German Potentially Undervalued Companies

Regional Management

Market Cap: €303.2m

A diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders in the United States.

Carnival Corporation &

Market Cap: €27.1b

A cruise company, provides leisure travel services in North America, Australia, Europe, and internationally.

Indivior

Market Cap: €935.5m

Engages in the development, manufacture, and sale of buprenorphine-based prescription drugs for the treatment of opioid dependence and co-occurring disorders in the United States, the United Kingdom, and internationally.

DCC

Market Cap: €5.1b

Engages in the sales, marketing, and distribution of carbon energy solutions worldwide.

OceanaGold

Market Cap: €3.0b

A gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand.

Yuexiu Transport Infrastructure

Market Cap: €6.3b

Invests in, constructs, develops, operates, and manages toll expressways and bridges in the People’s Republic of China.

Fomento de Construcciones y Contratas

Market Cap: €4.9b

Engages in the environmental services, water management, infrastructure development, and real estate businesses in Europe and internationally.

Bidvest Group

Market Cap: €83.5b

An investment holding company, engages in services, trading, and distribution businesses in South Africa and internationally.

Shenzhou International Group Holdings

Market Cap: €85.5b

An investment holding company, engages in the manufacture, printing, and sale of knitwear products in Mainland China, European Union, the United States, Japan, and internationally.

Tate & Lyle

Market Cap: €2.3b

Engages in the provision of ingredients and solutions to the food, beverage, and other industries in North America, Asia, Middle East, Africa, Latin America, and Europe.

Mattel

Market Cap: €6.5b

A toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Aspen Pharmacare Holdings

Market Cap: €77.6b

Manufactures and supplies specialty and branded pharmaceutical products worldwide.

Teradata

Market Cap: €2.2b

Provides a connected hybrid cloud analytics and data platform in the United States and internationally.

Spectrum Brands Holdings

Market Cap: €1.8b

Operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, Latin America, and Asia-Pacific regions.

Origin Enterprises

Market Cap: €330.4m

Provides agronomy services company in Ireland, the United Kingdom, Brazil, Poland, Romania, Latin America, and internationally.

Morgan Advanced Materials

Market Cap: €577.7m

Operates as a materials science and application engineering company primarily the United Kingdom.

Polar Capital Holdings

Market Cap: €420.8m

Polar Capital Holdings plc is a publicly owned investment manager.

Keppel

Market Cap: €12.4b

An investment holding company, engages in the infrastructure, real estate, and connectivity business in Singapore, China, Hong Kong, other far East and ASEAN countries, and internationally.

Royalty Pharma

Market Cap: €19.4b

Operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry in the United States.

Aica Kogyo Company

Market Cap: €212.8b

Develops, produces, and sells chemical products, and laminates and building materials in Japan and internationally.

Quest Resource Holding

Market Cap: €58.1m

Provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States.

q.beyond

Market Cap: €96.9m

Engages in the cloud, SAP, Microsoft, data intelligence, security, and software development business in Germany and internationally.

China Everbright Environment Group

Market Cap: €21.1b

An investment holding company, provides environmental solutions worldwide.

Timken

Market Cap: €5.2b

Designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally.

L.D.C

Market Cap: €2.4b

Produces and sells poultry and processed products in France and internationally.

Reynolds Consumer Products

Market Cap: €5.0b

Produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally.

SFL

Market Cap: €1.1b

A maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters.

Woodside Energy Group

Market Cap: €43.5b

Engages in the exploration, evaluation, development, production, marketing, and sale of hydrocarbons in the Asia Pacific, Africa, the Americas, and the Europe.

Teva Pharmaceutical Industries

Market Cap: €18.4b

Develops, manufactures, markets, and distributes generic and other medicines, and biopharmaceutical products in the United States, Europe, Israel, and internationally.

Bosideng International Holdings

Market Cap: €45.7b

Engages in the apparel business in the People’s Republic of China.

Fortrea Holdings

Market Cap: €791.1m

A contract research organization, provides biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology, and medical device customers worldwide.

Open Text

Market Cap: €6.9b

Engages in the provision of information management products and services.

M.P. Evans Group

Market Cap: €497.5m

Through its subsidiaries, engages in the ownership and development of oil palm plantations in Indonesia and Malaysia.

Galaxy Digital Holdings

Market Cap: €6.2b

Engages in the digital asset and blockchain businesses.

Intron Technology Holdings

Market Cap: €1.7b

An investment holding company, operates as an automotive electronics solutions provider in Hong Kong, the Mainland China, and internationally.

Eolus Vind

Market Cap: €1.4b

Primarily engages in the development, construction, and operation of renewable energy assets in Sweden, Norway, Finland, the United States, Poland, Spain, and the Baltic states.