1. Asset & Liability Management Author: Jamila Awad Date: April 2014

2. BOND ISSUANCE CHARACTERISTICS Principal10000000 Coupon rate3,00% YTM3,00% Maturity Date01/05/2024 Settlement Date01/05/2014 Previous Coupon Date01/05/2014 Next Coupon Date01/05/2015 Payment per year1,00 Expected Δ YTM-0,25% BOND ISSUANCE OUTPUTS Quoted Price (% of par)100 Quoted (Clean) Price ($)10000000 Invoice (Dirty) Price 10000000 Accrued Interest (Clean)0 DURATION & CONVEXITY MEASURES FOR IMMUNIZATION Duration (Calculation)8,78611 Duration (Excel) 8,78611 Modified Duration (Calculation)8,5302 Modified Duration (Excel)8,5302 Convexity 87,0660 Δ P Duration Approx.2,1326%

3. Bond # Date CouponYTMFreq.PriceDurationWeights Initial SymbolSettlementMaturityInvestmentPar Value 1 FFCD393 0214 01/05/201 4 20/11/202 01,700%2,551% 294,89416,168722,21% 2221207,7 8 2340723,0 3 2 FFCD392 5834 01/05/201 4 08/11/203 23,120%3,959% 289,060613,66758,85%885109,33993827,83 3 FFCD391 6013 01/05/201 4 22/10/202 6 2,800%3,645%291,589610,503714,97% 1496932,5 9 1634391,8 6 4 FFCD385 8074 01/05/201 4 06/06/202 2 2,590%3,035%296,82507,263720,38% 2038243,7 5 2105080,0 2 5 FFCD.CR A 01/05/201 4 03/08/203 9 4,840%4,195%2109,980715,18450,00%00 6SO.LB 01/05/201 4 15/05/203 8 6,125%4,522%2123,34713,685910,00%00 7 BRK367730 9 01/05/201 4 15/01/204 0 5,750%4,594%2117,326414,441910,00%00 8DOV.GH 01/05/201 4 15/03/203 8 6,600%4,483%2130,828613,681170,00%00 9OLDE.GF 01/05/201 4 01/12/202 8 6,210%4,909%2113,43159,89627315,98% 1598413,2 21409143,9 10SRE.HN 01/05/201 4 01/06/202 6 6,000%3,778%2121,3938,92850617,60% 1760103,3 2 1449921,7 3