Resolution Criteria

TIME IS IN CET

This market will resolve based on SAP SE's market capitalization relative to all other European publicly traded companies at market close on December 31, 2025. The market will resolve as:

• YES if SAP SE has the highest market capitalization among all European publicly traded companies at market close on December 31, 2025

• NO if any other European publicly traded company has a higher market capitalization at market close on December 31, 2025

For resolution purposes:

• Market capitalization will be determined using https://companiesmarketcap.com/

• European companies are defined according to Wikipedia as of December 31, 2025. If a company's classification (as European or otherwise) changes (and is relevant to this question resolving) within the 10 days preceding December 31, 2025., an established consensus on Wikipedia is required, meaning no edit wars for 10 days if the edit war is longer than 30 days I will first ask the LLM of "Le Chat", if "Le Chat" does not exist, another LLM. If said LLM does not give a one-sided answer I will resolve this NA.

• If SAP SE is delisted, acquired, or ceases to exist before December 31, 2025, the market will resolve as NO