CVS Group PLC: FY26 EBITDA in-line, LFL a bit soft in H2, M&A making up for it

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CVS Group PLC: FY26 EBITDA in-line, LFL a bit soft in H2, M&A making up for it

backtested model itself designed with the benefit of hindsight. Taking into account historical events the

backtesting of performance also differs from actual account performance because an actual investment strategy may

be adjusted any time, for any reason, including a response to material, economic or market factors. The backtested

performance includes hypothetical results that do not reflect the reinvestment of dividends and other earnings or the

deduction of advisory fees, brokerage or other commissions, and any other expenses that a client would have paid or

actually paid. No representation is made that any trading strategy or account will or is likely to achieve profits or

losses similar to those shown. Alternative modeling techniques or assumptions might produce significantly different

results and prove to be more appropriate. Past hypothetical backtest results are neither an indicator nor guarantee of

future returns. Actual results will vary, perhaps materially, from the analysis.

The method for computing individual E,S,G and composite ESG scores set forth herein is a novel method developed

by the Research department within Deutsche Bank AG, computed using a systematic approach without human

intervention. Different data providers, market sectors and geographies approach ESG analysis and incorporate the

findings in a variety of ways. As such, the ESG scores referred to herein may differ from equivalent ratings developed

and implemented by other ESG data providers in the market and may also differ from equivalent ratings developed

and implemented by other divisions within the Deutsche Bank Group. Such ESG scores also differ from other ratings