Market Data Disclaimer

1. Certain information on the websites operated by pafin Inc. (the “Company”) (the “Websites”) is based on information provided by the Tokyo Stock Exchange and MINKABU SOLUTION SERVICES, Inc. (collectively, “Information Providers”). Please note the following points in handling the information provided by the Information Providers.

   • The intellectual property rights of the information provided by the Information Providers belong to the Information Providers or a party designated by the Information Providers, and any act of using or processing the information for commercial purposes; accumulating, editing or processing the information; redistributing the information on a medium other than the terminal used to obtain such information; processing or using the information for the purpose of providing such information to a third party; or providing the information to a third party is strictly prohibited.

   • While the Company is taking all possible measures to ensure the correctness of the information posted on the Websites, the Company and the Information Providers do not warrant and will not examine/confirm the accuracy, reliability or completeness of such information.

   • Even if you suffer any damage based on the information provided on the Websites, the Company and the Information Providers will not be liable in any way for such damage.

   • Communication of information may be inevitably delayed or interrupted due to technically unavoidable reasons.

   • The provision of information may be terminated without notice or the provided information may be changed due to reasons of the Information Providers or the information source.

2. In regards to the content on the Websites:

   • The information contained on the Websites and the content provided by its users is not intended as, and shall not be understood or construed as, financial and/or investment advice.

   • This information is intended to be used and must be used for informational purposes only.

   • The Ideas and Strategies found on the Websites are not intended to solicit you to make investments, or for the Company, nor any of its users, to make investment decisions on your behalf.

   • The information on the Websites is not a substitute for financial advice from a professional who is aware of the circumstances of your individual situation.

   • Past performance of Ideas and Strategies is not a guarantee of future return, nor is it indicative of future performance.

   • You are responsible to independently research and verify any information that you find on the Websites and wish to rely upon, whether for the purpose of making an investment decision or otherwise.