Documents regarding opening an account/a deposit for individuals/private clients

(1)

Documents regarding opening

an account/a deposit for

individuals/private clients

(as of July 2015)

Title Documents regarding opening an account/a deposit for individuals/private clients

Contains the following individual forms

• Client base agreement for opening an account/a deposit (20.110) • Account/deposit power of attorney for multiple persons (31.100)

• Account/deposit power of attorney for an external portfolio manager (32.300) • Note regarding the scope of deposit protection (42.221)

• Agreement on the execution of orders/instructions placed electronically (44.100)

• Important information regarding loss risks in the case of financial futures transactions (53.100) • Client classification as Retail Client (54.100)

• Framework agreement on the execution of transactions in financial instruments (70.100) • Clearing Framework Agreement (70.110)

• Master Agreement for Financial Derivatives Transactions (70.200) • Information in accordance with the “remote purchase” law (93.100)

Baader Bank Aktiengesellschaft

Weihenstephaner Strasse 4 85716 Unterschleissheim Germany T 00800 00 222 337* F +49 89 5150 2442 service@baaderbank.de www.baaderbank.de

* Toll-free from (inter)national landline networks. Charges may apply from other networks.

(2)

Client base agreement for opening an account/a deposit

for individuals/private clients (individual or joint account)

Page 1 of 6

For internal use by the bank

Kundenstammnr.: Konto-/Depotnr.:

20.110 en − as of February 2015

Unless otherwise agreed, the Bank will manage all future accounts/deposits that are to be opened under the above-mentioned client reference number in accordance with the data established and agreements made in the client base agreement.

1 Personal information

First account holder

Title

Mr Mrs Surname

First name Birth Name

Please indicate registered address/Home address

Additional address information (c/o) Address Postcode City Country Date of birth Place of birth Tax reference number Nationality 1 Nationality 2 Nationality 3 Telephone number Mobile phone number Fax number E-mail address

Second account holder

Title

Mr Mrs Surname

First name Birth Name

Please indicate registered address/Home address

Additional address information (c/o) Address Postcode City Country Date of birth Place of birth Tax reference number Nationality 1 Nationality 2 Nationality 3 Telephone number Mobile phone number Fax number E-mail address

Baader Bank Aktiengesellschaft

Please return duly signed:

Baader Bank Aktiengesellschaft

Customer Service

Weihenstephaner Strasse 4

85716 Unterschleissheim

Germany

(3)

Client base agreement for opening an account/a deposit

for individuals/private clients (individual or joint account)

Page 2 of 6

First account holder (continued)

Education/Qualification

Self-employed Employee/Public official Industry

Postal address (if nothing is entered in the following fields, the registered address will be used as the mailing address)

Additional address information (c/o) Address

Postcode City Country

Resident Non-resident Resident taxpayer Non-resident taxpayer

Country of taxpaying

Marital status Single Married Divorced

Widowed Separated Civil partnership

Do you hold a public office (e.g. as a civil servant, EU official or government employee)?

no yes, which?

Clarification PEP1_{-status see below „For internal use by the bank“}

1 PEP = Politically Exposed Person; clarification of PEP-status is necessary for each natural person – for both the contracting party and the beneficial owner.

Second account holder (continued)

Education/Qualification

Self-employed Employee/Public official Industry

Postal address (if nothing is entered in the following fields, the registered address will be used as the mailing address)

Additional address information (c/o) Address

Postcode City Country

Resident Non-resident Resident taxpayer Non-resident taxpayer

Country of taxpaying

Marital status Single Married Divorced

Widowed Separated Civil partnership

Do you hold a public office (e.g. as a civil servant, EU official or government employee)?

no yes, which?

Clarification PEP1_{-status see below „For internal use by the bank“}

2 Form of transmission of account statements

Web portal Sent by post

As a basic principle, account statements are drawn up daily and made available to the client in the Web portal (www.baaderbank.de). The client may choose to have these statements sent by post (this service is subject to a fee). Baader Bank Aktiengesellschaft (hereinafter referred to as the “Bank”) will, in addition, send each client an account balancing statement in accordance with Section 7 (1) of the Bank’s General Terms and Conditions of Business.

3 Bank account in EUR

Please transfer payments from my/our clearing account to the following account: Account holder Bank Address of bank Account number/IBAN BIC Page 3 of 42

(4)

Client base agreement for opening an account/a deposit

for individuals/private clients (individual or joint account)

Page 3 of 6

4 Information in accordance with of the GwG

2

_{, KWG}

3

_{and AO}

4

The Bank is legally obligated to collect and document in writing the following information:

4.1 Nature and purpose of the business relationship

Capital investment/Financial instrument Payments (e.g. current account) Credit transaction Other:

4.2 Clarification of the economic beneficiary5

I/We am/are acting in my/our own economic interests and not on the initiative of a third party (in particular not as a trustee).

I/We am/are acting on the initiative of the following individual. If acting on the initiative of a company, the name/registered office thereof is to be recorded here and footnote 4 is to be observed.

Surname

(or name of the company) First name(s) Do you hold a public office (e.g. as a civil servant, EU official or government employee)? No Yes, which

Clarification PEP6_-status

see below „For internal use by the bank“

4.3 Duty of the account/custody account holder to cooperate under the GwG7

The account/custody account holder is obligated to make available the information and documents necessary for determining beneficial owners and to immediately report to the Bank any changes in the mandatory information provided to it that may arise in the course of the business relationship.

4.4 Questionnaire for clarification of “US person” status (FATCA)

2 German Money Laundering Act. 3 German Banking Act. 4 German Tax Code.

5 The economic beneficiary/beneficiaries is/are always the individual(s) on whose initiative the account/deposit is ultimately opened.

6 PEP = Politically Exposed Person; clarification of PEP-status is necessary for each natural person – for both the contracting party and the beneficial owner.

7 Articles 4 (6) and 6 (2) (1) of the Germany Money Laundering Act [GwG].

Do you hold US American citizenship (also in the case of dual nationa-lity)?

Do you hold a Green Card?

Are you assessed jointly with a US American spouse for tax purposes in the USA?

Period of at least 31 days spent in the USA during the current year or a total period of at least 183 days spent in the USA during the past three years. Days spent in the USA this year count fully (1/1), those last year on a 1/3 basis and those during the year preceding that on a 1/6 basis. Do you have a residence in the USA?

Do you have any other US American tax responsibility? Explanation:

If you have ticked one of the above points, you are kindly requested to send us a completed US American W-9 (“Request for Taxpayer Identification Number and Certification”) form. You will find the current version thereof on the Internet at www.irs.gov/pub/irs-pdf/fw9.pdf. Please consult your tax advisor if uncer-tain as to your US tax liability.

The client undertakes to give the Bank prompt notification of any changes arising in respect of the answers to the above questions. The client shall be liable towards the Bank for any and all damage or loss the latter might sustain as result of incorrect information provided wilfully or by gross negligence in the questionnaire for clarification of “US person” status and/or as consequence of any wilful or grossly negligent violation of the aforementioned obligation to provide notification.

Do you hold US American citizenship (also in the case of dual nationa-lity)?

Do you hold a Green Card?

Are you assessed jointly with a US American spouse for tax purposes in the USA?

Period of at least 31 days spent in the USA during the current year or a total period of at least 183 days spent in the USA during the past three years. Days spent in the USA this year count fully (1/1), those last year on a 1/3 basis and those during the year preceding that on a 1/6 basis. Do you have a residence in the USA?

Do you have any other US American tax responsibility? Explanation:

(5)

Client base agreement for opening an account/a deposit

for individuals/private clients (individual or joint account)

Page 4 of 6

5 Exclusion of investment advice

The Bank merely carries out transactions in financial instruments and does not offer any individual investment advice within the framework of the opening of this account/deposit. Portfolio management is a separate sphere of activity, for which a portfolio management contract is required. If the Bank provides the client with information (market commentaries, charts and analyses, etc.) extending beyond the obligations to provide clarification of the Securities Trading Act, this is not investment advice; rather it is merely intended to make it easier for the client to make independent investment decisions. Insofar as the Bank receives orders from you to carry out transactions in financial instruments that are based on the advice of an external portfolio manager, then this is also not considered to be investment advice provided by or on account of the Bank. If your external portfolio manager sends the Bank orders to carry out transactions in financial instruments, the latter will be acting as an intermediary for you.

6 Miscellaneous

No right exists to pay cash in and out of the Bank’s accounts. No individual tax certificates will be issued, merely annual tax certificates. The Bank draws attention to the fact that no voting rights will be exercised for clients. At the request of the client(s), entrance tickets/proxies for the respective shareholders’ meeting will be requested.

7 Validity of the Bank’s General Terms

and Conditions of Business and special

conditions

The Bank’s currently applicable General Terms and Conditions of Business (90.100) of the Bank will remain valid for all commercial transactions. Supplementary or deviating special conditions, e.g.

• Special conditions for dealings in securities (92.100), • Special conditions for forward trading (91.100), • Terms and conditions for credit transfers (90.300), • Conditions for use of the Bank`s Web portal (90.200),

• Conditions for tolerated overdrafts at the Baader Bank Aktiengesellschaft (100.300) and

• Information in accordance with the German „remote purchase“ law [Fernabsatzrecht] (93.100)

shall apply to individual business relationships. The wording of the individual conditions can be viewed on the Bank’s website (www.baaderbank.de) or requested from the Bank. The stock exchange orders to be executed on stock exchanges shall be subject to the individual conditions respectively applied by and at those exchanges which we offer according to our execution principles (95.100). The account holder(s) may also subsequently require that the General Terms and Conditions of Business and special conditions are sent to them.

8 Conditions for a joint account/deposit

Availment authorisation

1. Contents of the availment authorisation

Each account/deposit holder (account holder) may avail himself/ herself of the respective account/deposit without the cooperation of the other account holder, and make all agreements in connection with

the management of the account to the debit of the account/deposit, but with the following exceptions:

(1) Credit agreements and overdrafts

The participation of all account holders is required to conclude and amend credit agreements to the debit of the accounts/deposits. However, each account holder is independently authorised to avail himself/herself of, for instance, any kind of credits granted on the joint account and to avail himself/herself of the possibility of temporary overdrafts in accordance with standard bank practices.

(2) Forward trading

The agreement of all of the account holders shall be required to conclude and effect forward trading, in particular financial futures transactions and forward exchange dealings to the debit of the account/deposit.

(3) Issue and revocation of powers of attorney

An account/deposit power of attorney can only be issued jointly by all account holders. The revocation by one of the account holders shall result in the cancellation of the power of attorney. The Bank is to be immediately informed in writing of any revocation.

(4) Closure of an account/deposit

An account/deposit can only be closed jointly by all of the account holders (see Subsection 2 regarding the exception in the event of death).

(5) Revocation of the sole availment authorisation

The sole availment authorisation can be revoked by any account holder. The revocation is to be declared in writing to the Bank. Following revocation, the account holders shall only be authorised to avail themselves of the account jointly and in writing.

2. Regulations in event of the death of one of the account holders

The powers of the other account holder shall not be affected following the death of one of the account holders. However, the surviving account holder cannot close the account/deposit without the cooperation of the heirs. The rights of the deceased shall be assumed jointly by the latter’s heirs. Each heir shall, however, solely have the right to revoke the sole availment entitlement. If one of the co-heirs revokes the sole availment entitlement, each availment of the respective account/deposit shall require his cooperation. If all of the co-heirs revoke the account holder’s sole availment entitlement, all of the co-heirs can only avail themselves of the respective account/deposit jointly and in writing with the account holder.

Joint and several liability

The account holders shall be liable for liabilities arising from the joint accounts/deposits as joint and several debtors, i.e. the Bank may require each individual account holder to meet all of the claims.

Account/deposit statements

The account and deposit statements shall be sent as requested by the account holders, namely by post or by access to the Bank’s Web portal (www.baaderbank.de) with an access code. If the account holders have selected dispatch by post, the account/deposit statements shall be sent to the postal address selected by the account holders. At the request of the account holders, the account/deposit statements shall be sent to a second postal address. If the account holders have selected transmission via the Web portal, the Bank shall only issue one password for all account holders per joint account to allow them to gain access to the Web portal.

(6)

Client base agreement for opening an account/a deposit

for individuals/private clients (individual or joint account)

Page 5 of 6

11 Clarification regarding same-day transactions in the same financial instrument (“day trading”)

If the client intends to carry out same-day trading in the same financial instrument, e.g. securities, financial market instruments, financial instruments or derivatives, the particular risks of day trading are to be taken into consideration. The client must be aware of the following:

• Day trading can result in immediate losses • His/Her entire capital can be lost

• Additional capital must be procured if transactions are executed that produce losses exceeding his/her account capitalization • In case day trading transactions are financed by credit, the credit must be repaid irrespective of the success of the transactions • In attempting to realise profits through day trading, he/she will be competing with professionally and financially strong market participants

• Day trading requires in-depth knowledge on the part of the client, particularly to securities markets, securities trading techniques, securities trading strategies and derivative financial instruments

I/We have noted the contents of Section 11, “Clarification regarding same-day transactions in the same financial instrument (“day trading”)”.

Place, date Signature

Second account holder Place, date

Signature First account holder

12 Notes on risks regarding credit transactions

It has been drawn to the borrower’s attention that:

• He/She will not enter the “profit zone” until the return on the investment transaction financed with credit exceeds the costs of the credit and the costs of the investment transactions (commission, expenses)

• In addition to the explained risks, the credit must be repaid irrespective of the success of the transactions

The borrower has noted the contents of Section 12, “Notes on risks regarding credit transactions”.

9 Data protection declaration

I/We agree that the Bank and other companies belonging to the Baader Group may acquire, process, and make use of data within the framework of the opening, management and upkeep of the client relationship for the fulfilment of your tasks.

I/We can revoke the foregoing declaration of acceptance at any time in the future without any influence on the contract with the Bank. I/We further agree that the Bank has the right to record and retain recordings of telephone conversations in connection with the

performance of bank business. The recording and retention of the telephone conversations may, under certain circumstances, also be carried out for the fulfilment of legal obligations and for the purposes of providing proof. The conversations recorded are, and remain, the property of the Bank, and will be kept for a maximum period of six months. The recordings are not accessible to third parties unless the Bank is obligated to use them or make them available for the purpose of providing proof in any legal disputes.

10 Signing

Under inclusion of the printed conditions for a joint account/deposit, General Terms and Conditions of Business (90.100), Special conditions for securities transactions (92.100), Special conditions for forward trading (91.100), Terms and conditions for credit transfers (90.300), Conditions for use of the Bank`s Web portal (90.200), Conditions for tolerated overdrafts at the Baader Bank Aktiengesellschaft (100.300), Information in accordance with the German „remote purchase“ law [Fernabsatzrecht] (93.100) and the Data protection declaration (No. 9), hereby I/we apply to open an account/deposit pursuant to this client base agreement.

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Client base agreement for opening an account/a deposit

for individuals/private clients (individual or joint account)

Page 6 of 6

First account holder:

No Yes if yes, credit line:

Have you ever dealt in securities on a credit basis?

Second account holder:

No Yes if yes, credit line: Place, date

Signature

14 Warning notice

We herewith draw your attention to the fact that the Bank will be unable to assess the appropriateness of your transaction if you refuse to provide the information requested in Section 13 (“Previous investment behaviour”) above.

Bearbeitungsvermerk der Bank

Legitimation der/des Kontoinhabers geprüft und erfasst.

Bearbeitungs-hinweis

PEP-Status Kontoinhaber 1 geprüft nicht geprüft Kontoinhaber 2 geprüft nicht geprüft wirt. Berechtigter geprüft nicht geprüft

Datum Unterschrift/ Sachbearbeiter

13 Previous investment behaviour

When executing investment/securities-related services, banks are required to request information from their clients regarding their previous investment behaviour, inasmuch as this is required to protect the interests of the clients as well as with respect to the nature and extent of the proposed transactions. The issuing of the information is voluntary and is in the client’s own interest. If the information provided is no longer applicable, the Bank should be notified accordingly so that this information can be corrected.

Which of the following investment forms have you previously transacted?

Investment form Average transaction amount in

euros (thousands) Frequency (number of transactions per year) How many years’ experience do you have? First account

holder Second account holder First account holder Second account holder First account holder Second account holder Bonds Shares Foreign currency Open-end funds Warrants Options Futures

Certificates and structured products Other:

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Account/deposit power of attorney

for multiple persons

Page 1 of 4

31.100 en – as of July 2012

for an individual account/deposit

for all accounts/deposits under one client reference number for the entire business relationship

1 Information regarding the account holder

Surname First name Address Postcode City Account/deposit number

2 Empowerment

I/We hereby empower the persons named below as authorised representatives:

Item 01

Surname, first name

Individual power of attorney (I) Joint power of attorney (J)

Item 02

Surname, first name

Item 03

Surname, first name

Item 04

Surname, first name

Specimen signature for authorised representative 01 Specimen signature for authorised representative 02 Specimen signature for authorised representative 03 Specimen signature for authorised representative 04

Baader Bank Aktiengesellschaft

Customer Service

Weihenstephaner Strasse 4

85716 Unterschleissheim

Germany

(9)

Account/deposit power of attorney

for multiple persons

Page 2 of 4

31.100 en – as of July 2012

Item 05

Surname, first name

Item 06

Surname, first name

Item 07

Surname, first name

Item 08

Surname, first name

Specimen signature for authorised representative 05 Specimen signature for authorised representative 06 Specimen signature for authorised representative 07 Specimen signature for authorised representative 08

These persons will be able to represent me/us in business dealings with Baader Bank Aktiengesellschaft (hereinafter referred as the “Bank”). The power of attorney applies to my/our above-mentioned accounts/deposits. In the case of client reference numbers, the power of attorney shall apply – unless otherwise agreed – to all existing and future accounts/deposits under the client reference number/account/deposit number indicated:

Account/deposit number Client reference number

Those persons who are to be granted an individual power of attorney are to be identified by “I”, and those who are to be empowered jointly with another person indicated here are to be identified by “J”. If a person is only authorised to represent the account holder(s) jointly with another designated person, the number allocated to the relevant person on this specimen signature sheet is additionally to be indicated (e.g. “J with No. 01”).

The bank is legally obligated to record the names and addresses of authorised representatives. Therefore, the data will be stored by the Bank.

3 Regulations

3.1 Scope of the power of attorney

The power of attorney confers empowerment with respect to the bank to carry out all transactions on my/our indicated accounts/deposits.

In particular, the authorised representative can:*

- Avail himself/herself of prevailing credit balances (for example by means of credit transfers)

- Open additional accounts/deposits for the account holder under the abovementioned client reference number

- Avail himself/herself of credits granted

- Avail himself/herself of the possibility of temporary overdrafts in accordance with standard banking practices

- Purchase and sell securities and foreign currencies and demand delivery thereof to himself

- Receive and acknowledge account statements, bank statements, value instrument statements, deposit and earnings statements as well as other

statements and notifications

* If non-applicable, please delete.

This power of attorney does NOT confer empowerment to:

- Open additional accounts/deposits under a number other than the above mentioned client reference number

- Conclude or amend credit agreements - Conclude financial futures transactions - Provide and withdraw securities

- Accept notices of termination of accounts and credits - Carry out options transactions

- Issue substitute powers of attorneys

3.2 Closure of accounts/deposits

The authorised persons shall not be entitled to close the accounts/deposits until after the death of the account holder. In the event of there being several account holders, this authorisation shall only pertain following the death of all of the account holders.

3.3 Duration of the power of attorney

The power of attorney may be revoked by the account holder(s) at any time with respect to the bank or the authorised representatives. If the account holder(s) revoke(s) the power of attorney with respect to the authorised representatives, the party/parties revoking the power of attorney is/are to immediately inform the bank thereof in writing. In the case of several account holders, the revocation of the power of attorney by one account holder shall result in the cancellation of the power of attorney for the other account holder(s) as well. In the event of the power of attorney only being revoked with respect to one authorised representative, the remaining authorised representatives shall still be empowered. The power of attorney shall not be cancelled upon the death of the account holder(s). It shall remain in force for the heirs of the deceased account holder in each case.

If one of several co-heirs revokes the power of attorney, the authorised representative shall only be entitled to continue to represent those co-heirs who have not revoked his/her power of attorney. The bank shall be entitled to require the revoking party to prove that he/she is an heir.

Place, date Signature/ Company stamp Place, date Signature/ Company stamp Page 9 of 42

(10)

Account/deposit power of attorney

for multiple persons

Page 3 of 4

31.100 en – as of July 2012

Erteilung der Vollmacht:

Die Unterschrift des Vollmachtgebers wurde in meiner Gegenwart vollzogen.

Der Vollmachtgeber hat die zuvor geleistete Unterschrift mir gegenüber anerkannt.

Dem Vollmachtgeber wurde der Empfang der Vollmacht durch Einschreibebrief mit Rückschein eigenhändig;

Rückschein eingegangen am mit PostIdent-Verfahren

bestätigt. Die Unterschrift wurde geprüft.

Name 01 Straße/Nr PLZ/Ort Geburtsdatum Geburtsort Staatsangehörigkeit Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Legitimation der Bevollmächtigten

Name 02 Straße/Nr PLZ/Ort Name 03 Straße/Nr PLZ/Ort Name 04 Straße/Nr PLZ/Ort Name 05 Straße/Nr PLZ/Ort Name 06 Straße/Nr PLZ/Ort Name 07 Straße/Nr PLZ/Ort Geburtsdatum Geburtsort Staatsangehörigkeit Geburtsdatum Geburtsort Staatsangehörigkeit Geburtsdatum Geburtsort Staatsangehörigkeit Geburtsdatum Geburtsort Staatsangehörigkeit Geburtsdatum Geburtsort Staatsangehörigkeit Geburtsdatum Geburtsort Staatsangehörigkeit Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Page 10 of 42

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Account/deposit power of attorney

for multiple persons

Page 4 of 4

31.100 en – as of July 2012

Name 08 Straße/Nr PLZ/Ort Geburtsdatum Geburtsort Staatsangehörigkeit Persönlich PostIdent Ausweisnr. Ausgestellt am/von Gültig bis Datum Bearbeitungs-hinweis Unterschrift/ Sachbearbeiter Page 11 of 42

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Portfolio account/deposit power of attorney

for an external portfolio manager

Page 1 of 3

32.300 en – as of December 2013

Explanation of the term “portfolio”: At Baader Bank, a client’s accounts and deposits are consolidated within a portfolio. One or more portfolios are in turn allocated a client serial number.

Powers of attorney are specified by the client at the portfolio level. For the entire business relationship

For an individual portfolio

For all portfolios under one serial number

Note: please return the signed original power of attorney.

1 Information regarding the account holder(s)

Surname First name Address Postcode City

Surname First name Address Postcode City City, postcode Telephone number Company name Address

2 Empowerment

I/We hereby empower the external portfolio manager named below:

Baader Bank Aktiengesellschaft

Customer Service

Weihenstephaner Strasse 4

85716 Unterschleissheim

Germany

to represent me/us in the context of business dealings with Baader Bank Aktiengesellschaft. This power of attorney shall apply with respect to all of my/our existing and future accounts/deposits under the client serial number/portfolio number indicated below:

Portfolio number Client serial number

The empowered external portfolio manager holds a financial portfolio management licence under supervisory law in accordance with Article 1, Section 1a, Phrase 1, No. 3 of the German Banking Act (KWG) or a comparable EU/EEA financial services licence. He/She is empowered to avail himself/herself of the relevant credit balances and financial instruments in the above-mentioned portfolio in such a way that he/she can issue orders and instructions (dispositions) with respect to Baader Bank Aktiengesellschaft (hereinafter referred to as the “Bank”).

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Portfolio account/deposit power of attorney

for an external portfolio manager

Page 2 of 3

3 Regulations

The power of attorney includes the following actions*:

- Management of the assets in the above-mentioned portfolio as well as disposal of the credit balances and overdraft facilities granted to this portfolio without first obtaining instructions from the account/deposit holder(s) at his/her own discretion, and representation with respect to third parties

- Settlement of transactions in any kind of financial instruments inclu-ding option certificate transactions

- Provision of securities (margin obligations) for these transactions - Receipt, checking and acknowledgement of statements regarding the

purchase, sale or exchange/regrouping of financial instruments - Receipt, checking and acknowledgement of account/deposit

state-ments

- Receipt, checking and acknowledgement of - Statements of earnings and other statements - Deposit transfers

- Yield distributions

- Portfolio summaries with total and individual evaluation of the items - Lists of transactions

- Summaries of interim profits as well as ordinary yields - Miscellaneous:

* Please tick boxes as appropriate.

The power of attorney does NOT confer entitlement to:

- Open additional accounts/deposits

- Carry out dispositions in favour of third parties

- Carry out dispositions in favour of the authorised representative, with the exception of the reimbursement of fees and costs to which the authorised representative is contractually entitled. The Bank shall not be obligated to check the correctness of these accounts

- Carry out credit transfers, insofar as these are not directly linked to the actions covered by the power of attorney. The authorised representative may, however, organise such credit transfers and transfers of securities, which are effected in favour of the account/deposit holder(s) to his/her/ their own accounts and deposits, including those at external financial institutions

- Borrow for the purposes of purchasing financial instruments

- Procure proprietorship or ownership of monies or other financial instruments of the account/deposit holder(s)

- Amend the reference account of the account/deposit holder(s) which is deposited at the Bank

- Pledge the account/deposit

- Issue substitute powers of attorneys or transfer this power of attorney to third parties

- Miscellaneous:

I/We know that the authorised representative is not an agent of the Bank and does not have any authorisation to make any declarations having an effect for or against the latter. Accordingly, the account/deposit holder(s) may not derive any claims whatsoever against the Bank, irrespective of the legal ground thereof, from the activities carried out by the authorised representative for them or the declarations made.

This power of attorney shall enter into force on submission of the completed, signed power of attorney document to the Bank and shall apply until such time as the Bank receives a revocation thereof. In the case of several account holders, the revocation of the power of attorney by one of the account holders shall result in the cancellation of this power of attorney. The power of attorney is to be revoked in writing.

The power of attorney shall not be cancelled upon the death of the account holder(s); it shall remain in force with respect to the heirs of the deceased account holder in question.

Should one of several joint heirs revoke the power of attorney, the authorised representative shall only be able to represent those joint heirs who have not revoked his/her power of attorney. In this case, the authorised representative shall only be able to avail himself/herself of the power of attorney conjointly with the revoking party. The Bank shall be entitled to require the revoking party to prove that he/she is an heir.

Declarations of the account/deposit holder(s) and the authorised representative:

- The Bank is not responsible for ensuring that the bank account indicated in the case of an availment is in the name of the account/deposit holder(s) and shall not check this; this risk shall be borne by the account/deposit holder(s)

- The Bank does not assume any liability for ensuring that the authorised representative is authorised to carry out the functions of an external portfolio manager, and shall not check this. Regarding transactions involving financial instruments, the knowledge and experience of the external portfolio manager is assigned to the account/deposit holder(s). The external portfolio manager engaged by the account/deposit holder(s) holds a financial portfolio management licence under supervisory law in accordance with Article 1, Section 1a, Phrase 1, No. 3 of the German Banking Act (KWG) or a comparable EU/EEA financial services licence - The authorised representative shall conduct the asset management

exclusively and on his/her own responsibility and shall carry out transactions regarding the financial instrument credit balance of the account/deposit holder(s), within the framework of this power of attorney. In connection with this, the authorised representative shall obtain information from his/her client(s) regarding their experience and knowledge of trading in financial instruments, regarding the objectives pursued with the transactions and regarding their financial circumstances, and shall notify the account/deposit holder(s) of all the expedient information, inasmuch as this is required to protect the interests of the account/deposit holder(s) and with respect to the nature and extent of the intended transactions

- It is pointed out that the authorised representative provides consultancy services and explains the risks, and the Bank exclusively carries out the transactions effected by the authorised representative and does not provide any consultancy services (“execution only”, non-consultation services). The Bank shall not be liable for the breach of any existing duties of information of the authorised representative within the framework of explanations regarding the intended transactions, e.g. of the risk of considerable losses

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Portfolio account/deposit power of attorney

for an external portfolio manager

Page 3 of 3

- The account/deposit holder(s) has/have notified the authorised representative of his/her/their investment objectives, taking account of his/her/their financial circumstances

- The account/deposit holder(s) know(s) that the Bank does not carry out any controlling operations, in particular regarding the observance of duties to provide information and explanations. In the event of orders being issued by the authorised representative, these shall only be checked for compliance with this power of attorney, but not regarding the observance of any investment guidelines or strategies of the account/ deposit holder(s)

- The authorised representative has been instructed by the account/deposit holder(s). He/She was not provided through the agency of the Bank. The account/deposit holder(s) know(s) that the Bank cannot assume any liability whatsoever for the authorised representative fulfilling his/her duties to advise and look after the account/deposit holder(s) properly. The latter know(s) that the authorised representative is not an agent of the Bank and does not have any authorisation to make or receive any declarations for or against the Bank

- The use by authorised representatives of any electronic means of accessing accounts/deposits (for example, telephone banking or online banking facilities) shall be subject to the conclusion of a separate agreement between the Bank and the account holder(s) to that effect. Place, date Signature/ Company stamp Place, date Signature/ Company stamp Place, date Signature of external portfolio manager/ Company stamp

The external portfolio manager confirms that it has provided the account/deposit holder(s) with all of the information and explanations required in accor-dance with the German Securities Trading Act.

Place, date

Signature of external portfolio manager/ Company stamp

Legitimation des Bevollmächtigten Durch Vorlage eines gültigen Ausweises Ausweisnr. Ausgestellt am/von Unterschrift/ Sachbearbeiter Datum Bearbeitungs-hinweis Gültig bis Staatsangehörigkeit Die Übereinstimmung der Unterschrift des Bevollmächtigten mit dem Ausweisdokument bestätigt Unterschrift Sachbearbeiter

Legitimationsprüfung des Bevollmächtigten liegt bereits vor.

Signature Signature

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Page 1 of 1

42.221 en – as of January 2015

Note regarding the scope of deposit protection

The Bank is a member of the Deposit Protection Fund of the Association of German Banks (Einlagensicherungsfonds des Bundesverbandes deutscher Banken e.V.) and the Compensation Scheme of German Banks (Entschädigungseinrichtung deutscher Banken GmbH). This means that all liabilities that are required to be shown in the balance sheet item “Liabilities to customers” are protected. Among these are demand, term and savings deposits, including registered savings certificates. The protection ceiling for each creditor is, until 31 December 2019, 20%, until 31 December 2024, 15% and, as of 1 January 2025, 8.75% of the liable capital of the Bank relevant for deposit protection. Deposits established or renewed after 31 December 2011 shall be subject to the respective new protection ceilings as of the aforementioned dates, irrespective of the time when the deposits are established. Deposits established before 31 December 2011 shall be subject to the old protection ceilings until maturity or until the next possible withdrawal date.

The applicable protection ceiling shall be notified to the customer by the Bank on request. It is also available on the Internet at www.bankenverband.de. Not protected are liabilities in respect of which the Bank has issued bearer instruments, e.g. bearer bonds and bearer certificates of deposit, as well as liabilities to banks.

Protection of liabilities arising from investment business

Irrespective of the Bank’s liability in the event that, contrary to its duties, it is unable to return securities belonging to the customer and compensation is payable, a claim for compensation may also be filed against the Compensation Scheme of German Banks. The amount of the claim for compensation against the Compensation Scheme of German Banks is limited to 90 per cent of the value of these securities, but to not more than the equivalent of EUR 20,000.

My attention has been drawn to the fact that bearer instruments issued by the Bank are not covered by any form of deposit protection.

Place, Date Signature/ Company stamp Place, Date Signature/ Company stamp

Baader Bank Aktiengesellschaft

Customer Service

Weihenstephaner Strasse 4

85716 Unterschleissheim

Germany

Signature Signature Page 15 of 42

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Page 1 of 2

44.100 en – as of November 2012

Agreement on the execution of

orders/instructions placed electronically

The following agreement is herewith concluded at the express and exclusive request of the account/securities account holder between

Surname First name

hereinafter referred to as the “client” and

Baader Bank Aktiengesellschaft, Weihenstephaner Strasse 4, 85716 Unterschleissheim, Germany hereinafter referred to as the “Bank”:

1. The client wishes to transmit orders/instructions to the Bank (e.g. credit transfers, account transfers) electronically (by fax or as a scanned order/instruction via e-mail).

2. The client herewith declares that he/she is aware of the possibility of misuse arising in the transmission of orders/instructions placed electronically, for example in the form of forgery and falsification by means of shadeless copying, forgery of signatures or changes to the original document. The client undertakes to ensure that no transmission errors, misunderstandings, misuse or mistakes take place when placing an order/instruction electronically. The Bank is is neither able to check the authenticity of orders/instructions received electronically nor to verify the conformity thereof with the original document. Nevertheless, the client requests the Bank to accept orders/instructions issued electronically for implementation or forwarding subject to the following conditions:

3. The Bank draws the client’s attention to the following non-exhaustive list of risks that can occur during the transmission of orders/instructions by e-mail:

• Orders/instructions transmitted by e-mail may be intercepted and viewed by unknown third parties, processed, destroyed and, possibly, used for criminal purposes. This may take place – without being detected – for an undefined period of time.

• The authenticity of the sender (=client) is not guaranteed in the case of orders/instructions transmitted by e-mail.

• E-mails may not be sent or their transmission delayed due to possible technical problems, or they may not be received by the intended recipient due to other reasons (e.g. so-called spam filters).

For more information regarding Internet safety, visit the following websites:

www.bsi-fuer-buerger.de and www.polizei-beratung.de

4. The client must immediately notify the Bank, if he/she suspects that his/ her electronically placed orders/instructions are being intercepted and viewed, processed, destroyed or possibly used for criminal purposes by unknown third parties.

5a. The placement of general fax orders/instructions (e.g. credit transfers, account transfers) with the Bank must in all cases be made via the following fax number:

+49 89 5150 2442

5b. The placement of general orders/instructions in the form of a scanned document attached to an e-mail (e.g. credit transfers, account transfers) with the Bank must in all cases be made via the following e-mail address: service@baaderbank.de

6. The placement of orders/instructions by fax (orders for the purchase or sale of a financial instrument) with the Bank must in all cases be made via the following fax number:

+ 49 89 5150 1920

7. This declaration shall apply to all accounts and securities accounts held now and in the future at the Bank by the client.

8. The client undertakes to ensure that the original documents used for transmitting orders/instructions electronically are signed before transmission according to the mandates authorising drawings and dispositions as regulated in the account documents.

9. The Bank reserves the right in individual cases to request the client’s immediate confirmation before passing on an order/instruction, but shall be under no obligation to do so. To the legally admissible extent, delays arising in such cases shall not entitle the client to assert any claims for damages or similar demands. If the

Baader Bank Aktiengesellschaft

Customer Service

Weihenstephaner Strasse 4

85716 Unterschleissheim

Germany

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Page 2 of 2

44.100 en – as of November 2012

Agreement on the execution of orders/instructions placed electronically

client cannot be contacted, the Bank shall not execute the order/ instruction transmitted electronically. The client is to indicate a fax and telephone number for any enquiries regarding the orders/ instructions transmitted electronically (please add the name of the respective contact, if multiple phone numbers are indicated):

Telephone number Fax number

10. The client shall give the Bank immediate notification of any change of telephone or fax number.

11. The Bank shall endeavour to execute orders/instructions transmitted electronically promptly. The Bank cannot, however, guarantee prompt execution of orders/instructions transmitted electronically. To the legally admissible extent, this shall not entitle the client to assert any claims for damages or similar demands.

12. The client undertakes to place only those orders/instructions electronically, in connection with which no individual advisory services, suggestions or recommendations on the part of the Bank are necessary or desired. To the legally admissible extent, this means that the client shall bear any and all risks relating to the implementation of orders/ instructions placed and any and all financial disadvantages which might arise from them.

13. The client must immediately notify the Bank if he/she suspects that his/ her e-mails are being intercepted and viewed, processed, destroyed and, possibly, used for criminal purposes by third parties. In this case, the Bank shall, if necessary, be obligated in accordance with Article 42a of the Federal Data Protection Act [Bundesdatenschutzgesetz] to inform the supervisory authority responsible for data protection and any parties concerned. The client shall be liable to the Bank for any costs incurred in connection therewith.

14. The Bank is entitled to debit the client/securities account even if the signatures on the orders/instructions transmitted electronically are forged. The client shall bear any losses or damage sustained unless caused by the Bank. We draw specific attention to Bank’s General Terms and Conditions of Business and the Terms and

conditions for credit transfers. To the legally admissible extent, the Bank shall be released from any and all liability and, above all, third-party claims for damages/compensation arising from or in connection with improper use of the aforementioned transmission system; in particular any forging of signatures or other form of forgery or falsification of the original documents.

15. There is the potential risk that, in the case of orders/instructions transmitted electronically, the provisions of the Federal Data Protection Act and banking secrecy in accordance with Section 2.1 of Bank’s General Terms and Conditions of Business may be breached. The Bank shall not be liable for any damages arising as a result thereof, except in the event of damage being caused intentionally or by gross negligence. This limitation of liability shall not apply to personal injury, injuries to health or loss of life which can be attributed to the Bank.

16. The Bank shall, where applicable and justified, be entitled not to accept orders/instructions placed electronically.

17. Due to potential technical problems, the client is aware that e-mails are not suitable for transactions that must be executed by a deadline, for example credit transfers.

18. The Bank shall not be liable for any damages or losses caused by computer viruses contained in files transmitted via e-mail by the client, except in the event of damage being caused intentionally or by gross negligence.

19. None of the aforementioned limitations of liability shall apply to personal injury, injuries to health or loss of life which can be attributed to the Bank.

20. Changes to or revocation of this agreement must be made in writing in order to be legally valid.

Despite the risks outlined above and the Bank’s exclusions of liability, the client wishes to send orders/instructions by fax or as scanned orders/ instructions via e-mail to the Bank.

Place, date Signature/ Company stamp Signature/ Company stamp Place, date Signature of Bank

Ort, Datum Unterschrift Sachbearbeiter Legitimation, Unterschrift geprüft

Name

Signature Signature

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Important information

regarding loss risks in the case of financial futures transactions

Page 1 of 2

Baader Bank Aktiengesellschaft

* Toll-free from (inter)national landline networks. Charges may apply from other networks. For internal use by the bank

53.100 en – as of April 2011

Baader Bank Aktiengesellschaft

Customer Service

Weihenstephaner Strasse 4

85716 Unterschleissheim

Germany

1 Basic points regarding loss risks in the case

of financial futures

We would like to inform you about the following risks: Lapse or depreciation

The rights which you acquire from financial futures may lapse or depreciate, because these transactions always procure only limited rights. The shorter the period, the greater your risk may be.

Incalculable losses

It may not be possible to determine your risk of losses in the case of liabilities arising from financial futures. It may also include other assets in excess of the securities provided by you.

Lack of hedging possibilities

Transactions, with which the risks from the financial futures transactions entered into (liquidation transactions) are intended to be excluded or restricted, may possibly not be enacted, or only enacted at a loss-incurring market price.

Additional potential for losses in the event of borrowing or resulting from fluctuations in exchange rates

Your risk of losses increases if you utilise credit for your financial futures transaction. The same applies to a financial futures transaction where your obligations or claims are in a foreign currency or unit of account.

2 The risks for the individual types of transactions

2.1 Purchase of options

2.1.1 Purchase of an option on an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities)

The transaction: when you purchase options on an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities), you acquire the right to deliver or accept the underlying asset at the price which is already fixed at the time of purchasing the option. Your risk: a price change in the underlying asset, that is e.g. the share which is the basis of your option as the subject matter of the contract, can reduce the value of your option. Price losses of the underlying subject matter of the contract will result in depreciation in the case of an option to buy (call);

price gains of the underlying subject matter of the contract will result in depreciation in the case of an option to sell (put). If depreciation does occur, this always occurs disproportionately to the price change of the underlying asset, and can even result in your option becoming totally worthless. However, your option may also decline in value, not as a result of changes in the price of the underlying asset, but rather because the value of your option is also determined by other factors that determine its price (e.g. maturity or the frequency and intensity of price fluctuations of the underlying asset). Due to the limited maturity of an option, you cannot rely on the price of the option recovering in time. Should the market not develop as you expected and you therefore choose not to exercise your option or neglect to exercise it, your option becomes worthless when it expires. Your loss would then be the price paid for the option plus your related costs.

2.1.2 Purchase of an option on financial futures contracts

The transaction: when purchasing an option on a financial futures contract you acquire the right to conclude a contract under pre-specified conditions. This requires you to purchase or sell an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities) at a specified time.

Your risk: the risks outlined in Section 2.1.1 above are also associated with these options. New risks come into play, however, when you exercise the option. These risks are determined by the financial futures contract that exists at that point in time and can far exceed your original investment – that is the price you paid for the option. Thus, you will additionally encounter the risks described below for the financial futures with performance at a specified time.

2.2 Sale of options and financial futures with performance at a specified time

2.2.1 Sale at a specified time and sale of an option to buy on an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities)

The transaction: as a vendor at a specified time, you incur the obligation to supply an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities) at a specified price. As the vendor of an option to buy, this obligation only affects you when the option is exercised.

Your risk: if the market prices increase, you nevertheless have to supply at the previously stipulated price, which can then be very considerably below Dear Client,

In the case of financial futures, the chances of profits are opposed by a high loss exposure. Any investor wanting to enter into a financial futures transaction must first be informed of the risks involved in financial futures.

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Important information

regarding loss risks in the case of financial futures transactions

Page 2 of 3

53.100 en – as of April 2011

the current market price. If the object of the agreement which you have to supply is already in your possession, you will no longer benefit from increasing market prices. If you do not want to acquire it until a later date, the current market price may be considerably above the price stipulated in advance. Your risk is in the price difference. This risk of losses cannot be determined in advance, i.e. it is theoretically unlimited. It can far exceed the securities provided by you if you do not own the delivery item, but only want to cover your requirements on maturity. In this case, you can incur considerable losses since you may, of course, have to buy at very high prices depending on the market situation, or you may have to make equalisation payments, if you are unable to cover your requirements. Note: it is true that if the object of the agreement that you have to supply is in your possession, you are protected from losses connected with covering your requirements. If, however, these assets are kept wholly or partially blocked (as securities) for the duration of your financial futures transaction, you cannot avail yourself of these during this period or up until the liquidation of your futures contract, nor can you sell the assets in order to avoid losses in the event of falling market prices.

2.2.2 Purchase at a specified time and sale of a put option on an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities).

The transaction: as a purchaser at a specified time or as a seller of a put option, you enter an obligation to accept an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities) at a stipulated price.

Your risk: even in the event of falling market prices, you have to accept purchased asset at the agreed price, which, in some cases, may then be considerably higher than the current market price. Your risk lies in the difference. This risk exposure cannot be determined in advance and can be far in excess of the securities provided by you. If you intend to immediately resell these assets following acceptance, you should note the fact that you may not find a buyer at all or may only find a buyer with difficulty; depending on the market development it may only be possible to sell at a considerably reduced price.

2.2.3 Sale of an option on futures contracts

The transaction: upon selling an option on a futures contract, you enter an obligation to conclude a contract under pre-specified conditions, which requires you to purchase or sell an underlying asset (e.g. securities, interest, indices, foreign currencies, precious metals or commodities) at a specified time.

Your risk: if the option sold by you is exercised, you run the risk of a seller or purchaser at a specified time, as described under Subsections (1) and (2) of Section 2.

2.3 Option and futures contracts with difference equalisation

The transaction: in the case of some financial futures, cash equalisation alone takes place. This concerns in particular:

• Option or financial futures contracts on an index, i.e. on a changing variable, which is calculated from an inventory of securities stipulated in accordance with particular criteria and the changes of which reflect the market price movements of these securities

• Option or financial futures contracts on the interest rate for a fixed deposit with a standardised duration

Your risk: should your expectations not be fulfilled, you have to pay the difference between the market price that was taken as the basis on the conclusion of the contract and the current market price on the maturity of the transaction. This difference constitutes your loss. The maximum amount of your loss cannot be determined in advance. It can far exceed any securities provided by you.

3 Additional risks arising from financial futures

3.1 Financial futures with a currency exchange risk

The transaction: if you enter into a financial futures transaction in which your obligation or the counter-performance to be claimed by you is in a foreign currency or unit of account, or if the value of the subject matter of the contract is determined according to this (e.g. in the case of gold), you are exposed to an additional risk.

Your risk: in this case your risk of losses is not only linked to the development in value of the underlying object of the agreement. Rather, developments on the foreign exchange market may be the cause of additional incalculable losses: fluctuations in exchange rates can:

• Reduce the value of the acquired option

• Increase the price of the object of the agreement that you have to supply to fulfil the financial futures transaction, if it is to be paid in a foreign currency or a unit of account. The same applies to an obligation to pay resulting from a financial futures transaction that you have to fulfil in a foreign currency or unit of account

• Reduce the value or the sales proceeds of the object of the agreement to be accepted under the financial futures transaction or the value of the payment received

3.2 Risk-excluding or risk-limiting transactions

Do not rely on the fact that you will be able to conclude transactions that will enable you to compensate for or limit your risks resulting from financial futures transactions at any time during the term. Whether this is possible depends on the market circumstances and also on the form of your respective financial futures transaction. It is possible that you may not be able to effect an appropriate transaction or only be able to do so at an unfavourable market price, so that you incur a loss. 3.3 Utilisation of credit

Your risk will increase if you use a line of credit to finance, in particular, the purchase of options or the performance of your obligations to supply or pay resulting from financial futures transactions. In this case, if the market does not develop as you expect, you will not only have to accept the loss incurred, but you will also have to repay your credit, including interest. Never rely on being able to pay interest on, and repay, the credit from the profits of the financial futures transaction, but properly assess your financial means prior to concluding the transaction in order to establish whether you will be able to pay interest on the credit and, if necessary, redeem the credit at short notice if, instead of the expected profits, you incur losses. 3.4. Risk of insolvency of the Clearing Member

Please note that the Bank uses the services of a Clearing Member for the execution of financial futures transactions; this Clearing Member generally executes the client’s transactions in its own name and for the account of the Bank. A Clearing Member is an institution having a clearing licence to participate in the clearing system for transactions involving securities and derivatives or transactions relating to share-issue rights.

The security to be furnished by the Bank to the respective Clearing Member, whose services are used for executing clients’ orders within the framework of financial futures transactions, is regarded within the relationship of the Bank with said Clearing Member as necessary expenses which the Bank, in its capacity as commission agent within the framework of the commission transaction in question, is obligated to effect.

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Important information

regarding loss risks in the case of financial futures transactions

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53.100 en – as of April 2011

Should the respective Clearing Member become insolvent as per the German Insolvency Act (Insolvenzordnung) or as per the insolvency procedure under the law of the country in which the Clearing Member has its registered office, you will then be obligated to reimburse the Bank for such necessary expenses in terms of the aforementioned security to be furnished to the Clearing Member in question. This claim to reimbursement of expenses shall generally be restricted to the amount of said security, and shall fall due for payment to the Bank by you at the beginning of the trading day following the date on which the solvency proceedings commence. The amount to be reimbursed shall be invoiced in the event of insolvency as soon as it has been determined.

A list of the Clearing Members of whose services the Bank currently makes use for the execution of financial futures transactions can be accessed in the closed clients’ zone at the Bank’s website under www. baaderbank.de.

Please note that you are not entitled to have your transactions executed for you by a particular Clearing Member and that the Bank may at any time terminate the cooperation with a Clearing Member or additionally commission new Clearing Members with the execution of transactions in financial instruments.

4 Confirming in writing in securities

The risks arising from the transactions described above do not change if the rights and obligations are confirmed in writing in a security (e.g. option certificate).

If you wish to conclude financial futures transactions, you must sign this information sheet.

Place, date Signature/ Company stamp Place, date Signature/ Company stamp Signature Signature Page 20 of 42