Company presentation of Eurizon Capital, leading European asset manager and part of the Intesa Sanpaolo Group

1. Company Presentation

2. A clear mission based upon aligned interests Eurizon Capital has a clear vision: The growth of its own business is inseparably linked to the success of its clients over the long-term. A vital part of this relationship is the openness and transparency we share with clients.

6. Source: Strategic Insight Global Flowwatch Dec. 2009, Assogestioni Q3 2009 Market Position Eurizon Capital in the European Fund Market Rank Asset Manager Country AuM Funds 1 Amundi France Euro 256 bln. 2 DWS Germany Euro 139 bln. 3 DEKA Germany Euro 124 bln. 4 Natixis France Euro 113 bln. 5 Union Germany Euro 100 bln. 6 BNP Paribas France Euro 86 bln. 7 Eurizon Capital Italy Euro 80 bln. 8 Allianz Global Investors Germany Euro 76 bln. 9 Pioneer Italy Euro 66 bln. 10 UBS Switzerland Euro 60 bln.

7. Asset Management, Organisation Head Office in Milan, including main portfolio management activities, business development and support functions Active quant management for retail & institutional clients Focus on Fund of Hedge Funds for retail & institutional clients Management of Luxembourg Funds and international business development

10. Investment Activity, Investment Solutions The organisation chart of the department (78 investment professionals): *Eurizon A.I. is a separate company

12. Investment Activity, Alpha Core The organisation chart of the department (85 investment professionals):

16. Disclaimer The content of this document is for information purposes only and is targeted solely to institutional investors. To the best of the knowledge, information and belief of Eurizon Capital S.A., all information contained herein is accurate as at the date of publication and is provided on an "AS IS" basis and without any warranties of any kind, either expressed or implied. However, neither Eurizon Capital S.A. nor its affiliates nor any directors or employees can or does warrant, guarantee or represent, either expressly or by implication, the accuracy, validity or completeness of such information. This document contains information covering different Luxembourg-domiciled UCITS III umbrella funds, managed and registered in many locations worldwide. In particular the Funds are registered for marketing in some, but not all EU countries. As such, access to the information contained herein may be restricted by laws and regulations applicable to the user. This information is not intended to be published or made available to any person in any jurisdiction where doing so would result in breach of any applicable laws or regulations. In particular, marketing of certain Funds is restricted to certain jurisdictions only. The user should ensure that the use of this information and any investment made as a result does not breach any such restrictions. It is the user's responsibility to be informed and to observe all applicable laws and regulations of any relevant jurisdiction. In particular, the information contained in this document does not constitute investment advice or an offer to sell or the solicitation of any offer to buy any securities or services in the United States to or for the benefit of any United States persons (being residents of the United States or partnerships or corporations organised under the laws of the United States). The Funds have not been registered in the United States under the Investment Company Act of 1940 and units or shares of the Funds are not registered in the United States under the Securities Act of 1933. The document is not directed at investors in Hong Kong and its content has not been approved by the Hong Kong Securities and Futures Commission. Under no circumstances may the information contained herein, or any part thereof, be copied, reproduced or redistributed without the express permission of Eurizon Capital S.A.. Neither Eurizon Capital S.A. nor its affiliates, or any directors or employees shall be liable for any damage arising from any person's reliance on such information and shall not be liable for any errors or omissions (including but not limited to errors or omissions made by third parties) in such information. The information provided herein is subject to change without further notice.