Covestro AG: Covestro AG enters into concrete negotiations with Adnoc
regarding a potential transaction

EQS-Ad-hoc: Covestro AG / Key word(s): Mergers & Acquisitions
Covestro AG: Covestro AG enters into concrete negotiations with Adnoc
regarding a potential transaction

24-Jun-2024 / 11:28 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Based on the open-ended talks held so far with Abu Dhabi National Oil
Company ("Adnoc") the Board of Management of Covestro AG ("Covestro") after
consultation with the Supervisory Board has today decided to enter into
concrete negotiations with Adnoc on a potential transaction and the
potential conclusion of an investment agreement as well as to allow for an
adequate exchange of company information to confirm assumptions
(confirmatory due diligence).

In the view of the Board of Management, the discussions so far have shown
that Covestro and Adnoc can generally reach a common understanding regarding
core aspects of a possible transaction including support for Covestro's
further growth strategy.

Starting point for the negotiations is a possible offer price of EUR 62 per
Covestro share that Adnoc has indicated to Covestro, which is subject, among
other things, to the results of the confirmatory due diligence and agreement
on the content of an investment agreement.

Adnoc and Covestro both intend to proceed with the negotiations about a
potential transaction and the confirmatory due diligence in a timely manner.
At this time, there is no certainty whether the upcoming negotiations will
lead to an agreement. There is also no certainty as to the final terms of
any such agreement.

Any potential transaction would, in addition to mutual agreement on the
commercial and legal transaction parameters, among other things, be subject
to the approval of the respective boards of the parties and clearance by the
competent authorities.



Contact:
Ronald Köhler
Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: ronald.koehler@covestro.com

Carsten Intveen
Phone: +49 214 6009 5861
E-mail: carsten.intveen@covestro.com

Marc Schütze
Phone: +49 214 6009 5281
E-mail: marc.schuetze@covestro.com


End of Inside Information

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   Language:       English
   Company:        Covestro AG
                   Kaiser-Wilhelm-Allee 60
                   51373 Leverkusen
                   Germany
   Phone:          +49 (0) 214 60095098
   Fax:            +49 (0) 214 60097002
   E-mail:         ronald.koehler@covestro.com
   Internet:       www.covestro.com
   ISIN:           DE0006062144
   WKN:            606214
   Indices:        DAX
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1931575

End of Announcement EQS News Service
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1931575 24-Jun-2024 CET/CEST