Microsoft Word 1500436 Notice of Changes FINAL

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1 Please find below the detailed information on the changes that have been made on the HSBC Mutual Funds – Important Information for Investors & Declaration of Trust document effective November 14, 2016. Section: TFSA Declaration of Trust (pages 23-28) Amendment related to Header of the TFSA Declaration of Trust section: 1) Changed from “HSBC Trust Company (Canada), a trust company incorporated under the laws of Canada (hereinafter referred to as the "Trustee") hereby declares that it agrees to act as Trustee for the applicant/holder (hereinafter referred to as "you") named in the application under the HSBC Mutual Funds Tax-Free Savings Account (hereinafter referred to as "the Account") upon the following terms and conditions:” To “HSBC Trust Company (Canada), a trust company incorporated under the laws of Canada agrees to act as trustee for you, the holder named in the application under the HSBC Mutual Funds Tax-Free Savings Account in accordance with the Applicable Laws and the following terms and conditions:” Amendment related to Definitions section: 1) Added the following “Definitions: The following terms mean: We, us, our, the Trustee HSBC Trust Company (Canada) and its successors and assigns, and where applicable, the Agent who acts on behalf of the Trustee for certain administrative tasks in respect of the Account You, your, holder The holder, as defined in the Act, named in the Account application until his or her death and after that, any validly named successor holder of the Account, if any (as described in Paragraph 14) Account HSBC Mutual Funds TFSA established for the holder Agent HSBC Investment Funds (Canada) Inc. or any other agent or agents appointed by the Trustee Applicable Laws The Income Tax Act (Canada) (Act) and, if applicable, any similar legislation of the province where you live Contributions Contributions of cash or investments to the Account Declaration of Trust HSBC Mutual Funds Tax-Free Savings Account Declaration of Trust

2 Expenses All costs, charges, fees, commissions, legal expenses and out-of-pocket expenses (together with any goods and services tax or other Taxes applicable to such expenses) incurred from time to time in relation to the Account Property Any property, including the income on it, the proceeds from it and any cash held in the Account from time to time Taxes All applicable taxes, assessments, interest and penalties TFSA Tax-free savings account, which is a “qualifying arrangement” (as that term is defined in the Act) the issuer of which has elected, in the form and manner prescribed by the Act, to register as a TFSA Amendments related to Registration section: 1) Changed from “The Trustee will file an election to register the Account as a tax-free savings account pursuant to the provisions of the Income Tax Act (Canada) as amended from time to time (hereinafter referred to as the "Act"), and any applicable income tax legislation in the province or territory of residence designated by you in the application upon the face hereof (the Act and such provincial or territorial income tax legislation being hereinafter collectively referred to as "Applicable Tax Legislation"). The Trustee will give all notices as to commencement and termination of the Account required under applicable legislation. The Account will comply with any applicable conditions form time to time imposed by the Act on tax-free savings accounts.” To “If the holder has attained the minimum age specified in the Act for opening a TFSA, the Trustee will file an election to register the qualifying arrangement as a TFSA in accordance with the Act under the social insurance number and using the name and date of birth, provided by the holder for this purpose. Prior to opening or registration of the Account, and subsequently if requested by the Trustee or Agent, the holder agrees to: (a) attend at a branch of the Trustee, or before the Agent, to present original documentation acceptable to the Trustee to verify the holder’s identity; (b) disclose to the satisfaction of the Trustee, particulars of the intended use of the Account and business relationship with the Trustee; and, (c) provide such further documents or take such further actions as may be required by the Trustee to verify the identity of the holder, or otherwise comply with the Trustee’s legal obligations and risk management policies and practices. If the holder refuses to comply with these obligations the Trustee may refuse to open, register, or accept further Contributions into the Account, or exercise its rights to close the Account as contemplated in this Agreement.

3 If the Account is not registered as a TFSA, then any Contributions in the Account will be deemed and treated at all times as an unregistered Account with the Trustee and the Trustee may refuse to accept further Contributions into the Account and/or exercise its rights to close the Account without prior notice to the holder.” Amendments related to Delegation section: 2) Changed from “Without limiting the responsibilities of the Trustee under the Account, you expressly authorize the Trustee to delegate to HSBC Investment Funds (Canada) Inc. or such other duly authorized agent or agents as it may appoint (hereinafter referred to as the "Agent") the performance of such duties and responsibilities of the Trustee under the Account as may be agreed upon from time to time between the Trustee and the Agent and which the Trustee may by law delegate to the Agent. Notwithstanding the foregoing, the Trustee acknowledges and confirms that the ultimate responsibility for the administration of the Account remains with the Trustee. You also authorize the Trustee to, and the Trustee may, pay the Agent all or a portion of the fees paid by you to the Trustee under the Account and may reimburse the Agent for its out-of-pocket expenses in performing the duties and responsibilities delegated to the Agent by the Trustee and charge you therefor.” To “Without limiting the responsibilities of the Trustee under the Account, you expressly authorize the Trustee to delegate to the Agent the performance of such duties and responsibilities of the Trustee under the Account as may be agreed upon from time to time between the Trustee and the Agent and which the Trustee may by law delegate to the Agent. The Trustee acknowledges that the ultimate responsibility for the administration of the Account remains with the Trustee. You also authorize the Trustee to, and the Trustee may, pay the Agent all or a portion of the fees paid by you to the Trustee under the Account and may reimburse the Agent for its out-of-pocket expenses in performing the duties and responsibilities delegated to the Agent by the Trustee and charge you for any such out-of-pocket expenses.” Amendment related to Minimum Age section: Removed entire section. Amendments related to Your Account section: 3) Changed from “The Trustee will maintain an account in your name which will record all contributions made to the Account, all investment transactions, investment income earned and expenses incurred and all payments from the Account. The Trustee will send you annual or more frequent statements setting forth the particulars of each transaction since the last statement. Upon the expiration of ninety (90) days from the date of the mailing of the statement to you, the Trustee shall be released and discharged from all liability and accountability to you or anyone else with respect to the Trustee's acts and transactions during the period of time covered by the statement.” To “The Trustee will maintain the Account in your name which will record all Contributions made to the Account, all investment transactions, investment income earned and expenses incurred and all payments from the Account. At least once each year, the Trustee will send you an Account statement showing these transactions. Upon the expiration of ninety (90) days from the date of the mailing of the statement to you, the Trustee shall be released and discharged from all liability and

4 accountability to you or anyone else with respect to the Trustee's acts and transactions during the period of time covered by the statement.” Amendment related to Use of Account section: 4) “The Account will be maintained for the exclusive exclusive benefit of the holder (as Changed from hereinafter defined), disregarding any right of a person to receive a payment out of or under the Account only on or after the death of the holder. While there continues to be a holder of the Account, only the holder and the Trustee have any rights under the Account relating to the amount and timing of withdrawals and the investing of funds. In this Declaration of Trust, "holder" means, until your death, you, and at and after your death, your validly designated successor holder (as described in Paragraph 15(a)), if any.” “The Account will be maintained for the exclusive benefit of the holder disregarding any right of To: a person to receive a payment out of or under the Account only on or after the death of the holder. While there continues to be a holder of the Account, only the holder and the Trustee have any rights under the Account relating to the amount and timing of withdrawals and the investing of funds.” Amendment related to Purpose of Account section: Removed entire section. Amendment related to Contributions section: 5) Changed from “No person other than the holder may make contributions to the Account. The Trustee shall accept only such contributions, in a form acceptable to it, of cash or units of a fund managed by HSBC Global Asset Management (Canada) Limited, which are qualified investments for tax-free savings accounts within the meaning of the Act, as may be directed by you to be contributed to the Account. The contributions, together with any income therefrom, shall constitute a trust fund to be used, invested and held subject to the terms of this Declaration of Trust. You are solely responsible for ensuring that contributions to your Account do not exceed the maximum contribution limits permitted for tax-free savings accounts by the Act and that you do not make contributions to your Account while you are a non-resident of Canada for purposes of the Act. Neither the Trustee nor the Agent shall be liable for or in respect of any taxes, interest or penalties which may be imposed under the Applicable Tax Legislation (other than those taxes, interest and penalties for which the Trustee is liable in accordance with the Act and that can't be charged against or deducted from the assets of the Account) if such excess contributions or contributions while a non-resident are made.” “No person other than the holder may make Contributions to the Account. The Trustee will To accept only such Contributions, in a form acceptable to it, of cash or units of a fund managed by HSBC Global Asset Management (Canada) Limited, which are qualified investments for TFSAs within the meaning of the Act, as may be directed by you to be contributed to the Account. The Contributions, together with any income earned on the Contributions, will constitute a trust fund to be used, invested and held subject to the terms of this Declaration of Trust and Applicable Laws. Contributions will be invested, used and applied by the Trustee for the purpose of making distributions under the Account to the holder in accordance with the Act. You are solely responsible for ensuring that Contributions to your Account do not exceed the maximum contribution limits

5 permitted for tax-free savings accounts by the Act and that you do not make Contributions to your Account while you are a non-resident of Canada for purposes of the Act. Any Taxes levied under the Applicable Laws on excess Contributions and Contributions made while the holder is a non-resident will be the holder’s responsibility. The Trustee and the Agent will not be liable for any Taxes which may be imposed under the Applicable Laws) if such Contributions are made.” Added Minimum Value of Account section: 6) Added “If the total value of the Contributions at any time is less than $500, the Trustee may, in its sole discretion close the Account and pay the Account proceeds to the holder.” Amendments related to Investment section: Changed from 7) “The Trustee shall invest the contributions made to the Account from time to time in units of any one or more of the mutual funds distributed by the Agent, as directed by you. Income earned on any investment held by the Trustee for the Account shall be automatically reinvested at the net asset value thereof as at the close of business on the next valuation date following such receipt in units of the fund from which the distribution was made and the investment so purchased shall be held by the Trustee for the Account.” To “The Trustee will invest Contributions to the Account in units of any one or more of the mutual funds distributed by the Agent, as directed from time to time by you. Income earned on any investment held by the Trustee for the Account will be automatically reinvested at the net asset value as at the close of business on the next valuation date following such receipt in units of the fund from which the distribution was made and the investment purchased will be held by the Trustee for the Account.” Amendments related to Prohibited Investment section: 9) Changed from “You are responsible for ensuring that the investments held in your Account do not at any time include a prohibited investment for your Account under the Act. It is your sole responsibility to determine whether any investment is a prohibited investment for your Account under the Act and to determine whether such investment could result in the imposition of any tax or penalty.” To “You are responsible for ensuring that the investments held in your Account do not at any time include a prohibited investment for your Account under the Act. It is your sole responsibility to determine whether any investment is a prohibited investment for your Account under the Act and to determine whether such investment could result in the imposition of any Taxes.” Amendments related to Taxes and Penalties on Non-Qualified and Prohibited Investments section: 10) Changed from “Neither the Trustee nor the Agent shall be liable for or in respect of any taxes, interest or penalties (other than those taxes, interest and penalties for which the Trustee is liable in accordance with the Act and that can't be charged against or deducted from the assets of the Account) which may be imposed on you, the Account, the Trustee or the Agent under the Applicable

6 Laws, including the Act, whether by way of assessment, reassessment or otherwise or for any other charges levied or imposed by any governmental authority, due to payments out of the Account or the purchase, sale or retention of any investment, including an investment that is a non-qualified investment or a prohibited investment for your Account under the Act. The Trustee is hereby authorized to reimburse itself and the Agent for, or may pay, any such taxes, interest, penalties or other charges out of whichever assets of the Account it may choose in its absolute discretion and where necessary (other than those taxes, interest and penalties or with the Act and that can't be charged against or deducted from the assets of the Account), the Trustee, in its absolute discretion, may liquidate investments of the Account to provide payment of such taxes, interest, penalties, reimbursements or other charges. You and your heirs, executors and administrators shall indemnify and hold harmless at all times both the Trustee and the Agent in respect of any such taxes, interest, penalties or other charges imposed on either the Trustee or the Agent. Neither the Trustee nor the Agent (other than those taxes, interest and penalties or other charges for which the Trustee is liable in accordance with the Act and that can't be charged against or deducted from the assets of the Account) shall be liable for any loss to or diminution of the assets of the Account resulting from any act or omission in connection with the affairs of the Account, except to the extent that such loss or diminution is directly caused by the Trustee's breach of the standard of care referred to in Paragraph 23 hereof.” To “The Trustee and the Agent will exercise the care, diligence and skill of a reasonably prudent person to minimize the possibility that the Account holds a non-qualified investment, however, neither the Trustee nor the Agent will be liable for or in respect of any Taxes which may be imposed on you, the Account, the Trustee or the Agent under the Applicable Laws, including the Act, whether by way of assessment, reassessment or otherwise or for any other charges levied or imposed by any governmental authority, due to payments out of the Account or the purchase, sale or retention of any investment, including an investment that is a non-qualified investment or a prohibited investment for your Account under the Act. The Trustee is authorized to reimburse itself and the Agent for, or may pay, any such taxes, interest, penalties or other charges out of whichever assets of the Account it may choose in its absolute discretion and where necessary the Trustee, in its absolute discretion, may liquidate investments of the Account to provide payment of Taxes and Expenses. You and your heirs, executors and administrators shall indemnify and hold harmless at all times both the Trustee and the Agent in respect of any such Taxes and Expenses imposed on either the Trustee or the Agent. Neither the Trustee nor the Agent will be liable for any loss to or diminution of the assets of the Account resulting from any act or omission in connection with the Account, except to the extent that such loss or diminution is directly caused by the Trustee's breach of the standard of care referred to in Paragraph 22 hereof.” Amendments related to Refund of Certain Contributions section: Changed from “The Trustee shall, upon written application by you, in a form satisfactory to the 11) Trustee, pay a distribution out of the Account to you in order to reduce the amount of tax otherwise payable under the Act in respect of contributions made while a non-resident of Canada and contributions in excess of the maximum contribution limits permitted by the Act. The Trustee will not have any responsibility whatsoever for determining the amount of such distribution.” To “The Trustee will, upon written application by you, in a form satisfactory to the Trustee, pay a distribution out of the Account to you in order to reduce the amount of Taxes otherwise payable

7 under the Act in respect of Contributions made while a non-resident of Canada and Contributions in excess of the maximum contribution limits permitted by the Act. The Trustee will not have any responsibility whatsoever for determining the amount of such distribution.” Amendments related to Transfers section: Changed from “Upon receipt of a written direction from you in a form satisfactory to the Trustee, 12) the Trustee shall forthwith transfer, in accordance with the Act, all of the assets of the Account or such part thereof as is specified in your written direction together with all relevant information with respect to the Account to a person who has agreed to be the issuer of: (a) Another tax-free savings account under which you are the holder; or (b) A tax-free savings account held by your spouse or former spouse if, at the time of such transfer, you and your spouse or former spouse are living separate and apart and the transfer is being effected pursuant to a decree, order or judgment of a competent tribunal, or in accordance with a written separation agreement, relating to a division of property between you and your spouse or former spouse in settlement of rights arising out of, or on the breakdown of, the marriage or common-law partnership. Such transfer shall take effect in accordance with the Act and other applicable laws and within a reasonable time after all forms required by law and by the Trustee to be completed in respect of such transfer have been completed. Upon such transfer, the Trustee shall be subject to no further liability or duty with respect to the Account, or the portion thereof, so transferred, as the case may be.” To “Upon receipt of a written direction from you in a form satisfactory to the Trustee, the Trustee will transfer, in accordance with the Act, all or part of the property in the Account as is specified in your written direction together with all relevant information with respect to the Account to a person who has agreed to be the issuer of: (a) Another TFSA under which you are the holder; or (b) A TFSA held by your spouse or former spouse where the transfer relates to a division of property arising on the breakdown of your marriage or common-law partnership, in accordance with the Act and this Declaration of Trust.” Amendments related to Withdrawals section: 13) Changed from “You may, by written application, at any time, request that the Trustee pay as distributions to you all or part of the assets held under the Account, and the Trustee may liquidate any investments held under the Account, to the extent deemed necessary for that purpose. Such payment shall be made by the Trustee subject to the deduction of all proper charges, if any.” To “You may, by written application, at any time, request that the Trustee pay as distributions to you all or part of the assets held under the Account, and the Trustee may liquidate any investments held under the Account, to the extent deemed necessary for that purpose. Such payment will be made by the Trustee subject to the deduction of all proper charges, if any.” Amendments related to Death of Account Holder section: Removed entire section.

8 Amendments related to Designation of Successor or Beneficiary section: 14) If you are domiciled in a jurisdiction Changed from “Designation of Successor Holder or Beneficiary: in which a participant in a tax-free savings account may validly designate a successor holder or beneficiary other than by will, you may by instrument in writing in the form prescribed by the Trustee and delivered in accordance with the terms of this Account to the Trustee prior to your death, designate (a) your spouse as successor holder of the Account; or (b) any person as beneficiary to be entitled to receive the proceeds payable under the Account in the event of your death. Subject to the applicable laws, such person shall be deemed to be your successor holder or designated beneficiary, as the case may be, for the purposes hereof unless such person shall predecease you or unless you by instrument in writing in the form prescribed by the Trustee and delivered to the Trustee prior to your death or by your Will, revoke such designation. A designation shall only be made, altered or revoked by an instrument in a form provided by the Trustee for such purpose, dated and signed by you and filed with the Trustee prior to your death or by your Will. If more than one valid designation has been filed in the form provided by the Trustee and if such designations are inconsistent, then to the extent of such inconsistency, payment shall be made only in accordance with the designation bearing the latest execution date and such designation shall be determinative of any inconsistency. If a will has been validly executed after the date of the last valid designation and if the will contains a designation that is inconsistent with such designation, the Trustee may treat the will as containing the last valid designation. The Trustee shall be fully discharged from any further obligations and liability in connection with the Account upon payment being made in accordance with this Declaration of Trust.” To “Designation of Successor Holder and/or Beneficiary: If you are domiciled in a jurisdiction in which a participant in a TFSA may validly designate a successor holder or beneficiary other than by a Will, you may by instrument in writing in the form prescribed by the Trustee and delivered in accordance with the terms of this Declaration of Trust to the Trustee prior to your death, designate (a) your spouse as successor holder of the Account; or (b) any person as beneficiary to be entitled to receive the proceeds payable under the Account in the event of your death. Subject to Applicable Laws, such person will be deemed to be your successor holder or designated beneficiary, as the case may be, unless such person predeceases you, or unless you by instrument in writing in the form provided by the Trustee for such purpose and delivered to the Trustee prior to your death, or by your Will, revoke such designation. A designation will only be made, altered or revoked by an instrument in a form provided by the Trustee for such purpose, dated and signed by you and filed with the Trustee prior to your death or by your Will. If more than one valid designation has been filed in the form provided by the Trustee and if such designations are inconsistent, then to the extent of such inconsistency, payment will be made only

9 in accordance with the designation bearing the latest execution date and such designation shall be determinative of any inconsistency. If a Will has been validly executed after the date of the last valid designation and if the Will contains a designation that is inconsistent with such designation, the Trustee may treat the Will as containing the last valid designation. The Trustee will be fully discharged from any further obligations and liability in connection with the Account upon payment being made in accordance with this Declaration of Trust.” Added Payment on Death section: 15) Added “Payment on Death: In the event of your death and upon receipt of satisfactory evidence of your death and all other documents the Trustee may request, the following will apply: (a) If a designation has been validly made in accordance with Paragraph 14, and if one or more of the person or persons so designated are alive at the time of your death, then (i) If your spouse has been designated as the successor holder in accordance with this Declaration of Trust and Applicable Laws, and is then alive, no payment is required on death. Your spouse will become holder of the Account and acquire all of your obligations and rights as holder of the Account (including the unconditional right to revoke any beneficiary designation made, or similar direction imposed, by you under the Account or relating to property held in connection with the Account).Notwithstanding the foregoing, a successor holder may not designate a subsequent spouse to hold the Account after his or her death under Paragraph 14; or (ii) If your spouse has not been designated as the successor holder or has been designated but is not alive at the time of your death, and if an individual has been designated by you as beneficiary in accordance with Paragraph 14 who is alive at the time of your death, and if permitted by Applicable Laws, the Trustee will redeem the investments held in your Account and distribute in a lump sum the value of the Account, after deduction of all proper charges, to the beneficiary designated by you in accordance with this Declaration of Trust; and (b) In any other case: (i) If your spouse has been designated as the successor holder by you by way of validly executed will and if your spouse is alive at the time of your death, no payment is required on death, and your spouse will be subject to the provisions described in (a)(i) of this Paragraph 16 as if your spouse had been designated as the successor holder in accordance with this Declaration of Trust and Applicable Laws; (ii) If your spouse has not been designated as the successor holder or has been so designated, but is not alive at the time of your death, and if an individual has been designated by you as beneficiary by way of validly executed will who is alive at the time of your death, the Trustee will redeem the investments held in your Account and distribute in a lump sum the value of the Account, after deduction of all proper charges, to the beneficiary designated by you in such will; or (iii) in any other case the Trustee will redeem the investments held in your Account and distribute in a lump sum the value of the Account, after deduction of all proper charges, to your personal representatives. (c) Notwithstanding the provisions of (a)(ii), (b)(ii) or (b)(iii) of this Paragraph 15, as the case may be, in the event that the Trustee is not, for any reason, able to distribute the value of the Account, after deduction of proper charges, to the named beneficiary or your personal

10 representatives, as the case may be, in accordance with such provisions prior to December 1st of the year following the year of your death, the Trustee is authorized to transfer the value of the Account, after deduction of proper charges, to a non-registered account established in the name of the beneficiary or your personal representatives, as the case may be, and to maintain such non¬registered account until such time as the Trustee is able to distribute the proceeds of the account to the beneficiary or your personal representatives, as the case may be. For the sake of certainty, the foregoing transfer by the Trustee will in no way be or be deemed to be a change or amendment to the person or persons beneficially entitled to the value of the Account, after deduction of proper charges.” Amendments related to No Advantages section: Changed from 16) “No benefit, loan or indebtedness that is conditional in any way on the existence of the Account or other advantage within the meaning of the Act may be extended to you or to any person with whom you do not deal at arm’s length, other than those advantages which may be permitted from time to time under the Act.” To “No advantage (as defined for this purpose in the Act or any equivalent provision of Applicable Tax Legislation) in relation to the Account may be extended to, or received by, you, the Account, or any person who does not deal at arm’s length with you.” Amendments related to Trustee Fees and Disbursements section: 17) Changed from “(a) The Trustee will be entitled to compensation for its services, and reimbursement of disbursements, in accordance with the fee schedule provided to you, as amended from time to time. Notice of amendments to such schedule shall be given to you and will take effect no earlier than thirty (30) days from the date of such notice which may be effected in accordance with the method set out in Paragraph 22 hereof. (b) All Expenses and Taxes provided for hereunder shall be charged against and deducted from the investments of the Account (other than those taxes for which the Trustee is liable in accordance with the Act and that can't be charged against or deducted from the assets of the Account), at such time or times during each year as the Trustee may, in its absolute discretion determine, and where necessary, the Trustee, in its sole and absolute discretion, may liquidate investments of the Account to provide for payment of such fees, taxes and reimbursements. The Trustee shall not be responsible for any loss which results from such liquidation. To “(a) The Trustee will be entitled to compensation for its services, reimbursement of disbursements, and a fee upon transfer of Account funds to another financial institution in accordance with the fee schedule provided to you, as amended from time to time. Notice of amendments to such schedule shall be given to you and will take effect no earlier than thirty (30) days from the date of such notice which may be effected in accordance with Paragraph 21 (b) All Expenses and Taxes will be charged against and deducted from the investments of the Account (other than those taxes for which the Trustee is liable in accordance with the Act and that can't be charged against or deducted from the assets of the Account), at such time or times during each year as the Trustee may, in its absolute discretion determine, and where necessary, the

11 Trustee, in its sole and absolute discretion, may liquidate investments of the Account to provide for payment of such fees, taxes and reimbursements. The Trustee shall not be responsible for any loss which results from such liquidation.” Amendments related to Income Tax Information section: Changed from “The Trustee will forward, or cause to be forwarded, to you appropriate forms and 18) information regarding the Account as may be required under the Applicable Tax Legislation. Such forms and information shall be forwarded to the address set out in the application for the Account, or at any subsequent address of which you shall have notified the Trustee.” To “The Trustee will forward, or cause to be forwarded, to you appropriate forms and information regarding the Account as may be required under the Applicable Laws. Such forms and information will be forwarded to the address set out in the application for the Account, or at any subsequent address of which you have notified the Trustee.” Amendments related to Tax Information for Citizens and Residents of Countries Outside of Canada section: 19) Changed from “If you are a citizen or resident of a country other than Canada, we strongly advise you to contact your professional tax advisor before investing in a Canadian tax-free savings account, and on a regular basis thereafter. It is important that you are aware of the foreign tax consequences and reporting and filing requirements, if any, associated with being the holder of a tax-free savings account. Failure to comply with any such foreign requirements can have significant penalties. As well, contributions to the Account while you are a non-resident of Canada may result in taxes, interest and penalties being imposed under the Act.” “If you are a citizen or resident of a country other than Canada, we strongly advise you to contact To your professional tax advisor before investing in a Canadian TFSA, and on a regular basis thereafter. It is important that you are aware of the foreign tax consequences and reporting and filing requirements, if any, associated with being the holder of a TFSA. Failure to comply with any such foreign requirements can have significant penalties. As well, contributions to the Account while you are a non-resident of Canada may result in taxes, interest and penalties being imposed under the Act.” Amendments related to Amendments to Plan section: 20) Changed from “The Trustee may, from time to time at its discretion, amend this Declaration of Trust with the concurrence of the authorities administering the Applicable Tax Legislation: (a) Without notice to you, provided that the amendment is made for the purpose of satisfying a requirement imposed by the Applicable Tax Legislation; and (b) In all other cases, by giving thirty (30) days’ notice, provided that in all cases no such amendment will have the effect of disqualifying the Account as a tax-free savings account within the meaning of the Act.”

12 To “The Trustee may, from time to time at its discretion, amend this Declaration of Trust with the concurrence of the authorities administering the Applicable Tax Laws if required,: (a) Without notice to you, provided that the amendment is made for the purpose of satisfying a requirement imposed by the Applicable Legislation; and (b) In all other cases, by giving thirty (30) days’ notice, provided that in all cases no such amendment will have the effect of disqualifying the Account as a TFSA within the meaning of the Act. Amendments related to Notices section: Changed from “Any notice given by the Trustee to you shall be sufficiently given if in writing and 21) sent to your postal mailing address or electronic mailing (e-mail) address as set out in the application for the Plan, or at any subsequent address of which you shall have notified the Trustee. If by postal mail, the notice shall be deemed to have been given on the second business day following the day of posting. If by electronic mail, the notice shall be deemed to have been given immediately upon being sent by us to your electronic mailing address. We may consider you to have received whatever we send to you in these time frames: Regular mail 5 business days after mailing Fax On the day our fax machine records it was sent Email On the day our server records it was sent You must tell us if your mailing address, fax number or email address changes. Any notice given to the Trustee will be sufficiently given if delivered or mailed postage prepaid to HSBC Mutual Funds Tax-Free Savings Account c/o HSBC Investment Funds (Canada) Inc., or at such other address as the Trustee may from time to time specify in writing, and shall be deemed to have been given on the date that such notice is actually delivered to or received by the Trustee or HSBC Investment Funds (Canada) Inc. as the case may be.” “Any notice, statement or receipt given by the Trustee to you shall be sufficiently given if mailed, To postage prepaid, addressed to you at your last address known to the Trustee in connection with this Account. We may consider you to have received whatever we send to you in these time frames: Regular mail 5 business days after mailing Fax On the day our fax machine records it was sent Email On the day our server records it was sent You must tell us if your mailing address, fax number or email address changes. Any notice given to the Trustee will be sufficiently given if delivered or mailed postage prepaid to HSBC Mutual Funds Tax-Free Savings Account c/o HSBC Investment Funds (Canada) Inc., or at such other address as the Trustee may from time to time specify in writing, and shall be deemed to have been given on the date that such notice is actually delivered to or received by the Trustee or HSBC Investment Funds (Canada) Inc. as the case may be.”

13 Amendments related to Standard of Care and Trustee’s Liability section: Removed entire section. Added Trustee’s Responsibilities and Limitations of Liability section: 22) Added “The Trustee will not be responsible for any loss or damage suffered or incurred by the Account, the holder or by any successor holder or designated beneficiary, except due to the Trustee’s gross negligence, dishonestly, or willful misconduct. Although the Trustee is liable for direct losses or damages caused by its gross negligence, dishonesty, or willful misconduct, the Trustee will not be liable for any loss of opportunity or other economic loss, special, indirect or consequential loss or damage, or punitive damages, whether in contract, tort or under any other theory of law or equity, regardless of the cause of action, except to the extent that Applicable Law expressly prohibits the Trustee from excluding the liability. In no event will the Trustee be liable for any loss or damage of any kind resulting from the actions or any failure to act, of any other person, (a) the Trustee’s failure to perform or fulfill any obligation due to any cause beyond the (b) Trustee’s control; (c) incomplete or incorrect information or instructions supplied to the Trustee by the holder, including instructions for Contributions to the TFSA or investment of the Property of the Account that causes a loss or gives rise to Taxes, (d) any loss or harm for acting in reliance upon any designation, or revocation of designation, of a successor holder or designated beneficiary in an instrument provided by the holder to the Trustee, (e) dealing with the Contributions in accordance with the instructions of the holder, or any liquidation of the Contributions implemented in accordance with this Declaration of (f) Trust or instructions of the holder.” Amendments related to Agent’s Liability section: Changed from “Neither the Trustee’s Agent nor their nominees, agents or correspondents shall be 23) liable for the following: (a) Any loss or diminution suffered by the Plan or by you or any successor annuitant or beneficiary under the Plan as a result of the acquisition, disposition or retention of any investment; or (b) Any loss to or diminution of the assets of the Plan except for any loss or diminution caused by the Agent’s wilful misconduct or lack of good faith. The Agent, their nominees, agents or correspondents shall not be liable for any loss or damages whether direct or indirect resulting from the delay or failure of the Agent, their nominees, agents or correspondents in forwarding to you any information received by them concerning investments.” To “The Trustee's Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents shall not be liable for the following: (a) Any loss or diminution suffered by the Account, by you or any beneficiary under the Account as a result of the acquisition, disposition or retention of any investments; or

14 (b) Any loss to or diminution of the assets of the Account except for any loss or diminution caused by the Agent's wilful misconduct or lack of good faith. The Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents shall not be liable for any loss or damages whether direct or indirect resulting from the delay or failure of any of them in forwarding to you any information received by them concerning investments.” Amendments related to Indemnity section: 24) Changed from “You, any beneficiary receiving proceeds payable under Paragraph 15, and your heirs, executors and legal representatives agree to indemnify at all times the Trustee, the Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents against and hold them harmless from all taxes, interest, penalties, assessments, expense, loss, liability, claims, and demands whatsoever arising out of the holding and depositing of the investments to the Account or anything done hereunder.” To “You, any beneficiary receiving proceeds payable under Paragraph 15, and your heirs, executors and legal representatives agree to indemnify at all times the Trustee, the Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents against and hold them harmless from all taxes, interest, penalties, assessments, expense, loss, liability, claims, and demands whatsoever arising out of the holding and administration of the Account or anything done hereunder. You authorize the Trustee to reimburse itself to satisfy this indemnity and to sell investments held in the Account to generate funds to satisfy this indemnity. This indemnity survives the Termination of the Account.” Added Third Party Orders and Demands section: Added “The Trustee may permit any duly authorized third party to have access to and the right 25) to examine and make copies of any records, documents, paper and books involving any transaction of the Account or related to the Account as required and in compliance with any law, regulation, judgment, seizure, execution, notice or similar order or demand which lawfully imposes on the Trustee a duty to take or refrain from taking any action concerning the Account or part or all of the Contributions, or to issue payment from the Account, with or without instructions from the holder or in contradiction of instructions of the holder.” Amendments related to Proof of Age section: 26) Changed from “Proof of Age: The statement of your date of birth on the application for the Account shall constitute a certification by you and an undertaking to furnish such further evidence of proof of age as may be required for purposes of the Account.” To “Proof of Age and Social Insurance Number: The statement of your name, date of birth, age and social insurance number on the application for the Account shall be deemed to be a certification by you and an undertaking to provide any further evidence of same that is satisfactory to and as may be required by the Trustee. The Trustee may rely upon the statement of your name, date of birth

15 and social insurance number in the application in registering the Account, and you warrant that such information accords to that provided by you and held on file with the Canada Revenue Agency (CRA). Failure to provide the Trustee with accurate disclosure of your name, date of birth, and social insurance number and that accords to that information as held on file with the CRA, may result in rejection of the application to register the Account at sole loss, cost, risk and expense of you, and you will have no right of recourse against the Trustee.” Amendments related to Use as Security for a Loan section: 27) Changed from “You may use your interest or, for civil law, right in the Account as security for a loan or other indebtedness provided that: (a) The terms and conditions of the indebtedness are those which persons dealing at arm's length with each other would have entered into; and (b) It can reasonably be concluded that none of the main purposes for such use is to enable a person (other than the holder) or a partnership to benefit from the exemption from tax provided by the Account. To the extent the rights outlined in Paragraph 5 and Paragraph 13(a) are inconsistent with using an interest or right in the Account as security for a loan or other indebtedness, Paragraph 5 and Paragraph 13(a) will not apply.” To “You may use your interest or, for civil law, right in the Account as security for a loan or other indebtedness provided that: (a) the terms and conditions of the indebtedness are those which persons dealing at arm's length with each other would have entered into; and (b) it can reasonably be concluded that none of the main purposes for such use is to enable a person (other than the holder) or a partnership to benefit from the exemption from tax provided by the Account. To the extent the rights outlined in Paragraph 4 and Paragraph 12(a) are inconsistent with using an interest or right in the Account as security for a loan or other indebtedness, Paragraph 4 and Paragraph 12(a) will not apply.” Amendments related to Borrowing Money section: 28) “The Account may not borrow money or other property.” Changed from To “The Account may not borrow money or other property or take any other action that would result in the Account being considered to be indebted to any person or partnership.” Amendments related to Replacement of Trustee section: 30) “Replacement of Trustee: The Trustee may resign its trust and be discharged from all Changed from further duties and liabilities hereunder upon sixty (60) days’ notice in writing to you, or such shorter notice as you shall accept as sufficient, provided that a successor trustee has been appointed in writing by HSBC Investment Funds (Canada) Inc. and the successor trustee has accepted such appointment. In the event of a change of trustee, the Trustee shall transfer the Account in such form and manner as may be prescribed by the Act together with such information as is necessary to continue the administration thereof to the successor trustee within ninety (90) days after giving notice in writing to you of such resignation.

16 If a successor trustee cannot be found, the Trustee may apply to a court of competent jurisdiction for the appointment of a successor trustee. In such event, HSBC Investment Funds (Canada) Inc. shall bear the costs incurred by the Trustee in appointing a successor trustee.” To “Replacement of Trustee and Termination: The Trustee may resign as trustee and be discharged from all further duties and liabilities upon not less than 60 days’ written notice to the holder, or such shorter period as the holder shall accept as sufficient. In the event of such resignation, the Trustee will, prior to the resignation taking effect, appoint a successor to act as trustee of the Account who shall be acceptable under the provisions of the Act (the “Successor Depositary or Trustee”), and the Trustee shall transfer the assets of the Account to the Successor Depositary or Trustee together with all records, books, reports and accounts of the Account within three months of the Trustee ceasing to hold the Account. Upon the resignation of the Trustee taking effect, the Trustee shall be released and discharged from all duties and liabilities under this Trust Declaration and Applicable Laws. If a successor trustee cannot be found, the Trustee may apply to a court of competent jurisdiction for the appointment of a successor trustee. In such event, the Trustee will bear the costs incurred by the Trustee in appointing a successor trustee. In the alternative, the Trustee may, in its sole discretion, terminate its relationship with the holder by delivering a demand, in writing, that by no less than 60 days’ after the date of the demand, or such shorter period as the holder accepts as sufficient, the Holder must (a) provide a written instruction to the Trustee, in accordance with Paragraph 12, to transfer the Contributions to a TFSA held by a third party trustee or depository, and (b) pay all Expenses and Taxes. If the holder fails or refuses to deliver the instruction, as demanded, the holder’s failure to do so will be deemed to be an instruction to the Trustee to liquidate the Contributions and pay the Account proceeds to the Holder. In such case, payment to the Holder may be effected by the Trustee by sending a cheque or draft payable to the holder’s address and after sending such payment the Trustee shall be discharged of any further duties and any resulting loss, Expenses, or Taxes, even if arising solely as a result of the Trustee exercising its rights pursuant to this section, shall be the sole responsibility of the holder without any right of recourse against the Trustee.” Amendments related to Applicable Laws section: Changed from “This Declaration of Trust shall be governed by and construed in accordance with the 31) laws of the Province of British Columbia and the laws of Canada applicable therein except that the term “spouse” includes any person who is recognized as a spouse or common-law partner for the purposes of any provision of the Act respecting tax-free savings accounts.” To “This Declaration of Trust will be governed by and construed in accordance with the laws of Canada except that the term “spouse” includes any person who is recognized as a spouse or common-law partner for the purposes of any provision of the Act respecting TFSAs.” Amendments related to Quebec Only section: 32) Changed from “It is the express wish of the parties that this Declaration of Trust and any related documents be drawn up and executed in English. Les parties conviennent que la présente convention et tous les documents s’y rattachant soient rédigés et signés en anglais.”

17 To “It is the express wish that this Declaration of Trust and any related documents be drawn up and executed in English. Les parties conviennent que la presente convention et tous les documents s’y rattachant soient rediges et signes en anglais.” Amendments related to Binding Agreement section: 33) Changed from “The terms and conditions of this Declaration of Trust shall be binding upon your heirs, executors, administrators and assigns and upon the successors and assigns of the Trustee.” To “This Declaration of Trust is binding upon your heirs, executors, administrators and assigns and upon the successors and assigns of the Trustee.”

18 Section: RSP Declaration of Trust (page 15-19) Amendments related to Contributions section: Added 4) “You are solely responsible for determining whether the aggregate amount of your contributions to the Fund are within the contribution limits imposed by Applicable Tax Legislation.” Amendments related to Non-Qualified Investment and Prohibited Investments section: Removed entire section. Added Qualified Investment section: Added “You are responsible for ensuring that the investments held in your Plan are at all times 6) qualified investments for your Plan under the Act.” Added Prohibited Investment section: 7) Added “You are responsible for ensuring that the investments held in your Plan do not at any time include a prohibited investment for your Plan under the Act. It is your sole responsibility to determine whether any investment is, or could become, a prohibited investment for your Plan under the Act and to determine whether such investment could result in the imposition of any taxes.” Added Taxes and Penalties on Non-Qualified and Prohibited Investments section: 8) Added “The Trustee and the Agent will exercise the care, diligence and skill of a reasonably prudent person to minimize the possibility that the Plan holds a non-qualified investment, however neither the Trustee nor the Agent will be liable for or in respect of any taxes, interest, penalties or other charges which may be imposed on you, the Plan, the Trustee or the Agent under Applicable Tax Legislation, including the Act, whether by way of assessment, reassessment or otherwise or for any other charges levied or imposed by any governmental authority, due to payments out of the Plan or the purchase, sale or retention of any investment, including an investment that is a non-qualified investment or a prohibited investment for your Plan under the Act. The Trustee is authorized to reimburse itself and the Plan for, or may pay, any such taxes, interest, penalties or other charges out of whichever assets of the Plan it may choose in its absolute discretion and where necessary the Trustee, in its absolute discretion, may liquidate investments of the Plan to provide payment of such taxes, interest, penalties or other charges and reasonable expenses in connection with such payment. You and your heirs, executors and administrators shall indemnify and hold harmless at all times both the Trustee and the Agent in respect of any such taxes and reasonable expenses imposed on either the Trustee or the Agent. Neither the Trustee nor the Agent will be liable for any loss to or diminution of the assets of the Plan resulting from any act or omission in connection with the Plan, except to the extent that such loss or diminution is directly caused by the Trustee's breach of the standard of care referred to in Paragraph 22 hereof.” Amendments related to Refund of Excess Amounts section: 11) Changed from “The Trustee shall, upon written application by you or your spouse, in form satisfactory to the Trustee, pay an amount to the taxpayer in order to reduce the amount of tax

19 otherwise payable under Part X.1 of the Act. The Trustee will not have any responsibility whatsoever for determining the amount as stated in the preceding sentence in respect of any registered retirement savings plan.” To “The Trustee shall, upon written application by you or your spouse, in form satisfactory to the Trustee, pay an amount to you in order to reduce the amount of tax otherwise payable under Part X.1 of the Act. The Trustee will not have any responsibility whatsoever for determining the amount as stated in the preceding sentence in respect of any registered retirement savings plan.” Amendments related to No Advantages section: 16) Changed from “Neither the Trustee nor any person who deals at arm’s length with the Trustee shall extend an advantage (as defined in section 207.01 of the Act) in relation to the Plan to you, the Plan or to any person with whom you do not deal at arm’s length.” To “No advantage (as defined for this purpose in the Act or any equivalent provision of Applicable Tax Legislation) in relation to the Plan may be extended to, or received by, you, the Plan, or any person who does not deal at arm’s length with you.” Amendments related to Trustee Fees and Disbursements section: 17) Changed from “(a) The Trustee shall be entitled to compensation for its services, and reimbursement of disbursements hereunder, in accordance with the fee schedule provided to you, as amended from time to time. Notice of amendments to such schedule shall be given to you and shall take effect no earlier than thirty (30) days from the date of such notice which may be effected in accordance with the method set out in Paragraph 19 hereof. (b) All fees, taxes and reimbursements of disbursements provided for hereunder (other than those taxes, interest and penalties for which the Trustee is liable in accordance with the Act and that cannot be charged against or deducted from the assets of the Plan) shall be charged against and deducted from the investments of the Plan, at such time or times during each year as the Trustee may, in its absolute discretion determine, and where necessary, the Trustee, in its sole and absolute discretion, may liquidate investments of the Plan to provide for payment of such fees, taxes and reimbursements. The Trustee shall not be responsible for any loss which results from such liquidation. To “(a) The Trustee shall be entitled to compensation for its services, and reimbursement of disbursements hereunder, in accordance with the fee schedule provided to you, as amended from time to time. Notice of amendments to such schedule shall be given to you and shall take effect no earlier than thirty (30) days from the date of such notice which may be effected in accordance with the method set out in Paragraph 21 hereof. (b) All fees, taxes and reimbursements of disbursements provided for hereunder shall be charged against and deducted from the investments of the Plan, at such time or times during each year as the Trustee may, in its absolute discretion determine, and where necessary, the Trustee, in its sole and absolute discretion, may liquidate investments of the Plan to provide for payment of such fees, taxes and reimbursements. The Trustee shall not be responsible for any loss which results from such liquidation.”

20 Amendments related to Indemnity section: 24) “You, any beneficiary receiving proceeds payable under Paragraph 12, and Changed from your heirs, executors and legal representatives agree to indemnify at all times the Trustee, the Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents against and hold them harmless from all taxes, interest, penalties, assessments, expense, loss, liability, claims, and demands whatsoever in respect of the Plan (other than those taxes, interest and penalties for which the Trustee is liable in accordance with the Act and that cannot be charged against or deducted from the assets of the Plan), including but not limited to those arising from the acquisition, holding or disposition of investments by the Plan or anything done hereunder, except if due to the Trustee’s negligence, deliberate wrongdoing or lack of good faith. “ To “You, any beneficiary receiving proceeds payable under Paragraph 14 and your heirs, executors and legal representatives agree to indemnify at all times the Trustee, the Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents against and hold them harmless from all taxes, interest, penalties, assessments, expenses (including, for greater certainty, all expenses incurred in respect of any audit by a governmental authority of the Plan), losses, liabilities, claims, and demands whatsoever in respect of the Plan including but not limited to those arising from the acquisition, holding or disposition of investments by the Plan or anything done hereunder, except if due to the Trustee’s negligence, deliberate wrongdoing or lack of good faith. You authorize the Trustee to reimburse itself to satisfy this indemnity and to sell investments held in the Plan to generate funds to satisfy this indemnity. This indemnity survives the termination of the Plan.”

21 Section: RIF Declaration of Trust (pages 19-23) Amendments related to Contributions section: 1. “(e) A deferred profit sharing plan in accordance with subsection 147(19) of the Act; or” 4) Added 2. Added “(i) A pooled registered pension plan in accordance with subsection 147.5(21) of the Act.” Amendments related to Non-Qualified Investment and Prohibited Investments section: Removed entire section. Added Qualified Investment section: Added “You are responsible for ensuring that the investments held in your Plan are at all times 6) qualified investments for your Plan under the Act.” Added Prohibited Investment section: 7) Added “You are responsible for ensuring that the investments held in your Plan do not at any time include a prohibited investment for your Plan under the Act. It is your sole responsibility to determine whether any investment is, or could become, a prohibited investment for your Plan under the Act and to determine whether such investment could result in the imposition of any taxes.” Added Taxes and Penalties on Non-Qualified and Prohibited Investments section: Added “The Trustee and the Agent will exercise the care, diligence and skill of a reasonably prudent 8) person to minimize the possibility that the Plan holds a non-qualified investment, however neither the Trustee nor the Agent will be liable for or in respect of any taxes, interest, penalties or other charges which may be imposed on you, the Plan, the Trustee or the Agent under Applicable Tax Legislation, including the Act, whether by way of assessment, reassessment or otherwise or for any other charges levied or imposed by any governmental authority, due to payments out of the Plan or the purchase, sale or retention of any investment, including an investment that is a non-qualified investment or a prohibited investment for your Plan under the Act. The Trustee is authorized to reimburse itself and the Plan for, or may pay, any such taxes, interest, penalties or other charges out of whichever assets of the Plan it may choose in its absolute discretion and where necessary the Trustee, in its absolute discretion, may liquidate investments of the Plan to provide payment of such taxes, interest, penalties or other charges and reasonable expenses in connection with such payment. You and your heirs, executors and administrators shall indemnify and hold harmless at all times both the Trustee and the Agent in respect of any such taxes and reasonable expenses imposed on either the Trustee or the Agent. Neither the Trustee nor the Agent will be liable for any loss to or diminution of the assets of the Plan resulting from any act or omission in connection with the Plan, except to the extent that such loss or diminution is directly caused by the Trustee's breach of the standard of care referred to in Paragraph 18 hereof.”

22 Amendments related to Trustee Fees and Disbursements section: 14) “(a) The Trustee shall be entitled to compensation for its services, and Changed from reimbursement of disbursements hereunder, in accordance with the fee schedule provided to you, as amended from time to time. Notice of amendments to such schedule shall be given to you and shall take effect no earlier than thirty (30) days from the date of such notice which may be effected in accordance with the method set out in Paragraph 15 hereof. (b) All fees, taxes and reimbursements of disbursements provided for hereunder (other than those taxes, interest and penalties for which the Trustee is liable in accordance with the Act and that cannot be charged against or deducted from the assets of the Plan) shall be charged against and deducted from the investments of the Plan, at such time or times during each year as the Trustee may, in its absolute discretion determine, and where necessary, the Trustee, in its sole and absolute discretion, may liquidate investments of the Plan to provide for payment of such fees, taxes and reimbursements. The Trustee shall not be responsible for any loss which results from such liquidation. To “(a) The Trustee shall be entitled to compensation for its services, and reimbursement of disbursements hereunder, in accordance with the fee schedule provided to you, as amended from time to time. Notice of amendments to such schedule shall be given to you and shall take effect no earlier than thirty (30) days from the date of such notice which may be effected in accordance with the method set out in Paragraph 17 hereof. (b) All fees, taxes and reimbursements of disbursements provided for hereunder shall be charged against and deducted from the investments of the Plan, at such time or times during each year as the Trustee may, in its absolute discretion determine, and where necessary, the Trustee, in its sole and absolute discretion, may liquidate investments of the Plan to provide for payment of such fees, taxes and reimbursements. The Trustee shall not be responsible for any loss which results from such liquidation.” Amendments related to Tax Information for Citizens and Residents of Countries Outside of Canada section: 15) Changed from “If you are also a citizen of a country other than Canada, we strongly advise you to contact your professional tax advisor before investing in a Canadian registered plan, and on a regular basis thereafter. It is important that you are aware of the foreign tax consequences and reporting and filing requirements, if any, associated with being an owner or part-owner of a Canadian registered plan. Failure to comply with any such requirements can have significant penalties.” To “If you are also a citizen of a country other than Canada, we strongly advise you to contact your professional tax advisor before investing in a Canadian registered plan, and on a regular basis thereafter. It is important that you are aware of the foreign tax consequences and reporting and filing requirements, if any, associated with being an owner or part-owner of a Canadian registered plan. Failure to comply with any such requirements can result in significant penalties.”

23 Amendments related to Indemnity section: 20) “You, any beneficiary receiving proceeds payable under Paragraph 9, and your heirs, Changed from executors and legal representatives agree to indemnify at all times the Trustee, the Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents against and hold them harmless from all taxes, interest, penalties, assessments, expense, loss, liability, claims, and demands whatsoever in respect of the Plan (other than those taxes, interest and penalties for which the Trustee is liable in accordance with the Act and that cannot be charged against or deducted from the assets of the Plan), including but not limited to those arising from the acquisition, holding or disposition of investments by the Plan or anything done hereunder, except if due to the Trustee’s negligence, deliberate wrongdoing or lack of good faith. “ To “You, any beneficiary receiving proceeds payable under Paragraph 9, and your heirs, executors and legal representatives agree to indemnify at all times the Trustee, the Agent, its subsidiaries and affiliates and each of their respective officers, directors, employees and agents against and hold them harmless from all taxes, interest, penalties, assessments, expenses (including, for greater certainty, all expenses incurred in respect of any audit by a governmental authority of the Plan), losses, liabilities, claims, and demands whatsoever in respect of the Plan including but not limited to those arising from the acquisition, holding or disposition of investments by the Plan or anything done hereunder, except if due to the Trustee’s negligence, deliberate wrongdoing or lack of good faith. You authorize the Trustee to reimburse itself to satisfy this indemnity and to sell investments held in the Plan to generate funds to satisfy this indemnity. This indemnity survives the termination of the Plan.”

24 Section: Additional Information for Education Savings Plan Account Subscribers – Terms and Conditions (pages 29-35) Amendments related to What Is Our Liability and What Is The Trustee’s Liability section: 21) Changed from “(c) Any cost incurred in performing our respective duties under this agreement, or the Applicable Tax Legislation.” To “Any cost (including, for greater certainty, any costs or expenses incurred in the course of any audit by a Governmental Authority of the Plan) incurred in performing our respective duties under this agreement, or the Applicable Tax Legislation.”

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