This material (the “Material”) is provided for general information purposes only and does not constitute, and should not be construed as, an offer, solicitation, recommendation, or invitation to buy or sell any securities, financial instruments, or investment products, or to enter into any transaction or adopt any investment strategy. Any views, forecasts, analyses or other information contained herein are as of the date of preparation and are subject to change without notice. The Material is prepared from sources believed to be reliable (including, without limitation, publications by central banks, government agencies and major financial institutions, as well as reputable news and data providers such as Reuters, Bloomberg and Morningstar). However, no representation or warranty is made as to its accuracy, completeness or timeliness, and the Company accepts no liability for any loss arising from any use of, or reliance on, the Material. This Material and the information in this material is not intended, by itself, to constitute independent, impartial or objective research or a recommendation from the Company and should not be treated as such. Unless otherwise indicated, any reference to a research report or recommendation is not intended to represent the whole report and is not in itself considered a research report or recommendation. Investments involve risks, including (but not limited to) market risk, interest rate risk, credit risk, liquidity risk and foreign exchange risk, and you may lose some or all of your invested capital. Past performance is not indicative of future results. You should make investment decisions based on your own objectives, financial situation, knowledge and experience, and risk tolerance, and you are solely responsible for such decisions. Where appropriate, you should seek independent professional advice (including financial, tax, legal and accounting advice). No part of this Material may be reproduced, distributed, published, transmitted, translated or otherwise used without the Company’s prior written consent.

January 2026 Market View

This material (the “Material”) is provided for general information purposes only and does not constitute, and should not be construed as, an offer, solicitation, recommendation, or invitation to buy or sell any securities, financial instruments, or investment products, or to enter into any transaction or adopt any investment strategy. Any views, forecasts, analyses or other information contained herein are as of the date of preparation and are subject to change without notice. The Material is prepared from sources believed to be reliable (including, without limitation, publications by central banks, government agencies and major financial institutions, as well as reputable news and data providers such as Reuters, Bloomberg and Morningstar). However, no representation or warranty is made as to its accuracy, completeness or timeliness, and the Company accepts no liability for any loss arising from any use of, or reliance on, the Material. This Material and the information in this material is not intended, by itself, to constitute independent, impartial or objective research or a recommendation from the Company and should not be treated as such. Unless otherwise indicated, any reference to a research report or recommendation is not intended to represent the whole report and is not in itself considered a research report or recommendation. Investments involve risks, including (but not limited to) market risk, interest rate risk, credit risk, liquidity risk and foreign exchange risk, and you may lose some or all of your invested capital. Past performance is not indicative of future results. You should make investment decisions based on your own objectives, financial situation, knowledge and experience, and risk tolerance, and you are solely responsible for such decisions. Where appropriate, you should seek independent professional advice (including financial, tax, legal and accounting advice). No part of this Material may be reproduced, distributed, published, transmitted, translated or otherwise used without the Company’s prior written consent.