Investment Risk Disclosure

OOO “Finaim” is not a professional participant in the securities market, an investment adviser, a broker, an asset management company or any other entity providing asset management services under the legislation of the Russian Federation.

The portfolio optimisation algorithms (the Markowitz method, CLA), the company assessments (Snowflake analysis, SHAP scoring) and the semantic analysis are mathematical and computational tools that demonstrate the principles of portfolio theory and machine learning. Their output does not take into account the individual financial circumstances, goals or tax status of any particular user.

All return figures — historical, calculated or forecast — are based on data from past periods or on mathematical models. Past investment results are not and cannot be a guarantee of similar results in the future.

Expected return, the Sharpe ratio, volatility and other figures computed by the platform are model estimates and may differ materially from actual results.

Investing in securities and other financial instruments carries the risk of a total or partial loss of the funds invested. The value of an investment can fall as well as rise. The investor bears all risk associated with their investment decisions.

The principal risks are:

• Market risk — a decline in asset values caused by market movements.
• Credit risk — an issuer failing to meet its obligations.
• Currency risk — changes in exchange rates when investing in foreign assets.
• Liquidity risk — being unable to sell an asset at a fair price when needed.
• Operational risk — failures of trading systems, brokers or depositories.
• Inflation risk — erosion of the real value of assets.

The recommendations generated by the Platform's algorithms (optimal asset weights, risk profile, company scores) are produced automatically from historical data and mathematical models. They:

• Do not take into account the user's personal financial circumstances, income, expenses or liabilities.
• Do not consider tax status or the applicable tax legislation.
• Are not a substitute for professional advice from a licensed financial adviser or broker.
• May contain inaccuracies because the underlying data is limited or delayed.

Before making any investment decision we strongly recommend consulting a licensed financial adviser.

5.1. Moscow Exchange (MOEX)

Trading securities on the Moscow Exchange involves the following additional risks:

• Regulatory risk — changes in Russian securities market legislation.
• Sanctions risk — restrictions on trading and settlement imposed by foreign states.
• Trading halts — MOEX may suspend trading in individual instruments or across the whole market.
• Infrastructure risk — dependence on the NSD (National Settlement Depository) and the NCC (National Clearing Centre).
• Concentration — the Russian market has historically been highly concentrated in the energy and financial sectors.

5.2. SPB Exchange

Trading foreign securities on the SPB Exchange carries elevated risks:

• Asset-freeze risk — securities may be blocked by decision of foreign regulators.
• Clearing risk — the difficulty of settling foreign securities under sanctions.
• Access risk — limited access to dividend payments and corporate actions.

Investments in private companies (start-ups, pre-IPO) are a high-risk asset class:

• The probability of a total loss of the investment is statistically far higher than for public companies.
• There is no liquid secondary market — exiting the investment may be difficult or impossible.
• The financial statements of private companies may be incomplete or unavailable.
• Finaim's scoring of private companies is a model estimate and is not a substitute for full due diligence.

The Platform uses data from public sources (yfinance, the MOEX ISS API). Despite our efforts to keep it accurate, the data may contain errors, delays or gaps. OOO “Finaim” does not warrant the completeness, accuracy or timeliness of the data presented on the Platform.