Methodology Change | Solactive Battery Value-Chain Index | Effective Date 06/11/2025

Today, on the 23/10/2025, Solactive announces the following changes to the methodology of the following index (the ‘Affected Index’):

Rationale for Methodology Change

Solactive has determined that due to the evolvement of the Battery Value-Chain industry a change to the Data Provider 1 among changes to the determination of mining companies provided by Data Provider 2 and a change to the ADV screening to allow for IPOs to be included in the index is necessary to ensure the thematic integrity of the index. The proposed changes are listed below.

Changes to the Index Guideline

The following Methodology changes will be implemented in the following points of the Index Guideline (ordered in accordance with the numbering of the affected sections):

From:

2.1.1. Selection of Energy Storage Technology Providers

On each Selection Day that occurs in the month of May and November, the INDEX ADMINISTRATOR shall

determine the list of Energy Storage Technology Providers that shall be considered for inclusion in the

Index Universe in accordance with the methodology described below:

1. The INDEX ADMINISTRATOR shall download all available projects from the Clean Horizon’s Energy

Storage Source (CHESS) database driven website through the web url: https://www.cleanhorizon.com/login.

2. The INDEX ADMINISTRATOR shall then extract and aggregate the Energy Storage Technology Provider

companies following the order:

1. Select the projects that are classified as “Electrochemical“ under the column “Technology Category”;
2. Select the projects with the value more or equal to 1 under the column “Energy Capacity (MWh)”;
3. Select all the companies that are present under the column “Energy Storage Technology Manufacturer”;
4. Check if the company’s operations in the energy storage business were not discontinued.

(…)

2.1.2. Selection of Mining Companies

On each Selection Day that occurs in the month of May, the INDEX ADMINISTRATOR shall receive the list of mining Producers from the DATA PROVIDER II that are producing Lithium.

The INDEX ADMINISTRATOR shall include in the Index Universe the Securities of those MINING COMPANIES that are classified as “BG” (battery grade) under the column “Grade” and that has its primary listing on any of the Eligible Exchanges.

(…)

2.2 Selection of the Index Components

(…)

1. its Three Month Average Daily Value Traded, as of the Selection Day, is at least USD 1,000,000; and

(…)

6. Definitions

(…)

“DATA PROVIDER I” is GlobalData Plc. For more information, please visit: http://globaldata.com/.

“ENERGY STORAGE TECHNOLOGY PROVIDER” means, in respect of a SECURITY, the relevant company that is classified as ‘Energy Storage Technology Manufacturer’ (or any successive definition thereof) by DATA PROVIDER I.

(…)

To:

2.1.1        Selection of Energy Storage Technology Providers

On each Selection Day that occurs in the month of May and November, the INDEX ADMINISTRATOR shall determine the list of Energy Storage Technology Providers that shall be considered for inclusion in the Index Universe in accordance with the methodology described below:

1. The INDEX ADMINISTRATOR shall receive from DATA PROVIDER I the energy storage projects database including all companies that have at least 5 MW of installed active capacity, and the EV battery fitment database showing aggregated installed battery capacity per company.

The INDEX ADMINISTRATOR shall then extract and aggregate the Energy Storage Technology Providers in the following order and for each database:

1. Select the Energy Storage Technology Providers from the energy storage projects database that fulfil the following requirements:

• At least 5 MW of active installed capacity and a greater than zero capacity pipeline;

And

• At least 50% of installed capacity needs to come from Battery-Related Technologies.

1. Check if the company’s operations in the energy storage business were not discontinued.

Or

1. Select the Energy Storage Technology Providers from the EV battery fitment database that fulfill the following requirement:

• At least 500 MW of installed EV battery capacity at the current calendar year.

1. Check if the company’s operations in the energy storage business were not discontinued.
2. Finally, the INDEX ADMINISTRATOR shall include in the Index Universe the Securities of those ENERGY STORAGE TECHNOLOGY PROVIDERS that has its primary listing on any of the Eligible Exchanges. If the ENERGY STORAGE TECHNOLOGY PROVIDER is a non-publicly listed subsidiary, then such a Security of the parent company is included.

2.1.2.       Selection of Mining Companies

On each Selection Day that occurs in the month of May, the INDEX ADMINISTRATOR shall receive the list of mining Producers from the DATA PROVIDER II that produce Lithium.

The INDEX ADMINISTRATOR shall include in the Index Universe the Securities of those MINING COMPANIES that are classified as “BG” (battery grade) under the column “Grade” and that has its primary listing on any of the Eligible Exchanges. For clarification, if for any lithium project both battery grade and technical grade lithium is produced, then such MINING COMPANY shall be eligible if at least 75% of the lithium produced is battery grade.

(…)

2.2 Selection of the Index Components

(…)

1. its Three Month Average Daily Value Traded, as of the Selection Day, is at least USD 1,000,000. If an IPO / spin-off has less than 3 months trading history on a Selection Day, then it should have at least 20 business days of trading history and each day with at least USD 1mn daily value traded in order to be eligible for inclusion into the index. In case a security was removed from the index on the immediately preceding Rebalance Day due to its liquidity, its underlying liquidity must have substantially and sustainably improved in order to qualify for inclusion on such following Selection Day as measured by the following: On a Selection Day and each of the 59 trading days preceding the Selection Day, the security must have a five-day average daily traded value of at least USD 1,000,000. Otherwise such security does not qualify for inclusion into the index on such Selection Day; and

(…)

6. Definitions

(…)

“BATTERY-RELATED TECHNOLOGIES” means certain types of electrochemical technologies that include, but are not limited to, Flow Batteries, Lead-acid Batteries, Lithium-ion Batteries, Nickel-based Batteries, and Sodium-based Batteries.

“DATA PROVIDER I” is GlobalData Plc. For more information, please visit: http://globaldata.com/.

“ENERGY STORAGE TECHNOLOGY PROVIDER” means, in respect of a SECURITY, the relevant company that is identified as a battery energy storage technology manufacturer through battery installed capacity in battery energy storage projects and/or fitment in electric vehicles by DATA PROVIDER I.

(…)  

Defined terms used in this announcement, but not defined herein, have the meaning assigned to them in the respective index guideline of the Affected Indices. The amended version of the index guideline will be available on the effective date.