INVITE - Energy Transition Beneficiaries: NKT

Research evidence excerpt

INVITE - Energy Transition Beneficiaries: NKT

fic recommendations or

views expressed in this research report.

I, Jacqueline Murdock, 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.

I, Charles Boakye, CFA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies)

I, Yujin Kim, 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.

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

Registration of non-US analysts: Luke Sussams is employed by Jefferies International Limited, 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: Lucas Ferhani is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/