What is the function of the Performance mode in the Audi R8?

I've noticed a Performance mode button in my Audi R8 but have never used it before. Can anyone explain what it does and in what situations it's useful?

The Performance mode in the Audi R8 adjusts the engine, transmission, and suspension settings for more aggressive and dynamic driving. It's great for spirited driving on back roads or on a track day.

I've found the Performance mode to be particularly helpful in wet or slippery conditions as it provides better traction and stability control settings.

If you're mainly driving on the highway, the Comfort mode is better suited as it offers a smoother and more relaxed ride.