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The document has been prepared by Quirin Privatbank AG (hereinafter referred to as „the Bank“). The document has been prepared by its author(s) independently of the company analysed in this report. The opinions, estimates and projections or forward-looking statements expressed in this document are entirely those of the author(s) hereof and are not given as an agent of the company.

The document may include certain descriptions, statements, estimates, projections or other forward-looking statements and conclusions underlying potential market and company developments. These reflect assumptions, which may turn out to be incorrect and no reliance should be placed on any information, opinions or assumptions contained herein. In particular, there can be no assurance that actual results witll not differ materially from those set out in any forward-looking statements contained in this document or that future results or events will be consistent with any opinions, estimates, projections or other forward-looking statements contained in this document.

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