COMMERCE STREET HOLDINGS, LLC WEBSITE DISCLAIMER

This website (“Site”) is published in the United States, and is intended for distribution to and use by US residents only. None of the services, investments or funds referred to in this Site are available to persons resident in any jurisdiction where such availability or distribution would be contrary to local law or regulation.

No Advice or Solicitation

The site is designed for information purposes only and does not constitute a solicitation or offer by Commerce Street Capital, LLC, and or Commerce Street Investment Management (collectively) to buy or sell any securities, futures, options, foreign exchange or other financial instrument or to provide any investment advice or service.

Other Roles of Commerce Street

Commerce Street may, to the extent permitted by law, participate or invest in financing transactions with the issuer(s) of the securities referred to in this website, perform services for or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereon. In addition, they may make markets in the securities mentioned in the material presented in this website. Commerce Street may, to the extent permitted by law, act upon or use the information or opinions presented herein, or the research or analysis on which they are based before the material is published. Additional information is available upon request.

Disclaimer of Warranty and Limitation of Liability

Commerce Street endeavors to ensure that the information contained on this website is current, correct and complete; however, the website is provided “as is” and no warranty, express or implied, is given as to its currency, accuracy and completeness or that any returns indicated will be achieved. EXCEPT TO THE EXTENT REQUIRED BY LAW COMMERCE STREET DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES AND CONDITIONS INCLUDING, WITHOUT LIMITATION, WARRANTIES AND CONDITIONS AS TO MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Commerce Street does not warrant that this website and any content (including any third party content) will be uninterrupted or error free, that defects will be corrected or that this website, the servers from which it is made available or any connected website is free of viruses or other harmful components.

Use of this website is at user’s own risk and user assumes full responsibility and risk of loss resulting from use of or access to this website. Commerce Street shall not be liable for loss or damage of any kind whatsoever arising as a result of (i) content on this website, including third party content; (ii) any errors in or omissions from this website; (iii) use of or inability to access or use this website for any reason. To the full extent permitted by applicable law, Commerce Street shall not be liable for any loss of profits or revenue, loss of business or goodwill, loss of or damage to data or indirect or consequential loss arising from use of or access to this website, even if advised of the possibility of such loss or damage or if such loss or damage was foreseeable.

Links

This website may contain links to other third party sites. Except as otherwise indicated Commerce Street does not sponsor, endorse or approve the contents of any such sites and accepts no responsibility for information provided on any such sites by independent providers.

Corporate Status

Commerce Street Capital, LLC is a broker-dealer registered in the District of Columbia and the following states: Alaska, Arizona, Arkansas, California, Connecticut, Delaware, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming. Commerce Street Capital is member of the Financial industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), as well as registered with the Securities and Exchange Commission (SEC).

Copyrights and Trademarks

Except as may be expressly authorized, no information or material contained on this Site may be reproduced, transmitted, displayed or commercially exploited without the written consent of Commerce Street. All trademarks, service marks and logos used on this Site are trademarks or service marks or registered trademarks or service marks of Commerce Street or one of its affiliates. Use of the website does not confer any ownership rights in the Site.

General Research Disclaimers

Past performance should not be taken as an indication of guarantee of future performance and no representation or warranty, express or implied is made regarding future performance. Opinions and estimates reflect a judgment at original date of publication by Commerce Street and are subject to change. The value and income of any of the securities or financial instruments mentioned in this Site can fall as well as rise. Foreign currency denominated securities and financial instruments are subject to fluctuations in exchange rates that may have a positive or adverse effect on the value, price or income of such securities or financial instruments. Structured securities and many municipal securities are complex, often illiquid instruments, typically involve a high degree of risk and are intended for sale only to sophisticated investors who are capable of understanding and assuming the risks involved. The information on this Site has not been approved by any governmental agency or instrumentality or self-regulatory organization.

Agreements

This Disclaimer is in addition to any Commerce Street Terms and Condition of Access, Customer Agreement and/or Account Agreement that may be displayed by Commerce Street at this Site or clicked through or otherwise agreed to by any person or entity accessing this Site.