<table><tr><th>From:</th><th>Barrett, Paul S</th></tr><tr><td>Sent:</td><td>Friday, February 1, 2013 4:41 PM</td></tr><tr><td>To:</td><td>Epstein, Jeffrey (jeeyacation@omail.com)</td></tr><tr><td>Cc:</td><td>Ens, Amanda; Weissend, Renee E</td></tr><tr><td>Subject:</td><td>Brent options</td></tr></table>

Jeffrey=/o:p>

<=0:p>

These strikes a=e fairly wide – roughly $20 wide either side of spot. We had trade= prior options based on 100,000 bbls
per maturity.

=0D

=0A

=p class="MsoNormal">Buy call / sell put / cashless</=:p>

=OD
Contract 4=pan>

Option Expiry

=eference Rate</=>

Put=strike

=OD Call Strike

July13

=OA 10Jun2013=/span>

=p class="MsoNormal">113.504=:p>

94.00

=0A133.50

Aug13</=pan>

11Jul2013aspan>

112.75=span style="font-size:11.0pt;font-family:"Calibri","san=-serif"">

92.00

=0D 133.50

=0A
Se=13

=td width="160" valign="top" style="width:119.7pt;border:none;borde=-bottom:solid #7BA0CD
1.0pt;background:#D3DFEE;padding:0in 5.4pt 0in 5=2E4pt">

12Aug2013

112.00

90.=0

133.50

=0D

Paul Barrett | Managing Di=ector | Global Investment Opportunities Group | J.P. Morgan Private=Bank |
3=0 Park Avenue, 14th Floor, New York, NY 10022 | T: 
NMLS ID:

=0D

This email is confidential and subject to important disclaime=s and conditions including on offers for the purchase or sale of securitie=, accuracy and completeness of information, viruses, confidentiality, lega= privilege, and legal entity disclaimers, available at http://www.jpmorg=n.com/pages/disclosures/email.