Common use of Risk Disclosures and Acknowledgement Clause in Contracts

Risk Disclosures and Acknowledgement. 11.1. The Client acknowledges that it/he/she has read and understands the risk disclosures and other information set out in Appendix 2 and that the Client understands its/his/her obligations set out in this Supplement and Appendix 2. 11.2. The Client acknowledges that it/he/she understands and has assessed the risks relating to Stock Connect (including but not limited to those as set out in Appendix 2) and the Client is willing to undertake those risks. 11.3. The Client acknowledges that Galaxy International Securities is not liable for any Loss the Client may suffer as a result of the materialization of any of the risks described in Appendix 2 or other risks relating to trading under Stock Connect. 11.4. The Client acknowledges and accepts that Galaxy International Securities does not provide any Short Selling or Stock Borrowing and Lending services in respect of the China Connect Securities and as a result, relevant clauses in the Terms and Conditions (including but not limited to clause 6.5 (g) of this Supplement) do not apply. 11.5. The Client acknowledges that it/he/she must comply with all Applicable Requirements applicable to its/his/her trading of China Connect Securities through Stock Connect. In particular, the Client acknowledges that among other things, the following in respect of Northbound Trading: (a) no day trading is allowed (i.e. China Connect Securities purchased on a Trading Day shall not be sold on the same day); (b) unless an SPSA Order arrangement is in place, pre-trade checking is in place so that the Client must have its/his/her China Connect Securities transferred to Galaxy International Securities’ corresponding CCASS account before trading commences on a Trading Day if it/he/she intends to sell those China Connect Securities during that Trading Day; (c) all trading must be conducted on a China Connect Market, i.e. no over-the-counter or manual trades are allowed; (d) naked short selling is not allowed; (e) foreign ownership limits (including the individual shareholding limit (currently at 10%) and the aggregate shareholding limit (currently at 30%) which are applicable to foreign investors and the forced-sale arrangement) are in place, and Galaxy International Securities shall have the right to sell the Client’s shares upon receiving any forced-sale notification from HKEx. The Client shall not in any event claim against Galaxy International Securities for any losses or damages incurred by the Client arising from or in connection with such foreign ownership limits; (f) the Client should understand fully the Applicable Requirements in relation to “short swing profits” and its/his/her disclosure obligations (including, but not limited to, the shareholding disclosure requirement (currently at 5%) applicable to persons who invest in A shares under the applicable laws of Mainland China), and it/he/she should follow such rules and regulations accordingly; (g) Galaxy International Securities shall have the right to cancel the Client’s orders in case of contingency, such as when a Typhoon Signal No. 8 or above is hoisted in Hong Kong. The Client shall not in any event claim against Galaxy International Securities for any losses or damages incurred by it/him/her arising from or in connection with such cancellation; (h) Galaxy International Securities may not be able to send in a Client’s request to cancel an order in case of contingency, such as when HKEx loses all its communication lines with a China Connect Market Operator, and the Client should still be liable for the settlement obligations if the orders are matched and executed; (i) the Client must comply with the Operator Rules and other applicable laws of Mainland China relating to Northbound Trading; (j) Galaxy International Securities is entitled to provide information regarding the Client’s identity or such other information (including Client’s personal data and trading activities) to SEHK or its subsidiary which may disclose, transfer and provide such information to a Stock Connect Authority for the purposes of assisting in any surveillance and investigation by a Stock Connect Authority; (k) if the Operator Rules are breached, or the disclosure and other obligations referred to in the Operator Listing Rules or Operator Rules are breached, the relevant China Connect Market Operator may have the power to carry out an investigation, and the relevant China Connect Market Operator may, through HKEx or its subsidiaries, require Galaxy International Securities to provide relevant information and materials and to assist in its investigation. The Client shall authorise and fully cooperate with Galaxy International Securities to provide such information and materials; (l) HKEx or its subsidiary may upon a China Connect Market Operator’s request, require Galaxy International Securities to reject orders from the Client and the Client shall not in any event claim against Galaxy International Securities for any losses or damages incurred by the Client arising from or in connection with such rejection; (m) the Client needs to accept all the risks relating to Northbound Trading, including, but not limited to, the risks disclosed in Appendix 2; (n) a China Connect Market Operator may request HKEx or its subsidiaries to require Galaxy International Securities to issue warning statements (verbally or in writing) to the Client, and not to extend Northbound Trading services to the Client. The Client shall not in any event claim against Galaxy International Securities for any losses or damages incurred by the Client arising from or in connection with such non-extension; (o) HKEx and its subsidiaries, the China Connect Market Operators and their subsidiaries, and any Stock Connect Authorities and their respective directors, employees and agents shall not be responsible or held liable for any losses or damages directly or indirectly incurred by the Client or any third parties arising from or in connection with Northbound Trading, or arising from or in connection with the China Connect Market Operator making, amending or enforcing the relevant Operator Rules, or any action taken by it in the discharge of its supervisory functions or regulatory obligations; and (p) the imposition of a Circuit Breaker by a China Connect Market Operator on any trading day of the relevant China Connect Market will result in suspension of trade execution on the relevant China Connect Market. 11.6. The Client acknowledges and accepts that: (a) this Supplement does not purport to disclose all the risks or other material considerations in connection with Northbound Trading or securities transactions in general; (b) this Supplement does not modify any Applicable Requirements (except to the extent set out in this Supplement and permitted under the Applicable Requirements); (c) SEHK has the power not to extend any service relating to trading China Connect Securities through Stock Connect to the Client and the power to require Galaxy International Securities not to accept Instructions from the Client if it is found that the Client, Galaxy International Securities and/or any of Galaxy International Securities’ clients has or may have committed any abnormal trading conduct set out in the Stock Connect Rules or failed to comply with any Stock Connect Rules; (d) the relevant China Connect Market Operator has the power to carry out investigations, and may, through SEHK (or any other governmental or regulatory body), require Galaxy International Securities and/or China Galaxy International to provide relevant information and materials relating to the Client including, without limitation, in relation to the identity, personal data, and trading activity of the Client; and assist in a Stock Connect Authority's investigation in relation to the Client and/or the Client’s trading activity; (e) where a Stock Connect Authority considers that there is a serious breach of the Applicable Requirements, Galaxy International Securities and/or China Galaxy International may be required by a Stock Connect Authority to (a) issue warning statements (verbally or in writing) to the Client; and (b) cease providing the Client with any service relating to trading China Connect Securities through Stock Connect; (f) this Supplement does not constitute any business, legal, tax or accounting advice and that the Client should seek independent professional advice and undertake its/his/her own research and assessment before entering into any transaction through Stock Connect; and (g) the Client should refrain from entering into any transaction through Stock Connect unless it/he/she has fully understood the terms and risks of the relevant transaction, including the extent of its/his/her potential risk of loss.

Risk Disclosures and Acknowledgement. 11.1. (a) The Client Customer acknowledges that it/he/she has read and understands the risk disclosures and other information set out in Appendix 2 this Section and that the Client Customer understands its/his/her obligations set out in this Supplement and Appendix 2Section. 11.2. (b) The Client Customer acknowledges that it/he/she understands and has assessed the risks relating to Stock Connect (including but not limited to those as set out in Appendix 2this Section) and the Client Customer is willing to undertake those risks. 11.3. (c) The Client Customer acknowledges that Galaxy International Securities FSL is not liable for any Loss loss the Client Customer may suffer as a result of the materialization of any of the risks described in Appendix 2 this Section or other risks relating to trading under Stock Connect. 11.4. (d) The Client Customer acknowledges and accepts that Galaxy International Securities FSL does not provide any Short Selling or Stock Borrowing and Lending services in respect of the China Connect Securities and as a result, relevant clauses in the Terms and Conditions (including but not limited to clause 6.5 (g) of this Supplement) Section do not apply. 11.5. (e) The Client Customer acknowledges that it/he/she must comply with all Applicable Requirements applicable to its/his/her trading of China Connect Securities through Stock Connect. In particular, the Client Customer acknowledges that among other things, the following in respect of Northbound Trading: (ai) no day trading is allowed (i.e. China Connect Securities purchased on a Trading Day shall not be sold on the same day); (bii) unless an SPSA Order arrangement is in place, pre-trade checking is in place so that the Client Customer must have its/his/her China Connect Securities transferred to Galaxy International Securities’ FSL’s corresponding CCASS account before trading commences on a Trading Day if it/he/she intends to sell those China Connect Securities during that Trading Day; (ciii) all trading must be conducted on a China Connect Market, i.e. no over-the-counter or manual trades are allowed; (div) naked short selling is not allowed; (ev) foreign ownership limits (including the individual shareholding limit (currently at 10%) and the aggregate shareholding limit (currently at 30%) which are applicable to foreign investors and the forced-sale arrangement) are in place, and Galaxy International Securities FSL shall have the right to sell the ClientCustomer’s shares upon receiving any forced-sale notification from HKEx. The Client Customer shall not in any event claim against Galaxy International Securities FSL for any losses or damages incurred by the Client Customer arising from or in connection with such foreign ownership limits; (fvi) the Client Customer should understand fully the Applicable Requirements in relation to “short swing profits” and its/his/her disclosure obligations (including, but not limited to, the shareholding disclosure requirement (currently at 5%) applicable to persons who invest in A shares A-Shares under the applicable laws of Mainland China), and it/he/she should follow such rules and regulations accordingly; (gvii) Galaxy International Securities FSL shall have the right to cancel the ClientCustomer’s orders in case of contingency, such as when a Typhoon Signal No. 8 or above is hoisted in Hong Kong. The Client Customer shall not in any event claim against Galaxy International Securities FSL for any losses or damages incurred by it/him/her arising from or in connection with such cancellation; (hviii) Galaxy International Securities FSL may not be able to send in a Client’s request to cancel an order in case of contingency, such as when HKEx loses all its communication lines with a China Connect Market Operator, and the Client Customer should still be liable for the settlement obligations if the orders are matched and executed; (iix) the Client Customer must comply with the Operator Rules and other applicable laws of Mainland China relating to Northbound Trading; (jx) Galaxy International Securities FSL is entitled to provide information regarding the ClientCustomer’s identity or such other information (including Client’s personal data and trading activities) to SEHK or its subsidiary which may disclose, transfer and provide such information to a Stock Connect Authority for the purposes of assisting in any surveillance and investigation by a Stock Connect Authority; (kxi) if the Operator Rules are breached, or the disclosure and other obligations referred to in the Operator Listing Rules or Operator Rules are breached, the relevant China Connect Market Operator may have the power to carry out an investigation, and the relevant China Connect Market Operator may, through HKEx or its subsidiaries, require Galaxy International Securities FSL to provide relevant information and materials and to assist in its investigation. The Client Customer shall authorise and fully cooperate with Galaxy International Securities FSL to provide such information and materials; (lxii) HKEx or its subsidiary may upon a China Connect Market Operator’s request, require Galaxy International Securities FSL to reject orders from the Client Customer and the Client Customer shall not in any event claim against Galaxy International Securities FSL for any losses or damages incurred by the Client Customer arising from or in connection with such rejection; (mxiii) the Client Customer needs to accept all the risks relating to Northbound Trading, including, but not limited to, the risks disclosed in Appendix 2this Section; (nxiv) a China Connect Market Operator may request HKEx or its subsidiaries to require Galaxy International Securities FSL to issue warning statements (verbally or in writing) to the ClientCustomer, and not to extend Northbound Trading services to the ClientCustomer. The Client Customer shall not in any event claim against Galaxy International Securities FSL for any losses or damages incurred by the Client Customer arising from or in connection with such non-non- extension; (oxv) HKEx and its subsidiaries, the China Connect Market Operators and their subsidiaries, and any Stock Connect Authorities and their respective directors, employees and agents shall not be responsible or held liable for any losses or damages directly or indirectly incurred by the Client Customer or any third parties arising from or in connection with Northbound Trading, or arising from or in connection with the China Connect Market Operator making, amending or enforcing the relevant Operator Rules, or any action taken by it in the discharge of its supervisory functions or regulatory obligations; and (pxvi) the imposition of a Circuit Breaker by a China Connect Market Operator on any trading day of the relevant China Connect Market will result in suspension of trade execution on the relevant China Connect Market. 11.6. (f) The Client Customer acknowledges and accepts that: (ai) this Supplement Section does not purport to disclose all the risks or other material considerations in connection with Northbound Trading or securities transactions in general; (bii) this Supplement Section does not modify any Applicable Requirements (except to the extent set out in this Supplement Section and permitted under the Applicable Requirements); (ciii) SEHK has the power not to extend any service relating to trading China Connect Securities through Stock Connect to the Client Customer and the power to require Galaxy International Securities FSL not to accept Instructions instructions from the Client Customer if it is found that the ClientCustomer, Galaxy International Securities FSL and/or any of Galaxy International Securities’ FSL’s clients has or may have committed any abnormal trading conduct set out in the Stock Connect Rules or failed to comply with any Stock Connect Rules; (div) the relevant China Connect Market Operator has the power to carry out investigations, and may, through SEHK (or any other governmental or regulatory body), require Galaxy International Securities and/or China Galaxy International FSL to provide relevant information and materials relating to the Client Customer including, without limitation, in relation to the identity, personal data, and trading activity of the ClientCustomer; and assist in a Stock Connect Authority's investigation in relation to the Client Customer and/or the ClientCustomer’s trading activity; (ev) where a Stock Connect Authority considers that there is a serious breach of the Applicable Requirements, Galaxy International Securities and/or China Galaxy International FSL may be required by a Stock Connect Authority to (a) issue warning statements (verbally or in writing) to the ClientCustomer; and (b) cease providing the Client Customer with any service relating to trading China Connect Securities through Stock Connect; (fvi) this Supplement Section does not constitute any business, legal, tax or accounting advice and that the Client Customer should seek independent professional advice and undertake its/his/her own research and assessment before entering into any transaction through Stock Connect; and (gvii) the Client Customer should refrain from entering into any transaction through Stock Connect unless it/he/she has fully understood the terms and risks of the relevant transaction, including the extent of its/his/her potential risk of loss.