DISCLAIMER

Motilal Oswal Wealth Limited (“Motilal Oswal Private Wealth” or “MOPW”), a company incorporated under the Companies Act 1956, is registered with SEBI as Portfolio Manager (Portfolio Management Registration No. INP000004409); Registered with SEBI as Investment Adviser (Registration No. INA000021094); Registered with AMFI as Distributer of Mutual Funds (AMFI Registration No. ARN 87554), Registered with APMI as Distributer of Portfolio Management Services (APRN Registration No. APRN 03188), Distributor of other financial products, acting as an Investment Manager to Motilal Oswal Wealth AIF, a trust organised in India under the provisions of the Indian Trusts Act, 1882 and registered with Securities and Exchange Board of India as a Category III – Alternative Investment Fund (SEBI Registration Number: IN/AIF3/22-23/1142), acting as an Investment Manager to Motilal Oswal Wealth Alternates Trust, a trust organised in India under the provisions of the Indian Trusts Act, 1882, and registered with Securities and Exchange Board of India as a Category II – Alternative Investment Fund (SEBI Registration Number: IN/AIF2/25-26/2095), acting as an Investment Manager to Nekkanti Alternative Investment Trust, a trust organised in India under the provisions of the Indian Trusts Act, 1882, and registered with Securities and Exchange Board of India as a Category II – Alternative Investment Fund (SEBI Registration Number: IN/AIF2/26-27/2254). SEBI Registration Details in line with SEBI Social Media Circular - https://shorturl.at/P5dr9

Pursuant to para 2.3 of SEBI Master Circular dated July 16, 2025 for Portfolio Managers, Clients have an option to enter into PMS Agreement with the Portfolio Manager directly, without intermediation of persons engaged in distribution services. At the time of onboarding of Clients directly, no charges except statutory charges will be levied. This facility is available with effect from July 1, 2020.

Registration granted by SEBI, enlistment with BSE and certification from NISM in no way guarantee performance of the Investment Adviser or provide any assurance of returns to investors.

This document is intended solely for information and reference purposes and should not be construed to be investment advice or a recommendation under SEBI (Investment Advisors) Regulations, 2013. Further, this document is not a Research Report as per the SEBI (Research Analysts) Regulations, 2014. MOPW also distributes the products of Motilal Oswal Group Companies. MOPW ensures that there is no conflict of interest in the above role as it attempts to provide services in the best interest of investors.

The information provided herein are for the exclusive and confidential use of the addressee(s) only. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject MOWL and affiliates/ group companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe, any such restrictions. Any distribution, use or reproduction of the information contained in this Document, in full or in part without the written permission of MOPW, is unauthorised and strictly prohibited. If you have received this Document erroneously and you are not the intended recipient(s) of this Document, please delete and destroy it and notify MOPW immediately without making any copies and/or distributing it further. This document is not intended to be an invitation to effect a securities transaction or otherwise to participate in an investment service/offer. Nothing in this Document should be construed as advice nor an offer or recommendation or solicitation of any products/services by MOPW. The products/services referred in this document may not be suitable for all kind of Investors. Investors with any questions regarding the suitability of any of the products or services referred must consult their Financial Advisors, Tax consultants before taking investment decisions. MOPW does not provide any tax advice. Investors should assess the tax impact of their investment(s)/transaction in consultation with their tax advisors prior to investing.

MOPW does not guarantee yield or capital appreciation or capital protection. It may be noted that past performance does not guarantee similar future performance. Past performance may or may not sustain in future. The Performance related information provided herein is not verified by SEBI. MOPW neither assures nor guarantees any future returns or future performance, nor does it guarantee and/or assures that the projections/performance mentioned in this document or elsewhere, will be met. We have included statements/opinions/recommendations which contain words or phrases, that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the industry. By their nature, certain market risk disclosures are only estimates and could be materially different from what actually occurs in the future. Each recipient of this document should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors. We and our affiliates, group companies, officers, directors, and employees may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as advisor or lender/borrower to such company (ies) or have other potential conflict of interest with respect to any recommendation and related information and opinions.

Although MOPW has taken all reasonable steps to ensure accuracy of the data and completeness of the information contained in this document, it neither confirms nor guarantee accuracy or completeness of such information contained in this Document anyway. Investors are expected to make an independent assessment and verify its veracity, separately, before making any investment decisions. You expressly acknowledge and agree that you shall have gone through the respective product documents, disclosure documents, policies and other risk statements as are available on the website of the company and/or with the regulators, before taking any such investment decisions and MOPW shall neither be liable nor take any responsibility for any investment decisions, that is taken solely based on this document. Neither MOWL nor any of its affiliates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information.

Investment in securities are subject to market risk. Please read all investment related documents carefully before investing.

For further details, including complaints and suggestions, if any, you may contact us at:

Motilal Oswal Wealth Limited
Registered Office: Motilal Oswal Towers, Junction of Gokhale & Sayani Road, Prabhadevi, Mumbai 400025. E-Mail: privatewealth@motilaloswal.com

For any queries / suggestions, please email us on privatewealth@motilaloswal.com.
For any Distribution Complaints email us on: mopw.grievances@motilaloswal.com;
For any MOWL PMS Complaints email us on: grievancesPWM@motilaloswal.com;
For any MOWL AIF Complaints: mopw.aifgrievances@motilaloswal.com;
For any MOWL IA Complaints: mopw.riagrievances@motilaloswal.com

In case the Client is not satisfied with the redressal by MOWL or otherwise, the Client may lodge the complaint with SEBI at https://scores.sebi.gov.in or Toll Free Helpline at 1800 266 7575 / 1800 22 7575. SCORES may be accessed through SCORES mobile application as well, same can be downloaded from below link: https://play.google.com/store/apps/details?id=com.ionicframework.sebi236330 and https://apps.apple.com/in/app/sebiscores/id1493257302. If the Client is not satisfied with the extent of redressal of grievance by the Portfolio Manager, there is a one-time option for “Compliant review Facility” of the extent of the redressal, which can be exercised within 15 days from the date of closure of the complaint on SCORES. Thereafter, the complaint shall be escalated to the supervising official of the dealing officer of SEBI. After exhausting all aforementioned options for resolution, if the client is not satisfied, they can initiate dispute resolution through the Online Dispute Resolution Portal (ODR) at https://smartodr.in/login . Alternatively, the client can directly initiate dispute resolution through the ODR Portal if the grievance lodged with the Portfolio Manager is not satisfactorily resolved or at any stage of the subsequent escalations mentioned above. The dispute resolution through the ODR Portal can be initiated when the complaint/dispute is not under consideration in SCOREs guidelines or not pending before any arbitral process, court, tribunal or consumer forum or are non-arbitral in terms of Indian law.