2014 ISS Policy Information

ISS Global Voting Principles

ISS’ Global Voting Principles, launched in December 2013, provide for four key tenets on accountability, stewardship, independence, and transparency, which underlie our approach to developing recommendations on management and shareholder proposals at publicly traded companies. The principles guide our work to assist institutional investors in meeting their fiduciary requirements, with respect to voting, by promoting long-term shareholder value creation and risk mitigation at their portfolio firms through support of responsible global corporate governance practices.

Regional Overview

New for 2014, ISS is providing overviews for the Americas, EMEA, and Asia-Pacific regions that detail key considerations for governance stakeholders operating in area markets. Included in the overviews are the latest on market trends, discussion of the regulatory environment, and a high-level overview of ISS' approach to evaluating management and, where applicable, shareholder proposals relating to corporate audits, board practices, management and director compensation, shareholder rights and takeover defenses, environmental and social issues, and mergers and acquisitions. Click below to download a regional overview.

Americas Regional Overview EMEA Regional Overview Asia-Pacific Regional Overview

2014 Policy Updates

Executive Summary of Key 2014 Updates and Policy Development Process 2014 U.S. Policy Updates 2014 Canadian Policy Updates 2014 European Policy Updates 2014 Asia-Pacific Policy Updates

See also ISS’ new Benchmark Consultation Period seeking feedback on policy approaches to certain topics that may guide longer term policy changes (beyond 2014).

Americas Region 2014 Voting Policies

Director Qualification/Compensation Bylaw FAQs

United States

2014 U.S. Proxy Voting Summary Guidelines (Updated 12 March 2014) 2014 U.S. Proxy Voting Concise Guidelines U.S. Compensation Policy FAQs (Updated 28 March 2014) 2014 U.S. Proxy Voting Policies and Procedures FAQ (Excluding Compensation-Related Questions) Industry Group US TSR Medians for Performance-Related Policies

Canada

2014 Canadian Proxy Voting Guidelines (TSX-Listed Companies) 2014 Canadian Proxy Voting Guidelines (Venture Companies) Canadian Compensation Policy FAQs

2014 Brazil Proxy Voting Guidelines

2014 Americas Regional Proxy Voting Summary Guidelines (covers markets not listed above)

EMEA Region 2014 Voting Policies

Europe

ISS' European Policy includes Eastern and Central Europe

2014 European Proxy Voting Summary Guidelines (Updated 4 April 2014)2014 French Equity-Based Compensation FAQ 2014 French Equity-Based Compensation FAQ (French Language) France Say-on-Pay Remuneration Changes FAQ

United Kingdom & Ireland

ISS' UK Corporate Governance Policy is based exclusively on the Policy and Voting Guidelines published by the National Association of Pension Funds (NAPF)

2013 ISS' U.K. Remuneration Guidance NAPF Corporate Governance Policy & Voting Guidelines NAPF Corporate Governance Policy & Voting Guidelines for Investment Companies NAPF Corporate Governance Policy & Voting Guidelines for Smaller Companies

2014 Russia & Kazakhstan Proxy Voting Guidelines

2014 South Africa Proxy Voting Guidelines

2014 EMEA Regional Proxy Voting Summary Guidelines (covers markets not listed above)

Asia-Pacific Region 2014 Voting Policies

2014 Japan Proxy Voting Summary Guidelines

2014 Japan Proxy Voting Summary Guidelines (Japanese/日本語)

2013 Australia Proxy Voting Guidelines

2013 New Zealand Proxy Voting Guidelines

2014 China Proxy Voting Guidelines

2014 Hong Kong Proxy Voting Guidelines

2014 Singapore Proxy Voting Guidelines

2014 Korea Proxy Voting Guidelines

2014 Taiwan Proxy Voting Guidelines

2014 Asia-Pacific Regional Proxy Voting Summary Guidelines (covers markets not listed above)

Specialty Policies