November 2015

A CLIENT CENTRIC APPROACH

2/29 November 2015

SYZ WEALTH MANAGEMENT IN BRIEF

Client centric organisation

Entrepreneurial spirit

Strive for performance

Fees based on performance

Discretionary mandates to cater our clients' individual needs

Advisory business with rich cross-asset expertise

Global Investment Solutions with outstanding expertise in hedge funds

Private Equity and Corporate Advisory services through first-in-class partnerships

Wealth planning with holistic approach

Broad credit offering to leverage client assets and finance external investments

Trading services with full-fledged trading desk

Swiss banking group with 21 locations worldwide, of which 15 Wealth Management

Investment professionals in 4 continents and 5 time zones

Close proximity to our clients, tailoring our approach to their needs

A wide spectrum of capabilities

A unique corporate

culture

A global coverage

3/29 November 2015

A SUCCESS STORY SINCE 20 YEARSSYZ HISTORY

Banque SYZ foundedOYSTER launched

1996

1999

2000

200120022003

2004

SYZ Bank & Trust NassauLugano office

Locarno office

Luxembourg officeLondon office

ALBERTINI SYZfounded

Zurich office

ALBERTINI SYZgets banking licence

2007

2009

2010

2011

Hong Kong office

N+1 SYZ launched

SYZ Asset Management founded

Paris office

2012SYZ Swiss Advisors launched

2014Dubai office

2015

Acquisition of Royal Bank of Canada (Suisse) SA

IBM’s Deep Blue beats World

champion Kasparov

1st non-stop flight around the world by balloon, piloted by

Bertrand Piccard and Brian Jones

The launch of the iPod revolutionises music-

listening behaviour

SpaceShipOne: the first ever private space flight

Barack Obama elected first African-American president of the US

The eruption of Icelandic volcano Eyjafjallajökull causes major disruption to air travel in Europe

Higgs boson’s existence is experimentally confirmed

Corporate Advisory & Private Equity Services

4/29 November 2015

ERIC SYZA TRUE ENTREPRENEUR

Eric Syz is the majority shareholder and CEO of the SYZ Group.

Eric Syz comes from a Zurich industrial family, which was notably among the founders of Credit Suisse and Zurich Insurance. He began his financial career on Wall Street in 1981. In 1984, he joined the Geneva-based private bank Lombard Odier & Cie, working in asset management, mergers & acquisitions, promoting and designing the group’s products and analysing hedge funds, a category in which he has built robust expertise since the 1980s.

In 1996, he founded the SYZ Group with Alfredo Piacentini and Paolo Luban. Banque SYZ has enjoyed strong growth and is acknowledged by its peers as a true success story in the Swiss banking world.

A major contemporary art collector, Eric Syz is one of the most respected figures in the Swiss banking sector and a key player in the sector’s transformation into a forward-looking financial centre.

5/29 November 2015

WHAT WE STAND FOR…

ENTREPRENEURIAL SPIRIT

Independent

Founded by true entrepreneurs

Free from conflicts of interest

CREATED FOR OUR CLIENTS

We began by listening to our clients’ needs

We then built our bank to bring them real solutions

CREATED TO PERFORM

Expertise

Specialisation

Modern investment style

Fees based on performance

6/29 November 2015

…AND WHAT SETS US APART

Capital protection is our top priority The best way to make gains

is to avoid losses

Aligning our interests We are totally independent, enabling

us to avoid conflicts of interest

Our remuneration depends on our clients satisfaction

A comprehensive view of wealth We take into account all of your wealth,

without limiting ourselves to your portfolio alone

Putting the client first Instead of asking our clients to adapt

to our processes, our model is based on our clients' real concerns

Absolute performance Our benchmark is absolute

performance, not a stock market index

We are clearly motivated to seek out the best asset managers and the highest performing products

An approach based on net return, after tax We take costs and the tax impact into

consideration in our investment approach

7/29 November 2015

WE ARE CREATED FOR OUR CLIENTS…

CLIENT

SYZ OFFERINGCLIENT NEEDS

SYZ EMPLOYEES

Dedicated to their clients

Highest professional standards

Taking into account our clients' real concerns

Holistic approach to client needs

Customised offerings to cater individual needs

Broad range of wealth management services

8/29 November 2015

…AND WE ARE CREATED TO PERFORM

PERFORMANCE

SELECTIONOF THE BEST ASSET MANAGERS

ACTIVE MANAGEMENT

RISK MANAGEMENTExtensive use of hedging techniques

Use of products with asymmetrical profiles

We invest independently of stock market indices

Our size gives us agility

Our objective is to provide the best asset management

We supplement our in-house skills with the world’s best specialists

9/29 November 2015

FINANCIALLY STRONG WITH CONTINUOUSLY GOOD TRACK RECORD

AuM of CHF 40bn in 2015

17% annual growth since 2012

Group rated Baa2 on 21 May 2015

Placed under review for possible downgrade on 23 July 2015 due to the announced acquisition of RBC (Suisse) SA

Estimated Tier-1 ratio of 16% in 2016

25 29 29

40

0

20

40

60

2015

CHF bn

+17%

2012 2013 2014

CONTINUOUS GROWTH SOLID CAPITAL RATIO GOOD RATINGS

16%Tier-1 ratio in 2016

Baa2by Moody's

A2/P-1for long-term/

short-term deposits

10/29 November 2015

OVERVIEW OF OUR SERVICES AND EXPERTISESYZ GROUP OFFERING

SYZ ASSET MANAGEMENT

OYSTER Funds

OYSTER Alternative

SYZ AM Funds

SYZ WEALTH MANAGEMENT

Global Investment SolutionsDiscretionary

TradingWealth planning Credit

Advisory/ Research

SYZ Swiss AdvisorsPrivate clients Independent Asset Managers

11/29 November 2015

A SUCCESSFUL BOUTIQUE PLAYERSYZ ASSET MANAGEMENT

Multi-boutique offering focused on active management

Equities: Europe, Italy, US, Japan, Emerging Markets, Global, High Dividend, Market Neutral

Fixed Income: CHF, EUR, EUR Corporate, USD, High Yield, Convertibles, Flexible

Multi-Asset: Absolute Return, Diversified, Real Return Inflation linked, Active Protection.

Multi-Manager: Alternative investments

Clear commitment to performance expressed through 5 principles

Alpha generation

Focused portfolios

Non-dogmatic investments

Unrestrained fund management

Innovation

Swiss and international institutional client base

Pension funds, insurers, corporates and investment funds

Investing either through the Group’s investment funds or via segregated mandates

Comprehensive investment teams

Experienced managers and team members

Pure play strategists

Proven track record

12/29 November 2015

WITH SPECIAL FUND OFFERING AND EXPERTISESYZ ASSET MANAGEMENT

OYSTER FUNDS UCITS Luxembourg SICAV

with pan-European and Asian distribution

26 strategies in the major asset classes and niche strategies

Top-performing funds aimed at a professional market

Effective mix of in-house and external fund managers

Recognised fund brand(ranked #34 in the Top 50 preferred fund brands in Europe1)

OYSTER ALTERNATIVE Selecting hedge funds and

managing multi-manager funds is one of the Group’s long-standing skills

SYZ’s 19-year track record is one of the longest in Europe

A diversified single- and multi-strategy alternative products offering

SYZ AM FUNDS Swiss-domiciled funds for

Swiss institutional investors

Focused on CHF fixed income strategies

1: Fund Buyer Focus/Morningstar 2014 ranking

Note: Some funds may be restricted to qualified investors only and/or to certain jurisdictions

13/29 November 2015

INVESTMENT PROCESS

CREDIT TRADINGWEALTH

PLANNINGONLINE

BANKING

DISCRETIONARYMANAGEMENT

GLOBAL INVESTMENT SOLUTIONS

ADVISORY/ RESEARCH

OUR OFFERINGSYZ WEALTH MANAGEMENT

14/29 November 2015

VARIOUS PROFILES TO CATER OUR CLIENTS’ NEEDS

STA

ND

AR

D P

RO

FILE

S

SPEC

IAL

PRO

FILE

S

Absolute Return

Defined risk budgetHigh liquidityLow FX risk

100% Equities

Dividend stocksOpen Architecture FundsStock-picking

100% Fixed Income

High Yield or EM biasIncome generation

CPI + Oriented on protection against inflation

15%

15%

15%

13%

62%

40%

23%

10%

20%

40%

52%

62%

10%

15%

3%

5%

Low

Moderate

Medium

High

Alternatives Equities Fixedincome Cash

No strict minimum size for special mandates but ideally above USD/EUR/CHF 1mio

Reference currencies : CHF/USD/EUR/GBP/CAD/SEK

Management fine-tuned to take into account local tax rules

FX : managed as an asset class

DISCRETIONARYMANAGEMENT

15/29 November 2015

HOW WE INVESTA

CT

OR

PR

OC

ESS

TO

OLS

CIO / Strategy Committee

Client via Relationship manager

Top Downanalysis

Forecasts/Modelling

Neutralpoints

OW /UW

In-housebottom-up

analysis

Fundanalysis

3rd partyanalysis

Restr. Man.Tools

Riskanalysis

Fiscal rules

Volatilityreview

Performancereview

Expected returns

MarketAnalysis

Strategy Grid

ModelPortfolio

Implemen-tation

Profiledefinition

Discretionary Portfolio Management Team

Client Portfolio

RISK CONTROL

Example: Portfolio management – Discretionary mandates

INVESTMENT PROCESS

16/29 November 2015

A CROSS-ASSET GLOBAL EXPERTISE

ADVISORY/ RESEARCH

EXTERNAL BROKERS 20 brokers access

SYZ TRADING 8 experts (Equities, Bonds, FX,

Structured products)

SYZ FUND RESEARCH Fund analysis

Open architecture

SYZ ASSET MANAGEMENT 34 UCITS funds

Macro analysis/Tactical allocation

ADVISORY TO EXTERNAL ASSET

MANAGERS

ADVISORY TO RELATIONSHIP

MANAGERS

DIRECT ADVISORY TO CLIENTS

• Global Equities

• Global Bonds

• FOREX

• Alternative Investments

• Structured Products

ADVISORY

17/29 November 2015

…WITH A WIDE OFFERING

Our offer

Active Equity & Bonds lists

Weekly investment note

Company notes

Flash notes to RMs & Clients

Portfolio Analysis & Design

Our strengths

Global Equity selection

Global Bond selection

Hedge Funds selection (GIS)

FX advisory

Structured products advisory

ADVISORY/ RESEARCH

18/29 November 2015

HEDGE FUND EXPERTISE & SERVICES

Global Investment Solutions

Hedge funds and global alternative team. USD 2bn in hedge fund investments

Focusing on the specific needs of private individuals, family offices, external asset managers and trusts

Offer of Services

Portfolio management of tailor-made portfolios as per client’s predefined needs

Active advisory on selected high-quality hedge funds, including redemption recommendations. Offer capacity in closed funds

Research Skills

Internal global hedge fund research capabilities. More than 100 hedge funds approved

Subscriber to Albourne, leading independent hedge fund research service

Portfolio Management Skills

Focus on performance and downside protection

6.5% annualised outperformance vs. hedge fund index

Flat performances during equity down months

GLOBAL INVESTMENT SOLUTIONS

Note: Some funds may be restricted to qualified investors only and/or to certain jurisdictions

19/29 November 2015

TAKING CARE OF OUR CLIENTS WEALTH BEYOND INVESTING

OBJECTIVES

DEDICATED SERVICE

Wealth planning is a dedicated service aimed at assisting clients in the:

Evaluation of financial, economic and risks from asset allocationIdentification of compliant investment instruments in partnership with legal counsels Coordination of family mattersSuccession solutions for businesses and private assets

DIFFERENTIATINGAPPROACH

We differentiate ourselves from an external advisor thanks to:

Holistic analysis of legal and fiscal situationNeutral and independent identification of your objectivesDevelopment of tailor-made wealth plan thanks to our multi-disciplinary expertiseSolution implementation in our banking environment

BREADTH OF TOPICS COVERED

Tax solutions

Understanding tax implications in multiple jurisdictionsCompliant solutions by using investment wrappers such as collective investment schemes

Restructuring for tax and legal change

Regular reviews to identify risks and define strategies to avoid risks with tax and legal counsels

Concentrated equity planning

Developing strategies to enhance position lending valueCreate liquidity

Insurance solutions

Unit-linked insurancesGuaranteeing liquidityPortable from one country to the other

Dispositive planning

Alternatives to proper ownership for asset protection purposes and/or heritage transferSuccession planning solutions and transfer facilitationSolutions to achieve clients’ philanthropic objectives

Cross-border planning

Expatriation opportunities for individuals Solutions for entrepreneurs who need to freely travel around Europe

WEALTH PRESERVATION WEALTH ENHANCEMENT

WEALTH PLANNING

20/29 November 2015

ALLOWING FOR FINANCIAL FLEXIBILITY

Cash, MM, Fiduciary

Fixed Income

Equities

ETF Funds

Internal Funds

Recommended Funds

Hedge Funds

Insurance Policies

COLLATERALISED CREDIT FACILITIES

Leveraging the assets with the bankFinancing external investments

Overdrafts in all major currenciesFixed term loans in all major currencies and up to 5 yearsFirst demand bank guaranteesDerivatives trading

FLEXIBLE UTILISATION

PRODUCT

LENDING VALUEPRODUCT

Max 100%

Max 95%

Max 75%

Fixed Income max. 95%/Equity max. 75

Based on asset class

Based on asset class

Max 60%

On a case-by-case basis, depending on contract type

CREDIT

21/29 November 2015

FULL RANGE OF TRADING SERVICES AT YOUR DISPOSAL

VIP service with high added value Personalised advice,

implemented by devising a tailored investment strategy

Actively managed currency overlay, with continuous monitoring for optimisation

Highly controlled risk management with systematic stop loss limits and call levels

Technical analysis

Continuous information through a range of publications, external research and market news flows

Trading volume per year

1

Equities: ~CHF 7bn

Bonds: ~CHF 6bn

Forex spot/forward/swap: ~CHF 110bn

Derivatives forex: ~CHF 7bn

Competitive trading services Direct access to the trading room

for clients & IAM

Long opening hours

Competitive prices, obtained by creating competition among more than 28 different bank counterparties

Meticulous execution in line with “Best Execution” principles

TRADING

1. Trading volumes 2014

22/29 November 2015

AT THE FOREFRONTOF TECHNOLOGY

SYZ Direct

The eBanking solution that allows to access client accounts 24 hours, 7 days a week

Account statements and portfolio evaluations can be viewed, printed or exported as required

Our eBanking respects the high security norms that we apply to all our activities

SYZ Mobile

Intuitive, safe and user-friendly, this iPad app enables our clients to view at any moment the situation and the results of their portfolio

Taking advantage of modern technologies, SYZ Mobile allows our clients to view their account information and to choose the desired granularity, from a simple overview to the details of each position

Available information

Summarised view with portfolio evaluation, performance of the ongoing year and administrative information

Performance of the ongoing year, with a synthetic or detailed vision including inflows / outflows of funds

Breakdown by asset classes and currencies, current state and 12-month history

Current account balance

Detailed positions with average cost, current price and unrealised profit / loss

ONLINE BANKING

23/29 November 2015

UNIQUE SERVICES FOR IAMS

A strategic activity with dedicated resources Genuine investment management specialist

A team of experienced professionals, totally dedicated to IAM

A bank that truly adds value Dedicated solutions for private clients as well as IAM

State-of-the-art IT systems

Flat structure and rapid decision-making process

Trading room Direct access to the SYZ Trading Room will be granted to IAM with a sufficient size

and specifics needs

A renowned active advisory Bespoke recommendations based on SYZ’s high value-added research

Ability to handle all asset classes

Open architecture

SYZ INDEPENDENT ASSET MANAGERS

24/29 November 2015

SERVING OUR US CLIENTS

About SYZ Swiss Advisors

SEC-registered Swiss investment advisor based in Zurich

Clientele served

American investors based in the US and abroad

SYZ SWISS ADVISORS

Services offered

Discretionary investment management

Choice of several investment profiles

US tax compliant portfolio management

Full tax statements

25/29 November 2015

ACCESS TO DEEP CROSS-ASSET EXPERTISESYZ KNOWLEDGE WORLD

SYZ ASSET MANAGEMENT OYSTER Funds, special mandates,

institutional mandates

SYZ RESEARCHExternal funds, global equities, global

bonds, hedge funds

DISCRETIONARY PORTFOLIOVarious balanced mandates, special mandates & hedge funds mandates

TRADING DESKDirect access & advisory, forex,

equities, bonds, derivatives

WEALTH PLANNINGOptimisation, shareholder

maximisation, transfer to next generations

CREDIT & LENDINGLombard & external loans, bank guarantees, credit, prepaid cards, cheques

GLOBAL INVESTMENT SOLUTIONS

Hedge fund expertise & services

ADVISORYGlobal equities & bonds – direct line &

funds, forex & derivatives, hedge funds & alternatives, external funds

recommendation list

ACCESS TO EXPERTISE

Wealth Management Asset Management

26/29 November 2015

RECOGNISED QUALITY & SERVICESYZ AWARDS

October 2014The Swiss banking Group SYZ & CO has been voted“Best Private Banking Boutique” by the jury of the Global Private Banking Awards 2014 organised by PWM (Professional Wealth Management) and The Banker, two publications of the Financial Times group.

August 2014Banque SYZ & CO ranked best Swiss bank in terms of soundness in the annual ranking of the world’s top banks drawn up by the benchmark magazine The Banker.

November 2015For the second year running, Banque SYZ has been voted “Best Private Banking Boutique” by the jury of the Global Private Banking Awards 2015. Organised by PWMProfessional Wealth Management and The Banker, both Financial Times Group publications.

November 2013Eric Syz, Co-founder and Managing Partner of the Swiss banking group SYZ & CO, was awarded the “Judges’ Award Industry Leader" in the 2013 Global Private Banking Awards, organised by PWM and The Banker.

27/29 November 2015

21 PRESENCES WORLDWIDE, OF WHICH 15 FOR WEALTH MANAGEMENT

SYZ GROUP

28/29 November 2015

CONTACTSReggio EmiliaBanca ALBERTINI SYZ SpAVia Roma 8I – 42100 Reggio EmiliaTel: +39 0522 45 921

BolognaBanca ALBERTINI SYZ SpAPiazza Calderini 3I – 40124 BolognaTel: +39 051 29 10 51

TorinoBanca ALBERTINI SYZ SpACorso Re Umberto 77I – 10128 TorinoTel. (+39) 011 503232

MadridN+1 SYZPadilla 17E – 28006 MadridTel: +34 91 745 84 84

BilbaoN+1 SYZAlameda de Recalde, 35, 6° dchaE - 48011 BilbaoTel: +34 94 443 63 51

BarcelonaN+1 SYZ Paseo de Gracia, 101 E - 08008 BarcelonaTel: +34 93 218 15 40

ParisSYZ (France) SAS8, place VendômeF – 75001 ParisTel: +33 (0)1 55 35 98 80

BrusselsSYZ Asset Management (Luxembourg) SA38/40 Square de MeeûsB - 1000 Bruxelles Tel: +32 (2) 401 61 21

SWITZERLAND

GenevaBanque SYZ SARue du Rhône 30Case Postale 5015CH – 1211 Genève 11Tel: +41 (0)58 799 10 00 Fax: +41 (0)58 799 20 00info@syzgroup.comwww.syzgroup.com

GenevaBanque SYZ SARue François-Diday6 Case postale 5696 CH - 1211 Genève 11Tel: +41 (0)22 819 42 42Fax: +41 (0)22 819 43 43

GenevaSYZ Asset Management (Suisse) SARue du Rhône 30Case Postale 5015CH – 1211 Genève 11Tel: +41 (0)58 799 18 00 Fax: +41 (0)58 799 20 46

Zurich – AgencyBank SYZ AGDreikönigstrasse 12CH – 8027 ZürichTel: +41 (0)58 799 77 37Fax: +41 (0)58 799 22 00

Zurich – Representative officeSYZ Asset Management (Schweiz) SADreikönigstrasse 12CH – 8027 ZürichTel: +41 (0)58 799 77 37Fax: +41 (0)58 799 22 00

Lugano – AgencyBanque SYZ SARiva Paradiso 2Casella postale 542CH – 6902 Lugano - ParadisoTel: +41 (0)58 799 67 20Fax: +41 (0)58 799 23 00

ASIA

Hong KongSYZ Asset Management (Asia) Ltd6501, 65/F, The Center99 Queen’s Road CentralHong KongTel: +852 3911 0800

MIDDLE EAST

DubaiBanque SYZ SA(Dubai Representative Office)Dubai International Financial CentreOffice Nr. 13, Gate Village 4, Level 3P.O. Box 113355 – Dubai, UAETel: +971 (0)4 401 99 99Fax: +971 (0)4 401 91 14

AFRICA

JohannesburghBanque SYZ SA, South Africa Representative OfficeSuite 8, First Floor The Orchard, 89 ButeLane Sandown RSA - Sandton 2196PO Box 653641 Benmore RSA - Sandton 2010Tel: +27 (0)11 305 2382Fax: +27 (0)86 685 6231

Lugano – Representative officeSYZ Asset Management (Suisse) SARiva Paradiso 2CH – 6902 Lugano-ParadisoTel: +41 (0)58 799 67 20Fax: +41 (0)58 799 23 00

Locarno – AgencyBanque SYZ SAVia Cattori 4Casella postale 1461CH – 6601 LocarnoTel: +41 (0)58 799 66 66Fax: +41 (0)58 799 22 50

EUROPE

LondonSYZ Asset Management (Europe) LimitedAuthorised and Regulated by the FCASouthwest House11a Regent StreetLondon SW1Y 4LRTel: +44 (0) 20 30 400 500

EdinburghSYZ Asset Management (Europe) LimitedAuthorised and Regulated by the FCASouthwest House31 Charlotte SquareEdinburgh EH4 4ETTel: + 44 (0) 20 30 400 500

MilanBanca ALBERTINI SYZ SpA Via Borgonuovo 14I – 20121 MilanoTel: +39 02 30 30 61www.albertinisyz.it

ZaragozaN+1 SYZAlbareda 1. 2°B50004 ZaragozaTel.: +34 976 79 51 60

LuxembourgSYZ Asset Management (Luxembourg) SA54 rue Charles MartelL – 2134 LuxembourgTel: +352 26 27 36-1

Global Investment Selection SA54 rue Charles MartelL – 2134 LuxembourgTel: +352 26 27 36-1

OYSTER SICAVBoulevard de la Foire 11-13L – 1528 LuxembourgTel: +325 26 27 31-1

NORTH AMERICA

NassauSYZ Bank & Trust LtdOld Fort Bay Town Centre, Building 2Windsor Field RoadP.O. Box N-1089Nassau – BahamasTel: +1 242 702 1400

Alternative Asset Advisors SAOld Fort Bay Town Centre, Building 2Windsor Field RoadP.O. Box N-1089Nassau – BahamasTel: +1 242 702 1423

MiamiBanque SYZ SA (Representative Office)801 Brickell Avenue, Suite 1501 USA - Miami, Florida 33131Tel: (305) 371 7141Fax: (305) 371 7145

Disclaimer

This marketing document has been issued by the SYZ Group (hereinafter referred to as " SYZ ”). It is notintended for distribution to or use by individuals or legal entities that are citizens of or reside in a state,country or jurisdiction in which applicable laws and regulations prohibit or restrict its distribution,publication, issue or use.It is the user's sole responsibility to assess whether or not the recipient of the present document is fullypermitted to take part of the document in their country of domicile / residence and, if so, to not holdBank SYZ Ltd accountable for any claims or proceedings that the recipient could face.This material is intended for informational purposes only and should not be construed as an offer,recommendation or solicitation for the purchase or sale of any financial instrument, or as a contractualdocument. The information provided herein is not intended to constitute legal, tax, or accounting adviceand may not be suitable for all investors. Any decision to buy, sell or subscribe to any kind of financialinstrument would be made under the user's sole responsibility without any liability of any kind of SYZ.SYZ waives any liability for any and all forms of loss or damage that could arise from, or in connectionto, the present document. The market valuations, terms, figures and calculations contained herein areestimates only and are subject to change without notice. SYZ will not follow up on the evolution of theinformation and will not be in position to revert to a user / users, should such information be changed inthe future.The information provided is believed to be reliable; however the SYZ Group does not guarantee itscompleteness or accuracy. Past performance is not an indication of future results, and neither isperformance nor capital being guaranteed.