Analysts´ Ratings

Financial analysts analyze and valuate Covestro and publish analyst reports with an investment recommendation about the company. The following list of key financial analysts has been drawn up to the best of our knowledge. Covestro cannot give any assurance that the list represents a full overview of all analyst reports available on the market.

Any opinions, forecasts, estimates, projections or predictions regarding the performance of Covestro made by the analysts are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of Covestro management. By providing the names of the analysts, Covestro does not imply its endorsement of or concurrence with their reports, conclusions or recommendations. Covestro assumes no liability for the accuracy of such information.

Important notice:

This list serves information purposes only and is not to be interpreted as any recommendation to buy, hold or sell any securities.

Bank	Analyst
Alembic Global	Hassan Ahmed +1 212 907 5351
Baader Bank	Konstantin Wiechert +41 43 388 9213
Bank of America	Matthew Yates +44 207 996 4537
Barclays	Alex Stewart +44 20 355 54957
Berenberg	Sebastian Bray +44 20 3753 3011
Citi	Sebastian Satz +44 20 7986 4025
Deutsche Bank	Virginie Boucher-Ferte +33 144 9559 34
DZ Bank	Peter Spengler -
Exane BNP Paribas	Laurent Favre +44 20 3430 8518
HSBC	Martin Evans +44 20 7991 2814
Jefferies	Chris Counihan +44 20 7548 4676
J.P.Morgan	Chetan Udeshi +44 20 7742 7034
Kepler Cheuvreux	Christian Faitz -
Landesbank Baden-Wuerttemberg	Ulle Wörner -
Metzler	Thomas Schulte-Vorwick +49 69 2104 234
Morgan Stanley	Lisa De Neve +44 20 7677 0250
ODDO BHF	Michael Schäfer +49 69 718 3044a
Onfield Research	Jaideep Pandya +44 203 9500 912
Stifel	Isha Sharma +49 89 99929 8272
UBS	Geoff Haire +44 20 7568 8327

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