Bayer : Annual Financial Statements of Bayer CropScience AG 2023

Bayer CropScience Aktiengesellschaft

Monheim am Rhein

Financial statements for the period from

January 1 to December 31, 2023

This translation is provided for convenience only. The German version is the sole legally binding version.

Income Statement of

Bayer CropScience Aktiengesellschaft, Monheim am Rhein, for the Period from January 1, 2023 to December 31, 2023

	2022			2023
			€ thousand			€ thousand
Sales	672,728			575,918
Other operating income		1,382,628			4,303
of which from currency translation		25,738			1,803
Personnel expenses		(72,424)			(11,378)
Wages and salaries		(4)			(4)
Social expenses and expenses for pensions and other benefits		(72,420)			(11,374)
of which pension expenses		(72,420)			(11,374)
Write-downs on intangible assets and property, plant and equipment	(120,691)			(101,835)
Other operating expenses			(378,113)			(235,443)
of which from currency translation		(4,222)			(1,081)
Operating result	1,484,128			231,565
Income from investments in affiliated companies		32,181			10,028
of which from subsidiaries		30,432			9,997
Income from profit and loss transfer agreements with subsidiaries		0			141
Expenses from assumption of losses of subsidiaries		(345)			0
Write-downs of investments in affiliated companies		(1,058,257)			-591.504
Write-backs of investments in affiliated companies		0			755
Income (loss) from investments in affiliated companies	(1,026,421)			-580.580
Other interest and similar income			15,817			29,360
of which from subsidiaries		15,709			27,776
of which from discounting		108			1,576
Interest and similar expenses		(155,392)			(94,954)
of which to subsidiaries		(119,796)			(92,574)
of which for the unwinding of discounts		(32,668)			(317)
Net interest expense	(139,575)			(65,594)
Miscellaneous financial income		30			4
Miscellaneous financial expenses		(17,338)			(8,155)
of which to subsidiaries	(17,338)			(8,155)
Miscellaneous financial expenses			(17,308)			(8,151)
Financial result	(1,183,304)			(654,325)
Income taxes		(413,823)			(52,839)
Other taxes	(3)			(192)
Income after taxes	(113,002)			(475,791)
Income from loss transfer		113,002			475.791
Net income	0			0
Profit carried forward from previous year	1,758,854			0
Allocation to other retained earnings			1,758,854			0
Distributable profit		0			0

Statement of Financial Position of

Bayer CropScience Aktiengesellschaft, Monheim am Rhein,

as of December 31, 2023

	31.12.2022		31.12.2023
			€ thousand		€ thousand
ASSETS
Noncurrent assets
Intangible assets
Acquired concessions, industrial property rights, similar rights and assets, and
licenses thereunder		26,455		23,708
Advance payments		1,004		4,541
0	27,459		28,249
Property, plant and equipment
Land and buildings		88,364		86,639
Plant installations and machinery		380,805		367,590
Furniture, fixtures and other equipment		31,490		30,094
Construction in progress and advance payments	74,560		109,307
			575,219		593,630
Financial assets		12,107,038		11,696,892
Investments in subsidiaries		12,067,733		11,737,509
Loans to subsidiaries		37,382		0
Investments in affiliated companies		1,923		1,923
		12,107,038		11,739,432
Total assets	12,709,716		12,361,311
Current assets
Receivables and other assets
Trade accounts receivable		40,756		59,732
of which from subsidiaries		39,967		59,183
Receivables from subsidiaries		2,271,725		627,245
Other assets		23,984		61,909
Receivables and other assets	2,336,465		748,886
Cash and cash equivalents	3		3
Total current assets			2,336,468		748,889
Surplus from offsetting	479		983
TOTAL assets			15,046,663		13,111,183

Statement of Financial Position of

Bayer CropScience Aktiengesellschaft, Monheim am Rhein,

as of December 31, 2023

	31.12.2022		31.12.2023
		€ thousand		€ thousand
EQUITY AND LIABILITIES
Equity
Capital stock		1,000		1,000
Capital reserves	2,612,344		2,612,344
Retained earnings
Other retained earnings		5,646,776		5,646,776
Total equity		8,260,120		8,260,120
Provisions
Provisions for pensions		515,700		498,148
Tax provisions		294,253		58,948
Other provisions		155,272		154,764
Total provisions	965,225		711,860
Liabilities
Liabilities to banks		3		0
of which due in < 1 year		3		0
Trade accounts payable		324,723		82,959
of which to subsidiaries		324,599		82,957
of which due in < 1 year		324,723		82,959
Payables to subsidiaries		5,496,407		4,055,401
of which due in < 1 year		72,196		55,401
of which due in > 1 year		5,424,211		4,000,000
Other liabilities		92		803
of which from taxes		92		803
of which due in < 1 year	92		803
Total liabilities		5,821,225		4,139,163
Deferred income and accrued expense		93		40
TOTAL equity and liabilities		15,046,663		13,111,183
Stated in accordance with Section 253, Paragraph 6 of the German Commercial
Code (HGB)
Difference between the pension obligations recognized in the statement of financial
position based on the average interest rate for ten and seven years	25,587		5,339

Bayer CropScience Aktiengesellschaft is a wholly owned subsidiary of Bayer Aktiengesellschaft, Leverkusen, and as such consolidated in the latter's consolidated financial statements, and therefore exempt from preparing its own consolidated financial statements and consolidated management report. The exempting consolidated financial statements are prepared in accordance with IFRS as adopted by the European Union, so that no accounting, valuation and consolidation methods deviating from German law are applied in these financial statements.

Monheim am Rhein, February 20, 2024

Dr. Martin Schloemer

Dr. Jörg Thomaier

Bayer CropScience Aktiengesellschaft, HRB 46985, Amtsgericht Düsseldorf