EFTA Document EFTA01456566

12% 10% 8% - SRL carry cat COP own/ cost CLP cany oast AM carry cos 6% -PEN arty owl 4% 4% Jun-I4 Jui14 Aup-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 18% BRE ly imp vd -COP I y Imp vd 16% CLP ty imp vd -MTh 1y imp voI 14% -PEN I y fop 12% 10% 8% 6% 4% 2% Jun-I4 Ju0-14 Aup14 Sep-14 Oct-14 Nov-14 Dec-I4 Jen-15 60% 55% 50% 45% 40% 35% 30% 25% -ERL lyskeW irebti*loicp vdi COP ly skew (retanweto impl wok CLP 1y skew (re*tve to 'owl vci) LIXN Iy ske