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Disclosures


SALES AND TRADING DISCLAIMER


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Unless expressly stated otherwise, any views and/or commentary contained in this
communication are of the Barclays Trading and/or Distribution desks, have not
been produced by Barclays’ Research Department and are not Investment Research
or Investment Recommendations. This communication does not contain a personal
recommendation. Where an Investment Recommendation is given by Barclays Trading
and/or Distribution desk, it is a marketing communication for the purposes of
the relevant conduct of business requirements applicable to the communication.
For important disclosures relating to this communication, please see below.

This communication has been prepared by Barclays. “Barclays” means any entity
within the Barclays Group of companies, where “Barclays Group” means Barclays
Bank PLC, Barclays PLC, Barclays Bank Ireland PLC and any of their subsidiaries,
affiliates, ultimate holding company and any subsidiaries or affiliates of such
holding company.

BARCLAYS IS A FULL SERVICE INVESTMENT BANK. In the normal course of offering
investment banking products and services to clients, Barclays may act in several
capacities (including issuer, market maker and/or liquidity provider,
underwriter, distributor, index sponsor, swap counterparty and calculation
agent) simultaneously with respect to a product, giving rise to potential
conflicts of interest which may impact the performance of a product. This
communication is from a Barclays Sales and/or Trading desk and is not a product
of the Barclays Research department.  Any views expressed may differ from those
of Barclays Research. Any views and/or commentary in this communication are of
the Barclays Sales and/or Trading desk from which it originates (the “Authors”).
This communication has not been produced, reviewed or approved by Barclays’s
Research department, and is not subject to any prohibition on dealing ahead of
the dissemination of research.  Any views expressed herein may not be objective
or independent of the interests of the Authors or other Barclays Sales and/or
Trading desks, who are active participants in the markets, investments or
strategies referred to in this communication.  This communication is not a
personal recommendation and do not take into account whether any product or
transaction is suitable for any particular investor. Barclays may at any time
acquire, hold or dispose of long or short positions (including hedging and
trading positions) and trade or otherwise effect transactions for their own
account or the account of their customers in the products referred to herein
which may impact the performance of a product.

THIS COMMUNICATION IS PROVIDED FOR INFORMATION PURPOSES ONLY AND IT IS SUBJECT
TO CHANGE. IT IS INDICATIVE ONLY AND IS NOT BINDING. Barclays is not offering to
sell or seeking offers to buy any product or enter into any transaction. Any
offer or entry into any transaction requires Barclays’ subsequent formal
agreement which will be subject to internal approvals and execution of binding
transaction documents. Neither Barclays nor any of its directors, officers,
employees, representatives or agents, accepts any liability whatsoever for any
direct, indirect or consequential losses (in contract, tort or otherwise)
arising from the use of this communication or its contents or reliance on the
information contained herein, except to the extent this would be prohibited by
law or regulation. Barclays is acting solely as principal and not as fiduciary.
Barclays does not provide, and has not provided, any investment advice or
personal recommendation to you in relation to the transaction and/or any related
securities described herein and is not responsible for providing or arranging
for the provision of any general financial, strategic or specialist advice,
including legal, regulatory, accounting, model auditing or taxation advice or
services or any other services in relation to the transaction and/or any related
securities described herein. Accordingly, Barclays is under no obligation to,
and shall not, determine the suitability for you of the transaction described
herein; your individual circumstances have not been assessed. You must
determine, on your own behalf or through independent professional advice, the
merits, terms, conditions and risks of the transaction described herein.

Barclays is not responsible for information stated to be obtained or derived
from third party sources or statistical services. Any past or simulated past
performance including back-testing, modelling or scenario analysis contained
herein is no indication as to future performance. No representation is made as
to the accuracy of the assumptions made within, or completeness of, any
modelling, scenario analysis or back-testing. All opinions and estimates are
given as of the date hereof and are subject to change. The value of any
investment may also fluctuate as a result of market changes. Barclays is not
obliged to inform the recipients of this communication of any change to such
opinions or estimates.

This document is being directed at persons who are professional investors and is
not intended for retail client use. Not For Further Distribution or Distribution
To Retail Clients. For Discussion Purposes Only. Subject to any specific
disclosures applicable to your jurisdiction in the ‘IMPORTANT DISCLOSURES’
section below and/or any contractual agreement between Barclays and a Client
that explicitly contradict this notice, information or materials (e.g. morning
briefings, monthly newsletters, market structure updates, trade ideas
(“Content”)) that are produced by a Barclays Equities Trading and/or
Distribution desk and not produced by the Barclays Research department are
provided to clients established in an EEA Restricted Content Jurisdiction by
Barclays Bank Ireland PLC (a bank authorised by the Central Bank of Ireland
whose registered office is at 1 Molesworth Street, Dublin 2, Ireland). For the
purposes of this notice, an EEA Restricted Content Jurisdiction shall mean any
jurisdiction in the EEA, excluding: Belgium, Denmark, France, Germany, Ireland,
Italy, Netherlands, Norway, Spain, Sweden (as may be updated from time to time).

For important regional disclosures you must read, click on the link relevant to
your region.  Please contact your Barclays representative if you are unable to
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EMEA Disclosures

APAC Disclosures - Investor Classification

APAC Disclosures - Hong Kong Securities & Futures Commission Code of Conduct on
Bookbuilding and Placing Activities

US Disclosures

This communication is confidential and is for the benefit and internal use of
the recipient for the purpose of considering the securities/transaction
described herein, and no part of it may be reproduced, distributed or
transmitted without the prior written permission of Barclays. Barclays offers
premier investment banking products and services to its clients through Barclays
Bank PLC, Barclays Bank Ireland PLC and certain other subsidiaries and
affiliates. The key details of each relevant Barclays entity are set out below
and will apply as relevant to your legal and/or regulatory relationship with
Barclays:

Communications from Barclays Bank PLC: Barclays Bank PLC is authorised by the
Prudential Regulation Authority and regulated by the Financial Conduct Authority
and the Prudential Regulation Authority and is a member of the London Stock
Exchange. Barclays Bank PLC is registered in England No. 1026167 with its
registered office at 1 Churchill Place, London E14 5HP.

Communications from Barclays Bank Ireland PLC: Barclays Bank Ireland PLC is
regulated by the Central Bank of Ireland. Registered in Ireland. Registered
Number: 396330. Registered Office: One Molesworth Street, Dublin 2, D02 RF29. A
list of names and personal details of every director of the company is available
for inspection to the public at the company’s registered office for a nominal
fee. Calls may be recorded for security and other purposes.

Communications from Barclays Capital Securities Limited: Barclays Capital
Securities Limited is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential Regulation
Authority and is a member of the London Stock Exchange. Barclays Capital
Securities Limited is registered in England No. 1929333 with its registered
office at 1 Churchill Place, London E14 5HP.

 © Barclays 2024


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