FOR INSTITUTIONAL USE ONLY; FOR PROFESSIONAL CLIENTS AND ELIGIBLE COUNTERPARTIES ONLY. This material and its contents (collectively, this Material) is for informational purposes only and does not constitute an offer, solicitation, invitation or inducement to purchase, acquire, subscribe to, provide or sell any financial instrument. Nor does the Material constitute or form part of any advice, invitation, solicitation or inducement to engage in any investment activity except as permitted under relevant local laws and regulations. Please see additional important disclosures, including disclosures that may be relevant to your country of residence or business, below, or specific financial instruments: US Options; US Listed ETPs.

The Material is not intended as and does not constitute investment research. Before taking any action based on the Material, you should determine whether it is suitable for your particular circumstances or investment objectives and you should seek professional advice, if necessary. To the extent this material refers to derivatives this material may constitute an invitation to consider entering into derivatives transactions under CFTC Rules 1.71 and 23.605, but in no case services as a binding offer to buy or sell any instrument or enter into any transaction. Citadel Securities does not provide tax, accounting, or legal advice and the information provided in the Material should not be construed as such. You should consult your own tax, accounting, or legal advisors.

The persons who prepared the Material are employees of Citadel Securities, a next-generation capital markets firm and leading global market-maker. Citadel Securities’ trading businesses may make investments and hold positions that are either consistent with or contrary to the views expressed in the Material. Accordingly, the views expressed in the Material are not independent from Citadel Securities’ interests, and they may be inconsistent with your interests.

Although the Material is based on information that we consider to be reliable, information included in the Material may change at any time for any reason and without notice. Citadel Securities does not make any undertaking to update the information in the Material in the event such information changes or becomes aged. The Material is strictly confidential, contains Citadel Securities proprietary information and/or other information protected by intellectual property laws. As such, the Material may not be disclosed to any person other than those for whom it is intended and must not be copied, distributed, or redistributed, in whole or in part, without the prior written consent of Citadel Securities.

All trademarks, services marks, and logos used in this material are trademarks or service marks or registered trademarks or registered service marks of Citadel Enterprise Americas LLC.

Americas

Argentina

The information contained in this Material is not intended to specifically address Argentine residents. Citadel Securities is not registered as an issuer or as an authorized capital market agent in Argentina, and it has no offices, no physical address, no other local contact information, and no payment collection services in Argentina. Any offering of securities that may be contained in this Material to which Argentine residents may have access or in which they may qualify to participate must be considered as an offering of securities without sufficient contact with the republic of Argentina in terms of Section iii, Chapter i, Title xx of the Rules of the National Securities Commission of Argentina (CNV), as may be amended, and, as such, it is not subject to the CNV’s general and periodic reporting and supervisory regimes. The CNV has not issued any opinion with respect to the data contained in any documents of any offering contained in this material or with respect to the truthfulness of any accounting, financial or economic information, or of any other information, provided in such documents, all of which is of the exclusive responsibility of the issuer and other intervening subjects. The possibility to participate in any such offering may be limited to certain qualified or institutional investors and/or to persons having verified access as registered users in Citadel securities or its Affiliates. Before making any investment decision, it is crucial to consult with a professional financial, legal, accounting and/or economic advisor that is duly qualified to provide its services in accordance with applicable regulations in Argentina. We assume no responsibility for investment decisions based on, or the results obtained from, the content available in this material.

Brazil

The content of this Material and any information contained therein are solely intended for the use of the person to whom they are addressed and have not been registered for public offering in Brazil and is not being offered to the public in general in Brazil.

BVI

This offer does not constitute, and there will not be, an offering of securities to the public in the British Virgin Islands.

Canada

The content of this material has not been reviewed by any Canadian securities regulatory authority and does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation would be unlawful, and does not constitute an offer to sell or a solicitation of an offer to buy or an advertisement in respect of securities in any province or territory of Canada. Any offer or sale of the securities described in this document must be made in compliance with applicable prospectus requirements under Canadian securities laws, or pursuant to an exemption from the prospectus requirement, and only through a dealer registered under Canadian securities laws in the applicable province or territory of Canada to make the trade, or exempt from the dealer registration requirement.

Cayman Islands

Neither of Citadel Securities (Europe) Limited nor Citadel Securities LLC intends or is licensed or registered to condict business in, from or within the Cayman Islands.

Mexico

For recipients in Mexico, the content in this material has not been provided by a Mexican financial entity authorized by Mexican financial authorities to carry out regulated activity or to act as a financial institution, including securities intermediation, within Mexican territory. Any services described in these materials would be rendered or made in a jurisdiction other than Mexico, and do not constitute intermediation with securities in Mexico. These materials should not be considered as investment advice of any type. To request and access the services mentioned in these materials, you must contact us outside Mexican territory.

Peru

For recipients in Peru, the content in this material has not been provided by a broker-dealer registered in Peru.

APAC

Australia

For recipients in Australia, this document is not for distributing to retail clients and is directed exclusively at wholesale clients as defined under Section 761g of the Corporations Act. Citadel Securities (Hong Kong) Limited, Citadel Securities (Europe) Limited, Citadel Securities LLC and Citadel Securities Institutional LLC are each exempt from the requirement to hold an Australian financial services licence to provide certain regulated financial services of the kind cotemplated in this material in Australia. Citadel Securities (Hong Kong) Limited, Citadel Securities (Europe) Limited, Citadel Securities LLC and Citadel Securities Institutional LLC are respectively: regulated by the Securities and Futures Commission of Hong Kong under the laws of Hong Kong, authorised and regulated by the Financial Conduct Authority of the United Kingdom under the laws of the United Kingdom; and (in the case of both Citadel Securities LLC and Citadel Securities Institutional LLC) regulated by the Securities and Exchange Commission of the United States of America under the laws of the United States of America. In each case those laws differ from Australian laws.

China

Neither this document nor any of the information contained in it shall constitute an offer, solicitation, invitation or inducement to purchase, acquire, subscribe to, provide or sell any financial instrument except as permitted under the laws of the People’s Republic of China.

Hong Kong

For recipients in Hong Kong, neither the provision of this document nor any of the information contained therein shall constitute an advertisement, invitation or document relating to any financial instrument which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to financial instruments which are or are intended to be disposed of only to persons outside Hong Kong or only to “Professional Investors” as defined in the Securities and Futures Ordinance (Cap. 571) of Hong Kong (the “SFO”) and any rules made under the SFO.

India

Nothing in the material nor any information contained in it shall be treated as an offer, solicitation, invitation or inducement to purchase, acquire, subscribe to or sell any financial instrument except as permitted under the laws of India. This material is intended exclusively for use by persons who are eligible under the laws of India to purchase, acquire or subscribe to the financial instruments. No recipient shall copy or reproduce or forward this material without the prior permission of Citadel Securities. This material has not been reviewed, approved, or recommended by any Registrar of Companies in India, the Securities and Exchange Board of India, the Reserve Bank of India, International Financial Services Centres Authority, any stock exchange in India or any other Indian regulatory authority. Nothing stated in the material should be understood or treated as any advice, opinion or recommendation regarding financial instruments. Every recipient must make its own assessment and obtain appropriate independent advice before entering into any financial instruments.

Indonesia

For recipients in Indonesia, any products or services described in this document have not been registered with the Indonesian Financial Services Authority (Otoritas Jasa Keuangan) or the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti) and therefore may not be offered or sold in Indonesia or to persons who are citizens of Indonesia (wherever they are domiciled or located) or entities of or residents in Indonesia in a manner which constitutes futures trading, a public offering and/or private placement under the laws of the republic of Indonesia.

Japan

For receipients in Japan, neither the provision of this document nor any of the information contained therein shall constitute an offer, solicitation, invitation or inducement to purchase, acquire, subscribe to, provide or sell any financial instrument, nor does the document constitute or form part of any invitation, solicitation or inducement to engage in investment activity except as permitted under the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948, as amended).

Malaysia

No action has been, or will be, taken to comply with Malaysian laws for the making available, offering for subscription or purchase, or issuing any invitation to subscribe for or purchase or sale of any product, service, security, derivative or financial instrument (collectively, “Financial Product(s)”) in Malaysia or to persons in Malaysia as the Financial Products are not intended to be made available or made the subject to any offer or invitation to subscribe for or purchase, in Malaysia.

For recipients in Malaysia, this document is sent upon your specific request and is for your internal information and education purposes only. Neither this document nor any document or other material in connection with any Financial Products shall be distributed, caused to be distributed or circulated in Malaysia for any purpose. No person should make available or make any invitation to sell or purchase any Financial Products in Malaysia unless such person takes the necessary action to comply with Malaysian laws.

This document and any of the information contained therein shall in no way constitute an offer, solicitation, invitation or inducement, proposal, scheme, transaction, arrangement or activity, to purchase, acquire, subscribe to, provide, issue or sell any Financial Products, nor form part of any proposal, invitation, solicitation or inducement, whether directly or indirectly, to engage in any activity or transaction regulated under Malaysian law. Any information contained herein shall not constitute investment advice or providing a recommendation regarding any Financial Product, nor shall it or any part of it form the basis of or be relied on in connection with any contract or investment decision.

New Zealand

This document is not a product disclosure statement, disclosure document or other offer document under New Zealand law or any other law. This presentation is not, and does not constitute, financial advice. Without limiting the foregoing, no product may be offered for sale or subscription except as part of an offer of financial products that does not require disclosure under the Financial Markets Conduct Act 2013 of New Zealand (FMCA). Accordingly, no person may subscribe for, offer, sell or deliver this document, any product or distribute this document, any information memorandum, advertisement (as defined in the FMCA) or offering material relating to any product in breach of the FMCA and, in particular, products may only be offered for sale to persons who qualify as a “Wholesale Investor” as defined in clause 3(2)(a), (c) and (d) of Schedule 1 of the FMCA.

Philippines

This document has been provided from outside the Philippines at your request and for information purposes only. Neither the provision of this document nor any information contained therein constitutes an offer, solicitation, invitation or inducement to purchase, acquire, subscribe to, provide or sell any securities or financial products or services in the Philippines, nor does it constitute an investment advice or recommendation. The securities, financial products and services described in this document have not been registered or otherwise licensed for offering, sale or distribution under the laws of the Republic of the Philippines. Any offering, sale or distribution of securities in the Philippines is subject to the requirements of the Securities Regulation Code and its implementing rules and regulations.

Singapore

In Singapore, the information contained in this document is intended exclusively for use by persons who qualify as Institutional Investors and/or Accredited Investors (each as defined in Section 4a of the Securities and Futures Act 2001, as modified or amended from time to time (the “SFA”)). It is not available to, directed to, intneded for use and must not be relied on by persons in Singapore who are not Accredited Investors or Institutional Investors, including but not limited to retail investors. Citadel Securities’ activities in connection with the distribution of this document would not subject it to licensing or regulation in Singapore.

Disclaimer in relation to any products constituting securities or securities-based derivatives contracts under the SFA

This document and any other document or material issued in connection with the offer or sale of the securities or securities-based derivatives contracts is not a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply. Investors should consider carefully whether the investment is suitable for them.

This document has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this document and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the securities or securities-based derivatives contracts may not be circulated or distributed, nor may securities or securities-based derivatives contracts be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an Institutional Investor under Section 274 of the SFA, (ii) to a relevant person pursuant to Section 275(1) of the SFA, or any person pursuant to Section 275(1a) of the SFA, and in accordance with the conditions specified in Section 275 of the SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.

Where securities or securities-based derivatives contracts are subscribed or purchased under Section 275 of the SFA by a relevant person which is:

(i) a corporation (which is not an Accredited Investor (as defined in Section 4a of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an Accredited Investor; or
(ii) a trust (where the trustee is not an Accredited Investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an Accredited Investor,

Securities or Securities-Based Derivatives Contracts (both as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the Securities or Securities-Based Derivatives Contracts pursuant to an offer made under Section 275 of the SFA except:

(i) to an Institutional Investor or to a Relevant Person defined in Section 275(2) of the SFA, or to any person arising from an offer referred to in Section 275(1a) or Section 276(4)(c)(ii) of the SFA;
(ii) where no consideration is or will be given for the transfer;
(iii) where the transfer is by operation of law; or
(iv) as specified in Section 276(7) of the SFA.

Disclaimer in relation to any products constituting units in a Collective Investment Scheme under the SFA

The offer or invitation of units / interests, which is the subject of this document, does not relate to a Collective Investment Scheme which is authorised under Section 286 of the SFA or recognised under Section 287 of the SFA. The Collective Investment Scheme is not authorised or recognised by the Monetary Authority of Singapore and the units / interests may not be offered to the retail public.

This document and any other document or material issued in connection with the offer or sale of the units / interests is not a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply. Investors should consider carefully whether the investment is suitable for them.

This document has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this document and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the units / interests may not be circulated or distributed, nor may the units / interests be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to any person in Singapore other than (i) to an Institutional Investor pursuant to Section 304 of the SFA, (ii) to a relevant person (as defined in Section 305(5) of the SFA) pursuant to Section 305(1) of the SFA, or any person pursuant to Section 305(2) of the SFA, and in accordance with the conditions specified in Section 305 of the SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.

Where the units / interests are subscribed for or purchased under Section 305 of the SFA by a relevant person which is:

(i) A corporation (which is not an Accredited Investor (as defined in Section 4A of the SFA)) the sole busines of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an Accredited Investor; or
(ii) A trust (where the trustee is not an Accredited Investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an Accredited Investor,

Securities (as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the units / interests pursuant to an offer made under Section 305 of the SFA except:

(i) To an Institutional Investor or to a Relevant Person defined in Section 305(5) of the SFA, or to any person arising from an offer referred to in Section 275(1a) or Section 305a(3)(c)(ii) of the SFA;
(ii) Where no consideration is or will be given for the transfer;
(iii) Where the transfer is by operation of law; or
(iv) As specified in Section 305a(5) of the SFA.

South Korea

Disclaimer in relation to any products constituting securities under the Financial Investment Services and Capital Markets Act of Korea (the “FSCMA”):

The securities described herein have not been and will not be registered with the Financial Services Commission of Korea in Korea under the FSCMA. The securities have not been and will not be offered, sold or delivered, directly or indirectly, in Korea or to, or for the account or benefit of, any resident of Korea (as defined in the Foreign Exchange Transactions Law of Korea and its enforcement decree), or to any other person for reoffering, resale or re-delivery, directly or indirectly, in Korea or to, or for the account or benefit of, any resident of Korea within one (1) year of the issuance of the securities, except as otherwise permitted by applicable Korean laws and regulations. Furthermore, the securities may not be sold or resold to Korean residents unless the purchaser of the securities complies with all applicable regulatory requirements (including but not limited to government reporting requirements under the Foreign Exchange Transactions Law of Korea and its enforcement decree) in connection with the purchase of the securities.

Taiwan

Any products or services described in this document may be made available outside Taiwan to Taiwan resident investors outside Taiwan but are not permitted to be marketed, offered or sold in Taiwan. No person or entity in Taiwan has been authorised to offer, sell, give advice regarding or otherwise intermediate the offering and sale of such services or products in Taiwan.

Thailand

For recipients in Thailand, this material is provided on a private and confidential basis to you at your own initial unsolicited request. It has been provided at your request for informational purposes only and shall not be copied or redistributed to any other person or distributed to the public without the prior consent of Citadel Securities or its affiliates. Should you have received this material erroneously, Citadel Securities requests that you kindly delete this material and inform Citadel Securities immediately. This material does not constitute an offer, solicitation, advertisement or advice of, or in relation to, the relevant securities, derivatives or products specified herein by Citadel Securities or any of its other affiliates and their representatives in Thailand. Please be aware that this material has not been reviewed, approved, disapproved or endorsed by the Securities and Exchange Commission of Thailand which takes no responsibility for its contents.

EMEA

EEA

This material does not constitute or form part of any invitation, solicitation or inducement to engage in investment activity as such terms are defined in the Markets in Financial Instruments Directive (2014/65/EU). This material is being sent to you in reliance upon your acknowledgement and acceptance that this material is being solely made to and directed at persons who are exclusively either professional clients or eligible counterparties as those expressions are defined in the Markets in Financial Instruments Directive (2014/65/EU) and must not be distributed to retail clients or distributed onward.

This material must not be acted upon by persons who are not professional clients or eligible counterparties and any recipient of this material who is not such a person, should take no further action. This material does not constitute a recommendation regarding any financial instrument and must not form the basis for or be relied on in connection with any contract or investment decision.

[1] EEA refers to the European Economic Area and constitutes European Union member states (Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden), as well as Iceland, Liechtenstein and Norway.

Egypt

The financial instruments described in this material have not been, and are not being, publicly offered, sold, promoted or advertised in Egypt. Further, this material does not constitute a public offer of financial instruments in Egypt and is not intended to be a public offer.

Israel

This material, as well as any products described herein, are directed at and intended exclusively for individuals or corporations that fall within at least one category of the First Schedule of the Israeli Securities Law, 1968 (“Sophisticated Investors”) and the First Schedule of the Regulation of Investment Advice, Investment Marketing and Investment Portfolio

Management Law, 1995 (“Qualified Clients”). By receiving this material, and as long as you do not notify Citadel Securities otherwise in writing, you hereby declare that you are a Sophisticated Investor, that you are aware of the implications of being considered a Sophisticated Investor, and consent thereto. Citadel Securities is not licensed or insured under the Investment Advice Law.

Jersey

An investment in financial instruments is only suitable for sophisticated investors who understand the risks involved in dealing in such financial instruments. Neither the product or Citadel Securities are subject to the provisions of the Financial Services (Jersey) Law 1998.

Jordan

This material is not intended to constitute an offer, issuance or solicitation to purchase or invest in a financial instrument. The financial instruments have not been and will not be issued, offered, sold, listed, promoted or advertised by it in Jordan other than in compliance with the Securities Law No. 18 of the Year 2017, as amended, and the regulations issued pursuant to it governing the issue, offering, promotion and sale of securities. The financial instruments have not been and will not, in any manner, whether directly or indirectly, be issued, offered, sold or promoted or advertised under circumstances which would constitute a public offer of securities under Jordanian law (including by way of offer, sale or issue to more than 30 persons in Jordan) nor otherwise marketed or promoted in Jordan, without complying with the required approval and notification requirements provided pursuant to the Securities Law No. 18 of the Year 2017, as amended, and the regulations issued pursuant to it. This document is strictly private and confidential, being made only to the original recipient, and must not be provided to any person other than the original recipient, and may not be reproduced or used for any other purpose.

Kazakhstan

The information provided is aimed at a limited circle of persons and is not an advertisement for the purposes of Kazakh law.

Kuwait

This material is not for general circulation to the public in Kuwait. The financial instruments have not been licensed for offering in Kuwait by the Kuwait Capital Markets Authority or any other relevant Kuwaiti government agency. The offering of the financial instruments in Kuwait on the basis a private placement or public offering is, therefore, restricted in accordance with Law No. 7 of 2010 (the Kuwait Capital Markets Law) (as amended) and the bylaws thereto (as amended). No private or public offering of the financial instruments is being made in Kuwait, and no agreement relating to the sale of the financial instruments will be concluded in Kuwait. No marketing or solicitation or inducement activities are being used to offer or market the financial instruments in Kuwait.

Qatar

The materials contained herein are not intended to constitute an offer, sale or delivery of the financial instruments under the laws of Qatar. The financial instruments and/or the provision of the services have not been and will not be authorised by any regulator in the State of Qatar, including the Qatar Financial Markets Authority, the Qatar Financial Centre Regulatory Authority or the Qatar Central Bank in accordance with their regulations or any other regulations in Qatar. The Products are not and will not be traded on the Qatar Stock Exchange.

Oman

This material has been prepared by Citadel Securities. Citadel Securities neither has a registered business presence nor a representative office in Oman and does not undertake banking business or provide financial services in Oman. Consequently Citadel Securities is not regulated by either the Central Bank of Oman or Oman’s Financial Services Authority. The information contained in this material is for discussion purposes only and neither constitutes an offer of securities in Oman as contemplated by the Commercial Companies Law of Oman (Royal Decree 18/2019) or the Securities Law (Royal Decree 46/2022), nor does it constitute an offer to sell, or the solicitation of any offer to buy non-Omani securities in Oman as contemplated by Article 139 of the Executive Regulations to the Capital Market Law (issued vide Capital Market Authority Decision 1/2009). Additionally, this MATERIAL is not intended to lead to the conclusion of a contract for the sale or purchase of financial instruments.

Citadel Securities does not solicit business in Oman and the only circumstances in which Citadel Securities sends information or material describing financial products or financial services to recipients in Oman, is where such information or material has been requested from Citadel Securities and by receiving this material, the person or entity to whom it has been dispatched by Citadel Securities understands, acknowledges and agrees that this material has not been approved by the CBO, the FSA or any other regulatory body or authority in Oman. Citadel Securities does not market, offer, sell or distribute any financial or investment products or services in Oman and no subscription to any securities, products or financial services may or will be consummated within Oman. This material has not been approved by the FSA or any other regulatory body or authority in Oman, and no authorization, licence or approval has been received by Citadel Securities from the FSA or any other regulatory authority in Oman, to market, offer, sell, or distribute the securities within Oman. Citadel Securities does not advise persons or entities resident or based in Oman as to the appropriateness of investing in or purchasing or selling securities or other financial products. Nothing contained in this material is intended to constitute Omani investment, legal, tax, accounting or other professional advice. The recipient of this material represents that it is a financial institution and is a sophisticated investor (as described in Article 139 of the Executive Regulations of the Capital Market Law) and that its officers/employees have such experience in business and financial matters that they are capable of evaluating the merits and risks of investments.

Saudi Arabia

This material may not be distributed in the Kingdom except to such persons as are permitted under the Rules on the Offer of Securities and Continuing Obligations issued by the Capital Market Authority. The Capital Market Authority does not make any representation as to the accuracy or completeness of this material, and expressly disclaims any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this material. Prospective purchasers of financial instruments should conduct their own due diligence on the accuracy of all information. If you do not understand the contents of this material, you should consult an authorised financial advisor.

South Africa

This material constitutes factual, objective information about Citadel Securities and nothing contained herein should be construed as constituting any form of investment advice or recommendation, guidance or proposal of a financial nature in respect of any transaction relating to a financial product. Citadel Securities is not licensed as a financial services provider in South Africa and nothing in this material should be construed as constituting the canvassing for, or marketing or advertising of financial services by Citadel Securities.

Switzerland

The information provided in this material is of general nature and for information purposes only. It shall not be contrued as an advertisement. This material does not constitute an offer, solicitation, invitation or inducement to purchase, acquire, subscribe to, provide or sell any financial instrument. This material does not constitute or form part of any invitation, solicitation or inducement to engage in investment activity or financial service (under the swiss financial services act). Consequently, no assessment of appropriateness and suitability of order or service will be made under the swiss financial services act. This material does not constitute a recommendation regarding any financial instrument and must not form the basis for or be relied on in connection with any contract or investment decision. This material in no case serves as a binding offer to buy or sell any instrument or enter into any transaction.

UAE

This material is intended for distribution only to Professional Clients who are not natural persons, as defined within the DFSA Rulebook. It must not be delivered to, or relied on by, any other person.

This material relates to financial instruments which are not subject to any form of regulation or approval by the DFSA. The DFSA has no responsibility for reviewing or verifying any materials in connection with Exempt Offers. The DFSA has not approved this material nor taken steps to verify the information set out in it and has no responsibility for it. The financial instruments to which this material relates may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of any financial instruments offered should conduct their own due diligence.

If you do not understand the contents of this material you should consult an authorised financial advisor.

United Kingdom

This material is being distributed only to and is directed only at persons who have professional experience in matters relating to investments who fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“relevant persons”). The financial instruments to which this material relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such financial instruments will be available only to or will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this material or any of its contents. Persons distributing this material must satisfy themselves that it is lawful to do so.

Citadel Securities Global Sales and Trading Disclosures

Americas

APAC

EMEA