0 - -31-Dec-2009 J.P.Morgan 44 EFTA00606202 Dave Katz. CFA North America Credit Research 16 February 2012 Henry Hub Natural Gas Spot Price (USD/MMBtu) $20 $18 $16 $14 $12 $10 $8 S6 S4 52 4— Trough: $1.88 - 11/16/2001 Peak: $19.38-02/25.2003 $0 Apr-01 Apr-02 Apr-03 Apr-04 Apr-05