Thematic & Quant Baskets

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THematic & Quant Cash Equity Baskets

Explore Societe Generale's range of Thematic Baskets, tradable via Note, Certificate or Swap

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The president has the balance of power in Congress to pass through large spending plans with the stated objective to “achieve a 100% clean energy economy and reach net-zero emissions no later than 2050”.

ARTIFICIAL INTELLIGENCE

THEME: GREENFLATION DESCRIPTION: The global energy system is experiencing an enormous transition towards cleaner energy, especially since the Paris Agreement was adopted in December 2015. The current decade is crucially important as it is in this period that the world needs to accomplish almost half of the emissions reductions needed to meet the net-zero target by 2050. With critical minerals lying at its heart, the transition to a green economy will likely trigger a commodity supercycle that will drive higher inflation, the process referred to as ‘Greenflation’. TICKER: SGIXGNFU Index INDEX DESCRIPTION: Exposure to at least 40 stocks, chosen by SG Research, which are significantly exposed to critical metals involved in the cleaner future. This basket aims to benefit from the surging demand for 24 critical metals as well as increased investment from mining companies. The index embeds liquidity and market cap filters (3m ADV>$5m, Market Cap >$500m) and frontier market stocks are excluded.

With its European Green Deal, the EU has set itself the very ambitious goal of becoming the first climate neutral continent. Potentially becoming a real game changer for all the actors involved and a great boost for portfolios.

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GREENER AMERICA AHEAD

EUROPEAN GREEN DEAL

GREENFLATION

The global energy system is experiencing an enormous transition towards cleaner energy. The transition to a green economy will likely trigger a commodity supercycle that will drive higher inflation, the process referred to as ‘Greenflation’.

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CYBER SECURITY

Cyber risk management is a major strategy issue that cannot be overlooked, and this is what makes cyber security all the more important and exciting for investors.

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CLEAN HYDROGEN

The world is searching for clean energy solutions as it tries to move away from fossil fuels. One of the evolving clean technologies, alongside other low-carbon options, is green hydrogen, which is still in the early stages of development.

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GLOBAL NUCLEAR

The nuclear industry has moved back into the spotlight, as nuclear is a low-carbon source of energy that could help countries meet the energy security imperative.

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CHINA GREEN TRANSITION INDEX

China has pledged to achieve carbon neutrality by 2060, pointing to a much faster green transition than pledged by major advanced economies. They are likely to aim for more ambitious targets than those under the Paris Agreement.

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RISE OF THE ROBOTS

Automation and digitalization industry have been one of the few winners of the last turbulent year. This comes on top of the long-term drivers of artificial intelligence (AI) and robotics.

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ESG

EUROPEAN CAPEX

The lastest reporting season highlighted that, despite the COVID crisis last year, European companies have overall been able to strengthen balance sheets.

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EUROLAND TOURISM

Basket of stocks chosen by SG Research experts that selects companies likely to benefit from tourissm in Europe.

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PRIVATE EQUITY PROXY

Private Equity has become a very attractive asset class offering new diversification perspectives compared to traditional listed asset classes. But the illiquidity as well as the high investment minimum and cost structure might refrain investors.

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WORLD TRAVEL & LEISURE

While Europe is facing the third wave of the Covid-19 crisis, the vaccination campaign is significantly accelerating all around the world. While it generates hope for a long term economic revovery, restrictions designed to limit the virus's spread cotinue to slow down some sectors convalescence.

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US STRONG BALANCE SHEET

The Strong Balance sheet strategy is a proxy credit hedge, which takes long exposure to the strongest balance sheets in the US small cap universe and shorts the russell 2000 benchmark. The strategy naturally performs well when credit spreads widen.

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GLOBAL QUALITY INCOME

Quality Income stocks aim to provide a high dividend yield, whilst minimizing dividend cuts, by focusing on solid businesses with strong balance sheets. The defensive nature of Quality Income stocks traditionally outperforms during recessions and crisis periods.

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ASIA 5G

The 5G deployment is accelerating worlwide and more than 5% of the global 5G subscription are currently in Asia.

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CHINA COMMON PROSPERITY

By our analysts understanding, Common Prosperity is aimed at mitigating slowing structural growth in China with policies to strengthen productivity and improve relative equality.

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US MARGIN DEFENDERS

The S&P 500 is close to the target our strategists had pencilled in for 3Q22, but like the inflation surge, everything is coming earlier: a) frontloading by a hawkish Fed started in December and the end of liquidity is coming soon; b) Fed action makes yield curve inversion more likely.

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US RESHORING

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INFLATION PROXY

Call replication is a risk controlled investment strategy that aims to reduce drawdowns while maintaining upside exposure to the underlying.

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EUROPE STAGFLATION

Equity investors are gloomy about the European economic outlook, underweighting European equities and hiding in safe plays. Expectations are now low on the macro side and high on the inflation and rates side.

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US STAGFLATION

As geopolitical risks persist and inflation continues to rise, market's concerns are growing regarding future growth and the possibility of a stagflationary environment.

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US ESG LEADERS

Investors' appetite for ESG funds is more than a temporary boom in interest. In fact, since 2016, ESG funds have seen superior net inflows compared with all funds.

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EUROPEAN ESG PURE FACTOR

The move to ESG-compliant portfolios and indices represents possibly one of the biggest shifts in assets since the advent of the euro. However, it comes with challenges.

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EUROPEAN ESG LEADERS

Investors' appetite for ESG funds is more than a temporary boom in interest. In fact, since 2016, ESG funds have seen superior net inflows compared with all funds.

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BIODIVERSITY

Basket of US & Eurozone stocks screened based on their impact on biodiversity relative to their industry peers and based on market filters.

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ARTIFICIAL INTELLIGENCE

GLOBAL THEMATIC ROTATION

A terrible war and an energy crisis in Europe, double-digit inflation across many developed market economies, and the largest bond market drawdown in at least four decades to go with a 5 trillion dollar+ fall in the market capitalisation of the FAANG complex.

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EUROPEAN MACHINE LEARNING

The underlying model of the SGI Machine Learning Indices relies on the publication of the SG Equity Quant Research Team, one of the most recognized Research teams in the market.

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US MACHINE LEARNING

The underlying model of the SGI Machine Learning Indices relies on the publication of the SG Equity Quant Research Team, one of the most recognized Research teams in the market.

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THEME: EUROPEAN GREEN DEAL DESCRIPTION: With its European Green Deal, the EU has set itself the very ambitious goal of becoming the first climate neutral continent. This has the potential of becoming a real game changer for all the actors involved and, as our European Equity Strategy team is keen to highlight, a great boost for portfolios. TICKER: SGITEGD Index INDEX DESCRIPTION: Equally weighted basket of stocks, chosen by SG Research, that could benefit from the European Green Deal. Focus on 4 key sectors & policy Areas: Clean Energy, Sustainable Mobility, Circular Economy and Building & Renovating. The index incorporates size, liquidity and European revenue exposure filters as well as a minimum environmental score requirement.

THEME: GREENER AMERICA AHEAD DESCRIPTION: On his first day in office, Joe Biden had the US re-join the Paris climate accord, sending a strong signal that making America greener is at the core of his programme. The new president has the balance of power in Congress to pass through large spending plans with the stated objective to “achieve a 100% clean energy economy and reach net-zero emissions no later than 2050”. TICKER: SGITGAMA Index INDEX DESCRIPTION: Basket of stocks chosen by SG Research which are focused on 5 pillars of the US green transition: Construction materials, Machinery & Engineering, Clean Energy, Electric Utilities, Transportation and rural Broadband & 5G wireless.

THEME: GLOBAL NUCLEAR DESCRIPTION: The nuclear industry has moved back into the spotlight, as nuclear is a low-carbon source of energy that could help countries meet the energy security imperative. In addition, some new technologies have emerged. Nuclear energy has pros (low GHG emissions, energy security) and cons (cost, waste management, safety), leading to radically divergent policy choices. The increase in global capacity is expected to accelerate this decade, even doubling in the IEA scenario of net zero emissions. This generates investment opportunities. TICKER: SGGLNUC Index INDEX DESCRIPTION: Exposure to a basket of stocks, chosen by SG Research, involved in the Nuclear Industry Value chain. Specific focus on stocks exposed to nuclear power development, uranium extraction, equipment makers and utilities. The basket has a global focus, representing 14 countries. Filters applied include minimum market cap ($500m), minimum liquidity (3m ADV above $3m) and must be listed on US, Canada, EU, UK, Swiss or Asia markets.

THEME: CLEAN HYDROGEN DESCRIPTION: The world is searching for clean energy solutions as it tries to move away from fossil fuels. One of the evolving clean technologies, alongside other low-carbon options, is green hydrogen, which is still in the early stages of development. Since clean energy is an integral component for its development, green hydrogen production can piggyback on the renewable energy growth witnessed today. Green hydrogen is at a stage where solar and wind renewable technologies were 10-15 years back, anticipating higher acceptance as price continues to fall supported by economies of scale. TICKER: SGBCH2VC Index INDEX DESCRIPTION: Exposure to stocks, chosen by SG Research, pivotal in the development of a clean hydrogen economy. Stocks include a mix of pure players (fuel cells, electrolysers), renewable energy equipment makers (wing & solar) and companies in other industries which have adopted a hydrogen strategy.

THEME: CYBER SECURITY DESCRIPTION: The new age of digital is exciting and promising for people, organisations and economies but it does come with a very destructive flipside: cyber attacks. Cyber attacks are fascinating in many respects: for example, their extent, scale, variety, increasing sophistication, persistent mutation, exponential multiplication and destructive power. Conversely, it is astounding to observe how poor the data is on cyber crime, how little attention it gets from companies as well as investors, and how few companies disclose on their cyber security strategies. Cyber risk management is a major strategy issue that cannot be overlooked, and this is what makes cyber security all the more important and exciting for investors TICKER: SGWLDCYB Index INDEX DESCRIPTION: The basket has been live since 2019, comprised of an equally weighted basket of global stocks, chosen by SG Research, likely to benefit from the increase in cyber risk management.

THEME: CHINA GREEN TRANSITION INDEX DESCRIPTION: China has pledged to achieve carbon neutrality by 2060, pointing to a much faster green transition than pledged by major advanced economies. For that, in the upcoming 14th Five Year Programme, China is likely to aim for more ambitious targets than those under the Paris Agreement, including raising the non-fossil fuel share in primary energy consumption to possibly 20% by 2025. This looks attainable given China’s past achievements. However, the path that is necessary beyond the medium term for China to achieve its net-zero goal by 2060 looks highly challenging. To speed up the green transition, China needs to swiftly shift its energy mix toward clean sources. China also needs to significantly boost energy efficiency in transportation, industry and construction. TICKER: SGITCGT Index INDEX DESCRIPTION: 40 stocks, chosen by SG Research. from China, HK or US covering 3 energy clusters: Power (generation & equipment), Mobility (mainly EV supply chain) and Environmental Industries (such as storage & waste management)

THEME: RISE OF THE ROBOTS DESCRIPTION: Automation and digitalization industry have been one of the few winners of the last turbulent year - social distancing, new applications in health care, supply chain management and adaptation to ‘the new normal' are just some of the forces behind this rapid acceleration. This comes on top of the long-term drivers of artificial intelligence (AI) and robotics: automation of employment, technological developments like cloud or the lower carbon footprint of robots, to name a few. It is estimated that artificial intelligence (AI) could add $13tn to World GDP over the 2018-2030 period. TICKER: SGIXROBO Index INDEX DESCRIPTION: Exposure to 150 stocks whose business is positively impacted by the increasing development of artificial intelligence, automation and robotics. Stocks are weighted according to a z-score taking into account the following ratios: R&D to sales, Return On Invested Capital (ROIC) and Sales Growth.

THEME: GLOBAL QUALITY INCOME DESCRIPTION: Quality Income stocks aim to provide a high dividend yield, whilst minimizing dividend cuts, by focusing on solid businesses with strong balance sheets. The defensive nature of Quality Income stocks traditionally outperforms during recessions and crisis periods. It has a proven ability to deliver income when valuations are at risk and is well suited to an inflationary environment, exhibiting positive correlation to rising expected inflation in declining growth environments. TICKER: SGQINTR Index INDEX DESCRIPTION: Systematic selection of stocks that are deemed of the highest quality based on i) Piotroski quality factors (i.e. profitability factors, leverage, liquidity, source of funds and operating efficiency, ii) have a good balance sheet score (measured via merton distance to default) and iii) have a dividend yield above 4%.

THEME: US STRONG BALANCE SHEET DESCRIPTION: The Strong Balance sheet strategy is a proxy credit hedge, which takes long exposure to the strongest balance sheets in the US small cap universe and shorts the russell 2000 benchmark. The strategy naturally performs well when credit spreads widen. Small cap balance sheet risk remains a concern. Despite improving leverage ratios, small cap companies remain highly leveraged. Given monetary tightening and higher interest rates, the cost of refinancing such debt is becoming increasingly difficult and could be exacerbated if profit growth stalls. TICKER: SGEPSBSH Index (nominal) & SGEPSBSB (beta) INDEX DESCRIPTION: Selection of the top 250 US small cap companies based on the strength of their balance sheets. This is assessed using the Merton Distance to Default methodology. Long only, Beta Hedged and Nominal Hedged versions are available.

THEME: WORLD TRAVEL & LEISURE DESCRIPTION: The Index aims to select stocks from travel and leisure sectors which have suffered during the pandemic crisis and have not yet returned to their pre-crisis levels. The Index is favourably positioned to benefit from the current environment driven by the improving outlook and the recovery of those stocks. While Europe is facing the third wave of the Covid-19 crisis, the vaccination campaign is significantly accelerating all around the world. While it generates hope for a long term economic revovery, restrictions designed to limit the virus's spread cotinue to slow down some sectors convalescence. TICKER: SGIXTLU Index INDEX DESCRIPTION: Global stocks from a diverse selection of sectors (Booking, Entertainment & Live events, Airlines, Airport services, Cruises & casinos, Hotels and resorts.) The basket avoids selecting stocks which could be close to default or that have weak balance sheets, by using the Merton-Distance to default ratio. Stocks are chosen by SG Research.

THEME: PRIVATE EQUITY PROXY DESCRIPTION: Private Equity exposure can provide higher and less volatile historical returns vs traditional equity markets. It has become a very attractive asset class offering, particularly owing to is diversification perspectives compared to traditional listed asset classes. However, direct investment can be difficult owing to a number of barriers to entry (low liquidity, high minimum investment minimum and cost structure) TICKER: SGIXPE Index INDEX DESCRIPTION: The strategy selects at least 100 stocks (80% US, 20% Europe) that most closely resemble the positive characteristics of companies found in buyout fund portfolios (small cap & profitable with low valuations).

THEME: EUROLAND TOURISM DESCRIPTION: 2022 saw a recovery in tourism activity, with a strong increase in hotel RevPAR (Revenue Per Available Room) and a recovery in international arrivals to Europe. Although the economic slowdown, rising inflation and current geopolitical situation may weigh heavy on the sector, excess savings alongside the re-opening of china could provide support for the sector. TICKER: SGEUTOUR Index INDEX DESCRIPTION: Basket of stocks chosen by SG Research experts that selects companies likely to benefit from tourissm in Europe. Key exposures include Hotels, Restaurant & Leisure, Aerospace & Defence and Transportation. Albeit focused on European tourism, the basket is composed of global companies.

THEME: EUROPEAN CAPEX DESCRIPTION: The lastest reporting season highlighted that, despite the COVID crisis last year, European companies have overall been able to strengthen balance sheets. By cutting cost, benefiting from governement support and managing their cash flows, companies are now sitting on a cash pile. In this page, our equity strategists dig into the potential impact of how companies might spend this cash in the coming years. TICKER: SGEURCPX Index INDEX DESCRIPTION: The basket takes exposure to stocks which could benefit from increased CAPEX. Selections are conducted by SG research using the Supply Chain Analysis tools from Bloomberg. Stocks are subject to minimum size and liquid constraints (Market Cap >$1bn, 3m ADV > $3m) and the company should be a supplier of one of the 200 biggest European companies.

THEME: CHINA COMMON PROSPERITY DESCRIPTION: ‘Common Prosperity' is a goal enshrined in the constitution of China's Communist Party. On 17 August 2021, President Xi reiterated that it is “an essential requirement of socialism”. It has since become the centre of attention in almost every policy discussion in China. By our analysts understanding, Common Prosperity is aimed at mitigating slowing structural growth in China with policies to strengthen productivity and improve relative equality. TICKER: SGCHPROS Index INDEX DESCRIPTION: Tracks the performance of 30 stocks mapped to the aim of achieving common prosperity in China. Focused on 3 segments: Smart manufacturing, Consumer ex-spirits & Tobacco and Financials. Stocks chosen by SG Research.

THEME: US MARGIN DEFENDERS DESCRIPTION: The S&P 500 is close to the target our strategists had pencilled in for 3Q22, but like the inflation surge, everything is coming earlier: a) frontloading by a hawkish Fed started in December and the end of liquidity is coming soon; b) Fed action makes yield curve inversion more likely - in fact, some versions of the yield curve are already inverted; and c) a wage spiral is a risk owing to stickier and higher inflation on the back of commodity shocks, unresolved supply chain issues and an extremely tight labour market. TICKER: SGUSMD Index INDEX DESCRIPTION: Exposure to stocks with a lower labour intensity vs industry average, with cost of goods sold lower than sector average and above industry average revenue growth expected. Stocks chosen by SG Research.

THEME: US RESHORING DESCRIPTION: The S&P 500 is close to the target our strategists had pencilled in for 3Q22, but like the inflation surge, everything is coming earlier: a) frontloading by a hawkish Fed started in December and the end of liquidity is coming soon; b) Fed action makes yield curve inversion more likely - in fact, some versions of the yield curve are already inverted; and c) a wage spiral is a risk owing to stickier and higher inflation on the back of commodity shocks, unresolved supply chain issues and an extremely tight labour market. TICKER: SGRESHORE Index INDEX DESCRIPTION: Selection of stocks based on i) Companies that have majority exposure to the US economy and are fundamentally sensitive to non-residential investment growth and ii) Companies with exposure to sectors such as Defensive, Information/Communication services, Semi-conductors, AI, Autonomous Vehicles, Energy, Agri-business, pharma, renewables, mining and transportation. Stocks chosen by SG Research.

THEME: INFLATION PROXY DESCRIPTION: Call replication is a risk controlled investment strategy that aims to reduce drawdowns while maintaining upside exposure to the underlying. In the context of inflation or market upside positioning, it is a useful tool to efficiently gain exposure when the underlying strategy is performing well while limiting exposure on the downside. TICKER: SGIXINFL Index INDEX DESCRIPTION: Utilising a call replication strategy to track inflation, in order to reduce drawdowns when inflation expectations drop or market sentiment weakens. Exposure is determined daily using a Black Scholes delta of a portfolio of call options.

THEME: EUROPE STAGFLATION DESCRIPTION: Our strategists are not sharing the global pessimism on Europe. Equity investors are gloomy about the European economic outlook, underweighting European equities and hiding in safe plays. Expectations are now low on the macro side and high on the inflation and rates side. The next quarter may remain choppy and volatile, but we should not be far from the peak of pessimism. Fiscal easing, a low unemployment rate and surplus savings may support the European consumer. Thus, any weakness could be used as an opportunity to rebuild some position before the end of the year, as growth and inflation momentum should be more favourable for European equities then. TICKER: SGEUSTAG Index INDEX DESCRIPTION: Tracks the performance of 45 stocks, selected by SG Research, with strong correlation between top-line growth and inflation, with defensive characteristics.

THEME: US STAGFLATION DESCRIPTION: As geopolitical risks persist and inflation continues to rise, market's concerns are growing regarding future growth and the possibility of a stagflationary environment. TICKER: SGSTAG Index INDEX DESCRIPTION: Tracks the performance of 29 stocks, selected by SG Research, that are headquartered in the US, with strong correlation between top-line growth and inflation, with defensive characteristics.

THEME: ASIA 5G DESCRIPTION: ‘The 5G deployment is accelerating worldwide and more than 5% of the global 5G subscription are currently in Asia. TICKER: SGAS5G Index INDEX DESCRIPTION: Basket of 23 stocks listed in onshore China, Hong Kong, Taiwan, Japan or South Korea. Selection comprised of six industries in the 5G value change: Towers, Network Infrastructure, Semi-conductors, Equipment manufacturers, Smartphone makers and network providers. Stocks chosen by SG Research.

THEME: US ESG LEADERS TICKER: SGIESGLU Index INDEX DESCRIPTION: The SGI European ESG leader is a long index to select the ESG-rated stocks based on the data provided by Sustainalytics. The Index is composed of a hypothetical basket of US stocks, determined according to a systematic scoring methodology which aims to exclude certain stocks based on Environmental, Social and corporate Governance (ESG) criteria and to select the best stocks according to the quality of their ESG rating (provided by Sustainalytics) ESG FILTERS

THEME: EUROPEAN ESG PURE FACTOR DESCRIPTION: The move to ESG-compliant portfolios and indices represents possibly one of the biggest shifts in assets since the advent of the euro. Also, there are various challenges given the ESG data inconsistencies but also the strong biases of ESG scores to certain sectors, countries and factors. Our Pure factor ESG strategy has been designed to manage the ESG portfolio better, without sacrificing ESG standards. TICKER: SGPFESGE Index INDEX DESCRIPTION: The SGI ESG Pure Factor aims to select stocks from a European Market cap-weighted universe, based on an ESG score monthly selection and some equity factor constraints. The strategy seeks to achieve materially higher ESG scores, whilst excluding certain stocks based on ESG screening and limiting other risks. This results in a portfolio that exhibits low tracking error to the benchmark, but much better ESG standards and no bad factor biases. It is an ESG-compliant benchmark alternative. ESG FILTERS

Exclusions: The Index excludes companies breaching any of the UN Global Compact Principles, subject to controversies (Operations Incidents, Employee Incidents, Governance Incidents etc.) or involved in some controversial sectors (weapons, fossil fuel, tobacco, gambling etc.). Selection: “Best in class”- The strategy selects the top ESG-rated quintile (20%) in the remaining investment universe (after exclusion) according to the ESG Risk Rating (within each sector, i.e. stocks with the lower ESG risk rating) provided by Sustainalytics.

THEME: BIODIVERSITY DESCRIPTION: Nature is being degraded at catastrophic rates, with $1.9 trillion estimated to be at stake as biodiversity loss intensifies nature-related risks, according to Moody’s Investors Service. The recent COP15 ended with a landmark biodiversity agreement. Representatives from 188 governments adopted the Global Biodiversity Framework, with a number of key targets to achieve by 2030, two of which being: 1. 30% of the world’s land water and marine areas to be protected and conserved by 2030 2. $200bn to be mbilized annually by 2030 in domestic & international biodiversity-related funding from both public and private sources. Most investors are only just beginning to include nature-related risks in their assessments. However this thematic is gaining traction fast with the market for biodiversity investments expected to reach $93 billion by 2030, up from about $4 billion in 2019, according to Paulson Institute. TICKER: SOBIODVN Index INDEX DESCRIPTION: Basket of US & Eurozone stocks screened based on their impact on biodiversity relative to their industry peers and based on market filters. The Index applies certain norm- and activity-based exclusions and a best-in-class selection, to only retain the companies with the highest scores in terms of corporate biodiversity impact. These scores are derived from raw data computed by Iceberg Data Lab.

THEME: GLOBAL THEMATIC ROTATION DESCRIPTION: If 2020 was a historic year, 2022 continued the tradition of once-in-a-generation events in financial markets. A terrible war and an energy crisis in Europe, double-digit inflation across many developed market economies, and the largest bond market drawdown in at least four decades to go with a 5 trillion dollar+ fall in the market capitalisation of the FAANG complex. Remarkably, VIX managed to remain below the 40 level throughout the year and averaged a touch above 25 – an apt representation of the slow-burning bear market in 2022. 2023 is likely to be as challenging as 2022 for investors and strategists alike, with lots of uncertainty around the depth and timing of the much anticipated recession. TICKER: MXGTSRNE Index INDEX DESCRIPTION: Selection of stocks from the four highest ranked thematic indices (from a possible 22), identified using MediaStats sentiment algorithm. The index applies minimum size ($1bn) & min liquidity filters ($10m ADV), selecting stocks from EMU, US and Canada. It also includes a controversial activities & UNGC compliance screen.

THEME: EUROPEAN MACHINE LEARNING DESCRIPTION: Predicting how the stock market will perform and identifying teh trending Equity Factors can turn out being a perilous undertaking. The underlying model of the SGI Machine Learning Indices relies on the publication of the SG Equity Quant Research Team, one of the most recognized Research teams in the market. Using factual and unbiased features like the latest financial communication of an organization (i.e. their quarterly revenue results, etc.), Machine Learning techniques have the potential to unearth patterns and insights we couldn't identify before, the ML models can be used to make accurate predictions to identify the incoming outperformers. TICKER: SGEPMLEU Index INDEX DESCRIPTION: Utilises a Machine Learning algorithm to process stock data and take a long short position in stocks with the highest and lowest probability of outperformance over a 1 month period from the STOXX 600 Index.

THEME: US MACHINE LEARNING DESCRIPTION: Predicting how the stock market will perform and identifying teh trending Equity Factors can turn out being a perilous undertaking. The underlying model of the SGI Machine Learning Indices relies on the publication of the SG Equity Quant Research Team, one of the most recognized Research teams in the market. Using factual and unbiased features like the latest financial communication of an organization (i.e. their quarterly revenue results, etc.), Machine Learning techniques have the potential to unearth patterns and insights we couldn't identify before, the ML models can be used to make accurate predictions to identify the incoming outperformers. TICKER: SGEPMLU Index INDEX DESCRIPTION: Utilises a Machine Learning algorithm to process stock data and take a long short position in stocks with the highest and lowest probability of outperformance over a 1 month period from the S&P 500 and S&P MidCap 400 Universe

Exclusively for your use only. Please refer to the important information section which can be found here

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WORLD WATER TOTAL RETURN

Tracking the performance of a hypothetical basket of stocks which have the biggest share of their revenues in either or several of the investment clusters.

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THEME: WORLD WATER TOTAL RETURN DESCRIPTION: The tenet that “Water, though renewable, is a finite resource” is being proven time and again the world over. It is a known fact that though water covers more than two-thirds of the Earth’s surface, 97% of that is saltwater, which is found in the world’s oceans and other saline water bodies. Around just 2.5% of available water is freshwater, and two-thirds of that is in the form of ice and snow. Readily accessible freshwater accounts for less than 1% of the world’s water supply. Yet the realisation of this fact is significantly lacking, so much so that it is no understatement to say that the prospect of water shortages has not earned the attention it deserves given that a water scarcity poses one of the world’s biggest environmental risks. TICKER: WOWAX Index INDEX DESCRIPTION: The Index reflects the development of the water sector, which covers water utilities, water infrastructure and water treatment. Consists of the 30 largest companies in this field and is an equally-weighted index where each member is set at 5% on a quarterly basis. The Index tracks the performance of a hypothetical basket of Shares of Companies which have the biggest share of their revenues in either or several of the following investment clusters: Water Utilities, Water Infrastructure, Water Treatment.

WORLD ALTERNATIVE ENERGY TOTAL RETURN

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Readily accessible freshwater accounts for less than 1% of the world’s water supply. It is no understatement to say that the prospect of water shortages has not earned the attention it deserves given that a water scarcity poses one of the world’s biggest environmental risks.

THEME: WORLD ALTERNATIVE ENERGY TOTAL RETURN TICKER: WAEX Index INDEX DESCRIPTION: The World Alternative Energy Total Return Index tracks the performance of a hypothetical basket of stocks which have the biggest share of their revenues in either or several of the following investment clusters: Distributed Energy, Energy Efficiency, and Renewable Energy. The Shares are selected based on a quantitative model designed by RobecoSAM AG.

THEME: EUROPEAN ESG LEADERS TICKER: SGIESGLE Index INDEX DESCRIPTION: The SGI European ESG leader is a long index to select the ESG-rated stocks based on the data provided by Sustainalytics. The Index is composed of a hypothetical basket of European stocks, determined according to a systematic scoring methodology which aims to exclude certain stocks based on Environmental, Social and corporate Governance (ESG) criteria and to select the best stocks according to the quality of their ESG rating (provided by Sustainalytics). ESG FILTERS

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The contents of this document are given for purely indicative purposes and have no contractual value. Authorisation: Societe Generale is a French credit institution (bank) that is authorised and supervised by the European Central Bank (ECB) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) (the French Prudential Control and Resolution Authority) and regulated by the Autorité des marchés financiers (the French financial markets regulator) (AMF). No offer to contract: This document does not constitute an offer, or an invitation to make an offer, from Societe Generale to purchase or sell a product. As a consequence of the current geopolitical turmoil involving Russia and Ukraine financial markets are going through a severe market downturn marked by distressed asset valuations, increased volatility and high uncertainty on potential future evolutions. In these troubled market conditions investors should thoroughly analyze the risks and benefits of their financial decisions, taking into consideration all potential implications of the particular current situation. 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