FOR PROFESSIONAL INVESTORS

BNP Paribas Investment Partners Corporate PresentationMay 2015

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Delivering meaningful and long-lasting solutions to our clients

As a multi-local asset manager, we prioritise proximity

to our clients and strive for their success.

As one of the first signatories to the United Nations’ Principles for

Responsible Investing (UN PRI), we innovate to reinforce environmental,

social and corporate governance.

We favour investment autonomy so our managers apply their

convictions and specific market knowledge in order to develop the best

solutions for our clients.

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By region By asset classBy client

4%

6%

10%

16%

19%

45%

MiddleEast -Africa

Americas

Asia Pacific

Rest ofEurope

Benelux

France

We are the 7th largest European asset manager(1)

€548 billion assets under management and advisory(2)

(1) Source: BNPP IP, as of 31 December 2014

(2) Source: BNPP IP, as of 31 March 2015

(3) Includes HFT Investment Management participation and TKB BNP Paribas Investment Partners

(4) Includes Structured and Currency Overlay Investments

33%

67%

Distribution, Retail & Private Banking

Institutional(3)

4%

14%

18%

23%

41%

Alternatives(4)

MoneyMarket

Equity

Balanced

FixedIncome &

Convertibles

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Close to our clients in 36 countries(1)

Our multi-cultural network of 3 200 professionals(1) allow us to adapt to our clients’ local needs, expectations

and regulatory requirements

(1) Source : BNPP IP, as of 31 March 2015

(2) EEMEA: Eastern Europe, Middle East and Africa

Europe (59%) Asia-Pacific (25%)

North America (5%) Latin America (4%) Nordics (4%) EEMEA(2) (3%)

France

Belgium

UK

Netherlands

Luxembourg

Germany

Italy

Spain

Switzerland

Austria

Portugal

Greece

Japan

China

Hong Kong

Singapore

Taiwan

South Korea

Indonesia

Malaysia

India

Australia

New York

Boston

Chicago

Toronto

Brazil

Mexico

Chile

Argentina

Colombia

Sweden

Norway

Finland

Morocco

Turkey

Bahrain

Russia

Investment & Sales Centres

Sales Centres

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Delivering to clients through 3 business lines (1/2)

(1) PARVEST is a UCITS IV Compliant SICAV registered under the Luxembourg law. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment.

Engage with participants in the local

markets in which we invest and where

our clients are located

Commit our resources to develop our

client relationships into true long-term

partnerships

Achieve top-class results for our clients

by promoting investment excellence

throughout our culture

Offer our distributors a unique platform

of products and services, in order to

assist them in serving their own clients

Propose tailored investment solutions for

each distributors’ client segments, based

on a well diversified product range,

starting with our international flagship

Parvest(1)

Expand the partnership with our

distributors

Be a local Emerging market expert

which provides investment solutions to

the highest international standards

Provide clients with bespoke service,

based on expertise from our unique

footprint in the Emerging world (local

presence in 17 countries)

Accompany our clients towards

tomorrow’s major trends, such as the

internationalisation of the remminbi

(RMB)

Institutional Distribution APAC & Emerging

Our mission Our mission Our mission

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An extensive range of investment expertise(1)

(1) Source : BNPP IP, February 2015

Global Sectors

Global Equity

Global Listed Real Estate

High Income Equity

Low Volatility Equities

US Equities – Large & Small Caps

Japan Equities

Australia Equities

Europe Equity - Large Cap

Europe Equity – Micro, Small & Mid Caps

Nordic Equity

SRI Equities

SRI Fixed Income

SRI Balanced Strategies

SRI Structured - EasyETF

SRI Protected & indexed

IMPAX - Environmental Strategies

FundQuest Advisor

Third party fund and manager selection

Global Short Duration

Global Sovereign & Aggregate Fixed Income

Global Investment Grade Credit & High Yield

US Money Market

US Short Duration

US Core/Core Plus

US High Yield

European Money Market

Euro Sovereign & Aggregate Core Fixed Income

European Investment Grade & High Yield

Nordic Fixed Income

Corporate Loans

Inflation-linked bonds

Mortgages

Alternative & Structured Fixed Income

Convertible Bonds – Global and Regional

Currencies

Absolute Return

Risk-graded

Multi-asset income

Flexible/diversified growth

Multi-management

Lifecycle

LDI & fiduciary management

Dynamic risk management

Global

Global Emerging Markets Equity

Frontier Markets Equity

Global Emerging Markets Fixed Income

Sharia Compliant fixed income (Global Sukuk)

Regional

Asia ex-Japan Equity

Asia ex-Japan Fixed Income

ASEAN (South East Asia) Equity

Greater China Equity

Latin America Equity

Emerging Europe Equity

Emerging Europe Fixed Income

Country

Argentina Equity & Fixed Income

Brazil Equity & Fixed Income

Chile Equity & Fixed Income

China Onshore Equity & Fixed Income

India Equity & Fixed Income

Indonesia Equity & Fixed Income

Morocco Equity & Fixed Income

Russia Equity & Fixed Income

South Korea Equity & Fixed Income

Turkey Equity & Fixed Income

CamGestion (France)

Wealth management boutique

BNPP E&RE

Employee savings schemes

Company retirement investment products

Developed Equities

Sustainable Investments

Advisory

Developed Fixed Income Emerging Markets

Multi Asset Solutions

Specialised Investments

Protected investment

Campaign Funds

Permanent protection

Target Date solutions

Index

Indexed Funds

ETF

Model Driven

Smart Beta solutions

Cross Asset solutions

Protection, Index & Model driven

Alternative InvestmentsHedge Fund Solutions

Private Equity

Incubation

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New accolades for Korea and Indonesia at The Asset's Triple A Awards 2014

BNP Paribas Investment Partners Indonesia and Korea won Best asset management

company of the year at the Asset’s Triple A Awards 2014.

BNPP IP most favourite fund house 2014 & most favourite fixed income funds in

Indonesia

BNPP IP Malaysia wins four Awards at EPF Portfolio Managers Awards

Multiple awards success for TKB BNP Paribas Investment Partners (TKB BNPP IP)

• Seven of TKB BNPP IP’s analysts and portfolio managers were rated among the top

of Russia’s buy-side individuals in the 2014 Thomson Reuters Extel survey.

• Russia’s National Rating Agency has awarded TKB BNPP IP an AAA rating,

prolonging TKB BNPP IP’s top rating which it has held since 2007.

• Recognised as best asset manager of non-state pension funds (NAUFOR)

BNP Paribas Asset Management Brazil in top 5 of Brazilian central bank

The Brazilian central bank has released its top-5 institutions ranking for inflation

and short-term interest rate forecasts during 2013.

Worldwide recognition (1/2)

The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay. Past performance or achievement is not indicative of current or future performance. Investors

should ensure that they are fully informed about the sub-funds, classes and sub-classes of shares that are authorised to be marketed in their country of residence and the constraints applicable in each of the countries.

SRIInvestor Awards 2014: BNPP IP wins SRI award (Boursorama & Morningstar)

25,000 online voters selected BNPP IP as the company most committed to the

environment and sustainable development in 2014.

Impax Asset Management receives numerous awards for its expertise

• Queen’s Award for Enterprise: Sustainable Development in the UK.

• Investment Week's Sustainable Investment Awards, two awards: Best Environmental

Fund Management Group and Best Environmental Fund

Parvest Green Tigers recognised by LuxFLAG for its environmental focus

Parvest Global Environment obtains Austrian & German fund Fondspreis awards (Fonds

Professionell)

14 of our SRI funds have received Novethic 2014 labels

For the 2nd year in a row, De Tijd and L’Echo awards for the best pension fund in

Belgium

In the Netherlands, Cash Fund Awards for Parvest Bond Asia ex-Japan (category: bonds

regular global currency aggregate) and Parvest Equity Japan Small Cap (category: equity

Japan)

In Belgium, BNPP IP and its Parvest range are ahead with eight funds in the top 100 of

best-performing funds in 2014.

BENELUX

APAC & EMERGING

ITALY

BNPP IP Italy third-time winner of institutional award

For the third year in a row, BNP Paribas Investment Partners Italy has won the International

Award Le Fonti for Excellence in Institutional Asset Management.

LIPPER FUND AWARDSAt the Lipper Fund Awards Europe, BNPP IP won three prizes for the three- and five-year

returns by its funds, besides some 70 local Lipper awards

For the second year in a row, BNPP IP India is awarded equity fund house - best group

over three years

INNOVATIONGlobal Investor Investment Excellence Awards 2014 for RMB Short Duration Bond Fund

for most innovative fund launch of the year: Asia.

BNPP IP named most innovative asset management companyIslamic Finance News (IFN) announced the results of its 2013 Islamic Investor Poll, which

ranked BNPP IP first in the category most innovative asset management company.

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Worldwide recognition (2/2)

FRANCE

The Corbeilles Mieux Vivre Votre Argent awards 2014

BNP Paribas is awarded first prize in the retail banking category for the best fund

range offered to individual clients in France:

• Corbeille long-term range (5-year performance)

• Best equity range (5-year performance)

• Best equity savings plan (“PEA”) range ( 5-year performance)

The SICAV Awards 2014, Le Revenu

• Top prize (Trophée d’Or) for the best fund range in the European equities category

/ 3 year CAMGESTION

• Top prize (Trophée d’Or) for the best fund range in the European bonds category/

3-year CAMGESTION

• Third prize (Trophée de Bronze) for the best fund range in the international bonds

category / 3-year

• Prize for the best fund range in the international equities (Parvest Equity USA Small

Cap)

Parvest, Best advertising campaign in 2014, Option Finance

BNPP IP was delighted to see Parvest win the 2014 award in the best advertising

campaign category. This award was attributed by Option Finance, together with

Funds Magazine and Deloitte.

THEAM receives two awards from amLeague-NEWSManagers 2014

On the occasion of Agefi’s 13th Asset Management Forum, THEAM received two

awards during the awards ceremony organised in partnership with amLeague-

NEWSManagers.

Actifs du Patrimoine 2014 : actifs de la distribution & actifs de l'innovation

• Two top prizes (Actifs d’Or de la Distribution) for “Fonds de moins d’un an réseaux

(BNP Paribas Obliselect Global High Yield 2019 P)” and “Fonds obligataires réseaux

(Fondo BNPP Seicedole)”

• Third prize (Actifs de Bronze de l’Innovation) for THEAM: Parworld Track Actions

fund range

The 2014 Globes de la Gestion awards, ‘Gestion de Fortune’

BNP Paribas Investment Partners wins in the SRI (socially responsible investment)

bond fund category for Parvest Sustainable Bond Euro Corporate.

Pyramids Asset Management Awards, Investissement Conseils

BNP Paribas Small Cap Euroland was awarded best euro area equity fund.

Labels Mieux Vivre Votre Argent

Parvest Equity Europe Small Caps (European equities), CamGestion Actions France

(French equities) and BNP Paribas Obli Credit (eurozone bonds).

BNPP IP ranks 9th in the 2014 Alpha League Table, Les Echos

For the first time since the prize was created, BNPP IP has been ranked in the top

10 of the 2014 Alpha League Table in France which recognises top asset managers

for their ability to generate alpha in equity management.

BNPP IP ranks first in the amLeague table (European equities), Agefi Hebdo

Actifs du Patrimoine 2014 : actifs de la distribution & actifs de l'innovation

• Two top prizes (Actifs d’Or de la Distribution) for “Fonds de moins d’un an réseaux

(BNP Paribas Obliselect Global High Yield 2019 P)” and “Fonds obligataires réseaux

(Fondo BNPP Seicedole)”

• Third prize (Actifs de Bronze de l’Innovation) for THEAM: Parworld Track Actions

fund range

The 2014 Globes de la Gestion awards, ‘Gestion de Fortune’

BNP Paribas Investment Partners wins in the SRI (socially responsible investment)

bond fund category for Parvest Sustainable Bond Euro Corporate.

Pyramids Asset Management Awards, Investissement Conseils

BNP Paribas Small Cap Euroland was awarded best euro area equity fund.

Labels Mieux Vivre Votre Argent

Parvest Equity Europe Small Caps (European equities), CamGestion Actions France

(French equities) and BNP Paribas Obli Credit (eurozone bonds).

BNPP IP ranks 9th in the 2014 Alpha League Table, Les Echos

For the first time since the prize was created, BNPP IP has been ranked in the top

10 of the 2014 Alpha League Table in France which recognises top asset managers

for their ability to generate alpha in equity management.

BNPP IP ranks first in the amLeague table (European equities), Agefi Hebdo

The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay. Past performance or achievement is not indicative of current or future performance. Investors

should ensure that they are fully informed about the sub-funds, classes and sub-classes of shares that are authorised to be marketed in their country of residence and the constraints applicable in each of the countries.

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The 7th largest European asset manager(1)

EUR 548 billion(2) in assets under management and advisory

Backed by BNP Paribas Group, one of the best rated banks in the world (A+)(5)

Highlights: financial stability, transparency, rigorous risk and compliance control

More than 700 investment professionals(2) and many investment partners offering one of the

broadest and deepest ranges of solutions in the industry

Around 3 200 employees in 36 countries and 60 investment centres(2)

A common culture of building meaningful and long-lasting solutions for our clients,

with around 600 client facing staff(2)

Fitch Ratings(3) Asset Manager rating: Highest Standards, Stable Outlook

ISAE 3402 Type II Report (previously SAS-70 certification)(4)

BNP Paribas Investment Partners in one page

(1) Source: BNPP IP, as of 31 December 2014

(2) Source: BNPP IP, as of 31 March 2015

(3) Source: Fitch Ratings, as of 19 September 2014: scope for IP includes

BNPP AM, THEAM and FFTW

(4) Source: Deloitte, as of December 2014

(5) Source: Standard & Poor’s, as of 3 July 2014

Backed by BNP Paribas

Group

A rigorous investment

approach

A multi-specialist model

Strong worldwide presence

Client-focused organisation

Leading asset manager

TM

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To find out more and contact us

www.bnpparibas-ip.com linkedin.com/bnp-paribas-

investment partners

youtube.com/BNPPIP

investors-corner.bnpparibas-ip.com@BNPPIP_COM

WWW

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The Asset Management entity within BNP Paribas Group(1)

(1) Source : BNPP IP, as of 11 February 2015

BNP Paribas

Corporate &

Institutional

Banking (CIB)

Retail Banking

& Services

(RB&S)

International

Financial

Services (IFS)

Domestic

Markets (DM)

BNP Paribas

Investment

Partners

BNP Paribas

Wealth

Management

BNP Paribas

Real Estate

International

Retail Banking

BNP Paribas

Personal

Finance

BNP Paribas

Cardif

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Our clients can also count on the expertise of our partners (1/2)

Global and regional fixed income

Locations: Boston, London, New York, Paris

Highly commended US Fixed Income Manager (MBS) in the 2012

Global Investor/ ISF Investment Excellence Awards

Resource Efficiency and Environmental Markets

Locations: London, New York, Hong Kong, Portland

Around 25% owned by BNP Paribas Investment Partners

Sustainable Investor of the Year at 2013 FT/IFC Sustainable Finance

Awards and received the Queen’s Award for Entreprise: Sustainable

Development in 2014

Capital Protection. Indexing. Model Driven Investment

Location: Paris

1st European industry player to adopt indices excluding controversial

weapons for its range of indexed open-ended funds

External funds selection

Locations: London, Paris, Singapore

The third party selection specialist of BNP Paribas, covering the

world's top financial markets from Paris, London and Singapore

Nordic & Emerging Europe investments

Locations: Helsinki, Oslo, Stockholm

More than 150 years of achievement

Collective employee saving plans and retirement investment

Location: Paris

The 3rd player in collective employee saving plans in terms of assets

under management.

Bookeeper of more than 1.2 million employees accounts for collective

savings plans and retirement plans.Source: the French Asset Management Association - AFG

Alternative Investments selection

Locations: Paris, Amsterdam, Montreal

The alternative investment selection specialist of BNPP IP, with

experts in the fields of hedge funds, private equity and incubation and

the capacity to customize investment solutions

Wealth management

Location: Paris

2 top prizes ('Trophées d'Or') in the “Trophées du Revenu 2014”: best

European Equities fund range and best European Fixed Income fund

range, both in the retail banking category (3-year performance)

GLOBAL

ADVISORY

EUROPE

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Our clients can also count on the expertise of our partners (2/2)

Australian Equity fund manager

Location: Sydney

Named ‘Best Boutique Australian Equities Manager’ at the 2012

Australian Fund Manager Awards

Chilean asset manager specialising in domestic market investments

Location: Santiago de Chile

Second biggest player in terms of number of clients (264,000)Source: Chilean Mutual Funds Chamber, as of July 2014

Chinese investment manager

Locations: Hong Kong, Shanghai

Maintains the Fitch Rating of “Highest Standard (Chn)” since 2008Source: Fitch Ratings, 2014

South Korean investments

Location: Seoul

The fourth largest asset manager in KoreaSource: Shinhan BNP Paribas Asset Management, Korea Financial

Investment Association, as end of April 2014. Institutional mandates are

included.

Turkish mutual fund manager

Location: Istanbul

The largest Turkish equity asset manager for international clientsSource: TEB Asset Management, as of July 2014

Russian investments

Locations: Moscow, Saint Petersburg

Seven of TKB BNPP IP’s analysts and portfolio managers were rated

among the top of Russia’s buy-side professionals Source: 2014 Thomson Reuters Extel Survey/ NAUFOR

APAC & Emerging – Joint Ventures only

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DisclaimersThis material is issued and has been prepared by BNP Paribas Asset Management SAS (BNPP AM)* a member of BNP Paribas Investment Partners (BNPP IP)**.

This material is produced for information purposes only and does not constitute:

1. an offer to buy nor a solicitation to sell, nor shall it form the basis of or be relied upon in connection with any contract or commitment whatsoever or

2. any investment advice.

This material makes reference to certain financial instruments (the “Financial Instrument(s)”) authorised and regulated in its/their jurisdiction(s) of incorporation.

No action has been taken which would permit the public offering of the Financial Instrument(s) in any other jurisdiction, except as indicated in the most recent prospectus or Key Investor Information Document (“KIID”), offering document or any other information material, as applicable, of the relevant Financial Instrument(s) where such action would be required, in particular, in the United States, to US persons (as such term is defined in Regulation S of the United States Securities Act of 1933). Prior to any subscription in a country in which such Financial Instrument(s) is/are registered, investors should verify any legal constraints or restrictions there may be in connection with the subscription, purchase, possession or sale of the Financial Instrument(s).

Investors considering subscribing for the Financial Instrument(s) should read carefully the most recent KIID or prospectus, offering document or other information material and consult the Financial Instrument(s)’ most

recent financial reports. The KIID or prospectus, offering document or other information of the Financial Instrument(s) are available from your local BNPP IP correspondents, if any, or from the entities marketing the Financial Instrument(s).

Opinions included in this material constitute the judgment of BNPP AM at the time specified and may be subject to change without notice. BNPP AM is not obliged to update or alter the information or opinions contained within this material. Investors should consult their own legal and tax advisors in respect of legal, accounting, domicile and tax advice prior to investing in the Financial Instrument(s) in order to make an independent determination of the suitability and consequences of an investment therein, if permitted. Please note that different types of investments, if contained within this material, involve varying degrees of risk and there can be no assurance that any specific investment may either be suitable, appropriate or profitable for a client or prospective client’s investment portfolio.

Given the economic and market risks, there can be no assurance that the Financial Instrument(s) will achieve its/their investment objectives. Returns may be affected by, amongst other things, investment strategies or objectives of the Financial Instrument(s) and material market and economic conditions, including interest rates, market terms and general market conditions. The different strategies applied to the Financial Instruments may have a significant effect on the results portrayed in this material. Past performance is not a guide to future performance and the value of the investments in Financial Instrument(s) may go down as well as up. Investors may not get back the amount they originally invested.

The performance data, as applicable, reflected in this material, do not take into account the commissions, costs incurred on the issue and redemption and taxes.

* BNP Paribas Asset Management (BNPP AM) is an investment management Company governed by French law, approved by the “Autorité des marchés financiers” in France under number GP 96002, and is a member of AFG (Association Française de la Gestion Financière), a professional body for third-party asset management in France.BNP Paribas Asset Management is a simplified joint stock company with share capital of 67.373.920 euros (as of 15 December 2014) whose registered office is located at 1, boulevard Haussmann 75009 Paris, France, registered with the Paris Registry of Commerce and Companies under number 319 378 832. www.bnpparibas-am.com. EU VAT number: FR93319378832

** “BNP Paribas Investment Partners” is the global brand name of the BNP Paribas group’s asset management services. The individual asset management entities within BNP Paribas Investment Partners if specified herein, are specified for information only and do not necessarily carry on business in your jurisdiction. For further information, please contact your locally licensed investment partner.