Bayer places 2 billion euro hybrid bonds

Leverkusen, September 23, 2026 – On Wednesday Bayer AG successfully placed new hybrid bonds for an amount of 2 billion euros, increasing its outstanding volume of hybrid bonds to 6.55 billion euros. Both tranches, one billion euros each, were oversubscribed multiple times, which demonstrates strong market confidence in Bayer AG’s financial strength. The proceeds will be used for general corporate purposes. The transaction follows the 3-billion-euro equity investment from Apollo and the successful placement of bonds with a volume of 5 billion U.S. dollars in the past months.

The hybrid bonds have been sold exclusively to institutional investors. Both tranches have a final maturity of 30 years. The bonds with a non-call period of six years pay a coupon of 5.75 percent and the bonds with a non-call period of nine years pay a coupon of 6.25 percent. Bayer intends to list the hybrid bonds on the Luxembourg Stock Exchange.

BofA Securities and Deutsche Bank acted as Global Coordinators. BNP PARIBAS, BofA Securities, Citigroup, Crédit Agricole CIB, Deutsche Bank and HSBC led the transaction as Active Bookrunners.

Hybrid bonds are a permanent component of Bayer’s financing strategy and support its conservative financial policy. They are structured to receive 50 percent equity credit from the rating agencies (Standard & Poor’s, Moody’s and Fitch).

About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. In line with its mission, “Health for all, Hunger for none,” the company’s products and services are designed to support efforts to master major challenges presented by a growing and aging global population and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2025, the Group employed around 88,000 people and had sales of 45.6 billion euros. R&D expenses amounted to 5.8 billion euros. For more information, go to www.bayer.com.

Forward-Looking Statements
This 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 www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Important notice
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, any securities. There will be no public offer of the securities in any jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. An investment decision regarding the securities referred to herein should only be made on the basis of the prospectus to be published in connection with the transaction.

This announcement is an advertisement and does not, under any circumstances, constitute a public offering or an invitation to the public in connection with any offer within the meaning of Regulation (EU) 2017/1129, as amended. The prospectus, when published, will be available on the website of the Luxembourg Stock Exchange (www.luxse.com).

The securities referred to herein will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. State security laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act or to, or for the benefit of, U.S. persons.