This e-mail and any attachments (together “this e-mail”) may contain confidential and proprietary information and are for general information purposes only and have not been independently verified. It should not be construed as advice or an offer, or a solicitation of an offer, to buy or sell any securities or related financial instruments.

This e-mail is intended for the addressee only and should only be used by the addressee for the related purpose. If you are not the intended recipient of this e-mail, you are requested to delete it immediately. Any disclosure, copying, distribution of or any action taken or omitted in reliance on this information is prohibited and may be unlawful.

The views expressed in this e-mail are, unless otherwise stated, those of the sender and not those of the Investec Group of Companies or its management.

E-mails cannot be guaranteed to be secure or free of errors or viruses. No liability or responsibility is accepted for any interception, corruption, destruction, loss, late arrival or incompleteness of or tampering or interfering with any of the information contained in this e-mail or for its incorrect delivery or non-delivery or for its effect on any electronic device of the recipient.

Investec Bank (Channel Islands) Limited is a wholly owned subsidiary of Investec Bank plc. This document is distributed by Investec Bank (Channel Islands) Limited which is licensed in Guernsey by the Guernsey Financial Services Commission under the Banking Supervision (Bailiwick of Guernsey) Law, 2020, as amended, and the Protection of Investors (Bailiwick of Guernsey) Law, 2020, as amended, to carry on banking and investment business. Registered Address: Glategny Court, Glategny Esplanade, St Peter Port, Guernsey, GY1 1WR. Registered Number: 5845. The Jersey Branch of Investec Bank (Channel Islands) Limited is regulated by the Jersey Financial Services Commission to carry on deposit taking business under the Banking Business (Jersey) Law, 1991, as amended. The Jersey Branch address is 4th Floor, Liberation House, Castle Street, St Helier, Jersey, JE2 3BT. The Isle of Man Representative Office of Investec Bank (Channel Islands) Limited is regulated by the Isle of Man Financial Services Authority and its place of business address is Second Floor, The Old Courthouse, Athol Street, Douglas, Isle of Man, IM1 1LD.

IBCI is a participant in both the Guernsey and Jersey Banking Deposit Compensation Schemes. These Schemes offer protection for “qualifying deposits/eligible deposits” up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details are available on request or alternatively on the Guernsey Scheme’s website or on the Jersey States website which will also highlight the banking groups covered. Deposits made with the Bank, whether in Guernsey or Jersey, are not covered by the Financial Services Compensation Scheme under the Financial Services & Markets Act 2000 of the UK.

Copies of IBCI’s audited accounts are available on request. Telephone calls are recorded.