ce Overview 180%, 160% 140% I 120% 100% 80% I 60% 40% 20% 0% Historical Performance vs MSCI World and Barclays Agg Risk Premia Portfolio —MSCI World - Excess Return —Banlays Agg F:xectcs Return Q s s • P Summary Statistics Risk Premia Data From 24-Feb-012 to 24-Feb-17 s MSCI World • s Barclays Agg-

ance Overview 180%, 160% 140% I 120% 100% 80% 60% 40% 20% 0% Historical Performance vs MSCI World and Barclays Agg Risk Prcmia Portfolio —MSCI World - Excess Return —Ban.lays Agg Excess Return • Q s 1- s • t, s ▪ s Summary Statistics Data From 24-Feb-012 to 24-Feb-17 Risk Premia Portfolio MSCI Wor