The information on this material is provided and published by Haitong International Securities Company Limited (“HTI”), a corporation holding licences for Type 1 (dealing in securities) and Type 4 (advising in securities) regulated activities pursuant to the Securities and Futures Ordinance (Cap. 571). The contents of this material has not been reviewed or approved by the Securities and Futures Commission. Any and all information provided on this material is for reference only and does not constitute an offer, a solicitation of an offer or any advice or recommendation to buy or sell any financial products. The prices of structured products such as Warrants and/or CBBCs may fluctuate greatly and past performance is not indicative of future performance. The value of structured products may become zero on or before the expiry date and investors may sustain a total loss of investment. CBBCs have a mandatory call feature and are subject to early termination, upon which (i) investors in category N CBBCs will lose all their investments in CBBCs; and (ii) the residual value of category R CCBCs may be zero. Structured products issued by HTI or its affiliate are uncollateralised and investors are relying on the issuer’s credit worthiness in determining the issuer’s ability to meet its obligations under the structured products. If the Issuer is insolvent or defaults in payment, investors may not recover part or all of the amount due. An investor should read carefully the relevant listing documents (and any documents appendix thereto) and the relevant supplemental listing document to understand the full details of the warrant and/or CBBC (including risk factors), and due consideration have been given having considered the nature and risks involved in investing in these products, to decide whether the investment is suitable for an investor’s individual circumstances and, if necessary, an investor should consult their professional advisers. HTI is also the liquidity provider for the warrants and/or CBBCs (“Structured Products”) referred to in the material . HTI may be the only person quoting prices (or market making) for the Structured Products on the exchange. As such, the secondary market for the Structured Products may be limited. HTI (together with its subsidiaries and affiliates, “HTI Group”) provides the information in good faith and has used its best endeavours to ensure that the information provided is accurate and complete. HTI Group however does not represent or warrant the completeness or accuracy of the information and HTI Group. Haitong International Securities Company Limited may make a market in the securities and/ or the derivatives on these securities herein covered. Haitong International Securities Company Limited and/or its group company(ies) may have presently, or have had within the last 12 months, an investment banking relationship with the underlying entity of the securities herein covered. Haitong International Securities Company Limited is a member of Haitong International Securities Group which in turn belongs to group of companies of Haitong Securities Co., Ltd. HTISG and our affiliates, officers, directors, and employees, excluding the analysts responsible for the content of this document, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this document. Haitong International Securities Company Limited and/or its group company(ies) and its affiliates, officers, directors, and employees, excluding the analysts responsible for the content of this document, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this document.

Inline warrant is newly introduced to the market and there is no similar products currently listed on the Exchange for comparison