Risk Disclosure

Trading stocks, futures, ETFs, and other financial instruments involves significant risk, including the possible loss of the entire amount invested. Markets can move against your position at any time. Past performance of any asset or trading strategy does not guarantee future results.

Several assets tracked by HarborSignal (CL, NG, HO, RB, BZ, ZC, ZS) are futures contracts. Futures trading involves leverage, which means losses can exceed your initial deposit. Futures are not suitable for all investors. You should fully understand the mechanics of futures contracts, margin requirements, and rollover costs before trading them.

ETF alternatives (USO, UNG, SOYB, etc.) also carry risks including tracking error, contango losses in rolling futures strategies, and liquidity risk.

HarborSignal's trading signals are generated by artificial intelligence analyzing maritime vessel traffic patterns. These signals:

• Are based on historical correlations that may not persist in the future.
• Do not account for company-specific fundamentals, earnings, or management changes.
• Do not account for geopolitical events, regulatory changes, or black swan events.
• May be based on incomplete, delayed, or inaccurate vessel data.
• Have not been independently audited or validated by any financial regulator.
• Are generated by software and have not been reviewed by a licensed financial analyst.

Vessel position data is sourced from AIS (Automatic Identification System) transponders. AIS data has known limitations:

• Vessels may disable or spoof AIS transponders.
• Data may be delayed by minutes to hours depending on the data provider.
• Coverage varies by region — some areas have poor satellite AIS coverage.
• Vessel counts and congestion scores are estimates, not official port statistics.

Price data is sourced from third-party financial data providers and may be delayed by 15 minutes or more. Do not use displayed prices for actual trade execution.

The relationships between port congestion and asset prices are historically observed correlations, not causal laws. These correlations can break down or reverse due to:

• Changes in global trade patterns or shipping routes.
• Currency movements that decouple freight rates from equity prices.
• Structural changes in how commodities are transported or stored.
• Regulatory changes affecting specific shipping companies or commodities.
• Macroeconomic regime changes.

HarborSignal makes no representations that the platform will be available at any particular time. Data feeds, AI signal generation, and price data may experience outages. Do not rely on HarborSignal as your sole source of information for time-sensitive trading decisions.

Depending on your jurisdiction, trading certain instruments may require specific regulatory approvals, accounts, or qualifications. You are solely responsible for ensuring that your trading activities comply with all applicable laws and regulations in your jurisdiction.

Publisher's Exemption (US): HarborSignal publishes general, impersonal market analysis simultaneously distributed to the public. HarborSignal relies on the publisher's exemption under Section 202(a)(11)(D) of the Investment Advisers Act of 1940. HarborSignal is not a registered investment adviser and does not hold itself out as one. All content is general commentary, not advice tailored to any individual's circumstances.

Futures and Commodities (US): HarborSignal is not registered as a Commodity Trading Advisor (CTA) with the Commodity Futures Trading Commission (CFTC) or as a member of the National Futures Association (NFA). Content relating to futures contracts is general market analysis only, distributed impersonally, and does not constitute individualized trading advice under the Commodity Exchange Act.

Jurisdiction: This platform is not directed at residents of the United Kingdom or the European Economic Area. HarborSignal is not authorised by the Financial Conduct Authority (FCA) and this content does not constitute a financial promotion under the Financial Services and Markets Act 2000. EU residents: this platform does not constitute a MiFID II investment service.

HarborSignal does not provide tax advice. Consult a tax professional regarding the tax implications of your trading activity.

By using HarborSignal, you acknowledge that you have read and understood this Risk Disclosure, that you understand the risks involved in trading financial instruments, and that you are solely responsible for all trading decisions you make.