Fernando Leija, CFA

Market Analyst – Crude Oil, Natural Gas & LNG Fundamentals & Market Modeling Develop bottom‑up fundamental views across crude oil, natural gas, and LNG markets through detailed supply/demand modeling, price analysis, and global trade flow evaluation. Deliver trading‑relevant insights that support commercial strategy and long‑term planning. Crude Oil Analysis -Build and maintain models for crude supply/demand balances, global price spreads, refining margins, arbitrage and netback economics, and refinery outage impacts. -Serve as Refinery Simulation Model SME, conducting Gross Product Worth (GPW) analysis to evaluate refinery optimization and grade economics. -Track global waterborne crude flows, weekly DOE statistics, and production trends using natural gas scrapes. -Produce long‑term crude price forecasts and strategic market outlooks for trading and business development teams. -Assess tariff and regulatory impacts on crude flows and economics. Natural Gas & LNG Analysis -Model U.S. natural gas supply, demand, pricing, basis dynamics, and infrastructure impacts using RBAC’s GPCM market simulation platform. -Develop long‑term price forecasts for natural gas and NGLs. -Recommend monthly sales strategies based on regional fundamentals and futures pricing. -Support LNG and midstream strategy through analysis of new terminal developments and global LNG market trends. Technical Tools & Data Sources Systems: Bloomberg, Refinitiv, RBAC GPCM, RefineryCalc Data Sources: Argus, Platts, IHS, Wood Mackenzie, IIR, Kpler, FGE

Utilize fundamental and quantitative analysis methodologies to identify trade opportunities in the petrochemicals and LPG markets for a plastics trading company. Models developed utilizing VBA, SQL, Excel, Access, Bloomberg, and/or Python. Develop Data Science Platform - (Multicommodity Correlation Analysis and Commodity Pricing Seasonal Trend Decomposition). Wrote Backtesting routines to forecast P&L/risk of specific polymers/chemicals trades. Construct a point of view (POV) by developing supply / demand and margin models. Utilize data sources as ICIS, IHS, Argus, Woodmac, EnergyAspects, American Chemical Council (ACC), USITC, Platts, Genscape, PetrochemWire, and Bloomberg. Products include polyethylene (LDPE, LLDPE, HDPE), polypropylene, PVC, polystyrene, PET, ethylene, propylene, butadiene, ethanol, styrene, ACN, and acetic acid. Feedstocks include crude oil, naphtha, natural gas, and corn. *Model global supply based on installed capacities, new projects development, operating run rates. Model demand on industry and country growth rates and statistical forecasts. *Depict global polymer supply interruptions from planned maintenance, hurricanes, economics, or run rate cuts. *Identify arb opportunities through global pricing models. *Track margins in aromatics, olefins, polymers, and other chemicals *Track exports (ie polymers, ethylene) *LPG global balance development - US Global LPG supply/demand by supply source and end use, waterborne demand, and trade economics. *Forecast ethanol production from natural gas scrapes of ethanol plants. Utilize Machine Learning ensemble based methodology for ethanol production. *Develop Data Science platform.

*Research and consult on global NGL/LPG (ethane, propane, butane, natural gasoline) markets based on market fundamentals and trends. *Utilize fundamental analysis techniques to provide research and consulting services for the purpose of due diligence, strategic advice, valuation, risk management, project development, and price forecasting. o RBN Energy LLC

*Research and consult on global NGL/LPG (ethane, propane, butane, natural gasoline) markets based on market fundamentals and trends. *Utilize fundamental analysis techniques to provide research and consulting services for the purpose of due diligence, strategic advice, valuation, risk management, project development, and price forecasting. * Model supply/demand fundamentals for NGL/LPG markets in US and world markets. * Identify LPG trading arbitrage opportunities while developing price projections. * Forecast infrastructure developments of fractionation facilities, pipelines, LPG export terminals, and gas processing plants. *Speaker at international industry conferences. *Contributor for industry publication (Oil & Gas Journal).

• Researched and published fundamental market analysis of Latin American olefins and polymers.

Expertise in fundamental and quantitative analysis of crude oil, natural gas, NGL's, LPG's, petrochemicals, refined products, and biodiesel markets. *EnVantage (NGL Market Analysis): Model the natural gas liquids (NGLs) Supply / Demand market to identify investment opportunities by forecasting infrastructure developments of fractionation facilities, pipelines, LPG export terminals, and gas processing plants. *Enesys (Crude Oil Market Analysis): crude oil trading statistical analysis in order to identify trading opportunities. *Wealth manager (Energy Market Analysis): Consult on energy fundamentals that create energy company trading opportunities.

• Provided on-desk analytical support and trade strategies to crude oil, NGL’s, and refined products traders. Identified fundamental and quantitative impacts on prices due to changes on logistics, weather, refinery production, import/exports, supply/demand, and correlated energy prices. • Developed statistically based risk adjusted trading model that identified trading opportunities for calendar and cross-commodity spread strategies on a real-time basis. • Forecasted commodity and chemical prices adding to official company long range price set to project profitability of business development projects. • Communicate weekly to senior managers trading strategies of crude oil, gasoline, NGL, and distillates commodity groups. • Implemented world-wide market analysis knowledge sharing structure between offices in US, Asia, and Europe allowing the sharing of local expertise and modeling tools. • Analyzed global crude oil refinery production interruptions (maintenance turnarounds) that identified regional trading strategies for 2.4 MBD of crude oil processing capacity. • Identified trading opportunities for crude oil and refined products due to a changing supply / demand environment as a result of hurricanes impacting the Gulf of Mexico. Tracked and calculated impacts on energy assets (platforms, rigs, pipelines, crude oil / natural gas shut-in production, and 32 refineries, ~45% US crude oil production) • Recommended company maintenance turnaround schedule for 10 US refineries or 2.0 MBD of crude oil processing capacity to optimize profitability in forecasted cracking margin environment. • Implemented LPG arbitrage model that identified arbitrage opportunities to/from Asia, North West Europe, Africa, Middle East, Mediterranean, and Americas. • Developed ethylene cracker feedstock margin model identifying NGL, gasoline, and naphtha trading opportunities. • Utilized Argus, Platts, IIR, LIM, OPIS, PIRA, ProphetX, Reuters, Bloomberg, and CQG.

• Updated and maintained model that forecasted futures prices based on weather changes utilizing regression analysis. • Developed crude oil and natural gas futures prices forecasting model that identified trading opportunities utilizing statistical methodologies. • Projected weekly natural gas inventory changes utilizing current weather expectations. • Maintained LNG flows, natural gas storage, and historical spread models that captured natural gas market fundamentals for executing trade strategies. • Tracked 100% fund positions to generate P/L, rebalance positions, and generate risk management reports. • Utilized systems/reports such as Bentek, LIM, Bloomberg, EarthSat, MDA Federal, and Sungard Systems.

• Brokered nationally biodiesel via trucks for small to medium-sized customers. • Created six start-up biodiesel production companies with financials to acquire bank financing for $2.0MM stand-alone biodiesel production plants and working capital. • Developed marketing strategies for producers who wish to contract for high volume off-take agreements.

• Equity Analyst and Portfolio Manager for $2Bn AUM. • Developed company primary valuation model integrating fundamental and technical analytics with functionality that screened stock universe and generated trading opportunities. • Recommended trades for equity securities portfolio by utilizing fundamental and quantitative methodologies that averaged 20% increase, the highest performing selection record in the firm. • Managed portfolio assets, as member of investment committee, by voting on sector allocation, investment strategy, and firm investment policy. • Designed and implemented real time trade order system that reduced order execution time, integrated portfolio accounting system, and improved accuracy of strategy execution.