This Report may contain forward-looking statements based on assumptions and forecasts made by the management of Covestro AG, Leverkusen (Germany), at the time the report was prepared. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development, or performance of the Group and the estimates given here. The various factors include those discussed in Covestro’s public reports, which are available at www.covestro.com. The company assumes no liability whatsoever to update such forward-looking statements or to conform them to future events or developments.
KPMG AG Wirtschaftsprüfungsgesellschaft, Essen (Germany), audited the Consolidated Financial Statements of Covestro AG and the Combined Management Report during the financial statement audit required by law, and issued an unqualified audit opinion. Pursuant to Section 317 (2) sentence 6 of the German Commercial Code (HGB), the disclosures in the combined Declaration on Corporate Governance were not included in the financial statement audit. The disclosures in the Nonfinancial Group Statement contained in the Combined Management Report pursuant to Sections § 315b, 315c HGB and the disclosures in the Group Sustainability Statement were not included in the auditor’s substantive audit of the consolidated financial statements. In addition, the compensation report forms an integral part of this Annual Report. The compensation report was subjected to a substantive audit, including the formal examination required by Section 162 of the German Stock Corporation Act (AktG), and issued with an unqualified audit opinion, which confirms that the compensation report, including the related disclosures, complies in all material respects with the financial reporting requirements of Section 162 AktG.
The Group Sustainability Statement contained in the Combined Management Report was prepared in accordance with the requirements for a nonfinancial group statement of Directive (EU) 2022/2464 of the European Parliament and of the Council of December 14, 2022 (Corporate Sustainability Reporting Directive, CSRD), Article 8 of Regulation (EU) 2020/852, applying Commission Delegated Regulation (EU) 2026/73 of July 4, 2025, as well as Sections 315b and 315c HGB. The Combined Management Report was subjected to a separate review with limited assurance pursuant to the International Standard on Assurance Engagements (ISAE) 3000 Revised by KPMG AG Wirtschaftsprüfungsgesellschaft, Düsseldorf (Germany). In a separate review, selected disclosures in the Declaration on Corporate Governance in the general part of the Combined Management Report were also reviewed with limited assurance. The parts reviewed with limited assurance are presented in square brackets. This relates to those disclosures for which reporting is mandatory as part of nonfinancial reporting on the role of the administrative, management, and supervisory bodies (ESRS 2 GOV-1) when the European Sustainability Reporting Standards (ESRS) are applied in full. In addition, disclosures under ESRS that are made outside the Group Sustainability Statement are presented in chevrons and identified by a specific ESRS reference.
The following table summarizes the symbols described above:
| Legend of Symbols | ||
|---|---|---|
| Symbol | Meaning | Relevant Report Sections |
| [ ] | Content outside the Group Sustainability Statementt that has undergone an audit with limited assurance | Declaration on Corporate Governance |
| » « | Disclosures according to ESRS that are made outside the Group Sustainability Statement | Management Report (excluding Group Sustainability Statement), Declaration on Corporate Governance |
Content not covered by the Combined Management Report, including the Group Sustainability Statement, compensation report, and consolidated financial statements, such as information provided on websites, is not included in the substantive audit conducted by the KPMG AG Wirtschaftsprüfungsgesellschaft.
As the indicators in this Report are stated in accordance with commercial rounding principles, totals and percentages may not always be exact. If a deviation changes from positive to negative or vice versa, or if it is greater than 1,000%, this is shown by a period.
Inclusion and belonging are important to us. To ensure better readability, we therefore strive to use gender-neutral language and avoid gender-specific terms in this Report. All terms should be taken to apply equally to all genders.
This Annual Report was published on February 26, 2026. It is available in German and English. The German version is binding. In addition to publication in this report, components subject to disclosure requirements in accordance with Section 328 (1) sentence 4 HGB are published in the company register, in compliance with the provisions of the European Single Electronic Format (ESEF) Regulation. They are accessible via the website www.unternehmensregister.de.