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Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

GBP Net assets attributable to

shareholders at beginning of the

year - - -

Share transactions

Issue of redeemable participating

shares during the year 5,591,904 6,290,506 20,011,938

Redemption of redeemable

participating shares during the year - - -

Net increase from share

transactions 5,591,904 6,290,506 20,011,938

(Decrease)/increase in net assets attributable to shareholders from

operations (46,534) (194,798) 246,566

Foreign currency translation 1(b) - - -

Net assets attributable to

shareholders at end of the year 5,545,370 6,095,708 20,258,504

Number of shares in issue at the beginning of the year

Class (EUR) A-dis - - -

Class (GBP) A-dis - - -

Number of shares issued during the year

Class (EUR) A-dis 300,000 300,000 -

Class (GBP) A-dis - - 1,500,000

- - -

Number of shares redeemed during the year

* Launched 4 September 2014.

** Launched 15 October 2014.

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the year ended 31 December 2014 (continued)

Notes

UBS (Irl) ETF plc Total USD Net assets attributable to

shareholders at beginning of the

year 255,160,533

Share transactions

Issue of redeemable participating

shares during the year 1,217,980,528

Redemption of redeemable

participating shares during the year (168,450,456)

Net increase from share

transactions 1,049,530,072

Increase in net assets attributable to

shareholders from operations 107,345,594

Foreign currency translation 1(b) (86,756,306)

Net assets attributable to

shareholders at end of the year 1,325,279,893

The accompanying notes are an integral part of these financial statements.

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the year ended 31 December 2013

MSCI USA Infrastructure 20/35 UCITS ETF USD

MSCI USA UCITS ETF

USD

MSCI USA Value UCITS ETF

USD Net assets attributable to

shareholders at beginning of the

year 5,079,575 5,568,169 5,405,661

Share transactions

Issue of redeemable participating

shares during the year 1,011,626 21,883,319 66,823,891

Redemption of redeemable

participating shares during the year (1,011,137) (12,044,477) (16,909,459)

Net increase from share transactions 489 9,838,842 49,914,432

Increase in net assets attributable to

shareholders from operations 510,328 3,559,202 4,990,540

Foreign currency translation 1(b) - - -

Net assets attributable to

shareholders at end of the year 5,590,392 18,966,213 60,310,633

Number of shares in issue at the beginning of the year

Class (USD) A-dis 40,000 80,000 60,000

Class (USD) I-dis 200 800 600

Number of shares issued during the year

Class (USD) A-dis - 360,000 157,000

Class (USD) I-dis 75 1,800 10,740

Number of shares redeemed during the year

Class (USD) A-dis (15,000) (110,000) (154,000)

Class (USD) I-dis - (1,700) (1,570)

Number of shares in issue at the end of the year

Class (USD) A-dis 25,000 330,000 63,000

Class (USD) I-dis 275 900 9,770

The accompanying notes are an integral part of these financial statements.

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the year ended 31 December 2013 (continued)

MSCI World Net assets attributable to

shareholders at beginning of the

year 13,575,087 5,545,904 2,271,088

Share transactions

Issue of redeemable participating

shares during the year 6,469,025 23,317,352 9,660,843

Redemption of redeemable

participating shares during the year (1,618,058) (7,104,408) (6,005,170) Net increase from share

transactions 4,850,967 16,212,944 3,655,674

Increase/(decrease) in net assets attributable to shareholders from

operations 3,346,435 3,541,299 (1,324,756)

Foreign currency translation 1(b) - - -

Net assets attributable to

shareholders at end of the year 21,772,489 25,300,147 4,602,005

Number of shares in issue at the beginning of the year

Class (USD) A-dis 200,000 240,000 150,000

Class (USD) I-dis 2,000 - 50

Number of shares issued during the year

Class (USD) A-dis 160,000 845,000 425,000

Class (USD) I-dis - - 480

Number of shares redeemed during the year

The accompanying notes are an integral part of these financial statements.

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the year ended 31 December 2013 (continued)

Solactive Global Net assets attributable to

shareholders at beginning of the

year 2,070,639 1,943,557 2,394,313

Share transactions

Issue of redeemable participating

shares during the year 2,237,510 1,321,804 -

Redemption of redeemable

participating shares during the year - (385,585) -

Net increase from share

transactions 2,237,510 936,219 -

Increase/(decrease) in net assets attributable to shareholders from

operations 605,113 (1,064,724) (699,564)

Foreign currency translation 1(b) - - -

Net assets attributable to

shareholders at end of the year 4,913,262 1,815,052 1,694,749

Number of shares in issue at the beginning of the year

Class (USD) A-dis 26,000 50,000 50,000

Class (USD) I-dis 185 125 125

Number of shares issued during the year

Class (USD) A-dis - 110,000 -

Class (USD) I-dis 250 75 -

Number of shares redeemed during the year

Class (USD) A-dis - (30,000) -

Class (USD) I-dis - (25) -

Number of shares in issue at the end of the year

Class (USD) A-dis 26,000 130,000 50,000

Class (USD) I-dis 435 175 125

The accompanying notes are an integral part of these financial statements.

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the year ended 31 December 2013 (continued)

MSCI Australia Net assets attributable to

shareholders at beginning of the

year - - -

Share transactions

Issue of redeemable participating

shares during the year 12,305,418 5,329,796 4,191,857

Redemption of redeemable

participating shares during the year - -

Net increase from share

transactions 12,305,418 5,329,796 4,191,857

Increase in net assets attributable to

shareholders from operations 254,169 146,108 118,092

Foreign currency translation 1(b) - - -

Net assets attributable to

shareholders at end of the year 12,559,587 5,475,904 4,309,949

Number of shares in issue at the beginning of the year

Class (AUD) A-acc - - -

Class (CHF) A-acc - - -

Class (EUR) A-acc - - -

Number of shares issued during the year

Class (AUD) A-acc 600,000 - -

Class (CHF) A-acc - 250,000 -

Class (EUR) A-acc - - 400,000

Number of shares redeemed during the year

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the year ended 31 December 2013 (continued)

Net assets attributable to

shareholders at beginning of the

year - - -

Share transactions

Issue of redeemable participating

shares during the year 39,802,450 8,361,027 7,899,714

Redemption of redeemable

participating shares during the year - (2,857,100) -

Net increase from share

transactions 39,802,450 5,503,927 7,899,714

Increase in net assets attributable to

shareholders from operations 1,334,307 556,817 787,818

Foreign currency translation 1(b) - - -

Net assets attributable to

shareholders at end of the year 41,136,757 6,060,744 8,687,532

Number of shares in issue at the beginning of the year

Class (CHF) A-acc - - -

Class (EUR) A-acc - - -

Class (GBP) A-acc - - -

Class (GBP) A-dis - - -

Number of shares issued during the year

Class (CHF) A-acc - - 550,000

Class (EUR) A-acc 2,700,000 - -

Class (GBP) A-acc - 400,000 -

Class (GBP) A-dis - 200,000 -

Number of shares redeemed during the year

Class (CHF) A-acc - - -

Class (EUR) A-acc - - -

Class (GBP) A-acc - (200,000) -

Class (GBP) A-dis - - -

Number of shares in issue at the end of the year

Class (CHF) A-acc - - 550,000

Class (EUR) A-acc 2,700,000 - -

Class (GBP) A-acc - 200,000 -

Class (GBP) A-dis - 200,000 -

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares

for the year ended 31 December 2013 (continued)

MSCI Australia Net assets attributable to

shareholders at beginning of the

year - -

43,853,993

Share transactions

Issue of redeemable participating

shares during the year 4,391,072 5,636,083 245,150,018

Redemption of redeemable

participating shares during the year (1,463,400) - (52,119,526)

Net increase from share

transactions 2,927,672 5,636,083 193,030,492

(Decrease)/increase in net assets attributable to shareholders from

operations (30,263) (62,127) 17,510,985

Foreign currency translation 1(b) - - 765,063

Net assets attributable to

shareholders at end of the year 2,897,409 5,573,956 255,160,533

Number of shares in issue at the beginning of the year

Class (GBP) A-acc - -

Class (GBP) A-dis - -

Class (USD) A-acc - -

Number of shares issued during the year

Class (GBP) A-acc 250,000 -

Class (GBP) A-dis 125,000 -

Class (USD) A-acc - 500,000

Number of shares redeemed during the year

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