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January 2017 Dear Customer On 1st January 2017 we introduced an exchange rate escalator. This takes the form of a Currency Adjustment Factor (CAF), the details of which are seen below. To demonstrate our continued support to our customers we will only apply the surcharge when £1.00 has a value below €1.25. You will note that we have split this in to two markets, each showing the percentage of Euro costs incurred and the applicable surcharge. Exchange Rate Republic of Ireland Europe BAND £ / € 35% € Costs 60% € Costs A 1.25 - 1.20 1.25% 2.00% B 1.19 - 1.15 2.50% 4.00% C 1.14 - 1.10 3.75% 6.00% D 1.09 - 1.05 5.00% 8.00% E 1.04 - 1.00 6.25% 10.00% Our exchange rate information is obtained from www.oanda.com. I trust you will appreciate our reasons for taking this action and thank you for your continued support. Yours faithfully For and on behalf of Redhead Freight Ltd Robert Cockroft Sales Director

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Page 1: Exchange Rate Republic of Ireland Europe Word - Currency Adjustment Factor March 17 PDC.docx Created Date 3/1/2018 4:36:05 PM

January 2017

Dear Customer On 1st January 2017 we introduced an exchange rate escalator. This takes the form of a Currency Adjustment Factor (CAF), the details of which are seen below. To demonstrate our continued support to our customers we will only apply the surcharge when £1.00 has a value below €1.25. You will note that we have split this in to two markets, each showing the percentage of Euro costs incurred and the applicable surcharge.

Exchange Rate Republic of Ireland Europe

BAND £ / € 35% € Costs 60% € Costs

A 1.25 - 1.20 1.25% 2.00%

B 1.19 - 1.15 2.50% 4.00%

C 1.14 - 1.10 3.75% 6.00%

D 1.09 - 1.05 5.00% 8.00%

E 1.04 - 1.00 6.25% 10.00%

Our exchange rate information is obtained from www.oanda.com. I trust you will appreciate our reasons for taking this action and thank you for your continued support.

Yours faithfully For and on behalf of Redhead Freight Ltd Robert Cockroft Sales Director

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