Disclosure according to sec. 85 German Securities Trading Act and Art. 20 MAR for company BRAIN Biotech 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.

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
29.02.2024	Buy	12.80 EUR	4.00 EUR	Christian Ehmann
18.08.2023	Buy	12.80 EUR	4.61 EUR	Christian Ehmann
02.06.2023	Buy	14.90 EUR	4.79 EUR	Christian Ehmann