360 Easy Payroll Services

360 Easy Payroll Services General Terms and Conditions: 1. Promotion Period is from 1 Jul 2015 to 31 Dec 2015 (both dates inclusive) ("Promotion Period"). 2. Dah Sing Octopus App Card refers to Dah Sing Octopus VIP App Card, Dah Sing Octopus YOU Banking App Card and Dah Sing Octopus i-account App Card. Dah Sing Bank, Limited (the "Bank")'s transaction records of Dah Sing Octopus App Card's Automatic Add Value Service ("AAVS") shall be final and conclusive. Any un-posted AAVS transactions will not be counted. 3. All offers (except for the Member-get-member Offer) are not applicable to the staff of Dah Sing Financial Holdings Limited, its subsidiaries and affiliates. 4. All offers cannot be used in conjunction with other promotional offers. The Bank reserves the right to amend, suspend or withdraw the offers mentioned herein or amend these terms and conditions without prior notice. In the case of any disputes, the decision of the Bank shall be final and conclusive. 5. All offers are only applicable to primary account holder of the payroll account. For joint account, only the primary account holder is eligible for the offer. Besides, all the designated banking transactions (please refer to Terms and Conditions No. 19) and eligible transactions (please refer to Terms and Conditions No. 24), only those transactions made by the primary account holder would be counted. 6. In order to provide better services, all customers who join the 360 Easy Payroll Services promotion agree to receive SMS or message via any other means regarding the latest information of his/her account and offers relating to the products, services and/ or subjects set out in paragraph G of the Bank's Notice to customers relating to Customers' Data made available to customers from time to time. 7. The relevant interest rates are for reference only and are not guaranteed. The Bank reserves the rights to suspend, revise or terminate the relevant offers and interest rates at any time and to amend the terms and conditions thereof from time to time, without further notice. 8. For fees, charges, terms and conditions in relations to i-account and other services, please refer to the Master Terms and Conditions and the Bank Service Charges of the Bank or contact Customer Service Officers of the Bank for details. 9. These terms and conditions shall be governed by and construed in accordance with the laws of Hong Kong SAR. 10. In the case of any discrepancy between the Chinese and English versions of this material, the Chinese version shall prevail. Terms and Conditions for 360 Easy Payroll Services Offers A. General Terms and Conditions 11. The offers for 360 Easy Payroll Services ("Payroll Services") comprise the following promotional offers, which are subject to respective terms and conditions: Bonus Savings Interest Rate, Spending & Payment Reward, Welcome Offer, Online Appointment Reward and Online Application Reward, Securities Services Welcome Offer, Credit Card Welcome Offer, Member-get-member Program and Dah Sing Octopus App Card Welcome Offer. 12. Except for the Dah Sing Octopus App Card Welcome Offer, the offers set out in Terms and Conditions No. 11 above are only applicable to New Payroll Customer defined as below ("New Payroll Customer"): i. Must not have signed up for Payroll Services of the Bank from 1 Jul 2013 to 30 Jun 2015 (both dates inclusive); ii. Must not have had any payroll deposit in any deposit accounts with the Bank through any methods including autopay and Standing Instruction ( S.I. ) from 1 Jul 2013 till the sign-up date (both dates inclusive); and iii. Must sign up for Payroll Services during the Promotion Period, and make payroll deposit through autopay or transfer salary to the payroll account maintained with the Bank through S.I. 13. New Payroll Customer must be the primary account holder of Payroll Account (please refer to Terms and Conditions No. 14 for the definition of Payroll Account) and must be employed or retiree who is receiving pension on a regular basis (i.e. not applicable to self-employed persons, students, unemployed persons, retiree not receiving pension on a regular basis or housewives). Primary account holder refers to the Applicant mentioned in New Account(s) / Service(s) Application Form signed by the customer. 14. New Payroll Customer must sign up for Payroll Services during the Promotion Period and make payroll deposit in the HKD Current Account of VIP i-account / YOU i-account / i-account maintained with the Bank ("Payroll Account") through autopay (please refer to Terms and Conditions No. 15 for definition of autopay), or transfer salary from deposit account under the same name of the customer maintained with other bank to the Payroll Account through S.I.. The actual payroll deposit method must be the same as the "Salary Credit Method" stated in the application form for Payroll Services. The minimum payroll deposit amount per transaction through autopay or S.I.n must be HK$5,000 and HK$10,000 respectively; and the same as or higher than the "Salary Credit Amount per Transaction" stated in the application form for

Payroll Services ("Eligible Payroll Transaction"). Such an amount must be the net salary amount after deducting contributions under Mandatory Provident Fund or recognized occupational retirement scheme. 15. Autopay refers to the automatic payment arrangement pursuant to which customer's employer credits the customer's salary to customer's Payroll Account automatically and such arrangement is authorized by the employer. Cash deposit and cheque deposit will not be accepted as Autopay in relation to payroll payments. 16. Except for the Dah Sing Octopus App Card Welcome Offer, the offers set out in Terms and Conditions No. 11 above will only be valid after the New Payroll Customer's first Eligible Payroll Transaction has been recorded by the Bank. If customer has not had any monthly Eligible Payroll Transactions in the Payroll Account for 2 consecutive months, the Payroll Account will no longer be entitled to any offers set out in Terms and Conditions No. 11 without prior notice. The offers will not be applicable even though the customer uses the related services again in the future. 17. The date, the actual monthly Eligible Payroll Transaction amount being transferred to the Bank, actual payroll deposit method or other relevant information of the payroll transactions are subject to the Bank's record. In case of any disputes, the decision of the Bank shall be final and conclusive. B. Terms and Conditions for Bonus Savings Interest Rate: 18. New Payroll Customer can enjoy Bonus Savings Interest Rate until 31 Dec 2016. Bonus Savings Interest Rate is only applicable to the New Payroll Customer who has Eligible Payroll Transaction recorded in the Payroll Account. Interest is calculated daily on a simple interest basis and will be credited monthly. Interest will be credited to the Payroll Account in the subsequent month. For days fall on public holiday (including Sunday), Bonus Savings Interest is calculated on the deposit amount in Payroll Account as of the preceding working day. If the customer has not had any monthly Eligible Payroll Transactions in the Payroll Account for 2 consecutive months, the Bonus Savings Interest Rate will be terminated. Bonus Savings Interest Rate may not be applicable even though the customer uses the related services again in the future. Normal savings rate of VIP i-account / YOU i-account / i-account will be applied to the Payroll Account without prior notice. For details of normal savings rate, please refer to the Bank's website. 19. The Bonus Savings Interest Rate of New Payroll Customer will be offered according to the deposit amount in the Payroll Account and the transaction record in the Payroll Account in the respective month. For details in relation to deposit amount, please contact the Bank s staff. The basic requirement is that New Payroll Customer must have Eligible Payroll Transaction record in the respective month. i. New Payroll Customer with any of the following types of transaction recorded in the Payroll Account will earn additional Bonus Savings Interest Rate accordingly, based on the number of types used regardless of the number of transaction in each type: Type (1) Dah Sing Octopus App Card s reload record with AAVS transaction (the posting date recorded in Payroll Account shall be final); New Payroll Customer is required to activate the AAVS in respect of his / her Dah Sing Octopus App Card and designate the Payroll Account as the AAVS Account. Type (2) Bill payment transaction with single transaction amount of HK$500 or above is recorded (only applicable to designating Payroll Account as debit account and autopay instruction being set up at the Bank s branch and bill payment through PayEasy Bill Payment, Fund Transfer within Dah Sing Bank (only applicable to fund transfer to Dah Sing credit card or cash card) or Settle Dah Sing Bank Payment via either Dah Sing e-banking or Mobile Banking). Type (3) Record of the following designated banking transactions performed successfully via Dah Sing e-banking or Mobile Banking: (i) Fund transfer to Dah Sing Bank s Payroll Account through e-deposit with single transaction amount of HK$10,000 or above, or (ii) Placing Normal Fixed Deposit with single transaction amount of HK$50,000 (or equivalent) or above (only applicable to transaction designating Payroll Account as debit account and excluding Monthly Gain Fixed Deposit), or (iii) Fund Transfer to Other Bank with single transaction of HK$10,000 or above (only applicable to Transfer Express or Transfer Free and designating Payroll Account as debit account). Type (4) Securities transaction record via Dah Sing "i-securities" / "Mobile Securities" (only applicable to securities buy or sell transaction designating Payroll Account or the savings account under the same integrated account as securities settlement account and a single transaction amount of HK$25,000 or above being recorded, excluding IPO application). Transaction amount refers to the gross transaction amount excluding brokerage and other relevant charges incurred.

Type (5) Type (6) Foreign Exchange transaction record for any Buy transaction, i.e. exchange HKD with any foreign currencies, with a single transaction amount of HK$50,000 or above and designating Payroll Account as debit account. This offer is not applicable to any notes exchange or issuance of demand draft. Spending transaction record with single transaction amount of HK$2,000 or above made through EPS or UPI network (designating the Payroll Account or the savings account under the same integrated account as debit account). The transactions record of Type (1) and Type (3)(ii) would be counted according to the Bank s record and the posting date (i.e. the debit or credit date of the Payroll Account); while the rest of the transactions would be counted according to the date of transaction. Any unposted, cancelled or reversed transactions would not be counted. In case of any disputes, the decision of the Bank shall be final and conclusive. ii. Payroll Account with deposit amount of HK$100,000 or above can enjoy the Bonus Savings Interest Rate (p.a.) as follows, subject to a maximum Bonus Savings Interest per month of HK$1,500: a. Payroll Account with deposit amount of HK$100,000 or above and below HK$800,000 Account Type VIP i-account YOU i-account i-account Salary Credit Method Designated Transaction Record(s) in Payroll Account in the respective month Autopay S.I. Autopay S.I. Autopay S.I. Payroll only 0.70% 0.60% 0.60% 0.50% 0.30% 0.20% Payroll plus any 1 Type 0.85% 0.65% 0.75% 0.55% 0.45% 0.25% Payroll plus any 2 Types 1.00% 0.70% 0.90% 0.60% 0.60% 0.30% Payroll plus any 3 Types 1.15% 0.75% 1.05% 0.65% 0.75% 0.35% Payroll plus any 4 Types 1.30% 0.80% 1.20% 0.70% 0.90% 0.40% Payroll plus any 5 Types 1.45% 0.85% 1.35% 0.75% 1.05% 0.45% Payroll plus any 6 Types 1.60% 0.90% 1.50% 0.80% 1.20% 0.50% b. Payroll Account with deposit amount of HK$800,000 or above Account Type VIP i-account YOU i-account i-account Salary Credit Method Designated Transaction Record(s) in Payroll Account in the respective month Autopay S.I. Autopay S.I. Autopay S.I. Payroll only 1.10% 0.70% 0.70% 0.60% 0.40% 0.30% Payroll plus any 1 Type 1.25% 0.75% 0.85% 0.65% 0.55% 0.35% Payroll plus any 2 Types 1.40% 0.80% 1.00% 0.70% 0.70% 0.40% Payroll plus any 3 Types 1.55% 0.85% 1.15% 0.75% 0.85% 0.45% Payroll plus any 4 Types 1.70% 0.90% 1.30% 0.80% 1.00% 0.50% Payroll plus any 5 Types 1.85% 0.95% 1.45% 0.85% 1.15% 0.55% Payroll plus any 6 Types 2.00% 1.00% 1.60% 0.90% 1.30% 0.60% Example: If a New Payroll Customer who is the primary account holder for a VIP i-account, uses Payroll Services in July 2015 and has Eligible Payroll Transaction record (Salary Credit Method is Autopay), Dah Sing Octopus VIP App Card's AAVS transaction record, autopay of bill payment transaction record, fund transfer HK$10,000 to other bank via Dah Sing e-banking record and securities buy transaction of HK$50,000 via Dah Sing Mobile Securities record, performed POS transaction with single amount of HK$2,000 via EPS and subscribed HK$50,000 or equivalent foreign exchange, the Bonus Savings

Interest Rate for deposit amount in Payroll Account of HK$900,000 and HK$100,000 are 2% p.a. and 1.6% p.a. respectively in that month. Subsequently, if that customer only has Eligible Payroll Transaction record and Dah Sing Octopus VIP App Card's AAVS transaction record in Aug 2015, but without any other designated banking transaction record, the Bonus Savings Interest Rate for deposit amount in Payroll Account of HK$800,000 and HK$100,000 are 1.25% p.a. and 0.85% p.a. respectively in that month. 20. Customer must maintain Payroll Services in the Payroll Account at the time of the Bonus Savings Interest being credited. Otherwise, the customer is forfeited the right to redeem the Bonus Savings Interest. The amount of Bonus Savings Interest is subject to the post date of transaction record in the Payroll Account (i.e. the debit or credit date of the Payroll Account) / transaction date and the account type of customer on the last working day of the month with the transaction record(s). In case of any disputes, the decision of the Bank shall be final and conclusive. 21. The bonus interest is calculated on the basis of 365 days in a year (for both ordinary year & leap year). C. Terms and Conditions for Spending and Payment Reward 22. The Spending and Payment Reward is only applicable to new customers. New customers refer to those customers who do not have any deposit account with the Bank during the period from 1 Jun to 30 Jun 2015. 23. The Spending and Payment Reward for new customers would be calculated according to those eligible transactions (please refer to Terms and Conditions No. 24 for definition of eligible transactions) conducted via the designated account for 6 months since the successful enrollment of the Payroll Services ( reward period ). Cash rebate would be calculated according to 2% of the total amount of spending and payment of that month, with reference to the post date/transaction date of the record. Each new customer and each Payroll Account can only be entitled to up to HK$20 cash rebate per month, and entitled to up to HK$120 cash rebate for the whole reward period. 24. Eligible transactions are defined as: Type (1) : Autopay for Bill Payment is referred to those autopay instruction set up after theenrollment date of the Payroll Services and with minimum amount of HK$500 per transaction (only applicable to Payroll Account as the debit account). Type (2) : Bill payment transaction record of minimum amount of HK$500 per transaction (only applicable to designating Payroll Account as debit account) and bill payment has to be made by PayEasy Bill Payment via either Dah Sing e-banking or Mobile Banking. Type (3) : Spending transaction record with minimum amount of HK$1,000 per transaction made by EPS or UPI network (designating the Payroll Account or the savings account under the same integrated account as debit account.) The transactions record would be counted according to the date of transaction. Any cancelled or reversed transactions would not be counted. In case of any disputes, the decision of the Bank shall be final and conclusive. Example: Customer enrolled for our Payroll Services on 10 Aug 2015, and then the Bank recorded his first autopay bill payment transaction of HK$400 on 29 Aug 2015 and his HK$1,000 EPS transaction on 31 Oct 2015. He settled his HK$600 bill via NET Easy service online on 26 Feb 2016. Since the customer enrolled for our Payroll Services on 10 Aug 2015 and so all his eligible transactions conducted during 10 Aug 2015 to 29 Feb 2016 (i.e. for 6 months) would be eligible for the 2% Spending and Payment Reward. However, only his HK$1,000 EPS transaction made on 31 Oct 2015 and the HK$600 bill settled via NET Easy service online on 26 Feb 2016 were counted as eligible transactions. As such, the customer would only be entitled to HK$32 for the reward period (i.e. he was eligible to receive HK$20 on Oct 2015 and HK$12 on Feb 2016) and the cash rebate would be credited to his Payroll Account by Mar 2016. 25. Cash rebate will be rounded to the nearest second decimal place. Valid payroll transaction must be recorded in the month for the new customer to be eligible for 2% Spending and Payment Reward. 26. Spending and Payment Reward will be credited to the customer s account within 1 month after the reward period. Each payroll customer and each Payroll Account is only eligible to HK$120 cash rebate for the whole reward period. The records of payroll, spending and payment transactions would be counted according to the Bank s record. In case of any disputes, the decision of the Bank shall be final and conclusive.

27. Customer must maintain a valid Dah Sing i-account and maintain Payroll Services in the Payroll Account at the time of cash reward being credited. Otherwise, the customer is forfeited the right to redeem the cash reward. D. Terms and Conditions for Welcome Offer 28. New Payroll Customer who has Eligible Payroll Transaction record for 2 consecutive months within 3 months after signing up for Payroll Services can enjoy cash reward up to HK$1,000. Cash reward amount will be offered according to the type of Payroll Account, the actual monthly Eligible Payroll Transaction amount transferred to the Bank, and the Salary Credit Method: Actual Monthly Eligible Payroll Transaction Amount Transferred to the Bank (HK$) Maximum Cash Reward Amount (HK$) Payroll Deposit by Autopay VIP i-account YOU i-account i-account Transfer Salary by Standing Instruction VIP i-account YOU i-account i-account $80,000 or above $1,000 $600 $500 $300 $50,000 or above and below $80,000 $300 $200 $30,000 or above and below $50,000 $200 $100 $10,000 or above and below $30,000 N.A. $200 N.A. N.A. $100 N.A. 29. To be eligible for the offer, the minimum actual monthly Eligible Payroll Transaction amount transferred to the Bank by New Payroll Customer must be HK$30,000 for VIP i-account / i-account and HK$10,000 for YOU i-account. 30. Salary refers to basic salary only and the actual monthly Eligible Payroll Transaction amount being transferred to the Bank, whichever is lower. Any commission, extra allowance, overtime allowance, double pay, bonus, reimbursement, and / or other payment on top of the basic salary will be excluded. 31. Each New Payroll Customer and each Payroll Account can only enjoy the offer once. Cash reward amount is subject to the actual monthly Eligible Payroll Transaction amount transferred to the New Payroll Customer's Payroll Account. If the actual monthly Eligible Payroll Transaction amount of the New Payroll Customer deviates from month to month, the cash reward will be calculated according to the customer's lowest actual monthly Eligible Payroll Transaction amount in the first 2 consecutive months. 32. Cash reward will be credited to the Payroll Account within 2 months after New Payroll Customer has fulfilled the relevant criteria. Customer must maintain a valid VIP i-account / YOU i-account / i-account and maintain Payroll Services in the Payroll Account at the time of cash reward being credited. Otherwise, the customer is forfeited the right to redeem the cash reward. Customer is required to return the cash reward to the Bank if he / she ceases to use Payroll Services within 6 months after signing up for Payroll Services. The Bank reserves the right to debit the relevant cash reward from the Payroll Account without prior notice. 33. The amount of cash reward is subject to the account type of customer on the last working day of the month fulfilling the eligibility requirement. In case of any disputes, the decision of the Bank shall be final and conclusive. E. Terms and Conditions for Online Appointment Reward and Online Application Reward : 34. The Online Appointment Reward of HK$200 is applicable to customers without any integrated accounts of the Bank and who successfully submits "Make an Online Appointment to Become YOU Banking Customer to open an YOU account online appointment form through the Bank's website (www.dahsing.com) or the Bank's mobile application and successfully applies for the Bank's Payroll Services at any branches of the Bank during the Promotion Period. 35. The Bank will contact the customer within 3 working days after receipt of the online appointment according to the contact information provided to arrange for sign up for Payroll Services at the Bank's branch. 36. The Online Application Reward of HK$200 is only applicable to existing customers of VIP i-account / YOU i-account / i-account who fulfill the Bank s criteria and successfully submitting "360 Easy Payroll Services Application" online form through Dah Sing e-banking, the Bank's website (www.dahsing.com) or the Bank's mobile application ("Online Application") to successfully apply for the Bank's Payroll Services during the Promotion Period. For details, please contact the Bank s staff. 37. Each New Payroll Customer and each payroll account can enjoy the offer once. In case of a joint-named account, this offer will be only applicable to the primary account holder of Payroll Account who makes the

Payroll Services application online successfully. This offer cannot be enjoyed in conjunction with other online promotion offers. 38. The Online Appointment Reward and the Online Application Reward will be credited to the Payroll Account within 3 months after New Payroll Customer has the first Eligible Payroll Transaction record within 2 months from the effective date of Payroll Services. For Online Appointment Reward, customer must maintain a valid YOU i-account and maintain Payroll Services in the relevant Payroll Account at the time of the relevant reward being credited. Otherwise, the customer is forfeited the right to redeem the relevant reward. For the Online Application Reward, customer must maintain a valid VIP i-account / YOU i-account / i-account and maintain Payroll Services in the relevant Payroll Account at the time of the relevant reward being credited. Otherwise, the customer is forfeited the right to redeem the relevant reward. F. Terms and Conditions for Securities Services Welcome Offer: 39. The Cash Reward of HK$100 is only applicable to New Payroll Customer who opens a new securities account during Promotion Period and executes at least one securities trade on or before 15 Jan 2016. New Securities Account refers to a securities account newly opened with the Bank during the Promotion Period and customer should not have any sole-named or joint-named securities account with the Bank from 1 Jan 2015 to 30 Jun 2015 (both dates inclusive). Each New Payroll Customer and each New Securities Account can enjoy the offer once only. The cash reward will be credited to the settlement account of the eligible customer on or before 31 Mar 2016. 40. Cash Reward of Stocks Investment Savings Plan is only applicable to Payroll Customer who subscribes New Stocks Investment Savings Plan during the Promotional Period. New Stocks Investment Savings Plan refers to the Stocks Investment Savings Plan subscribed from 1 Jul 2015 to 31 Dec 2015 and the customer does not have any valid Stocks Investment Savings Plan from 1 Jan 2015 to 30 Jun 2015. Customer must successfully invest in the plan in the first period after subscription of Stocks Investment Savings Plan to enjoy the HK$100 cash reward. The maximum cash reward of each customer is HK$100. The cash reward will be credited to the settlement account of the eligible customer on or before 31 Mar 2016. 41. Customer must maintain a valid securities account and settlement account and maintain Payroll Services at the Payroll Account at the time of cash reward being credited. Otherwise, customer is not entitled to the cash reward. G. Terms and Conditions for Credit Card Welcome Offer: 42. The Welcome Offer of HK$100 Free Spending Credit is only applicable to New Payroll Customer who successfully applies for a designated Dah Sing credit card during the Promotion Period. The welcome offer is only applicable to principal cardholder who currently does not hold and / or in the past 12 months has not held or cancelled any principal and supplementary credit cards of any card type issued by the Bank. Each new principal cardholder is entitled to welcome offer once regardless of the number of designated Dah Sing credit card applied. For details, please contact the Bank s staff. 43. The HK$100 Free Spending Credit will be credited into the principal cardholder's account within 6 to 8 weeks after the card-issuance date and the principal cardholder's account must be valid and in good standing status at the time such Free Spending Credit is credited. The Free Spending Credit will be used for payment of new transaction items. It is non-transferable, non-refundable and cannot be exchanged for cash. 44. If the principal cardholder cancels his / her new principal card within 13 months from card-issuance date, the Bank reserves the right to debit a handling fee of HK$300 from the relevant principal card account without prior notice.

H. Terms and Conditions for Member-get-member Program: 45. The cash reward of HK$100 will be offered to the Bank's existing customer (please refer to Terms and Conditions No.46 for the definition of the Bank s existing customer) who successfully refers a New Deposit Customer (please refer to Terms and Conditions No.47 for the definition of New Deposit Customer) during the Promotion Period ( Referrer ). 46. The Bank's existing customer refers to the existing customer of the Bank who has any deposit accounts maintained with the Bank. 47. New Deposit Customer refers to a customer who did not have any deposit accounts with the Bank 1 month prior to the account opening and newly opens a VIP i-account / YOU i-account / i-account, signs up for Payroll Services and successfully applies for a Dah Sing Octopus App Card, with Eligible Payroll Transaction within 2 months after signing up for Payroll Services and Dah Sing Octopus App Card's reload record with AAVS transaction in the Bank within 3 months after signing up for Payroll Services. 48. Cash reward will be credited to the Referrer's deposit account within 2 months after the New Customer has fulfilled the relevant criteria. 49. Referrer must maintain a valid deposit account at the time the cash reward is credited, or he is forfeited the eligibility for the offer. I. Terms and Conditions for Dah Sing Octopus App Card Welcome Offer: 50. For details of the Dah Sing Octopus App Card Welcome Offer, please refer to the relevant promotional materials. Important Notice: Foreign Currency Trading Investment involves risks. Foreign currency investments are subject to exchange rate fluctuation which may provide both opportunities and risks. The fluctuation in the exchange rate of foreign currency may result in losses in the event that the customer converts the foreign currency into Hong Kong dollar or other foreign currencies. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related investment mentioned in this document. This document does not purport to identify all the risks that may be involved in the product or investments referred to in this document. Before making investment decision, investors should read and understand the offering documents of such products, including but not restricted on the risk disclosure statement and health warning. Securities Services Investment involves risks. The prices of securities fluctuate, sometimes dramatically. The price of securities may move up or down and may become valueless. Losses may be incurred as well as profits made as a result of buying and selling securities. Customers should carefully consider whether the investment products or services mentioned herein are appropriate for them in view of their investment experience, objectives and risk tolerance level, and read the terms and conditions of relevant Securities Services before making any investment decision. This document does not constitute any offer, invitation or recommendation to any person to enter into any securities transaction, nor does it constitute any prediction of likely future movements in prices of any securities.