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Disclosure

Disclosures with Respect to Research and Recommendation Services

Financial Interest

Stoxelite may have a financial interest or actual/beneficial ownership in the securities recommended in its personal portfolio. Details can be referred to through disclosures made at the time of advice.

Conflict of Interest

There are no actual or potential conflicts of interest arising from any connection or association with any issuer of products/securities, including any material information or facts that might compromise objectivity or independence in carrying out research analyst services. Such conflicts of interest will be disclosed to the client as they arise.

Compensation

Stoxelite , its employees, or its associates have not received any compensation from the subject company in the past 12 months. Stoxelite , its employees, or its associates have not received compensation for investment banking, merchant banking, or brokerage services from the subject company in the past 12 months. Stoxelite , its employees, or its associates have not received compensation for products or services other than the aforementioned from the subject company in the past 12 months.

No Benefits

Stoxelite , its employees, or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report/recommendation. The subject company was not a client of Stoxelite , its employees, or its associates during the twelve months preceding the date of distribution of the research report and recommendation services provided.

No Affiliation

Stoxelite , its employees, or its associates have not served as an officer, director, or employee of the subject company. Stoxelite has not been engaged in market-making activities for the subject company.