31.15% p.a.

Phoenix Autocall
Carnival, Norwegian Cruise, Royal Caribbean
Memory Stepdown Low Strike USD

Product Reporting as of 21 June 2023

50% REDEEMED 31.15% p.a.

Low Strike Level Memory Coupon

ISIN: XS2396246931 Product Valuation: -

Currency: USD Total Coupon Paid: 7.7875%
REDEEMED IN CASH
Issuer: BNP Paribas Product Perf: +7.7875%
100% + 7.7875%

Underlying Price Initial Current Low Strike Distance Coupon Distance Autocall Distance
Name Level Fixing Price Level (50%) Barrier (60%) Trigger (99%)

Carnival Corp
103.27% 8.87 9.16 4.44 51.53% 5.32 41.92% 8.78 4.15%
[ CCL ]

Norwegian Cruise Line

Holding L... 119.79% 11.57 13.86 5.79 58.23% 6.94 49.93% 11.45 17.39%
[ NCLH ]

Royal Caribbean Cruises

Ltd. 121.15% 36.02 43.64 18.01 58.73% 21.61 50.48% 35.66 18.29%
[ RCL ]

Historical Graph

280%
Carnival

260% Norwegian Cruise

Royal Caribbean
240%
Autocall Trigger
(99%)
220%
Coupon Barrier
200% (60%)

180% Low Strike Level

(50%)

160% Product Bid Price

140%

120%

100%

80%

60%

40%
11. Jul 25. Jul 8. Aug 22. Aug 5. Sep 19. Sep

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Product reporting. Indicative data provided for maketing purposes. Please refer to the final termsheet.

Snapshot Features Prices

Asset Class Equity Low Strike Level 50% Price (Bid/Ask) -/-
ISIN Code XS2396246931 Coupon Barrier 60% Updated on 29.09.2022
Swiss Security Number 119867653 Autocall Trigger 99% Quotation Notional (%)
Currency USD Stepdown See events Price contributed by BNP Paribas
Denomination USD 1,000 Memory Coupon 7.7875% per Quarter Initial Fixing Date 29 June 2022
(31.15% p.a.)
Issue Price 100% Issue Date 06 July 2022
Memory Effect Yes
Minimum Trading Size USD 1,000 Final Fixing Date 30 June 2025
Observations Quarterly
Guarantor BNP Paribas (A+ | Aa3 | Maturity Date 07 July 2025
AA-) Redemption Type Physical

Past Events Next Events Next observation

Events Description Observation Payment Date

Memory Coupon & Autocall The product has been early redeemed at 100% + 7.7875% Coupon 29 Sep 2022 06 Oct 2022

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 29 Dec 2022 05 Jan 2023
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (99%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 29 Mar 2023 05 Apr 2023
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (98%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 29 Jun 2023 06 Jul 2023
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (97%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 29 Sep 2023 06 Oct 2023
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (96%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 29 Dec 2023 05 Jan 2024
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (95%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 01 Apr 2024 08 Apr 2024
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (94%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 01 Jul 2024 08 Jul 2024
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (93%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 30 Sep 2024 07 Oct 2024
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (92%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 30 Dec 2024 06 Jan 2025
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (91%)

Memory Coupon & Autocall A Coupon of 7.7875% (including Memory Effect) will be paid if the Worst closes at or 31 Mar 2025 07 Apr 2025
above the Coupon Barrier (60%)
On top of the Coupon, the product will be early redeemed at 100% if the Worst closes
at or above the Autocall Trigger (90%)

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 Product reporting. Indicative data provided for maketing purposes. Please refer to the final termsheet.

Past Events Next Events Last observation

Events Description Observation Payment Date

Coupon + Final Fixing A Coupon of 7.7875% will be paid if the Worst closes at or above the Coupon Barrier 30 Jun 2025 07 Jul 2025
(60%)
The closing price of the Worst will be used as reference for the calculation of the
Final Redemption

Stocks description and metrics on following page

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 Carnival Corp
Carnival Corporation owns and operates cruise ships offering cruises to all major vacation destinations including North
America, United Kingdom, Germany, Southern Europe, South America, and Asia Pacific. The Company, through a
subsidiary also owns and operates hotels and lodges. Dually-listed company with CCL LN.

Top 5 Revenue Segmentation Top 5 Geographic Segmentation Valuation Metrics Buy / Hold / Sell
NAA 8 Bn North America 8 Bn P/E Ratio 9.91 9/7/5
EA 4 Bn Europe 4 Bn Dividend Yield 8.53%
Tour & Other 185 Mn Australia & Asia 312 Mn Market Cap (USD) 11 Bn
Consensus Target
Cruise Support 171 Mn Others 72 Mn ROE + 25.33%
Beta vs. SPX 1.68

Norwegian Cruise Line Holding Ltd.

Norwegian Cruise Line Holdings Ltd. operates a fleet of passenger cruise ships. The Company offers an array of cruise
itineraries and theme cruises, as well as markets its services through various distribution channels including retail and
travel agents, international and incentive sales, and consumer direct. Norwegian Cruise Line Holdings serves customers
worldwide.

Top 5 Revenue Segmentation Top 5 Geographic Segmentation Valuation Metrics Buy / Hold / Sell
Cruise Lines 5 Bn Worldwide 5 Bn P/E Ratio 7.69 9/6/2
Dividend Yield
Market Cap (USD) 5 Bn
Consensus Target
ROE + 34.40%
Beta vs. SPX 1.59

Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises Ltd. operates as a global cruise company operating a fleet of vessels in the cruise vacation
industries. The Company operates through brands which primarily serve the contemporary, premium, and deluxe
segments of the cruise vacation industry which also includes the budget and luxury segments.

Top 5 Revenue Segmentation Top 5 Geographic Segmentation Valuation Metrics Buy / Hold / Sell
Cruise Lines 9 Bn North America 6 Bn P/E Ratio 10.41 11 / 7 / 0
Europe 2 Bn Dividend Yield
Other Regions 540 Mn Market Cap (USD) 16 Bn
Consensus Target
Reconciliation 458 Mn ROE + 29.63%
Asia/Pacific 372 Mn Beta vs. SPX 1.52

Disclaimers

All information contained in this promotional marketing document is indicative and non-binding. Jar Capital is not the issuer of the product and accepts no liability should any data contained in this document be
inaccurate. All the legally-binding documents containing all further relevant terms and conditions of this product, including but not limited to the final termsheet and relevant derivative program of the issuer valid as per
the initial fixing date, can be obtained upon request. Investors shall carefully read all the legal documentation of the product, this marketing document being not part of it.

This document is not for distribution outside of Switzerland unless otherwise stated in the final termsheet of the product. This document is for the exclusive use of investors categorized either as “eligible counterparties”
or “professional clients” within the meaning of the Markets in Financial Instruments Directive 2014/65/EU (“MiFID II”) and the Swiss Federal Act on Financial Services (“FinSA”). It is strictly forbidden to distribute this
document to the public in any way.

Neither Jar Capital nor any of its directors, officers or employees accept any responsibility or liability whatsoever for any expense, loss or damages arising out of or in any way connected with the use of all or any part of
this document. No opinions are expressed as to the merits or suitability of the products.

The past performance of any underlying mentioned in this document is not indicative of its future performance.

A structured product is not a collective investment scheme as per the Swiss Federal Act on Collective Investment Schemes (CISA) and is not subject to the authorization or supervision by the Swiss Financial Market
Supervisory Authority (FINMA). Therefore, investors in this product are not eligible for the specific investor protection under the Swiss Collective Investment Schemes Act. Investors are exposed to the credit risk of the
issuer.

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