COVESTRO AG EUR 5,000,000,000 Debt Issuance Programme

 
2nd Supplement, dated September 7, 2018 to the Base Prospectus dated March 9, 2018 as supplemented by the
1st Supplement dated June 18, 2018
 This document constitutes a supplement (the "Supplement") for the purposes of Art. 16 (1) of Directive 2003/71/EC of the European Parliament
 and of the Council of November 4, 2003, as amended (the "Prospectus Directive") and Art. 13 (1) of the Luxembourg law on prospectuses for
 securities (loi relative aux prospectus pour valeurs mobilières) dated July 10, 2005 as amended (the "Luxembourg Prospectus Law") which
 implements the Prospectus Directive into Luxembourg law, to the base prospectus of Covestro AG, dated March 9, 2018, (the "Base Prospectus")
 relating to issues of non-equity securities within the meaning of Art. 22 No. 6 (4) of Commission Regulation (EC) No. 809/2004 of April 29,
 2004, as amended.

                                                  COVESTRO AG
          (incorporated as a stock corporation (Aktiengesellschaft) in the Federal Republic of Germany)

                    EUR 5,000,000,000 Debt Issuance Programme

The Commission de Surveillance du Secteur Financier (the "CSSF") of the Grand Duchy of Luxembourg in its
capacity as competent authority under the Prospectus Directive has approved this Supplement as a supplement
within the meaning of Art. 16 (1) of the Prospectus Directive pursuant to article 13 (1) of the Luxembourg
Prospectus Law. By approving this Supplement, CSSF gives no undertaking as to the economic and financial
soundness of the operation or the quality or solvency of the Issuer.
The Issuer has requested the CSSF to provide the competent authorities in the Federal Republic of Germany
("Germany"), the Republic of Austria and The Netherlands with a certificate of approval attesting that this
Supplement has been drawn up in accordance with the Luxembourg Prospectus Law. The Issuer may request the
CSSF to provide competent authorities in additional host member states within the European Economic Area with
such notification.
                                                        Right to withdraw
In accordance with Article 13 paragraph 2 of the Luxembourg Prospectus Law, investors who have already
agreed to purchase or subscribe for securities before the Supplement is published have the right, exercisable
within two working days after the publication of this Supplement, to withdraw their acceptances, provided
that the new factor arose before the final closing of the offer to the public and the delivery of the securities.
The final date for the right of withdrawal will be September 11, 2018.
This Supplement together with the Base Prospectus, the 1st supplement to the Base Prospectus dated June 18, 2018
and the documents incorporated by reference are also available for viewing at www.bourse.lu.
The purpose of this Supplement is to supplement the Base Prospectus with information from the unaudited
consolidated interim financial statements of the Issuer as of and for the six-month period ended June 30, 2018 and
to amend other disclosure on the Issuer.
This Supplement is supplemental to, and should be read in conjunction with the Base Prospectus as supplemented
by the 1st Supplement dated June 18, 2018. Terms defined in the Base Prospectus have the same meaning when
used in this Supplement.
Covestro AG, Leverkusen ("Covestro AG" or the "Issuer", together with its consolidated subsidiaries, "Covestro
Group" or the "Group") with its registered office in Leverkusen, Germany accepts responsibility for the
information given in this Supplement.

The Issuer hereby declares that, having taken all reasonable care to ensure that such is the case, the information
contained in this Supplement for which it is responsible is, to the best of its knowledge, in accordance with the
facts and contains no omission likely to affect its import.
The Arranger and the Dealers have not separately verified the information contained in this Supplement. Neither
the Arranger nor any of the Dealers makes any representation, expressly or implied, or accepts any responsibility,
with respect to the accuracy or completeness of any information contained in this Supplement. Neither this
Supplement nor any other financial statements are intended to provide the basis of any credit or other evaluation
and should not be considered as a recommendation by the Issuer, the Arranger or the Dealers that any recipient of
this Supplement or any other financial statements should purchase the Notes. Each potential purchaser of Notes
should determine for itself the relevance of the information contained in this Supplement and its purchase of Notes
should be based upon such investigation as it deems necessary. None of the Arranger or the Dealers undertakes to
review the financial condition or affairs of the Issuer during the life of the arrangements contemplated by this
Supplement nor to advise any investor or potential investor in the Notes of any information coming to the attention
of any of the Dealers or the Arranger.
To the extent that there is any inconsistency between any statement included in this Supplement and any statement
included or incorporated by reference in the Base Prospectus, the statements in this Supplement will prevail.
Save as disclosed on pages 2-17 of this Supplement, there has been no other significant new factor, material
mistake or inaccuracy since the publication of the Base Prospectus.

1.   Notice – Benchmark Regulation

On page 3 of the Base Prospectus, the paragraph "BENCHMARK REGULATION - STATEMENT IN RELATION
TO ADMINISTRATOR'S REGISTRATION" shall be replaced by the following:
"BENCHMARK REGULATION - STATEMENT IN RELATION TO ADMINISTRATOR'S
REGISTRATION – Amounts payable under floating rate Notes issued under the Programme are calculated by
reference to (i) the Euro Interbank Offered Rate ("EURIBOR") which is provided by the European Money Markets
Institute ("EMMI") or (ii) the London Interbank Offered Rate ("LIBOR") which is provided by the ICE
Benchmark Administration Limited ("IBA"). As at the date of this Base Prospectus, EMMI does not appear on the
register of administrators and benchmarks established and maintained by the European Securities and Markets
Authority ("ESMA") pursuant to Article 36 of the Benchmark Regulation (Regulation (EU) 2016/1011) (the
"Benchmark Regulation") while IBA has been included therein as of 30 April 2018. As far as the Issuer is aware,
the transitional provisions in Article 51 of the Benchmark Regulation apply, such that EMMI is not currently
required to obtain authorisation or registration (or, if located outside the European Union, recognition, endorsement
or equivalence)."

2.   Summary - Section B - Issuer - Element B.12

On pages 9 and 10 of the Base Prospectus, in Element B.12 of the Summary, the section "Selected historical key
financial information" shall be replaced by the following:
"
      B.12           Selected historical key financial information

                     Consolidated Income Statement
                                                                           For the six-month period                     Financial year ended
                                                                                ended June 30,                             December 31,
                                                                            2018            2017(1)                     2017(1)         2016
                     (amounts in EUR million, earnings per
                     share in EUR)                                                  (unaudited)                                (audited)
                     Sales                                                        7,642                 7,084               14,138                 11,904
                     Gross profit                                                 2,814                 2,338                4,830                  3,293
                     EBIT(2)                                                      1,733                 1,375                2,808                  1,331
                     Financial result                                              (55)                  (88)                (150)                  (196)
                     Income before income taxes                                   1,678                 1,287                2,658                  1,135
                     Income after income taxes                                    1,252                   955                2,017                    806
                     Basic earnings per share                                    6.31(3)                 4.70               9.93(4)                  3.93
                     Diluted earnings per share                                  6.31(3)                 4.70               9.93(4)                  3.93

                     (1) As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with
                     Costumers) accounting standard retroactively. Prior-year figures have not been adjusted.
                     (2) EBIT: income after income taxes plus financial result and income tax expenses.
                     (3) Weighted average number of outstanding no-par voting shares of Covestro AG in issue: 197,746,827 (previous year:
                     202,500,000).
                     (4) Weighted average number of outstanding no-par voting shares of Covestro AG in issue: 202,396,416 (previous year:
                     202,500,000).

                                                                     2
Consolidated Statement of Financial Position
                                                                                As of June 30,                         As of December 31,
                                                                                    2018                              2017(1)          2016
                    (amounts in EUR million)                                     (unaudited)                                 (audited)
                    Noncurrent assets                                                                5,633                5,606          5,966
                    Current assets                                                                   5,269                5,735          4,268
                    Total assets                                                                    10,902               11,341         10,234
                    Equity                                                                           5,505                5,365          4,216
                    Equity attributable to Covestro AG
                    stockholders                                                                     5,474                 5,335                  4,189
                    Noncurrent liabilities                                                           2,981                 2,885                  3,544
                    Current liabilities                                                              2,416                 3,091                  2,474
                    Total equity and liabilities                                                    10,902                11,341                 10,234

                   (1) As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with
                   Costumers) accounting standard retroactively. Prior-year figures have not been adjusted.

                   Trend information
                   There has been no material adverse change in the prospects of Covestro AG since the date of the last
                   published audited consolidated financial statements dated December 31, 2017.
                   Significant change in the financial and trading position
                   Not applicable. There has been no significant change in the financial or trading position of Covestro
                   AG since the last unaudited consolidated financial information dated June 30, 2018.
                                                                                                                                                  "
3.   Summary - Section B - Issuer - Element B.13

     On page 10 of the Base Prospectus, in Element B.13 of the Summary, the section "Recent Events" shall be
     replaced by the following:
     "
         B.13      Recent Events                                       In the Polycarbonates segment, Covestro Group signed an
                                                                       agreement on March 14, 2018, on the sale of assets and
                                                                       liabilities (disposal group) of the North American
                                                                       polycarbonates sheet business to Plaskolite LLC, Columbus
                                                                       (United States). The transaction closed successfully on
                                                                       August 1, 2018.
                                                                       The Covestro Board of Management has resolved on
                                                                       October 24, 2017 to buy back own shares worth a maximum
                                                                       notional amount of EUR 1.5 billion or up to 10% of the
                                                                       outstanding capital stock, depending on which value is
                                                                       reached first. This decision is based on the authorization of
                                                                       the Annual General Meeting of September 1, 2015. The
                                                                       buyback of a first tranche of shares was concluded in
                                                                       February 2018 and the buyback of a second tranche of shares
                                                                       in July 2018. The third tranche is being carried out in the
                                                                       period between August 13, 2018 and February 8, 2019.
                                                                       On July 18, 2018, Covestro Group announced that it intends
                                                                       to significantly expand its global film production to meet the
                                                                       growing demand in all regions. In particular, capacity
                                                                       expansions are planned at Map Ta Phut, Thailand,
                                                                       Guangzhou, China, South Deerfield, USA, and Dormagen,
                                                                       Germany. The total investment of more than EUR 100
                                                                       million also includes the expansion of the associated
                                                                       infrastructure and logistics.
                                                                       On July 30, 2018, Moody's raised the credit rating of the
                                                                       Issuer from Baa2 to Baa1 with stable outlook.
                                                                       On August 13, 2018, MSCI raised the Issuer's sustainability
                                                                       rating from BBB to A. The financial services provider's
                                                                       reason for the upgrade was Covestro Group's stepped-up
                                                                       focus on sustainable product solutions and technologies as
                                                                       well as continual improvement in safety standards.
                                                                                                                                                  "

                                                                   3
4.      Summary - Section B - Issuer - Element B.16

        On page 11 of the Base Prospectus, in Element B.16 of the Summary, the section "Major shareholders" shall
        be replaced by the following:
        "
            B.16              Major shareholders                                      On the basis of the notifications received by Covestro AG as
                                                                                      of the date of this Base Prospectus in accordance with the
                                                                                      German Securities Trading Act (Wertpapierhandelsgesetz -
                                                                                      WpHG) and pursuant to information provided by the
                                                                                      respective shareholders, the following shareholders directly
                                                                                      or indirectly hold more than 3 per cent. of Covestro AG's
                                                                                      ordinary shares. The percentage values shown in the table
                                                                                      below are based on the amount of voting rights last notified
                                                                                      to Covestro AG with regard to the stated reference date by
                                                                                      the respective shareholder pursuant to Sections 33 et seqq.
                                                                                      WpHG (without taking into account voting rights attached
                                                                                      to financial instruments) in relation to Covestro AG's share
                                                                                      capital as of the date of this Base Prospectus. It should be
                                                                                      noted that the number of voting rights last notified could
                                                                                      have changed since such notifications were submitted to
                                                                                      Covestro AG without requiring the relevant shareholder to
                                                                                      submit a corresponding voting rights notification if no
                                                                                      notifiable thresholds have been reached or crossed:

                                                                                                                               Actual (direct or indirect
                                                                                                                               ownership of Covestro
                                                                                                                               AG
                                                                                        Shareholder                            Share of voting rights
                                                                                                                               13,791,540 voting rights
                                                                                        Bayer AG
                                                                                                                               (6.81%)
                                                                                                                               10,455,558 voting rights
                                                                                        BlackRock Inc.
                                                                                                                               (5.16%)
                                                                                        Covestro AG (treasury                  11,708,763 voting rights
                                                                                        shares) *                              (5.78%)
                                                                                                                               35,955,861 voting rights
                                                                                        Total
                                                                                                                               (17.75%)
                                                                                        * The voting rights of treasury shares are suspended.
                                                                                                                                                                   "

5.      Summary - Section B - Issuer - Element B.17

        On page 12 of the Base Prospectus, in Element B.17 of the Summary, the section "Credit ratings of Covestro
        AG or its debt securities" shall be replaced by the following:
        "
            B.17              Credit ratings of Covestro AG or its                    Moody's Investors Service Limited ("Moody's") has
                              debt securities                                         assigned a "Baa1"1 rating (outlook stable) to Covestro AG.

1
     The Credit rating included or referred to in this Base Prospectus has been issued by Moody's, which is established in the European Union and are registered
     under Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies and included in the list
     of registered credit rating agencies published on the website of the European Securities and Markets Authority at
     https://www.esma.europa.eu/supervision/credit-rating-agencies/risk.
     Moody's defines "Baa2" as follows: "Obligations rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain
     speculative characteristics. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier 1 indicates
     that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a ranking
     in the lower end of that generic rating category"
                                                                                 4
[The [expected] rating of the Notes is [●]2 from [●]3.] [Not
                                                                                    applicable. The Notes are not rated.]

                                                                                                                                                               "

6.      German Translation of the Summary- Abschnitt B - Emittentin - Element B.12

        On pages 24 and 25 of the Base Prospectus, in Element B.12 of the German Translation of the Summary, the
        section "Ausgewählte historische Finanzinformationen" shall be replaced by the following:
        "
            B.12              Ausgewählte historische Finanzinformationen
                              Konsolidierte Gewinn-und Verlustrechnung

                                                                                Für den Sechsmonatszeitraum                   Für das Geschäftsjahr
                                                                                     endend am 30. Juni                      endend am 31. Dezember
                                                                                     2018         2017(1)                      2017(1)       2016
                               (Beträge in Millionen Euro, Ergebnis
                               je Aktie in Euro)                                              (ungeprüft)                              (geprüft)
                               Umsatzerlöse                                                  7.642               7.084             14.138               11.904
                               Bruttoergebnis vom Umsatz                                     2.814               2.338              4.830                3.293
                               EBIT(2)                                                       1.733               1.375              2.808                1.331
                               Finanzergebnis                                                   -55                -88               -150                 -196
                               Ergebnis vor Ertragssteuern                                   1.678               1.287              2.658                1.135
                               Ergebnis nach Ertragssteuern                                  1.252                 955              2.017                  806
                               Unverwässertes Ergebnis je Aktie                             6,31(3)               4,70             9,93(4)                3,93
                               Verwässertes Ergebnis je Aktie                               6,31(3)               4,70             9,93(4)                3,93

                              (1) Zum 1. Januar 2018 wendet Covestro den neuen Rechnungslegungsstandard IFRS 9 (Financial Instruments) und IFRS 15
                              (Revenue from Contracts with Costumers) retrospektiv an. Die Vorjahreszahlen wurden nicht angepasst.
                              (2) EBIT: Ergebnis nach Ertragsteuern zuzüglich Finanzergebnis und Ertragsteueraufwand.
                              (3) Gewichtete durchschnittliche Anzahl der ausgegebenen, ausstehenden stimmberechtigten Stückaktien der Covestro AG:
                              197.746.827 (Vorjahr: 202.500.000).
                              (4) Gewichtete durchschnittliche Anzahl der ausgegebenen, ausstehenden stimmberechtigten Stückaktien der Covestro AG:
                              202.396.416 (Vorjahr: 202.500.000).

     Holders should be aware that a credit rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn by the rating agency at
     any time.

2
     [Insert brief explanation of the meaning of the rating.]

3    [Indicate whether the rating agency is established in the European Community and is registered under the CRA Regulation.]

                                                                                5
Konsolidierte Bilanz
                                                                             Zum 30. Juni                       Zum 31. Dezember
                                                                                 2018                          2017(1)          2016
                   (Beträge in Millionen Euro)                                (ungeprüft)                             (geprüft)
                   Langfristige Vermögenswerte                                                  5.633             5.606           5.966
                   Kurzfristige Vermögenswerte                                                  5.269             5.735           4.268
                   Gesamtvermögen                                                              10.902            11.341          10.234
                   Eigenkapital                                                                 5.505             5.365           4.216
                   Aktionären der Covestro AG
                   zurechenbarer Anteil am Eigenkapital                                         5.474              5.335              4.189
                   Langfristiges Fremdkapital                                                   2.981              2.885              3.544
                   Kurzfristiges Fremdkapital                                                   2.416              3.091              2.474
                   Gesamtkapital                                                               10.902             11.341             10.234

                   (1) Zum 1. Januar 2018 wendet Covestro den neuen Rechnungslegungsstandard IFRS 9 (Financial Instruments) und IFRS 15
                   (Revenue from Contracts with Costumers) retrospektiv an. Die Vorjahreszahlen wurden nicht angepasst.

                   Trendinformation
                   Die Aussichten der Covestro AG haben sich seit dem Datum des letzten veröffentlichten, geprüften
                   Konzernabschlusses zum 31. Dezember 2017 nicht wesentlich nachteilig verändert.
                   Wesentliche Veränderungen in der Finanzlage und Handelsposition
                   Entfällt. Es hat seit dem Datum der letzten ungeprüften Konzernfinanzinformationen zum 30. Juni 2018
                   keine wesentlichen Veränderungen in der Finanzlage und Handelsposition der Covestro AG gegeben.
                                                                                                                                          "

7.   German Translation of the Summary - Abschnitt B - Emittentin - Element B.13

     On page 25 of the Base Prospectus, in Element B.13 of the German Translation of the Summary, the section
     "Jüngste Ereignisse" shall be replaced by the following:
     "
         B.13      Jüngste Ereignisse                                 Am 14. März 2018 hat die Covestro Gruppe im Segment
                                                                      Polycarbonates eine Vereinbarung über den Verkauf des
                                                                      nordamerikanischen Polycarbonat-Platten-Geschäfts an
                                                                      Plaskolite LLC, Columbus (USA), unterzeichnet. Die
                                                                      Transaktion wurde am 1. August 2018 erfolgreich
                                                                      abgeschlossen.
                                                                      Der Vorstand der Covestro AG hat am 24. Oktober 2017
                                                                      beschlossen, dass die Emittentin eigene Aktien bis zu einem
                                                                      Gesamtwert von EUR 1,5 Mrd. (ohne Nebenkosten) oder bis
                                                                      zu 10% des Grundkapitals, abhängig davon, welcher Wert
                                                                      zuerst erreicht wird, erwerben wird. Dieser Beschluss erfolgt
                                                                      unter der am 1. September 2015 von der Hauptversammlung
                                                                      erteilten Ermächtigung. Der Rückkauf einer ersten Tranche
                                                                      von Aktien wurde im Februar 2018 abgeschlossen und der
                                                                      Rückkauf einer zweiten Tranche im Juli 2018. Der Rückkauf
                                                                      einer dritten Tranche wird zwischen dem 13. August 2018
                                                                      und dem 8. Februar 2019 durchgeführt.
                                                                      Am 18. Juli 2018 hat die Covestro Gruppe die Absicht
                                                                      bekannt gegeben seine weltweite Folienproduktion deutlich
                                                                      ausbauen, um die steigende Nachfrage in allen Regionen zu
                                                                      decken. Insbesondere sind Kapazitätserweiterungen an den
                                                                      Standorten Map Ta Phut, Thailand, dem chinesischen
                                                                      Guangzhou, in South Deerfield, USA, sowie in Dormagen
                                                                      geplant. In der Gesamtinvestition von mehr als EUR 100
                                                                      Millionen ist auch ein Ausbau der zugehörigen Infrastruktur
                                                                      und Logistik enthalten.
                                                                      Am 30. Juli 2018 hat Moody's die Bonitätsnote der
                                                                      Emittentin von Baa2 auf Baa1 mit stabilem Ausblick
                                                                      angehoben.

                                                                  6
Am 13. August 2018 hat MSCI das Nachhaltigkeits-Rating
                                                         von Covestro von BBB auf A angehoben. Der
                                                         Finanzdienstleister begründete das Upgrade mit dem
                                                         verstärkten Fokus der Covestro Gruppe auf nachhaltige
                                                         Produktlösungen und Technologien sowie mit stetig
                                                         verbesserten Sicherheitsstandards.
                                                                                                                   "
8.   German Translation of the Summary - Abschnitt B - Emittentin - Element B.16

     On page 26 and 27 of the Base Prospectus, in Element B.16 of the German Translation of the Summary, the
     section "Hauptanteilseigner" shall be replaced by the following:
     "
         B.16      Hauptanteilseigner                    Auf Grundlage der durch die Covestro AG empfangenen
                                                         Benachrichtigungen gemäß Wertpapierhandelsgesetz und
                                                         gemäß den von den jeweiligen Anteilseignern übermittelten
                                                         Informationen halten die folgenden Anteilseigner direkt
                                                         oder indirekt mehr als 3% der Aktien der Covestro AG. Die
                                                         in der untenstehenden Tabelle dargestellten Anteile basieren
                                                         auf der Anzahl der Stimmrechte wie sie der Covestro AG
                                                         zuletzt zum dargestellten Zeitpunkt von den jeweiligen
                                                         Anteilseignern gemäß § 33 Wertpapierhandelsgesetz
                                                         mitgeteilt wurden (ohne Berücksichtigung von durch
                                                         Finanzinstrumente vermittelte Stimmrechte) und beziehen
                                                         sich auf das Stammkapital der Covestro AG zum Zeitpunkt
                                                         dieses Basisprospekts. Zu beachten ist, dass sich die Anzahl
                                                         der Stimmrechte dieser Anteilseigner seit der Mitteilung an
                                                         die Covestro AG verändert haben könnte, ohne dass die
                                                         jeweiligen Anteilseigner verpflichtet gewesen sind eine
                                                         entsprechende Mitteilung zu veröffentlichen, da keine
                                                         relevanten      Stimmrechtsschwellen       erreicht     oder
                                                         überschritten wurden.
                                                                                       Tatsächliche     (direkte
                                                                                       oder           indirekte)
                                                                                       Beteiligung    an     der
                                                                                       Covestro AG
                                                          Anteilseigner                Anzahl der Stimmrechte
                                                                                       13.791.540 Stimmrechte
                                                          Bayer AG
                                                                                       (6,81%)
                                                                                       10.455.558 Stimmrechte
                                                          BlackRock Inc.
                                                                                       (5,16%)
                                                          Covestro AG (Eigene          11.708.763 Stimmrechte
                                                          Aktien) *                    (5,78%)
                                                                                       35.955.861 Stimmrechte
                                                          Gesamt
                                                                                       (17,75%)
                                                          * Das Stimmrecht ruht bei eigenen Aktien.
                                                                                                                   "

                                                     7
9.      German Translation of the Summary - Abschnitt B - Emittentin - Element B.17

        On page 27 of the Base Prospectus, in Element B.17 of the German Translation of the Summary, the section
        "Ratings der Covestro AG oder ihrer Schuldverschreibungen" shall be replaced by the following:
        "
            B.17              Ratings der Covestro AG oder ihrer                     Moody's Investors Service Limited ("Moody's") hat das
                              Schuldverschreibungen                                  Kreditrating der Covestro AG auf "Baa1"4 (Ausblick stabil)
                                                                                     festgesetzt.
                                                                                     [Das [erwartete] Rating der Schuldverschreibungen ist [●]5
                                                                                     durch [●]6.]
                                                                                     [Entfällt. Die Schuldverschreibungen sind nicht geratet.]
                                                                                                                                                                 "

10. Risk Factors – Risks associated with the reform of interest rate benchmarks

On page 61 of the Base Prospectus, in the section "Risks associated with the reform of interest rate benchmarks",
the fourth paragraph (starting with "Amounts payable under…") shall be replaced by the following:
        "Amounts payable under floating rate Notes issued under the Programme are calculated by reference to (i)
        EURIBOR which is provided by the European Money Markets Institute ("EMMI") or (ii) the London
        Interbank Offered Rate ("LIBOR") which is provided by the ICE Benchmark Administration Limited
        ("IBA"). As at the date of this Base Prospectus, EMMI does not appear on the register of administrators and
        benchmarks established and maintained by the European Securities and Markets Authority ("ESMA")
        pursuant to Article 36 of the Benchmarks Regulation while IBA has been included therein as at 30 April 2018.
        As far as the Issuer is aware, the transitional provisions in Article 51 of the Benchmark Regulation apply,
        such that EMMI is not currently required to obtain authorisation or registration (or, if located outside the
        European Union, recognition, endorsement or equivalence)."
11. Description of Covestro AG and the Covestro Group – Shareholder Structure

On pages 124 and 125 of the Base Prospectus, in the section "Shareholder Structure" the content shall be replaced
by the following:
        "Shareholder Structure
        Covestro AG's share capital as of the date of this Base Prospectus amounts to EUR 202,500,000 divided into
        202,500,000 ordinary registered shares with no par value (Stückaktien). The share capital of Covestro AG is
        fully paid up.
        On October 24, 2017, the Issuer announced the launch of a share buyback program in a maximum notional
        amount of EUR 1.5 billion or up to 10% of the outstanding capital stock of Covestro AG, depending on which
        value is reached first. The buyback of a first tranche of 4,507,752 shares was concluded in February 2018.
        The buyback of a second tranche of 5,920,837 shares was concluded in July 2018. On August 10, 2018, the
        Issuer announced that the buyback of a third tranche will be carried out between August 13, 2018 and
        February 8, 2019.
        On the basis of the notifications received by Covestro AG as of the date of this Base Prospectus in accordance
        with the German Securities Trading Act (Wertpapierhandelsgesetz - WpHG) and pursuant to information
        provided by the respective shareholders, the following shareholders directly or indirectly hold more than 3

4
     Das im Basis-Prospekt enthaltene oder darauf Bezug genommene Rating wurde von Moody's begeben, die in der Europäischen Union niedergelassen und
     gemäß der Verordnung (EG) Nr. 1060/2009 des Europäischen Parlaments und des Rates vom 16. September 2009 über Ratingagenturen in die Liste der
     registrierten  Ratingagenturen,      die    auf      der    Internetseite     der     Europäischen Wertpapieraufsichtsbehörde (ESMA)       unter
     https://www.esma.europa.eu/supervision/credit-rating-agencies/risk eingetragen wurde.
     Moody's definiert "Baa2" wie folgt: Mit Baa bewertete Verbindlichkeiten sind Verbindlichkeiten mittlerer Klasse, unterliegen moderaten Kreditrisiken und
     können als solche gewisse spekulative Charakteristiken aufweisen. Moody's erweitert ihre generischen Ratingklassen von Aa bis Caa um die numerischen
     Modifkatoren 1, 2 und 3. Der Modifikator 1 zeigt an, das eine Verbindlichkeit am obeneren Ende ihrer generischen Ratingklasse einzuordnen ist, der Modifkator
     2 zeigt eine Einordnng im Mittelfeld der Ratingklasse und der Modifikator 3 zeigt an, dass eine Verbindlichkeit am unteren Ende ihrer generischen Ratingklasse
     einzuordnen ist.
     Anleger sollten sich bewusst sein, dass eine Ratingeinstufung keine Empfehlung zum Kauf, Verkauf oder zum Halten von Wertpapieren darstellt und sie
     jederzeit revidiert oder zurückgenommen werden kann.
5
     [Kurze Erklärung zur Bedeutung des Ratings einfügen.]
6
     [Angaben, ob die Ratingagentur in der Europäischen Gemeinschaft niedergelassen und ob sie nach Maßgabe der CRA-Verordnung eingetragen ist.]

                                                                                 8
per cent. of Covestro AG's ordinary shares. The percentage values shown in the table below are based on the
       amount of voting rights last notified to Covestro AG with regard to the stated reference date by the respective
       shareholder pursuant to Sections 33 et seqq. WpHG (without taking into account voting rights attached to
       financial instruments) in relation to Covestro AG's share capital as of the date of this Base Prospectus. It
       should be noted that the number of voting rights last notified could have changed since such notifications
       were submitted to Covestro AG without requiring the relevant shareholder to submit a corresponding voting
       rights notification if no notifiable thresholds have been reached or crossed:
                                                                                              Actual (direct             or     indirect)       ownership         of
                                                                                              Covestro AG
        Shareholder                                                                           Share of voting rights

        Bayer AG                                                                              13,791,540 voting rights (6.81%)
        BlackRock Inc.                                                                        10,455,558 voting rights (5.16%)
        Covestro AG (treasury shares) *                                                       11,708,763 voting rights (5.78%)
        Total                                                                                 35,955,861 voting rights (17.75%)
       * The voting rights of treasury shares are suspended.

                                                                                                                                                                     "
12. "Description of Covestro AG and the Covestro Group – Ratings

On page 125 of the Base Prospectus, in the section "Ratings" the content shall be replaced by the following:
       "Ratings
       Moody's Investors Service Limited ("Moody's") has assigned a "Baa1"7 rating (outlook stable) to Covestro
       AG.
       Notes to be issued under the Programme may be rated or unrated. Where an issue of Notes is rated, a security
       rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn by the rating
       agency at any time. Any negative change in the credit rating of Covestro AG could adversely affect the trading
       price of the Notes. Investors should consider each rating individually and obtain additional and more detailed
       understanding of the significance of the respective credit rating information provided by the respective rating
       agency.
       The Credit rating included or referred to in this Base Prospectus has been issued by Moody's, which is
       established in the European Union and registered under Regulation (EC) No 1060/2009 of the European
       Parliament and of the Council of September 16, 2009 on credit rating agencies and included in the list of
       registered credit rating agencies published on the website of the European Securities and Markets Authority
       at https://www.esma.europa.eu/supervision/credit-rating-agencies/risk."

7
    Moody's defines "Baa2" as follows: "Obligations rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain
    speculative characteristics. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier 1 indicates
    that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a ranking in
    the lower end of that generic rating category".
    Holders should be aware that a credit rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn by the rating agency at
    any time.
                                                                                  9
13. Description of Covestro AG and the Covestro Group – Selected Consolidated Financial Information

On pages 128 and 129 of the Base Prospectus, in the section "Selected Consolidated Financial Information" the
content shall be replaced by the following content:

     "Selected Consolidated Financial Information
     The following selected historical financial information for the Group is based on the audited consolidated
     financial statements of Covestro AG as of and for the financial year ended December 31, 2017 and on the
     unaudited consolidated interim financial information of Covestro AG as of and for the six-month period
     ended June 30, 2018.

     Consolidated Income Statement
                                                              For the six-month period
                                                                   ended June 30,                        Financial year ended December 31,
                                                               2018              2017(1)                     2017(1)            2016
     (amounts in EUR million, earnings per
     share in EUR)                                                     (unaudited)                                       (audited)
     Sales                                                            7,642                   7,084                  14,138                  11,904
     Gross profit                                                     2,814                   2,338                   4,830                   3,293
     EBIT(2)                                                          1,733                   1,375                   2,808                   1,331
     Financial result                                                   (55)                   (88)                   (150)                   (196)
     Income before income taxes                                       1,678                   1,287                   2,658                   1,135
     Income after income taxes                                        1,252                     955                   2,017                     806
     Basic earnings per share                                        6.31(3)                   4.70                  9.93(4)                   3.93
     Diluted earnings per share                                      6.31(3)                   4.70                  9.93(4)                   3.93

     (1) As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Costumers) accounting
     standard retroactively. Prior-year figures have not been adjusted.
     (2) EBIT: income after income taxes plus financial result and income tax expense.
     (3) Weighted average number of outstanding no-par voting shares of Covestro AG in issue: 197,746,827 (previous year: 202,500,000).
     (4) Weighted average number of outstanding no-par voting shares of Covestro AG in issue: 202,396,416 (previous year: 202,500,000).

     Consolidated Statement of Financial Position
                                                                     As of June 30,                              As of December 31,
                                                                         2018                                  2017(1)           2016
     (amounts in EUR million)                                         (unaudited)                                      (audited)
     Noncurrent assets                                                                        5,633                 5,606            5,966
     Current assets                                                                           5,269                 5,735            4,268
     Total assets                                                                            10,902                11,341           10,234
     Equity                                                                                   5,505                 5,365            4,216
     Equity attributable to Covestro AG
     stockholders                                                                             5,474                   5,335                   4,189
     Noncurrent liabilities                                                                   2,981                   2,885                   3,544
     Current liabilities                                                                      2,416                   3,091                   2,474
     Total equity and liabilities                                                            10,902                  11,341                  10,234

     (1) As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Costumers) accounting
     standard retroactively. Prior-year figures have not been adjusted.

                                                                                                                                                         "

                                                                         10
14. Description of Covestro AG and the Covestro Group – Recent Events

On pages 145 and 146 of the Base Prospectus, in the section "Recent Events" the content shall be replaced by the
following:
     "Recent Events
     In the Polycarbonates segment, Covestro Group signed an agreement on March 14, 2018, on the sale of assets
     and liabilities (disposal group) of the North American polycarbonates sheet business to Plaskolite LLC,
     Columbus (United States). The transaction closed successfully on August 1, 2018.
     The Covestro Board of Management has resolved on October 24, 2017 to buy back own shares worth a
     maximum notional amount of EUR 1.5 billion or up to 10% of the outstanding capital stock, depending on
     which value is reached first. This decision is based on the authorization of the Annual General Meeting of
     September 1, 2015. The buyback of a first tranche of shares was concluded in February 2018 and the buyback
     of a second tranche of shares in July 2018. The third tranche is being carried out in the period between August
     13, 2018 and February 8, 2019.
     On July 18, 2018, Covestro Group announced that it intends to significantly expand its global film production
     to meet the growing demand in all regions. In particular, capacity expansions are planned at Map Ta Phut,
     Thailand, Guangzhou, China, South Deerfield, USA, and Dormagen, Germany. The total investment of more
     than EUR 100 million also includes the expansion of the associated infrastructure and logistics.
     On July 30, 2018, Moody's raised the credit rating of the Issuer from Baa2 to Baa1 with stable outlook.
     On August 13, 2018, MSCI raised the Issuer's sustainability rating from BBB to A. The financial services
     provider's reason for the upgrade was Covestro Group's stepped-up focus on sustainable product solutions
     and technologies as well as continual improvement in safety standards."

15. Description of Covestro AG and the Covestro Group – Significant Changes

On page 146 of the Base Prospectus, in the section "Significant changes" the content shall be replaced by the
following:
     "Significant Changes
     There has been no significant change in the financial or trading position of Covestro AG since the last
     unaudited consolidated financial information dated June 30, 2018."

16. Description of Covestro AG and the Covestro Group – Consolidated Financial Information

On pages 146 et seqq. of the Base Prospectus, in the section "Consolidated Financial Information" the content up
to and excluding the sub-section "Core Volume Growth and Additional Performance Measures" shall be replaced
by the following content:

     "Consolidated Financial Information
     The following historical financial information for the Group is based on the audited consolidated financial
     statements of Covestro AG as of and for the financial year ended December 31, 2017 and on the unaudited
     consolidated interim financial information of Covestro AG as of and for the six-month period ended June 30,
     2018, which are incorporated by reference in this Base Prospectus and should be read together with them.
     The consolidated annual financial statements of the Group were audited by PwC and issued with an
     unqualified auditor's report.

                                                        11
Consolidated Income Statement
                                                            For the six-month period
                                                                                                         Financial year ended December 31,
                                                                 ended June 30,
                                                             2018              2017(1)                          2017(1)                   2016
(amounts in EUR million, earnings per
share in EUR)                                                        (unaudited)                                           (audited)

Sales                                                               7,642                     7,084                  14,138                    11,904
Cost of goods sold                                                (4,828)                  (4,746)                   (9,308)                  (8,611)
Gross profit                                                        2,814                     2,338                    4,830                    3,293
Selling expenses                                                     (708)                    (690)                  (1,352)                  (1,323)
Research and development expenses                                    (136)                    (132)                    (274)                     (259)
General administration expenses                                      (247)                    (227)                    (481)                     (451)
Other operating income                                                  23                      111                       145                      126
Other operating expenses                                              (13)                     (25)                       (60)                    (55)
EBIT(2)                                                             1,733                     1,375                    2,808                    1,331
Equity-method loss                                                    (10)                     (12)                       (23)                    (20)
Interest income(3)                                                      12                        11                       21                       19
Interest   expense(3)                                                 (41)                     (71)                    (120)                     (133)
Other financial result(3)                                             (16)                     (16)                       (28)                    (62)
Financial result                                                      (55)                     (88)                    (150)                     (196)
Income before income taxes                                          1,678                     1,287                    2,658                    1,135
Income taxes                                                         (426)                    (332)                    (641)                     (329)
Income after income taxes                                           1,252                       955                    2,017                       806
   of which attributable to                                               4                        3                         8                      11
   noncontrolling interest
   of which attributable to Covestro                                1,248                       952                    2,009                       795
   AG stockholders
   (net income)
Basic earnings per share                                           6.31(4)                     4.70                   9.93(5)                     3.93
Diluted earnings per share                                         6.31(4)                     4.70                   9.93(5)                     3.93

(1) As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Costumers) accounting
standard retroactively. Prior-year figures have not been adjusted.
(2) EBIT: income after income taxes plus financial result and income tax expenses.
(3) The figures for the financial year 2016 were adjusted retroactively to reflect the change in the accounting treatment of forward exchange contracts.
(4) Weighted average number of outstanding no-par voting shares of Covestro AG in issue: 197,746,827 (previous year: 202,500,000).
(5) Weighted average number of outstanding no-par voting shares of Covestro AG in issue: 202,394,416 (previous year: 202,500,000).

                                                                       12
Consolidated Statement of Financial Position
                                                                As of June 30,                              As of December 31,
                                                                    2018                                  2017(1)           2016
(amounts in EUR million)                                         (unaudited)                                      (audited)

Noncurrent assets                                                                        5,633                   5,606                    5,966
   Goodwill                                                                                254                     253                      264
   Other intangible assets                                                                  79                      81                       97
   Property, plant and equipment                                                         4,262                   4,296                    4,655
   Investments accounted for using                                                         212                     208                      230
   the equity method
   Other financial assets                                                                   30                      31                      31
   Other receivables(2)                                                                     40                      35                      41
   Deferred taxes                                                                          756                     702                     648
Current assets                                                                           5,269                   5,735                   4,268
   Inventories                                                                           2,091                   1,913                   1,721
   Trade accounts receivable                                                             2,185                   1,882                   1,674
   Other financial assets                                                                   88                     285                     171
   Other receivables(2)                                                                    317                     281                     316
   Claims for income tax refunds                                                            81                     138                     119
   Cash and cash equivalents                                                               475                   1,232                     267
   Assets held for sale                                                                     32                       4                       -
Total assets                                                                            10,902                  11,341                  10,234

Equity                                                                                   5,505                   5,365                    4,216
    Capital stock of Covestro AG                                                           193                     201                      203
    Capital reserves of Covestro AG                                                      4,105                   4,767                    4,908
    Other reserves                                                                       1,176                     367                    (922)
Equity attributable to Covestro AG                                                       5,474                   5,335                    4,189
stockholders
Equity attributable to noncontrolling                                                        31                      30                      27
interest

Noncurrent liabilities                                                                   2,981                   2,885                    3,544
   Provisions for pensions and other                                                     1,305                   1,187                    1,209
   post-employment benefits
   Other provisions                                                                        227                     229                      319
   Financial liabilities                                                                 1,182                   1,213                    1,796
   Income tax liabilities                                                                   93                      74                       36
   Other liabilities(2)                                                                     19                      21                       26
   Deferred taxes                                                                          155                     161                      158
Current liabilities                                                                      2,416                   3,091                    2,474
   Other provisions                                                                        370                     529                      569
   Financial liabilities                                                                    83                     583                      135
   Trade accounts payable                                                                1,473                   1,618                    1,536
   Income tax liabilities                                                                  219                     161                       37
   Other liabilities(2)                                                                    269                     200                      197
   Liabilities directly related to assets                                                    2                       -                        -
   held for sale
Total equity and liabilities                                                            10,902                  11,341                  10,234

(1) As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Costumers) accounting
standard retroactively. Prior-year figures have not been adjusted.
(2) As of June 30, 2018, contains the contract assets, contract liabilities/refund liabilities from IFRS 15.

                                                                    13
Consolidated Statement of Cash Flows
For the six-month period ended June 30,                                                  2018                               2017(1)
(amounts in EUR million)                                                                               (unaudited)

Income after income taxes                                                                            1,252                                 955
Income taxes                                                                                           426                                 332
Financial result                                                                                        55                                   88
Income taxes paid                                                                                    (335)                                 (62)
Depreciation, amortization and impairment losses and
impairment loss reversals                                                                              315                                  319
Change in pension provisions                                                                             8                                   26
(Gains)/losses on retirements of noncurrent assets                                                       1                                 (45)
Decrease/(increase) in inventories                                                                   (197)                                (200)
Decrease/(increase) in trade accounts receivable                                                     (299)                                (382)
(Decrease)/increase in trade accounts payable                                                        (129)                                (128)
Changes in other working capital, other noncash items                                                (128)                                (207)
Cash flows from operating activities                                                                   969                                  696
Cash outflows for additions to property, plant, equipment and
intangible assets                                                                                    (241)                                (166)
Cash inflows from sales of property, plant, equipment and
other assets                                                                                              -                                  12
Cash inflows from divestitures                                                                            -                                  47
Cash outflows for noncurrent financial assets                                                           (8)                                (17)
Cash inflows from noncurrent financial assets                                                             1                                   1
Cash outflows for acquisitions less acquired cash                                                         -                                 (4)
Interest and dividends received                                                                         12                                   18
Cash inflows from/(outflows for) other current financial
assets                                                                                                 201                                (268)
Cash flows from investing activities                                                                  (35)                                (377)
Reacquisition of treasury shares                                                                     (670)                                    -
Dividend payments and withholding tax on dividends                                                   (440)                                (274)
Issuances of debt                                                                                       40                                  156
Retirements of debt                                                                                  (589)                                 (99)
Interest paid                                                                                         (33)                                 (63)
Cash flows from financing activities                                                               (1,692)                                (280)
Change in cash and cash equivalents due to business
activities                                                                                           (758)                                   39
Cash and cash equivalents at beginning of period                                                     1,232                                  267
Change in cash and cash equivalents due to exchange rate
movements                                                                                                1                                   (6)
Cash and cash equivalents at end of period                                                             475                                  300

(1)   As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Costumers) accounting
      standard retroactively. Prior-year figures have not been adjusted.

                                                                    14
Consolidated Statement of Cash Flows
    Financial year ended December 31,                                                         2017(1)                               2016
    (amounts in EUR million)                                                                                   (audited)

    Income after income taxes                                                                              2,017                                   806
    Income taxes                                                                                             641                                   329
    Financial result                                                                                         150                                   196
    Income taxes paid                                                                                      (510)                                 (418)
    Depreciation, amortization, impairment losses and
    impairment loss reversals                                                                                627                                  683
    Change in pension provisions                                                                              17                                    8
    (Gains)/losses on retirements of noncurrent assets                                                      (45)                                    1
    Decrease/(increase) in inventories                                                                     (306)                                   73
    Decrease/(increase) in trade accounts receivable                                                       (325)                                (171)
    (Decrease)/increase in trade accounts payable                                                            156                                  123
    Changes in other working capital, other noncash items                                                   (61)                                  156
    Cash flows from operating activities                                                                   2,361                                1,786
    Cash outflows for additions to property, plant, equipment and
    intangible assets                                                                                       (518)                                (419)
    Cash inflows from sales of property, plant, equipment and
    other assets                                                                                               16                                    6
    Cash inflows from divestitures                                                                             47                                    -
    Cash outflows for noncurrent financial assets                                                            (30)                                 (19)
    Cash inflows from noncurrent financial assets                                                               1                                    4
    Cash outflows for acquisitions less acquired cash                                                         (4)                                    -
    Interest and dividends received(2)                                                                         29                                   18
    Cash inflows from/(outflows for) other current financial                                                (288)
    assets(2)                                                                                                                                   (548)
    Cash flows from investing activities(2)                                                                 (747)                               (958)
    Reacquisition of treasury shares                                                                        (143)                                   -
    Dividend payments and withholding tax on dividends                                                      (274)                               (143)
    Issuances of debt                                                                                         244                               1,793
    Retirements of debt                                                                                     (330)                             (2,727)
    Interest paid(2)                                                                                        (131)                               (129)
    Cash flows from financing activities(2)                                                                 (634)                             (1,206)
    Change in cash and cash equivalents due to business
    activities                                                                                                980                                (378)
    Cash and cash equivalents at beginning of year                                                            267                                  642
    Change in cash and cash equivalents due to exchange rate
    movements                                                                                               (15)                                     3
    Cash and cash equivalents at end of year                                                               1,232                                   267
    (1) As of January 1, 2018, Covestro applied the new IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Costumers) accounting
    standard retroactively. Prior-year figures have not been adjusted.
    (2) The figures for financial year 2016 were adjusted retroactively to reflect the change in the accounting treatment of forward exchange contracts.
                                                                                                                                                           "

17. General Information - Documents Available for Inspection

    On page 186 of the Base Prospectus, in the section "Documents Available for Inspection" the seventh
    paragraph shall be replaced by the following:
    "(vii)                the documents incorporated herein by reference."

                                                                         15
18. Documents incorporated by reference

On page 188 of the Base Prospectus, the section "Document incorporated by reference" shall be replaced by the
following:
                           "DOCUMENTS INCORPORATED BY REFERENCE
     This Base Prospectus should be read and construed in conjunction with the following documents which have
     been previously published or are published simultaneously with this Base Prospectus and which have been
     filed with the CSSF and shall be deemed to be incorporated by reference in, and form part of, this Base
     Prospectus and which shall be deemed to modify or supersede the contents of this Base Prospectus to the
     extent that a statement contained in this document is inconsistent with such contents. Any statement so
     modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
     Base Prospectus with respect to any Notes issued thereafter:
     Incorporation by Reference
     The following information is incorporated by reference into this Base Prospectus:

      (1)    Audited Consolidated Financial Statements (prepared in accordance with IFRS as adopted in the
             European Union) of the Covestro Group as of and for the financial year ended December 31, 2017

              Consolidated Income Statement                                                  page 168
              Consolidated Statement of Comprehensive Income                                 page 169
              Consolidated Statement of Financial Position                                   page 170
              Consolidated Statement of Cash Flows                                           page 171
              Consolidated Statements of Changes in Equity                                   pages 172 - 173
              Notes to the Consolidated Financial Statements                                 pages 174 – 242
              Independent Auditor's Report                                                   pages 244 - 250

      (2)    Audited Consolidated Financial Statements (prepared in accordance with IFRS as adopted in the
             European Union) of the Covestro Group as of and for the financial year ended December 31, 2016

              Consolidated Income Statement                                                  page 132
              Consolidated Statement of Comprehensive Income                                 page 133
              Consolidated Statement of Financial Position                                   page 134
              Consolidated Statement of Cash Flows                                           page 135
              Consolidated Statements of Changes in Equity                                   pages 136 – 137
              Notes to the Consolidated Financial Statements                                 pages 138 – 198
              Independent Auditor's Report                                                   pages 200 – 206

      (3)    Unaudited consolidated interim financial statements (prepared in accordance with International
             Accounting Standard 34: Interim Financial Reporting) of Covestro AG as of and for the half-year
             period ended June 30, 2018

               Consolidated Income Statement                                                  page 21
               Consolidated Statement of Comprehensive Income                                 page 22
               Consolidated Statement of Financial Position                                   page 23
               Consolidated Statement of Cash Flows                                           page 24
               Consolidated Statement of Changes in Equity                                    page 25
               Notes to the Consolidated Interim Financial Statements                         pages 26 – 45

                                                       16
(4)     Unaudited consolidated interim financial information of Covestro AG as of and for the three-month
         period ended March 31, 2018

           Consolidated Income Statement                                                     page 3
           Consolidated Statement of Comprehensive Income                                    page 4
           Consolidated Statement of Financial Position                                      page 5
           Consolidated Statement of Cash Flows                                              page 6

All of these pages shall be deemed to be incorporated in by reference, and to form part of, this Base
Prospectus.
The non-incorporated parts of the documents, i.e. the pages not listed in the table above, are either not relevant
for the investor or covered elsewhere in the Base Prospectus pursuant to Art 28.4 of the Commission
Regulation (EC) 809/2004. Copies of the documents which are incorporated herein by reference will be
available free of charge from the specified office of the Principal Paying Agent set out at the end of this Base
Prospectus.
This Base Prospectus and the documents incorporated by reference are also available for viewing at
www.bourse.lu."

                                                     17
Registered Office of the Issuer
       Covestro AG
  Kaiser-Wilhelm-Allee 60
     51373 Leverkusen
         Germany

              18
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