Icsd Agreement

issueragreements@clearstream.com and issueragreements@euroclear.com Before accepting NGN or NSS securities with Euroclear Bank and Clearstream Banking (Luxembourg), the issuer must sign an issuer-ICSD agreement. Issuers must send a signed copy of the agreement to Euroclear Bank and Clearstream Banking (Luxembourg). The contract will only become effective and binding on the IICS after they have been received. An agreement is required once for each program and separately for each stand-alone edition represented by an NGN or NSS. A signed printed copy should be sent to each of the ICSDs at the addresses indicated in the contract. Four European institutions have launched an awareness campaign to prepare issuers and their agents for a new legal and holding structure for international bonds, which is expected to be launched in June. The EU`s monetary policy was inspired by the transition to the new structure. The New Global Note (NGN) is a new form of global certificate for the issuance of new international bonds in global form. The structure provides for the treatment and custody of international bearer bonds issued on or after 30 June 2006. It is mandatory for all new issues that are to be recognised as collateral for the Eurosystem`s monetary policy and for intraday credit operations. To facilitate the transition to this new structure, Euroclear Bank and Clearstream Banking Luxembourg have launched an information campaign in collaboration with the International Capital Market Association (ICMA) and the International Capital Market Services Association (ICMSA). In accordance with the provisions of the NGN, outstanding emissions are determined on the basis of the international CSD (CSD) registries.

Issuers shall make available a signed issuer-ICSD agreement requesting the acceptance of securities with the IICS. NGN titles are operated by two new types of service providers: common service provider and common safekeeper, both appointed by icsds. NGN securities potentially eligible as collateral for the Eurosystem`s monetary policy or for intraday credit operations must be deposited and held as joint depositaries in the holding of an ICSD. Issuers wishing to use the new structure and ensure the potential suitability of their new issue must update their legal documentation to allow for this new form of issuance. It is also necessary to adapt certain operational processes related to the issuance of new securities and new voting flows, such as those carried out by securities managers and issuing and paying agencies. For more information, please visit the ICMA website at www.icma-group.org Please note that when sending an electronic version to the CSK, the original document must be sent immediately thereafter to the above address. For subjects for which Clearstream Banking Luxembourg has been appointed CSK, the implementation instructions should be sent electronically (PDF format) via: Manager NBIM calls for a common approach to voting deadlines at EU level The legislative package describes the additional mandatory wording for the documentation of offer and agency services. To express such a preference, the issuer must fill in the relevant information and sign the common safe voting form to designate Euroclear or Clearstream as CSK.

From 30 June 2006, international bearer bonds can be issued under a new structure called a new Global Rating (NGN), in the International Securities Deposit Centres (ICSD), Euroclear Bank and Clearstream Banking Luxembourg (CBL). . . .