Disclosures

1. About DINAMICA

DINAMICA is operated by 1013millibar Europe, a Swedish sole proprietorship.

DINAMICA is a financial analysis and research platform that organizes financial, market and analyst information and produces proprietary analytical metrics and classifications.

DINAMICA combines information from third-party data sources with proprietary analytical methodologies to help users explore, compare and understand different dimensions of companies and their market and analyst context.

DINAMICA's analytical modules evaluate distinct dimensions independently. A classification produced by one module should therefore not be interpreted as an overall assessment of a security or as a conclusion derived from all other DINAMICA analytics.

2. Nature of the Service

DINAMICA provides financial analysis and research tools designed to organize, analyze and present financial, market and analyst information through proprietary metrics and analytical classifications.

DINAMICA's analytical outputs evaluate defined aspects of a company, analyst consensus, market-price context and other available information. These outputs are analytical classifications and should not be interpreted as instructions to buy, sell or hold any security.

DINAMICA does not determine whether a security is suitable or appropriate for a particular user. Company-level analytical metrics and classifications are calculated independently of an individual user's portfolio holdings, financial situation, investment objectives, investment horizon or risk tolerance.

Users may personalize how they interact with the platform, including by selecting companies, creating favorites, maintaining portfolios, applying filters, sorting data, saving views or configuring analytical thresholds and alerts. Such user-defined settings organize or select information according to criteria chosen by the user; they do not convert DINAMICA's company-level analytics into personalized investment recommendations.

Information and analytical outputs provided through DINAMICA are intended to form part of a user's own research process. The interpretation of DINAMICA analytics and any investment decision made on the basis of, or with reference to, information available through the platform remain the responsibility of the user.

3. DINAMICA Analytical Classifications

DINAMICA calculates proprietary analytical metrics and classifications using financial, market and third-party analyst data. Each metric and classification is designed to evaluate a defined analytical dimension and should be interpreted according to the specific methodology and context of that dimension.

DINAMICA currently organizes its principal company-level analytics into distinct analytical areas, including Consensus, Opportunity, Opportunity Health and Fundamental Quality.

Consensus. analyzes information derived from third-party analyst recommendations. Analyst Rating represents the underlying analyst consensus, while Consensus State is a proprietary DINAMICA classification derived from the bias-adjusted analyst consensus and consensus momentum. Analyst Rating and Consensus State are distinct measures and may therefore differ.

Opportunity. evaluates current analytical potential using the DINAMICA Opportunity methodology. Opportunity Score is the numerical output of this analysis, while Potential represents the corresponding classification range. Opportunity Score and Potential do not represent an expected return, a probability of gain or an instruction to buy, sell or hold a security.

Opportunity Health. evaluates the state of remaining potential implied by the relationship between the current market price and the median analyst target. Remaining Median Upside (RMU) measures the percentage distance between the current market price and the median analyst target, while Status classifies that remaining potential according to the DINAMICA Opportunity Health methodology. RMU and Opportunity Health do not represent a DINAMICA price forecast or expected investment return.

Fundamental Quality. evaluates selected dimensions of a company's fundamentals through Growth, Business Quality and Financial Resilience. Fundamental Quality Score and its corresponding Class describe the results of this analysis. They do not represent an assessment of whether a security is attractively priced, suitable for a particular user or an investment that should be bought, sold or held.

Each DINAMICA analytical area is designed to evaluate a different dimension. Outputs from different analytical areas may therefore point in different directions without being inconsistent. DINAMICA does not combine these classifications into an overall investment rating, recommendation or proprietary buy, sell or hold conclusion.

Analytical metrics and classifications should be interpreted together with their definitions, underlying data, applicable limitations and the date or analytical snapshot to which they relate. A classification describes the result of the relevant DINAMICA methodology for that analytical dimension at that point in time; it does not by itself determine an investment decision.

4. Analyst Recommendations and Price Targets

DINAMICA uses analyst recommendations, price targets and related analyst information obtained from third-party data sources as inputs to certain analytical features of the platform.

Analyst recommendations, including classifications such as STRONG BUY, BUY, HOLD, SELL and STRONG SELL, represent the views or assessments of the underlying analysts and do not constitute recommendations issued by DINAMICA. Where analyst recommendations are displayed or incorporated into DINAMICA analytics, their origin as analyst-derived information should be distinguished from proprietary DINAMICA classifications.

Analyst price targets, including Low, Median and High target values presented by DINAMICA, are derived from third-party analyst estimates. They are not price targets, fair values or forecasts produced by DINAMICA. Analyst targets reflect estimates or opinions about future security values and may differ substantially between analysts, change over time or fail to be reached.

DINAMICA may organize, aggregate and process analyst recommendations and price targets to calculate proprietary analytical metrics and classifications. The use of analyst information as an input does not mean that DINAMICA adopts, endorses or independently verifies the investment view or price expectation expressed by any individual analyst or by the analyst consensus.

Remaining Median Upside (RMU) is calculated by DINAMICA from the relationship between the current market price and the median analyst target. RMU represents the percentage distance between those two values at the relevant point in time. It does not represent an expected return, a probability that the market price will increase, or a DINAMICA forecast that the median analyst target will be reached.

Analyst recommendations and price targets may be revised, reiterated, withdrawn or otherwise changed as analysts update their views or as new information becomes available. The number of analysts contributing to a consensus or target distribution may also vary between companies and over time.

Analyst information displayed by DINAMICA should therefore be interpreted with reference to its source, coverage, timing and applicable limitations. Historical analyst recommendations and price targets reflect information available for the relevant period and should not be interpreted as current analyst views unless identified as such.

5. Data Sources

DINAMICA uses financial, market and analyst information obtained from third-party data sources to provide information and to calculate certain proprietary analytical metrics and classifications.

Depending on the analytical feature, these inputs may include market prices, company and security information, financial and fundamental data, analyst recommendations, analyst price targets, analyst actions and other market- or company-related information.

DINAMICA may organize, normalize, aggregate, compare and process third-party data before it is presented through the platform or used as an input to proprietary DINAMICA methodologies. A DINAMICA metric or classification derived from third-party data is therefore distinct from the underlying source data on which it is based.

Third-party data may differ in availability, coverage, update frequency, reporting conventions and effective date. Information relating to different companies, securities, analysts or data categories may consequently not always be available for the same period or updated at the same time.

The availability of a DINAMICA analytical metric or classification depends on the data required by the relevant methodology. Where required inputs are unavailable or insufficient, DINAMICA may identify the corresponding metric or classification as unavailable rather than infer or substitute information that is not supported by the available data.

DINAMICA describes external inputs by data type throughout its product and methodology materials. Specific data providers may be identified separately where appropriate or where required for attribution, licensing, contractual, legal or transparency purposes.

The use of a third-party data source does not imply that the source endorses DINAMICA, its methodologies or its proprietary analytical outputs. Similarly, DINAMICA's use or processing of third-party information does not mean that DINAMICA adopts any opinion, recommendation, estimate or forecast contained in the underlying data.

6. Market Data and Data Timing

Information available through DINAMICA may originate from different sources and may be collected, updated or processed at different times. As a result, data displayed together within the platform may not always share the same effective date or timestamp.

Market prices used by DINAMICA represent the price data available for the relevant analytical calculation or display. Depending on the data source, update schedule and analytical process, a market price used in a DINAMICA metric or classification may not represent the current market price at the exact time the user views the platform.

Analyst information has its own timing characteristics. The date associated with an analyst action represents the date attributed to that action in the underlying data, while the time at which the information is collected or processed by DINAMICA may be different. The presence of an analyst action in DINAMICA therefore does not necessarily mean that the action occurred at the time it became visible on the platform.

DINAMICA analytical metrics and classifications are calculated using the inputs available for the relevant analytical snapshot. Where an analytical output depends on market price, analyst recommendations, analyst targets or other time-sensitive inputs, subsequent changes to those inputs may cause the analytical output to change when a new snapshot is calculated.

Timestamps or update information displayed within DINAMICA are intended to help users identify the relevant timing of data and analytical outputs. Where material to interpretation, DINAMICA may distinguish between the date of an underlying event or source observation, the time at which data was collected or updated, the market-price reference time and the time at which a DINAMICA analytical snapshot was calculated.

Historical DINAMICA information should be interpreted in relation to the data and analytical snapshot applicable to the relevant period. A historical value or classification describes the information represented for that snapshot and should not be interpreted as reflecting data or conditions that became available only later.

7. Methodology and Methodology Changes

DINAMICA uses proprietary methodologies to calculate its analytical metrics and classifications. These methodologies are designed to evaluate defined analytical dimensions using selected financial, market and third-party data.

Information provided about a DINAMICA methodology is intended to explain the purpose of the analysis, the principal types of inputs used and the appropriate interpretation of its outputs. Unless otherwise required, DINAMICA may not disclose all formulas, weights, thresholds, transformations or other implementation details underlying its proprietary methodologies.

DINAMICA may review and modify its methodologies over time. Changes may include adjustments to data inputs, calculations, weighting, thresholds, classification ranges, normalization methods or other analytical components. Such changes may be introduced to improve the methodology, reflect changes in available data, correct identified issues or maintain consistency with the analytical purpose of the relevant metric or classification.

A methodology change may affect a DINAMICA metric or classification even when the underlying company, market or analyst information has not changed. Accordingly, differences between analytical outputs calculated under different methodology versions should not automatically be interpreted as changes in the underlying company or market conditions.

Where methodology changes are material to the interpretation or comparability of analytical outputs, DINAMICA intends to maintain appropriate internal traceability of the methodology version or analytical logic associated with those outputs and, where relevant, provide information necessary to understand limitations in historical comparability.

Historical information may consist of outputs preserved as calculated at the relevant time or, where expressly identified, outputs recalculated using a later methodology. Recalculated historical information should not be interpreted as a classification that was necessarily available to users at the original historical date.

Corrections to source data, data processing or analytical calculations may also result in changes to previously calculated information. Where a correction is material to the interpretation of historical DINAMICA analytics, DINAMICA may identify or otherwise document the correction as appropriate.

A change in methodology, classification terminology or analytical presentation does not change the fundamental interpretation boundary of DINAMICA analytics: each metric or classification continues to evaluate its defined analytical dimension and should not be interpreted as an instruction to buy, sell or hold a security or as a personalized investment recommendation.

8. Limitations of Analytical Outputs

DINAMICA analytical metrics and classifications are based on defined methodologies and on the information available for the relevant analytical snapshot. They provide structured analytical perspectives on specific dimensions of a company, market context or analyst consensus, but they cannot capture every factor that may affect a security, company or future market outcome.

DINAMICA analytical outputs are not predictions of future security prices, investment returns or market performance. A score, classification or change in classification does not indicate that a particular market outcome will occur and should not be interpreted as expressing a probability of gain or loss unless a metric is expressly defined to measure such a probability.

The usefulness and interpretation of an analytical output depend in part on the availability, quality, coverage and timing of the underlying data. Information may be incomplete, delayed, revised, corrected or unavailable, and different data sources may use different reporting conventions or update schedules. DINAMICA may therefore be unable to calculate certain metrics or classifications for some companies or periods.

Analytical methodologies necessarily select and structure particular information. Factors not included in a methodology may nevertheless be material to a company or security. A DINAMICA metric or classification should therefore be understood as an assessment of its defined analytical dimension rather than as a complete assessment of all factors that could affect an investment.

Historical values, classifications, relationships and changes do not establish that similar conditions or outcomes will occur in the future. Relationships observed between analyst information, market prices, fundamental data or DINAMICA classifications may change over time and should not be interpreted as establishing a causal relationship unless expressly supported by the relevant analysis.

Different DINAMICA analytical areas may produce classifications that appear to point in different directions because they evaluate different dimensions using different inputs and methodologies. Such divergence does not necessarily indicate an error or inconsistency and should not be interpreted as requiring DINAMICA to resolve the outputs into a single overall conclusion.

Analyst recommendations and price targets used within certain DINAMICA analytics are third-party opinions and estimates. Analysts may differ materially in their assumptions and conclusions, and consensus measures may change as analyst coverage, recommendations or targets change. A median analyst target, analyst consensus or DINAMICA metric derived from analyst information does not establish that the corresponding expectation will be realized.

Fundamental analysis is also subject to limitations. Reported financial information may be revised or restated, accounting measures may not be directly comparable across companies or periods, and quantitative measures may not capture all qualitative, competitive, operational or other factors relevant to a company's development.

Market conditions and security prices can change rapidly, including in response to information or events not reflected in the data used for the latest DINAMICA analytical snapshot. An analytical output may therefore become less representative of current conditions before a new snapshot is calculated.

No individual DINAMICA metric or classification, and no combination of DINAMICA analytical outputs, should be interpreted as providing a complete assessment of a security or as determining an investment decision. Users should interpret each analytical output according to its defined purpose, underlying data, timing and applicable limitations.

9. Portfolio Analytics

DINAMICA may allow users to record and monitor securities positions and transactions and to view company-level analytical information within the context of their portfolio.

Portfolio information may include user-specific data such as securities held, number of shares, transaction prices, average cost, cost basis, current market value, portfolio weight, realized or unrealized returns and other measures derived from transactions or positions recorded by the user.

DINAMICA company-level analytical metrics and classifications, including Consensus, Opportunity, Opportunity Health and Fundamental Quality, are calculated independently of whether a user owns a security and independently of the size, cost, performance or other characteristics of the user's position. The presence of a security in a user's portfolio does not alter the corresponding company-level DINAMICA analytics.

Accordingly, a DINAMICA classification displayed within a portfolio retains the same analytical meaning that it has elsewhere on the platform. For example, an Opportunity Health Status describes the state of remaining potential under the relevant DINAMICA methodology; when displayed for a security held in a portfolio, it does not become a recommendation to hold, reduce or sell that position.

Portfolio-specific calculations such as return, profit or loss, market value and portfolio weight describe characteristics of the user's recorded positions. These calculations do not by themselves represent an assessment by DINAMICA of whether a position is appropriate, whether its size is suitable for the user, or whether the user should increase, reduce or close the position.

DINAMICA may allow users to sort, filter, organize or monitor portfolio holdings using company analytics, position data or criteria selected by the user. It may also notify users of changes in company-level analytical metrics, classifications or other information relating to securities contained in their portfolio. Such functionality is intended to organize and monitor information and does not convert the underlying analytics or user-selected criteria into portfolio-specific investment recommendations.

Transactions recorded in DINAMICA, including transactions identified as BUY or SELL, represent transactions entered or recorded by the user. The use of BUY or SELL in transaction records describes the transaction type and should not be interpreted as a recommendation issued by DINAMICA.

DINAMICA does not use a user's portfolio holdings, transaction history or position performance to modify its company-level analytical classifications or to generate proprietary instructions to buy, sell, hold, add to, reduce or exit a position.

Any interpretation of company analytics, portfolio information or position-level calculations in relation to an investment decision remains with the user.

10. Conflicts of Interest and Commercial Relationships

DINAMICA is designed to maintain a separation between its analytical methodologies and commercial relationships or other interests that could create an incentive to influence analytical outcomes.

DINAMICA does not permit an issuer, data provider, advertiser, commercial partner or other third party to pay for, sponsor or otherwise obtain a more favorable proprietary analytical score, classification or analytical outcome. Proprietary DINAMICA analytics are intended to be calculated according to the applicable methodology and the data used by that methodology.

Where DINAMICA has a commercial relationship with a data provider or other service provider, that relationship does not imply that the provider endorses DINAMICA's proprietary methodologies or analytical outputs. The selection or use of a data provider does not, by itself, determine the analytical conclusion produced by DINAMICA from the relevant data.

If DINAMICA introduces advertising, sponsorship, promoted content, referral arrangements or other commercial content, such content should be identifiable as commercial in nature and separated from proprietary analytical classifications. Payment or other commercial consideration should not determine a company's DINAMICA score, classification or analytical treatment.

DINAMICA does not intend to provide issuers or other interested parties with the ability to purchase preferential analytical treatment or a more favorable position within analytical results. Any paid visibility, promotional placement or commercial relationship, if introduced, should be distinguished from analytical results and should not be represented as resulting from DINAMICA's analytical methodologies.

DINAMICA may disclose financial interests, ownership interests, commercial relationships or other circumstances involving DINAMICA or relevant persons where such interests or relationships are material to the interpretation of content or where disclosure is required by applicable law or regulation.

If DINAMICA or persons involved in producing or controlling analytical content have a material interest in a security or issuer that is the subject of that content, any disclosure and other measures required in relation to that interest should be determined in accordance with the applicable legal and regulatory requirements.

Commercial arrangements, monetization mechanisms and product integrations should not convert a DINAMICA analytical classification into a transaction solicitation or recommendation. In particular, commercial functionality should remain distinguishable from the analytical basis and meaning of DINAMICA metrics and classifications.

11. Investment Risk

Investing in securities involves risk. The market value of a security may increase or decrease, and investors may lose some or all of the capital invested.

Security prices may be affected by a wide range of factors, including company-specific developments, financial performance, competitive conditions, industry trends, interest rates, economic conditions, market sentiment, liquidity, geopolitical events, regulatory developments and other circumstances that may not be reflected in the information or analytical outputs available through DINAMICA.

Analyst recommendations, analyst price targets and DINAMICA analytical metrics and classifications do not eliminate or quantify all of these risks. A favorable analyst consensus, a high Opportunity Score, remaining upside relative to an analyst target, or a strong Fundamental Quality assessment does not mean that a security will increase in value or that losses cannot occur.

Similarly, an analyst price target represents an estimate rather than a guaranteed future price. Market prices may never reach an analyst target, may move materially above or below it, or may change direction before or after the target is revised. The existence of positive Remaining Median Upside does not imply that the corresponding upside will be realized.

Different securities and investment strategies may involve materially different types and levels of risk. DINAMICA company-level analytics do not determine whether those risks are appropriate for a particular user's financial situation, investment objectives, investment horizon, portfolio composition or risk tolerance.

Historical market data, analyst information and DINAMICA analytical outputs describe past or previously observed conditions. Historical relationships, classifications or outcomes do not ensure that comparable conditions or outcomes will occur in the future.

Users remain responsible for evaluating the risks relevant to their own circumstances and for determining whether and how information available through DINAMICA should form part of their investment research and decision-making process.

12. Legal / Regulatory Information

DINAMICA provides financial analysis and research functionality as described in these Disclosures. The availability of the platform, particular features or specific types of information may vary depending on applicable legal, regulatory, contractual or data-licensing requirements.

Nothing in the presentation of DINAMICA analytical metrics, classifications or research functionality is intended to alter the nature or defined analytical purpose of those outputs. References to securities, companies, analyst recommendations, analyst price targets or other financial information should be interpreted in accordance with the definitions and limitations described in these Disclosures.

DINAMICA does not issue proprietary instructions to buy, sell or hold securities through its analytical classifications. DINAMICA company-level analytics are not calculated on the basis of an individual user's financial situation, investment objectives, investment horizon, risk tolerance or portfolio holdings and are not intended to determine whether a security is suitable or appropriate for a particular user.

Certain information available through DINAMICA originates from third-party sources and may be subject to separate ownership, licensing, attribution, distribution or use restrictions. The availability and presentation of such information may therefore be modified where necessary to comply with applicable contractual, legal or regulatory requirements.

Access to DINAMICA or to particular functionality may be restricted, modified or discontinued in a jurisdiction where DINAMICA determines that providing the relevant service or information would require additional authorization, registration, licensing, contractual rights or other measures that have not been implemented.

These Disclosures describe the nature, interpretation and limitations of DINAMICA's information and analytical functionality. They should be read together with the applicable Terms of Service, Privacy Policy and any additional notices or disclosures presented in connection with particular features, data sources or jurisdictions.

Legal and regulatory requirements may differ between jurisdictions and may change over time. DINAMICA may therefore update these Disclosures, its product functionality or the availability of particular services where appropriate to reflect changes in the platform, its data sources, commercial arrangements or applicable requirements.

The legal and regulatory characterization of DINAMICA and its services is determined by applicable law and the facts and circumstances of the services actually provided. Nothing in these Disclosures should be interpreted as a representation that DINAMICA has, or does not have, any particular regulatory status, authorization, registration or exemption.

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Last updated: 27 September 2026

Effective date: 27 September 2026