LatAm Oil & Gas "LightHouse: PBR, YPF (2x), ALPEKA, ORBIA, Fuel Dist...."

Research evidence excerpt

LatAm Oil & Gas "LightHouse: PBR, YPF (2x), ALPEKA, ORBIA, Fuel Dist...."

ch, filial af UBS Europe SE is subject to the joint supervision of the

European Central Bank, the German Central Bank (Deutsche Bundesbank), the German Federal Financial Services Supervisory Authority (Bundesanstalt für

Finanzdienstleistungsaufsicht, "BaFin"), as well as of the Danish Financial Supervisory Authority (Finanstilsynet), to which this publication has not been submitted

for approval. UBS Europe SE is a credit institution constituted under German law in the form of a Societas Europaea, duly authorized by BaFin. Egypt: Securities or

other investment products are not being offered or sold by UBS to the public in Egypt and they have not been and will not be registered with the Egyptian Financial

Regulatory Authority (FRA). France: This publication is not intended to constitute a public offer under French law, it does not constitute a personal recommendation

as it is distributed only for information purposes to clients of UBS Europe SE Succursale de France (a branch of UBS Europe SE), having its registered office at 39, rue

du Colisée, 75008 Paris, France, registered with the “Registre du Commerce et des Sociétés” of Paris under N°844 425 629. UBS Europe SE Succursale de France is

subject to the joint supervision of the European Central Bank, the German Central Bank (Deutsche Bundesbank), the German Federal Financial Services Supervisory

Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin"), as well as of the French "Autorité de contrôle prudentiel et de résolution" and "Autorité des

marchés financiers", to which this publication has not been submitted for approval. UBS Europe SE is a credit institution constituted under German law in the form of