es in 36M given a minimum spot move over the period (Dec.02 to (fixed strike implied vols over the subsequent 6M Sep-13) Spot Mon (Gnotor Than) Medan Chang, in Vol Aker Spot 18M Call After NM Call Mho GM 18M Mon Over Period SOM Call Mr 24M 0% -0.3% -0.1% -0.2% 5% -0.8% -0.3% -0.3% 10% -1

es in 36M given a minimum spot move over the period (Dec.02 to (fixed strike implied vols over the subsequent 6M Sep-13) Spot Mon (Gnotor Than) Medan Chang, in Vol Aker Spot 18M Call After NM Call Mho GM 18M Mon Over Period SOM Call Mr 24M 0% -0.3% -0.1% -0.2% 5% -0.8% -0.3% -0.3% 10% -1

es in 36M given a minimum spot move over the period (Dec.02 to (fixed strike implied vols over the subsequent 6M Sep-13) Spot Mon (Gnotor Than) Medan Chang, in Vol Aker Spot 18M Call After NM Call Mho GM 18M Mon Over Period SOM Call Mr 24M 0% -0.3% -0.1% -0.2% 5% -0.8% -0.3% -0.3% 10% -1