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The information in this electronic transmission, and or research report, is distributed in the United States by Swedbank AB and in certain instances by Swedbank Securities U.S., LLC (“Swedbank”), a U.S registered broker dealer, only to major U.S. institutional investors, as defined under Rule 15a-6 promulgated under the US Securities Exchange Act of 1934, as amended, and as interpreted by the staff of the US Securities and Exchange Commission. This transmission is not intended for use by any person or entity that is not a major U.S institutional investor. If you have received this transmission and are not a major U.S institutional investor, you are instructed not to read, rely on or reproduce the contents hereof, and to destroy this research or return it to Swedbank AB or to Swedbank.

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