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As of 20.11.2023
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Chapter II

2.17.5

2.29

2.29.1

2.29.3

2.29.4

Corporate Actions

Part 3 Number3.42- Number 3.11.6 applies mutatis mutandis.

Clearing of Futures Contracts on BTCetc - ETC Group Physical Bitcoin
[J

Procedures for Delivery and Payments

Physical All physical deliveries and-payments-shall be made concurrently_and directly

bet th ig Memb Es Ck g-AG-versus payment (Zug-um-Zug) on
the second Business Day after the last trading day of the contract BTCetc Bitcoin Futures

Contracts (Number 1.30.6 of the Eurex Contract Specifications) (for the provisions under
this Number 2.29, the “Contractual Settlement Date’).

Physical deliveries of securities shall be made through a Settlement Location; payments
shall be settled-via-made through the account specified by such Settlement Location.

Clearing Members must make-sure-ensure that they are able to effect deliveries and
payments by having sufficient deposits in their securities account with the respective
Settlement Location and sufficient credit balances in the respective cash accounts.

Fulfilment, Delivery

A delivery obligation out of a short position in a BTCetc Bitcoin Futures Contract can only
be performed by the delivery of one thousand of the underlying BTCetc - ETC Group
Physical Bitcoin Bonds (or, if Number 1.30.7 of the Eurex Contract Specifications applies,
the delivery of the underlying basket of bonds in an amount as determined in accordance
with Number 1.30.7 of the Eurex Contract Specifications). Consequently, there is an

obligation to-take-delivery incumbent upon-accept delivery by the holder of a long position
in a BTCetc Bitcoin Futures Contract.

Failure to Deliver

In the event that a Clearing Member fails to deliver any securities to be delivered on the

delivery-date-Contractual Settlement Date (as per Number 2.29.1) until the respective
settlement cut-off time of the Settlement Location according to the instructions of Eurex
Clearing AG, Eurex Ch g AG-shall tak d th Number 2.3.5

(4}{applied mutatis mutandis). Chapter V Part 2 Number 2.2 shall apply accordingly.

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Chapter II

(b) Ifa Clearing Member fails to deliver debt securities on the delivery day
Contractual Settlement Date until the respective Settlement Cut-Off Time, such
Clearing Member shall pay to Eurex Clearing AG a contractual penalty for the
period from the delivery day Contractual Settlement Date (whereby the delivery
day-Contractual Settlement Date will be taken into account for the calculation)
to the earlier of (i) the date of actual delivery or (ii) the date of a replacement
purchase (whereby such earlier date will not be taken into account for the
calculation).

Ll

(c) Eurex Clearing AG will pay any Interest Of of Delay it has received from the
Clearing Member, which failed to deliver the debt securities, to the Clearing
Member, which is entitled to receive the debt securities.

(d) For the avoidance of doubt, the provisions of this Number 2.3.5 (4) shall apply
in addition to Chapter | Part 1 Number 44.2-1.4.4.2 of the Clearing Conditions.

(6) If on a delivery-day-Contractual Settlement Date only a partial delivery debtof debt
securities occurs, the Paragraphs-paragraphs above shall apply accordingly with
regard to the outstanding partial deliveries. Due-to-diff it ge pi Ioulati

fthe T2S-syst d-thi t a7 Clear i tial
¥ ¥ 'g- gp

del it f Jete-deli the- deli day_that-thi
Pt y days

Clearing of Futures Contracts of-on Exchange Traded Fund Shares

[-l

Delivery and Payment Procedures

(1) All physical deliveries for the fulfilment of EXTF Futures Contracts shall be made
versus payment (Zug um Zug) on the second Business Day after the last trading day
of the contract (for the provisions under this Number 2.5, the “Contractual

Settlement Date’).
[LJ

Each Clearing Memb: Je Clearing AG a that T i

be pi .d-on-the Busi D: hich the-deli tice-is-giver-Alll Clearing

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Clearing Conditions of Eurex Clearing AG

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Chapter II

(2)

(3)

Cash Settlement

The Lofth ti {-shall-be-caloulated from-the-high

tivel Itiplied-with the dingtot th, d-sh: Ee
‘i Mf Pt ig a
ch G-shall-settle-th: ti tto-be-paid-with thi A;
ig PA i ics i
to-be-paid for th: igned-sh
Pi ig

If the required Securities cannot be acquired wholly or partially by way of a buy-in in
accordance with Paragraph (1), Eurex Clearing AG is entitled to determine a cash
settlement amount regarding the non-delivered Securities on a day after the
Contractual Settlement Date (“Determination Day’). For the purpose of the cash
settlement, Eurex Clearing AG shall allocate the Securities owed under the Options
Contract on Shares and LEPOs of a Clearing Member to whom delivery has not
been effected in time (“Buyer”) to the Securities owed under the Options Contract on
Shares and LEPOs of the Late Seller.

The Determination Day shall be

(i)__in case of Shares, the 8 Business Day after the Contractual Settlement Date of
the Shares owed under the Options Contract on Shares and LEPOs of the Late
Seller of Shares: or

(ii)__in case of Other Securities, the 21s‘ Business Day after the Contractual
Settlement Date of the Other Securities owed under the Options Contract on
Shares and LEPOs of the Late Seller of Other Securities and the allocated
Options Contract on Shares and LEPOs.

In addition to that, the provisions of Chapter V Part 1 Number 2.2.1 (3) (b) (c) and (e)
of the Clearing Conditions shall apply accordingly.

In-th ta Clearing Member with. +t to-which-£ Clearing AG. th:
gs ‘i '

ot sh: fails-to-give-th: instruction to Euroclear UK &
ig - gi ¥

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Chapter | of the Clearing Conditions of Eurex Clearing AG

General Provisions

As of 20.11.2023

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Clearing Conditions of Eurex Clearing AG

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Chapter II

Part 3

3.5.6

Clearing of Options Contracts

Clearing of Options Contracts on Shares of Exchange-Traded Funds

[1

Delivery and Payment Procedures

All physical deliveries shall be made versus payment (Zug-um-Zug)_on the second
Business Day after the last trading day of the EXTF Options Contracts (for the provisions
under this Number 3.5, the “Contractual Settlement Date”).

9 ss-Da c ~All Clearing
Members must ensure their ability to effect deliveries and payments thereof through
sufficient deposits in the securities account with the respective Settlement Location and
credit balances in the respective cash accounts.

Failure to Deliver

In the event that a Clearing Member fails to deliver the underlying security (funds) on the
delivery day Contractual Settlement Date (as per Number 3.5.1) until the respective
settlement cut-off time of the Settlement Location according to the instructions of Eurex
Clearing AG, Eurex Clearing AG-shalltak 7 th-the provisions of
Chapter V Part 2 Number 2.2; the-provisi +h tractual penalty provided th:

shall also-apply accordingly.

Corporate Actions

In case of corporate actions which formthe-basis-of underlyings-with respect to securities
whose delivery has not yet been effected, the regulations pursuant to Chapter V Part 2

Number 2.3 apply mutatis mutandis.

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Business Day after its determination by Eurex Clearing AG. This Number 3.6.8 does not
apply in case of securities resulting from Options Contracts or LEPOs with the assigned
roup ID GB11 and |E11.
3.6.9 Corporate Actions on Securities from with-Options Contracts with Group ID GB11

and 1E11

(1) If transfer obligations which have not yet been fulfilled and are resulting from Options
Contracts with the assigned group IDs GB11 and IE11, refer to shares with regard to
which a corporate actions is made, Eurex Clearing AG shall — within the scope of
Clearing of such transactions in relation to its Clearing Members — generally settle
such actions according to the rules which apply or are applied therefore with
Euroclear UK &4relandinternational Ltd as relevant home market.

(3) If a corporate action results in a change of the type of custody to individual
safekeeping, the following provisions shall apply between Eurex Clearing AG and
the Clearing Members as contractual parties of the Options Contract:

(a) Eurex Clearing AG discloses its claim for transfer of the shares to be delivered
by the Clearing Member obliged to deliver to the Clearing Member which, in
turn, has not received delivery from Eurex Clearing AG, in order to enter into an
assumption of contract-debt (befreiende Schuldtibernahme according to § 414
German Civil Code (Buirgerliches Gesetzbuch)) with the Clearing Member to
whom delivery is to be made in favour of Eurex Clearing AG according to
Paragraph (3) (b) to the extent the number of shares to be delivered by the
defaulting Clearing Member to Eurex Clearing AG corresponds to the shares to
be transferred by Eurex Clearing AG to the Clearing Member that has not
received delivery in time.

(b) An effective assumption in favour of Eurex Clearing AG according to
Paragraph (3) (a) does only exist if the two respective Clearing Members have
agreed upon a certain number of shares which shall be delivered by the
defaulting Clearing Member instead of Eurex Clearing AG to the Clearing
Member to whom delivery is to be made and if the standardised agreement for
the assumption of the delivery obligation provided by Eurex Clearing AG for
such purpose has been legally signed by both Clearing Members and has been
submitted to Eurex Clearing AG in case of a change of the type of custody to
individual safekeeping (in the following “Obligation-Assumption of Debt
Agreement” (Schuldiibernahmevertraq)).

(c) As soon as the signed Obligation Assumption of Debt Agreement is submitted
to Eurex Clearing AG, the obligation of Eurex Clearing AG vis-a-vis the Clearing
Member it has to deliver the owed shares to and all secondary obligations being
at present or in future in connection with this obligation expire with immediate
debt-discharging effect in the amount of the number of shares to be assigned
agreed upon by both Clearing Members.

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Chapter II
3.6.7 Failure to Deliver or Accept Securities from Options Contracts ef with Group ID
GB11 and 1E11
3.6.7.1 Failure to Deliver Securities

In case of a failure to deliver shares covered by Article 15 of Regulation (EU)

No. 236/2012 (“Shares”) or other securities (‘Other Securities”, and together with
Shares “Securities’) owed under an Options Contract on Shares and LEPOs on the
Contractual Settlement Date until the applicable settlement cut-off time of the relevant
Settlement Location (“Failure to Deliver Securities”), the following provisions apply:

(1) Buy-in

In case of a Failure to Deliver Securities by the Clearing Member obliged to deliver

Shares (“Late Seller of Shares’), the provisions of Chapter V Part 2 Number 2.2.1
(1) (a) of the Clearing Conditions shall apply accordingly.

In case of a Failure to Deliver Securities by the Clearing Member obliged to deliver
Other Securities (“Late Seller of Other Securities” and together with the Late Seller
of Shares “Late Seller’), the following shall apply:

If the Late Seller of Other Securities did not deliver the Other Securities at the latest
on the Sth Business Day following the Contractual Settlement Date until the
Settlement-Cut-Off Time, Eurex Clearing AG is entitled to initiate a buy-in within the
meaning of Chapter | Part 1 Number 1.4.4.1 of the Clearing Conditions on the 5!"
Business Day following the Contractual Settlement Date. In case such buy-in
attempt fails, Eurex Clearing AG is entitled to initiated a further buy-in on the 10"
and 20" Business Day following the Contractual Settlement Date.

In addition to that, the provisions of Chapter V Part 1 Number 2.2.1 (1) (c) and (2) of
the Clearing Conditions shall apply accordingly in case of a buy-in.

Ifa Late Seller delivers Securities to Eurex Clearing AG after (i) Eurex Clearing AG
has informed the Late Seller about the initiation of a buy-in or (ii) after the delivery
obligation of the Late Seller has expired pursuant to this Paragraph (1), Eurex
Clearing AG is entitled to charge the Late Seller with a fee in the amount of

EUR 500.00.

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Chapter II

Ld
216

2.16.1

2.16.3

2.16.4

2.17

247.1

Clearing of Futures Contracts on Xetra-Gold®

L.]

Procedures for Delivery and Payments

Physical deliveries shall be made versus payment (Zug-um-Zug) on the second Business
Day after the last trading day of the contract-Futures Contracts on Xetra-Gold®

(Number 1.15.6 of the Eurex Contract Specifications) (for the provisions under this
Number 2.16, the “Contractual Settlement Date”).

Physical deliveries of securities shall be made through a Settlement Location; payments
shall be settled-via-made through the account specified by such Settlement Location.

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Fulfilment, Delivery

A delivery obligation out of a short position in a Xetra-Gold®Futures-Futures Contracts on
Xetra Gold®contract can be performed only by the delivery of one thousand of the
underlying Xetra-Gold®-Bonds. Consequently, there is an obligation to take-delivery

incumbent-upon-accept delivery by the owner of a long position of the respective-Xetra-
Gold®-Futures-contract Futures Contracts on Xetra Gold®.

Failure to Deliver

In the event that a Clearing Member fails to deliver any securities to be delivered on the
delivery-date-Contractual Settlement Date (as per Number 2.16.1) according to the
instructions of Eurex Clearing AG until the applicable settlement cut-off time of the
relevant Settlement Location, & a ete “4 a
Number 2.3.5-(4)-the provisions of Chapter V Part 2 Number 2.2 of the Clearing
Conditions shall apply accordingly.

Clearing of Futures Contracts on Exchange Traded Commodities Securities
Ll

Delivery and Payment Procedures

All physical deliveries shall be made versus payment (Zug-um-Zug) on the second
Business Day after the last trading day of the contract (Number 1.16.6 of the Eurex
Contract Specifications) (for the provisions under this Number 2.17, the “Contractual

Settlement Date’).
[J

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Clearing Conditions of Eurex Clearing AG

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Chapter II

AMENDMENTS ARE MARKED AS FOLLOWS:
INSERTIONS ARE UNDERLINED;

DELETIONS ARE CROSED OUT

Part 1 General Provisions

[1
11 Clearing Licenses
LJ
1.1.2 Prerequisites for Clearing Licenses
[-l
(2) The applicant shall meet the following additional requirements:
L.]
(c) If required for purposes of settlement of certain products tradable at the Eurex
Exchange, evidence of a securities account with Euroclear UK & /reland
International Ltd together with a cash clearing account with a bank recognised
by Eurex Clearing AG.
LJ
Lo]
1.10 Transaction Netting of Eurex Transactions that are subject to physical delivery

obligations

Eurex Clearing AG and the Clearing Member may agree upon a netting of Physical
Delivery Transactions as of the relevant Contractual Settlement Date applicable for the
relevant Physical Delivery Transaction ("Transaction Netting") subject to and in
accordance with the following provisions.

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AMENDMENTS ARE MARKED AS FOLLOWS:
INSERTIONS ARE UNDERLINED;

DELETIONS ARE CROSED OUT

Part 2 Clearing of Repo Transactions

27 Failure to Deliver or to Pay

2.74 Failure to deliver or pay on the Contractual Settlement Date of the Front Leg
(1) Repo Transactions (other than GC Pooling Repo Transaction)

bed

(d) The contractual penalty for a failure to deliver Securities pursuant to
Chapter | Part | Number 14.2.2 shall not apply. In case of failure to pay cash,
the contractual penalty pursuant to Chapter | Part | Number 14.2.2 shall apply.
In respect of a failure to deliver CSDR Penalty In-Scope Securities the
provisions on penalties set out in Chapter | Part 1 Number 1.4.4.2 (2) apply.

[1
2.7.2 Failure to deliver or to pay on the Contractual Settlement Date of the Term Leg
(1) Repo Transactions (other than GC Pooling Repo Transactions)
(1
(b) L-
(iii) [...]

The contractual penalty for a failure to deliver Securities pursuant to Chapter |
Part | Number 14.2.2 shall not apply. In respect of a failure to deliver CSDR
Penalty In-Scope Securities the provisions on penalties set out in

Chapter | Part 1 Number 1.4.4.2 (2) apply.

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Chapter II

3.11.1 Delivery and Payment Procedures
All physical deliveries of securities shall be made versus payment (Zug-um-Zug) on the
second Business Day after the exercise day of the-option-with-respectto-ETC-options
ETC Options or LEPOs respectively (for the provisions under this Number 3.11, the
“Contractual Settlement Date”).
Ll
Each Clearing: Memberand-Eurex-Clearing AG-must that-the-dispositi

'g 'g io
le-b: b: hich. for fulfilment-of the Eurex Ti ‘i b
g ¥

pi .d-in- the relevant ities transt ‘ dfor-setth tot Ei
F i the Bi Day hich the delivery notice is given_Alll Clearing
Members must ensure their ability to effect deliveries and payments thereof through
sufficient deposits in the securities account with the respective Settlement Location and
credit balances in the respective cash accounts.

L.]

3.11.5 Failure to Deliver

In the event that a Clearing Member fails to deliver the underlying security on the delivery
day-Contractual Settlement Date (as per Number 3.11.1) until the applicable settlement
cut-off time of the relevant Settlement Location and pursuant to the instructions of Eurex
Clearing AG, Eurex Clearing AG shall take the following pplication-ofthe
provisions pursuantte-Number 3.6-Z.under Number 3.6.6 shall apply accordingly.

In case of securities owed under ETC Options and LEPOs on WisdomTree ETCs the
provisions under Number 3.6.7 shall apply accordingly.

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Chapter |

buy-in-auction ruesAuction Terms. The Clearing Member or ISA Direct Clearing
Member having failed to deliver the relevant Securities to Eurex Clearing AG on
the applicable delivery datecontractual settlement date, shall reimburse Eurex
Clearing AG for the costs charged be-by the buy-in agent in relation to the buy-
in process. Such obligation is in addition to any charges that may apply in
relation to a buy-in in accordance with the Special Clearing
GenditionsProvisions, provided that any such additional charges shall be
subject to a maximum amount of EUR 3,000;(erin-case-charges-are-calculated
respectively).

Without prejudice to the provisions of the Special Clearing Provisions, Eurex
Clearing AG shall be entitled to initiate a buy-in pursuant to Paragraph (1)
above in case a Clearing Member or an ISA Direct Clearing Member fails under
a Transaction to deliver Securities to Eurex Clearing AG on the applicable
contractual settlement date, causing the inability of Eurex Clearing AG to fulfill
its due delivery obligation towards another Clearing Member or ISA Direct
Clearing Member and Eurex Clearing AG has received a Second Delivery
Request pursuant to Number 9.3.3 (3) of these General Clearing Provisions
from the respective Clearing Member or Clearing Agent (acting on behalf of the
ISA Direct Clearing Member). The respective rules of the Special Clearing
Provisions regarding costs and a potential cash settlement shall apply

accordingly.

1.4.4.2 Penalties

an)

(2)

Penalties in respect of Securities outside the scope of the Penalty Regime of the
CSD Regulation

{b}—These General Clearing Conditions and the Special Clearing Provisions

might foresee !p-additioncontractual penalties may-apply-with respect to the-a
failure by a Clearing Member or ISA Direct Clearing Member under a Transaction to

deliver Securities {ether-than-which are not CSDR Penalty In-Scope Securities_ as.
defined in Paragraph 2) to Eurex Clearing AG on the applicable delivery-contractual
settlement date.

Penalties in respect of Securities within the scope of the Penalty Regime of the CSD

Regulation

Unless specified otherwise in the Special Clearing Provisions, the following
provisions apply to the penalty process with respect to CSDR Penalty In-Scope
Securities (in respect of which a settlement fail within the meaning of the CSD

Regulation occurs):

“CSDR Penalty In-Scope Securities" means Securities (other than Securities to be
delivered as Margin or as Contributions to the Default Fund) to which delivery
obligations under Transactions with an Intended Settlement Date on or after the
CSDR Penalty Effective Date relate and in respect of which (i) Article 7(2) of the

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Chapter |
AMENDMENTS ARE MARKED AS FOLLOWS:
INSERTIONS ARE UNDERLINED;
DELETIONS ARE CROSED OUT
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Part 1 General Clearing Provisions

1 General Rules

1.4 Settlement of Transactions

[.]
[ud

1.4.4 Buy-In Right, Buy-In Auction-and-PenaltiesFailure to Deliver Securities
1.4.4.1 Buy-In

£the Penalty. the CSD Regulati

gt

{a}The Special Clearing Provisions may provide that in the event of a failure by a
Clearing Member or ISA Direct Clearing Member under a Transaction to deliver
Securities to Eurex Clearing AG on the applicable delivery-contractual
settlement date, Eurex Clearing AG shall be entitled at the cost of the defaulting
Clearing Member or the defaulting ISA Direct Clearing Member to initiate a buy-
in process whereby Eurex Clearing AG attempts to acquire the relevant
Securities from a third party.

L.]

Where Eurex Clearing AG appoints a third party buy-in agent to acquire the
Securities for Eurex Clearing AG, the rules of the buy-in agent may foresee
maximum buy-in prices and these may be different from the maximum prices
Eurex Clearing AG would accept when it conducts an auction pursuant to the

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Each Clearing Member_and- Eurex-Clearing AG-must that-the-dispositi
s ig Pi
gle-b basis-which ¥-for fulfilment of the Eurex Th i b
p .-in- the relevant ities transt d- by ECAG for the seitl tof
Eurex Ti i the Busi D: hich the-deli: tice
y y g

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2.17.2 Final Settlement Price
[.l
If no price in the underlying security is effected on the closing auction, the volume-
weighted average of the last three ‘paid’ prices (Bezahlt-Preise) of the respective
underlying security effected in the electronic trading system of the respective Stock
&xchange-stock exchange shall be authoritative.
Ll

2.17.3 Fulfilment, Delivery
A delivery obligation arising out of a short position in an ETC Futures Ccontract may only
be performed by the delivery of the underlying security. Consequently, there is an
obligation to take-delivery incumbent uper_accept delivery by the owner of a long position
in-an- ETC Futures-contract of the respective ETC Futures Contract.

2.17.4 Failure to Deliver

In the event that a Clearing Member fails to deliver the underlying security on the delivery
day-Contractual Settlement Date (as per Number 2.17.1) until the respective settlement-
cut-off time of the Settlement Location and pursuant to the instructions of Eurex

Clearing AG, Eurex Clearing AG shall take the measures in accordance with Part 3

-6-7 Number 3.11.5, fp-sueh-a-case, Part 3 Number 3.6.7 {6} shalLapply,
provided that:

Hk in-th tof 40. tofth hi: ige-of thi iti
P oH I
iti dat the ti i thebuy-in_attempt hi Jass- than USD 350.00
tminil d-net ding USD-7,000.00-at 2
(2)-a Ch Membertransfé dit ities to E: Ch AG aft
is Sy i
the-ebligation to-deliver has: Juded-shall-be-under the obligation t t
ig ig Pi
E Clearing AG i Hk in-th tof USD 700.00 for th:
KE Ch SG ints-a-bi Hor-th £the-b: th
Sy PP yin-ag! BUF >i
ts-set-out in Chapter} Part + Number 4.4.4 (4) shall apply with
i A PP!
tto-th hase-to-the-extent-th " i than-thi
Pt PA

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Chapter II of the Clearing Conditions of Eurex Clearing AG

Transactions Concluded at
Eurex Deutschland

(Eurex Exchange)

As of 20.11.2023

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Clearing Conditions of Eurex Clearing AG

Chapter II

ing of Paragraph (4 iC 2-{i).In case of a Failure to Deliver Securities.

the provisions of Chapter V Part 1 Number _2.2.1 (5) shall apply accordingly in
relation to the Buyer.

Upon performance of the cash settlement, the Buyer shall be obliged to cancel the
relevant settlement instructions in the systems of Euroclear UK & International Ltd.

If the Buyer caused a transfer of the relevant Securities by not cancelling the
relevant settlement instruction in the systems of Euroclear UK & International Ltd
Eurex Clearing AG is entitled to charge the Clearing Member to whom delivery has
not been effected in time with a fee in the amount of EUR 500.00.

(4) General provision:

ther-rights-(hi
ig!
th t i d_the-obligation-t the-right:
Pt I - ig!
hall-expire-Instead-of J a7 Ch Gk tof
i '¢ pay
" t Iting-Cl Memb te
Pt gi g

Further to the above, in case of a Failure to Deliver Securities, the provisions of
Chapter V Part 1 Number 2.2.1 (6) and 2.2.4 of the Clearing Conditions shall apply

accordingly.
5) The-claim-f totsh his-of -defaulting-Ck Memb
g ig
+E AG-fi 4 r hich-has-b igned-
ig ig
t tion ofa defaulting Ck Member-shaltexpi " th
gs is piFe-upt
ligation of the defaulting Clearing Member-to pay-th pensati n
lnastead-of-this-ch Jaina-of th: _defaulting Ch Memb +E
y ig ig

to-Options-Contracts-with th: igned IDIEA4 RE Clearing AG. °
1 P- .
buy-i it for-th f the-bi th i ts-setouti

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“Corporate Actions" means any dividend payments interest payments, bonus
payments or other cash distributions, transformations, the granting of subscription
rights to shares or comparable rights, conversion offers, occurrence of the final
maturity of fixed income securities, or any other similar action or event.

Eurex Clearing AG will not and shall not be obliged to check whether the relevant

(2

Settlement Location processed the CorporateAction correctly.

Handling of Fractions

If —in case of the occurrence of a Corporate Action with respect to Securities under
a pending FWB Transaction — it comes to a fractional processing of Securities as the
minimum settlement unit or settlement unit multiple are not met (“Fractions”), the
processing of the Fractions shall be performed by the relevant Settlement Location
in accordance with the applicable rules of the relevant Settlement Location
(“Settlement Location Fractions Processing”).

bel

Eurex Clearing AG shall not be obliged to check whether the relevant Settlement
Location Fraction Processing was performed correctly, but Eurex Clearing AG may
apply the following provisions:

Lo]

(b) If the relevant Settlement Location Fractions Processing results in a shortfall of
one or more Securities for Eurex Clearing AG, Eurex Clearing AG shall be
entitled to-attemptto purchase such Securities from a third-party for a maximum
purchase price that shall not exceed 120 per cent of the market value of the
Securities on the record date of the relevant Corporate Action as determined by
Eurex Clearing AG in its reasonable discretion (“Purchase Attempt”). Eurex
Clearing AG may deviate from this restriction when it deems the deviation in its
reasonable discretion for necessary.

Ll

Corrections to Corporate Actions

bl

If corporate actions in regard of as yet unperformed or performed FWB Transactions
were not carried out and afterwards corrected or implemented by the relevant
Settlement Location, Eurex Clearing AG shall reserve the right to waive the
subsequent implementation of the Corporate Action in favour of assigning to the
elaimantclaiming Clearing Member its claims against other Clearing Members
arising out of corresponding identical transactions with debt-discharging effect.

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Members must ensure their ability to effect deliveries and payments by-having
thereof through sufficient deposits in the securities account at the respective
Settlement Location and credit balances (i) in their cash account at the respective
custody institution Settlement Location; (ii) on the RTGS DCA or the euroSIC
Account for Fixed Income Futures Contracts denominated in EUR; and (iii) on the
SIC Account for CONF Futures Contracts.

(4) Before the Clearing Member can begin with the Clearing of Fixed Income Futures
Contracts with underlying debt securities of the Republic of Italy, the Clearing
Member is obliged to provide a tax information identifier (“TIN”) to Eurex Clearing AG
provided that the underlying debt securities shall be settled through Clearstream
Banking Frankfurt-AG. If the TIN changes due to whatever reason, the Clearing
Member shall inform Eurex Clearing AG without undue delay about any changes of
the TIN and shall provide the new TIN to Eurex Clearing AG without undue delay.

2.3.4 Fulfilment, Delivery
tl

(2) Two Business Days prior to the tenth calendar day of a quarter month (notification
day“Notification Day"), the Clearing Members with open short positions must
indicate the type of debt securities they will deliver to Eurex Clearing AG after
transaction closing close of trading of the respective Fixed Income Futures Contract
until the end of the post-trading full-period. Existing delivery notifications can be
changed until closing of the post-trading full period. If a delivery notice is not made in
time, Eurex Clearing AG determines the debt securities to be delivered by the
Clearing Member. The actual amount of notified debt securities have-has to be
confirmed by the Clearing Members having the delivery obligation vis-a-vis Eurex
Clearing AG one day prior to the-delivery-day Contractual Settlement Date.

(3) After the end of the post-trading period on the Notice Day Notification Day, Eurex
Clearing AG shall allocate to the Clearing Members with open long positions the
debt securities notified for delivery, using a selection procedure that ensures the
neutrality of the allocation process, The Clearing Members will be informed on the
next Business Day as to which debt securities were allocated to them and at what
tender.

2.3.5 Failure to Deliver

(1) Int ttheat ac g- Member fails-case of a failure to deliver the-such debt

securities to-be-del notified by it on the delivery day (as per Number 2.34

accordiag-tein accordance with the instructions of Eurex Clearing AG during the

deli {i det d-for-the-del d: blished-by-E: Ch GS
y day-{as-p' yf 'g-

on-the-Eurex-Clearing-Website)-which were notified for delivery on the Contractual

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Chapter II

Part 2 Clearing of Futures Contracts

[J
24 General Provisions
L.J
2.1.2 Daily Settlement Price

[-]

(2) Ld

(c) Exceptions

The following exceptions shall apply:

[.]

(bb) The daily settlement price for Futures Contracts on exchange-traded index
fund shares and on shares shall be determined by Eurex Clearing AG
based on to the closing price of the respective future determined in the
closing auction of the underlying plus the respective costs of carry. For
index fund shares, the closing price in the electronic trade on the
Frankfurter Wertpapierbérse/SWX-SIX Swiss Exchange shall be relevant;
for shares, the closing price according to the regulation in Number 2.7.2
shall be relevant.

[.]

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2.3 Clearing of Fixed Income Futures Contracts
[J

2.31 Delivery and Payment Procedures

(1) All physical deliveries of debt securities shall be made versus payment (Zug-um-
Zug) within the settlement period determined by Eurex Clearing AG on the second
Business Day after the notification dayNotification Day of the Fixed Income Futures
Contracts (as specified in Number 2.3.4 (2)) unless otherwise specified (for the
provisions under this Number 2.3, the “Contractual Settlement Date”).

(2) The Settement Claims-physical deliveries in debt securities shall be sett#ed- via
made through a Settlement Location and the payments shall be settled via the
respective-account determined-specified by the respective Settlement Location.

(3) All Clearing Memb LE. felt AG a that-the-t i
ig ig

be-handled-on-that B: Day-when-the delivery not ~All Clearing

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Clearing of Repo Transactions

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3.11.6 Corporate Actions

ding-to-the inst EE Clearing AG-Th tive Ch
sc] AG: PA
Memb. bligated-t hywith-th tructi a Clearing AG-which
ig i sy
the-Jatter- gives-in-th thi lementati d-setth tofth o
gi Pp A

5) Ita Ch Memb. t Fulfil ligation be
g gi

In case of corporate actions relating to underlyings of ETC Options and LEPOs, provided
that the delivery of those underlyings has not yet been effected, the provisions under
Number 3.6.8 shall apply accordingly.

In case of securities owed under ETC Options and LEPOs on WisdomTree ETCs the
provisions under Number 3.6.9 shall apply accordingly.

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Chapter |

CSD Regulation applies and has become effective and (ii) the exemption set out in
Article 7(13) of the CSD Regulation does not apply, provided that if and as long as a
letter (or similar statement) of the European Securities and Markets Authority or
another competent regulatory authority is effective stating that such authority will not
take any action if the penalty regime of the CSDR is not applied or not complied with,
the relevant Securities will not qualify as CSDR Penalty In-Scope Securities.

“CSD Regulation" means Regulation (EU) No 909/2014 of the European
Parliament and of the Council of 23 July 2014 on improving securities settlement in
the European Union and on central securities depositories and amending Directives
98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (as amended from
time to time).

“CSDR Penalty Effective Date" means 1 February 2022 (or such later date upon
which the CSDR provisions on penalties become effective as may be set out in any
amendment to CSDR Delegated Regulation II).

“CSDR Delegated Regulation II" means Commission Delegated Regulation (EU)
2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 with regard
to regulatory technical standards on settlement discipline (as amended from time to
time).

“Intended Settlement Date" has the meaning ascribed to the term "intended
settlement date" in the CSD Regulation.

{(c}—_Without prejudice-toth isi f-th ial Clearing Provisi E
Pre} I 1p ig +
Clearing AG shall be entitled to enter int sf a hi tt
'g- i PA PA
P. (4) above i Clearing Merb: ISA Diract Ch Memb
grap! g g-

(2)Penatties i + of iti ithin-th pe-of the Penalty Regi fthe CSD

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Chapter II

3.6

Clearing of Options Contracts and Low Exercise Price Options on Shares

[J

Delivery and Payment Procedures

All physical deliveries of securities shall be made versus payment (Zug-um-Zug) on the
second Business Day after the exercise day (Austibungstag) of the option (for the
provisions under this Number 3.6, the “Contractual Settlement Date”).

Each Ch g Memb: JF Ch AG a that the dispositi

le-busi b: hich. for-fulfilment-of the-t i be

en-All Clearing
Members must ensure their ability to effect deliveries and payments thereof through
sufficient deposits in the securities account with the respective Settlement Location and
credit balances in the respective cash accounts.

Reference Price
[el

(2) The reference price shall be the official closing price of the respective underlying
security in the respective electronic trading system (Number 3.6.3 (1)). If no closing
price in the underlying security is effected, the volume-weighted average of the last
three ‘paid’ prices (Bezahit-Preise) of the respective underlying security effected in

the electronic trading system of the respective Stock Exchange-stock exchange shall
be authoritative.

Failure to Deliver

In the event that a Clearing Member fails to deliver the underlying security on the delivery
day-Contractual Settlement Date (as per Number 3.6.1) until the respective settlement
cut-off time for the Settlement Location according to the instructions of Eurex

Clearing AG, & Clearing AG shall tak ser ith-the provisions of
Chapter V Part 2 Number 2.2>the-provisions-on the-contractual penalty setoutin
Chapter Part Number +44 (2) shall apply accordingly. Fore-non-delivery-of shares

d-by-Article-15-of Regulation (EU)-236/2042 hort m
g 'g-

scription rights from: tT i ith Opti Contracts_with-th igned

group 1Ds. GB14 and JE44, Number 3.6-7 shall apply_This Number 3.6.6 does not apply
in case of securities resulting from Options Contracts or LEPOs with the assigned group
ID GB11 and IE11.

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(d) For conclusion of such Obligation-Assumption of Debt Agreement, Eurex
Clearing AG herewith authorises the Clearing Member to whom delivery is to be
made vis-a-vis the defaulting Clearing Member in its name to waive the claim of
Eurex Clearing AG for delivery of the shares in the amount of the number of
shares to be delivered agreed upon by both Clearing Members as well as all
current or future secondary rights related thereto with debt-discharging effect.

notapply.

(e) Eurex Clearing AG sets a deadline for both Clearing Members of at maximum
ten Business Days within which the Obligation Assumption of Debt Agreement
may be legally signed by them. In this case, both Clearing Members shall inform
Eurex Clearing AG about the conclusion of an assumption until 10 a.m. CE(S)T
of the Business Day following the last day of the deadline set by Eurex
Clearing AG at the latest (foreclosure) by presenting the legally signed
Obligation-Assumption of Debt Agreement to Eurex Clearing AG.

(f) In case a legally signed Obligation-Assumption of Debt Agreement of the
respective Clearing Members has not been presented to Eurex Clearing AG
within the foreclosure according to Paragraph (3) (e) Sentence 2, Eurex
Clearing AG shall determine a cash settlement with regard to the shares not
having been delivered in time by the defaulting Clearing Member with the legal
consequence that the fulfilment obligation of the defaulting Clearing Member
vis-a-vis Eurex Clearing AG from this non-fulfilled Eurex Transaction expires
with debt-discharging effect. Instead, the defaulting Clearing Member is obliged
to pay the cash settlement determined by Eurex Clearing AG to Eurex
Clearing AG.

The same applies in this case with regard to shares of the same kind owed by
Eurex Clearing AG to one or several other Clearing Members to the extent
corresponding to the lot size of the shares owed and not having been delivered
in time by the defaulting Clearing Member to Eurex Clearing AG from the Eurex
Transaction. Chapter \V Part 2 Number 2.24 d Chapter V Part 2

(g) The amount of the cash settlement to be paid by the defaulting Clearing
Member to Eurex Clearing AG according to (3) f) shall be determined by
comparison between the settlement price of the cash settlement determined by
Eurex Clearing AG for the respective shares plus a surcharge in the amount of
100 per cent and the highest selling price and the highest purchase price in the
relevant Eurex Transactions respectively deliveries.

Led

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(iv) that no Eligible Margin Assets actually delivered to Eurex Clearing AG with
respect to any Optimised Transaction Netting Transaction, which is not
realised as such by Eurex Clearing AG during the Default Management

Process, will be directly returned to the Direct GlentDC Market
Participant; and

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Members must ensure their ability to effect deliveries and payments thereof through
sufficient deposits in the securities account at the respective depository institution:
Settlement Location and credit balances in the RTGS DCA, the euroSIC Account or
the SIC Account.

(2) Ll

All Clearing Members must ensure their ability to effect payments on the due date
thereof by having sufficient credit balances in the respective currency of the contract
in the account with a payment institution recegnised-accepted by Eurex Clearing AG
(available on the Eurex Clearing Website).

2.5.3 Fulfilment, Delivery

(1) In case of EXTF Futures Contracts to be fulfilled by cash settlement
(Number 1.4.2 (3) of the Eurex Contract Specifications), open positions from the last
trading day or the final settlement day, respectively, of a Futures Contract shall be
balanced on the Business Day following this day by means of a net payment
credited to or debited from the internal cash account of the Clearing Member
pursuant to Chapter | Part 1 Number 4.3. Such payment shall equal the difference
between the final settlement price of aFutures-Contract.an EXTF Futures Contract
and such contract's daily settlement price on the Business Day preceding the last
trading day. For positions opened on the last trading day, the booking amount shall
equal the difference between the final settlement price and the trading price.

(2) Incase of EXTF Futures Contracts to be fulfilled by physical delivery
(Number 1.4.2 (1) of the Eurex Contract Specifications), fulfilment can only take
place by delivery of the underlying share. securities. Consequently, there is an
obligation to take-delivery-incumbent-upen-accept delivery by the owner of a long
position of the respective-Single Steck Futures-Contract EXTF Futures Contract.

(3) If the last trading day of the EXTF Futures Contracts is the day-Business Day
preceding the day-Business Day on which the profits are distributed, the new owner
of the underlying security shall be entitled to the distribution. For EXTF Futures
Contracts whose underlyings are traded in the electronic system of FWB, this
applies including the relevant imputable tax amount.

2.5.4 Failure to Deliver

In the event that a Clearing Member fails to deliver the underlying security on the delivery
day-Contractual Settlement Date (as per Number 2.5.1) until the settlement cut-off time of
the respective Settlement Location according to the instructions of Eurex Clearing AG,

Ch ig AG shall take di it-Chapter V Part 2 Number 2.2;
the pi i th tractual penalty provided ths shall also-apply accordingly.

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2.7.3

2.7.5

2.9

2.9.2

Fulfilment, Delivery
[J

(2) Incase of Single Stock Futures Contracts to be fulfilled by physical delivery
(Number 1.6.2 (2) of the Eurex Contract Specifications), fulfilment can only take
place by delivery of the underlying share. Consequently, there is an obligation to
take-delivery incumbent upon-accept delivery by the owner of a long position of the
respective Single Stock Futures Contract.

Failure to Deliver

In the event that a Clearing Member fails to deliver any securities to be delivered on the
delivery-day-Contractual Settlement Date (as per Number 2.7.1) until the applicable
settlement cut-off time of the relevant Settlement Location according to the instructions of
Eurex Clearing AG, & Sleatec AG shaltak. eh iththe
provisions according to Chapter Vi Part 2 Number 2.2;the-provisions-onthe-contractual
penalty provided therein shall also-apply accordingly. In case of securities owed under
Single Stock Futures Contracts with group ID IEO2 the provisions of this Chapter || Part 3
Number 3.6.7 shall apply accordingly.

Corporate Actions

I f te-acti hich form-the-b: funderh hose-del hi;
PA ig ¥

tyet be ffected_the regulati The provisions with respect to corporate action
handling pursuant to Chapter V Part 2 Number 2.3 shall apply mutatismutandis
accordingly for securities whose delivery has not yet been effected. In case of securities
owed under Single Stock Futures Contracts with group ID E02 the provisions of this
Chapter II Part 3 Number 3.6.9 shall apply accordingy.

Clearing of Index Dividend Futures Contracts

td

Final Settlement Price

In case of extraordinary circumstances, especially if no data of SIX Swiss Exchange
are available due to technical problems, or if a determination of the final settlement
price for the SMI® Dividend Points by SWX-SIX Swiss Exchange is not possible due
to other reasons, Eurex Clearing AG may determine the final settlement price by
means of another procedure. Such procedure shall as far as possible correspond to
the procedure of SIX Swiss Exchange.

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Optimised Transaction Netting

(1)

To allow Transaction Netting across several Transaction Accounts of two or more
Direct Client DC Market Participants (“Optimised Transaction Netting”), the
Clearing Member of such Direct Client DC Market Participants can submit a request
to Eurex Clearing AG per Direet-Glient DC Market Participant, which shall participate
in the Optimised Transaction Netting (“Optimised Transaction Netting Request”).

An Optimised Transaction Netting Request shall always relate to all Transaction
Accounts relating to the relevant Direct Client DC Market Participant.

Upon the acceptance of an Optimised Transaction Netting Request by Eurex
Clearing AG with respect to the Transaction Accounts of a Direct Client DC Market
Participant, the following provisions shall apply:

(a) Whenever an order or quote is entered into the trading systems of FWB by the
relevant Direct Client DC Market Participant and such order or quote is matched
with another order or quote, the relevant FWB Transaction concluded between
Eurex Clearing AG and the relevant Clearing Member of such Direct-Client DC
Market Participant shall

(1

(c) After the acceptance of an Optimised Transaction Netting Request by Eurex
Clearing AG, Eurex Clearing AG will inform the relevant Direct Client DC Market
Participant about the legal consequences of the application of Opimized
Transaction Netting and the reduced level of protection in case of the
occurrence of a Termination with respect to the Clearing Member of the Direct
Glient DC Market Participant.

(d) By submitting the Optimised Transaction Netting Request with respect to a
specific Transaction Account relating to a Direct Client DC Market Participant,
the Clearing Member represents and warrants by way of an independent
guarantee and irrespective of fault (se/bstandiges, verschuldensunabhangiges
Garantieversprechen) to Eurex Clearing AG that the Clearing Member has
informed such Direct Glient DC Market Participant about the legal
consequences of the Optimised Transaction Netting, in particular about the
reduced level of protection in case of the occurrence of a Termination with
respect to the Clearing Member resulting in (inter alia):

Ll

(iii) that a potential Difference Claim in relation to the relevant Optimised
Transaction Netting Transactions, which is owed by Eurex Clearing AG will
not be directly returned to the relevant Direct Client DC Market Participant;

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3.6.7.2

Failure to Accept Securities

In the event a Clearing Member with respect to which Eurex Clearing AG owes the
delivery of Securities under an Options Contract on Shares and LEPOs, fails to enter the
required settlement instruction into the systems of Euroclear UK & International Ltd
Eurex Clearing AG shall be entitled to perform a cash settlement on the 21% Business
Day after the Contractual Settlement Date.

Upon performance of the cash settlement, the delivery obligation of Eurex Clearing AG
arising from the relevant Options Contract on Shares or LEPOs expires. Instead of the
delivery obligation, Eurex Clearing AG shall be obliged to pay to the Clearing Member the
determined cash settlement amount. Eurex Clearing AG shall be entitled to sell the
relevant Securities on the London Stock Exchange or Euronext Dublin. The provisions
under Number 3.6.7.1 Paragraph (2) shall apply accordingly with the exception that the
settlement price pursuant to Chapter V Part 2 Number 2.2.1 (3) (b) (aa) (i) of the Clearing
Conditions shall be replaced by the price for which Eurex Clearing AG sold the relevant
Securities on the London Stock Exchange or Euronext Dublin.

3.6.7.3 Failure to Deliver Rights

3.6.8

If the Clearing Member obliged to deliver subscription rights or other rights resulting from
the Securities does not deliver such rights prior to expiration of the subscription period,
Eurex Clearing AG shall be entitled to perform a cash settlement on the 21% Business
Day after the Contractual Settlement Date with respect to the rights. Chapter V Part 2
Number 2.2.1 (3) (b) und (c) of the Clearing Conditions shall apply accordingly.

Corporate Actions

In case of corporate actions relating to underlyings of Options Contracts on Shares and
LEPOs covered by this Number 3.6, provided that the delivery of those underlyings has
not yet been effected, the regulations pursuantte-_provisions under Chapter V Part 2
Number 2.3 shall apply mutatis mutandis. Each cash settlement claim resulting out of
measures in connection with corporate actions shall become due and payable on the first

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24 Daily Assessment[Deleted
4) Fi h-deliveryi ti d-tights-which-h: -yet-been fulfilled_gai d
¥ ig ¥ gi
r th tive Busi Day_shall-be-determined_and_balanced_against
P y ig
the-depesited ities -For_all- deliver -having- been fulfilled yat_th "
p - ig yet
th ities 1o-be deposited is determined _by_the-diff bet the pri
iP y P
thet i d-the-daily_settl t price-of the Busi D.
P ye
{2)}The-daily-setth t price shall be-determined by Eurex_Clearing AG after cl f
P sg
tradi d-shall-be ted-to the Clearing Memb.
2.5 Transaction Netting
[1
2.5.1 General provisions
[1
(2) A"Netting Unit" comprises all FWB Transactions meeting the following
requirements:
LJ
(d) all such delivery obligations relate to shares,-securitiesSecurities, rights or
other instruments ("Relevant Securities"), in each case with the same ISIN (or
other securities identification number),
[1
Ld
2.5.4 Discharge of the Delivery Obligations to be performed under the FWB Transactions

resulting from Netting and Aggregation

(1) The settlement of the FWB Transactions resulting from Netting and Aggregation
pursuant to Number 2.5.2 (2) and Number 2.5.2 (3) between Eurex Clearing AG and
the relevant Clearing Member shall occur on the date folowing two Business Days.

fer the Trade Date if net specified oth "Settl t Date")-Contractual

Settlement Date and is effected by the relevant Settlement Location processing the
relevant delivery instructions (including any relevant payment instructions).

(2) In addition to the settlement confirmation submitted by the relevant Settlement
Location to the holder of the relevant settlement account, Eurex Clearing AG will
inform the Clearing Member of the settlement status of each such FWB Transaction
at the end of each relevant Settlement Date-settlement day by submitting a
settlement report ("Settled Delivery Report"). If the Transaction Netting has
resulted in a Strange Net pursuant to Number 2.5.2 (2) (b) (i) (IV), the Settlement
Delivery Report will include such Strange Net and will specify such Strange Net as
“settled”.

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3.9

3.9.1

3.9.5

3.11

(5) Eurex Clearing AG shall implement corporate actions for its Clearing Members if the
respective assignment obligation resulting from the corporate action cannot be
fulfilled in the system of Euroclear UK &4reland International Ltd. In this case, Eurex
Clearing AG shall inform the respective Clearing Members about the fact that the
implementation and settlement of the respective corporate action is made by Eurex
Clearing AG according to the instructions of Eurex Clearing AG. [...]

(6) If a corporate action is implemented by Euroclear UK & /refand_International Ltd or
by Eurex Clearing AG — such corporate action not being regulated by
aforementioned provisions — Clearing Members are obliged to assign the concerned
shares to Eurex Clearing AG according to the latter’s instructions. ]

Clearing of Options Contracts on Xetra-Gold®
[-l

Delivery and Payment Procedures

Physical deliveries of securities shall be made versus payment (Zug-um-Zug) on the
second Business Day after the last trading day of the contract (Number 2.9.12 of the
Eurex Contract Specifications) (for the provisions under this Number 3.9, the
“Contractual Settlement Date”). This shall also apply if the exercise is not assigned to
the granter writer until the Business Day following exercise.

Physical deliveries of securities shall be made through a Settlement Location; payments
shall be settied-via-made through the account specified by such Settlement Location.

tl

Failure to Deliver

In the event that a Clearing Member fails to deliver any securities to be delivered on the
delivery date-Contractual Settlement Date until the applicable settlement cut-off time of
the relevant Settlement Location (as per Number 3.9.1) according to the instructions of
Eurex Clearing AGE: Clearing AG shall-tak: i d ith Part
Number 2.3.5-4) the provisions of Chapter V Part 2 Number 2.2 shall apply accordingly.

Clearing of Options Contracts and Low Exercise Price Options on Exchange-
Traded Commodities Securities

tl

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Chapter II

L.

]

Settlement Date until the applicable settlement cut-off time of the relevant Settlement
Location (“Settlement Cut-Off Time”), Eurex Clearing AG shall be entitled totake
the following measures:

= EurexClearing AG is-entitledto-obtain by means of securities lending the notified
debt securities and deliver them to the Clearing Member which did not receive
delivery in time.

= EurexClearing AG is-entitiedto-designate debt securities from the basket of
deliverable debt securities other than those notified as debt securities to be
delivered and to deliver such debt securities to the Clearing Member which did
not receive delivery in time. The Clearing Member in default has to deliver the
debt securities designated by Eurex Clearing AG to Eurex Clearing AG. Eurex
Clearing AG is entitled to obtain the notified designated debt securities by means
of securities lending and deliver them to the Clearing Member which did not
receive delivery in time.

= Inth t that the debt ities tobe -delivered + dali to E:

Clearing AG-shall-be-entitled-t kK " " hi ith respect-to thi

delivered-debt ities-Such-purch titutes-a-b ferred-t
purchase. initiate a buy-in within the meaning of Chapter | Part 1 Number 1.4.4.1
if the debt securities have not been delivered at the latest on the 5" Business Day
following the Contractual Settlement Date until the Settlement Cut-Off Time. The
provisions of Chapter V Part 2 Number 2.2 of the Clearing Conditions in relation
to fixed income securities shall apply accordingly.

(3) The defaulting Clearing Member shall bear the costs arising from measures taken

(4)

pursuant to Paragraph (1). For the avoidance of doubt, in case Eurex Clearing AG
initiates a buy-in according to Paragraph (1), the provisions on fixed income
securities in Chapter V Part Il Number 2.2.1 (2) (a) and (b) of the Clearing
Conditions apply accordingly.

In case of a failure to deliver debt securities, the Clearing Member which did not
deliver the debt securities in time shall pay a contractual penalty in accordance with
the following provisions:

(a) Ifa Clearing Member fails to deliver debt securities on the delivery-day
Contractual Settlement Date until 14:15 CE(S)T, but is able to deliver such debt
securities until the respective End-of Seth {-time-(as-published by E

applicable Settlement Cut-Off Time, such Clearing Member shall pay to Eurex
Clearing AG a contractual penalty in the amount of 0.04 per cent of the nominal
value of the non- delivered debt securities.

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Chapter II

2.5.5

Corporate Actions

| f te-acti hich form-the-b: f-underk hose-del hi:
Pt ig ¥

tyetb fected the-regulations-The provisions pursuant to Chapter V Part 2
Number 2.3 shall apply-wxtatis mutandis accordingly for securities whose delivery has
not yet been effected.

Clearing of Single Stock Futures Contracts
Ll

Delivery and Payment Procedures
(1) Ll

All Clearing Members must ensure their ability to effect payments on the due date
thereof by having sufficient credit balances in the respective currency of the contract
in the account with a payment institution recognised-accepted by Eurex Clearing AG
(available on the Eurex Clearing Website).

(2) Incase of Single Stock Futures Contracts to be fulfilled by physical delivery
(Number 1.6.2 (2) of the Eurex Contract Specifications), physical deliveries and
payments are-shall be made versus payment (Zug-um-Zug) on the second Business
Day (unless otherwise specified) after the last trading day of the Single Stock
Futures Contracts (Number 1.6.2 (1) of the Eurex Contract Specifications) (for the
provisions under this Number 2.7, the “Contractual Settlement Date’).

The physical deliveries are made via-through a Settlement Location and the payment
is made via-through the account defined-specified by the respective-Settlement
Location.

All Clearing Members shall ensure their ability to deliver and pay by having adequate
positions in the depesit-ef account at the respective Settlement Location and credit

on the according_ respective cash accounts.

Final Settlement Price
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(2) The reference for determination of the final settlement price is the closing price
of the respective underlying security in the respective electronic trading system
(Number 2.7.2 (1)). If no closing price in the underlying security is effected, the
volume-weighted average of the last three ‘paid’ prices (Bezahlt-Preise) of the
respective underlying security effected in the electronic trading system of the
respective Stock Exchange-stock exchange shall be authoritative.

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