Disclosure requirements

Borsa Italiana requires, as set out in article 2.6.2 paragraph 4 of the Rules, that issuers having instruments ETCs/ETNs listed on the ETFplus market make available to Borsa Italiana the following information:

a) the official value of the ETC/ETN;

b) the number of ETCs/ETNs outstanding;

c) the value of the underlying of the ETC/ETN where this is not otherwise available to Borsa Italiana.

The manner of fulfilling disclosure requirements and the channels used by issuers of ETCs/ETNs to comply disclosure requirements provided by Borsa Italiana Market Rules are set out in the Instructions where it is specified that:

- On 31st of December issuers of ETFs and ETCs/ETNs shall notify Borsa Italiana in the electronic form it prescribes:

a) the last official value in the case of ETCs/ETNs;

b) financial instruments outstanding.

These communications must be sent annually, within the following 10 days of open exchange, via email.