As a Subscriber (also referred to as “you” and “your” henceforth) to Yellowstone Equity’s Service, you are bound by the terms set forth herein.

For the purposes of this Terms & Conditions, “Service” shall mean research service such as the basket (including but not limited to constituents, conviction level, rebalances, etc.) and/or associated research reports/notes as well as other forms of content and communication shared via website, email, phone, message, audio/video chat, etc. This Service is operated by Ankit Agrawal (“Research Analyst”), proprietor of Yellowstone Equity (as at “yellowstoneequity.com”) and henceforth, the terms “we”, “us” and “our” refer to Yellowstone Equity. This Service is offered to the Subscriber in exchange for a Service Fee for a stipulated Subscription Period.

By subscribing to this Service via payment of the Service Fee, the Subscriber acknowledges that he/she has read and accepted the below terms & conditions.

Important Notice & Guidance: For us, a basket is just a compilation of our high conviction ideas in one place. The assigned Conviction Level per idea is just to indicate our confidence level in a given idea. Structuring a basket by Conviction Level enables measurability and trackability of the conviction-weighted performance of our recommendations in a consistent and quantifiable manner across time periods. It also indicates relative attractiveness of a given idea vis-a-vis our other ideas. Higher the Conviction Level percentage, higher our confidence level. These Conviction Level percentages should not be construed as portfolio weightages or asset-allocation/capital-allocation advice. As a client/end-user of our research service, you are free to invest in none or one or many or all of our recommended ideas, in any proportion/weight/allocation as per your choice and as you deem appropriate. Being a research analyst entity, we neither provide any portfolio management service or asset allocation advice, nor do we do financial planning and/or risk profiling. Please consult your investment adviser before making any investment decisions.

Performance Measurement & Reporting: Any performance reported across our communication for our basket(s) is illustrative in nature and is not to be construed as true or actual performance of any of Yellowstone Equity's associates or clients/end-users. To measure performance in a quantifiable and consistent manner across time periods, Yellowstone Equity assigns Conviction Level per idea at the time of a new recommendation or a change in conviction/recommendation. These Conviction Level percentages are neither portfolio weightages nor asset-allocation/capital-allocation advice to any of its clients/end-users.

Intellectual Property Rights: All ownership and beneficial rights, including title, content and intellectual property rights pertaining to our Service vest exclusively with the Research Analyst. Any copying or sharing of any content related to this Service is strictly prohibited.

Your Obligations:

• You may not use our products, reports, intellectual property, for any illegal or unauthorized purpose nor may you, in the use of the Service, violate any laws in your jurisdiction (including but not limited to copyright laws).
• You agree not to reproduce, duplicate, copy, share, sell, resell or exploit any portion of the Service, use of the Service, or access to the Service, without express written permission by us.
• You hereby represent and warrant to the Research Analyst that you want to avail the Service only for yourself and not for any other person.
• You agree to provide accurate and complete personal information and notify us of any changes promptly.
• You agree to receive calls, messages, emails and other forms of communication, regarding our Service and our promotional offers.

Place of Arbitration: The seat of arbitration shall be at the discretion of the Research Analyst, Ankit Agrawal.

Indemnity Limit: We shall have no liability in case of any claim arising in relation to actions of proven fraud, gross negligence and/or willful default in connection with discharge of duties of the Research Analyst.

Refunds and Cancellations: We do not offer refunds. All sales are final and non-transferable under any circumstance. Cancellations will not provide refunds.

Renewal Terms: For continuation of the Service beyond the Subscription Period, the Subscriber will need to pay in advance the Service Fee prevailing towards the end of the Subscription Period.