Bayer AG

Major Shareholding Notification • Mar 19, 2025

News Details

Voting rights Announcements | 18 March 2025 13:06

The Goldman Sachs Group, Inc., Wilmington, DE, United States of America (USA)

Bayer Aktiengesellschaft

Bayer Aktiengesellschaft: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

18.03.2025 / 13:06 CET/CEST

Dissemination of a Voting Rights Announcement transmitted by EQS News – a service of EQS Group.

The issuer is solely responsible for the content of this announcement.

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Notification of Major Holdings

1. Details of issuer

Name:	Bayer Aktiengesellschaft
Street:	Kaiser-Wilhelm-Allee 1
Postal code:	51373
City:	Leverkusen Germany
Legal Entity Identifier (LEI):	549300J4U55H3WP1XT59

2. Reason for notification

	Acquisition/disposal of shares with voting rights
X	Acquisition/disposal of instruments
	Change of breakdown of voting rights
	Other reason:

3. Details of person subject to the notification obligationLegal entity: The Goldman Sachs Group, Inc.

City of registered office, country: Wilmington, DE, United States of America (USA)

4. Names of shareholder(s)

holding directly 3% or more voting rights, if different from 3.

5. Date on which threshold was crossed or reached:11 March 2025

6. Total positions

	% of voting rights attached to shares (total of 7.a.)	% of voting rights through instruments (total of 7.b.1 + 7.b.2)	Total of both in % (7.a. + 7.b.)	Total number of voting rights pursuant to Sec. 41 WpHG
New	0.19 %	5.02 %	5.21 %	982424082
Previous notification	0.20 %	4.91 %	5.11 %	/

7. Details on total positions

a. Voting rights attached to shares (Sec. 33, 34 WpHG)

ISIN	Absolute		In %
	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)
DE000BAY0017	0	1623474	0 %	0.17 %
US0727303028	0	257982	0 %	0.03 %
Total	1881456		0.19 %

b.1. Instruments according to Sec. 38 (1) no. 1 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Voting rights absolute	Voting rights in %
Right To Recall	Open		101724	0.01 %
Right Of Use	Open		884890	0.09 %
Call Option	14.02.2029		12559383	1.28 %
Forward	10.12.2025		13580	0.001 %
Swap	15.12.2026		249954	0.03 %
Call Warrant	13.02.2029		880360	0.09 %
		Total	14689890	1.50 %

b.2. Instruments according to Sec. 38 (1) no. 2 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Cash or physical settlement	Voting rights absolute	Voting rights in %
Call Option	31.03.2035		Cash	8319171	0.85 %
Forward	21.03.2025		Cash	229029	0.02 %
Call Warrant	31.12.2030		Cash	2626158	0.27 %
Future	16.12.2033		Cash	3568636	0.36 %
Put Option	16.12.2033		Cash	3801522	0.39 %
Put Option	19.06.2026		Physical	4250768	0.43 %
Swap	12.03.2035		Cash	11861825	1.21 %
			Total	34657109	3.53 %

8. Information in relation to the person subject to the notification obligation

	Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.).
X	Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity:

Name	% of voting rights (if at least 3% or more)	% of voting rights through instruments (if at least 5% or more)	Total of both (if at least 5% or more)
The Goldman Sachs Group, Inc.	%	%	%
GSAM Holdings LLC	%	%	%
Goldman Sachs Asset Management, L.P.	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
GSAM Holdings LLC	%	%	%
Goldman Sachs Asset Management Holdings LLC	%	%	%
Goldman Sachs Asset Management UK Holdings I Ltd	%	%	%
Goldman Sachs Asset Management UK Holdings II Ltd	%	%	%
Goldman Sachs Asset Management Holdings I B.V. / Goldman Sachs Asset Management Holdings II B.V.	%	%	%
Goldman Sachs Asset Management Holdings B.V.	%	%	%
Goldman Sachs Asset Management International Holdings B.V.	%	%	%
Goldman Sachs Asset Management B.V.	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
GS Global Markets, Inc.	%	%	%
Goldman Sachs Finance Corp International Ltd	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
Goldman, Sachs & Co. Wertpapier GmbH	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
Goldman Sachs (UK) L.L.C.	%	%	%
Goldman Sachs Group UK Limited	%	%	%
Goldman Sachs International Bank	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
Goldman Sachs Bank USA	%	%	%
Goldman Sachs Bank Europe SE	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
Folio Financial, Inc.	%	%	%
Folio Investments, Inc.	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
GS Finance Corp.	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
Goldman Sachs & Co. LLC	%	%	%
–	%	%	%
The Goldman Sachs Group, Inc.	%	%	%
Goldman Sachs (UK) L.L.C.	%	%	%
Goldman Sachs Group UK Limited	%	%	%
Goldman Sachs International	%	%	%

9. In case of proxy voting according to Sec. 34 para. 3 WpHG

(only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)

Date of general meeting:

Holding total positions after general meeting (6.) after annual general meeting:

Proportion of voting rights	Proportion of instruments	Total of both
%	%	%

10. Other explanatory remarks:

Date

17 March 2025

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18.03.2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com

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Language:	English
Company:	Bayer Aktiengesellschaft
	Kaiser-Wilhelm-Allee 1
	51373 Leverkusen
	Germany
Internet:	www.bayer.com

End of News	EQS News Service

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2102388  18.03.2025 CET/CEST