Research Analyst Declaration

I / We have read and understood the terms and conditions applicable to a research analyst as defined under regulation 2(1)(u) of the SEBI (Research Analyst) Regulations, 2014, including the fee structure.

I / We are subscribing to the research services for our own benefits and consumption, and any reliance placed on the research report provided by the research analyst shall be as per our own judgement and assessment of the conclusions contained in the research report.

I/We understand that –

• Any investment made based on the recommendations in the research report are subject to market risk.
• Recommendations in the research report do not provide any assurance of returns.
• There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report.

Declaration of the Research Analyst (RA):

• It is duly registered with SEBI as an RA pursuant to the SEBI (Research Analysts) Regulations, 2014 and its registration details are: (Registration No. INH100010013, Registration Date: July 28, 2022).
• It has the required registration and qualifications to render the services contemplated under the RA Regulations, and the same are valid and subsisting.
• Research analyst services provided by it do not conflict with or violate any provision of law, rule or regulation, contract, or other instrument to which it is a party or to which any of its property is or may be subject.
• The maximum fee that may be charged by RA is ₹1.51 lakhs per annum per family of client.
• The recommendations provided by RA do not provide any assurance of returns.

Additional Declaration (If RA is an Individual):

It is not engaged in any additional professional or business activities, on a whole-time basis or in an executive capacity, which interfere with/influence or have the potential to interfere with/influence the independence of the research report and/or recommendations contained therein.