Please read the following terms and conditions (the “Terms”) carefully. By accessing rbcgam.lu or rbcgam.com and any pages thereof (together, the “Site”), you agree to be bound by and comply with the Terms as well as any future revisions RBC Global Asset Management (UK) Limited (“RBC GAM UK”) and its affiliates (together, “RBC GAM” or “we”) may make in its discretion. If you do not agree to the Terms, do not access the Site.

Access

You are accessing RBC GAM’s network pursuant to these Terms and any existing agreement you may have with us.

Not all products or services provided on this Site are available in all jurisdictions. Products and services of RBC GAM are only available in jurisdictions where it is lawful to offer these products and services. The information, material and content on the Site (the “Information”) has been prepared for informational purposes only without regard to any particular user’s investment objectives or financial position and RBC GAM is not soliciting any action based upon them.

Note to UK/European Investors

RBC GAM UK is authorized and regulated by the Financial Conduct Authority (the “FCA”). RBC GAM UK is incorporated in England and Wales with registered office at 77 Grosvenor Street, London W1K 3JR, United Kingdom and registered number 189154. RBC GAM UK’s affiliated entities not incorporated in the United Kingdom are not authorized and regulated by the FCA.

No Offer/Local Restrictions

Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The Information is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. You are required to inform yourself of the laws of your country or that otherwise apply to you in relation to any of the matters described in the pages of this Site. If you choose to access the Site, you do so on your own initiative and are responsible for compliance with applicable local, national or international laws.

Professional Investors only

In the European Economic Area, this Site is only directed at Professional Investors as defined under the UK Financial Conduct Authority’s Handbook. Elsewhere, this Site is only directed at professional, institutional or qualified investors or intermediaries and is not suitable for retail or individual investors. If this Site is not directed at you, please leave the Site immediately.

Non-U.S. Persons Representation

The Site and the Information are not available to U.S. persons. As such, by accepting these Terms, you represent and warrant that you are not a U.S. person as defined under Regulation S of the U.S. Securities Act of 1933, as amended.

Non-Canadian Resident Representation

The Site and the Information are not available to Canadian residents. As such, by accepting these Terms you represent and warrant that you are not a person, corporation or partnership resident in Canada.

No Reliance

The Information has been provided by RBC GAM for informational purposes only. It is for general information only and is not, nor does it purport to be, a complete description of an investment in any products offered by RBC GAM. If there is an inconsistency between the Information and the respective offering documents, the provisions of the respective offering documents shall prevail.

This Site and the Information are provided without regard to the specific investment objectives, financial situation or particular needs of any specific recipient and does not constitute investment, tax, accounting or legal advice. Recipients are strongly advised to make an independent review with their own advisors and reach their own conclusions regarding the investment merits and risks, legal, credit, tax and accounting aspects of transactions.

Risk Warning

Past performance is not a guide to future performance. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested. Exchange rate may vary and cause the value of international investments to rise or fall.

No Warranties

RBC GAM provides the Site and the Information on an “as is, where is” basis and does not make any express or implied warranties, representations or endorsements with respect to the Site or the Information, including without limitation, warranties as to merchantability, operation, non-infringement, usefulness, completeness, accuracy, currency, reliability and fitness for a particular purpose. Further, RBC GAM does not represent or warrant that the Site will be available and meet your requirements, that access will be uninterrupted, that there will be no delay, difficulties in use, defects, incompatibility, failures, errors, omissions or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system. You have sole responsibility for taking protection and backup of data and/or equipment and for taking reasonable and appropriate precautions to scan for computer viruses or other destructive properties.

No endorsements

No endorsement or approval of any third parties of their advice, opinions, information, products or services is expressed or implied by any Information.

No Liability

Save for where applicable law would be contravened, RBC GAM is not responsible for and will not be liable to you or anyone else for any damages whatsoever (including direct, indirect, incidental, special, consequential, exemplary or punitive damages) arising out of or in connection with your use of or inability to use the Site or the Information, or any action or decision made by you in reliance on the Site or the Information, or any errors in or omissions from the Site or the Information, or any unauthorized use or reproduction of the Site or the Information, even if RBC GAM has been advised of the possibility of these damages. Your sole remedy is to discontinue using and accessing the Site or the Information.

Forward-Looking Statements

The Site may contain forward-looking statements about general economic factors which are not guarantees of future performance. Forward-looking statements involve inherent risk and uncertainties, so it is possible that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution you not to place undue reliance on these statements as a number of important factors could cause actual events or results to differ materially from those expressed or implied in any forward-looking statement. All opinions in forward-looking statements are subject to change without notice and are provided in good faith but without legal responsibility.

Electronic Communication via the Internet

Any unprotected e-mail communication over the Internet is, as with communication via any other medium (e.g. cellular phones, post office mail), not confidential, subject to possible interception or loss, and is also subject to possible alteration. RBC GAM is not responsible for and will not be liable to you or anyone else for any damages in connection with an e-mail sent by you to RBC GAM or an e-mail sent by RBC GAM to you at your request or on an ad-hoc basis.

Links/Software

Links from or to websites outside the Site are meant for convenience only. RBC GAM does not review, endorse, approve or control, and is not responsible for any sites linked from or to the Site, the content of those sites, the third parties named therein, or their products and services. Linking to any other site is at your sole risk and RBC GAM will not be responsible or liable for any damages in connection with linking. Links to downloadable material situate on or through other sites are for convenience only and RBC GAM is not responsible or liable for any difficulties or consequences associated with downloading such material. Use of any downloaded material is governed by the terms of the license agreement, if any, which accompanies or is provided with the software.

No person or company (including other financial sector related companies) may link their site to the Site without the express permission of RBC GAM.

Trademarks and Copyrights

Certain names, words, titles, phrases, logos, icons, graphics or designs or other content in the pages of the Site are trade names or trade-marks owned by Royal Bank of Canada or its subsidiaries, or trade names or trade-marks licensed to them. The trademarks are distinguished from one another and accompanied, at first-time use, with the appropriate trademark symbol: ®/TM. These symbols are keyed to their respective legend which describes the owner or licensee of the trade-mark. The display of trademarks and trade names on pages of the Site does not imply that a license of any kind has been granted to anyone else. The Information is for your personal use only. Any unauthorized downloading, re-transmission, or other copying or modification of trademarks and/or the contents of the Site may be a violation of any federal or other law that may apply to trademarks and/or copyrights and could subject the copier to legal action. The Information is protected under the copyright laws of Canada and other countries. Unless otherwise specified, no one has permission to copy, redistribute, reproduce, republish, store in any medium, re-transmit, modify or make public or commercial use of, in any form, the Information.

Applicable Law

Your use of this Site and these Terms are governed by and shall be construed in accordance with Luxembourg law.

If any provision of these Terms shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected. No term or provision shall be deemed waived and no breach excused unless such waiver or consent shall be in writing and signed by the party claimed to have waived or consented.

RBC GAM reserves the right, in its sole discretion, to change, modify, add or remove portions of these Terms at any time without notice to Site users. Similarly, RBC GAM reserves the right, in its sole discretion, to change, modify, add or remove the content of this Site, including the country-specific sections, or to terminate the Site in whole or in part. You must check the Terms periodically for changes. Any changes, modifications, or additions to, or deletions from the Terms shall be effective upon posting on this Site. If you access this Site, including the country-specific sections, after changes to the Terms are posted, you further acknowledge the Terms as changed and agree to be bound by them.