TOTEM MACRO LLC (“Totem”)

WEBSITE TERMS OF USE

Acknowledgment and Agreement. These terms govern your use of this website. By accessing and using this site, you acknowledge that you have read and agree to be bound by the following terms and conditions without limitation or qualification. Please read these terms and conditions carefully before using this site.

Terms Subject to Change. These terms and conditions are subject to change without notice.

Timeliness. Opinions on this site constitute the views and opinion of the author as of the date indicated. All other information contained on the site is believed to be current as of the date of this indicated unless otherwise stated. Any opinions or views stated by Totem and all information on this site are subject to change without notice. Totem is not obligated to update or supplement any of the information, analysis or opinions contained on this site. Totem is not obligated to update or otherwise notify you in the event that any information on this site changes or subsequently becomes inaccurate.

Disclaimer of Warranties. The information in this site is provided “as is”. We do not warrant the accuracy, adequacy, or completeness of this information and we expressly disclaim all endorsements, guarantees and warranties, express or implied, of any kind, including without limitation all warranties of merchantability, fitness for a particular purpose. Although the information provided on this site is obtained or compiled from sources believed reliable, Totem cannot guarantee the accuracy, quality, reliability, timeliness, completeness, or continued availability of any information or data made available. Moreover, Totem has relied upon and assumed without independent verification the accuracy and completeness of all information available from public sources.

Limitation on Liability. To the fullest extent permissible under applicable law, Totem will not be liable for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of the information on this site by you or anyone else (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information). To the fullest extent permitted by law, Totem will not be liable to you or anyone else for any loss under any tort, contract, negligence, strict liability, products liability, or other theory with respect to this the information on this site. Totem, nor any third party vendor will be liable or have any responsibility of any kind for any loss or damage due to failure, interruption, delay in operation or transmission of this site contents, or resulting from the act or omission of any other party involved in making this site or the information contained available, or from any other cause relating to your access to, inability to access, or use of the site.

No Offer or Solicitation. The information on this site is provided for informational purposes only and should not be construed as an offer or solicitation to buy or sell any security, financial product, or other instrument. The information on this site is not, and under no circumstances should it be construed as, an advertisement or offering of any of the securities described.

Not a Fiduciary or Registered Financial Company. Totem is not a fiduciary. Totem is an independent investment research provider and is not a member of FINRA or the SIPC. Totem is not a registered broker dealer. Totem relies upon the “publishers’ exclusion” from the definition of investment adviser under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws, and is not a registered investment adviser either with U.S. Securities and Exchange Commission or with any state securities regulatory authority.

Not Investment Advice. Content on this site is for informational and illustrative purposes only and should not be regarded as investment advice or as a recommendation regarding a course of action. Totem is not acting in a fiduciary or advisory capacity to you. You agree that you will make your own independent decision with respect to any course of action in connection with any research or other information presented on this site and that you are capable of understanding and assessing the merits of a course of action and evaluating investment risks independently, or with the aid of other advisors.

Risk of Loss. Investing, including in the investments or opportunities that may be discussed on this site, is speculative and involves substantial degrees of risk including the loss of the entire principal amount of any investment. You should not assume that any investment or opportunity discussed on this site will be profitable. Any discussion of risks related to the investments and opportunities discussed on this site are not complete.

Past Performance is Not Indicative of Future Results. There can be no assurance that the future performance of any specific investment, investment strategy, or product referenced on this site will be profitable.

Not Suitable for All Investors. All information on this site is general in nature and provided without regard to particular circumstances. Information on this site may not take into account the investment objectives, financial situation, or particular needs of any particular person, and do not provide all information that may be material to an investor’s decision about whether or not to make any investment. As to whether any such course of action is appropriate or proper is based on your own judgment and your specific circumstances and objectives; and may not be suitable or desirable for all investors. You agree that you will make your own investment decisions based upon your own financial objectives and financial resources and will seek advice from professional investment, legal, and/or tax advisors.

Not Legal, Accounting or Regulatory Advice. The information on this site is not intended to represent the rendering of accounting, tax, legal or regulatory advice. A change in the facts or circumstances of any transaction could materially affect the accounting, tax, legal or regulatory treatment for that transaction. You agree that the ultimate responsibility for the decision on the appropriate application of accounting, tax, legal and regulatory treatment rests with yourself, and with such accountants, tax and regulatory counsel as you may consult.

Forward-Looking Statements. The information on this site may contain forward-looking statements or projections regarding future events, targets or expectations. Forward-looking statements are based on assumptions and estimates of amounts not yet determinable, and therefore involve known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from those in the forward-looking statements. Even slight differences or variations from the assumptions used can produce vastly different results. There is no guarantee that projections will be realized or achieved.

Not Replicated In Actual Portfolio. Data presented on this site is unaudited and hypothetical and does not account for potential fees, transactions cost, or other outlays that may affect the ability of investors to execute the opportunities discussed in an actual portfolio. The information on this site does not disclose or contemplate the risks, liquidity, hedging, or exit strategies that may need to be considered to properly execute of the opportunities. No representation is made as to whether any of the investments or opportunities discussed on this site can be successfully replicated in a portfolio.

Links to Other Sites. This site may be linked to other websites. Totem is not responsible for the content of those sites. The inclusion of any link to such websites does not imply approval of or endorsement by Totem of the web sites or the content thereof.

Enforcement of this Agreement. You acknowledge and agree that the terms and conditions of this website shall be governed by the law of the State of New York without regard to the conflict of law provisions thereof, that the exclusive jurisdiction and venue of any litigation with respect to this site or the term here presented shall be in the federal and state courts in Manhattan County, in the State of New York, and that you shall not claim that such venue is inconvenient or improper. You further acknowledge and agree that, in addition to recovery for any and all direct damages that Totem may suffer as a result of your breach of terms, Totem shall be entitled to recover reasonable costs and attorney’s fees incurred by it in connection with any action to enforce its rights hereunder.

Confidential. Not For Distribution. The information on this website is provided for your use only. This contents and information on the site are proprietary and confidential and may not be reproduced, distributed, or disclosed, in whole or in part, in any manner, without the prior written consent of Totem. The information is protected under the applicable copyright laws in the US and other countries. Unauthorized retransmission, redistribution or other reproduction or modification of information contained on this site is prohibited and may be a violation of laws, including trademark or copyright laws and could subject the user to legal action.

© Totem Macro, LLC. All rights reserved