Valuation Report Mr & Mrs Corey Clarke. 04 December Argentum Wealth Limited is not authorised and regulated by the Financial Conduct Authority.

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1 Valuation Report Mr & Mrs Corey Clarke 04 December 2013 Argentum Wealth Limited is not authorised and regulated by the Financial Conduct Authority. This report has been prepared in confidence, based upon the value of your investments at the date shown above. This report may contain references to past performance; it should be noted that past performance is not a guide to future performance as investments can fall in value as well as rise. Any projections of future values, or income that could be generated by the investments, is also not guaranteed.

2 Mr C. and Mrs M. Clarke 71 Cunnery Rd Breibhig NR27 6HF Dear Corey and Madeleine, I am pleased to enclose your Argentum Weath Valuation Service Report. This report provides you with alorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. We strive to provide you with an effective and efficient on-going financial planning service and we are always available to give you further advice and guidance. If you have any questions regarding this report or indeed require further advice please do not hesitate to contact us on or by at demo@sprintenterprise.co.uk Kind regards Gary Shepherd Joint Managing Director demo@sprintenterprise.co.uk

3 Section 1 Our Services This describes how Argentum Wealth Management looks after your finances and the service we provide to you Section 2 Investment Summary An overview of your accounts invested using the Argentum Wealth Management Service Section 3 Risk Performance Shows your attitude to investment risk, the spread of assets for the portfolio you hold and the performance of the portfolio to date Section 4 Portfolio Analysis This provides you with an overview of the performance of your portfolio for the previous 12 months and since the accounts started Section 5 Valuation Gives you a detailed valuation of your accounts that are invested using the Argentum Weath Management Service Section 6 Market Overview An overview of our view of the investment markets Section 7 Disclaimers All of the required regulatory disclosures.

4 Our Services Financial Planning Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Our Wealth Management Service Nam liber tempor cum soluta nobis eleifend option congue nihil imperdiet doming id quod mazim placerat facer possim assum. Typi non habent claritatem insitam; est usus legentis in iis qui facit eorum claritatem. Investigationes demonstraverunt lectores legere me lius quod ii legunt saepius. Claritas est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum. Mirum est notare quam littera gothica, quam nunc putamus parum claram, anteposuerit litterarum formas humanitatis per seacula quarta decima et quinta decima. Eodem modo typi, qui nunc nobis videntur parum clari, fiant sollemnes in futurum. Your Argentum Wealth Management team Gary Shepherd Joint Managing Director Steve Anderson Joint Managing Director & Advisor Peter Frankell Mortgage Advisor Steve Booth Advisor Will Champsey Advisor Emma Patterson Advisor David Skinner Advisor Claire Greatam Head of Administration Hannah Viney Administration Supervisor Emma Blake Administrator Bradley Worthington Administrator & Researcher Carl Jacobson Administrator (Investments) Catherine Waterstone Administrator warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

5 Market Overview UK Equities Market Overview Despite the G20 being dominated by talks regarding military intervention in Syria, markets have largely shrugged off this continuing uncertainty, instead choosing to focus on further evidence of a global economic recovery. Manufacturing growth in the UK indicates that this will not merely be service-led, while the increasing strength of the US economy is represented by a flurry of merger and acquisition activity. Positive news from China showing increasing economic output will be of particular relief to those invested in emerging markets, which have recently taken a hammering. Emerging markets now seem to be taking action to prevent further damage to their economies: witness measures taken by India s central bank governor this week. Further action will need to be taken, however, if they wish to stabilise their currencies following a period of capital flight and join the more advanced nations in what has started to look like an albeit brief period of growth. UK: Three-year manufacturing high The UK recovery appears to be gathering pace. A survey by EEF and BDO covering 290 companies revealed a 32 per cent reported increase in output over the last quarter, which is the highest since Investment intentions were also at a six-year high, visibly so in the case of Nissan, which is due to spend 250m and create 1,000 jobs at its Sunderland plant. This came in tandem with the OECD s prediction that growth would accelerate during the second half of the year, having given the UK the largest upward revision of forecasted GDP growth among the G7. It is not surprising that with a balanced recovery now visible, the Bank of England decided to hold the base rate at 0.5 per cent and maintain QE at its current 375bn. However, the lack of reassurance over interest rates remaining low saw gilt yields edge higher, with 10-year notes edging to just below 3 per cent, a two-year high. Emerging markets: Chinese manufacturing up Official Chinese PMI data rose to 51 in August from July s 50.3, indicating that manufacturing output not only expanded but did so at a faster rate than before, reaching a 16-month high. This soothed concerns over the likelihood of a sharp slowdown for the Chinese economy. While we remain slightly cynical as to the credibility of Chinese national data, markets indeed took solace and the data provided an uplift to the region. India recorded its slowest economic expansion since 2009, coming in at 4.4 per cent annualised GDP growth for the second quarter, compared with the previous figure of 4.8 per cent. However, the new central bank governor Raghuram Rajan aims to tackle this by stimulating the economy via the financial system, and plans to make every effort to stop the rupee weakening further. Asian markets also reacted well to this. We remain hopeful for India and its potential to bolster the global economic recovery, especially given its huge population. US: Corporate activity up ahead of Fed meeting There has been a flurry of corporate merger and acquisition activity in the US. The deal for Vodafone to sell Verizon its 45 per cent stake in their joint venture Verizon Wireless, the largest US mobile operator, registers as the third-largest deal of this type in history. This deal, alongside Microsoft s $7.1bn acquisition of Nokia, acts as a good proxy for corporate optimism; the deployment of cash reserves or use of leverage shows the increasing appetite of businesses willing to move outside of their comfort zone. The premiums paid on target companies can also greatly benefit the performance of stakeholder investment funds. We do, however, remain prudent, as the upcoming Federal Reserve meeting and its outcome will most likely throw the global economy a curveball. What will happen when the Fed begins tapering QE? All we have for now are expectations and assumptions, until the meeting in just under two weeks time. warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

6 Investment Summary Client Summary Portfolio Objectives Address Address Adviser 71 Cunnery Rd Breibhig NR27 6HF Gary Shepherd Investment objective Client risk profiles: Clarke, Mrs Madeleine Clarke, Mr Corey Growth CAUTIOUS+ CAUTIOUS+ Product Mix Product Value General Investments a Stocks & Shares ISA 34,597 Pensions a Executive Pension 3,318 Personal Pension 48,066 TOTAL 85,980 Investment by Owner Mr Corey Clarke 51,383 Mrs Madeleine Clarke 34,597 Investment Summary Value on 26 November , Portfolio Income Estimation Estimated Annual Gross Income Estimated Annual Gross Yield 0.60% warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

7 Risk Performance Investment Objectives and Risk Classification CAUTIOUS+ Clients in this category are prepared to commit funds over the medium to longer period where investment timing is not critical. These investors are prepared to see capital values fluctuate on the understanding that risk is actively managed across a broad spectrum of asset classes. In return for this flexibility these investors are trying to consistently obtain a greater average return than available from typical deposit rate bank or building society accounts. Strategic Asset Allocation warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

8 a a Portfolio Analysis Other Assets Latest Value 26/11/2013 General Investments M - ISA (Stocks/Shares) - CLAR , Subtotal: 34, Pensions C - S&P Personal Pension Plan - CLAR , C - S&P Personal Pension Plan - CLAR , C - Zurich Executive Pension Plan - CLAR , Subtotal: 51, General Investments 34, Pensions 51, Total 85, The table above shows the wrappers for which no transaction history is available. As such, it is not possible to perform a performance analysis. warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

9 Valuation Save & Prosper Group S&P Personal Pension Plan - CLAR Current Valuation Performance data not available for this wrapper. Owned by Mr Corey Clarke Model Portfolio: Argentum Asset Allocation July 2013 Risk Profile: CAUTIOUS+ Units Held Latest Price Current Value Yield %* Yield * Save & Prosper Group S&P Personal Pension Plan - CLAR Save & Prosper Managed Pn 4, , Total 31, * Fund yield data provided by FE Analytics. Yield % shows the historic percentage of income generated by the underlying investments. This income is not guaranteed and may rise as well as fall. Yield shows the amount of income based on the historical percentage of income paid, multiplied by the current value. Save & Prosper Group S&P Personal Pension Plan - CLAR Current Valuation Performance data not available for this wrapper. Owned by Mr Corey Clarke Model Portfolio: Argentum Asset Allocation July 2013 Risk Profile: CAUTIOUS+ Units Held Latest Price Current Value Yield %* Yield * Save & Prosper Group S&P Personal Pension Plan - CLAR Save & Prosper Managed Pn 2, , Total 17, * Fund yield data provided by FE Analytics. Yield % shows the historic percentage of income generated by the underlying investments. This income is not guaranteed and may rise as well as fall. Yield shows the amount of income based on the historical percentage of income paid, multiplied by the current value. warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

10 Valuation Zurich Executive Pension Plan - CLAR Current Valuation Performance data not available for this wrapper. Owned by Mr Corey Clarke Model Portfolio: Argentum Asset Allocation July 2013 Risk Profile: CAUTIOUS+ Units Held Latest Price Current Value Yield %* Yield * Zurich Executive Pension Plan - CLAR Zurich Managed 3/4 AP Cap , Total 3, * Fund yield data provided by FE Analytics. Yield % shows the historic percentage of income generated by the underlying investments. This income is not guaranteed and may rise as well as fall. Yield shows the amount of income based on the historical percentage of income paid, multiplied by the current value. Transact ISA (Stocks/Shares) - CLAR Current Valuation Performance data not available for this wrapper. Owned by Mrs Madeleine Clarke Model Portfolio: Argentum Asset Allocation July 2013 Risk Profile: CAUTIOUS+ Units Held Latest Price Current Value Yield %* Yield * Transact ISA (Stocks/Shares) - CLAR CF Ruffer Total Return O Acc 1, , % First State Asia Pacific Leaders A GBP Acc 1, , % Fundsmith Equity R Acc 3, , % M&G Optimal Income A Acc GBP 4, , % Schroder QEP US Core Inst Acc , % Total 34, % * Fund yield data provided by FE Analytics. Yield % shows the historic percentage of income generated by the underlying investments. This income is not guaranteed and may rise as well as fall. Yield shows the amount of income based on the historical percentage of income paid, multiplied by the current value. warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

11 Appendices The data within this report has been supplied by third parties. Care has been taken to ensure that the information is correct but Argentum Wealth neither warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.

12 Valuation report: Mr & Mrs Corey Clarke 4 December 2013 Portfolio Summary Instrument Name Currency 6m 1y 3y 5y Portfolio Valuation report: Mr & Mrs Corey Clarke GBP Benchmark FTSE All Share - Dec 85 GBP Performance figures to last price date Estimated Charge: Weighted average of the OCF of all holdings. Where OCF is unavailable TER is used.if an underlying instrument has no OCF or TER figure, the estimated charge cannot be calculated. Hist. Yield Est. Charge FE Risk Score Portfolio Composition 1 Year 3 Years Original Hist. Est. Fund Manager Name % Holding Yield Perf. Contrb Qtl Perf. Est. Contrb Qtl FE Crown Rating Countrywide Assured Plc Managed Pn - Feb M&G UK Optimal Income - Dec CF Ruffer Investment Mgmt Ltd Total Return - Nov Schroder UT Managers QEP US Core - Jan Fundsmith Equity - Nov First State Investments UK Ltd Asia Pacific Leaders - Dec Zurich Assurance Ltd Managed - Feb Total Portfolio Selected Benchmark FTSE All Share - Dec Performance figures to last price date, rebased inpounds Sterling, ordered by largest original holdings. Estimated contribution values are based on the percentage weightings being correct at the start of the analysed performance period. Portfolio Ratios Fund Manager Name Volatility Alpha Beta Sharpe r 2 Countrywide Assured Plc Managed Pn - Feb M&G UK Optimal Income - Dec CF Ruffer Investment Mgmt Ltd Total Return - Nov Schroder UT Managers QEP US Core - Jan Fundsmith Equity - Nov First State Investments UK Ltd Asia Pacific Leaders - Dec Zurich Assurance Ltd Managed - Feb Total Portfolio Selected Benchmark FTSE All Share - Dec Ratio figures based on last 36 months total return performance, rebased in Pounds Sterling. Ratio figures are annualised where applicable. The benchmark for each holding is the portfolio benchmark. Asset Allocation ' Sector Allocation ' Region Allocation ' Top 10 Holdings Original % 1 Undisclosed TREASURY 1.25% GILT 22/7/18 2 GBP TREASURY 1.25% IDX-LKD GILT TREASURY 1% GILT 7/9/ GBP0.01 OVERSEA-CHINESE BANKING 5 CORP UNITED STATES OF AMER 6 TREAS BILLS 0.125% TB 15/04/16 USD MICROSOFT CORP CSL 0.35 Name Original % Name Original % Name Original % TREASURY 1.875% IDX LKD 9 GILT 22/11/22 GBP UNITED STATES OF AMER 10TREAS NOTES 0.125% BDS 15/01/22 USD North American Equities Undisclosed UK UK Equities Consumer Products 5.69 North America UK Fixed Interest Investment Grade Bonds 4.99 Pacific Basin 7.58 European Equities 8.66 Telecom, Media & Technology 4.06 Europe 7.09 Asia Pacific Equities 6.46 Corporate Bonds 3.26 International 6.60 Global Fixed Interest 5.31 Health Care 2.51 Japan 4.05 Japanese Equities 4.05 Government Bonds 2.42 Not Specified 3.76 Asia Pacific Emerging Equities 3.51 Financials 2.33 Europe ex UK 2.86 Property 3.01 Industrials 2.05 Money Market 1.99 Others 2.61 Others 8.28 Other 4.62 Portfolio breakdown and holdings are based on latest published data for each constituent which may have different publication dates. Portfolio start date is required to calculate current weightings.

13 Portfolio Backtested vs. Benchmark over 5 years 36% 34% 32% B 30% 28% A 26% 24% 22% 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% Nov 10 Mar 11 Jul Nov Mar 12 Jul Nov Mar 13 Jul Nov A - Valuation report: Mr & Mrs Corey Clarke - [27.55%] B - FTSE All Share - [31.87%] 01/11/ /12/2013 Powered by data from FE Relative Performance of Holdings over 1 year 30% 25% 20% 15% 10% 5% 0% -5% Jan 13 Feb Mar Apr May Jun Jul Aug Sep Oct Nov A - Schroder UT Managers QEP US Core - [26.91%] B - Fundsmith Equity - [20.92%] C - Countrywide Assured Plc Managed Pn - [20.22%] D - CF Ruffer Investment Mgmt Ltd Total Return - [11.16%] E - Zurich Assurance Ltd Managed - [9.85%] F - M&G UK Optimal Income - [7.57%] G - First State Investments UK Ltd Asia Pacific Lead.. - [1.76%] 03/12/ /12/2013 Powered by data from FE A B C D E F G Short Term Monthly Discrete Performance over 1 year Dec 12 Jan 13 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Valuation report: Mr & Mrs Corey Clarke FTSE All Share Powered by data from FE Long Term Yearly Discrete Performance over 5 years Dec 2011 Dec 2012 Valuation report: Mr & Mrs Corey Clarke FTSE All Share Powered by data from FE Rolling 6 months Volatility vs. Benchmark over 1 year Jan 13 Feb Mar Apr May Jun Jul Aug Sep Oct Nov A - Valuation report: Mr & Mrs Corey Clarke B - FTSE All Share 31/12/ /12/2013 Powered by data from FE B A Weekly Omega chart over 1 year Omega Key Valuation report: Mr & Mrs Corey Clarke FTSE All Share Weekly Return Powered by data from FE Data provided by FE. Care has been taken to ensure that the information is correct but it neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Financial Express Limited Registration number: Registered office: 7 Chertsey Road, Woking, Surrey, GU21 5AB. Telephone Website:

14 Disclaimers This review was prepared for your information on the date shown. Please note that the values listed will not necessarily be those achieved on sale of the holdings. Valuations will be prepared, generally, on the basis of the middle market price at the close of business on the review date, and as supplied by external information providers. For certain securities, the price may be on a different basis, e.g. last trade or bid price. However, valuations for pension accounts will be prepared on the basis of the quarter-up price, to comply with HMRC rules. The quarter-up price is calculated as halfway between the bid and mid price. Where future dividend rates have not been published or are not available from our proprietary price feeds, protected annual income and yields have been calculated using the historical gross income including notional tax credits if applicable. Where we have treated a holding to be Negligible Value for CGT purposes, we have removed the stock from the portfolio. Should we receive a liquidation payment it will be credited to your account. Unless securities are held in our custody, we cannot accept any liability for error. ln particular, performance figures included on the Valuation pages could be inaccurate. Please ensure that the holdings shown on this review are correct. No liability will be accepted for errors beyond our control. Where original cost figures are not available the notation N/A may be used or a nominal sum may be inserted. This may make the total book cost figures inaccurate but will not affect the current value. Please note that the book costs used in this review are calculated on a straight line basis with transactions pooled chronologically. This can differ considerably from the cost used for Capital Gains Tax calculations due to the complex share identification rules. lf you are unsure, please consult your investment advisor before dealing. This review contains reference to past performance of certain investments. Past performance is not a guide to the future, and unless a capital guarantee has been specifically mentioned, all investments may fall as well as rise and you may not get back the full amount invested especially on early encashment. All information, data and documentation associated to all clients are treated as strictly private and confidential. All data provided is protected under the terms of the Data Protection Act and confidential in accordance with the terms of the UK Financial Services Act. Argentum Wealth Limited is not authorised and regulated by the Financial Conduct Authority. Argentum Wealth Ltd. 99 Milton Park Abingdon Oxfordshire OX14 4RY Tel: sales@sprintenterprise.co.uk warrants,represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.