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CARBON (€/T) THUFRI VAR D-1 VAR W-1AVG.MAXMIN 28/829/8FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202571.72 72.991.270.4672.2283.9360.94CO2 EUA DEC 202673.63 74.901.270.4374.1986.3562.54CO2 EUA DEC 202775.83 77.121.290.4376.4989.0764.54CO2 EUA DEC 202878.33 79.641.310.3979.0691.9466.86UK ETS DEC 25 EUR 59.77 61.311.540.9954.8365.4337.35UK ETS DEC 26 EUR 62.57 64.161.591.0557.3768.3639.48UK ETS DEC 27 EUR 65.45 67.031.581.1460.0870.8642.14European carbon prices rebounded on Friday, supported by a strong Germanauction, tighter market expectations into 2026, and renewed buying interest astraders returned from summer holidays. End-of-month repositioning and last-minute compliance demand ahead of the 30 September deadline also addedsupport, lifting the EUAs expiring in Dec-2025 by 1.8% to 73 EUR/tonne.CO2 EUAEXCHANGE RATES THUFRIVAR D-1 VAR W-1AVG.MAXMIN 28/829/8FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1676 1.1658-0.00180.0051.11231.18101.0198RATE EUR/GBP0.8637 0.86680.00310.00150.84850.87170.8253RATE GBP/EUR1.1578 1.1537-0.0041-0.0021.17881.21171.1472The EUR/USD pair slipped by 0.2% to 1.1658, after German retail salesdisappointed, rising just 1.9% y/y in July versus 2.6% expected and dropping by1.5% m/m.In contrast, the EUR/GBP rate edged 0.4% higher at 0.8668, supported byslightly stronger German CPI at 2.2% y/y in August, though upside was cappedas the Bank of England is expected to stay hawkish amid persistent UKinflation.