Disclaimer

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All information contained herein shall only be used by the recipient for his/her own personal reference. Any other use, including any disclosure or distribution to of any information to any third party, requires the express written permission of Barclays. Barclays will not treat unauthorized recipients of this information as its clients.

FOR INFORMATION PURPOSES ONLY

This information has been prepared by the Research Department within the Investment Bank of Barclays Bank PLC and, where relevant, is distributed by Barclays Bank PLC and/or one or more of its affiliates (collectively and each individually, “Barclays”). The information, analytic tools, and/or models referenced herein (and any reports or results derived from their use) are intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation is made that any returns will be achieved through their use.

INFORMATION PROVIDED MAY NOT BE ACCURATE OR COMPLETE AND MAY BE SOURCED FROM THIRD PARTIES

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INFORMATION PROVIDED IS NOT INDICATIVE OF FUTURE RESULTS

Any data on past performance, modelling or back-testing contained herein is not necessarily indicative of future results. All levels, prices and spreads are historical and do not represent current market levels, prices or spreads, some or all of which may have changed. The information referenced herein or any of the reports or results derived from any analytic tools or models referenced herein are not intended to predict actual results and no assurances are given with respect thereto.

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To the extent permitted by law, in no event shall Barclays, nor any affiliate, nor any of their respective officers, directors, partners, employees or third party licensors have any liability for (a) any special, punitive, indirect, or consequential damages; or (b) any lost profits, lost revenue, loss of anticipated savings or loss of opportunity or other financial loss, even if notified or advised of the possibility of such damages or potential loss, arising from any use of the information provided herein.

NO ADVICE

The information provided does not constitute investment advice or take into account the individual financial circumstances or objectives of the clients who receive it. You should consult with your own accounting, legal or other advisors as to the adequacy of this information for your purposes.

NO USE FOR VALUATION PURPOSES

No data or price information should be used for any valuation, trading, settlement, accounting purposes or other related functions.

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