Analyst Recommendations

The analyses prepared by the banks and securities companies listed above are not based on Continental research and are completely outside the influence and control of Continental AG. These analyses solely reflect the opinions, estimates, forecasts or recommendations of the above-mentioned institutions, or those of their employees, relating to Continental's performance and capabilities, and do not represent the opinion, estimate, forecast or any form of recommendation of or by Continental AG or its management.

By referring to the analyses, Continental AG does not adopt them as its own, neither implies, nor should be inferred to signify, that Continental AG or its management confirms or approves the content of the analyses. Continental AG assumes no liability for the selection, validity, completeness or correctness of the listing or of the analyses prepared by institutions. The listing has been provided solely for information only. It does not constitute an offer, an invitation to subscribe for or purchase securities of Continental AG, nor does it constitute an advertisement for them. It also does not contain an investment recommendation or a proposal or recommendation for an investment strategy.