EFTA Document EFTA01385322

3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite [Figure 6: E&P peer group bond performance Group Bond Key Basins Uihedged Net ley (as 003 17) Price 1943ac-17 V1W OAS ilki-Clec IS rim? OAS Higher Quality -Oil CLR 4.5%'23 Walston 8 Anadarko 3.4x 102.3 4.00 179 4.910 278 PAM 4.75%'24 Porn 1n 1.58 100.8 4.57 213 5.06 263 tiFX 5.625%74 Anadarko 2.1x 108.0 4.21 193 435 253 FE 525%R4 Permian 2.1x 105.5 4.86 248 5.13 282 Average 2.3x 441 208 6.01 2119 Higher Quality -Gas AR 5.625% '23 Appabchia 3.9x 104.0 4.36 215 4.86 271 RRC 5.00% '23 Ape/dad-ea 4.0x 98.5 5.33 312 5.12 289 GFCR 6.625%73 Appalachia 2.7x 102.0 5.96 378 522 327 Fay etlov ific & SWN 4.95% 75 Appabclwi 29x 103.8 6.02 371 629 394 _ Average 3.4x 5.42 319 6.40 320 Spread vs Nigher Quality Oil 1.01 111 0.39 51 Mid Quality -Oil CF1Z0 625% '23 Eagle Ford & Rtg nion 321 103.0 5.25 311 539 330 LR 6.25%'23 111Ingin 1.6x 103.3 5.14 3O2 492 290 CEP 5.25%'23 Wanton 8 %Fusin 3.3x 101.0 5.03 280 525 303 OAS 6.875%73 1Aileton 3.8x 102.3 591 383 5.89 393 SIM 850%'23 Eagle Ford 8 Fbrrrian 4.6x 102.3 5.53 344 5.40 343 1ALL 6.25% '23 Weston 4.1x 100.8 6.07 386 6.15 396 1APX 5.25%'24 Fbrrrian 8 Waelcer 4.0x 99.0 5.43 313 582 346 Average 3.6x 6.48 331 5.55 343 Spread vs Higher Quality 011 1.07 123 0.54 74 Lower Quality -Oil eac 7.0%'22 al Basin 224 102.0 621 411 792 583 San Joaquin 8 Los CPC 6.0%'24 Angeles Basin 7.3x 69.0 1242 1063 11.07 874 Gut Coast MR 4.625%73 Rocky Mountain 7.0x 63.0 14.56 1234 8 4 616 EPE 6.375% '23 Eagle Ford a PouTian 7.3x 52.0 26.02 2390 10 99 880 lisEG Canadian a Sands 7.4x 85.0 10.30 805 8 79 651 SN 6.125% '23 Eagle Ford 4.5x 83.8 10.32 814_ 7.05 — — --- 490 Average 13.39 882 6.2x 1120_ 9.04 Spread vsHigher Quality0d 8.98 911 4.03 413 Lower Quality - Gas Apeolactia, Eagle Ford GC 5.75%73 & Ma/needle 5.0x 92.5 7.51 533 7.37 520 ECR 8.875%23 Appalachia 2.7x 102.5 8.05 584 7977 578 Average 3.8x 7.78 559 SAO 648 Spread vatilpher Qualify Gas 2.34 240 2.28 228 Saw Ofurrobrawst Norategrfreweift Deutsche Bank Securities Inc. ca. 47 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0086606 SDNY_GM_00232790 EFTA01385322