You may receive a statement (the “Statement”) from Renaissance Securities (Cyprus) Limited (“Renaissance”) or another member of Renaissance Capital from time to time. Renaissance Capital is a group of companies which includes Renaissance Financial Holdings Limited and its subsidiaries. For more information on Renaissance Capital please see Bloomberg page RENA, our web-site www.rencap.com or please contact one of our offices.

The Statement and its contents are subject to the terms of the investment services agreement, including, without limitation, its schedules and any supplementary and ancillary documents, entered into between you and Renaissance, as may be amended from time to time (collectively, the "Customer Document Pack").

Please note that, unless Renaissance receives from you objections in writing within a period indicated in the Customer Document Pack, the Statement shall be deemed to have been agreed to and accepted by, and the contents of the Statement shall be conclusive and binding on, you.

The Statement is private and confidential and is intended solely for use by the named addressee(s). If you receive any transmission in error, please immediately notify the sender and destroy such message in its entirety, whether in electronic or hard copy format. Any unauthorised use (and reliance thereon), copying, disclosure, retention, or distribution of any transmission or the materials therein is forbidden.

The Statement has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

The Statement is for information purposes only. All information contained therein is subject to change without notice, and Renaissance is not under any obligation to update or keep current the information contained in the Statement. Renaissance accepts no liability for the accuracy of the information contained therein or any direct or indirect loss that may arise for whatever reason out of any incorrect data contained in the Statement, unless a court in final judgment determines that such liability arises from gross negligence, wilful default or fraud on behalf of Renaissance. In no event shall Renaissance, its employees, directors, officers or agents have any liability whatsoever (whether in contract, tort (including negligence) or otherwise) for any indirect or consequential loss or damage arising from any use of the Statement or any information contained therein.

The Statement has been compiled based on information obtained from sources believed by Renaissance to be reliable. Such information has not been independently verified, is provided on an 'as is' basis and no representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness, reliability, or fitness for a particular purpose of such information.

Any assets indicated in the Statement may not be free from liens, encumbrances, charges, mortgages, pledges, guarantees or other similar interests (the "Security Arrangements") created for your benefit or for the benefit of any other third party that may or may not be related to you and which are not or may not be shown on the Statement. Renaissance or other third parties may be party to such Security Arrangements. The Security Arrangements may be for the benefit of Renaissance, its subsidiaries, associates and affiliates or any other third party which may, or may not, be related to Renaissance Capital. In recording or registering any Security Arrangement over your portfolio, Renaissance is not obliged to verify the validity or enforceability of any such Security Arrangements, as long as the request to record or register such Security Arrangement has been provided to Renaissance by a person which is authorised by you to give instructions in accordance with the provisions of the Customer Document Pack. Accordingly, the Statement should not be construed as an indication that any of your assets are free from the Security Arrangements regardless of whether Renaissance is aware of such Security Arrangements existing in respect of any of your assets or not.

Unless otherwise agreed between you and Renaissance, no actions will be taken on your behalf by any member of Renaissance Capital for the purpose of claiming any dividend, exercising any voting rights or generally undertaking any action relating to any rights which you may have as part of your direct or indirect ownership of any financial instruments which Renaissance holds for you.

The Statement is intended only for investors who are eligible counterparties or professional clients. It is not intended for distribution to retail clients. The Statement is provided on the basis that you have sufficient knowledge, market sophistication and professional experience to evaluate merits and risks of any transaction and are capable of undertaking your own objective analysis of financial instruments and suitability of such financial instruments to meet your requirements. If you deem it necessary, you must seek independent professional advice to ascertain financial instruments, legal, tax, accounting, regulatory or other consequences before investing or transacting.

The Statement is not and should not be construed as an offer, an advertisement, a solicitation of an offer, recommendation for the purchase or sale of any financial instruments, or an invitation or inducement to engage in investment activity.

The financial instruments described in the Statement may not be eligible for sale in all jurisdictions or to certain categories of investors. You shall perform your own due diligence in respect of any financial instruments and risk factors affecting such financial instruments, including, without limitation, political risks, economic risks, credit risks, and market risks. Past performance is not necessarily indicative of future results.

The Statement should not be construed as investment, tax, legal, accounting, regulatory or other advice or as creating a fiduciary relationship.