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IMPORTANT INFORMATION: ASIA THIS IS A MARKETING DOCUMENT. PLEASE READ THE IMPORTANT INFORMATION BELOW. WARNING The contents of this document have not been reviewed by the Securities and Futures Commission or regulatory authority in Hong Kong. You are advised to exercise caution in relation to the offer. If you are in any doubt about any of the contents of this document, you should obtain independent professional advice. THIS IS A STRUCTURED PRODUCT INVOLVING DERIVATIVES. DO NOT INVEST IN IT UNLESS YOU FULLY UNDERSTAND AND ARE WILLING TO ASSUME THE RISKS ASSOCIATED WITH IT. IF YOU ARE IN ANY DOUBT ABOUT THE RISKS INVOLVED IN THE PRODUCT, YOU MAY CLARIFY WITH THE INTERMEDIARY OR SEEK INDEPENDENT PROFESSIONAL ADVICE. DODD-FRANK DISCLAIMER If you are a “U.S. person” (as defined by the U.S. Commodity Futures Trading Commission), please visit http://swapdisclosure.sgcib.com for important information with respect to derivative products. By transacting with Société Générale, you are deemed to acknowledge that you have read and accepted the information provided on the website. INFORMATION FOR SPECIFIC RECIPIENTS For Recipients where this document is distributed by SG Securities (HK) Limited: This document is distributed to you by SG Securities (HK) Limited (CE: AAD941) (“SGSHK”) as an activity that is wholly incidental to its carrying out of a regulated activity for which it is already licensed. Details of SGSHK's license can be provided upon request. For Recipients where this document is distributed by Société Générale, Hong Kong Branch: This document is distributed by the Hong Kong Branch of Société Générale, a bank licensed by the Hong Kong Monetary Authority. Société Générale is a public limited company incorporated in France, acting through its Hong Kong branch, whose principal place of business is 38/F, Three Pacific Place, 1 Queen’s Road East, Hong Kong. For Recipients in Hong Kong: This document is issued solely to “professional investors” within the meaning of the Securities and Futures Ordinance (Cap. 571) of Hong Kong and any rules made under that Ordinance. For Recipients in Singapore: This document is distributed by Société Générale and may only be provided to accredited investors, expert investors and institutional investors, as defined in Section 4A of the Securities and Futures Act. If you wish to discuss this document or effect transactions in any security discussed herein, you should do so with or through MAS licensed representatives of Société Générale. If you are an accredited investor or expert investor, please be informed that in our dealings with you, we are relying on certain exemptions to the Financial Advisers Act (“FAA”) - (1) the exemption in Regulation 33 of the Financial Advisers Regulations (“FAR”), which exempts us from complying with Section 25 of the FAA on disclosure of product information to clients; (2) the exemption set out in Regulation 34 of the FAR, which exempts us from complying with Section 27 of the FAA on recommendations; and (3) the exemption set out in Regulation 35 of the FAR, which exempts us from complying with Section 36 of the FAA on disclosure of certain interests in securities. For Recipients in Korea receiving this document from Société Générale Seoul Branch: This document is distributed in Korea by Société Générale Seoul Branch, which is a bank branch in Korea duly licensed and regulated by the Financial Services Commission of Korea. Although the products or services mentioned in this document can be marketed in your country, you may not be eligible to purchase or transact in them and/or they may not be suitable for all types of investors. For Korean Investors Receiving this document from SG Securities Korea: This document is distributed by SG Securities Korea Co., Ltd. SG Securities Korea Co., Ltd is regulated by the Financial Services Commission and the Financial Supervisory Service under Korean laws. The product mentioned in this document may not be eligible or suitable for all types of investors. This document is not intended for private customers. For Korean Investors Receiving this Document from SG Securities (HK) Limited: This document is distributed by SG Securities (HK) Limited outside Korea and intended only for Korean financial institutions holding the dealing or brokerage business licence under the Financial Investment and Capital Market Act of Korea and the Enforcement Decree thereof. For other types of clients, this is distributed upon their request only. SG Securities (HK) Limited is regulated by the Securities and Futures Commission under Hong Kong laws. The product mentioned in this document may not be eligible or suitable for all types of investors. This document is not intended for private customers. Notice to Korean Investors Receiving this document: This document is distributed by Société Générale, Hong Kong Branch outside Korea and intended only for Korean financial institutions holding the dealing or brokerage business licence under the Financial Investment and Capital Market Act of Korea and the Enforcement Decree thereof. Société Générale, Hong Kong Branch is a bank licensed by the Hong Kong Monetary Authority. The product mentioned in this document may not be eligible or suitable for all types of investors. This document is not intended for private customers. For Korean Investors Receiving this Document from Singapore: This document is distributed by SG outside Korea and intended only for Korean financial institutions holding the dealing or brokerage business licence under the Financial Investment and Capital Market Act of Korea and the Enforcement Decree thereof. The product mentioned in this document may not be eligible or suitable for all types of investors. This document is not intended for private customers. For Recipients in Japan: This document is distributed in Japan by Société Générale Securities Japan Limited or Société Générale, Tokyo Branch, which is regulated by the Financial Services Agency of Japan. This document is intended only for the Professional Investors as defined by the Financial Instruments and Exchange Act in Japan and only for those people to whom it is sent directly by Société Générale Securities Japan Limited or Société Générale, Tokyo Branch, and under no circumstances should it be forwarded to any third party. For Recipients in China receiving this document from offshore (as a Result of a Reverse Enquiry ) : This document has been prepared and distributed by Société Générale, SG Securities (HK) Limited, and/or SG Securities (Singapore) Pte. Ltd. as a result of a reverse enquiry by you. Société Générale (China) Limited has not been involved with the preparation or distribution of this document. The products or services that may be mentioned in this document may not be able to be provided in China. Any products or services mentioned in this document to be provided are subject to laws and regulations and regulator's requirements in China, as well as the formally executed legal documents (if any). For Recipients in China receiving this document from Société Générale (China) Limited: This document has been prepared and distributed by Société Générale (China) Limited. Any products or services mentioned in this document to be provided are subject to laws and regulations and regulator's requirements in China, as well as the formally executed legal documents (if any). For Documents Distributed in Australia by any SG Branch: Notice to Australian investors: This document is distributed by Société Générale (ABN 71 092 516 286). Société Générale holds an AFSL no. 511956 issued under the Corporations Act 2001 (Cth) (“Act”). Société Générale is a foreign Authorised Deposit-Taking Institution under the Banking Act 1959 (Cth) and any products described in this document which are issued by Société Générale do not form deposits or other funds of Société Générale. No entity described in this document (aside from Société Générale) is an Authorised Deposit-Taking Institution and the transactions which may be proposed and products which may be issued as described in this document do not form deposits or other funds of Société Générale. Unless this document expressly provides that Société Générale will provide a guarantee, Société Générale does not guarantee the obligations of any other entity described in this document in respect of any proposed transactions or products and those obligations do not represent liabilities of Société Générale. This document is provided to you on the basis that you are a 'wholesale client' within the meaning of section 761G of the Act . For Documents Distributed in Australia by Société Générale Australia Limited (ABN 72 002 093021): Société Générale Australia Limited holds an AFSL no. 244585 issued under the Corporations Act 2001 (Cth) (“Act”). The information contained in this document is only directed to recipients who are wholesale clients as defined under the Act. Société Générale (ABN 71 092 516 286) (AFSL 511956) is a foreign Authorised Deposit-Taking Institution under the Banking Act 1959 (Cth) and the transactions which may be proposed and products which may be issued as described in this document do not form deposits or other funds of Société Générale. Neither SGAL nor any other entity described in this document (aside from Société Générale) is an Authorised Deposit-Taking Institution and the transactions which may be proposed and products which may be issued as described in this document do not form deposits or other funds of Société Générale. Unless this document expressly provides that Société Générale will provide a guarantee, Société Générale does not guarantee the obligations of SGAL or any other entity in respect of any proposed transactions or products and those obligations do not represent liabilities of Société Générale. Notice to Australian Investors: Société Générale Securities Australia Pty Limited (ABN 56 114 206 307) (“SGSAPL”) takes responsibility for publishing this document. SGSAPL holds an AFSL no. 289791 issued under the Corporations Act 2001 (Cth) (“Act”). The information contained in this document is only directed to recipients who are wholesale clients as defined under the Act. Société Générale (ABN 71 092 516 286) (AFSL 511956) is a foreign Authorised Deposit-Taking Institution under the Banking Act 1959 (Cth) and the transactions which may be proposed and products which may be issued as described in this document do not form deposits or other funds of Société Générale. Neither SGSAPL nor any other entity described in this document (aside from Société Générale) is an Authorised Deposit-Taking Institution and the transactions which may be proposed and products which may be issued as described in this document do not form deposits or other funds or liabilities of Société Générale. Unless this document expressly provides that Société Générale will provide a guarantee, Société Générale does not guarantee the obligations of SGSAPL or any other entity in respect of any proposed transactions or products and those obligations do not represent liabilities of Société Générale. For Resident Indian Clients: This document has been provided to you in the capabilities of Société Générale and its subsidiaries or affiliates and the product is offered in India to only those resident Indian clients who are eligible to be classified as non-retail user and can transact/ undertake exposures as defined by the Reserve Bank of India Regulations as amended from time to time, along with any other applicable laws and regulations in India. If you wish to discuss this document or effect transactions in any security discussed herein, you should do so with or through representatives of Société Générale, India branches. All the products mentioned in this document may not be available to you. For Documents Distributed in Taiwan: This document has been provided to you as a result of reverse enquiry and may only be distributed to “professional institutional investors” within the meaning provided in the applicable regulations in Taiwan. The product(s) or service(s), if any, mentioned in this document are subject to laws and regulations and regulator’s requirements in Taiwan and may not be eligible or available for sale in Taiwan. IMPORTANT INFORMATION FOR ALL RECIPIENTS Where applicable, "SG" means Société Générale and/or its relevant affiliates. General disclaimer regarding financial products and services: Financial products and services contain a variety of risks (including market, credit, financial and regulatory risks), which may lead to capital loss and regulatory consequences if not used in accordance with local laws. You should be familiar with all risks associated with any product or service and should not invest in or utilise any financial products or services in this document unless you fully understand and are willing to assume such risks. If you are in any doubt about the risks involved in a product or service, you should seek further clarification of the risks with the distributor or provider of the product or service or seek independent professional advice. Tax risk: The benefit of any tax advantages that may be referred to in this document depends on your particular tax status, the jurisdiction from which you transact as well as applicable laws that can change any time. Not advice or recommendation: This document does not constitute proper investment advice. SG has not determined whether the transactions or services described in here are suitable, and independent financial, tax and legal advice should be sought by you prior to any transaction or engagement of service. Not an offer or contract: This document is neither a contract nor an offer to enter into any financial transaction or purchase or sale of any financial product or service. The terms of any transaction or service are governed by a separate contract that is agreed and executed between the parties or otherwise sent by SG, and not this document. No further disclosure, reproduction or reliance permitted: This document has been prepared solely for persons it has been distributed to directly by SG. Its contents may not be disclosed to, reproduced or used or relied upon by, any other person, or used for any other purpose. Facts or information: Any facts, views or data contained in this document is based upon sources believed to be reliable, but have not been independently verified and may change without notice. No warranties of any type are provided in relation to the information. SG assumes no duty, responsibility or any liability for any consequences that may arise from transacting in any product or service. In particular, SG does not warrant the accuracy of the views, facts or data contained in this document, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or fitness for a particular purpose. No duty to disclose or account for SG's role in securities or derivatives: SG may deal in, profit from the trading of, hold or act as market-makers or act as advisers or brokers in relation to the securities, or derivatives mentioned in this document, or be represented on the board of entities issuing such securities. It is under no obligation to disclose or take account of this document when advising or dealing with or for its customers. Not research: This document does not constitute independent investment research nor is it subject to prohibition on dealing ahead of the dissemination of investment research and should be treated as a marketing material. Investment recommendations are published pursuant to applicable regulations and internal rules, and is stated as of the publication date: This document includes investment recommendations issued from Société Générale’s investment research department which has set, in accordance with applicable regulation, effective administrative and organizational arrangements, including information barriers to prevent and avoid conflicts of interest with respect to the investment recommendations contained in this publication. Research publications supporting this document were issued on their stated publication date and may have already been acted upon by clients of Société Générale. General selling restrictions: Financial products or services may not be bought or subscribed to if you do not qualify in your local jurisdictions and you should ensure that you contact and deal through an appropriately licensed entity if you wish to purchase any such products or services. This document is for institutional clients only (or in Switzerland, qualified investors as per art. 10 para. 3 CISA only, or in Singapore, accredited investors as per the Securities and Futures Act (Chap 289), or in the United States, institutional investors (as defined under FINRA Rule 2210)). It is not directed at retail clients. This document only promotes certain electronic services (the “Services”) that may be made available by SG to certain clients in SG Markets webportal and application programme interfaces (the "APIs"). Certain products are referred to in this document for the sole purpose of illustrating how such Services operate. As a consequence, this document does not constitute an offer, or an invitation to make an offer, from Societe Generale to purchase or sell a product. Your access to the Services is subject to various conditions and restrictions (geographical location, client type). SG retains full discretion to grant you access to the Services. SG Markets webportal and APIs are not directed at any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication, content or availability of SG Markets webportal and APIs are prohibited or would subject SG or its affiliates (collectively, “SG Group”) to any registration requirement within such jurisdiction. Persons in respect of whom such prohibitions apply must not access or use SG Markets webportal and APIs. SG Markets webportal and APIs are offered by Societe Generale, a société anonyme having its registered office at 29 Boulevard Haussmann 75009 Paris France and registered with the Paris companies registry under the number 552 120 222 (for purposes of this disclaimer, “SG”) and are governed by French law. You must be authorised to access and use SG Markets webportal and APIs by the company you represent (the “Client”) and by SG. SG Markets webportal and APIs are provided to you “As IS”. You use SG Markets webportal and APIs at your own risk and you assume full responsibility and risk of loss resulting from your use of, or your access to, SG Markets webportal and APIs. SG makes no representation or warranty of any kind whatsoever, expressed or implied, regarding SG Markets webportal and APIs or the consequences or results of your use of SG Markets webportal and APIs. SG disclaims all warranties as to the fitness for a particular purpose of SG Markets webportal and APIs. You may only use the services offered by SG through SG Markets webportal and APIs if you possess the necessary expertise to assess the benefits and the risks of using such services. SG Markets webportal and APIs only provide general information and do not provide any information personalized or tailored to your investment objectives, financial situation or needs. Nothing contained in SG Markets webportal and APIs constitutes an investment advice or a personal recommendation to any investor or its agent by SG Group to buy or sell, any securities or other product, or provide any investment advice or service. You should contact your usual SG salespersons to find out whether the Services may be made available to you. SG Authorisation: Societe Generale is a French credit institution (bank) that is authorised and supervised by the European Central Bank (ECB) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) (the French Prudential Control and Resolution Authority) and regulated by the Autorité des marchés financiers (the French financial markets regulator) (AMF). Details about the extent of our authorization, supervision and regulation are available from us on request. This document is issued in the U.K. by the London Branch of Societe Generale. Societe Generale London Branch is authorised by the ECB, the ACPR and the Prudential Regulation Authority (PRA) and subject to limited regulation by the Financial Conduct Authority (FCA) and the PRA. This document is distributed in Sweden by the Stockholm Branch of Societe Generale SA. Societe Generale SA Bankfilial Sverige, Nybrokajen 7, floor 8, 111 48 Stockholm, registered in the Swedish Companies Registration Office register over branches with registration number 516406-1052, authorised by the ECB, the ACPR and subject to limited regulation and review by the Finansinspektionen (the Swedish Financial Supervisory Authority). Société Générale is regulated by the Commision Nacional del Mercado de Valores (CNMV) for the conduct of its securities activities in Spain. Commercial nature of the document: This document is of a commercial and not of a regulatory nature. Confidentiality: This document is confidential and may be neither communicated to any third party (with the exception of external advisors on the condition that they themselves respect this confidentiality undertaking) nor copied in whole or in part, without the prior written consent of Société Générale or the issuer. Indicative document: The contents of this document are given for purely indicative purposes and have no contractual value. Notice to US Investors: This document is directed only to institutional investors (as defined under FINRA Rule 2210). Under SEC Rule 15a-6, any US person wishing to discuss this document or utilize the services or products referred to herein should do so with or through SG Americas Securities LLC to conform with the requirements of US securities law. SG Americas Securities LLC is a broker-dealer registered with the Securities & Exchange Commission, a futures commission merchant subject to regulatory oversight by the Commodity Futures Trading Commission and a member of FINRA, NYSE, NFA and SIPC. If you are a “U.S. person” (as defined by the SEC and CFTC), please visit sites http://www.sgasdisclosure.com et https://wholesale.banking.societegenerale.com/en/compliance-regulatory-information/general-disclosures regarding SGAS and transactions you may enter into with SGAS. Notice to Singapore investors: This document may only be provided to accredited investors, expert investors and institutional investors, as defined in Section 4A of the Securities and Futures Act. Any such investor wishing to discuss this document or effect transactions in any securities or product referred to herein should do so with or through MAS licensed representatives of Societe Generale, Singapore Branch. Notice to Swiss Investors: This document may be distributed, directly or indirectly, in or from Switzerland exclusively to 1) Qualified Investors as defined in article 10 of the Swiss Collective Investment Scheme Act (“CISA”) and related provisions of the Collective Investment Scheme Ordinance or 2) independent asset managers in Switzerland regulated by FINMA or a self regulatory authority recognised by FINMA, and in strict compliance with applicable Swiss law and regulations. Notice to Japanese Investors: This document is prepared by Societe Generale, Tokyo Branch and its affiliates (collectively, “SGTB”) and may only be provided to Qualified Institutional Investors as defined in Article 2, Paragraph 3 of the Financial Instruments and Exchange Act of Japan and Article10 of Cabinet Office Ordinance on Definitions provided in Article 2 of the Financial Instruments and Exchange Act of Japan. For any complaint you may have, please contact us using the following link: https://wholesale.banking.societegenerale.com/en/compliance-regulatory-information/useful-information/client-claim/ INFORMATION RELATING TO SPECIFIC PRODUCTS AND SERVICES Credit risk: By entering into any transactions or transacting in any products contemplated by this document (the “product”), the counterparty bears the credit risk of parties mentioned in this document who will be responsible for ensuring due and punctual payment of any sums owed. Capital at risk: There is no assurance that your investment in any product will be partially or fully repaid and you may lose part or all of your investment (if any). This is a capital at risk product. Market Risk: The market value of any financial products purchased may significantly change as a result of political, economic, currency, market news, corporate developments and other events, which may in certain cases lead to capital loss, loss of the entire amount invested and in a worst case scenario, to unlimited losses. Data, prices, values provided or reproduced involves assumptions, estimates and approximation: The data, prices, values (each, an “Indication”) provided or reproduced in this document are based on data and model which inherently involves assumptions, estimates and approximation. By providing those Indications, neither Société Générale nor its affiliates is expressing any opinion as to the merits of any particular product or transaction, nor its suitability or appropriateness for any prospective counterparty or investor. Indications are based on a discretionary shift of one or several risk factors and an extract of certain parameters. Each Indication is provided based on information available to either Société Générale or its affiliates as at the date of its preparation, and neither Société Générale nor its affiliates undertakes any duty to update any of the information contained herein. You should be aware that those Indications are indicative and are not binding on either Société Générale or its affiliates. Société Générale and its affiliates disclaim any liability for any such use or reliance thereon, whether losses or damages are direct, indirect, incidental or consequential, even if Société Générale and/or its affiliates is/are advised of their possibility. Exceptional events affecting the underlying instrument(s): In order to take into account the consequences on the product of certain extraordinary events affecting the underlying instrument(s) of the product, Société Générale may (i) adjust or substitute the underlier of the transaction and, in certain cases, (ii) terminate the product early, which may result in losses. Authority to transact: It is your responsibility to ascertain that you are authorised to enter into any transactions or execute any agreements relating to any product or service. Currency exchange risk: Where any payments are required to be converted, you should be aware that you may be subject to exchange rate fluctuations and other conversion costs such as bid/offer spreads. Trade ideas referencing reviews, opinions or reports by other departments of SG, its affiliates or third parties, as the case may be: This document may be inconsistent with, and reach different conclusions from, views, opinions or reports by other departments of SG and its affiliates and SG is under no obligation to ensure that such other views, opinions or reports are brought to the attention of any recipient of this document. The trade ideas contained in this document are based upon sources which may not be available to the general public and are based upon certain criteria and assumptions which may not take into account your specific investment objectives, financial situation or needs or the characteristics of the financial product or service described herein. The trade ideas contained in this document may be inconsistent with, and reach different conclusions from such sources as a result of using different criteria and assumption. The information contained in this document does not take into account any of your personal objectives, circumstances or needs (“personal factor”), and accordingly you should consider whether such information is appropriate for your personal factor before taking any actions based on it. RISK FACTORS RELATING TO PHYSICALLY SETTLING PRODUCTS Physical delivery risk: For products settled by physical delivery, the risk of delivery corresponds to a market participant’s inability to comply with its obligations as a seller under sales agreements (e.g. the delivery of a relevant underlying under the forward contract, etc.). This participant will then have to unwind its position which will trigger an increase in the price of the relevant transaction. Such increase will be greater if the position is significant and the time of delivery is approaching. This may result in a loss of profit. In the event of physical delivery under a transaction you should ensure you have made appropriate arrangements to settle such delivery, which may include but is not limited to, obtaining and appointing appropriate licences, agents or custodians. Risk of price fluctuation: The price of any underlying asset or security delivered could move substantially on news and developments and this could pose significant event risks to you. Risk of significant losses in liquidating underlying investment: You may suffer significant losses in liquidating the underlying investments, especially if such investments do not have an active secondary market and their prices have large bid/offer spreads. IMPORTANT INFORMATION: EUROPE The contents of this document are given for purely indicative purposes and have no contractual value. Prior to investing in a product having the index described herein (the “Index”) as its underlying, investors should seek independent financial, tax, accounting and legal advice. This document does not constitute an offer, or an invitation to make an offer, from Societe Generale to purchase or sell the Index, which cannot be invested in directly. The purpose of this document is simply to describe the principles and main financial characteristics of the Index. Risk of price movement: The level of the Index may be subject to significant price movement due to, inter alia, the evolution of the price of the underlying instrument(s) and of the interest rates. General selling restrictions: It is each investor’s responsibility to ascertain that it is authorised to subscribe, or invest into, any product having the Index as underlying. Warning regarding the Index: The Index is the sole and exclusive property of Societe Generale. Societe Generale does not guarantee the accuracy and/or the completeness of the composition, calculation, dissemination and adjustment of the Index, nor of the data included therein. Subject to any applicable law, Societe Generale shall have no liability for any errors, omissions, interruptions or delays relating to the Index. Societe Generale makes no warranty, whether express or implied, relating to (i) the merchantability or fitness for a particular purpose of the Index, and (ii) the results of the use of the Index or any data included therein. Subject to any applicable law, Societe Generale shall have no liability for any losses, damages, costs or expenses (including loss of profits) arising, directly or indirectly, from the use of the Index or any data included therein. The levels of the Index do not represent a valuation or a price for any product referencing such Index. A summary of the Index rules is available either online on the website www.sgindex.com, or if not online, upon written request made to Societe Generale at the address stated in the document. Commercial nature of the document: This document is of a commercial and not of a regulatory nature. Authorisation: Societe Generale is a French credit institution (bank) that is authorised and supervised by the European Central Bank (ECB) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) (the French Prudential Control and Resolution Authority) and regulated by the Autorité des marchés financiers (the French financial markets regulator) (AMF). Conflict of interest management: The roles of the different teams involved within Societe Generale in the design, maintenance and replication of the Index have been strictly defined. Where Societe Generale holds a product having the Index as its underlying and other positions exposing it to the Index for its own account, the replication of the Index is made in the same manner by a single team within Societe Generale, be it for the purpose of hedging the product held by external investors or for the purpose of the positions held by Societe Generale acting for its own account. Societe Generale may take positions in the market of the financial instruments or of other assets involved in the composition of the Index, including as liquidity provider. Although this publication includes investment recommendations issued from Societe Generale’s investment Research department, it is prepared by Societe Generale’s Marketingteam. In accordance with the European Market in Financial Instruments Directive (“MiFID”) as implemented in the General Regulation of the French Autorité des Marchés Financiers, this publication should be treated as a marketing communication providing general investment recommendations and should not be treated as a research report issued by Societe Generale’s Research Department. This document has not been prepared in accordance with regulatory provisions designed to promote the independence of investment research, and Societe Generale, as investment services provider, is not subject to any prohibition on dealing in the financial instrument or instruments ahead of the dissemination of this publication. This publication includes investment recommendations issued from Societe Generale’s investment Research department which has set, in accordance with applicable regulation, effective administrative and organizational arrangements, including information barriers to prevent and avoid conflicts of interest with respect to the investment recommendations contained in this publication. Research publications supporting this document were issued on their stated publication date and may have already been acted upon by clients of Societe Generale. No offer to contract: This document does not constitute an offer, or an invitation to make an offer, from Societe Generale to purchase or sell a product. As a consequence of the current geopolitical turmoil involving Russia and Ukraine financial markets are going through a severe market downturn marked by distressed asset valuations, increased volatility and high uncertainty on potential future evolutions. In these troubled market conditions investors should thoroughly analyze the risks and benefits of their financial decisions, taking into consideration all potential implications of the particular current situation. For any complaint you may have, please contact us using the following link : https://wholesale.banking.societegenerale.com/en/compliance-regulatory-information/useful-information/client-claim/ Prior to investing in the product, investors should seek independent financial, tax, accounting and legal advice. Marketing of underlying forbidden: THE UNDERLYING INSTRUMENT(S) OF THIS PRODUCT MAY NOT BE AUTHORISED TO BE MARKETED IN THE COUNTRY(IES) WHERE SUCH PRODUCT IS OFFERED. THE ATTENTION OF INVESTORS IS DRAWN TO THE FACT THAT THE OFFERING OF THIS PRODUCT IN THIS (THESE) COUNTRY(IES) IN NO WAY CONSTITUTES AN OFFER, OR AN INVITATION TO MAKE AN OFFER, TO SUBSCRIBE TO, OR PURCHASE, THE UNDERLYING INSTRUMENT(S) IN SUCH COUNTRY(IES). Confidentiality: This document is confidential and may be neither communicated to any third party (with the exception of external advisors on the condition that they themselves respect this confidentiality undertaking) nor copied in whole or in part, without the prior written consent of Societe Generale. Information on data and/or figures drawn from external sources: The accuracy, completeness or relevance of the information which has been drawn from external sources is not guaranteed although it is drawn from sources reasonably believed to be reliable. Subject to any applicable law, Societe Generale shall not assume any liability in this respect. Market information: The market information displayed in this document is based on data at a given moment and may change from time to time. If this Document is distributed by SG London Branch: Societe Generale London Branch is authorised by the Prudential Regulation Authority with deemed variation of permission and is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. SG London Branch: Societe Generale Corporate And Investment Banking. One Bank Street, Canary Wharf, E14 4SG London, UNITED KINGDOM. Website: www.sgcib.com – Tel: +44 (0)20 7676 6000 If this document is distributed in Sweden by the Stockholm Branch of Societe Generale SA. Société Générale SA Bankfilial Sverige, Hamngatan 2, 5th floor, 111 47 Stockholm, registered in the Swedish Companies Registration Office register over branches with registration number 516406-1052, authorised by the ECB, the ACPR and subject to limited regulation and review by the Finansinspektionen (the Swedish Financial Supervisory Authority). Details about the extent of our authorisation, supervision and regulation by the above mentioned authorities are available from us on request. SG Stockholm Branch : Société Générale SA Bankfilial Sverige. Hamngatan 2, 5th floor. 111 47 Stockholm, Sweden Société Générale Global Banking and Investor Solutions 17 cours Valmy - 92987 Paris - La Défense Cedex Siège Social : 29 Bd Haussmann, 75009 Paris 552 120 222 RCS Paris - APE : 651C - SIRET : 552 120 222 000 13 Société anonyme au capital de 1 066 714 367.50 EUR (31/12/2020). Société Générale est un établissement de crédit (banque) agréé par l’ACPR.

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