DISCLAIMER

This information has been issued by Valori Asset Management, which is authorised and regulated for the conduct of investment business in Luxembourg and Italy.

This material is provided to you by Valori Asset Management solely for informational purposes, is intended for your use only and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation, to enter into or conclude any transaction (whether on the indicative terms shown or otherwise).

This material has been prepared by Valori Asset Management based on assumptions and parameters determined by it in good faith. The assumptions and parameters used are not the only ones that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness, or reasonableness of any such quotations, disclosure, or analyses. A variety of other or additional assumptions or parameters, or other market factors and other considerations, could result in different contemporaneous good faith analyses or assessment of the transaction described above. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance.

Opinions and estimates may be changed without notice. The information set forth above has been obtained from or based upon sources believed by Valori Asset Management to be reliable, but Valori Asset Management does not represent or warrant its accuracy or completeness. This material does not purport to contain all of the information that an interested party may desire. In all cases, interested parties should conduct their own investigation and analysis of the transaction(s) described in these materials and of the data set forth in them.