TERMS OF USE

Use of The Renaissance Group LLC d.b.a. Renaissance Investment Management (“Renaissance”) website (“Site”) or any links to third-party websites within this Site signifies that you accept the following Terms of Use. Nothing contained in these Terms of Use is intended to modify or amend any other written agreement, if any, that may currently be in effect between you and Renaissance with regard to matters other than your use of the Site. Renaissance may periodically modify these Terms of Use, and any such modifications will be effective immediately upon posting. We suggest that you periodically check these Terms of Use for modifications. If you do not agree to the Terms of Use, do not use this Site or the third-party website links it contains.

Renaissance expressly reserves the right to monitor any and all use of this Site, without liability.

Use of this Site shall be deemed to be acceptance of the following Terms of Use.

PERSONS RESIDING OUTSIDE THE UNITED STATES

Renaissance’s investment management services are offered only for sale in the United States, including Puerto Rico, U.S. Virgin Islands and the District of Columbia. Renaissance is not registered to provide investment management services in any other country or location other than the locations referenced above. Nothing on this Site should be considered a solicitation to provide investment management services in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such foreign jurisdiction or the United States.

LIMITED LICENSE AND RESTRICTIONS ON USE

Renaissance grants you a limited, revocable, nonexclusive, nontransferable license to view, store, bookmark, download and print the pages within this Site solely for your personal, informational and noncommercial use or as expressly authorized by Renaissance in writing. You are responsible for obtaining and maintaining all equipment, services and other materials that you need to access this Site. Renaissance reserves all rights not expressly granted in these

Terms of Use. Except as otherwise stated in these Terms of Use as expressly authorized by Renaissance in writing, you may not:

• Modify, copy, distribute, transmit, post, display, perform, reproduce, publish, broadcast, license, create derivative works from, transfer, sell or exploit any reports, data, information, content, software, podcast feeds, products, services, or other materials on, generated by or obtained from this Site, whether through links or otherwise (collectively, “materials”); Redeliver any page, text, image or materials on this Site using “framing” or other technology;
• Engage in any conduct that could damage, disable or overburden (i) this Site, (ii) any materials or services provided through this Site, or (iii) any systems, networks, servers or accounts related to this Site, including, without limitation, using devices or software that provide repeated automated access to this Site, other than those made generally available by Renaissance;
• Probe, scan or test the vulnerability of any materials, services, systems, networks, servers or accounts related to this Site or attempt to gain unauthorized access to materials, services, systems, networks, servers or accounts connected or associated with this Site through hacking, password or data mining, or any other means of circumventing any access-limiting, user authentication or security device of any materials, services, systems, networks, servers or accounts related to this Site;
• Modify, copy, obscure, remove or display Renaissance’s name, logo, trademarks, tests, notices or images without Renaissance’s express written permission.

 COPYRIGHT POLICY, NOTICE AND CLAIM INFORMATION

Renaissance owns and operates this Site and all materials on this Site whether separate or compiled, including but not limited to, text, graphics and audio clips. Logos, buttons, images, digital downloads, data compilations, software, icons, html code and xml code, as well as all copyright, patent, trademark, trade dress and other rights therein, are owned or licensed by Renaissance and its third-party information providers, and are protected by United States and international intellectual property laws.

LINKING

You may not link to this Site unless Renaissance expressly grants usage permission to do so. Renaissance may link third-party websites to this Site, and the risks of utilizing any links contained in this website are described under the Third-Party Content section below.

DATA, INFORMATION AND CONTENT

The materials on this Site are for informational, educational and noncommercial purposes only. Although Renaissance may provide data, information and content relating to investment approaches, you should not construe any such information or other content available through this Site as legal or tax advice. You alone will bear the sole responsibility of evaluating the merits and risks associated with the use of any materials on this Site before making any decisions based on such materials. In exchange for using such materials, you agree not to hold Renaissance and its directors (trustees), officers, employees or its third-party information providers liable for any possible claim for damages arising from any decision you make based on the materials made available to you through this Site. By providing access to other websites, neither Renaissance nor any of its affiliates are recommending the purchase or sale of the stock issued by any company, nor are they endorsing services provided by any website’s sponsoring organization.

WEBSITE AVAILABILITY

We reserve the right to make the Renaissance website unavailable, from time to time, for any reason at any time without prior notice. Renaissance will use commercially reasonable efforts to make the site available on a 24×7 basis, with e-mail and telephone support available during the hours from 9 a.m.-5 p.m. Eastern Standard Time on days when the New York Stock Exchange is open for business. Under no circumstances will Renaissance be liable at any point for any loss, cost of damage that may result from any period of downtime occurring at the website.

The Renaissance website may contain links to third-party websites. Renaissance is not responsible for the accuracy or content of websites of other business entities whether they are affiliates or not, which may have links from this site. Accordingly, Renaissance can make no representation concerning the content of these sites to any client or potential client of Renaissance, nor can the fact that there is a link serve as an endorsement of this or any other site, and these links are provided only as a convenience to Renaissance clients or potential clients.

OWNERSHIP OF OTHER MATERIALS

All trademarks, service marks and logos appearing on this Site are the exclusive property of their respective owners.

All Renaissance graphics, logos, page headers and service names are trademarks, service marks or trade dress of Renaissance.  Renaissance’s trademarks, service marks and trade dress may not be used in connection with any product or service or in any manner that is likely to cause confusion among customers or investors, or in any manner that disparages or discredits Renaissance. Nothing contained on this Site should be construed as granting any license or right to any trademarks, service marks or trade dress of Renaissance.

THIRD-PARTY CONTENT

Data and other materials appearing on this Site that are provided by third-parties are believed by Renaissance to be obtained from reliable sources, but Renaissance cannot guarantee and is not responsible for their accuracy, timeliness, completeness or suitability for use. Renaissance is not responsible for and does not prepare, edit or endorse the content, advertising, products or other materials on or available from any website owned or operated by a third-party that is linked to this Site. The fact that Renaissance has provided a link to a third-party’s website does not constitute an implicit or explicit endorsement, authorization, sponsorship or affiliation by Renaissance with respect to such website, its owners, providers or services. Use of any such third-party content at your own risk.

WARRANTY DISCLAIMERS

YOU EXPRESSLY UNDERSTAND AND AGREE THAT:

THERE ARE NO IMPLIED OR EXPRESSED WARRANTIES ON THE MATERIALS ON THIS SITE; THE MATERIALS ON THIS SITE AND CONTAINED IN ANY THIRD-PARTY LINKED SITES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. RENAISSANCE, AFFILIATES, AGENTS, DIRECTORS (AND TRUSTEES), OFFICERS, EMPLOYEES, LICENSORS AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS DISCLAIM, TO THE FULLEST EXTENT UNDER APPLICABLE LAW, ANY WARRANTY OF ANY KIND, WHETHER EXPRESSED OR IMPLIED, AS TO ANY MATTER WHATSOEVER RELATING TO THIS SERVICE, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT AND ALL WARRANTIES REGARDING SECURITY, CURRENCY, CORRECTNESS, QUALITY, ACCURACY, COMPLETENESS, RELIABILITY, PERFORMANCE, TIMELINESS OR CONTINUED AVAILABILITY, WITH RESPECT TO (I) THE SITE; (II) ANY MATERIALS, PRODUCTS OR SERVICES AVAILABLE ON OR THROUGH THE SITE; (III) USE OF THE SITE, MATERIALS, PRODUCTS OR SERVICES; AND (IV) THE RESULTS OF THE USE OF THE SITE, MATERIALS, PRODUCTS OR SERVICES. FURTHER, RENAISSANCE, AFFILIATES, DIRECTORS (AND TRUSTEES), OFFICERS, EMPLOYEES, AGENTS, LICENSORS AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS EXPRESSLY DISCLAIM ALL WARRANTIES WITH RESPECT TO ANY DELAYS OR ERRORS IN THE TRANSMISSION OR DELIVERY OF ANY MATERIALS, PRODUCTS OR SERVICES AVAILABLE THROUGH THIS SITE. EXCEPT AS PROVIDED BY LAW, NEITHER RENAISSANCE NOR ITS THIRD-PARTY INFORMATION PROVIDERS AND VENDORS HAVE ANY RESPONSIBILITY TO MAINTAIN THE MATERIALS, PRODUCTS OR SERVICES OFFERED ON THE SITE OR TO SUPPLY CORRECTIONS, UPDATES OR RELEASES FOR THE SAME. USE OF THIS SERVICE IS AT YOUR OWN RISK. ANY REFERENCE TO A FUND OR SECURITY ANYWHERE ON THIS WEBSITE OR A LINKED WEBSITE IS NOT A RECOMMENDATION TO BUY, SELL OR HOLD THAT OR ANY OTHER SECURITY. IF YOU LIVE IN A STATE THAT DOES NOT ALLOW DISCLAIMERS OF CERTAIN WARRANTIES, SOME OF THE ABOVE EXCLUSIONS MAY NOT APPLY TO YOU. THIS WARRANTY GIVES YOU SPECIFIC LEGAL RIGHTS AND MAY HAVE OTHER RIGHTS, WHICH VARY FROM JURISDICTION TO JURISDICTION.

LIABILITY AND INDEMNITY

ANY MATERIALS DOWNLOADED OR OTHERWISE OBTAINED THROUGH THIS SITE OR THROUGH ANY LINKS TO THIRD-PARTY SITES ARE DONE AT YOUR OWN RISK. YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER EQUIPMENT, OR LOSS OF DOWNLOADED OR OBTAINED DATA THAT RESULTS FROM SUCH DOWNLOAD.

NEITHER RENAISSANCE NOR ITS AFFILIATES, DIRECTORS (AND TRUSTEES), OFFICERS, EMPLOYEES, AGENTS, LICENSORS OR ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS WILL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO:

• DAMAGES FOR LOSS OF PROFITS, REVENUE, INCOME, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, OR DAMAGES CAUSED BY THEFT, UNAUTHORIZED ACCESS, SYSTEMS FAILURE OR COMMUNICATIONS LINE FAILURE; OR,
• THE COST OF PROCURING SUBSTITUTE GOODS OR SERVICES, CAUSED BY THE USE OF OR INABILITY TO USE THE SITE, MATERIALS; OR,
• ANY PRODUCTS OR SERVICES PROVIDED HEREIN, OR ANY OTHER MATTER RELATING TO THIS SITE, EVEN IF RENAISSANCE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE EXCLUSIONS OR LIMITATIONS MAY NOT APPLY TO YOU. TO THE EXTENT THAT A JURISDICTION DOES NOT PERMIT THE EXCLUSION OR LIMITATION OF LIABILITY AS SET FORTH HEREIN, THE LIABILITY OF RENAISSANCE AND ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS IS LIMITED TO THE EXTENT PERMITTED BY LAW IN SUCH JURISDICTIONS.

You agree to indemnify, defend and hold harmless Renaissance, its affiliates, and each of their respective officers, directors (and trustees), employees and agents from and against all claims, demands, liabilities, damages, losses or expenses (including attorney’s fees and costs), arising out of or related to your improper access to or use of this Site, or any violation by you of these Terms of Use.

JURISDICTION

The information on this Site or any linked third-party sites is for informational purposes only and is subject to change without notice. Products and services described on this Site may not be suitable for all users. The contents hereof do not constitute an offer or a solicitation to buy or sell any financial instrument, product or service. FURTHERMORE, THE CONTENTS HEREOF ARE NOT INTENDED FOR ACCESS BY, DISTRIBUTION TO, OR USE BY, ANY PERSON OR ENTITY IN ANY JURISDICTION OR COUNTRY WHERE SUCH ACCESS, DISTRIBUTION OR USE WOULD BE CONTRARY TO LOCAL LAW OR REGULATION. Not all products and services mentioned on this Site or at any linked third-party sites are available in all jurisdictions.

Certain portions or pages of this Site are subject to additional disclosures and disclaimers. In the event of a conflict between those disclosures and disclaimers and these terms and conditions, the additional disclosures and disclaimers will govern for such portions and pages.

INTEGRATION AND SEVERABILITY

If any provision of these Terms of Use is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms of Use and will not affect the validity and enforceability of the remaining provisions. The preceding Terms of Use represent the entire agreement between Renaissance and the user relating to the subject matter herein.

Terms of Use as of: August 9, 2019