rgy 3.9 34 3.9 3.4 Health Care 18.7 16.4 18.7 16.4 Industrials 12.7 11.1 12.7 11.1 Information Technology 64.7 56.6 26.0 22.1 Materials 24 2.1 24 2.1 Telecommunication Services 0.1 0.1 0.1 0.1 Utilities 0.2 0.2 0.2 0.2 S&P 500 ex. Financials & Real Estate 117.0 102.4 78.3 68.5 S&P 500 GAAP EPS impact ($9) ($8) Source: FactS

4% 8% Industrials -58% 64% 37% 7% Health Care -39% 60% 42% 8% Financials -21% 58% 30% 6% Information Technology -63% 71% 53% 6% Telecommunication Services -57% 68% 54% 6% Utilities -141% 85% 14% 0% Sector Total % of companies experiencing "catastrophic loss," 1980-2014 All sectors Consumer

onsumer Staples 96.0% Energy 100.0% Financials 100.0% Health Caro 95.8% Industrials 99.4% Information Technology 99.1% Materials 100.0% Telecommunication Services 100.0% Utilities 100.0% Sows MSS Owns'sSink 487 402 446 422 8ot,S$STtiti EPS (% of of cal % beat % miss EPS surprise I%) EPS W./ rid

als 5.3% Energy Equipment & Services 3.8% Defensives 5.6% Information Technology 5.4% Utilities -4.6% DBUSBRTE (Reasonable PE Tech) -6.0% Telecommunication Services 6.1% Consumer 4.8% Consumer Staples 2.3% Consumer Discretionary 6.8% Health Care 10.1% Consumer Staples 2.3% Information Technology 5.4%

formation Technology 95.1% 66 68% 16% 6.4% 8.1% 39% 24% 0.6% 1.2% Materials 100.0% 28 46% 46% -2.1% -16.6% 14% 75% -5.1% -13.3% Telecommunication Services 100.0% 5 80% 20% 3.5% 15.3% 40% 20% -2.1% 12.3% Utilities 100.0% 29 52% 38% 0.3% -2.0% 21% 72% -4.6% -2.0% San* AS(S. Omesase

5% Energy Equipment & Services -11.6% Defensives 3.0% Information Technology 8.2% Utilities -6.116 013US8RTE (Reasonable PE Tech) • -10.1% Telecommunication Services 2.0% Consumer 8.6% Consumer Staples 3.7% Consumer Discretionary 12.5% Health Care 4.8% Consumer Staples 3.7% Information Technology 8.2%

5.3% Energy Equipment & Services -3.5% Defensives -3.5% Information Technology -6.7% Utilities 7.3% DBUSBRTE (Reasonable PE Tech) • -17.4% Telecommunication Services 8.1% Consumer -4.8% Consumer Staples -1.5% Consumer Discretionary -7.3% Health Care -8.8% Consumer Staples -1.5% Information Technology

5.3% Energy Equipment & Services -3.5% Defensives -3.5% Information Technology -6.7% Utilities 7.3% DBUSBRTE (Reasonable PE Tech) • -17.4% Telecommunication Services 8.1% Consumer -4.8% Consumer Staples -1.5% Consumer Discretionary -7.3% Health Care -8.8% Consumer Staples -1.5% Information Technology

Performance Utilities 14.8% Consumer Staples 10.5% Health Care 10.2% Consumer Discretionary 4.4% Energy 2.8% Information Technology 1.3% Telecommunication Services 0.8% S&P 500 0.0% Industrials -2.9% Materials -11.6% Financials -18.4% S&P 500 YTD Market Return Distribution Source: Bloomberg, through 1