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Disruptive Technology Equities Global Thematic research December 2021 By: Davey Jose, Frank Lee, Nicolas Cote-Colisson and Frank He (S1700517120005) www.research.hsbc.com SPOTLIGHT The Metaverse Age Investing in delivery, infrastructure and content There are three major investable areas for the emerging metaverse: delivery (headsets), infrastructure and content We present stocks listed in Asia, Europe and the US that our equity analysts believe could ride the wave of this disruptive technology… …and detail the regulatory landscape, ESG implications and our HSBC Disruption Framework Disclosures & Disclaimer: This report must be read with the disclosures and the analyst certifications in the Disclosure appendix, and with the Disclaimer, which forms part of it.