Obbligazione Lufthansa Deutsche AG 2.875% ( XS2408458730 ) in EUR

Emittente Lufthansa Deutsche AG
Prezzo di mercato 100 EUR  ▲ 
Paese  Germania
Codice isin  XS2408458730 ( in EUR )
Tasso d'interesse 2.875% per anno ( pagato 1 volta l'anno)
Scadenza 16/05/2027 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Deutsche Lufthansa AG XS2408458730 in EUR 2.875%, scaduta


Importo minimo 100 000 EUR
Importo totale 900 000 000 EUR
Descrizione dettagliata Deutsche Lufthansa AG è una compagnia aerea tedesca, la più grande d'Europa per passeggeri trasportati, operante con diverse compagnie aeree sussidiarie e impegnata in servizi di manutenzione aerea e gestione di aeroporti.

The Obbligazione issued by Lufthansa Deutsche AG ( Germany ) , in EUR, with the ISIN code XS2408458730, pays a coupon of 2.875% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 16/05/2027







Base Prospectus
8 November 2021

This document constitutes the base prospectus of Deutsche Lufthansa Aktiengesellschaft in respect of non-equity
securities within the meaning of Art. 2 (c) of Regulation (EU) 2017/1129 of the European Parliament and of the
Council of 14 June 2017 (as amended, the "Prospectus Regulation") for the purposes of Article 8(1) of the
Prospectus Regulation (the "Base Prospectus").

Deutsche Lufthansa Aktiengesellschaft
(Cologne, Federal Republic of Germany)
as Issuer
EUR 10,000,000,000
Debt Issuance Programme
(the "Programme")
In relation to notes issued under this Programme, application has been made to the Commission de Surveillance du Secteur
Financier (the "CSSF") of the Grand Duchy of Luxembourg ("Luxembourg") in its capacity as competent authority under the
Luxembourg act relating to prospectuses for securities dated 16 July 2019 (Loi du 16 juillet 2019 relative aux prospectus pour
valeurs mobilières et portant mise en oeuvre du règlement (UE) 2017/1129, the "Luxembourg Law") for approval of this Base
Prospectus.
The CSSF only approves this Base Prospectus as meeting the standards of completeness, comprehensibility and consistency
imposed by the Prospectus Regulation. Such approval should not be considered as an endorsement of the economic or financial
opportunity of the operation or the quality and solvency of the Issuer or of the quality of the Notes that are the subject of this Base
Prospectus. Investors should make their own assessment as to the suitability of investing in the Notes.
By approving this Base Prospectus, the CSSF does not assume any responsibility as to the economic and financial soundness of
any issue of Notes under the Programme and the quality or solvency of the Issuer.
Application has been made to list Notes issued under the Programme on the official list of the Luxembourg Stock Exchange and
to trade Notes on the regulated market or on the professional segment of the regulated market of the "Bourse de Luxembourg".
The Luxembourg Stock Exchange's regulated market is a regulated market for the purposes of the Market in Financial Instruments
Directive 2014/65/EU, as amended or superseded, (the "Regulated Market"). Notes issued under the Programme may also not
be listed at all.
The Issuer has requested the CSSF in its capacity as competent authority under the Prospectus Regulation to provide the competent
authorities in the Federal Republic of Germany, the Republic of Austria and the Republic of Ireland with a certificate of approval
attesting that the Base Prospectus has been drawn up in accordance with the Prospectus Regulation (the "Notification"). The
Issuer may request the CSSF to provide competent authorities in additional member states within the European Economic Area
with a Notification.
Arranger
Deutsche Bank

Dealers

Barclays
Credit Suisse
Deutsche Bank
Société Générale
J.P. Morgan
Morgan Stanley
Corporate & Investment Banking
UBS Investment Bank
UniCredit

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EMEA 132084198



This Base Prospectus will be published in electronic form on the website of the Luxembourg Stock Exchange (www.bourse.lu)
as well as on the website of Lufthansa (www.lufthansagroup.com). It replaces the base prospectus of the Issuer relating to the
Programme dated 1 July 2021. This Base Prospectus is valid for a period of twelve months after the date of its approval. The
validity ends upon expiration of 8 November 2022. The obligation to supplement this Base Prospectus in the event of significant
new factors, material mistakes or material inaccuracies does not apply when this Base Prospectus is no longer valid.
Potential investors should be aware that any website referred to in this document does not form part of this Base Prospectus and
has not been scrutinised or approved by the CSSF.

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RESPONSIBILITY STATEMENT
Deutsche Lufthansa Aktiengesellschaft ("Lufthansa" or "Lufthansa AG" or the "Issuer", together with its
consolidated group companies, the "Lufthansa Group") with its registered office in Cologne, Federal Republic
of Germany accepts responsibility for the information given in this Base Prospectus and for the information
which will be contained in the final terms (the "Final Terms").
The Issuer hereby declares that, having taken all reasonable care to ensure that such is the case, the information
contained in this Base Prospectus for which it is responsible is, to the best of its knowledge, in accordance with
the facts and contains no omission likely to affect its import.
By approving this Base Prospectus, the CSSF assumes no responsibility as to the economic and financial
soundness of the transaction and the quality or solvency of the Issuer pursuant to Article 6 (4) of the
Luxembourg Law.
IMPORTANT NOTICE
This Base Prospectus should be read and understood in conjunction with any supplement hereto and with any
other documents incorporated herein by reference. Full information on the Issuer and any tranche of Notes (each
a "Tranche of Notes") is only available on the basis of the combination of the Base Prospectus, any supplement
thereto and the relevant Final Terms.
The Issuer has confirmed to the Dealers (as defined in "General Description of the Programme") that this Base
Prospectus contains all information which is necessary to enable investors to make an informed assessment of
the assets and liabilities, financial position, profit and losses and prospects of the Issuer and the rights attaching
to the Notes which is material in the context of the Programme; that the information contained herein with
respect to the Issuer and the Notes is accurate and complete in all material respects and is not misleading; that
any opinions and intentions expressed herein are honestly held and are based on reasonable assumptions; that
there are no other facts with respect to the Issuer or the Notes, the omission of which would make this Base
Prospectus as a whole or any of such information or the expression of any such opinions or intentions
misleading; that the Issuer has made all reasonable enquiries to ascertain all facts material for the purposes
aforesaid.
The Issuer has undertaken with the Dealers (i) to supplement this Base Prospectus or publish a new Base
Prospectus in the event of any significant new factor, material mistake or inaccuracy relating to the information
included in this Base Prospectus in respect of Notes issued on the basis of this Base Prospectus which is capable
of affecting the assessment of the Notes and which arises or is noted between the time when this Base Prospectus
has been approved and the final closing of any Tranche of Notes offered to the public or, as the case may be,
when trading of any Tranche of Notes on a regulated market begins, and (ii) where approval of the CSSF of any
such document is required, to have such document approved by the CSSF.
No person has been authorised to give any information which is not contained in or not consistent with this Base
Prospectus or any other document entered into in relation to the Programme or any information supplied by the
Issuer or any other information in the public domain and, if given or made, such information must not be relied
upon as having been authorised by the Issuer, the Dealers or any of them.
Neither the Arranger (as defined in "General Description of the Programme") nor any Dealer nor any other
person mentioned in this Base Prospectus, excluding the Issuer, is responsible for the information contained in
this Base Prospectus or any supplement hereto, or any Final Terms or any document incorporated herein by
reference, and accordingly, and to the extent permitted by the laws of any relevant jurisdiction, none of these
persons accepts any responsibility for the accuracy and completeness of the information contained in any of
these documents. This Base Prospectus is valid for 12 months after its approval and this Base Prospectus and
any supplement hereto as well as any Final Terms reflect the status as of their respective dates of issue. The
delivery of this Base Prospectus or any Final Terms and the offering, sale or delivery of any Notes may not be
taken as an implication that the information contained in such documents is accurate and complete subsequent
to their respective dates of issue or that there has been no adverse change in the financial situation of the Issuer
since such date or that any other information supplied in connection with the Programme is accurate at any time

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subsequent to the date on which it is supplied or, if different, the date indicated in the document containing the
same.
The distribution of this Base Prospectus and any Final Terms and the offering, sale and delivery of Notes in
certain jurisdictions may be restricted by law. Persons into whose possession this Base Prospectus or any Final
Terms come are required to inform themselves about and observe any such restrictions. For a description of the
restrictions applicable in the United States of America, the European Economic Area, the United Kingdom,
Japan, Switzerland and Singapore see "Selling Restrictions". In particular, the Notes have not been and will not
be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and include
Notes in bearer form that are subject to tax law requirements of the United States of America; subject to certain
exceptions, Notes may not be offered, sold or delivered within the United States of America or to United States
persons.
The Notes may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are
accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of
the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration
Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the Notes must be made in
accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable
securities laws. Securities legislation in certain provinces or territories of Canada may provide a purchaser with
remedies for rescission or damages if this Base Prospectus (including any amendment thereto) contains a
misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within
the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser
should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for
particulars of these rights or consult with a legal advisor. If applicable, pursuant to section 3A.3 (or, in the case
of securities issued or guaranteed by the government of a non-Canadian jurisdiction, section 3A.4) of National
Instrument 33-105 Underwriting Conflicts (NI 33-105), the Dealers are not required to comply with the
disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.
Each potential investor in Notes must determine the suitability of that investment in light of its own
circumstances. In particular, each potential investor should:
(i)
have sufficient knowledge and experience to make a meaningful evaluation of the relevant Notes, the
merits and risks of investing in the relevant Notes and the information contained or incorporated by
reference in this Base Prospectus or any applicable supplement;
(ii)
have access to, and knowledge of, appropriate analytical tools to evaluate, in the context of its particular
financial situation and the investment(s) it is considering, an investment in the Notes and the impact the
Notes will have on its overall investment portfolio;
(iii)
have sufficient financial resources and liquidity to bear all of the risks of an investment in the relevant
Notes, including where principal or interest is payable in one or more currencies, or where the currency
for principal or interest payments is different from the potential investor's currency;
(iv)
understand thoroughly the terms of the relevant Notes and be familiar with the behaviour of any relevant
indices and financial markets; and
(v)
be able to evaluate (either alone or with the help of a financial adviser) possible scenarios for economic,
interest rate and other factors that may affect its investment and its ability to bear the applicable risks.
MiFID II product governance / target market
The Final Terms in respect of any Notes may include a legend entitled "MiFID II Product Governance" which
will outline the target market assessment in respect of the Notes and which channels for distribution of the Notes
are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor") should
take into consideration the target market assessment; however, a distributor subject to Directive 2014/65/EU (as
amended, "MiFID II") is responsible for undertaking its own target market assessment in respect of the Notes
(by either adopting or refining the target market assessment) and determining appropriate distribution channels.
A determination will be made in relation to each issue about whether, for the purpose of the MiFID Product
Governance rules under EU Delegated Directive 2017/593 (the "MiFID II Product Governance Rules"), any

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Dealer subscribing for any Notes is a manufacturer in respect of such Notes, but otherwise neither the Arranger
nor the Dealers nor any of their respective affiliates will be a manufacturer for the purpose of the MiFID II
Product Governance Rules.
UK MiFIR product governance / target market
The Final Terms in respect of any Notes may include a legend entitled "UK MiFIR Product Governance"
which will outline the target market assessment in respect of the Notes and which channels for distribution of
the Notes are appropriate. Any person subsequently offering, selling or recommending the Notes
(a "distributor") should take into consideration the target market assessment; however, a distributor subject to
the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product
Governance Rules") is responsible for undertaking its own target market assessment in respect of the Notes
(by either adopting or refining the target market assessment) and determining appropriate distribution channels.
A determination will be made in relation to each issue about whether, for the purpose of the UK MiFIR Product
Governance Rules, any Dealer subscribing for any Notes is a manufacturer in respect of such Notes, but
otherwise neither the Arranger nor the Dealers nor any of their respective affiliates will be a manufacturer for
the purpose of the UK MiFIR Product Governance Rules.
Important - EEA Retail Investors - If the Final Terms in respect of any Notes include a legend entitled
"Prohibition of Sales to EEA Retail Investors", the Notes are not intended to be offered, sold or otherwise
made available to and should not be offered, sold or otherwise made available to any retail investor in the
European Economic Area (the "EEA"). For these purposes, a retail investor means a person who is one (or
more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the
meaning of Directive 2016/97/EU, as amended, where that customer would not qualify as a professional client
as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Prospectus
Regulation. Consequently no key information document required by Regulation (EU) No 1286/2014 (as
amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to
retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making
them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.
Important - UK Retail Investors - If the Final Terms in respect of any Notes include a legend entitled
"Prohibition of Sales to UK Retail Investors", the Notes are not intended to be offered, sold or otherwise
made available to and should not be offered, sold or otherwise made available to any retail investor in the United
Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client
as defined in point (8) of Article 2 of Regulation (EU) 2017/565 as it forms part of English law by virtue of the
European Union (Withdrawal) Act 2018 ("EUWA"); or (ii) a customer within the meaning of the provisions of
the Financial Services and Markets Act 2000, as amended (the "FSMA") and any rules or regulations made
under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional
client as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of English law by
virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of the Prospectus Regulation as it
forms part of English law by virtue of the EUWA (the "UK Prospectus Regulation"). Consequently, no key
information document required by Regulation (EU) No 1286/2014 as it forms part of English law by virtue of
the EUWA (the "UK PRIIPs Regulation") for offering or selling the Notes or otherwise making them available
to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making
them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
The language of the Base Prospectus is English. The German versions of the English language terms and
conditions (the "Terms and Conditions") are shown in the Base Prospectus for additional information. As to
form and content, and all rights and obligations of the holders of Notes and the Issuer under the Notes to be
issued, German is the controlling legally binding language if so specified in the relevant Final Terms.
Each Dealer and/or each further financial intermediary subsequently reselling or finally placing Notes
issued under the Programme is entitled to use the Base Prospectus, for the respective offer period so
determined in the Final Terms, as set out in "Consent to the use of the Base Prospectus" below.
This Base Prospectus may only be used for the purpose for which it has been published.

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This Base Prospectus and any Final Terms may not be used for the purpose of an offer or solicitation by
anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom
it is unlawful to make such an offer or solicitation.
This Base Prospectus and any Final Terms do not constitute an offer or an invitation to subscribe for or
purchase any Notes.
In connection with the issue of any Tranche of Notes under the Programme, the Dealer or Dealers (if any)
named as stabilising manager(s) in the applicable Final Terms (or persons acting on behalf of a stabilising
manager) may over-allot Notes or effect transactions with a view to supporting the price of the Notes at
a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur.
Any stabilisation action may begin at any time after the adequate public disclosure of the terms of the
offer of the relevant Tranche of the Notes and, if begun, may cease at any time, but it must end no later
than the earlier of 30 days after the Issue Date (as defined in the relevant Final Terms) of the relevant
Tranche of Notes and 60 days after the date of the allotment of the relevant Tranche of Notes. Any
stabilisation action or over-allotment must be conducted by the relevant stabilising manager(s) (or
person(s) acting on behalf of any stabilising manager(s)) in accordance with all applicable laws and rules.
Amounts payable under Notes with a floating interest rate ("Floating Rate Notes") are calculated by reference
to (i) EURIBOR (Euro Interbank Offered Rate) which is provided by the European Money Markets Institute
(EMMI) or (ii) SONIA® which is currently provided by the Bank of England or (iii) SOFR®, which is currently
provided by the Federal Reserve Bank of New York. As at the date of this Base Prospectus, SONIA® and SOFR®
are not required to be registered by virtue of Article 2 of Regulation (EU) 2016/1011 of the European Parliament
and of the Council of 8 June 2016, as amended (the "Benchmark Regulation"). As at the date of this Base
Prospectus, EMMI appears on the register of administrators and benchmarks established and maintained by the
European Securities and Markets Authority (ESMA) pursuant to Article 36 of the Benchmark Regulation (the
"Benchmarks Register"), while the Bank of England and the Federal Reserve Bank of New York do not appear
on the Benchmarks Register.
Any websites referred to in this Base Prospectus for information purposes only, does not form part of the Base
Prospectus and has not been scrutinised or approved by the CSSF.
In this Base Prospectus, all references to "EUR" or "euro" are to the euro, the single currency of the member
states participating in the European Monetary Union, to "GBP" or to "Sterling" are to British pounds the official
currency of the United Kingdom, to "USD" or to "U.S. dollar" are to U.S. dollar, the official currency of the
United States of America, to "CHF" are to the lawful currency of Switzerland.
FORWARD-LOOKING STATEMENTS
This Base Prospectus contains certain forward-looking statements. A forward-looking statement is a statement
that does not relate to historical facts and events. They are based on analyses or forecasts of future results and
estimates of amounts not yet determinable or foreseeable. These forward-looking statements are identified by
the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may",
"plan", "predict", "project", "will" and similar terms and phrases, including references and assumptions. This
applies, in particular, to statements in this Base Prospectus containing information on future earning capacity,
plans and expectations regarding Lufthansa Group's business and management, its growth and profitability, and
general economic and regulatory conditions and other factors that affect it.
Forward-looking statements in this Base Prospectus are based on current estimates and assumptions that the
Issuer makes to the best of its present knowledge. These forward-looking statements are subject to risks,
uncertainties and other factors which could cause actual results, including Lufthansa Group's financial condition
and results of operations, to differ materially from and be worse than results that have expressly or implicitly
been assumed or described in these forward-looking statements. Lufthansa Group's business is also subject to
a number of risks and uncertainties that could cause a forward-looking statement, estimate or prediction in this
Base Prospectus to become inaccurate. Accordingly, investors are strongly advised to read the following
sections of this Base Prospectus: "Risk Factors" and "Deutsche Lufthansa Aktiengesellschaft as Issuer". These
sections include more detailed descriptions of factors that might have an impact on Lufthansa Group's business
and the markets in which it operates.

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In light of these risks, uncertainties and assumptions, future events described in this Base Prospectus may not
occur. In addition, neither the Issuer nor the Dealers assume any obligation, except as required by law, to update
any forward-looking statement or to conform these forward-looking statements to actual events or
developments.

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ALTERNATIVE PERFORMANCE MEASURES
This Base Prospectus contains certain alternative performance measures ("APMs") which are not recognised
financial measures under the International Financial Reporting Standards as adopted by the European Union
("IFRS"). Such APMs must be considered only in addition to, and not as a substitute for or superior to, financial
information prepared in accordance with IFRS included elsewhere in this Base Prospectus. Investors are
cautioned not to place undue reliance on these APMs and are also advised to review them in conjunction with
the financial statements of the Issuer including the related notes.




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TABLE OF CONTENTS
Page
General Description of the Programme .......................................................................................................... 12
Risk Factors ...................................................................................................................................................... 14
Risks related to Lufthansa Group's business activities and operations ................................................. 14
Risks related to Lufthansa Group's financial situation ......................................................................... 33
Risks related to the airline industry ....................................................................................................... 41
Legal, Regulatory and Tax Risks .......................................................................................................... 43
Environmental, Social and Governance Risks ...................................................................................... 50
Risks related to the nature of the Notes ................................................................................................. 54
Risks related to the Terms and Conditions of the Notes ....................................................................... 55
Consent to the use of the Base Prospectus ...................................................................................................... 58
Deutsche Lufthansa Aktiengesellschaft und Lufthansa Group .................................................................... 59
General Information on the Issuer and the Group ................................................................................. 59
Formation, Incorporation, Registered Corporate Seat, Commercial Name, LEI .................................. 59
History of the Issuer .............................................................................................................................. 59
Business Address, Term, Fiscal Year and Corporate Purpose .............................................................. 59
Group Structure ..................................................................................................................................... 59
Auditors ................................................................................................................................................. 60
Current Share Capital; Shares ............................................................................................................... 61
Shareholder Structure ............................................................................................................................ 64
Administrative, Management and Supervisory Bodies ......................................................................... 65
Credit Ratings ........................................................................................................................................ 67
Historical Annual and Interim Financial Information ........................................................................... 67
Trend Information ................................................................................................................................. 68
Third Party Information and Declaration of any Interest ...................................................................... 68
Capitalization and Indebtedness ............................................................................................................ 70
Capitalization ......................................................................................................................................... 70
Indebtedness .......................................................................................................................................... 70
Indirect and Contingent Indebtedness ................................................................................................... 71
Working Capital Statement ................................................................................................................... 71
No Significant Change .......................................................................................................................... 71
Selected Consolidated Financial Information of Lufthansa AG............................................................ 71
Recent Developments ............................................................................................................................ 73
The Stabilization Package ..................................................................................................................... 73
German Stabilization Package ............................................................................................................... 74
Swiss Stabilization Package .................................................................................................................. 76
Austrian Stabilization Package .............................................................................................................. 76
Belgian Stabilization Package ............................................................................................................... 77
Approval of the Stabilization Packages ................................................................................................. 77
State Aid in the United States ................................................................................................................ 77
Additional Financing Measures ............................................................................................................. 77
Markets and Competition ...................................................................................................................... 78
Global Passenger Airline Industry ......................................................................................................... 78
Home Markets ....................................................................................................................................... 81

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Overview of the Aviation Cargo Market ............................................................................................... 81
Overview of MRO and Catering Market ............................................................................................... 83
Competition ........................................................................................................................................... 84
Business ................................................................................................................................................. 85
Overview ............................................................................................................................................... 85
Business Segments ................................................................................................................................ 85
Operations ............................................................................................................................................. 91
Alliances and Cooperation Arrangements ............................................................................................. 94
Employees ............................................................................................................................................. 95
Insurance ............................................................................................................................................... 96
Sales and Marketing .............................................................................................................................. 96
Facilities ................................................................................................................................................ 96
Environmental, Social and Governance ................................................................................................ 96
Information Technology ........................................................................................................................ 98
Intellectual Property .............................................................................................................................. 98
Legal and Tax Proceedings ................................................................................................................... 99
Material Agreements ........................................................................................................................... 100
Issue Procedures ............................................................................................................................................. 104
General ................................................................................................................................................ 104
Options for sets of Terms and Conditions ........................................................................................... 104
Documentation of the Conditions ........................................................................................................ 104
Determination of Options / Completion of Placeholders .................................................................... 104
Controlling Language .......................................................................................................................... 105
Terms and Conditions of the Notes (English Language Version) .............................................................. 106
OPTION I ­ Terms and Conditions that apply to Notes with fixed interest rates ............................... 107
OPTION II ­ Terms and Conditions that apply to Notes with floating interest rates ......................... 124
Terms and Conditions of the Notes (German Language Version) ............................................................. 152
OPTION I ­ Anleihebedingungen für Schuldverschreibungen mit fester Verzinsung ....................... 153
OPTION II ­ Anleihebedingungen für Schuldverschreibungen mit variabler Verzinsung ................. 172
Form of Final Terms ...................................................................................................................................... 205
Description of Rules Regarding Resolution of Holders ............................................................................... 224
Use of Proceeds ............................................................................................................................................... 226
Taxation ........................................................................................................................................................... 227
Selling Restrictions ......................................................................................................................................... 231
General ................................................................................................................................................ 231
United States of America ..................................................................................................................... 231
European Economic Area .................................................................................................................... 233
United Kingdom .................................................................................................................................. 233
Japan .................................................................................................................................................... 235
Switzerland .......................................................................................................................................... 235
Singapore ............................................................................................................................................. 235
General Information ...................................................................................................................................... 237
Interests of Natural and Legal Persons involved in the Issue/Offer .................................................... 237
Authorisation ....................................................................................................................................... 237
Listing and Admission to Trading ....................................................................................................... 237
Documents on Display ........................................................................................................................ 237
Documents Incorporated by Reference ........................................................................................................ 239
Table of Documents incorporated by Reference ................................................................................. 239
Availability of incorporated Documents ............................................................................................. 240

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Document Outline