Grupo Financiero Inbursa: Model Update

Research evidence excerpt

Grupo Financiero Inbursa: Model Update

affiliates and/or subsidiaries (collectively J.P. Morgan) make

no representations or warranties whatsoever to the completeness or accuracy of the material provided, except with respect to any disclosures

relative to J.P. Morgan and the Research Analyst's involvement with the issuer that is the subject of the material. Accordingly, no reliance should

be placed on the accuracy, fairness or completeness of the information contained in this material. There may be certain discrepancies with data

and/or limited content in this material as a result of calculations, adjustments, translations to different languages, and/or local regulatory

restrictions, as applicable. These discrepancies should not impact the overall investment analysis, views and/or recommendations of the subject

company(ies) that may be discussed in the material. Artificial intelligence tools may have been used in the preparation of this material, including

assisting in data analysis, pattern recognition, and content drafting for research material. J.P. Morgan accepts no liability whatsoever for any loss

arising from any use of this material or its contents, and neither J.P. Morgan nor any of its respective directors, officers or employees, shall be in

any way responsible for the contents hereof, apart from the liabilities and responsibilities that may be imposed on them by the relevant

regulatory authority in the jurisdiction in question, or the regulatory regime thereunder. Opinions, forecasts or projections contained in this

material represent J.P. Morgan's current opinions or judgment as of the date of the material only and are therefore subject to change without

notice.