The Sustainability Yearbook 2013

Page 1

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The Sustainability Yearbook 2013

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The Sustainability Yearbook 2013 01/2013 RobecoSAM AG

www.robecosam.com

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1. LOOKING BACK AND LOOKING AHEAD

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2. SUPPLY CHAIN MANAGEMENT: THE NEW FRONTIER OF CORPORATE SUSTAINABILITY

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3. BUILDING BUSINESS VALUE IN A CHANGING WORLD

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4. PANEL DISCUSSION: FINANCIAL MATERIALITY OF SUSTAINABILITY

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5. SUSTAINABILITY LEADERS 2013

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ANNEX

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COMPANY OVERVIEW

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One can appreciate just how much has changed over the years by looking at the very first Sustainability Yearbook published in 2004. What seemed a bit exotic back then has now become a mainstream concept, and the challenges that must be addressed today are also completely different from what they were ten years ago.

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Ms. Grab, this is the tenth edition of The Sustainability Yearbook, and both you and Mr. Gai have been part of it every year. Looking back, what would you say are the biggest changes you’ve witnessed during this time? Gabriela Grab Hartmann: X†‹Amxu” ‹lX ܠXwXxVzŒ‡ Ġzk†X‡‡ wAx” SzwƒAxmX‡ lA‘X wAVX z‘X† ‹lX ”XA†‡à :lXx Â’X ƒŒRum‡lXV ‹lX ]m†‡‹ 1Œ‡‹AmxARmum‹” <XA†RzztĂ‚ ‡Œ‡‹AmxARmum‹” Â’A‡ ‡‹muu A ‡zwXÂ’lA‹ xXkuXS‹XV m‡‡ŒXĂ 3zVA” Auwz‡‹ X‘X†” SzwƒAx” ‹AtX‡ m‹ ‡X†mzŒ‡u” AxV ܠmX‡ ‹z kz zxX ‡‹Xƒ ]Œ†‹lX† ”XA† A]‹X† ”XA†à 3Xx ”XA†‡ AkzĂ‚ xz‹ wÂŒSl X]]z†‹ Â’A‡ †XÂ…ÂŒm†XV ]z† A SzwƒAx” ‹z ƒz†‹†A” m‹‡Xu] A‡ A ‡Œ‡‹AmxARuXĂ‚ †X‡ƒzx‡mRuX Xx‹X†ƒ†m‡XĂ ÂŒÂ‹ ‹zVA” ‹lA‹ m‡ xz uzxkX† ‹lX SA‡XĂ "Ax” SzwƒAxmX‡ A†X mx‹Xk†A‹mxk ‡Œ‡‹AmxARmum‹” mx‹z ‹lXm† z‘X†Auu ‡‹†A‹Xkӈ -†zSX‡‡ AxV ĠzVÂŒS‹ mwĠz‘XwXx‹‡ A‡ Â’Xuu A‡ ‹AxkmRuX †X‡Œu‹‡ A†X xXSX‡‡A†” ‹z Vm‡‹mxkÂŒm‡l ‹lX ‡Œ‡‹AmxARmum‹” uXAVX†‡ ]†zw ‹lX uAkkA†V‡ ĠXSm‡Xu” RXSAŒ‡X ‡z wAx” SzwƒAxmX‡ lA‘X Au†XAV” wAVX ‡ŒSl Rmk ‡‹†mVX‡à 3Xx ”XA†‡ AkzĂ‚ ‹lX†X Â’A‡ A SuXA† Vm‘mVX mx ‹X†w‡ ‡Œ‡‹AmxARmum‹” ƒX†]z†wAxSX RX‹’XXx ΠzƒXAx SzwƒAxmX‡ AxV ‹lz‡X ]†zw z‹lX† †Xkmzx‡Â Â’lmSl Â’A‡ Au‡z †X]uXS‹XV mx ‹lX †XkmzxAu †X‡ƒzx‡X †A‹X‡ ‹z zΠ Â…ÂŒX‡‹mzxxAm†X‡à 1mxSX ‹lXxĂ‚ mx‹X†X‡‹ mx zΠ A‡‡X‡‡wXx‹ lA‡ k†zÂ’x Szx‡mVX†ARu” mx X‘X†” †XkmzxĂ 3zVA” A

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Figure 1: Participation rate in 2012 and change in participation rate since 2003 by region

Change in participation rate since 2003 (in percentage points)

15%

1,071

10%

1,209

0%

North America

678

Asia Pacific

Europe

Latin America 159

-5%

Africa

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70

-15%

0%

10%

20%

30%

40%

50%

60%

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Figure 2: Participation rate in 2012 and change in participation rate since 2003, five largest sectors by number of companies invited Change in participation rate since 2003 (in percentage points)

12% 10%

235 8%

172

Banks

Real Estate

6%

Electricity

132

4% 2% 0% -2% -4%

149 -6%

Oil & Gas Producers

Mining

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5%

10%

15%

20%

25%

30%

35%

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Figure 3: Average score in 2012 and change in score since 2003, five largest sectors by number of companies invited 20% 15%

68

Banks

10%

Change in score since 2003

38

Real Estate

5%

16

0%

Mining

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-10%

Electricity

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Oil & Gas Producers

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56

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Mr. Gai, in what areas have you seen the greatest improvements? Edoardo Gai: :X lAย X ย mย xXย ย XV kย XAย mwย ย zย XwXxย mx A xย wRXย z] Vm]]Xย Xxย Sย mย Xย mAร zย ย zย Aย X kzย Xย xAxSX mย zxX ย ย Sl Aย XA ย lAย SAx xzย RX Szxย mVXย XV wAmxย ย ย XAwร ย A kย zย mxk xย wRXย z] Szwย AxmXย ร ย lX Vmย XSย zย ย lAย X Xย ย ARumย lXV mxVXย XxVXxย Szwwmย ย XXย ย lAย lAย X Vmย XSย zย Xย ย mklย zย Xย ย lX tXย kzย Xย xAxSX mย ย ย Xย z] ASSzย xย mxkร Xย XSย ย mย X xzwmxAย mzxย AxV Szwย Xxย Aย mzxร uwzย ย Xย Xย ย ]mย w ย X Aย ย Xย ย xzย kXย ย ย zย wAย tย mx ย lmย ย XkAย Vร 3Xx ย XAย ย Akzร ย X ย Xย X Awzxk ย lX ]mย ย ย mxย Xย ย zย ย ย z ย ย ย A ย ย zย umklย zx ย lX mย ย ย X z] Szย ย zย Aย X kzย Xย xAxSX AxV ย zVAย mย mย z] SXxย ย Au mwย zย ย AxSX ]zย mxย Xย ย zย ย ร Xย ย XSmAuuย mx umklย z] ย lX ย Aย mzย ย ย SAxVAuย ย X lAย X ย XXx mx ย XSXxย ย XAย ย ร zxX xXXV zxuย ย lmxt z] Auu ย lX lXAVumxXย ARzย ย Szย ย zย Aย X ย lmย ย uXRuzย Xย ย ร RzAย Vย zzw ย Aย ร Szx]umSย ย z] mxย Xย Xย ย ร AxV ย Xย Aย Aย mzx z] Szwย Axย SlAmย wAx AxV % ย zuXย ร Gabriela Grab Hartmann: zwย AxmXย ร Xxย mย zxwXxย Au ย zumSmXย Aย X xz uzxkXย A wAszย Vm]]Xย Xxย mAย mxk ]ASย zย Xmย lXย ร ย mxSX ย lmย mย Auย z Ax Aย XA mx ย lmSl ย z wAxย Szwย AxmXย lAย X wAVX ย z wย Sl ย ย zkย Xย ย ร "Axย lAย X mwย uXwXxย XV Ax Xxย mย zxwXxย Au wAxAkXwXxย ย ย ย ย Xw AxV ASlmXย X Xย ย Xย xAu SXย ย m]mSAย mzxร ย lmSl kmย Xย ย lXw A lmkl ย ย AxVmxk ASSzย Vmxk ย z zย ย Aย ย Xย ย wXxย ร

ร zmxk ]zย ย Aย Vร Szwย AxmXย ย muu RX Xย ย XSย XV ย z ASย mย Xuย Szwwย xmSAย X ย lX ]mxAxSmAu RXxX]mย z] ย lXmย ย ย ย ย AmxARmumย ย ย ย ย Aย Xkย ร ร 3lX ย AwX Aย ย umXย ย z ย Xย zย ย mxkร wAxย Szwย AxmXย xzย ย ย Rumย l VXย AmuXV ย ย ย ย AmxARmumย ย AxV Xxย mย zxwXxย Au ย Xย zย ย ย ร ย ย ย lX ย XAu Vm]]Xย Xxย mAย mxk ]ASย zย xzย SzwXย ]ย zw Xย ย ย Xย ย mxk ย lXย X ASlmXย XwXxย ย mx ]mxAxSmAu ย Xย zย ย ย ร umxtmxk ย lX ย Xย ย uย ย z] ย lXmย ย ย ย ย AmxARmumย ย ย ย ย Aย XkmXย ย z ย lXmย ]mxAxSmAu ย Xย ]zย wAxSXร Edoardo Gai: uwzย ย Xย Xย ย Szwย Axย ย zVAย Auย z lAย A zVX z] zxVย Sย ย mย l kย mVXumxXย VXย mkxXV ย z ย ย zย XSย ย lX Szwย Axย AxV mย ย ย Xย ย ย Aย mzxร Xย X ย zzร ย lXxร ย lXย X mย xzย wย Sl ย Szย X ]zย Vm]]Xย Xxย mAย mzxร 3lX ย AwX Aย ย umXย ย z lย wAx SAย mย Au VXย Xuzย wXxย ร Ax Aย XA mx ย lmSl wzย ย Szwย AxmXย lAย X VXย Xuzย XV AxV mwย uXwXxย XV ย ย AxVAย Vmย XV ย zumSmXย AxV ย ย zSXVย ย Xย ]zย wAxAkmxk mย ย lย wAx SAย mย Au Aย Ax Aย ย Xย ร x ย zwX ย XSย zย ย ร ย lX mxย Xkย Aย mzx z] 3 mxย z ย Aย mzย ย Rย ย mxXย ย ย ย zSXย ย Xย ย ย XV ย z RX A ย mkxm]mSAxย Vm]]Xย Xxย mAย mxk ]ASย zย ร Auuzย mxk ]mย ย ย รฐwzย Xย ย ย z ย AtX AVย Axย AkX z] Xรฐmxย zmSmxk AxV XรฐSzwwXย SX zย ย zย ย ย xmย mXย ร 3zVAย ย ย Sl ย Xย ย mSXย Aย X Auwzย ย ย xmย Xย ย Auร

Have the criteria and measurement tools used in the Corporate Sustainability Assessment (CSA) also changed over the past ten years? Gabriela Grab Hartmann: Rย zuย ย Xuย ร x ย lX XAย uย VAย ย ร ย X wXAย ย ย XV mxxzย Aย mzx ย zย Xxย mAuร ]zย Xย Awย uXร zxuย mx ย Xย wย z] 0ร ย ย XxVmxkร 3zVAย ร ย X ]zSย ย wzย X zx ย lX Rย zAVXย SzxSXย ย z] mxxzย Aย mzx wAxAkXwXxย AxV ย Axย ย z txzย Xย ASย uย lzย A Szwย Axย wXAย ย ย Xย AxV wAxAkXย mxxzย Aย mzx ย lย zย klzย ย Ax Xxย mย X Rย ย mxXย ย VXย Xuzย wXxย um]X Sย SuXร x zย lXย ย zย Vย ร ร zย X]]mSmXxย uย AxV X]]XSย mย Xuย mย A Szwย Axย ย ย XxVmxk mย ย 0ร ]ย xVย ร ร :Aย Xย รฐย XuAย XV ย mย tย mย Axzย lXย Xย Awย uXร xmย mAuuย ร ย X zxuย wXAย ย ย XV A Szwย Axย ร ย Szxย ย wย ย mzx ย zuย wXร ย lXย XAย ย zVAย ย X ย ย XSm]mSAuuย uzzt Aย lzย A Szwย Axย wAxAkXย mย ย ย Aย Xย รฐย XuAย XV ย mย tย ร zย Xย Awย uXร mx ย Xkmzxย ย lXย X ย Aย Xย mย ย SAย SX zย ย lXย X ย Aย Xย ย ย Aumย ย mย A SzxSXย xร ย X Aย X mxย Xย Xย ย XV mx lzย ย lX Szwย Axย mย wAxAkmxk ย lXย X ย mย tย ร 4uย mwAย Xuย ร ย X Aย X Xย Auย Aย mxk ย lXย lXย ย mย t wAxAkXwXxย ย zumSmXย Aย X AVXย ย Aย Xuย AVVย Xย ย mxk ย lX kmย Xx ย mย tย ร Edoardo Gai: 1ย ย ย uย SlAmx wAxAkXwXxย Auย z VXย Xย ย Xย wXxย mzxร 3Xx ย XAย ย Akzร ย lmย ย zย mS wAmxuย SzxSXย xXV Szxย ย wXย kzzVย Szwย AxmXย ร Rย ย ย zVAย mย mย sย ย ย Aย ย XuXย Axย ]zย ย lX ย Xย ย mSXย AxV wAxย ]ASย ย ย mxk ย XSย zย ย ร ย lmSl Aย X mxSย XAย mxkuย zย ย ย zย ย Smxk ย ย zVย Sย mzx AxV tXย ย Xย ย mSXย ย z ย lmย V ย Aย ย mXย ร 1ย ย ย uย SlAmx wAxAkXwXxย mย xz uzxkXย A wAย ย Xย z] tXXย mxk Szxย ย wXย ย AxV zย lXย ย ย AtXlzuVXย ย ย Aย mย ]mXVร mย mย wzย X ARzย ย ย Atmxk Ax mxย Xkย Aย XV Aย ย ย zASl ย z Szย ย AxV ย mย t wAxAkXwXxย ร Aย ย Xuu Aย SAย ย ย ย mxk zย ย zย ย ย xmย mXย ร x ]ASย ร ย lmย tXย Aย ย Xย ย wXxย Sย mย Xย mzx lAย Xย zuย XV ย lX wzย ย Vย ย mxk ย lX ย Aย ย ย Xx ย XAย ย RXSAย ย X Szwย AxmXย ย lXwย Xuย Xย lAย X Szxย mxย Auuย SlAxkXV ย lXmย ย ย ย ย uย SlAmxย AxV ย Amย XV ย lX RAย mx ย Xย wย z] ย zumSmXย AxV ย ย zSXVย ย Xย ย ย XVร 3lmย mย Auย z ย lX SAย X ย mย l ย XkAย V ย z ย zumSmXย AVVย Xย ย mxk SumwAย X SlAxkXร ย lmSl mย Axzย lXย ย Aย zย ย wXย lzVzuzkย lAย RXSzwX wzย X ย zย lmย ย mSAย XV zย Xย ย lX ย XAย ย ร zย Xย Awย uXร ย lX zย ย zย Aย X 1ย ย ย AmxARmumย ย ย ย Xย ย wXxย xzย mxSuย VXย 1Szย X ย SAย Rzx Xwmย ย mzxย ร 3lAย mย ร mxVmย XSย Xwmย ย mzxย kXxXย Aย XV Vย ย mxk ย lX ย ย zVย Sย mzx z] ย ย ย SlAย XV wAย Xย mAuย zย ย Aย ย X Vmย ย zย Auร Looking ahead, what sustainability criteria are likely to set companies apart from the competition in the next ten years? Gabriela Grab Hartmann: %xX ]zSย ย ย muu SXย ย Amxuย RX zx ย lX XwXย kmxk wAย tXย ย mx ย mAร Aย mx wXย mSA AxV ]ย mSAร ย Xkmzxย ย lAย Aย X RXSzwmxk mxSย XAย mxkuย mwย zย ย Axย ย uAย Xย ย mx ย lX kuzRAu XSzxzwย ร 1ย ย ย AmxARmumย ย ย Xย XAย Sl mย Xย ย AxVmxk ย ย mStuย Rย ย Atmxk A Suzย Xย uzzt Aย Szwย AxmXย mx ย lXย X ย Xkmzxย RXSAย ย X A kย zย mxk xย wRXย z] mxย Xย ย zย ย

3lX 1ย ย ย AmxARmumย ย <XAย Rzzt ย ย ย ย รข 0zRXSz1 " รข 11

A X A tmxk X mzx ARz Sz z A X X zx mRmum AxV AmxARmum mx lX X A z] lX z uV zzÁ %x lX zxX lAxV m Ó mw z Ax lA kuzRAu Szw AxmX A u lXm zumSmX AxV AxVA V xm]z wu AS z Auu z] lXm z X A mzx l z klz lX z uV AxV zx lX z lX lAxV lX X A X Vm]]X Xx z AVVm mzxAu m t lA Rz l kuzRAu AxV uzSAu Szw AxmX w Szx XxV m l mx lX XwX kmxk wA tX Á Edoardo Gai: x Xk A XV X z mxk z mxSz z A mxk AmxARmum X z mxk mx z ]mxAxSmAu X z mxk muu SX Amxu RX A wAsz z mS kzmxk ]z A VÁ zw AxmX muu RX X XS XV z Rum l AxV AS m Xu Szww xmSA X lX ]mxAxSmAu RXxX]m z] lXm AmxARmum A Xk Á :X A X xz mx lX zSX z] AVVmxk lm A XS z z X mzxxAm XÁ :X Au z X XS AmxARuX z Smxk z RXSzwX Ax mx Xk Au A z] lX Xx m X u SlAmx ]z lX AtX z] RX X m t wAxAkXwXx Á 0X zx mRuX z Smxk Au z wXAx lzuVmxk RA mS l wAx mkl Á 1 AmxARmum muu kXxX Auu uA A k XA X zuX mx Rz l m t AxV mxxz A mzx wAxAkXwXx  zzÁ How does RobecoSAM plan to differentiate itself from other sustainability research organizations? Gabriela Grab Hartmann: 0zRXSz1 " m Ax A X wAxAkXwXx Szw Ax Á 3lX wX lzVzuzk RXlmxV z 1 m RA XV zx Ax mx X z Ó X XS m XÁ % AxAu X A X VX mkxXV z XxlAxSX mx X wXx VXSm mzx R SA mxk mx]z wA mzx lA m mSAuu xVX X XA SlXV mx AVm mzxAu ]mxAxSmAu AxAu m Á :X muu Szx mx Auu

AVs z wX lzVzuzk lX X X z S m X mA SAx xz uzxkX Vm mxk m l lX uXAVX ] zw lX uAkkA V AxV z SA X xX AmxARmum XxV AxV VX Xuz wXx lA wmkl lA X Ax mx]u XxSX zx A Szw Ax Ó ]mxAxSmAu X ]z wAxSXÁ 3l z kl z A X wXx  X A X AS m Xu XxkAkmxk mx A VmAuzk X m l wz X lAx ¡ Szw AxmX z uV mVXÁ 3lm XxARuX z Szx Ax u X]mxX lX wX lzVzuzk lmuX lX X mzxxAm X X XxV z z lX Szw AxmX X X A A zAVwA ]z mw z mxk lXm AmxARmum X]]z Á 3lm u mwA Xu lA A z m m X mw AS zx AmxARmum mx kXxX AuÁ Edoardo Gai: :X muu Szx mx X z mxS XA X lX x wRX z] XwX kmxk wA tX ðRA XV Szw AxmX Sz X XV R z A X wXx Á 3lm m A X lX X zkXxXz k z z] Sz x mX A Vm]]X Xx AkX z] VX Xuz wXx R lX X A X SuXA mkx lA AmxARmum m RXmxk XwR ASXV mx lX X Sz x mX zzÁ 3lm m A mS uA u X mx A mu AxV zuzwRmA lX XA wAx XwX kmxk Sz x mX mx mA muu lA X Szx mVX ARuX Sz X ]z mw z XwXx Á :X A wX lA ] X VX Xuz wXx muu RX V m Xx R X X ] zw lX mx X wXx Szww xm Á % kzAu m z VX Xuz S m X mA lA A X A umSARuX z uzSAu Szw AxmX mx XwX kmxk wA tX AxV AVVm mzxAuu  z mw z X lX X m mxk S m X mA ]z X Au A mxk lz kuzRAu Szw AxmX wAxAkX lX AmxARmum m t AxV z z xm mX lX ]ASX mx lXm XwX kmxk wA tX z X A mzx Á mVkmxk lX kuzRAu AxV uzSAu X XS m X m Axz lX A XA mx lmSl 0zRXSz1 " SAx AkAmx uA A mzxXX mxk zuXÁ

TEN YEARS OF CONTINUOUS PROGRESS Ð3lX zk X ASlmX XV mx lX Sz z A X XS z zx AmxARmum m X z X lX A Xx XA m X]uXS XV mx z zxkzmxk VmAuzk X m l Szw Ax X X Xx A m X Á m S mzx zVA kz mx z w Sl k XA X VX Amu AxV X A X xz uzxkX Autmxk zxu z AmxARmum z]]mSX Á XS m X wAxAkXwXx  umxX wAxAkX AxV uA kX k z m lmx lX z kAxm A mzx A X mxS XA mxku szmxmxk lX Szx X A mzxÁÑ Gabriela Grab Hartmann Ð3Xx XA Akz lXx A SAuumxk Szw AxmX AxV XxSz Akmxk lXw z A mSm A X mx z A X wXx  ]z xV w Xu] X uAmxmxk lA AmxARmum wXAx AxV VX S mRmxk lX z zxX 1 AmxARmum xVX X ã 1 éÁ #z AVA  lX A mARuX Szw Xx A mzx z] A k z mxk x wRX z] Vm XS z m Szx mxkXx zx A Szw Ax Ó AmxARmum ASlmX XwXx AxV zwX mwX X Xx zx m mxSu mzx mx lX 1  lmSl lz s lz w Sl zk X lA RXXx wAVX z X lX uA Xx XA ÁÑ Edoardo Gai

12 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

Á 1 u SlAmx wAxAkXwXx à lX xX ] zx mX z] Sz z A X sustainability

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 13

In an environment characterized by intensified globalization and specialization, companies have been increasingly outsourcing both their production and services over the last few decades. But companies that outsource their production and services also outsource their reputational risks, corporate social responsibility and environmental impact. For this reason, both companies and investors are beginning to recognize the value of well-managed supply chains. For this year’s Corporate Sustainability Assessment, RobecoSAM introduced an enhanced framework for assessing sustainability in companies’ supply chains. Sustainability Analyst Ida Karlsson offers an overview of the new framework and highlights some of the key findings from this year’s assessment.

1. Supply chain trends: from risks to opportunities x lX A  u SlAmx wAxAkXwXx lA AVm mzxAuu ]zS XV zx XAw zSmAu m t Sl A z tmxk SzxVm mzx  SlmuV uARz AxV wmxmw w AkX Á "z X XSXx u  lX SzxSX lA X AxVXV z mxSu VX A R zAVX AxkX z] XSzxzwmS Xx m zxwXx Au AxV zSmAu m X AS z lX Xx m X Au X SlAmxÁ 3lm wXAx lA u SlAmx wAxAkXwXx w mxS XA mxku Szx mVX umX Ó SA ASm z mxxz A X X Amx AuXx AxV wm mkA X m t Á m VzX xÓ z lX Xà X]]XS m X u SlAmx wAxAkXwXx m Au z ARz SA mxk z z xm mX Á zw AxmX Ó X X R zAVXxmxk A zASl z u SlAmx wAxAkXwXx AS mSX AxV lXm X]]z z mx Xk A X AmxARmum mx z lXm u SlAmx z X lX A VXSAVX wm z A mwmuA X zu mzx xVX kzxX R 0zRXSz1 "Ó z z A X 1 AmxARmum X wXx ã 1 éÁ :lA RXkAx A A X z] AxVA V lA mwA mu X AwmxXV lX k mVXumxX Szw AxmX m X z lXm umX AxV lz Szw AxmX A Vm lX X umX ]z Szw umAxSX m l lXm k mVXumxX  lA X zu XV mx z A Szw XlXx m X u SlAmx ] AwX z t XxSzw A mxk XSzxzwmS Xx m zxwXx Au AxV zSmAu m t A Xuu A mx Xk A mzx mx z lX z X Auu R mxX A Xk AxV z z xm wAxAkXwXx Á

14 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

Awareness of risks and traceability gain importance :lXx Szw AxmX z z SX R mxX ðS m mSAu AS m m mX  lX w Au z wAxAkX lX m t A zSmA XV m l Xumx m lmxk z X A mzxAu Szx zu z X Sl AS m m mX Á A X u  lX X m Ax mxS XA XV ]zS zx ASXARmum AxV A A XxX ñ Rz l z] lmSl A X X XwXu mw z Ax ]z Xx mxk ]uA uX X XS mzx AxV A zmVmxk X A mzxAu m t Á 3lX mw z AxSX z] wAxAkmxk lX X m t m Au z X]uXS XV mx lX mxS XA XV S mx ] zw AtXlzuVX Sl A uXkm uA z  # %  lX wXVmA AxV S zwX Á

2. Why does supply chain management matter? The company perspective: the dilemma of lower costs and higher quality zw AxmX ]ASX A wAsz VmuXwwA lXx mxk z wXX u SlAmx X m XwXx Sl A uz X Sz AxV ]A X VXum X mX m lz Szw zwm mxk zx mw z XV AmxARmum X ]z wAxSX AxV Aum Á %xSX Szw AxmX lA X z z SXV A mkxm]mSAx lA X z] lXm X A mzxAu m t  Sz z A X zSmAu X zx mRmum AxV Xx m zxwXx Au mw AS z lXm umX  u SlAmx wAxAkXwXx RXSzwX zxX z] lX wz mw z Ax AmxARmum m X lA lX w AVV X Á lX  Szw AxmX A X zk X m Xu z z Smxk zV S mzx AxV X mSX z XwX kmxk wA tX  X z mxk lXw z z Xx mAu uARz m X  l wAx mkl mzuA mzx AxV Xx m zxwXx Au m t XSm]mS z lz X Xkmzx Á #z zxu SAx wm wAxAkXwXx A xm l A Szw Ax Ó X A mzx AxV lX Aum z] m zV S AxV X mSX  m SAx Au z uXAV z u SlAmx Vm mzx lA SAx lA X A xXkA m X mw AS zx lX Szw Ax Ó z X Auu z X A mzx A Xuu A m ]mxAxSmAu X ]z wAxSXÁ

The investor perspective: well-managed supply chains are a sign of a well-managed company x X z lA X X X Au XA zx ]z A mxk Suz X A Xx mzx z lz A Szw Ax wAxAkX m u SlAmxÁ XSXx V Rum lXV R A A V mxX

%xSX Szw AxmX lA X z z SXV A z] lXm X A mzxAu m t  Sz z A X zSmAu X zx mRmum AxV Xx m zxwXx Au mw AS  u SlAmx wAxAkXwXx RXSzwX zxX z] lX wz mw z Ax AmxARmum m X lA lX w AVV X Á 1Slzzu1 SuXA u lz lA XA u AmxARmum wz X z X ]z w AmxARmum uAkkA V z X lX uzxk xÁ #z m mxku  m Au z X XAu lA lX AwX k z z] Szw AxmX kXxX Auu lA A lmklX A X z] AVz mxk AmxARmum k mVXumxX ]z m umX Á

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3 Ax A XxS z] lX u SlAmx m RXSzwmxk mxS XA mxku mw z Ax ]z mx X z A A Szx X XxSX z] Szw AxmX Ó mxS XA XV z z Smxk z] X A mzxAu m t ñ mx wAx mx AxSX z lmklð m t umX zx lmSl lX A X lmklu VX XxVXx Á #z zxu lz uV Sl VX Amu RX Szww xmSA XV Ax A Xx u  lX w Au z RX wAxAkXV X]]XS m Xu  A VXwzx A XV R XSXx lmklð z]muX SA X mx lmSl uARz ð XuA XV AuuXkA mzx X X wAVX AkAmx tX umX ]z X X Au Szww xmSA mzx XSlxzuzk Szw AxmX Á 3lm X u XV mx VAwAkXV R AxV X A mzx AxV Szx wX RAStuA l V m mxk Szw AxmX z mw z X Ax A XxS AxV Szww xmSA mzx XkA Vmxk lXm u SlAmx mx z VX z umwm lX xXkA m X mw AS zx AuX AxV X Xx X Á

lX  z Xx mAu m t A X xz umwm XV z X A mzxAu m t à lX wm wAxAkXwXx z] AmxARmum m t mx lX u SlAmx SAx Au z uXAV z zV S XSAuu X u mxk ] zw zz zV S mzx Aum  SA mxk Szw AxmX z mxS mkxm]mSAx Vm XS Sz Á 3l  mx X z lA X A tXXx mx X X mx mVXx m] mxk Szw AxmX lA X]]XS m Xu wAxAkX lXm u SlAmx AxV SAx lX X]z X A zmV Sl Szx mVX ARuX Sz lA SAx l lXm ]mxAxSmAu X ]z wAxSXÁ

3. Framework for assessing supply chain management A z] m z z A X 1 AmxARmum X wXx  0zRXSz1 " lA VX Xuz XV A Szw XlXx m X ] AwX z t ]z A X mxk Szw AxmX Ó u SlAmx wAxAkXwXx AS mSX Á 3lX A zASl uzzt A X Xx tX ]AS z ñ z umxXV mx wz X VX Amu mx lX ]zuuz mxk AkX ñ ]zS mxk zx m t mVXx m]mSA mzx AxV wAxAkXwXx A Xuu A lz AmxARmum m mx Xk A XV mx z lX z X Auu u SlAmx A Xk  lz m m umxtXV z ]mxAxSmAu wA X mAum AxV u mwA Xu  A Szw Ax Ó R mxX X ]z wAxSXÁ Exposure & awareness 3lX ]m A z] lX ] AwX z t ]zS X zx A Szw Ax Ó A A XxX z] m u SlAmx XxV AxV SlA AS X m mS A Xuu A lX AmxARmum m t mxlX Xx z lX u SlAmxÁ zw AxmX A X A tXV m] lX lA X SzxV S XV A Szw XlXx m X AxAu m z] lXm u SlAmx XxV AxV lX lX lX XwA mSAuu mVXx m] S m mSAu umX Á zw AxmX A X Auuz XV z z mVX lXm z x VX]mxm mzx z] lA Szx m X S m mSAum  R umX A X kXxX Auu Szx mVX XV z RX S m mSAu m] lX X X Xx lmkl zu wX m] lX A X u mxk tX Szw zxXx z X mSX  z m] um uX z xz Au X xA m X umX z R m X Szw zxXx X m Á 3lX ] AwX z t Au z A Xw z VX X wmxX

Figure 1: Framework for assessing supply chain management

Measuring Performance Exposure & awareness

Risk Management Measures & Capacity Building Transparency

Strategy

Supplier Selection Opportunities

Sourceà 0zRXSz1 "

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 15

lX lX Szw AxmX lA X Szw uX XV A Szw XlXx m X A X wXx z] AmxARmum m t mx lXm u SlAmx AxV lX lX Sl m t SAx RX mVXx m]mXV A XSzxzwmSÂ Xx m zxwXx Au z zSmAu m t Á x z X mX lmklumkl mxk A mz X Aw uX z] z Xx mAu u SlAmx m t m z mVXV mx mk X Á

Figure 2: Examples of supply chain risks

Economic Risks Country risk Business ethics Corruption & bribery Environmental Risks Hazardous substances Water scarcity Energy consumption Social Risks Child labor Working conditions Talent attraction & retention

Sourceà 0zRXSz1 "

Risk management measures & capacity building %xSX A Szw Ax lA mVXx m]mXV S m mSAu AxV lmklð m t umX Â lX xX X m z VX X wmxX lz z wAxAkX lX X m t Á 3lX ] AwX z t kzX RX zxV uzztmxk A Szw AxmX Ó AxVA V ]z umX AxV lXm A Vm zSXV X mx ASSz VAxSX m l lz X AxVA V Â AxV Au z uzzt A z lX A zASlX z wAxAkmxk u SlAmx m t Á 3lX X SAx mxSu VX SzuuARz A m X mxV mxm mA m X Â SA ASm R muVmxk z mxSXx m X ]z umX Á 3lX wAmx A mzxAuX ]z A tmxk Szw AxmX ARz A R zAV AxkX z] m t wAxAkXwXx mxm mA m X m lA xz X X mxm mA m X lz uV xXSX A mu RX A umXV z X X umX Á 0A lX Â Szw AxmX lz uV AtX A z mA X X z wAxAkmxk lXm u SlAmx m t mx A wAxxX lA m SzwwXx A X m l lXm uX Xu z] X z XÂ VX XxVmxk zx lX SlA AS X m mS Â S m mSAum AxV m t uX Xu z] XASl XSm]mS umX Á

16 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

Strategy and supplier selection :lXx A X mxk A Szw Ax Ó A zASl z AmxARmum mx lX u SlAmx zxX mw z Ax ]AS z z Szx mVX m lX lX AmxARmum ð XuA XV u SlAmx zRsXS m X A X Szx m Xx m l lX Szw Ax Ó z X Auu u SlAmx wAxAkXwXx A Xk  lmSl mx x VX XxV zx lX Szw Ax ð XSm]mS R mxX wzVXuÁ 3lm m mw z Ax RXSA X mkxm]mSAx Vm S X AxSmX wA uXAV z m A mzx mx lmSl A Szw Ax m xARuX z X XS X Xm lX X z] zRsXS m X Á 3z X lA  lm XS mzx X Au A X z lA X Xx Szw AxmX mw uXwXx lXm A Xk R X Awmxmxk lX mw AS z] AmxARmum zx ]z X Aw uX lX umX XuXS mzx zSX ñ lmSl m lX X Szw X mxk X m XwXx Sl A A A XxX z] Sz  mwX Aum AxV AmxARmum ]AS z xXXV z RX RAuAxSXVÁ Opportunities 0zRXSz1 " m Szx mxSXV lA Ax X]]mSmXx AxV Xuuð mx Xk A XV u SlAmx wAxAkXwXx A Xk muu Au z uXAV z z z xm mX Á 3lX ] AwX z t AVV X X lm R uzztmxk A X Aw uX z] AmxARmum mxm mA m X mx lX u SlAmx AxV X uz mxk lX X Xx z lmSl A Szw Ax lA VX m XV Aum A m X AxV Ax m A m X RXxX]m ] zw lX XÁ Aw uX z] Sl z z xm mX Sz uV mxSu VX ]z mx AxSX A XwA mS lm] A A ] zw Am ] Xmkl z A V zAV ] Xmkl  lX XR XV Smxk Sz lmuX lA mxk A z m m X X]]XS zx lX Xx m zxwXx Á Measuring performance and transparency 3lX ] AwX z tÓ ]mxAu XS mzx XXt z zR Amx mx mkl mx z lX z SzwX z] A Szw Ax Ó u SlAmx wAxAkXwXx AS m m mX Á 3lm mxSu VX lz A Szw Ax wXA X X ]z wAxSX AxV X A kX ]z Vm]]X Xx tX X ]z wAxSX mxVmSA z ã - é A Xuu A lX lz z klxX AxV Aum z] m RumS X z mxk zx u SlAmxð XuA XV z mS Á X AS mSX mx RumS X z mxk mxSu VX A Szw XlXx m X AxkX z] XuXwXx Sl A lmklðuX Xu m t AxAu m AxV VX S m mzx z] m t wAxAkXwXx wXA X  lX Szw Ax Ó AxVA V ]z umX z AmxARuX SlA mxk zumS A Xuu A Ax z X mX z] lX wz mw z Ax u SlAmx - Á

4. Findings from the first year of data analysis 3lX SuXA X X u VX m XV ] zw lX AxAu m z] VA A SzuuXS XV ]zuuz mxk lX mx zV S mzx z] lX xX u SlAmx ] AwX z t mx lX z z A X 1 AmxARmum X wXx m lA Szw AxmX A X A mxk z VX z X k XA X A Xx mzx z lXm u SlAmx AxV z lX wAxAkXwXx z] AmxARmum m t AxV z z xm mX XuA XV z lXm umX Á -A mSm A mxk Szw AxmX ] zw A R zAV AxkX z] XS z Szx mVX u SlAmx

wAxAkXwXx z RX Awzxk lX wz ]mxAxSmAuu XuX Ax z mS ]z lXm z X A mzx Á Au lz kl lm RsXS m kAmxmxk mxS XA XV A Xx mzx m m Au z SuXA lA Szw AxmX Ó mx X xAu AS mSX A X w Sl wz X AV AxSXV lAx lXm X X xAu X z mxk z uV kkX Á 3lm lA z XV z RX Ax SlmuuX Ó lXXu ]z wAx Szw AxmX  A mx X z AxV z lX AtXlzuVX wA xz RX ] uu A A X z] lX wAxxX AxV X Xx z lmSl Szw AxmX A X wAxAkmxk AmxARmum m t AxV z z xm mX mx lXm u SlAmx Á Public scrutiny contributes to improved practices :lXx Szw A mxk A X AkX AxV z Sz X AS z ]m X Vm]]X Xx XS z  A lz x mx mk X  m m SuXA lA lX AVz mzx z] AmxARuX u SlAmx AS mSX A mX ] zw mxV z mxV Á 3lz kl lX X m xz mxkuX X uAxA mzx ]z Sl Vm]]X XxSX  zwX z] lX ]AS z lA wA lA X mx]u XxSXV lX A mxk VXk XX z] AVz mzx z] AmxARuX u SlAmx AS mSX mx lX Vm]]X Xx XS z A X z umxXV RXuz à Á 1XS z Sl A ]zzV zV SX AxV X AmuX  lmSl lA X A Vm XS XuA mzx lm m l S zwX  lA X RXXx xVX RumS S mx ]z A uzxk mwX ñ ] zw # %  wXVmA AxV Szx wX Á z ]zzV zV SX  lX wAmx SzxSX x lA RXXx zV S ASXARmum  lmSl m xA Au RXSA X XxV Szx wX z] ]zzV zV S Ax z txz ARz Rz l lX Szx Xx z] lX ]mxAu zV S AxV lX z mkmx z] lX mxk XVmXx ñ wAmxu V X z z Xx mAu lXAu l Szx X XxSX Á z X AmuX  A Xx mzx lA ]zS XV wz X zx z tmxk SzxVm mzx XuA XV z z z Smxk z uz ðSz Sz x mX Á 3lm lA ]z SXV Szw AxmX mx lX X XS z z RXSzwX XA u wz X mx X w z] AVV X mxk m t XuA mxk z u SlAmx m X Á

Á 1XS z Sl A mxV mAu XxkmxXX mxk ñ lz X u SlAmx lA X A lmkl Xx m zxwXx Au mw AS ñ AxV lA Xu lXA mu zx S m mSAu umX AxV zxð mwX VXum X  lA X Au z RXXx ]z SXV z RXSzwX XA u AVz X z] AmxARuX u SlAmx wAxAkXwXx AS mSX Á - RumS X X lA RXXx zxX XA zxÁ z X X  A wz X mkxm]mSAx wz m X lA RXXx lX xXXV z Xx X R mxX Szx mx m m l lXm S m mSAu umX AxV lX xXXV z z t m l umX z uX X AkX z z xm mX z VXS XA X XxX k Sz ]z z z SXV X z SXðmx Xx m X zV S mzxÁ Á 3lX Szw X lA V A X AxV XuXS zxmS z]]mSX X m wXx XS z lA XSXx u RXk x z X X mXxSX X X xAu X X AxV RumS S mx  ]z Smxk m z ASSXuX A X lX VX Xuz wXx z] AmxARuX u SlAmx AS mSX Á xS XA XV wXVmA Szx wX AxV # % S mx lA uXV z lX uA xSl z] XS z ð mVX SzuuARz A m X mxm mA m X  lmSl wA X uAmx lX lmkl A X AkX Sz X mx lm XS z Á Á 1X mSXð XuA XV XS z Sl A ]mxAxSmAu X mSX  lA X xz X X X mXxSXV A lmkl VXk XX z] X X xAu z mx X xAu X X XuA mxk z lXm u SlAmx Á 3lm m zxX XA zx ]z lX uz X Sz X AxV AVz mzx A X mx lX X XS z Á 3lm VzX xz wXAx lz X X  lA A XuuðwAxAkXV u SlAmx m z] xz wA X mAu mw z AxSX ]z lX X XS z  lmSl z] Xx Xu lXA mu zx z z Smxk lXm 3 X mSX AxV z lX tX R mxX zSX X lA A X Suz Xu umxtXV z lXm R mxX Szx mx m AxV Sz X AS m m mX Á

Figure 3: Supply chain management performance by sector 100 90 80 70

Score

60 50 40 30 20 10 0

Food Producers

General Retailers

Industrial Engineering

Computer Hardware & Electronic Office Equipment

Financial Services

Average supply chain management score Top supply chain management score Sourceà 0zRXSz1 "

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 17

Companies begin managing risk before measuring exposure %xX z] lX wz mw z Ax SzxVm mzx ]z wAxAkmxk AmxARmum mx lX u SlAmx X]]XS m Xu m ]z Szw AxmX z RX ]]mSmXx u txz uXVkXARuX zx lX SlA AS X m mS z] lXm umX AxV A A X z] lXm XxV m l XASl z] lX X umX Á %xu lXx SAx Szw AxmX VX X wmxX lmSl z] m umX A X S m mSAu AxV lmSl zxX z X lmkl XSzxzwmS Xx m zxwXx Au z zSmAu m t Á lX zuV AVAkX kzX  ÐA Szw Ax SAxxz wAxAkX lA m SAxxz wXA XÁÑ 1 muu lX VA A SzuuXS XV V mxk lX ]m XA z] A u mxk lX xX u SlAmx ] AwX z t lz lA A AVz mSAuu  wAx Szw AxmX lA X RXk x z wAxAkX lXm ã X SXm XVé m t RX]z X wXA mxk lXm AS Au X z X z Sl m t Á u lz kl ARz ¡ © z] A mSm A mxk Szw AxmX lA X AxVA V ]z umX mx uASX zxu ¢© lA X SzxV S XV A XuuðVzS wXx XV XxV AxAu m mxSu Vmxk R XAtVz x R Sz x  umX SA Xkz  Awz x Xx AxV x wRX z] umX Á

3lX VA A lz lA A AVz mSAuu  wAx Szw AxmX lA X RXk x z wAxAkX lXm X SXm XV m t RX]z X wXA mxk lXm AS Au X z X z Sl m t Á A XxX  ASXARmum AxV Ax A XxS A X S SmAu z Xx mxk lX AmxARuX wAxAkXwXx z] A Szw Ax Ó u SlAmxÁ lz x mx mk X AxV  uX lAx zxXð lm V z] A mSm A mxk Szw AxmX SAx mVXx m] lXm S m mSAu AxV lmklð m t umX Á uXA u  Szw AxmX muu lA X A uzxk A z kzÁ zw AxmX lA uASt A A XxX z] lXm m t X z X A X xARuX z VX X wmxX lX z mwAu uX Xu z] m t wAxAkXwXx  X u mxk mx A uASt z] ]zS AxV wm Vm XS XV Sz u mxm mA m X Á A A XxX z] X z X AuzxX m xz Xxz klà zxu zxXð lm V z] lX Szw AxmX ARuX z mVXx m] lmklð m t umX Au z SzxV S A Vm z] lX X umX Á Standards for suppliers – a first step, but what does it cover? x AxAu m z] lX wXA X AVz XV R A mVX AxkX z] Szw AxmX XXtmxk z mw z X lX AmxARmum X ]z wAxSX z] lXm u SlAmx X XAu  A mxVmSA XV XA umX  lA lX mSAuu RXkmx R mx zV Smxk A SzVX z] SzxV S z A X z] AxVA V ]z umX Á 3lm m A ]m kzzV X RXSA X m X m X lXm umX z AVz A SX Amx uX Xu z] zSmAu AxV Xx m zxwXx Au AxVA V Á

18 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

Figure 4: Supplier spend analysis

29%

71%

% of participating companies conducting detailed spend analysis % of participating companies that did not conduct detailed spend analysis Sourceà 0zRXSz1 "

Figure 5: Companies identifying critical suppliers

32%

68%

% of participating companies identifying critical suppliers % of participating companies that have not identifed critical suppliers Sourceà 0zRXSz1 "

Figure 6: Companies identifying and auditing high-risk suppliers

27%

10%

% of participating companies auditing their high-risk suppliers

73%

% of participating companies Identifying high-risk suppliers % of participating companies that have not identified high-risk suppliers Sourceà 0zRXSz1 "

Œ‹ A Suz‡X† AxAu”‡m‡ ‡lz’‡ ‹lA‹ ‹lX Â…ÂŒAum‹” z] ‹lX‡X ‡‹AxVA†V‡ ‘A†mX‡ Awzxk SzwƒAxmX‡Â A‡ ‡lzÂ’x mx mkΠX  à "z‡‹ SzwƒAxmX‡ mxSuÂŒVX kÂŒmVXumxX‡ zx Xx‘m†zxwXx‹Au AxV zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” ‡‹AxVA†V‡Â lÂŒwAx †mkl‹‡Â RŒ‡mxX‡‡ X‹lmS‡ AxV Â’z†tmxk SzxVm‹mzx‡à zÂ’X‘X†Â ‡‹AxVA†V‡ †XÂ…ÂŒm†mxk ‡ŒƒƒumX†‡ ‹z AVzƒ‹ Xx‘m†zxwXx‹Au wAxAkXwXx‹ ‡”‡‹Xw‡ AxV Vm‡Suz‡X Xx‘m†zxwXx‹Au AxV ‡zSmAu VA‹A A†X ‡‹muu †A†XĂ x AVVm‹mzxĂ‚ uX‡‡ ‹lAx lAu] z] ‹lX SzwƒAxmX‡ ƒA†‹mSmƒA‹mxk mx ‹lX 1 †XÂ…ÂŒm†X ‹lXm† ‡ŒƒƒumX†‡ ‹z Aƒƒu” ‹lX ‡AwX ‡X‹ z] ‡‹AxVA†V‡ ‹z ‹lXm† zÂ’x ‡ŒRSzxܠAS‹z†‡à 3lm‡ wXAx‡ ‹lX SzwƒAx” zxu” lA‡ Szxܠzu z‘X† ‹lX ‡‹AxVA†V‡ Œ‡XV R” m‹‡ ]m†‡‹ð‹mX† ‡ŒƒƒumX†‡Â RŒ‹ lA‡ xz ‘m‡mRmum‹” ]Œ†‹lX† VzÂ’x m‹‡ ‡Œƒƒu” SlAmxĂ‚ ƒz‡mxk A wAsz† ƒz‹Xx‹mAu †m‡t ]z† ‹lX SzwƒAx”Ă

From sustainable supply chain management to transparency

A‡XV zx VA‹A kA‹lX†XV ]†zw ‹lX Auwz‡‹ ¥™™ ƒA†‹mSmƒA‹mxk SzwƒAxmX‡ mx ‹lm‡ ”XA†Ó‡ 1 A‡ Â’Xuu A‡ Ax AVVm‹mzxAu ¢Â™Â™ A‡‡X‡‡wXx‹‡ SA††mXV zŒ‹ Œ‡mxk ƒŒRumSu” A‘AmuARuX mx]z†wA‹mzxĂ‚ SzwƒAxmX‡ A†X Â’z†tmxk lA†V ‹z ÂŒxVX†‡‹AxV ‹lX mwƒAS‹ z] ‹lXm† ‡Œƒƒu” SlAmx‡ AxV wAxAkX ‹lX A‡‡zSmA‹XV †m‡t‡ AxV zƒƒz†‹Œxm‹mX‡à zÂ’X‘X†Â A‡ ‡lzÂ’x mx mkΠX ÂĄĂ‚ ܠAx‡ƒA†XxS” †XwAmx‡ mx m‹‡ mx]AxS” AS†z‡‡ mxVŒ‡‹†mX‡ AxV †XkmzxÂ‡Ăƒ "z‡‹ SzwƒAxmX‡ ƒŒRumSu” Vm‡Suz‡X ‹lXm† ‡‹AxVA†V‡ ]z† ‡ŒƒƒumX†‡Â RŒ‹ uX‡‡ ‹lAx zxXð‹lm†V †Xƒz†‹ zx †m‡t wAxAkXwXx‹ wXA‡Œ†X‡ ‡ŒSl A‡ AÂŒVm‹‡Â SzuuARz†A‹m‘X ‡Œƒƒu” SlAmx mxm‹mA‹m‘X‡ AxV tX” ƒX†]z†wAxSX mxVmSA‹z†‡ †XuA‹mxk ‹z ‹lXm† ‡Œƒƒu” SlAmxĂ X‡‡ ‹lAx ›™Š z] ‹lX SzwƒAxmX‡ Vm‡Suz‡X mx]z†wA‹mzx zx ‹lXm† †m‡t A‡‡X‡‡wXx‹‡ AxV †m‡t X“ƒz‡Œ†X‡Ă

Figure 7: Sustainability factors covered in companies’ standards for suppliers 100%

Share of participanting companies

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Environmental Occupational Standards Health & Safety Standards

Human Rights

Business Ethics

Working Conditions

SubEnvironmental Environmental contracting Management Data Guidance Systems

Social Data

SourceĂƒ 0zRXSz1 "

Figure 8: Supply chain topics covered in public company reports2 100% 90% 80% 70% 60% 50% 40% 30%

› A‹A mx ‹lm‡ k†Aƒl mxSuÂŒVX‡ Auu SzwƒAxmX‡ ‹lA‹ ƒA†‹mSmƒA‹XV mx ‹lX 1 Ă‚ ƒuŒ‡ Ax AVVm‹mzxAu ¢Â™Â™ SzwƒAxmX‡ ‹lA‹ Â’X†X A‡‡X‡‡XV Œ‡mxk ƒŒRumSu” A‘AmuARuX mx]z†wA‹mzxĂ

20% 10% 0%

Standards for Suppliers

Exposure & Awareness

Risk Management Measures

Key Performance Indicators

SourceĂƒ 0zRXSz1 "

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 19

5. Conclusion and outlook % X lX uA VXSAVX Szw AxmX lA X A Xw XV z xVX AxV lXm z x Xx m zxwXx Au zSmAu AxV XSzxzwmS mw AS  wXA X lXw wAxAkX lXw AxV X z zx lXwÁ X Awmxmxk lXm u SlAmx  lX A X zxX X Suz X z VX X wmxmxk lX XAu mw AS z] lXm z X A mzx  lX X Xx z] lXm wA X mAu m t X z X  AxV lX ] uu AxkX z] z z xm mX lA SAx RX SA XV R wAxAkmxk R mxX mx A AmxARuX wAxxX Á "Ax Szw AxmX Ó Xx m zxwXx Au AxV zSmAu mw AS AxV X A mzxAu m t A X uA kXu SzxSXx A XV

"AxAkmxk u SlAmx m t AxV wXA mxk lXm mw AS m lz Atmxk A lzum mS mX z] XSzxzwmS Xx m zxwXx Au AxV zSmAu mx AxkmRuX m xz zxu x m X m m mw z mRuXÁ mx lXm u SlAmx A lX lAx m lmx lXm z x z X A mzx Á lX AwX mwX lX Xu zx XAV  xVm XV umX z] zV S AxV X mSX z XwAmx z]m ARuX Xuu mx z lX ] XÁ "AxAkmxk lX X SlAuuXxkX AxV wXA mxk lXm mw AS m lz Atmxk A lzum mS mX z] XSzxzwmS Xx m zxwXx Au AxV zSmAu mx AxkmRuX m xz zxu x m X m m mw z mRuXÁ Momentum toward awareness and transparency 0X u ] zw lX ]m XA z] A u mxk lX XxlAxSXV u SlAmx wAxAkXwXx AxAu mSAu ] AwX z t kkX lA Au lz kl A A XxX z] m t X z X AxV Ax A XxS XwAmx umwm XV wAx Szw AxmX A X mxk k XA X]]z mx z VX Xuz mxk A XkmX ]z mx Xk A mxk AmxARmum mx z lXm u SlAmx AS mSX Á % X lX uA ]X XA  X X Au ]AS z lA X AVVXV wzwXx w z A V mw z XV Ax A XxS  ASSz x ARmum AxV ASXARmum Á %xX m AtXlzuVX X X uXAVmxk z ] uu Vm Suz X z] umX AxV u SlAmx m t wAxAkXwXx wXA X Á xz lX m AxVA V Sl A lX xX k mVXumxX lA A X mx lX zSX z] RXmxk mx zV SXV R lX uzRAu 0X z mxk xm mA m X lmSl xz mxSu VX u SlAmx tX X ]z wAxSX mxVmSA z lA kz RX zxV l wAx mkl Á x AVVm mzx mx X z Sl A 0zRXSz1 " lA X RXk x z A t Szw AxmX lz lX wAxAkX m t AxV z z xm mX mx lXm u SlAmx mx z VX z VX X wmxX lX lX X A mzxAu m t AxV Sz z A X X zx mRmum mX lA lA X RXXx z z SXV A X RXmxk X]]XS m Xu wAxAkXV ASSz Vmxk z lX AwX AmxARmum AxVA V lA Szw AxmX A u z lXm z x z X A mzx Á

20 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

Moving beyond audits and assessments zztmxk AlXAV mx AVVm mzx z mw z XV Ax A XxS  X X XS z XX k XA X SzuuARz A m X X]]z  SA ASm R muVmxk AxV mxSXx m X ]z umX Á zuuARz A mzx mSAuu AtX zxX z] z ]z w à SzuuARz A m X mxV ð mVX mxm mA m X A XV R # % z Szw AxmX m lmx lX AwX mxV lmSl l z kl lX A mSm A mzx z] X X Au uA kX uA X ] zw lX AwX XS z  SAx X X k XA X uX X AkX z X umX AxV ASSXuX A X SlAxkX SzxxXS XV z wA X mAu m X Á 3lX XSzxV ]z w mx zu X Vm XS SzuuARz A mzx RX XXx mxVm mV Au Szw AxmX AxV lXm tX umX z mVXx m] mxxz A m X zu mzx ]z mw z mxk AmxARuX AS mSX mx lX u SlAmx A Xuu A mx lX zV S AxV X mSX z]]X XV z S zwX Á xz lX A mVu k z mxk XxV muu RX Szw AxmX Ó X]]z z R muV SA ASm Awzxk lXm umX l z kl Amxmxk Szx]X XxSX AxV A A V Á mxAuu  Szw AxmX muu mxS XA mxku z mVX ]mxAxSmAu mxSXx m X Sl A X XxVmxk uzxkX ð X w Szx AS ]z umX lA X ]z w XuuÁ 0zRXSz1 " muu Szx mx X z VX Xuz AxV X]mxX m u SlAmx wAxAkXwXx ] AwX z t z XxSz AkX Szw AxmX z mw z X lXm A A XxX  wAxAkXwXx AxV Vm Suz X zx lXm u SlAmx m t AxV z z xm mX Á 3lX k z mxk Szx Xx Awzxk Rz l Szw AxmX AxV mx X z zx lX wA X mAu XuX AxSX z] u SlAmx wAxAkXwXx z A Szw Ax Ó ]mxAxSmAu X ]z wAxSX m XxSz AkmxkÁ "z mw z Ax u  lm muu lXu V m X wzwXx w ] lX AV AxSmxk AmxARuX AS mSX RX zxV A Szw Ax Ó z x z X A mzx Á

Á muVmxk R mxX Au X mx A SlAxkmxk z uV

Yvo de Boer, KPMG’s Special Global Advisor, Climate Change and Sustainability, explores the environmental and social changes that are impacting businesses today and how companies can navigate these challenges to become fit for the future.

-" x X xA mzxAu ã é XS lX 4xX XS XVà muVmxk R mxX Au X mx A SlAxkmxk z uVÁ 4xm XV mxkVzw 1 X x 0X mX zx lX SzxzwmS z] umwA X lAxkX XS m X 1 wwA Á ã éÁ :A X 0X z SX z Á ã ¢éÁ lA mxk % :A X Xà SzxzwmS ] AwX z t z mx]z w VXSm mzxðwAtmxkÁ 4xm XV #A mzx  X A wXx z] SzxzwmS AxV 1zSmAu ]]Am  -z uA mzx m m mzxÁ ã éÁ :z uV -z uA mzx - z XS à 3lX 0X m mzxÁ Xl Xx  Á mus w 1Á z AxVA Á #m A 1Á ã éÁ 3lX wA X mAu RA m z] lX kuzRAu XSzxzw Á :z uVð mVX A X x mx xA Au X z SX X AS mzx AxV lXm mw umSA mzx ]z AmxARuX X z SX X zumSmX Á SzuzkmSAu SzxzwmS  Á ð Á % X Xuz wXx Xx XÁ ã éÁ :z tmxk -A X #zÁ ¡ à 3lX wX kmxk "mVVuX uA mx X Xuz mxk z x mX Á % X Xuz wXx Xx XÁ ã éÁ :z tmxk -A X #zÁ ¡ à 3lX wX kmxk "mVVuX uA mx X Xuz mxk z x mX Á

mxX X zVA A X z X A mxk mx Ax X X wz X mx X SzxxXS XV AxV kuzRAum XV z uVÁ 1 u SlAmx X Sl AS z Szx mxXx AxV A X uxX ARuX z Vm mzxÁ zwX VXwAxV AxV kz X xwXx zumSmX A X SlAxkmxk A mVu AxV l XA Xx z mw AS Rz zw umxX m] R mxX X Vz xz X zxVÁ kAmx lm RAStk z xV z] Szw uX m X ]ASX A xX X z] SlAuuXxkX Á z XA z wz X X lA X XSzkxm XV lA lX A X Vz R mxX lA X mz mw AS zx lX z uV A z xV Á #z m m SuXA lA lX A X z] lX z uV A z xV mxS XA mxku A]]XS lX A X Vz R mxX Á x A XSXx X z  -" lA X uz XV lX SlAuuXxkX  m t AxV z z xm mX ]ASXV R R mxX X A A X u z] lX wA m X Xx m zxwXx Au AxV zSmAu SlAxkX Atmxk uASX mx z z uVÁ1

Ten environmental and social megaforces :X AxAu XV Vz Xx z] ]z XSA z mVXx m] lX SlAxkX lA muu lA X lX k XA X X]]XS Á 3lX X u m A X z] Xx Xx m zxwXx Au AxV zSmAu wXkA]z SX lA -" z]X mzxAu RXumX X muu mw AS X X R mxX z X lX xX z VXSAVX Á 3lX A Xà Climate Change: umwA X lAxkX m lX zxX kuzRAu wXkA]z SX lA Vm XS u mw AS lX z lX xmxXÁ - XVmS mzx z] Axx Au - uz X ] zw SumwA X SlAxkX AxkX RX XXx X SXx X XA  m] zxk AxV XA u AS mzx m AtXx z A uXA X SXx A XA m] zumS wAtX ]Amu z AS Á2 Energy & Fuel: z mu ] Xu wA tX A X umtXu z RXSzwX wz X zuA muX AxV x XVmS ARuX RXSA X z] lmklX kuzRAu XxX k VXwAxVÄ SlAxkX mx lX kXzk A lmSAu A X x z] Szx w mzxÄ u AxV zV S mzx xSX Amx mX Ä AxV mxS XA mxk Xk uA z mx X Xx mzx XuA XV z SumwA X SlAxkXÁ

22 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

Material Resource Scarcity: VX Xuz mxk Sz x mX mxV mAum X A mVu  kuzRAu VXwAxV ]z wA X mAu X z SX m mxS XA mxk V AwA mSAuu Á mxX m umtXu z ]ASX mxS XA mxk AVX X mS mzx AxV mx Xx X kuzRAu Szw X m mzx ]z A mVX AxkX z] wA X mAu X z SX lA RXSzwX uX XA mu A AmuARuXÁ %x lX ]um mVX SA Sm Au z S XA X z z xm mX z VX Xuz R m X wA X mAu z z XSz X wA X mAu ] zw A XÁ Water Scarcity: m XVmS XV lA R  lX kuzRAu VXwAxV ]z ] X l A X muu X SXXV u R X SXx Á3

mxX X muu RX uxX ARuX z A X lz AkX  VXSumxX mx A X Aum  A X mSX zuA mum  AxV X A mzxAu SlAuuXxkX Á z l wA RX Szw zwm XV AxV Szx]umS z X A X umX wA S XA X A XS m m t z R mxX z X A mzx Á Population Growth: uzRAu z uA mzx m XVmS XV z RX ¡Á Rmuumzx R mx A wzVX A X k z l SXxA mzÁ 3lm k z l muu uASX mx Xx X X X zx XSz Xw AxV lX u z] xA Au X z SX Sl A ]zzV A X  XxX k AxV wA X mAu Á mxX X SAx X XS u SlAuuXxkX AxV mSX zuA mum A A X u Á 3lm m A l XA  R lX X A X Au z z z xm mX z k z SzwwX SX S XA X szR  AxV z mxxz A X z AVV X lX xXXV z] k z mxk z uA mzx Á Wealth: 3lX kuzRAu wmVVuX SuA ãVX]mxXV R lX % A mxVm mV Au m l Vm z ARuX mxSzwX z] RX XXx 41­ AxV 41­ X SA m A X VA é m XVmS XV z k z X SXx RX XXx AxV Á 3lX SlAuuXxkX ]z R mxX X m z X X lm xX wmVVuX SuA wA tX A A mwX lXx X z SX A X umtXu z RX SA SX AxV wz X mSXð zuA muXÁ 3lX AV Ax AkX wAx Szw AxmX X X mXxSXV mx lX uA z VXSAVX ] zw ÐSlXA uARz Ñ mx VX Xuz mxk xA mzx A X umtXu z RX X zVXV R lX k z l AxV z X z] lX kuzRAu wmVVuX SuA Á

Urbanization: x ¢Â ]z lX ]m mwX X X  wz X Xz uX um XV mx Sm mX lAx mx lX Sz x mVXÁ¡ Auu VX Xuz mxk Xkmzx mxSu Vmxk mA AxV ] mSA A X X XS XV z lA X lX wAsz m z] lXm mxlARm Ax um mxk mx RAx A XA Ä m Auu Auu z uA mzx k z l z X lX xX XA muu RX mx Sm mX Á¢ 3lX X Sm mX muu X m X X Xx m X mw z XwXx mx mx] A S X mxSu Vmxk Szx S mzx A X AxV Axm A mzx XuXS mSm  A X Ax z  lXAu l RumS A]X AxV mx X xX AxV SXuu lzxX SzxxXS m m Á ¡ 4# ARm A Á ã éÁ 1 A X z] lX :z uVÓ m mX ê ñ m mX ]z uuÃ

mVkmxk lX 4 RAx m mVX ¢ 4# ARm A Á ã éÁ 1 A X z] lX :z uVÓ m mX ê ñ m mX ]z uuÃ

mVkmxk lX 4 RAx m mVX % ]Aw x X xA mzxAuÁ ã éÁ z mxk A X X Xà zzV s mSX mx A X z SXðSzx AmxXV z uVÁ

Food Security: x lX xX z VXSAVX lX kuzRAu ]zzV zV S mzx Xw muu SzwX xVX mxS XA mxk X X ] zw wXkA]z SX mxSu Vmxk -z uA mzx z l :A X 1SA Sm AxV X]z X A mzxÁ uzRAu ]zzV mSX A X XVmS XV z m X ñ¢ X SXx R Á10 x A X ð SA SX Xkmzx  Ak mS u Au zV SX A X umtXu z lA X z Szw X X ]z umX m l z lX A X ðmx Xx m X mxV mX Sl A XuXS mS mum mX AxV wmxmxk AxV m l Szx wX Á

Ecosystem Decline: zzV AxV k mS u X m z mSAuu  lX mwA R mxX m t z] VXSumxmxk % kAxm A mzx z] lX RmzVm X m AxV XSz Xw X mSX lA RXXx z 4xm XV #A mzx ã %éÁ ã éÁ uzRAu z X Sz z A X X A mzx Á z X X  A kuzRAu XSz Xw 0X z SX X wXx lz mxS XA mxk mkx z] R XAtVz x AxV X  Á wz X Szw AxmX A X XAum mxk lz VX XxVXx lXm 4 | Prepare for the future: Sustainability as a business driver % Á ã ¡éÁ % z X A mzx A X zx lX S m mSAu X mSX lX X XSz Xw x m zxwXx Au % uzzt z mVXÁ 3lX VXSumxX mx XSz Xw m wAtmxk z Á

Figure 1: Ten global sustainability megaforces

xA Au X z SX SA SX  wz X X Xx m X AxV uX Vm X XÄ mxS XA mxk lX Sz z] A X AxV X SAuA mxk lX VAwAkX SA XV R mx A m X XSmX z XS z mxSu Vmxk Ak mS u X ]m lmxk ]zzV AxV RX X AkX  lA wASX mSAu AxV z m wÁ Deforestation: z X A X Rmk R mxX Á :zzV zV S Szx mR XV 41­ Rmuumzx X XA z lX kuzRAu XSzxzw ] zw ñ AxV lX Au X z] xzxð zzV ]z X zV S ãwz u ]zzVé A X mwA XV A 41­ ¡Á Rmuumzx mx Á11 <X ]z X A XA A X XVmS XV z VXSumxX R X SXx ] zw z  wz u mx 1z l mA AxV ] mSAÁ12 3lX mwRX mxV AxV Vz x XAw XS z Sl A u AxV A X A X uxX ARuX z z Xx mAu Xk uA mzx z uz z X X X VX]z X A mzxÁ zw AxmX wA Au z ]mxV lXw Xu X xVX mxS XA mxk X X ] zw S zwX z z X lA lXm zV S A X AmxARuXÁ % z xm mX wA A m X l z kl wA tX wXSlAxm w AxV mxSXx m X z XV SX lX A X z] VX]z X A mzxÁ m mxk XVmS mzx z mVX m l zwX mx mkl ARz lA lX ] X wmkl uzzt umtX mx A z uV R ]]X XV R lX X wXkA]z SX  R X lz uV xz Xu zx lXw z Xuu lX lzuX z Á "Ax XVmS mzx X A zuA X S Xx A X z] SlAxkX m lz Atmxk ] uu ASSz x z] lX ]AS lA wXkA]z SX Xmx]z SX Szw X X m l z RAuAxSX lX X]]XS z] XASl z lX Á z X Aw uX mxS XA mxk XAu l AxV lX k z l z] lX kuzRAu wmVVuX SuA muu ASSXuX A X VXwAxV ]z Szx wX kzzV AxV X mSX  mxk ] lX X X zx lX xA Au AxV wA X mAu X z SX xXXVXV z zV SX lXwÁ 0XkmzxAu ] X l A X A AmuARmum Sz uV kkuX z tXX ASX m l lX Ak mS u Au zV S mzx xXSX A z ]XXV lX k z mxk z uA mzxÁ 4 RAxm A mzx XVmS mzx kXxX Auu Vz xz ASSz x ]z lX z Xx mAu mw AS z] SumwA X SlAxkX X] kXX wmk A mxk ] zw A XA lX X A X AxV ]zzV SA Sm lm lA VX Á 1mwmuA u  ]zzV zV S mzx zsXS mzx A Xu ]AS z mx VX X mz A mxk zmu Aum AxV lX Szw X mxk VXwAxV ]z Ak mS u Au uAxVÁ

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Sourceà -" x X xA mzxAu ã éÁ XS lX 4xX XS XVà muVmxk R mxX Au X mx A SlAxkmxk z uV

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 23

- zsXS mzx lA Vz xz Szx mVX lX Xx m X Xw z] wXkA]z SX SAxxz z mVX Ax AVX A X RA m ]z A XkmS R mxX VXSm mzx Á 3lA m l -" wXwRX ]m w z]X mzxAu XxSz AkX lXm SumXx z AVz Xw lmxtmxk A z xV AmxARmum ñ z Szx mVX lX Xx m X S X z] wXkA]z SX  A lX lAx mxVm mV Au Szx m Xx Á 3lm m Ax mw z Ax A z A X AxV wAxAkX xX m t  AxV xSz X X m mxk m t lA X X X mz u xmVXx m]mXVÁ

m VXx ]z Szw AxmX z X XS z A mx lX ] X A m mxk z z mzx z] lXm X X xAu Xx m zxwXx Au Sz Á A A X z mVXV R 3 Sz  Ax mxVX XxVXx Xx m zxwXx Au X XA Sl AkXxS  zx lX z X A mzx z] z X ¡ Szw AxmX RX XXx AxV AxV X X Xx mxk XS z Á 3 Sz Szx X Xx m zxwXx Au mw AS mx z ]mxAxSmAu Au X V A mxk zx S Xx Xx m zxwXx AuðXSzxzwmS X XA SlÁ

z X Aw uX A Szw Ax wA xVX AxV m Vm XS VX XxVXxS zx A X  R wA xz lA X lz kl ARz lz lX u z] m wA X mAu X z SX Sz uV RX mw AS XV R mxS XA mxk A X SA Sm mx lX u SlAmxÁ zw AxmX wA Au XAV RX mxk Xw lmxtmxk mx A XkmS uAxxmxk X Xx X wAxAkXwXx z u SlAmx uAxxmxkÁ x -" Ó mX  Xw lmxtmxk lz uV Au z RX A umXV A A z] A zAS m X AmxARmum A Xk Á

Megaforces: A sectoral view % X lX xX XA lX X m umtXu z RX mxS XA mxk X X ]z lX mSX z] X z SX  zV S AxV X mSX z X]uXS lX ] uu Sz z] lXm zV S mzx mxSu Vmxk lX Sz z] Xx m zxwXx Au AxV zSmAu mw AS Á 3lm X X m umtXu z k z A kz X xwXx AVV X lX X]]XS z] wXkA]z SX Á -z mRuX ] X mxSu VX lX Xwz Au z] R mVmX zx mx SzwwzVm mX ã Sl A ]z mu ] Xu AxV A X é AxV lX mVX mx zV S mzx z] wXSlAxm w z mxS XA X lX Sz z] Xx m zxwXx Auu VAwAkmxk z ã Sl A Xwm mzx AVmxk Xw AxV lmklX A X mSmxkéÁ m lX X]z X VXx ]z Szw AxmX z X XS z A mx lX ] X A m mxk z z mzx z] lXm X X xAu Xx m zxwXx Au Sz  lmSl zVA A X z] Xx xz lz x zx ]mxAxSmAu A XwXx Á

Costs of environmental impacts are doubling every 14 years % AxAu m kkX lA lX X X xAu Xx m zxwXx Au Sz z] tX mxV XS z ãmxSu Vmxk XAw u SlAmxé z X R X SXx RX XXx AxV  ] zw 41­ Rmuumzx z 41­¡ RmuumzxÁ13 3lm kkX lA lX X X xAu Xx m zxwXx Au Sz z] R mxX z X A mzx  AxV R mw umSA mzx lX Xx m zxwXx Au mw AS z] R mxX  A X Vz Rumxk X X XA Á 3lm m A A X lA m xumtXu z RX AmxARuX X Xx mx lX wXVm wð X wÁ

Figure 2: 2010 EBITDA vs external environmental cost 800 700

670

In USD Billions

600 500

482

400 300 223

200

22

22%

52%

Airlines

23%

134

100 0

224%

87%

153

Automobiles

84

100

89

42%

43%

Beverages

Chemicals

Electricity

Food Producers

2010 EBITDA (billion USD) 2010 Total environmental cost as percentage of EBITDA Sourceà -" x X xA mzxAu ã éÁ XS lX 4xX XS XVà muVmxk R mxX Au X mx A SlAxkmxk z uV

24 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

97

71%

Industrial Metals

64% 26 59%

Marine Transportation

2,5%

Mining

Oil & Gas Telecommunications Producers & Internet

3lX XS z AxAu XV X XÃ m umxX Ä zwzRmuX Ä

X X AkX Ä lXwmSAu Ä uXS mSm Ä zzV - zV SX Ä xV mAu "X Au × "mxmxkÄ "A mxX 3 Ax z A mzxÄ "mxmxkÄ %mu × A AxV 3XuXSzww xmSA mzx × x X xX Â Auu VX]mxXV mx umxX m l lX xV uA m]mSA mzx

XxSlwA t XwÁ :X Au z Szw A XV lX X X xAu Xx m zxwXx Au Sz z] lX X XS z m l lXm uX Xu z] XA xmxk ã 3 é AxV ]z xV lA lX X Sz  A X wz u x AmV Sz uV ASSz x ]z A Szx mVX ARuX z z mzx z] XA xmxk AxV lX X]z X X X Xx mkxm]mSAx R mxX Au X z Xx mAuu A AtXÁ S z lX XS z  lX A X AkX X X xAu Xx m zxwXx Au Sz X VzuuA z] XA xmxk z uV lA X RXXx A z mwA Xu SXx mx Á zzV zV SX lAV lX uA kX X X xAu Xx m zxwXx Au Sz ]zz mx z] lX XS z mx A 41­ Rmuumzx ]zuuz XV R XuXS mSm A 41­ ¢ Rmuumzx AxV zmu AxV kA A 41­ RmuumzxÁ 1 mtmxku  lX X X xAu Xx m zxwXx Au Sz z] zzV - zV SX Sz uV z Xmkl lX XS z Ó Xx m X XA xmxk Á z ]m X z lX XS z ã uXS mSm  xV mAu "X Au  "mxmxk "A mxX 3 Ax z A mzx AxV m umxX é Xx m zxwXx Au Sz Sz uV ASSz x ]z wz X lAx lAu] z] XA xmxk Á

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uAxV Á × zxk 0Á ã  #z XwRX é 1 u SlAmx Vm mzxà xtXx AwRm mzx Á mxAxSmAu 3mwX Á 0X mX XV ] zw Á] ÁSzwÁ

m A wm AtX z uARXu lX X m t A ÐwXVm w z uzxk X wÑÁ 3lX A X xz Á 3lX A X mw AS mxk R mxX X lX X AxV xz Á

¡ z m  Á ã  #z XwRX é uzzVmxk AxV V z kl uXA X Szw AxmX m l uz X ñ R wAx x X A XVÁ 3lX A VmAxÁ 0X mX XV ] zw l Ãêê Á k A VmAxÁSzÁ t

z X Aw uX A AxX X SA wAtX zzt A lm xxmxk mx z l xV XV z] wmuumzx z] VzuuA A] X lX ]uzzV mx 3lAmuAxV Vm XV lX kuzRAu u z] A z Szw zxXx Á uz lmxk Szw AxmX A z]m V z mkxm]mSAx u  Au z mx  A] X V z kl AxV ]uzzVmxk A]]XS XV Sz zx umX AxV mSX Á ¡

0Xk uA mzx m mxS XA mxk z uV mVXÁ XxwA t AxV 1z l ] mSA X m X um XV Szw AxmX z X z zx AmxARmum z z X uAmx l lX Vz xz Á 3lX 4 m R mxkmxk mx wAxVA z SA Rzx X z mxkÁ 3lX m X z] Vmkm Au wXVmA wXAx lA Sz z A X X A mzx A X wz X ] AkmuX lAx X X RX]z XÁ xV mx X X Au mAx Sz x mX  z X z X Xx m zxwXx Au AxV zSmAu SzxVm mzx A X mxS XA mxku Szwwzx AxV lA X ]z SXV SlAxkX mx R mxX A XkmX Á %x lX uXkAu ] zx  X A X RXkmxxmxk z XX Xx mzx ] xV X A XV z AtX AS mzx AkAmx lX Szw AxmX lX mx X mx m] lX Vz xz kX lX Ax X lX Ax ARz xzxð]mxAxSmAu X ]z wAxSXÁ

lm m xz Auu ARz m tÁ uzxk m l lX m t  Xx m zxwXx Au AxV zSmAu wXkA]z SX Au z z mVX xmwRuX AxV mxxz A m X R mxX X m l xX z z xm mX Á 3lX X mxSu VX z z xm mX z S z X A mxk Sz AxV mxS XA X X]]mSmXxS Ä z VX Xuz z]m ARuX xX A xX lm m l kz X xwXx  # % AxV z lX R mxX X Ä z mxxz A X xX zV S AxV X mSX  AxV z A mx z xX wA tX Sl A lX 41­ muumzx ÐRA X z] lX AwmVÑ wA tX à lX ]z Rmuumzx Xz uX um mxk zx uX lAx 41­ X XA Á 3lm m l lX umtX z] 4xmuX X  -lmum  - wA AxV wAx z lX A X mxk AmxARmum A lX SXx X z] lXm A XkmX Á x lm Szx X  m XXw mxSzxSXm ARuX lA xA z AxV AVm mzxAu xz mzx z] Szw Ax Au X SAx X m mxVX]mxm Xu Á Ax Szw Ax Au A mzx Szx mx X z uA kXu mkxz X lX m t AxV z z xm mX A zSmA XV m l Xx m zxwXx Au AxV zSmAu wXkA]z SX È 3lX Szwwzxð Xx X Ax X lA z RX ÐxzÑÁ :m l z Xx mAuu ]A XASlmxk mw AS zx lX lz m zx A A X u z] Xx m zxwXx Au AxV zSmAu wXkA]z SX  m m S SmAu lA R mxX X AxV zumS wAtX zkX lX AtX A XkmS VXSm mzx xz AxV zwz X SlAxkX mx uzxkð X w lmxtmxkÁ :m lz AS mzx AxV uAxxmxk ]z lX Szw uX ] X lA umX AlXAV m t muu w u m u AxV z z xm mX muu RX uz Á 1 AmxARuX k z l X m X AS mzx ] zw Rz l XSzxzwmS mVX à u AxV VXwAxVÁ 3lX u mVX w wAtX wz X m l uX  mxS XA mxk X z SX X]]mSmXxS AxV wmxmwm mxk lX Xx m zxwXx Au ]zz mx z] zSX X AxV z X A mzx Á 3lX VXwAxV mVX w wAtX uX Vz wz X wAxAkmxk k z mxk VXwAxV ]z kzzV AxV X mSX  lmuX AVV X mxk X X zx V mxVumxk xA Au X z SX Á

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 25

Recommendations: the essentials of business action "XkA]zย SXย wXAx Szxย ย ย Amxย ย ร Szwย uXย mย ย AxV ย mย tย ]zย Rย ย mxXย ย ร ย ย Rย ย mxXย ย uXAVXย ย SAx Vz wย Sl wzย X ย lAx ย mwย uย ย ย ย ย mย X ย lX ย mย tย ร :mย l ]zย Xย mklย AxV ย uAxxmxk ย lXย SAx ย ย ย x ย mย tย mxย z xXย zย ย zย ย ย xmย mXย AxV ย ย Xย Aย X ]zย ย ย SSXย ย mx Ax ย xSXย ย Amx ]ย ย ย ย Xร %ย ย ย XSzwwXxVAย mzxย ย z Rย ย mxXย ย mxSuย VXร Understand and assess risks: :X AVย mย X Rย ย mxXย ย Xย ย z ย ย X xย Xย ย ย mย X 0mย t "AxAkXwXxย ย zzuย AxV ย ย ย ย AmxARmumย ย ย ย ย ย Xwย ย lmxtmxk ย z Aรฉ Aย ย Xย ย AxV ย xVXย ย ย AxV ]ย ย ย ย X ย mย tย ]ย zw ย ย ย ย AmxARmumย ย wXkA]zย SXย AxV Rรฉ VX]mxX ย Xย ย zxย Xย ย z VXAu ย mย l ย lXw ย lย zย kl X]]mSmXxSย ร ย ย Rย ย mย ย ย mzx zย AVAย ย Aย mzxร

:X SAx xXย Xย RX SXย ย Amx ARzย ย ย lX ]ย ย ย ย Xร Rย ย mย mย kzzV Rย ย mxXย ย ย Xxย X ย z RX ย ย Xย Aย XV ]zย ย lX ย zย ย mRmumย mXย ร Use integrated strategic planning and strategy development: 1ย ย Aย XkmS ย uAxxmxk ]zย ย ย ย ย AmxARmumย ย ย Xย ย mย Xย ย lX mxย zuย XwXxย z] ย Xxmzย wAxAkXwXxย AxV ย lzย uV XxSzwย Aย ย A ย mVX ย AxkX z] Szย ย zย Aย X ]ย xSย mzxย ร Turn strategic plans into ambitious targets and actions:

zuV ย Aย kXย ย SAx Vย mย X XxXย kย AxV ย Xย zย ย SX X]]mSmXxSย ร ย ย ย ย AmxARuX ย ย ย ย uย SlAmx wAxAkXwXxย ร mxxzย Aย mzx AxV ASSXย ย ย z xXย wAย tXย ย ]zย kย XXxXย ย ย zVย Sย ย AxV ย Xย ย mSXย ร Measure and report on sustainability: 1ย ย ย AmxARmumย ย ย Xย zย ย mxkร Auย lzย kl uAย kXuย ย ย muu ย xย Xkย uAย XVร mย RXSzwmxk mxSย XAย mxkuย mwย zย ย Axย AxV mย Auย XAVย wAxVAย zย ย mx ย zwX Szย xย ย mXย ร xย Xkย Aย XV ย Xย zย ย mxkร ย lXย X ย ย ย ย AmxARmumย ย mx]zย wAย mzx mย mxSuย VXV mx ย lX ]ย uu ย mSย ย ย X z] ย lX Szwย Axย ร ย Rย ย mxXย ย ย Xย ]zย wAxSXร mย A kย zย mxk ย ย XxVร zย mxย Xkย Aย XV ย Xย zย ย mxk Szwย AxmXย xXXV ย z Rย muV A ]ย AwXย zย t ]zย ย ย ย ย AmxARmumย ย ย Xย zย ย mxk ย ย zSXย ย Xย ร ย ย ย zxkXย mx]zย wAย mzx ย ย ย ย Xwย AxV Aย ย ย zย ย mAย X kzย Xย xAxSX AxV Szxย ย zu wXSlAxmย wย zx A ย Aย ย mย l ย lzย X Sย ย ย Xxย uย ย ย XV mx ]mxAxSmAu ย Xย zย ย mxkร

26 รข 0zRXSz1 " รข 3lX 1ย ย ย AmxARmumย ย <XAย Rzzt ย ย ย ย

Seek collaboration with business partners on sustainability issues: 3lmย ย muu RX Sย mย mSAu ย z mxSย XAย X uXย Xย AkX AxV mwย ย zย X ย lX Szย ย รฐRXxX]mย ย Aย mz z] ASย mzxร Build strategic partnerships: 1XXt zย ย zย ย ย xmย mXย ]zย kXxย mxX VmAuzkย X ย mย l kzย Xย xwXxย ย AxV VXwzxย ย ย Aย X xXย AxV mxxzย Aย mย X Aย ย ย zASlXย ย z -ย RumSรฐ-ย mย Aย X -Aย ย xXย ย lmย ย ร mAuzkย X ย lzย uV ]zSย ย zx XSzxzwmS mxย ย ย ย wXxย ย ย lAย Szย uV ย XVย SX wAย tXย RAย ย mXย ย AxV wAtX ย ย ย ย AmxARuX Rย ย mxXย ย zย Xย Aย mzx XAย mXย ร

Imperatives for achieving sustainable growth 3lX ย ย Axย mย mzx ย z A ย ย ย ย AmxARuX XSzxzwย mย ย zย ย mRuXร Rย ย mย xXXVย ย mVXย ย ย XAV kuzRAu ย ย ย ย zย ย ]ย zw Rย ย mxXย ย Xย ร kzย Xย xwXxย ย AxV Smย mu ย zSmXย ย AxV mxxzย Aย mย X ย zuย ย mzxย ย lAย AVVย Xย ย Rzย l lzย AxV ย lmSl kzzVย AxV ย Xย ย mSXย Aย X ย ย zVย SXVร 3lX ย ย RumS AxV ย ย mย Aย X ย XSย zย ย Rzย l lAย X A ย mย Au ย zuX ย z ย uAย AxV A Szzย VmxAย XV Aย ย ย zASl lzuVย ย lX tXย ย z ย ย SSXย ย ร

ย ย ย lAย wXAxย wzย mxk zx ]ย zw zuV xzย mzxย z] Szย ย zย Aย X ย Xย ย zxย mRmumย ย ]zSย ย XV zx ย ย zย XSย mxk AxV XxlAxSmxk ย Xย ย ย Aย mzxร ย wXAxย RXmxk Aย Aย X ย lAย ย zย ย Rย ย mxXย ย ย ย AxVย ย z RX A]]XSย XV Aย ย ย ย ย umXย z] ]ย Xย lย Aย Xย VXSย XAย Xร Szย ย ย z] XxXย kย ย mย X AxV XSzย ย ย ย Xwย VXSumxXร xzย mxk ย lAย ย lzย X X]]XSย ย wmklย RX AxV lzย ย zย ย Rย ย mxXย ย SAx wAxAkX ย lXw ย ย SSXย ย ]ย uuย ย Xย ย mย Xย A ย zย lmย ย mSAย XV ย xVXย ย ย AxVmxk z] ย lXย X ]ASย zย ย AxV lzย ย lXย ย zย tร ย ย lX ย AwX ย mwXร Szxย ย wXย AxV mxย Xย ย zย ย Auย Xย Aย X SlAxkmxkร xV Aย ย lXย SlAxkXร wzย X Szย ย zย Aย mzxย Aย X ย XSzkxmย mxk ย lAย ย lXย X mย ย ย z]mย AxV zย ย zย ย ย xmย ย mx A Rย zAVXย ย Xxย X z] ย Xย ย zxย mRmumย ย RXย zxV ย lX xXย ย ย ย Aย ย Xย ร ย ย Xย ย uย ย ร 3lX RzuVร ย lX ย mย mzxAย ย AxV ย lX mxxzย Aย mย X ย XSzkxmย X ย lAย ย lAย mย kzzV ]zย ย Xzย uX AxV ย lX ย uAxXย SAx Auย z RX kzzV ]zย ย lX uzxkรฐย Xย w Rzย ย zw umxX AxV ย lAย XlzuVXย ย Auย Xร zwย Xย mย mย X AVย Axย AkX SAx RX SAย ย XV zย ย z] XwXย kmxk ย mย tร :X SAx xXย Xย RX SXย ย Amx ARzย ย ย lX ]ย ย ย ย Xร ย ย mย mย kzzV Rย ย mxXย ย ย Xxย X ย z RX ย ย Xย Aย XV ]zย ย lX ย zย ย mRmumย mXย ร ย z Xย ย XSย ย lX ย xXย ย XSย XVร

Figure 3: Global sustainability megaforces-Addressing the risk while realizing the opportunities Global Sustainability Megaforces Climate Change

Material Resource Scarcity

Wealth

Ecosystem Decline

Food Security

Energy & Fuel

Population Growth

Urbanization

Water Scarcity

Deforestation

Impacts on business Price increases and volatility

New regulations

Physical and weather change

Changes in consumer preferences

Emerging risks Regulatory Reputational Physical Market Litigation

Resource constraints on production

Emerging opportunities The global sustainability megaforces result in both risks and opportunities. Businesses can design effective strategies to address the risk while simultaneously taking advantage of the opportunities.

Reputational and brand Innovation and learning New products, services and markets Cost reduction Access to capital

Social Interventions by business Energy and resource efficient operations Sustainable supply chain management Strategic sector partnerships

Invest into innovation: sustainable product/services Reporting and disclosure Sourceà -" x X xA mzxAu ã éÁ XS lX 4xX XS XVà muVmxk R mxX Au X mx A SlAxkmxk z uV

KPMG International’s report Expect the Unexpected: Building business value in a changing world can be downloaded from kpmg.com/sustainability

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 27

ย ร -AxXu Vmย Sย ย ย mzxร cxAxSmAu wAย Xย mAumย ย z] ย ย ย ย AmxARmumย ย ย mย ย mVXuย AStxzย uXVkXV ย lAย ย lXย X mย A kAย RXย ย XXx Szwย AxmXย AxV mxย Xย ย zย ย ย lXx mย SzwXย ย z ย XSzkxmย mxk ย lX ย ย ย Aย XkmS mwย zย ย AxSX z] ย ย ย ย AmxARmumย ย AxV ย xVXย ย ย AxVmxk mย ย mwย ASย zx A Szwย Axย ร ย cxAxSmAu ย Xย ]zย wAxSXร

ย zw uX]ย ย z ย mklย ร lย mย ย zย lXย ย XXxย AuVร Aย mV ย Rmxร 0zRXย ย "Xย ย tXร 1Szย ย 3Xย ร "AVย zVXxlz`ร -Azuz #Aย ย Aย z

With this in mind, RobecoSAM assembled a group of representatives from four leading companies, as well as a consultant from the Sustainability Innovators Working Group, and Christopher Greenwald, RobecoSAMโ s Head of Sustainability Application & Operations led a lively discussion on the challenges companies face in bridging this gap.

28 รข 0zRXSz1 " รข 3lX 1ย ย ย AmxARmumย ย <XAย Rzzt ย ย ย ย

Paolo Nazzaro mย XAV z] 1ย ย ย AmxARmumย ย Aย 3XuXSzw ย AumAร ย Auย ร ย uAย kXย ย ย XuXSzwwย xmSAย mzxย Szwย Axย ร ย lmSl Auย z lAย A ย mkxm]mSAxย ย ย Xย XxSX mx Aย mx wXย mSAร Mads Bodenhoff mย 9mSX -ย Xย mVXxย AxV XAV z] zย ย zย Aย X mxAxSX Aย #zย zย ย wXย ร A Axmย l Rmzย XSl Szwย Axย ย lAย mย A uXAVmxk ย ย zย mVXย z] Xxย ย wX ย ย zVย Sย ย ]zย mxVย ย ย ย mAu Aย ย umSAย mzxย ร Scott Tew mย ย XSย ย mย X mย XSย zย Aย ย lX Xxย Xย ]zย xXย kย ]]mSmXxSย AxV 1ย ย ย AmxARmumย ย Aย xkXย ย zuu 0AxVร A uAย kX Vmย Xย ย m]mXV mxVย ย ย ย mAu Szwย Axย ย ย zย mVmxk A ย Aย mXย ย z] Szwย zxXxย ย ]zย ย lX Rย muย Xxย mย zxwXxย mxSuย Vmxk lXAย mxkร Szzumxk AxV ย XSย ย mย ย ย ย ย ย Xwย ร Aย ย Xuu Aย ย X]ย mkXย Aย XV ย ย Axย ย zย ย ย ย ย ย Xwย AxV XuXSย ย mS ย XSย XAย mzxAu ย XlmSuXย ร Robert Metzke mย 1Xxmzย mย XSย zย Aย 0zย Au -lmumย ย uXSย ย zxmSย ร A uXAVmxk ย ย zย mVXย z] ย ย z]Xย ย mzxAu AxV ย Xย ย zxAu umklย mxk ย zuย ย mzxย ร Szxย ย wXย XuXSย ย zxmSย AxV wXVmSAu VXย mSXย ร X mย ย Xย ย zxย mRuX ]zย VXย Xuzย mxk AxV mwย uXwXxย mxk ย lX -lmumย ย Sz9mย mzx mxxzย Aย mzx ย ย zkย Aw Aย zย xV ย lX ย zย uVร David Lubinร "AxAkmxk mย XSย zย ร 1ย ย ย AmxARmumย ย 1lAย XlzuVXย 1Xย ย mSXย AxV ]zย wXย lAmย wAx z] 9mย mVmย ร 1ย ย ย AmxARmumย ย xxzย Aย zย ย :zย tmxk ย zย ย ร A 41รฐRAย XV kย zย ย z] ย ย wAszย kuzRAu Szwย AxmXย mxSuย Vmxk ร "ร "mSย zย z]ย ร :Auรฐ"Aย ย ร 4xmuXย Xย ร XV ย ร zlxย zx ร zlxย zxร xkXย ย zuu 0AxV AxV zXmxkร 3lX kย zย ย ]zSย ย Xย zx mwย ย zย mxk Szwย AxmXย ร ARmumย ย ย z Xย XSย ย X ย ย ย ย AmxARmumย ย ย ย ย Aย XkmXย ร

Christopher Greenwald: Can you provide some examples of the financial implications of sustainability on your businesses? Paolo Nazzaro: A uA X mx lX mx]z wA mzx AxV Szww xmSA mzx XSlxzuzkmX ã 3é XS z  AmxARmum m S m mSAu z z Szw Ax Á Ó A z] z Sz X R mxX RXSA X wz z] lX X mSX X z mVX lA X A Vz RuX mw AS mx X w z] z X Xx X AxV -× Â R Au z mx X w z] XV Smxk %2 Xwm mzx AxV mw z mxk lX Aum z] um]X ]z z S zwX AxV z lX Sm m Xx Á Mads Bodenhoff: :X A X A R mxX z R mxX Szw Ax lA zV SX Xx wX  lmSl ASSz x ]z ¢ © z] z AuX Á x wX A X xA Auu zSS mxk RmzuzkmSAu wzuXS uX  AxV A X X mx X X mxk ] zw A AmxARmum X XS m X RXSA X lX lXu z XkXxX A X AxV R XAt Vz x xA X AxV XXV RmzuzkmSAu zSX X Á mxk Xx wX mx lX zV S mzx zSX ]z A AxkX z] A umSA mzx mxSu Vmxk ]zzV RX X AkX AxV VX X kXx  z X lAxzu ] zw RmzwA  z S zwX SAx A zmV mxk wz X lA w] u SlXwmSAu AxV XV SX lXm Sz Á u z R AVVmxk Xx wX z VX X kXx  X XxARuX Szx wX z A l Suz lX X]]XS m Xu A uz X Xw X A X Á 4u mwA Xu  X lXu z S zwX z zV SX wz X m l ]X X X z SX Á

Scott Tew: 3lX lXA z] z Szw Ax Ó z]]X mxk m ARz X]]mSmXxS Á Ó lz X kz z wA tX Á 0z klu zð lm V z] z X Xx X SzwX ] zw lX R mu Xx m zxwXx ñ Vzz ]z R muVmxk  XS m Xw  lXA mxk AxV Am ðSzxVm mzxmxk Xw  A Xuu A lX Szx S mzx X m wXx XV z wAx ]AS X lz X R muVmxk Á 1z lXx X Aut z z S zwX ARz lXu mxk lXw A X wzxX  X A X Autmxk ARz uz X mxk lXm XxX k Sz  lmSl m A Vm XS X u z] z ]zS zx XxX k AxV XxX k X]]mSmXxSmX mx lX R mu Xx m zxwXx Á 1z AmxARmum  X]]mSmXxS ñ lX X A X wAx Vm]]X Xx wzxmtX ñ R m Ó lX lXA AxV Sz X z] lA X VzÁ Robert Metzke: :X A X mxk z mw z X lX XxX k X]]mSmXxS z] lX Xx m X -lmum zV S z ]zumz R © AxV A X uzztmxk z Vz RuX lX Awz x z] XS Sumxk X Vz A Xuu A Vz RuX lX Awz x z] XS SuXV wA X mAu mx z zV S Á :X lA X Au z X A A kX ]z z X Xx X ] zw XSzðVX mkx zV S à X A X S Xx u A ©Â AxV Ax z lm © R Á

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 29

David, how do the companies you work with report on sustainability initiatives? David Lubin: 3lX Szw AxmX lA szmxXV lX 1 AmxARmum xxz A z :z tmxk z VmV z RXSA X lX Ax XV z AtX lXm Au XAV zxk AmxARmum mxm mA m X z lX xX uX XuÁ "z lAV RXXx SSX ] u m l AmxARmum A A A Xk z wAxAkX Vz x mVX m t z kXxX A X X z SX X]]mSmXxSmX Á #z  lX wAsz m z] ]m w A mx X X XV mx V m mxk R mxX mVX R R Ax mAuu XVX mkxmxk lXm zSX X AxV zV S z]]X mxk  AxV X Xx mx zwX SA X  lXm R mxX wzVXu z kAmx XAu Szw X m m X Vm]]X Xx mA mzx mx lX wA tX uASX AxV k z X Xx X m l AmxARuX X mSX AxV zV S Á :lmuX wAx z] lX ]m w X X SA mxk Au X ] zw AmxARmum  ]X X z XV lz X RXxX]m mx Ax XwA mS A z lA XlzuVX Á %] lX X Szw AxmX  zxu Xk uA u X z m X Xx X ] zw AmxARuX zV S z mx X z  AxV zxu z lXwmSAu Szww xmSA X m z Au zV S m m kAmx ] zw l wAx X z SX AxV xA Au X z SX X]]mSmXxSmX Á Xx lz kl Auu lX X Szw AxmX lA X k XA zk Aw AxV SSX X  wz u lX VzxÓ ]]mSmXx u Szww xmSA X lX R mxX mVX lX kXxX A XÁ 4x mu lm k z  AxV z lX umtX lXw lz A X XAum mxk XAu RXxX]m  RXkmx z Szww xmSA X lX Au X z] AmxARmum mx X w z] mxS XwXx Au X Xx X k z l zV S m m XxlAxSXwXx  AxV m t wm mkA mzx lX XÓ um uX SlAxSX z] kXxX A mxk wAmx XAw mx X z mx X X mx lX SzxSX Á Ó A SlAuuXxkX R m Ó ASlmX ARuX X XSmAuu m] mx X z l ]z m Á

Ð4x mu Szw AxmX RXkmx z Szww xmSA X lX Au X z] AmxARmum mx X w z] mxS XwXx Au X Xx X k z l zV S m m XxlAxSXwXx  AxV m t wm mkA mzx lX XÓ um uX SlAxSX z] kXxX A mxk wAmx XAw mx X z mx X X mx lX SzxSX ÁÑ Can you provide examples of how you quantify the financial impact of sustainability and then communicate it to investors? Paolo Nazzaro: :X A X Au Ó XSzxVðuA kX XuXS mSm Szx wX  z m lA A Rmk mw AS zx z z X A mxk Sz AxV zx SumwA X SlAxkX l z kl lX mxVm XS %2 Xwm mzx lA X kXxX A X R mxk XuXS mSm Á :X Amw A XV Smxk Rz l Sz AxV %2 Xwm mzx R AVz mxk xX XSlxzuzkmSAu zu mzx  AxV X lA X ASlmX XV kzzV X u Rz l mx X w z] Sz A mxk ñ ARz

30 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

40 wmuumzx X XA ñ AxV %2 Xwm mzx ñmx X XV SXV z XuXS mSm Szx w mzx R Á ©Á x lX 3 XS z X SAx kXxX A X A z m m X mw AS R lXu mxk z lX XS z z mkxm]mSAx u XV SX lXm z x Xwm mzx  Sl A l z kl XuXSzx]X XxSmxk wA wX X mxk AxV XuXwXVmSmxXÁ :X RXumX X lX wz mx X X mxk z z xm m mx X w z] X Xx X kXxX A mzxÁ 1z AtX XuXwXVmSmxX ]z mx AxSXÁ 3XuXSzw AumAÓ z]]X mxk mxSu VX A Xwz X Xw lA XxARuX lX wXA XwXx z] zwX RA mS wXVmSAu A AwX X Sl A RuzzV X X RuzzV kA uX Xu z lXA A X A lzwX m lz lA mxk z kz z A VzS z Á 3lm z]]X A mz RXxX]m mx X w Sz A mxk ]z lX z X Auu lXAu lSA X Xw A Xuu A XV Smxk A Xu AxV %2 Xwm mzx Á xV ]z A mXx m l Sl zxmS Vm XA X  lX X m Au z lX AVVXV RXxX]m z] mw z mxk lXm Aum z] um]XÁ :X lA X X Xx X X mwA X ]z lX X X z] X mSX lA muu Vz xz X X Xx A XuX Ax X SXx AkX z] z VzwX mS xz X ãRXuz Á © R lX XxV z] é R lm X SXx AkX m mw z mxk AxV X X mwA X lm wA tX z RX z l ARz 40 ¢ wmuumzx mx Au  z] lmSl 3 zV S AxV X mSX wA X X Xx A XuX Ax umSXÁ Mads Bodenhoff: % S zwX z] Xx A t ARz lX Xx m zxwXx Au mw AS z] z Xx wX zV S RX zxV Sz XV S mzx z z xm mX Á :X SAuS uA XV lA R mxk z Xx wX  z S zwX AxV lXm XxV X X Xx XV wmuumzx zx z] %2 Xwm mzx mx Á 3lA ]mk X muu k z Á "XAx lmuX R X Amw z XV SX z Szw Ax Ó XxX k Szx w mzx R © XuA m X z uX Xu Á 3lm muu mkxm]mSAx u mw z X z z]m ARmum  lmSl m mxSz z A XV mx z lX ]mxAxSmAu x wRX X X z Á Robert Metzke: z X SXx z] z kuzRAu xz X SzwX ] zw XSzðVX mkx zV S  AxV lm ]mk X m X z mxS XA XÁ x X w z] wA tX z z xm mX A l kX A z] z S Xx AxV ] X X Xx X VX XxV zx wAsz kuzRAu XxV Sl A RAxm A mzx SumwA X SlAxkX AxV Akmxk z uA mzx Á So why aren’t more investors taking notice? What is preventing the movement from going mainstream in the investment community? David Lubin: #z Auu Szw AxmX A X Szww xmSA mxk lX ]mxAxSmAu VA A z mx X z  X Xx lz kl wAx A X kXxX A mxk kzzV X u Á :X XX lA X SAuu A AmxARmum Szx xV wà zx lX zxX lAxV X XS m X A X x muumxk z mx X mwX AxV X z SX mx z SA mxk AxV XwA mSAuu X z mxk lX RXxX]m z] lXm AmxARmum A XkmX RXSA X lX 10 Szww xm m lA m l S Xx 1 VA A AxV wAmx XAw mx X z

VzxÓ XXw z SA XÁ "XAx lmuX wAmx XAw mx X z A X Am mxk ]z XAu X mVXxSX lA AmxARmum A]]XS k z l zV S m m AxV m t AxV x mu lm VA A m A AmuARuX lX Ó X kzmxk z AxV zx lX mVXumxX Á m Xx lA A wAuu X SXx AkX z] Szw AxmX m RXkmxxmxk z X Xx lXm AmxARmum z AxV VA A lz mxk z AxV Rz zwðumxX R mxX RXxX]m  X lz uV RXkmx z XX A k z mxk wz XwXx z A V lX umxtmxk z] AmxARmum z R mxX Au X AxV m l lA wz X wAmx XAw mx X z mx X X Á

R muV A ]mxAxSmAu wzVXu A wzVXu RA mSAuu  lX X X lz XV lz z Vm]]X Xx AmxARmum mxm mA m X Ax uA X mx z lmklX lA XlzuVX X xÁ

What’s your experience with the investment community in terms of their interest in, and adoption of, sustainability? Paolo Nazzaro: :X XX A SuXA Vm mxS mzx RX XXx lX 10 mx X wXx Szww xm AxV wAmx XAw mx X z Á :m l lX 10 Szww xm  m Ó XA A lX A X Au XAV mx X X XV mx 1 m X Ä lX A t X mzx  z lX VmAuzk X m m X wzz lÁ :m l lX wAmx XAw mx X wXx Szww xm  X lA Vu kX Ax X mzx ARz 1 Á mx X z A X xz A tmxk X mzx RXSA X Szw AxmX mx wz SA X A X xz VXum X mxk SuXA wX AkX ARz lXm 1 X ]z wAxSXÁ xV Szw AxmX A X xz Szww xmSA mxk lXm 1 X ]z wAxSX RXSA X lX Vz xz kX Ax X mzx Á 1z lX XÓ A Szww xmSA mzx kA lA X lA X z R mVkXÁ

Scott Tew: :X A zmV lX X w AmxARmum Á :X z ]zS zx lX Rmk wAmx XAw m X z] lX VA  umtX X z SX XxX k AxV A X SA Sm Á <X X lA X z ]mxV A z lz lz lX X m X A X XuX Ax z z R mxX Á z X Aw uX mx A uA kX R muVmxk © z] Sz A X XuA XV z XxX k Á ] z SAx AtX © z]] lX Sz z] xxmxk A R muVmxk z kX lX R muVmxk z xX Ó

x X z ]zS zx A Xk  z m Ó z Szw AxmX z Szx mxSX mx X z lA AmxARmum m Ax mx Xk Au A z] lXm z X Auu R mxX A Xk Á Robert Metzke: 3 z XA Akz X uA xSlXV z xX Sz9m mzx zk Aw AxV Axxz xSXV lA X z uV mx X 40 Rmuumzx z lXu lm z k XXx AuX A kX AxV ] lX mw z X lX ]zz mx z] z zV S Á zzt s z VA ]z zuVwAx 1ASl z SAuu AxV A Â Ò Xuu lA Ó xmSX R lA lA Xx z lX z]m ARmum z] z zV S ÈÓ 3lm A A A mwX lXx X lAV XXx -lmum Ó xz X VXSumxX mkxm]mSAx u mx lX X mz m wzx l A A X u z] lX ]mxAxSmAu S m m Á z X lX AwX X mzV AuX z] z k XXx zV S  lmSl wAVX © z] z z ]zumz A lX mwX tX mxS XA mxkÁ 3lX z]m ARmum z] z k XXx zV S m zx A X AkX lmklX lAx lA z] z xzxðk XXx zV S  xz RXSA X X SlA kX A Xwm w R RXSA X lX A X RX X zu mzx Á lX wz X lX k z l A X z] k XXx zV S mx lX wA tX A X lmklX AxV lX XÓ mxS XA mxk VXwAxV ]z lXwÁ 3lm mkkX XV A Vm S mzx m l zuVwAx 1ASl mx lmSl A z] z X zx X A lA z lz uV xz RX SzxSX xXV ARz z]m ARmum A lX zV S uX Xu R ARz z Au lA XlzuVX X xÁ xV lXx X A XV z

Mads Bodenhoff: x X z A X wz u mx X X XV mx lX V m X wAtmxk A Szw Ax k z  z m Ó X w Sl umxtXV z ] X k z l z z xm mX Á x X z A  ÒlXu wX xVX AxV z k z lÂÓ Òlz Vz z S XA X wzxX ÈÓ AxV Òlz muu z X m mx lX uzxk X wÈÓ AxV z zxÁ

Ð Ó xz z w Sl ARz X uAmxmxk z AmxARmum A Xk  R lX AmxARmum z] z A Xk ÁÑ A Xx mzxÁ X Au z ] AwX m mx X w z] z uXkAS A A Szw Ax  lmSl lA RXXx ARz zu mxk zRuXw ]z z S zwX AxV lXu mxk lXw RXSzwX wz X X]]mSmXx Á :X z lXu mx X z XX lA lm m xz A Xw z A ]AV R m mx ]AS mx]u XxSmxk lz X lmxt ARz AxV VX mkx zV S ]z zwz z Á So is packaging part of the problem? If it’s presented as SRI or ESG, people dismiss it, but if it’s presented as strategic and part of good business, then it makes sense to take these factors into account. David Lubin: :Xuu lX XÓ k XA Au X mx 1 VA A ]z Auu z z] AxAu X Á m] Ów A wAmx XAw mx X z uzzt A Auu w lzuVmxk l z kl lX uXx z] k z l zV S m m AxV m tÁ :lA X X lX A Xk ñ kuzRAum A mzx wmxmA m A mzx m VzX xÓ wA X ñ SAx uzzt A m l z kl lA uXx Á ] A AmxARmum A Xk SAxÓ RX XXx l z kl lA uXx  mx X z VzxÓ txz lA z A t AxV z SAxÓ XAuu kX lXm mx X X mx lA A Xk Á Robert Metzke: "A RX m Ó s XwAx mS  R m Ó xz z w Sl ARz X uAmxmxk z AmxARmum A Xk  R lX AmxARmum z] z A Xk Á x mw z Ax X m Xx mxk lA z z x wAxAkXwXx ]XXu Szw]z ARuX m l lX Aum z] lX VA A AxV lX z A z xV AmxARmum mx lX AwX A lX ]XXu Szw]z ARuX m l X z mxk AxV Autmxk ARz ]mxAxSmAu VA AÁ

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 31

What do you think about integrated reporting? Can it address the problem of communicating to investors? Mads Bodenhoff: :X lA X lAV mx Xk A XV X z mxk ]z z X XA Á Ó A xA Au X Xx mzx z] z AmxARmum A Xk AxV m Ó mw z Ax lA X A X z Xx m l z S zwX AxV AtXlzuVX ARz z ]mk X AxV lz X mx Xk A X Xx m zxwXx Au AxV zSmAu A XS mx z z A Xk Á lA m mx Xk A XV X z mxkÈ :X uASt A X z mxk AxVA VÁ <z Au z lA X z RX X SA X] u ARz Szw A mxk AmxARmum x wRX ] zw Szw Ax z Szw Ax  A mS uA u lz X mx Vm]]X Xx mxV mX Á

Ð ] mx Xk A XV X z mxk XxARuX z z XX lz A Szw Ax Ó AmxARmum A Xk m kXxX A mxk ARz XðA X AkX wA kmx AxV k z l A X  lXx m lA A k XA VXAu z] zwm XÁÑ 3lX A X X XwXu Vm]]X Xx AxV zxX x wRX wXAx zxX lmxk ]z zxX AxV zwX lmxk Szw uX Xu Vm]]X Xx ]z Axz lX Szw Ax Á 1z m Ó mw z Ax lA lX z RXlmxV lX ]mk X m Au z zuVÁ Scott Tew: Ak XX ñ mx Xk A XV X z mxk m xz A Szw uX X Ax X RXSA X xz Szwwzx uAxk AkX X m Á 3lX X]]XS m XxX z] mx Xk A XV X z mxk VX XxV X w Sl zx lX A VmXxSXÁ x z z XA z] mx Xk A XV X z mxk m lA RXXx A mkxm]mSAx SlAxkX ]z z mx X z A VmXxSX RXSA X lX Ó X z XV z XXmxk ]mxAxSmAu X z mx A SX Amx A Á zwX z] z A VmXxSX lA X XwR ASXV m AxV ]XXu lA X lA X VzxX A kzzV szR z] SzxxXS mxk lX Vz RX XXx ]mxAxSmAu X ]z wAxSX zumS Xk uA mzx  z zV S z]]X mxk AxV z mxxz A mzx X]]z Á Paolo Nazzaro: 3lX uASt z] Szwwzx AxVA V m A XAu zRuXw RXSA X ]mxAxSmAu X z mxk m lmklu Xk uA XV mx Au A m m mx lX X z] z XÁ 1z z SAxxz RX lX ]m wz X m lz zwX SuXA Vm XS mzx ] zw lX Xk uA z Á 1z mx Au  w k X m lA X muu XX X ]X Szw AxmX wz mxk Auzxk z A V mx Xk A XV X z mxk m lz A SuXA z m mzx ] zw Xk uA z AxV AVX RzVmX Á xz lX SlAuuXxkX m lA X Au z xXXV z RX SA X] u ARz mx]z wA mzx z X uzAVÁ 1z X lA X z wAtX X X VzxÓ uz X z ]zS zx wA X mAum lXx V A mxk Ax mx Xk A XV X z  RXSA X z lX m X X x lX m t z] mw u SzwRmxmxk ]mxAxSmAu mx]z wA mzx m l xzxð]mxAxSmAu mx]z wA mzx m lz A SuXA ]zS zx lX Szw Ax Ó A Xk AxV lX Szw Ax Ó A kX Á

32 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

3lX ]m kXxX A mzx z] AmxARmum X z lAV lX zRuXw z] lX zðSAuuXV SA X RzwRmxkÁ X RzV A mxSu Vmxk mx]z wA mzx mx lX X z s mx SA X zzxX z uA X zwXzxX z uV RX mx X X XV mx lA XSm]mS Rm z] mx]z wA mzxÁ x Xk A XV X z mxk lz uV RX A kX XV SzlX Xx AxV Szx m Xx m l lX Szw Ax Ó R mxX A Xk z lA m SAx RX A X] u zzuÁ Robert Metzke: :X lA X RXXx Vzmxk m ]z wAx XA AxV m Ó A xA Au X]uXS mzx z] mx Xk A mxk AmxARmum mx z z R mxX Á lX mx Xk A XV X z xXXV z RX XuX Ax z lX Szw Ax Ó z X Auu R mxX A Xk  AxV X lA X z Xx X lX Aum AxV XumARmum z] lX AmxARmum VA AÁ :X A X xz wz mxk z A V ] uu A AxSX ]z z AmxARmum VA A s umtX ]z ]mxAxSmAu VA AÁ David Lubin: VX XxV zx lA z Ó X mx Xk A mxkÁ ] z Ó X s Atmxk z AxVA V 10 X z AxV ku mxk m z z ]mxAxSmAu X z  lXx mx Xk A XV X z mxk lA A A z kzÁ m] m XxARuX z z XX lz A Szw Ax Ó AmxARmum A Xk m kXxX A mxk ARz XðA X AkX wA kmx AxV k z l A X ] zw AmxARuX zV S  lmSl z uV lA X RXXx mx m mRuX RX]z X lXx mx Xk A XV X z mxk lA A k XA VXAu z] zwm XÁ What kinds of opportunities do you see for collaboration between companies? Some companies may not wish to share a sustainability USP with their peers. Could there be sustainability initiatives among companies within the same sector or across value chains? Paolo Nazzaro: AmxARmum wAxAkX  X A X u St RXSA X lX Szw X m m X m X XuA XV z AmxARmum A XxÓ A Xx m m X A mx zwX z lX ]mXuV  z X lA X xz zRuXw mx lA mxk mx]z wA mzx X Xx m l Szw AxmX mx z XS z Á 3lX X m A zxk A zSmA mzx z] XuXSzw z X A z mx z X AxV lX X m A XAu l z] mxm mA m X Sz X mxk A AxkX z] AmxARmum m X Á % zRuXw m xz mx ]mxVmxk mxm mA m X mx lmSl X SAx XAw z VX Xuz Szwwzx zu mzx  R A lX mx XuXS mxk ] zw Awzxk lX wAx X m mxk mxm mA m X lz X lA SAx XAuu AVV Au X ]z z Szw Ax AxV ]z lX XS z Á David Lubin: ÓV A X RuAxtX zx lm Á :X Ax XV lX 1 AmxARmum xxz A z :z tmxk z z RX wAVX z] xzxðz X uA mxk Szw AxmX Á :X VmVxÓ lA X Rz l 4xmuX X AxV - zS X × AwRuX z XVX Au X AxV 4-1 A lA z uVxÓ RX z mRuXÁ :X Sz uV zxu Vz lA m] Auu X Ax XV z Vm S A Vz x mVX m t wAxAkXwXx Á lX wz X X RXkAx z mX AmxARmum A A z SX z] Szw X m m X AV Ax AkXÂ

lX wz X Szw AxmX AmV Òxz lAxt z  m] lX Ó X lX X lXx Ów xz ÁÓ %xX z] lX XA zx m Ó lA V z kX lX VA A mx X z XAuu xXXV m lA ]m w m l XAu Szw X m m X AV Ax AkX Vz xz Ax z RumSm X lz w Sl Rz zwðumxX mw AS m RXmxk kXxX A XV R lXm AmxARmum A Xk Á 4xuX lX kX A uz z] l ] zw lX mx X z lz Ax z txz  Szw AxmX A X xz kzmxk z Vm Suz X lA mx]z wA mzxÁ How do your sustainability policies address the concerns of investors who are more interested in social responsibility? Mads Bodenhoff: 3lX X A X z A zASlX z AVV X mxk zSmAu X zx mRmum à lX X A X z z xm mX A m mxk ] zw zSmAu ]AS z ñ z uA mzx k z l ]zzV SA Sm AxV z zx ñ AxV lX X A X Szw Ax RXlA mz AxV umSXx X z z X A X m X lA wXAx Szw AxmX w Xx X lX AS X zx mRu Á z l A X X XwXu mw z Ax ]z lX uzxkð X w m Au z] A Szw Ax Á ] zxX ]m w m ARuX z kAmx wA tX lA X R X zxVmxk z z uA mzx k z l AxV z lX VzxÓ Â lA Szw Ax muu X ]z w RX X Á mtX m X m] zxX Szw Ax VzX xz AVV X zSmAu m t  m m umtXu z xVX X ]z w ]m w lA VzÁ Robert Metzke: Ó mw z Ax z XwXwRX lA lX umSXx X z z X A X m k Ax XV R zSmX AxV lX uX z] lX kAwX A X SlAxkmxk AxV lm muu l lX uAkkA V A zwX zmx Á ] z A X Ax mxxz A z mx lA ]mXuV lXx z A X wz X umtXu z A mx R mxX z X lX uzxk xÁ David Lubin: 3lm XwmxV wX z] Ax mx X mX X VmV m l A Xxmz X XS m X A z lXwmSAuÁ :lXx lX uzztXV RASt z X XA z] z Ó X]]z mx AmxARmum  lX AmV lX X X X l XX wAmx AkX à ÒVz uX RAVÂÓ ÒVz wz X kzzVÂÓ AxV lXx ÒSlAxkX lX z uVÁÓ :lXx lX X X A lX ÒVz uX RAVÓ AxV X Xx ÒVz wz X kzzVÓ AkX  m A lA V z XS m lX z AuXx ] zw lX RX xm X m mX  lmSl A xXSX A z V m X lXm zV S AxV X mSX mxxz A mzx òmx k XXx SlXwm  ]z mx AxSXÁ A z RXkAx z zuu z A AmxARmum A Xk ]zS XV zx S XA mxk Rmk R XAtð l z kl zu mzx z kuzRAu SlAuuXxkX  m ARmum z XS m AxV X Amx lX z AuXx wA tXVu mw z XVÁ Are there aspects of your sustainability strategies that cannot be quantified? And if they can’t be quantified in terms of financial benefits, should they still be managed? Scott Tew: 3lX X A X X X Au mx AxkmRuX ñ X A mzx m X  R AxV XxlAxSXwXx ñ lA A X Vm]]mS u z wXA X R lX X X Au XAV Vm]]mS u RX]z X AmxARmum SAwX AuzxkÁ x z S zwX Ó R muVmxk

AxV mx z z x z X A mzx  m m ]Am u XA z wXA X AxV Ax m] lX RXxX]m z] XxX k A mxk AxV %2 Xwm mzx XV S mzx Á x lX uzxk X w lz X X  X Au z Ax z xVX AxV lX z m m X mw AS zx Xw uz XX lXAu l AxV zV S m m lA m XxARuXV R lmklX X ]z wmxk R muVmxk Á % mxV m s RXkmxxmxk z xVX AxV lm xX z m m X Sz XuA mzxÁ x AVVm mzx lX X A X A XA mx lmSl X lA X mw z XV lX X X lAV Vm]]mS u mX RX]z XÁ %xX m Xw uz XX X Xx mzxÁ :X lA X zwX  Xw uz XX kuzRAuu lz A X mx zu XV mx k XXx zu x XX mxm mA m X Á :X XSXx u Szw A XV m X lA lA X Xw uz XX zu x XX m l m X lA Vz xz  AxV ]z xV Xw uz XX XxkAkXwXx m © lmklX A m X m l zu x XX mxkÁ 1z ]z lX XÓ A Vm XS Sz XuA mzx lA Xw uz XX A X wz X wz m A XV wz X XxkAkXV AxV lX X]z X muu RX X AmxXV uzxkX Á Mads Bodenhoff: 1zwX ]AS z  Sl A Xw uz XX AR XxSX Xw uz XX xz X AxV z zx A X XuA m Xu XA z Szx X mx z A ]mxAxSmAu mw AS Á zw AxmX kXxX Auu RXxX]m m] lX SAx XV SX Xw uz XX xz X  R z] Sz X A wAuu uX Xu z] xz X m Au z xXSX A z kX xX mVXA AxV kXxX A X mxxz A mzxÁ 1z A RAuAxSX xXXV z RX ]z xVÁ ]m w Vm]]X wA tXVu à zwX ]AS z lA X mwmuA mw AS AS z Szw AxmX  R wAx z lX Vz xz wXAx lX AwX lmxk z Auu ]m w  X XSmAuu ]z lz X mx Vm]]X Xx mxV mX Á 1z m Ó X XwXu mw z Ax lA wAxAkXwXx Szx X lA AmxARmum wXAx z lX Szw Ax mx lX zSmAu z Xx m zxwXx Au A XA AxV l m Ó mw z Ax ]z lX Szw Ax Á

Ð1 AmxARmum m A A z mw z X R mxX zu mzx ]z S zwX ÁÑ Some conservative investors may be hesitant to adopt sustainability investment strategies due to concerns about investment risk. How do you respond to their concerns? Scott Tew: S Auu  mx X z xXXV z uXA x lA ]zS mxk zx AmxARmum VzX xÓ mxS XA X m t m XV SX m t AxV X lA X z A mS uA X lA wX AkX mx A A lX xVX AxVÁ u lz kl m t wAxAkXwXx m mw z Ax  Szw AxmX lA Ax z S XA X A Szw X m m X AV Ax AkX m l A AmxARmum A Xk  lX Ó X kz z wz X Auzxk lX mxxz A mzx S X mx X w z] zV S  X mSX AxV zu mzx Á 0m t wAxAkXwXx AuzxX m xz Xxz kl R m Ó S m mSAu Rz l ] zw Ax mx X z Ó zmx z] mX AxV lX Sz z A X zmx z] mX Á

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 33

David Lubin: 3lX XÓ w Sl k XA X ]zS R mx X z zx Vz x mVX m t lAx zx mVX z Xx mAuÁ 1z w Sl VA A lA Ó SzuuXS XV m ARz lX Vz x mVXÁ 3AtX - wAÂ lX zxu Szw Ax z XuXA X Ax Xx m zxwXx Au RAuAxSX lXX Á 3lX - wA zsXS m wz X ARz X z mxk zx Vz x mVX m t lAx m m ARz mVXÁ xV VzxÓ wXAx lA Ó RAV ñ m lXu wAxAkX wAtX kzzV VXSm mzx Á

m VzX xÓ zu X lX zRuXw z] kX mxk wAmx XAw mx X z zx RzA V m l AmxARmum A A V m X z] X ]z wAxSXÁ xV SAx Xuu z  ] zw lX Szw AxmX XÓ X RXXx z tmxk m l X XX Rmk Szx mR mzx z X Xx X k z l AxV 3 ] zw lXm AmxARmum X]]z Á lX Szw AxmX lXw Xu X A X lA mxk A lA V mwX Xuumxk lA z RXSA X lX Ó X VXAumxk m l Ax A VmXxSX lA z] Xx Vm wm X m A wA tX mxk AxV lX Vz xz Vz Ax AVX A X szR z] XwA mSAuu X z mxk lX VA A zx R mxX mVXÁ z wAx Szw AxmX AmxARmum m ARz m t wAxAkXwXx z X A mzx wAxAkXwXx Á 1 Sl Szw AxmX A X umtXu z kXxX A X w Sl uX uzxkð X w Au X l z kl AmxARmum Szw A XV z Szw AxmX lA mX m l z kl lX uXx z] R mxX Ax ]z wA mzx S u X AxV Au X Á zzt A 4xmuX X  lmSl m Szx mVX XV A uXAVX mx S XA mxk Au X l z kl A AmxARmum A Xk  lX kz mx lX kAwX RXSA X lX X X RXmxk wwXuXV R # % Sl A XXx XASX z X Auw zmu z z XA AkzÁ 3lX lAV l kX X A mzxAu AxV u SlAmx m t m X lA lX xXXVXV z AVV X  z lXm AmxARmum mxm mA m X A XV z A A m t wAxAkXwXx A Xk Á

A lX kz mx z m  lX RXkAx z XAum X lA lX X A k XA mVX ]z lX Szw Ax lX XÁ 3lX Sz uV Xuu AmxARu zV SXV XA AxV lX X Xx ]z xV lA Szx wX X X muumxk z A A wAuu R wXAxmxk] u Xwm w ]z AmxARuX zV S Á 3lX RXkAx z XX lA m] lX A XV z SlAxkX lXm zV S mzx wzVXu AxV wX lzV  lX Sz uV kAmx wA tX lA XÁ 1z lX A lA xz zxu VmV lm A Xk z]]X lXw kzzV Vz x mVX wAxAkXwXx  R Au z mVXÁ A AmV zVA wz mx X z Ó SA ASm z XX lm mVX z Xx mAu ] zw AmxARmum m w Sl uz X lAx lXm ARmum z kX zwX wXA X z] lz w Sl Vz x mVX z XS mzx m z]]X Á 3lA Ó A zRuXw ]m w lz uV AVV X Á

34 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

Is adopting a sustainability strategy any different from the concept of improving overall business processes and quality? Scott Tew: RXumX X AmxARmum m A A z mw z X R mxX zu mzx ]z S zwX Á Ó Ax XxlAxSXwXx zx lA Szw AxmX lA X VzxX mx lX A Á :X s lA X z kX RX X ARz mX mxk m lA A  lmSl muu lXx XxARuX z wXA X lX z SzwX XuA XV z k z l zV S m m AxV m t wAxAkXwXx Á xV m lz uVxÓ zxu RX ARz XXtmxk Xwm w mSmxk ]z k XXx zV S Á Ó XAuu ARz A lzum mS mX z] lX zV S m Xu]Á :X uzztXV A lX ] uu um]X S SuX AxV AtXðRASt z mzx z] z zV S XSXx u  AxV A A X u X lA X SlAxkXV lX wA X mAu lA kz mx z lX zV S A lX VX mkx AkX AxV A X Szwmxk m l RX X zV S lA uA uzxkX  Sz uX z z X A X AxV SAx RX XS SuXV ]z z lX X Á <z SAx SAuu lA m t z k z l z z xm mX  z X mz zV S ñ R lA X X z SAuu m  m Ó Ax mw z XwXx zx lA X VmV ]m X XA AkzÁ Robert Metzke: ] z Vz m mkl  lXx z AmxARmum A Xk SAx RX X w Sl ARz X]]XS m XxX  mxxz A mzx AxV lX XuX AxSX z] A Szw Ax Á <z VzxÓ mxxz A X ]z lX AtX z] SlAxkmxk zwX lmxk ñ z mxxz A X z A Szw X m m XÁ Mads Bodenhoff: z wz Szw AxmX  lX wA tX z z xm mX umX mx AVV X mxk ] X SA Sm AxV lX ] X mxS XA XV z uA mzxÁ SX Amxu Ak XX lA AmxARmum m ARz wAtmxk X XASl A z] lX R mxX m AkmuX Szw X m m X AxV mxk lX uA X AxV lX wz X]]mSmXx zSX X mx Auu ] xS mzx mxSu Vmxk 0× Â zV S mzx AuX  ]mxAxSX AxV z zxÁ Robert Metzke: muVmxk zx lA  lmxt m kzX RASt z lm xz mzx lA mx lX m mX z z Szw AxmX Sz uV X X xAum X m t AxV Sz z zSmX  AxV lA m lX X A uA kX A z] AmxARmum X z mxk SAwX ] zw mx lX XA u VA Á #z X X xAum mxk m t m ]z xA Xu xz uzxkX ASSX ARuXÁ lX mx X X mxk lmxk lA m xz X Sz X XV mx lX VA A z mx lX X mzx lA mx X z A t m à ÒA X z A A Szw Ax ARuX z mx X xAum X z z wA mwm X lX z m m X X X xAum mX ÈÓ "z X AmxARuX zu mzx S XA X AVVm mzxAu Au X R lm Au X m z] Xx xz Ax uA XV mx z A X zxAu z SzwXÁ Ó mSAuu A zSmX Au z SzwX AxVêz Ax Xx m zxwXx Au z SzwXÁ 3lA wXAx lA lX X A X l kX z m m X X X xAum mX  R lX A X muu xz Szx mVX XV z RX A z] lX R mxX wzVXuÁ ] z ]mxV A R mxX wzVXu lA SAx kXxX A X A z] lX SA l ]uz ] zw lX X tmxV z] X X xAum mX  lXx z SAx mx X xAum X A z] lX X z m m X X X xAum mX Á 3lm Xx m X SzxSX m xz X X]uXS XV mx lX X z mxk z mx lX wX mS z mx lX X mzx Szwmxk ] zw mx X z Á

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3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 35

Since 1999, RobecoSAM has been assessing and documenting the sustainability performance of over 2,000 corporations on a yearly basis. In the process, RobecoSAM has compiled one of the largest global databases on corporate sustainability.

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67 RobecoSAM Gold Class 52 RobecoSAM Silver Class 107 RobecoSAM Bronze class

Runners up Company

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Country

Ý 0zRXSz1 " 1XS z XAVX ÝÝ 0zRXSz1 " 1XS z "z X

Reading Instructions 3lX mx]z wA mzx RXuz z mVX Ax X uAxA mzx zx lz z mx X X lX A mz XS mzx Szx AmxXV mx XASl z] lX 1XS z x mkl zx lX ]zuuz mxk AkX Á Driving forces mklumkl S Xx AxV ] X SlAuuXxkX lA mxk lX Szw X m m X uAxV SA X z] XASl XS z Á Highlighted criteria mklumkl XuXS XV XS z ð XSm]mS AxV kXxX Au S m X mA lA A X A umXV mx lX 0zRXSz1 " z z A X 1 AmxARmum X wXx Á

Sector statistics 3lm XS mzx Vm uA lX X XA Sl Sz X AkX mx ]z lX X XS m X XS z Results at sector level %]]X Ax z X mX z] lX 0zRXSz1 " z z A X 1 AmxARmum X wXx Sz X Á z XASl XS z lX A X AkX AxV lX RX Sz X z] lX A X XV Szw AxmX A X Vm uA XVÂ A Xuu A lX A X AkX Sz X AxV lX z Sz X ]z lX XSzxzwmSÂ Xx m zxwXx Au AxV zSmAu VmwXx mzx Á 3lX XuA m X Xmkl A mkxXV z XASl z] lX l XX VmwXx mzx m Au z lz xÁ

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 37

0zRXSz1 " 1XS z XAVX × "z X

38 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

RobecoSAM Sector Leaders 2013

Company

Sector

Country

Adidas AG

Clothing, Accessories & Footwear

Germany

Air France-KLM

Airlines

France

Akzo Nobel NV

Chemicals

Netherlands

Alcatel-Lucent SA

Communication Technology

France

Alcoa Inc

Aluminum

United States

Amadeus IT Holding SA

Support Services

Spain

AMEC PLC

Oil Equipment & Services

United Kingdom

Amorepacific Corp

Personal Products

South Korea

Anglo American PLC

Mining

United Kingdom

ArcelorMittal

Steel

France

AU Optronics Corp

Computer Hardware & Electronic Office Equipment

Taiwan

Australia & New Zealand Banking Group Ltd

Banks

Australia

Baxter International Inc

Medical Products

United States

Bayerische Motoren Werke AG

Automobiles

Germany

Benesse Holdings Inc

Specialized Consumer Services

Japan

Bombardier Inc

Aerospace & Defense

Canada

British American Tobacco PLC

Tobacco

United Kingdom

Delta Electronics Inc

Electronic Equipment

Taiwan

Electrolux AB

Durable Household Products

Sweden

Enbridge Inc

Pipelines

Canada

Fiat Industrial SpA

Industrial Engineering

Italy

Gamesa Corp Tecnologica SA

Renewable Energy Equipment

Spain

Gas Natural SDG SA

Gas Distribution

Spain

GPT Group

Real Estate

Australia

GS Engineering & Construction Corp

Heavy Construction

South Korea

Henkel AG & Co KGaA

Nondurable Household Products

Germany

Herman Miller Inc

Furnishing

United States

Iberdrola SA

Electricity

Spain

Itausa - Investimentos Itau SA

Financial Services

Brazil

J Sainsbury PLC

Food & Drug Retailers

United Kingdom

Koninklijke Philips Electronics NV

Leisure Goods

Netherlands

KT Corp

Fixed Line Communications

South Korea

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 39

Company

Sector

Country

Lite-On Technology Corp

Electric Components & Equipment

Taiwan

Lotte Shopping Co Ltd

General Retailers

South Korea

Molson Coors Brewing Co

Beverages

United States

Novozymes A/S

Biotechnology

Denmark

Pirelli & C. SpA

Auto Parts & Tires

Italy

PostNL NV

Industrial Transportation

Netherlands

Repsol SA

Oil & Gas Producers

Spain

Roche Holding AG

Pharmaceuticals

Switzerland

SAP AG

Software

Germany

Siam Cement PCL

Building Materials & Fixtures

Thailand

Siemens AG

Diversified Industrials

Germany

SK Telecom Co Ltd

Mobile Telecommunications

South Korea

Sodexo

Hotels, Restaurants, Bars & Recreational Services

France

Sonoco Products Co

Containers & Packaging

United States

Suez Environnement Co

Water

France

Sumitomo Forestry Co Ltd

Home Construction

Japan

Swiss Re AG

Insurance

Switzerland

Tabcorp Holdings Ltd

Gambling

Australia

Taiwan Semiconductor Manufacturing Co Ltd

Semiconductors

Taiwan

Telenet Group Holding NV

Media

Belgium

TUI AG

Travel & Tourism

Germany

Unilever NV

Food Producers

Netherlands

UnitedHealth Group Inc

Healthcare Providers

United States

UPM-Kymmene OYJ

Forestry & Paper

Finland

Waste Management Inc

Waste & Disposal Services

United States

Wipro Ltd

Computer Services & Internet

India

40 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

RobecoSAM Sector Movers 2013

Company

Sector

Country

Advanced Micro Devices Inc

Semiconductors

United States

Air France-KLM

Airlines

France

Ajinomoto Co Inc

Food Producers

Japan

Alcoa Inc

Aluminum

United States

Altria Group Inc

Tobacco

United States

Amadeus IT Holding SA

Support Services

Spain

American Water Works Co Inc

Water

United States

BAE Systems PLC

Aerospace & Defense

United Kingdom

Baker Hughes Inc

Oil Equipment & Services

United States

Balfour Beatty PLC

Heavy Construction

United Kingdom

Ball Corp

Containers & Packaging

United States

Braskem SA

Chemicals

Brazil

CaixaBank

Banks

Spain

Canadian National Railway Co

Industrial Transportation

Canada

Casino Guichard Perrachon SA

Food & Drug Retailers

France

China Steel Corp

Steel

Taiwan

Coca-Cola Enterprises Inc

Beverages

United States

Duratex SA

Building Materials & Fixtures

Brazil

Enbridge Inc

Pipelines

Canada

Entergy Corp

Electricity

United States

Galp Energia SGPS SA

Oil & Gas Producers

Portugal

Gildan Activewear Inc

Clothing, Accessories & Footwear

Canada

Goldcorp Inc

Mining

Canada

Hewlett-Packard Co

Computer Hardware & Electronic Office Equipment

United States

Humana Inc

Healthcare Providers

United States

Infosys Ltd

Computer Services & Internet

India

LG Electronics Inc

Leisure Goods

South Korea

LG Innotek Co Ltd

Electric Components & Equipment

South Korea

Liberty Global Inc

Media

United States

London Stock Exchange Group PLC

Financial Services

United Kingdom

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 41

Company

Sector

Country

Microsoft Corp

Software

United States

Nokia OYJ

Communication Technology

Finland

Novo Nordisk A/S

Pharmaceuticals

Denmark

Outotec OYJ

Industrial Engineering

Finland

Reckitt Benckiser Group PLC

Nondurable Household Products

United Kingdom

Samsung Life Insurance Co Ltd

Insurance

South Korea

Seven & I Holdings Co Ltd

General Retailers

Japan

Siemens AG

Diversified Industrials

Germany

Sodexo

Hotels, Restaurants, Bars & Recreational Services

France

Spectra Energy Corp

Gas Distribution

United States

Stanley Black & Decker Inc

Durable Household Products

United States

Sumitomo Forestry Co Ltd

Home Construction

Japan

Svenska Cellulosa AB

Personal Products

Sweden

Swisscom AG

Fixed Line Communications

Switzerland

Sysmex Corp

Medical Products

Japan

Telenor ASA

Mobile Telecommunications

Norway

Tokyu Land Corp

Real Estate

Japan

TUI AG

Travel & Tourism

Germany

UPM-Kymmene OYJ

Forestry & Paper

Finland

Valeo SA

Auto Parts & Tires

France

Waste Management Inc

Waste & Disposal Services

United States

Yokogawa Electric Corp

Electronic Equipment

Japan

zw AxmX lA lA X ASlmX XV lX uA kX z z mzxAu mw z XwXx mx lXm AmxARmum X ]z wAxSX m lmx lXm XS z A X xAwXV lX 0zRXSz1 " 1XS z "z X Á z A umwm XV x wRX z] XS z ]z lmSl lX X A xz mw z XwXx mx AmxARmum Sz X Â xz 1XS z "z X A XuXS XVÁ

42 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

1XS z mx mkl à ¡ XS z A A kuAxSX Sector

Page

Sector

Page

Aerospace & Defense

44

Healthcare Providers

73

Airlines

45

Heavy Construction

74

Aluminum

46

Home Construction

75

Auto Parts & Tires

47

Hotels, Restaurants, Bars & Recreational Services

76

Automobiles

48

Industrial Engineering

77

Banks

49

Industrial Transportation

78

Beverages

50

Insurance

79

Biotechnology

51

Leisure Goods

80

Building Materials & Fixtures

52

Media

81

Chemicals

53

Medical Products

82

Clothing, Accessories & Footwear

54

Mining

83

Communication Technology

55

Mobile Telecommunications

84

Computer Hardware & Electronic Office Equipment

56

Nondurable Household Products

85

Computer Services & Internet

57

Oil & Gas Producers

86

Containers & Packaging

58

Oil Equipment & Services

87

Diversified Industrials

59

Personal Products

88

Durable Household Products

60

Pharmaceuticals

89

Electric Components & Equipment

61

Pipelines

90

Electricity

62

Real Estate

91

Electronic Equipment

63

Renewable Energy Equipment

92

Financial Services

64

Semiconductors

93

Fixed Line Communications

65

Software

94

Food & Drug Retailers

66

Specialized Consumer Services

95

Food Producers

67

Steel

96

Forestry & Paper

68

Support Services

97

Furnishing

69

Tobacco

98

Gambling

70

Travel & Tourism

99

Gas Distribution

71

Waste & Disposal Services

100

General Retailers

72

Water

101 3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 43

Aerospace & Defense

Driving forces x ‹lX SzwwX†SmAu Am†umxX ‡ƒASXĂ‚ ‹lX Szx‘X†kXxSX z] XSzxzwmS AxV †XkÂŒuA‹z†” mxSXx‹m‘X‡ lA‡ ‡‹†Xxk‹lXxXV ‹lX umxt RX‹’XXx Xx‘m†zxwXx‹Au AxV XSzxzwmS ƒX†]z†wAxSXà ‡ A †X‡Œu‹Â ‹lX†X lA‡ RXXx A ‡Œ‡‹AmxXV ƒŒ‡l ]z† ĠzVÂŒS‹‡ AxV ‹XSlxzuzkmX‡ ‹lA‹ uXAV ‹z uzÂ’X† Xwm‡‡mzx‡ AxV XxX†k” Szx‡Œwƒ‹mzxĂ‚ lmklX† z‘X†Auu X]]mSmXxS” AxV uzÂ’X† zƒX†A‹mxk AxV wAmx‹XxAxSX Sz‡‹‡à 3lm‡ ܠXxV m‡ umtXu” ‹z ƒX†‡m‡‹ †XkA†VuX‡‡ z] ]Œ‹Œ†X wAS†zXSzxzwmS VX‘XuzƒwXx‹‡Â Ġz‘mVmxk Ax mxSXx‹m‘X ]z† Szx‹mxÂŒXV mxxz‘A‹mzxĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx

%x ‹lX Â’XAƒzx†” AxV VX]Xx‡X ‡mVX z] ‹lX RŒ‡mxX‡‡Â ‹lX SŒ††Xx‹ kXzƒzum‹mSAu ‡m‹ŒA‹mzx lA‡ uXV ‹z Ax mxS†XA‡X mx Rz‹l Szx‘Xx‹mzxAu AxV ÂŒxĠXSXVXx‹XV ‡XSΠm‹” SlAuuXxkX‡ ‹lA‹ SAuu ]z† wz†X ]uX“mRuX AxV mx‹XuumkXx‹ ‹XSlxzuzkmX‡ A‡ Â’Xuu A‡ ‡zuŒ‹mzx‡ Ġz‘mVmxk mwĠz‘XV mx‹Xk†A‹mzx z] ‡”‡‹Xw‡ AxV †X‡zΠSX‡à m‘Xx ‹lX mxS†XA‡mxk ]zSŒ‡ zx †XƒŒ‹A‹mzxAu AxV umSXx‡X ‹z zƒX†A‹X m‡‡ŒX‡Â SzwƒAxmX‡ X“ƒz‡XV ‹z ‹lX mxVÂŒÂ‡Â‹Â†Â”Ă“Â‡ Sm‘mumAx AxV VX]Xx‡X ‡XkwXx‹‡ xXXV ‹z ƒA” Suz‡X A‹‹Xx‹mzx ‹z uzSAu AxV mx‹X†xA‹mzxAu †XkÂŒuA‹z†” AxV X‹lmSAu m‡‡ŒX‡Ă

Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Bombardier Inc*

Canada

RobecoSAM Bronze Class BAE Systems PLC** Embraer SA Finmeccanica SpA Rolls-Royce Holdings PLC � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

United Kingdom Brazil

Number of companies in universe

38

Number of companies assessed by RobecoSAM in 2012

18

Assessed companies to total companies in universe (%)

47

Market capitalization of assessed companies to total market capitalization (%)

74

Italy United Kingdom

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

58%

88%

37%

Environmental

44%

85%

28%

Social

48%

76%

35%

As of October 31, 2012

Total score average 50% best 81% 0

44 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Airlines

Driving forces 3lX Am†umxX mxVŒ‡‹†” Szx‹mxÂŒX‡ ‹z ]ASX ‡mkxm]mSAx‹ XSzxzwmS SlAuuXxkX‡ ‡ŒSl A‡ ]uÂŒS‹ŒA‹mxk ]ÂŒXu ĠmSX‡Â z‘X†SAƒASm‹” AxV SlAxkmxk SŒ‡‹zwX† VXwAxV ƒA‹‹X†x‡à u‹lzÂŒkl mxS†XA‡mxk Szx‡zumVA‹mzx Â’m‹lmx ‹lX mxVŒ‡‹†” lA‡ mxS†XA‡XV X]]mSmXxS” wAx” Am†umxX‡ A†X ‡‹muu Szƒmxk Â’m‹l †m‡mxk Sz‡‹‡ AxV uzÂ’X† Ġz]m‹ARmum‹” Â’lmuX ‹†”mxk ‹z AVV†X‡‡ tX” ‡Œ‡‹AmxARmum‹” m‡‡ŒX‡à 3lAxt‡ ‹z Ax mxVÂŒÂ‡Â‹Â†Â”Ă°Â’mVX Szwwm‹wXx‹ ‹z †XVÂŒSmxk k†XXxlzŒ‡X kA‡ Xwm‡‡mzx‡Â Am†umxX‡ xzÂ’ lA‘X A SuXA† †zAVwAƒ ]z† ‹lXm† uzxkð‹X†w ‡Œ‡‹AmxARmum‹” ‡‹†A‹XkmX‡à xS†XA‡XV z†VX†‡ z] ‡‹A‹XĂ°z]ð‹lXĂ°A†‹ Am†S†A]‹ AxV mx‘X‡‹wXx‹‡ mx‹z ]ÂŒXuð‡A‘mxk ‹XSlxzuzk” A†X XxARumxk uzxkð‹X†w Sz‡‹ ‡A‘mxk‡ Â’lmuX wXX‹mxk ‡Œ‡‹AmxARmum‹” ‹A†kX‹‡à 1‹muuĂ‚ A uASt z] kz‘X†xwXx‹ mx‹X†X‡‹ AxV mx‘X‡‹wXx‹ mx VX‘Xuzƒmxk AxV SzwwX†SmAum—mxk Au‹X†xA‹m‘X ]ÂŒXu‡ †XwAmx‡Â uXA‘mxk ‹lX VX‘XuzƒwXx‹ Sz‡‹‡ ‹z ‹lX Ġm‘A‹X ‡XS‹z†à 3lX 4 wm‡‡mzx‡ 3†AVmxk 1SlXwXĂ‚ ‹lzÂŒkl wX‹ Â’m‹l ‡mkxm]mSAx‹ mx‹X†xA‹mzxAu †X‡m‡‹AxSXĂ‚ wA” ƒuA” A tX” †zuX mx XxSzΠAkmxk Am†umxX‡ ‹z AV‘AxSX ‹lXm† ‡Œ‡‹AmxARmum‹” ‡‹†A‹XkmX‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą uXX‹ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0zŒ‹X #X‹’z†t 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą #zm‡X Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Air France-KLM*/**

France

RobecoSAM Bronze Class

Number of companies in universe

22

Number of companies assessed by RobecoSAM in 2012

16

Assessed companies to total companies in universe (%)

73

Deutsche Lufthansa AG

Germany

Market capitalization of assessed

Qantas Airways Ltd

Australia

companies to total market capitalization (%)

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

87

Results at sector level

As of October 31, 2012

Dimension

Average

Best

Dimension

score

score

weight

Economic

63%

91%

42%

Environmental

55%

93%

28%

Social

55%

83%

30%

Total score average 58% best 89% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 45

Aluminum

Driving forces xX†k” Szx‡Œwƒ‹mzx AxV SumwA‹X SlAxkX †XwAmx ‹’z z] ‹lX wz‡‹ ĠX‡‡mxk m‡‡ŒX‡ ]ASmxk ‹lX AuÂŒwmxÂŒw mxVÂŒÂ‡Â‹Â†Â”Ă 3zVA” SzAu AxV l”V†zƒzÂ’X† A†X ‹lX ĠmwA†” XxX†k” ‡zΠSX‡ Œ‡XV mx AuÂŒwmxÂŒw ĠzVÂŒS‹mzxĂ u‹lzÂŒkl ƒzÂ’X† Szx‡Œwƒ‹mzx ĂŁ":lê‹Ê lA‡ RXXx lAu‘XV z‘X† ‹lX ƒA‡‹ ‹Xx ”XA†‡Â ‡wXu‹mxk †XwAmx‡ Ax XxX†k”ð mx‹Xx‡m‘X ĠzSX‡‡ ‹lA‹ Œ‡X‡ Szx‡mVX†ARu” wz†X XxX†k” ‹lAx ‡‹XXu ĠzVÂŒS‹mzxĂ 3lm‡ XSzuzkmSAu Vm‡AV‘Ax‹AkX m‡ ƒA†‹u” z]]‡X‹ R” ‹lX ‡mkxm]mSAx‹u” uzÂ’X† ‡ƒXSm]mS Â’Xmkl‹ z] AuÂŒwmxÂŒw AxV ‹lX wzVX†A‹X XxX†k” mxƒŒ‹ †XÂ…ÂŒm†XV ]z† AuÂŒwmxÂŒw †XS”SumxkĂ #X‘X†‹lXuX‡‡Â ]Œ†‹lX† VXS†XA‡X‡ mx ‡ƒXSm]mS XxX†k” Szx‡Œwƒ‹mzx AxV k†XXxlzŒ‡X kA‡ Xwm‡‡mzx‡ ]†zw AxzVX Szx‡Œwƒ‹mzx †XwAmx A tX” SlAuuXxkXĂ x ‹X†w‡ z] ‡zSmAu ‡Œ‡‹AmxARmum‹” zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” VzwmxA‹X ‹lX AkXxVAĂ zÂ’X‘X†Â A‡ AuÂŒwmxÂŒw ĠzVÂŒSX†‡ RXSzwX ‘X†‹mSAuu” mx‹Xk†A‹XVĂ‚ ‹lX” A†X Au‡z mxS†XA‡mxku” ]ASXV Â’m‹l AVVm‹mzxAu ‡Œ‡‹AmxARmum‹” m‡‡ŒX‡ ‡ŒSl A‡ ‡‹AtXlzuVX† XxkAkXwXx‹ AxV wmxX†Au Â’A‡‹X wAxAkXwXx‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą xARumxk zSAu X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1zSmAu wƒAS‹‡ zx zwwÂŒxm‹mX‡

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Alcoa Inc*/**

United States

RobecoSAM Silver Class Norsk Hydro ASA � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

Norway

4

Number of companies assessed by RobecoSAM in 2012

4

Assessed companies to total companies in universe (%)

100

Market capitalization of assessed companies to total market capitalization (%)

100

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

68%

80%

25%

Environmental

59%

80%

38%

Social

67%

85%

37%

Total score average 65% best 81% 0

46 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Auto Parts & Tires

Driving forces x‹Xx‡X SzwƒX‹m‹mzx mx ‹lX AŒ‹zwz‹m‘X ‡XS‹z† †XÂ…ÂŒm†X‡ ‡ŒƒƒumX†‡ z] AŒ‹z ƒA†‹‡ Ă— ‹m†X‡ ‹z Szx‡m‡‹Xx‹u” VXum‘X† mwĠz‘XV ĠzVÂŒS‹‡ Â’lmuX ‹lX” ]ASX Szx‡‹Ax‹ SzwƒX‹m‹m‘X ĠX‡‡Œ†X ‹z †XVÂŒSX ĠmSX‡ zx ‹lXm† X“m‡‹mxk ĠzVÂŒS‹ †AxkXĂ 3mkl‹Xxmxk Xwm‡‡mzx †XkÂŒuA‹mzx‡ A†zÂŒxV ‹lX Â’z†uV lA‘X Ġz‘mVXV wAx” AŒ‹z ƒA†‹‡ ‡ŒƒƒumX†‡ Â’m‹l Ax zƒƒz†‹Œxm‹” ‹z k†zÂ’ ]A‡‹X† ‹lAx kuzRAu SA† ĠzVÂŒS‹mzxĂ 1ŒƒƒumX†‡ z] ‹XSlxzuzkmX‡ ‹lA‹ lXuƒ †XVÂŒSX Xwm‡‡mzx‡ SAx mxS†XA‡X ‹lXm† ĠzVÂŒS‹‡Ó wA†tX‹ ƒXxXܠA‹mzxà ‹ ‹lX ‡AwX ‹mwXĂ‚ ‹lX Szx‹mxÂŒXV ‡lm]‹ z] ‹lX ĠzVÂŒS‹mzx RA‡X mx‹z XwX†kmxk wA†tX‹‡ ƒŒ‹‡ uA†kX uXAVmxk ‡ŒƒƒumX†‡ A‹ Ax AV‘Ax‹AkX †XuA‹m‘X ‹z ‡wAuu †XkmzxAu ĠzVÂŒSX†‡à X‡ƒm‹X ‹lm‡ Rzz‡‹ ]†zw AVVm‹mzxAu ‘zuÂŒwX‡Â ‡ŒƒƒumX†‡ wŒ‡‹ Szx‹mxÂŒzŒ‡u” mwĠz‘X ‹lXm† ĠzVÂŒS‹mzx X]]mSmXxS” AxV †XVÂŒSX ‹lX Sz‡‹ z] ‹lXm† wA‹X†mAu‡ ‹z ĠX‘Xx‹ X†zVmxk wA†kmx‡à xxz‘A‹mzx †XwAmx‡ A tX” Vm]]X†Xx‹mA‹mxk ]AS‹z†Â XxARumxk SzwƒAxmX‡ ‹z ‡XSΠX A SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ 1Œƒƒu” SlAmx wAxAkXwXx‹ lA‡ k†zÂ’x mx mwƒz†‹AxSX A‡ X]]z†‹‡ ‹z mwĠz‘X X]]mSmXxS” lA‘X uXV ‹z A SzxSXxܠA‹mzx z] ‹lX ‡XS‹z†Â †X‡Œu‹mxk mx ]XÂ’X†Â RŒ‹ wz†X kuzRAu ƒuA”X†‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Pirelli & C. SpA*

Italy

RobecoSAM Silver Class Cie Generale des Etablissements Michelin

France

Johnson Controls Inc

51

Number of companies assessed by RobecoSAM in 2012

21

Assessed companies to total companies in universe (%)

41

Market capitalization of assessed companies to total market capitalization (%)

RobecoSAM Bronze Class Hyundai Mobis

Number of companies in universe

70

South Korea United States

Results at sector level

Runners up Bridgestone Corp

Japan

Denso Corp

Japan

Valeo SA**

France

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Dimension

Average

Best

Dimension

score

score

weight

Economic

58%

84%

27%

Environmental

51%

92%

37%

Social

51%

85%

36%

As of October 31, 2012

Total score average 53% best 86% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 47

Automobiles

Driving forces 3lX AŒ‹zwzRmuX ‡XS‹z† ]ASX‡ A xÂŒwRX† z] tX” SlAuuXxkX‡ mxSuÂŒVmxk ‹lX xXXV ‹z VX]mxX AxV mwƒuXwXx‹ A SuXA† wA†tX‹ ƒz‡m‹mzxmxk ‡‹†A‹Xk” mx Ax Xx‘m†zxwXx‹ SlA†AS‹X†m—XV R” z‘X†SAƒASm‹mX‡Â SÂŒÂ‹Ă°Â‹l†zA‹ SzwƒX‹m‹mzxĂ‚ AxV Sz‡‹ ĠX‡‡Œ†X ‡‹Xwwmxk ]†zw lmklX† 0Ă— AxV †AÂ’ wA‹X†mAu Sz‡‹‡à m‘Xx mxS†XA‡mxku” ‹mkl‹ †XkÂŒuA‹mzx‡ zx k†XXxlzŒ‡X kA‡ Xwm‡‡mzx‡ AxV Am† ƒzuuŒ‹Ax‹‡Â A‡ Â’Xuu A‡ ‹lX ‡XS‹z†Ó‡ VXƒXxVXxSX zx zmuĂ‚ SA†wAtX†‡ xXXV ‹z mwĠz‘X ]ÂŒXu X]]mSmXxS” AxV uzÂ’X† ‹lX SA†Rzx mx‹Xx‡m‹” z] ‹lXm† ĠzVÂŒS‹ ƒz†‹]zumz R” mxܠzVÂŒSmxk Au‹X†xA‹m‘X ĠzƒŒu‡mzx ‡”‡‹Xw‡ ‡ŒSl A‡ XuXSܠmS wz‹z†‡à x ‹lm‡ †X‡ƒXS‹Â ‹AuXx‹XVĂ‚ ‡tmuuXV AxV wz‹m‘A‹XV Xwƒuz”XX‡ A†X Vm†XS‹u” †X‡ƒzx‡mRuX ]z† VX‘Xuzƒmxk mxxz‘A‹m‘X ĠzVÂŒS‹‡Â mwĠz‘mxk X]]mSmXxS” AxV Xx‡Œ†mxk ĠzVÂŒS‹mzx Â…ÂŒAum‹”à 3lÂŒÂ‡Ă‚ Ġzk†X‡‡m‘X lÂŒwAx †X‡zΠSX‡ ƒzumSmX‡ ‹lA‹ mxSuÂŒVX ‹AuXx‹ A‹‹†AS‹mzx Ă— †X‹Xx‹mzxĂ‚ lÂŒwAx SAƒm‹Au VX‘XuzƒwXx‹Â zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” AxV k†zÂŒÂƒĂ°Â’mVX X‹lmSAu ĠmxSmƒuX‡ A†X mxVm‡ƒXx‡ARuX ‹z A SzwƒAx”Ó‡ ‡ŒSSX‡‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1zSmAu 0Xƒz†‹mxk Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Bayerische Motoren Werke AG*

Germany

RobecoSAM Silver Class Fiat SpA Toyota Motor Corp Volkswagen AG

Italy Japan

Number of companies in universe

31

Number of companies assessed by RobecoSAM in 2012

17

Assessed companies to total companies in universe (%)

55

Market capitalization of assessed companies to total market capitalization (%)

Results at sector level

RobecoSAM Bronze Class Daimler AG

Germany

Peugeot SA

France

Dimension

Average

Best

Dimension

score

score

weight

Economic

72%

92%

31%

Environmental

79%

98%

35%

Social

71%

93%

34%

� 0zRXSz1 " 1XS‹z† XAVX†

As of October 31, 2012

76

Germany

Total score average 74% best 93% 0

48 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Banks

Driving forces 3lX RAxtmxk ‡XS‹z† †XwAmx‡ ÂŒxVX† ƒŒRumS ‡S†Œ‹mx”à ‡ RAxt‡ Â’z†t ‹z †X‡‹z†X ‹lXm† S†XVmRmum‹” AxV SzxܠmRŒ‹X ‹z ‡‹ARuX ]mxAxSmAu ‡”‡‹Xw‡Â uXAVX†‡lmƒ AxV ASSzÂŒx‹ARmum‹” A†X tX” ]AS‹z†‡ mx RÂŒmuVmxk A SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ VlX†XxSX ‹z mx‹X†xA‹mzxAu RX‡‹ ĠAS‹mSX‡ mx Sz†ƒz†A‹X kz‘X†xAxSXĂ‚ †m‡t wAxAkXwXx‹ AxV SzwƒumAxSX ‡‹AxVA†V‡ †XwAmx‡ A xXSX‡‡m‹”à 0XkÂŒuA‹mzxĂ‚ ƒzum‹mSAu AxV ‡‹AtXlzuVX† ĠX‡‡Œ†XĂ‚ VXwzk†AƒlmS ‡lm]‹‡ AxV SumwA‹X SlAxkX Â’muu Szx‹mxÂŒX ‹z lA‘X Ax mwƒAS‹ zx ‹lX RŒ‡mxX‡‡ Xx‘m†zxwXx‹à XAVmxk RAxt‡ A†X mx‹Xk†A‹mxk Xx‘m†zxwXx‹Au AxV ‡zSmAu ]AS‹z†‡ mx‹z ‹lXm† uzxkð‹X†w ‡‹†A‹XkmX‡ AxV ƒX†]z†wAxSX †X‘mX’‡à wÂŒu‹mð‡‹AtXlzuVX†ðV†m‘Xx Aƒƒ†zASl ‹z VX‘Xuzƒmxk mxxz‘A‹m‘X AxV ƒ†ŒVXx‹ ]mxAxSmAu ‡X†‘mSX‡ AxV ĠzVÂŒS‹‡ m‡ X‡‡Xx‹mAuĂ "z‹m‘A‹XVĂ‚ lmklu” XVÂŒSA‹XV AxV X“ƒX†mXxSXV Xwƒuz”XX‡ A†X A S†m‹mSAu ‹z VX‘Xuzƒmxk ‡ŒSl ]mxAxSmAu ‡X†‘mSX‡ AxV ĠzVÂŒS‹‡ A‡ Â’Xuu A‡ mx A‹‹†AS‹mxk AxV †X‹Amxmxk SumXx‹‡à ‹ ‹lX ‡AwX ‹mwXĂ‚ SumwA‹X SlAxkX AxV †X‡zΠSX ‡SA†Sm‹” A†X S†XA‹mxk xXÂ’ RŒ‡mxX‡‡ zƒƒz†‹Œxm‹mX‡Â ]z† X“AwƒuX mx ‹lX A†XA z] uzÂ’Ă°SA†Rzx wz†‹kAkX‡ z† ]ÂŒxVmxk ‡SlXwX‡ ]z† mxxz‘A‹m‘X ‡XS‹z†‡ ‹lA‹ A†X ƒA‘mxk ‹lX Â’A” ‹zÂ’A†V A uzÂ’Ă°SA†Rzx XSzxzw”Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą Œ‡mxX‡‡ 0m‡t‡ Ă— %ƒƒz†‹Œxm‹mX‡ Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk 1zSmAu mwXx‡mzx Ăą zxܠz‘X†‡mAu ‡‡ŒX‡Â muXwwA‡ mx XxVmxk ĂŞ mxAxSmxk Ăą mxAxSmAu xSuŒ‡mzx Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Australia & New Zealand Banking Group Ltd*

Australia

RobecoSAM Silver Class Westpac Banking Corp

Australia

Number of companies in universe

232

Number of companies assessed by RobecoSAM in 2012

114

Assessed companies to total companies in universe (%)

49

Market capitalization of assessed companies to total market capitalization (%)

RobecoSAM Bronze Class Banco Bradesco SA

Brazil

Banco do Brasil SA

Brazil

Itau Unibanco Holding SA

Brazil

National Australia Bank Ltd

Australia

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

69%

97%

41%

Environmental

54%

93%

24%

Social

51%

90%

35%

Runners up Banca Monte dei Paschi di Siena SpA Banco Bilbao Vizcaya Argentaria SA Banco Espirito Santo SA

Germany

Spain DNB ASA Portugal HSBC Holdings PLC

Banco Santander SA

Norway United Kingdom

Spain Intesa Sanpaolo SpA

BanColombia SA

Colombia Lloyds Banking Group PLC

Bankinter SA Barclays PLC

Italy Deutsche Bank AG

Italy United Kingdom

Spain Nedbank Group Ltd

CaixaBank**

Canada

France Royal Bank of Scotland Group PLC Spain Shinhan Financial Group Co Ltd

Commonwealth Bank of Australia Credit Agricole SA Credit Suisse Group AG

United States Societe Generale SA Australia Standard Chartered PLC France UBS AG Switzerland UniCredit SpA

average 59%

UK

best 93%

South Korea

Canadian Imperial Bank of Commerce Canada Skandinaviska Enskilda Banken AB Citigroup Inc

Total score

South Africa

United Kingdom Royal Bank of Canada

BNP Paribas SA

84

Sweden

0

25

50

75

100

France United Kingdom Switzerland Italy

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 49

Beverages

Driving forces x ‹lX wA‹Œ†X kuzRAu RX‘X†AkX mxVÂŒÂ‡Â‹Â†Â”Ă‚ k†z’‹l Â’muu Szx‹mxÂŒX ‹z RX V†m‘Xx R” XwX†kmxk wA†tX‹‡Â VXwzk†AƒlmS ܠXxV‡ AxV mxxz‘A‹mzxĂ A†RzxA‹XV ‡z]‹ V†mxt‡ ASSzÂŒx‹ ]z† ‹lX wAsz†m‹” z] xzxĂ°AuSzlzumS RX‘X†AkX‡ RŒ‹ VXwAxV mx VX‘XuzƒXV wA†tX‹‡ lA‡ RXXx mx VXSumxX ]z† ”XA†‡ A‡ Szx‡ŒwX†‡ ‡lm]‹ ‹zÂ’A†V lXAu‹lmX† AxVĂŞz† uzÂ’X† SAuz†mX Au‹X†xA‹m‘X‡à xVŒ‡‹†” ƒA†‹mSmƒAx‹‡ A†X VX‘Xuzƒmxk AxV wA†tX‹mxk lmklX† Â…ÂŒAum‹” AxV wz†X Vm‘X†‡m]mXV ĠzVÂŒS‹‡ ‹z wXX‹ xXÂ’ Szx‡Œwƒ‹mzx ƒA‹‹X†x‡à %‘X† ‹lX uA‡‹ ]XÂ’ ”XA†‡Â ‡ŒSl xmSlX SA‹Xkz†mX‡ A‡ XxX†k” V†mxt‡ lA‘X XwX†kXV AxV X“ƒAxVXVĂ xxz‘A‹m‘X RX‘X†AkX SzwƒAxmX‡ SAx SAƒ‹Œ†X ‹lX‡X xXÂ’ wA†tX‹ ܠXxV‡ ‹lA‹ ]†XÂ…ÂŒXx‹u” z]]X† ]A‡‹X† k†z’‹l AxV lmkl wA†kmx‡à #XÂ’ zƒƒz†‹Œxm‹mX‡ SAx Au‡z RX ‹AƒƒXV mx XwX†kmxk wA†tX‹‡ Â’lX†X ]A‘z†ARuX VXwzk†AƒlmS ܠXxV‡ A†X Rzz‡‹mxk Szx‡Œwƒ‹mzxĂ m‘Xx ‹lX uA†kX Ġzƒz†‹mzx z] SAuz†mX‡ Szx‡ŒwXV ‹l†zÂŒkl RX‘X†AkX‡Â ‹lX mxVÂŒÂ‡Â‹Â†Â”Ă“Â‡ mxk†XVmXx‹‡ AxV AV‘X†‹m‡mxk ƒzumSmX‡ lA‘X mxS†XA‡mxku” SzwX ÂŒxVX† ‡S†Œ‹mxӈ -†zVÂŒSX†‡ z] AuSzlzumS RX‘X†AkX‡Â mx ƒA†‹mSÂŒuA†Â ]ASX ‹lX SlAuuXxkX z] mwƒuXwXx‹mxk X]]XS‹m‘X AxV †X‡ƒzx‡mRuX wA†tX‹mxk ‡‹†A‹XkmX‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1ܠA‹Xk” ]z† wX†kmxk "A†tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą -AStAkmxk Ăą 0AÂ’ "A‹X†mAu 1zΠSmxk Ăą :A‹X† 0XuA‹XV 0m‡t‡ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą 0X‡ƒzx‡mRmum‹” ]z† uSzlzumS -†zVÂŒS‹‡ Ăą 1zSmAu 0Xƒz†‹mxk Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

38

Molson Coors Brewing Co*

United States

Number of companies assessed by RobecoSAM in 2012

24

PepsiCo Inc

United States

Assessed companies to total companies in universe (%)

63

RobecoSAM Gold Class

Market capitalization of assessed

RobecoSAM Bronze Class Coca Cola Hellenic Bottling Co SA Coca-Cola Enterprises Inc** Diageo PLC � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Greece

companies to total market capitalization (%)

93

United States United Kingdom

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

56%

86%

46%

Environmental

53%

93%

26%

Social

53%

83%

28%

As of October 31, 2012

Total score average 54% best 84% 0

50 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Biotechnology

Driving forces

mz‹XSlxzuzk” SzwƒAxmX‡ Aƒƒu” ‹XSlxzuzkmX‡ RA‡XV zx RmzuzkmSAu ‡”‡‹Xw‡ ‹z VX‘Xuzƒ ĠzVÂŒS‹‡ z† ĠzSX‡‡X‡ Œ‡XV mx SumxmSAu AxV mxVŒ‡‹†mAu AƒƒumSA‹mzx‡ AxV Ak†mSÂŒu‹Œ†XĂ 3lX ‡XS‹z† m‡ SlA†AS‹X†m—XV R” X“‹Xx‡m‘X 0Ă— X]]z†‹‡ AxV A lmkl †m‡t z] ]AmuΠX mx ĠzVÂŒS‹ VX‘XuzƒwXx‹à xxz‘A‹mzx AxV mx‹XuuXS‹ŒAu ĠzƒX†‹” A†X tX” V†m‘X†‡ ‹lA‹ wAtX lmklu” Â…ÂŒAum]mXV Xwƒuz”XX‡ AxV X]]XS‹m‘X lÂŒwAx SAƒm‹Au wAxAkXwXx‹ mwƒz†‹Ax‹ ‡ŒSSX‡‡ ]AS‹z†‡à "XVmSAu Rmz‹XSlxzuzk” SzwƒAxmX‡Â ‡mwmuA† ‹z ƒlA†wASXŒ‹mSAu SzwƒAxmX‡Â ]ASX SlAuuXxkX‡ †XuA‹XV ‹z ĠmSmxk AxV †XmwRŒ†‡XwXx‹ z] ‹lXm† ĠzVÂŒS‹‡Â kuzRAu ƒA‹Xx‹ Ġz‹XS‹mzx AxV ƒŒRumS SzxSX†x‡ z‘X† V†Œk ‡A]X‹”à 3lX Œ‡X z] Rmz‹XSlxzuzk” ĠzVÂŒS‹‡ mx Ak†mSÂŒu‹Œ†X m‡ Â’mVXu” S†m‹mSm—XV Awzxk SX†‹Amx ‡‹AtXlzuVX† k†zÂŒÂƒÂ‡Ă -ÂŒRumS wm‡‹†Œ‡‹ SXx‹X†‡ zx ‹lX ĠzVÂŒS‹mzxĂ‚ †XuXA‡X AxV Œ‡X z] kXxX‹mSAuu” wzVm]mXV ‡XXV‡ AxV ƒuAx‹‡à 3lX Œ‡X z] kXxX‹mSAuu” wzVm]mXV z†kAxm‡w‡ mx Suz‡XV ĠzVÂŒS‹mzx ĠzSX‡‡X‡ ‹z mxS†XA‡X ‹lX ”mXuVĂ‚ ‡ƒXXV AxV ‹lŒ‡ Sz‡‹ X]]mSmXxS” z] mxVŒ‡‹†mAu ĠzSX‡‡X‡ m‡ ]A† uX‡‡ Szxܠz‘X†‡mAuĂ #X‘X†‹lXuX‡‡Â RÂŒmuVmxk AxV wAmx‹Amxmxk ‡‹AtXlzuVX†‡Ó ‹†Œ‡‹ mx ‹lXm† Sz†X ‹XSlxzuzkmX‡ m‡ A kXxX†Au ‡Œ‡‹AmxARmum‹” SlAuuXxkX ]ASXV R” ‹lX Rmz‹XSlxzuzk” mxVŒ‡‹†”Ă

Sustainability leaders 2013

â â

Denmark

RobecoSAM Bronze Class Life Technologies Corp

United States

� 0zRXSz1 " 1XS‹z† XAVX† As of October 31, 2012

Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą VV†X‡‡mxk z‡‹ ΠVXx Ăą XAu‹l %Œ‹SzwX zxܠmRŒ‹mzx Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Number of companies in universe

26

Number of companies assessed by RobecoSAM in 2012

12

Assessed companies to total companies in universe (%)

46

Market capitalization of assessed companies to total market capitalization (%)

Runners up Biogen Idec Inc

SzxzwmS mwXx‡mzx

Sector statistics

RobecoSAM Gold Class Novozymes A/S*

Highlighted criteria

71

United States

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

50%

81%

44%

Environmental

40%

93%

10%

Social

39%

90%

46%

Total score average 44% best 86% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 51

Building Materials & Fixtures

Driving forces 0AƒmV ΠRAxm—A‹mzx mx XwX†kmxk wA†tX‹‡Â †m‡mxk AÂ’A†XxX‡‡ z] Xx‘m†zxwXx‹Au m‡‡ŒX‡ AxV xXÂ’ Szx‡‹†ŒS‹mzx wX‹lzV‡ lA‘X wAVX ‹lX RÂŒmuVmxk wA‹X†mAu‡ ‡XS‹z† A lmklu” V”xAwmS mxVÂŒÂ‡Â‹Â†Â”Ă 3lX ‡XS‹z† Sz‘X†‡ A Vm‘X†‡X ‡X‹ z] SzwƒAxmX‡ XxkAkXV mx ‹lX ĠzVÂŒS‹mzx z] wA‹X†mAu‡ AxV ĠzVÂŒS‹‡ Œ‡XV mx ‹lX Szx‡‹†ŒS‹mzx AxV †X]ΠRm‡lwXx‹ z] RÂŒmuVmxk‡ AxV ‡‹†ŒS‹Œ†X‡Â mxSuÂŒVmxk SXwXx‹Â RA‹l†zzw AxV tm‹SlXx ]m“‹Œ†X‡Â Am†ðSzxVm‹mzxmxk AxV lXA‹mxk XÂ…ÂŒmƒwXx‹à 3lX mxVÂŒÂ‡Â‹Â†Â”Ă“Â‡ Vm‘X†‡X xA‹Œ†X †X‡Œu‹‡ mx ‘A†”mxk SzwƒX‹m‹m‘X Xx‘m†zxwXx‹‡à z† X“AwƒuXĂ‚ SXwXx‹ ĠzVÂŒS‹mzx Szx‡ŒwX‡ uA†kX AwzÂŒx‹‡ z] XxX†k” AxV m‡ A ĠmwX ‡zΠSX z] k†XXxlzŒ‡X kA‡ Xwm‡‡mzx‡à ‡ A †X‡Œu‹Â †XVÂŒS‹mzx‡ mx k†XXxlzŒ‡X kA‡ Xwm‡‡mzx‡ AxV Xx‘m†zxwXx‹Au um]X S”SuX AxAu”‡X‡ Â’muu RX ‹zƒ Ġmz†m‹mX‡ ]z† ‹lX ‡XS‹z†à S†z‡‡ ‹lX RÂŒmuVmxk wA‹X†mAu‡ ‡XkwXx‹Â mxS†XA‡mxku” ‡‹†mxkXx‹ XxX†k” AxV Â’A‹X† X]]mSmXxS” †XkÂŒuA‹mzx †XÂ…ÂŒm†X‡ mxxz‘A‹mzxĂ‚ AxV A‡ A †X‡Œu‹Â ‹lX mxVŒ‡‹†” Â’muu RXSzwX X‘Xx wz†X txzÂ’uXVkXĂ°V†m‘Xx ‹lAx mx ‹lX ƒA‡‹Â wAtmxk ‹AuXx‹ A‹‹†AS‹mzxĂ‚ †X‹Xx‹mzx AxV lÂŒwAx SAƒm‹Au VX‘XuzƒwXx‹ tX” ‡zΠSX‡ z] SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą x‹m‹†Œ‡‹ -zumS” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą mzVm‘X†‡m‹” Ăą umwA‹X 1ܠA‹Xk” Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 3†Ax‡ƒz†‹ AxV zkm‡‹mS‡ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1zSmAu 0Xƒz†‹mxk Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Siam Cement PCL*

Thailand

RobecoSAM Bronze Class Duratex SA** Owens Corning TOTO Ltd

Brazil United States

CRH PLC Holcim Ltd Italcementi SpA1

34

Assessed companies to total companies in universe (%)

61

Market capitalization of assessed companies to total market capitalization (%)

79

Results at sector level Japan Ireland

Dimension

Average

Best

Dimension

score

score

weight

Economic

60%

84%

32%

Environmental

44%

93%

33%

Social

53%

84%

35%

Switzerland Italy

Ă? 0zRXSz1 " 1XS‹z† XAVX† Ă?Ă? 0zRXSz1 " 1XS‹z† "z‘X† š 3lm‡ SzwƒAx” lA‡ RXXx X‘AuÂŒA‹XV zŒ‹‡mVX z] ‹lX †XkÂŒuA† zÂ’ zxX‡ 1Œ‡‹AmxARmum‹” xVX“X‡ A‡‡X‡‡wXx‹ ĠzSX‡‡ As of October 31, 2012

56

Number of companies assessed by RobecoSAM in 2012

Japan

Runners up Asahi Glass Co Ltd

Number of companies in universe

Total score average 52% best 86% 0

52 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Chemicals

Driving forces 3lX SlXwmSAu ‡XS‹z† SzwĠm‡X‡ SzwƒAxmX‡ ‹lA‹ VX‘XuzÂƒĂ‚ wAxÂŒ]AS‹Œ†X AxV Vm‡‹†mRŒ‹X ‡ƒXSmAu‹” AxV SzwwzVm‹” SlXwmSAu‡Â ƒuA‡‹mS‡Â mxVŒ‡‹†mAu kA‡X‡Â Ak†zSlXwmSAu‡ AxV AVVm‹m‘X‡ ]z† ‹lX lXAu‹lSA†X AxV Â’XuuxX‡‡ mxVŒ‡‹†mX‡à xxz‘A‹m‘X ĠzSX‡‡ AxV ĠzVÂŒS‹ VX‘XuzƒwXx‹‡ †XwAmx tX” ‡XS‹z† V†m‘X†‡à zÂ’X‘X†Â k†zÂ’mxk AÂ’A†XxX‡‡ z] ‹lX Xx‘m†zxwXx‹Au mwƒAS‹ z] SlXwmSAu zƒX†A‹mzx‡ lA‡ †X‡Œu‹XV mx uXkm‡uA‹m‘X AxV Szx‡ŒwX†ðV†m‘Xx ĠX‡‡Œ†X zx ‹lX mxVŒ‡‹†” ‹z AVzƒ‹ wz†X ‡Œ‡‹AmxARuX Aƒƒ†zASlX‡ ‡ŒSl A‡ mwƒuXwXx‹mxk ‡‹†mS‹ Xwm‡‡mzx Szxܠzu‡ z† Sz†ƒz†A‹X ‡zSmAu †X‡ƒzx‡mRmum‹” mxm‹mA‹m‘X‡à u‡zĂ‚ xXÂ’ ĠzVÂŒS‹ VX‘XuzƒwXx‹ †XÂ…ÂŒm†X‡ wz†X ‡Œ‡‹AmxARuX ĠzSX‡‡ VX‡mkx‡ mx‘zu‘mxk ĂŁRmzĂŠ SA‹Au”—XV †XAS‹mzx‡ AxV ‹lX †XƒuASXwXx‹ z] ܠAVm‹mzxAu ‡zu‘Xx‹‡ AxV lA—A†VzŒ‡ †XAkXx‹‡ Â’m‹l †XxXÂ’ARuX wA‹X†mAuÂ‡Ă ÂŒÂ†Â‹lX†Â xXÂ’ ĠzVÂŒS‹ AƒƒumSA‹mzx‡ †XÂ…ÂŒm†X ‹lX mwƒuXwXx‹A‹mzx z] SzwĠXlXx‡m‘X ĠzVÂŒS‹ ‡‹XÂ’A†V‡lmƒ wAxAkXwXx‹ ‡”‡‹Xw‡ ‹lA‹ mxSuÂŒVX ĠzVÂŒS‹ VA‹ARA‡X‡ AxV SumXx‹ ܠAmxmxkĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Akzo Nobel NV*

Netherlands

RobecoSAM Silver Class Koninklijke DSM NV

Netherlands

68

Assessed companies to total companies in universe (%)

57

Market capitalization of assessed companies to total market capitalization (%)

RobecoSAM Bronze Class BASF SE

Germany

Bayer AG

Germany

Dow Chemical Co

United States

Praxair Inc

United States

Braskem SA** Clariant AG EI du Pont de Nemours & Co Lanxess AG LG Chem Ltd

United States Brazil Switzerland

Dimension

Average

Best

Dimension

score

score

weight

Economic

57%

92%

34%

Environmental

52%

94%

35%

Social

56%

92%

31%

United States Germany Germany

Solvay SA

Belgium

Teijin Ltd Umicore SA

Total score

South Korea

Linde AG Syngenta AG

83

Results at sector level

Runners up Air Products & Chemicals Inc

119

Number of companies assessed by RobecoSAM in 2012

average 55% best 93%

Switzerland Japan

0

25

50

75

100

Belgium

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 53

Clothing, Accessories & Footwear

Driving forces ASXV Â’m‹l umwm‹XV k†z’‹l mx ‹lX wAsz† VX‘XuzƒXV wA†tX‹‡ AxV ĠzVÂŒS‹ SA‹Xkz†mX‡Â SzwƒAxmX‡ mx ‹lX ‹X“‹muX‡Â ]zz‹’XA† AxV ASSX‡‡z†mX‡ ‡XS‹z† Â’muu xXXV ‹z uX‘X†AkX ‹lXm† ‡‹†zxk R†AxV †XSzkxm‹mzx AxV lmkl uX‘Xu z] mxxz‘A‹mzx ‹z X“ƒAxV mx‹z xXÂ’ wA†tX‹‡ AxV SA‹Xkz†mX‡à 0AƒmVu” SlAxkmxk ]A‡lmzx ܠXxV‡ AxV ‡lz†‹X† ĠzVÂŒS‹ S”SuX‡ xz‹ zxu” †XÂ…ÂŒm†X mxxz‘A‹m‘X wA†tX‹mxk ‡‹†A‹XkmX‡Â RŒ‹ Au‡z ‡zÂŒxV ‡zΠSmxk wzVXu‡Â †X‡ƒzx‡mRuX ‡zΠSmxk AxV AVVm‹mzxAu ܠAx‡ƒA†XxS” zx ‹lX X]]mSmXxS” AxV wAxAkXwXx‹ z] ‹lX ‡Œƒƒu” SlAmxĂ 3lX mxVŒ‡‹†” Szx‹mxÂŒX‡ ‹z ]ASX ‹lX SlAuuXxkX z] mx‹Xk†A‹mxk Xx‘m†zxwXx‹Au Szx‡mVX†A‹mzx‡ mx‹z ĠzVÂŒS‹ VX‡mkx AxV VX‘XuzƒwXx‹à 3lÂŒÂ‡Ă‚ SzwƒAxmX‡ wŒ‡‹ XxkAkX Â’m‹l SzxܠAS‹z†‡ AxV ‡ŒƒƒumX†‡ zx ‡Œ‡‹AmxARmum‹” m‡‡ŒX‡Â AS‹m‘Xu” wzxm‹z† uARz† ĠAS‹mSX‡Â AxV Vm‡Suz‡X ‹lX †X‡Œu‹‡ z] ‹lX‡X AS‹m‘m‹mX‡ ‹z Xx‡Œ†X ]Am† Â’z†tmxk SzxVm‹mzx‡ AxV Ġz‹XS‹ ‹lXm† †XƒŒ‹A‹mzx AxV ÂŒu‹mwA‹Xu” ‹lXm† R†AxV AxV Xx‹X†ƒ†m‡X ‘AuÂŒXĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Adidas AG*

Germany

RobecoSAM Bronze Class

Number of companies in universe

40

Number of companies assessed by RobecoSAM in 2012

25

Assessed companies to total companies in universe (%)

63

Christian Dior SA

France

Market capitalization of assessed

LVMH Moet Hennessy Louis Vuitton SA

France

companies to total market capitalization (%)

Nike Inc Puma SE

80

United States Germany

Results at sector level

Runners up Gildan Activewear Inc** � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

Canada

Dimension

Average

Best

Dimension

score

score

weight

Economic

50%

80%

36%

Environmental

32%

90%

24%

Social

44%

80%

40%

Total score average 43% best 80% 0

54 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Communication Technology

Driving forces zx‡‹Ax‹ mxxz‘A‹mzx AxV A ‡‹†zxk mx‹XuuXS‹ŒAu ĠzƒX†‹” ƒz†‹]zumz A†X S†ŒSmAu ]z† SzwƒAxmX‡ mx ‹lX SzwwÂŒxmSA‹mzx ‹XSlxzuzk” mxVÂŒÂ‡Â‹Â†Â”Ă 3lX Â…ÂŒmSt AVzƒ‹mzx z] xXÂ’ Ă?‡wA†‹Ñ wzRmuX VX‘mSX‡ Â’m‹l ‡lz†‹ ĠzVÂŒS‹ um]X S”SuX‡ lA‡ lXmkl‹XxXV SzwƒX‹m‹mzx Awzxk wAxÂŒ]AS‹Œ†X†‡ AxV Ġz‘mVX†‡ z] SzwwÂŒxmSA‹mzx XÂ…ÂŒmƒwXx‹à x AVVm‹mzxĂ‚ wA‡‡ ĠzVÂŒS‹mzx z] ‡ŒSl VX‘mSX‡ AxV ‹lX mxS†XA‡XV ‹z‹Au XxX†k” Szx‡Œwƒ‹mzx VΠmxk ‹lXm† Œ‡X lA‘X ‡lA†ƒXxXV ‹lX ]zSŒ‡ zx ‹lX Xx‘m†zxwXx‹Au ƒX†]z†wAxSX z] VX‘mSX‡ AxV XÂ…ÂŒmƒwXx‹ z‘X† ‹lX ĠzVÂŒS‹Ó‡ um]X S”SuXĂ 3lX VX‡mkx z] A ĠzVÂŒS‹ wŒ‡‹ Szx‡mVX† ‹lX ĠzVÂŒS‹mzx mxÂƒÂŒÂ‹Â‡Ă‚ XxX†k” X]]mSmXxS” VΠmxk Œ‡XĂ‚ AxV Vm‡ƒz‡Au zƒ‹mzx‡à 3AtXĂ°RASt Ġzk†Aw‡Â k†XA‹X† wzVÂŒuA†m‹” AxV X“‹XxVXV ĠzVÂŒSX† †X‡ƒzx‡mRmum‹” A†X RXSzwmxk mxS†XA‡mxku” †XuX‘Ax‹à x‘m†zxwXx‹Au AxV ‡zSmAu ‡‹AxVA†V‡ ]z† ‡ŒƒƒumX†‡ A†X tX” ]AS‹z†‡ A‡ A uA†kX ‡lA†X z] ĠzVÂŒS‹mzx m‡ zŒ‹‡zΠSXV ‹z XwX†kmxk XSzxzwmX‡à 3lX VX‘XuzƒwXx‹ AxV Œ‡X z] SX†‹Amx ‹XSlxzuzkmX‡ ‹z wzxm‹z† SzwwÂŒxmSA‹mzx †Am‡X‡ Â…ÂŒX‡‹mzx‡ †XuA‹XV ‹z ƒz‹Xx‹mAu ‘mzuA‹mzx‡ z] ‹lX lÂŒwAx †mkl‹ ‹z ]†XXVzw z] X“ƒ†X‡‡mzx AxV Ġm‘AS”à ‡ A †X‡Œu‹Â ‹lX ‡XS‹z† wŒ‡‹ VXwzx‡‹†A‹X SuXA† ‡‹AxVA†V‡ †X]uXS‹mxk m‹‡ Szwwm‹wXx‹ ‹z lÂŒwAx †mkl‹‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą -†m‘AS” -†z‹XS‹mzx Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą A—A†VzŒ‡ 1ÂŒR‡‹AxSX‡ Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą mkm‹Au xSuŒ‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Alcatel-Lucent SA*

France

RobecoSAM Silver Class Nokia OYJ**

Finland

24

Number of companies assessed by RobecoSAM in 2012

10

Assessed companies to total companies in universe (%)

42

Market capitalization of assessed companies to total market capitalization (%)

Runners up Cisco Systems Inc

Number of companies in universe

86

United States

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Results at sector level

As of October 31, 2012

Dimension

Average

Best

Dimension

score

score

weight

Economic

62%

92%

40%

Environmental

47%

92%

31%

Social

48%

80%

29%

Total score average 53% best 87% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 55

Computer Hardware & Electronic Office Equipment

Driving forces 3lX ‹XSlxzuzk” XÂ…ÂŒmƒwXx‹ ‡XS‹z† m‡ SlA†AS‹X†m—XV R” Vm‡†Œƒ‹m‘X mxxz‘A‹mzx‡Â ‘X†‹mSAu mx‹Xk†A‹mzx z] ‹lX ‡Œƒƒu” SlAmx AxV wA‡‡ ĠzVÂŒS‹mzx z] XuXSܠzxmS XÂ…ÂŒmƒwXx‹à 1lz†‹X† ĠzVÂŒS‹ um]X S”SuX‡ AxV ‹lX ÂŒRmÂ…ÂŒm‹” z] XuXSܠzxmS VX‘mSX‡ A†zÂŒxV ‹lX Â’z†uV lA‘X †X‡Œu‹XV mx lmkl Vm‡ƒz‡Au ‘zuÂŒwX‡à 3z AVV†X‡‡ ‹lX m‡‡ŒX z] XuXSܠzxmS Â’A‡‹XĂ‚ ĠzVÂŒS‹ VX‡mkx AxV ‡AuX‡ xXXV ‹z Szx‡mVX† XxX†k” AxV wA‹X†mAu Szx‡X†‘A‹mzxĂ‚ wzVÂŒuA†m‹” ‹AtXĂ°RASt Ġzk†Aw‡ AxV X“‹XxVXV ĠzVÂŒSX† †X‡ƒzx‡mRmum‹”à 0X‘XxÂŒX ‡‹†XAw‡ SAx RX Vm‘X†‡m]mXV ‹l†zÂŒkl A k†AVÂŒAu wmk†A‹mzx ]†zw ‡AuX ‹z uXA‡mxkĂ‚ AxV ]†zw ĠzVÂŒS‹‡ ‹z ‹lX Ġz‘m‡mzx z] ‡X†‘mSX‡à z† X“AwƒuXĂ‚ R” zŒ‹‡zΠSmxk VA‹A ‡‹z†AkX ‹z lÂŒkX VA‹ASXx‹X†‡Â SzwƒAxmX‡ SAx S†XA‹X xXÂ’ RŒ‡mxX‡‡ zƒƒz†‹Œxm‹mX‡ Â’lmuX z]]X†mxk SŒ‡‹zwX†‡ XxX†k”ðX]]mSmXx‹ AxV Sz‡‹ðX]]XS‹m‘X ‡‹z†AkXĂ ]]XS‹m‘X mwƒuXwXx‹A‹mzx z] Xx‘m†zxwXx‹Au ‡‹AxVA†V‡ AxV wzxm‹z†mxk z] ‡ŒƒƒumX† SzwƒumAxSX mx A†XA‡ ‡ŒSl A‡ ‹lX Œ‡X z] lA—A†VzŒ‡ wA‹X†mAu‡ AxV ]Am† Â’z†tmxk SzxVm‹mzx‡ mx XwX†kmxk XSzxzwmX‡ A†X ƒA†‹mSÂŒuA†u” †XuX‘Ax‹ ]z† ‹lX ‡XS‹z†à mxAuu” mx]z†wA‹mzx ‹XSlxzuzk” SAx mxS†XA‡mxku” XxARuX SA†Rzx Xwm‡‡mzx‡ †XVÂŒS‹mzx‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą A—A†VzŒ‡ 1ÂŒR‡‹AxSX‡ Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą mkm‹Au xSuŒ‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1‹AtXlzuVX† xkAkXwXx‹

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

41

Taiwan

Number of companies assessed by RobecoSAM in 2012

23

Japan

Assessed companies to total companies in universe (%)

56

RobecoSAM Gold Class AU Optronics Corp* Konica Minolta Holdings Inc

Market capitalization of assessed

RobecoSAM Bronze Class EMC Corp

United States

Fujitsu Ltd

Japan

Hewlett-Packard Co**

United States

Lexmark International Inc

United States

NEC Corp � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

Japan

companies to total market capitalization (%)

93

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

62%

85%

41%

Environmental

58%

87%

30%

Social

50%

71%

29%

Total score average 57% best 79% 0

56 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Computer Services & Internet

Driving forces 3lX 3 ‡X†‘mSX ‡XS‹z† lXuƒ‡ SzwƒAxmX‡ †Œx ‹lXm† RŒ‡mxX‡‡X‡ X]]mSmXx‹u” ‹l†zÂŒkl ‡z]‹’A†X AƒƒumSA‹mzx‡ AxV mx‹Xk†A‹mzxĂ 3lX Œ‡X z] ‡XSΠX mx]z†wA‹mzx ‹XSlxzuzk” AxV A †mkz†zŒ‡u” Xx]z†SXV SzVX z] SzxVÂŒS‹ Sz‘X†mxk ASSX‡‡ ‹z Szx]mVXx‹mAu VA‹A lXuƒ Ġz‹XS‹ SumXx‹ Ġm‘ASӈ zwƒAxmX‡ xXXV X]]XS‹m‘X txzÂ’uXVkX wAxAkXwXx‹ AxV ܠAmxmxk ‹z A‹‹†AS‹ AxV †X‹Amx Â…ÂŒAum]mXV ‡‹A]]Ă XAVmxk SzwƒAxmX‡ ASSX‡‡ AxV ‡lA†X ‹lX txzÂ’uXVkX RA‡X z] A kuzRAu xX‹’z†t ‹z S†XA‹X SŒ‡‹zwm—XV ‡zuŒ‹mzx‡Ă

” RXSzwmxk wz†X ܠAx‡ƒA†Xx‹Â ƒA†‹mSÂŒuA†u” Â’m‹l †XkA†V ‹z Vm‡Suz‡Œ†X‡ z] RŒ‡mxX‡‡ ĠAS‹mSX‡Â SzwƒAxmX‡ SAx †X‡‹z†X ‡lA†XlzuVX† Szx]mVXxSX mx ‹lXm† Sz†ƒz†A‹X kz‘X†xAxSXĂ x AVVm‹mzxĂ‚ VÂŒX ‹z mxS†XA‡XV zŒ‹‡zΠSmxk z] 3 ‡X†‘mSX‡ ‹z uzÂ’X† Sz‡‹ SzÂŒxܠmX‡Â X“SXƒ‹mzxAu Â…ÂŒAum‹” wAxAkXwXx‹ m‡ X‡‡Xx‹mAuĂ 3lX ‡XS‹z†Ó‡ wAmx Xx‘m†zxwXx‹Au mwƒAS‹‡ ‡‹Xw ]†zw m‹‡ z]]mSX zƒX†A‹mzx‡ AxV ܠA‘XuĂ 3lX‡X SAx RX AVV†X‡‡XV ‹l†zÂŒkl †XS”Sumxk AxV XSzĂ°X]]mSmXxS” Ġzk†Aw‡ AxV R” ‡ŒR‡‹m‹Œ‹mxk ܠA‘Xu Â’m‹l Szx]X†XxSX SAuu‡ AxV z‹lX† SzuuARz†A‹mzx ‹zzu‡à x AVVm‹mzxĂ‚ 3 ‡X†‘mSX Ġz‘mVX†‡ SAx Œ‡X mx]z†wA‹mzx ‹XSlxzuzk” AƒƒumSA‹mzx‡ ‹z lXuƒ ‹lXm† SŒ‡‹zwX†‡ †XVÂŒSX ‹lXm† Xx‘m†zxwXx‹Au mwƒAS‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 3 1XSΠm‹” Ăą -†m‘AS” -†z‹XS‹mzx x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą mkm‹Au xSuŒ‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Wipro Ltd*

India

RobecoSAM Silver Class Indra Sistemas SA SK C&C Co Ltd

Spain South Korea

Number of companies in universe

41

Number of companies assessed by RobecoSAM in 2012

23

Assessed companies to total companies in universe (%)

56

Market capitalization of assessed companies to total market capitalization (%)

88

RobecoSAM Bronze Class Infosys Ltd** Teradata Corp

India

Results at sector level

United States

Runners up

Average

Best

Dimension

score

score

weight

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Economic

52%

78%

51%

Environmental

43%

85%

21%

As of October 31, 2012

Social

39%

65%

28%

Tata Consultancy Services Ltd

Dimension India

Total score average 47% best 73% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 57

Containers & Packaging

Driving forces wmV ‹lX Szx‹mxÂŒmxk kuzRAu VzÂ’x‹Œ†xĂ‚ ‹lX ‡XS‹z† ]ASX‡ ‘A†mzŒ‡ SlAuuXxkX‡Â mxSuÂŒVmxk ‡‹AkxA‹mxk z† VXSumxmxk VXwAxV mx VX‘XuzƒXV wA†tX‹‡Â lmklX† wA‹X†mAuĂ‚ XxX†k” AxV SAƒm‹Au Sz‡‹‡Â AxV ‡lm]‹‡ mx SumXx‹ AxV Szx‡ŒwX† VXwAxVĂ 3lX wA†tX‹‡ mx Â’lmSl ‹lX‡X SzwƒAxmX‡ zƒX†A‹X †XwAmx lmklu” SzwƒX‹m‹m‘XĂ‚ Â’m‹l ‡ŒR‡‹Ax‹mAu VzÂ’xÂ’A†V ĠX‡‡Œ†X zx Rz‹l ĠmSX‡ AxV zƒX†A‹mxk wA†kmx‡à 1zwX ƒuA”X†‡ ‡XXt ‹z ‡X‹ ‹lXw‡Xu‘X‡ AƒA†‹ ‹l†zÂŒkl mxxz‘A‹m‘X ĠzVÂŒS‹‡ AxV ‡zuŒ‹mzx‡ Â’lmuX wz‘mxk mx‹z XwX†kmxk wA†tX‹‡ ‹lA‹ z]]X† ‡ŒƒX†mz† k†z’‹l ƒz‹Xx‹mAuà ‹ ‹lX ‡AwX ‹mwXĂ‚ ‡‹AtXlzuVX†‡ A†X ƒuASmxk mxS†XA‡mxk mwƒz†‹AxSX zx Xx‘m†zxwXx‹Au AxV ‡zSmAu ƒX†]z†wAxSXĂ‚ A‡ †X]uXS‹XV mx Szx‘X†kmxk ƒŒRumS SzwwÂŒxmSA‹mzx ‡‹†A‹XkmX‡à XAVmxk SzwƒAxmX‡ mx‹Xk†A‹X ‹lX‡X ]AS‹z†‡ mx‹z ‹lXm† k†z’‹l ‡‹†A‹XkmX‡Â Szx‹mxÂŒAuu” wAtX mwĠz‘XwXx‹‡ AxV X]]XS‹m‘Xu” SzwwÂŒxmSA‹X ‹lXw ‹z ‹lXm† ‡‹AtXlzuVX†‡à %‘X†AuuĂ‚ ‹lX ‡XS‹z† Szx‹mxÂŒX‡ ‹z RX SlA†AS‹X†m—XV R” A ܠXxV ‹zÂ’A†V‡ mwĠz‘XV XxX†k” AxV †X‡zΠSX X]]mSmXxS” mxxz‘A‹m‘X ‡zuŒ‹mzx‡ AxV ‹lX ‡‹†Xxk‹lXxmxk z] SzwƒAxmX‡Ó †XƒŒ‹A‹mzx ‹l†zÂŒkl k†XA‹X† ܠAx‡ƒA†XxS” AxV mx‘zu‘XwXx‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1zSmAu 0Xƒz†‹mxk Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics Number of companies in universe

20

Sonoco Products Co*

United States

Number of companies assessed by RobecoSAM in 2012

12

MeadWestvaco Corp

United States

Assessed companies to total companies in universe (%)

60

RobecoSAM Gold Class

Market capitalization of assessed

RobecoSAM Silver Class Ball Corp**

United States

companies to total market capitalization (%)

77

RobecoSAM Bronze Class Amcor Ltd � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Australia

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

69%

90%

38%

Environmental

57%

87%

31%

Social

55%

79%

31%

As of October 31, 2012

Total score average 61% best 83% 0

58 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Diversified Industrials

Driving forces u‹lzÂŒkl ‡zÂŒxV zƒX†A‹mzxAu wAxAkXwXx‹ ‹lA‹ Szx‡mVX†‡ Xx‘m†zxwXx‹Au ]AS‹z†‡ m‡ A tX” SzxSX†x ]z† ‹lX Vm‘X†‡m]mXV mxVŒ‡‹†mAu‡ ‡XS‹z†Â ‹lX mxVÂŒÂ‡Â‹Â†Â”Ă“Â‡ wAmx SlAuuXxkX‡ AxV zƒƒz†‹Œxm‹mX‡ A†X ĠzVÂŒS‹ð†XuA‹XVĂ wƒz†‹Ax‹ m‡‡ŒX‡ mxSuÂŒVX X]]mSmXxS” ‡A]X‹” lA—A†VzŒ‡ Szx‹Xx‹ AxV Vm‡ƒz‡Au AxV †XS”Sumxk zƒ‹mzx‡ ]z† ĠzVÂŒS‹‡ ‹lA‹ lA‘X †XASlXV ‹lX XxV z] ‹lXm† um]X‡ƒAxĂ xxz‘A‹mzx AxV ‹lX mx‹Xk†A‹mzx z] Xx‘m†zxwXx‹Au Szx‡mVX†A‹mzx‡ mx‹z ĠzVÂŒS‹ VX‘XuzƒwXx‹ A†X tX” S†m‹X†mAĂ‚ A‡ zŒ‹umxXV R” ‹lX SzĂ° X‡mkx †AwXÂ’z†tĂ x XÂ…ÂŒmƒwXx‹ wA†tX‹‡Â AVV†X‡‡mxk SŒ‡‹zwX†‡Ó SA†Rzx Szx‡‹†Amx‹‡ m‡ Ax mwƒz†‹Ax‹ ]AS‹z† mx ĠzVÂŒS‹ VX‘XuzƒwXx‹à m‘X†‡m]mXV mxVŒ‡‹†mAu‡ ‹”ƒmSAuu” lA‘X A kuzRAu ĠX‡XxSX ‹lA‹ mxSuÂŒVX‡ XwX†kmxk wA†tX‹‡à 3z wAxAkX ‹lX Vm‘X†‡X SÂŒu‹Œ†Au RAStk†zÂŒxV z] ‹lXm† Â’z†t]z†SXĂ‚ SzwƒAxmX‡ wŒ‡‹ ]zSŒ‡ zx Ġzwz‹mxk Szwwzx Sz†ƒz†A‹X ‘AuÂŒX‡Â mxSuÂŒVmxk ƒzumSmX‡ AxV SzwƒumAxSX ‡”‡‹Xw‡ ‹z ĠX‘Xx‹ Sz††Œƒ‹mzx AxV muuXkAu wA†tX‹ ĠAS‹mSX‡à XAu‹l Ă— ‡A]X‹” ‡‹AxVA†V‡ wŒ‡‹ RX wX‹ A‹ Auu zƒX†A‹mzxAu uX‘Xu‡à 1Œƒƒu” SlAmx‡ X“‹XxVmxk ‹z XwX†kmxk wA†tX‹‡ mxS†XA‡X SzwƒAxmX‡Ó ƒz‹Xx‹mAu X“ƒz‡Œ†X ‹z lÂŒwAx †mkl‹‡ ARŒ‡X‡à mxAuu” ‡‹AtXlzuVX† XxkAkXwXx‹ m‡ A tX” SzxܠmRŒ‹z† ‹z uzxkð‹X†w ‡ŒSSX‡‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 1ܠA‹Xk” ]z† wX†kmxk "A†tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą :A‹X† 0XuA‹XV 0m‡t‡ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â

Sector statistics

RobecoSAM Gold Class Siemens AG*/**

Germany

Runners up

Number of companies in universe

36

Number of companies assessed by RobecoSAM in 2012

20

Assessed companies to total companies in universe (%)

56

3M Co

United States

Market capitalization of assessed

Eaton Corp

United States

companies to total market capitalization (%)

General Electric Co

United States

Toshiba Corp � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Japan

80

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

50%

94%

38%

Environmental

41%

96%

31%

Social

47%

88%

31%

As of October 31, 2012

Total score average 46% best 92% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 59

Durable Household Products

Driving forces xxz‘A‹mzxĂ‚ Â…ÂŒAum‹” AxV R†AxVmxk A†X tX” Vm]]X†Xx‹mA‹mxk ]AS‹z†‡ ]z† SzwƒAxmX‡ mx ‹lm‡ ‡XS‹z†à x AVVm‹mzxĂ‚ uXAVmxk SzwƒAxmX‡ AS‹m‘Xu” wAxAkX ‡A]X‹” AxV Xx‘m†zxwXx‹Au m‡‡ŒX‡ ‹l†zÂŒklzŒ‹ ‹lX ĠzVÂŒS‹ um]X S”SuXĂ 3AtXĂ°RASt kÂŒA†Ax‹XX‡ ]z† Œ‡XV ĠzVÂŒS‹‡ AxV SŒ‡‹zwX†ðz†mXx‹XV ‡X†‘mSX‡ z]]X† mx‹X†X‡‹mxk zƒƒz†‹Œxm‹mX‡ ]†zw A RŒ‡mxX‡‡ AxV Xx‘m†zxwXx‹Au ƒX†‡ƒXS‹m‘XĂ ÂŒÂ†Â‹lX†Â Szx‡ŒwX†‡ mxS†XA‡mxku” VXwAxV ĠzVÂŒS‹‡ ‹Amuz†XV ‹z ‹lXm† ‡ƒXSm]mS xXXV‡Â mxSuÂŒVmxk A lmkl uX‘Xu z] Szw]z†‹ AxV AVAƒ‹ARmum‹” A‡ Â’Xuu A‡ ܠAx‡ƒA†Xx‹ ĠzVÂŒS‹ mx]z†wA‹mzx AxV uARXumxkà †AxV‡ ‹lA‹ ‡ŒSSX‡‡]ÂŒuu” wAxAkX ‹z mx‹Xk†A‹X ‹lX ‡lm]‹ ‹zÂ’A†V ‡Œ‡‹AmxARuX Szx‡Œwƒ‹mzx AxV z]]X† A‹‹†AS‹m‘X ‡zuŒ‹mzx‡ mx ‹lA‹ †X‡ƒXS‹ wA” Au‡z XwX†kX A‡ uXAVX†‡ mx ‹X†w‡ z] RŒ‡mxX‡‡ wzVXu mxxz‘A‹mzxĂ VVm‹mzxAu uzxkð‹X†w SlAuuXxkX‡ A†m‡X ]†zw mx‹Xk†A‹mxk ‡ŒƒƒumX†‡ mx‹z ‹lX ĠzVÂŒS‹mzx SlAmxĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1zSmAu 0Xƒz†‹mxk Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Electrolux AB*

Sweden

RobecoSAM Bronze Class Stanley Black & Decker Inc** Woongjin Coway Co Ltd � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

United States South Korea

Number of companies in universe

17

Number of companies assessed by RobecoSAM in 2012

13

Assessed companies to total companies in universe (%)

76

Market capitalization of assessed companies to total market capitalization (%)

81

Results at sector level

As of October 31, 2012

Dimension

Average

Best

Dimension

score

score

weight

Economic

52%

85%

46%

Environmental

42%

85%

26%

Social

43%

68%

28%

Total score average 47% best 79% 0

60 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Electric Components & Equipment

Driving forces ‡ Ġz‘mVX†‡ z] lmklð‹XSl ĠzVÂŒS‹‡Â SzwƒAxmX‡ mx ‹lm‡ ‡XS‹z† †Xu” lXA‘mu” zx ‹lXm† Xwƒuz”XX‡Ó ‡tmuu‡Â Â…ÂŒAum]mSA‹mzx‡ AxV ܠAmxmxkĂ zwƒAxmX‡ Â’lz‡X ‹XSlxzuzkmX‡ AxV ĠzVÂŒS‹‡ A†X Œ‡XV mx ‹lX VX]Xx‡X ‡XS‹z† ‡lzÂŒuV R†ASX ]z† mxS†XA‡XV †XƒŒ‹A‹mzxAu †m‡t‡à x ‹lX wXVmÂŒw ‹X†wĂ‚ SzwƒAxmX‡ ‡X†‘mxk ‹lX SzwwÂŒxmSA‹mzx‡ AxV mx]z†wA‹mzx ‹XSlxzuzk” ‡XS‹z†‡ A†X X“ƒXS‹XV ‹z RXxX]m‹ ]†zw RAuAxSXV k†z’‹l mx ‹lX‡X wA†tX‹‡Â A]‹X† ‹lX ‡mkxm]mSAx‹ z‘X†SAƒASm‹” RÂŒmu‹ Œƒ z‘X† ‹lX ƒA‡‹ ”XA†‡ lA‡ RXXx AR‡z†RXVĂ V‘AxSXV mxVŒ‡‹†mAu XÂ…ÂŒmƒwXx‹ Ġz‘mVX†‡ wŒ‡‹ Au‡z ƒuA” A tX” †zuX mx VX‘Xuzƒmxk AxV Ġz‘mVmxk xXÂ’ ĠzVÂŒS‹‡ AxV ‹XSlxzuzkmX‡ ‹lA‹ ]zSŒ‡ zx XxX†k” X]]mSmXxS” A‡ Â’Xuu A‡ ‘A†mzŒ‡ A‡ƒXS‹‡ z] Xx‘m†zxwXx‹Au Ġz‹XS‹mzx ‡ŒSl A‡ ‹X‡‹mxkĂ‚ wXA‡Œ†XwXx‹ AxV ‹lX †Xwz‘Au z] ƒzuuŒ‹Ax‹‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 1ܠA‹Xk” ]z† wX†kmxk "A†tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Lite-On Technology Corp*

Taiwan

RobecoSAM Bronze Class Samsung Electro-Mechanics Co Ltd Schneider Electric SA

South Korea

Number of companies in universe

44

Number of companies assessed by RobecoSAM in 2012

25

Assessed companies to total companies in universe (%)

57

Market capitalization of assessed

France

companies to total market capitalization (%)

Fuji Electric Co Ltd

Japan

Results at sector level

Ibiden Co Ltd

Japan

81

Runners up

LG Innotek Co Ltd** � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

South Korea

Dimension

Average

Best

Dimension

score

score

weight

Economic

49%

85%

38%

Environmental

43%

90%

31%

Social

46%

89%

31%

Total score average 46% best 87% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 61

Electricity

Driving forces 3lX †AƒmV VX‘XuzƒwXx‹ z] †XxXÂ’ARuX‡ mx Â’X‡‹X†x wA†tX‹‡ Â’m‹lmx ‹lX uA‡‹ ]XÂ’ ”XA†‡ m‡ RXkmxxmxk ‹z lA‘X A Szx‡mVX†ARuX mwƒAS‹ zx XxX†k” wA†tX‹‡à zwƒAxmX‡ wŒ‡‹ VXAu Â’m‹l ‹lX mx‹Xk†A‹mzx z] ‹lX‡X xXÂ’ ‡zΠSX‡ mx‹z ‹lX XxX†k” wm“ ‹lXm† ‡ŒR‡XÂ…ÂŒXx‹ mwƒAS‹ zx XuXSܠmSm‹” ĠmSX‡ AxV ‹lX mxS†XA‡mxku” mx‹X†wm‹‹Xx‹ Œ‡X z] ‹lX ‹lX†wAu ƒuAx‹‡ Â’m‹lmx ‹lX Szx‹X“‹ z] Â’XAt XuXSܠmSm‹” VXwAxVĂ xz†wzŒ‡ X]]z†‹‡ A†X Au‡z †XÂ…ÂŒm†XV ‹z VX‘Xuzƒ AxV †XƒuASX Ax Akmxk k†mVĂ "z†Xz‘X†Â mx]†A‡‹†ŒS‹Œ†X VX‘XuzƒwXx‹‡ wŒ‡‹ ]AS‹z† mx ‡‹AtXlzuVX†‡Ó SzxSX†x‡Â Â’lmSl SAx VXuA” ‹lX Ġzk†X‡‡ z] A ĠzsXS‹à 3lX AŒ‡‹X†m‹” wXA‡Œ†X‡ R†zÂŒkl‹ ARzŒ‹ R” ‹lX ]mxAxSmAu S†m‡m‡ Â’muu Au‡z wAtX m‹ wz†X mwƒz†‹Ax‹ ]z† SzwƒAxmX‡ ‹z z]]X† ‹lXm† SumXx‹‡ X]]mSmXxS” XxlAxSXwXx‹‡ AxV zƒƒz†‹Œxm‹mX‡ ‹z SŒ‹ ‹lXm† XxX†k” Szx‡Œwƒ‹mzx Â’lmuX kXxX†A‹mxk AVVm‹mzxAu †X‘XxÂŒX‡à x XwX†kmxk wA†tX‹‡Â mxVŒ‡‹†mAum—A‹mzx AxV ΠRAxm—A‹mzx mwƒu” A lÂŒkX xXXV ]z† AVVm‹mzxAu kXxX†A‹mzx SAƒASm‹”Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą "A†tX‹ %ƒƒz†‹Œxm‹mX‡ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą uXSܠmSm‹” XxX†A‹mzx Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą 3†Ax‡wm‡‡mzx Ă— m‡‹†mRŒ‹mzx 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Iberdrola SA* EDP - Energias de Portugal SA Terna Rete Elettrica Nazionale SpA

Number of companies assessed by RobecoSAM in 2012

76

Portugal

Assessed companies to total companies in universe (%)

59

Italy

Endesa SA Enel SpA Entergy Corp** Red Electrica Corp SA

Results at sector level Australia Spain

E.ON AG Fortum OYJ GDF Suez

United States Spain

Germany

United States Germany

Sempra Energy

United States

Xcel Energy Inc

United States

62 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

Dimension

score

weight

Economic

65%

92%

37%

Environmental

54%

89%

34%

Social

63%

93%

29%

Total score

France

Public Service Enterprise Group Inc

As of October 31, 2012

Best

score

Finland United States

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Average

Brazil

PG&E Corp RWE AG

Dimension

Italy

Runners up CPFL Energia SA

83

Brazil

RobecoSAM Bronze Class AGL Energy Ltd

Market capitalization of assessed companies to total market capitalization (%)

RobecoSAM Silver Class Cia Energetica de Minas Gerais - CEMIG

129

Spain

average 61% best 87% 0

25

50

75

100

Electronic Equipment

Driving forces %xX z] ‹lX wAmx ]zSŒ‡X‡ z] XuXSܠzxmS XÂ…ÂŒmƒwXx‹ Ġz‘mVX†‡ m‡ ‹z XxARuX ‹lXm† SŒ‡‹zwX†‡ ‹z mwĠz‘X X]]mSmXxSӈ xÂŒwRX† z] ĠzVÂŒS‹‡ ]†zw ‹lX XuXSܠzxmS XÂ…ÂŒmƒwXx‹ ‡XS‹z† lA‘X ‡ƒXSm]mS ‡Œ‡‹AmxARmum‹” AƒƒumSA‹mzx‡à -†z‘mVX†‡ z] Szxܠzu AxV AŒ‹zwA‹mzx ‡zuŒ‹mzx‡Â ]z† X“AwƒuXĂ‚ SAx ‹Aƒ zƒƒz†‹Œxm‹mX‡ †X‡Œu‹mxk ]†zw SŒ‡‹zwX†‡Ó VXwAxV ]z† mwĠz‘XV XxX†k” AxV SA†Rzx X]]mSmXxSӈ x AVVm‹mzxĂ‚ mxS†XA‡mxk ‡A]X‹” AxV Â…ÂŒAum‹” SzxSX†x‡ ĠX‡Xx‹ zƒƒz†‹Œxm‹mX‡ mx ‹lX A†XA z] Szxܠzu‡Â ‡Xx‡z†‡ AxV ‹X‡‹mxkĂ 0XkÂŒuA‹z†” †XÂ…ÂŒm†XwXx‹‡ kz‘X†xmxk ‹lX Ġz‹XS‹mzx z] Am†Â ‡zmu AxV Â’A‹X† ‡”‡‹Xw‡ mx VX‘XuzƒXV wA†tX‹‡ A‡ Â’Xuu A‡ mx †AƒmVu” k†zÂ’mxk XwX†kmxk wA†tX‹‡ A†X V†m‘mxk ‹lX ‹X‡‹mxk XÂ…ÂŒmƒwXx‹Â wXA‡Œ†XwXx‹ AxV Szxܠzu ‹XSlxzuzk” AxV ƒzuuŒ‹Ax‹ †Xwz‘Au XÂ…ÂŒmƒwXx‹ wA†tX‹‡à m‘Xx ‹lX wz‡‹u” zumkzƒzum‡‹mS wA†tX‹ ‡‹†ŒS‹Œ†X‡Â AVlX†XxSX ‹z Ax‹m‹†Œ‡‹ †XkÂŒuA‹mzx‡ m‡ Ax mwƒz†‹Ax‹ m‡‡ŒXĂ ÂŒÂ†Â‹lX†wz†XĂ‚ A‡ lmklð‹XSl Ġz‘mVX†‡Â SzwƒAxmX‡ mx ‹lm‡ ‡XS‹z† †Xu” lXA‘mu” zx ‹lX txzÂ’uXVkXĂ‚ Â…ÂŒAum]mSA‹mzx AxV ܠAmxmxk z] ‹lXm† Xwƒuz”XX‡ ]z† ‹lXm† RŒ‡mxX‡‡ ‡ŒSSX‡‡à m‘Xx ‹lX uzxkð‹X†w xA‹Œ†X z] › †XuA‹mzx‡lmÂƒÂ‡Ă‚ ‹zzu‡ ‹z wzxm‹z† ‹lX Â…ÂŒAum‹” z] SumXx‹ wAxAkXwXx‹ A†X Au‡z mwƒz†‹Ax‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Delta Electronics Inc*

Taiwan

RobecoSAM Silver Class Samsung SDI Co Ltd

South Korea

29

Number of companies assessed by RobecoSAM in 2012

17

Assessed companies to total companies in universe (%)

59

Market capitalization of assessed companies to total market capitalization (%)

Runners up Hitachi Ltd

Japan

Yokogawa Electric Corp**

Japan

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Number of companies in universe

82

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

46%

85%

39%

Environmental

36%

93%

31%

Social

44%

84%

30%

As of October 31, 2012

Total score average 43% best 87% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 63

Financial Services

Driving forces 3lX ]mxAxSmAu ‡X†‘mSX‡ ‡XS‹z† Szx‡m‡‹‡ z] A lX‹X†zkXxXzŒ‡ k†zŒƒ z] SzwƒAxmX‡ ‡ŒSl A‡ ‡‹zSt X“SlAxkX‡Â A‡‡X‹ wAxAkX†‡ AxV mx‘X‡‹wXx‹ lzuVmxk‡à SSzÂŒx‹ARmum‹” AxV uXAVX†‡lmƒ A†X S†ŒSmAu ]z† RÂŒmuVmxk A SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ VlX†XxSX ‹z mx‹X†xA‹mzxAu RXÂ‡Â‹Ă°ÂƒÂ†AS‹mSX ‡‹AxVA†V‡ mx Sz†ƒz†A‹X kz‘X†xAxSXĂ‚ †m‡t wAxAkXwXx‹ AxV SzwƒumAxSX m‡ X‡‡Xx‹mAuĂ uzRAum—A‹mzxĂ‚ †XkÂŒuA‹mzxĂ‚ VXwzk†AƒlmS ‡lm]‹‡ AxV SumwA‹X SlAxkX Â’muu Szx‹mxÂŒX ‹z mx]uÂŒXxSX ‹lX RŒ‡mxX‡‡ Xx‘m†zxwXx‹à XAVmxk SzwƒAxmX‡ mx‹Xk†A‹X Xx‘m†zxwXx‹Au AxV ‡zSmAu ]AS‹z†‡ mx‹z ‹lXm† uzxkð‹X†w ‡‹†A‹XkmX‡ AxV ƒX†]z†wAxSX †X‘mX’‡à wÂŒu‹mð‡‹AtXlzuVX†ð V†m‘Xx Aƒƒ†zASl ‹z VX‘Xuzƒmxk mxxz‘A‹m‘X AxV ƒ†ŒVXx‹ ]mxAxSmAu ‡X†‘mSX‡ AxV ĠzVÂŒS‹‡ m‡ X‡‡Xx‹mAuĂ "z‹m‘A‹XVĂ‚ lmklu” XVÂŒSA‹XV AxV X“ƒX†mXxSXV Xwƒuz”XX‡ A†X S†ŒSmAu ‹z VX‘Xuzƒmxk ‡ŒSl ]mxAxSmAu ‡X†‘mSX‡ AxV ĠzVÂŒS‹‡ A‡ Â’Xuu A‡ mx A‹‹†AS‹mxk AxV †X‹Amxmxk SumXx‹‡à “AwƒuX‡ mxSuÂŒVX ‘Xx‹Œ†X SAƒm‹Au mx‘X‡‹wXx‹‡ ]zSŒ‡mxk zx xXÂ’ ‹XSlxzuzkmX‡ ‹lA‹ Ġzwz‹X ‹lX ܠAx‡m‹mzx ‹z A uzÂ’Ă° SA†Rzx XSzxzw” z† mwĠz‘X †X‡zΠSX X]]mSmXxS” A‡ Â’Xuu A‡ ‹lX mx‹Xk†A‹mzx z] Xx‘m†zxwXx‹Au AxV ‡zSmAu Szx‡mVX†A‹mzx‡ mx‹z SzwƒAxmX‡Ó ‡X†‘mSX ƒz†‹]zumz‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą x‹mĂ°S†mwX -zumSӐ"XA‡Œ†X‡ Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą Œ‡mxX‡‡ 0m‡t‡ Ă— %ƒƒz†‹Œxm‹mX‡ Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą zxܠz‘X†‡mAu ‡‡ŒX‡Â muXwwA‡ mx XxVmxk ĂŞ mxAxSmxk Ăą mxAxSmAu xSuŒ‡mzx Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Itausa - Investimentos Itau SA*

Brazil

Runners up 3i Group PLC

United Kingdom

African Bank Investments Ltd

South Africa

Daewoo Securities Co Ltd

South Korea

Daiwa Securities Group Inc Deutsche Boerse AG

Japan

128

Number of companies assessed by RobecoSAM in 2012

70

Assessed companies to total companies in universe (%)

55

Market capitalization of assessed companies to total market capitalization (%)

84

Results at sector level

Germany

Grupo de Inversiones Suramericana SA

Colombia

Hong Kong Exchanges and Clearing Ltd

Hong Kong

Dimension

Average

Best

Dimension

score

score

weight

Investec PLC

United Kingdom

Economic

53%

86%

41%

London Stock Exchange Group PLC**

United Kingdom

Environmental

27%

69%

24%

Man Group PLC

United Kingdom

Social

32%

79%

35%

Morgan Stanley

United States

Northern Trust Corp

United States

NYSE Euronext

United States

Provident Financial PLC Redecard SA Samsung Securities Co Ltd State Street Corp Woori Investment & Securities Co Ltd � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

64 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

Total score

United Kingdom

average 39%

Brazil

best 80%

South Korea United States South Korea

0

25

50

75

100

Fixed Line Communications

Driving forces 3lX ]m“XVĂ°umxX ‹XuXSzwwÂŒxmSA‹mzx‡ mxVŒ‡‹†” zƒX†A‹X‡ mx A lmklu” SzwƒX‹m‹m‘X Xx‘m†zxwXx‹ SlA†AS‹X†m—XV R” A Szx‹mxÂŒzŒ‡u” RuŒ††XV RzÂŒxVA†” RX‹’XXx ]m“XVĂ°umxX AxV Â’m†XuX‡‡ ‹XSlxzuzkӈ 3lX mxVŒ‡‹†” SAx ‡mkxm]mSAx‹u” mwĠz‘X Â’z†t lARm‹‡ AxV um]X‡‹”uX‡Â †X‡Œu‹mxk mx A †XVÂŒS‹mzx z] ܠA‘Xu AxV ܠAx‡ƒz†‹A‹mzx AxV ‹lXm† Sz††X‡ƒzxVmxk Xx‘m†zxwXx‹Au AxV ‡zSmAu mwƒAS‹‡à x z†VX† ‹z †XwAmx SzwƒX‹m‹m‘X mx A wA†tX‹ ‡ŒRsXS‹ ‹z †AƒmV ‹XSlxzuzkmSAu SlAxkXĂ‚ SzwƒAxmX‡ Â’muu xXXV ‹z AVzƒ‹ ]uX“mRuX RŒ‡mxX‡‡ wzVXu‡ ‹lA‹ XxARuX ‹lXw ‹z mx‹Xk†A‹X xXÂ’Ă° kXxX†A‹mzx ‹XSlxzuzkmX‡ AxV ‡X†‘mSX‡Â ‡ŒSl A‡ ‘zmSXĂ°z‘X†ð -Ă‚ 39 AxV x‹X†xX‹ ‡X†‘mSX‡ mx‹z ‹lXm† z]]X†mxkĂ A†X]ÂŒu lAxVumxk z] VA‹A m‡ X‡‡Xx‹mAu A‡ mx‡Œ]]mSmXx‹ VA‹ARA‡X AxV xX‹’z†t Ġz‹XS‹mzx SzÂŒuV X“ƒz‡X SzwƒAxmX‡ ‹z †XƒŒ‹A‹mzxAu AxV umARmum‹” †m‡t‡Â A‡ mx SA‡X z] ÂŒxAŒ‹lz†m—XV ASSX‡‡Â ]z† mx‡‹AxSXĂ xX†k” X]]mSmXxS” AxV ‡‹A‹XĂ°z]ð‹lXĂ°A†‹ mx]†A‡‹†ŒS‹Œ†X †XwAmx ‹lX ‡XS‹z†Ó‡ tX” Xx‘m†zxwXx‹Au SlAuuXxkX‡à -†z‘mVX†‡ z] uzÂ’Ă°Sz‡‹ ‹XuXSzwwÂŒxmSA‹mzx ‡zuŒ‹mzx‡ ‹lA‹ lXuƒ †XVÂŒSX ‹lX Vmkm‹Au Vm‘mVX AxV ƒŒ†‡ŒX Ax XwX†kmxk wA†tX‹‡ ‡‹†A‹Xk” A†X zƒ‹mwAuu” ƒz‡m‹mzxXV ]z† ‡Œ‡‹AmxARuX †X‘XxÂŒX k†z’‹lĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą -†m‘AS” -†z‹XS‹mzx Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą mkm‹Au xSuŒ‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą wƒAS‹ z] 3XuXSzwwÂŒxmSA‹mzx 1X†‘mSX‡ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡

Sustainability leaders 2013

â â

RobecoSAM Gold Class KT Corp*

South Korea

RobecoSAM Silver Class BT Group PLC Chunghwa Telecom Co Ltd Koninklijke KPN NV

â

Sector statistics

Portugal Telecom SGPS SA Telecom Italia SpA

United Kingdom Taiwan

Telefonica SA � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

44

Number of companies assessed by RobecoSAM in 2012

29

Assessed companies to total companies in universe (%)

66

Market capitalization of assessed companies to total market capitalization (%)

89

Netherlands Portugal

Results at sector level

Italy

RobecoSAM Bronze Class Swisscom AG**

Number of companies in universe

Dimension

Average

Best

Dimension

score

score

weight

Economic

73%

95%

45%

Environmental

61%

94%

19%

Social

68%

93%

36%

Switzerland Spain

As of October 31, 2012

Total score average 69% best 94% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 65

Food & Drug Retailers

Driving forces 3lX ]zzV Ă— V†Œk †X‹Amu ‡ƒASX lA‡ AuÂ’A”‡ RXXx SlA†AS‹X†m—XV R” mx‹Xx‡X SzwƒX‹m‹mzx ]z† wA†tX‹ ‡lA†Xà ‡ A †X‡Œu‹Â ‹lX mxVŒ‡‹†” lA‡ Szx‡zumVA‹XV z‘X† ‹lX ƒA‡‹ ]XÂ’ ”XA†‡Â Â’m‹l mx‹X†X‡‹ mx "Ă— Szx‹mxÂŒzŒ‡u” lmklĂ 3lX ‡lm]‹ ‹zÂ’A†V XA‹mxk A‹ lzwX ‡lzÂŒuV Szx‹mxÂŒX ‹z ]A‘z† ‹lz‡X ‹lA‹ lA‘X SAƒm‹Aum—XV zx ‹lm‡ ܠXxV Â’m‹l X“ƒAxVXV z]]X†mxk‡ z] Ġm‘A‹X uARXu z† ‡‹z†X R†AxV‡ ‹lA‹ SA††” lmklX† wA†kmx‡ ‹lAx R†AxVXV ĠzVÂŒS‹‡à 3lX lXAu‹l AxV Â’XuuxX‡‡ ܠXxV m‡ Au‡z SuXA†u” X‘mVXx‹ A‡ ܠAVm‹mzxAu ]zzV AxV V†Œk †X‹AmuX†‡ mxS†XA‡X ‹lXm† X“ƒz‡Œ†X ‹z xA‹Œ†Au AxV z†kAxmS ĠzVÂŒS‹‡ AxV lXAu‹lmX† ]z†wÂŒuA‹mzx‡à x‹X†xA‹mzxAu ‡zΠSmxk lA‡ mxS†XA‡XV AxV ]zzV †X‹AmuX†‡ xXXV ‹z mwĠz‘X ‹lX X]]mSmXxS” AxV ܠAx‡ƒA†XxS” z] ‹lXm† ‡Œƒƒu” SlAmxÂ‡Ă Â†ÂŒk †X‹AmuX†‡ ‡lzÂŒuV RXSzwX wz†X †XuX‘Ax‹ mx wAxAkmxk †m‡mxk lXAu‹lSA†X SzÂ‡Â‹Â‡Ăƒ ‡X‘X†Au tX” V†Œk ƒA‹Xx‹‡ A†X ‡X‹ ‹z X“ƒm†X AxV A Â’A‘X z] kXxX†mS V†Œk‡ m‡ X“ƒXS‹XV ‹z lm‹ ‹lX wA†tX‹ z‘X† ‹lX xX“‹ ]XÂ’ ”XA†‡Â †X‡Œu‹mxk mx ‡mkxm]mSAx‹ Sz‡‹ ‡A‘mxk‡à zx‡ŒwX†‡ SAx Au‡z RXxX]m‹ ]†zw V†Œk †X‹AmuX†‡Ó Szx‘XxmXx‹ uzSA‹mzx‡ AxV mxð‡‹z†X SumxmS‡Â Â’lmSl z]]X† A]]z†VARuX ASSX‡‡ ‹z RA‡mS SA†XĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą XAu‹l Ă— #Œ‹†m‹mzx Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -AStAkmxk Ăą 0AÂ’ "A‹X†mAu 1zΠSmxk 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹”

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class J Sainsbury PLC*

United Kingdom

RobecoSAM Silver Class Woolworths Ltd

Australia

Kesko OYJ

52

Number of companies assessed by RobecoSAM in 2012

28

Assessed companies to total companies in universe (%)

54

Market capitalization of assessed companies to total market capitalization (%)

RobecoSAM Bronze Class Casino Guichard Perrachon SA**

Number of companies in universe

80

France Finland

Results at sector level

Runners up Carrefour SA Delhaize Group SA Koninklijke Ahold NV � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

France

Dimension

Average

Best

Dimension

score

score

weight

Economic

65%

85%

37%

Environmental

49%

78%

32%

Social

52%

78%

31%

Belgium Netherlands

As of October 31, 2012

Total score average 56% best 79% 0

66 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Food Producers

Driving forces †z’‹l mx ‹lX ]zzV ‡XS‹z† Â’muu RX V†m‘Xx R” XwX†kmxk wA†tX‹ Szx‡Œwƒ‹mzxĂ‚ ĠzVÂŒS‹ mxxz‘A‹mzx ]zSŒ‡mxk zx lXAu‹l AxV Â’XuuxX‡‡ AxV †m‡mxk VXwAxV ]z† Szx‘XxmXxSX ]zzV mx ‹lX VX‘XuzƒXV Â’z†uVĂ XAu‹lĂ‚ Â’XuuxX‡‡ AxV xŒ‹†m‹mzx lA‘X XwX†kXV A‡ wAsz† k†z’‹l SA‹Xkz†mX‡ AxV Â’muu †XwAmx mx ‹lX ‡ƒz‹umkl‹ ]z† ]zzV wAxÂŒ]AS‹Œ†X†‡ A‡ wz†X AxV wz†X Szx‡ŒwX†‡ RXSzwX AÂ’A†X z] ‹lX †XuA‹mzx‡lmƒ RX‹’XXx VmX‹ AxV lXAu‹lĂ 1ܠzxk RAuAxSX ‡lXX‹‡ AS†z‡‡ ‹lX mxVŒ‡‹†” lA‘X †X‡Œu‹XV mx lXmkl‹XxXV "Ă— AS‹m‘m‹” AxV ‡lzÂŒuV AuuzÂ’ ]z† ]Œ†‹lX† mxVŒ‡‹†” Szx‡zumVA‹mzxĂ 3lX ‡XS‹z†Ó‡ wAmx SlAuuXxkX‡ mxSuÂŒVX †m‡mxk †AÂ’ wA‹X†mAu ĠmSX‡Â Â’lmSl lA‘X ƒŒ‹ ĠX‡‡Œ†X zx ‘zuÂŒwX‡ AxV wA†kmx‡à ]]XS‹m‘X ƒAStAkmxk AxV ‡Œƒƒu” SlAmx wAxAkXwXx‹ SAx lXuƒ †XVÂŒSX Sz‡‹‡ A‡ Â’Xuu A‡ Xx‡Œ†X ]zzV ‡A]X‹” A tX” SzxSX†x ‹lA‹ lmklumkl‹‡ ‹lX xXXV ]z† Â…ÂŒAum‹” Szxܠzu AxV ܠAx‡ƒA†XxS” Auzxk ‹lX ‡Œƒƒu” SlAmxĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą XAu‹l Ă— #Œ‹†m‹mzx Ăą 1ܠA‹Xk” ]z† wX†kmxk "A†tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0AÂ’ "A‹X†mAu 1zΠSmxk Ăą :A‹X† 0XuA‹XV 0m‡t‡ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Unilever NV*

Netherlands

RobecoSAM Silver Class Danone SA Nestle SA

France Switzerland

102

Number of companies assessed by RobecoSAM in 2012

53

Assessed companies to total companies in universe (%)

52

Market capitalization of assessed companies to total market capitalization (%)

86

RobecoSAM Bronze Class Campbell Soup Co

United States

ConAgra Foods Inc

United States

HJ Heinz Co

United States

Results at sector level Dimension

Runners up Ajinomoto Co Inc** BRF-Brasil Foods SA General Mills Inc Grupo Nutresa SA

Dimension

score

weight

Economic

50%

91%

40%

Brazil

Environmental

41%

89%

29%

Social

44%

82%

31%

United States Colombia United States

Hillshire Brands Co

United States

Hormel Foods Corp

United States

Kraft Foods Inc

United States

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Best

score Japan

Hershey Co

Nong Shim Co Ltd

Average

Total score average 46% best 86%

South Korea 0

25

50

75

100

As of October 31, 2012

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 67

Forestry & Paper

Driving forces 3lX ]z†X‡‹†” Ă— ƒAƒX† ‡XS‹z† SzwĠm‡X‡ zÂ’xX†‡ AxV zƒX†A‹z†‡ z] ‹mwRX† ܠAS‹‡Â ]z†X‡‹ ܠXX xŒ†‡X†mX‡ AxV ‡AÂ’wmuu‡ A‡ Â’Xuu A‡ ĠzVÂŒSX†‡Â Szx‘X†‹X†‡Â wX†SlAx‹‡ AxV Vm‡‹†mRŒ‹z†‡ z] Auu k†AVX‡ z] ƒAƒX†à 3lX wAmx SlAuuXxkX Szx‡m‡‹‡ z] Xx‡Œ†mxk †X‡ƒzx‡mRuX wAxAkXwXx‹ z] ]z†X‡‹‡ AxV ƒuAx‹A‹mzx‡ AxV ‹lX †X‡ƒzx‡mRuX ‡zΠSmxk z] Â’zzV ]mRX†‡à X†‹m]mSA‹mzx AxV SlAmx z] SŒ‡‹zV” ‡”‡‹Xw‡ ƒuA” Ax mwƒz†‹Ax‹ †zuX mx kAmxmxk SŒ‡‹zwX†‡Ó ‹†Œ‡‹ AxV uz”Au‹”à 3lX Œ‡X z] kXxX‹mSAuu” wzVm]mXV z†kAxm‡w‡ m‡ mxS†XA‡mxk AxV ƒz‡X‡ xXÂ’ SlAuuXxkX‡ ‹lA‹ wŒ‡‹ RX AVV†X‡‡XV ‹z wmxmwm—X ‹lX †m‡t z] ]Œ‹Œ†X umARmum‹mX‡à ‡ ƒAƒX† RXSzwX‡ Ax X‘Xx wz†X SŒ‡‹zwm—XV ĠzVÂŒS‹ ]ÂŒu]muumxk SumXxÂ‹Ă°Â‡ÂƒXSm]mS xXXV‡Â ĠzVÂŒS‹ mxxz‘A‹mzx AxV SŒ‡‹zwX† ]zSŒ‡ Â’muu wz‘X Œƒ ‹lX Sz†ƒz†A‹X AkXxVAà ‡ A †X‡Œu‹Â ‹AuXx‹ A‹‹†AS‹mzx AxV †X‹Xx‹mzx A‡ Â’Xuu A‡ lÂŒwAx SAƒm‹Au VX‘XuzƒwXx‹ †XwAmx A tX” ‡zΠSX z] SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ 3XSlxzuzk”ð’m‡XĂ‚ †zzw ]z† Szx‡mVX†ARuX mwĠz‘XwXx‹‡ mx †X‡zΠSX X]]mSmXxS” †XwAmx‡Â AxV SzwƒAxmX‡ ‹lA‹ SAx mxܠzVÂŒSX xXÂ’ ‹XSlxzuzkmX‡ ‡ŒSl A‡ Xx—”wXĂ°RA‡XV ĠzSX‡‡X‡ Â’muu ‡XSΠX A SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą mzVm‘X†‡m‹” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 1Œ‡‹AmxARuX "AxAkXwXx‹ z] z†X‡‹‡ 1zSmAu mwXx‡mzx Ăą xARumxk zSAu X‘XuzƒwXx‹ Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹”

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class UPM-Kymmene OYJ*/**

Finland

RobecoSAM Silver Class Fibria Celulose SA � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

Brazil

12

Number of companies assessed by RobecoSAM in 2012

9

Assessed companies to total companies in universe (%)

75

Market capitalization of assessed companies to total market capitalization (%)

88

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

64%

85%

27%

Environmental

66%

94%

34%

Social

60%

83%

39%

Total score average 63% best 86% 0

68 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Furnishing

Driving forces xxz‘A‹mzxĂ‚ Â…ÂŒAum‹” AxV R†AxVmxk A†X ‹lX tX” Vm]]X†Xx‹mA‹mxk ]AS‹z†‡ mx ‹lX ]Πxm‡lmxk ‡XS‹z†à x AVVm‹mzxĂ‚ uXAVmxk SzwƒAxmX‡ AS‹m‘Xu” wAxAkX ‡A]X‹” AxV Xx‘m†zxwXx‹Au m‡‡ŒX‡ ‹l†zÂŒklzŒ‹ ‹lX ĠzVÂŒS‹ um]X S”SuXĂ 3lm‡ mxSuÂŒVX‡ ‹lX mxSz†ƒz†A‹mzx z] xXÂ’Ă‚ mxxz‘A‹m‘X AxV Xx‘m†zxwXx‹Auu” ]†mXxVu” wA‹X†mAu‡ mx‹z ĠzVÂŒS‹‡ A‡ Â’Xuu A‡ ‹AtXĂ°RASt AxV †XS”SuARmum‹” kÂŒA†Ax‹XX‡ ]z† Œ‡XV ĠzVÂŒS‹‡à "z†Xz‘X†Â Szx‡ŒwX†‡ mxS†XA‡mxku” VXwAxV ĠzVÂŒS‹‡ ‹Amuz†XV ‹z ‹lXm† xXXV‡Â mxSuÂŒVmxk A lmkl uX‘Xu z] Szw]z†‹ AxV AVAƒ‹ARmum‹” A‡ Â’Xuu A‡ ܠAx‡ƒA†Xx‹ ĠzVÂŒS‹ mx]z†wA‹mzx AxV uARXumxkĂ 3lX Â’mxxX†‡ mx ‹lX ‡XS‹z† Â’muu RX ƒmzxXX†‡ z] mxxz‘A‹m‘X AxV Xx‘m†zxwXx‹Auu” ]†mXxVu” ĠzVÂŒS‹‡ ‹lA‹ Ġz]m‹ ]†zw A Â’XuuĂ° wAxAkXV ‡Œƒƒu” SlAmx AxV A ‡‹†zxk R†AxVĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1zSmAu 0Xƒz†‹mxk Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Herman Miller Inc* � 0zRXSz1 " 1XS‹z† XAVX† As of October 31, 2012

United States

4

Number of companies assessed by RobecoSAM in 2012

4

Assessed companies to total companies in universe (%)

100

Market capitalization of assessed companies to total market capitalization (%)

100

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

44%

67%

46%

Environmental

31%

77%

29%

Social

32%

53%

25%

Total score average 37% best 67% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 69

Gambling

Driving forces 3lX kAwRumxk ‡XS‹z† †XwAmx‡ ÂŒxVX† mx‹Xx‡X ‡S†Œ‹mx” ]†zw ‹lX ƒŒRumS AxV †XkÂŒuA‹zÂ†Â‡Ăƒ uXkAu SlAxkX‡Â RA††mX†‡ ‹z Xx‹†” AxV wA†tX‹ VX†XkÂŒuA‹mzxĂ‚ A‡ Â’Xuu A‡ SzwƒumAxSX Â’m‹l Ax‹mĂ°S†mwX AxV wzxX”ðuAÂŒxVX†mxk ƒzumSmX‡ A†X tX” m‡‡ŒX‡ ‹lA‹ A]]XS‹ A SzwƒAx”Ó‡ R†AxV AxV umSXx‡X ‹z zƒX†A‹XĂ x AVVm‹mzxĂ‚ mxS†XA‡XV SzwƒX‹m‹mzx ]†zw x‹X†xX‹ðRA‡XV ƒuA‹]z†w‡ lA‡ AVVXV ĠX‡‡Œ†X ‹z ܠAVm‹mzxAu ƒl”‡mSAu ‘XxÂŒX‡Â Â’lmSl m‡ SzwƒzÂŒxVXV R” A SzxܠAS‹mzx mx kAwRumxkð†XuA‹XV ‹zΠm‡w AxV Vm‡ƒz‡ARuX mxSzwX‡à x mxS†XA‡mxk ]zSŒ‡ zx xXÂ’ wA†tX‹‡ AxV xXÂ’ zxumxX ƒuA‹]z†w‡ ‹z wm‹mkA‹X ‹lX‡X VXwAxV ‡lm]‹‡ lA‡ †Am‡XV SzxSX†x‡ z‘X† zxumxX ‡XSΠm‹” AxV †X‡‹†mS‹mxk ÂŒxVX† AkX AxV SzwƒŒu‡m‘X kAwRumxkĂ xVŒ‡‹†” uXAVX†‡ lA‘X Ġz]m‹XV ]†zw ‹lXm† ĠzAS‹m‘X mx‹X†AS‹mzx Â’m‹l ‡‹AtXlzuVX†‡ AxV ‹lXm† Szwwm‹wXx‹ ‹z mxm‹mA‹m‘X‡ AxV ƒzumSmX‡ ‹lA‹ lXuƒ wm‹mkA‹X ‹lX xXkA‹m‘X mwƒAS‹ z] kAwRumxkĂ 0XkA†Vmxk Xx‘m†zxwXx‹Au ]AS‹z†‡Â tX” SlAuuXxkX‡ mxSuÂŒVX ‹lX Rz‹‹zwĂ°umxX X]]XS‹‡ z] XxX†k” Sz‡‹‡ AxV ƒŒRumS A‹‹Xx‹mzx ‹z ‹lX Xx‘m†zxwXx‹Au mwƒAS‹‡ z] mx]†A‡‹†ŒS‹Œ†X AxV zƒX†A‹mzx‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą x‹mĂ°S†mwX -zumSӐ"XA‡Œ†X‡ Ăą †AxV "AxAkXwXx‹ Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą -†zwz‹mxk 0X‡ƒzx‡mRuX Awmxk Ăą 1zSmAu 0Xƒz†‹mxk Ăą 1‹AtXlzuVX† xkAkXwXx‹ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

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Sector statistics

RobecoSAM Gold Class Tabcorp Holdings Ltd*

Australia

RobecoSAM Silver Class Ladbrokes PLC

United Kingdom

25

Number of companies assessed by RobecoSAM in 2012

17

Assessed companies to total companies in universe (%)

68

Market capitalization of assessed companies to total market capitalization (%)

Runners up Echo Entertainment Group Ltd

Number of companies in universe

83

Australia

� 0zRXSz1 " 1XS‹z† XAVX†

Results at sector level

As of October 31, 2012

Dimension

Average

Best

Dimension

score

score

weight

Economic

49%

86%

43%

Environmental

26%

68%

16%

Social

41%

76%

41%

Total score average 42% best 77% 0

70 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Gas Distribution

Driving forces #A‹Œ†Au kA‡ m‡ ‹lX uXA‡‹ SA†RzxĂ°mx‹Xx‡m‘X ]z‡‡mu ]ÂŒXu AxV m‡ ‹lX†X]z†X Szx‡mVX†XV ‹z RX Ax X]]XS‹m‘X Au‹X†xA‹m‘X ‹z SzAu A‡ A RA‡XĂ° AxV wmVĂ°uzAV ]ÂŒXuĂ‚ AxV Â’lmSl SAx †XVÂŒSX %› Xwm‡‡mzx‡Â VXƒXxVmxk zx ]ÂŒXu AxV SA†Rzx Vmz“mVX ĠmSX‡à 3lX ‡ƒXS‹ASÂŒuA† VX‘XuzƒwXx‹ z] ÂŒxSzx‘Xx‹mzxAu †X‡zΠSX‡ SzŒƒuXV Â’m‹l Â’XAt XxX†k” VXwAxV m‡ Au†XAV” †X‡lAƒmxk ‹lX kA‡ wA†tX‹‡à 1Œƒƒu” m‡ mxS†XA‡mxku” A‘AmuARuXĂ‚ uXAVmxk ‹z mx]†A‡‹†ŒS‹Œ†X VX‘XuzƒwXx‹Â AVVmxk ]uX“mRmum‹” ‹z ‹lX ‡”‡‹Xw AxV XxSzΠAkmxk mxS†XA‡XV SzwƒX‹m‹mzxĂ A‡ð]m†XV ƒzÂ’X† kXxX†A‹mzx m‡ ‹lX†X]z†X X“ƒXS‹XV ‹z mxS†XA‡X V†AwA‹mSAuuӈ zÂ’X‘X†Â kA‡ Œ‹mum‹mX‡ †XwAmx X“ƒz‡XV ‹z ĠmSX ‘zuA‹mum‹” ƒz‹Xx‹mAu zƒƒz‡m‹mzx ‹z uA†kX mx]†A‡‹†ŒS‹Œ†X ĠzsXS‹‡ AxV ‹lX ]AmuΠX z] Vm‡‹†mRŒ‹mzx xX‹’z†t‡à lAxkX‡ mx kA‡ wA†tX‹‡Â SzwRmxXV Â’m‹l ‹lX X]]XS‹‡ z] ‹lX ”z‹z -†z‹zSzuĂ‚ A†X Au‡z XxSzΠAkmxk kA‡ SzwƒAxmX‡ ‹z XxlAxSX Rz‹l ‡Œƒƒu”ð‡mVX AxV VXwAxVð‡mVX XxX†k” X]]mSmXxS”Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą "A†tX‹ %ƒƒz†‹Œxm‹mX‡ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą mzVm‘X†‡m‹” Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą 3†Ax‡wm‡‡mzx Ă— m‡‹†mRŒ‹mzx 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Gas Natural SDG SA*

Spain

RobecoSAM Silver Class Enagas SA

Spain

Spectra Energy Corp** � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

30

Number of companies assessed by RobecoSAM in 2012

17

Assessed companies to total companies in universe (%)

57

Market capitalization of assessed companies to total market capitalization (%)

RobecoSAM Bronze Class Snam SpA

Number of companies in universe

79

Italy United States

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

60%

89%

41%

Environmental

45%

83%

28%

Social

55%

89%

31%

As of October 31, 2012

Total score average 54% best 86% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 71

General Retailers

Driving forces 3lX †X‹Amu wA†tX‹ m‡ ‡‹muu SlA†AS‹X†m—XV R” A Szx‹mxÂŒXV ‡lm]‹ ‹zÂ’A†V wÂŒu‹mxA‹mzxAu SzxkuzwX†A‹X‡ Â’m‹l kuzRAu ‡Œƒƒu” AxV Vm‡‹†mRŒ‹mzx xX‹’z†t‡Â X]]mSmXx‹ mx‘Xx‹z†” wAxAkXwXx‹ AxV Â’mVXð‡SAuX wA†tX‹mxk ƒuAx‡à 1ÂŒSSX‡‡]ÂŒu †X‹AmuX†‡ Â’muumxk ‹z kAmx wA†tX‹ ‡lA†X Szx‹mxÂŒzŒ‡u” VX‘Xuzƒ xXÂ’ Â’A”‡ ‹z AxAu”—X SŒ‡‹zwX† mx]z†wA‹mzx AxV lARm‹‡ ‹z VX‹XS‹ RŒ”mxk ƒA‹‹X†x‡ AxV mwƒuXwXx‹ wz†X †X‡ƒzx‡m‘X AxV ‹Amuz†XV SŒ‡‹zwX† †XuA‹mzx‡lmƒ wAxAkXwXx‹ ĠzSX‡‡X‡à ðSzwwX†SXĂ‚ lzwX VXum‘X†” ‡X†‘mSX‡ AxV ƒmStĂ°ÂŒÂƒ ‡”‡‹Xw‡ A†X kAmxmxk mwƒz†‹AxSX Awzxk Vm‡‹†mRŒ‹mzx SlAxxXu‡à %x Ax zƒX†A‹mzxAu uX‘XuĂ‚ SzwƒAxmX‡ xXXV ‹z AVV†X‡‡ ‹lX X]]mSmXxS” z] ‹lXm† ‡Œƒƒu” SlAmx wAxAkXwXx‹Â Vm‡‹†mRŒ‹mzx ‡”‡‹Xw‡ AxV ‹lX Œ‡X AxV Vm‡ƒz‡Au z] ƒAStAkmxkĂ 0X‡ƒzx‡mRuX ‡zΠSmxk lA‡ kAmxXV ‡mkxm]mSAxSX Awzxk ‘A†mzŒ‡ ‡‹AtXlzuVX†‡Â AxV Szx‡ŒwX†‡ lA‘X ‡lzÂ’x A Â’muumxkxX‡‡ ‹z ƒA” A ĠXwmÂŒw ]z† SzwƒAxmX‡ ‹lA‹ AVzƒ‹ lXAu‹l” Xx‘m†zxwXx‹Au ĠAS‹mSX‡à :m‹lmx ‹lm‡ Szx‹X“‹Â †X‹AmuX†‡ wŒ‡‹ X‡‹ARum‡l uzxkð‹X†w †XuA‹mzx‡lmƒ‡ Â’m‹l ‡ŒƒƒumX†‡ AxV Ġz‘mVX XxlAxSXV ܠAx‡ƒA†XxS” zx ‹lXm† ‡Œƒƒu” SlAmx wAxAkXwXx‹ ‡”‡‹Xw‡ mx z†VX† ‹z wmxmwm—X †XƒŒ‹A‹mzxAu †m‡t‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -AStAkmxk 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1‹AtXlzuVX† xkAkXwXx‹ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

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Sector statistics Number of companies in universe

RobecoSAM Gold Class Lotte Shopping Co Ltd*

South Korea

RobecoSAM Bronze Class Inditex SA

Spain

United States

Gap Inc

United States Sweden

Home Retail Group PLC

United Kingdom

Kingfisher PLC

United Kingdom

Marks & Spencer Group PLC

United Kingdom

Office Depot Inc Seven & I Holdings Co Ltd**

United States United States

Target Corp

United States

Woolworths Holdings Ltd � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

72 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

Market capitalization of assessed 82

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

45%

89%

47%

Environmental

43%

93%

24%

Social

42%

89%

29%

Japan

Staples Inc Wesfarmers Ltd

50

Japan

Best Buy Co Inc Hennes & Mauritz AB

52

Assessed companies to total companies in universe (%) companies to total market capitalization (%)

Runners up Aeon Co Ltd

105

Number of companies assessed by RobecoSAM in 2012

Total score

Australia

average 44%

South Africa

best 90% 0

25

50

75

100

Healthcare Providers

Driving forces 3lX lXAu‹lSA†X ‡XS‹z† mxSuÂŒVX‡ lXAu‹l mx‡Œ†X†‡ A‡ Â’Xuu A‡ SzwƒAxmX‡ Ġz‘mVmxk lXAu‹lSA†X ‡X†‘mSX‡ z† ĠzVÂŒS‹‡Â ‡ŒSl A‡ lz‡ƒm‹Au‡ z† Szx‡ŒwX† kzzV‡ ĠzVÂŒSX†‡à kmxk ƒzƒŒuA‹mzx‡Â ÂŒxlXAu‹l” um]X‡‹”uX‡ mx mxVŒ‡‹†mAum—XV SzÂŒxܠmX‡ AxV uA†kXu” ÂŒxwX‹ wXVmSAu xXXV‡ mx VX‘Xuzƒmxk SzÂŒxܠmX‡ A†X tX” ܠXxV‡ A]]XS‹mxk ‹lm‡ ‡XS‹z†à 1ÂŒSl ܠXxV‡ uXAV ‹z mxS†XA‡XV Œ‡X z] lXAu‹lSA†X ‡X†‘mSX‡Â wAtmxk ‹lXw tX” XSzxzwmS V†m‘X†‡ ]z† ‹lX ‡XS‹z†à zÂ’X‘X†Â X“ƒuzVmxk lXAu‹lSA†X Sz‡‹‡ AxV ‹lX k†zÂ’mxk Vm‘mVX mx lXAu‹lSA†X ‡X†‘mSX‡ Â’m‹lmx ƒzƒŒuA‹mzx k†zŒƒ‡ z† Xx‹m†X xA‹mzx‡ ĠX‡Xx‹ wAsz† ‡zSmX‹Au SlAuuXxkX‡ ‹lA‹ A†X RXmxk ‹AStuXV ‹l†zÂŒkl lXAu‹lSA†X †X]z†w Ġzk†Aw‡ Â’z†uVÂ’mVXĂ XAVmxk SzwƒAxmX‡ A‡‡ŒwX Ax AS‹m‘X †zuX mx ‹lX ‡XA†Sl ]z† ‡zuŒ‹mzx‡ AxV ‹lX S†XA‹mzx z] X]]XS‹m‘XĂ‚ ‡Œ‡‹AmxARuX lXAu‹lSA†X ‡”‡‹Xw‡ R” XxkAkmxk Â’m‹l Auu ‹lX †XuX‘Ax‹ ‡‹AtXlzuVX† k†zÂŒÂƒÂ‡Ă 3lX ]zSŒ‡ m‡ zx ĠX‘Xx‹m‘X wXVmSmxX AxV ‡X†‘mSX‡Â RX‹‹X† SzwƒumAxSXĂ‚ Szx‹mxÂŒzŒ‡ mwĠz‘XwXx‹ mx SŒ‡‹zwX†ðz†mXx‹XV ‡X†‘mSX‡ AxV ‡‹†A‹XkmS AuumAxSX‡ AS†z‡‡ ܠAVm‹mzxAu RŒ‡mxX‡‡ RzÂŒxVA†mX‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1X†‘mSX ‹z -A‹mXx‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

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Sector statistics

RobecoSAM Gold Class UnitedHealth Group Inc*

United States

RobecoSAM Bronze Class Humana Inc**

United States

Mediclinic International Ltd Quest Diagnostics Inc

36

Number of companies assessed by RobecoSAM in 2012

15

Assessed companies to total companies in universe (%)

42

Market capitalization of assessed companies to total market capitalization (%)

Runners up Fresenius Medical Care AG & Co KGaA

Number of companies in universe

73

Germany South Africa

Results at sector level

United States

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Dimension

Average

Best

Dimension

score

score

weight

Economic

53%

73%

As of October 31, 2012

38%

Environmental

30%

68%

14%

Social

39%

72%

48%

Total score average 43% best 66% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 73

Heavy Construction

Driving forces 3lX lXA‘” Szx‡‹†ŒS‹mzx ‡XS‹z† mxSuÂŒVX‡ SzwƒAxmX‡ XxkAkXV mx ‹lX Szx‡‹†ŒS‹mzx z] mx]†A‡‹†ŒS‹Œ†XĂ‚ SzwwX†SmAu AxV †X‡mVXx‹mAu RÂŒmuVmxk‡à 3lX Szx‡‹†ŒS‹mzx mxVŒ‡‹†” Szx‡ŒwX‡ †X‡zΠSX‡ zx A wA‡‡m‘X ‡SAuX ‹z S†XA‹X ‹lX mx]†A‡‹†ŒS‹Œ†X AxV RÂŒmu‹ Xx‘m†zxwXx‹à zwƒAxmX‡ A†X mxS†XA‡mxku” SlAuuXxkXV R” m‡‡ŒX‡ mx A†XA‡ ‡ŒSl A‡ zƒX†A‹mzxAu lXAu‹l Ă— ‡A]X‹” XxX†k” X]]mSmXxS” AxV ‹lX †X‡ƒzx‡mRuX Œ‡X z] †X‡zΠSX‡à 0X‡zΠSX X]]mSmXxS” m‡ xz‹ umwm‹XV zxu” ‹z SzwƒumAxSX Â’m‹l uXkAu †XÂ…ÂŒm†XwXx‹‡Â RŒ‹ Au‡z mxSuÂŒVX‡ ‹lX AS‹m‘X Ġzwz‹mzx z] wXA‡Œ†X‡ ‹z †XVÂŒSX †X‡zΠSX VXƒuX‹mzxĂ x A †X‡zΠSXĂ°Szx‡‹†AmxXV Â’z†uVĂ‚ X‡‹ARum‡lmxk A †XƒŒ‹A‹mzx A‡ †X‡zΠSXĂ°Szx‡SmzŒ‡ SzwƒAx” †XĠX‡Xx‹‡ A SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ m‘Xx mxS†XA‡mxk mx]†A‡‹†ŒS‹Œ†X ‡ƒXxVmxk mx XwX†kmxk wA†tX‹‡Â A SzwƒAx”Ó‡ ARmum‹” ‹z X‡‹ARum‡l m‹‡Xu] A‡ A ĠX]X††XV SzxܠAS‹z† Au‡z VXƒXxV‡ zx m‹‡ ARmum‹” ‹z lAxVuX AxV A‘zmV †XƒŒ‹A‹mzxAu †m‡t‡ A‡‡zSmA‹XV Â’m‹l Ax‹m‹†Œ‡‹ AxV R†mRX†” SA‡X‡à 3lm‡ wXAx‡ ‹lA‹ ‹lX X‡‹ARum‡lwXx‹ AxV mwƒuXwXx‹A‹mzx z] †mkz†zŒ‡ SzVX‡ z] SzxVÂŒS‹ Â’muu RX A tX” ‡ŒSSX‡‡ ]AS‹z†Â ƒA†‹mSÂŒuA†u” mx XwX†kmxk wA†tX‹‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą ÂŒmuVmxk "A‹X†mAu‡ Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0X‡zΠSX zx‡X†‘A‹mzx AxV 0X‡zΠSX ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

62

GS Engineering & Construction Corp*

South Korea

Number of companies assessed by RobecoSAM in 2012

42

Hyundai Engineering & Construction Co Ltd

South Korea

Assessed companies to total companies in universe (%)

68

RobecoSAM Gold Class

Market capitalization of assessed

RobecoSAM Bronze Class Acciona SA

Spain

Ferrovial SA

Spain

ACS Actividades de Construccion y Servicios SA Daelim Industrial Co Ltd Fomento de Construcciones y Contratas SA Hochtief AG

77

Results at sector level

Runners up Balfour Beatty PLC**

companies to total market capitalization (%)

Spain

United Kingdom

Dimension

Average

Best

Dimension

score

score

weight

Economic

61%

85%

30%

South Korea Spain

Environmental

53%

93%

38%

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Germany

Social

53%

87%

32%

As of October 31, 2012

Total score average 56% best 88% 0

74 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Home Construction

Driving forces †z’‹l mx ‹lX lzwX Szx‡‹†ŒS‹mzx ‡XS‹z† m‡ V†m‘Xx uA†kXu” R” X“‹X†xAu ]AS‹z†‡ ‡ŒSl A‡ mx‹X†X‡‹ †A‹X‡ AxV kXxX†Au XSzxzwmS SzxVm‹mzx‡à x AVVm‹mzxĂ‚ ĠmSX ĠX‡‡Œ†X‡ AxV ‹mkl‹X† †XkÂŒuA‹mzx‡ †XwAmx Szx‡‹Ax‹ SlAuuXxkX‡ ]z† ‹lX ‡XS‹z†à zwƒAxmX‡ wŒ‡‹ Xx‡Œ†X ‹lA‹ Szx‡‹†ŒS‹mzx ĠzSX‡‡X‡ A†X †Œx X]]mSmXx‹u” AxV mx Ax Xx‘m†zxwXx‹Auu” ]†mXxVu” wAxxX†à 3lm‡ mxSuÂŒVX‡ A‘zmVmxk ‹lX Œ‡X z] lA†w]ÂŒu ‡ŒR‡‹AxSX‡ AxV mxS†XA‡XV †XS”Sumxk z] kXxX†A‹XV Â’A‡‹XĂ zwƒAxmX‡ ‹lA‹ †X‡ƒzxV Â’Xuu ‹z xXÂ’ ‹XSlxzuzk” VX‘XuzƒwXx‹‡ ‡ŒSl A‡ uzÂ’Ă°XxX†k” ƒA‡‡m‘X AxV ƒuÂŒÂ‡Ă° XxX†k” RÂŒmuVmxk‡ A†X umtXu” ‹z †XwAmx A‹ ‹lX ]z†X]†zx‹ z] ‹lX mxVŒ‡‹†” ]zuuzÂ’mxk mxS†XA‡mxk uXkm‡uA‹m‘X ĠX‡‡Œ†X mx ‹lX XxX†k” X]]mSmXxS” A†XAĂ zwwŒ‹mxk ‹mwXĂ‚ uzSAu AwXxm‹mX‡Â k†XXx ‡ƒASXĂ‚ AxV XxX†k” Szx‡X†‘A‹mzx A†X Auu ‡ŒRsXS‹‡ ‹lA‹ xXXV ‹z RX AVV†X‡‡XV mx ‹lX XA†u” ƒuAxxmxk ĠzSX‡‡X‡ z] ĠzƒX†‹” VX‘XuzƒwXx‹à %SSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” †m‡t‡ A†X lmklĂ‚ †XÂ…ÂŒm†mxk ‡‹†mS‹ wAxAkXwXx‹ ĠAS‹mSX‡ ‹z †XVÂŒSX ‹lX mxsŒ†” †A‹X Awzxk Xwƒuz”XX‡ AxV X“‹X†xAu SzxܠAS‹z†‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą ÂŒmuVmxk "A‹X†mAu‡ Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0X‡zΠSX zx‡X†‘A‹mzx AxV 0X‡zΠSX ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1zSmAu 0Xƒz†‹mxk

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Sumitomo Forestry Co Ltd*/**

Japan

RobecoSAM Bronze Class Sekisui Chemical Co Ltd � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

Japan

Number of companies in universe

15

Number of companies assessed by RobecoSAM in 2012

11

Assessed companies to total companies in universe (%)

73

Market capitalization of assessed companies to total market capitalization (%)

77

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

55%

72%

27%

Environmental

49%

84%

36%

Social

31%

65%

37%

Total score average 44% best 70% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 75

Hotels, Restaurants, Bars & Recreational Services

Driving forces 3lX tX” ‡Œ‡‹AmxARmum‹” ]AS‹z†‡ ]z† ‹lX lz‹Xu‡Â †X‡‹AΠAx‹‡Â RA†‡ Ă— †XS†XA‹mzxAu ‡X†‘mSX‡ ‡XS‹z† A†X umxtXV ‹z m‹‡ Xwƒuz”XX‡Â Â’lz V†m‘X ‹lX RŒ‡mxX‡‡ AxV A†X ‹lX ]ASX z] ‹lX SzwƒAx” ‹zÂ’A†V m‹‡ SŒ‡‹zwX†‡à 3lm‡ wAtX‡ m‹ mxVm‡ƒXx‡ARuX ]z† SzwƒAxmX‡ ‹z Xwƒuz” Ġzk†X‡‡m‘X lÂŒwAx †X‡zΠSX ƒzumSmX‡ ‹lA‹ mxSuÂŒVX ‹AuXx‹ A‹‹†AS‹mzx Ă— †X‹Xx‹mzxĂ‚ lÂŒwAx SAƒm‹Au VX‘XuzƒwXx‹Â zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” A‡ Â’Xuu A‡ ‹lX AVzƒ‹mzx z] k†zÂŒÂƒĂ°Â’mVX X‹lmSAu ĠmxSmƒuX‡ ‹lA‹ Sz‘X† ‹lX Xx‹m†X ‡Œƒƒu” SlAmxĂ 1ܠzxk R†AxV wAxAkXwXx‹ AxV SŒ‡‹zwX† †XuA‹mzx‡lmƒ ‡‹†A‹XkmX‡ ‹lA‹ AVV†X‡‡ ‡Œ‡‹AmxARmum‹” m‡‡ŒX‡ A†m‡mxk ]†zw SlAxkmxk SŒ‡‹zwX† VXwAxV‡ A†X Vm]]X†Xx‹mA‹mxk ]AS‹z†‡à x‘m†zxwXx‹Au Szx‡mVX†A‹mzx‡ ‡ŒSl A‡ XxX†k” AxV Â’A‹X† Szx‡Œwƒ‹mzx A†X S†m‹mSAu ‹z SzwƒAxmX‡Ó zƒX†A‹mzx‡ AxV S†XA‹X xXÂ’ zƒƒz†‹Œxm‹mX‡ ]z† Sz‡‹ð‡A‘mxk‡à zSAu ĠzVÂŒS‹ ‡zΠSmxk AxV Ax XxlAxSXV ĠzVÂŒS‹ z]]X†mxk A†X †XÂ…ÂŒm†XV ‹z AVV†X‡‡ ‡Œƒƒu” SlAmx m‡‡ŒX‡ AxV ‡lm]‹mxk SŒ‡‹zwX† ĠX]X†XxSX‡ AxV ‡zSmX‹Au xXXV‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą z†ƒz†A‹X z‘X†xAxSX Ăą zzV 1A]X‹” Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą XAu‹l” m‘mxk Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą zSAu wƒAS‹ z] Œ‡mxX‡‡ %ƒX†A‹mzx‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Sodexo*/**

France

RobecoSAM Silver Class Compass Group PLC

United Kingdom

57

Market capitalization of assessed 82

Results at sector level

McDonald’s Corp

United States

Starbucks Corp

United States

As of October 31, 2012

20

Assessed companies to total companies in universe (%)

France

Runners up

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

35

Number of companies assessed by RobecoSAM in 2012

companies to total market capitalization (%)

RobecoSAM Bronze Class Accor SA

Number of companies in universe

Dimension

Average

Best

Dimension

score

score

weight

Economic

57%

84%

36%

Environmental

31%

85%

19%

Social

45%

81%

45%

Total score average 47% best 82% 0

76 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Industrial Engineering

Driving forces -zƒŒuA‹mzx k†z’‹l AxV ΠRAxm—A‹mzx A†X S†XA‹mxk ‡Œ‡‹AmxXV VXwAxV ]z† ]m“XV mx‘X‡‹wXx‹Â ƒA†‹mSÂŒuA†u” mx XwX†kmxk wA†tX‹‡Â Â’lmSl Â’muu RX lzwX ‹z ¥žŠ z] ‹lX Â’z†uVӇ ƒzƒŒuA‹mzx R” ›™ž™à 3lX wAmx ‡Œ‡‹AmxARmum‹” SlAuuXxkX‡ AxV zƒƒz†‹Œxm‹mX‡ mx ‹lX mxVŒ‡‹†mAu XÂ…ÂŒmƒwXx‹ ‡XS‹z† A†X A‡‡zSmA‹XV Â’m‹l ‹lX Œ‡X z] ĠzVÂŒS‹‡à xS†XA‡mxk †X‡zΠSX ‡SA†Sm‹” m‡ ‡ƒŒ††mxk ‹lX xXXV ]z† mwĠz‘XV †X‡zΠSX X]]mSmXxS” AxV wz†X ‡ƒXSm]mSAuu” XxX†k” AxV Â’A‹X† X]]mSmXxS” ƒA†‹mSÂŒuA†u” mx Â’A‹X†ðmx‹Xx‡m‘X mxVŒ‡‹†mX‡ ‡ŒSl A‡ Ak†mSÂŒu‹Œ†X z† wmxmxkĂ XAVmxk SzwƒAxmX‡ A†X mxS†XA‡mxku” ]zSŒ‡mxk zx ĠzVÂŒS‹ mxxz‘A‹mzx‡ AxV Œ‡X um]X S”SuX AxAu”‡m‡ ‹z SAƒm‹Aum—X zx SŒ‡‹zwX†‡Ó ƒz‹Xx‹mAu ‡A‘mxk‡ ‹l†zÂŒklzŒ‹ ‹lX um]X ‡ƒAx z] ‹lX XÂ…ÂŒmƒwXx‹à :AkX mxS†XA‡X‡Â ‡A]X‹” SzxSX†x‡ AxV Â…ÂŒAum‹” m‡‡ŒX‡ A†X Au‡z V†m‘mxk ‹lX Ġzk†X‡‡m‘X wXSlAxm—A‹mzx AxV AŒ‹zwA‹mzx z] wAxÂŒ]AS‹Œ†mxk ĠzSX‡‡X‡à 1Œƒƒu” SlAmx‡ X“‹XxVmxk ‹z XwX†kmxk wA†tX‹‡ mxS†XA‡X SzwƒAxmX‡Ó ƒz‹Xx‹mAu X“ƒz‡Œ†X ‹z lÂŒwAx †mkl‹‡ ARŒ‡X‡ AxV zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” m‡‡ŒX‡à 1XS‹z† uXAVX†‡ AS‹m‘Xu” wAxAkX ‹lX‡X †m‡t‡ A‡ Ax mx‹Xk†Au SzwƒzxXx‹ z] ‹lXm† ‡Œƒƒu” SlAmx wAxAkXwXx‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 1ܠA‹Xk” ]z† wX†kmxk "A†tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą :A‹X† 0XuA‹XV 0m‡t‡ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Fiat Industrial SpA*

Italy

RobecoSAM Bronze Class Atlas Copco AB Ingersoll-Rand PLC MAN SE

Sweden United States

Alstom SA

France

Cummins Inc

United States

Komatsu Ltd

Japan United Kingdom Finland

Outotec OYJ**

Finland

SKF AB

Dimension

76

Average

Best

Dimension

score

score

weight

Economic

55%

87%

38%

Environmental

48%

83%

31%

Social

51%

88%

31%

Total score

South Korea

average 51%

Sweden

Sulzer AG

Switzerland

Volvo AB

Sweden

Xylem Inc

companies to total market capitalization (%)

Japan

Metso OYJ Samsung Heavy Industries Co Ltd

Market capitalization of assessed

Results at sector level

United States

IMI PLC

49

Switzerland

Caterpillar Inc Daikin Industries Ltd

59

Assessed companies to total companies in universe (%)

Germany

Runners up ABB Ltd

120

Number of companies assessed by RobecoSAM in 2012

best 85% 0

25

50

75

100

United States

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 77

Industrial Transportation

Driving forces 3lX mxVŒ‡‹†mAu ܠAx‡ƒz†‹A‹mzx ‡XS‹z† ]ASmum‹A‹X‡ ܠAVX AxV Ġzwz‹X‡ XSzxzwmS VX‘XuzƒwXx‹ AxV X]]mSmXxS” kAmx‡à 3†AVX †zŒ‹X‡ Szx‡‹Ax‹u” SlAxkX mx †X‡ƒzx‡X ‹z ‡lm]‹mxk kuzRAu ‡ŒƒƒuӐVXwAxV V”xAwmS‡à 3lX†X]z†XĂ‚ ]uX“mRmum‹” m‡ A tX” ‡ŒSSX‡‡ ]AS‹z† ]z† SzwƒAxmX‡ mx‘zu‘XV mx uzxkĂ°Vm‡‹AxSX ܠAx‡ƒz†‹A‹mzxĂ ]]mSmXxS” Ăą Rz‹l ]†zw A Sz‡‹ AxV ‹mwX ƒX†‡ƒXS‹m‘X Ăą m‡ A S†m‹mSAu SzxܠmRŒ‹z† ‹z SzwƒAxmX‡Ó SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ‚ Â’lmSl m‡ mxS†XA‡mxku” ASlmX‘XV ‹l†zÂŒkl ‡‹AxVA†Vm—A‹mzx ĂŁXĂ kĂ Szx‹AmxX†m—A‹mzxĂŠĂ‚ mx‹X†ðwzVAu ܠAx‡ƒz†‹ AxV 3Ă°Â‡ÂŒÂƒÂƒz†‹XV uzkm‡‹mSÂ‡Ă ÂŒXu X]]mSmXxS” m‡ RXSzwmxk XÂ…ÂŒAuu” mwƒz†‹Ax‹Â ƒA†‹mSÂŒuA†u” ]z† SzwƒAxmX‡ ‹lA‹ zÂ’x ‹lXm† zÂ’x ‘XlmSuX ]uXX‹‡à VVm‹mzxAuu” SzwƒAxmX‡ ‡XXt ‹z wmxmwm—X ‹lX SA†Rzx ]zz‹ƒ†mx‹ A‡‡zSmA‹XV Â’m‹l ܠAx‡ƒz†‹A‹mzxĂ‚ A‡ SŒ‡‹zwX†‡ A†X mxS†XA‡mxku” wmxV]ÂŒu z] ‹lX Xx‘m†zxwXx‹Au mwƒAS‹ z] ‹lXm† ‡Œƒƒu” SlAmxĂ z† SzwƒAxmX‡ zƒX†A‹mxk uzSAu ܠAx‡ƒz†‹A‹mzx lÂŒR‡ ‡ŒSl A‡ Am†ƒz†‹‡ AxV ‡XAƒz†‹‡Â ‡‹AtXlzuVX† XxkAkXwXx‹ AxV kzzV †XuA‹mzx‡lmƒ‡ Â’m‹l uzSAu SzwwÂŒxm‹mX‡ m‡ A ĠXð†XÂ…ÂŒm‡m‹X ]z† wAmx‹Amxmxk ‹lXm† umSXx‡X ‹z zƒX†A‹XĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1‹AtXlzuVX† xkAkXwXx‹ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class PostNL NV*

Netherlands

RobecoSAM Silver Class Atlantia SpA

Italy

Canadian National Railway Co**

Canada

TNT Express NV

Germany

Fraport AG Frankfurt Airport Services Worldwide

Germany

Transurban Group United Parcel Service Inc

41

Assessed companies to total companies in universe (%)

54

Market capitalization of assessed companies to total market capitalization (%)

81

Results at sector level

Deutsche Post AG

Royal Mail Group Ltd1

76

Number of companies assessed by RobecoSAM in 2012

Netherlands

RobecoSAM Bronze Class

Nippon Yusen KK

Number of companies in universe

Dimension

Average

Best

Dimension

score

score

weight

Economic

58%

90%

29%

Environmental

57%

94%

28%

Social

56%

89%

43%

Japan United Kingdom Australia United States

Runners up Abertis Infraestructuras SA

Spain

Total score

Ă? 0zRXSz1 " 1XS‹z† XAVX† Ă?Ă? 0zRXSz1 " 1XS‹z† "z‘X† š 3lm‡ SzwƒAx” lA‡ RXXx X‘AuÂŒA‹XV zŒ‹‡mVX z] ‹lX †XkÂŒuA† zÂ’ zxX‡ 1Œ‡‹AmxARmum‹” xVX“X‡ A‡‡X‡‡wXx‹ ĠzSX‡‡ As of October 31, 2012

78 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

average 57% best 88% 0

25

50

75

100

Insurance

Driving forces x‡Œ†AxSX m‡ Auu ARzŒ‹ wAxAkmxk †m‡tĂ -†zVÂŒS‹‡ AxV ‡X†‘mSX‡ z]]X†XV R” ‹lX mx‡Œ†AxSX ‡XS‹z† mxSuÂŒVX umARmum‹” um]X AxV lXAu‹l mx‡Œ†AxSXĂ‚ A‡ Â’Xuu A‡ †Xmx‡Œ†AxSX AxV ]mxAxSmAu ‡X†‘mSX‡à XSAŒ‡X mx‡Œ†X†‡ †Xu” zx wz‹m‘A‹XVĂ‚ lmklu” Â…ÂŒAum]mXV AxV X“ƒX†mXxSXV Xwƒuz”XX‡ ‹z VX‘Xuzƒ mxxz‘A‹m‘X ĠzVÂŒS‹‡Â A‹‹†AS‹ AxV †X‹Amx SumXx‹‡Â ‹lX” wŒ‡‹ mx‘X‡‹ mx Xwƒuz”XX †XuA‹mzx‡Â †XwÂŒxX†A‹mzx ‡”‡‹Xw‡ AxV txzÂ’uXVkX wAxAkXwXx‹à umwA‹X SlAxkX AxV †X‡zΠSX ‡SA†Sm‹” lA‘X RXSzwX mwƒz†‹Ax‹ m‡‡ŒX‡ A‡ xA‹Œ†Au Vm‡A‡‹X†‡ AxV †XuA‹m‘Xu” ‡wAuu X‘Xx‹‡ †X‡Œu‹mxk ]†zw X“‹†XwX Â’XA‹lX† SzxVm‹mzx‡ lA‘X Â’XuuĂ°txzÂ’x Szx‡XÂ…ÂŒXxSX‡ ]z† ‹lX mx‡Œ†AxSX mxVÂŒÂ‡Â‹Â†Â”Ă %‹lX† m‡‡ŒX‡ mxSuÂŒVX SlAxkmxk VXwzk†AƒlmS‡Â zRX‡m‹” AxV z‹lX† xXÂ’ lXAu‹l †m‡t‡à "z†Xz‘X†Â umARmum‹” SA‡X‡ ‡lzÂ’ ‹lA‹ ‹lX mx‡Œ†AxSX ‡XS‹z† m‡ Suz‡Xu” ‹mXV ‹z z‹lX† XSzxzwmS ‡XS‹z†‡ AxV VXƒXxVXx‹ zx ‹lX ƒzum‹mSAu VXSm‡mzxĂ°wAtmxk ĠzSX‡‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą Œ‡mxX‡‡ 0m‡t‡ Ă— %ƒƒz†‹Œxm‹mX‡ Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0m‡t X‹XS‹mzx 1zSmAu mwXx‡mzx Ăą mxAxSmAu xSuŒ‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Swiss Re AG*

Switzerland

RobecoSAM SIlver Class Aegon NV

Netherlands

Allianz SE

Germany

Aviva PLC

United Kingdom

Munich Re AG Samsung Life Insurance Co Ltd**

Germany

126

Number of companies assessed by RobecoSAM in 2012

67

Assessed companies to total companies in universe (%)

53

Market capitalization of assessed companies to total market capitalization (%)

81

Results at sector level

South Korea

RobecoSAM Bronze Class

Dimension

Delta Lloyd NV

Netherlands

Dongbu Insurance Co Ltd

South Korea

Average

Best

Dimension

score

score

weight

Economic

61%

86%

37%

Mapfre SA

Spain

Environmental

46%

92%

29%

NKSJ Holdings Inc

Japan

Social

41%

81%

34%

Storebrand ASA Tokio Marine Holdings Inc

Norway Japan

Total score

Runners up AXA SA ING Groep NV Insurance Australia Group Ltd

France

best 83%

Australia

Legal & General Group PLC

United Kingdom

Standard Life PLC

United Kingdom

Zurich Insurance Group AG

average 50%

Netherlands 0

25

50

75

100

Switzerland

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 79

Leisure Goods

Driving forces 3lX ‡XS‹z†Ó‡ tX” V†m‘X†‡ mxSuÂŒVX ĠzVÂŒS‹ Vm]]X†Xx‹mA‹mzxĂ‚ Â…ÂŒAum‹” ‹mwXð‹zĂ°wA†tX‹Â AxV R†AxV wAxAkXwXx‹à ‡ A †X‡Œu‹Â SzwƒAxmX‡ wŒ‡‹ ]zSŒ‡ zx mxxz‘A‹mzx AxV 0Ă— ‹z wAmx‹Amx ‹lXm† SzwƒX‹m‹m‘XxX‡‡ mx ‹lX †AƒmVu” SlAxkmxk XuXSܠzxmS‡ AxV Xx‹X†‹AmxwXx‹ wA†tX‹‡ Â’lX†X xXÂ’ ĠzVÂŒS‹‡ ‹XxV ‹z RXSzwX SzwwzVm‹m—XV A]‹X† A SX†‹Amx AwzÂŒx‹ z] ‹mwX zx ‹lX wA†tX‹à XAVmxk SzwƒAxmX‡ AVV†X‡‡ ‹lX SlAuuXxkX‡ z] VX‘Xuzƒmxk xXÂ’ ‹XSlxzuzkmX‡ AxV ‹lX xXXV ‹z Ġz‘mVX X‘X†ðSlAxkmxk AxV wz†X mx‹Xk†A‹XV ĠzVÂŒS‹ †AxkX‡ R” Xx‹X†mxk mx‹z ‡‹†A‹XkmS AuumAxSX‡ AxV zŒ‹‡zΠSmxk zƒX†A‹mzx‡à 1Œƒƒu” SlAmx wAxAkXwXx‹ ‹lA‹ mx‹Xk†A‹X‡ Xx‘m†zxwXx‹Au AxV ‡zSmAu Szx‡mVX†A‹mzx‡ m‡ mxS†XA‡mxku” mwƒz†‹Ax‹ ]z† wmxmwm—mxk XSzxzwmSĂ‚ ‡zSmAu AxV †XƒŒ‹A‹mzxAu †m‡t‡à 3lÂŒÂ‡Ă‚ SzwƒAxmX‡ wŒ‡‹ ƒA” mxS†XA‡mxk A‹‹Xx‹mzx ‹z Â’z†tmxk SzxVm‹mzx‡Â ƒA†‹mSÂŒuA†u” Â’m‹l †XkA†V ‹z ‡ŒƒƒumX†‡ AxV ‡ŒRSzxܠAS‹z†‡ mx VX‘Xuzƒmxk SzÂŒxܠmX‡à x‘m†zxwXx‹Au SlAuuXxkX‡ A†m‡X ‹l†zÂŒklzŒ‹ ‹lX ĠzVÂŒS‹ um]X ‡ƒAxĂ‚ †XÂ…ÂŒm†mxk um]X S”SuX AxAu”‡m‡Â Â’lmSl mxSuÂŒVX‡ ĠzVÂŒS‹ wzVÂŒuA†m‹” A‘zmVmxk ‹lX Œ‡X z] ‹z“mS ‡ŒR‡‹AxSX‡ mx Rz‹l wAxÂŒ]AS‹Œ†mxk ĠzSX‡‡X‡ AxV ĠzVÂŒS‹‡Â XxX†k” X]]mSmXx‹ ĠzVÂŒS‹‡ AxV X]]XS‹m‘X ‹AtXĂ°RASt Ġzk†Aw‡ ]z† ‹lX Vm‡ƒz‡Au z] zR‡zuX‹X ĠzVÂŒS‹‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą A—A†VzŒ‡ 1ÂŒR‡‹AxSX‡ Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1‹AtXlzuVX† xkAkXwXx‹ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Koninklijke Philips Electronics NV*

Netherlands

RobecoSAM Bronze Class LG Electronics Inc** Panasonic Corp � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

South Korea Japan

Number of companies in universe

26

Number of companies assessed by RobecoSAM in 2012

17

Assessed companies to total companies in universe (%)

65

Market capitalization of assessed companies to total market capitalization (%)

82

Results at sector level

As of October 31, 2012

Dimension

Average

Best

Dimension

score

score

weight

Economic

54%

95%

42%

Environmental

48%

93%

30%

Social

55%

88%

28%

Total score average 53% best 91% 0

80 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Media

Driving forces 3lX lX‹X†zkXxXzŒ‡ AxV SzwƒX‹m‹m‘X ƒŒRum‡lmxk ‡XS‹z† m‡ X“ƒX†mXxSmxk A wAsz† ‡lm]‹ ‹zÂ’A†V‡ ‹lX Vmkm‹m—A‹mzx AxV XuXSܠzxmS ĠX‡Xx‹A‹mzx z] Szx‹Xx‹à "XVmA SzwƒAxmX‡ ‹lA‹ XwR†ASX ‹lm‡ ‡lm]‹ AxV mxS†XA‡X ‹lXm† †X‘XxÂŒX ‡‹†XAw‡ ]†zw zxumxX wA†tX‹ ‡XkwXx‹‡ Â’muu XwX†kX A‡ ‡XS‹z† uXAVX†‡à 3lX Œ‡X z] xXÂ’ ‹XSlxzuzkmX‡Â SzŒƒuXV Â’m‹l mxxz‘A‹m‘X ‹lmxtmxkĂ‚ Szx‹Xx‹ AxV SlAxxXu wAxAkXwXx‹ A†X mwƒz†‹Ax‹ ‹z ‹Aƒƒmxk xXÂ’ wA†tX‹‡ AxV S†XA‹mxk xXÂ’ RŒ‡mxX‡‡ zƒƒz†‹Œxm‹mX‡à zwƒAxmX‡ ‹lA‹ Szx‡m‡‹Xx‹u” mx‘X‡‹ mx †X‹Amxmxk A ‹AuXx‹XVĂ‚ S†XA‹m‘X AxV wz‹m‘A‹XV Â’z†t]z†SX Â’lmuX ĠzVÂŒSmxk AxV Szx‹mxÂŒzŒ‡u” †XƒuXxm‡lmxk ÂŒxmÂ…ÂŒXĂ‚ ‘AuÂŒARuX ƒŒRum‡lmxk Szx‹Xx‹ lA‘X uXV ‹lX ‡XS‹z†à 0m‡mxk um‹X†AS” †A‹X‡ mx VX‘Xuzƒmxk SzÂŒxܠmX‡ z]]X† ‹lX wXVmA mxVŒ‡‹†” A lÂŒkX wA†tX‹ Â’m‹l ‡‹†zxk k†z’‹l ƒz‹Xx‹mAu z‘X† ‹lX Szwmxk ”XA†‡à 1zSmAu ]AS‹z†‡ ‡ŒSl A‡ Ax‹mĂ° Vm‡S†mwmxA‹mzx ƒzumSmX‡ ]z† ‹lX Â’z†t]z†SX AxV SÂŒu‹Œ†Au ‡Xx‡m‹m‘m‹” ‹zÂ’A†V SumXx‹‡ AxV SzwwÂŒxm‹mX‡ †XwAmx A‹ ‹lX SXx‹X† z] ƒŒRumS A‹‹Xx‹mzx AxV ‡S†Œ‹mxӈ m‘Xx wXVmA SzwƒAxmX‡Ó ƒzÂ’X† ‹z ‡lAƒX ƒŒRumS zƒmxmzxĂ‚ ASSzÂŒx‹ARmum‹” ܠAx‡ƒA†XxS” AxV X‹lmSAu AV‘X†‹m‡mxk Aƒƒ†zASlX‡ A†X Au‡z mwƒz†‹Ax‹ ]AS‹z†‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xVXƒXxVXxSX z] zx‹Xx‹ Ăą %xumxX 0m‡t‡ Ă— %ƒƒz†‹Œxm‹mX‡ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 0X‡ƒzx‡mRmum‹” z] zx‹Xx‹ Ăą 1zSmAu 0Xƒz†‹mxk Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

83

Belgium

Number of companies assessed by RobecoSAM in 2012

41

United Kingdom

Assessed companies to total companies in universe (%)

49

RobecoSAM Gold Class Telenet Group Holding NV* Pearson PLC

Market capitalization of assessed

RobecoSAM Bronze Class British Sky Broadcasting Group PLC

United Kingdom

companies to total market capitalization (%)

80

Runners up Dai Nippon Printing Co Ltd ITV PLC

Japan

Liberty Global Inc**

United States

McGraw-Hill Cos Inc

United States

Modern Times Group AB Reed Elsevier PLC Societe Television Francaise 1 Wolters Kluwer NV WPP PLC

Results at sector level

United Kingdom

Sweden United Kingdom France

Dimension

Average

Best

Dimension

score

score

weight

Economic

47%

83%

44%

Environmental

35%

88%

16%

Social

40%

82%

40%

Netherlands United Kingdom

Total score

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

average 42%

As of October 31, 2012

best 81% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 81

Medical Products

Driving forces 3lX wXVmSAu XÂ…ÂŒmƒwXx‹ AxV ‡X†‘mSX mxVŒ‡‹†” VX‘Xuzƒ‡ wXVmSAu VX‘mSX‡ ‡ŒSl A‡ z†‹lzƒXVmS mwƒuAx‹‡ AxV SA†Vmz‘A‡SÂŒuA† VX‘mSX‡Â A‡ Â’Xuu A‡ wXVmSAu ‡ŒƒƒumX‡Â mx‡‹†ŒwXx‹‡ AxV XÂ…ÂŒmƒwXx‹à 3lX mxVŒ‡‹†” ƒuA”‡ A S†m‹mSAu †zuX mx mwĠz‘mxk ‹lX Â…ÂŒAum‹” z] um]X ]z† ƒA‹mXx‹‡ Â’m‹l Sl†zxmS Vm‡XA‡X‡ R” ]ASmum‹A‹mxk ‹lX VX‹XS‹mzx AxV X]]XS‹m‘X ܠXA‹wXx‹ z] SX†‹Amx Sl†zxmS SzxVm‹mzx‡à -†zVÂŒS‹ AxV ‡X†‘mSX Â…ÂŒAum‹” ‡A]X‹” wAxAkXwXx‹ AxV Suz‡X †XuA‹mzx‡lmƒ‡ Â’m‹l Vm]]X†Xx‹ ‡‹AtXlzuVX†‡ ‡ŒSl A‡ ƒl”‡mSmAx‡Â ƒA”X†‡ AxV ƒA‹mXx‹‡Â A†X tX” ‹z Xx‡Œ†mxk ‡ŒSSX‡‡]ÂŒu ĠzVÂŒS‹ SzwwX†SmAum—A‹mzx AxV wAmx‹Amxmxk A ‡zSmAu umSXx‡X ‹z zƒX†A‹XĂ 1mwmuA† ‹z z‹lX† lXAu‹lSA†X mxVŒ‡‹†mX‡Â ‹lX ‡XS‹z† lA‡ Au‡z RXXx A]]XS‹XV R” lXAu‹lSA†X †X]z†w‡ ‹lA‹ A]]XS‹ ĠmSmxkĂ‚ †XmwRŒ†‡XwXx‹ AxV Œ‹mum—A‹mzxĂ %x ‹lX z‹lX† lAxVĂ‚ X]]z†‹‡ ‹z R†zAVXx lXAu‹lSA†X Sz‘X†AkX mx XwX†kmxk wA†tX‹‡ SzŒƒuXV Â’m‹l †m‡mxk mxSzwX uX‘Xu‡ S†XA‹X xXÂ’ k†z’‹l zƒƒz†‹Œxm‹mX‡ ]z† ‹lX mxVÂŒÂ‡Â‹Â†Â”Ă 1Œ‡‹AmxARuX SzwƒAxmX‡ ]zSŒ‡ zx VX‘Xuzƒmxk lmklu” Vm]]X†Xx‹mA‹XV ĠzVÂŒS‹‡ AxV zx VXwzx‡‹†A‹mxk ‹lXm† SumxmSAu AxV XSzxzwmS ‘AuÂŒXĂ "z†Xz‘X†Â ‹lX” AVzƒ‹ Szx‡m‡‹Xx‹Â ‘AuÂŒXĂ°AxV ‡‹AtXlzuVX†ðz†mXx‹XV Sz†ƒz†A‹X ‡‹†A‹XkmX‡ AxV kz‘X†xAxSX ‡”‡‹Xw‡ RA‡XV zx X]]XS‹m‘X lÂŒwAx AxV mx‹XuuXS‹ŒAu SAƒm‹Au wAxAkXwXx‹ AxV A ܠAx‡ƒA†Xx‹ †Xƒz†‹mxk ]†AwXÂ’z†tĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą "A†tX‹mxk -†AS‹mSX‡ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą XAu‹l %Œ‹SzwX zxܠmRŒ‹mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1‹AtXlzuVX† xkAkXwXx‹

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Baxter International Inc*

United States

RobecoSAM Silver Class Medtronic Inc

United States

Coloplast A/S Elekta AB Sysmex Corp** � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

28

Assessed companies to total companies in universe (%)

57

Market capitalization of assessed 81

United Kingdom

Results at sector level

Runners up Becton Dickinson and Co

49

Number of companies assessed by RobecoSAM in 2012

companies to total market capitalization (%)

RobecoSAM Bronze Class Smith & Nephew PLC

Number of companies in universe

United States Denmark

Dimension

Average

Best

Dimension

score

score

weight

Economic

45%

74%

44%

Environmental

34%

81%

10%

Social

29%

61%

46%

Sweden Japan

As of October 31, 2012

Total score average 37% best 65% 0

82 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Mining

Driving forces 3lX wAmx ‡Œ‡‹AmxARmum‹” m‡‡ŒX ]ASmxk ‹lX wmxmxk mxVŒ‡‹†” m‡ ‹lA‹ z] VXSumxmxk z†X k†AVX‡Â Â’lmSl mwƒumX‡ ‹lA‹ z‘X† ‹mwXĂ‚ wz†X wmxX†Au z†X Â’muu xXXV ‹z RX X“‹†AS‹XV AxV ĠzSX‡‡XV mx z†VX† ‹z ĠzVÂŒSX ‹lX ‡AwX AwzÂŒx‹ z] wX‹AuĂ 3lm‡ m‡ umtXu” ‹z X“ASX†RA‹X wAx” z] ‹lX Xx‘m†zxwXx‹Au AxV ‡zSmAu m‡‡ŒX‡ ]ASmxk ‹lX wmxmxk Ă— wX‹Au‡ mxVŒ‡‹†” kzmxk ]z†’A†VĂ -†zwmxXx‹ Xx‘m†zxwXx‹Au m‡‡ŒX‡ mxSuÂŒVX wmxX†Au Â’A‡‹X wAxAkXwXx‹ A‡ Â’Xuu A‡ ‹lX wAxAkXwXx‹ z] tX” mxƒŒ‹‡ ‡ŒSl A‡ XxX†k” AxV Â’A‹X†à 1zSmAu m‡‡ŒX‡ wAmxu” SXx‹X† zx zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” A‡ Â’Xuu A‡ kXxX†Au uARz† SzxVm‹mzxÂ‡Ă Â‡Â‡ÂŒX‡ ‡ŒSl A‡ uAxV †mkl‹‡Â ƒzƒŒuA‹mzx †XuzSA‹mzx‡Â ‹lX Œ‡X z] Ġm‘A‹X ‡XSΠm‹” ]z†SX‡ ‹z Ġz‹XS‹ wmxmxk A‡‡X‹‡Â AxV wmxX Suz‡Œ†X‡ Au‡z †XwAmx Szxܠz‘X†‡mAuĂ mxAuu” AxV ‡mwmuA†u” ‹z z‹lX† X“‹†AS‹m‘X mxVŒ‡‹†mX‡Â ‹lX wmxmxk ‡ƒASX m‡ ƒA†‹mSÂŒuA†u” ‡Œ‡SXƒ‹mRuX ‹z Sz††Œƒ‹mzxĂ‚ R†mRX†” AxV z‹lX† R†XASlX‡ z] SzVX‡ z] SzxVÂŒS‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 3†Ax‡ƒA†XxS” x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą "mxX†Au :A‡‹X "AxAkXwXx‹ Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą xARumxk zSAu X‘XuzƒwXx‹ Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1zSmAu wƒAS‹‡ zx zwwÂŒxm‹mX‡

Sustainability leaders 2013

â â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Anglo American PLC* Teck Resources Ltd

Number of companies assessed by RobecoSAM in 2012

68

Canada

Assessed companies to total companies in universe (%)

47

Market capitalization of assessed

RobecoSAM Silver Class Barrick Gold Corp Gold Fields Ltd Xstrata PLC

144

United Kingdom

Canada

companies to total market capitalization (%)

84

South Africa United Kingdom

Results at sector level

RobecoSAM Bronze Class BHP Billiton Ltd Newmont Mining Corp Rio Tinto PLC

Australia United Kingdom

Runners up Agnico-Eagle Mines Ltd

Canada

Anglo American Platinum Ltd

South Africa

AngloGold Ashanti Ltd

South Africa

Eramet Freeport-McMoRan Copper & Gold Inc

Dimension

Average

Best

Dimension

score

score

weight

Economic

58%

91%

25%

Environmental

39%

83%

38%

Social

50%

90%

37%

United States

Total score

France United States

Fresnillo PLC

United Kingdom

Glencore International PLC

United Kingdom

Goldcorp Inc**

Canada

HudBay Minerals Inc

Canada

Inmet Mining Corp

Canada

Kinross Gold Corp

Canada

average 48% best 85% 0

25

50

75

100

Ă? 0zRXSz1 " 1XS‹z† XAVX† Ă?Ă? 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 83

Mobile Telecommunications

Driving forces 3lX wzRmuX ‹XuXSzwwÂŒxmSA‹mzx‡ ‡XS‹z† lA‡ SAƒm‹Aum—XV zx ‹lX k†z’‹l ƒA‹l ‡X‹ R” k†zÂ’mxk wA†tX‹ ƒXxXܠA‹mzx z] wzRmuX VX‘mSX‡ AxV ‡ŒR‡‹Ax‹mAu ‹XSlxzuzkmSAu AV‘AxSX‡ mx Â’m†XuX‡‡ SzwƒŒ‹mxkĂ ÂŒÂ‡Â‹zwX†ðV†m‘Xx ĠmSX ĠX‡‡Œ†X m‡ A k†zÂ’mxk SlAuuXxkXĂ X” ‡ŒSSX‡‡ ]AS‹z†‡ mxSuÂŒVX mxxz‘A‹mzxĂ‚ zƒX†A‹mzxAu X“SXuuXxSXĂ‚ SzlX†Xx‹ ‡X†‘mSX ƒz†‹]zumz‡ A‡ Â’Xuu A‡ A Â’XuuĂ°VX]mxXV R†AxV ‡‹†A‹Xk” SAƒARuX z] S†XA‹mxk A SzwƒX‹m‹m‘X XVkX mx A ]A‡‹ðwz‘mxk wA†tX‹ Xx‘m†zxwXx‹à #X‹’z†t AxV SAƒASm‹” wAxAkXwXx‹ ‡‹†A‹XkmX‡ wŒ‡‹ ASSzwwzVA‹X ]z† k†zÂ’mxk ܠA]]mSĂ A†X]ÂŒu lAxVumxk z] mx]z†wA‹mzx m‡ X‡‡Xx‹mAu A‡ mx‡Œ]]mSmXx‹ VA‹ARA‡X AxV xX‹’z†t Ġz‹XS‹mzx SzÂŒuV X“ƒz‡X SzwƒAxmX‡ ‹z †XƒŒ‹A‹mzxAu AxV umARmum‹” †m‡t‡Â mx SA‡X‡ z] ÂŒxAŒ‹lz†m—XV ASSX‡‡ ‹z SŒ‡‹zwX† VA‹AĂ‚ ]z† mx‡‹AxSXĂ 3lX ARmum‹” ‹z Ġz‘mVX SŒ‡‹zwm—XV ‡X†‘mSX‡ RA‡XV zx ‡‹ARuX wÂŒu‹mĂ°ÂƒÂŒÂ†Âƒz‡X XÂ…ÂŒmƒwXx‹ m‡ XwX†kmxk A‡ A tX” Vm]]X†Xx‹mA‹z†à ]]z†‹‡ ‹z R†mVkX ‹lX Vmkm‹Au Vm‘mVX lA‘X ‹z RX ‡Œƒƒz†‹XV R” ‡Xm—mxk mx‘X‡‹wXx‹ zƒƒz†‹Œxm‹mX‡ mx XwX†kmxk SzÂŒxܠmX‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą -†m‘AS” -†z‹XS‹mzx Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą uXSܠzwAkxX‹mS mXuV‡ Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą mkm‹Au xSuŒ‡mzx Ăą wƒAS‹ z] 3XuXSzwwÂŒxmSA‹mzx 1X†‘mSX‡ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class SK Telecom Co Ltd*

South Korea

RobecoSAM Bronze Class Deutsche Telekom AG Telenor ASA**

Germany Norway

Number of companies in universe

48

Number of companies assessed by RobecoSAM in 2012

27

Assessed companies to total companies in universe (%)

56

Market capitalization of assessed companies to total market capitalization (%)

88

Runners up China Mobile Ltd

China

NTT DOCOMO Inc

Japan

Sprint Nextel Corp

United States

Results at sector level Average

Best

Dimension

score

score

weight

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Economic

57%

86%

45%

Environmental

36%

93%

19%

As of October 31, 2012

Social

48%

88%

36%

Vodafone Group PLC

Dimension

United Kingdom

Total score average 50% best 88% 0

84 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Nondurable Household Products

Driving forces -†zVÂŒSX†‡ z] xzxVΠARuX lzŒ‡XlzuV ĠzVÂŒS‹‡ zƒX†A‹X mx A wÂŒu‹mĂ°R†AxV Xx‘m†zxwXx‹ mx Â’lmSl ‹lX SzwƒX‹m‹m‘X uAxV‡SAƒX m‡ V†m‘Xx R” ‡‹†zxk ĠzVÂŒS‹ R†AxV‡ AxV mxxz‘A‹m‘X SAƒARmum‹mX‡à XSAŒ‡X ‹lX” SzwX mx‹z Vm†XS‹ z† mxVm†XS‹ Szx‹AS‹ Â’m‹l ‹lX lÂŒwAx RzV” AxV XxV Œƒ mx ‹lX xA‹Œ†Au Xx‘m†zxwXx‹Â xzxVΠARuX lzŒ‡XlzuV ĠzVÂŒS‹‡ wŒ‡‹ RX Ġz‘Xx ‹z RX ‡A]X ]z† lÂŒwAx lXAu‹l AxV ‹lX Xx‘m†zxwXx‹à -†zVÂŒS‹ ‡A]X‹” SzxSX†x‡ mxS†XA‡mxku” mx]uÂŒXxSX xXÂ’ †XkÂŒuA‹mzx‡ RŒ‹ Au‡z V†m‘X xXÂ’ ĠzVÂŒS‹ mxxz‘A‹mzx‡ AxV †X]z†wÂŒuA‹mzx‡à 3lX SlAxkmxk †XkÂŒuA‹z†” Xx‘m†zxwXx‹ Au‡z lA‡ Ax mwƒAS‹ zx ĠzVÂŒS‹mzx AxV zƒX†A‹mxk Sz‡‹‡ ‹l†zÂŒkl †X‡‹†mS‹mzx‡ zx Xwm‡‡mzx‡Â XxX†k” Szx‡Œwƒ‹mzx AxV Â’A‹X† Œ‡XĂ x AVVm‹mzxĂ‚ A ‡zÂŒxV ‡‹†A‹Xk” ]z† XxkAkXwXx‹ mx XwX†kmxk wA†tX‹‡ lA‡ RXXx A tX” ‡ŒSSX‡‡ ]AS‹z† ]z† SzwƒAxmX‡ mx ‹lm‡ ‡XS‹z†à x z†VX† ‹z †XwAmx ‡ŒSSX‡‡]ÂŒuĂ‚ SzwƒAxmX‡ wŒ‡‹ AVAƒ‹ ‹lXm† ĠzVÂŒS‹ VX‘XuzƒwXx‹ AxV wA†tX‹mxk ‡‹†A‹XkmX‡ ‹z ‹lX ‡ƒXSm]mS VXwAxV‡ z] ‹lX‡X wA†tX‹‡Â AxV ]zSŒ‡ zx Ġz‘mVmxk ‘AuÂŒXĂ°AVVmxk ĠzVÂŒS‹‡ zx A ‡Œ]]mSmXx‹u” ‡wAuu ‡SAuX AxV A‹ A]]z†VARuX ĠmSX‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 1ܠA‹Xk” ]z† wX†kmxk "A†tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Henkel AG & Co KGaA*

Germany

RobecoSAM Bronze Class Reckitt Benckiser Group PLC** � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

United Kingdom

9

Number of companies assessed by RobecoSAM in 2012

5

Assessed companies to total companies in universe (%)

56

Market capitalization of assessed companies to total market capitalization (%)

93

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

69%

91%

47%

Environmental

64%

85%

21%

Social

61%

76%

32%

Total score average 65% best 84% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 85

Oil & Gas Producers

Driving forces %mu AxV kA‡ SzwƒAxmX‡Ó ARmum‹” ‹z ‡Œ‡‹Amx uzxkð‹X†w ‘AuÂŒX S†XA‹mzx Â’muu VXƒXxV zx ASSX‡‡ ‹z xX“‹ðkXxX†A‹mzx A‡‡X‹‡à zwƒAxmX‡ A†X ‡‹†Œkkumxk Â’m‹l mxS†XA‡mxk X“ƒuz†A‹mzx AxV VX‘XuzƒwXx‹ Sz‡‹‡ ‡‹Xwwmxk ]†zw ‡wAuuX† †X‡X†‘X‡ Â’m‹l SzwƒuX“ kXzuzk” mx VXXƒX† Â’A‹X†‡Â †m‡mxk ‹A“X‡Â mxS†XA‡mxk VXƒXxVXxSX zx SzÂŒxܠmX‡ Â’m‹l lmkl ƒzum‹mSAu †m‡t‡Â AxV wzÂŒx‹mxk Sz‡‹‡ z] zmu ‡X†‘mSX‡ AxV wAxƒzÂ’X†à ‡ A †X‡Œu‹Â tXXƒmxk ‹lX Sz‡‹ RA‡X VzÂ’x Â’muu RX S†ŒSmAu ]z† ‹lX mxVÂŒÂ‡Â‹Â†Â”Ă Â‡ X“ƒuz†A‹mzx wz‘X‡ ‹z †Xwz‹X AxV Xx‘m†zxwXx‹Auu” ‡Xx‡m‹m‘X uzSA‹mzx‡Â Xx‘m†zxwXx‹AuĂ‚ lXAu‹l Ă— ‡A]X‹” X“SXuuXxSXĂ‚ SzŒƒuXV Â’m‹l Ġzk†X‡‡m‘X wAxAkXwXx‹ z] ‡zSmAu m‡‡ŒX‡ Â’muu †XwAmx mwƒz†‹Ax‹ A‡ƒXS‹‡ z] XxX†k” SzwƒAxmX‡Ó uzxkð‹X†w Ġz]m‹ARmum‹”à ‡ ]z† Xx‘m†zxwXx‹Au m‡‡ŒX‡Â ‹lX SA†Rzx SlAuuXxkX Szx‹mxÂŒX‡ ‹z ‹zƒ ‹lX AkXxVAĂ S‹m‘X Sz†ƒz†A‹X ‡‹†A‹XkmX‡ ‹lA‹ ‡XXt zŒ‹ †XuA‹XV RŒ‡mxX‡‡ zƒƒz†‹Œxm‹mX‡ AxV wm‹mkA‹X SA†Rzx †m‡t‡ Â’muu RX S†m‹mSAu ‹z ‡XSΠmxk SzwƒAxmX‡Ó ]Œ‹Œ†X SzwƒX‹m‹m‘XxX‡‡à ‡ ƒzz†X† SzÂŒxܠmX‡ Â’m‹l Â’XAtX† kz‘X†xAxSX mxS†XA‡mxku” VzwmxA‹X xXÂ’ †X‡X†‘X Vm‡Sz‘X†mX‡Â XxkAkXwXx‹ Â’m‹l uzSAu SzwwÂŒxm‹mX‡ ‡lzÂŒuV kAmx mwƒz†‹AxSX A‡ Ax mwƒz†‹Ax‹ SzwƒzxXx‹ z] ‡Œ‡‹AmxARuX †m‡t wAxAkXwXx‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą “ƒuz†A‹mzx Ă— -†zVÂŒS‹mzx Ăą A‡ -z†‹]zumz Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą mzVm‘X†‡m‹” Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą 0XuXA‡X‡ ‹z ‹lX x‘m†zxwXx‹ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1zSmAu wƒAS‹‡ zx zwwÂŒxm‹mX‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class Repsol SA*

Spain

RobecoSAM Silver Class BG Group PLC Eni SpA Galp Energia SGPS SA**

United Kingdom Italy

Colombia

Santos Ltd

Australia Australia

Cenovus Energy Inc

Canada

Encana Corp

Canada Hungary

Neste Oil OYJ

Finland

Nexen Inc

Canada

Petroleo Brasileiro SA PTT PCL S-Oil Corp

South Korea

Statoil ASA

Norway

Suncor Energy Inc

Canada

As of October 31, 2012 86 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

87

Dimension

Average

Best

Dimension

score

score

weight

Economic

61%

83%

42%

Environmental

41%

91%

27%

Social

51%

91%

31%

Total score average 53% best 85%

Thailand South Africa

Thai Oil PCL

companies to total market capitalization (%)

Brazil

Sasol Ltd

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Market capitalization of assessed

France

Runners up

MOL Hungarian Oil and Gas PLC

50

Results at sector level

Ecopetrol SA

Woodside Petroleum Ltd

73

Assessed companies to total companies in universe (%)

Portugal

RobecoSAM Bronze Class

Total SA

146

Number of companies assessed by RobecoSAM in 2012

Thailand

0

25

50

75

100

Oil Equipment & Services

Driving forces ‡ ‡ŒRSzxܠAS‹z†‡ ‹z ‹lX zmu AxV kA‡ wAsz†‡ AxV mxVXƒXxVXx‹ X“ƒuz†A‹mzx AxV ĠzVÂŒS‹mzx ĂŁ Ă—-ĂŠ k†zÂŒÂƒÂ‡Ă‚ XÂ…ÂŒmƒwXx‹ AxV ‡X†‘mSX SzwƒAxmX‡ wŒ‡‹ AVlX†X ‹z ‹lX ‡‹†mS‹X‡‹ Xx‘m†zxwXx‹AuĂ‚ lXAu‹l Ă— ‡A]X‹” ĂŁ 1ĂŠ ‡‹AxVA†V‡ mx z†VX† ‹z Â’mx SzxܠAS‹‡à m‘Xx SzxSX†x‡ z‘X† †XƒŒ‹A‹mzxAu †m‡t mx ‹lX X“ƒuz†A‹mzx AxV ĠzVÂŒS‹mzx ‡XS‹z†Â ‹lX‡X SzwƒAxmX‡ A†X R” VX]AÂŒu‹ ‡A]XkÂŒA†Vmxk ‹lX R†AxV z] ‹lX wAsz†‡à ‡ A †X‡Œu‹Â 1 X“SXuuXxSX AxV ‹lX †X‡ƒzx‡mRuX wAxAkXwXx‹ z] ‡zSmAu AxV ƒzum‹mSAu m‡‡ŒX‡ mx lmklu” ‡Xx‡m‹m‘X A†XA‡ †XĠX‡Xx‹ S†m‹mSAu ‡ŒSSX‡‡ ]AS‹z†‡à 3XSlxzuzkmSAu mxxz‘A‹mzx V†m‘X‡ ‹lX Ġz]m‹ARmum‹” z] V†muumxk SzwƒAxmX‡ A‡ AV‘AxSXV ‡Xm‡wmS AxV VXXÂƒĂ°Â’A‹X† ‹XSlxzuzkmX‡ RXSzwX ‹lX xXÂ’ ]†zx‹mX†‡ AkAmx‡‹ A RAStV†zƒ z] mxS†XA‡mxku” ‡wAuuX† AxV uX‡‡ ASSX‡‡mRuX zmu ]mXuV‡à 3lX ‡XS‹z† Szx‹mxÂŒX‡ ‹z RX SlAuuXxkXV zx ‹lX lÂŒwAx †X‡zΠSX‡ ]†zx‹Â Â’m‹l Ax Akmxk Â’z†t]z†SX AxV Ax mx‡Œ]]mSmXx‹ xÂŒwRX† z] xXÂ’u” ܠAmxXV AxV Â…ÂŒAum]mXV ƒXܠzuXÂŒwĂ° †XuA‹XV k†AVÂŒA‹X‡à 3lX RzzwĂ°AxVĂ°RŒ‡‹ ƒA‹‹X†x‡ ‹lA‹ lA‘X SlA†AS‹X†m—XV ‹lX ‡XS‹z† mx ‹lX ƒA‡‹ lA‘X Ġzwƒ‹XV wAx” ܠAmxXV XxkmxXX†‡ ‹z uXA‘X ‹lX ‡XS‹z†à ‡ A †X‡Œu‹Â Â’m‹l z†VX† Rzzt‡ A‹ †XSz†V lmkl‡Â A ‡lz†‹AkX z] XxkmxXX†‡ †XwAmx‡ A †XAu SlAuuXxkXĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0XuXA‡X‡ ‹z ‹lX x‘m†zxwXx‹ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1‹AtXlzuVX† xkAkXwXx‹

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class AMEC PLC*

United Kingdom

RobecoSAM Silver Class

Number of companies in universe

54

Number of companies assessed by RobecoSAM in 2012

23

Assessed companies to total companies in universe (%)

43

Halliburton Co

United States

Market capitalization of assessed

Schlumberger Ltd

United States

companies to total market capitalization (%)

78

RobecoSAM Bronze Class Technip SA

France

Results at sector level

Runners up Baker Hughes Inc** Cie Generale de Geophysique - Veritas SBM Offshore NV SembCorp Industries Ltd

United States

Dimension

Average

Best

Dimension

score

score

weight

Economic

63%

82%

35%

France Netherlands

Environmental

27%

81%

26%

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Singapore

Social

45%

78%

39%

As of October 31, 2012

Total score average 47% best 77% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 87

Personal Products

Driving forces -X†‡zxAu ĠzVÂŒS‹‡ SzwƒAxmX‡ zƒX†A‹X mx A wÂŒu‹mĂ°R†AxV Xx‘m†zxwXx‹ Â’lz‡X SzwƒX‹m‹m‘X uAxV‡SAƒX m‡ ‡lAƒXV R” ‡‹†zxk R†AxV‡ AxV lmkl mxxz‘A‹mzx SAƒARmum‹mX‡à zxSX†x‡ z‘X† ĠzVÂŒS‹ ‡A]X‹” mxS†XA‡mxku” mx]uÂŒXxSX xXÂ’ †XkÂŒuA‹mzx‡ AxV V†m‘X †X‡ƒzx‡mRuX ‡zΠSmxkĂ‚ xXÂ’ ĠzVÂŒS‹ mxxz‘A‹mzx‡ AxV †X]z†wÂŒuA‹mzx‡à 3lX SlAxkmxk †XkÂŒuA‹z†” Xx‘m†zxwXx‹ Au‡z lA‡ Ax mwƒAS‹ zx ĠzVÂŒS‹mzx AxV zƒX†A‹mxk Sz‡‹‡ ‹l†zÂŒkl †X‡‹†mS‹mzx‡ zx Xwm‡‡mzx‡Â XxX†k” Szx‡Œwƒ‹mzx AxV Â’A‹X† Œ‡XĂ 3lX ĠmSmxk ‡‹†A‹Xk” z] ‹lX ƒX†‡zxAu ĠzVÂŒS‹‡ SzwƒAxmX‡ wŒ‡‹ RX ]uX“mRuX XxzÂŒkl ‹z AVAƒ‹ ‹z ‹lX Vm]]X†Xx‹ wA†tX‹ Xx‘m†zxwXx‹‡ mx Rz‹l ‹lX VX‘XuzƒXV Â’z†uV AxV XwX†kmxk wA†tX‹‡à ASXV Â’m‹l ĠmSX ‘zuA‹mum‹” z] †AÂ’ wA‹X†mAu‡Â SzwƒAxmX‡ wŒ‡‹ ‹z zƒ‹mwm—X ‹lXm† Sz‡‹ ‡‹†ŒS‹Œ†X‡ Â’m‹lzŒ‹ SzwĠzwm‡mxk zx wA†tX‹mxk ‡ƒXxVmxk AxV R†AxV ‡‹†A‹XkmX‡à 3z ‡ŒSSX‡‡]ÂŒuu” kAmx AxV wAmx‹Amx wA†tX‹ ‡lA†X mx ‹lX XwX†kmxk wA†tX‹‡Â SzwƒAxmX‡ wŒ‡‹ z]]X† A]]z†VARuX ĠzVÂŒS‹‡ AVAƒ‹XV ‹z uzSAu xXXV‡ AxV ‹A‡‹X‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą 1ܠA‹Xk” ]z† wX†kmxk "A†tX‹‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

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Sector statistics

RobecoSAM Gold Class Amorepacific Corp*

South Korea

RobecoSAM Silver Class Colgate-Palmolive Co

United States

LG Household & Health Care Ltd Svenska Cellulosa AB**

23

Number of companies assessed by RobecoSAM in 2012

12

Assessed companies to total companies in universe (%)

52

Market capitalization of assessed companies to total market capitalization (%)

RobecoSAM Bronze Class Kimberly-Clark Corp

Number of companies in universe

80

United States South Korea

Results at sector level

Sweden

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Dimension

Average

Best

Dimension

score

score

weight

Economic

67%

87%

As of October 31, 2012

47%

Environmental

69%

87%

21%

Social

63%

81%

32%

Total score average 66% best 82% 0

88 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Pharmaceuticals

Driving forces 3lX mxxz‘A‹mzxĂ°V†m‘Xx ƒlA†wASXŒ‹mSAu mxVŒ‡‹†” †XumX‡ zx ‹lX VX‘XuzƒwXx‹ z] xz‘Xu V†Œk‡ Â’m‹l lmkl ‡AuX‡ ƒz‹Xx‹mAuĂ X‡ƒm‹X uA†kX mx‘X‡‹wXx‹‡ mx 0Ă— Ă‚ ‹lX mxVŒ‡‹†” lA‡ X“ƒX†mXxSXV VXSumxmxk 0Ă— ĠzVÂŒS‹m‘m‹” z‘X† ‹lX uA‡‹ VXSAVXĂ‚ †X‡Œu‹mxk mx umwm‹XV ƒmƒXumxXÂ‡Ă ÂŒÂ†Â‹lX†Â ]zuuzÂ’mxk ƒA‹Xx‹ X“ƒm†A‹mzx‡ ]z† wAx” z] ‹lXm† RuzStRŒ‡‹X† ĠzVÂŒS‹‡Â wAx” SzwƒAxmX‡ lA‘X uz‡‹ z† A†X uz‡mxk †X‘XxÂŒX‡ ‹z SzwƒX‹m‹mzx ]†zw kXxX†mSÂ‡Ă Â“ÂƒuzVmxk lXAu‹lSA†X Sz‡‹‡ lA‘X V†m‘Xx †X‡zΠSXĂ° Szx‡‹†AmxXV kz‘X†xwXx‹‡ ‹z SŒ‹ lXAu‹lSA†X RÂŒVkX‹‡Â ƒŒ‹‹mxk ĠX‡‡Œ†X zx V†Œk ĠmSmxkĂ x AVVm‹mzxĂ‚ ƒA”X†‡ A†X mxS†XA‡mxku” X‘AuÂŒA‹mxk ‹lX Sz‡‹ðX]]XS‹m‘XxX‡‡ AxV Sz‡‹ðRXxX]m‹‡ z] ƒlA†wASXŒ‹mSAu ĠzVÂŒS‹‡ ‹z VX‹X†wmxX ĠmSmxk AxV †XmwRŒ†‡XwXx‹ VXSm‡mzx‡à 3z †X‹Œ†x ‹z k†z’‹lĂ‚ ĠX‡X†‘X Ġz]m‹ARmum‹” AxV kXxX†A‹X lmklX† †X‹Œ†x‡Â ƒlA†wASXŒ‹mSAu SzwƒAxmX‡ wŒ‡‹ Xwƒuz” X]]XS‹m‘X mxxz‘A‹mzx wAxAkXwXx‹ ‹z ]zSŒ‡ zx VX‘Xuzƒmxk mxxz‘A‹m‘X V†Œk‡ ‹lA‹ AVV†X‡‡ ÂŒxwX‹ wXVmSAu xXXV‡à X” SlAuuXxkX‡ mxSuÂŒVX ‹lX SumxmSAu AxV Sz‡‹ X]]XS‹m‘XxX‡‡ z] V†Œk‡Â ƒA‹mXx‹ ASSX‡‡ ‹z AxV SzwƒumAxSX Â’m‹l ‹lX†AƒXŒ‹mS ܠXA‹wXx‹‡Â A‡ Â’Xuu A‡ SlAxkmxk Vm‡‹†mRŒ‹mzx wzVXu‡à x AVVm‹mzxĂ‚ ƒlA†wASXŒ‹mSAu SzwƒAxmX‡ Au‡z ]ASX X‹lmSAu Vm‡SŒ‡‡mzx‡ †XuA‹XV ‹z wA†tX‹mxk ĠAS‹mSX‡Â V†Œk ‡A]X‹” AxV Â…ÂŒAum‹” AxV ƒlA†wASzkXxzwmS‡Ă

Sustainability leaders 2013

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Switzerland

RobecoSAM Silver Class AstraZeneca PLC Novo Nordisk A/S**

SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą xxz‘A‹mzx "AxAkXwXx‹ Ăą "A†tX‹mxk -†AS‹mSX‡ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą VV†X‡‡mxk z‡‹ ΠVXx Ăą XAu‹l %Œ‹SzwX zxܠmRŒ‹mzx Ăą 1ܠA‹Xk” ‹z wĠz‘X SSX‡‡ ‹z †Œk‡ z† -†zVÂŒS‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sector statistics

RobecoSAM Gold Class Roche Holding AG*

Highlighted criteria

United Kingdom Denmark

Number of companies in universe

77

Number of companies assessed by RobecoSAM in 2012

37

Assessed companies to total companies in universe (%)

48

Market capitalization of assessed companies to total market capitalization (%)

88

RobecoSAM Bronze Class Novartis AG

Switzerland

Results at sector level

Runners up Abbott Laboratories

United States

Allergan Inc

United States

Bristol-Myers Squibb Co

United States

GlaxoSmithKline PLC

United Kingdom

Johnson & Johnson

United States

Merck & Co Inc

United States

Sanofi

France

Dimension

Average

Best

Dimension

score

score

weight

Economic

52%

87%

44%

Environmental

50%

89%

10%

Social

44%

89%

46%

Total score

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

average 48%

As of October 31, 2012

best 87% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 89

Pipelines

Driving forces 3lX xXXV ‹z ܠAx‡ƒz†‹ XxX†k” Ăą Rz‹l ]z‡‡mu ]ÂŒXu‡ AxV †XxXÂ’ARuX‡ Ăą ]†zw ƒzum‹mSAuu” AxV Xx‘m†zxwXx‹Auu” ‡Xx‡m‹m‘X A†XA‡ ‹z VXwAxVĂ°mx‹Xx‡m‘X kXzk†AƒlmS †Xkmzx‡ m‡ V†m‘mxk ‘AuÂŒX S†XA‹mzx mx ‹lX ƒmƒXumxX ‡XS‹z†à 3z wmxmwm—X ]Œ‹Œ†X Xx‘m†zxwXx‹Au Sz‡‹‡Â ƒmƒXumxX SzwƒAxmX‡ xXXV ‹z AVzƒ‹ ‡‹A‹XĂ°z]ð‹lXĂ°A†‹ wAxAkXwXx‹ ‡”‡‹Xw‡ ‹z ĠX‘Xx‹ uXAtAkX‡ AxV Xwm‡‡mzx‡ Auzxk ‹lXm† ƒmƒXumxX‡Â ‡Œƒƒz†‹XV R” wzVX†x †m‡t AxV S†m‡m‡ wAxAkXwXx‹ ‡”‡‹Xw‡à "z†Xz‘X†Â ‹lX ‡XSΠm‹” z] ƒmƒXumxX ‡”‡‹Xw‡ m‡ ‘m‹Au ‹z Xx‡Œ†mxk A Szx‡‹Ax‹ XxX†k” ‡Œƒƒu” ]†zw ƒzum‹mSAuu” ‡Xx‡m‹m‘X †Xkmzx‡à ‡ A †X‡Œu‹Â lÂŒwAx †mkl‹‡ m‡‡ŒX‡ AxV ‡‹AtXlzuVX† SzwwÂŒxmSA‹mzx A†X RXSzwmxk mxS†XA‡mxku” mwƒz†‹Ax‹ mx ƒuAxxmxk AxV zƒX†A‹mxk ƒmƒXumxX‡ mx XwX†kmxk XSzxzwmX‡à ” AVzƒ‹mxk A Ġzk†X‡‡m‘X SzwwÂŒxm‹” †XuA‹mzx‡ wAxAkXwXx‹ ‡”‡‹XwĂ‚ ƒmƒXumxX SzwƒAxmX‡ SAx †XVÂŒSX ‹lXm† X“ƒz‡Œ†X ‹z lÂŒwAx †mkl‹‡ †m‡t‡ AxV SŒ‹ ‹lXm† zƒX†A‹mxk Sz‡‹‡Â ‹lX†XR” kAmxmxk A ‡Œ‡‹AmxARuX SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą m‘X†‡m]mSA‹mzx Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0XuXA‡X‡ ‹z ‹lX x‘m†zxwXx‹ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1zSmAu wƒAS‹‡ zx zwwÂŒxm‹mX‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

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Sector statistics Number of companies in universe

RobecoSAM Gold Class Enbridge Inc*/**

Canada

RobecoSAM Silver Class TransCanada Corp � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012

Canada

9

Number of companies assessed by RobecoSAM in 2012

5

Assessed companies to total companies in universe (%)

56

Market capitalization of assessed companies to total market capitalization (%)

77

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

61%

82%

38%

Environmental

35%

71%

24%

Social

44%

75%

38%

Total score average 48% best 72% 0

90 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Real Estate

Driving forces 3lX †XAu X‡‹A‹X mxVŒ‡‹†” m‡ A lX‹X†zkXxXzŒ‡ ‡XS‹z† SzwĠm‡mxk VX‘XuzƒX†‡ AxV wAmx‹XxAxSX Ġz]X‡‡mzxAu‡ A‡ Â’Xuu A‡ †X‡mVXx‹mAu AxV SzwwX†SmAu ĠzƒX†‹” wAxAkX†‡ AxV mx‘X‡‹z†‡à umwA‹X SlAxkX AxV XxX†k” X]]mSmXxS” A†X z] k†XA‹ mwƒz†‹AxSX ]z† ‹lm‡ ‡XS‹z†à 0m‡mxk XxX†k” Sz‡‹‡ lA‘X wAVX ‹lX AwzÂŒx‹ z] zƒX†A‹mzxAu XxX†k” Œ‡XV mx RÂŒmuVmxk‡ A S†ŒSmAu ]AS‹z† mx VX‹X†wmxmxk ‹lXm† A‹‹†AS‹m‘XxX‡‡à zÂ’Ă°XxX†k” RÂŒmuVmxk‡ ‹lA‹ Œ‡X mxxz‘A‹m‘X wA‹X†mAu‡ †XVÂŒSX ‹lX mwƒAS‹ z] ‘zuA‹muX XxX†k” ĠmSX‡ zx ‹lX Sz‡‹ z] wAxAkXwXx‹ AxV zÂ’xX†‡lmƒ z] A ĠzƒX†‹”à 3lm‡ †X‡Œu‹‡ mx lmkl VXwAxV ]z† †X‡mVXx‹mAuĂ‚ SzwwX†SmAu AxV mxVŒ‡‹†mAu k†XXx RÂŒmuVmxk‡à zwwX†SmAu ‹XxAx‹‡ mxS†XA‡mxku” ‡XXt uzÂ’Ă°XxX†k” RÂŒmuVmxk‡ ‹z wXX‹ ‹lXm† ‡Œ‡‹AmxARmum‹” Szwwm‹wXx‹‡ AxV ‡‹†Xxk‹lXx ‹lXm† R†AxVĂ x AVVm‹mzxĂ‚ ‹lX VX‘XuzƒwXx‹ z] ‡‹†mS‹ XxX†k”ðX]]mSmXxS” †XkÂŒuA‹mzx‡ ]z† RÂŒmuVmxk‡Â mxSuÂŒVmxk ‹lX mxܠzVÂŒS‹mzx z] XxX†k” ƒX†]z†wAxSX SX†‹m]mSA‹X‡ mx ΠzƒXĂ‚ m‡ ]Œ†‹lX† V†m‘mxk VXwAxV ]z† ‡Œ‡‹AmxARuX RÂŒmuVmxk‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą x‹m‹†Œ‡‹ -zumS” Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą ÂŒmuVmxk "A‹X†mAu‡ Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą 0X‡zΠSX zx‡X†‘A‹mzx AxV 0X‡zΠSX ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1zSmAu x‹Xk†A‹mzx Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

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Sector statistics Number of companies in universe

RobecoSAM Gold Class GPT Group*

Australia

RobecoSAM Silver Class Stockland

Australia

British Land Co PLC

United Kingdom

Capital Shopping Centres Group PLC

United Kingdom

CFS Retail Property Trust City Developments Ltd Commonwealth Property Office Fund Corio NV

Australia Australia Netherlands

Fonciere Des Regions

France

Gecina SA

France

Keppel Land Ltd Klepierre Land Securities Group PLC

Average

Best

Dimension

score

score

weight

Economic

60%

92%

31%

Environmental

37%

90%

39%

Social

34%

92%

30%

Total score average 43% best 91%

France United Kingdom Australia

0

25

50

75

100

Japan United States United Kingdom

Tokyu Land Corp**

Japan

Unibail-Rodamco SE

France

Weyerhaeuser Co

Dimension

Singapore

Australia

Shaftesbury PLC

Results at sector level

Hong Kong

Mirvac Group ProLogis Inc

76

United Kingdom

Lend Lease Group Mitsubishi Estate Co Ltd

Market capitalization of assessed

Singapore

Australia

Hysan Development Co Ltd

52

Singapore

Dexus Property Group

Hammerson PLC

90

Assessed companies to total companies in universe (%) companies to total market capitalization (%)

Runners up

CapitaLand Ltd

172

Number of companies assessed by RobecoSAM in 2012

United States

Ă? 0zRXSz1 " 1XS‹z† XAVX† Ă?Ă? 0zRXSz1 " 1XS‹z† "z‘X† As of October 31, 2012 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 91

Renewable Energy Equipment

Driving forces XwAxV ]z† XxX†k” ]†zw Au‹X†xA‹m‘X ã†XxXÂ’ARuXĂŠ ‡zΠSX‡ m‡ ‡‹muu ĠmwA†mu” V†m‘Xx R” kz‘X†xwXx‹ ‡Œƒƒz†‹ mx ‹lX ]z†w z] ]XXVĂ°mx ‹A†m]]‡ AxV z‹lX† mxSXx‹m‘X wXSlAxm‡w‡ ‡ŒSl A‡ ‹A“ S†XVmÂ‹Â‡Ă ÂŒX ‹z ‹lX lmklX† Sz‡‹ z] Au‹X†xA‹m‘X XxX†k” ‹lX‡X mxSXx‹m‘X‡ A†X SŒ††Xx‹u” †XÂ…ÂŒm†XV ‹z ‡‹mwÂŒuA‹X mx‘X‡‹wXx‹‡ mx ‹lX ‡XS‹z†Â RŒ‹ kzmxk ]z†’A†VĂ‚ VXƒXxVXxSX zx ‡ŒSl mxSXx‹m‘X‡ m‡ X“ƒXS‹XV ‹z VXS†XA‡X km‘Xx ‹lX †AƒmVu” VXSumxmxk Sz‡‹‡ AxV mxS†XA‡mxk X]]mSmXxSmX‡ mx ‡zwX z] ‹lX wz†X X“ƒXx‡m‘X ‹XSlxzuzkmX‡ Ăą ‡zuA† mx ƒA†‹mSÂŒuA†à "z†X wA‹Œ†X ‹XSlxzuzkmX‡ ‡ŒSl A‡ Â’mxV ‡‹muu z]]X† ƒz‹Xx‹mAu ]z† X]]mSmXxS” XxlAxSXwXx‹‡Â RŒ‹ ‹lX wAmx ]zSŒ‡ Â’muu RX zx mwĠz‘mxk ‹Œ†RmxX Â…ÂŒAum‹”à :m‹l mwĠz‘mxk XSzxzwmS‡ AxV mxS†XA‡mxk kz‘X†xwXx‹ ‡Œƒƒz†‹ mx VX‘Xuzƒmxk wA†tX‹‡Â ƒA†‹mSÂŒuA†u” mx lmxAĂ‚ Au‹X†xA‹m‘X XxX†k” m‡ umtXu” ‹z SzwwAxV A k†zÂ’mxk ‡lA†X z] ‹lX kuzRAu XuXSܠmSm‹” wm“à m‘Xx ‡‹†zxk k†z’‹l ĠzsXS‹mzx‡ ]z† ‹lX ‡XS‹z†Â m‹ m‡ mxS†XA‡mxku” mwƒz†‹Ax‹ ‹z X“AwmxX lzÂ’ SzwƒAxmX‡ SzxVÂŒS‹ ‹lXm† RŒ‡mxX‡‡ AS‹m‘m‹mX‡ AxV Â’lX‹lX† ‹lX” A†X wAxAkmxk ‹lXm† k†z’‹l mx A ‡Œ‡‹AmxARuX wAxxX†Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSXĂŞ z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

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Sector statistics Number of companies in universe

RobecoSAM Gold Class Gamesa Corp Tecnologica SA*

Spain

RobecoSAM Bronze Class Vestas Wind Systems A/S � 0zRXSz1 " 1XS‹z† XAVX† As of October 31, 2012

Denmark

6

Number of companies assessed by RobecoSAM in 2012

5

Assessed companies to total companies in universe (%)

83

Market capitalization of assessed companies to total market capitalization (%)

85

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

56%

75%

41%

Environmental

42%

63%

29%

Social

56%

76%

30%

Total score average 52% best 72% 0

92 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Semiconductors

Driving forces zSA‹XV A‹ ‹lX ‹zƒ z] ‹lX ‘AuÂŒX SlAmxĂ‚ ‹lX ‡XwmSzxVÂŒS‹z† ‡XS‹z† ƒuA”‡ A S†m‹mSAu †zuX mx ‹lX XuXSܠzxmS mxVÂŒÂ‡Â‹Â†Â”Ă 3lX†X]z†X m‹ wŒ‡‹ Szx‹mxÂŒzŒ‡u” mxxz‘A‹X ‹z †X‡ƒzxV ‹z ‹lX xXXV ]z† †X‡zΠSX X]]mSmXxS” AxV wmxmA‹Œ†m—A‹mzxĂ 3lX wAmx m‡‡ŒX‡ mxSuÂŒVX XxX†k”ðX]]mSmXx‹ ĠzVÂŒS‹mzx ĠzSX‡‡X‡ AxV uzÂ’ XxX†k” Szx‡Œwƒ‹mzx Slmƒ‡ AxV ĠzSX‡‡z†‡à /ÂŒAum‹” ƒX†]z†wAxSX AxV †XumARmum‹” wŒ‡‹ RX wzxm‹z†XV ‹l†zÂŒklzŒ‹ ‹lX Xx‹m†X ‘AuÂŒX SlAmxĂ 3lX ‡XS‹z† Au‡z wŒ‡‹ AVV†X‡‡ ‹lX Xx‘m†zxwXx‹Au mwƒAS‹‡ z] m‹‡ zÂ’x zƒX†A‹mzx‡ R” †XVÂŒSmxk ‹lX Œ‡X z] SlXwmSAu‡ AxV lA—A†VzŒ‡ ‡ŒR‡‹AxSX‡Â kXxX†A‹mxk uX‡‡ Â’A‡‹XĂ‚ R” XxlAxSmxk ‹lX XxX†k” X]]mSmXxS” z] ÂŒuܠAĂ°SuXAx ‡ƒASX‡Â AxV R” †XVÂŒSmxk Szx‡Œwƒ‹mzx z] ÂŒuܠAĂ°ÂƒÂŒÂ†X Â’A‹X†à mklĂ°Â…ÂŒAum‹” †X‡XA†Sl AxV VX‘XuzƒwXx‹ A†X mwƒz†‹Ax‹ ‡ŒSSX‡‡ ]AS‹z†‡ A‡ ‡l†mxtAkXĂ‚ wmk†A‹mzx ‹z xXÂ’ wA‹X†mAu‡ AxV ‹lX mxܠzVÂŒS‹mzx z] wz†X X]]mSmXx‹ ĠzVÂŒS‹mzx ĠzSX‡‡X‡ A†X ‹lX VzwmxAx‹ ܠXxV‡à zx‡mVX†mxk ‹lX uzxk uXAV ‹mwX z] SAƒASm‹” X“‹Xx‡mzx‡Â ‹lX ‡XwmSzxVÂŒS‹z† ‡XS‹z†Ó‡ X“‹†XwX S”SumSAum‹” m‡ ]z†Smxk SzwƒAxmX‡ ‹z ƒA” Suz‡X A‹‹Xx‹mzx ‹z ‡‹†A‹XkmS ƒuAxxmxk AxV RŒ‡mxX‡‡ S”SuX wAxAkXwXx‹à zwƒAxmX‡ lA‘X ‹z Szx‹mxÂŒAuu” A‹‹†AS‹ xXÂ’ ‹AuXx‹ ‹z Xx‡Œ†X ‹lXm† uzxkð‹X†w SAƒASm‹” ‹z mxxz‘A‹XĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSXĂŞ z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą -†zVÂŒS‹ /ÂŒAum‹” AxV 0XSAuu "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą -†zVÂŒS‹ 1‹XÂ’A†V‡lmƒ Ăą :A‹X† 0XuA‹XV 0m‡t‡ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1zSmAu 0Xƒz†‹mxk

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Taiwan Semiconductor Manufacturing Co Ltd*

Taiwan

RobecoSAM Silver Class Intel Corp Samsung Electronics Co Ltd

United States

Number of companies in universe

54

Number of companies assessed by RobecoSAM in 2012

29

Assessed companies to total companies in universe (%)

54

Market capitalization of assessed

South Korea

companies to total market capitalization (%)

South Korea

Results at sector level

89

RobecoSAM Bronze Class SK Hynix Inc United Microelectronics Corp

Taiwan

Runners up Advanced Micro Devices Inc** ASML Holding NV Infineon Technologies AG

Dimension

Average

Best

Dimension

score

score

weight

Economic

56%

87%

40%

United States Netherlands

Environmental

44%

92%

35%

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Germany

Social

45%

84%

25%

As of October 31, 2012

Total score average 49% best 87% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 93

Software

Driving forces 3lX ‡z]‹’A†X ‡XS‹z† m‡ SlA†AS‹X†m—XV R” A ]AÂ‡Â‹Ă°ÂƒASXV wA†tX‹ Xx‘m†zxwXx‹ mx Â’lmSl ‹lX ‡ƒXXV z] mxxz‘A‹mzx †XĠX‡Xx‹‡ A tX” ‡ŒSSX‡‡ ]AS‹z†à XSAŒ‡X mxxz‘A‹mzx m‡ Suz‡Xu” umxtXV ‹z lÂŒwAx SAƒm‹AuĂ‚ X]]mSmXx‹ lÂŒwAx †X‡zΠSX wAxAkXwXx‹ m‡ ‘m‹Au ‹z A‹‹†AS‹mxk AxV †X‹Amxmxk Â…ÂŒAum]mXV ‡‹A]]Ă m‘Xx †AƒmVu” R†zAVXxmxk SŒ‡‹zwX† xXXV‡Â ‡z]‹’A†X SzwƒAxmX‡ wŒ‡‹ AVAƒ‹ ‹lXm† ‡zuŒ‹mzx‡ ‹z ASSzwƒum‡l wz†X ‡ƒXSm]mS AxV SŒ‡‹zwm—XV ‹A‡t‡ Â’lmuX tXXƒmxk VX‘XuzƒwXx‹ Sz‡‹‡ ÂŒxVX† SzxܠzuĂ xS†XA‡mxk SzwƒX‹m‹mzx ]†zw XwX†kmxk wA†tX‹‡ †XÂ…ÂŒm†X‡ SzwƒAxmX‡ ‹z AVV†X‡‡ mx‹XuuXS‹ŒAu ĠzƒX†‹” m‡‡ŒX‡à x AVVm‹mzxĂ‚ SzwƒAxmX‡ wŒ‡‹ Xx‡Œ†X VA‹A ‡XSΠm‹” A‡ A k†zÂ’mxk AwzÂŒx‹ z] Szx]mVXx‹mAu VA‹A m‡ ĠzSX‡‡XVĂ m‘Xx ‹lX ÂŒRmÂ…ÂŒm‹” z] ‡z]‹’A†X mx VAmu” um]XĂ‚ mxxz‘A‹m‘X AxV Vm]]X†Xx‹mA‹XV Vm‡‹†mRŒ‹mzx wzVXu‡ A†X kAmxmxk mwƒz†‹AxSXĂ :mVX‡ƒ†XAV x‹X†xX‹ ASSX‡‡Â ]z† X“AwƒuXĂ‚ S†XA‹X‡ xXÂ’ zƒƒz†‹Œxm‹mX‡ mx ‹lX A†XA z] Ă?‡z]‹’A†X A‡ A ‡X†‘mSXĂ Ă‘ x AVVm‹mzxĂ‚ ‡z]‹’A†X SzwƒAxmX‡ wŒ‡‹ mxS†XA‡mxku” wAtX Ax X]]z†‹ ‹z A‹‹†AS‹ X“‹X†xAu VX‘XuzƒX†‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 3 1XSΠm‹” Ăą -†m‘AS” -†z‹XS‹mzx Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą mkm‹Au xSuŒ‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â

Sector statistics

RobecoSAM Gold Class SAP AG*

Germany

Runners up

Number of companies in universe

40

Number of companies assessed by RobecoSAM in 2012

20

Assessed companies to total companies in universe (%)

50

Autodesk Inc

United States

Market capitalization of assessed

CA Inc

United States

companies to total market capitalization (%)

Invensys PLC

88

United Kingdom

Microsoft Corp**

United States

Symantec Corp

United States

Results at sector level

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Dimension

Average

Best

Dimension

score

score

weight

Economic

53%

87%

As of October 31, 2012

52%

Environmental

37%

87%

20%

Social

35%

79%

28%

Total score average 45% best 84% 0

94 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Specialized Consumer Services

Driving forces 3lX ‡XS‹z† SzwĠm‡X‡ ‡X†‘mSX Ġz‘mVX†‡ Â’m‹l A Â’mVX †AxkX z] RŒ‡mxX‡‡X‡ wzVXu‡ AxV AS‹m‘m‹mX‡à zwwzx ‹z Auu SzwƒAxmX‡ mx ‹lX ‡XS‹z†Â lzÂ’X‘X†Â m‡ ‹lXm† Vm†XS‹ †XuA‹mzx‡lmƒ Â’m‹l SŒ‡‹zwX†‡Â z]‹Xx mx‹X†AS‹mxk Vm†XS‹u” Â’m‹l mxVm‘mVÂŒAu SŒ‡‹zwX†‡à 1XS‹zÂ†Ă°Â‡ÂƒXSm]mS SlAuuXxkX‡ mxSuÂŒVX ‹lX xXXV ‹z Rz‹l †X‹Amx AxV mxS†XA‡X ‹lX SŒ‡‹zwX† RA‡X Â’lmuX X“ƒAxVmxk mx‹z xXÂ’ wA†tX‹‡Â AxV ‹z Szx‹mxÂŒzŒ‡u” ܠAmx Xwƒuz”XX‡ AxV mwĠz‘X SŒ‡‹zwX† ‡A‹m‡]AS‹mzxĂ z† ‹lm‡ †XA‡zxĂ‚ SzwƒAxmX‡ ‡lzÂŒuV ‡XXt ‹z ‡‹†Xxk‹lXx ‹lXm† R†AxV AxV †XƒŒ‹A‹mzx AxV wmxmwm—X Ax” xXkA‹m‘X ‡zSmAu AxV Xx‘m†zxwXx‹Au mwƒAS‹‡à 3XSlxzuzkmSAu AV‘AxSX‡ Ă° ƒA†‹mSÂŒuA†u” ‹lz‡X †XuA‹XV ‹z ‹lX x‹X†xX‹Â XuXSܠzxmS RmuumxkĂ‚ Ġm‘AS” Ġz‹XS‹mzxĂ‚ †XAuð‹mwX ‡X†‘mSX AxV SŒ‡‹zwX† mx]z†wA‹mzx Ă° z]]X† zƒƒz†‹Œxm‹mX‡ ]z† k†z’‹l AxV Vm]]X†Xx‹mA‹mzxĂ %x ‹lX ]umƒ ‡mVX z] ‹lX SzmxĂ‚ SzwƒAxmX‡ ]ASX ‹lX SlAuuXxkX z] AVXÂ…ÂŒA‹Xu” Ġz‹XS‹mxk SŒ‡‹zwX†ð‡Xx‡m‹m‘X VA‹A AxV wAmx‹Amxmxk ‹†Œ‡‹ AxV uz”Au‹”à 0XkA†Vmxk Xx‘m†zxwXx‹Au mwƒAS‹‡Â SzwƒAxmX‡ mx ‹lm‡ ‡ƒASX xXXV ‹z ]zSŒ‡ zx wA‹X†mAu‡ ‡zΠSmxk AxV Œ‡AkXĂ‚ AxV XxX†k” mx‹Xx‡m‹” mx z†VX† ‹z mwĠz‘X zƒX†A‹mzxAu XSzĂ°X]]mSmXxS”Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą z†ƒz†A‹X z‘X†xAxSX Ăą -†m‘AS” -†z‹XS‹mzx Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 1‹AtXlzuVX† xkAkXwXx‹ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â

Sector statistics

RobecoSAM Gold Class Benesse Holdings Inc*

Japan

Runners up H&R Block Inc � 0zRXSz1 " 1XS‹z† XAVX† As of October 31, 2012

United States

Number of companies in universe

19

Number of companies assessed by RobecoSAM in 2012

12

Assessed companies to total companies in universe (%)

63

Market capitalization of assessed companies to total market capitalization (%)

84

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

48%

69%

48%

Environmental

20%

59%

19%

Social

29%

54%

33%

Total score average 36% best 62% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 95

Steel

Driving forces %xX z] ‹lX SlAuuXxkX‡ ]ASXV R” ‹lX m†zx AxV ‡‹XXu ĠzVÂŒSmxk ‡XS‹z† m‡ ‹lX X]]XS‹m‘X lAxVumxk z] %› Szx‡‹†Amx‹‡ AxV SumwA‹X SlAxkX †m‡t‡à #ÂŒwX†zŒ‡ ‡‹XXu SzwƒAxmX‡ A†X VX‘Xuzƒmxk ‹XSlxzuzkmX‡ ‹z †XVÂŒSX ‹lX %› mx‹Xx‡m‹” z] ‹lX ‡‹XXu wAtmxk ĠzSX‡‡à x” R†XAt‹l†zÂŒkl Â’zÂŒuV †XĠX‡Xx‹ A Szx‡mVX†ARuX SzwƒX‹m‹m‘X AV‘Ax‹AkXĂ‚ xz‹ zxu” Â’m‹lmx ‹lX mxVŒ‡‹†” m‹‡Xu]Ă‚ RŒ‹ Au‡z mx SzwƒX‹m‹mzx Â’m‹l ‹lX AuÂŒwmxÂŒw ‡XS‹z†à x AVVm‹mzx ‹z †XVÂŒSmxk k†XXxlzŒ‡X kA‡ Xwm‡‡mzx‡Â ‹lX †XVÂŒS‹mzx z] Am†Rz†xX Xwm‡‡mzx‡ z] lXA‘” wX‹Au‡Â Vmz“mx‡ AxV ]ΠAx‡Â A‡ Â’Xuu A‡ Â’A‡‹X †XS”Sumxk AxV †XŒ‡X Â’muu ]XA‹Œ†X ĠzwmxXx‹u” zx SzwƒAxmX‡Ó ]Œ‹Œ†X AkXxVA‡à zx‡zumVA‹mzx ‡XXx mx ‹lX ‡‹XXu ‡XS‹z† z‘X† ‹lX uA‡‹ ]XÂ’ ”XA†‡ m‡ umtXu” ‹z Szx‹mxÂŒX mx ‹lX ]Œ‹Œ†XĂ zwƒX‹m‹mzx Â’muu mx‹Xx‡m]” A‡ xXÂ’ ƒuA”X†‡ ]†zw 0Œ‡‡mA AxV lmxA Xx‹X† ‹lX wA†tX‹à :m‹lmx ‹lm‡ Szx‹X“‹Â X]]XS‹m‘X ‡Œƒƒu” SlAmx wAxAkXwXx‹ Â’muu RXSzwX Ax X‘Xx wz†X mwƒz†‹Ax‹ Â’A” ‹z SzÂŒx‹X†AS‹ ‹lm‡ SzwƒX‹m‹m‘X ĠX‡‡Œ†XĂ

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą xARumxk zSAu X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 1zSmAu wƒAS‹‡ zx zwwÂŒxm‹mX‡

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class ArcelorMittal*

France

RobecoSAM Silver Class POSCO

South Korea

Market capitalization of assessed 81

Results at sector level South Korea

Rautaruukki OYJ

Finland

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

59

Taiwan

Hyundai Steel Co Tata Steel Ltd

32

Assessed companies to total companies in universe (%)

Finland

Runners up China Steel Corp**

54

Number of companies assessed by RobecoSAM in 2012

companies to total market capitalization (%)

RobecoSAM Bronze Class Outokumpu OYJ

Number of companies in universe

India

Dimension

Average

Best

Dimension

score

score

weight

Economic

49%

83%

25%

Environmental

38%

84%

38%

Social

47%

84%

37%

As of October 31, 2012

Total score average 44% best 77% 0

96 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Support Services

Driving forces z† Ġz‘mVX†‡ z] mxVŒ‡‹†mAu ‡X†‘mSX‡Â Xwƒuz”XX‡ ƒuA” A S†m‹mSAu †zuX mx ‹lX ‡ŒSSX‡‡ z] ‹lX RŒ‡mxX‡‡à uXA† Xwƒuz”XX ƒzumSmX‡ SzwRmxXV Â’m‹l ܠAmxmxk Ġzk†Aw‡Â txzÂ’uXVkX wAxAkXwXx‹ AxV mxSXx‹m‘X ‡SlXwX‡ A†X mwƒz†‹Ax‹ ]z† S†XA‹mxk A ‡ŒSSX‡‡]ÂŒuĂ‚ ‡A]X AxV lXAu‹l” Â’z†tmxk Xx‘m†zxwXx‹à 1XS‹z† uXAVX†‡ wAmx‹Amx Vm‘X†‡m]mXV RŒ‡mxX‡‡ wzVXu‡ ‹lA‹ uX‘X†AkX mx‹X†xAu ‡”xX†kmX‡ AxV SŒ‹‹mxkĂ°XVkX ‹XSlxzuzkmX‡à ‡ › ‡X†‘mSX ƒA†‹xX†‡Â ‹lX” A†X mVXAuu” ƒuASXV ‹z ‡ƒXA†lXAV ‡Œ‡‹AmxARmum‹” mxxz‘A‹mzx‡ AxV Ġzwz‹X ‹lXw Awzxk ‹lXm† SumXx‹ RA‡XĂ 3†AVmxk SzwƒAxmX‡ ‹lA‹ ASÂ…ÂŒm†X ‡‹AtX‡ mx z† zƒX†A‹X uA†kXð‡SAuX ĠzsXS‹‡ ‡ŒSl A‡ X“ƒuz†A‹mzx AS‹m‘m‹mX‡ lA‘X A lmklX† X“ƒz‡Œ†X ‹z Xx‘m†zxwXx‹Au AxV lÂŒwAx †mkl‹‡ m‡‡ŒX‡ ‡‹Xwwmxk ]†zw Rz‹l ‹lXm† zƒX†A‹mzx‡ AxV ‹lXm† ‡ŒƒƒumX†‡à 3lX” ‡lzÂŒuV Szxܠzu ‹lz‡X †m‡t‡ R” mx‹Xk†A‹mxk Xx‘m†zxwXx‹Au AxV ‡zSmAu mwƒAS‹ A‡‡X‡‡wXx‹‡ mx‹z ‹lXm† mx‘X‡‹wXx‹ AxV ‡Œƒƒu” SlAmx VXSm‡mzx‡ AxV R” Ġz‘mVmxk ܠAx‡ƒA†Xx‹ †Xƒz†‹mxk ARzŒ‹ ‡ŒSl XxkAkXwXx‹‡à 1Œƒƒz†‹ ‡X†‘mSX‡ SzwƒAxmX‡ wŒ‡‹ Au‡z RX ĠzAS‹m‘X mx wAxAkmxk ƒz‹Xx‹mAu †m‡t‡ mx z†VX† ‹z A‘zmV ƒA‡‡mxk †XƒŒ‹A‹mzxAu †m‡t‡ zx ‹z ‹lXm† SŒ‡‹zwX†‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class Amadeus IT Holding SA*/**

Spain

RobecoSAM Bronze Class KEPCO Plant Service & Engineering Co Ltd

South Korea

Marubeni Corp

Japan

Mitsui & Co Ltd

Japan

Number of companies in universe

76

Number of companies assessed by RobecoSAM in 2012

45

Assessed companies to total companies in universe (%)

59

Market capitalization of assessed companies to total market capitalization (%)

78

Results at sector level

Runners up Adecco SA

Switzerland

Capita PLC

United Kingdom

Ecolab Inc

United States

Dimension

Average

Best

Dimension

score

score

weight

Experian PLC

United Kingdom

Economic

54%

84%

38%

Premier Farnell PLC

United Kingdom

Environmental

41%

93%

25%

Rentokil Initial PLC

United Kingdom

Social

43%

76%

37%

Sumitomo Corp � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Japan Total score

As of October 31, 2012

average 47% best 82% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 97

Tobacco

Driving forces 3lX ‹zRASSz ‡XS‹z† m‡ wA‹Œ†X AxV kuzRAu SmkA†X‹‹X ‡AuX‡ ‘zuÂŒwX‡ A†X ‡‹ARuXĂ zÂ’X‘X†Â ‹zRASSz SzwƒAxmX‡ Xxsz” A ÂŒxmÂ…ÂŒX ƒz‡m‹mzx mx ‹lX Szx‡ŒwX† ‡XS‹z† mx ‹lA‹ ‹lX” lA‘X ‡‹†zxk ĠmSmxk ƒzÂ’X†à 3lX ‡XS‹z†Ó‡ †XuA‹mzx‡lmƒ Â’m‹l ‹lX ƒŒRumS ‡XS‹z† m‡ z] ]ÂŒxVAwXx‹Au mwƒz†‹AxSX Â’m‹l †XkA†V ‹z ‹A“ ƒzumSmX‡ AxV X]]z†‹‡ ‹z SzwRA‹ SmkA†X‹‹X ‡wÂŒkkumxkĂ zwƒAxmX‡ lA‘X ‹z Ġz‘X ‹lA‹ ‹lX” lA‘X A †zRŒ‡‹ ‡”‡‹Xw mx ƒuASX ‹z ܠASt ‹lXm† ĠzVÂŒS‹ Vm‡‹†mRŒ‹mzxĂ 3lX ‡XS‹z† m‡ Szx‡‹Ax‹u” ‡S†Œ‹mxm—XV R” uXkm‡uA‹z†‡Â ‹lX wXVmA AxV # %‡Â Â’lmSl †XÂ…ÂŒm†X‡ Â’XuuĂ°wAxAkXV SzwƒAxmX‡ AxV ‡Œƒƒu” SlAmx‡ A‡ Â’Xuu A‡ A lmkl VXk†XX z] ܠAx‡ƒA†XxSӈ zuuzÂ’mxk xXÂ’ uXkm‡uA‹mzx †XkÂŒuA‹mxk ‡wztmxkĂ‚ m‹ Â’muu Au‡z RX mxS†XA‡mxku” mwƒz†‹Ax‹ ]z† ‹zRASSz SzwƒAxmX‡ ‹z ƒA†‹u” wz‘X AÂ’A” ]†zw ܠAVm‹mzxAu ‹zRASSz ĠzVÂŒS‹‡ AxV X“ƒuz†X zƒ‹mzx‡ mx ‹lX A†XA z] xzxĂ°SzwRŒ‡‹mRuX ‹zRASSzĂ‚ ‡ŒSl A‡ ‡xÂŒÂ‡Ă‚ AxV xzxð‹zRASSz xmSz‹mxX ĠzVÂŒS‹‡Â Rz‹l z] Â’lmSl SuAmw ‹z lA‘X A uzÂ’X† lXAu‹l mwƒAS‹Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą †AxV "AxAkXwXx‹ Ăą zwRA‹‹mxk 1wÂŒkkumxk Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 0AÂ’ "A‹X†mAu 1zΠSmxk 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 0X‡ƒzx‡mRuX "A†tX‹mxk -zumSmX‡

Sustainability leaders 2013

â â

Sector statistics Number of companies in universe

RobecoSAM Gold Class British American Tobacco PLC*

United Kingdom

RobecoSAM Bronze Class

13

Number of companies assessed by RobecoSAM in 2012

9

Assessed companies to total companies in universe (%)

69

Altria Group Inc**

United States

Market capitalization of assessed

Reynolds American Inc

United States

companies to total market capitalization (%)

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

94

Results at sector level

As of October 31, 2012

Dimension

Average

Best

Dimension

score

score

weight

Economic

69%

91%

41%

Environmental

72%

95%

23%

Social

60%

81%

36%

Total score average 67% best 88% 0

98 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Travel & Tourism

Driving forces zwƒAxmX‡ mx ‹lX ܠA‘Xu Ă— ‹zΠm‡w ‡ƒASX †Xu” lXA‘mu” zx ‹lX ‡zSmAuĂ‚ XSzxzwmS AxV xA‹Œ†Au Xx‘m†zxwXx‹‡ mx Â’lmSl ‹lX” zƒX†A‹XĂ x‘m†zxwXx‹Au SlAuuXxkX‡ ‡ŒSl A‡ SlAxkmxk Â’XA‹lX† ƒA‹‹X†x‡ AxV xA‹Œ†Au Vm‡A‡‹X†‡ ƒz‡X A ‹l†XA‹ ‹z RŒ‡mxX‡‡ Szx‹mxÂŒm‹” VXwAxVmxk ‹lX mwƒuXwXx‹A‹mzx z] AVXÂ…ÂŒA‹X †m‡t wAxAkXwXx‹ wXA‡Œ†X‡à tX” V†m‘X† ]z† ‹lX ‡XS‹z† m‡ lÂŒwAx SAƒm‹Au wAxAkXwXx‹Â wAtmxk m‹ mxVm‡ƒXx‡ARuX ]z† SzwƒAxmX‡ mx ‹lX ܠA‘Xu Ă— ‹zΠm‡w ‡XS‹z† ‹z Xwƒuz” Ġzk†X‡‡m‘X lÂŒwAx †X‡zΠSX ƒzumSmX‡ ‹lA‹ mxSuÂŒVX ‹AuXx‹ A‹‹†AS‹mzx Ă— †X‹Xx‹mzxĂ‚ lÂŒwAx SAƒm‹Au VX‘XuzƒwXx‹Â zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹” AxV k†zÂŒÂƒĂ°Â’mVX X‹lmSAu ĠmxSmƒuX‡ ‹lA‹ ĠX‘Xx‹ mx‘zu‘XwXx‹ mx muuXkAu ĠAS‹mSX‡à x‡Œ†mxk ‡Œ‡‹AmxARuX ‡Œƒƒu” SlAmx‡ ‹lA‹ ]zSŒ‡ zx uzSAu ‡ŒƒƒumX†‡ AxV ‹lX Ġz‹XS‹mzx z] lÂŒwAx †mkl‹‡ m‡ tX” ]z† ‹lX mxVÂŒÂ‡Â‹Â†Â”Ă u‹lzÂŒkl ‹lX kuzRAu XSzxzwmS VzÂ’x‹Œ†x ƒz‡X‡ A ‡mkxm]mSAx‹ ‹l†XA‹ ‹z ܠA‘Xu ƒA‹‹X†x‡ AxV ‹lX ‹zΠm‡w mxVÂŒÂ‡Â‹Â†Â”Ă‚ Ġzk†X‡‡m‘X ‡Œ‡‹AmxARmum‹” ‡‹†A‹XkmX‡ AuuzÂ’ SzwƒAxmX‡ ‹z RXxX]m‹ ]†zw xXÂ’ zƒƒz†‹Œxm‹mX‡ ‡ŒSl A‡ XSzð‹zΠm‡wĂ‚ SÂŒu‹Œ†Au Ġzwz‹mzx AxV VX‘XuzƒwXx‹Â AxV SlAxkmxk SŒ‡‹zwX† VXwAxV‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą 1Œƒƒu” lAmx "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ÂŒwAx 0mkl‹‡ Ă— z††Œƒ‹mzx Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹”

Sustainability leaders 2013

â â

Sector statistics

RobecoSAM Gold Class TUI AG*/**

Germany

RobecoSAM Bronze Class Firstgroup PLC

United Kingdom

TUI Travel PLC � 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

30

Number of companies assessed by RobecoSAM in 2012

19

Assessed companies to total companies in universe (%)

63

Market capitalization of assessed companies to total market capitalization (%)

Runners up MTR Corp

Number of companies in universe

79

Hong Kong United Kingdom

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

47%

82%

26%

Environmental

33%

83%

23%

Social

43%

82%

51%

As of October 31, 2012

Total score average 42% best 82% 0

25

50

75

100

3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ â 0zRXSz1 " â 99

Waste & Disposal Services

Driving forces :A‡‹X Ă— Vm‡ƒz‡Au ‡X†‘mSX‡ xXXV ‹z Xx‡Œ†X ‹lX Aƒƒ†zĠmA‹X wAxAkXwXx‹ AxV ܠXA‹wXx‹ z] ‹lX wAx” Vm]]X†Xx‹ ‹”ƒX‡ z] Â’A‡‹XĂ ASmum‹A‹mxk ‹lX †XŒ‡X AxV †XS”Sumxk z] XxVĂ°z]Ă°um]X ĠzVÂŒS‹‡ A†X ‹lX wAmx SlAuuXxkX‡ ]z† ‹lX ‡XS‹z†à XSAŒ‡X wAx” SzÂŒxܠmX‡ ‡‹muu †Xu” zx uAxV]muu‡ ]z† ‹lXm† Â’A‡‹X Vm‡ƒz‡AuĂ‚ zxX z] ‹lX ‡XS‹z†Ó‡ Ġmz†m‹mX‡ m‡ ‹lX mxܠzVÂŒS‹mzx z] Au‹X†xA‹m‘X AxV mxxz‘A‹m‘X ܠXA‹wXx‹ ĠzSX‡‡X‡ ‹z SzwƒuXwXx‹ X“lAŒ‡‹XV uAxV]muu SAƒASm‹mX‡à xz‹lX† SlAuuXxkX SzxSX†x‡ ‹lX wAxAkXwXx‹ z] k†XXxlzŒ‡X kA‡X‡ ]†zw uAxV]muuÂ‡Ăƒ SzwƒAxmX‡ ‹lA‹ Œ‡X ‹XSlxzuzkmX‡ ‹z SAƒ‹Œ†X ‹lX wX‹lAxX ĠzVÂŒSXV R” VXSzwƒz‡mxk Â’A‡‹X AxV Œ‡X m‹ ‹z kXxX†A‹X XxX†k” Â’muu XwX†kX A‡ ‡XS‹z† uXAVX†‡à ‹ ‹lX ‡AwX ‹mwXĂ‚ X]]mSmXx‹ ܠAx‡ƒz†‹A‹mzx z] XÂ…ÂŒmƒwXx‹ AxV uzkm‡‹mS‡ ĠzSX‡‡X‡ lA‘X A ‡mkxm]mSAx‹ ]mxAxSmAu AxV Xx‘m†zxwXx‹Au mwƒAS‹à XAVmxk SzwƒAxmX‡ AS‹m‘Xu” RÂŒmuV A ƒz†‹]zumz z] †XAu Au‹X†xA‹m‘X‡ ‹z uAxV]muu‡ AxV ‡”‡‹XwA‹mSAuu” ‹Aƒ ‹lX ]mxAxSmAu RXxX]m‹‡ z] X“SXuuXxSX mx zSSŒƒA‹mzxAu lXAu‹l Ă— ‡A]X‹”à S‹m‘X AxV zxkzmxk XxkAkXwXx‹ Â’m‹l ‹lX ‡XS‹z†Ó‡ wAx” ‡‹AtXlzuVX†‡ m‡ S†ŒSmAu ‹z ]ASmum‹A‹mxk Â…ÂŒmSt ĠzsXS‹ Aƒƒ†z‘Au‡ AxV X‡‹ARum‡lmxk A VXk†XX z] Szx]mVXxSX AxV ܠAx‡ƒA†XxS”Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą Œ‡‹zwX† 0XuA‹mzx‡lmƒ "AxAkXwXx‹ Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ x‘m†zxwXx‹Au mwXx‡mzx Ăą umwA‹X 1ܠA‹Xk” Ăą AxV]muumxk AxV u‹X†xA‹m‘X‡ Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” Ăą 3†Ax‡ƒz†‹ AxV zkm‡‹mS‡ 1zSmAu mwXx‡mzx Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą %SSŒƒA‹mzxAu XAu‹l Ă— 1A]X‹” Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â

Sector statistics Number of companies in universe

RobecoSAM Gold Class

8

Waste Management Inc*/**

United States

Number of companies assessed by RobecoSAM in 2012

4

Sims Metal Management Ltd

Australia

Assessed companies to total companies in universe (%)

50

� 0zRXSz1 " 1XS‹z† XAVX† �� 0zRXSz1 " 1XS‹z† "z‘X†

Market capitalization of assessed companies to total market capitalization (%)

78

As of October 31, 2012

Results at sector level Dimension

Average

Best

Dimension

score

score

weight

Economic

57%

74%

31%

Environmental

37%

60%

36%

Social

44%

62%

33%

Total score average 46% best 65% 0

100 â 0zRXSz1 " â 3lX 1Œ‡‹AmxARmum‹” <XA†Rzzt ›™šœ

25

50

75

100

Water

Driving forces :A‹X† ‡SA†Sm‹” VX‹X†mz†A‹mxk Â’A‹X† Â…ÂŒAum‹” Akmxk Vm‡‹†mRŒ‹mzx AxV SzuuXS‹mzx xX‹’z†t‡ mx VX‘XuzƒXV wA†tX‹‡Â A‡ Â’Xuu A‡ mxS†XA‡XV Szx‡Œwƒ‹mzx AxV †AƒmV mx]†A‡‹†ŒS‹Œ†X X“ƒAx‡mzx mx XwX†kmxk wA†tX‹‡ †XĠX‡Xx‹ ‡zwX z] ‹lX tX” SlAuuXxkX‡ ]ASXV R” Â’A‹X† Œ‹mum‹mX‡à 3mkl‹Xxmxk †XkÂŒuA‹mzx‡Â ƒzum‹mSAu †m‡t‡ AxV AVXÂ…ÂŒA‹X Sz‡‹ †XSz‘X†” A†X ”X‹ z‹lX† SzxSX†x‡ Â’m‹lmx ‹lX ‡XS‹z†à XAVmxk SzwƒAxmX‡ ƒX†]z†w AS‹m‘X †X‡zΠSX wAxAkXwXx‹Â †XVÂŒSX Â’A‹X† uz‡‡X‡ VΠmxk Vm‡‹†mRŒ‹mzxĂ‚ AxV ]z‡‹X† VXwAxVð‡mVX X]]mSmXxSӈ X‡‹ ĠAS‹mSX‡ mx‘zu‘X ‹lX AƒƒumSA‹mzx z] mxxz‘A‹m‘X ‡XÂ’AkX AxV ‡uÂŒVkX ܠXA‹wXx‹ ‹XSlxzuzkmX‡ mx SzwRmxA‹mzx Â’m‹l RmzkA‡ ĠzVÂŒS‹mzxĂ XAVmxk SzwƒAxmX‡ Au‡z ƒA†‹xX† Â’m‹l ‹XSlxzuzk” Ġz‘mVX†‡ ‹z mx‘X‡‹mkA‹X ܠXA‹wXx‹ z] XwX†kmxk Â’A‹X† ƒzuuŒ‹Ax‹‡ ‡ŒSl A‡ XxVzS†mxX Vm‡†Œƒ‹z†‡à 3lX umRX†Aum—A‹mzx ܠXxV mxS†XA‡X‡ SzwƒX‹m‹mzx AxV †XÂ’A†V‡ mx‹Xk†A‹XVĂ‚ Sz‡‹ðX]]mSmXx‹ AxV SŒ‡‹zwX†ðz†mXx‹XV Â’A‹X† wAxAkXwXx‹ ‡‹†A‹XkmX‡à 3lX †XSXx‹ †XSzkxm‹mzx z] ASSX‡‡ ‹z Â’A‹X† AxV ‡Axm‹A‹mzx A‡ A RA‡mS lÂŒwAx †mkl‹ ÂŒxVX†‡Sz†X‡ ‹lX mwƒz†‹AxSX z] ‡‹AtXlzuVX† XxkAkXwXx‹à ‡ ĠmSmxk ‡‹†A‹XkmX‡ SzwX ÂŒxVX† mxS†XA‡XV ‡S†Œ‹mx” SzwƒAxmX‡ zƒ‹ ]z† mxS†XA‡mxku” mxxz‘A‹m‘X ‹A†m]] ‡‹†ŒS‹Œ†X‡Ă

Highlighted criteria SzxzwmS mwXx‡mzx Ăą zVX‡ z] zxVÂŒS‹ê zwƒumAxSX z††Œƒ‹mzx Ă— †mRX†” Ăą z†ƒz†A‹X z‘X†xAxSX Ăą 0m‡t Ă— †m‡m‡ "AxAkXwXx‹ Ăą :A‹X† %ƒX†A‹mzx‡ x‘m†zxwXx‹Au mwXx‡mzx Ăą mzVm‘X†‡m‹” Ăą x‘m†zxwXx‹Au -zumSӐ"AxAkXwXx‹ 1”‡‹Xw Ăą x‘m†zxwXx‹Au 0Xƒz†‹mxk Ăą %ƒX†A‹mzxAu SzĂ° ]]mSmXxS” 1zSmAu mwXx‡mzx Ăą SSX‡‡ ‹z :A‹X† Ăą ÂŒwAx Aƒm‹Au X‘XuzƒwXx‹ Ăą ARz† -†AS‹mSX xVmSA‹z†‡ AxV ÂŒwAx 0mkl‹‡ Ăą 3AuXx‹ ‹‹†AS‹mzx Ă— 0X‹Xx‹mzx

Sustainability leaders 2013

â â â

Sector statistics

RobecoSAM Gold Class Suez Environnement Co*

France

RobecoSAM Silver Class Sociedad General de Aguas de Barcelona SA United Utilities Group PLC

1

Spain United Kingdom

Number of companies in universe

16

Number of companies assessed by RobecoSAM in 2012

15

Assessed companies to total companies in universe (%)

94

Market capitalization of assessed companies to total market capitalization (%)

98

RobecoSAM Bronze Class American Water Works Co Inc** Veolia Environnement SA

United States

Ă? 0zRXSz1 " 1XS‹z† XAVX† Ă?Ă? 0zRXSz1 " 1XS‹z† "z‘X† š 3lm‡ SzwƒAx” lA‡ RXXx X‘AuÂŒA‹XV zŒ‹‡mVX z] ‹lX †XkÂŒuA† zÂ’ zxX‡ 1Œ‡‹AmxARmum‹” xVX“X‡ A‡‡X‡‡wXx‹ ĠzSX‡‡ As of October 31, 2012

Results at sector level

France Dimension

Average

Best

Dimension

score

score

weight

Economic

52%

86%

39%

Environmental

39%

84%

22%

Social

47%

88%

39%

Total score average 47% best 84% 0

25

50

75

100

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xxX

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About RobecoSAM

RobecoSAM analysts

0zRXSz1 " m Ax mx X wXx XSmAum ]zS XV X Su m Xu zx 1 AmxARmum x X mxkÁ z]]X mxk Szw m X A X wAxAkXwXx  mxVmSX  m A X X m  XxkAkXwXx  mw AS AxAu m AxV AmxARmum A X wXx A Xuu A RXxSlwA tmxk X mSX Á X wAxAkXwXx SA ARmum mX mxSu VX A AxkX z] 1 ðmx Xk A XV mx X wXx AxV lXwX A XkmX ãmx um XV AxV m A X X m é SA X mxk z mx m mzxAu A X z xX AxV ]mxAxSmAu mx X wXVmA mX AS z lX kuzRXÁ 3zkX lX m l 1×- z zxX xVmSX  0zRXSz1 " Rum lX lX kuzRAuu XSzkxm XV z zxX 1 AmxARmum xVX X ã 1 éÁ A XV zx m z z A X 1 AmxARmum X wXx  Ax Axx Au 1 AxAu m z] wz X lAx  um XV Szw AxmX  0zRXSz1 " lA Szw muXV zxX z] lX z uVÓ wz Szw XlXx m X AmxARmum VA ARA X Á 0zRXSz1 "Ó z mX A X XA Sl AxV AmxARmum mx mkl  kAmxXV l z kl m Vm XS Szx AS m l Szw AxmX  A X Rz l ] uu mx Xk A XV mx z lX Szw Ax Ó mx X wXx zu mzx Á

Daniel Wild, PhD XAV z] 0X XA Sl Marc-Olivier Buffle, PhD 1XS z XAV xV mAu Gabriela Grab Hartmann 1XS z XAV zx wX × XAu lSA X Levon Babalyan, PhD, CFA %mu × A Â zwz m X Diederik Basch, CFA zzV × X X AkX Elsa Ben Hamou Dassonville zx wX zzV Bojana Bidovec

0zRXSz1 " m A wXwRX z] lX kuzRAu Xð uA A X wAxAkX 0zRXSz lmSl A X ARum lXV mx ¢ ¢ AxV z]]X A R zAV AxkX z] mx X wXx zV S AxV X mSX Á 0zRXSz Au z lA A uzxk AVm mzx z] AS mSmxk AxV AV zSA mxk 1 AmxARmum x X mxk mxSm uX Á 0zRXSz1 " A ]z xVXV mx ¢¢ z z] lX Szx mS mzx lA A Szwwm wXx z Sz z A X AmxARmum XxlAxSX A Szw Ax Ó SA ASm z z X  u mwA Xu S XA mxk Szw X m m X AV Ax AkX AxV AtXlzuVX Au XÁ A X]uXS mzx z] m z x Szwwm wXx z AV zSA mxk AmxARuX mx X wXx AS mSX  0zRXSz1 " m A mkxA z z] lX 4#-0 AxV A wXwRX z] z m] 1 AxV X X Á XAV A X XV mx ? mSl 0zRXSz1 " Xw uz z X z]X mzxAu Á z] 1X XwRX   0zRXSz1 "Ó A X xVX wAxAkXwXx  AV mSX AxV umSXx X Awz x XV z A z Au z] 41 Á¡ RmuumzxÁ

xV mAu Mathias Büeler, CFA mxAxSmAu Cécile Churet xV mAu Christophe Churet "A X mAu Urs Diethelm, CEFA :A X 4 mum mX × xV mAu Thomas Guennegues xX k Junwei Hafner-Cai, CIAA xV mAu Matthias Müller

RobecoSAM Academic Activities

3XSlxzuzk

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Arnfried Ossen, PhD / Ax m A m X xAu Andrea Ricci, PhD xV mAu Jürgen Siemer, PhD zzV - zV SX × A w Giorgia Valsesia, PhD XAu lSA X Christopher Greenwald, PhD XAV z] 1 AmxARmum umSA mzx ×

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% X A mzx Steven Bacon, PhD 1 AmxARmum % X A mzx

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Manjit Jus 1 AmxARmum % X A mzx Ida Karlsson 1 AmxARmum % X A mzx

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 103

KPMG Profile As sustainability and climate change issues move to the top of corporate agendas, KPMG firms advise organizations to better understand the complex and evolving environment, helping them optimize their sustainability strategy. KPMG’s Climate Change and Sustainability Services (CC&S) professionals provide sustainability and climate change Assurance, Tax and Advisory services to organizations to help them apply sustainability as a strategic lens to their business operations. KPMG’s member firms have more than 25 years experience working with leading businesses and public sector organizations which has enabled them to develop extensive relationships with the world’s leading companies and to contribute to shaping the sustainability agenda. The expanding CC&S network, across more than 60 countries, enables us to apply a consistent, global approach to service delivery and respond to multinational organizations’ complex business challenges with services that span industry sectors and national boundaries. The experienced CC&S teams assist organizations in the following areas: • Sustainability risk and opportunity analysis • Corporate responsibility strategy assistance • Corporate Social Responsibility/Sustainability/GHG information systems design and implementation • Regulatory framework assessment and optimization, including tax and carbon emission regimes • Tax incentives and credits • Sustainable supply chain enhancements • Corporate responsibility reporting and assurance, including pre-audit assessments and Green House Gas emissions verification. For more information, please visit our website, kpmg.com/sustainability

Argentina

Colombia

Ireland

Nigeria

Sri Lanka

Martin Mendivelzua

Fabian Echeverria

Eoin O’Lideadha

Tomi Adepoju

Ranjani Joseph

mmendivelzua@kpmg.com.ar

fecheverria@kpmg.com

eolideadha@kpmg.com

tadepoju@kpmg.com

ranjanijoseph@kpmg.com

Armenia

Cyprus

Israel

Norway

Sweden

Andrew Coxshall

Iacovos Ghalanos

Oren Grupi

Jan-Erik Martinsen

Ase Backstrom

acoxshall@kpmg.ru

Iacovos.ghalanos@kpmg.com.cy

ogrupi@kpmg.com

jan.erik.martinsen@kpmg.no

ase.backstrom@kpmg.se

Australia

Czech Republic

Italy

Philippines

Switzerland

Adrian King

Michal Bares

PierMario Barzaghi

Henry Antonio

Hans-Ulrich Pfyffer

avking@kpmg.com.au

mbares@kpmg.com

pbarzaghi@kpmg.it

hantonio@kpmg.com

hpfyffer@kpmg.com

Austria

Demark

Japan

Poland

Taiwan

Peter Ertl

Christian Honore

Yoshitake Funakoshi

Krzysztof Radziwon

pertl@kpmg.at

chonore@kpmg.dk

yoshitake.funakoshi@

kradziwon@kpmg.com

Charles Chen charleschen@ kpmg.com.tw

Azerbaijan

Finland

jp.kpmg.com

Portugal

Thailand

Vugar Aliyev

Tomas Otterstrom

Japan

Filipa Rodrigues

Paul Flipse

valiyev@kpmg.com

totterstrom@kpmg.com

Kazuhiko Saito

filiparodrigues@kpmg.com

pflipse1@kpmg.co.th

Baltics

France

kazuhiko.saito@jp.kpmg.com

Romania

U.A.E.

Gregory Rubinchik

Philippe Arnaud

Kazakhstan

Gheorghita Diaconu

grubinchik@kpmg.com

parnaud@kpmg.fr

Alun Bowen

gdiaconu@kpmg.com

Sudhir Arvind sarvind@ kpmg.com

Belgium

Georgia

abowen@kpmg.kz

Russia

Mike Boonen mboonen@ kpmg.com

Andrew Coxshall

Luxemburg

Igor Korotetskiy

acoxshall@kpmg.ru

Jane Wilkinson

ikorotetskiy@kpmg.com

Brazil

Germany

janewilkinson@kpmg.com

Singapore

Sidney Ito

Jochen Pampel

Malaysia

Sharad Somani

sito@kpmg.com.br

jpampel@kpmg.com

Lamsang Hewlee

sharadsomani@kpmg.com.sg

Bulgaria

Greece

lhewlee@kpmg.com.my

Slovakia

Emmanuel Totev

George Raounas

Mexico

Quentin Crossley

etotev@kpmg.com

graounas@kpmg.gr

Jesus Gonzalez

qcrossley@kpmg.com

Canada

Hungary

jesusgonzalez@kpmg.com.mx

South Africa

Bill Murphy

Gabor Cserhati

Netherlands

Neil Morris

billmurphy@kpmg.ca

gcserhati@kpmg.com

Bernd Hendriksen

neil.morris@kpmg.co.za

Chile

India

hendriksen.bernd@kpmg.nl

South Korea

Alejandro Cerda

New Zealand

Sungwoo Kim

acerda@kpmg.com

Rajeev Batra rbbatra@ kpmg.com

Jamie Sinclair

sungwookim@kr.kpmg.com

China/Hong Kong

Indonesia

jpsinclair@kpmg.co.nz

Spain

Leah Jin

Iwan Atmawidjaja

Jose Luis Blasco Vazquez

leah.jin@kpmg.com

iwan.atmawidjaja@kpmg.co.id

jblasco@kpmg.es

104 • RobecoSAM • The Sustainability Yearbook 2013

U.A.E. and Oman (Lower Gulf) Andrew Robinson arobinson1@kpmg.com UK Vincent Neate vincent.neate@kpmg.co.uk Ukraine Olena Makarenko omakarenko@kpmg.ua US John Hickox jhickox@kpmg.com Venezuela Jose O. Rodrigues jrodrigues@kpmg.com

zw Ax z X mX

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 105

COMPANY OVERVIEW

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

3i Group PLC

Financial Services

United Kingdom

64

3M Co

Diversified Industrials

United States

59

ABB Ltd

Industrial Engineering

Switzerland

77

Abbott Laboratories

Pharmaceuticals

United States

89

Abertis Infraestructuras SA

Industrial Transportation

Spain

78

Acciona SA

Heavy Construction

Spain

74

Accor SA

Hotels, Restaurants, Bars & Recreational Services

France

76

ACS Actividades de Construccion y Servicios SA

Heavy Construction

Spain

74

Adecco SA

Support Services

Switzerland

97

Adidas AG

Clothing, Accessories & Footwear

Germany

54

Advanced Micro Devices Inc

Semiconductors

United States

93

Aegon NV

Insurance

Netherlands

79

Aeon Co Ltd

General Retailers

Japan

72

African Bank Investments Ltd

Financial Services

South Africa

64

AGL Energy Ltd

Electricity

Australia

62

Agnico-Eagle Mines Ltd

Mining

Canada

83

Air France-KLM

Airlines

France

45

Air Products & Chemicals Inc

Chemicals

United States

53

Ajinomoto Co Inc

Food Producers

Japan

67

Akzo Nobel NV

Chemicals

Netherlands

53

Alcatel-Lucent SA

Communication Technology

France

55

Alcoa Inc

Aluminum

United States

46

Allergan Inc

Pharmaceuticals

United States

89

Allianz SE

Insurance

Germany

79

Alstom SA

Industrial Engineering

France

77

Altria Group Inc

Tobacco

United States

98

Amadeus IT Holding SA

Support Services

Spain

97

Amcor Ltd

Containers & Packaging

Australia

58

AMEC PLC

Oil Equipment & Services

United Kingdom

87

American Water Works Co Inc

Water

United States

101

Amorepacific Corp

Personal Products

South Korea

88

Anglo American Platinum Ltd

Mining

South Africa

83

Anglo American PLC

Mining

United Kingdom

83

AngloGold Ashanti Ltd

Mining

South Africa

83

ArcelorMittal

Steel

France

96

Asahi Glass Co Ltd

Building Materials & Fixtures

Japan

52

ASML Holding NV

Semiconductors

Netherlands

93

AstraZeneca PLC

Pharmaceuticals

United Kingdom

89

RobecoSAM Gold Class

RobecoSAM Silver Class

106 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

RobecoSAM Bronze Class

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

Atlantia SpA

Industrial Transportation

Italy

78

Atlas Copco AB

Industrial Engineering

Sweden

77

AU Optronics Corp

Computer Hardware & Electronic Office Equipment

Taiwan

56

Australia & New Zealand Banking Group Ltd

Banks

Australia

49

Autodesk Inc

Software

United States

94

Aviva PLC

Insurance

United Kingdom

79

AXA SA

Insurance

France

79

BAE Systems PLC

Aerospace & Defense

United Kingdom

44

Baker Hughes Inc

Oil Equipment & Services

United States

87

Balfour Beatty PLC

Heavy Construction

United Kingdom

74

Ball Corp

Containers & Packaging

United States

58

Banca Monte dei Paschi di Siena SpA

Banks

Italy

49

Banco Bilbao Vizcaya Argentaria SA

Banks

Spain

49

Banco Bradesco SA

Banks

Brazil

49

Banco do Brasil SA

Banks

Brazil

49

Banco Espirito Santo SA

Banks

Portugal

49

Banco Santander SA

Banks

Spain

49

BanColombia SA

Banks

Colombia

49

Bankinter SA

Banks

Spain

49

Barclays PLC

Banks

United Kingdom

49

Barrick Gold Corp

Mining

Canada

83

BASF SE

Chemicals

Germany

53

Baxter International Inc

Medical Products

United States

82

Bayer AG

Chemicals

Germany

53

Bayerische Motoren Werke AG

Automobiles

Germany

48

Becton Dickinson and Co

Medical Products

United States

82

Benesse Holdings Inc

Specialized Consumer Services

Japan

95

Best Buy Co Inc

General Retailers

United States

72

BG Group PLC

Oil & Gas Producers

United Kingdom

86

BHP Billiton Ltd

Mining

Australia

83

Biogen Idec Inc

Biotechnology

United States

51

BNP Paribas SA

Banks

France

49

Bombardier Inc

Aerospace & Defense

Canada

44

Braskem SA

Chemicals

Brazil

53

BRF-Brasil Foods SA

Food Producers

Brazil

67

Bridgestone Corp

Auto Parts & Tires

Japan

47

Bristol-Myers Squibb Co

Pharmaceuticals

United States

89

British American Tobacco PLC

Tobacco

United Kingdom

98

British Land Co PLC

Real Estate

United Kingdom

91

RobecoSAM Gold Class

RobecoSAM Silver Class

RobecoSAM Bronze Class

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 107

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

British Sky Broadcasting Group PLC

Media

United Kingdom

81

BT Group PLC

Fixed Line Communications

United Kingdom

65

CA Inc

Software

United States

94

CaixaBank

Banks

Spain

49

Campbell Soup Co

Food Producers

United States

67

Canadian Imperial Bank of Commerce

Banks

Canada

49

Canadian National Railway Co

Industrial Transportation

Canada

78

Capita PLC

Support Services

United Kingdom

97

Capital Shopping Centres Group PLC

Real Estate

United Kingdom

91

CapitaLand Ltd

Real Estate

Singapore

91

Carrefour SA

Food & Drug Retailers

France

66

Casino Guichard Perrachon SA

Food & Drug Retailers

France

66

Caterpillar Inc

Industrial Engineering

United States

77

Cenovus Energy Inc

Oil & Gas Producers

Canada

86

CFS Retail Property Trust

Real Estate

Australia

91

China Mobile Ltd

Mobile Telecommunications

China

84

China Steel Corp

Steel

Taiwan

96

Christian Dior SA

Clothing, Accessories & Footwear

France

54

Chunghwa Telecom Co Ltd

Fixed Line Communications

Taiwan

65

Cia Energetica de Minas Gerais - CEMIG

Electricity

Brazil

62

Cie Generale de Geophysique Veritas

Oil Equipment & Services

France

87

Cie Generale des Etablissements Michelin

Auto Parts & Tires

France

47

Cisco Systems Inc

Communication Technology

United States

55

Citigroup Inc

Banks

United States

49

City Developments Ltd

Real Estate

Singapore

91

Clariant AG

Chemicals

Switzerland

53

Coca Cola Hellenic Bottling Co SA

Beverages

Greece

50

Coca-Cola Enterprises Inc

Beverages

United States

50

Colgate-Palmolive Co

Personal Products

United States

88

Coloplast A/S

Medical Products

Denmark

82

Commonwealth Bank of Australia

Banks

Australia

49

Commonwealth Property Office Fund

Real Estate

Australia

91

Compass Group PLC

Hotels, Restaurants, Bars & Recreational Services

United Kingdom

76

ConAgra Foods Inc

Food Producers

United States

67

Corio NV

Real Estate

Netherlands

91

CPFL Energia SA

Electricity

Brazil

62

RobecoSAM Gold Class

RobecoSAM Silver Class

108 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

RobecoSAM Bronze Class

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Credit Agricole SA

Banks

France

49

Credit Suisse Group AG

Banks

Switzerland

49

CRH PLC

Building Materials & Fixtures

Ireland

52

Cummins Inc

Industrial Engineering

United States

77

Daelim Industrial Co Ltd

Heavy Construction

South Korea

74

Daewoo Securities Co Ltd

Financial Services

South Korea

64

Dai Nippon Printing Co Ltd

Media

Japan

81

Daikin Industries Ltd

Industrial Engineering

Japan

77

Daimler AG

Automobiles

Germany

48

Daiwa Securities Group Inc

Financial Services

Japan

64

Danone SA

Food Producers

France

67

Delhaize Group SA

Food & Drug Retailers

Belgium

66

Delta Electronics Inc

Electronic Equipment

Taiwan

63

Delta Lloyd NV

Insurance

Netherlands

79

Denso Corp

Auto Parts & Tires

Japan

47

Deutsche Bank AG

Banks

Germany

49

Deutsche Boerse AG

Financial Services

Germany

64

Deutsche Lufthansa AG

Airlines

Germany

45

Deutsche Post AG

Industrial Transportation

Germany

78

Deutsche Telekom AG

Mobile Telecommunications

Germany

84

Dexus Property Group

Real Estate

Australia

91

Diageo PLC

Beverages

United Kingdom

50

DNB ASA

Banks

Norway

49

Dongbu Insurance Co Ltd

Insurance

South Korea

79

Dow Chemical Co

Chemicals

United States

53

Duratex SA

Building Materials & Fixtures

Brazil

52

E.ON AG

Electricity

Germany

62

Eaton Corp

Diversified Industrials

United States

59

Echo Entertainment Group Ltd

Gambling

Australia

70

Ecolab Inc

Support Services

United States

97

Ecopetrol SA

Oil & Gas Producers

Colombia

86

EDP - Energias de Portugal SA

Electricity

Portugal

62

EI du Pont de Nemours & Co

Chemicals

United States

53

Electrolux AB

Durable Household Products

Sweden

60

Elekta AB

Medical Products

Sweden

82

EMC Corp

Computer Hardware & Electronic Office Equipment

United States

56

Embraer SA

Aerospace & Defense

Brazil

44

Enagas SA

Gas Distribution

Spain

71

Enbridge Inc

Pipelines

Canada

90

Encana Corp

Oil & Gas Producers

Canada

86

Endesa SA

Electricity

Spain

62

RobecoSAM Gold Class

RobecoSAM Silver Class

Page

RobecoSAM Bronze Class

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 109

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Enel SpA

Electricity

Italy

62

Eni SpA

Oil & Gas Producers

Italy

86

Entergy Corp

Electricity

United States

62

Eramet

Mining

France

83

Experian PLC

Support Services

United Kingdom

97

Ferrovial SA

Heavy Construction

Spain

74

Fiat Industrial SpA

Industrial Engineering

Italy

77

Fiat SpA

Automobiles

Italy

48

Fibria Celulose SA

Forestry & Paper

Brazil

68

Finmeccanica SpA

Aerospace & Defense

Italy

44

Firstgroup PLC

Travel & Tourism

United Kingdom

99

Fomento de Construcciones y Contratas SA

Heavy Construction

Spain

74

Fonciere Des Regions

Real Estate

France

91

Fortum OYJ

Electricity

Finland

62

Fraport AG Frankfurt Airport Services Worldwide

Industrial Transportation

Germany

78

Freeport-McMoRan Copper & Gold Inc

Mining

United States

83

Fresenius Medical Care AG & Co KGaA

Healthcare Providers

Germany

73

Fresnillo PLC

Mining

United Kingdom

83

Fuji Electric Co Ltd

Electric Components & Equipment

Japan

61

Fujitsu Ltd

Computer Hardware & Electronic Office Equipment

Japan

56

Galp Energia SGPS SA

Oil & Gas Producers

Portugal

86

Gamesa Corp Tecnologica SA

Renewable Energy Equipment

Spain

92

Gap Inc

General Retailers

United States

72

Gas Natural SDG SA

Gas Distribution

Spain

71

GDF Suez

Electricity

France

62

Gecina SA

Real Estate

France

91

General Electric Co

Diversified Industrials

United States

59

General Mills Inc

Food Producers

United States

67

Gildan Activewear Inc

Clothing, Accessories & Footwear

Canada

54

GlaxoSmithKline PLC

Pharmaceuticals

United Kingdom

89

Glencore International PLC

Mining

United Kingdom

83

Gold Fields Ltd

Mining

South Africa

83

Goldcorp Inc

Mining

Canada

83

GPT Group

Real Estate

Australia

91

Grupo de Inversiones Suramericana SA

Financial Services

Colombia

64

Grupo Nutresa SA

Food Producers

Colombia

67

GS Engineering & Construction Corp

Heavy Construction

South Korea

74

RobecoSAM Gold Class

RobecoSAM Silver Class

110 • RobecoSAM • The Sustainability Yearbook 2013

RobecoSAM Bronze Class

Page

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

H&R Block Inc

Specialized Consumer Services

United States

95

Halliburton Co

Oil Equipment & Services

United States

87

Hammerson PLC

Real Estate

United Kingdom

91

Henkel AG & Co KGaA

Nondurable Household Products

Germany

85

Hennes & Mauritz AB

General Retailers

Sweden

72

Herman Miller Inc

Furnishing

United States

69

Hershey Co

Food Producers

United States

67

Hewlett-Packard Co

Computer Hardware & Electronic Office Equipment

United States

56

Hillshire Brands Co

Food Producers

United States

67

Hitachi Ltd

Electronic Equipment

Japan

63

HJ Heinz Co

Food Producers

United States

67

Hochtief AG

Heavy Construction

Germany

74

Holcim Ltd

Building Materials & Fixtures

Switzerland

52

Home Retail Group PLC

General Retailers

United Kingdom

72

Hong Kong Exchanges and Clearing Ltd

Financial Services

Hong Kong

64

Hormel Foods Corp

Food Producers

United States

67

HSBC Holdings PLC

Banks

United Kingdom

49

HudBay Minerals Inc

Mining

Canada

83

Humana Inc

Healthcare Providers

United States

73

Hysan Development Co Ltd

Real Estate

Hong Kong

91

Hyundai Engineering & Construction Co Ltd

Heavy Construction

South Korea

74

Hyundai Mobis

Auto Parts & Tires

South Korea

47

Hyundai Steel Co

Steel

South Korea

96

Iberdrola SA

Electricity

Spain

62

Ibiden Co Ltd

Electric Components & Equipment

Japan

61

IMI PLC

Industrial Engineering

United Kingdom

77

Inditex SA

General Retailers

Spain

72

Indra Sistemas SA

Computer Services & Internet

Spain

57

Infineon Technologies AG

Semiconductors

Germany

93

Infosys Ltd

Computer Services & Internet

India

57

ING Groep NV

Insurance

Netherlands

79

Ingersoll-Rand PLC

Industrial Engineering

United States

77

Inmet Mining Corp

Mining

Canada

83

Insurance Australia Group Ltd

Insurance

Australia

79

Intel Corp

Semiconductors

United States

93

Intesa Sanpaolo SpA

Banks

Italy

49

Invensys PLC

Software

United Kingdom

94

Investec PLC

Financial Services

United Kingdom

64

Italcementi SpA

Building Materials & Fixtures

Italy

52

Itau Unibanco Holding SA

Banks

Brazil

49

RobecoSAM Gold Class

RobecoSAM Silver Class

RobecoSAM Bronze Class

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 111

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

Itausa - Investimentos Itau SA

Financial Services

Brazil

64

ITV PLC

Media

United Kingdom

81

J Sainsbury PLC

Food & Drug Retailers

United Kingdom

66

Johnson & Johnson

Pharmaceuticals

United States

89

Johnson Controls Inc

Auto Parts & Tires

United States

47

KEPCO Plant Service & Engineering Co Ltd

Support Services

South Korea

97

Keppel Land Ltd

Real Estate

Singapore

91

Kesko OYJ

Food & Drug Retailers

Finland

66

Kimberly-Clark Corp

Personal Products

United States

88

Kingfisher PLC

General Retailers

United Kingdom

72

Kinross Gold Corp

Mining

Canada

83

Klepierre

Real Estate

France

91

Komatsu Ltd

Industrial Engineering

Japan

77

Konica Minolta Holdings Inc

Computer Hardware & Electronic Office Equipment

Japan

56

Koninklijke Ahold NV

Food & Drug Retailers

Netherlands

66

Koninklijke DSM NV

Chemicals

Netherlands

53

Koninklijke KPN NV

Fixed Line Communications

Netherlands

65

Koninklijke Philips Electronics NV

Leisure Goods

Netherlands

80

Kraft Foods Inc

Food Producers

United States

67

KT Corp

Fixed Line Communications

South Korea

65

Ladbrokes PLC

Gambling

United Kingdom

70

Land Securities Group PLC

Real Estate

United Kingdom

91

Lanxess AG

Chemicals

Germany

53

Legal & General Group PLC

Insurance

United Kingdom

79

Lend Lease Group

Real Estate

Australia

91

Lexmark International Inc

Computer Hardware & Electronic Office Equipment

United States

56

LG Chem Ltd

Chemicals

South Korea

53

LG Electronics Inc

Leisure Goods

South Korea

80

LG Household & Health Care Ltd

Personal Products

South Korea

88

LG Innotek Co Ltd

Electric Components & Equipment

South Korea

61

Liberty Global Inc

Media

United States

81

Life Technologies Corp

Biotechnology

United States

51

Linde AG

Chemicals

Germany

53

Lite-On Technology Corp

Electric Components & Equipment

Taiwan

61

Lloyds Banking Group PLC

Banks

United Kingdom

49

London Stock Exchange Group PLC

Financial Services

United Kingdom

64

Lotte Shopping Co Ltd

General Retailers

South Korea

72

LVMH Moet Hennessy Louis Vuitton SA

Clothing, Accessories & Footwear

France

54

Man Group PLC

Financial Services

United Kingdom

64

RobecoSAM Gold Class

RobecoSAM Silver Class

112 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

RobecoSAM Bronze Class

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

MAN SE

Industrial Engineering

Germany

77

Mapfre SA

Insurance

Spain

79

Marks & Spencer Group PLC

General Retailers

United Kingdom

72

Marubeni Corp

Support Services

Japan

97

McDonald’s Corp

Hotels, Restaurants, Bars & Recreational Services

United States

76

McGraw-Hill Cos Inc

Media

United States

81

MeadWestvaco Corp

Containers & Packaging

United States

58

Mediclinic International Ltd

Healthcare Providers

South Africa

73

Medtronic Inc

Medical Products

United States

82

Merck & Co Inc

Pharmaceuticals

United States

89

Metso OYJ

Industrial Engineering

Finland

77

Microsoft Corp

Software

United States

94

Mirvac Group

Real Estate

Australia

91

Mitsubishi Estate Co Ltd

Real Estate

Japan

91

Mitsui & Co Ltd

Support Services

Japan

97

Modern Times Group AB

Media

Sweden

81

MOL Hungarian Oil and Gas PLC

Oil & Gas Producers

Hungary

86

Molson Coors Brewing Co

Beverages

United States

50

Morgan Stanley

Financial Services

United States

64

MTR Corp

Travel & Tourism

Hong Kong

99

Munich Re AG

Insurance

Germany

79

National Australia Bank Ltd

Banks

Australia

49

NEC Corp

Computer Hardware & Electronic Office Equipment

Japan

56

Nedbank Group Ltd

Banks

South Africa

49

Neste Oil OYJ

Oil & Gas Producers

Finland

86

Nestle SA

Food Producers

Switzerland

67

Newmont Mining Corp

Mining

United States

83

Nexen Inc

Oil & Gas Producers

Canada

86

Nike Inc

Clothing, Accessories & Footwear

United States

54

Nippon Yusen KK

Industrial Transportation

Japan

78

NKSJ Holdings Inc

Insurance

Japan

79

Nokia OYJ

Communication Technology

Finland

55

Nong Shim Co Ltd

Food Producers

South Korea

67

Norsk Hydro ASA

Aluminum

Norway

46

Northern Trust Corp

Financial Services

United States

64

Novartis AG

Pharmaceuticals

Switzerland

89

Novo Nordisk A/S

Pharmaceuticals

Denmark

89

Novozymes A/S

Biotechnology

Denmark

51

NTT DOCOMO Inc

Mobile Telecommunications

Japan

84

NYSE Euronext

Financial Services

United States

64

RobecoSAM Gold Class

RobecoSAM Silver Class

RobecoSAM Bronze Class

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 113

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

Office Depot Inc

General Retailers

United States

72

Outokumpu OYJ

Steel

Finland

96

Outotec OYJ

Industrial Engineering

Finland

77

Owens Corning

Building Materials & Fixtures

United States

52

Panasonic Corp

Leisure Goods

Japan

80

Pearson PLC

Media

United Kingdom

81

PepsiCo Inc

Beverages

United States

50

Petroleo Brasileiro SA

Oil & Gas Producers

Brazil

86

Peugeot SA

Automobiles

France

48

PG&E Corp

Electricity

United States

62

Pirelli & C. SpA

Auto Parts & Tires

Italy

47

Portugal Telecom SGPS SA

Fixed Line Communications

Portugal

65

POSCO

Steel

South Korea

96

PostNL NV

Industrial Transportation

Netherlands

78

Praxair Inc

Chemicals

United States

53

Premier Farnell PLC

Support Services

United Kingdom

97

ProLogis Inc

Real Estate

United States

91

Provident Financial PLC

Financial Services

United Kingdom

64

PTT PCL

Oil & Gas Producers

Thailand

86

Public Service Enterprise Group Inc

Electricity

United States

62

Puma SE

Clothing, Accessories & Footwear

Germany

54

Qantas Airways Ltd

Airlines

Australia

45

Quest Diagnostics Inc

Healthcare Providers

United States

73

Rautaruukki OYJ

Steel

Finland

96

Reckitt Benckiser Group PLC

Nondurable Household Products

United Kingdom

85

Red Electrica Corp SA

Electricity

Spain

62

Redecard SA

Financial Services

Brazil

64

Reed Elsevier PLC

Media

United Kingdom

81

Rentokil Initial PLC

Support Services

United Kingdom

97

Repsol SA

Oil & Gas Producers

Spain

86

Reynolds American Inc

Tobacco

United States

98

Rio Tinto PLC

Mining

United Kingdom

83

Roche Holding AG

Pharmaceuticals

Switzerland

89

Rolls-Royce Holdings PLC

Aerospace & Defense

United Kingdom

44

Royal Bank of Canada

Banks

Canada

49

Royal Bank of Scotland Group PLC

Banks

United Kingdom

49

Royal Mail Group Ltd.

Industrial Transportation

United Kingdom

78

RWE AG

Electricity

Germany

62

Samsung Electro-Mechanics Co Ltd

Electric Components & Equipment

South Korea

61

RobecoSAM Gold Class

RobecoSAM Silver Class

114 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

RobecoSAM Bronze Class

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

Samsung Electronics Co Ltd

Semiconductors

South Korea

93

Samsung Heavy Industries Co Ltd

Industrial Engineering

South Korea

77

Samsung Life Insurance Co Ltd

Insurance

South Korea

79

Samsung SDI Co Ltd

Electronic Equipment

South Korea

63

Samsung Securities Co Ltd

Financial Services

South Korea

64

Sanofi

Pharmaceuticals

France

89

Santos Ltd

Oil & Gas Producers

Australia

86

SAP AG

Software

Germany

94

Sasol Ltd

Oil & Gas Producers

South Africa

86

SBM Offshore NV

Oil Equipment & Services

Netherlands

87

Schlumberger Ltd

Oil Equipment & Services

United States

87

Schneider Electric SA

Electric Components & Equipment

France

61

Sekisui Chemical Co Ltd

Home Construction

Japan

75

SembCorp Industries Ltd

Oil Equipment & Services

Singapore

87

Sempra Energy

Electricity

United States

62

Seven & I Holdings Co Ltd

General Retailers

Japan

72

Shaftesbury PLC

Real Estate

United Kingdom

91

Shinhan Financial Group Co Ltd

Banks

South Korea

49

Siam Cement PCL

Building Materials & Fixtures

Thailand

52

Siemens AG

Diversified Industrials

Germany

59

Sims Metal Management Ltd

Waste & Disposal Services

Australia

100

SK C&C Co Ltd

Computer Services & Internet

South Korea

57

SK Hynix Inc

Semiconductors

South Korea

93

SK Telecom Co Ltd

Mobile Telecommunications

South Korea

84

Skandinaviska Enskilda Banken AB

Banks

Sweden

49

SKF AB

Industrial Engineering

Sweden

77

Smith & Nephew PLC

Medical Products

United Kingdom

82

Snam SpA

Gas Distribution

Italy

71

Sociedad General de Aguas de Barcelona SA

Water

Spain

101

Societe Generale SA

Banks

France

49

Societe Television Francaise 1

Media

France

81

Sodexo

Hotels, Restaurants, Bars & Recreational Services

France

76

S-Oil Corp

Oil & Gas Producers

South Korea

86

Solvay SA

Chemicals

Belgium

53

Sonoco Products Co

Containers & Packaging

United States

58

Spectra Energy Corp

Gas Distribution

United States

71

Sprint Nextel Corp

Mobile Telecommunications

United States

84

Standard Chartered PLC

Banks

United Kingdom

49

Standard Life PLC

Insurance

United Kingdom

79

Stanley Black & Decker Inc

Durable Household Products

United States

60

RobecoSAM Gold Class

RobecoSAM Silver Class

RobecoSAM Bronze Class

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 115

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Staples Inc

General Retailers

United States

72

Starbucks Corp

Hotels, Restaurants, Bars & Recreational Services

United States

76

State Street Corp

Financial Services

United States

64

Statoil ASA

Oil & Gas Producers

Norway

86

Stockland

Real Estate

Australia

91

Storebrand ASA

Insurance

Norway

79

Suez Environnement Co

Water

France

101

Sulzer AG

Industrial Engineering

Switzerland

77

Sumitomo Corp

Support Services

Japan

97

Sumitomo Forestry Co Ltd

Home Construction

Japan

75

Suncor Energy Inc

Oil & Gas Producers

Canada

86

Svenska Cellulosa AB

Personal Products

Sweden

88

Swiss Re AG

Insurance

Switzerland

79

Swisscom AG

Fixed Line Communications

Switzerland

65

Symantec Corp

Software

United States

94

Syngenta AG

Chemicals

Switzerland

53

Sysmex Corp

Medical Products

Japan

82

Tabcorp Holdings Ltd

Gambling

Australia

70

Taiwan Semiconductor Manufacturing Co Ltd

Semiconductors

Taiwan

93

Target Corp

General Retailers

United States

72

Tata Consultancy Services Ltd

Computer Services & Internet

India

57

Tata Steel Ltd

Steel

India

96

Technip SA

Oil Equipment & Services

France

87

Teck Resources Ltd

Mining

Canada

83

Teijin Ltd

Chemicals

Japan

53

Telecom Italia SpA

Fixed Line Communications

Italy

65

Telefonica SA

Fixed Line Communications

Spain

65

Telenet Group Holding NV

Media

Belgium

81

Telenor ASA

Mobile Telecommunications

Norway

84

Teradata Corp

Computer Services & Internet

United States

57

Terna Rete Elettrica Nazionale SpA

Electricity

Italy

62

Thai Oil PCL

Oil & Gas Producers

Thailand

86

TNT Express NV

Industrial Transportation

Netherlands

78

Tokio Marine Holdings Inc

Insurance

Japan

79

Tokyu Land Corp

Real Estate

Japan

91

Toshiba Corp

Diversified Industrials

Japan

59

Total SA

Oil & Gas Producers

France

86

TOTO Ltd

Building Materials & Fixtures

Japan

52

Toyota Motor Corp

Automobiles

Japan

48

RobecoSAM Gold Class

RobecoSAM Silver Class

116 â 0zRXSz1 " â 3lX 1 AmxARmum <XA Rzzt

RobecoSAM Bronze Class

Page

RobecoSAM Distinction

RobecoSAM Sector Leader

RobecoSAM Sector Mover

Company name

Sector

Country

Page

TransCanada Corp

Pipelines

Canada

90

Transurban Group

Industrial Transportation

Australia

78

TUI AG

Travel & Tourism

Germany

99

TUI Travel PLC

Travel & Tourism

United Kingdom

99

UBS AG

Banks

Switzerland

49

Umicore SA

Chemicals

Belgium

53

Unibail-Rodamco SE

Real Estate

France

91

UniCredit SpA

Banks

Italy

49

Unilever NV

Food Producers

Netherlands

67

United Microelectronics Corp

Semiconductors

Taiwan

93

United Parcel Service Inc

Industrial Transportation

United States

78

United Utilities Group PLC

Water

United Kingdom

101

UnitedHealth Group Inc

Healthcare Providers

United States

73

UPM-Kymmene OYJ

Forestry & Paper

Finland

68

Valeo SA

Auto Parts & Tires

France

47

Veolia Environnement SA

Water

France

101

Vestas Wind Systems A/S

Renewable Energy Equipment

Denmark

92

Vodafone Group PLC

Mobile Telecommunications

United Kingdom

84

Volkswagen AG

Automobiles

Germany

48

Volvo AB

Industrial Engineering

Sweden

77

Waste Management Inc

Waste & Disposal Services

United States

100

Wesfarmers Ltd

General Retailers

Australia

72

Westpac Banking Corp

Banks

Australia

49

Weyerhaeuser Co

Real Estate

United States

91

Wipro Ltd

Computer Services & Internet

India

57

Wolters Kluwer NV

Media

Netherlands

81

Woodside Petroleum Ltd

Oil & Gas Producers

Australia

86

Woolworths Holdings Ltd

General Retailers

South Africa

72

Woolworths Ltd

Food & Drug Retailers

Australia

66

Woongjin Coway Co Ltd

Durable Household Products

South Korea

60

Woori Investment & Securities Co Ltd

Financial Services

South Korea

64

WPP PLC

Media

United Kingdom

81

Xcel Energy Inc

Electricity

United States

62

Xstrata PLC

Mining

United Kingdom

83

Xylem Inc

Industrial Engineering

United States

77

Yokogawa Electric Corp

Electronic Equipment

Japan

63

Zurich Insurance Group AG

Insurance

Switzerland

79

RobecoSAM Gold Class

RobecoSAM Silver Class

RobecoSAM Bronze Class

3lX 1 AmxARmum <XA Rzzt â 0zRXSz1 " â 117

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