APPLICABLE RISK AND SPECIFIC COUNTRY DISCLOSURES

Investors investing in investments and/or treasury products denominated in foreign (non-local) currency should be aware of the risk of exchange rate fluctuations that may cause loss of principal when foreign currency is converted to the investors’ home currency. Investors investing in funds denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal.

The risks set out here are not, and are not intended to be, a complete list of all risks and considerations relevant to investments, products and services or any decision to purchase or sell an investment, a product or avail of a service. All applications for investments, products and services are subject to Terms and Conditions of the individual investment product and its service. Citi does not provide continuous monitoring of existing customer holdings.

"Citi analysts" refers to investment professionals within Citi Research ("CR"), Citi Global Markets Inc. ("CGMI") and voting members of the Citi Global Investment Committee. Citibank N.A. and its affiliates/subsidiaries provide no independent research or analysis in the substance or preparation of this video/webcast/article. The information in this video/webcast/article has been obtained from reports issued by CGMI. Such information is based on sources CGMI believes to be reliable. CGMI, however, does not guarantee its accuracy and the same may be incomplete or condensed. All opinions and estimates constitute CGMI's judgment as of the date of the video/webcast/article and are subject to change without notice.

Citi Research ("CR") is a division of Citigroup Global Markets Inc. (the "Firm"), which does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider research reports as one amongst other factors in making their investment decision.

Specific Country Disclosures:

Australia: This video/webcast/article is distributed in Australia by Citigroup Pty Limited ABN 88 004 325 080, AFSL 238098. For a full explanation of the risks of investing in any investment, please ensure that you fully read and understand the relevant Product Disclosure Statement prior to investing.

Bahrain: This video/webcast/article is distributed in Bahrain by Citibank, N.A., Bahrain. Citibank, N.A., Bahrain, may in its sole and absolute discretion provide various materials relating to the securities for information purposes only. Citibank, N.A., Bahrain is licensed by the Central Bank of Bahrain (CBB) as a Conventional Retail Bank and is bound by the CBB’s regulations and licensing conditions with regards to products and services provided by Citibank, N.A. Bahrain. These terms are governed by and shall be construed in accordance with the laws of the Kingdom of Bahrain. The Customer irrevocably agrees that the civil courts in Bahrain shall have non-exclusive jurisdiction to hear and determine any suit, action or proceeding and to settle any disputes which may arise out of or in connection with these Terms and Conditions and for such purposes the Customer irrevocably submits to the jurisdiction of such courts. Investment products are not insured by the government or governmental agencies.

Hong Kong: This video/webcast/article is distributed in Hong Kong by Citibank (Hong Kong) Limited. Prices and availability of financial instruments can be subject to change without notice. Certain high-volatility investments can be subject to sudden and large decreases in value that could potentially equal the total amount invested.

India: The products, views and the content in the video/webcast/article may not be applicable and/or available in all jurisdictions. Please refer to the Bank’s website in the respective country for specific details or contact your relationship manager. Citibank N.A. India does NOT provide investment advisory service, but only distributes third party investment products. 

Indonesia: This video/webcast/article is made available in Indonesia through Citibank N.A., Indonesia Branch. Citibank N.A., Indonesia is a bank that is licensed, registered and supervised by the Indonesia Financial Services Authority (OJK).

Korea: This video/webcast/article is distributed in South Korea by Citibank Korea Inc. Investors should be aware that investment products are not guaranteed by the Korea Deposit Insurance Corporation and are subject to investment risk including the possible loss of the principal amount invested. Investment products are not available to US persons.

Malaysia: This video/webcast/article is distributed in Malaysia by Citibank Berhad. Investors should be aware that investment products are not protected or insured by Perbadanan Insurans Deposit Malaysia (PIDM) or any government agency and are subject to investment risks, including the possible loss of the principal amount invested. Investment products are not available to US Persons.

People's Republic of China: This video/webcast/article is distributed by Citibank (China) Co., Ltd in the People's Republic of China (excluding the Special Administrative Regions of Hong Kong and Macau, and Taiwan). Investors should be aware that the local mutual funds and insurance products are issued and managed by the relevant fund houses and insurance companies, and Citibank (China) Co., Ltd. shall not be held liability for any product investment, payment and risk management arising from its distribution of the local mutual funds and insurance products to the investors.

Philippines: This video/webcast/article is made available in Philippines by Citicorp Financial Services and Insurance Brokerage Phils. Inc., and Citibank N.A., Philippine Branch. Investors should be aware that investment products are not deposits, not guaranteed, not insured by the Philippine Deposit Insurance Corporation or the Federal Deposit Insurance Corporation or any other government entity and may lose value.

Poland: Investment products and unit-linked insurance products ("Products") are not a deposit, obligation nor are guaranteed by Bank Handlowy w Warszawie S.A. or by any of Citigroup subsidiaries or affiliates, except for the investment products issued or guaranteed by Bank Handlowy w Warszawie S.A. or a subsidiary or affiliate of Citigroup. For investment products, capital protection and/or an interest guarantee scheme, if applicable, is the responsibility of the issuer of a given investment product. Products offered by the Bank are not guaranteed by the State Treasury, the Bank Guarantee Fund (except for the receivables from deposit certificates and dual currency investments subject to obligatory monetary fund guarantee scheme according to the Act on Banking Guarantee Fund, deposit guarantee scheme and obligatory restructuring dated June 10, 2016) nor by any other government institution. Amounts receivable from an insurance agreement are secured by the Insurance Guarantee Fund in the scope referred to in the Act on obligatory insurance, Insurance Guarantee Fund and Polish Motor insurers’ Bureau dated May 22, 2003. This means that if the Insurer becomes insolvent in the cases as defined under the above Act, the Insurance Guarantee Fund shall cover in part the claims of beneficiaries under the life insurance contracts, in the amount of 50% of the claims but not more than up to the Polish zloty equivalent of EUR 30 000.00.

Singapore: This video/webcast/article is distributed in Singapore by Citibank Singapore Limited. Investment products are not insured under the provisions of the Deposit Insurance and Policy Owners’ Protection Schemes Act of Singapore and are not eligible for deposit insurance coverage under the Deposit Insurance Scheme.

Thailand: This video/webcast/article contains general information and insights distributed in Thailand by Citigroup and are made available in English language only. Citi does not dictate or solicit investment in any specific securities and similar products.

UAE: This video/webcast/article is distributed in the United Arab Emirates by Citibank, N.A. UAE.

United Kingdom: This video/webcast/article is distributed by Citibank Europe Plc, UK Branch and Citibank N.A., London Branch.

Citibank Europe Plc is authorised by the Central Bank of Ireland and by the Prudential Regulation Authority.  It is subject to supervision by the Central Bank of Ireland, and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority.  Details about the extent of our authorisation and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request. Citibank Europe plc, UK Branch is registered as a branch (registration number FC032763) in the register of companies for England and Wales. The registered address in the UK is Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Citibank Europe plc is registered in Ireland with number 132781, with its registered office at 1 North Wall Quay, Dublin 1. Citibank Europe plc is regulated by the Central Bank of Ireland.  Ultimately owned by Citigroup Inc., New York, USA.

 

Citibank N.A., London Branch is authorised and regulated by the Office of the Comptroller of the Currency (USA) and authorised by the Prudential Regulation Authority.  Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority.  Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Our firm reference number with our UK regulators is 124704. Citibank N.A., London Branch is registered as a branch in the UK at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Registered number BR001018. Citibank N.A. is incorporated with limited liability in the USA. Head office: 388 Greenwich Street, New York, NY 10013 © Citibank N.A. 2017. CITI, CITI and Arc Design are registered service marks of Citigroup Inc.

Jersey: This video/ webcast/article is distributed by Citibank N.A., Jersey Branch.  Citibank N.A., Jersey Branch is regulated by the Jersey Financial Services Commission. Citi International Personal Bank is registered in Jersey as a business name of Citibank N.A. The address of Citibank N.A., Jersey Branch is P.O. Box 104, 38 Esplanade, St Helier, Jersey JE4 8QB. Citibank N.A. is incorporated with limited liability in the USA. Head office: 388 Greenwich Street, New York, NY 10013. © Citibank N.A. 2017. CITI, CITI and Arc Design are registered service marks of Citigroup Inc.

Vietnam: This video/webcast/article is distributed in Vietnam by Citibank, N.A., Ho Chi Minh City Branch and Citibank, N.A. Hanoi Branch, both of which are licensed foreign bank branches regulated by the State Bank of Vietnam.