<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=us-ascii">
<meta name="Generator" content="Microsoft Word 15 (filtered medium)">
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><style><!--
/* Font Definitions */
@font-face
{font-family:Helvetica;
panose-1:2 11 6 4 2 2 2 2 2 4;}
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:"Segoe UI";
panose-1:2 11 5 2 4 2 4 2 2 3;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0cm;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:#0563C1;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:#954F72;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:"Arial",sans-serif;
color:windowtext;}
.MsoChpDefault
{mso-style-type:export-only;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
@page WordSection1
{size:612.0pt 792.0pt;
margin:72.0pt 72.0pt 72.0pt 72.0pt;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-GB" link="#0563C1" vlink="#954F72">
<div class="WordSection1">
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Please find attached the comments of the Intellectual Property Constituency.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB">Susan Payne<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB">Head of Legal Policy
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB"><br>
<b>Valideus <br>
</b>28-30 Little Russell Street<br>
London WC1A 2HN<br>
United Kingdom<br>
<br>
</span><u><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#0563C1;mso-fareast-language:EN-GB"><o:p></o:p></span></u></p>
<p class="MsoNormal"><u><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#0563C1;mso-fareast-language:EN-GB"><a href="http://www.valideus.com/"><span style="color:#0563C1">www.valideus.com</span></a><o:p></o:p></span></u></p>
<p class="MsoNormal"><u><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#0563C1;mso-fareast-language:EN-GB"><o:p><span style="text-decoration:none"> </span></o:p></span></u></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB"><br>
</span><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;color:black;mso-fareast-language:EN-GB"><img border="0" width="260" height="70" id="B9331034-441F-49D8-A466-645251B2C89D" src="cid:image001.jpg@01D4997C.70F50FD0" alt="cid:image002.jpg@01D451BC.053B7070"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-size:10.5pt;font-family:"Segoe UI",sans-serif;color:black;background:#F4F5F7;mso-fareast-language:EN-GB"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB">Liability cannot be accepted for statements made which are clearly the sender’s own and not made on behalf of Valideus.
</span><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;color:black;mso-fareast-language:EN-GB"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB">This message is intended solely for the addressee and may contain confidential information. If you have received this message in error,
please send it back to us, and immediately and permanently delete it. Do not use, copy or disclose the information contained in this message or in any attachment.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.0pt;font-family:"Arial",sans-serif;color:black;mso-fareast-language:EN-GB">Valideus Ltd is registered in England and Wales with company number 06181291 and VAT number 272 9057 85. Our registered office is at 28-30
Little Russell Street, London, WC1A 2HN.</span><span style="color:black;mso-fareast-language:EN-GB"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
</body>
</html>