EFTA Document EFTA01458681

Retracenient since CNY deval (Chart 3) 3% Difference versus 10-August (day before CNY devaluation) 2% 1% 1% - 0% E. ni =NI % ' -1% 0% I % -3% • -2% -2% • • • -5% • • • ♦ • • 7% -5% - • -9% - uCurrent • -11% - • Max Drawdown • -13% - -15% MYR TWD CNY INR SGD THB PHP IDR KRW ATM Vol curve (Chart 4 and 5) 3.00 2.00 1.00 0.00 -1.00 -2.00 -3.00 -4.00 Average Asia 1M ATM Vols - Average Asia 1Y ATM Vols • Current • 1Y Percentile • Jan-1