DISCLAIMER & CLIENT CATEGORIZATION

Important legal information

Persons accessing this website of BMCP GmbH ("Website") and retrieving information therefrom, including posted documents ("Materials") on the Website, agree to the following terms and conditions as well as the disclaimer ("Conditions"). In addition to these Conditions, special agreements with regard to specific services and products of BMCP GmbH, any affiliates and/or branches of BMCP GmbH or any of its affiliates (hereinafter together, "BMCP") will be in place; in the event of a conflict between the Conditions and the special agreements, the special agreements will precede. Furthermore, in addition to these Conditions, which are subject to change without notice by BMCP, the "Terms of Use" of BMCP will also apply.

Only for Residents of the European Union

The products and services described on the Website are only intended for residents of the European Union (and should not under any circumstances be accessed by US residents or persons) and may not be eligible or suitable for sale in all jurisdictions or to certain categories of investors. The products and services are not intended for persons subject to a jurisdiction that prohibits the publication of and the access to the Website (due to the nationality of the respective person or on any other grounds). Persons who are subject to such restrictions are prohibited from accessing the Website.

The products and services described on the Website are only intended for certain categories of investors. Each investors will be categorized as a retail or as a professional client. Depending on the investors statements and categorization he will only have access to products fitting his investor category. A professional client is a client who possesses the experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs according to Annex II of DIRECTIVE 2014/65/EU.

No Offer, Non-Binding Nature

Marketing notice pursuant to § BT 3.1.1 MaComp The following is a marketing communication and not an investment recommendation. This advertising communication is therefore not a substitute for investment advice and does not take into account the legal provisions promoting the independence of financial analyses, nor is it subject to the prohibition on trading following the dissemination of financial analyses. The information and Materials available as well as the opinions expressed on the Website do not constitute an investment advice or recommendation, and shall not be construed as a solicitation or an offer for sale or purchase of any products, to effect any transactions or to conclude any legal act of any kind whatsoever. The information, Materials and opinions are only published for personal use and information purposes. Nothing therein is based upon the consideration of the particular needs, investment objectives and financial situation of any specific investor, nor are they a complete statement of the products, services, markets or developments. The products and services are not suitable for all investors, and trading in these products is considered risky. Unless specifically stated otherwise, all information, Materials as well as price information is indicative only. The Materials are based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, exact, complete, appropriate or up to date. Any opinions may differ or be contrary to opinions expressed by other business areas or groups of BMCP as a result of using different assumptions and criteria. The information and Materials should not be regarded by investors as a substitute for the exercise of their own judgement. The information on the Website shall not be construed as decision guidance for economic, financial, legal, regulatory, tax, accounting or any other issues. Investors should not make an investment decision or any other decision solely based on this information and Materials. Investors should consult qualified professionals in this regard.

The information, Materials, opinions, products and services are subject to change without notice.

No representation or warranty (either express or implied) is provided in relation to the accuracy, exactness, completeness, appropriateness, actuality or reliability of the information, Materials, opinions published on the Website. BMCP is not under any obligation to update or keep current the information, Materials and opinions as well as to remove outdated information, Materials and opinions from the Website or to mark them as outdated.

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