Common use of NOTES FOR TRUSTEE (CREATION T) Clause in Contracts

NOTES FOR TRUSTEE (CREATION T). C1.5.1 If an Authorized Participant has placed its Purchase Order with the Trustee on CREATION T using the Trustee’s electronic order entry system, by 6:00 p.m. NYC time the Trustee will send an email message to the Authorized Participant indicating the approximate total amount of Euro that must be deposited in the Deposit Account no later than 3:30 p.m. Frankfurt time on CREATION T+2. C2 CREATION T+1 C2.1 On CREATION T+1 the Trustee notifies the Authorized Participant of the final amount of Euro that must be deposited in the Deposit Account (the “Basket Euro Amount”) no later than 3:30 p.m. Frankfurt time on CREATION T+2 for creation of the Baskets on that day. C2.2 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to the Depository indicating the total Euro amount that the Depository will receive from the Authorized Participant on CREATION T+2. C3 CREATION T+2 C3.1 By 3:30 p.m. Frankfurt time (usually 9:30 a.m. NYC time), the Depository has received each Authorized Participant’s wire transfer of the Basket Euro Amount in the Deposit Account. C3.2 As of 3:30 p.m. Frankfurt time, the Depository notifies the Trustee that the Basket Euro Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910). C3.3 Prior to the delivery of the Baskets on CREATION T+2, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO DTC Charge). C3.4 At 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation from the Depository of receipt of the Basket Euro Amount. C3.5 By 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s instructions. C3.6 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive Baskets on CREATION T+2 for whom the Trustee has received confirmation from the Depository that the Basket Euro Amount has been received into the Deposit Account. C3.7 Following the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. C3.8 Following the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2, the Depository Euro system updates account records, recording the movements of Euro in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2. C3.9 Following the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2, the Depository Euro system automatically generates authenticated electronic messages constituting a statement of the activity affecting the Deposit Account (SWIFT MT940 or SWIFT MT950), (received only by the Trustee). C3.10 If the Authorized Participant fails to deliver Euro by 3:30 p.m. Frankfurt time on CREATION T+2, (a) the Trustee will apply a late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices, payable by the Authorized Participant. In the event any such late fees are assessed, the Trustee will coordinate with the Authorized Participant to arrange payment of such fees. Note: Both creation and redemption activities (delivery/receipts) time frames are subject to change based on depository requirements. REDEMPTION PROCESS OVERVIEW The following describes the process by which Baskets are redeemed. In summary, an order to redeem one or more Baskets is placed by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the Business Day that is the Order Date under the Trust Agreement (“REDEMPTION T”), and a Basket is redeemed by 3:30 p.m. Frankfurt time (usually 9:30 a.m. NYC time) on the second Business Day following REDEMPTION T, unless that day is not a Local Business Day, in which case redemption of the Basket shall be the next following day that is both a Business Day and a Local Business Day (“REDEMPTION T+2”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to the Authorized Participant Euro corresponding to the Shares delivered for redemption. R1 REDEMPTION T (REDEMPTION ORDER TRADE DATE) R1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets (a “Redemption Order”) in accordance with the following process.

NOTES FOR TRUSTEE (CREATION T). C1.5.1 If an Authorized Participant has placed its Purchase Order with the Trustee on CREATION T using the Trustee’s electronic order entry system, by 6:00 p.m. NYC time the Trustee will send an email message to the Authorized Participant indicating the approximate total amount of Euro that must be deposited in the Deposit Account no later than 3:30 p.m. Frankfurt time on CREATION T+2. C2 CREATION T+1 C2.1 On CREATION T+1 the Trustee notifies the Authorized Participant of the final amount of Euro that must be deposited in the Deposit Account (the “Basket Euro Amount”) no later than 3:30 p.m. Frankfurt time on CREATION T+2 for creation of the Baskets on that day. C2.2 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to the Depository indicating the total Euro amount that the Depository will receive from the Authorized Participant on CREATION T+2. C3 CREATION T+2 C3.1 By 3:30 p.m. Frankfurt time (usually 9:30 a.m. NYC time), the Depository has received each Authorized Participant’s wire transfer of the Basket Euro Amount in the Deposit Account. C3.2 As of 3:30 p.m. Frankfurt time, the Depository notifies the Trustee that the Basket Euro Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910). C3.3 Prior to the delivery of the Baskets on CREATION T+2, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO DTC Charge). C3.4 At 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation from the Depository of receipt of the Basket Euro Amount. C3.5 By 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s instructions. C3.6 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive Baskets on CREATION T+2 for whom the Trustee has received confirmation from the Depository that the Basket Euro Amount has been received into the Deposit Account. C3.7 Following the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. C3.8 Following the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2, the Depository Euro system updates account records, recording the movements of Euro in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2. C3.9 Following the close of business (usually 4:00 p.m. Frankfurt time) on CREATION T+2, the Depository Euro system automatically generates authenticated electronic messages constituting a statement of the activity affecting the Deposit Account (SWIFT MT940 or SWIFT MT950), (received only by the Trustee). C3.10 If the Authorized Participant fails to deliver Euro by 3:30 p.m. Frankfurt time on CREATION T+2, (a) the Trustee will apply a late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices, payable by the Authorized Participant. In the event any such late fees are assessed, the Trustee will coordinate with the Authorized Participant to arrange payment of such fees. Note: Both creation and redemption activities (delivery/receipts) time frames are subject to change based on depository requirements. REDEMPTION PROCESS OVERVIEW The following describes the process by which Baskets are redeemed. In summary, an order to redeem one or more Baskets is placed by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the Business Day that is the Order Date under the Trust Agreement (“REDEMPTION T”), and a Basket is redeemed by 3:30 p.m. Frankfurt time (usually 9:30 a.m. NYC time) on the second Business Day following REDEMPTION T, unless that day is not a Local Business Day, in which case redemption of the Basket shall be the next following day that is both a Business Day and a Local Business Day (“REDEMPTION T+2”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to the Authorized Participant Euro corresponding to the Shares delivered for redemption. R1 REDEMPTION T (REDEMPTION ORDER TRADE DATE) R1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets (a “Redemption Order”) in accordance with the following process.

NOTES FOR TRUSTEE (CREATION T). C1.5.1 If an Authorized Participant has placed its Purchase Order with the Trustee on CREATION T using the Trustee’s electronic order entry system, by 6:00 p.m. NYC time the Trustee will send an email message to the Authorized Participant indicating the approximate total amount of Euro British Pounds that must be deposited in the Deposit Account no later than 3:30 2:30 p.m. Frankfurt London time on CREATION T+2. C2 CREATION T+1 C2.1 On CREATION T+1 the Trustee notifies the Authorized Participant of the final amount of Euro British Pounds that must be deposited in the Deposit Account (the “Basket Euro British Pounds Amount”) no later than 3:30 2:30 p.m. Frankfurt London time on CREATION T+2 for creation of the Baskets on that day. C2.2 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to the Depository indicating the total Euro British Pounds amount that the Depository will receive from the Authorized Participant on CREATION T+2. C3 CREATION T+2 C3.1 By 3:30 2:30 p.m. Frankfurt London time (usually 9:30 a.m. NYC time), the Depository has received each Authorized Participant’s wire transfer of the Basket Euro British Pounds Amount in the Deposit Account. C3.2 As of 3:30 2:30 p.m. Frankfurt London time, the Depository notifies the Trustee that the Basket Euro British Pounds Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910). C3.3 Prior to the delivery of the Baskets on CREATION T+2, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO SPO/DTC Charge). C3.4 At 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro British Pounds Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation from the Depository of receipt of the Basket Euro British Pounds Amount. C3.5 By 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro British Pounds Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s instructions. C3.6 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive Baskets on CREATION T+2 for whom the Trustee has received confirmation from the Depository that the Basket Euro British Pounds Amount has been received into the Deposit Account. C3.7 Following the close of business (usually 4:00 p.m. Frankfurt London time) on CREATION T+2, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. C3.8 Following the close of business (usually 4:00 p.m. Frankfurt London time) on CREATION T+2, the Depository Euro British Pounds system updates account records, recording the movements of Euro British Pounds in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 4:00 p.m. Frankfurt London time) on CREATION T+2. C3.9 Following the close of business (usually 4:00 p.m. Frankfurt London time) on CREATION T+2, the Depository Euro British Pounds system automatically generates authenticated electronic messages constituting a statement of the activity affecting the Deposit Account (SWIFT MT940 or SWIFT MT950), (received only by the Trustee). C3.10 If the Authorized Participant fails to deliver Euro by 3:30 p.m. Frankfurt time on CREATION T+2, (a) the Trustee will apply a late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices, payable by the Authorized Participant. In the event any such late fees are assessed, the Trustee will coordinate with the Authorized Participant to arrange payment of such fees. Note: Both creation and redemption activities (delivery/receipts) time frames are subject to change based on depository requirements. REDEMPTION PROCESS OVERVIEW The following describes the process by which Baskets are redeemed. In summary, an order to redeem one or more Baskets is placed by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the Business Day that is the Order Date under the Trust Agreement (“REDEMPTION T”), and a Basket is redeemed by 3:30 p.m. Frankfurt time (usually 9:30 a.m. NYC time) on the second Business Day following REDEMPTION T, unless that day is not a Local Business Day, in which case redemption of the Basket shall be the next following day that is both a Business Day and a Local Business Day (“REDEMPTION T+2”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to the Authorized Participant Euro corresponding to the Shares delivered for redemption. R1 REDEMPTION T (REDEMPTION ORDER TRADE DATE) R1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets (a “Redemption Order”) in accordance with the following process.

NOTES FOR TRUSTEE (CREATION T). C1.5.1 If an Authorized Participant has placed its Purchase Order with the Trustee on CREATION T using the Trustee’s electronic order entry system, by 6:00 p.m. NYC time the Trustee will send an email message to the Authorized Participant indicating the approximate total amount of Euro that must be deposited in the Deposit Account no later than 3:30 2:15 p.m. Frankfurt London time on CREATION T+2. C2 CREATION T+1 C2.1 On CREATION T+1 the Trustee notifies the Authorized Participant of the final amount of Euro that must be deposited in the Deposit Account (the “Basket Euro Amount”) no later than 3:30 2:15 p.m. Frankfurt London time on CREATION T+2 for creation of the Baskets on that day. C2.2 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to the Depository indicating the total Euro amount that the Depository will receive from the Authorized Participant on CREATION T+2. C3 CREATION T+2 C3.1 By 3:30 2:15 p.m. Frankfurt London time (usually 9:30 9:15 a.m. NYC time), the Depository has received each Authorized Participant’s wire transfer of the Basket Euro Amount in the Deposit Account. C3.2 As of 3:30 2:15 p.m. Frankfurt London time, the Depository notifies the Trustee that the Basket Euro Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910). C3.3 Prior to the delivery of the Baskets on CREATION T+2, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO DTC Charge). C3.4 At 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation from the Depository of receipt of the Basket Euro Amount. C3.5 By 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Euro Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s instructions. C3.6 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive Baskets on CREATION T+2 for whom the Trustee has received confirmation from the Depository that the Basket Euro Amount has been received into the Deposit Account. C3.7 Following the close of business (usually 4:00 3:30 p.m. Frankfurt London time) on CREATION T+2, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. C3.8 Following the close of business (usually 4:00 3:30 p.m. Frankfurt London time) on CREATION T+2, the Depository Euro system updates account records, recording the movements of Euro in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 4:00 3:30 p.m. Frankfurt London time) on CREATION T+2. C3.9 Following the close of business (usually 4:00 3:30 p.m. Frankfurt London time) on CREATION T+2, the Depository Euro system automatically generates authenticated electronic messages constituting a statement of the activity affecting the Deposit Account (SWIFT MT940 or SWIFT MT950), (received only by the Trustee). C3.10 If the Authorized Participant fails to deliver Euro by 3:30 2:30 p.m. Frankfurt London time on CREATION T+2, (a) the Trustee will apply a late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices, payable by the Authorized Participant. In the event any such late fees are assessed, the Trustee will coordinate with the Authorized Participant to arrange payment of such fees. Note: Both creation and redemption activities (delivery/receipts) time frames are subject to change based on depository requirements. REDEMPTION PROCESS OVERVIEW The following describes the process by which Baskets are redeemed. In summary, an order to redeem one or more Baskets is placed by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the Business Day that is the Order Date under the Trust Agreement (“REDEMPTION T”), and a Basket is redeemed by 3:30 2:00 p.m. Frankfurt London time (usually 9:30 9:00 a.m. NYC time) on the second Business Day following REDEMPTION T, unless that day is not a Local Business Day, in which case redemption of the Basket shall be the next following day that is both a Business Day and a Local Business Day T (“REDEMPTION T+2”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to the Authorized Participant Euro corresponding to the Shares delivered for redemption. R1 REDEMPTION T (REDEMPTION ORDER TRADE DATE) R1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets (a “Redemption Order”) in accordance with the following process.