Key Data Covestro Group

Reference information was not restated; see “Changes in Accounting as a Result of the Initial Application of IFRS 16.”

Core volume growth refers to the core products in the Polyurethanes, Polycarbonates and Coatings, Adhesives, Specialties segments. It is calculated as the percentage change in externally sold volumes in thousand metric tons compared with the prior year. Covestro also takes advantage of business opportunities outside its core business, for example the sale of precursors and by-products such as hydrochloric acid, sodium hydroxide solution and styrene. These transactions are not included in core volume growth.

Reference values calculated on the basis of the definition of the core business effective March 31, 2019.

EMLA: Europe, Middle East, Africa and Latin America (excluding Mexico) region

NAFTA: United States, Canada and Mexico region

APAC: Asia and Pacific region

EBITDA: EBIT plus the sum of depreciation, amortization, impairment losses and impairment loss reversals

Adjusted EBITDA is not reported because no income or expense items were recognized as special items either in the reporting period or in the corresponding prior-year period.

EBIT: income after income taxes plus financial result and income taxes

Adjusted EBIT is not reported because no income or expense items were recognized as special items either in the reporting period or in the corresponding prior-year period.

Net income: income after income taxes attributable to the stockholders of Covestro AG

Operating cash flows: cash flows from operating activities according to IAS 7

Free operating cash flow: operating cash flows less cash outflows for additions to property, plant, equipment and intangible assets