3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite [Figure 6: E&P peer group bond performance Group Bond Key Basins Uihedged Net ley (as 003 17) Price 1943ac-17 V1W OAS ilki-Clec IS rim? OAS Higher Quality -Oil CLR 4.5%'23 Walston 8 Anadarko 3.4x 102.3 4.00 179 4.910 278 PAM 4.75%'24 Porn 1n 1.58 100.8 4.57 213 5.06 263 tiFX 5.625%74 Anadarko 2.1x 108.0 4.21 193 435 253 FE 525%R4 Permian 2.1x 105.5 4.86 248 5.13 282 Average 2.3x 441 208 6.01 2119 Higher Quality -Gas AR 5.625% '23 Appabchia 3.9x 104.0 4.36 215 4.86 271 RRC 5.00% '23 Ape/dad-ea 4.0x 98.5 5.33 312 5.12 289 GFCR 6.625%73 Appalachia 2.7x 102.0 5.96 378 522 327 Fay etlov ific & SWN 4.95% 75 Appabclwi 29x 103.8 6.02 371 629 394 _ Average 3.4x 5.42 319 6.40 320 Spread vs Nigher Quality Oil 1.01 111 0.39 51 Mid Quality -Oil CF1Z0 625% '23 Eagle Ford & Rtg nion 321 103.0 5.25 311 539 330 LR 6.25%'23 111Ingin 1.6x 103.3 5.14 3O2 492 290 CEP 5.25%'23 Wanton 8 %Fusin 3.3x 101.0 5.03 280 525 303 OAS 6.875%73 1Aileton 3.8x 102.3 591 383 5.89 393 SIM 850%'23 Eagle Ford 8 Fbrrrian 4.6x 102.3 5.53 344 5.40 343 1ALL 6.25% '23 Weston 4.1x 100.8 6.07 386 6.15 396 1APX 5.25%'24 Fbrrrian 8 Waelcer 4.0x 99.0 5.43 313 582 346 Average 3.6x 6.48 331 5.55 343 Spread vs Higher Quality 011 1.07 123 0.54 74 Lower Quality -Oil eac 7.0%'22 al Basin 224 102.0 621 411 792 583 San Joaquin 8 Los CPC 6.0%'24 Angeles Basin 7.3x 69.0 1242 1063 11.07 874 Gut Coast MR 4.625%73 Rocky Mountain 7.0x 63.0 14.56 1234 8 4 616 EPE 6.375% '23 Eagle Ford a PouTian 7.3x 52.0 26.02 2390 10 99 880 lisEG Canadian a Sands 7.4x 85.0 10.30 805 8 79 651 SN 6.125% '23 Eagle Ford 4.5x 83.8 10.32 814_ 7.05 — — --- 490 Average 13.39 882 6.2x 1120_ 9.04 Spread vsHigher Quality0d 8.98 911 4.03