IMPORTANT NOTES

1. This form may be used by any BPI/ BFB accountholder who intends to invest in investment funds.

2. Prior to opening an investment fund account, a settlement account, i.e. a BPI/ BFB deposit account is
required.

3. Client may or may not be an existing BPI Express Online (EOL) user. A client may enroll his/ her
deposit account in BPI Express Online, and thereafter, his investment fund account once s/he is an
EOL registered user. Enrollment of the investment fund account in EOL is necessary to gain access
to your investment fund account online.

4. The electronic Statement of Account (SOA) are viewable online and the electronic Transaction
Advice/s are sent through the client’s BPI EOL registered email address. Printed statements are
provided only upon request and may be subjected to fees.

IMPORTANT INSTRUCTIONS

1. Print, fill out and sign the succeeding account opening documents.

2. Submit these documents to your preferred BPI/ BFB branch. Visit http://www.bpiexpressonline.com/ to
find the branch nearest you.

Should you have any question, comment, or suggestion, please e-mail us at

[email protected] or call us through the numbers listed in the Contact Us page of our
website: http://www.bpiassetmanagement.com/.

We look forward to serving you.

IMPORTANT DISCLOSURES

THIS IS NOT A DEPOSIT PRODUCT. EARNINGS ARE NOT ASSURED AND

PRINCIPAL AMOUNT INVESTED IS EXPOSED TO RISK OF LOSS. THIS PRODUCT
CANNOT BE SOLD TO YOU UNLESS ITS BENEFITS AND RISKS HAVE BEEN
THOROUGHLY EXPLAINED. IF YOU DO NOT FULLY UNDERSTAND THIS PRODUCT,
DO NOT PURCHASE OR INVEST IN IT.

Revised_060116
 INVESTMENT ACCOUNT APPLICATION Section 1 of 4

Name : _______ _____________________ _____________________ ________________ _______

Title First Name Middle Name Last Name Suffix

Date of Birth : ____________________________ Place of Birth : ____________________________

Mother’s Maiden Name : ____________________________ Gender : ____________________________

Civil Status : ____________________________ No. of Dependents : ____________________________

Nationality : ____________________________ Country of Domicile : ____________________________

Educational Attainment : ____________________________ Tax Identification No. : ____________________________

IDs TO BE PRESENTED
Type of ID ID Number
ID 1 : ___________________________________ _____________________________________

ID 2 : ___________________________________ _____________________________________

PRESENT ADDRESS

No./Street : ____________________________ Brgy/Subd./Village : ____________________________

District/Town : ____________________________ City/Province : ____________________________

Country : ____________________________ ZIP Code : ____________________________

Telephone No. : ___________ _________ __________________________ _____________

Country Code Area Code Phone Number Local

Mobile No. : ____________________________ E-mail Address : ____________________________

PERMANENT ADDRESS

No./Street : ____________________________ Brgy/Subd./Village : ____________________________

District/Town : ____________________________ City/Province : ____________________________

Country : ____________________________ ZIP Code : ____________________________

Telephone No. : ___________ _________ __________________________ _____________

Country Code Area Code Phone Number Local

Mobile No. : ____________________________ E-mail Address : ____________________________

□ Permanent Address is same as Present Address

OFFICE/ BUSINESS

Floor/Building : ____________________________

No./Street : ____________________________ Brgy/Subd./Village : ____________________________

District/Town : ____________________________ City/Province : ____________________________

Country : ____________________________ ZIP Code : ____________________________

Telephone No. : ___________ _________ __________________________ ____________

Country Code Area Code Phone Number Local

Fax No. : ___________ _________ __________________________ ____________

Country Code Area Code Phone Number Local

E-mail Address : ____________________________

EMPLOYMENT INFORMATION

Employment Status : ____________________________

Profession/Position : ____________________________ Employer/Company Name : ___________________

Nature of Work/Business : ____________________________ Source of Funds : ___________________

PREFERRED MAILING ADDRESS FOR INVESTMENT ACCOUNT

No./Street : ____________________________ Brgy/Subd./Village : ____________________________

District/Town : ____________________________ City/Province : ____________________________

Country : ____________________________ ZIP Code : ____________________________

ACCOUNT INFORMATION

Nominated Settlement Account Number/s: PhP __________________ USD __________________

Account Base Currency : □ PHP □ USD
The currency used to reflect the total market value of the portfolio. This is particularly helpful when portfolio consists of investments in multiple
currencies saving the investors from the task of doing the conversions.
Enrollment in Express Online : EOL UserID __________________
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
For Branch Use Only: Signature of Branch Personnel: __________________
Please write the client’s investment account number in the space provided _______________________________________________
Please flag in FDS to enroll client’s investment account in EOL.

Revised_060116
 CLIENT SUITABILITY ASSESSMENT Section 2 of 4

This Client Suitability Assessment (CSA) is being conducted to help the relationship manager / sales personnel determine the client’s
understanding of the risks related to investing. The relationship manager / sales personnel shall:

1. Make a reasonable inquiry into the client's financial situation, investment experience, and investment objectives prior to making any
investment recommendations, and shall update this information as necessary;
2. Consider the appropriateness and suitability of investment recommendations or actions for each client;
3. Make a recommendation only if he reasonably believes that the recommendation is suitable to the client's financial situation,
investment experience, and investment objectives.

1. Investment Objective: What is your key investment objective?

(a) To protect principal amount of investments and earn steady stream of interest income.
(b) To preserve capital or real value of investments.
(c) To achieve growth through a balance between interest income and capital gain over a medium term period.
(d) To achieve significant growth or capital appreciation over the medium to long term period.
2. Investment Horizon: What portion of your investment can be placed in medium or long term investments, i.e., more than 3
years?
(a) 10% to 30% (c) 70% to 80%
(b) 40% to 60% ) 90% to 100%
3. Liquidity: Do you have regular liquidity requirements?
(a) I need to draw regular income from my investments and may use a portion of the principal in the short term.
(b) I do not need to draw regular income from my investments nor do I see the immediate need to use any portion of the
principal in the short term.
(c) I have other sources of liquidity and do not see a real need to use funds for the next 5 to 10 years.
(d) I have other sources of liquidity and do not see a real need to use funds for the next 10 years.

4. Investment Knowledge and Experience: What is your knowledge and experience on investments?
Minimal. I know bank deposits, BSP SDA, T-bills and money market placements.
Low. Outside deposits and short term government securities, I have experience investing in money market funds such
as corporate bonds and fixed income bonds.
Medium. I have experience investing in mutual funds, UITFs, foreign currencies and direct investment in listed stocks
and bonds.
High. I have an extensive experience in investing and have a broad understanding of the domestic and global capital
markets in general.
5. Investment Knowledge and Experience: How many years of experience have you had investing in securities, either directly or
through a fund manager?
(a) 1 year or less (c) More than 5 years up to 10 years
(b) More than 1 year up to 5 years (d) More than 10 years
6. Risk Tolerance: What is your tolerance for risk?
(a) I accept steady and minimal returns without any fluctuation in the principal amount of my investments.
(b) I accept minimal fluctuations in the principal amounts of my investments for commensurate returns.
(c) I accept a fair amount of fluctuation in the principal amount of my investments in order to achieve above average returns
and capital growth over the medium term.
(d) I am prepared for a high degree of volatility and possibly losses for certain periods in the principal amount of my
investment in order to achieve high returns or capital growth over a period of 5 years or more.

7. Risk Tolerance: If the value of your portfolio decreased by 20% in one year, how would you react?
(a) I will be very concerned and will immediately put my investment back to cash (i.e. in the form of deposits and/or short
term government securities).
(b) I will be very concerned and will find safer investment outlets, which are not necessarily cash.
I will be concerned and will review the aggressiveness of my portfolio.
I will NOT be concerned about the short-term fluctuation of certain investments in my portfolio.
8. Risk Tolerance: What is your average net worth for the last 2 years?
(a) P 5 M (USD100,000) and below (c) Over P 30M up to P 60 M (USD1.2M)
(b) Over P 5 M (USD100,000) up to P 30 M (USD600,000) (d) Over P 60 M

Revised_060116
 PARTICIPATING TRUST AGREEMENT Section 3 of 4

The TRUSTOR/s, through this Omnibus Participating Trust Agreement (the “Agreement”), hereby participate(s) in the Unit
Investment Trust Funds (the “FUND”) established and being managed by the Bank of the Philippine Islands - Asset
Management and Trust Group (“BPI-AMTG” or the “TRUSTEE”), said FUND now existing or to be offered in the future for
the collective investment and re-investment of sums of money received and held by BPI-AMTG as TRUSTEE of various
investors. For ABF Philippines Bond Index Fund (“ABF PBIF”), a UITF likewise constituted by the Bank of the Philippine
Islands - Asset Management and Trust Group (“BPI-AMTG” or the “MANAGER”), Hong Kong and Shanghai Banking
Corporation Limited (HSBC) has agreed to act as Trustee by virtue of the TRUST DEED.
It is expressly understood and agreed that this Agreement is subject to the respective FUND’s Rules and Regulations (the
“PLAN(s)/TRUST DEED”) governing such FUND being managed or which may be managed by BPI-AMTG and which
PLAN(s)/TRUST DEED are duly submitted to the Bangko Sentral ng Pilipinas (BSP). This Agreement does not, and
neither does it purport to, amend or modify the respective PLAN(s)/TRUST DEED to which the PLAN(s)/TRUST DEED
pertain. As such, the TRUSTOR/s hereby explicitly acknowledge(s) having read and fully understood the respective
PLAN(s)/TRUST DEED pertaining to his/their investment and is amenable to all the terms and conditions contained
therein.
Without limiting the terms and conditions of the said PLAN(s)/TRUST DEED, the TRUSTOR/s fully agree(s) to the
following:
1. AUTHORITY OF THE TRUSTEE/MANAGER – The TRUSTEE shall exercise absolute control, direction, and
management of the FUND, and shall administer the FUND within the framework of the policies set forth in the
PLAN(s)/TRUST DEED and such other policies that the TRUSTEE may from time to time adopt pursuant to the FUND’s
objectives. Each FUND shall be invested in a diversified portfolio concentrated in investment outlets within each FUND’s
specific investment policy and objectives as individually contained in each respective PLAN.
For ABF PBIF, the TRUSTOR/s hereby confirm(s) the power and authorities of BPI-AMTG as MANAGER and HSBC as
Trustee, and ratifies any and all acts, which they shall deem fit and necessary for the protection of the TRUSTOR/s. The
TRUSTOR/s acknowledge(s) that BPI-AMTG as MANAGER and HSBC as Trustee shall at all times comply with the
relevant BSP Rules and Regulations, save to the extent waived by BSP, as if the same were set out in the
PLAN(s)/TRUST DEED and insofar as the BSP rules and regulations respectively relate to them.
A list of prospective and/or outstanding investments requiring disclosure shall be made available and shall be updated
quarterly.
2. FUND VALUATION - The investments in the FUND shall be valued using the valuation method respectively defined in
the PLAN(s)/TRUST DEED, which shall be in accordance with the applicable Rules and Regulations of the BSP. A
performance review of the FUND shall be prepared on a quarterly basis.
3. CLIENT SUITABILITY – Prior to the acceptance of participation, the TRUSTOR/s shall undergo client suitability,
through a Client Suitability Assessment form, which shall be acknowledged and signed by the TRUSTOR/s. For
investments in UITF, the TRUSTOR/s have read and understood the general features of the UITFs with risk classification
corresponding to his/their risk profile, and have made an informed decision to invest or consider future investments in
these UITFs.
4. DISCLOSURE OF RISK - Prior to the acceptance of participation, the TRUSTOR/s shall have read and acknowledged
the Risk Disclosure Statement to signify that he/she is aware of the different risks involved when investing in the UITFs.
5. JOINT TRUSTOR ACCOUNTS – Designation of a joint account as an “AND” account shall be made by all the holders
of the said joint account who shall be co-TRUSTORS. The operation of and redemption of the FUND in such joint
account must be signed or authorized by all the co-TRUSTORS. In case of “OR” accounts, any one of the co-
TRUSTORS is authorized to operate the FUND and to effect any redemption there from.
6. MANNER OF PARTICIPATION – Every transaction of a TRUSTOR/s shall be made through the purchase of units
arrived at by dividing the transaction amount by the applicable Net Asset Value per unit (the “NAVpu”). New contributions
to the FUND shall serve to increase the FUND’s total outstanding units. Conversely, any redemption out of the FUND
serves to decrease the FUND’s total outstanding units. TRUSTOR/s shall have only an undivided interest in the FUND in
proportion to their unit holdings. The TRUSTEE/MANAGER has the sole discretion to accept participation and expressly
reserves its right to reject or refuse any participation, investment or contribution in the FUND by any person or entity for
any reason whatsoever.
7. MANNER OF ADMISSION/CONTRIBUTION – Participation in the FUND shall be allowed on the basis of the net asset
value of each participation unit and shall not be less than the Minimum Participation Amount as indicated in the
PLAN(s)/TRUST DEED. The TRUSTOR’s investment in the FUND shall be expressed in terms of number of units of
participation as appearing in the TRUSTOR’s Confirmation of Participation / Transaction Advice. Every TRUSTOR shall
designate a BPI / BPI Family deposit account (Current or Savings Account of the same currency as the FUND (the
“Settlement Account”) from which the amount of the contribution to be made shall be debited and the proceeds of
redemption shall be credited. The Settlement Account name shall be the same as the account name of the investment
account. Settlement of contributions shall be in accordance with what is indicated in the PLAN(s)/TRUST DEED of the
FUND.
For the effective and efficient management of the FUND, the TRUSTEE/MANAGER has set the minimum amount for
initial and additional contributions into the FUND as stated in the PLAN(s)/TRUST DEED. Subsequent contributions of the
TRUSTOR/s in the FUND is subject to a Minimum Additional Participation Amount as indicated in the PLAN(s)/TRUST
DEED and shall result to the TRUSTOR/s’ additional proportionate interest in the FUND. Changes thereof shall be
subject to regulations of the BSP (BSP Regulations).
8. MANNER OF REDEMPTION – Redemption from the FUND shall be computed on the basis of the applicable NAVpu
on the day the redemption is effected. Redemptions from the FUND shall result in the reduction of the TRUSTOR/s’
proportionate interest in the FUND. Such reductions shall be expressed in units based on the NAVpu. For the effective
management of the FUND, the minimum amount for partial redemptions, the minimum holding period, and the required
minimum maintaining balance in the FUND are stated in the PLAN(s)/TRUST DEED. Should a redemption result to the
investment in the FUND/s falling below the required minimum maintaining balance, the TRUSTEE shall automatically
close the account without need of prior notification to the TRUSTOR/s, in which case, the entire balance of the FUND/s
shall be paid through credit to the TRUSTOR/s’ Settlement Account based on the applicable NAVpu for the day multiplied

Revised_060116
by the number of remaining unit holdings. Settlement of redemptions shall be in accordance with what is stated in the
PLAN(s)/TRUST DEED of the FUND. Changes thereof shall be subject to BSP Regulations.
The TRUSTEE/MANAGER reserves the right to require from the TRUSTOR/s an advanced written notice of redemption
from the FUND within the number of days specified in the PLAN(s)/TRUST DEED. This required notice may be
shortened or extended at the sole discretion of the TRUSTEE/MANAGER depending upon the investment and liquidity
position of the FUND and the frequency and volume of requests for redemptions received by the TRUSTEE/MANAGER
at any given time. Such notice may be made by the TRUSTEE/MANAGER by way of direct written notice to each
TRUSTOR/s or through the posting of notices in the premises of the Head Office, BPI EOL, website, other channels and
branches of the TRUSTEE/MANAGER not shorter than three (3) banking days before any changes are implemented.
9. EVIDENCE OF PARTICIPATION – Contributions of the TRUSTOR/s into the FUND shall be evidenced by a separate
Transaction Advice issued by the TRUSTEE/MANAGER for this purpose. The TRUSTEE/MANAGER reserves the right
to require the prior endorsement/surrender of any evidence of participation issued by the TRUSTEE/MANAGER upon full
or partial redemption of units. Notwithstanding requirement for endorsement / surrender, mere possession of the evidence
of participation shall not be presumed or deemed as proof of non-payment of the redemption. For any dispute regarding
non-payment, the TRUSTOR/s should submit evidence that the Settlement Account was not credited.
10. COMMUNICATIONS AND NOTICES – All communications whether by mail, telegraph, telephone, facsimile, e-mail,
messenger or otherwise, sent to the TRUSTOR/s’ address appearing in the records of the TRUSTEE/MANAGER, shall
constitute personal delivery to the TRUSTOR/s. All communications shall be directed to said last known address
appearing in the TRUSTEE’s/MANAGER’s records unless a written notice of change of address is received by the
TRUSTEE/MANAGER five (5) banking days prior to the delivery of any communication or notice to the TRUSTOR/s by
the TRUSTEE/MANAGER. It is further agreed that all communications sent to the TRUSTOR/s’ indicated address, email
or fax number shall be conclusive as to their correctness in the absence of any written objection received by the
TRUSTEE/MANAGER within twenty-four (24) hours from delivery thereof.
11. CUT-OFF TIME PER TRANSACTION – For the effective and efficient management of the FUND, the
TRUSTEE/MANAGER shall set, and shall retain the option to change from time to time such rules as the cut-off times
and value dates for each type of transaction. Changes thereof shall be subject to BSP Regulations.
12. INVESTMENTS OF THE FUND – The FUND shall be invested and reinvested without distinction as to principal or
income in investments provided for under the PLAN(s)/TRUST DEED. The PLAN(s)/TRUST DEED contain(s) the
investment guidelines of the FUND.
13. DISTRIBUTION OF FUND EARNINGS – The total income of the FUND shall be allocated to the respective
TRUSTOR/s in proportion to their respective unit holdings for each FUND, the unrealized income of each of the
TRUSTOR/s is the difference between the prevailing NAVpu over the average acquisition cost of the TRUSTOR/s’ units,
multiplied by the number of units held by the TRUSTOR/s. Actual distribution or realization of income occurs when
redemption of units is made to the extent of the number of units redeemed.
14. REPORTS - A Statement of Account (SOA) shall be submitted to the TRUSTOR/s at least once every quarter. The
report shall consist, among others, of the TRUSTOR/s’ summary of investments showing the number of units of
participation in each FUND, the total cost and market value thereof, the unrealized income/ (loss), and a transactions
activity report showing contributions and redemptions made during the period covered.
15. INSTRUCTIONS – All instructions, whether original written instructions, oral or otherwise through telephone or
facsimile or e-mail, given or purported to be given by the persons authorized to operate the account as designated in the
Account Opening Form (or otherwise in writing), are binding on the TRUSTOR/s. The TRUSTEE/MANAGER shall be
authorized to rely and execute any such instructions from the TRUSTOR/s to purchase or redeem units based on the
TRUSTEE’s/MANAGER’s internal control, procedures and policies, which it in good faith believes to be legitimate, and
shall not in any way be liable for any loss which the TRUSTOR/s may incur as a result of the TRUSTEE’s/MANAGER’s
reliance and action on any such instruction. The TRUSTOR/s hereby expressly confirm(s) that the TRUSTEE/MANAGER
may use or otherwise install voice recording procedures in communicating with or when taking instructions, such as to
purchase or redeem units, from the TRUSTOR/s. The TRUSTOR/s hereby waive(s) any right under Republic Act No.
4200, otherwise known as The Anti-Wire Tapping Act and other similar laws or regulations. Any such voice record will
constitute conclusive evidence of the instructions or communications so recorded. The TRUSTOR/s release(s) the
TRUSTEE/MANAGER from any liability or responsibility for any loss or damage, which may result from the TRUSTOR/s
telephone or faxed or e-mailed instructions. The right of the TRUSTOR/s to give telephone or fax or e-mail instructions is
a privilege. The TRUSTOR/s will use this privilege judiciously and with discretion, and will take necessary steps to
protect such privilege and ensure that it is not misused, abused or used to perpetuate a fraud.
16. TAXES, EXPENSES, FEES - The TRUSTEE/MANAGER is authorized to incur and deduct from the FUND taxes
relative to the acquisition and disposition of investments and special expenses it incurs in the administration and
management of the FUND, which special expenses are necessary to preserve or enhance the value of the FUND,
provided such special expenses shall be payable to a third party, covered by a separate contract, and disclosed to
TRUSTOR/s.
In consideration of services rendered herein, the TRUSTEE/MANAGER shall also collect on every valuation date a
trust/management fee based on the TRUSTOR/s’ proportionate share of the NAV of the FUND, net of taxes based on a
schedule separately prepared by the TRUSTEE/MANAGER which in no case shall exceed the specific limit provided
under the FUND’s respective PLAN(s)/TRUST DEED. Trust/management fees of the specific FUND are disclosed in the
Key Information & Investment Disclosure Statement (KIIDS).
The TRUSTEE/MANAGER recommends that the TRUSTOR/s obtain(s) independent advice on tax issues associated
with investments of the FUND.
For ABF PBIF, apart from TRUSTEE’s/MANAGER’s management fee, trustee fees shall likewise be collected by HSBC
as Trustee.
17. LIABILITY OF TRUSTEE/ MANAGER - Nothing in this Agreement shall be construed as a guaranty of return or
income; nor does it entitle the TRUSTOR/s to a fixed rate of return on the money invested for him/ her in the FUND/s by
the TRUSTEE/ MANAGER.
It is understood that the Unit Investment Trust Funds are not deposit products and thus, are not covered by the
Philippine Deposit Insurance Corporation (PDIC) and that losses, if any, shall be for the account of the
TRUSTOR/s.

Revised_060116
The TRUSTEE/MANAGER shall administer and manage the FUND with the skill, care and prudence required of it by law
and the regulations. The TRUSTEE/MANAGER shall not be liable for any loss, damage or diminution of the FUND, or in
the value of TRUSTOR/s’ units, arising from any act done by TRUSTEE/MANAGER pursuant to the terms hereof, except
when it is occasioned by the TRUSTEE’s/MANAGER’S gross and willful negligence or evident bad faith. The
TRUSTEE/MANAGER, including its authorized representatives, shall be held free and harmless from any liability for any
of its actions and omissions made in good faith, for which the TRUSTEE/MANAGER believed to be authorized or falling
within its discretion, rights, or power conferred under the PLAN(s)/TRUST DEED, this Agreement, specific written
authority from TRUSTOR/s, and the applicable laws and regulations.
18. AMENDMENTS - This Agreement shall be deemed automatically modified as and when the PLAN(s)/TRUST DEED
is amended by the TRUSTEE in order to comply with applicable laws and/or Bangko Sentral ng Pilipinas regulations and
for such other purposes as may be deemed proper by the TRUSTEE/MANAGER.
For ABF PBIF, the TRUSTEE/MANAGER and Trustee of the FUND may jointly amend the PLAN(s)/TRUST DEED in
order to comply with applicable laws and/or Bangko Sentral ng Pilipinas regulations and for such other purposes as may
be deemed proper by both the TRUSTEE/MANAGER and Trustee of the FUND.
The TRUSTOR/s in the FUND shall be immediately notified through electronic mail or such other mode of communication
deemed appropriate by the TRUSTEE/MANAGER and shall be allowed to withdraw their participation if they are not in
conformity with the amendments made.
19. TERMINATION OF THE FUND - Although the FUND is envisioned to be a going concern, it may be terminated if the
said termination will redound to the best interest of the TRUSTOR/s in light of market and other conditions, provided that
the same be made known to the TRUSTOR/s in accordance with the PLAN(s)/TRUST DEED.
20. TERMINATION/ SUSPENSION/ USE OF INVESTMENT ACCOUNT - The TRUSTEE/MANAGER reserves the right
to terminate the Investment Account of the TRUSTOR/s or suspend the TRUSTOR's current or future use of the same in
whole or in part, such as not crediting the settlement account of any redemption proceeds if, among others, the
TRUSTOR/s violate(s) the Agreement, pose a security threat, or the TRUSTOR/s provide any information that is untrue,
inaccurate, not current or incomplete, or the TRUSTOR/s fails to submit any updated document required by the
TRUSTEE, or when the Investment Account, in the opinion of the TRUSTEE/MANAGER, is being used or suspected to
be used for fraudulent, criminal or unlawful activities or for any cause whatsoever, at any time without prior notice and the
losses attributable to the termination of the Investment Account, if any, shall be for the account of the TRUSTOR/s.
21. TERM OF AGREEMENT - This Agreement shall continue and remain in force until termination of the FUND in
accordance with the PLAN(s)/TRUST DEED or with applicable laws or regulations then existing.
22. REFERENCE DOCUMENTS – Incorporated herein by reference are the terms, conditions, rules and regulations in
the PLAN(s)/TRUST DEED, Client Suitability Assessment form, Risk Disclosure Statement, and the Confirmation of
Participation / Transaction Advice to be issued pursuant hereto. In executing this Agreement, TRUSTOR/s represent(s)
that he/she/it has carefully read and fully understood the same documents and that he/she/it has agreed to be bound by
all the terms and conditions thereof. In case of inconsistencies, the provisions of the PLAN(s)/TRUST DEED shall prevail
over those of this Agreement and the rest of the reference documents.
23. CLIENT UNDERTAKING – The TRUSTOR/s agree to abide by all internal policies and procedures of the
TRUSTEE/MANAGER as the same may be amended, modified and supplemented from time to time.
24. COOLING-OFF PERIOD - Pursuant to BSP Circular Nos. 857 (Series of 2014) and 898 (Series of 2016), the
TRUSTOR/s is/are entitled to a cooling-off period of two (2) banking days (the "Cooling-Off Period") from the date of
participation of the TRUSTOR/s in the applicable FUND, without penalty. Should the TRUSTOR/s decide(s) to avail of
the Cooling-Off Period, the TRUSTOR/s shall give the TRUSTEE/MANAGER a written notice to cancel within such
period. As a result of the cancellation, the TRUSTOR/s understand(s) that such cancellation may result in a gain or loss
depending on the prevailing NAVpu. Any reasonable amount of processing, administrative fees and costs incurred,
including any mark to market costs shall be for the Trustor's own account.
25. CLIENT COMPLAINTS – BPI Asset Management as TRUSTEE/MANAGER is regulated by the Bangko Sentral ng
Pilipinas (BSP). For any inquiries and complaints relating to our products and services, you may call our hotline: 89-100,
or send an email at [email protected] or write a letter addressed to BPI Asset Management -
Consumer Protection Unit, 17F, BPI Building, Ayala Ave. cor. Paseo De Roxas, Makati City, 1226. You may also file your
complaints at BSP Financial Consumer Department at (632) 708-7087 or [email protected]. To know your
rights under BSP Circular No. 857 (Regulations on Financial Consumer Protection), please access a copy at our website:
www.bpiassetmanagement.com.

THIS CONTRACT IS BETWEEN THE CLIENT/S HEREIN NAMED AND BPI ASSET
MANAGEMENT AND TRUST GROUP (BPI-AMTG). ALL TRANSACTIONS ARISING
OUT OF OR RELATED TO THIS CONTRACT SHALL BE BINDING ONLY BETWEEN
THESE TWO (2) CONTRACTING PARTIES. IT IS UNDERSTOOD THAT THIS
TRANSACTION IS NEITHER INSURED BY THE PHILIPPINE DEPOSIT INSURANCE
CORPORATION (PDIC) NOR GUARANTEED BY BANK OF THE PHILIPPINE ISLANDS
(BPI)/ BPI FAMILY SAVINGS BANK (BFB).

Revised_060116
 RISK DISCLOSURE STATEMENT Section 4 of 4

Prior to making an investment, BPI Asset Management is hereby informing you of the nature of the Investment Funds /Trust /Other
Fiduciary /Investment Management Accounts and the risks involved in investing therein. As investments generally carry different degrees
of risk, it is necessary that before you make any investment, you should have:
1. fully understood the nature of the investment in any of the Investment Funds /Trust /Other Fiduciary /Investment Management
Accounts and the extent of your exposure to risks
2. read this Risk Disclosure Statement completely; and
3. independently determined that the investment in any of the Investment Funds/Trust /Other Fiduciary /Investment Management
Accounts is appropriate for you

Enumerated and defined below are the various risks you are normally exposed in investing depending on the type of underlying assets of
the portfolio. Investment Funds/Trust /Other Fiduciary /Investment Management Accounts do not provide guaranteed returns and are not
covered by the Philippine Deposit Insurance Corporation (PDIC).

Specifically for Investment Funds, there are risks involved in investing because the value of your investment is based on the Net Asset
Value per Unit (NAVPU) of the Fund which uses a marked-to-market valuation and therefore may fluctuate daily. The NAVPU is
computed by dividing the Net Asset Value (NAV) of the Fund by the number of outstanding units. The NAV is derived from the
summation of the market value of the underlying securities of the Fund plus accrued interest income less liabilities and qualified
expenses.

INVESTMENT IN THE INVESTMENT FUNDS DOES NOT PROVIDE GUARANTEED RETURNS EVEN IF INVESTED IN
GOVERNMENT SECURITIES AND HIGH-GRADE PRIME INVESTMENT OUTLETS. YOUR PRINCIPAL AND EARNINGS FROM
INVESTMENT IN THE FUND CAN BE LOST IN WHOLE OR IN PART WHEN THE NAVPU AT THE TIME OF REDEMPTION IS
LOWER THAN THE NAVPU AT THE TIME OF PARTICIPATION. GAINS FROM INVESTMENT IS REALIZED WHEN THE NAVPU AT
THE TIME OF REDEMPTION IS HIGHER THAN THE NAVPU AT THE TIME OF PARTICIPATION.

Your investment in any of the BPI Asset Management Investment Funds /Trust /Other Fiduciary /Investment Management
Accounts exposes you to the various types of risks enumerated and defined hereunder:

Interest Rate Risk

This is the possibility for an investor to experience losses due to changes in interest rates. The purchase and sale of a debt instrument
may result in profit or loss because the value of a debt instrument changes inversely with prevailing interest rates.

The Fund’s portfolio, being marked-to-market, is affected by changes in interest rates thereby affecting the value of fixed income
investments such as bonds. Interest rate changes may affect the prices of fixed income securities inversely i.e. as interest rates rise,
bond prices fall and when interest rates decline, bond prices rise. As the prices of bonds in a portfolio adjust to a rise in interest rate, the
portfolio’s market value may decline.

Market/Price Risk
This is the possibility for an investor to experience losses due to changes in market prices of securities. It is the exposure to the uncertain
market value of a portfolio due to price fluctuations.

It is the risk of the Fund/Portfolio to lose value due to a decline in securities prices, which may sometimes happen rapidly or
unpredictably. The value of investments fluctuates over a given time period because of general market conditions, economic changes, or
other events that impact large portions of the market such as political events, natural calamities, etc. As a result, for Investment Funds,
the Net Asset Value per Unit (NAVPU) may increase to make profit or decrease to incur loss.

Liquidity Risk
This is the possibility for an investor to experience losses due to the inability to sell or convert assets into cash immediately or in instances
where conversion to cash is possible but at a loss. These may be caused by different reasons such as trading in securities with small or
few outstanding issues, absence of buyers, limited buy/sell activity or underdeveloped capital market.

Liquidity risk occurs when certain securities in the Fund/Portfolio may be difficult or impossible to sell at a particular time which may
prevent the withdrawal/ redemption of investments until its assets can be converted to cash. Even government securities which are the
most liquid of fixed income securities may be subjected to liquidity risk particularly if a sizeable volume is involved.

Credit Risk/Default Risk

This is the possibility for an investor to experience losses due to a borrower’s failure to pay principal and/or interest in a timely manner on
instruments such as bonds, loans, or other forms of security which the borrower issued. This inability of the borrower to make good on its
financial obligations may have resulted from adverse changes in its financial condition, thus, lowering credit quality of the security, and
consequently lowering the price (market/price risk) which contributes to the difficulty in selling such security. It also includes risk of a
counterparty (a party the Fund Manager trades with) defaulting on a contract to deliver its obligation either in cash or securities.

This is the risk of losing value in the Fund/Portfolio in the event the borrower defaults on his obligation or in the case of counterparty,
when it fails to deliver on the agreed trade. This decline in the value of the Fund/Portfolio happens because the default /failure would
make the price of the security go down and may make the security difficult to sell. As these happen, for Investment Funds, the Fund’s
NAVPU will be affected by a decline in value.

Reinvestment Risk
This is the risk associated with the possibility of having lower returns or earnings when maturing funds or the interest earnings of funds
are reinvested.

Investors who withdraw/ redeem and realize their gains run the risk of reinvesting their funds in an alternative investment outlet with lower
yields. Similarly, BPI is faced with the risk of not being able to find good or better alternative investment outlets as some of the securities
in the Fund/Portfolio matures.

In case of a foreign-currency denominated Investment Fund or portfolio or a peso-denominated Investment Fund or portfolio allowed to
invest in securities denominated in currencies other than its base currency, the Fund/Portfolio is also exposed to the following risks:

Foreign Exchange Risk

This is the possibility for an investor to experience losses due to fluctuations in foreign exchange rates. The exchange rates depend upon
a variety of global and local factors, e.g. interest rates, economic performance, and political developments.

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It is the risk of the Fund/Portfolio to currency fluctuations when the value of investments in securities denominated in currencies other
than the base currency of the Fund/Portfolio depreciates. Conversely, it is the risk of the Fund/Portfolio to lose value when the base
currency of the Fund/Portfolio appreciates. For Investment Funds, the net asset value per unit (NAVPU) of a Philippine Peso-
denominated Fund invested in foreign currency-denominated securities may decrease when the Philippine Peso appreciates. For
Investment Funds, the returns of a foreign currency denominated Fund invested in foreign currency-denominated securities may
decrease when translated in Philippine Peso terms when the Philippine Peso appreciates.

Country Risk
This is the possibility for an investor to experience losses arising from investments in securities issued by/in foreign countries due to the
political, economic and social structures of such countries. There are risks in foreign investments due to the possible internal and
external conflicts, currency devaluations, foreign ownership limitations and tax increases of the foreign country involved which are difficult
to predict but must be taken into account in making such investments.

Likewise, brokerage commissions and other fees may be higher in foreign securities. Government supervision and regulation of foreign
stock exchanges, currency markets, trading systems and brokers may be less than those in the Philippines. The procedures and rules
governing foreign transactions and custody of securities may also involve delays in payment, delivery or recovery of investments.

For complex investment products, said instruments can be subject to sudden and sharp falls in market value such that you may lose your
entire investment and extra funding may be required, as necessary.

Index-Tracking Risk
Specifically for index-tracker investments, this is the risk of the portfolio not matching or not achieving a high degree of correlation with the
return of an index because of operating and other fund-management related expenses.

Other Risks
Your Fund/Portfolio may be further exposed to the risk of any actual or potential conflicts of interest in the handling of in-house or related
party transactions by BPI. These transactions may include own-bank deposits; purchase of own-institution or affiliate obligations;
purchase of assets from or sales to own institution, directors, officers, subsidiaries, affiliates or other related interests/parties; or
purchases or sales between fiduciary/managed accounts.

I HAVE COMPLETELY READ AND FULLY UNDERSTOOD THIS RISK DISCLOSURE STATEMENT AND THE SAME WAS CLEARLY
EXPLAINED TO ME BY A BPI MARKETING PERSONNEL BEFORE I AFFIXED MY SIGNATURES HEREIN. I HEREBY VOLUNTARILY
AND WILLINGLY AGREE TO COMPLY WITH ANY AND ALL LAWS, REGULATIONS, THE PLAN RULES /PROSPECTUS, WRITTEN
TRUST /OTHER FIDUCIARY /INVESTMENT MANAGEMENT AGREEMENT, TERMS AND CONDITIONS GOVERNING MY
INVESTMENT.

_______________________________________ _________________________
Client’s Signature over Printed Name Date signed

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