This information is provided by OTP Banka Srbija a.d. Novi Sad, a member of OTP Group, as a service to its customers only. The information and opinions provided therein has been prepared in good faith on the basis of information which is either publicly available or obtained from sources which OTP Banka Srbija a.d. Novi Sad reasonably believes reliable, and OTP Banka Srbija a.d. Novi Sad does not represent or warrant their veracity, accuracy, relevance including relevance of the legislation provided as links hereto, or completeness. Such publicly available information may be incomplete or condensed and no responsibility or liability (express or implied) is accepted for any errors, omissions or misstatement by OTP Banka Srbija a.d. Novi Sad. Information herein reflects the market situation at the time of writing and may change as market or regulatory conditions and circumstances develop. Figures relate to the past and indicate historic data. Past performance is not a reliable indicator of future results. No representation, warranty or undertaking, express or implied is made and no responsibility is taken or accepted by OTP Banka Srbija a.d. Novi Sad as to or in relation to the accuracy or completeness or otherwise of the material or as to the reasonableness of any assumption contained herein. The estimates and opinions included herein are subject to change without notice and solely reflect the viewpoint of the authors thereof and are not intended, and shall not be interpreted, as an offer by or OTP Banka Srbija a.d. Novi Sad or any of its officers, directors, employees or agents to buy, sell, hold, hedge or otherwise deal with any currency, security, commodity or any kind of swap, forward rate, futures, options, derivatives or other contract or product whatsoever or an investment advice. It does not constitute legal, tax and accounting advice. Any person acting or behaving, or refraining from acting or behaving, in reliance on, or under the guidance of, the information provided or opinions expressed or recommendations made herein shall do so exclusively at its own risk based on independent assessment and without any liability for the result of its actions on the part of OTP Banka Srbija a.d. Novi Sad or any of its officers, directors, employees or agents. Any such assessment should involve the complex consideration of the legal, tax, accounting, regulatory, financial, credit and other related aspects of any decision in respect of the information contained herein in order to be capable of making a well advised decision based on opinions from competent and independent advisors or other experts. OTP Banka Srbija a.d. Novi Sad or any of its officers, directors, employees or agents shall not be liable for any failure to obtain such advice.

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