INSTRUCTION A02/2014

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INSTRUCTION A02/2014Price List7.November.2019

OMIClear Instruction A02/2014Price ListVersions Index11.Apr.2014Initial version. Revokes OMIClear Notice 03/2010 – Price List.1.Feb.2015Modification of the Price List, including: modification of the structure regarding the Fees on transactions inFutures, Forwards and Swaps .which depend on the monthly traded volume (now including 3 tiers of volumeinstead of 2). Clarification on the calculation of the reference monthly volume underlying the fee rate Modificationof Fees on transactions in Option contracts; elimination of the explicit maximum limit on the applicable fees forBilateral Transactions or Transfers within the scope of a company reorganization; elimination of section referringto Collateral Certificates Service, following the revoke of the OMIClear Instructions related with such Service;inclusion of fees on the EMIR Reporting Service provided by OMIClear – new section V.1.Sep.2015Eliminated the credits of information systems.1.Feb.2016Modification of Admission and Maintenance Fees; modification of Clearing Fees; modification of CollateralCustody fees; elimination of previous Section III (Capacity Usage Rights in the Natural Gas Transmission andInfrastructure Network (DUCg); inclusion of settlement procedures relative to the Reporting to Trade RepositoriesService (EMIR Reporting Service).14.Mar.2016Elimination of the provisions related to the custody and movements of bank guarantees or credit lines.13.May.2016Modification of the Service provided by OMIClear from “MIBEL Derivatives Market” to “Service on PowerDerivatives Contracts”24.Nov.2017Inclusion of fees applicable to Natural Gas Derivatives Contracts registered in OMIClear through OMIPDerivatives Market. Update of the annual fee regarding the access to OMIClear FTP, separating between powersegment and natural gas segment.17.Apr.2018Update of the Instruction following the extension of the Service on Natural Gas Derivatives Contracts to MIBGASDerivatives S.A.9.Jan.2019Modification of Tables 2, 3 and 5, following the update on the registration modes of Transactions in Natural GasDerivatives Contracts at OMIClear through MIBGAS Derivatives S.A. (now allowing the registration of BilateralTransactions). Modification of the conditions when a Participant ceases its activity in OMIClear.9.Jan.2019Update of the Instruction following the extension of the Service on Natural Gas Derivatives Contracts to MIBGASS.A.7.Nov.2019Extension of the current custody fee (applicable to securities deposited as Collateral) to the cash Collateral.OMIClear Instruction A02/2014 – Price List1

OMIClear Instruction A02/2014Price ListDISCLAIMERThe English language text below is not an official translation and is provided for information purposes only. Theoriginal text of this document is in the Portuguese language (available in www.omiclear.eu ) and it was registeredby the Portuguese Securities Market Commission (Comissão do Mercado de Valores Mobiliários). In the event ofany discrepancies between the English translation and the Portuguese original, the Portuguese original shallprevail. Whilst every effort has been made to provide an accurate translation we are not liable for the proper andcomplete translation of the Portuguese original and we do not accept any liability for the use of, or reliance on, theEnglish translation or for any errors or misunderstandings that may derive from the translation.This document is available in www.omiclear.eu Copyright 2019OMIClear, C.C., S.A.OMIClear Instruction A02/2014 – Price List2

OMIClear Instruction A02/2014Price ListPursuant to its Rulebook, OMIClear approves this Instruction, which publishes the updated version ofits Price List.Through this Instruction, OMIClear publishes the “Price List” in attachment, which sets the feescharged to Participants and other users of its Services.Entry into EffectthThis Instruction enters into effect November, 7 2019.The Board of DirectorsOMIClear Instruction A02/2014 – Price List3

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Price List7.November.2019

Versions Index11.Apr.2014Initial version. Revokes OMIClear Notice 03/2010 – Price List.1.Feb.2015Modification of the Price List, including: modification of the structure regarding the Fees on transactions inFutures, Forwards and Swaps .which depend on the monthly traded volume (now including 3 tiers of volumeinstead of 2). Clarification on the calculation of the reference monthly volume underlying the fee rate Modificationof Fees on transactions in Option contracts; elimination of the explicit maximum limit on the applicable fees forBilateral Transactions or Transfers within the scope of a company reorganization; elimination of section referringto Collateral Certificates Service, following the revoke of the OMIClear Instructions related with such Service;inclusion of fees on the EMIR Reporting Service provided by OMIClear – new section V.1.Sep.2015Eliminated the credits of information systems.1.Feb.2016Modification of Admission and Maintenance Fees; modification of Clearing Fees; modification of CollateralCustody fees; elimination of previous Section III (Capacity Usage Rights in the Natural Gas Transmission andInfrastructure Network (DUCg); inclusion of settlement procedures relative to the Reporting to Trade RepositoriesService (EMIR Reporting Service).14.Mar.2016Elimination of the provisions related to the custody and movements of bank guarantees or credit lines.13.May.2016Modification of the Service provided by OMIClear from “MIBEL Derivatives Market” to “Service on PowerDerivatives Contracts”24.Nov.2017Inclusion of fees applicable to Natural Gas Derivatives Contracts registered in OMIClear through OMIPDerivatives Market. Update of the annual fee regarding the access to OMIClear FTP, separating between powersegment and natural gas segment.17.Apr.2018Update of the Instruction following the extension of the Service on Natural Gas Derivatives Contracts to MIBGASDerivatives S.A.9.Jan.2019Modification of Tables 2, 3 and 5, following the update on the registration modes of Transactions in Natural GasDerivatives Contracts at OMIClear through MIBGAS Derivatives S.A. (now allowing the registration of BilateralTransactions). Modification of the conditions when a Participant ceases its activity in OMIClear.9.Jan.2019Update of the Instruction following the extension of the Service on Natural Gas Derivatives Contracts to MIBGASS.A.7.Nov.2019Extension of the current custody fee (applicable to securities deposited as Collateral) to the cash Collateral.OMIClear Instruction A02/2014 – Price List1

Table of ContentsI – GENERAL PROVISIONS . 3I.1. – Definitions . 3I.2. – OMIClear’s Financial Settlement Breakdown . 3I.3. – Discount Policy and Promotions . 4I.4. – VAT, Invoicing and Payments . 4II – SERVICE ON POWER DERIVATIVES CONTRACTS AND SERVICE ON NATURAL GASDERIVATIVES CONTRACTS . 5II.1 – Admission and Maintenance Membership Fees . 5II.2 – Transaction and Transfer Fees . 6II.3 – Fees for Opening and Maintaining Accounts . 9II.4 – Collateral Custody Fees . 11II.5 – Fees on Guarantees Movements . 11II.6 – MiClear Clearing Platform User Licenses . 12II.7 – Access to Files with Clearing Information . 13II.8 – Access Technology to Clearing Systems . 13II.9 – Reorganisations and Termination of Activity . 14II.10 – Training . 14II.11 – Certification Exams. 14II.12 – Reporting Service to Trade Repositories . 15III – ENTRY INTO EFFECT . 15OMIClear Instruction A02/2014 – Price List2

OMIClear Price ListThis Price List presents the fees owed to OMIClear by its Participants and other users of its Services.I – GENERAL PROVISIONSI.1. – Definitions1. Where a calculation of fees or values on an annual pro-rata basis is mentioned in this Price List, itis meant that the value for that year is determined on a daily basis, proportional to the periodbetween a given moment, henceforth “reference date”, and 31 December of that year.2. Where not stated to the contrary:a) The payment or refund of amounts by/to the Participants is, where possible, done throughOMIClear’s financial settlement via Target2 payment system (FS Target);b) Notwithstanding the principle established in the preceding paragraph, where an Entity orParticipant does not have agreements or the capacity to participate, even if through aClearing Member or Financial Settlement Agent, in the FS Target, the payment or refundof the amounts is done via bank transfer (TRF).3. Henceforth, “FS Target M 1” shall be taken to mean the settlement of fees and other amountsmade through OMIClear’s financial settlement via Target2 payment system , with value date untilthe 5th Clearing Day of the month following the “reference date” or, failing this, of the monthfollowing the time when the amount is due.4. Henceforth, “TRF M 1” shall be taken to mean the settlement of fees and other amounts notmade through the FS Target, either because it is due by Entities that do not have such capacity, orbecause the operational conditions are not yet in place to do so. In this case, settlement is madevia bank transfer until the 10th Clearing Day of the month following the “reference date” or, failingthis, of the month following the time when the amount is due.5. In order to standardise procedures, where no clear reference is made, the settlement of fees orthe return of fees by/to the Participants is made through a “Monthly FS Target”, and where this isnot possible, under the preceding paragraph, through a “TRF M 1”.6. OMIClear reserves the right to amend this Price List at any time, and if the amendment implies:a) An increase in the fees or costs for Participants, the entry into effect shall take placewithin no less than 20 Clearing Days after its publication;b) The introduction of new products or services, within no less than 5 Clearing Days.I.2. – OMIClear’s Financial Settlement Breakdown7. All debits qualifying for OMIClear’s financial settlement through Target2 payment system (FSTarget) are broken down for the debtor Participant or debtor’s representative, through acommunication sent until the Clearing Day before the value date of settlement. No breakdown issent to its Financial Settlement Agent, if any.OMIClear Instruction A02/2014 – Price List3

I.3. – Discount Policy and Promotions8. OMIClear may apply the Price List differently to all or to a certain type of Participant, for e.g.,Market Makers, in particular by granting discounts that may amount to the total of the amounts setherein.9. OMIClear may also develop specific one-off promotions located in time, geared to specificcustomer segments; this, however, will not be reflected in this Price List.10. Similarly, OMIClear may grant loans to cover the fees charged for services provided, which, due totheir greater stability, will be detailed in this Price List.11. Discounts, credits and promotions referred to in the preceding paragraphs may directly affect theamounts charged or be made through reimbursements, under the conditions defined by OMIClearon a case-by-case basis.I.4. – VAT, Invoicing and Payments12. The amounts shown in this Price List are subject to VAT at the legal rate in force in Portugal.13. No VAT is paid by non-resident Entities, provided that they prove that they are registered for VAT1in their own country .14. Unless specifically provided otherwise, the amounts expressed in this Price List will be invoiced byOMIClear to the Entities responsible for their payment.15. OMIClear sends the Entities the invoices/receipt during the first 5 (five) Clearing Days of eachmonth relating to the fees collected during the previous month and the reimbursements to whichthey are entitled.1Article 6(9)(a) and (b) of the VAT Code.OMIClear Instruction A02/2014 – Price List4

II – SERVICE ON POWER DERIVATIVES CONTRACTS AND SERVICE ONNATURAL GAS DERIVATIVES CONTRACTSII.1 – Admission and Maintenance Membership FeesDefinitions16. The amounts shown in the Table below are charged by OMIClear for the admission andmaintenance of the capacity of Participant.Table 1: Annual Admission and Maintenance FeesAdmissionMaintenance(Annual)Direct Clearing Member10 00010 000General Clearing Member15 00015 000OTC Broker (IOTC)00Registration Agent00Financial Settlement Agent00Physical Settlement Agent00Type of AgentUnits: Euro17. Clearing Members assuming the role solely for the purpose of purchasing FTR Contracts in FTRAuctions, and of Transmission System Operators operating in the same Service are exempt frompaying admission and maintenance fees.Processing18. The admission fee is payable when OMIClear informs that the membership has been accepted,and the maintenance fee for that year will be calculated on an annual pro-rata basis establishedon the admission date.19. OMIClear will invoice the admission and maintenance fees referred to in the preceding paragraph,to be settled on a “monthly MS” the reference date of which will be the last day of the third monthafter the month of admission.20. If the Entity, on or before the reference date referred to in the preceding paragraph, is no longer aParticipant, no amount is payable for the admission and maintenance of such capacity.21. If an Entity ceases a given category of participation, it may recover part of the maintenance feethat has already been paid, this recovery being established on a pro-rata basis counted from thelast day of the month following the time it leaves the category.22. The Participants’ maintenance fee is payable on the first day of each calendar year, settled inaccordance with paragraph 3 (FS Target M 1).OMIClear Instruction A02/2014 – Price List5

II.2 – Transaction and Transfer FeesPower Derivatives Contracts23. For each Transaction registered on the Clearing Platform, the fees presented in Tables 2 and 3are charged, in Euro per MWh. These fees refer to Transactions on Power Derivatives Contractsthat are listed in OMIClear’s Instruction B14/2014 – Eligible Contracts.Table 2: Clearing Fees regarding Transactions on Futures, Forward and Swap PowerContractsClearing FeeTransaction TypeVM* 1,5 TWh1,5 TWh VM* 3TWh3 TWh VM*Continuous Trading in OMIPDerivatives Market0,0070,0050,0025Call Auction in OMIP DerivativesMarket0,0070,0070,007Bilateral Transactions (betweendifferent owners)0,0070,0050,0025Free of chargeFree of chargeFree of chargeRegistration of Transfer or BilateralTransaction ** between the sameownerUnits: Euro/MWh* MV – Monthly Volume (calculated independently for transactions made through Continuous Trading and for those OperationalTransactions registered in OMIP Derivatives Market).Table 3: Clearing Fees regarding Transactions on Futures Option ContractsTransaction TypeContinuous Trading in OMIP Derivatives MarketCall Auction in OMIP Derivatives MarketBilateral Transactions (between differentowners)Registration of Transfer or Bilateral Transaction** between the same ownerClearing Fee0,005(max. 10% Premium)0,005(max. 10% Premium)0,005(max. 10% Premium)Free of chargeUnits: Euro/MWh.24. As regards FTR Contracts:a) No clearing fees are owed regarding buying Transactions carried out by RegistrationAgents, nor selling transactions carried out by Transport Network Operators, in FTRAuctions;b) As regards other Transactions, the fees shown in Table 2 are payable, applied to thenominal value of the Transaction.OMIClear Instruction A02/2014 – Price List6

25. The calculation of fees for Transactions or transfer operations on power Futures Option Contractsis done by reference to the nominal value of the Underlying Asset.26. As referred in Table 3, the clearing fees for transactions on Futures Option Contracts are set at0,005 /MWh, but may not be more than 10% of the Premium.27. No exercise fees are charged, but if settlement by physical delivery of the Underlying Asset takesplace, the respective fees will apply. In this sense a clearing fee will be charged to both the buyerand the seller of the Option.28. The information regarding the transfer or a registration of Bilateral Transaction between accountsof the same owner, presented in Tables 2 and 3 apply to Positions registered in accounts held bythe same owner. If this is not the case, the price list in the same Tables relating to the registrationof Bilateral Transactions between different owners will apply.29. No clearing fee is charged in case of Transactions traded or registered in OMIP DerivativesMarket on Power Derivatives Contracts that have been cancelled.30. OTC brokers acting in that capacity are exempted from registration, clearing and physical deliveryfees.31. Registration Agents that register Transactions on Power Derivatives Contracts with settlement byphysical delivery (physical Futures Contracts and Forwards) assume the payment obligationregarding the physical delivery fees referred to in Table 4 before OMIClear, in Euro per MWh,based on the net balance calculated on a Power Physical Registration Account level, per Contractand each day of the respective Delivery Period.Table 4: Physical Delivery Fees applicable to net Positions under delivery regarding thePower Derivatives Contracts with settlement by physical deliveryPosition TypePosition on Power Derivatives Contracts withsettlement by physical deliveryPhysical Delivery Fee0,01Units: Euro/MWh32. Regarding Power Futures and Swap Contracts with settlement by financial delivery, no deliveryfees apply.Natural Gas Derivatives Contracts33. For each Transaction registered on the Clearing Platform, the fees presented in Table 5 arecharged, in Euro per MWh. These fees refer to Transactions on Natural Gas Derivatives Contractsthat are listed in OMIClear’s Instruction B14/2014 – Eligible Contracts.OMIClear Instruction A02/2014 – Price List7

Table 5: Clearing Fees regarding Transactions on Natural Gas Derivatives ContractsTransaction TypeClearing FeeContinuous Trading (via MIBGAS Derivatives S.A. and MIBGAS S.A.)0,007Call Auction (via MIBGAS Derivatives S.A. and MIBGAS S.A.)0,007Bilateral Transactions between different owners (via OMIP or MIBGASDerivatives S.A.)0,007Registration of Transfer or Bilateral Transaction between the sameownerFree of chargeUnits: Euro/MWh34. The information regardin

OMIClear Instruction A02/2014 Price List Versions Index 11.Apr.2014 Initial version. Revokes OMIClear Notice 03/2010 – Price List. 1.Feb.2015 Modification of the Price List, including: modification of the structure regarding the Fees on transactions in Futures, Forwards and Swaps .which depend on the monthly traded volume (now including 3 tiers of volume instead of 2). Clarification on the .

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