Thank you! The suitability test is submitted to Pareto Securities. To Pareto Securities Suitability test for existing non-professional clients The client Name (person/enterprise) Social sec. no. / Org. no. Information is registered by (Name) Use of submitted client details Pareto Securities AS (“Pareto”) will not use the details submitted below for any other purpose than performing such evaluations as the enterprise is required to carry out pursuant to the Act relating to Securities Trading with appurtenant regulations. Investment advice suitability test Pareto offers transmission and execution of orders for trading in financial instruments through our Internet trading platform (“web trading”), as well as via our dealing desk. Brokers may contact clients who make use of order transmission and execution services in connection with general offers available to all clients of the enterprise. Besides, investment advice1 is offered through the dealing desk for clients holding clearance for such service. It is a requirement under the Securities Trading Act that client to whom investment advice is to be offered are subjected to a suitability test for purposes of enabling the investment firm to recommend such investment services and such financial instruments as a suitable for the client. The details submitted on the present form shall enable Pareto to perform such suitability testing. Pareto will assess whether investment advice may be offered to the Client based on an assessment of the client profile. The investment advice is limited to the small number of investment products offered by Pareto, and consequently is not product-independent advice. Nor do Pareto’s business activities include advice to the Client with regard to the establishment of investment objectives and detailed investment limits (asset allocation principles, portfolio composition to achieve the desired diversification, etc.). Consequently, clients wanting assistance on this need to contact another service provider that offers such a service. Pareto does not offer active management services. Nor does Pareto offer any form of ongoing portfolio monitoring in connection with investment advice. The Client is him- or herself responsible for following up on his or her positions, and cannot assume that Pareto will contact him or her if the risk profile of positions turns out to differ from that desired by the Client as the result of market developments. The products offered by pareto Pareto offers a limited range of investment products: Listed and non-listed equities and equity instruments Funds, including Exchange Traded Funds (ETF) Exchange Traded Notes Listed and non-listed bonds Direct investments/shares in limited partnerships Futures and forwards with equities, commodities, foreign exchange or contracts of affreightment as the underlying instruments Pareto does not, for example, offer investments in the form of bank deposits, money market funds or Contracts for Difference (CFDs). Consequently, clients wishing to trade in such products must contact another provider that offers such products. Pareto’s investment products aim to achieve positive yields/gains net of costs, and are generally characterised by medium/high risk, whilst their recommended investment horizons vary depending on, inter alia, liquidity. Please note that Pareto does not offer products with a low risk profile. Client profile Pareto is required, under the Securities Trading Act with appurtenant regulations, to gather details regarding our clients’ knowledge and experience from clients who make use of order transmission and execution services. Such details shall enable Pareto to assess which investments are appropriate for the Client. As far as clients who make use of the service investment advice are concerned, the Securities Trading Act with additional regulations requires the gathering of additional details pertaining to the financial position and investment objective of the Client. Such details shall, together with the previously gathered details pertaining to the knowledge and experience of the Client, enable Pareto to assess which investments are appropriate for the Client. Investment objective Information about the investment objective will be used in connection with the investment advice service. It will not be used for purposes of order transmission or execution. Pareto offers investment advice relating to such part of the client’s portfolio as the client would like to expose by using Pareto. Pareto does not offer investment advice in respect of other parts of the client’s portfolio. The questions in this section (investment objective) concern such part of the client’s portfolio as the client wishes to invest through Pareto. . Clients who would like advice with regard to how large a portion of the client’s overall portfolio may be invested in equities, given the risk tolerance and return expectations of the client in respect of the portfolio as a whole, need to seek advice from an investment adviser that provides investment advice in respect of the overall portfolio of the Client. Pareto does not offer any form of ongoing portfolio monitoring. Clients wanting such a service must contact an investment adviser that provides such service. Return objective Low return – expected return significantly lower than general stock market index return (i.e. bank deposits and money market funds – Pareto does not offer such products) Medium return – Interest yield from bonds (Clients with this return objective will be offered investment advice with regard to bonds, not equities.) High return – Return from equities or limited partnership shares (See below regarding risk appetite for trading in equity and limited partnership shares.) Risk appetite Low risk appetite (No available products) Medium risk appetite (bonds) High risk appetite (equities) - If you have ticked off «High return» above, you must have «High risk appetite». Risk appetite for trading in equities and/or partnership interests (”Equity Risk” – conditional upon the Client wishing to assume a high level of risk in general3) (”Equity Risk” – conditional upon the Client wishing to assume a high level of risk in general 2) Low equity risk – equities and equity instruments listed on a regulated market or a Multilateral Trading Facility (MTF) Medium equity risk – equities and equity instruments not listed on a regulated market or an MTF Medium equity risk – project finance companies (“asset play” within the shipping/offshore sector and real estate development projects excepted) High equity risk – derivatives trading, short sales and securities financing High equity risk – project finance: “asset play” investments within the shipping/offshore sector and real estate development projects Desired maximum gross exposure to securities / corporate shares 3 NOK Intended use of yield Servicing of ongoing obligations, please specify Consumption/Savings Other Equities are high-risk instruments. In general, Pareto Securities will not recommend that any capital that is necessary for meeting ongoing subsistence requirements be invested in equities. Nor are equities necessarily suitable for meeting all intended capital uses. Future need for liquidity Capital requirement the next five years that must be taken into consideration when considering which investments that are suitable for you as a Client No – I do not have a known need for liquidity the next five years that must be taken into consideration Yes – please specify Time horizon of the investments The time horizon of the client is of relevance to the assessment as to whether equities are suitable, in view of the risk tolerance of the client, as well as to the assessment as to whether products with limited liquidity are suitable. The client is requested to indicate for how long the client intends to be invested in financial instruments (time horizon), and not for how long the client would like to be invested in each individual instrument. The time horizon is of relevance to Pareto Securities’ assessment as to what market risk exposure would entail for the client. A short time horizon increases the risk associated with investments in certain types of financial instruments, like for example equities. This implies that equities may be unsuitable as an investment if the client either requires (for example for liquidity reasons) or would prefer a very short investment horizon. Time horizon of less than 1 month (No available products) Time horizon of 1 month to 1 year Time horizon of more than 1 year Time horizon of more than 5 years Pareto does not offer any products with a time horizon of less than one month, and offers only a limited range of products (bonds and equities with low equity risk) with a time horizon of less than one year. In order for products with medium or high equity risk to be suitable, the Client must have a time horizon of more than 1 year. Products with «high equity risk – project finance» may entail low liquidity and require the Client’s time horizon to be more than 5 years. Pareto reserves the right not to provide investment services if Pareto finds that the investment objective stated by the Client is incompatible with the investment objectives that the investment products offered by the enterprise are suited to meeting. Knowledge and experience Pareto is required to gather necessary information about the financial market knowledge and experience of clients assumed to be classified as non-professional investors. Such clients shall submit the following details: Job/profession (of the Client or the person(s) trading on behalf of the Client) Level of education (please tick the relevant box) Compulsory secondary education Upper secondary education College/university The Client or the person(s) trading on behalf of the Client has/have professional experience from the financial sector Yes No The Client or the person(s) trading on behalf of the Client has/have an economics or finance education Yes No The Client or the person(s) trading on behalf of the Client has/have experience from investments in the Norwegian company structures KS/IS/ANS or other limited partnership companies Yes No The Client or the person(s) trading on behalf of the Client has/have investment experience from/knowledge about these product categories (please enter relevant experience) Equity and bond funds, including «Exchange Traded Funds» (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Listed equities included in the Main Index of the Oslo Stock Exchange (OSEBX) or corresponding foreign indices (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Unlisted equities and listed equities not included in the Main Index (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Investment grade bonds (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low High yield bonds (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Contingent Convertible Bonds (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Listed derivatives, for instance Exchange Traded Notes and listed options (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Unlisted derivatives (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Short trading (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Securities financing/stock trading credit (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Private Equity (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Direct investments or through AS/KS/ANS/IS within real estate/shipping/offshore (only when relevant) Time period Number of transactions Less than 5 5 or more Level of knowledge High Medium Low Pareto Securities has a statutory obligation to clarify whether non-professional clients have prior experience from the purchase of investment services. The client’s reply will form part of an overall assessment of the client’s level of expertise. The Client or the person(s) trading on behalf of the Client has/have previously made use of the following investment services Transmission/execution of orders Investment advice Active management Purchase/subscription of/for financial instruments in connection with initial or secondary public offerings Pareto provides so-called “execution only” services as far as web trading in non-complex instruments is concerned, which services involve direct assistance with the execution of orders at the initiative of, and as decided by, the Client. Consequently, the enterprise is not required to assess whether the Client has the necessary knowledge and experience to understand the risk associated with the relevant investment product. Consequently, Pareto is under no obligation to warn the Client against investments in respect of which the Client does not have sufficient knowledge and experience to understand the risk associated therewith. The Client therefore does not benefit from the same investor protection as do clients who receive investment advice. Financial position Pareto is required to gather details about the financial position of our clients in order to provide investment advice. The Client shall disclose its assets in order to enable Pareto to assess which financial instruments are suitable for the Client. Clients must also disclose their liabilities in order to enable Pareto to assess the ability of such clients to absorb losses. Pareto will not make use of details relating to financial position in its assessment of a Client who is making use of the web trading solution offered by the enterprise, and who does not receive investment advice. Assets Bank deposits Financial instruments Tradable fixed-income instruments (bond funds, listed bonds) Illiquid fixed-income instruments Listed equities Other financial instruments Other financial instruments Other wealth Total Liabilities Real estate as collateral Securities as collateral Other liabilities Total Net wealth (assets less liabilities) Uncalled capital in partnership companies, guarantees or security provided or other latent debt For enterprises Net turnover last financial year Profit/loss last year For private individuals Annual income Ordinary obligations * * Ordinary obligations: The total monthly expenditure of the Client, multiplied by 12. In addition, Pareto will gather information about the financial position of the Client from one or more credit rating agencies. Accounting information will be gathered in respect of legal entities. Natural persons will receive, directly by mail, a copy letter with the information we have gathered about them. I confirm that the information given in this form is correct Send inn skjema Skjema sendes... En eller flere felter må fylles ut korrekt før du kan sende inn skjema 1Investment advice means the provision of personal recommendations to a client, at the initiative of the client or the investment firm, in respect of one or more transactions relating to specific financial instruments./p> 2Equity trading does in itself entail considerable risk, but is categorised as representing lower or higher Equity Risk 3Aggregate value of all long and short securities positions. Pareto is not responsible for ensuring adherence to such maximum exposure. The information is gathered for purposes of shedding light on the investment objective of the Client.