45% is the direct ownership, but Porsche also has indirect ownership on top.

From the Rimac press releases we have two different states with accompanying charts.

2021-07-05 - Porsche owns 45% of the joint venture directly, plus 24% of Rimac for an effective total of 58.2%. [1]

2021-11-02 - Porsche owns 45% of the joint venture directly, plus 22% of Rimac for an effective total of 57.1%. [2]

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[1] https://www.rimac-automobili.com/media/press-releases/rimac-...

[2] https://www.rimac-automobili.com/media/press-releases/rimac-...