Bayer acquires strawberry assets of UK-based NIAB; acquisition expected to close by Jan. 1, 2024

Bayer today announced the expansion of its leading Fruits and Vegetables business to strawberries. With the acquisition of the strawberry assets of UK -based NIAB , Bayer will expand its focus on professional protected culture growers to meet the growing consumer and retail demand for year-round, high-quality strawberries and will also have varieties available for open field conditions. This agreement allows the company's Crop Science Division to provide a broader range of solutions for growers in the expanding protected strawberry market. The strawberry varieties are complemented by Bayer's biological and chemical crop protection products.

"Strawberries are the fastest growing fruit crop, with year-round demand exceeding supply. In fact, strawberries are the category leaders in the produce aisle, accounting for more than 23 percent of fresh fruit sales," said Inci Dannenberg , Head of Bayer's Vegetables business. "With Bayer entering the strawberry market, we will offer growers premium genetics combined with innovative crop protection products and digital solutions. The addition of strawberries to Bayer's portfolio is a natural progression that many of our customers are making as well."

NIAB's Strawberry Breeding Programme has been operating for more than 40 years from its roots at East Malling Research Station which is located in Kent County, UK , and which has long been associated with excellence in horticulture innovation.

" NIAB at East Malling has built a strong foundation in strawberries, supported by more than a century of world-class horticulture research at our Kent site, and we're proud that it will continue with Bayer," said Mario Caccamo , CEO of NIAB . "As well as bringing accelerated innovation to UK growers, Bayer will also make these great tasting strawberries available to more growers and consumers around the world."

By moving to protected cropping, strawberry growers have more control over their environment, crop management, pests and disease, and in tuwill see clear benefits in fruit quality, harvest security and consistency. Additionally, plants grown under protection use less water than open field crops and have the potential for increased retail shelf life as they can be grown closer to the consumer.

With its advanced breeding technologies, Bayer will continue to deliver the advancements consumers, retailers and growers need. "We have built a strong foundation in precision breeding capabilities and look forward to bringing these approaches into strawberries," said JD Rossouw, Head of Vegetables Research & Development at Bayer's Crop Science Division. "Using these techniques will enable us to continue to advance on the foundation set by NIAB and deliver superior strawberries to our growers and the value chain."

With more than 20 different crops and thousands of vegetable seed selections, Bayer's Vegetable Seeds business supports a diverse range of growers with seed varieties tailored to the tastes and preferences of consumers around the globe. Key crops are Tomato, Cucumber, Beans, Broccoli, Carrots, Cauliflower, Eggplant, Lettuce, Melon, Onion, Pepper, Spinach, Sweet coand Watermelon. Sales of the business unit reached 717 million euros in 2022.

The acquisition is expected to close by January 1, 2024 .

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2022, the Group employed around 101,000 people and had sales of 50.7 billion euros . R&D expenses before special items amounted to 6.2 billion euros . For more information, go towww.bayer.com.

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Forward-Looking Statements

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website atwww.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conformthem to future events or developments.

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