Spotify Technology S.A. CEDEAR

Spotify Technology S.A. CEDEAR is a depositary receipt that represents underlying ordinary shares of Spotify Technology S.A., enabling Argentine investors to access the company’s global equity through the local market. Each receipt reflects a predefined ratio to the original shares and allows pricing in local currency while tracking the performance of the international security. Spotify Technology S.A. operates a leading audio streaming platform with two core segments: Premium subscriptions and an Ad-Supported tier, serving music and podcast listeners worldwide. The business spans content licensing, distribution, marketing, and user engagement tools for creators and advertisers, positioning it within internet content and communication services. Through the CEDEAR structure, investors gain exposure to a global digital media franchise with revenues tied to user growth, subscription conversion, advertising demand, and content economics, while trades, settlement, and custody occur within Argentina’s market infrastructure. This instrument is used for portfolio diversification and access to international technology-enabled media, with local price dynamics influenced by the underlying share, the CEDEAR ratio, and currency movements.