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                                  adidas AG
                                  adidas AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

                                  20.09.2022 / 15:00 CET/CEST
                                  Dissemination of a Voting Rights Announcement transmitted by EQS - 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
                                  Name: adidas AG
                                  Street: Adi-Dassler-Straße 1
                                  Postal code: 91074
                                  City: Herzogenaurach
                                  Germany
                                  Legal Entity Identifier (LEI): 549300JSX0Z4CW0V5023

                                  2. Reason for notification
                                    Acquisition/disposal of shares with voting rights
                                    Acquisition/disposal of instruments
                                    Change of breakdown of voting rights
                                  X Other reason:
                                  Voluntary group notification, threshold crossed only at subsidiary level

                                  3. Details of person subject to the notification obligation
                                  Legal entity: Elian Corporate Trustee (Cayman) Limited
                                  City of registered office, country: Camana Bay, Grand Cayman, Cayman Islands

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

                                  5. Date on which threshold was crossed or reached:
                                  16 Sep 2022

                                  6. Total positions
                                    % of voting rights attached to shares
                                  (total of 7.a.)
                                  % of voting rights through instruments
                                  (total of 7.b.1 + 7.b.2)
                                  Total of both in %
                                  (7.a. + 7.b.)
                                  Total number of voting rights pursuant to Sec. 41 WpHG
                                  New 3.13 % 3.33 % 6.46 % 192100000
                                  Previous notification 3.01 % 3.84 % 6.85 % /

                                  7. Details on total positions
                                  a. Voting rights attached to shares (Sec. 33, 34 WpHG)
                                  ISIN Absolute In %
                                    Direct
                                  (Sec. 33 WpHG)
                                  Indirect
                                  (Sec. 34 WpHG)
                                  Direct
                                  (Sec. 33 WpHG)
                                  Indirect
                                  (Sec. 34 WpHG)
                                  DE000A1EWWW0 0 6019247 0.00 % 3.13 %
                                  Total 6019247 3.13 %

                                  b.1. Instruments according to Sec. 38 (1) no. 1 WpHG
                                  Type of instrument Expiration or maturity date Exercise or conversion period Voting rights absolute Voting rights in %
                                  0 0.00 %
                                      Total 0 0.00 %

                                  b.2. Instruments according to Sec. 38 (1) no. 2 WpHG
                                  Type of instrument Expiration or maturity date Exercise or conversion period Cash or physical settlement Voting rights absolute Voting rights in %
                                  OTC European Put date range 19.09.22 > 29.09.23 Both 3632636 1.89 %
                                  OTC European Call date range 21.11.22 > 29.09.23 Both 2758770 1.44 %
                                        Total 6391406 3.33 %

                                  8. Information in relation to the person subject to the notification obligation
                                    Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) 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 rights (if at least 3% or more) % of voting rights through instruments (if at least 5% or more) Total of both (if at least 5% or more)
                                  Elian Corporate Trustee (Cayman) Limited % % %
                                  NNS Ltd % % %
                                  NNS Holding (Cyprus) Limited 3.01 % % %
                                  NNS Investments (Cyprus) Limited % % %
                                  - % % %
                                  Elian Corporate Trustee (Cayman) Limited % % %
                                  NNS 3 S.à r.l. – SPF % % %

                                  9. In case of proxy voting according to Sec. 34 para. 3 WpHG
                                  (only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)

                                  Date of general meeting:
                                  Holding total positions after general meeting (6.) after annual general meeting:
                                  Proportion of voting rights Proportion of instruments Total of both
                                  % % %

                                  10. Other explanatory remarks:
                                  Please note in relation to the notifier that the registered office address of NNS Luxembourg S.a r.l. has changed from 35F, avenue John F. Kennedy, L-1855 Luxembourg to 7, avenue Gaston Diderich, L-1420 Luxembourg 

                                  Date
                                  19 Sep 2022



                                  20.09.2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
                                  Archive at www.eqs-news.com


                                  Language: English
                                  Company: adidas AG
                                  Adi-Dassler-Straße 1
                                  91074 Herzogenaurach
                                  Germany
                                  Internet: www.adidas-group.com

                                   
                                  End of News EQS News Service

                                  1445413  20.09.2022 CET/CEST

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                                  Elian Corporate Trustee (Cayman) Limited, Camana Bay, Grand Cayman, Cayman Islands

                                  adidas AG adidas AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution 20.09.2022 / 15:00 CET/CEST Dissemination of a Voting Rights Announcement transmitted by EQS - a service of EQS Group AG.

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                                  Elian Corporate Trustee (Cayman) Limited, Camana Bay, Grand Cayman, Cayman Islands

                                  adidas AG adidas AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution 20.09.2022 / 15:00 CET/CEST Dissemination of a Voting Rights Announcement transmitted by EQS - a service of EQS Group AG.