1.What is/are the purpose(s) and the process(es) of the ETF identification and pre- selection?

a.Not all ETFs are suitable for a Robo Portfolio. ETFs are selected according to the specifications that match an automated investment strategy, e.g. fees, tracking error,etc.

b.The combination of assets or asset classes is empirically proven to be more successful in maximizing profit per risk level than buying individual stocks. A basket of ETF's is therefore pre-selected according to the specifications that match an automated investment strategy, e.g. fees, tracking error,etc.

c.ETFs are pre-selected due to the legal regulations which prohibit Robo Advisors to invest in many available ETFs. Robo Advisors are provided with a list of ETFs, which are, from a legal perspectiveinvestable.

d.All available ETFs are suitable for a sustainable and long-term automated Robo Advisor strategy. The preselection process is simply undertaken because the Robo Advisor cannot invest in all available ETFssimultaneously.

e.The Robo Advisor only undertakes a preselection process in order to select only those ETFs for which the Robo Advisor obtains provision from the ETF fund manager. Criteria like fees and tracking error are of no importance for the RoboAdvisor.