Lyxor International Asset Management: Primary Market Subscriptions Suspension - Lyxor MSCI Russia UCITS ETF

NOTICE TO THE SHAREHOLDERS OF MULTI UNITS LUXEMBOURG - Lyxor MSCI Russia UCITS ETF (THE "Fund")

Terms not specifically defined herein shall have the same meaning as in the articles of incorporation and in the latest Prospectus of the Company or any supplement.

Luxembourg, March 3rd, 2022,

Dear Shareholder,

In order to protect the interests of investors in the Fund, the Board of Directors (the "Board") of the Company has taken the decision to suspend subscriptions for shares of the Fund with effect from and including 3 March 2022 until further notice. The decision is directly related to the current conflict between Ukraine and Russia which has severe impacts on market trading conditions.

In this view, the Board believes that it is in the interests of the Fund and investors that subscriptions in the Fund on the primary market be temporarily suspended with effect from 3 March 2022, pursuant to the Company's discretion under the Fund's prospectus. While subscription remains suspended, any primary market subscription request received will be rejected. Please note that this suspension of primary market subscriptions does not apply to secondary market dealing. As a result, purchases on stock exchanges on which the shares of the Fund are admitted to trading will remain possible, subject to each Stock Exchange policy.

Under the current situation, it is not possible to determine for how long primary market subscriptions will be suspended. The Board will closely monitor the situation in order to review the decision on an ongoing basis and reopen the Fund for subscriptions as soon as possible. Meanwhile, the Fund will be managed in accordance with its investment objective and its investment policy.

Updates will be posted to the Lyxoretf website www.lyxoretf.com.

Yours sincerely,

For the Board