COMMERZBANK AKTIENGESELLSCHAFT

(3) it has complied and will comply with all applicable provisions of the FSMA with respect
to anything done by it in relation to any Notes in, from or otherwise involving the United
Kingdom.
4 Switzerland
Unless explicitly stated otherwise in the relevant Final Terms, the Notes will not be publicly
offered in Switzerland, as such term is defined or interpreted under the Swiss Code of
Obligations and under the Swiss Collective Investment Schemes Act. The Programme does
therefore neither constitute an issuance prospectus in the sense of article 652a or 1156 of the
Swiss Code of Obligations nor a simplified prospectus in the sense of article 5 of the Swiss
Collective Investment Schemes Act. The Notes do not constitute a participation in a collective
investment scheme nor do they constitute structured products in the meaning of the Swiss
Collective Investment Schemes Act. The Notes are neither subject to approval nor supervision
by the Swiss Financial Market Supervisory Authority FINMA. Accordingly, holders of the Notes
do not benefit from protection under the Swiss Collective Investment Schemes Act or
supervision by the Swiss Financial Market Supervisory Authority FINMA
5 General
Each dealer has acknowledged that no representation is made by any of the Issuers or any
dealer that any action has been or will be taken in any jurisdiction by the Issuer or any dealer
that would permit a public offering of the Notes, or possession or distribution of the Prospectus
or any other offering material, in any country or jurisdiction where action for that purpose is
required. Each dealer will (to the best of its knowledge after due and careful enquiry) comply
with all applicable securities laws and regulations in each jurisdiction in which it purchases,
offers, sells or delivers Notes or has in its possession or distributes the Prospectus or any
other offering material, in all cases at its own expense.
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