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      Covestro AG
      Covestro AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
 
 24.10.2025 / 07:42 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.
 
 
 
 
      
       Notification of Major Holdings
      
      
      
      
       1. Details of issuer
      
      
       2. Reason for notification
        | Name: | Covestro AG |  
        | Street: | Kaiser-Wilhelm-Allee 60 |  
        | Postal code: | 51373 |  
        | City: | Leverkusen Germany
 |  
        | Legal Entity Identifier (LEI): | 3912005AWHKLQ1CPLV11 |  
       3. Details of person subject to the notification obligation
        | X | Acquisition/disposal of shares with voting rights |  
        |  | Acquisition/disposal of instruments |  
        |  | Change of breakdown of voting rights |  
        |  | Other reason: 
 |  
       4. Names of shareholder(s)
        | Legal entity: The Goldman Sachs Group, Inc. City of registered office, country: Wilmington, DE, United States of America (USA)
 |  
      holding directly 3% or more voting rights, if different from 3.
      
      5. Date on which threshold was crossed or reached:
      
      
      
      
       6. Total positions 
       7. Details on total positions
      
      
      
       a. Voting rights attached to shares (Sec. 33, 34 WpHG)
        |  | % 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 | 3.07 % | 2.27 % | 5.34 % | 189000000 |  
        | Previous notification | 2.99 % | 2.05 % | 5.04 % | / |  
       b.1. Instruments according to Sec. 38 (1) no. 1 WpHG
        | ISIN | Absolute | In % |  
        |  | Direct (Sec. 33 WpHG)
 | Indirect (Sec. 34 WpHG)
 | Direct (Sec. 33 WpHG)
 | Indirect (Sec. 34 WpHG)
 |  
        | DE0006062144 | 0 | 156600 | 0 % | 0.08 % |  
        | DE000A40KY26 | 0 | 5393893 | 0 % | 2.85 % |  
        | US22304D2071 | 0 | 243296 | 0 % | 0.13 % |  
        | Total | 5793789 | 3.07 % |  
       b.2. Instruments according to Sec. 38 (1) no. 2 WpHG
        | Type of instrument | Expiration or maturity date | Exercise or conversion period | Voting rights absolute | Voting rights in % |  
        | Right To Recall | Open |  | 119108 | 0.06 % |  
        | Right Of Use | Open |  | 2986567 | 1.58 % |  
        | Call Option | 19.12.2025 |  | 250000 | 0.13 % |  
        |  |  | Total | 3355675 | 1.78 % |  
       8. Information in relation to the person subject to the notification obligation
        | Type of instrument | Expiration or maturity date | Exercise or conversion period | Cash or physical settlement | Voting rights absolute | Voting rights in % |  
        | Call Warrant | 18.06.2026 |  | Cash | 5200 | 0.003 % |  
        | Put Option | 17.12.2027 |  | Physical | 530000 | 0.28 % |  
        | Swap | 31.07.2035 |  | Cash | 404072 | 0.21 % |  
        |  |  |  | Total | 939272 | 0.50 % |  
       
        |  | 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: |  
       9. In case of proxy voting according to Sec. 34 para. 3 WpHG
        | 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. | % | % | % |  
        | 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. | % | % | % |  
        | Goldman Sachs & Co. LLC | % | % | % |  
        | – | % | % | % |  
        | The Goldman Sachs Group, Inc. | % | % | % |  
        | Goldman Sachs (UK) L.L.C. | % | % | % |  
        | Goldman Sachs Group UK Limited | % | % | % |  
        | Goldman Sachs International | % | % | % |  
      (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:
      
       
       10. Other explanatory remarks:
        | Proportion of voting rights | Proportion of instruments | Total of both |  
        | % | % | % |  
      Date
      
       
 
 
      24.10.2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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