Covestro lays issue price fixed at 24 euros per share

Total volume IPO: 1.5 billion euros | First listing on the Frankfurt stock exchange on October 6

Leverkusen, October 2, 2015 - The Covestro AG shares will be placed on the stock exchange at a price of 24 euros.The company, one of the world's leading polymer producers, providing 62.5 million new shares through a capital increase. The gross yield is therefore 1.5 billion. Taking into account the total number of shares and the issue price, the market capitalization of Covestro amounts to 4.9 billion euros. After the price range of the shares was adjusted recently ran the order book in less than a day full and the demand was much greater than the supply. The first listing in the regulated market segment (Prime Standard) of the Frankfurt Stock Exchange is scheduled for Tuesday, October 6th, 2015.

The issue price was determined by Covestro (formerly Bayer MaterialScience) and Bayer AG (currently the sole shareholder), along with Deutsche Bank and Morgan Stanley, the two joint global coordinators for the transaction. The new bearer shares (ISIN DE0006062144, stock market symbol 1 COV) in Germany and Luxembourg were publicly offered to private and institutional investors. In other countries only institutional investors were contacted as part of private placements.

The offer was revised on October 1, due to the current deterioration and high volatility in the capital markets, which had to suffer the stock market since the start of the so-called book-building process on 21 September.

"We are very pleased with the positive response to our revised offer - especially given the difficult market situation," said Covestro CEO Patrick Thomas. "It is a sign of confidence in our company and in our long term growth strategy. Through this initial public offering (IPO), we will be faster, more efficient and able to play to our strengths in a more flexible way in order to expand our competitive advantages.We plan to share our commercial success from the start with our shareholders through the payment of a dividend."

Since September 2015 Covestro is an independent legal and economic entity. The number of shares circulating freely on the stock market will hover around 31%. The remaining shares are owned by Bayer AG. Market Stabilizing action may occur up to 10% of the issue volume up to 30 days after the first trading day in Covestro shares.

About Covestro
With 2015 sales of EUR 12.1 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites around the globe and employs approximately 15,700 people (full-time equivalents) as of the end of 2016.

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Forward-looking statements
This press release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available on the Covestro website at Covestro assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.