BAS Presentations - March 2023

3/1/2023

Which led to enormous depreciation in 2022…

Sensitivity to Market Risk and Management components were downgraded.

21

Management was Reaching for Yield since Risk Free Rates were Extremely Low

6.0%

5.0%

4.0%

3.0%

4/30/2021

Yield

1.65%

2.0%

4/30/2020

0.64%

1.0%

1m 2m 3m 6m 1y

2y

3y

5y

7y

10y

20y

30y

Maturity

22

11