BRIEF-Bayer Announces Agreement With Plaintiffs’ Counsel On Class Plan

Bayer AG:

* BAYER ANNOUNCES AGREEMENT WITH PLAINTIFFS' COUNSEL ON CLASS PLAN

* MOTION FOR PRELIMINARY APPROVAL IS BEING FILED FOR PROGRAM DESIGNED TO MANAGE AND RESOLVE FUTURE ROUNDUP LITIGATION

* AS PART OF AGREEMENT, COMPANY WOULD BE COMMITTED TO PAY UP TO $2 BILLION, PROVISION FOR WHICH WAS MADE AND DISCLOSED LAST YEAR

* FILING OF A MOTION FOR PRELIMINARY APPROVAL TODAY BEGINS REVIEW PROCESS BY COURT

* IN STRUCTURING PLAN, PARTIES HAVE WORKED DILIGENTLY TO ADDRESS QUESTIONS PREVIOUSLY RAISED BY COURT

* ELEMENTS OF REVISED PLAN INCLUDE ESTABLISHMENT OF A FUND TO COMPENSATE QUALIFIED CLAIMANTS DURING AN INITIAL FOUR YEAR PROGRAM

* ADDITIONALLY THE ESTABLISHMENT OF AN ADVISORY SCIENCE PANEL WHOSE FINDINGS WOULD NOT BE PRECLUSIVE BUT CAN BE USED AS EVIDENCE IN POTENTIAL FUTURE LITIGATION INVOLVING CLASS MEMBERS

* COMPANY ALSO WILL SEEK PERMISSION FROM ENVIRONMENTAL PROTECTION AGENCY (EPA) TO ADD A REFERENCE LINK ON LABELS FOR ITS GLYPHOSATE-BASED PRODUCTS

* QUALIFYING CLASS MEMBERS OVER NEXT FOUR YEARS WILL BE ELIGIBLE FOR LEVELS OF COMPENSATORY AWARDS BASED ON GUIDELINES SET FORTH IN AGREEMENT Source text for Eikon: Further company coverage:

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