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10 – 11 Terms and Conditions This ANZ Markets Monthly (this “document”) has been prepared by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 or its affiliates (“ANZ”). In certain jurisdictions ANZ is represented by its branch office, representative office or affiliate companies, in which case this document is distributed in the relevant jurisdiction by such representative. This document contains factual information and may also contain professional opinions which are given in good faith and based on information and assumptions believed to be reliable as at the date of this document. The views expressed in this document accurately reflect the authors’ personal views, however the authors make no representation as to its accuracy or completeness and the information should not be relied upon as such. Any opinions, estimates and forecasts herein reflect the authors’ judgments on the date of this document and are subject to change without notice. Any prices or values herein are as of the date indicated, and no representation whatsoever is made that any transaction can be effected at such prices or values or that any prices or values may be provided at a later date. The value and income of any of the securities or financial instruments mentioned in this document may fall as well as rise and an investor may get back less than invested. Foreign-currency denominated securities and financial instruments are subject to fluctuation in exchange rates that could have a positive or adverse effect on the value, price or income of such securities and financial instruments. In preparing this document ANZ may have also relied on information supplied by third parties and whilst ANZ has no reason to doubt the accuracy of information used to prepare this document, ANZ makes no representation and gives no warranty as to the accuracy, timeliness or completeness of any information contained in this document or its relevance to the recipient. Copyright in materials created by third parties and the rights under copyright of such parties are hereby acknowledged. This document is issued on the basis that it is only for the information of the particular person to whom it is provided. This document contains confidential information and it is not to be reproduced, distributed or published by any recipient for any purpose without the prior written consent of ANZ. Nothing in this document constitutes a representation that any investment strategy or recommendation contained herein is suitable or appropriate to a recipient’s individual circumstances or otherwise constitutes a personal recommendation and it does not take into account the specific investment objectives, requirements, personal needs or financial circumstances or tax position of any recipient. This document does not contain and should not be relied upon as containing investment recommendations or advice and does not constitute an offer or an invitation to deal in, or a recommendation to acquire or sell any product or subscribe to any service. None of the services and products referred to in this document is available to persons resident in any country, state and jurisdiction where it would be contradictory to local law or regulation to offer such services and/or product. The recipient should seek its own independent financial, legal credit, tax and other relevant professional advice and should independently verify the accuracy and appropriateness of the information contained in this document. The capabilities described herein are not necessarily available in all jurisdictions and the provision thereof is subje