Disclaimer

The information provided herein is provided by STALICLA SA ("STALICLA") for general information purposes only on a private and confidential basis. It should not be reproduced or circulated without STALICLA's prior written consent.

The information provided herein is provided without any representation, warranty or guarantee of any kind, either express or implied, including but not limited to any representation, warranty or guarantee as to the completeness, fairness, accuracy or correctness of the information provided. STALICLA shall not be responsible for any information provided herein and shall not assume any liability for the assumptions made, opinions stated or the likelihood of the achievement of projections, prospect or returns, in particular in connection with any forward-looking statements.

The information contained herein is subject to change, without however any obligation for STALICLA to update it. There are a number of important factors that could cause STALICLA's condition, development and/or actual performance and results to differ materially from information indicated herein, in particular in any forward-looking statements. The recipient acknowledges and agrees that he/she/it will be solely responsible for making his/her/its own analysis and investigations and forming his/her/its own view as to the condition and prospects of STALICLA and the completeness, fairness, accuracy or correctness of the information provided herein.

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