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

MMWB, Warburg Research, or an affiliated company, reached an agreement with the issuer to provide investment banking and/or investment services and the relevant agreement was in force in the last 12 months or there arose for this period, based on the relevant agreement, the obligation to provide or to receive a service or compensation - provided that this disclosure does not result in the disclosure of confidential business information.

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

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
24.11.2023	Buy	27.00 EUR	12.12 EUR	Philipp Kaiser
09.05.2023	Buy	24.00 EUR	13.72 EUR	Philipp Kaiser