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                                          Werner De Bondt

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                         Professor of Financial Economics emeritus & Founding Director

                         RICHARD H. DRIEHAUS CENTER FOR BEHAVIORAL FINANCE

                         wernerdebondt@yahoo.com

                         wdebondt@depaul.edu

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AN IMPORTANT MESSAGE FOR INVESTORS

Werner De Bondt is NOT in any way, either professionally or personally, associated with “STIFEL STRATEGIE CONSULTING PARTNERS Ltd.” He is NOT an investment advisor/consultant to that firm and he is not a money manager at that firm. He is NOT a source of financial advice marketed by “STIFEL STRATEGIE CONSULTING PARTNERS Ltd.”