Any Document/Presentation that has been prepared by Lion’s Paw is intended for professional/qualified investors. It is provided for information purposes only and is for the exclusive use of the recipient. Information in such document/presentations constitutes neither a solicitation nor an offer nor a personal recommendation to buy or sell any product, to effect transactions nor to conclude any transaction of any kind and does not release the recipient from exercising his/her own judgment.

The recipient is in particular recommended to check that the information provided are in line with his/her own circumstances with regard to any legal, regulatory, tax or other consequences, if necessary, with the help of a professional advisor. The taxation in particular varies depending on the country of domicile of the client. It is the client’s sole responsibility to make sure he understands the tax implications and the reporting requirements according to his domestic law. Before investing, prospective clients should consult with an independent tax adviser or request a legal opinion with respect to the taxation of the product. Lion’s Paw cannot be held liable for any tax consequences resulting from the investment.

All data in these documents/presentations are accurately researched and are obtained from sources believed to be reliable, but no representations or warranties are assumed for the completeness and accuracy of the data provided herein. The same applies to all data that are delivered from the custodian banks, particularly position and calculation data of the portfolio. Hence, possible claims related to the delivered data are to be addressed exclusively to the custodian bank. The overviews are produced with utmost care. The performance data are calculated applying market-standard valuation and recognized calculation methods. However, overviews may contain certain deviations from the statements produced and issued by the custodian bank. Particularly affected are performance data and the assignment (classification) of the portfolio positions in case of consolidation as well as the valuation and classification of these positions. Any liabilities related to these deviations are therefore excluded.

The development of the values originates in the past. Past performance is no guarantee for future gains and positive performance. Hence, a guarantee cannot be given for asset preservation or increase. Certain graphs and/or performance figures may not yet include fees. All investments involve risks especially with regard to fluctuations in value and return. Investments in foreign currencies involve the additional risk that the foreign currency might lose value against the investor’s reference currency. Before deciding on the investment, we invite you to read the prospectus and note the risk factors.

The financial instruments mentioned in these documents/presentations have been established under the respective laws in force. Subscriptions are only valid on the basis of the current sales prospectus, simplified prospectus or key investor information document (if established) and the most recent annual report (or half yearly report, if this is more recent). The classification of the financial instruments may change in future and does not represent a guarantee. Potential conflicts of interests cannot be excluded. For each financial instrument cited in this document a more specific disclaimer of reference is provided upon demand.

The information contained, and the opinions expressed by Lion’s Paw are provided in good faith but without legal responsibility and they are subject to change without notice and without obligation to update once published information. No guarantee or undertaking is offered regarding completeness, reliability or accuracy of the information given. This document is directed to the recipient only and, save where expressly provided otherwise, cannot be reproduced, disclosed and/or distributed in part or in full to any third party without Lion’s Paw prior written permission. It is in particular not directed at, or intended for distribution to or access by any person or entity who is a citizen or a resident of any jurisdiction where the information in question would be prohibited by law or regulations. In particular, no distribution can be made to United States or to US Person.

Lion’s Paw is an asset management company (Vermögensverwalter) licensed by the Swiss Financial Market Supervisory Authority FINMA and is subject to supervision by the Swiss Supervisory Organization FINcontrol Suisse Ltd.

LION’S PAW LTD