Weekly Bond List

WEEKLY BOND LIST

02 September 2013

ADVISORY DESK S. Rabreaud / D. Litvinskaite

TRANSACTIONS DESK J. Chakowski / A. Büchli / D. Braun % 058 321 96 44 EUR BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0581166708 12'339'151 100000 / 1000 A A2 EUR 3.375 A Abn Amro Bank Nv 21.01.14 0.4 101.18 0.24 14 Netherlands Financial XS0408832151 4'969'315 1000 AA- Aa2 EUR 4.375 A Rabobank Nederland 22.01.14 0.4 101.57 0.23 14 Netherlands Financial XS0584381544 12'387'615 50000 A A2 EUR 3.625 A Raiffeisen Bank Intl 27.01.14 0.4 101.33 0.25 15 Austria Financial XS0285388632 2'903'038 1000 AA+ A1 EUR 4.250 A Ge Capital Euro Funding 06.02.14 0.4 101.69 0.23 13 USA Industrial XS0597611705 12'573'047 100000 / 1000 A A2 EUR 4.125 A Abbey Natl Treasury Serv 03.03.14 0.5 101.79 0.47 35 United Kingdom Financial XS0754262755 18'104'438 100000 / 1000 A- A3 EUR 3.625 A Kbc Ifima Nv 07.03.14 0.5 101.61 0.39 28 Belgium Financial XS0399249431 4'823'022 50000 / 1000 AA+ Aaa EUR 4.125 A Autobahn Schnell Ag 14.03.14 0.5 102.17 -0.04 -16 Austria Consumer XS0418730601 10'044'166 50000 / 1000 A- A2 EUR 4.625 A Fortum Oyj 20.03.14 0.5 102.28 0.37 25 Finland Utilities XS0418799630 10'044'330 50000 / 1000 A+ A1 EUR 4.500 A Schlumberger Finance Bv 25.03.14 0.5 102.30 0.32 19 USA Energy XS0427065585 10'160'234 50000 / 1000 A+ A1 EUR 5.500 A Skandinaviska Enskilda 06.05.14 0.7 103.48 0.26 12 Sweden Financial XS0428007081 10'172'175 50000 / 1000 AA- Aa3 EUR 4.500 A Nordea Bank Ab 12.05.14 0.7 102.89 0.25 11 Sweden Financial DE000A0SLVZ0 10'174'826 1000 AA EUR 3.125 A Land Hessen 13.05.14 0.7 102.04 0.14 -1 Germany Sovereign-linked Entity XS0428149545 10'175'002 50000 / 1000 A- A2 EUR 4.250 A Vattenfall Ab 19.05.14 0.7 102.70 0.38 23 Sweden Utilities XS0627082984 13'012'465 100000 / 1000 A+ A1 EUR 3.000 A Paccar Financial Europe 19.05.14 0.7 102.09 0.02 -13 USA Financial XS0430452457 10'206'932 50000 / 1000 A A2 EUR 5.250 A Barclays Bank Plc 27.05.14 0.7 103.53 0.36 20 United Kingdom Financial XS0302633168 3'124'005 50000 A- Baa2 EUR 4.875 A Merrill Lynch & Co 30.05.14 0.7 103.09 0.62 46 USA Financial XS0441800579 10'385'648 1000 AA+ A1 EUR 4.750 A Ge Capital Euro Funding 30.07.14 0.9 103.88 0.42 24 USA Financial XS0446860826 10'461'089 50000 A A2 EUR 3.750 A Societe Generale 21.08.14 1.0 103.16 0.44 25 France Financial DE000EH1A4G9 10'521'858 1000 NR Aa3 EUR 2.750 A Hypothekenbank Frankfurt 09.09.14 1.0 102.44 0.33 13 Germany Financial XS0451689565 10'541'079 1000 A A2 EUR 4.000 A Bmw Finance Nv 17.09.14 1.0 103.67 0.43 23 Germany Automaker XS0420117383 10'061'239 1000 A- A3 EUR 4.625 A Bayer Capital Corp Bv 26.09.14 1.0 104.45 0.40 20 Germany Consumer XS0455122076 10'600'295 50000 / 1000 AAA Aaa EUR 3.000 A Ing Bank Nv 30.09.14 1.0 102.82 0.35 15 Netherlands Financial XS0547937408 11'844'818 50000 / 1000 A A2 EUR 3.100 A Bp Capital Markets Plc 07.10.14 1.1 102.84 0.48 28 United Kingdom Energy XS0456451938 10'630'761 1000 AA A1 EUR 3.125 A Sanofi 10.10.14 1.1 102.93 0.44 24 France Consumer XS0702340505 14'237'909 100000 A- A3 EUR 2.250 A Volkswagen Leasing Gmbh 10.11.14 1.2 102.00 0.54 34 Germany Automaker XS0336018832 3'617'589 50000 AA A1 EUR 4.750 A Pfizer Inc 15.12.14 1.2 105.62 0.33 12 USA Consumer

XS0729046051 14'676'642 1000 A A2 EUR 2.125 A Bmw Finance Nv 13.01.15 1.3 102.12 0.55 33 Germany Automaker XS0469028582 10'753'495 50000 / 1000 AA- Aa2 EUR 3.500 A National Australia Bank 23.01.15 1.3 103.88 0.67 45 Australia Financial XS0434882014 10'279'985 50000 A- A2 EUR 4.500 A Axa Sa 23.01.15 1.3 105.09 0.78 56 France Financial DE000EH1A4X4 10'677'853 1000 NR Aa3 EUR 3.000 A Hypothekenbank Frankfurt 26.01.15 1.4 103.57 0.42 20 Germany Financial XS0470518605 10'775'895 1000 A- A3 EUR 3.500 A Volkswagen Intl Fin Nv 02.02.15 1.4 103.93 0.69 47 Germany Automaker XS0483673132 10'967'445 50000 / 1000 A A2 EUR 4.000 A Fortis Bank Nederland Nv 03.02.15 1.4 104.46 0.81 59 Netherlands Financial XS0491898184 11'078'607 50000 / 1000 A WR EUR 3.375 A Unibail-Rodamco Se 11.03.15 1.5 104.06 0.66 44 France REITS XS0416848363 10'006'177 50000 / 1000 AA- Aa2 EUR 4.375 A Statoil Asa 11.03.15 1.5 105.76 0.54 31 Norway Energy FR0011033281 12'808'526 100000 A EUR 3.375 A Lvmh Moet Hennessy Louis 07.04.15 1.5 104.37 0.60 36 France Consumer FR0010765354 10'230'792 50000 A EUR 4.375 A Air Liquide Sa 03.06.15 1.7 106.59 0.56 32 France Basic Materials FR0010913806 11'442'114 50000 AAA Aaa EUR 2.500 A Credit Agricole Home Loa 24.06.15 1.8 103.49 0.55 30 France Financial XS0438843871 10'327'654 1000 A- A3 EUR 4.125 A Enbw Intl Finance Bv 07.07.15 1.8 106.11 0.76 51 Germany Utilities XS0493491657 11'099'556 50000 / 1000 A- A3 EUR 3.875 A Wesfarmers Ltd 10.07.15 1.8 105.61 0.80 55 Australia Consumer XS0525490198 11'512'020 1000 A+ A2 EUR 2.875 A Bnp Paribas 13.07.15 1.8 103.74 0.83 58 France Financial XS0802756501 18'972'432 100000 A A2 EUR 2.375 A Societe Generale 13.07.15 1.8 102.72 0.89 64 France Financial XS0576107519 12'262'401 50000 A- A3 EUR 2.750 A Volkswagen Leasing Gmbh 13.07.15 1.8 103.57 0.80 54 Germany Automaker XS0526338693 11'523'293 50000 / 1000 A A3 EUR 4.875 A Royal Bk Of Scotland Plc 15.07.15 1.8 107.00 1.05 80 United Kingdom Financial XS0526903827 11'530'033 50000 A A2 EUR 3.000 A Credit Agricole London 20.07.15 1.8 103.98 0.84 59 France Financial XS0226062981 2'233'293 50000 / 1000 A- Baa2 EUR 3.500 A Citigroup Inc 05.08.15 1.9 104.88 0.92 66 USA Financial XS0532183935 11'609'972 50000 / 1000 AA- Aa3 EUR 2.750 A Nordea Bank Ab 11.08.15 1.9 104.03 0.64 39 Sweden Financial XS0537421736 11'676'290 50000 / 1000 AAA Aaa EUR 2.250 A Ing Bank Nv 31.08.15 2.0 103.22 0.61 35 Netherlands Financial XS0385771158 4'535'030 50000 A A2 EUR 5.875 A Philip Morris Intl Inc 04.09.15 1.9 110.13 0.75 48 USA Consumer DE000A0T06N0 4'538'472 50000 A- A3 EUR 6.125 A Daimler Intl Finance Bv 08.09.15 1.8 110.69 0.74 48 Germany Automaker XS0385754733 4532964 1000 A- A3 EUR 5.250 A E.On Intl Finance Bv 08.09.15 1.9 109.06 0.69 43 Germany Utilities

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. EUR BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0539871763 11'717'580 50000 / 1000 Aaa EUR 3.000 A Royal Bk Of Scotland Plc 08.09.15 1.9 104.67 0.65 39 United Kingdom Financial FR0010231357 2'268'667 1000 AAA Aaa EUR 3.125 A Caisse Francaise De Fin 15.09.15 1.9 105.01 0.63 37 France Financial XS0541454467 11'736'058 1000 AA+ A1 EUR 2.875 A Ge Capital Euro Funding 17.09.15 1.9 104.00 0.88 61 USA Financial XS0544720641 11'787'478 50000 / 1000 A A1 EUR 2.875 A Credit Suisse Guernsey 24.09.15 2.0 104.08 0.86 60 Switzerland Financial XS0230663196 2'284'121 1000 A+ A1 EUR 3.375 A Unilever Nv 29.09.15 2.0 105.83 0.53 26 Netherlands Consumer FR0010245555 2'301'503 1000 BBB+ A3 EUR 3.625 A Orange Sa 14.10.15 2.0 105.74 0.86 58 France TMT XS0832873060 19'599'080 1000 AA+ A1 EUR 1.250 A Ge Capital Euro Funding 15.10.15 2.1 100.71 0.91 63 USA Financial XS0550978364 11'886'802 50000 / 1000 A A2 EUR 3.375 A Abbey Natl Treasury Serv 20.10.15 2.0 104.61 1.16 88 Spain Financial XS0630375912 13'059'736 100000 / 1000 A- A3 EUR 4.375 A Kbc Ifima Nv 26.10.15 2.0 106.74 1.16 88 Belgium Financial

XS0576922271 12'277'458 100000 / 1000 AA- Aa3 EUR 3.125 A Pohjola Bank Plc 12.01.16 2.2 105.12 0.92 60 Finland Financial XS0408285913 4'958'427 50000 / 1000 A- A3 EUR 6.250 A Vodafone Group Plc 15.01.16 2.2 112.52 0.87 55 United Kingdom TMT XS0732496194 14'740'479 1000 A A2 EUR 3.125 A Ubs Ag London 18.01.16 2.3 105.02 0.97 65 Switzerland Financial FR0011153006 14'345'454 100000 BBB- Baa3u EUR 4.375 A Autoroutes Paris-Rhin-Rh 25.01.16 2.2 107.37 1.22 90 France Consumer XS0583801997 12'368'122 1000 A A2 EUR 3.250 A Bmw Finance Nv 28.01.16 2.3 105.66 0.85 52 Germany Automaker XS0412968876 2'333'256 1000 AA Aa1 EUR 4.500 A Shell International Fin 09.02.16 2.3 109.32 0.62 29 Netherlands Energy XS0590179692 12'403'118 100000 / 1000 AA- Aa3 EUR 3.625 A Nordea Bank Ab 11.02.16 2.3 106.45 0.93 60 Sweden Financial XS0592450232 12'486'181 100000 / 1000 AA- Aa3 EUR 3.625 A Svenska Handelsbanken Ab 16.02.16 2.3 106.49 0.93 60 Sweden Financial XS0747743937 14'997'635 100000 / 1000 A A2 EUR 2.177 A Bp Capital Markets Plc 16.02.16 2.4 103.03 0.92 58 United Kingdom Energy XS0594515966 12'526'456 50000 / 1000 A- Baa1 EUR 4.500 A Morgan Stanley 23.02.16 2.3 107.14 1.53 119 USA Financial FR0011008366 12'484'774 1000 NR Aa1 EUR 3.000 A Caisse D'Amort Dette Soc 25.02.16 2.4 105.92 0.58 25 France Sovereign-linked Entity XS0599711826 12'599'897 1000 A+ A2 EUR 3.500 A Bnp Paribas 07.03.16 2.4 106.05 1.04 69 France Financial XS0599962072 12'614'226 100000 A A2 EUR 3.625 A Credit Agricole London 08.03.16 2.4 106.24 1.08 74 France Financial XS0605207983 12'659'569 50000 / 1000 A A2 EUR 4.125 A Barclays Bank Plc 15.03.16 2.4 107.54 1.08 73 United Kingdom Financial XS0605440345 12'670'543 50000 A- A3 EUR 5.000 A Kbc Ifima Nv 16.03.16 2.4 109.09 1.31 97 Belgium Financial XS0760245539 18'189'446 100000 / 1000 A- EUR 1.750 A Scania Cv Ab 22.03.16 2.5 101.76 1.04 69 Germany Automaker XS0612837657 12'782'073 1000 AA+ A1 EUR 3.750 A Ge Capital Euro Funding 04.04.16 2.4 106.73 1.09 73 USA Financial XS0686597286 13'990'788 100000 / 1000 A NR EUR 3.500 A Unibail-Rodamco Se 06.04.16 2.5 106.19 1.06 70 France REITS EU000A1AJM31 10'306'346 1000 AAA Aaa EUR 3.625 A European Union 06.04.16 2.5 107.96 0.51 15 SNAT Government XS0615797700 12'828'848 100000 / 1000 A A2 EUR 4.250 A Abn Amro Bank Nv 11.04.16 2.5 107.68 1.22 87 Netherlands Financial XS0618909807 12'875'199 100000 A A2 EUR 4.000 A Societe Generale 20.04.16 2.5 107.46 1.10 73 France Financial XS0619051971 12'882'207 1000 AA- Aa2 EUR 3.875 A Rabobank Nederland 20.04.16 2.5 107.20 1.07 71 Netherlands Financial XS0426090485 10'147'813 1000 AA- Aa2 EUR 4.375 A Rabobank Nederland 05.05.16 2.5 108.64 1.06 69 Netherlands Financial XS0428037740 10'172'448 1000 AA A1 EUR 4.500 A Sanofi 18.05.16 2.6 109.90 0.78 40 France Consumer XS0627824633 13'024'292 100000 / 1000 A A3 EUR 4.750 A Royal Bk Of Scotland Plc 18.05.16 2.5 108.83 1.39 101 United Kingdom Financial XS0628653007 13'029'318 100000 / 1000 A+ A1 EUR 3.750 A Skandinaviska Enskilda 19.05.16 2.6 107.29 1.00 62 Sweden Financial XS0629960302 13'058'198 100000 / 1000 A+ A2 EUR 3.875 A Ing Bank Nv 24.05.16 2.6 107.02 1.23 85 Netherlands Financial XS0633014427 13'105'388 100000 / 1000 A A2 EUR 3.472 A Bp Capital Markets Plc 01.06.16 2.6 106.73 0.97 58 United Kingdom Energy XS0633111207 13'107'758 100000 A- A3 EUR 3.375 A Volkswagen Leasing Gmbh 03.06.16 2.6 106.31 1.03 65 Germany Automaker XS0432070752 10'234'546 50000 AA A1 EUR 4.750 A Pfizer Inc 03.06.16 2.6 110.68 0.80 41 USA Consumer XS0257807957 2'593'122 50000 / 1000 A- A3 EUR 4.750 A Vodafone Group Plc 14.06.16 2.6 110.56 0.88 49 United Kingdom TMT XS0637844605 13'180'460 100000 / 1000 A A2 EUR 3.750 A Jpmorgan Chase & Co 15.06.16 2.6 107.29 1.07 68 USA Financial XS0435070288 10'279'027 50000 / 1000 A A2 EUR 6.375 A Lloyds Tsb Bank Plc 17.06.16 2.6 114.33 1.11 72 United Kingdom Financial XS0640936067 13'210'685 100000 / 1000 A A2 EUR 3.250 A John Deere Bank Sa 22.06.16 2.7 106.49 0.89 50 USA Financial DE000A0JRFB0 2'609'076 1000 A+ A1 EUR 4.500 A Basf Se 29.06.16 2.7 110.28 0.79 39 Germany Basic Materials XS0642351505 13'243'802 1000 AA Aa1 EUR 2.875 A Deutsche Bahn Finance Bv 30.06.16 2.7 105.68 0.82 43 Germany Transportation DE000A1R0683 20'839'800 1000 A- A3 EUR 1.000 A Daimler Ag 08.07.16 2.8 100.46 0.84 44 Germany Automaker XS0440279338 10'359'332 50000 / 1000 AA- Aa2 EUR 4.750 A National Australia Bank 15.07.16 2.7 110.07 1.15 74 Australia Financial FR0010922542 11'525'604 50000 A- A3 EUR 2.875 A Schneider Electric Sa 20.07.16 2.8 105.42 0.95 55 France Industrial

XS0667463995 13'659'526 1000 AAA Aaa EUR 2.250 A Bk Nederlandse Gemeenten 24.08.16 2.9 104.20 0.81 39 Netherlands Financial XS0820869948 19'327'075 100000 / 1000 A- NR EUR 3.000 A  Kbc Ifima Nv 29.08.16 2.9 104.58 1.42 100 Belgium Financial XS0453410978 10'571'918 50000 / 1000 AA- Aa2 EUR 4.250 A Westpac Banking Corp 22.09.16 2.8 109.14 1.18 74 Australia Financial FR0011121631 13'945'355 100000 A- A3 EUR 2.500 A Danone 29.09.16 2.9 104.97 0.85 41 France Consumer XS0548105559 11'850'980 50000 / 1000 A- EUR 4.125 A Heathrow Funding Ltd 12.10.16 2.8 108.42 1.33 89 United Kingdom Industrial XS0270800815 2'736'691 50000 / 1000 A- Baa1 EUR 4.375 A Morgan Stanley 12.10.16 2.8 108.02 1.70 125 USA Financial XS0550634355 4'880'839 50000 BBB+ A2 EUR 2.750 A Thales Sa 19.10.16 2.9 105.13 1.07 62 France Industrial XS0693854605 14'106'654 100000 / 1000 A+ A2 EUR 3.875 A Standard Chartered Plc 20.10.16 2.9 107.66 1.35 91 United Kingdom Financial XS0272770396 2'759'645 1000 AA+ A1 EUR 4.125 A Ge Capital Euro Funding 27.10.16 2.9 108.75 1.27 82 USA Industrial XS0273766732 2'769'791 50000 / 1000 A+ A2 EUR 4.125 A Wells Fargo & Company 03.11.16 2.9 109.13 1.16 71 USA Financial XS0557312922 11'978'418 50000 / 1000 A- A3 EUR 3.250 A Thames Water Util Cayman 09.11.16 3.0 106.49 1.16 70 United Kingdom Utilities XS0465601754 10'720'250 50000 / 1000 AA- Aa2 EUR 4.250 A Commonwealth Bank Aust 10.11.16 2.9 109.59 1.16 70 Australia Financial FR0010398115 2'794'435 1000 AAA Aaa EUR 3.875 A Caisse Francaise De Fin 24.11.16 3.0 109.09 0.99 52 France Financial XS0470370932 10'774'337 50000 / 1000 AA- Aa3 EUR 3.750 A Hsbc Bank Plc 30.11.16 3.0 108.01 1.21 73 United Kingdom Financial FR0011156017 14'367'687 100000 A EUR 3.000 A Groupe Auchan Sa 02.12.16 3.0 106.10 1.07 59 France Consumer

XS0635040685 13'138'009 1000 AA- Aa2 EUR 3.750 A National Australia Bank 06.01.17 3.1 108.11 1.25 75 Australia Financial FR0010989111 12'273'932 100000 BBB- Baa3u EUR 5.000 A Autoroutes Paris-Rhin-Rh 12.01.17 3.0 110.77 1.67 116 France Consumer XS0731153291 14'710'522 1000 A+ A2 EUR 4.250 A Ing Bank Nv 13.01.17 3.1 109.05 1.46 96 Netherlands Financial XS0282445336 2'870'624 1000 AA- Aa2 EUR 4.250 A Rabobank Nederland 16.01.17 3.1 109.62 1.31 80 Netherlands Financial XS0478931354 10'909'808 1000 A A2 EUR 3.875 A Bmw Finance Nv 18.01.17 3.1 108.77 1.20 69 Germany Automaker XS0480133338 10'920'631 50000 / 1000 A A3 EUR 4.875 A Royal Bk Of Scotland Plc 20.01.17 3.1 110.61 1.62 110 United Kingdom Financial XS0479945353 10'917'404 50000 / 1000 A A2 EUR 4.000 A Barclays Bank Plc 20.01.17 3.1 108.93 1.28 77 United Kingdom Financial FR0011181130 14'714'455 100000 A EUR 4.500 A Credit Mutuel Arkea 23.01.17 3.1 110.19 1.39 88 France Financial XS0736300293 14'805'247 100000 / 1000 A- EUR 4.375 A Heathrow Funding Ltd 25.01.17 3.1 109.67 1.43 91 United Kingdom Industrial XS0740795041 14'868'134 100000 / 1000 A A2 EUR 4.625 A Lloyds Tsb Bank Plc 02.02.17 3.1 110.99 1.31 79 United Kingdom Financial XS0749822556 18'026'834 1000 A+ A2 EUR 3.000 A Bnp Paribas 24.02.17 3.3 105.34 1.41 87 France Financial FR0010859686 11'046'589 50000 A- EUR 4.250 A Legrand Sa 24.02.17 3.2 109.49 1.43 89 France Industrial XS0751166835 18'049'290 100000 / 1000 A- Baa1 EUR 3.875 A Danske Bank A/S 28.02.17 3.2 107.84 1.54 100 Denmark Financial XS0491042353 11'066'976 1000 AA+ A1 EUR 4.250 A Ge Capital Euro Funding 01.03.17 3.2 109.66 1.39 85 USA Financial XS0289507997 2'959'341 50000 / 1000 A- A3 EUR 4.750 A Teliasonera Ab 07.03.17 3.2 112.24 1.16 61 Sweden TMT XS0491922828 11'078'683 50000 / 1000 AA- Aa3 EUR 4.000 A Bnz International Fndng 08.03.17 3.2 108.45 1.51 96 Australia Financial XS0756457833 18'133'983 1000 NR A3 EUR 2.125 A Man Se 13.03.17 3.4 103.23 1.18 63 Germany Industrial XS0494870701 11'117'699 50000 / 1000 AA- Aa3 EUR 3.875 A Westpac Securities Nz Lt 20.03.17 3.3 108.35 1.43 88 Australia Financial BE6243181672 19'592'225 1000 A A3 EUR 1.250 A Anheuser-Busch Inbev Nv 24.03.17 3.4 100.75 1.03 47 Belgium Consumer XS0764303490 18'237'935 100000 / 1000 A- A3 EUR 4.500 A Kbc Ifima Nv 27.03.17 3.3 109.71 1.66 110 Belgium Financial XS0762421195 18'216'165 100000 / 1000 A2 EUR 3.500 A Sparebank 1 Sr Bank 27.03.17 3.3 106.44 1.62 106 Norway Financial XS0730498143 14'690'854 100000 / 1000 A+ A1 EUR 3.875 A Skandinaviska Enskilda 12.04.17 3.4 109.11 1.27 70 Sweden Financial XS0297699588 3'066'963 1000 A A3 EUR 4.750 A Linde Finance Bv 24.04.17 3.4 113.04 1.07 49 Germany Basic Materials DE000A1MA9V5 18'083'470 1000 A- A3 EUR 2.000 A Daimler Ag 05.05.17 3.5 102.85 1.20 61 Germany Automaker XS0782708456 18'581'020 1000 A- A3 EUR 1.875 A Volkswagen Intl Fin Nv 15.05.17 3.5 102.20 1.26 67 Germany Automaker XS0301945860 3'112'883 50000 AA Aa1 EUR 4.625 A Shell International Fin 22.05.17 3.4 113.00 1.03 43 Netherlands Energy XS0302816672 3'127'633 50000 A A2 EUR 4.875 A Cargill Inc 29.05.17 3.4 113.52 1.15 54 USA Consumer XS0433001137 10'250'773 50000 AA- EUR 5.125 A Robert Bosch Gmbh 12.06.17 3.5 115.16 1.00 39 Germany Industrial XS0850006593 19'902'935 100000 / 1000 A EUR 1.625 A Unibail-Rodamco Se 26.06.17 3.7 100.48 1.49 87 France REITS XS0803117612 18'978'172 100000 A A2 EUR 2.750 A Raiffeisen Bank Intl 10.07.17 3.6 104.01 1.66 103 Austria Financial XS0732016596 14'730'410 100000 / 1000 AA- Aa3 EUR 3.375 A Svenska Handelsbanken Ab 17.07.17 3.6 107.35 1.41 77 Sweden Financial XS0805452405 19'034'218 100000 / 1000 A- A3 EUR 3.000 A Aegon Nv 18.07.17 3.6 105.51 1.52 88 Netherlands Financial FR0011289222 19'027'328 1000 A A1 EUR 1.500 A Gdf Suez 20.07.17 3.7 101.15 1.19 55 France Utilities

FR0010921544 11'520'847 50000 A A2 EUR 3.750 A Bpce Sa 21.07.17 3.6 108.11 1.57 93 France Financial XS0540216669 11'722'589 50000 / 1000 AA- Aa3 EUR 3.000 A Pohjola Bank Plc 08.09.17 3.7 105.90 1.47 80 Finland Financial XS0321334442 3'405'159 50000 / 1000 A A1 EUR 5.125 A Credit Suisse London 18.09.17 3.6 114.33 1.44 76 Switzerland Financial XS0542607683 11'752'724 50000 A2 EUR 3.125 A Societe Generale 21.09.17 3.7 105.82 1.62 94 France Financial XS0832446230 19'568'431 1000 A- Baa1 EUR 3.750 A Morgan Stanley 21.09.17 3.6 106.87 1.97 128 USA Financial FR0010532762 3'471'117 1000 AAA Aaa EUR 4.625 A Cie Financement Foncier 23.09.17 3.6 113.33 1.23 54 France Financial XS0544714750 11'787'435 100000 / 1000 BBB A3 EUR 3.125 A Coca-Cola Enterprises 29.09.17 3.7 106.80 1.39 70 USA Consumer XS0323657527 3'435'842 50000 / 1000 A- Baa1 EUR 5.500 A Morgan Stanley 02.10.17 3.5 113.49 2.02 132 USA Financial XS0801636571 18'962'913 100000 / 1000 AA- Aa3 EUR 2.250 A Nordea Bank Ab 05.10.17 3.8 103.36 1.40 70 Sweden Financial XS0546218925 11'827'514 50000 / 1000 A A2 EUR 3.625 A Abn Amro Bank Nv 06.10.17 3.7 107.47 1.72 102 Netherlands Financial XS0547796077 11'847'911 50000 / 1000 A A2 EUR 3.830 A Bp Capital Markets Plc 06.10.17 3.7 109.63 1.39 70 United Kingdom Energy XS0457145430 10'641'030 1000 AA Aa1 EUR 3.625 A Deutsche Bahn Finance Bv 16.10.17 3.8 109.69 1.19 49 Germany Transportation FR0010952739 11'876'866 1000 A A1 EUR 2.750 A Gdf Suez 18.10.17 3.8 106.01 1.24 54 France Utilities XS0849677348 19'895'072 100000 / 1000 A+ A2 EUR 1.750 A Standard Chartered Plc 29.10.17 3.9 100.19 1.70 99 United Kingdom Financial FR0010539734 3'529'506 1000 AAA Aaa EUR 4.500 A Caisse Francaise De Fin 13.11.17 3.8 113.00 1.29 56 France Financial FR0011355791 19'995'097 1000 AA A1 EUR 1.000 A Sanofi 14.11.17 4.0 99.31 1.17 44 France Consumer FR0010962134 12'006'326 50000 A EUR 2.875 A Groupe Auchan Sa 15.11.17 3.9 106.43 1.29 56 France Consumer XS0798334875 18'876'270 1000 A+ A2 EUR 2.875 A Bnp Paribas 27.11.17 3.9 105.03 1.63 89 France Financial FR0011361948 20'083'271 100000 A- A3 EUR 1.125 A Danone 27.11.17 4.1 99.73 1.19 45 France Consumer XS0561875450 12'039'045 100000 / 1000 A+ A2 EUR 3.750 A Motability Operations Gr 29.11.17 3.8 109.23 1.48 74 United Kingdom Industrial XS0860567477 20'120'822 100000 / 1000 A3 EUR 2.250 A Coventry Bldg Society 04.12.17 4.0 100.73 2.07 132 United Kingdom #N/A XS0718969271 14'490'994 100000 / 1000 A EUR 3.875 A Unibail-Rodamco Se 13.12.17 3.9 109.05 1.66 90 France REITS

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XS0944838241 21'630'096 100000 / 1000 A A3 EUR 2.125 A Rolls-Royce Plc 18.06.21 7.1 98.94 2.27 78 United Kingdom Industrial DE000A1TNJ97 21'673'781 1000 A- A3 EUR 2.000 A Daimler Ag 25.06.21 7.1 97.39 2.37 87 Germany Automaker XS0648186517 13'336'133 1000 AA+ Aaa EUR 3.625 A Oebb Infrastruktur Ag 13.07.21 6.9 111.47 2.03 52 Austria Transportation XS0670798171 13'702'175 1000 AAA Aaa EUR 2.875 A Landwirtsch. Rentenbank 30.08.21 7.1 107.52 1.85 32 Germany Financial XS0671138377 13'707'500 1000 AA+ Aaa EUR 2.875 A Council Of Europe 31.08.21 7.1 106.37 2.00 47 SNAT Sovereign-linked Entity EU000A1GVJX6 13'880'984 1000 AAA Aaa EUR 2.750 A European Union 21.09.21 7.0 105.69 1.98 43 SNAT Government XS0690406243 14'041'043 1000 A3 EUR 4.250 A Omv Ag 12.10.21 6.7 113.27 2.43 86 Austria Energy FR0011344076 19'780'118 100000 A EUR 2.125 A Air Liquide Finance 15.10.21 7.2 98.47 2.33 77 France Basic Materials XS0695263730 14'127'618 1000 AAA Aaa EUR 3.000 A Bk Nederlandse Gemeenten 25.10.21 7.0 106.17 2.16 59 Netherlands Financial XS0460357550 10'680'357 50000 / 1000 AA+ Aaa EUR 4.000 A Eurofima 27.10.21 6.8 113.11 2.22 65 SNAT Financial XS0704178556 14'257'587 100000 / 1000 A- A3 EUR 3.625 A Bat Intl Finance Plc 09.11.21 6.9 108.44 2.47 89 United Kingdom Consumer

XS0728812495 14'683'994 1000 AA- Aa2 EUR 4.000 A Rabobank Nederland 11.01.22 7.0 109.71 2.68 106 Netherlands Financial FR0011182641 14'740'499 100000 A+ Aa3 EUR 3.875 A Electricite De France 18.01.22 7.0 109.67 2.57 95 France Utilities XS0732513972 14'740'502 100000 / 1000 A+ A1 EUR 4.250 A Dnb Bank Asa 18.01.22 6.9 111.74 2.66 104 Norway Financial XS0479869744 10'916'885 50000 / 1000 A- A3 EUR 4.650 A Vodafone Group Plc 20.01.22 6.9 115.52 2.57 94 United Kingdom TMT FR0011193515 14'868'111 100000 BBB+ A3 EUR 4.500 A Bouygues Sa 09.02.22 6.9 111.23 2.97 133 France Industrial DE000A1G0RU9 14'963'994 100000 AA Aa3 EUR 3.500 A Allianz Finance Ii B.V. 14.02.22 7.2 108.10 2.43 79 Germany Financial FR0011140912 14'195'450 100000 A+ EUR 3.875 A Adp 15.02.22 7.1 111.56 2.35 71 France Industrial XS0748187902 18'004'077 100000 / 1000 A+ A2 EUR 4.500 A Ing Bank Nv 21.02.22 6.9 111.58 2.93 129 Netherlands Financial XS0680904827 13'899'642 100000 / 1000 A- A3 EUR 4.000 A Teliasonera Ab 22.03.22 7.2 111.17 2.53 86 Sweden TMT XS0765299572 18'252'577 1000 A A2 EUR 4.125 A Abn Amro Bank Nv 28.03.22 7.1 109.33 2.88 121 Netherlands Financial FR0011234921 18'391'936 100000 A- EUR 3.375 A Legrand Sa 19.04.22 7.4 105.89 2.60 92 France Industrial AT0000A0N9A0 12'324'115 1000 AA+ Aaa EUR 3.650 A Republic Of Austria 20.04.22 7.4 112.35 2.07 39 Austria Government XS0706229555 14'304'654 100000 / 1000 A A2 EUR 3.750 A Telstra Corp Ltd 16.05.22 7.4 109.30 2.54 84 Australia TMT XS0798504030 18'877'329 100000 / 1000 A+ A1 EUR 3.375 A Willow No.2 For Zurich I 27.06.22 7.5 103.40 2.93 121 Switzerland Financial XS0801636902 18'962'986 100000 / 1000 AA- Aa3 EUR 3.250 A Nordea Bank Ab 05.07.22 7.6 104.87 2.62 89 Sweden Financial XS0802756683 18'972'289 100000 A A2 EUR 4.250 A Societe Generale 13.07.22 7.4 110.32 2.91 118 France Financial XS0804217536 19'000'285 100000 / 1000 AA- A2 EUR 2.625 A Nederlandse Gasunie N.V. 13.07.22 7.8 100.99 2.50 76 Netherlands Energy FR0011289230 19'027'336 1000 A A1 EUR 2.625 A Gdf Suez 20.07.22 7.8 101.00 2.50 76 France Utilities XS0810622935 19'127'895 100000 / 1000 A- A3 EUR 2.750 A Wesfarmers Ltd 02.08.22 7.8 99.66 2.79 105 Australia Consumer XS0813400305 19'182'641 1000 AA- Aa2 EUR 2.750 A National Australia Bank 08.08.22 7.8 99.74 2.78 103 Australia Financial XS0817639924 19'258'345 100000 / 1000 A+ A2 EUR 2.625 A Wells Fargo & Company 16.08.22 7.9 99.76 2.65 90 USA Financial XS0819130302 19'289'603 100000 A Aa3 EUR 3.250 A Banque Fed Cred Mutuel 23.08.22 7.7 102.00 2.99 123 France Financial XS0819759571 19'307'446 100000 / 1000 Aa3 EUR 2.625 A Svenska Handelsbanken Ab 23.08.22 7.9 99.97 2.63 87 Sweden Financial XS0820547825 19'316'458 100000 / 1000 A A2 EUR 2.750 A Jpmorgan Chase & Co 24.08.22 7.9 100.49 2.69 93 USA Financial XS0823975585 19'380'676 100000 A- A3 EUR 2.375 A Volkswagen Leasing Gmbh 06.09.22 7.8 98.24 2.60 83 Germany Automaker XS0826531120 19'423'449 1000 Aa2 EUR 1.750 A Nestle Finance Intl Ltd 12.09.22 8.1 96.21 2.22 45 Switzerland Consumer XS0541453147 11'736'775 50000 A3 EUR 3.375 A Orange Sa 16.09.22 7.5 103.72 2.90 113 France TMT XS0541787783 11'743'591 1000 AA- Aa1 EUR 3.125 A Total Capital Sa 16.09.22 7.6 105.88 2.39 62 France Energy XS0760187400 18'192'255 100000 / 1000 A A2 EUR 3.500 A Telstra Corp Ltd 21.09.22 7.5 106.94 2.63 85 Australia TMT FR0010952770 11'876'878 1000 A A1 EUR 3.500 A Gdf Suez 18.10.22 7.6 108.10 2.49 70 France Utilities XS0847433561 19'859'572 1000 A+ A2 EUR 2.875 A Bnp Paribas 24.10.22 7.7 99.57 2.93 113 France Financial XS0858366684 20'083'990 100000 / 1000 A- Baa1 EUR 2.500 A Statkraft As 28.11.22 8.0 98.52 2.68 87 Norway Utilities DE000A1R0XG3 20'119'995 1000 A+ A1 EUR 2.000 A Basf Se 05.12.22 8.2 96.88 2.38 56 Germany Basic Materials FR0011372622 20'195'527 100000 A EUR 2.375 A Groupe Auchan Sa 12.12.22 8.1 98.52 2.56 73 France Consumer

DE000DB5DCS4 20'411'646 100000 A A2 EUR 2.375 A Deutsche Bank Ag 11.01.23 8.1 97.91 2.63 79 Germany Financial XS0873665706 20'414'183 100000 / 1000 AA- Aa3 EUR 2.375 A Met Life Glob Funding I 11.01.23 8.1 96.81 2.77 93 USA Financial

FR0011332196 19'594'096 100000 BBB+ A3 EUR 3.625 A Bouygues Sa 16.01.23 7.6 103.34 3.20 136 France Industrial XS0856014583 20'027'766 100000 / 1000 A- A3 EUR 2.375 A Bat Holdings Bv 19.01.23 8.1 97.24 2.71 87 United Kingdom Consumer FR0011261924 18'666'787 1000 A A1 EUR 3.000 A Gdf Suez 01.02.23 8.0 103.30 2.60 75 France Utilities XS0883614231 20'579'017 100000 / 1000 A A2 EUR 2.750 A Jpmorgan Chase & Co 01.02.23 8.1 99.65 2.79 94 USA Financial DE000TLX2003 20'671'914 100000 A- EUR 3.125 A Talanx Ag 13.02.23 8.0 101.78 2.90 105 Germany Financial XS0593606121 12'507'363 100000 / 1000 A- A3 EUR 4.625 A Tennet Holding Bv 21.02.23 7.6 115.10 2.79 92 Netherlands Utilities XS0827999318 19'440'576 100000 BBB+ A3 EUR 2.500 A Orange Sa 01.03.23 8.2 95.70 3.03 116 France TMT DE000A1R0691 20'839'831 1000 A- A3 EUR 2.375 A Daimler Ag 08.03.23 8.3 97.48 2.68 81 Germany Automaker FR0011462571 21'052'743 100000 A EUR 2.250 A Groupe Auchan Sa 06.04.23 8.4 96.46 2.67 78 France Consumer XS0617251995 12'861'305 100000 A A2 EUR 5.125 A Credit Agricole London 18.04.23 7.6 116.77 3.08 119 France Financial XS0625859516 12'984'862 100000 / 1000 AA- A1 EUR 4.500 A Investor Ab 12.05.23 7.9 114.83 2.73 83 Sweden Financial XS0942388462 21'576'057 100000 / 1000 A EUR 2.500 A Unibail-Rodamco Se 12.06.23 8.5 96.53 2.91 100 France REITS FR0011527241 21'723'363 100000 A- A3 EUR 2.600 A Danone 28.06.23 8.5 100.12 2.59 66 France Consumer XS0903136736 20'895'740 100000 / 1000 A A2 EUR 2.500 A Telstra Corp Ltd 15.09.23 8.6 97.09 2.84 90 Australia TMT FR0011119783 13'922'903 100000 Aa1 EUR 3.125 A Bpifrance 26.09.23 8.3 103.82 2.69 74 France Sovereign-linked Entity XS0895249620 20'761'726 1000 A+ A2 EUR 2.875 A Bnp Paribas 26.09.23 8.5 98.57 3.04 110 France Financial

XS0746010908 14'961'333 100000 / 1000 A- A3 EUR 3.625 A Teliasonera Ab 14.02.24 8.5 107.60 2.78 80 Sweden TMT XS0753143709 18'082'399 1000 AA Aa1 EUR 3.000 A Deutsche Bahn Finance Bv 08.03.24 8.8 104.06 2.55 57 Germany Transportation XS0787786440 18'681'690 100000 / 1000 A+ A1 EUR 3.000 A Bhp Billiton Finance Ltd 29.05.24 9.0 101.22 2.86 86 Australia Basic Materials XS0787527349 18'665'177 100000 / 1000 A A2 EUR 2.875 A Philip Morris Intl Inc 30.05.24 9.1 99.69 2.91 90 USA Consumer XS0792977984 18'786'975 100000 / 1000 AA- Aa3 EUR 2.875 A Alliander Nv 14.06.24 9.1 100.70 2.80 79 Netherlands Utilities BE6243179650 19'590'545 1000 A A3 EUR 2.875 A Anheuser-Busch Inbev Nv 25.09.24 9.1 100.25 2.85 81 Belgium Consumer FR0011360478 20'051'758 100000 A EUR 2.750 A La Poste 26.11.24 9.3 98.61 2.90 84 France Transportation XS0863127279 20'185'551 100000 / 1000 A- A3 EUR 2.875 A Rio Tinto Finance Plc 11.12.24 9.3 97.34 3.16 110 United Kingdom Basic Materials

XS0942082115 21'565'670 100000 / 1000 A- EUR 2.875 A P Vier Gas Transport Gmbh 12.06.25 9.8 98.48 3.03 93 Germany Energy XS0951216166 21'798'219 100000 / 1000 A+ A1 EUR 3.125 A Oracle Corp 10.07.25 9.7 100.80 3.04 93 USA Industrial FR0010975730 12'121'598 50000 AA+ WR EUR 3.875 A Ville De Paris 29.12.25 9.6 107.44 3.14 98 France Sovereign-linked Entity

XS0617307375 12'864'025 100000 AA Aa2 EUR 4.375 A Soc Natl Chemins Fer Fra 15.04.26 9.7 113.76 3.04 86 France Transportation EU000A1GVVF8 13'953'983 1000 AAA Aaa EUR 3.000 A European Union 04.09.26 10.7 104.40 2.60 38 SNAT Government

XS0834385923 19'616'559 100000 / 1000 A+ A1 EUR 3.250 A Bhp Billiton Finance Ltd 24.09.27 10.8 100.32 3.22 91 Australia Basic Materials

DE000A1UDWN5 20'839'841 1000 A+ Aa3 EUR 2.875 A Siemens Financieringsmat 10.03.28 11.5 97.85 3.06 70 Germany Industrial BE0002432079 21'044'566 100000 A- EUR 3.250 A Elia System Op Sa/Nv 04.04.28 11.3 98.95 3.34 98 Belgium Utilities

EU000A1G1Q17 18'083'520 1000 Aaa EUR 3.375 A European Union 04.04.32 13.7 106.80 2.90 36 SNAT Government

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US05252BBJ70 12'277'524 100000 / 1000 AA- Aa2 USD 2.125 S Aust & Nz Banking Group 10.01.14 0.3 100.64 0.28 25 Australia Financial US21685WBS52 12'260'213 1000 AA- Aa2 USD 1.850 S Rabobank Nederland 10.01.14 0.3 100.57 0.22 18 Netherlands Financial XS0576906316 12'287'957 100000 / 1000 AAA Aa1 USD 1.500 S Network Rail Infra Fin 13.01.14 0.4 100.49 0.13 10 United Kingdom Transportation USF8586CAL66 12'152'642 100000 / 1000 A A2 USD 2.500 S Societe Generale 15.01.14 0.4 100.90 0.02 -1 France Financial US026874BV83 12'104'817 2000 / 1000 A- Baa1 USD 3.650 S American Intl Group 15.01.14 0.4 101.02 0.81 77 USA Financial XS0579362319 12'301'071 1000 AA- Aa1 USD 1.625 A Nrw.Bank 17.01.14 0.4 100.51 0.23 19 Germany Financial US22532MAD48 12'336'027 200000 / 1000 A A2 USD 2.625 S Credit Agricole London 21.01.14 0.4 100.93 0.16 12 France Financial USF2893TAA46 4'996'704 2000 / 1000 A+ Aa3 USD 5.500 S Electricite De France 26.01.14 0.4 102.16 -0.02 -6 France Utilities US68323AAE47 12'384'215 5000 / 1000 AA- Aa2 USD 1.375 S Ontario (Province Of) 27.01.14 0.4 100.52 0.06 2 Canada Sovereign-linked Entity US89153UAB70 12'390'122 1000 AA- Aa1 USD 1.625 S Total Capital Canada Ltd 28.01.14 0.4 100.55 0.24 20 France Energy XS0588430081 12'428'071 200000 / 1000 A A2 USD 3.000 S Abn Amro Bank Nv 31.01.14 0.4 101.00 0.52 48 Netherlands Financial US20825CAS35 1'796'884 2000 / 1000 A A1 USD 4.750 S Conocophillips 01.02.14 0.4 101.71 0.52 48 USA Energy XS0494562639 11'112'442 2000 AA+ A1 USD 3.125 A General Elec Cap Corp 12.03.14 0.5 101.46 0.30 25 USA Financial US718172AG43 4'832'525 2000 / 1000 A A2 USD 6.875 S Philip Morris Intl Inc 17.03.14 0.5 103.50 0.31 25 USA Consumer USU2339CAG34 12'742'762 150000 / 1000 A- A3 USD 1.950 S Daimler Finance Na Llc 28.03.14 0.6 100.74 0.63 57 Germany Automaker US9612E1CD51 12'783'712 100000 / 1000 AA- Aa2 USD 1.006 Q Westpac Banking Corp 31.03.14 0.1 100.36 0.38 Australia Financial US6325C1BL25 12'844'631 100000 / 1000 AA- Aa2 USD 2.250 S National Australia Bank 11.04.14 0.6 101.09 0.43 36 Australia Financial US002799AK07 12'916'109 1000 A A2 USD 2.875 S Abbey Natl Treasury Serv 25.04.14 0.6 101.49 0.54 47 Spain Financial US06366QGJ04 12'938'512 2000 / 1000 A+ Aa3 USD 1.750 S Bank Of Montreal 29.04.14 0.6 100.88 0.40 32 Canada Financial US22546QAA58 10'158'233 100000 / 1000 A A1 USD 5.500 S Credit Suisse New York 01.05.14 0.6 103.38 0.33 26 Switzerland Financial US19416QDT40 12'954'957 1000 AA- Aa3 USD 1.250 S Colgate-Palmolive Co 01.05.14 0.7 100.71 0.17 10 USA Consumer US74977SBQ49 10'175'440 100000 / 1000 AA- Aa2 USD 4.200 S Rabobank Nederland 13.05.14 0.7 102.66 0.33 25 Netherlands Financial US149123BU42 13'091'864 2000 / 1000 A A2 USD 1.375 S Caterpillar Inc 27.05.14 0.7 100.74 0.36 28 USA Industrial USN4578BPY49 13'138'249 200000 / 1000 A+ A2 USD 2.375 S Ing Bank Nv 09.06.14 0.8 101.43 0.50 41 Netherlands Financial US92857WAT71 10'251'125 1000 A- A3 USD 4.150 S Vodafone Group Plc 10.06.14 0.8 102.75 0.54 45 United Kingdom TMT FR0010775239 10'301'901 1000 NR Aa1 USD 3.500 A Caisse D'Amort Dette Soc 01.07.14 0.8 102.61 0.32 23 France Sovereign-linked Entity US06739FFZ99 10'344'935 100000 / 1000 A A2 USD 5.200 S Barclays Bank Plc 10.07.14 0.8 104.06 0.39 29 United Kingdom Financial US03523TBL17 13'350'560 1000 A A3 USD 1.500 S Anheuser-Busch Inbev Wor 14.07.14 0.9 101.16 0.14 4 Belgium Consumer US89114QAA67 13'350'554 2000 / 1000 AA- Aa1 USD 1.375 S Toronto-Dominion Bank 14.07.14 0.9 100.91 0.31 21 Canada Financial USJ7771KNW38 13'404'539 200000 / 1000 A+ Aa3 USD 1.900 S Sumitomo Mitsui Banking 22.07.14 0.9 101.25 0.48 38 Japan Financial US78010KCV98 10'479'510 100000 / 1000 A A3 USD 4.875 S Royal Bk Of Scotland Plc 25.08.14 1.0 103.33 1.42 130 United Kingdom Financial US0258M0CZ01 10'487'647 2000 / 1000 A- A2 USD 5.125 S Amer Express Credit Co 25.08.14 1.0 104.53 0.45 34 USA Financial US713448BV91 13'692'750 2000 / 1000 A- A1 USD 0.800 S Pepsico Inc 25.08.14 1.0 100.51 0.27 16 USA Consumer XS0670236768 13'704'086 1000 AAA Aaa USD 0.750 A Kommunekredit 02.09.14 1.0 100.47 0.27 15 Denmark Sovereign-linked Entity US36962GK864 1'953'053 1000 AA+ A1 USD 4.750 S General Elec Cap Corp 15.09.14 1.0 104.43 0.43 29 USA Industrial XS0543243678 11'761'184 2000 AA- Aa2 USD 2.125 A Aust & Nz Banking Group 19.09.14 1.0 101.67 0.51 38 Australia Financial XS0453470527 10'572'830 100000 / 1000 AA+ Aa1 USD 2.875 S Sfef 22.09.14 1.0 102.73 0.26 13 France Sovereign-linked Entity US801060AA22 13'984'885 2000 / 1000 AA A1 USD 1.200 S Sanofi 30.09.14 1.1 100.92 0.34 20 France Consumer US85771SAC08 10'645'754 1000 AA- Aa2 USD 2.900 S Statoil Asa 15.10.14 1.1 102.86 0.32 17 Norway Energy US78008TXA77 14'195'343 1000 AA- Aa3 USD 1.450 S Royal Bank Of Canada 30.10.14 1.1 101.17 0.43 27 Canada Financial USQ2594WBW84 10'700'877 2000 / 1000 A- A3 USD 3.250 S Coca-Cola Amatil Ltd 02.11.14 1.1 102.77 0.84 67 Australia Consumer XS0465484938 10'719'865 2000 A A3 USD 3.625 A Linde Finance Bv 13.11.14 1.1 103.53 0.63 45 Germany Basic Materials US36962G4G62 10'736'887 1000 AA+ A1 USD 3.750 S General Elec Cap Corp 14.11.14 1.2 103.78 0.56 38 USA Financial US03523TBG22 12'507'227 2000 / 1000 A A3 USD 5.375 S Anheuser-Busch Inbev Wor 15.11.14 1.2 105.83 0.48 30 Belgium Consumer US055451AJ72 14'345'145 2000 / 1000 A+ A1 USD 1.125 S Bhp Billiton Fin Usa Ltd 21.11.14 1.2 100.73 0.52 34 Australia Basic Materials US98956PAD42 14'287'352 2000 / 1000 A- Baa1 USD 1.400 S Zimmer Holdings Inc 30.11.14 1.2 100.60 0.91 72 USA Consumer USC2428PAM35 14'488'599 200000 / 1000 AAA Aaa USD 1.500 S Canadian Imperial Bank 12.12.14 1.3 101.42 0.38 18 Canada Financial

US36962G5M22 14'678'238 1000 AA+ A1 USD 2.150 S General Elec Cap Corp 09.01.15 1.3 102.07 0.60 38 USA Financial USJ7771KPG69 14'695'359 200000 / 1000 A+ Aa3 USD 1.900 S Sumitomo Mitsui Banking 12.01.15 1.3 101.25 0.96 74 Japan Financial US53947PAA75 10'887'748 100000 / 1000 A A2 USD 4.375 S Lloyds Tsb Bank Plc 12.01.15 1.3 104.33 1.14 92 United Kingdom Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US25244SAF83 10'717'659 1000 A- A3 USD 3.250 S Diageo Finance Bv 15.01.15 1.3 103.51 0.66 43 United Kingdom Consumer US263534BY40 10'720'867 2000 / 1000 A A2 USD 3.250 S E.I. Du Pont De Nemours 15.01.15 1.3 103.95 0.34 11 USA Basic Materials US064149A641 10'941'487 2000 / 1000 A+ Aa2 USD 3.400 S Bank Of Nova Scotia 22.01.15 1.4 104.01 0.48 25 Canada Financial US61747YCL74 10'953'830 100000 / 1000 A- Baa1 USD 4.100 S Morgan Stanley 26.01.15 1.4 103.95 1.22 99 USA Financial US6832348H42 10'982'486 5000 / 1000 AA- Aa2 USD 2.950 S Ontario (Province Of) 05.02.15 1.4 103.52 0.45 21 Canada Sovereign-linked Entity US055451AN84 18'053'369 2000 / 1000 A+ A1 USD 1.000 S Bhp Billiton Fin Usa Ltd 24.02.15 1.5 100.70 0.52 26 Australia Basic Materials US02666RAV33 14'916'000 200000 / 1000 A+ A1 USD 1.450 S American Honda Finance 27.02.15 1.5 101.05 0.73 48 Japan Financial US6325C1BB43 11'068'841 100000 / 1000 AA- Aa2 USD 3.750 S National Australia Bank 02.03.15 1.5 104.56 0.67 41 Australia Financial US172967FY29 18'059'072 1000 A- Baa2 USD 2.650 S Citigroup Inc 02.03.15 1.5 103.14 0.54 28 USA Financial US63254AAA60 18'112'340 250000 / 1000 AA- Aa2 USD 2.000 S National Australia Bk Lt 09.03.15 1.5 102.20 0.54 27 Australia Financial US74977SCE00 11'106'420 100000 / 1000 AA- Aa2 USD 3.200 S Rabobank Nederland 11.03.15 1.5 103.57 0.83 56 Netherlands Financial US02666RAL50 11'118'316 150000 / 1000 A+ A1 USD 3.500 S American Honda Finance 16.03.15 1.5 104.19 0.74 47 Japan Financial US78010XAC56 11'119'089 100000 / 1000 A A3 USD 4.875 S Royal Bk Of Scotland Plc 16.03.15 1.5 105.63 1.16 89 United Kingdom Financial US65557HAC60 18'193'867 200000 / 1000 AA- Aa3 USD 2.250 S Nordea Bank Ab 20.03.15 1.5 102.21 0.80 53 Sweden Financial US76720AAA43 18'233'774 2000 / 1000 A- A3 USD 1.125 S Rio Tinto Fin Usa Plc 20.03.15 1.5 100.20 0.99 72 United Kingdom Basic Materials XS0763676045 18'231'569 100000 / 1000 A- A3 USD 1.625 S Volkswagen Intl Fin Nv 22.03.15 1.5 101.27 0.80 52 Germany Automaker USU2339CAW83 18'344'542 150000 / 1000 A- A3 USD 1.650 S Daimler Finance Na Llc 10.04.15 1.6 101.13 0.94 65 Germany Automaker US22532MAC64 11'208'378 100000 / 1000 A A2 USD 3.500 S Credit Agricole London 13.04.15 1.5 104.19 0.87 58 France Financial USU03597AM00 11'171'045 2000 / 1000 A A3 USD 3.625 S Anheuser-Busch Inbev Wor 15.04.15 1.6 104.22 0.98 69 Belgium Consumer US45950KBF66 11'222'735 1000 Aaa USD 2.750 S Intl Finance Corp 20.04.15 1.6 103.89 0.34 5 SNAT Sovereign-linked Entity XS0505252956 11'249'342 100000 / 1000 A+ A2 USD 3.850 S Standard Chartered Plc 27.04.15 1.6 104.43 1.12 82 United Kingdom Financial XS0506368363 11'271'040 100000 / 2000 AAA Aaa USD 2.750 S Kommunalbanken As 05.05.15 1.6 103.75 0.49 18 Norway Sovereign-linked Entity US172967FD81 11'323'360 1000 A- Baa2 USD 4.750 S Citigroup Inc 19.05.15 1.6 106.52 0.89 57 USA Financial XS0512291856 11'340'985 1000 AAA Aaa USD 2.750 A L-Bank Bw Foerderbank 26.05.15 1.7 103.81 0.52 20 Germany Financial US58013MEP59 18'679'482 1000 A A2 USD 0.750 S Mcdonald'S Corp 29.05.15 1.7 100.31 0.57 25 USA Consumer US913017BX62 18'687'023 2000 / 1000 A A2 USD 0.760 Q United Technologies Corp 01.06.15 0.2 100.65 0.39 USA Industrial US1107098W54 11'244'942 5000 / 1000 AAA Aaa USD 2.850 S British Columbia Prov Of 15.06.15 1.7 104.31 0.41 7 Canada Sovereign-linked Entity US89233P4B94 11'438'389 2000 / 1000 AA- Aa3 USD 3.200 S Toyota Motor Credit Corp 17.06.15 1.7 104.61 0.60 26 Japan Financial XS0795938348 18'865'326 200000 / 1000 A- USD 2.500 S Heathrow Funding Ltd 25.06.15 1.8 100.93 1.97 162 United Kingdom Industrial USG4637EFT76 11'462'751 100000 / 1000 AA- Aa3 USD 3.500 S Hsbc Bank Plc 28.06.15 1.8 104.56 0.96 61 United Kingdom Financial US36962G4L57 11'461'731 1000 AA+ A1 USD 3.500 S General Elec Cap Corp 29.06.15 1.8 104.74 0.87 52 USA Financial US865622AU81 19'026'422 250000 / 1000 A+ Aa3 USD 1.350 S Sumitomo Mitsui Banking 18.07.15 1.8 101.01 0.81 44 Japan Financial USJ7771KMX20 11'541'593 100000 / 1000 A+ Aa3 USD 3.150 S Sumitomo Mitsui Banking 22.07.15 1.8 104.15 0.92 55 Japan Financial US6174467N38 11'565'460 100000 / 1000 A- Baa1 USD 4.000 S Morgan Stanley 24.07.15 1.8 104.76 1.43 106 USA Financial US55608RAB69 19'095'923 2000 / 1000 A A2 USD 3.450 S Macquarie Bank Ltd 27.07.15 1.8 103.74 1.44 107 Australia Financial USU2339CAY40 19'141'373 150000 / 1000 A- A3 USD 1.300 S Daimler Finance Na Llc 31.07.15 1.9 100.59 0.99 61 Germany Automaker US63254AAC27 19'152'758 250000 / 1000 AA- Aa2 USD 1.600 S National Australia Bk Lt 07.08.15 1.9 101.90 0.60 22 Australia Financial US00182FAJ57 11'604'656 100000 / 1000 AA- Aa3 USD 3.125 S Anz New Zealand Intl/Ldn 10.08.15 1.9 103.95 1.05 67 Australia Financial USN45799AA63 11'657'620 100000 / 1000 A+ A2 USD 3.000 S Ing Bank Nv 01.09.15 1.9 102.70 1.61 122 Netherlands Financial XS0670227858 13'704'621 1000 AAA Aaa USD 0.750 A Asian Development Bank 01.09.15 2.0 100.63 0.43 3 SNAT Sovereign-linked Entity US06051GED79 11'656'555 5000 A- Baa2 USD 3.700 S Bank Of America Corp 01.09.15 1.9 104.83 1.24 84 USA Financial US24422ERV38 19'433'477 1000 A A2 USD 0.700 S John Deere Capital Corp 04.09.15 2.0 100.20 0.60 20 USA Financial XS0540029807 11'716'382 1000 AAA Aaa USD 2.000 A Neder Waterschapsbank 09.09.15 1.9 102.71 0.64 23 Netherlands Financial USJ04237AB91 11'745'340 100000 / 1000 A+ Aa3 USD 2.450 S Bk Tokyo-Mitsubishi Ufj 11.09.15 1.9 103.11 0.89 48 Japan Financial US6832348Z40 11'744'143 5000 / 1000 AA- Aa2 USD 1.875 S Ontario (Province Of) 15.09.15 2.0 102.52 0.62 21 Canada Sovereign-linked Entity US35177PAU12 11'736'454 2000 / 1000 BBB+ A3 USD 2.125 S Orange Sa 16.09.15 2.0 101.64 1.31 89 France TMT XS0540225496 11'744'112 100000 / 1000 A+ A1 USD 2.750 S Mitsubishi Corp 16.09.15 2.0 103.28 1.11 69 Japan Consumer US780099CC94 19'505'665 1000 A- Baa1 USD 2.550 S Royal Bk Scotlnd Grp Plc 18.09.15 2.0 102.12 1.49 107 United Kingdom Financial US02666RAM34 11'760'948 150000 / 1000 A+ A1 USD 2.500 S American Honda Finance 21.09.15 2.0 103.28 0.88 45 Japan Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US78010XAG60 11'756'776 1000 A A3 USD 3.950 S Royal Bk Of Scotland Plc 21.09.15 1.9 104.90 1.51 109 United Kingdom Financial US36962G4F89 10'577'777 1000 AA+ A1 USD 4.375 S General Elec Cap Corp 21.09.15 1.9 106.94 0.94 52 USA Financial USQ98418AG37 11'760'937 2000 / 1000 A- A3 USD 2.550 S Woolworths Limited 22.09.15 2.0 103.13 1.00 58 Australia Consumer XS0543242431 11'761'538 100000 AA- Aa3 USD 1.875 S Jpn Bank For Int'L Coop 24.09.15 2.0 102.66 0.57 14 Japan Sovereign-linked Entity USN45780CR71 19'607'279 200000 / 1000 A+ A2 USD 2.000 S Ing Bank Nv 25.09.15 2.0 101.56 1.23 80 Netherlands Financial US6325C1BC26 11'783'706 100000 / 1000 AA- Aa2 USD 2.750 S National Australia Bank 28.09.15 2.0 104.18 0.70 28 Australia Financial US00182FAM86 19'152'751 200000 / 1000 AA- Aa3 USD 1.850 S Anz New Zealand Intl/Ldn 15.10.15 2.1 101.63 1.07 62 Australia Financial US91324PBX96 19'861'286 2000 / 1000 A A3 USD 0.850 S Unitedhealth Group Inc 15.10.15 2.1 100.24 0.74 29 USA Consumer US931142CX95 11'905'940 2000 / 1000 AA Aa2 USD 1.500 S Wal-Mart Stores Inc 25.10.15 2.1 102.08 0.52 6 USA Consumer US767201AJ59 11'959'223 2000 / 1000 A- A3 USD 1.875 S Rio Tinto Fin Usa Ltd 02.11.15 2.1 101.65 1.10 63 Australia Basic Materials US92857WAU45 10'753'545 1000 A- A3 USD 3.375 S Vodafone Group Plc 24.11.15 2.1 104.95 1.11 62 United Kingdom TMT US961214BP70 12'120'012 2000 / 1000 AA- Aa2 USD 3.000 S Westpac Banking Corp 09.12.15 2.2 105.05 0.74 23 Australia Financial US136069DS70 12'135'980 2000 / 1000 A+ Aa3 USD 2.350 S Canadian Imperial Bank 11.12.15 2.2 103.38 0.84 33 Canada Financial US084664BN03 12'144'659 2000 / 1000 AA Aa2 USD 2.450 S Berkshire Hathaway Fin 15.12.15 2.2 103.80 0.77 25 USA Financial US172967FH95 12'112'223 1000 A- Baa2 USD 4.587 S Citigroup Inc 15.12.15 2.2 107.33 1.31 79 USA Financial

US36962G6R00 20'384'169 1000 AA+ A1 USD 1.000 S General Elec Cap Corp 08.01.16 2.3 99.69 1.13 59 USA Financial US89233P4R47 12'274'843 2000 / 1000 AA- Aa3 USD 2.800 S Toyota Motor Credit Corp 11.01.16 2.3 104.48 0.87 33 Japan Financial XS0576210289 12'263'069 2000 AAA Aaa USD 2.500 S Bk Nederlandse Gemeenten 11.01.16 2.3 103.81 0.86 31 Netherlands Financial US06051GES49 20'423'874 2000 / 1000 A- Baa2 USD 1.250 S Bank Of America Corp 11.01.16 2.3 99.83 1.32 78 USA Financial USJ7771KNJ27 12'284'196 200000 / 1000 A+ Aa3 USD 3.100 S Sumitomo Mitsui Banking 14.01.16 2.3 104.15 1.31 76 Japan Financial USF8586CAM40 12'150'218 100000 / 1000 A A2 USD 3.500 S Societe Generale 15.01.16 2.3 104.77 1.44 89 France Financial USF8176MAB21 12'275'988 2000 / 1000 A+ A1 USD 2.650 S Schlumberger Sa 15.01.16 2.3 103.45 1.16 62 USA Energy US58933YAB11 12'144'702 2000 / 1000 AA A2 USD 2.250 S Merck & Co Inc 15.01.16 2.3 103.24 0.86 31 USA Consumer XS0580358660 12'335'602 100000 AA- Aa3 USD 2.500 S Japan Finance Corp 21.01.16 2.3 104.10 0.76 20 Japan Sovereign-linked Entity US539473AG31 12'335'857 1000 A A2 USD 4.875 S Lloyds Tsb Bank Plc 21.01.16 2.3 108.14 1.38 83 United Kingdom Financial US748356AA02 12'144'692 2000 / 1000 A- A3 USD 2.750 S Questar Corp 01.02.16 2.3 103.03 1.46 89 USA Energy US594918AK09 12'457'264 2000 / 1000 AAA Aaa USD 2.500 S Microsoft Corp 08.02.16 2.4 104.40 0.67 10 USA TMT US904764AL12 12'471'552 100000 / 1000 A+ A1 USD 2.750 S Unilever Capital Corp 10.02.16 2.4 104.43 0.90 33 Netherlands Consumer US03523TBA51 12'396'747 1000 A A3 USD 2.875 S Anheuser-Busch Inbev Wor 15.02.16 2.4 104.68 0.94 35 Belgium Consumer US500769EG57 12'484'397 1000 AAA Aaa USD 2.625 S Kfw 16.02.16 2.4 104.60 0.73 14 Germany Financial US92857WBA71 20'696'569 1000 A- A3 USD 0.900 S Vodafone Group Plc 19.02.16 2.4 98.83 1.39 80 United Kingdom TMT US05567LU545 12'535'201 1000 A+ A2 USD 3.600 S Bnp Paribas 23.02.16 2.4 105.46 1.34 75 France Financial US61746BDG86 20'776'763 1000 A- Baa1 USD 1.750 S Morgan Stanley 25.02.16 2.4 100.20 1.67 108 USA Financial USJ0423YBC78 20'761'889 200000 / 1000 A+ Aa3 USD 1.000 S Bk Tokyo-Mitsubishi Ufj 26.02.16 2.4 99.34 1.27 68 Japan Financial US05252BBN82 12'568'044 100000 / 1000 AA- Aa2 USD 3.250 S Aust & Nz Banking Group 01.03.16 2.4 105.38 1.05 45 Australia Financial US748148RR64 2'463'354 1000 A+ Aa2 USD 5.000 S Province Of Quebec 01.03.16 2.4 110.11 0.88 29 Canada Sovereign-linked Entity US46625HHX17 12'535'196 2000 / 1000 A A2 USD 3.450 S Jpmorgan Chase & Co 01.03.16 2.4 105.30 1.28 68 USA Financial US05565QBQ01 12'663'046 1000 A A2 USD 3.200 S Bp Capital Markets Plc 11.03.16 2.4 105.08 1.15 54 United Kingdom Energy USU65478AG19 20'937'354 1000 BBB+ A3 USD 1.000 S Nissan Motor Acceptance 15.03.16 2.5 99.12 1.36 74 Japan Automaker XS0605177384 12'664'615 100000 AA- Aa3 USD 2.750 S Development Bk Of Japan 15.03.16 2.4 104.86 0.80 19 Japan Sovereign-linked Entity USN3113TAQ24 12'664'660 200000 / 1000 A+ A2 USD 4.000 S Ing Bank Nv 15.03.16 2.4 105.76 1.66 105 Netherlands Financial US298785FK77 12'264'362 1000 AAA Aaa USD 2.250 S European Investment Bank 15.03.16 2.4 103.67 0.78 17 SNAT Sovereign-linked Entity XS0247659542 2'480'138 2000 A+ Aa3 USD 5.625 A Siemens Financieringsmat 16.03.16 2.4 111.95 0.83 21 Germany Industrial US78009PCC32 12'696'316 2000 / 1000 A A3 USD 4.375 S Royal Bk Of Scotland Plc 16.03.16 2.4 106.66 1.67 106 United Kingdom Financial US92857WAW01 12'669'432 1000 A- A3 USD 2.875 S Vodafone Group Plc 16.03.16 2.4 103.69 1.39 77 United Kingdom TMT US06051GEG01 12'696'314 5000 A- Baa2 USD 3.625 S Bank Of America Corp 17.03.16 2.4 105.07 1.58 96 USA Financial USU2339CAK46 12'742'644 150000 / 1000 A- A3 USD 3.000 S Daimler Finance Na Llc 28.03.16 2.4 103.93 1.43 81 Germany Automaker US064149D876 12'749'324 2000 / 1000 A+ Aa2 USD 2.900 S Bank Of Nova Scotia 29.03.16 2.5 104.42 1.15 52 Canada Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US23636BAB53 12'852'741 200000 / 1000 A- Baa1 USD 3.875 S Danske Bank A/S 14.04.16 2.5 105.28 1.79 115 Denmark Financial US22532MAF95 21'145'199 200000 / 1000 A A2 USD 1.625 S Credit Agricole London 15.04.16 2.5 99.96 1.64 99 France Financial US002799AJ34 12'916'107 1000 A A2 USD 4.000 S Abbey Natl Treasury Serv 27.04.16 2.5 106.27 1.57 91 Spain Financial US61747YDD40 12'930'178 100000 / 1000 A- Baa1 USD 3.800 S Morgan Stanley 29.04.16 2.5 105.22 1.77 111 USA Financial US037833AH30 21'311'599 2000 / 1000 AA+ Aa1 USD 0.450 S Apple Inc 03.05.16 2.6 98.95 0.85 18 USA TMT XS0627063091 13'013'694 100000 / 1000 A+ A2 USD 3.200 S Standard Chartered Plc 12.05.16 2.6 104.51 1.48 80 United Kingdom Financial US00206RAW25 12'930'181 2000 / 1000 A- A3 USD 2.950 S At&T Inc 15.05.16 2.6 104.63 1.20 52 USA TMT US718172AJ81 13'015'594 2000 / 1000 A A2 USD 2.500 S Philip Morris Intl Inc 16.05.16 2.6 104.03 0.98 30 USA Consumer USQ95870AD52 13'007'783 2000 / 1000 A- A3 USD 2.983 S Wesfarmers Ltd 18.05.16 2.6 104.10 1.43 75 Australia Consumer US38259PAC68 13'047'517 2000 / 1000 AA Aa2 USD 2.125 S Google Inc 19.05.16 2.6 103.72 0.73 5 USA TMT US767201AM88 13'055'759 2000 / 1000 A- A3 USD 2.500 S Rio Tinto Fin Usa Ltd 20.05.16 2.6 102.56 1.53 85 Australia Basic Materials USG4637EFU40 13'059'076 150000 / 1000 AA- Aa3 USD 3.100 S Hsbc Bank Plc 24.05.16 2.6 104.86 1.27 58 United Kingdom Financial XS0628646480 13'061'977 200000 / 1000 AAA Aaa USD 2.350 S Idb Trust Services Ltd 25.05.16 2.6 103.83 0.92 23 SNAT Sovereign-linked Entity US24422ERC56 13'141'303 1000 A A2 USD 2.250 S John Deere Capital Corp 07.06.16 2.7 103.31 1.03 32 USA Financial USU00292AA73 13'198'678 1000 A A2 USD 2.500 S Abb Treasury Center Usa 15.06.16 2.7 103.80 1.11 39 Switzerland Industrial US166764AC43 21'675'177 2000 / 1000 AA Aa1 USD 0.889 S Chevron Corp 24.06.16 2.8 100.07 0.86 14 USA Energy US86960BAA08 13'325'572 250000 / 1000 AA- Aa3 USD 3.125 S Svenska Handelsbanken Ab 12.07.16 2.7 104.53 1.50 75 Sweden Financial US471065AH55 13'336'589 200000 / 1000 AA- Aa3 USD 2.250 S Japan Finance Corp 13.07.16 2.8 103.58 0.98 23 Japan Sovereign-linked Entity US89114QAB41 13'350'555 2000 / 1000 AA- Aa1 USD 2.500 S Toronto-Dominion Bank 14.07.16 2.8 104.01 1.07 32 Canada Financial US865622BA19 21'892'845 250000 / 1000 A+ Aa3 USD 1.450 S Sumitomo Mitsui Banking 19.07.16 2.8 100.22 1.37 62 Japan Financial US78008TLB88 13'385'581 1000 AA- Aa3 USD 2.300 S Royal Bank Of Canada 20.07.16 2.8 103.61 1.02 27 Canada Financial USJ7771KNY93 13'404'553 200000 / 1000 A+ Aa3 USD 2.900 S Sumitomo Mitsui Banking 22.07.16 2.8 103.92 1.50 75 Japan Financial US6325C1BN80 13'426'191 100000 / 1000 AA- Aa2 USD 3.000 S National Australia Bank 27.07.16 2.8 104.81 1.30 54 Australia Financial US009158AQ92 13'483'205 2000 / 1000 A A2 USD 2.000 S Air Products & Chemicals 02.08.16 2.8 101.67 1.41 65 USA Basic Materials US89153VAF67 22'072'386 2000 / 1000 AA- Aa1 USD 1.000 S Total Capital Intl Sa 12.08.16 2.9 99.68 1.11 33 France Energy US55608RAC43 22'100'044 2000 / 1000 A A2 USD 2.000 S Macquarie Bank Ltd 15.08.16 2.8 100.00 2.00 122 Australia Financial US00206RAY80 13'635'465 2000 / 1000 A- A3 USD 2.400 S At&T Inc 15.08.16 2.8 103.19 1.29 51 USA TMT US25468PCM68 13'659'137 2000 / 1000 A A2 USD 1.350 S Walt Disney Company/The 16.08.16 2.9 101.41 0.87 8 USA TMT US19122TAD19 13'649'786 200000 / 1000 BBB A3 USD 2.000 S Coca-Cola Enterprises 19.08.16 2.9 101.81 1.37 59 USA Consumer XS0671005576 13'704'608 100000 / 1000 AAA Aa1 USD 1.250 S Network Rail Infra Fin 31.08.16 2.9 100.99 0.91 11 United Kingdom Transportation US008281BA42 13'711'004 1000 AAA Aaa USD 1.250 S African Development Bank 02.09.16 2.9 101.00 0.91 11 SNAT Sovereign-linked Entity US35177PAV94 13'818'594 2000 / 1000 BBB+ A3 USD 2.750 S Orange Sa 14.09.16 2.9 102.86 1.77 96 France TMT XS0674841696 13'823'057 200000 / 1000 A+ A1 USD 2.250 S Mitsubishi Corp 14.09.16 2.9 101.97 1.58 76 Japan Consumer USU2339CAR98 13'823'080 150000 / 1000 A- A3 USD 2.625 S Daimler Finance Na Llc 15.09.16 2.9 103.07 1.58 77 Germany Automaker US24422ERF87 13'703'742 1000 A A2 USD 1.850 S John Deere Capital Corp 15.09.16 2.9 101.89 1.21 40 USA Financial US767201AP10 13'884'704 2000 / 1000 A- A3 USD 2.250 S Rio Tinto Fin Usa Ltd 20.09.16 2.9 102.18 1.51 69 Australia Basic Materials US02666RAT86 13'875'328 200000 / 1000 A+ A1 USD 2.600 S American Honda Finance 20.09.16 2.9 103.52 1.41 59 Japan Financial US500769ES95 13'987'390 1000 AAA Aaa USD 1.250 S Kfw 05.10.16 3.0 100.90 0.95 11 Germany Financial XS0804777679 19'024'727 2000 A- A3 USD 1.875 A Vw Credit Inc 13.10.16 3.0 101.48 1.39 53 Germany Automaker US36962G5H37 14'093'632 1000 AA+ A1 USD 3.350 S General Elec Cap Corp 17.10.16 2.9 105.55 1.52 67 USA Financial US05565QBT40 14'217'090 1000 A A2 USD 2.248 S Bp Capital Markets Plc 01.11.16 3.0 102.89 1.31 44 United Kingdom Energy US055451AK46 14'345'147 2000 / 1000 A+ A1 USD 1.875 S Bhp Billiton Fin Usa Ltd 21.11.16 3.1 101.97 1.25 35 Australia Basic Materials XS0641398788 13'217'159 2000 Aa2 USD 2.000 A Nestle Holdings Inc 28.11.16 3.1 103.10 1.02 11 Switzerland Consumer XS0468848253 10'751'084 1000 AAA Aaa USD 3.125 S European Investment Bank 15.12.16 3.1 106.41 1.13 21 SNAT Sovereign-linked Entity

US36962G5N05 14'678'239 1000 AA+ A1 USD 2.900 S General Elec Cap Corp 09.01.17 3.2 103.63 1.78 83 USA Financial US172967FW62 14'666'887 1000 A- Baa2 USD 4.450 S Citigroup Inc 10.01.17 3.1 108.14 1.93 98 USA Financial USU2339CAT54 14'678'231 150000 / 1000 A- A3 USD 2.950 S Daimler Finance Na Llc 11.01.17 3.2 103.33 1.92 97 Germany Automaker USJ7771KPH43 14'695'619 200000 / 1000 A+ Aa3 USD 2.650 S Sumitomo Mitsui Banking 12.01.17 3.2 101.90 2.06 111 Japan Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US89233P5S11 14'711'867 2000 / 1000 AA- Aa3 USD 2.050 S Toyota Motor Credit Corp 12.01.17 3.2 101.86 1.48 53 Japan Financial US21686CAD20 14'740'848 1000 AA- Aa2 USD 3.375 S Rabobank Nederland 19.01.17 3.2 105.65 1.64 68 Netherlands Financial XS0741962681 14'894'956 200000 / 1000 A A2 USD 4.250 S Abn Amro Bank Nv 02.02.17 3.2 106.90 2.14 116 Netherlands Financial US55608RAA86 18'005'031 2000 / 1000 A A2 USD 5.000 S  Macquarie Bank Ltd 22.02.17 3.2 108.15 2.53 153 Australia Financial US055451AP33 18'050'731 2000 / 1000 A+ A1 USD 1.625 S Bhp Billiton Fin Usa Ltd 24.02.17 3.4 99.73 1.71 70 Australia Basic Materials US02666RAW16 18'050'413 200000 / 1000 A+ A1 USD 2.125 S American Honda Finance 28.02.17 3.3 101.25 1.75 75 Japan Financial USN4578BQC10 18'103'476 200000 / 1000 A+ A2 USD 3.750 S Ing Bank Nv 07.03.17 3.2 104.91 2.28 127 Netherlands Financial US63254AAB44 18'112'795 250000 / 1000 AA- Aa2 USD 2.750 S National Australia Bk Lt 09.03.17 3.3 102.88 1.90 88 Australia Financial US686330AG66 18'137'209 2000 / 1000 A- Baa2u USD 3.750 S Orix Corp 09.03.17 3.2 104.02 2.54 153 Japan Financial US65557HAB87 18'196'517 200000 / 1000 AA- Aa3 USD 3.125 S Nordea Bank Ab 20.03.17 3.3 104.61 1.78 75 Sweden Financial US92857WAX83 18'178'524 1000 A- A3 USD 1.625 S Vodafone Group Plc 20.03.17 3.4 99.30 1.83 80 United Kingdom TMT XS0763676557 18'231'702 100000 / 1000 A- A3 USD 2.375 S Volkswagen Intl Fin Nv 22.03.17 3.4 101.89 1.82 79 Germany Automaker US06051GEQ82 18'229'725 2000 / 1000 A- Baa2 USD 3.875 S Bank Of America Corp 22.03.17 3.3 106.03 2.10 107 USA Financial US61747YDT91 18'229'553 1000 A- Baa1 USD 4.750 S Morgan Stanley 22.03.17 3.2 107.63 2.49 145 USA Financial US539473AQ13 18'256'257 1000 A A2 USD 4.200 S Lloyds Tsb Bank Plc 28.03.17 3.3 106.97 2.16 112 United Kingdom Financial US86960BAB80 18'319'017 250000 / 1000 AA- Aa3 USD 2.875 S Svenska Handelsbanken Ab 04.04.17 3.4 103.28 1.92 88 Sweden Financial USU2339CAX66 18'344'569 150000 / 1000 A- A3 USD 2.400 S Daimler Finance Na Llc 10.04.17 3.4 101.39 2.00 94 Germany Automaker xs0771920856 18'352'956 100000 / 1000 NR Aa1 USD 2.125 S  Caisse D'Amort Dette Soc 12.04.17 3.4 102.29 1.47 41 France Sovereign-linked Entity US36962G5W04 18'477'190 1000 AA+ A1 USD 2.300 S General Elec Cap Corp 27.04.17 3.5 101.52 1.87 79 USA Financial US19416QDU13 12'954'862 1000 AA- Aa3 USD 2.625 S Colgate-Palmolive Co 01.05.17 3.5 104.29 1.42 34 USA Consumer US05565QBY35 18'531'843 1000 A A2 USD 1.846 S Bp Capital Markets Plc 05.05.17 3.5 100.11 1.81 73 United Kingdom Energy US00037BAA08 18'540'980 2000 / 1000 A A2 USD 1.625 S Abb Finance Usa Inc 08.05.17 3.5 99.30 1.82 74 Switzerland Industrial US25243YAR09 18'574'985 1000 A- A3 USD 1.500 S Diageo Capital Plc 11.05.17 3.5 99.27 1.70 61 United Kingdom Consumer US031162BQ24 18'589'347 2000 / 1000 A Baa1 USD 2.125 S Amgen Inc 15.05.17 3.5 100.75 1.91 82 USA Consumer US913017BU24 18'687'039 2000 / 1000 A A2 USD 1.800 S United Technologies Corp 01.06.17 3.6 100.66 1.62 50 USA Industrial USG08820BU89 18'750'558 2000 / 1000 A- A3 USD 2.125 S Bat Intl Finance Plc 07.06.17 3.6 101.35 1.75 63 United Kingdom Consumer xs0789060653 18'724'010 200000 / 1000 AA- USD 1.750 A  Tokyo Metropolitan Govt 08.06.17 3.6 100.93 1.49 36 Japan Sovereign-linked Entity XS0795390318 18'850'448 2000 / 1000 Aa2 USD 1.375 A Nestle Holdings Inc 21.06.17 3.7 99.54 1.50 36 Switzerland Consumer USF58485AU18 18'924'926 2000 / 1000 A USD 1.625 S Lvmh Moet Hennessy Louis 29.06.17 3.7 100.13 1.59 44 France Consumer US865622AV64 19'026'573 250000 / 1000 A+ Aa3 USD 1.800 S Sumitomo Mitsui Banking 18.07.17 3.7 98.81 2.12 95 Japan Financial XS0528837841 11'559'799 1000 AAA Aaa USD 2.750 A Kfw 27.07.17 3.7 105.32 1.34 16 Germany Financial US110122AS73 19'152'747 2000 / 1000 A+ A2 USD 0.875 S Bristol-Myers Squibb Co 01.08.17 3.8 97.03 1.66 48 USA Consumer US55608KAC99 11'604'664 2000 / 1000 BBB A3 USD 4.875 S Macquarie Group Ltd 10.08.17 3.6 107.11 2.95 175 Australia Financial US48126EAA55 19'277'114 2000 / 1000 A A2 USD 2.000 S Jpmorgan Chase & Co 15.08.17 3.8 99.68 2.08 88 USA Financial US85771PAB85 11'629'839 1000 AA- Aa2 USD 3.125 S Statoil Asa 17.08.17 3.7 105.59 1.66 45 Norway Energy XS0533969415 11'642'592 1000 AAA Aaa USD 2.250 A Asian Development Bank 18.08.17 3.8 103.74 1.27 6 SNAT Sovereign-linked Entity US59018YJ698 3'359'425 1000 A- Baa2 USD 6.400 S Merrill Lynch & Co 28.08.17 3.6 114.25 2.61 139 USA Financial US02666RBB69 19'433'500 200000 / 1000 A+ A1 USD 1.500 S American Honda Finance 11.09.17 3.8 98.12 1.99 76 Japan Financial USU65478AE60 19'441'030 2000 / 1000 BBB+ A3 USD 1.950 S Nissan Motor Acceptance 12.09.17 3.8 98.63 2.31 108 Japan Automaker US22533E2A60 19'650'355 200000 / 1000 A A2 USD 3.000 S  Credit Agricole Sa 01.10.17 3.8 101.99 2.48 123 France Financial US24422ERW11 19'433'479 1000 A A2 USD 1.200 S John Deere Capital Corp 10.10.17 4.0 97.76 1.77 50 USA Financial US83368RAC60 19'755'407 250000 / 1000 A A2 USD 2.750 S Societe Generale 12.10.17 3.8 101.82 2.28 101 France Financial US91324PBY79 19'861'288 2000 / 1000 A A3 USD 1.400 S Unitedhealth Group Inc 15.10.17 4.0 98.69 1.73 46 USA Consumer US25243YAM12 3'368'189 1000 A- A3 USD 5.750 S Diageo Capital Plc 23.10.17 3.7 114.70 2.02 74 United Kingdom Consumer US73755LAJ61 12'062'706 2000 / 1000 A- A3 USD 3.250 S Potash Corp-Saskatchewan 01.12.17 3.9 103.39 2.40 108 Canada Basic Materials US68323AAC80 12'149'886 5000 / 1000 AA- Aa2 USD 3.150 S Ontario (Province Of) 15.12.17 4.0 106.07 1.67 33 Canada Sovereign-linked Entity XS0558939269 12'002'730 1000 Aaa USD 2.000 S European Investment Bank 15.12.17 4.1 101.50 1.63 29 SNAT Sovereign-linked Entity

US59217HAF47 20'383'837 100000 / 1000 AA- Aa3 USD 1.500 S Met Life Glob Funding I 10.01.18 4.2 98.07 1.97 59 USA Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US06051GET22 20'423'876 2000 / 1000 A- Baa2 USD 2.000 S Bank Of America Corp 11.01.18 4.1 97.26 2.67 130 USA Financial US40428HPH92 20'275'022 100000 / 1000 A+ A2 USD 1.625 S Hsbc Usa Inc 16.01.18 4.2 96.99 2.35 98 United Kingdom Financial US46625HJG65 20'504'317 2000 / 1000 A A2 USD 1.800 S Jpmorgan Chase & Co 25.01.18 4.2 97.60 2.38 99 USA Financial US92857WBE93 20'696'256 1000 A- A3 USD 1.500 S Vodafone Group Plc 19.02.18 4.3 96.49 2.33 92 United Kingdom TMT USJ0423YBE35 20'761'898 200000 / 1000 A+ Aa3 USD 1.650 S Bk Tokyo-Mitsubishi Ufj 26.02.18 4.3 96.93 2.38 95 Japan Financial USU65478AH91 20'937'356 1000 BBB+ A3 USD 1.800 S Nissan Motor Acceptance 15.03.18 4.3 97.98 2.27 83 Japan Automaker XS0914293575 21'087'360 2000 A- A3 USD 1.750 A Daimler Intl Finance Bv 10.04.18 4.3 98.37 2.12 64 Germany Automaker US22532MAH51 21'145'197 200000 / 1000 A A2 USD 2.125 S Credit Agricole London 17.04.18 4.4 101.71 1.74 25 France Financial US36962G3U65 3'968'873 1000 AA+ A1 USD 5.625 S General Elec Cap Corp 01.05.18 4.1 114.20 2.38 88 USA Industrial US037833AJ95 21'311'603 2000 / 1000 AA+ Aa1 USD 1.000 S Apple Inc 03.05.18 4.5 95.87 1.93 43 USA TMT US59217HAH03 21'675'186 150000 / 1000 AA- Aa3 USD 1.875 S Met Life Glob Funding I 22.06.18 4.5 97.80 2.36 80 USA Financial XS0951574085 21'874'995 200000 / 1000 A+ A1 USD 2.875 S Mitsubishi Corp 18.07.18 4.5 101.49 2.55 96 Japan Consumer US865622BC74 21'892'847 250000 / 1000 A+ Aa3 USD 2.500 S Sumitomo Mitsui Banking 19.07.18 4.5 100.38 2.42 82 Japan Financial US89152UAG76 22'072'404 2000 / 1000 AA- Aa1 USD 2.125 S Total Capital Sa 10.08.18 4.6 99.64 2.20 59 France Energy US822582AW21 22'099'943 1000 AA Aa1 USD 1.900 S Shell International Fin 10.08.18 4.7 99.39 2.03 41 Netherlands Energy US05574LPT97 22'137'678 1000 A+ A2 USD 2.700 S Bnp Paribas 20.08.18 4.6 99.65 2.78 115 France Financial

US58013MEQ33 18'679'488 1000 A A2 USD 1.875 S Mcdonald'S Corp 29.05.19 5.4 99.14 2.03 17 USA Consumer US563469TV78 18'681'627 1000 AA Aa1 USD 1.750 S Manitoba (Province Of) 30.05.19 5.4 97.72 2.17 31 Canada Sovereign-linked Entity USU2339CAZ15 19'141'376 150000 / 1000 A- A3 USD 2.250 S Daimler Finance Na Llc 31.07.19 5.5 96.97 2.81 89 Germany Automaker US882508AU85 19'170'333 2000 / 1000 A+ A1 USD 1.650 S Texas Instruments Inc 03.08.19 5.6 96.13 2.36 43 USA Industrial US36962G4D32 10'435'985 1000 AA+ A1 USD 6.000 S General Elec Cap Corp 07.08.19 5.0 115.57 3.10 118 USA Financial US22546QAC15 10'453'086 100000 / 1000 A A1 USD 5.300 S Credit Suisse New York 13.08.19 5.1 112.36 3.01 108 Switzerland Financial US822582AJ10 10'573'065 1000 AA Aa1 USD 4.300 S Shell International Fin 22.09.19 5.3 110.10 2.49 53 Netherlands Energy US61747YCJ29 10'577'990 100000 / 1000 A- Baa1 USD 5.625 S Morgan Stanley 23.09.19 5.0 110.23 3.72 176 USA Financial XS0833058273 19'599'050 200000 / 1000 AA- Aa3 USD 1.625 S Development Bk Of Japan 25.09.19 5.7 95.89 2.36 39 Japan Sovereign-linked Entity US6832348D38 10'623'906 5000 / 1000 AA- Aa2 USD 4.000 S Ontario (Province Of) 07.10.19 5.3 108.12 2.55 57 Canada Sovereign-linked Entity US2027A1DJ35 10'649'629 2000 / 1000 AA- Aa2 USD 5.000 S Commonwealth Bank Aust 15.10.19 5.2 111.45 2.94 96 Australia Financial US780097AW11 10'668'023 100000 / 1000 A- Baa1 USD 6.400 S Royal Bk Scotlnd Grp Plc 21.10.19 5.0 112.53 4.07 208 United Kingdom Financial

US55608KAB17 10'898'640 2000 / 1000 BBB A3 USD 6.000 S Macquarie Group Ltd 14.01.20 5.3 108.26 4.49 243 Australia Financial US61747YCM57 10'953'839 100000 / 1000 A- Baa1 USD 5.500 S Morgan Stanley 26.01.20 5.4 110.14 3.70 163 USA Financial US822582AM49 11'153'569 1000 AA Aa1 USD 4.375 S Shell International Fin 25.03.20 5.6 109.69 2.75 63 Netherlands Energy USU03597AN82 11'171'044 2000 / 1000 A A3 USD 5.000 S Anheuser-Busch Inbev Wor 15.04.20 5.5 100.00 5.00 286 Belgium Consumer USN93695BL23 11'615'640 100000 / 1000 A- A3 USD 4.000 S Volkswagen Intl Fin Nv 12.08.20 6.0 105.66 3.09 85 Germany Automaker USG4639DVV48 11'616'115 100000 / 1000 AA- Aa3 USD 4.125 S Hsbc Bank Plc 12.08.20 6.0 104.15 3.45 121 United Kingdom Financial US500769DZ48 11'711'784 1000 AAA Aaa USD 2.750 S Kfw 08.09.20 6.3 101.20 2.56 31 Germany Financial US298785FH49 11'739'106 1000 AAA Aaa USD 2.875 S European Investment Bank 15.09.20 6.2 100.59 2.78 52 SNAT Sovereign-linked Entity US36962G4R28 11'756'761 1000 AA+ A1 USD 4.375 S General Elec Cap Corp 16.09.20 5.9 105.64 3.46 120 USA Financial USQ98418AH10 11'760'939 2000 / 1000 A- A3 USD 4.000 S Woolworths Limited 22.09.20 6.0 103.34 3.46 120 Australia Consumer US05565QBP28 11'822'628 1000 A A2 USD 4.500 S Bp Capital Markets Plc 01.10.20 6.0 107.14 3.36 109 United Kingdom Energy US931142CZ44 11'905'941 2000 / 1000 AA Aa2 USD 3.250 S Wal-Mart Stores Inc 25.10.20 6.3 103.20 2.75 47 USA Consumer US767201AK23 11'959'224 2000 / 1000 A- A3 USD 3.500 S Rio Tinto Fin Usa Ltd 02.11.20 6.2 98.84 3.69 140 Australia Basic Materials US191216AR14 11'992'536 2000 / 1000 AA- Aa3 USD 3.150 S Coca-Cola Co/The 15.11.20 6.4 102.09 2.83 54 USA Consumer US427866AR98 12'149'165 2000 / 1000 A A1 USD 4.125 S Hershey Company 01.12.20 6.2 107.96 2.90 60 USA Consumer US026874BW66 12'104'966 2000 / 1000 A- Baa1 USD 6.400 S American Intl Group 15.12.20 5.9 116.74 3.75 145 USA Financial US14149YAT55 12'149'170 2000 / 1000 A- Baa2 USD 4.625 S Cardinal Health Inc 15.12.20 6.1 107.32 3.48 117 USA Consumer

US06051GEE52 12'201'383 5000 A- Baa2 USD 5.875 S Bank Of America Corp 05.01.21 6.0 112.66 3.87 156 USA Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US89233P4S20 12'274'848 2000 / 1000 AA- Aa3 USD 4.250 S Toyota Motor Credit Corp 11.01.21 6.3 107.90 3.04 72 Japan Financial US21685WBT36 12'260'216 1000 AA- Aa2 USD 4.500 S Rabobank Nederland 11.01.21 6.2 105.67 3.61 130 Netherlands Financial US78010XAK72 12'260'491 2000 / 1000 A A3 USD 6.125 S Royal Bk Of Scotland Plc 11.01.21 5.9 111.71 4.25 194 United Kingdom Financial US05252BBK44 12'276'044 100000 / 1000 AA- Aa2 USD 4.875 S Aust & Nz Banking Group 12.01.21 6.2 109.39 3.42 110 Australia Financial US064149C886 12'288'105 2000 / 1000 A+ Aa2 USD 4.375 S Bank Of Nova Scotia 13.01.21 6.3 108.08 3.14 82 Canada Financial XS0568671555 12'287'856 100000 AA- Aa3 USD 4.000 S Japan Fin Org Municipal 13.01.21 6.4 108.10 2.77 46 Japan Government US55608KAD72 12'284'020 2000 / 1000 BBB A3 USD 6.250 S Macquarie Group Ltd 14.01.21 5.9 107.92 4.95 263 Australia Financial US65557DAF87 12'308'770 200000 / 1000 AA- Aa3 USD 4.875 S Nordea Bank Ab 14.01.21 6.2 109.54 3.40 108 Sweden Financial US05567LT315 12'323'269 1000 A+ A2 USD 5.000 S Bnp Paribas 15.01.21 6.1 106.70 3.94 162 France Financial US539473AH14 12'335'627 1000 A A2 USD 6.375 S Lloyds Tsb Bank Plc 21.01.21 6.0 116.49 3.79 147 United Kingdom Financial US89152UAF93 12'390'123 1000 AA- Aa1 USD 4.125 S Total Capital Sa 28.01.21 6.4 107.24 3.02 70 France Energy US594918AL81 12'457'270 2000 / 1000 AAA Aaa USD 4.000 S Microsoft Corp 08.02.21 6.4 106.94 2.95 62 USA TMT US904764AM94 12'471'554 100000 / 1000 A+ A1 USD 4.250 S Unilever Capital Corp 10.02.21 6.4 107.98 3.04 71 Netherlands Consumer US03523TBB35 12'396'748 1000 A A3 USD 4.375 S Anheuser-Busch Inbev Wor 15.02.21 6.4 107.59 3.22 89 Belgium Consumer XS0592582653 12'489'091 2000 AAA Aaa USD 4.375 S Bk Nederlandse Gemeenten 16.02.21 6.4 109.74 2.91 58 Netherlands Financial US438516BA30 12'507'260 2000 / 1000 A A2 USD 4.250 S Honeywell International 01.03.21 6.4 108.40 2.99 65 USA Industrial US05565QBR83 12'663'047 1000 A A2 USD 4.742 S Bp Capital Markets Plc 11.03.21 6.2 107.96 3.53 118 United Kingdom Energy US92857WAV28 12'669'429 1000 A- A3 USD 4.375 S Vodafone Group Plc 16.03.21 6.3 105.12 3.59 124 United Kingdom TMT US83368TAA60 12'870'455 200000 / 1000 A A2 USD 5.200 S Societe Generale 15.04.21 6.2 107.31 4.07 171 France Financial US46625HHZ64 12'987'195 2000 / 1000 A A2 USD 4.625 S Jpmorgan Chase & Co 10.05.21 6.4 106.62 3.63 125 USA Financial US06051GEH83 13'015'596 5000 A- Baa2 USD 5.000 S Bank Of America Corp 13.05.21 6.3 106.87 3.95 158 USA Financial US00206RAX08 12'930'182 2000 / 1000 A- A3 USD 4.450 S At&T Inc 15.05.21 6.4 106.10 3.54 116 USA TMT US718172AK54 13'015'571 2000 / 1000 A A2 USD 4.125 S Philip Morris Intl Inc 17.05.21 6.5 105.08 3.37 99 USA Consumer US38259PAB85 13'047'520 2000 / 1000 AA Aa2 USD 3.625 S Google Inc 19.05.21 6.6 103.87 3.06 68 USA TMT US767201AN61 13'055'757 2000 / 1000 A- A3 USD 4.125 S Rio Tinto Fin Usa Ltd 20.05.21 6.5 101.91 3.84 145 Australia Basic Materials US149123BV25 13'091'865 2000 / 1000 A A2 USD 3.900 S Caterpillar Inc 27.05.21 6.6 104.18 3.28 90 USA Industrial USN4578BQA53 13'138'254 200000 / 1000 A+ A2 USD 5.000 S Ing Bank Nv 09.06.21 6.4 107.23 3.91 152 Netherlands Financial USU00292AB56 13'198'679 1000 A A2 USD 4.000 S Abb Treasury Center Usa 15.06.21 6.6 103.99 3.41 102 Switzerland Industrial US24422ERE13 13'350'524 1000 A A2 USD 3.900 S John Deere Capital Corp 12.07.21 6.7 104.69 3.22 81 USA Financial XS0643616435 13'252'534 100000 / 1000 A- USD 4.875 S Heathrow Funding Ltd 15.07.21 6.5 105.45 4.06 165 United Kingdom Industrial US46625HJC51 13'517'069 2000 / 1000 A A2 USD 4.350 S Jpmorgan Chase & Co 15.08.21 6.7 104.45 3.70 127 USA Financial US00206RAZ55 13'635'466 2000 / 1000 A- A3 USD 3.875 S At&T Inc 15.08.21 6.8 101.92 3.59 117 USA TMT US25468PCN42 13'659'139 2000 / 1000 A A2 USD 2.750 S Walt Disney Company/The 16.08.21 7.1 97.79 3.07 64 USA TMT US713448BW74 13'692'749 2000 / 1000 A- A1 USD 3.000 S Pepsico Inc 25.08.21 7.0 97.77 3.32 89 USA Consumer US74005PAZ71 13'765'327 2000 / 1000 A A2 USD 3.000 S Praxair Inc 01.09.21 7.0 97.79 3.32 89 USA Basic Materials US35177PAW77 13'818'595 2000 / 1000 BBB+ A3 USD 4.125 S Orange Sa 14.09.21 6.7 100.75 4.01 158 France TMT USU2339CAM02 13'823'084 150000 / 1000 A- A3 USD 3.875 S Daimler Finance Na Llc 15.09.21 6.7 102.06 3.58 114 Germany Automaker US767201AQ92 13'884'706 2000 / 1000 A- A3 USD 3.750 S Rio Tinto Fin Usa Ltd 20.09.21 6.8 98.78 3.93 149 Australia Basic Materials US02666RAU59 13'884'658 200000 / 1000 A+ A1 USD 3.800 S American Honda Finance 20.09.21 6.8 103.95 3.24 80 Japan Financial USQ8975NAB12 12'852'746 2000 / 1000 A A2 USD 4.800 S Telstra Corp Ltd 12.10.21 6.6 108.54 3.58 112 Australia TMT US24422ERH44 14'040'866 1000 A A2 USD 3.150 S John Deere Capital Corp 15.10.21 7.0 99.69 3.19 74 USA Financial US36962G5J92 14'093'628 1000 AA+ A1 USD 4.650 S General Elec Cap Corp 17.10.21 6.7 105.68 3.83 137 USA Financial US05565QBU13 14'217'091 1000 A A2 USD 3.561 S Bp Capital Markets Plc 01.11.21 6.9 100.12 3.54 108 United Kingdom Energy US74432QBT13 14'313'075 1000 A Baa1 USD 4.500 S Prudential Financial Inc 16.11.21 6.8 106.14 3.63 116 USA Financial US055451AL29 14'345'148 2000 / 1000 A+ A1 USD 3.250 S Bhp Billiton Fin Usa Ltd 21.11.21 7.1 98.08 3.52 105 Australia Basic Materials US89152UAB89 10'817'539 1000 AA- Aa1 USD 4.250 S Total Capital Sa 15.12.21 6.9 107.36 3.23 74 France Energy

USJ7771KPK71 14'695'043 200000 / 1000 A+ Aa3 USD 3.950 S Sumitomo Mitsui Banking 12.01.22 7.0 101.19 3.78 128 Japan Financial US89233P5T93 14'711'870 2000 / 1000 AA- Aa3 USD 3.300 S Toyota Motor Credit Corp 12.01.22 7.2 99.03 3.43 94 Japan Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US404280AL34 14'329'631 2000 / 1000 A+ Aa3 USD 4.875 S Hsbc Holdings Plc 14.01.22 6.9 107.65 3.80 130 United Kingdom Financial US172967FT34 14'195'341 1000 A- Baa2 USD 4.500 S Citigroup Inc 14.01.22 6.9 104.07 3.92 142 USA Financial US46625HJD35 14'762'770 2000 / 1000 A A2 USD 4.500 S Jpmorgan Chase & Co 24.01.22 6.9 104.48 3.87 137 USA Financial US06051GEM78 14'816'884 2000 / 1000 A- Baa2 USD 5.700 S Bank Of America Corp 24.01.22 6.7 111.43 4.08 157 USA Financial US21685WDD65 14'916'010 1000 AA- Aa2 USD 3.875 S Rabobank Nederland 08.02.22 7.1 100.33 3.83 132 Netherlands Financial US055451AQ16 18'050'718 2000 / 1000 A+ A1 USD 2.875 S Bhp Billiton Fin Usa Ltd 24.02.22 7.4 94.60 3.62 110 Australia Basic Materials XS0748939880 18'059'203 200000 / 1000 A A1 USD 4.850 S Sumitomo Mitsui Banking 01.03.22 6.9 103.61 4.34 182 Japan Financial US500472AF27 18'127'295 2000 / 1000 A- A3 USD 3.750 S Koninklijke Philips Nv 15.03.22 7.1 101.13 3.59 107 Netherlands Industrial US87164KAA25 18'256'079 1000 A A2 USD 3.125 S Syngenta Finance Nv 28.03.22 7.3 96.17 3.65 111 Switzerland Basic Materials US404280AN99 18'307'994 2000 / 1000 A+ Aa3 USD 4.000 S Hsbc Holdings Plc 30.03.22 7.1 101.37 3.81 128 United Kingdom Financial US05565QBZ00 18'531'775 1000 A A2 USD 3.245 S Bp Capital Markets Plc 06.05.22 7.4 96.37 3.74 119 United Kingdom Energy US00037BAB80 18'540'982 2000 / 1000 A A2 USD 2.875 S Abb Finance Usa Inc 08.05.22 7.5 95.60 3.47 91 Switzerland Industrial US25245BAB36 18'574'969 1000 A- A3 USD 2.875 S Diageo Investment Corp 11.05.22 7.5 95.59 3.47 91 United Kingdom Consumer US913017BV07 18'687'030 2000 / 1000 A A2 USD 3.100 S United Technologies Corp 01.06.22 7.5 97.79 3.39 83 USA Industrial USG08820BX29 18'750'573 2000 / 1000 A- A3 USD 3.250 S Bat Intl Finance Plc 07.06.22 7.5 97.92 3.53 96 United Kingdom Consumer USF12033AZ33 18'717'512 200000 / 1000 A- A3 USD 3.000 S Danone 15.06.22 7.6 95.77 3.57 99 France Consumer US865622AW48 19'027'023 250000 / 1000 A+ Aa3 USD 3.200 S Sumitomo Mitsui Banking 18.07.22 7.6 95.29 3.83 124 Japan Financial US459200HG92 19'141'368 100000 / 1000 AA- Aa3 USD 1.875 S Ibm Corp 01.08.22 8.0 88.47 3.39 79 USA TMT US110122AT56 19'152'749 2000 / 1000 A+ A2 USD 2.000 S Bristol-Myers Squibb Co 01.08.22 8.0 89.19 3.42 82 USA Consumer US134429AY59 19'170'340 2000 / 1000 BBB+ A2 USD 2.500 S Campbell Soup Co 02.08.22 7.8 90.51 3.76 117 USA Consumer US563469TX35 19'390'295 1000 AA Aa1 USD 2.100 S Manitoba (Province Of) 06.09.22 8.0 91.43 3.20 59 Canada Sovereign-linked Entity US66989HAE80 19'607'231 2000 / 1000 AA- Aa3 USD 2.400 S Novartis Capital Corp 21.09.22 7.9 92.38 3.38 76 Switzerland Consumer USF86921CJ48 19'624'769 2000 / 1000 A- A3 USD 2.950 S Schneider Electric Sa 27.09.22 7.7 94.79 3.63 100 France Industrial US369604BD45 19'722'577 2000 / 1000 AA+ Aa3 USD 2.700 S General Electric Co 09.10.22 7.9 93.97 3.48 85 USA Industrial USF42768GM14 19'736'374 2000 / 1000 A A1 USD 2.875 S Gdf Suez 10.10.22 7.8 94.07 3.65 102 France Utilities USU7514EAU48 20'145'680 2000 / 1000 AA- A1 USD 2.875 S Swiss Re Treasury (Us) 06.12.22 8.0 94.52 3.58 92 Switzerland Financial

US36962G6S82 20'384'170 1000 AA+ A1 USD 3.100 S General Elec Cap Corp 09.01.23 7.9 92.78 4.03 136 USA Financial US59217HAE71 20'384'161 100000 / 1000 AA- Aa3 USD 3.000 S Met Life Glob Funding I 10.01.23 8.0 95.09 3.62 95 USA Financial US06051GEU94 20'423'878 2000 / 1000 A- Baa2 USD 3.300 S Bank Of America Corp 11.01.23 7.9 92.51 4.28 160 USA Financial US46625HJH49 20'504'309 2000 / 1000 A A2 USD 3.200 S Jpmorgan Chase & Co 25.01.23 7.9 93.80 4.00 131 USA Financial US19416QEA40 19'159'408 1000 AA- Aa3 USD 1.950 S Colgate-Palmolive Co 01.02.23 8.4 89.65 3.23 55 USA Consumer US92857WBC38 20'696'531 1000 A- A3 USD 2.950 S Vodafone Group Plc 19.02.23 8.1 91.46 4.05 135 United Kingdom TMT US61746BDJ26 20'776'779 1000 A- Baa1 USD 3.750 S Morgan Stanley 25.02.23 7.8 94.91 4.41 171 USA Financial USJ0423YBF00 20'761'899 200000 / 1000 A+ Aa3 USD 3.200 S Bk Tokyo-Mitsubishi Ufj 26.02.23 8.1 95.68 3.75 105 Japan Financial US05574LFY92 20'801'740 1000 A+ A2 USD 3.250 S Bnp Paribas 03.03.23 8.0 92.20 4.26 156 France Financial US037833AK68 21'311'623 2000 / 1000 AA+ Aa1 USD 2.400 S Apple Inc 03.05.23 8.4 90.43 3.58 85 USA TMT US865622BE31 21'892'850 250000 / 1000 A+ Aa3 USD 3.950 S Sumitomo Mitsui Banking 19.07.23 8.1 99.34 4.03 126 Japan Financial US06053FAA75 21'942'275 2000 / 1000 A- Baa2 USD 4.100 S Bank Of America Corp 24.07.23 8.0 98.67 4.27 149 USA Financial US822582AX04 22'099'982 1000 AA Aa1 USD 3.400 S Shell International Fin 12.08.23 8.3 99.45 3.47 68 Netherlands Energy

US89153VAG41 22'072'393 2000 / 1000 AA- Aa1 USD 3.700 S Total Capital Intl Sa 15.01.24 8.5 100.35 3.66 86 France Energy

US055451AR98 18'050'720 2000 / 1000 A+ A1 USD 4.125 S Bhp Billiton Fin Usa Ltd 24.02.42 16.1 92.61 4.59 96 Australia Basic Materials US713448BZ06 18'103'475 2000 / 1000 A- A1 USD 4.000 S Pepsico Inc 05.03.42 16.2 89.94 4.64 101 USA Consumer US500472AE51 18'146'471 2000 / 1000 A- A3 USD 5.000 S Koninklijke Philips Nv 15.03.42 14.8 100.63 4.96 132 Netherlands Industrial US87164KAB08 18'256'124 1000 A A2 USD 4.375 S Syngenta Finance Nv 28.03.42 15.6 96.10 4.62 99 Switzerland Basic Materials US25245BAA52 18'574'922 1000 A- A3 USD 4.250 S Diageo Investment Corp 11.05.42 15.8 93.34 4.67 103 United Kingdom Consumer US913017BT50 18'687'034 2000 / 1000 A A2 USD 4.500 S United Technologies Corp 01.06.42 15.7 98.45 4.60 95 USA Industrial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. USD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US110122AU20 19'152'752 2000 / 1000 A+ A2 USD 3.250 S Bristol-Myers Squibb Co 01.08.42 17.3 80.82 4.43 78 USA Consumer US134429AZ25 19'170'341 2000 / 1000 BBB+ A2 USD 3.800 S Campbell Soup Co 02.08.42 16.1 82.48 4.94 129 USA Consumer US66989HAF55 19'607'235 2000 / 1000 AA- Aa3 USD 3.700 S Novartis Capital Corp 21.09.42 16.6 87.92 4.44 79 Switzerland Consumer USU7514EAV21 20'145'687 2000 / 1000 AA- A1 USD 4.250 S Swiss Re Treasury (Us) 06.12.42 15.7 89.86 4.91 124 Switzerland Financial

US92857WBD11 20'696'535 1000 A- A3 USD 4.375 S Vodafone Group Plc 19.02.43 15.7 90.20 5.02 134 United Kingdom TMT US037833AL42 21'311'624 2000 / 1000 AA+ Aa1 USD 3.850 S Apple Inc 04.05.43 16.3 85.86 4.74 106 USA TMT US822582AY86 22'099'986 1000 AA Aa1 USD 4.550 S Shell International Fin 12.08.43 16.2 100.18 4.54 84 Netherlands Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. AUD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0586992504 12'407'235 2000 Aa1 AUD 5.750 A Total Capital Canada Ltd 04.02.14 0.4 101.28 2.55 20 France Energy AU3CB0170116 12'479'767 10000 AA+ A1 AUD 6.750 S Ge Cap Australia Funding 18.02.14 0.4 101.65 3.01 67 USA Financial XS0497655687 11'153'710 1000 Aa2 AUD 6.375 A Commonwealth Bank Aust 01.04.14 0.6 102.11 2.55 18 Australia Financial XS0506533404 11'265'117 1000 AAA Aaa AUD 6.000 A Bk Nederlandse Gemeenten 12.05.14 0.7 102.08 2.84 47 Netherlands Financial XS0583174205 12'366'730 1000 A- A3 AUD 6.125 A Coca-Cola Amatil Ltd 30.05.14 0.7 102.22 2.98 60 Australia Consumer XS0482500419 10'944'970 1000 AA- Aa3 AUD 6.250 A Toyota Motor Credit Corp 01.08.14 0.9 102.89 2.95 55 Japan Financial XS0442441522 10'396'716 1000 AA- Aa2 AUD 6.625 A Rabobank Nederland Au 06.08.14 0.9 103.19 3.03 62 Netherlands Financial XS0532191284 11'607'551 2000 Aa1 AUD 5.750 A Total Capital Sa 18.08.14 0.9 102.58 2.95 54 France Energy XS0447814178 10'476'868 5000 AA+ A1 AUD 7.500 A Ge Cap Australia Funding 01.09.14 1.0 104.17 3.15 73 USA Financial XS0674434203 13'765'633 2000 A- A3 AUD 5.250 A Daimler Intl Finance Bv 12.09.14 0.9 102.20 3.02 60 Germany Automaker AU3CB0173342 12'757'618 100000 / 10000 A A2 AUD 7.500 S Lloyds Tsb Bank Plc-Au 01.10.14 1.0 104.72 2.99 58 United Kingdom Financial XS0677831660 13'839'742 2000 AA- Aa2 AUD 4.750 A Rabobank Nederland Au 19.10.14 1.0 101.79 3.09 66 Netherlands Financial AU3CB0162337 11'888'261 1000 A A2 AUD 6.750 S Societe Generale 20.10.14 1.1 103.56 3.48 107 France Financial AU3CB0130649 10'644'310 1000 AAA Aaa AUD 5.500 S Intl Bk Recon & Develop 21.10.14 1.1 103.19 2.60 19 SNAT Sovereign-linked Entity XS0553735076 11'929'594 1000 AA- Aa3 AUD 5.750 A Toyota Motor Credit Corp 03.11.14 1.1 102.98 3.09 65 Japan Financial AU3CB0186260 14'338'149 10000 A- A3 AUD 5.250 S Volkswagen Fin Serv Aust 21.11.14 1.2 103.20 2.55 12 Germany Financial XS0794786367 18'824'077 1000 AA- Aa2 AUD 4.250 A Rabobank Nederland 15.12.14 1.2 101.45 3.07 61 Netherlands Financial XS0569025629 12'149'210 5000 AA+ A1 AUD 7.000 A Ge Cap Australia Funding 22.12.14 1.2 104.79 3.15 69 USA Financial

XS0471990340 10'797'446 2000 AA- Aa1 AUD 6.000 A Total Capital Sa 15.01.15 1.3 103.61 3.23 76 France Energy XS0480598480 10'926'463 1000 AAA Aaa AUD 6.000 A Kfw 29.01.15 1.3 104.26 2.83 37 Germany Financial XS0484443188 10'975'465 1000 NR Aaa AUD 5.875 A Council Of Europe 10.02.15 1.3 104.04 2.94 46 SNAT Sovereign-linked Entity XS0486328585 11'005'128 2000 AA Aa2 AUD 6.125 A Soc Natl Chemins Fer Fra 23.02.15 1.4 104.18 3.15 67 France Transportation XS0754812336 18'109'828 2000 A- A3 AUD 5.500 A Mercedes-Benz Australia 09.03.15 1.4 103.23 3.26 77 Germany Automaker XS0602914896 12'632'742 2000 AA- Aa2 AUD 6.375 A Aust & Nz Banking Group 11.03.15 1.4 104.55 3.23 74 Australia Financial AU3CB0144525 11'104'387 100000 / 1000 AA- Aa3 AUD 6.750 S Hsbc Bank Plc 12.03.15 1.4 105.11 3.28 81 United Kingdom Financial XS0782699366 18'577'477 2000 A- A3 AUD 4.500 A Mercedes-Benz Australia 18.05.15 1.6 101.94 3.30 78 Germany Automaker XS0628828161 13'027'661 2000 AA+ A1 AUD 6.500 A Ge Cap Australia Funding 26.05.15 1.6 104.95 3.47 94 USA Financial AU3CB0176410 13'059'570 200000 / 2000 A- Baa1 AUD 7.250 S Morgan Stanley 26.05.15 1.6 105.34 4.00 150 USA Financial XS0802744754 18'971'064 1000 AA- Aa2 AUD 4.500 A Rabobank Nederland Au 09.07.15 1.7 102.13 3.28 73 Netherlands Financial XS0497789536 11'152'673 1000 AAA Aaa AUD 6.250 A Bk Nederlandse Gemeenten 16.07.15 1.7 105.47 3.17 61 Netherlands Financial XS0525912365 11'519'042 5000 AA+ A1 AUD 7.000 A Ge Cap Australia Funding 16.07.15 1.7 106.01 3.59 103 USA Financial XS0732506760 14'740'195 2000 A A2 AUD 5.500 A Bmw Finance Nv 20.07.15 1.8 104.45 3.01 45 Germany Automaker AU3CB0198463 19'337'883 125000 / 5000 A+ A2 AUD 5.500 S Ing Bank Nv/Sydney 03.09.15 1.9 103.25 3.79 123 Netherlands Financial XS0822605522 19'355'584 2000 A- A3 AUD 4.125 A Mercedes-Benz Australia 04.09.15 1.9 102.55 2.79 21 Germany Automaker XS0755987004 18'126'809 2000 AA- Aa2 AUD 5.625 A Rabobank Nederland Au 14.09.15 1.8 104.03 3.53 92 Netherlands Financial AU3CB0192417 18'310'138 150000 / 10000 A A2 AUD 7.500 S Lloyds Tsb Bank Plc-Au 02.10.15 1.9 107.12 3.89 131 United Kingdom Financial XS0842190612 19'761'926 2000 A- A3 AUD 3.750 A Mercedes-Benz Australia 15.10.15 1.9 100.87 3.32 70 Germany Automaker XS0859549890 20'102'582 2000 A- A3 AUD 4.000 A Mercedes-Benz Australia 07.12.15 2.1 101.19 3.44 78 Germany Automaker

XS0577607533 12'281'959 2000 Aa1 AUD 6.500 A Total Capital Sa 20.01.16 2.1 106.72 3.49 81 France Energy XS0741177595 14'878'997 1000 AA- Aa2 AUD 5.500 A Rabobank Nederland 03.02.16 2.2 104.18 3.65 96 Netherlands Financial AU3CB0170009 12'479'107 1000 AAA Aaa AUD 6.000 S Export Developmnt Canada 18.02.16 2.3 107.29 2.90 23 Canada Sovereign-linked Entity XS0593164519 12'494'122 1000 AA- Aa2 AUD 6.500 A Rabobank Nederland Au 25.02.16 2.2 106.48 3.70 99 Netherlands Financial XS0598237013 12'581'949 100000 / 1000 A- Baa1 AUD 7.625 S Morgan Stanley 03.03.16 2.3 107.45 4.44 176 USA Financial XS0903336310 20'892'474 2000 A- A3 AUD 3.750 A Mercedes-Benz Australia 15.03.16 2.3 100.75 3.43 71 Germany Automaker AU0000XQLQN5 11'246'348 1000 AA+ Aa1 AUD 6.000 S Queensland Treasury Corp 21.04.16 2.4 107.27 3.09 38 Australia Government XS0935031806 21'435'485 2000 A3 AUD 3.500 A Mercedes-Benz Australia 23.05.16 2.5 100.11 3.45 69 Germany Automaker XS0796307998 18'864'093 5000 / 1000 AA- Aa2 AUD 4.625 A National Australia Bank 27.06.16 2.6 103.64 3.24 46 Australia Financial XS0951563120 21'797'792 2000 A- A3 AUD 3.875 A Mercedes-Benz Australia 12.07.16 2.6 100.38 3.73 93 Germany Automaker XS0782582844 18'574'216 1000 AA- Aa2 AUD 5.000 A Rabobank Nederland Au 27.07.16 2.7 103.37 3.74 94 Netherlands Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. AUD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

AU3CB0212660 22'154'348 125000 / 5000 A+ A2 AUD 4.250 S Ing Bank Nv/Sydney 23.08.16 2.8 100.10 4.21 142 Netherlands Financial XS0819413351 19'299'073 2000 A- A3 AUD 4.625 A Volkswagen Intl Fin Nv 24.08.16 2.7 103.19 3.47 65 Germany Automaker XS0831773063 19'549'496 1000 AA+ A1 AUD 4.250 A General Elec Cap Corp 21.09.16 2.7 101.84 3.60 76 USA Financial AU3CB0202760 20'129'616 10000 A- A3 AUD 4.500 S Volkswagen Fin Serv Aust 05.12.16 3.0 101.29 4.07 121 Germany Financial XS0755579223 18'118'618 2000 / 1000 AA- Aa2 AUD 6.000 A Commonwealth Bank Aust 15.12.16 2.9 106.35 3.89 99 Australia Financial

XS0734731283 14'761'861 2000 AA- Aa1 AUD 4.875 A Total Capital Intl Sa 25.01.17 3.0 103.46 3.76 83 France Energy XS0745117167 14'949'905 2000 AA- Aa2 AUD 5.875 A Aust & Nz Banking Group 13.02.17 3.0 105.68 4.06 111 Australia Financial XS0747624095 14'988'343 1000 AA- Aa2 AUD 6.000 A Rabobank Nederland Au 23.02.17 3.0 106.34 4.00 104 Netherlands Financial XS0906046270 209'937'379 1000 AA+ A1 AUD 4.250 A Ge Cap Australia Funding 20.03.17 3.2 101.66 3.74 77 USA Financial XS0912138939 21'055'266 2000 A- A3 AUD 4.125 A Daimler Ag 05.04.17 3.2 101.59 3.64 66 Germany Automaker AU3CB0146660 11'191'238 1000 AAA Aaa AUD 6.500 S Landwirtsch. Rentenbank 12.04.17 3.2 109.73 3.59 65 Germany Financial XS0780192802 18'531'863 1000 A- NR AUD 8.000 S Morgan Stanley 09.05.17 3.1 110.70 4.79 182 USA Financial XS0797449641 18'870'609 2000 AA- Aa1 AUD 4.125 A Total Capital Intl Sa 26.06.17 3.4 100.93 3.85 82 France Energy AU3CB0195964 18'896'602 10000 A- A3 AUD 5.000 S Volkswagen Fin Serv Aust 27.06.17 3.4 102.62 4.24 125 Germany Financial XS0800948175 18'933'040 2000 AA- Aa3 AUD 4.375 A Toyota Motor Credit Corp 05.07.17 3.5 101.37 3.98 94 Japan Financial XS0805537064 19'034'442 2000 AA- Aa2 AUD 5.000 A Aust & Nz Banking Group 25.07.17 3.5 102.71 4.23 117 Australia Financial XS0813516274 19'183'723 2000 / 1000 AA- Aa2 AUD 5.000 A National Australia Bank 08.08.17 3.5 103.13 4.12 105 Australia Financial AU3CB0197572 19'154'339 1000 AAA Aaa AUD 3.250 S Export Developmnt Canada 08.08.17 3.6 99.04 3.51 49 Canada Sovereign-linked Entity AU0000KFWHV4 19'185'969 1000 AAA Aaa AUD 3.750 S Kfw 10.08.17 3.6 100.43 3.63 61 Germany Financial AU3CB0198240 19'303'877 10000 AA+ A1 AUD 5.250 S  Ge Cap Australia Funding 23.08.17 3.6 103.54 4.27 123 USA Financial AU3CB0198760 19'381'784 125000 / 5000 A A2 AUD 4.500 S Bp Capital Markets Plc 05.09.17 3.6 100.72 4.30 126 United Kingdom Energy XS0803499044 18'986'998 2000 / 1000 Aa2 AUD 4.000 A Nestle Holdings Inc 13.10.17 3.6 101.58 3.58 48 Switzerland Consumer AU3CB0201366 19'921'085 10000 A A2 AUD 4.650 S Jpmorgan Chase & Co 07.11.17 3.7 100.81 4.43 135 USA Financial AU3CB0201820 19'987'234 200000 / 1000 AA- Aa2 AUD 4.250 S Hsbc Ltd/Sydney 16.11.17 3.8 100.36 4.16 106 United Kingdom Financial AU3FN0017257 19'985'992 200000 / 1000 AA- Aa2 AUD 3.622 Q Hsbc Ltd, Sydney Branch 16.11.17 0.2 100.82 4.24 United Kingdom Financial AU3CB0202216 20'044'741 10000 A A2 AUD 4.250 S Abb Finance Australia 22.11.17 3.8 100.32 4.17 107 Switzerland Industrial

XS0873667744 20'409'469 2000 A A2 AUD 4.625 A Abn Amro Bank Nv 15.01.18 3.8 100.14 4.58 140 Netherlands Financial XS0875034703 20'423'369 1000 AA- Aa2 AUD 4.250 A Rabobank Nederland 22.01.18 3.8 100.54 4.11 93 Netherlands Financial XS0866313264 20'249'220 2000 A+ Aa3 AUD 4.250 A Canadian Imperial Bank 24.01.18 3.8 99.90 4.27 109 Canada Financial AU3CB0204691 20'524'546 10000 AA+ A1 AUD 4.500 S Ge Cap Australia Funding 30.01.18 3.9 100.84 4.29 115 USA Financial AU3CB0204808 20'549'624 100000 A- AUD 4.750 S Citigroup Inc 05.02.18 3.9 100.32 4.67 152 USA Financial AU0000ATBHH9 12'486'506 1000 AAA Aaa AUD 6.000 S Asian Development Bank 22.02.18 3.9 109.57 3.66 50 SNAT Sovereign-linked Entity XS0819243097 19'303'643 1000 A- Baa1 AUD 7.375 A Morgan Stanley 22.02.18 3.7 109.36 4.97 176 USA Financial AU0000KFWHQ4 12'540'469 1000 AAA Aaa AUD 6.250 S Kfw 23.02.18 3.9 110.04 3.78 63 Germany Financial XS0914258586 210'865'885 2000 A A2 AUD 4.625 A Abn Amro Bank Nv 10.04.18 4.0 99.57 4.72 149 Netherlands Financial XS0937583580 21'470'973 2000 / 1000 A+ A2 AUD 4.500 A Ing Bank Nv/Sydney 04.06.18 4.1 99.55 4.60 135 Netherlands Financial AU3CB0208775 21'413'654 10000 A- Baa2 AUD 4.500 S Bank Of America Corp 23.08.18 4.4 99.50 4.61 137 USA Financial XS0942787911 21'579'221 1000 AA- Aa2 AUD 4.125 A Rabobank Nederland Au 19.09.18 4.4 98.38 4.48 117 Netherlands Financial XS0932235194 21'372'840 1000 A- Baa1 AUD 4.750 S Morgan Stanley 16.11.18 4.5 99.56 4.84 155 USA Financial

XS0904123535 20'905'829 2000 A A2 AUD 5.000 A Abn Amro Bank Nv 21.03.19 4.6 100.55 4.88 146 Netherlands Financial XS0916739328 21'135'658 2000 AA- Aa2 AUD 4.375 A Westpac Banking Corp 16.04.19 4.8 99.66 4.44 102 Australia Financial XS0947397302 21'698'377 2000 A A3 AUD 4.250 A Linde Finance Bv 20.06.19 5.0 99.94 4.26 81 Germany Basic Materials AU0000XQLQW6 19'191'082 1000 AA+ Aa1 AUD 4.000 S Queensland Treasury Corp 21.06.19 5.1 99.72 4.05 65 Australia Government XS0953132999 21'868'913 2000 A2 AUD 5.250 A Abn Amro Bank Nv 23.07.19 4.9 100.26 5.19 170 Netherlands Financial XS0953725115 21'893'013 2000 Aa3 AUD 4.750 A Canadian Imperial Bank 25.07.19 5.0 99.17 4.91 143 Canada Financial XS0954928601 21'927'283 2000 AA- Aa2 AUD 4.750 A Aust & Nz Banking Group 06.08.19 5.0 100.02 4.74 126 Australia Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. AUD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

AU3CB0122448 10'421'569 1000 AAA Aaa AUD 6.500 S European Investment Bank 07.08.19 4.9 110.04 4.55 111 SNAT Sovereign-linked Entity AU0000KFWHN1 10'781'534 1000 AAA Aaa AUD 6.250 S Kfw 04.12.19 5.1 110.49 4.31 82 Germany Financial

AU3CB0206134 20'839'812 100000 A- A3 AUD 4.750 S Wesfarmers Ltd 12.03.20 5.5 98.09 5.10 155 Australia Consumer AU0000IFXHD4 11'563'183 1000 AAA Aaa AUD 5.750 S Intl Finance Corp 28.07.20 5.7 108.46 4.32 71 SNAT Sovereign-linked Entity AU3CB0160695 11'796'389 5000 AA- AUD 6.250 S Ontario (Province Of) 29.09.20 5.6 108.78 4.77 114 Canada Sovereign-linked Entity

AU3CB0212868 22'188'291 10000 AA- A1 AUD 5.750 S Transpower New Zealand L 28.08.23 7.5 100.23 5.72 174 New Zealand Utilities

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. NZD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0484532790 10'976'088 1000 AAA Aaa NZD 5.375 A Kfw 12.02.14 0.4 101.23 2.46 -5 Germany Financial XS0529512591 11'569'760 1000 AA- Aa2 NZD 5.250 A Rabobank Nederland Au 05.08.14 0.9 101.75 3.27 55 Netherlands Financial XS0199842906 1'935'410 1000 AAA Aaa NZD 6.500 A European Investment Bank 10.09.14 0.9 103.35 3.09 34 SNAT Sovereign-linked Entity XS0455309061 10'602'757 1000 AAA Aaa NZD 5.500 A Kfw 07.10.14 1.0 103.51 2.19 -58 Germany Financial XS0554697689 11'942'661 2000 / 1000 AA- Aa2 NZD 5.250 A Commonwealth Bank Aust 10.11.14 1.1 102.11 3.39 56 Australia Financial XS0492305593 11'085'524 1000 AAA Aaa NZD 5.500 A Bk Nederlandse Gemeenten 05.12.14 1.2 102.64 3.30 45 Netherlands Financial XS0297663477 3'066'629 5000 AA+ A1 NZD 7.625 S General Elec Cap Corp 10.12.14 1.2 104.84 3.66 83 USA Financial

XS0583773337 12'371'219 1000 AA- Aa2 NZD 5.375 A Aust & Nz Banking Group 02.02.15 1.3 102.47 3.53 62 Australia Financial

NZKBNDT005C4 18'436'139 3000 / 1000 AAA Aaa NZD 4.250 S Kommunalbanken As 02.05.17 3.3 99.23 4.48 86 Norway Sovereign-linked Entity XS0299261403 3'080'553 2000 AAA Aaa NZD 7.000 A Landwirtsch. Rentenbank 10.05.17 3.2 108.27 4.50 83 Germany Financial NZIFCDT005C7 19'330'777 5000 / 1000 AAA Aaa NZD 3.500 S Intl Finance Corp 05.09.17 3.7 96.97 4.33 61 SNAT Sovereign-linked Entity

XS0896428843 20'785'623 1000 AA- Aa2 NZD 4.625 A Rabobank Nederland Au 28.02.19 4.6 96.70 5.33 118 Netherlands Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. CAD BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0731408547 14'714'558 2000 A- A3 CAD 2.500 A Daimler Canada Finance 23.01.14 0.4 100.52 1.11 11 Germany Automaker XS0740794580 14'867'877 1000 AA- Aa2 CAD 2.125 A Rabobank Nederland 10.02.14 0.4 100.32 1.36 35 Netherlands Financial XS0595252809 12'534'810 1000 AA- Aa2 CAD 2.750 A Rabobank Nederland 03.03.14 0.5 100.70 1.31 29 Netherlands Financial CA13509PBS17 10'052'136 5000 AAA Aaa CAD 2.200 S Canada Housing Trust 15.03.14 0.5 100.59 1.08 6 Canada Sovereign-linked Entity XS0788624244 18'700'143 2000 A- A3 CAD 2.000 A Volkswagen Fin Serv Nv 30.05.14 0.7 100.41 1.43 38 Germany Automaker XS0197261935 1'910'671 2000 A+ Aa2 CAD 5.125 A Province Of Quebec 03.06.14 0.7 102.89 1.18 13 Canada Sovereign-linked Entity CA13509PBW29 10'283'664 5000 AAA Aaa CAD 3.150 S Canada Housing Trust 15.06.14 0.8 101.59 1.09 3 Canada Sovereign-linked Entity XS0447430199 10'467'647 1000 AAA Aaa CAD 2.875 A Kfw 26.08.14 1.0 101.55 1.26 17 Germany Financial CA13509PBZ59 10'577'846 5000 AAA Aaa CAD 2.750 S Canada Housing Trust 15.09.14 1.0 101.65 1.14 4 Canada Sovereign-linked Entity XS0548635605 11'853'034 1000 AAA Aaa CAD 1.750 A Kfw 20.10.14 1.1 100.46 1.33 22 Germany Financial

CA052528AE67 10'918'419 100000 / 1000 Aa2 CAD 3.750 S Aust & Nz Banking Group 22.01.15 1.3 102.86 1.64 51 Australia Financial XS0741981806 14'893'412 2000 A- A3 CAD 2.500 A Volkswagen Fin Serv Nv 06.02.15 1.4 101.60 1.35 21 Germany Automaker XS0589953123 12'437'810 1000 AA- Aa2 CAD 3.125 A Aust & Nz Banking Group 10.02.15 1.4 101.96 1.73 58 Australia Financial CA459058CN10 18'463'786 1000 AAA Aaa CAD 1.700 S Intl Bk Recon & Develop 30.04.15 1.6 100.56 1.35 20 SNAT Sovereign-linked Entity XS0620348820 12'902'091 5000 / 1000 AA- Aa2 CAD 3.250 A Commonwealth Bank Aust 05.05.15 1.6 102.65 1.62 46 Australia Financial XS0219274908 2'148'354 1000 AAA Aaa CAD 4.375 A Bk Nederlandse Gemeenten 13.05.15 1.6 104.85 1.44 27 Netherlands Financial XS0784824194 18'620'887 2000 A- A3 CAD 2.500 A Daimler Ag 03.06.15 1.7 101.36 1.70 53 Germany Automaker CA13509PCJ09 11'445'906 5000 AAA Aaa CAD 3.150 S Canada Housing Trust 15.06.15 1.7 103.26 1.29 12 Canada Sovereign-linked Entity XS0816711252 19'246'012 2000 A- A3 CAD 2.250 A Volkswagen Intl Fin Nv 17.08.15 1.9 100.91 1.77 57 Germany Automaker XS0858468415 20'085'542 2000 A- A3 CAD 2.000 A  Daimler Ag 27.11.15 2.1 100.41 1.81 54 Germany Automaker

XS0577454951 12'281'922 1000 AAA Aaa CAD 3.000 A Bk Nederlandse Gemeenten 20.01.16 2.3 102.79 1.79 48 Netherlands Financial CA6174467Q64 12'428'341 100000 / 1000 A- Baa1 CAD 4.850 S Morgan Stanley 03.02.16 2.3 104.84 2.76 145 USA Financial XS0752832617 18'078'123 1000 AA- Aa2 CAD 2.500 A Rabobank Nederland 02.03.16 2.4 101.23 1.98 65 Netherlands Financial XS0773207336 18'382'411 1000 Aa3 CAD 2.250 A Toyota Credit Canada Inc 19.04.16 2.5 101.26 1.75 39 Japan Automaker CA13509PCT80 12'734'383 5000 AAA Aaa CAD 2.750 S Canada Housing Trust 15.06.16 2.7 103.15 1.58 19 Canada Sovereign-linked Entity XS0813456273 19'182'407 2000 AA+ Aa1 CAD 2.000 A Swedish Export Credit 10.08.16 2.8 100.50 1.82 38 Sweden Financial XS0841417719 19'743'291 1000 AA- Aa2 CAD 2.125 A Rabobank Nederland 17.10.16 2.9 99.79 2.20 69 Netherlands Financial CA13509PCZ41 13'937'767 5000 AAA Aaa CAD 1.850 S Canada Housing Trust 15.12.16 3.2 100.29 1.76 22 Canada Sovereign-linked Entity

XS0748483467 18'004'089 1000 AAA Aaa CAD 2.000 A Kfw 21.02.17 3.3 100.22 1.93 33 Germany Financial XS0906883839 20'955'605 2000 A- A3 CAD 2.125 A Daimler Ag 03.04.17 3.4 99.16 2.37 73 Germany Automaker XS0912081998 21'055'449 2000 A- A3 CAD 2.125 A Volkswagen Fin Serv Nv 05.04.17 3.4 99.22 2.35 71 Germany Automaker XS0804642311 19'009'102 1000 AAA Aaa CAD 2.375 A Bk Nederlandse Gemeenten 24.07.17 3.7 100.79 2.16 43 Netherlands Financial XS0854584694 19'997'550 1000 AA- Aa2 CAD 2.250 A Rabobank Nederland 20.11.17 3.9 99.15 2.46 66 Netherlands Financial XS0861827268 20'136'587 2000 AA- Aa1 CAD 2.000 A Total Capital Intl Sa 07.12.17 4.0 99.40 2.15 34 France Energy

XS0875625062 20'434'768 1000 AAA Aaa CAD 2.125 A Neder Waterschapsbank 22.01.18 4.1 98.69 2.44 60 Netherlands Financial XS0876782615 20'465'471 2000 A A2 CAD 2.750 A Abn Amro Bank Nv 25.01.18 4.0 98.96 3.00 116 Netherlands Financial XS0945074051 21'630'110 1000 AA- Aa2 CAD 2.625 A Rabobank Nederland 25.06.18 4.4 99.15 2.82 89 Netherlands Financial CA13509PBN20 4'857'937 5000 AAA Aaa CAD 4.100 S Canada Housing Trust 15.12.18 4.7 108.72 2.33 34 Canada Sovereign-linked Entity

CA13509PCA99 10'761'960 5000 AAA Aaa CAD 3.750 S Canada Housing Trust 15.03.20 5.7 107.06 2.57 36 Canada Sovereign-linked Entity CA202712BD64 11'201'661 150000 / 1000 Aa2 CAD 5.150 S Commonwealth Bank Aust 09.04.20 5.5 109.39 3.54 132 Australia Financial

CA86682ZAD83 13'692'812 1000 A CAD 4.570 S Sun Life Financial Inc 23.08.21 6.7 106.35 3.64 124 Canada Financial

CA05545FAA53 21'383'793 150000 / 1000 A+ A1 CAD 3.230 S Bhp Billiton Finance Ltd 15.05.23 8.1 92.97 4.12 151 Australia Basic Materials

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. GBP BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0409119871 4'974'523 50000 A- A3 GBP 5.125 A E.On Intl Finance Bv 27.01.14 0.4 101.63 0.96 70 Germany Utilities XS0411057713 1'027'687 50000 / 1000 A- A3 GBP 5.750 A Sse Plc 05.02.14 0.4 101.96 1.03 77 United Kingdom Utilities XS0592437726 12'483'360 100000 / 1000 AAA Aa1 GBP 2.500 A Network Rail Infra Fin 07.03.14 0.5 100.99 0.51 23 United Kingdom Transportation XS0783260853 18'588'571 1000 A- A3 GBP 1.750 A Daimler Intl Finance Bv 21.05.14 0.7 100.46 1.08 77 Germany Automaker XS0434592449 10'271'844 50000 / 1000 A A2 GBP 5.500 S Abbey Natl Treasury Serv 18.06.14 0.8 103.37 1.17 84 Spain Financial XS0439121194 10'331'003 50000 / 1000 A+ A1 GBP 6.625 A Skandinaviska Enskilda 09.07.14 0.8 104.82 0.84 50 Sweden Financial XS0423205524 10'099'034 1000 AAA Aaa GBP 3.375 A European Investment Bank 08.09.14 1.0 102.80 0.58 20 SNAT Sovereign-linked Entity XS0229306138 2'268'617 50000 / 1000 A- A3 GBP 4.625 A Vodafone Group Plc 08.09.14 1.0 103.52 1.10 72 United Kingdom TMT XS0455318567 10'602'998 50000 A- A2 GBP 5.375 A Amer Express Credit Co 01.10.14 1.0 104.47 1.15 76 USA Financial XS0459048657 10'669'100 50000 / 1000 A+ A1 GBP 5.125 A Suncorp-Metway Ltd 27.10.14 1.1 104.05 1.52 113 Australia Financial XS0775390189 18'433'954 100000 AAA Aaa GBP 1.375 A Fms Wertmanagement 08.12.14 1.2 100.91 0.64 25 Germany #N/A XS0479413931 10'911'056 1000 AAA Aaa GBP 3.125 A Kfw 08.12.14 1.2 103.20 0.57 17 Germany Financial XS0416397098 4'749'253 50000 / 1000 A- A3 GBP 5.125 A Centrica Plc 10.12.14 1.2 105.08 1.05 65 United Kingdom Energy XS0191374817 1'844'891 1000 AA+ A1 GBP 5.625 A Ge Capital Uk Funding 12.12.14 1.2 105.80 1.00 60 USA Industrial XS0191960896 1'852'203 1000 A- Baa2 GBP 5.750 A Merrill Lynch & Co 12.12.14 1.2 105.57 1.29 89 USA Financial XS0732930226 14'740'513 1000 A- A3 GBP 2.125 S Volkswagen Intl Fin Nv 19.12.14 1.3 101.23 1.16 77 Germany Automaker XS0418570130 10'037'779 2000 / 1000 A+ A1 GBP 4.000 A Unilever Plc 19.12.14 1.2 104.12 0.77 37 United Kingdom Consumer XS0436300247 10'294'570 1000 A A2 GBP 4.000 A Bp Capital Markets Plc 29.12.14 1.3 103.84 1.04 64 United Kingdom Energy

XS0213823619 2'080'496 1000 AA+ A1 GBP 5.125 A Ge Capital Uk Funding 03.03.15 1.4 105.89 1.11 70 USA Industrial XS0451037062 10'526'381 1000 AA- Aa2 GBP 4.000 A Rabobank Nederland 10.09.15 1.9 105.24 1.34 89 Netherlands Financial XS0236338504 2'345'700 50000 / 1000 A- Baa1 GBP 5.125 A Morgan Stanley 30.11.15 2.1 107.09 1.86 132 USA Financial XS0502022758 11'210'123 50000 / 1000 AA- Aa2 GBP 3.875 A Commonwealth Bank Aust 14.12.15 2.1 105.93 1.22 67 Australia Financial XS0503464801 11'225'336 50000 / 1000 AA- Aa3 GBP 3.875 A Nordea Bank Ab 15.12.15 2.1 105.85 1.25 71 Sweden Financial XS0503530874 11'225'406 50000 A A2 GBP 3.875 A  Societe Generale 17.12.15 2.1 105.03 1.61 106 France Financial

XS0241042141 2'406'447 1000 AA+ A1 GBP 4.625 A Ge Capital Uk Funding 18.01.16 2.2 106.69 1.72 114 USA Industrial XS0427529325 10'162'769 50000 / 1000 BBB+ A3 GBP 5.000 A Orange Sa 12.05.16 2.5 108.17 1.85 115 France TMT XS0429682429 10'197'966 50000 / 1000 AA- Aa3 GBP 5.500 A Svenska Handelsbanken Ab 26.05.16 2.5 110.58 1.50 80 Sweden Financial XS0440316635 10'362'856 1000 A A2 GBP 6.375 A Ubs Ag London 20.07.16 2.7 113.04 1.68 93 Switzerland Financial XS0433107041 10'251'307 1000 AAA Aaa GBP 3.750 A Kfw 07.09.16 2.8 108.05 1.02 22 Germany Financial XS0247309569 2'478'048 50000 / 1000 A- A3 GBP 5.500 A Bat Holdings Bv 15.09.16 2.7 111.25 1.66 85 United Kingdom Consumer XS0604804194 12'747'487 1000 / 100 A A2 GBP 5.500 S Lloyds Tsb Bank Plc 25.09.16 2.8 110.65 1.90 108 United Kingdom Financial XS0471076876 10'781'681 50000 / 1000 A- Baa1u GBP 5.125 A Wales & West Utl Fin Plc 02.12.16 2.9 110.67 1.71 79 United Kingdom Energy

XS0140144204 1'338'632 1000 NR A3 GBP 6.000 A Safeway Ltd 10.01.17 3.0 112.18 2.18 121 United Kingdom Consumer XS0420401779 10'064'740 50000 A+ A1 GBP 5.875 A Basf Se 31.03.17 3.2 114.91 1.54 47 Germany Basic Materials XS0541558085 11'736'781 50000 / 1000 A A2 GBP 4.125 A Abbey Natl Treasury Serv 14.09.17 3.6 106.60 2.39 109 United Kingdom Financial XS0544837676 11'788'096 2000 AA+ A1 GBP 4.125 A Ge Capital Uk Funding 28.09.17 3.6 107.32 2.22 91 USA Financial XS0455542521 10'608'898 1000 A A2 GBP 5.000 A Bmw (Uk) Capital Plc 02.10.17 3.6 112.57 1.77 47 Germany Automaker XS0554658947 11'942'856 1000 AA- Aa2 GBP 3.250 A Rabobank Nederland 01.11.17 3.8 104.78 2.04 70 Netherlands Financial XS0595707570 12'546'301 1000 AA- Aa3 GBP 4.000 A Toyota Motor Credit Corp 07.12.17 3.8 109.51 1.67 29 Japan Financial XS0430265693 10'204'456 1000 AA- Aa1 GBP 4.250 A Total Capital Sa 08.12.17 3.8 110.56 1.66 28 France Energy

XS0343698790 3'728'618 1000 AAA Aaa GBP 4.875 A Kfw 01.02.18 3.9 114.28 1.50 7 Germany Financial XS0357891208 3'947'004 50000 / 1000 A A2 GBP 6.625 A Ubs Ag London 11.04.18 4.0 118.45 2.34 83 Switzerland Financial XS0361197725 3'987'887 50000 A- Baa2 GBP 7.750 A Merrill Lynch & Co 30.04.18 3.9 121.41 2.77 123 USA Financial XS0381559979 4'467'814 1000 AA+ A1 GBP 6.750 A Ge Capital Uk Funding 06.08.18 4.3 118.70 2.64 101 USA Financial XS0388021270 4'569'761 50000 / 1000 A A3 GBP 6.625 S Royal Bk Of Scotland Plc 17.09.18 4.2 117.46 2.87 123 United Kingdom Financial XS0454509455 10'586'534 50000 / 1000 A- A3 GBP 5.000 A Sse Plc 01.10.18 4.4 112.69 2.32 65 United Kingdom Utilities XS0585243289 12'388'127 100000 / 1000 A- Baa1 GBP 4.750 A Experian Finance Plc 23.11.18 4.5 110.54 2.56 86 United Kingdom Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. GBP BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0400780960 4'846'257 50000 / 1000 A- A3 GBP 8.125 A Vodafone Group Plc 26.11.18 4.2 127.11 2.52 81 United Kingdom TMT XS0604380724 12'649'745 100000 / 1000 A A2 GBP 4.325 A Bp Capital Markets Plc 10.12.18 4.6 109.88 2.31 59 United Kingdom Energy XS0578264870 12'292'256 1000 AA- Aa1 GBP 3.875 A Total Capital Sa 14.12.18 4.7 108.65 2.12 41 France Energy XS0739933421 14'857'937 1000 A A2 GBP 3.375 A Bmw Finance Nv 14.12.18 4.7 105.47 2.26 54 Germany Automaker

XS0426014899 10'145'294 50000 / 1000 A A3 GBP 6.750 A Rolls-Royce Plc 30.04.19 4.8 122.02 2.52 70 United Kingdom Industrial XS0741965940 14'890'344 1000 A- A3 GBP 3.500 A Daimler Intl Finance Bv 06.06.19 5.1 104.68 2.61 77 Germany Automaker XS0740772420 14'868'848 2000 AA+ A1 GBP 4.375 A Ge Capital Uk Funding 31.07.19 5.2 107.41 2.99 110 USA Financial XS0458569927 10'663'810 50000 / 1000 AA- Aa2 GBP 5.000 A Westpac Banking Corp 21.10.19 5.1 112.40 2.77 83 Australia Financial XS0856595961 20'035'318 1000 A+ A2 GBP 2.375 A Bnp Paribas 20.11.19 5.6 97.99 2.73 77 France Financial

XS0463588052 10'699'607 2000 AA+ A1 GBP 5.875 A Ge Capital Uk Funding 04.11.20 5.7 115.85 3.35 113 USA Financial

XS0618011463 12'871'540 100000 / 1000 A+ A2 GBP 5.375 A Ing Bank Nv 15.04.21 6.2 112.41 3.49 116 Netherlands Financial XS0677073206 13'818'835 100000 / 1000 A- A3 GBP 4.250 A Sse Plc 14.09.21 6.5 106.43 3.32 90 United Kingdom Utilities XS0453820366 10'580'346 50000 A- Baa2 GBP 6.125 S Bank Of America Corp 15.09.21 6.3 116.56 3.72 132 USA Financial XS0472503589 10'802'062 50000 / 1000 AA- Aa2 GBP 5.125 A National Australia Bank 09.12.21 6.6 112.40 3.38 89 Australia Financial XS0583495188 12'366'836 100000 / 1000 A A2 GBP 5.500 A Credit Agricole London 17.12.21 6.5 112.67 3.69 120 France Financial

XS0813371100 19'182'638 100000 / 1000 AA+ Aa2 GBP 2.250 A Transport For London 09.08.22 7.9 93.89 3.04 38 United Kingdom Transportation XS0758779192 18'170'688 1000 AA- Aa2 GBP 4.000 A Rabobank Nederland 19.09.22 7.2 102.49 3.67 97 Netherlands Financial XS0849673602 19'894'869 100000 / 1000 A- A1 GBP 2.500 S Pepsico Inc 01.11.22 8.0 94.19 3.24 55 USA Consumer XS0860538379 20'122'951 100000 / 1000 AA- Aa3 GBP 2.750 A Svenska Handelsbanken Ab 05.12.22 7.8 94.39 3.47 73 Sweden Financial

XS0873675846 20'414'735 100000 / 1000 AA- Aa3 GBP 2.875 S Met Life Glob Funding I 11.01.23 8.1 95.73 3.41 69 USA Financial

XS0875301912 20'434'044 100000 / 1000 BBB+ A3 GBP 3.625 A Severn Trent Water Util 16.01.26 9.5 96.46 3.99 92 United Kingdom Utilities XS0944831154 21'630'114 100000 / 1000 A A3 GBP 3.375 A Rolls-Royce Plc 18.06.26 10.1 96.17 3.76 65 United Kingdom Industrial XS0866897829 20'260'615 100000 / 1000 A A2 GBP 3.500 S Jpmorgan Chase & Co 18.12.26 10.4 94.85 4.00 89 USA Financial

XS0866588527 20'250'762 100000 / 1000 A+ A1 GBP 3.375 A Glaxosmithkline Capital 20.12.27 10.7 92.49 4.08 84 United Kingdom Consumer

XS0753789980 18'094'567 100000 / 1000 A- A3 GBP 4.375 A Centrica Plc 13.03.29 10.9 101.75 4.22 92 United Kingdom Energy XS0828013838 19'441'343 100000 / 1000 A+ A2 GBP 3.500 S Wells Fargo & Company 12.09.29 11.7 91.80 4.21 93 USA Financial XS0863076930 20'185'553 100000 / 1000 A- A3 GBP 4.000 A Rio Tinto Finance Plc 11.12.29 11.3 94.66 4.47 113 United Kingdom Basic Materials

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. CHF BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

CH0023686576 2'368'657 5000 A A2 CHF 2.250 A Credit Agricole (London) 13.01.14 0.4 100.78 0.04 0 France Financial CH0109156007 10'915'600 5000 A1 CHF 2.000 A General Elec Cap Corp 18.02.14 0.5 101.03 -0.26 -34 USA Financial CH0028813316 2'881'331 5000 AA- Aa3 CHF 2.750 A Toyota Motor Credit Corp 21.02.14 0.5 101.41 -0.30 -37 Japan Automaker CH0030548793 3'054'879 5000 AA- Aa3 CHF 2.875 A Royal Bank Of Canada 30.04.14 0.7 102.05 -0.26 -28 Canada Financial CH0030728833 3'072'883 5000 A- Baa1 CHF 3.125 A Morgan Stanley 30.05.14 0.7 102.06 0.32 32 USA Financial CH0101997309 10'199'730 5000 A A3 CHF 4.500 A Brandbrew Sa 11.06.14 0.8 103.44 0.02 3 Belgium Consumer CH0049987727 4'998'772 5000 AA Aa2 CHF 2.125 A Nestle Finance Intl Ltd 12.08.14 0.9 102.26 -0.28 -20 Switzerland Consumer CH0118594271 11'859'427 5000 A3 CHF 2.250 A Kbc Ifima Nv 04.11.14 1.1 102.41 0.18 33 Belgium Financial CH0105004078 10'500'407 5000 AA- Aa2 CHF 2.250 A National Australia Bank 02.12.14 1.2 102.83 -0.03 12 Australia Financial CH0035317616 3'531'761 5000 BBB+ A3 CHF 3.500 A Orange Sa 04.12.14 1.2 103.95 0.32 47 France TMT CH0035434866 354'386 5000 AA+ A1 CHF 3.375 A General Elec Cap Corp 05.12.14 1.2 104.18 0.03 18 USA Industrial CH0110411524 11'041'152 5000 AA- Aa3 CHF 2.000 A Anz New Zealand Intl/Ldn 16.12.14 1.3 102.50 0.05 20 Australia Financial CH0035907895 3'590'789 5000 A- A3 CHF 3.250 A E.On Intl Finance Bv 17.12.14 1.3 104.21 -0.03 12 Germany Utilities

CH0109648144 10'964'814 5000 A A1 CHF 2.125 A Credit Suisse London 05.02.15 1.4 102.68 0.23 37 Switzerland Financial CH0037423826 3'742'382 5000 A A2 CHF 3.625 A Bmw Us Capital Llc 04.03.15 1.5 105.37 0.04 17 Germany Automaker CH0020643760 2'064'376 5000 AAA Aaa CHF 2.375 A Caisse Francaise De Fin 11.03.15 1.5 103.45 0.10 23 France Financial CH0110741052 11'074'105 5000 A A2 CHF 2.000 A Credit Agricole (London) 08.04.15 1.6 102.62 0.35 47 France Financial CH0042308780 4'230'878 5000 AA- Aa3 CHF 3.625 A Ibm Corp 27.05.15 1.7 105.93 0.18 30 USA TMT CH0130164624 13'016'462 5000 A A2 CHF 2.500 A Abbey Natl Treasury Serv 08.06.15 1.7 103.66 0.41 52 Spain Financial CH0031026476 3'102'647 5000 AA+ A1 CHF 3.000 A General Elec Cap Corp 15.06.15 1.7 104.91 0.23 34 USA Industrial CH0113927575 11'392'757 5000 A A2 CHF 2.125 A Bmw (Uk) Capital Plc 29.06.15 1.8 103.62 0.13 24 Germany Automaker CH0102834923 10'283'492 5000 A+ CHF 3.125 A Adp 15.07.15 1.8 105.12 0.36 46 France Industrial CH0103193311 10'319'331 5000 A CHF 3.875 A Wuerth Finance Intl Bv 03.08.15 1.9 106.66 0.37 47 Germany Consumer CH0031320507 3'132'050 5000 AA- Aa1 CHF 3.125 A Total Capital Sa 29.09.15 2.0 106.13 0.15 23 France Energy CH0117124179 11'712'417 5000 A A3 CHF 2.750 A Royal Bk Of Scotland Plc 08.10.15 2.0 104.30 0.67 75 United Kingdom Financial CH0128250500 12'825'050 5000 A+ Aa3 CHF 2.125 A Lgt Finance Limited 25.11.15 2.2 103.88 0.37 43 Liechtenstein Financial CH0100786125 10'078'612 5000 AA+ Aa1 CHF 2.625 A Swedish Export Credit 28.12.15 2.2 105.66 0.17 22 Sweden Financial

CH0023743740 2'374'374 5000 AA- Aa1 CHF 2.375 A Total Capital Sa 13.01.16 2.3 105.15 0.18 23 France Energy CH0108870020 10'887'002 5000 A1 CHF 2.625 A General Elec Cap Corp 20.01.16 2.3 105.51 0.29 34 USA Financial CH0122489104 12'248'910 5000 A A2 CHF 2.375 A Abn Amro Bank Nv 02.02.16 2.3 104.42 0.52 56 Netherlands Financial CH0112134751 11'213'475 5000 Aa3 CHF 2.250 A Nordea Bank Ab 06.05.16 2.6 105.15 0.31 32 Sweden Financial CH0025368751 2'536'875 5000 A A2 CHF 3.000 A Bank Of Scotland Plc 26.05.16 2.6 106.94 0.43 44 United Kingdom Financial CH0101589361 10'158'936 5000 AA- Aa2 CHF 3.000 A Rabobank Nederland 10.06.16 2.7 107.36 0.32 32 Netherlands Financial CH0113643818 11'364'381 5000 A A2 CHF 1.875 A Mcdonald'S Corp 23.06.16 2.7 104.39 0.30 29 USA Consumer CH0112262982 11'226'298 5000 AA- Aa2 CHF 2.000 A Aust & Nz Banking Group 08.07.16 2.8 104.56 0.39 37 Australia Financial CH0116055317 11'605'531 5000 AA- Aa3 CHF 1.875 A Hsbc Bank Plc 01.09.16 2.9 104.26 0.44 41 United Kingdom Financial CH0026734449 2'673'444 5000 AA- Aa3 CHF 2.875 A Toyota Motor Credit Corp 20.09.16 2.9 107.82 0.29 26 Japan Automaker CH0193819585 19'381'958 5000 A+ NR CHF 1.750 A Nykredit Bank A/S 26.09.16 2.9 104.00 0.43 40 Denmark Financial CH0194215650 19'421'565 5000 A- A3 CHF 2.500 A Black Sea Trade And Deve 04.10.16 2.9 101.97 1.84 180 SNAT Sovereign-linked Entity CH0118178620 11'817'862 5000 A+ A2 CHF 2.125 A Ing Bank Nv 07.10.16 3.0 104.68 0.59 55 Netherlands Financial CH0139264961 13'926'496 5000 A A2 CHF 1.250 A Abb Ltd 11.10.16 3.0 102.60 0.40 36 Switzerland Industrial CH0140244770 13'937'767 5000 BBB+ A3 CHF 1.625 A Orange Sa 13.10.16 3.0 102.92 0.67 63 France TMT CH0119172978 11'917'297 5000 Aa3 CHF 2.125 A Asb Finance Ltd London 17.11.16 3.1 105.32 0.45 39 Australia Financial CH0133273877 13'327'387 5000 AA- Aa2 CHF 2.000 A Westpac Banking Corp 15.12.16 3.2 105.15 0.42 34 Australia Financial CH0122489096 12'248'909 5000 AA+ A1 CHF 2.250 A General Elec Cap Corp 19.12.16 3.1 105.78 0.48 40 USA Financial CH0205170555 20'517'055 5000 Baa3u CHF 3.000 A Nibc Bank Nv 19.12.16 3.1 101.78 2.43 236 USA Financial CH0117441565 11'744'156 5000 A- Baa2 CHF 3.000 A Bank Of America Corp 23.12.16 3.1 107.06 0.82 75 USA Financial

CH0122644567 12'264'456 5000 Aa2 CHF 2.125 A National Australia Bank 03.02.17 3.3 105.64 0.46 36 Australia Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. CHF BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

CH0140939940 14'093'994 5000 AA- Aa3 CHF 2.750 A Corp Andina De Fomento 03.02.17 3.2 106.87 0.71 61 SNAT Sovereign-linked Entity CH0147029299 14'702'929 5000 A- CHF 2.500 A Heathrow Funding Ltd 08.02.17 3.3 106.49 0.58 48 United Kingdom Industrial CH0148611426 14'861'142 5000 A2 CHF 2.500 A Abn Amro Bank Nv 16.02.17 3.3 105.85 0.77 67 Netherlands Financial CH0028944681 2'894'468 5000 AA+ A1 CHF 2.875 A General Elec Cap Corp 27.02.17 3.3 107.93 0.56 46 USA Industrial CH0109361821 10'936'182 5000 AA+ Aa1 CHF 1.875 A Swedish Export Credit 08.03.17 3.4 105.20 0.38 27 Sweden Financial CH0029630131 2'963'013 5000 NR Aaa CHF 2.750 A Hsbc Bank Plc 03.04.17 3.4 108.36 0.39 27 United Kingdom Financial CH0030983685 3'098'368 5000 A A2 CHF 3.000 A Bp Capital Markets Plc 14.06.17 3.6 109.39 0.48 33 United Kingdom Energy CH0113872284 11'387'228 5000 AAA Aaa CHF 1.750 A Canadian Imperial Bank 30.06.17 3.7 105.19 0.38 21 Canada Financial CH0133090610 13'309'061 5000 A+ A1 CHF 2.250 A Zurich Insurance Co 27.07.17 3.7 106.06 0.67 49 Switzerland Financial CH0190369048 19'036'904 5000 A A2 CHF 3.000 A Macquarie Bank Ltd 09.08.17 3.7 107.74 0.98 80 Australia Financial CH0111174576 11'117'457 5000 A+ CHF 2.250 A Electricite De France 29.09.17 3.8 106.74 0.57 37 France Utilities CH0138773053 13'877'305 5000 A A2 CHF 1.750 A Bmw Finance Nv 29.09.17 3.9 104.34 0.66 46 Germany Automaker CH0146796062 14'679'606 5000 AA+ A1 CHF 1.625 A General Elec Cap Corp 19.10.17 3.9 104.12 0.61 40 USA Financial CH0139756859 13'975'685 5000 A A1 CHF 1.500 A Gdf Suez 20.10.17 4.0 103.53 0.63 42 France Utilities CH0118596888 11'859'688 5000 AAA Aaa CHF 1.500 A Bk Nederlandse Gemeenten 03.11.17 4.0 104.24 0.47 25 Netherlands Financial CH0106596916 10'659'691 5000 AA- Aa2 CHF 3.000 A Commonwealth Bank Aust 09.11.17 3.9 109.81 0.62 40 Australia Financial CH0118882353 11'888'235 5000 AA- Aa2 CHF 1.375 A Norges Statsbaner As 15.11.17 4.0 104.12 0.38 16 Norway Transportation

CH0039621724 3'962'172 5000 A+ Aa2 CHF 3.375 A Province Of Quebec 19.01.18 4.1 112.41 0.50 25 Canada Sovereign-linked Entity CH0184786181 18'478'618 5000 AA- Aa3 CHF 1.500 A Bnz International Fndng 22.01.18 4.2 103.39 0.71 46 Australia Financial CH0118532834 11'853'283 5000 AA- Aa2 CHF 2.000 A Rabobank Nederland 31.01.18 4.2 105.33 0.77 51 Netherlands Financial CH0017992477 1'799'247 5000 AA+ Aa1 CHF 3.000 A Swedish Export Credit 27.02.18 4.2 110.72 0.57 30 Sweden Financial CH0025633717 2'563'371 5000 AA+ A1 CHF 3.375 A General Elec Cap Corp 19.06.18 4.5 111.56 0.90 58 USA Industrial CH0043595203 4'359'520 5000 AA- Aa2 CHF 3.750 A Ontario (Province Of) 30.07.18 4.6 115.10 0.61 27 Canada Sovereign-linked Entity CH0045490817 4'549'081 5000 AA+ A1 CHF 4.500 A General Elec Cap Corp 09.10.18 4.5 117.65 0.94 56 USA Financial CH0199544781 19'954'478 5000 A A2 CHF 2.125 A Macquarie Bank Ltd 29.11.18 4.9 104.10 1.31 91 Australia Financial CH0142821401 14'282'140 5000 A A2 CHF 1.750 A Telstra Corp Ltd 14.12.18 5.0 104.99 0.78 37 Australia TMT CH0107746130 10'774'613 5000 AA- Aa2 CHF 3.125 A Westpac Banking Corp 21.12.18 4.8 111.10 0.96 55 Australia Financial

CH0020626773 2'062'677 5000 AA Aa2 CHF 2.750 A Soc Natl Chemins Fer Fra 23.01.19 5.0 109.51 0.93 50 France Transportation CH0147023466 14'702'346 5000 AA- Aa2 CHF 2.000 A Rabobank Nederland 06.02.19 5.1 105.18 1.01 58 Netherlands Financial CH0187695553 18'769'555 5000 A+ Aa3 CHF 2.000 A Lgt Bank In Liechtenstei 02.07.19 5.5 104.69 1.16 65 Liechtenstein Financial CH0106942508 10'694'250 5000 AA Aa2 CHF 2.375 A Soc Natl Chemins Fer Fra 24.07.19 5.5 107.67 1.03 51 France Transportation CH0106680777 10'668'077 5000 AAA Aaa CHF 2.625 A Caisse Francaise De Fin 12.08.19 5.5 108.72 1.10 57 France Financial CH0104007577 10'400'757 5000 AAA Aaa CHF 2.875 A Cie Financement Foncier 10.09.19 5.4 110.07 1.13 59 France Financial CH0107212968 10'721'296 5000 AA- Aa2 CHF 2.500 A Ontario (Province Of) 04.12.19 5.7 109.74 0.89 30 Canada Sovereign-linked Entity

CH0115013226 11'501'322 5000 AAA Aaa CHF 1.875 A Neder Waterschapsbank 03.02.20 6.0 105.24 1.03 41 Netherlands Financial CH0112138794 11'213'879 5000 AA- Aa2 CHF 2.375 A Ontario (Province Of) 07.05.20 6.2 109.11 0.96 30 Canada Sovereign-linked Entity CH0120096398 12'009'639 5000 AA Aa1 CHF 1.750 A Deutsche Bahn Finance Bv 03.06.20 6.3 105.25 0.94 27 Germany Transportation CH0193296990 19'329'699 5000 A A2 CHF 1.000 A Philip Morris Intl Inc 18.09.20 6.7 97.94 1.31 59 USA Consumer CH0194405335 19'440'533 5000 AA- Aa2 CHF 1.250 A Rabobank Nederland 15.10.20 6.7 99.10 1.38 65 Netherlands Financial CH0116103448 11'610'344 5000 Aaa CHF 1.750 A Bk Nederlandse Gemeenten 27.10.20 6.6 104.25 1.13 39 Netherlands Financial

CH0204567322 20'456'732 5000 AA- Aa3 CHF 1.375 A Corp Andina De Fomento 11.02.21 6.9 98.39 1.61 82 SNAT Sovereign-linked Entity CH0124071959 12'407'195 5000 AAA Aaa CHF 2.250 A Bk Nederlandse Gemeenten 23.02.21 6.8 107.38 1.21 42 Netherlands Financial CH0131220730 13'122'073 5000 A A2 CHF 3.125 A Abn Amro Bank Nv 28.06.21 6.9 107.49 2.08 123 Netherlands Financial CH0133090636 13'309'063 5000 A+ A1 CHF 2.875 A Zurich Insurance Co 27.07.21 7.1 109.92 1.53 68 Switzerland Financial CH0115457670 11'545'767 5000 AA- Aa2 CHF 2.000 A Rabobank Nederland 16.09.21 7.3 103.64 1.52 64 Netherlands Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. CHF BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

CH0139265000 13'926'500 5000 A A2 CHF 2.250 A Abb Ltd 11.10.21 7.3 105.25 1.55 67 Switzerland Industrial

CH0199544989 19'954'498 5000 A A2 CHF 3.000 A Macquarie Bank Ltd 29.11.22 7.9 106.98 2.16 111 Australia Financial

CH0200252838 20'025'283 5000 A+ Aa3 CHF 1.875 A Lgt Bank Ag 08.02.23 8.5 101.22 1.73 66 Switzerland Financial

CH0188335365 18'833'536 5000 A A2 CHF 1.750 A Swisscom Ag 10.07.24 9.8 99.30 1.82 66 Switzerland TMT

CH0180006113 18'000'611 5000 AAA Aaa CHF 1.625 A European Investment Bank 02.04.26 11.2 98.31 1.78 49 SNAT Sovereign-linked Entity

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. NOK BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0487758533 11'022'892 10000 AAA Aaa NOK 3.500 A Kommunalbanken As 24.02.14 0.5 100.88 1.60 13 Norway Sovereign-linked Entity XS0503643990 11'227'246 10000 AAA Aaa NOK 3.250 A Kfw 28.04.14 0.6 100.99 1.67 20 Germany Financial XS0427514137 10'162'797 10000 AAA Aaa NOK 4.000 A European Investment Bank 15.05.14 0.7 101.58 1.67 19 SNAT Sovereign-linked Entity XS0591889844 12'470'306 10000 AAA Aaa NOK 3.750 A Municipality Finance Plc 15.08.14 0.9 102.24 1.34 -17 Finland Sovereign-linked Entity XS0667522246 13'656'850 10000 AA- Aa3 NOK 3.125 A Hsbc Bank Plc 01.09.14 1.0 101.15 1.94 42 United Kingdom Financial XS0448022102 10'482'637 10000 AA- Aa2 NOK 4.250 A Rabobank Nederland 02.09.14 1.0 102.33 1.86 34 Netherlands Financial XS0449022226 10'495'281 10000 AAA Aaa NOK 4.000 A Kfw 15.12.14 1.2 102.67 1.85 30 Germany Financial

XS0479655432 10'912'299 10000 AA- Aa2 NOK 4.000 A Rabobank Nederland 27.01.15 1.3 102.55 2.12 54 Netherlands Financial XS0736517607 14'798'588 10000 Aa2 NOK 3.250 A Aust & Nz Banking Group 09.02.15 1.4 101.45 2.20 62 Australia Financial XS0590384359 12'448'596 10000 AAA Aaa NOK 3.750 A Bk Nederlandse Gemeenten 17.02.15 1.4 102.45 2.01 42 Netherlands Financial XS0504873182 11'241'571 10000 AAA Aaa NOK 3.375 A Intl Bk Recon & Develop 30.04.15 1.6 102.40 1.88 26 SNAT Sovereign-linked Entity XS0782727910 18'580'941 10000 A- A3 NOK 3.000 A Daimler Intl Finance Bv 18.05.15 1.6 101.23 2.25 62 Germany Automaker XS0730005567 14'690'717 10000 A A2 NOK 3.500 A Bmw Finance Nv 17.07.15 1.8 103.18 1.75 8 Germany Automaker DE000A1HDA43 20'110'846 10000 A A2 NOK 2.375 A Bmw Us Capital Llc 04.12.15 2.1 101.52 1.68 -8 Germany Automaker

XS0731740741 14'725'512 10000 A- A3 NOK 3.625 A Daimler Intl Finance Bv 20.01.16 2.2 102.65 2.46 67 Germany Automaker XS0552381385 11'911'396 10000 AAA Aaa NOK 3.000 A European Investment Bank 29.01.16 2.3 101.92 2.17 38 SNAT Sovereign-linked Entity XS0736534446 14'799'222 10000 A- A3 NOK 3.500 A Volkswagen Fin Serv Nv 02.02.16 2.3 102.38 2.47 67 Germany Automaker XS0935312305 21'434'843 10000 A- A3 NOK 2.250 A Volkswagen Fin Serv Nv 27.05.16 2.6 99.69 2.37 50 Germany Automaker XS0795086916 18'832'334 10000 A- A3 NOK 3.000 A Daimler Ag 20.06.16 2.6 101.12 2.58 70 Germany Automaker XS0799410773 18'894'427 10000 AA- Aa2 NOK 3.250 A Rabobank Nederland 05.07.16 2.7 101.92 2.54 64 Netherlands Financial XS0654470532 13'454'722 15000 / 1000 AAA Aaa NOK 3.875 A Neder Waterschapsbank 03.08.16 2.7 103.73 2.53 62 Netherlands Financial XS0822354774 19'355'307 10000 NR NOK 2.250 A  Toyota Finance Australia 31.08.16 2.9 100.14 2.20 27 Japan Automaker XS0669864976 13'691'681 10000 AA Aa1 NOK 3.375 A Deutsche Bahn Finance Bv 01.09.16 2.8 102.04 2.66 73 Germany Transportation XS0672296737 13'725'653 10000 AAA Aaa NOK 3.000 A Nordic Investment Bank 01.09.16 2.9 103.73 1.71 -22 SNAT Sovereign-linked Entity XS0669838541 13'691'465 10000 AAA Aaa NOK 3.000 A Kommunalbanken As 02.09.16 2.8 101.97 2.31 38 Norway Sovereign-linked Entity XS0690389217 14'041'100 10000 AAA Aaa NOK 2.875 A Kfw 12.10.16 2.9 101.47 2.38 42 Germany Financial XS0796988813 18'869'968 10000 AA+ A1 NOK 3.500 A General Elec Cap Corp 15.12.16 3.0 103.97 2.23 23 USA Financial

XS0739410164 14'848'792 10000 AA+ A1 NOK 3.875 A General Elec Cap Corp 02.02.17 3.1 104.19 2.57 54 USA Financial XS0770748217 18'344'144 10000 AA- Aa2 NOK 3.500 A Rabobank Nederland 18.04.17 3.3 103.99 2.33 26 Netherlands Financial XS0506435733 11'263'419 10000 AAA NR NOK 4.000 A European Bk Recon & Dev 11.05.17 3.4 105.40 2.45 35 SNAT Sovereign-linked Entity XS0783811671 18'595'740 10000 BBB+ Baa1 NOK 3.625 A Deutsche Telekom Ag 22.05.17 3.4 103.46 2.63 53 Germany TMT XS0812998036 19'181'698 10000 AAA Aaa NOK 2.125 A Nordic Investment Bank 09.08.17 3.7 98.89 2.43 28 SNAT Sovereign-linked Entity XS0827681908 19'433'294 10000 AA- Aa1 NOK 2.250 A Total Capital Intl Sa 11.09.17 3.7 99.15 2.47 31 France Energy XS0835302513 19'634'153 10000 A A3 NOK 2.750 A Linde Ag 28.09.17 3.7 100.23 2.69 52 Germany Basic Materials XS0859670290 20'105'248 10000 A- A3 NOK 2.875 A Daimler Ag 29.11.17 3.8 99.70 2.95 75 Germany Automaker

XS0874834525 20'422'499 10000 A A2 NOK 3.125 A Abn Amro Bank Nv 15.01.18 3.9 99.57 3.23 100 Netherlands Financial XS0858571184 20'085'294 10000 AA+ A1 NOK 3.000 A  General Elec Cap Corp 28.02.18 4.1 101.62 2.61 36 USA Financial XS0933295114 21'400'079 10000 AA- Aa2 NOK 2.625 A Rabobank Nederland 29.05.18 4.3 98.15 3.05 74 Netherlands Financial XS0938998225 21'496'725 10000 A- Baa1 NOK 3.000 A Danske Bank A/S 07.06.18 4.3 98.81 3.27 96 Denmark Financial XS0949742323 21'755'637 10000 A- A3 NOK 3.000 A Daimler Ag 10.07.18 4.4 99.20 3.18 85 Germany Automaker XS0686448019 13'987'819 1000 AAA Aaa NOK 3.500 A Landwirtsch. Rentenbank 05.10.18 4.5 103.55 2.74 37 Germany Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. SEK BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0741177918 14'878'197 10000 AA- Aa2 SEK 2.500 A Rabobank Nederland 10.02.14 0.4 100.46 1.41 61 Netherlands Financial XS0200551975 1'942'039 10000 AAA Aaa SEK 4.500 A European Investment Bank 05.05.14 0.7 102.03 1.39 53 SNAT Sovereign-linked Entity XS0640996632 13'211'007 10000 AA- Aa2 SEK 3.250 A Rabobank Nederland 30.06.14 0.8 101.50 1.38 46 Netherlands Financial

XS0733013519 14'740'510 10000 A- A3 SEK 3.125 A Daimler Canada Finance 20.01.15 1.3 101.85 1.74 65 Germany Automaker XS0752041755 18'057'945 1000000 AA+ A1 SEK 3.125 A General Elec Cap Corp 24.02.15 1.4 101.79 1.87 75 USA Financial XS0857439615 20'053'446 10000 BBB Baa3 SEK 3.125 A Rci Banque Sa 30.11.15 2.1 100.27 2.99 166 France Financial

XS0770203908 18'336'451 10000 AA- Aa2 SEK 3.000 A Rabobank Nederland 12.04.16 2.5 101.91 2.23 81 Netherlands Financial XS0830810585 19'506'016 10000 AA- Aa2 SEK 2.250 A Rabobank Nederland 21.12.16 3.1 99.90 2.28 71 Netherlands Financial

XS0698632212 14'185'625 10000 AAA Aaa SEK 2.625 A European Investment Bank 15.03.17 3.3 103.34 1.64 3 SNAT Sovereign-linked Entity XS0769841312 18'329'150 1000 AAA Aaa SEK 3.000 A Bk Nederlandse Gemeenten 12.04.17 3.4 103.34 2.03 40 Netherlands Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. PERPETUAL BOND SELECTION (HIGH PRICE VOLATILITY) CRNCY CPN_FREQ NXT_CALL_DT PX ASKYLD_YTC_ASKULT_PARENT_CNTRY_OF_RISKISSUER INDUSTRY ISIN Min./ Incr. Rating Rating Coupon Next Call Ind. Ask Yield to Valoren Ccy Freq. Name Country Sector Number Trad. Unit S & P Moody's % Date Price % Call %

CH0123693969 12'369'396 5000 A- A3 CHF 5.375 A Scor Se (5.375% To 08/16 Then 3M Eur+373.59Bp) 02.08.16 104.01 3.83 France Financial CH0122488445 12'248'844 5000 BBB CHF 5.250 A Swiss Life Ag (5.25% To 10/16 Then 5Yr/5Yrchf+355.1Bp) 04.10.16 103.51 4.01 Switzerland Financial CH0136594352 13'659'435 5000 BBB- Baa3 CHF 5.250 A Rwe Ag 04.04.17 103.56 4.15 Germany Utilities CH0043174397 4'317'439 5000 Baa1 CHF 5.500 A Rabobank Nederland (5.5% To 06/18 Then 6M Lib+280Bp) 27.06.18 107.35 3.80 Netherlands Financial

FR0010239319 2'301'809 1000 BBB Ba2 EUR 4.875 A Bnp Paribas 17.10.13 90.89 88.28 France Financial FR0010301713 2'471'799 50000 BBB A3 EUR 1.359 Q Credit Logement Sa 4.604% To 03/11 Then 3M Eur+115Bp 16.12.13 74.83 116.48 France Financial DE000A0GNPZ3 2'468'959 1000 A+ A3 EUR 5.375 A Allianz Finance Ii B.V. 03.03.14 103.21 -1.10 Germany Financial XS0178404793 1'697'252 1000 BBB+ Baa2 EUR 5.369 A  Hsbc Capital Funding Lp (5.36% To 03/2014 Then 3M Eur+200Bp) 24.03.14 100.90 3.61 United Kingdom Financial XS0356687219 3'940'793 1000 BBB- Ba1 EUR 8.000 A Ing Groep Nv 18.04.14 104.29 0.97 Netherlands Financial BE0934378747 4'230'905 1000 BB+ Ba2 EUR 8.000 A Kbc Bank Nv 14.05.14 103.47 2.78 Belgium Financial FR0010136382 2'045'860 1000 BBB- Ba2 EUR 4.196 A Societe Generale (4.196% To 01/2015 Then 3Meur+153Bp) 26.01.15 98.00 5.71 France Financial DE000A1ALVC5 10'501'281 1000 BBB- Ba2 EUR 9.500 A Db Capital Funding Xi 31.03.15 107.01 4.72 Germany Financial FR0010814558 10'665'764 1000 BBB- Ba2 EUR 9.250 A Bpce Sa 22.04.15 105.81 5.39 France Financial FR0010289496 2'442'979 50000 BBB- Baa3 EUR 6.250 A  Vinci Sa 13.11.15 106.00 3.36 France Industrial XS0188853526 1'815'405 1000 BBB+ Baa2 EUR 5.130 A Hsbc Capital Funding Lp (5.13% To 03/16 Then 3M Eur+190Bp) 29.03.16 103.52 3.66 United Kingdom Financial FR0010306738 2'516'227 50000 BBB Ba2 EUR 4.730 A Bnp Paribas (4.73% To 04/2016 Then 3Meur+169Bp) 12.04.16 99.54 4.91 France Financial XS0260057285 2'618'914 50000 / 1000 BBB- Baa1 EUR 5.777 A  Axa Sa (5.777% To 07/2016 Then 3Meur+250Bp) 06.07.16 102.99 4.62 France Financial FR0010456764 3'031'665 50000 BBB Ba2 EUR 5.019 A Bnp Paribas (5.019% To 04/17 Then 3M Eur+172Bp) 13.04.17 99.78 5.08 France Financial XS0336598064 3'627'776 50000 BBB- Ba2 EUR 6.999 A Societe Generale (6.999% To 12/17 Then 3M Eur+335Bp) 19.12.17 106.81 5.18 France Financial XS0336744650 3'630'370 50000 BBB- Ba2 EUR 7.152 A Ubs (7.152% To 12/17 Then 3M Eur+345Bp) 21.12.17 110.72 3.97 Switzerland Financial XS0877720986 20'558'224 1000 BB+ Baa3 EUR 5.625 A  Telekom Austria Ag 01.02.18 102.25 5.03 Austria TMT FR0010603159 3'912'806 50000 BBB- Ba2 EUR 8.200 A Credit Agricole Sa (8.2% To 03/18 Then 3M Eur+480Bp) 31.03.18 113.51 4.82 France Financial DE000A0TU305 4'239'446 1000 BBB- EUR 8.000 A Deutsche Bank Contingent Capital Trust 15.05.18 110.02 5.51 Germany Financial FR0010638338 4'360'638 50000 BBB Ba2 EUR 7.781 A Bnp Paribas (7.781% To 07/18 Then 3M Eur+ 375Bp) 02.07.18 109.93 5.38 France Financial XS0903872355 20'910'498 100000 / 1000 BB Ba1 EUR 6.125 A Koninklijke Kpn Nv 14.09.18 103.03 5.42 Netherlands TMT XS0449487619 10'503'037 50000 BBB- Ba2 EUR 9.375 A Societe Generale 9.375% Till Call 09/2019 Then 3M Eur+890.1Bp 04.09.19 114.04 6.48 France Financial FR0010814434 10'668'870 50000 BBB- Ba2 EUR 7.875 A Credit Agricole Sa (7.875% To 10/19 Then 3M Eur+642.4Bp) 26.10.19 109.81 5.92 France Financial FR0011401736 20'535'251 100000 BBB+ A3 EUR 4.250 A Electricite De France 29.01.20 101.79 3.92 France Utilities XS0214398199 2'087'222 10000 BBB- Ba2 EUR 4.750 A Barclays Bank (4.75% To 03/20 Then 3M Eur+71Bp) 15.03.20 77.23 9.59 United Kingdom Financial

FR0010291997 2'454'477 50000 BBB- Ba2 GBP 5.136 A Credit Agricole Sa (5.136% To 02/2016 Then 3M£ Libor+157.5Bp) 24.02.16 97.72 6.14 France Financial FR0010814418 10'668'880 50000 BBB- Ba2 GBP 8.125 A Credit Agricole Sa (8.125% To 10/19 Then 3M Lib+614.6Bp) 26.10.19 106.23 6.84 France Financial FR0010575654 3'717'804 50000 BBB- Ba2 GBP 7.589 A Credit Agricole Sa (7.589% To 01/20 Then 3M Lib+355Bp) 30.01.20 101.22 7.33 France Financial

USG3980PAA33 2'508'416 100000 / 1000 B3 USD 8.750 Q Gol Finance 05.10.13 59.70 805.04 Brazil Consumer FR0010239368 2'298'955 2000 BBB Ba2 USD 6.250 A Bnp Paribas 17.10.13 98.30 20.06 France Financial FR0010533554 3'488'814 2000 BBB- Ba2 USD 7.375 S Credit Agricole Sa 19.10.13 100.02 7.04 France Financial FR0010279208 2'408'708 2000 BBB- Ba2 USD 6.750 Q Bpce Sa 27.10.13 98.47 17.49 France Financial XS0173838847 1'650'884 1000 BBB Ba2 USD 7.000 Q Ca Preferred Fund Trust 30.10.13 97.48 23.93 France Financial XS0161441000 1'544'368 1000 BBB Ba2 USD 7.000 Q Ca Preferred Fund Trust 30.10.13 97.80 21.73 France Financial XS0365481935 4'250'683 2000 BBB+ Baa2 USD 8.125 S Standard Chartered Plc 27.11.13 101.15 2.98 United Kingdom Financial XS0406095041 4'935'285 1000 BB Ba3 USD 7.875 S Lloyds Banking Group Plc 29.11.13 100.14 7.13 United Kingdom Financial FR0010477125 3'115'593 2000 BBB Ba2 USD 6.500 Q Bnp Paribas 06.12.13 98.61 12.18 France Financial XS0371612762 4'323'649 2000 BBB- Ba1 USD 8.250 S Claudius (Credit Suisse) 27.12.13 101.78 2.46 Switzerland Financial XS0180995945 1'725'165 1000 A- Baa1 USD 5.260 S Rabobank Capital Fund Ii (5.26% To 12/2013 Then 3Mlib+162.75Bp) 31.12.13 101.28 1.22 Netherlands Financial XS0387971152 4'569'714 2000 A- Baa1 USD 7.375 S Rabobank Nederland 24.03.14 103.45 1.09 Netherlands Financial XS0347919457 10'279'779 1000 A- A3 USD 9.500 S Std.Chtd 9.5% Till Call 12/14 Then 5Yust+678Bp Till 12/19 Then 5Yust+1017Bp24.12.14 108.10 3.10 United Kingdom Financial FR0010772244 10'287'167 2000 BBB- Ba2 USD 9.750 S Credit Agricole Sa 26.12.14 106.76 4.37 France Financial XS0453319039 10'571'916 2000 / 1000 BBB+ Baa3 USD 8.375 S Nordea Bank Ab 25.03.15 108.05 3.04 Sweden Financial XS0454569863 10'623'196 2000 BBB- Ba2 USD 8.750 S Societe Generale 07.04.15 105.73 4.95 France Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. PERPETUAL BOND SELECTION (HIGH PRICE VOLATILITY) CRNCY CPN_FREQ NXT_CALL_DT PX ASKYLD_YTC_ASKULT_PARENT_CNTRY_OF_RISKISSUER INDUSTRY ISIN Min./ Incr. Rating Rating Coupon Next Call Ind. Ask Yield to Valoren Ccy Freq. Name Country Sector Number Trad. Unit S & P Moody's % Date Price % Call %

USW5816FCM42 2'131'086 100000 / 1000 BBB+ Baa3 USD 5.424 S Nordea Bank Ab (5.424% To 04/2015 Then 3M Lib+158.75Bp) 20.04.15 104.13 2.81 Sweden Financial USP47773AK54 11'524'817 100000 / 1000 BBB+ Baa2 USD 6.250 Q Globo Communicacoes Part 20.07.15 105.58 3.17 Brazil TMT USG6710EAF72 11'736'504 100000 / 1000 BBB- Baa3 USD 7.500 Q Odebrecht Finance Ltd 14.09.15 95.75 9.84 Brazil Industrial USG2585XAA75 11'772'748 100000 / 1000 BBB- Ba1 USD 7.000 Q Csn Islands Xii 23.09.15 81.25 18.15 Brazil Basic Materials XS0556373347 11'969'322 100000 / 1000 BB Ba2 USD 8.250 Q Cosan Overseas Ltd 05.11.15 101.56 7.46 Brazil Consumer USG3812BAB65 11'993'401 2000 / 1000 Ba3 USD 10.000 Q General Shopping Finance 09.11.15 90.00 15.49 Brazil Real Estate XS0562354422 12'083'567 100000 / 1000 BB+ Ba1 USD 8.375 S Macquarie Pmi Llc 02.12.15 104.77 6.06 Australia Financial XS0622491701 12'948'636 200000 / 1000 BB Ba2 USD 7.250 S China Resources Power (7.25% To 05/16 Then Ust + 524 And Ust +624) 09.05.16 103.38 5.86 China Utilities US90264AAA79 2'559'013 75000 / 1000 BBB- Ba2 USD 6.243 S Ubs Pfd Funding Tr V (6.243% To 05/2016 Then 3Mlib+161.5Bp) 15.05.16 106.00 3.87 Switzerland Financial USN08328AA95 13'528'612 200000 / 1000 USD 9.750 S Ballarpur Intl Grapic Pa (9.75% To 5Yr Then Ct5+857Bp To 10Yr Then ...) 11.08.16 60.50 31.26 India Basic Materials USG4673LAA29 18'531'897 50000 / 1000 BBB Baa2 USD 6.000 S  Hutch Whampoa Int 12 Ltd (6% To 05/2017 Then 5Y Ust+517.6 Bp) 07.05.17 105.76 4.29 Hong Kong Industrial USF22797FJ25 3'133'459 100000 / 1000 BBB- Ba2 USD 6.637 S Credit Agricole Sa (6.637% Till 05/2017 Then 3M Lib+123.25Bp) 31.05.17 95.68 7.99 France Financial XS0813929782 20'144'910 200000 / 1000 BBB NR USD 6.625 S  Societe Generale (6.625% To 06/18 Then Usd+575.4 Every 5Yr) 11.06.18 101.70 6.20 France Financial XS0857872500 20'093'619 200000 A+ A2 USD 5.500 S  Allianz Se 26.09.18 98.27 5.90 Germany Financial USF0609NAP36 2'837'472 100000 / 1000 BBB- Baa1 USD 6.463 S Axa Sa (6.463% To 02/18 Then 3M Us Lib + 144.9 Bp) 14.12.18 100.42 6.37 France Financial USP3772WAA01 10'663'497 100000 / 1000 Baa2 USD 8.500 S Banco Do Brasil (Cayman) 20.10.20 107.83 7.08 Brazil Financial USF2893TAF33 20'558'120 100000 / 1000 BBB+ A3 USD 5.250 S Electricite De France 29.01.23 94.12 6.08 France Utilities USN4297BBC74 21'015'805 200000 / 1000 BB Ba1 USD 7.000 S Koninklijke Kpn Nv 28.03.23 100.34 6.95 Netherlands TMT USG463802037 1'632'410 1000 NR WR USD 4.610 S Hsbc Capital Funding Lp (4.61% To 06/2013 Then 3M Lib+199.5Bp) United Kingdom Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. SUBORDINATED BOND SELECTION CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

AU3FN0012811 12'757'609 100000 / 10000 A A2 AUD 5.008 Q Lloyds Tsb Bank Plc-Au 01.10.14 0.1 101.44 3.39 United Kingdom Financial

CH0212937210 21'293'721 5000 BBB Baa3 CHF 4.000 A C Raiffeisen Bank Intl 24.05.23 4.2 101.60 4.00 331 Austria Financial CH0214333731 21'433'373 5000 A- NR CHF 1.875 A C Adcb Finance Cayman Ltd 13.06.23 4.4 90.67 3.21 375 UAE Financial CH0022976853 2'297'685 5000 BBB- Ba1 CHF 2.375 A Royal Bk Of Scotland Plc 02.11.15 2.0 99.04 2.84 290 United Kingdom Financial CH0194405343 19'440'534 5000 BBB Baa3 CHF 4.750 A Raiffeisen Bank Intl 24.10.22 7.1 104.88 4.10 306 Austria Financial

xs0185490934 1'782'914 1000 BBB+ Baa3 EUR 4.750 A C Citigroup Inc 10.02.19 0.4 99.26 2.04 624 USA Financial XS0187584312 1'803'279 1000 BBB+ Baa3 EUR 4.500 A C Societe Generale 12.03.19 0.5 101.21 1.24 197 France Financial xs0191752434 1'850'306 1000 BBB+ Baa3 EUR 4.750 A C  Bank Of America Corp 06.05.19 0.6 99.54 2.16 524 USA Financial XS0876763748 20'503'888 100000 / 1000 B EUR 7.375 S Loxam Sas 24.01.20 4.4 102.37 6.91 594 France Consumer XS0828014133 19'441'061 100000 / 1000 BBB+ EUR 4.000 A C Skandinaviska Enskilda 12.09.22 3.6 105.31 3.56 191 Sweden Financial FR0010815464 10'674'162 50000 NR EUR 7.875 A C Groupama Sa 27.10.39 4.4 96.60 6.88 744 France Financial XS0430052869 10'202'131 50000 / 1000 A A3 EUR 5.750 A Royal Bk Of Scotland Plc 21.05.14 0.7 103.76 0.41 26 United Kingdom Financial XS0165449736 1'576'430 1000 BB+ Ba1 EUR 4.875 A Hbos Plc 20.03.15 1.5 103.77 2.34 211 United Kingdom Financial XS0605521185 12'670'494 100000 / 1000 A+ Aa3 EUR 3.875 A Hsbc Holdings Plc 16.03.16 2.4 107.00 1.05 70 United Kingdom Financial XS0592695000 12'490'928 100000 / 1000 A+ A1 EUR 4.250 A Skandinaviska Enskilda 21.02.18 4.0 111.27 1.61 79 Sweden Financial XS0356705219 3'926'538 50000 / 1000 BBB- Ba1 EUR 6.934 A Royal Bk Of Scotland Plc 09.04.18 3.8 107.09 5.15 428 United Kingdom Financial XS0450880496 10'526'268 50000 / 1000 A- Aa3 EUR 5.125 A Aust & Nz Banking Group 10.09.19 5.0 111.64 2.98 184 Australia Financial XS0490013801 11'052'158 50000 / 1000 AA- Aa2 EUR 4.375 A Commonwealth Bank Aust 25.02.20 5.6 112.51 2.27 104 Australia Financial XS0497187640 11'148'435 50000 / 1000 BBB- Baa3 EUR 6.500 A Lloyds Tsb Bank Plc 24.03.20 5.2 111.99 4.35 311 United Kingdom Financial XS0555833580 11'966'949 50000 / 1000 A A1 EUR 4.000 A Sumitomo Mitsui Banking 09.11.20 6.1 111.72 2.21 85 Japan Financial XS0557252417 11'978'517 50000 / 1000 A A2 EUR 3.750 A Rabobank Nederland 09.11.20 6.0 101.71 3.48 211 Netherlands Financial XS0576532054 12'273'942 1000 AA- Aa2 EUR 4.125 A Rabobank Nederland 12.01.21 6.2 110.83 2.49 109 Netherlands Financial XS0525912449 11'519'018 50000 / 1000 BBB Baa3 EUR 6.000 A Barclays Bank Plc 14.01.21 5.8 109.14 4.51 310 United Kingdom Financial XS0875796541 20'446'310 1000 BBB+ Baa1 EUR 2.125 A Deutsche Telekom Int Fin 18.01.21 6.6 98.38 2.37 96 Germany TMT XS0550466469 11'876'082 50000 BBB+ Baa3 EUR 3.900 A Credit Agricole Sa 19.04.21 6.4 98.98 4.06 260 France Financial XS0826634874 19'433'512 100000 / 1000 A A2 EUR 4.125 A Rabobank Nederland 14.09.22 7.1 101.06 3.98 221 Netherlands Financial BE0002420926 20'118'108 100000 A1 EUR 2.750 A Eandis 30.11.22 7.9 100.04 2.74 93 Belgium Utilities XS0954910146 21'927'446 100000 / 1000 A A2 EUR 3.875 A Rabobank Nederland 25.07.23 8.0 97.60 4.18 225 Netherlands Financial

XS0440403797 10'408'009 50000 BBB- Baa3 GBP 7.300 A C Santander Issuances 27.07.19 1.0 103.32 4.61 361 Spain Financial XS0405953257 4'916'052 50000 BBB+ Baa3 GBP 7.375 A Credit Agricole Sa 18.12.23 7.0 114.70 5.46 253 France Financial

XS0590975396 12'458'029 1000 AAA Aaa SEK 4.000 A Bk Nederlandse Gemeenten 16.02.16 2.3 104.77 1.98 60 Netherlands Financial

XS0803659340 18'991'141 200000 / 1000 A- A3 USD 4.000 S C Standard Chartered Plc 12.07.22 3.5 100.51 4.43 269 United Kingdom Financial XS0813493631 19'183'725 200000 / 1000 A- Aa3 USD 3.450 S C Aust & Nz Banking Group 08.08.22 3.6 100.54 4.03 211 Australia Financial XS0834385840 19'625'072 200000 / 1000 Baa3 USD 3.875 S C China Citic Bank Intl Lt 28.09.22 3.6 95.57 4.98 384 China Financial XS0843128603 19'791'676 200000 / 1000 A+ Aa2 USD 2.875 S C United Overseas Bank Ltd 17.10.22 3.8 98.65 3.58 195 Singapore Financial US69033DAA54 19'433'498 200000 / 1000 A+ Aa2 USD 3.150 S C Oversea-Chinese Banking 11.03.23 4.1 99.09 3.72 193 Singapore Financial XS0910935021 21'034'299 200000 / 1000 NR USD 4.875 S C Emirates Nbd Pjsc 28.03.23 3.9 96.69 5.71 425 UAE Financial XS0937539921 21'479'760 200000 / 1000 A- NR USD 3.125 S C Adcb Finance Cayman Ltd 28.05.23 4.3 89.74 4.86 409 UAE Financial US90261XGX49 12'404'605 250000 / 1000 A A2 USD 2.250 S Ubs Ag Stamford Ct 28.01.14 0.4 100.81 0.20 16 Switzerland Financial XS0592010853 12'479'750 1000 AAA Aaa USD 1.750 A L-Bank Bw Foerderbank 18.02.14 0.5 100.71 0.18 13 Germany Financial us61748aae64 1'824'856 1000 BBB+ Baa2 USD 4.750 S Morgan Stanley 01.04.14 0.6 102.17 0.94 88 USA Financial US172967CQ22 1934767 1000 BBB+ Baa3 USD 5.000 S Citigroup Inc 15.09.14 1.0 105.08 0.05 -8 USA Financial XS0552649021 11'921'859 100000 / 1000 Ba1 USD 5.250 S Banco Industr E Comrcl 25.10.15 1.9 91.88 9.53 907 Brazil Financial XS0288690539 2'944'435 100000 / 1000 BB- Ba3 USD 6.300 S Alfa Bank (Alfa Bond) 22.02.17 3.1 103.88 5.07 406 Luxembourg Financial XS0776121062 18'462'409 200000 / 1000 B1 USD 10.000 S Nomos Bank(Nomos Cap) 26.04.19 4.1 104.91 8.87 703 Russia Financial XS0779213460 18'510'553 200000 / 1000 BB+ Ba3 USD 7.250 S Gazprombk (Gpb Finance) 03.05.19 4.5 106.70 5.84 400 Russia Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. SUBORDINATED BOND SELECTION CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0832412505 19'616'041 200000 / 1000 BB- Ba3 USD 7.500 S Alfa Bank (Alfa Bond) 26.09.19 4.7 105.53 6.38 442 Luxembourg Financial XS0854763355 20'012'814 200000 / 1000 B1 USD 8.500 S Ceb Cptl (Credit Eur Bk) 15.11.19 4.7 104.00 7.67 566 Luxembourg Financial US46556MAA09 11'213'134 100000 / 1000 Baa3 USD 6.200 S Itau Unibanco Hldg Sa/Ky 15.04.20 5.3 103.05 5.64 350 Brazil Financial US53947QAA58 11'736'486 100000 / 1000 BBB- Baa3 USD 6.500 S Lloyds Tsb Bank Plc 14.09.20 5.5 110.40 4.74 248 United Kingdom Financial US06739GBP37 11'857'692 100000 / 1000 BBB Baa3 USD 5.140 S Barclays Bank Plc 14.10.20 5.8 104.41 4.41 214 United Kingdom Financial XS0563742138 12'066'678 100000 / 1000 A3 USD 5.125 S Icbc Asia Ltd 30.11.20 6.0 104.63 4.37 207 China Financial USP3772WAB83 11'823'036 100000 / 1000 Baa1 USD 5.375 S Banco Do Brasil (Cayman) 15.01.21 5.9 95.51 6.14 382 Brazil Financial USG0732RAF58 11'626'561 100000 / 1000 Baa2 USD 5.900 S Banco Bradesco (Cayman) 16.01.21 5.8 98.15 6.22 390 Brazil Financial US46556MAB81 11'772'681 100000 / 1000 Baa3 USD 5.750 S Itau Unibanco Hldg Sa/Ky 22.01.21 5.9 97.57 6.16 384 Brazil Financial USF0819HE459 12'786'373 2000 / 1000 BB+ Ba1 USD 5.750 S  Banque Psa Finance 04.04.21 5.9 99.73 5.79 344 France Financial US55608YAA38 12'815'863 2000 / 1000 BBB A3 USD 6.625 S Macquarie Bank Ltd 07.04.21 5.8 108.07 5.32 296 Australia Financial USG59606AA46 12'987'214 200000 / 1000 A- Baa1 USD 5.000 S Mega Advance Investments 12.05.21 6.3 103.52 4.45 208 China Energy US65557HAA05 13'014'159 200000 / 1000 A Baa1 USD 4.875 S Nordea Bank Ab 13.05.21 6.3 103.71 4.30 193 Sweden Financial US46556MAE21 13'198'664 200000 / 1000 Baa3 USD 6.200 S Itau Unibanco Hldg Sa/Ky 21.12.21 6.3 98.00 6.51 403 Brazil Financial XS0736418962 14'799'533 200000 / 1000 A- A3 USD 5.700 S Standard Chartered Plc 25.01.22 6.6 104.24 5.07 257 United Kingdom Financial USG07402DN01 13'077'386 200000 / 1000 Baa1 USD 5.875 S Banco Do Brasil (Cayman) 26.01.22 6.4 94.73 6.70 420 Brazil Financial USG0732RAG32 18'067'680 200000 / 1000 Baa2 USD 5.750 S Banco Bradesco (Cayman) 01.03.22 6.6 95.25 6.49 397 Brazil Financial US46556MAF95 18'171'465 200000 / 1000 Baa3 USD 5.650 S Itau Unibanco Hldg Sa/Ky 19.03.22 6.4 92.70 6.79 426 Brazil Financial XS0803109270 19'045'963 200000 / 1000 A A2 USD 4.200 S Mizuho Fin Grp Cayman 2 18.07.22 7.3 98.13 4.46 187 Japan Financial US46556MAH51 19'170'354 200000 / 1000 Baa3 USD 5.500 S Itau Unibanco Hldg Sa/Ky 06.08.22 6.8 91.68 6.76 416 Brazil Financial USP07790AD31 19'634'396 200000 / 1000 Ba1 USD 5.750 S Banco Btg Pactual/Cayman 28.09.22 6.6 87.88 7.63 500 Brazil Financial XS0842078536 19'758'176 200000 / 1000 BBB- Ba1 USD 6.950 S Vtb Bank (Vtb Capital Sa 17.10.22 6.5 99.25 7.06 443 Russia Financial XS0847042024 19'871'722 200000 / 1000 Ba1 USD 6.000 S Turkiye Is Bankasi A.S 24.10.22 6.6 89.67 7.59 495 Turkey Financial XS0848530977 19'871'720 200000 / 1000 Baa3 USD 5.125 S Sberbank (Sb Cap Sa) 29.10.22 7.0 92.78 6.17 353 Russia Financial XS0849728190 19'903'466 200000 / 1000 Ba2 USD 6.000 S Turkiye Vakiflar Bankasi 01.11.22 6.6 87.25 7.99 535 Turkey Financial US854502AD32 19'958'336 2000 / 1000 A Baa1 USD 2.900 S Stanley Black & Decker I 01.11.22 7.8 93.57 3.74 109 USA Industrial US21685WDF14 19'966'237 250000 / 1000 A A2 USD 3.950 S Rabobank Nederland 09.11.22 7.5 95.86 4.51 186 Netherlands Financial XS0861979440 20'151'540 200000 / 1000 Ba1 USD 5.500 S Yapi Ve Kredi Bankasi 06.12.22 6.8 84.03 7.97 531 Turkey Financial US780099CE50 20'129'422 2000 / 1000 BB+ Ba2 USD 6.125 S Royal Bk Scotlnd Grp Plc 15.12.22 6.9 97.47 6.49 383 United Kingdom Financial XS0874014722 20'423'890 200000 / 1000 A- A3 USD 3.950 S Standard Chartered Plc 11.01.23 7.6 92.73 4.93 225 United Kingdom Financial USP3772WAE23 18'824'367 200000 / 1000 BB+ Baa1 USD 5.875 S Banco Do Brasil (Cayman) 19.01.23 7.0 93.50 6.82 414 Brazil Financial XS0897453493 20'819'644 200000 / 1000 A- NR USD 4.500 S Adcb Finance Cayman Ltd 06.03.23 7.4 95.73 5.07 237 UAE Financial US165167CL94 20'987'248 2000 / 1000 BB- Ba3 USD 5.750 S Chesapeake Energy Corp 15.03.23 7.1 100.38 5.70 299 USA Energy US46556MAJ18 19'976'581 200000 / 1000 Baa3 USD 5.125 S Itau Unibanco Hldg Sa/Ky 13.05.23 7.2 88.76 6.72 398 Brazil Financial US61747YDU64 21'445'690 1000 BBB+ Baa2 USD 4.100 S Morgan Stanley 22.05.23 7.7 91.77 5.19 245 USA Financial XS0935311240 21'445'823 200000 / 1000 USD 5.250 S Sberbank (Sb Cap Sa) 23.05.23 7.3 90.67 6.56 382 Russia Financial US780097AY76 21'565'932 2000 / 1000 BB+ Ba2 USD 6.100 S Royal Bk Scotlnd Grp Plc 10.06.23 7.1 96.22 6.63 388 United Kingdom Financial USG59606AB29 12'989'335 200000 / 1000 A- Baa1 USD 6.375 S Mega Advance Investments 12.05.41 13.4 110.46 5.62 203 China Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

AU3CB0191864 18'207'928 10000 BBB Baa2 AUD 7.000 S Holcim Finance Australia 27.03.15 1.4 104.51 3.98 152 Switzerland Industrial XS0841812851 19'754'119 2000 BBB Baa3 AUD 6.000 A Rci Banque Sa 18.10.16 2.7 102.23 5.20 231 France Financial AU3CB0196848 19'036'621 10000 BBB Baa2 AUD 5.750 S Crown Group Finance Ltd 18.07.17 3.4 102.95 4.90 189 Australia Consumer AU3CB0196699 19'027'461 10000 BBB Baa2 AUD 6.000 S Holcim Finance Australia 18.07.17 3.4 103.91 4.88 187 Switzerland Industrial XS0881550411 20'548'394 2000 AUD 4.125 A Aust & Nz Banking Group 07.02.18 3.9 99.26 4.31 112 Australia Financial XS0965107641 22'177'976 2000 AUD 5.000 A Danske Bank A/S 05.09.18 4.3 99.80 5.05 173 Denmark Financial AU3CB0208494 21'326'635 10000 BBB- Baa3 AUD 5.500 S Lend Lease Fin Ltd 13.11.18 4.4 101.11 5.25 196 Australia Real Estate AU3CB0200111 19'671'345 10000 BBB Baa2 AUD 5.250 S Holcim Finance Australia 04.04.19 4.7 99.22 5.41 205 Switzerland Industrial XS0968975457 22'248'529 2000 / 1000 AUD 4.750 A National Australia Bank 10.09.19 5.1 99.58 4.83 132 Australia Financial AU3CB0211415 21'908'006 1000 BBB Baa2 AUD 6.000 S Perth Airport Pty Ltd 23.07.20 5.6 101.83 5.67 207 Australia Consumer AU3CB0212967 22'224'662 10000 Baa2 AUD 5.750 S Connecteast Finance Pty 02.09.20 5.7 99.74 5.80 217 Australia Consumer

XS0868675835 20'289'430 5000 NR BRL 6.000 A Swedish Export Credit 21.12.15 1.9 92.53 9.76 -171 Sweden Financial

CA07813ZBB90 18'850'760 1000 BBB+ Baa1 CAD 3.350 S Bell Canada 18.06.19 5.2 3.47 138 Canada TMT

CH0123385764 12'338'576 5000 BB+ Ba1 CHF 3.500 A Edp Finance Bv 14.02.14 0.4 101.08 1.03 97 Portugal Utilities CH0137675481 13'767'548 5000 BBB Baa3 CHF 3.000 A Rci Banque Sa 28.11.14 1.2 102.51 0.94 109 France Financial CH0181738904 18'173'890 5000 BBB Baa3 CHF 2.500 A Rci Banque Sa 16.07.15 1.8 102.77 0.99 110 France Financial CH0148606178 14'860'617 5000 BB- B1 CHF 5.000 A Fiat Finance & Trade 07.09.15 1.8 103.99 2.92 301 Italy Automaker CH0187216012 18'721'601 5000 BB+ Ba1 CHF 3.250 A  Banque Psa Finance 25.09.15 1.9 102.47 2.01 209 France Financial CH0023153270 2'315'327 5000 Baa1 CHF 2.500 A Morgan Stanley 17.11.15 2.1 104.29 0.53 59 USA Financial CH0142132015 14'213'201 5000 CHF 4.875 A Actelion Ltd 07.12.15 2.1 106.90 1.73 179 Switzerland Consumer CH0117367430 11'736'743 5000 BBB Baa2 CHF 3.625 A Glencore Finance Europe 06.04.16 2.5 106.51 1.06 107 Switzerland Basic Materials CH0149058163 14'905'816 5000 BBB- Baa3 CHF 1.875 A Metro Ag 02.05.16 2.6 102.65 0.86 87 Germany Consumer CH0185349351 18'534'935 5000 BBB+ Baa2 CHF 2.250 A Leaseplan Corporation Nv 18.07.16 2.8 103.79 0.91 89 Netherland Financial CH0214886563 21'488'656 5000 BBB Baa3 CHF 1.500 A Rci Banque Sa 19.07.16 2.8 101.06 1.12 111 France Financial CH0136940258 13'694'025 5000 CHF 1.375 A Alpiq Holding Ag 20.09.16 2.9 100.62 1.17 113 Switzerland Utilities CH0130720599 13'072'059 5000 CHF 4.000 A Nobel Biocare Holding Ag 10.10.16 2.8 107.77 1.42 138 Switzerland Consumer CH0102162952 10'216'295 5000 BB+ Ba3 CHF 2.875 A Eksportfinans Asa 16.11.16 2.9 98.73 3.30 324 Norway Financial CH0197841544 19'784'154 5000 BB- B1 CHF 5.250 A Fiat Finance & Trade 23.11.16 2.8 104.24 3.82 376 Italy Automaker CH0148560995 148'560'999 5000 BBB Baa1 CHF 3.000 A Iberdrola Intl Bv 13.02.17 3.2 104.63 1.60 150 Spain Utilities CH0110623722 11'062'372 5000 BB+ Ba2 CHF 2.125 A Tokyo Electric Power Co 24.03.17 3.3 93.38 4.17 405 Japan Utilities CH0140684512 14'068'451 5000 NR Ba2 CHF 7.250 S Heidelbergcement Fin Lux 14.11.17 3.6 117.29 2.84 264 Germany Industrial XS0548100246 11'866'699 150000 / 1000 BB- Ba3 CHF 7.000 S Sunrise Communications I 31.12.17 0.3 106.50 5.30 286 Switzerland TMT XS0804472057 19'034'455 150000 / 1000 BB- Ba3 CHF 5.625 S Sunrise Communications I 31.12.17 0.9 104.45 4.48 375 Switzerland TMT XS0585440430 12'400'249 150000 / 1000 B B2 CHF 7.875 S Aguila (Swissport) 31.01.18 2.2 104.84 6.59 658 Switzerland Industrial CH0221386136 22'138'613 5000 CHF 1.500 A Georg Fischer Finanz Ag 12.09.18 4.8 101.20 1.25 89 Switzerland Automaker CH0188295239 18'829'523 5000 BBB- Ba1 CHF 2.500 A Clariant Ag 26.09.18 4.6 103.61 1.75 138 Switzerland Basic Materials CH0197841551 19'784'155 5000 BB+ Ba1 CHF 4.000 A  Edp Finance Bv 29.11.18 4.6 103.18 3.33 294 Portugal Utilities CH0185843023 18'584'302 5000 BBB Baa2 CHF 2.625 A Glencore Finance Europe 03.12.18 4.8 104.28 1.76 136 Switzerland Basic Materials CH0197841569 19'784'156 5000 BBB Baa2 CHF 2.718 A  Telefonica Emisiones Sau 14.12.18 4.8 104.26 1.86 145 Spain TMT CH0195757254 19'575'725 5000 BBB Baa2 CHF 2.750 A Enel Finance Intl Nv 17.12.18 4.8 103.88 1.97 156 Italy Utilities CH0204574914 20'457'491 5000 BBB Baa2 CHF 2.125 A Gas Natural Fenosa Fin B 08.02.19 5.0 100.90 1.95 151 Spain Energy CH0181721629 18'172'162 5000 BBB- Ba1 CHF 3.250 A Clariant Ag 24.04.19 5.1 106.05 2.10 162 Switzerland Basic Materials CH0106322123 10'632'212 5000 BB+ Ba3 CHF 2.500 A Eksportfinans Asa 29.04.19 5.1 91.70 4.18 370 Norway Financial XS0742406407 14'941'241 150000 / 1000 B+ B1 CHF 6.750 S Matterhorn Mobile Sa 15.05.19 3.1 107.10 5.29 490 United Kingdom TMT CH0215076339 21'507'633 5000 CHF 1.500 A Abn Amro Bank Nv 27.12.19 5.9 100.05 1.49 90 Netherlands Financial CH0131078435 13'107'843 5000 BBB Baa2 CHF 3.000 A Enel Finance Intl Nv 23.06.20 6.1 105.83 2.07 139 Italy Utilities CH0136940282 13'694'028 5000 CHF 2.250 A Alpiq Holding Ag 20.09.21 7.1 97.09 2.66 178 Switzerland Utilities CH0146839870 14'683'987 5000 BBB+ Baa1 CHF 3.000 A Vinci Sa 24.01.22 7.3 106.54 2.14 121 France Industrial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

CH0221386144 22'138'614 5000 CHF 2.500 A Georg Fischer Finanz Ag 12.09.22 8.0 100.53 2.43 142 Switzerland Automaker CH0188295312 18'829'531 5000 BBB- Ba1 CHF 3.500 A Clariant Ag 26.09.22 7.5 105.62 2.79 177 Switzerland Basic Materials CH0200252788 20'025'278 5000 BBB Baa2 CHF 3.450 A Telefonica Emisiones Sau 14.12.22 7.7 104.30 2.91 186 Spain TMT XS0909771056 21'014'664 150000 / 1000 B B2 CHF 6.750 S Upc Holding Bv 15.03.23 6.7 98.85 6.92 596 United Kingdom TMT

FR0010957274 11'928'936 1000 BB- B1 EUR 4.000 A Peugeot Sa 28.10.13 0.1 100.43 0.99 92 France Automaker XS0542174395 11'747'374 50000 / 1000 BB+ Ba1 EUR 3.500 A  Banque Psa Finance 17.01.14 0.4 100.74 1.45 136 France Financial XS0576551781 12'273'445 1000 BBB Baa3 EUR 3.250 A Rci Banque Sa 17.01.14 0.4 100.95 0.64 55 France Financial XS0411735300 1'500'146 50000 / 1000 B+ B1 EUR 5.500 A Nokia Oyj 04.02.14 0.4 101.58 1.63 153 Finland TMT XS0413462721 3'023'354 50000 / 1000 BB+ Ba1 EUR 5.500 A Edp Finance Bv 18.02.14 0.5 101.81 1.46 135 Portugal Utilities XS0751352898 18'048'728 100000 / 1000 BB+ Baa3 EUR 5.250 A Fga Capital Ireland 28.02.14 0.5 101.84 1.38 127 Italy Financial XS0599959953 18'026'834 50000 / 1000 NR Baa2 EUR 3.750 A Caisse Cent Credit Immob 10.03.14 0.5 101.52 0.74 63 France Financial FR0010874115 11'136'750 50000 EUR 5.875 A Rallye Sa 24.03.14 0.5 102.67 0.96 83 France Consumer FR0010070805 1'829'797 1000 CCC Caa1 EUR 6.375 A Alcatel-Lucent 07.04.14 0.6 103.46 0.45 32 France Tmt XS0615771143 12'830'386 100000 / 1000 B+ Caa1 EUR 7.250 A  Ote Plc 08.04.14 0.6 102.68 2.55 242 Greece TMT XS0430328525 10'207'155 50000 / 1000 BB+ Ba1 EUR 8.875 A Lafarge Sa 27.05.14 0.7 105.32 1.41 125 France Industrial XS0862695110 20'167'864 100000 BBB- Baa2 EUR 3.250 A  Santan Consumer Finance 20.06.14 0.8 101.50 1.32 115 Spain Financial XS0437047292 10'303'741 50000 BBB+ Baa2 EUR 6.250 A Aon Services Luxembourg 01.07.14 0.8 104.65 0.54 37 USA Financial AT0000A0H999 11'175'403 1000 NR Ba2 EUR 4.875 A Wienerberger Ag 07.07.14 0.8 103.22 0.99 82 Austria Industrial XS0643300717 13'250'225 1000 BBB Baa3 EUR 3.750 A Rci Banque Sa 07.07.14 0.8 102.28 0.99 82 France Financial XS0647263317 13'326'159 100000 / 1000 BB- B1 EUR 6.125 A Fiat Finance & Trade 08.07.14 0.8 103.31 2.09 192 Italy Automaker DE000A0Z2CS9 10'344'799 1000 BBB- Baa3 EUR 5.750 A Metro Ag 14.07.14 0.8 104.32 0.66 49 Germany Consumer XS0196630270 1'904'532 1000 BB+ Ba1 EUR 5.000 A Lafarge Sa 16.07.14 0.8 102.89 1.58 141 France Industrial XS0730061396 14'694'236 100000 / 1000 BB+ Ba1 EUR 6.000 A Banque Psa Finance 16.07.14 0.8 103.54 1.81 163 France Financial XS0440007176 10'354'058 1000 BBB Baa2 EUR 5.375 A  Dexia Credit Local 21.07.14 0.9 103.02 1.85 167 Belgium Financial XS0821078861 19'335'055 100000 BBB Baa2 EUR 4.375 A Santander Intl Debt Sa 04.09.14 1.0 102.91 1.41 122 Spain Financial XS0451641285 10'540'364 50000 / 1000 BB- B1 EUR 7.625 A Fiat Finance & Trade 15.09.14 0.9 105.30 2.34 215 Italy Automaker XS0830346374 19'503'502 100000 / 1000 BB+ Baa3 EUR 4.375 A Fga Capital Ireland 18.09.14 1.0 102.53 1.88 168 Ireland Financial FR0010943316 11'752'595 50000 BBB Baa2 EUR 4.500 A Gecina 19.09.14 1.0 103.95 0.67 48 France REITS FR0010801761 10'547'127 50000 BBB Baa3 EUR 4.000 A Alstom 23.09.14 1.0 103.29 0.84 64 France Industrial FR0010805309 10'573'080 50000 EUR 3.750 A Christian Dior 23.09.14 1.0 102.76 1.09 89 France Consumer FR0010808071 10'602'944 50000 EUR 4.875 A Lagardere Sca 06.10.14 1.0 104.22 0.95 75 France TMT FR0010809236 10'626'876 1000 BB+ Ba1 EUR 6.000 A Renault S.A. 13.10.14 1.0 104.93 1.46 126 France Automaker XS0459131636 10'669'370 1000 BB Ba2 EUR 8.000 A Franz Haniel & Cie Gmbh 23.10.14 1.1 107.81 1.02 81 Germany Industrial XS0203831432 1'976'910 1000 BB+ EUR 4.875 A Wendel 04.11.14 1.1 103.99 1.39 119 France Industrial XS0204395213 1'982'996 1000 BB+ Ba1 EUR 4.625 A Arcelormittal Finance 07.11.14 1.1 103.99 1.18 97 Luxembourg Basic Materials XS0698425690 14'207'130 1000 BBB Baa3 EUR 4.500 A Rci Banque Sa 16.11.14 1.1 103.59 1.45 124 France Financial XS0856173546 20'028'786 1000 BBB Baa3 EUR 2.125 A Rci Banque Sa 24.11.14 1.2 101.20 1.13 92 France Financial FR0010827048 10'764'544 50000 EUR 4.000 A Safran Sa 26.11.14 1.2 103.49 1.11 90 France Industrial XS0472505287 10'802'049 50000 / 1000 BBB+ EUR 5.125 A Nomura Europe Finance Nv 09.12.14 1.2 105.11 1.02 81 Japan Financial XS0207037507 2'009'465 1000 BBB Baa2 EUR 4.375 A Holcim Finance Lux Sa 09.12.14 1.2 104.78 0.56 35 Switzerland Industrial XS0731124516 14'712'120 100000 / 1000 BBB+ Baa2 EUR 4.125 A Leaseplan Corporation Nv 13.01.15 1.3 104.39 0.86 64 Netherland Financial XS0578317587 12'292'462 100000 / 1000 BB+ Ba1 EUR 3.875 A Banque Psa Finance 14.01.15 1.3 102.50 1.99 177 France Financial FR0010766329 10'238'435 50000 BBB- Baa3 EUR 7.000 A Pernod-Ricard Sa 15.01.15 1.3 108.31 0.83 61 France Consumer XS0628597683 13'029'318 100000 / 1000 BBB- Baa3 EUR 4.750 A Fce Bank Plc 19.01.15 1.3 105.22 0.91 69 USA Financial FR0010806745 10'590'094 50000 EUR 8.375 A Rallye Sa 20.01.15 1.3 108.93 1.74 152 France Consumer XS0440312725 10'362'401 50000 / 1000 BBB+ Baa1 EUR 4.500 A Sabmiller Plc 20.01.15 1.3 105.29 0.62 40 United Kingdom Consumer FR0010773697 10'295'797 50000 BBB- EUR 5.500 A Casino Guichard Perracho 30.01.15 1.3 106.48 0.83 61 France Consumer XS0329479728 3'528'710 50000 / 1000 BBB Baa2 EUR 5.250 A Wpp Finance Sa 30.01.15 1.3 106.23 0.76 54 United Kingdom Tmt

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0346402463 3'771'572 50000 / 1000 B+ Caa1 EUR 7.250 A  Ote Plc 12.02.15 1.3 103.69 4.51 429 Greece TMT XS0465889912 10'736'816 50000 / 1000 BB- B1 EUR 6.875 A  Fiat Finance & Trade 13.02.15 1.3 105.48 2.92 269 Italy Automaker XS0598445129 12'582'106 1000 BBB+ EUR 4.000 A Grenke Finance Plc 09.03.15 1.4 103.72 1.48 126 Germany Financial XS0604640499 12'652'013 100000 / 1000 BB+ Ba2 EUR 5.250 A Fiat Industrial Fin Eur 11.03.15 1.4 104.81 1.98 175 Italy Automaker XS0729061795 14'676'576 1000 BBB Baa3 EUR 5.625 A Rci Banque Sa 13.03.15 1.4 106.24 1.43 120 France Financial XS0495010133 11'118'100 50000 / 1000 BB+ Ba1 EUR 3.250 A Edp Finance Bv 16.03.15 1.5 101.34 2.34 211 Portugal Utilities XS0214238239 2'088'246 1000 BB Ba1 EUR 4.375 A Thyssenkrupp Ag 18.03.15 1.5 103.85 1.79 156 Germany Basic Materials FR0010878991 11'174'312 1000 BBB EUR 3.750 A Kering 08.04.15 1.5 104.67 0.78 54 France Consumer XS0503278847 11'227'620 1000 EUR 4.000 A Stada Arzneimittel Ag 21.04.15 1.6 104.12 1.41 117 Germany Consumer XS0503684838 11'227'804 50000 / 1000 B+ B1 EUR 7.500 A Gmac Intl Finance Bv 21.04.15 1.5 107.98 2.42 218 USA Financial XS0359781191 3'966'636 50000 BBB Baa2 EUR 7.125 A Glencore Finance Europe 23.04.15 1.5 109.47 1.22 98 Switzerland Industrial XS0365901734 4'256'246 50000 BB+ Ba1 EUR 6.125 A Lafarge Sa 28.05.15 1.6 106.74 2.10 186 France Industrial XS0222766973 2'191'647 1000 BBB- Baa2 EUR 4.000 A Koninklijke Kpn Nv 22.06.15 1.7 105.29 1.01 76 Netherlands TMT XS0640796032 13'209'381 100000 / 1000 BB+ Ba1 EUR 4.000 A Banque Psa Finance 24.06.15 1.7 102.88 2.34 210 France Financial XS0695403765 14'131'098 100000 / 1000 BBB Baa2 EUR 4.625 A Enel Finance Intl Nv 24.06.15 1.7 105.69 1.40 115 Italy Utilities FR0010915116 11'461'401 1000 BB- B1 EUR 5.625 A Peugeot Sa 29.06.15 1.7 104.77 2.88 263 France Automaker FR0010916734 11'466'022 1000 BB+ Ba1 EUR 5.625 A Renault S.A. 30.06.15 1.7 106.29 2.06 180 France Automaker FR0010633974 4'337'502 50000 BBB+ EUR 6.125 A Bouygues Sa 03.07.15 1.8 109.45 0.88 63 France Tmt FI4000014329 11'489'109 50000 EUR 4.875 A Neste Oil Oyj 06.07.15 1.8 105.63 1.72 147 Finland Energy FR0011076447 13'312'648 100000 BBB Baa2 EUR 3.500 A Vivendi Sa 13.07.15 1.8 104.74 0.91 65 France TMT DE000A1AY2A0 11'526'232 50000 / 1000 BB WR EUR 8.500 S Conti-Gummi Finance B.V. 15.07.15 Germany Automaker XS0522343101 11'482'664 50000 / 1000 B+ B1 EUR 8.500 S C Hertz Holdgs Netherlands 31.07.15 0.1 105.35 5.50 -575 USA Consumer XS0478802548 10'913'124 1000 NR Ba2 EUR 6.500 S Heidelbergcement Fin Lux 03.08.15 1.8 108.26 2.07 182 Germany Industrial XS0290422095 2'970'825 50000 BB+ EUR 4.875 A Wendel 21.09.15 1.9 105.45 2.12 186 France Industrial XS0798333802 18'877'322 1000 BB+ Ba1 EUR 4.875 A Banque Psa Finance 25.09.15 1.9 104.57 2.56 229 France Financial XS0833631343 19'600'593 100000 / 1000 BBB+ EUR 2.875 A Carrefour Banque 25.09.15 2.0 103.90 0.95 68 France Financial XS0683565476 13'944'284 100000 / 1000 BBB Baa2 EUR 3.500 A Compagnie De St Gobain 30.09.15 2.0 105.04 1.02 75 France Industrial FR0010948232 11'820'623 100000 BBB Baa3 EUR 2.875 A Alstom 05.10.15 2.0 103.52 1.15 88 France Industrial XS0683639933 13'941'787 1000 BBB Baa3 EUR 5.625 A Rci Banque Sa 05.10.15 1.9 108.19 1.60 132 France Financial XS0230962853 2'287'696 50000 / 1000 BBB+ Baa1 EUR 3.625 A Bertelsmann Se & Co Kgaa 06.10.15 2.0 105.80 0.81 53 Germany Tmt XS0846550746 19'847'163 100000 / 1000 Caa1 EUR 2.375 A Co-Operative Bank Plc 23.10.15 1.9 93.49 5.70 542 United Kingdom #N/A DE000A1R0U31 19'985'137 1000 EUR 1.000 A Sap Ag 13.11.15 2.1 100.55 0.75 45 Germany Industrial FR0011157726 14'383'474 100000 BBB Baa2 EUR 3.875 A Vivendi Sa 30.11.15 2.1 106.17 1.07 77 France TMT XS0236951207 2'352'911 50000 / 1000 BBB WR EUR 4.000 A Altadis Emisiones Financ 11.12.15 2.1 106.39 1.13 82 United Kingdom Consumer XS0520759803 11'467'092 1000 NR Ba2 EUR 6.750 S Heidelbergcement Fin Lux 15.12.15 2.1 110.41 2.05 175 Germany Industrial XS0473999984 10'829'074 50000 / 1000 BBB Baa2 EUR 5.875 A Tdc 16.12.15 2.1 111.09 0.93 63 Denmark TMT XS0564563921 12'088'462 50000 / 1000 CCC Caa1 EUR 8.500 S Alcatel-Lucent 15.01.16 2.1 109.41 4.26 399 France TMT DE000A1A1P09 11'475'827 50000 / 1000 BB Ba1 EUR 6.500 S C Conti-Gummi Finance B.V. 15.01.16 0.1 103.98 4.70 -221 Germany Automaker XS0551845265 11'901'545 1000 BBB Baa3 EUR 4.000 A Rci Banque Sa 25.01.16 2.2 105.32 1.71 138 France Financial DE000A0GMHG2 2'419'857 1000 EUR 3.875 A Porsche Intl Financing 01.02.16 2.3 106.23 1.23 91 Germany Automaker FR0011001361 12'405'022 100000 BBB Baa2 EUR 4.250 A Gecina 03.02.16 2.3 107.15 1.22 89 France REITS XS0587805457 12'422'606 100000 / 1000 BB Ba2 EUR 5.625 A Portugal Telecom Int Fin 08.02.16 2.2 104.25 3.75 342 Portugal TMT XS0718395089 14'486'598 100000 BBB- Baa3 EUR 4.250 A Repsol Intl Finance 12.02.16 2.3 106.48 1.52 119 Spain Energy FR0011392349 20'447'704 100000 BBB+ EUR 2.125 A Socram Banque 23.02.16 2.4 100.06 2.10 176 France Financial XS0594299066 12'523'912 100000 / 1000 BB+ Ba1 EUR 4.250 A  Banque Psa Finance 25.02.16 2.3 103.62 2.71 237 France Financial FR0011193531 14'872'072 100000 BBB Baa3 EUR 3.875 A Alstom 02.03.16 2.3 105.91 1.44 109 France Industrial XS0755521142 18'118'602 50000 NR Ba2 EUR 4.000 S Heidelbergcement Fin Lux 08.03.16 2.3 104.62 2.10 176 Germany Industrial XS0602211202 12'622'509 1000 BBB Baa3 EUR 4.000 A Rci Banque Sa 16.03.16 2.4 105.37 1.80 146 France Financial FR0010871376 11'127'122 50000 BBB- Baa3 EUR 4.875 A Pernod-Ricard Sa 18.03.16 2.4 108.92 1.27 92 France Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0828735893 19'481'927 100000 BBB Baa2 EUR 4.625 A Santander Intl Debt Sa 21.03.16 2.4 104.90 2.60 225 Spain Financial XS0235605853 2'335'809 50000 / 1000 BB+ Ba1 EUR 4.250 A Lafarge Sa 23.03.16 2.4 104.51 2.40 205 France Industrial FR0011124544 13'980'814 1000 BB- B1 EUR 6.875 A Peugeot Sa 30.03.16 2.3 106.83 4.01 365 France Automaker XS0787399673 18'665'184 1000 BBB+ EUR 3.750 A Grenke Finance Plc 30.03.16 2.4 104.62 1.88 153 Germany Financial XS0613002368 12'789'183 100000 / 1000 BB- B1 EUR 6.375 A Fiat Finance & Trade 01.04.16 2.3 105.04 4.25 389 Italy Automaker FR0011124601 13'980'670 100000 BBB- EUR 4.472 A Casino Guichard Perracho 04.04.16 2.4 108.05 1.27 92 France Consumer DE000A1KQXZ0 12'881'696 1000 EUR 7.125 A Freenet Ag 20.04.16 2.4 111.99 2.35 199 Germany TMT DE000A1KQ1M5 12'887'300 1000 Baa3 EUR 4.250 A Gea Group Ag 21.04.16 2.5 108.00 1.14 77 Germany Industrial BE6220236143 12'936'962 1000 EUR 5.375 A Nyrstar 11.05.16 2.4 104.44 3.60 323 Belgium Basic Materials FR0011044890 12'969'266 100000 EUR 4.000 A Christian Dior 12.05.16 2.5 105.87 1.74 136 France Consumer XS0888827333 20'656'703 100000 / 1000 Baa3 EUR 1.875 A Fce Bank Plc 12.05.16 2.6 101.18 1.42 105 USA Financial XS0857214968 20'052'054 100000 / 1000 BBB Baa2 EUR 1.750 A Xstrata Finance Dubai Lt 19.05.16 2.6 100.01 1.74 137 Switzerland Basic Materials XS0275776283 2'791'816 50000 B+ Caa1 EUR 4.625 A  Ote Plc 20.05.16 2.4 97.49 5.64 526 Greece TMT FR0011052117 13'056'076 1000 BB+ Ba1 EUR 4.625 A Renault S.A. 25.05.16 2.5 105.69 2.43 206 France Automaker FR0011052745 13'063'132 100000 EUR 5.375 A Bollore Investissement 26.05.16 2.5 107.22 2.59 221 France Industrial XS0253989635 2'552'375 50000 BB+ EUR 4.875 A Wendel Sa 26.05.16 2.5 105.65 2.69 232 France Industrial FR0010333385 2'570'572 50000 BBB Baa2 EUR 4.875 A Compagnie De St Gobain 31.05.16 2.6 109.73 1.23 85 France Industrial DE000A0GTCB9 2'586'675 1000 BBB+ Baa1 EUR 4.750 A Deutsche Telekom Int Fin 31.05.16 2.6 110.19 0.96 57 Germany TMT FR0011057439 13'105'232 100000 EUR 4.875 A Iliad Sa 01.06.16 2.6 107.53 2.02 163 France TMT FR0011043108 13'105'255 100000 EUR 4.500 A Seb Sa 03.06.16 2.6 105.95 2.24 185 France Consumer XS0431928414 10'233'157 50000 / 1000 BB+ Ba1 EUR 10.625 A Arcelormittal 03.06.16 2.4 119.69 3.02 264 Luxembourg Basic Materials XS0940658361 21'532'462 100000 / 1000 BB+ Ba2 EUR 2.750 A Governor & Co Of The Ban 05.06.16 2.6 98.33 3.39 301 Ireland Financial FR0011512417 21'556'927 100000 BBB+ EUR 1.500 A Banque Solfea 07.06.16 2.7 99.56 1.66 128 France Financial XS0940302002 21'523'043 1000 BBB Baa3 EUR 1.750 A Rci Banque Sa 06.07.16 2.7 100.41 1.60 120 France Financial XS0477568637 10'918'530 1000 BB+ EUR 5.500 S Fresenius 15.07.16 2.7 110.22 1.82 142 Germany Consumer XS0630382538 13'061'567 100000 / 1000 BBB+ Baa1 EUR 3.625 A Svenska Cellulosa Ab 26.08.16 2.8 107.32 1.11 69 Sweden Basic Materials XS0268583993 2'708'352 1000 BBB+ Baa1 EUR 4.750 A Bertelsmann Se & Co Kgaa 26.09.16 2.8 110.82 1.13 69 Germany Tmt XS0435879605 10'290'736 50000 / 1000 BB+ Ba1 EUR 4.750 A  Edp Finance Bv 26.09.16 2.7 103.29 3.59 316 Portugal Utilities XS0456567055 10'633'211 1000 EUR 4.625 A Heineken Nv 10.10.16 2.8 110.25 1.23 79 Netherlands Consumer XS0805410239 19'034'204 100000 / 1000 BB- B1 EUR 7.750 A Fiat Finance & Trade 17.10.16 2.6 109.22 4.51 406 Italy Automaker XS0842560640 19'780'513 100000 / 1000 BBB+ EUR 2.875 A F Van Lanschot Bankiers 17.10.16 2.9 99.92 2.90 245 Netherlands Financial XS0843328526 19'802'653 1000 EUR 4.000 A Celesio Finance Bv 18.10.16 2.8 104.58 2.46 201 Germany Consumer DE000A1E8V89 11'904'422 1000 EUR 4.125 A Sixt Ag 25.10.16 2.9 107.09 1.78 137 Germany Consumer FR0010814459 10'668'027 50000 EUR 6.750 A Air France-Klm 27.10.16 2.7 109.09 3.63 318 France Consumer FR0010957282 11'928'943 1000 BB- B1 EUR 5.000 A Peugeot Sa 28.10.16 2.8 103.92 3.66 320 France Automaker FR0010815472 10'674'009 50000 EUR 7.625 A Rallye Sa 04.11.16 2.7 113.83 2.97 252 France Consumer XS0273988393 2'788'773 50000 / 1000 BB Ba2 EUR 7.250 S C Bombardier Inc 15.11.16 0.1 104.60 5.65 -1943 Canada Industrial XS0466300257 10'731'414 50000 / 1000 BBB Baa1 EUR 4.250 A Coca-Cola Hbc Finance Bv 16.11.16 2.9 108.81 1.41 94 Switzerland Consumer XS0434974217 10'279'226 50000 / 1000 BB+ Ba1 EUR 8.875 A Lafarge Sa 24.11.16 2.7 117.73 3.01 253 France Industrial FR0011149954 14'361'245 100000 BBB EUR 5.250 A Cap Gemini Sogeti 29.11.16 2.9 111.59 1.55 107 France TMT FR0010830042 10'777'377 50000 BBB Baa2 EUR 4.250 A Vivendi Sa 01.12.16 3.0 108.86 1.43 95 France TMT XS0470632646 10'777'069 50000 / 1000 BBB Baa2 EUR 4.375 A Anglo American Capital 02.12.16 3.0 108.70 1.60 112 United Kingdom Basic Materials BE6000480606 10'806'413 1000 EUR 5.750 A Ucb Sa 10.12.16 2.9 109.07 2.80 231 Belgium Consumer FR0010914408 11'457'561 50000 BB+ Ba1 EUR 5.180 S Remy Cointreau Sa 15.12.16 3.0 110.81 1.77 129 France Consumer XS0273933902 2'820'964 50000 / 1000 BB- Ba3 EUR 6.250 S Chesapeake Energy Corp 15.01.17 3.0 107.56 3.83 336 USA Energy FR0010397927 2'787'753 1000 BBB+ Baa1 EUR 4.375 A Veolia Environnement 16.01.17 3.1 110.47 1.18 67 France Utilities FR0011182112 14'712'097 100000 Baa3 EUR 5.750 A Valeo Sa 19.01.17 3.0 112.50 1.89 137 France Automaker XS0735784851 14'789'046 100000 / 1000 BBB- Ba1 EUR 5.625 A Clariant Finance Lux 24.01.17 3.0 111.12 2.18 166 Switzerland Financial XS0458230322 10'665'407 1000 NR Ba2 EUR 8.000 S Heidelbergcement Finance 31.01.17 3.0 116.24 2.95 245 Germany Industrial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

FR0010850701 10'962'433 50000 BBB Baa3 EUR 4.125 A Alstom 01.02.17 3.1 106.99 1.98 146 France Industrial XS0482703286 10'951'625 1000 BB Ba2 EUR 7.125 A Franz Haniel & Cie Gmbh 01.02.17 3.0 113.89 2.79 227 Germany Industrial XS0742446700 14'903'659 100000 / 1000 BBB Baa2 EUR 3.500 A Everything Everywhere Fi 06.02.17 3.2 104.47 2.13 160 United Kingdom TMT XS0585904443 12'397'867 100000 BBB Baa2 EUR 4.750 A Telefonica Emisiones Sau 07.02.17 3.1 107.52 2.43 190 Spain TMT FR0010850719 11'000'787 50000 BBB- EUR 4.379 A Casino Guichard Perracho 08.02.17 3.1 108.79 1.71 119 France Consumer FR0011149947 14'506'812 100000 BBB+ EUR 4.250 A Vallourec Sa 14.02.17 3.2 109.26 1.47 94 France Industrial FR0011164888 14'513'084 100000 BBB+ Baa1 EUR 4.125 A Vinci Sa 20.02.17 3.2 109.12 1.40 87 France Industrial DE000A1MA9H4 18'051'280 1000 BB Ba1 EUR 4.375 A Thyssenkrupp Ag 28.02.17 3.1 103.02 3.44 290 Germany Basic Materials XS0751937185 18'051'298 100000 / 1000 BBB NR EUR 2.750 A Securitas Ab 28.02.17 3.3 103.30 1.76 122 Sweden Consumer FR0011022110 12'659'547 100000 BBB- Baa3 EUR 5.000 A Pernod-Ricard Sa 15.03.17 3.2 111.41 1.64 109 France Consumer XS0495913229 1'127'009 50000 / 1000 BBB Baa2 EUR 5.625 A 3I Group Plc 17.03.17 3.2 110.27 2.54 199 United Kingdom Financial FR0010871541 11'127'599 1000 BB+ Ba1 EUR 5.625 A Renault S.A. 22.03.17 3.2 108.91 2.93 238 France Automaker XS0495973470 11'127'626 50000 BBB Baa2 EUR 5.250 A Glencore Finance Europe 22.03.17 3.2 109.79 2.33 178 Switzerland Basic Materials XS0764640149 18'238'776 100000 / 1000 BB- B1 EUR 7.000 A Fiat Finance & Trade 23.03.17 3.0 106.36 4.99 443 Italy Automaker DE000A1MA9X1 18'223'053 1000 EUR 5.500 A Hochtief Ag 23.03.17 3.2 107.23 3.30 274 Spain Industrial XS0215828913 579'294 50000 / 1000 BB Ba2 EUR 4.375 A Portugal Telecom Int Fin 24.03.17 3.2 101.24 3.99 343 Portugal TMT FR0010877183 11'152'817 50000 BBB NR EUR 4.125 A Eutelsat Sa 27.03.17 3.3 108.26 1.71 115 France TMT FI4000041785 18'252'557 100000 / 1000 EUR 4.000 A Neste Oil Oyj 28.03.17 3.2 103.73 2.88 232 Finland Energy FR0010878751 11'169'378 50000 BBB Baa2 EUR 4.000 A Vivendi Sa 31.03.17 3.3 108.31 1.58 102 France TMT XS0499542396 11'178'864 50000 / 1000 BBB- Baa3 EUR 5.750 A Mondi Finance Ltd 03.04.17 3.2 113.07 1.93 136 United Kingdom Basic Materials FR0010454090 3'017'250 50000 BB+ Ba2 EUR 4.750 A Ciments Francais 04.04.17 3.2 104.36 3.43 286 Italy Industrial XS0500128326 11'190'186 1000 EUR 3.500 A Sap Ag 10.04.17 3.4 107.32 1.40 83 Germany Industrial XS0294547285 3'028'300 50000 / 1000 BBB Baa2 EUR 4.750 A Compagnie De St Gobain 11.04.17 3.3 110.72 1.65 108 France Industrial FR0010885160 11'205'741 50000 BBB+ EUR 4.000 A Klepierre 13.04.17 3.3 108.29 1.61 104 France REITS XS0503554627 11'237'378 1000 EUR 4.500 A Celesio Finance Bv 26.04.17 3.3 106.03 2.73 215 Germany Consumer XS0775870982 18'440'812 1000 BBB Baa3 EUR 4.250 A Rci Banque Sa 27.04.17 3.3 107.48 2.09 151 France Financial FR0010890517 11'240'961 50000 EUR 4.500 A  Galeries Lafayette 28.04.17 3.3 106.31 2.66 207 France Consumer XS0777017376 18'462'382 100000 / 1000 BBB- EUR 2.875 A G4S Intl Finance Plc 02.05.17 3.4 101.29 2.50 191 United Kingdom Consumer XS0506435576 11'263'400 1000 BBB+ Baa2 EUR 4.125 A Smiths Group Plc 05.05.17 3.4 107.93 1.86 128 United Kingdom Industrial XS0926848572 21'301'649 100000 / 1000 EUR 8.000 S Hellenic Petroleum Finan 10.05.17 3.1 101.31 7.58 713 Greece Energy XS0511389453 11'353'291 1000 BBB+ EUR 4.000 A Heraeus Finance Gmbh 29.05.17 3.5 108.62 1.60 99 Germany Industrial XS0305093311 3'184'315 50000 BB- B1 EUR 5.625 A Fiat 12.06.17 3.3 104.23 4.38 376 Italy Automaker XS0304756405 3'186'788 50000 / 1000 Baa2 EUR 5.750 A Asml Holding Nv 13.06.17 3.4 114.59 1.72 110 Netherlands TMT XS0305188533 3'187'315 50000 / 1000 BBB Baa2 EUR 5.250 A Xstrata Finance Canada 13.06.17 3.4 110.21 2.38 177 Switzerland Basic Materials XS0787483626 18'845'037 1000 Baa3 EUR 3.000 A Mtu Aero Engines Ag 21.06.17 3.6 105.06 1.61 99 Germany Industrial XS0307005545 3'205'212 50000 BB+ Ba1 EUR 5.375 A Lafarge Sa 26.06.17 3.4 106.89 3.41 279 France Industrial XS0795872901 18'664'129 1000 NR Baa1 EUR 1.875 A Deutsche Post Finance 27.06.17 3.7 102.47 1.21 58 Germany Transportation FR0011233451 18'353'009 1000 BB- B1 EUR 5.625 A Peugeot Sa 11.07.17 3.4 103.57 4.59 395 France Automaker XS0647288140 13'325'668 100000 / 1000 BBB Baa2 EUR 4.125 A Enel Finance Intl Nv 12.07.17 3.5 105.81 2.52 188 Italy Utilities XS0438150160 10'328'186 50000 / 1000 B B3 EUR 11.750 S Wind Acquisition Fin Sa 15.07.17 1.6 105.24 10.07 856 Italy TMT FR0011182559 14'725'550 100000 BBB Baa2 EUR 4.125 A Vivendi Sa 18.07.17 3.6 108.47 1.84 120 France TMT XS0224749100 2'220'466 50000 BB+ EUR 4.375 A Wendel 09.08.17 3.6 104.50 3.14 248 France Industrial XS0827573766 19'433'316 100000 / 1000 BBB+ Baa3 EUR 6.250 A Esb Finance Limited 11.09.17 3.4 115.19 2.25 157 Ireland Utilities DE000A1A0U37 11'724'180 50000 / 1000 BB Ba1 EUR 7.500 S C Conti-Gummi Finance B.V. 15.09.17 0.0 104.03 -2.51 -256 Germany Automaker FR0011321447 19'495'212 1000 BB+ Ba1 EUR 4.625 A Renault S.A. 18.09.17 3.5 106.27 2.95 227 France Automaker XS0831842645 19'549'644 100000 / 1000 BB+ Ba1 EUR 5.750 A  Edp Finance Bv 21.09.17 3.4 106.56 3.96 328 Portugal Utilities XS0829209195 19'493'288 100000 BBB Baa1 EUR 4.500 A Iberdrola Intl Bv 21.09.17 3.6 108.49 2.28 159 Spain Utilities XS0542369219 11'771'437 1000 Baa3 EUR 4.000 A Rheinmetall Ag 22.09.17 3.6 105.73 2.49 181 Germany Industrial XS0838847381 19'694'087 100000 / 1000 Baa3 EUR 2.875 A Fce Bank Plc 03.10.17 3.7 103.99 1.85 116 USA Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

FR0011125442 13'994'152 100000 BBB- EUR 4.625 A Areva Sa 05.10.17 3.6 109.26 2.23 153 France Energy FR0011342740 19'754'412 100000 BBB Baa3 EUR 2.250 A Alstom Sa 11.10.17 3.8 100.64 2.08 139 France Industrial XS0548805299 11'856'401 50000 / 1000 Baa2 EUR 3.375 A Carlsberg Breweries A/S 13.10.17 3.7 106.99 1.60 90 Denmark Consumer FR0010950857 11'866'278 50000 EUR 4.875 A Compagnie Des Alpes 18.10.17 3.6 107.54 2.90 220 France Consumer FR0010955559 11'890'314 50000 BBB Baa2 EUR 4.000 A Arkema 25.10.17 3.7 108.72 1.79 108 France Basic Materials FR0011348531 19'861'352 100000 EUR 4.125 A  Lagardere Sca 31.10.17 3.7 105.11 2.80 209 France TMT XS0466370540 10'744'658 50000 / 1000 BB Ba2 EUR 7.250 S Smurfit Kappa Acquisitio 15.11.17 0.2 104.84 5.93 85 Ireland Basic Materials XS0559641146 12'015'250 50000 / 1000 BB+ Ba1 EUR 5.875 A Arcelormittal 17.11.17 3.6 107.70 3.85 312 Luxembourg Basic Materials XS0563106730 12'055'304 50000 / 1000 EUR 4.375 A Ap Moller-Maersk A/S 24.11.17 3.8 109.09 2.10 136 Denmark Transportation FR0011361070 20'068'662 100000 BBB- EUR 3.500 A Fonciere Lyonnaise 28.11.17 3.8 105.16 2.21 146 France REITS XS0858803066 20'094'228 100000 / 1000 BBB+ Baa3 EUR 3.625 A Bord Gais Eireann 04.12.17 3.8 105.91 2.15 140 Ireland Energy XS0861828407 20'137'883 100000 / 1000 BB+ Baa3 EUR 4.375 A Finmec Finance Sa 05.12.17 3.7 102.97 3.60 285 Italy Industrial XS0866278921 20'248'792 100000 / 1000 BBB NR EUR 1.875 A Carrefour Sa 19.12.17 4.0 101.29 1.56 80 France Consumer XS0548101723 11'866'621 100000 / 1000 BB- Ba3 EUR 7.000 S Sunrise Communications I 31.12.17 0.3 106.46 5.30 291 Switzerland TMT PTBENJOM0015 20'425'780 100000 BB- Ba3 EUR 4.750 A Banco Espirito Santo Sa 15.01.18 3.7 97.28 5.46 467 Portugal Financial FR0011345545 19'787'447 100000 BBB- EUR 3.875 A Fonciere Des Regions 16.01.18 3.9 104.75 2.70 191 France REITS FR0011374099 20'215'916 100000 EUR 6.250 A  Air France-Klm 18.01.18 3.6 106.12 4.66 387 France Consumer XS0905797113 20'936'583 1000 BBB Baa3 EUR 2.875 A Rci Banque Sa 22.01.18 4.0 101.63 2.48 168 France Financial XS0550979842 11'887'498 50000 / 1000 BBB+ Baa2 EUR 4.625 A Corio Nv 22.01.18 3.9 109.01 2.43 163 Netherlands REITS XS0479541699 10'912'695 50000 BBB Baa2 EUR 4.125 A Gas Natural Capital 26.01.18 3.9 106.41 2.56 176 Spain Energy XS0879082914 20'516'455 100000 / 1000 BBB EUR 3.375 A Ferrovial Emisiones 30.01.18 4.0 102.83 2.68 188 Spain Industrial AT0000A0MS58 12'403'118 1000 EUR 4.750 A Voestalpine Ag 05.02.18 3.9 107.93 2.81 200 Austria Basic Materials XS0885718782 20'607'536 100000 / 1000 B+ Caa1 EUR 7.875 S Ote Plc 07.02.18 3.7 104.36 6.72 602 Greece TMT FR0011413863 20'638'488 100000 BBB Baa2 EUR 2.000 A Jcdecaux Sa 08.02.18 4.2 100.60 1.86 104 France TMT XS0743603358 14'916'990 1000 BB Ba2 EUR 6.250 A Franz Haniel & Cie Gmbh 08.02.18 3.8 113.25 3.00 220 Germany Industrial FR0010853226 10'971'307 50000 BBB+ EUR 4.000 A Bouygues Sa 12.02.18 4.0 109.16 1.83 102 France Industrial XS0560905506 12'052'789 100000 / 1000 BB- Ba3 EUR 7.375 S Wind Acquisition Fin Sa 15.02.18 2.8 102.22 6.79 623 Italy TMT IT0004794142 18'003'070 1000 BBB Baa2 EUR 4.875 A Enel Spa 20.02.18 3.9 107.32 3.09 227 Italy Utilities XS0831370613 19'536'535 100000 BBB- Baa3 EUR 4.375 A Repsol Intl Finance 20.02.18 4.0 107.46 2.58 176 Spain Energy XS0893201433 20'731'193 100000 / 1000 BB+ Ba3 EUR 6.125 A Italcementi Finance 21.02.18 3.7 102.48 5.47 465 Italy Industrial XS0593960304 12'514'827 100000 / 1000 Baa2 EUR 4.375 A Tdc A/S 23.02.18 4.0 110.84 1.82 100 Denmark TMT FR0011439975 20'839'915 1000 BB- B1 EUR 7.375 A Peugeot Sa 06.03.18 3.7 105.72 5.88 504 France Automaker XS0604641034 12'652'115 100000 / 1000 BB+ Ba2 EUR 6.250 A Fiat Industrial Fin Eur 09.03.18 3.9 111.55 3.43 259 Italy Automaker XS0602534637 12'628'132 100000 NR Baa3 EUR 5.750 A Holding D’Infrastructures Et De Transport 09.03.18 3.9 113.90 2.45 161 Spain Consumer XS0828724004 19'482'179 100000 / 1000 BBB EUR 2.250 A Securitas Ab 14.03.18 4.2 100.43 2.15 130 Sweden Consumer XS0906420574 20'944'389 100000 / 1000 BB- B1 EUR 6.625 A Fiat Finance & Trade 15.03.18 3.7 103.68 5.67 482 Italy Automaker FR0011376201 20'260'324 100000 BB EUR 4.250 A Nexans Sa 19.03.18 4.0 101.00 3.99 315 France Industrial XS0606202454 12'748'342 1000 BBB+ EUR 4.125 A Suedzucker Int Finance 29.03.18 4.1 110.78 1.65 79 Germany Consumer XS0765621569 18'266'703 100000 / 1000 BB+ Ba1 EUR 5.750 A Arcelormittal 29.03.18 3.9 107.46 3.93 307 Luxembourg Basic Materials XS0911806692 21'052'210 200000 / 1000 BBB Baa3 EUR 3.125 A Gelf Bond Issuer I Sa 03.04.18 4.2 100.72 2.95 209 France REITS XS0767815599 18'305'767 100000 / 1000 BBB Baa2 EUR 4.625 A Glencore Finance Europe 03.04.18 4.1 108.05 2.73 186 Switzerland Basic Materials XS0501648371 11'208'381 50000 / 1000 BB+ Ba1 EUR 6.250 A Lafarge Sa 13.04.18 3.9 108.96 4.07 320 France Industrial XS0616395199 12'850'105 100000 / 1000 BBB Baa3 EUR 4.750 A Adecco Int Financial Svs 13.04.18 4.1 110.71 2.27 140 Switzerland Consumer XS0562670181 12'052'462 100000 / 1000 CCC+ Caa2 EUR 9.375 S Europcar Groupe Sa 15.04.18 2.6 100.08 9.35 910 France Consumer DE000A1KQ1E2 12'816'552 50000 / 1000 CCC+ Caa1 EUR 9.250 S Heidelberger Druckmaschi 15.04.18 2.9 103.75 8.25 762 Germany Industrial XS0842659343 19'782'209 100000 / 1000 BBB Baa2 EUR 3.625 A Enel Finance Intl Nv 17.04.18 4.2 103.65 2.77 189 Italy Utilities XS0843939918 19'803'202 100000 / 1000 BB Ba2 EUR 5.875 A Portugal Telecom Int Fin 17.04.18 3.9 102.50 5.24 437 Portugal TMT XS0617785943 12'868'260 100000 / 1000 Baa3 EUR 5.500 A Global Switch Holdings L 18.04.18 4.0 112.18 2.66 178 United Kingdom Tmt FR0011036979 12'868'280 100000 BB+ EUR 6.750 A Wendel Sa 20.04.18 3.9 112.76 3.69 282 France Industrial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

FR0011043124 12'979'967 100000 Baa3 EUR 4.875 A Valeo Sa 11.05.18 4.2 111.49 2.26 137 France Automaker XS0863116231 20'184'175 1000 BBB- Baa3 EUR 2.250 A Metro Finance Bv 11.05.18 4.4 101.72 1.86 98 Germany Consumer XS0923613060 21'256'755 100000 / 1000 B+ Ba3 EUR 4.250 S Schaeffler Finance Bv 15.05.18 3.3 100.54 4.12 354 Germany Automaker XS0932291007 21'413'159 100000 / 1000 BB- B1 EUR 8.250 S Frigoglass Finance Bv 15.05.18 3.1 106.13 6.70 587 Greece Industrial DE000A1PGPF8 18'596'471 1000 EUR 3.750 A Sixt Ag 16.05.18 4.2 104.82 2.64 175 Germany Consumer XS0626028566 13'028'202 1000 BBB- Ba1 EUR 5.000 A Gerresheimer Ag 19.05.18 4.2 110.20 2.66 177 Germany Industrial XS0933505967 21'412'302 100000 / 1000 BBB- Baa3 EUR 1.750 A Fce Bank Plc 21.05.18 4.4 98.31 2.13 124 USA Financial AT0000A0PHV9 13'053'624 1000 BBB- EUR 4.750 A Strabag Se 25.05.18 4.2 108.87 2.72 182 Austria Industrial XS0626691447 13'030'834 100000 / 1000 B3 EUR 8.875 S Pagesjaunes Finance & Co 01.06.18 3.6 91.35 11.27 1069 France TMT XS0633050736 13'107'915 100000 / 1000 B+ Ba3 EUR 8.000 S Xefin Lux Sca 01.06.18 0.7 109.13 5.77 334 Luxembourg Industrial XS0938218400 21'532'359 1000 EUR 2.250 A Stada Arzneimittel Ag 05.06.18 4.4 100.65 2.10 121 Germany Consumer XS0940685091 21'532'556 100000 / 1000 BBB+ EUR 3.125 A F Van Lanschot Bankiers 05.06.18 4.3 98.70 3.42 252 Netherlands Financial XS0941073420 21'556'088 100000 / 1000 B+ B1 EUR 6.000 S  Novalis Sas 15.06.18 2.5 103.75 5.10 472 France Industrial XS0794990050 18'832'495 100000 / 1000 BBB- Baa3 EUR 4.500 A Manpowergroup 22.06.18 4.3 107.83 2.73 183 USA Consumer BE0374557404 1'624'773 250000 / 1000 BBB+ Baa1 EUR 4.625 A Solvay S.A. 27.06.18 4.3 113.89 1.60 69 Belgium Basic Materials XS0637823864 13'192'026 100000 / 1000 BB+ Ba2 EUR 6.500 S Kabel Deutschland Gmbh 29.06.18 0.8 106.81 4.90 188 Germany TMT AT0000A0PQY4 13'247'037 1000 NR Ba2 EUR 5.250 A Wienerberger Ag 04.07.18 4.2 107.48 3.53 262 Austria Industrial XS0645669200 13'296'375 100000 / 1000 BBB Baa3 EUR 4.500 A Imperial Tobacco Finance 05.07.18 4.4 111.55 1.97 105 United Kingdom Consumer XS0647264398 13'325'612 100000 / 1000 BB- B1 EUR 7.375 A Fiat Finance & Trade 09.07.18 4.0 107.25 5.62 470 Italy Automaker XS0953199634 21'868'910 1000 BB Ba1 EUR 3.000 S Continental Ag 16.07.18 4.5 101.93 2.58 167 Germany Automaker XS0811603090 19'150'897 100000 / 1000 BBB Baa2 EUR 3.250 A Everything Everywhere Fi 03.08.18 4.5 103.20 2.55 162 United Kingdom TMT DE000A1R08U3 20'749'018 1000 BB Ba1 EUR 4.000 A Thyssenkrupp Ag 27.08.18 4.4 101.03 3.77 283 Germany Basic Materials FI4000068598 22'202'825 100000 / 1000 EUR 5.000 A Finnair Oyj 29.08.18 4.3 102.74 4.38 343 Finland Consumer XS0675221419 1'387'634 1000 BB+ Ba2 EUR 6.500 S Fmc Finance Viii Sa 15.09.18 4.2 116.31 2.98 205 Germany Consumer XS0830380639 19'503'317 100000 / 1000 BBB Baa2 EUR 2.500 A Anglo American Capital 18.09.18 4.6 99.66 2.57 162 United Kingdom Basic Materials FR0011119775 13'916'555 100000 BBB+ Baa1 EUR 4.000 A Autoroutes Du Sud De La 24.09.18 4.5 110.16 1.87 92 France Consumer CH0222437011 22'243'701 1000 EUR 5.250 A Htm Sport Gmbh 26.09.18 Netherlands Consumer XS0544395808 11'796'153 100000 / 1000 Bu B3 EUR 9.000 S  Picard Bondco 01.10.18 1.0 110.24 6.59 318 France Consumer XS0838764685 19'688'273 1000 EUR 4.000 A Voestalpine Ag 05.10.18 4.4 104.24 3.09 212 Austria Basic Materials FR0010948240 11'820'649 100000 BBB Baa3 EUR 3.625 A Alstom 05.10.18 4.5 104.82 2.60 164 France Industrial XS0546725358 11'826'525 50000 / 1000 BBB Baa2 EUR 4.000 A Compagnie De St Gobain 08.10.18 4.5 108.63 2.19 123 France Industrial XS0767977811 18'309'495 100000 BBB Baa1 EUR 4.250 A Iberdrola Intl Bv 11.10.18 4.4 107.40 2.68 171 Spain Utilities DE000A1A1P25 11'126'051 50000 / 1000 BB Ba1 EUR 7.125 S C Conti-Gummi Finance B.V. 15.10.18 0.1 104.26 6.14 -128 Germany Automaker BE0002178441 13'987'326 1000 EUR 4.250 A Delhaize Group 19.10.18 4.5 107.82 2.60 163 Belgium Consumer XS0694766279 14'115'599 100000 / 1000 BBB NR EUR 5.250 A Carrefour Sa 24.10.18 4.4 115.75 1.99 102 France Consumer XS0695401801 14'131'101 100000 / 1000 BBB Baa2 EUR 5.750 A Enel Finance Intl Nv 24.10.18 4.3 112.83 3.01 204 Italy Utilities XS0697395472 14'219'472 100000 / 1000 BBB+ Baa1 EUR 3.375 A Tesco Plc 02.11.18 4.6 107.54 1.83 85 United Kingdom Consumer FR0010893396 11'291'263 50000 BBB- EUR 4.481 A Casino Guichard Perracho 12.11.18 4.5 110.21 2.36 138 France Consumer XS0857215346 20'051'749 100000 / 1000 BBB Baa2 EUR 2.625 A Xstrata Finance Dubai Lt 19.11.18 4.7 98.75 2.89 190 Switzerland Basic Materials XS0562783034 12'052'118 50000 / 1000 BB+ Ba1 EUR 6.625 A Lafarge Sa 29.11.18 4.2 110.53 4.33 334 France Industrial FR0011157742 14'257'587 100000 BBB Baa2 EUR 4.875 A Vivendi Sa 30.11.18 4.5 112.33 2.34 135 France TMT XS0862010625 20'145'497 100000 / 1000 BBB- EUR 2.625 A G4S Intl Finance Plc 06.12.18 4.7 98.79 2.87 188 United Kingdom Consumer XS0686703736 13'994'137 50000 NR Ba2 EUR 9.500 S Heidelbergcement Fin Lux 15.12.18 4.3 127.26 3.76 279 Germany Industrial XS0629656496 13'093'227 100000 / 1000 BB Ba3 EUR 7.000 S Rexel Sa 17.12.18 1.7 109.81 4.87 299 France Industrial XS0548102531 11'866'205 100000 / 1000 B- B3 EUR 8.500 S Sunrise Communications H 31.12.18 1.2 108.35 6.61 487 Switzerland TMT FR0011164664 14'506'807 100000 BBB Baa2 EUR 5.000 A Eutelsat Sa 14.01.19 4.6 112.29 2.52 150 France TMT FR0011536614 21'869'253 100000 BBB Baa2 EUR 2.375 A Vivendi Sa 21.01.19 5.0 99.64 2.45 143 France TMT XS0736488585 14'799'615 100000 BBB+ Baa2 EUR 5.000 A Crh Finance Bv 25.01.19 4.7 113.37 2.33 131 Ireland Industrial XS0733696495 14'751'980 100000 BBB- Baa3 EUR 4.875 A Repsol Intl Finance 19.02.19 4.7 109.59 2.94 191 Spain Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

DE000A1MA9K8 18'059'344 1000 BBB- Baa3 EUR 3.375 A Metro Ag 01.03.19 4.9 105.59 2.28 124 Germany Consumer XS0753190296 18'115'093 100000 / 1000 BB- B1 EUR 6.750 S Gategroup Finance Lux Sa 01.03.19 3.8 103.03 6.09 523 Switzerland Transportation XS0754290459 18'102'517 100000 / 1000 BB Ba2 EUR 5.500 A Stora Enso Oyj 07.03.19 4.6 105.12 4.43 338 Finland Basic Materials FR0011441831 20'863'967 100000 EUR 4.250 A  Rallye Sa 11.03.19 4.8 101.80 3.88 283 France Consumer FR0011452291 20'975'813 100000 BBB- EUR 2.500 A Accor Sa 21.03.19 5.0 98.74 2.75 170 France Consumer FR0011223692 18'216'575 100000 BBB EUR 4.125 A Mercialys Sa 26.03.19 4.9 107.75 2.60 155 France REITS FR0011233337 18'353'111 100000 BBB Baa2 EUR 4.750 A Gecina 11.04.19 4.9 111.14 2.58 152 France REITS XS0618662562 12'892'804 100000 / 1000 CCC+ Caa2 EUR 8.875 S Cma Cgm 15.04.19 4.1 94.75 10.12 932 France Transportation XS0759200321 18'252'546 1000 BB+ Ba1 EUR 4.250 S Fresenius Finance Bv 15.04.19 4.9 107.70 2.76 172 Germany Consumer XS0615238630 12'894'372 100000 / 1000 BB Ba2 EUR 6.750 S Goodyear Dunlop Tires 15.04.19 1.5 108.20 5.05 332 USA Automaker FR0011236983 18'416'704 1000 BBB EUR 3.125 A Kering 23.04.19 5.1 105.01 2.17 110 France Consumer FR0011242460 18'440'227 100000 EUR 4.750 A Galeries Lafayette 26.04.19 4.8 106.13 3.53 246 France Consumer AT0000A0V7D8 18'531'930 1000 BBB- EUR 4.250 A Strabag Se 10.05.19 5.0 106.62 2.96 189 Austria Industrial XS0934191114 21'418'446 100000 / 1000 BBB NR EUR 1.750 A Carrefour Sa 22.05.19 5.3 97.91 2.14 106 France Consumer XS0789283792 18'716'951 100000 / 1000 BBB Baa2 EUR 2.750 A Anglo American Capital 07.06.19 5.2 98.71 3.00 191 United Kingdom Basic Materials XS0778917814 18'510'846 100000 / 1000 B3 EUR 8.750 S Faurecia 15.06.19 2.8 114.04 5.85 543 France Automaker XS0652911776 18'584'443 100000 / 1000 B+ B1 EUR 7.500 S Carlson Wagonlit Bv 15.06.19 3.9 105.88 6.27 525 Netherlands Consumer AT0000A0VL70 18'894'716 1000 EUR 4.000 A Borealis Ag 02.07.19 5.1 104.65 3.11 201 Germany Basic Materials XS0800572454 18'923'814 100000 / 1000 Baa2 EUR 2.625 A Carlsberg Breweries A/S 03.07.19 5.3 101.94 2.26 116 Denmark Consumer XS0801954867 18'971'007 100000 / 1000 BB+ Ba1 EUR 5.875 A  Lafarge Sa 09.07.19 4.9 108.06 4.28 318 France Industrial FR0011301480 19'158'979 100000 BBB- EUR 3.157 A Casino Guichard Perracho 06.08.19 5.3 102.38 2.72 160 France Consumer XS0821175717 19'335'071 100000 / 1000 EUR 3.375 A Ap Moller-Maersk A/S 28.08.19 5.4 103.21 2.79 165 Denmark Transportation XS0447977801 10'518'171 1000 EUR 5.250 A Fraport Ag 10.09.19 5.0 115.54 2.44 130 Germany Industrial FR0011321256 19'483'624 100000 BB+ EUR 5.875 A  Wendel Sa 17.09.19 4.8 108.14 4.31 317 France Industrial FI4000047360 19'506'219 100000 / 1000 EUR 4.000 A Neste Oil Oyj 18.09.19 5.1 102.44 3.54 240 Finland Energy XS0832466931 19'506'219 100000 / 1000 BBB- EUR 3.375 A Rentokil Initial Plc 24.09.19 5.3 102.32 2.95 180 United Kingdom Consumer XS0834382151 19'615'388 100000 / 1000 Baa2 EUR 2.750 A Hammerson Plc 26.09.19 5.4 101.47 2.49 134 United Kingdom REITS XS0683564156 13'945'445 100000 / 1000 BBB Baa2 EUR 4.500 A Compagnie De St Gobain 30.09.19 5.1 110.46 2.61 146 France Industrial XS0836360254 19'667'645 100000 / 1000 BBB Baa2 EUR 2.250 A Elisa Oyj 04.10.19 5.5 99.42 2.35 120 Finland TMT XS0838968849 19'694'824 100000 / 1000 BBB Baa2 EUR 2.750 A Metso Oyj 04.10.19 5.4 99.46 2.85 170 Finland Industrial XS0841018004 19'734'007 100000 / 1000 BBB Baa2 EUR 2.875 A Origin Energy Finance 11.10.19 5.4 100.35 2.81 166 Australia Utilities XS0953215349 21'869'248 100000 / 1000 BB- B1 EUR 6.750 A Fiat Finance & Trade 14.10.19 4.9 103.78 5.99 484 Italy Automaker FR0010957662 11'947'195 50000 BBB+ EUR 3.641 A Bouygues Sa 29.10.19 5.4 107.14 2.38 121 France Industrial XS0458685913 10'665'422 1000 NR Ba2 EUR 8.500 S Heidelbergcement Fin Lux 31.10.19 4.8 123.96 4.06 293 Germany Industrial XS0847087714 19'893'770 1000 EUR 3.875 A Otto Gmbh & Co Kg 01.11.19 5.3 103.01 3.33 216 Germany Consumer XS0462994343 10'692'036 50000 / 1000 BB Ba2 EUR 5.000 A Portugal Telecom Int Fin 04.11.19 5.0 98.28 5.33 416 Portugal TMT DE000A1R0U23 19'985'162 1000 EUR 2.125 A Sap Ag 13.11.19 5.7 100.31 2.07 90 Germany Industrial XS0467785613 10'744'818 50000 / 1000 BB Ba2 EUR 7.750 S Smurfit Kappa Acquisitio 15.11.19 1.1 109.06 5.98 298 Ireland Basic Materials XS0808637309 20'012'526 100000 / 1000 BB- Ba3 EUR 6.125 S Rottapharm Ltd 15.11.19 4.3 101.68 5.80 484 Ireland Consumer XS0953093308 21'857'612 100000 / 1000 BBB Baa3 EUR 2.750 A C Adecco Int Financial Svs 15.11.19 5.6 99.40 2.86 168 Switzerland Consumer XS0856023493 20'029'028 100000 / 1000 BBB+ Baa3 EUR 4.375 A Esb Finance Limited 21.11.19 5.3 108.52 2.86 168 Ireland Utilities XS0858089740 20'074'514 100000 / 1000 BBB Baa2 EUR 2.375 A Volvo Treasury Ab 26.11.19 5.6 99.01 2.55 137 Sweden Automaker FR0010830034 10'777'248 50000 BBB Baa2 EUR 4.875 A Vivendi Sa 02.12.19 5.3 112.85 2.61 143 France TMT XS0715437140 14'432'320 100000 / 1000 BBB Baa3 EUR 5.000 A Imperial Tobacco Finance 02.12.19 5.3 115.05 2.38 119 United Kingdom Consumer XS0473114543 10'812'829 50000 / 1000 BB+ Ba1 EUR 6.750 A Lafarge Sa 16.12.19 4.9 110.76 4.72 353 France Industrial FR0011365220 20'125'254 100000 BBB Baa2 EUR 2.500 A Vivendi Sa 15.01.20 5.7 98.60 2.74 153 France TMT XS0842214818 19'763'115 100000 BBB Baa2 EUR 4.710 A Telefonica Emisiones Sau 20.01.20 5.3 105.95 3.64 244 Spain TMT XS0875513268 20'502'086 1000 Baa2 EUR 2.375 A Hella Kgaa Hueck & Co 24.01.20 5.8 99.28 2.50 129 Germany Automaker XS0829360923 19'493'285 100000 BBB Baa2 EUR 6.000 A Gas Natural Capital 27.01.20 5.2 113.96 3.52 231 Spain Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0880132989 20'550'430 100000 / 1000 BB Ba2 EUR 4.125 S  Smurfit Kappa Acquisitio 30.01.20 5.5 98.50 4.40 323 Ireland Basic Materials DE000A1R02E0 20'678'213 1000 BB+ Ba2 EUR 3.875 A Hornbach Baumarkt Ag 15.02.20 5.5 101.57 3.59 237 Germany Industrial XS0742407983 14'942'190 100000 / 1000 CCC+ B3 EUR 8.250 S Matterhorn Mobile Hldgs 15.02.20 3.7 107.25 6.84 563 United Kingdom TMT BE0002189554 20'084'004 100000 BBB- Baa3 EUR 3.125 A Delhaize Group 27.02.20 5.7 102.59 2.68 145 Belgium Consumer FR0011439900 20'830'602 100000 BB+ Ba3 EUR 4.250 A C  Tereos Finance Group I 04.03.20 5.4 98.33 4.55 332 France Consumer XS0860855930 20'137'862 100000 BBB- Baa3 EUR 3.500 A Gtech Spa 05.03.20 5.7 102.73 3.03 179 Italy Consumer FR0011215508 18'112'491 100000 BBB- EUR 3.994 A Casino Guichard Perracho 09.03.20 5.6 106.33 2.91 167 France Consumer XS0827692269 19'432'958 100000 / 1000 BBB Baa2 EUR 4.875 A Enel Finance Intl Nv 11.03.20 5.4 106.90 3.66 243 Italy Utilities XS0495219874 11'126'048 50000 / 1000 BB B2 EUR 7.875 S Stena Ab 15.03.20 5.0 111.04 5.82 466 Sweden Industrial FR0010870949 11'121'739 50000 BBB Baa3 EUR 4.500 A Alstom 18.03.20 5.5 107.53 3.20 196 France Industrial DE000A1TM5X8 20'960'990 1000 EUR 3.875 A  Hochtief Ag 20.03.20 5.6 100.55 3.78 253 Germany Industrial XS0909788613 21'014'570 100000 / 1000 BBB- Baa3 EUR 3.625 A Ziggo Bv 27.03.20 5.6 99.30 3.74 250 Netherlands TMT FR0011225127 18'238'035 100000 BBB+ Baa1 EUR 3.375 A Vinci Sa 30.03.20 5.8 106.18 2.35 110 France Industrial XS0906984272 20'969'484 100000 / 1000 B+ EUR 6.750 S Cegedim Sa 01.04.20 5.1 97.75 7.18 607 USA Consumer XS0478803355 10'912'828 1000 NR Ba2 EUR 7.500 S  Heidelbergcement Fin Lux 03.04.20 5.2 118.54 4.24 304 Germany Industrial XS0911405784 21'044'223 1000 BBB+ Baa2 EUR 1.875 A Evonik Industries Ag 08.04.20 6.1 97.93 2.21 96 Germany Basic Materials XS0499243300 11'175'395 50000 / 1000 BBB NR EUR 4.000 A Carrefour Sa 09.04.20 5.7 108.97 2.51 125 France Consumer FR0010883058 11'189'695 50000 BBB+ Baa1 EUR 4.125 A Autoroutes Du Sud De La 13.04.20 5.7 110.76 2.34 109 France Consumer XS0918548644 21'226'581 100000 / 1000 BB+ Ba1 EUR 4.625 S Softbank Corp 15.04.20 5.6 101.25 4.40 320 Japan TMT AT0000A100E2 21'153'289 1000 Ba2 EUR 4.000 A Wienerberger Ag 17.04.20 5.6 100.25 3.95 270 Austria Industrial XS0918754895 21'172'311 100000 / 1000 BBB- EUR 4.000 A  Atrium European Real Est 20.04.20 5.6 100.39 3.93 267 Austria Real Estate XS0619706657 12'886'008 100000 BBB Baa2 EUR 4.875 A Red Electrica Fin Sa Uni 29.04.20 5.6 108.91 3.35 209 Spain Utilities XS0927581842 21'311'655 100000 / 1000 BB Ba2 EUR 4.625 A Portugal Telecom Int Fin 08.05.20 5.5 94.36 5.66 439 Portugal TMT DE000A1TNA88 21'327'294 100000 / 1000 B+ B2 EUR 6.500 S Wepa Hygieneprodukte Gmb 15.05.20 4.7 105.62 5.48 433 Germany Basic Materials AT0000A109Z8 21'355'633 1000 BBB- EUR 3.000 A Strabag Se 21.05.20 5.9 100.21 2.96 169 Austria Industrial XS0933604943 21'412'352 100000 BBB- Baa3 EUR 2.625 A Repsol Intl Finance 28.05.20 6.0 96.10 3.28 200 Spain Energy FR0011502830 21'472'210 100000 EUR 2.875 A Compagnie Plastic-Omnium 29.05.20 5.9 95.28 3.68 240 France Automaker XS0840521677 19'734'636 100000 / 1000 BB+ EUR 5.500 S Spcm Sa 15.06.20 2.6 107.92 4.15 308 France Basic Materials XS0908821639 21'007'044 100000 / 1000 BB Ba3 EUR 5.125 S Rexel Sa 15.06.20 4.9 102.70 4.65 354 France Industrial XS0937169570 21'495'955 100000 / 1000 B EUR 7.750 S Thomas Cook Finance Plc 15.06.20 3.9 100.70 7.61 681 United Kingdom Consumer XS0944362812 21'620'000 100000 / 1000 BBB Baa1 EUR 2.375 A C Coca-Cola Hbc Finance Bv 18.06.20 6.2 99.01 2.54 125 Greece Consumer XS0946179529 21'659'983 100000 / 1000 BBB- Baa3 EUR 3.750 A Citycon Oyj 24.06.20 5.9 99.93 3.76 247 Finland Real Estate BE6254681248 21'738'875 100000 Baa1 EUR 3.250 A Brussels Airport Holding 01.07.20 6.0 103.60 2.66 137 Belgium Industrial FR0011535764 21'858'281 100000 BBB EUR 2.500 A Kering 15.07.20 6.2 100.09 2.49 118 France Consumer XS0811554962 19'151'068 100000 / 1000 BBB+ Baa1 EUR 2.125 A Heineken Nv 04.08.20 6.3 98.65 2.34 102 Netherlands Consumer FR0011560986 22'252'293 100000 EUR 3.250 A Areva Sa 04.09.20 6.2 99.58 3.32 199 France Energy XS0825829590 19'395'461 100000 / 1000 BBB Baa2 EUR 2.625 A Holcim Us Finance Sarl & 07.09.20 6.2 99.76 2.66 133 Switzerland Industrial XS0543354236 11'764'663 50000 / 1000 BBB- Baa2 EUR 3.750 A Koninklijke Kpn Nv 21.09.20 6.0 104.63 3.01 167 Netherlands TMT XS0920705737 21'196'990 100000 / 1000 BBB Baa2 EUR 2.500 A Origin Energy Finance 23.10.20 6.3 95.68 3.19 183 Australia Utilities XS0699330097 14'181'914 1000 Baa1 EUR 4.125 A Ewe Ag 04.11.20 6.0 109.95 2.58 122 Germany Utilities XS0940711947 21'532'562 100000 BBB Baa1 EUR 2.875 A Iberdrola Intl Bv 11.11.20 6.3 97.58 3.26 189 Spain Utilities XS0555929263 11'964'308 100000 / 1000 B+ B1 EUR 6.375 S Telenet Finance Lux 15.11.20 2.0 105.50 5.44 485 United Kingdom TMT BE6242927075 19'488'047 100000 EUR 2.125 A Apetra Nv 17.12.20 6.6 99.97 2.13 74 Belgium Energy XS0811124790 19'141'456 100000 / 1000 BBB- Baa2 EUR 3.250 A Koninklijke Kpn Nv 01.02.21 6.4 100.34 3.20 178 Netherlands TMT XS0879869187 20'524'513 100000 BBB Baa1 EUR 3.500 A Iberdrola Intl Bv 01.02.21 6.3 100.61 3.40 199 Spain Utilities XS0576395478 12'414'129 1000 BB+ Ba2 EUR 5.250 S Fresenius Medical Care 15.02.21 6.2 110.23 3.67 228 Germany Consumer XS0896119384 20'784'594 100000 / 1000 BBB+ Baa2 EUR 3.250 A Corio Nv 26.02.21 6.4 98.28 3.51 208 Netherlands REITS XS0600056641 12'621'646 100000 / 1000 BBB Baa2 EUR 4.750 A Ses 11.03.21 6.3 113.94 2.67 124 Luxembourg TMT FR0010941690 11'744'105 50000 BBB- EUR 3.500 A Areva Sa 22.03.21 6.4 101.04 3.34 190 France Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0907289978 20'968'887 100000 BBB Baa2 EUR 3.961 A  Telefonica Emisiones Sau 26.03.21 6.3 99.69 4.01 256 Spain TMT XS0908230781 20'998'291 100000 / 1000 BB+ Ba2 EUR 4.875 S Oi European Group Bv 31.03.21 6.2 101.87 4.58 318 USA Industrial XS0911691003 21'044'583 100000 / 1000 BBB+ Baa1 EUR 2.000 A Heineken Nv 06.04.21 6.9 96.76 2.47 102 Netherlands Consumer XS0923361827 21'241'433 100000 / 1000 BBB Baa2 EUR 2.500 A Anglo American Capital 29.04.21 6.7 92.85 3.58 212 United Kingdom Basic Materials XS0552915943 11'928'411 100000 / 1000 BB Ba2 EUR 6.125 S Bombardier Inc 15.05.21 6.0 105.48 5.25 384 Canada Industrial FR0011052661 13'064'650 100000 BBB- EUR 4.726 A Casino Guichard Perracho 26.05.21 6.4 109.96 3.24 176 France Consumer XS0942100388 21'577'000 100000 / 1000 BBB Baa3 EUR 3.875 A Nasdaq Omx Group 07.06.21 6.6 103.42 3.37 188 USA Financial XS0791007734 18'749'133 100000 / 1000 BBB Baa2 EUR 3.625 A Compagnie De St Gobain 15.06.21 6.7 103.39 3.13 163 France Industrial BE6222320614 13'175'819 100000 / 1000 BB+ Ba1 EUR 5.625 A Barry Callebaut Svcs Nv 15.06.21 6.2 109.27 4.20 271 Switzerland Consumer FR0011075043 13'300'052 100000 Baa2 EUR 4.339 A Total Infrastructures Ga 07.07.21 6.6 109.41 2.97 147 France Energy XS0647298883 13'326'967 100000 / 1000 BBB Baa2 EUR 5.000 A Enel Finance Intl Nv 12.07.21 6.4 106.81 3.97 246 Italy Utilities FR0011076462 13'312'645 100000 BBB Baa2 EUR 4.750 A Vivendi Sa 13.07.21 6.6 111.64 3.06 155 France TMT XS0677389347 13'833'272 100000 / 1000 BBB- Baa2 EUR 4.500 A Koninklijke Kpn Nv 04.10.21 6.5 108.14 3.33 178 Netherlands TMT XS0271758301 2'746'271 50000 NR Baa3 EUR 4.875 A Hit Finance Bv 27.10.21 6.5 108.66 3.63 205 France Consumer XS0473783891 10'820'440 50000 / 1000 BBB+ Baa1 EUR 4.875 A Dong Energy A/S 16.12.21 6.7 115.41 2.77 116 Denmark Utilities XS0458887030 10'667'485 50000 / 1000 BB+ Baa3 EUR 5.250 A Finmeccanica Finance 21.01.22 6.5 101.88 4.97 334 Italy Industrial XS0876289652 20'456'049 100000 BBB Baa2 EUR 3.875 A Red Electrica Finance Bv 25.01.22 6.9 100.50 3.80 217 Spain Utilities XS0752092311 18'059'529 100000 / 1000 BBB- Baa2 EUR 4.250 A Koninklijke Kpn Nv 01.03.22 7.0 105.68 3.46 181 Netherlands TMT XS0752467497 18'066'932 100000 / 1000 BBB Baa2 EUR 3.750 A Tdc A/S 02.03.22 7.1 106.40 2.89 124 Denmark TMT XS0760364116 18'193'223 100000 / 1000 BBB Baa2 EUR 3.625 A Compagnie De St Gobain 28.03.22 7.2 102.65 3.26 159 France Industrial XS0764637194 18'240'555 100000 / 1000 BBB Baa2 EUR 3.500 A Anglo American Capital 28.03.22 7.1 97.58 3.83 217 United Kingdom Basic Materials XS0767278301 18'294'770 1000 BBB Baa1 EUR 4.000 A Telekom Finanzmanagement 04.04.22 7.1 105.82 3.21 154 Austria TMT XS0914400246 21'087'419 100000 BBB Baa2 EUR 3.875 A Gas Natural Fenosa Finan 11.04.22 7.1 98.69 4.06 238 Spain Utilities XS0794245018 18'816'730 100000 BBB+ NR EUR 3.000 A Orange Sa 15.06.22 7.6 100.82 2.89 117 France TMT DE000A1PGZ82 18'823'957 100000 BBB+ Baa2 EUR 3.000 A K+S Ag 20.06.22 7.5 96.39 3.48 176 Germany Basic Materials XS0795877454 18'864'132 1000 NR Baa1 EUR 2.950 A Deutsche Post Finance 27.06.22 7.7 103.12 2.55 82 Germany Transportation XS0525787874 11'519'837 1000 BBB+ Baa1 EUR 4.250 A Deutsche Telekom Int Fin 13.07.22 7.4 111.61 2.75 102 Germany TMT XS0809847667 19'108'256 100000 / 1000 BBB+ Baa1 EUR 2.625 A Akzo Nobel Sweden Financ 27.07.22 7.8 97.88 2.90 115 Netherlands Basic Materials XS0811690550 19'150'879 100000 BBB+ Baa1 EUR 2.625 A Bertelsmann Se & Co Kgaa 02.08.22 7.8 98.76 2.78 104 Germany TMT XS0829114999 19'491'030 100000 / 1000 BBB+ Baa1 EUR 2.625 A Dong Energy A/S 19.09.22 7.7 97.71 2.92 114 Denmark Utilities BE0000325341 14'789'038 0.01 EUR 4.250 A Belgium Kingdom 28.09.22 7.3 113.17 2.60 82 Belgium Government FR0011339746 19'718'878 100000 BBB Baa2 EUR 3.125 A Eutelsat Sa 10.10.22 7.6 98.12 3.37 158 France TMT XS0855167523 20'018'817 1000 BBB Baa2 EUR 2.625 A Lanxess Finance Bv 21.11.22 7.9 96.85 3.02 121 Germany Basic Materials XS0862322947 20'158'556 100000 / 1000 B+ Ba3 EUR 5.750 S  Unitymedia Hessen / Nrw 15.01.23 7.1 98.50 5.96 421 United Kingdom TMT XS0875343757 20'434'061 100000 BBB Baa2 EUR 3.875 A Gas Natural Fenosa Finan 17.01.23 7.5 97.88 4.15 231 Spain Utilities FR0011394907 20'456'672 100000 BBB+ Baa1 EUR 2.875 A Autoroutes Du Sud De La 18.01.23 8.0 100.29 2.84 99 France Consumer XS0874864860 20'423'625 100000 BBB Baa2 EUR 3.987 A Telefonica Emisiones Sau 23.01.23 7.5 97.02 4.38 253 Spain TMT FR0011400571 20'515'434 100000 BBB- EUR 3.311 A Casino Guichard Perracho 25.01.23 7.8 97.66 3.61 176 France Consumer XS0909769407 21'015'818 100000 / 1000 B B2 EUR 6.750 S Upc Holding Bv 15.03.23 6.7 98.74 6.93 518 United Kingdom TMT IE00B4S3JD47 20'958'462 0.01 BBB+ Ba1 EUR 3.900 A Irish Tsy 3.9% 2023 20.03.23 7.7 98.34 4.11 223 Ireland Government XS0907301260 20'966'282 100000 / 1000 NR Baa1 EUR 2.875 A Wolters Kluwer Nv 21.03.23 8.1 99.19 2.97 109 Netherlands TMT XS0842659426 19'783'104 100000 / 1000 BBB Baa2 EUR 4.875 A Enel Finance Intl Nv 17.04.23 7.5 103.42 4.43 253 Italy Utilities FR0011502814 21'471'299 100000 BBB Baa2 EUR 2.875 A Gecina 30.05.23 8.2 94.81 3.51 160 France REITS XS0942094805 21'566'006 100000 / 1000 BBB+ Baa1 EUR 2.500 A Svenska Cellulosa Ab 09.06.23 8.5 97.20 2.83 92 Sweden Basic Materials XS0950055359 21'765'675 100000 BBB Baa1 EUR 3.500 A Telekom Finanzmanagement 04.07.23 8.1 99.97 3.50 158 Austria TMT FR0011538222 21'892'988 100000 BBB+ EUR 4.625 A Bpce Sa 18.07.23 7.7 99.64 4.67 274 France Financial FR0011560077 22'235'076 100000 BBB+ EUR 3.125 A Orange Sa 09.01.24 8.7 99.08 3.23 127 France TMT XS0758420748 18'171'675 1000 BBB+ Baa1 EUR 3.500 A Heineken Nv 19.03.24 8.6 104.90 2.95 96 Netherlands Consumer XS0847580353 19'860'115 1000 BBB+ Baa1 EUR 2.750 A Deutsche Telekom Int Fin 24.10.24 9.2 97.66 3.00 95 Germany TMT

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

FR0011224963 18'227'898 100000 BBB+ Baa1 EUR 4.625 A Veolia Environnement 30.03.27 9.9 107.53 3.90 163 France Utilities XS0875797515 20'446'408 1000 BBB+ Baa1 EUR 3.250 A Deutsche Telekom Int Fin 17.01.28 11.1 99.50 3.29 95 Germany TMT

XS0230363805 2'280'910 1000 BBB+ Baa1 GBP 4.875 A Deutsche Telekom Int Fin 23.09.14 1.0 103.99 1.03 65 Germany TMT XS0417033007 10'005'008 50000 / 1000 BBB- Baa1 GBP 5.375 S Mondelez International 11.12.14 1.2 104.90 1.45 105 USA Consumer XS0559319172 12'007'822 50000 BBB- Baa3 GBP 5.125 A Fce Bank Plc 16.11.15 2.0 107.64 1.56 104 USA Financial XS0466117057 10'728'403 50000 / 1000 BBB+ Baa1 GBP 5.375 A London Power Networks 11.11.16 2.9 111.05 1.77 88 United Kingdom Utilities XS0466169876 10'727'318 50000 / 1000 BB+ Ba1 GBP 7.125 S William Hill Plc 11.11.16 2.8 111.48 3.29 241 United Kingdom Consumer XS0275432358 2'788'222 50000 BBB Baa3 GBP 5.500 A Imperial Tobacco Finance 22.11.16 2.9 110.76 2.01 110 United Kingdom Consumer XS0472569416 10'805'637 50000 / 1000 BBB GBP 6.000 A Intercontinental Hotels 09.12.16 2.9 112.61 1.97 104 United Kingdom Consumer XS0473964764 10'822'860 50000 / 1000 BBB- Baa2 GBP 5.750 A Stagecoach Group Plc 16.12.16 2.9 110.74 2.31 137 United Kingdom Transportation XS0746650984 14'969'887 100000 / 1000 BBB- Baa3 GBP 4.825 A Fce Bank Plc 15.02.17 3.1 108.53 2.22 120 USA Financial XS0555678597 11'980'074 50000 / 1000 Ba3 GBP 7.125 S Heathrow Finance Plc 01.03.17 3.1 108.05 4.60 358 United Kingdom Industrial XS0462854687 10'699'632 50000 / 1000 Baa2 GBP 5.500 S Phoenix Natural Gas Fin 10.07.17 3.5 110.76 2.54 134 United Kingdom Energy XS0158276708 1'518'608 1000 BB+ Ba1 GBP 6.625 A  Lafarge Sa 29.11.17 3.5 109.75 4.06 266 France Industrial XS0921284666 21'212'428 1000 BBB Baa3 GBP 3.250 A  Rci Banque Sa 25.04.18 4.2 99.79 3.30 176 France Financial XS0637514489 13'192'589 100000 / 1000 B+ B3 GBP 9.250 S C Aston Martin Capital Ltd 15.07.18 3.2 106.46 7.63 609 United Kingdom Automaker XS0539845684 11'716'748 50000 / 1000 BBB GBP 6.250 A Heathrow Funding Ltd 10.09.18 4.1 113.90 3.21 154 United Kingdom Industrial XS0460691966 10'683'393 50000 / 1000 BBB Baa1 GBP 5.125 A Southern Gas Network Plc 02.11.18 4.4 112.37 2.53 84 United Kingdom Energy XS0288783979 2'949'246 50000 BBB Baa2 GBP 6.500 A Glencore Finance Europe 27.02.19 4.5 111.07 4.19 239 Switzerland Basic Materials XS0764313291 18'238'771 100000 / 1000 BBB Baa2 GBP 4.375 A Everything Everywhere Fi 28.03.19 4.8 101.62 4.04 222 United Kingdom TMT XS0612409184 12'821'107 100000 / 1000 B1 GBP 7.750 S Thames Water Kemble Fina 01.04.19 4.4 109.04 5.83 405 United Kingdom Financial XS0471074582 10'780'994 50000 / 1000 BBB- Baa3 GBP 6.125 A Marks & Spencer Plc 02.12.19 5.0 111.30 4.04 205 United Kingdom Consumer XS0765386627 18'270'688 100000 / 1000 BB Ba3 GBP 8.250 S Jaguar Land Rover Automo 15.03.20 2.2 111.50 6.09 428 United Kingdom Automaker XS0759599409 18'178'180 100000 / 1000 BBB GBP 6.000 A Heathrow Funding Ltd 20.03.20 5.3 112.25 3.84 177 United Kingdom Industrial XS0941604307 21'551'800 100000 / 1000 BB+ Ba1 GBP 4.250 S William Hill Plc 05.06.20 5.7 96.08 4.94 285 United Kingdom Consumer XS0850236596 19'924'291 100000 / 1000 B B2 GBP 5.125 S Virgin Media Finance Plc 15.02.22 6.7 95.67 5.78 327 United Kingdom TMT XS0767865263 18'310'127 100000 / 1000 BBB Baa2 GBP 6.000 A Glencore Finance Europe 03.04.22 6.5 107.18 4.95 234 Switzerland Basic Materials XS0789683462 18'737'351 100000 / 1000 BBB+ Baa2 GBP 4.125 A Bae Systems Plc 08.06.22 7.2 101.14 3.97 134 United Kingdom Industrial XS0859098351 20'085'071 100000 / 1000 BBB GBP 3.875 A Intercontinental Hotels 28.11.22 7.4 99.67 3.92 118 United Kingdom Consumer XS0859438557 20'104'808 100000 / 1000 BBB- GBP 5.250 A Firstgroup Plc 29.11.22 6.9 102.17 4.95 219 United Kingdom Transportation XS0593952111 12'514'821 100000 / 1000 BBB Baa2 GBP 5.625 A Tdc A/S 23.02.23 7.2 111.55 4.12 134 Denmark TMT XS0858000606 20'074'726 100000 / 1000 BBB Baa2 GBP 4.250 A Apt Pipelines Ltd 26.11.24 8.5 98.91 4.37 138 Australia Utilities XS0633547087 13'117'899 100000 / 1000 BBB+ GBP 6.375 A Nie Finance Plc 02.06.26 8.9 116.50 4.63 151 Ireland Utilities XS0683568223 13'941'780 100000 / 1000 BBB Baa3 GBP 5.500 A Imperial Tobacco Finance 28.09.26 9.0 110.15 4.46 131 United Kingdom Consumer

XS0906452007 20'947'428 1000000 / 10000 BBB Baa2 NOK 4.000 A Compagnie De St Gobain 27.03.18 4.0 100.95 3.76 150 France Industrial XS0945403649 21'680'046 10000 Baa2 NOK 3.000 A Citigroup Inc 25.06.18 4.4 97.10 3.67 135 USA Financial

XS0968941988 22'248'528 2000 NZD 5.750 A Abn Amro Bank Nv 12.09.18 4.2 99.54 5.86 180 Netherlands Financial

XS0968975705 22'252'079 1000000 SEK 2.500 A Volvo Treasury Ab 12.01.16 2.3 100.13 2.45 108 Sweden Automaker XS0940437352 21'527'559 1000000 / 100000 SEK 3.250 A Arla Foods Finance 04.06.18 4.3 96.60 4.05 221 Danemark Consumer

USF0819HE293 12'784'753 2000 / 1000 BB+ Ba1 USD 3.375 S Banque Psa Finance 04.04.14 0.6 101.09 1.48 141 France Financial USF7806FQE45 12'836'416 2000 / 1000 BBB Baa3 USD 3.400 S Rci Banque Sa 11.04.14 0.6 101.16 1.44 138 France Financial USG4721SAP68 10'541'243 75000 / 1000 BBB Baa1 USD 3.800 S Iberdrola Fin Ireland 11.09.14 1.0 102.56 1.25 113 Spain Utilities USL2967VEB73 10'633'078 100000 / 1000 BBB Baa2 USD 3.875 S Enel Finance Intl Nv 07.10.14 1.1 102.71 1.36 121 Italy Utilities USC98874AF43 14'269'122 2000 / 1000 BBB Baa2 USD 2.850 S Xstrata Finance Canada 10.11.14 1.1 101.27 1.76 158 Switzerland Basic Materials

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USG87623JG33 14'434'461 200000 / 1000 BBB+ Baa1 USD 2.000 S Tesco Plc 05.12.14 1.2 101.47 0.81 62 United Kingdom Consumer US428236BT96 14'493'086 2000 / 1000 BBB+ Baa1 USD 2.625 S Hewlett-Packard Co 09.12.14 1.2 102.09 0.95 76 USA TMT USU7787RAD36 1'473'599 200000 / 1000 BBB+ Baa1 USD 1.850 S Sabmiller Holdings Inc 15.01.15 1.3 101.48 0.75 53 United Kingdom Consumer US345397VW07 14'233'205 200000 / 1000 BB+ Baa3 USD 3.875 S Ford Motor Credit Co Llc 15.01.15 1.3 103.57 1.22 100 USA Financial US465410BV92 10'941'406 100000 / 1000 NR NR USD 3.125 S Italy Gov'T Int Bond 26.01.15 1.4 102.72 1.15 92 Italy Government US984121BZ56 10'799'565 2000 / 1000 BBB- Baa2 USD 4.250 S Xerox Corporation 15.02.15 1.4 104.50 1.10 86 USA TMT US03938LAV62 18'067'696 2000 / 1000 BB+ Ba1 USD 4.250 S Arcelormittal 25.02.15 1.4 103.55 1.80 154 Luxembourg Basic Materials US65535HAA77 11'081'896 2000 / 1000 BBB+ Baa3 USD 5.000 S Nomura Holdings Inc 04.03.15 1.5 105.32 1.40 114 Japan Financial USF1754PAB07 18'352'937 2000 / 1000 BBB Baa2 USD 2.400 S Vivendi Sa 10.04.15 1.6 101.97 1.15 86 France TMT US345397WC34 18'589'137 200000 / 1000 BB+ Baa3 USD 2.750 S Ford Motor Credit Co Llc 15.05.15 1.6 102.17 1.45 113 USA Financial US03938LAR50 11'599'694 2000 / 1000 BB+ Ba1 USD 4.250 S Arcelormittal 05.08.15 1.8 103.70 2.27 189 Luxembourg Basic Materials US80282KAB26 19'616'006 2000 / 1000 BBB Baa2 USD 3.000 S C Santander Holdings Usa 24.09.15 1.9 103.06 1.48 103 Spain Financial US87927VAQ14 2'288'838 2000 / 1000 BBB- Baa3 USD 5.250 S  Telecom Italia Capital 01.10.15 1.9 105.20 2.65 222 Italy TMT US055299AL58 19'755'352 200000 / 1000 BBB- Baa3 USD 4.664 S Bbva Us Senior Sa Uniper 09.10.15 2.0 103.51 2.92 248 Spain Financial USC98874AL11 19'871'688 2000 / 1000 BBB Baa2 USD 2.050 S Xstrata Finance Canada 23.10.15 2.1 100.04 2.03 157 Switzerland Basic Materials USQ3919KAA99 11'948'765 2000 / 1000 B+ B1 USD 7.000 S Fortescue Resources 01.11.15 1.1 103.40 5.31 379 Australia Basic Materials USQ4887EAA93 12'103'633 2000 / 1000 BBB Baa3 USD 4.000 S Incitec Pivot Ltd 07.12.15 2.1 104.44 1.98 147 Australia Basic Materials US277432AJ92 12'112'213 2000 / 1000 BBB Baa2 USD 3.000 S Eastman Chemical Co 15.12.15 2.2 104.25 1.10 59 USA Basic Materials USC10602AU14 20'434'639 2000 / 1000 BB Ba2 USD 4.250 S Bombardier Inc 15.01.16 2.2 103.95 2.52 197 Canada Industrial US12626PAK93 12'103'630 2000 / 1000 BBB+ Baa2 USD 4.125 S Crh America Inc 15.01.16 2.2 104.98 1.96 141 Ireland Industrial US46115HAG20 20'413'076 200000 / 1000 BBB Baa2 USD 3.125 S Intesa Sanpaolo Spa 15.01.16 2.2 99.94 3.15 260 Italy Financial US345397WE99 19'182'877 200000 / 1000 BB+ Baa3 USD 2.500 S Ford Motor Credit Co Llc 15.01.16 2.3 101.45 1.87 132 USA Financial US65535HAC34 12'323'272 2000 / 1000 BBB+ Baa3 USD 4.125 S Nomura Holdings Inc 19.01.16 2.3 106.39 1.38 83 Japan Financial XS0244930599 2'451'126 1000 NR USD 5.125 A Hypothekenbank Fra Lux 21.01.16 2.2 105.85 2.55 198 Germany Financial US465410BQ08 2'415'660 100000 / 1000 NR NR USD 4.750 S Italy Gov'T Int Bond 25.01.16 2.3 106.50 1.95 139 Italy Government US50075NBB91 11'007'897 2000 / 1000 BBB- Baa1 USD 4.125 S Mondelez International 09.02.16 2.3 107.08 1.16 58 USA Consumer US03938LAT17 12'600'854 2000 / 1000 BB+ Ba1 USD 4.250 S Arcelormittal 01.03.16 2.4 103.16 2.93 233 Luxembourg Basic Materials US65504LAE74 12'433'222 2000 / 1000 BBB+ Baa2 USD 3.050 S Noble Holding Intl Ltd 01.03.16 2.4 103.03 1.80 120 USA Energy US165167CJ49 20'987'248 2000 / 1000 BB- Ba3 USD 3.250 S Chesapeake Energy Corp 15.03.16 1.5 101.03 2.83 229 USA Energy USU24652AA44 12'615'152 2000 / 1000 BBB+ Baa1 USD 3.875 S Harley-Davidson Finl Ser 15.03.16 2.4 106.01 1.45 83 USA Financial USF0819HE376 12'784'797 2000 / 1000 BB+ Ba1 USD 4.375 S  Banque Psa Finance 04.04.16 2.4 102.96 3.17 253 France Financial USN2557FFA77 12'830'779 150000 / 1000 BBB+ Baa1 USD 3.125 S Deutsche Telekom Int Fin 11.04.16 2.5 104.28 1.44 80 Germany TMT USF7806FQF10 12'836'420 2000 / 1000 BBB Baa3 USD 4.600 S Rci Banque Sa 12.04.16 2.4 105.20 2.52 188 France Financial US80282KAA43 12'888'572 2000 / 1000 BBB Baa2 USD 4.625 S Santander Holdings Usa 19.04.16 2.4 104.78 2.72 207 Spain Financial US345397WJ86 21'347'771 200000 / 1000 BB+ Baa3 USD 1.700 S Ford Motor Credit Co Llc 09.05.16 2.6 99.52 1.89 121 USA Financial US302182AF78 12'939'987 2000 / 1000 BBB+ Baa3 USD 3.125 S Express Scripts Holding 15.05.16 2.6 104.07 1.58 90 USA Consumer USU37047AC89 21'358'927 2000 / 1000 BB- Ba3 USD 2.750 S General Motors Finl Co 15.05.16 2.6 100.38 2.60 192 USA Financial USX3446PDH48 13'186'254 100000 / 1000 BBB- Baa3 USD 4.875 S Republic Of Iceland 16.06.16 2.6 104.94 3.01 229 Iceland Government US25179MAJ27 13'325'584 2000 / 1000 BBB+ Baa1 USD 2.400 S Devon Energy Corporation 15.07.16 2.7 102.88 1.37 63 USA Energy US544152AD32 13'498'267 2000 / 1000 BBB- Baa2 USD 3.500 S Lorillard Tobacco Co 04.08.16 2.8 104.72 1.83 106 USA Consumer US423074AL75 13'818'590 2000 / 1000 BB- B2 USD 2.000 S Hj Heinz Co 12.09.16 2.9 99.90 2.03 122 USA Consumer US487836BF43 14'329'568 2000 / 1000 BBB+ Baa1 USD 1.875 S Kellogg Co 17.11.16 3.1 101.91 1.26 37 USA Consumer US786514BT58 14'452'925 2000 / 1000 BBB Baa3 USD 3.400 S Safeway Inc 01.12.16 3.0 105.40 1.68 77 USA Consumer US428236BU69 14'493'088 2000 / 1000 BBB+ Baa1 USD 3.300 S Hewlett-Packard Co 09.12.16 3.1 104.32 1.93 101 USA TMT US893830BA68 14'452'610 1000 BBB- Baa3 USD 5.050 S Transocean Inc 15.12.16 3.0 109.62 2.00 108 USA Energy USG87623JH16 14'434'463 200000 / 1000 BBB+ Baa1 USD 2.700 S Tesco Plc 05.01.17 3.2 102.08 2.05 111 United Kingdom Consumer USF7061BAM21 14'693'229 150000 / 1000 BBB- Baa3 USD 2.950 S Pernod-Ricard Sa 15.01.17 3.2 103.05 2.01 105 France Consumer USC98874AG26 14'269'123 2000 / 1000 BBB Baa2 USD 3.600 S Xstrata Finance Canada 15.01.17 3.1 101.65 3.08 212 Switzerland Basic Materials USU7787RAB79 14'726'693 200000 / 1000 BBB+ Baa1 USD 2.450 S Sabmiller Holdings Inc 15.01.17 3.2 101.87 1.87 92 United Kingdom Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US345397VX89 14'904'021 200000 / 1000 BB+ Baa3 USD 4.250 S Ford Motor Credit Co Llc 03.02.17 3.2 105.60 2.53 155 USA Financial US03938LAW46 18'067'701 2000 / 1000 BB+ Ba1 USD 5.000 S Arcelormittal 25.02.17 3.2 103.10 4.03 303 Luxembourg Basic Materials USU84691AC56 18'083'909 2000 / 1000 BB- B1 USD 9.125 S Sprint Communications 01.03.17 3.0 115.38 4.33 332 Japan TMT US98310WAH16 18'083'896 2000 / 1000 BBB- Baa3 USD 2.950 S Wyndham Worldwide 01.03.17 3.2 101.71 2.44 145 USA Consumer US423074AN32 18'094'730 2000 / 1000 BB- B2 USD 1.500 S Hj Heinz Co 01.03.17 3.4 95.85 2.76 175 USA Consumer USN27915AA03 18'094'937 150000 / 1000 BBB+ Baa1 USD 2.250 S Deutsche Telekom Int Fin 06.03.17 3.3 100.96 1.96 95 Germany TMT US65504LAH06 14'963'759 2000 / 1000 BBB+ Baa2 USD 2.500 S Noble Holding Intl Ltd 15.03.17 3.3 100.50 2.35 133 USA Energy USU24652AB27 14'871'822 2000 / 1000 BBB+ Baa1 USD 2.700 S Harley-Davidson Finl Ser 15.03.17 3.3 100.60 2.52 150 USA Financial US984121CF83 18'154'509 2000 / 1000 BBB- Baa2 USD 2.950 S Xerox Corporation 15.03.17 3.3 102.71 2.15 112 USA TMT USQ3919KAE12 18'193'878 2000 / 1000 B+ B1 USD 6.000 S Fmg Resources Aug 2006 01.04.17 2.3 101.13 5.65 489 Australia Basic Materials US92553PAG72 12'764'371 2000 / 1000 BBB Baa2 USD 3.500 S Viacom Inc 01.04.17 3.3 104.21 2.27 122 USA TMT USG03762CF96 18'297'399 200000 / 1000 BBB Baa2 USD 2.625 S Anglo American Capital 03.04.17 3.3 97.79 3.28 224 United Kingdom Basic Materials USF2020UAD12 12'888'576 150000 / 1000 CCC+ Caa2 USD 8.500 S Cma Cgm 15.04.17 2.9 94.25 10.45 938 France Transportation USU7185PAD51 18'146'474 2000 / 1000 BBB Baa1 USD 2.950 S Phillips 66 01.05.17 3.4 103.26 2.02 94 USA Energy US25179MAM55 18'564'297 2000 / 1000 BBB+ Baa1 USD 1.875 S Devon Energy Corporation 15.05.17 3.5 99.05 2.14 105 USA Energy USU5009CAA81 18'737'792 2000 / 1000 BBB Baa2 USD 2.250 S Kraft Foods Group Inc 05.06.17 3.6 101.62 1.80 68 USA Consumer US345397WD17 18'794'613 200000 / 1000 BB+ Baa3 USD 3.000 S Ford Motor Credit Co Llc 12.06.17 3.5 101.24 2.65 152 USA Financial USU37047AB07 19'277'597 1000 BB- Ba3 USD 4.750 S General Motors Finl Co 15.08.17 3.6 104.10 3.62 242 USA Financial US50540RAK86 19'327'583 1000 BBB Baa2 USD 2.200 S Lab Corp Of Amer Hldgs 23.08.17 3.8 99.70 2.28 107 USA Consumer USL2967VCY94 3'415'941 100000 / 1000 BBB Baa2 USD 6.250 S Enel Finance Intl Nv 15.09.17 3.5 109.92 3.58 235 Italy Utilities US428236BW26 18'146'456 2000 / 1000 BBB+ Baa1 USD 2.600 S Hewlett-Packard Co 15.09.17 3.8 100.46 2.48 124 USA TMT USG03762CG79 19'624'992 200000 / 1000 BBB Baa2 USD 2.625 S Anglo American Capital 27.09.17 3.8 96.86 3.46 221 United Kingdom Basic Materials USN39427AN46 19'736'408 2000 / 1000 BBB+ Baa1 USD 1.400 S Heineken Nv 01.10.17 3.9 97.72 1.99 73 Netherlands Consumer US52206BAA61 19'837'877 200000 / 1000 BBB+ Baa2 USD 3.000 S Leaseplan Corporation Nv 23.10.17 3.8 99.58 3.11 183 Netherlands Financial USC98874AN76 19'871'660 2000 / 1000 BBB Baa2 USD 2.700 S Xstrata Finance Canada 25.10.17 3.8 97.75 3.28 200 Switzerland Basic Materials USF1754PAC89 18'352'946 2000 / 1000 BBB Baa2 USD 3.450 S Vivendi Sa 12.01.18 4.0 101.25 3.14 177 France TMT US855030AL63 20'412'553 2000 / 1000 BBB Baa2 USD 2.750 S Staples Inc 12.01.18 4.0 100.81 2.55 121 USA Consumer US46115HAJ68 20'413'078 200000 / 1000 BBB Baa2 USD 3.875 S Intesa Sanpaolo Spa 16.01.18 3.9 98.20 4.33 295 Italy Financial US34540UAA79 20'423'854 200000 / 1000 BB+ Baa3 USD 2.375 S Ford Motor Credit Co Llc 16.01.18 4.1 98.22 2.81 143 USA Financial USG01304AA50 12'396'754 150000 / 1000 B B2 USD 7.875 S Aguila (Swissport) 31.01.18 2.2 105.45 6.43 560 France Industrial USQ3919KAB72 12'168'972 2000 / 1000 B+ B1 USD 6.875 S Fmg Resources Aug 2006 01.02.18 3.0 102.38 6.25 511 Australia Basic Materials US878742AX37 19'170'344 2000 / 1000 BBB Baa2 USD 2.500 S Teck Resources Limited 01.02.18 4.1 97.13 3.20 181 Canada Basic Materials XS0328781728 3'522'477 100000 / 1000 BB+ Ba1 USD 6.000 S Edp Finance Bv 02.02.18 3.8 104.52 4.85 345 Portugal Utilities USL97437AE47 12'052'060 200000 / 1000 BB- Ba3 USD 7.250 S Wind Acquisition Fin Sa 15.02.18 2.8 101.50 6.85 583 Italy TMT XS0895794658 20'776'808 500000 / 1000 BBB- Baa3 USD 4.000 A Kingdom Of Spain 06.03.18 4.0 100.31 3.92 245 Spain Government USC10602AN70 11'143'933 2000 / 1000 BB Ba2 USD 7.500 S Bombardier Inc 15.03.18 3.7 111.25 4.71 327 Canada Industrial USF48957AB45 21'034'552 2000 / 1000 BBB Baa3 USD 3.500 S Rci Banque Sa 03.04.18 4.1 100.03 3.49 202 France Financial USQ0560UAC10 12'816'752 2000 / 1000 BBB- Baa2 USD 5.000 S Asciano Finance 07.04.18 4.0 106.09 3.55 208 Australia Transportation US472319AK86 12'862'070 5000 / 1000 BBB Baa3 USD 5.125 S Jefferies Group Llc 13.04.18 4.0 106.68 3.54 206 USA Financial USU37047AD62 21'358'926 2000 / 1000 BB- Ba3 USD 3.250 S General Motors Finl Co 15.05.18 4.3 98.00 3.72 220 USA Financial US52206BAB45 21'358'720 200000 / 1000 BBB+ Baa2 USD 2.500 S Leaseplan Corporation Nv 16.05.18 4.3 96.22 3.38 186 Netherlands Financial XS0934113076 21'433'236 200000 / 1000 USD 5.875 S  Gunvor Group Ltd 21.05.18 4.0 98.42 6.27 474 Switzerland Energy US487836BE77 13'047'495 2000 / 1000 BBB+ Baa1 USD 3.250 S Kellogg Co 21.05.18 4.3 105.61 2.00 47 USA Consumer US03938LAF13 4'673'455 2000 / 1000 BB+ Ba1 USD 6.125 S Arcelormittal 01.06.18 4.0 104.20 5.11 358 Luxembourg Basic Materials USU37047AA24 13'106'720 2000 / 1000 BB- Ba3 USD 6.750 S General Motors Finl Co 01.06.18 4.0 112.38 3.87 233 USA Financial XS0938043766 21'524'884 200000 / 1000 BBB- Baa2 USD 3.875 S African Export-Import Ba 04.06.18 4.2 97.63 4.43 289 SNAT Sovereign-linked Entity US80282KAC09 22'203'011 2000 / 1000 BBB Baa2 USD 3.450 S Santander Holdings Usa 27.08.18 4.5 101.43 3.14 150 Spain Financial USU31434AA85 13'831'077 2000 / 1000 BB+ Ba2 USD 6.500 S Fresenius Med Care Us 15.09.18 4.2 109.38 4.40 275 Germany Consumer US165167CH82 14'998'553 1000 BB- WR USD 6.775 S Chesapeake Energy Corp 15.03.19 USA Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USG01283AF01 18'112'583 200000 / 1000 B+ USD 10.250 S Afren Plc 08.04.19 2.2 114.58 7.05 531 United Kingdom Energy US24668PAF45 18'352'771 2000 / 1000 BBB- Baa3 USD 4.125 S Delhaize Group 10.04.19 4.9 103.21 3.49 166 Belgium Consumer US654902AB18 10'162'839 2000 / 1000 B+ B1 USD 5.375 S Nokia Corp 15.05.19 4.7 96.12 6.19 434 Finland TMT USU1712QAA41 13'074'715 200000 / 1000 B B1 USD 8.000 S Chrysler Gp/Cg Co-Issuer 15.06.19 1.6 109.13 6.10 442 Italy Automaker USN1897AAB28 18'581'942 200000 / 1000 B+ B1 USD 6.875 S Carlson Wagonlit Bv 15.06.19 4.0 102.50 6.35 471 Netherlands Consumer US87938WAH60 10'295'953 1000 BBB Baa2 USD 5.877 S  Telefonica Emisiones Sau 15.07.19 4.9 107.88 4.34 243 Spain TMT USU31434AB68 14'789'195 2000 / 1000 BB+ Ba2 USD 5.625 S Fresenius Med Care Ii 31.07.19 5.0 105.50 4.55 263 Germany Consumer USG4721SAQ42 10'541'826 75000 / 1000 BBB Baa1 USD 5.000 S Iberdrola Fin Ireland 11.09.19 5.1 105.40 3.98 203 Spain Utilities XS0454935395 10'584'870 100000 / 1000 BB+ Ba1 USD 4.900 S Edp Finance Bv 01.10.19 5.1 99.43 5.01 304 Portugal Utilities USL2967VEC56 10'632'784 100000 / 1000 BBB Baa2 USD 5.125 S Enel Finance Intl Nv 07.10.19 5.1 102.68 4.61 264 Italy Utilities USU53538AE15 18'098'789 1000 B B2 USD 6.250 S Linn Energy Llc/Fin Corp 01.11.19 4.9 92.60 7.78 579 USA Energy USF75549AA77 18'265'310 200000 / 1000 BB Ba3 USD 6.125 S Rexel Sa 15.12.19 3.7 102.56 5.63 410 France Industrial XS0455643394 10'608'853 2000 / 1000 BBB Baa2 USD 6.000 S Holcim Us Finance Sarl & 30.12.19 5.3 113.81 3.54 149 Switzerland Industrial USG77636AA91 14'828'551 200000 / 1000 BB Ba2 USD 8.750 S Sable Intl Finance Ltd 01.02.20 2.2 113.62 6.14 389 United Kingdom TMT USU84691AD30 18'083'912 2000 / 1000 BB+ Ba2 USD 7.000 S Sprint Communications 01.03.20 5.2 108.50 5.43 333 Japan TMT USJ75963AU23 21'226'221 200000 / 1000 BB+ Ba1 USD 4.500 S Softbank Corp 15.04.20 5.5 96.08 5.21 307 Japan TMT USL97437AH77 21'235'631 200000 / 1000 BB- Ba3 USD 6.500 S  Wind Acquisition Fin Sa 30.04.20 4.6 101.35 6.25 437 Italy TMT XS0921332069 21'453'214 200000 / 1000 Ba2 USD 4.750 S Millicom Intl Cellular 22.05.20 5.6 97.13 5.26 310 Luxembourg TMT USF75549AC34 21'006'970 200000 / 1000 BB Ba3 USD 5.250 S Rexel Sa 15.06.20 5.5 99.90 5.26 308 France Industrial US03938LAQ77 11'599'693 2000 / 1000 BB+ Ba1 USD 5.750 S Arcelormittal 05.08.20 5.6 100.75 5.62 339 Luxembourg Basic Materials US013817AU59 11'575'522 2000 / 1000 BBB- Ba1 USD 6.150 S Alcoa Inc 15.08.20 5.6 107.19 4.91 268 USA Basic Materials US615369AA32 11'651'932 2000 / 1000 BBB+ USD 5.500 S Moody'S Corporation 01.09.20 5.8 109.19 3.98 173 USA Consumer USG03762CE22 11'781'983 100000 / 1000 BBB Baa2 USD 4.450 S Anglo American Capital 27.09.20 5.9 99.59 4.52 225 United Kingdom Basic Materials US428236BF92 12'097'353 2000 / 1000 BBB+ Baa1 USD 3.750 S Hewlett-Packard Co 01.12.20 6.2 96.77 4.27 198 USA TMT US487836BD94 12'149'163 2000 / 1000 BBB+ Baa1 USD 4.000 S Kellogg Co 15.12.20 6.3 104.73 3.26 96 USA Consumer US12626PAL76 12'103'631 2000 / 1000 BBB+ Baa2 USD 5.750 S Crh America Inc 15.01.21 6.0 108.34 4.41 209 Ireland Industrial US902133AK37 12'193'386 2000 / 1000 BBB+ Baa2 USD 4.875 S Tyco Electronics Group S 15.01.21 6.1 104.93 4.09 177 Switzerland Industrial USG9372GAC27 12'580'816 200000 / 1000 BB- Ba3 USD 5.250 S Virgin Media Secured Fin 15.01.21 6.0 97.88 5.61 329 United Kingdom TMT US277432AK65 12'112'214 2000 / 1000 BBB Baa2 USD 4.500 S Eastman Chemical Co 15.01.21 6.0 103.66 3.92 163 USA Basic Materials US345397VR12 12'449'668 200000 / 1000 BB+ Baa3 USD 5.750 S Ford Motor Credit Co Llc 01.02.21 6.0 109.72 4.21 188 USA Financial USU31433AA03 12'412'477 2000 / 1000 BB+ Ba2 USD 5.750 S Fresenius Med Care Us 15.02.21 6.0 106.51 4.70 237 Germany Consumer US502413BA45 12'449'669 2000 / 1000 BBB- Baa3 USD 4.950 S L-3 Communications Corp 15.02.21 6.0 104.72 4.20 190 USA Industrial US03938LAU89 12'600'855 2000 / 1000 BB+ Ba1 USD 6.000 S Arcelormittal 01.03.21 5.9 99.13 6.15 381 Luxembourg Basic Materials US65504LAF40 12'433'223 2000 / 1000 BBB+ Baa2 USD 4.625 S Noble Holding Intl Ltd 01.03.21 6.3 103.13 4.14 179 USA Energy US925524BG48 12'507'324 2000 / 1000 BBB Baa2 USD 4.500 S Viacom Inc 01.03.21 6.4 105.72 3.62 128 USA TMT US887317AK12 12'791'852 2000 / 1000 BBB Baa2 USD 4.750 S Time Warner Inc 29.03.21 6.2 106.40 3.77 142 USA TMT USF7061BAK64 12'829'698 150000 / 1000 BBB- Baa3 USD 5.750 S Pernod-Ricard Sa 07.04.21 6.1 112.71 3.81 145 France Consumer US02209SAL79 12'963'095 2000 / 1000 BBB Baa1 USD 4.750 S Altria Group Inc 05.05.21 6.3 106.47 3.77 140 USA Consumer USN77608AD49 21'256'132 200000 / 1000 B+ Ba3 USD 4.750 S Schaeffler Finance Bv 15.05.21 6.2 95.00 5.56 318 Germany Automaker USU0684TAA44 13'091'849 2000 / 1000 BBB Baa2 USD 4.400 S Barrick Na Finance Llc 30.05.21 6.3 93.79 5.39 301 Canada Basic Materials US13342BAE56 13'101'156 2000 / 1000 BBB+ Baa1 USD 4.500 S Cameron Intl Corp 01.06.21 6.3 106.31 3.56 119 USA Energy USU1712QAB24 13'074'716 200000 / 1000 B B1 USD 8.250 S Chrysler Gp/Cg Co-Issuer 15.06.21 4.5 106.75 7.10 493 Italy Automaker US165167CK12 20'987'251 2000 / 1000 BB- Ba3 USD 5.375 S Chesapeake Energy Corp 15.06.21 4.8 100.42 5.30 340 USA Energy US25179MAK99 13'325'585 2000 / 1000 BBB+ Baa1 USD 4.000 S Devon Energy Corporation 15.07.21 6.5 102.35 3.65 128 USA Energy US345397VU41 13'468'935 200000 / 1000 BB+ Baa3 USD 5.875 S Ford Motor Credit Co Llc 02.08.21 6.3 109.91 4.38 196 USA Financial US448579AD49 13'527'852 2000 / 1000 BBB Baa2 USD 5.375 S Hyatt Hotels Corps 15.08.21 6.3 106.51 4.39 199 USA Consumer US29265NAS71 13'505'919 2000 / 1000 BBB Baa3 USD 4.625 S Energen Corp 01.09.21 6.6 98.00 4.93 250 USA Energy US423074AM58 13'818'592 2000 / 1000 BB- B2 USD 3.125 S Hj Heinz Co 12.09.21 6.8 88.50 4.87 244 USA Consumer US26441CAF23 13'692'748 2000 / 1000 BBB Baa2 USD 3.550 S Duke Energy Corp 15.09.21 6.8 99.90 3.56 113 USA Utilities

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US988498AH48 13'692'741 2000 / 1000 BBB Baa3 USD 3.750 S Yum! Brands Inc 01.11.21 6.7 100.27 3.71 129 USA Consumer USQ66511AA69 14'287'397 2000 / 1000 BBB- Baa3 USD 4.450 S Newcrest Finance Pty Ltd 15.11.21 6.5 85.50 6.78 432 Australia Basic Materials USC98874AH09 14'269'752 2000 / 1000 BBB Baa2 USD 4.950 S Xstrata Finance Canada 15.11.21 6.5 97.18 5.38 291 Switzerland Basic Materials US260543CF88 14'281'739 2000 / 1000 BBB Baa2 USD 4.125 S Dow Chemical Co/The 15.11.21 6.7 101.92 3.85 142 USA Basic Materials US786514BU22 14'452'928 2000 / 1000 BBB Baa3 USD 4.750 S Safeway Inc 01.12.21 6.7 102.13 4.44 196 USA Consumer US428236BV43 14'493'089 2000 / 1000 BBB+ Baa1 USD 4.650 S Hewlett-Packard Co 09.12.21 6.7 98.41 4.89 240 USA TMT US893830BB42 14'452'834 1000 BBB- Baa3 USD 6.375 S Transocean Inc 15.12.21 6.4 110.66 4.80 231 USA Energy USF7061BAL48 14'169'940 150000 / 1000 BBB- Baa3 USD 4.450 S Pernod-Ricard Sa 15.01.22 6.9 100.93 4.32 182 France Consumer USU7787RAA96 14'730'690 200000 / 1000 BBB+ Baa1 USD 3.750 S Sabmiller Holdings Inc 15.01.22 7.1 100.41 3.69 119 United Kingdom Consumer US887317AN50 14'093'651 2000 / 1000 BBB Baa2 USD 4.000 S Time Warner Inc 15.01.22 7.0 100.46 3.93 144 USA TMT US651290AP34 13'984'888 2000 / 1000 BBB- Ba1 USD 5.750 S Newfield Exploration Co 30.01.22 6.6 100.79 5.63 312 USA Energy USU31434AC42 14'795'480 2000 / 1000 BB+ Ba2 USD 5.875 S Fresenius Med Care Ii 31.01.22 6.6 105.75 5.03 252 Germany Consumer US92769VAD10 19'920'638 200000 / 1000 B B2 USD 4.875 S Virgin Media Finance Plc 15.02.22 6.8 94.88 5.65 313 United Kingdom TMT US460146CG68 14'297'433 2000 / 1000 BBB Baa3 USD 4.750 S Intl Paper Co 15.02.22 6.8 105.31 4.00 152 USA Basic Materials US03938LAX29 18'067'687 2000 / 1000 BB+ Ba1 USD 6.750 S Arcelormittal 25.02.22 6.4 103.22 6.25 374 Luxembourg Basic Materials US98310WAJ71 18'083'897 2000 / 1000 BBB- Baa3 USD 4.250 S Wyndham Worldwide 01.03.22 7.0 98.71 4.43 191 USA Consumer US423074AP89 18'094'830 2000 / 1000 BB- B2 USD 2.850 S Hj Heinz Co 01.03.22 7.4 95.45 3.47 95 USA Consumer US494550BJ49 13'517'077 1000 BBB Baa2 USD 4.150 S Kinder Morgan Ener Part 01.03.22 7.1 99.93 4.16 164 USA Energy USC10602AR84 18'127'276 2000 / 1000 BB Ba2 USD 5.750 S Bombardier Inc 15.03.22 6.5 98.69 5.95 342 Canada Industrial us912909ag34 18'171'471 1000 BB- B1 USD 7.500 S Us Steel Corp 15.03.22 4.9 101.26 7.30 514 USA Basic Materials US316773CL24 18'119'100 2000 / 1000 BBB Baa1 USD 3.500 S C Fifth Third Bancorp 15.03.22 7.2 98.59 3.69 117 USA Financial US65504LAJ61 14'963'765 2000 / 1000 BBB+ Baa2 USD 3.950 S Noble Holding Intl Ltd 15.03.22 7.0 97.23 4.34 181 USA Energy USQ3919KAF86 18'193'875 2000 / 1000 B+ B1 USD 6.875 S Fmg Resources Aug 2006 01.04.22 6.2 99.85 6.90 436 Australia Basic Materials USC03420AD51 18'329'813 2000 / 1000 BBB Baa2 USD 3.850 S Barrick Gold Corp 01.04.22 7.0 88.18 5.60 307 Canada Basic Materials USN39427AK07 18'329'822 2000 / 1000 BBB+ Baa1 USD 3.400 S Heineken Nv 01.04.22 7.2 96.98 3.82 128 Netherlands Consumer USU7185PAA13 18'146'471 2000 / 1000 BBB Baa1 USD 4.300 S Phillips 66 01.04.22 7.0 101.15 4.14 160 USA Energy USF1754PAD62 18'352'953 2000 / 1000 BBB Baa2 USD 4.750 S Vivendi Sa 12.04.22 6.9 100.87 4.63 208 France TMT US053332AM44 18'433'502 2000 / 1000 BBB Baa2 USD 3.700 S Autozone Inc 15.04.22 7.2 97.47 4.05 151 USA Automaker USG6964QAA43 18'525'241 200000 / 1000 BBB+ Baa1 USD 3.750 S Pearson Funding Four Plc 08.05.22 7.2 96.97 4.17 161 United Kingdom TMT USX34650AA31 18'541'003 100000 / 1000 BBB- Baa3 USD 5.875 S Republic Of Iceland 11.05.22 6.6 102.83 5.46 290 Iceland Government US25179MAP86 18'564'296 2000 / 1000 BBB+ Baa1 USD 3.250 S Devon Energy Corporation 15.05.22 7.4 95.39 3.88 132 USA Energy US620076BB42 18'574'971 2000 / 1000 BBB Baa2 USD 3.750 S Motorola Solutions Inc 15.05.22 7.2 95.40 4.39 183 USA TMT USU5009CAC48 18'738'192 2000 / 1000 BBB Baa2 USD 3.500 S Kraft Foods Group Inc 06.06.22 7.4 98.45 3.71 114 USA Consumer US92553PAM41 18'794'190 2000 / 1000 BBB Baa2 USD 3.125 S Viacom Inc 15.06.22 7.5 93.76 3.97 140 USA TMT USF7061BAN04 14'693'231 150000 / 1000 BBB- Baa3 USD 4.250 S Pernod-Ricard Sa 15.07.22 7.3 101.45 4.05 146 France Consumer US40414LAG41 19'088'575 2000 / 1000 BBB+ Baa1 USD 3.150 S Hcp Inc 01.08.22 7.6 92.12 4.22 162 USA REITS US31428XAS53 19'128'337 2000 / 1000 BBB Baa1 USD 2.625 S Fedex Corp 01.08.22 7.8 91.09 3.81 122 USA Transportation US31620RAF29 19'336'415 2000 / 1000 BBB- Baa3 USD 5.500 S Fidelity Natl Financial 01.09.22 7.1 105.02 4.81 219 USA Financial US92936MAC10 19'433'485 1000 BBB Baa2 USD 3.625 S Wpp Finance 2010 07.09.22 7.4 94.36 4.39 178 United Kingdom TMT US345397WF64 19'625'043 200000 / 1000 BB+ Baa3 USD 4.250 S Ford Motor Credit Co Llc 20.09.22 7.3 99.30 4.34 172 USA Financial USG03762CH52 19'625'009 200000 / 1000 BBB Baa2 USD 4.125 S Anglo American Capital 27.09.22 7.3 93.42 5.04 241 United Kingdom Basic Materials USG82401AH63 19'755'346 2000 / 1000 BBB+ Baa2 USD 3.625 S Smiths Group Plc 12.10.22 7.4 90.00 5.01 237 United Kingdom Industrial USC98874AM93 19'871'655 2000 / 1000 BBB Baa2 USD 4.250 S Xstrata Finance Canada 25.10.22 7.3 91.54 5.44 280 Switzerland Basic Materials USQ55038AA33 19'976'255 2000 / 1000 BBB- Baa2 USD 5.950 S Leighton Finance Usa Pty 13.11.22 6.8 97.70 6.28 363 Spain Financial US444859BA90 20'197'809 2000 / 1000 BBB+ Baa3 USD 3.150 S Humana Inc 01.12.22 7.8 92.42 4.14 149 USA Consumer US855030AM47 20'412'574 2000 / 1000 BBB Baa2 USD 4.375 S Staples Inc 12.01.23 7.5 97.11 4.76 208 USA Consumer USC10602AW79 20'434'637 2000 / 1000 BB Ba2 USD 6.125 S Bombardier Inc 15.01.23 7.0 99.97 6.13 345 Canada Industrial US878742AY10 17'170'349 2000 / 1000 BBB Baa2 USD 3.750 S Teck Resources Limited 01.02.23 7.7 90.13 5.08 240 Canada Basic Materials US494550BM77 19'246'383 1000 BBB Baa2 USD 3.450 S Kinder Morgan Ener Part 15.02.23 7.9 94.20 4.20 151 USA Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOW-INVESTMENT GRADE/HIGH YIELD BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US620076BC25 20'801'722 2000 / 1000 BBB Baa2 USD 3.500 S Motorola Solutions Inc 01.03.23 7.9 93.36 4.36 166 USA TMT USQ8809VAD12 19'847'312 2000 / 1000 BBB Baa2 USD 3.900 S Sydney Airport Finance 22.03.23 7.7 94.91 4.56 185 Australia Industrial USN39427AQ76 19'736'388 2000 / 1000 BBB+ Baa1 USD 2.750 S Heineken Nv 01.04.23 8.2 91.18 3.86 114 Netherlands Consumer USQ0560UAD92 14'345'676 2000 / 1000 BBB- Baa2 USD 6.000 S Asciano Finance 07.04.23 7.1 104.78 5.35 264 Australia Transportation USU37047AE46 21'359'057 2000 / 1000 BB- Ba3 USD 4.250 S General Motors Finl Co 15.05.23 7.7 93.49 5.11 237 USA Financial BE6254003252 21'569'139 200000 / 1000 BB+ Ba1 USD 5.500 S Barry Callebaut Svcs Nv 15.06.23 7.4 102.53 5.17 241 Switzerland Consumer US345397WK59 22'057'609 200000 / 1000 BB+ Baa3 USD 4.375 S Ford Motor Credit Co Llc 06.08.23 7.9 97.86 4.65 187 USA Financial US03938LAS34 12'600'857 2000 / 1000 BB+ Ba1 USD 7.250 S Arcelormittal 01.03.41 11.3 92.10 7.96 437 Luxembourg Basic Materials US887317AL94 12'791'853 2000 / 1000 BBB Baa2 USD 6.250 S Time Warner Inc 29.03.41 13.4 110.61 5.50 191 USA TMT US13342BAF22 13'101'177 2000 / 1000 BBB+ Baa1 USD 5.950 S Cameron Intl Corp 01.06.41 14.0 113.23 5.06 147 USA Energy US25179MAL72 13'325'586 2000 / 1000 BBB+ Baa1 USD 5.600 S Devon Energy Corporation 15.07.41 14.2 105.38 5.23 165 USA Energy US494550BK12 13'517'079 1000 BBB Baa2 USD 5.625 S Kinder Morgan Ener Part 01.09.41 14.2 103.09 5.41 180 USA Energy US887317AM77 14'093'647 2000 / 1000 BBB Baa2 USD 5.375 S Time Warner Inc 15.10.41 14.1 100.36 5.35 173 USA TMT USQ66511AB43 14'287'401 2000 / 1000 BBB- Baa3 USD 5.750 S Newcrest Finance Pty Ltd 15.11.41 12.2 81.82 7.28 366 Australia Basic Materials USC98874AJ64 14'269'124 2000 / 1000 BBB Baa2 USD 6.000 S Xstrata Finance Canada 15.11.41 12.7 92.00 6.63 301 Switzerland Basic Materials US260543CE14 14'281'733 2000 / 1000 BBB Baa2 USD 5.250 S Dow Chemical Co/The 15.11.41 14.3 100.81 5.19 160 USA Basic Materials US893830AZ29 14'452'930 1000 BBB- Baa3 USD 7.350 S Transocean Inc 15.12.41 12.7 115.34 6.19 257 USA Energy USF7061BAP51 14'693'233 150000 / 1000 BBB- Baa3 USD 5.500 S Pernod-Ricard Sa 15.01.42 14.3 102.33 5.34 171 France Consumer USU7787RAC52 14'726'655 200000 / 1000 BBB+ Baa1 USD 4.950 S Sabmiller Holdings Inc 15.01.42 14.9 97.60 5.11 148 United Kingdom Consumer USN27915AB85 18'094'944 150000 / 1000 BBB+ Baa1 USD 4.875 S Deutsche Telekom Int Fin 06.03.42 14.7 96.27 5.13 149 Germany TMT US65504LAK35 14'963'755 2000 / 1000 BBB+ Baa2 USD 5.250 S Noble Holding Intl Ltd 15.03.42 13.8 92.52 5.79 215 USA Energy USU7185PAC78 18'127'300 2000 / 1000 BBB Baa1 USD 5.875 S Phillips 66 01.05.42 13.9 105.77 5.47 183 USA Energy US25179MAN39 18'564'303 2000 / 1000 BBB+ Baa1 USD 4.750 S Devon Energy Corporation 15.05.42 14.8 92.71 5.24 160 USA Energy USU5009CAB64 18'737'590 2000 / 1000 BBB Baa2 USD 5.000 S Kraft Foods Group Inc 04.06.42 15.0 99.74 5.02 137 USA Consumer US31428XAT37 19'128'446 2000 / 1000 BBB Baa1 USD 3.875 S Fedex Corp 01.08.42 16.2 85.16 4.83 118 USA Transportation US494550BN50 19'246'406 1000 BBB Baa2 USD 5.000 S Kinder Morgan Ener Part 15.08.42 14.7 94.15 5.40 175 USA Energy USN39427AR59 19'736'402 2000 / 1000 BBB+ Baa1 USD 4.000 S Heineken Nv 01.10.42 15.5 82.92 5.14 148 Netherlands Consumer USC98874AK38 19'871'510 2000 / 1000 BBB Baa2 USD 5.550 S Xstrata Finance Canada 25.10.42 12.6 82.05 7.00 334 Switzerland Basic Materials US444859BB73 20'197'821 2000 / 1000 BBB+ Baa3 USD 4.625 S Humana Inc 01.12.42 15.0 90.15 5.29 162 USA Consumer US345370CQ17 20'384'167 2000 / 1000 BB+ Baa3 USD 4.750 S Ford Motor Company 15.01.43 14.9 89.55 5.47 180 USA Automaker

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0796804432 18'877'291 2000 BBB+ NR AUD 5.375 A  Hyundai Capital Services 29.06.15 1.7 102.20 4.09 152 Korea Financial AU3CB0197085 19'079'051 1000 A+ Aa3 AUD 5.000 S Export-Import Bk Korea 27.07.15 1.8 101.93 3.93 139 Korea Financial AU3CB0199875 19'616'392 1000 A+ A1 AUD 4.500 S Korea Gas Corp 25.09.15 1.9 101.14 3.92 134 Korea Energy AU0000SHBHA1 19'655'141 1000 A A1 AUD 4.500 S Shinhan Bank 09.10.15 1.9 100.77 4.11 152 Korea Financial AU3CB0208619 21'376'068 5000 BBB+ AUD 4.500 S Hyundai Capital Services 16.05.17 3.3 99.54 4.64 167 Korea Financial XS0876184390 20'447'778 2000 A- A3 AUD 4.750 A Sk Telecom Co Ltd 17.11.17 3.6 100.71 4.56 141 Korea TMT

XS0775808917 18'441'614 2000 BBB Baa1 AUD 6.125 A Petroleos Mexicanos 26.04.17 3.2 103.61 5.01 199 Mexico Energy

XS0863569298 20'198'438 200000 / 1000 BBB Baa2 AUD 7.500 A Vtb Bank (Vtb Capital Sa 11.12.17 3.4 105.45 6.00 281 Russia Financial

XS0935802495 21'440'149 200000 / 1000 Baa2 AUD 5.500 A Turkiye Garanti Bankasi 23.05.18 3.9 93.06 7.28 396 Turkey Financial

CH0129722499 12'972'249 5000 BBB Baa1 CHF 3.125 A Banco Santander Brasil 01.12.14 1.2 102.98 0.70 85 Brazil Financial CH0181943983 18'194'398 5000 BBB Baa1 CHF 3.250 A Banco Santander Braz Ci 12.04.16 2.5 103.64 1.80 182 Brazil Financial CH0132470227 13'247'022 5000 BBB Baa2 CHF 2.750 A  Banco Nac De Desen Econo 15.12.16 3.1 103.33 1.69 162 Brazil Sovereign-linked Entity

CH0106812362 10'681'236 5000 AA- A1 CHF 2.875 A Czech Republic 23.11.16 3.0 107.34 0.57 50 Czech Republic Government

CH0123326081 12'332'608 5000 BBB- Baa3 CHF 3.375 A Union Bank Of India 07.08.15 1.8 99.81 3.48 357 India Financial CH0182096997 18'209'699 5000 BBB- Baa3 CHF 3.125 A Idbi Bank Ltd/Difc Dubai 12.10.15 2.0 101.23 2.52 259 India Financial CH0124470995 12'447'099 5000 BBB- Baa2 CHF 3.375 A State Bank Of India 22.02.16 2.3 101.48 2.74 278 India Financial CH0127699434 12'769'943 5000 BBB- Baa3 CHF 3.500 A Export-Import Bk India 13.04.16 2.4 102.56 2.47 249 India Financial CH0148606145 14'860'614 5000 Baa3 CHF 3.500 A Rural Electrification 07.03.17 3.2 100.69 3.28 317 India Financial CH0202406440 20'240'644 5000 BBB- Baa2 CHF 2.750 A Icici Bank Ltd/Dubai 07.01.20 5.5 91.68 4.27 367 India Financial

CH0183365128 18'336'512 5000 A- A3 CHF 1.500 A Teva Pharm Fin V Bv 25.10.18 4.9 102.21 1.06 71 Israel Consumer

CH0116863694 11'686'369 5000 A Aa3 CHF 1.750 A Korea Development Bank 01.10.14 1.1 101.73 0.14 26 Korea Financial CH0117725124 11'772'512 5000 BBB+ Baa1 CHF 2.250 A Hyundai Capital Services 15.10.14 1.1 102.12 0.33 46 Korea Financial CH0114511394 11'451'139 5000 BBB+ Baa1 CHF 3.000 A Hyundai Capital Services 16.07.15 1.8 104.51 0.56 66 Korea Financial CH0196924010 19'692'401 5000 Aa3 CHF 0.522 Q Korea Finance Corp 29.10.15 0.2 101.06 0.03 Korea Financial CH0181915718 18'191'571 5000 A Aa3 CHF 1.500 A Korea Development Bank 23.05.16 2.7 102.63 0.52 53 Korea Financial CH0129638372 12'963'837 5000 BBB+ Baa1 CHF 3.000 A Hyundai Capital Services 27.05.16 2.6 106.28 0.67 67 Korea Financial CH0138773251 13'877'325 5000 A+ A1 CHF 2.000 A Korea Gas Corp 11.10.16 3.0 103.80 0.75 71 Korea Energy CH0187696114 18'769'611 5000 BBB- Baa2 CHF 2.000 A Lg Electronics Inc 02.12.16 3.1 102.86 1.10 103 Korea Industrial CH0143421169 14'342'116 5000 A1 CHF 2.125 A Korea Land & Housing Cor 12.12.16 3.1 104.03 0.87 80 Korea Sovereign-linked Entity CH0148059923 14'805'992 5000 BBB+ Baa1 CHF 2.500 A Hyundai Capital Services 15.02.17 3.3 105.10 0.99 89 Korea Financial CH0149710771 14'971'077 5000 A+ A1 CHF 1.875 A Korea National Oil Corp 08.03.17 3.4 103.26 0.93 81 Korea Energy CH0186130446 18'613'044 5000 A- A3 CHF 1.750 A Sk Telecom Co Ltd 12.06.17 3.6 103.35 0.84 69 Korea TMT CH0217986378 21'798'637 5000 A+ A1 CHF 1.625 A Korea National Oil Corp 29.11.18 5.0 101.33 1.36 96 Korea Energy CH0215076313 21'507'631 5000 A1 CHF 1.625 A Korea Western Power Co 26.03.19 5.2 100.48 1.53 108 Korea Utilities CH0138775876 13'877'587 5000 A+ A1 CHF 2.875 A Korea Gas Corp 11.10.19 5.5 110.09 1.15 59 Korea Energy

CH0198380237 19'838'023 5000 Baa2 CHF 2.750 A Gic Funding Limited 16.11.15 2.1 101.84 1.89 195 Kuwait Financial

CH0196124355 19'612'435 5000 BBB CHF 2.000 A Republic Of Lithuania 11.04.18 4.3 100.52 1.88 159 Lithuania Government

CH0105654088 10'565'408 5000 BBB Baa1 CHF 3.500 A Petroleos Mexicanos 13.10.14 1.1 103.43 0.39 52 Mexico Energy CH0111182108 11'118'210 5000 A2 CHF 2.250 A America Movil Sab De Cv 07.04.15 1.6 102.88 0.43 55 Mexico TMT CH0137501174 13'750'117 5000 CHF 2.000 A America Movil Sab De Cv 27.12.17 4.1 103.99 1.05 81 Mexico TMT

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

CH0181646883 18'164'688 5000 BBB Baa1 CHF 2.500 A Petroleos Mexicanos 10.04.19 5.2 103.97 1.75 128 Mexico Energy

CH0104007692 10'400'769 5000 A- A2 CHF 3.000 A Republic Of Poland 23.09.14 1.0 102.98 0.16 27 Poland Government CH0192720842 19'272'084 5000 A2 CHF 2.536 A Pko Fin Ab (Pko Bank Pl) 21.12.15 2.2 103.49 0.99 105 Poland Financial CH0124656056 12'465'605 5000 A- A2 CHF 2.750 A Republic Of Poland 25.02.16 2.4 105.33 0.57 60 Poland Government CH0184250261 18'425'026 5000 A- A2 CHF 2.250 A Republic Of Poland 15.05.18 4.4 105.28 1.09 79 Poland Government CH0030644030 3'064'403 5000 A- A2 CHF 3.250 A Republic Of Poland 15.05.19 5.2 110.15 1.38 90 Poland Government

CH0120169799 12'016'979 5000 A- A1 CHF 3.000 A Cbq Finance Ltd 07.12.15 2.2 104.65 0.91 96 Qatar Financial

CH0119190228 11'919'022 5000 Baa1 CHF 3.500 A Sberbank (Sb Cap Sa) 12.11.14 1.1 102.95 0.98 114 Russia Financial CH0188931916 18'893'191 5000 BBB- Baa3 CHF 3.375 A Gazprombk (Gpb Finance) 05.08.15 1.9 103.68 1.41 151 Russia Financial CH0190653870 19'065'387 5000 Baa3 CHF 3.125 A Ojsc Russ Agric Bk(Rshb) 17.08.15 1.9 102.29 1.91 201 Russia Financial CH0148606160 14'860'616 5000 Baa1 CHF 3.100 A Sberbank (Sb Cap Sa) 14.09.15 1.9 103.56 1.31 139 Russia Financial CH0141533403 14'153'340 5000 BBB Baa2 CHF 5.000 A Vtb Bank (Vtb Capital Sa 17.11.15 2.0 106.55 1.93 199 Russia Financial CH0123431709 12'343'170 5000 BBB NR CHF 3.750 A Vnesheconombank(Veb) 17.02.16 2.3 103.35 2.33 236 Russia Financial CH0193724280 19'372'428 5000 Baa2 CHF 3.150 A  Vtb Bank (Vtb Capital Sa 16.12.16 3.0 103.35 2.08 201 Russia Financial CH0204477274 20'447'727 5000 Baa1 CHF 2.065 A Sberbank (Sb Cap Sa) 28.02.17 3.3 101.51 1.61 151 Russia Financial CH0205819433 20'581'943 5000 BBB Baa1 CHF 2.177 A Rzd Capital Plc (Rzd) 26.02.18 4.2 101.44 1.84 157 Russia Transportation CH0205819441 20'581'944 5000 BBB Baa1 CHF 2.730 A Rzd Capital Plc (Rzd) 26.02.21 6.6 99.81 2.76 196 Russia Transportation

CH0181379774 18'137'977 5000 A A2 CHF 2.125 A Slovak Republic 25.04.18 4.4 105.40 0.93 64 Slovakia Government CH0206594498 20'659'450 5000 A A2 CHF 1.375 A Slovak Republic 16.10.19 5.8 100.69 1.26 70 Slovakia Government CH0181915585 18'191'558 5000 A A2 CHF 2.750 A Slovak Republic 25.04.22 7.6 108.17 1.72 76 Slovakia Government

CH0190227691 19'022'769 5000 Baa3 CHF 4.750 A African Bank Limited 24.07.15 1.8 103.04 3.07 316 South Africa Financial CH0199541308 19'954'130 5000 Baa3 CHF 4.000 A African Bank Limited 09.11.16 2.9 101.93 3.35 329 South Africa Financial

CH0215572717 21'557'271 5000 BBB Baa1 CHF 1.125 A Banco Santander Brasil 26.06.15 1.8 100.43 0.88 99 Spain Financial

CH0124757904 12'475'790 5000 A A1u CHF 3.000 A Adcb Finance Cayman Ltd 08.12.15 2.2 104.93 0.79 85 UAE Financial CH0123133297 12'313'329 5000 CHF 3.000 A First Gulf Bank 16.02.16 2.3 105.02 0.92 95 UAE Financial

CH0119014212 11'901'421 5000 AA- Aa3 CHF 2.625 A Corp Andina De Fomento 05.11.15 2.1 104.80 0.39 46 Venezuela Sovereign-linked Entity

XS0554792670 11'958'130 50000 / 1000 B+ B1 EUR 7.500 A Republic Of Albania 04.11.15 1.9 104.75 5.11 483 Albania Government

XS0205545840 2'047'270 1 NR EUR 7.820 S Republic Of Argentina 31.12.33 6.7 59.50 14.44 1254 Argentina Government

XS0947658208 21'699'854 100000 / 1000 BBB+ Baa1 EUR 2.750 A Bacardi Ltd 03.07.23 8.4 98.23 2.96 104 Bermuda Consumer

XS0211229637 2'053'015 1000 BBB Baa2 EUR 7.375 A Fed Republic Of Brazil 03.02.15 1.3 109.28 0.75 53 Brazil Government XS0580519931 12'335'953 100000 / 1000 BBB Baa1 EUR 4.500 A  Banco Do Brasil (Cayman) 20.01.16 2.2 103.85 2.80 248 Brazil Financial XS0505532134 11'250'247 50000 / 1000 BBB Baa3 EUR 5.250 A Votorantim Cimentos Sa 28.04.17 3.3 106.90 3.21 263 Brazil Industrial XS0077157575 654'860 1 BBB Baa2 EUR 11.000 A Fed Republic Of Brazil 26.06.17 3.3 136.34 1.18 -176 Brazil Government XS0540449096 11'748'059 50000 / 1000 BBB Baa2 EUR 4.125 A Banco Nac De Desen Econo 15.09.17 3.5 101.84 3.63 294 Brazil Sovereign-linked Entity XS0569301327 12'162'655 100000 / 1000 BBB- Baa3 EUR 5.125 A Telemar Norte Leste Sa 15.12.17 3.6 101.68 4.68 392 Brazil TMT XS0716979249 14'466'782 100000 / 1000 BBB A3 EUR 4.875 A Petrobras Intl Fin Co 07.03.18 3.9 105.77 3.46 263 Brazil Energy XS0497362748 11'148'328 50000 / 1000 A- Baa2 EUR 4.375 A Vale Sa 24.03.18 4.1 108.57 2.36 151 Brazil Basic Materials

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0955552178 21'942'319 100000 / 1000 BBB Baa1 EUR 3.750 A  Banco Do Brasil 25.07.18 4.4 98.83 4.02 309 Brazil Financial XS0835886598 19'655'139 100000 / 1000 BBB A3 EUR 3.250 A Petrobras Global Finance 01.04.19 4.9 98.89 3.47 241 Brazil Energy XS0716979595 14'467'033 100000 / 1000 BBB A3 EUR 5.875 A Petrobras Intl Fin Co 07.03.22 6.5 109.77 4.46 281 Brazil Energy XS0802953165 18'979'211 100000 / 1000 A- Baa2 EUR 3.750 A Vale Sa 10.01.23 7.6 98.55 3.94 210 Brazil Basic Materials XS0835890350 19'650'394 100000 / 1000 BBB A3 EUR 4.250 A Petrobras Global Finance 02.10.23 7.7 98.79 4.40 245 Brazil Energy

XS0802005289 18'971'011 100000 / 1000 BBB Baa2 EUR 4.250 A Republic Of Bulgaria 09.07.17 3.5 107.25 2.26 162 Bulgaria Government

XS0431967230 10'235'787 50000 / 1000 BB+ Ba1 EUR 6.500 A Croatia 05.01.15 1.2 105.39 2.34 212 Croatia Government XS0309688918 3'246'803 50000 B Ba2 EUR 5.500 A Zagrebacki Holding Doo 10.07.17 3.2 87.76 9.43 880 Croatia Industrial XS0645940288 13'299'538 100000 / 1000 BB+ Ba1 EUR 5.875 A Croatia 09.07.18 4.1 106.08 4.45 353 Croatia Government XS0776111188 18'463'685 100000 / 1000 B B2 EUR 9.875 S Agrokor D.D 01.05.19 1.5 111.88 7.27 636 Croatia Consumer XS0836495183 19'709'080 100000 / 1000 B B2 EUR 9.125 S Agrokor D.D 01.02.20 4.2 108.46 7.44 631 Croatia Consumer

XS0554655505 11'942'781 1000 CCC+ Caa3 EUR 3.750 A Republic Of Cyprus 01.11.15 1.8 79.92 15.36 1508 Cyprus Government

XS0427020309 10'158'668 1000 AA- A1 EUR 4.500 A Czech Republic 05.11.14 1.1 104.87 0.31 11 Czech Republic Government XS0641963839 13'227'489 100000 / 1000 Baa2 EUR 4.500 A Ceske Drahy 24.06.16 2.6 107.31 1.80 141 Czech Republic Transportation XS0504814509 11'242'775 50000 / 1000 B- B3 EUR 7.875 S New World Resources Nv 01.05.18 3.4 70.75 17.26 1712 Czech Republic Energy XS0808636244 21'164'109 100000 / 1000 EUR 4.375 S Ep Energy As 01.05.18 4.1 101.65 3.98 314 Czech Republic Energy XS0757372114 18'150'969 100000 / 1000 AA- A1 EUR 3.625 A Ceska Exportni Banka As 15.03.19 4.9 107.99 2.08 103 Czech Republic Financial XS0783933350 19'910'010 100000 / 1000 EUR 5.875 S  Ep Energy As 01.11.19 5.1 107.08 4.54 343 Czech Republic Energy XS0215153296 2'096'311 1000 AA- A1 EUR 4.125 A Czech Republic 18.03.20 5.7 114.89 1.70 46 Czech Republic Government XS0521158500 11'472'275 50000 / 1000 A- A2 EUR 4.500 A Cez As 29.06.20 5.9 113.00 2.41 111 Czech Republic Utilities XS0541140793 11'731'584 1000 AA- A1 EUR 3.625 A Czech Republic 14.04.21 6.6 109.94 2.19 73 Czech Republic Government XS0458257796 10'659'463 50000 / 1000 A- A2 EUR 5.000 A Cez As 19.10.21 6.5 116.12 2.76 119 Czech Republic Utilities XS0750894577 18'040'606 1000 AA- A1 EUR 3.875 A Czech Republic 24.05.22 7.4 111.34 2.41 71 Czech Republic Government XS0940293763 21'523'188 100000 / 1000 A- A2 EUR 3.000 A Cez As 05.06.28 11.5 92.36 3.68 130 Czech Republic Utilities

XS0956201759 21'972'864 100000 / 1000 EUR 3.875 A Louis Dreyfus Commoditie 30.07.18 4.4 100.96 3.66 273 France Industrial

XS0223429084 2'200'618 50000 A- A3 EUR 4.125 A Hutchison Whampoa 28.06.15 1.8 105.94 0.80 56 Hong Kong Industrial XS0268587127 2'713'313 50000 A- A3 EUR 4.625 A Hutchison Whampoa 21.09.16 2.8 109.70 1.35 92 Hong Kong Industrial XS0466303194 10'734'853 50000 A- A3 EUR 4.750 A Hutch Whampoa Finance 09 14.11.16 2.9 110.28 1.43 96 Hong Kong Industrial XS0790010747 18'737'344 100000 / 1000 A- A3 EUR 2.500 A Hutchison Whampoa 06.06.17 3.6 103.02 1.66 105 Hong Kong Industrial XS0790011398 18'736'559 100000 / 1000 A- A3 EUR 3.625 A Hutchison Whampoa 06.06.22 7.4 105.82 2.86 115 Hong Kong Industrial

XS0231264275 2'292'291 50000 / 1000 BB+ EUR 3.875 A Mol Hungarian Oil & Gas 05.10.15 1.9 101.78 2.98 271 Hungary Energy XS0240732114 2'404'519 1000 BB Ba1 EUR 3.500 A Hungary 18.07.16 2.7 100.58 3.28 288 Hungary Government XS0503453275 11'225'320 50000 / 1000 BB+ EUR 5.875 A Mol Hungarian Oil & Gas 20.04.17 3.2 106.16 4.01 343 Hungary Energy XS0284810719 2'900'969 1000 BB Ba1 EUR 4.375 A Hungary 04.07.17 3.4 100.47 4.23 360 Hungary Government XS0369470397 4'299'393 1000 BB Ba1 EUR 5.750 A Hungary 11.06.18 4.1 103.06 5.01 410 Hungary Government XS0625388136 12'979'638 1000 BB Ba1 EUR 6.000 A Hungary 11.01.19 4.4 104.10 5.10 408 Hungary Government XS0212993678 2'073'738 1000 BB Ba1 EUR 3.875 A Hungary 24.02.20 5.4 94.21 4.94 371 Hungary Government

XS0563463842 12'062'747 100000 / 1000 BBB- Baa2 EUR 4.500 A State Bank India/London 30.11.15 2.0 101.78 3.65 335 India Financial

XS0765295828 18'330'008 100000 / 1000 A- A3 EUR 2.875 A Teva Pharm Fin Iv Bv 15.04.19 5.1 103.82 2.14 114 Israel Consumer XS0864611610 20'228'343 100000 / 1000 BB- B1 EUR 8.000 S Altice Financing Sa 15.12.19 3.6 106.96 6.62 546 Israel TMT

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0495946070 11'127'360 50000 / 1000 A+ A1 EUR 4.625 A State Of Israel 18.03.20 5.6 114.78 2.17 93 Israel Government

DE000A0DED93 1'974'400 1000 CCC+ Caa3 EUR 10.500 A Government Of Jamaica 27.10.14 1.0 104.20 6.53 633 Jamaica Government

XS0189713992 1'826'285 1000 BBB+ Baa2 EUR 4.250 A Republic Of Latvia 02.04.14 0.6 102.57 -0.24 -36 Latvia Government

XS0212170939 2'064'332 1000 BBB Baa1 EUR 3.750 A Republic Of Lithuania 10.02.16 2.3 105.86 1.29 95 Lithuania Government XS0327304001 3'495'304 1000 BBB Baa1 EUR 4.850 A Republic Of Lithuania 07.02.18 3.9 108.96 2.67 186 Lithuania Government

XS0289333048 2'955'607 50000 / 1000 B EUR 4.750 A Cemex 05.03.14 0.5 101.92 0.85 73 Mexico Industrial XS0197620411 1'914'171 10000 / 1000 BBB Baa1 EUR 6.375 A Pemex 05.08.16 2.7 113.64 1.55 114 Mexico Energy XS0456477578 10'629'355 50000 / 1000 BBB Baa1 EUR 5.500 A Petroleos Mexicanos 09.01.17 3.0 111.63 1.88 137 Mexico Energy XS0519903743 11'453'819 50000 / 1000 A- A2 EUR 3.750 A America Movil Sab De Cv 28.06.17 3.5 107.38 1.73 111 Mexico TMT XS0525982657 11'523'515 1000 BBB Baa1 EUR 4.250 A United Mexican States 14.07.17 3.6 109.32 1.73 109 Mexico Government XS0473787884 10'820'667 50000 / 1000 B EUR 9.625 S Cemex Finance Llc 14.12.17 0.3 106.53 7.79 307 Mexico Industrial XS0699618863 14'185'559 100000 / 1000 A- A2 EUR 4.125 A America Movil Sab De Cv 25.10.19 5.3 108.51 2.61 144 Mexico TMT XS0206170390 2'001'353 1000 BBB Baa1 EUR 5.500 A United Mexican States 17.02.20 5.4 113.29 3.18 196 Mexico Government XS0519902851 11'453'783 50000 / 1000 A- A2 EUR 4.750 A America Movil Sab De Cv 28.06.22 7.2 111.70 3.20 148 Mexico TMT XS0954302104 21'908'094 100000 / 1000 A- A2 EUR 3.259 A America Movil Sab De Cv 22.07.23 8.3 98.00 3.50 157 Mexico TMT XS0213101073 2'073'853 10000 / 1000 BBB Baa1 EUR 5.500 A Pemex 24.02.25 8.5 114.34 3.92 185 Mexico Energy

XS0307883891 3'215'994 50000 / 1000 BBB- Ba1u EUR 5.375 A Kingdom Of Morocco 27.06.17 3.4 108.90 2.87 225 Morocco Government XS0546649822 11'822'777 50000 / 1000 BBB- EUR 4.500 A Kingdom Of Morocco 05.10.20 5.8 102.54 4.08 273 Morocco Government

XS0410961014 30'614 1000 A- A2 EUR 5.875 A Republic Of Poland 03.02.14 0.4 102.37 0.14 4 Poland Government XS0429817538 10'199'684 50000 / 1000 BBB Baa1 EUR 6.000 A Tpsa Eurofinance France 22.05.14 0.7 103.81 0.59 44 Poland Tmt XS0545031642 11'883'245 50000 / 1000 A2 EUR 3.733 A Pko Fin Ab (Pko Bank Pl) 21.10.15 2.0 104.77 1.44 116 Poland Financial XS0242491230 2'422'267 1000 A- A2 EUR 3.625 A Republic Of Poland 01.02.16 2.3 106.77 0.78 45 Poland Government XS0626282783 13'007'315 100000 / 1000 EUR 6.000 A Bos Finance Ab 11.05.16 2.5 109.88 2.16 179 Poland Financial XS0746259323 14'965'285 100000 / 1000 BBB- Baa2 EUR 4.000 A Pgnig Finance Ab 14.02.17 3.2 105.77 2.24 171 Poland Energy XS0498285351 11'161'760 1000 A- A2 EUR 3.750 A Republic Of Poland 29.03.17 3.3 108.98 1.16 60 Poland Government XS0210314299 2'044'906 1000 A- A2 EUR 4.200 A Republic Of Poland 15.04.20 5.7 111.43 2.31 106 Poland Government XS0543882095 11'775'466 1000 A- A2 EUR 4.000 A Republic Of Poland 23.03.21 6.4 110.28 2.49 104 Poland Government XS0282701514 2'875'040 1000 A- A2 EUR 4.500 A Republic Of Poland 18.01.22 6.9 113.90 2.63 100 Poland Government XS0841073793 19'734'902 1000 A- A2 EUR 3.375 A Republic Of Poland 09.07.24 8.9 101.33 3.23 121 Poland Government XS0479333311 10'910'696 1000 A- A2 EUR 5.250 A Republic Of Poland 20.01.25 8.5 117.05 3.41 135 Poland Government

XS0638742485 13'188'699 1000 BB+ Baa3 EUR 5.250 A Romania 17.06.16 2.6 107.51 2.42 203 Romania Government XS0371163600 4'318'741 1000 BB+ Baa3 EUR 6.500 A Romania 18.06.18 4.1 112.23 3.66 276 Romania Government XS0852474336 19'953'944 1000 BB+ Baa3 EUR 4.875 A Romania 07.11.19 5.1 104.26 4.08 291 Romania Government

XS0303583412 3'135'789 50000 / 1000 BBB Baa1 EUR 5.364 A Gazprom 31.10.14 1.1 104.73 1.20 100 Russia Energy XS0220790934 2'166'991 50000 / 1000 BBB Baa1 EUR 5.875 A Gazprom 01.06.15 1.7 107.27 1.59 135 Russia Energy XS0244105283 2'443'733 50000 / 1000 BBB Baa2 EUR 4.250 A P Vtb Bank (Vtb Capital Sa 15.02.16 2.3 105.06 2.10 177 Russia Financial XS0271772559 2'746'638 50000 / 1000 BBB Baa1 EUR 5.064 A City Of Moscow 20.10.16 2.8 107.65 2.49 204 Russia Sovereign-linked Entity XS0805582011 19'034'447 100000 / 1000 BBB Baa1 EUR 3.755 A Gazprom (Gaz Capital Sa) 15.03.17 3.2 103.33 2.75 219 Russia Energy XS0276455937 2'800'495 50000 / 1000 BBB Baa1 EUR 5.136 A Gazprom 22.03.17 3.2 107.73 2.81 225 Russia Energy XS0290581569 2'972'473 50000 / 1000 BBB Baa1 EUR 5.440 A Gazprom 02.11.17 3.6 109.26 3.03 231 Russia Energy XS0327237136 3'495'622 50000 / 1000 BBB Baa1 EUR 6.605 A Gazprom 13.02.18 3.8 114.00 3.17 235 Russia Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0893205186 20'732'499 100000 / 1000 BBB EUR 3.035 A Vnesheconombank(Veb) 21.02.18 4.0 98.51 3.40 257 Russia Financial XS0922296883 21'225'778 100000 / 1000 BBB- Baa3 EUR 2.933 A Gazprom Neft (Gpn Capita 26.04.18 4.2 96.73 3.71 283 Russia Energy XS0954912514 21'927'339 100000 / 1000 BBB Baa1 EUR 3.700 A Gazprom (Gaz Capital Sa) 25.07.18 4.4 101.80 3.29 237 Russia Energy XS0906946008 20'956'725 100000 / 1000 BBB Baa1 EUR 3.389 A Gazprom (Gaz Capital Sa) 20.03.20 5.7 98.00 3.74 250 Russia Energy XS0919581982 21'172'472 100000 / 1000 BBB Baa1 EUR 3.374 A Rzd Capital Plc (Rzd) 20.05.21 6.5 94.20 4.27 279 Russia Transportation XS0893212398 20'732'565 100000 / 1000 BBB EUR 4.032 A Vnesheconombank(Veb) 21.02.23 7.5 96.10 4.55 268 Russia Financial XS0906949523 20'956'726 100000 / 1000 BBB Baa1 EUR 4.364 A Gazprom (Gaz Capital Sa) 21.03.25 8.8 101.00 4.25 217 Russia Energy

XS0953783239 21'884'366 200000 / 1000 BBB+ A1 EUR 2.375 A Spi Electricity & Gas 24.07.20 6.2 98.67 2.59 128 Singapore Utilities XS0541498837 11'744'075 50000 / 1000 A Aa3 EUR 3.500 A Optus Finance Pty Ltd 15.09.20 6.0 107.64 2.31 97 Singapore TMT

XS0430015742 10'201'894 1000 A A2 EUR 4.375 A Slovak Republic 21.01.15 1.3 105.46 0.39 17 Slovakia Government SK4120008301 14'741'853 1 A A2 EUR 4.625 A Slovakia Government Bond 19.01.17 3.1 111.67 1.08 57 Slovakia Government XS0299989813 3'089'265 1000 A A2 EUR 4.375 A Slovak Republic 15.05.17 3.4 111.83 1.08 49 Slovakia Government SK4120007204 11'241'560 1 A A2 EUR 4.000 A Slovakia Government Bond 27.04.20 5.8 112.35 1.99 73 Slovakia Government XS0249239830 2'499'265 1000 A A2 EUR 4.000 A Slovak Republic 26.03.21 6.5 113.92 2.00 55 Slovakia Government SK4120009044 20'778'079 1 A A2 EUR 3.000 A Slovakia Government Bond 28.02.23 8.1 102.66 2.68 81 Slovakia Government

SI0002102935 10'072'109 1000 A- Ba1 EUR 4.375 A Republika Slovenija 02.04.14 0.6 101.19 2.24 211 Slovenia Government SI0002103065 11'114'286 1000 A- Ba1 EUR 2.750 A Republika Slovenija 17.03.15 1.5 99.70 2.95 272 Slovenia Government XS0473928371 10'823'218 50000 / 1000 Ba1 EUR 4.875 A Telekom Slovenije Dd 21.12.16 2.9 103.06 3.86 337 Slovenia TMT XS0292653994 3'001'754 1000 A- Ba1 EUR 4.000 A Republic Of Slovenia 22.03.18 4.0 95.87 5.03 418 Slovenia Government SI0002103149 12'301'044 1000 A- Ba1 EUR 4.375 A Republika Slovenija 18.01.21 5.9 89.92 6.11 470 Slovenia Government SI0002102984 10'519'256 1000 A- Ba1 EUR 4.625 A Republika Slovenija 09.09.24 8.1 85.03 6.58 455 Slovenia Government SI0002103164 12'749'570 1000 A- Ba1 EUR 5.125 A Republika Slovenija 30.03.26 8.5 86.51 6.75 457 Slovenia Government

XS0563498632 12'063'643 50000 / 1000 AA- Aa3 EUR 4.625 A Corp Andina De Fomento 29.03.18 4.1 112.63 1.72 86 SNAT Sovereign-linked Entity

XS0250007498 2'509'695 50000 / 1000 BBB Baa1 EUR 4.500 A Republic Of South Africa 05.04.16 2.4 106.59 1.86 150 South Africa Government XS0596538818 12'593'156 100000 / 1000 B B2 EUR 8.750 S Foodcorp Ltd 01.03.18 1.4 108.78 6.46 524 South Africa Consumer XS0615932331 12'839'304 100000 / 1000 BB Ba2 EUR 6.625 S Sappi Papier Holdng Gmbh 15.04.18 3.1 102.99 5.87 520 South Africa Basic Materials

XS0953958641 21'893'158 100000 / 1000 Baa1 EUR 3.750 A Spp Infrastructure Fin 18.07.20 6.0 103.38 3.19 189 South Korea Energy

XS0222293382 2'186'420 50000 / 1000 B Ba2 EUR 4.500 A Banque Cent De Tunisie 22.06.20 5.6 94.48 5.49 420 Tunisia Government National

DE000A0AU933 1'780'415 1000 NR Baa3 EUR 6.500 A Republic Of Turkey 10.02.14 0.4 102.63 0.41 31 Turkey Government XS0245387450 2'456'055 50000 / 1000 NR Baa3 EUR 5.000 A Republic Of Turkey 01.03.16 2.3 106.52 2.27 193 Turkey Government XS0212694920 2'067'825 2000 / 1000 NR Baa3 EUR 5.500 A Republic Of Turkey 16.02.17 3.1 106.63 3.42 289 Turkey Government XS0285127329 2'900'482 50000 / 1000 NR Baa3 EUR 5.875 A Republic Of Turkey 02.04.19 4.6 108.65 4.10 305 Turkey Government XS0503454166 11'225'639 50000 / 1000 NR Baa3 EUR 5.125 A Republic Of Turkey 18.05.20 5.5 103.64 4.48 321 Turkey Government

XS0605558856 12'670'229 100000 / 1000 AA Aa3 EUR 4.875 A Ipic Gmtn Ltd 14.05.16 2.5 109.21 1.36 99 UAE Financial XS0860583912 20'129'464 100000 / 1000 AA Aa3 EUR 2.375 A Ipic Gmtn Ltd 30.05.18 4.4 101.14 2.12 122 UAE Financial XS0605559821 12'670'404 100000 / 1000 AA Aa3 EUR 5.875 A Ipic Gmtn Ltd 14.03.21 6.1 117.46 3.22 178 UAE Financial XS0860584308 20'129'465 100000 / 1000 AA Aa3 EUR 3.625 A Ipic Gmtn Ltd 30.05.23 8.1 101.46 3.45 153 UAE Financial

XS0214851874 2'091'957 1000 B B2 EUR 7.000 A Republic Of Venezuela 16.03.15 1.4 101.50 5.91 568 Venezuela Government

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0718502007 14'487'382 100000 / 1000 BBB A3 GBP 6.250 A Petrobras Intl Fin Co 14.12.26 8.6 102.98 5.92 272 Brazil Energy

XS0627215378 13'035'848 100000 / 1000 BB Ba3 GBP 8.125 S  Jaguar Land Rover Automo 15.05.18 0.7 108.81 5.94 356 India Automaker

XS0430799725 10'218'028 50000 / 1000 BBB Baa1 GBP 8.250 A Petroleos Mexicanos 02.06.22 6.4 123.07 4.93 228 Mexico Energy XS0699618350 14'183'501 100000 / 1000 A- A2 GBP 5.000 A America Movil Sab De Cv 27.10.26 9.2 105.14 4.47 132 Mexico TMT

XS0609017917 12'733'625 100000 / 1000 BBB Baa1 GBP 7.487 S Rzd Capital Plc (Rzd) 25.03.31 9.8 110.75 6.45 311 Russia Transportation

XS0605560084 12'671'596 100000 / 1000 AA Aa3 GBP 6.875 A Ipic Gmtn Ltd 14.03.26 8.5 121.72 4.56 145 UAE Financial

XS0500321756 11'186'699 100000 / 1000 B- Caa1 USD 12.500 S City Of Buenos Aires 06.04.15 1.3 101.75 11.25 1096 Argentina Sovereign-linked Entity XS0546539486 11'820'571 100000 / 1000 B- Caa1 USD 11.750 S Provincia De Buenos Aire 05.10.15 1.7 90.63 17.28 1684 Argentina Sovereign-linked Entity US05963GAF54 3'355'961 100000 / 1000 B3 USD 8.500 S Banco Macro Sa 01.02.17 2.8 91.00 11.78 1080 Argentina Financial USP5880CAA82 2'903'480 2000 / 1000 B- USD 8.500 S C Irsa 02.02.17 2.8 93.50 10.83 985 Argentina Reits USP7873PAD89 3'090'410 2000 / 1000 BBB A3 USD 5.875 S Petrobras Argentina Sa 15.05.17 3.3 107.00 3.82 273 Argentina Energy XS0501195480 11'278'981 1 USD 8.750 S Republic Of Argentina 02.06.17 2.9 78.91 16.51 1540 Argentina Government XS0270992380 2'765'397 100000 / 1000 B- Caa1 USD 9.375 S Provincia De Buenos Aire 14.09.18 3.4 73.37 17.57 1591 Argentina Sovereign-linked Entity USP5880CAB65 11'550'117 2000 / 1000 B- USD 11.500 S Inversiones Y Representa 20.07.20 4.6 97.75 11.98 977 Argentina Real Estate USP0092MAD58 12'193'402 2000 B- B3 USD 10.750 Q Aeropuertos Argent 2000 01.12.20 3.1 96.00 12.04 992 Argentina Industrial US69783UAA97 11'279'022 2000 / 1000 B1 USD 7.875 S Pan American Energy Llc 07.05.21 5.5 100.50 7.78 541 Argentina Energy USP3710FAJ32 11'900'281 2000 / 1000 Caa1 USD 9.750 S C Emp Distribuidora Norte 25.10.22 4.3 54.00 21.40 1876 Argentina Utilities XS0290125391 3'049'374 100000 / 1000 B- Caa1 USD 9.625 S Provincia De Buenos Aire 18.04.28 5.9 65.50 15.71 1271 Argentina Sovereign-linked Entity US040114GL81 2'045'157 1 NR USD 8.280 S Republic Of Argentina 31.12.33 6.4 58.58 15.36 1232 Argentina Government

USN06537AD10 19'466'546 200000 / 1000 BBB+ USD 4.625 S Government Of Aruba 14.09.23 7.7 96.03 5.14 235 Aruba Government

XS0744126961 14'926'502 200000 / 1000 BB+ Ba1 USD 5.450 S State Oil Co Of The Azer 09.02.17 3.1 105.25 3.80 282 Azerbaijan Energy XS0903465127 20'899'844 200000 / 1000 BB+ Ba1 USD 4.750 S State Oil Co Of The Azer 13.03.23 7.3 91.40 5.95 324 Azerbaijan Energy

XS0847495248 19'903'594 200000 / 1000 Ba2 USD 8.250 S Investcorp Sa 01.11.17 3.4 105.09 6.82 553 Bahamas Financial USP06518AE74 10'753'554 1000 BBB Baa1 USD 6.950 S Commonwealth Of Bahamas 20.11.29 10.0 115.75 5.47 240 Bahamas Government

XS0521476118 11'474'602 100000 / 1000 BBB USD 5.000 S Bahrain Mumtalakat Hldng 30.06.15 1.7 103.88 2.80 245 Bahrain Financial XS0553706135 11'928'413 100000 / 1000 Baa2 USD 4.500 S Bbk 28.10.15 2.0 101.78 3.63 317 Bahrain Financial XS0498952679 11'169'680 100000 / 1000 BBB NR USD 5.500 S Kingdom Of Bahrain 31.03.20 5.3 98.74 5.73 361 Bahrain Government USP0763MBW03 11'190'460 100000 / 1000 Ba1 USD 7.875 S Banco Abc-Brasil Sa 08.04.20 4.9 100.75 7.73 560 Bahrain Financial XS0927183441 21'300'422 200000 / 1000 BBB- USD 4.250 S  Batelco Int Fin No 1 Ltd 01.05.20 5.6 91.33 5.84 369 Bahrain TMT XS0956406135 21'982'542 200000 / 1000 USD 6.125 S Kingdom Of Bahrain 01.08.23 7.3 97.56 6.46 368 Bahrain Government

XS0583616239 12'371'142 100000 / 1000 B- B3 USD 8.950 S Republic Of Belarus 26.01.18 3.5 91.88 11.34 995 Belarus Government

XS0863583281 20'197'880 200000 / 1000 BB USD 5.125 S Eurochem M & C Ojsc Via 12.12.17 3.7 98.26 5.59 425 Bermuda Basic Materials USG1035JAB47 11'535'732 100000 / 1000 AA- Aa3 USD 5.603 S Govt Of Bermuda 20.07.20 5.7 107.36 4.35 214 Bermuda Government US94707VAC46 18'335'195 2000 / 1000 BBB- Baa2 USD 4.500 S Weatherford Bermuda 15.04.22 6.9 97.24 4.90 235 Bermuda Energy

US10553JAE82 1'770'248 10000 / 1000 BBB- USD 11.750 S Braskem Sa 22.01.14 0.4 104.25 0.55 51 Brazil Basic Materials USG9393BAA29 1'772'347 1000 BBB WR USD 7.875 S Votorantim Overseas Iii 23.01.14 Brazil Industrial XS0603643205 12'639'094 150000 / 1000 B1 USD 6.500 S Banco Bmg Sa 14.03.14 0.5 100.00 6.50 644 Brazil Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USG6710EAC42 10'099'426 100000 / 1000 BBB- USD 9.625 S Odebrecht Finance Ltd 09.04.14 0.6 103.50 3.61 354 Brazil Industrial XS0628248915 13'024'530 200000 / 1000 Baa2 USD 3.500 S Banco Safra Sa 16.05.14 0.7 101.00 2.05 197 Brazil Financial US105756BD15 1'902'850 1000 BBB Baa2 USD 10.500 S Fed Republic Of Brazil 14.07.14 0.8 108.65 0.39 30 Brazil Government KYG1986QAA91 10'437'395 100000 / 1000 BBB Baa3 USD 9.500 S Raizen Fuels Finance 15.08.14 0.9 107.75 1.22 111 Brazil Consumer US71645WAJ09 1'949'178 1000 A3 USD 7.750 S Petrobras Intl Fin Co 15.09.14 1.0 107.17 0.73 60 Brazil Energy USG25842AA66 1'956'946 10000 / 1000 BBB- Ba1 USD 10.000 S Csn Islands Ix Corp 15.01.15 1.3 110.33 2.25 202 Brazil Basic Materials US05957PAQ90 10'926'196 100000 / 1000 BBB Baa1 USD 4.500 S Banco Do Brasil (Cayman) 22.01.15 1.3 104.15 1.46 123 Brazil Financial US71645WAV37 14'916'011 2000 / 1000 BBB A3 USD 2.875 S Petrobras Intl Fin Co 06.02.15 1.4 101.66 1.69 145 Brazil Energy XS0494896250 11'118'223 100000 / 1000 BB+ USD 6.500 S Banco Daycoval Sa 16.03.15 1.4 103.45 4.15 388 Brazil Financial NO0010640824 18'194'423 100000 / 1 USD 9.250 Q C Osx 3 Leasing Bv 20.03.15 1.2 85.50 22.05 2068 Brazil Industrial US05947LAG32 11'145'832 100000 / 1000 BBB Baa1 USD 4.100 S Banco Bradesco (Cayman) 23.03.15 1.5 103.61 1.73 145 Brazil Financial US05540NAA37 11'152'506 100000 / 1000 BB- Ba3 USD 5.625 S Bes Investimento Brasil 25.03.15 1.4 102.25 4.12 384 Brazil Financial US05966UAB08 11'191'244 100000 / 1000 BBB Baa1 USD 4.500 S Banco Santander Bras Ci 06.04.15 1.5 103.12 2.48 220 Brazil Financial USP1193TAJ36 11'992'520 100000 / 1000 BBB Baa2 USD 3.625 S Banco Do Nordeste Brasil 09.11.15 2.1 101.80 2.77 229 Brazil Financial USP22854AE65 2'348'800 100000 / 1000 BBB USD 7.750 S Cent Elet Brasileiras Sa 30.11.15 2.0 110.55 2.84 235 Brazil Utilities US50212TAB17 2'580'218 100000 / 1000 BBB USD 7.250 S Lpg International Inc 20.12.15 2.1 109.75 2.82 230 Brazil Basic Materials US91911TAF03 2'401'106 100000 / 1000 A- Baa2 USD 6.250 S Vale Do Rio Doce 11.01.16 2.2 109.99 1.88 134 Brazil Basic Materials US05966UAH77 12'301'095 150000 / 1000 BBB Baa1 USD 4.250 S Banco Santander Bras Ci 14.01.16 2.2 103.46 2.73 218 Brazil Financial USP07785AB71 2'382'062 100000 / 1000 B B1 USD 9.150 S Banco Bmg Sa 15.01.16 2.1 103.00 7.73 718 Brazil Financial US71645WAT80 12'381'295 2000 / 1000 BBB A3 USD 3.875 S Petrobras Intl Fin Co 27.01.16 2.3 103.22 2.48 192 Brazil Energy US05956QAA31 12'390'116 150000 / 1000 BB+ USD 6.250 S Banco Daycoval Sa 28.01.16 2.2 102.13 5.29 473 Brazil Financial XS0591920607 12'473'997 200000 / 1000 BBB- Baa2 USD 5.250 S Banco Votorantim 11.02.16 2.3 104.38 3.36 278 Brazil Financial US40432UAA51 12'980'001 200000 / 1000 BBB Baa1 USD 4.000 S Hsbc Bank Brasil Sa 11.05.16 2.5 104.21 2.37 170 Brazil Financial US05947LAK44 13'007'791 200000 / 1000 BBB Baa1 USD 4.125 S Banco Bradesco (Cayman) 16.05.16 2.5 104.27 2.48 180 Brazil Financial US71647NAC39 21'412'781 2000 / 1000 BBB A3 USD 2.000 S Petrobras Global Finance 20.05.16 2.6 98.86 2.44 175 Brazil Energy USP07790AA91 13'298'987 200000 / 1000 Baa3 USD 4.875 S Banco Btg Pactual/Cayman 08.07.16 2.6 103.13 3.70 297 Brazil Financial USP1655PAB96 2'738'145 100000 / 1000 BB Ba3 USD 10.250 S Bertin Sa & Finance Ltd 05.10.16 2.5 108.88 7.00 616 Brazil Consumer US71645WAL54 2'733'429 2000 / 1000 BBB A3 USD 6.125 S Petrobras Intl Fin Co 06.10.16 2.8 109.16 3.00 215 Brazil Energy USP3058WAB39 2'762'081 100000 / 1000 BB+ USD 7.500 S Cia Saneamento Basico 03.11.16 2.8 108.63 4.54 366 Brazil Utilities USG5814RAA61 2'788'226 2000 / 1000 B B2 USD 9.625 S Marfrig Overseas Ltd 16.11.16 2.7 104.50 7.99 711 Brazil Consumer US05947LAN82 14'693'234 200000 / 1000 BBB Baa1 USD 4.500 S Banco Bradesco (Cayman) 12.01.17 3.1 104.27 3.15 219 Brazil Financial US105756BM14 2'782'470 100000 / 1000 BBB Baa2 USD 6.000 S Fed Republic Of Brazil 17.01.17 3.1 112.01 2.27 131 Brazil Government US05958AAF57 14'351'146 200000 / 1000 Baa1 USD 3.875 S Banco Do Brasil (Cayman) 23.01.17 3.1 102.88 2.97 201 Brazil Financial US91911TAG85 2'797'165 2000 / 1000 A- Baa2 USD 6.250 S Vale Do Rio Doce 23.01.17 3.1 111.50 2.67 170 Brazil Basic Materials US29081YAB20 2'851'149 100000 / 1000 BBB Baa3 USD 6.375 S  Embraer Overseas Ltd 24.01.17 3.0 110.01 3.23 226 Brazil Industrial USP18533AK80 2'717'022 100000 / 1000 BBB- USD 8.000 S Braskem Sa 26.01.17 3.0 111.50 4.32 335 Brazil Basic Materials USG61473AA59 2'891'831 100000 / 1000 BB- B1 USD 9.500 S Minerva Overseas Ltd 01.02.17 2.9 110.25 6.12 514 Brazil Consumer USG24419AA47 2'891'357 100000 / 1000 BBB Baa3 USD 7.000 S Raizen Energy Finance 01.02.17 3.0 112.31 3.16 218 Brazil Industrial US71645WAU53 14'916'000 2000 / 1000 BBB A3 USD 3.500 S Petrobras Intl Fin Co 06.02.17 3.2 100.67 3.29 231 Brazil Energy US05966UAP93 14'954'807 200000 / 1000 BBB Baa1 USD 4.625 S Banco Santander Bras Ci 13.02.17 3.2 103.40 3.57 258 Brazil Financial US38045UAC45 3'404'986 2000 / 1000 B3 USD 7.500 S Gol Finance 03.04.17 2.9 93.04 9.85 880 Brazil Consumer US87484EAB74 3'072'370 100000 / 1000 BB- USD 7.375 S Tam Capital Inc 25.04.17 3.1 102.25 6.66 559 Brazil Consumer USG77650AA01 3'119'572 100000 / 1000 BBB- Baa3 USD 6.875 S Sadia Overseas Ltd 24.05.17 3.3 111.25 3.61 251 Brazil Consumer USN54468AB49 20'488'340 200000 / 1000 B B2 USD 9.875 S Marfrig Holding Europe B 24.07.17 3.1 101.13 9.52 834 Brazil Consumer USG2440JAE58 3'494'843 100000 / 1000 BBB- USD 7.250 S Gerdau 20.10.17 3.5 111.13 4.28 300 Brazil Basic Materials US12803X2A85 19'928'230 150000 / 1000 Baa2 USD 2.375 S Caixa Economica Federal 06.11.17 3.9 94.23 3.89 259 Brazil Financial USG93085AA94 3'693'858 100000 / 1000 BB+ Ba2 USD 7.250 S Usiminas Commercial Ltd 18.01.18 3.7 106.50 5.55 417 Brazil Basic Materials USG9372JAA00 12'390'125 200000 / 1000 B B3 USD 10.500 S Virgolino De Oliveira Fi 28.01.18 3.1 70.94 20.91 1952 Brazil Consumer USG11010AA62 11'568'132 100000 / 1000 BB Ba3 USD 8.250 S Jbs Finance Ii Limited 29.01.18 2.9 103.00 7.43 626 Brazil Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US71645WAM38 3'523'983 2000 / 1000 BBB A3 USD 5.875 S Petrobras Intl Fin Co 01.03.18 3.9 106.63 4.24 281 Brazil Energy XS0917011628 21'145'217 250000 / 1000 USD 4.500 S Btg Investments Lp 17.04.18 4.0 92.74 6.34 485 Brazil Financial USL01795AA80 21'256'293 200000 / 1000 Ba1 USD 4.000 S  Andrade Gutier Int Sa 30.04.18 4.1 93.75 5.54 404 Brazil Industrial USN54468AA65 12'979'571 200000 / 1000 B B2 USD 8.375 S Marfrig Holding Europe B 09.05.18 3.6 92.88 10.33 882 Brazil Consumer USP9159EAA03 12'995'866 2000 / 1000 B USD 9.750 S Cimento Tupi Sa 11.05.18 3.6 99.25 9.95 844 Brazil Industrial USG26593AA40 4'263'158 2000 / 1000 BB USD 8.750 S Diagnosticos Da America Sa 29.05.18 3.8 103.00 Brazil Consumer USP7356YAA12 13'106'707 200000 / 1000 CCC- Ca USD 8.500 S Ogx Austria Gmbh 01.06.18 1.9 19.13 64.61 6307 Brazil Energy USG1315RAA98 4'286'024 100000 / 1000 BBB- Baa3 USD 7.250 S Braskem Sa 05.06.18 4.0 110.80 4.69 314 Brazil Basic Materials USP14486AA54 917'673 100000 / 1000 BBB Baa2 USD 6.369 S  Banco Nac De Desen Econo 16.06.18 4.1 108.47 4.38 283 Brazil Sovereign-linked Entity USG7306EAA67 13'428'009 200000 / 1000 Baa3 USD 5.250 S Qgog Atlantic/Alaskan Ri 30.07.18 3.7 101.94 4.80 341 Brazil Energy US71645WAH43 1'740'229 1000 BBB A3 USD 8.375 S Petrobras Intl Fin Co 10.12.18 4.3 118.06 4.48 276 Brazil Energy US71647NAB55 21'412'784 2000 / 1000 BBB A3 USD 3.000 S Petrobras Global Finance 15.01.19 4.8 93.24 4.43 267 Brazil Energy US71645WAN11 2'333'080 2000 / 1000 BBB A3 USD 7.875 S Petrobras Intl Fin Co 15.03.19 4.4 114.12 4.93 312 Brazil Energy USP1193TAK09 18'500'441 150000 / 1000 BBB Baa2 USD 4.375 S Banco Do Nordeste Brasil 03.05.19 4.9 96.38 5.12 327 Brazil Financial USP14486AC11 10'251'187 100000 / 1000 BBB Baa2 USD 6.500 S Banco Nac De Desen Econo 10.06.19 4.8 108.20 4.85 297 Brazil Sovereign-linked Entity US91911TAJ25 10'544'049 2000 / 1000 A- Baa2 USD 5.625 S Vale Overseas Limited 15.09.19 5.0 108.06 4.10 214 Brazil Basic Materials USG2583XAA93 10'571'300 100000 / 1000 BBB- Ba1 USD 6.875 S Csn Islands Xi Corp 21.09.19 4.7 99.93 6.89 493 Brazil Basic Materials USG9393UAA00 10'590'236 100000 / 1000 BBB USD 6.625 S Voto-Votorantim O/S Trad 25.09.19 4.9 108.12 5.05 308 Brazil Industrial USG08010BH52 10'597'671 100000 / 1000 Baa2 USD 6.750 S Banco Bradesco (Cayman) 29.09.19 4.9 108.02 5.19 322 Brazil Financial USP04568AA23 10'604'092 100000 / 1000 Ba2 USD 7.500 S Arcos Dorados Bv 01.10.19 1.0 106.50 6.20 452 Brazil Consumer US105756BE97 1'970'563 1000 BBB Baa2 USD 8.875 S Fed Republic Of Brazil 14.10.19 4.8 129.07 3.54 156 Brazil Government USA57902AA51 19'828'938 200000 / 1000 BB- USD 8.250 S Oas Investments Gmbh 19.10.19 4.6 98.85 8.49 650 Brazil Industrial USG3400PAA50 10'691'699 100000 / 1000 BB+ Ba1 USD 9.250 S Fibria Overseas Finance 30.10.19 1.1 108.50 7.50 531 Brazil Basic Materials USL7877XAA74 19'976'580 200000 / 1000 BB+ USD 6.250 S Qgog Constellation Sa 09.11.19 4.9 93.58 7.57 556 Brazil Energy USP9634CAA91 19'973'048 200000 / 1000 BB- USD 9.875 S Usj Acucar E Alcool Sa 09.11.19 4.4 96.13 10.74 874 Brazil Consumer USG6147PAA69 1'099'596 100000 / 1000 BB- B1 USD 10.875 S Minerva Overseas Ii Ltd 15.11.19 1.9 109.00 8.95 810 Brazil Consumer US29081YAC03 10'634'218 1000 BBB Baa3 USD 6.375 S Embraer Overseas Ltd 15.01.20 5.2 112.56 4.11 205 Brazil Industrial US105756AK66 1'039'090 1000 BBB Baa2 USD 12.750 S Fed Republic Of Brazil 15.01.20 4.8 152.72 3.45 139 Brazil Government US05971BAB53 20'434'636 200000 / 1000 Baa3 USD 4.000 S Banco Btg Pactual/Cayman 16.01.20 5.4 87.88 6.34 428 Brazil Financial USU37405AA20 10'759'853 100000 / 1000 BBB- USD 7.000 S Gerdau Holdings Inc 20.01.20 5.1 105.38 5.97 391 Brazil Basic Materials US71645WAP68 10'689'561 2000 / 1000 BBB A3 USD 5.750 S Petrobras Intl Fin Co 20.01.20 5.3 102.47 5.29 322 Brazil Energy USP1516SFE11 10'913'833 100000 / 1000 Baa3 USD 7.375 S Banco Votorantim 21.01.20 5.0 104.38 6.52 446 Brazil Financial US05957PAR73 10'926'227 100000 / 1000 BBB Baa1 USD 6.000 S Banco Do Brasil (Cayman) 22.01.20 5.3 105.40 5.00 293 Brazil Financial USG3400TAA72 10'955'056 100000 / 1000 BBB- Baa3 USD 7.250 S Brasil Food 28.01.20 5.1 110.50 5.29 322 Brazil Consumer USU0901CAD21 14'859'740 2000 / 1000 BB Ba3 USD 8.250 S Jbs Usa Llc/Jbs Usa Fina 01.02.20 3.7 106.63 6.95 510 Brazil Consumer USD33488AA17 11'176'405 100000 / 1000 BB B1 USD 7.875 S Rearden G Holdings Eins 30.03.20 3.7 103.00 7.29 563 Brazil Industrial USG6710EAD25 10'668'024 100000 / 1000 BBB- Baa3 USD 7.000 S Odebrecht Finance Ltd 21.04.20 1.5 107.00 5.71 428 Brazil Industrial USP14996AG02 11'241'084 100000 / 1000 Ba3 USD 8.500 S Banco Panamericano Sa 23.04.20 4.9 102.25 8.05 591 Brazil Financial USP1337QAT42 11'243'711 100000 / 1000 Ba2 USD 8.500 S Banco Industr E Comrcl 27.04.20 4.6 84.50 11.94 979 Brazil Financial USG5814RAB45 11'273'322 100000 / 1000 B B2 USD 9.500 S Marfrig Overseas Ltd 04.05.20 4.7 97.19 10.08 793 Brazil Consumer USG3400PAB34 11'273'613 100000 / 1000 BB+ Ba1 USD 7.500 S Fibria Overseas Finance 04.05.20 1.5 107.89 6.04 440 Brazil Basic Materials USG1315RAB71 11'278'678 100000 / 1000 BBB- Baa3 USD 7.000 S Braskem Finance Ltd 07.05.20 5.2 104.75 6.12 396 Brazil Basic Materials USP14486AD93 10'887'733 100000 / 1000 BBB Baa2 USD 5.500 S Banco Nac De Desen Econo 12.07.20 5.6 102.62 5.04 283 Brazil Sovereign-linked Entity USP1728MAA10 11'526'847 100000 / 1000 BBB+ Baa1 USD 5.500 S Bm&Fbovespa Sa 16.07.20 5.6 103.18 4.95 273 Brazil Financial USP1400AAA27 11'525'963 100000 / 1000 Ba3 USD 9.625 S Banco Mercant Do Brasil 16.07.20 4.8 92.50 11.22 900 Brazil Financial USG3980PAD71 11'535'772 2000 / 1000 B- USD 9.250 S C Gol Finance 20.07.20 4.6 80.00 13.85 1163 Brazil Consumer USL21779AA88 11'546'609 100000 / 1000 BBB- Ba1 USD 6.500 S Csn Resources Sa 21.07.20 5.4 96.96 7.06 485 Brazil Basic Materials US91911TAL70 11'742'291 2000 / 1000 A- Baa2 USD 4.625 S Vale Overseas Limited 15.09.20 5.8 100.10 4.61 235 Brazil Basic Materials USP9037HAL70 11'743'648 100000 / 1000 BBB- Baa3 USD 5.500 S Telemar Norte Leste Sa 23.10.20 5.6 90.08 7.31 503 Brazil TMT

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USP3058WAC12 12'160'703 200000 / 1000 BB+ USD 6.250 S C Cia Saneamento Basico 16.12.20 4.4 100.46 6.17 441 Brazil Utilities US105756BS83 11'232'479 100000 / 1000 Baa2 USD 4.875 S Fed Republic Of Brazil 22.01.21 6.2 105.11 4.07 174 Brazil Government USG8600UAA19 11'772'609 100000 / 1000 BB Ba2 USD 5.875 S Suzano Trading Ltd 23.01.21 5.8 96.93 6.40 408 Brazil Basic Materials US71645WAR25 12'381'296 2000 / 1000 BBB A3 USD 5.375 S Petrobras Intl Fin Co 27.01.21 6.0 98.47 5.63 330 Brazil Energy USG3925DAA84 11'802'514 100000 / 1000 BBB- NR USD 5.750 S Gerdau Trade Inc 30.01.21 5.9 97.40 6.19 387 Brazil Basic Materials USG3400PAC17 12'604'973 150000 / 1000 BB+ Ba1 USD 6.750 S Fibria Overseas Finance 03.03.21 2.3 107.06 5.58 439 Brazil Basic Materials USG9400PAA24 11'180'066 100000 / 1000 BBB Baa3 USD 6.750 S Voto-Votorantim Ltd 05.04.21 5.8 106.88 5.62 326 Brazil Industrial USG1315RAD38 12'847'923 200000 / 1000 BBB- Baa3 USD 5.750 S Braskem Finance Ltd 15.04.21 5.9 95.13 6.57 421 Brazil Basic Materials USU0901CAC48 13'080'597 2000 / 1000 BB Ba3 USD 7.250 S Jbs Usa Llc/Jbs Usa Fina 01.06.21 4.6 103.44 6.67 465 Brazil Consumer USG86668AA10 13'106'681 200000 / 1000 BB- USD 8.375 S Tam Capital 3 Inc 03.06.21 5.5 99.11 8.53 614 Brazil Consumer USG67106AA51 12'016'223 100000 / 1000 Baa3 USD 6.350 S Odebrecht Drill Viii/Ix 30.06.21 6.0 99.13 6.49 409 Brazil Energy USP22854AG14 14'162'339 200000 / 1000 BBB Baa3 USD 5.750 S Cent Elet Brasileiras Sa 27.10.21 6.2 93.88 6.74 428 Brazil Utilities US91911TAM53 14'678'242 2000 / 1000 A- Baa2 USD 4.375 S Vale Overseas Limited 11.01.22 6.8 94.36 5.22 272 Brazil Basic Materials USP18445AG42 14'953'060 200000 / 1000 BBB- Baa3 USD 5.750 S Oi Sa 10.02.22 6.4 89.17 7.51 499 Brazil TMT USA6111FAA69 18'309'556 200000 / 1000 CCC- Ca USD 8.375 S Ogx Austria Gmbh 01.04.22 2.0 17.88 51.44 4890 Brazil Energy USP47773AL38 18'368'852 200000 / 1000 BBB+ Baa2 USD 4.875 S Globo Communicacoes Part 11.04.22 6.8 97.90 5.18 264 Brazil TMT USG1315RAG68 18'499'758 200000 / 1000 BBB- Baa3 USD 5.375 S Braskem Finance Ltd 02.05.22 6.6 91.57 6.67 412 Brazil Basic Materials USP47773AM11 18'460'209 200000 / 1000 BBB+ USD 5.307 S C Globo Communicacoes Part 11.05.22 3.3 99.50 6.37 437 Brazil TMT USP1905CAA82 18'750'572 200000 / 1000 BBB- Baa3 USD 5.875 S Brf Sa 06.06.22 6.7 101.07 5.72 315 Brazil Consumer US29082AAA51 18'824'392 2000 / 1000 BBB Baa3 USD 5.150 S Empresa Bras De Aeronau 15.06.22 6.9 99.66 5.20 262 Brazil Industrial USG6710EAK67 18'901'037 200000 / 1000 BBB- Baa3 USD 5.125 S Odebrecht Finance Ltd 26.06.22 6.9 96.03 5.70 313 Brazil Industrial USG785ARAA65 18'256'075 200000 / 10000 BBB- Baa3 USD 5.875 S Schahin Ii Finan Co Spv 25.09.22 6.7 94.50 6.68 406 Brazil Energy USP84050AA46 19'928'212 200000 / 1000 BBB USD 4.125 S Samarco Mineracao Sa 01.11.22 7.2 85.13 6.29 364 Brazil Basic Materials USP28610AA46 20'020'391 200000 / 1000 Baa2 USD 3.750 S Cielo Sa/Cielo Usa Inc 16.11.22 7.4 85.05 5.88 323 Brazil Consumer US105756BU30 19'443'932 200000 / 1000 BBB Baa2 USD 2.625 S Fed Republic Of Brazil 05.01.23 8.0 85.50 4.55 187 Brazil Government USL6401PAC79 20'504'329 200000 / 1000 BB- B1 USD 7.750 S Minerva Luxembourg Sa 31.01.23 6.5 98.56 7.97 528 Brazil Consumer USA9617TAA90 20'591'851 200000 / 1000 BB USD 6.250 S Esal Gmbh 05.02.23 6.8 89.79 7.80 511 Brazil Consumer USL20041AA41 20'908'889 200000 / 1000 BB Ba2 USD 5.000 S Cosan Luxembourg Sa 14.03.23 7.1 89.43 6.51 380 Brazil Consumer USG6710EAG55 12'777'024 150000 / 1000 BBB- Baa3 USD 6.000 S Odebrecht Finance Ltd 05.04.23 7.1 103.00 5.59 287 Brazil Industrial USG3925DAB67 21'122'682 200000 / 1000 BBB- Baa3 USD 4.750 S Gerdau Trade Inc 15.04.23 7.3 88.26 6.40 368 Brazil Basic Materials US71647NAF69 21'412'786 2000 / 1000 BBB A3 USD 4.375 S Petrobras Global Finance 20.05.23 7.5 88.39 5.97 323 Brazil Energy USP1905CAD22 21'435'649 200000 / 1000 BBB- Baa3 USD 3.950 S Brf Sa 22.05.23 7.7 85.88 5.88 314 Brazil Consumer US105756BF62 2'061'188 1000 BBB Baa2 USD 8.750 S Fed Republic Of Brazil 04.02.25 7.8 134.96 4.75 189 Brazil Government USG6710EAP54 21'212'928 200000 / 1000 BBB- Baa3 USD 4.375 S Odebrecht Finance Ltd 25.04.25 8.6 86.25 6.04 317 Brazil Industrial US105756AE07 656'931 1000 BBB Baa2 USD 10.125 S Fed Republic Of Brazil 15.05.27 8.5 151.25 4.93 198 Brazil Government US105756AL40 1'053'919 1000 BBB Baa2 USD 12.250 S Fed Republic Of Brazil 06.03.30 8.8 167.00 5.86 278 Brazil Government US91911TAE38 1'766'065 2000 / 1000 A- Baa2 USD 8.250 S Vale Overseas Limited 17.01.34 10.3 112.88 7.05 379 Brazil Basic Materials US105756BB58 1'767'060 1000 BBB Baa2 USD 8.250 S Fed Republic Of Brazil 20.01.34 10.9 126.96 5.95 269 Brazil Government US91911TAH68 2'797'086 2000 / 1000 A- Baa2 USD 6.875 S Vale Do Rio Doce 21.11.36 11.3 99.87 6.89 349 Brazil Basic Materials US105756BK57 2'405'175 1000 BBB Baa2 USD 7.125 S Fed Republic Of Brazil 20.01.37 12.0 114.36 5.98 258 Brazil Government US91911TAK97 10'717'884 2000 / 1000 A- Baa2 USD 6.875 S Vale Overseas Limited 10.11.39 11.8 99.37 6.93 340 Brazil Basic Materials US71645WAQ42 10'689'376 2000 / 1000 BBB A3 USD 6.875 S Petrobras Intl Fin Co 20.01.40 11.8 96.87 7.14 360 Brazil Energy US105756AP53 1'117'113 1000 BBB Baa2 USD 11.000 S C Fed Republic Of Brazil 17.08.40 1.8 117.96 9.19 122 Brazil Government US105756BR01 10'632'288 100000 / 1000 BBB Baa2 USD 5.625 S Fed Republic Of Brazil 07.01.41 13.5 96.74 5.87 228 Brazil Government US71645WAS08 12'384'726 2000 / 1000 BBB A3 USD 6.750 S Petrobras Intl Fin Co 27.01.41 12.0 95.11 7.16 358 Brazil Energy USU1065PAA94 13'419'885 200000 / 1000 BBB- Baa3 USD 7.125 S Braskem America Finance 22.07.41 10.9 87.06 8.32 472 Brazil Basic Materials

USG1986TAA37 10'765'041 100000 / 1000 Aa3 USD 5.950 S Cayman Islands Gov'T 24.11.19 5.2 112.12 3.75 173 Cayman Islands Government

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USP3143NAF17 1'983'097 100000 / 1000 AA- A1 USD 4.750 S Codelco Inc 15.10.14 1.1 104.81 0.40 25 Chile Basic Materials USP32133CE16 19'466'615 200000 / 1000 A A1 USD 3.000 S Banco De Cred E Inver 13.09.17 3.7 98.83 3.31 208 Chile Financial USP37110AD80 10'325'396 100000 / 1000 BBB- Baa3 USD 6.250 S Empresa Nacional De Petr 08.07.19 4.9 108.13 4.64 274 Chile Energy USP21963AD82 10'392'814 2000 / 1000 BBB- Baa3 USD 7.250 S Celulosa Arauco Constitu 29.07.19 4.9 115.80 4.20 228 Chile Basic Materials USP58072AE24 10'706'024 100000 / 1000 BBB Baa3 USD 6.125 S Inversiones Cmpc Sa 05.11.19 5.1 109.75 4.31 231 Chile Basic Materials USP2867KAC01 10'922'913 100000 / 1000 BBB- USD 6.000 S Colbun Sa 21.01.20 5.3 106.63 4.78 272 Chile Utilities USG86665AA70 10'687'786 100000 / 1000 BB- USD 9.500 S Tam Capital 2 Inc 29.01.20 3.5 102.68 8.94 736 Chile Consumer USP8718AAC01 11'228'498 100000 / 1000 BBB Baa1 USD 5.500 S Soc Quimica Y Minera De 21.04.20 5.5 107.13 4.25 211 Chile Basic Materials US168863AV04 11'592'073 100000 / 1000 AA- Aa3 USD 3.875 S Republic Of Chile 05.08.20 6.0 103.55 3.30 107 Chile Government USP37110AF39 11'614'984 100000 / 1000 BBB- Baa3 USD 5.250 S Empresa Nacional De Petr 10.08.20 5.7 102.00 4.91 267 Chile Energy USP1027DEN77 11'835'899 100000 / 1000 AA- Aa3 USD 4.125 S Banco Del Estado -Chile 07.10.20 6.0 101.05 3.95 168 Chile Financial USP3143NAM67 11'939'364 100000 / 1000 AA- A1 USD 3.750 S Codelco Inc 04.11.20 6.1 98.51 3.99 171 Chile Basic Materials USP36020AA68 12'160'698 100000 / 1000 BBB- USD 5.625 S E.Cl Sa 15.01.21 6.0 104.50 4.89 257 Chile Utilities USP2205JAE03 12'323'268 150000 / 1000 Baa3 USD 5.500 S Cencosud Sa 20.01.21 6.0 101.17 5.31 298 Chile Consumer USP21963AE65 11'760'942 2000 / 1000 BBB- Baa3 USD 5.000 S Celulosa Arauco Constitu 21.01.21 6.1 101.38 4.78 245 Chile Basic Materials US168863AW86 13'823'041 100000 / 1000 AA- Aa3 USD 3.250 S Republic Of Chile 14.09.21 6.9 97.22 3.65 121 Chile Government USP3143NAN41 14'226'305 200000 / 1000 AA- A1 USD 3.875 S Codelco Inc 03.11.21 6.8 97.56 4.23 177 Chile Basic Materials USP2195VAC92 14'678'240 2000 / 1000 BBB- Baa3 USD 4.750 S Celulosa Arauco Constitu 11.01.22 6.7 96.00 5.35 285 Chile Basic Materials USP58073AA84 18'441'521 150000 / 1000 BBB Baa3 USD 4.500 S Inversiones Cmpc Sa 25.04.22 6.9 95.13 5.21 266 Chile Basic Materials USP3143NAP98 19'027'040 200000 / 1000 AA- A1 USD 3.000 S Codelco Inc 17.07.22 7.6 90.23 4.34 175 Chile Basic Materials US05967FAB22 19'520'281 150000 / 1000 A Aa3 USD 3.875 S Banco Santander Chile 20.09.22 7.3 93.88 4.71 209 Chile Financial USP2205JAH34 20'145'686 200000 / 1000 Baa3 USD 4.875 S Cencosud Sa 20.01.23 7.3 92.67 5.90 322 Chile Consumer USP8718AAF32 21'044'838 200000 / 1000 BBB Baa1 USD 3.625 S Soc Quimica Y Minera De 03.04.23 7.8 90.50 4.88 216 Chile Basic Materials USP58072AG71 21'372'799 200000 / 1000 BBB USD 4.375 S Inversiones Cmpc Sa 15.05.23 7.6 93.38 5.25 252 Chile Basic Materials USP3143NAR54 22'089'350 200000 / 1000 AA- A1 USD 4.500 S Codelco Inc 13.08.23 7.9 98.61 4.68 189 Chile Basic Materials USP3143NAQ71 19'027'044 200000 / 1000 AA- A1 USD 4.250 S Codelco Inc 17.07.42 15.0 81.43 5.55 190 Chile Basic Materials

USG21555AA88 3'110'213 200000 / 1000 BB Ba3 USD 6.750 S  Citic Resources Fin 2007 15.05.14 0.7 102.96 2.42 234 China Energy XS0694447920 14'118'706 100000 BBB+ USD 3.750 S China Merchants Bank/Hk 21.10.14 1.1 102.15 1.81 166 China Financial USG3225AAA19 10'951'825 100000 / 1000 BB- B2 USD 13.000 S Evergrande Real Estate G 27.01.15 1.3 107.53 7.22 698 China Real Estate XS0531782273 11'610'113 100000 / 1000 BB- Ba3 USD 10.500 S Country Garden Hldg Co 11.08.15 1.8 111.58 4.20 382 China Real Estate USG2108VAB74 11'633'377 100000 / 1000 Ba3 USD 8.000 S China Oriental Group Co 18.08.15 1.8 100.55 7.69 730 China Basic Materials USG20768AA83 11'888'473 100000 / 1000 BB- B1 USD 12.250 S Central China Real Estat 20.10.15 China Real Estate USG44403AB26 11'958'967 100000 / 1000 CCC Caa2 USD 8.625 S Hidili Industry Intl Dev 04.11.15 1.7 73.47 25.24 2477 China Energy USG22004AC24 21'136'113 200000 / 1000 A+ A1 USD 1.450 S Cnpc General Capital 16.04.16 2.5 99.55 1.63 98 China Energy USG81877AC99 21'226'516 200000 / 1000 A+ Aa3 USD 1.250 S Sinopec Capital 2013 24.04.16 2.6 99.46 1.46 80 China Energy USG21895AA87 12'918'579 200000 / 1000 A+ A1 USD 3.125 S Cnpc Hk Overseas Capital 28.04.16 2.5 103.85 1.63 97 China Energy US12625GAA22 21'325'492 200000 / 1000 AA- Aa3 USD 1.125 S Cnooc Finance 2013 Ltd 09.05.16 2.6 99.21 1.43 75 China Energy XS0650848723 13'440'655 200000 / 1000 BB+ Ba1 USD 4.875 S Mcc Holding Hk Corp Ltd 29.07.16 2.7 100.53 4.68 392 China Basic Materials USY1391CDU28 14'240'239 200000 / 1000 A+ Aa3 USD 3.750 S Bank Of China Hong Kong 08.11.16 3.0 105.96 1.81 93 China Financial USG87572AA47 14'487'371 200000 / 1000 A- Baa1 USD 4.625 S Tencent Holdings Ltd 12.12.16 3.0 107.56 2.22 130 China TMT XS0745169044 14'984'454 200000 / 1000 BBB+ Baa1 USD 4.875 S China Overseas Fin Cayma 15.02.17 3.2 105.56 3.16 216 China Real Estate USG22004AA67 18'411'828 200000 / 1000 A+ A1 USD 2.750 S Cnpc General Capital 19.04.17 3.4 100.77 2.53 146 China Energy XS0767049371 18'416'347 200000 / 1000 BBB- Baa3 USD 4.375 S Shenzhen Intl Hldg 20.04.17 3.3 102.33 3.68 261 China Consumer USG2116MAC58 18'462'896 200000 / 1000 B+ USD 10.500 S China Shanshui Cement Gr 27.04.17 2.9 103.10 9.47 839 China Industrial USG01218AB54 11'249'682 100000 / 1000 BB Ba2 USD 8.875 S C Agile Property Hldgs Ltd 28.04.17 0.6 106.08 6.96 590 China Real Estate USY97279AA45 18'582'247 200000 / 1000 BBB- Baa3 USD 4.461 S Yancoal Intl Res Dev 16.05.17 3.3 96.66 5.47 437 China Energy USG8189YAA22 18'590'400 200000 / 1000 A+ Aa3 USD 2.750 S Sinopec Grp Oversea 2012 17.05.17 3.5 101.15 2.42 132 China Energy XS0794621010 18'832'542 200000 / 1000 BBB+ Baa1 USD 3.875 S Tingyi (C.I.) Hldg Corp 20.06.17 3.5 102.92 3.05 192 China Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0529670159 11'582'247 100000 / 1000 BB- B1 USD 9.650 S Shimao Ppty Hldng Ltd 03.08.17 0.9 109.13 6.94 444 China Real Estate XS0838771466 19'694'803 200000 / 1000 BBB- USD 2.875 S Boc Aviation Pte Ltd 10.10.17 3.8 97.20 3.62 235 China Financial XS0847609434 19'878'812 200000 / 1000 BB Ba1 USD 4.700 S Franshion Investment Ltd 26.10.17 3.7 98.83 5.02 373 China Real Estate USG2108VAC57 12'016'370 100000 / 1000 Ba3 USD 7.000 S C China Oriental Group Co 17.11.17 3.5 93.25 8.96 765 China Basic Materials US056752AA67 20'085'977 200000 / 1000 A3 USD 2.250 S Baidu Inc 28.11.17 4.0 97.87 2.79 146 China TMT XS0860854966 20'131'718 200000 / 1000 AA- Aa3 USD 2.000 S Amber Circle Funding Ltd 04.12.17 4.0 97.83 2.54 121 China Financial XS0758793342 18'171'497 200000 / 1000 BB Ba1 USD 6.875 S Citic Pacific Limited 21.01.18 3.7 101.33 6.52 513 China Basic Materials USG87572AD85 19'381'678 200000 / 1000 A- Baa1 USD 3.375 S  Tencent Holdings Ltd 05.03.18 4.1 100.30 3.30 187 China TMT XS0592717689 12'614'337 200000 / 1000 BB- B1 USD 11.000 S C Shimao Ppty Hldng Ltd 08.03.18 1.3 113.20 7.50 506 China Real Estate USG22004AD07 21'136'116 200000 / 1000 A+ A1 USD 1.950 S Cnpc General Capital 16.04.18 4.3 96.72 2.71 123 China Energy USG81877AB17 21'226'517 200000 / 1000 A+ Aa3 USD 1.875 S Sinopec Capital 2013 24.04.18 4.4 96.32 2.72 123 China Energy USG2115XAA66 21'226'558 200000 / 1000 BB+ Ba1 USD 5.250 S China Oil And Gas Group 25.04.18 4.0 100.47 5.13 364 China Energy XS0920864708 21'275'717 200000 / 1000 Ba1 USD 4.500 S Parkson Retail Group 03.05.18 4.1 93.88 6.02 452 China Consumer XS0923302227 21'275'724 200000 / 1000 A USD 2.500 S Citic Sec Finance 2013 03.05.18 4.3 95.14 3.64 214 China Financial US12625GAB05 21'325'496 200000 / 1000 AA- Aa3 USD 1.750 S Cnooc Finance 2013 Ltd 09.05.18 4.4 96.18 2.62 111 China Energy XS0933097668 21'412'817 200000 / 1000 BBB- Baa3 USD 3.000 S Bright Food Hong Kong Lt 21.05.18 4.3 95.19 4.13 261 China Industrial USG8449VAA47 21'435'725 200000 / 1000 AA- Aa3 USD 1.750 S State Grid Overseas Inv 22.05.18 4.5 96.40 2.57 104 China Utilities XS0942140335 21'579'552 200000 / 1000 USD 3.375 S Huaneng Hk Capital Ltd 11.06.18 4.3 96.12 4.28 274 China Utilities US056752AC24 22'031'856 200000 / 1000 A3 USD 3.250 S Baidu Inc 06.08.18 4.5 99.02 3.47 186 China TMT XS0945673191 22'127'992 200000 / 1000 USD 4.000 S Meiya Power Co Ltd 19.08.18 4.4 98.86 4.26 263 China Utilities XS0872804207 20'413'087 200000 / 1000 BB- B1 USD 6.625 S Shimao Ppty Hldng Ltd 14.01.20 5.0 94.30 7.78 572 China Real Estate XS0881550684 20'616'384 200000 / 1000 A A1 USD 3.625 S Hainan Airline Hk 07.02.20 5.6 95.58 4.42 234 China Consumer USY1391CAJ00 11'007'042 100000 / 1000 A A1 USD 5.550 S Bank Of China Hong Kong 11.02.20 5.4 106.69 4.35 226 China Financial XS0912154381 21'055'978 200000 / 1000 BB Ba1 USD 6.375 S Citic Pacific Limited 10.04.20 5.1 92.63 7.83 569 China Basic Materials XS0508012092 11'993'211 100000 / 1000 BBB+ Baa1 USD 5.500 S China Ovrsea Fin Ky Ii 10.11.20 5.8 103.26 4.95 267 China Real Estate USG8185TAA72 11'993'480 100000 / 1000 BBB Baa1 USD 4.500 S Sinochem Overseas Capita 12.11.20 6.0 100.74 4.38 209 China Industrial USG3709DAA03 12'862'651 200000 / 1000 BB Ba1 USD 6.750 S Franshion Development Lt 15.04.21 5.7 101.33 6.52 416 China Real Estate USG21895AB60 12'918'754 200000 / 1000 A+ A1 USD 4.500 S Cnpc Hk Overseas Capital 28.04.21 6.3 101.94 4.20 183 China Energy USG3066LAA91 12'995'845 200000 / 1000 BBB- Baa3 USD 6.000 S Enn Energy Holdings Ltd 13.05.21 6.0 104.62 5.26 288 China Energy USG2113BAA64 18'329'742 200000 / 1000 Baa1 USD 4.500 S China Resources Gas Grou 05.04.22 6.9 98.36 4.73 220 China Energy USG22004AB41 18'411'831 200000 / 1000 A+ A1 USD 3.950 S Cnpc General Capital 19.04.22 7.1 97.02 4.37 182 China Energy USG23530AA92 18'488'565 200000 / 1000 AA- Aa3 USD 3.875 S Cnooc Finance 2012 Ltd 02.05.22 7.2 96.71 4.33 178 China Energy USY97279AB28 18'582'260 200000 / 1000 BBB- Baa3 USD 5.730 S Yancoal Intl Res Dev 16.05.22 6.5 89.66 7.36 480 China Energy USG8189YAB05 18'590'402 200000 / 1000 A+ Aa3 USD 3.900 S Sinopec Grp Oversea 2012 17.05.22 7.2 97.16 4.29 174 China Energy USG2444PAA50 19'395'590 200000 / 1000 A- A3 USD 3.250 S Cosl Finance Bvi Ltd 06.09.22 7.5 90.51 4.55 193 China Energy XS0852986156 19'997'988 200000 / 1000 BBB+ Baa1 USD 3.950 S China Overseas Finance C 15.11.22 7.4 89.69 5.39 274 China Real Estate XS0856597314 20'045'384 200000 / 1000 BBB USD 4.125 S China Taiping Capital 21.11.22 7.3 89.12 5.66 300 China Financial US056752AB41 20'085'987 200000 / 1000 A3 USD 3.500 S Baidu Inc 28.11.22 7.6 91.59 4.63 197 China TMT XS0858461758 20'120'766 200000 / 1000 A1 USD 4.000 S Cosco Finance 2011 03.12.22 7.5 90.96 5.25 259 China Transportation XS0860855344 20'129'607 200000 / 1000 AA- Aa3 USD 3.250 S Amber Circle Funding Ltd 04.12.22 7.7 90.49 4.52 186 China Financial USG24524AG84 20'384'238 200000 / 1000 BB- Ba3 USD 7.500 S Country Garden Hldg Co 10.01.23 6.4 93.50 8.52 584 China Real Estate XS0836465608 19'781'693 200000 / 1000 BB Ba1 USD 6.800 S Citic Pacific Limited 17.01.23 6.6 88.75 8.57 589 China Basic Materials XS0875624099 20'558'258 200000 / 1000 USD 4.375 S Cosco Pacific Finance 20 31.01.23 7.4 87.74 6.11 342 China Consumer XS0880288997 20'591'976 200000 / 1000 BBB+ USD 3.850 S China Railway Resources 05.02.23 7.7 92.63 4.83 214 China Industrial USG22004AE89 21'136'118 200000 / 1000 A+ A1 USD 3.400 S Cnpc General Capital 16.04.23 7.9 91.40 4.51 179 China Energy USG81877AA34 21'226'518 200000 / 1000 A+ Aa3 USD 3.125 S Sinopec Capital 2013 24.04.23 8.0 90.04 4.40 168 China Energy XS0925008533 21'266'732 200000 / 1000 BBB- USD 4.375 S Boc Aviation Pte Ltd 02.05.23 7.6 93.26 5.27 254 China Financial US12625GAC87 21'325'498 200000 / 1000 AA- Aa3 USD 3.000 S Cnooc Finance 2013 Ltd 09.05.23 8.1 88.87 4.43 169 China Energy USG3958RAB53 21'423'890 200000 / 1000 BBB- Baa3 USD 4.625 S Golden Eagle Retail Grou 21.05.23 7.4 85.44 6.69 394 China Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USG8449VAB20 21'436'998 200000 / 1000 AA- Aa3 USD 3.125 S State Grid Overseas Inv 22.05.23 8.1 92.17 4.11 137 China Utilities XS0893206747 20'818'325 200000 / 1000 USD 6.100 S Citic Telecom Intl Finan 05.03.25 8.1 95.00 6.73 388 China TMT USG21895AC44 12'918'771 200000 / 1000 A+ A1 USD 5.950 S Cnpc Hk Overseas Capital 28.04.41 13.9 109.86 5.27 167 China Energy USG23530AB75 18'488'539 200000 / 1000 AA- Aa3 USD 5.000 S Cnooc Finance 2012 Ltd 02.05.42 14.6 96.53 5.23 159 China Energy USG8189YAC87 18'590'396 200000 / 1000 A+ Aa3 USD 4.875 S Sinopec Grp Oversea 2012 17.05.42 14.7 93.36 5.33 169 China Energy XS0852986313 19'997'989 200000 / 1000 BBB+ Baa1 USD 5.350 S China Overseas Finance C 15.11.42 13.6 88.78 6.18 252 China Real Estate USG81877AD72 21'226'519 200000 / 1000 A+ Aa3 USD 4.250 S Sinopec Capital 2013 24.04.43 15.2 83.91 5.34 165 China Energy US12625GAD60 21'325'500 200000 / 1000 AA- Aa3 USD 4.250 S Cnooc Finance 2013 Ltd 09.05.43 15.4 85.23 5.24 155 China Energy USG8449VAC03 21'436'545 200000 / 1000 AA- Aa3 USD 4.375 S State Grid Overseas Inv 22.05.43 15.7 91.05 4.95 126 China Utilities

USP1329PAA77 12'274'860 100000 / 1000 Baa2 USD 4.250 S Bancolombia Sa 12.01.16 2.2 100.00 4.25 370 Colombia Financial USP09252AB63 14'535'961 200000 / 1000 BBB- Baa2 USD 5.000 S Banco De Bogota Sa 15.01.17 3.1 103.81 3.78 282 Colombia Financial USG42045AA58 14'861'138 200000 / 1000 Baa3 USD 5.250 S Grupo Aval Ltd 01.02.17 3.1 103.92 4.01 303 Colombia Financial USG42036AA42 13'022'777 200000 / 1000 BBB USD 5.700 S Gruposura Finance 18.05.21 6.1 100.88 5.56 318 Colombia Financial US195325BN40 13'326'995 200000 / 1000 BBB Baa3 USD 4.375 S Republic Of Colombia 12.07.21 6.6 102.45 4.01 160 Colombia Government USP37100AA51 14'269'748 200000 / 1000 BB+ Baa3 USD 6.125 S Empresa De Energia De Bo 10.11.21 4.3 104.00 5.51 370 Colombia Utilities USC71058AB42 14'486'354 100000 / 1000 BB+ Ba2 USD 7.250 S Pacific Rubiales Energy 12.12.21 4.9 104.56 6.53 432 Colombia Energy USP93077AA61 18'207'829 200000 / 1000 BBB- Baa3 USD 5.700 S Transprtdra De Gas Intl 20.03.22 5.3 102.50 5.33 313 Colombia Energy USG42045AB32 196'155'999 200000 / 1000 Baa3 USD 4.750 S Grupo Aval Ltd 26.09.22 7.0 88.83 6.39 377 Colombia Financial USP3772NHK11 20'535'222 200000 / 1000 BBB Baa3 USD 2.625 S Republic Of Colombia 15.03.23 8.1 87.00 4.30 159 Colombia Government USC71058AC25 21'023'538 100000 / 1000 BB+ Ba2 USD 5.125 S  Pacific Rubiales Energy 28.03.23 7.1 90.38 6.49 378 Colombia Energy USP3083SAC90 21'311'616 200000 / 1000 Baa3 USD 4.375 S Transmantaro 07.05.23 7.5 90.50 5.66 293 Colombia Utilities US195325BM66 10'664'017 100000 / 1000 BBB Baa3 USD 6.125 S Republic Of Colombia 18.01.41 13.5 105.94 5.69 211 Colombia Government

USP56226AC09 14'267'418 200000 / 1000 Baa3 USD 6.950 S Instit Costa De Electric 10.11.21 6.1 104.63 6.22 375 Costa Rica Utilities USP3699PGB78 20'070'020 200000 / 1000 BB Baa3 USD 4.250 S Costa Rica Government 26.01.23 7.5 93.57 5.12 243 Costa Rica Government USP3699PGE18 21'256'942 200000 / 1000 BB Baa3 USD 4.375 S Costa Rica Government 30.04.25 8.7 90.00 5.55 269 Costa Rica Government

XS0776179656 18'448'544 200000 / 1000 BB+ Ba1 USD 6.250 S Croatia 27.04.17 3.2 105.38 4.63 355 Croatia Government XS0464257152 10'705'545 100000 / 1000 BB+ Ba1 USD 6.750 S Croatia 05.11.19 4.9 106.14 5.56 356 Croatia Government USX0027KAG32 19'708'327 200000 / 1000 B B2 USD 8.875 S Agrokor D.D 01.02.20 4.3 106.87 7.50 554 Croatia Consumer XS0525827845 11'518'049 100000 / 1000 BB+ Ba1 USD 6.625 S Croatia 14.07.20 5.4 104.56 5.81 360 Croatia Government XS0607904264 12'716'600 200000 / 1000 BB+ Ba1 USD 6.375 S Croatia 24.03.21 5.8 102.43 5.97 362 Croatia Government XS0908769887 21'045'172 200000 / 1000 BB+ Ba1 USD 5.500 S Croatia 04.04.23 7.1 96.27 6.02 330 Croatia Government

XS0808632847 20'697'562 200000 / 1000 BB+ Baa3 USD 4.450 S Ojsc Novo(Steel Funding) 19.02.18 4.0 97.15 5.17 375 Cyprus Basic Materials XS0783934325 19'616'018 200000 / 1000 BB+ Baa3 USD 4.950 S Ojsc Novo(Steel Funding) 26.09.19 5.0 96.82 5.57 361 Cyprus Basic Materials

XS0764313614 18'310'214 200000 / 1000 A- A2 USD 4.250 S Cez As 03.04.22 7.0 98.99 4.39 186 Czech Republic Utilities

XS0531270378 11'591'926 100000 / 1000 Caa1 USD 5.250 S Nile Finance Ltd 05.08.15 1.8 95.94 7.56 718 Egypt Financial XS0505265859 11'255'754 100000 / 1000 CCC+ Caa1 USD 5.750 S Arab Republic Of Egypt 29.04.20 5.2 86.56 8.43 628 Egypt Government XS0505478684 11'255'695 100000 / 1000 CCC+ Caa1 USD 6.875 S Arab Republic Of Egypt 30.04.40 10.0 76.88 9.22 567 Egypt Government

USG87361AA26 11'772'651 100000 / 1000 B1 USD 8.000 S Telemovil Finance Co Ltd 01.10.17 2.6 105.00 6.58 535 El Salvador TMT USP01012AQ98 10'770'439 100000 / 1000 BB- Ba3 USD 7.375 S Republic Of El Salvador 01.12.19 5.0 110.50 5.37 335 El Salvador Government

XS0333225000 3'612'146 100000 / 1000 BB- USD 8.200 S Gabonese Republic 12.12.17 3.6 113.13 4.76 342 Gabon Government

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0523947751 11'548'469 100000 / 1000 BB- USD 9.875 S Jsc Georgian Railway 22.07.15 1.7 110.69 3.92 355 Georgia Transportation XS0800346362 18'927'548 200000 / 1000 BB- USD 7.750 S Jsc Georgian Railway 11.07.22 6.4 106.83 6.71 413 Georgia Transportation

XS0323760370 3'440'933 100000 / 1000 B USD 8.500 S Republic Of Ghana 04.10.17 3.4 109.29 5.90 464 Ghana Government

XS0905659230 20'947'461 200000 / 1000 B B2 USD 7.500 S Honduras Government 15.03.24 6.6 84.91 9.83 702 Honduras Government

USG4672CAB12 1'728'577 100000 / 1000 A- A3 USD 6.250 S Hutchison Wham Int 03/33 24.01.14 0.4 102.12 0.73 69 Hong Kong Industrial XS0191426807 1'845'632 1000 A- A2 USD 5.500 S Hongkong Land Finance 28.04.14 0.6 102.78 1.18 111 Hong Kong Real Estate USG6542FAA96 11'596'078 100000 / 1000 BBB- Baa3 USD 4.875 S  Noble Group Ltd 05.08.15 1.8 104.82 2.29 191 Hong Kong Industrial USG46726AA63 10'540'375 100000 / 1000 A- A3 USD 4.625 S Hutchison Wham Int 09/16 11.09.15 1.9 106.52 1.34 93 Hong Kong Industrial XS0530341873 11'758'815 100000 / 1000 BB- B1 USD 9.500 S Rki Finance (2010) Ltd 21.09.15 0.1 105.47 6.59 -89 Hong Kong Real Estate USG9550BAA10 12'357'528 200000 / 1000 B+ B1 USD 7.500 S C West China Cement Ltd 25.01.16 2.1 99.56 7.70 714 Hong Kong Industrial XS0536564981 11'667'764 100000 / 1000 BBB Baa2 USD 4.250 S Pccw-Hkt Capital No4 Ltd 24.02.16 2.3 105.73 1.86 127 Hong Kong TMT USG75004AB07 11'722'480 100000 / 1000 CCC Caa1 USD 13.000 S Renhe Commercial Hlds Co 10.03.16 1.6 60.91 38.66 3805 Hong Kong Real Estate XS0247747081 2'483'979 100000 / 1000 A- A3 USD 5.625 S Swire Pacific Mtn Fin 30.03.16 2.4 109.89 1.68 105 Hong Kong Industrial USG2108YAA31 13'029'029 200000 / 1000 BBB Baa1 USD 4.625 S China Resources Land Ltd 19.05.16 2.5 104.68 2.82 213 Hong Kong Real Estate XS0643649956 13'265'409 100000 / 10000 A1 USD 4.250 S Zijin Intl Finance Co Lt 30.06.16 2.6 104.17 2.70 197 Hong Kong Basic Materials XS0681928114 14'183'344 200000 / 1000 A+ A1 USD 3.500 S Sun Hung Kai Prop (Cap) 02.11.16 3.0 104.23 2.11 124 Hong Kong Real Estate USG01198AC73 10'720'384 100000 / 1000 BB Ba2 USD 10.000 S C Agile Property Hldgs Ltd 14.11.16 0.2 106.83 7.55 41 Hong Kong Real Estate USG4673GAA34 14'726'867 200000 / 1000 A- A3 USD 3.500 S Hutch Whampoa Int 11 Ltd 13.01.17 3.1 103.54 2.40 144 Hong Kong Industrial XS0742215568 14'893'385 200000 / 1000 USD 4.625 S Wharf Finance Ltd 08.02.17 3.2 105.27 3.00 201 Hong Kong Industrial XS0745985878 14'963'965 200000 / 1000 USD 4.750 S Henderson Land Mtn Ltd 14.02.17 3.2 105.11 3.17 218 Hong Kong Real Estate XS0768440975 18'323'707 200000 / 1000 USD 4.750 S Howes Capital Ltd 10.04.17 3.2 104.97 3.27 222 Hong Kong Consumer XS0810321140 19'142'333 200000 / 1000 USD 4.750 S Dynamic Talent Ltd 01.08.17 3.5 101.26 4.40 321 Hong Kong Consumer XS0831245633 19'528'826 200000 / 1000 USD 3.250 S Sino Mtn 21.09.17 3.7 99.20 3.46 222 Hong Kong Real Estate XS0329230469 3'522'690 100000 / 1000 NR USD 6.125 S Wharf Finance Ltd 06.11.17 3.6 111.40 3.18 189 Hong Kong Industrial USG4690AAA54 19'976'577 200000 / 1000 A- A3 USD 2.000 S  Hutch Whampoa Int 12 Ii 08.11.17 3.9 97.97 2.52 122 Hong Kong Industrial XS0875312364 20'535'244 200000 / 1000 Ba1 USD 6.250 S C Hengdeli Holdings Ltd 29.01.18 3.8 99.15 6.47 508 Hong Kong Consumer USG24524AF02 12'526'288 200000 / 1000 BB- Ba3 USD 11.125 S Country Garden Hldg Co 23.02.18 1.4 112.88 7.66 530 Hong Kong Real Estate XS0906440333 20'956'853 200000 / 1000 BBB- Baa3 USD 3.625 S Noble Group Ltd 20.03.18 4.0 94.99 4.87 342 Hong Kong Industrial XS0798486543 18'896'592 200000 / 1000 USD 6.000 S Fpc Finance Ltd 28.06.19 4.8 101.80 5.63 374 Hong Kong Consumer XS0446665886 10'460'968 100000 / 1000 A- A3 USD 5.500 S Swire Pacific Mtn Fin 19.08.19 5.1 110.45 3.54 160 Hong Kong Industrial USG4671AAA81 10'540'363 100000 / 1000 A- A3 USD 5.750 S Hutchison Wham Int 09/19 11.09.19 5.0 112.09 3.50 155 Hong Kong Industrial USG6542TAE13 10'686'757 100000 / 1000 BBB- Baa3 USD 6.750 S Noble Group Ltd 29.01.20 5.1 100.69 6.61 454 Hong Kong Industrial XS0485770670 11'003'620 100000 / 1000 USD 7.000 S Fita International Ltd 10.02.20 5.2 109.24 5.28 320 Hong Kong Real Estate XS0899374002 20'866'830 200000 / 1000 A- A2 USD 2.750 S Swire Propert Mtn Fin 07.03.20 5.8 93.53 3.88 178 Hong Kong Real Estate XS0493535966 11'133'059 100000 / 1000 A A1 USD 4.750 S Clp Power Hk Financing 19.03.20 5.5 105.69 3.76 165 Hong Kong Utilities XS0507147725 11'299'089 100000 / 1000 BBB+ A3 USD 5.250 S Li & Fung Ltd 13.05.20 5.5 104.47 4.47 231 Hong Kong Consumer XS0520042416 11'453'439 100000 / 1000 A+ A1 USD 5.875 S Standard Chartered Bk Hk 24.06.20 5.6 108.57 4.40 221 Hong Kong Financial USG6542FAB79 11'596'081 100000 / 1000 BBB- Baa3 USD 6.625 S Noble Group Ltd 05.08.20 1.8 101.03 6.44 567 Hong Kong Industrial XS0554846781 11'950'114 100000 / 1000 A+ A1 USD 4.000 S Sun Hung Kai Prop (Cap) 02.11.20 6.1 100.37 3.94 166 Hong Kong Real Estate XS0561639211 12'061'596 100000 / 1000 BBB USD 6.125 S Fubon Bank Hong Kong Ltd 30.11.20 5.8 109.53 4.56 227 Hong Kong Financial XS0565475505 12'132'639 100000 / 1000 A+ USD 4.250 S Hongkong Electric Financ 14.12.20 6.2 103.40 3.71 141 Hong Kong Utilities USG2353WAA92 12'390'127 200000 / 1000 AA- Aa3 USD 4.250 S Cnooc Finance 2011 Ltd 26.01.21 6.3 101.04 4.08 176 Hong Kong Energy XS0635017196 13'323'343 200000 / 1000 A A1 USD 4.750 S Clp Power Hk Financing 12.07.21 6.5 105.46 3.93 153 Hong Kong Utilities USG4673GAB17 14'739'309 200000 / 1000 A- A3 USD 4.625 S Hutch Whampoa Int 11 Ltd 13.01.22 6.9 102.28 4.30 180 Hong Kong Industrial XS0744757526 14'948'493 200000 / 1000 A+ A1 USD 4.500 S Sun Hung Kai Prop (Cap) 14.02.22 6.9 99.98 4.50 199 Hong Kong Real Estate XS0751513572 18'050'785 200000 / 1000 A- A3 USD 4.500 S Swire Pacific Mtn Fin 28.02.22 7.0 100.81 4.39 186 Hong Kong Industrial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0766460157 18'407'110 200000 / 1000 USD 5.750 S Pccw Capital No4 Ltd 17.04.22 6.6 99.92 5.76 322 Hong Kong TMT XS0700181521 14'231'200 200000 / 1000 A- A3 USD 6.375 S C Bank Of East Asia Ltd 04.05.22 3.2 108.30 5.41 284 Hong Kong Financial XS0782786171 18'700'582 200000 / 1000 A- A2 USD 4.500 S Hongkong Land Finance 01.06.22 7.1 100.63 4.41 184 Hong Kong Real Estate XS0794206465 18'816'767 200000 / 1000 A- A2 USD 4.375 S Swire Propert Mtn Fin 18.06.22 7.2 99.54 4.44 186 Hong Kong Real Estate XS0831371264 19'550'006 200000 / 1000 BBB- Baa3 USD 4.500 S Nan Fung Treasury Ltd 20.09.22 7.1 93.55 5.41 279 Hong Kong Industrial XS0841191991 19'791'562 200000 / 1000 Baa3 USD 4.250 S Ls Finance 2022 Ltd 16.10.22 7.2 91.20 5.49 286 Hong Kong Consumer USG4690AAB38 19'976'585 200000 / 1000 A- A3 USD 3.250 S Hutch Whampoa Int 12 Ii 08.11.22 7.7 92.03 4.31 166 Hong Kong Industrial XS0873639701 20'411'974 200000 / 1000 A+ A1 USD 3.625 S  Sun Hung Kai Prop (Cap) 16.01.23 7.7 92.75 4.59 191 Hong Kong Real Estate XS0871996491 20'434'643 200000 / 1000 BBB+ A3 USD 3.500 S Hysan (Mtn) Limited 16.01.23 7.8 93.10 4.41 173 Hong Kong Real Estate XS0900763029 20'879'788 200000 / 1000 BBB Baa2 USD 3.750 S Pccw-Hkt Capital No5 Ltd 08.03.23 7.6 89.57 5.15 245 Hong Kong TMT XS0909306135 21'063'336 200000 / 1000 USD 3.875 S Smartone Finance Ltd 08.04.23 7.6 87.10 5.63 291 Hong Kong TMT XS0914313357 21'152'543 200000 / 1000 USD 4.500 S Fpc Treasury Ltd 16.04.23 7.4 85.97 6.48 376 Hong Kong Consumer XS0846197019 19'870'958 200000 / 1000 A A1 USD 2.875 S Clp Power Hk Financing 26.04.23 8.1 88.95 4.29 156 Hong Kong Utilities XS0848445358 19'873'016 200000 / 1000 A A1 USD 3.375 S Clp Power Hk Financing 26.10.27 10.7 85.41 4.81 183 Hong Kong Utilities USG2353WAB75 12'390'128 200000 / 1000 AA- Aa3 USD 5.750 S Cnooc Finance 2011 Ltd 26.01.41 14.1 107.40 5.24 166 Hong Kong Energy

US445545AC05 2'058'790 1000 BB Ba1 USD 4.750 S Hungary 03.02.15 1.4 102.64 2.83 259 Hungary Government XS0864511588 20'206'837 200000 / 1000 BB USD 5.500 S Magyar Export-Import Ban 12.02.18 3.9 100.56 5.35 394 Hungary Financial US445545AG19 20'711'035 2000 BB Ba1 USD 4.125 S Hungary 19.02.18 4.0 97.69 4.71 329 Hungary Government XS0834435702 19'616'559 200000 / 1000 BB+ USD 6.250 S Mol Group Finance Sa 26.09.19 4.8 98.55 6.54 458 Hungary Energy US445545AD87 10'967'104 1000 BB Ba1 USD 6.250 S Hungary 29.01.20 5.2 103.88 5.52 345 Hungary Government XS0928972909 21'412'831 200000 / 1000 BB- USD 7.875 S C Nitrogenmuvek Zrt 21.05.20 4.9 94.03 9.08 691 Hungary Basic Materials US445545AE60 12'769'084 2000 BB Ba1 USD 6.375 S Hungary 29.03.21 5.8 103.88 5.74 338 Hungary Government US445545AH91 20'711'039 2000 BB Ba1 USD 5.375 S Hungary 21.02.23 7.2 94.71 6.12 342 Hungary Government US445545AF36 12'769'081 2000 BB Ba1 USD 7.625 S Hungary 29.03.41 11.3 103.53 7.32 373 Hungary Government

USG9328DAE07 4'358'909 100000 / 1000 BB Ba3 USD 8.750 S  Vedanta Resources Plc 15.01.14 0.4 102.06 2.94 291 India Basic Materials XS0458057352 10'680'813 100000 / 1000 BBB- Baa2 USD 4.500 S State Bank India/London 23.10.14 1.1 102.28 2.45 229 India Financial XS0480289189 10'921'428 100000 / 1000 Baa3 USD 4.750 S Indian Oil Corp Ltd 22.01.15 1.3 103.09 2.46 223 India Energy XS0482911129 10'966'750 100000 / 1000 BBB- Baa3 USD 4.375 S Export-Import Bk India 02.02.15 1.4 102.09 2.85 261 India Financial USM5314BAE13 10'769'461 100000 / 1000 BBB- Baa2 USD 5.500 S Icici Bank Ltd/Bahrain 25.03.15 1.5 103.67 3.07 279 India Financial XS0503524711 11'229'259 100000 / 1000 BBB- Baa3 USD 4.400 S Export-Import Bk India 21.04.15 1.5 102.48 2.83 253 India Financial USY81636AA39 11'568'187 100000 / 1000 BBB- Baa2 USD 4.500 S State Bank India/London 27.07.15 1.8 102.65 3.05 268 India Financial XS0498932721 11'170'947 100000 / 1000 BBB- Baa3 USD 4.750 S Bank Of India London 30.09.15 1.9 102.37 3.55 312 India Financial XS0463466028 11'176'140 100000 / 1000 BBB- Baa2 USD 5.250 S Axis Bank/Dubai 30.09.15 1.9 103.42 3.52 309 India Financial XS0483734298 11'183'466 100000 / 1000 Baa3 USD 4.750 S Bank Of Baroda/London 07.10.15 1.9 102.44 3.53 309 India Financial USY3860XAB92 11'523'006 100000 / 1000 BBB- Baa2 USD 5.000 S  Icici Bank Ltd/Hong Kong 15.01.16 2.2 102.46 3.90 335 India Financial XS0579361428 12'356'656 100000 / 1000 Baa3 USD 4.250 S Rural Electrification 25.01.16 2.2 101.44 3.61 305 India Financial XS0530173987 11'592'789 100000 / 1000 BBB- Baa3 USD 4.750 S Idbi Bank Ltd/Difc Dubai 05.02.16 2.3 101.03 4.30 373 India Financial XS0502133159 11'607'280 100000 / 1000 BBB- Baa3 USD 4.625 S Union Bank Of India Hk 11.02.16 2.3 100.97 4.20 362 India Financial XS0602696618 12'782'077 200000 / 1000 BBB- Baa3 USD 4.406 S Indian Railway Finance C 30.03.16 2.4 101.90 3.62 299 India Financial US05463EAA64 11'949'100 100000 / 1000 BBB- Baa2 USD 4.750 S Axis Bank/Dubai 02.05.16 2.4 101.37 4.20 353 India Financial USG9328DAF71 13'107'160 200000 / 1000 BB Ba3 USD 6.750 S  Vedanta Resources Plc 07.06.16 2.5 102.22 5.86 516 India Basic Materials XS0594008517 12'534'946 200000 / 1000 Baa3 USD 5.000 S Bank Of Baroda/London 24.08.16 2.7 102.17 4.21 342 India Financial XS0595649608 12'634'485 200000 / 1000 Baa3 USD 5.125 S Canara Bank London 09.09.16 2.7 102.88 4.10 329 India Financial XS0615783239 12'875'775 200000 / 1000 BBB- Baa3 USD 5.000 S Indian Overseas Bank/Hk 19.10.16 2.8 101.59 4.45 359 India Financial XS0620328392 12'971'932 200000 / 1000 BBB- Baa3 USD 4.750 S Syndicate Bank 06.11.16 2.9 101.09 4.38 350 India Financial US45112FAB22 13'074'684 200000 / 1000 BBB- Baa2 USD 4.750 S Icici Bank Ltd/Dubai 25.11.16 2.9 101.20 4.34 345 India Financial USU85528AB04 19'141'334 200000 / 1000 BBB- Baa2 USD 4.125 S State Bank India/London 01.08.17 3.5 97.98 4.70 351 India Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0813393849 19'183'716 200000 / 1000 BBB- Baa3 USD 4.000 S Export-Import Bk India 07.08.17 3.6 98.25 4.49 330 India Financial XS0836520717 19'743'654 200000 / 1000 BBB- Baa3 USD 3.417 S Indian Railway Finance C 10.10.17 3.7 95.47 4.64 338 India Financial XS0773015853 19'277'610 200000 / 1000 BBB- Baa3 USD 4.625 S Indian Overseas Bank/Hk 21.02.18 4.0 96.22 5.59 417 India Financial US45112FAC05 19'289'158 200000 / 1000 BBB- Baa2 USD 4.700 S Icici Bank Ltd/Dubai 21.02.18 4.0 97.76 5.27 385 India Financial XS0897434949 20'829'901 200000 / 1000 BBB- Baa2 USD 3.000 S Hdfc Bank Ltd/Bah 06.03.18 4.1 92.23 4.95 351 India Financial XS0832492267 19'569'094 200000 / 1000 BBB- Baa3 USD 4.375 S Idbi Bank Ltd 26.03.18 4.0 95.31 5.55 409 India Financial XS0907891047 21'034'797 200000 / 1000 Baa2 USD 4.969 Q Ae Rotor Holding Bv 28.03.18 3.9 96.05 6.01 455 India Financial XS0841358103 19'791'674 200000 / 1000 BBB- Baa3 USD 4.125 S Syndicate Bank 12.04.18 4.0 94.28 5.55 407 India Financial USY81636AC94 21'163'588 200000 / 1000 BBB- Baa2 USD 3.250 S State Bank India/London 18.04.18 4.2 92.88 4.99 351 India Financial XS0927643030 21'300'422 200000 / 1000 BBB- Baa2 USD 2.500 S Ongc Videsh Ltd 07.05.18 4.3 90.98 4.67 316 India Energy USG50027AA20 13'029'039 150000 / 1000 BB Ba3 USD 7.750 S Jaguar Land Rover Automo 15.05.18 0.7 110.30 5.24 109 India Automaker USG9328DAD24 4'358'888 100000 / 1000 BB Ba3 USD 9.500 S Vedanta Resources Plc 18.07.18 3.8 106.63 7.83 624 India Basic Materials USY06865AA04 20'968'424 200000 / 1000 BBB- Baa3 USD 3.625 S Bank Of India London 21.09.18 4.4 91.80 5.51 385 India Financial XS0923436264 21'242'299 200000 / 1000 BBB- Baa3 USD 3.625 S Union Bank Of India Hk 25.10.18 4.5 92.08 5.41 372 India Financial XS0908349912 20'996'822 200000 / 1000 BBB- Baa3 USD 3.750 S Idbi Bank Ltd/Difc Dubai 25.01.19 4.7 89.95 5.96 419 India Financial USG9328DAH38 21'487'052 200000 / 1000 BB Ba3 USD 6.000 S Vedanta Resources Plc 31.01.19 4.4 92.38 7.75 598 India Basic Materials USU75888AA26 11'891'783 250000 / 1000 BBB+ Baa2 USD 4.500 S Reliance Holdings Usa 19.10.20 5.9 95.10 5.33 306 India Energy USY3860XAC75 12'003'016 100000 / 1000 BBB- Baa2 USD 5.750 S Icici Bank Limited 16.11.20 5.7 97.21 6.23 395 India Financial XS0561859926 12'038'641 100000 / 1000 Ba1 USD 7.000 S Icici Bank Uk Plc 23.11.20 5.5 100.29 6.95 465 India Financial XS0592238876 12'484'775 200000 / 1000 BBB- Baa3 USD 6.250 S Bank Of India London 16.02.21 5.8 98.05 6.59 425 India Financial USG50027AB03 13'029'003 150000 / 1000 BB Ba3 USD 8.125 S C Jaguar Land Rover Automo 15.05.21 2.4 112.40 6.08 393 India Automaker USG9328DAG54 13'106'717 200000 / 1000 BB Ba3 USD 8.250 S Vedanta Resources Plc 07.06.21 5.5 95.62 9.04 666 India Basic Materials XS0654493823 13'449'047 200000 / 1000 Baa3 USD 5.625 S Indian Oil Corp Ltd 02.08.21 6.2 95.17 6.41 399 India Energy XS0835676353 19'650'367 200000 / 1000 BBB- USD 4.750 S Ntpc Ltd 03.10.22 7.0 87.62 6.58 395 India Utilities XS0848436365 19'870'982 200000 / 1000 Baa3 USD 4.625 S Bharat Petroleum Corp Lt 25.10.22 7.0 86.23 6.66 402 India Energy XS0872917660 20'412'400 200000 / 1000 BBB- Baa3 USD 4.000 S Export-Import Bk India 14.01.23 7.4 82.46 6.53 386 India Financial XS0875759184 20'446'101 200000 / 1000 BBB- USD 3.875 S Power Grid Corp Of India 17.01.23 7.4 80.68 6.68 400 India Utilities USG50027AE42 20'549'467 150000 / 1000 BB Ba3 USD 5.625 S Jaguar Land Rover Automo 01.02.23 7.2 99.07 5.75 307 India Automaker USN1384FAA32 20'866'824 200000 / 1000 BB+ USD 5.125 S Bharti Airtel Internatio 11.03.23 7.0 86.17 7.15 445 India TMT XS0922882344 21'299'643 200000 / 1000 BBB- Baa2 USD 3.750 S Ongc Videsh Ltd 07.05.23 7.6 79.76 6.61 388 India Energy USG9328DAJ93 21'487'055 200000 / 1000 BB Ba3 USD 7.125 S Vedanta Resources Plc 31.05.23 6.6 87.72 9.04 630 India Basic Materials XS0955024236 21'972'769 200000 / 1000 Baa3 USD 5.750 S Indian Oil Corp Ltd 01.08.23 7.3 92.76 6.76 399 India Energy USY72596BT83 20'588'330 200000 / 1000 BBB+ Baa2 USD 5.875 S C Reliance Industries Ltd 12.7 80.17 7.48 378 India Energy

USN54360AB30 2'745'035 100000 / 1000 BB Baa3 USD 7.750 S Pln 17.10.16 2.7 110.13 4.24 339 Indonesia Utilities USY10038AA81 10'728'157 100000 / 1000 CCC Caa1 USD 12.000 S C Bumi Capital Pte Ltd 10.11.16 2.1 59.50 33.64 3276 Indonesia Energy XS0776178419 18'448'546 200000 / 1000 BB+ Baa3 USD 3.750 S Indonesia Eximbank 26.04.17 3.3 97.81 4.41 333 Indonesia Financial XS0776621970 18'477'436 200000 / 1000 BB Baa3 USD 4.125 S Bank Negara Indonesia Lo 27.04.17 3.3 98.75 4.50 342 Indonesia Financial USN54360AC13 3'219'211 100000 / 1000 BB Baa3 USD 7.250 S Pln 28.06.17 3.3 108.74 4.72 357 Indonesia Utilities USY10048AA71 11'835'907 100000 / 1000 CCC Caa1 USD 10.750 S Bumi Investment Pte Ltd 06.10.17 2.6 59.12 28.20 2694 Indonesia Energy USY85516AA35 21'034'627 200000 / 1000 Ba3 USD 4.625 S Tbg Global Pte Ltd 03.04.18 3.9 93.13 6.38 491 Indonesia TMT USY70902AA21 10'669'384 100000 / 1000 Ba1 USD 7.625 S Pt Adaro Indonesia 22.10.19 1.9 105.06 6.60 573 Indonesia Energy USY20721AQ27 10'913'463 100000 / 1000 BB+ Baa3 USD 5.875 S Republic Of Indonesia 13.03.20 5.2 100.34 5.81 370 Indonesia Government USN44519AA99 11'569'775 100000 / 1000 BB+ Ba1 USD 7.375 S C Indosat Palapa Co Bv 29.07.20 1.8 106.88 6.14 501 Indonesia TMT USY20721AU39 12'786'187 200000 / 1000 BB+ Baa3 USD 4.875 S Republic Of Indonesia 05.05.21 6.1 93.06 6.02 364 Indonesia Government USY7138AAA89 13'050'136 200000 / 1000 BB+ Baa3 USD 5.250 S Pertamina Pt 23.05.21 6.1 91.78 6.63 424 Indonesia Energy US71568QAA58 14'338'722 200000 / 1000 BB Baa3 USD 5.500 S Perusahaan Listrik Negar 22.11.21 6.3 91.63 6.85 438 Indonesia Utilities USY20721BC22 18'433'551 200000 / 1000 BB+ Baa3 USD 3.750 S Republic Of Indonesia 25.04.22 7.0 85.37 5.94 339 Indonesia Government USY7138AAC46 18'499'802 200000 / 1000 BB+ Baa3 USD 4.875 S Pertamina Pt 03.05.22 6.7 87.25 6.85 430 Indonesia Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USY20721BD05 21'122'761 200000 / 1000 BB+ Baa3 USD 3.375 S Republic Of Indonesia 15.04.23 7.7 81.25 5.97 324 Indonesia Government USY7138AAE02 21'412'780 200000 / 1000 BB+ Baa3 USD 4.300 S Pertamina Persero Pt 20.05.23 7.5 82.13 6.85 411 Indonesia Energy USY20721BH19 21'878'569 200000 / 1000 BB+ Baa3 USD 5.375 S Republic Of Indonesia 17.10.23 7.6 93.92 6.19 340 Indonesia Government US71568QAB32 19'847'316 200000 / 1000 BB Baa3 USD 5.250 S Perusahaan Listrik Negar 24.10.42 11.9 70.50 7.84 417 Indonesia Utilities USY20721BE87 21'122'763 200000 / 1000 BB+ Baa3 USD 4.625 S Republic Of Indonesia 15.04.43 13.3 71.94 6.85 317 Indonesia Government USY7138AAF76 21'412'778 200000 / 1000 BB+ Baa3 USD 5.625 S Pertamina Persero Pt 20.05.43 11.7 72.70 8.06 437 Indonesia Energy

US803865AA25 19'985'559 200000 / 1000 BBB Baa1 USD 4.500 S Sasol Financing Int 14.11.22 7.2 90.31 5.88 323 Isle Of Man Energy

US88165FAC68 14'296'430 2000 / 1000 A- A3 USD 2.400 S Teva Pharmaceut Fin Bv 10.11.16 3.0 102.85 1.48 60 Israel Consumer US46507NAC48 14'964'863 200000 / 1000 BB+ Baa3 USD 6.700 S Israel Electric Corp Ltd 10.02.17 3.1 107.15 4.43 344 Israel Utilities XS0887586922 20'634'247 200000 / 1000 USD 5.000 S Bankpozitif Kredi Ve Kal 07.02.18 3.9 93.50 6.72 532 Israel Financial US46507NAD21 21'687'788 200000 / 1000 BB+ Baa3 USD 5.625 S Israel Electric Corp Ltd 21.06.18 4.1 102.49 5.03 347 Israel Utilities USL0178WAA01 20'229'241 200000 / 1000 BB- B1 USD 7.875 S Altice Financing Sa 15.12.19 3.6 106.25 6.64 484 Israel TMT USL0179RAA07 20'227'067 200000 / 1000 B- B3 USD 9.875 S Altice Finco Sa 15.12.20 4.0 108.67 8.26 610 Israel TMT US88166JAA16 14'292'243 2000 / 1000 A- A3 USD 3.650 S Teva Pharm Fin Iv Bv 10.11.21 6.9 99.38 3.74 127 Israel Consumer US46513AGA25 14'839'027 200000 / 1000 A+ A1 USD 4.000 S State Of Israel 30.06.22 7.4 102.69 3.64 106 Israel Government US46507NAE04 21'687'786 200000 / 1000 BB+ Baa3 USD 6.875 S Israel Electric Corp Ltd 21.06.23 7.0 102.68 6.50 374 Israel Utilities US4651387M19 20'579'576 200000 / 1000 A+ A1 USD 3.150 S State Of Israel 30.06.23 8.3 94.29 3.85 109 Israel Government US4651387N91 20'579'578 200000 / 1000 A+ A1 USD 4.500 S State Of Israel 30.01.43 15.2 87.19 5.37 170 Israel Government

XS0557127353 12'003'819 200000 / 1000 BB- B1 USD 3.875 S Kingdom Of Jordan 12.11.15 2.1 99.56 4.08 361 Jordania Government

XS0282585859 2'886'205 100000 / 1000 B2 USD 8.625 S Bccrd 30.01.14 0.4 102.69 1.89 184 Kazakhstan Financial XS0190240324 1'831'164 10000 / 1000 B+ Caa1 USD 7.875 S Kazkommerts Bank 07.04.14 0.6 101.42 5.39 532 Kazakhstan Financial XS0510820011 11'324'689 100000 / 1000 Baa3 USD 6.250 S Kazatomprom 20.05.15 1.6 105.66 2.83 251 Kazakhstan Basic Materials XS0234488236 2'322'567 100000 / 1000 B+ Caa1 USD 8.000 S Kazkommerts Bank 03.11.15 1.9 100.69 7.64 717 Kazakhstan Financial XS0253723281 2'552'848 100000 / 1000 NR Caa1 USD 9.000 S Atf Bank 11.05.16 2.3 99.08 9.38 871 Kazakhstan Financial XS0276707923 2'802'243 100000 / 1000 B+ Caa1 USD 7.500 S Kazkommerts Bank 29.11.16 2.8 98.10 8.17 727 Kazakhstan Financial XS0298931287 3'078'061 100000 / 1000 BB Ba3 USD 7.250 S Halyk Savings Bank-Kazak 03.05.17 3.1 106.38 5.31 423 Kazakhstan Financial USN45748AB15 3'091'919 100000 / 1000 BB+ Baa3 USD 6.375 S Intergas Finance Bv 14.05.17 3.2 108.83 3.79 269 Kazakhstan Energy XS0868359166 20'277'439 200000 / 1000 BB+ USD 3.750 S Samruk-Energy Jsc 20.12.17 3.9 98.78 4.06 271 Kazakhstan Utilities XS0546214007 11'829'762 200000 / 1000 BBB- Baa3 USD 6.375 S Kazakhstan Temir Zholy 06.10.20 5.6 105.93 5.36 309 Kazakhstan Transportation XS0556885753 11'984'638 200000 / 1000 BBB- Baa3 USD 6.375 S Kazmunaygas National Co 09.04.21 5.9 105.56 5.47 311 Kazakhstan Energy XS0925015074 21'268'117 200000 / 1000 BBB- Baa3 USD 4.400 S Kazmunaygas National Co 30.04.23 7.5 89.68 5.81 308 Kazakhstan Energy XS0934609016 21'453'599 200000 / 1000 BBB+ USD 4.625 S Kazagro Natl Mgmt Hldng 24.05.23 7.5 88.13 6.27 353 Kazakhstan Industrial XS0925015157 21'268'119 200000 / 1000 BBB- Baa3 USD 5.750 S Kazmunaygas National Co 30.04.43 12.4 82.11 7.22 353 Kazakhstan Energy

US50064FAH73 10'112'968 100000 / 1000 A+ Aa3 USD 5.750 S Republic Of Korea 16.04.14 0.6 103.17 0.58 51 Korea Government USY3994MAN66 10'126'622 100000 / 1000 A+ Aa3 USD 7.125 S Industrial Bank Of Korea 23.04.14 0.6 103.88 0.96 89 Korea Financial USY4899GAF01 10'270'420 100000 / 1000 A+ A1 USD 6.250 S Korea Hydro & Nuclear Po 17.06.14 0.8 103.94 1.17 108 Korea Utilities USY48861BG52 10'359'709 100000 / 1000 A+ A1 USD 6.000 S Korea Gas Corp 15.07.14 0.8 104.22 1.07 97 Korea Energy US50065GAA94 10'369'030 100000 / 1000 A+ A1 USD 5.500 S Korea Electric Power 21.07.14 0.9 103.80 1.13 103 Korea Utilities US50064FAD69 1'954'945 2000 / 1000 A+ Aa3 USD 4.875 S Republic Of Korea 22.09.14 1.0 104.47 0.59 45 Korea Government US63243MAA45 10'600'320 100000 / 1000 A A1 USD 5.000 S National Agricultural Co 30.09.14 1.0 104.18 1.06 92 Korea Financial US302154AU32 10'344'806 100000 / 1000 A+ Aa3 USD 5.875 S Export-Import Bk Korea 14.01.15 1.3 106.30 1.19 96 Korea Financial US98105GAE26 10'399'822 100000 / 1000 A- A1 USD 7.000 S Woori Bank 02.02.15 1.4 107.68 1.47 123 Korea Financial USX3458MAA46 11'222'738 100000 / 1000 BBB+ Baa1 USD 4.500 S Hyundai Motor Manufactur 15.04.15 1.5 104.79 1.48 119 Korea Automaker USY3815NAB74 10'704'329 100000 / 1000 BBB+ Baa1 USD 6.000 S Hyundai Capital Services 05.05.15 1.6 107.16 1.62 132 Korea Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0507821584 11'323'912 100000 / 1000 A+ A1 USD 4.125 S Korea Resources Corp 19.05.15 1.6 104.31 1.56 124 Korea Energy US48268FAB85 2'220'032 100000 / 1000 A- A3 USD 4.875 S Korean Telecom 15.07.15 1.8 106.46 1.35 98 Korea TMT XS0483222989 10'990'687 100000 / 1000 A+ Aa3 USD 4.375 S Industrial Bank Of Korea 04.08.15 1.8 105.85 1.27 89 Korea Financial US500630BR88 11'001'699 100000 / 1000 A Aa3 USD 4.375 S Korea Development Bank 10.08.15 1.9 105.95 1.25 86 Korea Financial US302154AV15 11'093'106 100000 / 1000 A+ Aa3 USD 4.125 S Export-Import Bk Korea 09.09.15 1.9 105.60 1.30 89 Korea Financial US82460EAA82 11'117'542 100000 / 1000 A A1 USD 4.375 S Shinhan Bank 15.09.15 1.9 105.73 1.50 108 Korea Financial USY4899GAQ65 11'748'023 100000 / 1000 A+ A1 USD 3.125 S Korea Hydro & Nuclear Po 16.09.15 1.9 103.30 1.47 105 Korea Utilities XS0833297186 19'625'074 200000 / 1000 A- A1 USD 1.750 S Korea Exchange Bank 27.09.15 2.0 100.14 1.68 125 Korea Financial USU44886AC06 19'650'341 2000 / 1000 BBB+ Baa1 USD 1.625 S Hyundai Capital America 02.10.15 2.0 100.31 1.47 104 Korea Financial US50065GAB77 11'817'474 100000 / 1000 A+ A1 USD 3.000 S Korea Electric Power 05.10.15 2.0 103.30 1.39 95 Korea Utilities US45604HAB33 19'684'996 200000 / 1000 Aa3 USD 1.375 S Industrial Bank Of Korea 05.10.15 2.0 100.14 1.31 87 Korea Financial US98105GAF90 11'183'462 100000 / 1000 A- A1 USD 4.500 S Woori Bank 07.10.15 2.0 105.85 1.64 120 Korea Financial US40963MAB81 11'261'532 100000 / 1000 A A1 USD 4.500 S Hana Bank 30.10.15 2.0 105.93 1.68 122 Korea Financial XS0525717582 11'519'039 100000 / 1000 A- A1 USD 4.875 S Korea Exchange Bank 14.01.16 2.2 107.08 1.80 125 Korea Financial US98105GAG73 11'535'741 100000 / 1000 A- A1 USD 4.750 S Woori Bank 20.01.16 2.2 107.30 1.61 105 Korea Financial US63243MAB28 11'565'117 100000 / 1000 A A1 USD 4.250 S National Agricultural Co 28.01.16 2.3 105.96 1.70 114 Korea Financial US40963MAF95 20'590'572 200000 / 1000 A A1 USD 1.375 S Hana Bank 05.02.16 2.4 99.26 1.69 112 Korea Financial US500630BS61 11'717'512 100000 / 1000 A Aa3 USD 3.250 S Korea Development Bank 09.03.16 2.4 103.96 1.63 103 Korea Financial USY49352AE00 2'481'602 100000 / 1000 A+ A1 USD 5.500 S Korea Midland Power Co 14.03.16 2.3 108.54 2.01 140 Korea Utilities USY38168AA19 11'826'867 100000 / 1000 BBB+ Baa1 USD 3.750 S Hyundai Capital America 06.04.16 2.4 104.76 1.86 122 Korea Financial XS0611897694 12'816'783 200000 / 1000 Baa1 USD 3.875 S Lotte Shopping Co Ltd 07.04.16 2.4 104.26 2.17 154 Korea Consumer USY38383AJ76 12'888'566 200000 / 1000 BBB- Baa3 USD 4.625 S Hyundai Steel Co 21.04.16 2.4 105.19 2.57 192 Korea Basic Materials XS0252544902 2'541'575 100000 / 1000 A- A3 USD 5.875 S Korean Telecom 03.05.16 2.4 110.50 1.81 115 Korea TMT USY47606AC59 13'169'940 200000 / 1000 BBB+ Baa1 USD 3.625 S  Kia Motors Corporation 14.06.16 2.6 104.73 1.87 115 Korea Automaker USY3815NAG61 12'383'692 200000 / 1000 BBB+ Baa1 USD 4.375 S Hyundai Capital Services 27.07.16 2.7 106.89 1.92 116 Korea Financial US500630BT45 12'627'555 200000 / 1000 A Aa3 USD 4.000 S Korea Development Bank 09.09.16 2.8 106.45 1.79 98 Korea Financial US50065TAB98 11'765'049 100000 / 1000 A+ Aa3 USD 3.250 S Korea Finance Corp 20.09.16 2.9 104.32 1.78 96 Korea Financial USY77488AB35 12'784'674 200000 / 1000 A A1 USD 4.125 S Shinhan Bank 04.10.16 2.9 106.86 1.83 99 Korea Financial US302154AY53 12'881'829 200000 / 1000 A+ Aa3 USD 3.750 S Export-Import Bk Korea 20.10.16 2.9 106.26 1.68 83 Korea Financial US50065XAB01 14'152'527 200000 / 1000 A+ A1 USD 4.000 S Korea National Oil Corp 27.10.16 2.9 106.50 1.86 100 Korea Energy US40963MAC64 12'940'992 200000 / 1000 A A1 USD 4.000 S Hana Bank 03.11.16 2.9 106.12 1.99 112 Korea Financial XS0706631982 14'353'678 200000 / 1000 A USD 4.500 S Doosan Infracore Co Ltd 23.11.16 3.0 106.94 2.25 136 Korea Industrial US302154BD08 14'678'352 200000 / 1000 A+ Aa3 USD 4.000 S Export-Import Bk Korea 11.01.17 3.1 105.55 2.27 132 Korea Financial XS0648400702 13'346'564 200000 / 1000 A A1 USD 3.625 S Kookmin Bank 14.01.17 3.1 103.70 2.47 151 Korea Financial XS0734490906 14'788'745 200000 / 1000 A- USD 3.875 S  Kt Corp 20.01.17 3.1 104.62 2.44 148 Korea TMT XS0653886183 13'436'214 200000 / 1000 A+ A1 USD 3.625 S Korea South-East Power 29.01.17 3.2 103.17 2.64 167 Korea Utilities US63243MAC01 13'498'289 200000 / 1000 A A1 USD 3.500 S National Agricultural Co 08.02.17 3.2 102.94 2.60 161 Korea Financial XS0743690140 14'928'330 200000 / 1000 A2 USD 4.125 S Busan Bank 09.02.17 3.2 104.61 2.71 172 Korea Financial US50065XAC83 18'297'053 200000 / 1000 A+ A1 USD 3.125 S Korea National Oil Corp 03.04.17 3.3 102.19 2.48 143 Korea Energy USU7963ZAE98 18'344'671 200000 / 1000 A+ A1 USD 1.750 S Samsung Electron America 10.04.17 3.4 99.80 1.81 75 Korea Industrial XS0778826346 18'488'615 200000 / 1000 A- A2 USD 3.500 S National Federation Fish 03.05.17 3.4 102.87 2.67 159 Korea Financial US500630BU18 14'220'138 200000 / 1000 A Aa3 USD 3.875 S Korea Development Bank 04.05.17 3.4 105.05 2.43 134 Korea Financial USY5346TAG68 18'531'896 200000 / 1000 Baa1 USD 3.375 S Lotte Shopping Co Ltd 09.05.17 3.4 102.36 2.70 161 Korea Consumer US50066EAA38 18'546'344 200000 / 1000 A+ A1 USD 3.125 S Korea Western Power Co 10.05.17 3.4 101.52 2.69 160 Korea Utilities USU44886AA40 14'465'565 200000 / 1000 BBB+ Baa1 USD 4.000 S Hyundai Capital America 08.06.17 3.5 104.73 2.67 154 Korea Financial US40963MAD48 14'506'324 200000 / 1000 A A1 USD 4.250 S Hana Bank 14.06.17 3.5 105.45 2.72 159 Korea Financial USY48585BD76 18'864'036 200000 / 1000 A- A1 USD 3.125 S Korea Exchange Bank 26.06.17 3.6 101.91 2.59 145 Korea Financial USY4836TAG68 19'009'206 200000 / 1000 A+ A1 USD 2.500 S Korea East-West Power Co 16.07.17 3.6 99.30 2.69 153 Korea Utilities US45604HAA59 19'027'030 200000 / 1000 A+ Aa3 USD 2.375 S Industrial Bank Of Korea 17.07.17 3.7 99.35 2.55 138 Korea Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US50066CAE93 19'088'841 200000 / 1000 A+ A1 USD 2.250 S Korea Gas Corp 25.07.17 3.7 98.78 2.58 140 Korea Energy US50065TAD54 19'183'674 200000 / 1000 A+ Aa3 USD 2.250 S Korea Finance Corp 07.08.17 3.7 99.09 2.49 130 Korea Financial US500630BW73 18'004'772 200000 / 1000 A Aa3 USD 3.500 S Korea Development Bank 22.08.17 3.7 103.73 2.50 130 Korea Financial USY3815NAT82 18'137'464 200000 / 1000 BBB+ Baa1 USD 3.500 S Hyundai Capital Services 13.09.17 3.7 103.06 2.69 146 Korea Financial USU44886AB23 19'650'335 2000 / 1000 BBB+ Baa1 USD 2.125 S Hyundai Capital America 02.10.17 3.8 98.24 2.58 133 Korea Financial USY4872AAX55 19'837'844 200000 / 1000 A+ A1 USD 1.875 S Korea Expressway Corp 22.10.17 3.9 96.90 2.67 139 Korea Consumer US40963MAE21 18'441'526 200000 / 1000 A A1 USD 3.500 S Hana Bank 25.10.17 3.8 102.88 2.76 148 Korea Financial USY4935NAL83 19'903'139 200000 / 1000 A- A3 USD 2.125 S Sk Telecom Co Ltd 01.05.18 4.4 97.01 2.81 131 Korea TMT USC42970AC47 21'358'604 200000 / 1000 A+ A1 USD 2.125 S Harvest Operations Corp 14.05.18 4.4 96.22 2.99 148 Korea Energy US50066CAF68 21'966'341 200000 / 1000 A+ A1 USD 2.875 S Korea Gas Corp 29.07.18 4.5 99.13 3.07 146 Korea Energy XS0940691578 22'089'350 200000 / 1000 BBB Baa2 USD 3.625 S Sk Innovation Co Ltd 14.08.18 4.5 100.87 3.43 181 Korea Energy US50065TAE38 22'154'080 200000 / 1000 A+ Aa3 USD 2.875 S Korea Finance Corp 22.08.18 4.6 99.50 2.98 135 Korea Financial US302154AW97 11'462'747 100000 / 1000 A+ Aa3 USD 5.125 S Export-Import Bk Korea 29.06.20 5.7 108.60 3.69 149 Korea Financial USY70750AN78 11'928'502 100000 / 1000 BBB+ Baa1 USD 4.250 S Posco 28.10.20 6.0 101.30 4.04 176 Korea Basic Materials US50066CAA71 11'949'089 100000 / 1000 A+ A1 USD 4.250 S Korea Gas Corp 02.11.20 6.1 103.89 3.63 135 Korea Energy US98105HAB69 12'843'622 200000 / 1000 BBB+ A2 USD 5.875 S Woori Bank 13.04.21 6.1 110.20 4.29 193 Korea Financial USY70750AR82 12'852'803 200000 / 1000 BBB+ Baa1 USD 5.250 S Posco 14.04.21 6.2 107.53 4.09 172 Korea Basic Materials USY4899GAS22 13'335'649 200000 / 1000 A+ A1 USD 4.750 S Korea Hydro & Nuclear Po 13.07.21 6.5 104.75 4.04 163 Korea Utilities US302154BA68 13'831'122 200000 / 1000 A+ Aa3 USD 4.375 S Export-Import Bk Korea 15.09.21 6.6 103.73 3.83 139 Korea Financial US50065TAC71 14'298'145 200000 / 1000 A+ Aa3 USD 4.625 S Korea Finance Corp 16.11.21 6.7 105.18 3.88 141 Korea Financial US302154BC25 14'678'370 200000 / 1000 A+ Aa3 USD 5.000 S Export-Import Bk Korea 11.04.22 6.9 108.35 3.85 131 Korea Financial US500630BX56 19'440'974 200000 / 1000 A Aa3 USD 3.000 S Korea Development Bank 14.09.22 7.7 93.55 3.85 123 Korea Financial

XS0457137841 10'641'050 100000 / 1000 BBB- Baa3 USD 8.875 S Kuwait Projects Co 17.10.16 2.7 116.13 3.38 252 Kuwait Industrial XS0859236092 20'093'622 200000 / 1000 Baa2 USD 3.250 S Gic Funding Limited 28.11.17 3.9 98.56 3.62 230 Kuwait Financial XS0545106592 11'796'729 100000 / 1000 BBB Ba1 USD 7.875 S Burgan Finance No.1 Ltd 29.09.20 5.3 108.50 6.36 410 Kuwait Financial

XS0747927746 14'999'024 200000 / 1000 BBB+ Baa2 USD 5.250 S Republic Of Latvia 22.02.17 3.2 108.20 2.75 175 Latvia Government XS0638326263 13'185'691 200000 / 1000 BBB+ Baa2 USD 5.250 S Republic Of Latvia 16.06.21 6.3 106.56 4.25 186 Latvia Government

XS0471737105 10'793'908 1000 B NR USD 5.875 S Lebanese Republic 15.01.15 1.3 102.88 3.69 346 Lebanon Government XS0559237952 12'005'284 1000 B NR USD 5.150 S Lebanese Republic 12.11.18 4.4 97.63 5.68 398 Lebanon Government XS0629509943 13'059'059 1000 B NR USD 6.000 S Lebanese Republic 20.05.19 4.7 99.63 6.08 422 Lebanon Government XS0493540297 11'104'135 1000 B NR USD 6.375 S Lebanese Republic 09.03.20 5.1 100.13 6.35 425 Lebanon Government XS0559237796 12'005'111 1000 B NR USD 6.100 S Lebanese Republic 04.10.22 6.7 96.92 6.55 393 Lebanon Government XS0471737444 10'793'836 1000 B NR USD 7.000 S Lebanese Republic 03.12.24 7.6 102.13 6.73 388 Lebanon Government

XS0457764339 10'645'595 100000 / 1000 BBB Baa1 USD 6.750 S Republic Of Lithuania 15.01.15 1.3 106.72 1.73 150 Lithuania Government XS0541528682 11'737'520 100000 / 1000 BBB Baa1 USD 5.125 S Republic Of Lithuania 14.09.17 3.6 107.98 3.00 177 Lithuania Government XS0485991417 11'007'013 100000 / 1000 BBB Baa1 USD 7.375 S Republic Of Lithuania 11.02.20 5.2 118.69 4.05 196 Lithuania Government XS0602546136 12'628'224 100000 / 1000 BBB Baa1 USD 6.125 S Republic Of Lithuania 09.03.21 5.9 111.54 4.31 196 Lithuania Government XS0739988086 14'861'166 200000 / 1000 BBB Baa1 USD 6.625 S Republic Of Lithuania 01.02.22 6.5 114.66 4.51 200 Lithuania Government

USY60808AB18 1'894'562 100000 / 1000 BBB Baa2 USD 6.125 S Misc Capital Ltd 01.07.14 0.8 103.61 1.68 159 Malaysia Transportation XS0200561180 1'953'365 100000 / 1000 BBB+ Baa1 USD 5.375 S Prime Holdings Labuan 22.09.14 1.0 103.98 1.53 139 Malaysia Consumer XS0212370869 2'092'810 1000 BBB Baa2 USD 5.250 S Ioi Ventures 16.03.15 1.4 105.07 1.87 160 Malaysia Industrial XS0726900953 14'941'220 200000 / 1000 A- USD 3.000 S Malayan Banking Bhd 10.02.17 3.2 101.18 2.64 165 Malaysia Financial XS0793277277 18'794'747 200000 / 1000 A3 USD 2.875 S Export-Import Bank Of Ma 14.12.17 4.0 100.67 2.71 137 Malaysia Financial USY68856AH99 10'441'634 100000 / 1000 A- A1 USD 5.250 S Petronas Capital Ltd 12.08.19 5.1 108.14 3.71 178 Malaysia Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0504981746 11'249'679 100000 / 1000 BBB- Baa2 USD 5.375 S Axiata Spv1 Labuan Ltd 28.04.20 5.5 105.56 4.40 225 Malaysia TMT XS0792911298 18'879'120 200000 / 1000 BBB Baa2 USD 4.375 S Ioi Investment L Bhd 27.06.22 7.1 92.82 5.41 283 Malaysia Consumer XS0828755495 19'688'536 200000 / 1000 A- A3 USD 4.250 S Ssg Resources Ltd 04.10.22 7.2 93.45 5.16 253 Malaysia Financial

USP49802AA24 10'461'896 100000 / 1000 BBB- USD 9.500 S Petrotemex Sa De Cv 19.08.14 0.9 108.00 1.06 95 Mexico Basic Materials US879403AS24 2'226'500 100000 / 1000 A- A2 USD 5.500 S Telefonos De Mexico Sab 27.01.15 1.3 106.07 1.10 87 Mexico TMT USP14008AA79 11'539'247 100000 / 1000 BBB- A3 USD 4.375 S Banco Mercantil Del Nort 19.07.15 1.8 104.93 1.69 132 Mexico Financial USP16259AA47 12'636'669 150000 / 1000 A2 USD 4.500 S Bbva Bancomer Sa Texas 10.03.16 2.3 105.91 2.08 147 Mexico Financial US02364WBC82 13'765'340 200000 / 1000 A- A2 USD 2.375 S America Movil Sab De Cv 08.09.16 2.9 101.91 1.72 91 Mexico TMT USU12763AA37 10'820'989 100000 / 1000 B USD 9.500 S Cemex Finance Llc 14.12.16 0.3 106.63 7.19 244 Mexico Industrial USP06064AA01 2'909'756 2000 / 1000 NR Caa2 USD 7.625 S Axtel Sab De Cv 01.02.17 2.8 86.63 12.57 1159 Mexico TMT US02364WAN56 3'513'007 2000 / 1000 A- A2 USD 5.625 S America Movil Sab De Cv 15.11.17 3.7 113.34 2.27 96 Mexico Tmt USP2253THR34 12'273'621 100000 / 1000 B USD 9.000 S Cemex Sab De Cv 11.01.18 2.1 107.00 7.10 608 Mexico Industrial US706451BS94 4'951'090 10000 / 1000 BBB Baa1 USD 5.750 S Pemex Proj Fdg Master Tr 01.03.18 4.0 110.95 3.12 169 Mexico Energy USP8674JAC38 12'852'751 150000 / 1000 BBB- Baa3 USD 5.625 S Sigma Alimentos Sa 14.04.18 4.0 110.08 3.25 177 Mexico Consumer US40049JAX54 4'419'731 100000 / 1000 BBB+ Baa1 USD 6.000 S Grupo Televisa Sab 15.05.18 4.1 112.62 3.09 157 Mexico Tmt XS0630959152 13'075'693 200000 / 1000 USD 7.500 S Tv Azteca Sab De Cv 25.05.18 1.6 107.00 5.78 497 Mexico TMT US71656MAS89 21'900'082 10000 / 1000 BBB Baa1 USD 3.500 S Petroleos Mexicanos 18.07.18 4.4 101.25 3.22 163 Mexico Energy XS0655700762 13'484'104 100000 / 1000 USD 7.250 S Grupo Elektra Sab De Cv 06.08.18 3.4 103.75 6.35 497 Mexico Consumer USP2253TJC47 20'968'581 200000 / 1000 B USD 5.875 S Cemex Sab De Cv 25.03.19 4.5 96.33 6.67 486 Mexico Industrial USP06064AB83 10'584'854 2000 / 1000 NR Caa2 USD 9.000 S Axtel Sab De Cv 22.09.19 4.1 76.81 14.96 1299 Mexico TMT USP0280ADQ15 10'658'717 100000 / 1000 A- A2 USD 5.000 S America Movil Sab De Cv 16.10.19 5.2 108.16 3.50 152 Mexico TMT USP3100SAA26 10'683'773 100000 / 1000 BB+ USD 7.875 S Controladora Mabe Sa Cv 28.10.19 4.8 111.68 5.60 361 Mexico Consumer USP9048DEC94 10'726'135 100000 / 1000 A- A2 USD 5.500 S Telefonos De Mexico Sab 15.11.19 5.2 113.48 3.09 108 Mexico TMT USP2253TJD20 22'072'420 200000 / 1000 B USD 6.500 S  Cemex Sab De Cv 10.12.19 5.0 98.46 6.81 478 Mexico Industrial USP35053AA86 10'817'683 2000 / 1000 NR C USD 9.500 S Desarrolladora Homex Sa 11.12.19 2.9 24.13 46.42 4439 Mexico Industrial US91086QAY44 10'910'915 2000 BBB Baa1 USD 5.125 S United Mexican States 15.01.20 5.4 110.21 3.33 127 Mexico Government US64109TAD46 11'927'349 100000 / 1000 BBB+ Baa3 USD 7.500 S Net Servicos De Comunica 27.01.20 1.3 108.50 5.88 359 Mexico TMT US71656MAC38 10'977'261 10000 / 1000 BBB Baa1 USD 6.000 S Petroleos Mexicanos 05.03.20 5.4 111.00 4.06 196 Mexico Energy USP0280ADW82 11'169'404 100000 / 1000 A- A2 USD 5.000 S America Movil Sab De Cv 30.03.20 5.6 117.23 2.17 5 Mexico TMT US84265VAD73 11'225'209 2000 / 1000 BBB Baa2 USD 5.375 S Southern Copper Corp 16.04.20 5.5 106.62 4.22 208 Mexico Basic Materials USP7700WCG35 21'497'120 2000 / 1000 B USD 7.250 S C  Grupo Famsa Sa De Cv 01.06.20 5.2 99.38 7.37 519 Mexico Consumer USP4949BAG97 11'474'620 100000 / 1000 Baa2 USD 4.875 S Grupo Bimbo Sab De Cv 30.06.20 5.7 104.86 4.05 185 Mexico Consumer US71656MAD11 11'535'465 10000 / 1000 BBB Baa1 USD 5.500 S Petroleos Mexicanos 21.01.21 6.1 109.50 4.00 168 Mexico Energy USP37149AN42 12'438'981 2000 / 1000 B B2 USD 8.900 S Empresas Ica Sociedad 04.02.21 5.2 95.06 9.85 752 Mexico Industrial USP16259AB20 12'636'668 150000 / 1000 Baa2 USD 6.500 S Bbva Bancomer Sa Texas 10.03.21 5.7 103.40 5.93 359 Mexico Financial USP30179AJ79 13'077'218 200000 / 1000 BBB Baa1 USD 4.875 S Comision Fed De Electric 26.05.21 6.3 102.88 4.43 205 Mexico Utilities US71656MAL37 14'789'163 10000 / 1000 BBB Baa1 USD 4.875 S Petroleos Mexicanos 24.01.22 6.8 101.00 4.73 222 Mexico Energy USP4949BAH70 14'715'301 100000 / 1000 Baa2 USD 4.500 S Grupo Bimbo Sab De Cv 25.01.22 6.9 100.82 4.38 188 Mexico Consumer US91086QBA58 14'669'685 2000 BBB Baa1 USD 3.625 S United Mexican States 15.03.22 7.1 98.01 3.90 137 Mexico Government USP3142CDD85 18'238'856 200000 / 1000 D Ca USD 8.875 S Corporacion Geo Sa De Cv 27.03.22 2.1 20.00 48.96 4643 Mexico Industrial US02364WBD65 19'009'210 200000 / 1000 A- A2 USD 3.125 S America Movil Sab De Cv 16.07.22 7.6 91.21 4.33 174 Mexico TMT USP57908AD01 19'520'292 200000 / 1000 BBB- Ba1 USD 4.875 S Mexichem Sab De Cv 19.09.22 7.0 95.69 5.49 286 Mexico Basic Materials US84265VAF22 19'976'590 2000 / 1000 BBB Baa2 USD 3.500 S Southern Copper Corp 08.11.22 7.6 89.62 4.92 227 Mexico Basic Materials USP1507SAC19 19'985'582 150000 / 1000 BBB USD 4.125 S Banco Santander Sa 09.11.22 7.4 91.94 5.24 260 Mexico Financial USP01703AA82 20'053'576 200000 / 1000 BBB- Baa3 USD 4.500 S Alpek Sa De Cv 20.11.22 7.3 93.22 5.44 279 Mexico Basic Materials USP9084BAD03 20'787'207 200000 / 1000 BB- Ba2 USD 5.500 S  Tenedora Nemak Sa 28.02.23 7.2 96.63 5.97 327 Mexico Industrial USP6638MAA91 21'212'891 150000 / 1000 BB+ USD 4.900 S Metalsa Sa De Cv 24.04.23 7.4 95.25 5.54 281 Mexico Automaker US344419AA47 21'358'909 150000 / 2000 BBB+ USD 2.875 S Fomento Economico Mex 10.05.23 8.2 89.21 4.25 151 Mexico Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USP01703AB65 22'072'384 200000 / 1000 BBB- Baa3 USD 5.375 S Alpek Sa De Cv 08.08.23 7.6 98.09 5.63 285 Mexico Basic Materials US71656MAQ24 21'892'853 10000 / 1000 BBB Baa1 USD 4.875 S Petroleos Mexicanos 18.01.24 8.0 99.08 4.99 219 Mexico Energy USP4987VAS27 10'781'822 2000 / 1000 BBB+ Baa1 USD 6.625 S Grupo Televisa Sab 15.01.40 12.8 108.14 6.01 247 Mexico TMT US02364WBE49 19'009'563 200000 / 1000 A- A2 USD 4.375 S America Movil Sab De Cv 16.07.42 14.8 82.10 5.64 199 Mexico TMT US84265VAG05 19'976'583 2000 / 1000 BBB Baa2 USD 5.250 S Southern Copper Corp 08.11.42 12.9 79.37 6.90 324 Mexico Basic Materials US344419AB20 21'358'913 150000 / 2000 BBB+ USD 4.375 S Fomento Economico Mex 10.05.43 15.1 84.57 5.43 174 Mexico Consumer

XS0831336192 19'535'900 200000 / 1000 B1 USD 8.500 S Trad & Dev Bank Mongolia 20.09.15 1.7 95.97 10.74 1032 Mongolia Financial XS0755567301 18'193'900 200000 / 1000 BB- B1 USD 5.750 S Devt Bank Of Mongolia 21.03.17 3.0 91.75 8.49 746 Mongolia Sovereign-linked Entity US60937GAA40 20'137'014 200000 / 1000 BB- B1 USD 4.125 S Mongolia Intl Bond 05.01.18 3.8 91.25 6.47 510 Mongolia Government

XS0850020586 20'197'889 200000 / 1000 BBB- USD 4.250 S Kingdom Of Morocco 11.12.22 7.3 86.94 6.12 345 Morocco Government

XS0584435142 12'394'372 200000 / 1000 BB- USD 6.750 S Republic Of Nigeria 28.01.21 5.8 106.81 5.61 329 Nigeria Government

XS0908549685 20'996'302 200000 / 1000 A- A1 USD 2.500 S Bank Muscat Saog 26.03.18 4.2 98.03 2.96 151 Oman Financial

USY8793YAK83 2'502'485 100000 / 1000 B- Caa1 USD 7.125 S Islamic Rep Of Pakistan 31.03.16 2.2 97.67 8.14 751 Pakistan Government USY8793YAM40 3'135'787 100000 / 1000 B- Caa1 USD 6.875 S Islamic Rep Of Pakistan 01.06.17 3.2 96.17 8.08 696 Pakistan Government USY8793YAL66 2'501'176 100000 / 1000 B- Caa1 USD 7.875 S Islamic Rep Of Pakistan 31.03.36 9.0 81.92 9.89 653 Pakistan Government

US698299AX28 10'749'334 100000 / 1000 BBB Baa2 USD 5.200 S Republic Of Panama 30.01.20 5.5 109.55 3.52 145 Panama Government

US219868BP07 11'520'210 1000 AA- Aa3 USD 3.750 S Corp Andina De Fomento 15.01.16 2.3 105.23 1.49 94 Peru Sovereign-linked Entity USP09645AG07 12'687'215 10000 / 1000 BBB+ Baa2 USD 4.750 S Banco De Credito Del Per 16.03.16 2.3 105.40 2.53 192 Peru Financial USR15893AA96 10'999'081 100000 / 1000 B+ B2 USD 9.000 S Corp Pesquera Inca Sac 10.02.17 2.1 101.50 8.48 772 Peru Consumer USP16236AF16 21'087'907 10000 / 1000 BBB+ USD 3.250 S Bbva Banco Continental 08.04.18 4.2 97.67 3.81 233 Peru Financial USP09646AC75 11'748'147 10000 / 1000 BBB+ Baa2 USD 5.375 S Banco De Credito Del Per 16.09.20 5.7 102.23 4.99 274 Peru Financial USP1342SAC00 11'835'344 100000 / 1000 Baa3 USD 5.750 S Banco Internac Del Peru 07.10.20 5.6 101.80 5.44 317 Peru Financial USP98047AA42 14'871'843 2000 / 1000 BBB- Baa3 USD 5.375 S Volcan Cia Minera Saa-Cm 02.02.22 6.6 95.88 6.01 350 Peru Basic Materials USP31389AY82 14'917'712 200000 / 1000 BBB+ USD 4.750 S Corp Financi De Desarrol 08.02.22 6.8 97.09 5.18 267 Peru Financial US219868BS46 18'794'737 1000 AA- Aa3 USD 4.375 S Corp Andina De Fomento 15.06.22 7.2 100.90 4.25 168 Peru Sovereign-linked Entity USP16260AA28 19'356'130 10000 / 1000 BBB+ USD 5.000 S Bbva Banco Continental 26.08.22 7.1 94.97 5.72 311 Peru Financial USP2194PAA77 20'631'577 100000 / 1000 BB+ USD 4.500 S Cementos Pacasmayo Saa 08.02.23 7.4 88.81 6.08 338 Peru Industrial USP9367RAG67 21'256'290 200000 / 1000 BBB Baa2 USD 4.250 S Transport De Gas Peru 30.04.28 10.4 89.50 5.29 229 Peru Energy

XS0550961477 11'897'959 100000 / 1000 NR Ba1 USD 3.875 S Bdo Unibank Inc 22.04.16 2.5 101.95 3.10 244 Philippines Financial XS0843919480 19'803'201 200000 / 1000 USD 4.250 S Sm Investments Corp 17.10.19 5.2 96.38 4.94 296 Philippines Consumer XS0592233729 12'731'432 200000 / 1000 BBB- USD 5.500 S Dev Bank Philippines 25.03.21 6.0 105.60 4.61 226 Philippines Financial XS0876086975 20'488'387 200000 / 1000 USD 4.375 S Jgsh Philippines Ltd 23.01.23 7.5 94.87 5.07 238 Philippines Consumer XS0921226386 21'226'583 200000 / 1000 USD 4.875 S San Miguel Corp 26.04.23 7.1 80.66 7.76 503 Philippines Industrial US718286BD89 2'870'859 100000 / 1000 BBB- Ba1 USD 6.375 S Republic Of Philippines 15.01.32 11.1 112.63 5.29 212 Philippines Government US718286BW60 14'678'517 200000 / 1000 BBB- Ba1 USD 5.000 S Republic Of Philippines 13.01.37 13.8 104.25 4.70 130 Philippines Government

XS0783934085 19'620'485 200000 / 1000 A- A2 USD 4.630 S Pko Fin Ab (Pko Bank Pl) 26.09.22 7.1 95.20 5.30 268 Poland Financial US731011AT95 19'495'874 1000 A- A2 USD 3.000 S Republic Of Poland 17.03.23 8.0 89.29 4.39 168 Poland Government

XS0422945518 10'099'202 100000 / 1000 AA Aa2 USD 5.150 S State Of Qatar 09.04.14 0.6 102.80 0.43 36 Qatar Government XS0432791498 10'249'928 100000 / 1000 A A2 USD 6.500 S Qtel International Fin 10.06.14 0.7 104.44 0.67 58 Qatar TMT

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USM8222MAF97 10'380'038 250000 / 1000 A Aa3 USD 5.500 S Ras Laffan Lng 3 30.09.14 1.0 104.71 1.06 91 Qatar Energy XS0466365110 10'737'025 100000 / 1000 A- A1 USD 5.000 S Cbq Finance Ltd 18.11.14 1.2 104.72 1.04 86 Qatar Financial XS0468466486 10'751'932 100000 / 1000 AA Aa2 USD 4.000 S State Of Qatar 20.01.15 1.3 104.14 0.96 74 Qatar Government XS0527351570 11'541'569 100000 / 1000 AA Aa2 USD 3.500 S Qatari Diar Finance Qsc 21.07.15 1.8 104.14 1.26 90 Qatar Real Estate XS0549116290 11'861'656 200000 / 1000 A A2 USD 3.375 S Qtel International Fin 14.10.16 2.9 104.31 1.94 109 Qatar TMT XS0615235537 1'444'552 200000 / 1000 AA Aa2 USD 3.125 S State Of Qatar 20.01.17 3.2 104.13 1.86 89 Qatar Government XS0748305017 18'005'081 200000 / 1000 A+ Aa3 USD 3.375 S Qnb Finance Ltd 22.02.17 3.3 103.13 2.43 143 Qatar Financial XS0757032445 18'146'900 200000 / 1000 A- A2 USD 3.500 S Doha Finance Limited 14.03.17 3.3 103.31 2.51 149 Qatar Financial XS0771860003 18'352'962 200000 / 1000 A- A1 USD 3.375 S Cbq Finance Ltd 11.04.17 3.3 103.00 2.50 144 Qatar Financial XS0854469599 19'997'624 200000 / 1000 A+ Aa3 USD 2.125 S Qnb Finance Ltd 14.02.18 4.2 97.02 2.84 143 Qatar Financial XS0423038875 10'099'322 100000 / 1000 AA Aa2 USD 6.550 S State Of Qatar 09.04.19 4.7 119.03 2.85 102 Qatar Government XS0432791571 10'249'794 100000 / 1000 A A2 USD 7.875 S Qtel International Fin 10.06.19 4.7 121.92 3.63 175 Qatar TMT USM8222MAG70 10'380'778 250000 / 1000 A Aa3 USD 6.750 S Ras Laffan Lng 3 30.09.19 5.0 117.13 3.58 161 Qatar Energy XS0466365383 10'737'059 100000 / 1000 BBB+ Baa1 USD 7.500 S Cbq Finance Ltd 18.11.19 5.0 117.56 4.25 224 Qatar Financial XS0468534580 10'751'948 100000 / 1000 AA Aa2 USD 5.250 S State Of Qatar 20.01.20 5.4 111.06 3.31 125 Qatar Government XS0527351653 11'541'576 100000 / 1000 AA Aa2 USD 5.000 S Qatari Diar Finance Qsc 21.07.20 5.8 108.54 3.59 137 Qatar Real Estate XS0549116530 11'861'454 200000 / 1000 A A2 USD 4.750 S Qtel International Fin 16.02.21 6.2 104.63 4.02 169 Qatar TMT XS0615236006 1'444'528 200000 / 1000 AA Aa2 USD 4.500 S State Of Qatar 20.01.22 6.9 104.88 3.81 131 Qatar Government XS0866438475 20'260'965 200000 / 1000 A A2 USD 3.250 S Qtel International Fin 21.02.23 8.0 90.55 4.49 179 Qatar TMT XS0551307100 11'887'380 200000 / 1000 A A2 USD 5.000 S Qtel International Fin 19.10.25 8.9 101.17 4.87 199 Qatar TMT XS0880134258 20'549'523 200000 / 1000 A A2 USD 3.875 S Qtel International Fin 31.01.28 10.6 86.88 5.18 219 Qatar TMT XS0615236188 1'444'539 200000 / 1000 AA Aa2 USD 5.750 S State Of Qatar 20.01.42 14.1 104.74 5.42 179 Qatar Government

US77586TAA43 14'911'050 2000 BB+ Baa3 USD 6.750 S Romania 07.02.22 6.5 111.80 5.01 250 Romania Government US77586TAC09 20'734'249 2000 BB+ Baa3 USD 4.375 S Romania 22.08.23 7.9 93.75 5.19 240 Romania Government

XS0288747669 2'959'826 100000 / 1000 BBB Baa1 USD 5.670 S Transneft 05.03.14 0.5 102.62 0.42 37 Russia Energy XS0606382413 12'684'045 150000 / 1000 NR Ba3 USD 7.000 S Hcfb Llc(Eurasia Cap Sa) 18.03.14 0.5 102.58 2.13 207 Russia Financial XS0190490606 1'835'648 2000 / 1000 BB+ Ba1 USD 9.250 S Severstal 19.04.14 0.6 105.05 1.08 101 Russia Basic Materials XS0442348404 10'394'630 100000 / 1000 BBB Baa1 USD 8.125 S Gazprom (Gaz Capital Sa) 31.07.14 0.9 106.41 0.97 87 Russia Energy XS0463663442 10'706'028 100000 / 1000 BBB Baa2 USD 6.375 S Lukoil Intl Finance Bv 05.11.14 1.1 105.86 1.29 112 Russia Energy XS0205828477 1'995'977 100000 / 1000 BB- Ba3 USD 8.875 S Alrosa Finance Sa 17.11.14 1.1 108.28 1.86 168 Russia Basic Materials XS0531270964 11'591'672 100000 / 1000 BBB- Baa3 USD 6.250 S Gazprombk (Gpb Finance) 15.12.14 1.2 105.13 2.15 195 Russia Financial XS0484208771 10'973'794 100000 / 1000 BBB Baa2 USD 6.250 S Rosneft Finance Sa 02.02.15 1.4 106.20 1.77 153 Russia Energy XS0491998133 11'079'804 100000 / 1000 BBB Baa2 USD 6.465 S Vtb Bank (Vtb Capital Sa 04.03.15 1.4 106.04 2.34 208 Russia Financial XS0494095754 11'105'469 100000 / 1000 Ba2 USD 6.699 S  Bk Moscow (Bom Capital) 11.03.15 1.4 105.47 2.98 271 Russia Financial XS0493579238 11'104'829 100000 / 1000 B+ USD 9.875 S Alliance Oil Co Ltd 11.03.15 1.4 107.81 4.49 422 Russia Energy XS0494933806 11'118'088 100000 / 1000 BB+ Ba1 USD 8.000 S  Alfa Mtn Issuance Ltd 18.03.15 1.4 107.44 3.00 273 Russia Financial XS0504954180 11'253'595 100000 BBB Baa1 USD 3.625 S Russia Foreign Bond 29.04.15 1.6 104.30 0.99 68 Russia Government XS0524435715 11'499'616 100000 / 1000 Baa1 USD 5.499 S Sberbank (Sb Cap Sa) 07.07.15 1.7 106.25 2.02 166 Russia Financial XS0230577941 2'281'768 100000 / 1000 BBB- Baa3 USD 6.500 S Gazprombank 23.09.15 1.9 107.15 2.88 246 Russia Financial XS0234987153 2'328'821 100000 / 1000 B+ B1 USD 8.250 S Evraz 10.11.15 2.0 107.48 4.60 412 Russia Basic Materials XS0562354182 12'045'608 200000 / 1000 BBB Baa1 USD 5.092 S Gazprom (Gaz Capital Sa) 29.11.15 2.1 106.01 2.31 182 Russia Energy XS0587030957 12'413'907 200000 / 1000 BB Ba3 USD 6.493 S  Vimpelcom (Vip Fin) 02.02.16 2.2 105.78 3.95 338 Russia TMT XS0588436799 12'424'759 200000 / 1000 BBB- Baa3 USD 5.326 S  Novatek(Novatek Fin Ltd) 03.02.16 2.3 105.39 2.99 242 Russia Energy XS0253861834 2'554'401 100000 / 1000 BB Ba3 USD 8.250 S Vimpelcom 23.05.16 2.4 110.47 4.13 344 Russia TMT XS0708813653 14'345'742 200000 / 1000 BBB Baa1 USD 4.950 S Gazprom (Gaz Capital Sa) 23.05.16 2.5 105.54 2.82 213 Russia Energy XS0630950870 13'079'719 200000 / 1000 BBB USD 5.125 S Veb-Leasing (Veb) 27.05.16 2.5 104.55 3.36 267 Russia Financial XS0640334768 13'219'253 200000 / 1000 CCC+ B3 USD 7.750 S Koks Oao (Koks Finance L 23.06.16 2.4 94.38 10.10 937 Russia Basic Materials

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0650962185 13'393'056 200000 / 1000 Ba2 USD 6.500 S  Metalloinvest Finance Lt 21.07.16 2.6 105.04 4.61 385 Russia Basic Materials XS0648402583 13'420'813 200000 / 1000 BB+ Ba1 USD 6.250 S Jsc Severstal(Steel Cap) 26.07.16 2.6 106.26 3.94 318 Russia Basic Materials XS0276456315 2'801'108 100000 / 1000 BBB Baa1 USD 6.212 S Gazprom 22.11.16 2.9 109.83 2.98 208 Russia Energy XS0719009754 14'928'331 200000 / 1000 BBB USD 5.375 S Vnesheconombank(Veb) 13.02.17 3.1 105.70 3.60 261 Russia Financial XS0643176448 13'251'983 200000 / 1000 BB Ba3 USD 6.255 S Vimpelcom Hldgs 01.03.17 3.1 104.31 4.89 389 Russia TMT XS0861980372 20'145'900 200000 / 1000 BBB Baa1 USD 3.149 S Rosneft(Rosneft Int Fin) 06.03.17 3.2 99.26 3.37 236 Russia Energy XS0292530309 3'000'604 100000 / 1000 BBB Baa2 USD 6.625 S Rosneft Finance Sa 20.03.17 3.1 109.60 3.71 267 Russia Energy XS0543956717 11'779'999 100000 / 1000 Baa1 USD 5.400 S Sberbank (Sb Cap Sa) 24.03.17 3.2 106.01 3.58 255 Russia Financial XS0499245180 11'176'367 100000 / 1000 BBB Baa1 USD 5.739 S  Rzd Capital Plc (Rzd) 03.04.17 3.2 107.37 3.53 248 Russia Transportation XS0767469827 18'323'479 200000 BBB Baa1 USD 3.250 S Russian Federation 04.04.17 3.3 103.96 2.10 105 Russia Government XS0772509484 18'368'849 200000 / 1000 Baa2 USD 6.000 S Vtb Bank (Vtb Capital Sa 12.04.17 3.2 104.51 4.62 357 Russia Financial XS0652913558 18'433'532 200000 / 1000 B+ B1 USD 7.400 S Evraz Group Sa 24.04.17 3.1 101.33 6.97 590 Russia Basic Materials XS0775984213 18'441'599 200000 / 1000 Ba2 USD 8.500 S Promsvyazbk(Psb Finance) 25.04.17 3.0 107.58 6.14 507 Russia Financial XS0299183250 3'080'542 100000 / 1000 B1 USD 6.020 S Bk Of Moscow (Kuznetski) 10.05.17 3.2 102.99 5.12 403 Russia Financial XS0300998779 3'106'077 100000 / 1000 Baa3 USD 6.299 S Russian Agricultural Bank 15.05.17 3.2 106.13 4.48 338 Russia Financial XS0652911420 18'582'288 200000 / 1000 B USD 6.875 S Georgian Oil & Gas Corp 16.05.17 3.2 104.67 5.46 436 Russia Energy XS0783291221 18'589'384 200000 / 1000 BBB- Baa3 USD 5.625 S Gazprombk (Gpb Finance) 17.05.17 3.3 105.20 4.09 300 Russia Financial XS0304273948 3'176'564 100000 / 1000 BBB Baa2 USD 6.356 S Lukoil 07.06.17 3.3 111.03 3.21 209 Russia Energy XS0544362972 11'778'760 100000 / 1000 BB+ Ba1 USD 7.875 S Alfa Bank (Alfa Bond) 25.09.17 3.4 110.14 5.08 383 Russia Financial XS0551315384 11'896'651 100000 / 1000 BB+ Ba1 USD 6.700 S Severstal (Steel Cap) 25.10.17 3.5 106.81 4.86 358 Russia Basic Materials XS0552679879 11'926'052 200000 / 1000 Ba3 USD 5.375 S Sovcomflot 27.10.17 3.6 100.47 5.24 396 Russia Transportation XS0850393264 19'922'570 200000 / 1000 BB- Ba3 USD 6.500 S Brunswick Rail Finance 01.11.17 3.5 98.42 6.94 565 Russia Transportation XS0559800122 12'016'790 100000 / 1000 BBB USD 5.450 S Vnesheconombank(Veb) 22.11.17 3.7 105.71 3.96 265 Russia Financial XS0796426228 18'865'338 200000 / 1000 Baa3 USD 5.298 S Ojsc Russ Agric Bk(Rshb) 27.12.17 3.8 102.02 4.77 342 Russia Financial XS0585211591 12'386'540 200000 / 1000 B+ B1 USD 7.750 S Oao Tmk (Tmk Capital) 27.01.18 3.7 104.79 6.48 509 Russia Industrial XS0878855773 20'558'448 200000 / 1000 Ba1 USD 3.914 S Sibur Securities Ltd 31.01.18 4.0 94.81 5.25 385 Russia Energy XS0888245122 20'671'402 200000 / 1000 Baa3 USD 4.204 S Phosagro(Phos Bond Fund) 13.02.18 4.0 96.96 4.98 356 Russia Basic Materials XS0592794597 12'491'708 200000 / 1000 BBB Baa2 USD 6.315 S  Vtb Bank (Vtb Capital Sa 22.02.18 3.9 105.51 4.92 350 Russia Financial XS0324963932 3'455'620 100000 / 1000 BBB Baa2 USD 7.875 S Rosneft Finance Sa 13.03.18 3.7 114.28 4.36 292 Russia Energy XS0899969702 20'944'908 200000 / 1000 BB+ NR USD 4.450 S Severstal (Steel Cap) 19.03.18 4.0 96.17 5.41 396 Russia Basic Materials XS0357281558 3'931'060 100000 / 1000 BBB Baa1 USD 8.146 S Gazprom 11.04.18 3.8 115.53 4.38 290 Russia Energy XS0919502434 21'212'978 200000 / 1000 BBB Baa2 USD 3.416 S Lukoil Intl Finance Bv 24.04.18 4.2 98.71 3.72 223 Russia Energy XS0923110232 21'235'632 200000 / 1000 Ba3 USD 7.250 S Nomos Bank(Nomos Cap) 25.04.18 3.8 100.63 7.09 559 Russia Financial XS0618905219 12'909'603 200000 / 1000 B+ B1 USD 6.750 S Evraz Group Sa 27.04.18 3.8 96.92 7.55 605 Russia Basic Materials XS0361041808 3'991'357 100000 / 1000 BB Ba3 USD 9.125 S Vimpelcom 30.04.18 3.7 114.78 5.48 398 Russia TMT XS0922134712 21'278'083 200000 / 1000 BBB- Baa2 USD 4.375 S Mmc Finance Ltd 30.04.18 4.1 98.17 4.82 332 Russia Financial XS0923472814 21'299'678 200000 / 1000 Ba3 USD 6.375 S Nord Gold Nv 07.05.18 3.8 92.31 8.39 689 Russia Basic Materials XS0365923977 4'256'361 100000 / 1000 BBB Baa2 USD 6.875 S P Vtb Capital (Put At 100 On 05/13) 29.05.18 4.0 107.14 5.15 362 Russia Financial XS0366630902 4'266'361 100000 / 1000 Baa3 USD 7.750 S Russian Agricultural Bank 29.05.18 3.9 111.82 4.92 338 Russia Financial XS0955232854 21'944'094 200000 / 1000 Baa3 USD 5.100 S Ojsc Russ Agric Bk(Rshb) 25.07.18 4.3 100.20 5.05 345 Russia Financial XS0889401054 20'671'400 200000 / 1000 BB Ba3 USD 5.200 S Vimpelcom Hldgs 13.02.19 4.6 97.54 5.73 395 Russia TMT XS0783242877 18'599'531 200000 / 1000 BB USD 6.950 S Sistema Jsfc (Sistema In 17.05.19 4.6 104.31 6.04 418 Russia XS0799357354 18'896'599 200000 / 1000 Baa1 USD 5.180 S Sberbank (Sb Cap Sa) 28.06.19 4.9 101.52 4.88 298 Russia Financial XS0461926569 10'706'019 100000 / 1000 BBB Baa2 USD 7.250 S Lukoil Intl Finance Bv 05.11.19 4.9 112.33 4.91 291 Russia Energy XS0484209159 10'973'943 100000 / 1000 BBB Baa2 USD 7.250 S Rosneft Finance Sa 02.02.20 5.1 111.54 5.11 304 Russia Energy XS0885733153 20'602'651 200000 / 1000 BBB Baa1 USD 3.850 S Gazprom (Gaz Capital Sa) 06.02.20 5.6 93.66 5.02 294 Russia Energy XS0918297382 21'152'886 200000 / 1000 BB- Ba2 USD 5.625 S Metalloinvest Finance Lt 17.04.20 5.3 94.54 6.66 452 Russia Basic Materials XS0918604496 21'164'160 200000 / 1000 BB+ USD 4.875 S Edc Finance Ltd 17.04.20 5.4 92.60 6.26 412 Russia Energy XS0808638612 21'172'469 200000 / 1000 B+ USD 6.500 S Evraz Group Sa 22.04.20 5.1 90.77 8.34 620 Russia Basic Materials

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0922301717 21'227'808 200000 / 1000 BB+ USD 5.625 S Polyus Gold Intl Ltd 29.04.20 5.3 95.96 6.38 423 Russia Basic Materials XS0513723873 11'446'291 100000 / 1000 BB+ Ba2 USD 8.625 S Mts Intl Funding Ltd 22.06.20 5.2 115.98 5.75 356 Russia TMT XS0524610812 11'503'338 100000 / 1000 BBB USD 6.902 S Vnesheconombank(Veb) 09.07.20 5.4 108.87 5.34 313 Russia Financial XS0548633659 11'857'937 100000 / 1000 BBB Baa2 USD 6.551 S Vtb Bank (Vtb Capital Sa 13.10.20 5.5 103.51 5.94 366 Russia Financial XS0555493203 11'959'752 200000 / 1000 BB- Ba3 USD 7.750 S Alrosa Finance Sa 03.11.20 5.4 109.08 6.16 388 Russia Basic Materials XS0554659671 11'967'385 200000 / 1000 BBB Baa2 USD 6.125 S Lukoil Intl Finance Bv 09.11.20 5.7 105.55 5.19 290 Russia Energy XS0708813810 14'345'842 200000 / 1000 BBB Baa1 USD 5.999 S Gazprom (Gaz Capital Sa) 23.01.21 5.9 102.58 5.57 324 Russia Energy XS0587031096 12'412'552 200000 / 1000 BB Ba3 USD 7.748 S Vimpelcom (Vip Fin) 02.02.21 5.6 103.99 7.05 472 Russia TMT XS0588433267 12'423'881 200000 / 1000 BBB- Baa3 USD 6.604 S Novatek(Novatek Fin Ltd) 03.02.21 5.8 106.32 5.55 322 Russia Energy XS0620695204 12'909'573 200000 / 1000 BB+ Ba1 USD 7.750 S Alfa Bank (Alfa Bond) 28.04.21 5.6 105.94 6.74 437 Russia Financial XS0632887997 13'106'862 200000 / 1000 Ba3 USD 6.000 S C Ojsc Russ Agric Bk(Rshb) 03.06.21 2.5 99.76 6.88 539 Russia Financial XS0638572973 13'185'681 200000 / 1000 Baa1 USD 5.717 S Sberbank (Sb Cap Sa) 16.06.21 6.1 101.04 5.55 316 Russia Financial XS0743596040 14'911'548 200000 / 1000 Baa1 USD 6.125 S Sberbank (Sb Cap Sa) 07.02.22 6.5 102.75 5.71 320 Russia Financial XS0643183220 13'252'272 200000 / 1000 BB Ba3 USD 7.504 S Vimpelcom Hldgs 01.03.22 6.2 101.78 7.22 470 Russia TMT XS0861981180 20'145'902 200000 / 1000 BBB Baa1 USD 4.199 S Rosneft(Rosneft Int Fin) 06.03.22 6.8 89.91 5.71 319 Russia Energy XS0290580595 2'971'103 100000 / 1000 BBB Baa1 USD 6.510 S Gazprom 07.03.22 6.3 104.55 5.82 330 Russia Energy XS0767472458 18'319'102 200000 BBB Baa1 USD 4.500 S Russian Federation 04.04.22 6.9 100.31 4.46 192 Russia Government XS0764220017 18'329'887 200000 / 1000 BBB Baa1 USD 5.700 S Rzd Capital Plc (Rzd) 05.04.22 6.6 101.27 5.51 297 Russia Transportation XS0304274599 3'178'767 100000 / 1000 BBB Baa2 USD 6.656 S Lukoil 07.06.22 6.6 107.56 5.55 298 Russia Energy XS0800817073 18'928'345 200000 / 1000 BBB USD 6.025 S Vnesheconombank(Veb) 05.07.22 6.7 100.96 5.88 330 Russia Financial XS0805570354 19'034'440 200000 / 1000 BBB Baa1 USD 4.950 S Gazprom (Gaz Capital Sa) 19.07.22 7.0 94.10 5.81 322 Russia Energy XS0830192711 19'497'176 200000 / 1000 BBB- Baa3 USD 4.375 S Gazprom N (Gpn Capital) 19.09.22 7.1 89.62 5.87 325 Russia Energy XS0831571434 19'536'909 200000 / 1000 BBB A3 USD 4.767 S Eurasian Development Ban 20.09.22 7.0 94.52 5.55 292 Russia Sovereign-linked Entity XS0841671000 19'755'418 200000 / 1000 BB+ Ba1 USD 5.900 S Severstal (Steel Cap) 17.10.22 6.7 92.04 7.10 446 Russia Basic Materials XS0864383723 20'218'260 200000 / 1000 BBB- Baa3 USD 4.422 S Novatek(Novatek Fin Ltd) 13.12.22 7.3 89.53 5.90 324 Russia Energy XS0889401724 20'671'401 200000 / 1000 BB Ba3 USD 5.950 S Vimpelcom Hldgs 13.02.23 6.9 90.26 7.40 471 Russia TMT XS0919504562 21'212'979 200000 / 1000 BBB Baa2 USD 4.563 S Lukoil Intl Finance Bv 24.04.23 7.4 90.81 5.82 309 Russia Energy XS0921331509 21'487'138 200000 / 1000 BB+ Ba2 USD 5.000 S Mts Intl Funding Ltd 30.05.23 7.4 89.81 6.42 368 Russia TMT XS0559915961 12'016'796 100000 / 1000 BBB USD 6.800 S Vnesheconombank(Veb) 22.11.25 8.2 104.02 6.32 343 Russia Financial XS0885736925 20'607'581 200000 / 1000 BBB Baa1 USD 4.950 S Gazprom (Gaz Capital Sa) 06.02.28 9.7 85.19 6.55 356 Russia Energy XS0316524130 3'327'215 100000 / 1000 BBB Baa1 USD 7.288 S Gazprom 16.08.37 11.4 103.78 6.96 354 Russia Energy XS0767473852 18'319'101 200000 BBB Baa1 USD 5.625 S Russian Federation 04.04.42 13.8 99.92 5.63 199 Russia Government

XS0498751691 11'166'804 100000 / 1000 A Aa3 USD 4.250 S Banque Saudi Fransi 30.03.15 1.5 104.67 1.24 96 Saudi Arabia Financial XS0554434240 11'949'194 200000 / 1000 A+ A1 USD 3.000 S Sabic Capital I Bv 02.11.15 2.1 103.80 1.21 74 Saudi Arabia Basic Materials XS0764883806 18'308'052 200000 / 1000 AA- A1 USD 2.665 S Saudi Electricity Global 03.04.17 3.4 103.03 1.79 74 Saudi Arabia Utilities XS0863496633 20'186'977 200000 / 1000 BBB+ A3 USD 2.375 S Gulf International Bank 11.12.17 4.0 98.38 2.78 144 Saudi Arabia Financial XS0922143382 21'268'091 200000 / 1000 USD 3.950 S Tf Varlik Kiralama As 02.05.18 4.1 93.25 5.62 411 Saudi Arabia Financial XS0767862914 18'308'152 200000 / 1000 AA- A1 USD 4.211 S Saudi Electricity Global 03.04.22 7.0 98.20 4.47 193 Saudi Arabia Utilities XS0908512410 21'044'575 200000 / 1000 AA- A1 USD 3.473 S Saudi Electricity Global 08.04.23 7.9 93.33 4.33 161 Saudi Arabia Utilities XS0911024635 21'044'776 200000 / 1000 AA- A1 USD 5.060 S Saudi Electricity Global 08.04.43 13.9 86.99 6.00 232 Saudi Arabia Utilities

XS0856951263 20'043'864 200000 / 1000 BB- B1 USD 5.250 S Republic Of Serbia 21.11.17 3.7 98.48 5.66 434 Serbia Government XS0893103852 20'732'624 200000 / 1000 BB- B1 USD 4.875 S Republic Of Serbia 25.02.20 5.4 91.03 6.60 451 Serbia Government XS0680231908 13'945'647 200000 / 1000 BB- B1 USD 7.250 S Republic Of Serbia 28.09.21 5.9 100.81 7.11 467 Serbia Government

XS0500330237 11'186'884 100000 / 1000 A2 USD 4.321 S Capitamall 08.04.15 1.5 104.45 1.48 120 Singapore REITS USY8162BAE57 11'609'952 100000 / 1000 NR Ba1 USD 7.500 S Stats Chippac Ltd 12.08.15 Singapore Industrial XS0541403803 11'736'822 100000 / 1000 AA- Aa1 USD 2.375 S Dbs Bank Ltd/Singapore 14.09.15 2.0 103.29 0.74 32 Singapore Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USY8585EAA65 2'280'604 150000 / 1000 AAA Aaa USD 4.500 S Temasek Financial I Ltd 21.09.15 1.9 107.45 0.82 40 Singapore Financial US24023DAB01 18'050'726 200000 / 1000 AA- Aa1 USD 2.350 S Dbs Bank Ltd/Singapore 28.02.17 3.3 101.26 1.97 96 Singapore Financial XS0752983154 18'102'999 200000 / 1000 AA- Aa1 USD 2.250 S United Overseas Bank Ltd 07.03.17 3.3 100.99 1.96 94 Singapore Financial XS0754808227 18'112'417 200000 / 1000 A+ Aa3 USD 2.375 S Singtel Group Treasury P 08.09.17 3.8 101.22 2.06 83 Singapore TMT USY8162BAG06 20'864'985 200000 / 1000 BB+ Ba1 USD 4.500 S Stats Chippac Ltd 20.03.18 4.0 99.10 4.72 327 Singapore Industrial XS0758251028 18'170'632 200000 / 1000 A2 USD 3.731 S Cmt Mtn Pte Ltd 21.03.18 4.1 103.29 2.95 150 Singapore REITS XS0457559838 10'649'020 100000 / 1000 A NR USD 4.625 S Singapore Telecom 15.10.19 5.2 106.42 3.45 147 Singapore TMT XS0466655890 10'736'201 100000 / 1000 A+ Aa2 USD 4.250 S C Oversea-Chinese Banking 18.11.19 1.2 102.90 4.00 162 Singapore Financial XS0862889663 20'185'489 200000 / 1000 USD 3.259 S Keppel Land Financial Se 11.12.19 5.5 95.29 4.12 209 Singapore Real Estate XS0531622404 11'605'101 100000 / 1000 AA Aa1 USD 3.875 S Psa International Pte Lt 11.02.21 6.4 102.20 3.54 120 Singapore Transportation XS0600103401 12'616'667 200000 / 1000 A+ Aa3 USD 4.500 S Singtel Group Treasury P 08.09.21 6.6 105.15 3.75 131 Singapore TMT XS0827991505 19'441'038 200000 / 1000 AA- Aa3 USD 2.700 S Sp Powerassets Ltd 14.09.22 7.8 92.14 3.73 112 Singapore Utilities XS0831700421 19'549'591 200000 / 1000 USD 4.076 S Capitaland Treasury Ltd 20.09.22 7.3 94.39 4.85 223 Singapore Real Estate US24023DAC83 18'193'440 200000 / 1000 A+ Aa2 USD 3.625 S C Dbs Bank Ltd/Singapore 21.09.22 3.7 101.50 3.64 198 Singapore Financial US87973RAC43 19'068'223 250000 / 1000 AAA Aaa USD 2.375 S Temasek Financial I Ltd 23.01.23 8.2 90.54 3.57 89 Singapore Financial XS0836488485 19'705'457 200000 / 1000 BBB A3 USD 3.300 S Spi Australia Assets Pty 09.04.23 7.8 90.63 4.78 205 Singapore Utilities US87973RAD26 19'068'222 250000 / 1000 AAA Aaa USD 3.375 S Temasek Financial I Ltd 23.07.42 16.9 80.74 4.58 93 Singapore Financial KYG9289K2003 2'372'467 100000 BBB A3 USD 5.796 S Uob Cayman Ltd 2.3 104.75 2.19 319 Singapore Financial

XS0782720402 18'591'376 200000 / 1000 A A2 USD 4.375 S Slovak Republic 21.05.22 7.1 100.46 4.31 175 Slovakia Government

XS0927637495 21'326'619 200000 / 1000 A- Ba1 USD 4.750 S Republic Of Slovenia 10.05.18 4.1 97.14 5.45 394 Slovenia Government XS0847086237 19'878'918 200000 / 1000 A- Ba1 USD 5.500 S Republic Of Slovenia 26.10.22 6.9 92.88 6.55 391 Slovenia Government XS0927637818 21'326'671 200000 / 1000 A- Ba1 USD 5.850 S Republic Of Slovenia 10.05.23 7.1 94.70 6.60 386 Slovenia Government

XS0650262875 13'426'228 200000 / 1000 BBB- Baa2 USD 5.750 S African Export-Import Ba 27.07.16 2.6 105.42 3.76 300 SNAT Sovereign-linked Entity USP1393HAA60 18'319'014 150000 / 1000 BBB USD 3.750 S Banco Latinoamericano Sa 04.04.17 3.3 101.25 3.38 233 SNAT Financial

XS0590902325 12'457'440 200000 / 1000 BBB A3 USD 4.500 S Transnet Soc Ltd 10.02.16 2.3 103.19 3.13 255 South Africa Transportation XS0635404477 13'141'082 200000 / 1000 BBB A3 USD 4.375 S Firstrand Bank Ltd 09.06.16 2.6 104.42 2.70 200 South Africa Financial XS0638008051 13'188'818 200000 / 1000 Baa3 USD 6.000 S African Bank Limited 15.06.16 2.5 101.19 5.53 481 South Africa Financial XS0751016865 18'050'773 200000 / 1000 Baa3 USD 8.125 S African Bank Limited 24.02.17 3.0 104.23 6.74 573 South Africa Financial USN5946FAA59 11'568'100 100000 / 1000 Baa3 USD 6.375 S Naspers 28.07.17 3.4 108.75 3.93 275 South Africa TMT US836205AN45 11'093'231 100000 / 1000 BBB Baa1 USD 5.500 S Republic Of South Africa 09.03.20 5.3 104.44 4.70 260 South Africa Government US03512TAA97 11'248'300 1000 BB+ Baa3 USD 5.375 S Anglogold Holdings Plc 15.04.20 5.3 88.67 7.58 545 South Africa Basic Materials USN5946FAB33 21'892'784 200000 / 1000 Baa3 USD 6.000 S Myriad Int Holdings Bv 18.07.20 5.6 103.03 5.46 325 South Africa TMT US03512TAD37 21'989'654 1000 BB+ Baa3 USD 8.500 S Anglogold Holdings Plc 30.07.20 5.1 100.00 8.50 627 South Africa Basic Materials XS0579851949 12'368'062 200000 / 1000 BBB Baa3 USD 5.750 S Eskom Holdings Limited 26.01.21 5.9 96.95 6.27 395 South Africa Utilities USA35868AA59 12'835'157 200000 / 1000 BB Ba2 USD 6.625 S Sappi Papier Holdng Gmbh 15.04.21 5.7 98.15 6.94 458 South Africa Basic Materials XS0809571739 19'095'958 200000 / 1000 BBB A3 USD 4.000 S Transnet Soc Ltd 26.07.22 7.2 83.69 6.44 384 South Africa Transportation US03512TAC53 19'141'330 1000 BB+ Baa3 USD 5.125 S Anglogold Holdings Plc 01.08.22 6.8 85.12 7.44 484 South Africa Basic Materials XS0958072240 22'033'922 200000 / 1000 BBB Baa3 USD 6.750 S Eskom Holdings Limited 06.08.23 7.1 98.53 6.96 418 South Africa Utilities US836205AQ75 14'715'301 100000 / 1000 BBB Baa1 USD 4.665 S Republic Of South Africa 17.01.24 8.0 93.69 5.47 267 South Africa Government US836205AP92 12'617'181 100000 / 1000 BBB Baa1 USD 6.250 S Republic Of South Africa 08.03.41 12.6 99.08 6.32 273 South Africa Government

USY0646EAR37 18'499'804 200000 / 1000 B1 USD 6.875 S Bank Of Ceylon 03.05.17 3.1 99.13 7.15 607 Sri Lanka Financial XS0914798268 21'122'381 200000 / 1000 USD 5.325 S Bank Of Ceylon 16.04.18 3.9 92.63 7.23 575 Sri Lanka Financial USY2029SAG94 13'426'216 200000 / 1000 B+ B1 USD 6.250 S Republic Of Sri Lanka 27.07.21 6.0 94.33 7.20 479 Sri Lanka Government USY2029SAH77 19'077'992 200000 / 1000 B+ B1 USD 5.875 S Republic Of Sri Lanka 25.07.22 6.7 90.75 7.31 471 Sri Lanka Government

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

USQ7787RAA43 11'541'732 100000 / 1000 BBB+ Baa1 USD 4.152 S Pttep Aust Intl Fin Pty 19.07.15 1.8 104.26 1.82 146 Thailand Financial USY0606WBR08 11'888'244 100000 / 1000 BBB+ A3 USD 3.250 S Bangkok Bank Pub Co (Hk) 18.10.15 2.0 102.90 1.85 140 Thailand Financial XS0626018922 12'995'237 200000 / 1000 BBB+ A3 USD 3.900 S Siam Commercial Bank(Hk) 14.11.16 3.0 105.37 2.15 126 Thailand Financial US82571BAA08 18'170'523 200000 / 1000 BBB+ A3 USD 3.375 S Siam Commercial Bank(Hk) 19.09.17 3.7 101.11 3.08 184 Thailand Financial USY0606WBT63 19'607'229 200000 / 1000 BBB+ A3 USD 2.750 S Bangkok Bank Pub Co (Hk) 27.03.18 4.2 98.28 3.16 170 Thailand Financial USY0606WBS80 11'888'240 100000 / 1000 BBB+ A3 USD 4.800 S Bangkok Bank Pub Co (Hk) 18.10.20 5.9 103.13 4.28 201 Thailand Financial USC75088AA97 12'791'836 200000 / 1000 BBB+ Baa1 USD 5.692 S Pttep Canada Intl Fin Lt 05.04.21 6.0 106.49 4.67 231 Thailand Energy USY7150WAA37 19'520'304 200000 / 1000 BBB Baa2 USD 4.250 S Ptt Global Chemical Pcl 19.09.22 7.2 94.88 4.96 234 Thailand Basic Materials USY0606WBU37 19'607'258 200000 / 1000 BBB+ A3 USD 3.875 S Bangkok Bank Pub Co (Hk) 27.09.22 7.4 93.83 4.72 209 Thailand Financial USY71548BY95 19'872'578 200000 / 1000 BBB+ Baa1 USD 3.375 S Ptt Pcl 25.10.22 7.6 90.36 4.68 204 Thailand Energy USY8620BAP68 20'503'611 200000 / 1000 BBB Baa1 USD 3.625 S Thai Oil Pcl 23.01.23 7.7 90.34 4.92 224 Thailand Energy USY8620BAQ42 20'503'951 200000 / 1000 BBB Baa1 USD 4.875 S Thai Oil Pcl 23.01.43 13.9 81.55 6.25 258 Thailand Energy

XS0461517392 10'686'179 100000 / 1000 USD 7.000 S Bankpozitif (Cisal) 28.10.14 1.1 102.00 5.17 501 Turkey Financial US900123AV22 1'965'615 2000 / 1000 NR Baa3 USD 7.250 S Republic Of Turkey 15.03.15 1.4 106.82 2.66 239 Turkey Government USM0300LAA46 11'546'842 100000 / 1000 Baa2 USD 5.125 S Akbank Tas 22.07.15 1.8 102.30 3.84 348 Turkey Financial XS0546767863 11'827'806 200000 / 1000 B2 USD 9.625 S C Yasar(Willow No.2) 07.10.15 1.8 100.88 9.15 871 Turkey Basic Materials XS0524202610 11'848'290 100000 / 1000 BB+ USD 5.188 S Yapi(Unicredit Luxemb) 13.10.15 1.9 101.46 4.45 401 Turkey Financial XS0558618384 11'995'400 100000 / 1000 Caa1 USD 9.500 S C Yuksel Insaat 10.11.15 1.6 68.00 30.62 3015 Turkey Industrial USM8933FAB33 12'396'752 200000 / 1000 Baa2 USD 5.100 S Turkiye Is Bankasi A.S 01.02.16 2.2 101.19 4.57 400 Turkey Financial USM4R36CAA80 12'987'223 200000 / 1000 Ba2 USD 5.500 S Finansbank As 11.05.16 2.4 98.08 6.28 561 Turkey Financial XS0701688128 14'233'891 200000 / 1000 BB+ Baa3 USD 5.375 S Export Credit Bank Of Tu 04.11.16 2.8 102.62 4.48 360 Turkey Financial XS0615235701 14'917'045 200000 / 1000 Baa2 USD 6.750 S Yapi Ve Kredi Bankasi 08.02.17 3.0 103.17 5.72 473 Turkey Financial XS0772024120 18'441'609 200000 / 1000 Baa2 USD 5.750 S Turkiye Vakiflar Bankasi 24.04.17 3.2 100.69 5.54 447 Turkey Financial XS0806482948 19'049'522 200000 / 1000 Baa2 USD 4.875 S Turkiye Halk Bankasi 19.07.17 3.5 97.90 5.48 431 Turkey Financial USM8931TAE93 19'466'627 200000 / 1000 Baa2 USD 4.000 S Turkiye Garanti Bankasi 13.09.17 3.6 94.33 5.59 436 Turkey Financial USM0375YAJ75 19'837'854 150000 / 1000 Baa2 USD 3.875 S Akbank Tas 24.10.17 3.7 94.07 5.49 421 Turkey Financial XS0852697712 19'958'359 200000 / 1000 Baa2 USD 3.875 S Turkiye Is Bankasi A.S 07.11.17 3.7 93.17 5.74 444 Turkey Financial USM0300LAC02 12'634'090 150000 / 1000 Baa2 USD 6.500 S Akbank Tas 09.03.18 3.8 102.54 5.85 441 Turkey Financial XS0916347759 21'122'899 200000 / 1000 Baa2 USD 3.750 S Turkiye Vakiflar Bankasi 15.04.18 4.1 90.42 6.17 469 Turkey Financial XS0849020556 19'921'264 200000 / 1000 Ba1 USD 4.125 S Tupras-Turkiye Petrol Ra 02.05.18 4.1 91.94 6.14 464 Turkey Energy XS0808632250 21'089'515 200000 / 1000 Baa2 USD 3.750 S Turkiye Is Bankasi A.S 10.10.18 4.4 89.54 6.17 450 Turkey Financial XS0774764152 18'418'155 200000 / 1000 BB+ Baa3 USD 5.875 S Export Credit Bank Of Tu 24.04.19 4.6 100.42 5.79 395 Turkey Financial XS0874840688 20'466'062 200000 / 1000 Baa2 USD 4.000 S Yapi Ve Kredi Bankasi 22.01.20 5.4 85.08 6.93 487 Turkey Financial XS0882347072 20'594'496 200000 / 1000 Baa2 USD 3.875 S Turkiye Halk Bankasi 05.02.20 5.5 85.91 6.60 453 Turkey Financial XS0922615819 21'227'831 200000 / 1000 BBB- Baa3 USD 3.500 S Koc Holdings As 24.04.20 5.6 83.08 6.70 455 Turkey Industrial XS0927634807 21'325'525 200000 / 1000 BB+ Ba1 USD 4.250 S Turk Sise Ve Cam Fabrika 09.05.20 5.5 83.44 7.44 528 Turkey Consumer XS0957598070 22'059'087 200000 / 1000 Baa3 USD 5.875 S Mersin Ulus Liman 12.08.20 5.6 96.31 6.54 431 Turkey Consumer US900123BH29 11'128'063 100000 / 1000 NR Baa3 USD 5.625 S Republic Of Turkey 30.03.21 6.0 101.42 5.39 304 Turkey Government USM8931TAA71 12'890'280 200000 / 1000 Baa2 USD 6.250 S Turkiye Garanti Bankasi 20.04.21 5.8 94.58 7.18 482 Turkey Financial US900123BY51 14'131'378 200000 / 1000 NR Baa3 USD 5.125 S Republic Of Turkey 25.03.22 6.7 96.88 5.59 306 Turkey Government USM8931TAF68 19'466'626 200000 / 1000 Baa2 USD 5.250 S Turkiye Garanti Bankasi 13.09.22 6.7 85.58 7.48 486 Turkey Financial US900123BZ27 14'806'369 200000 / 1000 NR Baa3 USD 6.250 S Republic Of Turkey 26.09.22 6.7 103.71 5.72 309 Turkey Government USM0375YAK49 19'837'856 150000 / 1000 Baa2 USD 5.000 S Akbank Tas 24.10.22 6.9 85.31 7.22 458 Turkey Financial XS0848940523 19'879'676 200000 / 1000 BBB- Baa3 USD 3.375 S Anadolu Efes 01.11.22 7.4 78.63 6.51 387 Turkey Consumer US900123CA66 20'417'130 200000 / 1000 Baa3 USD 3.250 S Republic Of Turkey 23.03.23 7.7 82.25 5.68 297 Turkey Government XS0907295942 21'014'538 200000 / 1000 Ba3 USD 7.500 S C Asya Sukuk Co Ltd 28.03.23 3.6 92.63 9.01 807 Turkey Financial XS0910932788 21'038'374 200000 / 1000 BB+ USD 5.000 S Arcelik As 03.04.23 7.1 83.33 7.47 475 Turkey Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

US900123BG46 10'887'708 100000 / 1000 NR Baa3 USD 6.750 S Republic Of Turkey 30.05.40 12.0 99.17 6.82 326 Turkey Government US900123BJ84 12'275'691 200000 / 1000 NR Baa3 USD 6.000 S Republic Of Turkey 14.01.41 12.6 90.67 6.75 317 Turkey Government US900123CB40 21'136'612 200000 / 1000 Baa3 USD 4.875 S Republic Of Turkey 16.04.43 13.4 78.18 6.55 287 Turkey Government

XS0430234897 10'217'873 100000 / 1000 B+ B2 USD 10.750 S Aldar Properties 27.05.14 0.7 106.13 2.21 213 UAE Properties XS0436725765 10'308'556 100000 / 1000 AA A1 USD 6.500 S Tdic Finance Ltd 02.07.14 0.8 104.82 0.64 54 UAE Real Estate XS0452295560 10'548'046 100000 / 1000 A- A3 USD 4.750 S Taqa Abu Dhabi Natl Ener 15.09.14 1.0 103.88 0.95 82 UAE Utilities XS0456606481 10'633'830 100000 / 1000 A A1u USD 4.750 S Adcb Finance Cayman Ltd 08.10.14 1.1 103.99 1.06 91 UAE Financial XS0497249341 11'152'502 100000 / 1000 A+ Aa3 USD 4.250 S National Bk Of Abu Dhabi 25.03.15 1.5 104.78 1.14 87 UAE Financial XS0504040725 11'231'029 100000 / 1000 Baa3 USD 8.500 S Dubai Electricity & Wate 22.04.15 1.5 110.37 2.00 171 UAE Utilities XS0546426528 11'826'228 100000 / 1000 USD 6.700 S Dubai Govt Int'L Bonds 05.10.15 1.9 108.44 2.52 208 UAE Government XS0558268628 12'012'982 250000 / 1000 AA Aa3 USD 3.125 S Ipic Gmtn Ltd 15.11.15 2.1 103.64 1.43 95 UAE Financial XS0860583672 20'129'459 200000 / 1000 AA Aa3 USD 1.750 S Ipic Gmtn Ltd 30.11.15 2.2 100.51 1.52 102 UAE Financial XS0613313104 12'881'540 200000 / 1000 AA Aa3 USD 3.750 S Mubadala 20.04.16 2.5 105.70 1.53 87 UAE Sovereign-linked Entity XS0625554836 13'073'541 200000 / 1000 BBB+ USD 4.715 S Sib Sukuk Co Ii Ltd 25.05.16 2.5 105.31 2.68 199 UAE Financial XS0632833553 13'138'013 200000 / 1000 USD 5.125 S  Emirates Airlines 08.06.16 2.5 104.60 3.36 266 UAE Consumer XS0551313926 11'892'249 100000 / 1000 Baa3 USD 6.375 S Dubai Electricity & Wate 21.10.16 2.8 111.46 2.54 168 UAE Utilities XS0272948554 2'764'037 100000 / 1000 A- A3 USD 5.875 S Abu Dhabi Nat. Energy (Taqa) 27.10.16 2.8 111.13 2.19 133 UAE Utilities XS0703254978 14'258'638 200000 / 1000 A1 USD 3.875 S Union National Bank/Abu 10.11.16 3.0 104.76 2.31 143 UAE Financial XS0708308845 14'345'806 200000 / 1000 A A1u USD 4.071 S Adcb Islamic Finance Cay 22.11.16 3.0 105.59 2.26 136 UAE Financial XS0734046815 14'757'144 200000 / 1000 Baa1 USD 5.154 S Tamweel Funding Ltd 18.01.17 3.1 106.08 3.23 227 UAE Financial XS0742399198 14'903'772 200000 / 1000 BBB USD 5.850 S  Maf Sukuk Ltd 07.02.17 3.1 108.25 3.28 230 UAE Real Estate XS0701035320 14'226'287 200000 / 1000 AA Aa3 USD 3.750 S Ipic Gmtn Ltd 01.03.17 3.3 105.65 2.06 105 UAE Financial XS0717839525 14'487'372 200000 / 1000 A- A3 USD 4.125 S Taqa Abu Dhabi Natl Ener 13.03.17 3.2 105.52 2.48 146 UAE Utilities XS0763531406 18'230'009 200000 / 1000 A+ Aa3 USD 3.250 S National Bk Of Abu Dhabi 27.03.17 3.3 103.56 2.21 117 UAE Financial XS0765257141 18'256'267 200000 / 1000 Baa1 USD 4.625 S  Emirates Nbd Pjsc 28.03.17 3.2 104.53 3.27 223 UAE Financial XS0840538994 19'722'606 200000 / 1000 A2 USD 2.862 S First Gulf Bank 09.10.17 3.8 100.13 2.83 156 UAE Financial XS0863523972 20'197'878 200000 / 1000 A- A3 USD 2.500 S  Abu Dhabi National Energ 12.01.18 4.1 98.33 2.91 154 UAE Utilities XS0897680558 20'837'565 200000 / 1000 BBB USD 3.000 S  Dewa Sukuk 2013 Ltd 05.03.18 4.2 98.47 3.37 193 UAE Utilities XS0897453907 20'819'719 200000 / 1000 A A1u USD 2.500 S Adcb Finance Cayman Ltd 06.03.18 4.2 98.00 2.98 154 UAE Financial XS0933999863 21'417'841 200000 / 1000 Baa1 USD 3.375 S Commercial Bank Of Dubai 21.05.18 4.3 98.19 3.80 227 UAE Financial XS0380056183 4'454'326 100000 / 1000 A- A3 USD 7.250 S Abu Dhabi Nat. Energy (Taqa) 01.08.18 4.2 118.00 3.25 164 UAE Utilities USM28368AA21 10'398'009 100000 / 1000 A1 USD 5.888 S Dolphin Energy Ltd 15.06.19 4.9 109.64 4.00 212 UAE Energy XS0800825845 18'939'022 200000 / 1000 BBB USD 5.250 S  Maf Global Securities 05.07.19 5.0 102.80 4.69 280 UAE XS0805885349 19'044'693 200000 / 1000 BB+ B1 USD 6.400 S  Emaar Sukuk Ltd 18.07.19 4.8 104.56 5.48 357 UAE Real Estate XS0815939656 19'223'950 200000 / 1000 A+ Aa3 USD 3.000 S  National Bk Of Abu Dhabi 13.08.19 5.4 97.04 3.56 163 UAE Financial XS0923450414 21'242'298 200000 / 1000 Aa3 USD 2.875 S Qnb Finance Ltd 29.04.20 5.9 94.13 3.89 174 UAE Financial XS0546428144 11'826'394 100000 / 1000 USD 7.750 S Dubai Govt Int'L Bonds 05.10.20 5.4 114.92 5.20 294 UAE Government XS0551313686 11'892'344 100000 / 1000 Baa3 USD 7.375 S  Dubai Electricity & Wate 21.10.20 5.5 113.47 5.10 282 UAE Utilities XS0558268891 12'012'803 250000 / 1000 AA Aa3 USD 5.000 S Ipic Gmtn Ltd 15.11.20 6.0 106.71 3.92 163 UAE Financial XS0619200990 12'852'746 200000 / 1000 AA Aa3 USD 5.500 S Mdc-Gmtn B.V. 20.04.21 6.2 109.88 3.98 162 UAE Sovereign-linked Entity XS0717839871 14'488'384 200000 / 1000 A- A3 USD 5.875 S Taqa Abu Dhabi Natl Ener 13.12.21 6.5 109.71 4.46 197 UAE Utilities USM28368AB04 14'963'767 200000 / 1000 A1 USD 5.500 S  Dolphin Energy Ltd 15.12.21 6.6 106.31 4.57 209 UAE Energy XS0701035676 14'226'293 200000 / 1000 AA Aa3 USD 5.500 S Ipic Gmtn Ltd 01.03.22 6.8 106.97 4.50 198 UAE Financial XS0863524277 20'197'904 200000 / 1000 A- A3 USD 3.625 S Abu Dhabi National Energ 12.01.23 7.7 92.68 4.60 192 UAE Utilities XS0880424337 20'534'246 200000 / 1000 USD 3.875 S Dubai Dof Sukuk Ltd 30.01.23 7.6 88.31 5.48 280 UAE Government XS0904232310 20'948'102 200000 / 1000 USD 3.875 S  Medjool Ltd 19.03.23 7.6 91.42 5.02 231 UAE Consumer XS0885065887 20'620'810 200000 / 1000 USD 4.500 S Emirates Airlines 06.02.25 8.6 91.10 5.56 271 UAE Consumer

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. HIGH GROWTH MARKETS BOND SELECTION (Due to liquidity issue, re-check prices before trading) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossSPREAD ask TO ULT_PARENT_CNTRY_OF_RISKtsy ask ISSUER INDUSTRY Spread to ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Yield Valoren Ccy Freq. Name Maturity Gov. Bond Country Sector Number Trad. Unit S & P Moody's % Duration Price % % (bps)

XS0503737461 11'231'046 100000 / 1000 B3 USD 8.375 S Ukreximbank(Biz Fin Plc) 27.04.15 1.5 97.63 9.96 966 Ukraine Financial XS0511379066 11'330'500 100000 / 1000 B3 USD 10.250 S Metinvest Bv 20.05.15 1.5 105.38 6.85 653 Ukraine Basic Materials XS0543744535 11'773'455 100000 / 1000 B3 USD 9.375 S Privatbank(Uk Spv Cred) 23.09.15 1.7 95.63 11.83 1141 Ukraine Financial XS0543783434 11'773'458 100000 / 1000 B B3 USD 6.875 S Ukraine Government 23.09.15 1.8 97.56 8.19 776 Ukraine Government XS0553088708 11'937'514 100000 / 1000 USD 10.000 S Avangardco Investments 29.10.15 1.8 102.83 8.52 806 Ukraine Consumer XS0614325586 12'816'770 200000 / 1000 B Caa1 USD 7.875 S Ferrexpo Finance Plc 07.04.16 2.2 95.79 9.75 911 Ukraine Basic Materials XS0644750027 13'300'286 200000 / 1000 B- B3 USD 9.375 S City Of Kyiv (Kyiv Finan 11.07.16 2.4 95.50 11.25 1051 Ukraine Sovereign-linked Entity XS0276053112 2'795'302 100000 / 1000 B B3 USD 6.580 S Ukraine Government 21.11.16 2.8 92.79 9.22 832 Ukraine Government XS0808758196 19'079'815 200000 / 1000 B B3 USD 9.250 S Ukraine Government 24.07.17 3.2 98.63 9.68 850 Ukraine Government XS0330776617 3'546'094 100000 / 1000 B B3 USD 6.750 S Ukraine Government 14.11.17 3.4 89.65 9.82 851 Ukraine Government XS0877737287 20'481'115 200000 / 1000 B3 USD 8.750 S State Exp-Imp (Biz Fin) 22.01.18 3.4 89.63 11.85 1046 Ukraine Financial XS0591549232 12'473'924 200000 / 1000 B3 USD 8.750 S Metinvest Bv 14.02.18 3.6 95.66 9.98 857 Ukraine Basic Materials XS0934134312 21'424'089 200000 / 1000 B USD 9.500 S Uz Rail Via Shortline 21.05.18 3.5 90.19 12.30 1077 Ukraine Transportation XS0543783194 11'772'877 100000 / 1000 B B3 USD 7.750 S Ukraine Government 23.09.20 5.0 89.17 9.92 766 Ukraine Government XS0594390816 12'526'696 200000 / 1000 B B3 USD 7.950 S Ukraine Government 23.02.21 5.4 89.67 9.94 760 Ukraine Government XS0858358236 20'079'415 200000 / 1000 B B3 USD 7.800 S Ukraine Government 28.11.22 6.1 87.57 9.88 722 Ukraine Government XS0917605841 21'137'828 200000 / 1000 B B3 USD 7.500 S Ukraine Government 17.04.23 6.3 86.31 9.72 700 Ukraine Government

US760942AZ58 22'091'625 1 BBB- Baa3 USD 4.500 S Republica Orient Uruguay 14.08.24 8.5 98.31 4.70 187 Uruguay Government

XS0294364103 3'028'894 400 / 100 B USD 5.250 S Petroleos De Venezuela S 12.04.17 3.0 80.37 12.13 1108 Venezuela Energy USP97475AD26 1'732'489 1000 B B2 USD 7.000 S Republic Of Venezuela 01.12.18 4.1 83.36 11.29 957 Venezuela Government USP17625AA59 4'212'137 100 B B2 USD 9.000 S Republic Of Venezuela 07.05.23 5.7 80.64 12.50 976 Venezuela Government XS0217249126 2'122'225 1000 B B2 USD 7.650 S Bolivarian Rep Of Vzla 21.04.25 6.5 71.63 12.30 944 Venezuela Government XS0294364954 3'028'953 400 / 100 B USD 5.375 S Petroleos De Venezuela 12.04.27 7.7 57.87 11.61 865 Venezuela Energy

XS0234072568 2'321'973 100000 / 1000 BB- B2 USD 6.875 S Socialist Rep Of Vietnam 15.01.16 2.2 107.33 3.60 306 Vietnam Government USY9374MAF06 10'962'577 100000 / 1000 BB- B2 USD 6.750 S Socialist Rep Of Vietnam 29.01.20 5.2 107.38 5.37 330 Vietnam Government

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOCAL CURRENCIES BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossULT_PARENT_CNTRY_OF_RISK ask ISSUER INDUSTRY ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Valoren Ccy Freq. Name Issue Date Maturity Yield % Country Sector Number Trad. Unit S & P Moody's % Duration Price %

XS0478474785 10'897'481 5000 / 1000 AAA NR BRL 9.750 A Ebrd(Vs.Usd) 28.01.10 28.01.14 0.4 100.53 7.92 SNAT Sovereign-linked Entity XS0295108814 3'040'021 250000 / 1000 Baa2 BRL 10.625 S Banco Votorantim (Vs Usd) 10.04.07 10.04.14 0.5 100.21 10.21 Brazil Financial XS0771413597 18'344'742 5000 Aaa BRL 7.000 A Ibrd ( Vs Usd) 13.04.12 13.04.15 1.4 96.99 9.05 SNAT Sovereign-linked Entity US03523TAY47 12'008'395 100000 / 1000 A A3 BRL 9.750 S Anheuser-Busch(Vs. Usd) 17.11.10 17.11.15 1.9 101.58 8.93 Belgium Consumer US46556MAC64 12'039'866 150000 / 1000 Baa1 BRL 10.500 S Itau Unibanco (Vs.Usd) 23.11.10 23.11.15 1.9 98.82 11.10 Brazil Financial US105756BJ84 2'285'350 250000 / 1000 BBB Baa2 BRL 12.500 S Brazil (Vs Usd) 26.09.05 05.01.16 2.0 107.15 9.02 Brazil Government US05966UAR59 20'944'588 300000 / 1000 BBB Baa1 BRL 8.000 S Banco Santander Bras Ci 18.03.13 18.03.16 2.1 90.61 12.43 Spain Financial USP18445AF68 1'387'616 300000 / 1000 BBB- Baa3 BRL 9.750 S Oi Sa 15.09.11 15.09.16 2.4 89.74 14.02 Brazil TMT XS0902317071 20'883'707 5000 AAA Aaa BRL 6.000 A Intl Bk Recon & Develop 15.03.13 15.09.16 2.5 91.01 9.56 SNAT Sovereign-linked Entity US05957PAN69 3'269'305 5000 / 1000 Baa1 BRL 9.750 S Banco Do Brasil (Vs Usd) 18.07.07 18.07.17 3.1 98.88 10.10 Brazil Financial USG6710EAN07 21'212'929 300000 / 1000 BBB- Baa3 BRL 8.250 S Odebrecht Finance Ltd 25.04.13 25.04.18 3.6 87.68 11.77 Brazil Industrial USP1905CAC49 21'436'893 300000 / 1000 BBB- Baa3 BRL 7.750 S Brf Sa 22.05.13 22.05.18 3.6 83.00 12.64 Brazil Consumer US105756BL31 2'698'066 250000 / 1000 BBB Baa2 BRL 12.500 S Brazil (Vs Usd) 13.09.06 05.01.22 5.2 112.76 10.18 Brazil Government US105756BN96 2'925'440 250000 / 1000 BBB Baa2 BRL 10.250 S Brazil (Vs Usd) 14.02.07 10.01.28 7.3 98.83 10.40 Brazil Government

XS0762540366 18'218'501 1000000 A A2 CNY 4.550 S Raiffeisen Bank Intl 23.03.12 23.03.14 0.5 100.74 3.17 Austria Financial HK0000077922 12'744'479 1000000 / 100000 A- CNY 2.000 S Orix Corp 24.03.11 24.03.14 0.5 99.49 2.94 Japan Financial XS0825401994 19'387'695 1000000 / 10000 A A2 CNY 3.500 S Abn Amro Bank Nv 05.09.12 05.09.14 1.0 100.46 3.03 Netherlands Financial FR0011215359 18'111'563 1000000 BBB Baa3 CNY 4.250 S Alstom 09.03.12 09.03.15 1.4 101.76 3.05 France Industrial XS0755916672 18'126'776 1000000 / 10000 Baa1 CNY 4.875 S Emirates Nbd Pjsc 12.03.12 12.03.15 1.4 102.44 3.21 UAE Financial XS0773551972 18'441'618 10000 AA- Aa3 CNY 2.875 S Hsbc Bank Plc 30.04.12 30.04.15 1.6 100.49 2.57 United Kingdom Financial SG56G9993465 21'524'889 1000000 / 10000 AA- Aa2 CNY 2.250 S Hsbc/Singapore 05.06.13 05.06.15 1.7 99.24 2.70 United Kingdom Financial XS0942221762 21'675'293 1000000 / 500000 A A2 CNY 3.250 S Caterpillar Financial Se 26.06.13 26.06.15 1.7 100.80 2.79 USA Financial XS0831918056 19'552'945 1000000 / 10000 BBB- Baa2 CNY 4.900 S Icici Bank Ltd/Singapore 21.09.12 21.09.15 1.9 100.91 4.43 India Financial XS0847441317 19'852'340 1000000 / 100000 BBB Baa2 CNY 4.500 S Vtb Bank (Vtb Capital Sa 30.10.12 30.10.15 2.0 100.91 4.05 Russia Financial XS0857433097 20'053'648 1000000 / 10000 BBB Baa2 CNY 3.800 S Volvo Treasury Ab 22.11.12 22.11.15 2.1 100.75 3.44 Sweden Automaker HK0000130937 20'105'764 1000000 / 10000 CNY 3.200 S Agricultural Bank China 28.11.12 28.11.15 2.1 100.13 3.14 China Financial XS0864227276 20'205'045 1000000 / 10000 AA- Aa3 CNY 3.550 S Corp Andina De Fomento 12.12.12 12.12.15 2.2 100.71 3.22 SNAT Sovereign-linked Entity XS0873816259 20'422'646 1000000 / 10000 AA- Aa3 CNY 3.000 S Svenska Handelsbanken Ab 15.01.13 15.01.16 2.3 99.91 3.04 Sweden Financial XS0880258651 20'549'522 1000000 / 500000 BBB- CNY 4.000 S Noble Group Ltd 30.01.13 30.01.16 2.3 100.25 3.89 Hong Kong Industrial HK0000138237 20'549'522 1000000 / 10000 Baa3 CNY 3.600 S Ojsc Russ Agric Bk(Rshb) 04.02.13 04.02.16 2.3 98.80 4.13 Russia Financial XS0888100319 20'647'921 1000000 / 100000 BBB- Baa3 CNY 4.000 S Gpb Eurobond Finance 19.02.13 24.02.16 2.3 100.06 3.98 Russia Financial XS0907930399 20'996'823 1000000 / 10000 Baa3 CNY 4.100 S Banco Btg Pactual/Cayman 26.03.13 26.03.16 2.3 96.55 5.56 Brazil Financial FR0011459874 21'046'077 1000000 BB+ Ba1 CNY 4.650 S Renault S.A. 11.04.13 11.04.16 2.4 99.79 4.73 France Automaker XS0628622622 13'050'145 1000000 A- A3 CNY 2.150 S Volkswagen Intl Fin Nv 23.05.11 23.05.16 2.6 98.11 2.88 Germany Automaker SG56H0993470 21'515'246 1000000 / 1000 A+ A2 CNY 2.625 S Standard Chartered Plc 31.05.13 31.05.16 2.6 98.76 3.10 United Kingdom Financial HK0000152543 21'535'581 1000000 / 10000 CNY 3.875 S Eastern Air Overseas Hk 05.06.13 05.06.16 2.6 100.15 3.82 China Consumer XS0946772976 21'688'732 1000000 / 10000 BBB- Baa2 CNY 4.000 S Icici Bank Ltd/Dubai 25.06.13 25.06.16 2.6 99.56 4.17 India Financial HK0000088796 13'845'988 1000000 / 10000 A CNY 3.000 S Air Liquide Finance 19.09.11 19.09.16 2.8 99.71 3.10 France Basic Materials

XS0495010562 11'121'341 50000 AAA Aaa INR 3.000 A Inter-American Devel Bk 25.03.10 25.03.14 0.5 96.20 10.14 SNAT Sovereign-linked Entity XS0632507322 13'096'238 100000 / 50000 NR INR 5.250 A European Bk Recon & Dev 06.06.11 06.06.14 0.7 97.00 9.40 SNAT Sovereign-linked Entity

XS0242351657 2'421'272 1000 AAA Aaa MXN 8.000 S Inter-American Devel Bk 26.01.06 26.01.16 2.2 109.50 3.86 SNAT Sovereign-linked Entity XS0583056691 12'356'131 10000 AAA Aaa MXN 6.000 A Intl Finance Corp 28.01.11 28.01.16 2.2 104.95 3.79 SNAT Sovereign-linked Entity XS0244595863 2'447'344 1000 AAA Aaa MXN 8.500 A Landwirtsch. Rentenbank 22.02.06 22.02.16 2.2 110.23 4.04 Germany Financial XS0877790765 20'482'105 10000 AA- Aa2 MXN 4.625 A  Rabobank Nederland 23.01.13 23.01.17 3.0 99.38 4.82 Netherlands Financial XS0927127372 21'299'093 25000 AA+ A1 MXN 4.125 A General Elec Cap Corp 15.05.13 15.05.17 3.3 98.23 4.65 USA Financial

XS0553072611 11'929'719 2500000 / 100000 BB+ Ba1 RUB 7.875 S Rushydro (Rushydro Fin L 28.10.10 28.10.15 1.8 99.45 8.32 Russia Utilities XS0833264335 19'607'337 5000000 / 100000 Baa3 RUB 8.617 S Gazprombk (Gpb Finance) 25.09.12 15.12.15 2.0 101.08 8.08 Russia Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. LOCAL CURRENCIES BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ DUR ADJ ASK PX ASKyld true grossULT_PARENT_CNTRY_OF_RISK ask ISSUER INDUSTRY ISIN Min./ Incr. Rating Rating Coupon Modified Ind. Ask Valoren Ccy Freq. Name Issue Date Maturity Yield % Country Sector Number Trad. Unit S & P Moody's % Duration Price %

XS0868348987 20'276'078 5000000 / 100000 A A2 RUB 7.500 S Caterpillar Intl Fin Ltd 20.12.12 20.12.15 2.0 100.90 7.06 USA Financial XS0882561821 20'558'225 5000000 / 100000 Baa1 RUB 7.000 S Sberbank (Sb Cap Sa) 31.01.13 31.01.16 2.2 100.22 6.89 Russia Financial XS0922142574 21'225'579 5000000 / 100000 BB+ Ba1 RUB 8.625 S Alfa Bank (Alfa Bond) 26.04.13 26.04.16 2.2 99.55 8.81 Luxembourg Financial XS0877983642 20'485'065 5000000 / 100000 BBB- Baa3 RUB 7.875 S Gazprombk (Gpb Finance) 24.01.13 25.07.16 2.5 98.77 8.36 Russia Financial XS0837020014 19'714'488 5000000 / 100000 BBB A3 RUB 8.000 S Eurasian Development Ban 05.10.12 05.10.17 3.3 100.51 7.85 Russia Sovereign-linked Entity XS0884734343 20'594'904 5000000 / 100000 Baa3 RUB 7.875 S Ojsc Russ Agric Bk(Rshb) 07.02.13 07.02.18 3.6 97.11 8.67 Russia Financial XS0889402029 20'672'039 5000000 / 100000 BB Ba3 RUB 9.000 S Vimpelcom Hldgs 13.02.13 13.02.18 3.6 100.76 8.79 Russia TMT XS0564087541 12'514'821 5000000 BBB+ Baa1 RUB 7.850 S Russia Foreign Bond 10.03.11 10.03.18 3.6 103.65 6.89 Russia Government XS0863439161 20'205'050 5000000 / 100000 BBB Baa3 RUB 8.446 S Fed Grid Co Ojsc Fed Fin 13.12.12 13.03.19 4.2 98.38 8.82 Russia

XS0185365524 1'782'130 250000 A- Baa2 SGD 4.100 S Merrill Lynch & Co 04.02.04 04.02.14 0.4 101.44 0.59 USA Financial XS0544939167 11'796'187 250000 A A3 SGD 2.850 S  Royal Bk Of Scotland Plc 29.09.10 31.03.14 0.6 100.98 1.09 United Kingdom Financial XS0752608652 18'084'389 250000 BB+ SGD 4.000 S Aviation Capital Group 02.03.12 02.03.15 1.4 100.38 3.75 USA Transportation XS0807340699 19'056'549 250000 BBB Baa2 SGD 4.000 S  Vtb Bank (Vtb Capital Sa 20.07.12 20.07.15 1.8 102.13 2.82 Russia Financial XS0585780884 12'398'878 250000 / 1000 A- Baa1 SGD 3.800 S Morgan Stanley 31.01.11 29.01.16 2.3 102.62 2.66 USA Financial XS0704544591 14'269'754 250000 SGD 3.865 S Henderson Land Mtn S 11.11.11 11.11.16 Hong Kong Real Estate XS0561857805 12'784'785 250000 A+ Aa2 SGD 3.450 S C United Overseas Bank Ltd 01.04.11 01.04.21 2.4 101.84 2.96 Singapore Financial XS0841678278 19'755'417 250000 / 1000 Baa3 SGD 4.100 S Indian Oil Corp Ltd 15.10.12 15.10.22 7.3 89.28 5.62 India Energy SG6X10986208 19'837'886 250000 SGD 6.000 S Olam International Ltd 25.10.12 25.10.22 6.6 89.48 7.62 Singapore Consumer SG55G7992081 21'275'765 250000 SGD 4.950 S Abja Investment Co 03.05.13 03.05.23 7.1 82.40 7.54 India Basic Materials

XS0477880057 10'890'163 1000 AAA Aaa TRY 10.000 A European Investment Bank 20.01.10 20.01.14 0.4 100.63 7.78 SNAT Sovereign-linked Entity XS0458474383 10'661'016 1000 AA- Aa2 TRY 9.500 A Rabobank Nederland 22.10.09 22.01.14 0.4 100.26 8.31 Netherlands Financial XS0580494689 12'331'684 1000 AAA Aaa TRY 6.750 A European Investment Bank 25.01.11 25.07.14 0.8 99.00 7.90 SNAT Sovereign-linked Entity XS0580501210 12'331'681 1000 AAA Aaa TRY 7.250 A European Investment Bank 25.01.11 25.01.16 2.0 97.91 8.22 SNAT Sovereign-linked Entity XS0875472309 20'434'091 5000 / 1000 NR TRY 5.500 A Swedish Export Credit 23.01.13 23.01.17 2.8 90.24 8.95 Sweden Financial XS0916811374 21'135'674 2000 AA+ A1 TRY 6.000 A General Elec Cap Corp 18.04.13 18.04.17 3.0 91.38 8.87 USA Financial XS0885922475 20'602'536 1000 AA- Aa2 TRY 6.125 A Rabobank Nederland 14.02.13 02.05.17 3.0 90.99 9.09 Netherlands Financial XS0884723148 20'602'536 300000 / 1000 Baa2 TRY 7.500 S Akbank Tas 05.02.13 05.02.18 3.6 88.72 10.77 Turkey Financial XS0895805876 20'776'526 1000 AAA Aaa TRY 5.625 A Landwirtsch. Rentenbank 27.02.13 27.02.18 3.6 88.85 8.72 Germany Financial XS0897427570 20'802'537 300000 / 1000 Baa1 TRY 7.400 S Sberbank (Sb Cap Sa) 04.03.13 04.03.18 3.7 89.39 10.41 Russia Financial XS0898745210 20'847'862 300000 / 1000 Baa2 TRY 7.375 S Turkiye Garanti Bankasi 07.03.13 07.03.18 3.5 88.03 10.80 Turkey Financial

XS0222802877 2'191'949 1000 AAA Aaa ZAR 7.500 A Kfw 22.06.05 22.06.15 1.6 102.25 6.12 Germany Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. FLOATER BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ MATURITY PX ASKDISC_MRGN_ASKULT_PARENT_CNTRY_OF_RISKISSUER INDUSTRY ISIN Min./ Incr. Rating Rating Coupon Ind. Ask Discount Valoren Ccy Freq. Name Maturity Country Sector Number Trad. Unit S & P Moody's % Price % Margin

AU3FN0012704 12'634'799 10000 A A3 AUD 4.721 Q Royal Bk Of Scotland/Au (3M Aud +195Bp) 10.03.14 100.66 65.53 United Kingdom Financial AU3FN0014858 14'788'693 10000 A+ Aa3 AUD 5.760 Q Industrial Bank Of Korea (3M Aud +180Bp) 27.01.15 102.46 124.33 Korea Financial AU3FN0015194 18'433'974 200000 / 10000 A+ A1 AUD 4.241 Q Suncorp-Metway Ltd (3M Aud +150Bp) 23.04.15 101.34 66.73 Australia Financial AU3FN0013199 13'059'742 200000 / 2000 A- Baa1 AUD 4.399 Q Morgan Stanley (3M Aud +180Bp) 26.05.15 101.11 113.63 USA Financial AU3FN0015061 18'210'050 150000 / 50000 A+ A2 AUD 5.319 Q Ing Bank Nv/Sydney (3M Aud +250Bp) 22.03.16 103.49 105.83 Netherlands Financial AU3FN0019220 21'524'961 200000 / 10000 A+ Aa3 AUD 3.830 Q Korea Finance Corp (3M Aud +127Bp) 05.06.17 99.81 132.53 Korea Financial AU3FN0019899 22'116'219 1000 AA- Aa2 AUD 3.452 Q Aust & Nz Banking Group (3M Aud +85Bp) 16.08.17 100.19 79.88 Australia Financial AU3FN0020012 22'188'402 1000 AA- Aa2 AUD 3.443 Q National Australia Bank (3M Aud +85Bp) 28.08.17 100.11 82.17 Australia Financial AU3FN0017737 20'524'628 10000 AA+ A1 AUD 3.920 Q Ge Cap Australia Funding (3M Aud +120Bp) 30.01.18 100.51 107.57 USA Financial AU3FN0019063 21'413'242 10000 A- Baa2 AUD 4.009 Q Bank Of America Corp (3M Aud +142Bp) 23.08.18 99.87 145.00 USA Financial AU3FN0013124 12'980'524 100000 / 10000 BBB Baa2 AUD 6.350 Q C Bank Of Queensland Ltd (3M Aud +375Bp) 10.05.21 102.42 333.50 Australia Financial

CH0135605043 13'560'504 5000 AAA Aaa CHF 0.426 Q Cie Financement Foncier (3M Chf +41Bp) 08.09.14 100.13 28.13 France Financial CH0180981364 18'098'136 5000 AA- Aa3 CHF 1.119 Q Bnz International Fndng (3M Chf +110Bp) 27.03.15 101.78 -2.41 Australia Financial CH0184250253 18'425'025 5000 A- A2 CHF 1.268 Q Republic Of Poland (3M Chf +125Bp) 14.08.15 101.87 29.92 Poland Government CH0216215167 21'621'516 5000 A+ Aa3 CHF 0.620 Q Banco De Chile (3M Chf +60Bp) 18.07.16 100.33 48.51 Chile Financial CH0208991957 20'899'195 5000 Aa3 CHF 1.019 Q Banco Santander Chile (3M Chf +100Bp) 28.03.17 100.17 95.37 Spain Financial XS0804458817 19'034'478 150000 / 1000 BB- WR CHF Q Sunrise Communications I (3M Chf +550Bp) 31.12.17 #N/A N/A Switzerland TMT

XS0614132438 12'806'806 100000 / 1000 AA- Aa2 EUR 0.722 Q National Australia Bank (3M Eur +50Bp) 07.04.14 100.34 -5.28 Australia Financial BE0000322314 12'480'348 0.01 Aa3 EUR 0.825 Q Belgium Kingdom (3M Eur +60Bp) 15.02.16 101.35 5.51 Belgium Government XS0804458064 19'034'476 100000 / 1000 BB- Ba3 EUR 4.969 Q Sunrise Communications I (3M Eur +475Bp) 31.12.17 102.08 422.50 Switzerland TMT XS0922256580 21'235'630 100000 / 1000 BB- Ba3 EUR 5.476 Q C  Wind Acquisition Fin Sa (3M Eur +525Bp) 30.04.19 101.03 504.26 Italy TMT XS0744127936 14'942'332 100000 / 1000 B+ B1 EUR 5.475 Q Matterhorn Mobile Sa (3M Eur +525Bp) 15.05.19 102.48 475.34 United Kingdom TMT XS0956139264 21'989'521 100000 / 1000 BB- Ba3 EUR 4.477 Q Picard Groupe Sa (3M Eur +425Bp) 01.08.19 101.85 390.11 United Kingdom Consumer

XS0699843982 14'233'484 100000 / 1000 AA- Aa2 GBP 1.609 Q Aust & Nz Banking Group (3M Gbp +110Bp) 31.10.14 101.17 8.48 Australia Financial

XS0940437436 21'527'866 1000000 / 100000 SEK 2.920 Q Arla Foods Finance (3M Sek +170Bp) 04.06.18 100.37 161.67 Danemark Consumer

US05567LS572 12'275'800 1000 A+ A2 USD 1.169 Q Bnp Paribas (3M Lib +90Bp) 10.01.14 101.50 -332.60 France Financial US22532MAE21 12'335'948 200000 / 1000 A A2 USD 1.716 Q Credit Agricole London (3M Lib +145Bp) 21.01.14 100.49 17.21 France Financial US539473AK43 12'390'130 1000 A A2 USD 2.615 Q Lloyds Tsb Bank Plc (3M Lib +235Bp) 24.01.14 100.87 12.91 United Kingdom Financial XS0588430164 12'428'091 200000 / 1000 A A2 USD 2.035 Q Abn Amro Bank Nv (3M Lib +177Bp) 30.01.14 100.77 -11.51 Netherlands Financial US06051GEF28 12'412'486 5000 A- Baa2 USD 1.685 Q Bank Of America Corp (3M Lib +142Bp) 30.01.14 100.55 8.16 USA Financial USF11494AJ45 12'433'226 100000 / 1000 A A2 USD 2.015 Q Bpce Sa (3M Lib +175Bp) 07.02.14 100.67 19.94 France Financial US055451AM02 18'050'745 2000 / 1000 A+ A1 USD 0.533 Q Bhp Billiton Fin Usa Ltd (3M Lib +27Bp) 18.02.14 100.11 4.87 Australia Basic Materials XS0763676714 18'233'760 100000 / 1000 A- A3 USD 1.022 Q Volkswagen Intl Fin Nv (3M Lib +75Bp) 21.03.14 100.39 6.61 Germany Automaker US06675EAD22 12'783'713 2000 / 1000 BB+ Ba1 USD 2.174 Q Banque Psa Finance (3M Lib +190Bp) 04.04.14 100.25 148.36 France Financial USU2339CAV01 18'344'522 150000 / 1000 A- A3 USD 1.049 Q Daimler Finance Na Llc (3M Lib +78Bp) 10.04.14 100.35 20.59 Germany Automaker US002799AH77 12'916'108 1000 A A2 USD 1.844 Q Abbey Natl Treasury Serv (3M Lib +158Bp) 25.04.14 100.85 29.51 Spain Financial US06366QGN16 12'930'168 2000 / 1000 A+ Aa3 USD 0.734 Q Bank Of Montreal (3M Lib +47Bp) 29.04.14 100.32 -1.27 Canada Financial USN4578BPZ14 13'138'252 200000 / 1000 A+ A2 USD 1.674 Q Ing Bank Nv (3M Lib +140Bp) 09.06.14 100.96 15.53 Netherlands Financial XS0643683971 13'256'979 200000 / 1000 BB Ba3 USD 4.276 Q  Vimpelcom Hldgs (3M Lib +400Bp) 29.06.14 102.01 156.02 Netherlands TMT US03523TBK34 13'350'564 1000 A A3 USD 0.628 Q Anheuser-Busch Inbev Wor (3M Lib +36Bp) 14.07.14 100.23 10.97 Belgium Consumer US89114QAC24 13'350'556 2000 / 1000 AA- Aa1 USD 0.568 Q Toronto-Dominion Bank (3M Lib +30Bp) 14.07.14 100.23 4.49 Canada Financial XS0443728869 10'414'224 1000 AAA Aaa USD 0.406 Q Kfw (3M Lib +14Bp) 05.08.14 100.32 -20.12 Germany Financial US05567L3Q81 14'436'771 1000 A+ A2 USD 3.022 Q Bnp Paribas (3M Lib +275Bp) 20.12.14 103.35 18.65 France Financial US00254ELN03 19'174'239 2000 / 1000 AA+ Aa1 USD 0.747 Q Swedish Export Credit (3M Lib +48Bp) 06.08.15 100.84 5.02 Sweden Financial US92857WBB54 20'696'574 1000 A- A3 USD 0.648 Q Vodafone Group Plc (3M Lib +38.5Bp) 19.02.16 100.00 38.67 United Kingdom TMT US61746BDH69 20'776'777 1000 A- Baa1 USD 1.512 Q Morgan Stanley (3M Lib +125Bp) 25.02.16 100.78 93.50 USA Financial

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. FLOATER BOND SELECTION (Subject to Liquidity Issue) CRNCY CPN_FREQ MATURITY PX ASKDISC_MRGN_ASKULT_PARENT_CNTRY_OF_RISKISSUER INDUSTRY ISIN Min./ Incr. Rating Rating Coupon Ind. Ask Discount Valoren Ccy Freq. Name Maturity Country Sector Number Trad. Unit S & P Moody's % Price % Margin

USJ0423YBD51 20'761'893 200000 / 1000 A+ Aa3 USD 0.712 Q Bk Tokyo-Mitsubishi Ufj (3M Lib +45Bp) 26.02.16 99.99 45.59 Japan Financial US22532MAG78 21'145'201 200000 / 1000 A A2 USD 1.428 Q Credit Agricole London (3M Lib + 116Bp) 15.04.16 101.12 73.50 France Financial US71647NAD12 21'412'788 2000 / 1000 BBB A3 USD 1.884 Q Petrobras Global Finance (3M Lib +162Bp) 20.05.16 99.45 182.80 Brazil Energy US865622BB91 21'892'851 250000 / 1000 A+ Aa3 USD 0.936 Q Sumitomo Mitsui Banking (3M Lib + 67Bp) 19.07.16 100.58 46.98 Japan Financial US71656MAT62 21'901'044 10000 / 1000 BBB Baa1 USD 2.286 Q Petroleos Mexicanos (3M Lib + 202Bp) 18.07.18 103.40 130.48 Mexico Energy US89153VAH24 22'072'398 2000 / 1000 AA- Aa1 USD 0.835 Q Total Capital Intl Sa (3M Lib +57Bp) 10.08.18 100.34 50.01 France Energy US71647NAE94 21'412'792 2000 / 1000 BBB A3 USD 2.408 Q Petrobras Global Finance (3M Lib +214Bp) 15.01.19 98.28 248.39 Brazil Energy

C = Callable - P=Putable -= FAVORITES - PRIMARY MARKET - GLOBAL BONDS (Restricted for U.S. persons) 02-Sep-13 This document is not considered as a financial analysis regarding the SBA directives aiming to guarantee the financial analysis independence. Therefore these directives do not apply to it. By addressing to the Bank instructions relating to any instrument described herein, the clients represents and warrants in particular having sufficient knowledge and experience in financial matters to assess the related advantages and risks (solely or with the assistance of his own financial, legal and tax advisers), taking into account his objectives and his personal, financial and tax situation, having carried out such an evaluation, even if the operation was the subject of a preliminary advice from the Bank, understood the nature and scope of the related risks and accepted to fully assume such risks. RECENT CHANGES TO BOND UNIVERS / FAVORITES ISIN Valoren Name Coupon Maturity Action Date Number

USG21555AA88 3110213 Citic Resources Fin 2007 6.750 15.05.2014 In 03.06.2013 XS0921331509 21487138 Mts Intl Funding Ltd 5.000 30.05.2023 Out 03.06.2013 XS0919504562 21212979 Lukoil Intl Finance Bv 4.563 24.04.2023 Out 03.06.2013 XS0919502434 21212978 Lukoil Intl Finance Bv 3.416 24.04.2018 In 03.06.2013 USU75888AA26 11891783 Reliance Holdings Usa 4.500 19.10.2020 Out 03.06.2013 XS0800825845 18939022 Maf Global Securities 5.250 05.07.2019 Out 03.06.2013 XS0847042024 19871722 Turkiye Is Bankasi A.S 6.000 24.10.2022 Out 03.06.2013 XS0806482948 19049522 Turkiye Halk Bankasi 4.875 19.07.2017 Out 03.06.2013 XS0923613060 21256755 Schaeffler Finance Bv 4.250 15.05.2018 Out 03.06.2013 USG4690AAB38 19976585 Hutch Whampoa Int 12 Ii 3.250 08.11.2022 Out 03.06.2013 USC71058AB42 14486354 Pacific Rubiales Energy 7.250 12.12.2021 Out 03.06.2013 USG6710EAK67 18901037 Odebrecht Finance Ltd 5.125 26.06.2022 Out 03.06.2013 US92936MAC10 19433485 Wpp Finance 2010 3.625 07.09.2022 Out 03.06.2013 US19122TAE91 13649793 Coca-Cola Enterprises 3.250 19.08.2021 Out 07.06.2013 US76720AAC09 18229967 Rio Tinto Fin Usa Plc 3.500 22.03.2022 Out 07.06.2013 US91324PBZ45 19861290 Unitedhealth Group Inc 2.750 15.02.2023 Out 07.06.2013 XS0508553764 11292793 Ineos Finance Plc 9.250 15.05.2015 Out 07.06.2013 XS0841882128 19753119 Bre Finance France Sa 2.750 12.10.2015 Out 07.06.2013 US620076BB42 18574971 Motorola Solutions Inc 3.750 15.05.2022 Out 07.06.2013 XS0941073420 21556088 Novalis Sas 6.000 15.06.2018 In 07.06.2013 XS0618905219 12909603 Evraz Group Sa 6.750 27.04.2018 Out 07.06.2013 XS0832412505 19616041 Alfa Bank (Alfa Bond) 7.500 26.09.2019 Out 07.06.2013 XS0920864708 21275717 Parkson Retail Group 4.500 03.05.2018 In 07.06.2013 USM0300LAA46 11546842 Akbank Tas 5.125 22.07.2015 Out 10.06.2013 XS0524202610 11848290 Yapi(Unicredit Luxemb) 5.188 13.10.2015 Out 10.06.2013 XS0808632250 21089515 Turkiye Is Bankasi A.S 3.750 10.10.2018 Out 10.06.2013 DE000A1R0XG3 20119995 Basf Se 2.000 05.12.2022 Out 10.06.2013 USF12033AZ33 18717512 Danone 3.000 15.06.2022 Out 10.06.2013 USF42768GM14 19736374 Gdf Suez 2.875 10.10.2022 Out 10.06.2013 US36962G6S82 20384170 General Elec Cap Corp 3.100 09.01.2023 Out 10.06.2013 XS0791007734 18749133 Compagnie De St Gobain 3.625 15.06.2021 Out 10.06.2013 XS0858366098 20080810 European Investment Bank 1.375 15.09.2020 Out 10.06.2013 xs0191752434 1850306 Bank Of America Corp 4.750 06.05.2019 In 10.06.2013 XS0920864708 21275717 Parkson Retail Group 4.500 03.05.2018 Out 14.06.2013 XS0843919480 19803201 Sm Investments Corp 4.250 17.10.2019 Out 14.06.2013 USP7700WCG35 21497120 Grupo Famsa Sa De Cv 7.250 01.06.2020 Out 14.06.2013 XS0494933806 11118088 Alfa Mtn Issuance Ltd 8.000 18.03.2015 In 14.06.2013 USG9328DAE07 4358909 Vedanta Resources Plc 8.750 15.01.2014 In 14.06.2013 USG9328DAH38 21487052 Vedanta Resources Plc 6.000 31.01.2019 Out 14.06.2013 XS0499245180 11176367 Rzd Capital Plc (Rzd) 5.739 03.04.2017 In 14.06.2013 FR0011223692 18216575 Mercialys Sa 4.125 26.03.2019 Out 14.06.2013 FR0011215508 18112491 Casino Guichard Perracho 3.994 09.03.2020 Out 14.06.2013 USL20041AB24 20908942 Cosan Luxembourg Sa 9.500 14.03.2018 Out 14.06.2013 USL20041AA41 20908889 Cosan Luxembourg Sa 5.000 14.03.2023 Out 14.06.2013 USG6710EAF72 11736504 Odebrecht Finance Ltd 7.500 Out 14.06.2013 XS0897453493 20819644 Adcb Finance Cayman Ltd 4.500 06.03.2023 Out 24.06.2013 XS0910935021 21034299 Emirates Nbd Pjsc 4.875 28.03.2023 In 24.06.2013 USL7877XAA74 19976580 Qgog Constellation Sa 6.250 09.11.2019 Out 24.06.2013 FR0011242460 18440227 Galeries Lafayette 4.750 26.04.2019 Out 24.06.2013 XS0800825845 18939022 Maf Global Securities 5.250 05.07.2019 In 24.06.2013 USP47773AM11 18460209 Globo Communicacoes Part 5.307 11.05.2022 Out 24.06.2013 US6325C1BC26 11783706 National Australia Bank 2.750 28.09.2015 Out 01.07.2013 XS0346402463 3771572 Ote Plc 7.250 12.02.2015 In 01.07.2013 XS0552915943 11928411 Bombardier Inc 6.125 15.05.2021 Out 01.07.2013 USG4673GAA34 14726867 Hutch Whampoa Int 11 Ltd 3.500 13.01.2017 Out 01.07.2013 US45112FAB22 13074684 Icici Bank Ltd/Dubai 4.750 25.11.2016 In 01.07.2013 US50065XAB01 14152527 Korea National Oil Corp 4.000 27.10.2016 Out 01.07.2013 XS0885065887 20620810 Emirates Airlines 4.500 06.02.2025 Out 01.07.2013 XS0904232310 20948102 Medjool Ltd 3.875 19.03.2023 In 01.07.2013 XS0742399198 14903772 Maf Sukuk Ltd 5.850 07.02.2017 In 01.07.2013 XS0551313686 11892344 Dubai Electricity & Wate 7.375 21.10.2020 In 01.07.2013 USM28368AB04 14963767 Dolphin Energy Ltd 5.500 15.12.2021 In 01.07.2013 XS0767862914 18308152 Saudi Electricity Global 4.211 03.04.2022 In 01.07.2013 RECENT CHANGES TO BOND UNIVERS / FAVORITES ISIN Valoren Name Coupon Maturity Action Date Number

XS0765257141 18256267 Emirates Nbd Pjsc 4.625 28.03.2017 In 01.07.2013 US46556MAF95 18171465 Itau Unibanco Hldg Sa/Ky 5.650 19.03.2022 Out 01.07.2013 US46556MAA09 11213134 Itau Unibanco Hldg Sa/Ky 6.200 15.04.2020 In 01.07.2013 XS0743603358 14916990 Franz Haniel & Cie Gmbh 6.250 08.02.2018 In 05.07.2013 XS0934113076 21433236 Gunvor Group Ltd 5.875 21.05.2018 In 05.07.2013 USF0609NAP36 2837472 Axa Sa 6.463 Out 05.07.2013 FR0010289496 2442979 Vinci Sa 6.250 In 05.07.2013 XS0347919457 10279779 Standard Chartered Bank 9.500 Out 15.07.2013 XS0619706657 12886008 Red Electrica Fin Sa Uni 4.875 29.04.2020 Out 15.07.2013 XS0875343757 20434061 Gas Natural Fenosa Finan 3.875 17.01.2023 Out 15.07.2013 USG4721SAQ42 10541826 Iberdrola Fin Ireland 5.000 11.09.2019 Out 15.07.2013 XS0767862914 18308152 Saudi Electricity Global 4.211 03.04.2022 Out 15.07.2013 XS0840538994 19722606 First Gulf Bank 2.862 09.10.2017 Out 15.07.2013 XS0767977811 18309495 Iberdrola Intl Bv 4.250 11.10.2018 Out 22.07.2013 XS0955552178 21942319 Banco Do Brasil 3.750 25.07.2018 In 22.07.2013 USP14486AA54 917673 Banco Nac De Desen Econo 6.369 16.06.2018 In 22.07.2013 US302154BA68 13831122 Export-Import Bk Korea 4.375 15.09.2021 Out 22.07.2013 XS0910935021 21034299 Emirates Nbd Pjsc 4.875 28.03.2023 Out 22.07.2013 XS0923450414 21242298 Qnb Finance Ltd 2.875 29.04.2020 Out 22.07.2013 XS0903872355 20910498 Koninklijke Kpn Nv 6.125 In 29.07.2013 XS0499245180 11176367 Rzd Capital Plc (Rzd) 5.739 03.04.2017 Out 29.07.2013 US45112FAC05 19289158 Icici Bank Ltd/Dubai 4.700 21.02.2018 In 05.08.2013 US46556MAA09 11213134 Itau Unibanco Hldg Sa/Ky 6.200 15.04.2020 Out 05.08.2013 USP7700WCG35 21497120 Grupo Famsa Sa De Cv 7.250 01.06.2020 In 05.08.2013 US02364WBD65 19009210 America Movil Sab De Cv 3.125 16.07.2022 Out 05.08.2013 US45112FAB22 13074684 Icici Bank Ltd/Dubai 4.750 25.11.2016 Out 05.08.2013 US45112FAC05 19289158 Icici Bank Ltd/Dubai 4.700 21.02.2018 Out 05.08.2013 XS0919502434 21212978 Lukoil Intl Finance Bv 3.416 24.04.2018 Out 05.08.2013 FR0010957274 11928936 Peugeot Sa 4.000 28.10.2013 Out 05.08.2013 FR0011321447 19495212 Renault S.A. 4.625 18.09.2017 Out 05.08.2013 XS0588436799 12424759 Novatek(Novatek Fin Ltd) 5.326 03.02.2016 In 12.08.2013 XS0587030957 12413907 Vimpelcom (Vip Fin) 6.493 02.02.2016 In 12.08.2013 XS0903872355 20910498 Koninklijke Kpn Nv 6.125 Out 12.08.2013 US87927VAQ14 2288838 Telecom Italia Capital 5.250 01.10.2015 In 12.08.2013 USP2253TJD20 22072420 Cemex Sab De Cv 6.500 10.12.2019 In 12.08.2013 FR0010871376 11127122 Pernod-Ricard Sa 4.875 18.03.2016 Out 16.08.2013 XS0743603358 14916990 Franz Haniel & Cie Gmbh 6.250 08.02.2018 Out 16.08.2013 XS0877720986 20558224 Telekom Austria Ag 5.625 In 16.08.2013 XS0544395808 11796153 Picard Bondco 9.000 01.10.2018 In 16.08.2013 XS0275776283 2791816 Ote Plc 4.625 20.05.2016 In 16.08.2013 USY3860XAB92 11523006 In 23.08.2013 USF0819HE376 12784797 In 23.08.2013