the 4th. Inflation was negative between April and September (when it fell to -0.5% year-on-year), before recovering by the end of the period (0.5% in November), primarily as a result of an increase in the price of fresh produce due to extreme weather conditions. Underlying inflation slowed quite significantly between the start and end of the year. Page 8

11 Manager's report Despite several initiatives to ease its monetary policy (negative rates, implementation of yield curve controls, adjustment of asset purchases), the Bank of Japan failed to close in on its inflation target (2%) and was forced to push back the timetable by which it expects to achieve this to March Emerging markets With 2015 having seen its lowest growth since the Great Recession of (4% according to the International Monetary Fund), the emerging world continued to record a modest performance which is expected to result in an increase in GDP of 4.2%. The momentum improved, however, towards the end of the period, according to the purchasing managers activity surveys. The aggregated PMI indices once more rose above 50 in the manufacturing and services sectors, reflecting an expansion in economic activity. Growth in China is in line with the government s targets (6.7% in the 3rd quarter), but relies to a great extent on strong credit growth and exceptional measures to support the activity. The authorities repeatedly expressed their intention to provide economic stability and reduce overcapacity. After GDP shrunk by 3.8% in 2015, the deterioration in Brazil came to a halt, but this improvement remained fragile and was to run out of steam by the end of the year. These two examples are a fairly faithful reflection of the rather tentative economic climate in emerging countries, which is affected by specific issues in some cases. The survey of purchasing managers in Mexico is already showing signs of a negative Trump effect, associated with concerns about migration policy and potential protectionist measures. The Indian economy, whose pace of growth was over 7%, was disrupted by the demonetisation of high denomination banknotes, which began in early November and resulted in economic paralysis and a marked decline in confidence indicators. While signs of improvement in global trade are still very tenuous, these events raise doubts about an acceleration in the emerging economies. Monetary policy Expectations of additional easing of the monetary policy of the European Central Bank had been high since the beginning of the year. In March 2016, Mario Draghi announced that monthly asset purchases were being increased from 60 billion to 80 billion and that quantitative easing (QE) was being extended to private bonds issued by high-quality non-bank companies established in the eurozone. Key interest rates were lowered (the main refinancing operations rate to 0%, the marginal lending facility rate to 0.25% and the deposit facility rate to -0.40%). The ECB opted for a holding position in July (after the British referendum) and in September, as the eurozone economy proved rather resilient. During September s press conference, Mario Draghi had indicated that the question of extending QE had not been discussed. In October, he reiterated this idea, this time with regard to a decrease in purchases (or tapering, to adopt the expression used when the Fed gradually reduced its purchases from January 2014). This rumour concerned observers faced with good economic activity and inflation rates that remain low. This is the context in which, on 8 December, the ECB took the markets by surprise by extending the duration of its asset purchase programme by longer than expected ( until the end of December 2017, or beyond, if necessary ) while reducing their monthly purchases from 80 billion to 60 billion from April Furthermore, repayments of maturing securities will be reinvested and technical adjustments offering more flexibility are planned from January: the purchase of shorter-term securities or those with a return below the deposit rate, if necessary. Mario Draghi insisted that the extension of asset purchases allows for a more sustained market presence and, therefore, a more lasting transmission of stimulus measures, and that the decisions taken do not amount to tapering. He specified that the prediction of inflation at 1.7% in 2019 can not really be considered a return to the target of 2%. A significant announcement was that the volume of purchased may be increased if financial conditions become inconsistent with further progress towards a sustained adjustment of the path of inflation. On 16 December 2015, Janet Yellen announced the end of the zero-rate policy in force since It took one year for rates to rise a second time. The target range for the US federal funds rate is now between 0.50% and 0.75%. Expectations had fluctuated for several months in the light of economic indicators and political events. In June, Janet Yellen explicitly stated that the risks associated with the Brexit referendum on the 23rd had affected the decision to maintain the status quo. In hindsight, the verdict of the polls justified such caution. During the summer, differences of opinion emerged between proponents of a rise in interest rates (unemployment rates close to their level of equilibrium and inflation rising gradually towards its target) and those supporting a more cautious approach. The first group seemed to gain ground gradually and a clear line was drawn at the end of August: the case for an increase in the federal funds rate has strengthened. It follows that this diagnosis, supported by solid economic data, resulted in a rise of 25 bps in the key rate on 14 December. In her testimony to Congress on 17 November, the Chair of the Fed confirmed that she plans to remain in post until her term expires in February Some people thought she would resign in the wake of Donald Trump s criticism of her during his campaign. Page 9

12 Manager's report In December, although the official line and growth and inflation forecasts varied only very slightly, attention was focused on the projections regarding the appropriate level of key interest rates, which now involved 3 increases in 2017 as opposed to 2 previously. Janet Yellen played down the significance of this and indicated that inflation of 2% was a goal and not a limit, suggesting that the Fed could temporarily accept a higher level. Foreign exchange markets Several times in 2016, volatility on the foreign exchange market reached levels not seen since The EUR/USD rate fluctuated within a very broad range ( ). A turbulent rise sent it over 1.16 in early May, despite the easing of monetary policy announced in March, with certain observers hoping that would be the ECB s last rate reduction. Between May and October, however, expectations regarding the Fed s actions were behind the variations in the exchange rate. After the Brexit referendum, there was an upsurge in volatility without any specific trends emerging, except on the pound sterling, which recorded a year-on-year fall of 13.9% against the euro and 16.3% against the dollar. Between June and September, the EUR/USD rate fluctuated around 1.12, while USD/JPY parity varied between 100 and 106. The Bank of Japan did not manage to weaken the yen, despite introducing negative rates and unprecedented measures to control the yield curve. The rate did not drop below the threshold of 100 for any considerable length of time, due to statements from the authorities suggesting that intervention on the foreign exchange market was possible if the yen rose too quickly. The election of Donald Trump changed the game and, after some highly erratic movements following the announcement of the result, there was a marked rise in the dollar against most major currencies, in both developed and emerging markets. The dollar reached its highest level since spring 2003 against a basket of currencies, according to data issued by the Bank of England. The rebound of the dollar reflects expectations of stronger economic growth in the US, which could lead the Fed to normalise its monetary policy more quickly. Emerging currencies were penalised by fears that the future president will implement protectionist measures. Furthermore, the pressure on US interest rates weighed on emerging in general. In December, the EUR/USD rate temporarily dropped below 1.04, for the first time since early It ended the year at (-2.8% over twelve months). The USD/JPY rate exceeded 118 (close to its annual high) at the time of the Fed s monetary policy meeting in December that marked the end of excessively low rates in the United States. After some profit-taking, parity ended up at , which corresponds to a rise of 3.0% in the yen against the dollar. Bond markets In the face of turbulence on the equity markets at the beginning of 2016, the US 10-year T-note yield, which stood at 2.27% at the end of 2015, fell sharply below 1.70% in February. The upturn in oil prices restored a certain amount of calm and the US long rates then fluctuated between 1.60% and around 2% until early June, in the light of highly variable expectations on monetary policy. From 3 June, the 10-year rate eased considerably in the wake of the British referendum and the dissipation of expectations of a rise in the Fed s key rates in the near future. Post-Brexit nervousness resulted in the 10-year T-note yield dropping below 1.40% in early July. Thereafter, government bonds reacted to the economic indicators and to comments made by members of the FOMC, finally convincing investors that there would be a rise in interest rates before the end of The 10-year rate fluctuated between 1.55% and 1.65% in September before tightening significantly, firstly due to tensions on European rates then, especially, after the surprise election of Donald Trump. The 10-year T-note yield rose temporarily to its highest level since September 2014 at more than 2.60% the day after the Fed meeting that culminated in an interest rate hike of 25 bps on 14 December. The possibility that a fiscal stimulus programme could be quickly implemented led certain observers to expect more aggressive action from the Fed, while inflation accelerated and the FOMC raised the appropriate rate for the end of The 10-year rate closed at 2.44%, a rise of 17 bps in twelve months. Monetary policy that was not in line with expectations led to an increase in the 2-year rate, which on 15 December recorded its highest level since August 2009, at nearly 1.30%. The German 10-year Bund yield (0.63% at the end of 2015) entered a downward trend at the start of the year, reflecting the monetary policy of the ECB (expectations and announcements) and the flight to safety in the face of challenging equity markets. The German 10-year rate reached 0.11% on 29 February, which was a low point at that time. From March to May, there were strong movements from the effects of profit-taking, when the rate fell beneath this threshold, and fluctuations in the American market. In June, the British referendum had a decisive impact on government bonds, causing the 10-year Bund yield to fall below 0%. It was under -0.20% during trading in early July, with the confusion in the early days post-brexit strengthening the attraction of the Bund as a safe haven and generating expectations of exceptional measures from the ECB. Until September, the German 10-year rate showed no discernible market trend at around -0.10%. The deterioration of the bond market, a feature of the last quarter, was triggered on 4 October by a press article reporting discussions within the ECB of a forthcoming reduction in asset purchases ( tapering ). Page 10

13 Manager's report Despite denials from the ECB, the rates moved outside the range within which they had been fluctuating since the Brexit decision and continued to tighten in November, this time in the wake of their US counterparts. In December, the announcements regarding monetary policy (reduction of monthly asset purchases from April 2017) resulted in the German 10- year Bund yield recording its highest level since January (0.40% on the 12th). The easing at the end of the year, despite solid economic data, is probably a reflection of investors repositioning at levels they consider more favourable. The German Bund yield closed at 0.21%, a reduction of 42 bps in twelve months. Equity markets The year started badly, with concerns about global growth and the Chinese economy (with adjustments of the yuan) and falling oil prices leading to a marked fall in equities in January. Initial discussions between Saudi Arabia and other producers, which proved inconclusive but indicative of a willingness to negotiate, allowed for a rapid rise in oil prices (to nearly $50) which caused stock markets to recover in February and March. This upward trend continued in April and May but, despite a rather favourable economic environment, showed signs of slowing. In June, the referendum in the United Kingdom focused attention and resulted in volatility in European markets reaching an all-time high for the year. The British electorate s decision in favour of leaving the European Union, which emerged during the night of 23 to 24 June, was a shock. The major indices fell sharply on 24 June, before recovering. The swift appointment of Theresa May as prime minister calmed the political situation somewhat (although there are still many questions over the course of the negotiations ahead), and as a result equities recovered in July and thereafter remained relatively stable. Volatility rose once more in the autumn reflecting a certain agitation, while equities increased without taking account of economic fundamentals. From October, skittishness increased as the United States presidential election approached. And the winner was Donald Trump! Very soon after the election, the possibility of a more expansionist fiscal policy, as discussed during the election campaign, caused a marked recovery in equities and the dollar and put pressure on long-term rates. This momentum continued relentlessly, whereas before 8 November, most investors had considered the election of Donald Trump as a risk for the financial markets. These trends slowed somewhat in terms of reduced transaction volumes but equities continued to rise in December, helped by the increase in oil prices in the light of the agreement to reduce production. In 2016, global equities rose by 5.6% (MSCI AC World index in dollars) and emerging markets by 8.6% (MSCI Emerging in dollars), despite a more difficult year-end for emerging, confronted by the rising dollar and the pressure on US interest rates and penalised by fears of increased protectionism. In developed markets, American exchanges recorded a clear outperformance (+9.5% for the S&P 500): with reduced exposure to the consequences of Brexit, they have naturally benefited from the prospects of renewed growth and deregulation after the election. Japanese equities, supported in November and December by the decline of the yen after a turbulent performance, managed to end the year close to break-even (+0.4% for the Nikkei 225 index). In Europe, the Eurostoxx 50 rose 0.7%. The figures mentioned above are fluctuations in the price of the indices in local currencies, excluding dividends reinvested. The Board of Directors Luxembourg, 31 January 2017 Note: The information stated in this report is historical and not necessarily indicative of future performance. Page 11

14 Audit report To the Shareholders of PARVEST We have audited the accompanying financial statements of PARVEST and of each of its sub-funds, which comprise the statement of net and the securities portfolio as at 31 December 2016 and the statement of operations and changes in net for the year then ended, and a summary of significant accounting policies and other explanatory notes to the financial statements. Responsibility of the Board of Directors of the SICAV for the financial statements The Board of Directors of the SICAV is responsible for the preparation and fair presentation of these financial statements in accordance with Luxembourg legal and regulatory requirements relating to the preparation of the financial statements and for such internal control as the Board of Directors of the SICAV determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Responsibility of the Réviseur d entreprises agréé Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the judgment of the Réviseur d entreprises agréé, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the Réviseur d entreprises agréé considers internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors of the SICAV, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. PricewaterhouseCoopers, Société coopérative, 2 rue Gerhard Mercator, B.P. 1443, L-1014 Luxembourg T: , F: , Cabinet de révision agréé. Expert-comptable (autorisation gouvernementale n ) R.C.S. Luxembourg B TVA LU Page 12

15 pwc Opinion In our opinion, the financial statements give a true and fair view of the financial position of PARVEST and of each of its sub-funds as of 31 December 2016, and of the results of their operations and changes in their net for the year then ended in accordance with Luxembourg legal and regulatory requirements relating to the preparation of the financial statements. Other information The Board of Directors of the SICAV is responsible for the other information. The other information comprises the information included in the annual report but does not include the financial statements and our audit report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report this fact. We have nothing to report in this regard. PricewaterhouseCoopers, Societe cooperative Luxembourg, 11 April 2017 Represented by Thierry Blondeau

16 Financial statements at 31/12/2016 Aqua Bond Absolute Return V350 Bond Absolute Return V700 Bond Asia ex-japan Expressed in EUR EUR EUR USD Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio ( ) ( ) Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments Net realised result on: Investments securities ( ) Financial instruments (8 146) ( ) ( ) ( ) Net realised result ( ) Movement on net unrealised gain/(loss) on: Investments securities ( ) (78 496) Financial instruments 0 ( ) ( ) Change in net due to operations ( ) ( ) Net subscriptions/(redemptions) ( ) ( ) Dividends paid ( ) Increase/(Decrease) in net during the year/period ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 14

17 Bond Best Selection World Emerging Bond Euro Bond Euro Corporate Bond Euro Government Bond Euro High Yield Bond Euro Inflation- Linked USD EUR EUR EUR EUR EUR ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (72 097) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 0 ( ) ( ) ( ) ( ) Page 15

18 Financial statements at 31/12/2016 Bond Euro Long Term Bond Euro Medium Term Bond Euro Short Term Bond Euro Short Term Corporate Expressed in EUR EUR EUR EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio ( ) ( ) ( ) Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments Net realised result on: Investments securities ( ) ( ) Financial instruments ( ) (92 079) Net realised result Movement on net unrealised gain/(loss) on: Investments securities ( ) ( ) ( ) ( ) Financial instruments (67 750) ( ) ( ) Change in net due to operations Net subscriptions/(redemptions) ( ) ( ) Dividends paid 8 ( ) 0 0 (745) Increase/(Decrease) in net during the year/period ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 16

19 Bond Europe Emerging Bond JPY Bond RMB Bond USA High Yield Bond USD Bond USD Short Duration EUR JPY USD USD USD USD ( ) ( ) ( ) ( ) ( ) (58 363) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (29 746) 0 ( ) ( ) (18 910) ( ) ( ) ( ) ( ) Page 17

20 Financial statements at 31/12/2016 Bond World Bond World Emerging Bond World Emerging Local Bond World High Yield Expressed in EUR USD USD EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio ( ) ( ) Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments Net realised result on: Investments securities ( ) ( ) ( ) Financial instruments ( ) ( ) Net realised result ( ) Movement on net unrealised gain/(loss) on: Investments securities ( ) Financial instruments ( ) ( ) ( ) Change in net due to operations Net subscriptions/(redemptions) ( ) ( ) ( ) ( ) Dividends paid 8 ( ) ( ) ( ) ( ) Increase/(Decrease) in net during the year/period ( ) ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 18

21 Bond World High Yield Short Duration Bond World Income Bond World Inflation- Linked Climate Impact Commodities Convertible Bond Asia USD EUR EUR EUR USD USD ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (34 887) ( ) (11 474) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (13 709) ( ) ( ) ( ) ( ) (10 507) (7 102) (75 370) ( ) 0 (78 944) ( ) ( ) Page 19

22 Financial statements at 31/12/2016 Convertible Bond Europe Convertible Bond Europe Small Cap Convertible Bond World Covered Bond Euro Expressed in EUR EUR USD EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments ( ) Net realised result on: Investments securities 2 ( ) Financial instruments ( ) Net realised result ( ) ( ) Movement on net unrealised gain/(loss) on: Investments securities ( ) ( ) ( ) (55 536) Financial instruments (57 419) (47 880) Change in net due to operations ( ) ( ) ( ) Net subscriptions/(redemptions) ( ) ( ) ( ) ( ) Dividends paid 8 ( ) ( ) ( ) (54) Increase/(Decrease) in net during the year/period ( ) ( ) ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 20

23 Cross Asset Absolute Return Diversified Dynamic Enhanced Cash 6 Months Equity Asia ex-japan Equity Asia Pacific ex-japan Equity Australia EUR EUR EUR USD EUR AUD ( ) ( ) ( ) ( ) ( ) (76 299) ( ) ( ) ( ) ( ) (13 991) (30 803) ( ) (63 941) ( ) ( ) ( ) ( ) 0 0 ( ) ( ) ( ) ( ) 0 ( ) 0 0 (51 734) ( ) ( ) Page 21

24 Financial statements at 31/12/2016 Equity Best Selection Asia ex- Japan Equity Best Selection Euro Equity Best Selection Europe Equity Best Selection Europe ex-uk Expressed in EUR EUR EUR EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments Net realised result on: Investments securities ( ) Financial instruments ( ) ( ) (11 322) Net realised result Movement on net unrealised gain/(loss) on: Investments securities ( ) ( ) ( ) Financial instruments (1 083) ( ) Change in net due to operations ( ) Net subscriptions/(redemptions) ( ) ( ) ( ) Dividends paid 8 ( ) ( ) ( ) (48 925) Increase/(Decrease) in net during the year/period ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 22

25 Equity Best Selection World Equity Brazil Equity Bric Equity China Equity Europe Emerging Equity Europe Growth USD USD USD USD EUR EUR (21 665) ( ) ( ) ( ) (72 856) (64 871) (33 568) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 0 ( ) (71 784) ( ) ( ) ( ) ( ) ( ) ( ) Page 23

26 Financial statements at 31/12/2016 Equity Europe Mid Cap Equity Europe Small Cap Equity Europe Value Equity Germany Expressed in EUR EUR EUR EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments Net realised result on: Investments securities ( ) Financial instruments ( ) ( ) Net realised result ( ) Movement on net unrealised gain/(loss) on: Investments securities ( ) ( ) ( ) Financial instruments 0 ( ) Change in net due to operations ( ) ( ) ( ) Net subscriptions/(redemptions) ( ) ( ) ( ) ( ) Dividends paid 8 ( ) ( ) (87 886) (61 137) Increase/(Decrease) in net during the year/period ( ) ( ) ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 24

27 Equity High Dividend Pacific Equity High Dividend USA Equity High Dividend World Equity India Equity Indonesia Equity Japan EUR USD USD USD USD JPY ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (16 481) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 0 ( ) ( ) ( ) ( ) ( ) ( ) Page 25

28 Financial statements at 31/12/2016 Equity Japan Small Cap Equity Latin America Equity New Frontiers Equity Nordic Small Cap Expressed in JPY USD USD EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio ( ) ( ) Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments ( ) Net realised result on: Investments securities ( ) Financial instruments ( ) (26 538) (9 906) Net realised result ( ) Movement on net unrealised gain/(loss) on: Investments securities ( ) ( ) Financial instruments (49 168) Change in net due to operations ( ) Net subscriptions/(redemptions) ( ) Dividends paid 8 ( ) ( ) 0 (29 921) Increase/(Decrease) in net during the year/period Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 26

29 Equity Russia Equity Russia Opportunities Equity South Korea Equity Turkey Equity USA Equity USA Growth EUR USD USD EUR USD USD ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (73 374) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (6 329) ( ) (85 708) ( ) ( ) ( ) ( ) ( ) Page 27

30 Financial statements at 31/12/2016 Equity USA Mid Cap Equity USA Small Cap Equity USA Value Equity World Consumer Durables Expressed in USD USD USD EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments ( ) ( ) ( ) ( ) Net realised result on: Investments securities 2 ( ) ( ) Financial instruments ( ) ( ) ( ) (36 299) Net realised result ( ) ( ) Movement on net unrealised gain/(loss) on: Investments securities Financial instruments (3 365) Change in net due to operations Net subscriptions/(redemptions) ( ) ( ) ( ) Dividends paid 8 ( ) ( ) ( ) ( ) Increase/(Decrease) in net during the year/period ( ) ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 28

31 Equity World Emerging Equity World Emerging Low Volatility Equity World Emerging Small Cap Equity World Energy Equity World Finance Equity World Health Care USD USD USD EUR EUR EUR ( ) ( ) ( ) ( ) ( ) ( ) (18 626) (547) (15 257) (19 256) ( ) ( ) ( ) ( ) (1 944) 0 (25) (51 195) ( ) (42 890) ( ) ( ) (47 531) 0 ( ) ( ) ( ) ( ) Page 29

32 Financial statements at 31/12/2016 Equity World Low Volatility Equity World Materials Equity World Technology Equity World Telecom Expressed in EUR EUR EUR EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments (95 404) ( ) Net realised result on: Investments securities Financial instruments ( ) (6 635) (27 020) Net realised result Movement on net unrealised gain/(loss) on: Investments securities ( ) Financial instruments Change in net due to operations Net subscriptions/(redemptions) ( ) ( ) ( ) ( ) Dividends paid 8 ( ) ( ) ( ) ( ) Increase/(Decrease) in net during the year/period ( ) ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 30

33 Equity World Utilities Flexible Bond Euro Flexible Bond Europe Corporate Flexible Equity Europe Flexible Multi-Asset Global Environment EUR EUR EUR EUR EUR EUR ( ) (33 327) ( ) ( ) (64 378) ( ) (8 474) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 0 0 (15 272) 0 ( ) ( ) ( ) ( ) Page 31

34 Financial statements at 31/12/2016 Green Tigers Human Development Money Market Euro Money Market USD Expressed in EUR EUR EUR USD Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments ( ) Net realised result on: Investments securities 2 ( ) ( ) Financial instruments (20 819) 16 5 Net realised result ( ) ( ) ( ) Movement on net unrealised gain/(loss) on: Investments securities ( ) Financial instruments 0 0 (1 216) 0 Change in net due to operations ( ) ( ) Net subscriptions/(redemptions) ( ) ( ) Dividends paid 8 ( ) 0 0 ( ) Increase/(Decrease) in net during the year/period ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 32

35 Multi-Asset Income Emerging Multi-Strategy Low Vol Multi-Strategy Medium Vol Multi-Strategy Medium Vol (USD) Opportunities World Real Estate Securities Europe USD EUR EUR USD EUR EUR (63 930) ( ) (23 440) ( ) ( ) ( ) ( ) ( ) (52 589) ( ) ( ) ( ) ( ) ( ) (19 350) ( ) (29 208) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (3 217) ( ) ( ) ( ) ( ) ( ) Page 33

36 Financial statements at 31/12/2016 Real Estate Securities Pacific Real Estate Securities World SMaRT Food Step 80 World Emerging Expressed in EUR EUR EUR EUR Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments (4 298) Net realised result on: Investments securities ( ) ( ) Financial instruments (20 310) (18 996) Net realised result ( ) Movement on net unrealised gain/(loss) on: Investments securities Financial instruments (88 949) Change in net due to operations (6 139) Net subscriptions/(redemptions) ( ) ( ) ( ) Dividends paid 8 ( ) ( ) (5 426) 0 Increase/(Decrease) in net during the year/period ( ) ( ) ( ) Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period Page 34

37 Step 90 Euro Sustainable Bond Euro Sustainable Bond Euro Corporate Sustainable Bond World Corporate Sustainable Equity Europe Sustainable Equity High Dividend Europe EUR EUR EUR USD EUR EUR ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (14 860) ( ) ( ) 0 (41 661) ( ) (38) ( ) ( ) ( ) ( ) ( ) Page 35

38 Financial statements at 31/12/2016 Consolidated Expressed in Notes Statement of net Assets Securities portfolio at cost price Unrealised gain/(loss) on securities portfolio Securities portfolio at market value Options at market value 2, Net Unrealised gain on financial instruments 2,11,12, Cash at banks and time deposits Other Liabilities Options at market value 2, Bank overdrafts Net Unrealised loss on financial instruments 2,11,12, Other liabilities Net asset value Statement of operations and changes in net Income on investments and Management and advisory fees Bank interest Interest on swaps Other fees Taxes Performance fees Distribution fees Transaction fees Total expenses Net result from investments Net realised result on: Investments securities Financial instruments ( ) Net realised result Movement on net unrealised gain/(loss) on: Investments securities Financial instruments Change in net due to operations Net subscriptions/(redemptions) Dividends paid 8 ( ) Increase/(Decrease) in net during the year/period Net at the beginning of the financial year/period Reevaluation of opening consolidated NAV Net at the end of the financial year/period EUR Page 36

39 Key figures relating to the last 3 years (Note 9) Aqua EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Bond Absolute Return V350 EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH CZK - Capitalisation Share Classic RH SEK - Capitalisation Share Classic RH USD - Capitalisation Share I - Capitalisation Share I RH CHF - Capitalisation Share I RH SEK - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond Absolute Return V700 USD EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic MD - Distribution Share Classic RH CZK - Capitalisation Share Classic RH SEK - Capitalisation Share Classic RH USD - Capitalisation Share I - Capitalisation Share I RH SEK - Capitalisation Share I RH USD - Capitalisation Share N - Capitalisation Share Privilege RH USD - Capitalisation Share X - Capitalisation Page 37

40 Key figures relating to the last 3 years (Note 9) Bond Asia ex-japan USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic MD - Distribution Share Classic RH AUD MD - Distribution Share Classic RH EUR - Capitalisation Share Classic RH SGD MD - Distribution Share I - Capitalisation Share I RH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege MD - Distribution Share X - Capitalisation Bond Best Selection World Emerging USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic MD - Distribution Share Classic RH EUR - Capitalisation Share Classic RH EUR - Distribution Share I - Capitalisation * Share I RH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege RH EUR - Distribution Share X - Capitalisation Bond Euro EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation * This share class has been desactivated during the year and reactivated as at a level of NAV/share of 100. Page 38

41 Key figures relating to the last 3 years (Note 9) Bond Euro Corporate EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H CZK - Capitalisation Share Classic MD - Distribution Share I - Capitalisation Share I - Distribution Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond Euro Government EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond Euro High Yield EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H USD - Capitalisation Share Classic H USD MD - Distribution Share Classic MD - Distribution Share I - Capitalisation Share I - Distribution Share IH NOK - Capitalisation Share N - Distribution Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond Euro Inflation-Linked EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 39

42 Key figures relating to the last 3 years (Note 9) Bond Euro Long Term EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond Euro Medium Term EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Bond Euro Short Term EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond Euro Short Term Corporate EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond Europe Emerging EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 40

43 Key figures relating to the last 3 years (Note 9) Bond JPY JPY JPY JPY Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Bond RMB USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share I - Capitalisation Bond USA High Yield USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H AUD MD - Distribution Share Classic H EUR - Capitalisation Share Classic MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond USD USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond USD Short Duration USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic H EUR - Capitalisation Share Classic MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Page 41

44 Key figures relating to the last 3 years (Note 9) Bond World EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond World Emerging USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic H AUD MD - Distribution Share Classic MD - Distribution Share I - Capitalisation Share I - Distribution Share IH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond World Emerging Local USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic GBP - Distribution Share Classic HUF - Capitalisation Share Classic MD - Distribution Share Classic RH EUR - Capitalisation Share Classic RH EUR - Distribution Share Classic RH SGD MD - Distribution Share I - Capitalisation Share I - Distribution Share I RH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 42

45 Key figures relating to the last 3 years (Note 9) Bond World High Yield EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H AUD MD - Distribution Share Classic H CZK - Capitalisation Share Classic H USD - Capitalisation Share Classic H USD - Distribution Share Classic H USD MD - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share Classic USD MD - Distribution Share I - Capitalisation Share IH USD - Capitalisation Share N - Distribution Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond World High Yield Short Duration USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H EUR - Capitalisation Share I - Capitalisation Share IH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Bond World Income EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH USD - Capitalisation Share Classic RH USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege RH USD - Capitalisation Share Privilege RH USD - Distribution Share X - Capitalisation Page 43

46 Key figures relating to the last 3 years (Note 9) Bond World Inflation-Linked EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Climate Impact EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Commodities USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic H CZK - Capitalisation Share Classic H EUR - Capitalisation Share Classic H EUR - Distribution Share Classic HUF - Capitalisation Share Classic SGD - Capitalisation Share I - Capitalisation Share IH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege H EUR - Capitalisation Share X - Capitalisation Convertible Bond Asia USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 44

47 Key figures relating to the last 3 years (Note 9) Convertible Bond Europe EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share I - Distribution Share IH EUR - Distribution Share N - Distribution Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Convertible Bond Europe Small Cap EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share I - Distribution Share N - Distribution Share Privilege - Capitalisation Share X - Capitalisation Convertible Bond World EUR USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH CHF - Capitalisation Share Classic RH CZK - Capitalisation Share Classic RH EUR - Capitalisation Share Classic RH EUR - Distribution Share Classic RH PLN - Distribution Share I - Capitalisation Share I RH EUR - Capitalisation Share I RH EUR - Distribution Share I RH NOK - Capitalisation Share N - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege RH EUR - Capitalisation Share Privilege RH EUR - Distribution Share X - Capitalisation Covered Bond Euro EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 45

48 Key figures relating to the last 3 years (Note 9) Cross Asset Absolute Return EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic RH USD - Capitalisation Share I - Capitalisation Share I RH USD - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Diversified Dynamic EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH USD MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Enhanced Cash 6 Months EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share I - Distribution Share Life - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity Asia ex-japan USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Equity Asia Pacific ex-japan EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 46

49 Key figures relating to the last 3 years (Note 9) Equity Australia AUD AUD AUD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity Best Selection Asia ex-japan EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH AUD - Capitalisation Share Classic RH SGD - Capitalisation Share Classic RH USD - Capitalisation Share Classic USD - Capitalisation Share Classic USD - Distribution Share I - Capitalisation Share I USD - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity Best Selection Euro EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H CZK - Capitalisation Share Classic H HUF - Capitalisation Share Classic H SGD - Capitalisation Share Classic H USD - Capitalisation Share Classic USD - Capitalisation Share I - Capitalisation Share I - Distribution Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 47

50 Key figures relating to the last 3 years (Note 9) Equity Best Selection Europe EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic CHF - Capitalisation Share Classic CHF - Distribution Share Classic RH HUF - Capitalisation Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity Best Selection Europe ex-uk EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share I GBP - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity Best Selection World USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic RH NOK - Capitalisation Share I - Capitalisation Share Life EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity Brazil USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Page 48

51 Key figures relating to the last 3 years (Note 9) Equity Bric USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity China USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity Europe Emerging EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity Europe Growth EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH SGD - Capitalisation Share Classic RH SGD MD - Distribution Share Classic RH USD - Capitalisation Share Classic RH USD MD - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 49

52 Key figures relating to the last 3 years (Note 9) Equity Europe Mid Cap EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity Europe Small Cap EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH SGD - Capitalisation Share Classic RH USD - Capitalisation Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity Europe Value EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity Germany EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 50

53 Key figures relating to the last 3 years (Note 9) Equity High Dividend Pacific EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share Classic USD MD - Distribution Share I - Capitalisation Share N - Distribution Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege USD - Capitalisation Share Privilege USD MD - Distribution Share X - Capitalisation Equity High Dividend USA USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic H EUR - Capitalisation Share Classic H EUR - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege H EUR - Distribution Share X - Capitalisation Equity High Dividend World USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity India USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 51

54 Key figures relating to the last 3 years (Note 9) Equity Indonesia USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege EUR - Capitalisation Share X - Capitalisation Equity Japan JPY JPY JPY Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic H EUR - Capitalisation Share Classic H USD - Capitalisation Share Classic USD - Capitalisation Share I - Capitalisation Share IH USD - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege H EUR - Capitalisation Share X - Capitalisation Equity Japan Small Cap JPY JPY JPY Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic H EUR - Capitalisation Share Classic H USD - Capitalisation Share I - Capitalisation Share IH USD - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege H EUR - Capitalisation Share X - Capitalisation Equity Latin America USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Page 52

55 Key figures relating to the last 3 years (Note 9) Equity New Frontiers USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity Nordic Small Cap EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H NOK - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity Russia EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share Classic USD MD - Distribution Share I - Capitalisation Share I - Distribution Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege GBP - Distribution Share Privilege USD - Capitalisation Share X - Capitalisation Equity Russia Opportunities USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Page 53

56 Key figures relating to the last 3 years (Note 9) Equity South Korea USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity Turkey EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity USA USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic H EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege H EUR - Capitalisation Share X - Capitalisation Equity USA Growth USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic H CZK - Capitalisation Share Classic H EUR - Capitalisation Share Classic H EUR - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 54

57 Key figures relating to the last 3 years (Note 9) Equity USA Mid Cap USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic H EUR - Capitalisation Share Classic H SGD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege H EUR - Capitalisation Share X - Capitalisation Equity USA Small Cap USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic H EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity USA Value USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic H EUR - Capitalisation Share Classic H EUR - Distribution Share Classic H GBP - Distribution Share Classic HUF - Capitalisation Share I - Capitalisation Share IH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share Privilege EUR - Capitalisation Share Privilege H EUR - Capitalisation Share Privilege H EUR - Distribution Share X - Capitalisation Page 55

58 Key figures relating to the last 3 years (Note 9) Equity World Consumer Durables EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Emerging USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Emerging Low Volatility USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic CZK - Capitalisation Share Classic EUR - Capitalisation Share I - Capitalisation Share I EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Equity World Emerging Small Cap USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Page 56

59 Key figures relating to the last 3 years (Note 9) Equity World Energy EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Finance EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Health Care EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Low Volatility EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic CZK - Capitalisation Share Classic USD - Capitalisation Share Classic USD - Distribution Share Classic USD MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 57

60 Key figures relating to the last 3 years (Note 9) Equity World Materials EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Technology EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Telecom EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Equity World Utilities EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share Classic USD MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 58

61 Key figures relating to the last 3 years (Note 9) Flexible Bond Euro EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Flexible Bond Europe Corporate EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic CHF - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Flexible Equity Europe EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share IH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Flexible Multi-Asset EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH CZK - Capitalisation Share I - Capitalisation Share I RH GBP - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Page 59

62 Key figures relating to the last 3 years (Note 9) Global Environment EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Green Tigers EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Human Development EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Money Market Euro EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 60

63 Key figures relating to the last 3 years (Note 9) Money Market USD USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Multi-Asset Income Emerging USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share Classic EUR - Distribution Share Classic HKD MD - Distribution Share Classic MD - Distribution Share Classic RH AUD MD - Distribution Share Classic RH CNH MD - Distribution Share Classic RH SGD MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege EUR - Distribution Share X - Capitalisation Multi-Strategy Low Vol EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Multi-Strategy Medium Vol EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 61

64 Key figures relating to the last 3 years (Note 9) Multi-Strategy Medium Vol (USD) USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic EUR - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Opportunities World EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Real Estate Securities Europe EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Real Estate Securities Pacific EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share Classic USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 62

65 Key figures relating to the last 3 years (Note 9) Real Estate Securities World EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic USD - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation SMaRT Food EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Step 80 World Emerging EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Step 90 Euro EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Sustainable Bond Euro EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H USD - Capitalisation Share Classic H USD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Page 63

66 Key figures relating to the last 3 years (Note 9) Sustainable Bond Euro Corporate EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H CHF - Capitalisation Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation Sustainable Bond World Corporate USD USD USD Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic H EUR - Capitalisation Share I - Capitalisation Share IH EUR - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation Sustainable Equity Europe EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share X - Capitalisation * Sustainable Equity High Dividend Europe EUR EUR EUR Number of shares 31/12/ /12/ /12/ /12/2016 Net Net asset value per share Share Classic - Capitalisation Share Classic - Distribution Share Classic RH USD MD - Distribution Share I - Capitalisation Share N - Capitalisation Share Privilege - Capitalisation Share Privilege - Distribution Share X - Capitalisation * This share class has been desactivated during the year and reactivated as at a level of NAV/share of 100. Page 64

67 Aqua Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ADVANCED DRAINAGE SYSTEMS INC USD AGILENT TECHNOLOGIES INC USD AMERICAN WATER WORKS CO INC USD AQUA AMERICA INC USD BADGER METER INC USD CALIFORNIA WATER SERVICE GRP USD DANAHER CORP USD ECOLAB INC USD FLOWSERVE CORP USD FRANKLIN ELECTRIC CO INC USD HD SUPPLY HOLDINGS INC USD IDEX CORP USD ITRON INC USD LINDSAY CORP USD MUELLER WATER PRODUCTS INC - A USD PERKINELMER INC USD POOL CORP USD REXNORD CORP USD ROPER TECHNOLOGIES INC USD SMITH (A.O.) CORP USD TORO CO USD TRIMBLE INC USD WATTS WATER TECHNOLOGIES - A USD XYLEM INC USD United Kingdom HALMA PLC GBP PENNON GROUP PLC GBP PENTAIR PLC USD SEVERN TRENT PLC GBP SPIRAX-SARCO ENGINEERING PLC GBP UNITED UTILITIES GROUP PLC GBP Switzerland FISCHER (GEORG) - REG CHF GEBERIT AG - REG CHF SIKA AG - BR CHF WOLSELEY PLC GBP France SUEZ EUR VEOLIA ENVIRONNEMENT EUR Japan HORIBA LTD JPY KUBOTA CORP JPY SEKISUI CHEMICAL CO LTD JPY Hong Kong BEIJING ENTERPRISES WATER GR HKD CHINA EVERBRIGHT INTERNATIONAL LTD HKD GUANGDONG INVESTMENT LTD HKD The Netherlands AALBERTS INDUSTRIES NV EUR ARCADIS NV EUR Germany NORMA GROUP SE EUR SARTORIUS AG - VORZUG EUR South Korea COWAY CO LTD KRW Finland KEMIRA OYJ EUR Brazil CIA SANEAMENTO BASICO DE - ADR USD Total securities portfolio Page 65

68 Bond Absolute Return V350 Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ALLY FINANCIAL 5.500% 12-15/02/2017 USD AMERICAN EXPRESS 1.800% 15-31/07/2018 USD AMERICAN TOWER 3.400% 13-15/02/2019 USD AMERICAN TOWER 3.500% 13-31/01/2023 USD ANHEUSER - BUSCH 1.900% 16-01/02/2019 USD AT&T INC 2.625% 12-01/12/2022 USD AT&T INC 5.500% 08-01/02/2018 USD BANK OF AMERICA CORP 2.600% /01/2019 USD BANK OF AMERICA CORP 3.875% /08/2025 USD BERKSHIRE HATHAWAY 5.150% /11/2043 USD BOSTON PROPERTIES LP 3.700% /11/2018 USD CENTURY TEL ENTP 6.000% 07-01/04/2017 USD CF INDUSTRIES IN 6.875% 10-01/05/2018 USD CISCO SYSTEMS 1.400% 16-28/02/2018 USD CIT GROUP INC 5.250% 12-15/03/2018 USD CITIGROUP INC 1.750% 13-01/05/2018 USD CITIGROUP INC 2.050% 15-07/12/2018 USD CITIGROUP INC 2.550% 14-08/04/2019 USD COMM 2014-UBS5 D 3.495% 14-10/09/2047 USD COMM 2015-CR24 D 3.463% 15-10/08/2048 USD CONOCOPHILLIPS CO 2.400% 12-15/12/2022 USD CONOCOPHILLIPS CO 5.750% 09-01/02/2019 USD CONSTELLATION BR 7.250% 07-15/05/2017 USD CPS 2013-A E 6.410% 13-15/06/2020 USD CPS 2014-D E 6.210% 14-15/02/2022 USD CPS 2015-C E 6.540% 15-16/08/2021 USD CPS 2016-A E 7.650% 16-15/12/2021 USD CVS HEALTH CORP 1.900% 15-20/07/2018 USD DIAMOND 1 FIN/DI 3.480% 16-01/06/2019 USD DISCOVER BANK 2.600% 15-13/11/2018 USD DISH DBS CORP 4.625% 12-15/07/2017 USD DTAOT A D 5.430% 16-15/11/2022 USD EART A D 4.930% 14-15/12/2020 USD EMC CORP 1.875% 13-01/06/2018 USD EMERA US FINANCE 2.150% 16-15/06/2019 USD ENERGY TRAN PTNR 2.500% 15-15/06/2018 USD ENTERPRISE PRODU 1.650% 15-07/05/2018 USD FHR 3237 BO 0.000% 06-15/11/2036 USD FHR 3703 DI 4.000% 10-15/07/2029 USD FHR 3759 DI 4.000% 10-15/10/2029 USD FHR 4031 PI 4.000% 12-15/03/2042 USD FHR 4116 ID 4.000% 12-15/08/2042 USD FHR 4135 BI 4.500% 12-15/11/2042 USD FHR 4197 IG 4.000% 13-15/04/2043 USD FHR 4253 IA 5.000% 13-15/08/2041 USD FHS 303 C % 13-15/01/2043 USD FHS 304 C % 13-15/12/2042 USD FHS 324 C % 14-15/12/2033 USD FHS 324 C % 14-15/12/2043 USD FHS 329 C % 14-15/03/2044 USD FHS 329 C % 14-15/03/2044 USD FNR IC 4.500% 10-25/05/2030 USD FNR GI 5.000% 11-25/05/2040 USD FNR MI 4.500% 12-25/12/2040 USD FNR IY 4.500% 12-25/11/2041 USD FNR YI 3.000% 13-25/05/2033 USD FNR NY 2.000% 13-25/02/2033 USD FNR IL 3.000% 13-25/06/2033 USD FNR CI 3.000% 13-25/07/2033 USD FNR GI 4.000% 14-25/09/2034 USD FNS % 03-25/12/2033 USD FNS 390 C % 08-25/12/2034 USD FNS 401 C % 09-25/10/2039 USD FNS % 09-25/11/2039 USD FNS % 11-25/03/2041 USD FNS 409 C % 12-25/04/2042 USD FORD MOTOR CRED 2.375% 14-12/03/2019 USD FRESENIUS MEDICAL 6.875% 08-15/07/2017 USD GEN MOTORS FIN 2.400% 15-10/04/2018 USD GEN MOTORS FIN 4.375% 14-25/09/2021 USD GENERAL MOTORS CO 3.500% /10/2018 USD GFAST A 3.270% 15-15/11/2018 USD GNR IQ 5.000% 09-20/10/2038 USD GNR KI 4.000% 10-16/10/2024 USD GNR GI 5.000% 10-16/06/2036 USD GNR GI 4.500% 10-20/05/2039 USD GNR NI 6.000% 11-16/04/2041 USD GNR EI 6.000% 11-20/04/2041 USD GNR MI 5.000% 12-16/04/2042 USD GNR IA 4.000% 13-20/03/2043 USD GNR IE 4.000% 14-20/04/2042 USD GNR IO 4.000% 15-20/06/2045 USD GOLDMAN SACHS GP 2.000% 16-25/04/2019 USD GOLDMAN SACHS GP 2.625% 14-31/01/2019 USD GOLDMAN SACHS GP 2.900% 13-19/07/2018 USD GOLDMAN SACHS GP 4.000% 14-03/03/2024 USD GSMS 2015-GC32 D 3.345% 15-10/07/2048 USD GSR F 2A % 05-25/09/2035 USD HOME DEPOT INC 2.250% 13-10/09/2018 USD HP ENTERPRISE 2.850% 15-05/10/2018 USD HP ENTERPRISE 3.600% 15-15/10/2020 USD HUNTINGTON BANCS 2.600% 13-02/08/2018 USD HUNTINGTON NATL 2.000% 15-30/06/2018 USD INTL LEASE FIN 7.125% 10-01/09/2018 USD KIMCO REALTY 4.300% 10-01/02/2018 USD KRAFT FOODS GROUP 6.125% /08/2018 USD LENNAR CORP 4.750% 13-15/12/2017 USD MALT A % 04-25/07/2034 USD MARATHON OIL CORP 5.900% 08-15/03/2018 USD MORGAN STANLEY 2.450% 16-01/02/2019 USD MORGAN STANLEY 5.000% 13-24/11/2025 USD MSSTR B % 04-25/08/2032 USD NEWELL RUBBERMAID 2.600% /03/2019 USD PEPSICO INC 5.000% 08-01/06/2018 USD PLAINS ALL AMER 3.650% 12-01/06/2022 USD PNC BANK NA 1.500% 14-18/10/2017 USD REGIONS BK ALAB 2.250% 15-14/09/2018 USD SKOP A B 5.430% 15-15/12/2023 USD SPRINT NEXTEL 9.000% 11-15/11/2018 USD SYSCO CORP 1.900% 16-01/04/2019 USD TARGET CORP 6.000% 08-15/01/2018 USD TIME WARNER CABLE 6.750% 08-01/07/2018 USD US TREASURY N/B 3.375% 14-15/05/2044 USD US TSY INFL IX N/B 0.125% 14-15/07/2024 USD US TSY INFL IX N/B 0.625% 11-15/07/2021 USD Page 66

69 Bond Absolute Return V350 Expressed in EUR US TSY INFL IX N/B 1.000% 16-15/02/2046 USD VERIZON COMMUNICATIONS INC 3.650% /09/2018 USD VERIZON COMMUNICATIONS INC 5.150% /09/2023 USD VOLT 2015-NPL9 A % 15-26/06/2045 USD WELLS FARGO & CO 1.500% 12-16/01/2018 USD WFCM 2015-P2 AS 4.013% 15-15/12/2048 USD WLAKE A E 5.050% 15-15/03/2022 USD Italy INTESA SANPAOLO 3.875% 13-15/01/2019 USD ITALY BTPS 0.700% 15-01/05/2020 EUR ITALY BTPS 2.700% 16-01/03/2047 EUR ITALY BTPS 5.500% 12-01/09/2022 EUR The Netherlands ABN AMRO BANK NV 2.250% 13-11/09/2017 GBP DAIMLER INTL FINANCE 3.500% /06/2019 GBP MONDELEZ INTERNATIONAL INC 1.625% /10/2019 USD NETHERLANDS GOVERNMENT 2.250% /07/2022 EUR TEVA PHARMACEUT 1.700% 16-19/07/2019 USD Norway NORWEGIAN GOVT 1.750% 15-13/03/2025 NOK Canada CANADA-GOVT 1.500% 15-01/06/2026 CAD Mexico MEXICAN BONOS % 05-05/12/2024 MXN MEXICAN BONOS 7.750% 11-29/05/2031 MXN United Kingdom BP CAPITAL PLC 1.676% 16-03/05/2019 USD BP CAPITAL PLC 3.245% 12-06/05/2022 USD UK TSY GILT 4.500% 08-07/03/2019 GBP UK TSY I/L GILT 0.125% 15-22/03/2026 GBP Singapore SINGAPORE GOVT 1.250% 16-01/10/2021 SGD Germany BASF SE 1.375% 14-15/12/2017 GBP DT PFANDBRIEFBAN 1.875% 12-20/12/2019 GBP France FRANCE O.A.T % 09-25/10/2019 EUR ORANGE 8.000% 02-20/12/2017 GBP Spain GAS NATURAL CAP 6.375% 09-09/07/2019 EUR Luxembourg ACTAVIS FUNDING 2.450% 14-15/06/2019 USD Sweden SWEDISH GOVERNMENT 4.250% 07-12/03/2019 SEK Floating rate bonds United States of America AHM A 04-25/10/2034 FRN USD BACM 2016-UB10 C 16-15/06/2049 FRN USD CAS 2014-C02 2M /05/2024 FRN USD CAS 2015-C02 2M /05/2025 FRN USD CAS 2015-C03 2M /07/2025 FRN USD CAS 2015-C04 2M /04/2028 FRN USD CDMC B /05/2034 FRN USD CGCMT 2015-P1 C 15-15/09/2048 FRN USD COMM 2014-CR17 C 14-10/05/2047 FRN USD COMM 2014-CR17 E 14-10/05/2047 FRN USD COMM 2014-LC15 C 14-10/04/2047 FRN USD COMM 2015-CR25 C 15-10/08/2048 FRN USD CWL AF /10/2035 FRN USD FHR 3311 IA 07-15/05/2037 FRN USD FHR 3311 IB 07-15/05/2037 FRN USD FHR 3807 WS 11-15/08/2038 FRN USD FHR 3928 SH 11-15/08/2040 FRN USD FHR 3990 SG 12-15/01/2042 FRN USD FHR 3994 AS 12-15/02/2042 FRN USD FHR 3994 HS 12-15/02/2042 FRN USD FHR 3994 JS 12-15/03/2040 FRN USD FHR 4092 HS 12-15/08/2042 FRN USD FHR 4143 MS 12-15/12/2042 FRN USD FHR 4223 DS 13-15/12/2038 FRN USD FHR 4259 SA 13-15/10/2043 FRN USD FHR 4494 SJ 15-15/07/2045 FRN USD FHS 311 S /08/2043 FRN USD FNR SE 04-25/10/2033 FRN USD FNR AS 05-25/11/2035 FRN USD FNR QI 05-25/12/2035 FRN USD FNR SQ 05-25/03/2035 FRN USD FNR SY 05-25/04/2035 FRN USD FNR SA 05-25/08/2025 FRN USD FNR SW 06-25/06/2036 FRN USD FNR UI 06-25/07/2036 FRN USD FNR WN 06-25/03/2036 FRN USD FNR SN 09-25/01/2040 FRN USD FNR SK 10-25/06/2038 FRN USD FNR SB 12-25/09/2042 FRN USD FNR CS 12-25/10/2042 FRN USD FNR SC 12-25/10/2042 FRN USD FNR LS 12-25/03/2042 FRN USD FNR S 12-25/03/2042 FRN USD FNR S 12-25/01/2043 FRN USD FNR HS 12-25/03/2042 FRN USD FNR SD 12-25/03/2042 FRN USD FNR KS 12-25/04/2040 FRN USD FNR SQ 12-25/04/2042 FRN USD FNR ES 12-25/02/2041 FRN USD FNR KS 12-25/03/2041 FRN USD FNR DS 13-25/11/2038 FRN USD FNR SA 13-25/07/2043 FRN USD FNR SK 14-25/12/2041 FRN USD FNR AS 15-25/08/2045 FRN USD FNS /08/2043 FRN USD FNW 2004-W1 1IO /11/2043 FRN USD FREMF 2012-K22 C 12-25/08/2045 FRN USD FREMF 2014-K41 B 14-25/11/2047 FRN USD FREMF 2015-K48 B 15-25/08/2048 FRN USD FREMF 2016-K53 C 16-25/03/2049 FRN USD FREMF 2016-K55 B 16-25/04/2049 FRN USD FREMF 2016-K60 B 16-25/12/2049 FRN USD FREMF 2016-KF25 B 16-25/09/2023 FRN USD GNR S 03-20/10/2033 FRN USD GNR SD 04-20/10/2034 FRN USD GNR QS 05-16/07/2034 FRN USD GNR SN 05-20/03/2032 FRN USD GNR SG 05-20/06/2035 FRN USD GNR S 06-20/02/2036 FRN USD Page 67

70 Bond Absolute Return V350 Expressed in EUR GNR SA 06-20/12/2036 FRN USD GNR BS 09-16/04/2032 FRN USD GNR S 10-16/09/2040 FRN USD GNR SK 10-16/05/2040 FRN USD GNR GS 10-16/12/2039 FRN USD GNR SA 10-20/07/2040 FRN USD GNR 2010-H19 JI 10-20/08/2060 FRN USD GNR SH 11-20/09/2041 FRN USD GNR HS 11-20/10/2041 FRN USD GNR NS 11-16/04/2040 FRN USD GNR 2011-H03 HI 11-20/01/2061 FRN USD GNR 2011-H05 HI 11-20/01/2061 FRN USD GNR SK 12-16/01/2041 FRN USD GNR SK 12-20/05/2042 FRN USD GNR 2012-H02 AI 12-20/01/2062 FRN USD GNR SA 13-20/05/2028 FRN USD GNR 2013-H01 FI 13-20/01/2063 FRN USD GNR 2013-H04 BI 13-20/02/2063 FRN USD GNR HS 14-20/08/2044 FRN USD GNR AS 14-20/09/2044 FRN USD GNR HS 14-20/09/2044 FRN USD GNR IT 14-20/02/2040 FRN USD IMSA A /03/2033 FRN USD INTL LEASE FIN 11-15/03/2017 FRN USD JOHN DEERE CAP 15-01/03/2017 FRN USD JPMBB 2015-C30 AS 15-15/07/2048 FRN USD JPMMT 2007-A1 4A /07/2035 FRN USD JPMMT 2007-A1 4A /07/2035 FRN USD MASTR B /02/2034 FRN USD METLIFE INC 14-15/12/2017 FRN USD MSBAM 2014-C18 C 14-15/10/2047 FRN USD MSBAM 2015-C24 C 15-15/08/2047 FRN USD PFMLT A /05/2035 FRN USD STACR 2014-HQ2 M /09/2024 FRN USD STACR 2016-DNA2 M /10/2028 FRN USD SURF 2003-BC4 A3B 03-25/11/2034 FRN USD VENDE A 1IO 94-15/09/2024 FRN USD VENDE DI 10-15/04/2040 FRN USD VENDE IO 11-15/10/2041 FRN USD WELLS FARGO & CO 14-08/09/2017 FRN USD WFMBS 2005-AR14 A /08/2035 FRN USD Cayman Islands AMMC A BR 16-30/10/2023 FRN USD ANCHC A B 16-15/01/2029 FRN USD BABSN 2014-IIA A 14-17/10/2026 FRN USD BLUEM A BR 16-20/11/2028 FRN USD CGMS A A /10/2027 FRN USD DRSLF A BR 16-15/10/2028 FRN USD LCM 17A BR 16-15/10/2026 FRN USD MAGNE A BR 16-15/04/2026 FRN USD OZLMF A A1R 15-22/07/2027 FRN USD United Kingdom ALBA A3B 06-15/12/2038 FRN EUR CREDIT AGRICOLE 14-12/06/2017 FRN USD Ireland DORPK A A 15-20/01/2027 FRN USD Other transferable securities Bonds United States of America CITIGROUP COMMERCIAL 15/04/ FRN MTGE USD GNR 7 SI 06-20/02/2036 USD Mortgage and asset backed securities United States of America FREMF 4.051% 16-25/02/2026 USD To be Announced ("TBA") Mortgage Backed Securities United States of America FGLMC 3.5 1/ % 11-15/09/2040 USD FNCL 3.5 1/ % 12-25/06/2041 USD Total securities portfolio Page 68

71 Bond Absolute Return V700 Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ALLY FINANCIAL 3.250% 15-05/11/2018 USD AMERICAN TOWER 3.400% 13-15/02/2019 USD AMERICAN TOWER 3.500% 13-31/01/2023 USD AT&T INC 2.625% 12-01/12/2022 USD AT&T INC 5.500% 08-01/02/2018 USD BANK OF AMERICA CORP 2.600% /01/2019 USD BANK OF AMERICA CORP 3.875% /08/2025 USD BBCMS 2016-ETC C 3.391% 16-14/08/2036 USD BERKSHIRE HATHAWAY 5.150% /11/2043 USD CGCMT 2016-C2 C 4.031% 16-10/08/2049 USD CGCMT 2016-P6 B 2.576% 16-10/12/2049 USD CITIGROUP INC 1.750% 13-01/05/2018 USD CITIGROUP INC 2.550% 14-08/04/2019 USD CONOCOPHILLIPS CO 2.400% 12-15/12/2022 USD CONOCOPHILLIPS CO 5.750% 09-01/02/2019 USD CPS 2014-B E 5.850% 14-16/08/2021 USD CPS 2015-A E 6.190% 15-16/05/2022 USD CVS HEALTH CORP 1.900% 15-20/07/2018 USD DIAMOND 1 FIN/DI 3.480% 16-01/06/2019 USD DISCOVER BANK 2.600% 15-13/11/2018 USD DTAOT A D 5.430% 16-15/11/2022 USD EART A D 4.930% 14-15/12/2020 USD EMC CORP 1.875% 13-01/06/2018 USD EMERA US FINANCE 2.150% 16-15/06/2019 USD FCAT E 6.250% 16-15/10/2023 USD FHR 4162 TI 3.000% 13-15/02/2033 USD FHR 4596 DI 3.500% 16-15/06/2046 USD FHS % 06-15/11/2035 USD FHS 304 C % 13-15/12/2042 USD FHS 324 C % 14-15/12/2033 USD FNR LI 4.000% 13-25/08/2042 USD FNR LI 3.000% 13-25/06/2033 USD FNR GI 4.000% 14-25/09/2034 USD FNR PI 4.000% 14-25/04/2043 USD FNS % 09-25/11/2039 USD FNS % 11-25/01/2040 USD FNS 407 C % 11-25/01/2040 USD FNS 408 C % 11-25/11/2040 USD FNS % 12-25/04/2042 USD FORD MOTOR CRED 2.375% 14-12/03/2019 USD GEN MOTORS FIN 3.100% 15-15/01/2019 USD GEN MOTORS FIN 4.375% 14-25/09/2021 USD GENERAL MOTORS CO 3.500% /10/2018 USD GNR HI 5.000% 15-16/03/2035 USD GNR IA 4.000% 15-20/02/2045 USD GNR IO 4.000% 15-20/06/2045 USD GNR IG 3.500% 16-20/08/2046 USD GOLDMAN SACHS GP 2.000% 16-25/04/2019 USD GOLDMAN SACHS GP 2.625% 14-31/01/2019 USD GOLDMAN SACHS GP 2.900% 13-19/07/2018 USD GOLDMAN SACHS GP 4.000% 14-03/03/2024 USD HP ENTERPRISE 2.850% 15-05/10/2018 USD HP ENTERPRISE 3.600% 15-15/10/2020 USD HUNTINGTON NATL 2.000% 15-30/06/2018 USD INTL LEASE FIN 3.875% 13-15/04/2018 USD INTL LEASE FIN 7.125% 10-01/09/2018 USD KRAFT HEINZ FOOD 2.000% 16-02/07/2018 USD MORGAN STANLEY 2.450% 16-01/02/2019 USD MORGAN STANLEY 5.000% 13-24/11/2025 USD NBC UNIVERSAL ENT 1.974% 13-15/04/2019 USD NEWELL RUBBERMAID 2.600% /03/2019 USD PCT 2016-PLSD B 3.357% 16-13/04/2033 USD PLAINS ALL AMER 3.650% 12-01/06/2022 USD PNC BANK NA 1.950% 16-04/03/2019 USD REGIONS BK ALAB 2.250% 15-14/09/2018 USD SIMON PROPERTY GP LP 1.500% /02/2018 USD US TSY INFL IX N/B 0.125% 14-15/07/2024 USD US TSY INFL IX N/B 0.625% 11-15/07/2021 USD US TSY INFL IX N/B 1.000% 16-15/02/2046 USD VERIZON COMMUNICATIONS INC 3.650% /09/2018 USD VERIZON COMMUNICATIONS INC 5.150% /09/2023 USD Norway NORWEGIAN GOVT 1.750% 15-13/03/2025 NOK United Kingdom BP CAPITAL PLC 3.245% 12-06/05/2022 USD UK TSY I/L GILT 0.125% 15-22/03/2026 GBP Singapore SINGAPORE GOVT 1.250% 16-01/10/2021 SGD Italy INTESA SANPAOLO 3.875% 13-15/01/2019 USD ITALY BTPS 2.700% 16-01/03/2047 EUR Mexico MEXICAN BONOS % 05-05/12/2024 MXN Germany BASF SE 1.375% 14-15/12/2017 GBP DT PFANDBRIEFBAN 1.875% 12-20/12/2019 GBP The Netherlands ABN AMRO BANK NV 2.250% 13-11/09/2017 GBP MONDELEZ INTERNATIONAL INC 1.625% /10/2019 USD Spain GAS NATURAL CAP 6.375% 09-09/07/2019 EUR Luxembourg ACTAVIS FUNDING 2.450% 14-15/06/2019 USD France ORANGE 8.000% 02-20/12/2017 GBP Floating rate bonds United States of America AHM M /04/2044 FRN USD CAS 2014-C03 2M /07/2024 FRN USD CAS 2015-C02 1M /05/2025 FRN USD CAS 2016-C03 2M /10/2028 FRN USD CAS 2016-C05 2M /01/2029 FRN USD CAS 2016-C06 1M /04/2029 FRN USD CAS 2016-C07 2M /04/2029 FRN USD COMM 2014-CR17 D 14-10/05/2047 FRN USD COMM 2014-CR19 C 14-10/08/2047 FRN USD COMM 2015-CR25 C 15-10/08/2048 FRN USD COMM 2015-CR26 D 15-10/10/2048 FRN USD FHASI 2004-AR1 B /02/2034 FRN USD FHR 2616 JS 03-15/02/2027 FRN USD Page 69

72 Bond Absolute Return V700 Expressed in EUR FHR 3994 HS 12-15/02/2042 FRN USD FHR 4132 DS 12-15/11/2042 FRN USD FHR 4231 SB 13-15/07/2038 FRN USD FHR 4259 SA 13-15/10/2043 FRN USD FHR 4328 WS 14-15/07/2041 FRN USD FHS 311 S /08/2043 FRN USD FNR S 04-25/09/2034 FRN USD FNR DC 05-25/06/2035 FRN USD FNR IS 06-25/03/2036 FRN USD FNR SE 10-25/12/2025 FRN USD FNR HS 11-25/10/2041 FRN USD FNR SB 12-25/09/2042 FRN USD FNR SC 12-25/10/2042 FRN USD FNR SP 12-25/10/2042 FRN USD FNR SK 12-25/03/2042 FRN USD FNR SC 12-25/01/2043 FRN USD FNR S 12-25/01/2043 FRN USD FNR DS 12-25/03/2039 FRN USD FNR SD 12-25/09/2042 FRN USD FNR SY 13-25/07/2043 FRN USD FNR US 16-25/01/2032 FRN USD FNR AS 16-25/10/2046 FRN USD FNR LS 16-25/11/2046 FRN USD FREMF 2015-K43 C 15-25/02/2048 FRN USD FREMF 2015-K47 C 15-25/06/2048 FRN USD FREMF 2015-K48 B 15-25/08/2048 FRN USD FREMF 2016-K53 C 16-25/03/2049 FRN USD FREMF 2016-KF25 B 16-25/09/2023 FRN USD GNR SB 02-20/06/2032 FRN USD GNR XS 14-16/07/2039 FRN USD GNR 2010-H19 JI 10-20/08/2060 FRN USD GNR SD 11-20/09/2041 FRN USD GNR PS 11-16/06/2041 FRN USD GNR 2011-H03 HI 11-20/01/2061 FRN USD GNR 2011-H05 HI 11-20/01/2061 FRN USD GNR 2012-H02 AI 12-20/01/2062 FRN USD GNR 2013-H01 FI 13-20/01/2063 FRN USD GNR 2013-H04 BI 13-20/02/2063 FRN USD GNR HS 14-20/09/2044 FRN USD GNR IM 15-20/11/2045 FRN USD GNR GS 15-20/02/2045 FRN USD GNR MS 16-20/04/2046 FRN USD GSR B /03/2033 FRN USD JPMDB 2016-C2 C 16-15/06/2049 FRN USD MASTR B /02/2034 FRN USD MLCC 2004-F B /12/2029 FRN USD MSBAM 2016-C29 C 16-15/05/2049 FRN USD MSBAM 2016-C32 C 16-15/12/2049 FRN USD RFMSI 2005-SA2 3A /06/2035 FRN USD STACR 2016-DNA2 M /10/2028 FRN USD STACR 2016-DNA3 M /12/2028 FRN USD STACR 2016-HQA2 M /11/2028 FRN USD STACR 2016-HQA3 M /03/2029 FRN USD VENDE IO 11-15/09/2046 FRN USD Cayman Islands AMMC A BR 16-30/10/2023 FRN USD ANCHC A B 16-15/01/2029 FRN USD BABSN 2014-IIA A 14-17/10/2026 FRN USD BLUEM A BR 16-20/11/2028 FRN USD CGMS A A /10/2027 FRN USD DRSLF A BR 16-15/10/2028 FRN USD LCM 17A BR 16-15/10/2026 FRN USD MAGNE A BR 16-15/04/2026 FRN USD OZLMF A A1R 15-22/07/2027 FRN USD Ireland DORPK A A 15-20/01/2027 FRN USD United Kingdom ALBA A3B 06-15/12/2038 FRN EUR Other transferable securities To be Announced ("TBA") Mortgage Backed Securities United States of America FNCL 3.5 1/ % 12-25/06/2041 USD Total securities portfolio Page 70

73 Bond Asia ex-japan Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds China AGILE PROPERTY 9.875% 12-20/03/2017 USD BANK OF CHINA 5.000% 14-13/11/2024 USD CHINA CINDA % 15-23/04/2025 USD ICBC LTD 4.875% 15-21/09/2025 USD KWG PROPERTY HOL 8.975% 14-14/01/2019 USD PROVEN HONOUR 4.125% 15-19/05/2025 USD PROVEN HONOUR 4.125% 16-06/05/2026 USD TRILLION CHANCE 8.500% 14-10/01/2019 USD YUZHOU PROPERTIE 8.625% 14-24/01/2019 USD Hong Kong CHINA TAIPING CA 4.125% 12-21/11/2022 USD FWD LTD 5.000% 14-24/09/2024 USD ICBCIL FINANCE 2.375% 16-19/05/2019 USD ICBCIL FINANCE 2.500% 16-29/09/2021 USD ICBCIL FINANCE 2.600% 15-13/11/2018 USD ICBCIL FINANCE 3.625% 16-19/05/2026 USD NWD MTN LTD 4.375% 15-30/11/2022 USD British Virgin Islands CHINA RAILWAY 3.250% 16-28/07/2026 USD HUARONG FINANCE 4.000% 14-17/07/2019 USD HUARONG FINANCE II 2.750% 16-03/06/2019 USD HUARONG FINANCE II 3.250% 16-03/06/2021 USD LS FINANCE % 12-26/01/2017 USD MINMETALS BOUNTE 3.125% 16-27/07/2021 USD MINMETALS BOUNTE 4.200% 16-27/07/2026 USD PCCW CAP NO % 12-17/04/2022 USD Indonesia INDONESIA EXIMBK 3.750% 12-26/04/2017 USD PELABUHAN IND II 4.250% 15-05/05/2025 USD PERTAMINA 4.875% 12-03/05/2022 USD PERTAMINA 6.450% 14-30/05/2044 USD REP OF INDONESIA 4.125% 15-15/01/2025 USD REP OF INDONESIA 5.125% 15-15/01/2045 USD SBSN INDO III 4.325% 15-28/05/2025 USD Singapore DBS BANK LTD/SP 3.625% 12-21/09/2022 USD OVERSEA-CHINESE 4.250% 14-19/06/2024 USD Cayman Islands CCBL CAYMAN % 16-31/05/2021 USD CDBL FUNDING % 14-02/12/2024 USD CHINA OVERSEAS FIN 3.950% 12-15/11/2022 USD CHINA OVERSEAS FIN 6.450% 14-11/06/2034 USD South Korea BUSAN BANK 3.625% 16-25/07/2026 USD WOORI BANK 4.750% 14-30/04/2024 USD India ADANI TRANSMISSI 4.000% 16-03/08/2026 USD BHARTI AIRTEL 4.375% 15-10/06/2025 USD RELIANCE INDUSTRIES 4.875% /02/2045 USD Malaysia AXIATA SPV % 16-24/03/2026 USD RHB BANK 2.503% 16-06/10/2021 USD United Arab Emirates ICICI BANK/DUBAI 4.000% 16-18/03/2026 USD Floating rate bonds Hong Kong BANK EAST ASIA L 14-20/11/2024 FRN USD CCCI TREASURE 15-29/12/2049 FRN USD DAH SING BANKING 14-29/01/2024 FRN USD FAR EAST HORIZON 14-23/06/2049 FRN USD WING HANG BK LTD 07-29/04/2049 SR USD Singapore OVERSEA-CHINESE 10-15/11/2022 FRN USD OVERSEA-CHINESE 14-15/10/2024 FRN USD UNITED OVERSEAS 12-17/10/2022 FRN USD UNITED OVERSEAS 16-08/03/2027 FRN USD UNITED OVERSEAS 16-16/09/2026 FRN USD Malaysia MALAYAN BANKING 12-20/09/2022 FRN USD MALAYAN BANKING 16-29/10/2026 FRN USD Cayman Islands KALUS 17 A 16-27/04/2019 FRN USD KRUNG THAI BANK/ 14-26/12/2024 FRN USD South Korea KOREAN RE 14-21/10/2044 FRN USD China CHINA CONSTRUCTION BANK 15-13/05/2025 FRN USD Total securities portfolio Page 71

74 Bond Best Selection World Emerging Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Kazakhstan FORTEBANK JSC -SPON GDR REGS USD Bonds Turkey AKBANK 4.000% 15-24/01/2020 USD GARANTI BANKASI 4.750% 14-17/10/2019 USD REP OF TURKEY 6.625% 14-17/02/2045 USD TURKEY GOVT BOND % 10-15/01/2020 TRY TURKEY GOVT BOND % 16-11/02/2026 TRY TURKEY GOVT BOND 8.000% 15-12/03/2025 TRY YASAR HOLDINGS 8.875% 14-06/05/2020 USD Indonesia INDONESIA GOVT % 09-15/08/2030 IDR INDONESIA GOVT 8.375% 13-15/03/2034 IDR INDONESIA GOVT 8.750% 15-15/05/2031 IDR INDONESIA GOVT 9.000% 13-15/03/2029 IDR PERTAMINA 5.625% 13-20/05/2043 USD Ireland ALFA BANK 7.500% 12-26/09/2019 USD RZD CAPITAL PLC 9.200% 16-07/10/2023 RUB Georgia BGEO GROUP JSC 6.000% 16-26/07/2023 USD JSC GEORGIAN RAILWAY 7.750% /07/2022 USD Colombia COLOMBIA TES % 05-24/07/2020 COP COLOMBIA TES 6.000% 12-28/04/2028 COP ECOPETROL SA 7.375% 13-18/09/2043 USD Malaysia MALAYSIAN GOVT 3.480% 13-15/03/2023 MYR MALAYSIAN GOVT 4.392% 11-15/04/2026 MYR MALAYSIAN GOVT 4.736% 16-15/03/2046 MYR MALAYSIAN GOVT 5.734% 04-30/07/2019 MYR Poland POLAND GOVT BOND 3.250% 14-25/07/2025 PLN REP OF POLAND 3.250% 16-06/04/2026 USD The Netherlands PETROBRAS 8.375% 16-23/05/2021 USD Hungary HUNGARY GOVT 3.000% 16-27/10/2027 HUF HUNGARY GOVT 5.375% 14-25/03/2024 USD HUNGARY GOVT 7.000% 11-24/06/2022 HUF Peru REP OF PERU 6.850% 10-12/02/2042 PEN REP OF PERU 8.200% 06-12/08/2026 PEN REP OF PERU 8.750% 03-21/11/2033 USD Egypt ARAB REP EGYPT 5.875% 15-11/06/2025 USD EGYPT 5.750% 10-29/04/2020 USD South Africa REP OF SOUTH AFRICA 7.000% /02/2031 ZAR Uruguay URUGUAY 5.000% 06-14/09/2018 UYU URUGUAY 5.100% 14-18/06/2050 USD URUGUAY 7.625% 06-21/03/2036 USD Argentina ARGENTINA 5.000% 16-15/01/2027 EUR PETROBRAS ARGENT 7.375% 16-21/07/2023 USD Romania ROMANIA 5.800% 12-26/07/2027 RON ROMANIA 5.950% 11-11/06/2021 RON Dominican Republic REP OF DOMINICAN 6.875% 16-29/01/2026 USD Kenya REP OF KENYA 5.875% 14-24/06/2019 USD Lebanon REP OF LEBANESE 6.600% 11-27/11/2026 USD Mexico PETROLEOS MEXICA 5.375% 16-13/03/2022 USD UNITED MEXICAN 4.000% 15-15/03/2115 EUR UNITED MEXICAN 5.625% 14-19/03/2114 GBP Kuwait KUWAIT ENERGY 9.500% 14-04/08/2019 USD Israel ISRAEL CPI 1.750% 13-29/09/2023 FLAT ILS Philippines PHILIPPINE GOVT 3.500% 16-20/09/2026 PHP REP OF PHILIPPINES 7.750% 06-14/01/2031 USD Croatia CROATIA 6.375% 11-24/03/2021 USD Trinidad & Tobago PETROTRIN 9.750% 09-14/08/2019 USD TRINIDAD & TOBAGO 4.500% 16-04/08/2026 USD Ecuador REP OF ECUADOR % 15-24/03/2020 USD REP OF ECUADOR % 16-28/03/2022 USD Panama PANAMA 6.700% 06-26/01/2036 USD Azerbaijan INTL BANK OF AZERB 5.625% 14-11/06/2019 USD Gabon GABONESE REPUBLIC 6.950% 15-16/06/2025 USD Kazakhstan ZHAIKMUNAI LLP 7.125% 12-13/11/2019 USD Surinam REP OF SURINAME 9.250% 16-26/10/2026 USD Venezuela VENEZUELA 7.000% 07-31/03/2038 USD Chile EMPRESA NACIONAL 3.750% 16-05/08/2026 USD Costa Rica COSTA RICA 7.158% 15-12/03/2045 USD United Kingdom UKREXIMBANK 9.750% 15-22/01/2025 USD Page 72

75 Bond Best Selection World Emerging Expressed in USD El Salvador REP OF EL SALVADOR 8.250% 02-10/04/2032 USD Cameroon REP OF CAMEROON 9.500% 15-19/11/2025 USD Paraguay PARAGUAY 5.000% 16-15/04/2026 USD Ghana REP OF GHANA % 15-14/10/2030 USD Jamaica JAMAICA GOVT 8.000% 07-15/03/2039 USD Zambia REP OF ZAMBIA 8.970% 15-30/07/2027 USD Sri Lanka REP OF SRI LANKA 6.825% 16-18/07/2026 USD Luxembourg SBERBANK 5.125% 12-29/10/2022 USD Nigeria REP OF NIGERIA 6.375% 13-12/07/2023 USD Pakistan REP OF PAKISTAN 7.875% 06-31/03/2036 USD Namibia REP OF NAMIBIA 5.250% 15-29/10/2025 USD India ADANI TRANSMISSI 4.000% 16-03/08/2026 USD Mozambique REP OF MOZAMBIQUE % /01/2023 USD Floating rate bonds Argentina BANCO MACRO SA 16-04/11/2026 FRN USD YPF SOCIEDAD ANO 16-07/07/2020 FRN USD Ivory Coast IVORY COAST 10-31/12/2032 SR FLAT USD Congo REP OF CONGO 07-30/06/2029 SR USD Belize BELIZE 13-20/02/2038 SR USD Other transferable securities Bonds Austria OAS INVESTMENT G 8.250% /10/2019 DFLT USD Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH USD - I - CAP USD Total securities portfolio Page 73

76 Bond Euro Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France AIR LIQUIDE FIN 0.750% 16-13/06/2024 EUR ARKEA HL 0.625% 15-30/09/2022 EUR AUTOROUTES PARIS 1.125% 14-15/01/2021 EUR BANQUE FED CREDIT MUTUEL 2.375% /03/2026 EUR BANQUE FED CREDIT MUTUEL 2.625% /02/2021 EUR BNP PARIBAS 0.750% 16-11/11/2022 EUR BNP PARIBAS 2.000% 13-28/01/2019 EUR BNP PARIBAS 2.750% 15-27/01/2026 EUR BNP PARIBAS 2.875% 16-01/10/2026 EUR BPCE 0.625% 16-20/04/2020 EUR BPCE 2.125% 14-17/03/2021 EUR BPCE 2.875% 16-22/04/2026 EUR BPCE SFH 0.375% 16-10/02/2023 EUR BPCE SFH 2.375% 13-29/11/2023 EUR CAISSE AMORT DET 0.050% 16-25/11/2020 EUR CAISSE FR DE FINANCEMENT 0.375% /09/2019 EUR CAISSE REFIN L HAB 3.900% 11-18/01/2021 EUR CAISSE REFIN L HAB 4.000% 11-10/01/2022 EUR CIE FINANCEMENT FONCIER 0.375% /09/2019 EUR CIE FINANCEMENT FONCIER 0.375% /10/2020 EUR COFIROUTE 0.375% 16-07/02/2025 EUR CREDIT AGRICOLE SA 0.875% 15-19/01/2022 EUR CREDIT AGRICOLE SA 2.625% 15-17/03/2027 EUR CREDIT LOGEMENT 5.454% 11-16/02/2021 EUR CREDIT MUTUEL ARKEA 3.250% /06/2026 EUR CREDIT MUTUEL- CIC 1.125% 14-06/02/2019 EUR DANONE 0.167% 16-03/11/2020 EUR ELEC DE FRANCE 2.250% 13-27/04/2021 EUR FRANCE O.A.T % 16-25/05/2026 EUR FRANCE O.A.T % 16-25/05/2036 EUR FRANCE O.A.T % 13-25/05/2023 EUR FRANCE O.A.T % 14-25/11/2024 EUR FRANCE O.A.T % 12-25/10/2022 EUR FRANCE O.A.T % 10-25/10/2020 EUR FRANCE O.A.T % 14-25/05/2030 EUR FRANCE O.A.T % 12-25/10/2027 EUR FRANCE O.A.T % 12-25/04/2022 EUR FRANCE O.A.T % 10-25/04/2020 EUR FRANCE O.A.T.I/L 1.300% 10-25/07/2019 EUR FRANCE O.A.T.I/L 2.100% 07-25/07/2023 EUR LA BANQUE POSTALE 1.875% 13-11/09/2020 EUR ST GOBAIN 4.000% 10-08/10/2018 EUR Italy ENI SPA 2.625% 13-22/11/2021 EUR INTESA SANPAOLO 2.000% 14-18/06/2021 EUR INTESA SANPAOLO 3.625% 12-05/12/2022 EUR INTESA SANPAOLO 4.000% 10-08/11/2018 EUR INTESA SANPAOLO 5.000% 09-23/09/2019 EUR ITALY BTPS 1.050% 14-01/12/2019 EUR ITALY BTPS 1.450% 15-15/09/2022 EUR ITALY BTPS 1.500% 15-01/06/2025 EUR ITALY BTPS 1.600% 16-01/06/2026 EUR ITALY BTPS 1.650% 15-01/03/2032 EUR ITALY BTPS 2.500% 14-01/05/2019 EUR ITALY BTPS 3.750% 13-01/05/2021 EUR ITALY BTPS 3.750% 14-01/09/2024 EUR ITALY BTPS 4.500% 04-01/02/2020 EUR ITALY BTPS 4.500% 13-01/03/2024 EUR ITALY BTPS 4.750% 13-01/09/2028 EUR ITALY BTPS 5.000% 09-01/09/2040 EUR ITALY BTPS 6.500% 97-01/11/2027 EUR ITALY BTPS I/L 3.100% 11-15/09/2026 EUR SNAM SPA 1.375% 15-19/11/2023 EUR TERNA SPA 0.875% 15-02/02/2022 EUR UNIONE DI BANCHE 0.375% 16-14/09/2026 EUR Spain BANCO BILBAO VIZCAYA 4.000% /02/2025 EUR SANTANDER ISSUAN 2.500% 15-18/03/2025 EUR SPANISH GOVT 0.250% 15-30/04/2018 EUR SPANISH GOVT 0.250% 16-31/01/2019 EUR SPANISH GOVT 0.750% 16-30/07/2021 EUR SPANISH GOVT 1.950% 15-30/07/2030 EUR SPANISH GOVT 1.950% 16-30/04/2026 EUR SPANISH GOVT 2.150% 15-31/10/2025 EUR SPANISH GOVT 4.100% 08-30/07/2018 EUR SPANISH GOVT 4.200% 05-31/01/2037 EUR SPANISH GOVT 4.500% 12-31/01/2018 EUR SPANISH GOVT 4.700% 09-30/07/2041 EUR SPANISH GOVT 4.850% 10-31/10/2020 EUR TELEFONICA EMIS 0.318% 16-17/10/2020 EUR Germany BUNDESREPUBLIK DEUTSCHLAND 0.000% /08/2026 EUR BUNDESREPUBLIK DEUTSCHLAND 0.500% /02/2026 EUR BUNDESREPUBLIK DEUTSCHLAND 1.000% /08/2025 EUR BUNDESREPUBLIK DEUTSCHLAND 1.500% /09/2022 EUR BUNDESREPUBLIK DEUTSCHLAND 2.500% /07/2044 EUR BUNDESREPUBLIK DEUTSCHLAND 3.000% /07/2020 EUR BUNDESREPUBLIK DEUTSCHLAND 4.750% /07/2034 EUR BUNDESREPUBLIK DEUTSCHLAND % 15-17/04/2020 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR KFW 0.125% 15-01/06/2020 EUR KFW 0.375% 15-23/04/2030 EUR KFW 0.625% 15-15/01/2025 EUR KFW 1.625% 14-15/01/2021 EUR KFW 3.500% 06-04/07/2021 EUR Supranational EFSF 0.500% 15-20/01/2023 EUR EIB 0.375% 16-14/04/2026 EUR EIB 1.000% 15-14/03/2031 EUR EIB 2.000% 13-14/04/2023 EUR EIB 2.500% 10-16/09/2019 EUR EIB 2.750% 11-15/09/2021 EUR ESM 0.100% 15-03/11/2020 EUR EUROPEAN UNION 0.625% 15-04/11/2023 EUR EUROPEAN UNION 2.750% 12-04/04/2022 EUR EUROPEAN UNION 3.375% 10-10/05/2019 EUR Belgium ANHEUSER - BUSCH 1.500% 16-17/03/2025 EUR BELFIUS BANK SA 0.625% 14-14/10/2021 EUR BELGIAN RETAIL 2.250% 13-22/06/2023 EUR Page 74

77 Bond Euro Expressed in EUR BELGIUM GOVERNMENT 0.800% /06/2025 EUR BELGIUM GOVERNMENT 1.000% /06/2031 EUR BELGIUM GOVERNMENT 2.600% /06/2024 EUR BELGIUM GOVERNMENT 3.000% /06/2034 EUR BELGIUM GOVERNMENT 3.750% /06/2045 EUR BELGIUM OLO % 06-28/03/2022 EUR KBC BANK NV 1.250% 13-28/05/2020 EUR The Netherlands ABN AMRO BANK NV 2.875% 15-30/06/2025 EUR IBERDROLA INTL 1.125% 16-21/04/2026 EUR ING BANK NV 0.750% 16-22/02/2021 EUR NETHERLANDS GOVERNMENT 1.750% /07/2023 EUR NETHERLANDS GOVERNMENT 2.500% /01/2033 EUR NETHERLANDS GOVERNMENT 3.250% /07/2021 EUR SHELL INTL FIN 0.375% 16-15/02/2025 EUR VONOVIA BV 1.625% 15-15/12/2020 EUR United Kingdom CREDIT SUISSE LD 0.375% 16-11/04/2019 EUR HSBC HOLDINGS PLC 0.875% 16-06/09/2024 EUR UNILEVER NV 0.000% 16-29/04/2020 EUR Ireland FCA CAPITAL IRE 4.000% 13-17/10/2018 EUR FGA CAPITAL IRE 2.875% 14-26/01/2018 EUR IRISH GOVT 3.400% 14-18/03/2024 EUR IRISH GOVT 3.900% 13-20/03/2023 EUR Luxembourg HOLCIM FINANCE L 1.375% 16-26/05/2023 EUR MICHELIN LUX 2.750% 12-20/06/2019 EUR Finland FINNISH GOVT 0.000% 16-15/09/2023 EUR OP CORPORATE BANK 0.750% /03/2022 EUR Portugal PORTUGUESE OTS 5.650% 13-15/02/2024 EUR Austria REPUBLIC OF AUSTRIA 3.650% 11-20/04/2022 EUR United States of America JP MORGAN CHASE 1.500% 15-26/10/2022 EUR JP MORGAN CHASE 2.625% 13-23/04/2021 EUR MCDONALDS CORP 0.500% 16-15/01/2021 EUR Sweden SKANDINAVISKA ENSKILDA BANK 0.750% /08/2021 EUR Canada TOTAL CAP CANADA 1.125% 14-18/03/2022 EUR Floating rate bonds France AXA SA 10-16/04/2040 FRN EUR BPCE 15-30/11/2027 FRN EUR CREDIT LOGEMENT 06-29/03/2049 SR EUR LA BANQUE POSTALE 15-19/11/2027 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR Luxembourg HANNOVER FINANCE 12-30/06/2043 FRN EUR Italy UNIONE DI BANCHE 16-05/05/2026 FRN EUR Germany MUENCHENER RUECKVERSICHERUNG 12-26/05/2042 FRN EUR Spain BBVA SUB CAP UNI 14-11/04/2024 FRN EUR United Kingdom HSBC HOLDINGS PLC 13-10/01/2024 FRN EUR Other transferable securities Bonds United Kingdom LEHMAN BROS CA 3.875% /12/2049 DFLT EUR Money Market Instruments Italy ITALY BTPS HYBRD 0.000% 07-01/08/2039 EUR Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH MONEY 3M EUR I - CAP EUR PARVEST FLEXIBLE BOND EURO - X - CAP EUR France BNP PARIBAS LCR 1 FCP EUR BNP PARIBAS OBLIPAR - C EUR Total securities portfolio Page 75

78 Bond Euro Corporate Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ALSTOM 3.625% 10-05/10/2018 EUR APRR 1.250% 16-06/01/2027 EUR ARKEMA 1.500% 15-20/01/2025 EUR AUTOROUTES DU SUD 1.000% /05/2026 EUR AUTOROUTES PARIS 1.875% 14-15/01/2025 EUR BANQUE FED CREDIT MUTUEL 2.625% /02/2021 EUR BNP PARIBAS 0.750% 16-11/11/2022 EUR BNP PARIBAS 2.250% 16-11/01/2027 EUR BNP PARIBAS 2.375% 15-17/02/2025 EUR BOUYGUES 1.375% 16-07/06/2027 EUR BPCE 0.375% 16-05/10/2023 EUR BPCE 2.875% 16-22/04/2026 EUR CAP GEMINI SA 0.500% 16-09/11/2021 EUR CAP GEMINI SA 1.750% 15-01/07/2020 EUR CARMILA 2.375% 15-18/09/2023 EUR CARMILA 2.375% 16-16/09/2024 EUR CARREFOUR SA 0.750% 16-26/04/2024 EUR CIE DE ST GOBAIN 0.000% 16-27/03/2020 EUR CNP ASSURANCES 1.875% 16-20/10/2022 EUR COFIROUTE 0.375% 16-07/02/2025 EUR DANONE 0.424% 16-03/11/2022 EUR DANONE 1.208% 16-03/11/2028 EUR ELEC DE FRANCE 1.000% 16-13/10/2026 EUR EUTELSAT SA 2.625% 13-13/01/2020 EUR GECINA 2.000% 15-17/06/2024 EUR ICADE 1.125% 16-17/11/2025 EUR ICADE 1.875% 15-14/09/2022 EUR IMERYS SA 0.875% 16-31/03/2022 EUR JCDECAUX SA 1.000% 16-01/06/2023 EUR KERING 0.875% 15-28/03/2022 EUR KERING 1.375% 14-01/10/2021 EUR KLEPIERRE 1.000% 15-17/04/2023 EUR ORANGE 3.125% 13-09/01/2024 EUR PERNOD-RICARD SA 2.125% 14-27/09/2024 EUR RCI BANQUE 1.250% 15-08/06/2022 EUR RENAULT 3.125% 14-05/03/2021 EUR SANOFI 0.000% 16-13/09/2022 EUR SOCIETE FONCIERE 1.875% 14-26/11/2021 EUR SOCIETE GENERALE 0.750% 16-19/02/2021 EUR SOCIETE GENERALE 1.000% 16-01/04/2022 EUR SOCIETE GENERALE 2.625% 15-27/02/2025 EUR TDF INFRASTRUCTU 2.500% 16-07/04/2026 EUR THALES SA 0.750% 16-07/06/2023 EUR TRANSPORT ET INF 2.200% 15-05/08/2025 EUR UNIBAIL-RODAMCO 2.500% 14-26/02/2024 EUR VALEO SA 1.625% 16-18/03/2026 EUR VEOLIA ENVIRONNEMENT 0.314% /10/2023 EUR WENDEL SA 1.000% 16-20/04/2023 EUR United Kingdom ABBEY NATIONAL TREASURY 0.875% /11/2020 EUR ABBEY NATIONAL TREASURY 2.625% /07/2020 EUR AON PLC 2.875% 14-14/05/2026 EUR ASTRAZENECA PLC 0.250% 16-12/05/2021 EUR AVIVA PLC 0.625% 16-27/10/2023 EUR BARCLAYS BANK PLC 1.875% 16-08/12/2023 EUR BARCLAYS BANK PLC 6.000% 10-14/01/2021 EUR BARCLAYS BANK PLC 6.625% 11-30/03/2022 EUR BG ENERGY CAP 1.250% 14-21/11/2022 EUR BP CAPITAL PLC 1.373% 16-03/03/2022 EUR BP CAPITAL PLC 1.526% 14-26/09/2022 EUR BP CAPITAL PLC 1.953% 16-03/03/2025 EUR BRITISH SKY BROADCASTING 1.875% /11/2023 EUR BRITISH SKY BROADCASTING 2.500% /09/2026 EUR BRITISH TEL PLC 0.625% 16-10/03/2021 EUR COCA-COLA EURO 0.750% 16-24/02/2022 EUR CREDIT AGRICOLE 1.875% 16-20/12/2026 EUR CREDIT SUISSE LD 1.000% 16-07/06/2023 EUR CREDIT SUISSE LD 1.375% 14-31/01/2022 EUR EASYJET PLC 1.125% 16-18/10/2023 EUR FCE BANK PLC 1.134% 15-10/02/2022 EUR FCE BANK PLC 1.528% 15-09/11/2020 EUR FCE BANK PLC 1.875% 14-24/06/2021 EUR HAMMERSON PLC 2.000% 14-01/07/2022 EUR HEATHROW FUNDING 1.875% 14-23/05/2022 EUR HSBC HOLDINGS PLC 1.500% 16-15/03/2022 EUR HSBC HOLDINGS PLC 3.000% 15-30/06/2025 EUR IMPERIAL TOBACCO FINANCE 3.375% /02/2026 EUR ITV PLC 2.000% 16-01/12/2023 EUR LLOYDS BANK PLC 0.625% 15-20/04/2020 EUR LLOYDS BANK PLC 1.000% 14-19/11/2021 EUR LLOYDS BANKING GR PLC 0.750% /11/2021 EUR MOTABILITY OPS 1.625% 15-09/06/2023 EUR NATIONAL GRID 0.625% 16-22/09/2024 EUR NATIONWIDE BLDG 0.500% 16-29/10/2019 EUR SMITHS GROUP PLC 1.250% 15-28/04/2023 EUR VODAFONE GROUP 0.500% 16-30/01/2024 EUR YORKSHRE BLD SOC 1.250% 15-17/03/2022 EUR United States of America ABBVIE INC 0.375% 16-18/11/2019 EUR AMERICAN EXPRESS 0.625% 16-22/11/2021 EUR AT&T INC 2.400% 14-15/03/2024 EUR BANK OF AMERICA CORP 0.750% /07/2023 EUR BANK OF AMERICA CORP 1.625% /09/2022 EUR BMW US CAP LLC 1.125% 15-18/09/2021 EUR BMW US CAP LLC 1.850% 16-15/09/2021 USD CITIGROUP INC 0.750% 16-26/10/2023 EUR FEDEX CORP 0.500% 16-09/04/2020 EUR FEDEX CORP 1.000% 16-11/01/2023 EUR GEN MOTORS FIN 0.955% 16-07/09/2023 EUR GOLDMAN SACHS GP 2.000% 15-27/07/2023 EUR IBM CORP 0.500% 16-07/09/2021 EUR ILLINOIS TOOL WK 1.750% 14-20/05/2022 EUR INTERNATIONAL FL 1.750% 16-14/03/2024 EUR JOHNSON&JOHNSON 0.250% 16-20/01/2022 EUR JP MORGAN CHASE 0.625% 16-25/01/2024 EUR MCDONALDS CORP 1.000% 16-15/11/2023 EUR MERCK & CO INC 1.125% 14-15/10/2021 EUR MET LIFE GLOB 0.875% 15-20/01/2022 EUR MET LIFE GLOB 1.250% 14-17/09/2021 EUR MORGAN STANLEY 1.000% 16-02/12/2022 EUR MORGAN STANLEY 1.750% 16-11/03/2024 EUR MYLAN NV 1.250% 16-23/11/2020 EUR MYLAN NV 3.125% 16-22/11/2028 EUR Page 76

79 Bond Euro Corporate Expressed in EUR PHILIP MORRIS INTERNATIONAL 1.875% /03/2021 EUR THERMO FISHER 0.750% 16-12/09/2024 EUR UNITED PARCEL SERVICE 1.625% /11/2025 EUR VERIZON COMMUNICATIONS INC 0.500% /06/2022 EUR The Netherlands ABN AMRO BANK NV 2.875% 15-30/06/2025 EUR ABN AMRO BANK NV 4.125% 12-28/03/2022 EUR ADECCO INT FIN 1.000% 16-02/12/2024 EUR ADECCO INT FIN 2.750% 13-15/11/2019 EUR AIRBUS GROUP FINANCE BV 0.875% /05/2026 EUR AKZO NOBEL NV 1.125% 16-08/04/2026 EUR ASML HOLDING NV 0.625% 16-07/07/2022 EUR ASML HOLDING NV 1.625% 16-28/05/2027 EUR BMW FINANCE NV 0.875% 15-17/11/2020 EUR COCA-COLA HBC BV 1.875% 16-11/11/2024 EUR DEUTSCHE TEL FIN 0.625% 16-03/04/2023 EUR DEUTSCHE TEL FIN 1.500% 16-03/04/2028 EUR DSM NV 0.750% 16-28/09/2026 EUR EDP FINANCE BV 2.000% 15-22/04/2025 EUR EDP FINANCE BV 2.625% 14-18/01/2022 EUR FRESENIUS FIN 2.875% 13-15/07/2020 EUR FRESENIUS FIN 3.000% 14-01/02/2021 EUR GAS NAT FENOSA F 3.875% 13-11/04/2022 EUR GEN MOTORS FIN 1.168% 16-18/05/2020 EUR HEINEKEN NV 1.000% 16-04/05/2026 EUR IBERDROLA INTL 3.000% 13-31/01/2022 EUR ING BANK NV 0.750% 16-22/02/2021 EUR KONINKLIJKE KPN 0.625% 16-09/04/2025 EUR LEASEPLAN CORP 1.000% 16-08/04/2020 EUR LEASEPLAN CORP 1.000% 16-24/05/2021 EUR RABOBANK 4.000% 12-11/01/2022 EUR RABOBANK 4.125% 11-12/01/2021 EUR RED ELE FIN BV 3.875% 13-25/01/2022 EUR REDEXIS GAS FIN 2.750% 14-08/04/2021 EUR REN FINANCE BV 1.750% 16-01/06/2023 EUR REN FINANCE BV 2.500% 15-12/02/2025 EUR REN FINANCE BV 4.750% 13-16/10/2020 EUR REPSOL INTL FIN 3.625% 13-07/10/2021 EUR ROCHE FINANCE EU 0.500% 16-27/02/2023 EUR SCHAEFFLER FIN 3.250% 15-15/05/2025 EUR SIEMENS FINAN 1.700% 16-15/09/2021 USD VONOVIA BV 1.625% 15-15/12/2020 EUR VONOVIA BV 2.250% 15-15/12/2023 EUR WOLTERS KLUWER 2.875% 13-21/03/2023 EUR Spain ABERTIS 1.375% 16-20/05/2026 EUR AMADEUS CAP MKT 0.125% 16-06/10/2020 EUR AMADEUS CAP MKT 1.625% 15-17/11/2021 EUR BANCO BILBAO VIZCAYA 1.000% /01/2021 EUR ENAGAS FIN SA 1.250% 15-06/02/2025 EUR ENAGAS FIN SA 1.375% 16-05/05/2028 EUR FERROVIAL EMISIO 0.375% 16-14/09/2022 EUR IBERDROLA FIN SA 1.000% 16-07/03/2024 EUR MAPFRE 1.625% 16-19/05/2026 EUR MERLIN PROPERTIES 1.875% 16-02/11/2026 EUR SANTANDER CONS FIN 0.900% /02/2020 EUR SANTANDER INTL 4.000% 13-24/01/2020 EUR SANTANDER ISSUAN 3.250% 16-04/04/2026 EUR TELEFONICA EMIS 0.318% 16-17/10/2020 EUR TELEFONICA EMIS 2.736% 13-29/05/2019 EUR Germany BASF SE 0.875% 16-06/10/2031 EUR COMMERZBANK AG 0.500% 16-13/09/2023 EUR COMMERZBANK AG 4.000% 16-23/03/2026 EUR COVESTRO AG 1.000% 16-07/10/2021 EUR CRH FINANCE GERM 1.750% 14-16/07/2021 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR DEUTSCHE BANK AG 1.250% 14-08/09/2021 EUR DEUTSCHE POST AG 1.250% 16-01/04/2026 EUR DEUTSCHE WOHNEN 1.375% 15-24/07/2020 EUR EUROGRID GMBH 1.625% 15-03/11/2023 EUR EVONIK 1.000% 15-23/01/2023 EUR HEIDELBERGCEMENT 2.250% 16-30/03/2023 EUR KNORR BREMSE AG 0.500% 16-08/12/2021 EUR LANXESS 0.250% 16-07/10/2021 EUR LANXESS 1.000% 16-07/10/2026 EUR TALANX AG 3.125% 13-13/02/2023 EUR TELFONICA DEUTSC 2.375% 14-10/02/2021 EUR Italy ACEA SPA 1.000% 16-24/10/2026 EUR AEROPORTI ROMA 3.250% 13-20/02/2021 EUR ENI SPA 0.625% 16-19/09/2024 EUR ENI SPA 0.750% 16-17/05/2022 EUR INTESA SANPAOLO 3.000% 13-28/01/2019 EUR SIAS 3.375% 14-13/02/2024 EUR SNAM 0.875% 16-25/10/2026 EUR SNAM SPA 1.375% 15-19/11/2023 EUR TERNA SPA 0.875% 15-02/02/2022 EUR TERNA SPA 1.000% 16-11/10/2028 EUR UNICREDIT SPA 3.250% 14-14/01/2021 EUR Ireland ALLIED IRISH BANKS 1.375% 15-16/03/2020 EUR ALLIED IRISH BANKS 2.750% 14-16/04/2019 EUR BANK OF IRELAND 3.250% 14-15/01/2019 EUR CLOVERIE PLC 1.750% 14-16/09/2024 EUR DAA FINANCE PLC 1.554% 16-07/06/2028 EUR ESB FINANCE LTD 3.494% 13-12/01/2024 EUR FGA CAPITAL IRE 2.000% 14-23/10/2019 EUR GE CAP EUR FUND 5.375% 09-23/01/2020 EUR PARTNERRE IRELAND 1.250% 16-15/09/2026 EUR WILLOW NO.2 PLC 3.375% 12-27/06/2022 EUR Belgium ANHEUSER - BUSCH 1.500% 16-17/03/2025 EUR KBC GROUP NV 0.750% 16-18/10/2023 EUR SOLVAY SA 1.625% 15-02/12/2022 EUR Sweden HEMSO FASTIGHETS 1.000% 16-09/09/2026 EUR NORDEA BANK AB 1.000% 16-22/02/2023 EUR SKANDINAVISKA ENSKILDA BANK 0.750% /08/2021 EUR SVENSKA HANDELSBANKEN 1.125% /12/2022 EUR Jersey Island SWISS RE ADMIN 1.375% 16-27/05/2023 EUR UBS GROUP FUNDING 1.500% 16-30/11/2024 EUR UBS GROUP FUNDING 2.125% 16-04/03/2024 EUR Page 77

80 Bond Euro Corporate Expressed in EUR Denmark CARLSBERG BREW 2.500% 14-28/05/2024 EUR DANSKE BANK A/S 0.500% 16-06/05/2021 EUR DANSKE BANK A/S 0.750% 16-02/06/2023 EUR ISS GLOBAL A/S 1.125% 14-09/01/2020 EUR Luxembourg HEIDELCEMENT FIN 3.250% 13-21/10/2021 EUR HOLCIM FINANCE L 1.375% 16-26/05/2023 EUR PROLOGIS INTL II 2.875% 14-04/04/2022 EUR SIMON INTL FIN S 1.375% 15-18/11/2022 EUR Norway DNB NOR BANK ASA 4.375% 11-24/02/2021 EUR SPAREBANK 1 SR 0.375% 16-10/02/2022 EUR Mexico AMERICA MOVIL SA 1.500% 16-10/03/2024 EUR FEMSA 1.750% 16-20/03/2023 EUR Austria TELEKOM FINANZ 1.500% 16-07/12/2026 EUR Finland SAMPO OYJ 1.000% 16-18/09/2023 EUR Poland AUTOSTRADE PER L 1.125% 15-04/11/2021 EUR AUTOSTRADE PER L 1.875% 15-04/11/2025 EUR Portugal BRISA CONCESSAO 2.000% 16-22/03/2023 EUR Guernsey Island CREDIT SUISSE GP FUN 1.250% /04/2022 EUR Australia TELSTRA CORPORATION LTD 2.500% /09/2023 EUR Bonds United Kingdom Floating rate bonds LEHMAN BROS CA 3.875% EUR /12/2049 DFLT France AXA SA 13-04/07/2043 FRN EUR Shares/Units in investment funds BNP PARIBAS 14-31/12/2049 FRN EUR BPCE 14-08/07/2026 FRN EUR CNP ASSURANCES 10-14/09/2040 FRN EUR CNP ASSURANCES 11-30/09/2041 FRN EUR CREDIT AGRICOLE 09-29/10/2049 FRN EUR CREDIT AGRICOLE ASSR 15-29/01/2049 FRN EUR CREDIT AGRICOLE ASSR 16-27/09/2048 FRN EUR ENGIE 14-02/06/2049 FRN EUR ENGIE OPEN 14-02/06/2049 FRN EUR LA BANQUE POSTALE 15-19/11/2027 FRN EUR ORANGE 14-28/02/2049 FRN EUR ORANGE 14-29/10/2049 FRN EUR SOCIETE GENERALE 09-29/09/2049 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR TOTAL SA 16-29/12/2049 FRN EUR The Netherlands ALLIANDER 13-29/11/2049 FRN EUR ALLIANZ FINANCE 11-08/07/2041 FRN EUR DEUTSCHE ANN FIN 14-29/12/2049 FRN EUR GAS NAT FENOSA F 15-29/12/2049 FRN EUR ING BANK NV 14-25/02/2026 FRN EUR ING VERZEKERING 14-08/04/2044 FRN EUR KPN NV 13-29/03/2049 FRN EUR RABOBANK 14-26/05/2026 FRN EUR SWISS LIFE 16-29/12/2049 FRN EUR Italy ASSICURAZIONI GENERALI /12/2042 FRN EUR ENEL SPA 14-15/01/2075 FRN EUR Ireland ALLIED IRISH BANKS 15-26/11/2025 FRN EUR AQUARIUS + INV 13-02/10/2043 FRN EUR Germany ENERGIE BADEN-WU 16-05/04/2077 FRN EUR MERCK 14-12/12/2074 FRN EUR MUENCHENER RUECKVERSICHERUNG /05/2042 FRN EUR United Kingdom AVIVA PLC 15-04/12/2045 FRN EUR HSBC HOLDINGS PLC 13-10/01/2024 FRN EUR Luxembourg HANNOVER FINANCE 12-30/06/2043 FRN EUR TALANX FINANZ 12-15/06/2042 FRN EUR Belgium KBC GROEP NV 15-11/03/2027 FRN EUR Spain BBVA SUB CAP UNI 14-11/04/2024 FRN EUR Sweden SKANDINAVISKA ENSKILDA BANK 14-28/05/2026 FRN EUR Other transferable securities Luxembourg BNPP FLEXI I BOND EURO FOCUS CORPORATE - I - CAP EUR PARVEST BOND EURO SHORT TERM CORPORATE - X - CAP EUR PARVEST BOND WORLD HIGH YIELD SHORT DURATION - X - CAP USD PARVEST BOND WORLD INCOME - X - CAP EUR France BNPP SHORT TERM EUROPEAN SECURITISATION - X EUR Total securities portfolio Page 78

81 Bond Euro Government Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Italy ITALY BTPS 0.250% 15-15/05/2018 EUR ITALY BTPS 0.350% 16-01/11/2021 EUR ITALY BTPS 0.450% 16-01/06/2021 EUR ITALY BTPS 0.650% 16-15/10/2023 EUR ITALY BTPS 0.700% 15-01/05/2020 EUR ITALY BTPS 0.950% 16-15/03/2023 EUR ITALY BTPS 1.050% 14-01/12/2019 EUR ITALY BTPS 1.350% 15-15/04/2022 EUR ITALY BTPS 1.450% 15-15/09/2022 EUR ITALY BTPS 1.650% 15-01/03/2032 EUR ITALY BTPS 2.000% 15-01/12/2025 EUR ITALY BTPS 2.150% 14-15/12/2021 EUR ITALY BTPS 2.250% 16-01/09/2036 EUR ITALY BTPS 2.500% 14-01/05/2019 EUR ITALY BTPS 2.500% 14-01/12/2024 EUR ITALY BTPS 2.700% 16-01/03/2047 EUR ITALY BTPS 3.500% 14-01/03/2030 EUR ITALY BTPS 3.750% 14-01/09/2024 EUR ITALY BTPS 4.000% 05-01/02/2037 EUR ITALY BTPS 4.250% 09-01/09/2019 EUR ITALY BTPS 4.500% 04-01/02/2020 EUR ITALY BTPS 4.500% 13-01/03/2024 EUR ITALY BTPS 4.750% 13-01/09/2028 EUR ITALY BTPS 4.750% 13-01/09/2044 EUR ITALY BTPS 5.000% 03-01/08/2034 EUR ITALY BTPS 5.000% 09-01/09/2040 EUR ITALY BTPS 5.250% 98-01/11/2029 EUR ITALY BTPS 5.500% 12-01/11/2022 EUR ITALY BTPS 5.750% 02-01/02/2033 EUR ITALY BTPS 6.000% 00-01/05/2031 EUR ITALY BTPS 6.500% 97-01/11/2027 EUR ITALY BTPS I/L 1.650% 14-23/04/2020 EUR ITALY BTPS I/L 2.100% 10-15/09/2021 EUR ITALY BTPS I/L 2.150% 13-12/11/2017 EUR ITALY BTPS I/L 2.350% 14-15/09/2024 EUR France DEXIA CREDIT LOCAL 0.040% 16-11/12/2019 EUR DEXIA CREDIT LOCAL 0.200% 15-31/07/2018 EUR DEXIA CREDIT LOCAL 0.200% 16-16/03/2021 EUR DEXIA CREDIT LOCAL 0.250% 15-19/03/2020 EUR DEXIA CREDIT LOCAL 0.375% 14-10/07/2017 EUR DEXIA CREDIT LOCAL 1.625% 13-29/10/2018 EUR DEXIA CREDIT LOCAL 2.000% 14-22/01/2021 EUR FRANCE O.A.T % 15-25/05/2020 EUR FRANCE O.A.T % 16-25/05/2021 EUR FRANCE O.A.T % 16-25/05/2022 EUR FRANCE O.A.T % 16-01/03/2021 EUR FRANCE O.A.T % 15-25/11/2020 EUR FRANCE O.A.T % 15-25/05/2025 EUR FRANCE O.A.T % 16-25/05/2026 EUR FRANCE O.A.T % 15-25/11/2025 EUR FRANCE O.A.T % 16-25/05/2036 EUR FRANCE O.A.T % 15-25/05/2031 EUR FRANCE O.A.T % 13-25/05/2023 EUR FRANCE O.A.T % 14-25/11/2024 EUR FRANCE O.A.T % 16-25/05/2066 EUR FRANCE O.A.T % 13-25/05/2024 EUR FRANCE O.A.T % 14-25/05/2030 EUR FRANCE O.A.T % 11-25/10/2021 EUR FRANCE O.A.T % 13-25/05/2045 EUR FRANCE O.A.T % 05-25/04/2055 EUR FRANCE O.A.T % 10-25/04/2060 EUR FRANCE O.A.T % 07-25/10/2023 EUR FRANCE O.A.T % 09-25/04/2041 EUR RESEAU FERRE FRANCE I/L 2.450% /02/2023 EUR Spain BASQUE GOVT 1.750% 16-16/03/2026 EUR COMUNIDAD MADRID 2.875% 14-17/07/2023 EUR FADE 0.850% 15-17/09/2019 EUR FFPP 2.450% 14-31/10/2018 EUR INSTIT CRDT OFCL 0.500% 16-26/10/2023 EUR SPAIN I/L BOND 0.550% 14-30/11/2019 EUR SPAIN I/L BOND 1.000% 15-30/11/2030 EUR SPANISH GOVT 0.250% 16-31/01/2019 EUR SPANISH GOVT 0.500% 14-31/10/2017 EUR SPANISH GOVT 0.750% 16-30/07/2021 EUR SPANISH GOVT 1.950% 15-30/07/2030 EUR SPANISH GOVT 1.950% 16-30/04/2026 EUR SPANISH GOVT 2.150% 15-31/10/2025 EUR SPANISH GOVT 2.750% 14-31/10/2024 EUR SPANISH GOVT 2.900% 16-31/10/2046 EUR SPANISH GOVT 3.450% 16-30/07/2066 EUR SPANISH GOVT 3.800% 14-30/04/2024 EUR SPANISH GOVT 4.000% 10-30/04/2020 EUR SPANISH GOVT 4.200% 05-31/01/2037 EUR SPANISH GOVT 4.500% 12-31/01/2018 EUR SPANISH GOVT 5.150% 13-31/10/2044 EUR SPANISH GOVT 5.400% 13-31/01/2023 EUR SPANISH GOVT 5.500% 11-30/04/2021 EUR Germany BUNDESREPUBLIK DEUTSCHLAND 0.000% /08/2026 EUR BUNDESREPUBLIK DEUTSCHLAND 0.500% /02/2025 EUR BUNDESREPUBLIK DEUTSCHLAND 0.500% /02/2026 EUR BUNDESREPUBLIK DEUTSCHLAND 1.000% /08/2025 EUR BUNDESREPUBLIK DEUTSCHLAND 1.500% /05/2023 EUR BUNDESREPUBLIK DEUTSCHLAND 2.500% /07/2044 EUR BUNDESREPUBLIK DEUTSCHLAND 4.000% /01/2037 EUR BUNDESREPUBLIK DEUTSCHLAND 4.250% /07/2039 EUR BUNDESREPUBLIK DEUTSCHLAND 4.750% /07/2040 EUR BUNDESREPUBLIK DEUTSCHLAND 4.750% /07/2028 EUR BUNDESREPUBLIK DEUTSCHLAND 5.500% /01/2031 EUR BUNDESREPUBLIK DEUTSCHLAND 5.625% /01/2028 EUR BUNDESREPUBLIK DEUTSCHLAND 6.250% /01/2030 EUR BUNDESREPUBLIK DEUTSCHLAND % 16-08/10/2021 EUR DEUTSCHLAND I/L 0.500% 14-15/04/2030 EUR KFW 0.000% 16-15/09/2023 EUR KFW 0.375% 15-23/04/2030 EUR KFW 0.625% 15-04/07/2022 EUR NORDRHEIN-WEST 1.625% 14-24/10/2030 EUR Page 79

82 Bond Euro Government Expressed in EUR Belgium BELGIUM GOVERNMENT 0.200% /10/2023 EUR BELGIUM GOVERNMENT 0.800% /06/2025 EUR BELGIUM GOVERNMENT % /09/2019 EUR BELGIUM GOVERNMENT 1.000% /06/2031 EUR BELGIUM GOVERNMENT 1.000% /06/2026 EUR BELGIUM GOVERNMENT 1.600% /06/2047 EUR The Netherlands BANK NEDERLANDSE GEMEENTEN 0.125% /11/2020 EUR NEDER FINANCIER 0.125% 15-20/04/2022 EUR NETHERLANDS GOVERNMENT 0.250% /07/2025 EUR NETHERLANDS GOVERNMENT 0.500% /07/2026 EUR NETHERLANDS GOVERNMENT 2.000% /07/2024 EUR NETHERLANDS GOVERNMENT 2.250% /07/2022 EUR NETHERLANDS GOVERNMENT 2.500% /01/2033 EUR NETHERLANDS GOVERNMENT 2.750% /01/2047 EUR NETHERLANDS GOVERNMENT 3.250% /07/2021 EUR NETHERLANDS GOVERNMENT 3.750% /01/2042 EUR NETHERLANDS GOVERNMENT 5.500% /01/2028 EUR NETHERLANDS GOVERNMENT 7 1/223-PRN % 93-15/01/2023 EUR Supranational EFSF 0.125% 15-04/11/2019 EUR EIB 0.000% 16-16/10/2023 EUR ESM 0.000% 16-18/10/2022 EUR Austria HAA-BANK INTL AG 2.375% 12-13/12/2022 EUR KA FINANZ 0.375% 15-11/08/2020 EUR REPUBLIC OF AUSTRIA 0.750% /10/2026 EUR REPUBLIC OF AUSTRIA 2.400% /05/2034 EUR REPUBLIC OF AUSTRIA 3.150% /06/2044 EUR Finland FINNISH GOVT 0.000% 16-15/09/2023 EUR FINNISH GOVT 0.500% 16-15/04/2026 EUR Portugal PORTUGUESE OTS 5.650% 13-15/02/2024 EUR Ireland IRISH GOVT 2.000% 15-18/02/2045 EUR Latvia REP OF LATVIA 0.375% 16-07/10/2026 EUR Slovenia REP OF SLOVENIA 1.750% 16-03/11/2040 EUR Greece HELLENIC REPUBLIC 0.000% 12-15/10/2042 EUR Money Market Instruments Italy ITALY CTZS 0.000% 16-28/03/2018 EUR ITALY CTZS 0.000% 16-28/03/2018 EUR ITALY CTZS 0.000% 16-28/12/2018 EUR Shares/Units in investment funds France BNP PARIBAS MOIS ISR - I - CAP EUR Luxembourg BNP PARIBAS INSTICASH MONEY 3M EUR I - CAP EUR BNP PARIBAS INSTICASH EUR - I - CAP EUR Total securities portfolio Page 80

83 Bond Euro High Yield Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Luxembourg ALTICE 6.250% 15-15/02/2025 EUR ALTICE 7.250% 14-15/05/2022 EUR ALTICE FINANCING 5.250% 15-15/02/2023 EUR ALTICE FINANCING 6.500% 13-15/01/2022 EUR ALTICE FINCO SA 9.000% 13-15/06/2023 EUR ARCELORMITTAL 5.875% 10-17/11/2017 EUR ARD FINANCE SA 6.625% 16-15/09/2023 EUR CNH IND FIN 6.250% 11-09/03/2018 EUR CONTOURGLOB PWR 5.125% 16-15/06/2021 EUR DEA FINANCE SA 7.500% 16-15/10/2022 EUR FIAT FIN & TRADE 7.000% 12-23/03/2017 EUR FIAT FIN & TRADE 7.375% 11-09/07/2018 EUR HEIDELBERGCEMENT 8.000% 09-31/01/2017 EUR HEIDELCEMENT FIN 9.500% 11-15/12/2018 EUR INEOS GROUP HOLD 5.375% 16-01/08/2024 EUR LECTA SA 6.500% 16-01/08/2023 EUR MATTERHORN TELE 3.875% 15-01/05/2022 EUR MATTERHORN TELE 4.875% 15-01/05/2023 EUR MONITCHEM HOLD % 14-15/06/2022 EUR MONITCHEM HOLD % 14-15/06/2021 EUR OLIVETTI FINANCE 7.750% 03-24/01/2033 EUR PETROBRAS INTL 5.875% 11-07/03/2022 EUR PETROBRAS INTL 6.250% 11-14/12/2026 GBP TELENET FINANCE VI 4.875% 15-15/07/2027 EUR TR OP / TR FIN 6.375% 15-01/05/2022 EUR WIND ACQUISITION 4.000% 14-15/07/2020 EUR WIND ACQUISITION 7.000% 14-23/04/2021 EUR ZINC CAPITAL 8.875% 11-15/05/2018 EUR United Kingdom ANGLO AMERICAN 1.750% 13-20/11/2017 EUR ANGLO AMERICAN 6.875% 08-01/05/2018 GBP ARQIVA BROAD FIN 9.500% 13-31/03/2020 GBP AVIS BUDGET FINA 4.125% 16-15/11/2024 EUR AVIS BUDGET FINA 6.000% 13-01/03/2021 EUR BAKKAVOR FIN % 11-15/02/2018 GBP CO-OP WHOLESALE 7.500% 11-08/07/2026 GBP EPHIOS HOLDCO II 8.250% 15-01/07/2023 EUR HEATHROW FINANC PLC 7.125% /03/2017 GBP INEOS FINANCE PL 4.000% 15-01/05/2023 EUR IRON MOUNTAIN EU 6.125% 14-15/09/2022 GBP LADBROKES GROUP 7.625% 10-05/03/2017 GBP LYNX I CORP 6.000% 13-15/04/2021 GBP STRETFORD 6.250% 14-15/07/2021 GBP TESCO CORP TREAS 1.375% 14-01/07/2019 EUR TESCO CORP TREAS 2.500% 14-01/07/2024 EUR TESCO PLC 5.000% 06-24/03/2023 GBP TESCO PLC 5.125% 07-10/04/2047 EUR TESCO PLC 5.500% 02-13/01/2033 GBP TESCO PLC 6.000% 99-14/12/2029 GBP VIRGIN MEDIA FIN 4.500% 15-15/01/2025 EUR VIRGIN MEDIA FIN 6.250% 14-28/03/2029 GBP VIRGIN MEDIA FIN 7.000% 13-15/04/2023 GBP VIRGIN MEDIA SEC 4.875% 15-15/01/2027 GBP VIRIDIAN GROUP 7.500% 15-01/03/2020 EUR The Netherlands ADRIA BIDCO BV 7.875% 13-15/11/2020 EUR AXALTA COATING 3.750% 16-15/01/2025 EUR CABLE & WIRELESS INT 8.625% /03/2019 GBP CABLE COMM SYST 5.000% 16-15/10/2023 EUR FRESENIUS FIN 2.375% 14-01/02/2019 EUR FRESENIUS FIN 2.875% 13-15/07/2020 EUR LGE HOLDCO VI 7.125% 14-15/05/2024 EUR OI EUROPEAN GRP 3.125% 16-15/11/2024 EUR PETROBRAS 4.750% 14-14/01/2025 EUR PETROBRAS INTL 3.250% 12-01/04/2019 EUR PETROBRAS INTL 4.250% 12-02/10/2023 EUR SCHAEFFLER VERWA 3.750% 16-15/09/2026 EUR UPC HOLDING BV 6.375% 12-15/09/2022 EUR ZIGGO SECURED FI 4.250% 16-15/01/2027 EUR France AREVA SA 3.125% 14-20/03/2023 EUR AREVA SA 3.250% 13-04/09/2020 EUR AREVA SA 3.500% 10-22/03/2021 EUR CASINO GUICHARD 4.379% 10-08/02/2017 EUR CROWN EUROPEAN 2.625% 16-30/09/2024 EUR CROWN EUROPEAN 3.375% 15-15/05/2025 EUR GIE PSA TRESORER 6.000% 03-19/09/2033 EUR HOMEVI 6.875% 14-15/08/2021 EUR MOBILUX FINANCE 5.500% 16-15/11/2024 EUR NEXANS SA 5.750% 07-02/05/2017 EUR NOVALIS SAS 3.000% 15-30/04/2022 EUR NUMERICABLE 5.375% 14-15/05/2022 EUR NUMERICABLE 5.625% 14-15/05/2024 EUR PAPREC HOLDING 7.375% 15-01/04/2023 EUR SPCM SA 2.875% 15-15/06/2023 EUR TEREOS FIN GROUP 4.250% 13-04/03/2020 EUR THOM EUROPE 7.375% 14-15/07/2019 EUR WFS GLOBAL HOLDINGS % /12/2022 EUR WFS GLOBAL HOLDINGS 9.500% /07/2022 EUR Germany FMC FINANCE VIII 6.500% 11-15/09/2018 EUR RAPID HOLDING 6.625% 15-15/11/2020 EUR THYSSENKRUPP 4.375% 12-28/02/2017 EUR UNITYMEDIA 3.500% 15-15/01/2027 EUR UNITYMEDIA 4.000% 14-15/01/2025 EUR UNITYMEDIA 4.625% 15-15/02/2026 EUR UNITYMEDIA 5.125% 13-21/01/2023 EUR UNITYMEDIA 5.500% 12-15/09/2022 EUR UNITYMEDIA 5.750% 12-15/01/2023 EUR UNITYMEDIA KABEL 3.750% 15-15/01/2027 EUR WEPA HYGIENEPROD 3.750% 16-15/05/2024 EUR United States of America ADIENT GLOBAL HO 3.500% 16-15/08/2024 EUR BELDEN INC 4.125% 16-15/10/2026 EUR BELDEN INC 5.500% 13-15/04/2023 EUR CELANESE US HOLDINGS 3.250% /10/2019 EUR CEMEX FINANCE 4.625% 16-15/06/2024 EUR FIAT FINANCE NA 5.625% 07-12/06/2017 EUR IMS HEALTH INC 3.500% 16-15/10/2024 EUR SEALED AIR CORP 4.500% 15-15/09/2023 EUR ZF NA CAPITAL 2.750% 15-27/04/2023 EUR Page 81

84 Bond Euro High Yield Expressed in EUR Italy TELECOM ITALIA 3.250% 15-16/01/2023 EUR TELECOM ITALIA 4.500% 12-20/09/2017 EUR TELECOM ITALIA 6.125% 12-14/12/2018 EUR TELECOM ITALIA 7.375% 09-15/12/2017 GBP Ireland ARDAGH PKG FIN 4.125% 16-15/05/2023 EUR ARDAGH PKG FIN 6.750% 16-15/05/2024 EUR EIRCOM FINANCE 4.500% 16-31/05/2022 EUR Japan SOFTBANK GROUP CORP 4.750% /07/2025 EUR SOFTBANK GROUP CORP 5.250% /07/2027 EUR Spain CELLNEX TELECOM 2.375% 16-16/01/2024 EUR Belgium BARRY CALLE SVCS 5.625% 11-15/06/2021 EUR BARRY CALLE SVCS 6.000% 07-13/07/2017 EUR Cayman Islands UPCB FINANCE IV 4.000% 15-15/01/2027 EUR Mexico CEMEX SAB 4.375% 15-05/03/2023 EUR Floating rate bonds The Netherlands ABN AMRO BANK NV 15-29/12/2049 FRN EUR GAS NAT FENOSA F 15-29/12/2049 FRN EUR ING GROEP NV 16-29/12/2049 FRN USD REPSOL INTL FIN 15-25/03/2075 FRN EUR TELEFONICA EUROP 13-29/09/2049 FRN EUR TELEFONICA EUROP 14-29/12/2049 FRN EUR TELEFONICA EUROP 14-31/03/2049 FRN EUR TELEFONICA EUROP 16-31/12/2049 FRN EUR France BNP PARIBAS 16-29/12/2049 FRN USD HOMEVI 16-15/11/2021 FRN EUR PICARD GROUPE 13-01/08/2019 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR United Kingdom ARROW GLOBAL FIN 16-01/05/2023 FRN EUR CO-OP GRP HLD 11-08/07/2020 SR GBP NEW LOOK SECURED 15-01/07/2022 FRN EUR Luxembourg LECTA SA 16-01/08/2022 FRN EUR SES 16-29/12/2049 FRN EUR WIND ACQUISITION 14-15/07/2020 FRN EUR WIND ACQUISITION 15-15/07/2020 FRN EUR Germany LANXESS 16-06/12/2076 FRN EUR Denmark DANSKE BANK A/S 14-31/10/2049 FRN EUR DANSKE BANK A/S 15-29/10/2049 FRN EUR Belgium KBC GROEP NV 14-29/03/2049 FRN EUR Australia ORIGIN ENERGY FIN 14-16/09/2074 FRN EUR Ireland BANK OF IRELAND 15-29/12/2049 FRN EUR Italy ENEL SPA 14-15/01/2075 FRN EUR Other transferable securities Floating rate bonds Luxembourg HELLAS II 06-15/01/2015 FRN DFLT EUR HELLAS TEL FIN 06-15/07/2015 FRN DFLT EUR Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH EUR - X - CAP EUR BNPP FLEXI I BOND EURO FOCUS CORPORATE - I - CAP EUR PARVEST BOND WORLD HIGH YIELD SHORT DURATION - X - CAP USD Ireland ISHARES HY CORP EUR Total securities portfolio Page 82

85 Bond Euro Inflation-Linked Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France FRANCE O.A.T % 16-01/03/2021 EUR FRANCE O.A.T % 16-25/07/2047 EUR FRANCE O.A.T. I/L 0.100% 12-25/07/2021 EUR FRANCE O.A.T. I/L 0.250% 13-25/07/2024 EUR FRANCE O.A.T.I/L 0.100% 15-01/03/2025 EUR FRANCE O.A.T.I/L 0.700% 14-25/07/2030 EUR FRANCE O.A.T.I/L 1.100% 10-25/07/2022 EUR FRANCE O.A.T.I/L 1.300% 10-25/07/2019 EUR FRANCE O.A.T.I/L 1.800% 07-25/07/2040 EUR FRANCE O.A.T.I/L 1.850% 11-25/07/2027 EUR FRANCE O.A.T.I/L 2.100% 07-25/07/2023 EUR FRANCE O.A.T.I/L 2.250% 04-25/07/2020 EUR FRANCE O.A.T.I/L 3.150% 02-25/07/2032 EUR FRANCE O.A.T.I/L 3.400% 99-25/07/2029 EUR RESEAU FERRE FRANCE I/L 2.450% /02/2023 EUR Italy ITALY BTPS I/L 0.100% 16-15/05/2022 EUR ITALY BTPS I/L 1.250% 15-15/09/2032 EUR ITALY BTPS I/L 1.650% 14-23/04/2020 EUR ITALY BTPS I/L 2.100% 06-15/09/2017 EUR ITALY BTPS I/L 2.100% 10-15/09/2021 EUR ITALY BTPS I/L 2.350% 04-15/09/2035 EUR ITALY BTPS I/L 2.350% 08-15/09/2019 EUR ITALY BTPS I/L 2.350% 14-15/09/2024 EUR ITALY BTPS I/L 2.550% 09-15/09/2041 EUR ITALY BTPS I/L 2.600% 07-15/09/2023 EUR ITALY BTPS I/L 3.100% 11-15/09/2026 EUR Germany DEUTSCHLAND I/L 0.100% 12-15/04/2023 EUR DEUTSCHLAND I/L 0.100% 15-15/04/2026 EUR DEUTSCHLAND I/L 0.100% 15-15/04/2046 EUR DEUTSCHLAND I/L 0.500% 14-15/04/2030 EUR DEUTSCHLAND I/L 0.750% 11-15/04/2018 EUR DEUTSCHLAND I/L 1.750% 09-15/04/2020 EUR Spain SPAIN I/L BOND 0.300% 16-30/11/2021 EUR SPAIN I/L BOND 0.550% 14-30/11/2019 EUR SPAIN I/L BOND 1.000% 15-30/11/2030 EUR SPAIN I/L BOND 1.800% 14-30/11/2024 EUR SPANISH GOVT 3.450% 16-30/07/2066 EUR Portugal PORTUGUESE OTS 5.650% 13-15/02/2024 EUR Ireland IRISH GOVT 3.400% 14-18/03/2024 EUR IRISH GOVT 5.400% 09-13/03/2025 EUR Total securities portfolio Page 83

86 Bond Euro Long Term Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Italy ITALY BTPS 1.650% 15-01/03/2032 EUR ITALY BTPS 2.700% 16-01/03/2047 EUR ITALY BTPS 4.000% 05-01/02/2037 EUR ITALY BTPS 4.500% 10-01/03/2026 EUR ITALY BTPS 5.000% 03-01/08/2034 EUR ITALY BTPS 5.000% 09-01/09/2040 EUR ITALY BTPS 6.500% 97-01/11/2027 EUR France FRANCE O.A.T % 14-25/05/2030 EUR FRANCE O.A.T % 12-25/10/2027 EUR FRANCE O.A.T % 13-25/05/2045 EUR FRANCE O.A.T % 06-25/10/2038 EUR FRANCE O.A.T % 10-25/04/2060 EUR SNCF RESEAU 1.000% 16-09/11/2031 EUR Germany BUNDESREPUBLIK DEUTSCHLAND 2.500% /08/2046 EUR BUNDESREPUBLIK DEUTSCHLAND 4.750% /07/2034 EUR BUNDESREPUBLIK DEUTSCHLAND 4.750% /07/2040 EUR BUNDESREPUBLIK DEUTSCHLAND 6.500% /07/2027 EUR DEUTSCHLAND I/L 0.500% 14-15/04/2030 EUR NORDRHEIN-WEST 1.000% 16-16/10/2046 EUR NORDRHEIN-WEST 2.375% 13-13/05/2033 EUR Spain SPANISH GOVT 1.950% 15-30/07/2030 EUR SPANISH GOVT 3.450% 16-30/07/2066 EUR SPANISH GOVT 4.200% 05-31/01/2037 EUR SPANISH GOVT 5.150% 13-31/10/2044 EUR The Netherlands NETHERLANDS GOVERNMENT 2.500% /01/2033 EUR Belgium BELGIUM GOVERNMENT % /03/2041 EUR BELGIUM GOVERNMENT 1.000% /06/2031 EUR BELGIUM GOVERNMENT 2.150% /06/2066 EUR BELGIUM GOVERNMENT 3.750% /06/2045 EUR BELGIUM OLO % 04-28/03/2035 EUR Austria OEBB INFRASTRUKTUR BAU 3.000% /10/2033 EUR REPUBLIC OF AUSTRIA 2.400% /05/2034 EUR Slovakia SLOVAKIA GOVT 3.625% 14-16/01/2029 EUR Ireland IRISH GOVT 2.000% 15-18/02/2045 EUR IRISH GOVT 2.400% 14-15/05/2030 EUR Portugal PORTUGUESE OTS 5.650% 13-15/02/2024 EUR Latvia REP OF LATVIA 0.375% 16-07/10/2026 EUR Total securities portfolio Page 84

87 Bond Euro Medium Term Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ACCOR 2.625% 14-05/02/2021 EUR AIR LIQUIDE FIN 0.125% 16-13/06/2020 EUR AUCHAN SA 2.875% 10-15/11/2017 EUR AUTOROUTES PARIS 1.125% 14-15/01/2021 EUR AUTOROUTES PARIS 5.125% 12-18/01/2018 EUR BPCE 0.625% 16-20/04/2020 EUR CARREFOUR SA 1.875% 12-19/12/2017 EUR CIE FINANCEMENT FONCIER 0.250% /03/2022 EUR CIE FINANCEMENT FONCIER 0.375% /10/2020 EUR CREDIT AGRICOLE HOME 0.125% /08/2020 EUR CREDIT MUTUEL ARKEA 4.500% /01/2017 EUR DANONE 0.167% 16-03/11/2020 EUR DANONE 1.125% 12-27/11/2017 EUR DANONE 1.250% 13-06/06/2018 EUR DEXIA CREDIT LOCAL 0.040% 16-11/12/2019 EUR DEXIA CREDIT LOCAL 0.200% 16-16/03/2021 EUR DEXIA CREDIT LOCAL 0.250% 15-19/03/2020 EUR EDENRED 3.625% 10-06/10/2017 EUR ELEC DE FRANCE 2.250% 13-27/04/2021 EUR EUTELSAT SA 1.125% 16-23/06/2021 EUR FRANCE O.A.T % 15-25/05/2020 EUR FRANCE O.A.T % 16-25/05/2022 EUR FRANCE O.A.T % 15-25/11/2020 EUR FRANCE O.A.T % 10-25/10/2020 EUR HSBC FRANCE 1.625% 13-03/12/2018 EUR HSBC FRANCE 1.875% 13-16/01/2020 EUR IMERYS SA 0.875% 16-31/03/2022 EUR KERING 1.875% 13-08/10/2018 EUR KLEPIERRE 2.750% 12-17/09/2019 EUR LA BANQUE POSTALE 1.875% 13-11/09/2020 EUR ORANGE 1.875% 13-03/09/2018 EUR SANOFI 0.000% 16-05/04/2019 EUR SANOFI 0.000% 16-13/01/2020 EUR SOCIETE GENERALE 0.125% 16-05/10/2021 EUR Spain AMADEUS CAP MKT 0.125% 16-06/10/2020 EUR BANCO BILBAO VIZCAYA 1.000% /01/2021 EUR BANKINTER SA 4.125% 12-22/03/2017 EUR CAJA RURAL NAV 2.875% 13-11/06/2018 EUR INSTIT CRDT OFCL 0.100% 16-12/09/2018 EUR KUTXABANK 1.750% 14-27/05/2021 EUR KUTXABANK 3.000% 13-01/02/2017 EUR RED ELECTRICA FI 4.750% 11-16/02/2018 EUR SPANISH GOVT 0.250% 16-31/01/2019 EUR SPANISH GOVT 0.750% 16-30/07/2021 EUR SPANISH GOVT 1.150% 15-30/07/2020 EUR SPANISH GOVT 1.400% 14-31/01/2020 EUR SPANISH GOVT 4.850% 10-31/10/2020 EUR SPANISH GOVT 5.850% 11-31/01/2022 EUR TELEFONICA EMIS 0.318% 16-17/10/2020 EUR TELEFONICA EMIS 3.661% 10-18/09/2017 EUR TELEFONICA EMIS 5.811% 12-05/09/2017 EUR Italy CREDITO EMILIANO 0.875% 14-05/11/2021 EUR EDISON SPA 3.875% 10-10/11/2017 EUR INTESA SANPAOLO 1.125% 15-14/01/2020 EUR INTESA SANPAOLO 5.000% 09-23/09/2019 EUR ITALY BTPS 0.650% 15-01/11/2020 EUR ITALY BTPS 1.350% 15-15/04/2022 EUR ITALY BTPS 2.150% 14-15/12/2021 EUR ITALY BTPS 3.750% 10-01/03/2021 EUR ITALY BTPS 3.750% 13-01/05/2021 EUR ITALY BTPS 4.750% 11-01/09/2021 EUR ITALY BTPS I/L 1.650% 14-23/04/2020 EUR The Netherlands ABN AMRO BANK NV 2.125% 13-26/11/2020 EUR ABN AMRO BANK NV 2.875% 15-30/06/2025 EUR BANK NEDERLANDSE GEMEENTEN 2.625% /09/2020 EUR BMW FINANCE NV 1.500% 12-05/06/2018 EUR EDP FINANCE BV 1.125% 16-12/02/2024 EUR GEN MOTORS FIN 1.168% 16-18/05/2020 EUR ING BANK NV 0.750% 16-22/02/2021 EUR LINDE FINANCE BV 3.125% 11-12/12/2018 EUR NETHERLANDS GOVERNMENT 3.250% /07/2021 EUR RABOBANK 4.125% 10-14/01/2020 EUR RABOBANK 4.125% 12-14/09/2022 EUR United Kingdom ABBEY NATIONAL TREASURY 0.875% /11/2020 EUR BRITISH TEL PLC 0.625% 16-10/03/2021 EUR CREDIT AGRICOLE 0.750% 16-01/12/2022 EUR CREDIT AGRICOLE 2.375% 13-27/11/2020 EUR CREDIT SUISSE LD 0.375% 16-11/04/2019 EUR CREDIT SUISSE LD 1.375% 14-29/11/2019 EUR UNILEVER NV 0.000% 16-29/04/2020 EUR UNILEVER NV 1.750% 13-05/08/2020 EUR Germany BUNDESREPUBLIK DEUTSCHLAND % 16-08/10/2021 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR DEUTSCHE BOERSE 1.125% 13-26/03/2018 EUR LAND HESSEN 0.125% 15-14/10/2019 EUR Belgium BELFIUS BANK SA 0.375% 14-27/11/2019 EUR BELFIUS BANK SA 2.250% 13-26/09/2018 EUR BELGIUM GOVERNMENT % /09/2021 EUR BNP PARIBAS FORTIS BANK 5.757% /10/2017 EUR KBC BANK NV 1.250% 13-28/05/2020 EUR Supranational EFSF 1.625% 13-17/07/2020 EUR ESM 0.100% 15-03/11/2020 EUR United States of America IBM CORP 1.875% 13-06/11/2020 EUR JOHNSON&JOHNSON 0.250% 16-20/01/2022 EUR MCDONALDS CORP 0.500% 16-15/01/2021 EUR MORGAN STANLEY 2.250% 13-12/03/2018 EUR Ireland BANK IRELAND MTGE 3.625% 13-02/10/2020 EUR ESB FINANCE LTD 4.375% 12-21/11/2019 EUR Page 85

88 Bond Euro Medium Term Expressed in EUR Sweden SKANDINAVISKA ENSKILDA BANK 0.750% /08/2021 EUR Portugal PORTUGUESE OTS 5.650% 13-15/02/2024 EUR Finland NORDEA BANK FINLAND 0.125% /06/2020 EUR Guernsey Island CREDIT SUISSE GUERNSEY 1.000% /03/2019 EUR South Korea KOREA DEV BANK 1.500% 13-30/05/2018 EUR Convertible bonds France AXA SA 3.750% 00-01/01/2017 CV FLAT EUR Floating rate bonds United States of America AT&T INC 14-04/06/2019 FRN EUR CITIGROUP INC 14-11/11/2019 FRN EUR FEDEX CORP 16-11/04/2019 FRN EUR GOLDMAN SACHS GP 16-27/07/2021 FRN EUR MORGAN STANLEY 16-03/12/2019 FRN EUR TOYOTA MTR CRED 15-20/07/2018 FRN EUR France BPCE 14-08/07/2026 FRN EUR CARREFOUR BANQUE 14-21/03/2018 FRN EUR LA BANQUE POSTALE 14-23/04/2026 FRN EUR SANOFI 14-10/09/2018 FRN EUR The Netherlands ING BANK NV 13-21/11/2023 FRN EUR Italy INTESA SANPAOLO SPA 07-18/05/2017 FRN EUR Norway DNB BANK ASA 13-26/09/2023 FRN EUR United Kingdom FCE BANK PLC 16-11/08/2018 FRN EUR Sweden NORDEA BANK AB 12-15/02/2022 FRN EUR Shares/Units in investment funds France BNP PARIBAS MOIS ISR - I - CAP EUR Total securities portfolio Page 86

89 Bond Euro Short Term Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ACCOR 2.875% 12-19/06/2017 EUR AGENCE FRANCAISE 0.125% 16-31/03/2021 EUR ARKEMA 4.000% 10-25/10/2017 EUR AUTOROUTES PARIS 5.000% 11-12/01/2017 EUR AUTOROUTES PARIS 5.125% 12-18/01/2018 EUR BANQUE FED CREDIT MUTUEL 0.250% /06/2019 EUR BNP PARIBAS 2.250% 14-13/01/2021 EUR BNP PARIBAS 3.000% 12-24/02/2017 EUR BOUYGUES 3.641% 10-29/10/2019 EUR BPCE 0.625% 16-20/04/2020 EUR BPCE 1.625% 13-08/02/2017 EUR BPCE SFH 1.750% 12-29/11/2019 EUR BPIFRANCE 0.100% 16-19/02/2021 EUR CAISSE REFIN HYPOT 3.500% 05-25/04/2017 EUR CAISSE REFIN L HAB 1.375% 13-25/10/2019 EUR CAISSE REFIN L HAB 3.750% 10-19/02/2020 EUR CASINO GUICHARD 4.481% 10-12/11/2018 EUR CIE FINANCEMENT FONCIER 0.125% /06/2018 EUR CREDIT AGRICOLE SA 0.000% 11-13/10/2019 EUR CREDIT AGRICOLE SA 4.150% 11-14/04/2019 EUR DANONE 0.167% 16-03/11/2020 EUR DEXIA CREDIT LOCAL 0.040% 16-11/12/2019 EUR DEXIA CREDIT LOCAL 0.200% 16-16/03/2021 EUR DEXIA CREDIT LOCAL 1.625% 13-29/10/2018 EUR EUTELSAT SA 4.125% 10-27/03/2017 EUR FRANCE O.A.T % 15-25/05/2020 EUR FRANCE O.A.T % 14-25/11/2019 EUR FRANCE O.A.T % 13-25/05/2018 EUR FRANCE O.A.T.I/L 0.250% 12-25/07/2018 EUR FRANCE O.A.T.I/L 1.300% 10-25/07/2019 EUR FRENCH BTAN 1.000% 12-25/07/2017 EUR LA BANQUE POSTALE 4.375% 10-30/11/2020 EUR NATIXIS 4.125% 06-20/01/2017 EUR PERNOD RICARD SA 5.000% 11-15/03/2017 EUR RCI BANQUE 0.375% 16-10/07/2019 EUR SAGESS 1.750% 12-22/10/2019 EUR SNCF RESEAU 0.100% 16-27/05/2021 EUR SOCIETE GENERALE 0.125% 16-05/10/2021 EUR THALES SA 1.625% 13-20/03/2018 EUR VIVENDI SA 0.750% 16-26/05/2021 EUR VIVENDI SA 4.000% 10-31/03/2017 EUR Italy ATLANTIA 3.625% 12-30/11/2018 EUR CASSA DEPO PREST 1.000% 14-26/01/2018 EUR EDISON SPA 3.875% 10-10/11/2017 EUR ENEL (ENTNZENEL) 4.875% 12-20/02/2018 EUR FERROV DEL STATO 4.000% 13-22/07/2020 EUR INTESA SANPAOLO 1.125% 15-14/01/2020 EUR INTESA SANPAOLO 3.000% 13-28/01/2019 EUR INTESA SANPAOLO 4.000% 10-08/11/2018 EUR INTESA SANPAOLO 5.000% 09-23/09/2019 EUR ITALY BTPS 0.650% 15-01/11/2020 EUR ITALY BTPS 0.750% 14-15/01/2018 EUR ITALY BTPS 1.050% 14-01/12/2019 EUR ITALY BTPS 2.250% I/L 13-22/04/2017 EUR ITALY BTPS 3.500% 13-01/06/2018 EUR ITALY BTPS 3.500% 13-01/12/2018 EUR ITALY BTPS 3.750% 10-01/03/2021 EUR ITALY BTPS I/L 1.650% 14-23/04/2020 EUR ITALY BTPS I/L 2.150% 13-12/11/2017 EUR POSTE ITALIANE 3.250% 13-18/06/2018 EUR POSTE VITA 2.875% 14-30/05/2019 EUR TERNA SPA 2.875% 12-16/02/2018 EUR UNIONE DI BANCHE 2.750% 13-28/04/2017 EUR Spain AMADEUS CAP MKT 0.125% 16-06/10/2020 EUR BANCO BILBAO VIZCAYA 1.000% /01/2021 EUR BANKINTER SA 4.125% 12-22/03/2017 EUR CAIXABANK 4.000% 12-16/02/2017 EUR CAJA RURAL NAV 2.875% 13-11/06/2018 EUR GAS NATURAL CAP 5.625% 11-09/02/2017 EUR INSTIT CRDT OFCL 0.100% 16-12/09/2018 EUR KUTXABANK 1.750% 14-27/05/2021 EUR KUTXABANK 3.000% 13-01/02/2017 EUR SANTANDER INTL 1.375% 14-25/03/2017 EUR SPANISH GOVT 0.250% 15-30/04/2018 EUR SPANISH GOVT 0.250% 16-31/01/2019 EUR SPANISH GOVT 0.500% 14-31/10/2017 EUR SPANISH GOVT 0.750% 16-30/07/2021 EUR SPANISH GOVT 1.150% 15-30/07/2020 EUR SPANISH GOVT 1.400% 14-31/01/2020 EUR SPANISH GOVT 3.750% 13-31/10/2018 EUR SPANISH GOVT 4.100% 08-30/07/2018 EUR SPANISH GOVT 5.500% 11-30/04/2021 EUR TELEFONICA EMIS 4.693% 09-11/11/2019 EUR TELEFONICA EMIS 4.710% 12-20/01/2020 EUR TELEFONICA EMIS 5.811% 12-05/09/2017 EUR Germany DAIMLER AG 0.250% 16-11/05/2020 EUR DAIMLER AG 0.500% 16-09/09/2019 EUR DEUTSCHLAND I/L 0.750% 11-15/04/2018 EUR HENKEL AG & CO 0.000% 16-13/09/2018 EUR KFW 0.125% 15-01/06/2020 EUR LAND HESSEN 0.125% 15-14/10/2019 EUR LANXESS 0.250% 16-07/10/2021 EUR The Netherlands ACHMEA BV 2.500% 13-19/11/2020 EUR ALLIANZ FINANCE 0.000% 16-21/04/2020 EUR AMADEUS FINANCE 0.625% 14-02/12/2017 EUR BANK NEDERLANDSE GEMEENTEN 0.125% /11/2020 EUR GEN MOTORS FIN 0.850% 15-23/02/2018 EUR NETHERLANDS GOVERNMENT 0.250% /01/2020 EUR NETHERLANDS GOVERNMENT 0.500% /04/2017 EUR PROPERTIZE BV 1.000% 14-18/02/2019 EUR RABOBANK 3.750% 10-09/11/2020 EUR RABOBANK 5.875% 09-20/05/2019 EUR VONOVIA BV 1.625% 15-15/12/2020 EUR Belgium ANHEUSER - BUSCH 0.625% 16-17/03/2020 EUR BELFIUS BANK SA 1.125% 14-22/05/2017 EUR BELFIUS BANK SA 1.250% 12-27/11/2017 EUR BELGIUM GOVERNMENT % /09/2019 EUR Page 87

90 Bond Euro Short Term Expressed in EUR BNP PARIBAS FORTIS BANK 5.757% /10/2017 EUR INBEV NV 4.000% 10-26/04/2018 EUR KBC BANK NV 1.125% 12-11/12/2017 EUR United States of America BANK OF AMERICA CORP 1.875% /01/2019 EUR BANK OF AMERICA CORP 4.625% /08/2017 EUR FEDEX CORP 0.500% 16-09/04/2020 EUR HONEYWELL INTERNATIONAL 0.650% /02/2020 EUR JP MORGAN CHASE 1.875% 12-21/11/2019 EUR MORGAN STANLEY 3.750% 12-21/09/2017 EUR Guernsey Island CREDIT SUISSE GUERNSEY 1.000% /03/2019 CREDIT SUISSE GUERNSEY 2.875% /10/2018 EUR EUR Ireland BANK IRELAND MTGE 1.750% 14-19/03/2019 EUR FCA CAPITAL IRE 1.250% 16-21/01/2021 EUR FGA CAPITAL IRE 2.875% 14-26/01/2018 EUR United Kingdom CREDIT AGRICOLE 1.875% 12-18/10/2017 EUR CREDIT SUISSE LD 0.625% 14-20/11/2018 EUR EVERYTH EVERYWH FIN 3.500% /02/2017 EUR FCE BANK PLC 1.750% 13-21/05/2018 EUR FCE BANK PLC 2.875% 12-03/10/2017 EUR UNILEVER NV 0.000% 16-29/04/2020 EUR Supranational ESM 0.100% 15-03/11/2020 EUR ESM 1.250% 13-15/10/2018 EUR Denmark CARLSBERG BREW 3.375% 10-13/10/2017 EUR Sweden NORDEA HYPOTEK 3.500% 10-18/01/2017 EUR Portugal BANCO SAN TOTTA 1.500% 14-03/04/2017 EUR PORTUGUESE OTS 3.850% 05-15/04/2021 EUR Austria KA FINANZ 0.375% 15-11/08/2020 EUR Cayman Islands HUTCHISON WHAMPOA 2.500% 12-06/06/2017 EUR Floating rate bonds Italy BANCA INTESA SPA 05-03/03/2017 FRN EUR INTESA SANPAOLO SPA 07-18/05/2017 FRN EUR ITALY CCTS EU 13-01/11/2018 FRN EUR ITALY CCTS EU 14-15/11/2019 FRN EUR UNICREDIT SPA 14-10/04/2017 FRN EUR United States of America AT&T INC 14-04/06/2019 FRN EUR BANK OF AMERICA CORP /07/2019 FRN EUR CITIGROUP GLOBAL 16-22/02/2018 FRN EUR COLGATE-PALMOLIVE CO /05/2019 FRN EUR GOLDMAN SACHS GP 15-11/09/2018 FRN EUR United Kingdom CREDIT SUISSE LD 15-10/11/2017 FRN EUR FCE BANK PLC 16-11/08/2018 FRN EUR WESTPAC SECURITIES NZ L /03/2017 FRN EUR The Netherlands ABN AMRO BANK NV 13-05/12/2017 FRN EUR VONOVIA BV 15-15/12/2017 FRN EUR Ireland CATERPILLAR INTL 15-13/05/2018 FRN EUR GE CAP EUR FUND 11-15/06/2017 FRN EUR France BNP PARIBAS 15-19/01/2017 FRN EUR RCI BANQUE 14-27/11/2017 FRN EUR RCI BANQUE 15-16/07/2018 FRN EUR SANOFI 14-10/09/2018 FRN EUR SOCIETE GENERALE 15-16/01/2017 FRN EUR Belgium BELFIUS BANK SA 16-14/09/2018 FRN EUR SOLVAY SA 15-01/12/2017 FRN EUR Germany SAP SE 14-20/11/2018 FRN EUR Sweden SBAB BANK AB 15-27/06/2018 FRN EUR Australia NATIONAL AUSTRALIA BANK /01/2018 FRN EUR Money Market Instruments France EXANE FINANCE CRT 09/03/2017 EONCAPL7 EUR Italy ITALY CTZS 0.000% 16-28/12/2018 EUR Sweden SCANIA CV AB 0.000% 17/05/2017 CP EUR Shares/Units in investment funds France BNP PARIBAS LCR 1 FCP EUR BNP PARIBAS MOIS ISR - I - CAP EUR Total securities portfolio Page 88

91 Bond Euro Short Term Corporate Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ACCOR 2.875% 12-19/06/2017 EUR AIR LIQUIDE FIN 0.125% 16-13/06/2020 EUR AIR LIQUIDE SA 2.908% 10-12/10/2018 EUR ALD INTERNATION 0.750% 15-26/01/2018 EUR ALSTOM 2.250% 12-11/10/2017 EUR ALSTOM 4.125% 10-01/02/2017 EUR AUCHAN SA 2.875% 10-15/11/2017 EUR AUCHAN SA 3.625% 11-19/10/2018 EUR AUTOROUTES DU SUD 4.000% /09/2018 EUR AUTOROUTES PARIS 4.875% 11-21/01/2019 EUR AUTOROUTES PARIS 5.000% 11-12/01/2017 EUR BANQUE FED CREDIT MUTUEL 0.250% /06/2019 EUR BANQUE FED CREDIT MUTUEL 1.625% /01/2018 EUR BANQUE FED CREDIT MUTUEL 2.000% /09/2019 EUR BANQUE FED CREDIT MUTUEL 2.875% /06/2017 EUR BANQUE FED CREDIT MUTUEL 3.750% /01/2018 EUR BANQUE FED CREDIT MUTUEL 4.000% /10/2020 EUR BANQUE FED CREDIT MUTUEL 4.625% /04/2017 EUR BNP PARIBAS 1.500% 13-12/03/2018 EUR BNP PARIBAS 2.000% 13-28/01/2019 EUR BNP PARIBAS 2.500% 12-23/08/2019 EUR BNP PARIBAS 2.875% 12-27/11/2017 EUR BNP PARIBAS 3.000% 12-24/02/2017 EUR BNP PARIBAS 3.750% 10-25/11/2020 EUR BNP PARIBAS 5.200% 07-28/09/2017 EUR BNP PARIBAS 5.431% 07-07/09/2017 EUR BNP PARIBAS 7.781% 08-29/06/2049 EUR BOUYGUES 3.641% 10-29/10/2019 EUR BOUYGUES 4.000% 10-12/02/2018 EUR BPCE 0.375% 16-05/10/2023 EUR BPCE 0.625% 16-20/04/2020 EUR BPCE 0.750% 15-22/01/2020 EUR BPCE 1.375% 14-22/05/2019 EUR BPCE 1.625% 13-08/02/2017 EUR BPCE 3.700% 05-16/12/2017 EUR BPCE 3.750% 10-21/07/2017 EUR CAISSE CENT IMMO 4.000% 10-12/01/2018 EUR CAP GEMINI SA 0.500% 16-09/11/2021 EUR CAP GEMINI SA 1.750% 15-01/07/2020 EUR CARREFOUR SA 1.750% 13-22/05/2019 EUR CARREFOUR SA 1.875% 12-19/12/2017 EUR CARREFOUR SA 5.250% 11-24/10/2018 EUR CASINO GUICHARD 4.379% 10-08/02/2017 EUR CASINO GUICHARD 4.481% 10-12/11/2018 EUR CIE DE ST GOBAIN 0.000% 16-27/03/2020 EUR CREDIT AGRICOLE 5.875% 09-11/06/2019 EUR CREDIT AGRICOLE SA 4.150% 11-14/04/2019 EUR DANONE 1.125% 12-27/11/2017 EUR ENGIE 1.500% 12-20/07/2017 EUR EUTELSAT SA 1.125% 16-23/06/2021 EUR EUTELSAT SA 2.625% 13-13/01/2020 EUR EUTELSAT SA 4.125% 10-27/03/2017 EUR EUTELSAT SA 5.000% 11-14/01/2019 EUR GDF SUEZ 2.750% 10-18/10/2017 EUR GDF SUEZ 3.125% 11-21/01/2020 EUR GECINA 4.750% 12-11/04/2019 EUR IMERYS SA 2.500% 13-26/11/2020 EUR IMERYS SA 5.000% 07-18/04/2017 EUR JC DECAUX SA 2.000% 13-08/02/2018 EUR KERING 1.875% 13-08/10/2018 EUR KLEPIERRE 4.000% 10-13/04/2017 EUR LAGARDERE SCA 4.125% 12-31/10/2017 EUR LEGRAND SA 4.250% 10-24/02/2017 EUR MERCIALYS 4.125% 12-26/03/2019 EUR NATIXIS 4.125% 06-20/01/2017 EUR NUMERICABLE 5.375% 14-15/05/2022 EUR ORANGE 1.875% 13-02/10/2019 EUR ORANGE 3.875% 10-14/01/2021 EUR ORANGE 4.125% 11-23/01/2019 EUR ORANGE 4.750% 07-21/02/2017 EUR ORANGE 5.625% 08-22/05/2018 EUR PERNOD RICARD SA 5.000% 11-15/03/2017 EUR PERNOD-RICARD SA 2.000% 14-22/06/2020 EUR PEUGEOT 6.500% 13-18/01/2019 EUR PEUGEOT 7.375% 13-06/03/2018 EUR RCI BANQUE 0.375% 16-10/07/2019 EUR RCI BANQUE 0.625% 15-04/03/2020 EUR RCI BANQUE 1.125% 14-30/09/2019 EUR RCI BANQUE 1.375% 15-17/11/2020 EUR RCI BANQUE 4.250% 12-27/04/2017 EUR RENAULT 3.625% 13-19/09/2018 EUR RENAULT 4.625% 12-18/09/2017 EUR RENAULT 5.625% 10-22/03/2017 EUR RTE EDF TRANSPORT 2.125% 12-20/09/2019 EUR SANOFI 0.000% 16-05/04/2019 EUR SANOFI 0.000% 16-13/01/2020 EUR SANOFI 0.000% 16-13/09/2022 EUR SANOFI 1.000% 12-14/11/2017 EUR SANOFI 1.875% 13-04/09/2020 EUR SOCIETE GENERALE 0.125% 16-05/10/2021 EUR SOCIETE GENERALE 0.750% 15-25/11/2020 EUR SOCIETE GENERALE 0.750% 16-19/02/2021 EUR SOCIETE GENERALE 1.000% 16-01/04/2022 EUR SOCIETE GENERALE 3.125% 10-21/09/2017 EUR SOCIETE GENERALE 3.750% 12-01/03/2017 EUR SOCIETE GENERALE 6.125% 08-20/08/2018 EUR ST GOBAIN 4.000% 10-08/10/2018 EUR ST GOBAIN 4.500% 11-30/09/2019 EUR ST GOBAIN 4.750% 07-11/04/2017 EUR TEREOS FIN GROUP 4.250% 13-04/03/2020 EUR TOTAL CAPITAL 4.700% 07-06/06/2017 EUR UNIBAIL-RODAMCO SE 1.875% /10/2018 EUR UNIBAIL-RODAMCO SE 3.000% /03/2019 EUR VALEO SA 4.875% 11-11/05/2018 EUR VALEO SA 5.750% 12-19/01/2017 EUR VEOLIA ENVIRONNEMENT 4.375% /12/2020 EUR VEOLIA ENVIRONNEMENT 6.750% /04/2019 EUR VINCI SA 4.125% 11-20/02/2017 EUR VIVENDI SA 0.750% 16-26/05/2021 EUR VIVENDI SA 4.000% 10-31/03/2017 EUR VIVENDI SA 4.875% 09-02/12/2019 EUR WENDEL SA 1.000% 16-20/04/2023 EUR WENDEL SA 1.875% 15-10/04/2020 EUR Page 89

92 Bond Euro Short Term Corporate Expressed in EUR The Netherlands ABB FINANCE BV 2.625% 12-26/03/2019 EUR ABN AMRO BANK NV 0.625% 16-31/05/2022 EUR ABN AMRO BANK NV 1.875% 12-31/07/2019 EUR ABN AMRO BANK NV 2.875% 15-30/06/2025 EUR ABN AMRO BANK NV 3.625% 10-06/10/2017 EUR ABN AMRO BANK NV 4.750% 12-11/01/2019 EUR ABN AMRO BANK NV 6.375% 11-27/04/2021 EUR ACHMEA BANK NV 0.875% 15-17/09/2018 EUR ADECCO INT FIN 2.750% 13-15/11/2019 EUR ALLIANZ FINANCE 0.000% 16-21/04/2020 EUR ALLIANZ FINANCE 1.375% 13-13/03/2018 EUR AMADEUS FINANCE 0.625% 14-02/12/2017 EUR BASF FIN EUROPNV 0.000% 16-10/11/2020 EUR BMW FINANCE NV 0.125% 16-15/04/2020 EUR BMW FINANCE NV 0.500% 14-05/09/2018 EUR BMW FINANCE NV 0.500% 15-21/01/2020 EUR BMW FINANCE NV 0.875% 15-17/11/2020 EUR BMW FINANCE NV 1.625% 14-17/07/2019 EUR BMW FINANCE NV 3.250% 12-14/01/2019 EUR BMW FINANCE NV 3.625% 11-29/01/2018 EUR BMW FINANCE NV 3.875% 10-18/01/2017 EUR COCA-COLA HBC BV 2.375% 13-18/06/2020 EUR CONTI - GUMMI FIN 2.500% 13-20/03/2017 EUR CRH FINANCE BV 5.000% 12-25/01/2019 EUR DELTA LLOYD 4.250% 10-17/11/2017 EUR DEUTSCH POST FIN 1.875% 12-27/06/2017 EUR DEUTSCHE ANN FIN 3.125% 13-25/07/2019 EUR DEUTSCHE BAHN FIN 0.000% 16-19/07/2021 EUR DEUTSCHE TEL FIN 0.250% 16-19/04/2021 EUR DEUTSCHE TEL FIN 6.000% 09-20/01/2017 EUR E.ON INTL FIN BV 5.750% 08-07/05/2020 EUR EADS FINANCE BV 5.500% 03-25/09/2018 EUR EDP FINANCE BV 2.625% 14-15/04/2019 EUR EDP FINANCE BV 5.750% 12-21/09/2017 EUR ENEL FINANCE INTL NV 3.625% /04/2018 EUR ENEL FINANCE INTL NV 4.125% /07/2017 EUR ENEL FINANCE INTL NV 4.875% /03/2020 EUR ENEL FINANCE INTL NV 5.750% /10/2018 EUR FRESENIUS FIN 2.375% 14-01/02/2019 EUR GEN MOTORS FIN 0.850% 15-23/02/2018 EUR GEN MOTORS FIN 1.168% 16-18/05/2020 EUR GEN MOTORS FIN 1.875% 14-15/10/2019 EUR HEINEKEN NV 1.250% 15-10/09/2021 EUR HEINEKEN NV 2.125% 12-04/08/2020 EUR IBERDROLA INTL 4.250% 12-11/10/2018 EUR ING BANK NV 0.750% 15-24/11/2020 EUR ING BANK NV 0.750% 16-22/02/2021 EUR ING BANK NV 1.250% 14-13/12/2019 EUR ING BANK NV 1.875% 13-27/02/2018 EUR ING BANK NV 3.250% 12-03/04/2019 EUR ING GROEP NV 4.750% 07-31/05/2017 EUR INNOGY FINANCE BV 6.625% 31/01/2019 EUR JAB HOLDINGS 1.500% 14-24/11/2021 EUR KBC IFIMA NV 2.125% 13-10/09/2018 EUR KBC IFIMA NV 4.500% 12-27/03/2017 EUR KPN NV 7.500% 09-04/02/2019 EUR LEASEPLAN CORP 1.000% 16-08/04/2020 EUR LEASEPLAN CORP 1.000% 16-24/05/2021 EUR LINDE FINANCE BV 3.125% 11-12/12/2018 EUR LINDE FINANCE BV 4.750% 07-24/04/2017 EUR METRO FINANCE BV 4.250% 10-22/02/2017 EUR NEDERLANDSE GASU 0.000% 16-18/11/2019 EUR NOMURA EUROPE FN 1.125% 15-03/06/2020 EUR NOMURA EUROPE FN 1.875% 13-29/05/2018 EUR PACCAR FINANCIAL 0.125% 16-24/05/2019 EUR RABOBANK 1.750% 14-22/01/2019 EUR RABOBANK 3.375% 10-21/04/2017 EUR RABOBANK 3.500% 11-17/10/2018 EUR RABOBANK 4.250% 07-16/01/2017 EUR RABOBANK 4.750% 08-15/01/2018 EUR RABOBANK 5.875% 09-20/05/2019 EUR REPSOL INTL FIN 4.375% 12-20/02/2018 EUR REPSOL INTL FIN 4.750% 07-16/02/2017 EUR ROCHE FINANCE EU 2.000% 12-25/06/2018 EUR SHELL INTL FIN 4.625% 07-22/05/2017 EUR SHELL INTL FIN BV 4.375% 09-14/05/2018 EUR SIEMENS FINAN 1.750% 13-12/03/2021 EUR SIEMENS FINAN 5.125% 09-20/02/2017 EUR SUEDZUCKER INT 4.125% 11-29/03/2018 EUR TENNET HLD BV 3.875% 11-21/02/2018 EUR TEVA PHARMACEUT FNC 0.375% /07/2020 EUR VOLKSWAGEN INTFN 3.250% 12-21/01/2019 EUR VONOVIA FINANCE 0.875% 15-30/03/2020 EUR United Kingdom I GROUP PLC 5.625% 10-17/03/2017 EUR ABBEY NATIONAL TREASURY 1.750% /01/2018 EUR ABBEY NATIONAL TREASURY 2.000% /01/2019 EUR ANGLO AMERICAN 1.750% 13-20/11/2017 EUR ANGLO AMERICAN 1.750% 14-03/04/2018 EUR ASTRAZENECA PLC 0.250% 16-12/05/2021 EUR AVIVA PLC 0.100% 16-13/12/2018 EUR BARCLAYS BANK PLC 4.000% 10-20/01/2017 EUR BARCLAYS BANK PLC 6.000% 08-23/01/2018 EUR BAT INTL FINANCE 0.375% 15-13/03/2019 EUR BAT INTL FINANCE 5.375% 07-29/06/2017 EUR BG ENERGY CAP 3.000% 11-16/11/2018 EUR BP CAPITAL PLC 3.830% 10-06/10/2017 EUR BP CAPITAL PLC 4.154% 11-01/06/2020 EUR BRITISH TEL PLC 1.125% 14-10/06/2019 EUR COCA-COLA EURO 0.750% 16-24/02/2022 EUR CREDIT AGRICOLE 1.750% 13-12/03/2018 EUR CREDIT AGRICOLE 1.875% 12-18/10/2017 EUR CREDIT AGRICOLE SA 3.875% 12-13/02/2019 EUR CREDIT SUISSE LD 0.375% 16-11/04/2019 EUR CREDIT SUISSE LD 0.500% 15-29/03/2018 EUR CREDIT SUISSE LD 0.625% 14-20/11/2018 EUR CREDIT SUISSE LD 1.375% 14-29/11/2019 EUR CREDIT SUISSE LD 4.750% 09-05/08/2019 EUR FCE BANK PLC 1.114% 15-13/05/2020 EUR FCE BANK PLC 1.528% 15-09/11/2020 EUR FCE BANK PLC 1.750% 13-21/05/2018 EUR FCE BANK PLC 1.875% 14-18/04/2019 EUR FCE BANK PLC 2.875% 12-03/10/2017 EUR GLAXOSMITHKLINE 5.625% 07-13/12/2017 EUR HAMMERSON PLC 2.750% 12-26/09/2019 EUR HEATHROW FUNDING LTD 4.375% /01/2017 EUR HSBC HOLDINGS PLC 6.000% 09-10/06/2019 EUR Page 90

93 Bond Euro Short Term Corporate Expressed in EUR HSBC HOLDINGS PLC 6.250% 08-19/03/2018 EUR IMP BRANDS FIN 4.500% 11-05/07/2018 EUR INTL GAME TECH 4.125% 15-15/02/2020 EUR LLOYDS BANK PLC 0.375% 16-18/01/2021 EUR LLOYDS BANK PLC 0.625% 15-20/04/2020 EUR LLOYDS BANK PLC 1.875% 13-10/10/2018 EUR LLOYDS TSB BANK 4.625% 12-02/02/2017 EUR LLOYDS TSB BANK 5.375% 09-03/09/2019 EUR MONDI FINANCE LT 5.750% 10-03/04/2017 EUR MOTABILITY OPER 3.250% 12-30/11/2018 EUR NATIONWIDE BLDG 0.500% 16-29/10/2019 EUR NATIONWIDE BLDG 3.125% 12-03/04/2017 EUR NATIONWIDE BLDG 4.125% 13-20/03/2023 EUR PIRELLI INTL LTD 1.750% 14-18/11/2019 EUR ROYAL BANK SCOTLAND 4.350% /01/2017 EUR ROYAL BANK SCOTLAND 5.375% /09/2019 EUR ROYAL BANK SCOTLAND 6.934% /04/2018 EUR STANDARD CHARTERED 5.875% /09/2017 EUR TESCO CORP TREAS 1.250% 13-13/11/2017 EUR THOMAS COOK GROUP 6.250% /06/2022 EUR UBS AG LONDON 0.500% 15-15/05/2018 EUR UBS AG LONDON 1.125% 15-30/06/2020 EUR UBS AG LONDON 1.250% 14-03/09/2021 EUR UNILEVER NV 0.000% 16-29/04/2020 EUR VIRIDIAN GROUP 7.500% 15-01/03/2020 EUR VODAFONE GROUP 0.875% 15-17/11/2020 EUR WPP FINANCE % 15-18/11/2019 EUR YORKSHRE BLD SOC 2.125% 14-18/03/2019 EUR Spain ABERTIS 5.125% 07-12/06/2017 EUR AMADEUS CAP MKT 0.125% 16-06/10/2020 EUR BANCO BILBAO VIZCAYA 0.625% /05/2021 EUR BANCO BILBAO VIZCAYA 1.000% /01/2021 EUR BANCO POP ESPAN 2.125% 14-08/10/2019 EUR BANCO SABADELL 0.625% 15-03/11/2020 EUR BANKIA 3.500% 14-17/01/2019 EUR BANKINTER SA 1.750% 14-10/06/2019 EUR BBVA SENIOR FIN 2.375% 14-22/01/2019 EUR BBVA SENIOR FIN 3.750% 13-17/01/2018 EUR BPE FINANCIACION 2.000% 15-03/02/2020 EUR CAIXABANK 2.500% 13-18/04/2017 EUR CAIXABANK S.A 3.125% 13-14/05/2018 EUR CAJA MADRID 4.250% 06-25/05/2018 EUR ENAGAS FIN SA 4.250% 12-05/10/2017 EUR FERROVIAL EMISIO 3.375% 13-30/01/2018 EUR GAS NATURAL CAP 4.125% 10-26/01/2018 EUR GAS NATURAL CAP 4.125% 12-24/04/2017 EUR GAS NATURAL CAP 5.000% 12-13/02/2018 EUR GAS NATURAL CAP 5.625% 11-09/02/2017 EUR GAS NATURAL CAP 6.375% 09-09/07/2019 EUR MADRILENA RED FI 3.779% 13-11/09/2018 EUR SANTANDER CONS FIN 0.750% /04/2019 EUR SANTANDER CONS FIN 0.900% /02/2020 EUR SANTANDER CONS FIN 1.000% /05/2021 EUR SANTANDER CONS FIN 1.100% /07/2018 EUR SANTANDER INTL 1.375% 14-25/03/2017 EUR SANTANDER INTL 4.000% 12-27/03/2017 EUR SANTANDER INTL 4.000% 13-24/01/2020 EUR SANTANDER INTL 4.125% 10-04/10/2017 EUR TELEFONICA EMIS 0.318% 16-17/10/2020 EUR TELEFONICA EMIS 2.736% 13-29/05/2019 EUR TELEFONICA EMIS 3.661% 10-18/09/2017 EUR TELEFONICA EMIS 4.693% 09-11/11/2019 EUR TELEFONICA EMIS 4.750% 11-07/02/2017 EUR TELEFONICA EMIS 4.797% 12-21/02/2018 EUR TELEFONICA EMIS 5.811% 12-05/09/2017 EUR United States of America ABBVIE INC 0.375% 16-18/11/2019 EUR AIR PROD & CHEM 0.375% 16-01/06/2021 EUR AMERICAN EXPRESS 0.625% 16-22/11/2021 EUR AMGEN INC 2.125% 12-13/09/2019 EUR BANK OF AMERICA CORP 1.875% /01/2019 EUR BANK OF AMERICA CORP 4.625% /02/2017 EUR BANK OF AMERICA CORP 4.625% /08/2017 EUR BANK OF AMERICA CORP 4.750% /04/2017 EUR BERKSHIRE HATHAWAY 0.500% /03/2020 EUR BMW US CAP LLC 1.000% 13-18/07/2017 EUR BMW US CAP LLC 1.450% 16-13/09/2019 USD CARGILL INC 4.875% 07-29/05/2017 EUR CITIGROUP INC 1.750% 13-29/01/2018 EUR CITIGROUP INC 4.375% 06-02/11/2018 EUR CITIGROUP INC 4.375% 07-30/01/2017 EUR CITIGROUP INC 5.000% 04-02/08/2019 EUR CITIGROUP INC 7.375% 09-04/09/2019 EUR CONTL RUBBER 0.500% 15-19/02/2019 EUR DB CAP TRUST IV 8.000% /05/2049 PERP EUR FEDEX CORP 0.500% 16-09/04/2020 EUR FIAT FINANCE NA 5.625% 07-12/06/2017 EUR GOLDMAN SACHS GP 0.750% 16-10/05/2019 EUR GOLDMAN SACHS GP 4.375% 10-16/03/2017 EUR GOLDMAN SACHS GP 4.500% 07-30/01/2017 EUR GOLDMAN SACHS GP 4.750% 06-12/10/2021 EUR GOLDMAN SACHS GP 5.125% 09-23/10/2019 EUR GOLDMAN SACHS GP 6.375% 08-02/05/2018 EUR HONEYWELL INTERNATIONAL 0.650% /02/2020 EUR IBM CORP 1.375% 12-19/11/2019 EUR JOHNSON&JOHNSON 0.250% 16-20/01/2022 EUR JOHNSON&JOHNSON 4.750% 07-06/11/2019 EUR JP MORGAN CHASE 1.875% 12-21/11/2019 EUR KELLOGG CO 1.750% 14-24/05/2021 EUR MCDONALDS CORP 0.500% 16-15/01/2021 EUR MERRILL LYNCH 4.625% 06-14/09/2018 EUR MET LIFE GLOB 2.375% 12-30/09/2019 EUR MET LIFE GLOB 4.625% 07-16/05/2017 EUR MONDELEZ INTERNATIONAL INC 1.125% /01/2017 EUR MORGAN STANLEY 2.250% 13-12/03/2018 EUR MORGAN STANLEY 3.750% 12-21/09/2017 EUR MORGAN STANLEY 5.000% 07-02/05/2019 EUR MORGAN STANLEY 5.375% 10-10/08/2020 EUR MORGAN STANLEY 6.500% 08-28/12/2018 EUR MYLAN NV 1.250% 16-23/11/2020 EUR PHILIP MORRIS INTERNATIONAL 2.125% /05/2019 EUR PPG INDUSTRIES 0.000% 16-03/11/2019 EUR SABMILLER HLD IN 1.875% 12-20/01/2020 EUR SES GLOBAL GROUP 1.875% 13-24/10/2018 EUR Page 91

94 Bond Euro Short Term Corporate Expressed in EUR SIMON PROPERTY GP LP 2.375% /10/2020 EUR TOYOTA MTR CRED 1.000% 14-10/09/2021 EUR TOYOTA MTR CRED 1.250% 13-01/08/2017 EUR WACHOVIA CORP 4.375% 06-27/11/2018 EUR WELLS FARGO & CO 1.125% 14-29/10/2021 EUR WHIRLPOOL CORP 0.625% 15-12/03/2020 EUR ZF NA CAPITAL 2.250% 15-26/04/2019 EUR Italy ASSICURAZIONI GENERALI 2.875% /01/2020 EUR ATLANTIA 3.625% 12-30/11/2018 EUR ENEL (ENTNZENEL) 4.875% 12-20/02/2018 EUR ENEL (ENTNZENEL) 5.250% 07-20/06/2017 EUR ENI SPA 3.500% 10-29/01/2018 EUR ENI SPA 4.125% 09-16/09/2019 EUR ENI SPA 4.875% 11-11/10/2017 EUR INTESA SANPAOLO 1.125% 15-14/01/2020 EUR INTESA SANPAOLO 3.000% 13-28/01/2019 EUR INTESA SANPAOLO 4.000% 10-08/11/2018 EUR INTESA SANPAOLO 4.000% 12-09/11/2017 EUR INTESA SANPAOLO 4.750% 07-15/06/2017 EUR INTESA SANPAOLO 5.000% 12-28/02/2017 EUR INTESA SANPAOLO 6.625% 08-08/05/2018 EUR LUXOTTICA 3.625% 12-19/03/2019 EUR SNAM 0.000% 16-25/10/2020 EUR SNAM SPA 1.500% 14-24/04/2019 EUR SNAM SPA 2.375% 13-30/06/2017 EUR TELECOM ITALIA 6.125% 12-14/12/2018 EUR TELECOM ITALIA 7.000% 11-20/01/2017 EUR TERNA SPA 2.875% 12-16/02/2018 EUR UNICREDIT SPA 1.500% 14-19/06/2019 EUR UNICREDIT SPA 3.375% 12-11/01/2018 EUR UNICREDIT SPA 3.625% 13-24/01/2019 EUR UNICREDIT SPA 4.875% 12-07/03/2017 EUR UNICREDIT SPA 6.700% 08-05/06/2018 EUR UNICREDITO ITALIANO 5.750% /09/2017 EUR UNIONE DI BANCHE 2.875% 14-18/02/2019 EUR Germany BASF SE 1.375% 14-22/01/2019 EUR BAYER AG 1.125% 14-24/01/2018 EUR COMMERZBANK AG 0.500% 15-03/04/2018 EUR COMMERZBANK AG 0.500% 16-13/09/2023 EUR COMMERZBANK AG 3.625% 12-10/07/2017 EUR COMMERZBANK AG 3.875% 10-22/03/2017 EUR COMMERZBANK AG 6.375% 11-22/03/2019 EUR CONTINENTAL AG 0.000% 16-05/02/2020 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR DAIMLER AG 0.500% 16-09/09/2019 EUR DAIMLER AG 0.875% 16-12/01/2021 EUR DAIMLER AG 1.500% 13-19/11/2018 EUR DAIMLER AG 2.000% 12-05/05/2017 EUR DEUTSCHE BANK AG 1.000% 16-18/03/2019 EUR DEUTSCHE BANK AG 5.125% 07-31/08/2017 EUR DEUTSCHE POST AG 0.375% 16-01/04/2021 EUR EVONIK 1.875% 13-08/04/2020 EUR HENKEL AG & CO 0.000% 16-13/09/2018 EUR HENKEL AG & CO 0.000% 16-13/09/2021 EUR KNORR BREMSE AG 0.500% 16-08/12/2021 EUR LANXESS 0.250% 16-07/10/2021 EUR MERCK FIN SERVIC 0.750% 15-02/09/2019 EUR MERCK FIN SERVIC 4.500% 10-24/03/2020 EUR METRO AG 3.375% 12-01/03/2019 EUR RAPID HOLDING 6.625% 15-15/11/2020 EUR ROBERT BOSCH 5.125% 09-12/06/2017 EUR TELFONICA DEUTSC 1.875% 13-22/11/2018 EUR UNIPER SE 0.125% 16-08/12/2018 EUR VOLKSWAGEN LEAS 1.000% 14-04/10/2017 EUR VOLKSWAGEN LEAS 3.250% 11-10/05/2018 EUR WEPA HYGIENEPROD 3.750% 16-15/05/2024 EUR Ireland ALLIED IRISH BANKS 2.750% 14-16/04/2019 EUR BANK OF IRELAND 2.000% 14-08/05/2017 EUR EIRCOM FINANCE 4.500% 16-31/05/2022 EUR ESB FINANCE LTD 4.375% 12-21/11/2019 EUR FCA CAPITAL IRE 1.250% 15-13/06/2018 EUR FCA CAPITAL IRE 1.250% 16-23/09/2020 EUR FCA CAPITAL IRE 1.375% 15-17/04/2020 EUR FCA CAPITAL IRE 4.000% 13-17/10/2018 EUR FGA CAPITAL IRE 2.000% 14-23/10/2019 EUR FGA CAPITAL IRE 2.625% 14-17/04/2019 EUR FGA CAPITAL IRE 2.875% 14-26/01/2018 EUR GE CAP EUR FUND 4.250% 10-01/03/2017 EUR GEN ELEC CAP CRP 1.625% 13-15/03/2018 EUR Sweden NORDEA BANK AB 1.375% 13-12/04/2018 EUR NORDEA BANK AB 4.000% 12-11/07/2019 EUR SKANDINAVISKA ENSKILDA 1.500% /09/2019 USD SKANDINAVISKA ENSKILDA BANK 2.000% /03/2019 EUR SKANDINAVISKA ENSKILDA BANK 3.875% /04/2017 EUR SKANDINAVISKA ENSKILDA BANK 4.000% /09/2022 EUR SKANDINAVISKA ENSKILDA BANK 4.250% /02/2018 EUR SVENSKA CELLULOS 0.500% 16-26/05/2021 EUR SVENSKA HANDELSBANKEN 2.250% /06/2018 EUR SVENSKA HANDELSBANKEN 3.375% /07/2017 EUR SVENSKA HANDELSBANKEN 3.750% /02/2017 EUR SWEDBANK AB 1.500% 14-18/03/2019 EUR VOLVO TREASURY 5.000% 07-31/05/2017 EUR Belgium ANHEUSER - BUSCH 0.625% 16-17/03/2020 EUR ANHEUSER - BUSCH 1.250% 12-24/03/2017 EUR BARRY CALLE SVCS 6.000% 07-13/07/2017 EUR BELFIUS BANK SA 1.125% 14-22/05/2017 EUR BNP PARIBAS FORTIS BANK 5.757% /10/2017 EUR FORTIS BANK SA/NV 4.375% 07-01/02/2017 EUR KBC GROEP NV 1.000% 16-26/04/2021 EUR Luxembourg ARCELORMITTAL 3.000% 14-25/03/2019 EUR BMBG BOND FINCE 3.000% 16-15/06/2021 EUR CNH IND FIN 2.750% 14-18/03/2019 EUR CNH IND FIN 6.250% 11-09/03/2018 EUR DH EUROPE FINANCE 1.000% 15-08/07/2019 EUR FIAT FIN & TRADE 6.625% 13-15/03/2018 EUR HEIDELBERGCEMENT 8.000% 09-31/01/2017 EUR HEIDELCEMENT FIN 8.500% 09-31/10/2019 EUR INEOS GROUP HOLD 5.375% 16-01/08/2024 EUR Page 92

95 Bond Euro Short Term Corporate Expressed in EUR INEOS GROUP HOLD 5.750% 14-15/02/2019 EUR PROLOGIS INTL II 2.750% 13-23/10/2018 EUR WIND ACQUISITION 4.000% 14-15/07/2020 EUR Denmark CARLSBERG BREW 3.375% 10-13/10/2017 EUR DANSKE BANK A/S 3.875% 12-28/02/2017 EUR ISS GLOBAL A/S 1.125% 14-09/01/2020 EUR JYSKE BANK A/S 0.625% 16-14/04/2021 EUR TELE DANMARK 4.375% 11-23/02/2018 EUR Norway DNB BANK 4.750% 12-08/03/2022 EUR SANTANDER CONSUMER 1.000% /02/2019 EUR SPAREBANK 1 SMN 1.500% 14-20/05/2019 EUR SPAREBANK 1 SR 0.375% 16-10/02/2022 EUR Mexico AMERICA MOVIL SA 1.000% 14-04/06/2018 EUR AMERICA MOVIL SA 3.750% 10-28/06/2017 EUR Canada TOTAL CAP CANADA 1.125% 14-18/03/2022 EUR TOTAL CAP CANADA 1.875% 13-09/07/2020 EUR Portugal BANCO SAN TOTTA 1.625% 14-11/06/2019 EUR REN REDES ENERGE 4.125% 13-31/01/2018 EUR Jersey Island UBS AG JERSEY 4.750% 07-07/06/2017 EUR Japan MERC-BENZ JAPAN 0.125% 16-22/11/2019 EUR Austria ERSTE GROUP 3.375% 12-28/03/2017 EUR TELEKOM FINANZ 3.125% 13-03/12/2021 EUR TELEKOM FINANZ 4.250% 05-27/01/2017 EUR UNICREDIT BK AUS 2.625% 13-30/01/2018 EUR Switzerland CREDIT SUISSE LD 3.875% 10-25/01/2017 EUR Finland SAMPO OYJ 1.125% 16-24/05/2019 EUR Poland SANTANDER CONSUMER 0.625% /04/2018 EUR Floating rate bonds The Netherlands ABN AMRO BANK NV 14-06/03/2019 FRN EUR ALLIANZ FINANCE 05-29/12/2049 SR EUR BMW FINANCE NV 16-15/07/2019 FRN EUR DEUTSCHE TEL FIN 16-03/04/2020 FRN EUR GENERALI FINANCE 07-29/12/2049 SR EUR IBERDROLA INTL 13-27/02/2049 FRN EUR ING BANK NV 08-29/05/2023 FRN EUR ING BANK NV 13-21/11/2023 FRN EUR ING BANK NV 14-25/02/2026 FRN EUR ING BANK NV 15-05/06/2017 FRN EUR ING VERZEKERING 02-07/05/2027 SR EUR KPN NV 13-29/03/2049 FRN EUR RABOBANK 16-15/01/2018 FRN EUR TELEFONICA EUROP 13-29/09/2049 FRN EUR VOLKSWAGEN INTFN 13-29/09/2049 FRN EUR VONOVIA BV 15-15/12/2017 FRN EUR France AIR LIQUIDE FIN 16-13/06/2018 FRN EUR ARKEMA 14-29/10/2049 FRN EUR AXA SA 07-29/10/2049 FRN EUR BANQUE FED CREDIT MUTUEL /03/2019 FRN EUR BNP PARIBAS 07-29/04/2049 FRN EUR BNP PARIBAS 14-20/03/2026 FRN EUR BNP PARIBAS 15-15/01/2020 FRN EUR CAP GEMINI SA 15-02/07/2018 FRN EUR CARREFOUR BANQUE 15-20/03/2020 FRN EUR CARREFOUR BANQUE 15-21/10/2019 FRN EUR CARREFOUR BANQUE 16-20/04/2021 FRN EUR CREDIT AGRICOLE SA 08-29/03/2049 FRN EUR DANONE 16-03/11/2018 FRN EUR ELEC DE FRANCE 13-PERP FRN EUR ENGIE 13-29/07/2049 FRN EUR ENGIE OPEN 14-02/06/2049 FRN EUR LAFARGE SA 10-29/11/2018 FRN EUR NATIXIS 07-29/10/2049 FRN EUR RCI BANQUE 16-18/03/2019 FRN EUR SOCIETE GENERALE 07-29/12/2049 FRN EUR SOCIETE GENERALE 09-29/09/2049 FRN EUR SOCIETE GENERALE 16-19/02/2018 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR VEOLIA ENVIRONNEMENT /01/2049 FRN EUR United States of America BANK OF AMERICA CORP 06-28/03/ SR FRN EUR BANK OF AMERICA CORP /05/2017 FRN EUR BANK OF AMERICA CORP /06/2019 FRN EUR BANK OF AMERICA CORP /07/2019 FRN EUR CITIGROUP INC 16-24/05/2021 FRN EUR FEDEX CORP 16-11/04/2019 FRN EUR GOLDMAN SACHS GP 16-27/07/2021 FRN EUR GOLDMAN SACHS GP 16-29/04/2019 FRN EUR HONEYWELL INTERNATIONAL /02/2018 FRN EUR JP MORGAN CHASE 16-14/06/2018 FRN EUR UNITED TECHNOLOGIES CORP /02/2018 FRN EUR WELLS FARGO & CO 15-02/06/2020 FRN EUR WELLS FARGO & CO 16-26/04/2021 FRN EUR United Kingdom ABBEY NATIONAL TREASURY /05/2019 FRN EUR AVIVA PLC 08-22/05/2038 FRN EUR BARCLAYS BANK PLC 05-29/03/2049 SR EUR BARCLAYS BANK PLC 08-29/11/2049 FRN GBP COCA-COLA EURO 16-26/11/2017 FRN EUR FCE BANK PLC 16-11/08/2018 FRN EUR HSBC HOLDINGS PLC 13-10/01/2024 FRN EUR LLOYDS BANK PLC 14-10/09/2019 FRN EUR LLOYDS BANK PLC 15-09/10/2018 FRN EUR ROYAL BANK SCOTLAND 12-16/03/2022 FRN EUR ROYAL BANK SCOTLAND 14-25/03/2024 FRN EUR SSE PLC 12-PERP FRN EUR VODAFONE GROUP 16-25/02/2019 FRN EUR Page 93

96 Bond Euro Short Term Corporate Expressed in EUR Sweden NORDEA BANK AB 12-15/02/2022 FRN EUR NORDEA BANK AB 15-05/06/2020 FRN EUR NORDEA BANK AB 16-22/02/2019 FRN EUR SKANDINAVISKA ENSKILDA BANK /12/2049 FRN EUR SKANDINAVISKA ENSKILDA BANK /05/2020 FRN EUR SVENSKA HANDELSBANKEN /01/2024 FRN EUR SWEDBANK AB 12-05/12/2022 FRN EUR SWEDBANK AB 14-26/02/2024 FRN EUR Germany COVESTRO 16-10/03/2018 FRN EUR DAIMLER AG 16-09/03/2018 FRN EUR DAIMLER AG 16-12/01/2019 FRN EUR DEUTSCHE BANK AG 16-13/04/2018 FRN EUR ENERGIE BADEN-WU 16-05/04/2077 FRN EUR MUENCHENER RUECKVERSICHERUNG /06/2049 FRN EUR Belgium ANHEUSER - BUSCH 16-17/03/2020 FRN EUR KBC GROEP NV 14-25/11/2024 FRN EUR SOLVAY SA 15-01/12/2017 FRN EUR Italy ENEL SPA 13-10/01/2074 FRN EUR ENEL SPA 14-15/01/2075 FRN EUR INTESA SANPAOLO 14-17/04/2019 FRN EUR UNICREDIT SPA 14-10/04/2017 FRN EUR UNICREDIT SPA 15-19/02/2020 FRN EUR Ireland CLOVERIE PLC 09-24/07/2039 FRN EUR FCA CAPITAL IRE 15-17/10/2017 FRN EUR Spain BBVA SUB CAP UNI 14-11/04/2024 FRN EUR CAIXABANK 13-14/11/2023 FRN EUR MAPFRE SA 07-24/07/2037 FRN EUR Denmark DANSKE BANK A/S 07-29/05/2049 SR EUR DANSKE BANK A/S 13-04/10/2023 FRN EUR DONG A/S 13-08/07/3013 FRN EUR Norway DNB BANK ASA 13-26/09/2023 FRN EUR Canada ROYAL BANK OF CANADA 15-06/08/2020 FRN EUR Jersey Island UBS CAPITAL 07-29/12/2049 FRN EUR Mexico AMERICA MOVIL SA 13-06/09/2073 FRN EUR Austria TELEKOM AUSTRIA 13-29/12/2049 FRN EUR Total securities portfolio Page 94

97 Bond Europe Emerging Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Turkey AKBANK 4.000% 15-24/01/2020 USD GARANTI BANKASI 4.750% 14-17/10/2019 USD REP OF TURKEY 7.500% 09-07/11/2019 USD TURKEY GOVT BOND % 10-15/01/2020 TRY TURKEY GOVT BOND % 16-11/02/2026 TRY TURKEY GOVT BOND 8.000% 15-12/03/2025 TRY YASAR HOLDINGS 8.875% 14-06/05/2020 USD Poland POLAND GOVT BOND 1.500% 15-25/04/2020 PLN POLAND GOVT BOND 1.750% 16-25/07/2021 PLN POLAND GOVT BOND 3.250% 14-25/07/2025 PLN REP OF POLAND 0.500% 16-20/12/2021 EUR REP OF POLAND 3.250% 16-06/04/2026 USD REP OF POLAND 4.000% 14-22/01/2024 USD Romania ROMANIA 4.750% 14-24/02/2025 RON ROMANIA 5.800% 12-26/07/2027 RON ROMANIA 6.125% 14-22/01/2044 USD ROMANIA 6.750% 12-07/02/2022 USD Hungary HUNGARY GOVT 3.000% 15-26/06/2024 HUF HUNGARY GOVT 7.000% 11-24/06/2022 HUF REP OF HUNGARY 7.625% 11-29/03/2041 USD Ireland RZD CAPITAL PLC 9.200% 16-07/10/2023 RUB Latvia REP OF LATVIA 5.250% 11-16/06/2021 USD Croatia CROATIA 3.875% 14-30/05/2022 EUR Egypt ARAB REP EGYPT 5.875% 15-11/06/2025 USD EGYPT 5.750% 10-29/04/2020 USD Russia RUSSIA-OFZ 7.050% 13-19/01/2028 RUB Luxembourg SBERBANK 5.125% 12-29/10/2022 USD Bulgaria BGARIA-FLIRB-REG 2.950% 14-03/09/2024 EUR Lithuania LITHUANIA 6.625% 12-01/02/2022 USD Macedonia MACEDONIA-C BOND 5.625% 16-26/07/2023 EUR Georgia BGEO GROUP JSC 6.000% 16-26/07/2023 USD JSC GEORGIAN RAILWAY 7.750% 12-11/07/2022 USD Kazakhstan ZHAIKMUNAI LLP 7.125% 12-13/11/2019 USD The Netherlands PETROBRAS 8.750% 16-23/05/2026 USD Ukraine UKRAINE GOVT 7.750% 15-01/09/2027 USD Floating rate bonds Ireland INTL BANK OF AZERB 07-10/05/2017 FRN USD Total securities portfolio Page 95

98 Bond JPY Expressed in JPY Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Japan JAPAN GOVT 10-YR 0.100% 16-20/09/2026 JPY JAPAN GOVT 10-YR 0.100% 16-20/12/2026 JPY JAPAN GOVT 10-YR 0.500% 14-20/09/2024 JPY JAPAN GOVT 20-YR 0.500% 16-20/09/2036 JPY JAPAN GOVT 20-YR 1.200% 15-20/03/2035 JPY JAPAN GOVT 20-YR 1.600% 13-20/03/2033 JPY JAPAN GOVT 20-YR 1.800% 11-20/09/2031 JPY JAPAN GOVT 20-YR 2.100% 10-20/03/2030 JPY JAPAN GOVT 2-YR 0.100% 15-15/07/2017 JPY JAPAN GOVT 2-YR 0.100% 15-15/08/2017 JPY JAPAN GOVT 30-YR 0.600% 16-20/12/2046 JPY JAPAN GOVT 30-YR 1.600% 15-20/06/2045 JPY JAPAN GOVT 30-YR 2.000% 12-20/03/2042 JPY JAPAN GOVT 5-YR 0.100% 15-20/09/2020 JPY JAPAN GOVT 5-YR 0.100% 15-20/12/2020 JPY JAPAN I/L-10YR 0.100% 14-10/03/2024 JPY Total securities portfolio Page 96

99 Bond RMB Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds China AGRICUL DEV BANK 2.600% 16-22/04/2017 CNY CHINA DEV BANK 3.180% 16-05/04/2026 CNY CHINA EASTERN 2.810% 16-27/04/2017 CNY CHINA GOVT BOND 2.740% 16-04/08/2026 CNY CHINA GUODIAN 4.630% 15-03/02/2020 CNY EXP-IMP BK CHINA 3.180% 16-05/09/2026 CNY JUHUA GROUP 3.450% 16-17/08/2019 CNY LIANYUN DEVELOP 6.100% 12-19/06/2019 CNY NJ JIANGNING PAR 7.290% 12-28/04/2019 CNY YANAN CITY INST 7.050% 12-08/02/2017 CNY YC CHENGNAN DEVL 6.930% 12-26/10/2019 CNY Hong Kong IOWA CH OFFSHORE 3.580% 16-13/07/2021 CNY Floating rate bonds China JS WUJIN ECO 11-24/02/2018 FRN CNY NONGERSHI LUYUAN 14-16/07/2021 FRN CNY SHENZHEN OVERSEA 16-13/04/2021 FRN CNY XJ WEST CON 12-15/03/2017 FRN CNY Total securities portfolio Page 97

100 Bond USA High Yield Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ACI WORLDWIDE 6.375% 13-15/08/2020 USD ADIENT GLOBAL HO 4.875% 16-15/08/2026 USD AES CORPORATION 5.500% 14-15/03/2024 USD ALCOA INC 5.125% 14-01/10/2024 USD AMC ENTERTAINMNT 5.875% 14-15/02/2022 USD AMER AXLE & MFG 6.250% 13-15/03/2021 USD AMER AXLE & MFG 6.625% 12-15/10/2022 USD AMER AXLE & MFG 7.750% 11-15/11/2019 USD AMERIGAS FINANCE 7.000% 12-20/05/2022 USD AMERIGAS PARTNER 5.625% 16-20/05/2024 USD AMERIGAS PARTNER 5.875% 16-20/08/2026 USD AMKOR TECHNOLOGY INC 6.625% /06/2021 USD AMSURG CORP 5.625% 15-15/07/2022 USD ANTERO MIDSTREAM 5.375% 16-15/09/2024 USD ANTERO RESOURCES 5.125% 15-01/12/2022 USD ANTERO RESOURCES 6.000% 13-01/12/2020 USD ARGOS MERGER SUB 7.125% 15-15/03/2023 USD AVIS BUDGET CAR 5.125% 14-01/06/2022 USD BOYD GAMING CORP 6.875% 15-15/05/2023 USD CABLEVISION SYS 5.875% 12-15/09/2022 USD CABLEVISION SYS 8.000% 10-15/04/2020 USD CALPINE CORP 5.375% 14-15/01/2023 USD CALPINE CORP 5.750% 14-15/01/2025 USD CALPINE CORP 5.875% 13-15/01/2024 USD CARRIZO OIL & GAS 6.250% 15-15/04/2023 USD CCO HOLDINGS LLC 5.750% 13-15/01/2024 USD CCO HOLDINGS LLC 5.875% 15-01/05/2027 USD CCO HOLDINGS LLC 5.875% 16-01/04/2024 USD CEDAR FAIR LP/CA 5.375% 15-01/06/2024 USD CENTENE CORP 5.625% 16-15/02/2021 USD CENTENE CORP 6.125% 16-15/02/2024 USD CENTURYLINK INC 6.450% 11-15/06/2021 USD CENTURYLINK INC 6.750% 13-01/12/2023 USD CENTURYLINK INC 7.500% 16-01/04/2024 USD CHEMOURS CO 6.625% 16-15/05/2023 USD CHENIERE CORP CH 7.000% 16-30/06/2024 USD CHESAPEAKE ENRGY 8.000% 15-15/12/2022 USD CHS/COMMUNITY 5.125% 14-01/08/2021 USD CHS/COMMUNITY 6.875% 14-01/02/2022 USD CHS/COMMUNITY 8.000% 12-15/11/2019 USD CLEAR CHNL WORLD 6.500% 13-15/11/2022 USD CLEAR CHNL WORLD 7.625% 12-15/03/2020 USD COMMSCOPE TECH F 6.000% 15-15/06/2025 USD CONCHO RES/MIDLA 5.500% 12-01/04/2023 USD CONCHO RES/MIDLA 5.500% 12-01/10/2022 USD CONSOL ENERGY 5.875% 15-15/04/2022 USD CONTINENTAL RES 4.500% 13-15/04/2023 USD CONTINENTAL RES 4.900% 14-01/06/2044 USD CONTINENTAL RES 5.000% 12-15/09/2022 USD COTT BEVERAGES 5.375% 15-01/07/2022 USD COVANTA HOLDING 5.875% 14-01/03/2024 USD COVANTA HOLDING 6.375% 12-01/10/2022 USD CRSTWD PART/FIN 6.125% 14-01/03/2022 USD CSC HOLDINGS LLC 5.500% 16-15/04/2027 USD CSC HOLDINGS LLC 6.750% 11-15/11/2021 USD CVR REF/COFF FIN 6.500% 13-01/11/2022 USD CYRUSONE LP/CYRU 6.375% 13-15/11/2022 USD DANA HOLDING 5.375% 13-15/09/2021 USD DANA HOLDING 6.000% 13-15/09/2023 USD DAVITA HEALTHCARE 5.125% 14-15/07/2024 USD DAVITA INC 5.750% 12-15/08/2022 USD DEAN FOODS CO 6.500% 15-15/03/2023 USD DIAMOND 1 FIN/DI 7.125% 16-15/06/2024 USD DIAMONDBACK ENER 4.750% 16-01/11/2024 USD DISH DBS CORP 5.875% 12-15/07/2022 USD DISH DBS CORP 6.750% 11-01/06/2021 USD DISH DBS CORP 7.750% 16-01/07/2026 USD DOLLAR TREE 5.750% 16-01/03/2023 USD DONNELLEY & SONS 7.875% 13-15/03/2021 USD DPL INC 7.250% 12-15/10/2021 USD DYNEGY INC 7.375% 15-01/11/2022 USD ENDO FINANCE LLC 6.000% 15-15/07/2023 USD ENDO FINANCE LLC 7.750% 14-15/01/2022 USD ENERGIZER SPINCO 5.500% 15-15/06/2025 USD ENERGY TRANSFER 5.875% 13-15/01/2024 USD ENERGY TRANSFER 7.500% 10-15/10/2020 USD ENLINK MIDSTREAM 4.400% 14-01/04/2024 USD EQUINIX INC 5.375% 14-01/01/2022 USD EQUINIX INC 5.750% 14-01/01/2025 USD FIRST DATA CORP 5.000% 15-15/01/2024 USD FIRST DATA CORP 5.375% 15-15/08/2023 USD FIRST DATA CORP 7.000% 15-01/12/2023 USD FRESENIUS MEDICAL 4.750% 14-15/10/2024 USD FRONTIER COMM % 16-15/09/2022 USD FRONTIER COMM % 16-15/09/2025 USD FRONTIER COMM 6.875% 14-15/01/2025 USD FRONTIER COMM 8.500% 10-15/04/2020 USD FRONTIER COMM 8.750% 10-15/04/2022 USD GAMESTOP CORP 5.500% 14-01/10/2019 USD GANNETT CO 6.375% 13-15/10/2023 USD GENESIS ENERGY 6.750% 15-01/08/2022 USD GOODYEAR TIRE 5.125% 15-15/11/2023 USD GRAY TELE INC 5.125% 16-15/10/2024 USD GREEKTOWN HLDGS 8.875% 14-15/03/2019 USD GULFPORT ENERGY 6.000% 16-15/10/2024 USD HCA HOLDINGS INC 6.250% 12-15/02/2021 USD HCA INC 4.500% 16-15/02/2027 USD HCA INC 5.000% 14-15/03/2024 USD HCA INC 5.250% 14-15/04/2025 USD HCA INC 5.375% 15-01/02/2025 USD HCA INC 7.500% 11-15/02/2022 USD HDTFS INC 6.250% 13-15/10/2022 USD HEALTHSOUTH CORP 5.125% 15-15/03/2023 USD HERC RENTALS INC 7.500% 16-01/06/2022 USD INCPTN/RCKSPCE 8.625% 16-15/11/2024 USD IRON MOUNTAIN 5.750% 12-15/08/2024 USD KB HOME 4.750% 14-15/05/2019 USD KB HOME 7.500% 12-15/09/2022 USD KINDRED HEALTHCARE 8.000% /01/2020 USD KLX INC 5.875% 14-01/12/2022 USD L BRANDS INC 6.750% 16-01/07/2036 USD LAMAR MEDIA CORP 5.375% 14-15/01/2024 USD LEAR CORP 5.375% 14-15/03/2024 USD LEE ENTERPRISES 9.500% 14-15/03/2022 USD LEVEL 3 COMMUNICATIONS INC 5.750% /12/2022 USD LEVEL 3 FIN INC 5.250% 16-15/03/2026 USD LEVI STRAUSS 5.000% 15-01/05/2025 USD Page 98

101 Bond USA High Yield Expressed in USD LIFEPOINT HOSPIT 5.500% 14-01/12/2021 USD LIMITED BRANDS 5.625% 12-15/02/2022 USD LIN TELEVISION 5.875% 15-15/11/2022 USD MEDIACOM BROADBAND 6.375% /04/2023 USD MERITOR INC 6.750% 13-15/06/2021 USD MGM RESORTS 6.625% 12-15/12/2021 USD MGP ESCROW LLC/I 5.625% 16-01/05/2024 USD MICRON TECH 5.500% 14-01/02/2025 USD MICRON TECH 5.875% 15-15/02/2022 USD MICRON TECH 7.500% 16-15/09/2023 USD MPT OP PTNR/FINL 5.250% 16-01/08/2026 USD MURPHY OIL CORP 4.700% 12-01/12/2022 USD MURPHY OIL CORP 6.875% 16-15/08/2024 USD NABORS INDS INC 4.625% 12-15/09/2021 USD NABORS INDS INC 5.000% 11-15/09/2020 USD NBTY INC 7.625% 16-15/05/2021 USD NCR CORP 5.875% 14-15/12/2021 USD NCR CORP 6.375% 14-15/12/2023 USD NEPTUNE FINCO % 15-15/01/2023 USD NEPTUNE FINCO % 15-15/10/2025 USD NETFLIX INC 5.875% 15-15/02/2025 USD NEWFIELD EXPLOR 5.625% 12-01/07/2024 USD NEXSTAR BROADCASTING 6.125% /02/2022 USD NEXSTAR ESCROW 5.625% 16-01/08/2024 USD NIELSEN FINANCE 5.000% 14-15/04/2022 USD NOVELIS CORP 5.875% 16-30/09/2026 USD NOVELIS CORP 6.250% 16-15/08/2024 USD NRG ENERGY INC 6.250% 14-15/07/2022 USD NRG ENERGY INC 6.625% 13-15/03/2023 USD NRG ENERGY INC 7.250% 16-15/05/2026 USD NRG ENERGY INC 7.625% 11-15/01/2018 USD OASIS PETROLEUM 6.500% 11-01/11/2021 USD ONEOK INC 4.250% 12-01/02/2022 USD OUTFRONT MEDIA C 5.250% 15-15/02/2022 USD OUTFRONT MEDIA C 5.875% 15-15/03/2025 USD PENN NATL GAMING 5.875% 14-01/11/2021 USD POST HOLDINGS IN 5.000% 16-15/08/2026 USD PRIME SEC/FIN 9.250% 16-15/05/2023 USD RANGE RESOURCES 5.875% 16-01/07/2022 USD REGAL ENTERTAINMENT 5.750% /03/2022 USD REYNOLDS GROUP 5.750% 13-15/10/2020 USD ROWAN COS INC 7.375% 16-15/06/2025 USD RR DONNELLEY 6.000% 14-01/04/2024 USD SABINE PASS LIQU 5.750% 14-15/05/2024 USD SABINE PASS LIQU 6.250% 14-15/03/2022 USD SANMINA CORP 4.375% 14-01/06/2019 USD SBA COMMUNICATIONS 4.875% /07/2022 USD SCIENTIFIC GAMES % 15-01/12/2022 USD SCIENTIFIC GAMES 7.000% 14-01/01/2022 USD SERVICE CORP 4.500% 12-15/11/2020 USD SERVICE CORP 5.375% 14-15/05/2024 USD SINCLAIR TELE 5.625% 14-01/08/2024 USD SIRIUS XM RADIO 5.375% 16-15/07/2026 USD SIRIUS XM RADIO 6.000% 14-15/07/2024 USD SM ENERGY CO 5.625% 15-01/06/2025 USD SM ENERGY CO 6.750% 16-15/09/2026 USD SOLERA LLC / FIN % 16-01/03/2024 USD SOUTHERN STAR 5.125% 14-15/07/2022 USD SOUTHWESTERN ENERGY 4.050% /01/2020 USD SPEEDWAY MOTORSP 5.125% /02/2023 USD SPRINT CAP CORP 6.875% 98-15/11/2028 USD SPRINT CAP CORP 8.750% 02-15/03/2032 USD SPRINT CORP 7.250% 14-15/09/2021 USD SPRINT CORP 7.875% 14-15/09/2023 USD SPRINT NEXTEL % 12-15/11/2021 USD SPRINT NEXTEL 9.000% 11-15/11/2018 USD STEEL DYNAMICS 5.250% 13-15/04/2023 USD SUMMIT MID HLD / 5.500% 14-15/08/2022 USD SUNOCO LP/FIN 6.250% 16-15/04/2021 USD TARGA RES PRTNRS 5.125% 16-01/02/2025 USD TARGA RES PRTNRS 6.375% 12-01/08/2022 USD TARGA RES PRTNRS 6.750% 15-15/03/2024 USD TAYLOR MORRISON 5.250% 13-15/04/2021 USD TENET HEALTHCARE 6.000% 13-01/10/2020 USD TES LOG LP/CORP 6.125% 13-15/10/2021 USD TIME INC 5.750% 14-15/04/2022 USD T-MOBILE USA INC 6.000% 16-15/04/2024 USD T-MOBILE USA INC 6.375% 14-01/03/2025 USD T-MOBILE USA INC 6.500% 13-15/01/2024 USD T-MOBILE USA INC 6.625% 14-01/04/2023 USD TOLL BR FIN CORP 4.875% 15-15/11/2025 USD TREEHOUSE FOODS 4.875% 14-15/03/2022 USD UNITED RENTAL NA 4.625% 15-15/07/2023 USD UNITED RENTAL NA 5.500% 15-15/07/2025 USD UNIVISION COMM 5.125% 15-15/02/2025 USD UNIVISION COMM 6.750% 12-15/09/2022 USD US CONCRETE 6.375% 16-01/06/2024 USD VALEANT PHARMA 5.625% 13-01/12/2021 USD WEST CORP 5.375% 14-15/07/2022 USD WESTERN DIGITAL % 16-01/04/2024 USD WHITING PETROLEUM 5.750% 13-15/03/2021 USD WILLIAMS COS INC 4.550% 14-24/06/2024 USD WILLIAMS COS INC 5.750% 14-24/06/2044 USD WINDSTREAM CORP 7.750% 11-01/10/2021 USD WPX ENERGY INC 6.000% 12-15/01/2022 USD WYNN LAS VEGAS 5.500% 15-01/03/2025 USD XPO LOGISTICS 6.500% 15-15/06/2022 USD Luxembourg ALTICE 7.625% 15-15/02/2025 USD ALTICE 7.750% 14-15/05/2022 USD ALTICE FINANCING 6.500% 13-15/01/2022 USD ALTICE FINANCING 6.625% 15-15/02/2023 USD ALTICE FINANCING 7.500% 16-15/05/2026 USD ALTICE FINCO SA 8.125% 13-15/01/2024 USD ARCELORMITTAL 6.750% 12-25/02/2022 USD ARCELORMITTAL 7.750% 09-15/10/2039 USD INEOS GROUP HOLD 5.875% 14-15/02/2019 USD MALLINCKRODT FIN 5.750% 14-01/08/2022 USD MILLICOM INTL 6.625% 13-15/10/2021 USD WIND ACQUISITION 7.375% 14-23/04/2021 USD Canada BC ULC / 6.000% 14-01/04/2022 USD BOMBARDIER INC 6.000% 14-15/10/2022 USD BOMBARDIER INC 7.500% 15-15/03/2025 USD BOMBARDIER INC 7.750% 10-15/03/2020 USD BOMBARDIER INC 8.750% 16-01/12/2021 USD CASCADES INC 5.500% 14-15/07/2022 USD CENOVUS ENERGY 5.700% 10-15/10/2019 USD CENOVUS ENERGY 6.750% 10-15/11/2039 USD Page 99

102 Bond USA High Yield Expressed in USD FIRST QUANTUM 6.750% 14-15/02/2020 USD LUNDIN MINING CORP 7.500% 14-01/11/2020 USD MEG ENERGY CORP 6.500% 11-15/03/2021 USD TECK RESOURCES 4.500% 10-15/01/2021 USD TECK RESOURCES 6.000% 10-15/08/2040 USD TECK RESOURCES 6.250% 11-15/07/2041 USD TECK RESOURCES 8.000% 16-01/06/2021 USD United Kingdom ANGLO AMERICAN 4.875% 15-14/05/2025 USD ANGLO AMERICAN 9.375% 09-08/04/2019 USD ENSCO PLC 5.200% 15-15/03/2025 USD ENSCO PLC 5.750% 14-01/10/2044 USD FIAT CHRYSLER AU 4.500% 15-15/04/2020 USD FIAT CHRYSLER AU 5.250% 15-15/04/2023 USD IHS MARKIT LTD 5.000% 16-01/11/2022 USD INTL GAME TECH 6.250% 15-15/02/2022 USD SENSATA TECH UK 6.250% 15-15/02/2026 USD VIRGIN MEDIA SEC 5.500% 14-15/01/2025 USD France NUMERICABLE 6.000% 14-15/05/2022 USD NUMERICABLE 6.250% 14-15/05/2024 USD NUMERICABLE-SFR 7.375% 16-01/05/2026 USD Cayman Islands NOBLE HLDG INTL 4.625% 11-01/03/2021 USD NOBLE HLDG INTL 6.050% 11-01/03/2041 USD NOBLE HLDG INTL 6.950% 15-01/04/2025 USD TRANSOCEAN INC 6.800% 07-15/03/2038 USD TRANSOCEAN INC 7.125% 11-15/12/2021 USD TRANSOCEAN INC 9.000% 16-15/07/2023 USD Australia FMG RES AUG % 12-01/04/2022 USD FMG RES AUG % 15-01/03/2022 USD Italy TELECOM ITALIA 5.303% 14-30/05/2024 USD The Netherlands SENSATA TECH BV 4.875% 13-15/10/2023 USD VIMPELCOM HLDGS 7.504% 11-01/03/2022 USD Bermuda WEATHERFORD BERM 7.750% /06/2021 USD WEATHERFORD BERM 8.250% /06/2023 USD Floating rate bonds United States of America GIBRALTAR INDSTR 13-01/02/2021 FRN USD LENNAR CORP 13-15/11/2022 FRN USD Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH USD - I - CAP USD PARVEST BOND WORLD HIGH YIELD SHORT DURATION - X - CAP USD Total securities portfolio Page 100

103 Bond USD Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ACTIVISION BLIZZ 2.300% 16-15/09/2021 USD AFLAC INC 3.625% 14-15/11/2024 USD AIR LEASE CORP 2.625% 15-04/09/2018 USD AIR LEASE CORP 3.875% 14-01/04/2021 USD ALABAMA POWER CO 2.800% 15-01/04/2025 USD ALEXANDRIA REAL 4.600% 12-01/04/2022 USD ALLY FINANCIAL 4.250% 16-15/04/2021 USD AMER INTL GROUP 3.900% 16-01/04/2026 USD AMERICAN TOWER 3.375% 16-15/10/2026 USD AMERICAN TOWER 3.500% 13-31/01/2023 USD AMERICAN TOWER 4.000% 15-01/06/2025 USD AMGEN INC 4.400% 15-01/05/2045 USD ANADARKO PETROLEUM 5.550% /03/2026 USD ANHEUSER - BUSCH 2.650% 16-01/02/2021 USD ANHEUSER - BUSCH 4.900% 16-01/02/2046 USD APACHE CORP 2.625% 12-15/01/2023 USD AT&T INC 4.125% 16-17/02/2026 USD AUTONATION INC 3.350% 15-15/01/2021 USD AUTONATION INC 6.750% 10-15/04/2018 USD BANK OF AMERICA CORP 2.600% /01/2019 USD BANK OF AMERICA CORP 2.625% /10/2020 USD BANK OF AMERICA CORP 3.248% /10/2027 USD BANK OF AMERICA CORP 3.500% /04/2026 USD BANK OF AMERICA CORP 3.875% /08/2025 USD BANK OF AMERICA CORP 4.000% /01/2025 USD BANK OF AMERICA CORP 5.420% /03/2017 USD BANK OF AMERICA CORP 5.625% /07/2020 USD BANK ONE CORP 7.750% 95-15/07/2025 USD BORG-WARNER AUTO 3.375% 15-15/03/2025 USD BORG-WARNER AUTO 4.375% 15-15/03/2045 USD BUNGE LTD FIN CP 3.250% 16-15/08/2026 USD BURLINGTON NORTH 4.450% 13-15/03/2043 USD CAPITAL ONE FINL 3.750% 16-28/07/2026 USD CAPITAL ONE FINL 4.200% 15-29/10/2025 USD CARGILL INC 4.760% 15-23/11/2045 USD CARGILL INC 7.350% 09-06/03/2019 USD CARNIVAL CORP 3.950% 13-15/10/2020 USD CBS CORP 4.900% 14-15/08/2044 USD CELGENE CORP 3.875% 15-15/08/2025 USD CF INDUSTRIES IN 3.400% 16-01/12/2021 USD CGCMT 2014-GC25 B 4.345% 14-10/10/2047 USD CIMAREX ENERGY 4.375% 14-01/06/2024 USD CISCO SYSTEMS 2.950% 16-28/02/2026 USD CISCO SYSTEMS 5.900% 09-15/02/2039 USD CITIGROUP INC 2.550% 14-08/04/2019 USD CITIGROUP INC 4.050% 13-30/07/2022 USD CITIGROUP INC 4.600% 16-09/03/2026 USD COMCAST CORP 4.400% 15-15/08/2035 USD COMCAST CORP 6.950% 07-15/08/2037 USD CONOCOPHILLIPS CO 2.400% 12-15/12/2022 USD CONOCOPHILLIPS CO 4.950% 16-15/03/2026 USD CONSTELLATION BR 3.700% 16-06/12/2026 USD CROWN CASTLE INTL 3.400% 16-15/02/2021 USD CSX CORP 3.350% 15-01/11/2025 USD CSX CORP 6.150% 07-01/05/2037 USD CVS HEALTH CORP 3.500% 15-20/07/2022 USD DIAMOND 1 FIN/DI 4.420% 16-15/06/2021 USD DISCOVER BANK 4.200% 13-08/08/2023 USD DISCOVER BANK 7.000% 10-15/04/2020 USD DOMINION RESOURCES 5.250% /08/2033 USD DOW CHEMICAL CO 4.375% 12-15/11/2042 USD DUKE ENERGY CORP 6.450% 02-15/10/2032 USD ECOLAB INC 4.350% 11-08/12/2021 USD EMERA US FINANCE 3.550% 16-15/06/2026 USD ENBRIDGE ENERGY 4.375% 15-15/10/2020 USD ENERGY TRAN PTNR 6.700% 08-01/07/2018 USD ENTERPRISE OP LLC 6.500% 08-31/01/2019 USD ENTERPRISE PRODU 4.450% 12-15/02/2043 USD FCAT C 6.220% 16-15/06/2022 USD FEDEX CORP 4.900% 14-15/01/2034 USD FG G % 16-01/05/2046 USD FG G % 16-01/01/2032 USD FG Q % 16-01/04/2046 USD FHR 4596 DI 3.500% 16-15/06/2046 USD FHS 303 C % 13-15/01/2043 USD FHS 303 C % 13-15/01/2043 USD FHS 324 C % 14-15/08/2033 USD FHS 324 C % 14-15/12/2033 USD FIVE COR FND TRS 4.419% 13-15/11/2023 USD FN AL % 16-01/03/2040 USD FN AL % 16-01/09/2041 USD FN AL % 16-01/10/2046 USD FN AS % 16-01/05/2046 USD FN AS % 16-01/05/2046 USD FN AY % 15-01/11/2045 USD FN AZ % 15-01/09/2045 USD FN BA % 16-01/04/2046 USD FN BC % 16-01/03/2046 USD FN BC % 16-01/06/2046 USD FN BC % 16-01/06/2046 USD FNR DB 6.000% 02-25/01/2033 USD FORD MOTOR CRED 3.157% 15-04/08/2020 USD FORD MOTOR CRED 3.664% 14-08/09/2024 USD FORD MOTOR CRED 5.000% 11-15/05/2018 USD FORTIVE CORP 3.150% 16-15/06/2026 USD G % 98-20/10/2028 USD G % 99-20/06/2029 USD G2 MA % 16-20/09/2046 USD G2 MA % 16-20/09/2046 USD G2 MA % 16-20/10/2046 USD G2 MA % 16-20/12/2046 USD GEN ELECTRIC CO 4.500% 14-11/03/2044 USD GEN MOTORS FIN 3.200% 15-13/07/2020 USD GEN MOTORS FIN 4.000% 15-15/01/2025 USD GEN MOTORS FIN 4.375% 14-25/09/2021 USD GENERAL MOTORS CO 3.500% /10/2018 USD GENERAL MOTORS CO 5.200% /04/2045 USD GEORGIA POWER 4.300% 12-15/03/2042 USD GNR KI 3.500% 16-20/11/2046 USD GNR IG 3.500% 16-20/08/2046 USD GOLDMAN SACHS GP 2.350% 16-15/11/2021 USD GOLDMAN SACHS GP 2.625% 14-31/01/2019 USD GOLDMAN SACHS GP 2.875% 16-25/02/2021 USD Page 101

104 Bond USD Expressed in USD GOLDMAN SACHS GP 2.900% 13-19/07/2018 USD GOLDMAN SACHS GP 3.750% 16-25/02/2026 USD GOLDMAN SACHS GP 4.000% 14-03/03/2024 USD GOLDMAN SACHS GP 4.250% 15-21/10/2025 USD GOLDMAN SACHS GP 4.800% 14-08/07/2044 USD GOLDMAN SACHS GP 5.950% 06-15/01/2027 USD HEWLETT - PACKARD CO 3.750% /12/2020 USD HOME DEPOT INC 2.000% 16-01/04/2021 USD HP ENTERPRISE 3.600% 15-15/10/2020 USD HUNTINGTON BANCS 3.150% 16-14/03/2021 USD INGREDION INC 3.200% 16-01/10/2026 USD INTL LEASE FIN 7.125% 10-01/09/2018 USD INTL PAPER CO 3.000% 16-15/02/2027 USD JP MORGAN CHASE 1.700% 15-01/03/2018 USD JP MORGAN CHASE 2.250% 15-23/01/2020 USD JP MORGAN CHASE 4.250% 15-01/10/2027 USD JP MORGAN CHASE 6.400% 08-15/05/2038 USD KEMPER 4.350% 15-15/02/2025 USD KEYSIGHT TECHNOL 4.550% 15-30/10/2024 USD KILROY REALTY LP 4.250% 14-15/08/2029 USD KIMBERLY-CLARK 6.625% 07-01/08/2037 USD KIMCO REALTY 3.200% 14-01/05/2021 USD KINDER MORGAN 4.300% 14-01/06/2025 USD KINDER MORGAN 5.300% 14-01/12/2034 USD KRAFT HEINZ FOOD 4.375% 16-01/06/2046 USD LENNOX INTERNATIONAL INC 3.000% /11/2023 USD LIBERTY MUTUAL 4.250% 13-15/06/2023 USD MAGELLAN MID 4.200% 15-15/03/2045 USD MARATHON OIL CORP 3.850% 15-01/06/2025 USD MARRIOTT INTL 3.125% 16-15/06/2026 USD MICROSOFT CORP 3.125% 15-03/11/2025 USD MIDAMERICAN ENER HOLDING 6.125% /04/2036 USD MORGAN STANLEY 2.500% 16-21/04/2021 USD MORGAN STANLEY 3.700% 14-23/10/2024 USD MORGAN STANLEY 4.350% 14-08/09/2026 USD MORGAN STANLEY 5.000% 13-24/11/2025 USD MORGAN STANLEY 7.300% 09-13/05/2019 USD NEWELL RUBBERMAID 3.150% /04/2021 USD NEWELL RUBBERMAID 4.200% /04/2026 USD NORDSTROM INC 5.000% 14-15/01/2044 USD NORTHROP GRUMMAN 3.250% /08/2023 USD NORTHROP GRUMMAN 7.750% /02/2031 USD OCCIDENTAL PETE 3.400% 16-15/04/2026 USD OMEGA HEALTHCARE 4.375% 16-01/08/2023 USD OMEGA HEALTHCARE 4.950% 14-01/04/2024 USD ORACLE CORP 4.300% 14-08/07/2034 USD PACKAGING CORP 3.650% 14-15/09/2024 USD PNC BANK NA 3.250% 15-01/06/2025 USD PRINCIPAL FINANCIAL 3.100% 16-15/11/2026 USD PROLOGIS LP 3.750% 15-01/11/2025 USD REGIONS BK ALAB 7.500% 08-15/05/2018 USD REGIONS FINL 3.200% 16-08/02/2021 USD REPUBLIC SVCS 2.900% 16-01/07/2026 USD ROPER TECHNOLOGIES 3.800% /12/2026 USD SOUTHERN POWER 4.150% 15-01/12/2025 USD SUNOCO LOGISTICS 3.900% 16-15/07/2026 USD SYSCO CORP 6.500% 98-01/08/2028 USD TESORO CORP 5.125% 16-15/12/2026 USD TIME WARNER CABLE 5.000% 09-01/02/2020 USD TIME WARNER INC 3.800% 16-15/02/2027 USD UNDER ARMOUR INC 3.250% 16-15/06/2026 USD UNION PACIFIC CORP 4.050% 15-15/11/2045 USD US TSY INFL IX N/B 0.625% 11-15/07/2021 USD US TSY INFL IX N/B 1.000% 16-15/02/2046 USD VALERO ENERGY 3.400% 16-15/09/2026 USD VALERO ENERGY PA 4.375% 16-15/12/2026 USD VENTAS REALTY LP 3.500% 15-01/02/2025 USD VERIZON COMMUNICATIONS INC 4.522% /09/2048 USD VERIZON COMMUNICATIONS INC 4.600% /04/2021 USD VERIZON COMMUNICATIONS INC 5.150% /09/2023 USD VERIZON COMMUNICATIONS INC 6.550% /09/2043 USD WASTE MANAGEMENT 3.500% /05/2024 USD WASTE MANAGEMENT 4.100% /03/2045 USD WELLS FARGO & CO 2.500% 16-04/03/2021 USD WELLTOWER 4.000% 15-01/06/2025 USD WESTLAKE CHEMICAL 3.600% 16-15/08/2026 USD WHIRLPOOL CORP 4.000% 14-01/03/2024 USD WHIRLPOOL CORP 4.500% 16-01/06/2046 USD XYLEM INC 3.250% 16-01/11/2026 USD The Netherlands MONDELEZ INTERNATIONAL INC 2.000% /10/2021 USD NETHERLANDS GOVERNMENT 2.250% /07/2022 EUR NXP BV/NXP FUNDI 3.875% 16-01/09/2022 USD TEVA PHARMACEUT 2.800% 16-21/07/2023 USD United Kingdom HSBC HOLDINGS PLC 2.650% 16-05/01/2022 USD INVESCO FIN PLC 3.750% 15-15/01/2026 USD SANTANDER UK GRP 2.875% 15-16/10/2020 USD UK TSY I/L GILT 0.125% 15-22/03/2026 GBP Italy INTESA SANPAOLO 3.875% 13-15/01/2019 USD ITALY BTPS 2.700% 16-01/03/2047 EUR Singapore SINGAPORE GOVT 1.250% 16-01/10/2021 SGD Norway NORWEGIAN GOVT 1.750% 15-13/03/2025 NOK Australia AUSTRALIAN GOVT % 12-21/04/2024 AUD Canada BROOKFIELD FIN 4.250% 16-02/06/2026 USD ENBRIDGE INC 4.250% 16-01/12/2026 USD FORTIS INC 3.055% 16-04/10/2026 USD ROGERS COMMUNICATIONS INC 3.625% /12/2025 USD ROGERS COMMUNICATIONS INC 5.450% /10/2043 USD Mexico MEXICAN BONOS % 05-05/12/2024 MXN Ireland AERCAP IRELAND C 3.950% 16-01/02/2022 USD France BANQUE FED CREDIT MUTUEL 2.750% /10/2020 USD Page 102

105 Bond USD Expressed in USD Luxembourg ACTAVIS FUNDING 3.800% 15-15/03/2025 USD ACTAVIS FUNDING 4.750% 15-15/03/2045 USD Floating rate bonds United States of America CAS 2015-C04 2M /04/2028 FRN USD CAS 2016-C03 2M /10/2028 FRN USD CAS 2016-C05 2M /01/2029 FRN USD CAS 2016-C06 1M /04/2029 FRN USD CAS 2016-C07 2M /04/2029 FRN USD CHASE M /12/2045 FRN USD FH /09/2043 FRN USD FH /11/2042 FRN USD FHR 4092 HS 12-15/08/2042 FRN USD FHR 4259 SA 13-15/10/2043 FRN USD FHR 4480 WS 15-15/06/2045 FRN USD FN AL /09/2043 FRN USD FN BD /08/2046 FRN USD FN BD /11/2044 FRN USD FNR DC 05-25/06/2035 FRN USD FNR S 12-25/03/2042 FRN USD FNR HS 12-25/03/2042 FRN USD FNR SD 12-25/09/2042 FRN USD FNR SK 12-25/09/2042 FRN USD FNR SY 13-25/07/2043 FRN USD FNR LS 16-25/11/2046 FRN USD FREMF 2012-K23 C 12-25/10/2045 FRN USD FREMF 2013-K24 C 13-25/11/2045 FRN USD FREMF 2013-K29 C 13-25/05/2046 FRN USD FREMF 2014-K37 C 14-25/01/2047 FRN USD FREMF 2015-K48 B 15-25/08/2048 FRN USD GAHR 2015-NRF CFX 15-15/12/2034 FRN USD GNR 2010-H19 JI 10-20/08/2060 FRN USD GNR 2011-H03 HI 11-20/01/2061 FRN USD GNR 2011-H05 HI 11-20/01/2061 FRN USD GNR SB 12-20/07/2042 FRN USD GNR SC 12-20/08/2042 FRN USD GNR 2012-H02 AI 12-20/01/2062 FRN USD GNR SB 13-16/10/2043 FRN USD GNR 2013-H01 FI 13-20/01/2063 FRN USD GNR 2013-H04 BI 13-20/02/2063 FRN USD GNR SB 15-20/09/2045 FRN USD METLIFE INC 06-15/12/2036 FRN USD STACR 2015-DNA2 M /12/2027 FRN USD STACR 2016-HQA3 M /03/2029 FRN USD STACR 2016-HQA4 M /04/2029 FRN USD Cayman Islands AMMC A BR 16-30/10/2023 FRN USD ANCHC A B 16-15/01/2029 FRN USD BABSN 2014-IIA A 14-17/10/2026 FRN USD BLUEM A BR 16-20/11/2028 FRN USD CGMS A A /10/2027 FRN USD DRSLF A BR 16-15/10/2028 FRN USD LCM 17A BR 16-15/10/2026 FRN USD MAGNE A BR 16-15/04/2026 FRN USD OZLMF A A1R 15-22/07/2027 FRN USD Ireland DORPK A A 15-20/01/2027 FRN USD Other transferable securities To be Announced ("TBA") Mortgage Backed Securities United States of America FGLMC 3.5 1/ % 11-15/09/2040 USD ( ) FGLMC 4 1/ % 11-15/09/2040 USD ( ) (0.77) FNCI 3 1/ % 15-25/06/2029 USD FNCI 3.5 1/ % 12-25/07/2026 USD FNCL 3 1/ % 13-25/10/2042 USD FNCL 3.5 1/ % 12-25/06/2041 USD FNCL 4.000% 10-25/09/2039 USD FNCL 4.5 1/ % 12-25/03/2040 USD FNCL 5 1/ % 11-25/08/2037 USD G2SF 3 1/ % 13-20/05/2042 USD Shares/Units in investment funds Luxembourg BNPP FLEXI I US MORTGAGE - X - CAP USD Total securities portfolio Page 103

106 Bond USD Short Duration Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ALPHABET INC 1.998% 16-15/08/2026 USD AMERICAN EXPRESS 2.250% 16-05/05/2021 USD AMERICAN EXPRESS CO 6.150% /08/2017 USD AMGEN INC 6.150% 08-01/06/2018 USD ANHEUSER - BUSCH 1.375% 12-15/07/2017 USD ANHEUSER - BUSCH 1.900% 16-01/02/2019 USD APPLE INC 1.550% 16-04/08/2021 USD APPLE INC 2.250% 16-23/02/2021 USD BANK OF AMERICA CORP 2.151% /11/2020 USD BB&T CORPORATION 1.350% 14-01/10/2017 USD BB&T CORPORATION 2.050% 16-10/05/2021 USD BEAR STEARNS CO 6.400% 07-02/10/2017 USD CAPITAL ONE NA 1.500% 14-05/09/2017 USD CAPITAL ONE NA 2.350% 15-17/08/2018 USD CHEVRON CORP 1.718% 13-24/06/2018 USD CITIGROUP INC 2.050% 15-07/12/2018 USD CITIGROUP INC 2.700% 16-30/03/2021 USD CONOCOPHILLIPS CO 1.500% 15-15/05/2018 USD CREDIT SUISSE NY 1.700% 15-27/04/2018 USD CVS HEALTH CORP 2.125% 16-01/06/2021 USD DAIMLER FINANCE 1.650% 15-18/05/2018 USD DOMINION RES 1.400% 12-15/09/2017 USD DUKE ENERGY CORP 2.100% 13-15/06/2018 USD EATON CORP 1.500% 13-02/11/2017 USD EBAY INC 2.500% 16-09/03/2018 USD FORD MOTOR CRED 1.724% 14-06/12/2017 USD FORD MOTOR CRED 3.336% 16-18/03/2021 USD GILEAD SCIENCES 1.850% 15-04/09/2018 USD GN % 13-15/09/2039 USD GNR PC 5.500% 04-20/04/2034 USD GNR KB 6.000% 08-20/06/2038 USD GNR IO 4.500% 14-20/06/2044 USD GNR IB 4.000% 15-20/09/2043 USD HOME DEPOT INC 2.000% 16-01/04/2021 USD HSBC USA INC 2.625% 13-24/09/2018 USD KEY BANK NA 1.700% 15-01/06/2018 USD KEY BANK NA 2.350% 16-08/03/2019 USD MEDTRONIC INC 1.500% 15-15/03/2018 USD MORGAN STANLEY 2.500% 16-21/04/2021 USD MORGAN STANLEY 2.800% 15-16/06/2020 USD NEW YORK LIFE GL 1.300% 15-27/04/2018 USD ORACLE CORP 1.900% 16-15/09/2021 USD PNC BANK NA 1.600% 15-01/06/2018 USD QUALCOMM INC 1.400% 15-18/05/2018 USD SCHLUMBERGER HLD 3.000% 15-21/12/2020 USD SDART C 2.130% 14-17/08/2020 USD SOUTHERN POWER 1.500% 15-01/06/2018 USD STRYKER CORP 2.625% 16-15/03/2021 USD UBS AG STAMFORD 1.375% 14-14/08/2017 USD US TREASURY N/B 1.000% 16-15/11/2019 USD US TREASURY N/B 1.375% 13-31/05/2020 USD US TREASURY N/B 1.375% 16-15/12/2019 USD US TREASURY N/B 1.625% 15-30/11/2020 USD US TREASURY N/B 2.000% 17-31/12/2021 USD US TSY INFL IX N/B 0.125% 14-15/07/2024 USD VERIZON COMMUNICATIONS INC 4.500% /09/2020 USD WACHOVIA CORP 5.750% 08-01/02/2018 USD WELLS FARGO & CO 2.100% 16-26/07/2021 USD XCEL ENERGY INC 1.200% 15-01/06/2017 USD United Kingdom BARCLAYS BANK PLC 2.750% 14-08/11/2019 USD DIAGEO CAP 5.750% 07-23/10/2017 USD HSBC HOLDINGS PLC 3.400% 16-08/03/2021 USD Canada BANK NOVA SCOTIA 1.650% 16-14/06/2019 USD TORONTO DOMINION BANK 2.125% /04/2021 USD The Netherlands SHELL INTL FIN 4.300% 09-22/09/2019 USD British Virgin Islands FORDO 2015-B A % 15-15/11/2019 USD Ireland GE CAPITAL INTL 2.342% 16-15/11/2020 USD Floating rate bonds United States of America CAH A A 15-17/07/2032 FRN USD CDGJ 2014-BXCH A 14-15/12/2027 FRN USD CSMC 2015-DEAL A 15-15/04/2029 FRN USD GOLDMAN SACHS GP 15-15/09/2020 FRN USD JP MORGAN CHASE 14-28/01/2019 FRN USD PROG 2016-SFR1 A 16-17/09/2033 FRN USD Total securities portfolio Page 104

107 Bond World Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ST CENTURY FOX AMERICA 6.650% /11/2037 USD ABBVIE INC 0.375% 16-18/11/2019 EUR ACTIVISION BLIZZ 2.300% 16-15/09/2021 USD AIR LEASE CORP 2.625% 15-04/09/2018 USD AIR LEASE CORP 3.875% 14-01/04/2021 USD ALEXANDRIA REAL 4.600% 12-01/04/2022 USD AMERICAN TOWER 3.375% 16-15/10/2026 USD AMERICAN TOWER 3.500% 13-31/01/2023 USD APACHE CORP 2.625% 12-15/01/2023 USD AT&T INC 2.800% 16-17/02/2021 USD AT&T INC 4.125% 16-17/02/2026 USD BANK OF AMERICA CORP 2.600% /01/2019 USD BANK OF AMERICA CORP 2.625% /10/2020 USD BANK OF AMERICA CORP 3.248% /10/2027 USD BANK OF AMERICA CORP 3.875% /08/2025 USD BANK OF AMERICA CORP 5.625% /07/2020 USD BANK ONE CORP 7.750% 95-15/07/2025 USD BORG-WARNER AUTO 4.375% 15-15/03/2045 USD BOSTON PROPERTIES LP 3.650% /02/2026 USD BUNGE LTD FIN CP 3.250% 16-15/08/2026 USD BURLINGTON NORTH 6.200% 06-15/08/2036 USD CAPITAL ONE FINL 3.750% 16-28/07/2026 USD CAPITAL ONE FINL 4.200% 15-29/10/2025 USD CARGILL INC 4.307% 11-14/05/2021 USD CF INDUSTRIES IN 3.400% 16-01/12/2021 USD CIMAREX ENERGY 4.375% 14-01/06/2024 USD CITIGROUP INC 1.750% 13-01/05/2018 USD CITIGROUP INC 4.600% 16-09/03/2026 USD COMCAST CORP 4.200% 14-15/08/2034 USD COMCAST CORP 4.400% 15-15/08/2035 USD CONOCOPHILLIPS CO 2.400% 12-15/12/2022 USD CONSTELLATION BR 3.700% 16-06/12/2026 USD CROWN CASTLE INTL 3.400% 16-15/02/2021 USD CSX CORP 3.350% 15-01/11/2025 USD CVS HEALTH CORP 3.500% 15-20/07/2022 USD DIAMOND 1 FIN/DI 4.420% 16-15/06/2021 USD DISCOVER BANK 7.000% 10-15/04/2020 USD DISCOVER FINANCIAL SERVICES 3.750% /03/2025 USD DOMINION RESOURCES 5.250% /08/2033 USD DOW CHEMICAL CO 4.375% 12-15/11/2042 USD DUKE ENERGY CORP 6.450% 02-15/10/2032 USD EMERA US FINANCE 3.550% 16-15/06/2026 USD ENERGY TRAN PTNR 4.150% 13-01/10/2020 USD ENERGY TRAN PTNR 6.700% 08-01/07/2018 USD EXELON CORP 4.950% 16-15/06/2035 USD FEDEX CORP 3.200% 15-01/02/2025 USD FIVE COR FND TRS 4.419% 13-15/11/2023 USD FORD MOTOR CO 7.450% 99-16/07/2031 USD FORD MOTOR CRED 3.157% 15-04/08/2020 USD FORTUNE BRANDS 3.000% 15-15/06/2020 USD GEN ELECTRIC CO 4.500% 14-11/03/2044 USD GEN MOTORS FIN 0.955% 16-07/09/2023 EUR GEN MOTORS FIN 3.200% 16-06/07/2021 USD GEN MOTORS FIN 4.000% 15-15/01/2025 USD GEN MOTORS FIN 4.375% 14-25/09/2021 USD GENERAL MOTORS CO 3.500% /10/2018 USD GENERAL MOTORS CO 5.200% /04/2045 USD GILEAD SCIENCES 5.650% 11-01/12/2041 USD GOLDMAN SACHS GP 2.350% 16-15/11/2021 USD GOLDMAN SACHS GP 2.600% 15-23/04/2020 USD GOLDMAN SACHS GP 2.625% 14-31/01/2019 USD GOLDMAN SACHS GP 2.875% 16-25/02/2021 USD GOLDMAN SACHS GP 2.900% 13-19/07/2018 USD GOLDMAN SACHS GP 4.000% 14-03/03/2024 USD GOLDMAN SACHS GP 4.250% 15-21/10/2025 USD GOLDMAN SACHS GP 5.950% 06-15/01/2027 USD HP ENTERPRISE 3.600% 15-15/10/2020 USD INGREDION INC 3.200% 16-01/10/2026 USD INTL LEASE FIN 7.125% 10-01/09/2018 USD INTL PAPER CO 3.000% 16-15/02/2027 USD JP MORGAN CHASE 0.625% 16-25/01/2024 EUR JP MORGAN CHASE 2.950% 16-01/10/2026 USD JP MORGAN CHASE 4.250% 15-01/10/2027 USD JP MORGAN CHASE 6.400% 08-15/05/2038 USD JPMCC 2012-C6 A % 12-15/05/2045 USD KEMPER 4.350% 15-15/02/2025 USD KEYSIGHT TECHNOL 4.550% 15-30/10/2024 USD KIMCO REALTY 3.200% 14-01/05/2021 USD KINDER MORGAN 3.050% 14-01/12/2019 USD KRAFT HEINZ FOOD 3.000% 16-01/06/2026 USD LENNOX INTERNATIONAL INC 3.000% /11/2023 USD MAGELLAN MID 4.200% 15-15/03/2045 USD MARATHON OIL CORP 3.850% 15-01/06/2025 USD MARRIOTT INTL 3.125% 16-15/06/2026 USD MERRILL LYNCH 7.750% 08-14/05/2038 USD MORGAN STANLEY 3.125% 14-05/08/2021 CAD MORGAN STANLEY 4.350% 14-08/09/2026 USD MORGAN STANLEY 5.000% 13-24/11/2025 USD NEWELL RUBBERMAID 3.150% /04/2021 USD NORTHROP GRUMMAN 3.850% /04/2045 USD NORTHROP GRUMMAN 7.750% /02/2031 USD NVIDIA CORP 3.200% 16-16/09/2026 USD OHIO POWER CO 5.375% 09-01/10/2021 USD OMEGA HEALTHCARE 4.375% 16-01/08/2023 USD PACKAGING CORP 3.650% 14-15/09/2024 USD PNC FINANCIAL 3.900% 14-29/04/2024 USD PRINCIPAL FINANCIAL 3.100% 16-15/11/2026 USD REGIONS BK ALAB 7.500% 08-15/05/2018 USD REGIONS FINL 3.200% 16-08/02/2021 USD REPUBLIC SVCS 2.900% 16-01/07/2026 USD ROPER TECHNOLOGIES 3.800% /12/2026 USD SUNOCO LOGISTICS 3.900% 16-15/07/2026 USD SUNTRUST BANKS 2.900% 16-03/03/2021 USD SYNCHRONY FINANCIAL 3.750% /08/2021 USD SYSCO CORP 6.500% 98-01/08/2028 USD TEACHERS INS&ANN 4.900% 14-15/09/2044 USD TESORO CORP 5.125% 16-15/12/2026 USD THERMO FISHER 0.750% 16-12/09/2024 EUR TIME WARNER CABLE 5.000% 09-01/02/2020 USD TIME WARNER INC 3.800% 16-15/02/2027 USD UNDER ARMOUR INC 3.250% 16-15/06/2026 USD Page 105

108 Bond World Expressed in EUR US TREASURY N/B 1.625% 16-15/05/2026 USD US TREASURY N/B 3.375% 14-15/05/2044 USD US TSY INFL IX N/B 0.625% 11-15/07/2021 USD US TSY INFL IX N/B 1.000% 16-15/02/2046 USD VALERO ENERGY 3.400% 16-15/09/2026 USD VALERO ENERGY PA 4.375% 16-15/12/2026 USD VERIZON COMMUNICATIONS INC 4.522% /09/2048 USD VERIZON COMMUNICATIONS INC 5.150% /09/2023 USD VERIZON COMMUNICATIONS INC 6.550% /09/2043 USD WALT DISNEY CO 4.125% 14-01/06/2044 USD WASTE MANAGEMENT 4.100% /03/2045 USD WELLS FARGO & CO 4.400% 16-14/06/2046 USD WESTLAKE CHEMICAL 3.600% 16-15/08/2026 USD WHIRLPOOL CORP 4.000% 14-01/03/2024 USD WHIRLPOOL CORP 4.500% 16-01/06/2046 USD XYLEM INC 3.250% 16-01/11/2026 USD ZIMMER HOLDINGS 3.550% 15-01/04/2025 USD Italy INTESA SANPAOLO 3.875% 13-15/01/2019 USD ITALY BTPS 0.700% 15-01/05/2020 EUR ITALY BTPS 2.500% 14-01/12/2024 EUR ITALY BTPS 2.700% 16-01/03/2047 EUR ITALY BTPS 5.250% 98-01/11/2029 EUR ITALY BTPS 5.500% 12-01/09/2022 EUR SNAM 0.875% 16-25/10/2026 EUR UNICREDIT SPA 3.625% 13-24/01/2019 EUR United Kingdom BARCLAYS BANK PLC 1.875% 16-08/12/2023 EUR BARCLAYS BANK PLC 6.000% 10-14/01/2021 EUR BAT INTL FINANCE 2.250% 16-09/09/2052 GBP CREDIT AGRICOLE 1.875% 16-20/12/2026 EUR EASYJET PLC 1.125% 16-18/10/2023 EUR FCE BANK PLC 1.528% 15-09/11/2020 EUR HAMMERSON PLC 3.500% 15-27/10/2025 GBP HSBC HOLDINGS PLC 1.500% 16-15/03/2022 EUR HSBC HOLDINGS PLC 2.650% 16-05/01/2022 USD LLOYDS BANK PLC 1.000% 14-19/11/2021 EUR MOTABILITY OPS 3.625% 16-10/03/2036 GBP UK TREASURY 1.500% 15-22/01/2021 GBP UK TREASURY 4.250% 08-07/12/2049 GBP UK TREASURY 4.250% 09-07/09/2039 GBP UK TSY I/L GILT 0.125% 15-22/03/2026 GBP UNITED KINGDOM G 3.500% 14-22/01/2045 GBP VODAFONE GROUP 5.625% 03-04/12/2025 GBP Japan JAPAN GOVT 10-YR 0.100% 16-20/09/2026 JPY JAPAN GOVT 10-YR 0.800% 13-20/06/2023 JPY JAPAN GOVT 30-YR 0.800% 16-20/03/2046 JPY JAPAN GOVT 30-YR 2.000% 10-20/09/2040 JPY Germany BASF SE 0.875% 16-06/10/2031 EUR BASF SE 1.375% 14-15/12/2017 GBP BUNDESREPUBLIK DEUTSCHLAND 2.500% /08/2046 EUR BUNDESREPUBLIK DEUTSCHLAND 3.000% /07/2020 EUR COMMERZBANK AG 0.500% 16-13/09/2023 EUR DT PFANDBRIEFBAN 1.875% 12-20/12/2019 GBP France AUTOROUTES DU SUD 1.000% /05/2026 EUR AUTOROUTES PARIS 1.125% 16-09/01/2026 EUR AUTOROUTES PARIS 1.500% 15-15/01/2024 EUR BANQUE FED CREDIT MUTUEL 1.875% /11/2026 EUR BNP PARIBAS 2.250% 16-11/01/2027 EUR CIE DE ST GOBAIN 0.000% 16-27/03/2020 EUR CNP ASSURANCES 1.875% 16-20/10/2022 EUR ELEC DE FRANCE 6.250% 08-30/05/2028 GBP FRANCE O.A.T % 98-25/04/2029 EUR HOLDING DINFRA 2.250% 14-24/03/2025 EUR ORANGE 8.000% 02-20/12/2017 GBP PERNOD RICARD SA 3.250% 16-08/06/2026 USD SCHNEIDER ELEC 0.250% 16-09/09/2024 EUR SOCIETE GENERALE 1.000% 16-01/04/2022 EUR UNIBAIL-RODAMCO 1.125% 16-28/04/2027 EUR WENDEL SA 1.000% 16-20/04/2023 EUR The Netherlands ABN AMRO BANK NV 2.250% 13-11/09/2017 GBP BMW FINANCE NV 0.875% 16-16/08/2022 GBP EDP FINANCE BV 2.375% 16-23/03/2023 EUR GAS NAT FENOSA F 1.250% 16-19/04/2026 EUR IBERDROLA INTL 1.125% 16-21/04/2026 EUR KONINKLIJKE KPN 0.625% 16-09/04/2025 EUR MONDELEZ INTERNATIONAL INC 2.000% /10/2021 USD NETHERLANDS GOVERNMENT 2.250% /07/2022 EUR NXP BV/NXP FUNDI 3.875% 16-01/09/2022 USD REN FINANCE BV 1.750% 16-01/06/2023 EUR TEVA PHARMACEUT 2.800% 16-21/07/2023 USD VONOVIA BV 1.625% 15-15/12/2020 EUR Spain CAIXABANK 2.625% 14-21/03/2024 EUR ENAGAS FIN SA 1.375% 16-05/05/2028 EUR FERROVIAL EMISIO 0.375% 16-14/09/2022 EUR GAS NATURAL CAP 6.375% 09-09/07/2019 EUR MERLIN PROPERTIES 1.875% 16-02/11/2026 EUR SPANISH GOVT 2.100% 13-30/04/2017 EUR SPANISH GOVT 5.400% 13-31/01/2023 EUR TELEFONICA EMIS 4.710% 12-20/01/2020 EUR Norway NORWEGIAN GOVT 1.750% 15-13/03/2025 NOK Ireland AERCAP IRELAND C 3.950% 16-01/02/2022 USD FCA CAPITAL IRELAND 1.625% /09/2021 GBP IRISH GOVT 0.800% 15-15/03/2022 EUR PARTNERRE IRELAND 1.250% 16-15/09/2026 EUR Canada BROOKFIELD FIN 4.250% 16-02/06/2026 USD CANADA GOVT 3.500% 11-01/12/2045 CAD CANADA-GOVT 1.500% 15-01/06/2026 CAD ENBRIDGE INC 4.250% 16-01/12/2026 USD FORTIS INC 3.055% 16-04/10/2026 USD ROGERS COMMUNICATIONS INC 3.625% /12/2025 USD ROGERS COMMUNICATIONS INC 5.340% /03/2021 CAD ROGERS COMMUNICATIONS INC 5.450% /10/2043 USD Page 106

109 Bond World Expressed in EUR Mexico MEXICAN BONOS % 05-05/12/2024 MXN MEXICAN BONOS 6.500% 11-10/06/2021 MXN Sweden HEMSO FASTIGHETS 1.000% 16-09/09/2026 EUR SWEDEN GOVERNMENT 3.750% /08/2017 SEK Switzerland SWISS GOVT 1.250% 12-11/06/2024 CHF Jersey Island UBS GROUP FUNDING 1.500% 16-30/11/2024 EUR Luxembourg ACTAVIS FUNDING 4.550% 15-15/03/2035 USD ACTAVIS FUNDING 4.750% 15-15/03/2045 USD Austria TELEKOM FINANZ 1.500% 16-07/12/2026 EUR Belgium KBC GROUP NV 0.750% 16-18/10/2023 EUR Floating rate bonds United States of America CAS 2015-C04 2M /04/2028 FRN USD CAS 2016-C03 2M /10/2028 FRN USD FHR 4092 HS 12-15/08/2042 FRN USD FHR 4480 WS 15-15/06/2045 FRN USD FNR S 12-25/03/2042 FRN USD FNR SD 12-25/09/2042 FRN USD FNR CS 13-25/10/2040 FRN USD FNR SY 13-25/07/2043 FRN USD FNR JS 13-25/12/2042 FRN USD FREMF 2013-K24 C 13-25/11/2045 FRN USD FREMF 2014-K37 C 14-25/01/2047 FRN USD FREMF 2015-K48 B 15-25/08/2048 FRN USD GAHR 2015-NRF CFX 15-15/12/2034 FRN USD GNR 2010-H19 JI 10-20/08/2060 FRN USD GNR SH 11-20/09/2041 FRN USD GNR 2011-H03 HI 11-20/01/2061 FRN USD GNR 2011-H05 HI 11-20/01/2061 FRN USD GNR 2012-H02 AI 12-20/01/2062 FRN USD GNR 2013-H01 FI 13-20/01/2063 FRN USD GNR 2013-H04 BI 13-20/02/2063 FRN USD GNR AS 14-20/09/2044 FRN USD METLIFE INC 06-15/12/2036 FRN USD STACR 2015-DNA2 M /12/2027 FRN USD Cayman Islands AMMC A BR 16-30/10/2023 FRN USD ANCHC A B 16-15/01/2029 FRN USD BABSN 2014-IIA A 14-17/10/2026 FRN USD BLUEM A BR 16-20/11/2028 FRN USD CGMS A A /10/2027 FRN USD DRSLF A BR 16-15/10/2028 FRN USD LCM 17A BR 16-15/10/2026 FRN USD MAGNE A BR 16-15/04/2026 FRN USD OZLMF A A1R 15-22/07/2027 FRN USD France AXA SA 10-16/04/2040 FRN EUR BNP PARIBAS 14-31/12/2049 FRN EUR CNP ASSURANCES 15-10/06/2047 FRN EUR CREDIT AGRICOLE 09-29/10/2049 FRN EUR CREDIT AGRICOLE ASSR 16-27/09/2048 FRN EUR ENGIE OPEN 14-02/06/2049 FRN EUR SUEZ 15-29/12/2049 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR Ireland DORPK A A 15-20/01/2027 FRN USD Sweden NORDEA BANK AB 16-07/09/2026 FRN EUR SKANDINAVISKA ENSKILDA BANK /10/2028 FRN EUR Italy ASSICURAZIONI 15-27/10/2047 FRN EUR Germany ENERGIE BADEN-WU 16-05/04/2077 FRN EUR MERCK 14-12/12/2074 FRN EUR Other transferable securities To be Announced ("TBA") Mortgage Backed Securities United States of America FGCI 2.5 1/ % 16-15/07/2030 USD FGLMC 3.5 1/ % 11-15/09/2040 USD FNCI 3 1/ % 15-25/06/2029 USD FNCI 3.5 1/ % 12-25/07/2026 USD FNCL 3 1/ % 13-25/10/2042 USD FNCL 3.5 1/ % 12-25/06/2041 USD FNCL 4.000% 10-25/09/2039 USD FNCL 4.5 1/ % 12-25/03/2040 USD FNCL 5 1/ % 11-25/08/2037 USD G2SF 3 1/ % 13-20/05/2042 USD G2SF 3.5 1/ % 12-20/09/2041 USD G2SF 4 1/ % 11-20/09/2040 USD Shares/Units in investment funds Luxembourg BNPP FLEXI I US MORTGAGE - X - CAP USD Total securities portfolio Page 107

110 Bond World Emerging Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Georgia BGEO GROUP JSC 6.000% 16-26/07/2023 USD JSC GEORGIAN RAILWAY 7.750% /07/2022 USD Turkey AKBANK 4.000% 15-24/01/2020 USD GARANTI BANKASI 4.750% 14-17/10/2019 USD REP OF TURKEY 6.625% 14-17/02/2045 USD Egypt ARAB REP EGYPT 5.875% 15-11/06/2025 USD EGYPT 5.750% 10-29/04/2020 USD Azerbaijan INTL BANK OF AZERB 5.625% 14-11/06/2019 USD Philippines REP OF PHILIPPINES 7.750% 06-14/01/2031 USD REP OF PHILIPPINES 9.500% 05-02/02/2030 USD Panama PANAMA 9.375% 99-01/04/2029 USD Mexico PEMEX MASTER TR 6.625% 09-15/06/2038 USD PETROLEOS MEXICA 5.375% 16-13/03/2022 USD PETROLEOS MEXICA 5.500% 10-21/01/2021 USD UNITED MEXICAN 4.000% 15-15/03/2115 EUR UNITED MEXICAN 5.625% 14-19/03/2114 GBP Argentina ARGENTINA 5.000% 16-15/01/2027 EUR PETROBRAS ARGENT 7.375% 16-21/07/2023 USD Dominican Republic REP OF DOMINICAN 6.875% 16-29/01/2026 USD The Netherlands PETROBRAS 7.250% 14-17/03/2044 USD PETROBRAS 8.750% 16-23/05/2026 USD PETROBRAS GLOB 6.850% 15-05/06/2115 USD Luxembourg SBERBANK 5.125% 12-29/10/2022 USD Indonesia REP OF INDONESIA 6.750% 14-15/01/2044 USD REP OF INDONESIA 8.500% 05-12/10/2035 USD Kenya REP OF KENYA 5.875% 14-24/06/2019 USD Lebanon REP OF LEBANESE 6.600% 11-27/11/2026 USD Poland REP OF POLAND 3.250% 16-06/04/2026 USD Ireland ALFA BANK 7.500% 12-26/09/2019 USD Uruguay URUGUAY 5.100% 14-18/06/2050 USD URUGUAY 7.625% 06-21/03/2036 USD Hungary HUNGARY GOVT 5.375% 14-25/03/2024 USD Chile EMPRESA NACIONAL 3.750% 16-05/08/2026 USD Ukraine UKRAINE GOVT 7.750% 15-01/09/2019 USD UKRAINE GOVT 7.750% 15-01/09/2027 USD Namibia NAMIBIA INTL BND 5.500% 11-03/11/2021 USD REP OF NAMIBIA 5.250% 15-29/10/2025 USD Ecuador REP OF ECUADOR % 15-24/03/2020 USD REP OF ECUADOR % 16-28/03/2022 USD Colombia ECOPETROL SA 7.375% 13-18/09/2043 USD Croatia CROATIA 6.000% 13-26/01/2024 USD Venezuela VENEZUELA 7.000% 07-31/03/2038 USD Kazakhstan ZHAIKMUNAI LLP 7.125% 12-13/11/2019 USD Peru REP OF PERU 8.750% 03-21/11/2033 USD Trinidad & Tobago PETROTRIN 9.750% 09-14/08/2019 USD TRINIDAD & TOBAGO 4.500% 16-04/08/2026 USD United Kingdom UKREXIMBANK 9.750% 15-22/01/2025 USD Kuwait KUWAIT ENERGY 9.500% 14-04/08/2019 USD Romania ROMANIA 6.125% 14-22/01/2044 USD Sri Lanka REP OF SRI LANKA 6.825% 16-18/07/2026 USD Macedonia MACEDONIA-C BOND 5.625% 16-26/07/2023 EUR Costa Rica COSTA RICA 7.158% 15-12/03/2045 USD El Salvador REP OF EL SALVADOR 8.250% 02-10/04/2032 USD Jamaica JAMAICA GOVT 8.000% 07-15/03/2039 USD Zambia REP OF ZAMBIA 8.970% 15-30/07/2027 USD Gabon GABONESE REPUBLIC 6.950% 15-16/06/2025 USD Paraguay PARAGUAY 5.000% 16-15/04/2026 USD Surinam REP OF SURINAME 9.250% 16-26/10/2026 USD Oman OMAN INTRNL BOND 4.750% 16-15/06/2026 USD Ghana REP OF GHANA % 15-14/10/2030 USD Page 108

111 Bond World Emerging Expressed in USD Cameroon REP OF CAMEROON 9.500% 15-19/11/2025 USD Nigeria REP OF NIGERIA 6.375% 13-12/07/2023 USD Pakistan REP OF PAKISTAN 7.875% 06-31/03/2036 USD India ADANI TRANSMISSI 4.000% 16-03/08/2026 USD Mozambique REP OF MOZAMBIQUE % /01/2023 USD Floating rate bonds Ivory Coast IVORY COAST 10-31/12/2032 SR FLAT USD Argentina BANCO MACRO SA 16-04/11/2026 FRN USD Ireland ALFA BANK 07-22/02/2017 SR USD Congo REP OF CONGO 07-30/06/2029 SR USD Belize BELIZE 13-20/02/2038 SR USD Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH USD - I - CAP USD Total securities portfolio Page 109

112 Bond World Emerging Local Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Indonesia INDONESIA GOVT % 07-15/02/2028 IDR INDONESIA GOVT % 07-15/09/2024 IDR INDONESIA GOVT % 09-15/08/2030 IDR INDONESIA GOVT 6.625% 12-15/05/2033 IDR INDONESIA GOVT 8.375% 13-15/03/2034 IDR INDONESIA GOVT 8.750% 15-15/05/2031 IDR INDONESIA GOVT 9.000% 13-15/03/2029 IDR Turkey REP OF TURKEY 7.500% 09-07/11/2019 USD TURKEY GOVT BOND % 10-15/01/2020 TRY TURKEY GOVT BOND % 16-11/02/2026 TRY TURKEY GOVT BOND 8.000% 15-12/03/2025 TRY South Africa REP OF SOUTH AFRICA % /12/2026 ZAR REP OF SOUTH AFRICA 7.000% /02/2031 ZAR REP OF SOUTH AFRICA 7.250% /01/2020 ZAR REP OF SOUTH AFRICA 8.250% /03/2032 ZAR REP OF SOUTH AFRICA 8.750% /02/2048 ZAR Colombia COLOMBIA TES % 09-24/07/2024 COP COLOMBIA TES % 05-24/07/2020 COP COLOMBIA TES 6.000% 12-28/04/2028 COP COLOMBIA TES 7.750% 15-18/09/2030 COP EE. PP. MEDELLIN 7.625% 14-10/09/2024 COP REP OF COLOMBIA 9.850% 07-28/06/2027 FLAT COP Mexico MEXICAN BONOS % 05-05/12/2024 MXN MEXICAN BONOS 6.500% 11-10/06/2021 MXN MEXICAN BONOS 7.500% 07-03/06/2027 MXN MEXICAN BONOS 7.750% 14-23/11/2034 MXN MEXICAN BONOS 8.500% 09-13/12/2018 MXN Malaysia MALAYSIAN GOVT 3.480% 13-15/03/2023 MYR MALAYSIAN GOVT 3.795% 15-30/09/2022 MYR MALAYSIAN GOVT 4.736% 16-15/03/2046 MYR MALAYSIAN GOVT 5.734% 04-30/07/2019 MYR Brazil BRAZIL NTN-F % 12-01/01/2023 FLAT BRL BRAZIL NTN-F % 14-01/01/2025 FLAT BRL Poland POLAND GOVT BOND 1.750% 16-25/07/2021 PLN POLAND GOVT BOND 3.250% 14-25/07/2025 PLN Hungary HUNGARY GOVT 6.000% 07-24/11/2023 HUF HUNGARY GOVT 7.000% 11-24/06/2022 HUF Ireland RZD CAPITAL PLC 9.200% 16-07/10/2023 RUB Russia RUSSIA-OFZ 7.000% 13-16/08/2023 RUB RUSSIA-OFZ 7.050% 13-19/01/2028 RUB Romania ROMANIA 5.800% 12-26/07/2027 RON ROMANIA 5.950% 11-11/06/2021 RON Egypt EGYPT 5.750% 10-29/04/2020 USD Peru REP OF PERU 6.850% 10-12/02/2042 PEN REP OF PERU 6.900% 07-12/08/2037 PEN REP OF PERU 8.200% 06-12/08/2026 PEN United States of America INTL FIN CORP % 16-05/10/2021 UYU Israel ISRAEL CPI 1.750% 13-29/09/2023 FLAT ILS Thailand THAILAND GOVT 4.875% 09-22/06/2029 THB Philippines PHILIPPINE GOVT 3.500% 16-20/09/2026 PHP PHILIPPINE GOVT 8.000% 11-19/07/2031 PHP Floating rate bonds Argentina YPF SOCIEDAD ANO 16-07/07/2020 FRN USD Other transferable securities Bonds Mexico MEXICAN BONOS 8.000% 03-07/12/2023 MXN Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH USD - I - CAP USD Total securities portfolio Page 110

113 Bond World High Yield Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ACI WORLDWIDE 6.375% 13-15/08/2020 USD ADIENT GLOBAL HO 3.500% 16-15/08/2024 EUR ADIENT GLOBAL HO 4.875% 16-15/08/2026 USD AES CORPORATION 5.500% 14-15/03/2024 USD ALCOA INC 5.125% 14-01/10/2024 USD AMC ENTERTAINMNT 5.875% 14-15/02/2022 USD AMER AXLE & MFG 6.250% 13-15/03/2021 USD AMER AXLE & MFG 6.625% 12-15/10/2022 USD AMER AXLE & MFG 7.750% 11-15/11/2019 USD AMERIGAS FINANCE 7.000% 12-20/05/2022 USD AMERIGAS PARTNER 5.625% 16-20/05/2024 USD AMERIGAS PARTNER 5.875% 16-20/08/2026 USD AMKOR TECHNOLOGY INC 6.625% /06/2021 USD AMSURG CORP 5.625% 15-15/07/2022 USD ANTERO MIDSTREAM 5.375% 16-15/09/2024 USD ANTERO RESOURCES 5.125% 15-01/12/2022 USD ANTERO RESOURCES 6.000% 13-01/12/2020 USD ARGOS MERGER SUB 7.125% 15-15/03/2023 USD AVIS BUDGET CAR 5.125% 14-01/06/2022 USD BELDEN INC 5.500% 13-15/04/2023 EUR BOYD GAMING CORP 6.875% 15-15/05/2023 USD CABLEVISION SYS 5.875% 12-15/09/2022 USD CABLEVISION SYS 8.000% 10-15/04/2020 USD CALPINE CORP 5.375% 14-15/01/2023 USD CALPINE CORP 5.750% 14-15/01/2025 USD CALPINE CORP 5.875% 13-15/01/2024 USD CARRIZO OIL & GAS 6.250% 15-15/04/2023 USD CCO HOLDINGS LLC 5.750% 13-15/01/2024 USD CCO HOLDINGS LLC 5.875% 15-01/05/2027 USD CCO HOLDINGS LLC 5.875% 16-01/04/2024 USD CEDAR FAIR LP/CA 5.375% 15-01/06/2024 USD CENTENE CORP 5.625% 16-15/02/2021 USD CENTENE CORP 6.125% 16-15/02/2024 USD CENTURYLINK INC 6.450% 11-15/06/2021 USD CENTURYLINK INC 6.750% 13-01/12/2023 USD CENTURYLINK INC 7.500% 16-01/04/2024 USD CHEMOURS CO 6.625% 16-15/05/2023 USD CHENIERE CORP CH 7.000% 16-30/06/2024 USD CHESAPEAKE ENRGY 8.000% 15-15/12/2022 USD CHS/COMMUNITY 5.125% 14-01/08/2021 USD CHS/COMMUNITY 6.875% 14-01/02/2022 USD CHS/COMMUNITY 8.000% 12-15/11/2019 USD CLEAR CHNL WORLD 6.500% 13-15/11/2022 USD CLEAR CHNL WORLD 7.625% 12-15/03/2020 USD COMMSCOPE TECH F 6.000% 15-15/06/2025 USD CONCHO RES/MIDLA 5.500% 12-01/04/2023 USD CONCHO RES/MIDLA 5.500% 12-01/10/2022 USD CONSOL ENERGY 5.875% 15-15/04/2022 USD CONTINENTAL RES 4.500% 13-15/04/2023 USD CONTINENTAL RES 4.900% 14-01/06/2044 USD CONTINENTAL RES 5.000% 12-15/09/2022 USD COTT BEVERAGES 5.375% 15-01/07/2022 USD COVANTA HOLDING 5.875% 14-01/03/2024 USD CRSTWD PART/FIN 6.125% 14-01/03/2022 USD CSC HOLDINGS LLC 5.500% 16-15/04/2027 USD CSC HOLDINGS LLC 6.750% 11-15/11/2021 USD CVR REF/COFF FIN 6.500% 13-01/11/2022 USD CYRUSONE LP/CYRU 6.375% 13-15/11/2022 USD DANA HOLDING 5.375% 13-15/09/2021 USD DANA HOLDING 6.000% 13-15/09/2023 USD DAVITA HEALTHCARE 5.125% 14-15/07/2024 USD DAVITA INC 5.750% 12-15/08/2022 USD DEAN FOODS CO 6.500% 15-15/03/2023 USD DIAMOND 1 FIN/DI 7.125% 16-15/06/2024 USD DIAMONDBACK ENER 4.750% 16-01/11/2024 USD DISH DBS CORP 5.875% 12-15/07/2022 USD DISH DBS CORP 6.750% 11-01/06/2021 USD DISH DBS CORP 7.750% 16-01/07/2026 USD DOLLAR TREE 5.750% 16-01/03/2023 USD DONNELLEY & SONS 7.875% 13-15/03/2021 USD DPL INC 7.250% 12-15/10/2021 USD DYNEGY INC 7.375% 15-01/11/2022 USD ENDO FINANCE LLC 6.000% 15-15/07/2023 USD ENDO FINANCE LLC 7.750% 14-15/01/2022 USD ENERGIZER SPINCO 5.500% 15-15/06/2025 USD ENERGY TRANSFER 5.875% 13-15/01/2024 USD ENLINK MIDSTREAM 4.400% 14-01/04/2024 USD EQUINIX INC 5.375% 14-01/01/2022 USD EQUINIX INC 5.750% 14-01/01/2025 USD FIRST DATA CORP 5.000% 15-15/01/2024 USD FIRST DATA CORP 5.375% 15-15/08/2023 USD FIRST DATA CORP 7.000% 15-01/12/2023 USD FRESENIUS MEDICAL 4.750% 14-15/10/2024 USD FRONTIER COMM % 16-15/09/2022 USD FRONTIER COMM % 16-15/09/2025 USD FRONTIER COMM 6.875% 14-15/01/2025 USD FRONTIER COMM 8.500% 10-15/04/2020 USD FRONTIER COMM 8.750% 10-15/04/2022 USD GAMESTOP CORP 5.500% 14-01/10/2019 USD GANNETT CO 6.375% 13-15/10/2023 USD GENESIS ENERGY 6.750% 15-01/08/2022 USD GOODYEAR TIRE 5.125% 15-15/11/2023 USD GRAY TELE INC 5.125% 16-15/10/2024 USD GREEKTOWN HLDGS 8.875% 14-15/03/2019 USD GULFPORT ENERGY 6.000% 16-15/10/2024 USD HCA HOLDINGS INC 6.250% 12-15/02/2021 USD HCA INC 4.500% 16-15/02/2027 USD HCA INC 5.000% 14-15/03/2024 USD HCA INC 5.250% 14-15/04/2025 USD HCA INC 5.375% 15-01/02/2025 USD HCA INC 7.500% 11-15/02/2022 USD HDTFS INC 6.250% 13-15/10/2022 USD HEALTHSOUTH CORP 5.125% 15-15/03/2023 USD HERC RENTALS INC 7.500% 16-01/06/2022 USD IMS HEALTH INC 3.500% 16-15/10/2024 EUR INCPTN/RCKSPCE 8.625% 16-15/11/2024 USD IRON MOUNTAIN 5.750% 12-15/08/2024 USD KB HOME 4.750% 14-15/05/2019 USD KB HOME 7.500% 12-15/09/2022 USD KINDRED HEALTHCARE 8.000% /01/2020 USD KLX INC 5.875% 14-01/12/2022 USD L BRANDS INC 6.750% 16-01/07/2036 USD LAMAR MEDIA CORP 5.375% 14-15/01/2024 USD LEE ENTERPRISES 9.500% 14-15/03/2022 USD LEVEL 3 COMMUNICATIONS INC 5.750% /12/2022 USD LEVEL 3 FIN INC 5.250% 16-15/03/2026 USD LEVEL 3 FIN INC 5.625% 15-01/02/2023 USD Page 111

114 Bond World High Yield Expressed in EUR LEVI STRAUSS 5.000% 15-01/05/2025 USD LIFEPOINT HOSPIT 5.500% 14-01/12/2021 USD LIMITED BRANDS 5.625% 12-15/02/2022 USD LIN TELEVISION 5.875% 15-15/11/2022 USD MEDIACOM BROADBAND 6.375% /04/2023 USD MERITOR INC 6.750% 13-15/06/2021 USD MGM RESORTS 6.625% 12-15/12/2021 USD MGM RESORTS 7.750% 12-15/03/2022 USD MGP ESCROW LLC/I 5.625% 16-01/05/2024 USD MICRON TECH 5.500% 14-01/02/2025 USD MICRON TECH 5.875% 15-15/02/2022 USD MICRON TECH 7.500% 16-15/09/2023 USD MPT OP PTNR/FINL 5.250% 16-01/08/2026 USD MURPHY OIL CORP 4.700% 12-01/12/2022 USD MURPHY OIL CORP 6.875% 16-15/08/2024 USD NABORS INDS INC 4.625% 12-15/09/2021 USD NABORS INDS INC 5.000% 11-15/09/2020 USD NBTY INC 7.625% 16-15/05/2021 USD NCR CORP 5.875% 14-15/12/2021 USD NCR CORP 6.375% 14-15/12/2023 USD NEPTUNE FINCO % 15-15/01/2023 USD NEPTUNE FINCO % 15-15/10/2025 USD NETFLIX INC 5.375% 13-01/02/2021 USD NETFLIX INC 5.875% 15-15/02/2025 USD NEWFIELD EXPLOR 5.625% 12-01/07/2024 USD NEXSTAR BROADCASTING 6.125% /02/2022 USD NEXSTAR ESCROW 5.625% 16-01/08/2024 USD NIELSEN FINANCE 5.000% 14-15/04/2022 USD NOVELIS CORP 5.875% 16-30/09/2026 USD NOVELIS CORP 6.250% 16-15/08/2024 USD NRG ENERGY INC 6.250% 14-15/07/2022 USD NRG ENERGY INC 6.625% 13-15/03/2023 USD NRG ENERGY INC 7.250% 16-15/05/2026 USD NRG ENERGY INC 7.625% 11-15/01/2018 USD OASIS PETROLEUM 6.500% 11-01/11/2021 USD ONEOK INC 4.250% 12-01/02/2022 USD OUTFRONT MEDIA C 5.250% 15-15/02/2022 USD OUTFRONT MEDIA C 5.625% 15-15/02/2024 USD OUTFRONT MEDIA C 5.875% 15-15/03/2025 USD PENN NATL GAMING 5.875% 14-01/11/2021 USD POST HOLDINGS IN 5.000% 16-15/08/2026 USD PRIME SEC/FIN 9.250% 16-15/05/2023 USD RANGE RESOURCES 5.875% 16-01/07/2022 USD REGAL ENTERTAINMENT 5.750% /03/2022 USD REYNOLDS GROUP 5.750% 13-15/10/2020 USD ROWAN COS INC 7.375% 16-15/06/2025 USD RR DONNELLEY 6.000% 14-01/04/2024 USD SABINE PASS LIQU 5.750% 14-15/05/2024 USD SABINE PASS LIQU 6.250% 14-15/03/2022 USD SANMINA CORP 4.375% 14-01/06/2019 USD SBA COMMUNICATIONS 4.875% /07/2022 USD SCIENTIFIC GAMES % 15-01/12/2022 USD SCIENTIFIC GAMES 7.000% 14-01/01/2022 USD SERVICE CORP 4.500% 12-15/11/2020 USD SERVICE CORP 5.375% 14-15/05/2024 USD SINCLAIR TELE 5.625% 14-01/08/2024 USD SIRIUS XM RADIO 5.375% 16-15/07/2026 USD SIRIUS XM RADIO 6.000% 14-15/07/2024 USD SM ENERGY CO 6.750% 16-15/09/2026 USD SOLERA LLC / FIN % 16-01/03/2024 USD SOUTHERN STAR 5.125% 14-15/07/2022 USD SOUTHWESTERN ENERGY 4.050% /01/2020 USD SPEEDWAY MOTORSP 5.125% /02/2023 USD SPRINT CAP CORP 6.875% 98-15/11/2028 USD SPRINT CAP CORP 8.750% 02-15/03/2032 USD SPRINT CORP 7.250% 14-15/09/2021 USD SPRINT CORP 7.875% 14-15/09/2023 USD SPRINT NEXTEL % 12-15/11/2021 USD SPRINT NEXTEL 9.000% 11-15/11/2018 USD STEEL DYNAMICS 5.125% 15-01/10/2021 USD STEEL DYNAMICS 5.250% 13-15/04/2023 USD SUMMIT MID HLD / 5.500% 14-15/08/2022 USD SUNOCO LP/FIN 6.250% 16-15/04/2021 USD TARGA RES PRTNRS 5.125% 16-01/02/2025 USD TARGA RES PRTNRS 6.375% 12-01/08/2022 USD TARGA RES PRTNRS 6.750% 15-15/03/2024 USD TAYLOR MORRISON 5.250% 13-15/04/2021 USD TENET HEALTHCARE 6.000% 13-01/10/2020 USD TES LOG LP/CORP 5.875% 13-01/10/2020 USD TES LOG LP/CORP 6.125% 13-15/10/2021 USD TIME INC 5.750% 14-15/04/2022 USD T-MOBILE USA INC 6.000% 16-15/04/2024 USD T-MOBILE USA INC 6.375% 14-01/03/2025 USD T-MOBILE USA INC 6.500% 13-15/01/2024 USD T-MOBILE USA INC 6.625% 14-01/04/2023 USD TOLL BR FIN CORP 4.875% 15-15/11/2025 USD TREEHOUSE FOODS 4.875% 14-15/03/2022 USD UNITED RENTAL NA 4.625% 15-15/07/2023 USD UNITED RENTAL NA 5.500% 15-15/07/2025 USD UNIVISION COMM 5.125% 15-15/02/2025 USD UNIVISION COMM 6.750% 12-15/09/2022 USD US CONCRETE 6.375% 16-01/06/2024 USD VALEANT PHARMA 5.625% 13-01/12/2021 USD WEST CORP 5.375% 14-15/07/2022 USD WESTERN DIGITAL % 16-01/04/2024 USD WHITING PETROLEUM 5.750% 13-15/03/2021 USD WILLIAMS COS INC 4.550% 14-24/06/2024 USD WILLIAMS COS INC 5.750% 14-24/06/2044 USD WINDSTREAM CORP 7.750% 11-01/10/2021 USD WPX ENERGY INC 6.000% 12-15/01/2022 USD WYNN LAS VEGAS 5.500% 15-01/03/2025 USD XPO LOGISTICS 6.500% 15-15/06/2022 USD ZF NA CAPITAL 2.750% 15-27/04/2023 EUR ZF NA CAPITAL 4.000% 15-29/04/2020 USD Luxembourg ALTICE 6.250% 15-15/02/2025 EUR ALTICE 7.250% 14-15/05/2022 EUR ALTICE 7.625% 15-15/02/2025 USD ALTICE 7.750% 14-15/05/2022 USD ALTICE FINANCING 5.250% 15-15/02/2023 EUR ALTICE FINANCING 6.500% 13-15/01/2022 USD ALTICE FINANCING 6.625% 15-15/02/2023 USD ALTICE FINANCING 7.500% 16-15/05/2026 USD ALTICE FINCO SA 8.125% 13-15/01/2024 USD ARCELORMITTAL 6.750% 12-25/02/2022 USD ARCELORMITTAL 7.750% 09-15/10/2039 USD CONTOURGLOB PWR 5.125% 16-15/06/2021 EUR DEA FINANCE SA 7.500% 16-15/10/2022 EUR INEOS GROUP HOLD 5.875% 14-15/02/2019 USD MALLINCKRODT FIN 5.750% 14-01/08/2022 USD Page 112

115 Bond World High Yield Expressed in EUR MATTERHORN TELE 3.875% 15-01/05/2022 EUR MATTERHORN TELE 4.875% 15-01/05/2023 EUR MILLICOM INTL 6.625% 13-15/10/2021 USD MONITCHEM HOLD % 14-15/06/2022 EUR TR OP / TR FIN 6.375% 15-01/05/2022 EUR WIND ACQUISITION 4.000% 14-15/07/2020 EUR WIND ACQUISITION 7.000% 14-23/04/2021 EUR WIND ACQUISITION 7.375% 14-23/04/2021 USD ZINC CAPITAL 8.875% 11-15/05/2018 EUR United Kingdom ANGLO AMERICAN 3.625% 15-14/05/2020 USD ANGLO AMERICAN 4.875% 15-14/05/2025 USD ANGLO AMERICAN 9.375% 09-08/04/2019 USD AVIS BUDGET FINA 4.125% 16-15/11/2024 EUR CO-OP WHOLESALE 7.500% 11-08/07/2026 GBP ENSCO PLC 5.200% 15-15/03/2025 USD ENSCO PLC 5.750% 14-01/10/2044 USD EPHIOS HOLDCO II 8.250% 15-01/07/2023 EUR FIAT CHRYSLER AU 4.500% 15-15/04/2020 USD FIAT CHRYSLER AU 5.250% 15-15/04/2023 USD IHS MARKIT LTD 5.000% 16-01/11/2022 USD INEOS FINANCE PL 4.000% 15-01/05/2023 EUR INTL GAME TECH 6.250% 15-15/02/2022 USD LYNX I CORP 6.000% 13-15/04/2021 GBP SENSATA TECH UK 6.250% 15-15/02/2026 USD STRETFORD 6.250% 14-15/07/2021 GBP TESCO CORP TREAS 2.500% 14-01/07/2024 EUR TESCO PLC 5.125% 07-10/04/2047 EUR TESCO PLC 6.000% 99-14/12/2029 GBP VIRGIN MEDIA SEC 5.500% 14-15/01/2025 USD VIRIDIAN GROUP 7.500% 15-01/03/2020 EUR Canada BC ULC / 6.000% 14-01/04/2022 USD BOMBARDIER INC 6.000% 14-15/10/2022 USD BOMBARDIER INC 7.500% 15-15/03/2025 USD BOMBARDIER INC 7.750% 10-15/03/2020 USD BOMBARDIER INC 8.750% 16-01/12/2021 USD CASCADES INC 5.500% 14-15/07/2022 USD CENOVUS ENERGY 5.700% 10-15/10/2019 USD CENOVUS ENERGY 6.750% 10-15/11/2039 USD FIRST QUANTUM 6.750% 14-15/02/2020 USD LUNDIN MINING CORP 7.500% 14-01/11/2020 USD MEG ENERGY CORP 6.500% 11-15/03/2021 USD TECK RESOURCES 4.500% 10-15/01/2021 USD TECK RESOURCES 6.000% 10-15/08/2040 USD TECK RESOURCES 6.250% 11-15/07/2041 USD TECK RESOURCES 8.000% 16-01/06/2021 USD France AREVA SA 3.250% 13-04/09/2020 EUR AREVA SA 3.500% 10-22/03/2021 EUR CROWN EUROPEAN 2.625% 16-30/09/2024 EUR HOMEVI 6.875% 14-15/08/2021 EUR MOBILUX FINANCE 5.500% 16-15/11/2024 EUR NUMERICABLE 5.375% 14-15/05/2022 EUR NUMERICABLE 6.000% 14-15/05/2022 USD NUMERICABLE 6.250% 14-15/05/2024 USD NUMERICABLE-SFR 7.375% 16-01/05/2026 USD PAPREC HOLDING 7.375% 15-01/04/2023 EUR TEREOS FIN GROUP 4.250% 13-04/03/2020 EUR The Netherlands ADRIA BIDCO BV 7.875% 13-15/11/2020 EUR AXALTA COATING 3.750% 16-15/01/2025 EUR OI EUROPEAN GRP 3.125% 16-15/11/2024 EUR SCHAEFFLER VERWA 3.750% 16-15/09/2026 EUR SENSATA TECH BV 4.875% 13-15/10/2023 USD UPC HOLDING BV 6.375% 12-15/09/2022 EUR VIMPELCOM HLDGS 7.504% 11-01/03/2022 USD ZIGGO SECURED FI 4.250% 16-15/01/2027 EUR Italy TELECOM ITALIA 3.250% 15-16/01/2023 EUR TELECOM ITALIA 3.625% 16-19/01/2024 EUR TELECOM ITALIA 5.303% 14-30/05/2024 USD Germany RAPID HOLDING 6.625% 15-15/11/2020 EUR UNITYMEDIA 3.500% 15-15/01/2027 EUR UNITYMEDIA 4.000% 14-15/01/2025 EUR WEPA HYGIENEPROD 3.750% 16-15/05/2024 EUR Cayman Islands NOBLE HLDG INTL 4.625% 11-01/03/2021 USD NOBLE HLDG INTL 6.050% 11-01/03/2041 USD NOBLE HLDG INTL 6.950% 15-01/04/2025 USD TRANSOCEAN INC 6.800% 07-15/03/2038 USD TRANSOCEAN INC 7.125% 11-15/12/2021 USD TRANSOCEAN INC 9.000% 16-15/07/2023 USD Ireland ARDAGH PKG FIN 4.125% 16-15/05/2023 EUR ARDAGH PKG FIN 6.750% 16-15/05/2024 EUR EIRCOM FINANCE 4.500% 16-31/05/2022 EUR Australia FMG RES AUG % 12-01/04/2022 USD FMG RES AUG % 15-01/03/2022 USD Spain CELLNEX TELECOM 2.375% 16-16/01/2024 EUR Bermuda WEATHERFORD BERM 7.750% /06/2021 USD WEATHERFORD BERM 8.250% /06/2023 USD Floating rate bonds The Netherlands REPSOL INTL FIN 15-25/03/2075 FRN EUR TELEFONICA EUROP 13-29/09/2049 FRN EUR TELEFONICA EUROP 16-31/12/2049 FRN EUR United States of America GIBRALTAR INDSTR 13-01/02/2021 FRN USD LENNAR CORP 13-15/11/2022 FRN USD SABINE PASS LIQU 14-01/02/2021 FRN USD France HOMEVI 16-15/11/2021 FRN EUR PICARD GROUPE 13-01/08/2019 FRN EUR Luxembourg SES 16-29/12/2049 FRN EUR United Kingdom NEW LOOK SECURED 15-01/07/2022 FRN EUR Page 113

116 Bond World High Yield Expressed in EUR Shares/Units in investment funds Luxembourg PARVEST BOND WORLD HIGH YIELD SHORT DURATION - X - CAP USD Total securities portfolio Page 114

117 Bond World High Yield Short Duration Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ALCOA INC 5.550% 07-01/02/2017 USD ALCOA INC 6.150% 10-15/08/2020 USD CABLEVISION SYS 7.750% 10-15/04/2018 USD CONCHO RES/MIDLA 6.500% 11-15/01/2022 USD DIAMOND OFFSHORE 5.875% 09-01/05/2019 USD DISH DBS CORP 4.250% 13-01/04/2018 USD DOLLAR TREE 5.250% 16-01/03/2020 USD FRONTIER COMM 8.125% 09-01/10/2018 USD HCA INC 4.250% 14-15/10/2019 USD INTL GAME TECH 7.500% 09-15/06/2019 USD ISLE OF CAPRI 5.875% 13-15/03/2021 USD KB HOME 4.750% 14-15/05/2019 USD KINDRED HEALTHCARE 8.000% /01/2020 USD KLOECKNER PENTAPLAST 7.125% /05/2020 EUR LENNAR CORP 4.500% 14-15/11/2019 USD LIMITED BRANDS 8.500% 10-15/06/2019 USD METROPCS WIRELES 6.625% 10-15/11/2020 USD MURPHY OIL CORP 2.500% 12-01/12/2017 USD NABORS INDS INC 5.000% 11-15/09/2020 USD NRG ENERGY INC 7.875% 12-15/05/2021 USD POST HOLDINGS IN 6.750% 13-01/12/2021 USD PRIDE INTL INC 8.500% 09-15/06/2019 USD SPRINT NEXTEL 9.000% 11-15/11/2018 USD STEEL DYNAMICS 6.125% 13-15/08/2019 USD SUNOCO LP/FIN 5.500% 16-01/08/2020 USD TARGA RES PRTNRS 4.125% 14-15/11/2019 USD TENET HEALTHCARE 6.250% 11-01/11/2018 USD TES LOG LP/CORP 5.500% 16-15/10/2019 USD T-MOBILE USA INC 6.125% 13-15/01/2022 USD T-MOBILE USA INC 6.633% 13-28/04/2021 USD WHITING PETROLEUM 5.000% 13-15/03/2019 USD ZF NA CAPITAL 4.000% 15-29/04/2020 USD United Kingdom ANGLO AMERICAN 1.750% 13-20/11/2017 EUR ANGLO AMERICAN 2.625% 12-03/04/2017 USD ARQIVA BROAD FIN 9.500% 13-31/03/2020 GBP AVIS BUDGET FINA 6.000% 13-01/03/2021 EUR BAKKAVOR FIN % 11-15/02/2018 GBP BAT INTL FINANCE 2.125% 12-07/06/2017 USD IRON MOUNTAIN EU 6.125% 14-15/09/2022 GBP JAGUAR LAND ROVER 4.125% 13-15/12/2018 USD JAGUAR LAND ROVER 4.125% 13-15/12/2018 USD LYNX I CORP 6.000% 13-15/04/2021 GBP STRETFORD 6.250% 14-15/07/2021 GBP TESCO PLC 5.500% 07-15/11/2017 USD VIRGIN MEDIA FIN 7.000% 13-15/04/2023 GBP VIRIDIAN GROUP 7.500% 15-01/03/2020 EUR Luxembourg ALTICE 7.750% 14-15/05/2022 USD ALTICE FINANCING 6.500% 13-15/01/2022 EUR ALTICE FINCO SA 9.000% 13-15/06/2023 EUR INEOS GROUP HOLD 5.875% 14-15/02/2019 USD MALLINCKRODT INT 3.500% 14-15/04/2018 USD MILLICOM INTL 4.750% 13-22/05/2020 USD WIND ACQUISITION 7.375% 14-23/04/2021 USD ZINC CAPITAL 8.875% 11-15/05/2018 EUR Germany RAPID HOLDING 6.625% 15-15/11/2020 EUR UNITYMEDIA 5.500% 12-15/09/2022 EUR The Netherlands ADRIA BIDCO BV 7.875% 13-15/11/2020 EUR LGE HOLDCO VI 7.125% 14-15/05/2024 EUR UPC HOLDING BV 6.375% 12-15/09/2022 EUR France TEREOS FIN GROUP 4.250% 13-04/03/2020 EUR THOM EUROPE 7.375% 14-15/07/2019 EUR Italy TELECOM ITALIA 7.375% 09-15/12/2017 GBP Japan SOFTBANK CORP 4.500% 13-15/04/2020 USD Canada CENOVUS ENERGY 5.700% 10-15/10/2019 USD FIRST QUANTUM 7.250% 12-15/10/2019 USD Finland UPM KYMMENE CORP 6.625% 02-23/01/2017 GBP Cayman Islands TRANSOCEAN INC 6.000% 07-15/03/2018 USD Floating rate bonds France HOMEVI 16-15/11/2021 FRN EUR PICARD GROUPE 13-01/08/2019 FRN EUR United Kingdom ARROW GLOBAL FIN 16-01/05/2023 FRN EUR CO-OP GRP HLD 11-08/07/2020 SR GBP United States of America SABINE PASS LIQU 14-01/02/2021 FRN USD Luxembourg WIND ACQUISITION 14-15/07/2020 FRN EUR Total securities portfolio Page 115

118 Bond World Income Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ST CENTURY FOX AMERICA 6.900% /03/2019 USD ABBOTT LABS 2.350% 16-22/11/2019 USD ABBVIE INC 2.000% 13-06/11/2018 USD ACCO BRANDS CORP 6.750% 13-30/04/2020 USD AETNA INC 1.900% 16-07/06/2019 USD ALCOA INC 6.150% 10-15/08/2020 USD ALCOA INC 6.750% 08-15/07/2018 USD ALTRIA GROUP INC 9.250% 09-06/08/2019 USD AMER AXLE & MFG 6.250% 13-15/03/2021 USD AMERICAN TOWER 3.400% 13-15/02/2019 USD AMGEN INC 4.500% 10-15/03/2020 USD AMGEN INC 5.700% 09-01/02/2019 USD ANHEUSER - BUSCH 7.750% 11-15/01/2019 USD ARC PROP OPER LP 3.000% 14-06/02/2019 USD AT&T INC 2.375% 13-27/11/2018 USD AT&T INC 5.500% 08-01/02/2018 USD AT&T INC 5.800% 09-15/02/2019 USD BANK OF AMERICA CORP 2.650% /04/2019 USD BANK OF AMERICA CORP 7.625% /06/2019 USD BERKSHIRE HATHAWAY 0.500% /03/2020 EUR BOSTON PROPERTIES LP 5.875% /10/2019 USD BOSTON SCIENTIFC 6.000% 09-15/01/2020 USD BOSTON SCIENTIFIC 2.650% 13-01/10/2018 USD CDW LLC/CDW FIN 6.000% 14-15/08/2022 USD CEDAR FAIR LP/CA 5.250% 13-15/03/2021 USD CELGENE CORP 2.250% 14-15/05/2019 USD CENTURYLINK INC 5.150% 11-15/06/2017 USD CENTURYLINK INC 5.625% 13-01/04/2020 USD CHARTER COMM OPT 3.579% 16-23/07/2020 USD CHEVRON CORP 1.790% 15-16/11/2018 USD CITIGROUP INC 5.000% 04-02/08/2019 EUR CITIZENS UTIL CO 7.125% 07-15/03/2019 USD CLEAN HARBORS IN 5.250% 12-01/08/2020 USD CMS ENERGY 8.750% 09-15/06/2019 USD COCA-COLA ENTER 2.000% 12-05/12/2019 EUR CONTL RUBBER 0.500% 15-19/02/2019 EUR CVS CAREMARK 2.250% 13-05/12/2018 USD DAVITA INC 5.750% 12-15/08/2022 USD DCP MIDSTREAM OP 2.700% 14-01/04/2019 USD DELL INC 5.875% 09-15/06/2019 USD DISH DBS CORP 5.125% 13-01/05/2020 USD DISH DBS CORP 7.875% 09-01/09/2019 USD DOW CHEMICAL CO 8.550% 09-15/05/2019 USD DTE ENERGY CO 1.500% 16-01/10/2019 USD DUPONT DE NEMOUR 5.750% 09-15/03/2019 USD EDWARDS LIFE 2.875% 13-15/10/2018 USD FEDEX CORP 8.000% 09-15/01/2019 USD FIFTH THIRD BANK 2.300% 14-01/03/2019 USD FTI CONSULTING 6.000% 13-15/11/2022 USD GENERAL MILLS 5.650% 09-15/02/2019 USD GOLDMAN SACHS GP 7.500% 09-15/02/2019 USD HCA HOLDINGS INC 6.250% 12-15/02/2021 USD HISTORIC TW INC 6.875% 98-15/06/2018 USD HONEYWELL INTERNATIONAL 0.650% /02/2020 EUR HSBC USA INC 2.000% 15-07/08/2018 USD HUGHES SATELITE 6.500% 12-15/06/2019 USD INGERSOLL-RAND GL 6.875% 08-15/08/2018 USD ISTAR FINANCIAL 5.000% 14-01/07/2019 USD JM SMUCKER CO 2.500% 15-15/03/2020 USD JP MORGAN CHASE 2.350% 14-28/01/2019 USD JP MORGAN CHASE 6.300% 09-23/04/2019 USD KB HOME 7.250% 06-15/06/2018 USD KRAFT FOODS GROUP 5.375% /02/2020 USD KRAFT FOODS GROUP 6.125% /08/2018 USD KROGER 6.150% 08-15/01/2020 USD LEVEL 3 COMMUNICATIONS INC 5.750% /12/2022 USD LIFEPOINT HOSPIT 5.500% 14-01/12/2021 USD LYONDELLBASELL 5.000% 12-15/04/2019 USD MARRIOTT INTL 3.000% 12-01/03/2019 USD MATTEL INC 2.350% 14-06/05/2019 USD MCKESSON CORP 2.284% 14-15/03/2019 USD METLIFE INC 7.717% 09-15/02/2019 USD MOLSON COORS 1.450% 16-15/07/2019 USD MORGAN STANLEY 2.450% 16-01/02/2019 USD MORGAN STANLEY 2.500% 14-24/01/2019 USD MORGAN STANLEY 5.625% 09-23/09/2019 USD MORGAN STANLEY 6.625% 08-01/04/2018 USD MORGAN STANLEY 7.300% 09-13/05/2019 USD MPT OP PTNR/FINL 6.375% 12-15/02/2022 USD NATIONAL AUSTRALIA BANK/NY 2.000% /01/2019 USD NCR CORP 4.625% 13-15/02/2021 USD NEWELL RUBBERMAID 2.600% /03/2019 USD NORFOLK SOUTHERN 5.900% 09-15/06/2019 USD PG&E CORP 2.400% 14-01/03/2019 USD PHILIP MORRIS INTERNATIONAL 1.750% /03/2020 EUR PRAXAIR INC 1.500% 14-11/03/2020 EUR REYNOLDS AMERICAN 8.125% /06/2019 USD RHP HOTEL PPTY 5.000% 13-15/04/2021 USD RITE AID CORP 6.750% 13-15/06/2021 USD SAIC INC 4.450% 11-01/12/2020 USD SALLY HOLDING / SAL CA 5.750% /06/2022 USD SIMON PROPERTY GP LP 2.375% /10/2020 EUR SMITHFIELD FOODS 6.625% 12-15/08/2022 USD SOUTHERN CO 1.850% 16-01/07/2019 USD STEEL DYNAMICS 5.125% 15-01/10/2021 USD STRYKER CORP 1.300% 13-01/04/2018 USD STRYKER CORP 2.000% 16-08/03/2019 USD SYSCO CORP 5.375% 09-17/03/2019 USD TES LOG LP/CORP 5.500% 16-15/10/2019 USD THERMO FISHER 2.400% 13-01/02/2019 USD TIME WARNER INC 2.100% 14-01/06/2019 USD T-MOBILE USA INC 6.633% 13-28/04/2021 USD TYSON FOODS INC 2.650% 14-15/08/2019 USD US TREASURY N/B 0.750% 15-15/04/2018 USD US TREASURY N/B 0.750% 16-30/04/2018 USD US TREASURY N/B 1.000% 15-15/03/2018 USD US TREASURY N/B 1.000% 15-15/05/2018 USD US TREASURY N/B 2.875% 11-31/03/2018 USD VERIZON COMMUNICATIONS INC 3.650% /09/2018 USD VIACOM INC 2.200% 14-01/04/2019 USD WACHOVIA CORP 5.750% 08-01/02/2018 USD Page 116

119 Bond World Income Expressed in EUR WATSON PHARM INC 6.125% 09-15/08/2019 USD WELLPOINT INC 7.000% 09-15/02/2019 USD WELLS FARGO & CO 2.125% 14-22/04/2019 USD ZEBRA TECHNOLOGIES CORP 7.250% /10/2022 USD ZF NA CAPITAL 2.250% 15-26/04/2019 EUR ZOETIS INC 1.875% 13-01/02/2018 USD France AUCHAN SA 1.750% 14-23/04/2021 EUR AUTOROUTES DU SUD 4.125% /04/2020 EUR AUTOROUTES PARIS 4.875% 11-21/01/2019 EUR AUTOROUTES PARIS 5.125% 12-18/01/2018 EUR BNP PARIBAS 2.400% 13-12/12/2018 USD BNP PARIBAS 2.450% 14-17/03/2019 USD BOUYGUES 3.641% 10-29/10/2019 EUR BOUYGUES 4.000% 10-12/02/2018 EUR BPCE 0.625% 16-20/04/2020 EUR CARREFOUR SA 4.000% 10-09/04/2020 EUR CARREFOUR SA 5.250% 11-24/10/2018 EUR CASINO GUICHARD 4.481% 10-12/11/2018 EUR CIE DE ST GOBAIN 0.000% 16-27/03/2020 EUR DANONE 3.600% 10-23/11/2020 EUR EUTELSAT SA 5.000% 11-14/01/2019 EUR FAURECIA 3.125% 15-15/06/2022 EUR HSBC FRANCE 1.875% 13-16/01/2020 EUR ITALCEMENTI FIN 6.125% 13-21/02/2018 EUR KERING 2.500% 13-15/07/2020 EUR NEXANS SA 4.250% 12-19/03/2018 EUR ORANGE 4.125% 11-23/01/2019 EUR PERNOD-RICARD SA 2.000% 14-22/06/2020 EUR PEUGEOT 6.500% 13-18/01/2019 EUR PPR 3.125% 12-23/04/2019 EUR RCI BANQUE 1.125% 14-30/09/2019 EUR ST GOBAIN 4.000% 10-08/10/2018 EUR TOTAL CAP INTL 2.125% 14-10/01/2019 USD VALEO SA 4.875% 11-11/05/2018 EUR VEOLIA ENVIRONNEMENT 4.247% /01/2021 EUR The Netherlands ADECCO INT FIN 2.750% 13-15/11/2019 EUR ADECCO INT FIN 4.750% 11-13/04/2018 EUR AKZO NOBEL NV 4.000% 11-17/12/2018 EUR BAT HOLDINGS BV 4.000% 10-07/07/2020 EUR DEUTSCHE TEL FIN 6.000% 09-08/07/2019 USD GRUPO ANTOLIN DU 4.750% 14-01/04/2021 EUR HEINEKEN NV 2.125% 12-04/08/2020 EUR HEINEKEN NV 2.500% 12-19/03/2019 EUR IBERDROLA INTL 2.875% 13-11/11/2020 EUR ING BANK NV 1.250% 14-13/12/2019 EUR ING BANK NV 5.250% 99-07/06/2019 EUR KPN NV 7.500% 09-04/02/2019 EUR RWE FINANCE BV 1.875% 13-30/01/2020 EUR SCHAEFFLER FIN 2.500% 15-15/05/2020 EUR SCHAEFFLER FIN 3.500% 14-15/05/2022 EUR SHELL INTL FIN 1.625% 15-10/11/2018 USD TEVA PHARMACEUT 1.700% 16-19/07/2019 USD United Kingdom ANGLO AMERICAN 1.750% 14-03/04/2018 EUR ANGLO AMERICAN 2.500% 12-18/09/2018 EUR AVIS BUDGET FINA 6.000% 13-01/03/2021 EUR BP CAPITAL PLC 2.994% 12-18/02/2019 EUR BRITISH TEL PLC 2.350% 14-14/02/2019 USD COMPASS GROUP 3.125% 12-13/02/2019 EUR CREDIT AGRICOLE 2.375% 13-27/11/2020 EUR CREDIT SUISSE LD 0.625% 14-20/11/2018 EUR CREDIT SUISSE LD 1.375% 14-29/11/2019 EUR CREDIT SUISSE LD 4.750% 09-05/08/2019 EUR IMP BRANDS FIN 4.500% 11-05/07/2018 EUR IMP BRANDS FIN 5.000% 11-02/12/2019 EUR NATIONWIDE BLDG 1.625% 14-03/04/2019 EUR SANTANDER UK PLC 3.050% 13-23/08/2018 USD TESCO CORP TREAS 1.375% 14-01/07/2019 EUR VODAFONE GROUP 5.000% 03-04/06/2018 EUR WPP FINANCE % 15-18/11/2019 EUR Italy I RETE GAS SPA 1.750% 14-16/07/2019 EUR ASSICURAZIONI GENERALI 2.875% /01/2020 EUR ATLANTIA 3.625% 12-30/11/2018 EUR ENEL (ENTNZENEL) 4.875% 12-20/02/2018 EUR ENI SPA 3.500% 10-29/01/2018 EUR ENI SPA 3.750% 12-27/06/2019 EUR ENI SPA 4.125% 09-16/09/2019 EUR ENI SPA 4.250% 12-03/02/2020 EUR LUXOTTICA 3.625% 12-19/03/2019 EUR PIAGGIO & C 4.625% 14-30/04/2021 EUR SALINI COSTRUT 6.125% 13-01/08/2018 EUR SNAM SPA 3.500% 12-13/02/2020 EUR Spain ALMIRALL SA 4.625% 14-01/04/2021 EUR BBVA SENIOR FIN 2.375% 14-22/01/2019 EUR CAMPOFRIO FOOD 3.375% 15-15/03/2022 EUR GAS NATURAL CAP 6.000% 12-27/01/2020 EUR GAS NATURAL CAP 6.375% 09-09/07/2019 EUR NH HOTELES SA 6.875% 13-15/11/2019 EUR TELEFONICA EMIS 2.736% 13-29/05/2019 EUR TELEFONICA EMIS 4.693% 09-11/11/2019 EUR TELEFONICA EMIS 4.710% 12-20/01/2020 EUR TELEFONICA EMIS 4.797% 12-21/02/2018 EUR Germany COMMERZBANK AG 0.625% 15-14/03/2019 EUR CONTINENTAL AG 3.125% 13-09/09/2020 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR DAIMLER AG 0.500% 16-09/09/2019 EUR DAIMLER AG 1.750% 12-21/01/2020 EUR DAIMLER AG 2.000% 13-07/04/2020 EUR METRO AG 3.375% 12-01/03/2019 EUR THYSSENKRUPP 4.000% 13-27/08/2018 EUR UNITYMEDIA 5.500% 12-15/09/2022 EUR VOLKSWAGEN LEAS 3.250% 11-10/05/2018 EUR Luxembourg ACTAVIS FUNDING 2.450% 14-15/06/2019 USD ARCELORMITTAL 3.000% 14-25/03/2019 EUR ARCELORMITTAL 5.750% 12-29/03/2018 EUR BMBG BOND FINCE 3.000% 16-15/06/2021 EUR CNH IND FIN 2.750% 14-18/03/2019 EUR CNH IND FIN 6.250% 11-09/03/2018 EUR FIAT FIN & TRADE 6.625% 13-15/03/2018 EUR HEIDELCEMENT FIN 9.500% 11-15/12/2018 EUR TYCO ELECTRONICS 2.375% 13-17/12/2018 USD Page 117

120 Bond World Income Expressed in EUR Canada CANADIAN NATL RR 5.550% 09-01/03/2019 USD CANADIAN PAC RR 7.250% 09-15/05/2019 USD ROYAL BANK OF CANADA 2.000% /12/2018 USD ROYAL BANK OF CANADA 2.150% /03/2019 USD TORONTO DOMINION BANK 1.950% /01/2019 USD TORONTO DOMINION BANK 2.125% /07/2019 USD TORONTO DOMINION BANK 2.625% /09/2018 USD Australia BHP BILLITON FIN 2.125% 12-29/11/2018 EUR NATIONAL AUSTRALIA BANK 4.000% /07/2020 EUR Denmark CARLSBERG BREW 2.625% 12-03/07/2019 EUR Norway SPAREBANK 1 SMN 1.500% 14-20/05/2019 EUR STATOILHYDRO ASA 5.250% 09-15/04/2019 USD Sweden SKF AB 1.875% 12-11/09/2019 EUR VOLVO TREAS AB 2.375% 12-26/11/2019 EUR Finland FORTUM OYJ 6.000% 09-20/03/2019 EUR NOKIA CORPORATION 6.750% 09-04/02/2019 EUR Ireland GE CAP EUR FUND 6.000% 08-15/01/2019 EUR SMURFIT KAPPA AQ 5.125% 12-15/09/2018 EUR Japan SUMITOMO MITSUI 1.950% 15-23/07/2018 USD SUMITOMO MITSUI 2.250% 14-11/07/2019 USD Belgium ONTEX GROUP 4.750% 14-15/11/2021 EUR Floating rate bonds United States of America REVLON CONS PROD 13-15/02/2021 FRN USD Money Market Instruments France BOLLORE 0.000% 16/01/2017 BT EUR ICADE 0.000% 09/01/2017 BT EUR MICHELIN-MICHELIN ET CO 0.000% /01/2017 BT EUR ODET (FINANCIERE DE L) 0.000% /03/2017 BT EUR SEB SA 0.000% 06/01/2017 BT EUR SOPRA STERIA GROUP 0.000% /01/2017 BT EUR VEOLIA ENVIRONNEMENT SA 0.000% /01/2017 BT EUR The Netherlands AVERY DENNISON 0.000% 17/01/2017 CP EUR AVERY DENNISON 0.000% 23/01/2017 CP EUR United Kingdom AON PLC 0.000% 18/01/2017 CP EUR United States of America FORTIVE CORP 0.000% 09/01/2017 CP EUR Germany THYSSENKRUPP 0.000% 30/03/2017 CP EUR Shares/Units in investment funds France BNP PARIBAS AM KLE EONIA PRIME FCP DIS EUR T Q FI HIGH VOL PARTS SUPER X EUR Luxembourg PARWORLD ABSOLUTE RETURN EQUITY NEUTRAL - I - CAP EUR Total securities portfolio Page 118

121 Bond World Inflation-Linked Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America US TSY I/L STOCK 2.500% 09-15/01/2029 USD US TSY INFL IX N/B 0.125% 13-15/01/2023 USD US TSY INFL IX N/B 0.125% 14-15/07/2024 USD US TSY INFL IX N/B 0.125% 16-15/04/2021 USD US TSY INFL IX N/B 0.125% 16-15/07/2026 USD US TSY INFL IX N/B 0.250% 15-15/01/2025 USD US TSY INFL IX N/B 0.375% 13-15/07/2023 USD US TSY INFL IX N/B 0.625% 14-15/01/2024 USD US TSY INFL IX N/B 0.625% 16-15/01/2026 USD US TSY INFL IX N/B 0.750% 12-15/02/2042 USD US TSY INFL IX N/B 1.000% 16-15/02/2046 USD US TSY INFL IX N/B 1.375% 14-15/02/2044 USD US TSY INFL IX N/B 1.750% 08-15/01/2028 USD US TSY INFL IX N/B 2.125% 10-15/02/2040 USD US TSY INFL IX N/B 2.125% 11-15/02/2041 USD US TSY INFL IX N/B 2.375% 04-15/01/2025 USD US TSY INFL IX N/B 2.375% 07-15/01/2027 USD US TSY INFL IX N/B 3.625%98-15/04/2028 USD US TSY INFL IX N/B 3.875% 99-15/04/2029 USD United Kingdom NETWRK RAIL INFR 1.375% 07-22/11/2037 GBP UK TSY I/L GILT 0.125% 11-22/03/2029 GBP UK TSY I/L GILT 0.125% 12-22/03/2024 GBP UK TSY I/L GILT 0.125% 12-22/03/2044 GBP UK TSY I/L GILT 0.125% 13-22/03/2068 GBP UK TSY I/L GILT 0.125% 15-22/03/2026 GBP UK TSY I/L GILT 0.250% 12-22/03/2052 GBP UK TSY I/L GILT 0.500% 09-22/03/2050 GBP UK TSY I/L GILT 0.625% 09-22/11/2042 GBP UK TSY I/L GILT 0.750% 07-22/11/2047 GBP UK TSY I/L GILT 0.750% 11-22/03/2034 GBP UK TSY I/L GILT 1.250% 05-22/11/2055 GBP UK TSY I/L GILT 1.250% 06-22/11/2027 GBP UK TSY I/L GILT 1.250% 08-22/11/2032 GBP UK TSY I/L STOCK 0.125% 15-22/03/2046 GBP UK TSY I/L STOCK 6.287% 86-17/07/2024 GBP France FRANCE O.A.T % 16-01/03/2021 EUR FRANCE O.A.T % 16-25/07/2047 EUR FRANCE O.A.T. I/L 0.250% 13-25/07/2024 EUR FRANCE O.A.T.I/L 0.100% 15-01/03/2025 EUR FRANCE O.A.T.I/L 1.100% 10-25/07/2022 EUR FRANCE O.A.T.I/L 1.800% 07-25/07/2040 EUR FRANCE O.A.T.I/L 2.250% 04-25/07/2020 EUR FRANCE O.A.T.I/L 3.150% 02-25/07/2032 EUR FRANCE O.A.T.I/L 3.400% 99-25/07/2029 EUR Italy ITALY BTPS I/L 0.100% 16-15/05/2022 EUR ITALY BTPS I/L 2.100% 10-15/09/2021 EUR ITALY BTPS I/L 2.350% 08-15/09/2019 EUR ITALY BTPS I/L 2.350% 14-15/09/2024 EUR ITALY BTPS I/L 2.550% 09-15/09/2041 EUR Japan JAPAN I/L-10YR 0.100% 13-10/09/2023 JPY JAPAN I/L-10YR 0.100% 14-10/03/2024 JPY JAPAN I/L-10YR 0.100% 14-10/09/2024 JPY JAPAN I/L-10YR 0.100% 15-10/03/2025 JPY JAPAN I/L-10YR 0.100% 16-10/03/2026 JPY JAPAN I/L-10YR 1.400% 08-10/06/2018 JPY Canada CANADA GOVT I/L 1.250% 13-01/12/2047 CAD CANADA GOVT I/L 1.500% 10-01/12/2044 CAD CANADA GOVT I/L 2.000% 07-01/12/2041 CAD CANADA GOVT I/L 3.000% 03-01/12/2036 CAD CANADA GOVT I/L 4.000% 99-01/12/2031 CAD CANADA GOVT I/L 4.250% 91-01/12/2021 CAD CANADA GOVT I/L 4.250% 95-01/12/2026 CAD Australia AUSTRALIAN GOVT % 16-21/03/2047 AUD AUSTRALIAN I/L 1.250% 12-21/02/2022 AUD AUSTRALIAN I/L 2.000% 13-21/08/2035 AUD AUSTRALIAN I/L 3.000% 09-20/09/2025 AUD Spain SPAIN I/L BOND 0.550% 14-30/11/2019 EUR SPAIN I/L BOND 1.000% 15-30/11/2030 EUR Sweden SWEDEN I/L 0.125% 16-01/06/2026 SEK SWEDEN I/L 4.297% 99-01/12/2028 SEK New Zealand NEW ZEALAND I/L 2.000% /09/2025 FLAT NEW ZEALAND I/L 3.000% /09/2030 FLAT NZD NZD Denmark DENMARK I/L GOVT 0.100% 12-15/11/2023 DKK Germany DEUTSCHLAND I/L 0.500% 14-15/04/2030 EUR Floating rate bonds United Kingdom UK TSY I/L STOCK 2.829% 02-26/01/2035 GBP UK TSY I/L STOCK 7.322% 83-16/04/2020 GBP UK TSY I/L STOCK 7.633% 92-22/07/2030 GBP Total securities portfolio Page 119

122 Climate Impact Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ADVANCED DRAINAGE SYSTEMS INC USD AMERICAN WATER WORKS CO INC USD BADGER METER INC USD BORGWARNER INC USD CALIFORNIA WATER SERVICE GRP USD CLARCOR INC USD CLEAN HARBORS INC USD DONALDSON CO INC USD FRANKLIN ELECTRIC CO INC USD GENERAC HOLDINGS INC USD ITRON INC USD LKQ CORP USD ORMAT TECHNOLOGIES INC USD POWER INTEGRATIONS INC USD RAYONIER INC USD SMITH (A.O.) CORP USD SUNPOWER CORP USD TRIMBLE INC USD UNITED NATURAL FOODS INC USD WATTS WATER TECHNOLOGIES - A USD XYLEM INC USD China ENN ENERGY HOLDINGS LTD HKD HOLLYSYS AUTOMATION TECHNOLO USD HUANENG RENEWABLES CORP - H HKD TRINA SOLAR LIMITED - ADR USD XINYI SOLAR HOLDINGS LTD HKD ZHUZHOU CRRC TIMES ELECTRIC HKD United Kingdom DIALIGHT PLC GBP DS SMITH PLC GBP PORVAIR PLC GBP RICARDO PLC GBP RPS GROUP PLC GBP SPIRAX-SARCO ENGINEERING PLC GBP Japan DAISEKI CO LTD JPY HORIBA LTD JPY RINNAI CORP JPY The Netherlands ARCADIS NV EUR SENSATA TECHNOLOGIES HOLDING USD Norway LEROEY SEAFOOD GROUP ASA NOK TOMRA SYSTEMS ASA NOK Austria LENZING AG EUR Spain EDP RENOVAVEIS SA EUR Taiwan ADVANTECH CO LTD TWD Australia BRAMBLES LTD AUD South Korea COWAY CO LTD KRW Luxembourg EUROFINS SCIENTIFIC EUR Finland KEMIRA OYJ EUR Hong Kong BEIJING ENTERPRISES WATER GR HKD Switzerland LEM HOLDING SA - REG CHF Sweden NIBE INDUSTRIER AB - B SEK Thailand DELTA ELECTRONICS THAI-FORGN THB Brazil CIA SANEAMENTO BASICO DE - ADR USD Belgium UMICORE EUR Germany NORMA GROUP SE EUR Denmark VESTAS WIND SYSTEMS A/S DKK Canada NEWALTA CORP CAD PURE TECHNOLOGIES LTD CAD Ireland KINGSPAN GROUP PLC EUR Total securities portfolio Page 120

123 Commodities Expressed in USD Money Market Instruments Shares/Units in investment funds France ACOSS 0.000% 17/01/2017 CP USD BANQUE POSTALE 0.000% 13/01/2017 CD USD BPCE SA 0.000% 13/01/2017 CD USD CREDIT AGRICOLE CORPORA 0.000% /03/2017 CD USD CREDIT AGRICOLE CORPORA 0.000% /01/2017 CD USD CREDIT AGRICOLE SA 0.000% /02/2017 CD USD CREDIT INDUSTRIEL 0.945% 24/02/2017 CD USD CREDIT MUTUEL ARKEA SA 0.000% /01/2017 BT USD NATIXIS SA 0.000% 16/02/2017 BT USD SNCF MOBILITIES 0.000% 19/01/2017 CP USD SOCIETE GENERALE SA 0.000% /02/2017 CD USD Germany ALLIANZ SE 0.000% 27/01/2017 CP USD DEKABANK DEUTSCHE GIRO 0.000% /03/2017 CP USD KFW 0.000% 17/01/2017 CP USD KFW BANKENGRUPPE 0.000% /01/2017 CP USD LANDESBANK BADEN-WUERTT 0.000% /02/2017 CP USD LANDESKREDITBANK BADEN 0.000% /01/2017 CP USD NRW BANK 0.000% 31/01/2017 CP USD Australia COMMONWEALTH OF AUSTRALIA 0.000% /02/2017 CP USD MACQUARIE BANK LTD 0.000% /02/2017 CP USD MIZUHO BANK LTD/SYDNEY 0.000% /01/2017 CD USD Japan DEVELOPMENT BANK OF JAPAN 0.000% /01/2017 CP USD SUMITOMO MITSUI BANKING 0.000% /02/2017 CP USD Belgium KBC BANK NV 0.000% 13/01/2017 CD USD LVMH FINANCE BELGIQUE 0.000% /02/2017 CP USD The Netherlands ABN AMRO BANK NV 0.000% 10/01/2017 CP USD SCHLUMBERGER FINANCE 0.000% /02/2017 CP USD Luxembourg DZ PRIVATBANK SA 0.000% 18/01/2017 CP USD Austria OESTERREICHISCHE KONTR 0.000% 31/01/2017 CP USD United Kingdom ABBEY NATIONAL TREASURY 0.000% 06/03/2017 CP USD Denmark NYKREDIT BANK A/S 0.000% 22/02/2017 CP USD Canada THE TORONTO-DOMINION B 0.000% 22/02/2017 CP USD Finland OP CORPORATE BANK PLC 0.000% /02/2017 CP USD Luxembourg BNP PARIBAS INSTICASH USD - I - CAP USD Total securities portfolio Page 121

124 Convertible Bond Asia Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Convertible bonds China CHINA RAIL CONS 0.000% 16-29/01/2021 CV USD CRRC CORP LTD 0.000% 16-05/02/2021 CV USD ENN ENERGY HOLDINGS 0.000% /02/2018 CV USD FUFENG GROUP 3.000% 13-27/11/2018 CV CNY HAITIAN INTL HOL 2.000% 14-13/02/2019 CV USD KINGSOFT CORP LTD 1.250% /04/2019 CV HKD SEMICONDUCTOR MANUFACTORING % 13-07/11/2018 CV USD SEMICONDUCTOR MANUFACTORING % 16-07/07/2022 CV USD SHENZHOU INTERNATIONAL 0.500% /06/2019 CV HKD Hong Kong ASM PACIFIC TECHNOLOGY 2.000% /03/2019 CV HKD BAGAN CAPITAL 0.000% 16-23/09/2021 CV USD BAOSTEEL HONG KONG 0.000% /12/2018 CV USD CHINA YANGTZE PW 0.000% /11/2021 CV USD CNPC HONG KG LTD 1.625% /07/2019 CV CNY HAITONG INTL SEC 0.000% /10/2021 CV HKD JOHNSON ELECTRIC HOLDINGS 1.000% /04/2021 CV USD PB ISSUER NO % 15-03/07/2021 CV USD Taiwan ADVANCED SEMICONDUCTOR 0.000% /09/2018 CV USD TPK HOLDING CO 0.000% 15-08/04/2020 CV USD UNITED MICROELECTRONICS 0.000% /05/2020 CV USD ZHEN DING TECH 0.000% 14-26/06/2019 CV USD Malaysia CAHAYA CAPITAL 0.000% 14-18/09/2021 CV USD INDAH CAPITAL 0.000% 13-24/10/2018 CV SGD Cayman Islands CHINA OVERSEAS FIN 5.000% /01/2023 CV USD Singapore CAPITACOMMERCIAL 2.500% /09/2017 CV SGD CAPITALAND LTD 1.850% 13-19/06/2020 CV SGD CAPITALAND LTD 1.950% 13-17/10/2023 CV SGD CAPITALAND LTD 2.800% 15-08/06/2025 CV SGD SUNTEC REIT 1.750% 16-05/09/2021 CV SGD Thailand BANGKOK DUSIT MED SERVICE 0.000% /09/2019 CV THB Philippines AYC FINANCE LTD 0.500% 14-02/05/2019 CV USD Japan KAWASAKI KISEN 0.000% 13-26/09/2018 CV JPY YAMAGUCHI FIN GP 15-26/03/2020 CV FRN USD British Virgin Islands CROTONA ASSETS 4.000% 14-14/04/2019 CV USD South Korea KAKAO CORP 0.000% 16-11/05/2021 CV KRW India LARSEN & TOUBRO 0.675% /10/2019 CV USD Total securities portfolio Page 122

125 Convertible Bond Europe Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Convertible bonds France AIRBUS GROUP NV 0.000% /07/2022 CV EUR AIRBUS GROUP SE 0.000% 16-14/06/2021 CV EUR CREDIT AGRICOLE SA 0.000% /10/2019 CV EUR FONCIERE DES REGIONS 0.875% /04/2019 CV FLAT EUR INGENICO GROUP 0.000% 15-26/06/2022 CV EUR LVMH MOET HENNES 0.000% 16-16/02/ CV FLAT USD MICHELIN FRANCE 0.000% 07-01/01/2017 CV EUR SAFRAN SA 0.000% 16-31/12/2020 CV FLAT EUR SUEZ ENVIRONNEMENT 0.000% /02/2020 CV FLAT EUR TECHNIP 0.875% 16-25/01/2021 CV EUR TOTAL SA 0.500% 15-02/12/2022 CV USD UBISOFT ENTERTAINMENT 0.000% /09/2021 CV EUR UNIBAIL-RODAMCO 0.000% /07/2021 CV EUR VALEO SA 0.000% 16-16/06/2021 CV USD WENDEL SA 0.000% 16-31/07/2019 CV EUR The Netherlands BRENNTAG FINANCE 1.875% /12/2022 CV USD CEZ MH BV 0.000% 14-04/08/2017 CV EUR QIAGEN NV 0.875% 14-19/03/2021 CV USD SIEMENS FINAN 1.050% 15-16/08/2017 CV USD SIEMENS FINAN 1.650% 15-16/08/2019 CV USD Germany ADIDAS AG 0.250% 12-14/06/2019 CV EUR DEUTSCHE POST AG 0.600% /12/2019 CV EUR DEUTSCHE WOHNEN 0.875% /09/2021 CV EUR FRESENIUS SE 0.000% 14-24/09/2019 CV EUR HANIEL FINANCE 0.000% 15-12/05/2020 CV EUR RAG STIFTUNG 0.000% 14-31/12/2018 CV EUR United Kingdom BP CAPITAL PLC 1.000% 16-28/04/2023 CV GBP INMARSAT 3.875% 16-09/09/2023 CV USD INTL CONSOLIDATED 0.250% /11/2020 CV EUR INTL CONSOLIDATED 0.625% /11/2022 CV EUR VODAFONE GROUP 0.000% /11/2020 CV GBP Austria BUWOG AG 0.000% 16-09/09/2021 CV EUR STEINHOFF FINANC 1.250% /08/2022 CV EUR STEINHOFF FINANC 1.250% /10/2023 CV EUR Mexico AMERICA MOVIL SA 0.000% /05/2020 CV EUR Norway MARINE HARVEST 0.125% 15-05/11/2020 CV EUR TELENOR EAST HOL 0.250% /09/2019 CV USD Portugal PARPUBLICA 5.250% 10-28/09/2017 CV EUR Switzerland STMICROELECTRONICS 0.000% /07/2019 CV USD SWISS LIFE HOLDING 0.000% /12/2020 CV CHF Spain ACCIONA SA 3.000% 14-30/01/2019 CV EUR ACS ACTIVIDADES 1.625% 14-27/03/2019 CV EUR ACS ACTIVIDADES 2.625% 13-22/10/2018 CV EUR Sweden INDUSTRIVARDEN 0.000% 14-15/05/2019 CV SEK INDUSTRIVARDEN 1.875% 11-27/02/2017 CV EUR Hungary HUNGARIAN STATE 3.375% /04/2019 CV EUR Italy BENI STABILI 2.625% 13-17/04/2019 CV EUR ENI SPA 0.000% 16-13/04/2022 CV EUR TELECOM ITALIA 1.125% 15-26/03/2022 CV EUR Jersey Island BRITISH LAND CO 1.500% 12-10/09/2017 CV GBP BRITISH LND JER 0.000% 15-09/06/2020 CV GBP Luxembourg CITIGROUP GLOB L 0.500% /08/2023 CV EUR GBL VERWALTUN 1.250% 13-07/02/2017 CV EUR Finland SOLIDIUM OY 0.000% 14-04/09/2018 CV EUR Cyprus AROUNDTOWN PROPERTY 3.000% /05/2020 CV EUR Belgium BEKAERT SA 0.000% 16-09/06/2021 CV EUR United States of America NATIONAL GRID NA INC 0.900% /11/2020 CV GBP Shares/Units in investment funds France BNP PARIBAS CASH INVEST - CLASSIC EUR Luxembourg PARWORLD FLEXIBLE CONVERTIBLE BOND FUND - X - CAP USD Total securities portfolio Page 123

126 Convertible Bond Europe Small Cap Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France SEB SA 0.000% 16-17/11/2021 EUR Convertible bonds The Netherlands AMPLITER NV 2.875% 13-14/11/2018 CV EUR CEZ MH BV 0.000% 14-04/08/2017 CV EUR FIELDLINK NV 3.750% 16-22/12/2021 CV EUR QIAGEN NV 0.875% 14-19/03/2021 CV USD ROYAL BAM GROUP 3.500% /06/2021 CV EUR SALZGITTER FIN B 0.000% 15-05/06/2022 CV EUR SONAE INVSMNTS 1.625% 14-11/06/2019 CV EUR WERELDHAVE NV 1.000% 14-22/05/2019 CV EUR France AXA SA 3.750% 00-01/01/2017 CV FLAT EUR BIM 2.500% 15-13/11/2020 CV FLAT EUR CREDIT AGRICOLE SA 0.000% /10/2019 CV EUR NEOPOST SA 15-29/12/2049 CV FRN FLAT EUR NEXANS SA 2.500% 12-01/01/2019 CV FLAT EUR NEXITY 0.125% 16-01/01/2023 CV FLAT EUR ORPAR 0.000% 15-15/07/2019 CV EUR REMY COINTREAU 0.125% 16-07/09/ CV FLAT EUR Italy AZIMUT HOLDING 2.125% 13-25/11/2020 CV EUR BENI STABILI 0.875% 15-31/01/2021 CV EUR BUZZI UNICEM 1.375% 13-17/07/2019 CV EUR FCT HOLDING SRL 0.625% 15-30/11/2020 CV EUR GRUPPO ESPRESSO 2.625% /04/2019 CV EUR SAFILO GROUP 1.250% 14-22/05/2019 CV EUR SOGEFI 2.000% 14-21/05/2021 CV EUR Germany AURELIUS SE 1.000% 15-01/12/2020 CV EUR DRILLISCH AG 0.750% 13-12/12/2018 CV EUR HEIDELBERG DRUCK 8.500% /07/2017 CV EUR SAF - HOLLAND SA 1.000% 14-12/09/2020 CV EUR SGL CARBON SE 2.750% 12-25/01/2018 CV EUR Switzerland BASILEA PHARMACEUTICA 2.750% /12/2022 CV CHF BKW AG 0.125% 14-30/09/2020 CV CHF IMPLENIA 0.500% 15-30/06/2022 CV CHF SCHINDLER HOLDING 0.375% /06/2017 CV CHF SWISS PRIME SITE 0.250% 16-16/06/2023 CV CHF Spain ACS ACTIVIDADES 1.625% 14-27/03/2019 CV EUR CO ECONOMICA 1.000% 16-01/12/2023 CV EUR INDRA SISTEMAS 1.750% 13-17/10/2018 CV EUR NH HOTELES SA 4.000% 13-08/11/2018 CV EUR Jersey Island CARILLION FNCE 2.500% 14-19/12/2019 CV GBP GREAT PORTLAND 1.000% 13-10/09/2018 CV GBP HELICAL BAR 4.000% 14-17/06/2019 CV GBP ST MODWEN PROP 2.875% /03/2019 CV GBP UNITE JERSEY 2.500% 13-10/10/2018 CV GBP Belgium ABLYNX NV 3.250% 15-27/05/2020 CV EUR ECONOCOM GROUP 1.500% 14-15/01/ CV FLAT EUR Bermuda BW GROUP LTD 1.750% 14-10/09/2019 CV USD Sweden ELEKTA AB 2.750% 12-25/04/2017 CV SEK RECIPHARM 2.750% 16-06/10/2021 CV SEK Cyprus AROUNDTOWN PROPERTY 1.500% /01/2021 CV EUR United Kingdom HANSTEEN JERSEY 4.000% /07/2018 CV EUR Ireland GLANBIA COOP SOC 1.375% /06/2021 CV EUR Luxembourg KLOECKNER & CO 2.000% 16-08/09/2023 CV EUR Austria BUWOG AG 0.000% 16-09/09/2021 CV EUR Finland OUTOKUMPU OYJ 3.250% 15-26/02/2020 CV EUR Shares/Units in investment funds France BNP PARIBAS CASH INVEST - CLASSIC EUR Luxembourg PARWORLD FLEXIBLE CONVERTIBLE BOND 1.00 FUND - X - CAP USD Total securities portfolio Page 124

127 Convertible Bond World Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Convertible bonds United States of America ADVANCED MICRO 2.125% 16-01/09/2026 CV USD AKAMAI TECH 0.000% 14-15/02/2019 CV USD BLACKHAWK NETWOR 1.500% /01/2022 CV USD CHESAPEAKE ENRGY 5.500% /09/2026 CV USD CITRIX SYSTEMS 0.500% 14-15/04/2019 CV USD CYPRESS SEMICON 4.500% /01/2022 CV USD DISH NETWORK 3.375% 16-15/08/2026 CV USD DYCOM INDS 0.750% 15-15/09/2021 CV USD EURONET WORLDWID 1.500% /10/2044 CV USD EXTRA SPACE STORAGE 3.125% /10/2035 CV USD HOLOGIC INC 2.000% 12-01/03/2042 CV SR USD ILLUMINA INC 0.000% 14-15/06/2019 CV USD ILLUMINA INC 0.500% 14-15/06/2021 CV USD INTEL CORP 2.950% 06-15/12/2035 CV USD INTEL CORP 3.250% 09-01/08/2039 CV USD LIBERTY INTERACT 1.750% /09/2046 CV USD LIBERTY MEDIA 1.375% 13-15/10/2023 CV USD MICROCHIP TECHNOLOGY 1.625% /02/2025 CV USD MICRON TECH 3.000% 13-15/11/2043 CV USD NUANCE COMMUNIC 1.000% /12/2035 CV USD NUVASIVE INC 2.250% 16-15/03/2021 CV USD ON SEMICONDUCTOR 1.000% /12/2020 CV USD PRICELINE.COM 0.350% 13-15/06/2020 CV USD PRICELINE.COM 1.000% 12-15/03/2018 CV USD RED HAT INC 0.250% 14-01/10/2019 CV USD SALESFORCE.COM 0.250% /04/2018 CV USD SERVICENOW INC 0.000% 13-01/11/2018 CV USD STARWOOD PROP TR 4.550% /03/2018 CV USD SUNPOWER CORP 0.875% 14-01/06/2021 CV USD TESLA MOTORS INC 0.250% /03/2019 CV USD TESLA MOTORS INC 1.250% /03/2021 CV USD YAHOO INC 0.000% 13-01/12/2018 CV USD Japan ASICS CORP 0.000% 14-01/03/2019 CV JPY CHUGOKU ELEC PWR 0.000% /03/2020 CV JPY JAPAN AIRPORT 0.000% 15-06/03/2020 CV JPY KAWASAKI KISEN 0.000% 13-26/09/2018 CV JPY LIXIL GROUP CORP 0.000% /03/2022 CV JPY SONY CORP 0.000% 15-30/09/2022 CV JPY SUZUKI MOTOR CORP 0.000% /03/2021 CV JPY SUZUKI MOTOR CORP 0.000% /03/2023 CV JPY TAKASHIMAYA CO 0.000% 13-11/12/2020 CV JPY TERUMO CORP 0.000% 14-06/12/2021 CV JPY TOHOKU ELECTRIC POWER CO 0.000% /12/2018 CV JPY TOHOKU ELECTRIC POWER CO 0.000% /12/2020 CV JPY TORAY INDUSTRIES 0.000% /08/2019 CV JPY YAMADA DENKI CO 0.000% /06/2019 CV JPY YAMAGUCHI FIN GP 0.000% /12/2018 CV USD France AIRBUS GROUP NV 0.000% /07/2022 CV EUR AIRBUS GROUP SE 0.000% /06/2021 CV EUR FONCIERE DES REGIONS 0.875% /04/2019 CV FLAT EUR LVMH MOET HENNES 0.000% 16-16/02/ CV FLAT USD SAFRAN SA 0.000% 16-31/12/2020 CV FLAT EUR SUEZ ENVIRONNEMENT 0.000% /02/2020 CV FLAT EUR TECHNIP 0.875% 16-25/01/2021 CV EUR TOTAL SA 0.500% 15-02/12/2022 CV USD UBISOFT ENTERTAINMENT 0.000% /09/2021 CV EUR UNIBAIL-RODAMCO 0.000% /01/2022 CV EUR VALEO SA 0.000% 16-16/06/2021 CV USD WENDEL SA 0.000% 16-31/07/2019 CV EUR The Netherlands BRENNTAG FINANCE 1.875% /12/2022 CV USD CEZ MH BV 0.000% 14-04/08/2017 CV EUR NXP SEMICONDUCTORS 1.000% /12/2019 CV USD SIEMENS FINAN 1.050% 15-16/08/2017 CV USD SIEMENS FINAN 1.650% 15-16/08/2019 CV USD China CRRC CORP LTD 0.000% 16-05/02/2021 CV USD CTRIP.COM INT 1.000% 15-01/07/2020 CV USD CTRIP.COM INT 1.990% 15-01/07/2025 CV USD VIPSHOP HOLDING 1.500% /03/2019 CV USD Mexico AMERICA MOVIL SA 0.000% /05/2020 CV EUR CEMEX SAB 3.720% 15-15/03/2020 CV USD CEMEX SAB 3.750% 11-15/03/2018 CV USD Germany FRESENIUS SE 0.000% 14-24/09/2019 CV EUR HANIEL FINANCE 0.000% 15-12/05/2020 CV EUR MTU AERO ENGINES 0.125% /05/2023 CV EUR RAG STIFTUNG 0.000% 14-31/12/2018 CV EUR United Kingdom BP CAPITAL PLC 1.000% 16-28/04/2023 CV GBP INMARSAT 3.875% 16-09/09/2023 CV USD VODAFONE GROUP 0.000% /11/2020 CV GBP Austria STEINHOFF FINANC 1.250% /10/2023 CV EUR Switzerland STMICROELECTRONICS 0.000% /07/2019 CV USD SWISS LIFE HOLDING 0.000% /12/2020 CV CHF United Arab Emirates DP WORLD LTD 1.750% 14-19/06/2024 CV USD NATIONAL BANK OF ABU DHABI 1.000% /03/2018 CV USD Norway MARINE HARVEST 0.125% 15-05/11/2020 CV EUR TELENOR EAST HOL 0.250% /09/2019 CV USD Page 125

128 Convertible Bond World Expressed in USD Spain ACS ACTIVIDADES 1.625% 14-27/03/2019 CV EUR CO ECONOMICA 1.000% 16-01/12/2023 CV EUR Cyprus AROUNDTOWN PROPERTY 3.000% /05/2020 CV EUR Portugal PARPUBLICA 5.250% 10-28/09/2017 CV EUR Hungary HUNGARIAN STATE 3.375% /04/2019 CV EUR Hong Kong ASM PACIFIC TECHNOLOGY 2.000% /03/2019 CV HKD CNPC HONG KG LTD 1.625% /07/2019 CV CNY Cayman Islands CHINA OVERSEAS FIN 5.000% /01/2023 CV USD Taiwan ZHEN DING TECH 0.000% 14-26/06/2019 CV USD Malaysia INDAH CAPITAL 0.000% 13-24/10/2018 CV SGD Israel TEVA PHARMACEUTICAL 7.000% /12/2018 CV FLAT USD Jersey Island BRITISH LAND CO 1.500% 12-10/09/2017 CV GBP ENSCO JERSEY 3.000% 16-31/01/2024 CV USD Ireland JAZZ INVT I LTD 1.875% 14-15/08/2021 CV USD Belgium BEKAERT SA 0.000% 16-09/06/2021 CV EUR India LARSEN & TOUBRO 0.675% /10/2019 CV USD Bermuda WEATHERFORD BERM 5.875% /07/2021 CV USD Other transferable securities Convertible bonds Jersey Island WRIGHT MEDICAL 2.000% NOTES /02/2020 CV USD United States of America ISIS PHARMACEUTICALS 1.000% /11/2021 CV USD Luxembourg ESPIRITO SANTO 5.050% 05-15/11/2025 CV SR DFLT EUR Shares/Units in investment funds Luxembourg PARWORLD FLEXIBLE CONVERTIBLE BOND FUND - X - CAP USD United States of America SPDR BLOOMBERG BARCLAYS CONVER USD Total securities portfolio Page 126

129 Covered Bond Euro Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ARKEA HL 0.625% 15-30/09/2022 EUR BPCE SFH 0.375% 16-10/02/2023 EUR BPCE SFH 0.500% 15-11/10/2022 EUR BPCE SFH 1.500% 14-30/01/2020 EUR BPCE SFH 2.125% 13-17/09/2020 EUR BPCE SFH 4.000% 11-23/03/2022 EUR CAISSE FR DE FINANCEMENT 0.375% /06/2025 EUR CAISSE FR DE FINANCEMENT 0.625% /04/2026 EUR CAISSE REFIN L HAB 3.600% 11-13/09/2021 EUR CAISSE REFIN L HAB 3.600% 12-08/03/2024 EUR CAISSE REFIN L HAB 4.000% 11-10/01/2022 EUR CAISSE REFIN L HAB 4.000% 12-17/06/2022 EUR CIE FINANCEMENT FONCIER 0.250% /03/2022 EUR CIE FINANCEMENT FONCIER 0.375% /10/2020 EUR CIE FINANCEMENT FONCIER 0.625% /02/2023 EUR CIE FINANCEMENT FONCIER 4.000% /10/2025 EUR CM - CIC COVERED B 3.125% 10-09/09/2020 EUR CREDIT AGRICOLE HOME 0.125% /08/2020 EUR CREDIT AGRICOLE HOME 0.375% /03/2023 EUR CREDIT AGRICOLE HOME L 0.625% /11/2022 EUR CREDIT AGRICOLE HOME L 0.625% /09/2023 EUR CREDIT MUTUEL ARKEA 4.500% /04/2021 EUR CREDIT MUTUEL- CIC 0.375% 16-12/09/2022 EUR DEXIA MUNI AGENCY 5.375% 09-08/07/2024 EUR FRANCE O.A.T % 16-25/11/2026 EUR HSBC SFH 1.875% 13-28/10/2020 EUR LA BANQUE POSTALE 0.500% 16-18/01/2023 EUR LA BANQUE POSTALE 1.875% 13-11/09/2020 EUR LA BANQUE POSTALE 2.375% 14-15/01/2024 EUR Spain BANCO BILBAO VIZCAYA 0.625% /03/2023 EUR BANCO BILBAO VIZCAYA 3.500% /10/2020 EUR BANCO BILBAO VIZCAYA 3.500% /01/2021 EUR BANCO BILBAO VIZCAYA 3.875% /01/2023 EUR BANCO BILBAO VIZCAYA 4.000% /02/2025 EUR BANCO SANTANDER 1.125% 14-27/11/2024 EUR BANCO SANTANDER 3.625% 10-06/04/2017 EUR BANCO SANTANDER 4.000% 05-07/04/2020 EUR BANCO SANTANDER 4.625% 07-04/05/2027 EUR BANKINTER SA 0.875% 15-03/08/2022 EUR BANKINTER SA 1.000% 15-05/02/2025 EUR BANKINTER SA 3.125% 13-05/02/2018 EUR BANKINTER SA 4.125% 12-22/03/2017 EUR CAIXABANK 1.000% 16-08/02/2023 EUR CAIXABANK 3.000% 13-22/03/2018 EUR CAJA RURAL NAV 0.500% 15-16/03/2022 EUR CAJA RURAL NAV 0.625% 16-01/12/2023 EUR CAJA RURAL NAV 2.875% 13-11/06/2018 EUR IBERCAJA 0.250% 16-18/10/2023 EUR KUTXABANK 1.750% 14-27/05/2021 EUR KUTXABANK 3.000% 13-01/02/2017 EUR LA CAIXA 3.625% 06-18/01/2021 EUR LA CAIXA 4.625% 07-04/06/2019 EUR Italy CASS RISP PARMA 0.250% 16-30/09/2024 EUR CASS RISP PARMA 0.875% 15-16/06/2023 EUR CREDITO EMILIANO 0.875% 14-05/11/2021 EUR CREDITO EMILIANO 1.875% 14-27/02/2019 EUR CREDITO EMILIANO 3.250% 13-09/07/2020 EUR INTESA SANPAOLO 0.625% 16-23/03/2023 EUR INTESA SANPAOLO 1.375% 15-18/12/2025 EUR INTESA SANPAOLO 3.625% 12-05/12/2022 EUR UNICREDIT SPA 1.875% 13-31/01/2019 EUR UNIONE DI BANCHE 0.375% 16-14/09/2026 EUR Australia COM BK AUSTRALIA 0.500% 16-27/07/2026 EUR COM BK AUSTRALIA 1.375% 14-22/01/2019 EUR NATIONAL AUSTRALIA BANK 1.875% /01/2023 EUR WESTPAC BANKING 1.500% 14-24/03/2021 EUR WESTPAC BANKING 2.125% 12-09/07/2019 EUR Belgium BELFIUS BANK SA 0.375% 14-27/11/2019 EUR BELFIUS BANK SA 0.625% 14-14/10/2021 EUR BNP PARIBAS FORTIS 0.000% 16-24/10/2023 EUR ING BELGIUM SA 0.500% 15-01/10/2021 EUR KBC BANK NV 0.375% 16-01/09/2022 EUR KBC BANK NV 1.250% 13-28/05/2020 EUR The Netherlands ABN AMRO BANK NV 0.875% 16-14/01/2026 EUR ABN AMRO BANK NV 1.000% 16-13/04/2031 EUR ABN AMRO BANK NV 1.500% 15-30/09/2030 EUR ABN AMRO BANK NV 4.250% 11-06/04/2021 EUR ING BANK NV 1.875% 13-22/05/2023 EUR ING BANK NV 3.375% 12-10/01/2022 EUR Finland NORDEA BANK FINLAND 0.125% /06/2020 EUR NORDEA BANK FINLAND 0.625% /03/2027 EUR NORDEA BANK FINLAND 0.625% /10/2022 EUR OP CORPORATE BANK 0.250% /05/2023 EUR OP MORTGAGE BANK 1.500% 14-17/03/2021 EUR United Kingdom ABBEY NATIONAL TREASURY 0.250% /04/2022 EUR LLOYDS BANK PLC 0.500% 16-11/04/2023 EUR LLOYDS BANK PLC 0.625% 15-14/09/2022 EUR LLOYDS BANK PLC 1.375% 14-16/04/2021 EUR NATIONWIDE BLDG 0.750% 14-25/06/2019 EUR NATIONWIDE BLDG 4.375% 07-28/02/2022 EUR Ireland BANK IRELAND MTGE 0.375% 15-07/05/2022 EUR BANK IRELAND MTGE 0.625% 15-19/02/2021 EUR BANK IRELAND MTGE 3.625% 13-02/10/2020 EUR Germany COMMERZBANK AG 0.375% 14-30/09/2019 EUR UNICREDIT BANK 0.050% 15-16/12/2019 EUR UNICREDIT BANK A 1.250% 13-22/04/2020 EUR UNICREDIT BANK A 1.875% 14-09/04/2024 EUR Page 127

130 Covered Bond Euro Expressed in EUR Sweden SKANDINAVISKA ENSKILDA BANK 1.625% /11/2020 EUR SKANDINAVISKA ENSKILDA BANK 4.125% /04/2021 EUR Guernsey Island CREDIT SUISSE GUERNSEY 1.000% /03/2019 EUR CREDIT SUISSE GUERNSEY 2.875% /10/2018 EUR Norway DNB NOR BOLIGKRE 3.875% 11-16/06/2021 EUR Canada ROYAL BANK OF CANADA 0.125% /03/2021 EUR Portugal BANCO SAN TOTTA 0.875% 15-27/10/2020 EUR Total securities portfolio Page 128

131 Cross Asset Absolute Return Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Germany ADO PROPERTIES SA EUR DEUTSCHE WOHNEN AG - BR EUR LEG IMMOBILIEN AG EUR TAG IMMOBILIEN AG EUR VONOVIA SE EUR VONOVIA SE EUR Japan INVINCIBLE INVESTMENT CORP JPY JAPAN HOTEL REIT INVESTMENT JPY JAPAN REAL ESTATE INVESTMENT JPY JAPAN RETAIL FUND INVESTMENT JPY NIPPON BUILDING FUND INC JPY Certificates Ireland SOURCE PHYSICAL GOLD P - ETC USD Bonds United States of America BANK OF AMERICA CORP 4.625% /08/2017 EUR BANK OF AMERICA CORP 4.750% /04/2017 EUR GOLDMAN SACHS GP 4.375% 10-16/03/2017 EUR MORGAN STANLEY 3.750% 12-21/09/2017 EUR The Netherlands ABN AMRO BANK NV 3.625% 10-06/10/2017 EUR E.ON INTER FIN 6.375% 02-29/05/2017 EUR VOLKSWAGEN INTFN 1.875% 12-15/05/2017 EUR France SOCIETE GENERALE 3.750% 12-01/03/2017 EUR Floating rate bonds Italy BANCA IMI SPA 11-31/03/2017 FRN EUR BANCA IMI SPA 12-28/02/2017 FRN EUR INTESA SANPAOLO 10-04/10/2017 FRN EUR INTESA SANPAOLO SPA 07-18/05/2017 FRN EUR UNICREDIT SPA 11-28/02/2017 FRN EUR UNICREDIT SPA 11-31/01/2017 FRN EUR United States of America CITIGROUP INC 07-14/03/2017 FRN EUR JP MORGAN CHASE 14-21/02/2017 FRN EUR United Kingdom CREDIT SUISSE LD 15-30/03/2017 FRN EUR UBS AG LONDON 15-15/05/2017 FRN EUR France BANQUE FED CREDIT MUTUEL /03/2017 FRN EUR BANQUE FED CREDIT MUTUEL /05/2017 FRN EUR RCI BANQUE 14-27/11/2017 FRN EUR Canada CAN IMPERIAL BANK 15-08/09/2017 FRN EUR The Netherlands BMW FINANCE NV 16-30/01/2017 FRN EUR MERRILL LYNCH LUX 07-30/01/2017 FRN EUR Money Market Instruments Italy ITALY BOTS 0.000% 16-31/05/2017 EUR Shares/Units in investment funds Luxembourg BNPP EASY FTSE EPRA/NAREIT EUROZONE CAPPED - UCITS ETF CAP EUR BNPP EASY S&P GSCI (R) ENERGY AND METALS CAPPED COMPONENT 35/20 - UCIT EUR ETF EUR - CAP LYXOR MSCI WORLD HEALTH CARE EUR PARWORLD ABSOLUTE RETURN EQUITY NEUTRAL - I - CAP EUR Ireland SOURCE NASDAQ BIOTECH UCITS USD SPDR EMERGING MKTS LOCAL BD EUR France LYXOR ETF MSCI INDIA EUR Total securities portfolio Page 129

132 Diversified Dynamic Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Certificates Ireland SOURCE PHYSICAL GOLD P - ETC USD Shares/Units in investment funds Ireland ISHARES CORE EURO CORP BOND UC EUR ISHARES EURO CORP BOND LC EUR ISHARES HY CORP EUR ISHARES JPM USD EM BON USD ISHARES MSCI JP EUR-AC ACC SHS EUR ETF EUR France BNP PARIBAS AM KLE EONIA PRIME FCP DIS EUR BNP PARIBAS CREDIT 12M - A EUR BNP PARIBAS EASY STOXX EUROPE UCITS ETF - CLASSIC - CAP EUR LYXOR ETF MSCI EMERGING MKTS - A EUR S&P 500 THEAM EASY UCITS ETF - CLASSIC CAP EUR THEAM-QUANT RAW MATERIALS EN - I EUR H EUR Luxembourg BNP PARIBAS INSTICASH MONEY 3M EUR I - CAP EUR BNPP EASY FTSE EPRA/NAREIT DEVELOPED EUROPE UCITS ETF - QD - DIS EUR BNPP EASY JPM EMBI GLOBAL DIVERSIFIED COMPOSITE TRACK - IH EUR EUR CAP BNPP EASY S&P GSCI (R) ENERGY AND METALS CAPPED COMPONENT 35/20 - UCIT EUR ETF EUR - CAP DB X-TR II TRX CROSSOVER EUR DBX EMERGING MRKTS EUR PARVEST CROSS ASSET ABSOLUTE RETURN - X - CAP EUR Total securities portfolio Page 130

133 Enhanced Cash 6 Months Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Italy ATLANTIA 3.625% 12-30/11/2018 EUR EDISON SPA 3.875% 10-10/11/2017 EUR ENEL (ENTNZENEL) 4.875% 12-20/02/2018 EUR ENEL (ENTNZENEL) 5.250% 07-20/06/2017 EUR ENI SPA 4.875% 11-11/10/2017 EUR INDESIT CO SPA 4.500% 13-26/04/2018 EUR INTESA SANPAOLO 4.000% 12-09/11/2017 EUR INTESA SANPAOLO 4.750% 07-15/06/2017 EUR INTESA SANPAOLO 5.000% 12-28/02/2017 EUR ITALY BTPS 2.250% I/L 13-22/04/2017 EUR ITALY BTPS I/L 2.150% 13-12/11/2017 EUR LOTTOMATICA SPA 5.375% 10-02/02/2018 EUR TERNA SPA 2.875% 12-16/02/2018 EUR TERNA SPA 4.125% 12-17/02/2017 EUR UNICREDIT SPA 3.375% 12-11/01/2018 EUR UNICREDIT SPA 4.875% 12-07/03/2017 EUR UNIONE DI BANCHE 2.750% 13-28/04/2017 EUR France ACCOR 2.500% 13-21/03/2019 EUR ALD INTERNATION 2.000% 13-26/05/2017 EUR ALSTOM 2.250% 12-11/10/2017 EUR ALSTOM 4.125% 10-01/02/2017 EUR AREVA SA 4.625% 11-05/10/2017 EUR ARKEMA 4.000% 10-25/10/2017 EUR AUTOROUTES PARIS 5.000% 11-12/01/2017 EUR BANQUE FED CREDIT MUTUEL 0.250% /06/2019 EUR BNP PARIBAS 0.750% 16-11/11/2022 EUR BNP PARIBAS 2.500% 12-23/08/2019 EUR BNP PARIBAS 5.431% 07-07/09/2017 EUR BOUYGUES 4.000% 10-12/02/2018 EUR CASINO GUICHARD 4.379% 10-08/02/2017 EUR CASINO GUICHARD 4.481% 10-12/11/2018 EUR CIE DE ST GOBAIN 0.000% 16-27/03/2020 EUR CIMENTS FRANCAIS SA 4.750% /04/2017 EUR CREDIT AGRICOLE CIB 5.200% /10/2017 AUD CREDIT AGRICOLE SA 0.000% 11-13/10/2019 EUR CREDIT FONCIER 4.250% 12-24/02/2018 EUR DANONE 0.167% 16-03/11/2020 EUR DANONE 1.125% 12-27/11/2017 EUR EUTELSAT SA 4.125% 10-27/03/2017 EUR EUTELSAT SA 5.000% 11-14/01/2019 EUR FAURECIA 3.125% 15-15/06/2022 EUR GALERIES LAFAYET 4.750% 12-26/04/2019 EUR ICADE 1.875% 15-14/09/2022 EUR ITALCEMENTI FIN 6.625% 10-19/03/2020 EUR JC DECAUX SA 2.000% 13-08/02/2018 EUR KLEPIERRE 4.000% 10-13/04/2017 EUR LEGRAND SA 4.250% 10-24/02/2017 EUR LOXAM SAS 4.875% 14-23/07/2021 EUR ORANGE 4.750% 07-21/02/2017 EUR PERNOD RICARD SA 5.000% 11-15/03/2017 EUR RCI BANQUE 0.375% 16-10/07/2019 EUR RCI BANQUE 0.625% 16-10/11/2021 EUR RCI BANQUE 4.250% 12-27/04/2017 EUR RENAULT 0.750% 15-26/11/2018 JPY SOCIETE GENERALE 6.125% 08-20/08/2018 EUR VALLOUREC SA 4.250% 11-14/02/2017 EUR United States of America ABBVIE INC 0.375% 16-18/11/2019 EUR AMER INTL GROUP 5.000% 07-26/06/2017 EUR BANK OF AMERICA CORP 1.875% /01/2019 EUR BANK OF AMERICA CORP 4.625% /08/2017 EUR CITIGROUP INC 5.000% 04-02/08/2019 EUR COCA-COLA ENTER 3.125% 10-29/09/2017 EUR GOLDMAN SACHS GP 3.700% 14-08/02/2019 AUD HONEYWELL INTERNATIONAL 0.650% /02/2020 EUR JP MORGAN CHASE 3.875% 10-23/09/2020 EUR MCDONALDS CORP 0.500% 16-15/01/2021 EUR MONDELEZ INTERNATIONAL INC 1.125% /01/2017 EUR MORGAN STANLEY 2.250% 13-12/03/2018 EUR MORGAN STANLEY 3.750% 12-21/09/2017 EUR MORGAN STANLEY 5.500% 07-02/10/2017 EUR NATL GRID NA INC 1.750% 13-20/02/2018 EUR WELLS FARGO & CO 2.250% 13-03/09/2020 EUR United Kingdom ABBEY NATIONAL TREASURY 1.750% /01/2018 EUR ANZ NZ INTL/LDN 0.625% 16-01/06/2021 EUR AVIVA PLC 0.100% 16-13/12/2018 EUR CREDIT SUISSE LD 0.375% 16-11/04/2019 EUR CREDIT SUISSE LD 5.125% 07-18/09/2017 EUR EVERYTH EVERYWH FIN 3.500% /02/2017 EUR FCE BANK PLC 1.750% 13-21/05/2018 EUR FCE BANK PLC 1.875% 14-18/04/2019 EUR FCE BANK PLC 2.875% 12-03/10/2017 EUR GLAXOSMITHKLINE 0.625% 14-02/12/2019 EUR HEATHROW FUNDING LTD 4.375% /01/2017 EUR HSBC HOLDINGS PLC 6.250% 08-19/03/2018 EUR IMP BRANDS FIN 4.500% 11-05/07/2018 EUR MONDI FINANCE LT 5.750% 10-03/04/2017 EUR ROYAL BANK SCOTLAND 4.600% /12/2019 EUR ROYAL BANK SCOTLAND 5.375% /09/2019 EUR ROYAL BANK SCOTLAND 5.500% /04/2019 EUR WPP FINANCE % 15-23/03/2018 EUR YORKSHRE BLD SOC 2.125% 14-18/03/2019 EUR Spain AMADEUS CAP MKT 0.125% 16-06/10/2020 EUR BBVA SENIOR FIN 3.750% 13-17/01/2018 EUR CAIXABANK 2.500% 13-18/04/2017 EUR ENAGAS FIN SA 4.250% 12-05/10/2017 EUR FFPP 2.450% 14-31/10/2018 EUR GAS NATURAL CAP 4.125% 10-26/01/2018 EUR GAS NATURAL CAP 4.125% 12-24/04/2017 EUR GAS NATURAL CAP 5.000% 12-13/02/2018 EUR SANTANDER INTL 4.125% 10-04/10/2017 EUR TELEFONICA EMIS 0.318% 16-17/10/2020 EUR TELEFONICA EMIS 3.661% 10-18/09/2017 EUR TELEFONICA EMIS 4.797% 12-21/02/2018 EUR TELEFONICA EMIS 5.811% 12-05/09/2017 EUR Page 131

134 Enhanced Cash 6 Months Expressed in EUR The Netherlands ABN AMRO BANK NV 4.750% 12-11/01/2019 EUR AMADEUS FINANCE 0.625% 14-02/12/2017 EUR BASF FIN EUROPNV 0.000% 16-10/11/2020 EUR CARLSON WAGONLIT 7.500% 12-15/06/2019 EUR CONTI - GUMMI FIN 2.500% 13-20/03/2017 EUR DEUTSCH POST FIN 1.875% 12-27/06/2017 EUR DEUTSCHE ANN FIN 3.125% 13-25/07/2019 EUR E.ON INTER FIN 5.500% 07-02/10/2017 EUR EDP FINANCE BV 2.625% 14-18/01/2022 EUR ENEL FINANCE INTL NV 3.625% /04/2018 EUR ENEL FINANCE INTL NV 4.125% /07/2017 EUR GEN MOTORS FIN 0.850% 15-23/02/2018 EUR GEN MOTORS FIN 1.168% 16-18/05/2020 EUR KBC IFIMA NV 4.500% 12-27/03/2017 EUR KPN NV 4.750% 06-17/01/2017 EUR PACCAR FINANCIAL 0.125% 16-24/05/2019 EUR REPSOL INTL FIN 4.750% 07-16/02/2017 EUR SCHAEFFLER FIN 3.500% 14-15/05/2022 EUR TOYOTA MOTOR FIN 1.950% 15-12/03/2018 AUD WOLTERS KLUWER NV 6.375% /04/2018 EUR Ireland BANK OF IRELAND 2.000% 14-08/05/2017 EUR BANK OF IRELAND 3.250% 14-15/01/2019 EUR ESB FINANCE LTD 6.250% 12-11/09/2017 EUR FCA CAPITAL IRE 1.375% 15-17/04/2020 EUR FGA CAPITAL IRE 2.875% 14-26/01/2018 EUR Germany COMMERZBANK AG 0.500% 15-03/04/2018 EUR CONTINENTAL AG 0.000% 16-05/02/2020 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR HENKEL AG & CO 0.000% 16-13/09/2018 EUR MAN SE 2.125% 12-13/03/2017 EUR UNIPER SE 0.125% 16-08/12/2018 EUR Cayman Islands HUTCHISON WHAMPOA 2.500% 12-06/06/2017 EUR Mexico AMERICA MOVIL SA 1.000% 14-04/06/2018 EUR AMERICA MOVIL SA 4.125% 11-25/10/2019 EUR Luxembourg GESTAMP FUN LUX 3.500% 16-15/05/2023 EUR HEIDELBERGCEMENT 7.500% 10-03/04/2020 EUR HEIDELCEMENT FIN 2.250% 14-12/03/2019 EUR HEIDELCEMENT FIN 8.500% 09-31/10/2019 EUR PROLOGIS INTL II 2.750% 13-23/10/2018 EUR Portugal BRISA CONCESSAO 6.875% 12-02/04/2018 EUR PORTUGUESE OTS 3.850% 05-15/04/2021 EUR Belgium BELFIUS BANK SA 1.125% 14-22/05/2017 EUR Denmark CARLSBERG BREW 3.375% 10-13/10/2017 EUR Austria OMV AG 0.600% 14-19/11/2018 EUR Sweden SKANDINAVISKA ENSKILDA BANK 4.000% 12-12/09/2022 EUR Australia COM BK AUSTRALIA 5.500% 09-06/08/2019 EUR Finland SAMPO OYJ 4.250% 12-27/02/2017 EUR Convertible bonds France AXA SA 3.750% 00-01/01/2017 CV FLAT EUR Floating rate bonds France AXA SA 07-29/10/2049 FRN EUR BANQUE FED CREDIT MUTUEL /08/2017 FRN EUR BANQUE FED CREDIT MUTUEL /06/2020 FRN EUR BNP PARIBAS 05-29/06/2017 FRN EUR BNP PARIBAS 07-29/04/2049 FRN EUR CAISSE EPARG ECR 07-29/10/2049 FRN EUR CARREFOUR BANQUE 14-21/03/2018 FRN EUR CARREFOUR BANQUE 15-21/10/2019 FRN EUR CASINO GUICHARD 12-06/08/2019 FRN EUR CREDIT AGRICOLE SA 08-29/03/2049 FRN EUR EXANE SA 16-17/10/2018 FRN EUR LA BANQUE POSTALE 14-23/04/2026 FRN EUR NATIXIS 07-29/10/2049 FRN EUR RCI BANQUE 14-27/11/2017 FRN EUR RCI BANQUE 15-16/07/2018 FRN EUR RCI BANQUE 16-05/12/2019 FRN EUR RCI BANQUE 16-18/03/2019 FRN EUR SOCIETE GENERALE 07-29/12/2049 FRN EUR SOCRAM BANQUE 14-28/11/2017 FRN EUR VEOLIA ENVIRONNEMENT /01/2049 FRN EUR United States of America AT&T INC 14-04/06/2019 FRN EUR BANK OF AMERICA CORP 06-28/03/ SR FRN EUR BANK OF AMERICA CORP /07/2019 FRN EUR CITIGROUP GLOBAL 16-22/02/2018 FRN EUR FEDEX CORP 16-11/04/2019 FRN EUR GEN ELEC CAP CRP 07-15/09/2067 SR EUR GOLDMAN SACHS GP 07-30/01/2017 FRN EUR GOLDMAN SACHS GP 15-11/09/2018 FRN EUR GOLDMAN SACHS GP 15-27/07/2017 FRN EUR GOLDMAN SACHS GP 16-18/12/2017 FRN EUR GOLDMAN SACHS GP 16-27/07/2021 FRN EUR HONEYWELL INTERNATIONAL /02/2018 FRN EUR MCDONALDS CORP 15-26/08/2019 FRN EUR MERRILL LYNCH 06-14/09/2018 FRN EUR MORGAN STANLEY 16-03/12/2019 FRN EUR Sweden NORDEA BANK AB 12-15/02/2022 FRN EUR SBAB BANK AB 15-27/06/2018 FRN EUR SCANIA CV AB 15-10/03/2017 FRN EUR SKANDINAVISKA ENSKILDA BANK /12/2049 FRN EUR VOLVO TREAS AB 14-11/09/2017 FRN EUR VOLVO TREAS AB 16-03/08/2018 FRN EUR VOLVO TREAS AB 16-06/09/2019 FRN EUR VOLVO TREAS AB 16-20/06/2018 FRN EUR Page 132

135 Enhanced Cash 6 Months Expressed in EUR Italy Shares/Units in investment funds CASSA DEPO PREST 14-30/06/2017 FRN EUR ENEL SPA 13-10/01/2074 FRN EUR France INTESA SANPAOLO 12-06/02/2017 FRN EUR BNP PARIBAS MONEY 3M - IC EUR INTESA SANPAOLO 15-15/06/2020 FRN EUR Luxembourg INTESA SANPAOLO SPA 07-18/05/2017 FRN EUR PARVEST FLEXIBLE BOND EURO - X - CAP EUR ITALY CCTS EU 14-15/12/2020 FRN EUR Total securities portfolio UNICREDIT SPA 11-30/06/2017 FRN EUR UNICREDIT SPA 11-31/01/2017 FRN EUR UNICREDIT SPA 15-19/02/2020 FRN EUR UNIONE DI BANCHE 16-08/09/2018 FRN EUR Ireland ELSEVIER FINANCE 14-20/05/2017 FRN EUR FCA CAPITAL IRE 16-22/03/2017 FRN EUR INTESA SANP IRL 15-09/03/2018 FRN EUR Germany DAIMLER AG 16-12/01/2019 FRN EUR ENERGIE BADEN-WU 11-02/04/2072 FRN EUR MERCK FIN SERVIC 15-01/09/2017 FRN EUR MUENCHENER RUECKVERSICHERUNG /06/2049 FRN EUR SAP SE 14-20/11/2018 FRN EUR The Netherlands ALLIANZ FINANCE 05-29/12/2049 SR EUR BMW FINANCE NV 15-14/08/2017 FRN EUR BMW FINANCE NV 15-26/05/2017 FRN EUR MERRILL LYNCH LUX 07-30/01/2017 FRN EUR TELEFONICA EUROP 13-29/09/2049 FRN EUR VONOVIA BV 15-15/12/2017 FRN EUR United Kingdom BARCLAYS BANK PLC 05-29/03/2049 SR EUR CREDIT SUISSE LD 15-10/11/2017 FRN EUR CREDIT SUISSE LD 15-30/03/2017 FRN EUR CREDIT SUISSE LD 16-19/02/2018 FRN EUR CS GRP FIN (GRN) 99-29/07/2019 FRN EUR FCE BANK PLC 15-10/02/2018 FRN EUR FCE BANK PLC 15-17/09/2019 FRN EUR FCE BANK PLC 16-11/08/2018 FRN EUR VODAFONE GROUP 16-25/02/2019 FRN EUR Belgium BELFIUS BANK SA 16-14/09/2018 FRN EUR BELFIUS BANK SA 16-21/03/2018 FRN EUR SOLVAY SA 15-01/12/2017 FRN EUR Jersey Island UBS CAPITAL 07-29/12/2049 FRN EUR Spain MAPFRE SA 07-24/07/2037 FRN EUR Australia SCENTRE MGMT 14-16/07/2018 FRN EUR Canada CAISSE CENTRALE DESJAR /01/2018 FRN EUR Money Market Instruments France CASINO GUICHARD PERRACHON 0.000% /02/2017 BT EUR EXANE FINANCE CRT 09/03/2017 EONCAPL7 EUR SFR-GROUP 0.000% 11/01/2017 BT EUR Page 133

136 Equity Asia ex-japan Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares India AJANTA PHARMA LTD INR APOLLO HOSPITALS ENTERPRISE INR ARVIND LTD INR AUROBINDO PHARMA LTD INR BASF INDIA LTD INR CASTROL INDIA LTD INR CHOLAMANDALAM INVESTMENT AND INR CREDIT ANALYSIS & RESEARCH INR CRISIL LTD INR DR LAL PATHLABS LTD INR GATEWAY DISTRIPARKS LTD INR GODREJ INDUSTRIES LTD INR GRUH FINANCE LTD INR IDFC LTD INR INDOCO REMEDIES LTD INR INFO EDGE INDIA LTD INR JK CEMENT LTD INR KANSAI NEROLAC PAINTS LTD INR LINDE INDIA LTD INR MAX INDIA LIMITED INR MPHASIS LTD INR ORIENT CEMENT LTD INR PAGE INDUSTRIES LTD INR PIRAMAL ENTERPRISES LTD INR PVR LTD INR REPCO HOME FINANCE LTD INR SHREE CEMENT LTD INR SHRIRAM CITY UNION FINANCE INR SKF INDIA LTD INR SUN PHARMACEUTICAL INDUSTRIES INR SUNDARAM FINANCE LTD INR SUPREME INDUSTRIES LTD INR THOMAS COOK (INDIA) LTD INR TUBE INVESTMENTS OF INDIA INR WABCO INDIA LTD INR Hong Kong ASM PACIFIC TECHNOLOGY LTD HKD BRILLIANCE CHINA AUTOMOTIVE HKD CAFE DE CORAL HOLDINGS LTD HKD CHEUNG KONG INFRASTRUCTURE HKD CHINA MERCHANTS PORT HOLDING HKD CHINA SINGYES SOLAR TECH - H HKD CHINA TAIPING INSURANCE HOLD HKD CHINA TRADITIONAL CHINESE ME HKD ESSEX BIO-TECHNOLOGY LTD HKD HAIER ELECTRONICS GROUP CO HKD HANG SENG BANK LTD HKD LEES PHARMACEUTICAL HLDGS HKD SITC INTERNATIONAL HOLDINGS HKD TECHTRONIC INDUSTRIES CO LTD HKD VITASOY INTERNATIONAL HOLDINGS HKD YUEXIU TRANSPORT INFRASTRUCT HKD DELTA ELECTRONIC INDUSTRIAL CO TWD ECLAT TEXTILE COMPANY LTD TWD GIANT MANUFACTURING TWD SPORTON INTERNATIONAL INC TWD STANDARD FOODS CORP TWD SUPERALLOY INDUSTRIAL CO LTD TWD TAIWAN FAMILYMART CO LTD TWD TAIWAN SECOM TWD China JOB INC - ADR USD ANHUI EXPRESSWAY CO LTD - H HKD CHINA COMMUNICATIONS SERVI - H HKD CHINA MEDICAL SYSTEM HOLDING HKD CHINA MENGNIU DAIRY CO HKD CHINA ZHENGTONG AUTO SERVICE HKD GREAT WALL MOTOR COMPANY - H HKD HAITIAN INTERNATIONAL HOLDINGS HKD LIFETECH SCIENTIFIC CORP HKD MINTH GROUP LTD HKD SHENZHEN EXPRESSWAY CO - H HKD SICHUAN EXPRESSWAY CO - H HKD SUNNY OPTICAL TECH HKD TONG REN TANG TECHNOLOGIES - H HKD Australia ACONEX LTD AUD CORPORATE TRAVEL MANAGEMENT AUD DOMINOS PIZZA ENTERPRISES AUD IPH LTD AUD REA GROUP LTD AUD RETAIL FOOD GROUP LTD AUD South Korea BINGGRAE CO LTD KRW COSMAX INC KRW HUVITZ CO LTD KRW LG HOUSEHOLD + HEALTH-PREF KRW MEDY-TOX INC KRW S-1 CORPORATION KRW SAMSUNG FIRE + MARINE INS - PF KRW SK HYNIX INC KRW Indonesia ASTRA OTOPARTS TBK PT IDR BANK CENTRAL ASIA TBK PT IDR BUMI SERPONG DAMAI PT IDR MITRA ADIPERKASA TBK PT IDR PAKUWON JATI TBK PT IDR UNILEVER INDONESIA TBK PT IDR XL AXIATA TBK PT IDR Philippines CEMEX HOLDINGS PHILIPPINES PHP SECURITY BANK CORP PHP SM INVESTMENTS CORP PHP Malaysia LPI CAPITAL BERHAD MYR QL RESOURCES BHD MYR New Zealand FISHER + PAYKEL HEALTHCARE NZD Taiwan ADVANTECH CO LTD TWD BASSO INDUSTRY CORP TWD CTCI CORP TWD Page 134

137 Equity Asia ex-japan Expressed in USD Warrants, Rights CORPORATE TRAVEL MANAGEM RTS 17/01/2017 AUD Total securities portfolio Page 135

138 Equity Asia Pacific ex-japan Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares China ANHUI CONCH CEMENT CO LTD - H HKD BANK OF CHINA LTD - H HKD BANK OF COMMUNICATIONS CO - H HKD BEIJING CAPITAL INTL AIRPORT - H HKD CHINA CITIC BANK CORP LTD - H HKD CHINA COMMUNICATIONS CONST - H HKD CHINA CONSTRUCTION BANK - H HKD CHINA LIFE INSURANCE CO - H HKD CHINA MENGNIU DAIRY CO HKD CHINA SHENHUA ENERGY CO - H HKD CHINA TELECOM CORP LTD - H HKD COUNTRY GARDEN HOLDINGS CO HKD GREAT WALL MOTOR COMPANY - H HKD HUANENG POWER INTL INC - H HKD IND & COMM BANK OF CHINA - H HKD JIANGSU EXPRESS CO LTD - H HKD PING AN INSURANCE GROUP CO - H HKD SHENZHEN EXPRESSWAY CO - H HKD SHENZHOU INTERNATIONAL GROUP HKD SICHUAN EXPRESSWAY CO - H HKD SUNNY OPTICAL TECH HKD TENCENT HOLDINGS LTD HKD TINGYI (CAYMAN ISLAND) HOLDING CO HKD Australia AGL ENERGY LTD AUD AMCOR LTD AUD AURIZON HOLDINGS LTD AUD AUST AND NZ BANKING GROUP AUD BHP BILLITON LTD AUD BRAMBLES LTD AUD COMMONWEALTH BANK OF AUSTRALIA AUD CSL LTD AUD GOODMAN GROUP AUD MIRVAC GROUP AUD NATIONAL AUSTRALIA BANK LTD AUD QBE INSURANCE GROUP LTD AUD SOUTH32 LTD AUD SUNCORP GROUP LTD AUD TELSTRA CORP LTD AUD TRANSURBAN GROUP AUD WESTPAC BANKING CORP AUD South Korea COSMAX INC KRW HYUNDAI HEAVY INDUSTRIES KRW HYUNDAI MOTOR CO KRW INDUSTRIAL BANK OF KOREA KRW KIA MOTORS CORP KRW LG CHEM LTD KRW LG CORP KRW LG DISPLAY CO LTD KRW POSCO KRW SAMSUNG ELECTRONICS CO LTD KRW SHINHAN FINANCIAL GROUP LTD KRW SK HYNIX INC KRW SK INNOVATION CO LTD KRW S-OIL CORP KRW Taiwan ADVANCED SEMICONDUCTOR ENGR TWD CATCHER TECHNOLOGY CO LTD TWD CATHAY FINANCIAL HOLDING CO TWD CTBC FINANCIAL HOLDING CO LTD TWD CTCI CORP TWD DELTA ELECTRONIC INDUSTRIAL CO TWD ECLAT TEXTILE COMPANY LTD TWD FORMOSA PLASTICS CORP TWD NAN YA PLASTICS CORP TWD PEGATRON CORP TWD SPORTON INTERNATIONAL INC TWD TAIWAN SEMICONDUCTOR MANUFAC TWD Hong Kong AIA GROUP LTD HKD BEIJING ENTERPRISES HOLDINGS HKD BRILLIANCE CHINA AUTOMOTIVE HKD CHEUNG KONG INFRASTRUCTURE HKD CHINA MOBILE LTD HKD CHINA STATE CONSTRUCTION INT HKD CK HUTCHISON HOLDINGS LTD HKD HENDERSON LAND DEVELOPMENT HKD HONG KONG EXCHANGES & CLEAR HKD LINK REIT HKD POWER ASSETS HOLDINGS LTD HKD India ASIAN PAINTS LTD INR GODREJ CONSUMER PRODUCTS LTD INR HDFC BANK LTD INR ICICI BANK LTD INR KOTAK MAHINDRA BANK LTD INR SUN PHARMACEUTICAL INDUSTRIES INR TATA CONSULTANCY SVCS LTD INR TATA MOTORS LTD INR Singapore DBS GROUP HOLDINGS LTD SGD JARDINE CYCLE & CARRIAGE LTD SGD OVERSEA-CHINESE BANKING CORP SGD UNITED OVERSEAS BANK LTD SGD Indonesia BANK CENTRAL ASIA TBK PT IDR BANK RAKYAT INDONESIA PERSER IDR PERUSAHAAN GAS NEGARA PERSER IDR TELEKOMUNIKASI INDONESIA PER IDR Malaysia MALAYAN BANKING BHD MYR PETRONAS CHEMICALS GROUP BHD MYR QL RESOURCES BHD MYR TELEKOM MALAYSIA BHD MYR TENAGA NASIONAL BHD MYR Thailand BANGKOK BANK PCL-FOREIGN REG THB PTT GLOBAL CHEMICAL PCL - FOR THB PTT PCL/FOREIGN THB Philippines PLDT INC PHP SM INVESTMENTS CORP PHP Page 136

139 Equity Asia Pacific ex-japan Expressed in EUR Ireland JAMES HARDIE INDUSTRIES - CDI AUD Shares/Units in investment funds Luxembourg BNPP FLEXI I CSI 300 INDEX - I EUR - CAP EUR Total securities portfolio Page 137

140 Equity Australia Expressed in AUD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Australia AMCOR LTD AUD AUST AND NZ BANKING GROUP AUD BAPCOR LTD AUD BHP BILLITON LTD AUD BRAMBLES LTD AUD CALTEX AUSTRALIA LTD AUD CARSALES.COM LTD AUD COMMONWEALTH BANK OF AUSTRALIA AUD CROWN RESORTS LTD AUD CSL LTD AUD GOODMAN GROUP AUD HEALTHSCOPE LTD AUD IRESS LTD AUD ISENTIA GROUP LTD AUD LINK ADMINISTRATION HOLDINGS AUD MACQUARIE GROUP LTD AUD MANTRA GROUP LTD AUD MYOB GROUP LTD AUD NATIONAL AUSTRALIA BANK LTD AUD NEXTDC LTD AUD OIL SEARCH LTD AUD REA GROUP LTD AUD SPOTLESS GROUP HOLDINGS LTD AUD TABCORP HOLDINGS LTD AUD TELSTRA CORP LTD AUD TRANSURBAN GROUP AUD VOCUS COMMUNICATIONS LTD AUD WESFARMERS LTD AUD WESTPAC BANKING CORP AUD WOODSIDE PETROLEUM LTD AUD Ireland JAMES HARDIE INDUSTRIES - CDI AUD New Zealand TRADE ME GROUP LTD AUD United Kingdom HENDERSON GROUP PLC - CDI AUD Total securities portfolio Page 138

141 Equity Best Selection Asia ex-japan Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares China CHINA COMMUNICATIONS SERVI - H HKD CHINA CONSTRUCTION BANK - H HKD CHINA TELECOM CORP LTD - H HKD ENN ENERGY HOLDINGS LTD HKD GREAT WALL MOTOR COMPANY - H HKD HENGAN INTL GROUP CO LTD HKD HUANENG POWER INTL INC - H HKD IND & COMM BANK OF CHINA - H HKD PING AN INSURANCE GROUP CO - H HKD SHENZHOU INTERNATIONAL GROUP HKD TENCENT HOLDINGS LTD HKD Hong Kong CHEUNG KONG INFRASTRUCTURE HKD CHINA GAS HOLDINGS LTD HKD CHINA STATE CONSTRUCTION INT HKD CHINA TAIPING INSURANCE HOLD HKD CK HUTCHISON HOLDINGS LTD HKD HAIER ELECTRONICS GROUP CO HKD HANG LUNG PROPERTIES LTD HKD HONG KONG EXCHANGES & CLEAR HKD MTR CORP HKD TECHTRONIC INDUSTRIES CO LTD HKD Taiwan ADVANTECH CO LTD TWD DELTA ELECTRONIC INDUSTRIAL CO TWD ECLAT TEXTILE COMPANY LTD TWD FUBON FINANCIAL HOLDING CO TWD PRESIDENT CHAIN STORE CORP TWD SPORTON INTERNATIONAL INC TWD TAIWAN SEMICONDUCTOR MANUFAC TWD India ASIAN PAINTS LTD INR HINDUSTAN UNILEVER LTD INR KOTAK MAHINDRA BANK LTD INR LUPIN LTD INR TATA MOTORS LTD INR TECH MAHINDRA LTD INR South Korea LG HOUSEHOLD & HEALTH CARE KRW SAMSUNG ELECTRONICS CO LTD KRW SK HYNIX INC KRW Singapore SINGAPORE EXCHANGE LTD SGD SINGAPORE TELECOMMUNICATIONS SGD Indonesia BANK CENTRAL ASIA TBK PT IDR MATAHARI DEPARTMENT STORE TB IDR UNILEVER INDONESIA TBK PT IDR Malaysia PUBLIC BANK BERHAD MYR Philippines SM INVESTMENTS CORP PHP Total securities portfolio Page 139

142 Equity Best Selection Euro Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Germany BAYER AG - REG EUR BAYERISCHE MOTOREN WERKE AG EUR CONTINENTAL AG EUR DEUTSCHE BOERSE AG-TENDER EUR DEUTSCHE TELEKOM AG - REG EUR FRESENIUS MEDICAL CARE AG EUR GERRESHEIMER AG EUR INFINEON TECHNOLOGIES AG EUR LINDE AG EUR SAP SE EUR France ADP EUR AIR LIQUIDE SA EUR COMPAGNIE DE SAINT GOBAIN EUR LEGRAND SA EUR LVMH MOET HENNESSY LOUIS VUITTON EUR PERNOD RICARD SA EUR SCHNEIDER ELECTRIC SE EUR The Netherlands AKZO NOBEL EUR ASML HOLDING NV EUR ING GROEP NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR RELX N.V. EUR ROYAL DUTCH SHELL PLC - A EUR Spain AENA SA EUR AMADEUS IT GROUP SA EUR BANCO BILBAO VIZCAYA ARGENTA EUR BANCO SANTANDER SA EUR GRIFOLS SA EUR GRIFOLS SA - B EUR MEDIASET ESPANA COMUNICACION EUR Ireland BANK OF IRELAND EUR CRH PLC EUR Italy ENI SPA EUR LUXOTTICA GROUP SPA EUR TELECOM ITALIA SPA EUR Portugal GALP ENERGIA SGPS SA EUR JERONIMO MARTINS EUR United Kingdom UNILEVER NV - CVA EUR Belgium ANHEUSER - BUSCH INBEV SA/NV EUR Finland SAMPO OYJ - A EUR Sweden NORDEA BANK AB - FDR EUR Luxembourg TENARIS SA EUR Shares/Units in investment funds France BNP PARIBAS CASH INVEST - CLASSIC EUR Total securities portfolio Page 140

143 Equity Best Selection Europe Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United Kingdom BT GROUP PLC GBP DIAGEO PLC GBP INMARSAT PLC GBP KINGFISHER PLC GBP LLOYDS BANKING GROUP PLC GBP LONDON STOCK EXCHANGE GROUP GBP PRUDENTIAL PLC GBP RECKITT BENCKISER GROUP PLC GBP RIO TINTO PLC GBP SMITHS GROUP PLC GBP STANDARD CHARTERED PLC GBP UNILEVER NV - CVA EUR Germany BAYER AG - REG EUR DEUTSCHE BOERSE AG-TENDER EUR FRESENIUS MEDICAL CARE AG EUR LINDE AG EUR SAP SE EUR The Netherlands AKZO NOBEL EUR ASML HOLDING NV EUR ING GROEP NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR ROYAL DUTCH SHELL PLC - A GBP ROYAL DUTCH SHELL PLC - B GBP Spain AENA SA EUR AMADEUS IT GROUP SA EUR BANCO SANTANDER SA EUR GRIFOLS SA EUR GRIFOLS SA - B EUR MEDIASET ESPANA COMUNICACION EUR Ireland CRH PLC EUR EXPERIAN PLC GBP SHIRE PLC GBP Switzerland ROCHE HOLDING AG GENUSSCHEIN CHF SCHINDLER HOLDING - PART CERT CHF SWATCH GROUP AG/THE - BR CHF France ADP EUR AIR LIQUIDE SA EUR COMPAGNIE DE SAINT GOBAIN EUR Sweden ATLAS COPCO AB - A SEK HEXAGON AB - B SEK NORDEA BANK AB SEK Norway DNB ASA NOK Portugal JERONIMO MARTINS EUR Belgium ANHEUSER - BUSCH INBEV SA/NV EUR Finland SAMPO OYJ - A EUR Denmark CARLSBERG AS - B DKK Italy LUXOTTICA GROUP SPA EUR Luxembourg TENARIS SA EUR Shares/Units in investment funds France BNP PARIBAS CASH INVEST - CLASSIC EUR Total securities portfolio Page 141

144 Equity Best Selection Europe ex-uk Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Germany BAYER AG - REG EUR CONTINENTAL AG EUR DEUTSCHE BOERSE AG-TENDER EUR DEUTSCHE TELEKOM AG - REG EUR FRESENIUS MEDICAL CARE AG EUR GERRESHEIMER AG EUR INFINEON TECHNOLOGIES AG EUR LINDE AG EUR SAP SE EUR France ADP EUR AIR LIQUIDE SA EUR COMPAGNIE DE SAINT GOBAIN EUR LEGRAND SA EUR LVMH MOET HENNESSY LOUIS VUITTON EUR PERNOD RICARD SA EUR SCHNEIDER ELECTRIC SE EUR Switzerland GIVAUDAN - REG CHF NOVARTIS AG - REG CHF ROCHE HOLDING AG GENUSSCHEIN CHF SCHINDLER HOLDING - PART CERT CHF SWATCH GROUP AG/THE - REG CHF Spain AENA SA EUR AMADEUS IT GROUP SA EUR BANCO BILBAO VIZCAYA ARGENTA EUR BANCO SANTANDER SA EUR GRIFOLS SA EUR GRIFOLS SA - B EUR MEDIASET ESPANA COMUNICACION EUR The Netherlands AKZO NOBEL EUR ASML HOLDING NV EUR ING GROEP NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR ROYAL DUTCH SHELL PLC - A EUR Sweden ATLAS COPCO AB - A SEK HEXAGON AB - B SEK NORDEA BANK AB SEK Ireland BANK OF IRELAND EUR CRH PLC EUR Portugal GALP ENERGIA SGPS SA EUR JERONIMO MARTINS EUR United Kingdom UNILEVER NV - CVA EUR Norway DNB ASA NOK Italy LUXOTTICA GROUP SPA EUR TELECOM ITALIA SPA EUR Belgium ANHEUSER - BUSCH INBEV SA/NV EUR Finland SAMPO OYJ - A EUR Denmark CARLSBERG AS - B DKK Luxembourg TENARIS SA EUR Total securities portfolio Page 142

145 Equity Best Selection World Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABBOTT LABORATORIES USD ALPHABET INC - A USD CELGENE CORP USD CISCO SYSTEMS INC USD CITRIX SYSTEMS INC USD COGNIZANT TECH SOLUTIONS - A USD COMCAST CORP - A USD COSTCO WHOLESALE CORP USD HESS CORP USD MARSH & MCLENNAN COS USD MASTERCARD INC - A USD POLARIS INDUSTRIES INC USD REYNOLDS AMERICAN INC USD S&P GLOBAL INC USD SABRE CORP USD SERVICEMASTER GLOBAL HOLDING USD ZIMMER BIOMET HOLDINGS INC USD United Kingdom AON PLC USD BT GROUP PLC GBP KINGFISHER PLC GBP The Netherlands ASML HOLDING NV EUR ROYAL DUTCH SHELL PLC - B GBP SENSATA TECHNOLOGIES HOLDING USD China ALIBABA GROUP HOLDING-SP ADR USD BAIDU INC - SPON ADR USD CHINA ANIMAL HEALTHCARE LTD HKD TENCENT HOLDINGS LTD HKD Germany BAYER AG - REG EUR SAP SE EUR Finland NOKIA OYJ EUR Switzerland NOVARTIS AG - REG CHF France ALSTOM EUR Hong Kong AIA GROUP LTD HKD India YES BANK LTD INR Canada ALIMENTATION COUCHE-TARD - B CAD Total securities portfolio Page 143

146 Equity Brazil Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Brazil ALUPAR INVESTIMENTO SA - UNIT BRL AMBEV SA BRL BANCO BRADESCO SA BRL BANCO BRADESCO SA-PREF BRL BANCO BRADESCO-ADR USD BANCO DO BRASIL S.A. BRL BB SEGURIDADE PARTICIPACOES BRL BM&FBOVESPA SA BRL BR MALLS PARTICIPACOES SA BRL BRF SA BRL BRF SA-ADR USD CCR SA BRL CETIP SA-MERCADOS ORGANIZADO BRL CIA BRASILEIRA DE DIS-PREF BRL CIA ENERGETICA DE SP-PREF B BRL CIA ENERGETICA MINAS GER-PRF BRL CIA SANEAMENTO BASICO DE SP BRL CIA SANEAMENTO DO PARANA-PRF BRL CIELO SA BRL COSAN LOGISTICA SA BRL COSAN LTD - A SHARES USD COSAN LTD - BDR BRL COSAN SA INDUSTRIA COMERCIO BRL CPFL ENERGIA SA BRL EMBRAER SA BRL ENERGISA SA - UNITS BRL ESTACIO PARTICIPACOES SA BRL GERDAU SA - PREF BRL HYPERMARCAS SA BRL ITAU UNIBANCO HOLDING S-PREF BRL ITAU UNIBANCO H-SPON PRF ADR USD ITAUSA INVESTIMENTOS ITAU-PR BRL JBS SA BRL KLABIN SA - UNIT BRL KROTON EDUCACIONAL SA BRL LOJAS AMERICANAS SA-PREF BRL MINERVA SA BRL PETROBRAS - PETROLEO BRAS BRL PETROBRAS - PETROLEO BRAS-PR BRL PETROLEO BRASILEIRO - SPON ADR USD PETROLEO BRASIL-SP PREF ADR USD QUALICORP SA BRL RAIA DROGASIL SA BRL RUMO LOGISTICA OPERADORA MUL BRL SUZANO PAPEL E CELULO - PREF A BRL TELEFONICA BRASIL - ADR USD TELEFONICA BRASIL SA - PREF BRL TIM PARTICIPACOES SA BRL ULTRAPAR PARTICIPACOES SA BRL VALE SA BRL VALE SA-PREF BRL VALE SA-SP ADR USD VALE SA-SP PREF ADR USD WEG SA BRL Other transferable securities Shares Brazil TECNISA SA BRL Convertible bonds Brazil KLABIN SA % 13-08/01/ SUBR CV BRL Total securities portfolio Page 144

147 Equity China Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares China ALIBABA GROUP HOLDING-SP ADR USD ANGANG STEEL CO LTD - H HKD ANHUI CONCH CEMENT CO LTD - H HKD BAIDU INC - SPON ADR USD BANK OF CHINA LTD - H HKD CHINA COMMUNICATIONS CONST - H HKD CHINA CONSTRUCTION BANK - H HKD CHINA LIFE INSURANCE CO - H HKD CHINA MENGNIU DAIRY CO HKD CHINA PETROLEUM & CHEMICAL - H HKD CHINA RAILWAY CONSTRUCTION - H HKD CNOOC LTD HKD CTRIP.COM INTERNATIONAL-ADR USD GUANGZHOU AUTOMOBILE GROUP - H HKD HAITONG SECURITIES CO LTD - H HKD IND & COMM BANK OF CHINA - H HKD JD.COM INC - ADR USD JIANGSU HENGRUI MEDICINE C - A CNY JIANGXI COPPER CO LTD - H HKD LI NING CO LTD HKD NETEASE INC - ADR USD PETROCHINA CO LTD - H HKD PICC PROPERTY & CASUALTY - H HKD PING AN INSURANCE GROUP CO - H HKD QINGDAO HAIER CO LTD - A CNY SANY HEAVY INDUSTRY CO LTD - A CNY SHANGHAI ELECTRIC GROUP CO LTD - H HKD SINA CORP USD SUN ART RETAIL GROUP LTD HKD SUNNY OPTICAL TECH HKD TAL EDUCATION GROUP - ADR USD TENCENT HOLDINGS LTD HKD YIHAI INTERNATIONAL HOLDING HKD Hong Kong AIA GROUP LTD HKD CHINA MOBILE LTD HKD CHINA OVERSEAS LAND & INVEST HKD CHINA RESOURCES LAND LTD HKD CHINA UNICOM HONG KONG LTD HKD CSPC PHARMACEUTICAL GROUP LTD HKD GUANGDONG INVESTMENT LTD HKD ORIENT OVERSEAS INTL LTD HKD SINO BIOPHARMACEUTICAL HKD XINYI GLASS HOLDINGS LTD HKD United States of America NEXTEER AUTOMOTIVE GROUP LTD HKD SAMSONITE INTERNATIONAL SA HKD Taiwan TAIWAN SEMICONDUCTOR MANUFAC TWD Warrants, Rights UBS PN 12/05/2017 HANGZHOU HIKV A SHS A USD UBS PN 12/05/2017 KWEICHOW MOUTAI USD UBS PN 25/12/2017 DONG USD Other transferable securities Shares Hong Kong EURO ASIA AGRICULTURAL HOLDINGS HKD RNA HOLDINGS LTD HKD Shares/Units in investment funds Luxembourg BNPP FLEXI I CSI 300 INDEX - I USD - CAP USD Total securities portfolio Page 145

148 Equity Europe Emerging Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Russia ACRON PJSC RUB ALROSA PAO RUB E.ON RUSSIA JSC USD GAZPROM NEFT - SPONSORED ADR USD GAZPROM PAO -SPON ADR USD INTER RAO UES PJSC RUB LUKOIL PJSC - SPON ADR USD M VIDEO PAO RUB MAGNIT PJSC RUB MAGNIT PJSC USD MEGAFON - REG GDR USD MMC NORILSK NICKEL PJSC - ADR USD MOBILE TELESYSTEMS OJSC USD MOBILE TELESYSTEMS PJSC RUB MOSCOW EXCHANGE MICEX - RTS RUB MOSCOW EXCHANGE MICEX - RTS PJ USD NOVATEK PJSC-SPONS GDR REG S USD PHOSAGRO OAO - GDR REG USD ROSNEFT OIL CO PJSC-REG GDR USD RUSHYDRO PJSC - ADR USD SBERBANK OF RUSSIA PJSC RUB SBERBANK OF RUSSIA PJSC USD SBERBANK-PREFERENCE RUB SURGUTNEFTEGAS-PREFERENCE RUB SURGUTNEFTEGAS-PREFERENCE USD TATNEFT - PREF 3 SERIES RUB TRANSNEFT PJSC RUB UNIPRO PJSC RUB X 5 RETAIL GROUP NV-REGS GDR USD Turkey AKBANK T.A.S. TRY AKCANSA CIMENTO TRY BIM BIRLESIK MAGAZALAR AS TRY COCA-COLA ICECEK AS TRY ENKA INSAAT VE SANAYI AS TRY EREGLI DEMIR VE CELIK FABRIK TRY LOGO YAZILIM SANAYI VE TICAR TRY SODA SANAYII TRY TAT KONSERVE TRY TOFAS TURK OTOMOBIL FABRIKASI TRY TUPRAS-TURKIYE PETROL RAFINE TRY TURK HAVA YOLLARI AO TRY TURK SISE VE CAM FABRIKALARI TRY TURKCELL ILETISIM HIZMET AS TRY TURKIYE GARANTI BANKASI TRY TURKIYE IS BANKASI - C TRY TURKIYE SINAI KALKINMA BANK TRY TURKIYE VAKIFLAR BANKASI T-D TRY Poland ASSECO POLAND SA PLN BANK PEKAO SA PLN CCC SA PLN CYFROWY POLSAT SA PLN PFLEIDERER GROUP SA PLN PGE SA PLN PKO BANK POLSKI SA PLN POWSZECHNY ZAKLAD UBEZPIECZE PLN WARSAW STOCK EXCHANGE PLN Greece ALPHA BANK A.E. EUR FF GROUP EUR MOTOR OIL (HELLAS) SA EUR NATIONAL BANK OF GREECE EUR Hungary MOL HUNGARIAN OIL AND GAS PL HUF OTP BANK PLC HUF RICHTER GEDEON NYRT HUF Cyprus GLOBALTRA-SPONS GDR REGS USD Czech Republic MONETA MONEY BANK AS CZK Switzerland LUXOFT HOLDING INC USD Guernsey Island ETALON GROUP-GDR REGS - W/I USD The Netherlands VIMPELCOM LTD-SPON ADR USD Kazakhstan KCELL JSC - REGS - W/I USD Slovakia POVAZSKE STROJARNE EUR Total securities portfolio Page 146

149 Equity Europe Growth Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United Kingdom BT GROUP PLC GBP DIAGEO PLC GBP INMARSAT PLC GBP KINGFISHER PLC GBP LLOYDS BANKING GROUP PLC GBP LONDON STOCK EXCHANGE GROUP GBP PRUDENTIAL PLC GBP RECKITT BENCKISER GROUP PLC GBP SMITHS GROUP PLC GBP STANDARD CHARTERED PLC GBP UNILEVER NV - CVA EUR Germany BAYER AG - REG EUR DEUTSCHE BOERSE AG-TENDER EUR FRESENIUS MEDICAL CARE AG EUR GERRESHEIMER AG EUR INFINEON TECHNOLOGIES AG EUR LINDE AG EUR SAP SE EUR The Netherlands AKZO NOBEL EUR ASML HOLDING NV EUR ING GROEP NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR ROYAL DUTCH SHELL PLC - B GBP Spain AENA SA EUR AMADEUS IT GROUP SA EUR BANCO SANTANDER SA EUR GRIFOLS SA EUR GRIFOLS SA - B EUR MEDIASET ESPANA COMUNICACION EUR Ireland CRH PLC EUR EXPERIAN PLC GBP SHIRE PLC GBP Switzerland ROCHE HOLDING AG GENUSSCHEIN CHF SCHINDLER HOLDING - PART CERT CHF SWATCH GROUP AG/THE - BR CHF Sweden ATLAS COPCO AB - A SEK HEXAGON AB - B SEK NORDEA BANK AB SEK France ADP EUR AIR LIQUIDE SA EUR COMPAGNIE DE SAINT GOBAIN EUR Portugal JERONIMO MARTINS EUR Norway DNB ASA NOK Belgium ANHEUSER - BUSCH INBEV SA/NV EUR Finland SAMPO OYJ - A EUR Denmark CARLSBERG AS - B DKK Italy LUXOTTICA GROUP SPA EUR Luxembourg TENARIS SA EUR Shares/Units in investment funds France BNP PARIBAS CASH INVEST - CLASSIC EUR Total securities portfolio Page 147

150 Equity Europe Mid Cap Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares France ATOS SE EUR FAURECIA EUR FONCIERE DES REGIONS EUR ILIAD SA EUR KLEPIERRE EUR NATIXIS EUR SEB SA EUR SFR GROUP SA EUR SOCIETE BIC SA EUR TELEPERFORMANCE EUR THALES SA EUR VALEO SA EUR United Kingdom ASHTEAD GROUP PLC GBP BABCOCK INTL GROUP PLC GBP BARRATT DEVELOPMENTS PLC GBP DERWENT LONDON PLC GBP DIXONS CARPHONE PLC GBP DS SMITH PLC GBP HIKMA PHARMACEUTICALS PLC GBP IG GROUP HOLDINGS PLC GBP INCHCAPE PLC GBP INFORMA PLC GBP INTERTEK GROUP PLC GBP MICRO FOCUS INTERNATIONAL GBP PERSIMMON PLC GBP Germany FREENET AG EUR GEA GROUP AG EUR KION GROUP AG EUR LEG IMMOBILIEN AG EUR MTU AERO ENGINES AG EUR PROSIEBEN SAT.1 MEDIA SE EUR SYMRISE AG EUR Switzerland BANQUE CANTONALE VAUDOIS - REG CHF FLUGHAFEN ZUERICH AG - REG CHF LOGITECH INTERNATIONAL - REG CHF SCHINDLER HOLDING - PART CERT CHF SIKA AG - BR CHF Ireland DCC PLC GBP KINGSPAN GROUP PLC EUR PADDY POWER BETFAIR PLC GBP SMURFIT KAPPA GROUP PLC EUR The Netherlands NN GROUP NV - W/I EUR WOLTERS KLUWER EUR Sweden CASTELLUM AB SEK HEXAGON AB - B SEK Italy BANCA MEDIOLANUM SPA EUR RECORDATI SPA EUR Finland HUHTAMAKI OYJ EUR Spain DISTRIBUIDORA INTERNACIONAL EUR Jersey Island PHOENIX GROUP HOLDINGS GBP Shares/Units in investment funds France BNP PARIBAS CASH INVEST - CLASSIC EUR Total securities portfolio Page 148

151 Equity Europe Small Cap Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United Kingdom BERENDSEN PLC GBP BRITVIC PLC GBP DERWENT LONDON PLC GBP DS SMITH PLC GBP GREGGS PLC GBP HANSTEEN HOLDINGS PLC GBP HOMESERVE SHS GBP IG GROUP HOLDINGS PLC GBP INCHCAPE PLC GBP INFORMA PLC GBP MICRO FOCUS INTERNATIONAL GBP MONEYSUPERMARKET.COM GBP NATIONAL EXPRESS GROUP PLC GBP SPIRAX-SARCO ENGINEERING PLC GBP UBM PLC GBP WH SMITH PLC GBP France ALTRAN TECHNOLOGIES SA EUR FAURECIA EUR IPSEN EUR PLASTIC OMNIUM EUR SEB SA EUR TECHNICOLOR - REGR EUR TELEPERFORMANCE EUR WORLDLINE SA - W/I EUR Sweden AXFOOD AB SEK CASTELLUM AB SEK COM HEM HOLDING AB - W/I SEK FABEGE AB SEK HEXPOL AB SEK INTRUM JUSTITIA AB SEK LOOMIS AB - B SEK MODERN TIMES GROUP - B SEK PEAB AB SEK Germany ALSTRIA OFFICE REIT AG EUR BECHTLE AG EUR FREENET AG EUR GERRESHEIMER AG EUR JUNGHEINRICH - PRFD EUR LEG IMMOBILIEN AG EUR MTU AERO ENGINES AG EUR NORMA GROUP SE EUR Switzerland BANQUE CANTONALE VAUDOIS - REG CHF FLUGHAFEN ZUERICH AG - REG CHF IMPLENIA AG - REG CHF LOGITECH INTERNATIONAL - REG CHF SUNRISE COMMUNICATIONS GROUP CHF Italy A2A SPA EUR CERVED INFORMATION SOLUTIONS EUR EI TOWERS SPA EUR RECORDATI SPA EUR Ireland DCC PLC GBP KINGSPAN GROUP PLC EUR SMURFIT KAPPA GROUP PLC EUR Finland HUHTAMAKI OYJ EUR KESKO OYJ - B EUR METSA BOARD OYJ EUR Denmark ROYAL UNIBREW DKK Portugal CTT-CORREIOS DE PORTUGAL EUR Jersey Island PHOENIX GROUP HOLDINGS GBP The Netherlands CORBION NV EUR Isle of Man PAYSAFE GROUP PLC GBP Spain PROSEGUR COMPANIA DE SEGURIDAD EUR Shares/Units in investment funds France BNP PARIBAS CASH INVEST - I - CAP EUR Total securities portfolio Page 149

152 Equity Europe Value Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares France ALTRAN TECHNOLOGIES SA EUR ATOS SE EUR AXA SA EUR BNP PARIBAS EUR CAP GEMINI EUR COMPAGNIE DE SAINT GOBAIN EUR CREDIT AGRICOLE SA EUR ELIOR GROUP EUR GROUPE FNAC EUR KERING EUR NATIXIS EUR NEXANS SA EUR ORPEA EUR PUBLICIS GROUPE EUR RENAULT SA EUR SANOFI AVENTIS EUR SOCIETE GENERALE SA EUR TARKETT - W/I EUR TOTAL SA EUR VALLOUREC SA EUR VEOLIA ENVIRONNEMENT EUR VINCI SA EUR Germany ALLIANZ SE - REG EUR DAIMLER AG-REGISTERED SHARES EUR DEUTSCHE TELEKOM AG - REG EUR FRESENIUS MEDICAL CARE AG EUR GERRESHEIMER AG EUR LINDE AG EUR MERCK KGAA EUR METRO AG EUR RWE AG EUR SALZGITTER AG EUR THYSSENKRUPP AG EUR WIRECARD AG EUR United Kingdom ANGLO AMERICAN PLC GBP ASTRAZENECA PLC GBP BP PLC GBP HSBC HOLDINGS PLC GBP PRUDENTIAL PLC GBP RIO TINTO PLC GBP Italy ASSICURAZIONI GENERALI EUR BANCO POPOLARE SC EUR BUZZI UNICEM SPA EUR ENI SPA EUR INTESA SANPAOLO EUR IREN SPA EUR ITALGAS SPA EUR SAIPEM SPA EUR SNAM SPA EUR TELECOM ITALIA SPA EUR UNICREDIT SPA EUR The Netherlands HEINEKEN NV EUR ING GROEP NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR RANDSTAD HOLDING NV EUR ROYAL DUTCH SHELL PLC - A GBP Switzerland LAFARGEHOLCIM LTD - REG CHF NESTLE SA - REG CHF NOVARTIS AG - REG CHF ZURICH INSURANCE GROUP AG CHF Belgium KBC GROEP NV EUR SOLVAY SA EUR Finland AMER SPORTS OYJ EUR OUTOKUMPU OYJ EUR Ireland CRH PLC EUR SHIRE PLC GBP Spain BANCO BILBAO VIZCAYA ARGENTA EUR GAMESA CORP TECNOLOGICA SA EUR Luxembourg ARCELORMITTAL EUR Austria WIENERBERGER AG EUR Total securities portfolio Page 150

153 Equity Germany Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Germany ADIDAS AG EUR ALLIANZ SE - REG EUR BASF SE EUR BAYER AG - REG EUR BAYERISCHE MOTOREN WERKE AG EUR BEIERSDORF AG EUR CONTINENTAL AG EUR COVESTRO AG EUR DAIMLER AG-REGISTERED SHARES EUR DEUTSCHE LUFTHANSA - REG EUR DEUTSCHE POST AG - REG EUR DEUTSCHE TELEKOM AG - REG EUR DEUTSCHE WOHNEN AG - BR EUR E.ON SE EUR FRAPORT AG FRANKFURT AIRPORT EUR FRESENIUS SE & CO KGAA EUR HANNOVER RUECK SE EUR HEIDELBERGCEMENT AG EUR HENKEL AG & CO KGAA VORZUG EUR HOCHTIEF AG EUR HUGO BOSS AG - ORD EUR INFINEON TECHNOLOGIES AG EUR INNOGY SE EUR MERCK KGAA EUR MUENCHENER RUECKVER AG - REG EUR PROSIEBEN SAT.1 MEDIA SE EUR RWE AG EUR SAP SE EUR SIEMENS AG - REG EUR SYMRISE AG EUR ZALANDO SE EUR Luxembourg RTL GROUP EUR Total securities portfolio Page 151

154 Equity High Dividend Pacific Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Australia AGL ENERGY LTD AUD AMCOR LTD AUD AMP LTD AUD APA GROUP AUD AUST AND NZ BANKING GROUP AUD BHP BILLITON LTD AUD BRAMBLES LTD AUD CARSALES.COM LTD AUD COMMONWEALTH BANK OF AUSTRALIA AUD COMPUTERSHARE LTD AUD DULUXGROUP LTD AUD FAIRFAX MEDIA LTD AUD G8 EDUCATION LTD AUD MACQUARIE GROUP LTD AUD NATIONAL AUSTRALIA BANK LTD AUD ORORA LTD AUD QUBE HOLDINGS LTD AUD SONIC HEALTHCARE LTD AUD SPARK INFRASTRUCTURE GROUP AUD SUNCORP GROUP LTD AUD SYDNEY AIRPORT AUD TELSTRA CORP LTD AUD TRANSURBAN GROUP AUD WESTPAC BANKING CORP AUD Japan ASAHI INTECC CO LTD JPY CANON INC JPY CHUGOKU ELECTRIC POWER CO JPY DAIWA SECURITIES GROUP INC JPY FANUC CORP JPY HOKURIKU ELECTRIC POWER CO JPY ITOCHU CORP JPY JX HOLDINGS INC JPY LAWSON INC JPY MANI INC JPY MARUBENI CORP JPY MIRACA HOLDINGS INC JPY MIZUHO FINANCIAL GROUP INC JPY MS&AD INSURANCE GROUP HOLDING JPY NIHON KOHDEN CORP JPY NIPPON TELEGRAPH & TELEPHONE JPY NISSAN MOTOR CO LTD JPY NITORI HOLDINGS CO LTD JPY RICOH CO LTD JPY SUMITOMO CORP JPY SUMITOMO MITSUI FINANCIAL GR JPY SUMITOMO MITSUI TRUST HOLDINGS JPY TOYOTA MOTOR CORP JPY Hong Kong BOC HONG KONG HOLDINGS LTD HKD CHEUNG KONG INFRASTRUCTURE HKD CK HUTCHISON HOLDINGS LTD HKD CLP HOLDINGS LTD HKD DAH SING BANKING GROUP LTD HKD DAH SING FINANCIAL HOLDINGS HKD HANG SENG BANK LTD HKD HK ELECTRIC INVESTMENTS -SS HKD HKT TRUST AND HKT LTD HKD MTR CORP HKD PCCW LTD HKD POWER ASSETS HOLDINGS LTD HKD WATER OASIS GROUP LTD HKD New Zealand AUCKLAND INTL AIRPORT LTD NZD FLETCHER BUILDING LTD NZD SPARK NEW ZEALAND LTD NZD India BAJAJ ELECTRICALS LTD INR COROMANDEL INTERNATIONAL LTD INR HINDUSTAN PETROLEUM CORP INR MCLEOD RUSSEL INDIA LTD INR OIL & NATURAL GAS CORP LTD INR PHILLIPS CARBON BLACK LTD INR TUBE INVESTMENTS OF INDIA INR Taiwan CHUNGHWA TELECOM CO LTD TWD CTCI CORP TWD PACIFIC HOSPITAL SUPPLY CO TWD TAIWAN SEMICONDUCTOR MANUFAC TWD South Korea HYUNDAI MOTOR CO KRW HYUNDAI MOTOR CO LTD PRF KRW KT CORP KRW SK INNOVATION CO LTD KRW SK TELECOM KRW Indonesia BANK RAKYAT INDONESIA PERSER IDR TELEKOMUNIKASI INDONESIA PER IDR Malaysia MAXIS BHD MYR PUBLIC BANK BERHAD MYR Philippines PLDT INC PHP SECURITY BANK CORP PHP United Kingdom CYBG PLC AUD Thailand ADVANCED INFORMATION TE-NVDR THB Total securities portfolio Page 152

155 Equity High Dividend USA Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America AIRCASTLE LTD USD AMERIGAS PARTNERS - LP USD AMGEN INC USD BB&T CORP USD CARDINAL HEALTH INC USD CEDAR FAIR LP USD CHEVRON CORP USD CINEMARK HOLDINGS INC USD CNA FINANCIAL CORP USD COMMUNICATIONS SALES + LE USD COMPASS MINERALS INTERNATION USD CORNING INC USD DINEEQUITY INC USD EMERSON ELECTRIC CO USD EXXON MOBIL CORP USD FASTENAL CO USD GEO GROUP INC/THE USD INTEL CORP USD IRON MOUNTAIN INC USD JOHNSON CONTROLS INTERNATIONAL USD KIMBERLY-CLARK CORP USD LYONDELLBASELL INDU - A USD MAGELLAN MIDSTREAM PARTNERS USD METLIFE INC USD MICROSOFT CORP USD MOTOROLA SOLUTIONS INC USD NATIONAL FUEL GAS CO USD OCCIDENTAL PETROLEUM CORP USD OMNICOM GROUP USD OWENS AND MINOR INC USD PEPSICO INC USD PNC FINANCIAL SERVICES GROUP USD POLARIS INDUSTRIES INC USD PRAXAIR INC USD QUALCOMM INC USD RYMAN HOSPITALITY PROPERTIES USD SABRA HEALTH CARE REIT INC USD SPECTRA ENERGY PARTNERS LP USD TARGET CORP USD THOMSON REUTERS CORP USD TIME WARNER INC USD UNION PACIFIC CORP USD UNITED PARCEL SERVICE- CL B USD US BANCORP USD VALERO ENERGY CORP USD VECTREN CORP USD VENTAS INC USD VERIZON COMMUNICATIONS INC USD WELLS FARGO & CO USD WESTERN UNION CO USD WEYERHAEUSER CO USD WW GRAINGER INC USD Switzerland TE CONNECTIVITY LTD USD United Kingdom UNILEVER PLC - SPONSORED ADR USD Bermuda AXIS CAPITAL HOLDINGS LTD USD Total securities portfolio Page 153

156 Equity High Dividend World Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABBOTT LABORATORIES USD ALPHABET INC - C USD ALTRIA GROUP INC USD AMAZON.COM INC USD ANNALY CAPITAL MANAGEMENT USD ARTHUR J GALLAGHER & CO USD CELGENE CORP USD CISCO SYSTEMS INC USD CITRIX SYSTEMS INC USD COGNIZANT TECH SOLUTIONS - A USD COMCAST CORP - A USD COSTCO WHOLESALE CORP USD CUMMINS INC USD EXXON MOBIL CORP USD GENERAL ELECTRIC CO USD HASBRO INC USD HESS CORP USD JOHNSON & JOHNSON USD KKR & CO LP USD LAS VEGAS SANDS CORP USD MARSH & MCLENNAN COS USD MASTERCARD INC - A USD MERCK & CO INC USD POLARIS INDUSTRIES INC USD REYNOLDS AMERICAN INC USD S&P GLOBAL INC USD SABRE CORP USD SERVICEMASTER GLOBAL HOLDING USD TANGER FACTORY OUTLET CENTERS USD ZIMMER BIOMET HOLDINGS INC USD United Kingdom AON PLC USD AVIVA PLC GBP BRITISH AMERICAN TOBACCO PLC GBP BT GROUP PLC GBP HSBC HOLDINGS PLC GBP KINGFISHER PLC GBP LEGAL & GENERAL GROUP PLC GBP SKY PLC GBP SMITHS GROUP PLC GBP UNILEVER NV - CVA EUR Switzerland NOVARTIS AG - REG CHF ROCHE HOLDING AG GENUSSCHEIN CHF The Netherlands ASML HOLDING NV EUR KONINKLIJKE KPN NV EUR ROYAL DUTCH SHELL PLC - A EUR SENSATA TECHNOLOGIES HOLDING USD Australia COMMONWEALTH BANK OF AUSTRALIA AUD SONIC HEALTHCARE LTD AUD Canada ALIMENTATION COUCHE-TARD - B CAD RIOCAN REAL ESTATE INVEST TRUST CAD China ALIBABA GROUP HOLDING-SP ADR USD BAIDU INC - SPON ADR USD CHINA CONSTRUCTION BANK - H HKD TENCENT HOLDINGS LTD HKD Germany BAYER AG - REG EUR SAP SE EUR Finland NOKIA OYJ EUR Norway TELENOR ASA NOK Sweden NORDEA BANK AB SEK Spain ENDESA SA EUR South Korea KT&G CORP KRW France ALSTOM EUR Hong Kong AIA GROUP LTD HKD Singapore DBS GROUP HOLDINGS LTD SGD India YES BANK LTD INR Taiwan TAIWAN SEMICONDUCTOR - SP ADR USD Total securities portfolio Page 154

157 Equity India Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares India ACC LTD INR ADITYA BIRLA FASHION AND RET INR ALKEM LABORATORIES LTD INR AMBUJA CEMENTS LTD INR ASIAN PAINTS LTD INR AXIS BANK LTD INR BHARAT ELECTRONICS LTD INR BHARTI AIRTEL LTD INR BRITANNIA INDUSTRIES LTD INR CHOLAMANDALAM INVESTMENT AND INR COAL INDIA LTD INR CREDIT ANALYSIS & RESEARCH INR DIVIS LABORATORIES LTD INR FAG BEARINGS INDIA LTD INR FEDERAL BANK LTD INR GODREJ CONSUMER PRODUCTS LTD INR GUJARAT STATE PETRONET LTD INR HDFC BANK LTD INR HDFC BANK LTD - ADR USD HERO MOTOCORP LTD INR ICICI BANK LTD INR IDEA CELLULAR LTD INR INDUSIND BANK LTD INR INFOSYS LTD INR INTERGLOBE AVIATION LTD INR JET AIRWAYS INDIA LTD INR JUST DIAL LTD INR JYOTHY LABORATORIES LTD INR KOTAK MAHINDRA BANK LTD INR LUPIN LTD INR MAHINDRA & MAHINDRA FIN SECS INR MANPASAND BEVERAGES LTD INR MARUTI SUZUKI INDIA LTD INR MAX INDIA LIMITED INR MOTHERSON SUMI SYSTEMS LTD INR PNB HOUSING FINANCE LTD INR POWER GRID CORP OF INDIA LTD INR PVR LTD INR REPCO HOME FINANCE LTD INR SHRIRAM CITY UNION FINANCE INR SHRIRAM TRANSPORT FINANCE INR STATE BANK OF INDIA INR SUN PHARMACEUTICAL INDUSTRIES INR TATA MOTORS LTD INR TEXMACO RAIL & ENGINEERING INR ULTRATECH CEMENT LTD INR UNITED SPIRITS LTD INR VA TECH WABAG LTD INR VEDANTA LTD INR VRL LOGISTICS LTD INR YES BANK LTD INR ZEE ENTERTAINMENT ENTERPRISE INR Total securities portfolio Page 155

158 Equity Indonesia Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Indonesia ADHI KARYA PERSERO TBK PT IDR ASTRA AGRO LESTARI TBK PT IDR ASTRA INTERNATIONAL TBK PT IDR BANK CENTRAL ASIA TBK PT IDR BANK MANDIRI PERSERO TBK PT IDR BANK NEGARA INDONESIA PERSER IDR BANK RAKYAT INDONESIA PERSER IDR BANK TABUNGAN NEGARA PERSERO IDR BLUE BIRD TBK PT IDR BUMI SERPONG DAMAI PT IDR CHAROEN POKPHAND INDONESI PT IDR CIPUTRA DEVELOPMENT TBK PT IDR CIPUTRA PROPERTY TBK PT IDR GUDANG GARAM TBK PT IDR HM SAMPOERNA TBK PT IDR INDOFOOD CBP SUKSES MAKMUR T IDR INDOFOOD SUKSES MAKMUR TBK P IDR INDOSAT TBK PT IDR JASA MARGA (PERSERO) TBK PT IDR KALBE FARMA TBK PT IDR MATAHARI DEPARTMENT STORE TB IDR MITRA KELUARGA KARYASEHAT TB IDR PEMBANGUNAN PERUMAHAN PERSER IDR PERUSAHAAN GAS NEGARA PERSER IDR PRODIA WIDYAHUSADA TBK PT IDR PURADELTA LESTARI TBK PT IDR SEMEN INDONESIA PERSERO TBK IDR SILOAM INTERNATIONAL HOSPITA IDR SUMBER ALFARIA TRIJAYA TBK IDR SURYA CITRA MEDIA PT TBK IDR TAMBANG BATUBARA BUKIT ASAM IDR TELEKOMUNIKASI INDONESIA PER IDR UNILEVER INDONESIA TBK PT IDR UNITED TRACTORS TBK PT IDR WIJAYA KARYA BETON TBK PT IDR WIJAYA KARYA PERSERO TBK PT IDR XL AXIATA TBK PT IDR Total securities portfolio Page 156

159 Equity Japan Expressed in JPY Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Japan AI HOLDINGS CORP JPY AISIN SEIKI CO LTD JPY ASKUL CORP JPY CENTRAL JAPAN RAILWAY CO JPY COCA-COLA WEST CO LTD JPY CREDIT SAISON CO LTD JPY DAICEL CORP JPY DAIFUKU CO LTD JPY DAITO TRUST CONSTRUCTION CO LTD JPY EISAI CO LTD JPY EN-JAPAN INC JPY FUJI ELECTRIC HOLDINGS CO LTD JPY FUJI HEAVY INDUSTRIES LTD JPY FUJITSU LTD JPY FUKUOKA FINANCIAL GROUP INC JPY GUNMA BANK LTD/THE JPY HITACHI KOKUSAI ELECTRIC INC JPY HITACHI METALS LTD JPY HONDA MOTOR CO LTD JPY ITOCHU CORP JPY JAFCO CO LTD JPY JAPAN AIRLINES CO LTD JPY JAPAN TOBACCO INC JPY JGC CORP JPY KANDENKO CO LTD JPY KANSAI PAINT CO LTD JPY KAO CORP JPY KIRIN HOLDINGS CO LTD JPY KONAMI HOLDINGS CORP JPY MAEDA CORP JPY MITSUBISHI CHEMICAL HOLDINGS JPY MITSUBISHI ESTATE CO LTD JPY MITSUBISHI HEAVY INDUSTRIES JPY MITSUBISHI UFJ FINANCIAL GROUP JPY MITSUI & CO LTD JPY MORINAGA MILK INDUSTRY CO JPY NEC CORP JPY NGK INSULATORS LTD JPY NIDEC CORP JPY NIKON CORP JPY NINTENDO CO LTD JPY NIPPON LIGHT METAL HOLDINGS JPY NIPPON TELEGRAPH & TELEPHONE JPY NOMURA HOLDINGS INC JPY ORIX CORP JPY OTSUKA HOLDINGS CO LTD JPY OUTSOURCING INC JPY POLA ORBIS HOLDINGS INC JPY RELO GROUP INC JPY RESONA HOLDINGS INC JPY ROHM CO LTD JPY SANKYU INC JPY SEVEN & I HOLDINGS CO LTD JPY SMC CORP JPY SOFTBANK GROUP CORP JPY SOMPO HOLDINGS INC JPY SUMITOMO METAL MINING CO LTD JPY SUMITOMO MITSUI FINANCIAL GR JPY SUZUKI MOTOR CORP JPY T&D HOLDINGS INC JPY TEIJIN LTD JPY TIS INC JPY TOKYO ELECTRON LTD JPY TOKYO TATEMONO CO LTD JPY TOMY COMPANY LTD JPY TORAY INDUSTRIES INC JPY TOYOTA BOSHOKU CORP JPY UNIZO HOLDINGS CO LTD JPY Total securities portfolio Page 157

160 Equity Japan Small Cap Expressed in JPY Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Japan ABIST CO LTD JPY AI HOLDINGS CORP JPY AIDA ENGINEERING LTD JPY AJIS CO LTD JPY ATEAM INC JPY BELC CO LTD JPY BRANGISTA INC JPY CASIO COMPUTER CO LTD JPY CAWACHI LTD JPY CENTRAL GLASS CO LTD JPY CKD CORP JPY CMK CORP JPY COMPUTER ENGINEER & CONSULT JPY COMTURE CORP JPY CREDIT SAISON CO LTD JPY CRESCO LTD JPY CTS CO LTD JPY DAIFUKU CO LTD JPY DAIHEN CORP JPY DAIHO CORP JPY DAIKI ALUMINIUM INDUSTRY CO JPY DAISEKI ECO. SOLUTION CO LTD JPY DIC CORP JPY DOWA HOLDINGS CO LTD JPY EBARA CORP JPY EGUARANTEE INC JPY EIKEN CHEMICAL CO LTD JPY FENWAL CONTROLS OF JAPAN LTD JPY FUJI ELECTRIC HOLDINGS CO LTD JPY FUJI KIKO CO LTD JPY FUJIMORI KOGYO CO LTD JPY FUKUI COMPUTER HOLDINGS INC JPY FURUKAWA CO LTD JPY FURYU CORP JPY GFOOT CO LTD JPY GLOBAL GROUP INC JPY GMO INTERNET INC JPY GUNMA BANK LTD/THE JPY H I S CO LTD JPY HABA LABORATORIES INC JPY HAZAMA ANDO CORP JPY HEARTS UNITED GROUP CO LTD JPY HIBINO CORP JPY HIRATA CORP JPY HITACHI CAPITAL CORP JPY HONDA TSUSHIN KOGYO CO LTD JPY HORIBA LTD JPY IBJ INC JPY ICHIYOSHI SECURITIES CO LTD JPY I-NET CORP JPY INFOCOM CORP JPY INTERNET INITIATIVE JAPAN JPY IRISO ELECTRONICS CO LTD JPY ITMEDIA INC JPY IVY COSMETICS CORP JPY JAPAN MATERIAL CO LTD JPY JUSTSYSTEMS CORP JPY KAKAKU.COM INC JPY KANAMIC NETWORK CO LTD JPY KASAI KOGYO CO LTD JPY KEEPER TECHNICAL LABORATORY JPY KI-STAR REAL ESTATE CO LTD JPY KYUDENKO CORP JPY LAC CO LTD JPY LINK AND MOTIVATION INC JPY LINTEC CORP JPY MAEDA KOSEN CO LTD JPY MARUWA CO LTD JPY MATSUMOTOKIYOSHI HOLDINGS CO JPY MIMAKI ENGINEERING CO LTD JPY MINEBEA CO LTD JPY MITSUBA CORP JPY MITSUI MINING & SMELTING CO JPY NABTESCO CORP JPY NEXTAGE CO LTD JPY NEXYZ GROUP CORP JPY NICHIRIN CO LTD JPY NIFCO INC/JAPAN JPY NIHON PLAST CO LTD JPY NIHON TOKUSHU TORYO CO LTD JPY NIPPON SEISEN CO LTD JPY NIPPON SYSTEMWARE CO LTD JPY NISHIMATSUYA CHAIN CO LTD JPY NISSEI ASB MACHINE CO LTD JPY NISSEI BUILD KOGYO CO LTD JPY NISSHA PRINTING CO LTD JPY NITTAN VALVE CO LTD JPY OPEN HOUSE CO LTD JPY OSAKA SODA CO LTD JPY OSAKI ELECTRIC CO LTD JPY PALTAC CORP JPY PIOLAX INC JPY PRESSANCE CORP JPY PRESTIGE INTERNATIONAL INC JPY RIKEN TECHNOS CORP JPY RION CO LTD JPY SAKAI HEAVY INDUSTRIES LTD JPY SAKAI MOVING SERVICE CO LTD JPY SANDEN HOLDINGS CORP JPY SANYO DENKI CO LTD JPY SBI HOLDINGS INC JPY SCREEN HOLDINGS CO LTD JPY SEIREN CO LTD JPY SEVEN BANK LTD JPY SHIBAURA ELECTRONICS CO LTD JPY SHINNIHON CORP JPY SHINOKEN GROUP CO LTD JPY SINFONIA TECHNOLOGY CO LTD JPY SINKO INDUSTRIES LTD JPY SODICK CO LTD JPY SOLITON SYSTEMS KK JPY SOURCENEXT CORP JPY STARTS CORP INC JPY SUMITOMO OSAKA CEMENT CO LTD JPY SUN CORP JPY SYSTENA CORP JPY TADANO LTD JPY Page 158

161 Equity Japan Small Cap Expressed in JPY TAIYO KOKI CO LTD JPY TAIYO YUDEN CO LTD JPY TAKEEI CORP JPY TAMURA CORP JPY TECHMATRIX CORPORATION JPY TEIJIN LTD JPY TEMP HOLDINGS CO LTD JPY THK CO LTD JPY TIS INC JPY TOELL CO LTD JPY TOKAI HOLDINGS CORP JPY TOKAI RIKA CO LTD JPY TOKYO RADIATOR MFG CO LTD JPY TORIDOLL HOLDINGS CORP JPY TOSHIBA PLANT SYSTEMS + SERV JPY TOWA CORP JPY TOYO CONSTRUCTION CO LTD JPY TOYODA GOSEI CO LTD JPY TPR CO LTD JPY UBE INDUSTRIES LTD JPY UNIZO HOLDINGS CO LTD JPY V TECHNOLOGY CO LTD JPY WDB HOLDINGS CO LTD JPY WEST HOLDINGS CORP JPY WORLD HOLDINGS CO LTD JPY W-SCOPE CORP JPY Y A C CO LTD JPY YAKUODO CO LTD JPY YAMADA CONSULTING GROUP CO L JPY YOKOGAWA ELECTRIC CORP JPY YOKOWO CO LTD JPY ZENKOKU HOSHO CO LTD JPY Total securities portfolio Page 159

162 Equity Latin America Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Brazil AES TIETE ENERGIA SA - UNIT BRL ALUPAR INVESTIMENTO SA - UNIT BRL AMBEV SA BRL AMBEV SA - ADR USD BANCO BRADESCO SA BRL BANCO BRADESCO SA-PREF BRL BANCO BRADESCO-ADR USD BB SEGURIDADE PARTICIPACOES BRL BM&FBOVESPA SA BRL BR MALLS PARTICIPACOES SA BRL BRF SA BRL BRF SA-ADR USD CETIP SA-MERCADOS ORGANIZADO BRL CIA BRASILEIRA DE DIS-PREF BRL CIA ENERGETICA DE SP-PREF B BRL CIA ENERGETICA MINAS GER-PRF BRL CIA SANEAMENTO BASICO DE SP BRL CIA SANEAMENTO DO PARANA-PRF BRL CIELO SA BRL COSAN LOGISTICA SA BRL COSAN LTD - A SHARES USD COSAN SA INDUSTRIA COMERCIO BRL ENERGISA SA - UNITS BRL ESTACIO PARTICIPACOES SA BRL GERDAU SA - PREF BRL HYPERMARCAS SA BRL ITAU UNIBANCO HOLDING S-PREF BRL ITAU UNIBANCO H-SPON PRF ADR USD ITAUSA INVESTIMENTOS ITAU-PR BRL KLABIN SA - UNIT BRL KROTON EDUCACIONAL SA BRL LOJAS AMERICANAS SA-PREF BRL MINERVA SA BRL PETROBRAS - PETROLEO BRAS BRL PETROBRAS - PETROLEO BRAS-PR BRL PETROLEO BRASILEIRO - SPON ADR USD PETROLEO BRASIL-SP PREF ADR USD QUALICORP SA BRL RUMO LOGISTICA OPERADORA MUL BRL SUZANO PAPEL E CELULO - PREF A BRL TELEFONICA BRASIL - ADR USD VALE SA BRL VALE SA-PREF BRL VALE SA-SP ADR USD WEG SA BRL Mexico ALFA S.A.B.-A MXN ALSEA SAB DE CV MXN AMERICA MOVIL SAB DE C-SER L MXN AMERICA MOVIL-SPN ADR CL L USD CEMEX SAB - CPO MXN CEMEX SAB-SPONS ADR PART CER USD CORP INMOBILIARIA VESTA SAB MXN EL PUERTO DE LIVERPOOL-C1 MXN FOMENTO ECONOMICO MEX-SP ADR USD GRUPO AEROPORTUARIO DEL CENT MXN GRUPO FIN SANTANDER - B MXN GRUPO FINANCIERO BANORTE - O MXN GRUPO FINANCIERO INBURSA - O MXN GRUPO LALA SAB DE CV MXN GRUPO TELEVISA SAB-SER CPO MXN GRUPO TELEVISA SA-SPON ADR USD HOTELES CITY EXPRESS SAB DE MXN INFRAESTRUCTURA ENERGETICA MXN KIMBERLY-CLARK DE MEXICO - A MXN MACQUARIE MEXICO REAL ESTATE MXN PROMOTORA Y OPERADORA DE INF MXN PROMOTORA Y OPERADORA DE INF-L MXN TELESITES SAB DE CV MXN Chile BANCO SANTANDER CHILE CLP COLBUN SA CLP EMPRESAS COPEC SA CLP ENDESA AMERICAS SA - ADR USD ENEL AMERICAS SA CLP ENEL AMERICAS SA - ADR USD ENEL CHILE SA USD ENEL GENERACION CHILE - SA ADR USD ENEL GENERACION CHILE SA CLP ITAU CORPBANCA CLP LATAM AIRLINES GROUP SA CLP S.A.C.I. FALABELLA CLP Peru CREDICORP LTD USD Colombia BANCOLOMBIA S.A.-SPONS ADR USD Spain CEMEX LATAM HOLDINGS SA COP Floating rate bonds Brazil VALE DO RIO DOCE 97-29/12/2049 FRN BRL Other transferable securities Shares Brazil TECNISA SA BRL Convertible bonds Brazil KLABIN SA % 13-08/01/ SUBR CV BRL Total securities portfolio Page 160

163 Equity New Frontiers Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Indonesia BANK CENTRAL ASIA TBK PT IDR GUDANG GARAM TBK PT IDR MATAHARI DEPARTMENT STORE TB IDR SUMBER ALFARIA TRIJAYA TBK IDR TELEKOMUNIK INDONESIA - SP ADR USD Thailand AIRPORTS OF THAILAND PCL-FOR THB CENTRAL PLAZA HOTEL PCL-FRGN THB KASIKORNBANK PCL-FOREIGN THB PTT GLOBAL CHEMICAL PCL - FOR THB SIAM CEMENT PUB CO - FOR REG THB Kenya EAST AFRICAN BREWERIES LTD KES KCB GROUP LTD KES SAFARICOM LTD KES United Arab Emirates DP WORLD LTD USD EMAAR MALLS PJSC AED EMAAR PROPERTIES PJSC AED FIRST GULF BANK AED MEDICLINIC INTERNATIONAL PLC GBP Peru CEMENTOS PACASMAYO SAA-CMN PEN CREDICORP LTD USD Malaysia AXIATA GROUP BERHAD MYR BERMAZ AUTO BHD MYR IHH HEALTHCARE BHD MYR IJM CORP BHD MYR MY EG SERVICES BHD MYR Philippines AYALA CORPORATION PHP INTL CONTAINER TERM SVCS INC PHP UNIVERSAL ROBINA CORP PHP Argentina GRUPO FINANCIERO GALICIA - ADR USD MERCADOLIBRE INC USD YPF S.A.-SPONSORED ADR USD Qatar DOHA BANK QSC QAR QATAR NATIONAL BANK QAR Egypt COMMERCIAL INTERNATIONAL BANK GDR REG USD EDITA FOOD INDUSTRIES - REG S USD Nigeria DANGOTE CEMENT PLC NGN GUARANTY TRUST BANK NGN NIGERIAN BREWERIES PLC NGN Spain BANCO SANTANDER-CHILE - ADR USD Colombia BANCOLOMBIA S.A.-SPONS ADR USD Canada GRAN TIERRA ENERGY INC CAD Chile FORUS SA CLP The Netherlands NOSTRUM OIL + GAS PLC GBP Luxembourg GLOBANT SA USD Singapore KRISENERGY LTD SGD Warrants, Rights MERRILL CW 02/03/2017 AL RAJHI BA USD MERRILL CW 02/03/2017 ALMARAI CO USD MERRILL CW 17/12/2018 SAIGON BEER USD MERRILL CW 20/08/2019 MASAN GROUP USD Other transferable securities Warrants, Rights KRISENERGY LTD-RTS 16/01/2017 USD Total securities portfolio Page 161

164 Equity Nordic Small Cap Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market TOMRA SYSTEMS ASA NOK VEIDEKKE ASA NOK XXL ASA NOK Shares Finland AMER SPORTS OYJ EUR Sweden CARGOTEC OYJ - B SHARE EUR ALLIGATOR BIOSCIENCE AB SEK BETSSON AB SEK CRAMO OYJ EUR BIOTAGE AB SEK KONECRANES OYJ EUR BOLIDEN AB SEK LEHTO GROUP OYJ EUR BOULE DIAGNOSTICS INTERNATIO SEK ORIOLA-KD OYJ B SHARES EUR BUFAB HOLDING AB SEK PIHLAJALINNA OYJ EUR BULTEN AB SEK PKC GROUP OYJ EUR CHRISTIAN BERNER TECH TRADE SEK PONSSE OYJ EUR DOMETIC GROUP AB SEK UPONOR OYJ EUR EDGEWARE AB SEK VAISALA OYJ- A EUR ELEKTA AB - B SEK Denmark FABEGE AB SEK ALK-ABELLO A/S DKK FAGERHULT AB SEK AMBU A/S DKK FASTIGHETS AB BALDER - B SEK FLSMIDTH & CO A/S DKK FINGERPRINT CARDS AB - B SEK NNIT A/S DKK G5 ENTERTAINMENT AB SEK SCHOUW & CO DKK GRANGES AB SEK SIMCORP A/S DKK HANSA MEDICAL AB SEK SYDBANK A/S DKK HOIST FINANCE AB SEK Bermuda HUMANA AB - W/I SEK VOSTOK NEW VENTURES LTD SDR SEK IMMUNOVIA AB SEK Faeroe Islands INTRUM JUSTITIA AB SEK BAKKAFROST P/F NOK KAPPAHL AB SEK United Kingdom KLOEVERN AB - B SEK CONCENTRIC AB SEK KUNGSLEDEN AB SEK ENQUEST PLC SEK MAGNOLIA BOSTAD AB SEK MUNKSJO OYJ EUR Singapore NCC HOUSING - B SEK BW LPG LTD NOK NILORNGRUPPEN AB - B SEK Other transferable securities NOBIA AB SEK NOBINA AB SEK Shares NORDAX GROUP AB SEK Denmark NORDIC WATERPROOFING HOL SEK SJAELSO GRUPPEN DKK NP3 FASTIGHETER AB SEK ODD MOLLY INTERNATIONAL AB SEK Total securities portfolio RECIPHARM AB - B SEK RESURS HOLDING AB SEK SCANDIC HOTELS GROUP AB - W/I SEK SEMCON AB SEK SERNEKE GROUP AB SEK SWEDISH ORPHAN BIOVITRUM AB SEK THQ NORDIC AB SEK TOBII AB - W/I SEK TOBIN PROPERTIES AB SEK TRELLEBORG AB - B SEK VICTORIA PARK AB - B SEK Norway BORREGAARD ASA NOK LEROEY SEAFOOD GROUP ASA NOK MULTICONSULT ASA NOK PROTECTOR FORSIKRING ASA NOK SELVAAG BOLIG AS NOK SPAREBANK 1 SR BANK ASA NOK TGS NOPEC GEOPHYSICAL CO ASA NOK Page 162

165 Equity Russia Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Russia ACRON PJSC RUB ALROSA PAO RUB GAZPROM NEFT - SPONSORED ADR USD GAZPROM PAO RUB INTER RAO UES PJSC RUB KUZBASSKAYA TOPLIVNAYA CO RUB LUGA ABRASIVE PLANT-BRD USD LUKOIL PJSC RUB M VIDEO PAO RUB MAGNIT PJSC RUB MAGNIT PJSC-SPON GDR REGS USD MEGAFON - REG GDR USD MMC NORILSK NICKEL PJSC RUB MMC NORILSK NICKEL PJSC - ADR USD MOBILE TELESYSTEMS PJSC RUB MOBILE TELESYSTEMS-SP ADR USD MOSCOW EXCHANGE MICEX - RTS RUB NOVATEK PJSC RUB PHOSAGRO OAO - GDR REG USD POLYMETAL INTERNATIONAL - W/I GBP ROSNEFT OIL CO PJSC RUB SBERBANK OF RUSSIA PJSC RUB SBERBANK-PREFERENCE RUB SEVERSTAL PAO RUB SURGUTNEFTEGAS-PREFERENCE RUB TATNEFT - PREF 3 SERIES RUB UNIPRO PJSC RUB The Netherlands VIMPELCOM LTD-SPON ADR USD Cyprus GLOBALTRA-SPONS GDR REGS USD Switzerland LUXOFT HOLDING INC USD Guernsey Island ETALON GROUP-GDR REGS - W/I USD Kazakhstan KCELL JSC - REGS - W/I USD Shares/Units in investment funds Luxembourg PARVEST EQUITY RUSSIA OPPORTUNITIES X - CAP USD Total securities portfolio Page 163

166 Equity Russia Opportunities Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Russia ACRON PJSC RUB ALROSA PAO RUB ENEL RUSSIA PJSC RUB GAZPROM NEFT - SPONSORED ADR USD GAZPROM PAO RUB INTER RAO UES PJSC RUB LUKOIL PJSC RUB M VIDEO PAO RUB MAGNIT PJSC RUB MAGNIT PJSC-SPON GDR REGS USD MEGAFON - REG GDR USD MMC NORILSK NICKEL PJSC RUB MOBILE TELESYSTEMS PJSC RUB MOBILE TELESYSTEMS-SP ADR USD MOSCOW EXCHANGE MICEX - RTS RUB NOVATEK PJSC RUB PHOSAGRO OAO - GDR REG USD POLYMETAL INTERNATIONAL - W/I GBP ROSNEFT OIL CO PJSC RUB SBERBANK OF RUSSIA PJSC RUB SBERBANK-PREFERENCE RUB SEVERSTAL PAO RUB SURGUTNEFTEGAS-PREFERENCE RUB TATNEFT - PREF 3 SERIES RUB TRANSNEFT PJSC RUB UNIPRO PJSC RUB Cyprus GLOBAL PORTS INV-REGS W/I USD GLOBALTRA-SPONS GDR REGS USD The Netherlands VIMPELCOM LTD-SPON ADR USD Switzerland LUXOFT HOLDING INC USD Guernsey Island ETALON GROUP-GDR REGS - W/I USD Kazakhstan KCELL JSC - REGS - W/I USD United Kingdom VOLGA GAS PLC GBP Luxembourg NOVOROSSIYSK COMMERCIAL SEA RUB Total securities portfolio Page 164

167 Equity South Korea Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares South Korea ADVANCED PROCESS SYSTEMS COR KRW AMOREPACIFIC CORP KRW CELLTRION INC KRW CJ CHEILJEDANG CORP KRW CJ E&M CORP KRW COM2US CORP KRW COSMAX INC KRW DAELIM INDUSTRIAL CO LTD KRW E-MART INC KRW ENF TECHNOLOGY CO LTD KRW GS ENGINEERING & CONSTRUCTION KRW GS RETAIL CO LTD KRW HANA FINANCIAL GROUP KRW HANSSEM CO LTD KRW HYOSUNG CORPORATION KRW HYUNDAI ENGINEERING & CONST KRW HYUNDAI GLOVIS CO LTD KRW HYUNDAI HEAVY INDUSTRIES KRW HYUNDAI MOBIS CO LTD KRW HYUNDAI MOTOR CO KRW HYUNDAI MOTOR CO LTD-2ND PRF KRW INI STEEL CO KRW INNOCEAN WORLDWIDE INC KRW INNOX CORP KRW KB FINANCIAL GROUP INC KRW KB INSURANCE CO LTD KRW KIWOOM SECURITIES CO LTD KRW KOLON INDUSTRIES INC KRW KOREA INVESTMENT HOLDINGS CO KRW KOREA LINE CORP KRW KOREA ZINC CO LTD KRW KT&G CORP KRW KUMHO PETROCHEMICAL CO LTD KRW LG CHEM LTD KRW LG DISPLAY CO LTD KRW LG LIFE SCIENCE KRW LOTTE CHEMICAL CORP KRW MERITZ SECURITIES CO LTD KRW NAVER CORP KRW NCSOFT CORP KRW ORION CORP KRW POSCO KRW SAMSUNG C&T CORP KRW SAMSUNG ELECTRONICS CO LTD KRW SAMSUNG ENGINEERING CO LTD KRW SAMSUNG FIRE & MARINE INS KRW SAMSUNG HEAVY INDUSTRIES KRW SAMSUNG LIFE INSURANCE CO KRW SFA ENGINEERING CORP KRW SK CHEMICALS CO LTD KRW SK HOLDINGS CO LTD KRW SK HYNIX INC KRW SK MATERIALS CO LTD KRW SK TELECOM KRW ST PHARM CO LTD KRW SYSTEMS TECHNOLOGY INC KRW TES CO LTD KRW VIATRON TECHNOLOGIES INC KRW WONIK MATERIALS CO LTD KRW YUHAN CORP KRW Total securities portfolio Page 165

168 Equity Turkey Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Turkey AKBANK T.A.S. TRY AKCANSA CIMENTO TRY ALKIM ALKALI KIMYA A.S TRY ANADOLU EFES BIRACILIK VE TRY ANADOLU HAYAT EMEKLILIK TRY ARCELIK AS TRY ASELSAN ELEKTRONIK SANAYI TRY BIM BIRLESIK MAGAZALAR AS TRY CEMTAS CELIK MAKINA TRY CIMSA CIMENTO SANAYI VE TIC TRY EMLAK KONUT GAYRIMENKUL YATI TRY ENKA INSAAT VE SANAYI AS TRY EREGLI DEMIR VE CELIK FABRIK TRY FORD OTOMOTIV SANAYI AS TRY HACI OMER SABANCI HOLDING TRY IS GAYRIMENKUL YATIRIM ORTAK TRY KARDEMIR KARABUK DEMIR - D TRY KOC HOLDING AS TRY KOZA ALTIN ISLETMELERI AS TRY LOGO YAZILIM SANAYI VE TICAR TRY MIGROS TICARET A.S TRY REYSAS TICARET AS TRY SINPAS GAYRIMENKUL YATIRIM TRY SODA SANAYII TRY TAT KONSERVE TRY TEKFEN HOLDING AS TRY TOFAS TURK OTOMOBIL FABRIKASI TRY TRAKYA CAM SANAYII AS TRY TUPRAS-TURKIYE PETROL RAFINE TRY TURK HAVA YOLLARI AO TRY TURK SISE VE CAM FABRIKALARI TRY TURK TELEKOMUNIKASYON AS TRY TURK TRAKTOR VE ZIRAAT MAKIN TRY TURKCELL ILETISIM HIZMET AS TRY TURKIYE GARANTI BANKASI TRY TURKIYE HALK BANKASI TRY TURKIYE IS BANKASI - C TRY TURKIYE VAKIFLAR BANKASI T-D TRY ULKER BISKUVI SANAYI TRY VESTEL ELEKTRONIK SANAYI TRY YAPI VE KREDI BANKASI TRY Total securities portfolio Page 166

169 Equity USA Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABBVIE INC USD ACTIVISION BLIZZARD INC USD ACUITY BRANDS INC-W/D USD AES CORPORATION USD AFLAC INC USD ALASKA AIR GROUP INC USD ALLIANCE DATA SYSTEMS CORP USD ALTRIA GROUP INC USD AMC NETWORKS INC - A USD AMERICAN EAGLE OUTFITTERS USD AMERICAN WATER WORKS CO INC USD AMERISOURCE BERGEN CORP USD ANNALY CAPITAL MANAGEMENT USD APPLE INC USD APPLIED MATERIALS INC USD ARAMARK USD AUTONATION INC USD AVERY DENNISON CORP USD AXALTA COATING SYSTEMS LTD USD B/E AEROSPACE INC USD BALL CORP USD BERRY PLASTICS GROUP INC USD BIG LOTS INC USD BOEING CO/THE USD BOSTON SCIENTIFIC CORP USD BURLINGTON STORES INC USD CA INC USD CAMPBELL SOUP CO USD CARDINAL HEALTH INC USD CDW CORP/DE USD CELANESE CORP SERIES A USD CENTURYLINK INC USD CITRIX SYSTEMS INC USD CLOROX COMPANY USD CMS ENERGY CORP USD COMMSCOPE HOLDING CO INC USD CONAGRA BRANDS INC USD CONSTELLATION BRANDS INC - A USD CUMMINS INC USD DARDEN RESTAURANTS INC USD DEAN FOODS CO USD DELTA AIR LINES INC USD DICKS SPORTING GOODS INC USD DISCOVERY COMMUNICATIONS - A USD DOLLAR GENERAL CORP USD DR PEPPER SNAPPLE GROUP INC USD ELECTRONIC ARTS INC USD EXPEDIA INC USD EXPRESS SCRIPTS INC USD F5 NETWORKS INC USD FACEBOOK INC - A USD FEDEX CORP USD FIDELITY NATIONAL INFO SERV USD FIRST DATA CORP - A USD FIRSTENERGY CORP USD FISERV INC USD FIVE BELOW USD FLEX LTD USD FLUOR CORP USD FORTUNE BRANDS HOME + SECURI USD GENERAL MILLS INC USD GENERAL MOTORS CO USD GLOBAL PAYMENTS INC USD GOODYEAR TIRE & RUBBER CO USD H&R BLOCK INC USD HANESBRANDS INC USD HARRIS CORP USD HD SUPPLY HOLDINGS INC USD HOME DEPOT INC USD HONEYWELL INTERNATIONAL INC USD HORMEL FOODS CORP USD HUNTINGTON INGALLS INDUSTRIE USD ILLINOIS TOOL WORKS USD INGERSOLL-RAND PLC USD INTERPUBLIC GROUP OF COS INC USD INTL BUSINESS MACHINES CORP USD INTUIT INC USD JABIL CIRCUIT INC USD JM SMUCKER CO/THE USD KAR AUCTION SERVICES INC USD KELLOGG CO USD KLA TENCOR CORP USD KROGER CO USD LAS VEGAS SANDS CORP USD LEAR CORP USD LENNOX INTERNATIONAL INC USD LOWES COS INC USD LYONDELLBASELL INDU - A USD MASCO CORP USD MCCORMICK & CO-NON VTG SHRS USD MCDONALDS CORP USD MGIC INVESTMENT CORP USD MICROCHIP TECHNOLOGY INC USD MSCI INC USD NEWELL BRANDS INC USD NORDSTROM INC USD NORTHROP GRUMMAN CORP USD NORWEGIAN CRUISE LINE HOLDING USD NUCOR CORP USD OMNICOM GROUP USD OREILLY AUTOMOTIVE INC USD OWENS CORNING USD PACKAGING CORP OF AMERICA USD PANERA BREAD COMPANY - A USD PARKER HANNIFIN CORP USD PAYCHEX INC USD PEPSICO INC USD PINNACLE FOODS INC USD PRICELINE GROUP INC/THE USD PRINCIPAL FINANCIAL GROUP USD PUBLIC SERVICE ENTERPRISE GP USD REYNOLDS AMERICAN INC USD ROSS STORES INC USD ROYAL CARIBBEAN CRUISES LTD USD S&P GLOBAL INC USD SABRE CORP USD SCRIPPS NETWORKS INTER - A USD Page 167

170 Equity USA Expressed in USD SHERWIN-WILLIAMS CO/THE USD SKYWORKS SOLUTIONS INC USD SMITH (A.O.) CORP USD SOUTHWEST AIRLINES CO USD SPIRIT AEROSYSTEMS HOLD - A USD STARBUCKS CORP USD STARWOOD PROPERTY TRUST INC USD STEEL DYNAMICS INC USD TARGET CORP USD TEGNA INC USD TERADATA CORP USD TEXAS INSTRUMENTS INC USD THOR INDUSTRIES INC USD TOTAL SYSTEM SERVICES INC USD TRACTOR SUPPLY COMPANY USD TRAVELERS COS INC/THE USD TREEHOUSE FOODS INC USD TYLER TECHNOLOGIES INC USD TYSON FOODS INC - A USD ULTA SALON COSMETICS + FRAGR USD UNITED CONTINENTAL HOLDINGS USD UNITEDHEALTH GROUP INC USD USG CORP USD VAIL RESORTS INC USD VALERO ENERGY CORP USD VANTIV INC - A USD VCA INC USD VULCAN MATERIALS CO USD WHIRLPOOL CORP USD WHITEWAVE FOODS CO USD WYNDHAM WORLDWIDE CORP USD Bermuda EVEREST RE GROUP LTD USD Singapore BROADCOM SHS USD Ireland ACCENTURE PLC - A USD ALLEGION PLC - W/I USD United Kingdom DELPHI AUTOMOTIVE PLC USD Total securities portfolio Page 168

171 Equity USA Growth Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABBVIE INC USD ACUITY BRANDS INC-W/D USD ALEXION PHARMACEUTICALS INC USD ALLERGAN PLC USD ALPHABET INC - A USD ALTRIA GROUP INC USD AMAZON.COM INC USD AMETEK INC USD ANALOG DEVICES INC USD APPLE INC USD BERRY PLASTICS GROUP INC USD BOSTON SCIENTIFIC CORP USD CARDINAL HEALTH INC USD CBRE GROUP INC - A USD CELGENE CORP USD CHARLES RIVER LABORATORIES USD CISCO SYSTEMS INC USD COACH INC USD COMCAST CORP - A USD CONSTELLATION BRANDS INC - A USD CVS HEALTH CORP USD EDWARDS LIFESCIENCES CORP USD ELI LILLY & CO USD ESTEE LAUDER COMPANIES - A USD FACEBOOK INC - A USD FEDEX CORP USD FORTIVE CORP USD GILEAD SCIENCES INC USD HALLIBURTON CO USD HESS CORP USD HILTON WORLDWIDE HOLDINGS INC USD HOME DEPOT INC USD HONEYWELL INTERNATIONAL INC USD INGERSOLL-RAND PLC USD INTERCONTINENTAL EXCHANGE-W/I USD JP MORGAN CHASE AND CO USD LOWES COS INC USD LYONDELLBASELL INDU - A USD MASTERCARD INC - A USD MEDNAX INC USD MERCK & CO INC USD MICROSOFT CORP USD MONSTER BEVERAGE CORP USD NIKE INC - B USD NORTHROP GRUMMAN CORP USD NORWEGIAN CRUISE LINE HOLDING USD OREILLY AUTOMOTIVE INC USD OSHKOSH CORP USD PALO ALTO NETWORKS INC USD PAYPAL HOLDINGS INC - W/I USD PEPSICO INC USD PRICELINE GROUP INC/THE USD PTC INC USD QUALCOMM INC USD RANGE RESOURCES CORP USD RAYTHEON COMPANY USD RYDER SYSTEM INC USD SALESFORCE.COM INC USD SCHWAB (CHARLES) CORP USD SERVICENOW INC USD SIMON PROPERTY GROUP INC USD SPLUNK INC USD SPROUTS FARMERS MARKET INC USD TIME WARNER INC USD TWENTY-FIRST CENTURY FOX - A USD UNION PACIFIC CORP USD UNITEDHEALTH GROUP INC USD VANTIV INC - A USD VERIZON COMMUNICATIONS INC USD VISA INC - A SHARES USD WALT DISNEY CO/THE USD WHOLE FOODS MARKET INC USD Ireland ALKERMES PLC USD JAZZ PHARMACEUTICALS PLC USD United Kingdom AON PLC USD DELPHI AUTOMOTIVE PLC USD Singapore BROADCOM SHS USD Switzerland TE CONNECTIVITY LTD USD Canada LULULEMON ATHLETICA INC USD Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 169

172 Equity USA Mid Cap Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America AGCO CORP USD AKAMAI TECHNOLOGIES INC USD ARCONIC INC USD ATWOOD OCEANICS INC USD BORGWARNER INC USD BUNGE LTD USD COOPER TIRE & RUBBER USD CREE INC USD DEVRY EDUCATION GROUP INC USD DONALDSON CO INC USD FMC CORP USD FMC TECHNOLOGIES INC USD GENTEX CORP USD INTERPUBLIC GROUP OF COS INC USD ITRON INC USD JABIL CIRCUIT INC USD JUNIPER NETWORKS INC USD LEAR CORP USD LIONS GATE ENTERTAINMENT - A USD LIONS GATE ENTERTAINMENT - B USD MATTEL INC USD MCDERMOTT INTL INC USD NEW YORK TIMES CO - A USD NORTHERN TRUST CORP USD NUANCE COMMUNICATIONS INC USD OFFICE DEPOT INC USD PATTERSON COS INC USD QUEST DIAGNOSTICS INC USD RAYMOND JAMES FINANCIAL INC USD STAPLES INC USD STERICYCLE INC USD STIFEL FINANCIAL CORP USD TEGNA INC USD TERADATA CORP USD TIME INC-W/I USD UNISYS CORP USD UNITED STATES STEEL CORP USD VARIAN MEDICAL SYSTEMS INC USD WERNER ENTERPRISES INC USD WHIRLPOOL CORP USD Canada DOMTAR CORP USD SHAW COMMUNICATIONS INC - B USD Sweden AUTOLIV INC USD Panama COPA HOLDINGS SA - A USD The Netherlands CHICAGO BRIDGE & IRON CO NV USD Brazil GERDAU SA - SPON ADR USD Switzerland TRANSOCEAN LTD USD Shares/Units in investment funds United States of America ISHARES TRUST RUSSELL MIDCAP USD Total securities portfolio Page 170

173 Equity USA Small Cap Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABIOMED INC USD AGIOS PHARMACEUTICALS INC USD AQUA AMERICA INC USD BANK OF THE OZARKS USD BANKUNITED INC USD BEACON ROOFING SUPPLY INC USD BERRY PLASTICS GROUP INC USD BJS RESTAURANTS INC USD BLACK HILLS CORP USD BOSTON BEER COMPANY INC - A USD BOSTON PRIVATE FINL HOLDING USD BUFFALO WILD WINGS INC USD CALLON PETROLEUM CO USD CARRIZO OIL + GAS INC USD CBOE HOLDINGS INC USD CHARLES RIVER LABORATORIES USD CIENA CORP USD CLUBCORP HOLDINGS INC USD CNO FINANCIAL GROUP INC USD COLUMBIA BANKING SYSTEM INC USD COLUMBIA SPORTSWEAR CO USD CSG SYSTEMS INTL INC USD CUBIC CORP USD DIAMONDROCK HOSPITALITY CO USD DOUGLAS EMMETT INC USD EDUCATION REALTY TRUST INC USD EMCOR GROUP INC USD ENDOLOGIX INC USD ENGILITY HOLDINGS INC USD EPR PROPERTIES USD EVERCORE PARTNERS INC - A USD FERRO CORP USD FIRST MERCHANTS CORP USD FITBIT INC - A USD FIVE BELOW USD FORTINET INC USD GRANITE CONSTRUCTION INC USD GRAPHIC PACKAGING HOLDING CO USD HEXCEL CORP USD HIGHWOODS PROPERTIES INC USD HSN INC USD INSULET CORP USD INTERFACE INC USD INTERSIL CORP - A USD INVENSENSE INC USD IRONWOOD PHARMACEUTICALS INC USD JACK IN THE BOX INC USD LIONS GATE ENTERTAINMENT - B USD LOGMEIN INC USD M/A-COM TECHNOLOGY SOLUTIONS USD MASIMO CORP USD MEDICINES COMPANY USD MICROSEMI CORP USD MINERALS TECHNOLOGIES INC USD MSA SAFETY INC USD NCI BUILDING SYSTEMS INC USD NEENAH PAPER INC USD NEUROCRINE BIOSCIENCES INC USD NEW RELIC INC USD NEXSTAR BROADCASTING GROUP - A USD NN INC USD ON SEMICONDUCTOR CORPORATION USD OSHKOSH CORP USD PACIFIC PREMIER BANCORP INC USD PDC ENERGY INC USD PLEXUS CORP USD PNM RESOURCES INC USD PRIVATEBANCORP INC USD PROOFPOINT INC USD PTC INC USD RENASANT CORP USD REPLIGEN CORP USD REXFORD INDUSTRIAL REALTY IN USD RLJ LODGING TRUST USD RYDER SYSTEM INC USD SANCHEZ ENERGY CORP USD SANDERSON FARMS INC USD SHAKE SHACK INC - A USD SONIC CORP USD SPECTRANETICS CORP USD SPIRE SHS USD SPROUTS FARMERS MARKET INC USD STERLING BANCORP/DE USD SUMMIT MATERIALS INC - A USD SWIFT TRANSPORTATION CO USD TABLEAU SOFTWARE INC - A USD TENNECO INC USD TESARO INC USD TRICO BANCSHARES USD TRINITY INDUSTRIES INC USD UNION BANKSHARES CORP USD UNITED NATURAL FOODS INC USD VEEVA SYSTEMS INC - A USD WAYFAIR INC - A USD WELLCARE HEALTH PLANS INC USD WESTERN ALLIANCE BANCORP USD WHITING PETROLEUM CORP USD ZENDESK INC USD Ireland ALKERMES PLC USD ICON PLC USD Israel CYBERARK SOFTWARE LTD/ISRAEL USD Other transferable securities Warrants, Rights DYAX CORP RTS 31/12/2049 USD Total securities portfolio Page 171

174 Equity USA Value Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABBVIE INC USD AES CORPORATION USD AFFILIATED MANAGERS GROUP USD ALLIANCE DATA SYSTEMS CORP USD ALTRIA GROUP INC USD AMERICAN EXPRESS CO USD AMERIPRISE FINANCIAL INC USD APPLE INC USD CAMPBELL SOUP CO USD CBOE HOLDINGS INC USD CBRE GROUP INC - A USD CELANESE CORP SERIES A USD DEVON ENERGY CORP USD DISCOVER FINANCIAL SERVICES USD EATON VANCE CORP USD FEDERATED INVESTORS INC - B USD GILEAD SCIENCES INC USD HARRIS CORP USD HEWLETT - PACKARD ENTERPRISE - W/I USD HP INC USD KROGER CO USD LYONDELLBASELL INDU - A USD MARATHON PETROLEUM CORP - W/I USD MASTERCARD INC - A USD MOODYS CORP USD MYLAN NV USD NEWMARKET CORP USD OMNICOM GROUP USD PHILIP MORRIS INTERNATIONAL USD ROCKWELL COLLINS INC USD ROSS STORES INC USD S&P GLOBAL INC USD SYNCHRONY FINANCIAL USD TESORO CORP USD TJX COMPANIES INC USD UNITED PARCEL SERVICE- CL B USD UNITED RENTALS INC USD VALERO ENERGY CORP USD VERIZON COMMUNICATIONS INC USD WESTERN DIGITAL CORP USD WESTERN UNION CO USD YUM BRANDS INC USD Ireland ACCENTURE PLC - A USD Total securities portfolio Page 172

175 Equity World Consumer Durables Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America AMAZON.COM INC USD AMC NETWORKS INC - A USD BIG LOTS INC USD BURLINGTON STORES INC USD CBS CORP-CLASS B NON VOTING USD CLUBCORP HOLDINGS INC USD COACH INC USD COLUMBIA SPORTSWEAR CO USD COMCAST CORP - A USD DAVE & BUSTERS ENTERTAINMENT USD DISH NETWORK CORP - A USD DOLLAR GENERAL CORP USD DOLLAR TREE INC USD FIVE BELOW USD HASBRO INC USD HILTON WORLDWIDE HOLDINGS INC USD HOME DEPOT INC USD INTERPUBLIC GROUP OF COS INC USD LAS VEGAS SANDS CORP USD LIONS GATE ENTERTAINMENT - A USD LIONS GATE ENTERTAINMENT - B USD LOWES COS INC USD MATTEL INC USD NIKE INC - B USD NORWEGIAN CRUISE LINE HOLDING USD OREILLY AUTOMOTIVE INC USD PANERA BREAD COMPANY - A USD PINNACLE ENTERTAINMENT INC USD PRICELINE GROUP INC/THE USD PVH CORP USD ROYAL CARIBBEAN CRUISES LTD USD SHAKE SHACK INC - A USD TENNECO INC USD TIME WARNER INC USD TWENTY-FIRST CENTURY FOX - A USD UNDER ARMOUR INC - A USD UNDER ARMOUR INC - C - W/I USD WALT DISNEY CO/THE USD WAYFAIR INC - A USD Japan DENA CO LTD JPY DENSO CORP JPY FUJI HEAVY INDUSTRIES LTD JPY MAZDA MOTOR CORP JPY SEKISUI HOUSE LTD JPY SONY CORP JPY STANLEY ELECTRIC CO LTD JPY TOYOTA MOTOR CORP JPY United Kingdom ASOS PLC GBP BURBERRY GROUP PLC GBP DELPHI AUTOMOTIVE PLC USD INTERCONTINENTAL HOTELS GROUP GBP INTERNATIONAL GAME TECHNOLOG USD LIBERTY GLOBAL PLC - C USD France LVMH MOET HENNESSY LOUIS VUITTON EUR PUBLICIS GROUPE EUR RENAULT SA EUR VALEO SA EUR Germany CONTINENTAL AG EUR DAIMLER AG-REGISTERED SHARES EUR PROSIEBEN SAT.1 MEDIA SE EUR China ALIBABA GROUP HOLDING-SP ADR USD CTRIP.COM INTERNATIONAL-ADR USD TENCENT HOLDINGS LTD HKD Canada LULULEMON ATHLETICA INC USD MAGNA INTERNATIONAL INC CAD Israel MOBILEYE NV USD Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 173

176 Equity World Emerging Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares China JOB INC - ADR USD ANHUI CONCH CEMENT CO LTD - H HKD BAIDU INC - SPON ADR USD BEST PACIFIC INTERNATIONAL H HKD CHINA CONSTRUCTION BANK - H HKD CHINA MERCHANTS BANK - H HKD NEW ORIENTAL EDUCATIO - SP ADR USD PING AN INSURANCE GROUP CO - H HKD TENCENT HOLDINGS LTD HKD ZHUZHOU CRRC TIMES ELECTRIC HKD South Korea HANSOL CHEMICAL CO LTD KRW HYUNDAI GLOVIS CO LTD KRW KCC CORP KRW KOREA AEROSPACE INDUSTRIES KRW LG CHEM LTD KRW LG HOUSEHOLD & HEALTH CARE KRW LIG NEX1 CO LTD KRW S-1 CORPORATION KRW SAMSUNG BIOLOGICS CO LTD KRW SAMSUNG ELECTRONICS CO LTD KRW Taiwan AEROSPACE INDUSTRIAL DEVELOP TWD E.SUN FINANCIAL HOLDING CO TWD ENNOCONN CORP TWD LARGAN PRECISION CO LTD TWD NIEN MADE ENTERPRISE CO LTD TWD STANDARD FOODS CORP TWD TAIWAN SEMICONDUCTOR - SP ADR USD UNI PRESIDENT ENTERPRISES CO TWD India CENTURY PLYBOARDS INDIA LTD INR GLENMARK PHARMACEUTICALS LTD INR HDFC BANK LTD - ADR USD L&T TECHNOLOGY SERVICES LTD INR POWER GRID CORP OF INDIA LTD INR SH KELKAR & CO LTD INR SUPREME INDUSTRIES LTD INR TATA MOTORS LTD INR YES BANK LTD INR Hong Kong AIA GROUP LTD HKD CHINA OVERSEAS LAND & INVEST HKD CHINA UNICOM HONG KONG LTD HKD KERRY LOGISTICS NETWORK LTD HKD TECHTRONIC INDUSTRIES CO LTD HKD WH GROUP LTD HKD Brazil BM&FBOVESPA SA BRL BRF SA BRL CVC BRASIL OPERADORA E AGENC BRL HYPERMARCAS SA BRL LINX SA BRL LOCALIZA RENT A CAR BRL RAIA DROGASIL SA BRL South Africa CLICKS GROUP LTD ZAR FIRSTRAND LTD ZAR MTN GROUP LTD ZAR NASPERS LTD - N ZAR SASOL LTD ZAR Russia LENTA LTD - REG USD LUKOIL PJSC - SPON ADR USD MAGNIT PJSC-SPON GDR REGS USD MOSCOW EXCHANGE MICEX - RTS PJ USD NOVATEK PJSC-SPONS GDR REG S USD United States of America MEAD JOHNSON NUTRITION CO USD PRICESMART INC USD SCHLUMBERGER LTD USD Mexico CONTROLADORA VUELA CIA DE - A MXN KIMBERLY-CLARK DE MEXICO - A MXN OHL MEXICO SAB DE CV MXN UNIFIN FINANCIERA SAB DE CV MXN Indonesia BANK CENTRAL ASIA TBK PT IDR MATAHARI DEPARTMENT STORE TB IDR Thailand AIRPORTS OF THAILAND PCL-FOR THB KASIKORNBANK PCL-FOREIGN THB Malaysia IHH HEALTHCARE BHD MYR MY EG SERVICES BHD MYR Philippines AYALA CORPORATION PHP UNIVERSAL ROBINA CORP PHP Turkey ASELSAN ELEKTRONIK SANAYI TRY COCA-COLA ICECEK AS TRY Canada GRAN TIERRA ENERGY INC USD Spain BANCO SANTANDER-CHILE - ADR USD Australia OIL SEARCH LTD AUD Peru CREDICORP LTD USD United Arab Emirates MEDICLINIC INTERNATIONAL PLC GBP Qatar QATAR NATIONAL BANK QAR Macao SANDS CHINA LTD HKD Austria LENZING AG EUR Luxembourg GLOBANT SA USD Page 174

177 Equity World Emerging Expressed in USD Other transferable securities Shares Taiwan GOURMET MASTER CO LTD TWD Shares/Units in investment funds Luxembourg PARVEST EQUITY WORLD EMERGING SMALL CAP - X - CAP USD Total securities portfolio Page 175

178 Equity World Emerging Low Volatility Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Taiwan ASUSTEK COMPUTER INC TWD CHANG HWA COMMERCIAL BANK TWD CHINA AIRLINES LTD TWD CHINA STEEL CORP TWD CTBC FINANCIAL HOLDING CO LTD TWD DELTA ELECTRONIC INDUSTRIAL CO TWD E.SUN FINANCIAL HOLDING CO TWD EVA AIRWAYS CORP TWD EVERGREEN MARINE CORP LTD TWD FAR EASTERN TEXTILE LTD TWD FORMOSA TAFFETA CO. TWD FOXCONN TECHNOLOGY CO LTD TWD HON HAI PRECISION INDUSTRY TWD HUA NAN FINANCIAL HOLDINGS TWD RUENTEX INDUSTRIES LTD TWD SHIN KONG FINANCIAL HOLDING TWD STANDARD FOODS CORP TWD SYNNEX TECHNOLOGY INTL CORP TWD TAISHIN FINANCIAL HOLDINGS TWD TAIWAN BUSINESS BANK TWD TAIWAN FERTILIZER CO LTD TWD TAIWAN SEMICONDUCTOR - SP ADR USD YUANTA FINANCIAL HOLDING CO TWD South Korea GS HOLDINGS KRW HANWHA LIFE INSURANCE CO LTD KRW HYUNDAI MOBIS CO LTD KRW KB FINANCIAL GROUP INC KRW KOREA ZINC CO LTD KRW LG ELECTRONICS INC KRW POSCO KRW SAMSUNG ELECTRONICS CO LTD KRW SAMSUNG FIRE & MARINE INS KRW SAMSUNG LIFE INSURANCE CO KRW SHINHAN FINANCIAL GROUP LTD KRW India ACC LTD INR ASIAN PAINTS LTD INR BAJAJ AUTO LTD INR DIVIS LABORATORIES LTD INR INFOSYS LTD INR LUPIN LTD INR RELIANCE INDUSTRIES LTD INR TATA CONSULTANCY SVCS LTD INR TITAN CO LTD INR WIPRO LTD INR Brazil AMBEV SA BRL CETIP SA-MERCADOS ORGANIZADO BRL CIELO SA BRL LOJAS RENNER SA BRL ODONTOPREV SA BRL ULTRAPAR PARTICIPACOES SA BRL WEG SA BRL Malaysia ASTRO MALAYSIA HOLDINGS BHD MYR AXIATA GROUP BERHAD MYR CIMB GROUP HOLDINGS BHD MYR DIALOG GROUP BHD MYR HAP SENG CONSOLIDATED MYR HARTALEGA HOLDINGS BHD MYR MAXIS BHD MYR MISC BHD MYR PETRONAS CHEMICALS GROUP BHD MYR PPB GROUP BERHAD MYR TENAGA NASIONAL BHD MYR WESTPORTS HOLDINGS BHD MYR YTL CORP BHD MYR China BANK OF CHINA LTD - H HKD CHINA CONSTRUCTION BANK - H HKD HENGAN INTL GROUP CO LTD HKD JIANGSU EXPRESS CO LTD - H HKD Thailand AIRPORTS OF THAILAND PCL-FOR THB BANGKOK BANK PCL-FOREIGN REG THB BANGKOK DUSIT MED SERVICE - F THB BTS GROUP HOLDINGS PCL-FORGN THB ELECTRICITY GEN PUB CO-FOR THB KRUNG THAI BANK PUB CO-FOREI THB PTT GLOBAL CHEMICAL PCL - FOR THB SIAM CEMENT PUB CO - FOR REG THB Mexico ARCA CONTINENTAL SAB DE CV MXN COCA-COLA FEMSA SAB-SER MXN FIBRA UNO ADMINISTRACION SA MXN GRUMA S.A.B. - B MXN GRUPO AEROPORTUARIO DE SURESTE - B MXN GRUPO BIMBO SAB - SERIES A MXN GRUPO MEXICO SAB DE CV-SER B MXN GRUPO TELEVISA SAB-SER CPO MXN South Africa FORTRESS INCOME FUND LTD - A ZAR INVESTEC LTD ZAR LIBERTY HOLDINGS LTD ZAR MONDI LTD ZAR NETCARE LTD ZAR REMGRO LTD ZAR SPAR GROUP LIMITED/THE ZAR TSOGO SUN HOLDINGS LTD ZAR Chile AES GENER SA CLP BANCO DE CREDITO E INVERSION CLP BANCO SANTANDER CHILE CLP EMPRESAS COPEC SA CLP ENEL GENERACION CHILE SA CLP S.A.C.I. FALABELLA CLP Hong Kong CHINA MOBILE LTD HKD SHANGHAI INDUSTRIAL HOLDING LTD HKD Page 176

179 Equity World Emerging Low Volatility Expressed in USD Qatar DOHA BANK QSC QAR QATAR GAS TRANSPORT(NAKILAT) QAR QATAR NATIONAL BANK QAR Philippines BANK OF PHILIPPINE ISLANDS PHP SM INVESTMENTS CORP PHP UNIVERSAL ROBINA CORP PHP Russia GAZPROM PAO RUB United Arab Emirates DP WORLD LTD USD EMIRATES TELECOM GROUP CO AED Indonesia BANK CENTRAL ASIA TBK PT IDR BANK CIMB NIAGA TBK PT IDR Poland CYFROWY POLSAT SA PLN GRUPA LOTOS SA PLN Colombia CORP FINANCIERA COLOMBIANA COP GRUPO AVAL ACCIONES - PF COP Hungary MOL HUNGARIAN OIL AND GAS PL HUF The Netherlands STEINHOFF INTERNATIONAL H NV ZAR Cayman Islands QINQIN FOODSTUFFS GROUP CAYM HKD Other transferable securities Warrants, Rights TAISHIN FINANCIAL HOLDING RTS 07/02/2017 TWD Total securities portfolio Page 177

180 Equity World Emerging Small Cap Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Taiwan AEROSPACE INDUSTRIAL DEVELOP TWD CLEANAWAY CO LTD TWD E.SUN FINANCIAL HOLDING CO TWD ENNOCONN CORP TWD GIGASOLAR MATERIALS CORP TWD NIEN MADE ENTERPRISE CO LTD TWD NOVATEK MICROELECTRONICS CORP TWD STANDARD FOODS CORP TWD TAIWAN PAIHO TWD TAIWAN SECOM TWD VOLTRONIC POWER TECHNOLOGY TWD YUNGTAY ENGINEERING CO LTD TWD South Korea BGF RETAIL CO LTD KRW DONGSUH COMPANIES INC KRW HANSOL CHEMICAL CO LTD KRW HYUNDAI ELEVATOR CO KRW I-SENS INC KRW KEPCO PLANT SERVICE + ENGINE KRW LIG NEX1 CO LTD KRW MACQUARIE KOREA INFRA FUND KRW MUHAK CO LTD KRW S-1 CORPORATION KRW YUHAN CORP KRW China JOB INC - ADR USD BEST PACIFIC INTERNATIONAL H HKD BIOSTIME INTERNATIONAL HOLDI HKD CHINA LESSO GROUP HOLDINGS HKD HAITIAN INTERNATIONAL HOLDINGS HKD QINGDAO PORT INTERNATIONAL - H HKD TRAVELSKY TECHNOLOGY LTD HKD India GLAXOSMITHKLINE CONSUMER HEA INR GLENMARK PHARMACEUTICALS LTD INR GREENPLY INDUSTRIES LTD INR L&T TECHNOLOGY SERVICES LTD INR MAX INDIA LIMITED INR SH KELKAR & CO LTD INR Brazil CVC BRASIL OPERADORA E AGENC BRL HYPERMARCAS SA BRL LINX SA BRL LOCALIZA RENT A CAR BRL MAGNESITA REFRATARIOS SA BRL VALID SOLUCOES SA BRL Indonesia LINK NET TBK PT IDR MATAHARI DEPARTMENT STORE TB IDR SILOAM INTERNATIONAL HOSPITA IDR SUMBER ALFARIA TRIJAYA TBK IDR SURYA CITRA MEDIA PT TBK IDR Hong Kong CHINA TRADITIONAL CHINESE ME HKD EVA PRECISION INDUSTRIAL HOLDING HKD JOHNSON ELECTRIC HOLDINGS HKD KERRY LOGISTICS NETWORK LTD HKD ROTAM GLOBAL AGROSCIENCES LTD TWD SSY GROUP LTD HKD STELLA INTERNATIONAL HKD Turkey ASELSAN ELEKTRONIK SANAYI TRY SODA SANAYII TRY TURK TRAKTOR VE ZIRAAT MAKIN TRY ULKER BISKUVI SANAYI TRY Thailand JASMINE BROADBAND INTER - F THB MINOR INTERNATIONAL PCL-FOR THB TAOKAENOI FOOD & MARKETING - F THB THAI REINSURANCE PUB CO-FOR THB Malaysia MY EG SERVICES BHD MYR NESTLE (MALAYSIA) BERHAD MYR South Africa CLICKS GROUP LTD ZAR JSE LTD ZAR Mexico CONTROLADORA VUELA CIA DE - A MXN CREDITO REAL SAB DE CV SOFOM MXN OHL MEXICO SAB DE CV MXN UNIFIN FINANCIERA SAB DE CV MXN Cayman Islands SILICON MOTION TECHNOL - ADR USD XINGDA INTL HOLDINGS HKD Philippines INTL CONTAINER TERM SVCS INC PHP PHILIPPINE STOCK EXCHANGE IN PHP Canada GRAN TIERRA ENERGY INC CAD Argentina GRUPO FINANCIERO GALICIA - ADR USD Russia LENTA LTD - REG USD United States of America PRICESMART INC USD Egypt EDITA FOOD INDUSTRIES - REG S USD Luxembourg GLOBANT SA USD Austria LENZING AG EUR Warrants, Rights MERRILL CW 17/12/2018 SAIGON BEER USD Page 178

181 Equity World Emerging Small Cap Expressed in USD Other transferable securities Shares Taiwan GOURMET MASTER CO LTD TWD Total securities portfolio Page 179

182 Equity World Energy Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ANADARKO PETROLEUM CORP USD APACHE CORP USD CABOT OIL & GAS CORP USD CALLON PETROLEUM CO USD CARRIZO OIL + GAS INC USD CHEVRON CORP USD CIMAREX ENERGY CO USD CONCHO RESOURCES INC USD CONOCOPHILLIPS USD CONTINENTAL RESOURCES INC/OK USD DEVON ENERGY CORP USD EOG RESOURCES INC USD EXXON MOBIL CORP USD HALLIBURTON CO USD HESS CORP USD KINDER MORGAN INC USD MARATHON OIL CORP USD ONEOK INC USD PDC ENERGY INC USD PHILLIPS 66 USD PIONEER NATURAL RESOURCES CO USD RANGE RESOURCES CORP USD SCHLUMBERGER LTD USD US SILICA HOLDINGS INC USD VALERO ENERGY CORP USD WHITING PETROLEUM CORP USD WILLIAMS COS INC USD The Netherlands CORE LABORATORIES N.V. USD ROYAL DUTCH SHELL PLC - A GBP ROYAL DUTCH SHELL PLC - B GBP Canada CANADIAN NATURAL RESOURCES CAD SUNCOR ENERGY INC CAD TRANSCANADA CORP CAD United Kingdom BP PLC GBP France TOTAL SA EUR Italy ENI SPA EUR Portugal GALP ENERGIA SGPS SA EUR Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 180

183 Equity World Finance Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America BANK OF AMERICA CORP USD BANK OF THE OZARKS USD BANKUNITED INC USD BERKSHIRE HATHAWAY INC - B USD BLACKROCK INC USD BOSTON PRIVATE FINL HOLDING USD CBRE GROUP INC - A USD CITIGROUP INC USD CME GROUP INC USD CNO FINANCIAL GROUP INC USD FIRST REPUBLIC BANK/SAN FRAN USD GOLDMAN SACHS GROUP INC USD HARTFORD FINANCIAL SVCS GRP USD INTERCONTINENTAL EXCHANGE-W/I USD JP MORGAN CHASE AND CO USD PACIFIC CONTINENTAL CORP USD PACIFIC PREMIER BANCORP INC USD RENASANT CORP USD S&P GLOBAL INC USD SCHWAB (CHARLES) CORP USD TRICO BANCSHARES USD UNUM GROUP USD WELLS FARGO & CO USD United Kingdom AON PLC USD CYBG PLC AUD HSBC HOLDINGS PLC GBP LLOYDS BANKING GROUP PLC GBP PRUDENTIAL PLC GBP STANDARD CHARTERED PLC GBP Japan MITSUBISHI ESTATE CO LTD JPY MITSUBISHI UFJ FINANCIAL GROUP JPY SONY FINANCIAL HOLDINGS INC JPY SUMITOMO MITSUI FINANCIAL GR JPY Australia COMMONWEALTH BANK OF AUSTRALIA AUD WESTPAC BANKING CORP AUD Canada BANK OF MONTREAL CAD ROYAL BANK OF CANADA CAD France AXA SA EUR BNP PARIBAS EUR Hong Kong AIA GROUP LTD HKD Switzerland CHUBB LTD USD The Netherlands ING GROEP NV EUR Spain BANCO SANTANDER SA EUR Sweden NORDEA BANK AB SEK Norway DNB ASA NOK Italy INTESA SANPAOLO EUR Germany DEUTSCHE BOERSE AG-TENDER EUR Ireland BANK OF IRELAND EUR Bermuda LAZARD LTD - A USD India HDFC BANK LTD - ADR USD Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 181

184 Equity World Health Care Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABBVIE INC USD ABIOMED INC USD AETNA INC USD AGIOS PHARMACEUTICALS INC USD ALEXION PHARMACEUTICALS INC USD ALIGN TECHNOLOGY INC USD ALLERGAN PLC USD BIOGEN INC USD BOSTON SCIENTIFIC CORP USD BRISTOL-MYERS SQUIBB CO USD CARDINAL HEALTH INC USD CELGENE CORP USD CHARLES RIVER LABORATORIES USD DEXCOM INC USD EDWARDS LIFESCIENCES CORP USD ELI LILLY & CO USD ENDOLOGIX INC USD GILEAD SCIENCES INC USD HUMANA INC USD INSULET CORP USD IRONWOOD PHARMACEUTICALS INC USD JOHNSON & JOHNSON USD MASIMO CORP USD MEDNAX INC USD MEDTRONIC PLC USD MERCK & CO INC USD NEUROCRINE BIOSCIENCES INC USD PFIZER INC USD REPLIGEN CORP USD SPECTRANETICS CORP USD TESARO INC USD UNITEDHEALTH GROUP INC USD WELLCARE HEALTH PLANS INC USD Ireland ALKERMES PLC USD ICON PLC USD JAZZ PHARMACEUTICALS PLC USD SHIRE PLC GBP Switzerland ACTELION LTD - REG CHF NOVARTIS AG - REG CHF NOVARTIS AG - SPONSORED ADR USD ROCHE HOLDING AG GENUSSCHEIN CHF United Kingdom ASTRAZENECA PLC GBP GLAXOSMITHKLINE PLC GBP HIKMA PHARMACEUTICALS PLC GBP SHIRE PLC - ADR USD Germany BAYER AG - REG EUR FRESENIUS MEDICAL CARE AG EUR GERRESHEIMER AG EUR Japan KYOWA HAKKO KIRIN CO LTD JPY OTSUKA HOLDINGS CO LTD JPY SHIONOGI & CO LTD JPY Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 182

185 Equity World Low Volatility Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America AGNC INVESTMENT CORP USD ALLEGHANY CORP USD ALTRIA GROUP INC USD AMERICAN WATER WORKS CO INC USD AMPHENOL CORP - A USD ANNALY CAPITAL MANAGEMENT USD ANSYS INC USD ARTHUR J GALLAGHER & CO USD AUTOZONE INC USD BAXTER INTERNATIONAL INC USD BERKSHIRE HATHAWAY INC - B USD CHEVRON CORP USD CINTAS CORP USD CLOROX COMPANY USD COCA-COLA CO/THE USD COMCAST CORP - A USD DARDEN RESTAURANTS INC USD DAVITA INC USD ECOLAB INC USD EQUIFAX INC USD EXPEDITORS INTL WASH INC USD INTERNATIONAL PAPER CO USD INTERPUBLIC GROUP OF COS INC USD INTL BUSINESS MACHINES CORP USD INTL FLAVORS & FRAGRANCES USD INTUIT INC USD JOHNSON & JOHNSON USD LOEWS CORP USD MASTERCARD INC - A USD MCDONALDS CORP USD MEDTRONIC PLC USD MERCK & CO INC USD METTLER - TOLEDO INTERNATIONAL USD MONSANTO CO USD MOTOROLA SOLUTIONS INC USD NEWELL BRANDS INC USD NEXTERA ENERGY INC USD NIKE INC - B USD NORTHROP GRUMMAN CORP USD OCCIDENTAL PETROLEUM CORP USD PEOPLES UNITED FINANCIAL USD PEPSICO INC USD PFIZER INC USD PRAXAIR INC USD PROCTER & GAMBLE CO/THE USD RAYTHEON COMPANY USD ROCKWELL COLLINS INC USD ROPER TECHNOLOGIES INC USD SCHLUMBERGER LTD USD SIRIUS XM HOLDINGS INC USD SPECTRA ENERGY CORP USD STANLEY BLACK & DECKER INC USD STARBUCKS CORP USD STRYKER CORP USD SYNOPSYS INC USD TARGET CORP USD THERMO FISHER SCIENTIFIC INC USD THOMSON REUTERS CORP CAD TORCHMARK CORP USD TOTAL SYSTEM SERVICES INC USD TRANSDIGM GROUP INC USD UNITEDHEALTH GROUP INC USD US BANCORP USD VARIAN MEDICAL SYSTEMS INC USD VISA INC - A SHARES USD WALT DISNEY CO/THE USD XCEL ENERGY INC USD Singapore CAPITALAND MALL TRUST SGD HUTCHISON PORT HOLDINGS TR-U USD OVERSEA-CHINESE BANKING CORP SGD SATS LTD SGD SINGAPORE AIRLINES LTD SGD SINGAPORE EXCHANGE LTD SGD SINGAPORE PRESS HOLDINGS LTD SGD STARHUB LTD SGD Canada CAE INC CAD CAN IMPERIAL BANK OF COMMERCE CAD ENBRIDGE INC CAD GILDAN ACTIVEWEAR INC CAD GREAT-WEST LIFECO INC CAD IMPERIAL OIL LTD CAD PEMBINA PIPELINE CORP CAD TORONTO-DOMINION BANK CAD France AIR LIQUIDE SA EUR DASSAULT SYSTEMES SA EUR IMERYS SA EUR SODEXO EUR TOTAL SA EUR VIVENDI EUR United Kingdom BP PLC GBP GLAXOSMITHKLINE PLC GBP MERLIN ENTERTAINMENT GBP NEXT PLC GBP RELX PLC GBP WILLIS TOWERS WATSON PLC USD WPP PLC GBP Hong Kong HANG SENG BANK LTD HKD HK ELECTRIC INVESTMENTS -SS HKD HONG KONG & CHINA GAS HKD MTR CORP HKD Japan CANON INC JPY TONENGENERAL SEKIYU KK JPY Australia AMCOR LTD AUD BRAMBLES LTD AUD CSL LTD AUD TATTS GROUP LTD AUD WOODSIDE PETROLEUM LTD AUD Page 183

186 Equity World Low Volatility Expressed in EUR Switzerland KUEHNE & NAGEL INTL AG - REG CHF NESTLE SA - REG CHF TE CONNECTIVITY LTD USD Israel BANK HAPOALIM BM ILS CHECK POINT SOFTWARE TECHNOLOGIE USD Italy SNAM SPA EUR Germany MAN SE EUR SYMRISE AG EUR Sweden HENNES & MAURITZ AB - B SEK Luxembourg SES EUR New Zealand FLETCHER BUILDING LTD NZD The Netherlands RELX N.V. EUR Belgium GROUPE BRUXELLES LAMBERT SA EUR Bermuda EVEREST RE GROUP LTD USD Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY WORLD PURE LOW VOLATILITY - I - CAP EUR PARWORLD EQUITY WORLD DEFI - I - CAP USD Total securities portfolio Page 184

187 Equity World Materials Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America AIR PRODUCTS AND CHEMICALS INC USD AXALTA COATING SYSTEMS LTD USD BALL CORP USD BERRY PLASTICS GROUP INC USD CELANESE CORP SERIES A USD CHEMTURA CORP USD CROWN HOLDINGS INC USD DOW CHEMICAL CO/THE USD DU PONT (E.I.) DE NEMOURS USD EASTMAN CHEMICAL CO USD ECOLAB INC USD FERRO CORP USD GRANITE CONSTRUCTION INC USD INTERNATIONAL PAPER CO USD INTL FLAVORS & FRAGRANCES USD LYONDELLBASELL INDU - A USD MONSANTO CO USD NEENAH PAPER INC USD NEWMONT MINING CORP USD NUCOR CORP USD PACKAGING CORP OF AMERICA USD PRAXAIR INC USD RELIANCE STEEL & ALUMINUM USD STEEL DYNAMICS INC USD VULCAN MATERIALS CO USD WESTLAKE CHEMICAL CORP USD Canada AGNICO EAGLE MINES LTD USD BARRICK GOLD CORP CAD CAMECO CORP CAD FIRST QUANTUM MINERALS LTD CAD GOLDCORP INC CAD METHANEX CORP USD POTASH CORP OF SASKATCHEWAN CAD Australia ALUMINA LTD AUD BHP BILLITON LTD AUD BHP BILLITON PLC GBP United Kingdom ANTOFAGASTA PLC GBP JOHNSON MATTHEY PLC GBP RIO TINTO LTD AUD RIO TINTO PLC GBP Germany BASF SE EUR LINDE AG EUR Japan KOBE STEEL LTD JPY MITSUBISHI MATERIALS CORP JPY MITSUI CHEMICALS INC JPY NITTO DENKO CORP JPY SUMITOMO CHEMICAL CO LTD JPY Switzerland GIVAUDAN - REG CHF SYNGENTA AG - REG CHF Ireland CRH PLC EUR France AIR LIQUIDE SA EUR The Netherlands AKZO NOBEL EUR Jersey Island RANDGOLD RESOURCES LTD GBP Luxembourg ARCELORMITTAL EUR Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 185

188 Equity World Technology Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ADOBE SYSTEMS INC USD AKAMAI TECHNOLOGIES INC USD ALLIANCE DATA SYSTEMS CORP USD ALPHABET INC - A USD AMPHENOL CORP - A USD ANALOG DEVICES INC USD APPLE INC USD AUTOMATIC DATA PROCESSING USD CIENA CORP USD CISCO SYSTEMS INC USD COGNIZANT TECH SOLUTIONS - A USD CORNING INC USD EBAY INC USD ELECTRONIC ARTS INC USD FACEBOOK INC - A USD FIDELITY NATIONAL INFO SERV USD FIRST SOLAR INC USD FITBIT INC - A USD FORTINET INC USD INTEL CORP USD INTL BUSINESS MACHINES CORP USD INVENSENSE INC USD LAM RESEARCH CORP USD MASTERCARD INC - A USD MICROSEMI CORP USD MICROSOFT CORP USD NEW RELIC INC USD NVIDIA CORP USD PALO ALTO NETWORKS INC USD PAYPAL HOLDINGS INC - W/I USD PROOFPOINT INC USD PTC INC USD QUALCOMM INC USD SALESFORCE.COM INC USD SERVICENOW INC USD SPLUNK INC USD SYMANTEC CORP USD TABLEAU SOFTWARE INC - A USD ULTIMATE SOFTWARE GROUP INC USD VANTIV INC - A USD VERISIGN INC USD VISA INC - A SHARES USD WESTERN DIGITAL CORP USD XILINX INC USD Japan CANON INC JPY KEYENCE CORP JPY MURATA MANUFACTURING CO LTD JPY NINTENDO CO LTD JPY Germany INFINEON TECHNOLOGIES AG EUR SAP SE EUR Singapore BROADCOM SHS USD The Netherlands ASML HOLDING NV EUR NXP SEMICONDUCTORS NV USD Ireland ACCENTURE PLC - A USD Switzerland TE CONNECTIVITY LTD USD Israel CYBERARK SOFTWARE LTD/ISRAEL USD China ALIBABA GROUP HOLDING-SP ADR USD TENCENT HOLDINGS LTD HKD Taiwan TAIWAN SEMICONDUCTOR - SP ADR USD Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 186

189 Equity World Telecom Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America AT&T INC USD CENTURYLINK INC USD FRONTIER COMMUNICATIONS CORP USD LEVEL 3 COMMUNICATIONS INC USD SBA COMMUNICATIONS CORP - A USD SPRINT CORP - W/I USD T-MOBILE US INC USD VERIZON COMMUNICATIONS INC USD Japan KDDI CORP JPY NIPPON TELEGRAPH & TELEPHONE JPY NTT DOCOMO INC JPY SOFTBANK GROUP CORP JPY United Kingdom BT GROUP PLC GBP INMARSAT PLC GBP VODAFONE GROUP PLC GBP France ILIAD SA EUR ORANGE EUR Canada BCE INC CAD ROGERS COMMUNICATIONS INC - B CAD TELUS CORP CAD TELUS CORP CAD Germany DEUTSCHE TELEKOM AG - REG EUR TELEFONICA DEUTSCHLAND HOLDING EUR Spain TELEFONICA SA EUR Singapore SINGAPORE TELECOMMUNICATIONS SGD Italy TELECOM ITALIA RSP EUR TELECOM ITALIA SPA EUR Switzerland SWISSCOM AG - REG CHF Australia TELSTRA CORP LTD AUD Norway TELENOR ASA NOK The Netherlands KONINKLIJKE KPN NV EUR Denmark TDC A/S DKK Belgium PROXIMUS EUR Finland ELISA OYJ EUR Luxembourg MILLICOM INTL CELLULAR-SDR SEK Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 187

190 Equity World Utilities Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ALLIANT ENERGY CORP USD AMEREN CORPORATION USD AMERICAN ELECTRIC POWER USD AMERICAN WATER WORKS CO INC USD BLACK HILLS CORP USD CALPINE CORP USD CMS ENERGY CORP USD DOMINION RESOURCES INC/VA USD DTE ENERGY COMPANY USD DUKE ENERGY CORP USD EDISON INTERNATIONAL USD EXELON CORP USD NEXTERA ENERGY INC USD NISOURCE INC USD P G & E CORP USD PINNACLE WEST CAPITAL USD PNM RESOURCES INC USD SEMPRA ENERGY USD SOUTHERN CO/THE USD UGI CORP USD WEC ENERGY GROUP INC USD United Kingdom CENTRICA PLC GBP NATIONAL GRID PLC GBP SEVERN TRENT PLC GBP UNITED UTILITIES GROUP PLC GBP Spain GAS NATURAL SDG SA EUR IBERDROLA SA EUR RED ELECTRICA CORPORACION SA EUR Japan CHUBU ELECTRIC POWER CO INC JPY CHUGOKU ELECTRIC POWER CO JPY HOKURIKU ELECTRIC POWER CO JPY KANSAI ELECTRIC POWER CO INC JPY OSAKA GAS CO LTD JPY SHIKOKU ELECTRIC POWER CO JPY TOHOKU ELECTRIC POWER CO INC JPY TOKYO GAS CO LTD JPY Italy ENEL SPA EUR SNAM SPA EUR TERNA SPA EUR Hong Kong CHEUNG KONG INFRASTRUCTURE HKD CLP HOLDINGS LTD HKD POWER ASSETS HOLDINGS LTD HKD France ENGIE EUR Australia AUSNET SERVICES AUD Germany E.ON SE EUR Canada FORTIS INC CAD Shares/Units in investment funds Luxembourg BNPP FLEXI I EQUITY USA MID CAP GROWTH - I - CAP USD Total securities portfolio Page 188

191 Flexible Bond Euro Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France BANQUE FED CREDIT MUTUEL 1.875% /11/2026 EUR BNP PARIBAS 0.750% 16-11/11/2022 EUR BNP PARIBAS 2.250% 16-11/01/2027 EUR BNP PARIBAS 2.875% 12-27/11/2017 EUR BPCE 2.000% 12-24/04/2018 EUR BPCE 2.875% 16-22/04/2026 EUR CREDIT LOGEMENT 5.454% 11-16/02/2021 EUR CREDIT MUTUEL ARKEA 3.250% /06/2026 EUR DANONE 0.167% 16-03/11/2020 EUR DEXIA CREDIT LOCAL 1.375% 14-18/09/2019 EUR FRANCE O.A.T % 15-25/05/2025 EUR FRANCE O.A.T % 14-25/05/2030 EUR FRANCE O.A.T % 12-25/10/2027 EUR FRANCE O.A.T % 98-25/04/2029 EUR LA BANQUE POSTALE 3.000% 16-09/06/2028 EUR LA POSTE 4.750% 04-08/07/2019 EUR SAGESS 0.625% 16-25/05/2023 EUR SOCIETE GENERALE 2.375% 12-28/02/2018 EUR Spain SPANISH GOVT 2.150% 15-31/10/2025 EUR SPANISH GOVT 2.750% 14-31/10/2024 EUR SPANISH GOVT 4.200% 05-31/01/2037 EUR SPANISH GOVT 4.850% 10-31/10/2020 EUR SPANISH GOVT 5.150% 13-31/10/2044 EUR SPANISH GOVT 5.900% 11-30/07/2026 EUR Italy FERROV DEL STATO 4.000% 13-22/07/2020 EUR INTESA SANPAOLO 3.928% 14-15/09/2026 EUR ITALY BTPS 1.250% 16-01/12/2026 EUR ITALY BTPS 1.450% 15-15/09/2022 EUR ITALY BTPS 4.000% 05-01/02/2037 EUR ITALY BTPS 5.500% 12-01/11/2022 EUR POSTE VITA 2.875% 14-30/05/2019 EUR TELECOM ITALIA 4.875% 13-25/09/2020 EUR Germany KFW 0.625% 15-15/01/2025 EUR LAND HESSEN 0.375% 16-06/07/2026 EUR Belgium ANHEUSER - BUSCH 1.500% 16-17/03/2025 EUR BELFIUS BANK SA 2.250% 13-26/09/2018 EUR BELGIUM GOVERNMENT 0.200% /10/2023 EUR Portugal PORTUGUESE OTS 4.100% 06-15/04/2037 EUR PORTUGUESE OTS 5.650% 13-15/02/2024 EUR Ireland IRISH GOVT 3.900% 13-20/03/2023 EUR The Netherlands ABN AMRO BANK NV 2.875% 15-30/06/2025 EUR Austria HAA-BANK INTL AG 2.375% 12-13/12/2022 EUR United Kingdom FCE BANK PLC 1.660% 16-11/02/2021 EUR Convertible bonds France AXA SA 3.750% 00-01/01/2017 CV FLAT EUR Floating rate bonds France BNP PARIBAS 07-29/04/2049 FRN EUR BNP PARIBAS 14-20/03/2026 FRN EUR BPCE 15-30/11/2027 FRN EUR LA BANQUE POSTALE 14-23/04/2026 FRN EUR LA BANQUE POSTALE 15-19/11/2027 FRN EUR Spain BBVA SUB CAP UNI 14-11/04/2024 FRN EUR Shares/Units in investment funds France BNP PARIBAS LCR 1 FCP EUR Total securities portfolio Page 189

192 Flexible Bond Europe Corporate Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ACCOR 2.625% 14-05/02/2021 EUR AIR LIQUIDE FIN 0.125% 16-13/06/2020 EUR AUTOROUTES PARIS 1.125% 14-15/01/2021 EUR CNP ASSURANCES 1.875% 16-20/10/2022 EUR CROWN EUROPEAN 2.625% 16-30/09/2024 EUR CROWN EUROPEAN 4.000% 14-15/07/2022 EUR EUTELSAT SA 2.625% 13-13/01/2020 EUR GALERIES LAFAYET 4.750% 12-26/04/2019 EUR ICADE 2.250% 14-16/04/2021 EUR IMERYS SA 2.500% 13-26/11/2020 EUR KERING 0.875% 15-28/03/2022 EUR PERNOD-RICARD SA 2.000% 14-22/06/2020 EUR PUBLICIS GROUPE 1.125% 14-16/12/2021 EUR RCI BANQUE 0.625% 16-10/11/2021 EUR SOCIETE GENERALE 1.000% 16-01/04/2022 EUR TEREOS FIN GROUP 4.125% 16-16/06/2023 EUR VIVENDI SA 0.750% 16-26/05/2021 EUR United Kingdom AVIVA PLC 0.100% 16-13/12/2018 EUR BABCOCK INTL GROUP 1.750% /10/2022 EUR BRITISH SKY BROADCASTING 1.500% /09/2021 EUR COMPASS GROUP 3.125% 12-13/02/2019 EUR FCE BANK PLC 1.875% 14-24/06/2021 EUR IMP BRANDS FIN 2.250% 14-26/02/2021 EUR INTL GAME TECH 4.125% 15-15/02/2020 EUR MONDI FINANCE PL 1.500% 16-15/04/2024 EUR RENTOKIL INITIAL 3.250% 13-07/10/2021 EUR SANTANDER UK GRP 1.125% 16-08/09/2023 EUR WORLDPAY FINANCE 3.750% 15-15/11/2022 EUR WPP FINANCE % 15-18/11/2019 EUR United States of America ABBVIE INC 0.375% 16-18/11/2019 EUR ALBEMARLE CORP 1.875% 14-08/12/2021 EUR AMERICAN EXPRESS 0.625% 16-22/11/2021 EUR AT&T INC 2.500% 13-15/03/2023 EUR GEN MOTORS FIN 0.955% 16-07/09/2023 EUR IBM CORP 0.500% 16-07/09/2021 EUR IMS HEALTH INC 3.500% 16-15/10/2024 EUR MOHAWK INDUSTRIES 2.000% 15-14/01/2022 EUR MONDELEZ INTERNATIONAL INC 1.625% /01/2023 EUR THERMO FISHER 0.750% 16-12/09/2024 EUR THERMO FISHER 1.500% 15-01/12/2020 EUR The Netherlands ADECCO INT FIN 1.500% 15-22/11/2022 EUR ASML HOLDING NV 3.375% 13-19/09/2023 EUR BHARTI AIRTEL IN 3.375% 14-20/05/2021 EUR BUNGE FINANCE EU 1.850% 16-16/06/2023 EUR HEINEKEN NV 1.250% 15-10/09/2021 EUR IHO VERWALTUNGS 2.750% 16-15/09/2021 EUR JAB HOLDINGS 2.125% 15-16/09/2022 EUR TENNET HLD BV 2.125% 13-01/11/2020 EUR TEVA PHARMACEUT FNC 1.250% /03/2023 EUR Italy BUZZI UNICEM 2.125% 16-28/04/2023 EUR CAMPARI MILANO 2.750% 15-30/09/2020 EUR EXOR SPA 2.125% 15-02/12/2022 EUR IGD 2.500% 16-31/05/2021 EUR IREN SPA 2.750% 15-02/11/2022 EUR MEDIOBANCA SPA 0.875% 14-14/11/2017 EUR SALINI IMPREGILO 3.750% 16-24/06/2021 EUR TELECOM ITALIA 3.250% 15-16/01/2023 EUR TELECOM ITALIA 3.625% 16-25/05/2026 EUR Luxembourg ARD FINANCE SA 6.625% 16-15/09/2023 EUR CNH IND FIN 2.750% 14-18/03/2019 EUR EUROFINS SCIENTIFIC 3.375% /01/2023 EUR GRAND CITY PROPERTIES 2.000% /10/2021 EUR HOLCIM FINANCE L 1.375% 16-26/05/2023 EUR PROLOGIS INTL II 2.875% 14-04/04/2022 EUR Sweden ATLAS COPCO AB 2.625% 12-15/03/2019 EUR MOLNLYCKE HLD 1.500% 14-28/02/2022 EUR SECURITAS AB 2.625% 13-22/02/2021 EUR SVENSKA CELLULOS 0.500% 16-26/05/2021 EUR SWEDISH MATCH 0.875% 16-23/09/2024 EUR SWEDISH MATCH 3.875% 10-24/11/2017 EUR Germany CRH FINANCE GERM 1.750% 14-16/07/2021 EUR DEUTSCHE WOHNEN 1.375% 15-24/07/2020 EUR KNORR BREMSE AG 0.500% 16-08/12/2021 EUR PROSIEBEN MEDIA 2.625% 14-15/04/2021 EUR UNITYMEDIA 5.500% 12-15/09/2022 EUR Spain AMADEUS CAP MKT 1.625% 15-17/11/2021 EUR CELLNEX TELECOM 2.375% 16-16/01/2024 EUR FERROVIAL EMISIO 0.375% 16-14/09/2022 EUR SANTANDER CONS FIN 1.100% /07/2018 EUR TELEFONICA EMIS 0.318% 16-17/10/2020 EUR Ireland FCA CAPITAL IRE 1.250% 16-21/01/2021 EUR FCA CAPITAL IRE 1.250% 16-23/09/2020 EUR PARTNERRE IRELAND 1.250% 16-15/09/2026 EUR SMURFIT KAPPA AQ 3.250% 14-01/06/2021 EUR Denmark CARLSBERG BREW 2.500% 14-28/05/2024 EUR ISS GLOBAL A/S 1.125% 15-07/01/2021 EUR Finland ELISA OYJ 2.250% 12-04/10/2019 EUR METSO OYJ 2.750% 12-04/10/2019 EUR Cayman Islands HUTCH WHAM FIN 1.375% 14-31/10/2021 EUR Bermuda BACARDI LTD 2.750% 13-03/07/2023 EUR Belgium ANHEUSER - BUSCH 0.625% 16-17/03/2020 EUR Page 190

193 Flexible Bond Europe Corporate Expressed in EUR Floating rate bonds Germany DAIMLER AG 16-12/01/2019 FRN EUR ENERGIE BADEN-WU 16-05/04/2077 FRN EUR Ireland ADAGI IV-X C 15-15/10/2029 FRN EUR ORWPK 1X BE 15-18/07/2029 FRN EUR The Netherlands CADOG 6X A1NV 15-15/07/2029 FRN EUR QNST X A /04/2023 FRN EUR Luxembourg JOHN DEERE BANK 16-21/04/2020 FRN EUR Other transferable securities Bonds The Netherlands KPNQWEST BV 8.875% 01-01/02/2008 DFLT EUR Floating rate bonds United States of America LEHMAN BROS HLDG 07-14/03/2049 SR DFLT EUR Shares/Units in investment funds Luxembourg BNPP FLEXI I BOND EURO FOCUS CORPORATE - I - CAP EUR PARVEST ENHANCED CASH 6 MONTHS - X CAP EUR France BNPP SHORT TERM EUROPEAN SECURITISATION - X EUR Total securities portfolio Page 191

194 Flexible Equity Europe Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United Kingdom BT GROUP PLC GBP DIAGEO PLC GBP INMARSAT PLC GBP KINGFISHER PLC GBP LLOYDS BANKING GROUP PLC GBP LONDON STOCK EXCHANGE GROUP GBP PRUDENTIAL PLC GBP RECKITT BENCKISER GROUP PLC GBP RIO TINTO PLC GBP SMITHS GROUP PLC GBP STANDARD CHARTERED PLC GBP UNILEVER NV - CVA EUR Germany BAYER AG - REG EUR DEUTSCHE BOERSE AG-TENDER EUR FRESENIUS MEDICAL CARE AG EUR LINDE AG EUR SAP SE EUR The Netherlands AKZO NOBEL EUR ASML HOLDING NV EUR ING GROEP NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR ROYAL DUTCH SHELL PLC - A GBP ROYAL DUTCH SHELL PLC - B GBP Spain AENA SA EUR AMADEUS IT GROUP SA EUR BANCO SANTANDER SA EUR GRIFOLS SA EUR GRIFOLS SA - B EUR MEDIASET ESPANA COMUNICACION EUR Ireland CRH PLC EUR EXPERIAN PLC GBP SHIRE PLC GBP Switzerland ROCHE HOLDING AG GENUSSCHEIN CHF SCHINDLER HOLDING - PART CERT CHF SWATCH GROUP AG/THE - BR CHF France ADP EUR AIR LIQUIDE SA EUR COMPAGNIE DE SAINT GOBAIN EUR Sweden ATLAS COPCO AB - A SEK HEXAGON AB - B SEK NORDEA BANK AB SEK Norway DNB ASA NOK Portugal JERONIMO MARTINS EUR Belgium ANHEUSER - BUSCH INBEV SA/NV EUR Finland SAMPO OYJ - A EUR Denmark CARLSBERG AS - B DKK Italy LUXOTTICA GROUP SPA EUR Luxembourg TENARIS SA EUR Total securities portfolio Page 192

195 Flexible Multi-Asset Expressed in EUR Shares/Units in investment funds Luxembourg ALPHA UCITS SICAV FAIR OAKS DNMC CRDT FD EUR BNP PARIBAS INSTICASH EUR - X - CAP EUR BNP PARIBAS INSTICASH USD - X - CAP USD BNPP EASY FTSE EPRA/NAREIT DEVELOPED EUROPE UCITS ETF - QD - DIS EUR DBX II EURO GOV BOND UCIT EUR DBX US TRU 1D SHS 1 - D USD PARVEST CONVERTIBLE BOND WORLD - X CAP USD PARVEST ENHANCED CASH 6 MONTHS - X CAP EUR PARVEST EQUITY EUROPE SMALL CAP - X CAP EUR PARVEST MULTI- ASSET INCOME EMERGING - X - CAP USD Ireland FISHER EMERGING MARKETS EQ - USD USD ISHARES CORE MSCI EMERGING MARKETS IMI UCITS ETF USD - ACC USD ISHARES HY CORP EUR ISHARES MSCI US SMALL CAP USD ISHARES USD CORP BOND UCITS ET USD ISHARES USD HIGH YIELD CORP BO USD SPDR S&P US HEALTH SELECT USD SPDR US TREASURY BOND ETF USD France LYXOR ETF EUROMTS GLOBAL EUR LYXOR UCITS ETF EURMTS GL INC EUR Guernsey Island FAIR OAKS INCOME FUND LTD USD United Kingdom SEQUOIA ECONOMIC INFRASTRUCT GBP Total securities portfolio Page 193

196 Global Environment Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ACUITY BRANDS INC-W/D USD AGILENT TECHNOLOGIES INC USD AMERICAN WATER WORKS CO INC USD BORGWARNER INC USD DANAHER CORP USD ECOLAB INC USD FORTIVE CORP USD HUBBELL INC USD IDEX CORP USD INGERSOLL-RAND PLC USD ITRON INC USD LKQ CORP USD PERKINELMER INC USD PRAXAIR INC USD ROPER TECHNOLOGIES INC USD SEALED AIR CORP USD THERMO FISHER SCIENTIFIC INC USD TORO CO USD TRIMBLE INC USD WASTE MANAGEMENT INC USD WATERS CORP USD WATTS WATER TECHNOLOGIES - A USD WESTROCK CO-WHEN ISSUED USD XYLEM INC USD Japan EAST JAPAN RAILWAY CO JPY HORIBA LTD JPY KUBOTA CORP JPY MURATA MANUFACTURING CO LTD JPY SEKISUI CHEMICAL CO LTD JPY United Kingdom DELPHI AUTOMOTIVE PLC USD INTERTEK GROUP PLC GBP PENNON GROUP PLC GBP SEVERN TRENT PLC GBP France SCHNEIDER ELECTRIC SE EUR SUEZ EUR Germany GEA GROUP AG EUR LINDE AG EUR SIEMENS AG - REG EUR Finland KEMIRA OYJ EUR Switzerland WOLSELEY PLC GBP Norway MARINE HARVEST NOK Taiwan DELTA ELECTRONIC INDUSTRIAL CO TWD China HUANENG RENEWABLES CORP - H HKD Spain APPLUS SERVICES SA EUR Hong Kong BEIJING ENTERPRISES WATER GR HKD Belgium UMICORE EUR Ireland KINGSPAN GROUP PLC EUR Total securities portfolio Page 194

197 Green Tigers Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Hong Kong ASM PACIFIC TECHNOLOGY LTD HKD BEIJING ENTERPRISES HOLDINGS HKD BEIJING ENTERPRISES WATER GR HKD CANVEST ENVIRONMENTAL PROTEC HKD CHINA EVERBRIGHT INTERNATIONAL LTD HKD CHINA GAS HOLDINGS LTD HKD CHINA HIGH SPEED TRANSMISSION HKD CHINA RESOURCES GAS GROUP LTD HKD CHINA WATER AFFAIRS GROUP HKD GUANGDONG INVESTMENT LTD HKD HONG KONG & CHINA GAS HKD LEE & MAN PAPER MANUFACTURING HKD MTR CORP HKD XINYI GLASS HOLDINGS LTD HKD South Korea COWAY CO LTD KRW LG DISPLAY CO LTD KRW LG ELECTRONICS INC KRW OCI CO LTD KRW SAMSUNG SDI CO LTD KRW SFA ENGINEERING CORP KRW Taiwan DELTA ELECTRONIC INDUSTRIAL CO TWD GIANT MANUFACTURING TWD TAIWAN SEMICONDUCTOR MANUFAC TWD UNITED MICROELECTRONICS CORP TWD YEONG GUAN ENERGY GROUP CO TWD India COROMANDEL INTERNATIONAL LTD INR CROMPTON GREAVES CONSUMER EL INR CROMPTON GREAVES LTD INR HAVELLS INDIA LTD INR INDRAPRASTHA GAS LTD INR JAIN IRRIGATION SYSTEMS LTD INR NHPC LTD INR PETRONET LNG LTD INR VA TECH WABAG LTD INR China CHINA CONCH VENTURE HOLDINGS HKD CRRC CORP LTD - H HKD ENN ENERGY HOLDINGS LTD HKD HUANENG RENEWABLES CORP - H HKD XINYI SOLAR HOLDINGS LTD HKD ZHUZHOU CRRC TIMES ELECTRIC HKD Singapore SIIC ENVIRON SHS SGD Philippines ENERGY DEVELOPMENT CORP PHP Other transferable securities Shares Hong Kong CHINA METAL RECYCLING HKD Total securities portfolio Page 195

198 Human Development Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America ABBVIE INC USD AETNA INC USD ALLERGAN PLC USD ALLSTATE CORP USD AMERICAN WATER WORKS CO INC USD AMGEN INC USD BAXTER INTERNATIONAL INC USD BIOGEN INC USD BIOMARIN PHARMACEUTICAL INC USD BRISTOL-MYERS SQUIBB CO USD CARDINAL HEALTH INC USD CELGENE CORP USD CIGNA CORP USD COLGATE-PALMOLIVE CO USD CVS HEALTH CORP USD DAVITA INC USD DEERE & CO USD EDWARDS LIFESCIENCES CORP USD ELI LILLY & CO USD EXPRESS SCRIPTS INC USD GENERAL MILLS INC USD GILEAD SCIENCES INC USD HARTFORD FINANCIAL SVCS GRP USD INCYTE CORP USD JOHNSON & JOHNSON USD KROGER CO USD MCKESSON CORP USD MEDTRONIC PLC USD MERCK & CO INC USD PFIZER INC USD THERMO FISHER SCIENTIFIC INC USD UNITEDHEALTH GROUP INC USD WASTE MANAGEMENT INC USD WHOLE FOODS MARKET INC USD XYLEM INC USD ZIMMER BIOMET HOLDINGS INC USD United Kingdom ASTRAZENECA PLC GBP AVIVA PLC GBP COMPASS GROUP PLC GBP JOHNSON MATTHEY PLC GBP RECKITT BENCKISER GROUP PLC GBP RELX PLC GBP UNILEVER PLC GBP Switzerland NESTLE SA - REG CHF NOVARTIS AG - REG CHF ROCHE HOLDING AG GENUSSCHEIN CHF SWISS RE AG CHF France AIR LIQUIDE SA EUR AXA SA EUR CARREFOUR SA EUR DANONE EUR ELIOR GROUP EUR SANOFI AVENTIS EUR VALEO SA EUR Japan AEON CO LTD JPY ASTELLAS PHARMA INC JPY EAST JAPAN RAILWAY CO JPY KUBOTA CORP JPY M3 INC JPY TAKEDA PHARMACEUTICAL CO LTD JPY TERUMO CORP JPY Germany ALLIANZ SE - REG EUR BASF SE EUR BAYER AG - REG EUR HENKEL AG & CO KGAA VORZUG EUR MERCK KGAA EUR The Netherlands KONINKLIJKE AHOLD DELHAIZE NV EUR KONINKLIJKE PHILIPS NV EUR Ireland SHIRE PLC GBP Denmark NOVO NORDISK A/S - B DKK Total securities portfolio Page 196

199 Money Market Euro Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds Germany DAIMLER AG 2.000% 12-05/05/2017 EUR DAIMLER AG 4.125% 10-19/01/2017 EUR Floating rate bonds France AIR LIQUIDE FIN 16-13/06/2018 FRN EUR BANQUE FED CREDIT MUTUEL /01/2018 FRN EUR DANONE 16-03/11/2018 FRN EUR SOCIETE GENERALE 15-22/07/2018 FRN EUR SOCIETE GENERALE 16-19/02/2018 FRN EUR United States of America JP MORGAN CHASE 15-12/06/2017 FRN EUR JP MORGAN CHASE 16-14/06/2018 FRN EUR UNITED TECHNOLOGIES CORP /02/2018 FRN EUR Canada BANK NOVA SCOTIA 16-20/04/2018 FRN EUR CAISSE CENT DESJ 15-15/09/2017 FRN EUR The Netherlands BMW FINANCE NV 16-31/05/2018 FRN EUR United Kingdom CREDIT SUISSE LD 16-19/02/2018 FRN EUR Spain SANTANDER INTL 16-08/03/2018 FRN EUR CREDIT DU NORD EONIACAP+0.410% /08/2017 CREDIT DU NORD EURIBOR+0.340% /06/2018 BMTN EUR EUR Money Market Instruments France BANCO BILBAO VIZCAYA AR 0.000% /02/2017 CD EUR BANCO BILBAO VIZCAYA AR 0.000% /10/2017 BT EUR BANQUE FED CREDIT MUTUEL EONIACAP+0.210% 02/10/2017 CD EUR BARCLAYS BANK EONIACAP+0.400% /06/2017 CD EUR BARCLAYS BANK EONIACAP+0.450% /06/2017 CD EUR BNP PARIBAS EONIACAP+0.310% /08/2017 CD EUR BNP PARIBAS EONIACAP+0.310% /08/2017 CD EUR BNP PARIBAS EONIACAP+0.350% /07/2017 CD EUR BPCE SA EONIACAP+0.220% 02/10/2017 CD EUR BPCE SA EONIACAP+0.330% 03/07/2017 CD EUR BRIE PICARDIE EONIACAP+0.270% /08/2017 CD EUR COTES D ARMOR EONIACAP+0.310% /06/2017 CD EUR CREDIT AGRIC EONIACAP+0.280% /08/2017 CD EUR CREDIT AGRIC EONIACAP+0.280% /08/2017 CD EUR CREDIT AGRICOLE EONIACAP+0.200% /10/2017 CD EUR CREDIT INDUSTRIEL EONIACAP+0.210% /10/2017 CD EUR GECINA SA 0.000% 20/02/2017 BT EUR HSBC FRANCE SA 0.000% 01/09/2017 CD EUR JYSKE BANK 0.000% 11/08/2017 CD EUR LANDESBANK BADEN-WUERTT 0.000% /04/2017 CD EUR LANDESBANK BADEN-WUERTT 0.000% /06/2017 CD EUR NATIXIS SA EONIACAP+0.320% /08/2017 CD EUR SEB SA 0.000% 20/03/2017 BT EUR UNICREDITO I EONIACAP+0.430% /04/2017 CD EUR Spain LETRAS 0.000% 16-07/04/2017 EUR SANTANDER CONSUMER FIN 0.000% /02/2017 CP EUR SANTANDER CONSUMER FIN 0.000% /02/2017 CP EUR SANTANDER CONSUMER FIN 0.000% /02/2017 ECP EUR The Netherlands ING BANK NV EONIACAP+0.335% /05/2017 CD EUR Belgium BNP PARIBAS FORTIS SA 0.000% /09/2017 CD EUR United Kingdom AVIVA PLC 0.000% 09/03/2017 CP EUR CREDIT SUISSE AG/LONDON 0.000% /06/2017 CD EUR Germany DZ BANK AG DEUTSCHE ZE 0.000% /10/2017 CP EUR LANDESBANK BADEN-WUERTT 0% /06/2017 CP EUR Denmark DANSKE BANK A/S 0.000% 20/10/2017 CP EUR Other transferable securities Shares/Units in investment funds Floating rate bonds France France BNP PARIBAS CASH INVEST - I - CAP EUR BNP PARIBAS INVEST 3 MOIS FCP EUR Total securities portfolio Page 197

200 Money Market USD Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Floating rate bonds United States of America DEXIA CREDIT SA NY 19/06/2017 FRN USD JP MORGAN SEC LL 16-19/10/2017 FRN USD STANDARD CHARTERED BANK /10/2017 FRN USD United Kingdom ANZ NEW ZEALAND INTL 16-18/01/2017 FRN USD ASB FINANCE LTD LONDON /06/2017 FRN USD BNZ INTL FUNDING 16-04/10/2017 FRN USD Other transferable securities Floating rate bonds United States of America ROYAL BANK OF CANADA 04/04/2017 ECP FRN USD Money Market Instruments United States of America ABN AMRO FUND 0.000% 16-06/01/2017 USD ABN AMRO FUND 0.000% 16-07/02/2017 USD ABN AMRO FUND 0.000% 16-17/01/2017 USD AMER ELEC POWER 0.000% 16-04/01/2017 USD AMER ELEC POWER 0.000% 16-09/01/2017 USD AXA FINANCIAL 0.000% 16-19/01/2017 USD BK TOKYO-MIT UFJ N 1.250% 16-19/04/2017 USD BK TOKYO-MIT UFJ N US0001M /03/2017 CD USD BK TOKYO-MIT UFJ N US0003M /08/2017 CD USD CITIBANK NA 1.060% 16-17/04/2017 USD CREDIT AGRICOLE CIB 0.900% /02/2017 USD CREDIT SUISSE NY 0.000% 16-09/05/2017 USD CREDIT SUISSE NY 0.000% 16-15/02/2017 USD CREDIT SUISSE NY US0001M 06/02/2017 CD USD CREDIT SUISSE NY US0001M 24/04/2017 CD USD DANSKE CORP 0.000% 16-03/04/2017 USD DANSKE CORP 0.000% 16-15/03/2017 USD DANSKE CORP 0.000% 16-17/02/2017 USD DANSKE CORP 0.000% 16-24/04/2017 USD DOMINION RESOUR 0.000% 16-09/01/2017 USD DOMINION RESOUR 0.000% 16-23/01/2017 USD DUKE ENERGY CORP 0.000% 16-11/01/2017 USD FORD MOTOR CRED 0.000% 16-02/02/2017 USD FORD MOTOR CRED 0.000% 16-03/02/2017 USD FORD MOTOR CRED 0.000% 16-04/01/2017 USD HP ENTERPRISE CO 0.000% 16-13/01/2017 USD ING US FUNDING LLC 0.000% 23/02/2017 CP USD KBC BANK NV NY 0.950% 16-01/02/2017 USD KBC BANK NV NY 0.950% 16-09/02/2017 USD KBC BANK NV NY 0.950% 16-17/02/2017 USD KBC BANK NV NY 0.950% 16-19/01/2017 USD KBC BANK NV NY 0.950% 16-25/01/2017 USD LLOYDS BANK NY US0001M 03/02/2017 CD USD MITSUB UFJ T&B US0001M 03/02/2017 CD USD MIZUHO BANK LTD 1.170% 16-09/02/2017 USD MIZUHO BANK LTD/NY 0.000% 16-27/02/2017 USD MIZUHO BK LTD/NY US0001M 17/05/2017 CD USD MIZUHO BK LTD/NY US0003M 25/08/2017 CD USD NORDEA BANK FIN NY US0003M /06/2017 CD USD NORINCHUKIN BANK US0001M /02/2017 CD USD NORINCHUKIN NY 1.250% 16-24/04/2017 USD NORINCHUKIN NY 1.260% 16-25/04/2017 USD ONEOK PARTNERS 0.000% 16-05/01/2017 USD SOUTHERN CO FDG 0.000% 16-05/01/2017 USD STANDARD CHARTERED BANK 1.330% /04/2017 CD USD STANDARD CHARTERED BANK NY /03/2017 CD USD STANDARD CHARTERED NY 1.060% /04/2017 USD SUMITOMO MITSUI NY US0001M /01/2017 CD USD SUMITOMO MITSUI NY US0001M /05/2017 CD USD SUMITOMO MITSUI NY US0001M /02/2017 CD USD SUMITOMO MITSUI NY US0001M /01/2017 CD USD SUMITOMO MITSUI NY US0001M /03/2017 CD USD UBS AG STAMFORD US0001M /02/2017 CD USD VOLVO TREAS NA LP 0.000% 16-03/01/2017 USD France BPCE 0.000% 16-01/02/2017 USD BPCE 0.000% 16-01/03/2017 USD BPCE 0.000% 16-09/01/2017 USD BRED BANQUE POPULAIRE 0.000% /01/2017 CD USD ELEC DE FRANCE 0.000% 15-06/01/2017 USD JYSKE BANK 0.000% 13/01/2017 CD USD KLEPIERRE 0.000% 06/03/2017 BT USD NATIXIS NY 1.220% 16-27/03/2017 USD Germany ERSTE ABWICKLUNG 0.000% 16-03/01/2017 USD ERSTE ABWICKLUNG 0.000% 16-06/02/2017 USD ERSTE ABWICKLUNG 0.000% 16-10/01/2017 USD ERSTE ABWICKLUNG 0.000% 16-18/01/2017 USD United Kingdom BNZ INTL FUNDING 0.000% 16-24/01/2017 USD MITSUBISHI UFJ TRUST % /01/2017 CD USD Canada CAISSE CENT DESJ 0.000% 16-12/01/2017 USD CAISSE CENT DESJ 0.000% 16-21/02/2017 USD SUNCOR ENERGY 0.000% 16-09/01/2017 USD SUNCOR ENERGY 0.000% 16-11/01/2017 USD SUNCOR ENERGY 0.000% 16-24/02/2017 USD Luxembourg BANQUE CAISSE EPAR 0.000% /02/2017 USD BANQUE CAISSE EPAR 0.000% /03/2017 USD Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH USD - I - CAP USD Total securities portfolio Page 198

201 Multi-Asset Income Emerging Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares China AGRICULTURAL BANK OF CHINA - H HKD BANK OF CHINA LTD - H HKD CHINA LIFE INSURANCE CO - H HKD CHINA TELECOM CORP LTD - H HKD GREAT WALL MOTOR COMPANY - H HKD HUANENG POWER INTL INC - H HKD SHENZHEN EXPRESSWAY CO - H HKD SUNNY OPTICAL TECH HKD TENCENT HOLDINGS LTD HKD Russia ACRON PJSC RUB ALROSA PAO RUB GAZPROM NEFT - SPONSORED ADR USD GAZPROM PAO -SPON ADR USD INTER RAO UES PJSC RUB LUKOIL PJSC - SPON ADR USD M VIDEO PAO RUB MAGNIT PJSC RUB MAGNIT PJSC-SPON GDR REGS USD MEGAFON - REG GDR USD MMC NORILSK NICKEL PJSC - ADR USD MOBILE TELESYSTEMS PJSC RUB MOSCOW EXCHANGE MICEX - RTS RUB NOVATEK PJSC-SPONS GDR REG S USD PHOSAGRO OAO - GDR REG USD ROSNEFT OIL CO PJSC-REG GDR USD RUSHYDRO PJSC - ADR USD SBERBANK OF RUSSIA PJSC RUB SBERBANK-PREFERENCE RUB SURGUTNEFTEGAS-PREFERENCE RUB TATNEFT - PREF 3 SERIES RUB TRANSNEFT PJSC RUB UNIPRO PJSC RUB X 5 RETAIL GROUP NV-REGS GDR USD Taiwan CTCI CORP TWD DELTA ELECTRONIC INDUSTRIAL CO TWD FORMOSA CHEMICALS & FIBRE TWD FUBON FINANCIAL HOLDING CO TWD PEGATRON CORP TWD PRESIDENT CHAIN STORE CORP TWD TAIWAN SEMICONDUCTOR MANUFAC TWD South Korea LG HOUSEHOLD & HEALTH CARE KRW POSCO KRW SAMSUNG ELECTRONICS - PREF KRW SHINHAN FINANCIAL GROUP LTD KRW SK INNOVATION CO LTD KRW Thailand BANGKOK BANK PCL-FOREIGN REG THB BANGKOK BANK PUBLIC CO-NVDR THB PTT PCL/FOREIGN THB Brazil ALUPAR INVESTIMENTO SA - UNIT BRL BB SEGURIDADE PARTICIPACOES BRL CIA DE TRANSMISSAO DE ENE-PF BRL CIA ENERGETICA DE SP-PREF B BRL CIA SANEAMENTO BASICO DE SP BRL CIA SANEAMENTO DO PARANA-PRF BRL DIRECIONAL ENGENHARIA SA BRL ENERGISA SA - UNITS BRL ITAU UNIBANCO HOLDING S-PREF BRL MAHLE-METAL LEVE SA BRL TELEFONICA BRASIL SA - PREF BRL TRANSMISSORA ALIANCA DE-UNIT BRL Turkey AKBANK T.A.S. TRY AKCANSA CIMENTO TRY BIM BIRLESIK MAGAZALAR AS TRY COCA-COLA ICECEK AS TRY ENKA INSAAT VE SANAYI AS TRY EREGLI DEMIR VE CELIK FABRIK TRY LOGO YAZILIM SANAYI VE TICAR TRY SODA SANAYII TRY TAT KONSERVE TRY TOFAS TURK OTOMOBIL FABRIKASI TRY TRAKYA CAM SANAYII AS TRY TUPRAS-TURKIYE PETROL RAFINE TRY TURK SISE VE CAM FABRIKALARI TRY TURKCELL ILETISIM HIZMET AS TRY TURKIYE GARANTI BANKASI TRY TURKIYE SINAI KALKINMA BANK TRY TURKIYE VAKIFLAR BANKASI T-D TRY India ICICI BANK LTD INR SUN PHARMACEUTICAL INDUSTRIES INR TATA CONSULTANCY SVCS LTD INR Poland ASSECO POLAND SA PLN BANK PEKAO SA PLN CCC SA PLN CYFROWY POLSAT SA PLN PFLEIDERER GROUP SA PLN PGE SA PLN PKO BANK POLSKI SA PLN POWSZECHNY ZAKLAD UBEZPIECZE PLN WARSAW STOCK EXCHANGE PLN Indonesia BANK CENTRAL ASIA TBK PT IDR MATAHARI DEPARTMENT STORE TB IDR Philippines ABOITIZ POWER CORP PHP PLDT INC PHP Greece ALPHA BANK A.E. EUR FF GROUP EUR MOTOR OIL (HELLAS) SA EUR NATIONAL BANK OF GREECE EUR Malaysia AXIATA GROUP BERHAD MYR Page 199

202 Multi-Asset Income Emerging Expressed in USD Mexico BOLSA MEXICANA DE VALORES SA MXN CONCENTRADORA FIBRA HOTELERA MXN FIBRA UNO ADMINISTRACION SA MXN KIMBERLY-CLARK DE MEXICO - A MXN Hong Kong CHINA STATE CONSTRUCTION INT HKD Hungary MOL HUNGARIAN OIL AND GAS PL HUF OTP BANK PLC HUF RICHTER GEDEON NYRT HUF Chile ENEL AMERICAS SA - ADR USD ENEL GENERACION CHILE SA CLP ITAU CORPBANCA CLP Czech Republic MONETA MONEY BANK AS CZK Switzerland LUXOFT HOLDING INC USD Cyprus GLOBALTRA-SPONS GDR REGS USD The Netherlands VIMPELCOM LTD-SPON ADR USD Kazakhstan KCELL JSC - REGS - W/I USD Guernsey Island ETALON GROUP-GDR REGS - W/I USD Bonds Brazil BRAZIL NTN-B 6.000% 16-15/05/2021 FLAT BRL BRAZIL NTN-F % 10-01/01/2021 FLAT BRL BRAZIL-LTN 0.000% 14-01/01/2018 FLAT BRL REP OF BRAZIL 5.625% 16-21/02/2047 USD Mexico MEXICAN BONOS 8.000% 10-11/06/2020 MXN MEXICAN BONOS 8.500% 09-31/05/2029 MXN MEXICAN UTD STS 6.750% 04-27/09/2034 USD PETROLEOS MEXICA 5.375% 16-13/03/2022 USD PETROLEOS MEXICA 6.375% 16-04/02/2021 USD PETROLEOS MEXICA 6.500% 11-02/06/2041 USD Colombia COLOMBIA TES % 09-24/07/2024 COP REP OF COLOMBIA % 03-28/01/2033 USD REP OF COLOMBIA 6.125% 09-18/01/2041 USD Indonesia INDONESIA GOVT 8.250% 10-15/07/2021 IDR PERTAMINA 4.875% 12-03/05/2022 USD PERTAMINA 5.625% 13-20/05/2043 USD REP OF INDONESIA 8.500% 05-12/10/2035 USD Singapore DBS BANK LTD/SP 3.625% 12-21/09/2022 USD United States of America US TREASURY N/B 1.000% 15-15/05/2018 USD US TREASURY N/B 2.750% 10-31/05/2017 USD Philippines PHILIPPINE GOVT 3.625% 15-09/09/2025 PHP REP OF PHILIPPINES 7.750% 06-14/01/2031 USD REP OF PHILIPPINES 9.500% 05-02/02/2030 USD Malaysia MALAYSIAN GOVT 3.659% 15-15/10/2020 MYR PETRONAS 7.625% 96-15/10/2026 USD Dominican Republic REP OF DOMINICAN 6.875% 16-29/01/2026 USD REP OF DOMINICAN 8.625% 06-20/04/2027 USD Egypt EGYPT 5.750% 10-29/04/2020 USD Ukraine UKRAINE GOVT 7.750% 15-01/09/2019 USD Turkey GARANTI BANKASI 4.750% 14-17/10/2019 USD REP OF TURKEY 6.625% 14-17/02/2045 USD REP OF TURKEY 7.375% 05-05/02/2025 USD Hungary REP OF HUNGARY 6.375% 11-29/03/2021 USD Luxembourg PETROBRAS INTL 5.375% 11-27/01/2021 USD PETROBRAS INTL 7.875% 09-15/03/2019 USD Cayman Islands OCEAN WEALTH 5.250% 15-07/07/2017 CNY British Virgin Islands SINOCHEM OFFSH 3.550% 14-13/05/2017 CNY STARWAY ASSETS 4.100% 14-22/01/2017 CNY Argentina ARGENTINA - USD DIS 7.500% 16-22/04/2026 USD ARGENTINA 5.000% 16-15/01/2027 EUR Uruguay URUGUAY 7.625% 06-21/03/2036 USD Panama PANAMA 6.700% 06-26/01/2036 USD PANAMA 9.375% 99-01/04/2029 USD Poland REP OF POLAND 3.250% 16-06/04/2026 USD REP OF POLAND 5.000% 11-23/03/2022 USD Croatia CROATIA 6.625% 10-14/07/2020 USD Georgia BGEO GROUP JSC 6.000% 16-26/07/2023 USD JSC GEORGIAN RAILWAY 7.750% /07/2022 USD Peru REP OF PERU 5.700% 14-12/08/2024 PEN REP OF PERU 8.750% 03-21/11/2033 USD Chile EMPRESA NACIONAL 3.750% 16-05/08/2026 USD Ireland ALFA BANK 7.500% 12-26/09/2019 USD Costa Rica COSTA RICA 4.375% 13-30/04/2025 USD Page 200

203 Multi-Asset Income Emerging Expressed in USD Russia RUSSIA % 98-24/06/2028 USD South Africa SOUTH AFRICA 5.375% 14-24/07/2044 USD Ecuador REP OF ECUADOR % 16-28/03/2022 USD Cameroon REP OF CAMEROON 9.500% 15-19/11/2025 USD Venezuela VENEZUELA 7.000% 07-31/03/2038 USD Ghana REP OF GHANA 9.250% 16-15/09/2022 USD Namibia NAMIBIA INTL BND 5.500% 11-03/11/2021 USD Azerbaijan INTL BANK OF AZERB 5.625% 14-11/06/2019 USD Sri Lanka REP OF SRI LANKA 6.825% 16-18/07/2026 USD Zambia REP OF ZAMBIA 8.500% 14-14/04/2024 USD Surinam REP OF SURINAME 9.250% 16-26/10/2026 USD El Salvador REP OF EL SALVADOR 8.250% 02-10/04/2032 USD Australia CHINA CONST BK/S 3.800% 14-29/09/2017 CNY Hong Kong BANK OF CHINA/AB 3.600% 15-30/06/2017 CNY Romania ROMANIA 6.125% 14-22/01/2044 USD Jamaica JAMAICA GOVT 8.000% 07-15/03/2039 USD The Netherlands PETROBRAS 8.750% 16-23/05/2026 USD Trinidad & Tobago PETROTRIN 9.750% 09-14/08/2019 USD Floating rate bonds Ivory Coast IVORY COAST 10-31/12/2032 SR FLAT USD Cayman Islands KALUS 17 A 16-27/04/2019 FRN USD Malaysia MALAYAN BANKING 16-29/10/2026 FRN USD Argentina BANCO MACRO SA 16-04/11/2026 FRN USD Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH USD - X - CAP USD Total securities portfolio Page 201

204 Real Estate Securities Europe Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United Kingdom CAPITAL & REGIONAL PLC GBP DERWENT LONDON PLC GBP GREAT PORTLAND ESTATES PLC GBP LAND SECURITIES GROUP PLC GBP SEGRO PLC GBP UNITE GROUP PLC GBP URBAN & CIVIC PLC GBP France ICADE EUR KLEPIERRE EUR MERCIALYS EUR UNIBAIL RODAMCO SE EUR Germany ADO PROPERTIES SA EUR DEUTSCHE WOHNEN AG - BR EUR LEG IMMOBILIEN AG EUR VONOVIA SE EUR Sweden CASTELLUM AB SEK KUNGSLEDEN AB SEK Spain HISPANIA ACTIVOS INMOBILIARI EUR MERLIN PROPERTIES SOCIMI SA EUR The Netherlands EUROCOMMERCIAL PROPERTIE NV EUR NSI NV EUR WERELDHAVE NV EUR Luxembourg GRAND CITY PROPERTIES EUR Finland CITYCON OYJ EUR TECHNOPOLIS OYJ EUR Switzerland PSP SWISS PROPERTY AG - REG CHF SWISS PRIME SITE - REG CHF Norway ENTRA ASA NOK Italy COIMA RES SPA EUR Total securities portfolio Page 202

205 Real Estate Securities Pacific Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares Japan ACTIVIA PROPERTIES INC JPY DAIWA OFFICE INVESTMENT CORP JPY INVINCIBLE INVESTMENT CORP JPY JAPAN HOTEL REIT INVESTMENT JPY KENEDIX RETAIL REIT CORP JPY LASALLE LOGIPORT REIT JPY MITSUBISHI ESTATE CO LTD JPY MITSUI FUDOSAN CO LTD JPY MORI HILLS REIT INVESTMENT C JPY NIPPON PROLOGIS REIT INC JPY NTT URBAN DEVELOPMENT CORP JPY Australia AVENTUS RETAIL PROPERTY FUND AUD GOODMAN GROUP AUD MIRVAC GROUP AUD NATIONAL STORAGE REIT AUD PROPERTYLINK GROUP AUD SCENTRE GROUP AUD STOCKLAND AUD WESTFIELD CORP AUD Hong Kong CHAMPION REIT HKD CHEUNG KONG PROPERTY HOLDING HKD LINK REIT HKD SUN HUNG KAI PROPERTIES HKD SWIRE PROPERTIES LTD HKD Singapore ASCENDAS REAL ESTATE INV TRT SGD CACHE LOGISTICS TRUST SGD GLOBAL LOGISTIC PROPERTIES SGD KEPPEL DC REIT SGD RHT HEALTH TRUST SGD UOL GROUP LTD SGD Total securities portfolio Page 203

206 Real Estate Securities World Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America BOSTON PROPERTIES INC USD BRANDYWINE REALTY TRUST USD CYRUSONE INC USD GENERAL GROWTH PROPERTIES USD KIMCO REALTY CORP USD LIFE STORAGE INC USD MID-AMERICA APARTMENT COMM USD PARAMOUNT GROUP INC USD PENN REAL ESTATE INVEST TST USD PROLOGIS INC USD PUBLIC STORAGE USD QTS REALTY TRUST INC - A USD REGENCY CENTERS CORP USD SIMON PROPERTY GROUP INC USD Japan DAIWA OFFICE INVESTMENT CORP JPY JAPAN HOTEL REIT INVESTMENT JPY KENEDIX RETAIL REIT CORP JPY MITSUI FUDOSAN CO LTD JPY NIPPON PROLOGIS REIT INC JPY NTT URBAN DEVELOPMENT CORP JPY Australia AVENTUS RETAIL PROPERTY FUND AUD GOODMAN GROUP AUD MIRVAC GROUP AUD SCENTRE GROUP AUD France ICADE EUR KLEPIERRE EUR Hong Kong CHEUNG KONG PROPERTY HOLDING HKD Germany DEUTSCHE WOHNEN AG - BR EUR VONOVIA SE EUR Spain MERLIN PROPERTIES SOCIMI SA EUR United Kingdom DERWENT LONDON PLC GBP The Netherlands INTERXION HOLDING NV USD Sweden CASTELLUM AB SEK Finland TECHNOPOLIS OYJ EUR Singapore GLOBAL LOGISTIC PROPERTIES SGD Total securities portfolio Page 204

207 SMaRT Food Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares United States of America AGCO CORP USD BEMIS COMPANY USD CAMPBELL SOUP CO USD DARLING INGREDIENTS INC USD ECOLAB INC USD GNC HOLDINGS INC - A USD SEALED AIR CORP USD SONOCO PRODUCTS CO USD SPROUTS FARMERS MARKET INC USD TRIMBLE INC USD UNITED NATURAL FOODS INC USD WESTROCK CO-WHEN ISSUED USD WHOLE FOODS MARKET INC USD United Kingdom CRANSWICK PLC GBP DAIRY CREST GROUP PLC GBP DS SMITH PLC GBP GENUS PLC GBP MARKS & SPENCER GROUP PLC GBP UNILEVER NV - CVA EUR The Netherlands CORBION NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR KONINKLIJKE DSM NV EUR Switzerland ARYZTA AG CHF NESTLE SA - REG CHF Ireland SMURFIT KAPPA GROUP PLC EUR TOTAL PRODUCE PLC EUR Norway LEROEY SEAFOOD GROUP ASA NOK SALMAR ASA NOK TOMRA SYSTEMS ASA NOK Austria LENZING AG EUR Germany GEA GROUP AG EUR China GREATVIEW ASEPTIC PACKAGING HKD South Korea COWAY CO LTD KRW France DANONE EUR Portugal JERONIMO MARTINS EUR Canada CANADIAN PACIFIC RAILWAY LTD CAD South Africa TIGER BRANDS LTD ZAR Japan KUBOTA CORP JPY Total securities portfolio Page 205

208 Step 90 Euro Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares France AIRBUS SE EUR AXA SA EUR CREDIT AGRICOLE SA EUR ENGIE EUR ORANGE EUR SANOFI AVENTIS EUR SOCIETE GENERALE SA EUR TOTAL SA EUR VEOLIA ENVIRONNEMENT EUR VINCI SA EUR Germany ALLIANZ SE - REG EUR BASF SE EUR BAYER AG - REG EUR DAIMLER AG-REGISTERED SHARES EUR DEUTSCHE BANK AG - REG EUR DEUTSCHE POST AG - REG EUR DEUTSCHE TELEKOM AG - REG EUR FRESENIUS SE & CO KGAA EUR MUENCHENER RUECKVER AG - REG EUR SAP SE EUR SIEMENS AG - REG EUR Spain BANCO SANTANDER SA EUR The Netherlands AKZO NOBEL EUR ING GROEP NV EUR Finland NOKIA OYJ EUR Shares/Units in investment funds France BNP PARIBAS AM KLE EONIA PRIME FCP DIS EUR Total securities portfolio Page 206

209 Sustainable Bond Euro Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ACCOR 2.625% 14-05/02/2021 EUR AIR LIQUIDE FIN 0.125% 16-13/06/2020 EUR AIR LIQUIDE FIN 0.750% 16-13/06/2024 EUR AIR LIQUIDE FIN 2.125% 12-15/10/2021 EUR AXA BANK EUROPE 2.250% 12-19/04/2017 EUR BNP PARIBAS 0.500% 16-01/06/2022 EUR BNP PARIBAS 0.750% 16-11/11/2022 EUR BNP PARIBAS 2.250% 16-11/01/2027 EUR BPCE 0.375% 16-05/10/2023 EUR BPCE 0.625% 16-20/04/2020 EUR BPCE 2.875% 16-22/04/2026 EUR CARREFOUR SA 0.750% 16-26/04/2024 EUR CIE FINANCEMENT FONCIER 0.250% /03/2022 EUR CIE FINANCEMENT FONCIER 0.375% /10/2020 EUR CIE FINANCEMENT FONCIER 1.125% /03/2019 EUR COFIROUTE 0.375% 16-07/02/2025 EUR CREDIT AGRICOLE HOME 0.125% /08/2020 EUR CREDIT AGRICOLE SA 2.625% 15-17/03/2027 EUR CREDIT MUTUEL ARKEA 3.250% /06/2026 EUR CREDIT MUTUEL ARKEA 4.500% /04/2021 EUR DANONE 0.167% 16-03/11/2020 EUR DANONE 1.250% 13-06/06/2018 EUR DEXIA CREDIT LOCAL 0.040% 16-11/12/2019 EUR ELEC DE FRANCE 1.000% 16-13/10/2026 EUR EUTELSAT SA 1.125% 16-23/06/2021 EUR EUTELSAT SA 4.125% 10-27/03/2017 EUR FRANCE O.A.T % 16-25/05/2022 EUR FRANCE O.A.T % 15-25/11/2020 EUR FRANCE O.A.T % 15-25/05/2025 EUR FRANCE O.A.T % 16-25/05/2026 EUR FRANCE O.A.T % 15-25/11/2025 EUR FRANCE O.A.T % 16-25/05/2036 EUR FRANCE O.A.T % 15-25/05/2031 EUR FRANCE O.A.T % 12-25/10/2022 EUR FRANCE O.A.T % 13-25/05/2024 EUR FRANCE O.A.T % 14-25/05/2030 EUR FRANCE O.A.T % 11-25/10/2021 EUR FRANCE O.A.T % 13-25/05/2045 EUR FRANCE O.A.T % 10-25/04/2026 EUR GECINA 1.500% 15-20/01/2025 EUR IMERYS SA 0.875% 16-31/03/2022 EUR KLEPIERRE 2.750% 12-17/09/2019 EUR LA BANQUE POSTALE 1.875% 13-11/09/2020 EUR LA POSTE 4.500% 08-27/02/2018 EUR ORANGE 3.000% 12-15/06/2022 EUR R.A.T.P % 08-28/05/2018 EUR RESEAU FERRE FRANCE 5.000% /10/2033 EUR RTE RESEAU DE TR 1.625% 15-27/11/2025 EUR SANOFI 0.000% 16-13/01/2020 EUR SANOFI 0.625% 16-05/04/2024 EUR SCHNEIDER ELECTRIC 3.750% /07/2018 EUR SFIL 0.125% 16-18/10/2024 EUR SNCF RESEAU 1.000% 16-09/11/2031 EUR SOCIETE GENERALE 0.125% 16-05/10/2021 EUR ST GOBAIN 3.625% 12-15/06/2021 EUR ST GOBAIN 4.750% 07-11/04/2017 EUR Spain BANCO BILBAO VIZCAYA 1.000% /01/2021 EUR BANCO BILBAO VIZCAYA 3.625% /01/2017 EUR BANCO SANTANDER 2.875% 13-30/01/2018 EUR BANCO SANTANDER 3.625% 10-06/04/2017 EUR BANESTO 4.750% 12-24/01/2017 EUR BANKINTER SA 4.125% 12-22/03/2017 EUR CAJA RURAL NAV 0.625% 16-01/12/2023 EUR IBERCAJA 0.250% 16-18/10/2023 EUR IBERDROLA FIN SA 1.000% 16-07/03/2024 EUR INSTIT CRDT OFCL 0.100% 16-12/09/2018 EUR SANTANDER INTL 1.375% 15-14/12/2022 EUR SANTANDER ISSUAN 2.500% 15-18/03/2025 EUR SPANISH GOVT 0.250% 16-31/01/2019 EUR SPANISH GOVT 0.750% 16-30/07/2021 EUR SPANISH GOVT 1.950% 15-30/07/2030 EUR SPANISH GOVT 1.950% 16-30/04/2026 EUR SPANISH GOVT 2.150% 15-31/10/2025 EUR SPANISH GOVT 2.750% 14-31/10/2024 EUR SPANISH GOVT 3.800% 14-30/04/2024 EUR SPANISH GOVT 4.400% 13-31/10/2023 EUR SPANISH GOVT 4.600% 09-30/07/2019 EUR SPANISH GOVT 4.850% 10-31/10/2020 EUR SPANISH GOVT 5.150% 13-31/10/2044 EUR TELEFONICA EMIS 4.693% 09-11/11/2019 EUR TELEFONICA EMIS 5.811% 12-05/09/2017 EUR Italy ASSICURAZIONI GENERALI 2.875% /01/2020 EUR CASS RISP PARMA 0.250% 16-30/09/2024 EUR FERROV DEL STATO 4.000% 13-22/07/2020 EUR INTESA SANPAOLO 1.125% 15-14/01/2020 EUR INTESA SANPAOLO 1.375% 15-18/12/2025 EUR INTESA SANPAOLO 3.000% 13-28/01/2019 EUR INTESA SANPAOLO 3.500% 14-17/01/2022 EUR INTESA SANPAOLO 4.375% 12-15/10/2019 EUR INTESA SANPAOLO 5.000% 09-23/09/2019 EUR POSTE ITALIANE 3.250% 13-18/06/2018 EUR POSTE VITA 2.875% 14-30/05/2019 EUR SNAM SPA 1.500% 14-21/04/2023 EUR TERNA SPA 0.875% 15-02/02/2022 EUR TERNA SPA 4.750% 11-15/03/2021 EUR UNIONE DI BANCHE 0.375% 16-14/09/2026 EUR The Netherlands ABN AMRO BANK NV 2.875% 15-30/06/2025 EUR ADECCO INT FIN 2.750% 13-15/11/2019 EUR BANK NEDERLANDSE GEMEENTEN 0.050% /07/2024 EUR COOPERATIEVE RAB 0.125% 16-11/10/2021 EUR DEUTSCHE BAHN FIN 3.000% 12-08/03/2024 EUR DEUTSCHE BAHN FIN 3.750% 10-09/07/2025 EUR EDP FINANCE BV 1.125% 16-12/02/2024 EUR ENEL FINANCE INTL NV 1.966% /01/2025 EUR ENEL FINANCE INTL NV 4.875% /04/2023 EUR IBERDROLA INTL 0.375% 16-15/09/2025 EUR ING BANK NV 0.750% 16-22/02/2021 EUR NED WATERSCHAPBK 0.625% 14-03/07/2019 EUR Page 207

210 Sustainable Bond Euro Expressed in EUR NEDER FINANCIER 0.125% 15-20/04/2022 EUR NETHERLANDS GOVERNMENT 2.000% /07/2024 EUR NETHERLANDS GOVERNMENT 2.500% /01/2033 EUR NETHERLANDS GOVERNMENT 3.250% /07/2021 EUR RABOBANK 4.125% 10-14/01/2020 EUR Belgium BELGIAN RETAIL 2.250% 13-22/06/2023 EUR BELGIUM GOVERNMENT 0.800% /06/2025 EUR BELGIUM GOVERNMENT % /09/2021 EUR BELGIUM GOVERNMENT % /09/2019 EUR BELGIUM GOVERNMENT 1.000% /06/2031 EUR BELGIUM GOVERNMENT 1.000% /06/2026 EUR BELGIUM GOVERNMENT 2.600% /06/2024 EUR BELGIUM OLO % 06-28/03/2022 EUR BNP PARIBAS FORTIS BANK 5.757% /10/2017 EUR KBC BANK NV 1.250% 13-28/05/2020 EUR Germany BUNDESREPUBLIK DEUTSCHLAND 0.000% /08/2026 EUR BUNDESREPUBLIK DEUTSCHLAND 0.500% /02/2026 EUR BUNDESREPUBLIK DEUTSCHLAND 3.250% /07/2042 EUR BUNDESREPUBLIK DEUTSCHLAND 4.000% /01/2037 EUR BUNDESREPUBLIK DEUTSCHLAND 4.250% /07/2039 EUR BUNDESREPUBLIK DEUTSCHLAND 5.625% /01/2028 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR DEUTSCHE BOERSE 1.125% 13-26/03/2018 EUR HEIDELBERGCEMENT 1.500% 16-07/02/2025 EUR KFW 0.000% 16-15/09/2023 EUR KFW 0.375% 15-23/04/2030 EUR KFW 0.375% 16-09/03/2026 EUR KFW 0.625% 15-04/07/2022 EUR LAND HESSEN 0.125% 15-14/10/2019 EUR Supranational EFSF 1.625% 13-17/07/2020 EUR EIB 0.000% 16-16/10/2023 EUR EIB 1.000% 15-14/03/2031 EUR EIB 4.500% 09-15/10/2025 EUR EUROPEAN UNION 0.625% 15-04/11/2023 EUR United States of America AMER HONDA FIN 1.875% 13-04/09/2019 EUR AT&T INC 2.650% 13-17/12/2021 EUR IBM CORP 1.375% 12-19/11/2019 EUR IBM CORP 1.875% 13-06/11/2020 EUR JOHNSON&JOHNSON 0.650% 16-20/05/2024 EUR United Kingdom ABBEY NATIONAL TREASURY 0.875% /11/2020 EUR BRITISH TEL PLC 0.625% 16-10/03/2021 EUR CREDIT AGRICOLE 0.750% 16-01/12/2022 EUR CREDIT AGRICOLE 1.875% 16-20/12/2026 EUR CREDIT AGRICOLE 2.375% 13-27/11/2020 EUR UNILEVER NV 0.500% 16-29/04/2024 EUR UNILEVER NV 1.750% 13-05/08/2020 EUR Ireland ESB FINANCE LTD 4.375% 12-21/11/2019 EUR IRISH GOVT 2.000% 15-18/02/2045 EUR IRISH GOVT 5.400% 09-13/03/2025 EUR Portugal PORTUGUESE OTS 5.650% 13-15/02/2024 EUR Finland NORDEA BANK FINLAND 0.125% /06/2020 EUR NORDEA BANK FINLAND 2.375% /07/2017 EUR OP CORPORATE BANK 0.250% /05/2023 EUR Sweden SKANDINAVISKA ENSKILDA BANK 0.750% /08/2021 EUR Australia COM BK AUSTRALIA 0.500% 16-27/07/2026 EUR Latvia REP OF LATVIA 0.375% 16-07/10/2026 EUR Convertible bonds France AXA SA 3.750% 00-01/01/2017 CV FLAT EUR Floating rate bonds France AXA SA 13-04/07/2043 FRN EUR BPCE 14-08/07/2026 FRN EUR BPCE 15-30/11/2027 FRN EUR CNP ASSURANCES 11-30/09/2041 FRN EUR LA BANQUE POSTALE 14-23/04/2026 FRN EUR LA BANQUE POSTALE 15-19/11/2027 FRN EUR ORANGE 14-28/02/2049 FRN EUR SANOFI 14-10/09/2018 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR Germany ENERGIE BADEN-WU 11-02/04/2072 FRN EUR MUENCHENER RUECKVERSICHERUNG /06/2049 FRN EUR MUENCHENER RUECKVERSICHERUNG /05/2042 FRN EUR United Kingdom FCE BANK PLC 16-11/08/2018 FRN EUR Norway STATOIL ASA 15-17/08/2019 FRN EUR The Netherlands ING BANK NV 13-21/11/2023 FRN EUR Italy UNIONE DI BANCHE 16-05/05/2026 FRN EUR United States of America FEDEX CORP 16-11/04/2019 FRN EUR Spain BBVA SUB CAP UNI 14-11/04/2024 FRN EUR Shares/Units in investment funds France BNP PARIBAS MOIS ISR - I - CAP EUR Total securities portfolio Page 208

211 Sustainable Bond Euro Corporate Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds France ACCOR 2.625% 14-05/02/2021 EUR ACCOR 2.875% 12-19/06/2017 EUR AIR LIQUIDE FIN 0.125% 16-13/06/2020 EUR AIR LIQUIDE FIN 0.375% 16-18/04/2022 EUR ARKEMA 1.500% 15-20/01/2025 EUR AUTOROUTES DU SUD 1.000% /05/2026 EUR AUTOROUTES DU SUD 4.000% /09/2018 EUR AUTOROUTES DU SUD 4.125% /04/2020 EUR AXA SA 1.125% 16-15/05/2028 EUR BANQUE FED CREDIT MUTUEL 0.250% /06/2019 EUR BANQUE FED CREDIT MUTUEL 1.250% /01/2025 EUR BANQUE FED CREDIT MUTUEL 1.625% /01/2026 EUR BANQUE FED CREDIT MUTUEL 1.875% /11/2026 EUR BANQUE FED CREDIT MUTUEL 2.000% /09/2019 EUR BANQUE FED CREDIT MUTUEL 2.375% /03/2026 EUR BANQUE FED CREDIT MUTUEL 2.625% /03/2024 EUR BNP PARIBAS 0.500% 16-01/06/2022 EUR BNP PARIBAS 0.750% 16-11/11/2022 EUR BNP PARIBAS 1.125% 16-15/01/2023 EUR BNP PARIBAS 2.250% 14-13/01/2021 EUR BNP PARIBAS 2.250% 16-11/01/2027 EUR BNP PARIBAS 2.375% 15-17/02/2025 EUR BNP PARIBAS 2.750% 15-27/01/2026 EUR BNP PARIBAS 7.781% 08-29/06/2049 EUR BPCE 0.375% 16-05/10/2023 EUR BPCE 0.625% 16-20/04/2020 EUR BPCE 1.125% 15-14/12/2022 EUR BPCE 3.900% 09-30/10/2017 EUR BPCE 4.625% 13-18/07/2023 EUR BUREAU VERITAS 1.250% 16-07/09/2023 EUR CAP GEMINI SA 0.500% 16-09/11/2021 EUR CAP GEMINI SA 1.750% 15-01/07/2020 EUR CARREFOUR SA 0.750% 16-26/04/2024 EUR CFCM NORD EUROPE 2.125% 16-12/09/2026 EUR CIE DE ST GOBAIN 0.000% 16-27/03/2020 EUR CNP ASSURANCES 1.875% 16-20/10/2022 EUR COFACE 4.125% 14-27/03/2024 EUR COFIROUTE 0.375% 16-07/02/2025 EUR CREDIT AGRICOLE 3.900% 10-19/04/2021 EUR CREDIT AGRICOLE SA 0.875% 15-19/01/2022 EUR CREDIT AGRICOLE SA 2.625% 15-17/03/2027 EUR CROWN EUROPEAN 2.625% 16-30/09/2024 EUR DANONE 0.424% 16-03/11/2022 EUR DANONE 1.125% 15-14/01/2025 EUR DANONE 1.250% 13-06/06/2018 EUR DANONE 2.250% 13-15/11/2021 EUR ELEC DE FRANCE 1.000% 16-13/10/2026 EUR EUTELSAT SA 4.125% 10-27/03/2017 EUR FONCIERE DES REGIONS 1.875% /05/2026 EUR GDF SUEZ 2.375% 14-19/05/2026 EUR GDF SUEZ 2.625% 12-20/07/2022 EUR GDF SUEZ 2.750% 10-18/10/2017 EUR GECINA 1.000% 16-30/01/2029 EUR GECINA 2.000% 15-17/06/2024 EUR HOLDING DINFRA 2.250% 14-24/03/2025 EUR ICADE 1.125% 16-17/11/2025 EUR ICADE 1.875% 15-14/09/2022 EUR ICADE 2.250% 14-16/04/2021 EUR IMERYS SA 0.875% 16-31/03/2022 EUR IMERYS SA 2.500% 13-26/11/2020 EUR JCDECAUX SA 1.000% 16-01/06/2023 EUR KERING 0.875% 15-28/03/2022 EUR KERING 1.250% 16-10/05/2026 EUR KERING 1.375% 14-01/10/2021 EUR KLEPIERRE 1.000% 15-17/04/2023 EUR KLEPIERRE 1.250% 16-29/09/2031 EUR ORANGE 0.875% 16-03/02/2027 EUR ORANGE 1.000% 16-12/05/2025 EUR ORANGE 1.875% 13-02/10/2019 EUR ORANGE 3.125% 13-09/01/2024 EUR ORANGE 3.875% 10-09/04/2020 EUR PEUGEOT 2.375% 16-14/04/2023 EUR PEUGEOT 7.375% 13-06/03/2018 EUR PUBLICIS GROUPE 1.125% 14-16/12/2021 EUR PUBLICIS GROUPE 1.625% 14-16/12/2024 EUR RCI BANQUE 0.375% 16-10/07/2019 EUR RCI BANQUE 0.500% 16-15/09/2023 EUR RCI BANQUE 0.625% 16-10/11/2021 EUR RCI BANQUE 1.000% 16-17/05/2023 EUR RCI BANQUE 1.125% 14-30/09/2019 EUR RCI BANQUE 1.250% 15-08/06/2022 EUR RCI BANQUE 2.250% 14-29/03/2021 EUR RENAULT 3.125% 14-05/03/2021 EUR RENAULT 4.625% 12-18/09/2017 EUR RTE RESEAU DE TR 1.000% 16-19/10/2026 EUR SAN 0.950% 16-19/10/2028 EUR SANOFI 0.000% 16-13/09/2022 EUR SANOFI 0.625% 16-05/04/2024 EUR SANOFI 1.875% 13-04/09/2020 EUR SCHNEIDER ELEC 0.250% 16-09/09/2024 EUR SCHNEIDER ELECTRIC 1.500% /09/2023 EUR SOCIETE GENERALE 0.125% 16-05/10/2021 EUR SOCIETE GENERALE 0.750% 15-25/11/2020 EUR SOCIETE GENERALE 0.750% 16-19/02/2021 EUR SOCIETE GENERALE 0.750% 16-26/05/2023 EUR SOCIETE GENERALE 1.000% 16-01/04/2022 EUR SOCIETE GENERALE 2.250% 13-23/01/2020 EUR SOCIETE GENERALE 2.375% 12-28/02/2018 EUR SOCIETE GENERALE 2.625% 15-27/02/2025 EUR SOCIETE GENERALE 4.750% 11-02/03/2021 EUR ST GOBAIN 3.625% 12-15/06/2021 EUR SUEZ 1.750% 15-10/09/2025 EUR SUEZ 2.750% 13-09/10/2023 EUR TOTAL CAP INTL 2.125% 13-19/11/2021 EUR TOTAL CAPITAL 0.250% 16-12/07/2023 EUR UNIBAIL-RODAMCO 0.875% 16-21/02/2025 EUR UNIBAIL-RODAMCO 1.125% 16-28/04/2027 EUR UNIBAIL-RODAMCO 2.500% 14-26/02/2024 EUR VALEO SA 1.625% 16-18/03/2026 EUR VALEO SA 3.250% 14-22/01/2024 EUR VIVENDI SA 0.750% 16-26/05/2021 EUR Page 209

212 Sustainable Bond Euro Corporate Expressed in EUR The Netherlands ABB FINANCE BV 0.625% 16-03/05/2023 EUR ABN AMRO BANK NV 0.625% 16-31/05/2022 EUR ABN AMRO BANK NV 0.750% 15-09/06/2020 EUR ABN AMRO BANK NV 1.000% 15-16/04/2025 EUR ABN AMRO BANK NV 2.500% 13-29/11/2023 EUR ABN AMRO BANK NV 2.875% 15-30/06/2025 EUR ABN AMRO BANK NV 2.875% 16-18/01/2028 EUR ABN AMRO BANK NV 4.125% 12-28/03/2022 EUR ABN AMRO BANK NV 6.375% 11-27/04/2021 EUR ABN AMRO BANK NV 7.125% 12-06/07/2022 EUR ACHMEA BANK NV 0.875% 15-17/09/2018 EUR ACHMEA BV 2.500% 13-19/11/2020 EUR AEGON NV 1.000% 16-08/12/2023 EUR AKZO NOBEL NV 1.125% 16-08/04/2026 EUR ALLIANDER 0.875% 16-22/04/2026 EUR ALLIANZ FINANCE 0.000% 16-21/04/2020 EUR ALLIANZ FINANCE 1.375% 16-21/04/2031 EUR AMADEUS FINANCE 0.625% 14-02/12/2017 EUR ASML HOLDING NV 0.625% 16-07/07/2022 EUR ASML HOLDING NV 1.625% 16-28/05/2027 EUR BASF FIN EUROPNV 0.000% 16-10/11/2020 EUR BMW FINANCE NV 0.500% 15-21/01/2020 EUR BMW FINANCE NV 0.875% 15-17/11/2020 EUR BMW FINANCE NV 1.000% 16-15/02/2022 EUR BMW FINANCE NV 2.000% 13-04/09/2020 EUR BUNGE FINANCE EU 1.850% 16-16/06/2023 EUR COCA-COLA HBC BV 1.875% 16-11/11/2024 EUR COOPERATIEVE RAB 0.125% 16-11/10/2021 EUR CRH FINANCE BV 5.000% 12-25/01/2019 EUR CRH FUNDING 1.875% 15-09/01/2024 EUR DEUTSCHE BAHN FIN 0.875% 16-11/07/2031 EUR DEUTSCHE TEL FIN 0.625% 16-03/04/2023 EUR DEUTSCHE TEL FIN 2.000% 12-30/10/2019 EUR DSM NV 0.750% 16-28/09/2026 EUR EDP FINANCE BV 1.125% 16-12/02/2024 EUR EDP FINANCE BV 2.000% 15-22/04/2025 EUR EDP FINANCE BV 2.375% 16-23/03/2023 EUR ENBW 6.875% 08-20/11/2018 EUR ENEL FINANCE INTL NV 1.966% /01/2025 EUR ENEL FINANCE INTL NV 4.875% /04/2023 EUR ENEL FINANCE INTL NV 5.000% /09/2022 EUR ENEXIS HOLDING 0.875% 16-28/04/2026 EUR GAS NAT FENOSA F 1.250% 16-19/04/2026 EUR GAS NAT FENOSA F 3.500% 13-15/04/2021 EUR GAS NAT FENOSA F 3.875% 13-11/04/2022 EUR IBERDROLA INTL 0.375% 16-15/09/2025 EUR IBERDROLA INTL 1.125% 16-21/04/2026 EUR IBERDROLA INTL 1.750% 15-17/09/2023 EUR IBERDROLA INTL 1.875% 14-08/10/2024 EUR IBERDROLA INTL 2.500% 14-24/10/2022 EUR IBERDROLA INTL 2.875% 13-11/11/2020 EUR ING BANK NV 0.700% 15-16/04/2020 EUR ING BANK NV 0.750% 15-24/11/2020 EUR ING BANK NV 1.250% 14-13/12/2019 EUR ING BANK NV 1.875% 13-27/02/2018 EUR ING BANK NV 3.250% 12-03/04/2019 EUR LGE HOLDCO VI 7.125% 14-15/05/2024 EUR LINDE FINANCE BV 1.000% 16-20/04/2028 EUR METRO FINANCE BV 4.250% 10-22/02/2017 EUR NN GROUP NV 1.000% 15-18/03/2022 EUR RABOBANK 2.375% 13-22/05/2023 EUR RABOBANK 4.125% 10-14/01/2020 EUR RABOBANK 4.375% 06-07/06/2021 EUR RABOBANK 4.750% 08-15/01/2018 EUR RELX FINANCE 1.375% 16-12/05/2026 EUR REPSOL INTL FIN 2.625% 13-28/05/2020 EUR REPSOL INTL FIN 4.375% 12-20/02/2018 EUR ROCHE FINANCE EU 0.500% 16-27/02/2023 EUR SCHLUMBERGER FIN 1.500% 13-04/03/2019 EUR SHELL INTL FIN 0.750% 16-12/05/2024 EUR SHELL INTL FIN 1.250% 15-15/03/2022 EUR SIEMENS FINAN 1.700% 16-15/09/2021 USD SIEMENS FINAN 1.750% 13-12/03/2021 EUR TENNET HLD BV 1.000% 16-13/06/2026 EUR ZIGGO SECURED FI 4.250% 16-15/01/2027 EUR Spain ABERTIS 1.375% 16-20/05/2026 EUR ABERTIS 3.750% 13-20/06/2023 EUR AMADEUS CAP MKT 0.125% 16-06/10/2020 EUR AMADEUS CAP MKT 1.625% 15-17/11/2021 EUR BBVA SENIOR FIN 2.375% 14-22/01/2019 EUR BPE FINANCIACION 2.000% 15-03/02/2020 EUR CAIXABANK S.A 3.125% 13-14/05/2018 EUR CELLNEX TELECOM 2.375% 16-16/01/2024 EUR CELLNEX TELECOM 3.125% 15-27/07/2022 EUR ENAGAS FIN SA 1.375% 16-05/05/2028 EUR ENAGAS FIN SA 2.500% 14-11/04/2022 EUR FERROVIAL EMISIO 0.375% 16-14/09/2022 EUR FERROVIAL EMISIO 2.500% 14-15/07/2024 EUR FERROVIAL EMISIO 3.375% 13-07/06/2021 EUR FERROVIAL EMISIO 3.375% 13-30/01/2018 EUR GAS NATURAL CAP 4.500% 10-27/01/2020 EUR GAS NATURAL CAP 6.000% 12-27/01/2020 EUR IBERDROLA FIN SA 1.000% 16-07/03/2024 EUR MAPFRE 1.625% 16-19/05/2026 EUR RED ELECTRICA FI 1.000% 16-21/04/2026 EUR SANTANDER CONS FIN 0.750% /04/2019 EUR SANTANDER CONS FIN 0.900% /02/2020 EUR SANTANDER CONS FIN 1.100% /07/2018 EUR SANTANDER INTL 1.375% 15-14/12/2022 EUR SANTANDER INTL 1.375% 16-03/03/2021 EUR SANTANDER ISSUAN 3.250% 16-04/04/2026 EUR TELEFONICA EMIS 0.750% 16-13/04/2022 EUR TELEFONICA EMIS 1.460% 16-13/04/2026 EUR TELEFONICA EMIS 1.477% 15-14/09/2021 EUR TELEFONICA EMIS 3.961% 13-26/03/2021 EUR TELEFONICA EMIS 3.987% 13-23/01/2023 EUR United States of America ABBVIE INC 0.375% 16-18/11/2019 EUR AMERICAN EXPRESS 0.625% 16-22/11/2021 EUR BALL CORP 3.500% 15-15/12/2020 EUR BALL CORP 4.375% 15-15/12/2023 EUR BANK OF AMERICA CORP 0.750% /07/2023 EUR BMW US CAP LLC 0.625% 15-20/04/2022 EUR BMW US CAP LLC 1.125% 15-18/09/2021 EUR BMW US CAP LLC 1.850% 16-15/09/2021 USD COCA-COLA CO/THE 1.125% 14-22/09/2022 EUR COCA-COLA ENTER 2.375% 13-07/05/2025 EUR Page 210

213 Sustainable Bond Euro Corporate Expressed in EUR CONTL RUBBER 0.500% 15-19/02/2019 EUR ECOLAB INC 1.000% 16-15/01/2024 EUR ELI LILLY & CO 1.000% 15-02/06/2022 EUR ELI LILLY & CO 1.625% 15-02/06/2026 EUR EXPEDIA INC 2.500% 15-03/06/2022 EUR FEDEX CORP 0.500% 16-09/04/2020 EUR HUNTSMAN INT LLC 5.125% 14-15/04/2021 EUR JOHNSON&JOHNSON 0.250% 16-20/01/2022 EUR KELLOGG CO 1.000% 16-17/05/2024 EUR KRAFT HEINZ FOOD 1.500% 16-24/05/2024 EUR MCDONALDS CORP 1.000% 16-15/11/2023 EUR MONDELEZ INTERNATIONAL INC 1.000% /03/2022 EUR PEPSICO INC 1.750% 14-28/04/2021 EUR PROCTER & GAMBLE 1.125% 15-02/11/2023 EUR PROLOGIS LP 3.000% 13-18/01/2022 EUR SIMON PROPERTY GP LP 2.375% /10/2020 EUR THERMO FISHER 0.750% 16-12/09/2024 EUR VERIZON COMMUNICATIONS INC 0.500% /06/2022 EUR WHIRLPOOL CORP 0.625% 15-12/03/2020 EUR United Kingdom ABBEY NATIONAL TREASURY 2.000% /01/2019 EUR AON PLC 2.875% 14-14/05/2026 EUR AVIVA PLC 0.625% 16-27/10/2023 EUR COCA-COLA EURO 0.750% 16-24/02/2022 EUR COVENTRY BDG SOC 2.500% 13-18/11/2020 EUR CREDIT AGRICOLE 0.750% 16-01/12/2022 EUR CREDIT AGRICOLE 1.250% 16-14/04/2026 EUR CREDIT AGRICOLE 1.875% 16-20/12/2026 EUR CREDIT AGRICOLE 2.375% 13-27/11/2020 EUR CREDIT AGRICOLE 2.375% 14-20/05/2024 EUR DELPHI AUTOMTVE 1.600% 16-15/09/2028 EUR FCE BANK PLC 1.134% 15-10/02/2022 EUR FCE BANK PLC 1.528% 15-09/11/2020 EUR FCE BANK PLC 1.615% 16-11/05/2023 EUR FCE BANK PLC 1.660% 16-11/02/2021 EUR FCE BANK PLC 1.875% 14-24/06/2021 EUR ITV PLC 2.000% 16-01/12/2023 EUR NATIONAL GRID 0.625% 16-22/09/2024 EUR NATIONWIDE BLDG 1.125% 15-03/06/2022 EUR SANTANDER UK GRP 1.125% 16-08/09/2023 EUR UNILEVER NV 1.000% 15-03/06/2023 EUR VIRGIN MEDIA FIN 4.500% 15-15/01/2025 EUR VODAFONE GROUP 1.250% 16-25/08/2021 EUR YORKSHRE BLD SOC 1.250% 15-17/03/2022 EUR Germany ALLIANZ SE 3.875% 16-29/12/2049 USD BASF SE 0.875% 16-06/10/2031 EUR CONTINENTAL AG 0.000% 16-05/02/2020 EUR CONTINENTAL AG 3.125% 13-09/09/2020 EUR CRH FINANCE GERM 1.750% 14-16/07/2021 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR DAIMLER AG 0.500% 16-09/09/2019 EUR DAIMLER AG 0.875% 16-12/01/2021 EUR DAIMLER AG 1.500% 13-19/11/2018 EUR DEUTSCHE POST AG 0.375% 16-01/04/2021 EUR EUROGRID GMBH 1.500% 16-18/04/2028 EUR EVONIK 1.000% 15-23/01/2023 EUR HEIDELBERGCEMENT 1.500% 16-07/02/2025 EUR MERCK FIN SERVIC 0.750% 15-02/09/2019 EUR SAP SE 1.125% 14-20/02/2023 EUR TELFONICA DEUTSC 1.875% 13-22/11/2018 EUR THYSSENKRUPP 2.500% 15-25/02/2025 EUR Italy ASSICURAZIONI GENERALI 2.875% /01/2020 EUR ASSICURAZIONI GENERALI 4.125% /05/2026 EUR ASSICURAZIONI GENERALI 5.125% /09/2024 EUR INTESA SANPAOLO 1.125% 15-14/01/2020 EUR INTESA SANPAOLO 3.000% 13-28/01/2019 EUR INTESA SANPAOLO 4.375% 12-15/10/2019 EUR SNAM 0.000% 16-25/10/2020 EUR SNAM 0.875% 16-25/10/2026 EUR SNAM SPA 1.375% 15-19/11/2023 EUR SNAM SPA 1.500% 14-21/04/2023 EUR TELECOM ITALIA 3.250% 15-16/01/2023 EUR TELECOM ITALIA 3.625% 16-19/01/2024 EUR TELECOM ITALIA 3.625% 16-25/05/2026 EUR TERNA SPA 0.875% 15-02/02/2022 EUR TERNA SPA 1.000% 16-11/10/2028 EUR TERNA SPA 2.875% 12-16/02/2018 EUR Ireland CRH FINANCE 1.375% 16-18/10/2028 EUR DAA FINANCE PLC 1.554% 16-07/06/2028 EUR EATON CAPITAL 0.750% 16-20/09/2024 EUR ESB FINANCE LTD 1.875% 16-14/06/2031 EUR ESB FINANCE LTD 3.494% 13-12/01/2024 EUR GE CAP EUR FUND 2.625% 13-15/03/2023 EUR GE CAP EUR FUND 5.375% 09-23/01/2020 EUR SMURFIT KAPPA AQ 2.750% 15-01/02/2025 EUR SMURFIT KAPPA AQ 3.250% 14-01/06/2021 EUR WILLOW NO.2 PLC 3.375% 12-27/06/2022 EUR Luxembourg CNH IND FIN 2.750% 14-18/03/2019 EUR CNH IND FIN 2.875% 16-17/05/2023 EUR HEIDELCEMENT FIN 3.250% 13-21/10/2021 EUR NOVARTIS FINANCE 0.125% 16-20/09/2023 EUR SES SA 4.625% 10-09/03/2020 EUR TELENET FINANCE VI 4.875% 15-15/07/2027 EUR Sweden NORDEA BANK AB 1.000% 16-22/02/2023 EUR NORDEA BANK AB 1.125% 15-12/02/2025 EUR NORDEA BANK AB 1.375% 13-12/04/2018 EUR NORDEA BANK AB 2.000% 14-17/02/2021 EUR NORDEA BANK AB 2.250% 12-05/10/2017 EUR SKANDINAVISKA ENSKILDA BANK 0.750% /08/2021 EUR SKANDINAVISKA ENSKILDA BANK 2.000% /03/2019 EUR SVENSKA HANDELSBANKEN 1.125% /12/2022 EUR SVENSKA HANDELSBANKEN 2.250% /08/2020 EUR SWEDBANK AB 0.625% 15-04/01/2021 EUR Belgium BARRY CALLE SVCS 2.375% 16-24/05/2024 EUR BARRY CALLE SVCS 5.500% 13-15/06/2023 USD BNP PARIBAS FORTIS BANK 5.757% /10/2017 EUR KBC GROEP NV 1.000% 16-26/04/2021 EUR Page 211

214 Sustainable Bond Euro Corporate Expressed in EUR KBC GROUP NV 0.750% 16-18/10/2023 EUR SOLVAY SA 1.625% 15-02/12/2022 EUR UCB SA 1.875% 15-02/04/2022 EUR Norway DNB BANK ASA 1.125% 16-01/03/2023 EUR SPAREBANK 1 SR 0.375% 16-10/02/2022 EUR Austria TELEKOM FINANZ 1.500% 16-07/12/2026 EUR TELEKOM FINANZ 3.125% 13-03/12/2021 EUR WIENERBERGER AG 4.000% 13-17/04/2020 EUR Canada MAGNA INTERNATIONAL INC 1.900% /11/2023 EUR TORONTO DOMINION BANK 0.625% /03/2021 EUR TOTAL CAP CANADA 1.125% 14-18/03/2022 EUR Finland CRH FINLAND SERV 2.750% 13-15/10/2020 EUR Denmark DANSKE BANK A/S 0.500% 16-06/05/2021 EUR DANSKE BANK A/S 0.750% 16-02/06/2023 EUR Portugal BRISA CONCESSAO 2.000% 16-22/03/2023 EUR GALP GAS NATURAL 1.375% 16-19/09/2023 EUR Australia BRAMBLES FINANCE 2.375% 14-12/06/2024 EUR Poland SANTANDER CONSUMER 0.625% /04/2018 EUR Floating rate bonds France ARKEMA 14-29/10/2049 FRN EUR AXA SA 07-29/10/2049 FRN EUR AXA SA 13-04/07/2043 FRN EUR AXA SA 14-20/05/2049 FRN EUR AXA SA 16-06/07/2047 FRN EUR BNP PARIBAS 07-29/04/2049 FRN EUR BNP PARIBAS 14-20/03/2026 FRN EUR BNP PARIBAS 14-31/12/2049 FRN EUR BNP PARIBAS 16-29/12/2049 FRN USD BPCE 09-29/09/2049 FRN EUR BPCE 14-08/07/2026 FRN EUR BPCE 15-30/11/2027 FRN EUR CAISSE EPARG ECR 07-29/10/2049 FRN EUR CARREFOUR BANQUE 16-20/04/2021 FRN EUR CNP ASSURANCES 14-05/06/2045 FRN EUR CNP ASSURANCES 15-10/06/2047 FRN EUR CREDIT AGRICOLE ASSR 15-29/01/2049 FRN EUR CREDIT AGRICOLE ASSR 16-27/09/2048 FRN EUR CREDIT AGRICOLE SA 08-29/03/2049 FRN EUR CREDIT AGRICOLE SA 14-29/12/2049 FRN USD ENGIE 13-29/07/2049 FRN EUR ENGIE 14-02/06/2049 FRN EUR ORANGE 14-28/02/2049 FRN EUR SOCIETE GENERALE 09-29/09/2049 FRN EUR SOCIETE GENERALE 14-16/09/2026 FRN EUR SOCIETE GENERALE 16-29/12/2049 FRN USD SOLVAY FIN 13-29/05/2049 FRN EUR SUEZ 15-29/12/2049 FRN EUR SUEZ ENVIRONNEMENT 14-23/06/2049 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR TOTAL SA 16-29/12/2049 FRN EUR TOTAL SA 16-29/12/2049 FRN EUR The Netherlands ALLIANZ FINANCE 11-08/07/2041 FRN EUR COOPERATIEVE RAB 16-29/12/2049 FRN EUR GAS NAT FENOSA F 14-29/11/2049 FRN EUR GAS NAT FENOSA F 15-29/12/2049 FRN EUR GENERALI FINANCE 14-30/11/2049 FRN EUR IBERDROLA INTL 13-27/02/2049 FRN EUR ING BANK NV 08-29/05/2023 FRN EUR ING BANK NV 14-25/02/2026 FRN EUR ING BANK NV 16-11/04/2028 FRN EUR ING GROEP NV 16-29/12/2049 FRN USD ING VERZEKERING 02-07/05/2027 SR EUR ING VERZEKERING 14-08/04/2044 FRN EUR RABOBANK 14-26/05/2026 FRN EUR TELEFONICA EUROP 16-31/12/2049 FRN EUR Germany ALLIANZ SE 15-07/07/2045 FRN EUR DEUTSCHE BOERSE 15-05/02/2041 FRN EUR ENERGIE BADEN-WU 16-05/04/2077 FRN EUR MERCK 14-12/12/2074 FRN EUR MUENCHENER RUECKVERSICHERUNG /06/2049 FRN EUR MUENCHENER RUECKVERSICHERUNG /05/2042 FRN EUR Sweden NORDEA BANK AB 16-07/09/2026 FRN EUR SKANDINAVISKA ENSKILDA BANK /05/2026 FRN EUR SKANDINAVISKA ENSKILDA BANK /10/2028 FRN EUR SVENSKA HANDELSBANKEN /01/2024 FRN EUR Spain BANCO BILBAO VIZCAYA 15-29/12/2049 FRN EUR BANCO BILBAO VIZCAYA 16-29/12/2049 FRN EUR BANCO SANTANDER 14-12/03/2049 FRN EUR BBVA SUB CAP UNI 14-11/04/2024 FRN EUR CAIXABANK 13-14/11/2023 FRN EUR Belgium KBC GROEP NV 14-25/11/2024 FRN EUR KBC GROEP NV 15-11/03/2027 FRN EUR Italy ASSICURAZIONI GENERALI /07/2042 FRN EUR ENEL SPA 14-15/01/2075 FRN EUR SANPAOLO VITA 14-29/12/2049 FRN EUR Norway DNB BANK ASA 13-26/09/2023 FRN EUR DNB BANK ASA 16-29/12/2049 FRN USD United Kingdom AVIVA PLC 14-03/07/2044 FRN EUR Canada ROYAL BANK OF CANADA /08/2020 FRN TORONTO DOMINION BANK /09/2031 FRN EUR USD Portugal EDP SA 15-16/09/2075 FRN EUR Page 212

215 Sustainable Bond Euro Corporate Expressed in EUR Ireland ALLIED IRISH BANKS 15-29/12/2049 FRN EUR Denmark DANSKE BANK A/S 14-19/05/2026 FRN EUR Total securities portfolio Page 213

216 Sustainable Bond World Corporate Expressed in USD Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Bonds United States of America ABBVIE INC 0.375% 16-18/11/2019 EUR ADOBE SYSTEMS INC 4.750% 10-01/02/2020 USD AFLAC INC 3.625% 14-15/11/2024 USD ALBEMARLE CORP 5.450% 14-01/12/2044 USD ALLY FINANCIAL 4.250% 16-15/04/2021 USD AMER INTL GROUP 3.300% 16-01/03/2021 USD AMER INTL GROUP 3.900% 16-01/04/2026 USD AMERICAN EXPRESS 0.625% 16-22/11/2021 EUR AMERICAN TOWER 3.375% 16-15/10/2026 USD AMERICAN TOWER 3.500% 13-31/01/2023 USD AMERICAN TOWER 4.000% 15-01/06/2025 USD AMGEN INC 2.600% 16-19/08/2026 USD AMGEN INC 4.663% 16-15/06/2051 USD ANADARKO PETROLEUM 4.850% /03/2021 USD ANADARKO PETROLEUM 5.550% /03/2026 USD APACHE CORP 2.625% 12-15/01/2023 USD APACHE CORP 3.250% 12-15/04/2022 USD APACHE CORP 4.750% 12-15/04/2043 USD APPLE INC 2.500% 15-09/02/2025 USD AT&T INC 2.800% 16-17/02/2021 USD AT&T INC 4.125% 16-17/02/2026 USD AT&T INC 4.300% 13-15/12/2042 USD AT&T INC 4.450% 16-01/04/2024 USD AUTONATION INC 3.350% 15-15/01/2021 USD AUTONATION INC 5.500% 12-01/02/2020 USD BAKER HUGHES INC 5.125% 10-15/09/2040 USD BANK OF AMERICA CORP 0.750% /07/2023 EUR BANK OF AMERICA CORP 3.300% /01/2023 USD BANK OF AMERICA CORP 4.183% /11/2027 USD BANK OF AMERICA CORP 4.750% /04/2045 USD BMW US CAP LLC 0.625% 15-20/04/2022 EUR BMW US CAP LLC 1.125% 15-18/09/2021 EUR BORG-WARNER AUTO 4.375% 15-15/03/2045 USD BORG-WARNER AUTO 8.000% 99-01/10/2019 USD BOSTON PROPERTIES LP 3.650% /02/2026 USD BUNGE LTD FIN CP 3.250% 16-15/08/2026 USD CAPITAL ONE FINL 3.750% 16-28/07/2026 USD CAPITAL ONE FINL 4.200% 15-29/10/2025 USD CELGENE CORP 3.625% 14-15/05/2024 USD CELGENE CORP 5.000% 15-15/08/2045 USD CISCO SYSTEMS 2.950% 16-28/02/2026 USD CISCO SYSTEMS 5.900% 09-15/02/2039 USD COMCAST CORP 2.750% 16-01/03/2023 USD COMCAST CORP 4.200% 14-15/08/2034 USD COMCAST CORP 4.400% 15-15/08/2035 USD COMCAST CORP 6.450% 06-15/03/2037 USD CONOCOPHILLIPS CO 4.200% 16-15/03/2021 USD CONOCOPHILLIPS CO 4.950% 16-15/03/2026 USD CONSOLIDATED EDISON 3.850% /06/2046 USD CSX CORP 3.350% 15-01/11/2025 USD CSX CORP 4.100% 12-15/03/2044 USD CVS HEALTH CORP 3.500% 15-20/07/2022 USD CVS HEALTH CORP 3.875% 15-20/07/2025 USD DELPHI CORP 4.150% 14-15/03/2024 USD DIAMOND 1 FIN/DI 4.420% 16-15/06/2021 USD DISCOVER BANK 3.450% 16-27/07/2026 USD DISCOVER BANK 7.000% 10-15/04/2020 USD DOMINION RES 3.900% 15-01/10/2025 USD DOMINION RESOURCES 5.250% /08/2033 USD DOMINION RESOURCES 6.300% /03/2033 USD ECOLAB INC 1.000% 16-15/01/2024 EUR ECOLAB INC 4.350% 11-08/12/2021 USD EXELON CORP 3.400% 16-15/04/2026 USD EXELON CORP 3.950% 16-15/06/2025 USD EXELON CORP 4.450% 16-15/04/2046 USD EXELON GENERATION 6.200% 07-01/10/2017 USD FEDEX CORP 0.500% 16-09/04/2020 EUR FEDEX CORP 3.200% 15-01/02/2025 USD FEDEX CORP 4.900% 14-15/01/2034 USD FIFTH THIRD BANK 2.875% 15-27/07/2020 USD FIFTH THIRD BANK 3.500% 12-15/03/2022 USD FIFTH THIRD BANK 4.300% 13-16/01/2024 USD FISERV INC 2.700% 15-01/06/2020 USD FISERV INC 4.750% 11-15/06/2021 USD FIVE COR FND TRS 4.419% 13-15/11/2023 USD FORD MOTOR CO 6.625% 98-01/10/2028 USD FORD MOTOR CO 7.450% 99-16/07/2031 USD FORD MOTOR CRED 3.157% 15-04/08/2020 USD FORD MOTOR CRED 3.336% 16-18/03/2021 USD FORD MOTOR CRED 3.664% 14-08/09/2024 USD FORD MOTOR CRED 8.125% 09-15/01/2020 USD FORTIVE CORP 2.350% 16-15/06/2021 USD FORTIVE CORP 3.150% 16-15/06/2026 USD GEN ELECTRIC CO 4.500% 14-11/03/2044 USD GILEAD SCIENCES 5.650% 11-01/12/2041 USD HARTFORD FINL 5.125% 12-15/04/2022 USD HOME DEPOT INC 4.250% 15-01/04/2046 USD HUNTINGTON BANCS 2.300% 16-14/01/2022 USD IBM CORP 6.500% 98-15/01/2028 USD INGERSOLL-RAND GL 4.250% 14-15/06/2023 USD INTL PAPER CO 3.000% 16-15/02/2027 USD JOHN DEERE CAP 2.800% 16-06/03/2023 USD JOHNSON&JOHNSON 0.250% 16-20/01/2022 EUR KELLOGG CO 1.000% 16-17/05/2024 EUR KEY BANK NA 2.500% 16-22/11/2021 USD KIMBERLY-CLARK 6.625% 07-01/08/2037 USD KIMCO REALTY 3.125% 13-01/06/2023 USD KIMCO REALTY 3.200% 14-01/05/2021 USD KRAFT HEINZ FOOD 1.500% 16-24/05/2024 EUR KRAFT HEINZ FOOD 3.000% 16-01/06/2026 USD KRAFT HEINZ FOOD 4.375% 16-01/06/2046 USD MARATHON OIL CORP 3.850% 15-01/06/2025 USD MARATHON OIL CORP 5.200% 15-01/06/2045 USD MARRIOTT INTL 3.125% 16-15/06/2026 USD MCDONALDS CORP 1.000% 16-15/11/2023 EUR MEADWESTVACO CORP 7.375% /09/2019 USD NEWELL RUBBERMAID 3.150% /04/2021 USD NEWELL RUBBERMAID 5.500% /04/2046 USD NORDSTROM INC 5.000% 14-15/01/2044 USD NORTHERN TRUST CO 3.950% /10/2025 USD NVIDIA CORP 3.200% 16-16/09/2026 USD OCCIDENTAL PETE 3.400% 16-15/04/2026 USD Page 214

217 Sustainable Bond World Corporate Expressed in USD OCCIDENTAL PETE 4.400% 16-15/04/2046 USD ORACLE CORP 2.650% 16-15/07/2026 USD ORACLE CORP 4.300% 14-08/07/2034 USD PACIFIC GAS&ELEC 6.050% 04-01/03/2034 USD PIONEER NATURAL 7.500% 09-15/01/2020 USD PNC BANK NA 2.150% 16-29/04/2021 USD PNC FINANCIAL 3.900% 14-29/04/2024 USD PRAXAIR INC 1.200% 16-12/02/2024 EUR PRINCIPAL FINANCIAL 3.100% 16-15/11/2026 USD PRINCIPAL FINANCIAL 3.400% 15-15/05/2025 USD PROLOGIS LP 3.350% 13-01/02/2021 USD PROLOGIS LP 3.750% 15-01/11/2025 USD PRUDENTIAL FINANCIAL 3.500% /05/2024 USD REGIONS BK ALAB 7.500% 08-15/05/2018 USD REGIONS FINL 3.200% 16-08/02/2021 USD REPUBLIC SVCS 2.900% 16-01/07/2026 USD ROCHE HOLDINGS INC 2.625% /05/2026 USD SCHLUMBERGER HLD 3.000% 15-21/12/2020 USD SCRIPPS NETWORKS 2.750% 14-15/11/2019 USD SEMPRA ENERGY 2.875% 12-01/10/2022 USD SPECTRA PARTNERS 4.750% 13-15/03/2024 USD SYNCHRONY FINANCIAL 4.250% /08/2024 USD SYSCO CORP 3.300% 16-15/07/2026 USD SYSCO CORP 6.500% 98-01/08/2028 USD TESORO CORP 5.125% 16-15/12/2026 USD THERMO FISHER 0.750% 16-12/09/2024 EUR TIME WARNER CABLE 4.000% 11-01/09/2021 USD TIME WARNER CABLE 5.000% 09-01/02/2020 USD TIME WARNER INC 3.800% 16-15/02/2027 USD TIME WARNER INC 4.750% 11-29/03/2021 USD UNION PACIFIC CORP 4.050% 15-15/11/2045 USD US BANCORP 2.350% 16-29/01/2021 USD US BANCORP 2.950% 12-15/07/2022 USD US BANCORP 3.100% 16-27/04/2026 USD VALERO ENERGY 3.400% 16-15/09/2026 USD VENTAS REALTY LP 4.750% 11-01/06/2021 USD VERIZON COMMUNICATIONS INC 0.500% /06/2022 EUR VERIZON COMMUNICATIONS INC 4.522% /09/2048 USD VERIZON COMMUNICATIONS INC 4.600% /04/2021 USD VERIZON COMMUNICATIONS INC 5.150% /09/2023 USD VERIZON COMMUNICATIONS INC 6.550% /09/2043 USD WALGREENS BOOTS 3.450% 16-01/06/2026 USD WALT DISNEY CO 2.300% 16-12/02/2021 USD WALT DISNEY CO 4.125% 14-01/06/2044 USD WASTE MANAGEMENT 3.500% 14-15/05/2024 USD WASTE MANAGEMENT 3.900% 15-01/03/2035 USD WASTE MANAGEMENT 4.100% 15-01/03/2045 USD WELLTOWER 4.000% 15-01/06/2025 USD WEYERHAEUSER CO 4.625% 13-15/09/2023 USD WHIRLPOOL CORP 4.000% 14-01/03/2024 USD WHIRLPOOL CORP 4.500% 16-01/06/2046 USD WHIRLPOOL CORP 4.850% 11-15/06/2021 USD XYLEM INC 3.250% 16-01/11/2026 USD ZIMMER HOLDINGS 3.550% 15-01/04/2025 USD France AIR LIQUIDE FIN 0.125% 16-13/06/2020 EUR AIR LIQUIDE FIN 0.375% 16-18/04/2022 EUR AUTOROUTES DU SUD 1.000% /05/2026 EUR AUTOROUTES DU SUD 2.950% /01/2024 EUR AUTOROUTES DU SUD 4.125% /04/2020 EUR BANQUE FED CREDIT MUTUEL 1.875% /11/2026 EUR BANQUE FED CREDIT MUTUEL 2.375% /03/2026 EUR BANQUE FED CREDIT MUTUEL 2.625% /02/2021 EUR BANQUE FED CREDIT MUTUEL 2.750% /10/2020 USD BNP PARIBAS 0.500% 16-01/06/2022 EUR BNP PARIBAS 2.250% 14-13/01/2021 EUR BNP PARIBAS 2.250% 16-11/01/2027 EUR BNP PARIBAS 2.750% 15-27/01/2026 EUR BNP PARIBAS 2.875% 16-01/10/2026 EUR BNP PARIBAS 7.781% 08-29/06/2049 EUR BPCE 0.375% 16-05/10/2023 EUR BPCE 0.625% 16-20/04/2020 EUR BPCE 2.250% 15-27/01/2020 USD BUREAU VERITAS 1.250% 16-07/09/2023 EUR CAP GEMINI SA 0.500% 16-09/11/2021 EUR CAP GEMINI SA 1.750% 15-01/07/2020 EUR CARREFOUR SA 0.750% 16-26/04/2024 EUR CARREFOUR SA 1.750% 14-15/07/2022 EUR CFCM NORD EUROPE 2.125% 16-12/09/2026 EUR CIE DE ST GOBAIN 0.000% 16-27/03/2020 EUR CNP ASSURANCES 1.875% 16-20/10/2022 EUR COFIROUTE 0.375% 16-07/02/2025 EUR CREDIT AGRICOLE SA 0.875% 15-19/01/2022 EUR CROWN EUROPEAN 2.625% 16-30/09/2024 EUR DANONE 0.424% 16-03/11/2022 EUR DANONE 1.250% 15-30/05/2024 EUR ELEC DE FRANCE 1.000% 16-13/10/2026 EUR FONCIERE DES REGIONS 1.875% /05/2026 EUR GECINA 1.000% 16-30/01/2029 EUR HOLDING DINFRA 2.250% 14-24/03/2025 EUR ICADE 1.125% 16-17/11/2025 EUR IMERYS SA 0.875% 16-31/03/2022 EUR JCDECAUX SA 1.000% 16-01/06/2023 EUR KERING 0.875% 15-28/03/2022 EUR KERING 1.250% 16-10/05/2026 EUR KLEPIERRE 1.000% 15-17/04/2023 EUR KLEPIERRE 1.250% 16-29/09/2031 EUR KLEPIERRE 1.875% 16-19/02/2026 EUR ORANGE 0.875% 16-03/02/2027 EUR ORANGE 1.000% 16-12/05/2025 EUR ORANGE 3.125% 13-09/01/2024 EUR ORANGE 3.875% 10-09/04/2020 EUR PEUGEOT 2.375% 16-14/04/2023 EUR PEUGEOT 6.500% 13-18/01/2019 EUR PUBLICIS GROUPE 1.125% 14-16/12/2021 EUR RCI BANQUE 0.375% 16-10/07/2019 EUR RCI BANQUE 0.500% 16-15/09/2023 EUR RCI BANQUE 0.625% 16-10/11/2021 EUR RENAULT 3.125% 14-05/03/2021 EUR RENAULT 3.625% 13-19/09/2018 EUR RENAULT 4.625% 12-18/09/2017 EUR RTE RESEAU DE TR 1.000% 16-19/10/2026 EUR Page 215

218 Sustainable Bond World Corporate Expressed in USD SAN 0.950% 16-19/10/2028 EUR SANEF 1.875% 15-16/03/2026 EUR SANOFI 0.000% 16-13/09/2022 EUR SANOFI 0.625% 16-05/04/2024 EUR SCHNEIDER ELEC 0.250% 16-09/09/2024 EUR SOCIETE GENERALE 0.125% 16-05/10/2021 EUR SOCIETE GENERALE 0.750% 16-19/02/2021 EUR SOCIETE GENERALE 0.750% 16-26/05/2023 EUR SOCIETE GENERALE 1.000% 16-01/04/2022 EUR ST GOBAIN 4.500% 11-30/09/2019 EUR TOTAL CAPITAL 0.250% 16-12/07/2023 EUR UNIBAIL-RODAMCO 0.875% 16-21/02/2025 EUR UNIBAIL-RODAMCO 1.125% 16-28/04/2027 EUR VALEO SA 1.625% 16-18/03/2026 EUR VALEO SA 3.250% 14-22/01/2024 EUR VIVENDI SA 0.750% 16-26/05/2021 EUR The Netherlands ABB FINANCE BV 0.625% 16-03/05/2023 EUR ABN AMRO BANK NV 0.625% 16-31/05/2022 EUR ABN AMRO BANK NV 2.875% 16-18/01/2028 EUR ABN AMRO BANK NV 4.125% 12-28/03/2022 EUR ABN AMRO BANK NV 6.375% 11-27/04/2021 EUR AEGON NV 1.000% 16-08/12/2023 EUR AKZO NOBEL NV 1.125% 16-08/04/2026 EUR ALLIANZ FINANCE 0.000% 16-21/04/2020 EUR ALLIANZ FINANCE 1.375% 16-21/04/2031 EUR ASML HOLDING NV 0.625% 16-07/07/2022 EUR BASF FIN EUROPNV 0.000% 16-10/11/2020 EUR BMW FINANCE NV 0.750% 16-15/04/2024 EUR BMW FINANCE NV 0.875% 15-17/11/2020 EUR BUNGE FINANCE EU 1.850% 16-16/06/2023 EUR COCA-COLA HBC BV 1.875% 16-11/11/2024 EUR DEUTSCHE BAHN FIN 0.875% 16-11/07/2031 EUR DEUTSCHE TEL FIN 0.625% 16-03/04/2023 EUR DSM NV 0.750% 16-28/09/2026 EUR EDP FINANCE BV 1.125% 16-12/02/2024 EUR EDP FINANCE BV 2.000% 15-22/04/2025 EUR EDP FINANCE BV 2.375% 16-23/03/2023 EUR EDP FINANCE BV 2.625% 14-18/01/2022 EUR EDP FINANCE BV 4.875% 13-14/09/2020 EUR ENEL FINANCE INTL NV 1.375% /06/2026 EUR ENEL FINANCE INTL NV 1.966% /01/2025 EUR GAS NAT FENOSA F 1.250% 16-19/04/2026 EUR GAS NAT FENOSA F 2.875% 14-11/03/2024 EUR GAS NAT FENOSA F 3.875% 13-11/04/2022 EUR IBERDROLA INTL 0.375% 16-15/09/2025 EUR IBERDROLA INTL 1.125% 16-21/04/2026 EUR IBERDROLA INTL 3.000% 13-31/01/2022 EUR ING BANK NV 0.750% 16-22/02/2021 EUR LINDE FINANCE BV 1.000% 16-20/04/2028 EUR MONDELEZ INTERNATIONAL INC 2.000% /10/2021 USD NEDERLANDSE GASU 1.000% 16-11/05/2026 EUR NN GROUP NV 1.000% 15-18/03/2022 EUR RABOBANK 4.000% 12-11/01/2022 EUR RABOBANK 4.125% 11-12/01/2021 EUR REDEXIS GAS FIN 2.750% 14-08/04/2021 EUR REPSOL INTL FIN 2.625% 13-28/05/2020 EUR REPSOL INTL FIN 4.875% 12-19/02/2019 EUR ROCHE FINANCE EU 0.500% 16-27/02/2023 EUR SHELL INTL FIN 0.750% 16-12/05/2024 EUR SHELL INTL FIN 2.250% 15-10/11/2020 USD SHELL INTL FIN 2.875% 16-10/05/2026 USD SHELL INTL FIN 4.125% 15-11/05/2035 USD TEVA PHARMACEUT 2.800% 16-21/07/2023 USD ZIGGO SECURED FI 4.250% 16-15/01/2027 EUR United Kingdom ASTRAZENECA PLC 0.250% 16-12/05/2021 EUR AVIVA PLC 0.100% 16-13/12/2018 EUR AVIVA PLC 0.625% 16-27/10/2023 EUR BRITISH SKY BROADCASTING 1.500% /09/2021 EUR BRITISH TEL PLC 0.625% 16-10/03/2021 EUR COCA-COLA EURO 0.750% 16-24/02/2022 EUR CREDIT AGRICOLE 0.750% 16-01/12/2022 EUR CREDIT AGRICOLE 1.250% 16-14/04/2026 EUR CREDIT AGRICOLE 1.875% 16-20/12/2026 EUR DELPHI AUTOMTVE 1.600% 16-15/09/2028 EUR DS SMITH PLC 2.250% 15-16/09/2022 EUR FCE BANK PLC 1.134% 15-10/02/2022 EUR FCE BANK PLC 1.528% 15-09/11/2020 EUR FCE BANK PLC 1.615% 16-11/05/2023 EUR FCE BANK PLC 1.660% 16-11/02/2021 EUR INVESCO FIN PLC 3.750% 15-15/01/2026 USD ITV PLC 2.000% 16-01/12/2023 EUR LLOYDS BANKING 4.650% 16-24/03/2026 USD NATIONAL GRID 0.625% 16-22/09/2024 EUR NATIONWIDE BLDG 0.500% 16-29/10/2019 EUR RIO TINTO FINANC 4.125% 12-21/08/2042 USD SANTANDER UK GRP 1.125% 16-08/09/2023 EUR SANTANDER UK GRP 2.875% 15-16/10/2020 USD VODAFONE GROUP 1.250% 16-25/08/2021 EUR WPP FINANCE % 13-15/11/2043 USD WPP FINANCE % 15-18/11/2019 EUR YORKSHRE BLD SOC 1.250% 15-17/03/2022 EUR Spain ABERTIS 1.375% 16-20/05/2026 EUR AMADEUS CAP MKT 0.125% 16-06/10/2020 EUR AMADEUS CAP MKT 1.625% 15-17/11/2021 EUR BANCO BILBAO VIZCAYA 1.000% /01/2021 EUR BANCO BILBAO VIZCAYA 3.000% /10/2020 USD CELLNEX TELECOM 2.375% 16-16/01/2024 EUR ENAGAS FIN SA 1.375% 16-05/05/2028 EUR FERROVIAL EMISIO 0.375% 16-14/09/2022 EUR FERROVIAL EMISIO 3.375% 13-30/01/2018 EUR IBERDROLA FIN SA 1.000% 16-07/03/2024 EUR MAPFRE 1.625% 16-19/05/2026 EUR RED ELECTRICA FI 1.000% 16-21/04/2026 EUR SANTANDER CONS FIN 1.000% /05/2021 EUR SANTANDER INTL 1.375% 16-03/03/2021 EUR SANTANDER ISSUAN 3.250% 16-04/04/2026 EUR TELEFONICA EMIS 0.750% 16-13/04/2022 EUR TELEFONICA EMIS 1.460% 16-13/04/2026 EUR TELEFONICA EMIS 3.961% 13-26/03/2021 EUR Germany BASF SE 0.875% 16-06/10/2031 EUR CONTINENTAL AG 0.000% 16-05/02/2020 EUR DAIMLER AG 0.250% 16-11/05/2020 EUR DAIMLER AG 0.500% 16-09/09/2019 EUR DAIMLER AG 0.625% 15-05/03/2020 EUR DAIMLER AG 0.875% 16-12/01/2021 EUR Page 216

219 Sustainable Bond World Corporate Expressed in USD DEUTSCHE POST AG 0.375% 16-01/04/2021 EUR EUROGRID GMBH 1.500% 16-18/04/2028 EUR EUROGRID GMBH 1.625% 15-03/11/2023 EUR HEIDELBERGCEMENT 1.500% 16-07/02/2025 EUR HENKEL AG & CO 0.000% 16-13/09/2021 EUR TELFONICA DEUTSC 2.375% 14-10/02/2021 EUR Canada BROOKFIELD FIN 4.250% 16-02/06/2026 USD ENBRIDGE INC 4.000% 13-01/10/2023 USD ENBRIDGE INC 4.250% 16-01/12/2026 USD FORTIS INC 3.055% 16-04/10/2026 USD ROGERS COMMUNICATIONS INC 3.625% /12/2025 USD ROGERS COMMUNICATIONS INC 5.450% /10/2043 USD Italy INTESA SANPAOLO 1.125% 15-14/01/2020 EUR INTESA SANPAOLO 3.500% 14-17/01/2022 EUR SNAM 0.000% 16-25/10/2020 EUR SNAM 0.875% 16-25/10/2026 EUR TELECOM ITALIA 3.000% 16-30/09/2025 EUR TELECOM ITALIA 4.875% 13-25/09/2020 EUR TERNA SPA 0.875% 15-02/02/2022 EUR TERNA SPA 1.000% 16-11/10/2028 EUR TERNA SPA 4.750% 11-15/03/2021 EUR UNICREDIT SPA 3.250% 14-14/01/2021 EUR Sweden ATLAS COPCO 0.625% 16-30/08/2026 EUR NORDEA BANK AB 1.000% 16-22/02/2023 EUR SKANDINAVISKA ENSKILDA BANK 0.750% /08/2021 EUR SVENSKA HANDELSBANKEN 1.125% /12/2022 EUR Luxembourg ACTAVIS FUNDING 4.550% 15-15/03/2035 USD ACTAVIS FUNDING 4.750% 15-15/03/2045 USD CNH IND FIN 2.875% 16-17/05/2023 EUR INGERSOLL-RAND 3.550% 14-01/11/2024 USD NOVARTIS FINANCE 0.125% 16-20/09/2023 EUR PROLOGIS INTL II 2.750% 13-23/10/2018 EUR SIMON INTL FIN S 1.375% 15-18/11/2022 EUR Ireland CRH FINANCE 1.375% 16-18/10/2028 EUR DAA FINANCE PLC 1.554% 16-07/06/2028 EUR EATON CAPITAL 0.750% 16-20/09/2024 EUR Denmark DANSKE BANK A/S 0.750% 16-02/06/2023 EUR ISS GLOBAL A/S 1.125% 14-09/01/2020 EUR Austria TELEKOM FINANZ 1.500% 16-07/12/2026 EUR TELEKOM FINANZ 3.125% 13-03/12/2021 EUR Japan MITSUB UFJ FIN G 3.850% 16-01/03/2026 USD Norway DNB NOR BANK ASA 4.375% 11-24/02/2021 EUR SPAREBANK 1 SR 0.375% 16-10/02/2022 EUR Portugal BRISA CONCESSAO 2.000% 16-22/03/2023 EUR BRISA CONCESSAO 3.875% 14-01/04/2021 EUR GALP GAS NATURAL 1.375% 16-19/09/2023 EUR Belgium KBC GROEP NV 1.000% 16-26/04/2021 EUR SOLVAY SA 1.625% 15-02/12/2022 EUR SOLVAY SA 2.750% 15-02/12/2027 EUR Australia TELSTRA CORPORATION LTD 1.125% /04/2026 EUR Floating rate bonds France AXA SA 10-16/04/2040 FRN EUR BNP PARIBAS 07-29/04/2049 FRN EUR BNP PARIBAS 14-31/12/2049 FRN EUR BPCE 14-08/07/2026 FRN EUR BPCE 15-30/11/2027 FRN EUR CNP ASSURANCES 10-14/09/2040 FRN EUR CNP ASSURANCES 11-30/09/2041 FRN EUR CREDIT AGRICOLE 09-29/10/2049 FRN EUR CREDIT AGRICOLE ASSR 15-29/01/2049 FRN EUR CREDIT AGRICOLE ASSR 16-27/09/2048 FRN EUR CREDIT AGRICOLE SA 08-29/03/2049 FRN EUR ENGIE 14-02/06/2049 FRN EUR ORANGE 14-28/02/2049 FRN EUR SOGECAP SA 14-29/12/2049 FRN EUR SUEZ ENVIRONNEMENT 14-23/06/2049 FRN EUR TOTAL SA 15-29/12/2049 FRN EUR TOTAL SA 16-29/12/2049 FRN EUR TOTAL SA 16-29/12/2049 FRN EUR The Netherlands ALLIANZ FINANCE 11-08/07/2041 FRN EUR GAS NAT FENOSA F 14-29/11/2049 FRN EUR GENERALI FINANCE 14-30/11/2049 FRN EUR ING BANK NV 16-11/04/2028 FRN EUR ING VERZEKERING 14-08/04/2044 FRN EUR TELEFONICA EUROP 16-31/12/2049 FRN EUR Sweden NORDEA BANK AB 16-07/09/2026 FRN EUR SKANDINAVISKA ENSKILDA BANK /05/2026 FRN EUR SKANDINAVISKA ENSKILDA BANK /10/2028 FRN EUR Germany ALLIANZ SE 15-07/07/2045 FRN EUR ENERGIE BADEN-WU 16-05/04/2077 FRN EUR MERCK 14-12/12/2074 FRN EUR Belgium KBC GROEP NV 14-25/11/2024 FRN EUR KBC GROEP NV 15-11/03/2027 FRN EUR Spain BANCO BILBAO VIZCAYA 16-29/12/2049 FRN EUR BBVA SUB CAP UNI 14-11/04/2024 FRN EUR Italy ENEL SPA 14-15/01/2075 FRN EUR United States of America METLIFE INC 06-15/12/2036 FRN USD Ireland ALLIED IRISH BANKS 15-26/11/2025 FRN EUR Page 217

220 Sustainable Bond World Corporate Expressed in USD Shares/Units in investment funds Luxembourg BNP PARIBAS INSTICASH USD - I - CAP USD Total securities portfolio Page 218

221 Sustainable Equity Europe Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares France AIR LIQUIDE SA EUR ARKEMA EUR AXA SA EUR BNP PARIBAS EUR CAP GEMINI EUR CARREFOUR SA EUR COMPAGNIE DE SAINT GOBAIN EUR DANONE EUR KERING EUR ORANGE EUR RENAULT SA EUR SCHNEIDER ELECTRIC SE EUR SUEZ EUR TOTAL SA EUR VALEO SA EUR VINCI SA EUR United Kingdom ASTRAZENECA PLC GBP AVIVA PLC GBP BT GROUP PLC GBP KINGFISHER PLC GBP PRUDENTIAL PLC GBP RELX PLC GBP UNILEVER PLC GBP VODAFONE GROUP PLC GBP Germany ADIDAS AG EUR BASF SE EUR DAIMLER AG-REGISTERED SHARES EUR DEUTSCHE TELEKOM AG - REG EUR HEIDELBERGCEMENT AG EUR HENKEL AG & CO KGAA VORZUG EUR SAP SE EUR SIEMENS AG - REG EUR The Netherlands ASML HOLDING NV EUR ING GROEP NV EUR KONINKLIJKE AHOLD DELHAIZE NV EUR KONINKLIJKE PHILIPS NV EUR ROYAL DUTCH SHELL PLC - B GBP Switzerland GIVAUDAN - REG CHF NESTLE SA - REG CHF NOVARTIS AG - REG CHF ROCHE HOLDING AG GENUSSCHEIN CHF Spain BANCO BILBAO VIZCAYA ARGENTA EUR BANCO SANTANDER SA EUR INDUSTRIA DE DISENO TEXTIL EUR REPSOL SA EUR Denmark DANSKE BANK A/S DKK NOVO NORDISK A/S - B DKK PANDORA A/S DKK Italy ASSICURAZIONI GENERALI EUR ENEL SPA EUR INTESA SANPAOLO EUR Ireland SHIRE PLC GBP Belgium KBC GROEP NV EUR Sweden SKF AB-B SHARES SEK Total securities portfolio Page 219

222 Sustainable Equity High Dividend Europe Expressed in EUR Transferable securities admitted to an official stock exchange listing and/or traded on another regulated market Shares France AXA SA EUR BNP PARIBAS EUR LAGARDERE SCA EUR ORANGE EUR SANOFI AVENTIS EUR SCHNEIDER ELECTRIC SE EUR SUEZ EUR TOTAL SA EUR UNIBAIL RODAMCO SE EUR United Kingdom ASTRAZENECA PLC GBP AVIVA PLC GBP HSBC HOLDINGS PLC GBP LEGAL & GENERAL GROUP PLC GBP MARKS & SPENCER GROUP PLC GBP NATIONAL GRID PLC GBP STANDARD CHARTERED PLC GBP VODAFONE GROUP PLC GBP Germany ALLIANZ SE - REG EUR BASF SE EUR BAYERISCHE MOTOREN WERKE AG EUR DAIMLER AG-REGISTERED SHARES EUR DEUTSCHE TELEKOM AG - REG EUR METRO AG EUR SIEMENS AG - REG EUR Switzerland ADECCO GROUP AG - REG CHF NOVARTIS AG - REG CHF ROCHE HOLDING AG GENUSSCHEIN CHF SWISS RE AG CHF SYNGENTA AG - REG CHF ZURICH INSURANCE GROUP AG CHF The Netherlands ING GROEP NV EUR KONINKLIJKE PHILIPS NV EUR ROYAL DUTCH SHELL PLC - A EUR Sweden NORDEA BANK AB SEK SKF AB-B SHARES SEK SWEDBANK AB - A SEK Italy ENEL SPA EUR INTESA SANPAOLO EUR Denmark DANSKE BANK A/S DKK Belgium KBC GROEP NV EUR Total securities portfolio Page 220

223 Notes to the financial statements Page 221

224 Notes to the financial statements at 31/12/2016 Note 1 - General information Since 1 January 2016, the Company has proceeded to the following changes: a) Merged, renamed or launched sub-funds Sub-fund Date Events Step 80 World Emerging 8 January 2016 Absorbed by the sub-fund Step 90 Euro Opportunities World 29 January 2016 Absorbed by the sub-fund Equity Best Selection World Cross Asset Absolute Return 1 April 2016 Absorbing the sub-fund Multi-Strategy High Vol of PARWORLD Multi-Strategy Medium Vol 1 April 2016 Absorbed by the sub-fund Cross Asset Absolute Return Multi-Strategy Medium Vol (USD) 1 April 2016 Absorbed by the sub-fund Cross Asset Absolute Return Equity Pacific ex-japan 25 April 2016 Renamed Equity Asia Pacific ex-japan Euro Covered Bond 25 April 2016 Renamed Covered Bond Euro Equity High Dividend Europe 25 April 2016 Renamed Sustainable Equity High Dividend Europe Multi-Asset Income Emerging 25 April 2016 Launch of the sub-fund Bond USA High Yield 1 July 2016 Absorbing the sub-fund Bond USA High Yield of BNP Paribas L1 Bond USD 1 July 2016 Absorbing the sub-fund Bond USD of BNP Paribas L1 Real Estate Securities World 1 July 2016 Absorbing the sub-fund Real Estate Securities World of BNP Paribas L1 Step 90 Euro 1 July 2016 Absorbing the sub-fund Diversified Active Click Balanced of BNP Paribas L1 Step 90 Euro 1 July 2016 Absorbing the sub-fund Diversified Active Click Stability of BNP Paribas L1 Equity New Frontiers 29 July 2016 Launch of the sub-fund Commodities 26 August 2016 Absorbing the French Common Fund BNP PARIBAS MATIERES PREMIERES Diversified Dynamic 9 September 2016 Absorbing the French Common Fund BNP PARIBAS MULTI-ASSET ISOVOL 6% Equity Bric 7 October 2016 Absorbed by the sub-fund Equity World Emerging Bond World Corporate 2 November 2016 Renamed Sustainable Bond World Corporate Environmental Opportunities 2 November 2016 Renamed Climate Impact Multi-Strategy Low Vol 10 November 2016 Absorbed by the French Common Fund THEAM MULTI-STRATEGY LOW VOL Equity Asia ex-japan 25 November 2016 Launch of the sub-fund by absorption of the sub-fund Equity Asia ex-japan of the Belgian SICAV BNP Paribas B Fund I Equity Europe Emerging 25 November 2016 Absorbing the sub-fund Equity Europe Emerging of the Belgian SICAV BNP Paribas B Fund I Equity Japan 25 November 2016 Absorbing the sub-fund Equity Japan of the Belgian SICAV BNP Paribas B Fund I Equity USA Growth 25 November 2016 Absorbing the sub-fund Equity USA of the Belgian SICAV BNP Paribas B Fund I Bond RMB 28 November 2016 Launch of the sub-fund by Absorption of the sub-fund Bond RMB of FLEXIFUND b) Merged, liquidated, split or activated share classes Sub-fund Date Events Money Market Euro 8 January 2016 Merger of the share class N - Capitalisation in Classic - Capitalisation Merger of the share class Privilege - Distribution in Privilege - Capitalisation Money Market USD 8 January 2016 Merger of the share class N - Capitalisation in Classic - Capitalisation Bond Absolute Return V January 2016 Activation of share classes Classic RH SEK - Capitalisation and I RH SEK - Capitalisation Bond Absolute Return V January 2016 Activation of share classes Classic RH SEK - Capitalisation and I RH SEK - Equity Best Selection World 29 January 2016 Equity World Emerging Small Cap Cross Asset Absolute Return 1 April 2016 Capitalisation Activation of share classes Classic EUR - Capitalisation and Classic EUR - Distribution Merger of the share class Classic - Capitalisation valued in EUR in Classic EUR - Capitalisation 17 March 2016 Activation of share class Classic - Distribution Activation of share classes Classic RH USD - Capitalisation and I RH USD - Capitalisation Page 222

225 Notes to the financial statements at 31/12/2016 Sub-fund Date Events Multi-Strategy Low Vol 1 April 2016 Share class Classic - Capitalisation of the sub-fund was merged in the share class Classic - Capitalisation of the sub-fund Cross Asset Absolute Return Convertible Bond Europe 25 April 2016 Activation of share class IH EUR - Capitalisation Enhanced Cash 6 Months 25 April 2016 Activation of share class Life - Capitalisation Equity Best Selection World 25 April 2016 Activation of share classes Classic RH NOK - Capitalisation and Life EUR - Capitalisation Equity Best Selection Asia Ex- Activation of share classes Classic RH AUD - Capitalisation, Classic RH SGD - 19 May 2016 Japan Capitalisation and Classic RH USD - Capitalisation Equity Best Selection Asia Ex- Japan 16 June 2016 Activation of share class I USD - Capitalisation Bond USA High Yield 1 July 2016 Activation of share class Classic - Distribution Convertible Bond Europe Small Cap 4 July 2016 Activation of share class I - Distribution Enhanced Cash 6 Months 11 July 2016 Activation of share class I - Distribution Enhanced Cash 6 Months 19 August 2016 The share class Privilege - Capitalisation was split by 10 Human Development 20 October 2016 Activation of share class Classic - Distribution Bond Euro High Yield 2 November 2016 The share class N - Capitalisation was renamed N - Distribution Bond World High Yield 2 November 2016 The share class N - Capitalisation was renamed N - Distribution Convertible Bond Europe 2 November 2016 The share class IH EUR - Capitalisation was renamed IH EUR - Distribution The share class N - Capitalisation was renamed N - Distribution Convertible Bond Europe Small Cap 2 November 2016 The share class N - Capitalisation was renamed N - Distribution Equity High Dividend Pacific 2 November 2016 The share class N - Capitalisation was renamed N - Distribution Equity Europe Emerging 24 November 2016 The share class Classic - Distribution was split by 3 Equity USA Growth 24 November 2016 The share class Classic - Capitalisation was split by 4, the share class Classic - Distribution was split by 3 Bond Euro High Yield 15 December 2016 Activation of share class Classic H USD MD - Distribution Equity Nordic Small Cap 15 December 2016 Activation of share class Classic H NOK - Distribution c) Eligibility for the Plan Epargne en Actions (PEA) Owing to their eligibility for French share savings schemes (PEA), the sub-funds of the PARVEST SICAV listed below permanently invest at least 75% of their net in shares and rights that are eligible for the PEA and are issued by companies established in France, another Member State of the European Union or in Iceland or Norway and which are subject to corporation tax or an equivalent regime. Equity Best Selection Euro Equity Europe Mid Cap Equity Germany Equity Best Selection Europe Equity Europe Small Cap Flexible Equity Europe Equity Europe Growth Equity Europe Value Sustainable Equity Europe Sustainable Equity High Dividend Europe Note 2 - Principal accounting methods a) Net asset value This report is prepared on the basis of the last unofficial technical net asset value calculated for financial statements purpose as at 31 December b) Globalized statements for the various sub-funds PARVEST s (consolidated) financial statements are expressed in EUR by converting the financial statements of the sub-funds denominated in currencies other than EUR at the exchange rate prevailing at the end of the financial year. Page 223

226 Notes to the financial statements at 31/12/2016 c) Currency conversion The accounts of each sub-fund are kept in the in which its net asset value is expressed, and the financial statements are expressed in that. The purchase price of securities purchased in a other than that of the sub-fund is converted into the of the sub-fund on the basis of the exchange rates prevailing on the date of purchase of the securities. The income and expenses denominated in a other than that of the sub-fund are converted into the of the sub-fund on the basis of the exchange rates prevailing on the transaction date. On the closing date, the market values of the securities (determined by the method described below), the claims, bank deposits and debt denominated in a other than that of the sub-fund are converted into the of the sub-fund on the basis of the exchange rates prevailing on that date, with any exchange differentials resulting from the conversion of the securities, claims, bank deposits and debt being included in the net result for the financial year. d) Presentation of the financial statements The financial statements are presented on the basis of the latest net asset value calculated during the financial year. In accordance with the prospectus, the net asset values were calculated using the latest exchange rates known at the time of calculation. The stock market prices and exchange rates are those of 31 December This principle has been applied uniformly and consistently for all the sub-funds. By way of information, a certain lead time is required before indicative prices become available for certain illiquid securities, so that for these securities it was impossible for material reasons to use prices as at 31 December 2016 in the last net asset value of the financial year. However, these net asset values would not have been significantly different from those shown in the annual accounts. The statement of operations and changes in net covers the financial year from 1 January 2016 to 31 December e) Valuation of the securities portfolio The valuation of all securities listed on a stock exchange or any other regulated market, which functions regularly, is recognized and accessible to the public, is based on the last known closing price on the Valuation Day, and, if the securities concerned are traded on several markets, on the basis of the last known closing price on the major market on which they are traded. If the last known closing price is not a true reflection, the valuation shall be based on the probable sale price estimated by the Board of Directors in a prudent and bona fide manner. The Board of Directors uses this possibility for the valuation of the securities listed on East Asia, South Asia, Southeast Asia and Oceania markets. In these cases, the aforesaid last known closing price is adjusted by using a method monitored by the Management Company to reflect a fair value price of the concerned. Unlisted securities or securities not traded on a stock exchange or another regulated market which functions in a regular manner, is recognised and accessible to the public, shall be valued on the basis of the probable sale price estimated in a prudent and bona fide manner by a qualified professional appointed for this purpose by the Board of Directors. If permitted by market practice, liquid, money market instruments and all other instruments may be valued at their nominal value plus accrued interest or according to the linear amortisation method. Any decision to value the in the portfolio using the linear amortisation method must be approved by the Board of Directors, which will record the reasons for such a decision. The Board of Directors will put in place appropriate checks and controls concerning the valuation of the instruments. The value of shares or units in undertakings for collective investment shall be determined on the basis of the last net asset value available on the valuation Day. If this price is not a true reflection, the valuation shall be based on the probable sale price estimated by the Board of Directors in a prudent and bona fide manner. f) Valuation of forward foreign exchange contracts Forward foreign exchange contracts remaining open at the closing date are valued by reference to the forward foreign exchange rate corresponding to the remaining life of the contract. Any unrealised gains and losses are included when determining the result of the transactions. To calculate the net positions per, the positions are converted at the forward exchange rates corresponding to the remaining life of the contract. Page 224

227 Notes to the financial statements at 31/12/2016 g) Valuation of financial instruments Financial futures are valued at their last-known market price. The other financial instruments are valued at the prices at which the position would be able to be liquidated, depending on the conditions prevailing on the market at the valuation date. Realised and unrealised profits or losses resulting there from are included in the Statement of operations and changes in net. To calculate the net positions per on financial instruments, the positions are converted at the exchange rate effective on the closing date. h) Valuation of credit default swaps The value of a Credit Default Swap shall be determined by comparing the value of the protection swap leg and the value of the premium swap leg. The value of the premium leg is obtained by discounting the future premium flows using the relevant risk-adjusted discount. The value of the protection leg is the present value of the expected loss inherent to the contract. Default probabilities used to compute the expected loss are derived from the structure of par market swap rates. Par market swap rates will be obtained from a cross-section of market counterparties. i) Valuation of total return swaps and performance swaps A Total Return Swap (TRS) is a bilateral agreement in which each party agrees to exchange payments based on the performance of an underlying instrument represented by a security, commodity, basket or index thereof for a fixed or variable rate. One party pays out the total return of a specific reference asset, and in return, receives a regular stream of payments. The total performance will include gains and losses on the underlying, as well as any interest or dividends during the contract period according to the type of underlying. The cash flows to be exchanged are calculated by reference to an agreed upon notional amount or quantity. Total return swaps are marked to market at each NAV calculation date. The unrealised appreciation/depreciation is disclosed in the Statement of net under Net Unrealised gain/loss on financial instruments. Realised gains/(losses) and change in unrealised appreciation/depreciation as a result thereof are included in the Statement of operations and changes in net respectively under Net realised result on Financial instruments and Movement on net unrealised gain/loss on Financial instruments. j) Presentation of options Options contracts traded over-the-counter are valued at the prices at which the position could be liquidated under the market conditions prevailing at the valuation date. The liquidation value of forward contracts or options contracts traded on regulated markets will be based on the latest available settlement price of these contracts on the regulated markets on which these forward contracts or option contracts are traded by the SICAV; provided that if a forward contract or an options contract cannot be liquidated on the day on which the net are valued, the basis that will be used to determine the liquidation value of this contract will be determined fairly and reasonably by the Board of Directors. k) Valuation of securities lending, reverse repurchase and repurchase agreements Securities lending attracts remuneration for the sub-fund according to the contracts and is accounted for in the Statement of operations and changes in net under Income on investments and. Securities that have been lent are shown in the net of the sub-fund in question, at their market value. Securities reverse repurchase (or repurchase) transactions are treated as borrowing (or lending) transactions guaranteed by the underlying securities. They are transactions by which the transferor transfers ownership of securities to another person (the transferee) and by which the transferor irrevocably undertakes to repurchase them and the transferee irrevocably undertakes to retrocede them, at an agreed price and date. Securities reverse repurchase agreements are valued at their purchase price expressed in the original, irrespective of the market value of the underlying securities, the interest accrued pro rata since the purchase date being shown under the heading Other. Securities repurchase agreements are valued at their market value. Page 225

228 Notes to the financial statements at 31/12/2016 l) Valuation of interest rate swaps Interest rate swaps are valued on the basis of the difference between the value of all future interest payable by the Company to its counterparty on the valuation date at the zero coupon swap rate corresponding to the maturity of these payments and the value of all future interest payable by the counterparty to the Company on the valuation date at the zero coupon swap rate corresponding to the maturity of these payments. m) Valuation of volatility swaps A volatility swap is a forward contract whose underlying is the volatility of a given product. The underlying is usually a foreign exchange rate, equity or index. At a given point in time, the valuation of the volatility swap will reflect the difference between the last known volatility of the underlying and the valuation on the basis of which the initial agreement was concluded. n) Comparisons Concerning the sub-funds that merged during the financial year and that were still open on 31 December 2016, mergers involving absorption of the net of the absorbed sub-funds or funds were recorded in the accounts by means of a subscription in the absorbing sub-funds at the merger dates. Consequently, the line Net subscriptions/(redemptions) in the Statement of operations and changes in net includes the net of the absorbed sub-funds or funds at the merger dates. o) Geographic distribution The geographic distribution of the securities portfolio is based on the issuing country. p) Indian Tax Each sub-fund may be subject to corporation taxes in certain countries in which it invests. Capital gains realised when disposing of certain Indian securities held by a sub-fund are subject to capital gains tax in India, which, if any, is disclosed in the Statement of operations and changes in net under the heading Taxes. The tax is computed on net realised gains, and realised losses in excess of gains may under certain conditions be carried forward 8 years to offset future gains. Indian tax law imposes a tax of 15% on net realised gains from Indian securities sold within one year from the date of purchase. Given the Company s intent to hold portfolio securities for more than one year, the Company does not accrue a deferred tax liability on net unrealised gains on Indian securities. In case the Company incurred a total realised loss on security sales as at fiscal year-end, the Company could recover the taxable amount paid during the year on net realised gains, provided that a claim to the Tax Administration is introduced within 2 years as from end of the financial years. q) To be announced The Mortgage Back Securities To be announced are subject to current commercial market practices in relation to securities guaranteed by mortgages, according to which a party will buy/sell a basket of mortgage loans for a fixed price at a later date. At the time of the purchase/sale, the exact security is not known but its principal features are. Even if a price is agreed at the time of purchase/sale, the final face value will not yet have been fixed. The To-be-announced ( TBA ) Mortgage Back Securities positions are shown in the securities portfolio as at 31 December At the closing date, the purchase/sale of these securities had not yet been settled. As a result, the amounts relating to payables/receivables on securities are included under Other liabilities / Other in the Statement of net. r) Cross-investments The value of the cross-investments of the sub-funds has not been deducted for the calculation of the combined total net of the Company. Page 226

229 Notes to the financial statements at 31/12/2016 The total value of those cross-investments as at 31 December 2016 amounted to: Sub-fund investing in other PARVEST Sub-funds held by other PARVEST sub-funds sub-funds Currency Market Value (in EUR) Bond Euro Flexible Bond Euro EUR Bond Euro Corporate Bond Euro Short Term Corporate EUR Bond Euro Corporate Bond World High Yield Short Duration EUR Bond Euro Corporate Bond World Income EUR Bond Euro High Yield Bond World High Yield Short Duration EUR Bond USA High Yield Bond World High Yield Short Duration USD Bond World High Yield Bond World High Yield Short Duration EUR Diversified Dynamic Cross Asset Absolute Return EUR Enhanced Cash 6 Months Flexible Bond Euro EUR Equity Russia Equity Russia Opportunities EUR Equity World Emerging Equity World Emerging Small Cap USD Flexible Bond Europe Corporate Enhanced Cash 6 Months EUR Flexible Multi-Asset Convertible Bond World EUR Flexible Multi-Asset Enhanced Cash 6 Months EUR Flexible Multi-Asset Equity Europe Small Cap EUR Flexible Multi-Asset Multi-Asset Income Emerging EUR Total: The net at the end of the financial year of combined figures would be EUR without taking into account the cross-investments values. Note 3 - Management and advisory fees (maximum per annum) The maximum annual fee payable monthly are calculated on the average net asset value of each share class for each sub-fund over the past month. For certain sub-funds a reduced management fee was charged during the financial year/period. The management fees applicable to the Classic category are applicable to all share sub-categories and classes with the word Classic in their denomination, and to N category. The management fees applicable to the I category are also applicable to all share sub-categories and classes with the word I in their denomination. The management fees applicable to the Privilege category are also applicable to all share sub-categories and classes with the word Privilege in their denomination. No management fee is charged for the X category. A sub-fund may not invest in a UCITS, or other UCIS, with a management fee exceeding 3.00% per annum. Sub-fund Classic Privilege I Life Aqua 1.75% 0.90% 0.90% 1.615% Bond Absolute Return V % 0.40% 0.30% N/A Bond Absolute Return V % 0.55% 0.50% N/A Bond Asia ex-japan 1.25% 0.75% 0.60% N/A Bond Best Selection World Emerging 1.50% 0.75% 0.60% N/A Bond Euro 0.75% 0.40% 0.30% N/A Bond Euro Corporate 0.75% 0.40% 0.30% N/A Bond Euro Government 0.70% 0.35% 0.25% N/A Bond Euro High Yield 1.20% 0.60% 0.55% N/A Bond Euro Inflation-Linked 0.75% 0.40% 0.30% N/A Bond Euro Long Term 0.70% 0.35% 0.25% N/A Bond Euro Medium Term 0.50% 0.25% 0.20% N/A Bond Euro Short Term 0.50% 0.25% 0.20% N/A Bond Euro Short Term Corporate 0.50% 0.25% 0.20% N/A Bond Europe Emerging 1.50% 0.75% 0.60% N/A Page 227

230 Notes to the financial statements at 31/12/2016 Sub-fund Classic Privilege I Life Bond JPY 0.75% 0.40% 0.30% N/A Bond RMB (launched on 28 November 2016) 1.00% 0.50% 0.40% N/A Bond USA High Yield 1.20% 0.60% 0.55% N/A Bond USD 0.75% 0.40% 0.30% N/A Bond USD Short Duration 0.50% 0.25% 0.20% N/A Bond World 0.75% 0.40% 0.30% N/A Bond World Emerging 1.50% 0.75% 0.60% N/A Bond World Emerging Local 1.50% 0.75% 0.60% N/A Bond World High Yield 1.20% 0.60% 0.55% N/A Bond World High Yield Short Duration 0.80% 0.40% 0.40% N/A Bond World Income 0.80% 0.40% 0.40% N/A Bond World Inflation-Linked 0.75% 0.40% 0.30% N/A Climate Impact (formerly Environmental Opportunities since 2 November 2016) Commodities 1.50% 0.75% 2.20% 1.10% 1.10% N/A 0.60% until 24 April % since 25 April 2016 Convertible Bond Asia 1.20% 0.65% 0.60% N/A Convertible Bond Europe 1.20% 0.65% 0.60% N/A Convertible Bond Europe Small Cap 1.20% 0.65% 0.60% N/A Convertible Bond World 1.20% 0.65% 0.60% N/A Covered Bond Euro (formerly Euro Covered Bond since 25 April 2016) Cross Asset Absolute Return 1.25% 0.65% Diversified Dynamic 1.10% 0.55% N/A 0.70% 0.35% 0.25% N/A 0.50% until 24 April % since 25 April % until 24 April % since 25 April 2016 Enhanced Cash 6 Months 0.50% 0.25% 0.20% 0.385% Equity Asia ex-japan (launched on 25 November 2016) 1.50% N/A N/A N/A Equity Asia Pacific ex-japan (formerly Equity Pacific ex-japan) 1.50% 0.75% 0.75% N/A Equity Australia 1.50% 0.75% 0.75% N/A Equity Best Selection Asia ex-japan 1.50% 0.75% 0.75% N/A Equity Best Selection Euro 1.50% 0.75% 0.75% N/A Equity Best Selection Europe 1.50% 0.75% 0.75% N/A Equity Best Selection Europe ex-uk 1.50% 0.75% 0.75% N/A Equity Best Selection World 1.50% 0.75% 0.75% 1.385% Equity Brazil 1.75% 0.90% 0.90% N/A Equity Bric (absorbed on 7 October 2016) 1.75% 0.90% 0.90% N/A Equity China 1.75% 0.90% 0.90% N/A Equity Europe Emerging 1.75% 0.90% 0.90% N/A Equity Europe Growth 1.50% 0.75% 0.75% N/A Equity Europe Mid Cap 1.50% 0.75% 0.75% N/A Equity Europe Small Cap 1.75% 0.90% 0.85% N/A Equity Europe Value 1.50% 0.75% 0.75% N/A Equity Germany 1.50% 0.75% 0.75% N/A Equity High Dividend Pacific 1.50% 0.75% 0.75% N/A Equity High Dividend USA 1.50% 0.75% 0.75% N/A Equity High Dividend World 1.50% 0.75% 0.75% N/A Equity India 1.75% 0.90% 0.90% N/A N/A N/A Page 228

231 Notes to the financial statements at 31/12/2016 Sub-fund Classic Privilege I Life Equity Indonesia 1.75% 0.90% 0.90% N/A Equity Japan 1.50% 0.75% 0.75% N/A Equity Japan Small Cap 1.75% 0.90% 0.85% N/A Equity Latin America 1.75% 0.90% 0.90% N/A Equity New Frontiers (launched on 29 July 2016) 1.90% 0.95% 0.95% N/A Equity Nordic Small Cap 1.75% 0.90% 0.85% N/A Equity Russia 1.75% 0.90% 0.90% N/A Equity Russia Opportunities 1.75% 0.90% 0.90% N/A Equity South Korea 1.75% 0.90% 0.90% N/A Equity Turkey 1.75% 0.90% 0.90% N/A Equity USA 1.50% 0.75% 0.75% N/A Equity USA Growth 1.50% 0.75% 0.75% N/A Equity USA Mid Cap 1.75% 0.90% 0.85% N/A Equity USA Small Cap 1.75% 0.90% 0.85% N/A Equity USA Value 1.50% 0.75% 0.75% N/A Equity World Consumer Durables 1.50% 0.75% 0.75% N/A Equity World Emerging 1.75% 0.90% 0.90% N/A Equity World Emerging Low Volatility 1.75% 0.90% 0.90% N/A Equity World Emerging Small Cap 1.75% 0.95% 0.95% N/A Equity World Energy 1.50% 0.75% 0.75% N/A Equity World Finance 1.50% 0.75% 0.75% N/A Equity World Health Care 1.50% 0.75% 0.75% N/A Equity World Low Volatility 1.50% 0.75% 0.75% N/A Equity World Materials 1.50% 0.75% 0.75% N/A Equity World Technology 1.50% 0.75% 0.75% N/A Equity World Telecom 1.50% 0.75% 0.75% N/A Equity World Utilities 1.50% 0.75% 0.75% N/A Flexible Bond Euro 0.80% 0.40% 0.40% N/A Flexible Bond Europe Corporate 0.90% 0.45% 0.40% N/A Flexible Equity Europe 1.75% 0.90% 0.85% N/A Flexible Multi-Asset 1.20% 0.60% 0.50% until 24 April % since N/A 25 April 2016 Global Environment 1.75% 0.90% 0.85% N/A Green Tigers 1.50% 0.75% 0.75% N/A Human Development 1.50% 0.75% 0.75% N/A Money Market Euro 0.50% 0.25% 0.20% N/A Money Market USD 0.50% 0.25% 0.20% N/A Multi-Asset Income Emerging 1.25% 0.65% 0.60% N/A (launched on 25 April 2016) Multi-Strategy Low Vol 0.80% until (absorbed on 10 November 2016) 1 April 2016 N/A 0.30% N/A Multi-Strategy Medium Vol (absorbed on 1 April 2016) 1.30% N/A 0.55% N/A Multi-Strategy Medium Vol (USD) (absorbed on 1 April 2016) 1.30% 0.65% 0.55% N/A Opportunities World (absorbed on 29 January 2016) 1.50% 0.75% 0.60% N/A Real Estate Securities Europe 1.50% 0.75% 0.75% N/A Real Estate Securities Pacific 1.50% 0.75% 0.75% N/A Real Estate Securities World 1.50% 0.75% 0.75% N/A SMaRT Food 1.75% 0.90% 0.85% N/A Step 80 World Emerging (absorbed on 8 January 2016) 1.50% N/A N/A N/A Page 229

232 Notes to the financial statements at 31/12/2016 Sub-fund Classic Privilege I Life Step 90 Euro 1.50% N/A N/A N/A Sustainable Bond Euro 0.75% 0.40% 0.30% N/A Sustainable Bond Euro Corporate 0.75% 0.40% 0.30% N/A Sustainable Bond World Corporate (formerly Bond World Corporate since 0.75% 0.40% 0.30% N/A 2 November 2016) Sustainable Equity Europe 1.50% 0.75% 0.75% N/A Sustainable Equity High Dividend Europe (new name of Equity High Dividend Europe since 25 April 2016) 1.50% 0.75% 0.75% N/A A maximum advisory fee of 0.15% is applied to all the share classes of the sub-funds Equity High Dividend USA, Equity Japan Small Cap, Equity USA Mid Cap and Equity USA Value (until 31 July 2016), excepted to the X share class. An indirect fee of maximum 1.00% is applied for the sub-funds: Diversified Dynamic, Flexible Multi-Asset The sub-funds of PARVEST are not invested more than 50 % in other BNP Paribas sub-funds. Note 4 - Distribution fees Distribution fees are calculated and deducted monthly from the average net of a sub-fund, share category, or share class, paid to the Management Company and serve to cover remuneration of the distributors, supplemental to the share of the management fee that they receive. Note 5 - Performance fees: calculation method and summary table BNP Paribas Investment Partners Luxembourg will receive a performance fee if the performance of the sub-fund s share category for the relevant reference period (1) is: - first, positive, - and second, better than the performance of the benchmark index or hurdle rate indicated in the table below, when the High Water Mark (HWM) principle is applied. The High Water Mark will be the last Net Asset Value in the previous financial year for which a performance fee was paid (the reference value). This means that, for sub-funds that calculate a performance fee by comparison with a benchmark index, the performance fee may be paid if the relevant share category outperformed the benchmark index and if the net asset value per share is greater than the reference value, on the understanding that the share category s net asset value may not be at its all-time highest at that particular moment in time. For sub-funds that calculate a performance fee by comparison with a hurdle rate, this means that the performance fee will only be paid if: - the relevant share category has outperformed the hurdle rate, and - the share category s net asset value has reached an all-time high. For the purposes of the calculation: - A performance fee will be provisionally allocated to each net asset value that is calculated. The annual fee will correspond to the results obtained by adding the fees thus allocated over the year. The performance fee will be paid at the end of the financial year. - If shares of the category are redeemed during the period, the fraction of the provisioned performance fee that corresponds to the total amount redeemed for the category will still be charged and paid at the end of the financial period. - The performance fee for distributing class shares will be adjusted to take into account any dividends paid. In this case, the High Water Mark for distributing class shares will be adjusted at the end of the financial year to reflect dividends paid over the year. - Benchmark indexes, hurdle rates and performance fee rates may only be modified at the end of a financial year. (1) The reference period shall mean the SICAV s financial year, unless the share category s net asset value at the beginning of the financial year is less than the reference value or HWM. In that case, the reference period shall run from the HWM date. When a sub-fund introduces a performance fee mid-year, the first reference period shall run from the day the fee is introduced and shall end at the end of that financial year. Page 230

233 Notes to the financial statements at 31/12/2016 Summary table of the sub-funds with Performance fee The Performance Fee is charged for the following share categories depending on the sub-funds: Sub-fund Categories Annual performance fee rate Benchmark index Hurdle rate Bond Absolute Return V350 I 15% - EONIA, Libor or Stibor (*) Bond Absolute Return V700 I 15% - EONIA, Libor or Stibor (**) Cross Asset Absolute Return All categories except for X 15% - EONIA (***) Multi-Strategy Low Vol (absorbed on 10 November 2016) All categories 10% - EONIA Multi-Strategy Medium Vol (absorbed on 1 April 2016) All categories 15% - EONIA Multi-Strategy Medium Vol (USD) Libor USD All categories 15% - (absorbed on 1 April 2016) Overnight (****) (*) 15% with EONIA ( I ), Libor CHF 1M ( I RH CHF ) and Stibor 1M SEK ( I RH SEK ) as hurdle rate. (**) 15% with EONIA ( I ), Libor GBP 1M ( I RH GBP ), Libor USD 1M ( I RH USD ) and Stibor 1M SEK ( I RH SEK ) as hurdle rate. (***) 15% with EONIA (Libor USD Overnight for the RH USD classes) as hurdle rate. (****) Expressed in the accounting and reference of the class as hurdle rate. Note 6 - Other fees Other fees are calculated and deducted monthly from the average net of a sub-fund, share category, or share class and serve to cover general custody expenses (remuneration of the Depositary) and daily administration expenses (NAV calculation, record and book keeping, notices to the shareholders, providing and printing the documents legally required for the shareholders, domiciliation, auditors cost and fees...), except for brokerage fees, commissions for transactions not related to the depositary, director fees, interest and bank fees, extraordinary expenses, reporting cost in relation with regulation requirements including the European Market Infrastructure Regulation (EMIR), and the taxe d abonnement in force in Luxembourg, as well as any other specific foreign tax and other regulators levy. Note 7 - Taxes At the date of the Prospectus, the Company is not liable to any Luxembourg income tax or capital gains tax. The Company is liable to an annual taxe d abonnement in Luxembourg representing 0.05% of the net asset value. This rate is reduced to 0.01% for: a) sub-funds with the exclusive objective of collective investments in money market instruments and deposits with credit institutions; b) sub-funds with the exclusive objective of collective investments in deposits with credit institutions; c) sub-funds, categories, or classes reserved for Institutional Investors, Managers, and UCIs. The following are exempt from this taxe d abonnement : a) the value of represented by units or shares in other UCIs, provided that these units, or shares have already been subject to the taxe d abonnement ; b) sub-funds, share categories and/or classes: (i) whose securities are reserved to Institutional Investors, Managers or UCIs and (ii) whose sole object is the collective investment in money market instruments and the placing of deposits with credit institutions, and (iii) whose weighted residual portfolio maturity does not exceed 90 days, and (iv) that have obtained the highest possible rating from a recognised rating agency; Page 231

234 Notes to the financial statements at 31/12/2016 c) sub-funds, share categories and/or classes reserved to: (i) (ii) institutions for occupational retirement pension or similar investment vehicles, set up at the initiative of one or more employers for the benefit of their employees, and companies having one or more employers investing funds to provide pension benefits to their employees; d) sub-funds whose main objective is investment in microfinance institutions; e) sub-funds, shares categories and/or classes: (i) (ii) whose securities are listed or traded on at least one stock exchange or another regulated market operating regularly that is recognized and open to the public, and whose exclusive object is to replicate the performance of one or several indices. When due, the taxe d abonnement is payable quarterly based on the relevant net and calculated at the end of the quarter for which it is applicable. In addition, the Company may be subject to foreign UCI s tax, and/or other regulators levy in the country where the sub-fund is registered for distribution. Note 8 - Dividends For the MD - Distribution share classes, which pay monthly dividends, the following dividends were paid: - Payment dates Month Record Date (1) NAV ex-dividend Date (2) Payment Date (3) January February 2016 February February 2016 March March 2016 April May 2016 May May 2016 June June 2016 July August 2016 August August 2016 September September 2016 October October 2016 November November 2016 December January 2017 (1) If this day is not a bank business day in Luxembourg, the record date will be the next following bank business day. (2) Dates are based on a valuation simulation in As a consequence, dates may change depending on the composition of the portfolio at this date. If for a particular reason, the day in question the valuation was not possible, the ex-date would be put off to the valuation day possible immediately afterwards. (3) If this day is not a bank business day in Luxembourg, the payment date will be the next following bank business day. If for a particular reason, the settlement is not possible (e.g. bank holiday on a specific or country), settlement will be made the 1st business day after or any other day communicated by the local agent. - Monthly amount since January 2016: Sub-fund Class Currency Dividend Bond Asia ex-japan Classic MD - Distribution USD 0.35 Bond Asia ex-japan Classic RH AUD MD - Distribution AUD 0.43 Bond Asia ex-japan Classic RH SGD MD - Distribution SGD 0.35 Bond Asia ex-japan Privilege MD - Distribution USD 0.37 Bond Best Selection World Emerging Classic MD - Distribution USD 0.12 Bond Euro High Yield Classic MD - Distribution EUR 0.35 Bond USA High Yield Classic MD - Distribution USD 0.41 Bond USA High Yield Classic H AUD MD - Distribution AUD 0.58 Bond USD Classic MD - Distribution USD 0.23 Bond USD Short Duration Classic MD - Distribution USD 0.14 Bond World Emerging Classic MD - Distribution USD 0.52 Page 232

235 Notes to the financial statements at 31/12/2016 Sub-fund Class Currency Dividend Bond World Emerging Classic H AUD MD - Distribution AUD 0.52 Bond World Emerging Local Classic MD - Distribution USD 0.27 Bond World High Yield Classic USD MD - Distribution USD 0.38 Bond World High Yield Classic H AUD MD - Distribution AUD 0.58 Bond World High Yield Classic H USD MD - Distribution USD 0.48 Convertible Bond Asia Classic MD - Distribution USD 0.10 Diversified Dynamic Classic RH USD MD - Distribution USD 0.15 Equity Europe Growth Classic RH SGD MD - Distribution SGD 0.25 Equity Europe Growth Classic RH USD MD - Distribution USD 0.25 Equity High Dividend Pacific Classic USD MD - Distribution USD 0.29 Equity Russia Classic USD MD - Distribution USD 0.43 Equity World Low Volatility Classic USD MD - Distribution USD 0.23 Equity World Utilities Classic USD MD - Distribution USD 0.32 Sustainable Equity High Dividend Europe Classic RH USD MD - Distribution USD Monthly amount since March 2016: Sub-fund Class Currency Dividend Diversified Dynamic Classic RH USD MD - Distribution USD Monthly amount since July 2016: Sub-fund Class Currency Dividend Multi-Asset Income Emerging Classic MD - Distribution USD 0.50 Multi-Asset Income Emerging Classic HKD MD - Distribution HKD 0.50 Multi-Asset Income Emerging Classic RH AUD MD - Distribution AUD 0.58 Multi-Asset Income Emerging Classic RH CNH MD - Distribution CNH 0.67 Multi-Asset Income Emerging Classic RH SGD MD - Distribution SGD 0.50 The following dividends were paid on 2 May 2016 for shares outstanding on 21 April 2016 with ex-date 22 April 2016: Sub-fund Class Currency Dividend Bond Asia ex-japan Classic - Distribution USD 4.45 Bond Asia ex-japan Classic EUR - Distribution EUR 4.06 Bond Asia ex-japan Privilege - Distribution USD 3.41 Bond Best Selection World Emerging Classic - Distribution USD 8.90 Bond Best Selection World Emerging Classic RH EUR - Distribution EUR 1.43 Bond Best Selection World Emerging Privilege RH EUR - Distribution EUR 4.55 Bond Euro Classic - Distribution EUR 0.90 Bond Euro Privilege - Distribution EUR 0.87 Bond Euro Corporate Classic - Distribution EUR 1.58 Bond Euro Corporate I - Distribution EUR 1.44 Bond Euro Corporate Privilege - Distribution EUR 1.54 Bond Euro Government Classic - Distribution EUR 1.63 Bond Euro Government Privilege - Distribution EUR 0.81 Bond Euro High Yield Classic - Distribution EUR 5.13 Bond Euro High Yield I - Distribution EUR 5.02 Bond Euro High Yield Privilege - Distribution EUR 5.13 Bond Euro Long Term Classic - Distribution EUR 6.75 Bond Euro Short Term Corporate Classic - Distribution EUR 0.72 Bond Europe Emerging Classic - Distribution EUR 4.54 Bond Europe Emerging Privilege - Distribution EUR 1.90 Bond JPY Classic - Distribution JPY Bond USD Classic - Distribution USD 8.66 Bond USD Privilege - Distribution USD 2.60 Page 233

236 Notes to the financial statements at 31/12/2016 Sub-fund Class Currency Dividend Bond World Classic - Distribution EUR 3.69 Bond World Emerging Classic - Distribution USD 4.78 Bond World Emerging Classic EUR - Distribution EUR Bond World Emerging I - Distribution USD 6.03 Bond World Emerging Privilege - Distribution USD 5.10 Bond World Emerging Local Classic - Distribution USD 4.13 Bond World Emerging Local Classic EUR - Distribution EUR 4.45 Bond World Emerging Local Classic RH EUR - Distribution EUR 3.60 Bond World Emerging Local Privilege - Distribution USD 3.76 Bond World High Yield Classic - Distribution EUR 2.22 Bond World High Yield Classic H USD - Distribution USD 2.81 Bond World High Yield Privilege - Distribution EUR 6.89 Bond World High Yield Short Duration Classic - Distribution USD 6.51 Bond World High Yield Short Duration Privilege - Distribution USD 6.55 Bond World Income Classic - Distribution EUR 0.50 Bond World Income Classic RH USD - Distribution USD 1.20 Bond World Income Privilege - Distribution EUR 1.60 Bond World Income Privilege RH USD - Distribution USD 2.30 Bond World Inflation-Linked Classic - Distribution EUR 1.31 Bond World Inflation-Linked Privilege - Distribution EUR 1.03 Climate Impact Classic - Distribution EUR 2.39 Convertible Bond Asia Classic - Distribution USD 0.58 Convertible Bond Asia Classic EUR - Distribution EUR 0.53 Convertible Bond Asia Privilege - Distribution USD 0.58 Covered Bond Euro Classic - Distribution EUR 0.53 Diversified Dynamic Classic - Distribution EUR 1.14 Diversified Dynamic Privilege - Distribution EUR 0.97 Equity Asia Pacific ex-japan Classic - Distribution EUR 4.81 Equity Asia Pacific ex-japan Privilege - Distribution EUR 3.95 Equity Australia Classic - Distribution AUD Equity Best Selection Asia ex-japan Classic - Distribution EUR Equity Best Selection Asia ex-japan Classic USD - Distribution USD Equity Best Selection Asia ex-japan Privilege - Distribution EUR 3.28 Equity Best Selection Euro Classic - Distribution EUR 8.46 Equity Best Selection Euro I - Distribution EUR 3.28 Equity Best Selection Euro Privilege - Distribution EUR 3.71 Equity Best Selection Europe Classic - Distribution EUR 4.68 Equity Best Selection Europe Classic CHF - Distribution CHF 3.97 Equity Best Selection Europe Privilege - Distribution EUR 3.53 Equity Best Selection Europe ex-uk Classic - Distribution EUR 3.14 Equity Brazil Classic - Distribution USD 2.10 Equity Bric Classic - Distribution USD 4.01 Equity China Classic - Distribution USD 5.33 Equity China Classic EUR - Distribution EUR 2.74 Equity China Privilege - Distribution USD 2.40 Equity Europe Emerging Classic - Distribution EUR Equity Europe Emerging Privilege - Distribution EUR 2.85 Equity Europe Growth Classic - Distribution EUR 4.96 Equity Europe Growth Privilege - Distribution EUR 4.22 Equity Europe Mid Cap Classic - Distribution EUR Equity Europe Small Cap Classic - Distribution EUR 4.36 Equity Europe Small Cap Privilege - Distribution EUR 3.94 Equity Europe Value Classic - Distribution EUR 3.83 Equity Germany Classic - Distribution EUR 6.05 Equity High Dividend Pacific Classic - Distribution EUR 2.46 Equity High Dividend Pacific Classic USD - Distribution USD 4.31 Page 234

237 Notes to the financial statements at 31/12/2016 Sub-fund Class Currency Dividend Equity High Dividend Pacific Privilege - Distribution EUR 5.86 Equity High Dividend USA Classic - Distribution USD 2.59 Equity High Dividend USA Classic EUR - Distribution EUR 3.58 Equity High Dividend USA Classic H EUR - Distribution EUR 0.87 Equity High Dividend USA Privilege - Distribution USD 2.11 Equity High Dividend USA Privilege H EUR - Distribution EUR 2.19 Equity India Classic - Distribution USD 1.54 Equity India Classic EUR - Distribution EUR 1.42 Equity India Privilege - Distribution USD 1.82 Equity Indonesia Classic - Distribution USD 3.22 Equity Indonesia Classic EUR - Distribution EUR 2.02 Equity Indonesia Privilege - Distribution USD 1.56 Equity Japan Classic - Distribution JPY Equity Japan Privilege - Distribution JPY Equity Japan Small Cap Classic - Distribution JPY Equity Latin America Classic - Distribution USD 9.04 Equity Nordic Small Cap Classic - Distribution EUR 6.54 Equity Russia Classic - Distribution EUR 3.01 Equity Russia Classic USD - Distribution USD 2.44 Equity Russia I - Distribution EUR 4.52 Equity Russia Privilege - Distribution EUR 3.49 Equity Russia Privilege GBP - Distribution GBP 3.97 Equity Russia Opportunities Classic - Distribution USD 2.06 Equity South Korea Classic - Distribution USD 0.86 Equity Turkey Classic - Distribution EUR 4.91 Equity Turkey Classic USD - Distribution USD 1.89 Equity Turkey Privilege - Distribution EUR 2.62 Equity USA Classic - Distribution USD 1.77 Equity USA Classic EUR - Distribution EUR 1.63 Equity USA Growth Classic - Distribution USD 1.65 Equity USA Growth Classic H EUR - Distribution EUR 2.16 Equity USA Mid Cap Classic - Distribution USD 2.84 Equity USA Small Cap Classic - Distribution USD 2.14 Equity USA Small Cap Classic EUR - Distribution EUR 1.97 Equity USA Small Cap Privilege - Distribution USD 1.74 Equity USA Value Classic - Distribution USD 2.36 Equity USA Value Classic H EUR - Distribution EUR 2.38 Equity USA Value Classic H GBP - Distribution GBP 2.38 Equity USA Value Privilege H EUR - Distribution EUR 2.41 Equity World Consumer Durables Classic - Distribution EUR 2.25 Equity World Consumer Durables Privilege - Distribution EUR 2.64 Equity World Emerging Classic - Distribution USD 3.25 Equity World Emerging Classic EUR - Distribution EUR 2.37 Equity World Emerging Low Volatility Classic - Distribution USD 2.19 Equity World Energy Classic - Distribution EUR Equity World Energy Classic USD - Distribution USD Equity World Energy Privilege - Distribution EUR 3.50 Equity World Finance Classic - Distribution EUR 6.61 Equity World Finance Privilege - Distribution EUR 4.12 Equity World Health Care Classic - Distribution EUR Equity World Health Care Privilege - Distribution EUR 3.03 Equity World Low Volatility Classic - Distribution EUR 7.35 Equity World Low Volatility Classic USD - Distribution USD 8.03 Equity World Materials Classic - Distribution EUR 1.54 Equity World Materials Privilege - Distribution EUR 3.38 Equity World Technology Classic - Distribution EUR 7.86 Page 235

238 Notes to the financial statements at 31/12/2016 Sub-fund Class Currency Dividend Equity World Technology Classic USD - Distribution USD 2.65 Equity World Technology Privilege - Distribution EUR 2.42 Equity World Telecom Classic - Distribution EUR Equity World Telecom Privilege - Distribution EUR 4.63 Equity World Utilities Classic - Distribution EUR 3.24 Equity World Utilities Classic USD - Distribution USD 3.51 Equity World Utilities Privilege - Distribution EUR 5.58 Flexible Equity Europe Classic - Distribution EUR 4.19 Global Environment Classic - Distribution EUR 3.37 Green Tigers Classic - Distribution EUR 4.14 Green Tigers Classic USD - Distribution USD 2.42 Green Tigers Privilege - Distribution EUR 3.15 Money Market USD Classic - Distribution USD 0.50 Real Estate Securities Europe Classic - Distribution EUR 5.12 Real Estate Securities Europe Privilege - Distribution EUR 4.88 Real Estate Securities Pacific Classic - Distribution EUR 2.63 Real Estate Securities Pacific Classic USD - Distribution USD 2.84 Real Estate Securities Pacific Privilege - Distribution EUR 3.35 Real Estate Securities World Classic - Distribution EUR 1.24 Real Estate Securities World Privilege - Distribution EUR 4.66 SMaRT Food Classic - Distribution EUR 2.40 Sustainable Bond Euro Classic - Distribution EUR 0.87 Sustainable Bond Euro Privilege - Distribution EUR 0.84 Sustainable Bond Euro Corporate Classic - Distribution EUR 1.54 Sustainable Bond Euro Corporate Privilege - Distribution EUR 1.44 Sustainable Bond World Corporate Classic - Distribution USD 4.04 Sustainable Equity Europe Classic - Distribution EUR 2.94 Sustainable Equity High Dividend Europe Classic - Distribution EUR 1.62 Sustainable Equity High Dividend Europe Privilege - Distribution EUR 3.94 The following dividends were paid on 30 June 2016 for shares outstanding on 16 June 2016 with ex-date 17 June 2016: Sub-fund Class Currency Dividend Convertible Bond Europe Classic - Distribution EUR 1.00 Convertible Bond Europe I - Distribution EUR 1.11 Convertible Bond Europe Privilege - Distribution EUR 1.14 Convertible Bond Europe Small Cap Classic - Distribution EUR 1.74 Convertible Bond World Classic - Distribution USD 1.01 Convertible Bond World Classic RH EUR - Distribution EUR 0.88 Convertible Bond World Classic RH PLN - Distribution PLN 4.46 Convertible Bond World I RH EUR - Distribution EUR 1.08 Convertible Bond World Privilege RH EUR - Distribution EUR 1.12 It has been decided not to pay dividends for the following sub-funds this year: Sub-fund Bond Absolute Return V350 Bond Absolute Return V350 Bond Absolute Return V700 Bond Euro Inflation-Linked Bond Euro Inflation-Linked Bond Euro Medium Term Bond Euro Short Term Bond Euro Short Term Commodities Class Classic - Distribution Privilege - Distribution Classic - Distribution Classic - Distribution Privilege - Distribution Classic - Distribution Classic - Distribution Privilege - Distribution Classic - Distribution Page 236

239 Notes to the financial statements at 31/12/2016 Sub-fund Commodities Commodities Commodities Enhanced Cash 6 Months Enhanced Cash 6 Months Flexible Bond Euro Flexible Bond Europe Corporate Flexible Multi-Asset Money Market Euro Class Classic EUR - Distribution Classic H EUR - Distribution Privilege - Distribution Classic - Distribution Privilege - Distribution Classic - Distribution Classic - Distribution Classic - Distribution Classic - Distribution Note 9 - Share currencies The net asset value per share is priced in the of the share class and not in the of the sub-fund in the section Key figures relating to the last 3 years. Note 10 - Exchange rates The exchange rates used for consolidation and for the conversion of share classes denominated in a other than the reference of the relevant sub-fund as at 31 December 2016 were the following: EUR 1 = AUD EUR 1 = CHF EUR 1 = CNH EUR 1 = CZK EUR 1 = GBP EUR 1 = HUF EUR 1 = JPY EUR 1 = HKD EUR 1 = NOK EUR 1 = PLN EUR 1 = SEK EUR 1 = SGD EUR 1 = USD Note 11 - Futures contracts As at 31 December 2016, the following positions were outstanding: Bond Absolute Return V350 Purchase/ Currency Quantity Description Sale Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 17 P EURO-BOBL FUTURE 08/03/ EUR 57 S EURO-BUND FUTURE 08/03/ (68 280) USD S US 5YR NOTE FUTURE (CBT) 31/03/ ( ) EUR 254 S EURO-SCHATZ FUTURE 08/03/ (24 130) USD 657 P US 2YR NOTE FUTURE (CBT) 31/03/ (38 931) EUR 179 S EURO-BTP FUTURE 08/03/ ( ) GBP 7 P LONG GILT FUTURE (LIFFE) 29/03/ EUR 24 S EURO BUXL 30Y BONDS 08/03/ (57 880) USD 572 S EUR 110 S US 10YR NOTE FUTURE (CBT) SHORT TERM EURO BTP FUTURE 22/03/ /03/ ( ) Page 237

240 Notes to the financial statements at 31/12/2016 Bond Absolute Return V350 (continued) Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) USD 53 P ULTRA 10 YEAR US TREASURY NOTE FUTURE 22/03/ AUD 34 S AUST 10 YR BONDS FUTURE 15/03/ (8 775) AUD 832 P AUST 3 YR BONDS 15/03/ ( ) EUR 30 S EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% 08/03/ (50 100) JPY 25 S JPN 10Y BONDS (TSE) 13/03/ (22 354) USD 193 S ULTRA LONG TERM US TREASURY BONDS FUTURE 22/03/ USD 30 S US LONG BONDS FUTURE (CBT) 22/03/ (58 219) CAD 16 P CAN 10YR BONDS FUTURE 22/03/ Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Absolute Return V700 Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 47 P EURO-BOBL FUTURE 08/03/ EUR 58 S EURO-BUND FUTURE 08/03/ (85 910) USD 292 S US 5YR NOTE FUTURE (CBT) 31/03/ ( ) EUR 16 P EURO-SCHATZ FUTURE 08/03/ USD 100 S US 2YR NOTE FUTURE (CBT) 31/03/ EUR 87 S EURO-BTP FUTURE 08/03/ ( ) GBP 11 P LONG GILT FUTURE (LIFFE) 29/03/ EUR 24 S EURO BUXL 30Y BONDS 08/03/ (60 640) USD 187 S US 10YR NOTE FUTURE (CBT) 22/03/ EUR 11 S SHORT TERM EURO BTP FUTURE 08/03/ (12 100) CAD 40 P CAN 10YR BOND FUTURE 22/03/ USD 68 P ULTRA 10 YEAR US TREASURY NOTE FUTURE 22/03/ (10 214) AUD 17 S AUST 10 YR BONDS FUTURE 15/03/ (4 388) AUD 461 P AUST 3 YR BONDS 15/03/ (68 596) EUR 3 P EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% 08/03/ JPY 13 S JPN 10Y BONDS (TSE) 13/03/ (11 624) USD 39 S ULTRA LONG TERM US TREASURY BONDS FUTURE 22/03/ USD 43 S US LONG BONDS FUTURE (CBT) 22/03/ (2 000) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Page 238

241 Notes to the financial statements at 31/12/2016 Bond Asia ex-japan Currency Quantity Purchase/ Sale USD 14 S USD 6 S Description US 10YR NOTE FUTURE (CBT) US LONG BONDS FUTURE (CBT) Maturity Commitment (in USD) Net unrealised gain/(loss) (in USD) 22/03/ /03/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to USD. Bond Euro Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Total: Net unrealised gain/(loss) (in EUR) EUR 49 S EURO-BUND FUTURE 08/03/ ( ) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Corporate Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR S EURO-BOBL FUTURE 08/03/ ( ) EUR 546 P EURO-BUND FUTURE 08/03/ USD 134 S US 5YR NOTE FUTURE (CBT) 31/03/ EUR P EURO-SCHATZ FUTURE 08/03/ EUR 20 P EURO BUXL 30Y BONDS 08/03/ Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Inflation-Linked Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 18 P EURO-BOBL FUTURE 08/03/ EUR 22 S EURO-BUND FUTURE 08/03/ (30 339) USD 19 S US 5YR NOTE FUTURE (CBT) 31/03/ (1 467) EUR 15 S EURO BUXL 30Y BONDS 08/03/ (56 880) EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% EUR 17 S 08/03/ (23 760) Total: (96 176) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Long Term Currency Quantity Net unrealised Purchase/ Commitment Description Maturity gain/(loss) Sale (in EUR) (in EUR) EUR 5 P EURO-BUND FUTURE 08/03/ EUR 3 S EURO-BTP FUTURE 08/03/ (9 720) EUR 6 S EURO BUXL 30Y BONDS 08/03/ (24 480) Total: (24 470) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Page 239

242 Notes to the financial statements at 31/12/2016 Bond Euro Short Term Currency Quantity Net unrealised Purchase/ Commitment Description Maturity gain/(loss) Sale (in EUR) (in EUR) EUR 62 P EURO-BOBL FUTURE 08/03/ EUR 193 P EURO-SCHATZ FUTURE 08/03/ EUR 245 S SHORT TERM EURO BTP FUTURE 08/03/ ( ) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Short Term Corporate Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) USD 8 S US 5YR NOTE FUTURE (CBT) 31/03/ EUR 500 P EURO-SCHATZ FUTURE 08/03/ Total: As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond USD Currency Quantity Purchase/ Sale Description Maturity Commitment (in USD) Net unrealised gain/(loss) (in USD) EUR 12 P EURO-BOBL FUTURE 08/03/ EUR 39 S EURO-BUND FUTURE 08/03/ (78 442) USD 57 S US 5YR NOTE FUTURE (CBT) 31/03/ (54 422) EUR 20 P EURO-SCHATZ FUTURE 08/03/ USD 54 P US 2YR NOTE FUTURE (CBT) 31/03/ (3 500) EUR 36 S EURO-BTP FUTURE 08/03/ (63 981) GBP 1 P LONG GILT FUTURE (LIFFE) 29/03/ EUR 6 S EURO BUXL 30Y BONDS 08/03/ (15 906) USD 53 S US 10YR NOTE FUTURE (CBT) 22/03/ USD 113 P US LONG BOND FUTURE (CBT) 22/03/ (82 250) USD 61 P ULTRA 10 YEAR US TREASURY NOTE FUTURE 22/03/ (19 344) AUD 20 S AUST 10 YR BONDS FUTURE 15/03/ (5 445) AUD 211 P AUST 3 YR BONDS 15/03/ (33 115) EUR 4 S EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% 08/03/ (7 046) USD 76 S ULTRA LONG TERM US TREASURY BONDS FUTURE 22/03/ CAD 4 S CAN 10YR BONDS FUTURE 22/03/ Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to USD. Page 240

243 Notes to the financial statements at 31/12/2016 Bond USD Short Duration Currency Quantity Net unrealised Purchase/ Commitment Description Maturity gain/(loss) Sale (in USD) (in USD) USD 18 P US 5YR NOTE FUTURE (CBT) 31/03/ (2 711) USD 42 P US 2YR NOTE FUTURE (CBT) 31/03/ (3 125) USD 16 S US 10YR NOTE FUTURE (CBT) 22/03/ USD 4 P US LONG BOND FUTURE (CBT) 22/03/ (3 125) Total: (4 586) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to USD. Bond World Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 81 P EURO-BOBL FUTURE 08/03/ EUR 57 S EURO-BUND FUTURE 08/03/ ( ) USD 70 S US 5YR NOTE FUTURE (CBT) 31/03/ (63 915) EUR 77 P EURO-SCHATZ FUTURE 08/03/ USD 60 P US 2YR NOTE FUTURE (CBT) 31/03/ (3 555) EUR 33 S EURO-BTP FUTURE 08/03/ (53 790) GBP 6 P LONG GILT FUTURE (LIFFE) 29/03/ EUR 13 P EURO BUXL 30Y BONDS 08/03/ USD 126 S US 10YR NOTE FUTURE (CBT) 22/03/ USD 14 P US LONG BOND FUTURE (CBT) 22/03/ EUR 23 S SHORT TERM EURO BTP FUTURE 08/03/ (25 300) USD 16 P ULTRA 10 YEAR US TREASURY NOTE FUTURE 22/03/ (1 363) AUD 6 S AUST 10 YR BONDS FUTURE 15/03/ (1 549) AUD 102 P AUST 3 YR BONDS 15/03/ (15 177) EUR 28 P EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% 08/03/ USD 15 S ULTRA LONG TERM US TREASURY BONDS FUTURE 22/03/ CAD 8 S CAN 10YR BONDS FUTURE 22/03/ KRW 22 P KOREA 3YR BONDS FUTURE 21/03/ Total: (5 895) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond World Income Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 515 S EURO-BOBL FUTURE 08/03/ ( ) USD 360 S US 5YR NOTE FUTURE (CBT) 31/03/ EUR S EURO-SCHATZ FUTURE 08/03/ ( ) USD 410 S US 2YR NOTE FUTURE (CBT) 31/03/ USD 335 P ULTRA 10 YEAR US TREASURY NOTE FUTURE 22/03/ ( ) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Page 241

244 Notes to the financial statements at 31/12/2016 Bond World Inflation-Linked Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 28 P EURO-BOBL FUTURE 08/03/ EUR 10 P EURO-BUND FUTURE 08/03/ USD 64 P US 5YR NOTE FUTURE (CBT) 31/03/ USD 12 P US 2YR NOTE FUTURE (CBT) 31/03/ (1 067) EUR 4 P EURO-BTP FUTURE 08/03/ EUR 6 S EURO BUXL 30Y BONDS 08/03/ (19 200) USD 11 P US 10YR NOTE FUTURE (CBT) 22/03/ USD 14 S US LONG BOND FUTURE (CBT) 22/03/ (11 970) USD 30 S ULTRA 10 YEAR US TREASURY NOTE FUTURE 22/03/ EUR 1 P EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% 08/03/ JPY 1 S JPN 10Y BONDS (TSE) 13/03/ (894) USD 19 S ULTRA LONG TERM US TREASURY BONDS FUTURE 22/03/ (6 814) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Convertible Bond World Currency Total: Net unrealised Purchase/ Commitment Quantity Description Maturity gain/(loss) Sale (in USD) (in USD) USD 360 S JPY CURRENCY FUTURE 13/03/ ( ) USD 164 S EURO FX CURR FUTURE (CME) 13/03/ (51 250) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to USD. Covered Bond Euro Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 30 S EURO-BOBL FUTURE 08/03/ (19 500) EUR 22 S EURO-BUND FUTURE 08/03/ (22 000) Total: (41 500) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Cross Asset Absolute Return Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 84 S EURO-BUND FUTURE 08/03/ ( ) JPY 8 P NIKKEI 225 (SGX) 09/03/ USD 1 P DOLLAR INDEX SPOT 13/03/ (661) USD 23 P S&P 500 E-MINI FUTURE 17/03/ (15 482) JPY 210 P NIKKEI225 DIV INDEX 30/03/ ( ) USD 112 S CHI AUD / USD 13/03/ USD 129 S E-MINI MSCI EMERGING MARKETS INDEX 17/03/ USD 82 S JPY CURRENCY FUTURE 13/03/ (71 782) USD 53 P NASDAQ E-MINI FUTURE 17/03/ (2 764) Page 242

245 Notes to the financial statements at 31/12/2016 Cross Asset Absolute Return (continued) Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) USD 98 S US 10YR NOTE FUTURE (CBT) 22/03/ JPY 35 S 10 YR MINI JGB FUTURE (SGX) 10/03/ (3 983) USD 51 P EURO E-MINI FUTURE 13/03/ USD 82 S RUSSELL 2000 MINI INDEX FUTURE 17/03/ USD 50 S GBP CURRENCY FUTURE 13/03/ JPY 19 P EUR-JPY 13/03/ (290) AUD 17 P AUST 10 YR BONDS FUTURE 15/03/ EUR 61 S EURO STOXX 50 - FUTURE 17/03/ (41 480) EUR 295 P EUR 373 P EURO STOXX 50 DVP (SX5ED) STOXX EUR SMALL 200 IDX FUTURE 21/12/ /03/ Total: As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Diversified Dynamic Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 267 S EURO-BOBL FUTURE 08/03/ ( ) EUR 295 P EURO-BUND FUTURE 08/03/ EUR 301 S EURO-SCHATZ FUTURE 08/03/ (17 920) EUR 408 P EURO-BTP FUTURE 08/03/ JPY 186 P NIKKEI 225 (SGX) 09/03/ USD 318 P DOLLAR INDEX SPOT 13/03/ ( ) USD 405 P S&P 500 E-MINI FUTURE 17/03/ ( ) USD 270 P E-MINI MSCI EMERGING MARKETS INDEX 17/03/ ( ) USD P US 10YR NOTE FUTURE (CBT) 22/03/ ( ) USD P EURO FX CURR FUTURE (CME) 13/03/ AUD 183 P AUST 10 YR BONDS FUTURE 15/03/ EUR 55 P STOXX 600 (SXXP) 17/03/ Total: As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Enhanced Cash 6 Months Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 767 S EURO-BOBL FUTURE 08/03/ ( ) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Equity Europe Value Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 40 P EURO STOXX 50 - FUTURE 17/03/ Total: Page 243

246 Notes to the financial statements at 31/12/2016 As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Equity Germany Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 53 P DAX INDEX - FUTURE 17/03/ Total: As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Flexible Bond Euro Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 169 S EURO-BUND FUTURE 08/03/ ( ) EUR 76 S EURO-BTP FUTURE 08/03/ ( ) EUR 27 S EURO BUXL 30Y BONDS 08/03/ (23 700) EUR 45 S EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% 08/03/ (18 440) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Flexible Bond Europe Corporate Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 534 S EURO-BOBL FUTURE 08/03/ ( ) EUR 46 S EURO-BUND FUTURE 08/03/ ( ) EUR 126 P EURO-SCHATZ FUTURE 08/03/ Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Flexible Equity Europe Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 80 S EURO STOXX 50 - FUTURE 17/03/ (62 810) EUR 179 P STOXX 600 (SXXP) 17/03/ Total: (26 825) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Flexible Multi-Asset Currency Quantity Net unrealised Purchase/ Commitment Description Maturity gain/(loss) Sale (in EUR) (in EUR) EUR 21 S EURO-BTP FUTURE 08/03/ (67 830) EUR 39 P IBEX35 EURO 20/01/ (13 344) USD 31 P US 10YR NOTE FUTURE (CBT) 22/03/ (8 266) EUR 38 S FTSEMIB INDEX - FTSE / MIB INDEX 17/03/ (28 875) Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Page 244

247 Notes to the financial statements at 31/12/2016 Sustainable Bond Euro Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 18 S EURO-BOBL FUTURE 08/03/ (11 700) Total: (11 700) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Sustainable Bond Euro Corporate Currency Quantity Purchase/ Sale Description Maturity Commitment (in EUR) Net unrealised gain/(loss) (in EUR) EUR 350 S EURO-BOBL FUTURE 08/03/ ( ) USD 29 S US 5YR NOTE FUTURE (CBT) 31/03/ EUR 20 S EURO-BTP FUTURE 08/03/ (28 360) EUR 2 P EURO BUXL 30Y BONDS 08/03/ USD 30 S US 10YR NOTE FUTURE (CBT) 22/03/ Total: ( ) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Sustainable Bond World Corporate Currency Quantity Purchase/ Sale Description Maturity Commitment (in USD) Net unrealised gain/(loss) (in USD) EUR 57 S EURO-BOBL FUTURE 08/03/ (75 319) USD 20 P US 5YR NOTE FUTURE (CBT) 31/03/ (6 680) USD 47 P US 2YR NOTE FUTURE (CBT) 31/03/ (4 750) USD 3 P USD 83 S USD 32 P USD 86 S EUR 4 S ULTRA LONG TERM US TREASURY BOND FUTURE US 10YR NOTE FUTURE (CBT) US LONG BOND FUTURE (CBT) ULTRA 10 YEAR US TREASURY NOTE FUTURE EURO OAT FUTURE FRENCH GOVT BONDS 10YR 6% 22/03/ (375) 22/03/ /03/ (32 781) 22/03/ /03/ (7 046) Total: (29 170) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to USD. Brokers for Futures contracts: BNP Paribas Securities Services Newedge Note 12 - Forward foreign exchange contracts As at 31 December 2016, the total amount purchased per and the total amount sold per in the context of forward foreign exchange contracts were as follows: Bond Absolute Return V350 Currency Purchase amount Currency Sale amount AUD AUD BRL BRL CAD CAD CHF CHF CLP CLP Page 245

248 Notes to the financial statements at 31/12/2016 Bond Absolute Return V350 (continued) Currency Purchase amount Currency Sale amount CZK EUR EUR GBP GBP HKD INR HUF JPY INR KRW JPY MXN KRW MYR MXN NOK MYR NZD NOK RUB NZD SEK RUB SGD SEK TRY SGD TWD TRY USD TWD ZAR USD ZAR Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond Absolute Return V700 Currency Purchase amount Currency Sale amount AUD AUD BRL BRL CAD CAD CHF CHF CLP CLP CZK CZK EUR EUR GBP GBP INR HKD JPY HUF KRW INR MXN JPY MYR KRW NOK MXN NZD MYR RUB NOK SEK NZD SGD RUB TRY SEK TWD SGD USD TRY ZAR TWD USD ZAR Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Page 246

249 Notes to the financial statements at 31/12/2016 Bond Asia ex-japan Currency Purchase amount Currency Sale amount AUD AUD EUR EUR SGD USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond Best Selection World Emerging Currency Purchase amount Currency Sale amount ARS ARS BRL BRL CLP CLP CNH CNH CNY CNY COP COP CZK CZK EGP EGP EUR EUR HUF GBP IDR HUF INR IDR MXN ILS MYR INR NGN MXN PEN MYR PHP NGN PLN PEN RON PHP RUB PLN THB RON TRY RUB UGX THB USD TRY ZAR USD ZAR Net unrealised loss (in USD) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 6 September Bond Euro Corporate Currency Purchase amount Currency Sale amount CZK EUR EUR USD Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond Euro High Yield Currency Purchase amount Currency Sale amount EUR EUR NOK GBP USD USD Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Page 247

250 Notes to the financial statements at 31/12/2016 Bond Europe Emerging Currency Purchase amount Currency Sale amount CZK CZK EUR EUR HUF HUF PLN PLN RON RON RUB RUB TRY TRY USD USD Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 22 February Bond USA High Yield Currency Purchase amount Currency Sale amount AUD AUD EUR USD USD Net unrealised loss (in USD) (5 157) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond USD Currency Purchase amount Currency Sale amount AUD AUD EUR CAD GBP EUR MXN GBP NOK MXN SGD NOK USD SGD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 19 January Bond USD Short Duration Currency Purchase amount Currency Sale amount EUR USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond World Currency Purchase amount Currency Sale amount AUD AUD BRL BRL CAD CAD CHF CHF CLP CLP CZK EUR DKK GBP EUR HKD GBP HUF ILS INR INR JPY JPY KRW KRW MXN MXN NOK MYR NZD Page 248

251 Notes to the financial statements at 31/12/2016 Bond World (continued) Currency Purchase amount Currency Sale amount NOK RUB NZD SEK PLN SGD RUB TRY SEK USD SGD THB TRY USD ZAR Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 19 January Bond World Emerging Currency Purchase amount Currency Sale amount AUD AUD EUR EUR USD GBP USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond World Emerging Local Currency Purchase amount Currency Sale amount ARS ARS BRL BRL CLP CLP CNH CNH CNY CNY COP COP CZK CZK EGP EGP EUR EUR HUF HUF IDR IDR INR ILS MXN INR MYR MXN NGN MYR PEN NGN PHP PEN PLN PHP RON PLN RUB RON THB RUB TRY THB UGX TRY USD USD ZAR ZAR Net unrealised loss (in USD) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 6 September Page 249

252 Notes to the financial statements at 31/12/2016 Bond World High Yield Currency Purchase amount Currency Sale amount AUD AUD CZK EUR EUR GBP USD USD Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond World High Yield Short Duration Currency Purchase amount Currency Sale amount EUR EUR USD GBP USD Net unrealised loss (in USD) (1 232) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Bond World Income Currency Purchase amount Currency Sale amount EUR EUR USD USD Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 31 January Bond World Inflation-Linked Currency Purchase amount Currency Sale amount AUD AUD CAD CAD EUR DKK GBP EUR USD GBP JPY NZD SEK USD Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Commodities Currency Purchase amount Currency Sale amount CZK CZK EUR EUR USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Convertible Bond Asia Currency Purchase amount Currency Sale amount USD CNY JPY THB Net unrealised loss (in USD) (7 583) As at 31 December 2016, the latest maturity of all outstanding contracts is 19 January Page 250

253 Notes to the financial statements at 31/12/2016 Convertible Bond Europe Currency Purchase amount Currency Sale amount EUR CHF USD EUR GBP SEK USD Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 19 January Convertible Bond Europe Small Cap Currency Purchase amount Currency Sale amount EUR EUR USD GBP Net unrealised loss (in EUR) (57 419) As at 31 December 2016, the latest maturity of all outstanding contracts is 19 January Convertible Bond World Currency Purchase amount Currency Sale amount CHF CHF CZK CNH EUR CZK GBP EUR HKD GBP JPY HKD NOK HUF PLN JPY SGD SGD USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Cross Asset Absolute Return Currency Purchase amount Currency Sale amount AUD AUD CHF CHF EUR EUR JPY GBP PLN JPY SGD KRW TRY MYR USD NZD PLN SGD TRY USD ZAR Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Diversified Dynamic Currency Purchase amount Currency Sale amount USD EUR Net unrealised loss (in EUR) (219) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Page 251

254 Notes to the financial statements at 31/12/2016 Enhanced Cash 6 Months Currency Purchase amount Currency Sale amount EUR AUD JPY Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 8 February Equity Best Selection Asia ex-japan Currency Purchase amount Currency Sale amount AUD AUD EUR EUR SGD SGD USD USD Net unrealised loss (in EUR) (1 083) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Best Selection Euro Currency Purchase amount Currency Sale amount CZK EUR HUF SGD USD Net unrealised loss (in EUR) (89 683) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Best Selection Europe Currency Purchase amount Currency Sale amount HUF EUR Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Best Selection World Currency Purchase amount Currency Sale amount NOK NOK USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Europe Growth Currency Purchase amount Currency Sale amount SGD EUR USD Net unrealised loss (in EUR) (55 200) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Europe Small Cap Currency Purchase amount Currency Sale amount SGD EUR USD Net unrealised loss (in EUR) (80 777) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Europe Value Currency Purchase amount Currency Sale amount GBP EUR Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Page 252

255 Notes to the financial statements at 31/12/2016 Equity High Dividend USA Currency Purchase amount Currency Sale amount EUR EUR USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Japan Currency Purchase amount Currency Sale amount EUR EUR JPY JPY USD USD Net unrealised loss (in JPY) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Japan Small Cap Currency Purchase amount Currency Sale amount EUR EUR JPY JPY USD Net unrealised loss (in JPY) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity Nordic Small Cap Currency Purchase amount Currency Sale amount EUR DKK NOK EUR NOK SEK Net unrealised loss (in EUR) (49 168) As at 31 December 2016, the latest maturity of all outstanding contracts is 19 January Equity USA Currency Purchase amount Currency Sale amount EUR EUR USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity USA Growth Currency Purchase amount Currency Sale amount CZK USD EUR Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity USA Mid Cap Currency Purchase amount Currency Sale amount EUR EUR SGD USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Page 253

256 Notes to the financial statements at 31/12/2016 Equity USA Small Cap Currency Purchase amount Currency Sale amount EUR USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity USA Value Currency Purchase amount Currency Sale amount EUR EUR GBP 765 USD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Equity World Consumer Durables Currency Purchase amount Currency Sale amount EUR USD Net unrealised loss (in EUR) (3 365) As at 31 December 2016, the latest maturity of all outstanding contracts is 4 January Equity World Emerging Currency Purchase amount Currency Sale amount HKD USD ZAR Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 4 January Equity World Energy Currency Purchase amount Currency Sale amount CAD EUR GBP USD Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 4 January Equity World Health Care Currency Purchase amount Currency Sale amount EUR CHF GBP EUR USD USD Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 4 January Flexible Bond Euro Currency Purchase amount Currency Sale amount CAD AUD EUR CHF JPY EUR NOK GBP USD NZD SEK Net unrealised loss (in EUR) (19 551) As at 31 December 2016, the latest maturity of all outstanding contracts is 5 January Page 254

257 Notes to the financial statements at 31/12/2016 Flexible Equity Europe Currency Purchase amount Currency Sale amount EUR CHF DKK GBP NOK SEK Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 19 January Flexible Multi-Asset Currency Purchase amount Currency Sale amount CZK EUR EUR GBP GBP TWD SEK USD USD Net unrealised loss (in EUR) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 8 March Multi-Asset Income Emerging Currency Purchase amount Currency Sale amount AUD EUR CLP MXN CNH TWD MXN USD PEN SGD USD Net unrealised gain (in USD) As at 31 December 2016, the latest maturity of all outstanding contracts is 8 March Sustainable Bond Euro Corporate Currency Purchase amount Currency Sale amount CHF EUR EUR USD Net unrealised gain (in EUR) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Sustainable Bond World Corporate Currency Purchase amount Currency Sale amount EUR EUR USD USD Net unrealised loss (in USD) ( ) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Sustainable Equity High Dividend Europe Currency Purchase amount Currency Sale amount USD EUR Net unrealised loss (in EUR) (10 753) As at 31 December 2016, the latest maturity of all outstanding contracts is 20 January Counterparties to Forward foreign exchange contracts: Barclays Bank Plc Wholesale London BNP Paribas Paris BNP Paribas Securities Services Citibank N.A London Page 255

258 Notes to the financial statements at 31/12/2016 Citigroup Global Market Crédit Suisse Crédit Suisse First Boston Deutsche Bank Deutsche Bank AG Deutsche Bank London Goldman Sachs International London HSBC Bank Plc JP Morgan Secs Ltd Merrill Lynch UK Morgan Stanley And Co. International Royal Bank of Canada Société Générale Standard Chartered Bank State Street Boston FX UBS Ltd London Note 13 - Swaps Credit Default Swaps The Company has entered into credit default swaps agreements whereby it exchanges fixed income for income linked to changes in credit events, whether with respect to an index or a bond (see details in the tables below), and vice versa. These amounts are calculated and recognised at each calculation of the Net Asset Value; the amount of the unrealised capital gain is stated under Net Unrealised gain on financial instruments in the Statement of net, and the amount of net unrealised capital loss is given under Net Unrealised loss on financial instruments in the Statement of net. Bond Absolute Return V350 Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/03/ % PRUDENTIAL FIN 4.5% 03-15/07/ USD 20/03/2017 METLIFE INC 5% 05-15/06/ % USD 20/06/ % FORD MOTOR CRED 5% 11-15/05/ USD 20/06/2017 FORD MOTOR CO 6.5% 98-01/08/ % USD 20/12/2017 METLIFE INC 4.75% 10-08/02/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/ EUR 20/12/2021 MARKIT ITRAXX EUR SNR FIN S26 20/12/ % USD 17/10/ % CMBX AAA CDSI S8 PRC 17/10/ USD 17/10/2057 CMBX AA CDSI S8 PRC CORP 17/10/ % USD 17/10/2057 CMBX AA CDSI S8 PRC CORP 17/10/ % Page 256

259 Notes to the financial statements at 31/12/2016 Bond Absolute Return V350 (continued) Nominal Currency Maturity Sub-fund paid Sub-fund received USD 17/10/ % CMBX AAA CDSI S8 PRC 17/10/ USD 11/05/ % CMBX NA BBB CDSI S6 PRC 11/05/2063 Net unrealised gain (in EUR) Bond Absolute Return V700 Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/06/ % FORD MOTOR CRED 5% 11-15/05/ USD 20/06/2017 FORD MOTOR CO 6.5% 98-01/08/ % USD 20/12/2017 METLIFE INC 4.75% 10-08/02/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/ EUR 20/12/2021 MARKIT ITRAXX EUR SNR FIN S26 20/12/ % USD 17/10/2057 CMBX AA CDSI S8 PRC CORP 17/10/ % USD 17/10/ % CMBX AAA CDSI S8 PRC 17/10/ USD 17/10/2057 CMBX AA CDSI S8 PRC CORP 17/10/ % USD 17/10/ % CMBX AAA CDSI S8 PRC 17/10/ USD 11/05/ % CMBX NA BBB CDSI S6 PRC 11/05/ USD 11/05/ % CMBX NA BBB CDSI S6 PRC 11/05/2063 Net unrealised gain (in EUR) Bond Asia ex-japan Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/12/ % ITRX EXJP IG CDSI S26 5Y CORP 20/12/2021 Net unrealised gain (in USD) Bond Best Selection World Emerging Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/06/ % KAZAKHSTAN 3.875% 14-14/10/ USD 20/06/2021 ROMANIA 6.5% 08-18/06/ % USD 20/06/2021 ROMANIA 6.5% 08-18/06/ % USD 20/12/2021 PHILIPPINES (REP) % 00-16/03/ % USD 20/12/ % TURKEY REP OF % 00-15/01/2030 Page 257

260 Notes to the financial statements at 31/12/2016 Bond Best Selection World Emerging (continued) Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/12/ % CDX EM CDSI S26 5Y PRC V1 20/12/ USD 20/12/2021 PENERBANGAN MALA 5.625% 06-15/03/ % USD 20/12/2021 PENERBANGAN MALA 5.625% 06-15/03/ % Net unrealised gain (in USD) Bond Euro Corporate Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/06/2021 VINCI SA 3.375% 12-30/03/ % EUR 20/06/2021 SHELL INTL FIN 5.2% 07-22/03/ % EUR 20/06/2021 SHELL INTL FIN 5.2% 07-22/03/ % EUR 20/12/2021 KPN NV 7.5% 09-20/09/ % EUR 20/12/2021 BASF SE 1.375% 14-22/01/ % EUR 20/12/2021 BAYER AG 5.625% 06-23/05/ % EUR 20/12/2021 TELEFONICA EMIS 2.736% 13-29/05/ % EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/2021 Net unrealised loss (in EUR) ( ) Bond Euro High Yield Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/12/2021 ANGLO AMERICAN 4.45% 10-27/09/ % EUR 20/12/2021 CASINO GUICHARD 3.157% 12-06/08/ % EUR 20/12/2021 CASINO GUICHARD 3.157% 12-06/08/ % EUR 20/12/2021 ARCELORMITTAL 6.125% 08-01/06/ % Net unrealised gain (in EUR) Bond Euro Short Term Corporate Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/03/2019 AXA SA 4.5% 09-23/01/ % EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/2021 Net unrealised loss (in EUR) (9 441) Bond USA High Yield Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/12/2021 CDX HY CDSI S27 5Y PRC CORP 20/12/ % USD 20/12/2021 CDX HY CDSI S27 5Y PRC CORP 20/12/ % Net unrealised gain (in USD) Page 258

261 Notes to the financial statements at 31/12/2016 Bond USD Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/03/ % PRUDENTIAL FIN 4.5% 03-15/07/ USD 20/03/2017 METLIFE INC 5% 05-15/06/ % USD 20/06/2017 FORD MOTOR CO 6.5% 98-01/08/ % USD 20/06/ % FORD MOTOR CRED 5% 11-15/05/ USD 20/12/2017 METLIFE INC 4.75% 10-08/02/ % EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/ EUR 20/12/2021 MARKIT ITRAXX EUR SNR FIN S26 20/12/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % Net unrealised gain (in USD) Bond World Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/03/ % PRUDENTIAL FIN 4.5% 03-15/07/ USD 20/03/2017 METLIFE INC 5% 05-15/06/ % USD 20/06/ % FORD MOTOR CRED 5% 11-15/05/ USD 20/06/2017 FORD MOTOR CO 6.5% 98-01/08/ % USD 20/12/2017 METLIFE INC 4.75% 10-08/02/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % EUR 20/12/2021 ITRX XOVER CDSI S26 5Y V1 20/12/ % EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/ EUR 20/12/2021 MARKIT ITRAXX EUR SNR FIN S26 20/12/ % Net unrealised gain (in EUR) Bond World Emerging Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/06/ % KAZAKHSTAN 3.875% 14-14/10/ USD 20/12/ % CDX EM CDSI S26 5Y PRC V1 20/12/ USD 20/12/2021 PENERBANGAN MALA 5.625% 06-15/03/ % USD 20/12/2021 PENERBANGAN MALA 5.625% 06-15/03/ % USD 20/12/2021 REPUBLIC OF PERU 8.75% 03-21/11/ % Net unrealised gain (in USD) Page 259

262 Notes to the financial statements at 31/12/2016 Bond World High Yield Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/12/2021 CDX HY CDSI S27 5Y PRC CORP 20/12/ % Net unrealised gain (in EUR) Bond World Income Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/12/ % ITRX XOVER CDSI S26 5Y V1 20/12/ EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/ EUR 20/12/ % ITRX XOVER CDSI S26 5Y V1 20/12/ USD 20/12/ % CDX HY CDSI S27 5Y PRC CORP 20/12/ USD 20/12/ % CDX IG CDSI S27 5Y V1 20/12/2021 Net unrealised loss (in EUR) ( ) Enhanced Cash 6 Months Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/12/ % PEUGEOT 7.375% 13-06/03/ EUR 20/12/2020 FIAT FINANCE NA 5.625% 07-12/06/ % EUR 20/12/ % ITRX XOVER CDSI S26 5Y V1 20/12/2021 Net unrealised loss (in EUR) ( ) Flexible Bond Europe Corporate Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/06/2018 ITRX EUR CDSI S19 5Y V1 20/06/ BP 1.000% Net unrealised gain (in EUR) Flexible Multi-Asset Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/06/ % ITRX EUR CDSI S25 5Y V1 20/06/ USD 20/06/ % CDX HY CDSI S26 5Y V1 PRC 20/06/ USD 20/06/2021 CDX IG CDSI S26 5Y V1 20/06/ % Net unrealised loss (in EUR) ( ) Sustainable Bond Euro Corporate Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/06/ % GAS NATURAL QSP 4.5% 10-27/01/ EUR 20/06/ % TELEFONICA EMIS 2.736% 13-29/05/ EUR 20/06/ % IBERDROLA INTL 2.875% 13-11/11/ EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/2021 Net unrealised loss (in EUR) ( ) Page 260

263 Notes to the financial statements at 31/12/2016 Sustainable Bond World Corporate Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/12/ % ITRX EUR CDSI S26 5Y V1 20/12/2021 Net unrealised loss (in USD) ( ) Interest Rate Swaps The Company has entered into interest rate swaps agreements whereby it exchanges fixed income (sum of the notional amount and the fixed rate) for variable income (sum of the notional amount and the floating rate) and vice versa. These amounts are calculated and recognised at each calculation of the Net Asset Value; the receivable amount is stated under Other in the Statement of net, while the payable amount is given under Other liabilities in the Statement of net. Bond Absolute Return V350 Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/ % LIBOR 3 M USD EUR 20/01/ % EURIBOR 6 M USD 20/03/ % LIBOR 3 M USD AUD 05/12/2019 AUSTRALIAN BK BILL ST 3 M 2.417% JPY 01/07/2021 LIBOR 6 M JPY (0.156%) USD 25/11/2021 LIBOR 3 M USD 2.239% SEK 13/12/ % STOCKHOLM INTERBK OFFER RATE 3 M USD 20/03/ % LIBOR 3 M USD EUR 21/01/2024 EURIBOR 6 M 1.017% GBP 16/03/2024 ICE LIBOR GBP 6 M 1.805% EUR 26/02/2026 EURIBOR 6 M 1.061% EUR 05/08/2026 EURIBOR 6 M 0.774% USD 23/11/ % LIBOR 3 M USD USD 06/12/ % LIBOR 3 M USD SEK 13/12/2026 STOCKHOLM INTERBK OFFER RATE 3 M 1.116% EUR 05/07/2032 EURIBOR 6 M 2.770% EUR 05/07/ % EURIBOR 6 M EUR 28/02/ % EURIBOR 6 M GBP 17/03/ % ICE LIBOR GBP 6 M JPY 01/07/ % LIBOR 6 M JPY USD 26/01/ % LIBOR 3 M USD Net unrealised gain (in EUR) Bond Absolute Return V700 Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/ % LIBOR 3 M USD EUR 20/01/ % EURIBOR 6 M USD 20/03/ % LIBOR 3 M USD EUR 18/04/2019 (0.121%) EURIBOR 6 M EUR 02/05/2019 (0.083%) EURIBOR 6 M AUD 05/12/2019 AUSTRALIAN BK BILL ST 3 M 2.417% JPY 01/07/2021 LIBOR 6 M JPY (0.156%) USD 25/11/2021 LIBOR 3 M USD 2.239% SEK 13/12/ % STOCKHOLM INTERBK OFFER RATE 3 M Page 261

264 Notes to the financial statements at 31/12/2016 Bond Absolute Return V700 (continued) Nominal Currency Maturity Sub-fund paid Sub-fund received USD 20/03/ % LIBOR 3 M USD EUR 21/01/2024 EURIBOR 6 M 1.017% GBP 16/03/2024 ICE LIBOR GBP 6 M 1.805% EUR 15/04/2024 EURIBOR 6 M 0.613% GBP 27/04/2024 ICE LIBOR GBP 6 M 1.955% EUR 29/04/2024 EURIBOR 6 M 0.767% MXN 06/05/2025 MEXICO MXI TIIE 28 D 6.235% EUR 26/02/2026 EURIBOR 6 M 1.061% EUR 29/04/2026 EURIBOR 6 M 1.277% EUR 05/08/2026 EURIBOR 6 M 0.774% USD 23/11/ % LIBOR 3 M USD USD 06/12/ % LIBOR 3 M USD SEK 13/12/2026 STOCKHOLM INTERBK OFFER RATE 3 M 1.116% EUR 05/07/2032 EURIBOR 6 M 2.770% EUR 05/07/ % EURIBOR 6 M EUR 28/02/ % EURIBOR 6 M GBP 17/03/ % ICE LIBOR GBP 6 M GBP 28/04/ % ICE LIBOR GBP 6 M EUR 29/04/ % EURIBOR 6 M JPY 01/07/ % LIBOR 6 M JPY USD 26/01/ % LIBOR 3 M USD Net unrealised loss (in EUR) (15 130) Bond Best Selection World Emerging Nominal Currency Maturity Sub-fund paid Sub-fund received PLN 20/09/2018 WARSAW INTERBK OFFER RATE 6 M 1.742% BRL 02/01/2019 BRAZIL INTERBANK 1 D % BRL 04/01/2021 BRAZIL INTERBANK 1 D % ZAR 21/09/2021 JIBA1M JIBAR 3 M 7.700% MXN 01/11/2021 MEXICO MXI TIIE 28 D 6.165% PLN 09/12/ % WARSAW INTERBK OFFER RATE 6 M MYR 16/12/2021 MALAYSIA IBOR 3 M 4.140% ILS 30/12/ % TELBOR 3 M ILS MXN 09/06/2036 MEXICO MXI TIIE 28 D 6.620% Net unrealised loss (in USD) ( ) Bond Europe Emerging Nominal Currency Maturity Sub-fund paid Sub-fund received PLN 09/12/ % WARSAW INTERBK OFFER RATE 6 M Net unrealised loss (in EUR) (983) Bond USD Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/ % LIBOR 3 M USD EUR 20/01/ % EURIBOR 6 M AUD 05/12/2019 AUSTRALIAN BK BILL ST 3 M 2.417% JPY 01/07/2021 LIBOR 6 M JPY (0.156%) Page 262

265 Notes to the financial statements at 31/12/2016 Bond USD (continued) Nominal Currency Maturity Sub-fund paid Sub-fund received USD 25/11/2021 LIBOR 3 M USD 2.239% EUR 21/01/2024 EURIBOR 6 M 1.017% GBP 16/03/2024 ICE LIBOR GBP 6 M 1.805% MXN 06/05/2025 MEXICO MXI TIIE 28 D 6.235% EUR 26/02/2026 EURIBOR 6 M 1.061% EUR 05/08/2026 EURIBOR 6 M 0.774% USD 23/11/ % LIBOR 3 M USD USD 06/12/ % LIBOR 3 M USD EUR 28/02/ % EURIBOR 6 M GBP 17/03/ % ICE LIBOR GBP 6 M JPY 01/07/ % LIBOR 6 M JPY USD 26/01/ % LIBOR 3 M USD Net unrealised gain (in USD) Bond World Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/ % LIBOR 3 M USD EUR 20/01/ % EURIBOR 6 M JPY 15/10/2019 LIBOR 6 M JPY 0.243% AUD 05/12/2019 AUSTRALIAN BK BILL ST 3 M 2.417% SGD 12/05/2020 SGD SWAP 6 M 2.100% JPY 01/07/2021 LIBOR 6 M JPY (0.156%) USD 25/11/2021 LIBOR 3 M USD 2.239% SEK 13/12/ % STOCKHOLM INTERBK OFFER RATE 3 M EUR 21/01/2024 EURIBOR 6 M 1.017% GBP 16/03/2024 ICE LIBOR GBP 6 M 1.805% EUR 26/02/2026 EURIBOR 6 M 1.061% EUR 05/08/2026 EURIBOR 6 M 0.774% USD 23/11/ % LIBOR 3 M USD USD 06/12/ % LIBOR 3 M USD SEK 13/12/2026 STOCKHOLM INTERBK OFFER RATE 3 M 1.116% EUR 05/07/2032 EURIBOR 6 M 360 DAYS 2.770% JPY 11/10/2032 LIBOR 6 M JPY 1.531% JPY 15/10/2034 LIBOR 6 M JPY 1.398% EUR 05/07/ % EURIBOR 6 M 360 DAYS EUR 28/02/ % EURIBOR 6 M GBP 17/03/ % ICE LIBOR GBP 6 M JPY 01/07/ % LIBOR 6 M JPY USD 26/01/ % LIBOR 3 M USD Net unrealised gain (in EUR) Bond World Emerging Local Nominal Currency Maturity Sub-fund paid Sub-fund received PLN 20/09/2018 WARSAW INTERBK OFFER RATE 6 M 1.742% BRL 02/01/2019 BRAZIL INTERBANK 1 D % INR 08/12/2019 NSE INTERBANK OFFER RATE 6.970% Page 263

266 Notes to the financial statements at 31/12/2016 Bond World Emerging Local (continued) Nominal Currency Maturity Sub-fund paid Sub-fund received PLN 09/12/ % WARSAW INTERBK OFFER RATE 6 M MYR 16/12/2021 MALAYSIA IBOR 3 M 4.140% ILS 30/12/ % TELBOR 3 M ILS MXN 09/06/2036 MEXICO MXI TIIE 28 D 6.620% Net unrealised loss (in USD) ( ) Bond World Income Nominal Currency Maturity Sub-fund paid Sub-fund received SEK 17/05/ % STOCKHOLM INTERBK OFFER RATE 3 M SEK 27/05/ % STOCKHOLM INTERBK OFFER RATE 3 M SEK 26/06/ % STOCKHOLM INTERBK OFFER RATE 3 M SEK 17/05/2025 STOCKHOLM INTERBK OFFER RATE 3 M 2.037% SEK 23/06/2025 STOCKHOLM INTERBK OFFER RATE 3 M 1.957% USD 31/05/ % FEDERAL FUNDS EFFECTIVE USD 01/09/ % FEDERAL FUNDS EFFECTIVE Net unrealised gain (in EUR) Flexible Bond Europe Corporate Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/03/ % EURIBOR 6 M Net unrealised loss (in EUR) ( ) Money Market Euro Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 20/10/2017 (0.338%) TAUX EONIA OIS Net unrealised loss (in EUR) (1 216) Inflation Swaps The Company has entered into inflation swaps agreements whereby it exchanges fixed income (sum of the notional amount and the fixed rate) for variable income (sum of the notional amount and the floating rate) and vice versa. These amounts are calculated and recognised at each calculation of the Net Asset Value; the receivable amount is stated under Other in the Statement of net, while the payable amount is given under Other liabilities in the Statement of net. Bond Absolute Return V350 Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/2018 US CPI URBAN CONSUMERS NSA 1.150% USD 01/04/ % US CPI URBAN CONSUMERS NSA GBP 20/04/2026 UK RPI NSA 2.960% GBP 02/12/2046 UK RPI NSA 3.492% USD 05/12/ % US CPI URBAN CONSUMERS NSA Net unrealised loss (in EUR) ( ) Page 264

267 Notes to the financial statements at 31/12/2016 Bond Absolute Return V700 Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/ % US CPI URBAN CONSUMERS NSA USD 28/01/ % US CPI URBAN CONSUMERS NSA USD 01/04/ % US CPI URBAN CONSUMERS NSA GBP 20/04/2026 UK RPI NSA 2.960% GBP 26/04/2026 UK RPI NSA 2.975% USD 29/04/ % US CPI URBAN CONSUMERS NSA USD 17/02/ % US CPI URBAN CONSUMERS NSA GBP 02/12/2046 UK RPI NSA 3.492% USD 05/12/ % US CPI URBAN CONSUMERS NSA Net unrealised loss (in EUR) (30 022) Bond Euro Inflation-Linked Nominal Currency Maturity Sub-fund paid Sub-fund received EUR 22/12/ % EUROSTAT EUROZONE HICP EX TOBACCO EUR 25/02/ % EUROSTAT EUROZONE HICP EX TOBACCO EUR 06/03/ % EUROSTAT EUROZONE HICP EX TOBACCO USD 16/11/ % US CPI URBAN CONSUMERS NSA EUR 29/12/2026 EUROSTAT EUROZONE HICP EX TOBACCO 1.447% Net unrealised loss (in EUR) (3 362) Bond USD Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/2018 US CPI URBAN CONSUMERS NSA 1.150% USD 01/04/ % US CPI URBAN CONSUMERS NSA GBP 20/04/2026 UK RPI NSA 2.960% GBP 02/12/2046 UK RPI NSA 3.492% USD 05/12/ % US CPI URBAN CONSUMERS NSA Net unrealised loss (in USD) (95 863) Bond World Nominal Currency Maturity Sub-fund paid Sub-fund received USD 26/01/2018 US CPI URBAN CONSUMERS NSA 1.150% USD 01/04/ % US CPI URBAN CONSUMERS NSA GBP 20/04/2026 UK RPI NSA 2.960% GBP 02/12/2046 UK RPI NSA 3.492% USD 05/12/ % US CPI URBAN CONSUMERS NSA Net unrealised loss (in EUR) (71 950) Total Return Swaps A Total Return Swap (TRS) is an agreement to exchange the total performance of a bond or other underlying asset (share, index, etc.) for a benchmark rate plus a spread. The total performance includes the interest coupons, dividends and profits and losses on the underlying asset over the life of the agreement, depending on the type of underlying concerned. The risk in this type of agreement is linked to the fact that the benefit for each counterparty will depend on how the underlying asset performs over time, which is unknown at the time at which the agreement is entered into. Page 265

268 Notes to the financial statements at 31/12/2016 Bond Euro High Yield Nominal % Of engaged Counterparty Currency Maturity Sub-fund paid Sub-fund received % JP MORGAN LONDON, UNITED KINGDOM EUR 20/03/2017 EURIBOR 3 M 360 DAYS IBOXX EUR LIQUID HIGH YIELD INDEX GOLDMAN SACHS % INTERNATIONAL LONDON, UNITED KINGDOM EUR 20/03/2017 EURIBOR 3 M 360 DAYS IBOXX EUR LIQUID HIGH YIELD INDEX Net unrealised gain (in EUR) Commodities Nominal % Of engaged Counterparty Currency Maturity Sub-fund paid Sub-fund received % CITIGROUP GLOBAL MARKET, UNITED KINGDOM USD 23/02/ % CITI COMMODITIES DYNAMIC BACKWARDATION EX AGS & LIVESTOCKCAPPED % CREDIT SUISSE INTERNATIONAL, UNITED KINGDOM USD 23/02/ % CS CUSTOM D50 INDEX EXCESS RETURN % GOLDMAN SACHS INTERNATIONAL LONDON, UNITED KINGDOM USD 15/11/ % BLOOMBERG COMMODITY EX- AGRICULTURE AND LIVESTOCK CAPPED INDEX % BNP PARIBAS PARIS, FRANCE USD 15/11/ % BNP PARIBAS STRATEGY C52 COMMODITY INDEX % SOCIETE GENERALE PARIS, FRANCE USD 15/11/ % BLOOMBERG COMMODITY EX- AGRICULTURE AND LIVESTOCK CAPPED INDEX Net unrealised gain (in USD) Cross Asset Absolute Return Nominal % Of engaged Counterparty Currency Maturity Sub-fund paid Sub-fund received % JP MORGAN LONDON, UNITED KINGDOM EUR 19/09/ % MSCI DAILY NET TR EUROPE INDEX & MSCI EUROPE EQUAL WEIGHTED BUYBACK YIELD NET RETURN EUR INDEX Net unrealised loss (in EUR) Step 90 Euro Nominal % Of engaged Counterparty Currency Maturity Sub-fund paid Sub-fund received (98 102) % BNP PARIBAS PARIS, FRANCE EUR 26/06/2017 PERFORMANCE OF BASKET SHARES* EURIBOR 3 M % Net unrealised loss (in EUR) ( ) Page 266

269 Notes to the financial statements at 31/12/2016 (*) The basket of shares consists of the following: Airbus Group SE Deutsche Bank AG - Reg Sanofi Aventis Allianz SE - Reg Deutsche Post AG - Reg SAP SE Akzo Nobel Deutsche Telekom AG - Reg Siemens AG - Reg AXA SA Engie Société Générale SA Banco Santander SA Fresenius SE & CO KGAA Total SA BASF SE ING Groep NV - CVA Veolia Environnement Bayer AG - Reg Muenchener Rueckver AG - Reg Vinci SA Credit Agricole SA Orange Daimler AG-Registered Shares Nokia Oyj Counterparties to Swaps contracts: Barclays Bank London, United Kingdom BNP Paribas London Branch, United Kingdom BNP Paribas Paris, France Calyon, France Citigroup Global Market, United Kingdom Crédit Suisse International, United Kingdom Deutsche Bank, Germany Deutsche Bank AG, Germany Goldman Sachs International London, United Kingdom JP Morgan London, United Kingdom Morgan Stanley & Co International Plc, United Kingdom Morgan Stanley Secs Ltd, United Kingdom Nomura International Plc, United Kingdom Société Générale Paris, France UBS Warburg London, United Kingdom Note all TRS are settled on a bilateral mode. Note 14 - Options positions For options contracts with the same Description, Currency, Maturity Date, Strike and Counterparty, the positions are consolidated. In this context, the options quantities can be 0. As at 31 December 2016, the following positions on options were outstanding: Bond Absolute Return V350 Currency Quantity Purchase/ Sale EUR P EUR 232 P USD P USD 60 P USD 60 P USD 16 P Description Maturity date Strike CALL USD/EUR 08/03/ CALL EURO-BUND FUTURE 24/02/ PUT USD/JPY 31/01/ CALL US 10YR NOTE FUTURE (CBT) 27/01/ CALL US 10YR NOTE FUTURE (CBT) 27/01/ CALL US LONG BOND FUTURE (CBT) 27/01/ Exposure/ Commitment (in EUR) (in EUR) 08/03/ /02/ /01/ /01/ /01/ /01/ Page 267

270 Notes to the financial statements at 31/12/2016 Bond Absolute Return V350 (continued) Currency Quantity Purchase/ Sale USD 16 P USD 979 P USD 60 P USD 60 P USD 16 P USD 16 P USD 200 P Description Maturity date Strike CALL US LONG BOND FUTURE (CBT) 27/01/ PUT EURO$ 1 YEAR MID CUR 16/06/ CALL US 10YR NOTE FUTURE (CBT) 24/02/ CALL US 10YR NOTE FUTURE (CBT) 24/02/ CALL US LONG BOND FUTURE (CBT) 24/02/ CALL US LONG BOND FUTURE (CBT) 24/02/ CALL US 5YR NOTE FUTURE 24/02/ Exposure/ Commitment (in EUR) (in EUR) 27/01/ /06/ /02/ /02/ /02/ /02/ /02/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Absolute Return V700 Currency Quantity Purchase/ Sale EUR P EUR 130 P USD P USD 16 P USD 16 P USD 6 P USD 6 P USD 536 P Description Maturity date Strike CALL USD/EUR 08/03/ CALL EURO-BUND FUTURE 24/02/ PUT USD/JPY 31/01/ CALL US 10YR NOTE FUTURE (CBT) 27/01/ CALL US 10YR NOTE FUTURE (CBT) 27/01/ CALL US LONG BOND FUTURE (CBT) 27/01/ CALL US LONG BOND FUTURE (CBT) 27/01/ PUT EURO$ 1 YEAR MID CUR 16/06/ Exposure/ Commitment (in EUR) Total: (in EUR) 08/03/ /02/ /01/ /01/ /01/ /01/ /01/ /06/ Page 268

271 Notes to the financial statements at 31/12/2016 Bond Absolute Return V700 (continued) Currency Quantity Purchase/ Sale USD 16 P USD 16 P USD 6 P USD 6 P USD 115 P Description Maturity date Strike CALL US 10YR NOTE FUTURE (CBT) 24/02/ CALL US 10YR NOTE FUTURE (CBT) 24/02/ CALL US LONG BOND FUTURE (CBT) 24/02/ CALL US LONG BOND FUTURE (CBT) 24/02/ CALL US 5YR NOTE FUTURE 24/02/ Exposure/ Commitment (in EUR) (in EUR) 24/02/ /02/ /02/ /02/ /02/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Currency Quantity Purchase/ Sale EUR 668 P Description Maturity date Strike PUT EURO-BUND FUTURE 27/01/ Exposure/ Commitment (in EUR) Total: (in EUR) 27/01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Government Currency Quantity Purchase/ Sale EUR 891 P Description Maturity date Strike PUT EURO-BUND FUTURE 27/01/ Exposure/ Commitment (in EUR) Total: (in EUR) 27/01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Inflation-Linked Currency Quantity Purchase/ Sale EUR 68 P USD 33 P Description Maturity date Strike PUT EURO-BUND FUTURE 27/01/ PUT US 10YR NOTE FUTURE (CBT) 27/01/ Exposure/ Commitment (in EUR) Total: (in EUR) 27/01/ /01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Total: Page 269

272 Notes to the financial statements at 31/12/2016 Bond Euro Long Term Currency Quantity Purchase/ Sale EUR 42 P Description Maturity date Strike PUT EURO-BUND FUTURE 27/01/ Exposure/ Commitment (in EUR) (in EUR) 27/01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond Euro Medium Term Currency Quantity Purchase/ Sale EUR 321 P Description Maturity date Strike PUT EURO-BUND FUTURE 27/01/ Exposure/ Commitment (in EUR) Total: (in EUR) 27/01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Bond USD Currency Quantity Purchase/ Sale EUR 31 P USD 265 P USD 50 P Description Maturity date Strike CALL EURO-BUND FUTURE 24/02/ PUT EURO$ 1 YEAR MID CUR 16/06/ CALL US 5YR NOTE FUTURE 24/02/ Exposure/ Commitment (in USD) Total: (in USD) 24/02/ /06/ /02/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to USD. Bond World Currency Quantity Purchase/ Sale EUR 30 P USD 126 P USD 60 P Description Maturity date Strike CALL EURO-BUND FUTURE 24/02/ PUT EURO$ 1 YEAR MID CUR 16/06/ CALL US 5YR NOTE FUTURE 24/02/ Exposure/ Commitment (in EUR) Total: (in EUR) 24/02/ /06/ /02/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Total: Page 270

273 Notes to the financial statements at 31/12/2016 Cross Asset Absolute Return Currency Quantity Purchase/ Sale EUR P EUR S EUR P EUR 567 P EUR 567 P EUR 567 S EUR 567 S EUR 643 P EUR S EUR 643 P USD 630 P Description Maturity date Strike PUT EUR/USD 20/04/ PUT EUR/USD 20/04/ PUT EUR/USD 20/04/ CALL EURO-BUND FUTURE 27/01/ CALL EURO-BUND FUTURE 27/01/ CALL EURO-BUND FUTURE 27/01/ CALL EURO-BUND FUTURE 27/01/ CALL EURO STOXX 50 - OPT 17/03/ CALL EURO STOXX 50 - OPT 17/03/ CALL EURO STOXX 50 - OPT 17/03/ CALL US 10YR NOTE FUTURE (CBT) 27/01/ Page 271 Exposure/ Commitment (in EUR) (in EUR) 20/04/ /04/ ( ) 20/04/ /01/ /01/ /01/ ( ) 27/01/ ( ) 17/03/ /03/ ( ) 17/03/ /01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Flexible Bond Euro Currency Quantity Purchase/ Sale EUR 156 P Description Maturity date Strike PUT EURO-BUND FUTURE 27/01/ Exposure/ Commitment (in EUR) Total: (in EUR) 27/01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Flexible Equity Europe Currency Quantity Purchase/ Sale EUR 70 S EUR 70 P EUR 110 P EUR 100 S EUR 110 P Description Maturity date Strike PUT EURO STOXX 50 - OPT 16/06/ PUT EURO STOXX 50 - OPT 16/06/ PUT EURO STOXX 50 - OPT 15/12/ PUT EURO STOXX 50 - OPT 16/06/ PUT EURO STOXX 50 - OPT 16/06/ Exposure/ Commitment (in EUR) Total: (in EUR) 16/06/ (3 360) 16/06/ /12/ /06/ (3 600) 16/06/

274 Notes to the financial statements at 31/12/2016 Flexible Equity Europe (continued) Currency Quantity Purchase/ Sale EUR 100 P EUR 100 S EUR 100 P EUR 180 S EUR 100 P EUR 80 P EUR 110 S EUR 110 S EUR 105 P EUR 195 S EUR 90 P EUR S EUR 60 S EUR 60 P Description Maturity date Strike PUT EURO STOXX 50 - OPT 17/03/ PUT EURO STOXX 50 - OPT 17/03/ PUT EURO STOXX 50 - OPT 16/06/ PUT EURO STOXX 50 - OPT 17/03/ PUT EURO STOXX 50 - OPT 17/03/ PUT EURO STOXX 50 - OPT 17/03/ PUT EURO STOXX 50 - OPT 16/06/ PUT EURO STOXX 50 - OPT 15/12/ PUT EURO STOXX 50 - OPT 15/09/ PUT EURO STOXX 50 - OPT 15/09/ PUT EURO STOXX 50 - OPT 15/09/ CALL EURO STOXX 50 - OPT 20/01/ PUT EURO STOXX 50 - OPT 15/09/ PUT EURO STOXX 50 - OPT 15/09/ Exposure/ Commitment (in EUR) (in EUR) 17/03/ /03/ (100) 16/06/ /03/ (540) 17/03/ /03/ /06/ (5 940) 15/12/ (24 200) 15/09/ /09/ (22 815) 15/09/ /01/ ( ) 15/09/ (8 700) 15/09/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Flexible Multi-Asset Currency Quantity Purchase/ Sale EUR P EUR S USD S USD P USD S Description Maturity date Strike CALL EUR/GBP 13/01/ CALL EUR/GBP 13/01/ CALL USD/JPY 25/01/ CALL JPY/USD 25/01/ CALL USD/MXN 12/01/ Exposure/ Commitment (in EUR) Total: (54 920) (in EUR) 13/01/ /01/ /01/ (48 146) 25/01/ /01/ (30 571) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Total: (30 571) Page 272

275 Notes to the financial statements at 31/12/2016 Multi-Asset Income Emerging Currency Quantity Purchase/ Sale USD S CALL USD/MXN 12/01/ Description Maturity date Strike Exposure/ Commitment (in USD) (in USD) 12/01/ (11 101) As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to 0 USD. Step 90 Euro Currency Quantity Purchase/ Sale EUR 855 P EUR 400 P Description Maturity date Strike CALL EURO STOXX 50 - OPT 15/12/ CALL EURO STOXX 50 - OPT 16/06/ Exposure/ Commitment (in EUR) Total: (11 101) (in EUR) 15/12/ /06/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to 0 EUR. Sustainable Bond Euro Currency Quantity Purchase/ Sale EUR 176 P Description Maturity date Strike PUT EURO-BUND FUTURE 27/01/ Exposure/ Commitment (in EUR) Total: (in EUR) 27/01/ As at 31 December 2016, the cash margin balance in relation to futures and/or options amounted to EUR. Counterparties to Options: BNP Paribas Paris BNP Paribas Securities Services Citigroup Global Market Deutsche Bank Goldman Sachs International London JP Morgan London Nomura International Plc UBS Warburg London Swaptions Total: A type of option between two parties that can be exercised on a swap where the buyer of the swap has the right, but not obligation to, receive an agreed upon fixed interest rate. The buyer pays a premium for the right to swap at this fixed rate. Short for a call swap option, a call swaption can be used as a hedging tool to avoid risk if a bond issuer believes interest rates might decrease. Page 273

276 Notes to the financial statements at 31/12/2016 Bond Absolute Return V350 Nominal Currency Type Strike Maturity Cash Flow USD Swaption Put on CDS 1.029% 18/01/ EUR Swaption Call on CDS 3.125% 18/01/ EUR Swaption Put on CDS 4.500% 18/01/2017 PUT CDX HY CDSI S27 5Y 18/01/ CALL ITRX XOVER CDSI S26 5Y V1 18/01/ PUT ITRX XOVER CDSI S26 5Y V1 18/01/ GBP Swaption Put on IRS 3.872% 02/06/2023 PUT 6-M GBP-LIBOR 02/06/ Bond Absolute Return V700 (in EUR) ( ) Nominal Currency Type Strike Maturity Cash Flow USD Swaption Put on CDS 1.029% 18/01/ EUR Swaption Call on CDS 3.125% 18/01/ EUR Swaption Put on CDS 4.500% 18/01/2017 Bond Euro High Yield PUT CDX HY CDSI S27 5Y 18/01/ CALL ITRX XOVER CDSI S26 5Y V1 18/01/ PUT ITRX XOVER CDSI S26 5Y V1 18/01/ (in EUR) ( ) Nominal Currency Type Strike Maturity Cash Flow EUR Swaption Put on CDS 3.250% 15/02/2017 Bond USD PUT ITRX XOVER CDSI S26 5Y 15/02/ (in EUR) Nominal Currency Type Strike Maturity Cash Flow USD Swaption Put on CDS 1.029% 18/01/ EUR Swaption Call on CDS 3.125% 18/01/ EUR Swaption Put on CDS 4.500% 18/01/2017 PUT CDX HY CDSI S27 5Y 18/01/ CALL ITRX XOVER CDSI S26 5Y V1 18/01/ PUT ITRX XOVER CDSI S26 5Y V1 18/01/ (in USD) (52 269) Page 274

277 Notes to the financial statements at 31/12/2016 Bond World Nominal Currency Type Strike Maturity Cash Flow USD Swaption Put on CDS 1.029% 18/01/ EUR Swaption Call on CDS 3.125% 18/01/ EUR Swaption Put on CDS 4.500% 18/01/2017 PUT CDX HY CDSI S27 5Y 18/01/ CALL ITRX XOVER CDSI S26 5Y V1 18/01/ PUT ITRX XOVER CDSI S26 5Y V1 18/01/ GBP Swaption Put on IRS 3.872% 02/06/2023 PUT 6-M GBP-LIBOR 02/06/ (in EUR) (55 806) Counterparties to Swaptions: Barclays Bank London Citigroup Global Market Goldman Sachs International London Royal Bank of Scotland Note 15 - Securities lending As at 31 December 2016, the Company has not concluded securities lending agreement. For the year ended 31 December 2016, the securities lending income generated by the Fund is as follows: Sub-fund Currency Net Income Cost And Fees Gross Income Equity Best Selection Asia ex-japan EUR Equity Brazil USD Equity China USD Equity High Dividend Pacific EUR Equity Latin America USD Equity Turkey EUR The only remaining fees attributable to lending securities income are the agency (BP2S) fees which will be 20%. Note 16 - Global overview of collateral In order to limit counterparty risk on swap agreements, the SICAV has put a collateralisation process in place. As at 31 December 2016, the SICAV pledged the following collateral in favour of swap agreement counterparties: Sub-fund Currency OTC collateral Type of collateral Bond Absolute Return V350 EUR Cash Bond Absolute Return V700 EUR Cash Bond Asia ex-japan USD Cash Bond Best Selection World Emerging USD Cash Bond Euro Corporate EUR Cash Bond Euro High Yield EUR Cash Bond Europe Emerging EUR Cash Bond USA High Yield USD Cash Bond USD Short Duration USD Cash Bond World EUR Cash Bond World Emerging USD Cash Page 275

278 Notes to the financial statements at 31/12/2016 Sub-fund Currency OTC collateral Type of collateral Bond World Emerging Local USD Cash Bond World High Yield EUR Cash Bond World High Yield Short Duration USD Cash Bond World Income EUR Cash Commodities USD Cash Convertible Bond Europe EUR Cash Convertible Bond World USD Cash Cross Asset Absolute Return EUR Cash Enhanced Cash 6 Months EUR Cash Equity Europe Value EUR Cash Equity High Dividend USA USD Cash Equity Japan JPY Cash Equity Japan Small Cap JPY Cash Equity USA USD Cash Equity USA Growth USD Cash Equity USA Mid Cap USD Cash Equity USA Small Cap USD Cash Equity USA Value USD Cash Flexible Multi-Asset EUR Cash Sustainable Bond Euro Corporate EUR Cash Sustainable Bond World Corporate USD Cash As at 31 December 2016, the counterparties to swap agreements pledged the following collateral in favour of the SICAV: Sub-fund Currency OTC collateral Type of collateral Bond Absolute Return V350 EUR Cash Bond Absolute Return V700 EUR Cash Bond Best Selection World Emerging USD Cash Bond Euro Corporate EUR Cash Bond Euro High Yield EUR Cash Bond Europe Emerging EUR Cash Bond USA High Yield USD Cash Bond USD USD Cash Bond World EUR Cash Bond World Emerging USD Cash Bond World Emerging Local USD Cash Bond World High Yield EUR Cash Bond World High Yield Short Duration USD Cash Commodities USD Cash Convertible Bond World USD Cash Cross Asset Absolute Return EUR Cash Enhanced Cash 6 Months EUR Cash Equity Best Selection Euro EUR Cash Equity Europe Growth EUR Cash Equity Europe Small Cap EUR Cash Flexible Bond Europe Corporate EUR Cash Note 17 - Soft dollar fees With the aim of optimising execution, broker fees on portfolio transactions for the Company may be granted by portfolio managers in compensation for brokers research and services in executing transactions. Page 276

279 Notes to the financial statements at 31/12/2016 Research, information and other services allow portfolio managers to strengthen their own research and analyses by giving them access to information from their counterparts in other companies. These services do not incorporate travel expenses, accommodation, entertainment, general back-office, office and premises equipment, membership fees, wages and payments directly charged to the fund managers. During the financial year ending 31 December 2016, the following fund managers were able to conclude soft dollar agreements: BNPP AM Brazil Fairpointe Capital LLC FFTW US (equities) Note 18 - Related party transactions The related parties may, in their capacity as portfolio managers, also conduct transactions or invest in currencies or other financial products for the account of each sub-fund for which the related parties act as broker or for their own account or as counterparty for their clients, including in the case in which the related parties or their clients have the option of conducting transactions for their own account at the same time as for the account of each sub-fund. When handling purchases and sales of securities for each sub-fund, the related parties may also have acted as counterparty at the best market conditions. The Company considers that the commissions, increases and reductions invoiced by the related parties are competitive, although it is in the related parties interests to receive favorable commission rates, and increases and reductions for each sub-fund. Note 19 - Change in the composition of the securities portfolio The list of changes to the composition of the securities portfolio during the year is available free of charge at the Management Company s registered office and from local agents. Note 20 - List of Investment managers Alfred Berg Kapitalförvaltning AB, Stockholm, Sweden, abbreviated to Alfred Berg AB, Sweden Arnhem Investment Management Pty Ltd., Sydney, Australia, abbreviated to Arnhem BNP Paribas Asset Management S.A.S., Paris, abbreviated to BNPP AM France BNP Paribas Asset Management Brasil Ltda, Sao Paulo SP, Brazil, abbreviated to BNPP AM Brazil BNP Paribas Investment Partners Asia Limited, Hong Kong, abbreviated to BNPP IP Asia BNP Paribas Investment Partners Japan Ltd., Tokyo, Japan, abbreviated to BNPP IP Japan BNP Paribas Investment Partners Nederland N.V., Amsterdam, The Netherlands, abbreviated to BNPP IP Nederland BNP Paribas Investment Partners Singapore Limited, Singapore, abbreviated to BNPP IP Singapore BNP Paribas Investment Partners UK Limited, London, abbreviated to BNPP IP UK CamGestion S.A, Paris, France, abbreviated to CamGestion Fairpointe Capital LLC, Chicago, Illinois, USA, abbreviated to Fairpointe Fischer Francis Trees & Watts, Inc., New York, abbreviated to FFTW US Herndon Capital Management, LLC., Atlanta, USA, abbreviated to Herndon Impax Asset Management Limited Plc., London, abbreviated to Impax River Road Asset Management, LLC.Louisville, USA, abbreviated to River Road Shinhan BNP Paribas Asset Management Co. Ltd., Seoul, Korea, abbreviated to Shinhan Sumitomo Mitsui Asset Management Co. Ltd., Tokyo, Japan, abbreviated to Sumitomo TEB Portföy Yönetimi A.Ş., Istanbul, Turkey, abbreviated to TEB THEAM S.A.S, Paris, France, abbreviated to THEAM Page 277

280 Notes to the financial statements at 31/12/2016 Equity Europe Value Convertible Bond Asia Sub-fund Equity Australia Equity New Frontiers (launched on 29 July 2016) Equity World Consumer Durables Equity World Emerging Equity World Energy Equity World Finance Equity World Health Care Equity World Materials Equity World Technology Equity World Telecom Equity World Utilities Money Market USD Equity World Emerging Small Cap Equity USA Growth Equity USA Small Cap Bond Euro Bond Euro Government Bond Euro Inflation-Linked Bond Euro Medium Term Bond Euro Short Term Bond Euro Short Term Corporate Covered Bond Euro (formerly Euro Covered Bond) Enhanced Cash 6 Months Flexible Bond Euro Green Tigers Money Market Euro Sustainable Bond Euro Convertible Bond Europe Small Cap Equity Europe Mid Cap Flexible Bond Europe Corporate Human Development Sustainable Equity Europe Equity Japan Bond Euro Corporate Convertible Bond Europe Convertible Bond World Equity Europe Small Cap Sustainable Bond Euro Corporate Sustainable Equity High Dividend Europe (formerly Equity High Dividend Europe) Bond Euro High Yield Equity Brazil Equity Latin America Equity Russia Equity Russia Opportunities Investment managers CamGestion BNPP IP UK for the management of FX BNPP IP Asia sub delegating to BNPP IP UK for the management of FX Arnhem FFTW US FFTW US sub delegating to BNPP IP UK for the management of FX FFTW US BNPP IP UK for the management of FX BNPP AM France BNPP AM France sub delegating to BNPP IP UK for the management of FX BNPP IP Japan BNPP IP UK for the management of FX BNPP AM France sub delegating to BNPP IP UK for the management of FX BNPP IP UK (FX management) BNPP AM France sub delegating to BNPP IP UK for the management of FX BNPP IP UK (inclusive FX management) BNPP AM Brazil BNPP AM Brazil sub delegating to BNPP IP UK for the management of FX Alfred Berg AB, Sweden sub delegating to BNPP IP UK for the management of FX Page 278

281 Notes to the financial statements at 31/12/2016 Sub-fund Sustainable Bond World Corporate (formerly Bond World Corporate) Bond World High Yield Bond World High Yield Short Duration Commodities Equity Germany Equity World Emerging Low Volatility Equity World Low Volatility Step 90 Euro Cross Asset Absolute Return Multi-Strategy Low Vol (absorbed on 10 November 2016) Multi-Strategy Medium Vol (absorbed on 1 April 2016) Multi-Strategy Medium Vol (USD) (absorbed on 1 April 2016) Step 80 World Emerging (absorbed on 8 January 2016) Bond World Income Equity USA Diversified Dynamic Bond JPY Equity Japan Small Cap Real Estate Securities Europe Real Estate Securities Pacific Real Estate Securities World Bond USA High Yield Bond Absolute Return V350 Bond Absolute Return V700 Bond USD Short Duration Bond Best Selection World Emerging Bond World Emerging Bond World Emerging Local Aqua Climate Impact (formerly Environmental Opportunities) Global Environment SMaRT Food Equity USA Mid Cap Equity South Korea Equity Bric (absorbed on 7 October 2016) Bond Euro Long Term Bond Europe Emerging Equity Best Selection World Equity Europe Growth Equity High Dividend World Flexible Multi-Asset Opportunities World (absorbed on 29 January 2016) Bond Asia ex-japan Investment managers FFTW US sub delegating to BNPP IP UK for the management of FX BNPP AM France BNPP IP UK (inclusive FX management) THEAM BNPP AM France BNPP IP UK for the management of FX THEAM THEAM sub delegating to BNPP IP UK for the management of FX THEAM BNPP IP UK for the management of FX THEAM sub delegating to BNPP IP UK for the management of FX BNPP IP UK for the management of FX BNPP IP Japan Sumitomo BNPP IP UK for the FX management BNPP IP Nederland FFTW US BNPP IP UK for the management of FX BNPP AM France BNPP IP UK (inclusive FX Management) FFTW US FFTW US BNPP IP UK (inclusive FX management) BNPP IP UK (inclusive FX management) Impax BNPP IP UK for the FX management Fairpointe BNPP IP UK for the FX management Shinhan FFTW US sub delegating to BNPP IP Asia, to BNPP AM Brazil and to BNPP IP UK for the FX Management BNPP IP UK BNPP IP Singapore BNPP IP UK for the FX management Page 279

282 Notes to the financial statements at 31/12/2016 Sub-fund Bond USD Bond World Bond World Inflation-Linked Equity Asia Pacific ex-japan (formerly Equity Pacific ex-japan) Equity India Equity Indonesia Equity China Bond RMB (launched on 28 November 2016) Equity Best Selection Euro Equity Best Selection Europe ex-uk Equity Best Selection Europe Equity High Dividend USA Equity Nordic Small Cap Equity Europe Emerging Equity Turkey Equity Asia ex-japan (launched on 25 November 2016) Equity Best Selection Asia ex-japan Equity High Dividend Pacific Equity USA Value Multi-Asset Income Emerging (launched on 25 April 2016) Flexible Equity Europe BNPP IP UK FFTW US BNPP IP Asia Investment managers BNPP AM France Sub delegating to BNPP IP Asia BNPP IP UK BNPP AM France BNPP IP UK BNPP AM France sub delegating to BNPP IP UK for the FX Management River Road BNPP IP UK for the FX management Alfred Berg AB, Sweden BNPP IP UK for the FX management Alfred Berg AB, Sweden advised by TEB sub delegating to BNPP IP UK for the FX Management TEB sub delegating to BNPP IP UK for the FX Management BNPP IP Asia BNPP IP UK for the FX management Herndon BNPP IP UK for the FX management BNPP IP UK sub delegating to Alfred Berg AB, Sweden (advised by TEB), BNPP IP Asia, BNPP AM Brazil and BNPP IP Singapore BNPP IP NL sub delegating to BNPP IP UK for the management of FX BNPP IP UK for the FX management Note 21 - Transaction fees Transaction fees incurred by the Fund relating to purchase or sale of transferable securities, money market instruments, derivatives or other eligible are mainly composed of standard fees, sundry fees on transaction, stamp fees, brokerage fees, custody fees, VAT, stock exchange fees, RTO fees (Reception and Transmission of Orders) and dilution levy. In line with bond market practice, a bid-offer spread is applied when buying or selling securities and other financial instruments. Consequently, in any given transaction, there will be a difference between the purchase and sale prices quoted by the broker, which represents the broker s remuneration. The bid-offer spread is not included in the caption transaction fees of the statement of operations and of changes in net. Note 22 - Tax reclaims as part of the Aberdeen/Fokus Bank Project In several European Union member states, community law grants undertakings for collective investments (UCIs) the right to file claims with a view to recovering taxes they have been unjustly forced to pay. When one member state imposes a greater tax burden on a foreign UCI than on a resident UCI, this constitutes discrimination under community law. Page 280

283 Notes to the financial statements at 31/12/2016 This principle was confirmed by the ruling of the Court of Justice of the European Union (CJEU) in the Aberdeen case (18 June 2009). This ruling acknowledges that a non-resident UCI can be subject to discriminatory taxation, which constitutes an obstacle to freedom of establishment and/or the free movement of capital. Other CJEU rulings have subsequently confirmed this jurisprudence. Key examples are the rulings in the Santander (10 May 2010) and Emerging Markets (10 April 2014) cases regarding French and Polish tax legislation, respectively. In light of this jurisprudence and in order to safeguard the right of UCIs to receive tax rebates, the management company has decided to file claims with the tax authorities in several member states whose discriminatory legislation fails to comply with community law. Preliminary studies will be carried out to determine whether or not the claims are viable, i.e. for which funds, in which member states and over what period of time it is necessary to request a rebate. To date, there is no European legislation establishing a uniform framework for this type of claim. As a result, the time taken to receive a rebate and the complexity of the procedure vary depending on the member state in question. This means that it is necessary to constantly monitor developments in this regard. Due to the uncertainty of the recoverability of the amounts, no accrual is recorded and it is booked under the caption Income on investments and when received. Note 23 - Subsequent event 1 January 2017: Equity Asia ex-japan renamed Equity Asia ex-japan Small Cap (with new fee structure). 2 January 2017: USD replaced EUR as accounting Currency of the following sub-funds: Equity Asia Pacific ex-japan Equity Best selection Asia ex-japan Equity High Dividend Pacific Page 281

284 Unaudited appendix Consideration of environmental, social and governance (ESG) criteria BNP Paribas Asset Management applies a Responsible Investment Policy which sets out a certain number of ESG criteria applicable to our investment decisions. This policy is based on the criteria of the United Nations Global Compact, an international framework built on international conventions relating to human rights, labour, the environment and anti-corruption. This global initiative is supplemented by criteria aimed at controlling investment in certain business sectors, such as nuclear and coal-fired power stations, and prohibiting investment in controversial products, such as anti-personnel mines and cluster bombs. The investment criteria and implementation principles included in our Responsible Investment Policy can be consulted on our website at Furthermore, with regard to this UCITS, BNP Paribas Asset Management has applied a Sustainable Responsible Investment (SRI) policy, the principles of which are described in the AFG-FIR-Eurosif Transparency Code available on our website at for the following sub-funds: - Aqua - Climate Impact - Global Environment - Green Tigers - Human Development - SMaRT Food - Sustainable Bond Euro - Sustainable Bond Euro Corporate - Sustainable Equity Europe - Sustainable Equity High Dividend Europe Global market risk exposure The Management Company of the Fund after a risk profile assessment, decides between the commitment approach and the VAR (99%, 1 Month) to determine the global market risk exposure. The VaR limit use (minimum, maximum and average) is calculated by dividing the Daily VaR by the daily VaR limit (20% for absolute return VaR sub funds and 2 times benchmark VaR for relative VaR sub funds). The global market risk exposure information for the sub-funds using VaR for the year ending 31 December 2016, is as follows: Sub-fund Global Risk calculation Method VaR model Reference Portfolio VaR limit Lowest utilisation of VaR limit Highest utilisation of VaR limit Average utilisation of VaR limit Average level of leverage reached during the year Bond Absolute Return V350 VaR Absolute Historical VaR No Benchmark 20% 3.34% 15.50% 6.90% 339% Bond Absolute Return V700 VaR Absolute Historical VaR No Benchmark 20% 3.94% 15.50% 7.76% 395% Bond Euro High Yield Relative VaR Historical VaR ML - BB B European Currency Non Financial HY Constrained (HP4N) 2 times Benchmark VaR 44.35% 71.80% 60.11% 26% Page 282

285 Unaudited appendix Sub-fund Global Risk calculation Method VaR model Reference Portfolio VaR limit Lowest utilisation of VaR limit Highest utilisation of VaR limit Average utilisation of VaR limit Average level of leverage reached during the year Bond Europe Emerging Relative VaR Historical VaR JPM [50% GBI-EM Global Diversified Europe + 50% Euro EMBI Divers. Europe] (EUR) 2 times Benchmark VaR 34.38% 58.40% 48.32% 61% Bond USD Relative VaR Historical VaR 100% Barclays US (Aggregate) 2 times Benchmark VaR 43.37% 94.47% 64.66% 194% Bond World Relative VaR Historical VaR Barclays Global Aggregate Gross Return Index 2 times Benchmark VaR 41.79% 55.13% 47.50% 211% Bond World Emerging Relative VaR Historical VaR JPM EMBI Global Diversified 2 times Benchmark VaR 31.73% 53.18% 42.93% 27% Bond World Income VaR Absolute Historical VaR No Benchmark 20% 1.98% 9.84% 6.20% 135% Bond World Inflation- Linked Relative VaR Historical VaR Barclays WLD Government Inflation Linked All Mat (EUR HD) 2 times Benchmark VaR 49.54% 64.68% 57.58% 109% Commodities Relative VaR Historical VaR Bloomberg Commodity ex-agriculture and Livestock Capped Total Return 2 times Benchmark VaR 27.54% 45.59% 33.83% 99% Convertible Bond Asia Relative VaR Historical VaR Thomson Reuters Asia ex-japan Convertible Bond (USD) 2 times Benchmark VaR 21.36% 59.05% 31.27% 40% Convertible Bond Europe Relative VaR Historical VaR Thomson Reuters Europe Focus Convertible Bond (EUR) 2 times Benchmark VaR 31.51% 47.73% 38.90% 32% Convertible Bond Europe Small Cap Relative VaR Historical VaR Thomson Reuters Europe Convertible Bond (EUR) 2 times Benchmark VaR 24.35% 38.72% 32.67% 39% Convertible Bond World Relative VaR Historical VaR Thomson Reuters Global Focus Hedged Convertible Bond (USD) 2 times Benchmark VaR 26.38% 46.78% 37.27% 93% Cross Asset Absolute Return VaR Absolute Historical VaR No Benchmark 20% 6.87% 33.10% 13.91% 266% Flexible Bond Euro VaR Absolute Historical VaR No Benchmark 20% 5.36% 16.12% 10.30% 90% Flexible Bond Europe Corporate VaR Absolute Historical VaR No Benchmark 20% 2.42% 6.11% 3.59% 77% Page 283

286 Unaudited appendix Sub-fund Global Risk calculation Method VaR model Reference Portfolio VaR limit Lowest utilisation of VaR limit Highest utilisation of VaR limit Average utilisation of VaR limit Average level of leverage reached during the year Flexible Equity Europe Relative VaR Historical VaR MSCI Europe TR 2 times Benchmark VaR 24.55% 42.61% 35.24% 45% Flexible Multi-Asset VaR Absolute Historical VaR No Benchmark 20% 7.97% 26.60% 13.22% 137% Multi-Strategy Low Vol (absorbed on 10 November 2016) VaR Absolute Historical VaR No Benchmark 20% 1.56% 5.73% 2.97% 47% Multi-Strategy Medium Vol (absorbed on 1 April 2016) VaR Absolute Historical VaR No Benchmark 20% 4.82% 11.98% 7.45% 218% Multi-Strategy Medium Vol (USD) (absorbed on 1 April 2016) VaR Absolute Historical VaR No Benchmark 20% 4.79% 11.37% 6.97% 234% Opportunities World (absorbed on 29 January 2016) Relative VaR Historical VaR MSCI AC World Free (EUR) NR 2 times Benchmark VaR 46.97% 52.06% 49.75% 0% The sub-funds not disclosed in the table here above use the commitment approach in order to measure and monitor the global exposure. Information on the remuneration policy in effect within the Management Company Information on remuneration policy, applicable during the financial year 2016, is available on request to the management company BNP Paribas Investment Partners Luxembourg, 10 rue Edward Steichen, L-2540 Luxembourg. In addition, descriptive information on the remuneration policy of the management company can be found on the website Regulation on transparency of Securities Financing Transactions and Reuse of collateral (SFTR) This collateral applies to all OTC activity of this fund. There is no way to distinguish it upon type of instrument it is related to. Bond Euro High Yield Counterparty name Type Sub-fund Currency Market Value (absolute value) JP MORGAN SECURITIES PLC Cash EUR BNP PARIBAS Cash EUR GOLDMAN SACHS INTERNATIONAL Cash EUR CREDIT SUISSE INTERNATIONAL Cash EUR Total (absolute value) EUR Maturity Less than one day Less than one day Less than one day Less than one day Issuers Safekeeping of collateral received Safekeeping of collateral granted Reinvestment None BP2S N/A No None BP2S N/A No None BP2S N/A No None N/A Pooled N/A Page 284

287 Unaudited appendix Commodities Counterparty name Type Sub-fund Currency Market Value (absolute value) Maturity Issuers Safekeeping of collateral received Safekeeping of collateral granted Reinvestment SOCIETE GENERALE Cash USD Less than one day None BP2S N/A No GOLDMAN SACHS INTERNATIONAL Cash USD Less than one day None BP2S N/A No CREDIT SUISSE INTERNATIONAL Cash USD Less than one day None BP2S N/A No CITIGROUP GLOBAL MARKETS LIMITED Cash USD Less than one day None BP2S N/A No BNP PARIBAS Cash USD Less than one day None BP2S N/A No GOLDMAN SACHS INTERNATIONAL Cash USD Less than one day None BP2S N/A No MORGAN STANLEY & CO INTERNATIONAL PLC Cash USD Total (absolute value) USD Less than one day None N/A Pooled N/A Cross Asset Absolute Return Counterparty name Type Sub-fund Currency Market Value (absolute value) Maturity Issuers Safekeeping of collateral received Safekeeping of collateral granted Reinvestment GOLDMAN SACHS INTERNATIONAL Cash EUR Less than one day None BP2S N/A No UBS LIMITED Cash EUR BNP PARIBAS Cash EUR Less than one day Less than one day None BP2S N/A No None BP2S N/A No DEUTSCHE BANK AKTIENGESELLSCHAFT Cash EUR Less than one day None BP2S N/A No JP MORGAN SECURITIES PLC Cash EUR Less than one day None N/A Pooled N/A SOCIETE GENERALE Cash EUR Less than one day None N/A Pooled N/A CITIGROUP GLOBAL MARKETS LIMITED Cash EUR Less than one day None N/A Pooled N/A Total (absolute value) EUR Step 90 Euro There was no collateral in Data on cost and return There are no fee sharing arrangements on Total Return Swaps and 100% of the costs/returns generated are recognised in Fund's primary statements. Page 285

288 A global presence Europe Austria Belgium France Germany Greece Italy Luxembourg Portugal Spain Switzerland The Netherlands UK North America Canada USA Latin America Argentina Brazil Chile Colombia Mexico Uruguay Asia Pacific Australia Brunei China Hong Kong India Indonesia Japan Malaysia Singapore South Korea Taiwan Nordics Denmark Finland Norway Sweden EEMEA Bahrain Czech Republic Kuwait Morocco Russia Turkey Office addresses can be found in the About Us section of 14, rue Bergère Paris - France