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The materials in this document do not constitute or form part of any offer, or invitation, to subscribe for or to sell, or solicitation of any offer to subscribe for or to purchase, warrants or other securities of any issuer of such warrants, nor are they calculated to invite, nor do they permit the making of, offers by the public to subscribe for or purchase for cash or other consideration the warrants or other securities of any such issuer and Vontobel, its related and affiliated corporations and their respective associated and connected persons, affiliates, directors, officers and employees (collectively the "Vontobel Group" do not accept any responsibility in respect thereof. Nothing in this document constitutes investment advice on such warrants and other securities. Neither this document nor its contents shall be construed as an advertisement, inducement or representation of any kind or form whatsoever.
The materials in this document have not been prepared with regard to the specific investment objectives, financial situation and particular needs of any particular investor. This document cannot disclose all the risks and other significant aspects of warrants and/or any other instrument mentioned therein. You should make your own independent appraisal of the risks and should consult to the extent necessary your own legal, financial, tax, accounting and other professional advisors in this respect prior to any subscription or acquisition. The materials in this document have been prepared in good faith with all reasonable care. However, certain information provided is obtained or is based upon information obtained from third parties which may not have been checked or verified. Information and statements contained in this document are not to be relied upon as authoritative or taken in substitution for exercise of judgment by any recipient, and are subject to change without notice. Nothing contained herein shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. The Vontobel Group makes no representation or warranty, express or implied as to the accuracy, adequacy, completeness, timeliness or correctness for any particular purpose of any information or statements contained in this document, and they should not be relied upon as such. Any indicative price quotations, disclosure materials or other analysis (including, without limitation any opinions, ideas or strategies) prepared by Vontobel have been prepared on assumptions, parameters and market conditions that reflect good faith determinations and do not constitute investment advice by Vontobel. The assumptions and parameters used are not the only ones which could have reasonably been selected, and accordingly, no guarantee is given in respect of the accuracy, reasonableness or completeness of such quotations, disclosure or analysis. If any of the assumptions, parameters or market conditions change, the quotations, disclosure materials or analysis will change. No representation or warranty is made that any indicative return or performance will be achieved in the future.
The terms and conditions of any warrants described herein must be read in conjunction with the Base Listing Document for those warrants and the relevant Supplemental Listing Document. Investors are warned that the price of any warrant may fall in value as rapidly as it may rise and holders may sustain a total loss of their investment. The price of warrants also depends on the supply and demand for the warrants in the market and the price at which a warrant is trading at any time may differ from the underlying valuation of the warrant because of market inefficiencies. Investors should note that past performance is not an indication of future performance. You should therefore ensure that you understand the nature of the warrants and carefully study the risk factors set out in the Base Listing Document and the relevant Supplemental Listing Document and, where necessary, seek professional advice before you invest in the warrants.

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