This presentation is intended for educational purposes only and does not replace independent professional judgment, fi nancial advice and/ or legal advice. This presentation is not intended to be a promotion or an advertisement of Cake Pte. Ltd.’s services to the general public in Singapore. Statements of fact and opinions expressed are those of the participants individually and, unless expressly stated to the contrary, are not the opinion or position of Cake Pte. Ltd. or its employees.