Global EV Update

Research evidence excerpt

Global EV Update

cting in those

capacities. In addition, Macquarie and associated personnel may at any time buy, sell or hold interests in financial instruments referred to in this information either on behalf

of clients or as principal. Therefore, this information should not be relied upon as either independent or objective from the interests of Macquarie and associated personnel

which may conflict with your interests.

To the extent permitted by law, Macquarie accepts no responsibility or liability (in negligence or otherwise) for loss or damage resulting from the use of or relating to any

error in the information provided. This information has been prepared in good faith and is based on information obtained from sources believed to be reliable, however,

Macquarie is not responsible for information stated to be obtained from third party sources. Any modelling, scenario analysis, past or simulated past performance (including

back-testing) contained in this information is no indication as to future performance.

The financial products and/or services referred to in this information may not be eligible for sale in all jurisdictions. This information is directed at institutional clients

who have professional experience as defined by applicable law and/or regulation in the relevant jurisdiction. It is not for retail clients and it is not for distribution into any

jurisdiction where this information is not permitted. For important country-specific disclosures regarding information from Macquarie Sales and Trading, please click on the

region relevant to you at: www.macquarie.com/salesandtradingdisclaimer.

Other than Macquarie Bank Limited ABN 46 008 583 542 (“MBL”) any entity referred to on this page is not an authorised deposit-taking institution for the