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No Recommondation

Estimates of analysts are presented solely for the information of investors. Opinions and estimates contained in these materials are not under the scope of investment advisory services. Investment advisory services are given according to the investment advisory contract, signed between the intermediary institutions, portfolio management companies, investment banks and the clients.

Opinions and recommendations contained in these materials reflect the personal views of the analysts who supplied them. The investments discussed or recommended in these materials may involve significant risk, may be illiquid and may not be suitable for all investors. Investors must make their decisions based on their specific investment objectives and financial positions and with the assistance of independent advisors, as they believe necessary. No responsibility or liability is or will be accepte by TAV Airports Holdingor any of its employees or agents as to or in relation to the accuracy, completeness or fairness of the information in these materials.

All information in these pages remains the property of the analysts, and may not be disseminated, copied, altered or changed in any way, nor may this information be printed for distribution purposes or forwarded as electronic attachments without their permission. Analysts decision to share the data on TAV's website gives TAV Airports Holding the right to use the data in its IR materials.


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