Risk Disclosure Document

(a) Capital risk. The value of investments can fall as well as rise. You may lose part or all of your invested capital. Hattword does not guarantee the safety of capital or any specific outcome.

(b) Past performance. Past performance of any market, security, fund, manager, or strategy is not a reliable indicator of future performance.

(c) Market risk. Prices of financial instruments are affected by macroeconomic conditions, monetary policy, geopolitical developments, market sentiment, and many other factors. Sharp declines can occur with little or no warning.

(d) Volatility risk. Some asset classes (including equities, certain fixed-income instruments, alternative products, and digital-asset-linked products where offered) can be highly volatile. High volatility can lead to substantial losses over short periods.

(e) Liquidity risk. You may be unable to sell, redeem, or transfer an investment when you wish to, or only at a price materially below its theoretical or last-traded value. Liquidity risk is particularly acute in private-market, pre-IPO, OTC, structured, alternative, and certain fixed-income products.

(f) Concentration risk. Holding a small number of positions, or significant exposure to a single security, sector, geography, currency, manager, or counterparty, can amplify losses.

(g) Leverage risk. Where leverage is used in a product (whether explicitly or via the use of derivatives or structural features), losses can exceed the initial investment in extreme cases and risk is amplified.

(h) Inflation and real-return risk. Returns may not keep pace with inflation, eroding the real (purchasing power) value of your investments.

(i) Operational and technology risk. Technology failures, cyberattacks, data corruption, outages of the Platform, the Executing Broker, exchanges, or other intermediaries may delay or impair your ability to transact, access information, or receive payments.

(a) Currency risk. Investments denominated in a currency other than the UAE Dirham (AED) expose you to exchange-rate fluctuations. Even if the underlying asset performs well, currency depreciation can reduce or eliminate your returns when measured in AED.

(b) Country risk. Political, regulatory, fiscal, legal, social, and economic conditions in the country of the issuer or market can change adversely. Capital controls, sanctions, or expropriation can restrict your ability to repatriate funds or hold assets.

(c) Tax risk in foreign jurisdictions. Many jurisdictions levy withholding taxes, transaction taxes, and other duties on holdings or transactions by non-residents. Tax treatment can change retrospectively.

(d) Settlement and time-zone risk. Cross-border settlement may take longer than UAE-domestic settlement. Differences in market hours and time zones can delay execution and access to information.

(e) Information asymmetry risk. Information about foreign markets, foreign issuers, and foreign products may be less timely, less complete, or less reliable than information about UAE-listed instruments. Translations and disclosures may not match domestic standards.

(f) Regulatory and supervisory risk. Foreign regulators may not provide investor protections equivalent to those available in the UAE. Recourse against foreign issuers, custodians, and intermediaries may be more limited and more expensive than recourse against UAE-domiciled counterparties.

(a) Hattword is not the manufacturer. Hattword distributes third-party financial products on behalf of Product Partners. Hattword does not act as the principal, issuer, custodian, or guarantor of any Distributed Product, and does not underwrite, guarantee, or warrant the performance, solvency, or conduct of any Product Partner.

(b) Product Partner credit risk. A Distributed Product is exposed to the credit, operational, and reputational risk of the relevant Product Partner (and where applicable its custodian, registrar, administrator, prime broker, and counterparties). Failure of any of these parties may result in delays, loss, or impairment.

(c) Product Partner terms prevail. Each Distributed Product is governed by its own offering documents and Product Partner terms (eligibility, lock-ins, gates, redemption cycles, fees, dispute mechanisms, governing law). You must read the Product Partner documents carefully. They may differ from the Customer Documents and, in respect of the relevant product, will prevail over them.

(d) Lock-in, gate, and redemption restrictions. Many alternative, private-market, hedge-fund, and structured products have multi-year lock-ins, redemption notice periods, gates, side-pockets, suspension provisions, and the ability to pay out in kind. You may not be able to exit when you want to.

(e) Valuation uncertainty. Private-market, pre-IPO, OTC, alternative, and certain structured products may not have observable market prices. Valuations may be infrequent, may rely on the manager's or sponsor's models, may differ materially from realisable value, and may be revised retrospectively.

(f) Capital calls and contingent obligations. Some private-market products require investors to commit to future capital calls or to honour clawback or recall provisions. Failure to meet such calls may result in forfeiture, dilution, or other penalties.

(g) Concentration with sponsors. Sponsors of alternative products may have concentrated positions, related-party transactions, or use leverage. These features increase risk.

(h) Limited transferability. Many Distributed Products are non-transferable or transferable only with sponsor consent and subject to restrictions. Secondary markets, where they exist, may be illiquid and trade at significant discounts to net asset value.

(a) Issuer / bank credit risk. Bonds, notes, and term deposits are exposed to the credit risk of the issuer or bank. Default can result in partial or total loss.

(b) Interest-rate risk. Bond prices fall when interest rates rise. Long-duration bonds are more sensitive to interest-rate changes.

(c) Reinvestment risk. Coupon and principal proceeds may have to be reinvested at lower prevailing rates.

(d) Call and prepayment risk. Bonds and structured notes may be called or prepaid early, particularly when rates fall, reducing expected returns.

(e) Structured-product specific risk. Returns from structured products depend on the performance of an underlying index, basket, or reference asset and on contractual barriers, knock-ins, knock-outs, autocalls, and other features. Outcomes can be highly path-dependent and may be unfavourable even where the underlying performs broadly in line with expectations.

(f) Liquidity for structured products. Secondary-market liquidity is typically poor; bid-offer spreads can be wide; the issuer's marks may not match realisable value.

(g) Term deposits. Returns are subject to applicable terms, early-withdrawal penalties, and the ongoing solvency of the issuing bank. Deposit-insurance arrangements, where applicable, may not fully cover your deposit.

(a) Cash and securities transacted through the Platform are held by the Executing Broker (Al-Dar Shares and Bonds LLC, or such other CMA-licensed broker as Hattword may appoint), the relevant Product Partner, or their custodians and sub-custodians, in accordance with the rules applicable to those entities.

(b) Hattword does not hold customer money or customer securities and is not responsible for the conduct, errors, omissions, insolvency, or default of the Executing Broker, custodians, sub-custodians, or any Product Partner.

(c) In the event of insolvency or default of the Executing Broker, custodians, sub-custodians, or Product Partner, your rights and recourse will be governed by the laws of the relevant jurisdiction. Recovery may be partial, delayed, or unavailable.

(d) Cross-border custody arrangements introduce additional risks, including different segregation regimes, different bankruptcy frameworks, and the possible interposition of intermediaries between you and the underlying security.

(a) You are solely responsible for all taxes, duties, and levies applicable to you and your transactions.

(b) Tax laws and regulations (in the UAE and abroad) are subject to change, possibly with retrospective effect. Tax treatment depends on individual circumstances.

(c) UAE residents may be subject to FATCA and CRS reporting. You agree to provide all information and documentation required for such reporting.

(d) Hattword does not provide tax advice. You should consult an independent tax adviser.

(e) Regulatory and licensing changes may at any time affect your ability to transact, hold, or repatriate investments.

(a) Where Hattword provides investment advice, recommendations are based on the information you provide. You must provide accurate, complete, and current information and must promptly update Hattword on any material change in your circumstances.

(b) Even where Hattword has assessed suitability, the ultimate decision to invest, hold, or redeem rests with you. You confirm that you are capable of evaluating the merits and risks of any investment and of bearing the economic consequences.

(c) Hattword's recommendations are non-discretionary unless expressly stated otherwise in writing.

(d) You should not invest in any product, and in particular in any private-market, pre-IPO, OTC, alternative, structured, or leveraged product, unless you fully understand the product, can afford to bear the loss of your entire investment, and are able to bear illiquidity for the relevant period.

(a) No statement made by Hattword, its representatives, or in any marketing material should be interpreted as a guarantee, warranty, or assurance of any return, capital protection, yield, or outcome.

(b) UAE deposit insurance, investor protection, or compensation schemes that may exist in respect of UAE-domestic banks or markets may not be available in respect of foreign products, foreign brokers, foreign custodians, or foreign exchanges accessed through the Platform.

(a) you have read and understood this Risk Disclosure Document;

(b) you have, where appropriate, sought independent professional advice;

(c) you accept the risks described in this RDD and in the offering documents of each Distributed Product;

(d) you are entering into the transaction of your own volition and on your own responsibility;

(e) you understand that Hattword's role is limited to investment advisory and distribution, and that execution, clearing, settlement, and custody are performed by the Executing Broker and (for Distributed Products) by the relevant Product Partner and its service providers.