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1 The Hongkong and Shanghai Banking Corporation Limited *Quick Facts of Securities Services Service Features Types of Services Offered Statement / Contract Note Key Terms Securities Trading Service We may act on your trading Instructions, including your Instructions to purchase, subscribe, sell, redeem, transfer, convert, switch, exchange or dispose of securities; and to deliver documents of title or any other instruments relating to securities. Custodian Service We may hold or arrange for securities to be held in safe custody. We may deposit and withdraw securities in accordance with your Instructions. We will provide you with statements at least on a monthly basis if there is any transaction or holdings during the statement period, and contract notes in accordance with the Applicable Regulations when there is a transaction. For More Information Securities Account Terms and Conditions Clauses 3 and 4 Securities Account Terms and Conditions Clause 6 For More Information Instructions If you wish to use any Services, you have to give us Instruction. We will act on an Instruction as soon as reasonably practicable after we receive it but we also have the right to delay acting or not to act on an Instruction without prior notice. Securities Account Terms and Conditions Clauses 7, 8, 9 and 10 Limitations on Liability and Indemnity We are not your trustee or investment adviser. We are not liable for the management or performance of your assets. We are not liable for any loss, damage or expense which you or any other person suffer in connection with the Services unless it is caused by our negligence or willful default. We are not responsible to you or any other person for any loss of profit or interest, indirect or consequential loss arising from our providing, or failure or delay in providing, the Services. Securities Account Terms and Conditions Clause 11 Customer's Obligations You should examine each report or statement provided by us to check its accuracy. You confirm that you are not resident in a country where there is any restriction on you relating to purchase of any securities. You understand and accept the risk disclosure statements. You confirm that you act as principal when using any of the Services. Fees and Expenses You are required to pay fees and expenses for our Services according to the bank tariff guide. We will debit any fees and expenses payable by you from any of your accounts. If such debit causes the relevant account to be overdrawn, you are liable to repay the outstanding amount to us on demand together with any interest and fees accruing on the outstanding amount at such rate as we may specify. Termination of Services We may cease to provide the Services by giving not less than 30 days' notice in writing to you. You may terminate the Services by giving not less than 30 days' notice in writing to us. If any Event of Default occurs, we have the right to suspend or terminate all or any part of the Services, the Securities Account and the Cash Account with immediate effect. Securities Account Terms and Conditions Clauses 6.1 and 12 Securities Account Terms and Conditions Clause 13 Securities Account Terms and Conditions Clause 16 * Full Securities Account Terms and Conditions apply to the Securities Services. This table contains a summary of the key product terms and it is for reference only. It is not intended to replace the full Securities Account Terms and Conditions. The Securities Account Terms and Conditions will prevail in the event of any inconsistency. Page 1/10

2 The Hongkong and Shanghai Banking Corporation Limited 1. Definitions and Interpretation (a) Our provision and your use of the Services are subject to these Terms and Conditions and the General Terms and Conditions. These Terms and Conditions prevail to the extent of any inconsistency between these Terms and Conditions and the General Terms and Conditions. (b) Terms used in this document are defined in Appendix 1. The rules for interpreting the provisions of this document are also set out in Appendix Available Services and Our Authority 2.1 Services We may offer Services with such features and on such terms and conditions as we may specify. We have the right to do the following (or any of them) from time to time without prior notice: (a) introduce new Services or features; (b) vary, suspend or withdraw any existing Services or features; and (c) specify or vary the scope and extent of the Services or features. 2.2 Our authority By requesting us to provide any Services, you authorise us as follows: (a) to open and maintain the Securities Account and the Cash Account; and (b) to conduct transactions and activities for you from time to time in accordance with these Terms and Conditions. You may cease using the Services and revoke this authority at any time in accordance with Clause Investment Services 3.1 Scope of Investment Services In relation to the purchase and/or sale of any product: (a) we may solicit the sale of or recommend a product to you in accordance with Clause 3.2.1(a) or (c); and/or (b) you may enter into the transaction without or inconsistent with any solicitation or recommendation from us in accordance with Clause 3.2.1(d) We do not provide advisory services and therefore do not assume any advisory duty of care or obligation in the solicitation of the sale or recommendation of any product other than to ensure reasonable suitability as set out in Clauses 3.2.1(a) and (c) Making available to you any advertisements, marketing or promotional materials, market information or other information relating to a product or service shall not, by itself, constitute solicitation of the sale or recommendation of any product or service Unless otherwise specified in these Terms and Conditions or in other terms and conditions in relation to any product: (a) we do not advise on personalised asset allocation, investment portfolio and investment strategy; and (b) we do not have any obligation to make available any service or provide advice in relation to the purchase or sale of products which we do not distribute or offer to our customers. 3.2 Transactions entered into with us to buy or sell products (a) If we solicit the sale of or recommend any Financial Product to you, the Financial Product must be reasonably suitable for you having regard to your financial situation, investment experience and investment objectives ("Customer Financial Information"). (b) No other provision of these Terms and Conditions or any other document we may ask you to sign and no statement we may ask you to make derogates from Clause 3.2.1(a). (c) If we solicit the sale of or recommend any investment product not being a Financial Product (other than insurance product) to you, we will also ensure that the product is reasonably suitable for you based on our suitability assessment. In our assessment, we will take into account your financial situation, investment experience and/or investment objectives, if it is required by applicable regulatory requirements. (d) If you enter into a transaction with us to buy and/or sell a product without or inconsistent with any solicitation or recommendation from us, we will not have any obligation or duty to assess whether or ensure that the product is suitable for you. You acknowledge and agree that it is your sole responsibility to assess and to satisfy yourself that the transaction is appropriate for you. (e) Except as set out in Clause 11.5, we are not liable for any loss (including indirect or consequential loss), cost or damage of any kind incurred or suffered by you or any other person with respect to or arising out of any transactions which fall under Clause 3.2.1(d) By entering into a transaction with us to buy or sell a product, you confirm that any information you provide to us (including the Customer Financial Information) is complete, accurate and up-to-date. When we assess suitability, we will rely on your confirmation Before you enter into a transaction with us to buy and/or sell a product, you should: (a) consider your own circumstances and understand the product features, terms and risks, and you should contact us if you have any questions on the product; (b) note that we have no ongoing responsibility to ensure that a product we have solicited the sale of or recommended to you remains suitable for you; (c) note that if circumstances relating to you, such product, such product's issuer or general market conditions change, such product may no longer be suitable for you; and (d) note that we do not provide legal, tax or accounting advice on your investments, and you should therefore consider obtaining independent professional advice (including legal, tax and accounting advice) about your investments where necessary This Clause 3.2 takes effect on 8 June 2017 ("Effective Date"), and applies to: (a) any solicitation and/or recommendation of a product we make to you on or after the Effective Date, provided that you enter into a transaction with us to buy and/or sell such product following our solicitation and/or recommendation; and (b) any transaction you enter into with us to buy and/or sell a product without or inconsistent with any solicitation or recommendation from us on or after the Effective Date. Page 2/10 Member HSBC Group

3 3.3 Our authority You authorise us to take such steps from time to time as we consider appropriate or useful to enable us to provide the Services relating to securities trading. Such steps may include the following (or any of them): (a) to purchase or subscribe for any type of securities in accordance with your Instructions; (b) to sell, redeem, transfer, convert, switch, exchange or otherwise dispose of securities and to deal with the proceeds in accordance with your Instructions; and (c) to deliver the documents of title and any other instruments relating to securities to you or to your order in accordance with your Instructions and at your risk; and (d) to aggregate orders effected on your behalf with the orders of other customers, ourselves or any member of HSBC Group. 4. Custodian Services 4.1 You authorise us to take such steps from time to time as we consider appropriate or useful to enable us to provide the Services relating to custody of securities. Such steps may include the following (or any of them): (a) to hold or arrange for securities to be held in safe custody. This may include holding or depositing securities with any clearing or settlement system, centralised depository or similar facility, or other system or depository as we or any person appointed by us consider appropriate; (b) to hold or arrange for bearer instruments to be held in bearer form and to register other instruments in our name or in the name of any other person appointed by us; (c) to withdraw securities from the Securities Account or to purchase, sell, dispose of or deal with securities in any other manner, and to handle their proceeds, in each case in any manner or for any purpose in accordance with your Instructions or as permitted by these Terms and Conditions to the fullest extent permitted by Applicable Regulations; (d) to deliver documents of title and any other instruments relating to securities to you or to your order in accordance with your Instructions and at your risk; (e) where securities are registered in our name or in the name of any other person appointed by us and have been deposited or held with us under these Terms and Conditions: (i) to notify you of any notice or information received by us which requires your action in relation to such securities; (ii) to make request, collect or receive payments, interests or any other cash distributions payable on such securities arising from acquisition, ownership, disposal, redemption, conversion, exchange or other dealing of such securities; (iii) to exercise any rights arising from or attached to such securities; and (iv) to execute documents as necessary or useful for the purposes of any of the above matters; (f) unless we have received conflicting Instructions, without giving you notice to: (i) exchange securities where the exchange is purely administrative. This may include exchanging temporary securities for definitive securities, and exchanging warrants or other documents evidencing title to securities for the actual securities; and (ii) perform all other ancillary acts which we or any other person appointed by us may reasonably consider to be necessary or useful to carry out any Instructions, perform custodian services or exercise our rights under this Clause In relation to the matters set out in Clause 4.1(e): (a) we will act on your Instructions in each case provided that we receive Instructions from you within a reasonable time. If we do not receive Instruction at all or within a reasonable time, we are entitled not to attend any meeting or exercise any voting or other right (including the completion of proxies) and we are entitled to act or refrain from acting in accordance with the default option specified in any notice or request for Instructions; and (b) nothing in Clause 4.1(e) obliges us to notify you of any notice or Corporate Action information (including proxy voting form) received by us, or restricts our right to take such actions as we consider appropriate in our discretion. 4.3 In providing custodian services, we will maintain records which identify Your Securities. Such records will segregate Your Securities from other assets held by us for ourselves or for our other customers. 4.4 We have the right not to accept securities for deposit under this Clause 4 in the following circumstances (or any of them): (a) you are not the legal and beneficial owner of the securities and you do not give us the necessary transfer documents or Instruction to enable us to transfer the beneficial ownership to you, or you hold any of the securities on behalf of any third party; (b) you do not give us the necessary transfer documents or Instruction as we may require to enable us to register the securities in our name or in the name of our nominee; (c) the securities are not free of mortgage, charge, pledge, lien, right of set-off or any security interest, encumbrances or claims of any kind in favour of any person other than us; and (d) you do not pay any fees, reasonable expenses, duties or other amounts payable in respect of any transfer or registration set out in paragraph (a) or (b) above. 4.5 All securities delivered, purchased or held pursuant to these Terms and Conditions may be held in our name (as your nominee), by our nominee or agent or by the nominee of the relevant clearing system, custodian or depository. These securities will be held in accordance with or as permitted by Applicable Regulations and Market Requirements. For the purposes of settling any purchase or sale of securities or transacting with regard to any Corporate Action, we and the other nominee entities may transfer securities between one another. 4.6 Entitlements to shares and any other benefits (including cash proceeds arising from Corporate Action) accruing on securities held for customers by us or any person appointed by us which have been pooled will be distributed amongst those customers. Such entitlements will be distributed in the same proportions as the respective holdings of customers who have given identical instructions in connection with the relevant Corporate Action in relation to their holdings of the pooled securities. If a distribution would otherwise require the allocation of a fraction of an asset or unit of currency to you, we are entitled to credit to the Cash Account an amount which we calculate to be the value of the fractional entitlement instead of allocating such entitlement to you. 4.7 Without limiting or reducing our rights under other provisions of these Terms and Conditions, we have the right without giving reason: (a) (either directly or via any agent or nominee) not to (1) act on any Instructions to requisition any meeting of or propose or second any resolution at any meeting of any issuer of securities, or (2) take any other action as registered or nominee holder of any securities, in each case if such action would in our opinion materially prejudice our position or reputation (or that of any relevant agent or nominee). We (either directly or via any agent or nominee) will inform you of our decision not to act as soon as practicable after receipt of the relevant Instructions or of notice of the relevant meeting; and (b) not to provide any custodian or withdrawal service for securities listed or traded in the United States of America. Page 3/10

4 5. Provision of Services 5.1 In addition to the authority in Clauses 3 and 4, you authorise us to take such steps from time to time as we consider appropriate or useful to enable us to provide the Services and to exercise our authority or powers under these Terms and Conditions. Such steps may include the following (or any of them): (a) to take action or not to take action in order to comply with any Applicable Regulation or Market Requirement. Nothing in this clause will remove, exclude or restrict your rights in law; (b) on your behalf, to withhold or make payment of any taxes or duties payable on or in respect of securities; (c) to co-mingle Your Securities with the property of other persons; (d) to return to you securities which may not have the same serial number or identification as those deposited with or received by us as long as the securities returned are of the same class and nominal amount; (e) to act on the advice of our legal advisers, accountants, brokers or other professional advisers without liability for any acts or omissions on their part; (f) not to accept securities for deposit or to return to you any securities deposited with us without giving any reason or prior notice; and (g) to participate in and to comply with the rules and regulations of any depository or system which provides central clearing and settlement facilities for securities and to hold the securities in such depository or system on such terms as such depository or system may customarily operate. In each case we are not liable for any act or omission on the part of the manager or operator of the relevant depository or system; and (h) generally to do all acts and things which are necessary for or incidental to the provision of the Services or exercise of our authority or powers under these Terms and Conditions. 5.2 We may appoint any person as our nominee, agent or delegate to perform any of the Services for us. That person may or may not be a member of the HSBC Group and may be local or overseas. We may delegate any of our powers under these Terms and Conditions to that person. That person may further appoint any other person as its nominee, agent or delegate to perform any of the Services for it and may further delegate to that other person the powers delegated by us. In such a case, we will remain liable for the negligence or wilful default of any such person. 5.3 Except specified otherwise in these Terms and Conditions, in performing the Services, we will use the same degree of care as we would use in respect of our own property. 5.4 You authorise us to disclose any information we have relating to you, Your Securities and the Services to any other person appointed by us as our nominee, agent or delegate to perform any of the Services for us (whether or not a member of the HSBC Group and whether local or overseas). 5.5 We have no obligation to ascertain your nationality or whether any restriction applies to any securities. This may include restriction on ownership, owner's nationality or foreign exchange control or requirement. 5.6 Provision and use of the Services are subject to Applicable Regulations and Market Requirements. In this connection: (a) In the event of any inconsistency between these Terms and Conditions and any Applicable Regulation or Market Requirement, that Applicable Regulation or Market Requirement prevails. (b) You are bound by Applicable Regulations and Market Requirements and any action or step taken by us to prevent or remedy a breach of Applicable Regulations or Market Requirements, as if the Applicable Regulations and Market Requirements are expressly set out in these Terms and Conditions. (c) Nothing in these Terms and Conditions will exclude or restrict any obligation or liability that we may owe to you in law or under any requirement imposed by HKMA or SFC if we are not permitted to exclude or restrict that obligation or liability under the relevant law or requirement. 6. Reports, Statements and Information 6.1 Reports and statements (a) We will provide you with such reports and statements relating to the Services in accordance with the applicable requirements prescribed by HKMA and SFC: (i) at such intervals as agreed by you and us but at least on a monthly basis; and (ii) as soon as reasonably practicable after receiving your request. (b) We may provide the reports and statements by placing them in your Personal Internet Banking profile, or by or post. We may charge reasonable fees for providing reports and statements by post at your request. Where the applicable regulatory requirements do not require us to provide statements for an Securities Account, we may provide statements at our discretion if we consider appropriate whether or not you have opted not to receive statement. (c) You should examine each report or statement provided by us to check its accuracy. You should see if there is any error, omission, discrepancy, unauthorised transaction or irregularity shown in it, whether caused by forged signature or other forgery, fraud, lack of authority or negligence of any person. You should notify us of any alleged error, omission, discrepancy, unauthorised transaction or irregularity in a report or statement within ninety (90) days after we provide it by any means specified in paragraph (b) above. If we do not receive any such notice from you within the specified period, (1) the report or statement will be considered as correct, conclusive and binding on you, and (2) you will be considered to have waived any right to raise objection or pursue any remedies against us in relation to that report or statement. (d) You consent that we may send statements of the Securities Account, confirmations or similar documents relating to the Services electronically in the form of estatements or eadvices and do not have to send hard copies afterwards unless you request. Until you have revoked the consent to receive estatements or eadvices, the separate terms and conditions for estatements and eadvices shall apply. In the event of any inconsistency between those terms and conditions and this clause in relation to an estatement or an eadvice, the former shall prevail. The indemnity provisions set out in those terms and conditions do not and should not be interpreted to limit or reduce the effect of any indemnity provisions set out in these Terms and Conditions. 6.2 Information (a) We have no obligation to notify you if any Instruction relating to any Service is not performed or is only partially performed for any reason. You should contact us subsequently if you require confirmation. (b) We agree to notify you of any material change to our name, principal address, registration status, CE number or the Services offered by us from time to time. (c) You agree to notify us of any material change to any information provided to us in connection with the Securities Account or the Cash Account or use of the Services. (d) Without limiting or reducing the effect of paragraph (c) above, you agree to the following: (i) notify us promptly if your domicile, residence or nationality changes (including obtaining any new nationality); (ii) provide us with any information we may request for analysing the tax implications of any change above (including the reasons for such change); and Page 4/10

5 (iii) if any change above occurs, we have the right to (1) cancel all your pending orders before the relevant exchange or market opens, and (2) withhold an amount calculated in accordance with the maximum withholding tax rate (or any other withholding tax rate as we determine from time to time). 6.3 After effecting a securities transaction, we will: (a) make available the essential features of the transaction as soon as reasonably possible through any means or medium specified by us from time to time. You should check the essential features of the transaction yourself through the specified means or medium. You accept that we have no obligation to confirm with you the essential features of a transaction in any other manner; and (b) provide you with a contract note in accordance with the Applicable Regulations. If the contract note refers to a settlement date and if settlement cannot take place on that date due to suspension of business or trading for any reason, the settlement date will be deferred to the next trading day. Reasons for suspending business or trading may include hoisting of typhoon signal No.8 or above or black rainstorm warning. 7. Instructions 7.1 If you wish to use any Services, you have to give us Instruction. You also have to supply such information and documents, and complete such forms and procedures as we may specify from time to time. 7.2 We have the right to set or vary from time to time the manner in which the Securities Account or the Services may be used. This includes when you may operate the Securities Account on a Business Day, or the cut-off time for receiving Instructions on a Business Day. 7.3 We have the right to accept or refuse any Instruction or to prescribe any condition for accepting an Instruction without giving any reason. We are entitled to act in accordance with our regular business practice and procedure and will only accept Instructions insofar as it is (in our reasonable opinion) practicable and reasonable to do so. 7.4 You authorise us to act on any Instruction given or appears to be given by you. We have no obligation to verify the identity of the person giving an Instruction. We may act on an Instruction if we reasonably believe that it is given or authorised by you without being liable in any circumstance. You will be bound by that Instruction as understood and executed by us in good faith even if (i) it is incorrect, false or unclear, or (ii) it was not given or authorised by you. 7.5 We have the right not to accept or act on any Instruction in the following circumstances (or any of them): (a) as regards an Instruction to purchase or subscribe for securities: (i) if there are insufficient available funds in the same currency as the currency of the relevant securities standing to the credit of the Cash Account to meet the purchase price and estimated expenses in connection with that purchase or subscription. However, we may at our discretion accept the Instruction. In that case, we have the right to convert any funds in the Cash Account into the currency of the relevant securities at the exchange rate as we consider appropriate; and (ii) if there are insufficient available credit facilities to meet such purchase price and expenses, or any terms and conditions relating to such facilities have not been satisfied in our opinion; (b) as regards an Instruction to sell or dispose of securities, if there are insufficient quantity of the relevant securities to meet the settlement obligation. The securities must be free from any charge, lien or other security interest or encumbrances or claims in favour of any person (including us). The securities may be: (i) held in our name as nominee or in our nominee's name; or (ii) due to be but not yet credited to the Securities Account. 7.6 We have the right to set cut-off time for receiving Instructions to purchase or sell securities in respect of any exchange or market. We will inform you of the applicable cut-off time upon request. 7.7 You should give Instructions by allowing us sufficient time to process them. We have no obligation to act on any Instruction on the same day if we are not given sufficient time to process it or if it is received after the cut-off time on that day. If a trading date is specified in an Instruction and that Instruction is not executed (in whole or in part) for any reason on that trading date, that Instruction (or the unexecuted part) will be considered to lapse (1) on the expiry of that trading date, or (2) on the following business day if that trading date is a public holiday in the market where the Instruction is to be executed. 8. Our Duties Instructions 8.1 We will act on an Instruction as soon as reasonably practicable after we receive it. We are not liable for loss, damage or expense or consequential loss, damage or expense of any kind which you or any other person may incur or suffer (including loss, damage or expense suffered or incurred as a result of any fluctuation in the price of any securities between the time of giving or receipt of any Instruction to or by us and the time we act on it) arising from or in connection with our decision not to process any Instruction or our delay or failure to act on any Instruction in full or in part for any reason, unless such delay or failure is caused by our negligence. 8.2 In addition to any other rights conferred on us under these Terms and Conditions, we have the right to delay acting or not to act on an Instruction without prior notice in the following circumstances (or any of them): (a) if the Instruction is unclear in our reasonable opinion; (b) if the Instruction is not given in a form or by such means as acceptable to us; (c) if we are unable to act on the Instruction due to prevailing market conditions or any other reason beyond our reasonable control; (d) if, in our reasonable opinion, the Instruction is not consistent with any Applicable Regulations or Market Requirements or the provisions of these Terms and Conditions; and (e) if the Instruction is not submitted by you in person. 9. Purchase and Sale Instruction The following apply where we accept an Instruction: (a) on receipt of an Instruction to purchase or subscribe for securities: (i) we will calculate in good faith the amount required to meet the purchase price and estimated expenses (including tax, duty or other expenses) in connection with that purchase or subscription; (ii) we have the right (but have no obligation) to debit or withhold an amount to cover all actual or contingent liabilities incurred by us in connection with that Instruction (including the amount in paragraph (i) above). We may debit or withhold such amount from the sum available (whether in the form of credit balance or credit facility) in the Cash Account (including funds arising from the sale or disposal of securities on your behalf) or any other account maintained by you with us; and (iii) until completion of that purchase or subscription you are not entitled to withdraw all or any part of the amount debited or withheld under paragraph (ii) above and that amount does not constitute a debt owed by us to you. Page 5/10

6 (b) on receipt of an Instruction to sell or dispose of securities: (i) we have the right (but have no obligation) to debit or withhold the relevant securities from the Securities Account on completion of that sale or disposal or (at our discretion) at any time before completion; and (ii) until completion of that sale or disposal you are not entitled to withdraw or in any way deal with all or any part of the securities debited or withheld under paragraph (i) above and you should hold them on trust for us. 10. Cancellation of Instructions 10.1 We are not under an obligation to act on an Instruction to cancel or amend an earlier Instruction. We may have fully executed that Instruction or we may have insufficient time or we may be unable to cancel or amend an unexecuted or partly executed Instruction for any other reason. In that case, we are not liable for any loss or expense suffered or incurred by you arising from or in connection with our acting on the earlier Instruction An Instruction (or a part of it) may not be executed. We may at our discretion cancel any Instruction (or any part of it) that has not yet been fully executed if, in our reasonable opinion, there are grounds for cancellation. 11. Limitations on Liability and Indemnity 11.1 No trust or fiduciary relationship (a) Providing the Services to you does not make us your trustee or investment adviser. In providing the Services, we will use the same degree of care as we use in respect of our own property. We have no trust or other obligations in respect of your moneys or assets other than those expressly specified in these Terms and Conditions. (b) Where we provide custodian services relating to securities or the Services or have discretion in managing your moneys or assets (if any), notwithstanding any other provisions contained in these Terms and Conditions or any other arrangements you have with us, you acknowledge that (i) such services provided by us do not constitute a fiduciary relationship between you and us, and (ii) we shall, in no circumstances, be required to undertake any action that could possibly characterise us as a fiduciary to you We have no obligation to examine or verify the validity of ownership or title of any securities. We are not responsible for any defect in ownership or title of any securities purchased or held or to be purchased or held by us on your behalf Neither we nor any of our agents or nominees are liable for the following (or any of them): (a) the management or performance of your assets (including any reduction in the value of Your Securities); and (b) any taxes or duties payable in respect of Your Securities Except as set out in Clause 11.5, we are not liable for loss, damage or expense of any kind which you or any other person may incur or suffer arising from or in connection with the following (or any of them): (a) your use of the Services or our providing the Services to you, maintaining the Securities Account for you, or effecting any transactions for or with you; (b) our decision not to process any Instruction or our delay or failure to act on an Instruction in part or in full for any reason; (c) any fluctuation in the price of the relevant securities between the time we receive an Instruction and the time we act on it; (d) any default by you in performing your obligations under these Terms and Conditions, the Applicable Regulations, Market Requirements or relating to the Securities Account or the Services; (e) the preservation or enforcement of our rights or exercise of our powers in connection with the Securities Account or the Services; and (f) your failure to provide complete, accurate and up-to-date information requested by us in discharging our regulatory or legal duties (including but not limited to your Customer Financial Information under Clause 3.2.1) If it is proved in a case set out in Clause 11.4 that there was negligence or wilful default by (i) us, (ii) our agents or nominees, or (iii) our officers or employees or that of our agents or nominees, then we will be liable for any loss and damage you incur or suffer that is direct and reasonably foreseeable arising directly and solely from such negligence or wilful default We are not liable for any loss, cost or damage of any kind incurred or suffered by you as a result of any interruption, delay or failure (whether total or partial) in providing any of the Services or our equipment or facilities to you or performing our duties and obligations in respect of the Services to the extent that it is attributable to any cause or circumstance that is beyond our reasonable control or the reasonable control of our agents or nominees In no circumstances will we be responsible to you or any other person for any loss of profit or interest, indirect or consequential loss arising from or in connection with our providing, or failure or delay in providing, the Services Except as set out in Clause 11.9, you will indemnify and reimburse (i) us, (ii) our agents and nominees, and (iii) our officers and employees and that of our agents or nominees for all actions, proceedings and claims which may be brought by or against us or them, and for all losses, damages and reasonable costs and expenses which we or they may incur or suffer as a result of or in connection with the following (or any of them): (a) your use of the Services or our providing the Services to you, maintaining the Securities Account for you, or effecting any transactions for or with you; (b) our decision not to process any Instruction or our delay or failure to act on an Instruction in part or in full for any reason; (c) any fluctuation in the price of the relevant securities between the time we receive an Instruction and the time we act on it; (d) any default by you in performing your obligations under these Terms and Conditions, the Applicable Regulations, Market Requirements or relating to the Securities Account or the Services; (e) the preservation or enforcement of our rights or exercise of our powers in connection with the Securities Account or the Services; and (f) your failure to provide complete, accurate and up-to-date information requested by us in discharging our regulatory or legal duties (including but not limited to your Customer Financial Information under Clause 3.2.1). This indemnity shall continue after the termination of the Services, the Securities Account or these Terms and Conditions If it is proved that any actions, proceedings, claims, losses, damages or amounts set out in Clause 11.8 was caused by negligence or wilful default of (i) ours, (ii) our agents or nominees, or (iii) our officers or employees or that of our agents or nominees, then you are not liable under Clause 11.8 to the extent that it is direct and reasonably foreseeable arising directly and solely from such negligence or wilful default We may at our discretion agree to accept for deposit or handle securities which are not fully paid. If we agree to accept or handle such securities, we are entitled to impose any conditions as we consider appropriate. You authorise us (but we have no obligation) to make any payment relating to the securities on your behalf as we consider appropriate. The indemnity in Clause 11.8 applies in this case. In particular, you agree to pay us on demand the amount of any call in respect of the securities. Page 6/10

7 12. Your Confirmation and Understanding 12.1 You confirm as follows: (a) you are not resident in a country where there is any restriction on you relating to purchase of any securities. If you become resident in any such country, you will inform us immediately and will if we require sell or redeem any such restricted securities; (b) when purchasing or dealing in any securities, you will ensure that you are not subject to any prohibition against the purchase or dealing in the relevant securities, and you are not acting for any person who is subject to such prohibition You understand and accept the following risk disclosure statements (a) Risk of Securities Trading The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities. (b) Risk of Trading Growth Enterprise Market Stocks Growth Enterprise Market (GEM) stocks involve a high investment risk. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. GEM stocks may be very volatile and illiquid. You should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Current information on GEM stocks may only be found on the internet website operated by The Stock Exchange of Hong Kong Limited. GEM Companies are usually not required to issue paid announcements in gazetted newspapers. You should seek independent professional advice if you are uncertain of or have not understood any aspect of this risk disclosure statement or the nature and risks involved in trading of GEM stocks. (c) Risk of Client Assets Received or Held Outside Hong Kong Securities that are foreign listed securities and are held outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction that may be different from the SFO and the rules made under the SFO. Consequently, such securities may not enjoy the same protection as that conferred on securities received or held in Hong Kong You confirm that you act as principal (and not as agent or nominee for any other person) in relation to the Services. You do not and will not hold any securities on behalf of any other person. 13. Fees and Expenses 13.1 You are required to pay us fees for providing the Services or maintaining the Securities Account. You will be notified of the fees at the time of the opening of the Securities Account. We have the right to vary the fees from time to time in accordance with Clause 20. A list of our fees is available upon request at any of our branches. We may collect fees from you in such manner and at such intervals as we may specify. Paid fees are not refundable unless we agree otherwise You are required to pay all fees and expenses of reasonable amounts and reasonably incurred by us or any person appointed by us in providing the Services. These may include the charges of any exchange, depository or custodian. A contract note, certificate or other document issued by us setting out the amount and nature of any fees or expenses is conclusive evidence of such fees or expenses binding on you in the absence of manifest error In addition to and without limiting or reducing any of our rights in law or under these Terms and Conditions, if you fail to pay any fees or expenses when they are due and payable (including your failure to pay any fees and expenses incurred by us where you do not fulfil your settlement obligations relating to any transaction and we take action at our discretion to fulfil the obligations on your behalf): (a) we are entitled without prior notice to debit the outstanding amount from the Cash Account or any other account maintained by you with us; and (b) we have a lien with power of sale over any securities standing to the credit of the Securities Account or any other account maintained by you with us. Such securities shall stand as continuing security for the outstanding amount. We have power to sell any or all of such securities by public or private sale on such terms we consider appropriate. We are not liable to you for any loss which may arise from such sale. We may apply the proceeds of sale in or towards settlement of the outstanding amount after deducting the costs and expenses of reasonable amounts and reasonably incurred by us in relation to the sale. 14. Power to Debit In addition to and without limiting or reducing any of our rights in law or under these Terms and Conditions, we are entitled without prior notice to you debit any amount payable by you to us (including any fees, expenses or interest) from the Cash Account or any other account maintained by you with us irrespective of whether there are sufficient available funds, overdraft or other facilities in such account. If any debit causes the relevant account to be overdrawn, you are liable to repay the outstanding amount to us on demand together with fees, expenses and interest accruing on the outstanding amount at such rate as we may set from time to time. 15. Commission You agree that we may accept from any manager, stockbroker, underwriter or any other person (whether or not a member of the HSBC Group) engaged in a transaction involving the purchase or sale of any securities for you any rebate or payment of brokerage, commission or discount payable in respect of that transaction. You further agree that we are entitled to retain for our own account and benefit absolutely the above amounts and any interest generated on any payment made by or to you pending transfer to the Cash Account (or any other account maintained by you with us) or to the manager, stockbroker, underwriter or any other person to effect an Instruction. 16. Suspension or Termination of Services 16.1 We may cease to provide the Services by giving not less than thirty (30) days' notice in writing to you. You may terminate the Services by giving not less than thirty (30) days' notice in writing to us If we are of the opinion that the events set out in Clause 16.3 or any of them (each an "Event of Default") occur, we have the right to suspend or terminate all or any part of the Services, the Securities Account and the Cash Account with immediate effect The Events of Default are as follows: (a) you breach or fail to perform or observe these Terms and Conditions. This may include your failure to settle any transaction, pay any amount due or perform any other obligations in relation to the Services or the Securities Account; (b) any confirmation given by you under these Terms and Conditions proves to be false or misleading in any material respect at the time it was given; (c) you take any action or procedure to the following effect: (i) declare bankruptcy; Page 7/10

8 (d) (e) (f) (g) (h) (i) (j) (k) (ii) reschedule your debts or seek a freeze, moratorium or other similar relief relating to your debts. This may include you starting negotiations with one or more of your creditors for the general readjustment or rescheduling of your debts, or you entering into any composition or other arrangement for the benefit of your creditors generally; or (iii) appoint trustee, receiver, liquidator, administrator, custodian or other similar official for a substantial part of your assets; any action or procedure is commenced against you or your assets (1) in the nature specified in paragraph (c) above, or (2) for execution, distress, attachment or garnishment against your assets or for an encumbrancer to take possession of your assets; (where the Services, the Securities Account or the Cash Account is provided to two or more persons or where there is another person with authority on the Securities Account or the Cash Account) there is any dispute or proceedings between any of you with respect to the Services, the Securities Account or the Cash Account; you breach or fail to observe any Applicable Regulations or Market Requirement or it is necessary or useful in our opinion to prevent violation of any Applicable Regulation, Market Requirement or good standard of market practice; a legal order or request is binding on or issued in relation to the Securities Account, the Cash Account or any of your other accounts or assets maintained or deposited by you with us; it is necessary or useful for our protection, or if any action is taken or event occurs which we consider to have or may have a material adverse effect on your ability to perform your obligations under these Terms and Conditions; if you or (where the Services, the Securities Account or the Cash Account is provided to two or more persons) any of you die or become incapacitated; we are of the opinion or have reason to suspect that (1) we have not been given a valid mandate or (2) you are not the true owner of the Securities Account or the Cash Account or otherwise do not have the authority to operate the Securities Account or the Cash Account; and any other event which, in our opinion, renders suspension or termination of the Services, the Securities Account or the Cash Account necessary or useful If all or any part of the Services, the Securities Account or the Cash Account are suspended or terminated for any reason whether by you or by us, or if any one or more Event of Default occurs, we have the right to do the following (or any of them): (a) cancel or terminate any Instruction that we have not executed at the time the Services, the Securities Account or the Cash Account are suspended or terminated, or at the time that Event of Default occurs; (b) complete any transaction that we have effected on your behalf before the Services, the Securities Account or the Cash Account are suspended or terminated, or before that Event of Default occurs; (c) exercise any of our right under Clause 16.5; and (d) not to accept or act on any Instruction given by you or on your behalf even if we have received contrary Instructions from you We are entitled at our discretion without limiting or reducing any of our rights in law or under these Terms and Conditions to take the following steps (or any of them): (a) without prior notice to you, set off or withhold any monies held to the credit of the Cash Account or resulting from the sale of any securities against any other monies due, owing or payable by you to us of any nature, including all amount payable by you under these Terms and Conditions; (b) without notice to you, combine or consolidate the Cash Account with any other account maintained by you with us; and (c) for the purpose of the exercise of any right under (a) and (b) above, to sell or otherwise dispose of any securities on such terms and to such persons as we may consider appropriate Even after the Services, the Securities Account or the Cash Account are suspended or terminated or after any Event of Default has occurred, you remain responsible for performing and discharging your obligations and liabilities created or accrued before then. 17. Prices You accept all of the following: (a) Prices of securities quoted by us may be provided by various market information providers or obtained by us from other sources. We and our market information providers endeavour to ensure the accuracy and reliability of the prices quoted but neither we nor them guarantee that any price quoted is accurate, reliable, timely, complete or adequate for any purpose. We and our market information providers are not liable (whether in tort, contract or any other manner) for any loss or damages arising from or in connection with any inaccuracy, inadequacy or omission in any price quoted. (b) The price of any securities quoted by us (whether or not in response to your enquiry) is for reference only and is not binding on us. You should not rely on any price quoted for reference and you are solely responsible for relying on that price. (c) The actual bid and offer prices of a transaction may differ from the price quoted to you previously. Unless the price quoted is confirmed by us for a transaction, we are entitled to act on your Instruction to sell or purchase any securities at the price at which we or our agent actually effect the transaction, even if the price is less favourable to you than the price quoted by us previously. (d) You should not do the following (or any of them) with any price quoted by us: (i) disseminate it (or any part of it) to any other person; (ii) use or permit the use of it (or any part of it) for any illegal purpose; (iii) use it (or any part of it) other than for your personal reference; and (iv) use it (or any part of it) to effect any transaction or dealing in securities other than through us. 18. Your Consent to Lend Securities 18.1 In case you expressly give us consent to lend Your Securities, we will remain fully liable for the return of equivalent securities to you free of any encumbrances or liens of any nature The term of your consent to lend Your Securities under Clause l8.l will be for a period of twelve months and may be renewed by your written consent on its anniversary for a further twelve months in each case. 19. Communications 19.1 You agree that we may use any contact information provided by you and kept on our records (including address, telephone number, address and fax number) from time to time to communicate with you (whether through letters, telephone calls, SMS, fax, or other means) Unless we specify otherwise, you will be considered as having received any notice given by us: (a) at the time of personal delivery or leaving it at the address last notified in writing by you (if delivered personally); (b) forty-eight (48) hours after posting it to the above address if that address is in Hong Kong or seven (7) days after posting if that address is outside Hong Kong (if sent by post); (c) immediately after faxing it to the fax number last notified in writing by you (if sent by fax); Page 8/10