Important information

This presentation serves informational purposes only. The information it contains may neither be duplicated nor made available to third parties without the consent of HQ Trust GmbH. It should not be construed as investment advice, financial analysis or a solicitation to buy or sell securities or as any other recommendation within the meaning of the German Securities Trading Act (Wertpapierhandelsgesetz, WpHG).

Although the information contained herein is based upon sources we consider to be reliable, we make no warranty, either express or implied, as to its accuracy, completeness, currency or quality. The presentation should neither be considered as general investment advice nor be used as the basis for specific investment decisions. Furthermore, the presentation provides neither implicit nor explicit recommendations regarding the way in which client assets should be invested, since the investment strategy must be determined according to the individual client’s investment objectives.

Information on indices in this document is exclusive of management fees and transaction costs. Direct investments in the indices are not possible. Data on market indices, composite indices, benchmarks or other measures of relative performance over a certain period (benchmark) is provided for informational purposes only and does not imply that the portfolio is comparable with the benchmark in terms of return, volatility or other results. The composition of the benchmark does not necessarily correspond to the structure of the portfolio in terms of factors such as expected and actual returns, investment policy, investment restrictions, sectors, correlations, concentration, volatility or tracking error targets, which may all change over time.

Data on market indices, composite indices, benchmarks or other measures of relative performance over a certain period (benchmark) is provided for informational purposes only. HQ Trust assumes no liability for client assets performing in line with, exceeding or falling below the benchmark. The past performance of an index, a benchmark or other reference is no reliable indication of future performance.

Simulated, model-based or hypothetical performance has inherent limitations. Simulated results are hypothetical and do not represent the current market situation. Significant economic and market factors (e.g. liquidity restraints) which affect current decision-making may thus not be taken into account. The simulated results were calculated using a model based on data available ex post, among other things. The results shown include the reinvestment of dividends and other income, but exclude costs that would have been borne by the client and which would have therefore reduced income. The presentation does not give any indication that the client will achieve results in line with or similar to those shown. Simulations and forecasts are not reliable indicators of future performance.

Furthermore, the material should not be construed as an offer or solicitation of an offer to persons subject to jurisdictions which prohibit such offers or solicitations, nor to persons to whom such an offer or solicitation of an offer may not be made. Persons or groups of persons in possession of this document must do their own research regarding the applicable laws and provisions of the relevant jurisdictions.

HQ Trust does not offer its clients tax or legal advisory services. All investors are strongly advised to consult their tax or legal advisor about potential investments. Tax, legal and regulatory treatments depend on personal circumstances and may be subject to changes.

The opinions expressed herein represent our prevailing views at the time of delivery of the presentation only, which are subject to change at any time without prior notice and may not be in agreement with opinions expressed at a later date.

Certain logos, trade names, trademarks and copyrights included in the presentation are strictly for identification and informational purposes only. Such logos, trade names, trademarks and copyrights may be owned by companies or persons not affiliated with HQ Trust GmbH and no claim is made that any such company or person has sponsored or endorsed the use of such logos, trade names, trademarks and copyrights in the presentation.

Certain transactions, in particular those involving futures, options and high-yield bonds, as well as investments in emerging markets, may have the effect of substantially increasing risk profiles and may therefore not be suitable for all investors. Investments in foreign currencies are subject to currency risks, and in the event of price fluctuations, may have a negative effect on the value, the price or the income generated with these investments. If foreign currency exchange controls or statutory provisions or restrictions are introduced in relation to such investments, there may be consequences.

Investments that are mentioned in this presentation are not necessarily available in all countries, may be illiquid or not suitable for all investors. Investors should carefully examine whether an investment suits their specific situation and seek the advice of HQ Trust in this regard. The price and the value of investments referred to in this presentation may rise or fall. Investors should be aware that they may not recover the capital they originally invested.

Historical performance is not indicative of future performance. Future income is not guaranteed and a loss of the invested capital cannot be ruled out.

The competent supervisory authority for HQ Trust is the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht).

Mutual Trust – Disclaimer related to Australia

Prepared in Australia by Mutual Trust Pty Ltd (ACN 004 285 330) (AFSL 234590). It is general information only and has been prepared without considering any particular persons’ objectives, financial situation or needs. It does not constitute, and should not be relied upon as personal financial product, taxation or legal advice. Before making any investment decision you should read the relevant product disclosure statement or other disclosure document and obtain personal financial, taxation and legal advice.

For more information about the financial services Mutual Trust provides, please contact us or visit our website, www.mutualtrust.com.au for a copy of our Financial Services Guide.

Pitcairn – Disclaimer related to the United States

Pitcairn Wealth Advisors LLC (“PWA”) is a registered investment adviser with its principal place of business in the Commonwealth of Pennsylvania. Registration does not imply a certain level of skill or training. Additional information about PWA, including our registration status, fees, and services is available on the SEC’s website at www.adviserinfo.sec.gov.

This material was prepared solely for informational, illustrative, and convenience purposes only and all users should be guided accordingly. All information, opinions, and estimates contained herein are given as of the date hereof and are subject to change without notice. PWA and its affiliates (jointly referred to as “Pitcairn”) do not make any representations as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether referenced or incorporated herein, and take no responsibility thereof.

As Pitcairn does not provide legal services, all users are advised to seek the advice of independent legal and tax counsel prior to relying upon or acting upon any information contained herein.

The performance numbers displayed to the user may have been adversely or favorably impacted by events and economic conditions that will not prevail in the future. Past investment performance is not indicative of future results.

The indices discussed are unmanaged and do not incur management fees, transaction costs, or other expenses associated with investable products. It is not possible to invest directly in an index. Projections are based on models that assume normally distributed outcomes which may not reflect actual experience.

Consistent with its obligation to obtain “best execution,” Pitcairn, in exercising its investment discretion over advisory or fiduciary assets in client accounts, may allocate orders for the purchase, sale, or exchange of securities for the account to such brokers and dealers for execution on such markets, at such prices, and at such commission rates as, in the good faith judgment of Pitcairn, will be in the best interest of the account, taking into consideration in the selection of such broker and dealer not only the available prices and rates of brokerage commissions, but also other relevant factors (such as, without limitation, execution capabilities, products, research or services provided by such brokers or dealers which are expected to provide lawful and appropriate assistance to Pitcairn in the performance of its investment decision-making responsibilities).

This material should not be regarded as a complete analysis of the subjects discussed. This material is provided for information purposes only and is not an offer to sell or the solicitation of an offer to purchase an interest or any other security or financial instrument.

Promecap – Disclaimer related to Mexico

This document is intended for distribution by Promecap Asesores Patrimoniales, S.A. de C.V. and/or any of its affiliates (hereinafter “Promecap”) and should be interpreted as standalone information. The partial or total use of this document for decision-making by any third party is the responsibility of that third party. Promecap accepts no responsibility for any potential damages that any third party may suffer as a result of any decision made or not made, or any action taken or not taken as a result of the use of this document.

This document is not presented in connection with a public or private offering of securities or a solicitation for financing, nor should it be interpreted as such. Promecap is not making or in any way promoting a public or private offering of securities or obtaining any financing.

This document contains certain statements related to the general information gathered by Promecap. The information included in this presentation is a summary of information and is not intended to cover all the information related to the topics addressed in it. The statements contained herein reflect Promecap’s current view regarding future events and are subject to certain risks, uncertain events, and assumptions, which may or may not materialize.

The inclusion in this document of projections, estimates, or any investment instrument does not represent any guarantee of performance. The final results may have significant deviations.

The information, estimates, and general data included in this document should be considered only as indicative data or as simulators of past performances for illustrative purposes only and are subject to modifications and changes without prior notice, and Promecap does not commit to communicate such changes or to update the content of this document.

The information contained in this document has been obtained from sources considered reliable, but does not guarantee its accuracy, completeness, or precision.

This document may not be distributed, copied, transmitted, or in any other way delivered to any person other than the recipient without the written consent of Promecap. Any clarification regarding the content or use of this presentation should be directed to atencionservpromecap@promecap.com.mx.

Turim – Disclaimer related to Brazil

Our opinions are often based on a number of sources as we extract our global analysis views from various banks, managers, brokers, and independent advisors. All the opinions contained in this report represent our judgment to date and may change without notice at any time.

This material is for informative purposes only and should not be considered as an offer to sell our services.