Investor Relations

Terms and Conditions

Please carefully read the following important Terms & Conditions that govern your access to, and the use of this information, and acknowledge your agreement of them. If you agree to the terms, click 'I Agree' below to access the information. If you click 'I Do Not Agree' you will be redirected away from this page.

You (the Client) acknowledge and agree to the terms and conditions and agree not to undertake any act or omission that would constitute a breach of these Terms and Conditions.

Access and use of this website (the Website) is conditional upon agreement to and compliance with these Terms and Conditions of Access to the Website (the Terms and Conditions).

1. Access to and use of the Website

1.1 The materials on the Website are directed, in the UK and in other EEA countries, to persons regarded as market counterparties and intermediate customers and not to private customers, as defined by the rules of the Financial Services Authority, who should not rely on the website. Moreover, any investment or services to which the website may relate will not be made available to such private customers. The materials on the Website are intended for use by authorised users only and may not be published, copied or distributed to any other person.

1.2 Nothing in the Website is, or is to be construed as an offer of or invitation to subscribe for, underwrite or purchase securities in any jurisdictions in which such offer is or may be prohibited, restricted or subject to any requirement for filing, authorisation, license or consent.

1.3 The Client agrees that it has not made and will not make any offer of securities referred to on the Website (Securities) other than in accordance with applicable law and regulation.

1.4 Nothing in the Website constitutes an offer of securities for sale in the United States. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended (the Securities Act). It is not intended that the Securities will be registered under the Securities Act or any U.S. state securities laws. The Client will use the Website solely for its own internal use in accordance with the terms and conditions of these Terms and Conditions.

1.5 The Client will not engage in any activities related to the Website that are contrary to applicable law or regulation or the terms of any agreements between the Client and YBS.

1.6 The website may contain other proprietary notices and copyright information, the terms of which must be observed and followed.

2. Acknowledgements and disclaimers

The Client acknowledges and agrees to the following:

(a) No duty to update or correct materials. Neither YBS nor any other party has any duty to maintain or update any such materials. Historic performance information with regard to any security is no indication of its future performance.

(b) Changes to materials. YBS may remove or make changes to the materials available on the Website at any time.

(c) Third party materials. Information on the Website sourced from third parties ( Third Party Materials), including (without limitation) offering circulars, prospectuses, listing particulars, pricing supplements reports, agreements, summaries, models, commentary and other materials, has been obtained from sources believed to be reliable, but YBS does not warrant its completeness or accuracy. YBS has no obligations in respect of Third Party Materials (including as to verifying or correcting Third Party Materials or publishing materials relating to Third Party Materials). Posting Third Party Materials on the Website does not imply any endorsement, adoption of or responsibility by YBS for the opinions, ideas, products, information or services offered therein, or any representation regarding the content of any Third Party Materials.

(d) Offering documents and research reports. Any final offering memoranda or other offering materials (each, an Offering Document) or research reports posted on the Website are Third Party Materials unless produced by YBS. Third Party Materials are provided solely for Client's convenience to generally describe the terms of the transaction described therein.

• The Client should not assume that the information contained or incorporated by reference in any Offering Document or research report is accurate as of any date other than the respective date set forth therein or the date of the information incorporated therein.
• Offering Documents, research reports and other information contained in the Website may not be distributed (whether in whole or in part) to or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation

(e) YBS Positions. YBS may have its own interests in relation to the issuers or any affiliates of the issuers of Securities or transactions mentioned on the Website.

(f) Disclaimer of Advice. Except as otherwise expressly stated, the Website does not purport to provide any financial, investment, tax, accounting or legal advice or recommendation.

(g) Click Through. Any acknowledgment, agreement or other type of click through button on the Website that is selected to evidence agreement or an acknowledgement shall have the same force and validity as a paper copy of an agreement that has been manually signed and delivered.

(h) Discontinuance and disruption of service. YBS or its suppliers may discontinue the Website at any time.

(i) Regulation S. The Client is not a "U.S. person" as that term is defined in Regulation S under the Securities Act and is not in the United States.

3. Unauthorised Use

Unauthorised use of the Website including but not limited to unauthorised entry into such entities' systems, or misuse of any information posted to the Website, is strictly prohibited.

4. Limitation of Liability

4.1 YBS and third party data providers are not responsible for any errors in or omissions from the information contained in or accessed through the website (including all information, tools and materials contained on the website).

4.2 The website may contain statements that constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as the words "believes", "expects", "may", "intends", "should" or "anticipates", or the negative or other variations of those terms. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance of the securities issued under the YBS covered bond programme or the UK residential mortgage industry to differ materially from any future results or performance expressed or implied in the forward-looking statements.  These risks, uncertainties and other factors include, among others: general economic and business conditions in the United Kingdom; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting YBS and/or YBS; changes in business strategy, lending practices or customer relationships; and other factors that may be referred to in the website.

4.3 Except as may be otherwise expressly provided by written agreement between YBS and the user, YBS will have no tort, contract or any other liability to the user or any third party arising in connection with the use of the website, or reliance on any information or services provided at this website.

4.4 YBS will under no circumstances be liable to the user or any third party, regardless of the form of action, for any lost profits or lost opportunity, or any indirect, special, consequential, incidental or punitive damages whatsoever, even if YBS has been advised of the possibility of such damages.

4.5 Nothing in this clause shall limit or exclude liability of YBS:

(a) for personal injury arising from negligence;

(b) for fraud, gross negligence or wilful default; or

(c) that may not be limited or excluded under applicable law and regulation.

4.6 The parties agree that the limitations and exclusions set out in this clause are reasonable having regard to all the relevant circumstances and the levels of risk associated with each party's obligations under these Terms and Conditions.

5. Governing Law

5.1 These Terms and Conditions will be governed by, and construed in accordance with, the laws of England and Wales.

5.2 The English courts will have jurisdiction to settle any disputes which may arise in connection with these Terms and Conditions.