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DISCLAIMER

Breezy Briefings’ publications contain information, opinions and data that Breezy Briefings considers to be accurate or based on the date of their creation, based on the economic, commercial financial or market context at the time. It does not constitute either a personalized investment recommendation or a general investment recommendation. The information provided comes from the best sources, however Breezy Briefings cannot be held responsible for any errors or omissions that may emerge. Readers and recipients are requested to consult with a professional legal, tax, accounting, investment advisors before making any material decisions. This publication does not constitute an offer to sell or investment advice and does not engage the responsibility of Breezy Briefings.

FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL ADVICE. NOT FINANCIAL ADVICE. NOT TAX ADVICE. NOT MEDICAL OR HEALTH ADVICE. NOT PROFESSIONAL ADVICE. NO PROFESSIONAL-CLIENT RELATIONSHIP. NO GUARANTEES. NO ENDORSEMENTS. NO WARRANTIES.


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IMPORTANT DISCLOSURES

Information contained herein is only current as of its creation date and is intended only to provide the observations and views of the contributors of Breezy Briefings as of the date of writing unless otherwise indicated. Breezy Briefings has no obligation to provide recipients hereof with updates or changes to the information contained herein. Performance and markets may be higher or lower than what is shown herein and the information, assumptions and analysis that may be time sensitive in nature may have changed materially and may no longer represent the views of Breezy Briefings. Statements containing forward-looking views or expectations (or comparable language) are subject to a number of risks and uncertainties and are informational in nature. Actual performance could, and may have, differed materially from the information presented herein. Past performance is not indicative of future results.

Breezy Briefings’ contributors’ research utilizes data and information from public, private and internal sources, including data from actual contributor trades and investments. While Breezy Briefings considers information from external sources to be reliable, we do not assume responsibility for its accuracy.

The views expressed herein are solely those of the contributors of Breezy Briefings and are subject to change without notice. You should assume that Breezy Briefings’ contributors as well as others have significant financial interests in one or more of the positions and/or securities or derivatives discussed. Breezy Briefings’ contributors as well as others may have long or short positions in and buy or sell securities or derivatives referred to herein. Those responsible for preparing this publication receive compensation based upon various factors, including, among other things, the quality of their work and firm revenues.

This publication is for informational and educational purposes only and is not an offer to sell or the solicitation of an offer to buy the securities or other instruments mentioned. Any such offering will be made pursuant to a definitive offering memorandum. This material does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual investors which are necessary considerations before making any investment decision. Investors should consider whether any advice or recommendation in this research is suitable for their particular circumstances and, where appropriate, seek professional advice, including legal, tax, accounting, investment or other advice.

The information provided herein is not intended to provide a sufficient basis on which to make an investment decision and investment decisions should not be based on simulated, hypothetical or illustrative information that have inherent limitations. Unlike an actual performance record, simulated or hypothetical results do not represent actual trading or the actual costs of management and may have under or over-compensated for the impact of certain market risk factors. Breezy Briefings makes no representation that any account will or is likely to achieve returns similar to those shown. The price and value of the investments referred to in this research and the income therefrom may fluctuate.

Every investment involves risk and in volatile or uncertain market conditions, significant variations in the value or return on that investment may occur. Investments are complex, speculative and carry a high degree of risk, including the risk of a complete loss of an investor’s entire investment. Past performance is not a guide to future performance, future returns are not guaranteed, and a complete loss of original capital may occur. Certain transactions, including those involving leverage, futures, options, and other derivatives, give rise to substantial risk and are not suitable for all investors. Fluctuations in exchange rates could have material adverse effects on the value or price of, or income derived from, certain investments.

This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Breezy Briefings to any registration or licensing requirements within such jurisdiction.

No part of this publication may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Breezy Briefings.


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