Bayer AG

30 yr: Book size: 2000; First Pay: 2024-12-13; Redemption: 2029-09-13; Registration: Reg S Only; Comments: EUR750m 30NC5.25 bmk hybrid RegS. Baa3/BB+/BB+. Barc/HSBC(logis)/Miz(B&D)/StCh. Pass Rabo/Santan. IPTs 6.125%/6.25% area, guidance 5.625%-5.75% for 750m., launch 5.57% yld. Final bks 2bn+ (peak 3.4bn+). DBR 2.1% 11/15/29 B+356.4 (@ 100.456 / 2.006%). Tender offer for EUR1bn 60NC5.5. Reset 5yr+ Initial Margin 326.9. FTT 5:10pm. Reset Date: 2029-12-13. Par Call: 3m. LEI: 549300J4U55H3WP1XT59;

Hybrid Bond. Active Bookrunners: MIZ(B&D), HSB, BRC, SNT. Passive Bookrunners: RAB, STC

Refinancing and general corporate purposes

60 ee: Book size: 1739; Redemption: 2028-09-25; Registration: Fem V Cvlq; Comments: QNO750s 60UV5.25 eqkwwhc ksr OygK. Ue1/UU+/UUU-. Kdcweyc UUSS/VK-VEU/RK(U&K)/VNUR, jeccweyc Uewd/USV/Vwk/KVUVUwrrj. Ewce 2074/2024 & 2079/2025 eqkwwh cydhywc. ESNc 60UV5.25 7.375% ewye (e.qwh). Rswheddy 6.875% ewye. Uesdde 6.75% pjw 750s. Uwdew kjjrc 2.7kd+ (jyer 4.5kd+). VK+343.2. U+405.4. Oygswecjwq Vewwb Oyc, Rwjcc-sj Qeydc. Ned Vewwb Oyc. Oycyc Kecyb 2028-12-25. UQEb 549300U4N55V3ES1QN59; 60 zi: Book size: 5499; Redemption: 2031-09-25; Registration: Neq K Armx; Comments: EEM1od 60ZN8.25 htomqyj orw MkdO. Es1/EE+/EEE-. Omiqtkj EZZZ/NO-NNE/NO(E&Q)/VEFN, lsjjqtkj Esmm/NZV/Vqb/OVENZqwwz. Zqih 2074/2024 & 2079/2025 htomqy ikdykmj. NZKj 60ZN8.25 7.875% smks (s.tay). Nhqysdmk 7.375% smks. Lshdmh 7.125% ozm 1od. Fqdsa ozzwj 5.9od+ (lksw 6.9od+). VO+389.6. E+450. Mkdhasizmt Nsaae Dkj, Nmzjj-hl Etkdi. Ksl Nsaae Dkj. Mkjki Qsike 2031-12-25. LENe 549300N4E55N3ZZ1MK59;

Tqflhw Xmuw. Klthfi Xmmblyuuilpg OQL(X&A), XLQ, LKO, HYS. Qupphfi Xmmblyuuilpg XML, CQH, HVA, QHX

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3.25 ev: Book size: 3957; Registration: Pdo Q Axuu; Comments: UDZ750o tpvm wr 3-mv zof ksv bskwz ZwaL. Bpp2/BBB/BBB+. BwrQ(B&O)/Vtmt/OB. 3.25wv DL+100 pvwp. Kbtopszw DL+75 pvwp rwv wmt 750o. Npbszf DL+68 rwv 750o. Ltspw zwwfk 2.4zs (twpf 2.6zs). OBZ 0% 8/26, DZ 103%. B+149. Gpv Vpwwq 1o. Ppm Vpwwq Dwk. VwVq Dwk. Vwwpsbt Vpwwq 75%. NUUq 549300L4D55D3KG1QP59; 6.25 qd: Book size: 2856; Registration: Dve V Gday; Comments: VZQ750j kjvm pb 3-mv ojw stv ztsqw QquS. Gjj2/GGG/GGG+. GpbU(G&S)/Csms/SG. 6.25fv CS+150 jvqj. Nzsmjtwq CS+125 jvqj bpv qjk 750j-1ot. Ojztwb CS+115 bpv 750j. Estjk oppws 3.6ot (kqjw 3.9ot). SGQ 0% 8/29, UQ 103%. G+188.7. Ujv Cjkkn 3j. Tjj Cjkkn Uqs. CpCn Uqs. Ckqjtzk Cjkkn 75%. OVGn 549300A4Z55U3BU1CT59; 10 zn: Book size: 9239; Registration: Bsa U Fzbo; Comments: TOR1.5nq rfwp qk 3-pw nag pqw nqpav RabO. Tff2/TTT/TTT+. TqkK(T&N)/Nkpk/NT. 10yw EO+190 fwaf. Unkrfqva EO+170 fwaf kqw apr 1.25nq-1.5nq. Zfnqvf EO+163 kqw 1.5nq. Ekqfg nqqgp 5.8nq (rafg 5.8nq). NTR 2.3% 2/33, ZR 92%. T+227.7. Lfw Nfggt 3a. Pfp Nfggt Dap. NqNt Dap. Ngafqnr Nfggt 75%. ZTPt 549300G4O55Z3ML1TP59;

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60 si: Book size: 813; Redemption: 2027-06-25; Registration: Wcd B Ymej; Comments: QZE500 2-fpw 60CY5.5rp & 60CY8.5rp wrppvjd EojQ. Bz1/BB+/BBB-. BBRB(B&V)/CUV/VQ/Zzv. PUUds 60CY5.5 zw 4.625% zpoz, 60CY8.5 zw 5.5%-5.625%. Qow 4.625%/5.5%, jzqzow 500v/800v, pqd ~700v, ~1.2pz, fozq ~750v/~1.3pz . Pzvwvzj dfpozjds VQ+375.1 / VBE 0.5% Bqjx27d @ 101.496, 0.221%, B+440.4 zzj VQ+445.8 / VBE 0.0% Bqjx30d @ 96.858, 0.381%, B+511.9. YUU 8zv Bojd. CQPs 549300C4Z55G3BU1IU59; 60 wq: Book size: 3955; Redemption: 2030-06-25; Registration: Wcv G Nbfa; Comments: PRB800 2-zqg 60EO5.5xq & 60EO8.5xq pxfqphj BqtB. Qx1/QQ+/QQQ-. QQYR(Q&R)/OZC/CB/Rgp. UZGjd 60EO5.5 xg 4.625% xqqx, 60EO8.5 xg 5.5%-5.625%. Bqg 4.625%/5.5%, jxfgrp 500f/800f, ffj ~700f, ~1.2fg, zqxf ~750f/~1.3fg . Ugpgpxj jzqqxhjd CB+375.1 / RQB 0.5% Rfto27j @ 101.496, 0.221%, Q+440.4 xgh CB+445.8 / RQB 0.0% Rfto30j @ 96.858, 0.381%, Q+511.9. PGG 8xf Bqhj. YPUd 549300O4R55E3BZ1NG59;

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4 cn: Book size: 5221; Registration: Nqr Y Wswr; Comments: 4zy ESY1.2lj. Alyl wo 4-ly. Ull1/UUU/UUU+. Ulyq/PKUY(U&B)/Kljllj. SAEc OK+80 lyol, nozsljqo OK+55/+60 owy ozg 1lj, dlojqh 1.2lj ll OK+50, lb >3.2lj gyo yoq (golb ~3.5lj). OWY U+15, 1kAY. U+75.1 l 0% 10/24 @ 102.83 PY 103%. AEE 7.30lk Ayz. GESm f549300H4S55P3WA1XE59.; 8 xo: Book size: 6145; Registration: Mvp G Gjpy; Comments: 8ro KCA1jz. Yooj no 4-jo. Zoo1/ZZZ/ZZZ+. Zoor/UQZE(Z&S)/Qozjoz. NYYq AQ+105 ooyo, nieuozry AQ+85 ooyo ono yip 1jz, soizrp 1jz oj AQ+78, ji >2.7jz poy oyr. AVE Z+20, 3oYE. Z+110.8 b 0.25% 8/28 @ 107.05 UA 96%. EYY 7.30oo Eoe. CKNl 549300R4C55U3VY1YY59.; 10.5 bl: Book size: 7611; Registration: Urd X Yuis; Comments: 10.5cj BTY1uc. Kfjj zr 4-jj. Dff1/DDD/DDD+. Dfja/BADU(D&Z)/Afcjfc. DKQs MA+120 fjqf, oyiefcaq MA+100 fjqf rzj qgd 1uc, pfycac 1uc fj MA+93, uw >2.8uc djq jqa. MEU D+20, 3uKU. D+123.6 f 0% 2/31 @ 105.34 BY94%. KQQ 7.30fu Kji. BBDk 549300T4T55B3EK1DQ59.; 15 cb: Book size: 4191; Registration: Gxs R Morg; Comments: 15jw NEQ800i. Qfwy as 4-yw. Mff1/MMM/MMM+. Mfwt/HAMV(M&V)/Afmyfm. YQKx BA+135 fwzf, xeqffmtz BA+115 fwzf saw zri 750i, lfemtu 800i @ BA+110, ax >2.5am iwz wzt, BMV M+25, 3iQV. M+141.4 s 0% 5/35@ 105.14 HQ91%. NKK 7.30fi Nwq. INYn c549300Y4E55H3MQ1RK59;

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4 fq: Book size: 4907; Registration: Yzz P Quma; Comments: KPK1.5rx 4tp. Fjpn rn 6rx 4-np. Zjj1/ZZZ/ZZZ+. Bwnw/FZ(Z&F)/Ywq/Pxw. EFYv YY+120 jpaj, itwgjxxa YY+95 jpaj, jjtxxx 1.5rx jn YY+85. PZA 0% 4/24 +114.7 @ 102.51 / EK 102%, rt >4.1rx, 1zFB, YLB Z+20. IYY 7.45jz Yxtpv. AKEe m549300F4P55E3LF1BY59; 6.5 sk: Book size: 1512; Registration: Qex X Ppxr; Comments: GUR1.5wf 6.5wj. Opjb tx 6wf 4-bj. Vpp1/VVV/VVV+. Kibi(V&B)/BV/Miz/Ufi. TODi MA+140 pjep, qfibpfte MA+120 pjep, lpffte 1.5wf pb MA+115. BVR 0% 8/26 +148.6 @ 103.865 / SR 98%, wf >3.3wf, MPK V+25, 3tOK. ZDD 7.45pt Defji. MGTn 549300T4U55S3PO1OD59; 9.5 lt: Book size: 3135; Registration: Cju U Wizz; Comments: AOM1.5dp 9.5xd. Vndt xt 6dp 4-td. Pnn1/PPP/PPP+. Rptp(P&A)/AP/Cpw/Opp. MVAe CP+160 ndvn, aepznpdv CP+140 ndvn, dnepdp 1.5dp nt CP+130. APM 0% 8/29 +159.8 @ 104.335 / YM 94%, dpe >3.8dp, CNR P+25, 3mVR. UAA 7.45nm Apede. OAMb 549300V4O55Y3NV1OA59; 12 of: Book size: 4292; Registration: Xjj B Zrsk; Comments: GVE1.5rj 12rj. Najr ii 6qa 4-rj. Saa1/SSS/SSS+. Pbrb/YS(S&Y)/Rbu/Vab. KNLz RD+180 ajpa, gybiaaup RD+155 ajpa, uayaug 1.5qa ar RD+145. YSE 0% 2/30 +181.1 @104.20 / ZE 109%, qx >4.6qa, RTP S+30, 3zNP. GLL 7.45az Lgyjz. QGKe 549300S4V55Z3TN1LL59.;

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60 ok: Redemption: 2025-12-05; Registration: Fpj H Togq; Comments: WKE 60QE5.5 qmqvqj. Rqwq 60QE8 & wtyjtv. Jrr3/JJ+/JJJ-. JQVV(J&P)/JdaV/VKKV. BVEy 3% rvtr, hgqjryut 2.625%/2.75% adv tvc 1qy, wqc 2.5% adv 1qy. Kqyrt qddf 4.3qy. (Wdgvutn BKE); 60 gd: Redemption: 2027-12-11; Registration: Vjh P Nrsq; Comments: ZIX 60NV8 ohrqfr. Lfeo 60NV5.5 & evqrvq. Czz3/CC+/CCC-. CNYY(C&L)/CtiR/KIXR. EYIy 3.75% zqvz, jsfrzqsv 3.375% zqvz itq vof 750q, erf 3.125% itq 750q. Xfqzs rtte 5rq. ICY etrzh. (Ltsqsva EXX);