Investment Disclaimer

1. NOT FINANCIAL ADVICE

All content provided by Dombey Capital is for informational and educational purposes only. Nothing on this platform, including but not limited to research reports, intelligence briefs, Phoenix earnings reports, catalyst watchlists, investment memos, market analysis, or any other materials (collectively, the "Content") constitutes personalized investment advice, a recommendation to buy or sell any security, or an offer to provide investment advisory services.

Dombey Capital is not a registered investment advisor with the U.S. Securities and Exchange Commission (SEC), any state securities regulator, or any other regulatory authority. We are not a broker-dealer, do not manage client assets, and do not provide individualized investment advice tailored to your specific financial situation, objectives, or risk tolerance.

The Content represents general market commentary, curated intelligence from third-party sources, and our own research observations. You should not construe any Content as specific investment advice or recommendations directed to you personally.

Before making any investment decision, you should consult with a licensed financial advisor, certified public accountant, attorney, or other qualified professional who can assess your individual circumstances and provide personalized guidance.

2. PAST PERFORMANCE DISCLAIMER

Past performance does not necessarily predict future results. Any historical returns, projections, valuations, or performance data presented in our Content should not be considered indicative of future performance.

Market conditions, economic factors, regulatory environments, and company-specific circumstances are subject to change. Historical patterns may not repeat, and previously successful strategies may not yield similar results in the future. All investments carry the inherent risk of loss.

3. NO GUARANTEES OR WARRANTIES

Our Content is provided on an "as is" and "as available" basis without any guarantees, warranties, or representations of any kind, whether express or implied, including but not limited to:

• Accuracy, completeness, timeliness, or reliability of the information
• Suitability for any particular purpose or investment objective
• Freedom from errors, omissions, or technical defects
• Achievement of any specific investment outcome or return

We make no guarantee that the Content is error-free or that it will meet your individual needs. Information presented does not account for your specific financial situation, risk tolerance, investment horizon, tax circumstances, or other individual factors that may be material to your investment decisions.

4. THIRD-PARTY CONTENT AND AGGREGATION

Dombey Capital curates and aggregates intelligence from a variety of third-party sources, including but not limited to publicly available research, market data providers, news outlets, regulatory filings, and proprietary data services.

We do not independently verify all third-party information. While we exercise reasonable care in selecting sources, we make no representations or warranties regarding the accuracy, completeness, or reliability of third-party content. Original sources retain copyright and responsibility for their respective materials.

Links to external websites, research platforms, or data providers do not constitute an endorsement of those sites or their content. We are not responsible for the availability, accuracy, privacy practices, or content of third-party sites. You access third-party content at your own risk and should review their respective terms and policies independently.

5. FORWARD-LOOKING STATEMENTS

Our Content may include forward-looking statements, projections, forecasts, valuations, price targets, earnings estimates, and other predictive analysis. These forward-looking statements are inherently speculative and subject to substantial uncertainty.

Actual results may differ materially from any forward-looking statements. Numerous factors can cause actual outcomes to deviate significantly from projections, including but not limited to:

• Changes in macroeconomic conditions, interest rates, or market sentiment
• Regulatory, legal, or political developments
• Company-specific operational, financial, or management changes
• Unforeseen geopolitical events, natural disasters, or systemic shocks
• Competitive dynamics and technological disruption

We have no obligation to update forward-looking statements or to publicly announce revisions to any projections, even if underlying assumptions change.

6. INVESTMENT RISK DISCLOSURE

Investing in securities involves substantial risk of loss. You may lose some or all of your invested capital. Only invest capital that you can afford to lose entirely.

Risks associated with securities investments include, but are not limited to:

• Market Risk: The value of securities fluctuates based on market conditions, investor sentiment, and economic factors beyond our or your control.
• Liquidity Risk: Some securities may be difficult to sell quickly at fair market value, particularly in volatile or illiquid markets.
• Credit Risk: Issuers may default on debt obligations or experience financial distress.
• Concentration Risk: Concentrated positions (as emphasized in Dombey Capital's investment philosophy) amplify both gains and losses.
• Leverage Risk: Use of margin, derivatives, or leveraged instruments magnifies potential losses.
• Volatility Risk: Securities prices may experience rapid and unpredictable changes.
• Currency Risk: For international investments, exchange rate fluctuations may adversely affect returns.
• Regulatory and Political Risk: Changes in laws, regulations, or government policies may negatively impact investments.

Concentrated, event-driven, and catalyst-based strategies (as employed by Dombey Capital) may carry heightened risk. Special situations such as merger arbitrage, spinoffs, restructurings, and earnings-driven plays involve specific risks including deal failure, unexpected delays, regulatory intervention, and adverse market reactions.

7. NO REGULATORY SUPERVISION

Dombey Capital Management is not registered with the U.S. Securities and Exchange Commission (SEC) as an investment advisor under the Investment Advisers Act of 1940. We are not registered as a broker-dealer with the SEC or the Financial Industry Regulatory Authority (FINRA). We are not registered with any state securities regulator.

As such, our Content is not subject to regulatory oversight or examination by the SEC, FINRA, or state regulators. We do not hold client assets, execute trades on behalf of clients, or provide personalized portfolio management services.

8. CONFLICTS OF INTEREST

Dombey Capital's principals and affiliated persons may hold positions in securities discussed in our Content. We invest our own capital and may buy or sell securities before, during, or after publication of research or intelligence reports.

While we strive for intellectual honesty and transparency, you should be aware that we may have financial interests that could present conflicts of interest. We are under no obligation to disclose our personal holdings or trading activity. You should assume that we may have positions in any securities we discuss and that we may profit from changes in the value of those securities.

9. LIMITATION OF LIABILITY

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, DOMBEY CAPITAL AND ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND AFFILIATES SHALL NOT BE LIABLE FOR ANY DAMAGES ARISING FROM YOUR USE OF OUR CONTENT OR PLATFORM.

This includes, but is not limited to:

• Investment losses, missed opportunities, or forgone profits
• Direct, indirect, incidental, consequential, special, or punitive damages
• Loss of data, business interruption, or loss of use
• Damages arising from errors, omissions, inaccuracies, or delays in Content
• Damages arising from reliance on third-party sources or external links

YOU ACKNOWLEDGE AND AGREE THAT YOU ASSUME ALL RISK FROM YOUR INVESTMENT DECISIONS. Dombey Capital is not responsible for any losses you incur as a result of using or relying on our Content, even if we have been advised of the possibility of such damages.

10. INDEPENDENT VERIFICATION REQUIRED

You are solely responsible for conducting your own due diligence and independent research before making any investment decision. Do not rely exclusively on our Content. Verify all information, review company filings, consult independent sources, and seek professional advice as appropriate.

11. NO OFFER TO SELL SECURITIES

Nothing in our Content constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation or endorsement for any security, investment product, or investment strategy. Our Content does not constitute a prospectus, offering memorandum, or similar disclosure document.

12. JURISDICTION AND ELIGIBILITY

Our Content is intended for users located in the United States. If you access our platform from outside the United States, you do so at your own risk and are responsible for compliance with local laws and regulations.

Certain investment strategies or securities discussed may not be suitable or available for all investors, particularly those subject to regulatory restrictions in non-U.S. jurisdictions.

13. CHANGES TO THIS DISCLAIMER

We reserve the right to modify this Disclaimer at any time without prior notice. Changes will be effective immediately upon posting to our website. Your continued use of our platform following any changes constitutes acceptance of the revised Disclaimer. We recommend reviewing this page periodically.

14. CONTACT INFORMATION

If you have questions about this Disclaimer, please contact us:

Dombey Capital Management
Email: legal@dombey.capital
Location: San Francisco, CA