WEBVTT

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2024 was a stormy year.

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We therefore met the challenges
with flexibility and foresight.

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We fully focused on what
we have in our hands.

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That includes efficiency,
costs and capacity utilization.

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In addition,

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we further sharpened our strategy

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to take account of the
many momentous

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and rapid developments
in our industry

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and in an increasingly complex,
uncertain world.

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In particular,

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we intensified the customer focus
in everything we do.

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At the same time,

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we stayed the course
for our major long-term goals:

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to align Covestro completely
with the circular economy

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and make it climate-neutral.

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We underpinned our pioneering role
in this area last year

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with many measures,

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including additional direct contracts
for the supply of green energy,

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new partnerships
for innovative recycling,

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for example,
in the automotive industry,

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and the completion of
our ambitious climate targets.

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Overall,

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we made Covestro
more weatherproof,

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streamlined and future-oriented.

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The planned acquisition by ADNOC
is the right step

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at the right time for Covestro.

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I am looking forward to it,

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as it is in the best interest
of Covestro,

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our shareholders,

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our employees

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and all other stakeholders.

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The Board of Management
and the Supervisory Board

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unanimously agree
that ADNOC is a strong

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and long-term oriented partner.

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This will help us

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to execute our strategy
even more consistently,

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enabling us to further strengthen

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our foundation
for sustainable growth

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in highly attractive sectors

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and make an even
greater contribution

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to the green transformation.

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ADNOC shares our ambitions,

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is absolutely convinced of our vision
to become fully circular,

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and values our unique

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“We are 1” corporate culture.

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We therefore recommended
that our shareholders

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accept the takeover offer,

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and are pleased

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that such a significant majority
followed our recommendation.

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When I look ahead to 2025,

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I basically think positively.

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At the same time,

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I am a realist:

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2025 will not be easy either.

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But when I see how well
our company is positioned,

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I have no doubt

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that we will master
the new fiscal year

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even under the further
difficult conditions.

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But perhaps the economy
will pick up

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and other framework conditions
change in our favor.

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What feeds my optimism above all

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are our employees
with their know-how,

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their commitment,

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and the very special spirit

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that is based on our
culture and values.

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They deserve my greatest thanks.

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In the future,

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we will promote agile cooperation

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in the company
even more strongly

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and make sure that skills
and talents

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are used in a tailor-made way.

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At the same time,

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we encourage
and empower everyone

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to take advantage of the
immense opportunities

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offered by digitalization
and artificial intelligence,

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because this opens up
sensational new possibilities

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for us everywhere.

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Overall,

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I am full of confidence
for Covestro -

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far beyond 2025.