Internal RATE

PD

PD range

S&P'S

Grade description

IFRS9 Staging

A+

0.00%

0.00%

AAA

Investment Grade

A+

0.00%

0.00%

AA+&AA

Investment Grade

A

0.01%

< 0,01%

Investment Grade

B+

0.02%

0,02 - 0,04%

AA-

Investment Grade

B+

0.02%

0,02 - 0,04%

A+

Investment Grade

Stage 1

B

0.06%

0,04 - 0,08%

A

Investment Grade

B

0.06%

0,04 - 0,08%

A-

Investment Grade

C+

0.16%

0,08 - 0,16%

BBB+

Investment Grade

C

0.30%

0,16 - 0,32%

BBB

Investment Grade

C-

0.60%

0,32 - 0,64%

BBB-

Investment Grade

D+

0.75%

0,64 - 0,85%

BB+

Non-Investment Grade

D

1.25%

0,85 - 1,28%

BB

Non-Investment Grade

Stage 2

D-

1.90%

1,28 - 2,56%

BB-

Non-Investment Grade

E+

5.00%

2,56 - 5,12%

B+&B

Non-Investment Grade

E

12.00%

5,12 - 15%

B-

Non-Investment Grade (Watchlist)

Stage 2 or 3

E-

20.00%

> 15%

CCC&C

Non-Investment Grade (Watchlist)

F

100.00%

100.00%

D

Default (without legal action).

Stage 3

Z

100.00%

100.00%

D

Default (with legal action).