Regarding contents that reflect opinions or news published by the asset managers and other personnel of the Miralta Group (Miralta Finance Bank, S.A. and Miralta Asset Management SGIIC, S.A.U., jointly “Miraltabank”) on topics of a general nature, please note that, although the contents will be reviewed, the organisations assume no responsibility for any such opinions or ideas of their authors, which are made outside their professional obligations within the Group.

Regarding content related to the economic and financial sector, please note that no information expressed should be construed as a recommendation, investment advice, financial analysis or any other form of general guidance relating to securities or financial instruments transactions. Furthermore, nothing published in this space should be construed as an offer to buy, sell, subscribe or deal in any securities or other instruments by Miraltabank. The information has been prepared under the regulatory provisions designed to promote the independence of investment reports, and there is no prohibition against trading before disseminating this information. Such content is prepared by obtaining data from sources believed to be reliable, and Miraltabank, therefore, endeavours to ensure that the information therein is accurate. However, Miraltabank does not guarantee the information’s completeness, truthfulness or accuracy, and it should not be relied upon as if it were. Miraltabank is under no obligation to update, amend or correct it regularly to inform the recipient of any changes in content.

Potential investors should make their own investment decisions and seek specialist advice as they deem necessary, as the views, criteria or securities or financial instruments referred to in this document may not be appropriate to their personal circumstances and particular investment objectives, financial or asset position, risk profile and/or investor classification and may be contrary to their interests. The provision of this material does not constitute the provision of a research service and is therefore understood not to be subject to the research-related incentive regime applicable under Directive 2014/65/EU and its implementing regulations, in particular, Commission Delegated Directive (EU) 2017/593 of 7 April 2016 (hereinafter collectively the “MiFID2 Regulation”). However, if the recipient is an entity subject to MiFID2 and considers this material does not qualify as a minor non-monetary benefit, it must immediately notify Miraltabank to cease sending this information or take, where appropriate, the necessary measures.

Neither the Miralta Group nor its professionals, representatives or advisors shall be liable in any way for damages arising from the reading, interpretation and use of the contents published in this space. The reader is solely responsible for its interpretation, use or investment decisions.

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