INVESTMENT DEPOSIT 402 Arenevad turud EUR TERMS AND CONDITIONS OF OFFER

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1 OFFER Name of the offer Data of the provider Investment Deposit 402 Arenevad turud EUR AS SEB Pank Tornimäe Tallinn Republic of Estonia Phone Sales period Minimum deposit amount Risk premium Other conditions for the deposit amount Minimum volume of the offer 2 Deposit period EUR 100 (one hundred euros) Not applicable Start date of deposit End date of deposit Capital protection Approving the offer TERMS AND CONDITIONS OF INTEREST Interest The deposit amount must be a multiple of 1 euro. The deposit amount will be reserved on the depositor s current account immediately after opening an investment deposit. EUR 1,000,000 (one million euros) 3 (three) years and 3 (three) days The bank shall be obliged to return 100% of the deposit amount on the end date of deposit. AS SEB Pank (hereinafter the bank) shall decide whether to approve or cancel the offer by the start date of the investment deposit at the latest. Information about approving or cancelling the offer shall be forwarded by the bank to the depositors via the Internet Bank and/or webpage ( The bank shall have the right to cancel the offer, if the minimum volume of the offer has not been achieved by the end of the sales period; or such extraordinary events or circumstances that in the professional opinion of the bank make the established terms and conditions of offer seriously unreasonable in the relevant market have occurred or become known during the sales period. If the offer is cancelled, the bank shall terminate the investment deposit agreement and immediately release the amounts reserved in the depositor s current account. No additional fees shall be born by the depositor upon the cancellation of the offer. Interest payment on investment deposits is not guaranteed. The level on interest is dependent upon performance of underlying asset and participation rate and that could mean no interest in certain conditions. The bank shall calculate and pay the interest on the basis of these terms and conditions of interest. The bank shall calculate the interest paid to the deposited amount throughout the deposit period according to the following equation: interest = deposited amount participation rate [(final value initial value) initial value] (EURUSD Strike Price / EURUSD Settlement Price). If the result received according to the above equation is negative, the interest payable to the depositor is deemed zero. The bank shall transfer the deposited amount and its possible interest to the depositor s current account on the end date of deposit. Underlying asset Portfolio of Emerging Markets indices Under these terms and conditions of offer, sales period shall mean a period intended for entering into investment deposit contracts in relation to this offer. Under these terms and conditions of offer, the minimum volume of the offer shall mean the total amount that must be deposited by depositors in relation to this offer. It the minimum amount is not achieved, the bank shall have the right to cancel the offer. Additional information could be found on: and

2 Description of underlying asset Weighted portfolio of 30% CEE, 10% Mexican, 30% Singapore and 30% Taiwan stock indices (the Indices). CECE Composite Index (CECEEUR) is a free float weighted price index made up of the most liquid stocks traded on Budapest, Prague and Warsaw Stock Exchange. As of the 20 October 2014, there were 31 stocks in the index. Top five weighted shares were: PKO BP (PKO.WA) (weight 15.46%) Polish commercial bank. PZU (PZU.WA) (13.19%) Polish insurance company. BANK PEKAO (PEO.WA) (10.63%) Polish commercial bank. PGE (PGE.WA) (9.08%) Polish power company. KGHM (KGH.WA) (8.00%) Polish mining and metals company. The country breakdown of the index was following: Poland 81.71%, Czech Republic 12.95% and Hungary 5.35%. The MSCI Singapore Free Index (SIMSCI) is a free-float adjusted market capitalization weighted index that is designed to track the equity market performance of securities listed on Singapore Stock Exchange. The index contains 29 stocks and uses "foreign" prices instead of local prices when available. As of the 20 October the top five weighted shares in the index were: DBS Group Holdings (12.93%) Financials Singapore Telecom (weight 12.29%) Telecommunications United Overseas Bank (11.65%) Financials OCBC Bank (11.64%) Financials Keppel Corp (5.85%) Industrials The biggest sectors were Financials (54.15%), Industrials (20.91%) and Telecommunication Services (13.30%). The MSCI Taiwan Index (TAMSCI) is a free-float adjusted market capitalization weighted index that is designed to track the equity market performance of securities listed on Taiwan Stock Exchange and GreTai Securities Market. As of the 20 October the index contained 101 stocks and the top five weighted shares were: Taiwan Semiconductor Manufacturing Co Ltd (weight 21.96%) Technology Hon Hai Precision Industry Co Ltd (8.24%) Technology MediaTek Inc (4.18%) Technology Cathay Financial Holding Co Ltd (2.69%) Financials Chunghwa Telecom Co Ltd (2.45%) Telecommunications The biggest sectors were Information Technology (57.60%), Financials (17.96%) and Materials (9.64%). ishares MSCI Mexico Capped ETF (EWW) is US registered exchange traded fund that seeks to track the investment results of a broad-based index composed of Mexican equities. As of 20 October 2014, the ETF had 59 investments. Top 5 holdings were: America Movil (weight 17.71%) Fomento Economico Mexicano (7.29%) Grupo Televisia (7.15%) Grupo Finance Banorte (6.26%) CEMEX CPO (5.82%) The biggest in sector weightings were Consumer Staples (21.00%), Financials (20.96%) and Telecommunication Services (17.91%). Total net assets were USD2.89b. The composition and weighting of the ETF may change during the deposit period. The Fund Investment Advisor is BlackRock Fund Advisors.

3 Participation rate The Fund inception date was 12 March Participation in the change of underlying asset value: 10 15% (from ten to fifteen percent). The exact value of the participation rate is established by the bank upon confirming the offer. Initial value The initial value of the underlying asset is set at 100. Final value EURUSD Strike Price 4 EURUSD Settlement Price 4 Correctional events of interest terms and conditions The initial value (AV) of the Indices shall be determined by the bank on according to the closing price. If the valuation date falls on a day off, the value shall be established on the next working day after the day off. The initial value of the underlying asset shall be published on the bank s website five working days after valuation date. The final value () of the Indices is determined by the bank as the arithmetic average of the values fixed according to the closing prices on the 22nd day of each month in the period (altogether thirteen times). The final value of the underlying asset is calculated according to the following equation: CECEEUR SIMSCI TAMSCI EWW final value= CECEEUR AV SIMSCI AV TAMSCI AV EWW If the valuation date falls on a day off, the value shall be established on the next working day after the day off. The final value of the underlying asset shall be published on the bank s website five working days after the last valuation date. The strike price of EURUSD is the EURUSD exchange rate, quoted by the European Central Bank as at The exchange rate of EURUSD is presented in the form n US dollars per 1 euro. The settlement price of EURUSD is the EURUSD exchange rate, quoted by the European Central Bank as at The exchange rate of EURUSD is presented in the form n US dollars per 1 euro. If an event or circumstance occurs that is deemed as a correctional event according to an applicable legal act, a rule established by a competent authority or a respective accepted principle or practice 5, the bank shall have the right to adjust the interest terms and conditions of the investment deposit without prior consent from the depositor, in order to re-establish the initial content of the interest terms and conditions that applied so far in the greatest possible extent. Upon adjusting the interest terms and conditions, the bank shall follow the principles established by the competent authority and accepted principles and good practice upon adjusting transaction conditions under similar circumstances 6. If in the professional opinion of the bank it is not possible to re-establish the initial content of the interest terms and conditions that applied so far or replace any components used for calculating the interest, the bank shall have the right to pay the interest according to the terms and conditions established at its own discretion or not pay the interest. DESCRIPTION OF RISKS more thorough description of risks can be found on the website Credit risk Credit risk is a possibility that upon the impairment of the bank s solvency, the depositor loses the whole or a part of the deposited amount or possible interests. In the latter event, the depositor's rights are protected pursuant to the Guarantee Fund Act. AV The exchange rates quoted by the European Central Bank are available on the webpage at: A correction event is an event or circumstance that is independent of the parties and whose occurrence changes the content of the interest terms and conditions of the investment deposit considerably. Examples of correction events concerning interest terms and conditions are, for example, split of the equities that are the underlying asset of the investment deposit, fund issue, squeeze-out, merger of the company that is the issuer with another company or the bankruptcy of such a company and also suspension or discontinuation of calculation of the index used to determine the value of the underlying asset of the deposit or termination of the distribution of the underlying asset and other similar events. The bank shall proceed primarily from the cases stipulated in 2002 ISDA Equity Derivatives Definitions when defining correction events. A correctional event is also deemed to be the change in the legal acts or rules of competent authorities or an interpretation of a legal act or a rule by a competent authority if it changes the calculation principles of the interest established with the terms and conditions of the offer or any of its components. The bank shall proceed primarily from the adjustment principles stipulated in 2002 ISDA Equity Derivatives Definitions when adjusting the interest terms and conditions.

4 FEES Market risk Liquidity risk Currency risk Depositor Bank Market risk is a possibility that the value of the underlying asset does not increase as much as expected or decreases in the deposit period due to which the possible interest paid on the investment deposit is smaller or non-existent. Market risk also influences the amount of possible interest payable to the depositor upon cancelling the investment deposit agreement before maturity. As the bank s position on the underlying asset is assumed with consideration to keep the underlying asset until maturity, the price of the underlying asset that has increased up to the moment of cancelling the deposit may not be directly reflected in the amount of the interest payable to the depositor. Liquidity risk is a possibility that if a depositor cancels the investment contract before the expiry date and the underlying asset of the respective deposit is illiquid or the secondary market is not available in the amount of the terminated deposit, the depositor may lose all or a part of the possible interest earned until the cancellation. The risk that the possible interest will be lower due the rise in the EURUSD exchange rate (weaker US dollar against euro). No additional fees shall be born by the depositor with the deposit, except the exit fee in the event of premature cancellation. The bank may make payments to third parties in relation to the investment deposit (e.g. licence fees) and receive payments from third parties (e.g. sales fees). TAXATION DEPENDING ON THE ACCOUNT TIED TO THE DEPOSIT 7 A deposit tied to the investment account A deposit tied to the current account The bank does not withhold the income tax from the interest to be paid out. The depositor is obliged to pay income tax. The taxation obligation can be postponed. The depositor can deduct the expenses incurred from the taxable amount or offset the expenses against the loss. The bank shall calculate and withhold income tax from the interest paid out to the depositor s current account at the rate established by law. All the interest to be paid out is subject to taxation, irrespective of the depositor s possible expenses (e.g. exit fee). TERMS AND CONDITIONS OF CANCELLATION OF THE AGREEMENT During the sales period During the deposit period Exit fee If the depositor cancels the investment deposit agreement during the sales period, the depositor does not have to pay any additional fees. The bank shall immediately release the deposit amount reserved in the depositor s current account on the basis of an application. If the depositor cancels the investment deposit agreement during the deposit period, they will have to pay the exit fee. Upon cancelling the agreement, the depositor loses the right for the possible interest paid out on the expiry date of the deposit. The possible interest amount earned by the time of the cancellation of the investment deposit agreement shall be determined by the bank by taking into account the movement of the underlying asset and the time remaining until maturity of the deposit. As the bank s position on the underlying asset is assumed with consideration to keep the underlying asset until maturity, the price of the underlying asset that has increased up to the moment of cancelling the deposit may not be directly reflected in the amount of the interest payable to the depositor. The deposit amount with the possible interest shall be returned to the depositor s current account within eight banking days. On the same day (i.e. the return date) the exit fee shall be debited from the depositor s current account. The exit fee may be larger than the possible interest earned by the moment of cancellation and as a result of this the depositor shall bear a loss. The exit fee shall be up to 3% (three percent) of the deposit amount. The exact amount of the exit fee shall be established by the bank. The exit fee shall be calculated as of the return date of the deposit amount according to the following formula: exit fee = deposit amount - (deposit amount (1 + financing rate days to maturity 36000)), where financing rate is money market interest rate that corresponds to the deposit period on the start date of deposit plus the bank s risk margin, i.e. the cost of the liquidity for the bank on financial markets corresponding to the deposit period as established by 7 The regulation of taxation may change in the future. Taxation depends on the individual circumstances of every depositor, including their residency and type of legal entity.

5 IMPORTANT INFORMATION the bank; days to maturity is the number of days between the termination of the deposit and the end date of deposit. The exit fee is the larger the longer is the time remaining until the expiry date of the investment deposit upon premature cancellation of the investment deposit agreement. The MSCI indexes are the exclusive property of MSCI Inc. ( MSCI ). MSCI and the MSCI index names are service mark(s) of MSCI or its affiliates and have been licensed for use for certain purposes by SEB. The investment deposit referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such investment deposits. No purchaser, seller or holder of this investment deposit, or any other person or entity, should use or refer to any MSCI trade name, trademark or service mark to sponsor, endorse, market or promote this product without first contacting MSCI to determine whether MSCI s permission is required. Under no circumstances may any person or entity claim any affiliation with MSCI without the prior written permission of MSCI. CECE Composite Index (CECE) is calculated and published by Vienna Stock Exchange and therefore represents its intellectual property. The designation CECE is a registered trademark of Vienna Stock Exchange. The index description as well as its rules and composition are online available on Vienna Stock Exchange does not guarantee the accuracy and/or the completeness of the index or any data included therein and Vienna Stock Exchange shall have no liability for any errors, omissions, or interruptions therein. This investment deposit is not in any way sponsored, endorsed, sold or promoted by Vienna Stock Exchange. Vienna Stock Exchange makes no warranty or representation whatsoever, express or implied, to owners of the products, or any other person or entity from the use of the index or any data included therein. Without limiting any of the foregoing, in no event shall Vienna Stock Exchange have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages. Further information about the investment deposit is available on the website of the bank at If necessary, consult with an expert.