The Conference on the Future of Europe remains an enigma just five months before its projected end. In this policy brief, Lucas Guttenberg outlines the four main open questions that will determine the outcome of the conference and whether it will be judged a success: What level of ambition will the conference aim for? Who is calling the shots when it comes to the conference’s outcome document? What will happen next after the end of the conference? And how will the conference impact the EU’s institutional fabric in the long run?