SEMINAR TERMS AND CONDITIONS:

Nothing in the Seminar, the presentation during the Seminar and any information or document contained or referred to in the Seminar and/or the presentation or distributed or published during or in connection with the Seminar and/or the presentation (collectively, the "Seminar Materials") should be considered as investment or financial advice or any form of recommendation to purchase or sell the products described in the Seminar Materials. Information in the Seminar Materials is intended as general information only and does not take into account the specific investment objectives, financial situation and the particular needs of any particular recipient. You should consult your own legal, financial, tax and professional advisers with regard to your specific concerns, issues and situation, and prospective investors should seek advice from their own financial advisers regarding the suitability and risks of the products before committing to any investment.

The Seminar Materials do not constitute a prospectus or constitute or form an (or any part of an) offer, or invitation, to subscribe for or to sell, or solicitation of any offer to subscribe for or to purchase, warrants or other securities, nor are they calculated to invite, nor do they permit the making of, offers by the public to subscribe for or purchase for cash or other consideration warrants or other securities. Neither the Seminar Materials nor their contents shall be construed as an advertisement, inducement or representation of any kind or form whatsoever. The information in the Seminar Materials is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Persons into whose possession any information contained in the Seminar Materials comes should inform themselves about, and observe and comply with, any such restrictions at their own cost and expense and without liability to the BNP Group (as defined below).

The information contained in the Seminar Materials has been obtained from public sources believed to be reliable (without verification) and all statements made in the Seminar Materials are based on such information and are expressions of belief only ("Statements"). No representation or warranty, express or implied, is made that such information or Statements are accurate, complete or verified or as to the fitness of any such Statements for any purpose, and it should not be relied upon as such. Information and Statements contained in the Seminar Materials are published for reference only and shall not be relied upon as authoritative or without the recipient's own independent verification or in substitution for the exercise of judgment by any recipient. The Statements are subject to change and the BNP Group will not be responsible for any consequences arising from such change and the BNP Group is not obliged to inform you of any such change.

None of the members of the BNP Paribas Group and/or its associated and connected persons and/or affiliates, their directors, officers and/or employees (including persons involved in the preparation or issuance of the Seminar Materials) (collectively, the "BNP Group") makes any express or implied warranty of any kind regarding the information in the Seminar Materials. The BNP Group does not accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of the Seminar Materials or their contents or otherwise arising in connection therewith. Without prejudice to the generality of the foregoing, none of the members of the BNP Group will be liable to anyone for any inaccuracy, error or omission, regardless of cause, in the information in the Seminar Materials or for any kind of damages arising in connection therewith.

You are warned that the price of warrants may fall in value as rapidly as it may rise and holders may sustain a total loss of their investment. It is not possible to predict whether the secondary market for warrants will be liquid or illiquid. Any opinions, forecasts or estimates in the Seminar Materials constitute a judgment as of the date the information is published, and there can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates. You are cautioned that actual results may differ materially from those set forth in any forward-looking statements. Past performance is also not indicative of future results.

The Seminar Materials shall not, in whole or in part, be reproduced, distributed or transmitted to any other person or incorporated into or quoted or referred to in any way in any other document or material. The use of any trademarks and logos displayed in the Seminar Materials is strictly prohibited unless written permission for such use is obtained from the BNP Group and/or, where relevant, such third party, which may own the trademarks and logos.