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Is exposure to China three risks or one?, Strature Briefs · Country Outlook · No. 003, Edition 1.0, 30 September 2026. Published by Strature Geopolitical Prospects & Strategy Inc., Toronto, Ontario ("Strature", "we"). These terms apply to this brief, every summary and extract of it, and every file, chart, register and audio version supplied with it (together, the "Brief"). By requesting, obtaining, downloading or using the Brief, whether or not a fee is charged, you (the "Purchaser") accept these terms on behalf of yourself and your organisation.

1. General research, not advice. The Brief is general research and commentary on public events, policy and markets. It is published for general circulation, as an issue of a regular series, and the same edition is supplied to every Purchaser. It is not investment, financial, legal, tax, accounting, regulatory or other professional advice. It is not tailored to the objectives, financial situation, constraints or needs of any person. It does not recommend buying, selling or holding any security, loan or other investment, and it is not an offer or solicitation to buy or sell anything. Strature is not registered as an adviser or dealer under any securities law, and nothing in the Brief is given in any such capacity. "Options to consider" are analytical illustrations of what investors of a given type might weigh; they are not instructions.

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5. Forward-looking statements and estimates. The Brief contains forward-looking statements, including probabilities, scenarios, returns, costs and dates. They are our estimates, based on assumptions and on evidence available to 30 September 2026. They are subject to risks and uncertainties that may make actual outcomes differ materially. Every probability is our estimate, scored when it resolves; it is not a promise. We have no duty to update the Brief, except that we score each printed probability when it resolves. Past results, including our track record, do not indicate future results.

6. Third-party data "as is". The Brief uses information published by governments, companies, regulators and others. We restate it in our own words and credit it. We do not control or fully verify third-party information, and it is provided "as is". Licence notices for open-government and statistical data appear in the Brief and apply as stated. Naming a government, Nation, fund, company, person or project does not mean that it endorsed, sponsored, reviewed or approved the Brief.

7. AI-assisted production. The Brief was researched, drafted and checked with the help of artificial-intelligence systems, working under Strature's written method and the rulings of its principal. Every figure is traced to a named public source with its retrieval date. AI systems can make errors that our checks do not catch. The legal review of the Brief and of these terms was carried out by AI systems, not by a licensed lawyer.

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12. What these terms do not exclude. Nothing in these terms excludes or limits any liability that cannot lawfully be excluded or limited, including liability for fraud. Where the law limits how far liability may be excluded, the exclusions apply to the maximum extent the law allows.

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17. Corrections. Named parties and readers may send corrections to corrections@geopoliticalgps.com. We correct errors in the next edition and list them in its change log.

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Strature Geopolitical Prospects & Strategy Inc., Toronto, Ontario. Milad Naeimi, Principal, signing for and on behalf of the corporation.