Common use of Foreign Exchange/Commodities Clause in Contracts

Foreign Exchange/Commodities. i) The risk of loss in trading foreign exchange contracts and/or commodity contracts, or options in either of them, can be substantial. I should therefore carefully consider whether this form of transaction is appropriate for me in the light of my financial circumstances and investment objectives. ii) Trading in foreign exchange and/or commodities is entirely speculative and carries inherent risks not ordinarily experienced in less volatile investment arrangements. Foreign exchange markets and or commodity markets may move abruptly or unpredictably and substantial losses may be incurred. Ver. 1/February/ 2018 Page 2 of 13 iii) Where trading contracts or other investments are denominated in currencies other than my primary reference currency, or where I convert funds from another currency upon making an investment, there is the risk that if the foreign exchange markets move against me, then, upon maturity or any earlier dealing date, the net proceeds converted into my primary reference currency (or the currency from which the initial funds were converted (as the case maybe) may be significantly less than the equivalent figure on the date the contract was entered into or the investment was made. iv) Where liabilities in one currency are matched by an asset in a different currency, or where assets are denominated in a currency other than my reference currency, movements in exchange rates may have a separate effect, unfavorable or favorable, on any gain or loss otherwise experienced on the investment.

Foreign Exchange/Commodities. i) The risk of loss in trading foreign exchange contracts and/or commodity contracts, or options in either of them, can be substantial. I should therefore carefully consider whether this form of transaction is appropriate for me in the light of my financial circumstances and investment objectives. ii) Trading in foreign exchange and/or commodities is entirely speculative and carries inherent risks not ordinarily experienced in less volatile investment arrangements. Foreign exchange markets and or commodity markets may move abruptly or unpredictably and substantial losses may be incurred. Ver. 1/February/ 2018 Page 2 of 13. iii) Where trading contracts or other investments are denominated in currencies other than my primary reference currency, or where I convert funds from another currency upon making an investment, there is the risk that if the foreign exchange markets move against me, then, upon maturity or any earlier dealing date, the net proceeds converted into my primary reference currency (or the currency from which the initial funds were converted (as the case maybemay be)) may be significantly less than the equivalent figure on the date the contract was entered into or the investment was made. iv) Where liabilities in one currency are matched by an asset in a different currency, or where assets are denominated in a currency other than my reference currency, movements in exchange rates may have a separate effect, unfavorable or favorable, on any gain or loss otherwise experienced on the investment.