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This document has been prepared and issued by HSBC Bank Middle East Limited, regulated by the Central Bank of the U.A.E for the purposes of this promotion and lead regulated by the Dubai Financial Services Authority and is a member of the HSBC group of companies (the “HSBC Group”). Distributed by HSBC Bank Egypt S.A.E., P.O. Box 124, Maadi, Cairo © Copyright HSBC Bank Middle East Limited 2018. ALL RIGHTS RESERVED. No part of this document may be reproduced, stored, distributed or transmitted in any form without prior written permission of HSBC Bank Middle East Limited. Dated: October 2018 HSBC Saudi Arabia is authorised and regulated by the Capital Markets Authority, license number 05008-37 and licensed to undertake investment banking activity within the Kingdom of Saudi Arabia.

The Saudi British Bank (SABB), a Saudi Joint Stock Company, was established in 21 January 1978 and is an associate of the HSBC Group. SABB is regulated by the Saudi Arabian Monetary Agency.

The material is neither an offer to sell, purchase or subscribe for any investment nor a solicitation of such an offer or investment advice nor a financial promotion. It is intended for the use of institutional and professional customers and is not intended for the use of retail customers. The information provided has not been prepared taking into account the particular investment objectives, financial situation and needs of any particular recipient (the “Recipient”). As a result, Recipients using this information should assess whether it is appropriate in the light of their own individual circumstances before acting on it.

This document is based on information obtained from sources HBME believes to be reliable but which have not been independently verified. Any charts and graphs included are from publicly available sources or proprietary data. Except in the case of fraudulent misrepresentation, no liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. HBME is under no obligation to keep current the information in this document.

You are solely responsible for making your own independent appraisal of and investigations into the products, investments and transactions referred to in this document and you should not rely on any information in this document as constituting investment advice. No member of the HSBC Group is responsible for providing you with legal, tax or other specialist advice and you should make your own arrangements in respect of this accordingly. The issuance of and details contained in this document, which is not for public circulation, does not constitute an over or solicitation for, or advice that you should enter into, the purchase or sale of any security, commodity or other investment product or investment agreement, or any other contract, agreement or structure whatsoever. This document is intended for the use of clients who are professional clients and is not intended for retail clients (as such terms may be defined by any relevant regulatory body). This document is intended to be distributed in its entirety. Reproduction of this document, in whole or in part, or disclosure of any of its contents, without prior consent of HBME or any associate, is prohibited