FX Hedging Program

6-currency program · $287M notional hedged · 89.4% effectiveness

AS OF

Mar 17, 2026 · 09:42 EST

TOTAL NOTIONAL HEDGED

$287.4M

USD equivalent

HEDGE RATIO

82.3%

Policy target: 75–85% ✓

IFRS 9 EFFECTIVENESS

89.4%

Min threshold: 80% ✓

UNREALIZED MTM GAIN

+$4.2M

Mark-to-market

HEDGE BOOK BY CURRENCY

CCY

EXPOSURE

NOTIONAL HEDGED

HEDGE %

AVG FWD RATE

MTM P&L

STATUS

EUR

€124.5M

€102.1M

82.0%

1.0821

+$1.8M

GBP

£38.2M

£32.0M

83.8%

1.2654

+$0.9M

CAD

CAD 91.0M

CAD 68.0M

74.7%

0.7382

-$0.3M

MXN

MXN 285M

MXN 220M

77.2%

0.0512

+$1.1M

SGD

SGD 45M

SGD 36M

80.0%

0.7418

+$0.4M

BRL

BRL 180M

BRL 122M

67.8%

0.1890

+$0.3M

⚠ BRL hedge ratio 67.8% is below the 70% policy floor. Action required: add BRL 25M notional to restore compliance.

POLICY COMPLIANCE — Q1 2026

Hedge ratio 82.3% — within policy band 75–85%

BRL hedge ratio 67.8% — BELOW 70% floor

Max single maturity concentration: $48.2M vs limit $60M

Counterparty credit (NCB): fair value exposure $2.8M vs limit $10M