August 2019

Mr D Legere Client Number: 2048686

40 Bernstein Close
Milton Keynes
Buckinghamshire
MK7 8EH

Dear Mr Legere
Your investment report

Your latest quarterly investment report is enclosed, and covers the period 1 May 2019 to 31 July 2019. This report keeps you up-
to-date with a simple valuation and statement of transactions. Your next report in October will give you a detailed analysis of your
portfolio, including our views on the most popular funds and shares.

The political calendar has been busy in the months since your last investment report. Despite the uncertainty the UK stock market
continues to look attractively priced, in our view, compounded by its dividend yield of around 4% (variable and not guaranteed).
Regardless of political events, remember the most important factor to your investment and saving success is sticking to your
long-term plan. We’ll support you throughout the summer with jargon-free news, insight and research through our website,
investment guides and publications.

Changes to the Terms & Conditions

We listen to our clients and aim to improve our service year on year. As part of the improvements we’re making this year, we’re
simplifying our charging structure by removing five of our charges. Details of these and all other changes can be found at
www.hl.co.uk/terms.

Since 1 June 2019 we no longer charge for:

1. Transferring stock between HL clients
2. GAD calculations, which calculate the maximum income available from SIPP Capped Income Drawdown accounts
3. Converting shares to certificates.

From 1 September 2019 we’ll no longer charge for:

4. Automatic reinvestment of fund income
5. Selling funds to pay our charges.

You can get an up to date valuation and portfolio analysis at any time online. If you’ve not yet registered for online access details of
how to do so are overleaf. If you have any questions please contact us so we can help.

Yours sincerely

Stuart Macdonald, Hargreaves Lansdown

Hargreaves Lansdown +44 (0)117 900 9000 Registered in England and Wales No. 1896481
One College Square South [email protected] A Wholly Owned Subsidiary of Hargreaves Lansdown Plc.
Anchor Road Bristol BS1 5HL www.hl.co.uk Authorised & Regulated by the Financial Conduct Authority.
 FURTHER INFORMATION

Your personal details – now is a good time to check everything is up to date

Please log in to your account then choose ‘Account Settings’ (found above your portfolio table). Check your information is up-to-date in the
‘Personal details and statement delivery’ section.

How is the cost figure and gain/loss calculated?

Cost figures shown for your investments held on our service are based on the total number of units/shares held multiplied by the average cost
price (including dealing charges and stamp duty) of all purchases in the stock. You shouldn’t use it to calculate Capital Gains Tax or for other tax
purposes, please refer to your contract notes if completing a tax return. The average cost price is calculated using only your buys. For example:

• You buy 5,000 shares for £1 each at a total cost of £5,000.

• The average cost price is the total purchase cost (£5,000) divided by the total number of shares purchased (5,000) = £1 per share.
• The share price rises and you buy another 2,500 shares for £4 each at a total cost of £10,000.
• Your new average cost price is the total purchase costs (£5,000 + £10,000) divided by the total number of shares purchased (5,000 + 2,500) =
kknii£2 per share.
• The cost of your holding is the total number of shares held (7,500) multiplied by the average cost price (£2) = £15,000.
• The share price rises further and you sell 3,750 shares (half of your holding) for £5 each. You receive £18,750.
• Your average cost price stays the same at £2.
• The cost of your holding is now the total number of shares held (3,750) multiplied by the average cost price (£2) = £7,500.
• The share price continues to rise and you buy another 1,500 shares at £8 each, costing £12,000.
• Your new average cost price is the total purchase cost (£5,000 + £10,000 + £12,000) divided by the total number of shares purchased (5,000
kknii+ 2,500 + 1,500) = £3 per share. Remember the shares you sold aren’t included in this calculation.
• The cost of your holding is the total number of shares held (5,250) multiplied by the average cost price (£3) = £15,750.

If you sell an investment completely, and then buy it again, only the new buy(s) will be used to calculate the cost price. However if you sell part of a
holding (even if you leave only one share unsold), and then buy more, all previous buys will still be included in the calculation, as in the example
above.

The gain/loss figure shown on your investment report is the difference between the cost of your shares or units (calculated in the way we explain
above) and their market value on 31 July 2019. Please note that equalisation (see below) can alter the average cost price. Please contact us if
you’d like further details.

Why is the cost figure slightly less than the amount I invested (Equalisation)?
When you buy a fund between income payment dates, the price you pay may include an amount of income already rolled up in the price. The fund
manager will usually reimburse you for this by returning a part of your initial investment on the first income payment date. This is known as
‘equalisation’ and will reduce your cost figure as it is considered a return of your capital.

Important Investment Notes

This valuation constitutes a report on your existing investments, so the information shown should not be seen as a promotion of any investment
or as personal advice. You’re responsible for making your own investment decisions, and for ensuring you are, and continue to be, eligible to hold
your chosen investments. You should make yourself aware of any restrictions on holding or trading your chosen investments, whether those
restrictions are imposed by law, the issuer or provider of an investment, or otherwise. All shares can be delisted at any time, sometimes with no
prior warning. If this occurs it may be difficult and costly, or even impossible, to sell your shares. You could lose the entire value of your
investment. If you are unsure of the suitability of any investment please call us on 0117 317 1690 for information on our advisory services. Past
performance is not a guide to future returns. The value of investments can fall, so you could get back less than you invest. Yields are variable and
not a reliable indicator of future performance. Tax rules can change, and any benefit to you will depend on your individual circumstances. Cost
prices and values shown may not be suitable for tax calculations. These statements have been provided by Hargreaves Lansdown Asset
Management Limited, who are authorised and regulated by the Financial Conduct Authority, on behalf of all Hargreaves Lansdown Group
companies. The portfolio analysis section of your report contains data provided by a third party and therefore we cannot accept any liability for its
accuracy or timeliness. Please check this information is still correct before using it to make any investment decisions.
 Mr D Legere
Client Number: 2048686

YOUR INVESTMENT REPORT

SUMMER 2019
For the period 01 May 2019 to 31 July 2019
Call 0117 900 9000 for further information

Investment Helpdesk - 0117 900 9000

For queries about the ISA or Fund & Share Account,
information on funds, shares, Investment Trusts, VCTs.
Monday - Friday 08:00 - 19:00 (18:00 Fri)
Saturday 09:30 - 12:30

SIPP & Pension Helpdesk - 0117 980 9926

For queries about the SIPP, income drawdown and all
other pensions queries.
Monday - Friday 08:00 - 19:00 (18:00 Fri)
Saturday 09:30 - 12:30

Dealing - 0117 980 9800

To buy and sell shares or funds within the ISA, SIPP or
Fund & Share Account.
Monday - Friday 08:00 - 21:00

Your investment report Account Administration - 0117 980 9950

Page 1 Portfolio Overview To open or top up any account by telephone using your
Page 2 Detailed Valuation debit card or change your contact details.

Monday - Friday 08:00 - 19:00 (18:00 Fri)

Saturday 09:30 - 12:30

Financial Advice Service - 0117 317 1690

For queries about our financial advice and portfolio management
services.
Monday - Friday 08:30 - 18:00

www.hl.co.uk
Hargreaves Lansdown Asset Management Ltd
Authorised & Regulated by the Financial Conduct Authority
 HL INVESTMENT REPORT SUMMER 2019

PORTFOLIO OVERVIEW 31 JULY 2019

Account Value (£) as at Value (£) as at Change (£) since
31 July 2019 30 April 2019 30 April 2019
Fund & Share Account 6,204 238 5,966
Loyalty Bonus Account 0 0 0
TOTAL 6,204 238 5,966

PAGE 1| SUMMER 2019 Mr D Legere (Client Number 2048686)

 HL INVESTMENT REPORT SUMMER 2019

FUND & SHARE ACCOUNT 31 JULY 2019

DETAILED VALUATION - FUND & SHARE ACCOUNT

Security Quantity Price Pence Value £ Cost £ Gain (Loss) Yield
£ %
Ctrip.com International Ltd ADR Repr 8 ... 7 3,183.47 222 263 (40) (15.2) N/A
NIO Inc ADS Each Repr 1 Ord A SHS 1,239 283.80 3,516 2,537 979 38.5 N/A
Subtotal 3,739
Capital Account Balance 2,463
Income Account Balance 1
TOTAL 6,204 939

CAPITAL ACCOUNT TRANSACTIONS - FUND & SHARE ACCOUNT

Transaction Trade Sedol Venue Transaction Details Units Unit Price Value Balance
Date Type Code Bought/Sold Pence £ £
01/05/2019 Balance Brought Forward 0.08
12/06/2019 Vantage Fund Receipt 5,000.00 5,000.08
12/06/2019 Bought BFZX9H8 XLOM NIO Inc ADS Each Repr 1 Ord A SHS @ 1437 1,239 201.77 (2,536.88) 2,463.20
09/07/2019 Interest : From 10/06/2019 TO 09/07/2019 0.18 2,463.38
The capital account shows all transactions and cash movements in the period.

Venue of Execution (Key)

Code Description
XLOM London Stock Exchange MTF (XLOM)

INCOME ACCOUNT TRANSACTIONS - FUND & SHARE ACCOUNT

Date Description Payments Receipts Balance
£ £ £
01/05/2019 Balance Brought Forward 1.69
The income account shows all investment income and loyalty bonuses paid to your account in the period.
Your instruction for income is for it to be held in your account pending your instructions.

PAGE 2| SUMMER 2019 Mr D Legere (Client Number 2048686)