Jubilee Asset Management Limited

Terms of Business

1. OVERVIEW

WELCOME TO THE JUBILEE UNIT TRUST COLLECTIVE INVESTMENT SCHEME.

Thank you for trusting us with your investment goals. This product is offered by Jubilee Asset Management Limited, situated at Jubilee
Insurance Centre, Wabera street, Nairobi, Kenya. P.O. Box 30376 – 00100. Jubilee Asset Management Limited is licensed as a Fund
Manager by the Capital Markets Authority of Kenya (“CMA”).

By investing in our products and services, you are agreeing to these terms. Please read through the Terms and Conditions carefully
before signing and investing in one of our products.

Kindly note that due to diverse nature of our financial services offering, additional terms or requirements may apply in the event
there is change of laws and policies. These additional terms will be availed on the company website and a notification sent to you to
consent to the updated terms of the contract.

2. DATA PROTECTION

Jubilee Asset Management Limited (” JAML/The Company/Manager/Administrator/Fund Manager”) respects the privacy and
protects the personal and sensitive personal data of its prospective and existing clients and complies with the Data Protection Act,
2019 and the Data Protection Regulations 2021.

The personal and sensitive data requested will be used for the provision of quotations, administration of, and/or other services
relating to the Investment policy you are seeking to place with JAML or already have with us. All information provided on this
application (and any additional supporting pages) will be treated in accordance with the requirement of the Data Protection Act and
Regulations.

JAML shall, at all times, make sure that your data and information is only used for lawful purposes. You may ask us to stop processing
your data, however, this may affect the services we provide to you or may stop us from being able to assist you. To find out how long
we will keep your data, please refer to our Privacy Policy at https://jubileeinsurance.com/ke/privacy-policy/.
Your personal and sensitive personal data will be shared with our appointed third-party service providers (Data Processors and SubProcessors) for the purpose of providing services related specifically to the investment products you are seeking or have in place with us. JAML may also be required to provide relevant data to Regulators, the Government or any other institution or organization, for
lawful or statutory purposes.

Personal and Sensitive Personal Data may be transferred outside Kenya through cross border transfer of data, and in line with this,
further consent is hereby sought from you for this purpose. Appropriate data protection safeguards will be put in place regarding
the data transferred. Cross border transfer of personal and personal sensitive data includes transfer of such data outside Kenya
for the performance related to a contract; implementation of pre-contractual measures at a data subject’s request; matters of public
interest, for the establishment, exercise or defense of a legal claim, or the purpose of compelling legitimate interests pursued by the
Data Controller or Data Processor which do not override the interests, rights and freedoms of the data subject. The transfer of data
cross border may also occur in circumstances JAML utilizes the services of a third-party service provider with regard to the storage
of personal data.

Under the conditions defined by the Data Protection Act 2019 and Data Protection Regulations 2021, you have the right to:
I. Access your personal data and information on the processing (processing purposes, categories of personal data concerned,
recipients to whom your personal data has been or will be communicated and the retention period).

II. Access, rectification and/or have your personal data erased.
JUBILEE ASET MANAGEMENT LIMITED
Head Office:
Jubilee Insurance Centre, Wabera Street,
P.O. Box 30376 – 00100 GPO, Nairobi, Kenya
Tel: +254 20 328 1000
Call Centre: +254 709 949 000
Email: jamlcustomerservice@jubileekenya.com
www.jubileeinsurance.com

III. The right to receive the personal data provided to JAML in a structured and legible format: This shall be done free of charge by
writing to the Data Protection Officer at: Jubilee Asset Management Limited, Jubilee House, Wabera Street, Nairobi, Kenya, or
by e-mailing privacy@jubileekenya.com

IV. Oppose, for legitimate reasons, the processing and use of your personal data.

V. Request us to transfer your personal data to another Data Controller.

VI. Lodge a complaint with us at privacy@jubileekenya.com

VII. At any time, change your personal data and revoke your consent for the retention of the data. You also have the right to
appoint a third party to whom your data may be communicated to after your death. You agree to inform the third party of their
appointment.

VIII. Withdraw your consent to the processing activities at any time.

JAML reserves the right to not send or delete your personal data in some circumstances, in which case, we will write to you advising
the reasons why, as detailed in Data Protection (General) Regulation 2021 – Clause No. 12(4) (b) (e). We request your explicit
consent for the processing of your personal and sensitive personal data as outlined above. Without this consent JAML will not be in
a position to handle your data, provide the quote(s)or services you are seeking.

Each and every person over the age of 18 years covered under the policy or seeking a quotation must complete and sign a separate
consent form. Their consent will be valid for the entire duration of their policy, unless they decide to change or revoke it at any time.
A parent or guardian should complete the consent for any policy member that is under the age of eighteen (18) years. If you accept
the above, please sign, date, and check the “I consent” box below: I consent I do not consent

Separately, consent is sought from you to share your personal data with other Jubilee Insurance entities such as Jubilee Life Insurance
Limited, Jubilee Health Insurance Limited, and Jubilee Holdings Limited to enable them to offer other financial services and improve
our service propositions. The personal data shared will be processed lawfully by the other companies. If you accept the above, please
sign the specific consent below, date and check the “I consent” box:
I consent I do not consent

3. ACCOUNT OPENING

I. An investor may open an investment account with JAML with the minimum entry requirement. The client will receive personalized
investment advice and services from the Fund Manager based on their risk appetite. The funds from the investment account will
be invested in the Jubilee Unit Trust Collective Investment Schemes or other Jubilee Investment Funds as selected by the client.

II. The investment will only come into effect when JAML has informed the Investor in writing that the Application Form has been
accepted and if JAML has received the initial investment amount.

III. Account opening and activation will be done within 48 hours or less, following the receipt of a duly completed and signed
Application Form, together with all the necessary accompanying documentation.

IV. Clients will be instructed on how to deposit their initial investment once their application has been approved, following due
diligence carried out by the Fund Manager on the client.

V. JAML reserves the right to withhold processing of any unclear, incomplete, or ambiguous Application Forms received from the
Investor should a complete Application Form not be received within 21 days of receipt of the funds, the funds will be returned
to the source bank account.

VI. If the Investor is not a natural person, a resolution from the legal entity giving the signatory/ies authority to sign on behalf of the
legal entity will be required. JAML shall not be liable or responsible for any reason if the signatory/ies is/are not duly authorized
and the signatory/ies indemnify JAML against any and all damage/s and/or loss arising from such event.

VII. If the Application Form is submitted electronically via email or the web portal, the responsibility of ensuring that the Application
Form has been received and actioned by JAML will lie with the Investor and/or their Financial Advisor. A printed copy of a sent
email, in the hands of the sender will not be regarded as proof that JAML received a specific document.

4. BEST EXECUTION

When executing orders on your behalf in relation to financial instruments (as defined in the Information Memorandum) we will take
all reasonable steps to achieve what is called ‘best execution’ of your orders. Our policy and procedures therefore are designed to
obtain the best possible result for your orders subject to and considering what category of client you are, the financial instruments
concerned, the nature of your orders, the nature of the markets and any specific instructions from you.

5. DECLARATIONS

The Undersigned hereby certifies the following:

I. I/We warrant that I am/we are duly authorized to sign this Account Opening Form and to invest in, switch or sell units in Jubilee
Asset Management Limited Unit Trust Funds (The Funds) and other Jubilee Investment Funds, and that by my/our investing,
holding or purchasing units I/we will not be in breach of any laws or regulations of any competent jurisdiction and I / we hereby
indemnify the Manager, Investment Manager, Custodian, Trustee, Administrator and other unitholders for any loss suffered by
them as a result of this warranty / representation not being true in every respect.

II. I/we agree to provide the declaration and warranties contained herein to Jubilee Asset Management Limited and at such time as
Jubilee Asset Management Limited may request such certifications, documents, or other evidence as Jubilee Asset Management
Limited may reasonably require substantiating such representations. I/we agree to notify Jubilee Asset Management Limited
immediately if I/we become aware that any of the declarations or warranties contained herein is / are no longer accurate or
complete in all respects.

III. I/we hereby confirm that Jubilee Asset Management Limited, the Manager and the Administrator are each hereby authorized
and instructed to accept and execute any instructions in respect of the units to which this application relates given by me/us in
written form, e-mail or by facsimile. I/we hereby indemnify JAML, the Manager and the Administrator and agree to keep them
indemnified, against any loss of any nature whatsoever arising to each of them as a result of any of them acting upon facsimile,
e-mail or telephone instructions. In circumstances where such instructions relate to a change in the Bank Account Details for
redemption payments referred to above, I/we confirm that I/we will provide JAML, the Manager or the Administrator with an
original written instruction. The Manager and Administrator may rely conclusively upon and shall incur no liability in respect of
any action taken upon any notice, consent, request, instruction, or other instrument believed in good faith to be genuine or to be
signed by properly authorized persons.

IV. I/we confirm that I/we have accessed and understood a copy of the relevant Trust Deed (available on the company website)
for the Jubilee Unit Trust Funds in which I/we wish to invest at the date of this application, as well as the Supplements thereto
(together the Trust Deed). I / we acknowledge that this application is made on the terms of the Trust Deed and material contracts
referred to therein.

V. I/we direct that on the death of one of us the Units for which we hereby apply will be held in the name of and to the order of the
survivor(s) of us or the executors and administrators of such survivor (applicable to natural persons only).

VI. Redemptions will only be made into the bank account as detailed in the Bank account details provided in this application. Under
no circumstances will any redemptions be paid into third party or nominee accounts.

6. ANTI-MONEY LAUNDERING/COUNTER TERRORISM FINANCING (AML/CFT) DECLARATION

I/We confirm that the money used for investments in the Jubilee Unit Trust Collective Investment Scheme is not arising out of proceeds
of any money laundering or other illicit activities.
JAML, the Manager and the Administrator reserve the right to seek evidence of identity to comply with applicable money laundering
regulations. In such case of delay or failure to provide satisfactory information, JAML, the Manager and the Administrator may take
such action as they see fit.

7. US CITIZEN DECLARATION

I/We hereby expressly acknowledge and agree that pursuant to the Foreign Account Tax Compliance Act (FATCA) enacted under
the Laws of the United States of America (US), the Fund Manager is or may be required for US citizens or residents to disclose and
report certain information concerning my/ our account to the relevant authorities including but not limited to the US Internal Revenue
Service (“US Authorities”). Additionally, FATCA may require the Fund Manager to deduct, withhold and remit such taxes or monies
to the US Authorities as may be directed by them from time to time.

I/We hereby expressly consent and authorize the Fund Manager to disclose, respond, advise, exchange and communicate the details
or information pertaining to my/our account(s) to the US Authorities and to deduct, withhold and remit such monies or taxes as may
be directed by the US Authorities to enable the Fund Manager to fulfil its obligations under FATCA and other enabling US statutes.

8. TAX DECLARATION

I/We authorize JAML to deduct, withhold and remit any monies or taxes prescribed in the Kenyan Law to fulfil its obligations to the
Kenya Revenue Authority (KRA).

I/We acknowledge and understand that Jubilee Asset Management Limited is not responsible for any tax liability that I/ we may incur
or for changes in my /our tax status because of any changes to the current tax regime.

9. STATEMENTS

The Fund Manager will endeavor to send monthly statement of investment account to every unit holder by the 5th of the following
month. The statement will include a valuation of the client’s investment account, inclusive of earnings, taxes and expenses due to the
account.

10. SWITCHES

A unit holder may switch units from one fund to another within the Jubilee Unit Trust Collective Investment Scheme. This switch can
be done by completing a switch application form to give the Fund Manager express instructions to move a specified number of units
from one fund to another. The switch involves liquidation of the units the unit holder has in the fund based on that day’s unit price and
buying of the units the unit holder is switching to at that day’s price.

11. TERMINATION/ACCOUNT CLOSURE

The Unit Holder may at any time opt to close their investment account. JAML will endeavor to pay the client any funds in the client’s
investment account within 3 business days.
The Manager reserves the right to terminate its relationship with the client by giving a 30-day notice in the event that the client
does not provide all the relevant Know Your Customer (KYC) documentation required, is found to be involved in fraud or Money
Laundering/ Terrorism Financing activities.

12. COMPLAINTS PROCEDURE

JAML has a formal complaints procedure to ensure that any issue is resolved in a timely manner and to the investor’s satisfaction.
Should you wish to complain about the services that you have received from JAML, please direct your complaints in writing to the
customer service department:

ATTENTION: Manager, Fund Services
TEL: +254 709 90 1000/ +254 20 328 1000
EMAIL: JAMLcustomerservice@jubileekenya.com

JAML will conduct the required investigation into your complaint and will revert to you with a written response to your complaint
within a maximum of 7 business days from the date on which your complaint was received, provided that, where circumstances make
it impossible for JAML to fully investigate your complaint within the allowed time frame, JAML may, supported by the reasons why it
is unable to investigate your complaint in the time frame allowed, communicate an extended time frame to you.

Please note that, for JAML to investigate fully and comprehensively any complaint, additional information may be required from you.
Should you be unable to provide such information within the time frames required by JAML, it may take longer than the stated 7
business days to complete the investigation of the complaint. If you are not satisfied with the reply to your complaint or the outcome
of the investigation into your complaint, or if the customer service team is unable to resolve your complaint, you may direct your
complaint to the Compliance Department, whose contact details are below:

ATTENTION: Assistant Manager, Risk & Compliance
TEL: +254 709 90 1000/ +254 20 328 1000
EMAIL: JAMLCompliance@jubileekenya.com