The forward four-quarter (Q313 Q214) P/E ratio for the STOXX 600 is 13.5.

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1 PROPRIETARY RESEARCH EARNINGS AGGREGATES REPORTING ANALYST: Greg Harrison October 24, 2013 EUROPEAN AGGREGATE ESTIMATES AND REVISIONS Third quarter earnings are expected to grow -11.5% from Q Of the 48 companies in the STOXX 600 that have reported earnings to date for Q3 2013, 48% have reported earnings above analyst expectations. This is lower than the long-term average of 49% and matches the average over the past four quarters of 48%. 32% of companies have reported Q revenue above analyst expectations. This is lower than the long-term average of 56% and lower than the average over the past four quarters of 52%. The forward four-quarter (Q313 Q214) P/E ratio for the STOXX 600 is During the week of October 28, 71 STOXX 600 companies are expected to report Q earnings. SECTION A: EARNINGS OUTLOOK Q3 2013: EARNINGS REVISIONS Exhibit 1A. STOXX 600: Q Earnings Growth Estimate Trend 0.0% -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0% 9/5 9/12 9/19 9/26 10/3 10/10 10/17 10/24 10/31 11/7 11/14 11/21 11/28 12/5 12/12 12/19 12/26 1/2 STOXX 600 Earnings Outlook provides analysis and commentary on aggregate earnings estimate revisions, growth rates and valuations for companies in the STOXX Europe 600 index. View all Thomson Reuters Proprietary Research subscription channels. All data sourced from Thomson Reuters Eikon, a complete solution for research and analytics. It places the most comprehensive market information, news, analytics and trading tools available into a desktop as simple to use as the Internet. Thomson Reuters Eikon clients can run fundamental and technical screens against a global dataset representing more than 100 countries and over 200,000 securities. Learn more. Request a free trial of Thomson Reuters Eikon today Thomson Reuters. All marks herein are used under license.

2 Q3 2013: EARNINGS SCORECARDS Exhibit 2A. STOXX 600: Q Earnings vs. Expectations Surprise Reported Cos. w/ Ests. Sector Above % Match % Below % Factor % Total # Total # Basic Materials 29% 29% 43% -2% 7 32 Consumer Cyclicals 50% 25% 25% 5% 4 33 Consumer Non-Cyclicals 75% 0% 25% -2% 4 17 Energy 50% 0% 50% 3% 2 21 Financials 83% 0% 17% 4% 6 63 Healthcare 67% 17% 17% 3% 6 24 Industrials 50% 13% 38% 1% 8 51 Technology 0% 25% 75% -3% 4 14 Telecommunications Services 40% 40% 20% -27% 5 19 Utilities 0% 0% 100% -44% 2 4 STOXX % 16.7% 35.4% -4% Through October 24, 48 companies in the STOXX 600 Index have reported earnings for Q Of these 48 companies, 48% reported earnings above analyst expectations, 17% reported earnings in line with analyst expectations and 35% reported earnings below analyst expectations. In a typical quarter (since 2011), 48% of companies beat estimates, 8% match and 44% miss estimates. Over the past four quarters, 49% of companies beat the estimates, 8% matched and 42% missed estimates. In aggregate, companies are reporting earnings that are 4% below estimates, which is lower than the 6% long-term (since 2011) average surprise factor, and lower than the 5% surprise factor recorded over the past four quarters. Exhibit 3A. STOXX 600: Full Year 2012 Earnings vs. Expectations Surprise Reported Cos. w/ Ests. Sector Above % Match % Below % Factor % Total # Total # Basic Materials 50% 8% 42% Consumer Cyclicals 46% 11% 43% Consumer Non-Cyclicals 63% 9% 28% Energy 43% 6% 51% Financials 50% 9% 41% Healthcare 62% 3% 34% Industrials 58% 4% 38% Technology 42% 11% 47% Telecommunications Services 54% 8% 38% Utilities 50% 6% 44% STOXX % 7.6% 40.4% Thomson Reuters. All marks herein are used under license. TRPR_83201_2 2

3 Q3 2013: REVENUE SCORECARDS Exhibit 4A. STOXX 600: Q Revenue vs. Expectations Surprise Reported Cos. w/ Ests. Sector Above % Match % Below % Factor % Total # Total # Basic Materials 50% 0% 50% 0% 8 34 Consumer Cyclicals 80% 20% 0% 4% 5 36 Consumer Non-Cyclicals 0% 0% 100% 0% 3 21 Energy 0% 0% 100% -6% 2 21 Financials 57% 0% 43% 3% 7 62 Healthcare 33% 0% 67% -1% 6 24 Industrials 9% 0% 91% -3% Technology 25% 0% 75% -3% 4 14 Telecommunications Services 17% 0% 83% -5% 6 24 Utilities 0% 0% 100% -3% 1 3 STOXX % 2% 66% -1% Through October 24, 53 companies in the STOXX 600 Index have reported revenues for Q Of these 53 companies, 32% reported revenues above analyst expectations, 2% reported revenues in line with analyst expectations, and 66% reported revenues below analyst expectations. In aggregate, companies are reporting revenues that are 1% below estimates. Exhibit 5A. STOXX 600: Full Year 2012 Revenue vs. Expectations Surprise Reported Cos. w/ Ests. Sector Above % Match % Below % Factor % Total # Total # Basic Materials 51% 0% 49% Consumer Cyclicals 55% 2% 43% Consumer Non-Cyclicals 59% 0% 41% Energy 60% 0% 40% Financials 52% 0% 48% Healthcare 59% 0% 41% Industrials 53% 1% 46% Technology 68% 0% 32% Telecommunications Services 75% 0% 25% Utilities 94% 0% 6% STOXX % 0.4% 42.3% Thomson Reuters. All marks herein are used under license. TRPR_83201_2 3

4 Q3 2013: EARNINGS GROWTH RATES Exhibit 6A. STOXX 600: Q Earnings Growth (Based on 278 Companies with Estimates) Earnings $B Earnings $B Growth $B Growth % Sector Q313 Q312 Q313 Q313 Basic Materials % Consumer Cyclicals % Consumer Non-Cyclicals % Energy % Financials % Healthcare % Industrials % Technology % Telecommunications Services % Utilities % STOXX % The estimated earnings growth rate for the STOXX 600 for Q is -11.5%. The STOXX 600 expects to see share-weighted earnings of $105.7B in Q3 2013, compared to share-weighted earnings of $119.5B (based on the year-ago earnings of the current constituents) in Q Two of the ten sectors in the index expect to see an improvement in earnings relative to Q The Information Technology sector has the highest earnings growth rate for the quarter, while the Utilities sector has the weakest anticipated growth compared to Q The Information Technology sector has the highest earnings growth rate (12.7%) of any sector. It is expected to earn $2.7B in Q3 2013, compared to earnings of $2.4B in Q Three of the four industry groups in the sector are anticipated to see higher earnings than a year ago. The Communications & Networking (26%) and Software & IT Services (9%) industry groups have the highest growth rates within the sector. The Utilities sector has the lowest growth rate (-40.9%) of any sector. It is expected to earn $1.4B in Q3 2013, relative to earnings of $2.3B in Q All four industry groups in the sector are anticipated to see earnings decreases compared to Q The Electric Utilities & IPPs (-49%) has the lowest growth estimate in the sector. Exhibit 7A. STOXX 600: Full Year 2013 Earnings Growth (Based on 504 Companies with Estimates) Earnings $B Earnings $B Growth $B Growth % Sector Q313 Q312 Q313 Q313 Basic Materials % Consumer Cyclicals % Consumer Non-Cyclicals % Energy % Financials % Healthcare % Industrials % Technology % Telecommunications Services % Utilities % STOXX % 2013 Thomson Reuters. All marks herein are used under license. TRPR_83201_2 4

5 Q3 2013: REVENUE GROWTH RATES Exhibit 8A. STOXX 600: Q Revenue Growth (Based on 297 Companies With Estimates) Revenue $B Revenue $B Growth $B Growth % Sector Q313 Q312 Q313 Q313 Basic Materials % Consumer Cyclicals % Consumer Non-Cyclicals % Energy % Financials % Healthcare % Industrials % Technology % Telecommunications Services % Utilities % STOXX % The estimated revenue growth rate for the STOXX 600 for Q is -1.8%. The STOXX 600 is expected to earn revenues of $1,518.7B in Q compared to $1,546.0B in Q Five of the ten sectors anticipate revenue growth for the quarter. The Utilities sector is expected to have the highest revenue growth rate for the quarter, while the Telecommunications Services sector is expected to have the lowest revenue growth rate. The Utilities sector expects the highest revenue growth rate (76.9%) for the quarter. It is expected to generate sales of $9.0B in Q3 2013, compared to sales of $3.4B in Q All three companies with revenue estimates in the sector are expected to see sales growth. The Telecommunications Services sector has the lowest revenue growth rate at -6.4%. The sector is expected to post sales of $107.9B in Q3 2013, relative to sales of $115.3B in Q Both industry groups in the sector expect to see revenue decreases for the quarter, led by the Integrated Telecommunications Services (-6%) industry group. Exhibit 9A. STOXX 600: Full Year 2013 Revenue Growth (Based on 504 Companies With Estimates) Revenue $B Revenue $B Growth $B Growth % Sector Q313 Q312 Q313 Q313 Basic Materials % Consumer Cyclicals 1, , % Consumer Non-Cyclicals % Energy 1, , % Financials 1, , % Healthcare % Industrials 1, , % Technology % Telecommunications Services % Utilities % STOXX , , % 2013 Thomson Reuters. All marks herein are used under license. TRPR_83201_2 5

6 Q3 2013: EARNINGS GROWTH RATES BY COUNTRY Exhibit 10A. STOXX 600: Q Earnings Growth Rate Estimates by Country Bermuda Denmark Finland Jersey Sweden Ireland Norway Belgium Netherlands Great Britain Austria STOXX 600 France Switzerland Spain Italy Germany Greece 60% 40% 20% 0% 20% 40% 60% 80% *Note: Luxembourg excluded to improve chart readability. Estimated earnings growth for Luxembourg-based companies is 273% Analysts expect positive earnings growth from seven of the 19 countries represented in the STOXX 600 index. Luxembourg (273%) and Bermuda (58%) have the highest estimated earnings growth rates, while Greece (-46%) and Germany (-23%) have the lowest estimated growth Thomson Reuters. All marks herein are used under license. TRPR_83201_2 6

7 Q Q2 2014: FORWARD FOUR-QUARTER P/E RATIO Exhibit 11A. STOXX 600: Forward Four-Quarter (Q Q2 2014) P/E Ratio P/E Ratio Number of Companies CY Forward 4 Quarter CY The forward four-quarter (Q Q4 2013) P/E ratio for the STOXX 600 is Q Q2 2014: EARNINGS GROWTH The estimated earnings growth rates for the STOXX 600 for Q through Q are -11%, 15%, 27% and 27%, respectively. For sector-level growth rates for Q through Q2 2014, see Exhibits 2C-5C in this report. EARNINGS CALENDAR The next several weeks will see companies report earnings for Q There are 71 STOXX 600 companies scheduled to report Q earnings during the week of October 28 and 1 company reporting semiannual earnings. Exhibit 12A. Number of Companies Reporting Q Earnings Reported Report Report Report Q To Date This Week Next Week Remaining STOXX Source: Thomson Reuters StreetEvents Thomson Reuters. All marks herein are used under license. TRPR_83201_2 7

8 SECTION B: EARNINGS CALENDAR MONDAY: OCTOBER 28 Exhibit 1B. Monday Earnings Calendar Date Ticker Company Qtr/Semi Est Yr Ago % Dif 21-Oct-13 AKZO.AS AKZO NOBEL QTR Oct-13 PGIL.L POLYUS GOLD INTL. QTR NA 21-Oct-13 PHG.AS PHILIPS ELTN.KONINKLIJKE QTR Oct-13 SAPG.DE SAP QTR Oct-13 VLOF.PA VALEO QTR 1.65 NA 21-Oct-13 GCC.I C&C GROUP SEMI NA Source: Thomson Reuters StreetEvents Thomson Reuters. All marks herein are used under license. TRPR_83201_2 8

9 TUESDAY: OCTOBER 29 Exhibit 2B. Tuesday Earnings Calendar Date Ticker Company Qtr/Semi Est Yr Ago % Dif 22-Oct-13 ARM.L ARM HOLDINGS QTR Oct-13 BOL.ST BOLIDEN QTR Oct-13 STERV.HE STORA ENSO 'R' QTR Oct-13 ENAG.MC ENAGAS QTR Oct-13 GJFS.OL GJENSIDIGE FORSIKRING QTR Oct-13 KRA1V.HE KEMIRA QTR Oct-13 KNEBV.HE KONE 'B' QTR Oct-13 KPN.AS KPN KON QTR Oct-13 MTGb.ST MODERN TIMES GP.MTG 'B' QTR Oct-13 TEL2b.ST TELE2 'B' QTR Oct-13 NOVN.VX NOVARTIS 'R' QTR Oct-13 ORNBV.HE ORION 'B' QTR Oct-13 SWEDa.ST SWEDBANK 'A' QTR Source: Thomson Reuters StreetEvents Thomson Reuters. All marks herein are used under license. TRPR_83201_2 9

10 WEDNESDAY: OCTOBER 30 Exhibit 3B. Wednesday Earnings Calendar Date Ticker Company Qtr/Semi Est Yr Ago % Dif 23-Oct-13 CHRH.CO CHR HANSEN HOLDING QTR Oct-13 HEXAb.ST HEXAGON 'B' QTR Oct-13 FUM1V.HE FORTUM QTR Oct-13 GSK.L GLAXOSMITHKLINE QTR Oct-13 IBE.MC IBERDROLA QTR Oct-13 KCR1V.HE KONECRANES QTR Oct-13 MHG.OL MARINE HARVEST QTR NA 23-Oct-13 MTXGn.DE MTU AERO ENGINES HLDG. QTR Oct-13 NDA.ST NORDEA BANK QTR Oct-13 NHY.OL NORSK HYDRO QTR NA 23-Oct-13 SCVb.ST SCANIA 'B' QTR Oct-13 SHBa.ST SVENSKA HANDBKN.'A' QTR Oct-13 TGS.OL TGS-NOPEC GEOPHS. QTR Oct-13 TRELb.ST TRELLEBORG 'B' QTR Source: Thomson Reuters StreetEvents Thomson Reuters. All marks herein are used under license. TRPR_83201_2 10

11 THURSDAY: OCTOBER 31 Exhibit 4B. Thursday Earnings Calendar Date Ticker Company Qtr/Semi Est Yr Ago % Dif 24-Oct-13 ABBN.VX ABB 'R' QTR Oct-13 AMEAS.HE AMER SPORTS 'A' QTR Oct-13 BKT.MC BANKINTER 'R' QTR Oct-13 SABE.MC BANCO DE SABADELL QTR Oct-13 CSGN.VX CREDIT SUISSE GROUP N QTR Oct-13 DAIGn.DE DAIMLER QTR Oct-13 DNB.OL DNB QTR Oct-13 ELN.I ELAN QTR Oct-13 HUSQb.ST HUSQVARNA 'B' QTR Oct-13 IJ.ST INTRUM JUSTITIA QTR Oct-13 JM.ST JM QTR Oct-13 KESBV.HE KESKO 'B' QTR Oct-13 MEO1V.HE METSO QTR Oct-13 WRT1V.HE WARTSILA QTR Oct-13 NES1V.HE NESTE OIL QTR Oct-13 SAND.ST SANDVIK QTR Oct-13 SAN.MC BANCO SANTANDER QTR Oct-13 SEBa.ST SEB 'A' QTR Oct-13 SHP.L SHIRE QTR Oct-13 ERICb.ST ERICSSON 'B' QTR Oct-13 HOLMb.ST HOLMEN 'B' QTR Oct-13 SOWG.DE SOFTWARE QTR Oct-13 TNET.BR TELENET GROUP HOLDING QTR Oct-13 ULVR.L UNILEVER (UK) QTR 0.56 NA 24-Oct-13 UNc.AS UNILEVER CERTS. QTR Oct-13 UPM1V.HE UPM-KYMMENE QTR Source: Thomson Reuters StreetEvents Thomson Reuters. All marks herein are used under license. TRPR_83201_2 11

12 FRIDAY: NOVEMBER 1 Exhibit 5B. Friday Earnings Calendar Date Ticker Company Qtr/Semi Est Yr Ago % Dif 25-Oct-13 BASFn.DE BASF QTR Oct-13 BBVA.MC BBV.ARGENTARIA QTR Oct-13 BCOM.BR BELGACOM QTR Oct-13 BES.LS BANCO ESPIRITO SANTO QTR Oct-13 CABK.MC CAIXABANK QTR NA 25-Oct-13 ELSN.AS REED ELSEVIER (AMS) QTR NA 25-Oct-13 NZYMb.CO NOVOZYMES QTR Oct-13 PGS.OL PETROLEUM GEO SERVICES QTR Oct-13 SCHP.VX SCHINDLER 'P' QTR Oct-13 ELUXb.ST ELECTROLUX 'B' QTR Oct-13 SOLB.BR SOLVAY QTR Oct-13 ATCOa.ST ATLAS COPCO 'A' QTR Oct-13 VOLVb.ST VOLVO 'B' QTR Source: Thomson Reuters StreetEvents Thomson Reuters. All marks herein are used under license. TRPR_83201_2 12

13 SECTION C: EARNINGS DATA TABLES Exhibit 1C. STOXX 600: Q Earnings Scorecard Sector Above Match Below Surprise Reported Index Basic Materials 29% 29% 43% -2% 7 32 Consumer Cyclicals 50% 25% 25% 5% 4 33 Consumer Non-Cyclicals 75% 0% 25% -2% 4 17 Energy 50% 0% 50% 3% 2 21 Financials 83% 0% 17% 4% 6 63 Healthcare 67% 17% 17% 3% 6 24 Industrials 50% 13% 38% 1% 8 51 Technology 0% 25% 75% -3% 4 14 Telecommunications Services 40% 40% 20% -27% 5 19 Utilities 0% 0% 100% -44% 2 4 STOXX % 16.7% 35.4% -4% Exhibit 2C. STOXX 600: Q Earnings Growth Sector Today 1 Oct 1 Jul 1 Apr Basic Materials 4.0% 7.9% 23.9% 34.7% Consumer Cyclicals -29.6% 10.8% 6.7% 16.7% Consumer Non-Cyclicals -0.3% 0.8% 7.1% 7.4% Energy -15.9% -16.8% -13.8% -9.1% Financials -10.6% -3.4% 5.1% -10.1% Healthcare -3.1% -0.5% 0.7% 1.9% Industrials -1.9% 0.7% 3.3% 7.1% Technology 12.7% 21.3% 19.6% 37.3% Telecommunications Services -18.9% -15.4% -10.8% 2.4% Utilities -40.9% -34.1% 21.1% 10.5% STOXX % -4.2% 0.4% 1.1% Number of Companies Included in Estimate Exhibit 3C. STOXX 600: Q Earnings Growth Sector Today 1 Oct 1 Jul 1 Apr Basic Materials -0.2% 2.7% 14.4% 25.1% Consumer Cyclicals 6.2% 2.8% -3.6% -0.2% Consumer Non-Cyclicals 11.0% 14.1% 17.0% 14.1% Energy 1.2% 3.9% 0.9% 4.6% Financials 67.8% 49.7% 104.2% 55.0% Healthcare 5.7% 6.5% 6.4% 6.9% Industrials 49.6% 41.7% 46.2% 22.1% Technology 68.1% 70.2% 66.5% 79.1% Telecommunications Services -35.1% -36.4% -32.5% -29.2% Utilities -70.1% -70.2% -32.5% 85.4% STOXX % 12.4% 20.1% 17.6% Number of Companies Included in Estimate Thomson Reuters. All marks herein are used under license. TRPR_83201_2 13

14 Exhibit 4C. STOXX 600: Q Earnings Growth Sector Today 1 Oct 1 Jul 1 Apr Basic Materials 42.1% 97.3% 143.1% 32.2% Consumer Cyclicals 17.1% 16.4% 18.0% 19.7% Consumer Non-Cyclicals -60.8% 146.0% 147.4% 59.7% Energy -1.6% -0.5% 0.4% 19.6% Financials 9.3% 8.9% 21.1% 10.3% Healthcare 117.8% 112.5% 112.7% 9.9% Industrials 45.6% 51.1% 44.3% 28.4% Technology 74.1% 72.6% 96.0% 98.2% Telecommunications Services 3.0% 3.7% 8.3% 7.9% Utilities -10.1% -10.3% -9.2% -7.8% STOXX % 29.3% 36.3% 20.0% Number of Companies Included in Estimate Exhibit 5C. STOXX 600: Q Earnings Growth Sector Today 1 Oct 1 Jul Basic Materials 11.1% 35.3% 54.5% Consumer Cyclicals 0.7% 0.0% 16.9% Consumer Non-Cyclicals 34.1% 37.6% 7.1% Energy 41.4% 45.4% 21.2% Financials 34.8% 30.7% 22.1% Healthcare 5.3% 6.0% 3.1% Industrials 39.5% 42.3% 24.4% Technology 41.1% 42.9% 57.3% Telecommunications Services 7.9% 8.7% 14.9% Utilities 0.0% 0.0% 20.7% STOXX % 29.0% 21.9% Number of Companies Included in Estimate Exhibit 6C. STOXX 600: Q Earnings Growth Sector Today 1 Oct Basic Materials 18.5% 36.2% Consumer Cyclicals 10.0% 6.3% Consumer Non-Cyclicals 23.2% 16.1% Energy 8.3% 12.5% Financials 23.3% 18.7% Healthcare 10.2% 6.5% Industrials 22.8% 21.1% Technology 42.8% 33.7% Telecommunications Services 4.0% 7.8% Utilities 100.0% 17.4% STOXX % 15.2% Number of Companies Included in Estimate Thomson Reuters. All marks herein are used under license. TRPR_83201_2 14

15 Exhibit 7C. STOXX 600: CY 2013 Earnings Growth Sector Today 1 Oct 1 Jul 1 Apr Basic Materials -8.6% -7.5% 2.2% 12.5% Consumer Cyclicals -12.5% -11.8% -11.7% -8.7% Consumer Non-Cyclicals 1.7% 2.9% 4.5% 6.8% Energy -14.9% -12.9% -8.2% -1.5% Financials 14.6% 14.8% 17.5% 21.5% Healthcare -0.7% -0.3% 0.6% 1.2% Industrials 4.9% 6.2% 8.9% 11.9% Technology 25.3% 27.9% 31.6% 36.3% Telecommunications Services -21.1% -20.6% -17.2% -12.8% Utilities -14.3% -12.2% -13.8% -13.7% STOXX % -1.0% 1.6% 5.7% Number of Companies Included in Estimate Exhibit 8C. STOXX 600: CY 2014 Earnings Growth Sector Today 1 Oct 1 Jul 1 Apr Basic Materials 19.0% 19.1% 18.8% 16.9% Consumer Cyclicals 18.7% 18.2% 16.7% 16.0% Consumer Non-Cyclicals 9.5% 9.6% 10.4% 10.3% Energy 14.0% 12.7% 10.1% 8.1% Financials 18.3% 16.7% 16.4% 16.7% Healthcare 8.7% 9.1% 9.7% 9.6% Industrials 20.7% 20.7% 18.7% 16.0% Technology 35.4% 36.2% 33.7% 32.6% Telecommunications Services 4.8% 5.0% 4.5% 4.6% Utilities -1.2% -2.2% 2.9% 4.8% STOXX % 14.3% 13.8% 13.3% Number of Companies Included in Estimate Exhibit 10C. STOXX 600: Actual Earnings Growth Rates Sector 2Q13 1Q13 4Q12 3Q12 2Q12 Basic Materials -20.9% -16.4% 20.0% -23.6% -15.1% Consumer Cyclicals -3.0% -25.0% 9.0% 58.9% 7.2% Consumer Non-Cyclicals -11.3% 4.5% 4.2% 2.9% 12.8% Energy -25.2% -11.2% -24.6% 5.8% -13.4% Financials 2.5% -13.6% -49.6% 20.6% -53.0% Healthcare -6.5% -8.4% 0.3% -3.4% -0.1% Industrials -13.1% -17.5% 0.2% 10.9% -3.3% Technology 7.9% -13.2% -28.6% -37.7% -41.7% Telecommunications Services -10.9% -11.0% 27.3% 23.2% -8.6% Utilities -20.1% -9.4% 16.8% 3.9% 60.5% STOXX % -12.7% -13.4% 9.7% -23.7% 2013 Thomson Reuters. All marks herein are used under license. TRPR_83201_2 15

16 Exhibit 11C. STOXX 600: Actual vs. Estimate (Above/Match/Below) 2Q13 1Q13 4Q12 3Q12 2Q12 Above 49% 44% 45% 52% 49% Match 9% 8% 7% 10% 7% Below 42% 48% 47% 38% 44% Exhibit 12C. STOXX 600: Actual vs. Estimate (Aggregate Difference) 2Q13 1Q13 4Q12 3Q12 2Q12 Surprise Factor -0.2% -0.8% 13.9% 5.4% -6.1% 2013 Thomson Reuters. All marks herein are used under license. TRPR_83201_2 16

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