11.Events after the End of the Reporting Period

In keeping with the first chapter of the strategy – “Become the best of who we are” – the Group restructured its organization as of July 1, 2021. The Group’s three reportable segments to date (Polyurethanes, Polycarbonates, and Coatings, Adhesives, Specialties) will be replaced in the future with two new reportable segments: Performance Materials and Solutions and Specialties. The Performance Materials segment forms a separate business entity comprising Covestro’s standard polycarbonates, standard urethane components and base chemicals businesses. The focus here is on reliably delivering standard products at competitive market prices. The Solutions and Specialties segment comprises six business entities: Engineering Plastics, Coatings and Adhesives, Tailored Urethanes, Thermoplastic Polyurethanes, Specialty Films and Elastomers. The focus here is on complex products with a high pace of innovation combined by Covestro with application technology services.

On July 7, 2021, the Eurobond placed in 2016 with a total volume of €500 million and maturing in October 2021 was fully repaid at par value ahead of schedule.

On July 26, 2021, Covestro successfully completed the sale of the assets and liabilities of the system house business in the Middle East to the current co-shareholder Pearl Industries Overseas Ltd., Dubai (United Arab Emirates). The sale has an expected insignificant effect on earnings due to recognition of impairment losses on the assets of the business sold in fiscal year 2020.
See note 4.2 “Acquisitions and Divestitures” in the Consolidated Interim Financial Statements.

Leverkusen (Germany), August 3, 2021

Covestro AG
The Board of Management