First quarter of 2018 Bayer: Operational business held back by currency effects / Major progress with Monsanto acquisition Group sales €9.1 billion (Fx & portfolio adj. +2.0%) EBITDA before special items down year on year at €2.9 billion due to currency effects (Fx adj. level with prior-year quarter) Sales increase at Pharmaceuticals (Fx & portfolio adj.) Consumer Health down year on year, as expected Sales of Crop Science match strong prior-year quarter (Fx & portfolio adj.) Animal Health raises sales (Fx & portfolio adj.) and earnings Net income €2.0 billion (−6.2%) Core earnings per share €2.28 (−1.3%) European Commission and additional regulators conditionally approve of Monsanto acquisition Currency-adjusted Group outlook for 2018 confirmed Interim Group Management Report as of March 31, 2018 Economic Position of the Bayer Group Sales of the Bayer Group increased by 2.0% (Fx & portfolio adj.) to €9.1 billion in the first quarter of 2018. Group EBITDA before special items declined by 5.2% to €2.9 billion. Negative currency effects of around €160 million had a particularly significant impact. Pharmaceuticals registered an increase in sales that was driven primarily by the continued strong development of our key growth products overall. EBITDA before special items declined, however. Business at Consumer Health receded as expected, particularly in Asia / Pacific. Sales of Crop Science matched the strong level of the prior-year quarter, while EBITDA before special items declined. Animal Health increased sales and earnings. Key Events The European Commission conditionally approved Bayer’s planned acquisition of Monsanto on March 21, 2018. The conditions cover in particular the divestment of certain Bayer businesses. BASF is the intended purchaser of these assets. Bayer expects the transaction to close in the second quarter of 2018. In April 2018, the investment company Temasek, Singapore, subscribed to 31 million new shares of Bayer, corresponding to around 3.6% of the increased capital stock, for total gross proceeds of €3 billion. Changes to the Corporate Structure In connection with the planned acquisition of Monsanto and in preparation for the future combined business, the structure of the Crop Science segment was adjusted as of January 1, 2018, in line with the internal financial reporting system. In the new structure, all the strategic business entities are organizationally located directly below the Crop Science segment.