Index Services - Disclaimers

IMPORTANT INFORMATION

Northern Trust Corporation is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in North America, Europe, the Middle East and the Asia-Pacific region.

Northern Trust is the owner of any trademarks, service marks and copyrights related to its respective indexes. Index Data is provided by Thomson Reuters, Interactive Data Corporation, and Northern Trust Index Services. Performance returns displayed on this page are shown as Total Return or Net Total Return depending on whether the index universe is inclusive of US or non-US securities. Northern Trust's publication of the Northern Trust Indexes in no way suggests or implies an opinion by Northern Trust as to the attractiveness or appropriateness of investments in any or all securities upon which the Northern Trust Indexes are based.

All information presented prior to the index inception date is back-tested. Backtested performance is not actual performance, but instead hypothetical. The backtest represents a reasonable attempt to replicate how the index would have performed at each point in history. Returns produced by backtested results should be considered approximate to what the index would have returned had it actually been live, while trading/transaction costs, data availability, etc are not factored into the return. Past performance of the Indices is not an indication of future results. Prospective application of the methodology used to construct the Indices may not result in performance similar to the back-test returns shown. The backtest period does not necessarily correspond to the entire available history of the Index. For more details about the indices, including the manner in which they are rebalanced, the timing of such rebalancing, criteria for additions and deletions, as well as all index calculations, please refer to the methodology documents.

Another limitation of backtested hypothetical information is that generally the backtested calculation is prepared with the benefit of hindsight. Backtested data reflect the application of the index methodology and selection of index constituents in hindsight. No hypothetical record can completely account for the impact of financial risk in actual trading. For example, there are numerous factors related to the equities (or fixed income, or commodities) markets in general which cannot be, and have not been accounted for in the preparation of the index information set forth, all of which can affect actual performance.

Indexes and/or benchmarks are unmanaged and cannot be invested in directly. Returns represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment.

LIMITATION OF LIABILITY

No Liability for Content; No Liability Arising from Use: Although the information provided to you on this web site is obtained or compiled from sources we believe to be reliable, Northern Trust cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose. Neither Northern Trust, nor any of its affiliates, directors, officers or employees, nor its successors or assigns, nor any third-party vendor, will be liable or have any responsibility of any kind for any loss or damage that you incur, arising from any failure or interruption of this web site, or resulting from the act or omission of any other party involved in making this web site, the data contained herein or the products or services offered on this web site available to you, or from any other cause relating to your access to, inability to access, or use of the web site or the data contained herein, whether or not the circumstances giving rise to such cause may have been within the control of Northern Trust or of any vendor providing software or services. In no event will Northern Trust or any such parties be liable to you for any direct, special, indirect, consequential, punitive, exemplary or incidental damages or any other damages of any kind even if Northern Trust or any other such party has been advised of the possibility thereof.

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Where any applicable law does not allow the limitation of liability in the manner described above, Northern Trust's total liability to you for all damages, loss and causes of action (whether in contract or in tort, including gross negligence) shall not exceed the amount paid by you, if any, for accessing the website.

Content not to be construed as solicitation or recommendation; no determination of suitability; not all risk disclosed The material on the web site is for informational purposes only, and is not an offer or recommendation to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. Further, none of the information and material on the web site is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction.

SYSTEM OUTAGES, SLOWDOWNS, AND CAPACITY LIMITATIONS

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PROPRIETARY RIGHTS

The Northern Trust Indexes and materials contained therein is proprietary to Northern Trust and is provided for informational purposes only. None of the materials or information contained herein shall be reproduced, copied, disclosed, distributed or used, in whole or in part, in any form, other than for your personal, noncommercial use, without the prior written consent of Northern Trust. Copyright 2015 The Northern Trust Company. All Rights Reserved.