TWND.L Regulatory News (TWND)

Dear all,

In order to reduce costs and improve fungibility, Lyxor has decided to merge the C-USD unit class (the" Absorbed Class") into the C-EUR unit class (the "Absorbing Class") of the following ETFs at close of business on 22nd June ( 4 original lines and 4 multi currency lines).

The two classes will be merged at an exchange ratio of 1 C-USD unit for 1 C-EUR unit. The merging of these two unit classes will involve the reallocation of the Absorbed Class assets to the Absorbing Class. When these units have been merged, the Absorbing Class will be listed on the same exchanges as the Absorbed Class on 23rd June 2017 and will keep the same TIDMs.

Prior to the above mentioned mergers:

- the aforementioned Absorbed Classes (USD unit classes) will be removed from trading on the London Stock Exchange and all other markets on which they are quoting on the close of 22nd June 2017 which will be the last trading day for these lines ( 4 original lines and 4 multi currency lines).

- The Absorbing Classes (EUR unit classes) will be listed on the London Stock exchange on the open of business of 23rd June 2017 and will keep the same TIDMs than the former ISINs.