HIGH MARGIN GROWTH HIGH MARGIN GROWTH. Proactive Investors One2One Forum. 1 9 O c t o b e r AGM - 17 May, 2018 London, UK

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1 1 HIGH MARGIN GROWTH HIGH MARGIN GROWTH Proactive Investors One2One Forum 1 9 O c t o b e r AGM - 17 May, 2018 London, UK

2 2 HIGH MARGIN GROWTH OPPORTUNITY High margin onshore production and development assets with transformational exploration upside

3 Overview 3 AIM and TSX-V listed (TSXV: SDX/ AIM:SDX) Successful secondary listing & capital raise on AIM in 2016 (204.4M shares) C.300+% uplift since AIM listing, Acquired COP Egyptian and Moroccan Assets in Jan 17 Solid Production Base Cash flow positive to c.us$10/bbl Brent (at the corporate level) Current net production: 3,474 boe/d Reserves: Egypt Gross 2P Reserves: 24.6 MMBOE (31/12/17) Morocco Gross 2P Reserves: 6.48 BCF (31/12/17) Solid balance sheet as of 31 March 2018: US$43 MM of Working Capital (US$ 29.3 MM in Cash), No debt Generating +/-$3.5MM of cash flow/month Development potential to double corporate production South Disouq & Rabul High impact, successful exploration programs underway South Disouq discovery, flowed 25.8 MMscf/d (or 4,300 boe/d) Rabul 1, 2, 4 & 5 discovery in Sept, added an additional 2,500 Bopd (481 net) KSR-14, 15, 16, ONZ-7, SAH-2, LNB-1 & LMS-1 (Morocco) Successful, above expectation Well placed to capitalise on opportunities in N. Africa

4 Corporate and Financial Highlights Q Results Overview 3 months ended March 31 4 US$ million except per unit amounts Net Revenues Netback (1) Net realized average oil/service fees - US$/barrel Net realized average Morocco gas price - US$/mcf Netback US$/boe EBITDAX Non-cash exploration & eval n expense (3.3) (0.1) Depletion, depreciation and amortization (2.5) (3.5) (Loss)/gain on acquisition (0.2) 29.5 Total comprehensive income Net cash generated from operating activities Cash and cash equivalents Main components of comprehensive income of US$0.3MM for the 3 months to 31/3/18 US$9.0 million netback; US$(3.3) million non-cash E&A expense in Morocco and US$(2.5) million DD&A US$(1.2) million G&A; and US$(1.3) million Corporate Income Tax Netback of US$9.0 million, up from US6.1 million for the same period last year (High margin Moroccan business for full quarter and higher oil prices) Strong operating cash flow of US$11.0 million, funded Capex in period Cash position of US$29.3 million as at 31/3/18, reflects continuing strong netbacks and Working Capital improvements particularly in Egypt where the Company received a one-off US$6.0 million payment from EGPC in the quarter

5 Production for Q NW Gemsa 1,814 boepd Meseda 558 boepd Morocco 664 boepd Total 3,036 boepd Q Operational Highlights 5 Production at 15/5/18 NW Gemsa 2,059 boepd Meseda 727 boepd Morocco 688 boepd Total 3,474 boepd Egypt NW Gemsa 7 well workover programme now having effect. 2 wells drilling. Current gross production rate c.4,120 boepd Meseda Rabul discoveries producing c2,500 bopd 2 development wells in Meseda to be drilled H Current gross rate 3,800 bopd South Disouq Ibn Yunus-1X currently being tested. Kelvin-1X drilling now 2 further development wells, CPF, 10 km connection H Plateau production rate (gross) 50MMscfd, start up late 2018 South Ramadan Commitment well spudding May Non-core asset. Morocco 9 well program - 78%/(7 from 9) success rate Production averaged 5.3MMscfd. Average gas sales price $10.03/MCF Peugeot pipeline construction now complete Target exit 2018 production 8-10MMscfd

6 6 ASSETS EGYPT SDX 55% WI & Operator SDX 12.75% WI SDX 50% WI & Joint Operator SDX 50% WI SDX 50% WI

7 7 SDX 55% WI & Operator SDX 12.75% WI SDX 50% WI & Joint Operator SDX 50% WI

8 NORTH WEST GEMSA 8 HIGH MARGIN PRODUCING ASSET Waterflood development completed in 2 horizons Low operating costs ~ $US10/bbl Very low future Capex requirements Significantly cash generative going forward Produces light (40 API) oil, sold at a 10% discount to Brent Attractive Netbacks: Netback vs. Brent Oil Price Brent: US$/BBL $30 $40 $50 $60 $65 $70 $75 Netback: US$/BBL $2.7 $6.9 $11.1 $15.3 $17.3 $19.4 $21.5

9 MESEDA 9 SIGNIFICANT DEVELOPMENT & EXPLORATION POTENTIAL 50% Working Interest Joint Operator 3,800 boepd Avg. production (gross), Q Mmboe 2P Reserves (gross), 31 Dec Mmboe Cumulative production to 31 Dec June 2011 Discovery Date November 2011 Production Start Up 22 wells drilled to date, 18 currently producing Including recent discovery wells in the Rabul area Partner: Dublin International Petroleum 2018 WORK PLAN Complete 5 well work-over program (ESP changes) Drill 2 development locations (Rabul) Complete Rabul satellite facility development Drill 2 infill producers (Meseda)

10 MESEDA 10 Facility Upgrade Completed Well workover candidates identified Development well locations identified 2 Infill lease line producers (Meseda) 2 Development locations (Rabul) Waterflood program implemented Produces heavy (17-20 API) oil, sold at a 30% discount to Brent Very Attractive Netback: HIGH MARGIN PRODUCING ASSET Netback vs. Brent Oil Price Brent: US$/BBL $30 $40 $50 $60 $65 $70 $75 Netback: US$/BBL $12.0 $18.0 $24.0 $30.0 $33.0 $36.0 $39.0

11 Top Yusr Depth Map Post Rabul-4 and -5 Top Yusr Depth Map May 2018 OWC -4177ft TVDss is dashed blue Contour intervals are 50ft Page 11

12 EGYPT 12 55% Working Interest (Operator) 1,275 km 2 Concession area SOUTH DISOUQ 227 BCF & (P Mean) Gross Contingent and Prospective Resources 11 Mmbo 6.4 TCF & Rec. Volumes within Abu Madi Baltim Trend (IHS) 100 Mmbo Abu-Madi Baltim Trend 65 km s north of Cairo within prolific Abu Madi Baltim trend Located within existing oil and gas transport infrastructure Main gas, condensate and oil lines transect block Discovery made (April 2017) - 10 km s from main grid connection point Targeting two near-field prospects Kelvin and Ibn Yunus 2018 WORK PLAN Commence Development Program Drill 2 Appraisal Locations Drill 2 Exploration Locations Ibn Yunus successful ft of Pay Construct Central Facility ( MMscfd) Construct 12 Pipeline to main distribution system Production Start-up H2 2018

13 Click to edit Master title style SOUTH DISOUQ DISCOVERY APRIL 2017 South Disouq-1X CPI Click to edit Master text styles Second level Third level Fourth level Fifth level SD-1X Flowed 25.8 MMscf/d 82ft /25m of pay Phie: 25%, Sg: 75% Page 13

14 14 Post Discovery Technical Work

15 WEST Click TO to edit EAST Master SEISMIC title AMPLITUDE style SECTION THROUGH SD -1X Click to edit Master text styles Second level Third level Fourth level Fifth level SD-1X Pre-Drill Seismic amplitude responses seen in multiple horizons, not all were gas bearing. Post discovery of the SD-1X additional technical work was undertaken. Page 15

16 WEST TO EAST SEISMIC INVERSION SECTION THROUGH SD -1X Click to edit Master title style Click to edit Master text styles Second level Third level Fourth level Fifth level SD-1X Seismic Inversion work, post SD-1X discovery, shows the ability to potentially distinguish between gas and non-gas bearing sections. Results extend across entire 3D area Page 16

17 SECTION THROUGH INVERSION SEISMIC A SD-1X B KELVIN LEADS IBN YUNUS B IBN YUNUS Elevation depth [ft] SD-1X KELVIN A Gas bearing horizons in the South Disouq discovery correlate well to similar sections in the Kelvin and Ibn Yunus prospects. Potential exists for Kelvin and South Disouq to become one large structure. Appear to have a continuous gas bearing section connecting them SD-1X Base Kafr El Sheik Scale Depth (ft ss) 1: m Contour inc 30 Page 17

18 Click IBN Yunus to edit Discovery Master title style APRIL 2018 Click to edit Master text styles Second level Third level Fourth level Fifth level Ibn Yunus-1X - CPI CPI. IY-1X gross/ net Phie 28.5%, Sg 78% Page 18

19 ABU MADI POST DISCOVERY VOLUME POTENTIAL Click to edit Master title style Elevation depth [ft] IBN YUNUS SD-1X SD-1X KELVIN I b n Yu n u s s u c c e s s v a l i d a te s t h e p o s t d i s c o v e r y te c h n i c a l w o r k. I n v e rs i o n te c h n i q u e c a n b e u t i l i s e d t o d i f fe re n t i a te ga s b e a r i n g f ro m wa te r b e a r i n g h o r i zo n s a c ro s s t h e d a ta s e t H av e s i m i l a r s e i s m i c i n v e rs i o n re s p o n s e s t o ga s b e a r i n g s e c t i o n s at SD-1X discovery Ke l v i n & I b n Yu n u s p ro s p e c t s - u p t o B C F o f a d d i t i o n a l p o te n t i a l A re a s i g n i f i c a nfourth t l y level d e - r i s ke d a s a Fifth level re s u l t o f m u l t i p l e d i s c o v e r i e s Second level Third level S i g n i f i c a n t p o te n t i a l i d e n t i f i e d edit p o sclick t Stoo u t hmaster D i stext o ustyles q discovery Base Kafr El Sheik To ta l v o l u m e p o te n t i a l c o u l d n o w e xc e e d 2. 5 TC F ( u n r i s ke d ). Scale Depth (ft ss) 1: m Contour inc 30 ABU MADI Prospectivity Map Page 19

20 20 MOROCCO: PRODUCING & EXPLORATION ASSETS

21 21 Exploration SDX 75% WI & Operator Exploration SDX 75% WI & Operator Exploration SDX 75% WI & Operator Production & Development SDX 75% WI & Operator

22 MOROCCO 22 Moroccan Gas Sales Currently selling 5.9 MMscfd (gross) at an average price of US$10.50/MCF Local gas price is based upon alternative supply which is imported compressed natural gas or bottled gas at US$18.00/MCF Gas is sold directly to local industrial users High Netback market (cus$9.22 mscf at a Gas Price of US$10.00 mscf) Local gas demand significantly outstrips supply Significant pressure by industry to find more gas to connect additional users to reduce manufacturing cost advantage current customers are realizing Current Gas contracts are 5 year fixed price agreements Future gas price contracts will range between $10 - $12/MCF based upon recent contract discussions and MOU s Peugeot car manufacturing plant connection is complete. Anticipate start-up of factory in q2 2018

23 MOROCCO 23 DEVELOPMENT/EXPLORATION POTENTIAL: SEISMIC ANOMALIES Amplitude analysis suggests the presence of gas-filled sand bodies across the area Technique used very successfully in past campaigns Overall success rates of 80% for wells drilled in these concessions Current Development/Exploration Campaign Nine amplitude-supported prospects in 3D area Targeting BCF of un-risked potential volumes Multiple target horizons allows for stacked pay 7 of the 9 wells have been successful! All well results have Exceeded initial expectations Wells have tested in excess of 6 MMscfd Individual wells can meet daily requirements Production increase in 2018 to 8-10 MMscfd Pipeline capacity of 24 MMscfd, target for YE 2020 All development locations are close to existing infrastructure Most wells can be placed on production in 30 days

24 DRILLING CAMPAIGN RESULTS Permit Name Result Net Pay Rate 24 Sebou KSR-14 Conventional Natural Gas Discovery 20.0m 6.40 MMscf/d Sebou KSR-15 Conventional Natural Gas Discovery 17.2m 7.52 MMscf/d Sebou KSR-16 Conventional Natural Gas Discovery 14.2m 8.43 MMscf/d Gharb Centre ELQ-1* Uncommercial Discovery 2.0m Not Tested Sebou ONZ-7** Conventional Natural Gas Discovery 5.0m MMscf/d Sebou KSS-2*** Dry Hole Nil Not Tested Sebou SAH-2 + Conventional Natural Gas Discovery 5.2m MMscf/d Lalla Mimouna (Exploration) LNB-1 ++ Conventional Natural Gas Discovery ~300m thermogenic gas column Not yet Tested Lalla Mimouna (Exploration) LMS Conventional Natural Gas Discovery 16.4m Not yet Tested Well results announced *January 4, **January 15, ***February 21, + March 9, ++ April 20, and +++ May 7, 2018

25 LNB-1 GAS DISCOVERY 25 Lafkerena ~1260mMD Absence of gas shows in shales above the target Top Increased Gas Section 20%+ Gas shows centred on target Include heavier HC components Base Increased Gas Section nc5, ic5, nc4, ic4, C3, C2, C1 Chetwan ~1820 mmd The LNB-1 well has discovered over 300m of biogenic and thermogenic gas intervals

26 LNB-1 STRUCTURE CONTOUR AT 1500 MS DEPTH 26 LNB-1 Recoverable Volume Estimates - BCF Case Vol. (BCF) P P P Pmean 10.8 LNB-1 Discovery details Channel structure where mapping of the feature is definitive as it stands out from the background seismic. The channel section encountered is ~300m thick, with ~250m of highly elevated gas shows that are anticipated to contain the better (sandier) section Channel-fill looks mostly comprised of intercalated thin-bedded sandstones, siltstones and clays Similar to channel-fills recorded and tested and produced in other basins (Nile Delta; Mt Messenger formation, etc. ) Gas charge is a mixture of the typical Rharb Basin biogenic gas with some deeper thermogenic charge migrated to the section via the multiple faults visible in the area The section above the Lafkerena shows no gas indicating a good seal is likely with the shales Gas shows start and end with the target feature, and are clearly related to it

27 LMS-1 GAS DISCOVERY 27 Target was a bright anomaly sitting right on top of the Prerifaines Nappes.

28 LMS-1 WELL RESULTS m of net 32% porosity LMS-1 has encountered 16.4 meters of gas sands with thermogenic components at the target level, right on top of Marls forming the top of the Nappe. Cuttings fluorescence indicate presence of condensate LMS-1 Recoverable Volume Estimates - BCF Case Vol. (BCF) P P P Pmean 4.54

29 29 SUMMARY

30 Morocco Egypt Fully funded with active 2018 work programme 30 Exit rate of 2018 anticipated +/- 8000boepd¹ - more than 2X current rate Two active drilling programs (Egypt & Morocco) Currently have 4 rigs running (and up to 5 during Q2 2018) Field NW Gemsa Meseda Activity AASE-25 AASE-27 7 Workovers Rabul - 5 Rabul - 4 Lease Line - 1 Lease Line Workovers st Quarter 2nd Quarter 3rd Quarter 4th Quarter S. Disouq Ibn Yunus - 1X Kelvin - 1X SD-4X SD-3X Appraising and proving up material upside S. Ramadan SRM-3 Morocco ELQ-1 ONZ-7 KSS-2 SAH-2 LNB-1 LMS-1 3D Seismic Acquisition Incremental cash generating projects Exploration Note 1 Assuming work programme successfully carried out Development Appraisal Facilites Workover 3D Seismic Contingent

31 SDX is significantly undervalued 31 Currently trades at a >50% discount to RENAV Un-Risked S. Diouq Oil Morocco Exploration S. Disouq Exploration Oil Gas Risked Expl Upside Gas W. Capital S. Ramadan Morocco S. Disouq Current market cap: c.us$199 m ( 0.71 / sh) Meseda NW Gemsa Core NAV US $1.12 / share GBP 0.82 / share Risked Expl. upside US$0.88 / share GBP 0.64 / share RENAV US$2.00 / share GBP 1.46/share Unrisked NAV US$3.26 / share GBP 2.38/share Notes 1 NAV calculated using Brent forward price of $60/BBL, Gas prices ((/MCF): Egypt $2.65, Morocco $ Assumes FX rate- USD/CAD: 1.25, GBP/USD: Based on best case management estimates of NAV subject to change.

32 CONCLUSIONS SDX had an outstanding 2017 Reserves up by 45% (post COP), 122% year on year Net revenue up 204% from $12.9m in 2016 to $39.2m in 2017 Production up by 171% year on year (1,196 to 3,327 boepd) 100% Drilling success rate in 2017! 32 Well Funded US$43 MM of Working Capital (US$ 29.3 MM in Cash), No debt Generating +/-$3.5MM of cash flow/month Fully funded for all future activities Exciting 2018 Ahead Currently running 4 drilling rigs and will increase to 5 during Q NW Gemsa 4,400 boepd (gross) 2 infill wells & 7 workovers Meseda 3,800 bopd (gross) 2 infills Meseda 2 development wells Rabul - Completed & Successful South Disouq development plan approved 4 well campaign Underway, first well successful Expect first gas in late H Anticipated Flow Rates MMscfd ( k BOE/D) Morocco Production: 8-10 MMscfd 2 exploration wells in Lalla Mimouna Completed & Successful 240 km 2 of 3D seismic in Gharb Centre Exit rate of 2018 anticipated +/ boepd 2X current rate

33 33 High Margin Growth

34 ADVISORY 34 Reserves Data The determination of oil and natural gas reserves involves the preparation of estimates that have an inherent degree of associated uncertainty. Categories of proved, probable and possible reserves have been established to reflect the level of these uncertainties and to provide an indication of the probability of recovery. The estimation and classification of reserves requires the application of professional judgment combined with geological and engineering knowledge to assess whether or not specific reserves classification criteria have been satisfied. Knowledge of concepts including uncertainty and risk, probability and statistics, and deterministic and probabilistic estimation methods is required to properly use and apply reserves definitions. The recovery and reserve estimates of oil reserves provided herein are estimates only. Actual reserves may be greater than or less than the estimates provided herein. Terms related to reserves classifications referred to herein are based on definitions and guidelines in the Canadian Oil and Gas Evaluation Handbook ( COGE Handbook ) and are in accordance with National Instrument Standards of Disclosure for Oil and Gas Activities. In relation to SDX s assets, Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. The qualitative certainty levels referred to in the definitions above are applicable to individual reserves entities, which refers to the lowest level at which reserves calculations are performed, and to reported reserves, which refers to the highest level sum of individual entity estimates for which reserves estimates are presented. Reported reserves should target the following levels of certainty under a specific set of economic conditions: at least a 90 percent probability that the quantities actually recovered will equal or exceed the estimated proved reserves. This category of reserves can also be denoted as 1P; at least a 50 percent probability that the quantities actually recovered will equal or exceed the sum of the estimated proved plus probable reserves. This category of reserves can also be denoted as 2P; and at least a 10 percent probability that the quantities actually recovered will equal or exceed the sum of the estimated proved plus probable reserves. This category of reserves can also be denoted as 3P. Additional clarification of certainty levels associated with reserves estimates and the effect of aggregation is provided in the COGE Handbook. The estimates of reserves for individual properties may not reflect the same confidence level as estimates of reserves for all properties, due to the effects of aggregation. Use of the term boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Certain volumes provided in this presentation represent a pro forma arithmetic sum of multiple estimates of proved plus probable reserves, or proved plus probable plus possible reserves, which statistical principles indicate may be misleading as to volumes that may actually be recovered. Readers should give attention to the estimates of individual classes of reserves and appreciate the differing probabilities of recovery associated with each class as explained in the annual oil and gas disclosure filings of SDX (available on and the effects of arithmetic aggregation. Factors that could affect the accuracy of the reported pro forma aggregated reserves estimates include company level differences in evaluation effective dates, reservoir characteristics and pricing assumptions. Reserves information in this presentation relating to SDX s assets are based on the independent reserves evaluation of the Preliminary Competent Person s Report as of December 31,2015 on certain properties owned by SDX Energy Inc. in Egypt prepared by DeGolyer and MacNaughton Canada Limited and the Competent Person s Report as of 23 January 2017 on certain properties owned by SDX Energy Inc. in Morocco prepared by Lloyd s Register. Page 34

35 ADVISORY 35 THIS PRESENTATION IS CONFIDENTIAL AND IS BEING SUPPLIED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED, FURTHER DISTRIBUTED TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR PART, FOR ANY PURPOSE, WITHOUT THE EXPRESS WRITTEN CONSENT OF SDX. This presentation does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of SDX have not been and will not be registered under the US Securities Act of 1933, as amended (the Securities Act ), or qualified for sale under the law of any state or other jurisdiction of the United States and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Company does not intend to register any securities under the Securities Act, and no public offering of securities in the United States will be made. In the United States, this presentation is directed only at, and may be communicated only to, persons that are qualified institutional buyers as defined in Rule 144A under the Securities Act (such persons hereinafter referred to as QIBs ). Neither this document, nor any copy of it, may be taken or transmitted into the United States (other than to a limited number of QIBs), Australia, South Africa or Japan or into any jurisdiction where it would be unlawful to do so. Any failure to comply with this restriction may constitute a violation of relevant local securities laws. By receiving a copy of this presentation, you will be deemed to have represented to SDX and Stifel that you are a QIB. The information set out in these Presentation Materials will not form the basis of any contract. Any successful purchaser of an Investor Interest will be required to acknowledge in writing that it has not relied on or been induced to enter such agreement by any representation or warranty, save as expressly set out in such agreement. The Presentation Materials have been delivered to interested parties for information only and upon the express understanding that such parties will use it only for the purpose set out above. SDX undertakes no obligation to provide the recipient with access to any additional information or to correct any inaccuracies herein which may become apparent, and it reserves the right, without advance notice, to change the procedure for the acquisition of an Investor Interest or to terminate negotiations at any time prior to the completion of such acquisition. The issue of the Presentation Materials shall not be taken as any form of commitment on the part of SDX to proceed with any transaction. The contents of this document have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA") for the purposes of section 21 of FSMA. The Presentation Materials are only being made available to the following: persons having professional experience in matters relating to investments and who are investment professionals as specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Financial Promotion Order ); and persons to whom Article 49(2) of the Financial Promotion Order applies, being high net worth companies, unincorporated associations, partnerships or trusts or their respective directors, officers or employees as described in Article 49 of the Financial Promotion Order. It is a condition of your receiving the Presentation Materials that you fall within, and you warrant to SDX and to the Bookrunner that you fall within, one of the categories of person described above. The Presentation Materials may contain unpublished price sensitive information or undisclosed material information with regard to SDX and/or its securities. Recipients of the Presentation Materials should not deal or encourage any other any other person to deal in the securities of SDX whilst they remain in possession of such unpublished price sensitive information or undisclosed material information and until the transactions described in the Presentation Materials are announced. Dealing in securities of the Company when in possession of unpublished price sensitive information or undisclosed material information could result in liability under the insider dealing restrictions set out in the Criminal Justice Act 1993 or the insider trading and/or tipping provisions of Canadian securities laws. This document may contain information which is not generally available, but which, if available, would or would be likely to be regarded as relevant when deciding the terms on which transactions in the shares of SDX should be effected. Unreasonable behaviour based on such information could result in liability under the market abuse provisions of FSMA. Any prospective purchaser interested in acquiring an Investor Interest in SDX is recommended to seek independent financial advice. Law in certain jurisdictions may restrict the distribution of this document or of the giving of the Presentation Materials and any subsequent offer for sale or sale of the Investor Interest. Persons into whose possession this document or the information from the Presentation Materials comes are required to inform themselves as to and observe any such restrictions. If the recipient does not fall within one of the categories above the recipient should either return, destroy or ignore the information in the Presentation Materials. Cantor Fitzgerald Europe which is authorised in the United Kingdom by the FCA for the conduct of investment business is acting for SDX as its Nominated Adviser in relation to matters described in this document and will not be responsible in respect of such matters to any other person for providing protections afforded to customers of Cantor Fitzgerald Europe or for providing advice in relation to those matters. Stifel which is authorised in the United Kingdom by the FCA for the conduct of investment business is acting for SDX in relation to matters described in this document and will not be responsible in respect of such matters to any other person for providing protections afforded to customers of Stifel or for providing advice in relation to those matters. 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