Disclaimer

IMPORTANT LEGAL INFORMATION

Please read this notice carefully, as by using this website (the “Site”) and the third party websites opening via the links provided on this Site, you will be taken to have agreed to be bound by the terms stated herein. Please note that the legal information presented herein may be altered or updated without notice at any time.

The information provided on this Site is made available by AS LHV Varahaldus (hereinafter: “LHV”), a fund management company registered in Estonia which is authorized and supervised by the Estonian Financial Supervision Authority.

If it is not expressly stated otherwise, all the information on this Site is presented for informative purposes only and in order to introduce the investment principles and goals of SEF-LHV Persian Gulf Fund. Nothing that is stated on the Site constitutes or should be construed as an invitation to acquire fund shares or as an offer of investment advice or any investment services. No one should enter into any contracts or carry out any transactions based solely on the information provided on this Site. The offering of fund shares is based solely on the official fund documents, i.e. key information document and the fund prospect. Every investment is related to certain risks and the value of the investment can go down as well as up. Before making any investment we would advise you to consult with professional tax- and investment advisers.

The information provided on this Site is not intended to be used in those jurisdictions where an offer or solicitation of SEF-LHV Persian Gulf Fund is unlawful. In jurisdictions where SEF-LHV Persian Gulf Fund is available only to professional investors, the information provided on this Site is meant only for the use of those investors who comply with the requirements set for professional investors. Anyone visiting this Site should familiarize themselves with applicable laws and regulations of any jurisdiction affecting or capable of affecting their right to enter this website and make sure, that they have such a right.

The material on this Site is not directed at and is not intended for United States citizens, residents or any other persons present in the United States of America and/or individuals, who are “US persons”, as defined in Regulation S under the Securities Act of 1933. The information contained on this Site is not an offer to provide, or a solicitation of any offer to buy or sell products or services in the United States of America. Without prior written consent of the LHV, it is not permitted to send any securities market surveys, comments, opinions, forecasts or other information published on this Site to United States citizens, residents or any other persons present in the United States of America and/or individuals, who are “US persons”, as defined in Regulation S under the Securities Act of 1933. 3.3. United States citizens, residents or any other persons present in the United States of America and/or individuals, who are “US persons”, as defined in Regulation S under the Securities Act of 1933, are not permitted to access and use this Site.

LHV takes all reasonable steps to ensure that the information provided on this Site is accurate, complete and up-to-date, but does not represent nor warrant it. LHV does not take upon itself to compensate for any damages that might have resulted from using the information provided on this Site, including damages resulting from inaccuracy or incompleteness of the information. This Site may also include forward looking statements which are based on LHV’s current opinions, expectations and projections. LHV undertakes no obligation to update or revise any forward looking statements. Actual results could differ materially from those anticipated in the forward looking statements.

This Site may contain links to third party websites. LHV has provided those links in good faith and for the convenience of the users of this Site. LHV takes all reasonable steps to ensure that the linked websites would not include misleading information, but does not represent nor warrant it. LHV takes no responsibility for the content of those websites nor for the goods and services offered there. The risk of entering those websites lies solely with the website users. Similarly, LHV does not make any representations nor warranties as to the third party advice or statements provided on this Site. Regarding the limitations of any possible third party liability LHV advises to familiarize oneself with the particular disclaimers provided by those third parties themselves. Where practicable, we have provided third party disclaimers also on this Site.

All the information and materials on this Site are protected by copyright and may be used for personal purposes only. None of the information contained on this Site may be published, distributed or amended or otherwise used for any public or commercial purposes without the written consent of LHV.

COOKIE AND DATA EXCHANGE POLICY

This Site may contain cookies. A cookie is a small text file which is stored on the hard disk of the user by the website. When entering this Site, the visitor accepts the following cookie and data protection policy terms.

There are two types of cookies. The first type stores information on the user’s hard disk for a certain period of time. These are used to inform the user of the changes that have occurred on the website since the last visit. The other type of cookies, so-called session cookies, are stored only temporarily for the time the user accesses the website.

LHV uses cookies to improve the quality of the statistical data collected about the users and to enhance the functionality of the Site. In order to use the Site, the user has to accept the use of session cookies. Session cookies enable the user to use the Site without complications and will disappear when the user leaves the Site.

If the user wishes not to accept cookies, the security settings of the browser can be changed. However, it should be noted that in case the user does not accept session cookies, the functionality of the Site might be limited.

LHV does not represent nor warrant that there will be no delays, failures, errors or omissions or loss of transmitted information when using this Site or that no viruses or other contaminating or destructive properties will be transmitted to your computer system which might cause damage. Internet cannot be guaranteed to be completely safe data transmission medium. The users of this Site will have complete responsibility to protect their computer systems against viruses by using appropriate antivirus software or by backing up their data or by using any other suitable means. LHV will not compensate for any damages that might have been caused by any of the aforementioned reasons.

The third party websites that users can enter via links provided on this website have their own cookie and privacy policies. LHV takes no responsibility for ensuring the suitability of the terms of those policies and recommends to read them through before using those third party websites.

MORNINGSTAR DISCLAIMER

2014 Morningstar. All Rights Reserved. The information, data, analyses and opinions (“Information”) contained herein: (1) include the confidential and proprietary information of Morningstar; (2) may not be copied or redistributed; (3) do not constitute investment advice; (4) are provided solely for information purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

CITYWIRE DISCLAIMER

Citywire Fund Manager Ratings and Citywire Rankings are confidential and proprietary to Citywire Financial Publishers Ltd (“Citywire”) and © Citywire2013. All rights reserved. You may only use this material for your personal and non-commercial use. No part of this material may be copied, distributed or adapted in any form or by any means without prior written consent. This includes but is not limited to all individual fund manager data such as rankings of fund managers and ratings of fund managers. Citywire does not accept any liability for your reliance upon, or any errors or omissions in, the Citywire Ratings or Citywire Rankings.