Risk Disclosure Statement

1. Pinetree Securities Cooperation (“Pinetree”) provides online securities trading services to customers in accordance with Decision No. 1055/QD-UBCK dated November 16, 2017, of the State Securities Commission.

2. With the goal of providing high-tech securities services and offering customers the best investment experiences, Pinetree continually focuses on and invests in developing online trading technology to help customers stay updated on market conditions, execute trades quickly, and utilize other online utilities and services offered by Pinetree.

3. Despite Pinetree’s maximum efforts in building and upgrading infrastructure, operational control, and preparing comprehensive preventive scenarios, there are inherent risks of unforeseen incidents or events beyond Pinetree’s control that may affect the timely and/or accurate execution of customer orders. These risks include, but are not limited to:

• Hardware and software system errors, malfunctions, or failure to perform as designed, regardless of natural damage, force majeure, or human fraud.
• Data loss incidents on server systems or email systems.
• Inaccuracies in identifying organizations or individual investors, and potential security breaches.
• Customers being unable to access Pinetree’s system. System access speed may be adversely affected by market volatility, high traffic volume, system performance, or other factors beyond Pinetree’s control.
• Transaction orders may be suspended, delayed, or encounter data errors.
• Market prices and other securities information may be erroneous, inaccurate, or delayed due to objective reasons.
• Network system interruptions or delays due to transmission congestion, power outages, or programming errors.

Telecommunications networks used for authentication, order placement via phone, information retrieval, or receiving notifications may experience failures, overloads, or congestion.Disconnections from Pinetree to the Stock Exchanges due to reasons from the service providers.

4. Pinetree is not responsible for any errors and/or damages arising from and/or related to any of the above risks and/or when customer access passwords, transaction passwords, electronic signatures, and/or other identification factors are disclosed or lost in any form or for any reason. In cases of forgotten, lost, or stolen login information, transaction passwords, or any suspicion of security information theft or disclosure, customers must immediately notify Pinetree for timely resolution.

Thank you for choosing Pinetree’s online trading services!

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