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Client Valuations Disclaimers

Disclaimer Relating to Credit Suisse International's Indicative Prices and Indicative NAVs Published on Market Data Networks

Credit Suisse International publishes regular indicative prices ("Indicative Prices") on certain Market Data Networks in relation to the following products (the "Products"): (i) OTC derivative products where Credit Suisse International is a counterparty and (ii) plain vanilla and structured securities issued by Credit Suisse, Credit Suisse International or third party issuers as specified on the relevant Market Data Network page. The relevant page will also specify whether Credit Suisse International's Indicative Prices are indicative bid, mid-market or bid and offer prices. Credit Suisse International's indicative bid prices may be expressed as "indicative clean bid prices" which exclude accrued interest and/or "indicative dirty bid prices" which include accrued interest. In addition, Credit Suisse International publishes regular indicative net asset values ("Indicative NAV s") for various Mutual Fund and Reference Fund units on certain Market Data Networks.

Credit Suisse International's Indicative Prices and Indicative NAV s are provided for information purposes only. Although Credit Suisse International's Indicative Prices and Indicative NAV s have been prepared by Credit Suisse International based upon or by reference to sources, materials and systems that Credit Suisse International believes to be reliable and accurate, Credit Suisse International does not guarantee their completeness or accuracy.

Credit Suisse International's Indicative Prices and Indicative NAV s have been prepared by reference to Credit Suisse International's proprietary models and such other factors as Credit Suisse International deems appropriate and may include indicative bid spreads, where relevant, for cash securities . Because Credit Suisse International's Indicative Prices and Indicative NAV s are provided for information purposes only, they do not constitute an offer, or a solicitation of an offer, to conclude any transaction at the prices noted. In addition, as Credit Suisse International's Indicative Prices and Indicative NAV s are prepared as of a particular date and time, they will not reflect subsequent changes in market values or prices or in any other factors relevant to their determination.

Any potential counterparty or purchaser should not assume that the Indicative Prices and Indicative NAV s of all dealers would be equivalent. Generally speaking Indicative Prices, like actual "dealing prices", will vary from dealer to dealer. Sometimes this variance may be substantial. Credit Suisse International does not warrant that Credit Suisse International's Indicative Prices and Indicative NAV s are or will be representative of the prices/values that may be provided to any potential counterparty or purchaser by other dealers or, in the case of Mutual Fund and Reference Fund units, by the relevant Mutual Fund or Reference Fund. For this reason Credit Suisse International's Indicative Prices and Indicative NAV s do not establish, or constitute advice by Credit Suisse International concerning, a "mark-to-market" value of any relevant Product or Mutual Fund or Reference Fund units, as the case may be.

Credit Suisse International's Indicative Prices and Indicative NAV s may be different from the valuation of the same Product or Mutual Fund or Reference Fund units, as the case may be, that Credit Suisse International may use for its own purposes, including those prepared in the utilisation of its own books and records.

Credit Suisse International's Indicative Prices and Indicative NAV s may be different from the valuation of the same Product or Mutual Fund or Reference Fund units, as the case may be, that Credit Suisse International may use for its own purposes, including those prepared in the utilisation of its own books and records.

Credit Suisse International's Indicative Prices and Indicative NAV s reflect Credit Suisse International's theoretical ( i.e. model) prices and values only and, therefore, do not reflect or take into account other potentially significant factors such as the extent to which it may be in Credit Suisse International's economic interest to reduce or eliminate capital charges or funding requirements or potential market, liquidity, credit, and other risks.

Credit Suisse International may at any time decline to publish Indicative Prices and/or Indicative NAV s on any Market Data Network for any Product or Mutual Fund or Reference Fund units, notwithstanding that it may have previously published Indicative Prices and/or Indicative NAV s for the same or similar Product or Mutual Fund or Reference Fund units, as the case may be. In addition, if there is, at any time prior to the time at which any of Credit Suisse International's Indicative Prices and/or Indicative NAV s are to be published on any Market Data Network, a suspension, unavailability for use, breakdown, failure or damage (however caused) of or to the database or any computer, communications or other service system used by Credit Suisse International to generate Credit Suisse International's Indicative Prices and Indicative NAV s, then Credit Suisse International reserves the right, in its sole discretion, to postpone publishing such Indicative Prices and/or Indicative NAV s until it is reasonably practical to do so, following reinstatement of the database, any computer, communications or other service system used by Credit Suisse International to generate such Indicative Prices and/or Indicative NAV s.

Any potential counterparty or purchaser should discuss with their auditors and any other advisors they deem appropriate whether and if so to what extent Credit Suisse International's Indicative Prices and Indicative NAV s may be useful to them in connection with the preparation of their financial statements or for any other purpose.

In respect of Credit Suisse International's Indicative NAVs only:

Credit Suisse International's Indicative NAV s do not take account of future fees and expenses associated with the relevant Mutual Fund or Reference Fund.

Credit Suisse International makes no representation that the relevant Mutual Fund or Reference Fund will redeem units at the Indicative NAV published on Market Data Networks Credit Suisse International's Indicative NAV is an estimated one and has not been reviewed or approved by the relevant Mutual Fund or Reference Fund, its directors, its administrator or its auditors.

Credit Suisse International's Indicative NAV s are based, in part, upon historical data that has been provided to Credit Suisse International by third parties and which Credit Suisse International may not have verified.

Any potential purchaser of any relevant Mutual Fund or Reference Fund units should refer to the disclosure document prepared in connection with the relevant Mutual Fund or Reference Fund and note in particular the Investment Considerations set out therein, which continue to be relevant.

Credit Suisse International is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.

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