Covestro China named a Country Certified Top Employer for the second consecutive year

Implementing "people-first" human resources practices

Brand new "people strategy" supporting business growth

First-class working environment safeguarding employee health and wellbeing

SHANGHAI,Dec. 2,2019 -- With its "people-first" human resources policy and practices,Covestro China has been officially recognized as a Top Employer 2020 in China by the Top Employers Institute for the second year in a row.

Covestro China is recognized as a Top Employer 2020 in China

"At Covestro,we have always viewed employees as our most valuable asset and the driving force that keeps the company moving forward. Being recognized as China's top employer again is a remarkable recognition of our achievements in talent development," said Holly Lei,President of Covestro China. "We will continue to invest in talent and create a diverse and inclusive atmosphere for a strengthened corporate culture that supports our people to develop."

Covestro China is recognized as a Top Employer 2020 in China

The Top EmployersInstitute is the global authority on recognizing excellence in people practices. Organizations certified as Top Employers dedicate themselves to providing the very best working environment for employees through progressive "people-first" HR practices. Its HR Best Practice Survey encompasses over 100 questions,covering 600 practices across 10 topics including talent strategy,talent acquisition,learning & development,leadership development,compensation & benefits,and culture.

Brand new people strategy

In 2019,Covestro developed a new people strategy to more pertinently support business development. With this strategy,Covestro outlined clear plans and measures for employee engagement,as well as employee skills and leadership development.

In terms of employee engagement,Covestro this year launched ENGAGE,a digitally-driven initiative that more flexibly conducts engagement surveys and data analysis. This enables managers and supervisors to continuously provide open access for feedback from employees.

Regarding skills and leadership development,Covestro offers targeted programs for different positions and levels to enhance employees' knowledge,skills,experience and competence. They include a production and technology trainee program,an innovation trainee program,a mentoring program,and a series of cutting-edge training programs such as design thinking and agile project management.

First-class working environment

Meanwhile,Covestro aims to create a first-class office environment that promotes employees' health and wellbeing. This July,Covestro's new Shanghai office in the rapidly-growing Qiantan area successfully passed evaluation and inspection by the International WELL Building Institute to become a WELL Certified™ Gold office. With this prestigious award,the Shanghai office has become a best practice for office space management and operation through details that reflect care and support for people.

"We firmly believe that talent is the foundation and future of the company," said Lesley Lin,Head of Human Resources,Greater China,Covestro. "This is why we are fully committed to creating a workplace that is conducive to employees' personal development,solidifying the corporate culture and empowering employees to reach their full potential and grow together with the company."

Nicole Jin,Country Manager China for the Top Employers Institute,said,"Top Employers Certification is based on a thorough evaluation of the conditions that a company creates for its employees. Covestro China meets the certification criteria. The research shows that Covestro has a clear talent strategy and provides various learning programs and leadership programs for their employees."

About Top Employers Institute:

Top Employers Institute is the global authority on recognising excellence in people practices. We help accelerate these practices to enrich the world of work. Through the Top Employers Institute certification programme,participating companies can be validated,certified and recognised as an employer of choice. Established more than 28 years ago,Top Employers Institute has certified over 1,500 organisations in 118 countries. These certified Top Employers positively impact the lives of over 6,000,000 employees globally.

About Covestro:

With 2018 sales of EUR 14.6 billion,Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive,construction,wood processing and furniture,and electrical and electronics industries. Other sectors include sports and leisure,cosmetics,health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,800 people (calculated as full-time equivalents) at the end of 2018.

This press release is available at www.covestro.cn. Please acknowledge the source of any pictures used.

Find more information at www.covestro.cn and www.top-employers.com.

Forward-looking statements

This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. 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 Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

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