NIH: April Outlays -4% Y/Y (-9% M/M)

Research evidence excerpt

NIH: April Outlays -4% Y/Y (-9% M/M)

ons or views expressed

in this research report.

I, Noah Kava, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject

company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed

I, Lauren Timmins, Ph.D., certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and

subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views

expressed in this research report.

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as appropriate in the analyst's judgement.

Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published May 12, 2026 16:22 P.M.

Recommendation Distributed May 12, 2026 16:22 P.M.

Company Specific Disclosures

Jefferies Financial Group Inc., its affiliates or subsidiaries beneficially owned 1% or more of the common equity of Bruker Corporation as of last month's end (or

the prior month’s end if this report is dated later than 10 days after the most recent month end).

Explanation of Jefferies Ratings