CIO Insights Resilience versus recession References 1. UN: https://www.ohchr.org/en/press-releases/2022/10/climate-change-greatest-threat-world- has-ever-faced-un-expert-warns 2. IEA: https://www.iea.org/data-and-statistics/data-tools/greenhouse-gas-emissions-from-energy- data-explorer 3. COP27 press release (https://reliefweb.int/report/world/cop27-science-day-reiterates- importance-data-and-evidence-delivering-implementation) 4. https://www.forbes.com/sites/energyinnovation/2022/08/23/inflation-reduction-act-benefits- clean-energy-tax-credits-could-double-deployment/?sh=3b8a5ed56727 5. https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/15/by-the-numbers- the-inflation-reduction-act/ 6. https://energy.ec.europa.eu/topics/renewable-energy/renewable-energy-directive-targets-and- rules/renewable-energy-targets_en 7. IEA: https://www.iea.org/reports/financing-clean-energy-transitions-in-emerging-and- developing-economies/setting-the-scene 8. REPowerEU, May 2022: REPowerEU (europa.eu) 9. H.R. 5376Inflation Reduction Act, United States Congress, BILLS-117hr5376enr.pdf (congress. gov) 10. IEA, Global Hydrogen Review 2022: Global Hydrogen Review 2022 (windows.net). 11. For Investors | Hydrogen Council 12. United Nations (2018). Sustainable Development Goal 6 Synthesis Report 2018 on Water and Sanitation. New York. 13. Hoegh-Guldberg, O. et al. 2015. Reviving the Ocean Economy: the case for action. WWF International. Geneva. 14. https://www.thebusinessresearchcompany.com/report/healthcare-service-global- market#:~:text=The%20global%20healthcare%20services%20market,least%20in%20the%20 short%20term. 15. https://de.statista.com/outlook/health-markets 16. Morgan Stanley 17. https://www.healthsystemtracker.org/chart-collection/health-expenditures-vary-across- population/#Proportion%20of%20individuals%20by%20health%20status,%202019 18. Zukunftsinstitut: Generation Y. Ein Porträt: https://www.zukunftsinstitut.de/fileadmin/user_ upload/Publikationen/Auftragsstudien/studie_generation_y_signium.pdf 19. McKinsey: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true- gen-generation-z-and-its-implications-for-companies 20. Goldman Sachs Global Investment Research: https://www.goldmansachs.com/insights/archive/ millennials/ 21. Impact of online convenience on generation Z online impulsive buying behavior: The moderating role of social media celebrity: https://www.frontiersin.org/articles/10.3389/fpsyg.2022.951249/ full In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns. Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk. This document was produced in December 2022. 35