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

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
31.07.2024	Sell	17.50 EUR	17.00 EUR	Jan Bauer