WIXLIB

Trucost’s Physical Risk DataTrucost’s Physical Risk dataset9 allows users to understand the risk and sensitivity of company assets tothe physical risks of climate change. Climate modelling datasets and hazard models are overlaid with theasset locations of companies. Sensitivity analysis is carried out for each asset, to assess whether thecompany’s operations would be affected by each specific physical risk, based on the asset type.10These climate modelling datasets and hazard models have been created for each specific physical risk.Physical risk is judged by a score ranging between 1 and 100. The physical risks covered are: wildfire,cold wave, heatwave, water stress, sea level rise, flood and hurricanes. The index methodology uses acomposite physical risk score that is an average of all 7 physical risk indicators, weighted for companyspecific sensitivity to each physical risk type.Other Trucost Data Used: GHG Emissions, Emissions Disclosure Status, Green-to-Brown Share, FossilFuel Reserves, and Sector Revenues.Please refer to Appendix III for the Trucost Methodology, and http://www.trucost.com/ for moreinformation on Trucost generally.Science Based Target Initiative (SBTI)The Science Based Targets initiative champions science-based target setting as a powerful way ofboosting companies’ competitive advantage in the transition to a low-carbon economy. The initiative is acollaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF),and the United Nations Global Compact (UNGC).Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered “sciencebased” if they are in line with what the latest climate science says is necessary to meet the goals of theParis Agreement—to limit global warming to well-below 2 C above pre-industrial levels and pursue effortsto limit warming to 1.5 C.For more information on the initiative, please refer to https://sciencebasedtargets.org/.The S&P DJI ESG ScoreThe S&P DJI ESG Score is built from S&P Global’s ‘Corporate Sustainability Assessment’ (CSA). Acompany’s S&P DJI ESG score may either be calculated from data received directly by a companycompleting the comprehensive assessment (together with supporting documents), or – in the absence ofthis – by using publicly available information. S&P Global uses the CSA results to then calculate the S&PDJI ESG Scores.For more information on the CSA Process, please refer to https://www.spglobal.com/esg/csa/.For more information on S&P DJI ESG Scores, please refer to the S&P DJI ESG Score Methodology.For the purposes of ESG assessment, companies are assigned to industries defined by S&P Global, andthe assessment is largely specific to each industry. S&P Global uses the Global Industry ClassificationStandard (GICS ) as its starting point for determining industry classification. At the industry group andsector levels, the S&P Global CSA Industries match the standard GICS classifications, but some nonstandard aggregations are done at the industry level.For information on S&P Global CSA Industry-GICS Sub-Industry Mapping, please see here.9The 2050 High Climate Scenario is used.Lord. R, Bullock, S. Birt, M. (2019). ‘Understanding Climate Risk at the Asset Level: The Interplay of Transition and PhysicalRisks’. ical-risk-report05a.pdf.10S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology6

Supporting DocumentsThis methodology is meant to be read in conjunction with supporting documents providing greater detailwith respect to the policies, procedures and calculations described herein. References throughout themethodology direct the reader to the relevant supporting document for further information on a specifictopic. The list of the main supplemental documents for this methodology and the hyperlinks to thosedocuments is as follows:Supporting DocumentS&P Dow Jones Indices’ Equity Indices Policies& Practices MethodologyS&P Dow Jones Indices’ Index MathematicsMethodologyS&P Dow Jones Indices’ Float AdjustmentMethodologyS&P Dow Jones Indices’ Global IndustryClassif ication Standard (GICS) MethodologyS&P DJI ESG Score MethodologyURLEquity Indices Policies & PracticesIndex Mathematics MethodologyFloat Adjustment MethodologyGICS MethodologyS&P DJI ESG Score MethodologyThe methodology is created by S&P Dow Jones Indices to achieve the aforementioned objective ofmeasuring the underlying interest of each index governed by this methodology document. Any changes toor deviations from this methodology are made in the sole judgment and discretion of S&P Dow JonesIndices so that the index continues to achieve its o bjective.The Benchmark Administrator for the indices under this methodology is S&P DJI Netherlands B.V.S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology7

Eligibility CriteriaIndex UniverseAt each rebalancing ref erence date, the following index is constructed from an Eligible Universeconsisting of the constituents of an underlying index, as defined below:Net Zero 2050 Climate Transition ESG IndexSeriesUnderlying IndexDow Jones Brookfield Global Inf rastructure Net Dow Jones Brookfield Global Inf rastructureZero 2050 Climate Transition ESG IndexFor information on an underlying index, please refer to the respective index methodology, available atwww.spglobal.com/spdji.Eligibility FactorsClosed-End Funds. Except for closed-end funds, all stocks are eligible.Index ExclusionsAt each rebalancing ref erence date, companies are excluded from the eligible universe based onBusiness Activities, UNGC Principle Violations, and Controversies (Media and Stakeholder Analysis).Exclusions Based on Business ActivitiesAs of each rebalancing reference date, companies with the following specific business activities areexcluded from the eligible universe:Sustainalytics ProductInvolvementControversial WeaponsTobaccoSustainalyticsCategoryof Involvement andDescriptionTailor Made andEssential: Thecompany is involvedin the core weaponsystem, orcomponents/servicesof the core weaponsystem that areconsidered tailormade and essentialf or the lethal use ofthe weapon.Production: Thecompanymanuf actures tobaccoproducts.RelatedProducts/Services:S&P DJISustainalyticsLevel ofInvolvement InvolvementProxyThresholdNAS&P DJISignificantOwnershipThreshold 0% 25% 0% 25% 10% 25%RevenueS&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology8

Sustainalytics ProductInvolvementThermal CoalArctic Oil & Gas ExplorationSustainalyticsCategoryof Involvement andDescriptionThe company suppliestobacco-relatedproducts/services.Retail: The companyderives revenues fromthe distribution and/orretail sale of tobaccoproducts.Power Generation:The companygenerates electricityf rom thermal coal.Extraction: Thecompany extractselectricity fromthermal coal.Extraction: Thecompany is involvedin oil and gasexploration in Arcticregions.S&P DJISustainalyticsLevel ofInvolvement InvolvementProxyThresholdS&P DJISignificantOwnershipThreshold 5% 25%Revenue 10%NotRelevantRevenue 10%NotRelevantRevenue 0%NotRelevantLevel of Involvement refers to the company’s direct exposure to such products, while SignificantOwnership indicates where the company has indirect involvement via some specified level of ownershipof a subsidiary company with involvement.These exclusions use business involvement datasets from Sustainalytics. Companies not covered bySustainalytics are excluded from index inclusion.Please refer to http://www.sustainalytics.com/ for more information.Exclusions Based on Sustainalytics’ Global Standards ScreeningSustainalytics’ Global Standards Screening (GSS) provides an assessment of a company’s impact onstakeholders and the extent to which a company causes, contributes , or is linked to violations ofinternational norms and standards. The basis of the GSS assessments is the United Nations (UN) GlobalCompact Principles. Information regarding related standards is also provided in the screening, includingthe Organization for Economic Co-operation and Development (OECD) Guidelines for MultinationalEnterprises and the UN Guiding Principles on Business and Human Rights, as well as their underlyingconventions. Sustainalytics classifies companies into the following three statuses: Non-Compliant. Classification given to companies that do not act in accordance with the UNGCprinciples and its associated standards, conventions, and treaties. Watchlist. Classification given to companies that are at risk of violating one or more principles,f or which all dimensions for Non-Compliant status could not be established or confirmed. Compliant. Classification given to companies that act in accordance with the UNGC principlesand its associated standards, conventions, and treaties.As of each rebalancing reference date, companies classified as Non-Compliant, according toSustainalytics, are ineligible for index inclusion. Companies not covered by Sustainalytics are excludedf rom index inclusion.Please ref er to http://www.sustainalytics.com/ for more information.S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology9

Controversies Monitoring: Media and Stakeholder Analysis OverlayIn addition to the above, S&P Global uses RepRisk, a leading data science company, for daily filtering,screening, and analysis of ESG risk incidents and controversial activities related to companies within theindices 11.In cases where risks are presented, S&P Global releases a Media and Stakeholder Analysis (MSA),which includes a range of issues such as economic crime and corruption, fraud, illegal commercialpractices, human rights issues, labor disputes, workplace safety, catastrophic accidents, andenvironmental disasters.The Index Committee reviews constituents flagged by S&P Global’s MSA to evaluate the potential impactof controversial company activities on the composition of the indices. If the Index Committee decides toremove a company in question, that company is ineligible for re-entry into the index for one full calendaryear, beginning with the subsequent rebalancing.For more information on RepRisk, please refer to www.reprisk.com. This service is not considered adirect contribution to the index construction process.Multiple Classes of StockAll publicly listed multiple share class lines are eligible for index inclusion subject to meeting the eligibilitycriteria. For more information regarding the treatment of multiple share classes, please refer to ApproachA within the Multiple Share Classes section of the S&P Dow Jones Indices’ Equity Indices Policies &Practices Methodology.11RepRisk, an ESG data science company, leverages the combination of AI and machine learning with human intelligence tosystematically analyze public information in 23 languages and identify material ESG risks. With daily data updates across 100 ESG risk factors, RepRisk provides consistent, timely, and actionable data for risk management and ESG integration across acompany’s operations, business relationships, and investments.S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology10

Index ConstructionConstituent SelectionAt each rebalancing, the eligible constituents of each underlying index are selected and form each index,subject to the optimization constraints below.Constituent WeightingAt each rebalancing ref erence date, weights are determined to minimize the sum of the squareddif ference between the parent weight for each constituent (i) and its optimized weight, divided by itsparent weight, subject to constraints. The objective function is as follows:𝟏(𝑶𝒑𝒕𝒊𝒎𝒊𝒛𝒆𝒅 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊 𝑷𝒂𝒓𝒆𝒏𝒕 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊 ) 𝟐]𝐌𝐢𝐧𝐢𝐦𝐢𝐳𝐞 ( [𝒏𝑷𝒂𝒓𝒆𝒏𝒕 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊𝟏(𝑶𝒑𝒕𝒊𝒎𝒊𝒛𝒆𝒅 𝑺𝒆𝒄𝒕𝒐𝒓 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊 𝑷𝒂𝒓𝒆𝒏𝒕 𝑺𝒆𝒄𝒕𝒐𝒓 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊 ) 𝟐] [𝒌𝑷𝒂𝒓𝒆𝒏𝒕 𝑺𝒆𝒄𝒕𝒐𝒓 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊𝟏(𝑶𝒑𝒕𝒊𝒎𝒊𝒛𝒆𝒅 𝑪𝒐𝒖𝒏𝒕𝒓𝒚 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊 𝑷𝒂𝒓𝒆𝒏𝒕 𝑪𝒐𝒖𝒏𝒕𝒓𝒚 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊 ) 𝟐]) [𝒎𝑷𝒂𝒓𝒆𝒏𝒕 𝑪𝒐𝒖𝒏𝒕𝒓𝒚 𝑾𝒆𝒊𝒈𝒉𝒕 𝒊Optimization ConstraintsAs of each rebalancing reference date, the optimizer will seek to minimize the above objective function foreach index in the series while satisfying the criteria that index constituents will have an index weight of atleast 0.01%, and all applicable combinations of the below transition risk, physical risk, climateopportunities, and index construction constraints.Table 1. Transition Risk ConstraintsConstraint*1.5ºC Climate Scenario TransitionPathway Budget Index AlignmentDow Jones Brookfield Global Infrastructure Net Zero 2050 ClimateTransition ESG Index CDataSourcewhere:0 C [50% (weighted average of TPBA of underlying index)]TrucostFor more details see Appendix II.Weighted-average CarbonIntensity (WACI) Target underlying WACI 70% Buffer** AnchorWACI*** 7% Decarbonization TrajectoryWACI Target12(1 7%) (𝑞/4)1 𝐼𝑛𝑓Trucost Buffer**where:q number of rebalances since index launch dateInf Enterprise Value Including Cash (EVIC) growth of parent indexsince index Anchor Date 12Weight of Eligible Science BasedTargets Companies 120% weight of group in underlying indexWeighted-average S&P DJI ESGScore (waESG) of eligible index waESG****TrucostTrucost /ScienceBasedTargetsInitiativeS&P Global– S&P DJIThe index ‘Anchor Date’ is the date of the reference index composition and base carbon intensity calculation used to determin ethe index’s decarbonization trajectory. It is the rebalancing reference date for the most recent index rebalancing prior to t heindex's launch date. Please see Appendix V for more details.S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology11

Constraint*High Climate Impact SectorsRevenue Proportion (HCISRP)Weight of Non-Disclosing CarbonCompaniesFossil Fuel Reserves (FFR)Dow Jones Brookfield Global Infrastructure Net Zero 2050 ClimateTransition ESG IndexDataSource HCISRP of underlying indexTrucost 200% weight in underlying indexTrucost FFR of underlying indexTrucost*Constraints are defined in Constraint-Related Definitions below.Where Buffer 95% to represent a 5% margin to allow for drift between targeted and realized WACI .WACI of index on the index’s Anchor Date. Prior to launch date, the 7% Decarbonization Trajectory WACI Target was reset tothe index Anchor Date. Prior to launch, the 7% decarbonization Trajectory WACI Target was calculated based on the indexInception Date.**** Stocks without an S&P DJI ESG Score are excluded from the waESG calculation.***** If a company does not have an S&P DJI ESG Score, the company is assigned the underlying index’s waESG prior to rankingstocks by ESG score.*****Table 2. Physical Risk ConstraintsConstraintWeighted-average Physical RiskScore (waPR)Dow Jones Brookfield Global Infrastructure Net Zero 2050 ClimateTransition ESG IndexDataSource waPR of underlying indexTrucost 𝐴𝑖 𝑃𝑎𝑟𝑒𝑛𝑡 𝑊𝑒𝑖𝑔ℎ𝑡𝑖where:𝐴𝑖 ρ Physical Risk Max CompanyWeight𝑃𝑅𝑖 100𝑃 𝑅𝑖 10𝑃𝑅𝑖 is the Physical Risk score of the company 𝑖Trucostandρ 𝑃ℎ𝑦𝑠𝑖𝑐𝑎𝑙 𝑅𝑖𝑠𝑘 𝑆𝑐𝑜𝑟𝑒 95𝑡ℎ 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑖𝑙𝑒 10.𝑃ℎ𝑦𝑠𝑖𝑐𝑎𝑙 𝑅𝑖𝑠𝑘 𝑆𝑐𝑜𝑟𝑒 95𝑡ℎ 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑖𝑙𝑒 100See Appendix I for more details. (This constraint is only applied tocompanies with a PR such that 𝐴𝑖 4 and a Physical Risk Score higherthan 10)Table 3. Climate Opportunities ConstraintConstraintGreen-to-Brown Revenue Share(GBR)Dow Jones Brookfield Global Infrastructure Net Zero 2050 ClimateTransition ESG IndexDataSource GBR of underlying indexTrucostTable 4. Index Construction ConstraintsConstraintDiversification Relative CompanyWeightDiversification Absolute MaxCompany WeightDow Jones Brookfield Global Infrastructure Net Zero 2050 Climate Transition ESGIndex 2% from underlying index company weight max(5%, underlying company weight)Hypothetical Days to Buy/Sell Daily Participation Liquidityi Notional Portfolio Sizewhere:Liquidity Max Stock WeightHypothetical Days to Buy/Sell 5Daily Participation 10%Liquidity 3-month Median Daily Value Traded in USDMinimum Stock Weight LowerThreshold13Notional Portfolio Size 500mn in USDExisting constituents: 0.01%13New constituents: max(0.01%, min(0.05,0.5 underlying stock weight))Constraints relating to existing constituents do not apply to the historical rebalancing on the index ‘Anchor Date’. (See Appendix Vfor more details).S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology12

Constraint Relaxation HierarchyIn the case that the optimization does not solve for a certain period each constraint in the hierarchy will bepartially relaxed in the order listed below and repeated, if necessary, until a solution is found. Weighted-average S&P DJI ESG Score Weighted-average Physical Risk Score Weight of Non-Disclosing Carbon Companies Diversification Absolute Max Stock Weight Diversification Relative Stock Weight Liquidity Max Stock Weight Fossil Fuel Reserves Physical Risk Max Stock Weight Green-to-Brown Revenue Share 1.5ºC Climate Scenario Transition Pathway Budget Index AlignmentThe f ollowing constraints are considered hard constraints and will not be relaxed: Weighted-average Carbon Intensity (WACI) Target 7% Decarbonization Trajectory WACI Target High Climate Impact Sectors Revenue Proportion Weight of Eligible Science Based Targets CompaniesConstraint-Related Definitions1.5ºC Climate Scenario Transition Pathway Budget Index AlignmentThe alignment of the index14 is calculated as follows:Winsorized TPBA𝑖 wi EVICiwhere:𝑤𝑖 weight of the company 𝑖 in the index𝑊𝑖𝑛𝑠𝑜𝑟𝑖𝑧𝑒𝑑 𝑇𝑃𝐵𝐴𝑖 max (2.5 percentile of the TPBA of underlying index,TPBA𝑖 )𝐸𝑉𝐼𝐶𝑖 enterprise value including cash of the company 𝑖The Transition Pathway Budget Alignment (TPBA) of each company i is calculated as the sum of thedif ference between a company’s carbon budget and emissions (either realized or predicted) both usinghistory and future projections. A TPBA of 0 would be compatible with a 1.5ºC climate scenario, a budgetbelow 0 would be compatible with better than a 1.5ºC climate scenario and a budget above 0 would notbe compatible with a 1.5ºC climate scenario.This metric is calculated using the GHG emissions dataset and the 1.5ºC Climate Transition PathwayModel Scenario dataset provided by Trucost.14For history prior to November 2018, only the realized GHG data available at that point-in-time was used in the calculation of theTransition Pathway Budget Alignment (i.e., Predicted GHG was included from December 2018 onwards).S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology13

Weighted-Average Carbon Intensity (WACI) wi GHG1i GHG2i GHG3iEVICiwhere:𝑤𝑖 weight of the company 𝑖 in the index𝐺𝐻𝐺1𝑖 Scope 1 GHG emissions in tCO2e for the company 𝑖𝐺𝐻𝐺2𝑖 Scope 2 GHG emissions in tCO2e for the company 𝑖𝐺𝐻𝐺3𝑖 Scope 3 (upstream and downstream) GHG emissions in tCO2e for the company 𝑖15𝐸𝑉𝐼𝐶𝑖 enterprise value including cash of the company 𝑖This metric is calculated using the GHG emissions dataset provided by Trucost.Eligible Science Based TargetsEligible Science Based Targets Companies are those companies with publicly disclosed targets from theScience Based Targets Initiative (SBTI), subject to the following conditions:1. The target is publicly disclosed and is 1.5ºC aligned2. The targets set include all scope 1, scope 2 and scope 3 (upstream and downstream) emissions3. The company discloses their scope 1, scope 2 and scope 3 emissions sufficiently4. Companies must show a 7% decarbonization year-on-year, for the past 3 years5. Companies’ targets must represent an annualized decarbonization rate of 7% when accountingf or scopes 1, 2 and 3 (upstream and downstream) target

S&P Dow Jones Indices: DJ Brookfield Global Infrastructure Net Zero 2050 Climate Transition Index Methodology 4 Introduction Index Objective The Dow Jones Brookfield Global Infrastructure Net Zero 2050 Climate Transition ESG Index measures the performance of eligible equity securities from an underlying parent index selected and weighted to be