The Exchange-Based Plaintiffs (also referred to as “Plaintiffs”) (see Question 5 of the Notice), who transacted in Eurodollar futures contracts and options on Eurodollar futures (see Question 9 of the Notice), sued various banks (and certain of their affiliates) (“Defendants,” see Question 3 of the Notice), claiming that the banks individually and collectively manipulated U.S. Dollar LIBOR to benefit their trading positions and engaged in the suppression of LIBOR. Plaintiffs alleged that the banks’ alleged conduct manipulated Eurodollar Futures prices to artificial levels between January 1, 2003 and May 31, 2011, inclusive. As a result, Exchange-Based Plaintiffs claim that they traded Eurodollar futures contracts at artificial price levels, paying more and/or receiving less than they would have absent Defendants’ manipulation of the U.S. Dollar LIBOR rate. The alleged manipulation of Defendants’ LIBOR submissions caused the Settlement Class to pay higher supracompetitive prices or receive lower infracompetitive prices for Eurodollar futures contracts and options on Eurodollar futures during the Settlement Class Period. Exchange-Based Plaintiffs brought claims under the Sherman Antitrust Act, 15 U.S.C. § 1 et seq., and Commodity Exchange Act, 7 U.S.C. § 1 et seq. (“CEA”), against the Defendants seeking money damages. The Court has written at least seven published opinions addressing various legal matters raised by the parties in this lawsuit. Since the filing of the first civil LIBOR action on April 15, 2011, the Court has limited Plaintiffs’ claims in various ways, including by dismissing portions of Plaintiffs’ antitrust claims under the efficient enforcer standard, dismissing most foreign Defendants for lack of personal jurisdiction, and dismissing portions of Plaintiffs’ CEA claims as untimely, based on the Court’s findings that Plaintiffs were on inquiry notice of the claims and that the two-year statute of limitations had expired on Plaintiffs’ CEA claims in so-called “Periods 1 and 2” (August 2007 to April 14, 2009). The Court denied Plaintiffs’ motion for class certification. In its ruling, In re LIBOR-based Fin. Instruments Antitrust Litig. (“LIBOR VII”), 299 F. Supp. 3d 430 (S.D.N.Y. 2018), the Court denied class certification, rejected various econometric models and opinions of Plaintiffs’ experts as to liability and damages, and ruled that Plaintiffs had not fully satisfied the requirements of Federal Rule of Civil Procedure 23. Plaintiffs’ petition for leave to appeal the denial of class certification under Federal Rule 23(f) was denied. Given the procedural history of this lawsuit, the Settlement described herein may offer the best, and perhaps last, chance for Settlement Class Members to obtain additional monetary recoveries. The Court previously granted Final Approval for seven settlements in this Action, which created an aggregate Settlement Fund of $187,000,000. On October 24, 2023, the Court authorized distribution of the aggregate Settlement Fund (ECF No. 3840) and the distribution process is ongoing. The additional and final Settlement of $3.45 million has been reached between Exchange-Based Plaintiffs and the Remaining Defendants Credit Suisse, Lloyds, NatWest, Portigon, RBC, Rabobank, Norinchukin, MUFG, and UBS, and that is why you are receiving this Notice. The Remaining Defendants deny all claims asserted against them and maintain they did nothing wrong.

The London Interbank Offered Rate (“LIBOR”) is the reference point for determining interest rates for financial instruments worldwide. LIBOR rates are determined for several currencies, including the U.S. Dollar, for multiple borrowing periods ranging from overnight to one year. They are published each business day. U.S. Dollar LIBOR is the trimmed average of the rates at which an individual bank on the U.S. Dollar LIBOR panel could borrow funds, were it to do so by asking for and then accepting offers in the London inter-bank market in reasonable market size, just prior to 11:00 am London time. The Settlement only involves U.S. Dollar LIBOR.

If you previously submitted a valid claim in the Prior Settlements, you do not need to submit another Proof of Claim to participate in this Settlement unless you wish to amend your claim. You are included in the Settlement as a Settlement Class Member, if you meet the definition below: All Persons, corporations and other legal entities that transacted in Eurodollar futures and/or options on Eurodollar futures on exchanges, including without limitation, the Chicago Mercantile Exchange, between January 1, 2003 and May 31, 2011, inclusive. Excluded from the Settlement Class are: (i) Defendants, their employees, affiliates, parents, subsidiaries, and alleged coconspirators; (ii) the Releasees (as defined in the Settlement Agreement); and (iii) any Class Member who files a timely and valid request for exclusion. Notwithstanding these exclusions, and solely for the purposes of the Settlement and the Settlement Class, Investment Vehicles shall not be excluded from the Settlement Class solely on the basis of being deemed to be Defendants or affiliates or subsidiaries of Defendants. However, to the extent that any Defendant or any entity that might be deemed to be an affiliate or subsidiary thereof (i) managed or advised, and (ii) directly or indirectly held a beneficial interest in, said Investment Vehicle during the Class Period, that beneficial interest in the Investment Vehicle is excluded from the Settlement Class.

The Remaining Defendants have agreed to pay $3.45 million. The Settlement, if it receives Final Approval from the Court, will create an additional $3.45 million Settlement Fund that will be used to pay eligible Settlement Class Members who submit valid claims. If you previously submitted a valid claim in the Prior Settlements, you do not need to submit another Proof of Claim to participate in this Settlement unless you wish to amend your claim. The cost to administer the Settlement, attorneys’ fees, and reimbursement of litigation costs and expenses will come out of the Settlement Fund, if the Court approves applications for such payments from the Settlement Fund (see Question 21 of the Notice)

To ask for a payment, you will need to complete and submit a Proof of Claim and Release Form postmarked OR submitted electronically no later than October 21, 2024. If you previously submitted a valid claim in the Prior Settlements, you do not need to submit another Proof of Claim to participate in this Settlement unless you wish to amend your claim. Instructions for electronic claims submission are available at www.USDLiborEurodollarSettlements.com. If you submit a Proof of Claim and Release Form with your contact information, you will receive future notifications containing additional important information. You may also download and mail your completed Proof of Claim and Release form to: USD Libor Eurodollar Futures Settlements c/o A.B. Data, Ltd. P.O. Box 170999 Milwaukee, WI 53217-8091 Any claims that are not released do not qualify for payment in the Settlement (see Question 14 of the Notice).

To exclude yourself from the Settlement, you must mail a letter or other written document (“Request for Exclusion”) to the Settlement Claims Administrator, A.B. Data, Ltd. (the “Claims Administrator”). To exclude yourself from the Settlement, you must file a timely written Request for Exclusion. A Request for Exclusion must:

• Be in writing
• Be signed by you or your authorized representative
• State your name, address, and phone number
• Include proof of membership in the Settlement Class, specifically, a description of and documentation evidencing your transactions that fall within the Settlement Class definition (including, for each transaction, the identity of the broker (if any), the date of the transaction, the type of the transaction, the counterparty (if any), the exchange on which the transaction occurred, any transaction identification numbers, the rate, and the notional amount of the transaction
• Include a signed statement that “I/we hereby request that I/we be excluded from the proposed Exchange-Based Settlement Class in the In re LIBOR-based Financial Instruments Antitrust Litigation, MDL No. 2262”
• Be mailed to the Claims Administrator at the address provided below and postmarked no later than August 15, 2024.

You must also provide any other information reasonably requested by the Claims Administrator. You must mail your Request for Exclusion, postmarked no later than August 15, 2024, to USD Libor Eurodollar Futures Settlements, EXCLUSIONS, c/o A.B. Data, Ltd., P.O. Box 170999, Milwaukee, WI 53217-8091.

Any member of the Settlement Class may appear at the Fairness Hearing in person or by counsel (at his, her or its own expense) and may be heard, to the extent allowed by the Court, either in support of or in opposition to the fairness, reasonableness, and adequacy of any or all of the proposed Settlement or any related matter (including the request for attorneys’ fees and expenses, the Plan of Distribution or any other matter). To object to any or all of the proposed Settlement, you must submit a letter or other written document that includes the following:

• Your name, address, and telephone number
• A statement saying that you object to the Settlement with the Remaining Defendants Credit Suisse, Lloyds, NatWest, Portigon, RBC, Rabobank, Norinchukin, MUFG, and UBS in the Exchange-Based Plaintiffs’ Action in In re LIBOR-based Financial Instruments Antitrust Litigation, MDL No. 2262
• Whether you plan to appear at the Fairness Hearing (see Question 26 of the Notice)
• Proof of membership in the Settlement Class, specifically, a description of and documentation evidencing your transactions that fall within the Settlement Class definition (including, for each transaction, the identity of the broker (if any), the date of the transaction, the type of the transaction, the counterparty (if any), the exchange on which the transaction occurred, any transaction identification numbers, the rate, and the notional amount of the transactions)
• specific reasons you object to the Settlement, along with any supporting materials or documents that you want the Court to consider
• Your signature. Your objection(s) must be mailed to the addresses listed below with a postmark no later than August 15, 2024. Persons who have timely submitted a valid request for exclusion are not members of the Settlement Class and are not entitled to object.

To object to the Settlement:

If your objection is not postmarked by the deadline and do not include the information listed above, the objections will not be valid and may not be considered by the Court.