Fee Schedule

Schedule of Commission and Fees 1

LocalInternational
FromToBondsSharesBondsShares
EuroEuro%%%%
25,0000.250%1.000%0.600%0.600%
25,00150,0000.220%0.750%0.575%0.575%
50,001100,0000.200%0.600%0.550%0.550%
100,001Over0.175%0.400%0.500%0.500%
Minimum FeeEuro 10Euro 10Euro 30Euro 30

1 Fixed Transaction charges and bank charges per trade confirmation levied by the Malta Stock Exchange also apply.

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Timberland Invest Ltd.,
CF Business Centre,
Gort Street,
St Julians STJ 9023
Malta