The figures shown in brackets are in your favour.

The figures shown without brackets are in favour of Credit Suisse AG, including any of its affiliates.

You have requested that Credit Suisse AG and/or any of its affiliates (together, "CS") provide you from time to time with customer statements showing indicative valuations in respect of certain financial instruments within your investment portfolio for valuation purposes (each an "Indicative Valuation"). This Indicative Valuation is provided as an accommodation and not pursuant to any applicable regulations, such as Title VII of the Dodd Frank Wall Street Reform and Consumer Protection Act or European Market Infrastructure Regulation (EMIR).

In consideration of CS providing you with such Indicative Valuations, you hereby agree to the following terms and conditions:

1. CS's Indicative Valuations are provided for information purposes only, as an accommodation and without charge. They are indicative only and do not constitute a bid or offer, or a solicitation of a bid or offer, to initiate or conclude any transaction at the value stated and any actual bid or offer price or price of any transactions concluded by you may differ substantially from the Indicative Valuation shown in this statement. In addition, as CS's Indicative Valuations are prepared as of a particular date and time, they will not reflect subsequent changes in the market or changes in any other factors relevant to their determination.
2. In calculating certain Indicative Valuations, CS may use simplified models that may not reflect or take into account all potentially significant factors such as market risk, liquidity risk, credit risk and early unwind costs and fees including with respect to funding costs (where applicable). CS may use different models, make valuation adjustments, or use different methodologies when determining prices at which CS is willing to trade these financial instruments and/or when valuing its own inventory positions for its books and records. CS may use different methodologies across its different teams to calculate Indicative Valuations. If there is no established trading market for this investment product, our price may be based on the market value of other comparable investments or such other factors as we may in our discretion determine to be appropriate. Accordingly, Indicative Valuations may not reflect the price at which CS has traded, or was willing to trade and may differ from values used in CS's internal books and records.
     
   Please be aware that the financial industry’s transition away from LIBOR interest rate benchmarks may have an impact on these valuations, as the inputs that Credit Suisse uses to calculate valuations may change. 
3. Indicative Valuations, like actual bid or offer prices, may vary significantly from dealer to dealer. The assumptions and parameters used are not the only ones that might reasonably have been selected and a variety of other or additional assumptions or parameters, or other market factors and other considerations, could result in different contemporaneous good faith Indicative Valuations. CS does not represent or warrant that CS's Indicative Valuations are or will be representative of the valuations that may be provided to you by other dealers.
4. The provision by CS of Indicative Valuations for a product is not intended to imply that a secondary market for that product exists or, in particular, of any secondary market or redemption price for that product. For reasons including those mentioned above and below, any secondary market or redemption price may differ significantly from the Indicative Valuations.
5. Although the Indicative Valuations provided in this statement have been prepared by CS in good faith, CS does not guarantee their completeness or accuracy, make any representation or warranty with regard to them or assume responsibility for losses or damages arising out of your use of the Indicative Valuations nor any subsequent corrections or amendments to such Indicative Valuations. 
6. You acknowledge that CS has not advised you as to the appropriateness of any particular use of the Indicative Valuations, including in connection with internal financial accounting determinations or in satisfaction of reporting obligations. You should consult with your auditors and other advisors you deem appropriate as to whether CS's Indicative Valuations may be useful to you in connection with the preparation of your financial statements (and, in particular, whether and to what extent these Indicative Valuations may be treated as being indicative of prices at which trades could be executed) or for any other purpose.
7. CS may, in its sole and absolute discretion, at any time decline to provide Indicative Valuations to you on any product, notwithstanding that it may have previously provided an Indicative Valuation to you for the same or similar product or retrospectively revise Indicative Valuations already provided to you.
8. CS is acting solely as an arm’s length contractual counterparty and not as a financial adviser (or in any other advisory capacity including tax, legal, accounting or otherwise) or in a fiduciary capacity. You should consult with such advisers (including, without limitation, tax advisers, legal advisers and accountants) as you deem necessary.
9. CS shall have no liability to you, your affiliates or any third parties with respect to any Indicative Valuations. CS has no obligation to update any Indicative Valuations nor to correct any error in any Indicative Valuations.
10. The information provided in this statement has been provided specifically for your use only and you should treat it as proprietary and confidential information. This statement may not be redistributed to any third party without CS' prior written consent.

This statement is sent via electronic means and CS will not be held responsible for any corruption or alteration of the data during transmission to the recipient.

This Indicative Valuation statement supersedes any similar information you may have received orally or in other written or electronic format from CS.

Credit Suisse Securities (Europe) Limited and Credit Suisse International are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Credit Suisse AG London Branch which is authorised and regulated by FINMA in Switzerland, authorised by the Prudential Regulation Authority in the UK, and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority in the UK. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.

Credit Suisse Securities (USA) LLC (“CSSU”) is: a U.S. broker-dealer registered with the SEC, a member of FINRA, and regulated by FINRA and the SEC.

Copyright © 2019 CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.