BoAML Global Agriculture and

Materials Conference

Delivering World Class

Innovation
///////////

Bob Reiter, Ph.D.

Head of R&D, Crop Science

Division February 27, 2020

 Forward-Looking Statements

This presentation may contain forward-looking statements based on current assumptions and forecasts
made by Bayer management.

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 company and the
estimates given here. These factors include those discussed in Bayer’s public reports which are available
on the Bayer website at http://www.bayer.com/.

The company assumes no liability whatsoever to update these forward-looking statements or to conform
them to future events or developments.

2 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
Shaping Agriculture to Benefit Farmers, Consumers and Our Planet
As the Industry Leader Uniquely Positioned to Create Value through Innovative Tailored Solutions

We seek to deliver world-class innovation, Seed & Traits

new standards in sustainability and

pioneer a digital transformation in
Tailored
agriculture Solutions
to feed a growing global population Digital Ag Crop
Protection
3
Shaping Agriculture to Benefit Farmers, Consumers and Our Planet
/// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Each Plot

=1
0
Future

2019

Bushel Yield

2
0
1
8

2
0
0
0

1
9
8
0
 that

Pro reduced
impact
1
meeting the needs of a
4 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020

duc growing population on an

increasingly hotter

ing
Bet
ter
The history
of corn
production
plot
demonstrate
s the great
strides we
have made
in producing
more with
less, and the
opportunity
we have to
continue
“produce
better”
through
tailored
solutions
 Enhancing Sustainability and Biodiversity in Agriculture
Bayer’s Sustainability Commitments by 2030

Advancing a carbon-
zero future for
30
Reduction in field
Climate-smart practices:
No-tillage Highly Productive Crops
Cover Crops Precision Agriculture
Optimize use of synthetic fertilizers
agriculture greenhouse gases through the use of microbes
emitted per kg of crops
through helping our customers reduce field
produced
greenhouse gases by crop production.

Pro r uts
.
duce nat
high ura
er- l
Empo
yield res
wer
ing our
100
crop ces
million
s an
smallh
with d
older
fewe inp
farmer
5 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Enhancing Sustainability and Biodiversity in Agriculture
Smallholders benefit e.g.
s
3
Cl Resistant c
from access to education, im traits help e e
tailored solutions & partners at to reduce f
e pesticide n f
i

0
Fi use e
el w c
Develop i
d ,
crop e
Vi
protection n
Red e
products
h
ucti w i t
on with lower
fo g
in environmen r
r h
imp tal impact i
act pr e
ec r c
on e
isi Enhanc -
the
on ing y
envir ap i h
onm social y
pli innovat e
ent ca l b
ion r
tio (e.g. d
n i i
with d
of n

1
Better s
pe Life g
sti Farmin ,
ci g)
de r

0 s/
fe
rtil
iz
Digital
transfor
mation
with
e
s
o
u

6
0
/// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
er
s
FarmRi
se
Introdu
r
c
e
 Unmatched Investment in R&D Powers Industry-Leading Profitability
Shaping the Future of Agriculture with Most Productive Innovation Platform in the Industry

Ag R&D Expense (€bn)1

#1 R&D Platform in Crop Science

2.3

>7,800 R&D employees in >50 countries 2

1.0 0.9 0.9

>20 large-scale R&D centers
Partner of
Bayer Crop Corteva Syngenta BASF Ag
Science Group
Technology provider to the industry
Seed & Traits AgChem

1
Bayer and Corteva based on 2019 reported R&D and there is an internal proforma estimate derived from company reports for the newly formed Syngenta Group. Proforma estimate for the SYT group includes the 2019 reported R&D expense
for Syngenta – not including capitalized R&D of $344M– to be comparable to peers in the chart. The Syngenta Group estimate does not consider Sinochem R&D. BASF is based on 2018 reported R&D expense.
2
Includes permanent and temporary employees

6 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Leveraging Open Model for Incremental and Disruptive Innovation
Enabling Innovation and Effective Delivery on Industry-Leading Pipeline

Incremental Innovation Open Innovation Model

Annual germplasm upgrades Technology Collaborations Customer-sponsored Research

New modes of action in weed, insect and disease control
through biotech and crop protection
New formulations and uses in crop protection to expand
spectrum and crops
Universities & Research Institutes

Disruptive Innovation
Genome-editing Venture Capital

Crowdsourcing
Next generation biological science Precision breeding
Drone application technology New modalities for crop Grants4Targets T

MGrants4Traits
TM

protection

7 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Next Growth Opportunity: Convergence of Leading R&D Platforms
Continued Investment in Data Science and New Technologies are Driving Future Opportunity

Strong
discovery platform
170,000 #1 database
for molecules with microbes in collection
of grower and field trial
new modes-of-action
and differentiated >10,000 seed performance data
Leading
germplasm libraries Reach >350m profiles microbes screened in
in the industry

>1.7T calculations
acres annually
30-60 molecules vitro
and in planta annually >95m paid acres
selected for field trials a
in cloud-based algorithms >20 new and next- year ~80m acres
in U.S.A., Latin America
and Europe represents
>3,200 unique field generation traits in
development Expect >100 new
of commercial
products reached
industry’s leading
platform reach
testing locations
formulations to launch in the annually in row crops
next decade
Breeding Biotech Chemistry Biologicals Data Science

Seeds & Traits + Crop Protection + Digital Ag

8 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Next Growth Opportunity: Convergence of Leading R&D Platforms
Best positioned to discover, combine and tailor solutions for growers

9 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Driving the Largest and Most Valuable R&D Pipeline in Ag
Converting Investment into Meaningful Products for Farmers

Productive and Prolific Pipeline in 2019 Value of Up to €30bn in

Peak Sales1
Breeding ~45% Incremental
Seeds & Traits
Biotech

Chemistry Crop Protection

35 Advancements2
generated by projects in
seed & traits, crop
Horticulture
~€3-4bn
Corn
~€11-14bn

protection and digital ag Cereals &

Biologicals
Digital Ag pipelines Other
~€3-4bn
Data Science

Soybean

450 New hybrids and varieties

commercialized 20 New crop protection
formulations advanced
~€6-8bn

+
9 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Driving the Largest and Most Valuable R&D Pipeline in Ag
1
Represents non-risk adjusted estimated peak sales for the combined breeding, biotech, crop protection and environmental science pipelines.
2.
Includes 8 biotech, 4 breeding, 5 chemistry and 18 data science advancements.

1 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
0
 Advancing Agriculture with a Decade of Transformative
Products
Key Product Highlights Featured Represent >€22bn3 of Peak Sales Potential
Select Planned Product Launches1

2020 2021 2022 2023//2027 2028 2029 2030

Expected Ongoing Refreshment

New Soybean Selective New Non- New Mode of

New Formulation Launches
Herbicides 35+ in the next Decade
Herbicide Mixtures Selective PPO Action Herbicide
Herbicide2
New Autumn Herbicides for Cereals

3rd, 4th and 5th Generation Herbicide Tolerance Traits

Corn 150+ New Hybrids
Commercialized Annually
FieldView Advanced Seed
Scripting
FieldView Seed Advisor trait Short Stature Corn Hybrids/Short Stature Corn Trait

Soybeans 150+ New Varieties

Commercialized Annually FieldView Seed 4th and 5th Generation Herbicide Tolerance Traits
Placement

20+ New Formulation Launches

Fox Supra (Indiflin®) for
New Fungicide for
Fungicides Soybeans2
in the next Decade Asian Soybean Rust
(isoflucypram) for
Cereals

20+ New Formulation Launches (tetraniliprole) for Corn,

Insecticides Novel Mite Solution
in the next Decade Rice, Horticulture and Other
Crops

Oth er, Vegetables, Environmental Science, Seed Growth

10 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Advancing Agriculture with a Decade of Transformative alized Annually
~150 20+
Products
Vegetable 3rd Gen BioRise Microbial
Hybrids/Va New Formulation Launches in the
next Decade
Seed Treatment
rieties
Commerci
Lygus & Thrips Control Cotton Trait

1
Subject to regulatory approvals and pending registrations. Represents a subset of the pipeline. Launches are all approximates.
2
In collaboration with Sumitomo. 3. Internal estimate; ~45% of the peak sales potential is incremental

11 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Advanced Breeding Underpins Leadership in Corn Seed & Traits
Expect to Commercialize >150 Corn Hybrids a Year to Drive Growth in €4.8bn2 Corn Seed & Traits Sales

Europe
#2
United States

Avg. bu/ac advantage1 7-10

# 1
Market Pos.
Avg. bu/ac advantage1 3-4 Market Pos.

Mexico
# 1
Market Pos. Avg. bu/ac advantage1 >5

#
1
Market Pos.
Brazil

Avg. bu/ac advantage1 >10

South Africa
Argentina # 1
# 1
Market Pos.
Avg. bu/ac advantage1 >5 Market Pos.

Avg. bu/ac advantage1 >10

1
Range is either less than or inclusive of the current 3-year average yield advantage based on a comparison of yield data from new Bayer Crop Science products in their year of deployment against competitive market leaders for said region or country.
Averages weighted in countries/regions by hybrid market size and exclude non-grain market.
11 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Advanced Breeding Underpins Leadership in Corn Seed & Traits
2
2018 proforma sales

12 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 XtendFlex Soybeans Advancing to Launch Phase Spring 20201
Built on the Proven Performance Roundup Ready 2 Xtend Soybeans

# 1 Soybean system
planted by farmers

Provides exceptional weed control and yield with a

Glyphosate
triple- stack herbicide-tolerance trait providing growers
with the flexibility of three over-the-top herbicide options:
Low- Glufosinate
Glyphosate Dicamb
Volatility a
Low-Volatility Dicamba
Increases spectrum of control from 350 to 375 weed Enables
species; Enlist E3™ system only controls 2602 continued use
of conservation
Average 2019 yield and agronomic performance tillage and no-
consistent with Roundup Ready 2 Xtend soybeans3 till systems
which improve
Acres in the U.S. expected to be limited in first year carbon
sequestration
and soil health
1
Commercial availability pending regulatory
approval
2.
Based on EPA labels for the chemistries.
3
Derived from 26 site locations in SC, NE, IN, IL, WI, MO, IN, AR, IA, NC, KS, SD, OH & GA

Xtendimax with VaporGrip Technology is a Restricted Use Pesticide. Always read and follow label instructions. Products not registered in all jurisdictions.
12 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Enlist E3™ is trademark of Corteva

13 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020
 Digital R&D Pipeline
*R&D Phases: Pipeline status with color highlighting significant development,
P = Phosphorus progress or advancement in R&D and commercial work
1 – Proof of Concept, 2 – Development, 3 – Pre-Commercial, 4 – Commercial / Launch, 5 – Post-Commercial / Enhancement Progress achieved Phases 1 through 5
** All crops and/or regions enabled in FieldView K = Potassium

26 /// BoAML Global Agricultural and Chemicals Conference /// February 27, 2020