Investment Banking

Disclaimers and Disclosures

This document provides additional disclosures and disclaimers relevant to research reports, discussion material and other investment recommendations or investor information issued by Clarksons Securities AS.

Clarksons Securities AS’ Standards and supervision

Clarksons Securities AS is a private limited liability company incorporated in Norway ( 942 274 238), authorised to provide banking and investment services in accordance with and pursuant to the Norwegian Securities Trading Act of 2007 (as amended). Clarksons Securities AS’ ultimate parent is Clarkson PLC, a Public Limited Company registered in England and Wales, domiciled in the UK and listed on the London Stock Exchange with ticker CKN:L. Clarkson PLC is principally an investment holding company, whose subsidiaries are primarily involved in providing shipping related services.. Clarksons Securities AS is under the supervision of the Norwegian Financial Supervisory Authority (Nw.: “Finanstilsynet”) and is a member of the Norwegian Securities Dealers Association (Nw.: Verdipapirforetakenes Forbund). Internal rules have been developed in accordance with recommendations issued by the association.