Unless otherwise stated, all information in this document is from Amundi Asset Management SAS and is as of the end of April 2022. Diversification does not guarantee profit or protect against loss. Opinions expressed regarding market and economic trends are those of the author and not necessarily those of Amundi Asset Management SAS and are subject to change at any time depending on market and other conditions. , and there is no guarantee that countries, markets or sectors will perform as expected. These opinions should not be considered investment advice, a stock recommendation or a trading guide for any Amundi product. This document does not constitute an offer or solicitation to buy or sell securities, fund units or services. Investing involves risks, including market, political, liquidity and currency risk. Past performance is not a guarantee or indication of future results.

Date of first use: April 2022

Doc ID: 2167327