ADNOC International Initiates Acceptance Period for Covestro Takeover

On October 25, 2024, ADNOC International Germany Holding AG announced the commencement of the acceptance period for its voluntary public takeover offer for Covestro AG. Shareholders can now tender their shares at a price of €62 per share, which is a 54% premium over Covestro's unaffected share price as of June 19, 2023. The acceptance period will close on November 27, 2024.

The takeover offer has received support from both the Board of Management and the Supervisory Board of Covestro. The offer is contingent upon a minimum acceptance threshold of 50% plus one share, alongside other regulatory conditions. ADNOC International has pledged not to enter any domination agreement with Covestro during the Investment Agreement term, which expires at the end of 2028.

For more detailed instructions on accepting the offer, shareholders should consult the Offer Document, available at www.covestro-offer.com, and maintain communication with their custodian banks regarding important deadlines.