STATE STREET BANQUE S.A. Remuneration Disclosure Report on Remuneration Policies and Practices for Fiscal Year 2016 STATE STREET BANQUE SA 1

STATE STREET BANQUE S.A. Remuneration Disclosure Report on Remuneration Policies and Practices for Fiscal Year 2016 STATE STREET BANQUE SA 1

Remuneration policy Article 450 REGULATION (EU) No 575/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 26 June 2013 on prudential requirements for credit institutions Institutions shall disclose at least the following information, regarding the remuneration policy and practices of the institution for those categories of staff whose professional activities have a material impact on its risk profile: (a) information concerning the decisionmaking process used for determining the remuneration policy, as well as the number of meetings held by the main body overseeing remuneration during the State Street s overall aim is to attract and retain high-performing employees via its compensation strategy. It is recognised that for the business to succeed, it must remain competitive and cultivate an environment that encourages employees to learn and grow in their careers. There are five key principles that define the State Street compensation strategy: An emphasis on total compensation. A pay-for-performance philosophy. Company, business unit and individual performance drives overall compensation levels. A competitive compensation package to attract and retain key talent. State Street targets the aggregate annual value of the total compensation program to the median of the corporate peer group. An alignment with shareholder interests as reflected through the mix of cash, instruments and equity compensation. Compliance with applicable regulations and related guidance, including limiting incentives to take excessive risks. Through a process of structured discretion in determining IC pool funding and individual incentive award decisions, and the use of deferred awards as a pay delivery vehicle, State Street s compensation system is made appropriately risk sensitive and links current decisions and actions to future risk outcomes. A comprehensive set of factors such as risk and capital are considered in addition to business performance and competitiveness. The Executive Compensation Committee (ECC) has ultimate oversight of the overall compensation system at State STATE STREET BANQUE S.A. 2

and investment firms and amending (EU) No 648/2012 financial year, including, if applicable, information about the composition and the mandate of a remuneration committee, the external consultant whose services have been used for the determination of the remuneration policy and the role of the relevant stakeholders; (b) information on link between pay and performance; (c) the most important design characteristics of the remuneration system, including information on Street. The ECC operates under a charter which was approved by the Board of Directors and the charter is publicly available at State Street s website. Under this charter, the ECC oversees all of State Street s compensation plans, policies, and programs in which senior executives participate and incentive, retirement, welfare and equity plans in which certain other employees of State Street Corporation (SSC) participate. It also oversees the alignment of the incentive compensation arrangements with the State Street s financial safety and soundness consistent with applicable related regulatory rules and guidance. ECC members are senior professionals with strong financial/business knowledge, who are independent members of the Board of Directors of SSC and are appointed by the Board on the recommendation of the Nominating and Corporate Governance Committee of the Board. The ECC members are independently remunerated and do not receive variable pay for their duties. At 31 December 2016, there were five (5) members of the ECC and during 2016 it held nine (9) meetings. State Street has a formal process for integrating the perspectives of its Risk Committee (RC) into compensation decisions made by the ECC. The RC evaluates annually the material risks applicable to State Street, as well as management actions during the year designed to mitigate those risks. The RC then makes recommendations to the ECC as to positive or negative factors to be considered in compensation decisions. These recommendations are presented to the ECC by the Chair of the RC, who is also a member of the ECC. Since 2014, State Street has a process whereby a committee of its Board of Directors reviews the performance assessment and individual compensation recommendations for the heads of the relevant control functions, as well as an overview of the performance and compensation for the entire control function. The committee also has oversight of an area managed by a selected control function. For example, its Examining and Audit Committee conducted these reviews with respect STATE STREET BANQUE S.A. 3

the criteria used for performance measurement and risk adjustment, deferral policy and vesting criteria; (d) the ratios between fixed and variable remuneration set in accordance with Article 94(1)(g) of Directive 2013/36/EU; (e) information on the performance criteria on which the entitlement to shares, options or variable components of remuneration is based; (f) the main parameters to its Chief Compliance Officer and Compliance Department. This process is designed, among other things, to provide the relevant committee with additional perspective on the performance of the relevant control function and whether that function is being allocated appropriate resources and compensation. The ECC has sole authority to retain and terminate any compensation consultants and other advisors used by the ECC to assist in the evaluation of compensation for the CEO and/or other executive officers and approve these consultants and other advisors fees and other retention terms. The ECC currently engages Meridian Compensation Partners, an executive compensation consulting firm, to provide compensation consulting as part of its review of executive compensation. The ECC reviews and approves the compensation of State Street s Chief Executive Officer (CEO) in conjunction with other independent directors of the Board. The CEO and the Chair of the ECC review annually incentive compensation allocations for all Executive Vice Presidents and all employees who receive at least USD $1 million in total compensation, except those under the remit of separate Remuneration Committees that operate in certain EMEA jurisdictions. The ECC approves the overall allocation of the Incentive Compensation plan (IC plan) pool. The CEO allocates IC pools to business units and corporate functions based upon a variety of factors, which may include budget performance, achievement of key goals and other considerations. The final expenditure and overall allocation among current and deferred awards is then reviewed by the ECC prior to payment. Additionally, prior to the formation of a separate UK Remuneration Committee (UK RemCo), the ECC reviewed and approved performance assessments and compensation information for all Material Risk Takers (referred to internally as EU Identified Staff or EUIS) under the remuneration regulations of the European Union. The formation of the UK RemCo in September 2015 was done for a number of reasons, including to promote sound local remuneration STATE STREET BANQUE S.A. 4

and rationale for any variable component scheme and any other non-cash benefits; (g) aggregate quantitative information on remuneration, broken down by business area; (h) aggregate quantitative information on remuneration, broken down by senior management and members of staff whose actions have a material impact on the risk profile of the institution, indicating the following: (i) the amounts of governance practices, to address the increase in specific UK and EU regulatory requirements, to address specific regulatory feedback and to provide focused regional expertise in remuneration matters. The UK RemCo s primary duties are: to review and approve the identification and remuneration of EUIS in the UK; the oversight of compliance with applicable UK remuneration regulatory requirements, including those that have implications for risk and risk management; and the oversight of non-uk EUIS remuneration matters and compliance with applicable EU and local country remuneration regulatory requirements within the EU. The UK RemCo meets at least three (3) times per year and reports annually to the ECC for information purposes. While the UK RemCo is responsible for the review and approval of 2016 compensation for UK EUIS, it also provides oversight (to the extent permissible under its charter) of non-uk EUIS compensation matters. State Street s EMEA/ International Heads of Risk, Compliance, Legal and Finance provide input and attend UK RemCo meetings, as and when requested by the UK RemCo members. From the 2015 performance year, the discretionary business unit allocation process was enhanced through the use of a new business unit-level risk scorecard, which captures qualitative and quantitative data across Risk, Audit, Compliance, Legal and Regulatory areas for every business unit and corporate function. The CEO/Chairman of SSC uses the results of the business unit-level risk scorecard as an input into the pool allocation process as well as the MC sub-allocation process. Individual accountability below MC level (positive or negative) will be assessed as appropriate STATE STREET BANQUE S.A. 5

remuneration for the financial year, split into fixed and variable remuneration, and the number of beneficiaries; (ii) the amounts and forms of variable remuneration, split into cash, shares, sharelinked instruments and other types; (iii) the amounts of outstanding deferred remuneration, split into vested and unvested portions; (iv) the amounts of deferred remuneration awarded during the financial year, paid out and reduced through performance and may inform compensation decisions. The ECC monitors corporate performance throughout the year as an input to its determination of the IC pool for the year. This basis of this review is corporate performance documented in a series of performance scorecards including financial, risk and annual goals scorecards. The 2016 financial budget developed by management and approved by the Board of Directors of SSC in early 2016 formed the basis of the metrics that are tracked in the corporate financial scorecard, which is overseen by State Street s Finance function. In addition, in February 2016, the ECC reviewed proposed annual management goals with a final review and approval at the February 2016 Board of Directors Meeting, which formed the basis of the management goals scorecard. Finally, in January 2017 the RC reviewed and approved the 2016 corporate risk scorecard. The ECC received performance updates for each scorecard in July and December 2016, with an additional financial scorecard update in September 2016. The Committee received the final 2016 overall corporate performance evaluation in early 2017. The Committee s overall evaluation, balancing positive and negative performance outcomes in each of these areas, was a significant factor in determining the size of the 2016 incentive compensation pool. Discretion is exercised by the ECC in setting the corporate IC pool and determining individual allocations from the IC pool in two primary ways. As described earlier, the ECC reviews the corporate IC pool accrual at its meetings throughout the year, and has the ability to apply its discretion based on its assessment of company performance via STATE STREET BANQUE S.A. 6

adjustments; (v) new sign-on and severance payments made during the financial year, and the number of beneficiaries of such payments; (vi) the amounts of severance payments awarded during the financial year, number of beneficiaries and highest such award to a single person; (i) the number of individuals being remunerated EUR 1 million or more per financial year, for remuneration between EUR 1 million and the corporate performance process (i.e., financial, risk, and annual goals scorecards), key regulatory developments, market trends and other factors. Typically, based on State Street s internal process and absent extraordinary circumstances, the ECC exercises its discretion at the January ECC meeting based on the overall year-end performance assessment and the most recent available information on market trends and regulatory developments and requirements. The ECC may also make special one-time adjustments to the corporate IC pool that are appropriate to reflect financial, risk or annual goals performance that are not captured in the corporate performance scorecards, or for other reasons it deems appropriate. The ECC currently engages Meridian Compensation Partners, an executive compensation consulting firm, to provide compensation consulting as part of its review of executive compensation. In making individual incentive awards, State Street permits the use of discretionary adjustments to awards for both financial and non-financial criteria, including (but not limited to) compliance and risk performance factors, such as noncompliance with internal policies and procedures or significant audit findings, instances where there is a significant downturn in the financial performance of, or a material risk management failure in, State Street or a material business unit or subsidiary. The ECC may also exercise negative discretion based on these factors when making awards to members of SCC s Management Committee (MC) and other senior executives. State Street also has a performance planning and review (PPR) process for employee compensation that involves a collaborative planning process in which employees and their managers establish objectives that align the individual s performance with annual corporate goals. Mid-year and year-end reviews are conducted and the employee s performance level is reviewed and rated on a five-point scale ( consistently exceeded expectations, often exceeded STATE STREET BANQUE S.A. 7

EUR 5 million broken down into pay bands of EUR 500,000 and for remuneration of EUR 5 million and above broken down into pay bands of EUR 1 million; (j) upon demand from the Member State or competent authority, the total remuneration for each member of the management body or senior management. expectations, consistently achieved expectations, sometimes achieved expectations and unacceptable performance ). This rating is a key factor used by managers in determining incentive compensation and salary decisions during the annual compensation planning process. Typically, employees receiving a rating of sometimes achieved expectations or lower will receive a much-reduced or zero IC award. Performance management employs consistent processes to cascade goals, create "line of sight" and measure actual individual and organizational performance. Frequent feedback is a critical element of the PPR process. The PPR process is a three-stage approach to performance management. The first stage, called Performance Planning, involves the employee and manager working in partnership to ensure that performance goals and targets, skills and behaviors, and development goals are collaboratively set for every employee at the beginning of the year. Goals are recorded in the PPR application with final approval being given by the manager. Stage two focuses on the facilitation of regular review and feedback between the employee and manager throughout the year. The third stage is the completion of a year-end review by mid-december and includes a performance level descriptor. From the 2015 performance year, an additional rating metric (the Risk Excellence rating) was introduced to the PPR process to measure employees risk and conduct performance. The Risk Excellence rating is intended to inform the overall performance evaluation as well as compensation decisions. Where applicable, individual financial targets will be incorporated into the Performance Planning stage of the PPR process and the level of achievement against these financial goals will form part of the year-end review process and contribute to the performance rating along with a qualitative assessment. In addition to the PPR process, State Street s Talent and Reward Differentiation Tool (TRDT) assists managers in STATE STREET BANQUE S.A. 8

making compensation decisions. The TRDT allows managers to assign a relative score (on a seven-point scale) to employees at the Vice President level and above based on five factors. These include relative performance, potential, criticality of role, critical skills or expertise and retention risk, and combined with the PPR rating, are used to help guide compensation decisions. For EUIS, the IC award can be delivered in two separate elements: the immediate non-deferred award (an Immediate Cash award delivered in cash and an Immediate Equity award delivered in equity) and the deferred award (delivered partly in equity and partly in cash that notionally tracks a money market instrument). More significant deferral and instrument thresholds are in place for more senior staff. Immediate Award ( Immediate Cash and Immediate Equity ): This is the portion of the IC that is delivered immediately following the date of communication of the award to the employee. This typically takes place during the first quarter following the year to which the award relates. An Immediate Equity award received by EUIS immediately vests in full upon grant but can only be sold or transferred after a 6-month retention period. Deferred Award: All deferred equity is awarded in the form of Deferred Stock Awards (DSAs). DSAs are effectively a contractual right to receive, on each vesting date, a set number of shares in the common stock of SSC, subject to applicable recovery terms, which may include malus, clawback, forfeiture, restrictive covenants STATE STREET BANQUE S.A. 9

and other conditions. The number of shares to be delivered on each vesting date is set at the award date, but may be adjusted between the award date and each vesting date through ex-post performance adjustment measures. To comply with regulatory requirements, all Deferred Equity awarded to EUIS is generally subject to a 6-month retention period post-vest during which the recipient is prohibited from sale or other transfer of the Deferred Equity. Also for EUIS, DSAs vest on an annual pro-rata basis over four years following the award date. Note that for the 2016 performance year, a proportionality position could be taken such that these regulatory requirements do not apply, meaning that DSAs vest in line with standard State Street IC design (i.e. on a quarterly pro-rata basis over four years with no retention period post-vest). In order to reduce employee concentration in SSC stock that would result from using equity instruments alone to deliver the entirety of the deferred award, in 2013 State Street introduced a non-equity deferral vehicle, called the Deferred Value Award (DVA). DVAs notionally track the value of the SSGA Prime Money Market Fund and are delivered in cash on the vesting date. The earnings credited to the DVAs vary based on the actual performance of the SSGA Prime Money Market Fund; however, there is no ownership interest in the Fund or any other actual investment. Earnings generally result in the credit of additional notional units as the money market fund is managed to a $1.00 unit share price. Similar to DSAs, DVAs may be adjusted between the award date and each vesting date through ex-post performance adjustment measures. DVAs vest on a quarterly basis over four years. State Street Banque S.A. has obtained the relevant shareholder approvals to extend the default maximum variable to STATE STREET BANQUE S.A. 10

fixed pay ratio from 1x fixed compensation to 2x fixed compensation and such has been notified to the Autorité de Contrôle Prudentiel et de Résolution (ACPR). This process of obtaining shareholder approval and notifying the ACPR was implemented for consistency with other CRD regulated groups. However, in practice this restriction did not impact the compensation of any employees of State Street Banque S.A. for the 2016 compensation year. State Street s pension policy is in line with the business strategy, objectives, values and long-term interests of the bank and its shareholders. To ensure compliance with the requirements of the CRD, State Street does not operate a discretionary pension plan. Personal hedging strategies or any other form of insurance policy to limit risk alignment by employees is prohibited. State Street applies a globally consistent policy on guaranteed bonuses and buy-out awards. For guarantees, where a strong business case can be made to justify such an award, this rationale will be reviewed along with the individual facts and circumstances of the award. Any such awards that are proposed must meet the following criteria: Awards must be only made to new hires Awards must not last longer than 12 months Awards may only be made in exceptional circumstances At the time of payment, sufficient equity, liquidity and capital resources are available Multi-year guarantees in the hiring process are forbidden. State Street may, from time to time, buy out existing awards for new hires. Where this is the case, State Street will, as STATE STREET BANQUE S.A. 11

far as possible, match but not exceed the quantum of existing awards and structure (including vesting schedule) of existing awards. Buy-outs are subject to the deferral requirements of the relevant regulations and appropriate evidence is sought of existing awards prior to the award of a buy-out. See the below table data for relevant quantitative information. Governance Article 15 November 3, 2014 The remuneration of the persons in charge of the validation of the operations is set independently from the functions for which they have to validate or check the operations, and must be set at an adequate level so that there are qualified and experienced people. Each control function has a reporting line which is independent from the business units which they support. Each function has a reporting line which feeds into a European or Global Head for the control function. The global management for each respective control function is responsible for determining compensation to control function staff, within overall State Street guidelines that ensures sufficient fixed pay and an appropriate balance between fixed and variable components. Funding and performance assessment for these employees is based on overall corporate results and not by reference to the business units which individual control function employees support. The IC payable to senior risk and compliance officers in France is reviewed by the UK RemCo as part of its non-uk oversight responsibilities. The remuneration needs STATE STREET BANQUE S.A. 12

to take into account the achievement of the objectives associated to the function. Governance Article 104 November 3, 2014 For the application of Article L.511-89 of the Monetary Code, covered institutions for which total assets is above 5 billion euros establish a risk committee, an appointment committee and a remuneration committee. State Street Banque S.A. assets do not exceed 5 billion euros. On that basis, State Street Banque S.A. has not established a remuneration committee. As part of State Street s robust remuneration governance, the ECC and UK RemCo are in place. Relevant details on these committees have been provided in the preceding sections. Other institutions than the ones listed under Articles L. 511-89 and L. 533-31 STATE STREET BANQUE S.A. 13

of the Monetary Code, who establish voluntarily a committee named under Article L511-89, have to be in compliance with the rules of such committee. Remuneration Article 202 November 3, 2014 Covered entities ensure that the remunerations of the persons listed in Article L.511-71 of the Monetary Code and if any in application of the EU regulation n 604/2014 dated March 4, 2014 are granted and paid in compliance with State Street Banque S.A. is under the balance sheet threshold of 10 billion euros for the application of the articles L511-71 to L511-88 of the Monetary Code (FMC). As a consequence, proportionality measures can apply to State Street Banque S.A. and articles L511-71 to L511-88 of the FMC have been adopted in a way appropriate to the size and complexity of the entity. This includes the adoption of a specific remuneration policy that promotes the longterm interests of the group, such as identification of EUIS and implementation of measures regarding remuneration limitation, deferred payments and financial instrument awards. In general, State Street operates a fully flexible, discretionary bonus policy (i.e. the amount of individual variable pay may fluctuate significantly from one year to the next, depending on performance and the other factors described below, and could be reduced to zero for any given year). The discretionary bonus policy is structured so as to STATE STREET BANQUE S.A. 14

articles L. 511-71 to L. 511-88 of the Monetary Code and if any, in compliance with delegated regulations issued by the European council. Covered entities also ensure compliance with the rules set in the November 3, 2014. achieve a balance between fixed and variable components. The corporate IC pool is based on the overall profits of the entire State Street group of companies. The primary component in the calculation of the IC pool is operatingbasis 1 Net Income Before Tax and Incentive Compensation (NIBTIC). The ECC reviews operating-basis NIBTIC calculations and identifies any applicable adjustments to reflect its assessment as to elements of revenues and expenses that should apply, should not apply or should apply differently for IC purposes. The ECC has flexibility to adjust the overall global IC pool and, in doing so, evaluates a number of factors, including capital, risk, business and other considerations. Specific capital measurements taken into consideration include, for example, the Tier 1 riskbased capital ratio; the tangible common equity ratio; unrealised portfolio gains and losses; and the Tier 1 leverage ratio. The allocation of the overall global bonus pool to each business unit is determined by the CEO/Chairman by reference to business unit performance and considers many factors including those considered by the ECC. The sub-allocation of the business unit bonus pool to an individual is then also further determined by an individual s business manager with reference to the individual s performance measured on both financial and non-financial criteria, including (but not limited to) compliance and risk performance factors, such as non-compliance with internal policies and procedures or significant audit findings, instances where there is a significant downturn in the financial performance of, or a material risk management failure in, State Street or a material business unit or subsidiary. The 1 State Street measures and reports its financial performance in accordance with U.S. generally accepted accounting principles, or GAAP. It also separately measures and compares its financial performance on an operating basis, which reflects revenue from non-taxable sources on a fully taxable-equivalent basis and excludes the impact of revenue and expenses outside of the normal course of its business. State Street reviews its results on an operating basis, as these results, in addition to results presented in accordance with GAAP, facilitate comparisons from period to period and the analysis of comparable financial trends with respect to State Street s normal ongoing business operations. STATE STREET BANQUE S.A. 15

ECC may also exercise structured negative discretion (i.e. to adjust the pool down) based on these factors when making awards to members of the MC and other senior executives. Material Risk Takers Articles 2, 3 and 4 COMMISSION DELEGATED REGULATION (EU) No 604/ 2014 of 4 March 2014 Without prejudice to the obligation imposed on the competent authority to ensure that institutions comply with the principles set out in Articles 92, 93 and 94 of Directive 2013/36/EU for all categories of staff whose professional activities have a material impact on an institution's risk profile pursuant to Article 92(2) of that Directive, staff who State Street has taken a robust approach to identifying EUIS within its businesses and subsidiaries across EMEA, as set out below. There is also a separate process to identify Material Risk Takers (FRB MRTs) globally in accordance with applicable US law and related implementing regulations and guidance, including the guidance of the US Federal Reserve Board. Process QUALITATIVE REVIEW OF THE EUIS IDENTIFICATION In recognition of the fact that individuals may be EUIS without meeting specific criteria under the EBA Regulatory Technical Standards (RTS), 2 State Street took a broad interpretation when identifying potential EUIS. Having done this, State Street then went through a detailed process of review for each individual, considering their role, responsibility, independent authority, and potential ability to impact on State Street s main risks to determine if it was felt that this individual should be captured as EUIS, even if they did not meet a specific qualitative criterion. Recommendations (including detailed documentation in any areas open to interpretation) were reviewed and discussed by a working group made up of representatives of GHR (Global Human Resources), Legal, Compliance, 2 (EU) No 604/2014 STATE STREET BANQUE S.A. 16

meet any of the qualitative criteria set out in Article 3 of this or any of the quantitative criteria in Article 4 of this shall be identified as having a material impact on an institution's risk profile. Finance and Risk, then signed off by a committee made up of senior EMEA or International heads of these functions, known as the EUIS Steering Committee. In addition, heads of each business unit or corporate function were separately asked to review and approve the EUIS list for their populations to ensure that the appropriate individuals were identified. QUANTITATIVE EXCLUSIONS OF THE EUIS IDENTIFICATION The detailed qualitative review provided an important input into State Street s exclusion approach for EUIS. In a number of cases, the exclusions were reviewed as part of the original review process (prior to the production of the qualitative list). As such, their role and responsibilities had already been reviewed by both the relevant business head and members of the Risk department and it had been agreed that they could not materially impact State Street s risk profile or expose State Street to a material level of harm and so should not be included in the qualitative EUIS list. However, as these individuals were identified under Article 4 of the RTS, a secondary review was then carried out by GHR, with verification and input from the relevant business head and Risk where appropriate. The role and responsibilities of each individual were carefully reviewed and a number of factors were specifically considered. Remuneration valuation For the purposes of this, remuneration which has been awarded but has not yet been paid See table data below STATE STREET BANQUE S.A. 17

Articles 5 COMMISSION DELEGATED REGULATION (EU) No 604/ 2014 of 4 March 2014 shall be valued as at the date of the award without taking into account the application of the discount rate referred to in Article 94(1)(g)(iii) of Directive 2013/36/EU or reductions in payouts, whether through clawback, malus, or otherwise. All amounts shall be calculated gross and on a full-time equivalent basis. STATE STREET BANQUE S.A. 18

Information on Remuneration Granted to EUIS for Financial Year 2016 The information below is presented in accordance with the requirements of the template provided in the Norme Professionelle FBF of March 8 th, 2011. It has been prepared in a manner appropriate to the size, internal organization, nature, scope and complexity of State Street Banque S.A. according to Article 450 (2) of (EU) No 575/2013. Senior Management Other EUIS Remuneration paid for the financial year (in EUR k) Number of beneficiaries 6 11 Total Compensation 3,693 3,759 Total Fixed Remuneration 2,004 2,483 Total Variable Remuneration: 1,689 1,276 of which cash 104 197 of which shares 878 571 of which share-linked instruments 707 508 of which other 0 0 Total Sign-On Payments 0 0 Total Severance Payments 0 0 STATE STREET BANQUE S.A. 19

Total Guaranteed Severance Payments 0 0 Highest Guarantee Paid 0 0 All Outstanding Deferred Remuneration of which vested 0 0 of which unvested 3,486 1,997 Deferred Remuneration in Financial Year of which awarded 1,499 1,051 of which paid out 1,626 822 of which reduced through performance adjustments 0 0 Number of EUIS being remunerated in the ranges of (in EUR) Band 1: above 1.0 million not exceeding 5.0 million 1 above 1.0 million not exceeding 1.5 million 0 above 1.5 million not exceeding 2.0 million 1 above 2.0 million not exceeding 2.5 million 0 STATE STREET BANQUE S.A. 20

above 2.5 million not exceeding 3.0 million 0 above 3.0 million not exceeding 3.5 million 0 above 3.5 million not exceeding 4.0 million 0 above 4.0 million not exceeding 4.5 million 0 above 4.5 million not exceeding 5.0 million 0 Band 2: above 5.0 million not exceeding 6.0 million 0 STATE STREET BANQUE S.A. 21