Covestro AG, DE0006062144

Covestro AG, DE0006062144

10.08.2018 - 10:24:13

Covestro AG: Release of a capital market information

Covestro AG in Leverkusen: Release of a capital market information

Covestro AG in Leverkusen /

Disclosure according to Section 2 para. 1 of Regulation (EU) No. 2016/1052

Covestro AG

Leverkusen

WKN 606214

ISIN DE0006062144

Disclosure according to Section 2 para. 1 of Regulation (EU) No. 2016/1052

1. Information relating to the share buyback programme

In accordance with the authorization granted by the Annual General Meeting on 1 September 2015, the Management Board of Covestro AG with corporate seat in Leverkusen ('Covestro' or the 'Issuer') resolved on 24 October 2017 to acquire own shares (ISIN DE0006062144) through XETRA trading of Frankfurt Stock Exchange (FSE) in the period between the fourth quarter 2017 until mid of 2019.

2. Purpose of the share buyback programme

The own shares acquired will be cancelled or will be used to a very limited extent for employee share participation programmes.

3. Maximum pecuniary amount allocated to the programme

The maximum total purchase price (excluding incidental expenses) for own shares amounts to EUR 1.5 billion.

The buyback for the maximum total purchase price shall be carried out in several tranches. The third tranche will have a maximum total purchase price (excluding incidental expenses) of up to EUR 650 million.

4. Maximum number of shares to be acquired

The acquisition of own shares by the Issuer shall not exceed a total amount of 10% of the outstanding capital stock. This represents a maximum buyback volume of 20.25 million shares.

Taking into account the shares that have already been acquired during the first tranche of the share buyback program as well shares acquired for the purpose of the employee participation program, up to 9.5 million shares may still be acquired within the limits of the mentioned maximum amount of shares.

5. Duration of the programme

The buyback programme shall be effected during the period from 21 November 2017 to June 2019.

The third tranche will be carried out in the period between 13 August 2018 and 08 February 2019 at the latest at the conditions stated below.

6. Further details

The share buyback programme will be carried out based on the authorization of the Annual General Meeting of Covestro on 1 September 2015.

The share buyback programme will be carried out in accordance with Articles 5, 14 and 15 of Regulation (EU) 596/2014 on market abuse in conjunction with the provisions of Commission Delegated Regulation (EU) 2016/1052 of March 8, 2016 supplementing Regulation (EU) 596/2014 with regard to regulatory technical standards for the conditions applicable to buyback programmes and stabilisation measures (hereinafter: Regulation (EU) 2016/1052).

The share repurchases will be carried out by an independent credit institution which will, within the aforementioned time period, make its trading decisions regarding the exact timing of the purchases of shares independently of, and without any influence by, the Issuer. The credit institution is obliged to comply with the trading conditions of Article 3 of Regulation (EU) 2016/1052 and the provisions contained in this share buyback programme. In addition, the Issuer will not purchase on any trading day more than 25% of the average daily turnover in the shares on the venue, where the purchases of shares are made. The average daily turnover is calculated based on the average daily volume traded during the 20 trading days preceding the date of the respective purchase.

Covestro may suspend the share buyback programme and also resume it at any time to the extent required and legally permissible.

Information on transactions relating to the buyback programme will be published according to Art. 2 of Regulation (EU) 2016/1052.

Covestro AG will provide regular information on the progress of the share buyback programme at www.covestro.com/en/investors.

Leverkusen, 10 August 2018

10.08.2018 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Covestro AG Kaiser-Wilhelm-Allee 60 51373 Leverkusen

Germany Internet: www.covestro.com   End of News DGAP News Service

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