(4)The reduced content of the EU Follow-on prospectus and of the EU Growth issuance prospectus differs depending on whether it is drawn up for equity or non-equity securities. Given that certain equity securities such as specific types of convertible, exchangeable, and derivative securities are similar to non-equity securities prior to conversion or before the rights they confer are exercised, it is appropriate to apply the disclosure rules for equity securities to shares and other transferable securities equivalent to shares and make the other types of equity securities subject to the disclosure rules applicable to non-equity securities while including the relevant additional information referred to in Section 3 of Chapter II of Delegated Regulation (EU) 2019/980.