Market terminology L Labels Sustainability Labels indicate a product ́s level of sustainability in terms of human, social, economic and environmental aspects. Labeling products as sustainable is an important tool for more sustainable purchasing and investment decisions. Notable labels include: Label Country Key focus Short description Towards Sustainability (Febelfin) Belgium Sustainability - broad Requirements encompass exclusions and minimum performance standards. Most restrictive label in the European market with regards to exclusion criteria. Label ISR France Sustainability - broad Encompasses minimum performance criteria based on sustainability ratings, as well as the outperformance of KPIs in the environmental, social, governance and human rights pillars LuxFlag ESG Label Luxembourg Sustainability - broad Requirements are exclusively based on exclusion criteria Greenfin France Environmental - broad Requirements encompass both exclusion criteria, as well as minimum performance requirements M MiFID II – Sustainability amendment The MiFID II (Markets in Financial Instruments Directive II) EU regulation II is a European Regulation aiming to make European financial markets more efficient and transparent by increasing investor protection. It requires the integration of sustainability factors, risks and preferences into asset managers’ and wealth advisors’ operational requirements when engaging with clients. AllianzGI Sustainable Investing – Glossary 11