Disclaimer DNB Private Banking

This presentation, report or other material attached to it (the “Information”) is prepared by DNB Private Banking, DNB Bank ASA. DNB Private Banking is a division of the business area Wealth Management. DNB Bank ASA is part of the DNB Group. This Information is intended for the recipients only and is not for re-distribution. Persons receiving this Information must not further distribute or send this Information in or into the United States, Canada, Australia or Japan. Any re-distribution of this Information may constitute a violation under the relevant national securities laws.

The Information is intended as general guidance only and should not be relied upon as legal, financial, commercial, tax or accounting advice. The Information is further not intended as a personal recommendation of any kind, and does not constitute personal investment advice. The recipient of this Information must not make any strategic decisions on the basis of this Information, and should make their own individual assessments of whether any strategies or concrete actions are suitable or appropriate. Such independent own-assessment should be based on the recipient’s relevant knowledge and experience, financial situation and investment objective. If deemed relevant, each recipient of this Information should refer to its legal, financial or commercial advisors for specific and detailed advice.

DNB Private Banking does not warrant that the Information is exact, correct or complete, and does not undertake any obligation to update the Information. DNB Private Banking does not accept any responsibility for direct or indirect losses that are due to the interpretation, and/or use, of this Information.

DNB Private Banking and the DNB Group have incorporated internal rules and regulations in order to avoid, prevent or handle any potential conflicts of interest. DNB Private Banking or DNB Asset Management AS, a part of the DNB Group, or other entities within the DNB Group receive inducements or retrocessions when distributing mutual funds, vehicles for collective investments and other financial instruments and financial products. The inducement or retrocession will depend on the agreements with each management company or product contractor. DNB Private Banking or DNB Asset Management AS will generally receive a higher amount when distributing DNB-products than other external products.

Customers of DNB Private Banking will have access to a range of securities funds and other vehicles for collective investments managed by management companies outside the DNB Group. The selection of which external securities funds and vehicles for collective investments made available to clients is performed by DNB Asset Management AS.

Management Companies with whom DNB Private Banking has entered into a distribution agreement with may be customers of the DNB Group.

DNB Bank ASA is registered in the Norwegian Register of Business Enterprises (NO 984 851 006) and is under supervision of the Financial Supervisory Authority of Norway (Finanstilsynet). Details about the extent of our regulation by local authorities outside Norway are available from us on request.