Analyst recommendations

freenet AG is covered by a number of German and international financial analysts. The following list includes banks and securities firms that publish regular research reports on freenet AG.

Important note:

_{Please note that freenet AG has no influence whatsoever on the opinions, estimates or forecasts given by the above-named institutions or their employees with regard to the development/performance of freenet AG. These are provided for information purposes only and do not represent the opinions, estimates or forecasts of freenet AG, but are exclusively attributable to the above-named institutions or their employees.}

_{Reference to these institutions in no way constitutes the confirmation or approval of the content of the analyses carried out by these institutions or their employees. On no account does this compilation constitute an invitation or solicitation to buy, sell or hold freenet AG shares or any other investment recommendation.}

_{freenet AG has no obligation to update or supplement the above information and makes no representation or warranty as to the accuracy and completeness of this list.}

_{Copies of the research reports of the above-named analysts must be obtained directly from the analysts or their employers. freenet AG is not able to publish the research reports due to legal considerations.}