Faze Three Ltd. — Interim / Quarterly Report 2026

Nov 13, 2025

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November 13, 2025

To,

BSE Limited Department of Corporate Services, P. J. Towers, Dalal Street, Mumbai – 400 001. Scrip Code: 530079	National Stock Exchange of India Limited Listing Compliance Department, Exchange Plaza, Plot No. C/ 1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051. Symbol: FAZE3Q

Dear Sir/Ma’am,

Sub: Disclosure of information pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In compliance with Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Company’s presentation on the Un-Audited Financial Results (Standalone & Consolidated) of the Company for the second quarter & half year ended September 30, 2025.

You are requested to kindly take the same on record and bring it to the notice of your constituents.

Thanking you,

Yours Sincerely, For Faze Three Limited

Akram Digitally signed by Akram Hasan Sati Hasan Sati Date: 2025.11.13 20:24:42 +05'30'

Akram Sati Company Secretary & Compliance Officer M. No. A50020

FAZE THREE LIMITED (CIN: L99999DN1985PLC000197) Regd. Office: Survey 380/1, Khanvel Silvassa Road, Dapada, Silvassa – 396 230, UT of D&NH Corporate Office: 63/64, 6[th] Floor, Wing C, Mittal Court, Nariman Point, Mumbai - 400021. Tel. : 91 (22) 43514444, 66604600 * Fax : 91 (22) 24936811 * E-mail : cs@fazethree.com * Website : www.fazethree.com

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Nov 13, 2025

Financial Results for the quarter and half year ended Sept 30, 2025 & Company presentation

1

About the Company

Technical & Home Textiles Products: Floor coverings (Bathmats / Rugs – Rubber backed),

Engaged in manufacturing of Technical & Home Textiles products

Performance & Outdoor Home Textiles made of micro polyester, Cushions, Top of the Bed Products, Blankets, Curtains, Accessories, etc.

Direct Exports to Large Retailers in USA, UK & EUR region. Over 90% Revenue is Exports only. Visit http://www.fazethree.com/ for more details

Handloom Home Textiles Products : Bathmats, Accent Rugs, Throws, Cushions, Powerloom rugs, Accessories, etc.

8 factory locations including captive process houses. Factory Locations: Silvassa (2) (UT of DN&DD) and Vapi (1) (Guj.) for Home & Technical China plus One: Eureka moment this decade for above categories akin to Sheets and Textiles. Panipat (4) (Haryana) for Handloom Home Textiles. (1) in Aurangabad, Towels in 2008-09 wherein India is leader today aided by move from China Maharashtra PLI scheme for MMF in India is recognition to the opportunity, will build optimum supply During the year, the company added office cum Showroom location in New York, USA to chain for company’s products accelerate reach and efforts towards growing the business and new product categories

PLI scheme for MMF in India is recognition to the opportunity, will build optimum supply chain for company’s products

Established in 1985 Listed in 1995 Focused on Home & Technical Textiles manufacturing since its Inception

Factories built and operated as per globally mandated / acceptable standards of infrastructure and operation

Company has capability to offer every product other than sheets and towels under Home Textile segment. Currently floor covering segment is the dominant product category

Management Team Consists of Founder / Promoters, Professionals/CXO’s heading core functions in each factories

Inhouse capability for Design, Development & Innovations across all the product offerings Vertically integrated operations for all products starting from Yarn to finished product / merchandise

Rated A/A1(stable) for Long term/Short term reaffirmed by CARE ratings (Aug 24)

Equal capabilities, expertise & share between Cotton & Polyester /MMF products currently. Share of Polyester/ MMF expected to rise in future given the global trend

2

Competition / Peer Exporters

Business Model

• Inhouse Capability from Design to Delivery : Yarn to Finished Product

• Multiple products under Home Textiles

• Significant engagement with customer prior to order confirmation on Design, development, etc.

• Order backed manufacturing only

• Direct exports to customers, ~95% FOB

• Over 95% domestic raw materials

• Faster order turnaround times (60d-120d)

• Moderate MOQ’s, flexibility across products / Colours, designs

Markets & Customers

• USA 65%, UK/EUR 35%

• Strong relationship with Top 15 customers over last 2 decades. Consistent business across product lines

• Top 12 customers contribute around 80% of Revenue

• Any single Customer revenue < 15% of Revenue of the company

• Most customers procure multiple products across factories of the company

Business Potential

• Top 15 Customers comprise of very large retail chains in USA, UK, EUR

• Customer appetite is atleast 10x across all product lines given their global sourcing including in India

• Tangible move for sourcing to India from erstwhile China across Company’s products amongst company’s Customers

• Huge un-fulfilled demand within existing customer base / product mix offered by company

• Company is uniquely placed to have multiple product lines across Handloom, Technical & Home Textiles products.

• Most Peers have one of the many products

• Adequate opportunity & customer appetite for all the existing Indian peers in the product categories of the company

• Chinese competition: erstwhile headwind has become a tailwind

• Cost & tariff arbitrage neutralised between India & China under Home textiles

3

Our Valued Customers

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Product glimpse: refer www.fazethree.com

Home Textile Industry / Global Supply Chain : Trends, US Tariffs & Update

India is a leading supplier of Sheets & Towels and other products under the Cotton Home Textiles Segment given the availability of Cotton in India

Home Textiles from MMF (Man Made Fibres) predominantly polyester are dominated by China. These include Floor coverings (Bathmats, Rugs, Outdoor, performance textiles), TOB, Curtains, Filled products, etc. Estimated exports are said to be at least 20 times of India

Global Textile Trade is estimated at $ 200 Bn+ of which, China (+Vietnam) has 50% currently versus ~7% of India

1% movement implies opportunity of at least $ 2 Bn India can aim for 15% share by 2030 given the MMF yarn base and knowhow

China Plus One has been reinvigorated after a hiatus of 2 years

Almost all Top Retailers have targets of diversifying at least 15-20% out of China within next 2-3 years if India / Others can deliver

US Tariffs on China and India are currently at similar levels pending outcome of Trade deal between India and USA

FTA with UK brings in incremental business movement from Asia to India

Impending FTA’s with European countries expected on similar lines as UK

Incumbent suppliers in India have a huge demand tailwind from above factors. Effective expeditious execution by brownfield / green field expansion is the key to tap demand momentum

Other Supplier countries likes Turkey, Egypt, Portugal, Pakistan, Bangladesh have also faced challenges leading to customer preference towards India

PLI-2 for MMF is the need of the hour to capture the massive opportunity in Textiles and China Plus One

Land, Labour, Power, Logistics related reforms are imperative

Textile is also a major employment generator

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Management Comments ~ Looking forward FY 26 & beyond

• ✓ Consol’ Revenue, EBIDTA and PAT (Reported) for H1 FY 26 stood at ~INR 423 Crs, INR 34.10 Crs and 7.57 Crs respectively versus ~INR 305, INR 38.09 and 14.37 respectively in H1 FY 25.

• ✓ The growth in Total Revenue H1FY 26 vs H1FY 25 is over 35% which represents significant uptick versus guidance of 25% issued at the start of the year. Despite the challenges on account of 50% Tariffs by USA, company expects to exceed the guidance on Total Revenue.

• ✓ Reported EBIDTA and PAT for Q2FY 26 and H1FY26 are lower mainly on account of MTM on USDINR forwards Rs 14.05 Crs as at 30[th] Sept 2025 due to sharp movement in USDINR from 85.7 to 88.8 levels due to Trade deal flip flops in July-Sept period. The said item is non-cash and notional in nature. The comparable numbers excluding the impact are contained in following slides.

• ✓ EBIDTA for Q2FY26 (excluding MTM impact) is at ~10.8% versus over~13% in FY25 remains impacted due to costs incurred on account of imposition of Tariffs to accommodate and retain the business momentum

• ✓ Customer response and Order pipeline despite the tariffs is extremely encouraging and has reiterated our strategy across products diversification and customer focus. The company will continue its investment / expansion plan incrementally over next 12 months based on customer feedback and visibility. The long-term relationships with the large retailers has helped the company to leverage its association despite challenging times on account of Tariffs, while partnering to share the burden to the extent feasible.

• ✓ The Company estimates Revenue growth of at least 22-25% for FY 27 given the build up and efforts undertaken over the last 2 years to expand product categories and growth across existing customers & categories while adding new customers too subject to overall further non-restrictive scenario on the US-India Tariffs from hereon.

• ✓ Share of USA business in Total Income H1FY 26 at 62% versus 60% in FY25

• ✓ Company’s well diversified product range & wide global customer base has been key factor for sustainable growth. US Trade policy has created significant tailwinds as it did during 2019-2022 tenure for reaccelerating China plus One movement forever after hiatus of last 2 years in value added Textile merchandises especially made of MMF.

Update on Tariffs and Business momentum

• ✓ Currently, reciprocal Tariffs on China and India stands around 50% pending final outcome. The actions on Trade by USA viv China in April 2025 prior to pause has changed the Business plans and Sourcing priority of Top 10 USA Retailers to certainly diversify country of sourcing.

• ✓ Additional Tariff of 25% on account of purchase of Russian Oil applicable from Sept 2025 on India expected to be lifted in next 2 months as widely reported. This will provide significant momentum to growth impulse and improve margins significantly which are impacted owing to the same

• ✓ Company’s products largely positioned in the band at $8-25$ per piece / per set band for sale by retailers which empirically have not seen significant reduction in demand during past cycles. Further as an example, the ratio of Retail sale price / FOB cost generally would be 3x/4x as a minimum on all products, therefore a 50% tariff at FOB (net) level would lead to retail price increase of 14-15%, if fully passed on. Customers have worked along to reduce costs by product reengineering by 7-10% and cost reductions from vendors between 3-5% to additionally save and pass on ~10% increase to retail customers over time

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Company’s readiness to capitalize on the Global Opportunity

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• ✓ Invested over ~INR 300 Crs from internal accruals across units for Expansion, new machinery, new location, new technologies, new product lines & debottlenecking since FY 2019.

• ✓ Expansions and Capacity update:

• ✓ Concluded Expansion at Silvassa Factory in 2022 having Revenue capacity of up to INR 500 Crs (brown field) on existing spare land for MMF Floor coverings, Performance Rugs, Technical & Outdoor Textile products. Current overall utilisation ~50%

• ✓ Concluded Expansion under Top of Bed & Blankets segment (2022-23) having Revenue capacity across products over INR 450 Crs (brownfield), backed by commitments from various customers. Current utilisation at ~50%

• ✓ Ongoing expansion at Panipat (2024-2026), Cotton Home Textiles division and processing unit having Revenue capacity of over INR 550 Crs. Current utilisation at around 45%.

• ✓ Investment in subsidiary Mats and More Pvt Limited (Aurangabad) to cater to a new category under floor coverings being patio mats including outdoors textile products, to cater to the existing customers based on business visibility. Revenue capacity of INR 150 Crs. Current utilisation at 30%

• ✓ Invested over INR 25 Cr in aggregate for Rooftop Solar energy 3.5 MW (captive), Clean Energy for processing (PNG) & Li-ion (Electric) Material Handling Equipment keeping company’s ESG goals in the forefront. Invested in Talent acquisition and team building across units, new product developments, other green initiatives, etc.

• ✓ Company has zero long-term debt since 2018. CARE reaffirmed credit rating at A (stable)/A1 (Sept 25). Factories / Infrastructure current replacement value estimated > INR 600 Crs, poses significant entry barrier for new entrants. Focus on reducing costs, being innovative and most competitive manufacturer for the customer globally while maintaining budgeted net profit margins.

• ✓ Strong partnerships with Key Domestic Suppliers / Vendors (being large corporates) with assured business certainty and upfront payment terms to secure quality and timely supplies from best in business

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Profit and Loss Summary - Quarterly (consolidated) (figures in INR Crs)
Particulars Q2 FY 26 Q2 FY 26 Q1 FY 26 Q2 FY 25 Q1FY26 (Note1) vs
(As Reported) (NOTE 1) Q1FY25 (growth %)
Total Income 207.4 207.4 215.9 153.7 35%
EBIDTA (Note 1) 5.52 22.44 28.53 19.20 17%
EBIDTA margin % 2.66% 10.82% 13.22% 12.49%
Depreciation 7.66 7.66 7.22 6.12
Finance Cost 4.56 4.56 4.19 3.33
PBT -6.7 10.2 17.1 9.7 5%
PAT -5.2 7.7 12.8 7.1 8%
PAT margin % -2.5% 3.7% 5.9% 4.6%
Cash Profit 2.4 15.3 20.0 13.2 16%
Cash Profit margin % 1.2% 7.4% 9.3% 8.6%
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Profit and Loss Summary - Quarterly (consolidated) (figures in INR Crs)

NOTE 1 :

• EBIDTA is after impact of Rs 16.92 Cr MTM on USDINR Forwards for Q2 ended Sept 30, 2025 (versus gain of 2.96 Cr in Q1 June 30, 2025) due to USDINR movement from 85.70 on June 30 versus 88.80 on Sept 30, 2025

• The said item is exceptional and notional in nature therefore impact of the same excluded to reflect Q2FY26 comparable with previous quarters in the table above

• EBIDTA margin at 10.82% versus ~13% mainly on account of adverse impacts / costs incurred pending resolution of 50% Tariffs on India & overall Trade deal between India-USA

• The Company does not follow Hedge accounting as a policy therefore MTM on Currency forwards is routed through Profit/Loss account in place of Other Comprehensive Income (OCI)

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Profit and Loss Summary – TTM/ (consolidated) (figures in INR Crs)

Particulars	TTM Sep25 (NOTE 1)	FY 25	FY 24	FY 23	FY 22	FY 21	FY 20	FY 19
Total Income	819.7	701.7	572.3	563.8	511.4	326.7	306.3	270.3
Total Incomegrowth %	16.8%	22.6%	11.9%	10.2%	56.5%	6.7%	13.3%
~~@~~ EBIDTA EBIDTA margin % Depreciation Finance Cost PBT PAT PAT margin %	102.25 12.47% 28.0 17.0 57.3 43.0 5.25%	92.23 13.14% 25.0 14.6 52.7 40.7 5.79%	94.27 16.47% 20.6 11.3 62.4 46.6 8.15%	99.93 17.73% 14.5 7.8 77.6 58.3 10.34%	86.6 16.93% 10.2 5.0 71.4 51.1 9.99%	47.9 14.67% 8.8 3.8 35.3 25.0 7.7%	37.8 12.32% 8.0 8.6 21.2 18.1 5.9%	29.8 11.02% 5.2 6.8 17.8 15.1 5.6%
Cash Profit	71.0	65.7	67.2	72.8	61.3	33.8	26.1	20.3
Cash Profit margin %	8.7%	9.4%	11.7%	12.9%	12.0%	10.4%	8.5%	7.5%
EPS(INR)	17.7	16.7	19.2	24.0	21.0	10.3	7.5	6.2
EPSgrowth %	5.7%	-12.8%	-8.7%	14.2%	104.2%	38.0%	20.5%
Cash EPS	29.2	27.0	27.7	29.9	25.2	13.9	10.7	8.3
Cash EPSgrowth %	8.0%	-2.3%	9.8%	18.8%	81.0%	29.7%	28.8%

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✓ ~5 YR CAGR (TTM Sept 25 vs FY 21): ✓ Revenue : 20% ✓ EBIDTA : 16% ✓ EPS : 11% ✓ CEPS : 16%

• The Company estimates FY 26 Revenue to grow at least 22-25% despite the challenges on Tariffs

NOTE 1

• EBIDTA for TTM Sept 2025 (presented above) is before impact of Rs 16.92 Cr MTM on USDINR Forwards for Q2 ended Sept 30, 2025 (versus gain of 2.96 Cr in Q1 June 30, 2025) due to USDINR movement from 85.70 on June 30 versus 88.80 on Sept 30, 2025. The said item is exceptional and notional in nature therefore impact of the same excluded to reflect Q2FY26 comparable with previous quarters in the table above

• The Company has opted a policy on MTM - Currency forwards to be routed through Profit/Loss account in place of Other Comprehensive Income (OCI) as per Hedge accounting

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Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Balance Sheet Summary Annual (consolidated) (figures in INR Crs)	Mar 31, 2019 185.2 3.9 46.7 16.9 252.7 121.0 9.2 122.5 252.7 180.6 17.19	Mar 31, 2019 185.2 3.9 46.7 16.9 252.7 121.0 9.2 122.5 252.7 180.6 17.19
Particulars	Sep 30, 2025	Mar 31, 2025'	Mar 31, 2024'	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019
Networth^	426.1	420.0	380.6 8.7 74.0 39.4 502.6 240.5	334.6 6.8 44.3 33.1 418.8 208.4	278.3 5.3 77.1 38.7 399.3 157.1	226.1 1.7 48.9 28.4 305.1 132.9	201.5 2.6 37.2 16.7 258.0 125.4	185.2
Non-Current liabilities	4.0	9.9						3.9
ST Borrowings(Net of Cash & Cash Eq)*	200.5	160.7						46.7
Current liabilities	91.3	69.7						16.9 252.7
Total Liabilities Net Fixed Assets^	721.9 330.0	660.3 299.3
								121.0
Non-Current Assets	44.7	24.5	18.4	9.3	15.6	7.4	12.4	9.2
Current Assets(Excl Cash & Cash Eq)*	347.1	336.5	243.7	201.1	226.7	164.8	120.2	122.5
Total Assets	721.9	660.3	502.6	418.8	399.3	305.1	258.0	252.7
Core Capital Employed#^	579.0	538.9	407.2	329.3	304.3	221.7	186.0	180.6
*Cash & Cash Eq /Bank/FD/Liquid Invst	23.2	19.6	82.6	116.28	80.58	42.46	16.29	17.19

^ includes INR 51.63 of Land Revaluation Reserve

Core capital employed excludes revaluation of INR 51.63 and Current Liabilities

*Excludes Cash and Cash Equivalents (which includes cash and bank balances and current investments in liquid securities)

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Key Ratios Summary (consolidated)

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Return Ratios Sep-25 FY 25 FY 24 FY 23 FY 22 FY21 FY20 FY19
ROE^ 11% 11% 14% 21% 23% 15% 10% 13%
Core ROCE #^ 13% 14% 20% 27% 29% 19% 13% 15%
Operating Ratios Sep-25 FY 25 FY 24 FY 23 FY 22 FY21 FY20 FY19
Current Ratio 3.8 4.8 6.2 6.1 5.9 5.8 7.2 7.2
Fixed Asset Turnover Ratio 2.9 2.8 3.1 3.7 5.1 4.2 3.8 4.1
Total Asset Turnover Ratio 1.2 1.2 1.3 1.6 1.5 1.3 1.3 1.4
Inventory days 103 112 96 61 96 88 88 98
Debtor days 36 48 49 64 59 78 60 62
Payable days 20 23 15 12 18 17 10 13
Cash Conversion Cycle 119 137 130 113 137 149 138 147
Solvency Ratios Sep-25 FY 25 FY 24 FY 23 FY 22 FY21 FY20 FY19
Total Outside Liabilities / Total Equity 0.68 0.55 0.30 0.23 0.42 0.34 0.27 0.34
Net Debt / Equity 0.47 0.38 0.19 0.13 0.28 0.22 0.18 0.25
Net Debt / EBIDTA 1.96 1.74 0.78 0.44 0.89 1.02 1.25 1.48
Interest Coverage Ratio 4.38 4.62 6.55 10.90 15.31 10.37 3.64 3.65
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^INR 51.63 Crs of Land Revaluation Reserve excluded for calculation of the said ratio. Revenue, EBIDTA and PAT considered for ROE & Core ROCE as based on TTM Sept 2025 for Sept 2025 in earlier slide #Average Core Capital Employed considered for calculation of Core ROCE Interest coverage ratio calculated on gross finance cost. Interest Income forms part of Total Income

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Cash Flows Update (Consolidated) (figures in INR Crs)

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Cumulative Cumulative
Particulars Sep-25 Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Mar-20
(2020-S25) (2020-S25) %
PAT + Depn + non-cash adj 36.5 65.7 67.2 72.8 61.3 33.8 26.1 363.4 100%
working capital changes -9.0 -61.3 -34.5 21.6 -48.0 -34.0 0.8 -164.3 -45%
CF from Operations (CFO) 27.5 4.4 32.7 94.4 13.3 -0.1 27.0 238.2 66%
CF Investing & Fixed assets -45.6 -83.8 -52.7 -65.9 -34.4 -16.3 -12.4 -311.0 -86%
CF Non-Current Assets -20.3 -6.1 -9.1 6.3 -8.2 5.0 -3.2 -35.5 -10%
CF Borrowings/financing 39.8 86.7 29.7 -32.8 28.2 11.7 -9.5 153.9 42%
CF Dividend -1.2 -1.5 -2.7 -1%
CF change for the year 1.5 1.3 0.6 2.0 -2.2 -1.2 1.9 3.7
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• ~45% of CFO has been invested back into working capital for self-funding growth in operations. The said number is expected to range between ~35% sustainably

• ~Significant portion of net CFO has been invested for Expansion across all locations for future growth over last 6 years, the said % will reduce substantially over next 2-3 years as major portion of capex is concluded and high growth will lead to improvement in cash accruals. CF from Non-Current asset includes investment/loan to operating subsidiaries and capital advances

• Company’s current planned capex plan is expected to be concluded in FY27. This would make at least 40-45% of CFO available for alternative uses in years ahead

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Latest Company Updates

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• Awards & Recognition

Faze Three Limited was declared as the Award Winner of Dun & Bradstreet “Business Enterprises of Tomorrow 2025” Business Excellence Awards in the category of Best Global Business (Mid-Corporate). The event took place on the eve of June 27, 2025 at Delhi. For more details kindly refer the following link: https://www.dnb.co.in/events/business-enterprisesof-tomorrow/default.aspx

• Credit Rating reaffirmed CARE Ratings (Sept 2025) at A(Stable)/A1

Thank you, Faze Three group

For any further details please contact:

Ankit Madhwani, CFO

ankit@fazethree.com 022 43514444

Corporate office: 63, C wing, Mittal Court Nariman Point, Mumbai 400021

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Disclaimer

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The information contained in this presentation is provided by Faze Three Limited (the “Company”), although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change without notice, its accuracy, fairness or completeness is not guaranteed and has not been independently verified and no express or implied warranty is made thereto. You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate for such purpose. Neither the Company nor any of its directors assume any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein. Neither the Company nor any of its directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. The statements contained in this document speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This document is for informational purposes and does not constitute or form part of a prospectus, a statement in lieu of a prospectus, an offering circular, offering memorandum, an advertisement, and should not be construed as an offer to sell or issue or the solicitation of an offer or an offer document to buy or acquire or sell securities of the Company or any of its subsidiaries or affiliates under the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, both as amended, or any applicable law in India or as an inducement to enter into investment activity. No part of this document should be considered as a recommendation that any investor should subscribe to or purchase securities of the Company or any of its subsidiaries or affiliates and should not form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax, investment or other product advice. This presentation contains statements of future expectations and other forward-looking statements which involve risks and uncertainties. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition, and future events and plans of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results, performances or events may differ from those in the forward-looking statements as a result of various factors and assumptions. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, or that assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise.

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