Common use of DEPOSITABLE FINANCIAL INSTRUMENTS Clause in Contracts

DEPOSITABLE FINANCIAL INSTRUMENTS. Depositable securities are those Government securities traded on MTS market issued by the countries and of the types indicated in the following table: BTi Italian Indexed Govt Bonds ITA BOT Italian Treasury Certificates ITA BTP Italian Govt Bonds ITA CTZ Italian Zero Coupon Govt Bonds ITA CCT Italian Floating Rate Govt Bonds ITA ATS Austrian Govt Bonds AT OLO Belgian Govt Bonds BE BFR Belgian Floating Rate BE BTC Belgian Treasury Certificates BE RGF Finnish Govt Bonds FI BNI French Indexed BTAN bonds FR BTAN French Govt Bonds Short Paper FR OAT French Govt Bonds Long Paper FR FTB French Treasury Bills FR OAI French Indexed Govt Bonds FR GIL Inflation Linked Bonds DE DEM German Govt Bonds DE GTC German Treasury Certificates DE IRL Irish Govt Bonds IR ITB Irish Treasury Bills IR DSL Dutch Govt Bonds NL DTC Dutch Treasury Certificates NL ESF Spanish Floater Bonds ES BON Spanish Govt Bonds Short Paper ES OBE Spanish Govt Bonds Long Paper ES LET Spanish Treausury Bills ES SIL Spanish Inflation linked Bonds ES PTC Portugal Zero Coupon Govt Bonds PT PTE Portugal Govt Bonds PT CC&G also accepts as collateral the BTP Italia (Italian Governement Bond linked to italian inflation) traded on markets other than MTS. CC&G reserves the right to modify the list above for reasons of risk management, with urgent Notice distributed through its website xxx.xxxx.xxx/xxx.

DEPOSITABLE FINANCIAL INSTRUMENTS. Depositable securities are those Government securities traded on MTS market issued by the countries and of the types indicated in the following table: BTi Italian Indexed Govt Bonds ITA BOT Italian Treasury Certificates ITA BTP Italian Govt Bonds ITA CTZ Italian Zero Coupon Govt Bonds ITA CCT Italian Floating Rate Govt Bonds ITA ATS Austrian Govt Bonds AT OLO Belgian Govt Bonds BE BFR Belgian Floating Rate BE BTC Belgian Treasury Certificates BE RGF Finnish Govt Bonds FI BNI French Indexed BTAN bonds FR BTAN French Govt Bonds Short Paper FR OAT French Govt Bonds Long Paper FR FTB French Treasury Bills FR OAI French Indexed Govt Bonds FR GIL Inflation Linked Bonds DE DEM German Govt Bonds DE GTC German Treasury Certificates DE IRL Irish Govt Bonds IR ITB Irish Treasury Bills IR DSL Dutch Govt Bonds NL DTC Dutch Treasury Certificates NL ESF Spanish Floater Bonds ES BON Spanish Govt Bonds Short Paper ES OBE Spanish Govt Bonds Long Paper ES LET Spanish Treausury Bills ES SIL Spanish Inflation linked Bonds ES PTC Portugal Zero Coupon Govt Bonds PT PTE Portugal Govt Bonds PT CC&G also accepts as collateral the BTP Italia (Italian Governement Bond linked to italian inflation) traded on markets other than MTS. CC&G reserves the right to modify the list above for reasons of risk management, with urgent Notice distributed through its website xxx.xxxx.xxx/xxx.

DEPOSITABLE FINANCIAL INSTRUMENTS. Depositable securities are those Government securities traded on MTS market issued by the countries and of the types indicated in the following table: BTi Italian Indexed Govt Bonds ITA BOT Italian Treasury Certificates ITA BTP Italian Govt Bonds ITA CTZ Italian Zero Coupon Govt Bonds ITA CCT Italian Floating Rate Govt Bonds ITA ATS Austrian Govt Bonds AT OLO Belgian Govt Bonds BE BFR Belgian Floating Rate BE BTC Belgian Treasury Certificates BE RGF Finnish Govt Bonds FI BNI French Indexed BTAN bonds FR BTAN French Govt Bonds Short Paper FR OAT French Govt Bonds Long Paper FR FTB French Treasury Bills FR OAI French Indexed Govt Bonds FR GIL Inflation Linked Bonds DE DEM German Govt Bonds DE GTC German Treasury Certificates DE IRL Irish Govt Bonds IR ITB Irish Treasury Bills IR DSL Dutch Govt Bonds NL DTC Dutch Treasury Certificates NL ESF Spanish Floater Bonds ES BON Spanish Govt Bonds Short Paper ES OBE Spanish Govt Bonds Long Paper ES LET Spanish Treausury Bills ES SIL Spanish Inflation linked Bonds ES PTC Portugal Zero Coupon Govt Bonds PT PTE Portugal Govt Bonds PT CC&G also accepts as collateral the BTP Italia (Italian Governement Bond linked to italian inflation) traded on markets other than MTS. CC&G reserves the right to modify the list above for reasons of risk management, with urgent Notice distributed through its website xxx.xxxx.xxx/xxx.. Formatted: Indent: Left: 0,63 cm, Hanging: 1,37 cm, Numbered + Level: 1 + Numbering Style: 1, 2, 3, … + Start at: 1 + Alignment: Left + Aligned at: 0,95 cm + Indent at: 1,59 cm 2) VALUATION PRICE (“market value” determination) Government securities shall be valued using the prices of trades executed or quotations available on the MTS market at the moment of the valuation. CC&G reserves the right to use a different price if it is considered more representative of market conditions. Formatted: Indent: Left: 0,63 cm, Hanging: 1,37 cm, Numbered + Level: 1 + Numbering Style: 1, 2, 3, … + Start at: 1 + Alignment: Left + Aligned at: 0,95 cm + Indent at: 1,59 cm Formatted: Bulleted + Level: 1 + Aligned at: 2,63 cm + Indent at: 3,27 cm 3) HAIRCUT CLASSES (“margin value” calculation) Deposited financial instruments are divided in “classes” according to:

DEPOSITABLE FINANCIAL INSTRUMENTS. Depositable securities are those Government securities traded on MTS market issued by the countries and of the types indicated in the following table: Type BTi BOT Description Italian Indexed Govt Bonds ITA BOT Italian Treasury Certificates Country ITA ITA BTP Italian Govt Bonds ITA CTZ Italian Zero Coupon Govt Bonds ITA CCT Italian Floating Rate Govt Bonds ITA ATS Austrian Govt Bonds AT OLO Belgian Govt Bonds BE BFR Belgian Floating Rate BE BTC Belgian Treasury Certificates BE RGF Finnish Govt Bonds FI BNI French Indexed BTAN bonds FR BTAN French Govt Bonds Short Paper FR OAT French Govt Bonds Long Paper FR FTB French Treasury Bills FR OAI French Indexed Govt Bonds FR GIL Inflation Linked Bonds DE DEM German Govt Bonds DE GTC German Treasury Certificates DE IRL Irish Govt Bonds IR ITB Irish Treasury Bills IR DSL Dutch Govt Bonds NL DTC Dutch Treasury Certificates NL ESF Spanish Floater Bonds ES BON Spanish Govt Bonds Short Paper ES OBE Spanish Govt Bonds Long Paper ES LET Spanish Treausury Bills ES SIL Spanish Inflation linked Bonds ES PTC Portugal Zero Coupon Govt Bonds PT PTE Portugal Govt Bonds PT CC&G also accepts as collateral the BTP Italia (Italian Governement Bond linked to italian inflation) traded on markets other than MTS. CC&G reserves the right to modify the list above for reasons of risk management, with urgent Notice distributed through its website xxx.xxxx.xxx/xxx.