DISCLAIMER

The website of EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA (the "website") is available on the terms and conditions described below. By starting to use the website you consent to the following terms and conditions.

Information

The information and data on the website are available only for advertising and information purposes. However, this shall not apply to information or documents included on the website which must be published on the website under the provisions of law or the articles of association of investment funds.

The information and data contained on the website are not and cannot be considered a proposal within the meaning of the Polish Civil Code of April 23, 1964 (Journal of Laws No. 16, item 93, as amended) or as financial or investment consultancy services or the provision of recommendations concerning financial instruments or their issuers within the meaning of the Trading in Financial Instruments Act of July 29, 2005 (Journal of Laws of 2005, No. 183, item 1538); nor they are a form of providing legal assistance.

The content of the website was prepared on the basis of own studies prepared in accordance with the best knowledge of EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA and with the use of the information and data obtained from sources assessed as reliable. If the content of the material does not state otherwise, the data come from EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA's own calculations.

In no way shall EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA guarantee or be liable for the authenticity, reliability and completeness or for the validity of the data and information included on the website. Anyone who uses the data contained on the website acts at their own risk. EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA shall not be liable for any damage resulting from the use of materials, information or data contained on the website. However, this shall not apply to information or documents included on the website which must be published on the website under the provisions of law or articles of association of investment funds.


Investment funds

The investment funds referred to on the website have been created and operate on the basis of the Act on investment funds and management of alternative investment funds of May 27, 2004 (Journal of Laws of 2004, No. 146, item 1546, as amended) and their articles of association.

Investment funds do not guarantee the achievement of an assumed investment objective, or a specific investment performance or an investment performance that is similar to the one achieved so far. The information presented on this website concerning the performance of investment funds is only historical. Investing in investment certificates or participation units entails risks, and investment fund shareholders should take into account the possibility of losing at least part of the funds invested. Description of risk factors related to the acquisition of investment certificates or participation units in a given investment fund is included in the information prospectus, issue prospectus, information memorandum or in the terms and conditions of issue, respectively. These documents are available on the EQUES www.eitfi.pl website, in its registered office and in its branch in Warsaw, or in the points of sale and repurchase of participation units, respectively.

Prior to making an investment decision, those interested in purchasing investment certificates or participation units should read the relevant document mentioned above thoroughly, in particular as regards the risk factors, the amount and method of charging handling fees, costs charged to the investment funds and tax liabilities related to the investment. It should also be emphasized that information concerning tax liabilities related to the investment that is included in the aforementioned documents is general and, due to the fact that tax liabilities are contingent on an Investor's individual situation and the location of the investment, in order to determine tax liabilities it is advisable to consult a tax or legal advisor.


Risks related to the use of the website

Communication by electronic means is exposed to interference of third parties. EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA continuously undertakes activities to improve the safety of communication with the website and with the use of the website; however, due to the nature of electronic systems operation it is not possible to eliminate the risk of interference of third parties or of infecting the IT system of the website user with a computer virus.

For technical reasons, access to the website may be temporarily suspended without prior notice. EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA does not have any influence on the operation or availability of the Internet.

The website may include links to other websites which are not the property of EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA. In such case, EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA shall not be held liable for the content or availability of these websites.

In no event shall EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA be liable for damage arising in connection with the use of the website, regardless of whether it results from the risk described above or not.


Copyrights

The content of the website is copyright-protected on the basis of the Act on copyright and related rights of February 4, 1994 (consolidated text Journal of Laws of 2000, No. 80, item 904, as amended).

EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA is the exclusive owner of the website and has all copyrights to the graphics and content of the website. Distributing and publishing the graphics and content included in the website without the consent of EQUES Investment Towarzystwo Funduszy Inwestycyjnych SA is prohibited. The content and layout of the website may change without notice. However, this shall not apply to information or documents included on the website which must be published on the website under the provisions of law or articles of association of investment funds.

Any additional information is provided on individual request. Binding information and documents which must be published on the website under the provisions of law or articles of association of investment funds can be found in the Polish version of the website.

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