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Foreign Exchange Disclaimer

Important Information- Please Read

Spot Foreign Exchange (FX), is an agreement between two parties to buy one currency against another currency at an agreed price for settlement on the spot date. The exchange rate at which the transaction is done is called the spot exchange rate.

This material has been prepared for information purposes. It does not constitute and under no circumstances should it be considered in whole or in part as an offer, a solicitation, advice or recommendation or a contract. It is intended to be used by the recipient only and may not be passed on or disclosed to other persons and/or in any jurisdiction that would render the distribution illegal.

It is the responsibility of any person in possession of this document to inform himself or herself of and to observe all applicable laws and regulations of the relevant jurisdictions. This document is in no way intended to be distributed in or into the United States of America nor directly or indirectly to any U.S. person.

Financial Promotion

This document is a financial promotion.

Pricing

Because the prices and characteristics of transactions are individually negotiated and there is no central source for obtaining prices from competing dealers, there can be inefficiencies in transaction pricing.  The Kleinwort Hambros Group make no representation or warranty that prices will always be the best prices available to you.  Kleinwort Hambros Group may make a profit from a transaction with you no matter what result the transaction has from your point of view.

Tax, Accounting and Legal

It is important to bear in mind that the Kleinwort Hambros Group does not provide tax advice. The level of taxation depends on individual circumstances and such levels and bases of taxation can change. You should seek professional tax advice in order to understand any applicable tax consequences. In addition, the material is not intended to provide, and should not be relied on for, accounting or legal purposes and independent advice should be sought where appropriate.

 The products and services of the Kleinwort Hambros Group entities have to comply with the Societe Generale Group Tax Code of Conduct.

LEGAL AND REGULATORY INFORMATION

This Document is issued by the following companies in the Kleinwort Hambros Group under the brand name Kleinwort Hambros:

United Kingdom: SG Kleinwort Hambros Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm reference number is 119250. The company is incorporated in England and Wales under number 964058 and its registered address is 5th Floor, 8 St James’s Square, London SW1Y 4JU.

Spox Foreign Exchange is not a regulated activity in the United Kingdom, under the Financial Services and Markets Act 2000.

Channel Islands: SG Kleinwort Hambros Bank (CI) Limited is regulated by the Jersey Financial Services Commission ("JFSC") for banking, investment, money services and fund services business. The company is incorporated in Jersey under number 2693 and its registered address is PO Box 78, SG Hambros House, 18 Esplanade, St Helier, Jersey JE4 8PR.

Spox Foreign Exchange is not a regulated activity in Jersey under The Financial Services (Jersey) Law 1998.

SG Kleinwort Hambros Bank (CI) Limited – Guernsey Branch is also regulated by the Guernsey Financial Services Commission ("GFSC") for banking, investment and money services business. Its address is PO Box 6, Hambro House, St Julian’s Avenue, St Peter Port, Guernsey, GY1 3AE.

Spox Foreign Exchange is not a regulated activity in Guernsey The Financial Services Commission (Bailiwick of Guernsey) Law, 1987

The company (including the branch) is also authorised and regulated by the UK Financial Conduct Authority ("FCA") in respect of UK regulated mortgage business. The firm reference number is 310344. This document has not been authorised or reviewed by the JFSC, GFSC or FCA.

Gibraltar: SG Kleinwort Hambros Bank (Gibraltar) Limited is authorised and regulated by the Gibraltar Financial Services Commission for the conduct of banking, investment and insurance mediation business. The company is incorporated in Gibraltar under number 01294 and its registered address is 32 Line Wall Road, Gibraltar.