This Hong Kong section of the BNP Paribas Warrants & Certificates website (the “Hong Kong Website”) is produced by BNP Paribas Hong Kong Branch (“BNPP”). Access to the Hong Kong Website and documents and information published herein (the “Materials”), and the distribution thereof, is subject to the following disclaimer.

The financial products described in the Hong Kong Website (“Structured Products”) are only directed at and intended for residents of Hong Kong only. It may be illegal to download any information from the Hong Kong Website in other countries and BNPP disclaims all responsibility if you download any information from the Hong Kong Website in breach of any law of country in which you are residing. The Materials in this website must not be relied, or acted, upon by persons outside Hong Kong. By entering this Hong Kong Website, you confirm that you are a resident of Hong Kong and agree to be bound by the following disclaimer.

Persons accessing this Hong Kong Website and/or into whose possession any information contained herein should inform themselves about, and observe and comply with, any such restrictions at their own cost and expense and without liability to BNPP. Reproduction, distribution, transmission, disclosure or publication of any information contained herein in any other places or to persons to whom such distribution, transmission, disclosure or publication is not permitted under the applicable laws or regulations of such places is strictly prohibited. In particular, information contained herein may not be taken or transmitted into the United States or distributed, directly or indirectly, in the United States or to any U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933). Users of this Hong Kong Website should note that, in order to comply with the applicable laws and regulations, contents of the Hong Kong Website are designed for residents of Hong Kong only and you should not access, browse and/or download any of the contents contained in the Hong Kong Website outside of Hong Kong.

The Materials contained in this Hong Kong Website are provided for information and discussion purposes only and do not constitute or form an (or any part of an) offer, invitation, solicitation, inducement, advice or recommendation, to acquire, dispose of, subscribe for or underwrite any Structured Product. The Materials do not constitute any advice or any form of recommendation to purchase or sell the Structured Products or to conclude any transaction. Nothing contained herein shall form the basis of any contract or commitment whatsoever. Neither this Hong Kong Website nor the Materials shall be construed as an advertisement, inducement or representation of any kind or form whatsoever.

The Materials have been prepared for the intended recipients in general only and do not take into account the particular needs of any specific recipient.

The Materials are based on the information obtained from public sources which are considered by BNPP to be reliable. However, BNPP has not verified the Materials, and such Materials may be incomplete or inaccurate. Opinions, estimates and other information contained in the Materials may be changed or withdrawn without notice. BNPP is not under any obligation to update or supplement the Materials. None of the members of the BNP Paribas Group and/or its associates and connected persons and/or its affiliates, respective directors, senior officers and/or employees (including persons involved in the preparation or issuance of the Materials on this Hong Kong Website) (collectively, the "BNPP Group") or any information provider makes any representation or warranty, express or implied, of any kind as to the truth, accuracy, completeness, adequacy or reasonableness of the Materials or as to the fitness of any such Materials for any purpose. The Materials contained in this Hong Kong Website are published for reference only and shall not to be relied, or acted, upon as authoritative or without the recipient's own independent verification or in substitution for the exercise of judgment by any recipient.

Any indicative pricing levels, disclosure materials, valuations and other analysis published on the Hong Kong Website have been prepared on assumptions and parameters that reflect good faith determinations. The assumptions and parameters used are not the only ones which could have reasonably been selected, and accordingly, no guarantee is given in respect of the accuracy, reasonableness or completeness of such quotations, disclosure or analysis. No representation or warranty is made that any indicative return or performance will be achieved in the future. Such information do not constitute investment advice by BNPP and are for information purposes only.

The Structured Products are non-collateralised product. If the Issuer or the Guarantor is insolvent or defaults, you may not recover part or all of the amount due. If you invest in the Structured Products, you are relying on the creditworthiness of the Issuer and the Guarantor. The price of the Structured Products may fall in value as rapidly as it may rise and investors may sustain a total loss of their investment. It is not possible to predict whether the secondary market for the Structured Products will be liquid or illiquid. BNP Paribas Securities (Asia) Limited may be the only liquidity provider for the Structured Products. Any opinions, forecasts or estimates herein constitute a judgment as of the date the information is published, and there can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates. You are cautioned that actual results may differ materially from those set forth in any forward-looking statements. Past performance is also not indicative of future results.

Callable bull/bear contracts (“CBBCs”) have a mandatory call feature. Subject to the terms and conditions of CBBCs as set out in the Base Listing Document (including any addendum to the Base Listing Document), CBBCs must be terminated when the spot price / spot level of the underlying asset reaches the call price / call level during the observation period, in which case, you may receive a cash payment called the residual value for category R CBBCs.

Prospective investors should therefore ensure that they understand the nature and risks of the Structured Products and should, where applicable, consult their own legal, tax, accounting, financial and other professional advisers to ensure that any decision to invest in the Structured Products is suitable with regard to such investor’s specific circumstances and financial position. The BNPP Group assumes no fiduciary responsibility or liability for any consequences, financial or otherwise, arising from the subscription or purchase of the Structured Products.

In respect of each issue of the Structured Products, you should carefully review and understand the terms and conditions of the Structured Products, together with the financial and other information of the issuer, as set out in the Base Listing Document (including any addendum to the Base Listing Document), and the relevant Supplemental Listing Document, which documents may be obtained from the office of the Sponsor, Paribas Asia Equity Limited, at 60th - 63rd Floors, Two International Finance Centre, 8 Finance Street, Central, Hong Kong.

Members of the BNPP Group may take proprietary positions and may have long or short positions or other interests in the Structured Products and may purchase and/or sell the Structured Products at any time in the open market or otherwise, in each case whether as principal, agent or as market maker. The BNPP Group is or may also be involved in other financial, investment and professional activities which may on occasion give rise to interests or a conflict of interests in respect of the securities which are the subject of this Hong Kong Website.

The BNPP Group does not accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this Hong Kong Website or its contents or otherwise arising in connection therewith. Without prejudice to the generality of the foregoing, none of the members of the BNPP Group or any information provider will be liable to anyone for any interruption, inaccuracy, error or omission, regardless of cause, in the information on the Hong Kong Website or for any kind of damages arising in connection therewith. Further, communications over the internet and by email are not secure and there is a risk that information may be intercepted, lost or destroyed. The BNPP Group do not accept any liability for any such occurrence and do not warrant that any communication or attachments or this Hong Kong Website will be free from viruses, worms or other harmful components.

Trading on an electronic trading system may differ from trading on other electronic trading systems. If you undertake transactions on an electronic trading system, you will be exposed to risks associated with the system including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all. In addition, transactions conducted over the internet may be subject to interruption, transmission blackout, delayed transmission due to Internet traffic or incorrect data transmission due to the public nature of the internet.

Any personal information supplied by you through this Hong Kong Website will be kept strictly confidential and, save as expressly provided, will only be used in ways which you have consented to. By accessing this Hong Kong Website, you are deemed to consent to BNPP’s use of information collected from you for marketing purposes, planning, product development and research purposes. BNPP may provide such information to third party service providers for marketing purposes, product development and research (whether inside or outside Hong Kong). Save as herein provided, BNPP will not disclose this information to any third party unless such disclosure is required or authorised by law. Please read BNPP’s privacy policy statement to understand how your personal information will be treated when you use this site.

Except where expressly stated, copyright in the information contained in this Hong Kong Website is owned by or licensed to the BNPP Group. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or incorporated in any way into another site, document or other material. The use of any trademarks and logos displayed on this site is strictly prohibited unless written permission for such use is obtained from BNP Paribas and/or, where relevant, such third party, which may own the trademarks and logos.

This Hong Kong Website may contain links to other web sites operated by entities which do not belong to the BNPP Group. These links have been provided solely for you to obtain further information about other relevant products and entities in the market. Members of the BNPP Group have no control over the information on these sites or the products or services on them, and therefore make no representations and accepts no responsibility regarding their contents. Inclusion of a link to a third party site should not be construed as an endorsement of such third party site by BNPP or that party's endorsement of this Hong Kong Website. You are advised to make your own enquiries in relation to third parties described or linked on this Hong Kong Website. Please note that you will be subject to the terms of use of the other sites that you visit.

BNPP reserves the right to change the Hong Kong Website in whole or in part at any time and to restrict, interrupt or terminate its service. BNPP also reserves the right to modify or amend these terms and conditions at any time. If any provision hereunder (or a part thereof) is or becomes illegal, invalid or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions shall not in any way be impaired or affected.

These terms and conditions are exclusively governed by and shall be construed in accordance with the laws of Hong Kong. Each user is subject to the exclusive jurisdiction of the courts of Hong Kong in respect of any disputes arising hereunder.

Investors in BNP Paribas Warrants, CBBCs and Inline Warrants are responsible for ensuring that they comply with applicable regulations in HKSAR and where applicable provisions of Executive Order 13959 as amended (and any subsequent official guidance).