Common use of GTN Asia Financial Services Clause in Contracts

GTN Asia Financial Services. (Pte.) Ltd, (‘GTN ASIA’) had entered into arrangements with third-party service providers (‘SP’) who offer clients the ability to lend out certain of their fully paid and excess margin securities to the SP, which SP may then lend to other SP clients or to other market participants who wish to use these securities for short selling or other purposes. “Fully Paid Securities” are securities in your account that have been completely paid for. “Excess-margin securities” are securities that have not been completely paid for, but whose market value exceeds 140% of your margin debit balance. In this disclosure and in the relevant agreements, we collectively refer to fully paid and excess margin securities as “Fully Paid Securities”. Lending out your Fully Paid Securities may be a way to increase the yield on your portfolio, because some securities are in high demand in the securities lending market and borrowers are willing to pay a loan fee for the use of your securities. In the SP’s, Fully Paid Securities Lending Program (the “Program”), you permit the SP to borrow from you any Fully Paid Securities in your portfolio and loan these securities out in the securities lending market. SP will have the discretion to initiate loans of your securities. You will not be asked to approve each loan before it is initiated, but you can sell your securities at any time and/or terminate your participation in the program. SP will pay GTN ASIA a loan fee for the securities that it borrows from you. Ordinarily SP will pay GTN ASIA a percentage of the net loan fee received by the SP for lending your securities. SP’s net loan fee used to calculate GTN ASIA’s loan fees may be less than the gross fees received by the SP for relending your securities because of certain deductions and charges. GTN ASIA upon receipt of loan fee will pay you an agreed percentage of the fees it receives from the SP. This amount will be credited to the account within 10 working days of receipt of fees from the SP to GTN ASIA. Basic mechanics of a fully paid lending transaction When the lending transaction takes place, your securities will be designated as on loan. In return, SP will hold collateral for you to secure the amount of the loan. The current industry convention for the collateral calculation will be applied to ensure the collateral held is equivalent to or exceeds the value of the securities lent. SP will be the counterparty borrower to all of the loans you make. That is, as a client, you are transacting with SP, which may, in turn, then transact on any relevant markets. For all transactions in which you are lending your Fully Paid Securities, SP will be the borrower and SP will be the party providing the collateral for you on the securities loan and paying your loan fees to GTN ASIA. The Loaned Securities may be used by the SP for any purpose permitted under Regulations including, but not limited to, to satisfy delivery requirements resulting from short sales, to cover a short sale or a failure to deliver, to satisfy customer possession and control requirements or to further on‐lend the Loaned Securities to a third party.

GTN Asia Financial Services. (Pte.) Ltd, (‘GTN ASIA’) had entered into arrangements with third-party service providers (‘SP’) who offer clients the ability to lend out certain of their fully paid and excess margin securities to the SP, which SP may then lend to other SP clients or to other market participants who wish to use these securities for short selling or other purposes. “Fully Paid Securities” are securities in your account that have been completely paid for. “Excess-Excess- margin securities” are securities that have not been completely paid for, but whose market value exceeds 140% of your margin debit balance. In this disclosure and in the relevant agreements, we collectively refer to fully paid and excess margin securities as “Fully Paid Securities”. Lending out your Fully Paid Securities may be a way to increase the yield on your portfolio, because some securities are in high demand in the securities lending market and borrowers are willing to pay a loan fee for the use of your securities. In the SP’s, Fully Paid Securities Lending Program (the “Program”), you permit the SP to borrow from you any Fully Paid Securities in your portfolio and loan these securities out in the securities lending market. SP will have the discretion to initiate loans of your securities. You will not be asked to approve each loan before it is initiated, but you can sell your securities at any time and/or terminate your participation in the program. SP will pay GTN ASIA a loan fee for the securities that it borrows from you. Ordinarily SP will pay GTN ASIA a percentage of the net loan fee received by the SP for lending your securities. SP’s net loan fee used to calculate GTN ASIA’s loan fees may be less than the gross fees received by the SP for relending your securities because of certain deductions and charges. GTN ASIA upon receipt of loan fee will pay you an agreed percentage of the fees it receives from the SP. This amount will be credited to the account within 10 working days of receipt of fees from the SP to GTN ASIA. Basic mechanics of a fully paid lending transaction When the lending transaction takes place, your securities will be designated as on loan. In return, SP will hold collateral for you to secure the amount of the loan. The current industry convention for the collateral calculation will be applied to ensure the collateral held is equivalent to or exceeds the value of the securities lent. SP will be the counterparty borrower to all of the loans you make. That is, as a client, you are transacting with SP, which may, in turn, then transact on any relevant markets. For all transactions in which you are lending your Fully Paid Securities, SP will be the borrower and SP will be the party providing the collateral for you on the securities loan and paying your loan fees to GTN ASIA. The Loaned Securities may be used by the SP for any purpose permitted under Regulations including, but not limited to, to satisfy delivery requirements resulting from short sales, to cover a short sale or a failure to deliver, to satisfy customer possession and control requirements or to further on‐lend the Loaned Securities to a third party.

GTN Asia Financial Services. (Pte.) Ltd, (‘GTN ASIA’) had entered into arrangements with third-party service providers provider (‘SP’) who offer clients the ability to lend out certain of their fully paid and excess margin securities to the SP, which SP may then lend to other SP clients or to other market participants who wish to use these securities for short selling or other purposes. “Fully Paid Securities” are securities in your account that have been completely paid for. “Excess-margin securities” are securities that have not been completely paid for, but whose market value exceeds 140% of your margin debit balance. In this disclosure and in the relevant agreements, we collectively refer to fully paid and excess margin securities as “Fully Paid Securities”. Lending out your Fully Paid Securities may be a way to increase the yield on your portfolio, because some securities are in high demand in the securities lending market and borrowers are willing to pay a loan fee for the use of your securities. In the SP’s, Fully Paid Securities Lending Program (the “Program”), you permit the SP to borrow from you any Fully Paid Securities in your portfolio and loan these securities out in the securities lending market. SP will have the discretion to initiate loans of your securities. You will not be asked to approve each loan before it is initiated, but you can sell your securities at any time and/or terminate your participation in the program. SP will pay GTN ASIA a loan fee for the securities that it borrows from you. Ordinarily SP will pay GTN ASIA a percentage of the net loan fee received by the SP for lending your securities. SP’s net loan fee used to calculate GTN ASIA’s loan fees may be less than the gross fees received by the SP for relending your securities because of certain deductions and charges. GTN ASIA upon receipt of loan fee will pay you an agreed percentage of the fees it receives from the SP. This amount will be credited to the account within 10 working days of receipt of fees from the SP to GTN ASIA. Basic mechanics of a fully paid lending transaction When the lending transaction takes place, your securities will be designated as on loan. In return, SP will hold collateral for you to secure the amount of the loan. The current industry convention for the collateral calculation will be applied to ensure the collateral held is equivalent to or exceeds the value of the securities lent. SP will be the counterparty borrower to all of the loans you make. That is, as a client, you are transacting with SP, which may, in turn, then transact on any relevant markets. For all transactions in which you are lending your Fully Paid Securities, SP will be the borrower and SP will be the party providing the collateral for you on the securities loan and paying your loan fees to GTN ASIA. The Loaned Securities may be used by the SP for any purpose permitted under Regulations including, but not limited to, to satisfy delivery requirements resulting from short sales, to cover a short sale or a failure to deliver, to satisfy customer possession and control requirements or to further on‐lend the Loaned Securities to a third party.