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CARBON (€/T) WED THU VAR D-1 VAR W-1AVG.MAXMIN 10/911/9FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202577.10 75.54-1.560.172.3983.9360.94CO2 EUA DEC 202679.08 77.53-1.550.1374.3686.3562.54CO2 EUA DEC 202781.34 79.75-1.590.176.6689.0764.54CO2 EUA DEC 202883.92 82.25-1.670.0279.2391.9466.86UK ETS DEC 25 EUR 66.30 64.75-1.550.4255.3166.3037.35UK ETS DEC 26 EUR 69.30 67.75-1.550.557.8769.3039.48UK ETS DEC 27 EUR 72.44 71.03-1.410.6460.6072.4442.14European carbon prices retreated on Thursday after reports emerged thatGermany is pushing to slow the reduction of free allowances. Hence, the EUAsexpiring in Dec-2025 lost 2% to 75.54 EUR/tonne.CO2 EUAEXCHANGE RATES WEDTHUVAR D-1 VAR W-1AVG.MAXMIN 10/911/9FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1707 1.1685-0.00220.00381.11481.18101.0198RATE EUR/GBP0.8650 0.8647-0.0003-0.00160.84930.87170.8253RATE GBP/EUR1.1561 1.15650.00040.00221.17771.21171.1472The euro remained moderately weak on Thursday, after the ECB left its keyrates unchanged, keeping the Main Refinancing Rate at 2.15% and the DepositFacility Rate at 2.00%, in line with expectations. The bank noted that inflation isnear its 2% target, and the overall outlook remains stable. Consequently, theEUR/USD pair slipped by 0.2% to 1.1685, while the EUR/GBP rate settledmarginally lower at 0.8647.