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Bayer Aktiengesellschaft (BAYRY) Discusses Roundup Class Settlement Agreement and Implications for U.S. Glyphosate Litigation Transcript

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Bayer announced a landmark class settlement agreement with U.S. plaintiff lawyers on February 17, 2026, resolving ongoing glyphosate litigation tied to its Roundup herbicide. The deal aims to cap future liability and financial exposure. CEO Bill Anderson called the agreement a strategic milestone, aligning with Bayer’s 2024 pledge to contain litigation risks. The settlement follows years of legal battles over cancer claims linked to glyphosate, Bayer’s most contentious U.S. legal challenge. CFO Wolfgang Nickl outlined financial terms, including a multi-billion-dollar allocation to cover claims, though exact figures remain undisclosed pending court approval. The deal excludes pending appeals but addresses future cases. General Counsel Bill Dodero detailed the settlement’s structure, emphasizing a claims administration process to streamline payouts and avoid protracted trials. Plaintiffs’ lawyers negotiated terms to expedite resolutions for affected users. Analysts on the call probed long-term implications, including regulatory scrutiny and shareholder impact. Bayer framed the move as critical to stabilizing operations, though legal risks persist if courts reject the proposed class framework.
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Glyphosate Litigation February 17, 2026 12:30 PM EST Company Participants William Anderson - Chairman of the Management Board & CEOWolfgang Nickl - CFO & Member of Management BoardBill Dodero - General Counsel and Senior VP of Law Patents & ComplianceJost Reinhard - Senior VP & Head of Investor Relations Conference Call Participants Richard Vosser - JPMorgan Chase & Co, Research DivisionThibault Boutherin - Morgan Stanley, Research DivisionDietrich KnauthLaurent Favre - BNP Paribas, Research DivisionAlek Ebbeling - UBS Investment Bank, Research DivisionSonia WindCharles Pitman - Barclays Bank PLC, Research DivisionSebastian Bray - Joh. Berenberg, Gossler & Co. KG, Research DivisionRajesh Kumar - HSBC Global Investment Research Presentation Unknown Executive Thank you for taking the time to join our Investor and Media call on short notice. One hour ago, we announced a class settlement agreement with plaintiff lawyers in the United States glyphosate litigation. You can find the complete set of materials regarding this agreement on our website. For today's call, I'm joined by Bill Anderson, CEO of Bayer; Wolfgang Nickl, CFO of Bayer and Bill Dodero, the company's Head of Litigation and North America Legal. Jost Reinhard, our Head of Investor Relations, is also here with me today to moderate the Q&A part. But before that, Bill will start the call by highlighting what today means and how it fits within our broader strategy. Wolfgang will address the financials, and Bill Dodero will go through specifics of the proposed class settlement. Now before we begin, please note the cautionary language in our safe harbor statement. And with that, over to you, Bill. William AndersonChairman of the Management Board & CEO Yes. Thanks for joining, everyone. Today marks an important milestone for the company. Two years ago, we committed to significantly containing

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