Terms and Conditions

1. About the Programme

Avenor Partners provides an eight-week educational training programme (the "Programme") covering the fundamentals of M&A (Mergers & Acquisitions) and Equity Research. The Programme consists of weekly worksheets, instructional content, an individual project, and a final group project reviewed by Avenor's Strategic Advisory Board.

The Programme is an educational course. Participation does not guarantee future employment. Enrolment does not create any employment, agency, or partnership relationship between you and Avenor Partners.

2. Enrolment and Fees

• The Programme costs EUR 49 excluding tax for the full Programme, payable at the time of enrolment, unless otherwise stated on the Avenor Partners website.
• This is a one-time fee covering the full curriculum, both tracks, the group project, and the Certificate of Completion.
• Prices are subject to change for future cohorts, but the price you pay at enrolment applies to your cohort.

3. Refunds

• All fees paid for the Programme are non-refundable, regardless of how much of the Programme you have completed, except as set out below.
• If Avenor cancels a cohort before it begins or before completion for reasons within Avenor's control, enrolled participants are entitled to a full refund.

4. Participant Conduct

By enrolling, you agree to:

• Participate in good faith in your individual and group work.
• Treat other participants and any Advisory Board members with respect.
• Not share Programme Materials outside your cohort, as further set out in the separate Non-Disclosure Agreement provided at enrolment.
• Submit your own original work for individual assignments, and contribute genuinely to your assigned group project.

5. Certificate of Completion

A Certificate of Completion is issued to participants who complete the full eight-week Programme, including submission of the final group deliverable. The Certificate confirms completion of the Programme's curriculum and is not a professional qualification, licence, or accreditation.

6. Use of Your Work and Professional Profiles

Your individual report and group project remain your own work product. By enrolling, you grant Avenor Partners a non-exclusive, royalty-free right to reference anonymised excerpts of your work for promotional purposes, for example in marketing materials describing the Programme, unless you notify us in writing that you do not consent to this.

You are free to share your own work publicly, including on LinkedIn or in a personal portfolio, in line with the guidance provided in the Programme Handbook.

You may list your participation under the Experience section of LinkedIn or on a CV as project-based programme experience. Any description must accurately identify the eight-week educational nature of the Programme and must not state or imply that you were employed by Avenor Partners. Acceptable titles include "M&A & Equity Research Analyst (Programme)" or "M&A & Equity Research Programme Participant."

7. Strategic Advisory Board

Final group deliverables are reviewed by members of Avenor's Strategic Advisory Board, who provide written feedback. Advisory Board members' involvement is limited to this review unless otherwise stated. Feedback provided by the Advisory Board is educational in nature and does not constitute financial, investment, legal, or professional advice.

8. No Investment or Financial Advice

Nothing produced during the Programme, including student reports, group projects, or Advisory Board feedback, constitutes investment advice, a recommendation to buy or sell any security, or professional financial advice of any kind. All analysis is conducted for educational purposes using publicly available information.

9. Limitation of Liability

To the fullest extent permitted by applicable law, Avenor Partners is not liable for any indirect, incidental, or consequential damages arising from your participation in the Programme. Avenor's total liability in connection with the Programme is limited to the fees you paid for your enrolment.

10. Changes to the Programme

Avenor Partners may update the curriculum, worksheets, or structure of future cohorts. Participants already enrolled in an active cohort will be notified of any material changes affecting their cohort.

11. Governing Law

These Terms are governed by the laws of Sweden. Any disputes will be subject to the jurisdiction of the Swedish courts.