Legal regulations Switzerland

1 In General

1.1 Agreement

By using the website www.credinvest.ch and any of its pages (hereafter the "Website"), you confirm that you have reviewed, understand and agree to the following important legal information and terms of use (the "Terms").If you do not agree to the Terms, please exit the Website immediately. The Terms are subject to change at any time without notice and access to, and use of the Website may be restricted or terminated at any time. Access to and use of the Website as well as the Terms are governed by Swiss law. The place of jurisdiction is Lugano.

1.2 No offer, no advice

The information, products, data, services, tools and documents contained or described on this Website (the "Content") are for information purposes only and constitutes neither an advertisement or recommendation nor an offer or solicitation to buy or sell investment instruments, to effect any transaction or to enter into any legal relations. The financial products mentioned on this Website are not suitable for all investors. The information contained on this Website represents no financial, legal, tax and/or any other recommendation whatsoever. Investment decisions or other decisions should not be made exclusively on the basis of this document. Prior to making any investment decisions, we recommend that you seek a thorough review as well as advice from a qualified specialist.

1.3 No warranty

Credinvest Bank provides no warranty and makes no representations of any kind whatsoever regarding: (1) the currency, accuracy or completeness of the content; (2) the results to be obtained by any user of the Website; or (3) any third party content accessible on or through the Website. Any data, including but not limited to financial market data, quotes, notices, research or other financial information accessible through this Website, have been obtained from carefully selected sources believed to be reliable. All such information is provided "as is" to the user without express or implied warranties of any kind, including warranties of quality, originality, non-infringement of intellectual property or fitness for any particular purpose. The fact that a user accesses the Website does not make him a client of Credinvest Bank. Any expressions of opinion, estimates and projections on the Website are those of the authors at the date of writing. They do not necessarily reflect the view of Credinvest Bank and are subject to change at any time without prior warning. Credinvest Bank and its contractual partners may discontinue, or make changes in, the information, data and documents, and the products or services described herein, at any time without prior notice. Any information marked with a date is published as of this date only and no obligation or responsibility is undertaken to update or amend any such information.

1.4 No liability

To the maximum extent permitted by current laws and/or regulations, Credinvest Bank, including its directors, agents, employees, sub-contractors and its sales partners disclaim any and all liability for losses or damages of any kind whatsoever arising directly or indirectlyas a result of (1) the content, accuracy, completeness or otherwise of the content or any links or third party content; (2) any errors in or omissions from the website; (3) use of or access to the website; (4) any inability to access or use the website for any reason. To the full extent permitted by current laws and/or regulations, Credinvest Bank shall not be liable for any (1) loss of profits or revenue or savings or other economic loss, (2) loss of business or goodwill, (3) loss of or damage to data, (4) incidental or special loss, (5) wasted or lost management time, or (6) indirect or consequential loss arising from use of or access to the website, even if advised of the possibility of any such loss or damage or if such loss or damage was foreseeable.

1.5 Proprietary information

Unless accompanied by an explicit statement to the contrary, all content on this Website is protected by copyright, database rights, or other intellectual property rights, and is the property of Credinvest Bank. Nothing on the Website is designed to grant any license or right to use any image, text, trademark or logo. No act of downloading or otherwise copying from the Website will transfer any legal entitlement to any software or material on the Website to you. Credinvest Bank reserves all intellectual property rights (such as copyright, design and trademark rights) to all material on the Website, and will enforce such rights to the full extent of applicable law. Any reproduction, re-publication or distribution of Website content requires the express written authorization of Credinvest Bank as well as the explicit source data.

Credinvest Bank declines any responsibility in case users provide incorrect information regarding their legal place of residence or registered office.

1.6 Performance

The past is not an indication of the future performance of an investment. The value of investments may be subject to fluctuations and investors may not get back the amount invested. Changes in rates of foreign exchange may also cause the value of investments to go up or down.

2. Structured Products

Access to data under the section " Our Products " of the Website is designated exclusively for visitors with domicile in Switzerland or visitors who reached the Website on their own initiative. Data under the section " Our Products" serve as information only and constitute neither a solicitation nor invitation of an offer. Any buy or sell offer is provided only with the complete documentation, which particularly points out the risks associated with these financial products and can be obtained from Credinvest Bank (Institutional Clients Team, institutional@credinvest.ch). Investors are urged to read this documentation carefully since they provide the conditions under which an investor can invest in the product. Please note that conversations conducted on our trading telephone can be recorded. Structured products do not represent participation in a collective investment and are thus not subject to supervisory authority by the Swiss Financial Market Supervisory Authority (FINMA). Investors are therefore not protected under the Swiss Federal Act on Collective Investment Schemes and are thus exposed to issuer risk.

Credinvest Bank is a Swiss supervised Bank and is licensed to offer actively its products only in Switzerland. By accessing the Website from outside of Switzerland, you confirm that:

• you reached the Website on you own exclusive initiative and
• Credinvest Bank did not actively approach, invite or request you in respect of its services and/or any products.