Berlin Global Advisors GmbH (hereafter referred to as “BGA”, “we” or “our”) is not a registered investment advisor or a broker-dealer. It is not affiliated with, nor does it recommend any firm that performs any trading services of any financial instruments.

We only ever provide our strategic consulting services in exchange for monetary compensation based on a pre-arranged negotiated fee, never in exchange for, or as an inducement for, any other services we offer or for services offered by another firm.

Any material we provide should never be construed as an offer or solicitation to buy, sell, or hold securities. The information contained in our communications should be viewed as information and is solely a demonstration of our scope and capabilities to help your firm in its primary research efforts on potential geopolitical, policy and regulatory outcomes. It is not intended to be investment advice.

BGA does not recommend, imply or suggest any investment strategy on any financial instrument nor does it provide any opinion on the present or future value of any financial instrument. Accordingly, under articles 36(1) & 36(2) of the MiFID Org Regulation, this communication is neither investment research nor non-independent research.