EANS-Adhoc: adidas AG / adidas AG launches Convertible Bond Offering of up to EUR 500 million

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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14.03.2012

NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF
AMERICA (OR TO US PERSONS), AUSTRALIA, CANADA OR JAPAN, OR IN ANY
OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW

Herzogenaurach, March 14, 2012 - With approval of the Supervisory
Board the Executive Board of adidas AG resolved today to launch the
offering of a convertible bond of up to EUR 500 million maturing on
June 14, 2019. The bonds are convertible into approximately 6.3
million new or existing adidas AG shares.

Proceeds from the offering will allow the Group to further optimise
its debt structure, pre-finance maturing debt as well as for general
financing and corporate purposes.

The bonds will be offered with an annual coupon between 0.0% and 0.5%
and a conversion premium between 37% and 42% solely to institutional
investors outside the US. The coupon and the conversion premium will
be determined via an accelerated bookbuilding process to take place
on March 14, 2012. The bonds will be issued by adidas AG and are
intended to be listed on the Open Market segment of the Frankfurt
Stock Exchange ("Freiverkehr") by the end of April 2012. The Bonds
are not callable by the issuer or putable by the bondholders until
June 2017.

UniCredit Bank AG is acting as Sole Global Coordinator, and, together
with Citigroup Global Markets Limited, London, and Deutsche Bank AG,
as Joint Bookrunner.

This notice is not an offer for sale or a solicitation of an offer to
purchase any securities of adidas AG.

This notice is not an offer to purchase securities in the United
States of America. Securities may only be sold or offered for sale in
the United States of America following prior registration in
accordance with the regulations of the U.S. Securities Act of 1933 in
its currently valid version, or without prior registration only on
the basis of an exemption. No such registration is intended.

The information contained in this notice is intended neither for
publication nor for circulation in or within the United States of
America, and is not an offer to purchase securities in the United
States of America.

Further inquiry note:
Christian Stoehr
Investor Relations Manager
Tel.: +49 (0)9132 84 4989
E-Mail: Christian.Stoehr@adidas-group.com

end of announcement euro adhoc
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issuer: adidas AG
Adi-Dassler-Str. 1
D-91074 Herzogenaurach
phone: +49 (0)9132 84-0
FAX: +49 (0)9132 84-2241
mail: investor.relations@adidas-Group.com
WWW: http://www.adidas-Group.de
sector: Recreational & Sports goods
ISIN: DE000A1EWWW0
indexes: DAX, CDAX, HDAX, Prime All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English