Disclosure of Interest

As per SEBI (Research Analysts) Regulations, 2014

1. Analyst Certification

The research analyst(s) principally responsible for preparation of this research report certify that:

• The views expressed accurately reflect their personal views about the subject securities/companies
• No part of their compensation was, is, or will be directly or indirectly related to specific recommendations

2. Ownership & Material Interest

Disclosures regarding ownership and material conflicts of interest:

• The Research Analyst and/or relatives may have financial interest in securities covered
• Disclosure of holdings will be made in individual research reports
• No pending disciplinary action by SEBI or stock exchanges

3. Compensation Disclosure

• TrendMasters has not received compensation from subject companies in past 12 months
• No investment banking relationships exist
• No other material conflict of interest at the time of publishing

4. Compliance Statement

TrendMasters operates in compliance with SEBI (Research Analysts) Regulations, 2014 and any amendments thereof.

5. Registration Details

• SEBI Registration No: INH000024240
• BSE Enlistment No: 6871
• Validity: Valid until cancelled by SEBI