1

Exclusion listROBECO INSTITUTIONAL ASSET MANAGEMENT

MAY 2021 2

Excluded companies:

Controversial behavior1 G4S International Finance PLC2 G4S PLC3 Korea Electric Power Corp4 Oil & Natural Gas Corp Ltd1

5 ONGC Nile Ganga BV6 ONGC Videsh Ltd7 Vale Indonesia Tbk PT8 Vale SA2

Palm oil1 A Brown Co Inc2 Agalawatte Plantations PLC3 Anglo-Eastern Plantations PLC4 Astra Agro Lestari Tbk PT5 Astral Asia Bhd6 Bakrie Sumatera Plantations Tbk PT7 Batu Kawan Bhd8 Benso Oil Palm Plantation Ltd9 BLD Plantation Bhd10 Bukit Darah PLC/The11 CAM Resources BHD12 Carson Cumberbatch PLC13 Cepatwawasan Group BHD14 Chin Teck Plantations BHD15 CI Resources Ltd16 Dekel Agri-Vision PLC17 Eagle High Plantations Tbk PT18 Elpitiya Plantations PLC19 Eterindo Wahanatama Tbk PT20 FAR East Holdings BHD21 Feronia Inc/Canada22 Fima Corp BHD23 First Resources Ltd24 Fitters Diversified Bhd25 Global Palm Resources Holdings Ltd26 Godrej Agrovet Ltd27 Golden Land Bhd28 Gopeng BHD29 Gozco Plantations Tbk PT30 HAGL JSC31 Harn Len Corp Bhd32 IJM Corp Bhd33 IJM Plantations Bhd34 Indofood Agri Resources Ltd35 Indofood Sukses Makmur Tbk PT36 Innoprise Plantations BHD37 IOI Investment L Bhd38 JA Wattie Tbk PT39 Jaya Agra Wattie Tbk PT40 Jaya Tiasa Holdings BHD41 Kencana Agri Ltd42 Kim Loong Resources Bhd43 Kluang Rubber Co Malaya BHD44 Kumpulan Fima BHD45 Kwantas Corp BHD46 Mentiga Corp BHD47 Mewah International Inc48 MHC Plantations Bhd49 MKH Bhd50 Multi Agro Gemilang Plantation Tbk PT51 Namunukula Plantations PLC52 Negri Sembilan Oil Palms BHD53 NPC Resources BHD54 Okomu Oil Palm PLC55 PALMCI SAC56 Perusahaan Perkebunan London Sumatra Indonesia Tbk

PT57 Pinehill Pacific Bhd58 PLS Plantations Bhd59 Presco PLC60 Provident Agro Tbk PT

61 Rimbunan Sawit Bhd62 Riverview Rubber Estates BHD63 Salim Ivomas Pratama Tbk PT64 Sarawak Oil Palms Bhd65 Sarawak Plantation Bhd66 Scope Industries Bhd67 Sin Heng Chan Malaya Bhd68 Sinar Mas Agro Resources & Technology Tbk PT69 Socfin70 Socfinasia SA71 Societe Camerounaise de Palmeraies72 Societe des Caoutchoucs de Grand-Bereby73 SSMS Plantation Holdings Pte Ltd74 Sterling Plantations Ltd75 Subur Tiasa Holdings Bhd76 Sungei Bagan Rubber Co Malaya Bhd77 Sunshine Holdings PLC78 Ta Ann Holdings Bhd79 TBLA International Pte Ltd80 TH Plantations Bhd81 TSH Resources Bhd82 Tunas Baru Lampung Tbk PT83 United International Enterprises Ltd84 United Malacca Bhd85 United Palm Oil Industry PCL86 Vichitbhan Palmoil Pcl87 Watawala Plantation PLC88 Yee Lee Corp Bhd

Controversial weapons1 Aerojet Rocketdyne Holdings Inc2 Anhui Great Wall Military Industry Co Ltd3

3 Aselsan Elektronik Sanayi Ve Ticaret AS4 BAE Systems Finance Inc5 BAE Systems Holdings Inc6 BAE Systems PLC7 Bharat Dynamics Ltd8 China Spacesat Co Ltd9 CSRA Inc10 Dassault Aviation SA11 Gemalto Holding BV12 General Dynamics Corp13 L&T Finance Holdings Ltd14 L&T Technology Services Ltd15 Larsen & Toubro Infotech Ltd16 Larsen & Toubro Ltd17 LIG Nex1 Co Ltd3

18 Mindtree Ltd19 Northrop Grumman Corp20 Northrop Grumman Systems Corp21 Poongsan Corp3

22 Poongsan Holdings Corp23 S&T Dynamics Co Ltd24 S&T Holdings Co Ltd25 Tata Consultancy Services Ltd26 Tata Investment Corp Ltd27 Thales SA28 Walchandnagar Industries Ltd

Tobacco1 22nd Century Group Inc2 Al-Eqbal Investment Co PLC3 Alimentation Couche-Tard Inc4 Altria Group Inc5 AMCON Distributing Co6 AMVIG Holdings Ltd7 Anhui Genuine New Materials Co Ltd8 Aroma Enterprises India Ltd9 Atlan Holdings Bhd10 Badeco Adria JSC Sarajevo11 BAT Capital Corp12 BAT International Finance PLC13 Bentoel Internasional Investama Tbk PT14 Bizim Toptan Satis Magazalari AS

15 Bots Inc16 Bright Packaging Industry Bhd17 Brilliant Circle Holdings International Ltd18 British American Tobacco Bangladesh Co Ltd19 British American Tobacco Chile Operaciones SA20 British American Tobacco Holdings The Netherlands BV21 British American Tobacco Kenya PLC22 British American Tobacco Malaysia Bhd23 British American Tobacco PLC24 British American Tobacco Uganda Ltd25 British American Tobacco Zambia PLC26 British American Tobacco Zimbabwe Holdings Ltd27 Bulgartabac Holding AD28 Carreras Ltd/Jamaica29 Casey’s General Stores Inc30 Cat Loi JSC31 Ceylon Tobacco Co PLC32 Champion Alliance International Holdings Ltd33 Chengdu Hongqi Chain Co Ltd34 China Boton Group Co Ltd35 China Tobacco International HK Co Ltd36 Cia de Distribucion Integral Logista Holdings SA37 Coka Duvanska Industrija AD Coka38 Core-Mark Holding Co Inc39 CTO PCL40 Dino Polska SA41 Dufry AG42 Dufry One BV43 Duvanska Industrija AD Bujanovac44 Eastern Co SAE45 Eurocash SA46 Globrands Ltd47 Godfrey Phillips India Ltd48 Golden Tobacco Ltd49 Gotse Delchev Tabac AD-Gotse Delchev50 Greenlane Holdings Inc51 Guangdong New Grand Long Packing Co Ltd52 Gudang Garam Tbk PT53 Haci Omer Sabanci Holding AS54 Hanjaya Mandala Sampoerna Tbk PT55 Healthier Choices Management Corp56 Hoang Long Group57 Huabao International Holdings Ltd58 Huaxi Holdings Co Ltd59 Imperial Brands Finance PLC60 Imperial Brands PLC61 Indonesian Tobacco Tbk PT62 ITC Ltd63 Japan Tobacco Inc64 Jerusalem Cigarette Co Ltd65 Jia Yao Holdings Ltd66 Jordan Duty Free Shops Co67 JT International Financial Services BV68 Karelia Tobacco Co Inc SA69 Khyber Tobacco Co Ltd70 Kimly Ltd71 KT&G Corp72 Lawson Inc73 LT Group Inc74 McColl’s Retail Group PLC75 Miquel y Costas & Miquel SA76 Mudanjiang Hengfeng Paper Co Ltd77 Ngan Son JSC78 Nikotiana BT Holding AD Sofia79 NTC Industries Ltd80 Old Holdco Inc81 Oxygen SA82 Pakistan Tobacco Co Ltd83 Pazardzhik BTM AD Pazardzhik84 Philip Morris CR AS85 Philip Morris International Inc86 Philip Morris Operations AD Nis87 Philip Morris Pakistan Ltd88 Reinet Investments SCA

Sustainability Inside

1. In line with item 3.G. of the Robeco Exclusion Policy an exception has been granted on product specific grounds to Robeco CGF Indian Equities to not exclude this company.2. In accordance with item 3.G. of the Robeco Exclusion Policy an exception for this company has been granted on product specific grounds in relation to funds and/or mandates subject to the

Robeco Exclusion policy that apply Enhanced Indexing strategies. Funds in scope at the moment of writing are Robeco QI Emerging Markets Enhanced Index Equities and Robeco QI Customized Emerging Markets Enhanced Index Equities. For the funds and mandates in scope of this exception, the strategy will target a maximum underweight position in the company.”

3. In line with art. 21 a ‘Besluit marktmisbruik’ of the Dutch act on Financial Supervision.

MAY 2021 3

89 Renheng Enterprise Holdings Ltd90 Reynolds American Inc91 Scandinavian Tobacco Group A/S92 Seven & i Holdings Co Ltd93 Shaanxi Jinye Science Technology And Education Co Ltd

Group94 Shanghai Industrial Holdings Ltd95 Shenzhen Jinjia Group Co Ltd96 Shenzhen Megmeet Electrical Co Ltd97 Shiner International Inc98 Sila Holding AD99 Sinnar Bidi Udyog Ltd100 Slantse Stara Zagora- BT AD101 Sligro Food Group NV102 Smoore International Holdings Ltd103 Societe Ivoirienne des Tabacs SA104 Sok Marketler Ticaret AS105 Standard Diversified Inc106 Swedish Match AB107 Tanzania Cigarette Co Ltd108 Ten Pao Group Holdings Ltd109 Tian Chang Group Holdings Ltd110 Tien Wah Press Holdings Bhd111 TSL Ltd/Zimbabwe112 Turning Point Brands Inc113 Tutunski Kombinat AD114 Union Investment Corp PLC115 Union Tobacco & Cigarette Industries Co116 Universal Corp/VA117 Valora Holding AG118 Vapor Group Inc119 VaporBrands International Inc120 Vector Group Ltd121 VPR Brands LP122 VST Industries Ltd123 Wee-Cig International Corp124 West Indian Tobacco Co Ltd/The125 Wismilak Inti Makmur Tbk PT126 Yuri Gagarin PLC

Fossil fuels1 ABM Investama Tbk PT2 Aboitiz Equity Ventures Inc3 Aboitiz Power Corp4 Adani Electricity Mumbai Ltd5 Adani Power Ltd6 Adaro Energy Tbk PT7 Adaro Indonesia PT8 AES Gener SA9 AGL Energy Ltd10 Agritrade Resources Ltd11 Alfa Energi Investama Tbk PT12 Alliance Holdings GP LP13 Alliance Resource Operating Partners LP / Alliance

Resource Finance Corp14 Alliance Resource Partners LP15 Ameren Corp16 An Hui Wenergy Co Ltd17 Anhui Hengyuan Coal Industry and Electricity Power Co

Ltd18 Appalachian Power Co19 Arch Resources Inc20 Athabasca Oil Corp21 Atlas Resources Tbk PT22 Banpu PCL23 Banpu Power PCL24 Baramulti Suksessarana Tbk PT25 Bathurst Resources Ltd26 Bayan Resources Tbk PT27 Beijing Haohua Energy Resource Co Ltd28 Bisichi PLC29 Bukit Makmur Mandiri Utama PT30 Bumi Resources Tbk PT31 Canadian Natural Resources Ltd32 Canadian Oil Sands Ltd33 Castle Peak Power Finance Co Ltd34 Cenovus Energy Inc35 CESC Ltd36 China Coal Energy Co Ltd37 China Coal Xinji Energy Co Ltd38 China Huadian Corp Ltd

39 China Huaneng Group Hong Kong Treasury Management Holding Ltd

40 China Power International Development Ltd41 China Qinfa Group Ltd42 China Resources Power Holdings Co Ltd43 China Shenhua Energy Co Ltd44 China Shenhua Overseas Capital Co Ltd45 Chongqing Energy Investment Group Co Ltd46 Chugoku Electric Power Co Inc/The47 Cleco Corporate Holdings LLC48 Cloud Peak Energy Inc49 CLP Holdings Ltd50 CLP Power HK Finance Ltd51 CLP Power Hong Kong Financing Ltd52 Coal India Ltd53 Connacher Oil and Gas Ltd54 CONSOL Coal Resources LP55 CONSOL Energy Inc56 Datang International Power Generation Co Ltd57 Deep Well Oil & Gas Inc58 Delta Dunia Makmur Tbk PT59 Dian Swastatika Sentosa Tbk PT60 DMCI Holdings Inc61 Dominion Energy South Carolina Inc62 DTE Electric Co63 DTEK BV64 DTEK Energy BV65 DTEK Finance PLC66 Duke Energy Indiana LLC67 Electric Power Development Co Ltd68 Elm Road Generating Station Supercritical LLC69 Empresa Electrica Angamos SA70 Empresa Electrica Cochrane SpA71 Empresa Electrica Guacolda SA72 Enea SA73 Engie Energia Chile SA74 EP Energy AS75 Eskom Holdings SOC Ltd76 Eterna Capital Pte Ltd77 Evergy Inc78 Evergy Kansas Central Inc79 Evergy Kansas South Inc80 Evergy Metro Inc81 Exploitasi Energi Indonesia Tbk PT82 Exxaro Resources Ltd83 Foresight Energy LP84 Fujian Funeng Co Ltd85 GCM Resources PLC86 GD Power Development Co Ltd87 Geo Coal International Pte Ltd88 Geo Energy Resources Ltd89 Golden Eagle Energy Tbk PT90 Golden Energy & Resources Ltd91 Great Plains Energy Inc92 Guangdong Baolihua New Energy Stock Co Ltd93 Guangdong Electric Power Development Co Ltd94 Guizhou Panjiang Refined Coal Co Ltd95 Gujarat Industries Power Co Ltd96 Gujarat Mineral Development Corp Ltd97 Gulf Power Co98 Hallador Energy Co99 Harum Energy Tbk PT100 Harvest Operations Corp101 Henan Dayou Energy Co Ltd102 HK Electric Investments & HK Electric Investments Ltd103 Hokkaido Electric Power Co Inc104 Hokuriku Electric Power Co105 Huadian Energy Co Ltd106 Huadian Fuxin Energy Corp Ltd107 Huadian Power International Corp Ltd108 Huaneng Power International Inc109 Hubei Energy Group Co Ltd110 Huolinhe Opencut Coal Industry Corp Ltd of Inner

Mongolia111 Ichor Coal NV112 IE2 Holdco SAU113 Ikwezi Mining Ltd114 Imperial Oil Ltd115 Indiana Michigan Power Co116 Indianapolis Power & Light Co117 Indika Energy Capital III Pte Ltd

118 Indika Energy Capital IV Pte Ltd119 Indika Energy Tbk PT120 Indo Energy Finance II BV121 Indo Tambangraya Megah Tbk PT122 Inner Mongolia MengDian HuaNeng Thermal Power

Corp Ltd123 Inner Mongolia Pingzhuang Energy Co Ltd124 Inner Mongolia Yitai Coal Co Ltd125 Intra Energy Corp Ltd126 IPALCO Enterprises Inc127 Jiangsu Guoxin Corp Ltd128 Jilin Electric Power Co Ltd129 Jinneng Holding Shanxi Coal Industry Co Ltd130 Jinneng Holding Shanxi Electric Power Co Ltd131 Jizhong Energy Resources Co Ltd132 Jointo Energy Investment Co Ltd Hebei133 JSW Energy Ltd134 Kangaroo Resources Ltd135 Kentucky Utilities Co136 Kinetic Mines and Energy Ltd137 Korea East-West Power Co Ltd138 Korea Electric Power Corp139 Korea Midland Power Co Ltd140 Korea South-East Power Co Ltd141 Korea Southern Power Co Ltd142 Korea Western Power Co Ltd143 KSK Energy Ventures Ltd144 Kuzbasskaya Toplivnaya Kompaniya PAO145 KyungDong Invest Co Ltd146 Lanco Infratech Ltd147 Lanna Resources PCL148 LG&E and KU Energy LLC149 LLPL Capital Pte Ltd150 Lubelski Wegiel Bogdanka SA151 Manila Electric Co152 Maxim Power Corp153 MEG Energy Corp154 Minejesa Capital BV155 Mitrabara Adiperdana Tbk PT156 Mongolia Energy Corp Ltd157 Murray Energy Corp158 NACCO Industries Inc159 Nan Nan Resources Enterprise Ltd160 Nava Bharat Ventures Ltd161 New Hope Corp Ltd162 NLC India Ltd163 Nova Scotia Power Inc164 NTPC Ltd165 OPG Power Ventures PLC166 Origin Energy Ltd167 Otter Tail Corp168 PacifiCorp169 Paiton Energy PT170 Pardee Resources Co171 Peabody Energy Corp172 Pengrowth Energy Corp173 Perusahaan Perseroan Persero PT Perusahaan Listrik

Negara174 PGE Gornictwo i Energetyka Konwencjonalna SA175 PGE Polska Grupa Energetyczna SA176 PGE Sweden AB177 Pha Lai Thermal Power JSC178 Pingdingshan Tianan Coal Mining Co Ltd179 PNM Resources Inc180 Public Service Co of New Mexico181 Reliance Power Ltd182 Resource Alam Indonesia Tbk PT183 Resources Prima Group Ltd184 Rhino Resource Partners LP185 Sadovaya Group SA186 SDIC Power Holdings Co Ltd187 Semirara Mining & Power Corp188 Shaanxi Coal Industry Co Ltd189 Shan Xi Hua Yang Group New Energy Co Ltd190 Shanghai Datun Energy Resources Co Ltd191 Shanghai Electric Power Co Ltd192 Shanghai Electric Power Finance Ltd193 Shanxi Lanhua Sci-Tech Venture Co Ltd194 Shanxi Lu’an Environmental Energy Development Co Ltd195 Shenzhen Energy Group Co Ltd196 SMC Global Power Holdings Corp

MAY 2021 4

197 Southstone Minerals Ltd198 Southwestern Electric Power Co199 SPIC 2016 US dollar Bond Co Ltd200 Spic 2018 Usd Senior Perpetual Bond Co Ltd201 SPIC Dongfang New Energy Corp202 Stanmore Coal Ltd203 Strata Power Corp204 Suncor Energy Inc205 Suncor Energy Ventures Corp206 Suncor Energy Ventures Holding Corp207 Sundiro Holding Co Ltd208 Sunshine Oilsands Ltd209 TAQA Morocco SA210 Tata Power Co Ltd/The211 TBS Energi Utama Tbk PT212 Terracom Ltd213 Top Energy Co Ltd Shanxi214 Trada Alam Minera Tbk PT215 TransAlta Corp216 Tucson Electric Power Co217 Union Electric Co218 United Tractors Tbk PT219 Universal Coal PLC220 Viesgo Infraestructuras Energeticas SL221 Vinacomin - Ha Tu Coal JSC222 Vinacomin - Mong Duong Coal JSC223 Vinacomin - Nui Beo Coal JSC224 Vinacomin Cao Son Coal JSC225 Vinacomin Coc Sau Coal JSC226 Vinacomin Deo Nai Coal JSC227 Vinacomin Vang Danh Coal JSC228 Washington H Soul Pattinson & Co Ltd229 Weiqiao Textile Co230 Wescoal Holdings Ltd231 Westmoreland Coal Co232 Westmoreland Resource Partners LP233 White Energy Co Ltd234 Whitehaven Coal Ltd235 Wisconsin Electric Power Co236 Wisconsin Power and Light Co237 Wisconsin Public Service Corp238 Yancoal Australia Ltd239 Yancoal International Resources Development Co Ltd240 Yanzhou Coal Mining Co Ltd241 Zespol Elektrowni Patnow Adamow Konin SA242 Zhejiang Southeast Electric Power Co243 Zhejiang Zheneng Electric Power Co Ltd244 Zhengzhou Coal Industry & Electric Power Co Ltd

Controversial countries1 Afghanistan 2 Burundi 3 Central African Republic 4 Congo, Democratic Republic5 Iran6 Iraq7 Libya8 Mali9 Myanmar10 North Korea11 Somalia12 South Sudan 13 Sudan14 Syria15 Yemen16 Zimbabwe

MAY 2021 5

Excluded companies:

Controversial behavior1 G4S International Finance PLC2 G4S PLC3 Korea Electric Power Corp4 Oil & Natural Gas Corp Ltd1

5 ONGC Nile Ganga BV6 ONGC Videsh Ltd7 Vale Indonesia Tbk PT8 Vale SA2

Palm oil1 Anglo-Eastern Plantations PLC2 Salim Ivomas Pratama Tbk PT3 Sipef NV4 Sampoerna Agro Tbk PT5 United International Enterprises Ltd6 Genting Plantations Bhd7 Batu Kawan Bhd8 IJM Corp Bhd9 Kuala Lumpur Kepong Bhd10 IJM Plantations Bhd11 Bakrie Sumatera Plantations Tbk PT12 First Resources Ltd13 Kencana Agri Ltd14 Indofood Sukses Makmur Tbk PT15 HAGL JSC16 Eagle High Plantations Tbk PT17 Bukit Darah PLC/The18 Perusahaan Perkebunan London Sumatra Indonesia Tbk

PT19 Mewah International Inc20 Astra Agro Lestari Tbk PT21 Ta Ann Holdings Bhd22 Indofood Agri Resources Ltd23 Golden Agri-Resources Ltd24 Wilmar International Ltd25 FGV Holdings Bhd26 IOI Investment L Bhd27 Sarawak Oil Palms Bhd28 TSH Resources Bhd29 Bumitama Agri Ltd30 Sawit Sumbermas Sarana Tbk PT31 Jaya Tiasa Holdings BHD32 MKH Bhd33 Boustead Plantations Bhd34 Kim Loong Resources Bhd35 TH Plantations Bhd36 Rimbunan Sawit Bhd37 Kretam Holdings BHD38 Dharma Satya Nusantara Tbk PT39 Societe des Caoutchoucs de Grand-Bereby40 MP Evans Group PLC41 Tunas Baru Lampung Tbk PT42 Godrej Agrovet Ltd43 SSMS Plantation Holdings Pte Ltd44 United Malacca Bhd45 Benso Oil Palm Plantation Ltd46 TBLA International Pte Ltd47 Societe Camerounaise de Palmeraies48 Socfin49 Socfinaf50 CI Resources Ltd51 Eterindo Wahanatama Tbk PT52 Feronia Inc/Canada53 PALMCI SAC54 REA Holdings PLC55 Provident Agro Tbk PT56 Gozco Plantations Tbk PT57 MHC Plantations Bhd58 Austindo Nusantara Jaya Tbk PT59 Pinehill Pacific Bhd60 FAR East Holdings BHD

61 Socfinasia SA62 Harn Len Corp Bhd63 Kwantas Corp BHD64 BLD Plantation Bhd65 Gopeng BHD66 Dekel Agri-Vision PLC67 Chin Teck Plantations BHD68 Sungei Bagan Rubber Co Malaya Bhd69 A Brown Co Inc70 Sinar Mas Agro Resources & Technology Tbk PT71 United Palm Oil Industry PCL72 Okomu Oil Palm PLC73 Subur Tiasa Holdings Bhd74 Sterling Plantations Ltd75 Fima Corp BHD76 Kluang Rubber Co Malaya BHD77 Mentiga Corp BHD78 Negri Sembilan Oil Palms BHD79 Riverview Rubber Estates BHD80 Sin Heng Chan Malaya Bhd81 Sarawak Plantation Bhd82 Cepatwawasan Group BHD83 PLS Plantations Bhd84 Global Palm Resources Holdings Ltd85 Innoprise Plantations BHD86 Golden Land Bhd87 Kumpulan Fima BHD88 JA Wattie Tbk PT89 Astral Asia Bhd90 Multi Agro Gemilang Plantation Tbk PT91 Vichitbhan Palmoil Pcl92 Elpitiya Plantations PLC93 NPC Resources BHD94 Sunshine Holdings PLC95 Presco PLC96 Namunukula Plantations PLC97 Scope Industries Bhd98 Jaya Agra Wattie Tbk PT99 Fitters Diversified Bhd100 Agalawatte Plantations PLC101 Watawala Plantation PLC102 CAM Resources BHD103 Yee Lee Corp Bhd104 Carson Cumberbatch PLC

Controversial weapons1 Aerojet Rocketdyne Holdings Inc2 Airbus Finance BV3 Airbus SE4 Anhui Great Wall Military Industry Co Ltd3

5 Aselsan Elektronik Sanayi Ve Ticaret AS6 Babcock International Group PLC7 BAE Systems Finance Inc8 BAE Systems Holdings Inc9 BAE Systems PLC10 Bharat Dynamics Ltd11 Boeing Co/The12 Boeing Distribution Services Inc13 BWX Technologies Inc14 China National Nuclear Power Co Ltd15 China Shipbuilding Industry Co Ltd16 China Spacesat Co Ltd17 CNIM Groupe SA18 CSRA Inc19 Dassault Aviation SA20 Ducommun Inc21 Fluor Corp22 Gemalto Holding BV23 General Dynamics Corp24 Honeywell International Inc25 Huntington Ingalls Industries Inc26 Jacobs Engineering Group Inc27 KeyW Holding Corp/The28 L&T Finance Holdings Ltd

29 L&T Technology Services Ltd30 Larsen & Toubro Infotech Ltd31 Larsen & Toubro Ltd32 Leonardo SpA33 Leonardo US Holdings Inc34 LIG Nex1 Co Ltd3

35 Lockheed Martin Corp36 Mindtree Ltd37 Northrop Grumman Corp38 Northrop Grumman Systems Corp39 Poongsan Corp40 Poongsan Holdings Corp3

41 Raytheon Co42 Raytheon Technologies Corp43 S&T Dynamics Co Ltd44 S&T Holdings Co Ltd45 Safran SA46 Serco Group PLC47 Tata Consultancy Services Ltd48 Tata Investment Corp Ltd49 Textron Inc50 Thales SA51 Walchandnagar Industries Ltd

Tobacco1 22nd Century Group Inc2 Al-Eqbal Investment Co PLC3 Alimentation Couche-Tard Inc4 Altria Group Inc5 AMCON Distributing Co6 AMVIG Holdings Ltd7 Anhui Genuine New Materials Co Ltd8 Aroma Enterprises India Ltd9 Atlan Holdings Bhd10 Badeco Adria JSC Sarajevo11 BAT Capital Corp12 BAT International Finance PLC13 Bentoel Internasional Investama Tbk PT14 Bizim Toptan Satis Magazalari AS15 Bots Inc16 Bright Packaging Industry Bhd17 Brilliant Circle Holdings International Ltd18 British American Tobacco Bangladesh Co Ltd19 British American Tobacco Chile Operaciones SA20 British American Tobacco Holdings The Netherlands BV21 British American Tobacco Kenya PLC22 British American Tobacco Malaysia Bhd23 British American Tobacco PLC24 British American Tobacco Uganda Ltd25 British American Tobacco Zambia PLC26 British American Tobacco Zimbabwe Holdings Ltd27 Bulgartabac Holding AD28 Carreras Ltd/Jamaica29 Casey’s General Stores Inc30 Cat Loi JSC31 Ceylon Tobacco Co PLC32 Champion Alliance International Holdings Ltd33 Chengdu Hongqi Chain Co Ltd34 China Boton Group Co Ltd35 China Tobacco International HK Co Ltd36 Cia de Distribucion Integral Logista Holdings SA37 Coka Duvanska Industrija AD Coka38 Core-Mark Holding Co Inc39 CTO PCL40 Dino Polska SA41 Dufry AG42 Dufry One BV43 Duvanska Industrija AD Bujanovac44 Eastern Co SAE45 Eurocash SA46 Globrands Ltd47 Godfrey Phillips India Ltd48 Golden Tobacco Ltd49 Gotse Delchev Tabac AD-Gotse Delchev

Sustainability Focused

1. In line with item 3.G. of the Robeco Exclusion Policy an exception has been granted on product specific grounds to Robeco CGF Indian Equities to not exclude this company.2. In accordance with item 3.G. of the Robeco Exclusion Policy an exception for this company has been granted on product specific grounds in relation to funds and/or mandates subject to the

Robeco Exclusion policy that apply Enhanced Indexing strategies. Funds in scope at the moment of writing are Robeco QI Emerging Markets Enhanced Index Equities and Robeco QI Customized Emerging Markets Enhanced Index Equities. For the funds and mandates in scope of this exception, the strategy will target a maximum underweight position in the company.”

3. In line with art. 21 a ‘Besluit marktmisbruik’ of the Dutch act on Financial Supervision.

MAY 2021 6

50 Greenlane Holdings Inc51 Guangdong New Grand Long Packing Co Ltd52 Gudang Garam Tbk PT53 Haci Omer Sabanci Holding AS54 Hanjaya Mandala Sampoerna Tbk PT55 Healthier Choices Management Corp56 Hoang Long Group57 Huabao International Holdings Ltd58 Huaxi Holdings Co Ltd59 Imperial Brands Finance PLC60 Imperial Brands PLC61 Indonesian Tobacco Tbk PT62 ITC Ltd63 Japan Tobacco Inc64 Jerusalem Cigarette Co Ltd65 Jia Yao Holdings Ltd66 Jordan Duty Free Shops Co67 JT International Financial Services BV68 Karelia Tobacco Co Inc SA69 Khyber Tobacco Co Ltd70 Kimly Ltd71 KT&G Corp72 Lawson Inc73 LT Group Inc74 McColl’s Retail Group PLC75 Miquel y Costas & Miquel SA76 Mudanjiang Hengfeng Paper Co Ltd77 Ngan Son JSC78 Nikotiana BT Holding AD Sofia79 NTC Industries Ltd80 Old Holdco Inc81 Oxygen SA82 Pakistan Tobacco Co Ltd83 Pazardzhik BTM AD Pazardzhik84 Philip Morris CR AS85 Philip Morris International Inc86 Philip Morris Operations AD Nis87 Philip Morris Pakistan Ltd88 Reinet Investments SCA89 Renheng Enterprise Holdings Ltd90 Reynolds American Inc91 Scandinavian Tobacco Group A/S92 Seven & i Holdings Co Ltd93 Shaanxi Jinye Science Technology And Education Co Ltd

Group94 Shanghai Industrial Holdings Ltd95 Shenzhen Jinjia Group Co Ltd96 Shenzhen Megmeet Electrical Co Ltd97 Shiner International Inc98 Sila Holding AD99 Sinnar Bidi Udyog Ltd100 Slantse Stara Zagora- BT AD101 Sligro Food Group NV102 Smoore International Holdings Ltd103 Societe Ivoirienne des Tabacs SA104 Sok Marketler Ticaret AS105 Standard Diversified Inc106 Swedish Match AB107 Tanzania Cigarette Co Ltd108 Ten Pao Group Holdings Ltd109 Tian Chang Group Holdings Ltd110 Tien Wah Press Holdings Bhd111 TSL Ltd/Zimbabwe112 Turning Point Brands Inc113 Tutunski Kombinat AD114 Union Investment Corp PLC115 Union Tobacco & Cigarette Industries Co116 Universal Corp/VA117 Valora Holding AG118 Vapor Group Inc119 VaporBrands International Inc120 Vector Group Ltd121 VPR Brands LP122 VST Industries Ltd123 Wee-Cig International Corp124 West Indian Tobacco Co Ltd/The125 Wismilak Inti Makmur Tbk PT126 Yuri Gagarin PLC

Fossil fuels1 ABM Investama Tbk PT2 Aboitiz Equity Ventures Inc3 Aboitiz Power Corp4 Abu Dhabi National Energy Co PJSC5 Adani Electricity Mumbai Ltd6 Adani Power Ltd7 Adani Transmission Ltd8 Adaro Energy Tbk PT9 Adaro Indonesia PT10 AES Andres Dominicana Ltd11 AES Corp/The12 AES El Salvador Trust II13 AES Gener SA14 African Rainbow Minerals Ltd15 AGL Energy Ltd16 Agritrade Resources Ltd17 Alabama Power Co18 Alarko Holding AS19 Albioma SA20 Alfa Energi Investama Tbk PT21 ALLETE Inc22 Alliance Holdings GP LP23 Alliance Resource Operating Partners LP / Alliance

Resource Finance Corp24 Alliance Resource Partners LP25 Alliant Energy Corp26 Alliant Energy Finance LLC27 AltaLink Investments LP28 AltaLink LP29 Ameren Corp30 American Electric Power Co Inc31 An Hui Wenergy Co Ltd32 Anglo Pacific Group PLC33 Anhui Hengyuan Coal Industry and Electricity Power Co

Ltd34 Appalachian Power Co35 Arch Resources Inc36 Arizona Mining Inc37 Arizona Public Service Co38 Astra International Tbk PT39 Athabasca Oil Corp40 Atlas Resources Tbk PT41 Banpu PCL42 Banpu Power PCL43 Baramulti Suksessarana Tbk PT44 Bathurst Resources Ltd45 Bayan Resources Tbk PT46 Baytex Energy Corp47 Beijing Haohua Energy Resource Co Ltd48 Berkshire Hathaway Energy Co49 Bisichi PLC50 Black Hills Corp51 Bruce Mansfield Unit 1 2007 Pass Through Trust52 Bukit Makmur Mandiri Utama PT53 Bumi Resources Tbk PT54 Canadian Natural Resources Ltd55 Canadian Oil Sands Ltd56 Capital Power Corp57 Castle Peak Power Finance Co Ltd58 Cenovus Energy Inc59 CESC Ltd60 CEZ AS61 CGN New Energy Holdings Co Ltd62 China Coal Energy Co Ltd63 China Coal Xinji Energy Co Ltd64 China Huadian Corp Ltd65 China Huaneng Group Hong Kong Treasury

Management Holding Ltd66 China Longyuan Power Group Corp Ltd67 China Power International Development Ltd68 China Qinfa Group Ltd69 China Resources Power Holdings Co Ltd70 China Shenhua Energy Co Ltd71 China Shenhua Overseas Capital Co Ltd72 Chongqing Energy Investment Group Co Ltd73 Chugoku Electric Power Co Inc/The74 Cikarang Listrindo Tbk PT75 Cleco Corporate Holdings LLC76 Cleco Power LLC77 Cloud Peak Energy Inc

78 CLP Holdings Ltd79 CLP Power HK Finance Ltd80 CLP Power Hong Kong Financing Ltd81 Coal India Ltd82 Colbun SA83 Connacher Oil and Gas Ltd84 CONSOL Coal Resources LP85 CONSOL Energy Inc86 Consumers Energy Co87 ContourGlobal PLC88 ContourGlobal Power Holdings SA89 Contura Energy Inc90 Coronado Global Resources Inc91 Datang International Power Generation Co Ltd92 Dayton Power & Light Co/The93 Deep Well Oil & Gas Inc94 Delta Dunia Makmur Tbk PT95 Dian Swastatika Sentosa Tbk PT96 DMCI Holdings Inc97 Dominion Energy South Carolina Inc98 DPL Inc99 DTE Electric Co100 DTE Energy Co101 DTEK BV102 DTEK Energy BV103 DTEK Finance PLC104 Duke Energy Carolinas LLC105 Duke Energy Corp106 Duke Energy Florida LLC107 Duke Energy Florida Project Finance LLC108 Duke Energy Indiana LLC109 Duke Energy Kentucky Inc110 Duke Energy Progress LLC111 Dynegy Inc112 Electric Power Development Co Ltd113 Electricity Generating PCL114 Elm Road Generating Station Supercritical LLC115 Emera Inc116 Emera US Finance LP117 Empresa Electrica Angamos SA118 Empresa Electrica Cochrane SpA119 Empresa Electrica Guacolda SA120 EnBW Energie Baden-Wuerttemberg AG121 EnBW International Finance BV122 Enea SA123 ENEL RUSSIA PJSC124 Energeticky a Prumyslovy Holding AS125 Eneva SA126 Engie Energia Chile SA127 Entergy Arkansas LLC128 EP Energy AS129 EP Infrastructure AS130 Eskom Holdings SOC Ltd131 Eterna Capital Pte Ltd132 Evergy Inc133 Evergy Kansas Central Inc134 Evergy Kansas South Inc135 Evergy Metro Inc136 Exploitasi Energi Indonesia Tbk PT137 Exxaro Resources Ltd138 Feishang Anthracite Resources Ltd139 Filinvest Development Corp140 Foresight Energy LP141 Fujian Funeng Co Ltd142 Gazprom Neft OAO Via GPN Capital SA143 Gazprom Neft PJSC144 GCM Resources PLC145 GD Power Development Co Ltd146 Genesis Energy Ltd147 Geo Coal International Pte Ltd148 Geo Energy Resources Ltd149 Georgia Power Co150 Glencore PLC151 Glow Energy PCL152 Golden Eagle Energy Tbk PT153 Golden Energy & Resources Ltd154 Great Plains Energy Inc155 Guangdong Baolihua New Energy Stock Co Ltd156 Guangdong Electric Power Development Co Ltd157 Guanghui Energy Co Ltd158 Guangzhou Development Group Inc

MAY 2021 7

159 Guizhou Panjiang Refined Coal Co Ltd160 Gujarat Industries Power Co Ltd161 Gujarat Mineral Development Corp Ltd162 Gulf Power Co163 Hallador Energy Co164 Harum Energy Tbk PT165 Harvest Operations Corp166 Henan Dayou Energy Co Ltd167 Henan Shenhuo Coal & Power Co Ltd168 Hidili Industry International Development Ltd169 HK Electric Investments & HK Electric Investments Ltd170 Hokkaido Electric Power Co Inc171 Hokuriku Electric Power Co172 Huadian Energy Co Ltd173 Huadian Fuxin Energy Corp Ltd174 Huadian Power International Corp Ltd175 Huaneng Power International Inc176 Hubei Energy Group Co Ltd177 Huolinhe Opencut Coal Industry Corp Ltd of Inner

Mongolia178 Husky Energy Inc179 Ichor Coal NV180 IDACORP Inc181 Idaho Power Co182 IE2 Holdco SAU183 Ikwezi Mining Ltd184 Imperial Oil Ltd185 Indiana Michigan Power Co186 Indianapolis Power & Light Co187 Indika Energy Capital III Pte Ltd188 Indika Energy Capital IV Pte Ltd189 Indika Energy Tbk PT190 Indo Energy Finance II BV191 Indo Tambangraya Megah Tbk PT192 Indonesia Asahan Aluminium Persero PT193 Inner Mongolia MengDian HuaNeng Thermal Power

Corp Ltd194 Inner Mongolia Pingzhuang Energy Co Ltd195 Inner Mongolia Yitai Coal Co Ltd196 Interstate Power and Light Co197 Intra Energy Corp Ltd198 IPALCO Enterprises Inc199 Irkutskenergo PJSC200 Israel Electric Corp Ltd201 Japan Petroleum Exploration Co Ltd202 Jardine Cycle & Carriage Ltd203 Jastrzebska Spolka Weglowa SA204 Jiangsu Guoxin Corp Ltd205 Jilin Electric Power Co Ltd206 Jindal Steel & Power Ltd207 Jinneng Holding Shanxi Coal Industry Co Ltd208 Jinneng Holding Shanxi Electric Power Co Ltd209 Jizhong Energy Resources Co Ltd210 Jointo Energy Investment Co Ltd Hebei211 JSW Energy Ltd212 Kangaroo Resources Ltd213 K-Electric Ltd214 Kentucky Utilities Co215 Kern River Funding Corp216 Kinetic Mines and Energy Ltd217 Korea East-West Power Co Ltd218 Korea Electric Power Corp219 Korea Midland Power Co Ltd220 Korea South-East Power Co Ltd221 Korea Southern Power Co Ltd222 Korea Western Power Co Ltd223 KSK Energy Ventures Ltd224 Kuzbasskaya Toplivnaya Kompaniya PAO225 KyungDong Invest Co Ltd226 Kyushu Electric Power Co Inc227 Lanco Infratech Ltd228 Lanna Resources PCL229 LG&E and KU Energy LLC230 Listrindo Capital BV231 LLPL Capital Pte Ltd232 Louisville Gas and Electric Co233 Lubelski Wegiel Bogdanka SA234 Malakoff Corp Bhd235 Manila Electric Co236 Maxim Power Corp237 MC Mining Ltd

238 MEG Energy Corp239 MGE Energy Inc240 MidAmerican Energy Co241 Minejesa Capital BV242 Mitrabara Adiperdana Tbk PT243 Mong Duong Finance Holdings BV244 Mongolia Energy Corp Ltd245 Murray Energy Corp246 NACCO Industries Inc247 Nan Nan Resources Enterprise Ltd248 Natural Resource Partners LP249 Nava Bharat Ventures Ltd250 New Hope Corp Ltd251 NiSource Inc252 NLC India Ltd253 Northern Electric Finance PLC254 Northern Electric PLC255 Northern Natural Gas Co256 Northern Powergrid Holdings Co257 Northern Powergrid Yorkshire PLC258 Northern States Power Co/MN259 NorthWestern Corp260 Nova Scotia Power Inc261 NRG Energy Inc262 NTPC Ltd263 NV Energy Inc264 Obsidian Energy Ltd265 OGE Energy Corp266 OGK-2 PJSC267 Okinawa Electric Power Co Inc/The268 Oklahoma Gas and Electric Co269 OPG Power Ventures PLC270 Origin Energy Ltd271 Otter Tail Corp272 PacifiCorp273 Paiton Energy PT274 Pardee Resources Co275 Peabody Energy Corp276 Pengrowth Energy Corp277 Perusahaan Perseroan Persero PT Perusahaan Listrik

Negara278 PGE Gornictwo i Energetyka Konwencjonalna SA279 PGE Polska Grupa Energetyczna SA280 PGE Sweden AB281 Pha Lai Thermal Power JSC282 Piedmont Natural Gas Co Inc283 Pingdingshan Tianan Coal Mining Co Ltd284 Pinnacle West Capital Corp285 PNM Resources Inc286 Portland General Electric Co287 PPL Capital Funding Inc288 PPL Corp289 PPL WEM Ltd / Western Power Distribution PLC290 Public Power Corp SA291 Public Service Co of Colorado292 Public Service Co of New Mexico293 Public Service Co of Oklahoma294 Raging River Exploration Inc295 Ratch Group PCL296 Reliance Power Ltd297 Resource Alam Indonesia Tbk PT298 Resources Prima Group Ltd299 RGS AEGCO Funding Corp300 RGS I&M Funding Corp301 Rhino Resource Partners LP302 Rosan Resources Holdings Ltd303 RusHydro PJSC304 RWE AG305 Sadovaya Group SA306 SDIC Power Holdings Co Ltd307 Sembcorp Industries Ltd308 Semirara Mining & Power Corp309 Shaanxi Coal Industry Co Ltd310 Shan Xi Hua Yang Group New Energy Co Ltd311 Shanghai Datun Energy Resources Co Ltd312 Shanghai Electric Power Co Ltd313 Shanghai Electric Power Finance Ltd314 Shanxi Coking Coal Energy Group Co Ltd315 Shanxi Lanhua Sci-Tech Venture Co Ltd316 Shanxi Lu’an Environmental Energy Development Co Ltd317 Shenergy Co Ltd

318 Shenzhen Energy Group Co Ltd319 Shikoku Electric Power Co Inc320 Sierra Pacific Power Co321 SMC Global Power Holdings Corp322 South32 Ltd323 Southern Co Gas Capital Corp324 Southern Co/The325 Southern Power Co326 Southstone Minerals Ltd327 Southwestern Electric Power Co328 Southwestern Public Service Co329 SPIC 2016 US dollar Bond Co Ltd330 Spic 2018 Usd Senior Perpetual Bond Co Ltd331 SPIC Dongfang New Energy Corp332 Stanmore Coal Ltd333 Strata Power Corp334 Suncor Energy Inc335 Suncor Energy Ventures Corp336 Suncor Energy Ventures Holding Corp337 Sundiro Holding Co Ltd338 Sunshine Oilsands Ltd339 Taiwan Cement Corp340 Talen Energy Corp341 TAQA Morocco SA342 Tata Power Co Ltd/The343 Tauron Polska Energia SA344 TBS Energi Utama Tbk PT345 TCC International Holdings Ltd346 TECO Energy Inc347 Tenaga Nasional Bhd348 Terra Mauricia Ltd349 Terracom Ltd350 Texas Competitive Electric Holdings Co LLC / TCEH

Finance Inc351 TNB Global Ventures Capital Bhd352 Tohoku Electric Power Co Inc353 Top Energy Co Ltd Shanxi354 TPI Polene Power PCL355 Trada Alam Minera Tbk PT356 TransAlta Corp357 Transelectrica SA358 Tri-State Generation and Transmission Association Inc359 Tucson Electric Power Co360 Unicorn Capital Partners Ltd361 Union Electric Co362 Unipro PJSC363 United Tractors Tbk PT364 Universal Coal PLC365 Viesgo Infraestructuras Energeticas SL366 Vinacomin - Ha Tu Coal JSC367 Vinacomin - Mong Duong Coal JSC368 Vinacomin - Nui Beo Coal JSC369 Vinacomin Cao Son Coal JSC370 Vinacomin Coc Sau Coal JSC371 Vinacomin Deo Nai Coal JSC372 Vinacomin Vang Danh Coal JSC373 Vistra Corp374 Vistra Operations Co LLC375 Washington H Soul Pattinson & Co Ltd376 WEC Energy Group Inc377 Weiqiao Textile Co378 Wescoal Holdings Ltd379 Westmoreland Coal Co380 Westmoreland Resource Partners LP381 White Energy Co Ltd382 Whitehaven Coal Ltd383 Wintime Energy Co Ltd384 Wisconsin Electric Power Co385 Wisconsin Power and Light Co386 Wisconsin Public Service Corp387 Xcel Energy Inc388 Yancoal Australia Ltd389 Yancoal International Resources Development Co Ltd390 Yanzhou Coal Mining Co Ltd391 Yorkshire Power Finance Ltd392 Zespol Elektrowni Patnow Adamow Konin SA393 Zhejiang Southeast Electric Power Co394 Zhejiang Zheneng Electric Power Co Ltd395 Zhengzhou Coal Industry & Electric Power Co Ltd

MAY 2021 8

Controversial countries1 Afghanistan 2 Burundi 3 Central African Republic 4 Congo, Democratic Republic5 Iran6 Iraq7 Libya8 Mali9 Myanmar10 North Korea11 Somalia12 South Sudan 13 Sudan14 Syria15 Yemen16 Zimbabwe

Miltary contracting1 AAR Corp2 Abu Dhabi Ship Building Co PJSC3 Adani Enterprises Ltd4 Aerojet Rocketdyne Holdings Inc5 Aeronautics Ltd6 Aerospace Industrial Development Corp7 Aerostar SA Bacau8 AeroVironment Inc9 Airbus Finance BV10 Airbus SE11 Albany International Corp12 Allied Motion Technologies Inc13 Allison Transmission Holdings Inc14 Allison Transmission Inc15 AMETEK Inc16 Amphenol Corp17 Amphenol Technologies Holding GmbH18 Anhui Great Wall Military Industry Co Ltd19 Arotech Corp20 Aryt Industries Ltd21 Aselsan Elektronik Sanayi Ve Ticaret AS22 Ashot -Ashkelon Industries Ltd23 Astra Microwave Products Ltd24 Astronics Corp25 Austal Ltd26 AVIC Electromechanical Systems Co Ltd27 AVIC International Finance & Investment Ltd28 AviChina Industry & Technology Co Ltd29 Babcock International Group PLC30 BAE Systems Finance Inc31 BAE Systems Holdings Inc32 BAE Systems PLC33 Benchmark Electronics Inc34 Bharat Dynamics Ltd35 Bharat Electronics Ltd36 Bodycote PLC37 Boeing Co/The38 Boustead Heavy Industries Corp Bhd39 BWX Technologies Inc40 Carpenter Technology Corp41 Changsha Jingjia Microelectronics Co Ltd42 Chemring Group PLC43 China Aerospace Times Electronics Co Ltd44 China Shipbuilding Industry Co Ltd45 CIRCOR International Inc46 Cobham Ltd47 Cochin Shipyard Ltd48 Cohort PLC49 Crane Co50 CSBC Corp Taiwan51 CSRA Inc52 CSSC Capital 2015 Ltd53 Cssc Capital Two Ltd54 Cubic Corp55 Curtiss-Wright Corp56 Dassault Aviation SA57 Destini Bhd58 Ducommun Inc59 Eaton Capital Unlimited Co60 Eaton Corp61 Eaton Corp PLC62 ECA

63 Elbit Systems Ltd64 Electro Optic Systems Holdings Ltd65 Embraer Netherlands Finance BV66 Embraer Overseas Ltd67 Embraer SA68 EMKOREA Co Ltd69 ESCO Technologies Inc70 Esterline Technologies Corp71 Fincantieri SpA72 Firstec Co Ltd73 FLIR Systems Inc74 Fluor Corp75 Fujian Torch Electron Technology Co Ltd76 Garden Reach Shipbuilders & Engineers Ltd77 Gemalto Holding BV78 General Dynamics Corp79 GKN Holdings Ltd80 GKN Ltd81 Global Brass and Copper Holdings Inc82 Griffon Corp83 Groupe Gorge SA84 H&K AG85 Hanil Forging Industrial Co Ltd86 Hanwha Aerospace Co Ltd87 Hanwha Corp88 Hanwha Systems Co Ltd89 HEICO Corp90 Heroux-Devtek Inc91 Hindustan Aeronautics Ltd92 Honeywell International Inc93 Howmet Aerospace Inc94 Huneed Technologies95 Huntington Ingalls Industries Inc96 Hyundai Rotem Co Ltd97 Hyundai Wia Corp98 Iar SA Brasov99 IHI Corp100 Indra Sistemas SA101 Inner Mongolia First Machinery Group Co Ltd102 Intevac Inc103 Irkut Corp PJSC104 Jacobs Engineering Group Inc105 Jenoptik AG106 Jiangxi Hongdu Aviation Industry Co Ltd107 Kaman Corp108 Kawasaki Heavy Industries Ltd109 KeyW Holding Corp/The110 Kitron ASA111 Kongsberg Gruppen ASA112 Korea Aerospace Industries Ltd113 Kratos Defense & Security Solutions Inc114 KVH Industries Inc115 L3 Technologies Inc116 L3Harris Technologies Inc117 Leonardo SpA118 Leonardo US Holdings Inc119 LIG Nex1 Co Ltd120 Lockheed Martin Corp121 Lumibird122 Magellan Aerospace Corp123 ManTech International Corp/VA124 Materion Corp125 Meggitt PLC126 Melrose Industries PLC127 Mercury Systems Inc128 Mikros Systems Corp129 Mitsubishi Heavy Industries Ltd130 Moog Inc131 MS INTERNATIONAL PLC132 MTU Aero Engines AG133 National Presto Industries Inc134 North Industries Group Red Arrow Co Ltd135 Northrop Grumman Corp136 Northrop Grumman Systems Corp137 Oceaneering International Inc138 Optex Systems Holdings Inc139 Orbit International Corp140 Orbit Technologies Ltd141 Oshkosh Corp142 Otokar Otomotiv Ve Savunma Sanayi A.S.143 PAE Inc

144 Perspecta Inc145 Petards Group PLC146 Plexus Corp147 Poongsan Corp148 Premier Explosives Ltd149 Pressure Technologies PLC150 QinetiQ Group PLC151 RADA Electronic Industries Ltd152 Raytheon Co153 Raytheon Technologies Corp154 RBC Bearings Inc155 Reliance Naval & Engineering Ltd156 Renk AG157 Reunert Ltd158 Rheinmetall AG159 Rikei Corp160 Rolls-Royce Holdings PLC161 Rolls-Royce PLC162 RSL Electronics Ltd163 S&T Dynamics Co Ltd164 S&T Motiv Co Ltd165 SA Belge de Constructions Aeronautiques166 Saab AB167 Safran SA168 Sanmina Corp169 Science Applications International Corp170 Senior PLC171 Serco Group PLC172 Singapore Technologies Engineering Ltd173 Spirit AeroSystems Inc174 St Engineering Rhq Ltd175 STX Engine Co Ltd176 Taurus Armas SA177 Tellhow Sci-Tech Co Ltd178 Tetra Tech Inc179 Textron Inc180 Thales SA181 Timken India Ltd182 TransDigm Group Inc183 TransDigm Inc184 TTM Technologies Inc185 Tupolev PJSC186 Ultra Electronics Holdings PLC187 Ultralife Corp188 Umbra Applied Technologies Group Inc189 United Aircraft Corp PJSC190 ViaSat Inc191 Vista Outdoor Inc192 Vitzrocell Co Ltd193 VSE Corp194 Walchandnagar Industries Ltd195 Woodward Inc196 Xi’an Tian He Defense Technology Co Ltd197 XTEK Ltd198 ZheJiang Dali Technology Co Ltd

Fire arms1 Asahi-Seiki Manufacturing Co Ltd2 BAE Systems Finance Inc3 BAE Systems Holdings Inc4 BAE Systems PLC5 Clarus Corp6 CSRA Inc7 Gemalto Holding BV8 General Dynamics Corp9 H&K AG10 Howa Machinery Ltd11 Miroku Corp12 NOF Corp13 Northrop Grumman Corp14 Northrop Grumman Systems Corp15 Olin Corp16 Rheinmetall AG17 S&T Dynamics Co Ltd18 S&T Motiv Co Ltd19 Singapore Technologies Engineering Ltd20 Smith & Wesson Brands Inc21 Sportsman’s Warehouse Holdings Inc22 St Engineering Rhq Ltd23 Sturm Ruger & Co Inc24 Taurus Armas SA

MAY 2021 9

25 Thales SA26 Umbra Applied Technologies Group Inc27 Verney-Carron SA28 Vista Outdoor Inc29 XTEK Ltd

Nuclear Power1 Arizona Public Service Co2 Bruce Power LP3 Castle Peak Power Finance Co Ltd4 CGN Power Co Ltd5 CGNPC International Ltd6 China Clean Energy Development Ltd7 China National Nuclear Power Co Ltd8 CLP Holdings Ltd9 CLP Power HK Finance Ltd10 CLP Power Hong Kong Financing Ltd11 Duke Energy Carolinas LLC12 Duke Energy Progress LLC13 El Paso Electric Co14 Electricite de France SA15 Entergy Arkansas LLC16 Exelon Corp17 Exelon Generation Co LLC18 Fair Hydro Trust19 Indiana Michigan Power Co20 Korea Hydro & Nuclear Power Co Ltd21 Kyushu Electric Power Co Inc22 Lower Mattagami Energy LP23 Oglethorpe Power Corp24 Ontario Power Generation Inc25 Pacific Gas and Electric Co26 PG&E Corp27 Public Service Co of New Mexico28 Societatea Nationala Nuclearelectrica SA29 Teollisuuden Voima Oyj30 UMH Energy Partnership

MAY 2021 10

Excluded companies:

Controversial behavior1 G4S International Finance PLC2 G4S PLC3 Korea Electric Power Corp4 Oil & Natural Gas Corp Ltd1

5 ONGC Nile Ganga BV6 ONGC Videsh Ltd7 Vale Indonesia Tbk PT8 Vale SA2

Palm oil1 Anglo-Eastern Plantations PLC2 Salim Ivomas Pratama Tbk PT3 Sipef NV4 Sampoerna Agro Tbk PT5 United International Enterprises Ltd6 Genting Plantations Bhd7 Batu Kawan Bhd8 IJM Corp Bhd9 Kuala Lumpur Kepong Bhd10 IJM Plantations Bhd11 Bakrie Sumatera Plantations Tbk PT12 First Resources Ltd13 Kencana Agri Ltd14 Indofood Sukses Makmur Tbk PT15 HAGL JSC16 Eagle High Plantations Tbk PT17 Bukit Darah PLC/The18 Perusahaan Perkebunan London Sumatra Indonesia Tbk

PT19 Mewah International Inc20 Astra Agro Lestari Tbk PT21 Ta Ann Holdings Bhd22 Indofood Agri Resources Ltd23 Golden Agri-Resources Ltd24 Wilmar International Ltd25 FGV Holdings Bhd26 IOI Investment L Bhd27 Sarawak Oil Palms Bhd28 TSH Resources Bhd29 Bumitama Agri Ltd30 Sawit Sumbermas Sarana Tbk PT31 Jaya Tiasa Holdings BHD32 MKH Bhd33 Boustead Plantations Bhd34 Kim Loong Resources Bhd35 TH Plantations Bhd36 Rimbunan Sawit Bhd37 Kretam Holdings BHD38 Dharma Satya Nusantara Tbk PT39 Societe des Caoutchoucs de Grand-Bereby40 MP Evans Group PLC41 Tunas Baru Lampung Tbk PT42 Godrej Agrovet Ltd43 SSMS Plantation Holdings Pte Ltd44 United Malacca Bhd45 Benso Oil Palm Plantation Ltd46 TBLA International Pte Ltd47 Societe Camerounaise de Palmeraies48 Socfin49 Socfinaf50 CI Resources Ltd51 Eterindo Wahanatama Tbk PT52 Feronia Inc/Canada53 PALMCI SAC54 REA Holdings PLC55 Provident Agro Tbk PT56 Gozco Plantations Tbk PT57 MHC Plantations Bhd58 Austindo Nusantara Jaya Tbk PT59 Pinehill Pacific Bhd60 FAR East Holdings BHD

61 Socfinasia SA62 Harn Len Corp Bhd63 Kwantas Corp BHD64 BLD Plantation Bhd65 Gopeng BHD66 Dekel Agri-Vision PLC67 Chin Teck Plantations BHD68 Sungei Bagan Rubber Co Malaya Bhd69 A Brown Co Inc70 Sinar Mas Agro Resources & Technology Tbk PT71 United Palm Oil Industry PCL72 Okomu Oil Palm PLC73 Subur Tiasa Holdings Bhd74 Sterling Plantations Ltd75 Fima Corp BHD76 Kluang Rubber Co Malaya BHD77 Mentiga Corp BHD78 Negri Sembilan Oil Palms BHD79 Riverview Rubber Estates BHD80 Sin Heng Chan Malaya Bhd81 Sarawak Plantation Bhd82 Cepatwawasan Group BHD83 PLS Plantations Bhd84 Global Palm Resources Holdings Ltd85 Innoprise Plantations BHD86 Golden Land Bhd87 Kumpulan Fima BHD88 JA Wattie Tbk PT89 Astral Asia Bhd90 Multi Agro Gemilang Plantation Tbk PT91 Vichitbhan Palmoil Pcl92 Elpitiya Plantations PLC93 NPC Resources BHD94 Sunshine Holdings PLC95 Presco PLC96 Namunukula Plantations PLC97 Scope Industries Bhd98 Jaya Agra Wattie Tbk PT99 Fitters Diversified Bhd100 Agalawatte Plantations PLC101 Watawala Plantation PLC102 CAM Resources BHD103 Yee Lee Corp Bhd

Controversial weapons1 Aerojet Rocketdyne Holdings Inc2 Airbus Finance BV3 Airbus SE4 Anhui Great Wall Military Industry Co Ltd3

5 Aselsan Elektronik Sanayi Ve Ticaret AS6 Babcock International Group PLC7 BAE Systems Finance Inc8 BAE Systems Holdings Inc9 BAE Systems PLC10 Bharat Dynamics Ltd11 Boeing Co/The12 Boeing Distribution Services Inc13 BWX Technologies Inc14 China National Nuclear Power Co Ltd15 China Shipbuilding Industry Co Ltd16 China Spacesat Co Ltd17 CNIM Groupe SA18 CSRA Inc19 Dassault Aviation SA20 Ducommun Inc21 Fluor Corp22 Gemalto Holding BV23 General Dynamics Corp24 Honeywell International Inc25 Huntington Ingalls Industries Inc26 Jacobs Engineering Group Inc27 KeyW Holding Corp/The28 L&T Finance Holdings Ltd29 L&T Technology Services Ltd

30 Larsen & Toubro Infotech Ltd31 Larsen & Toubro Ltd32 Leonardo SpA33 Leonardo US Holdings Inc34 LIG Nex1 Co Ltd3

35 Lockheed Martin Corp36 Mindtree Ltd37 Northrop Grumman Corp38 Northrop Grumman Systems Corp39 Poongsan Corp3

40 Poongsan Holdings Corp41 Raytheon Co42 Raytheon Technologies Corp43 S&T Dynamics Co Ltd44 S&T Holdings Co Ltd45 Safran SA46 Serco Group PLC47 Tata Consultancy Services Ltd48 Tata Investment Corp Ltd49 Textron Inc50 Thales SA51 Walchandnagar Industries Ltd

Tobacco1 22nd Century Group Inc2 Al-Eqbal Investment Co PLC3 Alimentation Couche-Tard Inc4 Altria Group Inc5 AMCON Distributing Co6 AMVIG Holdings Ltd7 Anhui Genuine New Materials Co Ltd8 Aroma Enterprises India Ltd9 Atlan Holdings Bhd10 Badeco Adria JSC Sarajevo11 BAT Capital Corp12 BAT International Finance PLC13 Bentoel Internasional Investama Tbk PT14 Bizim Toptan Satis Magazalari AS15 Bots Inc16 Bright Packaging Industry Bhd17 Brilliant Circle Holdings International Ltd18 British American Tobacco Bangladesh Co Ltd19 British American Tobacco Chile Operaciones SA20 British American Tobacco Holdings The Netherlands BV21 British American Tobacco Kenya PLC22 British American Tobacco Malaysia Bhd23 British American Tobacco PLC24 British American Tobacco Uganda Ltd25 British American Tobacco Zambia PLC26 British American Tobacco Zimbabwe Holdings Ltd27 Bulgartabac Holding AD28 Carreras Ltd/Jamaica29 Casey’s General Stores Inc30 Cat Loi JSC31 Ceylon Tobacco Co PLC32 Champion Alliance International Holdings Ltd33 Chengdu Hongqi Chain Co Ltd34 China Boton Group Co Ltd35 China Tobacco International HK Co Ltd36 Cia de Distribucion Integral Logista Holdings SA37 Coka Duvanska Industrija AD Coka38 Core-Mark Holding Co Inc39 CTO PCL40 Dino Polska SA41 Dufry AG42 Dufry One BV43 Duvanska Industrija AD Bujanovac44 Eastern Co SAE45 Eurocash SA46 Globrands Ltd47 Godfrey Phillips India Ltd48 Golden Tobacco Ltd49 Gotse Delchev Tabac AD-Gotse Delchev50 Greenlane Holdings Inc

Impact Investing

1. In line with item 3.G. of the Robeco Exclusion Policy an exception has been granted on product specific grounds to Robeco CGF Indian Equities to not exclude this company.2. In accordance with item 3.G. of the Robeco Exclusion Policy an exception for this company has been granted on product specific grounds in relation to funds and/or mandates subject to the

Robeco Exclusion policy that apply Enhanced Indexing strategies. Funds in scope at the moment of writing are Robeco QI Emerging Markets Enhanced Index Equities and Robeco QI Customized Emerging Markets Enhanced Index Equities. For the funds and mandates in scope of this exception, the strategy will target a maximum underweight position in the company.”

3. In line with art. 21 a ‘Besluit marktmisbruik’ of the Dutch act on Financial Supervision.

MAY 2021 11

51 Guangdong New Grand Long Packing Co Ltd52 Gudang Garam Tbk PT53 Haci Omer Sabanci Holding AS54 Hanjaya Mandala Sampoerna Tbk PT55 Healthier Choices Management Corp56 Hoang Long Group57 Huabao International Holdings Ltd58 Huaxi Holdings Co Ltd59 Imperial Brands Finance PLC60 Imperial Brands PLC61 Indonesian Tobacco Tbk PT62 ITC Ltd63 Japan Tobacco Inc64 Jerusalem Cigarette Co Ltd65 Jia Yao Holdings Ltd66 Jordan Duty Free Shops Co67 JT International Financial Services BV68 Karelia Tobacco Co Inc SA69 Khyber Tobacco Co Ltd70 Kimly Ltd71 KT&G Corp72 Lawson Inc73 LT Group Inc74 McColl’s Retail Group PLC75 Miquel y Costas & Miquel SA76 Mudanjiang Hengfeng Paper Co Ltd77 Ngan Son JSC78 Nikotiana BT Holding AD Sofia79 NTC Industries Ltd80 Old Holdco Inc81 Oxygen SA82 Pakistan Tobacco Co Ltd83 Pazardzhik BTM AD Pazardzhik84 Philip Morris CR AS85 Philip Morris International Inc86 Philip Morris Operations AD Nis87 Philip Morris Pakistan Ltd88 Reinet Investments SCA89 Renheng Enterprise Holdings Ltd90 Reynolds American Inc91 Scandinavian Tobacco Group A/S92 Seven & i Holdings Co Ltd93 Shaanxi Jinye Science Technology And Education Co Ltd

Group94 Shanghai Industrial Holdings Ltd95 Shenzhen Jinjia Group Co Ltd96 Shenzhen Megmeet Electrical Co Ltd97 Shiner International Inc98 Sila Holding AD99 Sinnar Bidi Udyog Ltd100 Slantse Stara Zagora- BT AD101 Sligro Food Group NV102 Smoore International Holdings Ltd103 Societe Ivoirienne des Tabacs SA104 Sok Marketler Ticaret AS105 Standard Diversified Inc106 Swedish Match AB107 Tanzania Cigarette Co Ltd108 Ten Pao Group Holdings Ltd109 Tian Chang Group Holdings Ltd110 Tien Wah Press Holdings Bhd111 TSL Ltd/Zimbabwe112 Turning Point Brands Inc113 Tutunski Kombinat AD114 Union Investment Corp PLC115 Union Tobacco & Cigarette Industries Co116 Universal Corp/VA117 Valora Holding AG118 Vapor Group Inc119 VaporBrands International Inc120 Vector Group Ltd121 VPR Brands LP122 VST Industries Ltd123 Wee-Cig International Corp124 West Indian Tobacco Co Ltd/The125 Wismilak Inti Makmur Tbk PT126 Yuri Gagarin PLC

Fossil fuels1 ABM Investama Tbk PT2 Aboitiz Equity Ventures Inc

3 Aboitiz Power Corp4 Abu Dhabi National Energy Co PJSC5 Adani Electricity Mumbai Ltd6 Adani Power Ltd7 Adani Transmission Ltd8 Adaro Energy Tbk PT9 Adaro Indonesia PT10 AES Andres Dominicana Ltd11 AES Corp/The12 AES El Salvador Trust II13 AES Gener SA14 African Rainbow Minerals Ltd15 AGL Energy Ltd16 Agritrade Resources Ltd17 Alabama Power Co18 Alarko Holding AS19 Albioma SA20 Alfa Energi Investama Tbk PT21 ALLETE Inc22 Alliance Holdings GP LP23 Alliance Resource Operating Partners LP / Alliance

Resource Finance Corp24 Alliance Resource Partners LP25 Alliant Energy Corp26 Alliant Energy Finance LLC27 AltaLink Investments LP28 AltaLink LP29 Ameren Corp30 American Electric Power Co Inc31 An Hui Wenergy Co Ltd32 Anglo Pacific Group PLC33 Anhui Hengyuan Coal Industry and Electricity Power Co

Ltd34 Appalachian Power Co35 Arch Resources Inc36 Arizona Mining Inc37 Arizona Public Service Co38 Astra International Tbk PT39 Athabasca Oil Corp40 Atlas Resources Tbk PT41 Banpu PCL42 Banpu Power PCL43 Baramulti Suksessarana Tbk PT44 Bathurst Resources Ltd45 Bayan Resources Tbk PT46 Baytex Energy Corp47 Beijing Haohua Energy Resource Co Ltd48 Berkshire Hathaway Energy Co49 Bisichi PLC50 Black Hills Corp51 Bruce Mansfield Unit 1 2007 Pass Through Trust52 Bukit Makmur Mandiri Utama PT53 Bumi Resources Tbk PT54 Canadian Natural Resources Ltd55 Canadian Oil Sands Ltd56 Capital Power Corp57 Castle Peak Power Finance Co Ltd58 Cenovus Energy Inc59 CESC Ltd60 CEZ AS61 CGN New Energy Holdings Co Ltd62 China Coal Energy Co Ltd63 China Coal Xinji Energy Co Ltd64 China Huadian Corp Ltd65 China Huaneng Group Hong Kong Treasury

Management Holding Ltd66 China Longyuan Power Group Corp Ltd67 China Power International Development Ltd68 China Qinfa Group Ltd69 China Resources Power Holdings Co Ltd70 China Shenhua Energy Co Ltd71 China Shenhua Overseas Capital Co Ltd72 Chongqing Energy Investment Group Co Ltd73 Chugoku Electric Power Co Inc/The74 Cikarang Listrindo Tbk PT75 Cleco Corporate Holdings LLC76 Cleco Power LLC77 Cloud Peak Energy Inc78 CLP Holdings Ltd79 CLP Power HK Finance Ltd80 CLP Power Hong Kong Financing Ltd

81 Coal India Ltd82 Colbun SA83 Connacher Oil and Gas Ltd84 CONSOL Coal Resources LP85 CONSOL Energy Inc86 Consumers Energy Co87 ContourGlobal PLC88 ContourGlobal Power Holdings SA89 Contura Energy Inc90 Coronado Global Resources Inc91 Datang International Power Generation Co Ltd92 Dayton Power & Light Co/The93 Deep Well Oil & Gas Inc94 Delta Dunia Makmur Tbk PT95 Dian Swastatika Sentosa Tbk PT96 DMCI Holdings Inc97 Dominion Energy South Carolina Inc98 DPL Inc99 DTE Electric Co100 DTE Energy Co101 DTEK BV102 DTEK Energy BV103 DTEK Finance PLC104 Duke Energy Carolinas LLC105 Duke Energy Corp106 Duke Energy Florida LLC107 Duke Energy Florida Project Finance LLC108 Duke Energy Indiana LLC109 Duke Energy Kentucky Inc110 Duke Energy Progress LLC111 Dynegy Inc112 Electric Power Development Co Ltd113 Electricity Generating PCL114 Elm Road Generating Station Supercritical LLC115 Emera Inc116 Emera US Finance LP117 Empresa Electrica Angamos SA118 Empresa Electrica Cochrane SpA119 Empresa Electrica Guacolda SA120 EnBW Energie Baden-Wuerttemberg AG121 EnBW International Finance BV122 Enea SA123 ENEL RUSSIA PJSC124 Energeticky a Prumyslovy Holding AS125 Eneva SA126 Engie Energia Chile SA127 Entergy Arkansas LLC128 EP Energy AS129 EP Infrastructure AS130 Eskom Holdings SOC Ltd131 Eterna Capital Pte Ltd132 Evergy Inc133 Evergy Kansas Central Inc134 Evergy Kansas South Inc135 Evergy Metro Inc136 Exploitasi Energi Indonesia Tbk PT137 Exxaro Resources Ltd138 Feishang Anthracite Resources Ltd139 Filinvest Development Corp140 Foresight Energy LP141 Fujian Funeng Co Ltd142 Gazprom Neft OAO Via GPN Capital SA143 Gazprom Neft PJSC144 GCM Resources PLC145 GD Power Development Co Ltd146 Genesis Energy Ltd147 Geo Coal International Pte Ltd148 Geo Energy Resources Ltd149 Georgia Power Co150 Glencore PLC151 Glow Energy PCL152 Golden Eagle Energy Tbk PT153 Golden Energy & Resources Ltd154 Great Plains Energy Inc155 Guangdong Baolihua New Energy Stock Co Ltd156 Guangdong Electric Power Development Co Ltd157 Guanghui Energy Co Ltd158 Guangzhou Development Group Inc159 Guizhou Panjiang Refined Coal Co Ltd160 Gujarat Industries Power Co Ltd161 Gujarat Mineral Development Corp Ltd

MAY 2021 12

162 Gulf Power Co163 Hallador Energy Co164 Harum Energy Tbk PT165 Harvest Operations Corp166 Henan Dayou Energy Co Ltd167 Henan Shenhuo Coal & Power Co Ltd168 Hidili Industry International Development Ltd169 HK Electric Investments & HK Electric Investments Ltd170 Hokkaido Electric Power Co Inc171 Hokuriku Electric Power Co172 Huadian Energy Co Ltd173 Huadian Fuxin Energy Corp Ltd174 Huadian Power International Corp Ltd175 Huaneng Power International Inc176 Hubei Energy Group Co Ltd177 Huolinhe Opencut Coal Industry Corp Ltd of Inner

Mongolia178 Husky Energy Inc179 Ichor Coal NV180 IDACORP Inc181 Idaho Power Co182 IE2 Holdco SAU183 Ikwezi Mining Ltd184 Imperial Oil Ltd185 Indiana Michigan Power Co186 Indianapolis Power & Light Co187 Indika Energy Capital III Pte Ltd188 Indika Energy Capital IV Pte Ltd189 Indika Energy Tbk PT190 Indo Energy Finance II BV191 Indo Tambangraya Megah Tbk PT192 Indonesia Asahan Aluminium Persero PT193 Inner Mongolia MengDian HuaNeng Thermal Power

Corp Ltd194 Inner Mongolia Pingzhuang Energy Co Ltd195 Inner Mongolia Yitai Coal Co Ltd196 Interstate Power and Light Co197 Intra Energy Corp Ltd198 IPALCO Enterprises Inc199 Irkutskenergo PJSC200 Israel Electric Corp Ltd201 Japan Petroleum Exploration Co Ltd202 Jardine Cycle & Carriage Ltd203 Jastrzebska Spolka Weglowa SA204 Jiangsu Guoxin Corp Ltd205 Jilin Electric Power Co Ltd206 Jindal Steel & Power Ltd207 Jinneng Holding Shanxi Coal Industry Co Ltd208 Jinneng Holding Shanxi Electric Power Co Ltd209 Jizhong Energy Resources Co Ltd210 Jointo Energy Investment Co Ltd Hebei211 JSW Energy Ltd212 Kangaroo Resources Ltd213 K-Electric Ltd214 Kentucky Utilities Co215 Kern River Funding Corp216 Kinetic Mines and Energy Ltd217 Korea East-West Power Co Ltd218 Korea Electric Power Corp219 Korea Midland Power Co Ltd220 Korea South-East Power Co Ltd221 Korea Southern Power Co Ltd222 Korea Western Power Co Ltd223 KSK Energy Ventures Ltd224 Kuzbasskaya Toplivnaya Kompaniya PAO225 KyungDong Invest Co Ltd226 Kyushu Electric Power Co Inc227 Lanco Infratech Ltd228 Lanna Resources PCL229 LG&E and KU Energy LLC230 Listrindo Capital BV231 LLPL Capital Pte Ltd232 Louisville Gas and Electric Co233 Lubelski Wegiel Bogdanka SA234 Malakoff Corp Bhd235 Manila Electric Co236 Maxim Power Corp237 MC Mining Ltd238 MEG Energy Corp239 MGE Energy Inc240 MidAmerican Energy Co

241 Minejesa Capital BV242 Mitrabara Adiperdana Tbk PT243 Mong Duong Finance Holdings BV244 Mongolia Energy Corp Ltd245 Murray Energy Corp246 NACCO Industries Inc247 Nan Nan Resources Enterprise Ltd248 Natural Resource Partners LP249 Nava Bharat Ventures Ltd250 New Hope Corp Ltd251 NiSource Inc252 NLC India Ltd253 Northern Electric Finance PLC254 Northern Electric PLC255 Northern Natural Gas Co256 Northern Powergrid Holdings Co257 Northern Powergrid Yorkshire PLC258 Northern States Power Co/MN259 NorthWestern Corp260 Nova Scotia Power Inc261 NRG Energy Inc262 NTPC Ltd263 NV Energy Inc264 Obsidian Energy Ltd265 OGE Energy Corp266 OGK-2 PJSC267 Okinawa Electric Power Co Inc/The268 Oklahoma Gas and Electric Co269 OPG Power Ventures PLC270 Origin Energy Ltd271 Otter Tail Corp272 PacifiCorp273 Paiton Energy PT274 Pardee Resources Co275 Peabody Energy Corp276 Pengrowth Energy Corp277 Perusahaan Perseroan Persero PT Perusahaan Listrik

Negara278 PGE Gornictwo i Energetyka Konwencjonalna SA279 PGE Polska Grupa Energetyczna SA280 PGE Sweden AB281 Pha Lai Thermal Power JSC282 Piedmont Natural Gas Co Inc283 Pingdingshan Tianan Coal Mining Co Ltd284 Pinnacle West Capital Corp285 PNM Resources Inc286 Portland General Electric Co287 PPL Capital Funding Inc288 PPL Corp289 PPL WEM Ltd / Western Power Distribution PLC290 Public Power Corp SA291 Public Service Co of Colorado292 Public Service Co of New Mexico293 Public Service Co of Oklahoma294 Raging River Exploration Inc295 Ratch Group PCL296 Reliance Power Ltd297 Resource Alam Indonesia Tbk PT298 Resources Prima Group Ltd299 RGS AEGCO Funding Corp300 RGS I&M Funding Corp301 Rhino Resource Partners LP302 Rosan Resources Holdings Ltd303 RusHydro PJSC304 RWE AG305 Sadovaya Group SA306 SDIC Power Holdings Co Ltd307 Sembcorp Industries Ltd308 Semirara Mining & Power Corp309 Shaanxi Coal Industry Co Ltd310 Shan Xi Hua Yang Group New Energy Co Ltd311 Shanghai Datun Energy Resources Co Ltd312 Shanghai Electric Power Co Ltd313 Shanghai Electric Power Finance Ltd314 Shanxi Coking Coal Energy Group Co Ltd315 Shanxi Lanhua Sci-Tech Venture Co Ltd316 Shanxi Lu’an Environmental Energy Development Co Ltd317 Shenergy Co Ltd318 Shenzhen Energy Group Co Ltd319 Shikoku Electric Power Co Inc320 Sierra Pacific Power Co

321 SMC Global Power Holdings Corp322 South32 Ltd323 Southern Co Gas Capital Corp324 Southern Co/The325 Southern Power Co326 Southstone Minerals Ltd327 Southwestern Electric Power Co328 Southwestern Public Service Co329 SPIC 2016 US dollar Bond Co Ltd330 Spic 2018 Usd Senior Perpetual Bond Co Ltd331 SPIC Dongfang New Energy Corp332 Stanmore Coal Ltd333 Strata Power Corp334 Suncor Energy Inc335 Suncor Energy Ventures Corp336 Suncor Energy Ventures Holding Corp337 Sundiro Holding Co Ltd338 Sunshine Oilsands Ltd339 Taiwan Cement Corp340 Talen Energy Corp341 TAQA Morocco SA342 Tata Power Co Ltd/The343 Tauron Polska Energia SA344 TBS Energi Utama Tbk PT345 TCC International Holdings Ltd346 TECO Energy Inc347 Tenaga Nasional Bhd348 Terra Mauricia Ltd349 Terracom Ltd350 Texas Competitive Electric Holdings Co LLC / TCEH

Finance Inc351 TNB Global Ventures Capital Bhd352 Tohoku Electric Power Co Inc353 Top Energy Co Ltd Shanxi354 TPI Polene Power PCL355 Trada Alam Minera Tbk PT356 TransAlta Corp357 Transelectrica SA358 Tri-State Generation and Transmission Association Inc359 Tucson Electric Power Co360 Unicorn Capital Partners Ltd361 Union Electric Co362 Unipro PJSC363 United Tractors Tbk PT364 Universal Coal PLC365 Viesgo Infraestructuras Energeticas SL366 Vinacomin - Ha Tu Coal JSC367 Vinacomin - Mong Duong Coal JSC368 Vinacomin - Nui Beo Coal JSC369 Vinacomin Cao Son Coal JSC370 Vinacomin Coc Sau Coal JSC371 Vinacomin Deo Nai Coal JSC372 Vinacomin Vang Danh Coal JSC373 Vistra Corp374 Vistra Operations Co LLC375 Washington H Soul Pattinson & Co Ltd376 WEC Energy Group Inc377 Weiqiao Textile Co378 Wescoal Holdings Ltd379 Westmoreland Coal Co380 Westmoreland Resource Partners LP381 White Energy Co Ltd382 Whitehaven Coal Ltd383 Wintime Energy Co Ltd384 Wisconsin Electric Power Co385 Wisconsin Power and Light Co386 Wisconsin Public Service Corp387 Xcel Energy Inc388 Yancoal Australia Ltd389 Yancoal International Resources Development Co Ltd390 Yanzhou Coal Mining Co Ltd391 Yorkshire Power Finance Ltd392 Zespol Elektrowni Patnow Adamow Konin SA393 Zhejiang Southeast Electric Power Co394 Zhejiang Zheneng Electric Power Co Ltd395 Zhengzhou Coal Industry & Electric Power Co Ltd

Controversial countries1 Afghanistan 2 Burundi 3 Central African Republic

MAY 2021 13

4 Congo, Democratic Republic5 Iran6 Iraq7 Libya8 Mali9 Myanmar10 North Korea11 Somalia12 South Sudan 13 Sudan14 Syria15 Yemen16 Zimbabwe

Miltary contracting1 AAR Corp2 Abu Dhabi Ship Building Co PJSC3 Adani Enterprises Ltd4 Aerojet Rocketdyne Holdings Inc5 Aeronautics Ltd6 Aerospace Industrial Development Corp7 Aerostar SA Bacau8 AeroVironment Inc9 Airbus Finance BV10 Airbus SE11 Albany International Corp12 Allied Motion Technologies Inc13 Allison Transmission Holdings Inc14 Allison Transmission Inc15 AMETEK Inc16 Amphenol Corp17 Amphenol Technologies Holding GmbH18 Anhui Great Wall Military Industry Co Ltd19 Arotech Corp20 Aryt Industries Ltd21 Aselsan Elektronik Sanayi Ve Ticaret AS22 Ashot -Ashkelon Industries Ltd23 Astra Microwave Products Ltd24 Astronics Corp25 Austal Ltd26 AVIC Electromechanical Systems Co Ltd27 AVIC International Finance & Investment Ltd28 AviChina Industry & Technology Co Ltd29 Babcock International Group PLC30 BAE Systems Finance Inc31 BAE Systems Holdings Inc32 BAE Systems PLC33 Benchmark Electronics Inc34 Bharat Dynamics Ltd35 Bharat Electronics Ltd36 Bodycote PLC37 Boeing Co/The38 Boustead Heavy Industries Corp Bhd39 BWX Technologies Inc40 Carpenter Technology Corp41 Changsha Jingjia Microelectronics Co Ltd42 Chemring Group PLC43 China Aerospace Times Electronics Co Ltd44 China Shipbuilding Industry Co Ltd45 CIRCOR International Inc46 Cobham Ltd47 Cochin Shipyard Ltd48 Cohort PLC49 Crane Co50 CSBC Corp Taiwan51 CSRA Inc52 CSSC Capital 2015 Ltd53 Cssc Capital Two Ltd54 Cubic Corp55 Curtiss-Wright Corp56 Dassault Aviation SA57 Destini Bhd58 Ducommun Inc59 Eaton Capital Unlimited Co60 Eaton Corp61 Eaton Corp PLC62 ECA63 Elbit Systems Ltd64 Electro Optic Systems Holdings Ltd65 Embraer Netherlands Finance BV66 Embraer Overseas Ltd

67 Embraer SA68 EMKOREA Co Ltd69 ESCO Technologies Inc70 Esterline Technologies Corp71 Fincantieri SpA72 Firstec Co Ltd73 FLIR Systems Inc74 Fluor Corp75 Fujian Torch Electron Technology Co Ltd76 Garden Reach Shipbuilders & Engineers Ltd77 Gemalto Holding BV78 General Dynamics Corp79 GKN Holdings Ltd80 GKN Ltd81 Global Brass and Copper Holdings Inc82 Griffon Corp83 Groupe Gorge SA84 H&K AG85 Hanil Forging Industrial Co Ltd86 Hanwha Aerospace Co Ltd87 Hanwha Corp88 Hanwha Systems Co Ltd89 HEICO Corp90 Heroux-Devtek Inc91 Hindustan Aeronautics Ltd92 Honeywell International Inc93 Howmet Aerospace Inc94 Huneed Technologies95 Huntington Ingalls Industries Inc96 Hyundai Rotem Co Ltd97 Hyundai Wia Corp98 Iar SA Brasov99 IHI Corp100 Indra Sistemas SA101 Inner Mongolia First Machinery Group Co Ltd102 Intevac Inc103 Irkut Corp PJSC104 Jacobs Engineering Group Inc105 Jenoptik AG106 Jiangxi Hongdu Aviation Industry Co Ltd107 Kaman Corp108 Kawasaki Heavy Industries Ltd109 KeyW Holding Corp/The110 Kitron ASA111 Kongsberg Gruppen ASA112 Korea Aerospace Industries Ltd113 Kratos Defense & Security Solutions Inc114 KVH Industries Inc115 L3 Technologies Inc116 L3Harris Technologies Inc117 Leonardo SpA118 Leonardo US Holdings Inc119 LIG Nex1 Co Ltd120 Lockheed Martin Corp121 Lumibird122 Magellan Aerospace Corp123 ManTech International Corp/VA124 Materion Corp125 Meggitt PLC126 Melrose Industries PLC127 Mercury Systems Inc128 Mikros Systems Corp129 Mitsubishi Heavy Industries Ltd130 Moog Inc131 MS INTERNATIONAL PLC132 MTU Aero Engines AG133 National Presto Industries Inc134 North Industries Group Red Arrow Co Ltd135 Northrop Grumman Corp136 Northrop Grumman Systems Corp137 Oceaneering International Inc138 Optex Systems Holdings Inc139 Orbit International Corp140 Orbit Technologies Ltd141 Oshkosh Corp142 Otokar Otomotiv Ve Savunma Sanayi A.S.143 PAE Inc144 Perspecta Inc145 Petards Group PLC146 Plexus Corp147 Poongsan Corp

148 Premier Explosives Ltd149 Pressure Technologies PLC150 QinetiQ Group PLC151 RADA Electronic Industries Ltd152 Raytheon Co153 Raytheon Technologies Corp154 RBC Bearings Inc155 Reliance Naval & Engineering Ltd156 Renk AG157 Reunert Ltd158 Rheinmetall AG159 Rikei Corp160 Rolls-Royce Holdings PLC161 Rolls-Royce PLC162 RSL Electronics Ltd163 S&T Dynamics Co Ltd164 S&T Motiv Co Ltd165 SA Belge de Constructions Aeronautiques166 Saab AB167 Safran SA168 Sanmina Corp169 Science Applications International Corp170 Senior PLC171 Serco Group PLC172 Singapore Technologies Engineering Ltd173 Spirit AeroSystems Inc174 St Engineering Rhq Ltd175 STX Engine Co Ltd176 Taurus Armas SA177 Tellhow Sci-Tech Co Ltd178 Tetra Tech Inc179 Textron Inc180 Thales SA181 Timken India Ltd182 TransDigm Group Inc183 TransDigm Inc184 TTM Technologies Inc185 Tupolev PJSC186 Ultra Electronics Holdings PLC187 Ultralife Corp188 Umbra Applied Technologies Group Inc189 United Aircraft Corp PJSC190 ViaSat Inc191 Vista Outdoor Inc192 Vitzrocell Co Ltd193 VSE Corp194 Walchandnagar Industries Ltd195 Woodward Inc196 Xi’an Tian He Defense Technology Co Ltd197 XTEK Ltd198 ZheJiang Dali Technology Co Ltd

Fire arms1 Asahi-Seiki Manufacturing Co Ltd2 BAE Systems Finance Inc3 BAE Systems Holdings Inc4 BAE Systems PLC5 Clarus Corp6 CSRA Inc7 Gemalto Holding BV8 General Dynamics Corp9 H&K AG10 Howa Machinery Ltd11 Miroku Corp12 NOF Corp13 Northrop Grumman Corp14 Northrop Grumman Systems Corp15 Olin Corp16 Rheinmetall AG17 S&T Dynamics Co Ltd18 S&T Motiv Co Ltd19 Singapore Technologies Engineering Ltd20 Smith & Wesson Brands Inc21 Sportsman’s Warehouse Holdings Inc22 St Engineering Rhq Ltd23 Sturm Ruger & Co Inc24 Taurus Armas SA25 Thales SA26 Umbra Applied Technologies Group Inc27 Verney-Carron SA28 Vista Outdoor Inc

MAY 2021 14

29 XTEK Ltd

Nuclear Power1 Arizona Public Service Co2 Bruce Power LP3 Castle Peak Power Finance Co Ltd4 CGN Power Co Ltd5 CGNPC International Ltd6 China Clean Energy Development Ltd7 China National Nuclear Power Co Ltd8 CLP Holdings Ltd9 CLP Power HK Finance Ltd10 CLP Power Hong Kong Financing Ltd11 Duke Energy Carolinas LLC12 Duke Energy Progress LLC13 El Paso Electric Co14 Electricite de France SA15 Entergy Arkansas LLC16 Exelon Corp17 Exelon Generation Co LLC18 Fair Hydro Trust19 Indiana Michigan Power Co20 Korea Hydro & Nuclear Power Co Ltd21 Kyushu Electric Power Co Inc22 Lower Mattagami Energy LP23 Oglethorpe Power Corp24 Ontario Power Generation Inc25 Pacific Gas and Electric Co26 PG&E Corp27 Public Service Co of New Mexico28 Societatea Nationala Nuclearelectrica SA29 Teollisuuden Voima Oyj30 UMH Energy Partnership

Alcohol1 Abrau-Durso PJSC2 Adnams PLC3 Advini4 African Distillers Ltd5 Alcanna Inc6 Alita Group AB7 Allgaeuer Brauhaus AG8 Alliance Global Group Inc9 Altia Oyj10 Ambev SA11 Ambra SA12 Amiyaki Tei Co Ltd13 Anadolu Efes Biracilik Ve Malt Sanayii AS14 Andrew Peller Ltd15 Angel Yeast Co Ltd16 Angostura Holdings Ltd17 Anheuser-Busch Cos LLC / Anheuser-Busch InBev

Worldwide Inc18 Anheuser-Busch InBev Finance Inc19 Anheuser-Busch InBev SA/NV20 Anheuser-Busch InBev Worldwide Inc21 Anhui Golden Seed Winery Co Ltd22 Anhui Gujing Distillery Co Ltd23 Anhui Kouzi Distillery Co Ltd24 Arcus ASA25 Aristocrat Group Corp26 Asahi Group Holdings Ltd27 Associated Alcohols & Breweries Ltd28 Atlan Holdings Bhd29 Atom Corp30 Australian Vintage Ltd31 AUX International Holding Ltd32 AWG Ltd33 B&S Group Sarl34 Bacardi Ltd35 Badel 1862 dd36 Bagger Dave’s Burger Tavern Inc37 Bar Pacific Group Holdings Ltd38 Baron de Ley SA39 BBQ Holdings Inc40 Becle SAB de CV41 Beijing Enterprises Holdings Ltd42 Beijing Gas Singapore Capital Corp43 Beijing Shunxin Agriculture Co Ltd44 Beijing Yanjing Brewery Co Ltd45 Beluga Group PJSC

46 Berentzen-Gruppe AG47 Bermas SA48 Between Dandelions Inc49 BHB Brauholding Bayern-Mitte AG50 Big Rock Brewery Inc51 BJ’s Restaurants Inc52 Bloomin’ Brands Inc53 Bodegas Esmeralda SA54 Bodegas Riojanas SA55 Bohae Brewery Co Ltd56 Boston Beer Co Inc/The57 Boutaris J & Sons Holdings58 Bralirwa SA59 Brinker International Inc60 BRONCO BILLY Co Ltd61 Broo Ltd62 Browar Czarnkow SA63 Brown-Forman Corp64 Budweiser Brewing Co APAC Ltd65 C&C Group PLC66 CA Ron Santa Teresa SACA67 Capevin Holdings Ltd68 Carlsberg AS69 Carlsberg Breweries AS70 Carlsberg Brewery Malaysia Bhd71 Carlsberg Ukraine PJSC72 Carson Cumberbatch PLC73 Castle Brands Inc74 Central American Bottling Corp75 Ceylon Beverage Holdings PLC76 Champion Breweries PLC77 Chapel Down Group PLC78 Cheesecake Factory Inc/The79 Chengdu Hongqi Chain Co Ltd80 CHIMNEY Co Ltd81 China New Borun Corp82 China Ouhua Winery Holdings Ltd83 China Resources Beer Holdings Co Ltd84 China Tontine Wines Group Ltd85 Chipotle Mexican Grill Inc86 Chongqing Brewery Co Ltd87 Christian Dior SE88 Chuy’s Holdings Inc89 Cia Cervecerias Unidas SA90 Cia Immobiliare Azionaria91 CITIC Guoan Wine Co Ltd92 City Pub Group PLC93 Classified Group Holdings Ltd94 Co.Br.Ha Societe Commerciale de Brasserie SA95 Coca-Cola Amatil Ltd96 Coles Group Ltd97 Coles Group Treasury Pty Ltd98 Colowide Co Ltd99 Comptoir Group plc100 Constellation Brands Inc101 Corby Spirit and Wine Ltd102 Corticeira Amorim SGPS SA103 Craft Brew Alliance Inc104 Create Restaurants Holdings Inc105 Crimson Wine Group Ltd106 Cristalerias de Chile SA107 Daisyo Corp108 Daniel Thwaites PLC109 Darden Restaurants Inc110 Dave & Buster’s Entertainment Inc111 Davide Campari-Milano NV112 DD Holdings Co Ltd113 Del Frisco’s Restaurant Group Inc114 Delegat Group Ltd115 Delta Corp Ltd/Zimbabwe116 Delta Djakarta Tbk PT117 Denny’s Corp118 Diageo Capital BV119 Diageo Capital PLC120 Diageo Finance PLC121 Diageo Investment Corp122 Diageo PLC123 Diamond Estates Wines & Spirits Ltd124 Digital Wine Ventures Ltd125 Dino Polska SA126 Distell Group Holdings Ltd

127 Distell Group Ltd128 Distil PLC129 Distilleries Co of Sri Lanka PLC130 Diversified Restaurant Holdings Inc131 Dufry AG132 Dufry One BV133 Dukang Distillers Holdings Ltd134 Dynac Holdings Corp135 Dynasty Fine Wines Group Ltd136 East African Breweries Ltd137 Eastside Distilling Inc138 EI Group Ltd139 Einbecker Brauhaus AG140 Empee Distilleries Ltd141 Emperador Inc142 Eumundi Group Ltd143 Eurocash SA144 FBG Finance Pty Ltd145 Flanigan’s Enterprises Inc146 Florida Ice & Farm Co SA147 Fogo De Chao Inc148 Foley Wines Ltd149 Fujian Yanjing Huiquan Brewery Co Ltd150 Fujio Food Group Inc151 Fulham Shore Plc/The152 Fuller Smith & Turner PLC153 Fulum Group Holdings Ltd154 Gansu Mogao Industrial Development Co Ltd155 Genki Sushi Co Ltd156 Ginebra San Miguel Inc157 Globus Spirits Ltd158 GM Breweries Ltd159 Goldin Financial Holdings Ltd160 Good Drinks Australia Ltd161 Good Times Restaurants Inc162 Grace Wine Holdings Ltd163 Granite City Food & Brewery Ltd164 Greene King Ltd165 Grupa Zywiec SA166 Grupo Modelo SAB de CV167 Guala Closures SpA168 Guangzhou Zhujiang Brewery Co Ltd169 Gubernija170 Guinness Ghana Breweries Ltd171 Guinness Nigeria PLC172 Gurktaler AG173 Gusbourne PLC174 Hachi-Ban Co Ltd175 Hainan Yedao Co Ltd176 Hanoi-Hai Duong Beer JSC177 Harboes Bryggeri A/S178 Hawesko Holding AG179 Heavitree Brewery PLC/The180 Hebei Hengshui Laobaigan Liquor Co Ltd181 Heineken Holding NV182 Heineken Malaysia Bhd183 Heineken NV184 Hexza Corp BHD185 Hey Song Corp186 Hiday Hidaka Corp187 Hite Jinro Co Ltd188 Hitejinro Holdings Co Ltd189 Honworld Group Ltd190 HUB Co Ltd191 IFB Agro Industries Ltd192 Ikka Dining Project Co Ltd193 India Glycols Ltd194 International Breweries PLC195 Italian Wine Brands SpA196 Itochu-Shokuhin Co Ltd197 J Alexander’s Holdings Inc198 J D Wetherspoon PLC199 Jagatjit Industries Ltd200 Jiangsu King’s Luck Brewery JSC Ltd201 Jiangsu Yanghe Brewery Joint-Stock Co Ltd202 Jinro Distillers Co Ltd203 JiuGui Liquor Co Ltd204 Jumbo Group Ltd205 K Group Holdings Ltd206 Kanmonkai Co Ltd207 Kappa Create Co Ltd

MAY 2021 15

208 Kato Sangyo Co Ltd209 KEO Plc210 Khoday India Ltd211 Kichiri Holdings & Co Ltd212 Kikkoman Corp213 Kirin Holdings Co Ltd214 Kisoji Co Ltd215 KM Sugar Mills Ltd216 Kona Grill Inc217 Kook Soon Dang Brewery Co Ltd218 Kopparbergs Bryggeri AB219 Korea Alcohol Industrial Co Ltd220 Ktima Kostas Lazaridis SA221 Kuaijishan Shaoxing Wine Co Ltd222 Kulmbacher Brauerei AG223 Kura Sushi Inc224 Kura Sushi USA Inc225 Kushikatsu Tanaka Holdings Co226 Kweichow Moutai Co Ltd227 Landshuter Brauhaus AG Privatbrauerei228 Lanson-BCC229 Lanzhou Huanghe Enterprise Co230 Latvijas Balzams AS231 Laurent-Perrier232 LH GROUP LTD233 Li Bao Ge Group Ltd234 Life Intelligent Enterprise Holdings Co Ltd235 Lion Brewery Ceylon PLC236 Lombard et Medot237 Lomsko Pivo AD238 Lotte Chilsung Beverage Co Ltd239 LT Group Inc240 Lucas Bols NV241 Luzhou Laojiao Co Ltd242 LVMH Moet Hennessy Louis Vuitton SE243 Mackmyra Svensk Whisky AB244 Madison Holdings Group Ltd245 Major Holdings Ltd246 Malteries Franco Belges247 Marani Brands Inc248 Marche Corp249 Marie Brizard Wine & Spirits SA250 Marston’s PLC251 Masi Agricola SpA252 Massmart Holdings Ltd253 Max’s Group Inc254 McColl’s Retail Group PLC255 Mega Advance Investments Ltd256 Melstacorp PLC257 Mendocino Brewing Co Inc258 Metcash Ltd259 MGP Ingredients Inc260 Mhethanol Co Ltd261 Mitchells & Butlers PLC262 Mitsubishi Shokuhin Co Ltd263 Moa Group Ltd264 Molson Coors Beverage Co265 Molson Coors Canada Inc266 Molson Coors International LP267 Monogatari Corp/The268 MS Concept Ltd269 Muhak Co Ltd270 Multi Bintang Indonesia Tbk PT271 Murree Brewery Co Ltd272 Naked Wines PLC273 Namibia Breweries Ltd274 National Breweries PLC275 National Storage REIT276 New Silkroad Culturaltainment Ltd277 Nigerian Breweries PLC278 NoHo Partners Oyj279 OCI International Holdings Ltd280 Oeneo SA281 Oenon Holdings Inc282 Olvi Oyj283 ONE Group Hospitality Inc284 Ottakringer Getraenke AG285 Panache Beverage Inc286 Park & Bellheimer AG287 Pernod Ricard International Finance LLC288 Pernod Ricard SA

289 Phoenix Beverages Ltd290 Piccadily Agro Industries Ltd291 Piccadily Sugar & Allied Industries Ltd292 Pioneer Distilleries Ltd293 Prodvinalco294 Pungkuk Alcohol Industry Co Ltd295 Purcari Wineries PLC296 Qinghai Huzhu Barley Wine Co Ltd297 Radico Khaitan Ltd298 Rana Sugars Ltd299 Ravi Kumar Distilleries Ltd300 RBI Ventures Ltd301 RCI Hospitality Holdings Inc302 Recipe Unlimited Corp303 Red Robin Gourmet Burgers Inc304 Redcape Hotel Group305 Remy Cointreau SA306 Restaurant Group PLC/The307 Revolution Bars Group Plc308 Ringer Hut Co Ltd309 Rocky Mountain Liquor Inc310 Royal Century Resources Holdings Ltd311 Royal Holdings Co Ltd312 Royal Unibrew A/S313 Ruth’s Hospitality Group Inc314 Saigon Beer Alcohol Beverage Corp315 Saizeriya Co Ltd316 Sakae Holdings Ltd317 San Miguel Brewery Hong Kong Ltd318 San Miguel Corp319 San Miguel Food and Beverage Inc320 Sapporo Holdings Ltd321 Scheid Vineyards Inc322 Schloss Wachenheim AG323 Schlumberger Finance Canada Ltd324 Sechaba Breweries Holdings Ltd325 Sektkellerei J. Oppmann AG/New326 SFP Holdings Co Ltd327 Shanxi Xinghuacun Fen Wine Factory Co Ltd328 Shede Spirits Co Ltd329 Shepherd Neame Ltd330 Sichuan Swellfun Co Ltd331 Silver Base Group Holdings Ltd332 Silver Oak India Ltd333 Simbhaoli Sugars Ltd334 Simonds Farsons Cisk335 Simplicity Holding Ltd336 Skylark Holdings Co Ltd337 Sociedad Agricola La Rosa Sofruco SA338 Societe Brasseries du Cameroun339 Societe de Limonaderies et Brasseries340 Societe Des Boissons du Maroc341 SOM Distilleries And Breweries Ltd342 SPAR Group Ltd/The343 SSP Group Plc344 STINAG Stuttgart Invest AG345 Stock Spirits Group PLC346 Stonegate Pub Co Financing PLC347 Takara Holdings Inc348 Talent Yield Euro Ltd349 Talent Yield European Ltd350 Talent Yield Investments Ltd351 Tanzania Breweries Ltd352 Tasty PLC353 Tejon Ranch Co354 Teliani Valley Polska SA355 Ten Allied Co Ltd356 Tenwow International Holdings Ltd357 Terra Mauricia Ltd358 Texas Roadhouse Inc359 TFF Group360 Thai Beverage PCL361 Thang Long Wine JSC362 Thanh Hoa Beer JSC363 Thiru Arooran Sugars Ltd364 Tibet Development Co ltd365 Tibet Water Resources Ltd366 Tilaknagar Industries Ltd367 Todoroff AD-Sofia368 Tokyo Ichiban Foods Co Ltd369 Tonghua Grape Wine Co Ltd

370 Top Frontier Investment Holdings Inc371 Torikizoku Holdings Co Ltd372 Totenko Co Ltd373 Treasury Wine Estates Ltd374 Truett-Hurst Inc375 Tsingtao Brewery Co Ltd376 Turk Tuborg Bira ve Malt Sanayii AS377 U Banquet Group Holding Ltd378 Ugar Sugar Works Ltd379 Ukai Co Ltd380 Umenohana Co Ltd381 Umida Group AB382 Union de Cervecerias Peruanas Backus y Johnston SAA383 United Breweries Holdings Ltd384 United Breweries Ltd385 United Malt Grp Ltd386 United Spirits Ltd387 V V Food & Beverage Co Ltd388 Vapiano SE389 Vats Liquor Chain Store Management JSC Ltd390 VIA Holdings Inc391 Vilniaus Degtine AB392 Vina Concha y Toro SA393 Vina San Pedro Tarapaca SA394 Vina Santa Rita SA395 Vinedos Emiliana SA396 Vino Zupa ad Aleksandrovac397 Vinzavod AD-Asenovgrad398 Vodka Brands Corp399 Vranken-Pommery Monopole SA400 Wagamama Finance PLC401 WATAMI Co Ltd402 Waterloo Brewing Ltd403 Watt’s Alimentos SA404 WDI Corp405 Willamette Valley Vineyards Inc406 Wine’s Link International Holdings Ltd407 Winsome Breweries Ltd408 Woolworths Group Ltd409 Wowprime Corp410 Wuliangye Yibin Co Ltd411 Xinjiang Yilite Industry Co Ltd412 Yamae Hisano Co Ltd413 Yamaya Corp414 Yantai Changyu Pioneer Wine Co Ltd415 Yomeishu Seizo Co Ltd416 Young & Co’s Brewery PLC417 Y’s Table Corp418 Zambian Breweries PLC419 Zhejiang Guyuelongshan Shaoxing Wine Co Ltd420 Zwack Unicum Rt

Gambling1 500.com Ltd2 888 Holdings PLC3 Accel Entertainment Inc4 ACROUD AB5 Affinity Gaming6 Agilysys Inc7 AGTech Holdings Ltd8 Ainsworth Game Technology Ltd9 Angler Gaming PLC10 Aquis Entertainment Ltd11 Aristocrat Leisure Ltd12 Aspire Global PLC13 Astro Corp14 Atlantis Internet Group Corp15 Automatic Systems Ltd16 Axell Corp17 B90 Holdings PLC18 Bally’s Corp19 Belle Corp20 Berjaya Assets BHD21 Berjaya Corp Bhd22 Berjaya Land Bhd23 Berjaya Sports Toto Bhd24 Best Of The Best PLC25 bet-at-home.com AG26 Betsson AB27 Better Collective A/S28 Blick Global Group AB

MAY 2021 16

29 Bloomberry Resorts Corp30 Boldt SA31 Boyd Gaming Corp32 Buena Vista Gaming Authority33 Butler National Corp34 Caesars Entertainment Inc35 Caesars Entertainment Inc/old36 Caesars Holdings Inc37 Caesars Resort Collection LLC / CRC Finco Inc38 Canterbury Park Holding Corp39 Canterbury Park Holding Corp/Old40 Catena Media PLC41 CCM Merger Inc42 Century Casinos Inc43 Century Entertainment International Holdings Ltd44 Cherry AB45 China LotSynergy Holdings Ltd46 Churchill Downs Inc47 Cirsa Finance International Sarl48 Club Hipico de Santiago SA49 Codere SA/Spain50 Contagious Gaming Inc51 Crown Resorts Ltd52 Cyan AG53 Daikoku Denki Co Ltd54 Delta Corp Ltd55 DFNN Inc56 Donaco International Ltd57 Dover Downs Gaming & Entertainment Inc58 Downstream Development Authority of the Quapaw

Tribe of Oklahoma59 DraftKings Inc60 Dynam Japan Holdings Co Ltd61 Elys Game Technology Corp62 Emperor Entertainment Hotel Ltd63 Emperor International Holdings Ltd64 Empire Resorts Inc65 Enjoy SA66 Enlabs AB67 Ennoconn Corp68 Entain PLC69 Enterprise Development Authority/The70 eQube Gaming Ltd71 Estoril Sol SGPS SA72 Eumundi Group Ltd73 Evergreen Gaming Corp74 Everi Holdings Inc75 Evolution Gaming Group AB76 Fields Corp77 Flutter Entertainment PLC78 Fortuna Entertainment Group NV79 Fujishoji Co Ltd80 Full House Resorts Inc81 Future Gaming Group Inter AB82 Galaxy Entertainment Group Ltd83 Galaxy Gaming Inc84 Gamehost Inc85 Gamenet Group SpA86 Gamesys Group PLC87 Gaming and Leisure Properties Inc88 Gaming Innovation Group Inc89 Gaming Realms PLC90 Gamma Civic Ltd91 GAN Ltd92 GAN PLC93 Gateway Casinos & Entertainment Ltd94 Gendai Agency Inc95 Genting Bhd96 Genting Malaysia Bhd97 Genting Singapore Ltd98 Global Gaming 555 AB99 Glory Ltd100 GLP Capital LP / GLP Financing II Inc101 Gohl Capital Ltd102 Golden Entertainment Inc103 Golden Nugget Inc104 Grand Korea Leisure Co Ltd105 Great Canadian Gaming Corp106 Groupe Partouche SA107 Guoco Group Ltd108 Heiwa Corp

109 Hosken Consolidated Investments Ltd110 Ibase Gaming Inc111 Imperial Pacific International Holdings Ltd112 Innodisk Corp113 Inspired Entertainment Inc114 International Game Technology115 International Game Technology PLC116 Intralot SA-Integrated Lottery Systems & Services117 Jackpot Digital Inc118 Jacobs Entertainment Inc119 Japan Cash Machine Co Ltd120 Jumbo Interactive Ltd121 Kai Chieh International Investment Ltd122 Kambi Group PLC123 Kangwon Land Inc124 Keck Seng Investments Hong Kong Ltd125 Kinbasha Gaming International Inc126 Kindred Group PLC127 Kingston Financial Group Ltd128 Konami Holdings Corp129 La Francaise des Jeux SAEM130 Ladbrokes Coral Group Ltd131 Landing International Development Ltd132 Las Vegas Sands Corp133 Lasseters International Holdings Ltd134 Leisure & Resorts World Corp135 LeoVegas AB136 Loto Interactive Ltd137 Lotto24138 LottoGopher Holdings Inc139 Lottotech Ltd140 Macau Legend Development Ltd141 Magnum Bhd142 Manila Jockey Club Inc143 Mars Group Holdings Corp144 Melco International Development Ltd145 Melco Resorts & Entertainment Ltd146 Melco Resorts & Entertainment Philippines Corp147 Melco Resorts Finance Ltd148 MGM China Holdings Ltd149 MGM Growth Properties LLC150 MGM Growth Properties Operating Partnership LP /

MGP Finance Co-Issuer Inc151 MGM Resorts International152 Mohegan Gaming & Entertainment153 Monarch Casino & Resort Inc154 Mr. Green & Co AB155 NagaCorp Ltd156 NET Holding AS157 NetEnt AB158 New Silkroad Culturaltainment Ltd159 Niraku GC Holdings Inc160 Novomatic AG161 Oizumi Corp162 Olympia Industries Bhd163 Olympic Entertainment Group AS164 OPAP SA165 Pacific Online Systems Corp166 Paradise Co Ltd167 Paradise Entertainment Ltd168 Parpro Corp169 Penn National Gaming Inc170 pferdewetten.de AG171 Philippine Racing Club Inc172 Philweb Corp173 Phumelela Gaming & Leisure Ltd174 Pinnacle Entertainment Inc175 PlayAGS Inc176 Playsafe Holding AS177 Playtech Plc178 PointsBet Holdings Ltd179 Poletowin Pitcrew Holdings Inc180 Pollard Banknote Ltd181 Premium Leisure Corp182 Queenco Ltd183 Quixant PLC184 Raketech Group Holding PLC185 Rank Group PLC186 Red Rock Resorts Inc187 Redcape Hotel Group188 Reef Casino Trust

189 Resorts World Las Vegas LLC / RWLV Capital Inc190 REXLot Holdings Ltd191 RGB International Bhd192 Rich Goldman Holdings Ltd193 Royal Highgate Plc194 Royal International Corp195 Sands China Ltd196 Sankyo Co Ltd197 Sazka Group AS198 Scientific Games Corp199 Scientific Games International Inc200 Sciplay Corp201 Sega Sammy Holdings Inc202 Silver Heritage Group Ltd203 Sinopharm Tech Holdings Ltd204 Sisal Group SpA205 SJM Holdings Ltd206 SKYCITY Entertainment Group Ltd207 Snaitech SpA208 Sociedad Hipodromo Chile209 Societe des Bains de Mer et du Cercle des Etrangers a

Monaco210 Societe Fermiere du Casino Municipal de Cannes211 Societe francaise de Casinos212 Sportech PLC213 St James House PLC214 Star Entertainment Grp Ltd/The215 Stars Group Holdings BV / Stars Group US Co-Borrower

LLC216 Stars Group Inc/The217 Sterling Group Ventures Inc218 Stride Gaming plc219 Studio City Co Ltd220 Studio City Finance Ltd221 Studio City International Holdings Ltd222 Success Dragon International Holdings Ltd223 Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse

HSP Gaming Finance Corp224 Summit Ascent Holdings Ltd225 Sun Corp226 Sun International Ltd/South Africa227 Supreme Ventures Ltd228 Synectics PLC229 Tabcorp Holdings Ltd230 Table Trac Inc231 Thunderbird Resorts Inc232 Tokyotokeiba Co Ltd233 Tose Co Ltd234 Tourist Co of Nigeria PLC235 TransAct Technologies Inc236 Travellers International Hotel Group Inc237 Tsogo Sun Gaming Ltd238 Tsogo Sun Hotels Ltd239 Unity Software Inc240 Universal Entertainment Corp241 Valparaiso Sporting Club242 VICI Properties Inc243 VICI Properties LP / VICI Note Co Inc244 Waterfront Philippines Inc245 Webis Holdings PLC246 William Hill PLC247 Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp248 Wynn Macau Ltd249 Wynn Resorts Finance LLC / Wynn Resorts Capital Corp250 Wynn Resorts Ltd251 Yomiuri Land Co Ltd252 Zeal Network SE

Adult Entertainment1 Delecta Ltd2 RCI Hospitality Holdings Inc3 Scores Holding Co Inc4 tmc Content Group AG

Cannabis1 1933 Industries Inc2 Aleafia Health Inc3 Aphria Inc4 Aurora Cannabis Inc5 Body and Mind Inc6 C21 Investments Inc

MAY 2021 17

7 CannaRoyalty Corp8 Canopy Growth Corp9 Captor Capital Corp10 CLS Holdings USA Inc11 Cresco Labs Inc12 Cronos Group Inc13 Curaleaf Holdings Inc14 Decibel Cannabis Co Inc15 GB Sciences Inc16 Golden Leaf Holdings Inc17 Green Growth Brands Inc18 Green Thumb Industries Inc19 Halo Collective Inc20 Harvest Health & Recreation Inc21 HEXO Corp22 High Tide Inc23 Kaya Holdings Inc24 Luff Enterprises Ltd25 MediPharm Labs Corp26 MedMen Enterprises Inc27 Mojave Jane Brands Inc28 Nutritional High International Inc29 Organigram Holdings Inc30 Planet 13 Holdings Inc31 Players Network Inc32 Plus Products Inc33 Terra Tech Corp34 Tilray Inc35 Village Farms International Inc36 Wildflower Brands Inc

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Contact

The publication of this list of excluded companies is for information purposes only. This list of excluded companies may be used by Robeco only as described in more detail in Robeco’s Exclusion Policy. By putting a company on this list Robeco is not giving any general recommendation or investment advice not to invest in such company to any third party (i.e. any party which is not (1)a client of Robeco Direct or (2) a subsidiary or fund family of Robeco which applies Robeco’s Exclusion Policy). Third parties should make their own judgement on whether or not to invest in thesecompanies. Robeco accepts no responsibility whatsoever for any improper use of the information contained in the list of excluded companies or any action taken as a result thereof and disclaimsall liability in respect of such improper use.

Robeco Institutional Asset Management B.V.

Carola van Lamoen

Head of Sustainable Investing, Executive Director

Weena 850

3014 AD Rotterdam

The Netherlands

c.van.lamoen@robeco.nl

www.robeco.com