Terms of Use

1. Who We Are

Zenvest Intelligence is a subscription service operated by Zenvest Partners Limited, a company registered in England and Wales under company number 13707298. Our registered office is at 64 Southwark Bridge Road, London SE1 0AS.

Zenvest Partners Limited is not authorised or regulated by the Financial Conduct Authority (FCA), the European Securities and Markets Authority (ESMA), or any equivalent regulatory authority for the purposes of providing investment advice, investment research, or regulated financial services. Nothing in this service should be interpreted as implying any such authorisation or regulation.

2. Nature of the Service — What This Is and Is Not

Zenvest Intelligence provides subscribers with governance-related informational content derived from publicly available sources, with analytical commentary provided by Zenvest Partners analysts. Specifically:

• What this service is: A curated, analyst-annotated digest of publicly available governance and shareholder-related information, including regulatory filings, exchange disclosures, independent governance research and voting policy disclosures, AGM notices, and company announcements, accompanied by independent analytical commentary from Zenvest Partners analysts.
• What this service is not: Investment advice, a recommendation to buy, sell, or hold any security or financial instrument, regulated investment research within the meaning of MiFID II or FSMA 2000, a financial promotion, or a substitute for independent professional advice.

The content provided through this service is not intended to influence, and should not be relied upon to influence, any investment decision. Subscribers should form their own independent judgement and seek qualified professional advice where appropriate.

3. Who May Subscribe — Eligibility and Individual Purchasers

Zenvest Intelligence is designed for governance professionals and for corporate and institutional subscribers. Advisory mandates offered separately by Zenvest Partners Limited under the Zenvest Advisory service are available to corporate and institutional clients only and are not offered to individuals.

An individual may nonetheless subscribe to Zenvest Intelligence at their own discretion. Where an individual subscribes:

• the subscription is entered into on that individual's own initiative and at their own risk;
• no content provided under the subscription constitutes investment advice, financial advice, legal advice, or a personal recommendation to that individual, and no content is tailored to their individual circumstances, objectives, knowledge, experience or financial position;
• the individual remains solely responsible for any decision they take in connection with content received, and for obtaining independent professional advice where appropriate; and
• subject to Clause 10, Zenvest Partners Limited accepts no liability for any loss, damage, or adverse outcome arising from an individual's use of, or reliance on, content provided through this service.

Subscribing to Zenvest Intelligence does not create an advisory, fiduciary, agency or client relationship between the subscriber and Zenvest Partners Limited.

4. Sources and Analytical Methodology

All content delivered through Zenvest Intelligence is produced from one or more of the following source categories:

• Regulatory and exchange filings: Disclosures filed with regulatory authorities or stock exchanges, including but not limited to the SEC (EDGAR), the UK Regulatory News Service (RNS), HKEX, and equivalent systems in other jurisdictions. These are public documents available to any person.
• Independent governance research and voting policy disclosures: Publicly available voting policy statements, governance recommendations, and stewardship reports published by independent governance research firms. Zenvest Partners does not reproduce these materials; it references and analyses them independently.
• Company and shareholder communications: Annual reports, AGM notices, shareholder letters, and press releases published by companies or their shareholders in the public domain.
• Zenvest Partners independent analysis: Analytical commentary, editorial selection, synthesis, and interpretative content produced by Zenvest Partners analysts, drawing on the above public sources. This analytical layer represents the proprietary contribution of Zenvest Partners Limited.

Zenvest Partners Limited does not redistribute, resell, or incorporate any third-party licensed data into subscriber-facing content. All underlying public source materials remain the property of their respective originators, publishers, or regulatory bodies as applicable.

5. How Content Is Produced

Zenvest Partners Limited uses artificial intelligence tools as part of the production process for content delivered through this service. Specifically, AI tools are used to gather and organise source material from the public sources described in Clause 4, and to assist in assembling initial drafts.

All content is reviewed and edited by a Zenvest Partners analyst before it is released to subscribers. Editorial control over what is published, and editorial responsibility for it, rests at all times with Zenvest Partners Limited. No content is delivered to subscribers without human review.

Analytical commentary, editorial selection, interpretation and judgement expressed in content delivered through this service represent the views of Zenvest Partners analysts, not the output of an automated system.

6. Intellectual Property Ownership

The intellectual property position of Zenvest Intelligence operates across three distinct layers, each governed by different ownership principles:

Layer 1 — Public source material. Regulatory filings, exchange disclosures, AGM notices, independent governance research publications, and company announcements are public documents. They are not owned by Zenvest Partners Limited. Zenvest Partners Limited claims no proprietary rights in this material and does not represent any such rights to subscribers.

Layer 2 — Third-party licensed data. Zenvest Partners Limited holds data licences with third-party providers for its own internal advisory use. Data accessed under those licences is the property of the relevant licensor and is governed by the terms of those licences. No third-party licensed data is redistributed to subscribers through this service. Subscribers have no access to, and acquire no rights in, any third-party licensed data through their subscription.

Layer 3 — Zenvest Partners analytical output. The selection, organisation, editorial commentary, synthesis, and analytical overlays produced by Zenvest Partners analysts and delivered through this service constitute original intellectual property of Zenvest Partners Limited and are protected under applicable copyright and database right legislation in the United Kingdom and European Union. This is the layer subscribers are paying for and to which the licence in Clause 7 below applies.

7. Subscriber Licence

Upon payment of the applicable subscription fee, Zenvest Partners Limited grants the subscriber a personal, non-exclusive, non-transferable, revocable licence to access and use the analytical content delivered through this service for the subscriber's own information and internal business purposes only, subject to these Terms of Use.

This licence does not permit the subscriber to:

• Reproduce, copy, or extract substantial portions of content for distribution to third parties;
• Redistribute, resell, sublicense, or commercially exploit any content received through the service;
• Use content to train, develop, or enhance any artificial intelligence model, algorithm, or automated system;
• Share login credentials or otherwise permit any person other than the named subscriber to access the service;
• Represent content as their own work or remove any attribution to Zenvest Partners Limited;
• Use content in a manner that could constitute a financial promotion or investment recommendation to any third party.

Any use of content beyond the scope of this licence requires the prior written consent of Zenvest Partners Limited.

8. Subscription, Cancellation and Refunds

8.1 Billing. Subscriptions are billed monthly or annually in advance through our payment processor. All prices are stated in pounds sterling. Zenvest Partners Limited is not currently registered for VAT, and no VAT is charged on subscription fees. If Zenvest Partners Limited becomes VAT registered, prices will be updated and subscribers notified in advance of the change taking effect.

8.2 Cancellation by the subscriber. You may cancel your subscription at any time. Cancellation takes effect at the end of the billing period in which notice is given, and access continues until that date. We do not provide pro-rata refunds for part-periods once a billing period has begun, except where required by law or where Clause 8.3 applies.

8.3 Statutory cancellation rights for consumers. If you are subscribing as a consumer rather than in the course of a business, you have the right under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 to cancel within 14 days of entering into the contract. Where you ask us to begin supplying content within that 14-day period, you acknowledge that you will lose the right to cancel once the service has been fully performed, and that where the service has been partly performed you may be charged a proportionate amount for content already supplied. To exercise this right, contact us using the details in Clause 15.

8.4 Suspension or termination by us. We may suspend or terminate a subscription where a subscriber breaches these Terms of Use, in particular the licence restrictions in Clause 7. Where we terminate for breach, no refund is due. Where we discontinue the service altogether, we will refund the unused portion of any prepaid period.

8.5 Complaints. If you are dissatisfied with any aspect of the service, please contact us using the details in Clause 15. We aim to acknowledge complaints within five business days and to respond substantively within twenty business days.

9. No Warranty — Accuracy and Completeness

Zenvest Partners Limited takes reasonable care in producing content but does not warrant the accuracy, completeness, or timeliness of any content delivered through this service. Public source materials may contain errors, may be updated or corrected after publication, and may not reflect the most current available information at the time of delivery. No representation is made that coverage of any market, company, or event is complete.

Past governance outcomes, voting patterns, or activist campaign results described in this service are not indicative of future results. Any analytical commentary provided by Zenvest Partners analysts represents the independent view of those analysts at the time of production and may subsequently prove inaccurate or incomplete.

10. Limitation of Liability

To the fullest extent permitted by applicable law, Zenvest Partners Limited excludes all liability for any loss or damage arising from reliance on content provided through this service, including but not limited to any investment loss, trading loss, or consequential financial loss, and including any adverse outcome arising from a decision taken by an individual subscriber in the circumstances described in Clause 3.

Nothing in these Terms of Use excludes or limits liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be excluded or limited under applicable law. Nothing in these Terms of Use affects the statutory rights of a subscriber who contracts as a consumer.

11. EU and UK Regulatory Position

This service is designed and operated to fall within the scope of general information services rather than regulated financial services under applicable EU and UK law, including MiFID II (Directive 2014/65/EU), the UK Financial Services and Markets Act 2000, and the Market Abuse Regulation (EU) 596/2014 as retained in UK law. In particular:

• Content is derived from publicly available information and does not draw on material non-public information;
• No content is presented as a personalised recommendation directed at a specific subscriber's individual circumstances;
• No content purports to constitute investment research as defined under MiFID II or equivalent UK regulation;
• Zenvest Partners Limited does not hold itself out as providing a regulated service and does not seek to circumvent applicable regulatory requirements through this service.

Subscribers who are themselves subject to regulatory obligations (including regulated firms, authorised persons, and their employees) remain solely responsible for ensuring that their use of this service is consistent with their own applicable regulatory requirements.

12. Data Protection

Personal data provided in connection with a subscription or enquiry is processed in accordance with our Privacy Policy, which forms part of these Terms of Use and explains what we collect, why, how long we keep it, and the rights available to you under the UK GDPR and Data Protection Act 2018.

13. Governing Law

These Terms of Use are governed by and construed in accordance with the laws of England and Wales. Any dispute arising from or in connection with these Terms of Use shall be subject to the exclusive jurisdiction of the courts of England and Wales.

14. Changes to These Terms

Zenvest Partners Limited reserves the right to amend these Terms of Use at any time. Subscribers will be notified of material changes. Continued use of the service following notification of any change constitutes acceptance of the revised terms.

15. Contact

For any queries regarding these Terms of Use, cancellation, complaints, intellectual property matters, or the scope of the licence granted by your subscription, please contact us at GlobalAdvisory@Zenvest-Partners.com or write to us at 64 Southwark Bridge Road, London SE1 0AS.