When viewing and using this report, the following has to be considered:

• ESMA publishes this report solely for the purpose of providing an example to the public as to how the existing requirements and guidance on the ESEF may be applied; in particular, it does not provide any new policy or guidance.
• The published material is not providing and may not be considered to provide an interpretation of any rules or regulations of any source whatsoever, including as regards compliance with Article 4(7) of the Transparency Directive.
• ESMA does not accept responsibility or liability with regard to the published material.
• No party should infer from the published report or the manner of its presentation how financial statements, annual financial reports or regulated information should be drawn up. The published report only aims to provide an example of the electronic format of such information.
• No party should infer from the published report which issuers are subject to the obligation to prepare their annual financial reports in the ESEF format nor which issuers are subject to the obligation to tag the financial statements contained therein. In this regard, it is relevant to highlight that (1) GLEIF is not subject to the obligations contained in Article 4(7) of the Transparency Directive; and (2) preparers of individual financial statements are not subject to the tagging obligations contained in Article 4 of the ESEF Regulation (since those only apply to preparers of consolidated financial statements).
• As the ESEF Regulation and the ESEF Reporting Manual are regularly updated, preparers should be aware of the need to continue to monitor whether new requirements and guidance become applicable or available.