DFVL
Timothy Breedon - Non-Executive Independent Director of iPath US Treasury 5-year Bull ETN

Timothy Breedon

Non-Executive Independent Director since 2012

Total compensation: $220,000
Age: 59

Timothy J. Breedon is Non-Executive Independent Director of Barclays PLC., effective November 1, 2012. He joined Barclays after a distinguished career with Legal & General, where, among other roles, he was the group chief executive until June 2012. Tim’s experience as a CEO enables him to provide challenge, advice and support to the Executive on performance and decision-making. Tim brings to the Board extensive ?nancial services experience, knowledge of risk management and UK and EU regulation, as well as an understanding of the key issues for investors. Other current appointments Marie Curie Cancer Care; Chairman, Apax Global Alpha Limited; Chairman, The Northview Group.

The investment seeks to provide investors with exposure to the Barclays 5Y US Treasury Futures Targeted Exposure Index™.
The Barclays 5Y US Treasury Futures Targeted Exposure Index™ (the "index") is designed to decrease in response to an increase in the 5-year Treasury note yields and to increase in response to a decrease in 5-year Treasury note yields. The index targets a fixed level of sensitivity to changes in the yield of the current "cheapest-to-deliver" note underlying the relevant 5-year Treasury futures contract at a given point in time.

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