FFO Still Dragged by Financing Costs, Dividend Back

Research evidence excerpt

FFO Still Dragged by Financing Costs, Dividend Back

views expressed in this research report.

I, Stephane Afonso, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject

company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed

in this research report.

Registration of non-US analysts: Stephanie Dossmann is employed by Jefferies GmbH, a non-US affiliate of Jefferies LLC and is not registered/qualified as a

research analyst with FINRA. This analyst(s) may not be an associated person of Jefferies LLC, a FINRA member firm, and therefore may not be subject to the

FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held by a research analyst.

Registration of non-US analysts: Pierre-Emmanuel Clouard, CFA is employed by Jefferies GmbH, a non-US affiliate of Jefferies LLC and is not registered/

qualified as a research analyst with FINRA. This analyst(s) may not be an associated person of Jefferies LLC, a FINRA member firm, and therefore may not

be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held by a research

analyst.

Registration of non-US analysts: Stephane Afonso is employed by Jefferies GmbH, a non-US affiliate of Jefferies LLC and is not registered/qualified as a

As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receives compensation

based in part on the overall performance of the firm, including investment banking income.