IB General Marketing Presentation Disclaimer

This document is provided to you by the Investment Banking department of Nomura (“Nomura”) and may contain contributions from employees of the Nomura group of companies.    This document is confidential and has been furnished to the intended recipient solely for such recipient’s information and no part of this presentation may be copied, distributed, published or reproduced, in whole or in part, or disclosed by any recipient to any other person.  If you are not the intended recipient of this document, please delete and destroy all copies.  The Information is subject to the following terms:

It is provided to you to promote investment services generally and Nomura and/or connected persons do not accept any liability whatsoever for any direct, indirect or consequential loss arising from any direct or indirect use of the information herein (including for any error, or in relation to the accuracy, completeness or correctness of this document  or in relation to any projections, analyses, assumptions and/or opinions contained herein); all information in this document (including any indicative valuation provided by Nomura or information concerning Environmental, Social or Governance (“ESG”) products or services and/or their alignment with any published ESG taxonomy or other ESG framework) is based on sources Nomura believes to be reliable, but we do not represent that it is independently verified by Nomura, accurate or complete (including information that may have been obtained from you in the preparation of this document). The exclusion of liability provided herein shall protect Nomura, its officers, employees, agents, representatives and/or associates in all circumstances; it is intended for professional clients and eligible counterparties as defined under the applicable regulatory rules in the European Economic Area or United Kingdom, and is therefore provided on the basis that you have such knowledge and experience to evaluate its merits and risks and are capable of undertaking your own objective analysis of the Information with respect to your specific requirements; it is not intended to form the basis of any investment decision and does not constitute or form part of any offer to sell or the invitation to subscribe for, hold or purchase any securities or any other investment. 

The receipt of this document by any recipient is not to be taken as constituting the giving of investment advice to any recipient; no assurance or guarantee is provided (implied or otherwise), that any opinions contained in this document related to any forecasts will be met and nothing contained herein is a guarantee or promise of future results. Any indicative valuations included  in this document should not be regarded as Nomura’s opinion of the value of the expected proceeds of any transaction;  information contained, and any estimates, valuations or opinions expressed, in this document are subject to change at any time and Nomura is under no obligation to inform the intended recipient or any other person of any such change.  Past performance does not guarantee or predict future performance; no information in this document forms the basis of, or is to be relied upon, in connection with any contract or commitment on the part of Nomura to provide investment banking services; nothing contained herein should be construed as legal, regulatory accounting or tax advice.  We recommend that the recipient seek independent third party, regulatory, accounting or tax advice regarding the contents of this document;  Nomura has adopted policies and procedures to preserve the independence of its independent investment research department. Any views expressed in this document may differ from the views offered in Nomura’s independent investment research reports or other investment recommendations prepared for investors; with regard to any league table contained or referenced herein, contact details of any relevant data provider is available upon request for the purposes of confirming the source, methodology and accuracy of any information contained in the league table.

With regard to any financial instruments, any prices, yields, figures, projections and examples or opinions expressed are subject to change without notice and may be derived from public or Nomura sources (which may not be representative of any theoretical or actual internal valuations employed by us for our own purposes) and based on various factors including, but not limited to, current prices quoted, valuation of underlying assets, market liquidity, Nomura and its affiliates' proprietary models and assumptions, economic, market, regulatory and other conditions as they exist and can be evaluated at the relevant time; not include adjustments for transaction and hedging costs, accounting offsets and provisions, liquidity or credit considerations or other significant factors which may materially change actual values; and refer to past or simulated past market performance neither of which is a reliable indicator of future market performance. 

Consequently Nomura does not represent the information is accurate or complete and makes no representations, warranties or undertakings (express or implied) as to the accuracy, completeness, timeliness or validity of the Information and the Information should not be regarded as implying a value for any instruments referenced in the Information for which there may not be a liquid market; nor used to determine interest payable or other sums due under loan agreements or under other financial instruments or the price or performance of any financial instrument.

Nomura uses information barriers to protect and control information flows within the firm.   Investment Banking activities are undertaken separately and independently of public side activities conducted by the sales, structuring and/ or trading departments of Nomura  who may trade in any financial instruments mentioned in this document for its own account and/or client accounts and interests may be contrary to any opinion(s) or recommendation(s) offered in the document. Nomura also may have acted as an underwriter of financial instruments or other products mentioned and may currently be providing investment banking services to the issuers of such financial instruments or products.

Nomura International plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Nomura Financial Products Europe GmbH (“NFPE”) is a company registered in Germany with the Amtsgericht Frankfurt am Main under HRB 110223 and registered office at Frankfurt am Main, Rathenauplatz 1, 60313 Frankfurt am Main, Germany. NFPE is authorized and regulated by the Federal Financial Supervisory Authority (BaFin), with the reference number 148807. Banque Nomura France (”BNF”) is a company registered in France under RCS Paris 317 496 446 00046 and registered office at 7 place d’Iéna 75116 Paris. BNF is authorized and regulated by the Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers.   Nomura Singapore Limited and Nomura Securities Singapore Pte. Ltd. (collectively the “Nomura SG Entities”), together with their foreign-related corporations (“Nomura FRCs”), deals with Singapore domiciled clients through various cross border business arrangements which are subjected to the supervision of the Monetary Authority of Singapore. These representatives representing the Nomura FRCs in their dealings with the Singapore domiciled clients are not licensed under, nor subjected to the MAS’ regulations. Should you have any questions or like to know more information on this cross border business arrangement, you may reach out to your respective sales representative(s).