Disclosure according to sec. 85 German Securities Trading Act and Art. 20 MAR for company VIB Vermögen AG:

Companies affiliated with Warburg Research manage financial instruments, which are, or the issuers of which are, subject of the research recommendation, in a market based on the provision of buy or sell contracts.

The company compiling the analysis or an affiliated company had reached an agreement on the compilation of the research recommendation with the analysed company.

Companies affiliated with Warburg Research regularly trade financial instruments of the analysed company or derivatives of these.

Markings in the chart show rating changes by Warburg Research GmbH in the last 12 months. Every marking details the date and closing price on the day of the rating change.

Date	Recommendation	Target Price	Close Price	Analyst
05.07.2019	Buy	29.40 EUR	27.50 EUR	Andreas Pläsier
12.04.2019	Buy	28.00 EUR	25.40 EUR	Andreas Pläsier