Client Risk Disclosure Statement

General Investment Risks

Investing involves risk of loss, including possible loss of principal.

Market values fluctuate and may decline for numerous reasons including economic, market, geopolitical, regulatory, or issuer-specific events.

No Guarantee of Performance

Past performance is not indicative of future results. Future performance may differ materially.

Suitability & Investor Responsibility

Investment suitability depends on individual circumstances including:

• Risk tolerance
• Financial objectives
• Investment horizon
• Liquidity needs
• Regulatory classification

Clients are responsible for carefully evaluating investment decisions and seeking independent legal, tax, and financial advice.

Market & Liquidity Risk

Certain instruments may be illiquid or subject to trading restrictions.

Prices may be volatile and markets may not always have buyers or sellers at desired prices.

Leverage & Complex Instruments

Use of leverage, derivatives, structured products, private investments, or alternative asset classes may be speculative and carry enhanced risk.

Regulatory & Legal Risk

Changes in laws, regulations, tax policies, or market rules may adversely affect investments.

Counterparty & Custody Risk

Certain transactions involve reliance on third-party custodians, counterparties, or clearing agents.

Failure of such entities may result in losses.

Client Acknowledgment

By engaging in investment activities, clients acknowledge acceptance of risk and responsibility for investment outcomes.