ETF BET Tradeville Fact sheet as of 31/03/2015

PERFORMANCE

ETF BET Tradeville (TVBETETF) is a passively run Exchange Traded Fund that seeks to track the composition and performance of the BET Index.

ETF BET Tradeville unit price vs. BET index since inception (%)

FUND DESCRIPTION

ETF BET Tradeville is the only Romanian Exchange Traded Fund listed on the Bucharest Stock Exchange. The Fund is passively managed and its sole objective is to replicate as closely as possible the performance of the BET index. The Fund can only invest in the stocks included in the BET index and bank deposits.

WHY TVBETETF?

1. The only ETF that tracks the Romanian market

2. Exposure to a frontier market that could be upgraded to emerging status in a few years

3. Exposure to public state-owned companies with high dividend yields

4. Transparency - the Fund portfolio is publicly updated on a daily basis

5. Fund units can be traded on the secundary market by all types of investors, and on the primary market by institutional investors

KEY FACTS

ISIN ROETF0000019

Inception date 08/29/2012

Management fee 0.10%

Benchmark BET index

Number of holdings 10

Net assets 2.5 mn RON

HOLDINGS

The performance quoted represents past performance of the Fund’s NAV and the Fund’s price and does not guarantee future results. Investment return and principal value of investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

FONDUL PROPRIETATEA 20.27%

OMV PETROM 16.25%

BANCA TRANSILVANIA 17.30%

S.N.G.N. ROMGAZ 15.83%

BRD-GROUPE SOC.GEN 10.00%

ELECTRICA 8.36%

S.N.T.G.N. TRANSGAZ 5.82%

CNTEE TRANSELECTRICA 3.63%

SN NUCLEARELECTRICA 1.36%

BURSA DE VALORI BUC. 1.08%

SECTOR BREAKDOWN (%)

0,0 10,0 20,0 30,0 40,0

Utilities

Financials

Banking

Oil&Gas

Date: 31/03/2015. Source: Vanguard AM

Source: Vanguard AM

1M 3M 6M YTD 12M

Price -1.36% 0.41% -3.06% 0.41% 12.00%

NAV -1.09% -0.54% -3.38% -0.54% 12.25%

-10%

0%

10%

20%

30%

40%

50%

60%

The investment in financial instruments entails specific risks including but not confining to: market price fluctuations, dividend, return and/or

profit uncertainty. Please bear in mind that an instrument’s past performance is not a guarantee for a similar future performance. Please read the

Fund Prospectus before investing in this Fund. The issue prospectus of ETF BET Tradeville can be read and provided for free at the headquarters of

S.A.I. Vanguard Asset Management S.A. from Bucharest, Carol Blvd. No 34-36, 10th floor, sector 2, 020922, tel. 021/336.92.83, facsimile:

021/336.92.81 or on the relevant website www.sai-vanguard.ro.

S.A.I. Vanguard Asset Management S.A. acts as Fund Manager for ETF BET Tradeville. S.A.I. Vanguard Asset Management is registered with the

Financial Supervisory Authority with registration number PJR05SAIR/400013 dated 08.07.2004. ETF BET Tradeville is registered with the Financial

Supervisory Authority, having the registration number CSC06FDIR/400080 dated 09.07.2012. The Fund’s Depository is the Bucharest-based branch of

BRD – Groupe Societe Generale. The Fund’s Market-Maker and Authorised Participant is S.S.I.F. Tradeville S.A., Carol I Blvd., No. 34-36, International

Business Center Modern building, 10th floor, district 2, Bucharest, 020922, Romania, tel. 0040 21 318 75 55, facsimile: 0040 21 318 75 57, licensed by

the Financial Supervisory Authority Decision No. 2225/15.07.2003. S.S.I.F. Tradeville is the major stakeholder of S.A.I. Vanguard Asset Management

S.A..

FOR MORE INFORMATION, PLEASE VISIT WWW.SAI-VANGUARD.RO OR CALL 0040 - 21.336.92.83