DGAP-Stimmrechtsanteile: Bayer

DGAP-PVR: Bayer Aktiengesellschaft: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

Bayer Aktiengesellschaft

20.05.2016 12:22

Dissemination of a Voting Rights Announcement, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------------

Notification of Major Holdings

1. Details of issuer

Bayer Aktiengesellschaft Kaiser-Wilhelm-Allee 1 51373 Leverkusen Germany

2. Reason for notification

X Acquisition/disposal of shares with voting rights Acquisition/disposal of instruments Change of breakdown of voting rights Other reason:

3. Details of person subject to the notification obligation

Name: City and country of registered office: Sun Life Financial Inc. Toronto, Ontario Canada

4. Names of shareholder(s) holding directly 3% or more voting rights, if different from 3.



5. Date on which threshold was crossed or reached

12 May 2016

6. Total positions

% of voting % of voting rights total of total number rights attached through instruments both in % of voting to shares (total (total of 7.b.1 + (7.a. + rights of of 7.a.) 7.b.2) 7.b.) issuer Result- 3.18 % 0.00 % 3.18 % 826947808 ing situat- ion Previo- 2.98 % n/a % n/a % / us notifi- cation

7. Notified details of the resulting situation a. Voting rights attached to shares (Sec.s 21, 22 WpHG)

ISIN absolute in % direct indirect direct indirect (Sec. 21 WpHG) (Sec. 22 WpHG) (Sec. 21 WpHG) (Sec. 22 WpHG) DE000BAY0017 26259813 % 3.18 % Total 26259813 3.18 %

b.1. Instruments according to Sec. 25 para. 1 No. 1 WpHG

Type of Expiration or Exercise or Voting Voting instrument maturity date conversion rights rights in period absolute % % Total %

b.2. Instruments according to Sec. 25 para. 1 No. 2 WpHG

Type of Expiration Exercise or Cash or Voting Voting instrume- or maturity conversion physical rights rights nt date period settlement absolute in % % Total %

8. Information in relation to the person subject to the notification obligation

Person subject to the notification obligation is not controlled and does itself not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer (1.). X Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity:

Name % of voting % of voting rights Total of rights (if at through instruments both (if at least held 3% (if at least held 5% least held or more) or more) 5% or more) Sun Life Financial % % % Inc. Sun Life Assurance % % % Company of Canada Sun Life Financial % % % of Canada UK Limited Sun Life of Canada % % % UK Holdings Limited Sun Life of Canada % % % Assurance (UK) Limited Sun Life Assurance % % % Company of Canada (U.K.) Limited Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) MFS Institutional % % % Advisors, Inc. Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) MFS Heritage Trust % % % Company Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) MFS Institutional % % % Advisors, Inc. 3060097 Nova Scotia % % % Company MFS Investment % % % Management Canada Limited Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) MFS International % % % Ltd. MFS International % % % Holdings Pty Ltd MFS Investment % % % Management Company (LUX) S.a.r.l. Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) MFS International % % % Ltd. MFS International % % % Holdings Pty Ltd MFS Investment % % % Management K.K. Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) MFS International % % % Ltd. MFS International % % % Holdings Pty Ltd MFS International % % % (U.K.) Limited Sun Life Financial % % % Inc. Sun Life Global % % % Investments Inc. Sun Life Assurance % % % Company of Canada - U.S. Operations Holdings, Inc. Sun Life Financial % % % (U.S.) Holdings, Inc. Sun Life Financial % % % (U.S.) Investments LLC Sun Life of Canada % % % (U.S.) Financial Services Holdings, Inc. Massachusetts % % % Financial Services Company (MFS) MFS International % % % Ltd. MFS International % % % Holdings Pty Ltd MFS International % % % Singapore Pte. Ltd.

9. In case of proxy voting according to Sec. 22 para. 3 WpHG

Date of general meeting: Holding position after general meeting: % (equals voting rights)

20.05.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Bayer Aktiengesellschaft Kaiser-Wilhelm-Allee 1 51373 Leverkusen Germany Internet: www.bayer.com End of Announcement DGAP News-Service ---------------------------------------------------------------------------