The RS 5 Cabriolet might just be one of Audi’s worst kept secrets. Leaked patent images and regular sightings of RS 5 chinned “S5 Cabriolets” sporting an extra R on their speedo clusters while parked at the Audi Forum Ingolstadt haven’t exactly kept the shroud of mystery intact. Still, the car has yet to be seen with its proper fender flares… that was until today.

It seems an example very close to production had an informal coming-out party today as it lapped the Nurburgring in test mule guise. Though skinned with funky camo to thwart any truly accurate photography, this car’s identity is undeniable, as are its blister flares.

Expect the RS 5 Cabriolet to be essentially identical to the RS 5 coupe in nearly every respect save its lack of roof and its alloy windscreen frame. This means 450-hp high-rev V8, 7-speed S-tronic gearbox and all the other upgrades that separate the RS 5 from the S5.

Given the timing of this near-complete production sighting we wouldn’t be surprised to see the RS 5 Cabriolet debut in Paris in September. Another option might be an American show as the U.S.A. accounts for the lion’s share of Cabriolet sales. And while we’ve got no definite affirmation that the RS 5 will come to America, the appetite for droptops Stateside suggests this might be a foregone conclusion even without confirmation.

See more photos in our photo gallery linked at the bottom.