This communication is a commercial communication for information purposes only and represents a personal view of the individual you received this communication from.

Neither CyberTrust SA nor the person you received this communication from intends to provide you financial or investment advice through this communication and does not represent that transactions, securities or instruments described are suitable for your purposes. CyberTrust SA's salespeople and other personnel may provide oral or written market commentary or trading strategies to clients that reflect comments that are contrary to the comments expressed in this communication.

This communication is not a research report, but may contain extracts from published report or materials, and is not intended to provide the sole basis for any evaluation by you of the transaction, securities or instruments described herein. This communication is subject to change without notice. No representation or warranty is given as to the accuracy or completeness of any information, comments, materials, or analysis provided in this communication and it should not be relied as such. CyberTrust SA accepts no liability whatsoever for any direct, indirect or consequential loss or damage of any kind arising out of the use of all or any part of this communication.

Before considering execution of any transaction, you are advised to make your own assessment of all the information available to you, and to seek independent professional advice as to the suitability of any such transaction to your financial, legal, tax, accounting, regulatory or any other relevant considerations that is deemed by you relevant for such transaction.

No representation or warranty is given that any yield, performance or return indicated will be achieved in the future. The price of the instrument may vary according to various factors including, but not limited to, security prices, indexes, interest rate, exchange rate, or any other instrument or reference.

This communication should not be construed as an offer, recommendation or solicitation to conclude a transaction in any jurisdiction where such activity would be contrary to the securities laws or other local laws and regulations.

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