DISCLAIMER – IMPORTANT

The following materials are not directed at or to be accessed by persons located in the United States, Canada, Australia or Japan or any jurisdictions in which the distribution or release would be unlawful. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation.

In particular, the information on the following web pages is not an offer of securities for sale in the United States. The securities described on those pages have not been and will not be registered under the U.S. Securities Act of 1933, as amended. Securities may not be offered or sold in the United States absent registration or an exemption from the registration requirement of the Securities Act. There will be no public offer of the securities in the United States.

For users located in the United Kingdom

The information contained in this section of the website may only be accessed in the United Kingdom by persons who are "qualified investors" within the meaning of Article 2 e) of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 who are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended ("Order") or (ii) high net worth companies, falling within Article 49(2)(a) to (d) of the Order, and other persons to whom it may lawfully be communicated (all such persons together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this information or any of its contents.

For users located within the European Economic Area (other than Germany)

The information contained in this section of the website may only be accessed by persons located or resident in a member state of the European Economic Area ("EEA") who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC. Further, if you are acting as a fiduciary or agent for one or more investor accounts, (a) each such account is a qualified investor, (b) you have investment discretion with respect to each account, and (c) you have full power and authority to make the representations, warranties, agreements and acknowledgements herein on behalf of each such account.

Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of persons may be allowed to view such materials. Any person who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this website.

Basis of access

Access to electronic versions of these materials is being made available on this website by H&K AG ("Company") in good faith and for information purposes only. Making press announcements and other documents available in electronic format on this website does not constitute an offer to sell or the solicitation of an offer to buy securities of the Company. Furthermore, it does not constitute a recommendation by the Company or any other party to buy or sell securities of the Company.

You agree that the materials you receive are for your own use and that you will not distribute the materials to any other person.

Confirmation of understanding and acceptance of disclaimer

By clicking on the "I AGREE" button, I certify that:

– I am not located in the United States, Canada, Australia or Japan or any jurisdictions in which accessing the following materials would be unlawful;

– if I am located in the United Kingdom, I am a "relevant person" (as defined above); and

– if I am located in the European Economic Area (other than Germany), I am a "qualified investor" (as defined above).

I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms. By clicking on the "I AGREE" button, I confirm that I am permitted to proceed to electronic versions of these materials.

IWA OutdoorClassics 2023