Instant Messages

Instant messages posted by RBC Capital Markets personnel are subject to the following disclaimer.

DISCLAIMER

Instant messages, along with their attachments, received by or sent from RBC Capital Markets are subject to review by supervisory personnel. Such communications are retained by and may be produced to regulatory authorities or others with legal rights to the instant messages or their contents.

Instant messages and any attachments may contain confidential or privileged information. If you are not the intended recipient, please do not copy, retain, disclose or use any part of the message or its attachments. Please notify the sender immediately by return instant message, terminate the instant message session and destroy or delete any copies. Dissemination or use of this information by anyone other than the intended recipient is unauthorized and may be illegal.

Unless otherwise stated, opinions expressed in this instant message are those of the author and are not endorsed by RBC Capital Markets. This message may have been prepared by RBC Capital Markets sales or trading personnel as market commentary. If such, it is not intended as a research report or recommendation, or to provide a sufficient basis for an investment decision. Unless otherwise stated, this communication is neither an offer, nor the solicitation of an offer, to sell or purchase a security. Any views expressed herein may differ from those of RBC Capital Markets research analysts.

Communications over the Internet, including instant messages, cannot be guaranteed to be secure or error-free. Instant messages and their attachments are subject to being intercepted, becoming corrupted, getting lost or delayed, or to containing viruses. Therefore, neither the sender nor RBC Capital Markets accepts any liability for any errors or omissions in the content of this message or problems in its transmission, including those arising as a result of its transmission over the Internet.