CPP Investments is committed to timely and continuous disclosure of significant new investments and asset sales.   In addition, we publish an annual list of market exposures obtained through derivatives linked to market indexes. Derivatives are types of financial contracts where the value of that contract is dependent on an underlying asset or benchmark, such as an index.   This represents a point-in-time snapshot. These index exposures are comprised of many individual derivatives contracts (swaps, options, futures) that are constantly maturing and being renewed or changed. However, we believe that this form of disclosure best represents the Fund’s investment exposures at fiscal year-end.   KEY DISCLOSURE ELEMENTS   > Includes exposures to derivative securities that reference an index. These exposures are often referred to as synthetic. Voting rights are typically not attached to economic exposure attained through such derivative investments.   > Does not include positions managed by a third-party investment manager for which CPP Investments has no discretionary investment authority.   > Does not include exchange-traded funds (i.e. ETFs or Public Funds) which have been reported in the list on a direct basis.   Global Equity Index Exposure As of March 31, 2023
Index Exposure	Market Value (CAD $ millions)
CSI 300 Net Return Index	1733
CSI 500 Net Total Return Index	2276
Dow Jones Industrial Average	15
FTSE 100 Index	94
FTSE Taiwan RIC Capped Net Tax Index	461
FTSE Taiwan RIC Capped Price Return TWD Index	287
IBEX 35 Index	29
MSCI Brazil Net Total Return USD Index	2189
MSCI Daily TR Net Emerging Markets Philippines USD	243
MSCI Emerging Markets Indonesia Net Total Return USD Index	618
MSCI Emerging Markets Korea Net Total Return USD Index	1169
MSCI Emerging Markets Mexico Net Total Return USD Index	594
MSCI Emerging Markets Taiwan Net Total Return USD Index	2316
MSCI Emerging Markets Thailand Net Total Return USD Index	691
MSCI Emerging Net Total Return USD Index	16170
MSCI Europe ex UK Gross Return EUR Index	969
MSCI Hong Kong Net Total Return USD Index	712
MSCI Ireland Gross Return EUR Index	49
MSCI Japan Net Total Return USD Index	4747
MSCI Malaysia Net Total Return USD Index	577
MSCI New Zealand Net Total Return USD Index	85
MSCI Singapore Free Index	274
MSCI Singapore Net Total Return USD Index	473
MSCI USA Low Carbon Leaders Gross USD Index	169
MSCI USA LOW CARBON TARGET	169
Nikkei 225	42
S&P 500 Carbon Efficient Index (USD) TR	171
S&P/ASX 200	108
S&P/TSX 60 Index	1251
Swiss Market Index	32
Tokyo Stock Exchange Tokyo Price Index TOPIX	103