Required disclaimer

Castilian Capital Equity Research does not represent an investment service in terms provided in Article Royal Decree-Law 14/2018, of September 28, Royal Decree 1464/2018, of December 21, as is it a personal opinion from the author on the subject stock analysis of a generic nature and not personalized to the client’s circumstances.

Castilian Capital Equity Research does not offer any investment service or investment auxiliary service in the terms that are included in Spanish laws and especially since it does not fall into the case provided for in article 5.1 letter “g” of Royal Decree 217/2008, it does not require authorization and any registration with the National Securities Market Commission since this service is outside the powers of said institution.