INDEPENDENT RESEARCH

As Germany's largest independent analyst company, we have been a reliable partner to investment companies, banks, securities banks, and issuers since 1995. Our services range from capital market research to company valuation, capital market advisory services and securities reports to outsourcing services for banks. Our customers' confidence in us is primarily based on our strengths that make all the difference in today's capital market: independence, expertise, and flexibility... Independence is the core element of our philosophy. Independent Research operates independently, and is entirely owned by its management. Neither trade activities nor other compulsions impede our analytic or advisory services in any way. As an important services provider to institutional investors and capital market participants, Independent Research has committed itself to the highest standards of professional ethics.

Registration numbers: HRB 40028 (W)

VAT numbers: DE 172288746

Primary location: Frankfurt Germany