Email Disclaimer

Email Disclaimer:

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Analyst Certification:

The views or opinions expressed accurately reflect the personal views of the analyst principally responsible for the preparation of the report attached to this email ('Analyst') and may not reflect the views or opinions of Seismic Research. The Analyst has taken reasonable care to achieve and maintain independence and objectivity in making any recommendation contained in this e-mail. No part of the Analyst's compensation from Seismic Research will be directly or indirectly related to the inclusion of specific recommendations or views in this research.

General Disclaimer:

This e-mail is intended solely for information purposes of clients of Seismic Research. It contains purely general information intended as a discussion tool and does not constitute personal financial product advice. You should not act upon this email without a discussion of its content and the suitability thereof. The content of this e-mail does not take into account your personal objectives, financial situation or needs and you must determine whether it is appropriate to your situation. You should obtain financial, legal and taxation advice before making any financial investment decision. We do not guarantee the performance of any financial products or the return of an investor's capital. This email is not an offer to buy or sell or a solicitation of an offer to buy or sell the securities or financial instruments mentioned or to participate in any particular trading strategy.

Seismic Research has not independently verified the information contained in this e-mail, which is derived from publicly available sources believed to be reliable at the time of publication. We do not accept responsibility for any errors or omissions, or with respect to the terms of any future offer or transactions conforming to any terms outlined in this e-mail. Note that we may earn fees in connection with the acquisition or disposal of any financial products that may be referred to in this e-mail and that we may also receive fees from and/or have a relevant interest in, the issuer ('Issuer') of those financial products. From time to time we will have long or short positions in, act as principal in, and buy or sell the financial products of the companies referred to in this e-mail. We may also attend site visits and other meetings hosted by the Issuers the cost of which may be met in part or in whole by the Issuers.

Australian Financial Services Licence:

Australian Financial Services Licence (AFSL): Seismic Research is an Authorised Representative of an AFSL holder (AFSL: 338 943). Authorised Representative number: 389 109.