Announcement. on Investment services and Securities dealing of PRIVATE INDIVIDUAL CUSTOMERS and corporate clients EFFECTIVE AS OF NOVEMBER 21, 2016

Announcement on Investment services and securities dealing

Effective as of November 21 2016

Announcement on Investment services and Securities dealing of PRIVATE INDIVIDUAL CUSTOMERS and corporate clients

EFFECTIVE AS OF NOVEMBER 21, 2016

K&H CallCenter: 06 1 335-33-55 06 20 335-33-55 06 30 335-33-55 06 70 335-33-55 Internet: www.kh.hu

The conditions of the services herein contained are applicable to the customers of K&H Bank (further referred to as the Bank). Fees charged for private banking services are contained in a separate Announcement. The principles and rules guiding the business operations of the Bank concerning investment services and securities dealing are contained collectively in the Investment Services Business Code and this Announcement. In respect to conditions not listed in this Announcement the ones listed in the Announcement for Private individual clients on bank accounts and deposits and the Announcement for Corporate clients on account transactions and deposits are effective. The Investment Service Business Code and the Announcement are displayed at the branches and are available to the Bank’s customers free of charge. The Bank expressly reserves the right to unilaterally supplement this Announcement whenever a new service is introduced, and to modify it or the conditions contained herein in line with any changes in money and capital market conditions, in the law and legal regulations or the Bank’s Business Policy, and further, to introduce new fees and other charges in addition to the existing ones (hereinafter jointly referred to as: unilateral contract amendment). In the event that a unilateral contract amendment adversely affects Customers, the Bank shall notify them about the unilateral contract amendment at least 15 days prior to its taking effect by way of the Announcement displayed at the branches. For new contracts, the provisions introduced through unilateral contract amendments are applicable on the day the Announcement is put on display and for contracts concluded earlier, such provisions are applicable as from the day the Announcement takes effect.

Table of contents

1/46



TABLE OF CONTENTS 1. Investments – Securities transactions (for natural persons and corporate clients) ............................................................ 3 1.1. Distribution of open-ended investment coupons – commissions, deal types, characteristics ......................................... 3 1.1.1. Sale and repurchase commissions of investment funds managed in HUF 1 ......................................................... 3 1.1.2. Sale and repurchase commissions of investment funds managed in foreign exchange ...................................... 9 1.1.3. Purchase and redemption commissions for transformed open-ended funds ...................................................... 11 1.1.4. Purchase and redemption commissions for K&H likviditási elszámoló fund ....................................................... 14 1.2. K&H closed-end investment funds – characteristics ..................................................................................................... 15 1.2.1. K&H closed-end funds ......................................................................................................................................... 15 1.3 Securities account management andother fees ............................................................................................................. 17 1.3.1 Fees of transfers ................................................................................................................................................... 20 1.3.2 Order fees ............................................................................................................................................................. 21 1.3.3 Fee for physical delivery ....................................................................................................................................... 22 1.3.4 K&H 4000+ account package ............................................................................................................................... 22 1.3.5. Enhanced maintenance service of securities and client’s accounts ................................................................... 23 1.4. Distribution hours on distribution days in the branches ................................................................................................. 23 1.5. Custody management and handling .............................................................................................................................. 25 2. CallCenter ......................................................................................................................................................................... 25 3. Corporate Client’s orders via telefax ................................................................................................................................. 27 4. E-bank services and distribution hours ............................................................................................................................. 27 5. Commissions received from third parties .......................................................................................................................... 28 6. Investments - K&H dual currency investments ................................................................................................................. 30 6.1 K&H dual currency investments ...................................................................................................................................... 30 6.2 K&H dual currency Tower Investment ............................................................................................................................ 30 6.3 K&H exchange-rate-indexed dual currency investment (range accrual investment)...................................................... 30 Annex Announcement on the calculation of the EHM index ............................................................................................................ 32 Information from the Dataware-house .................................................................................................................................. 33 K&H Bank Group .................................................................................................................................................................. 34 Product risk categories ......................................................................................................................................................... 35 Insurance product risk categories ......................................................................................................................................... 40 Applicable tax regulations ..................................................................................................................................................... 43 Products insured by the National Deposit Insurance Fund (OBA) ....................................................................................... 44 Individual pricing of bonds and K&H dual currency investments .......................................................................................... 45 General conditions for disposal rights over the services and securities accounts available under a framework agreement ............................................................................................................................................................................. 46

Table of contents

2/46



1. Investments – Securities transactions (for natural persons and corporate clients) The Bank distributes investment coupons managed by K&H Investment Fund Management Pld. within the framework of the Bank’s investment and supplementary investment services activity. The investment coupons can only be distributed in the designated branches. See detailed information in the Mutual Funds’ Prospectus and Management Regulations. As a Primary Dealer, the Bank participates in the primary introduction of government securities and their distribution on the secondary market. In the case of the initial public offering of government securities, the actual partner is the Államadósság Kezelő Központ Zrt. (Government Debt Management Agency Zrt.), while trading in the secondary market is conducted with K&H Bank Zrt. as the actual partner. In case of own-account trading of corporate bonds the actual partner is the K&H Bank Zrt. Individual pricing conditions of the bonds are stipulated in Appendix 8. When performing stock exchange transactions on the order of its clients, the Bank employs an Intermediary. This intermediary, is the Hungarian Branch Office of KBC Securities. You can place order for shares, investment coupons and compensation coupons distributed in the Equity Section, where the settlement is on the second distribution day of execution (T+2). A request for the login name to be provided by the National Bank of Hungary for online balance query can be made only through the TeleCenter, Corporate Customer Service or K&H’s e-bank. The password related to login name can be requested through the following channels:  your investment advisor or relationship manager  the TeleCenter;  your remote banker;  the Corporate Customer Service;  K&H’s e-bank. A request for the login name and password shall only be accepted after successful client identification. 1.1. Distribution of open-ended investment coupons – commissions, deal types, characteristics 1.1.1. Sale and repurchase commissions of investment funds managed in HUF1 Fund K&H tőkevédett forint pénzpiaci alap HU0000702329  in the branch and via Call center 

via e-bank

K&H aranykosár alap HU0000702337  in the branch and via Call center 

via e-bank

K&H kötvény alap HU0000702345  in the branch and via Call center 

via e-bank

K&H navigátor indexkövető alap HU0000702352  in the branch and via Call center 

via e-bank

Type of order

Purchase commission / Due

Repurchase commission / Due

T

Free of charge

HUF 300 / on execution

T

Free of charge


T+2

HUF 500 /at placement


T+2



T+2



T+2

HUF 250 /at placemenr


T+2



T+2



3/46

Announcement on Investment services and securities dealing K&H közép-európai részvény alap HU0000702915  in the branch and via Call center T+2  via e-bank T+2 K&H amerika alapok alapja HUF sorozat HU0000701982  in the branch and via Call center 

via e-bank

K&H ázsia alapok alapja HU0000704432  in the branch and via Call center 

via e-bank

K&H ingatlanpiaci részvény alapok alapja HU0000702287  in the branch and via Call center 

via e-bank

K&H öko alapok alapja HU0000705645  in the branch and via Call center 

via e-bank

K&H unió alapok alapja HU0000702360  in the branch and via Call center 

via e-bank

K&H válogatott 1. alapok alapja HU0000703400  in the branch and via Call center 

via e-bank


via e-bank


via e-bank


via e-bank

K&H feltörekvő piaci alapok alapja HU0000707328  in the branch and via Call center 

via e-bank

K&H nyersanyag alapok alapja HUF sorozat HU0000708078  in the branch and via Call center 

via e-bank






T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



T+3



4/46



K&H árfolyamvédett vegyes nyíltvégű alap 





K&H vagyonvédett portfolió – december részalap HU0000715628  in the branch and via Call center T+4


Free of charge



T+4


Free of charge

K&H megtakarítási cél – június részalap HU0000715586  in the branch and via Call center

T+4


Free of charge



T+4


Free of charge

T+4


Free of charge

T+4 K&H vagyonvédett portfólió – augusztus részalap HU0000715610  in the branch and via Call center T+4  via e-bank T+4


Free of charge


Free of charge




Free of charge



via e-bank

K&H megtakarítási cél - február részalap HU0000715578  in the branch and via Call center 



via e-bank

via e-bank

K&H megtakarítási cél - október részalap HU0000715594  in the branch and via Call center

T+4


Free of charge



T+4


Free of charge

K&H vagyonvédett portfolio – április részalap HU0000715602  in the branch and via Call center

T+4


Free of charge



T+4


Free of charge

T+2



T+2



T+2

Free of charge


T+2

Free of charge


T+3



via e-bank

via e-bank

K&H állampapír alap HU0000712872  in the branch and via Call center 

via e-bank

K&H rövid állampapír alap HU0000713789  in the branch and via Call center 

via e-bank

K&H szikra abszolút hozamú származtatott alap HU0000713979  in the branch and via Call center

2

Remarks: T day = order valid as from date T, or T+2, or T+3 or T+4 = Execution date In the case of the Funds listed in the table, the actual partner is K&H Alapkezelő Zrt (K&H Investment Fund Management Pld). Execution date is the starting date of order validity or 2nd or 3rd distribution day following the starting date of order validity. Direction of orders is understood from the client’s point of view. Orders will be calculated on the net asset value valid on the day of the order has been submitted to the bank. In case of purchases, the order is for a sum, in case of repurchases, the order is for pieces. 1

Exemption from the payment of commission with respect to K&H Pension pre-savings accounts will be applicable only to the first buy order(s) following a deposit to the account, up to the amount of the deposit. For the purposes of exemption from the payment of commission, any and all orders and instructions relating to deposits will be taken into consideration, in the sequence of such orders and instructions. 5/46

Announcement on Investment services and securities dealing Effective as of November 21 2016 2 Redemption within 10 distribution days, an extraordinary redemption fee shall be charged equalling the redemption fee + 2%. The extraordinary redemption fee is calculated based on the transaction’s market value. In establishing the 10-day limit, the Bank does not take into account the day of placing the order. In respect to the affected funds, the extraordinary redemption fee is also charged for the change deals. The duration of order performance could be longer because of occasionally announced distribution suspensions by K&H Investment Fund Management Pld having regard to the fact that the days of distribution suspensions are not included in the deadline of order performance.

Actual protection level of investment funds In the case of following funds the manager of the funds strives to minimise the probability of the Net Asset Value of Fund units falling below the price level based on the protection level during the period: Fund K&H megtakarítási cél – február részalap HU0000715578 K&H megtakarítási cél – június részalap HU0000715586 K&H megtakarítási cél – október részalap HU0000715594 K&H vagyonvédett portfólió – augusztus részalap HU0000715610 K&H vagyonvédett portfolió – december részalap HU0000715628 K&H euró megtakarítási cél – április alapok alapja HU0000713532 K&H vagyonvédett portfolió – április részalap HU0000715602 K&H dollár megtakarítási cél – augusztus alapok alapja HU0000715396 K&H euró vagyonvédett portfolió – október alapok alapja HU0000715404

Period 2016.02.16 – 2017.02.15.

Protection level 0,931927 HUF

2016.06.16 – 2017.06.15.

1,064139 HUF

2016.10.18 – 2017.10.16.

0,879233 HUF

2016.08.17 – 2017.08.16.

0,963056HUF

2015.12.16 – 2016.12.15.

1,310317 HUF

2016.04.16 – 2017.04 17.

0,960836EUR

2016.04.16 – 2017.04 17.

0,955416HUF

2016.08.17. – 2017.08.16.

0,845675USD

2016.10.18. – 2017.10.16.

0,902909 EUR

Advance payment fee in case of investment funds listed in point 1.1.1 At the redemption of investment coupons down payment may be paid on the day of the validity of the order. The gross amount of the down payment may come to an amount of 85% - decreased with the repurchase commission - of the last known net asset value of the investment coupons offered for sale. The gross amount deducted with the calculated tax and health care contribution is paid onto client account. Definition Advance payment fee ( based upon the gross value of down payment)

Commission 0,1% min. 1.000 HUF

Due at placement

6/46



Fees of automatic investment transactions Minimum amount of automatic investment transaction is HUF 1.000 Definition

Commission

Due

Placing an automatic investment transaction of buying - via every

Free of charge

-

HUF 50 / transaction

on executing the placement

Free of charge

-

Free of charge

-

channel Fee of executing an automatic investment transaction of buying* - via every channel Modification of automatic investment transaction - via every channel Cancellation of automatic investment transaction - via every channel Automatic investment transaction is allowed in case of every HUF denominated, open ended investment fund. *In case of K&H Pension pre-savings account the regular investment fund purchase orders are free of charge.

Fees applied for K&H mix savings product As part of the K&H mix saving scheme, the following investment notes are offered for sale: investment notes of K&H HUF denominated open-end investment funds, with the exception of investment notes of K&H capital protected HUF money market fund, K&H rövid állampapír fund and derivative open-end funds. K&H open-end investment notes purchased within the K&H mix saving scheme according to the Bank’s Announcement on bank accounts, deposit accounts and fixed deposits of natural persons are kept separated on a securities account opened for this purpose for a period of 180 days after the date of submitting the related transaction order. Within the K&H mix saving scheme, investment notes can only be purchased for K&H Pillar 4 Pension Savings Accounts or LongTerm Savings Accounts. In case investment notes are redeemed before the end of the separation period, the Bank shall charge a termination fee. Name of fee mix termination fee

Rate of fee 0.5% / transaction

Due date when performed

The basis of the termination fee is the value of redeemed investment notes, calculated at the last known asset value. In case of partial redemption of K&H mix savings during the separation period the value is calculated on the base of the amount of order while in case of full redemption the base is the number of investment notes. Investments may only be set up under the ‘K&H mix’ savings scheme in branches. During the separation period, mandates for the redemption of investment notes may only be given in branches too. Conditions pertaining to the deposit part of the scheme can be found in the Announcement covering the bank accounts, deposit accounts and term deposits of private individuals (consumers). Switch deals Switch: Switch: an amount tied up in a certain fund managed by K&H Befektetési Alapkezelő being transferred, without limitation, to another fund of the same denomination or to the same fund in 100% minus the interest rate tax, EHO (healthcare contribution) and the applicable commission with the exception of switch between sub-funds where the amount will not be reduced by the interest rate tax or EHO. Switch means a repurchase deal which is immediately followed by a sale deal, in case of switch deal the client will loose the freedom of interest rate tax in connection with these funds. 7/46

Announcement on Investment services and securities dealing In the case of switch transactions no advance payment may be made.


In the case of capital protected, close-end funds, KBC Bonds funds, K&H nyersanyag alap USD, K&H amerika alap USD, K&H nemzetközi vegyes alap USD and K&H capital protected USD money market found (K&H tőkevédett dollár pénzpiaci alap) no switch deals are allowed. Switch deals of the derived open-ended funds can be shown at 1.1.3. Switch deal commissions: Switch type Between various funds and subfunds denominated in HUF  in the branch and via Call center  via e-bank Between various funds denominated in EUR  in the branch and via Call center  via e-bank Between the same funds – via every channel

Commission

HUF 500 / switch deal HUF 250 / switch deal 2 EUR / switch deal 1 EUR / switch deal Free of charge

Due

at placement at placement at placement at placement -

Switch deal execution dates: Switch type Switch of investment coupon with T day settlement for an investment coupon with T day settlement Switch of investment coupon with T day settlement for an investment coupon with T+2 day settlement Switch of investment coupon with T day settlement for an investment coupon with T+3 day settlement Switch of investment coupon with T day settlement for an investment coupon with T+4 day settlement Switch of investment coupon with T+2 day settlement for an investment coupon with T day settlement Switch of investment coupon with day T+2 settlement for an investment coupon with T+2 day settlement

Switch of investment coupon with T+2 day settlement for an investment coupon with T+3 day settlement


Switch of investment coupon with T+3 day settlement for an investment coupon with T day settlement Switch of investment coupon with T+3 day settlement for an investment coupon with T+2 day settlement


Delivery date order valid as from date In the case of redemption transactions, on the order valid as from date ; in the case of purchase transactions, on the 2nd distribution day following placement of the order valid as from date In the case of redemption transactions, on the order valid as from date , in the case of purchase transactions, on the 3rd distribution day following placement of the order valid as from date In the case of redemption transactions, on the order valid as from date , in the case of purchase transactions, on the 4rd distribution day following placement of the order valid as from date on the 2nd distribution day following placement of the order valid as from date In the case of redemption transactions, on the 2nd distribution day following placement of the order valid as from date; in the case of purchase transactions, on the 4th distribution day following placement of the order valid as from date In the case of redemption transactions, on the 2nd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 5th distribution day following placement of the order valid as from date In the case of redemption transactions, on the 2nd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 6th distribution day following placement of the order valid as from date on the 3rd distribution day following placement of the order valid as from date In the case of redemption transactions, on the 3rd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 5th distribution day following placement of the order valid as from date In the case of redemption transactions, on the 3rd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 6th distribution day following placement of the order valid as from date

8/46

Announcement on Investment services and securities dealing Switch of investment coupon with T+3 day settlement for an investment coupon with T+4 day settlement

Switch of investment coupon with T+4 day settlement for an investment coupon with T day settlement Switch of investment coupon with T+4 day settlement for an investment coupon with T+2 day settlement



Effective as of November 21 2016 In the case of redemption transactions, on the 3rd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 7th distribution day following placement of the order valid as from date on the 4rd distribution day following placement of the order valid as from date In the case of redemption transactions, on the 4rd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 6th distribution day following placement of the order valid as from date In the case of redemption transactions, on the 4rd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 7th distribution day following placement of the order valid as from date In the case of redemption transactions, on the 4rd distribution day following placement of the order valid as from date; in the case of purchase transaction, on the 8th distribution day following placement of the order valid as from date

1.1.2. Sale and repurchase commissions of investment funds managed in foreign exchange

Fund KBC Corporates Bonds EUR LU0094437620  in the branch and via Call center 

via e-bank

KBC Corporates Bonds USD LU0106101842  in the branch and via Call center 

via e-bank

Type of order

Sale commission / Due

Repurchase commission / Due

T+3

1% / at placement

Free of charge

T+3

0,75% / at placement

Free of charge

T+3

1% / at placement

Free of charge

T+3

0,75% / at placement

Free of charge

K&H euró pénzpiaci alap HU0000704127 

in the branch and via Call center

T

Free of charge

1 EUR / on execution



via e-bank

T

Free of charge

0,5 EUR / on execution

T

Free of charge

1,2 USD / on execution

T

Free of charge


K&H tőkevédett dollár pénzpiaci alap HU0000705223  in the branch and via Call center 

via e-bank

K&H nyersanyag alapok alapja USD sorozat HU0000708060  in the branch and via Call center

T+3

2,5 USD / at placement


T+3



T+3

2 EUR / at placement


T+3 K&H nemzetközi vegyes alapok alapja EUR sorozat HU0000709175  in the branch and via Call center T+3  via e-bank T+3









via e-bank

K&H unió alapok alapja EUR sorozat1 HU0000708342  in the branch and via Call center 

via e-bank

K&H nemzetközi vegyes alapok alapja USD sorozat HU0000718002 9/46

Announcement on Investment services and securities dealing  in the branch and via Call center T+3 2,5 USD / at placement 

via e-bank

T+3 K&H euro megtakarítási cél – áprilisi alapok alapja HU0000713532  in the branch and via Call center T+4  via e-bank T+4 K&H euró vagyonvédett portfolió – október alapok alapja HU0000715404  in the branch and via Call center T+4  via e-bank T+4 K&H dollár megtakarítási cél – augusztus alapok alapja HU0000715396  in the branch and via Call center T+4  via e-bank T+4 K&H amerika alapok alapja USD sorozat HU0000717210  in the branch and via Call center 

via e-bank

Effective as of November 21 2016 2,5 USD / on execution




Free of charge


Free of charge


Free of charge


Free of charge


Free of charge


Free of charge

T+3



T+3



1

At the redemption of investment coupons, an advance may be paid on the day of the validity of the order. The amount of the advance may come to an amount equaling 85% - decreased with the repurchase commission - of the last known net asset value of the investment coupons offered for sale. The duration of order performance could be longer because of occasionally announced distribution suspensions by K&H Investment Fund Management Pld having regard to the fact that the days of distribution suspensions are not included in the deadline of order performance. Advance payment fee in case of investment funds listed in point 1.1.2 At the redemption of investment coupons in the branch offices, down payment may be paid on the day of the validity of the order. The gross amount of the down payment may come to an amount of 85% - decreased with the repurchase commission - of the last known net asset value of the investment coupons offered for sale.

The gross amount deducted with the calculated tax is paid onto client account. Definition Advance payment fee in case of EUR funds (based upon the gross value of down payment) Advance payment fee in case of USD funds (based upon the gross value of down payment)

Commission 0,1% min. 4 EUR

Due at placement

0,1% min. 5 USD

at placement

In case the fund redemption executed via e-bank there is no advance payment. In the case of KBC Corporates Bonds funds: the sales commission is based on the purchase price of the investment units bought (net asset value per unit x number of units) upon a buying order, the blanket coverage is established based on the net asset value on the M–3 day the blanket financial coverage to be provided = (net asset value per unit x number of units + sales commission) x 1.05 the settlement period for orders given after 12:00 starts on the trading day following the day of the order Actual business partner: KBC Asset Management

10/46



In case of K&H funds: The actual business partner is the K&H Alapkezelő Zrt (K&H Investment Fund Management Pld). T day = order valid as from date T or T+3 = Execution date Execution date is the starting date of order validity or 2nd distribution day following the starting date of order validity.. Direction of orders is understood from the client’s point of view. Orders will be calculated with the exchange rate valid on the day of execution in case of T type of order and orders will be calculated with the exchange rate valid on the day of starting date of the order validity in case of T+3 type of order. The settlement in case of T type order funds are done by using net asset value of a ticket valid on the settlement day, In case of T+3 type order funds the net asset value of a ticket valid on the day the order is submitted used to the settlement calculation. In case of purchases, the order is for a sum, in case of repurchases, the order is for pieces.

1.1.3. Purchase and redemption commissions for transformed open-ended funds

K&H euro négyes (former K&H havifix euró 3.) HU0000704408 Money-market period Protected period

Period starting date

Period closing date

Purchase commission / due date

Redemption commission / due date

August 28,2009

October 18,2009

free of charge

free of charge

October 19,2009

August 31,2012

1% / at placement

3% / on execution

Money-market period Protected period Yield payment until maturity: 11.26,2013, 11.26,2014, 11.26,2015, 11.25,2016

September 01,2012

November 04, 2012

free of charge

free of charge

November 05, 2012

November 25, 2016

1% / at placement

3% / on execution

Money-market period

November 26, 2016

free of charge

free of charge

K&H dollar négyes (former K&H dollár fix plusz 2.) HU0000704473 Money-market period Protected period


Period closing date



September 14,2009

October 18,2009

free of charge

free of charge

October 19,2009

August 31,2012

1% / at placement

3% / on execution

Money-market period Protected period Yield payment until maturity: 11.26,2013, 11.26,2014, 11.26,2015, 11.25,2016

September 01,2012

November 04, 2012

free of charge

free of charge

November 05, 2012

November 25, 2016

1% / at placement

3% / on execution

Money-market period

November 26, 2016

free of charge

free of charge

K&H versenyképes Európa 2 HU0000713284 Money-market period


Closing distribution day



September 19, 2016.

December 05, 2016

free of charge

free of charge

11/46

Announcement on Investment services and securities dealing K&H tőkét részben előre fizető 3 Period starting date Closing distribution day HU0000711528

Effective as of November 21 2016 Purchase commission / due date


Money-market period

September 26, 2016.

December 05, 2016

free of charge

free of charge

K&H háromszor fizető 14 HU0000712088





October 17, 2016.

December 05, 2016

free of charge

free of charge





November 02, 2016.

December 05, 2016

free of charge

free of charge

Money-market period K&H tőkét négy részletben fizető HU0000711742 Money-market period

Orders of derived open-ended funds can be given only in the branch office, but there is no advance payment. In case of K&H Pension pre-savings account the sale and repurchase are free of charge. In the Money-market period: In case of money-market period funds purchase order can be given for amount, redemption for pieces/units. In case of purchase the mandatory financial coverage equals with the amount of the order. The first validity day of the order shall be the date when the order is executed; executions and settlements are continuously done during the distributional hours. The execution of the order is counted with the net asset value of the unit pertaining to the first validity day of the order. The derived open-end funds denominating HUF can switched K&H tőkevédett forint pénzpiaci fund free of charge, the derived open-end funds denominating EUR can switched K&H tőkevédett dollar pénzpiaci fund also free of charge and the derived openend funds denominating USD can switched K&H tőkevédett dollar pénzpiaci fund also free of charge. In the Protected period : Both the purchase and the redemption order must be given for a specific number of investment fund units. The sale commission is calculated based on the purchase price of the investment coupons, the repurchase commission is calculated based on the redemption price of the investment coupons. Financial coverage to be provided when buying units: (net asset value for one unit x number of items x purchase commission) x 1.2 The amount of financial coverage shall be determined based on the last known net asset value per investment unit before the first day of the validity of the order. In the protected period, as a rule orders shall be settled twice a month: on the 16th of each month; if that is not a trading day, then on the preceding trading day; on the last trading day of each month. In case any of the above mentioned settlement day is happen to be bank-holiday in Belgium, the settlement day is going to be the first day of which precedes the day defined by the rule mentioned above and is banking day both in Belgium and Hungary. In the Protected period orders shall be settled on the net asset value per unit of the execution day; execution is performed on the 5th trading day after settlement day. On the last settlement day of the Protected period the execution and the settlement day is the same. Purchase orders shall be executed up to the maximum issued amount (the closing amount of investment units sold by closing day of the Money-market period ); any allocation shall be performed in the order of execution. Partial execution is possible in case of allocation.

12/46



Mature/ merged funds K&H fix plusz 11.

HU0000703913 The Func merged into the K&H likviditási elszámoló fund in July 22, 2013.

K&H fix plusz 12.

HU0000704010 The Fund merged into the K&H likviditási elszámoló fund in September 30, 2013.

K&H fix plusz 13.

HU0000704093 The Fund merged into the K&H likviditási elszámoló fund in December 30, 2013.

K&H fix plusz 18.

HU0000705421 The maturity date of investment fund was June 01, 2012.

K&H prémium BRIC 95

HU0000705793 The maturity date of investment fund was February 15, 2013.

K&H euro fix plusz 1.

HU0000704861 The maturity date of investment fund was May 31, 2013.

K&H fix plusz 17.


K&H fix plusz 19. K&H tőkevédett nyersanyag 3. (former K&H fix plusz bankszektor)

HU0000705512 The Fund merged into the K&H likviditási elszámoló fund in December 30, 2013.

K&H prémium nagy esélyesek

HU0000707310 The maturity date of investment fund was August 16, 2013.

K&H fix plusz 21.

HU0000705769 The Fund merged into the K&H likviditási elszámoló fund in October 29, 2013.

K&H fix plusz öko K&H plusz élelmiszer (former K&H fix plusz öko 2.) K&H plusz ázsia (former K&H fix plusz ázsia) K&H plusz mezőgazdasági (former K&H fix plusz élelmiszer)


K&H fix plusz élelmiszer 2. K&H fix plusz öko 3.

HU0000710272 The Fund merged into the K&H plusz mezőgazdasági fund in May 30,2011. The Fund merged into the K&H háromszor fizető emlékező 2. fund in July 28, HU0000710421 2014.

K&H előlegfizető

HU0000707088 The maturity date of investment fund was December 13, 2013.

K&H háromszor fizető euró

HU0000707369 The Fund merged into the K&H háromszor fizető euro 2 fund in August 09, 2012.

K&H plusz 2.

HU0000708896 The Fund merged into the K&H likviditási elszámoló fund in April 22, 2013.

K&H háromszor fizető 5.

HU0000708037 The Fund merged into the K&H likviditási elszámoló fund in May 28, 2013.

K&H prémium plusz

HU0000708664 The Fund merged into the K&H likviditási elszámoló fund in July 22, 2013.






HU0000708722 The Fund merged into the K&H likviditási elszámoló fund in January 21, 2014.

K&H prémium hozamváltó


K&H háromszor fizető 11. K&H plusz 3. (former K&H hozamfa 4.)




K&H hozamváltó 2 (former K&H szakaszos hozamú 4)

HU0000705363

K&H hozamváltó 3 K&H euró fix plusz 2 K&H fix plusz 14. K&H szakaszos hozamú 5. K&H fix plusz Rajna (former K&H hozamfa 5) K&H fix plusz 20. K&H fix plusz 15.

HU0000707062 The Fund merged into the K&H likviditási elszámoló fund in July 22, 2013.

HU0000706072 The Fund merged into the K&H likviditási elszámoló fund in October 29, 2013. HU0000706171 The maturity date of investment fund was December 13, 2013. HU0000710280 The Fund merged into the K&H likviditási elszámoló fund in January 21, 2014.


The maturity date of investment fund was April 04, 2014. HU0000709803 The Fund merged into the K&H likviditási elszámoló fund in May 09, 2014. HU0000705074 The maturity date of investment fund was June 30, 2014. HU0000704465 The Fund merged into the K&H likviditási elszámoló fund in July 10, 2014. HU0000708532 The Fund merged into the K&H likviditási elszámoló fund in July 10, 2014. HU0000704283 The Fund merged into the K&H likviditási elszámoló fund in August 22, 2014. HU0000705637 The Fund merged into the K&H likviditási elszámoló fund in August 22, 2014. HU0000711163 The Fund merged into the K&H likviditási elszámoló fund in August 22, 2014.

K&H euró fix plusz 3.

HU0000710306 The Fund merged into the K&H likviditási elszámoló fund in August 22, 2014. HU0000705355 The maturity date of investment fund was September 19, 2014.

K&H forintsáv tőkevédett


K&H hozamváltó 4.

13/46

Announcement on Investment services and securities dealing Effective as of November 21 2016 K&H növekedés plusz 2 HU0000711270 The Fund merged into the K&H likviditási elszámoló fund in December 30, 2014. K&H olimpia plusz K&H háromszor fizető 12 K&H háromszor fizető emlékező K&H plusz nyersanyagdevizák

HU0000711361 The Fund merged into the K&H likviditási elszámoló fund in December 30, 2014. HU0000710587 The Fund merged into the K&H likviditási elszámoló fund in January 28, 2015. HU0000710199 The Fund merged into the K&H likviditási elszámoló fund in January 28, 2015. HU0000711932 The Fund merged into the K&H likviditási elszámoló fund in January 28, 2015.

K&H háromszor fizető emlékező 4. K&H háromszor fizető emlékező 2. (former K&H fix plusz futball)

HU0000710983 The Fund merged into the K&H likviditási elszámoló fund in January 28, 2015. HU0000710439 The Fund merged into the K&H likviditási elszámoló fund in March 11, 2015.

K&H dollár fix plusz 3.

HU0000705629 The maturity date of investment fund was February 20, 2015. HU0000705892 The maturity date of investment fund was March 20, 2015.

K&H euro fix plusz 6. K&H növekedés plusz K&H euró plusz (former K&H euró fix plusz élelmiszer)

HU0000711130 The Fund merged into the K&H likviditási elszámoló fund in May 28, 2015. The maturity date of investment fund was July 17, 2015.

K&H plusz német-svájci

HU0000711825 The Fund merged into the K&H likviditási elszámoló fund in August 05, 2015.

K&H szakaszos hozamú 6. K&H négyszer fizető euró (former euró gyógyvarázs egészség) K&H fix plusz energia (former K&H tőkevédett nyersanyag)

HU0000711262 The Fund merged into the K&H likviditási elszámoló fund in August 05, 2015.

K&H háromszor fizető emlékező 5. K&H háromszor fizető euró 2. (former K&H havifix euro 1.)

HU0000711114 The Fund merged into the K&H likviditási elszámoló fund in December 23, 2015

K&H gyógyszeripari

HU0000712609 The Fund merged into the K&H likviditási elszámoló fund in January 20, 2016

K&H versenyképes Európa

HU0000713110 The Fund merged into the K&H likviditási elszámoló fund in January 20, 2016

K&H tőkét részben előre fizető

HU0000710991 The Fund merged into the K&H likviditási elszámoló fund in April 27, 2016

K&H fix plusz világcégek

HU0000712179 The Fund merged into the K&H likviditási elszámoló fund in April 27, 2016 HU0000712187 The Fund merged into the K&H likviditási elszámoló fund in August 01, 2016

K&H negatív is pozitív K&H háromszor fizető 13 K&H kettős kosár K&H plusz technológia K&H tőkét részben előre fizető 2

HU0000706403

HU0000706890 The maturity date of investment fund was October 30, 2015. HU0000708490 The Fund merged into the K&H likviditási elszámoló fund in December 23, 2015

HU0000704002 The maturity date of investment fund was December 31, 2015.

HU0000711874 The Fund merged into the K&H likviditási elszámoló fund in August 01, 2016 HU0000712294 The Fund merged into the K&H likviditási elszámoló fund in August 01, 2016 HU0000712450 The Fund merged into the K&H likviditási elszámoló fund in September 07, 2016 HU0000711429 The Fund merged into the K&H likviditási elszámoló fund in September 07, 2016

1.1.4. Purchase and redemption commissions for K&H likviditási elszámoló fund

K&H likviditási elszámoló (volt K&H háromszor fizető 4) HU0000712070



1% / at placement

free of charge

In case of purchas the order can be given for amount, in case of repurchase for pieces/units. The sale commission is calculated based on the purchase price of the investment coupons, the repurchase commission is calculated based on the redemption price of the investment coupons. In case of purchase the mandatory financial coverage equals with the amount of the order. The first validity day of the order shall be the date when the order is executed; executions and settlements are continuously done during the distributional hours. The execution of the order is counted with the net asset value of the unit pertaining to the first validity day of the order. K&H likviditási elszámoló fund can switched all of funds of 1.1.1. section free of charge. Orders of derived open-ended funds can be given only in the branch office, but there is no advance payment. In case of K&H Pension pre-savings account the sale and repurchase are free of charge. 14/46



1.2. K&H closed-end investment funds – characteristics 1.2.1. K&H closed-end funds HUF-denominated funds K&H tőkét négy részletben előre fizető 2. HU0000711973 Capital repayment and yield payment until maturity: 02.19.2014., 02.19.2015., 02.19.2016. K&H többször termő HU0000712435 Yield payment until maturity: 07.22. 2014. K&H fix plusz világcégek 2. HU0000712542 K&H többször termő 2. HU0000712583 Yield payment until maturity: 10.21.2014. K&H hozamlépcső HU0000712617 K&H fix plusz világcégek 3. HU0000712864 K&H tőkevédett innovatív Amerika HU0000713086 K&H többször termő 3. HU0000713136 Yield payment until maturity: 01.20.2015. K&H világcégek tőkevédett HU0000712104 K&H tőkét részben előre fizető 4 HU0000713359 Capital repayment and yield payment until maturity: 03.20.2015. K&H kettős kosár 2 tőkevédett HU0000713441 K&H innovatív Amerika HU0000713516 K&H hozamlépcső 2 HU0000713557 K&H többször termő 4 HU0000713672 Yield payment until maturity: 06.18.2015. K&H fellendülő Európa tőkevédett HU0000713698 K&H aktív pihenés tőkevédett HU0000713797 K&H kettős kosár 3 HU0000713888 K&H többször termő 5 HU0000713870 Yield payment until maturity: 09.22.2015.

Launch date

Maturity date

Tenor (months)

Start of payment

February 11, 2013

February 17, 2017

48

February 28, 2017

July 08, 2013

January 20, 2017

42

January 31, 2017

September 10, 2013.

June 16, 2017.

45

June 27, 2017.

October 15, 2013.

April 21, 2017.

42

May 03, 2017.

October 22, 2013.

September 15, 2017.

47

September 26, 2017.

November 26, 2013

August 18, 2017

57

August 29, 2017

December 10, 2013

December 16, 2016

36

December 28, 2016

January 13, 2014

July 21, 2017

42

August 01, 2017

February 18, 2014

November 17, 2017

45

November 28, 2017

March 25, 2014

November 24, 2017

44

December 05, 2017

April 08, 2014

October 13, 2017

42

October 25, 2017

May 09, 2014

May 12, 2017

36

May 23, 2017

June 11, 2014

June 29, 2018

48

July 10, 2018

June 25, 2014

November 24, 2017

41

December 05, 2017

July 22, 2014

December 09, 2016

29

December 20, 2016

July 22, 2014

July 21, 2017

36

August 01, 2017

September 03, 2014

September 14, 2018

48

September 25, 2018

September 16, 2014

March 23, 2018

42

April 03, 2018

15/46

Announcement on Investment services and securities dealing K&H autóipari tőkevédett October 21, 2014 November 15, 2019 HU0000713961 K&H Amerika-Európa October 30, 2014 July 13, 2018 HU0000714001 K&H mozdulj! tőkevédett December 09, 2014 July 12, 2019 HU0000714043 K&H Temze tőkevédett January 20, 2015 November 15, 2019 HU0000714332 K&H Temze January 20, 2015 July 13, 2018 HU0000714340 K&H világcégek tőkevédett 2 March 04, 2015 September 13, 2019 HU0000714423 K&H Amerika-Európa 2 March 04, 2015 November 16, 2018 HU0000714415 K&H erős Amerika April 15, 2015 November 16, 2018 HU0000714522 K&H változó Ázsia April 15, 2015 January 17, 2020 HU0000714514 K&H olajipari June 04,2015 March 14, 2019 HU0000714779 K&H világcégek 2016 June 04, 2015 December 16,2016 Hu0000714787 K&H európai körverseny July 22, 2015 August 16, 2019 HU0000714860 K&H világcégek 4. July 22, 2015 January 12, 2018 HU0000714878 K&H szakaszos hozamú 7. September 16, 2015 September 25, 2020 HU0000715081 K&H jövő autói September 16, 2015 July 12, 2019 HU0000714795 K&H gyógyszeripari 2 October 29, 2015 November 20, 2020 HU0000715529 K&H rugalmas October 29, 2015 October 21, 2022. HU0000715503 K&H prémium világcégek 5. December 09, 2015 June 16, 2017 HU0000715677 K&H prémium fogyasztói javak tőkevédett December 09, 2015 December 14, 2020 HU0000715669 K&H prémium világcégek 6. January 20, 2016. July 14, 2017. HU0000715800 K&H prémium élelmiszeripari January 20, 2016. November 20, 2020. HU0000715818 K&H gyógyszeripari 3 March 09, 2016. November 12, 2021. HU0000715925 K&H prémium európai exportőrök March 09, 2016. November 15, 2019. HU0000715933 K&H prémium gyermekközpontú April 20, 2016. August 13, 2021. HU0000716568 K&H prémium világcégek 7 April 20, 2016. October 12, 2018. HU0000716550 K&H privátbanki olajipari rugalmas May 19, 2016. June 18, 2021. HU0000717046 K&H prémium gondoskodás June 02, 2016 November 12, 2021 Hu0000717020 K&H prémium világcégek 8 June 02, 2016 December 13, 2019 HU0000717038 K&H prémium rangadó July 20, 2016 June 12, 2020 HU0000717202 K&H prémium világcégek 9. September 14, 2016 September 14, 2018 HU0000717459

Effective as of November 21 2016 60

November 26, 2019

45

July 24, 2018

55

July 23, 2019

58

November 26, 2019

42

July 24, 2018

54

September 24, 2019

44

November 27, 2018

43

November 27, 2018

57

January 28, 2020

45

March 26, 2019

18

December 28, 2016

49

August 28, 2019

30

January 23, 2018

60

September 28, 2020

46

July 23, 2019

61

December 01, 2020.

84

November 03, 2022.

18

June 27, 2017

60

December 23, 2020

18

July 25, 2017.

58

December 01, 2020.

68

November 23, 2021.

44

November 26, 2019.

64

August 25, 2021.

30

October 25, 2018.

61

June 29, 2021.

65

November 23, 2021

42

December 27, 2019

47

June 23, 2020

24

September 25, 2018

16/46

Announcement on Investment services and securities dealing Effective as of November 21 2016 K&H prémium gyógyszer- és világcégek September 14, 2016 November 12, 2021 62 November 23, 2021 HU0000717467 K&H prémium világcégek 10 October 26, 2016 November 12, 2021 60 November 23, 2021 HU0000717780 *The fund is transformed into an open-end fund for an indefinite period at the time of its expiration.

FX-denominated funds

K&H euró plusz 2. HU0000712229

Launch date

Maturity date

Tenor (months)

Start of payment

June 03, 2013

June 16, 2017

48

June 27, 2017

Before maturity capital protected, closed-end funds may be traded only at the stock exchange. Funds denominated in EUR are settled in EUR, funds denominated other foreign currency are settled in HUF. In respect of the Funds listed in the tables of this chapter, the actual partner is K&H Alapkezelő Zrt (K&H Investment Fund Management Pld).

1.3 Securities account management and other fees Definition Opening securities and securities custody accounts K&H Pension pre-savings account opening Minimum amount of the opening HUF 5.000 Long-term investment accounts opening Minimum amount of the opening HUF 25.000 or its equivalent in foreign currency Maintenance of securities and securities custody accounts (funds managed by K&H Investment Fund Management Pld. and investment coupons of KBC Bonds) 1

Amount

Due

Free of charge

-

Free of charge Free of charge

870 HUF

-

at the last weekend of each quarter / at account termination

Maintenance of securities and securities custody accounts in case of other securities (per par value of quaterly average stock) 1,4 under 500 million HUF values

0,025%, min. 500 HUF, max. 10.000 HUF

at the last weekend of the each quater / at account termination

0,025% above 500 million HUF values K&H Pension pre-savings account handling (per par value of quarterly average stock) 1

Maintenance of 2016. Long-term investment account Effective as to December 31, 2016 1,2 funds managed by K&H Investment Fund Management Pld. and in case of other securities (per par value) Maintenance Maintenance

of of

2011. 2012.

Long-term Long-term

investment investment

0,025% min. 500 HUF

at the last weekend of the each quater / at account termination

Free of charge

-

account, account, 17/46

Announcement on Investment services and securities dealing Maintenance of 2013. Long-term investment account, Maintenance of 2014. Long-term investment account Maintenance of 2015. Long-term investment account 1, 4 funds managed Management Pld.

by

K&H

Investment

Fund


798 HUF at the last weekend of each quarter / at account termination

In case of other securities (per par value of quarterly average stock) under 500 million HUF values

0,025%, min. 500 HUF, max. 10.000 HUF 0,025 %

above 500 million HUF values Termination of account – in less than 12 months since the opening of the account

6.092 HUF at account termination

The physical collection of securities (as a % of par value)

Free of charge

Intra-bank securities transfer between clients’ accounts

Free of charge

Inter-bank securities transfer (except government securities)

2.000 HUF / securities movement

at placement

Inter-bank government securities transfer

800 HUF / securities movement

at placement

Securities transfer from K&H Pension pre-savings account

Free of charge

Incoming securities transfer under 100 million HUF of nominal value

Free of charge

above 100 million HUF of nominal value

0,1 %

Opening securities custody sub-accounts at KELER Rt. (at the specific request of the client, per securities) Blocking / Unblocking Own-account trading of Government securities and corporate bonds selling / buying3 Cash inpayment fee private individual customers (all type of currency) corporate clients HUF corporate clients EUR, USD HUF Cash withdrawal fee (all type of account) private individual customers

1.000 HUF

at placement at placement


Free of charge 0,11%, min. 200 HUF

at placement

0,5%

0,86% + 653 Ft min. 864 Ft at placement

corporate clients

0,89% min. 535 HUF

EUR Cash withdrawal fee private individual customers

0,86% + 2,2 EUR min. 3 EUR at placement

corporate clients

1,3%

USD Cash withdrawal fee 18/46

Announcement on Investment services and securities dealing private individual customers


0,86% + 2,9 USD min. 3,8 USD at placement

corporate clients Fee for printing one-off account statements Statement sending fee

5

Derivative transactions EMIR reporting (Corp and SME clients) E-trader LOMS (order) modul access fee

1,3% 100 HUF

at placement

169 HUF / month

at the end of the month / at account termination

0 HUF

at placement

0 HUF

end of the month

In respect to minimum/maximum fees and fixed fees, each commenced year, quarter or month counts as a full year, quarter or month. No payment may be made to a client account tied to a securities account using coins or soiled, damaged, incomplete or no longer valid banknotes. Client account earns no interest. 1 The account keeping fee of the blocked securities will be debited on the account from which the securities was blocked. The minimum purchase limit in case of foreign currency denominated government securities and corporate bonds is EUR / USD / GBP / CHF 100.000 in nominal value. The minimum purchase limit in case of HUF denominated FHB mortgages is HUF 28.000.000 in nominal value. 2

This account can be opened from January 04, 2016.

3

The minimum purchase limit in case of HUF denomated government securities is HUF 100.000 (in nominal value), but there is no selling limit. (The directions of the transactions are from client point of view.) 4

Average volume of securities denominated in foreign currency is calculated to HUF based on the last known HNB base rate on the fee charging date. 5 Fee is charged in case of paper-based statement and portfolio statement.

Unidentifiable incoming security transfers are returned by the Bank to the bank of the sender after 15 days of their receipt (if it falls on a weekend, then the next working day). Incoming securities transfer for which the related fee is not paid within 15 calendar day - from its arrival date - will be returned by the Bank to the sender bank. To transfer securities to the Bank, the 0303/000001 KELER code of K&H Bank and the exact data of the beneficiary must be given, in lack of which the Bank returns the transfer order to the forwarding party.

19/46



1.3.1 Fees of transfers Definition

Commission

Due

Intrabank transfer in HUF - Private individual customers 

in the branch

0,78% + 424 HUF max. 6.102 HUF

at placement

Interbank transfer in HUF - Private individual customers 

in the branch

0,74% + 548 HUF max. 10.170 HUF

at placement



via Call center

0,68% + 376 HUF max. 6.102 HUF

at placement

0,41% min 576 HUF

at placement

Interbank transfer in HUF - Corporate clients  in the branch Intrabank transfer in EUR - Private individual customers 

in the branch

0,36 % min. 4,1 EUR max. 101,7 EUR

at placement

Intrabank transfer in USD - Private individual customers  in the branch Intrabank transfer to own account (Private individual customers and Corporate clients) – via every channel Receipt of transfer to client account

0,36% min. 5,5 USD max. 150 USD

at placement -

Free of charge

-

Free of charge

Transfers from the client account may only be ordered to some other account (client account or payment account with a credit institution) to the name of the account holder. Taking into account the limited function of the client account, from 11 April 2016 on, the Bank will preliminarily check for every transfer or cash withdrawal order whether the amount comes from underlying investment service transactions. E-bank will only accept transfer orders to the client’s own payment accounts with the Bank, and that only if the amount to be transferred is not more than the client’s proceeds from investments service transactions. From the client account transfers in foreign currencies can be executed and received only intrabank, in the currency of the account. HUF transfer can be executed only inland. Private individual customers can execute their transfers in the branches, via e-bank and via Call center. Corporate clients can execute their transfers in the branches and via e-bank. The transfer orders can not be submitted to the bank through using boxes placed for orders in the branches. For HUF transfer order submission PFNY11 preprinted form, for foreign currency transfer orders the regular preprinted form of the bank shell be used. Commissions charged for transfers refer to both the spot date transfers and the value date ones. Value date transfers can be given for maximum 90 business days in the branches in advance. Transfers are executed only on condition that the amount and the fee of transfer placed in the transfer order are available on the client account. Lacking that, the Bank will not execute the transfer order. Tranfers in HUF from client account are executed via multiple intraday settlement. Bank will ensure that transfers carried out via GIRO Multiple Intraday Settlement Process will reach the Payments Service Provider of the Beneficiary Client within 4 hours of receiving the order.

20/46



1.3.2 Order fees Definition

Amount

Due

Stock exchange order fee on BÉT and BÉTA markets (as a % of market value)3 


1,0 %, min. 3.000 HUF



via e-bank

0,75% min. 1.500 HUF

at placement in case of buying / on execution in case of selling at placement in case of buying / on execution in case of selling

Settled in EUR stock exchange order fee (as a % of market value) 


1,0% min. 12 EUR



via e-bank

0,75% min 6 EUR


Stock exchange order fee on K&H Pension pre-savings account (as a % of market value)l 




via e-bank

Cancellation/modification of stock exchange order fee1 - via every channel Auction fee (as a % of market value)2 Auction fee on K&H Pension pre-savings account (as a % of market value)

After payment, no purchase fee charged on the amount paid4, in other cases 1,0 %, minimum 3.000 HUF After payment, no purchase fee charged on the amount paid4, in other cases 0,75 %, minimum 1.500 HUF

at placement in case of buying / on execution in case of selling -

at placement in case of buying / on execution in case of selling

Free of charge 0,15%, min. 2.000 HUF

at placement

Free of charge

Stock exchange order can only be placed as limit type orderstock exchange order can be executed by the Bank in parts. In case of stock exchange sell order the follow stock leading out can be chosen: FIFO: First In First Out LIFO: Last In First Out HIFO: High In First Out LOFO: Low In First Out Modification of these orders = cancellation of the previous order and placing a new one. 2 Auction orders can be placed until 10.00 a.m. on auction days. The minimum limit of the auction orders is HUF 1.000.000 nominal value. Auction orders can not be placed via CallCenter and e-bank. 1

3

Clients can not place orders in case of French shares.

4

The first buy order(s) after a deposit to a K&H Pension pre-savings account will be free of charge up to the amount of the deposit. For the purposes of exemption from the payment of commission, any and all orders and instructions relating to deposits will be taken into consideration, in the sequence of such orders and instructions.

21/46



1.3.3 Fee for physical delivery Definition Physical delivery of securities issued by a third party (% of par value)

Amount

Due

Fee charged by KELER/Issuer /company performing securities custody + 0,5 %

at placement

1.3.4 K&H 4000+ account package Persons entitled to the K&H 4000+ account management package: businesses that constitute related companies according to the act on corporate income tax and dividend tax; and organizations whose main name is the same as that of any related company as defined above (hereinafter referred to as company group or brand group). The K&H 4000+ account management package is available to company or brand groups who undertake in the group wage account service agreement to have retail bank accounts opened with K&H for at least 4,000 employees (including persons retired from the company), and to regularly transfer wages to those retail accounts via group wage transfer, or have regular pension payment onto the accounts. (The fact of current or former employment must be proven by the employer.) In the month when the contract with the employer is signed (and at the end of the first and second subsequent month) the Bank examines the number of retail employee accounts onto which wage or pension has been credited by the employer at least once. If the number of such accounts reaches 4000, all retail bank accounts related to that employer are re-classified into preferential account management. (For this purpose, a K&H retail bank account of the given client’s choice – as stipulated in the effective Announcement – is opened for a period of up to three months.) If this condition is met by the end of the second month from signing the group wage account, K&H does not examine compliance with this condition any more; the preferential conditions are automatically set upon the opening of new retail bank accounts. Definition

Commission

Sale, repurchase and switch commissions of the open-end investment fund

Free of charge

Placing an automatic investment transaction of buying and fee of executing an automatic investment transaction of buying Maintenance of securities and securities custody accounts, K&H Pension pre-savings account, 2011. Long-term investment account, 2012. Long-term investment account, 2013. Long term investment account, 2014. Long term investment account and 2015. Long term investment account

Free of charge

Fee for printing one-off account statements

Free of charge

Due -

Free of charge

-

Stock exchange order fee (as a % of market value) 


0,5 % min. 1.500 HUF



via e-bank

0,25% min. 500 HUF


Settled in EUR stock exchange order fee (as a % of market value) 


0,5% min. 6 EUR



via e-bank

0,25% min. 2 EUR


Stock exchange order fee on K&H Pension pre-savings account (as a % of market value) 22/46

Announcement on Investment services and securities dealing 




via e-bank

Effective as of November 21 2016 After payment, no fee charged on the at placement in case of buying amount paid, in other cases 0,5%, / on execution in case of minimum 1.500 HUF selling Free of charge

In the case of transaction not listed above, Bank uses the same fees and charges as stipulated in the effective Announcement. 1.3.5. Enhanced maintenance service of securities and client’s accounts As an enhanced service the Bank prepares the “K&H Investment Compass” booklet – maximum once a year – which is a written overview of client’s portfolio with advice on short- and long-term rearrangement of portfolio in light of client’s investment objectives, and presents it by the premium banking advisor. The portfolio consists of financial instruments, deposits, life insurance savings investments, the total assets of the client kept with K&H Bank Zrt. and K&H Biztosító Zrt. Conditions of the service: Service can be obtained by clients in a special agreement, whose risk category is at list “careful”, and are fit to other requirements of the Bank. These requirements can be obtained from the premium banking advisor. Fee of enhanced maintenance service: Definition

Amount

Due

Fee of enhanced maintenance service of securities and client’s accounts

750 HUF / quarterly

at the last weekend of each quarter

(above the quarterly maintenance fee of securities and client’s accounts)

Fee is debited on client’s account on the 15th day afterthe first calendar quarter succeeding the 30th day passed from the acceptance of “K&H Investment Compass” booklet.

1.4. Distribution hours on distribution days in the branches Distribution hours trading in government securities: Monday – Thursday: Friday:

8 am – 4 pm 8 am – 2 pm

Distribution hours trading in K&H open-ended investment coupons Fund K&H tőkevédett forint pénzpiaci alap K&H aranykosár alap

Distribution hours Monday – Friday 8 am – 4 pm

K&H kötvény alap

Monday – Friday Monday – Friday

8 am – 3 pm 8 am – 3 pm

K&H navigátor alap

Monday – Friday

8 am – 3 pm

K&H közép-európai részvény alap

Monday – Friday

8 am – 3 pm

K&H amerika alap (HUF and USD series)

Monday – Friday

8 am – 3 pm

K&H ázsia alap

Monday – Friday

8 am – 3 pm

K&H ingatlanpiaci alap

Monday – Friday

8 am – 3 pm

K&H öko alap

Monday – Friday

8 am – 3 pm

K&H unió alap (HUF and EUR series)

Monday – Friday

8 am – 3 pm

K&H válogatott 1. alap

Monday – Friday

8 am – 3 pm


Monday – Friday

8 am – 3 pm 23/46

Announcement on Investment services and securities dealing K&H válogatott 3. alap

Effective as of November 21 2016 Monday – Friday 8 am – 3 pm


Monday – Friday

8 am – 3 pm

K&H vagyonvédett portfolio - december alap

Monday – Friday

8 am – 3 pm

K&H feltörekvő piaci alap

Monday – Friday

8 am – 3 pm

K&H euró pénzpiaci alap

Monday – Friday

8 am – 4 pm

K&H tőkevédett dollár pénzpiaci alap K&H nyersanyag alap (HUF and USD series)

Monday – Friday Monday – Friday

8 am – 4 pm 8 am – 3 pm

K&H nemzetközi vegyes alap (EUR and USD series)

Monday – Friday

8 am – 3 pm

K&H megtakarítási cél – június alap

Monday – Friday

8 am – 3 pm

K&H megtakarítási cél – február alap

Monday – Friday

8 am – 3 pm

K&H vagyonvédett portfolió – augusztus alap

Monday – Friday

8 am – 3 pm

K&H megtakarítási cél – október alap

Monday – Friday

8 am – 3 pm

K&H euro megtakarítási cél – április alap

Monday – Friday

8 am – 3 pm

K&H vagyonvédett portfolió – április alap

Monday – Friday

8 am – 3 pm

K&H dollár megtakarítási cél – augusztus alap

Monday – Friday

8 am – 3 pm

K&H euró vagyonvédett portfolió – október alap

Monday – Friday

8 am – 3 pm

K&H állampapír alap

Monday – Friday

8 am – 3 pm

K&H rövid állampapír alap

Monday – Friday

8 am – 3 pm

K&H szikra abszolút hozamú alap K&H euró négyes származtatott alap (former K&H havifix euró 3.) K&H dollár négyes származtatott alap (former K&H dollár fix plusz 2. ) K&H likviditási elszámoló nyíltvégű alap (former K&H háromszor fizető 4.) K&H versenyképes Európa 2 nyíltvégű alap K&H tőkét részben előre fizető 3 nyíltvégű alap K&H háromszor fizető 14. nyíltvégű alap Effective as of October 17, 2016 K&H tőkét négy részletben fizető nyíltvégű alap

Monday – Friday 8 am – 3 pm Money-market period: Monday – Friday, 8 am – 4 pm Protected period: Monday – Friday, 8 am – till 11:00 am Money-market period: Monday – Friday, 8 am – 4 pm Protected period: Monday – Friday, 8 am – till 11:00 am Monday – Friday

8 am – 4 pm

Monday – Friday

8 am – 4 pm

Monday – Friday

8 am – 4 pm

Monday – Friday

8 am – 4 pm

Monday – Friday

8 am – 4 pm

The first day of the validity of orders given beyond trading hours shall be the first trading day after the order is given. The standard for closing time of distributing hours is in alignment with the closing time of the securities account system, therefore accepting orders is done automatically. Distribution hours for subscription investment coupons Fund K&H prémium többször termő dollár származtatott zártvégű alap K&H tartós befektetés 2021 alapok nyíltvégű befektetési alapja

Subscription period

Distribution hours

November 21, 2016 – December 30, 2016 November 21, 2016 – December 30, 2016

Monday - Friday 8 am – 4 pm Monday - Friday 8 am – 4 pm

The first day of the validity of subscription given beyond distribution hours shall be the first subscription day after the subscription is given. The standard for closing time of distributing hours is in alignment with the closing time of the securities account system, therefore accepting subscription is done automatically. Distribution hours in the branches– equity trading:

Monday-Thursday: during regular branch hours 24/46



Business hours for transfer from client account at branch-office – in intraday GIRO settlement: In case of spot date transfer In case of value date transfer

every banking day every day

8 am – 4 pm during regular branch hours

In case branch business hours are shorter than specified above, the distribution hours shall coincide with the branch opening hours.

1.5. Custody management and handling Securities deposits The safe custody and custody management of physical securities is performed free of charge as follows:



From January 21, 2008 the Bank will provide this service exclusively in respect of securities deposited earlier, thus, new deposits – including the replenishment of earlier deposits – may not be placed The above will not apply to securities managed as security deposits or collateral security for loans, thus, as they will continue to be accepted for safe custody by the Bank after January 21, 2008.

Other deposits Definition Sealed custody safekeeping fee* (41x30x31 cm or smaller packages) Sealed custody safekeeping fee* (for packages larger than above)

Amount

Due


*From December 05, 2008 the Bank will not receive new sealed custody for safekeeping and those ones which are under safekeeping will not be charged by the Bank from this date.

2. CallCenter K&H Bank offers private individual customers the following services through its CallCenter between 8 a.m. and 7 p.m. on weekdays:  General information provision:



-

On the Bank’s investment products and services

-

On the price of equities traded on the Budapest Stock Exchange

-

Ordering documents and information materials

-

Yields for the investment period

Up-to-date information on ongoing campaigns related to investment products Specific information provision to the account holders of the Bank who identify themselves Trading of stocks traded on the Budapest Stock Exchange Trading of K&H Assets Management’s open-end mutual funds managed in HUF Internal transfer order between securities accounts Launching a transfer from a customer account opened as linked to a securities account Capital account or securities account balance inquiry Inquiry about orders performed on securities accounts Requesting the investement modul of E-bank Request for the login name and password to be provided by the National Bank of Hungary for online balance query

Transfer orders given through the CallCenter to the debit of retail bank accounts and client account – related to the use of the investment services max. HUF 5,000,000 per day. The Bank will not conduct advisory activities through the CallCenter, only perform the orders received. Distribution hours for trading investment coupons through CallCenter: 25/46

Announcement on Investment services and securities dealing Orders accepted for same day validity*:


in case of investment coupon with T day settlement in case of investment coupon with T+x day settlement

Monday through Friday: Monday through Friday:

8 am - 4 pm 8 am - 3 pm

Orders accepted for next distribution day validity from Monday to Thursday after the distribution hours till 7 pm Information on yields calculated for the investment period:

Monday through Friday

8 am - 7 pm

*Orders placed after the distribution hours are valid from the next distribution day. Order accepted for same day validity if the financial cover is available on the client account during the distribution hours. Business hours for trading stocks through CallCenter: Orders accepted for the same day: Orders accepted for the next banking days

Monday through Friday: Monday through Friday:

8 am - 4:30 pm 8 pm - 7 pm

Business hours for transfer from client account through CallCenter – in intraday GIRO settlement: In case of spot date transfer every banking day 8 am – 4 pm In case of value date transfer every day 8 am – 7 pm Business hours for intrabank transfer through CallCenter: In case of spot date transfer every banking day In case of value date transfer every day

8 am – 5 pm 8 am – 7 pm

CallCenter’s availability through telephone 06 1 335-33-55 06 20 335-33-55 06 30 335-33-55 06 70 335-33-55

26/46



3. Corporate Client’s orders via telefax Service is only available if client signs contract of giving order via telephone and telefax. On a telephone exclusively purchase order can be given. Distributed securities: K&H tőkevédett forint pénzpiaci befektetési jegy K&H euró pénzpiaci befektetési jegy K&H tőkevédett dollár pénzpiaci befektetési jegy

Orders can be accepted for spot date till 14:00. If Bank receives orders beyond above mentioned time, the day of validity of orders shall be the first trading day after the order is given. 4. E-bank services and distribution hours Private individual clients using our e-bank service will be able to access the E-bank investment module automatically. Legal entities will need to specifically allow access to the investment module by a statement submitted in a branch. Accounts not available for free disposal may only be accessed by the executive officer. Types of orders via e-bank:  Sale, repurchase and switch orders of open end funds  standing order to buy investment fund  buy and sell orders of government bonds  buy and sell of shares  transfers to own account Available open and funds via E-bank K&H tőkevédett forint pénzpiaci alap

K&H euró pénzpiaci alap

K&H aranykosár alap

K&H tőkevédett dollár pénzpiaci alap

K&H kötvény alap

K&H nyersanyag alap (HUF and USD series)

K&H navigátor alap

K&H nemzetközi vegyes alap EUR and USD series)

K&H közép-európai részvény alap

K&H megtakarítási cél – június alap

K&H amerika alap (HUF and USD series)

K&H megtakarítási cél – február alap

K&H ázsia alap

K&H vagyonvédett portfolió – augusztus alap

K&H ingatlanpiaci részvény alap

K&H megtakarítási cél – október alap

K&H öko alap

K&H euro megtakarítási cél – április alap

K&H unió alap (HUF és EUR sorozat)

K&H vagyonvédett portfolió – április alap


K&H állampapír alap


K&H rövid állampapír alap


KBC Bonds Corporates USD


KBC Bonds Corporates EUR

K&H vagyonvédett portfolió – december alap

K&H dollár megtakarítási cél – augusztus alap

K&H feltörekvő piaci alap

K&H euró vagyonvédett portfolió – október alap

Distribution hours of government securities and K&H open-ended investment coupons in e-bank: Same as the distribution hours in the branches.

27/46



Trading stocks through e-bank: Bank receives the selling / buying orders of stocks continuously and transfers them on the same day subject to the free trading period of Stock Exchange, while orders given thereafter should be transferred to the trading system on the next business day of the Stock Exchange. Business hours for intrabank transfer to own account through e-bank: In case of spot date transfer every banking day In case of value date transfer every day

0 am – 5 pm continuous

5. Commissions received from third parties We hereby inform our clients that our Bank, as a distributor, receives distribution fees and commissions from third parties.

Commissions received from K&H Asset Managemet Open –ended investment funds 

distribution fees maximum 2.1 % per annum

Closed-ended investment funds 

a maximum single fee of 4.15 %



at termination/transformation maximum single fee of 0,6%

K&H investment funds converted from closed-ended funds (K&H euro négyes származtatott alap and K&H dollar négyes származtatott alap) 

at the start of the protected period maximum single fee of 3.6%



at the end of the protected period maximum single fee of 0.6%



other fee in the open-ended period maximum 1.0%

Deposit handling fee 

As the depository of the funds, the Bank is entitled to receive a deposit handling fee, which maximum 0,8%.

Commissions received from KBC Asset Management 

distribution fees maximum 0.96 % per annum for KBC Funds

You can find detailed information about the applied fee rates, reference base, calculation method and conditions in the respective investment funds’ management regulation, which you can find at the branches and on the Bank’s home page.

Commissions received from Államadósság Kezelő Központ Zrt. (National Debt Managemet Centre Plc.) Under the agreement made with Államadósság Kezelő Központ Zrt. (National Debt Management Centre Plc.), the Bank, as the primary distributor, is entitled to the following commissions: 

1 % of the nominal value of performed subscriptions related to Kamatozó Kincstárjegyek (Interestbearing Treasury Bills) subscriptions,



0,5% of the nominal value of performed subscriptions related to Féléves Kamatozó Kincstárjegy (Half-year Interes-bearing Treasury Bills), and



a variable rate commission depending on the quantity and the tenor related to selling Government Bonds through auctions. 28/46



Commissions received from KBC Securities Magyarországi Fióktelepe The Bank as the mandatory of KBC Securities Magyarországi Fióktelepe is entitled to the following commissions after the transmitted and performed (fulfilled) orders: 

5000 HUF basic fee after all mediated clients



futhermore percentage from the net turnover commission which was generated by mediated clients within 48 months from contract signing: • period 0-12 months: 40% of turnover commission • period 13-24 months: 30% of turnover commission • period 25-36 months: 20% of turnover commission • period 37-48 months: 10% of turnover commission



5000 HUF basic fee after clients mediated through acquisition program



no commision for Bank after turnover by clients mediated through acquisition program

29/46



6. Investments - K&H dual currency investments 6.1 K&H dual currency investments Currency of repayment

Currency of investment (primary currency)

(primary or secondary currency)

EUR

EUR or HUF

1 month

3 months

USD

USD or HUF

1 month

3 months

HUF

HUF or EUR, USD

1 month

3 months

Terms of investment

Minimum investment amount: EUR 20,000 or the equivalent USD, HUF amount. The Bank reserves the right to limit the terms and amount of investments. The K&H dual currency investment may be fixed as individual deal also in the currency and term negotiated with the Bank and with the conditions stipulated in Appendix 8.

6.2 K&H dual currency Tower Investment This is an investment where the achievable interest and the repayment currency of the principal are both subject to certain conditions. The interest rate applicable to the investment is a function of the change in the inter-bank market cross rate of two particular currencies: if this rate remains within the band defined at the time of fixing the deposit or reaches / does not reach the defined exchange rate during the term of the deposit, the special interest rate stipulated in the contract becomes applicable; however, if the exchange rate leaves the band at least once, or does not / does reach the defined exchange rate, the Bank will pay the minimum interest for the investment upon maturity. The repayment currency of the fixed principal is a function of the inter-bank market interest rate valid on the second working day prior to maturity date. If the conversion condition is met, the Client will receive the invested principal in the auxiliary currency. Interest payment always takes place in the base currency. The interest payment takes place in a lump sum at the end of the investment period. 6.3 K&H exchange-rate-indexed dual currency investment (range accrual investment) This is an instrument where the achievable interest and the repayment currency of the principal both depend on some conditions. The interest rate applicable for the investment is a function of the change in the daily official cross rate of two particular currencies: if, on a given day, this rate is within the band defined at the time of fixing the deposit (or does not reach the defined exchange rate), the special interest rate stipulated in the contract becomes applicable, however, if it is outside the band (or does reach the defined exchange rate), the Bank will pay the minimum interest for the investment on the given day. The repayment currency of the fixed principal is a function of the inter-bank market interest rate valid on the second working day prior to maturity date. If the conversion condition is met, the Client will receive the invested principal in the auxiliary currency. Interest payment always takes place in the base currency. Interest payment takes place in a lump sum at the end of the investment period. Structured investments described in 6.2 and 6.3 may be fixed as individual deals with the conditions stipulated in Appendix 8. For the current offers, interests and other investment conditions of K&H dual currency investments, please consult the specialists at our branches. A detailed description of the products and related risks is available in the K&H Treasury Market Risk Management Manual and the relevant Contract.

Condition of K&H dual currency investments: availability of bank accounts in the primary and secondary currency stipulated in the contract along with the amount to invest provided by the Client latest on the day of deposit fixing. In case the amount is not present for investment the Bank reserves the right to wind up the structured deal and debit the justifiable cost of termination onto the bank account of the Client. The K&H dual currency investments cannot be terminated by the Client before the contractual repayment date. The interest calculation method of the investment, the starting and closing dates of the interest period, and the detailed stipulations are included in the releted Contracts. 30/46



The settlement transactions of K&H dual currency investment, from and to bank accounts, deposit accounts (in primary or secondary currency) are free of charge. Orders for K&H dual currency investment are accepted - on banking days – on Monday, Tuesday, Wednesday, Thursday from 10:00 till 16:00, on Friday from 10:00 till 15:00. The Bank may suspend the offer for business-related reasons, due to a foreign currency holiday, or due to adverse market circumstances. K&H dual currency investment is neither guarantied by BEVA nor by OBA. The risk classification of the product is shown in Annex 4. Place of performance: OTC In adherence to the legal regulations, the Bank does not deduct the tax payable on the income derived from supervised capital market deals; as such income must be reported and paid by private individuals themselves, in their personal income tax return. The dual currency investment products are considered to be supervised capital market deals.

31/46


Effective as of November 21 2016 Appendix 1

Announcement on the calculation of the EHM index

Uniform Securities Yield Index (EHM) Pursuant to Government Decree 82/2010. (III.25.), debt securities must be supplied with a “Uniform Securities Yield Index”, referred to with its Hungarian abbreviation as EHM, provided that the issuer has determined the interest on the security for the full term outstanding. The Bank calculates the EHM index using the following formulas stipulated in the Decree: If the term remaining until maturity is less than 365 days: n

k  tt i

i 1

1  r  (ti / 365)

Selling price  

If the term remaining until maturity is at least 365 days: n

Selling price   i 1

k  tt i (1  r )(ti / 365)

where n: number of interest payments, r: one hundredth of the EHM index, ti: number of days outstanding as calculated from the date of purchase to the i th payment, (k+tt)i: the sum of the ith interest payment plus the principal repayment.

32/46



Appendix 2

Information from the Dataware-house

K&H Bank - for unified registering customer related data and further business purposes - stores personal data of retail customers (personal and business ID) and firm data of corporate customers in a central register, the so-called Data-warehouse. • The register ranges all customers having an active or terminated contract with the Bank. • The register is available only for the entitled staff members of the Bank. • The Bank is bound to retain all data in an archive form for the determined retention period according to the Act CXII of 1996 “On Credit Institutions and Financial Enterprises”.

33/46



Appendix 3 K&H Bank Group

Referring to the regarding section of the General terms and conditions for investment and complementary investment services provided by K&H Bank Nyrt and the Securities, Securities Custody and Customer Account Agreement the members of K&H Bank group are as below: K&H Alkusz Kft Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Csoportszolgáltató Kft Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Befektetési Alapkezelő Zártkörűen működő Részvénytársaság Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Equities Zártkörűen működő Részvénytársaság Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Eszközlízing Kft Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Lízingház Zártkörűen működő Részvénytársaság v.a Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Autópark Kft Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Ingatlanlízing Zártkörűen működő Részvénytársaság Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Faktor Zártkörűen működő Részvénytársaság Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Biztosító Zártkörűen működő Részvénytársaság Head office: 1095 Budapest, Lechner Ödön fasor 9. K&H Lízing Zártkörűen működő Részvénytársaság Head office: 1095 Budapest, Lechner Ödön fasor 9.

Information about sub-Custodian bank The Client’s securities are stored in vault other than the Bank’s, or - in case of dematerialised securities - registered no by the Bank, the services of a third party (sub-custodian) can be used.

     

KELER Zrt. KBC Bank NV. Clearstream Banking S.A KBC Securities NV. KBL European Private Bankers S.A. Raiffeisen Zentralbank Österreich AG

34/46



Appendix 4 Product risk categories

Product

Currency

Risk score

Risk profile

Complexity

Government bonds HUF and MNB bonds with 3 years (1095 day) or shorter remaining maturity Government bonds HUF and MNB bonds 3 years longer and 10 years with shorter remaining maturity

HUF

2

defensive

no complex

HUF

3

defensive

no complex

Treasury bills

HUF

2

defensive

no complex

Discount treasury bills

HUF

2

defensive

no complex

Government bonds HUF with longer then 10 years remaining maturity

HUF

4

dynamic

no complex

EUR

3

defensive

no complex

EUR

4

dynamic

no complex

EUR

5

dynamic

no complex

USD

5

dynamic

no complex

USD

5

dynamic

no complex

USD

5

dynamic

no complex

USD

6

very dynamic

no complex

USD

6

very dynamic

no complex

USD

7

very dynamic

no complex

GBP

5

dynamic

no complex

GBP

5

dynamic

no complex

GBP

5

dynamic

no complex

GBP

6

very dynamic

no complex

GBP

6

very dynamic

no complex

GBP

7

very dynamic

no complex

K&H 2022 kötvény

HUF

3

defensive

no complex

K&H 10 éves kötvény

HUF

3

defensive

no complex

3

defensive

complex complex

Product lines

Government securities

Government bonds EUR with shorter then 3 years remaining maturity Government bonds EUR with 3 years longer end 10 years shorter remaining maturity government bonds EUR with longer then 10 years remaining maturity government bonds USD with shorter then 1 years remaining maturity government bonds USD with 1 year longer and 3 years shorter remaining maturit government bonds USD with 3 years longer and 5 years shorter remaining maturity government bonds USD with 5 years longer and 7 years shorter remaining maturity government bonds USD with 7 years longer and 10 years shorter remaining maturity government bonds USD with longer then 10 years remaining maturity government bonds GBP with shorter then 1 years remaining maturity government bonds GBP with 1 year longer and 3 years shorter remaining maturity government bonds GBP with 3 years longer and 5 years shorter remaining maturity government bonds GBP with 5 years longer and 7 years shorter remaining maturity government bonds GBP with 7 years longer and 10 years shorter remaining maturity government bonds GBP with longer then 10 years remaining maturity

Erős Líra 2 kötvény Corporate bonds

HUF

Erős NOK kötvény

HUF

2

defensive

FHB jelzáloglevelek

HUF

7

very dynamic

no complex

MOL 2015 (EURMOL 0515)

EUR

7

very dynamic

no complex

OTP 2016 (OTP 5,27)

EUR

7

very dynamic

no complex

35/46



OTP 2015

EUR

7

very dynamic

no complex

MOL 2017

EUR

7

very dynamic

no complex

shares introduced onto the Budapest stock exchange

HUF

7

very dynamic

no complex

shares introduced onto the Budapest stock exchange

EUR

7

very dynamic

no complex

K&H tőkevédett forint pénzpiaci befektetési jegy

HUF

1

very defensive

no complex

K&H likviditási elszámoló befektetési jegy

HUF

1

very defensive

no complex

K&H tőkevédett dollár pénzpiaci befektetési jegy

USD

5

dynamic

no complex

K&H euró pénzpiaci befektetési jegy

EUR

4

dynamic

no complex

K&H állampapír befektetési jegy

HUF

2

defensive

no complex

K&H rövid állampapír befektetési jegy

HUF

2

defensive

no complex

K&H aranykosár befektetési jegy

HUF

2

defensive

no complex

K&H kötvény befektetési jegy

HUF

3

defensive

no complex

K&H tartós befektetés 2021 befektetési jegy

HUF

3

defensive

no complex

KBC Bonds Corporates USD

USD

4

dynamic

no complex

KBC Bonds Corporates EUR

EUR

4

dynamic

no complex

K&H unió befektetési jegy HUF sorozat

HUF

4

dynamic

no complex

K&H unió befektetési jegy EUR sorozat

EUR

6

very dynamic

no complex

K&H ingatlanpiaci részvény befektetési jegy

HUF

6

very dynamic

no complex

K&H navigátor indexkövető befektetési jegy

HUF

6

very dynamic

no complex

K&H amerika befektetési jegy HUF sorozat

HUF

4

dynamic

no complex

K&H amerika befektetési jegy USD sorozat

USD

5

dynamic

no complex

K&H közép-európai részvény befektetési jegy

HUF

6

very dynamic

no complex

K&H öko befektetési jegy

HUF

6

very dynamic

no complex

K&H ázsia befektetési jegy

HUF

6

very dynamic

no complex

K&H feltörekvő piaci befektetési jegy

HUF

6

very dynamic

no complex

K&H válogatott 1. befektetési jegy

HUF

2

defensive

no complex


HUF

3

defensive

no complex


HUF

4

dynamic

no complex


HUF

4

dynamic

no complex

K&H vagyonvédett portfolió - december befektetési jegy

HUF

3

defensive

no complex

K&H vagyonvédett portfolió - augusztus befektetési jegy

HUF

3

defensive

no complex

K&H megtakarítási cél - június befektetési jegy

HUF

3

defensive

no complex

K&H megtakarítási cél - október befektetési jegy

HUF

3

defensive

no complex

K&H megtakarítási cél - február befektetési jegy

HUF

3

defensive

no complex

K&H euró megtakarítási cél – április befektetési jegy

EUR

4

dynamic

no complex

K&H vagyonvédett portfolió – április befektetési jegy

HUF

3

defensive

no complex

K&H dollár megtakarítási cél – augusztus befektetési jegy

USD

5

dynamic

no complex

Shares

Open-end money market funds

Open-end bond funds

Open-end shares fund

Open-end select funds

CPPI open-end funds

36/46


Open-end derivative funds

Other open-end funds

Absolute return funds

Closed-end funds


K&H euró vagyonvédett portfolió – október befektetési jegy

EUR

4

dynamic

no complex

K&H euró négyes befektetési jegy

EUR

5

dynamic

no complex

K&H dollár négyes befektetési jegy K&H nemzetközi vegyes alap befektetési jegy EUR sorozat K&H nemzetközi vegyes alap befektetési jegy USD sorozat

USD

4

dynamic

no complex

EUR USD

4 4

dynamic dynamic

no complex no complex

K&H nyersanyag befektetési jegy HUF sorozat

HUF

5

dynamic

no complex

K&H nyersanyag befektetési jegy USD sorozat

USD

6

very dynamic

no complex

K&H tőkét részben előre fizető 3 befektetési jegy

HUF

2

defensive

no complex

K&H versenyképes Euróoa 2 befektetési jegy

HUF

3

defensive

no complex

K&H háromszor fizető 14. befektetési jegy

HUF

4

dynamic

no complex

K&H tőkét négy részletben fizető befektetési jegy

HUF

4

dynamic

no complex

K&H szikra abszolút hozamú befektetési jegy

HUF

5

dynamic

no complex

K&H Temze befektetési jegy

HUF

3

defensive

no complex

K&H Temze tőkevédett befektetési jegy

HUF

2

defensive

no complex

K&H tőkét részben előre fizető 4. befektetési jegy K&H tőkét részben előre fizető 2. befektetési jegy

HUF

2

defensive

no complex

HUF

3

defensive

no complex

K&H tőkét négy részletben fizető 2. befektetési jegy

HUF

3

defensive

no complex

K&H fix plusz világcégek 2. befektetési jegy

HUF

3

defensive

no complex

K&H fix plusz világcégek 3. befektetési jegy

HUF

3

defensive

no complex

K&H többször termő befektetési jegy

HUF

3

defensive

no complex

K&H többször termő 2. befektetési jegy

HUF

3

defensive

no complex

K&H hozamlépcső befektetési jegy

HUF

3

defensive

no complex

K&H tőkevédett innovatív Amerika befektetési jegy

HUF

2

defensive

no complex

K&H többször termő 3. befektetési jegy

HUF

3

defensive

no complex

K&H világcégek tőkevédett befektetési jegy

HUF

3

defensive

no complex

K&H világcégek tőkevédett 2 befektetési jegy

HUF

3

defensive

no complex

K&H négyszer fizető euró 2. befektetési jegy

EUR

5

dynamic

no complex

K&H növekedés plusz 2. befektetési jegy

HUF

4

dynamic

no complex

K&H euró plusz 2. befektetési jegy

EUR

5

dynamic

no complex

K&H kettős kosár 2 befektetési jegy

HUF

4

dynamic

no complex

K&H innovatív Amerika befektetési jegy

HUF

3

defensive

no complex

K&H hozamlépcső 2 befektetési jegy

HUF

3

defensive

no complex

K&H fellendülő Európa tőkevédett befektetési jegy

HUF

2

defensive

no complex

K&H többször termő 4 befektetési jegy

HUF

3

defensive

no complex

K&H aktív pihenés tőkevédett befektetési jegy

HUF

3

defensive

no complex

K&H kettős kosár 3 tőkevédett befektetési jegy

HUF

3

defensive

no complex

K&H többször termő 5 befektetési jegy

HUF

2

defensive

no complex

K&H autóipari tőkevédett befektetési jegy

HUF

2

defensive

no complex

K&H Amerika – Európa befektetési jegy

HUF

3

defensive

no complex

37/46

Announcement on Investment services and securities dealing K&H Amerika – Európa 2 befektetési jegy

Structured investments

Effective as of November 21 2016 HUF 3 defensive

no complex

K&H változó Ázsia befektetési jegy

HUF

3

defensive

no complex

K&H erős Amerika befektetési jegy

HUF

3

defensive

no complex

K&H olajipari befektetési jegy

HUF

3

defensive


K&H világcégek 2016 befektetési jegy

HUF

3

defensive

K&H világcégek 4 befektetési jegy

HUF

3

defensive

no complex

K&H európai körverseny befektetési jegy

HUF

3

defensive

no complex

K&H jövő autói befektetési jegy

HUF

3

defensive

no complex

K&H szakaszos hozamú 7 befektetési jegy

HUF

3

defensive

no complex

K&H rugalmas befektetési jegy

HUF

4

dynamic

no complex

K&H gyógyszeripari 2 befektetési jegy

HUF

3

defensive

no complex

K&H prémium fogyasztói javak tőkevédett befektetési jegy

HUF

2

defensive

no complex

K&H prémium világcégek 5 befektetési jegy

HUF

3

defensive

no complex

K&H prémium világcégek 6. befektetési jegy

HUF

3

defensive

no complex

K&H prémium élelmiszeripari befektetési jegy

HUF

3

defensive

no complex

K&H prémium európai exportőrök befektetési jegy

HUF

3

defensive

no complex

K&H prémium gyógyszeripari 3 befektetési jegy

HUF

4

dynamic

no complex


HUF

3

defensive

no complex

K&H prémium gyermekközpontú befektetési jegy

HUF

3

defensive

no complex


HUF

3

defensive

no complex

K&H prémium gondoskodás befektetési jegy

HUF

3

defensive

no complex

K&H privátbanki olajipari rugalmas befektetési jegy

HUF

6

very dynamic

no complex

K&H prémium rangadó befektetési jegy

HUF

3

defensive

no complex

K&H prémium gyógyszer- és világcégek befektetési jegy

HUF

3

defensive

no complex


HUF

4

dynamic

no complex


HUF

3

defensive



HUF

3

defensive

K&H prémium információbiztonság befektetési jegy

HUF

3

defensive

no complex

K&H prémium többször termő dollár befektetési jegy

USD

4

dynamic

no complex

K&H mozdulj! tőkevédett befektetési jegy

HUF

4

dynamic

no complex

Toronybetét

HUF

2

defensive

complex

Árfolyam-indexált betét

HUF

2

defensive

complex

Toronybetét

EUR

3

defensive

complex

Toronybetét

USD

5

dynamic

complex

Árfolyam-indexált betét

foreign exchange

5

dynamic

complex

Kétdevizás befektetés

in all currency

5

dynamic

complex

Kétdevizás torony befektetés

in all currenc

5

dynamic

complex

38/46

Announcement on Investment services and securities dealing Árfolyamindexált kétdevizás befektetés

Effective as of November 21 2016 in all 5 dynamic currenc

VERY DEFENSIVE: the products ensure a well-balanced return, however, in the long run the annual average amount of return tends to be moderate. Thus, investors realise a low return, at the same time, they only bear a minor risk – the probability of loss is marginal and performance shows low or zero fluctuation. DEFENSIVE: the higher yield that may be realised on these products is accompanied by a somewhat higher risk: the probability of a loss is higher, but the fluctuation in performance is still limited. DYNAMIC: the relatively high return on these products is coupled by a relatively high risk: both the probability of incurring a loss and the fluctuation of performance are rather high. VERY DYNAMIC: there are volatile fluctuations in the yields of these products in the short run, however, they may reach a high value on the annual average in the long run. Thus, both the return and the risk may be excessive: the probability of incurring a loss is high and the fluctuation in performance is also considerable.

39/46

complex



Appendix 5 Insurance product risk categories

LIFE INSURANCE PRODUCTS

K&H maximum life insurance

K&H hozamlánc,K&H hozamlánc 2, K&H prémium, K&H nyugdíjbiztosítások, K&H családfa, K&H jövőkép, K&H hozamhalmozó life insurances (openend funds)

CURRENCY OF THE INSURANCE FUND

RISK SCORE

K&H maximum kötvény

HUF

2

defensive

non complex

K&H válogatott 2

HUF

3

defensive

non complex

K&H maximum észak-amerikai részvény

HUF

6

very dynamic

non complex

K&H maximum európai részvény

HUF

4

dynamic

non complex

K&H maximum ázsia részvény

HUF

5

very dynamic

non complex

K&H maximum ingatlanpiaci

HUF

6

very dynamic

non complex

K&H válogatott 4

HUF

4

dynamic

non complex

K&H maximum magyar részvény

HUF

5

dynamic

non complex

K&H tőkevédett pénzpiaci

HUF

1

very defensive

non complex

K&H tőkevédett elszámoló pénzpiaci

HUF

1

very defensive

non complex

K&H euró pénzpiaci

EUR

3

defensive

non complex

K&H euró elszámoló pénzpiaci

EUR

3

defensive

non complex

K&H aranykosár

HUF

2

defensive

non complex

K&H 95% árfolyamvédett portfólió vegyes

HUF

4

dynamic

non complex

K&H euró nemzetközi vegyes

EUR

4

dynamic

non complex

K&H euró unió részvény

EUR

5

dynamic

non complex

K&H ázsia részvény

HUF

6

very dynamic

non complex

K&H unió részvény

HUF

4

dynamic

non complex

K&H feltörekvő piaci részvény

HUF

6

very dynamic

non complex

K&H aktívan kezelt vegyes portfólió

HUF

2

defensive

non complex

K&H válogatott 1 vegyes

HUF

3

defensive

non complex


HUF

3

defensive

non complex


HUF

4

dynamic

non complex


HUF

4

dynamic

non complex

HUF

3

defensive

non complex

HUF

3

defensive

non complex

HUF

4

dynamic

non complex

HUF

3

defensive

non complex

LIFE INSURANCE FUND

K&H 95% árf.védett portfólió április vegyes K&H 95% árf.védett portfólió augusztus vegyes K&H 95% árf.védett portfólió december vegyes K&H megtakarítási cél február vegyes

RISK PROFILE

COMPLEXITY

40/46


K&H hozamlánc, K&H hozamlánc 2, K&H prémium és K&H nyugdíjbiztosítások insurances (closed-end funds)


K&H megtakarítási cél június vegyes

HUF

3

defensive

non complex

K&H megtakarítási cél október vegyes

HUF

3

defensive

non complex

K&H tervezhetõ egyensúly

HUF

3

defensive

non complex

K&H megtakarítási cél egyensúly

HUF

3

defensive

non complex

K&H tervezhetõ egyensúly adójóváírás

HUF

3

defensive

non complex

K&H tőkevédett gyógyszeripari

HUF

2

defensive

non complex

K&H tőkevédett gyógyszeripari 2

HUF

2

defensive

non complex

K&H gyógyszeripari 3

HUF

2

defensive

non complex

K&H szivárvány 2

HUF

4

dynamic

non complex

K&H szivárvány 3

HUF

4

dynamic

non complex

K&H euró hozamkettős

EUR

4

dynamic

non complex

K&H hozamkettős

HUF

3

defensive

non complex

K&H hozamkettős 2

HUF

3

defensive

non complex

K&H hozamkettős 3

HUF

3

defensive

non complex

K&H hozamkettős 4

HUF

3

defensive

non complex

K&H időfelező hozamkettős

HUF

3

defensive

non complex

K&H időfelező hozamkettős 2

HUF

3

defensive

non complex

K&H Brazília 2016

HUF

3

defensive

non complex

K&H tőkevédett gyógyszeripari 3

HUF

3

defensive

non complex

K&H hozamkettős 6-3-6-2 tőkevédett

HUF

3

defensive

non complex

K&H évindító hozamkettős tőkevédett

HUF

3

defensive

non complex

K&H szivárvány 4 tőkevédett

HUF

3

defensive

non complex

K&H hozamvisszhang tőkevédett

HUF

3

defensive

non complex

K&H hozamhármas 1 tőkevédett

HUF

3

defensive

non complex

K&H éves csúcsok tőkevédett

HUF

3

defensive

non complex

K&H hozamhármas 2 tőkevédett

HUF

3

defensive

non complex

K&H erős Amerika tőkevédett

HUF

3

defensive

non complex

K&H a teljes életért tőkevédett

HUF

3

defensive

non complex

K&H európai körverseny tőkevédett

HUF

3

defensive

non complex

K&H olajipari tőkevédett

HUF

3

defensive

non complex

K&H világcégek

HUF

3

defensive

non complex

K&H prémium e-kereskedelem tőkevédett

HUF

3

defensive

non complex

K&H prémium ásványi anyagok

HUF

4

dynamic

complex

K&H prémium vezető világcégek

HUF

3

defensive

non complex

K&H prémium európai exportőrök tőkevédett

HUF

3

defensive

non complex 41/46



K&H prémium modern otthon tőkevédett

HUF

3

defensive

non complex

K&H prémium erős cseh korona

HUF

2

defensive

complex

K&H prémium világcégek 2

HUF

3

defensive

non complex

K&H prémium világcégek 3

HUF

3

defensive

non complex

K&H prémium gyógyszeripari és világcégek

HUF

defensive

no complex

K&H optimum, K&H gyarapodó, K&H Insurances (not unit biztos útravaló 1-2 linked) K&H hozambiztos

3

HUF

1

very defensive

non complex

HUF

1

very defensive

non complex

42/46



Appendix 6 Applicable tax regulations Taxation of the return on investments is governed by the effective Act CXVII of 1995 on Personal Income Tax (hereinafter: Income Tax Law). Pursuant to the Income Tax Law, the Bank as payer is obliged to deduct an interest tax from the interest yield on the investments of its private individual clients, and a price gain tax from the income realised as a price gain – plus a health contribution in accordance with, or in the absence of, as statement made by the private individual. At the same time, in adherence to the legal regulations, the Bank does not deduct the tax payable on the income derived from verified capital market transactions; as such income must be reported and paid by private individuals themselves, in their personal income tax return. Pursuant to Act LXVI of 1998, the Bank, as the disbursing party, shall deduct health care contribution from the interest income – as defined in Section 65 of the Act on Personal Income Tax - earned on the investments/deposits of retail clients, without examining – as per Section (8a) of Article 11 of the Act on Eligibility for Social Security Benefits and Private Pension Schemes and the Funding for these Services (Tbj.tv) – whether or not such clients are residents. If a private citizen is not obliged to pay health care contribution, they may initiate the reimbursement of the contribution deducted from them through the procedure described in Section 5 of Appendix 4 of the Act on Taxation.

43/46



Appendix 7 Products insured by the National Deposit Insurance Fund (OBA)

1.

Client notice on the deposits insured by the National Deposit Insurance Fund (OBA)

In accordance with Articles 97-107 of Act No CXII of 1996 on credit institutions and financial enterprises, the Board of Directors of OBA has instructed its member institutions to make a uniform client notice drafted by OBA available to their clients from 1 February 2011. The Client Notice, in addition to the general rules of OBA, provides clients with information on the deposits registered at a given bank under the name of its clients and insured by OBA as well as on the financial instruments issued and managed by the bank. This is to inform you that, in response to client request, K&H Bank will make the Client Notice on OBA deposits available during working hours, in which clients are informed about the current amount of deposits registered under their names and insured by OBA, current account and savings accounts and – of financial instruments – the bonds issued and managed by K&H Bank.

2.

Investment products insured by the National Deposit Insurance Fund (OBA) Bond K&H 10 éves kötvény K&H 2022 kötvény

Maturity date 2021.12.29 2022.04.19.

44/46



Appendix 8

Individual pricing of bonds and K&H dual currency investments

Special quotation can be asked in case of secondary distribution of bonds above 25 million HUF or other currency amount equivalent to the HUF amount. In case of dual currency investments and combinated dual currency investments may be placed in the currency and with the maturity period as agreed with the Bank, as stipulated in a special agreement. Minimum amount to be invested in case of dual individually priced currency investment: EUR 50.000, or USD 50.000 or HUF 15 million or other currency amount equivalent to this amount. Minimum amount to be invested in case of individually priced K&H dual currency Tower Investment and K&H exchange-rateindexed dual currency investment (combinated dual currency investments): 25 million HUF or other currency amount equivalent to the HUF amount. During the sales the Bank offers prices according to the present external market situations and the K&H bank’s position. The pricing depends on the following aspects:             

the amount and duration of the deal the total invested money of the clients in the Bank the bank’s risk taking willingness the complexity of the deal the workload of the deal in the Bank. present yields and interest rates on the market present option pricing and its volatility on the derivative market present currency rates on the currency market the Bank’s liquidity the Bank’s position in deposits and loan products the Bank’s position in currency deals and options the bank’s position in other derivative markets money market interest rate and government bond yield potentials

In exceptional cases –for example taking into account the characteristics of the customer relationship, with the aim of acquisition or protecting competitiveness- the bank can offer special price below the minimum amount.

45/46



Annex 9

General conditions for disposal rights over the services and securities accounts available under a framework agreement

Securities account and client account management is a service available to both private individuals and legal entities under a framework agreement. The right of disposal over securities accounts of private individuals granted to the account holders and their authorised representatives is a client level, general right of disposal over the securities account. The right of disposal extends to all securities and client accounts of the account holder and covers the transactions executed on them as stated below: Authorised transaction / Channel

Securities transaction

Cash transaction

Transfer order

K&H branch







K&H e-bank*



–





 –



 K&H Telecenter*

 * this channel can only be accessed by the account holder

The right of disposal of parties authorised to have access to the securities accounts of legal entities extends to all securities and client accounts and covers the transactions executed on them as stated below: Authorised transaction / Channel

Securities transaction

Cash transaction

Transfer order

K&H branch







K&H e-bank



–





46/46

Announcement. on Investment services and Securities dealing of PRIVATE INDIVIDUAL CUSTOMERS and corporate clients EFFECTIVE AS OF NOVEMBER 21, 2016

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