31 March 2011

PIMCO Euro Enhanced Short Maturity Source ETF

Bloomberg: PJS1 GR Reuters: PJS1 DE Investment objective The PIMCO Euro Enhanced Short Maturity Source ETF (the Fund) seeks to maximise current income consistent with the preservation of capital and a high degree of liquidity. Investor benets Direct access to PIMCOs xed income expertise Enhanced yield potential through active management Full transparency to underlying holdings High liquidity with trading available throughout the day Portfolio composition Number of holdings: 71

Sector diversication
Covered Bonds, 45.0% Corporates, 18.0% Agency/Supra, 14.0% Government, 14.0% ABS, 7.0% Cash & Other, 2.0%

S&P ratings breakdown

AAA, 68.5% AA+, 3.7% AA-, 0.3% AA, 4.2% A+, 6.0% A-, 3.5% A, 5.5% BBB+, 2.3% BBB, 3.4% BBB-, 2.3% Cash & Other, 0.4%

Fund overview The Fund is actively managed by PIMCO and invests primarily in short-term investment grade debt, denominated in EUR. The average portfolio duration will vary based on PIMCOs economic forecast and active investment process, and will not normally exceed one year. The Fund will disclose all portfolio holdings on a daily basis and will not use options, futures or swap agreements. Portfolio manager The Fund is actively managed by Andrew Bosomworth, who is head of portfolio management in PIMCOs Munich ofce and has 16 years investment experience. Monthly performance commentary The Fund returned 0.13% after fees in March, outperforming EONIA and typical money market funds. As of 31 March 2011, the estimated yield to maturity was 2.16%. The Funds performance beneted from exposure to the corporate sectors as spreads tightened and from holdings of select ABS securities. Top 5 holdings
20%

Ratings are sourced from Bloomberg, as at 13 April 2011. Where security does not have an S&P rating, the equivalent Moodys or Fitch rating has been used.

Maturity breakdown
50% 43% 40% 38%

30%

Security GERMAN TR 0% 05/11/11 /EUR/ BONOS Y O V/R 10/29/12 /EUR/ CERT DI C 0% 02/29/12 /EUR/ LLOYDS TSB 3.75% 11/17/11 /EUR/ CREDIT AG V/R 02/19/13 /EUR/

Sector Treasury Treasury Treasury Agency Corporate

Weight 5.0%

11% 10% 7% 0% 0-3 MO 3-6 MO 6-12 MO 1-2 Yrs 2-3 Yrs 0% 3+ Yrs

0%

4.1% 4.1% 3.2% 3.2%

Effective duration (yrs): Effective maturity (yrs):

0.53 0.55

Data: PIMCO, as at 31 March 2011. Effective duration is a way to measure the portfolios sensitivity to changes in interest rates. Effective maturity is a weighted average time to maturity of the securities in the portfolio, taking into account the likelihood of early redemption.

PIMCO Source ETFs PIMCO Source ETFs are open-ended funds that can be created or redeemed daily. They are traded and settled both OTC and on exchange and have market maker support, providing liquidity and robust bid-offer spreads. PIMCO Source ETFs invest physically. The securities selected by the portfolio manager are purchased by PIMCO on behalf of the Fund and held in custody by Brown Brothers Harriman & Co. The NAV of the Fund directly reects the assets held in custody. This procedure is the same whether the Fund is managed actively or passively. About Source Source is a specialist provider of ETPs with a unique approach and deep roots in the trading community. Our partners include PIMCO, BofA Merrill Lynch, Credit Suisse, Goldman Sachs, J.P. Morgan, Jane Street, Morgan Stanley, Nomura, Nyenburgh, Baader Bank, Banca IMI, BNP Commerzbank, , DekaBank, Euro Invest Bank, Exane, Flow Traders, HSBC, IMC, Knight Capital, LaBranche, Man GLG, Newedge, Optiver, RBS, SG Securities and UniCredit. Together, we recognise the value in creating a new, common standard for ETPs. Sources open architecture, multi-partner approach taps into this opportunity, delivering enhanced liquidity and increased transparency. Source is one of the fastest growing ETF providers in Europe, having raised over US$ 8.5 billion and having more than US$ 200 billion traded in its products since launch in April 20091. About PIMCO PIMCO is a global investment solutions provider, focused on managing risk and delivering returns for its clients. Founded in 1971 in Newport Beach, California, the rm now has assets under management of over US$ 1.2 trillion2. The rm manages retirement and other assets that reach millions of people around the world. Its institutional clients include pension funds, central banks, corporations, nancial advisors, foundations and endowments. PIMCO is renowned for its thought leadership and its 40 years of expertise in managing innovative xed income strategies. Its investment process produces both secular (three to ve year) and cyclical (short-term) macroeconomic views, which are combined with in-depth, bottom-up credit research and risk management.
1

Trading information Exchanges: Trading: Settlement: Minimum investment: Base currency: ISIN: Listing Bloomberg: Bloomberg (iNAV): Reuters: Reuters (iNAV): Trading currency: Fund information Issuer: Manager: Investment advisor: Custodian: Fund inception date: Management fee: Distribution treatment: Open-ended UCITS III compliant: Domicile: PIMCO Fixed Income Source ETFs plc PIMCO Global Advisors (Ireland) Limited PIMCO Europe Limited Brown Brothers Harriman & Co 11 January 2011 0.35% per annum, accrued daily, paid monthly Declared and distributed monthly Yes Yes Ireland EONIA PJS1 GR PJS1IN <Equity> PJS1.DE PJS1iv.OQ EUR Deutsche Brse 09:00 - 17:30 Frankfurt time T+2 1 Share EUR IE00B5ZR2157

As at 31 March 2011 2 As at 31 December 2010

Benchmark Index:

Disclaimer information This factsheet contains information about the PIMCO Source ETFs product range (each a Fund and collectively, the Funds). It is for discussion purposes only and is not for distribution to, or for the attention of, US or Canadian persons. This factsheet is not for use within any country or with respect to any person(s) where such use could constitute a violation of the applicable law. The relevant prospectus (including any supplements or simplied prospectuses thereto) documenting the issue of shares by the Funds can be downloaded from www.source.info. Without limitation, this factsheet does not constitute an offer or a recommendation to enter into any transaction. When making an investment decision, an investor should rely solely on the nal documentation and any prospectus relating to the transaction and not the information contained in this factsheet. Investment strategies involve numerous risks. Investors should consult their own business, tax, legal and accounting advisors with respect to a purchase of shares and should refrain from entering into any transaction unless they have fully understood the associated risks and have independently determined that the transaction is appropriate for them. In no way should Source UK Services Limited or PIMCO Europe Limited be deemed to be holding themselves out as nancial advisers or duciaries of the recipient hereof. Risk factors The investments of the Funds in securities are subject to normal market uctuations and other risks inherent in investing in securities. The value of investments and the income from them, and therefore the value of and income from shares relating to each Fund can go down as well as up and an investor may not get back the amount invested. Changes in exchange rates between currencies or the conversion from one currency to another may also cause the value of the investments to diminish or increase. There is no assurance that any Fund will achieve its investment objective. Past performance is not a guarantee or a reliable indicator of future results. The value of most bond funds and xed income securities are impacted by changes in interest rates and the risk that the managers investment decisions might not produce the desired results. Bonds and bond fund investments with longer durations tend to be more sensitive and more volatile than securities with shorter durations; bond prices generally fall as interest rates rise. The Funds may use derivative techniques for hedging purposes or as part of its investment strategy. While the prudent use of such derivatives can be benecial, use of derivatives may involve certain costs and risks. This document has been communicated by Source UK Services Limited, 14th Floor, One Angel Court, London EC2R 7HJ, authorised and regulated by the Financial Services Authority. 2011 Source UK Services Limited. All rights reserved.

Contact information - Source

invest@source.info

T. +44 (0)20 3370 1100

Contact information - Authorised participants

BofA Merrill Lynch

T. +44 (0)20 7996 1034 source@baml.com T. +44 (0)20 7774 5731 source@gs.com T. +44 (0)20 7779 2383 source@jpmorgan.com T. +44 (0) 20 3100 3400 etfs@janestreet.com T. +44 (0)20 7425 6362 source@morganstanley.com T. +44 (0)20 7103 8655 source@nomura.com

Goldman Sachs

J.P. Morgan

Jane Street

Morgan Stanley

Nomura

Contact information - Market makers

Nyenburgh Nyenburgh T. +31 (0)20 607 5065 scholtes@nyenburgh.com nienhuis@nyenburgh.com Other 17 market makers. For more info please visit www.source.info