Covestro AG

Transaction in Own Shares • Nov 20, 2017

News Details

Other Capital Market Information | 20 November 2017 08:25

Covestro AG: Release of a capital market information

Covestro AG / Share buy-back

20.11.2017 / 08:25
Dissemination of a Post-admission Duties announcement transmitted by DGAP -
a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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.

1. 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.

1. 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 first tranche will have a maximum total purchase
price (excluding incidental expenses) of up to EUR 400 million.

1. 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. For this maximum buyback volume, all shares
need to be taken into account, which were acquired for purpose of the
employee share participation programme since the authorization became
effective. By 20 November 2017, 0.23 million shares were acquired in this
context, representing 0.11% of the outstanding capital stock.

1. Duration of the programme

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

The first tranche will be carried out in the period between 21 November
2017 and 28 February 2018 at the latest at the conditions stated below.

1. 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, 20 November 2017

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20.11.2017 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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 Language:    English
 Company:     Covestro AG
              Kaiser-Wilhelm-Allee 60
              51373 Leverkusen
              Germany
 Internet:    www.covestro.com



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