Important Legal Information

Please read these Terms and Conditions of Use (“Terms and Conditions”) carefully.

PIMCO Latin America Administradora de Carteiras Ltda (“PIMCO”) owns and operates this website (“Site”). By reading these Terms and Conditions and clicking the “I Agree” button, you expressly indicate that you understand and intend these Terms and Conditions to be the legal equivalent of a signed, written contract, and you accept the terms of use as set forth herein and agree to be legally bound by them. If you do not agree to these Terms and Conditions, you will not be entitled to access this website or any pages thereof.

The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation or which would subject PIMCO or any of PIMCO’s products or services to any authorization, registration, licensing or notification requirement within any jurisdiction in Latin America or the Caribbean. The Latin America and Caribbean website has been created for informational purposes and is intended to be accessed or used only by current investors in the funds or existing clients of PIMCO.

Reservation of Rights
We reserve the right, at our discretion, to change, modify, add, or remove portions of these Terms and Conditions at any time. Each time we modify, change, add or remove portions of these Terms and Conditions you will be required to read the new version and click the “I Agree” button so as to confirm that you are in accordance with the new Terms and Conditions and continue to use the Site. If you do not agree the modifications, changes, additions or subtractions to these Terms and Conditions you will not be allowed to use the Site.

Use of Content
The Content (as defined below) of this Site is available for informational purposes only. The posting of Content and access to this Site does not constitute, either explicitly or implicitly, any provision of services or products by PIMCO or any of their respective affiliates. No investment advice, tax advice, or legal advice is provided through this website. You agree that this website will not be used by you for these purposes. You acknowledge that your use of this website, and any requests for information made through this website, have not been solicited by PIMCO or any of its affiliates and that the provision of any information through this website shall not constitute or be considered investment advice. It is the exclusive responsibility of the investor to consider carefully the material circumstances of each investment prior to making an investment decision.

Copyright
This Site (including the software and files), the computers hosting this Site, and content provided on this Site, including any text, music and sound, graphics, images, photographs, audio and video, footage, animations, podcasts, analyses, studies, reports, and downloads (all such content collectively, the “Content”) are the exclusive property of PIMCO or are licensed to PIMCO, and are protected by law. PIMCO reserves all rights with respect to its proprietary information or material on this Site and will enforce such rights to the full extent of applicable copyright and trademark law. Except as expressly provided in these Terms and Conditions, PIMCO does not grant any express or implied rights to you. All rights in the pages and Site Content are owned by PIMCO and their respective licensors. You agree not to sell, distribute, publish, broadcast, circulate or commercially exploit Site Content in any manner without the express written consent of PIMCO. Any downloading or otherwise copying from this Site will not transfer title to any software or material to you. Unless otherwise noted PIMCO and other brands featured on the Site constitute our trade/service marks. You agree not to directly or indirectly: attempt to register, challenge or contest the validity of the respective PIMCO Company’s ownership of, such copyrights, trademarks or any other intellectual property of any PIMCO Company, or assist any third party in doing so.

Authorization of Use of the Site
By reading and accepting these Terms and Conditions, PIMCO authorizes you to use this Site conditioned on your continued compliance and acceptance with these Terms and Conditions. Limited portions of the Content available in the public areas of the Site may be accessed, printed and downloaded on an occasional basis for personal, scholarly, research or non-commercial purposes; provided that all hard copies contain all copyright and other applicable proprietary rights notices included in such content and information and/or appropriate attribution to PIMCO in a form and manner acceptable to us. For information on obtaining permission to use any Content beyond the uses permitted above, please contact PIMCO -800 Newport Center Drive, Newport Beach, CA 92660, 800-387-4626. Unless and except as otherwise expressly permitted by these Terms and Conditions, you may not access, copy, reproduce, modify, create derivative works of, alter, publicly distribute, republish, upload, post, transmit, publicly perform or display, license, transfer, sell, mirror, frame, “deep link,” “scrape,” data mine, or otherwise use any information or material obtained from or through this Site, without written permission from PIMCO. Any unauthorized use of this Site or the Content will terminate the authorization granted herein and may violate applicable laws, including copyright law, trademark laws, and commercial regulations and statutes.

No Offer
Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security. The Site is not intended for use by any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of the information on this Site is prohibited. It is the responsibility of any person accessing this Site to inform himself of, and to observe fully, any restrictions or prohibitions of the applicable laws and regulations of any relevant jurisdiction.

The information provided is for informational purposes only. This website does not constitute an offering or recommendation by PIMCO to residents of Latin America or the Caribbean of any security, investment management service or advisory service. PIMCO is not registered as a brokerage firm, investment advisor, financial services firm or fund manager in any jurisdiction in Latin America or the Caribbean.

Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue” and similar expressions identify forward-looking statements.

The matters discussed herein may also involve risks and uncertainties. PIMCO assumes no obligation to update any forward-looking information contained herein

No Reliance
Although PIMCO has taken reasonable care to ensure that the information contained within this Site is accurate, no representation or warranty (including liability towards third parties), expressed or implied, is made as to its accuracy, reliability or completeness by PIMCO or their contractual partners. Opinions and any other contents on the Site are provided by PIMCO for personal use and informational purposes only and are subject to change without notice. Nothing contained on this Site constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision.

No Warranty
The information and opinions contained on this Site, including hyperlinks or references to other sites, are provided ‘as is’ without any warranty of any kind, either expressed or implied, to the fullest extent permissible pursuant to applicable law. You are responsible for evaluating the adequacy, accuracy, reliability, merchantability, non-infringement, completeness of any information or the content available on the Site or fitness for any particular purpose with respect to the site or any of its content. PIMCO further assumes no responsibility for, and makes no warranties that, functions contained on this Site will be uninterrupted or error-free, that defects will be corrected, or that this Site or the servers that make it available will be free of viruses or other harmful components.

Liability Waiver
Neither PIMCO nor any of their respective affiliates, directors, officers, registered representatives or employees, nor any third party vendor, will be liable or have any liability, whether in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, punitive or special damages arising out of or in any way connected with your access or use or inability to access or use the Site or reliance on the Content, or any failure of performance, interruption, defect, delay in transmission, computer viruses or other harmful components, or line or system failure associated with the Site, regardless of our knowledge thereof. The same is true for any content appearing on any of the PIMCO websites.

Events Beyond PIMCO’s Control
You expressly absolve and release PIMCO, their respective affiliates, related companies, and all of their respective officers, directors, employees, registered representatives, shareholders, legal representatives, attorneys, agents, successors and assigns, from any claim of harm resulting from a cause beyond its control including, but not limited to, the failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems, computer viruses or software failures, unauthorized access, theft, operator errors, severe weather, earthquakes, or natural disasters, strikes or other labor problems, wars, acts of domestic or foreign terrorism or governmental restrictions.

User Representations
You represent and warrant to PIMCO that you will not use this Site for any purpose that is unlawful or prohibited by these Terms and Conditions, including but not limited to attempting or actually (a) disrupting, impairing or otherwise interfering with the operation or integrity of the Site or circumventing any Site security system; (b) collecting any information about other users of the Site; or (c) systematically extracting Content or other information or data contained in the Site to populate databases or other sites.

Linked Sites
Certain hyperlinks or referenced websites on the Site may for your convenience forward you to third parties' websites, which generally are recognized by their top level domain name. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with PIMCO with respect to any linked site or its sponsor, unless expressly stated by PIMCO. Any such information, products or sites have not necessarily been reviewed by PIMCO and are provided or maintained by third parties over whom PIMCO exercises no control. PIMCO expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. PIMCO reserves the right to terminate any hyperlink or hyperlinking program at any time.

Information Submitted By You
You should not submit any confidential or proprietary information via the Site. All information or material submitted through the Site will be deemed to be the property of PIMCO. By submitting any information or material to us through the Site, you grant us an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information. You also agree that PIMCO is free to use for any purpose any ideas, concepts, know-how or techniques that you submit to us through the Site. PIMCO shall not be subject to any obligations of confidentiality regarding submitted information, except as agreed by the PIMCO company having a direct customer relationship or as otherwise specifically agreed or required by law. Note that the treatment of the information submitted in accordance with this section does not regard personal information submitted by you. For information about the treatment granted to personal information submitted by you please refer to the PIMCO’s Privacy Policy.

Privacy Policy
Please see PIMCO’s Privacy Policy to address how PIMCO treats and handles personal data you submit.

Jurisdiction, Severability
Any action arising out of these Terms and Conditions or the Site shall be litigated in, and only in, courts located in Brazil, and you agree to submit to the exclusive jurisdiction of those courts and further agree that they are a convenient forum for you.

In the event that any provision of these terms is held unenforceable, the validity or enforceability of the remaining provisions will not be affected, and the unenforceable provision will be replaced with an enforceable provision that comes close to the intention underlying the unenforceable provision.

Dated: June 2012