Disclosure Statement for Wholesale Clients

Tiger Fintech (NZ) Limited ("TFNZ") has set up a framework of granting its clients wholesale client status with reference to the Financial Markets Conduct Act 2013 ("the Act").

"specified financial products" has the meaning given to it under the Act.

TFNZ currently conducts automated assessments to its clients' data and has established the following criteria to grant a client wholesale client status:

i) The aggregated payments a client made to acquire specified financial products during the 2-year period before TFNZ's day of assessment on the client's record ("transactions") is at least USD $700,000.00, and the client acknowledges that none of the other parties of these transactions are the client's associated persons according to the Financial Markets Conduct Act 2013, or

ii) At one time during the 2-year period right before a day of assessment, a client owned a portfolio of specified financial products of a value of at least USD $700,000.00 in aggregate.

TFNZ will only grant a certain client wholesale client status for the very first time if this status is expected to last for at least 6 months.

The said automated assessment is conducted daily, to grant a client wholesale client status or to extend the expiry date of their wholesale client status.

To keep TFNZ's notifications to a reasonable amount, TFNZ will not send its wholesale clients any notification for any extension to their expiry date.

TFNZ may manually grant a client wholesale client status when supporting documents of their portfolio of specified financial products held elsewhere are provided for review and approval.

A client's wholesale client status expected date could end before its expected time if the value of the basis of assessment falls under NZD $1,000,000.00 (e.g. USD $700,000.00 < NZD $1,000,000.00).

Upon the expiration of a client's wholesale client status, the client's wholesale products' holdings will not be forced to be sold, redeemed, or a wholesale product's position closed.

A client who is granted wholesale client status but does not agree with any one of TFNZ’s assessments can contact TFNZ's Client Service Team.

A client who is granted wholesale client status can choose to opt out of being a wholesale client by contacting TFNZ's Client Service Team. A client will need to be free of TFNZ wholesale product holdings before they submit their request to opt out of being a wholesale client. A client who chose to opt out of being a wholesale client, once processed will no longer be able to view TFNZ’s wholesale products' details, nor will such a client be included in TFNZ's daily automated assessment.

TFNZ reserves the right to adjust the criteria for granting a client wholesale status as long as the criteria comply with the requirements of the Act.

TFNZ's assessment and act of granting any client wholesale client status is not financial advice nor is a suggestion that any of the wholesale products made available to a client is suitable for that specific client. The range of wholesale products available for wholesale clients to trade or invest in will change from time to time, and could vary significantly in their structures, risk levels, rates of return, etc.

Warning:

New Zealand law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.

The usual rules do not apply to wholesale products made available to wholesale clients and wholesale investors. As a result, wholesale clients and wholesale investors may not receive a complete and balanced set of information. Wholesale clients and wholesale investors will also have fewer other legal protections for these investments.

A client needs to make sure that they fully understand these consequences.

Ask questions, read all documents carefully, and seek independent financial advice before committing yourself to a wholesale product.

It is an offence to provide TFNZ with a safe harbour certificate knowing that it is false or misleading in a material particular. The offence has a penalty of a fine not exceeding $50,000.

This statement does not purport to be a disclosure of all known material risks of being a wholesale client or investor under the Act, nor does it propose to have disclosed all the risks with wholesale investments. A client is responsible for reading, understanding, and agreeing to this statement and all other material made available to the client to peruse relating to a wholesale product that such client intends to invest/trade in. A client should consider the appropriateness of any information having regard to their individual objectives, financial situation or needs.

Wholesale products in general carry a high level of risk and may not be suitable for all investors.

More information can be found at: www.tigerbrokers.nz.

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