General Advice Warning

Being general advice, this email does not take account your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision. You should obtain, read and understand our Financial Services Guide on the website pulsemarkets.com.au, and relevant products disclosure statements or offer documents before investing in any financial product.

Disclosure of Interest

The Directors, officers and employees of Pulse Markets Pty Ltd advise that they and or their associates may have beneficial interests in the financial products mentioned on our website, social media channels and in our emails. Further they may buy or sell securities of the companies mentioned and may effect transactions that are not consistent with any statements on our website, social media channels and in our emails.

Risk Warning

Investing in financial products involves investment risk, and trading in high risk products (particularly options, futures, commodities, bonds and contracts for difference) is speculative and comes with significant risk. Losses may exceed your initial investment and may be unlimited. We recommend you seek independent advice. Recipients should understand that statements regarding future returns may not be realised. Past performance is not a reliable indication of future performance.

Forward Looking Statements

This website, our social media channels and emails contains reference to certain intentions, expectations, estimates, future plans, strategy and prospects. Those intentions, expectations, estimates, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and maybe affected by known and unknown risks. The performance and operations may be influenced by a number of factors, many of which are outside the control of Pulse Markets. No representation or warranty, express or implied, is made by Pulse Markets or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. There are risks and uncertainties that may cause the actual future results, performance or achievements to be materially different from those expected, planned or intended. Recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects.

Past Performance

Recipients should note that past performance cannot be relied upon as an indicator of (and provides no guidance as to) future performance. The historical information in this report is, or is based upon, information that has been released to the market. For further information, please see past announcements released to ASX or Chi-X.

Hypothetical Performance

Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

Unlisted Securities Risk Warning

Some securities can be very illiquid. Where securities are unlisted it may be more difficult to deal in them or to obtain reliable information about their value (and it may therefore be difficult to establish a proper market in them for the purposes of making a subsequent sale). An investment in shares of an unlisted and unquoted company, i.e. issuer, is speculative and involves a degree of risk. It may also be difficult for an investor to sell or realise their investment. Smaller, unlisted companies with a short track record, are by their nature tend to be higher risk than large well-established companies. Unlisted companies are not subject to listing rules and continuing disclosure rules that apply to listed securities. The investments and services mentioned in this publication may not be suitable for all investors.

Disclosure Requirements – s708 Sophisticated and Experienced Investors

The information contained on this website, our social media channels and email communications is intended for wholesale client and recipients who meet the sophisticated and/or experienced requirements of section 708 of the Corporations Act. This report is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or under any other law. It is intended for information purposes only and is not an invitation nor an offer of securities for subscription, purchase or sale in any jurisdiction. The offer of securities referred to in this report needs to comply (in respect of the entitlement offer) with the requirements of section 708 of the Corporations Act. Sophisticated investors should read and ensure they understand our Financial Service Guide available on the website www.pulsemarkets.com.au. Any decision to purchase securities must be made on the basis of a separate offer document to be prepared and issued to eligible investors. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

Research Disclaimer

Any Investment Research provided has been prepared for the general use of the wholesale clients of Pulse Markets Pty Ltd and must not be copied, either in whole or in part, or distributed to any other person. If you are not the intended recipient you must not use or disclose the information in this research in any way. Nothing in this research shall be construed as a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction. In preparing this research, we did not take into account the investment objectives, financial situation and particular needs of the reader. Before making an investment decision on the basis of this research, the reader needs to consider, with or without the assistance of an adviser, whether the advice is appropriate in light of their particular investment needs, objectives and financial circumstances. There are risks involved in securities trading. The price of securities can and does fluctuate, and an individual security may even become valueless. International investors are reminded of the additional risks inherent in international investments, such as currency fluctuations and international stock market or economic conditions, which may adversely affect the value of the investment. This research is based on information obtained from sources believed to be reliable but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. No member of Pulse Markets Pty Ltd accepts any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this research and/or further communication in relation to this research.

Analyst Certification

Views expressed in Pulse Markets Pty Ltd’s Investment Research Reports accurately reflect the personal views of the analyst(s) about the subject securities or issuers and no part of the compensation of the analyst(s) was, is, or will be directly or indirectly related to the inclusion of specific recommendations or views in this research. The analyst principally responsible for the preparation of this research receives compensation based on overall revenues, including corporate advisory revenues, of Pulse Markets Pty Ltd and has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations.

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