September 13, 2017

Bayer places 9.4 percent stake in Covestro

Leverkusen, September 13, 2017 - Bayer AG has reduced its direct interest in
Covestro from 40.9 percent to 31.5 percent. This was achieved by selling 19
million of its shares to institutional investors at a price of EUR 63.25 per
share. The share placement took place on Tuesday evening after market close and
was aimed exclusively at institutional investors. As part of the placement,
Bayer has agreed to a 90-day lock-up period.

As already announced, Bayer intends to achieve full separation from Covestro in
the medium term.

Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the Life Science fields
of health care and agriculture. Its products and services are designed to
benefit people and improve their quality of life. At the same time, the Group
aims to create value through innovation, growth and high earning power. Bayer
is committed to the principles of sustainable development and to its social and
ethical responsibilities as a corporate citizen. In fiscal 2016, the Group
employed around 115,200 people and had sales of EUR 46.8 billion. Capital
expenditures amounted to EUR 2.6 billion, R&D expenses to EUR 4.7 billion.
These figures include those for the high-tech polymers business, which was
floated on the stock market as an independent company named Covestro on October
6, 2015. For more information, go to

Forward-looking statements

This news release may contain forward-looking statements based on current
assumptions and forecasts made by Bayer management. 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 Bayer's public reports, which are available on the Bayer
website at The company assumes no liability whatsoever to update
these forward-looking statements or to conform them to future events or

Additional information
This press release constitutes neither an offer to sell nor a solicitation to
buy any securities of Bayer, Covestro or their respective subsidiaries. The
Covestro shares have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "Securities Act") and may not be
offered or sold in the United States of America absent registration or an
applicable exemption from the registration requirements under the Securities