WisdomTree Siegel Strategic Value Index™

Proprietary Volatility Controls

A Strategic Way to Hedge Against Potential Market Declines

TREND ANALYSIS

Trend Analysis leverages long- and short-term trends to capitalize on momentum when markets are moving higher and to reduce exposure when markets are declining.

RISK MANAGEMENT STRATEGY

The Index also includes a Risk Management Strategy that combines a 100% long Equity Strategy (the selected equity market sectors) with a 100% short position in a broad equity market index in an effort to hedge against market risk when the broad market is declining.

ADVANCED TREND ANALYSIS AND RISK MANAGEMENT

These innovative mechanisms built into the Index construction seek to maximize value
while minimizing downside risk across market conditions.

1. Positive Trend Analysis

When the Trend Analysis is positive, the Index is always in some combination of the Equity Strategy and Risk Management Strategy to seek a balanced return.

2. Negative Trend Analysis

When the Trend Analysis is negative, the Index allocates all assets into the Risk Management Strategy.

3. Low Volatility

When Index volatility is low, the Index allocates up to a maximum of 150% to the strategy; as Index volatility increases, a cash allocation is added to maintain the volatility target.

Important Notice

The WisdomTree Siegel Strategic Value Index™ (the “Index”) is the exclusive property of Canadian Imperial Bank of Commerce (Canadian Imperial Bank of Commerce, together with its affiliates, “CIBC”). CIBC contracted with affiliates of Bloomberg Finance L.P. (“Bloomberg”) to maintain and to make certain calculations related to the Index. “Canadian Imperial Bank of Commerce”, “CIBC”, and “WisdomTree Siegel Strategic Value Index™” (collectively, the “CIBC Marks”) are trademarks or service marks of CIBC, Jeremy Siegel (“Siegel”), senior research advisor to WisdomTree Investments, Inc. (“WisdomTree”), and WisdomTree each contributed to the development of the Index without considering the needs of any person, purchaser or trader of any product using the Index. “WisdomTree®” is a registered trademark of WisdomTree Investments, Inc. WisdomTree and Siegel have licensed certain rights to CIBC to use their names in connection with the Index and the inclusion of such names in the Index should not be considered or relied upon as a recommendation by WisdomTree or Siegel regarding the use or suitability of the Index. None of CIBC, WisdomTree, Bloomberg or Siegel are affiliated with each other or control or are controlled by each other. None of CIBC, Bloomberg, Siegel or WisdomTree or any other third-party licensor (collectively, the “Index Parties”) to CIBC is acting, or has been authorized to act, as an agent of any issuer of any product or transaction using the Index or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any products or transaction or provided investment advice or any other advice to any person, purchaser or trader of any product or transaction using the Index. The Index Parties are not the issuer of the products or transactions. Purchasers of any products neither acquire an interest in the Index nor enter into any relationship of any kind whatsoever with the Index Parties.

No Index Party has passed on the legality or suitability of, or the accuracy or adequacy of the descriptions and disclosures relating to, any product, including those disclosures with respect to the Index. The Index Parties make no representation whatsoever, whether express or implied, as to the advisability of purchasing, selling or holding any product linked to the Index, or the ability of the Index to meet its stated objectives, including meeting its target volatility. The Index Parties have no obligation to, and will not, take the needs of any person, purchaser or trader into consideration in determining, composing or calculating the Index. Nothing on this Site (the “Site”) constitutes an offer, a solicitation, an advice or a recommendation from any Index Party to purchase or sell the Index, which cannot be invested in directly, or any product linked to the Index. The information on this Site is provided solely for informational purposes to describe the principles and main financial characteristics of the Index. The information herein does not purport to summarize or explain the methodologies governing the Index. The Index rules define the calculation principles of the Index and the consequences of extraordinary events which may affect the Index. The Index Parties reserve the right to amend or adjust the Index methodology from time to time and accept no liability for any such amendment or adjustment. CIBC and Bloomberg are not under any obligation to continue the calculation, publication or dissemination of the Index and accept no liability for any suspension or interruption in the calculation thereof. CIBC and Bloomberg do not accept any liability in connection with the publication or use of the level of the Index at any given time.

CIBC may license the Index to one or more unaffiliated third party companies (each, a “Company”) for use in a product offered or issued by the Company (each, an “Index Product”). Index Products are not, in whole or in part, sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced by any Index Party or by any third party licensor of information to CIBC. CIBC may enter into derivative transactions or issue financial instruments linked to the Index. If you are considering investing in a product whose performance is based in whole or in part on the Index, you should refer to the full offering document for important information concerning such investment, including related risk factors. Such risks include, without limitation, risk of loss of some or all of your investment, risk of adverse or unanticipated market developments, risk of counterparty or issuer default and risk of liquidity. In addition, prior to making any investment in a product having the Index as underlying, you should make your own appraisal of the risks from a legal, tax and accounting perspective, without relying exclusively on the information contained herein, by consulting, if you deem it necessary, your own advisors in these matters or any other professional advisors.

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REGARDING HYPOTHETICAL SIMULATIONS

The Index was launched on December, 19, 2018.

Prospective investors should be aware that any hypothetical performance data presented is derived from the economic environment and the simulated historical data that prevailed in the period following the date of the relevant simulation. Accordingly, although the graphs and simulated results herein may be useful in order to gain some historical perspective, past performances of the Index and the hypothetical historical performance data presented should not be taken as indicative of future performance of the Index. It is impossible to predict whether the value of the Index will rise, fall or remain flat. The hypothetical historical performance data has not been verified by any independent third party. Hypothetical historical results have their inherent limitations. These hypothetical back-tested results are determined by means of a retroactive application of a back-testing model designed with the benefit of hindsight. Alternative modeling techniques or assumptions might produce significantly different results and prove to be more appropriate or accurate. Hypothetical back-tested results are neither an indicator nor guarantee of future returns or future performance. Actual results will vary, perhaps materially, from the hypothetical analysis.

The hypothetical examples, scenarios or figures herein are provided for illustrative purposes. They allow an understanding of the Index’s mechanism and how the Index would have performed during different market stages over previous years, excluding taxes and expenses. They are NOT an estimate or forecast of the future performance of the Index and have no contractual value. There is no assurance that a transaction will be entered into on any indicative terms. The hypothetical simulations of the Index described in this Site take into account certain maintenance costs that are built into the Index. Actual results including maintenance fees and the precise methodologies will vary, perhaps significantly, from the hypothetical historical data set forth herein.

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In calculating the level of the Index, the Index methodology deducts a maintenance fee of 0.20% per year, calculated daily. This fee will reduce the level of the Index. Furthermore, while the volatility control applied through the Index may result in less fluctuation in rates of return as compared to indices without volatility controls, it may also reduce the overall rate of return as compared to other indices not subject to volatility controls.

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