Material Disclosures and Disclaimers

ATLAS ASSET MANAGEMENT PTE. LTD. (“Atlas”) is making material (being either trade ideas, sales information, market commentary, market data and observations or the like) (“Material”) available to you because we believe that you have sufficient knowledge, experience and/or professional advice to understand and make your own independent evaluation of the risks and rewards of the investments and/or other matters discussed therein and your own independent decision whether to implement the same. Each of the illustration in the Material is up to the date indicated therein, unless otherwise specified.

The Material has been prepared by Atlas and is provided to you for the purpose of personal use and information only and should not be construed as an offer or a solicitation of an offer to purchase, subscribe, sell or redeem any investments. It is further not intended to provide the sole basis for any evaluation of the investments or any other matter discussed therein. The Material is not a prospectus as defined in the Securities and Futures Act, Chapter 289 of Singapore (“SFA”). Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply.

The information contained therein is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The investments discussed in the Material may not be suitable for all investors. Advice should be sought from a financial adviser regarding the suitability of the investment products mentioned therein, taking into account your specific objectives, financial situation and particular needs before you make any commitment to purchase any such investment products.

Atlas and its affiliates do not provide tax advice and nothing therein should be construed as such. Accordingly, you should seek advice based on your particular circumstance from an independent tax advisor. Neither Atlas nor any affiliate, nor any of its respective officers, directors, partners, or employees accept any liability whatsoever for any direct or consequential loss arising from any use of or reliance upon the Material or its contents, or for any omission. Past performance does not guarantee or predict future performance. The information therein is not intended to predict actual result, which may differ substantially from those reflected. None of the information takes into account the impact of taxation. It assumes that income is re-invested. Investment products may be subject to investment risks, involving, but not limited to, market and currency exchange risks, fluctuations in value and possible loss of principal invested. Unless expressly stated, products are not guaranteed by Atlas or its affiliates or any government entity. Atlas and its affiliates, their officers, directors, partners and/or employees may from time to time have an interest in the investment products mentioned therein and we may hold long or short positions for our own account or those of our clients.

The information contained therein has been obtained from sources that Atlas believes are reliable but we do not represent or warrant that it is accurate or complete. The views therein are generally those of Atlas and are subject to change without notice, and Atlas has no obligation to update its views or the information therein. Some or all the security suggestions contained therein do not represent the views of Atlas as they are not covered by a member of the Atlas analyst team. Such recommendations are based on the actual view of one or several major brokerage houses. Atlas or its affiliates may act upon or use material in the Material prior to publication.

The Material is confidential and may not be reproduced or disclosed (in whole or in part) to any other person without our prior written permission. The manner of distribution of the Material and the availability of the products and services may be restricted by law or regulation in certain countries and persons who come into possession of the Material are required to inform themselves of and observe such restrictions. The contents of the Material have not been reviewed by any regulatory authority in Singapore or any other jurisdictions. If you have any doubt about any of the contents of the Material, you should obtain independent professional advice.