1. The Settlement Report Guide to the Condico Clearing Station (Financial Market)

2. 2 2 2 2 Trade History In the „Trade History” section, the user is able to preview and modify the current transactions as well as to preview historical transactions. The preview function enables filtering by: Account, Instrument, User, Market as well as Trade Status. To make any modifications – highlight the transaction and then select the required operation in the field „Trade Management Operations”. Users with „extended” accesss are able to move or divide the transaction or to edit the description of the transaction. The operations mentioned above can only be carried out on days when the transactions were entered into by 3:30pm.

3. 3 3 3 3 Account Positions In the „Account Positions” section, the user is able to preview all their positions for a chosen day. The preview function enables filtering by: Markets, Accounts (trading accounts), Instruments. After the selection of a position, the user can see all of the transactions that compose the chosen position.

4. 4 4 4 4 Delivery Positions The „Delivery Positions” bookmark provides a preview of the user’s positions in all Instruments, which – depending on the date range chosen by the user – may be in execution, in delivery or to be executed in the future. After the selection of a position, the user can see all of the transactions that compose the chosen position.

5. 5 5 5 5 Non-realised Profit/Loss (Mark-to-Market) M2M Previous Position= 0, if Previous Position = 0 or Market Price = Previous Settlement Price M2M Previous Position 0 as well as Market Price Previous Settlement Price M2M Previous Position >0, if Previous Position 0 ias well as Market Price> Previous Settlement Price

6. 6 6 6 6 Non-realised Profit/Loss (Mark-to-Market) M2M Intra-Day = 0, when Market Price = Transaction Price M2M Intra-Day Transaction Price and the Contracts 0 M2M Intra-Day > 0, when Market price > Transaction Price and the Contracts > 0 or Market Price < Transaction Price and Contracts < 0

7. 7 7 7 7 Non-realised Profit/Loss (Mark-to-Market) - xx = + - xx = = In the Non-realised Profit/Loss bookmark you can find the expected payments values by the right of Mark–to- Market on an intra-day basis (prices are updated every working day at about 11:00am and 1:00pm) In the Mark- to- Market report you can find the final data resulting from Mark -to -Market operations.

8. 8 8 8 8 Initial margin – Position Netting - x x x = = Initial Margin for the respective Delivery Period = - (Lot Size x |Net Position| x Clearing Price x Valuation Parameter)

9. 9 9 9 9 Initial margin – Position Netting The value of a margin is calculated from the day the Position was opened till the moment of closing this Position or till the day when the type of financial instrument is terminated. It is calculated every day for every IRGiT Clearing Member. If a Clearing Member of IRGiT clears its clients, the value of the margin is calculated separately for every single client of this Member, as well as for any Positions belonging to the Clearing Member of the IRGiT itself. An update of the value of required collateral margins is made every working day by 4:30pm. Initial Margin – delivery period (Delivery Period Margin) is calculated solely for any monthly contracts in execution. Initial Margin – delivery period, acts as an initial margin and is calculated in pursuance of the same rules.

10. 10 Delivery Period Margin Delivery Period Margin for each instrument = - (Lot Size x |Net Position| x Settlement Price x Valuation Parameter) - = x xx =

11. 11 Settlement Margin Per Market

12. 12 Settlement Margin and Billing Margin 1) On working days, after the start of the proccess of daily clearing at 3:30pm, IRGiT pursues Mark- to- Market operations for all Account Positions, as well as for transactions entered into on this day. 2) The final clearing of Account Positions is performed on the last day of every month. If the last day of the month is a non- working day, then the final clearing is performed on the first working day. 3) All Account Positions being cleared on a given day are shown in the „Settlement Margin” bookmark as well as under „Margin Summary” in the „Settlement Margin” column. 4) On working days, after issuing invoices with an „Invoiced” status (at about 4:00pm) values resulting from Mark- to -Market operations, as well as from final clearing are placed in the „Billing Margin” column under the „Margin Summary – Exchange” bookmark. After sending the payment orders to the banks, for all Members having receivables by the right of Mark- to -Market calculation (Billing margin value is positve), at about 6:00pm, the invoice status is changed to „Paid”, which results in a change of the value in the „Billing Margin” column to „0”. For those Members who have liabilities by the right of Mark –to- Market calculation (Billing margin value is negative) the value in the „Billing Margin” column is changed to „0” the next working day before invoices with the status „Invoiced” are issued. 5) On working days, after issuing invoices with the status „Invoiced” the values shown in the „Settlement Margin” column under the „Margin Summary” bookmark equal „0”.

13. 13 Margin Summary +++ + = = * * Values in the Non-realised column are updated in the intra-day mode and have an impact on the values shown in the Total Margin and Daily Operational Limit columns.

14. 14 Margin Summary Daily Operational Limit Total Margin = Net Initial Margin + Delivery Margin + Settlement Margin + Billing Margin + + Collateral Pledged = Monetary resources in the Transaction Margins control account + Recognized non-cash collaterals for Transaction Limit + Net Initial Margin + Delivery Period Margin Other Guarantees = Liabilities by the right of update of margins

15. 15 Daily settlement Under the „Daily Settlement” bookmark, the user is able to preview the values of the transactions, which have been cleared on the financial instrument market, for the final settlement date of a given instrument.

16. 16 Clearing Account Settlement Summary Under the „Clearing Account Settlement Summary” bookmark, the user is able to preview the values of the transactions, which have been cleared on the financial instrument market, for the final settlement date of a given instrument.

17. 17 Invoice The „Invoice” bookmark allows for the preview of electronic invoices within the selected range of delivery dates. The invoices can be sorted by Invoice Group, Account as well as Status: Cancelled, Invoiced, Paid. All the invoices with an „Invoiced” status are placed in the „Billing Margin”column under the „Margin Summary – Exchange” bookmark and are updated on working days at about 4:00pm. At the same time, the invoices with an „Invoiced” status are supplemented in the „Amount” and „Tax Amount” columns under the „Invoice” bookmark. The values in the „Billing Margin” column under the „Margin Summary Exchange” bookmark are sent to the Clearing Bank in the form of payment orders. After sending the payment orders to the banks, for all Clearing Members having receivables by the right of the Mark- to -Market calculation, at about 6:00pm, the invoice status is changed to „Paid”, which results in a change of the value in the „Billing Margin” column to „0”. At the same time, the invoices with a „Paid” status are supplemented to the „Paid Amount” column under the „Invoice” bookmark with values opposite to the values in the „Amount” column.

18. 18 Fees Under the „Fees” bookmark, there are visible commission invoices for the volume of transactions, which have been entered into on given markets.The scope of filtering and invoice statuses are the same as in the case of the „Invoice” bookmark. The commission invoices are issued on each Sunday, the last day of a given month or after the transfer of positions. In the case of issuing the commission invoices on a Sunday in a week that does not encompass the last day of a given month, the invoices are issued for the period from the last Monday till Sunday inclusive. In the case of issuing the commission invoices on the last day of the month (that is not a Sunday), the invoices are issued for the period from the last Monday till the last day of the month, inclusive. In the case of issuing the commission invoices on a Sunday in a week encompassing the last day of the month, the invoices are issued for the period from the first day of the month till Sunday, inclusive.

19. Thank you for your attention