<SEC-DOCUMENT>0001193125-17-059219.txt : 20170227
<SEC-HEADER>0001193125-17-059219.hdr.sgml : 20170227
<ACCEPTANCE-DATETIME>20170227170207
ACCESSION NUMBER:		0001193125-17-059219
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20161231
FILED AS OF DATE:		20170227
DATE AS OF CHANGE:		20170227
EFFECTIVENESS DATE:		20170227

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund
		CENTRAL INDEX KEY:			0001322435
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21745
		FILM NUMBER:		17642812

	BUSINESS ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>d344362dncsr.htm
<DESCRIPTION>EATON VANCE TAX-MANAGED GLOBAL BUY-WRITE OPPORTUNITIES FUND
<TEXT>
<HTML><HEAD>
<TITLE>Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>Form <FONT
STYLE="white-space:nowrap">N-CSR</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFIED
SHAREHOLDER REPORT OF REGISTERED </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>MANAGEMENT INVESTMENT COMPANIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Investment Company Act File Number: <FONT STYLE="white-space:nowrap">811-21745</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Charter) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Two International Place, Boston, Massachusetts 02110 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of Principal Executive Offices) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Maureen A.
Gemma </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Two International Place, Boston, Massachusetts 02110 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name and Address of Agent for Services) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(617) <FONT
STYLE="white-space:nowrap">482-8260</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s Telephone Number) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>December&nbsp;31 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Date
of Fiscal Year End </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>December&nbsp;31, 2016 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Date of Reporting Period </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1. Reports to Stockholders </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g321638g57p32.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="line-height:4.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:4.50pt solid #547bcc">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:34.5pt; font-family:Times New Roman"><FONT COLOR="#333333">Eaton Vance </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:34.5pt; font-family:Times New Roman"><FONT
 COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund (</FONT><FONT STYLE="font-family:arial" COLOR="#547bcc">ETW</FONT><FONT STYLE="font-family:Times New Roman" COLOR="#547bcc">) </FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:24pt; font-family:arial"><FONT COLOR="#333333">Annual Report </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial">December 31, 2016 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #333333">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="font-family:; font-size:18pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">
<PRE></PRE>
 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="font-size:120pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:120pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#7695d6"><B>Commodity Futures Trading Commission Registration.</B></FONT><FONT STYLE="font-family:arial"> Effective
December&nbsp;31, 2012, the Commodity Futures Trading Commission (&#147;CFTC&#148;) adopted certain regulatory changes that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level
of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. The Fund has claimed an exclusion from the definition of the term
&#147;commodity pool operator&#148; under the Commodity Exchange Act. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the
Fund&#146;s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#7695d6"><B>Managed Distribution Plan.</B></FONT><FONT STYLE="font-family:arial"> Pursuant to an exemptive order issued by the
Securities and Exchange Commission (Order), the Fund is authorized to distribute long-term capital gains to shareholders more frequently than once per year. Pursuant to the Order, the Fund&#146;s Board of Trustees approved a Managed Distribution
Plan (MDP) pursuant to which the Fund makes monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund
currently distributes monthly cash distributions equal to $0.0973 per share in accordance with the MDP. You should not draw any conclusions about the Fund&#146;s investment performance from the amount of these distributions or from the terms of the
MDP. The MDP will be subject to regular periodic review by the Fund&#146;s Board of Trustees and the Board may amend or terminate the MDP at any time without prior notice to Fund shareholders. However, at this time there are no reasonably
foreseeable circumstances that might cause the termination of the MDP. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund may distribute more than its net investment income and net realized capital gains
and, therefore, a distribution may include a return of capital. A return of capital distribution does not necessarily reflect the Fund&#146;s investment performance and should not be confused with &#147;yield&#148; or &#147;income.&#148; With each
distribution, the Fund will issue a notice to shareholders and a press release containing information about the amount and sources of the distribution and other related information. The amounts and sources of distributions contained in the notice
and press release are only estimates and are not provided for tax purposes. The amounts and sources of the Fund&#146;s distributions for tax purposes will be reported to shareholders on Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for each
calendar year. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#333333"><B>Fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository
institution. Shares are subject to investment risks, including possible loss of principal invested. </B></FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><B>Annual Report </B>December&nbsp;31, 2016 </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:18pt; font-family:arial">Eaton Vance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund
</FONT></P> <P STYLE="margin-top:36pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:arial"><B>Table of Contents </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="70%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:11pt">


<TR>
<TD WIDTH="92%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Management&#146;s Discussion of Fund Performance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Performance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Fund Profile</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Fund Snapshot</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Endnotes and Additional Disclosures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Financial Statements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Report of Independent Registered Public Accounting Firm</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Federal Tax Information</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Dividend Reinvestment Plan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Management and Organization</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:arial">Important Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December&nbsp;31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Management&#146;s Discussion of Fund Performance<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Economic and Market Conditions </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial">With U.S. stock markets leading the way, most global equity markets delivered gains for the 12-month period ended December&nbsp;31, 2016. Continued low interest rates and
a rebound in oil prices were countered by geopolitical tensions, concerns about sluggish economic growth and uncertainties in the aftermath of the U.S. presidential election. </P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial">Global equity markets opened the period in a sharp downturn amid worries about falling oil prices, declining interest rates and slowing global growth, particularly in
China. The pullback began in early January 2016 and continued into mid-February 2016, when stocks turned around and soon overcame the earlier losses. Coinciding with the rebound was a reversal in crude oil prices, which rose following a prolonged
decline. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial">In late June 2016, Britain&#146;s &#147;Brexit&#148; vote to leave the European Union sent stocks into a two-day tailspin. However, equity markets quickly
rallied, recovering the lost ground. In the U.S., major stock indexes reached multiple record highs during July and August 2016. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial">Global equity markets retreated in
late August 2016, as oil prices declined and investors worried about a possible interest rate increase. The U.S. Federal Reserve&#146;s (the Fed&#146;s) decision at its September 2016 meeting to leave rates unchanged, along with an agreement by the
Organization of the Petroleum Exporting Countries (OPEC) to curb oil production, sent stocks briefly higher. In November 2016, U.S. stocks rallied sharply following Donald Trump&#146;s victory in the U.S. presidential election. The rally continued
into December 2016 with financial stocks and the aerospace&nbsp;&amp; defense industry leading the way. Financial stocks got another boost in mid-December 2016 when the Fed raised its benchmark interest rate amid positive economic reports. However,
the U.S. rally was not shared by other global markets, most of which lagged in the final month amid worries about future trade and immigration policy under President-elect Trump. </P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial">For the 12-month period, the MSCI World Index,<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> a proxy for global equities, returned 7.51%. The MSCI EAFE Index, an
index of developed-market international equities, returned 1.00%, while the MSCI Emerging Markets Index returned 11.19%. In the U.S., the blue-chip Dow Jones Industrial Average advanced 16.50%, while the broader U.S. equity market, as represented by
the S&amp;P 500 Index, gained 11.96%. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Fund Performance </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial">For the 12-month period ended December&nbsp;31, 2016, Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (the Fund) had a total return of 3.46% at net asset
value (NAV), underperforming the 11.96% return of its benchmark, the S&amp;P 500 Index (the Index), the 7.07% return of the CBOE S&amp;P 500 BuyWrite Index and the 5.81% return of the
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial">
CBOE NASDAQ-100 BuyWrite Index, but outperforming the 0.27% return of the FTSE Eurotop 100 Index in U.S. dollars. The Fund&#146;s common stock portfolio underperformed the Index during the
period, and the Fund&#146;s options overlay strategy detracted from performance versus the Index as well. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial">The Fund employs an options strategy of writing (selling)
stock index call options on a portion of its underlying common stock portfolio. The options strategy, which is designed to help limit the Fund&#146;s exposure to market volatility and to provide current income, proved disadvantageous during a
12-month period marked by generally low volatility in the equity markets and a strong market upturn in late June 2016, when equity markets rallied back sharply after initially declining post-Brexit (Great Britain&#146;s June&nbsp;23 vote to leave
the European Union). When the market turned upward, some of the Fund&#146;s writing of call options on U.S. and overseas indexes ended in losses and detracted from performance versus the Index. </P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial">Within the Fund&#146;s common stock portfolio, exposure to European stocks in general hurt Fund performance versus the U.S.-centric Index, due to the underperformance of
European stocks overall compared with U.S. equities, as well as a strengthening U.S. dollar during the period that hurt the returns of European stocks when converted into dollars. More specifically, stock selection in the financials, health care and
consumer staples sectors detracted from Fund performance relative to the Index. In financials, underweighting U.S. bank JPMorgan Chase&nbsp;&amp; Co., relative to the Index, hurt performance vs. the Index, as the stock benefited from somewhat higher
interest rates and the perception that the regulatory environment for banks would improve under the incoming U.S. administration. Elsewhere in the sector, the Fund&#146;s out-of-Index holding in Italian bank Intesa Sanpaolo SpA. declined on weak
European economic growth and concern about the effects of Brexit on the European financial system. In health care, the Fund&#146;s out-of-Index positions in Swiss pharmaceutical firms Roche Holding AG PC and Novartis AG both declined in price, due
in part to American news stories about high drug prices, which raised concerns that a new U.S. administration might put pricing pressure on the firms&#146; American business. </P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial">In contrast, Fund performance versus the Index was helped by stock selection in the materials sector, where the Fund&#146;s out-of-Index holdings in Anglo-Swiss mining
firm Glencore PLC and British-Australian mining company Rio Tinto PLC both benefited from rising commodity prices that drove strong stock performance. Individual holdings in other sectors that rose in price and contributed to Fund performance
relative to the Index included out-of-Index positions in German industrial conglomerate Siemens AG and U.K.-based semiconductor firm ARM Holdings PLC. By period-end, ARM Holdings had been acquired by another firm and was thus no longer held in the
portfolio. </P></DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><I>See Endnotes and Additional Disclosures in this report. </I></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><I>Past performance is
no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested and include management fees and other expenses.
Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment
return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance less than or equal to one year is cumulative. Performance is for the stated time period only; due to market
volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer to eatonvance.com. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December&nbsp;31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Performance<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Portfolio Managers</B> Michael A. Allison, CFA and Thomas
C. Seto </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="59%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>% Average Annual Total Returns</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Inception&nbsp;Date</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>One&nbsp;Year</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Five&nbsp;Years</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Ten&nbsp;Years</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">Fund at NAV</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">09/30/2005</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.46</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.89</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.27</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px dotted #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">Fund at Market Price</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000" ALIGN="right">0.14</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000" ALIGN="right">10.31</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000" ALIGN="right">4.23</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px dotted #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11.96</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14.64</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.94</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">FTSE Eurotop 100 Index</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">CBOE S&amp;P 500 BuyWrite Index</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.07</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">CBOE NASDAQ&#150;100 BuyWrite Index</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.06</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>% Premium/Discount to NAV<SUP STYLE="font-size:85%; vertical-align:top">3</SUP></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&#150;5.98</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Distributions<SUP STYLE="font-size:85%; vertical-align:top">4</SUP></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">Total Distributions per share for the period</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">Distribution Rate at NAV</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.90</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.69em; text-indent:-1.13em; font-size:8pt; font-family:arial">Distribution Rate at Market Price</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11.59</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><I>See Endnotes and Additional Disclosures in this report. </I></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><I>Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or market
price (as applicable) with all distributions reinvested and include management fees and other expenses. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market
conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance less
than or equal to one year is cumulative. Performance is for the stated time period only; due to market volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer
to eatonvance.com. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December&nbsp;31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Fund Profile </FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Sector Allocation (% of total investments)<SUP STYLE="font-size:85%; vertical-align:top">5</SUP>
</FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g321638tax1.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Country Allocation (% of total investments)<SUP STYLE="font-size:85%; vertical-align:top">5</SUP> </FONT></P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g321638tax2.jpg" ALT="LOGO">
 </P></DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Top 10 Holdings (% of total investments)<SUP STYLE="font-size:85%; vertical-align:top">5</SUP>
</FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Apple, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Microsoft Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Amazon.com, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nestle SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Alphabet, Inc., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Facebook, Inc., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Alphabet, Inc., Class C</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Roche Holding AG PC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Comcast Corp., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Novartis AG</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">1.4</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Total</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20.7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> </DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><I>See Endnotes and Additional Disclosures in this
report. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December&nbsp;31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Fund Snapshot </FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="83%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"><B>Objective</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">The primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"><B>Strategy</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">The Fund invests in a diversified portfolio of common stocks and writes call options on one or more U.S. and foreign indices on a substantial portion of the value of its common stock portfolio to generate current earnings from
the option premium. The Fund evaluates returns on an after tax basis and seeks to minimize and defer federal income taxes incurred by shareholders in connection with their investment in the
Fund.</TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="63%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Options&nbsp;Strategy</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">Write Index Covered Calls</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>Equity Benchmarks<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center">S&amp;P 500 Index</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">FTSE Eurotop 100 Index</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>Morningstar Category</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">World Stock</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>Distribution Frequency</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">Monthly</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT COLOR="#547bcc">Common Stock Portfolio</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>Positions Held</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">370</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>% US / Non-US</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">54.0/46.0</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>Average Market Cap</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">$144.2 Billion</P></TD></TR>

<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT COLOR="#547bcc">Call Options Written</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>% of Stock Portfolio</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">94%</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>Average&nbsp;Days&nbsp;to&nbsp;Expiration</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">17 days</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><B>% Out of the Money</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center">0.8%</P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The following terms as used in the Fund snapshot: </P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Average Market Cap:</B> An indicator of the size of the companies in which the Fund invests and is the sum of each security&#146;s weight in the portfolio multiplied
by its market cap. Market Cap is determined by multiplying the price of a share of a company&#146;s common stock by the number of shares outstanding. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Call
Option:</B> For an index call option, the buyer has the right to receive from the seller (or writer) a cash payment at the option expiration date equal to any positive difference between the value of the index at contract expiration and the exercise
price. The buyer of a call option makes a cash payment (premium) to the seller (writer) of the option upon entering into the option contract. <B> </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Covered Call
Strategy:</B> A strategy of owning a portfolio of common stocks and writing call options on all or a portion of such stocks to generate current earnings from option premium. </P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Out of the Money:</B> For a call option on an index, the extent to which the exercise price of the option exceeds the current price of the value of the index.
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial">&nbsp;&nbsp;&nbsp;&nbsp;
</P></DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><I>See Endnotes and Additional Disclosures in this
report. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December&nbsp;31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Endnotes and Additional Disclosures </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD ALIGN="left" VALIGN="top"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>The views expressed in this report are those of the portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject
to change at any time based upon market or other conditions, and Eaton Vance and the Fund(s) disclaim any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on
many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as &#147;forward looking statements&#148;. The Fund&#146;s
actual future results may differ significantly from those stated in any forward looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund
shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund&#146;s filings with the Securities and Exchange Commission. </TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP></TD>
<TD ALIGN="left" VALIGN="top"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>MSCI World Index is an unmanaged index of equity securities in the developed markets. MSCI EAFE Index is an unmanaged index of equities in the developed markets,
excluding the U.S. and Canada. MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI
provides no warranties, has not prepared or approved this report, and has no liability hereunder. Dow Jones Industrial Average is a price- weighted average of 30 blue-chip stocks that are generally the leaders in their industry. S&amp;P 500 Index is
an unmanaged index of large-cap stocks commonly used as a measure of U.S. stock market performance. FTSE Eurotop 100 Index is a tradable index designed to represent the performance of the 100 most highly capitalized blue-chip companies in Europe.
The return for the FTSE Eurotop 100 Index is calculated in U.S. dollars. CBOE S&amp;P 500 BuyWrite Index measures the performance of a hypothetical buy-write strategy on the S&amp;P 500 Index. CBOE NASDAQ-100 BuyWrite Index measures the performance
of a theoretical portfolio that owns stocks included in the NASDAQ-100 Index and writes (sells) NASDAQ-100 Index covered call options. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions,
expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Performance since inception for an index, if presented, is the performance since the Fund&#146;s or oldest share class&#146; inception, as applicable.
</TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP></TD>
<TD ALIGN="left" VALIGN="top"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>The shares of the Fund often trade at a discount or premium from their net asset value. The discount or premium of the Fund may vary over time and may be higher or
lower than what is quoted in this report. For up-to-date premium/discount information, please refer to http://eatonvance.com/closedend.
</TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Distribution Rate is based on the Fund&#146;s last regular distribution per share in the period (annualized) divided by the Fund&#146;s NAV or market price at the end of the period. The Fund&#146;s distributions may
be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend
distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a)&nbsp;posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the
calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of
Distributions on the Fund&#146;s webpage available at eatonvance.com. In recent years, a significant portion of the Fund&#146;s distributions has been characterized as a return of capital. The Fund&#146;s distributions are determined by the
investment adviser based on its current assessment of the Fund&#146;s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings,
realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change. </TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">5</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Depictions do not reflect the Fund&#146;s option positions. Excludes cash and cash equivalents. </TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Fund snapshot and profile subject to change due to active management. </TD></TR></TABLE></DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">6</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>


<TR STYLE="font-family:arial; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="8">Common Stocks &#151; 100.4%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Aerospace&nbsp;&amp;
Defense &#151; 1.8%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Airbus Group SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97,477</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,438,226</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">General Dynamics Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,866</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,185,484</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">L3 Technologies, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,966</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">907,488</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Northrop Grumman Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,028</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,030,052</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Raytheon Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33,521</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,759,982</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Rolls-Royce Holdings PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">306,584</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,518,127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Textron, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30,061</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,459,762</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>20,299,121</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Air Freight&nbsp;&amp;
Logistics &#151; 0.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Deutsche Post AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61,060</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,002,465</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Expeditors International of Washington, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33,631</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,781,098</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">United Parcel Service, Inc., Class&nbsp;B</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">331,768</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4,115,331</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Airlines &#151;
0.2%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Alaska Air Group, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,774</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,488,357</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">International Consolidated Airlines Group SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65,562</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">355,241</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,843,598</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Auto Components &#151;
0.7%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Aisin Seiki Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">441,348</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">BorgWarner, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,315</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">446,264</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Compagnie Generale des Etablissements Michelin, Class&nbsp;B</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,920,919</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Denso Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,608,364</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Toyoda Gosei Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">298,741</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Toyota Industries Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">304,290</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Yokohama Rubber Co., Ltd. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,349,581</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8,369,507</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Automobiles &#151;
1.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Daimler AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">132,059</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">9,800,833</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Ford Motor Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47,101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">571,335</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Honda Motor Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,600</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,214,524</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Isuzu Motors, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,258,129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mazda Motor Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">797,915</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Toyota Motor Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,260,511</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Volkswagen AG, PFC Shares</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,332</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">606,121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>15,509,368</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE>
</DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Banks &#151;
6.6%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Banco Bilbao Vizcaya Argentaria SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,559</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">280,063</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Banco Santander SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,466,812</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,630,754</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Bank of America Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,105,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">BNP Paribas SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145,540</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,261,862</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Citigroup, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,022</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">595,607</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Credit Agricole SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">243,088</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,009,109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Danske Bank A/S</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77,886</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,356,343</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Fifth Third Bancorp</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112,006</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,020,802</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">First Horizon National Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,470</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">389,595</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hiroshima Bank, Ltd. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">405,404</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">HSBC Holdings PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">995,388</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,031,398</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Huntington Bancshares, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">307,053</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,059,241</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">ING Groep NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">426,434</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,003,657</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Intesa Sanpaolo SpA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,091,453</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,297,946</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">JPMorgan Chase&nbsp;&amp; Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47,825</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,126,819</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">KBC Group NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,722</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,403,942</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">KeyCorp</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">218,919</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,999,650</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Lloyds Banking Group PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,918,446</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,473,129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">PNC Financial Services Group, Inc. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,406</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">749,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Shinsei Bank, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">336,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">562,243</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Societe Generale SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135,261</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,653,056</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">SunTrust Banks, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,446</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,066,613</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">U.S. Bancorp</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,850</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,071,064</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Wells Fargo&nbsp;&amp; Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51,808</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,855,139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>75,407,682</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Beverages &#151;
1.9%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Anheuser-Busch InBev SA/NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,465</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,213,502</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Coca-Cola Co. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100,476</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,165,735</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Constellation Brands, Inc., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29,994</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,598,380</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Heineken Holding NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,773</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,722,728</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Heineken NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,692</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">576,422</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kirin Holdings Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">957,642</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">PepsiCo, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70,441</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,370,242</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Takara Holdings, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">771,395</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21,376,046</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Biotechnology &#151;
3.6%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">AbbVie, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47,758</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,990,606</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Amgen, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78,478</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,474,268</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">BioMarin Pharmaceutical, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,589</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,622,753</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Celgene Corp.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92,074</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,657,565</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Gilead Sciences, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143,508</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,276,608</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Shire PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66,601</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,802,866</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>40,824,666</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE> </DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">7</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments &#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Building Products &#151;
0.5%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Daikin Industries, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63,100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,780,521</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5,780,521</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Capital Markets &#151;
1.2%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">CME Group, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,775</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">550,796</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Deutsche Boerse AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,870</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">952,384</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">GAM Holding AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,376</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">675,590</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Moody&#146;s Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,747,672</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Morgan Stanley</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65,092</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,750,137</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P Global, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,142</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,918,851</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Schroders PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62,659</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,301,334</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">State Street Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,373</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,661,110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13,557,874</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Chemicals &#151;
2.8%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">AdvanSix, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,261</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">27,919</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Air Products and Chemicals, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,423</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,663,076</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Akzo Nobel NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,908</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">681,606</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">BASF SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108,986</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,100,430</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Daicel Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">560,696</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Dow Chemical Co. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">807,946</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Eastman Chemical Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,711,028</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Johnson Matthey PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77,449</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,030,365</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kaneka Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">463,634</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Linde AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,210</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,659,049</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mitsubishi Gas Chemical Co., Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">468,584</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nitto Denko Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39,400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,016,506</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Shin-Etsu Chemical Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,764,468</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Solvay SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,637</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">659,002</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sumitomo Chemical Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">118,508</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Toray Industries, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">452,229</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Tosoh Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">173,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,220,340</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32,405,386</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Commercial
Services&nbsp;&amp; Supplies &#151; 0.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">SECOM Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,900</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,134,450</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Waste Management, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23,366</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,656,883</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4,791,333</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Communications Equipment
&#151; 1.0%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Cisco Systems, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">357,128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,792,408</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nokia Oyj</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115,297</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">552,983</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11,345,391</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE>
</DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Construction&nbsp;&amp;
Engineering &#151; 0.2%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Chiyoda Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">289,908</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Ferrovial SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81,605</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,455,364</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Quanta Services, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,703</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">616,950</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2,362,222</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Construction Materials
&#151; 0.3%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">CRH PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62,332</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,149,989</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Imerys SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,825</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">365,552</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Vulcan Materials Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,339</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">543,026</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,058,567</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Consumer Finance &#151;
0.3%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">American Express Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,132,103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Navient Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50,603</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">831,407</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,963,510</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Containers&nbsp;&amp;
Packaging &#151; 0.2%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">International Paper Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,999</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">901,967</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sealed Air Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,433</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,243,812</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Toyo Seikan Kaisha, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">368,195</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2,513,974</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Distributors &#151;
0.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Genuine Parts Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28,642</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,736,457</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">LKQ Corp.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53,930</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,652,954</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4,389,411</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Diversified Financial
Services &#151; 0.5%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Berkshire Hathaway, Inc., Class&nbsp;B<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,883</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,751,591</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Groupe Bruxelles Lambert SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,239</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">355,152</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Investor AB, Class&nbsp;B</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,086,567</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">ORIX Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">642,804</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5,836,114</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Diversified
Telecommunication Services &#151; 1.7%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">AT&amp;T, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99,124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,215,744</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">BT Group PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">454,642</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,052,390</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Deutsche Telekom AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">220,347</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,780,538</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Orange SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103,522</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,569,804</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Proximus SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,589</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">735,602</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Telefonica SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">168,447</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,555,162</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Verizon Communications, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105,653</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,639,757</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19,548,997</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE> </DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments &#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Electric Utilities &#151;
0.7%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Acciona SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,786</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">645,356</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Edison International</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51,169</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,683,656</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Iberdrola SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">615,464</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,029,987</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8,358,999</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Electrical Equipment &#151;
0.9%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">ABB, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">292,957</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">6,164,316</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Fujikura, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">373,659</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Legrand SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47,726</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,707,743</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mabuchi Motor Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">519,641</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9,765,359</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Electronic Equipment,
Instruments&nbsp;&amp; Components &#151; 0.9%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Alps Electric Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,974,661</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Corning, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">484,793</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kyocera Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,394,738</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">OMRON Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">630,547</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Taiyo Yuden Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124,900</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,494,166</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">TDK Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,756,442</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10,735,347</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Energy Equipment&nbsp;&amp;
Services &#151; 0.3%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Halliburton Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50,055</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,707,475</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Schlumberger, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,074</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">342,012</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,049,487</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Equity Real Estate
Investment Trusts (REITs) &#151; 1.0%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">American Tower Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,793</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,880,364</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">AvalonBay Communities, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,904</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,045,894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">British Land Co. PLC (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324,390</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,517,429</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Japan Real Estate Investment Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">404,136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nippon Building Fund, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">443,493</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Simon Property Group, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,522</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,712,164</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11,003,480</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Food&nbsp;&amp; Staples
Retailing &#151; 1.2%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Carrefour SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120,998</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,913,144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">CVS Health Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71,786</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,664,633</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">FamilyMart UNY Holdings Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,600</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">572,244</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kroger Co. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">690,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Seven&nbsp;&amp; i Holdings Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,680,889</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><FONT STYLE="white-space:nowrap">Wal-Mart</FONT> Stores, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33,122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,289,393</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13,810,503</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE>
</DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Food Products &#151;
3.3%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Campbell Soup Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,087</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">851,841</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kraft Heinz Co. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,335,111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mondelez International, Inc., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">224,275</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,942,111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nestle SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">317,170</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,721,287</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nissin Foods Holdings Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,700</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">613,708</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Toyo Suisan Kaisha, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">217,076</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Yakult Honsha Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">707,875</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>37,389,009</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Gas Utilities &#151; 0.0%<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc"><SUP
STYLE="font-size:85%; vertical-align:top"></SUP>&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Italgas SpA<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35,014</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">137,773</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>137,773</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Health Care
Equipment&nbsp;&amp; Supplies &#151; 0.8%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Abbott Laboratories</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113,910</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,375,283</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Analogic Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,189</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">845,178</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hologic, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,554</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">704,266</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Olympus Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,900</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">237,738</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Smith&nbsp;&amp; Nephew PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">750,461</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Terumo Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,230,350</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9,143,276</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Health Care
Providers&nbsp;&amp; Services &#151; 0.8%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">DaVita, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,963</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">832,225</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Fresenius SE&nbsp;&amp; Co. KGaA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,764</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">683,687</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">McKesson Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,774</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,355,908</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">UnitedHealth Group, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,811</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,571,152</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9,442,972</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Hotels,
Restaurants&nbsp;&amp; Leisure &#151; 0.9%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Accor SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,214</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">976,541</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">McDonald&#146;s Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,986</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,163,016</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Six Flags Entertainment Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,001</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,918,780</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Yum! Brands, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,297</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,691,949</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9,750,286</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Household Durables &#151;
0.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Barratt Developments PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">337,253</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,917,321</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Casio Computer Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">890,685</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">PulteGroup, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70,920</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,303,509</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sekisui Chemical Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">971,031</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5,082,546</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE> </DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">9</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments &#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Household Products &#151;
1.0%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Clorox Co. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,837</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,260,817</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Colgate-Palmolive Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,994</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">523,127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Henkel AG&nbsp;&amp; Co. KGaA, PFC Shares</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,309</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,179,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kimberly-Clark Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,147</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,413,296</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Procter&nbsp;&amp; Gamble Co. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,496</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,471,064</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Reckitt Benckiser Group PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,566</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,742,103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Unicharm Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">812,457</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11,402,364</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Industrial Conglomerates
&#151; 2.3%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">3M Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,304</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,875,675</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">General Electric Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73,726</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,329,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Honeywell International, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31,549</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,654,952</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nisshinbo Holdings, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,049,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Siemens AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113,166</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,856,038</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>25,765,952</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Insurance &#151;
4.7%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Ageas</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">889,353</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Allianz SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69,106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,405,108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Allstate Corp. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,927</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,254,629</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Chubb, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23,988</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,169,295</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Cincinnati Financial Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,936</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,252,402</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hartford Financial Services Group, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48,969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,333,373</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Lincoln National Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,183</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,470,067</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Marsh&nbsp;&amp; McLennan Cos., Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65,718</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,441,880</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">MetLife, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,076,742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">MS&amp;AD Insurance Group Holdings, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,151,993</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Principal Financial Group, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36,247</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,097,251</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Prudential Financial, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,828,039</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Prudential PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">349,752</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,980,162</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">SCOR SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63,370</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,186,946</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">St. James&#146;s Place PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">209,534</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,613,680</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Standard Life PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">392,564</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,797,625</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Swiss Life Holding AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,264</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,334,404</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>53,282,949</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Internet&nbsp;&amp; Direct
Marketing Retail &#151; 3.1%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Amazon.com, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36,175</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">27,126,547</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Netflix, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,599,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Priceline Group, Inc. (The)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,947</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,786,539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>35,512,886</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE>
</DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Internet
Software&nbsp;&amp; Services &#151; 5.0%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Alphabet, Inc., Class&nbsp;A<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,823</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19,670,987</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Alphabet, Inc., Class&nbsp;C<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,637</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,471,689</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Facebook, Inc., Class&nbsp;A<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">163,423</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,801,816</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">United Internet AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,286,765</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>57,231,257</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">IT Services &#151;
2.3%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Amadeus IT Group SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,489</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,110,677</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Atos SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,628</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">593,177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Capgemini SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,597</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,914,767</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Cognizant Technology Solutions Corp.,
Class&nbsp;A<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79,444</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,451,247</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Fidelity National Information Services, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51,873</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,923,674</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Indra Sistemas SA<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100,870</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,103,258</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">International Business Machines Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,407</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,727,458</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">MasterCard, Inc., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,320</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,337,040</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nomura Research Institute, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,140</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">247,388</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NTT Data Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,029,037</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Obic Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">318,396</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Otsuka Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">363,825</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">PayPal Holdings, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52,937</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,089,423</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Visa, Inc., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">702,180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Worldpay Group PLC<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">662,238</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,198,690</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>26,110,237</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Leisure Products &#151;
0.1%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hasbro, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21,651</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,684,231</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,684,231</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Life Sciences
Tools&nbsp;&amp; Services &#151; 0.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Agilent Technologies, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,037</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">593,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">PerkinElmer, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,425</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,430,214</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Thermo Fisher Scientific, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,359</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,449,355</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4,473,534</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Machinery &#151;
1.6%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Dover Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,424</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">556,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Ebara Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55,600</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,580,457</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">FANUC Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48,127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,051,377</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">IHI Corp.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">213,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">551,648</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kawasaki Heavy Industries, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97,035</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Komatsu, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">770,105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Makita Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,700</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">447,686</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">MAN SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">708,591</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NSK, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69,297</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE> </DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments &#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Machinery
(continued)</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Parker-Hannifin Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,147</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">
&#036;
</TD>
<TD VALIGN="bottom" ALIGN="right">1,000,580</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">SMC Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,900</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">452,056</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><FONT STYLE="white-space:nowrap">Snap-on,</FONT> Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,052,112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Stanley Black&nbsp;&amp; Decker, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,657</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,827,911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>18,165,135</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Media &#151;
3.6%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Charter Communications, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,343</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,977,957</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Comcast Corp., Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">238,157</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,444,741</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Dentsu, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,600</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,250,820</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hakuhodo DY Holdings, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,900</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">257,345</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Interpublic Group of Cos., Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40,333</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">944,195</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Omnicom Group, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,166</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,546,108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">ProSiebenSat.1 Media SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,382</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,053,987</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sky PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">447,757</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,458,573</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Time Warner, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,926</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,054,687</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Vivendi SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">177,414</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,364,995</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Walt Disney Co. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,917</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,140,330</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>40,493,738</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Metals&nbsp;&amp; Mining
&#151; 1.2%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Glencore PLC<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,472,251</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,974,564</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mitsubishi Materials Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">244,697</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nippon Light Metal Holdings Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">200,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">421,076</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nisshin Steel Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38,900</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">477,778</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nucor Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23,673</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,409,017</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Rio Tinto PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">157,688</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,020,209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13,547,341</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Multi-Utilities &#151;
1.1%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">CMS Energy Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126,690</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">5,272,838</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Consolidated Edison, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,824</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,018,552</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Dominion Resources, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,793</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,128,666</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">National Grid PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">241,659</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,823,480</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NiSource, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,420</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">939,179</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Veolia Environnement SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37,663</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">639,964</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12,822,679</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Multiline Retail &#151;
0.7%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Isetan Mitsukoshi Holdings, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71,332</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">768,077</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Marks&nbsp;&amp; Spencer Group PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">398,770</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,717,775</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Next PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,584</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,550,997</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Nordstrom, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,439</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">596,201</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Target Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,031</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,458,059</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8,091,109</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR></TABLE>
</DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Oil, Gas&nbsp;&amp;
Consumable Fuels &#151; 5.0%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Anadarko Petroleum Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,045,950</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">BP PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,410,604</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,835,215</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Chevron Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72,650</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,550,905</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">ENI SpA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">351,386</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,696,344</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">EOG Resources, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">505,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Exxon Mobil Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65,795</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,938,657</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Idemitsu Kosan Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">265,253</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Marathon Petroleum Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,916</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,405,571</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Newfield Exploration Co.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,510</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">466,155</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Phillips 66</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36,105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,119,833</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Pioneer Natural Resources Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">720,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Royal Dutch Shell PLC, Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">189,507</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,231,059</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Royal Dutch Shell PLC, Class&nbsp;B</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">142,044</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,081,194</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Snam SpA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">175,073</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">720,049</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Total SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">198,408</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,176,763</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>56,758,728</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Paper&nbsp;&amp; Forest
Products &#151; 0.0%<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc"><SUP
STYLE="font-size:85%; vertical-align:top"></SUP>&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">OJI Paper Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">166,731</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>166,731</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Personal Products &#151;
1.2%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Estee Lauder Cos., Inc. (The), Class&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,480</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,948,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kao Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61,054</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,889,982</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Unilever NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">193,140</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,933,962</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Unilever PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,759</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">637,292</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13,410,201</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Pharmaceuticals &#151;
7.5%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Allergan PLC<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,024</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,315,150</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Astellas Pharma, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">269,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,736,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">AstraZeneca PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">117,424</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,412,258</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Bayer AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43,122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,492,598</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Chugai Pharmaceutical Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99,100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,842,588</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Eisai Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23,146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,326,436</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Eli Lilly&nbsp;&amp; Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,949</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,320,149</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">GlaxoSmithKline PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55,889</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,073,543</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hisamitsu Pharmaceutical Co., Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164,825</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Indivior PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,431</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92,661</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Johnson&nbsp;&amp; Johnson</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60,088</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,922,739</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mallinckrodt PLC<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,475</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">322,585</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Merck&nbsp;&amp; Co., Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103,665</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,102,759</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mitsubishi Tanabe Pharma Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">195,799</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Novartis AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">218,832</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,914,216</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Pfizer, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104,651</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,399,064</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE> </DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments &#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Pharmaceuticals
(continued)</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Roche Holding AG PC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75,965</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">
&#036;
</TD>
<TD VALIGN="bottom" ALIGN="right">17,316,417</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sanofi</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124,447</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,063,431</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Takeda Pharmaceutical Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,631</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">606,982</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">UCB SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">587,153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>85,207,446</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Professional Services
&#151; 0.5%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Equifax, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,217</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,799,106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Experian PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85,608</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,657,510</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Intertek Group PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,167</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">307,163</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Robert Half International, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30,884</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,506,521</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Wolters Kluwer NV</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">961</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,759</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5,305,059</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Real Estate
Management&nbsp;&amp; Development &#151; 0.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Capital&nbsp;&amp; Counties Properties PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">189,600</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">694,196</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">CBRE Group, Inc., Class&nbsp;A<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41,385</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,303,214</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Daito Trust Construction Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">947,128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Heiwa Real Estate Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">551,083</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NTT Urban Development Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">152,517</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sumitomo Realty&nbsp;&amp; Development Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">637,136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4,285,274</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Road&nbsp;&amp; Rail &#151;
0.7%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Central Japan Railway Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">903,042</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">CSX Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115,014</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,132,453</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">East Japan Railway Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">551,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kansas City Southern</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,468</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,312,460</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Keio Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">624,278</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>7,524,033</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Semiconductors&nbsp;&amp;
Semiconductor Equipment &#151; 3.9%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Intel Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">339,510</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,314,028</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Marvell Technology Group, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84,177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,167,535</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Microchip Technology, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">641,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NXP Semiconductors NV<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54,841</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,374,966</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">QUALCOMM, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127,269</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,297,939</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Texas Instruments, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145,069</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,585,685</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Tokyo Electron, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62,400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,868,679</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Versum Materials, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,211</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">455,043</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>44,705,375</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Software &#151;
4.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Citrix Systems, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34,110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,046,364</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Electronic Arts, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53,174</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,187,984</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
</DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Software
(continued)</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Konami Holdings Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">
&#036;
</TD>
<TD VALIGN="bottom" ALIGN="right">221,971</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Microsoft Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">591,593</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36,761,589</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Oracle Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156,176</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,004,967</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Trend Micro, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14,097</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">500,355</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>50,723,230</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Specialty Retail &#151;
2.1%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">CarMax, Inc.<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,464</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">351,827</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Fast Retailing Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35,400</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,638,752</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Groupe FNAC SA<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">922</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62,290</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Home Depot, Inc. (The)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,734</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,729,775</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Lowe&#146;s Cos., Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50,810</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,613,607</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Tiffany&nbsp;&amp; Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,484,565</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">USS Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,200</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">432,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24,312,909</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Technology Hardware,
Storage&nbsp;&amp; Peripherals &#151; 4.3%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Apple, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">392,441</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">45,452,517</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Brother Industries, Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">323,593</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Canon, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">537,898</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hewlett Packard Enterprise Co.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78,955</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,827,019</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">HP, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,955</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">874,892</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>49,015,919</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Textiles,
Apparel&nbsp;&amp; Luxury Goods &#151; 1.6%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Adidas AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,824</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,864,860</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Asics Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">398,558</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Christian Dior SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,660</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,233,395</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Hanesbrands, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32,716</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">705,684</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kering SA</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,380</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,655,360</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">LVMH Moet Hennessy Louis Vuitton SE</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36,778</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,012,521</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NIKE, Inc., Class&nbsp;B</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83,464</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,242,475</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Onward Holdings Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">209,914</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>18,322,767</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Tobacco &#151;
2.5%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">British American Tobacco PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">243,393</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13,794,387</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Imperial Brands PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">143,738</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,264,179</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Japan Tobacco, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,511,008</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Philip Morris International, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64,219</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,875,396</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>28,444,970</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Trading
Companies&nbsp;&amp; Distributors &#151; 0.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Marubeni Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">113,121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Mitsubishi Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">785,830</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE> </DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments &#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Security</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Shares</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Trading
Companies&nbsp;&amp; Distributors (continued)</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;</FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sumitomo Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96,700</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">
&#036;
</TD>
<TD VALIGN="bottom" ALIGN="right">1,135,201</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Wolseley PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47,906</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,924,476</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4,958,628</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Transportation
Infrastructure &#151; 0.1%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;</FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">ADP</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,667</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">713,948</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Kamigumi Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">438,119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,152,067</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Wireless Telecommunication
Services &#151; 1.4%</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;</FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">KDDI Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,149,063</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">SoftBank Group Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">117,598</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,781,931</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Vodafone Group PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,864,521</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,588,357</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>16,519,351</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="5"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="4"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">Total Common Stocks &#151; 100.4%<BR>(identified cost
$568,401,342)</FONT></P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,144,363,756</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="17"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="16">Call Options Written &#151; (0.9)%</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="17"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="16">Exchange-Traded Options &#151; (0.3)%</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Description</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Number&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Contracts</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Strike</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Price</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Expiration</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Date</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NASDAQ 100 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">4,900</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/6/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(206,875</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NASDAQ 100 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/13/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(130,200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NASDAQ 100 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,975</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/20/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(235,200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">NASDAQ 100 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,925</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/27/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(703,116</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,215</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/3/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(352,300</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,220</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/4/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(320,625</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,260</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/6/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(51,350</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/9/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(38,350</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/11/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(35,437</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/13/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(51,975</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,275</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/17/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(84,375</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/18/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(74,100</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/20/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(129,350</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,275</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/23/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(120,900</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/25/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(112,500</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">S&amp;P 500 Index</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">140</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,265</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1/27/17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(248,541</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD COLSPAN="12" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(2,895,194</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> </DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="20"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Over-the-Counter</FONT></FONT> Options &#151; (0.6)%</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:5.5pt"><B>Description</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:5.5pt"><B>Counterparty</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:5.5pt; font-family:arial" ALIGN="right"><B><FONT STYLE="font-size:5.5pt">Number&nbsp;of</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:5.5pt; font-family:arial" ALIGN="right"><B><FONT STYLE="font-size:5.5pt">Contracts</FONT></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:5.5pt"><B>Strike<BR>Price</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:5.5pt; font-family:arial" ALIGN="right"><B><FONT STYLE="font-size:5.5pt">Expiration</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:5.5pt; font-family:arial" ALIGN="right"><B><FONT STYLE="font-size:5.5pt">Date</FONT></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:5.5pt"><B>Value</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Dow&nbsp;Jones&nbsp;Euro Stoxx&nbsp;50 Index<SUP
STYLE="font-size:85%; vertical-align:top">&nbsp;</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Barclays&nbsp;Bank&nbsp;PLC</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">14,900</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">EUR</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">3,200</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/6/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(1,486,739</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Dow Jones Euro Stoxx 50
Index<SUP STYLE="font-size:85%; vertical-align:top"> </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Soci&eacute;t&eacute; G&eacute;n&eacute;rale</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">14,700</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">EUR</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">3,300</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/13/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(556,301</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Dow Jones Euro Stoxx 50
Index<SUP STYLE="font-size:85%; vertical-align:top"> </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;<BR></FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Credit Suisse<BR>International</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;<BR>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">14,300</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">EUR</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">3,300</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/20/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(654,359</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Dow Jones Euro Stoxx 50
Index<SUP STYLE="font-size:85%; vertical-align:top"> </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Soci&eacute;t&eacute; G&eacute;n&eacute;rale</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">13,750</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">EUR</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">3,300</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/27/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(723,243</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">FTSE 100 Index<SUP STYLE="font-size:85%; vertical-align:top">
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Barclays Bank PLC</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">7,200</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">GBP</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">7,075</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/20/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(1,021,463</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">FTSE&nbsp;100&nbsp;Index<SUP STYLE="font-size:85%; vertical-align:top">&nbsp;
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Deutsche Bank AG</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">7,600</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">GBP</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">7,025</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/20/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(1,412,452</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Nikkei&nbsp;225&nbsp;Index<SUP STYLE="font-size:85%; vertical-align:top">&nbsp;
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Deutsche Bank AG</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">175,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">JPY</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">19,250</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/6/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(158,374</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Nikkei 225 Index<SUP STYLE="font-size:85%; vertical-align:top">
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;<BR><BR></FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Morgan Stanley&nbsp;&amp;<BR>Co. International<BR>PLC</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;<BR>&nbsp;<BR>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">170,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">JPY</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt"> &nbsp;19,625</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/13/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(101,868</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Nikkei 225 Index<SUP STYLE="font-size:85%; vertical-align:top">
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">UBS AG</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">170,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">JPY</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">19,625</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/20/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(172,039</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">Nikkei 225 Index<SUP STYLE="font-size:85%; vertical-align:top">
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">UBS AG</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">165,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">JPY</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">19,250</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/27/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(373,973</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">SMI Index<SUP STYLE="font-size:85%; vertical-align:top">
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Citibank, N.A.</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">3,100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">CHF</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">8,200</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/20/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(355,523</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt">SMI Index<SUP STYLE="font-size:85%; vertical-align:top">
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;<BR></FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">Credit Suisse<BR>International</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;<BR>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">3,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">CHF</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">8,300</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">1/20/17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt">(198,607</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(7,214,941</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="12"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc">Total Call Options Written<BR>(premiums
received $11,251,134)</FONT></P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt"><B>(10,110,135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="8"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc">Other Assets, Less Liabilities &#151;
0.5%</FONT></P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt"><B>5,323,739</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="8"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc">Net Assets &#151; 100.0%</FONT></P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:5.5pt; font-family:arial"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc"><B><FONT COLOR="#547bcc">$</FONT></B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc"><B><FONT COLOR="#547bcc">1,139,577,360</FONT></B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-size:5.5pt" COLOR="#547bcc"><B><FONT COLOR="#547bcc">&nbsp;</FONT></B></FONT></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">The percentage shown for each investment category in the Portfolio of Investments is based on net assets. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="14" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Non-income</FONT> producing security. </TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="14" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Amount is less than 0.05%. </TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="14" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to
qualified institutional buyers). At December&nbsp;31, 2016, the aggregate value of these securities is $2,198,690 or 0.2% of the Fund&#146;s net assets.
</TD></TR></TABLE></DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Portfolio of Investments&nbsp;&#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>


<TR STYLE="font-family:arial; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="8"><B>Country Concentration of Portfolio</B></TD>
<TD VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Country</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Percentage&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="right"><B>Total&nbsp;Investments</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">United States</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">618,525,366</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Japan</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">125,643,863</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">United Kingdom</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">123,866,168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">France</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78,433,513</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Germany</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67,432,954</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Switzerland</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65,126,230</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Netherlands</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,328,100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Spain</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,165,862</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Italy</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,852,112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Belgium</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,843,706</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Denmark</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,356,343</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Ireland</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,149,989</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Sweden</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,086,567</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Finland</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0<SUP STYLE="font-size:85%; vertical-align:top"></SUP></TD>
<TD NOWRAP VALIGN="bottom"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">552,983</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Total Investments</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100.0</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,144,363,756</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Amount is less than 0.05%. </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top" COLSPAN="5"><FONT STYLE="font-size:8pt"><B>Abbreviations:</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top">PC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Participation Certificate</TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top">PFC&nbsp;Shares</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Preference Shares</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top" COLSPAN="5"><FONT STYLE="font-size:8pt"><B>Currency Abbreviations:</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top">CHF</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Swiss Franc</TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top">EUR</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Euro</TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top">GBP</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">British Pound&nbsp;Sterling</TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top">JPY</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Japanese Yen</TD></TR>
</TABLE>
<P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
</DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Statement of Assets and Liabilities </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT STYLE="font-size:8.5pt" COLOR="#547bcc">Assets</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>December&nbsp;31,&nbsp;2016</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Investments, at value (identified cost, $568,401,342)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,144,363,756</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Cash</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,222,046</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Foreign currency, at value (identified cost, $711,829)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">714,420</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Dividends receivable</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,319,219</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Receivable for investments sold</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,259,873</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Receivable for premiums on written options</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,048,872</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Tax reclaims receivable</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">2,707,632</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total assets</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1,156,635,818</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Liabilities</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Written options outstanding, at value (premiums received, $11,251,134)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,110,135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Payable for closed written options</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,605,486</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Payable to affiliates:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Investment adviser fee</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">974,294</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Trustees&#146; fees</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Accrued expenses</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">353,398</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total liabilities</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>17,058,458</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net Assets</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1,139,577,360</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Sources of Net Assets</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Common shares, $0.01 par value, unlimited number of shares authorized, 106,442,735 shares issued and
outstanding</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,064,427</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Additional <FONT STYLE="white-space:nowrap">paid-in</FONT> capital</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">591,976,745</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Accumulated net realized loss</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27,047,539</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Accumulated distributions in excess of net investment income</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,293,357</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net unrealized appreciation</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">576,877,084</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net Assets</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1,139,577,360</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Net Asset Value</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>($1,139,577,360 &divide; 106,442,735 common shares issued and
outstanding)</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>10.71</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">15</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Statement of Operations </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT STYLE="font-size:8.5pt" COLOR="#547bcc">Investment Income</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial"><B>Year Ended</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial"><B>December&nbsp;31,&nbsp;2016</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Dividends (net of foreign taxes, $1,708,652)</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">30,227,763</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total investment income</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>30,227,763</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Expenses</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Investment adviser fee</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">11,662,088</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Trustees&#146; fees and expenses</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61,682</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Custodian fee</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">378,805</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Transfer and dividend disbursing agent fees</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,627</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Legal and accounting services</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102,673</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Printing and postage</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">420,044</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Miscellaneous</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">194,796</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total expenses</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>12,838,715</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net investment income</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>17,389,048</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Realized and Unrealized Gain (Loss)</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net realized gain (loss) &#151;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Investment transactions</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">34,277,482</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Written options</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18,139,261</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Foreign currency transactions</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(482,141</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net realized gain</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>15,656,080</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Change in unrealized appreciation (depreciation) &#151;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Investments</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,487,927</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Written options</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,080,154</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Foreign currency</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(38,324</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net change in unrealized appreciation (depreciation)</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>369,449</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net realized and unrealized gain</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>16,025,529</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net increase in net assets from operations</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>33,414,577</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">16</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Statements of Changes in Net Assets </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"><B>Year Ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT STYLE="font-size:8.5pt" COLOR="#547bcc">Increase (Decrease) in Net Assets</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>2016</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>2015</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="8"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">From operations &#151;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net investment income</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">17,389,048</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19,471,011</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net realized gain from investment transactions, written options and foreign currency transactions</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,656,080</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38,614,753</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net change in unrealized appreciation (depreciation) from
investments, written options and foreign currency</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">369,449</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(11,434,605</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net increase in net assets from operations</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>33,414,577</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>46,651,159</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="8"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Distributions to shareholders &#151;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">From net investment income</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(16,535,796</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(19,446,346</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Tax return of capital</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(107,746,742</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(104,836,192</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total distributions</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(124,282,538</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(124,282,538</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net decrease in net assets</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(90,867,961</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(77,631,379</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Net Assets</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">At beginning of year</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">1,230,445,321</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">1,308,076,700</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>At end of year</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1,139,577,360</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1,230,445,321</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21" COLSPAN="9"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="8" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Accumulated distributions in excess of net investment income<BR>included in net assets</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>At end of year</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(3,293,357</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(3,830,031</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Financial Highlights </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"><B>Year Ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>2016</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>2015</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>2014</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>2013</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><B>2012</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net asset value &#151; Beginning of year</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">11.560</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">12.290</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">13.130</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">12.370</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">12.220</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Income (Loss) From Operations</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net investment income<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.163</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.183</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.233</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.223</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net realized and unrealized gain</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">0.155</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">0.255</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">0.095</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">1.754</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">1.084</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total income from operations</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>0.318</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>0.438</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>0.328</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1.927</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1.307</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Less Distributions</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">From net investment income</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.155</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.183</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.242</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.189</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.233</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Tax return of capital</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(1.013</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(0.985</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(0.926</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(0.979</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(0.935</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total distributions</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(1.168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(1.168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(1.168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(1.168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(1.168</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Anti-dilutive effect of share repurchase program (see Note 5)</B><SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>0.001</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>0.011</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Net asset value &#151; End of year</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>10.710</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>11.560</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>12.290</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>13.130</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>12.370</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Market value &#151; End of year</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>10.070</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>11.230</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>11.020</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>12.100</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>10.690</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total Investment Return on Net Asset Value<SUP
STYLE="font-size:85%; vertical-align:top"></SUP></B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP STYLE="font-size:85%; vertical-align:top">(2)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>3.46</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>3.92</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>2.97</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>17.46</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>12.46</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial"><B>Total Investment Return on Market Value<SUP
STYLE="font-size:85%; vertical-align:top"></SUP></B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-size:5pt"><SUP STYLE="font-size:85%; vertical-align:top">(2)<B></B></SUP><B></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>0.14</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>12.59</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>0.19</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>25.26</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>15.53</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="21"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD>
<TD HEIGHT="21" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT COLOR="#547bcc">Ratios/Supplemental Data</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #547bcc"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net assets, end of year (000&#146;s omitted)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,139,577</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,230,445</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,308,077</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,397,576</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,317,270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Ratios (as a percentage of average daily net assets):</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Expenses<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.09</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.08</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:8pt; font-family:arial">Net investment income</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.80</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.37</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.77</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:8pt; font-family:arial">Portfolio Turnover</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">%&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">%&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">%&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">%&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Computed using average shares outstanding. </TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under
the Fund&#146;s dividend reinvestment plan. </TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September&nbsp;1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.
</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">18</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><I>See Notes to Financial Statements.</I></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Notes to Financial Statements </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">1&nbsp;&nbsp;Significant Accounting Policies </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Eaton Vance <FONT
STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (the Fund) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as
a diversified, <FONT STYLE="white-space:nowrap">closed-end</FONT> management investment company. The Fund&#146;s primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The following is a summary of significant accounting policies of the Fund. The policies are in conformity with accounting principles generally accepted in the United
States of America (U.S. GAAP). The Fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#547bcc">A&nbsp;&nbsp;Investment Valuation</FONT><FONT STYLE="font-family:arial"> &#151; The following methodologies are used to
determine the market value or fair value of investments. </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Equity Securities.</B> Equity securities listed on a U.S. securities exchange generally are valued
at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices therefore on the exchange where such securities are principally traded. Equity securities listed
on the NASDAQ Global or Global Select Market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest
available bid and asked prices. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Derivatives.</B> Exchange-traded options are valued at the mean between the bid and asked prices at valuation time as reported by
the Options Price Reporting Authority for U.S. listed options or by the relevant exchange or board of trade for <FONT STYLE="white-space:nowrap">non-U.S.</FONT> listed options.
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Over-the-counter</FONT></FONT> options are valued by a third party pricing service using techniques that consider factors including the value of the underlying instrument, the
volatility of the underlying instrument and the period of time until option expiration. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Foreign Securities and Currencies.</B> Foreign securities and currencies
are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and
implied bid/ask spreads. The daily valuation of exchange-traded foreign securities generally is determined as of the close of trading on the principal exchange on which such securities trade. Events occurring after the close of trading on foreign
exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain
criteria, the Fund&#146;s Trustees have approved the use of a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that
have a strong correlation to the fair-valued securities. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Fair Valuation.</B> Investments for which valuations or market quotations are not readily available or
are deemed unreliable are valued at fair value using methods determined in good faith by or at the direction of the Trustees of the Fund in a manner that fairly reflects the security&#146;s value, or the amount that the Fund might reasonably expect
to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not
limited to, the type of security, the existence of any contractual restrictions on the security&#146;s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or
relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company&#146;s or
entity&#146;s financial condition, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT
STYLE="font-family:arial" COLOR="#547bcc">B&nbsp;&nbsp;Investment Transactions</FONT><FONT STYLE="font-family:arial"> &#151; Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses
on investments sold are determined on the basis of identified cost. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#547bcc">C&nbsp;&nbsp;Income</FONT><FONT
STYLE="font-family:arial"> &#151; Dividend income is recorded on the <FONT STYLE="white-space:nowrap">ex-dividend</FONT> date for dividends received in cash and/or securities. However, if the <FONT STYLE="white-space:nowrap">ex-dividend</FONT> date
has passed, certain dividends from foreign securities are recorded as the Fund is informed of the <FONT STYLE="white-space:nowrap">ex-dividend</FONT> date. Withholding taxes on foreign dividends and capital gains have been provided for in accordance
with the Fund&#146;s understanding of the applicable countries&#146; tax rules and rates. In consideration of recent decisions rendered by European courts, the Fund has filed additional tax reclaims for previously withheld taxes on dividends earned
in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries. During the year ended December&nbsp;31, 2016, the Fund recorded no income for reclaims of previously withheld
dividend taxes and approximately $56,000 of previously recorded income for dividend tax reclaims is unpaid and included in Tax reclaims receivable in the Statement of Assets and Liabilities. No other amounts for additional tax reclaims are reflected
in the financial statements due to the uncertainty as to the ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of payment. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#547bcc">D&nbsp;&nbsp;Federal Taxes</FONT><FONT STYLE="font-family:arial"> &#151; The Fund&#146;s policy is to comply with the
provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute to shareholders each year substantially all of its net investment income, and all or substantially all of its net realized capital gains.
Accordingly, no provision for federal income or excise tax is necessary. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">As of December&nbsp;31, 2016, the Fund had no uncertain tax positions that would
require financial statement recognition, <FONT STYLE="white-space:nowrap">de-recognition,</FONT> or disclosure. The Fund files a U.S. federal income tax return annually after its fiscal <FONT STYLE="white-space:nowrap">year-end,</FONT> which is
subject to examination by the Internal Revenue Service for a period of three years from the date of filing. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#547bcc">E&nbsp;&nbsp;Foreign Currency Translation</FONT><FONT STYLE="font-family:arial"> &#151; Investment valuations, other
assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in
</FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">19</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Notes to Financial Statements&nbsp;&#151; continued
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses
on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that
results from fluctuations in foreign currency exchange rates is not separately disclosed. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#547bcc">F&nbsp;&nbsp;Use of
Estimates</FONT><FONT STYLE="font-family:arial"> &#151; The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the
date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#547bcc">G&nbsp;&nbsp;Indemnifications</FONT><FONT STYLE="font-family:arial"> &#151; Under the Fund&#146;s organizational
documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Fund. Under Massachusetts law, if certain conditions prevail, shareholders of a Massachusetts
business trust (such as the Fund) could be deemed to have personal liability for the obligations of the Fund. However, the Fund&#146;s Declaration of Trust contains an express disclaimer of liability on the part of Fund shareholders and the <FONT
STYLE="white-space:nowrap">By-laws</FONT> provide that the Fund shall assume the defense on behalf of any Fund shareholders. Moreover, the <FONT STYLE="white-space:nowrap">By-laws</FONT> also provide for indemnification out of Fund property of any
shareholder held personally liable solely by reason of being or having been a shareholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Fund enters into agreements with service providers
that may contain indemnification clauses. The Fund&#146;s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT STYLE="font-family:arial" COLOR="#547bcc">H&nbsp;&nbsp;Written Options</FONT><FONT STYLE="font-family:arial"> &#151; Upon the writing of a call or a put option, the
premium received by the Fund is included in the Statement of Assets and Liabilities as a liability. The amount of the liability is subsequently <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">marked-to-market</FONT></FONT> to
reflect the current market value of the option written, in accordance with the Fund&#146;s policies on investment valuations discussed above. Premiums received from writing options which expire are treated as realized gains. Premiums received from
writing options which are exercised or are closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. When an index option is exercised, the Fund is required to deliver an amount of
cash determined by the excess of the strike price of the option over the value of the index (in the case of a put) or the excess of the value of the index over the strike price of the option (in the case of a call) at contract termination. If a put
option on a security is exercised, the premium reduces the cost basis of the securities purchased by the Fund. The Fund, as a writer of an option, may have no control over whether the underlying securities or other assets may be sold (call) or
purchased (put) and, as a result, bears the market risk of an unfavorable change in the price of the securities or other assets underlying the written option. The Fund may also bear the risk of not being able to enter into a closing transaction if a
liquid secondary market does not exist. </FONT></P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">2&nbsp;&nbsp;Distributions to Shareholders and Income Tax Information </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Subject to its Managed Distribution Plan, the Fund makes monthly distributions from its cash available for distribution, which consists of the Fund&#146;s dividends and
interest income after payment of Fund expenses, net option premiums and net realized and unrealized gains on stock investments. The Fund intends to distribute all or substantially all of its net realized capital gains. Distributions are recorded on
the <FONT STYLE="white-space:nowrap">ex-dividend</FONT> date. Distributions to shareholders are determined in accordance with income tax regulations, which may differ from U.S. GAAP. As required by U.S. GAAP, only distributions in excess of tax
basis earnings and profits are reported in the financial statements as a return of capital. Permanent differences between book and tax accounting relating to distributions are reclassified to <FONT STYLE="white-space:nowrap">paid-in</FONT> capital.
For tax purposes, distributions from short-term capital gains are considered to be from ordinary income. Distributions in any year may include a substantial return of capital component. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The tax character of distributions declared for the years ended December&nbsp;31, 2016 and December&nbsp;31, 2015 was as follows: </P>
<P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Year Ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><B>2016</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><B>2015</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Distributions declared from:</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Ordinary income</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16,535,796</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19,446,346</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Tax return of capital</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">107,746,742</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">104,836,192</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">During the year ended December&nbsp;31, 2016, accumulated net realized loss was decreased by $316,937, accumulated distributions in excess
of net investment income was increased by $316,578 and <FONT STYLE="white-space:nowrap">paid-in</FONT> capital was decreased by $359 due to differences between book and tax accounting, primarily for foreign currency gain (loss), investments in
passive foreign investment companies (PFICs), distributions from real estate investment trusts (REITs), return of capital distributions from securities and investments in partnerships. These reclassifications had no effect on the net assets or net
asset value per share of the Fund. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Notes to Financial Statements&nbsp;&#151; continued
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">As of December&nbsp;31, 2016, the components of distributable earnings (accumulated losses) on a tax basis were as follows: </P>
<P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>


<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Deferred capital losses</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000" ALIGN="right">(23,825,442</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Late year ordinary losses</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(104,332</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Net unrealized appreciation</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">570,465,962</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The differences between components of distributable earnings (accumulated losses) on a tax basis and the amounts reflected in the
Statement of Assets and Liabilities are primarily due to wash sales, option contracts, investments in partnerships, distributions from REITs and investments in PFICs. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">At December&nbsp;31, 2016, the Fund, for federal income tax purposes, had deferred capital losses of $23,825,442 which would reduce its taxable income arising from future
net realized gains on investment transactions, if any, to the extent permitted by the Internal Revenue Code, and thus would reduce the amount of distributions to shareholders, which would otherwise be necessary to relieve the Fund of any liability
for federal income or excise tax. The deferred capital losses are treated as arising on the first day of the Fund&#146;s next taxable year and retain the same short-term or long-term character as when originally deferred. Of the deferred capital
losses at December&nbsp;31, 2016, $23,825,442 are short-term. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Additionally, at December&nbsp;31, 2016, the Fund had a late year ordinary loss of $104,332, related to
certain specified losses realized after October&nbsp;31, 2016, which it has elected to defer to the following taxable year pursuant to income tax regulations. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The
cost and unrealized appreciation (depreciation) of investments of the Fund at December&nbsp;31, 2016, as determined on a federal income tax basis, were as follows: </P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Aggregate cost</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>571,846,619</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Gross unrealized appreciation</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">577,676,489</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Gross unrealized depreciation</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(5,159,352</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Net unrealized appreciation</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>572,517,137</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">3&nbsp;&nbsp;Investment Adviser Fee and Other Transactions with Affiliates </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The investment adviser fee is earned by Eaton Vance Management (EVM) as compensation for management and investment advisory services rendered to the Fund. The fee is
computed at an annual rate of 1.00% of the Fund&#146;s average daily gross assets and is payable monthly. Gross assets as referred to herein represent net assets plus obligations attributable to investment leverage, if any. For the year ended
December&nbsp;31, 2016, the Fund&#146;s investment adviser fee amounted to $11,662,088. Pursuant to a <FONT STYLE="white-space:nowrap">sub-advisory</FONT> agreement, EVM has delegated a portion of the investment management to Parametric Portfolio
Associates LLC (Parametric), a majority-owned subsidiary of Eaton Vance Corp. EVM pays Parametric a portion of its investment adviser fee for <FONT STYLE="white-space:nowrap">sub-advisory</FONT> services provided to the Fund. EVM also serves as
administrator of the Fund, but receives no compensation. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Trustees and officers of the Fund who are members of EVM&#146;s organization receive remuneration for their
services to the Fund out of the investment adviser fee. Trustees of the Fund who are not affiliated with EVM may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation
Plan. For the year ended December&nbsp;31, 2016, no significant amounts have been deferred. Certain officers and Trustees of the Fund are officers of EVM. </P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT
 COLOR="#547bcc">4&nbsp;&nbsp;Purchases and Sales of Investments </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Purchases and sales of investments, other than short-term obligations, aggregated $95,074,196
and $218,028,805, respectively, for the year ended December&nbsp;31, 2016. </P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">5&nbsp;&nbsp;Common Shares of Beneficial Interest </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund may issue common shares pursuant to its dividend reinvestment plan. There were no common shares issued by the Fund for the years ended December&nbsp;31, 2016 and
December&nbsp;31, 2015. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Board of Trustees of the Fund approved the continuation of the Fund&#146;s share repurchase program that has been in effect since
August&nbsp;6, 2012. Pursuant to the terms of the reauthorization of the program, the Fund may repurchase up to 10% of its common shares outstanding as of September&nbsp;30, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">21</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Notes to Financial Statements&nbsp;&#151; continued
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">2013 in open market transactions at a discount to net asset value (NAV). The terms of the reauthorization increased the number of shares available for repurchase. The
repurchase program does not obligate the Fund to purchase a specific amount of shares. There were no repurchases of common shares by the Fund for the years ended December&nbsp;31, 2016 and December&nbsp;31, 2015. </P>
<P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">6&nbsp;&nbsp;Financial Instruments </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund may trade in
financial instruments with <FONT STYLE="white-space:nowrap">off-balance</FONT> sheet risk in the normal course of its investing activities. These financial instruments may include written options and may involve, to a varying degree, elements of
risk in excess of the amounts recognized for financial statement purposes. The notional or contractual amounts of these instruments represent the investment the Fund has in particular classes of financial instruments and do not necessarily represent
the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered. A summary of obligations under these financial instruments at
December&nbsp;31, 2016 is included in the Portfolio of Investments. All of the securities of the Fund, unless otherwise pledged, are subject to segregation to satisfy the requirements of the escrow agent with respect to exchange-traded options. At
December&nbsp;31, 2016, the Fund had sufficient cash and/or securities to cover commitments under these contracts. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Written options activity for the year ended
December&nbsp;31, 2016 was as follows: </P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Number&nbsp;of <BR>Contracts</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Premiums <BR>Received</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Outstanding, beginning of year</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">851,940</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">11,844,677</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Options written</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,535,730</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">151,441,446</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Options terminated in closing purchase transactions</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4,760,435</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(63,264,380</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Options exercised</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4,290</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15,903,400</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Options expired</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(5,862,325</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(72,867,209</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Outstanding, end of year</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>760,620</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>11,251,134</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund is subject to equity price risk in the normal course of pursuing its investment objectives. The Fund writes index call options
above the current value of the index to generate premium income. In writing index call options, the Fund in effect, sells potential appreciation in the value of the applicable index above the exercise price in exchange for the option premium
received. The Fund retains the risk of loss, minus the premium received, should the price of the underlying index decline. The Fund is not subject to counterparty credit risk with respect to its written options as the Fund, not the counterparty, is
obligated to perform under such derivatives. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund enters into <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT>
(OTC) written options that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Fund&#146;s net assets below a certain level over a certain period of time,
which would trigger a payment by the Fund for those derivatives in a liability position. At December&nbsp;31, 2016, the fair value of derivatives with credit-related contingent features in a net liability position was $7,214,941. At
December&nbsp;31, 2016, there were no assets pledged by the Fund for such liability. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund has entered into an International Swaps and Derivatives Association,
Inc. Master Agreement (&#147;ISDA Master Agreement&#148;) or similar agreement with substantially all its derivative counterparties. An ISDA Master Agreement is a bilateral agreement between the Fund and a counterparty that governs certain OTC
derivatives and typically contains, among other things, <FONT STYLE="white-space:nowrap">set-off</FONT> provisions in the event of a default and/or termination event as defined under the relevant ISDA Master Agreement. Under an ISDA Master
Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments&#146; payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the
ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or
prohibitions against the right of offset in bankruptcy or insolvency. Certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event the Fund&#146;s net assets decline by a
stated percentage or the Fund fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Fund of any net liability owed to it. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The collateral requirements for derivatives traded under an ISDA Master Agreement are governed by a Credit Support Annex to the ISDA Master Agreement. Collateral
requirements are determined at the close of business each day and are typically based on changes in market values for each transaction under an ISDA Master Agreement and netted into one amount for such agreement. Generally, the amount of collateral
due from or to a counterparty is subject to a minimum transfer threshold amount before a transfer is required, which may vary by counterparty. Collateral pledged for the benefit of the Fund and/or counterparty is held in segregated accounts by the
Fund&#146;s custodian and cannot be sold, <FONT STYLE="white-space:nowrap">re-pledged,</FONT> assigned or otherwise used while pledged. The portion of such collateral representing cash, if any, is reflected as restricted cash and, in the case of
cash pledged by a counterparty for the benefit of the Fund, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Fund as collateral, if any, are identified as such in the Portfolio of Investments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">22</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Notes to Financial Statements&nbsp;&#151; continued
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) and whose primary underlying risk exposure is
equity price risk at December&nbsp;31, 2016 was as follows: </P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Fair Value</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Derivative</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Asset&nbsp;Derivative</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Liability&nbsp;Derivative</B><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Written options</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(10,110,135</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Derivatives not subject to master netting or similar
agreements</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(2,895,194</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Total Derivatives subject to master netting or similar
agreements</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(7,214,941</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Statement of Assets and Liabilities location: Written options outstanding, at value. </TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund&#146;s derivative assets
and liabilities at fair value by type, which are reported gross in the Statement of Assets and Liabilities, are presented in the table above. The following table presents the Fund&#146;s derivative liabilities by counterparty, net of amounts
available for offset under a master netting agreement and net of the related collateral pledged by the Fund for such liabilities as of December&nbsp;31, 2016. </P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Counterparty</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Derivative<BR>Liabilities&nbsp;Subject&nbsp;to<BR>Master Netting<BR>Agreement</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Derivatives<BR>Available<BR>for Offset</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B><FONT STYLE="white-space:nowrap">Non-cash</FONT><BR>Collateral<BR>Pledged</B><SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP><B></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Cash<BR>Collateral<BR>Pledged</B><SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP><B></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Net Amount<BR>of Derivative<BR>Liabilities</B><SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP><B></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Barclays Bank PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(2,508,202</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(2,508,202</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Citibank, N.A.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(355,523</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(355,523</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Credit Suisse International</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(852,966</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(852,966</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Deutsche Bank AG</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,570,826</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,570,826</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Morgan Stanley&nbsp;&amp; Co. International PLC</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(101,868</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(101,868</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Soci&eacute;t&eacute; G&eacute;n&eacute;rale</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,279,544</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,279,544</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">UBS AG</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(546,012</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(546,012</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(7,214,941</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(7,214,941</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In some instances, the actual collateral pledged may be more than the amount shown due to overcollateralization. </TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Net amount represents the net amount payable to the counterparty in the event of default. </TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The effect of derivative
instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations and whose primary underlying risk exposure is equity price risk for the year ended December&nbsp;31, 2016 was as follows: </P>
<P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="53%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Derivative</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Realized Gain (Loss)<BR>on&nbsp;Derivatives&nbsp;Recognized<BR>in Income</B><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Change in Unrealized<BR>Appreciation&nbsp;(Depreciation)
on<BR>Derivatives&nbsp;Recognized&nbsp;in&nbsp;Income</B><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP><B></B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Written options</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(18,139,261</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(1,080,154</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Statement of Operations location: Net realized gain (loss) &#150; Written options. </TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Statement of Operations location: Change in unrealized appreciation (depreciation) &#150; Written options. </TD></TR></TABLE> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT
 COLOR="#547bcc">7&nbsp;&nbsp;Risks Associated with Foreign Investments </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Investing in securities issued by companies whose principal business activities are
outside the United States may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting
requirements of the U.S. securities laws. Certain foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments
in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitation on the removal of funds or other assets of the Fund, political or financial
instability or diplomatic and other developments which could affect such investments. Foreign securities </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">23</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Notes to Financial Statements&nbsp;&#151; continued
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers (particularly
those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker/dealers and
issuers than in the United States. </P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">8&nbsp;&nbsp;Fair Value Measurements </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in
valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">&#149; Level&nbsp;1 &#150;
quoted prices in active markets for identical investments </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">&#149; Level&nbsp;2 &#150; other significant observable inputs (including quoted prices for similar
investments, interest rates, prepayment speeds, credit risk, etc.) </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">&#149; Level&nbsp;3 &#150; significant unobservable inputs (including a fund&#146;s own
assumptions in determining the fair value of investments) </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy,
the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with
investing in those securities. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">At December&nbsp;31, 2016, the hierarchy of inputs used in valuing the Fund&#146;s investments and open derivative instruments, which
are carried at value, were as follows: </P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Asset Description</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Level&nbsp;1</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Level&nbsp;2</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Level&nbsp;3</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="17"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="16"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Common Stocks</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Consumer Discretionary</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">100,971,592</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">70,547,166</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">171,518,758</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Consumer Staples</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53,613,813</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72,219,280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">125,833,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Energy</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,802,338</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35,005,877</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59,808,215</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Financials</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63,306,121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88,742,008</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">152,048,129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Health Care</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76,561,792</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72,530,102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">149,091,894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Industrials</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,265,616</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69,562,743</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111,828,359</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Information Technology</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">220,444,743</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29,422,013</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">249,866,756</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Materials</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,307,791</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40,384,208</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51,691,999</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Real Estate</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,941,636</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,347,118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,288,754</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Telecommunication Services</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,855,501</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,212,847</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36,068,348</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Utilities</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">13,180,664</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">8,138,787</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">21,319,451</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Total Common Stocks</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>625,251,607</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>519,112,149</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>*&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1,144,363,756</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Total Investments</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>625,251,607</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>519,112,149</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>1,144,363,756</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="4" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Liability Description</B></P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial">Call Options Written</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(2,895,194</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(7,214,941</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">$</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right">(10,110,135</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">)&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><B>Total</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(2,895,194</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(7,214,941</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>$</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><B>(10,110,135</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><B>)&nbsp;</B></TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign
markets. </TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund held no investments or other financial instruments as of December&nbsp;31, 2015 whose fair value was determined using Level&nbsp;3
inputs. At December&nbsp;31, 2016, there were no investments transferred between Level&nbsp;1 and Level&nbsp;2 during the year then ended. </P>
<P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><FONT COLOR="#547bcc">9&nbsp;&nbsp;Legal Proceedings </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:8pt; font-family:arial">In November 2010, the
Fund was named as defendant and a putative member of the proposed defendant class of shareholders in the case entitled Official Committee of Unsecured Creditors (UCC) of the Tribune Company v. FitzSimons, et al. as a result of its ownership of
shares in the Tribune Company (Tribune) in 2007 when Tribune effected a leveraged buyout transaction (LBO) and was converted to a privately held company. The UCC, which has been replaced by a Litigation Trustee pursuant to Tribune&#146;s plan of
reorganization, seeks to recover payments of the proceeds of the LBO. This action is now part </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">24</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Notes to Financial Statements&nbsp;&#151; continued
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">of a multi-district litigation proceeding in the Southern District of New York. The value of the proceeds received by the Fund is approximately $891,000 (equal to 0.08%
of net assets at December&nbsp;31, 2016). </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund cannot predict the outcome of these proceedings or the effect, if any, on the Fund&#146;s net asset value. The
attorneys&#146; fees and costs related to these actions are expensed by the Fund as incurred. </P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">25</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Report of Independent Registered Public Accounting Firm
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">To the Trustees and Shareholders of Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities
Fund: </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">We have audited the accompanying statement of assets and liabilities of Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT
STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (the &#147;Fund&#148;), including the portfolio of investments, as of December 31, 2016, and the related statement of operations for the year then ended, the statements of changes in net
assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund&#146;s management.
Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">We conducted our audits in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of
material misstatement. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund&#146;s internal control over financial reporting. Accordingly, we express no such opinion. An
audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. Our procedures included confirmation of securities owned as of December 31, 2016, by correspondence with the custodian and brokers; where replies were not received from brokers, we performed other auditing
procedures. We believe that our audits provide a reasonable basis for our opinion. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">In our opinion, such financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund as of December 31, 2016, the
results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting
principles generally accepted in the United States of America. </P> <P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:8pt; font-family:arial">DELOITTE&nbsp;&amp; TOUCHE LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Boston, Massachusetts </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">February 17, 2017 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">26</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Federal Tax Information (Unaudited) </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> you received in February 2017 showed the tax status of all distributions paid to your account in calendar year
2016. Shareholders are advised to consult their own tax adviser with respect to the tax consequences of their investment in the Fund. As required by the Internal Revenue Code and/or regulations, shareholders must be notified regarding the status of
qualified dividend income for individuals and the dividends received deduction for corporations. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Qualified Dividend Income.</B>&nbsp;&nbsp;For the fiscal year
ended December&nbsp;31, 2016, the Fund designates approximately $31,326,299, or up to the maximum amount of such dividends allowable pursuant to the Internal Revenue Code, as qualified dividend income eligible for the reduced tax rate of 15%. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Dividends Received Deduction.</B>&nbsp;&nbsp;Corporate shareholders are generally entitled to take the dividends received deduction on the portion of the Fund&#146;s
dividend distribution that qualifies under tax law. For the Fund&#146;s fiscal 2016 ordinary income dividends, 75.72% qualifies for the corporate dividends received deduction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">27</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Dividend Reinvestment Plan </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Fund offers a dividend reinvestment plan (Plan) pursuant to which shareholders may elect to have distributions automatically reinvested in common shares (Shares) of
the Fund. You may elect to participate in the Plan by completing the Dividend Reinvestment Plan Application Form. If you do not participate, you will receive all distributions in cash paid by check mailed directly to you by American Stock
Transfer&nbsp;&amp; Trust Company, LLC (AST) as dividend paying agent. On the distribution payment date, if the NAV per Share is equal to or less than the market price per Share plus estimated brokerage commissions, then new Shares will be issued.
The number of Shares shall be determined by the greater of the NAV per Share or 95% of the market price. Otherwise, Shares generally will be purchased on the open market by AST, the Plan agent (Agent). Distributions subject to income tax (if any)
are taxable whether or not Shares are reinvested. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">If your Shares are in the name of a brokerage firm, bank, or other nominee, you can ask the firm or nominee to
participate in the Plan on your behalf. If the nominee does not offer the Plan, you will need to request that the Fund&#146;s transfer agent <FONT STYLE="white-space:nowrap">re-register</FONT> your Shares in your name or you will not be able to
participate. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">The Agent&#146;s service fee for handling distributions will be paid by the Fund. Plan participants will be charged their pro rata share of brokerage
commissions on all open-market purchases. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">Plan participants may withdraw from the Plan at any time by writing to the Agent at the address noted on the following
page. If you withdraw, you will receive Shares in your name for all Shares credited to your account under the Plan. If a participant elects by written notice to the Agent to sell part or all of his or her Shares and remit the proceeds, the Agent is
authorized to deduct a $5.00 fee plus brokerage commissions from the proceeds. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8pt; font-family:arial">If you wish to participate in the Plan and your Shares are held in your own name, you
may complete the form on the following page and deliver it to the Agent. Any inquiries regarding the Plan can be directed to the Agent at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-439-6787.</FONT></FONT></FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">28</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Application for Participation in Dividend Reinvestment Plan
</FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="font-size:30pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; margin-left:1%; margin-right:1%; font-size:8pt; font-family:arial">This form is for shareholders who hold their common shares in their own names. If your common shares are held in the
name of a brokerage firm, bank, or other nominee, you should contact your nominee to see if it will participate in the Plan on your behalf. If you wish to participate in the Plan, but your brokerage firm, bank, or nominee is unable to participate on
your behalf, you should request that your common shares be <FONT STYLE="white-space:nowrap">re-registered</FONT> in your own name which will enable your participation in the Plan. </P></div>
<P STYLE="margin-top:2pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial">The following authorization and appointment is given with the understanding that I may terminate it at any time by terminating my participation in the
Plan as provided in the terms and conditions of the Plan. </P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:18.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:48%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:56%; font-size:8pt; font-family:arial">Please print exact name on
account </P> <P STYLE="line-height:18.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:48%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:56%; font-size:8pt; font-family:arial">Shareholder
signature
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date </P> <P STYLE="line-height:18.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:48%;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:56%; font-size:8pt; font-family:arial">Shareholder signature
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:56%; font-size:8pt; font-family:arial">Please sign exactly as your common shares are
registered. All persons whose names appear on the share certificate must sign. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial"><B>YOU SHOULD NOT RETURN THIS FORM IF YOU WISH TO RECEIVE YOUR
DISTRIBUTIONS IN CASH. THIS IS NOT A PROXY. </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial"><I>This authorization form, when signed, should be mailed to the following address: </I></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">c/o American Stock Transfer&nbsp;&amp; Trust Company, LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">P.O. Box 922 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">Wall Street Station </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">New York, NY 10269-0560 </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;margin-left:1%;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial"><B>Number of Employees </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial">The Fund is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as a <FONT
STYLE="white-space:nowrap">closed-end</FONT> management investment company and has no employees. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial"><B>Number of Shareholders </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial">As of December&nbsp;31, 2016, Fund records indicate that there are 31 registered shareholders and approximately 54,051 shareholders owning the Fund shares
in street name, such as through brokers, banks, and financial intermediaries. </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial">If you are a street name shareholder and wish to receive Fund reports
directly, which contain important information about the Fund, please write or call: </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">Eaton Vance Distributors, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">Two International Place </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial">Boston, MA 02110 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:40%; font-size:8pt; font-family:arial"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-262-1122</FONT></FONT></FONT> </P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial"><B>New York Stock Exchange symbol </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; margin-left:1%; font-size:8pt; font-family:arial">The New York
Stock Exchange symbol is ETW. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">29</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Management and Organization </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><B>Fund Management.</B>&nbsp;&nbsp;The Trustees of Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (the Fund) are responsible for the overall management and supervision of the Fund&#146;s affairs. The Trustees and officers of the Fund are listed below. Except as indicated, each
individual has held the office shown or other offices in the same company for the last five years. The &#147;Noninterested Trustees&#148; consist of those Trustees who are not &#147;interested persons&#148; of the Fund, as that term is defined under
the 1940 Act. The business address of each Trustee and officer is Two International Place, Boston, Massachusetts 02110. As used below, &#147;EVC&#148; refers to Eaton Vance Corp., &#147;EV&#148; refers to Eaton Vance, Inc., &#147;EVM&#148; refers to
Eaton Vance Management, &#147;BMR&#148; refers to Boston Management and Research, &#147;EVMI&#148; refers to Eaton Vance Management (International) Limited and &#147;EVD&#148; refers to Eaton Vance Distributors, Inc. EVC and EV are the corporate
parent and trustee, respectively, of EVM and BMR. EVMI is an indirect, wholly-owned subsidiary of EVC. EVD is a wholly-owned subsidiary of EVC. Each officer affiliated with Eaton Vance may hold a position with other Eaton Vance affiliates that is
comparable to his or her position with EVM listed below. Each Trustee oversees 177 portfolios in the Eaton Vance Complex (including all master and feeder funds in a master feeder structure). Each officer serves as an officer of certain other Eaton
Vance funds. Each Trustee serves for a three year term. Each officer serves until his or her successor is elected. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="52%"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc"><B>Name and Year of Birth</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Position(s)</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>with&nbsp;the</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Fund</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Term Expiring;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Trustee</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Since</B><SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Principal Occupation(s) and Directorships</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>During Past Five Years and Other Relevant Experience</B></P></TD></TR>


<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Interested Trustee</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Thomas E. Faust Jr.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1958</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;I</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2018.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee&nbsp;since&nbsp;2007.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Chairman, Chief Executive Officer and President of EVC, Director and President of EV, Chief Executive Officer and President of EVM and BMR, and
Director of EVD and EVMI. Trustee and/or officer of 177 registered investment companies. Mr.&nbsp;Faust is an interested person because of his positions with EVM, BMR, EVD, EVMI, EVC and EV, which are affiliates of the Fund.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP> </B>Director of EVC and Hexavest Inc. (investment management
firm).</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Noninterested Trustees</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Scott E. Eston</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1956</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;I</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2018.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee
since 2011.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Private investor. Formerly held various positions at Grantham, Mayo, Van Otterloo and Co., LLC (investment management firm) (1997-2009), including
Chief Operating Officer (2002-2009), Chief Financial Officer (1997-2009) and Chairman of the Executive Committee (2002-2008); President and Principal Executive Officer, GMO Trust <FONT STYLE="white-space:nowrap">(open-end</FONT> registered
investment company) <FONT STYLE="white-space:nowrap">(2006-2009).</FONT> Former Partner, Coopers and Lybrand LLP (now PricewaterhouseCoopers) (a registered public accounting firm) (1987-1997). Mr.&nbsp;Eston has apprised the Board of Trustees that
he intends to retire as a Trustee of all Eaton Vance funds effective September&nbsp;30, 2017.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></B><I> </I><B></B>None.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Mark R. Fetting<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1954</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;III</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2017.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee&nbsp;since&nbsp;2016.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Private investor. Formerly held various positions at Legg Mason, Inc. (investment management firm) (2000-2012), including President, Chief Executive
Officer, Director and Chairman (2008-2012), Senior Executive Vice President <FONT STYLE="white-space:nowrap">(2004-2008)</FONT> and Executive Vice President (2001-2004). Formerly, President of Legg Mason family of funds (2001-2008). Formerly,
Division President and Senior Officer of Prudential Financial Group, Inc. and related companies (investment management firm) (1991-2000).</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the
Last Five Years.</B> Formerly, Director and Chairman of Legg Mason, Inc. (2008-2012); Director/Trustee and Chairman of Legg Mason family of funds (14 funds) (2008-2012); and Director/Trustee of the Royce family of funds (35 funds)
(2001-2012).</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Cynthia E. Frost</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1961</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;I</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2018.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee
since 2014.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Private investor. Formerly, Chief Investment Officer of Brown University (university endowment) (2000-2012); Portfolio Strategist for Duke Management
Company (university endowment manager) (1995-2000); Managing Director, Cambridge Associates (investment consulting company) (1989-1995); Consultant, Bain and Company (management consulting firm) (1987-1989); Senior Equity Analyst, BA Investment
Management Company (1983-1985).</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.</B><I> </I>None.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">George J. Gorman</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1952</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;II</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2019.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee
since 2014.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Principal at George J. Gorman LLC (consulting firm). Formerly, Senior Partner at Ernst&nbsp;&amp; Young LLP (a registered public accounting firm)
(1974-2009).</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.</B><I> </I><B></B>Formerly, Trustee of the BofA Funds Series Trust (11 funds) (2011-2014) and of the Ashmore
Funds (9 funds) <FONT STYLE="white-space:nowrap">(2010-2014).</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">30</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Management and Organization &#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="52%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc"><B>Name and Year of Birth</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Position(s)</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>with the</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Fund</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Term Expiring;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Trustee</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Since</B><SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Principal Occupation(s) and Directorships</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>During Past Five Years and Other Relevant Experience</B></P></TD></TR>


<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Noninterested Trustees (continued)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Valerie A. Mosley</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1960</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;III</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2017.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee&nbsp;since&nbsp;2014.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Chairwoman and Chief Executive Officer of Valmo Ventures (a consulting and investment firm). Former Partner and Senior Vice President, Portfolio
Manager and Investment Strategist at Wellington Management Company, LLP (investment management firm) (1992-2012). Former Chief Investment Officer, PG Corbin Asset Management (1990-1992). Formerly worked in institutional corporate bond sales at
Kidder Peabody (1986-1990).</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B> Director of Dynex Capital, Inc.
(mortgage REIT) (since 2013).</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">William H. Park</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1947</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Chairperson of the Board and Class&nbsp;II Trustee</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2019.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Chairperson of the Board since 2016 and Trustee since 2003.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Private investor. Formerly, Consultant (management and transactional) <FONT STYLE="white-space:nowrap">(2012-2014).</FONT> Formerly, Chief Financial
Officer, Aveon Group L.P. (investment management firm) (2010-2011). Formerly, Vice Chairman, Commercial Industrial Finance Corp. (specialty finance company) (2006-2010). Formerly, President and Chief Executive Officer, Prizm Capital Management, LLC
(investment management firm) (2002-2005). Formerly, Executive Vice President and Chief Financial Officer, United Asset Management Corporation (investment management firm) (1982-2001). Formerly, Senior Manager, Price Waterhouse (now
PricewaterhouseCoopers) (a registered public accounting firm) <FONT STYLE="white-space:nowrap">(1972-1981).</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></B><I> </I>None.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Helen Frame Peters</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1948</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;III</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2017.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee
since 2008.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Professor of Finance, Carroll School of Management, Boston College. Formerly, Dean, Carroll School of Management, Boston College (2000-2002).
Formerly, Chief Investment Officer, Fixed Income, Scudder Kemper Investments (investment management firm) (1998-1999). Formerly, Chief Investment Officer, Equity and Fixed Income, Colonial Management Associates (investment management firm) <FONT
STYLE="white-space:nowrap">(1991-1998).</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B> Formerly,
Director of BJ&#146;s Wholesale Club, Inc. (wholesale club retailer) (2004-2011). Formerly, Trustee of SPDR Index Shares Funds and SPDR Series Trust (exchange traded funds) <FONT STYLE="white-space:nowrap">(2000-2009).</FONT> Formerly, Director of
Federal Home Loan Bank of Boston (a bank for banks) (2007-2009).</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Susan J. Sutherland</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1957</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;II</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2019.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee
since 2015.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Private investor. Formerly, Associate, Counsel and Partner at Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP (law firm) (1982-2013).</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.</B> Formerly, Director of Montpelier Re Holdings Ltd. (global provider of customized insurance and reinsurance products) <FONT
STYLE="white-space:nowrap">(2013-2015).</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Harriett Tee Taggart</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1948</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;II</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2019.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee
since 2011.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Managing Director, Taggart Associates (a professional practice firm). Formerly, Partner and Senior Vice President, Wellington Management Company, LLP
(investment management firm) (1983-2006).</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five Years.<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></B><I> </I>Director of
Albemarle Corporation (chemicals manufacturer) (since 2007) and The Hanover Group (specialty property and casualty insurance company) (since 2009). Formerly, Director of Lubrizol Corporation (specialty chemicals) (2007-2011).</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Ralph F. Verni</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1943</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;III</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2017.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee
since 2005.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Consultant and private investor. Formerly, Chief Investment Officer (1982-1992), Chief Financial Officer (1988-1990) and Director (1982-1992), New
England Life. Formerly, Chairperson, New England Mutual Funds (1982-1992). Formerly, President and Chief Executive Officer, State Street Management&nbsp;&amp; Research <FONT STYLE="white-space:nowrap">(1992-2000).</FONT> Formerly, Chairperson, State
Street Research Mutual Funds <FONT STYLE="white-space:nowrap">(1992-2000).</FONT> Formerly, Director, W.P. Carey, LLC (1998-2004) and First Pioneer Farm Credit Corp. (financial services cooperative) (2002-2006). Consistent with the Trustee
retirement policy, Mr.&nbsp;Verni is currently expected to retire as a Trustee of all Eaton Vance funds effective July&nbsp;1, 2017.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last
Five Years.<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP> </B>None.</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">31</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial"><FONT COLOR="#547bcc">Tax-Managed Global Buy-Write Opportunities Fund </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial">December
31, 2016 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">Management and Organization&nbsp;&#151; continued </FONT></P>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="52%"></TD></TR>

<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc"><B>Name and Year of Birth</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Position(s)</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>with the</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Fund</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Term&nbsp;Expiring;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Trustee</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Since</B><SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP><B></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Principal Occupation(s) and Directorships</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>During Past Five Years and Other Relevant Experience</B></P></TD></TR>


<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Noninterested Trustees (continued)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Scott E. Wennerholm<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1959</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Class&nbsp;I</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center">Until 2018.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial" ALIGN="center">Trustee&nbsp;since&nbsp;2016.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Consultant at GF Parish Group (executive recruiting firm). Trustee at Wheelock College (postsecondary institution) (since 2012). Formerly, Chief
Operating Officer and Executive Vice President at BNY Mellon Asset Management (investment management firm) (2005-2011). Formerly, Chief Operating Officer and Chief Financial Officer at Natixis Global Asset Management (investment management firm)
(1997-2004). Formerly, Vice President at Fidelity Investments Institutional Services (investment management firm) (1994-1997).</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial"><B>Directorships in the Last Five
Years.</B> None.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top" COLSPAN="5"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.41em; text-indent:-1.41em; font-size:8.5pt; font-family:arial"><FONT COLOR="#547bcc">Principal Officers who are not Trustees</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc"><B>Name and Year of Birth</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Position(s)</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>with the</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Fund</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Officer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Since</B><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP><B></B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #547bcc">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #547bcc"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Principal Occupation(s)</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="center"><B>During Past Five Years</B></P></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Edward J. Perkin</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1972</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">President</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2014</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">Vice President and Chief Equity Investment Officer of EVM and BMR. Prior to joining EVM in 2014, Mr.&nbsp;Perkin was Chief Investment Officer, International and Emerging Markets Equity, and Managing Director, Portfolio Manager,
Europe, EAFE and Global, at Goldman Sachs Asset Management.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Maureen A. Gemma</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1960</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Vice President, Secretary and Chief Legal Officer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2005</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">Vice President of EVM and BMR. Also Vice President of Calvert Research and Management (&#147;CRM&#148;).</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">James F. Kirchner</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1967</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Treasurer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2007</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">Vice President of EVM and BMR. Also Vice President of CRM.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial">Paul M. O&#146;Neil</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7.5pt; font-family:arial">1953</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Chief Compliance Officer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2004</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">Vice President of EVM and BMR.</TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Year first appointed to serve as Trustee for a fund in the Eaton Vance family of funds. Each Trustee has served continuously since appointment unless indicated otherwise. Each Trustee holds office until the annual
meeting for the year in which his or her term expires and until his or her successor is elected and qualified, subject to a prior death, resignation, retirement, disqualification or removal. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">During their respective tenures, the Trustees (except for Mmes. Frost and Sutherland and Messrs. Fetting, Gorman and Wennerholm) also served as Board members of one or more of the following funds (which operated in the
years noted): eUnits<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP> 2 Year U.S. Market Participation Trust: Upside to Cap / Buffered Downside (launched in 2012 and terminated in 2014);
eUnits<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP> 2 Year U.S. Market Participation Trust II: Upside to Cap / Buffered Downside (launched in 2012 and terminated in 2014); and Eaton Vance National Municipal Income Trust (launched in 1998
and terminated in 2009). However, Ms.&nbsp;Mosley did not serve as a Board member of eUnits<SUP STYLE="font-size:85%; vertical-align:top">TM</SUP> 2 Year U.S. Market Participation Trust: Upside to Cap / Buffered Downside (launched in 2012 and
terminated in 2014). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Messrs. Fetting and Wennerholm began serving as Trustees effective September&nbsp;1, 2016. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(4)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Year first elected to serve as officer of a fund in the Eaton Vance family of funds when the officer has served continuously. Otherwise, year of most recent election as an officer of a fund in the Eaton Vance family of
funds. Titles may have changed since initial election. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">32</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:arial">Eaton Vance Funds </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#547bcc">IMPORTANT NOTICES </FONT></P> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #547bcc">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><B><FONT STYLE="font-family:arial" COLOR="#547bcc">Privacy.</FONT></B>&nbsp;&nbsp;The Eaton Vance
organization is committed to ensuring your financial privacy. Each of the financial institutions identified below has in effect the following policy (&#147;Privacy Policy&#148;) with respect to nonpublic personal information about its customers:
</P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="0%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Only such information received from you, through application forms or otherwise, and information about your Eaton Vance fund transactions will be collected. This may include information such as name, address, social
security number, tax status, account balances and transactions. </TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="0%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">None of such information about you (or former customers) will be disclosed to anyone, except as permitted by law (which includes disclosure to employees necessary to service your account). In the normal course of
servicing a customer&#146;s account, Eaton Vance may share information with unaffiliated third parties that perform various required services such as transfer agents, custodians and broker-dealers. </TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="0%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information. </TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="0%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">We reserve the right to change our Privacy Policy at any time upon proper notification to you. Customers may want to review our Privacy Policy periodically for changes by accessing the link on our homepage:
www.eatonvance.com. </TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial">Our pledge of privacy applies to the following entities within the Eaton Vance organization: the Eaton Vance Family of Funds,
Eaton Vance Management, Eaton Vance Investment Counsel, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Management&#146;s Real Estate Investment Group and Boston Management and
Research. In addition, our Privacy Policy applies only to those Eaton Vance customers who are individuals and who have a direct relationship with us. If a customer&#146;s account (i.e., fund shares) is held in the name of a third-party financial
advisor/broker-dealer, it is likely that only such advisor&#146;s privacy policies apply to the customer. This notice supersedes all previously issued privacy disclosures. For more information about Eaton Vance&#146;s Privacy Policy, please call <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-262-1122.</FONT></FONT></FONT> </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><B><FONT
STYLE="font-family:arial" COLOR="#547bcc">Delivery of Shareholder Documents</FONT><FONT STYLE="font-family:arial" COLOR="#547bcc">.</FONT></B>&nbsp;&nbsp;The Securities and Exchange Commission (SEC) permits funds to deliver only one copy of
shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called &#147;householding&#148; and it helps
eliminate duplicate mailings to shareholders.<I>&nbsp;American Stock Transfer and Trust Company, LLC (&#147;AST&#148;), the <FONT STYLE="white-space:nowrap">closed-end</FONT> funds transfer agent, or your financial advisor, may household the mailing
of your documents indefinitely unless you instruct AST, or your financial advisor, otherwise.</I>&nbsp;If you would prefer that your Eaton Vance documents not be householded, please contact AST or your financial advisor. Your instructions that
householding not apply to delivery of your Eaton Vance documents will typically be effective within 30 days of receipt by AST or your financial advisor. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><B><FONT
STYLE="font-family:arial" COLOR="#547bcc">Portfolio Holdings.</FONT></B>&nbsp;&nbsp;Each Eaton Vance Fund and its underlying Portfolio(s) (if applicable) will file a schedule of portfolio holdings on Form <FONT STYLE="white-space:nowrap">N-Q</FONT>
with the SEC for the first and third quarters of each fiscal year. The Form <FONT STYLE="white-space:nowrap">N-Q</FONT> will be available on the Eaton Vance website at www.eatonvance.com, by calling Eaton Vance at <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-262-1122</FONT></FONT></FONT> or in the EDGAR database on the SEC&#146;s website at www.sec.gov. Form <FONT STYLE="white-space:nowrap">N-Q</FONT> may also be reviewed and copied at
the SEC&#146;s public reference room in Washington, D.C. (call <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-732-0330</FONT></FONT></FONT> for information on the operation of the public
reference room). </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><B><FONT STYLE="font-family:arial" COLOR="#547bcc">Proxy Voting.</FONT></B>&nbsp;&nbsp;From time to time, funds are required to vote proxies
related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds&#146; and Portfolios&#146; Boards. You may obtain a
description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent <FONT STYLE="white-space:nowrap">12-month</FONT> period ended June&nbsp;30, without
charge, upon request, by calling <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-262-1122</FONT></FONT></FONT> and by accessing the SEC&#146;s website at www.sec.gov. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><B><FONT STYLE="font-family:arial" COLOR="#547bcc">Share Repurchase Program.</FONT></B>&nbsp;&nbsp;The Fund&#146;s Board of Trustees has approved a share repurchase
program authorizing the Fund to repurchase up to 10% of its outstanding common shares as of the approved date in open-market transactions at a discount to net asset value. The repurchase program does not obligate the Fund to purchase a specific
amount of shares. The Fund&#146;s repurchase activity, including the number of shares purchased, average price and average discount to net asset value, is disclosed in the Fund&#146;s annual and semi-annual reports to shareholders. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><B><FONT STYLE="font-family:arial" COLOR="#547bcc">Additional Notice to Shareholders.</FONT></B>&nbsp;&nbsp;If applicable, a Fund may also redeem or purchase its
outstanding preferred shares in order to maintain compliance with regulatory requirements, borrowing or rating agency requirements or for other purposes as it deems appropriate or necessary. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><B><FONT STYLE="font-family:arial" COLOR="#547bcc"><FONT STYLE="white-space:nowrap">Closed-End</FONT> Fund Information.</FONT></B>&nbsp;&nbsp;Eaton Vance <FONT
STYLE="white-space:nowrap">closed-end</FONT> funds make fund performance data and certain information about portfolio characteristics available on the Eaton Vance website shortly after the end of each month. Other information about the funds is
available on the website. The funds&#146; net asset value per share is readily accessible on the Eaton Vance website. Portfolio holdings for the most recent <FONT STYLE="white-space:nowrap">month-end</FONT> are also posted to the website
approximately 30 days following the end of the month. This information is available at www.eatonvance.com on the fund information pages under &#147;Individual Investors &#151; <FONT STYLE="white-space:nowrap">Closed-End</FONT> Funds&#148;. </P>
<P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">

<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">33</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="font-size:120px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="font-size:120px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:60px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:arial" SIZE="2">This Page Intentionally Left Blank </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="font-size:120px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="font-size:120px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:60px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:arial" SIZE="2">This Page Intentionally Left Blank </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="font-size:120px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="font-size:120px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:60px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:arial" SIZE="2">This Page Intentionally Left Blank </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Investment Adviser and Administrator </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><B>Eaton Vance Management </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Two International Place
</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Boston, MA 02110 </FONT></P> <P STYLE="margin-top:26pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc"><FONT
STYLE="white-space:nowrap">Sub-Adviser</FONT> </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><B>Parametric Portfolio Associates LLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">1918 Eighth Avenue, Suite 3100 </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Seattle, WA 98101 </FONT></P> <P STYLE="margin-top:26pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Custodian
</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><B>State Street Bank and Trust Company </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">State
Street Financial Center, One Lincoln Street </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Boston, MA 02111
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Transfer Agent </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><B>American Stock Transfer&nbsp;&amp; Trust Company, LLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">6201 15th Avenue </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Brooklyn, NY 11219
</FONT></P> <P STYLE="margin-top:26pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Independent Registered Public Accounting Firm </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><B>Deloitte&nbsp;&amp; Touche LLP </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">200 Berkeley Street
</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Boston, MA 02116-5022 </FONT></P>
<P STYLE="margin-top:26pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#547bcc">Fund Offices </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Two International
Place </FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#333333">Boston, MA 02110
</FONT></P></DIV><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g321638u44053_bwlogo.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:20pt; margin-bottom:0pt; font-size:9pt; font-family:arial">2552&nbsp;&nbsp;&nbsp;&nbsp;12.31.16 </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;2. Code of Ethics </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The registrant has adopted a code of ethics applicable to its Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer. The
registrant undertakes to provide a copy of such code of ethics to any person upon request, without charge, by calling
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-262-1122.</FONT></FONT></FONT> The registrant has amended the code of ethics as described in Form <FONT STYLE="white-space:nowrap">N-CSR</FONT>
during the period covered by this report to make clarifying changes consistent with Rule <FONT STYLE="white-space:nowrap">21F-17</FONT> of the Securities Exchange Act of 1934, as amended. The registrant has not granted any waiver, including an
implicit waiver, from a provision of the code of ethics as described in Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> during the period covered by this report. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;3. Audit Committee Financial Expert </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
registrant&#146;s Board has designated William H. Park, an independent trustee, as its audit committee financial expert. Mr.&nbsp;Park is a certified public accountant who is a private investor. Previously, he served as a consultant, as the Chief
Financial Officer of Aveon Group, L.P. (an investment management firm), as the Vice Chairman of Commercial Industrial Finance Corp. (specialty finance company), as President and Chief </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Executive Officer of Prizm Capital Management, LLC (investment management firm), as Executive Vice President and Chief Financial Officer of United Asset Management Corporation (an institutional
investment management firm) and as a Senior Manager at Price Waterhouse (now PricewaterhouseCoopers) (an independent registered public accounting firm). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;4. Principal Accountant Fees and Services </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rule
<FONT STYLE="white-space:nowrap">2-01(c)(1)(ii)(A)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> (the &#147;Loan Rule&#148;) prohibits an accounting firm, such as the Fund&#146;s principal accountant, Deloitte&nbsp;&amp; Touche
LLP (&#147;D&amp;T&#148;), from having certain financial relationships with their audit clients and affiliated entities. Specifically, the Loan Rule provides, in relevant part, that an accounting firm generally would not be independent if it
receives a loan from a lender that is a &#147;record or beneficial owner of more than ten percent of the audit client&#146;s equity securities.&#148; Based on information provided to the Audit Committee of the Board of Trustees (the &#147;Audit
Committee&#148;) of the Eaton Vance family of funds by D&amp;T, certain relationships between D&amp;T and its affiliates (&#147;Deloitte Entities&#148;) and its lenders who are record owners of shares of one or more funds within the Eaton Vance
family of funds (the &#147;Funds&#148;) implicate the Loan Rule, calling into question D&amp;T&#146;s independence with respect to the Funds. The Funds are providing this disclosure to explain the facts and circumstances as well as D&amp;T&#146;s
conclusions concerning D&amp;T&#146;s objectivity and impartiality with respect to the audits of the Funds. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">D&amp;T advised the Audit Committee of its
conclusion that, in light of the facts surrounding its lending relationships, D&amp;T&#146;s objectivity and impartiality in the planning and conduct of the audits of the Funds financial statements will not be compromised, D&amp;T is in a position
to continue as the auditor for the Funds and no actions need to be taken with respect to previously issued reports by D&amp;T. D&amp;T has advised the Audit Committee that these conclusions were based in part on the following considerations:
(1)&nbsp;Deloitte Entity personnel responsible for managing the lending relationships have had no interactions with the audit engagement team; (2)&nbsp;the lending relationships are in good standing and the principal and interest payments are <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">up-to-date;</FONT></FONT> (3)&nbsp;the lending relationships are not significant to the Deloitte Entities or to D&amp;T. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;20, 2016, the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) issued <FONT STYLE="white-space:nowrap">no-action</FONT> relief to
another mutual fund complex (see Fidelity Management&nbsp;&amp; Research Company et al., <FONT STYLE="white-space:nowrap">No-Action</FONT> Letter (June 20, 2016) (the <FONT STYLE="white-space:nowrap">&#147;No-Action</FONT> Letter&#148;)) related to
the auditor independence issue described above. In the <FONT STYLE="white-space:nowrap">No-Action</FONT> Letter, the SEC indicated that it would not recommend enforcement action against the fund group if the auditor is not in compliance with the
Loan Rule provided that: (1)&nbsp;the auditor has complied with PCAOB Rule 3526(b)(1) and 3526(b)(2); (2) the auditor&#146;s <FONT STYLE="white-space:nowrap">non-compliance</FONT> under the Loan Rule is with respect to certain lending relationships;
and (3)&nbsp;notwithstanding such <FONT STYLE="white-space:nowrap">non-compliance,</FONT> the auditor has concluded that it is objective and impartial with respect to the issues encompassed within its engagement as auditor of the funds. Based on
information provided by D&amp;T, the requirements of the <FONT STYLE="white-space:nowrap">No-Action</FONT> Letter appear to be met with respect to D&amp;T&#146;s lending relationships described above. After giving consideration to the guidance
provided in the <FONT STYLE="white-space:nowrap">No-Action</FONT> Letter, D&amp;T affirmed to the Audit Committee that D&amp;T is an independent accountant with respect to the Funds within the meaning of the rules and standards of the PCAOB and the
securities laws and regulations administered by the SEC. The SEC has indicated that the <FONT STYLE="white-space:nowrap">no-action</FONT> relief will expire 18 months from its issuance. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(a) &#150;(d) </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table presents the aggregate
fees billed to the registrant for the registrant&#146;s fiscal years ended December&nbsp;31, 2015 and December&nbsp;31, 2016 by D&amp;T for professional services rendered for the audit of the registrant&#146;s annual financial statements and fees
billed for other services rendered by D&amp;T during such periods. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:66.20pt; font-size:8pt; font-family:Times New Roman"><B>Fiscal Years Ended</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>12/31/15</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>12/31/16</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Audit Fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">44,050</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">54,450</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Audit-Related Fees<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax Fees<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,562</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,824</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">All Other Fees<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">56,612</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">67,274</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Audit-related fees consist of the aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit of financial statements and are not reported under the category of
audit fees. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Tax fees consist of the aggregate fees billed for professional services rendered by the principal accountant relating to tax compliance, tax advice, and tax planning and specifically include fees for tax return
preparation and other related tax compliance/planning matters. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">All other fees consist of the aggregate fees billed for products and services provided by the principal accountant other than audit, audit-related, and tax services. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e)(1) The registrant&#146;s audit committee has adopted policies and procedures relating to the <FONT STYLE="white-space:nowrap">pre-approval</FONT> of
services provided by the registrant&#146;s principal accountant (the <FONT STYLE="white-space:nowrap">&#147;Pre-Approval</FONT> Policies&#148;). The <FONT STYLE="white-space:nowrap">Pre-Approval</FONT> Policies establish a framework intended to
assist the audit committee in the proper discharge of its <FONT STYLE="white-space:nowrap">pre-approval</FONT> responsibilities. As a general matter, the <FONT STYLE="white-space:nowrap">Pre-Approval</FONT> Policies (i)&nbsp;specify certain types of
audit, audit-related, tax, and other services determined to be <FONT STYLE="white-space:nowrap">pre-approved</FONT> by the audit committee; and (ii)&nbsp;delineate specific procedures governing the mechanics of the
<FONT STYLE="white-space:nowrap">pre-approval</FONT> process, including the approval and monitoring of audit and <FONT STYLE="white-space:nowrap">non-audit</FONT> service fees. Unless a service is specifically
<FONT STYLE="white-space:nowrap">pre-approved</FONT> under the <FONT STYLE="white-space:nowrap">Pre-Approval</FONT> Policies, it must be separately <FONT STYLE="white-space:nowrap">pre-approved</FONT> by the audit committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The <FONT STYLE="white-space:nowrap">Pre-Approval</FONT> Policies and the types of audit and <FONT STYLE="white-space:nowrap">non-audit</FONT> services <FONT
STYLE="white-space:nowrap">pre-approved</FONT> therein must be reviewed and ratified by the registrant&#146;s audit committee at least annually. The registrant&#146;s audit committee maintains full responsibility for the appointment, compensation,
and oversight of the work of the registrant&#146;s principal accountant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e)(2) No services described in paragraphs (b)-(d) above were approved by the
registrant&#146;s audit committee pursuant to the &#147;de minimis exception&#148; set forth in Rule <FONT STYLE="white-space:nowrap">2-01(c)(7)(i)(C)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) Not applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g)<B> </B>The following table presents
(i)&nbsp;the aggregate <FONT STYLE="white-space:nowrap">non-audit</FONT> fees (i.e., fees for audit-related, tax, and other services) billed to the registrant by D&amp;T for the registrant&#146;s fiscal years ended December&nbsp;31, 2015 and
December&nbsp;31, 2016; and (ii)&nbsp;the aggregate <FONT STYLE="white-space:nowrap">non-audit</FONT> fees (i.e., fees for audit-related, tax, and other services) billed to the Eaton Vance organization by D&amp;T for the same time periods. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:66.20pt; font-size:8pt; font-family:Times New Roman"><B>Fiscal Years Ended</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>12/31/15</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>12/31/16</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Registrant</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,562</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">12,824</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Eaton Vance<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">56,434</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">46,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The investment adviser to the registrant, as well as any of its affiliates that provide ongoing services to the registrant, are subsidiaries of Eaton Vance Corp. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h) The registrant&#146;s audit committee has considered whether the provision by the registrant&#146;s principal accountant of
<FONT STYLE="white-space:nowrap">non-audit</FONT> services to the registrant&#146;s investment adviser and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that were not
pre-approved pursuant to Rule <FONT STYLE="white-space:nowrap">2-01(c)(7)(ii)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> is compatible with maintaining the principal accountant&#146;s independence. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5. Audit Committee of Listed Registrants </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities and Exchange Act of
1934, as amended. Ralph F. Verni (Chair), Scott E. Eston, George J. Gorman, William H. Park and Scott E. Wennerholm are the members of the registrant&#146;s audit committee. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;6. Schedule of Investments </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please see schedule
of investments contained in the Report to Stockholders included under Item 1 of this Form <FONT STYLE="white-space:nowrap">N-CSR.</FONT> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;7.
Disclosure of Proxy Voting Policies and Procedures for <FONT STYLE="white-space:nowrap">Closed-End</FONT> Management Investment Companies </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of
Trustees of the Trust has adopted a proxy voting policy and procedure (the &#147;Fund Policy&#148;), pursuant to which the Trustees have delegated proxy voting responsibility to the Fund&#146;s investment adviser and adopted the investment
adviser&#146;s proxy voting policies and procedures (the &#147;Policies&#148;) which are described below. The Trustees will review the Fund&#146;s proxy voting records from time to time and will annually consider approving the Policies for the
upcoming year. In the event that a conflict of interest arises between the Fund&#146;s shareholders and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund, the investment adviser will generally refrain
from voting the proxies related to the companies giving rise to such conflict until it consults with the Board&#146;s Special Committee except as contemplated under the Fund Policy. The Board&#146;s Special Committee will instruct the investment
adviser on the appropriate course of action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Policies are designed to promote accountability of a company&#146;s management to its shareholders and
to align the interests of management with those shareholders. An independent proxy voting service (&#147;Agent&#148;), currently Institutional Shareholder Services, Inc., has been retained to assist in the voting of proxies through the provision of
vote analysis, implementation and recordkeeping and disclosure services. The investment adviser will generally vote proxies through the Agent. The Agent is required to vote all proxies and/or refer them back to the investment adviser pursuant to the
Policies. It is generally the policy of the investment adviser to vote in accordance with the recommendation of the Agent. The Agent shall refer to the investment adviser proxies relating to mergers and restructurings, and the disposition of assets,
termination, liquidation and mergers contained in mutual fund proxies. The investment adviser will normally vote against anti-takeover measures and other proposals designed to limit the ability of shareholders to act on possible transactions, except
in the case of <FONT STYLE="white-space:nowrap">closed-end</FONT> management investment companies. The investment adviser generally supports management on social and environmental proposals. The investment adviser may abstain from voting from time
to time where it determines that the costs associated with voting a proxy outweighs the benefits derived from exercising the right to vote or the economic effect on shareholders interests or the value of the portfolio holding is indeterminable or
insignificant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the investment adviser will monitor situations that may result in a conflict of interest between the Fund&#146;s shareholders
and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund by maintaining a list of significant existing and prospective corporate clients. The investment adviser&#146;s personnel responsible for reviewing
and voting proxies on behalf of the Fund will report any proxy received or expected to be received from a company included on that list to the personnel of the investment adviser identified in the Policies. If such personnel expects to instruct the
Agent to vote such proxies in a manner inconsistent with the guidelines of the Policies or the recommendation of the Agent, the personnel will consult with members of senior management of the investment adviser to determine if a material conflict of
interests exists. If it is determined that a material conflict does exist, the investment adviser will seek instruction on how to vote from the Special Committee. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information on how the Fund voted proxies relating to portfolio securities during the most recent 12 month period
ended June&nbsp;30 is available (1)&nbsp;without charge, upon request, by calling <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-262-1122,</FONT></FONT></FONT> and (2)&nbsp;on the Securities
and Exchange Commission&#146;s website at <U>http://www.sec.gov</U>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8. Portfolio Managers of
<FONT STYLE="white-space:nowrap">Closed-End</FONT> Management Investment Companies </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eaton Vance Management (&#147;EVM&#148; or &#147;Eaton Vance&#148;)
is the investment adviser of the Fund. EVM has engaged its affiliate, Parametric Portfolio Associates LLC (&#147;Parametric&#148;), as the <FONT STYLE="white-space:nowrap">sub-adviser</FONT> of the Fund. Michael A. Allison and Thomas C. Seto
comprise the investment team responsible for the overall and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> management of the Fund&#146;s investments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Allison is a Vice President of EVM, is a member of EVM&#146;s Equity Strategy Committee and has been a portfolio manager of the Fund since June 2015.
Mr.&nbsp;Seto is Head of Investment Management at Parametric&#146;s Seattle Investment Center and has been a portfolio manager of the Fund since April 2005. Messrs. Allison and Seto have managed other Eaton Vance portfolios for more than five years.
This information is provided as of the date of filing this report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table shows, as of the Fund&#146;s most recent fiscal year end, the
number of accounts each portfolio manager managed in each of the listed categories and the total assets (in millions of dollars) in the accounts managed within each category. The table also shows the number of accounts with respect to which the
advisory fee is based on the performance of the account, if any, and the total assets (in millions of dollars) in those accounts. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Number&nbsp;of<BR>All<br>Accounts</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Total&nbsp;Assets&nbsp;of<BR>All<br>Accounts</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Number of<BR>Accounts<br>Paying a<br>Performance&nbsp;Fee</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Total Assets<br>of Accounts<BR>Paying<br>a&nbsp;Performance<BR>Fee</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michael A. Allison</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registered Investment Companies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">25,774.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Pooled Investment Vehicles</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$<SUP STYLE="font-size:85%; vertical-align:top"></SUP></TD>
<TD VALIGN="bottom" ALIGN="right">12,705.4<SUP STYLE="font-size:85%; vertical-align:top"></SUP></TD>
<TD NOWRAP VALIGN="bottom"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Accounts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">42.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Thomas C. Seto</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registered Investment Companies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$<SUP STYLE="font-size:85%; vertical-align:top"></SUP></TD>
<TD VALIGN="bottom" ALIGN="right">23,044.2<SUP STYLE="font-size:85%; vertical-align:top"></SUP></TD>
<TD NOWRAP VALIGN="bottom"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Pooled Investment Vehicles</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,579.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Accounts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,766</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$<SUP STYLE="font-size:85%; vertical-align:top"></SUP></TD>
<TD VALIGN="bottom" ALIGN="right">67,418.2<SUP STYLE="font-size:85%; vertical-align:top"></SUP></TD>
<TD NOWRAP VALIGN="bottom"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">974.5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Certain of these &#147;Other Pooled Investment Vehicles&#148; invest a substantial portion of their assets either in a registered investment company or in a separate pooled investment vehicle managed by this portfolio
manager or another Eaton Vance portfolio manager. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">This portfolio manager provides investment advice with respect to only a portion of the total assets of certain of these accounts. Only the assets allocated to this portfolio manager as of the Fund&#146;s most recent
fiscal year end are reflected in the table. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For &#147;Other Accounts&#148; that are part of a wrap account program, the number of accounts is the number of sponsors for which the portfolio manager provides advisory services rather than the number of individual
customer accounts within each wrap account program. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table shows the dollar range of Fund shares beneficially owned by each
portfolio manager as of the Fund&#146;s most recent fiscal year end. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="46%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:58.75pt; font-size:8pt; font-family:Times New Roman">Portfolio Manager</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Dollar Range of Equity Securities</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Beneficially Owned in the Fund</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michael A. Allison</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">None</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Thomas C. Seto</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">None</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Potential for Conflicts of Interest</I>. It is possible that conflicts of interest may arise in connection with a portfolio
manager&#146;s management of a Fund&#146;s investments on the one hand and the investments of other accounts for which a portfolio manager is responsible on the other. For example, a portfolio manager may have conflicts of interest in allocating
management time, resources and investment opportunities among the Fund and other accounts he advises. In addition, due to differences in the investment strategies or restrictions between the Fund and the other accounts, the portfolio manager may
take action with respect to another account that differs from the action taken with respect to the Fund. In some cases, another account managed by the portfolio manager may compensate investment adviser or the
<FONT STYLE="white-space:nowrap">sub-adviser</FONT> based on the performance of the securities held by that account. The existence of such a performance based fee may create additional conflicts of interest for the portfolio manager in the
allocation of management time, resources and investment opportunities. Whenever conflicts of interest arise, the portfolio manager will endeavor to exercise his discretion in a manner that he believes is equitable to all interested persons. EVM and
Parametric have adopted several policies and procedures designed to address these potential conflicts including a code of ethics and policies that govern the investment adviser&#146;s and <FONT STYLE="white-space:nowrap">sub-adviser&#146;s</FONT>
trading practices, including among other things the aggregation and allocation of trades among clients, brokerage allocations, cross trades and best execution. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Compensation Structure for EVM </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Compensation of
EVM&#146;s portfolio managers and other investment professionals has three primary components: (1)&nbsp;a base salary, (2)&nbsp;an annual cash bonus, and (3)&nbsp;annual stock-based compensation consisting of options to purchase shares of Eaton
Vance Corp.&#146;s (&#147;EVC&#146;s&#148;) nonvoting common stock and restricted shares of EVC&#146;s nonvoting common stock. EVM&#146;s investment professionals also receive certain retirement, insurance and other benefits that are broadly
available to EVM&#146;s employees. Compensation of EVM&#146;s investment professionals is reviewed primarily on an annual basis. Cash bonuses, stock-based compensation awards, and adjustments in base salary are typically paid or put into effect at
or shortly after the October 31st fiscal year end of EVC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Method to Determine Compensation</I>. EVM compensates its portfolio managers based primarily
on the scale and complexity of their portfolio responsibilities and the total return performance of managed funds and accounts versus the benchmark(s) stated in the prospectus, as well as an appropriate peer group (as described below). In addition
to rankings within peer groups of funds on the basis of absolute performance, consideration may also be given to relative risk-adjusted performance. Risk-adjusted performance measures include, but are not limited to, the Sharpe ratio (Sharpe ratio
uses standard deviation and excess return to determine reward per unit of risk). Performance is normally based on periods ending on the September 30th preceding fiscal year end. Fund performance is normally evaluated primarily versus peer groups of
funds as determined by Lipper Inc. and/or Morningstar, Inc. When a fund&#146;s peer group as determined by Lipper or Morningstar is deemed by EVM&#146;s management not to provide a fair comparison, performance may instead be evaluated primarily
against a custom peer group or market index. In evaluating the performance of a fund and its manager, primary emphasis is normally placed on three-year performance, with secondary consideration of performance over longer and shorter periods. A
portion of the compensation payable to equity portfolio managers and investment </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
professionals will be determined based on the ability of one or more accounts managed by such manager to achieve a specified target average annual gross return over a three year period in excess
of the account benchmark. The cash bonus to be payable at the end of the three year term will be established at the inception of the term and will be adjusted positively or negatively to the extent that the average annual gross return varies from
the specified target return. For funds that are <FONT STYLE="white-space:nowrap">tax-managed</FONT> or otherwise have an objective of <FONT STYLE="white-space:nowrap">after-tax</FONT> returns, performance is measured net of taxes. For other funds,
performance is evaluated on a <FONT STYLE="white-space:nowrap">pre-tax</FONT> basis. For funds with an investment objective other than total return (such as current income), consideration will also be given to the fund&#146;s success in achieving
its objective. For managers responsible for multiple funds and accounts, investment performance is evaluated on an aggregate basis, based on averages or weighted averages among managed funds and accounts. Funds and accounts that have
performance-based advisory fees are not accorded disproportionate weightings in measuring aggregate portfolio manager performance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The compensation of
portfolio managers with other job responsibilities (such as heading an investment group or providing analytical support to other portfolios) will include consideration of the scope of such responsibilities and the managers&#146; performance in
meeting them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">EVM seeks to compensate portfolio managers commensurate with their responsibilities and performance, and competitive with other firms
within the investment management industry. EVM participates in investment-industry compensation surveys and utilizes survey data as a factor in determining salary, bonus and stock-based compensation levels for portfolio managers and other investment
professionals. Salaries, bonuses and stock-based compensation are also influenced by the operating performance of EVM and its parent company. The overall annual cash bonus pool is generally based on a substantially fixed percentage of <FONT
STYLE="white-space:nowrap">pre-bonus</FONT> adjusted operating income. While the salaries of EVM&#146;s portfolio managers are comparatively fixed, cash bonuses and stock-based compensation may fluctuate significantly from year to year, based on
changes in manager performance and other factors as described herein. For a high performing portfolio manager, cash bonuses and stock-based compensation may represent a substantial portion of total compensation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Compensation Structure for Parametric </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Compensation of
Parametric portfolio managers and other investment professionals has three primary components: (1)&nbsp;a base salary, (2)&nbsp;a cash bonus, and (3)&nbsp;annual stock-based compensation consisting of options to purchase shares of EVC nonvoting
common stock, restricted shares of EVC nonvoting common stock and, for certain individuals, grants of profit participation interests in Parametric. Parametric investment professionals also receive certain retirement, insurance and other benefits
that are broadly available to Parametric employees. Compensation of Parametric investment professionals is reviewed primarily on an annual basis. Stock-based compensation awards and adjustments in base salary and bonus are typically paid and/or put
into effect at or shortly after fiscal <FONT STYLE="white-space:nowrap">year-end.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Method to Determine Compensation</I>. Parametric seeks to
compensate portfolio managers commensurate with their responsibilities and performance, and competitive with other firms within the investment management industry. The performance of portfolio managers is evaluated primarily based on success in
achieving portfolio objectives for managed funds and accounts. The compensation of portfolio managers with other job responsibilities (such as product development) will include consideration of the scope of such responsibilities and the
managers&#146; performance in meeting them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Salaries, bonuses and stock-based compensation are also influenced by the operating performance of Parametric
and EVC, its parent company. Cash bonuses available overall are determined based on a target percentage of Parametric profits. While the salaries of Parametric portfolio managers are comparatively fixed, cash bonuses and stock-based compensation may
fluctuate substantially from year to year, based on changes in financial performance and other factors. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9. Purchases of Equity Securities by <FONT STYLE="white-space:nowrap">Closed-End</FONT> Management
Investment Company and Affiliated Purchasers </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">No such purchases this period. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;10. Submission of Matters to a Vote of Security Holders </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">No material changes. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;11. Controls and Procedures
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) It is the conclusion of the registrant&#146;s principal executive officer and principal financial officer that the effectiveness of the
registrant&#146;s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the
registrant has been recorded, processed, summarized and reported within the time period specified in the Commission&#146;s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to
the registrant&#146;s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)
There have been no changes in the registrant&#146;s internal controls over financial reporting during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant&#146;s internal control over financial reporting. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;12. Exhibits </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(a)(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Registrant&#146;s Code of Ethics &#150; Not applicable (please see Item 2).</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(a)(2)(i)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Treasurer&#146;s Section&nbsp;302 certification.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(a)(2)(ii)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President&#146;s Section&nbsp;302 certification.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(b)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Combined Section&nbsp;906 certification.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(c)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Registrant&#146;s notices to shareholders pursuant to Registrant&#146;s exemptive order granting an exemption from Section 19(b) of the 1940 Act and Rule <FONT STYLE="white-space:nowrap">19b-1</FONT> thereunder regarding
distributions paid pursuant to the Registrant&#146;s Managed Distribution Plan.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signatures </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT
STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Edward J. Perkin</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Edward J. Perkin</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;27, 2017</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has
been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ James F. Kirchner</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">James F. Kirchner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;27, 2017</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Edward J. Perkin</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Edward J. Perkin</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;27, 2017</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>d344362dex99cert.htm
<DESCRIPTION>EX-99.CERT SECTION 302 CERTIFICATION
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.CERT Section 302 Certification</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FORM <FONT STYLE="white-space:nowrap">N-CSR</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Exhibit 12(a)(2)(i) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>CERTIFICATION
</U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I, James F. Kirchner, certify that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. I have
reviewed this report on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(d)</FONT> under the Investment Company Act of
1940) for the registrant and have: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Designed such internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the second
fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s
board of directors (or persons performing the equivalent functions): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s
internal control over financial reporting. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="51%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:&nbsp;February&nbsp;27,&nbsp;2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ James F. Kirchner</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">James F. Kirchner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Treasurer</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FORM <FONT STYLE="white-space:nowrap">N-CSR</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Exhibit 12(a)(2)(ii) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>CERTIFICATION
</U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I, Edward J. Perkin, certify that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. I have
reviewed this report on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(d)</FONT> under the Investment Company Act of
1940) for the registrant and have: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Designed such internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the second
fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s
board of directors (or persons performing the equivalent functions): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s
internal control over financial reporting. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="51%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:&nbsp;February&nbsp;27,&nbsp;2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-bottom:1pt; margin-top:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Edward J. Perkin</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Edward J. Perkin</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906CERT
<SEQUENCE>3
<FILENAME>d344362dex99906cert.htm
<DESCRIPTION>EX-99.906CERT SECTION 906 CERTIFICATION
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.906CERT Section 906 Certification</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> Item 12(b) Exhibit </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CERTIFICATION PURSUANT TO </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18
U.S.C. SECTION 1350, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AS ADOPTED PURSUANT TO </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The undersigned hereby certify in their capacity as Treasurer and President, respectively, of Eaton Vance
<FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (the &#147;<B>Fund</B>&#148;), that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">the Annual Report of the <B>Fund</B> on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> for the period ended December&nbsp;31, 2016 (the &#147;Report&#148;) fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934, as amended; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">the information contained in the Report fairly presents, in all material respects, the financial condition and the results of operations of the <B>Fund</B> for such period. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>A signed original of this written statement required by section 906 has been provided to the Fund and will be retained by the Fund and furnished to the
Securities and Exchange Commission or its staff upon request. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT
STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: February&nbsp;27, 2017</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ James F. Kirchner</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">James F. Kirchner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: February&nbsp;27, 2017</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Edward J. Perkin</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Edward J. Perkin</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">President</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.12(C)
<SEQUENCE>4
<FILENAME>d344362dex9912c.htm
<DESCRIPTION>EX-99.12(C) SECTION 19(B) NOTICE
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.12(C) SECTION 19(B) NOTICE</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> Item 12(c) Exhibit </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g344362g07w38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Eaton Vance Fund Shareholder: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This notice provides shareholders of the Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (NYSE: ETW) with important information concerning the distribution declared in July 2016. You are receiving this notice as a requirement of the Fund&#146;s managed distribution
plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. <B>This information is sent to you for informational purposes
only</B> and is an estimate of the sources of the July distribution. It is not determinative of the tax character of the Fund&#146;s distributions for the 2016 calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may
later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund&#146;s
investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to
report these distributions for federal income tax purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Period:</B> July 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Amount per Common Share:</B> $0.0973 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth an estimate of the sources of the Fund&#146;s July distribution and its cumulative distributions paid this fiscal year to date.
Amounts are expressed on a per common share basis and as a percentage of the distribution amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Eaton Vance <FONT
STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:22.20pt; font-size:8pt; font-family:Times New Roman">Source</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Cumulative<BR>Distributions&nbsp;for&nbsp;the<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fiscal&nbsp;Year-to-Date</FONT></FONT><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;the&nbsp;Cumulative<BR>Distributions&nbsp;for&nbsp;the&nbsp;
Fiscal<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-Date</FONT></FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14.8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0838</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.3</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Return of Capital or Other Capital Source(s)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0829</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85.2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.5973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87.7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total per common share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.6811</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Fund&#146;s fiscal year is January&nbsp;1, 2016 to December&nbsp;31, 2016 </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>IMPORTANT
DISCLOSURE</U></B>: You should not draw any conclusions about the Fund&#146;s investment performance from the amount of this distribution or from the terms of the Fund&#146;s Plan. The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital
distribution does not necessarily reflect the Fund&#146;s investment performance and should not be confused with &#145;yield&#146; or &#145;income.&#146; The amounts and sources of distributions reported in this Notice are only estimates and are not
being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth in the table below is information relating to the Fund&#146;s performance based on its net asset value
(NAV) for certain periods. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average annual total return at NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period
ended on June&nbsp;30, 2016<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.37</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Annualized current distribution rate expressed as a percentage of NAV as of June&nbsp;30, 2016<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.74</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative total return at NAV for the fiscal year through June&nbsp;30, 2016<SUP
STYLE="font-size:85%; vertical-align:top">3</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">-0.57</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative fiscal year to date distribution rate as a percentage of NAV as of June&nbsp;30, 2016<SUP
STYLE="font-size:85%; vertical-align:top">4</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.37</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the <FONT STYLE="white-space:nowrap">5-year</FONT> period ended on June&nbsp;30, 2016.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund&#146;s NAV as of June&nbsp;30, 2016. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative total return at NAV is the percentage change in the Fund&#146;s NAV for the period from the beginning of its fiscal year to June&nbsp;30, 2016 including distributions paid and assuming reinvestment of those
distributions. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to June&nbsp;30, 2016 measured on the dollar value of distributions in the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-date</FONT></FONT> period as a percentage of the Fund&#146;s NAV as of June&nbsp;30, 2016. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>If you
have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-328-6681.</FONT></FONT></FONT> Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time. </B></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of
actual Fund distributions for the 2016 calendar year. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; padding-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NO ACTION IS REQUIRED ON YOUR PART. </B></P></div>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>July&nbsp;29, 2016 </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g344362g07w38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Eaton Vance Fund Shareholder: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This notice provides shareholders of the Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (NYSE: ETW) with important information concerning the distribution declared in August 2016. You are receiving this notice as a requirement of the Fund&#146;s managed distribution
plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. <B>This information is sent to you for informational purposes
only</B> and is an estimate of the sources of the August distribution. It is not determinative of the tax character of the Fund&#146;s distributions for the 2016 calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may
later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund&#146;s
investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to
report these distributions for federal income tax purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Period:</B> August 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Amount per Common Share:</B> $0.0973 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth an estimate of the sources of the Fund&#146;s August distribution and its cumulative distributions paid this fiscal year to
date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Eaton Vance <FONT
STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund</U> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:22.20pt; font-size:8pt; font-family:Times New Roman">Source</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Cumulative<BR>Distributions&nbsp;for&nbsp;the<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fiscal&nbsp;Year-to-Date</FONT></FONT><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;the&nbsp;Cumulative<BR>Distributions&nbsp;for&nbsp;the&nbsp;
Fiscal<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-Date</FONT></FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0147</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15.1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0981</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Return of Capital or Other Capital Source(s)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0826</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84.9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.6803</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87.4</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total per common share</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.7784</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Fund&#146;s fiscal year is January&nbsp;1, 2016 to December&nbsp;31, 2016 </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>IMPORTANT
DISCLOSURE</U></B>: You should not draw any conclusions about the Fund&#146;s investment performance from the amount of this distribution or from the terms of the Fund&#146;s Plan. The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital
distribution does not necessarily reflect the Fund&#146;s investment performance and should not be confused with &#145;yield&#146; or &#145;income.&#146; The amounts and sources of distributions reported in this Notice are only estimates and are not
being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth in the table below is information relating to the Fund&#146;s performance based on its net asset value
(NAV) for certain periods. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average annual total return at NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period
ended on July&nbsp;31, 2016<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.96</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Annualized current distribution rate expressed as a percentage of NAV as of July&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.59</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative total return at NAV for the fiscal year through July&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">3</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.81</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative fiscal year to date distribution rate as a percentage of NAV as of July&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">4</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.17</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the <FONT STYLE="white-space:nowrap">5-year</FONT> period ended on July&nbsp;31, 2016.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund&#146;s NAV as of July&nbsp;31, 2016. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative total return at NAV is the percentage change in the Fund&#146;s NAV for the period from the beginning of its fiscal year to July&nbsp;31, 2016 including distributions paid and assuming reinvestment of those
distributions. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to July&nbsp;31, 2016 measured on the dollar value of distributions in the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-date</FONT></FONT> period as a percentage of the Fund&#146;s NAV as of July&nbsp;31, 2016. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>If you
have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-328-6681.</FONT></FONT></FONT> Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time. </B></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of
actual Fund distributions for the 2016 calendar year. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; padding-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NO ACTION IS REQUIRED ON YOUR PART. </B></P></div>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>August&nbsp;31, 2016 </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g344362g07w38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Eaton Vance Fund Shareholder: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This notice provides shareholders of the Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (NYSE: ETW) with important information concerning the distribution declared in September 2016. You are receiving this notice as a requirement of the Fund&#146;s managed
distribution plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. <B>This information is sent to you for
informational purposes only</B> and is an estimate of the sources of the September distribution. It is not determinative of the tax character of the Fund&#146;s distributions for the 2016 calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may
later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund&#146;s
investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to
report these distributions for federal income tax purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Period:</B> September 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Amount per Common Share:</B> $0.0973 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth an estimate of the sources of the Fund&#146;s September distribution and its cumulative distributions paid this fiscal year to
date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Eaton Vance <FONT
STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD COLSPAN="16" VALIGN="top"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:22.20pt; font-size:8pt; font-family:Times New Roman">Source</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Cumulative<BR>Distributions&nbsp;for&nbsp;the<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fiscal&nbsp;Year-to-Date</FONT></FONT><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;the&nbsp;Cumulative<BR>Distributions&nbsp;for&nbsp;the&nbsp;
Fiscal<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-Date</FONT></FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14.3</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.1121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Return of Capital or Other Capital Source(s)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0834</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85.7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.7636</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87.2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total per common share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.8757</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Fund&#146;s fiscal year is January&nbsp;1, 2016 to December&nbsp;31, 2016 </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>IMPORTANT
DISCLOSURE</U></B>: You should not draw any conclusions about the Fund&#146;s investment performance from the amount of this distribution or from the terms of the Fund&#146;s Plan. The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital
distribution does not necessarily reflect the Fund&#146;s investment performance and should not be confused with &#145;yield&#146; or &#145;income.&#146; The amounts and sources of distributions reported in this Notice are only estimates and are not
being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth in the table below is information relating to the Fund&#146;s performance based on its net asset value
(NAV) for certain periods. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average annual total return at NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period
ended on August&nbsp;31, 2016<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9.05</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Annualized current distribution rate expressed as a percentage of NAV as of August&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.58</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative total return at NAV for the fiscal year through August&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">3</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.79</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative fiscal year to date distribution rate as a percentage of NAV as of August&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">4</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.05</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the <FONT STYLE="white-space:nowrap">5-year</FONT> period ended on August&nbsp;31, 2016.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund&#146;s NAV as of August&nbsp;31, 2016. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative total return at NAV is the percentage change in the Fund&#146;s NAV for the period from the beginning of its fiscal year to August&nbsp;31, 2016 including distributions paid and assuming reinvestment of those
distributions. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to August&nbsp;31, 2016 measured on the dollar value of distributions in the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-date</FONT></FONT> period as a percentage of the Fund&#146;s NAV as of August&nbsp;31, 2016. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>If you
have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-328-6681.</FONT></FONT></FONT> Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time. </B></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of
actual Fund distributions for the 2016 calendar year. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; padding-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NO ACTION IS REQUIRED ON YOUR PART. </B></P></div>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>September&nbsp;30, 2016 </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g344362g07w38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Eaton Vance Fund Shareholder: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This notice provides shareholders of the Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (NYSE: ETW) with important information concerning the distribution declared in October 2016. You are receiving this notice as a requirement of the Fund&#146;s managed distribution
plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. <B>This information is sent to you for informational purposes
only</B> and is an estimate of the sources of the October distribution. It is not determinative of the tax character of the Fund&#146;s distributions for the 2016 calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may
later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund&#146;s
investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to
report these distributions for federal income tax purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Period:</B> October 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Amount per Common Share:</B> $0.0973 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth an estimate of the sources of the Fund&#146;s October distribution and its cumulative distributions paid this fiscal year to
date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Eaton Vance <FONT
STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:22.20pt; font-size:8pt; font-family:Times New Roman">Source</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Cumulative<BR>Distributions&nbsp;for&nbsp;the<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fiscal&nbsp;Year-to-Date</FONT></FONT><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;the&nbsp;Cumulative<BR>Distributions&nbsp;for&nbsp;the&nbsp;
Fiscal<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-Date</FONT></FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13.4</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.1255</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Return of Capital or Other Capital Source(s)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0843</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86.6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.8475</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87.1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total per common share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.9730</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Fund&#146;s fiscal year is January&nbsp;1, 2016 to December&nbsp;31, 2016 </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>IMPORTANT
DISCLOSURE</U></B>: You should not draw any conclusions about the Fund&#146;s investment performance from the amount of this distribution or from the terms of the Fund&#146;s Plan. The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital
distribution does not necessarily reflect the Fund&#146;s investment performance and should not be confused with &#145;yield&#146; or &#145;income.&#146; The amounts and sources of distributions reported in this Notice are only estimates and are not
being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth in the table below is information relating to the Fund&#146;s performance based on its net asset value
(NAV) for certain periods. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average annual total return at NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period
ended on September&nbsp;30, 2016<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.31</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Annualized current distribution rate expressed as a percentage of NAV as of September&nbsp;30,
2016<SUP STYLE="font-size:85%; vertical-align:top">2</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.54</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative total return at NAV for the fiscal year through September&nbsp;30, 2016<SUP
STYLE="font-size:85%; vertical-align:top">3</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.08</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative fiscal year to date distribution rate as a percentage of NAV as of September&nbsp;30,
2016<SUP STYLE="font-size:85%; vertical-align:top">4</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.90</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the <FONT STYLE="white-space:nowrap">5-year</FONT> period ended on September&nbsp;30, 2016.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund&#146;s NAV as of September&nbsp;30, 2016. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative total return at NAV is the percentage change in the Fund&#146;s NAV for the period from the beginning of its fiscal year to September&nbsp;30, 2016 including distributions paid and assuming reinvestment of
those distributions. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to September&nbsp;30, 2016 measured on the dollar value of distributions in the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-date</FONT></FONT> period as a percentage of the Fund&#146;s NAV as of September&nbsp;30, 2016. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>If
you have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-328-6681.</FONT></FONT></FONT> Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time. </B></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of
actual Fund distributions for the 2016 calendar year. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; padding-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NO ACTION IS REQUIRED ON YOUR PART. </B></P></div>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>October&nbsp;31, 2016 </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g344362g07w38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Eaton Vance Fund Shareholder: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This notice provides shareholders of the Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (NYSE: ETW) with important information concerning the distribution declared in November 2016. You are receiving this notice as a requirement of the Fund&#146;s managed distribution
plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. <B>This information is sent to you for informational purposes
only</B> and is an estimate of the sources of the November distribution. It is not determinative of the tax character of the Fund&#146;s distributions for the 2016 calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may
later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund&#146;s
investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to
report these distributions for federal income tax purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Period:</B> November 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Amount per Common Share:</B> $0.0973 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth an estimate of the sources of the Fund&#146;s November distribution and its cumulative distributions paid this fiscal year to
date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Eaton Vance <FONT
STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:22.20pt; font-size:8pt; font-family:Times New Roman">Source</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Cumulative<BR>Distributions&nbsp;for&nbsp;the<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fiscal&nbsp;Year-to-Date</FONT></FONT><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;the&nbsp;Cumulative<BR>Distributions&nbsp;for&nbsp;the&nbsp;
Fiscal<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-Date</FONT></FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.1402</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13.1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Return of Capital or Other Capital Source(s)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0817</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.9301</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86.9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total per common share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.0703</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Fund&#146;s fiscal year is January&nbsp;1, 2016 to December&nbsp;31, 2016 </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>IMPORTANT
DISCLOSURE</U></B>: You should not draw any conclusions about the Fund&#146;s investment performance from the amount of this distribution or from the terms of the Fund&#146;s Plan. The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital
distribution does not necessarily reflect the Fund&#146;s investment performance and should not be confused with &#145;yield&#146; or &#145;income.&#146; The amounts and sources of distributions reported in this Notice are only estimates and are not
being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth in the table below is information relating to the Fund&#146;s performance based on its net asset value
(NAV) for certain periods. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average annual total return at NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period
ended on October&nbsp;31, 2016<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.11</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Annualized current distribution rate expressed as a percentage of NAV as of October&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.79</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative total return at NAV for the fiscal year through October&nbsp;31, 2016<SUP
STYLE="font-size:85%; vertical-align:top">3</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.58</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative fiscal year to date distribution rate as a percentage of NAV as of October&nbsp;31,
2016<SUP STYLE="font-size:85%; vertical-align:top">4</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.99</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the <FONT STYLE="white-space:nowrap">5-year</FONT> period ended on October&nbsp;31, 2016.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund&#146;s NAV as of October&nbsp;31, 2016. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative total return at NAV is the percentage change in the Fund&#146;s NAV for the period from the beginning of its fiscal year to October&nbsp;31, 2016 including distributions paid and assuming reinvestment of
those distributions. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to October&nbsp;31, 2016 measured on the dollar value of distributions in the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-date</FONT></FONT> period as a percentage of the Fund&#146;s NAV as of October&nbsp;31, 2016. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>If you
have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-328-6681.</FONT></FONT></FONT> Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time. </B></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of
actual Fund distributions for the 2016 calendar year. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; padding-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NO ACTION IS REQUIRED ON YOUR PART. </B></P></div>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>November&nbsp;30, 2016 </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g344362g07w38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Eaton Vance Fund Shareholder: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This notice provides shareholders of the Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global
<FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund (NYSE: ETW) with important information concerning the distribution declared in December 2016. You are receiving this notice as a requirement of the Fund&#146;s managed distribution
plan (Plan). The Board of Trustees approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. <B>This information is sent to you for informational purposes
only</B> and is an estimate of the sources of the December distribution. It is not determinative of the tax character of the Fund&#146;s distributions for the 2016 calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may
later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund&#146;s
investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to
report these distributions for federal income tax purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Period:</B> December 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B>Distribution Amount per Common Share:</B> $0.0973 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth an estimate of the sources of the Fund&#146;s December distribution and its cumulative distributions paid this fiscal year to
date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Eaton Vance <FONT
STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:22.20pt; font-size:8pt; font-family:Times New Roman">Source</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;Current<BR>Distribution</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Cumulative<BR>Distributions&nbsp;for&nbsp;the<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fiscal&nbsp;Year-to-Date</FONT></FONT><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">%&nbsp;of&nbsp;the&nbsp;Cumulative<BR>Distributions&nbsp;for&nbsp;the&nbsp;
Fiscal<BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-Date</FONT></FONT><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0166</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.1576</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13.5</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Short-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Long-Term Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Return of Capital or Other Capital Source(s)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0807</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82.9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.0100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86.5</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total per common share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.0973</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.1676</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Fund&#146;s fiscal year is January&nbsp;1, 2016 to December&nbsp;31, 2016 </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>IMPORTANT
DISCLOSURE</U></B>: You should not draw any conclusions about the Fund&#146;s investment performance from the amount of this distribution or from the terms of the Fund&#146;s Plan. The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital
distribution does not necessarily reflect the Fund&#146;s investment performance and should not be confused with &#145;yield&#146; or &#145;income.&#146; The amounts and sources of distributions reported in this Notice are only estimates and are not
being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form <FONT STYLE="white-space:nowrap">1099-DIV</FONT> for the calendar year that will tell you how to report these distributions for federal income tax purposes. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth in the table below is information relating to the Fund&#146;s performance based on its net asset value
(NAV) for certain periods. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average annual total return at NAV for the <FONT STYLE="white-space:nowrap">5-year</FONT> period
ended on November&nbsp;30, 2016<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Annualized current distribution rate expressed as a percentage of NAV as of November&nbsp;30, 2016<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.91</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative total return at NAV for the fiscal year through November&nbsp;30, 2016<SUP
STYLE="font-size:85%; vertical-align:top">3</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.40</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cumulative fiscal year to date distribution rate as a percentage of NAV as of November&nbsp;30,
2016<SUP STYLE="font-size:85%; vertical-align:top">4</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the <FONT STYLE="white-space:nowrap">5-year</FONT> period ended on November&nbsp;30, 2016.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund&#146;s NAV as of November&nbsp;30, 2016. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative total return at NAV is the percentage change in the Fund&#146;s NAV for the period from the beginning of its fiscal year to November&nbsp;30, 2016 including distributions paid and assuming reinvestment of
those distributions. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to November&nbsp;30, 2016 measured on the dollar value of distributions in the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-date</FONT></FONT> period as a percentage of the Fund&#146;s NAV as of November&nbsp;30, 2016. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>If you
have any questions regarding this information, please contact your investment advisor or an Eaton Vance Investor Services associate at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-328-6681.</FONT></FONT></FONT> Our associates are available to assist you Monday-Friday 8:30 a.m. to 5:30 p.m., Eastern Time. </B></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTE: This correspondence is for informational purposes only and should not be relied upon to project the tax character of
actual Fund distributions for the 2016 calendar year. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; padding-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NO ACTION IS REQUIRED ON YOUR PART. </B></P></div>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Eaton Vance <FONT STYLE="white-space:nowrap">Tax-Managed</FONT> Global <FONT STYLE="white-space:nowrap">Buy-Write</FONT> Opportunities Fund
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>December&nbsp;30, 2016 </B></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g321638g57p32.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g321638g57p32.jpg
M_]C_X  02D9)1@ ! @$ 8 !@  #_[0=84&AO=&]S:&]P(#,N,  X0DE- ^T
M     !  8     $  0!@     0 !.$))300-       $    'CA"24T$&0
M    !    !XX0DE- _,       D           $ .$))300*       !   X
M0DE-)Q        H  0         ".$))30/U      !( "]F9@ ! &QF9@ &
M       ! "]F9@ ! *&9F@ &       ! #(    ! %H    &       ! #4
M   ! "T    &       !.$))30/X      !P  #_____________________
M________ ^@     _____________________________P/H     /______
M______________________\#Z     #_____________________________
M ^@  #A"24T$"       $     $   )    "0      X0DE-!!X       0
M    .$))300:      !M    !@              $@   -X    & &< -0 W
M '  ,P R     0                         !              #>
M$@                                             X0DE-!!$
M  $! #A"24T$%       !     (X0DE-! P     !+L    !    <     D
M  %0   +T   !)\ &  !_]C_X  02D9)1@ ! @$ 2 !(  #_[@ .061O8F4
M9(     !_]L A  ," @("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,# P,
M#!$,# P,# P,# P,# P,# P,# P,# P,# P,# P, 0T+"PT.#1 .#A 4#@X.
M%!0.#@X.%!$,# P,#!$1# P,# P,$0P,# P,# P,# P,# P,# P,# P,# P,
M# P,# S_P  1"  ) ' # 2(  A$! Q$!_]T !  '_\0!/P   04! 0$! 0$
M         P ! @0%!@<("0H+ 0 !!0$! 0$! 0         !  (#! 4&!P@)
M"@L0  $$ 0,"! (%!P8(!0,,,P$  A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$
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M &( 90 @ %  : !O '0 ;P!S &@ ;P!P "  -@ N #     ! #A"24T$!@
M    !P (  $  0$ _^X #D%D;V)E &1      ?_; (0  0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,#
M P,# P,# P$! 0$! 0$! 0$! @(! @(# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,# P,# P,# P,# P,# P,# P,#_\  $0@ $@#> P$1  (1 0,1
M ?_=  0 '/_$ '\   (# 0$! 0             &!P@)!0H#! $! 0$!
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MRV[%R^7FG2FD$AKIHSPNMG*(51+R?__1]_'@!X > '@!X > '@!X > '@!X
M> '@!X > '@!X > '@"R:_AQ;^,_C,]^:_AW_"W7Y;_EG_?_ /"_7X!XAZ8_
M\+2/_P"E'Y9:'\:__&#\G+O]?_T]_P"Z/\?]WYDZ^?']/:_5'\6UK^ ?@ =_
A%'\6_CL=_&O^0/\ DW_3OA\T<A_\ / #P \ / #P#__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g321638tax1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g321638tax1.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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MAR*_@T:T^QQ:IK&JZ_?)]HNKCS]7UN[DOM3N]UU-(8O.NI7?RHRD2;ML:(H
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M3_Y3J_\ R ?V?C/^?/\ Y-#_ .2#_A6_C3_H#?\ E1TG_P"3J/[8R[_H)_\
M*=7_ .0#^S\9_P ^?_)H?_)!_P *W\:?] ;_ ,J.D_\ R=1_;&7?]!/_ )3J
M_P#R ?V?C/\ GS_Y-#_Y(/\ A6_C3_H#?^5'2?\ Y.H_MC+O^@G_ ,IU?_D
M_L_&?\^?_)H?_)!_PK?QI_T!O_*CI/\ \G4?VQEW_03_ .4ZO_R ?V?C/^?/
M_DT/_D@_X5OXT_Z W_E1TG_Y.H_MC+O^@G_RG5_^0#^S\9_SY_\ )H?_ "0?
M\*W\:?\ 0&_\J.D__)U']L9=_P!!/_E.K_\ (!_9^,_Y\_\ DT/_ )(/^%;^
M-/\ H#?^5'2?_DZC^V,N_P"@G_RG5_\ D _L_&?\^?\ R:'_ ,D'_"M_&G_0
M&_\ *CI/_P G4?VQEW_03_Y3J_\ R ?V?C/^?/\ Y-#_ .2#_A6_C3_H#?\
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M^)'_ ".FL_\ <._]--C7W.3_ /(NPW_<3_T[,^9S#_?*W_;G_I$3AJ],XPH
M* "@ H * "@ H * "@ H ^QO#'_(M>'O^P'I/_I!;U^>8W_?,7_U^J_^ER/K
M,-_N]#_KW#_TE&Y7,;!0 4 % !T_#^E#\M'T_K0-OD>$^'/AG\1-$LOB=!-\
M2O#HO?''BM_%VAW^B?#9['_A'KN6.PMKK3-:LO$/CC7[?Q3I%S8:1IUK,D":
M)<;);]X+F"6XMY-.5/GI9=E>$BXRQ.6RQ$G4E%^PK+$XS$X^<94(SC6I\F*Q
MF(E3E3QBE&G'#0DY2I5:F)%"BLPS#%\DG0S!04J?.O:TI4<#ALNH3I5N3V?/
M3H82E.2JX>I3GB.>4J:HR5!3Z'\)-3AT?QUIOBWQ)HOB&?XJW6M7/Q&ETKPE
M=>'+"^&H^$M+\&65MX7TV?Q9JK>'X+?2-(MC.;^YUV6ZE>5_-A#*L9B(JK@J
M6!HRJ8>EAZ5=TJBE&5>&-KXSZY]:C+D5-4Z4Y5%2PZI)IJC4G6G.%=XG?#XO
M$X?'X7,>:$L1@IX:-)<CC!87"O$584I)3<Y5I8BLJDL1*HTJ:G0A0A!T7A]'
MX>_#KQ-X:UBZ\0^-?&]IXVUE/#NE>#M%GT[PK_PB-K8>'-)N+B[$E_9GQ!J_
M]I>);^ZGBDOK^&2PM'^PVRVFFV2K()NB=:,OK53V,:>*S"M3K8J<')4FZ*K*
MA2P]*;G*C0HO$XF<8U*N(K2G7GSUY0C2A3X84(T88&A3;^K972KTL,IV=;EQ
M#PRJNO5BH0JRY,%A8P]G0H1CR3DXR=3W?7JP-SR67XW_  [@\1:QX9FO/$T%
MSX=O;C3M?UN;X=_$6+P)H=W9Z=#JMW'J_P 2I/"@\)::D-C<0222W&MQQH9H
MXV82N$+PR>*C2E17NUYSIT>?]U[:I3Q4\$Z=!5>1UJDL73GAJ4*2G*M6C[.B
MIRLFJTHX=U8SDG+#QIRJJ#51T8U*%/$QE55/G=**PU6GB*DJG*J5"7M:KA33
MDO6@1@8Z=1CICMBEMY6!--)IW3U36UNC3"@92U'4M.T>PN]4U:_LM+TRP@DN
MK[4=1NH+&PLK6%2\MS=W=S(D5M B EI)'55 R2!0E>5.G%7G5J4Z5.*^*=6K
M.-*E3@EK*I4J2C3IP5Y3G*,(IR:0/2,Y;1IQG.3Z1A3BYSG)[1C"$93G)V48
MQ<FTDV4]?\0:/X7TBZUW7+S[#I-E]G%Q=""YNA']JNH+.WQ#90RRR;KFXA3Y
M(VQOW'"@D*Z53#T=JF*KT,-2C_-7Q-:%"A"^T>>K4A#FDU"-^:<HQ3:3DE2K
M5[_NL-0K8FI):J-##T9XBM45KN7)1ISGRQ3E*UH1E)I/9IC"@ H * "@ H *
M "@ H * "@#RKQ)\3?\ A'M:O='_ +$^U_8_LW^D?VE]G\S[1:077^I^P2;-
MOG;?OMG;GC.![F#R7ZWAJ>(^L^SY^;W?9\UN64H[\ZO?EOLNQYF(S'ZO6G2]
MCS<MM>>V\4]N5[7MN8?_  N;_J6__*Q_]ZZZO]7?^HS_ ,I?_=3'^U_^H?\
M\J?_ &@?\+F_ZEO_ ,K'_P!ZZ/\ 5W_J,_\ *7_W4/[7_P"H?_RI_P#:!_PN
M;_J6_P#RL?\ WKH_U=_ZC/\ RE_]U#^U_P#J'_\ *G_V@?\ "YO^I;_\K'_W
MKH_U=_ZC/_*7_P!U#^U_^H?_ ,J?_:!_PN;_ *EO_P K'_WKH_U=_P"HS_RE
M_P#=0_M?_J'_ /*G_P!H'_"YO^I;_P#*Q_\ >NC_ %=_ZC/_ "E_]U#^U_\
MJ'_\J?\ V@?\+F_ZEO\ \K'_ -ZZ/]7?^HS_ ,I?_=0_M?\ ZA__ "I_]H'_
M  N;_J6__*Q_]ZZ/]7?^HS_RE_\ =0_M?_J'_P#*G_V@?\+F_P"I;_\ *Q_]
MZZ/]7?\ J,_\I?\ W4/[7_ZA_P#RI_\ :&YX;^)O_"0ZU9:/_8GV3[7]H_TC
M^TOM'E_9[2>Z_P!3]@CW[O(V_?7&[/.,'EQF2_4\-4Q'UGG]GR^[[/EO>48[
M\[M:]]GM8VP^8^WK0I>QY.:^O/>UHM[<J[6W/5:\,],* "@ H * "@ Z>V/P
MQBANWDD!YMI_Q?\ AOJOAKQ!XPTOQ39ZCX;\+Z[?>&-7U.PMM1NXT\0Z=<VU
MC<Z-I\%O9O/K>HF_N[6SAATV*[:XN9EM[<2S'RZCG7U7 8R*E.AF</:X1TX3
MJ3Q%/VM6BI4J4(RJR3G0JN-H7E3A[:-Z+C-U"+GBL=@DU'$99-PQ2G*-..'E
M##T\5/VM2;C2BJ="K"=63GRTKRC4<9PG&.QX9\>^%?%F@7?B;1]0N(M)TZ:_
MMM5.O:/K7A/4M%N=+427]MKNA^*M.T[4]"N((&29HK^TMF\F6*8 Q2H[77<<
M+0CBJLX1PTZ4JT:L9PG3=.$YTYOGA*4;TZE*I2JPOSTJM.I2J1C4A**BB_K%
M>>&HQE+$4ZD*,J7))352I"G5IQY9)-^TIU:52E))QJ4ZD)P<HR3=/P5\3?!O
MQ DU6#PO?:G-<Z,+*6]M-9\,>*?"EX;+4Q<G2M7L;/Q7HNFS:MH%]]BO/LFK
M6*7-C<FTF$%Q(8GVZNC5C1C6E!P@ZDZ3C+W:E*K3C3G.C6HRM5P]:,*M.3I5
MH4ZBC.+Y;,7/#GC!24E*+G3G!\]&K!2<'.A7C>C7C&22DZ,YJ*E3<K*I3<N]
MK(H^3;[X1^+++3/VA_$GAUO&5A\0/&&J^*W\"Q:?\3?$EAHMQ:WOAGPW9:5J
M5CX9C\71^&M%UEM1TZX1=2FL+34(_*):=8W!>\O<<-A^':$_AI9E"KCXS7M5
M#"OBO%8ZK&//S\M*IE=2-2M0PUE6C4J4JE.=:I6IRQKQG5Q6>U;**J891P,H
M*-.4ZT>&L+@H.;I\DISIYA"I3IU,3=TW2I5(2C2I8><<?Q+X$^.EO=>+?$7A
M/5/&)\0ZM>_%O3=-@NO'YNM T_P]?>$YI/AY<Z5X4U7Q%_85EJ4?BZ*V:WN3
M9Q7D7G/#=3P6#$1\E",X8-8>M[7EKX?$O$NFX2Q/M_\ 6BC.@L-5J3C[*I_J
MY4QBI1IUJ&';5&GB)PQ%.C[/HA.<<9@ZCITYT<-CLOER5&Z=&>&APU.GBUB9
M4H5*LJ,\]IX>-9JEB*T?WF)PU"I&I6E5\W\,?"7]H.31=2T35]9^-T.DZ;IG
MQ7O?",OB7XR64?C:76M3\/\ POU+P#:^(M<\&>.KAKV&V\9V_CR*UMKK5-2M
M[6UA-I>W5Q8W0:_]#$U%#"1KX94I9EA</25&"CS4I5J6:XZ4/;PJTZ='$3>6
M2PL*\JM/V5:_O1E6IQE3Z<(L*ZE*GBY2>'Q>/RV>-=N1QPRP>94,Q6%E1;K8
M6C*LL!6C3PU6%7VLO:T532J4J/:ZQX2^/=S)\0GM;+XCCQ7JGAWQ+%I/B:S^
M+6E:5X!>WO?#]FGA;1/#O@DZ[</H_B_3];CD$^J0V/AQ6)GNFUN]AE33D>$]
MA2Q5+F?+A:6:8:I755.LZ]"'$=+$>UH)\TZ.$AD*GAZ^'<Z2JOFH3RW&UJD<
M?2\B:Q4L-3YKRQ#R_DAR2C3]C6_L">'KT\0U&,:U>KG;6)P]6,:SI1]G..88
M2E2GA*_'GX9_M$:CXJ^)\NL-\1-6T3Q7!XCC73/$?C?P;=^ X;C2OB;X6U+X
M>M\/O#T'BBYNM C'@3^VXKVYNK;1VNIM/47%D+@1W.I8X!4Z>#RU5U_M&&S7
MAK&SE5]_$0EAL=.MG4HU(*4%A(*%">&H*<ZDZ<8N%&E4<\/#KS&]:ABXT(J%
M2669I@:<*4FJ52GB<CK8?#^W=2,)3QD\=&FZM1Q4,//$UJ<<3BL,E7I_0WPG
MT3Q_HOCGQX?$&C^-;7P_?W%]?0ZOXQ^(_P#PFMKJ&J7&M7,MG%X(TZ#Q)<0:
M%X5BT62-1:-X9\(SVTB""1=7&V]@G"6AE=.E5]RM2^K*,)WJ8AS5&HL;4KXA
MNHJD)5E1>&<*T(U(.I)Y?ETH^SK+%<SS'GI+FHRC7YYQ?LZ$8*=#ZE3HX=1I
M\E54WB/K;G"K)3C24<;BU)RC]#TB@H * "@ H * "@ H * "@#Y6^)'_ ".F
ML_\ <._]--C7W.3_ /(NPW_<3_T[,^9S#_?*W_;G_I$3AJ],XPH * "@ H *
M "@ H * .Y^&_P#R.FC?]Q'_ ---]7F9Q_R+L3_W#_\ 3L#LR_\ WRC_ -O?
M^D2/JFOACZ8* "@ H * "@ Z?A_2AZ=-NG]6#;Y'S'X47XA66F?&U;KX1^+[
M5M=^(&H:WI%C/XY\%>'-4\3>&=8TK2-$OIO">O>$/&VH3Z+XDM[?1[FYMEU.
MZ\-_/>6.W4;23SY;'."3R7):%6-2,Z+S".)HTIN.)HQQ.9YCF="<91J4Z$TO
MKM##UE#&1<94\5*"K4X4%BRG&=#.<TQ%*I1E&O5P-3#U:L'/#-X3+<KR^HJ]
M.=&I4Y92P=>M3B\)6C4I^RA6C2E4J*EI?"'1/&G@?PIXCLXO!6NV_P#;7B;Q
M3XA\(Z!XS\8Z/J^NZ):S:5ITUKIWQ(\>6VN^([S5=3U3Q+%JKIJ-M-XMGM;6
M\M8KFXD%HH'35G;!Y=A[0G6PF&J^UE1C&C2?-F-6=.A2A&G17UJ.#Q$9U9^R
MHT*^)H8F=7%2K58XG%11A3>-Q%:?M:&'Q5?#0DYR5>LO9X.%&KBDG-6PREAJ
M=&CAWB*M:$94G3A1P[>%P#/@WX4\1:5XU^(7B:]\)>,?!6B>([+PY"NE_$+Q
MS8?$/Q)?>(],NM?EU34M(UNW\6^)KC3/!(M-1L(;#2KC5H$BD2[D@TC2Q))]
MN*"A0RV.%53F7UEU:--P:Q%*F\/0HS>-K<THXC$U70IVG[7%5*=.E:>,K1G3
MHX:J[=7$T*OLU&O"E6AB*D'_ +/4YJT*N'AA*;4'2A1D\7*I;#82-15Z"]DW
M2;C]&UD,* "@ H * "@ H * "@ H * "@ H * "@ H * /*O$G_"L?[:O?\
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M@JDZ5"]/%S4\FR?"XOZFHTZE6E4I8EUJ//AJ,G@:E.IRPI1PTE3N_"6^&F_
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MX0#PU_T470_^^;#_ .7E']JXS_H45O\ R?\ ^4A]1P__ $'T_P#R7_Y8'_"
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M_BEJ[_V_XH@^"MEXYU%UM(+;^V-<A\&)KERPL=/CAA@%U?(Y\FW2)%$NV,*
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MMK>I^,/'OBJVTBXU[P^_AO4]8M_#VM>+VL&U.\TYLWUS&L%S?SJ+J[N)+O\
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M4BXW:Y85:2HUZ5-IJ5&EB*48T\11I.%+$0C&-:%115O9.GMC\,8K,TV\K!0
M4 % !0 4 > >-O!/B?5_$^IZAIVF?:+.?[%Y,WVW3XM_E:?:02?NY[M'7$L3
MK\RC.W(R""?J\MS+!8;!4:-6MR5(<]UR5':]24EK&+6S3T9X>,P>)JXFI4IT
M^:$N6SYHK:,4]')/='*_\*W\:?\ 0&_\J.D__)U=W]L9=_T$_P#E.K_\@<O]
MGXS_ )\_^30_^2#_ (5OXT_Z W_E1TG_ .3J/[8R[_H)_P#*=7_Y /[/QG_/
MG_R:'_R0?\*W\:?] ;_RHZ3_ /)U']L9=_T$_P#E.K_\@']GXS_GS_Y-#_Y(
M/^%;^-/^@-_Y4=)_^3J/[8R[_H)_\IU?_D _L_&?\^?_ ":'_P D'_"M_&G_
M $!O_*CI/_R=1_;&7?\ 03_Y3J__ " ?V?C/^?/_ )-#_P"2#_A6_C3_ * W
M_E1TG_Y.H_MC+O\ H)_\IU?_ ) /[/QG_/G_ ,FA_P#)!_PK?QI_T!O_ "HZ
M3_\ )U']L9=_T$_^4ZO_ ,@']GXS_GS_ .30_P#D@_X5OXT_Z W_ )4=)_\
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MUE>Z9IFD:MXP\8^([5-,OX/LLNF7O_"1Z]?OJVFPVN(;6TOWN8;*,!+-(%
MVQ<GCG6^N6Q'MZ$\/54XIJK3J3C.;J*UIUI."3Q$D\1[-SI>U]E4J0E-/FH5
M/:TISIU5B%BE.,Y*2KJ,X\RE>ZBW4E4G25J4Z_+B)PE7A"I%O@;X6^"/AO\
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M/F<P_P!\K?\ ;G_I$3AJ],XPH * "@ H * "@#[BK\S/L@H * "@ H * "@
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M2E&5-3;FTW=RG'[,8JUHKIWU/3P6(GB:4IS48N,W%**:5DHOJWKJ=K7FG8%
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MY/#/C72_BAX<B^&EK9:EX2T2UTN_/@:^^,UJ^E:Y'J^DM"=3M_!GV]"5(N#
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ME5BXJ,)*G3A/FH8:+E!RIQYN2=2M6:C.OB72BZ[I136'H4L)A*'N%8&@4 %
M!0 4 % !0 4 % !0 4 % !0 4 % !0 4 >*^+=1^'EOXAU"+7="U6\U1/LGV
MJYMII4@DW6-LT&Q5UF #;;&%#B)>4/7[Q^CP%'-I82D\+BJ5*@^;EC)*ZM.2
M=_W,MY7?Q/1]-CR,5/ 1KS5:A.51<MVF[?"K?\O([*RV1SG]K?";_H6-<_\
M B;_ .:&NSV&??\ 0;1_\!7_ ,H.?VN5_P#0-4^]_P#RT/[6^$W_ $+&N?\
M@1-_\T-'L,^_Z#:/_@*_^4![7*_^@:I][_\ EI:L+KX5:A?6>GP>&M96:^N[
M>SA:6YN%B66YF2"-I"FOLPC#."2JL<9P">*BK#/*-*I5EC*+C2C*;2C&]HIM
MVO02O9::KU*A++)SA3CAZB<I**NW:[=E>U78]NT?1-+T"V>STFU^R6TD[7+Q
M^=<3YF>.*)GWW,LC#,<,8P& ^7.,DY^:Q&)KXJ:J5Y\\XQ44[16B;:5HI+=O
MI<]BE1IX>+A2CRQ;NU=O6R75M[)&K6!J% !0 4 % !0 4 % !0 4 % !0 4
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MO-7_ -(D;8;_ 'BA_P!?(?\ I2/L:OST^L"@ H * "@ H * "@ H * "@ H
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M>S5[7O:Z]3II97[.I3J>WOR2C*W);9IVOSNVQ['7SQZP4 % !0 4 % !0 4
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M7_UYJ_\ I$C;#?[Q0_Z^0_\ 2D?8U?GI]8% !0 4 % !0 4 % !0 4 % !0
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M;*U*M+656FMH5)-MN<;2=]66O#_P\\ >$[2VT_PMX&\'^&;"RO;S4K.R\/\
MAG1=&M+34=1MI;+4+^VMM.LH8X+VZLYYH)IT59)8IGC=F1B"2;G3]E/WJ2H3
MPW(]8?5IU(59X?E>GL)U:5.I.E;V<JE.$W%RA%H:4JLJ\DI5Y5HXAU'K-UXP
MG2C7<W[SK1IU*E.-1OG4*DX*7+.2=ZW\(>$[2:UN+7POX=MKBPM=(LK&>WT3
M389K.S\/K?)H-I:RQVP:WM=-35-36TBC*I;#4;H0A!/)OJ52I.<JDYRE4E4J
M5G)R;DZU:DL/6JMMW=2K02HU)OWITDJ<FX+E&]8*D]:<590?PI>UIU[*.R7M
MZ-*MHOXM*G4^.$6JM_X#\#:I8W&F:GX,\*:CIMWIMYHMUI]_X=T>[L;G1]0O
M4U*_TFXM+BS>*;3;G48X[J:U=#%),BRNC.H88NG!P5-PBZ<5A4HV7*E@%*.!
M7+LE@XSFL*K?[.IR5'D4G=Q;A456+Y:J>*:FM)WQKC+&/F6M\7*$)8IW_?N,
M75YW%69:_#[P%8V4FF67@CPA9Z=-93:;+I]KX:T:WLI=/N;UM2N+"2TBLEB>
MREU%FNG@*E&G8RLID.ZM7.?M%5YY>UC/#U5.[YU4PE2=7"U.;=3PU6I4J8>=
M^:C4J3G3<92DWFZ5-P=)TXNFZ56BX.*Y?8UZ-+#5J7+:WLJV'H4*%6G;EJ4:
M-*E-.%.$5'>_#GX>ZC<:7=:AX#\&7]UH6L7WB+1+F]\+Z)=7&C^(-3NWO]2U
MW2YI[%GT_6+N^EDN)[V QSRRR-)([.Q)F'[JI3JT_P!W5HT7AZ<X^[*%!IIT
M(25G&BTVG334&FURV9I5;KPG3KMUJ=25*<XS]^,IT(0I492C*ZE*C3ITZ=*3
M3=.%.$(-1C%+,C^#WPDAL=<TR+X6_#F+3?$QW>)-/C\$>&4L?$#?;FU/=KEH
MNF"+5C_:3O=YNDE_?N9?]82U*"5*&'I4E[.GA)4IT(1]V-&>'<G0G2BK*G*B
MYS=*4%%TW.7(X\SO7//VM2OSR]O5]MSU+OVD_K$:<,1SS^*7MX4J4*UV_:QI
MTXSYE"*5^?X9?#>YO=&U*Y^'W@B?4?#NH7^K^'[^?PGH,M[H6JZK=-?:IJ>C
M74E@9=,U"\OF:XN+FV:*2:5C)(S.<U<92IU57A)PK1I>Q52+:FJ/O+V2FK25
M*TYKV=^7WI:>\[Q/WZ+P\_>H2=*3I2UIMX>G"C0;@_=;HTJ=.E2=KTZ=.$(<
ML812W+/PSX<TZXMKO3_#^B6%W91ZQ%9W5GI5A:W%I%XAU&'5]?BMIH(%>"/4
MM6MX+V\5&47-Q!'-,'D16!&4H0]G&3C#V="ERIM1]EA(2IX6E9:>SPU.4H4(
M?#1A*4::C%M ]>9/52JSKM=Z]3F4ZS[U9J<U.H_?ES2NWS.^7'\/? ,/B:^\
M:Q>!_"$7C+4[)M-U+Q;'X:T5/$VH:<\<<3V%]KRV0OKNR:*&)#!+.T96) 5P
MH SC",*.(PT(J.'Q;YJ]))*G6>NM6"]VH]7K--ZLJ<I3G0G.3E/"?P92;<J-
MN9+V3>M.RE)>Y;XI=V1>&_AO\._!J01^$/ 7@OPK':7-Y>6J>&_"VAZ&EM>:
MC$D&H74"Z78P"&YNH(TCFE0!I415<L !6BE**A%2<52I2H02;2A1G4A6G1BO
MLTI5:5.K*FK0=2G";3E"+42C&<ZE6:4JE6K&O.<E>4Z\:=2E&M.3UE5C2JU:
M4:C;FJ=2I!/EG)/0@\&^#[0@VOA3PW;%=7U77P8-"TN$C7M=@N;77-;!CM1C
M5]1MKV\AN[S_ %UQ'=S),[K*X:.6*I*ARI4(T)X54[>XL-4JQKU,,H?"J$Z\
M(5IT;>SE5C&HXN<4U4FY5'5D^:JZE*LYO67M:%%8>A5<GK[2C02H4IWYJ=%*
MG!J"Y3F/^%+?!T:7IFA?\*F^&@T31=6DU[1M'_X03PL-+TG792&EUK3-/_LK
MR+#5G95+7<$:3,0"7.*N,Y0J8>K&3C5PD/94)IM3HT^;F]G2DM:<.;WN2#4>
M;6UPDW-8E3?,L9)3Q"EJJ\TG%2K)_P 62C*45*?,TI-7LV=+HW@KP;X<U36M
M<\/>$O#.A:UXDEBG\1:OHV@Z5I>J:]-;@K!-K6H6-I%/JDL:LP1[F24J"0",
MTH-TZ*P]-N&'C.514HZ4U4GK.IR*T5.7VI6YI=6R91C*HJTDI5HPC24VKS5*
M"2A34G[RA%)*,+\L4E9*R/._%OPXUS7O$.H:M9W6E16UW]D\M+F>[29?L]C;
M6S[UBL9%&7A8C#G@C.#P/HL!G&&PF$I8>I3JN=/FNXQA;6<I*UYI[-=%J>3B
MLOK5Z\ZL)0C&7+9-R3TBETBUT[G.?\*@\2_\_P!H?_@3?_\ RLKL_P!8,'_S
MZK?^ P_^6'/_ &5B/YZ?WR_^0-'1OA9X@T[5]*OYKS1FAL-2L;R58KB],IBM
M;J*:18U?3U4R%$( +*,XR0.:QQ&>82KAZ]*-.JI5*<X)N,+7E%Q5[5&[7>MD
M_0THY;7IU:4W.G:$XR:3E>R:;M[JUT/?*^6/;"@ H * "@ H * "@ H * "@
M H * "@ H S]6TC2M>TV]T;7-,T_6='U*WDL]1TG5K*VU'3;^TE7;+:WMC>1
M2075NZDAHY496'!!J)TZ=6/)5IQJ0NGRRBI*Z=T[--735T^CV+IU*E&<:E*I
M*E4AK&4).,HORE%IKY,YVU^'/P]L=%M/#5CX$\&V?AVPLM4TVPT"U\+Z);Z+
M9:=KD+VVM6%II4-BMM;66H6\DD5U!'$J7"2,LJNK$&ZR6(O[=>WYJ*P[]I[]
MZ$9TJD:#YKWHQJ4*,U3^!3HTI*-Z<&HH_P"S2A/#_N)TJZQ4)4_<<,2E4BL1
M%QLXUU&K5BJRM42JU%S6G*]?P;\+_AI\.FOW^'WP[\"^!'U5;=-4?P;X2T#P
MPVI+9F8VBW[:)I]L;Q8#<7!C$V\)Y\FW&]LZ>UJ^R5#VDO8QDYJGS/D4VE%S
M4+\JDXQ47*UVDE>R1+C%S51Q3J13BI67,HMIRBGNDW&+:6C<4WLCNJS*/")_
MBAK\.B?$+4A9Z1YWA+XNZ'X!TY#;WIBFT;4]4\"6-Q<WB+?[I=36+Q/?E)(F
MAB#0V^86"N)2BU/#9#7G=/,JV,A64$WRQPV;YI@(>RBE*7,Z.!I2:?M'*K*H
MXQ490IQF+<L5Q%0T4<HPDJ]%[.4UPYA<W2JMZ./UFO.#Y5!^P48\RJ)U7PMU
M^TW!J'A>?5O#NB2:9JBWWCBSM].\9:'\0-#NKA? _CWPWX1N+W3[#6/!VD1:
MI8S67B&WN+B3^T[1K"[E6P5+^:UOQI]TJ<JCR62:]GF<^'G42<?:4J6<XNAA
MZL7&4HR@Z2J5%AJSA..(Y8U_8K#SA*IKC*<L)A\]J/WJF41Q\(23C.A4K8;*
MLTQ]']Y3E-2YIY<U.E!\OL'.;Q-*<L/&OKZW^TOH&A:M=://I<DSP:/\5=4;
M6[73?B7>^$K"3X9>*4\-S66O^(M-^%MU'H\DICOGO)4BNX[*>WMK:W;4EU;3
MKB]O!4GC'2C!N$JCR11YDHQJ+.,36PR5"=25.%2I"5.'U>G4E1EBIU)QG]5I
MX;$5J=8ZD\#"K.?O1I1J2<;Q=2/L\KPN9\U2E3E5G&DX8F/[R"J.-!.MR.M&
MKA*7;ZM\??A9H,WB"#5=>U.U/AE9AJ$Z>#?'%U87EQ::C9Z/?:?X8U*T\-R6
MOC35K35]0LK&YT_P_+J=W;7%PD$\$<I*#GC)3A&=-2ESU(TX04)>UJ<\W3A4
MIT4G5G0<XM?680EAUNZJ33:5&JO9J45%RI>V;YER4X_5I8U1JU':-&I+"0GB
M:=&LZ=:K0BZM.G*.IZ?HFL67B#2K'6=.6^6RU"!;BW35-)U70M2C1L@QWVC:
MY96FH:7=HP*O;7EK!-&RE9(U8$5M5I2HSE2DXN4=^2<*D=KZ3IRE"7_;LG9Z
M;IF%.I&I'FA>UVE>,H/1VO:2B[/>,K<LXM3BW&2;U*S+"@ H * "@ H * "@
M H * "@#YK\?Z[KEEXNU:VL]9U6TMHOL'EV]MJ-W;P1[],LI'V113*J;G9F.
M ,EB3R:^RRK"X:I@*$ZF'I3F^>\I4X-Z5)I7;3>B22\D?/8ZM6ABJL859QC'
MELE*22]R+V3LC&\.^(O$$_B#0H)M=UF:&;6=,BEAEU.]DBEBDO8$DCDC><J\
M;(2I4@@@D$8-=&+P>$AA,5*.%HQE&C4::IP334&TTU&Z:>S6QEAZ]=UZ$76J
M-.I!-.<K6YDFFK['U;7PI],% !0 4 % !0 4 % !0 4 % !0 4 % !0 4 8O
MB2XUNS\/ZU=>&[;2[SQ!;Z7?3:+::Y>7>GZ/<:G%;2/91:I?6%C>7-I8M.J"
M62"TN)%3<4C9L"N3'UZF%P>(Q%)1<L/!U&I7MR0]ZHU%-.4HTU)PAS04YJ,)
M5*<6YQWPM.G5Q%&E5<HPG)1?);FN](I-Z13E9.5I<J;DH3:Y'Y_X,\>:[KWP
M/\-?$R[T>WOO$FJ_#'3/&EQH.B)=16MYK-UX9BUF32=*CG>ZN8X)KQS!"KM<
M2@.@)D;[WI<14XY3B,VI83FJPP$ZT:3JW;<:;:C*K[*#;LES35.#;2?+%NR)
MRZD\5C*6%Q4X4.;&5,+4G%WA"-/%3P[FI3Y+\L8\SE)03>O+!.RX+X(_&>\^
M('B'6_#.H>+?ASXYFL_#6B^*[?6OAGINMZ;IFCG4K[4--U+P=KL>JZ_KD<WB
M#2KJS@\R5+^SN&%TRW6D:<\*?:J]E3='$NE*57ZE7I4GB8\GU;&TL1"M*CB<
M(HRFU3;PU>$^6KBJ&D/9XNI/VU*AQJJ[X'GA[">-IXJ4\)._UC!5,(\$YT<1
M)J#<Y1Q]*T9X?#5(^SG)TY0J0:^EZYC<\:U'X*Z/J'BB[UT^*_&EIH6J>)-'
M\9:Y\/+2Y\.+X,USQ7H1TQ].UN^>?PS+XA@=9]$T6>6RL=?L]/N)=,C>>TD,
MUQ]HK"R>$]BE:K'"/$RPL:BTPL\7.O4K2I<G)SMU<5B:U-8AUXT:M>52BH3A
M1=(K)555Y5["IBJ<:.)J4M)XJC"C'#*G6<N:*3PU.&%G.C&E5J8>$:-2I*G[
MKQ+G]G7PM>R3F^\4>-KRW-[XYNM.LI;GPQ';Z)#\0?%7ASQIKNG:=);>%8KF
M:R3Q!X;BGMCJ$]]/$FIWL33R1BU6S*,G0A@8KWYX#^RE"I+XIQR;%1Q. A44
M>6#C!0IX>;A"$ZE""<I>W<Z\M,34>)H9AAG%4J.9<[JQA?2I5RS'Y55J0<G-
MQE4H9A6JR3YJ:Q$*4X0A352E4;KG[.?A;6K6YLAXI\;Z3:ZA_P +5AU>#3+G
MPN5U>P^+VN+XD\1Z;=MJGA2]:"UM-9AL[BPDLFM+F+[%''<3W44DR3WA:TL)
M/!R@E.&!64\E.:]QU,EQ;QF!K3<'";G&<ZU.HHSC2J4JTTZ:J1I5*1C*KQL<
M6JD8PGBXJ#J0NITX?V73RB<*?,Y0M5PM*$I\\)M5H\]-TX^X9EK^RUX TKQ3
MXP\8>'-2UGPIKWC":_O9=4\-Z%\,-,UW1M4U35(=:U+4--\8K\.W\3ZC'=:G
M"9)]*U[6]9TB:*5[273GLMMLN%&+PV%>$I2<*2<4DHP452BYOZO.BH+#XBBU
M.W^U4:]6+C3J4ZD*U.%5%2I[6OAZ]6*JRP]*-*TG)\[AAXX6G64^;VN'KTZ,
M%&,\'4PUVYRG&<JE1S]F\">#;'P!X7T[PKIU_JFJ6VGO?S-J&L/8-J%Y=:GJ
M-UJE]<31:3I]AI]FCWM[.R6FG6%C9VZ%(+6V@@B2--ZM7VOLDJ<:,*%&A0IP
MCSM1I8>E"C2CS5)3J2:ITXIRG.4I/5LPC#EE6FY<TZ]6=6;Y807/4=Y-1IQA
M!7>LFH\TY.52I*=6<YRZ^LBPH * "@ H * "@ H * "@ H ^:_'^A:Y>^+M6
MN;/1M5N[:3[!Y<]MIUW/ ^S3+*-]DL4+*VUT93@G!4@\BOLLJQ6&I8"A"IB*
M5.<>>\95(1:_>3:NFTUHTUY'SV.H5I8JK*%&<HOELU&36D(K=*VFQC>'?#OB
M"W\0:%--H6LP0P:SIDLLLNF7L<4,4=[ \DDDCP!8XU122Q(  )/ KHQ>+PDL
M)BHQQ5&4I4:B252#;;@TDDI7;;T21EA\/7C7H-T:D5&I!MN$DDE)7;=M$CZM
MKX4^F"@ H * "@ H * "@ H * "@ H * "@ H * ,S6M.FU;2-3TNVU74-"G
MO[&YLXM9TF/2Y-3TM[B)HEOK"/6]-U'3WNX2V]!>6-W 64>9#(N5.&)H1Q-"
MIAYRE&G67+/ELFX-KGA=IVC4C>G)QM-1DW3E":C..E&HZ%2%51C)P=XJ7-92
M2]V7NN+O%VDE?E;24E*-XOB_ 'P[;X>^$O"?@S3_ !KXNUC2_"&F/HUA/KL7
M@QK^\TR*U2RTBTU&71O!^G1.-*MXHEMI+:&VEE\L&^>\)8MW8S$5<;6K8BK+
MEK5Z4XSE!)?OIU(3^MJ,E**KQ494U!1^J\E2;>&=14YPQC'DG.5W)U,3+$R3
MM9\ZJ.K1]U)JC5JU'B)6:K1J1C&G6A0YJ,I/!GP\B\)ZEK.O:AXK\4^.O$^N
MP6%A>>)/%Y\-1ZA#H^DR7L^F:)86/A#PWH.DV&G6]QJ5_-^YTU)YI+MGN9IF
M6,QYPDJ>'^KPA&*E4=:K/WG4K5>2-.,ZDI-I*%.$84Z5-4Z-.]2<*:J5JTZC
MJ)U*_M92ERP4XT:*?[K#PJ2C.I&E'XG*I*$/:5:LJM><:5&G*JZ5"C"GZ'4#
M/#C\<K"/Q9?>'9? /CZ#1-.\;V/P[N/B"W_""R>$AXKU*+3&L;!+&W\=2>*6
MAEN-8T^V^U?\(T($DF+22)!&\RUA(O%QPS7[AXU8^6&C4WKK+JF-IXGE=/VD
M86_L[&5(>WE2YH4>DZE*$\\14AAY8J*?MG@'A%B>33V'URCA*]'F]I[/G]S'
M8525'VK4JEDI<DW'W&I-#EM#\7:;K^L^,]"LH+Z*[\"ZU8:%JTES%;I;W%WJ
M'AK1/%,,FG/%<R/-;+I^NV<;--';L)HYE",BK)(F^7!QQO\ RZE+$Q4?MWPM
M25*IIM9RBW#WM5;FY7H:5:4J%3#TI-.6(PU/%1MLJ=3$8O#1C*Z5IJI@ZK:2
M<5"5-J3;E&/)?#;XH77Q)A34;;X:^/?"WAN[L6O]&\4>*+GX<'2M<A%R+>)+
M"Q\+_$+6M9M994WSJ-2TJP CC8.R2E8VNG'FPU.O-JA*K3PU6%&=W5=/$T?;
MPE>FIT5R0<%43JJ7-4BH*:51PBNG0Q=?")>V^JU\5AZE6&E*-7"5Y8>I&U3V
M=62E4A44)1I.+4&Y.*<.;T&UUO3+W5-5T6UN?,U/0TT^35+;R;A/LJ:K%--8
M'SI(EBF\V*WF.(7D*[,/M) ,P]^G.K#6G3KSPTGM:M3HX>O.%G9OEI8K#SYD
MG!^TY5)RC-1F34*D:+TJ2HPQ"C_TYJ5<10A.ZT]ZKA:\>6_,O9\SBHR@Y)!K
MFEW.MZEX=@NM^LZ1I^E:KJ%GY%POV>PUN?5;;2Y_M#PB"7SIM$U-=D4KNGV;
M,BH)(S(XQ<J4JT5>G"M/#M]JT*5"O*%GKI2Q-&7,EROGY5)RC-1<O<E3B]'4
M@ZD5W@IN#>FUI)JSL^MK:FM2 * "@ H * "@ H * "@ H \5\6_$?7- \0ZA
MI-G:Z5);6GV3RWN8+MYCY]C;7+[VBOHU.'F8#"+P!G)Y/T> R?#8K"4J]2=6
M,Y\UU&4$O=G**LG!O9+KN>1BLPK4*\Z4(P<8\MKJ5]8I]))=>QVO@3Q'?>)]
M(N+^_BM()H-2FLU6SCFCB,4=K9S*S+-/*WF;KAP2& P%XR"3YV:8.E@L1"E2
ME*494U-N;3=W*<?LQBK6BNG?4Z\%B)XFE*<U&+C-Q2BFE9*+ZMZZG:UYIV!0
M 4 % !0 4 % !0 4 % !0 4 % !0 4 % &1X@UFW\-Z'J^OW5IJE];:-IUYJ
M<]EH>EWNMZQ=164#W#V^EZ1IL,MUJ5_(L96*W@C=Y'9549-88G$0PE"I7J1E
M*%.UU%7=FU&[NU&,8WO.<Y1ITX*4ZDHPC*2UH495ZL*,91BYNR<W:*TOOJV]
M-(Q4IR=HPC*347D>$_&>E^,/ WA[X@:9:ZK!HWB3PQIOBRQLKJQ:36XM.U33
M(M5M[:?3=-DNVDU-;>94:VM7N2904C,A(W=N94)Y57QF&K?O:F!E4A/V"E4Y
MG3;3]DE%2GS6]VT4WIH8X=_69*$%[)NK.C^]M2Y94ZLJ,N?VCC[.*E%MNIRN
M,=9J+32PO GQ+M_&VI^(=#F\)>,/!>M>'8-&U"XTOQA;^'XKJ[T;Q#_:/]BZ
MQ;'PYXBUB*UBN3I.H V&HR6.IVY@'VNQ@$L9D2I/ZO[?F@^2O4PM6$9QG*CB
M*5*A6G3E.#E1J?NL31FJF'JUJ34M*EU83FHU*=-)N%:E[:E-Q<%4IJI*DY>R
MJ*&(I6E'18BC1<KM04I4ZT:?I=9%'RG-^SHD/C;5?B=I.G^#+'XC7/Q2O_$5
MKXJCLTAUJ[\ ZYX5T_PEJ>@ZMK(T*2ZEO;&);K5;"U/GVR7NFV*^?#'<7#)C
M2I2HY?# T:CPKQ&"SO!XRI23NY9AF./S'!8FDE*"GB,/.674:E2JHRCAEC</
M2;C*G*9)^TQ>,Q&(@L5&.)RG$X"%64VJ+P&!R["8BC-)VA1Q4:68PY(^UIJ6
M)HXN5)XBE%4_GNW_ &+_ !NW@JZ\(:\_AKQ-IVH>*M#O_$^@WOCZW\.^&_'%
MEH^@^*-,/B35H_AY^SUX;O+/Q1/J^NV.K727\WB34+V31-/63Q-%/8PWM=&(
MG[:EAXTJ4,-+#K'3PT4VUEN)Q$<)'#U,*J2H4)TL/'#UHPP]'"Y?3C4Q,\2E
M*]3#5-Z5:="MBJD:SJ2K1I0G6E3C[;%TH8GV]2E6E4G7J4I5.6"]O4K8Z*I/
M$87ZLXXCVU+ZT^ GPR\6_#71-;M/&.JZ7K&K:Q'X$:6]TV^U+4/.NO#7PL\$
M>"=5GNKG5-/M9I'GUGPWJ$\3LKM)!-!)+LF=XHNS-\11QL,5##0=-5\5F=>"
ME&,4H8W$U*U)-0;491C-*HHKEC*Z@Y*S.=1A!X&%*/LZ&"P4,'"%Y/DC2S+-
M,52A%R<I.$,-C,/2BYR<N>G43O&,9S\(TG]G;QA8_#^;X>7/P/\ V9Y[&2[L
M-6U_4T\:>)(9_B7JVC7MQ+IEYXPT^T^!UM!'?(;V6]6YU=_&5O'-;>1)IUVM
MT;FT\Q0E]4RJDK8>>54Z*HT:=IT*5?Z@L%7Q=)5(>R]I>$)\L\))UX^[[;#5
M:=.LNJM4A+'YQBH3J2>:8C%3=62Y*WU:KF$\=3PLW3J*JZ:A+ZM:EBJ2IJ3J
M6K4E/"5\OQ9^R?XG\0+/%<^$/@SK/_"0Z3\.8?'E_%JVJ> =5\6'PGI]_INK
M>%;N\\-_#2^=/"TLW_".:DDD;Q"=_#,-DNGZ>K6]YIVE:G"I+$4VY>PEF-?&
MP7-4493Q&64L(L36I.I*<JN$QBQF,PU%XJ=3VN8U,2\PIXBC4>-YH2G2YJU.
M*AB%@8X6C%.%L)[+.)8Z-.E5]CRRIXK+Y0RW%26%HP]GA:47A*^&J?5J#+S]
MDGQ>_AZ33K:R^&B^(;[X5_#/PAJ_C 7<4OB+4K[X?>(9KJ_\*7M_XM^%/BB/
M6/!?B'PXND:==7VL6NI.J^&["*[T75+<!8=JU:59U927,ZN/I8ZM&U&,<=5G
ME-/ UY8J'L)THSPV/A/-,+*-*HZE>M-P>7UDL0:1]G3A3I4G*E3H?VC1PT4Z
MC6!PM;'5L7@XX5JO"HG["K4P%>E[2$:="M5E&IB$Y4:OUU\&?!&H?#KX;^'/
M!^IRF2\TB.]\R-=6TS6K6R^VZC=Z@NFZ;>Z-X#\%V*Z/9BZ^S6=M:>&-(AMK
M:W@MXK=4A7.V,KK$5*<TY2=.C0I.<U/VE1T:4*3J595*U>=2K/EO4JRJ<U65
MYN,6VER4:;I.O>,::J59S4(<JA%2M\,84Z48<S3J2BE+]Y.;YYMW/4*Y#<*
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% H __]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>g321638tax2.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g321638tax2.jpg
M_]C_X  02D9)1@ !  $ 8 !@  #__@ ?3$5!1"!496-H;F]L;V=I97,@26YC
M+B!6,2XP,0#_VP"$  (" @(" @(" @(" @(" @(" @(" @(" @(" @(" @("
M @(" @,# @(# @(" P0# P,#! 0$ @,$! 0$! ,$! ,! @(" @(" @(" @,"
M @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# __$ :(   $% 0$! 0$!           ! @,$!08'" D*"P$  P$!
M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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M4JNI@1_LU>'WURUU[4_'OQ#UJXBDTF[O[>_?P%;P:YJNC>%;OP9::KJL^C>
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M_P""F_\ _D>CZ[@_^@NC_P"#8?\ R0?5L1_SXJ?^ 2_R#_A&/$O_ $+VN?\
M@IO_ /Y'H^NX/_H+H_\ @V'_ ,D'U;$?\^*G_@$O\@_X1CQ+_P!"]KG_ (*;
M_P#^1Z/KN#_Z"Z/_ (-A_P#)!]6Q'_/BI_X!+_(/^$8\2_\ 0O:Y_P""F_\
M_D>CZ[@_^@NC_P"#8?\ R0?5L1_SXJ?^ 2_R#_A&/$O_ $+VN?\ @IO_ /Y'
MH^NX/_H+H_\ @V'_ ,D'U;$?\^*G_@$O\@_X1CQ+_P!"]KG_ (*;_P#^1Z/K
MN#_Z"Z/_ (-A_P#)!]6Q'_/BI_X!+_(/^$8\2_\ 0O:Y_P""F_\ _D>CZ[@_
M^@NC_P"#8?\ R0?5L1_SXJ?^ 2_R#_A&/$O_ $+VN?\ @IO_ /Y'H^NX/_H+
MH_\ @V'_ ,D'U;$?\^*G_@$O\@_X1CQ+_P!"]KG_ (*;_P#^1Z/KN#_Z"Z/_
M (-A_P#)!]6Q'_/BI_X!+_(/^$8\2_\ 0O:Y_P""F_\ _D>CZ[@_^@NC_P"#
M8?\ R0?5L1_SXJ?^ 2_R#_A&/$O_ $+VN?\ @IO_ /Y'H^NX/_H+H_\ @V'_
M ,D'U;$?\^*G_@$O\@_X1CQ+_P!"]KG_ (*;_P#^1Z/KN#_Z"Z/_ (-A_P#)
M!]6Q'_/BI_X!+_(/^$8\2_\ 0O:Y_P""F_\ _D>CZ[@_^@NC_P"#8?\ R0?5
ML1_SXJ?^ 2_R#_A&/$O_ $+VN?\ @IO_ /Y'H^NX/_H+H_\ @V'_ ,D'U;$?
M\^*G_@$O\@_X1CQ+_P!"]KG_ (*;_P#^1Z/KN#_Z"Z/_ (-A_P#)!]6Q'_/B
MI_X!+_(]N\ :!<2^#=;T35X=9T@:I>:C;.]O<:GX?U>&VN],L;9KK3M0M)+:
M\T^Y4^9Y5W:RQR1R1[HW5T!'R>?RIXC$T_8UTU&E"TZ4HOEG&I.2_F@[.SE"
M<90G'W:D)0DXOW\G=3"P4Y4ES0J\RA5IJ49)*&DH35I1=K--6>ICVG[/_@2\
M75F^(Z2_&VZU9=%@>[^+^B^"/$PL[#PW_:[:#I]CI>G^$=,TN%;*37];D6\>
MPDOYFU.<W-W/E=GE2Y)48TO94U.-6I7E54$JLZU2E3HRJ77N4K4J4*<:6'A1
MH12DXTE.I4E/OC4K0?+"O5CAXTY4H4%4FZ5.G.I2JU(^\W4K.I4P^'G4J8FI
M7JR>'H7J6I02MZ/\"O ?A[P&?ACH%K+H'@:?2=>TS4M T"TT#0(M5N==:U9M
M?N[S1M$M;RV\0V7V8BVN["XLP#,6N([AX+9K92E4E3PE-UJG/E\,$L+4<KSP
M]7 5(UZ6(I\R<'6J8B"Q%?VD*E&I7<ZGLDZE3F*?LJ53%U(X:BWC\17KXB,J
M:<*U/$PK4JN#J0?N2PCH588>,6G5AA\/AZ$*RI1G&I<T3X2V>E:/XIT_4/&/
MC;Q/K'C.&TLO$/C+7+KP[!XIN]*L('L[+1[>3PWX:TG3=-L8;*>]A0V>F03[
MM1NKDS&\F-R*FX2I4Z#HTU0CB7BZM-Q<J>)K2]A&K]8A-RBZ=:EA</AZM&FJ
M=%X>FJ4:<$Y<T03I8AXJG*4*T</'#4)7O+#4J;Q$Z+I3E><JE&OB:N(A5Q$J
M\Y5FO;2JTXJFN%@_98^'-KXB\5>([?4/%]E/XKOXM0N[/1]6T_PU':R1&Y*V
MXU7PQH^G:UKME']I9+6#Q#JNM)ID")::2+"S!MV]/*,XQ>2TZU/#JE7=>;G.
M6)I1JMR<YU'+D?+1564JDW6Q/L_K>*?)];KXATJ/L_,SK*,)GBP4<3SX:& I
M0HTHX:2IKDIT*&'@GS1FU&-+#4E&G!PI1G[2K&FJM>M.I[E9>)+&^\2:]X6A
MBNUU#P[I^@:E>S21PK9RP>(GUA+)+619VD>5#HEUYHDBB"^9%L9]S>7Y=->T
MH5,1'2%+%U<&T_B]K1PV"Q<I)*Z]FZ>/HQB[J7/&HG%1C&4_1E4C#$K"V?M'
MAJ6*3^S[.MB,9AHQO>_.IX*JY*W*H2IM2;<HPZ&D6% !0 4 % !0 4 % !0
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MIRP<*LH\MY/EN_=36\'LG;?H<Y_PG_AK_HG6A_\ ?5A_\HZ[/[*QG_0WK?\
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MH_0ZX9;0ISA.,ZEX24DFXVNG=7M%::'I5>,>@% !0 4 % !0 4 % !0 4 %
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M=.L?&GA^RMI_#EI>V>EV^JWLUK;:V]M*DYLI1-:VDP,"+"*.,<(TN:G/$XO
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M>\F[W;"I^]G"K5_>5*4>2$Y^]*$%%148R=W&*C&,>5-+EBE:R1U= !0 4 %
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MYT<-3IU%RSCS75T]Y2:U3:V:.JKA.D* "@ H * "@ H * "@ H * "@ H *
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M^;W?9\UN64H[\ZO?EOLNQYF(S'ZO6G2]CS<MM>>V\4]N5[7MN>JUX9Z84 %
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M&4G-VE>;LU+I?MI8\ZM'+YXAPJJ]>3BFOWF[24?A]W:WZ]3TZO%/1"@ H *
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MFM:_LYN-[=+VO8X,%7>*P>$Q3CR/$4:55Q6T?:0C.U_*]C0K Z0H * "@ H
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M^3E5K\W7E[:7ZGH]>.>@% !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0
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M*E5347"O"K3UY+OIZD84 % !0 4 % !0 4 % !0 4 % !0!Y5I/_ "5GQ/\
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M/_O'+\5N;X=-]M-CR_:5/[4]G[27L_Y>9\O\&_PWMOKMOJ>QU\\>L% !0 4
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8E*]G356O)4H\JE"G%*<ZLKS/4*R-C__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>g321638u44053_bwlogo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g321638u44053_bwlogo.jpg
M_]C_X  02D9)1@ ! @$ 8 !@  #_[0T24&AO=&]S:&]P(#,N,  X0DE- ^T
M     !  8     $  0!@     0 !.$))300-       $    'CA"24T$&0
M    !    !XX0DE- _,       D           $ .$))300*       !   X
M0DE-)Q        H  0         ".$))30/U      !( "]F9@ ! &QF9@ &
M       ! "]F9@ ! *&9F@ &       ! #(    ! %H    &       ! #4
M   ! "T    &       !.$))30/X      !P  #_____________________
M________ ^@     _____________________________P/H     /______
M______________________\#Z     #_____________________________
M ^@  #A"24T$"       $     $   )    "0      X0DE-!!X       0
M    .$))300:      ![    !@              +0   +$    - '4 -  T
M #  -0 S %\ 8@!W &P ;P!G &\    !                          $
M             +$    M
M     #A"24T$$0       0$ .$))3004       $     CA"24T$#      *
M9P    $   !P    '    5   "3    *2P 8  '_V/_@ !!*1DE&  $" 0!(
M $@  /_N  Y!9&]B90!D@     '_VP"$  P(" @)" P)"0P1"PH+$14/# P/
M%1@3$Q43$Q@1# P,# P,$0P,# P,# P,# P,# P,# P,# P,# P,# P,# P!
M#0L+#0X-$ X.$!0.#@X4% X.#@X4$0P,# P,$1$,# P,# P1# P,# P,# P,
M# P,# P,# P,# P,# P,# P,#/_  !$( !P < ,!(@ "$0$#$0'_W0 $  ?_
MQ $_   !!0$! 0$! 0         #  $"! 4&!P@)"@L!  $% 0$! 0$!
M      $  @,$!08'" D*"Q   00! P($ @4'!@@% PPS 0 "$0,$(1(Q!4%1
M81,B<8$R!A21H;%"(R054L%B,S1R@M%#!R624_#A\6-S-1:BLH,F1)-49$7"
MHW0V%])5XF7RLX3#TW7C\T8GE*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8W
M1U=G=X>7I[?'U^?W$0 " @$"! 0#! 4&!P<&!34!  (1 R$Q$@1!46%Q(A,%
M,H&1%*&Q0B/!4M'P,R1BX7*"DD-3%6-S-/$E!A:BLH,')C7"TD235*,79$55
M-G1EXO*SA,/3=>/S1I2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V)S='5V=W
MAY>GM\?_V@ , P$  A$#$0 _ ,+ZQ]%ZJWJ75W4]-R1C#(R75N919Z?I[GN:
M]CFLV>EL_L+>^O\ TO.R>K85^#@W9#'X%7J6X]+K 7!S]N^RIKO?Z>W^PJ'6
M_KI]:L+J74L:CJCQ7B7WU5!U=!(;6Y[:]Q]'W?16S]>?K+U_I75<6K!Z@^BO
M(PZ[WU[*G#>7/K<YOJ5.<W=L24[_ /BTJMI^K(IN8ZJVO)O%E=C2U[3O)VO8
M[W-6>SKW5*_K3UGIN=U:RGIG2\=V2VUM6.+(VT6;7/LH?6_9Z[]GZ/W^Q;'U
M!ZIG]5^KK,OJ%QR,@W7,]0M:WVL>6L$5-8Q<X_I SOK=UO*ZITS)LZ3GXYIH
MM=CN>=X;15ZM58#[JG_HK?0N]-B2GJ<+J.3TK%?^W\LWNORO3Z<_TVMMM98R
MNRFG[-B-]U['^M4_V?X/U/YM5>M_7OIN%T3(ZC@3EWU6'%%+F/9Z>1K[,UMC
M:WX[6?\ ";/5_FZ5F=:S>OYE>);5T>TXV/G5,KNLH99FU5UL8^WJ./C6FRFN
MV][[*\>RQC_L_H;[:O5M_0X&;]7NO6])^LN,SIV5ZMW4*<FD6 .?94'/]S;&
M.L;D7-W;[?2WI*?1;_K'TK']%MK[!=D,=97CBBXW>FS^=N?B>E]IJJ;^_;5_
M40[?K=]7:3B;\QNWJ#/4PWM8]S+0-'-KM8QU?JM=[/0W>MOV,]/](Q88JZA1
M];C]9KL'*^PYW3G8S*@SU+Z;&N9;77=CXYM])M[*MU?[EMOZQZ*Q.E?5[K?3
M+/JK5D8ESSA7Y.1F>FW>RAN2YC*:R]IVN<WT_5O]+^:24[WUD^LF5E?5^_K/
MU4S_ '=.L+<REU(G;IZOJTY53<BFS'_G?^*];^P9_6[<KH'2,K%ZE91;F^^_
M)<VCV55M=?U*S(:^GT:_LC*K:&O8QGZQZ/J^JA?4WI^0,KZQU]1P[:J.HYEE
MM?KL+6VTV;V?]3]*MRSNA?5SK'1^D]<8[&'4'8OVC$Z3AWCV6TV;+K[2/\(S
M-_0>I5O_ )S%]/\ PB2GJ\/ZS]%R[F8U-[S?91]IIK?58QUU,;O7QFOK9]HW
M-_T'O_D*K7]?/JG8VM[<X;+;10+#5:UC;#]&N^Q]368^[_A_3_\  WKE^D8?
M6&?6+H'4LCI^8VBG%LIO+J6,92_98STJ,7'/ZMAU;FLH]1GKY'_#6*@[HW6S
M]2<GI_[-RCF6=6^TLH-?N-1:VSU=T[/S?3^GO]3V)*?0L_ZT=#Z??;1E9.QV
M-Z?VIS6/>RGUCLQ_M=U3'U8WK._F_6>S]_\ FU*WZR=%JS3@OR(N;8RAY#'F
MMMMFM./9D-9Z%=UOYM;[%RV!C9G3^M=:Q^H]'NZIT_K=S<O%>RIME;C/J,HR
MV9+F-QW5.V?TGT_2?2JN%T+)Q\_JO2NK]+S.H4YN7]LPK:+7,QGEQWSE75VT
M-H?2X,?ZEE?J_H_T-?\ ,LO2G__0CUGZW=*HS>H8^5]6,#(MJMNKONW-W6.:
MYS+;=WV7U-UGTOI[UK?6_P"L.#TSJ&-CY/0L3J._$KLIMO<"]E9+F^@3;CW.
M]KVN_/7/?6+_ )C_ +1ZMZ_[7^U^OD>KZ?V?TO5W/]3TMWO]'U/H;_S%M?7;
M_FO^T,']M?M'[5]AKV_8O1]/9N?]+U_?ZN_?_824]1]1\[%ZAT/[7BX5?3J[
M+[9QJG;F!P=L>]GMJ:S?M^@QBCD_6#-P\OJ+/39D58K[+3O?Z1KIIHZ=;977
MLIM]:RRS-NL;ZOI_\8A_XO?L/_-\_L[UOL?VF[T?M.WU8W>[U?1_1_SF_P#L
M+9N_8V[(]?[-NVO^U;]D[=M/K?:-WYGI?9/5]3_!_9_^#24XU_UPN:X58^ ;
M[QN9:QKW.VWU>H[)P_T--OZ1C&5.99_-_K-;[?21+/K!U&W+JQJ:*L=YR:VF
MNU[B]^,\V-==664NQK-S6UOWXN3D>D^ST,CTK%=S?^:_HV_;OL/H_:?T_J^E
MM^U;!_/;_P#M7]G_ '_TOV?_ ()1'_-6<G;]AGUJ_M4>E/K[_P!5]:/\/]H_
MF-_O]?\ X1)3GM^M^4RFO*R<*MF,^JC(<:KS98&9+;GTM96ZBEK[6.Q_TOZ1
MC/?^CLL3GZV9HK<]_3VL]*JS(MWVO9-3/LY_0-LQFVV/=]J?7^EKQZ_4H_G/
M2MWK:;^Q_P!'M^S3%/I1LX]_V+T__!?LNW_A/253#_YJ?97_ &+[!]EVV>IZ
M7I>GL_1^OOV>ST_Z/ZGYG\Q_P:2FE;U/K#OJKFY9MJHZ@RZ^C'OKA[&EN0_$
MI>YEM8;^CC;]!^_^<_D*O_SGS3U$6!];<48QI.*Z=<]EV+5E,;935DY3W8_V
MO[,RFJI_JW>I_P 8MUG[$^SY6S[-]G]9WVR-GI^O+?5^T?F?:/4V>IZGZ3U%
M#*_YN^B_[7]C]']+ZGJ>GMGU*_M6[=_W<]#U_P#NSZ/J?I4E.:WZVVFNO(LQ
M:J<8M;ZMEEY!KL?7?=M<!0YOHL?C>F^S?ZGZ3^8_P2C_ ,[<QSF4LP0<HN<'
M4E]@<X-=4TNQZCC^ON95?]HL9E58GL_ZYZ&I7_S=^RM]/[']E@;=OI>GMVOV
M;8]FWT?6V_\ !>JL#J'_ #/^T8_V>?1VMG]G^CZ4>JV-NW]8^T>OZ?J_LK]>
M_FO7_P"TZ2FYC_6O/R:Z74=-WF]CKZ]UWI!U+:AD-<QV157OL]1[,;_N+[_5
M^UOK]7TM?I'43U'%-KVMKMK>:[:AOECA#MEK,BG&NKL]-[+-CZOS_P!'ZE?Z
M15\;_FMLO^R_8=GZ7[1Z?I1Q^M>MM_D?S^_\Q6^E_LO[&W]D^A]DD[?LVWTY
M_.CTO9N24__9 #A"24T$(0      50    $!    #P!! &0 ;P!B &4 ( !0
M &@ ;P!T &\ <P!H &\ <    !, 00!D &\ 8@!E "  4 !H &\ = !O ',
M: !O '  (  V "X ,     $ .$))300&       '  @  0 ! 0#_[@ .061O
M8F4 9$     !_]L A  ! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! @(" @(" @(" @(# P,# P,# P,# 0$! 0$! 0$! 0$"
M @$" @,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P/_P  1"  M +$# 1$  A$! Q$!_]T !  7_\0 C@   @(# 0 #
M            " D !P4&"@0" PL! 0$! 0                 ! @,0   &
M @ & 0$&! (+      (#! 4&!P$( !(3%!4)$18A(B,D%PJV&'@Y,4$SU"55
MEI?7*%@9&A$  @(" 00" @,           $1 B$Q05$2(C)Q@?!AD:'!_]H
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M22_5<=;(;9>$A* V'I)'98)P8CB+*\IW(]2Z2.*_02D#V7E,40A4'E)PFFJ
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M$HO!O9!N'%H9'V>*QILN9^RV,# WIFIF;0KTZ%R5%-[:B+)2(4YBY8:9@LH
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M;[3\SW/3YN3K_?Y?GX^SYXI@^;M]/=9H\[X;N/)D^!\MV/6\SRC[?Q'>??\
3)\G-R='\7X^?C_/@#,\ 3@#_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>g344362g07w38.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g344362g07w38.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I
M*C0U-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'
MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7
MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1  (! @0$ P0'!00$  $"=P ! @,1
M! 4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)B<H
M*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#A(6&
MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76
MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_  !$( #L X@,!$0 "$0$#$0'_V@ ,
M P$  A$#$0 _ ./^,UQ=:+\2[^VTZ]NK:!TCE,<<[A0S+DX&>.>U ' ?V_K/
M_07O?_ A_P#&@#ZCD@&H_L^137,DS3PZ-]I25965Q(L1(;<#GK^= 'RY_;^L
M_P#06O?_  (?_&@#TWX#ZKJ-Y\25BN;^YGC^R2G;),S#/'8F@#ZAH \[\2_&
M#2_".H?9-8T+6;<LS"*0PQ[)@IP64[^1T]^10 S3?C!9ZS:&[TSPGXEO+8''
MFPV2LN1VR'YH +#XRZ+>^)+/09=&UFROKJ58D6[MECVD]"06SC\* /1Z "@!
M"0H))P!U)H ;#-%<01SP2)+%(H9'1@58'H01U% #Z "@ H * /-?$7QIT7PM
MJTFFZMHNLP3H3M)A3;(N<!E._D'% &YX/\?VWC0+-I^BZI#9,&Q=W$2+$2#@
M@$,23^':@"+Q=\1K7P9<;=1T/5Y+8LJ)=P0HT3L1D*#N!SU'([4 =)HVI-J^
MEPWS6%U8&7)$%V@611[@$XS0!?H * "@ H * "@ H * /ECXY:3J5W\3KN6V
MT^YFB,$0#QPLP^[Z@4 >;OH6KQHSOI5XJ*,EC P 'Y4 ?5=C&\O[/:QQHSNW
MA]@JJ,DGR3P!0!\J_P!@:S_T"+W_ ,!W_P * /2?@1975E\48TN[::W=K*4A
M94*DCCUH ^I: /!/VF/^/;PW_OW'\HZ .G^"U];Z7\&8KZZD$=O;O/)(S'
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M::YJ?Q7AOX?$+6T<^D071A%I&V(C+DPY/;.?FZ\T =A\0?\ DG?B+_KPF_\
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M-RLNW&"#U&* )?\ A"/"G_0M:7_X")_A0!G+X5T+2/&>DW^FZ5;6=RT4T3-
MFP%< X*C@\]\9H Z^@ H * "@ H * "@ H * "@ H * "@ H * "@ H * (S
8!"91*8D,@Z/M&?SH DH * "@ H * /_9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
