Disclaimer

Disclaimer:

Trading futures, swaps and any derivatives thereof (collectively “Commodity Interests”) involve substantial risk and are not appropriate for everyone. Past performance is not indicative of future results.

Any communication and/or attachment sent to you by Citron Commodities LLC (collectively “CITRON”) that contains market recommendations, research report, pricing reports and/or other information (collectively “Market Information”) regarding Commodity Interests: (i) is a solicitation to enter into a transaction involving Commodity Interests; (ii) is based upon information obtained from sources believed by CITRON to be reliable; (iii) may be based solely on the opinion of CITRON; (iv) may be incomplete; and/or (v) may be unverified. CITRON makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any Market Information furnished to you. Further, changes in market conditions may affect the Market Information provided to you by CITRON. Please note that Market Information does not account for transaction costs, such as commissions, or slippage. Actual trades made in reliance on any price contained in Market Information will result in transaction costs and may incur slippage, which will adversely affect the value of the trade.

Please contact CITRON for firm bids and offers regarding any Commodity Interests that you may execute through CITRON. You further understand that: (i) CITRON may only act as your agent and shall not act as principal in any transaction; (ii) until such time that CITRON has received a binding authorization from counterparty to execute an order, any trade data obtained by citron from a counterparty: (a) represents an indication of interest; and (b) may or may not reflect actual trade data available to you.

This communication and any attachments are intended only for the individual and/or company to whom it is addressed and may contain information which is privileged, confidential and prohibited from disclosure or unauthorized use under applicable law. If you are not the intended recipient of this communication, you are hereby notified that any use, dissemination, or copying of this e-mail or the information contained herein this e-mail is strictly prohibited by the sender. If you have received this transmission in error, please return the material received to the sender and delete all copies from your system.

You agree and acknowledge that all communications with CITRON are monitored and all telephone conversations between you and CITRON may be electronically recorded with or without the use of an automatic tone-warning device. You further agree to the use of such recordings and transcripts thereof as evidence in connection with any dispute or proceeding that may arise involving you or CITRON. You understand that CITRON may destroy such recordings at regular intervals in accordance with CITRON’s established business procedures and in accordance with Applicable Law.