Xtrackers MSCI Brazil UCITS ETF 2C

The Investment Objective of the Sub-Fund is to track the performance of the Reference Index, which is the MSCI Total Return Net Brazil Index (the ?Reference Index? as described below under ?General Description of the Reference Index?). The Company does not intend to make dividend payments in respect of Class 2C Shares which is the only Class of Shares available to Hong Kong investors. The Reference Index is a free float-adjusted market capitalisation weighted index reflecting the performance of listed equity securities of large and mid capitalisation companies of Brazil. The Reference Index is a total return net index. A total return net index calculates the performance of the index constituents on the basis that any dividends or distributions are reinvested after the deduction of any taxes that may apply.