Features Bolsas y Mercados Españoles (BME) calculates. Publishes and disseminates in real-time the IBEX Index. BME. The company that integrates the principal securities markets and financial systems in Spain. Is Europe's fifth biggest exchange operator by equity turnover according to data from FESE. The trading volume in September came in at €42.8 billion, up 39% from the previous month and the number of trades reached 3.7 million, up 18% from the same month a year earlier. IBEX 35® LEVERAGE NET X3 is a tradable index suitable for derivatives. Designed to represent the triple performance of the IBEX 35 NET RETURN. The IBEX indices measure the performance of securities listed on the Spanish Stock Market. IBEX 35® LEVERAGE NET X3 is the benchmark for warrants issued by Societe Generale. The IBEX 35® LEVERAGE NET X3 offers triple exposure to the daily return on the IBEX 35® NET RETURN. through the investment of an initial capital plus an equivalent loaned capital. A positive daily return on the IBEX 35® NET RETURN yields an also positive return. but triple that amount for the IBEX 35® LEVERAGE NET X3 and viceversa. The IBEX indices are Eurodenominated and calculated in real-time within the European time zone. (2012-2016) Performance (Capital Value) – EUR terms 28.000 23.000 18.000 The formula for the calculation of IBEX 35® LEVERAGE NET X3 incorporates a financing term to achieve the leverage needed. 13.000 8.000 3.000 Sociedad de Bolsas also calculates a IBEX 35 ® DOUBLE. TRIPLE, QUINTUPLE & X10 SHORT and a IBEX 35® DOUBLE, QUINTUPLE & X10 LEVERAGE. 5® INVERSO Constituents IBEX 35 Security name INDITEX SANTANDER TELEFONICA IBERDROLA BBVA AMADEUS IT REPSOL CAIXABANK ABERTIS INFR FERROVIAL AENA GAS NATURAL Ticker ITX SAN TEF IBE BBVA AMS REP CABK ABE FER AENA GAS Weig% 13.38 12.62 10.20 8.50 7.64 4.32 3.89 3.28 3.05 3.01 2.60 2.43 Security name RED ELE.CORP INT.AIRL.GRP GRIFOLS ENDESA ACS CONST. B. SABADELL ENAGAS GAMESA BANKINTER BANKIA B.POPULAR MAPFRE Ticker REE IAG GRF ELE ACS SAB ENG GAM BKT BKIA POP MAP Weig% 2.32 2.25 1.84 1.77 1.76 1.45 1.39 1.31 1.31 1.13 1.06 0.97 Security name MEDIASET ESP DIA MERLIN PROP. ARCEL.MITTAL ACCIONA CELLNEX ACERINOX VISCOFAN MELIA HOTELS TEC.REUNIDAS INDRA "A" Ticker TL5 DIA MRL MTS ANA CLNX ACX VIS MEL TRE IDR Weig% 0.80 0.74 0.71 0.68 0.66 0.65 0.56 0.50 0.46 0.41 0.36 IBEX Index Series BEX 35®NVERSO Indices IBEX® recios IBEX 35 INVERSO (2008-2014) IBEX Top Dividendo® IBEX 35® IBEX Medium Cap® IBEX SmallCap® IBEX Top Dividendo TR / NR IBEX 35 TR/ NR IBEX Medium Cap TR / NR IBEX Small Cap TR / NR IBEX 35® IBEX 35® Short Leverage IBEX 35® IBEX 35® IBEX 35® IBEX 35® IBEX 35® IBEX 35 IBEX 35® Short Short Short Short X2 X3 X5 Net X10 Net X2 X3 X5 X10 IBEX 35® X2 Total X3 Net X2 Net IBEX 35® Sectors IBEX 35® IBEX 35® IBEX 35® Bank Energy Construction Returns Breakdown 6 M % 1 2M % 3Y % I B EX 3 5 - 3 . 85 - 1 4 .5 8 - 3 . 99 4.99 I B EX 3 5 T o ta l Re tur n - 1 . 34 - 1 0 .7 9 9.52 36.56 I B EX 3 5 Ne t R et ur n - 1 . 81 - 1 1 .5 2 6.67 29.43 - 1 1 .5 4 - 3 2 .7 9 - 2 2 .1 3 - 2 1 .3 8 - 6 . 85 - 2 6 .6 7 1.37 33.10 I B EX 3 5 D ou b le L ev er age I B EX 3 5 D ou b le L ev er age Gr o s s I B EX 3 5 D ou b le L ev er age N et 5Y % - 7 . 73 - 2 7 .8 6 - 3 . 84 19.57 I B EX 3 5 Le v er age X 3 - 2 2 .5 3 - 5 1 .4 8 - 4 6 .2 6 - 5 6 .3 4 I B EX 3 5 Le v er age Ne t X 3 - 1 7 .4 7 - 4 6 .0 2 - 2 6 .2 3 - - 4 6 .2 7 - 7 8 .0 5 - 7 4 .9 8 - 7 3 3 8 , 18 350,71 - - I B EX 3 5 Le v er age Ne t X 5 I B EX 3 5 A pa la nc ad o N et o X 1 0( * ) Information Index Launch 22nd November 2012 Index Calculation Real-time Weighting Index based on IBEX Volatility 35 Total Net Return 1 - Y ear % 3 - Ye ar s % 5 - Ye ar s % I B EX 3 5 27.21 22.18 23.81 I B EX 3 5 T o ta l Re tur n 27.18 22.17 23.79 Currency I B EX 3 5 Ne t R et ur n 27.18 22.17 23.79 I B EX 3 5 D ou b le L ev er age Euro 55.46 44.84 47.89 I B EX 3 5 D ou b le L ev er age Gr o s s 55.39 44.81 47.84 I B EX 3 5 D ou b le L ev er age N et 55.40 44.81 47.84 I B EX 3 5 Le v er age X 3 85.25 68.23 72.40 I B EX 3 5 Le v er age Ne t X 3 85.14 84.38 - I B EX 3 5 Le v er age Ne t X 5 153.35 150.49 - I B EX 3 5 A pa la nc ad o N et o X 1 0( * ) 802,73 - - Base Date December 30th 2011 Base Level 10.000 S harpe Ratio IBEX 35 IBEX TR IBEX NR IBEX X2 IBEX X2 G IBEX X2 N IBEX X3 IBEX N X3 IBEX N X5 1Y -0,0655 -0,0551 -0,0570 -0,0736 -0,0632 -0,0652 -0,0814 -0,0730 -0,0883 3Y -0,0102 0,0028 0,0002 -0,0175 -0,0045 -0,0071 -0,0243 -0,0698 -0,0846 5Y -0,0004 0,0138 0,0109 -0,0089 0,0053 0,0024 -0,0166 - - IBEX N X10 -0,1198 Review Dates Quarterly Ordinary in June and - December - Follow-ups in March and September Vendor Codes I SI N E S 0 SI 0 0 0 00 0 5 R e ut er s B l o omb er g I B EX 3 5 < .I B EX > I B EX I nd ex <GO > I B EX 3 5 T o ta l Re tur n E S 0 SI 0 0 0 00 4 7 < .I B EX T R> I B EX 3 5TR I nd ex <GO > I B EX 3 5 Ne t R et ur n E S 0 SI 0 0 0 00 9 6 < .I B EX D L> I B EX D L I nde x < GO > I B EX 3 5 X 2 E S 0 SI 0 0 0 01 1 2 < .I B EX D LG> I B EX P I nd ex <GO > I B EX 3 5 X 2 Gr o s s E S 0 SI 0 0 0 01 3 8 < .I B EX D LN> I B EX Q I nd ex <GO > I B EX 3 5 X 2 Ne t E S 0 SI 0 0 0 01 0 4 < .I B EX T L> I B EX T L I nd ex <GO > I B EX 3 5 X 3 E S 0 SI 0 0 0 01 7 9 < .I B EX TN > I B EX X 3NT I nd e x <GO > I B EX 3 5 Ne t X 3 E S 0 SI 0 0 0 01 8 7 Sociedad de Bolsas < .I B EX LN> I B EX X 5NT I nd e x <GO > I B EX 3 5 Ne t X 5 E S 0 SI 0 0 0 00 0 5 data as at < .I B EX > I B EX I nd ex <GO > I B EX 3 5 Ne t X 10 E S 0 SI 0 0 0 17 2 2 < .I B EX UX > I B EX SH L I nd ex <GO > ( * ) T he le v el o f I BEX 3 5 l e ver a ge Ne t X 1 0( * ) wa s adj us te d a s fr om 2 9 J un e 2 0 16 a cc or d in g t o th e se ct i o n 3. 3 0. 1 of t he Te c hn i ca l Reg u la t i on s f or th e Co mp os i t io n a nd Ca l cu la t i on of t h e S oc i ed ad d e Bo l sa s, S .A. in d ic es ibex@grupobme.es www.bolsasymercados.es © Sociedad de Bolsas. S.A. 2016. All rights reserved. "IBEX 35®". "IBEX Medium Cap®". "IBEX Small Cap®" and “IBEX Top Dividendo®” are trade marks of the Sociedad de Bolsas. S.A. and all such marks are used under licence. All rights in and to the IBEX 35. IBEX Medium Cap. IBEX Small Cap and IBEX Top Dividendo vest in Sociedad de Bolsas and its licensors. All information is provided for information purposes only. No responsibility or liability is accepted by Sociedad de Bolsas or its licensors for any errors. loss or liability arising from the use of this publication. Distribution of IBEX index values and the use of the IBEX Indices to create financial products requires a licence from Sociedad de Bolsas. Index Rules Available at www.sbolsas.com Factsheet Data 16th September 2016