Credit Committee

As part of our commitment to total transparency, the structure and voting process of the Analysis Committee responsible for determining any rating is available to everyone

Structure

The Analysis Committee consists of the following persons, presented in the order in which they vote:

• Analysis Manager

• Analysis Director

• Analysis Executive Director

• Chief Credit Officer

• Where appropriate, the Chief Officer of Economic Analysis

Voting

Decisions will be passed by absolute majority, meaning by the vote of half plus one of the members in attendance at the Analysis Committee meeting. No member of the Analysis Committee may be pressured to vote any given way by other members holding a higher rank.

Situations in which the Analysis Committee may be convened

• When a rating action is required.

• When any relevant event occurs that could impact any current rating.

• When an opinion is to be issued for any industry sector.