K+s Ag · XETR:SDF
K+s — K+S Aktiengesellschaft — Investor Presentation (August 2026)
102 slides from K+s's investor presentation, August 2026
Slide 1: Company Presentation
Company Company Presentation Presentation Company Presentation Information for investors, analysts, and interested parties Information for investors, analysts, Information for investors, analysts, andand interested interested parties parties Publication July 2026 Publication Publication August Augus
Slide 2: Table of contents
Table of contents 449 K+S Group a 2| 9 Relevant megatrends 3| 9 Market situation: 4|9 Sustainable transformation as part of our strategy 59 Customer Segment Agriculture 7|9 Acquisition of Gemetica’ business ki 8 | 9 KAS Value creation, production and management of residues £9) 9 Financial data & IR
Slide 3: K+S Group
1 | 9 K+S Group
Slide 4: Board of Executive Directors – since June 1, 2025
Board of Executive Directors – since June 1, 2025 Dr. Christian H. Meyer Dr. Carin-Martina Tröltzsch (Chairman) Christina Daske Dr. Jens Christian Keuthen You can find the CVs of our Executive Board members on the K+S website. For current information on the responsibilities of the individual members
Slide 5: K+S Conspect: 50 locations on 6 continents
Das ist K+S K+S Conspect: 50 locations on 6 continents The history of the K+S Group goes back to the 19th century, when the world's first potash deposits were opened up in Germany. Today, the K+S Group is an internationally oriented raw materials company with production sites in Europe and North Ame
Slide 6: Why is K+S an attractive investment for investors?
Why is K+S an attractive investment for investors? K+S – an attractive investment ▪ Distinctive specialty-driven product portfolio tailored to the agricultural sector ▪ Strategic potash deposits in Germany and Canada ensure privileged access to key global application regions, complemented by a stron
Slide 7: Key investment highlights
Key investment highlights Our products are indispensable for people, animals, and plants Global megatrends call for efficient fertilization. With our fertilizers, we support farmers in combating world hunger. 1 K+S offers high-purity salts for over 5,000 different applications, including in pharmace
Slide 8: K+S at a glance
K+S at a glance Customer segments (no segments according to IFRS) Agriculture Industry+ With our wide range of potassium chloride (MOP) We produce, refine, and supply natural raw and fertilizer specialties, as well as materials for communities, consumers, and accompanying advice, we support farmers
Slide 9: Relevant megatrends
2 | 9 Relevant megatrends
Slide 10: Important megatrends and their implications
Important megatrends and their implications Implications for K+S 8.6 billion 0.2 ºC Average global warming ▪ Arable land shrinking Global population in 2030 Today: 8.0 billion per decade ▪ Yield needs to be improved ▪ Higher efficiency of fertilization and irrigation needed 40% ▪ Plants have to be m
Slide 11: Why use fertilizers?
Why use fertilizers? “The Natural Laws of Farming“, Justus von Liebig, 1863 “The growth and yield of a plant is limited by the nutrient available in the smallest amount.“ ▪ Plants need sunlight, water, and minerals to thrive. ▪ There are few soils on earth which have a sufficient content and availab
Slide 12: Long-term key drivers for our fertilizer business
Long-term key drivers for our fertilizer business Less arable land – but more protein consumption per capita 1960 2010 2050 Global Each year, an additional 80 million people needs to be fed – population development this equals the population of Germany. 3.0 billion 6.9 billion 9.7 billion Arable lan
Slide 13: Long-term demand drivers
Long-term demand drivers Demand drivers Arable land shrinking Industry & Water scarcity Pharma Increasing standard of living Agriculture Industry + Population growth Economic growth and industrialization Consumers Urbanization Winter weather conditions Infrastructure development Communities Global w
Slide 14: Farmer profitability of corn (USA)
Farmer profitability of corn (USA) Expenditure for potash products of an agricultural farm: approx. 4% of the total cost The earnings prospects should give the agricultural industry sufficient incentive to increase the yield per hectare by using plant nutrients. Profit potential in % of revenues 100
Slide 15: Market situation
3 | 9 Market situation
Slide 16: World potash production and sales volumes by region
World potash production and sales volumes by region in million tonnes Rounded values were used to simplify presentation. 29 ▪ Before the restrictions on Russian exports and the sanctions against Belarus, the potash market was 26 operating at full capacity. 40 6 ▪ By 2021, Russia and Belarus each 11
Slide 17: New potash capacities needed to meet rising demand
New potash capacities needed to meet rising demand Mio. t (incl. Potassium sulfate and low-grade potash) Growth of 2% p.a. 110 100 90 80 70 60 50 40 30 20 10 0 2031 2011 2010 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2032 2033 2034 2035 2036 2037
Slide 18: Global cropland nutrient balance
Global cropland nutrient balance Potassium the missing link Mio. t 90 • Global nitrogen balance in the soil has increased 75 continuously, while potassium balance has 60 declined since the 1990s 45 despite the growth in application. 30 • The growing imbalance threatens soil health, crop 15 resilienc
Slide 19: Growth drivers for global MOP demand
Growth drivers for global MOP demand Global demand hotspots (regions marked in green) Regional demand drivers Brazil: Larger corn and soybean acreage Southeast Asia & India: Growing palm oil production China: More ambitious yield targets and stricter production requirements Africa: High growth poten
Slide 20: Potash price development
Potash price development USD/t EUR/t , 1.200 , 1.200 , 1.100 Potassium , 1.100 Chloride , 1.000 (MOP) Brazil Potassium , 1.000 900 Sulfate 900 (SOP) 800 Europe 800 700 700 600 600 500 500 Potassium 400 Chloride (MOP) 400 Europe 300 300 200 200 07/23 07/20 01/21 07/21 01/22 07/22 01/23 01/24 07/24 01
Slide 21: Supplier structure on the global potash market 2025
Das ist K+S Supplier structure on the global potash market 2025 Top 5 Potash Fertilizer Producers: 11% China 2025 9% 20+ Producers 2024 9% World Potash Belaruskali 2025 15% 2024 14% Sales 69% Volumes Uralkali 2025 2024 16% 16% 2025 20% Others ICL, APC, EuroChem, Laos, Intrepid, Compass, SQM Nutrien
Slide 22: New potash capacities needed to meet rising demand!
New potash capacities needed to meet rising demand! in Mio. t eff. (product) 3.2 3.0 12.0 2.3 3.4 Demand growth until 2032 BHP Stage 1 Production Production by new projects in Production volumes from Additional capacity required to Belarus and Russia further realistic Greenfield meet increased deman
Slide 23: Between desire and reality
Between desire and reality Classification of potash projects announced since 2006 (Greenfield) Various greenfield projects planned in Thailand, Laos, Russia, Kazakhstan, Announced Uzbekistan, Belarus, Canada, USA, Brazil, and Argentina, among others. projects Companies involved include BHP Billiton,
Slide 24: Farmer profitability still at high level
Farmer profitability still at high level Price development of agricultural commodities since 01/2020 250 Maize Soybeans 200 Palmoil Wheat 150 100 December 2019 = 100 50 01/20 01/21 01/22 01/23 01/24 01/25 01/26 Source: Worldbank 24
Slide 25: Fertilizer Application Seasons by Region
Fertilizer Application Seasons by Region Region Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Explanations North America Brazil: Latin America - Safrinha season, corn (Jan-Mar), - Safra season, soybean (Sept-Nov) Europe: Europe - Spring application - Fall Application Black Sea region India: - Khar
Slide 26: Potassium use by crop in selected countries
Potassium use by crop in selected countries 100% 2% 5% 15% 90% 4% 80% 1% 43% 70% 60% 52% 50% 12% 83% 5% 40% 11% 30% 12% 13% 20% 10% 17% 13% 5% 1% 2% 4% 0% Euro zone Brazil Indonesia Wheat Corn Oil seed Sugar Soybean Rice Oil palm Fruits and Vegetables Rest Source: IFA, “Fertilizer Use by Crop” based
Slide 27: Global potash sales volume by region
Global potash sales volume by region million tonnes 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Western 5.6 5.8 6.2 6.0 5.9 6.2 6.2 6.0 6.2 6.5 4.9 4.8 5.7 5.7 Europe Central 5.1 4.7 4.4 4.8 4.8 5.2 5.4 5.5 5.6 6.0 4.4 4.9 6.1 5.8 Europe/FSU Africa 0.7 0.8 1.0 1.0 1.1 1.4 1
Slide 28: Supplier structure on European salt market
Supplier structure on European salt market K+S has a market share of 18% ▪ K+S has the highest market share in Europe and is the leader in salt production. Others 18% ▪ A versatile product portfolio with a high proportion of specialties enables customized solutions for a wide range of market 11% req
Slide 29: Sustainable transformation as part of our strategy
4 | 9 Sustainable transformation as part of our strategy
Slide 30: Guiding principles of strategy and management focus
Guiding principles of strategy and management focus Financial ambitions ▪ Earn cost of capital over a 5-year cycle ▪ At the same time, an average EBITDA margin of > 20% is aimed for over this cycle ▪ Generally striven for a leverage ratio (net debt/EBITDA): maximum 1.5x 30
Slide 31: K+S Sustainability Goals
K+S Sustainability Goals We have set ourselves ambitious goals in these three areas of action: Social Responsibility, Environment & Resources and Governance ▪ The human being is our focus ▪ Active commitment to environmentally friendly production ▪ Integrity & a sense of responsibility characterize
Slide 32: Our sustainable transformation pays off
Our sustainable transformation pays off K+S is the first producer to offer potash and salt ▪ Our capital expenditure will be increased in the course with the smallest Werra 2060 of the sustainable and economic transformation possible CO2 • Increase in energy (especially in the years 2026 and 2027).
Slide 33: Optimize the existing
Optimize the existing 70 % ▪ Increase of marketing in USA ex Bethune Agriculture ▪ Increase of trading business in Middle East, China and India ▪ Improved leveraging of local sales network ▪ Focus on potash product groups for industrial product sales Industry+ ▪ Capacity expansion of high-purity sal
Slide 34: Werra 2060 – Securing a sustainable future
Werra 2060 – Securing a sustainable future 70 % How do we want to achieve this? ▪ Unterbreizbach and Wintershall sites: Focus on wastewater-free processing methods Innovations in Methods already ▪ Unterbreizbach mine: Expansion of secondary mining operations (drill and blast) extraction and tested o
Slide 35: Bethune – Efficient Production in Canada
Bethune – Efficient Production in Canada 70 % Primary & Secondary Mining – Ramp-up of the production from a good 2 to 4 mln. tonnes p.a. In primary mining, fresh water is In secondary mining, only saturated pumped into the layer containing NaCl brine is injected instead of potash, creating so-called
Slide 36: Bethune – Above ground
Bethune – Above ground In the middle of Saskatchewan 36
Slide 37: Bethune – Below ground
Bethune – Below ground Pads and caverns 12 x In Bethune, a pad currently includes 12 underground caverns. Each one of them is about the size of a Bundesliga stadium. 37
Slide 38: Ambitious climate strategy adopted
Ambitious climate strategy adopted CO2 -emissions in million tonnes p.a. (Scope 1 and 2) 4 CO2 K+S Group ▪ Since 1990 we have already reduced our CO2 -emissions significantly: % Reduction vs. 2020 ▪ We achieved this through the extensive use of highly efficient combined heat and power (CHP) 2.6 * -2
Slide 39: Decarbonization – Greenhouse Gas Neutrality
Decarbonization – Greenhouse Gas Neutrality * Targets Implementation Expectation By 2030: Focusing on the following key areas to reduce CO2 emissions: Conditions in the energy Reduction of absolute industry framework CO2 emissions* by that provide incentives for at least CO2 decarbonization. 25% A T
Slide 40: Scope emissions according to categories
Scope 3 emissions according to categories ▪ K+S is very early in the value chain. The evaluation of the full scope 3 emissions, Others therefore, is a difficult process. Purchased ▪ With the first annual report according to ESRS, we re-evaluated our scope 3 emissions. All goods and data was reviewed
Slide 41: Our future – The climate-friendly potash production
Our future – The climate-friendly potash production In future, we want to produce potash with the smallest possible CO2 footprint – compared to today and compared to our foreign competitors. To do this, we are treading two paths in parallel: The change in production and processing processes – from w
Slide 42: CO2 reduced potash for sustainable agriculture
CO2 reduced potash for sustainable agriculture Development of footprint of potash (MOP) Requirements for the change of technology The reduction in In future, we will be able to produce potash in Germany with emissions results from the smallest possible CO2 footprint. Both ways of achieving the conve
Slide 43: Salt with the smallest possible CO2 footprint by 2030
Salt with the smallest possible CO2 footprint by 2030 Current system System conversion from 2030 Conversion of the salt works to low CO2 operation and the CO2 plants to "green" electricity procurement (CO2-neutral) Electricity Braunschweig-Lüneburg CO2 Natural gas ▪ Already very low in CO2 Natural a
Slide 44: Grow the core
Grow the core 20 % We enable farmers to achieve greater economic success Expansion of the portfolio ▪ Fertilization ▪ Fertigation ▪ Micronutrients ▪ Concepts for soil health ▪ Further additions to the portfolio Logistic access ▪ Circular economy ▪ Last Mile Distribution Digital sales ▪ Agronomic ser
Slide 45: New business areas
New business areas 10 % Subsequent use of existing assets and development of new business areas Renewable energy and decarbonization Circular economy ▪ Increasing use of renewable energies (wind, sun, biomass) at our ▪ Circular economy is driven by various political and social factors sites ▪ First
Slide 46: Performance Indicators
Performance Indicators Key Financial Performance Indicators Non-financial Performance Indicators The Company’s activities are managed based on the Performance indicators and target values in sustainability following key financial performance indicators, which are the management were defined for the
Slide 47: Performance Indicators
Performance Indicators Key Financial Performance Indicators 2020 2021 2022 2023 2024 2025 EBITDA € million 444.8 1,067.3 2,422.9 712.4 557.7 612.8 Group earnings after tax, adjusted € million -1,802.5 2,182.4 1,494.0 161.9 3.6 125.5 Capital expenditure € million 526.0 334.3 403.8 525.3 530.8 545.8 A
Slide 48: K+S Sustainability Goals 2030
K+S Sustainability Goals 2030 Target Dead- Target Target KPI 1 Unit 2025 Value line achievement ENVIRONMENT & RESOURCES Climate Change (E1): Absolute CO2 emissions in the K+S Group % -25 -11.7 2030 47% Reducing the carbon footprint and improving worldwide2 energy efficiency to enhance competitivenes
Slide 49: K+S Sustainability Goals 2030
K+S Sustainability Goals 2030 Target Dead- Target Target KPI 1 Unit 2024 Value line achievement SOCIAL RESPONSIBILITY Employees (S1): Injury with lost time 3, 4 Providing a healthy and safe work Vision LTI rate 0 5.5 52% environment to protect our employees who 2030 constitute our most valuable capi
Slide 50: K+S Sustainability: Ratings and Standards
K+S Sustainability: Ratings and Standards Current Trend over the Organization Rating scale Significance of rating rating last 12 months Rating scale from AAA to CCC AA Class of “Leader” Top rating in the „medium” category and only 1 step Rating scale from A+ to D- C+ away from prime status (from B-)
Slide 51: Our contribution to the 17 SDGs
Our contribution to the 17 SDGs K+S makes a direct contribution to a number of global sustainable development goals – and thus contributes to the fulfillment of the goals. More information and more details about our article can be found here. 51
Slide 52: Customer Segment Agriculture
3. Landwirtschaft 5 | 9 Customer Segment Agriculture
Slide 53: Agriculture customer segment at a glance
Agriculture customer segment at a glance Revenue split by region H1/2026 (%) Revenue split by products H1/2026 (%) others Fertilizer 10 specialties 45 Asia 19 Europe Potassium 46 chloride thereof Germany 55 10 South America 18 North America 7 Characteristics in € million ▪ Close proximity to our mos
Slide 54: Magnesium and sulfur make us unique
Magnesium and sulfur make us unique The Werra potash deposit is unique worldwide due to its natural origin. ▪ Crude salt contains not only potassium, but also magnesium sulfate ▪ Werra 2060 project: Focus on expanding and strengthening the specialties portfolio Competitors K+S MOP Potassium (Potassi
Slide 55: Our Products at a Glance
Our Products at a Glance Soil fertilizer Foliar and liquid fertilizer Other Other K2O MgO S** * K2O MgO S** nutrients * nutrients - 16 13 - 60 - - - - 15 12.4 0,9 B . 1 Mn 38 6 4.8 - 14 13.8 4 Mn . 1 Zn 38 6 4.8 0.25 B - 12.6 10 4B 48 4 4 - 5 Mn . 2 Zn . - 12 14 9 4 3.2 26.7 Na 1 Cu 60 - - - 50 - 17
Slide 56: Agriculture customer segment – ASP
Agriculture customer segment – ASP Average selling prices MOP and Fertilizer specialties €/t 800 600 400 Premium specialties on average 18% higher compared to MOP 200 0 Q1/15 Q1/16 Q1/17 Q1/18 Q1/19 Q1/20 Q1/21 Q1/22 Q1/23 Q1/24 Q1/25 Q1/26 MOP Fertilizer specialties Specialties ensure stability and
Slide 57: Customer Segment Industry+
6 | 9 Customer Segment Industry+
Slide 58: Industry+ customer segment at a glance
Industry+ customer segment at a glance Characteristics Revenue split by products H1/2026 (%) thereof ▪ Industrial: Diverse applications in a wide range of industries – water softening 8 from industrial processes and water treatment to animal feed Consumers 7 thereof industrial and food processing. F
Slide 59: Industry+ | Products and main areas of application
Das ist K+S Industry+ | Products and main areas of application Industry: 40% Food processing Animal nutrition Water treatment Industrial applications Production and processing of foods Products for animal nutrition, including Soft water for maintaining facilities and Raw materials and additives for
Slide 60: Industry+ | Value creator #1 | Chemicals
Rohstoffsicherheit Industry+ | Value creator #1 | Chemicals Customer group: Chlor-alkali and the cellulose industry 1.5 million tonnes annual volume in 2025 Products: ▪ Sodium and potassium chloride as essential raw materials for chlor-alkali electrolysis ▪ Magnesium sulphate as an additive in the c
Slide 61: Industry+ | Value creator #2 | Food processing
Rohstoffsicherheit Industry+ | Value creator #2 | Food processing Customer group: Food and beverage industry and carrageenan producers 600,000 tonnes annual volume in 2025 Products: ▪ Diverse product portfolio of rock, vacuum & sea salt, potassium chloride, sodium- reduced Balance Salt and magnesium
Slide 62: Industry+ | Value creator #3 | Industr. Applications
Rohstoffsicherheit Industry+ | Value creator #3 | Industr. Applications Diverse industries, e.g. electroplating, mineral oil, gas, textile, glass, building & plastics industries 400,000 tonnes annual volume in 2025 Products: ▪ Potassium, sodium and magnesium chloride as well as potassium and magnesi
Slide 63: Industry+ business – a stabilizing anchor
Industry+ business – a stabilizing anchor Industry+ revenues remain stable despite market fluctuations (excluding de-icing salt) Revenues in €t Stable Industry+ business: , , 1.200.000 Industry+ shows consistently stable revenue development despite market fluctuations. , 900.000 Low volatility: Sign
Slide 64: Acquisition of Qemetica's salt business
77||99Customer Acquisition of Qemetica’s Segment salt Industry+ business
Slide 65: Reducing volatility by allocating capital to initiatives with advantageous market conditions
Reducing volatility by allocating capital to initatives with advantageous market conditions Strategy Initiatives Delivered major strategic milestones through portfolio Agriculture repositioning, restoring a strong balance sheet, and an ▪ Disciplined potash business optimization with organizational t
Slide 66: K+S salt business has demonstrated impressive recent momentum
K+S salt business has demonstrated impressive recent momentum Salt has transitioned from a stabilizing element to an increasingly important value driver +64% ▪ Supply-side shifts have durably reinforced the strength and performance of the salt business in recent years ▪ The fundamentally enhanced bu
Slide 67: K+S acquires Qemetica's salt business
K+S acquires Qemetica’s salt business Acquiring Qemetica Salt unlocks a strong growth opportunity for our European salt business ▪ Qemetica, founded in 1945 and headquarted in Warsaw, Poland is a European Qemetica chemical group active in soda, salt, silicates, and agrochemicals ▪ The company is 100
Slide 68: Qemetica Salt at a glance
Qemetica Salt at a glance Qemetica’s specialty salt portfolio aligns seamlessly with our salt business, generating attractive synergies Strong European high purity salt supplier Sales breakdown Perimeter includes two plants Geographical Others A major Poland ~€125m Janikowo: one of the Stassfurt: mo
Slide 69: Extends geographic and product portfolio and adds capacity
Extends geographic and product portfolio in industry and consumer segments and adds capacity Expand Industry and Consumer segment Geographical footprint incl. Qemetica Salt (Salt) K+S gains two additional salt production sites, ▪ Industrial water enabling us to better serve customers across Industry
Slide 70: Rationale: Capacity expansion and diversification
Rationale: Capacity expansion and diversification Diversify regional portfolio Diversify product portfolio Enhancing geographic reach, empowering Expanding specialty salts boosts us to better meet customer needs “Industry/Consumer” markets while Acquisition reducing de-icing and chemicals exposure o
Slide 71: Value creation anchored in performance upside and synergy realization
Value creation anchored in performance upside and synergy realization Acquisition multiple, synergies included, is lower than K+S’s trading multiple ~7.0x <6x Pro-rata earn-out based on success in 2026&’27: Synergies Synergies ▪ Volume ramp with strategic customers Purchase price (PP) PP: €380m sust
Slide 72: Financing implications of proposed transaction
Financing implications of proposed transaction K+S is reviewing various financing and capital market Pro-forma net financial instruments to fund the purchase price for the acquisition and to leverage of approximately 0.4x optimize the Group’s financing structure. If no financing has net financial li
Slide 73: Summary
Summary Strong salt-market momentum Attractive opportunity with natural strategic fit to K+S Expanding specialty salt portfolio into “Industry” and “Consumer” markets Salt Solid production base providing extended geographic reach Attractive transaction economics pre and post synergies Balanced capit
Slide 74: Combining potash and magnesium products with salt strengthens value creation
K+S: Combining potash and magnesium products with salt strengthens sustainable value creation Potash Salt Extraction Logistics Customers Regulations & production & infrastructure & Sales & Permits • Similar mining and • Shared logistics • Integrated sales structures • Comparable regulatory processin
Slide 75: K+S Value creation, production and management of residues
8 | 9 K+S Value creation, production and management of residues
Slide 76: Phases of our value chain
Phases of our value chain Our potash and salt deposits came into being millions of years ago. They are either our property or we Exploration have corresponding rights or approvals that allow the extraction or solution mining of the raw material reserves. We extract raw materials in conventional mini
Slide 77: Underground mining production cycle
Underground mining production cycle Conventional mining 1 2 Muck pile load 3 4 Clearing Blasting after and dump Roof scaling shift end 9 Charging 5 Roof bolting with explosives 8 7 6 Drilling Face cleaning Auger drilling 77
Slide 78: Main production methods for salt
Main production methods for salt Rock salt Sea/solar salt Evaporated salt Brine Conventional Crystallization Recrystallization Controlled mining of sea water of purified brine solution mining ▪ Around 60% of worldwide salt production (more than 290 million tonnes including brine) is obtained from ro
Slide 79: K+S potash production capacity in Germany
Das ist K+S K+S potash production capacity in Germany Share of annual potash production capacity (in %) ~ 26% 4 Zielitz ~ 55% Combined plant Werra 4 Wintershall 1 1 2 3 Unterbreizbach 2 5 Hattorf 3 Total potash production K+S DE 2025 ~ 19% ca. 5.5 million tonnes eff. 5 Neuhof-Ellers 79
Slide 80: K+S salt production capacity
Das ist K+S K+S salt production capacity Share of annual salt production capacity (in %) ~ 26% 9 Borth Rock salt and evaporated salt ~ 42% 10 7 ~ 10% 8 Bernburg 7 Braunschweig-Lüneburg 9 8 Rock salt and Rock salt evaporated salt Total salt production K+S DE 2025 ca. 5 Mio. t eff.* ~ 22% 10 Frisia Ev
Slide 81: K+S in Canada: Bethune
K+S in Canada: Bethune Strengthening our global presence ▪ Expanding our current production portfolio in Germany with a North American production site → Only supplier with production sites in Europe and North America ▪ Securing a good asset base with competitive China production costs India North Am
Slide 82: K+S logistics at a glance
Rohstoffsicherheit K+S logistics at a glance We deliver our products to the customer: CO₂-efficient, cost-effective, fast and flexible! Fast and flexible Cost-efficient Quality-conscious Low CO2 transportation Thanks to multimodal Through careful planning A high proportion of direct We rely on means
Slide 83: Cost curve at customer's gate much flatter
Cost curve at customer’s gate much flatter Ramp-up of Bethune as well as measures to optimize the existing business USD/t Bethune's further ramp- up to 4 million tonnes will bring Bethune to the first quartile. fob cost curve 2024 cost curve at Brazil (25 USD up from 2020) customer‘s gate 2024 fob c
Slide 84: Potash processing above ground
Potash processing above ground Electrostatic Thermal dissolution Flotation Separation (ESTA®) Heating Floatation brine Finely ground 25 °C 110 °C crude salt Finely ground Mother brine Finely crude salt ground Conditioning Flotation Undis- crude salt agent solved residue + dissolved Air bubbles Tribo
Slide 85: Potash production: management of residues
Potash production: management of residues ▪ Crude salt has only a limited recyclable content (max. 30%), therefore the generation of residues is inevitable. All potash producers worldwide face this challenge. ▪ The recycling of partial volumes is performed at all producers. ▪ The methods, processes,
Slide 86: Green investments = long-term planning security
Green investments = long-term planning security Tailings piles extensions Hattorf ▪ Approval of Hattorf tailings pile expansion (phase 3) in mid-2025 and investments required Wintershall ▪ Next approval and significant investments in tailings pile extensions will not be necessary again until the end
Slide 87: Reduction of tailings pile water: coverage & greening
Reduction of tailings pile water: coverage & greening Our objectives Objective Reduction of tailings pile water by up to 90% ▪ From 2030 onwards, K+S will be able to use three million tonnes of residue annually for purposes other than tailings pile disposals. ▪ By 2030, we want to cover a further 15
Slide 88: Tailings pile and process water at the Werra site
Tailings pile and process water at the Werra site Development of saline wastewater Disposal of saline wastewater Utilization/Avoidance Reduction of saline wastewater based on various measures within (CapEx: almost €500 million) the last 25 years: Further ▪ Underground disposal in Unterbreizbach redu
Slide 89: Financial data & IR
9 | 9 Financial data & IR
Slide 90: Key financial figures
1 Key financial figures Revenues (€ billion) EBITDA 5.7 2,423 3.9 3.7 3.6 3.2 1,067 445 712 558 613 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 EBITDA margin (%) FCF (€ million) +932 43 33 +93 +311 +62 +29 18 15 17 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 1 The figures relate to
Slide 91: Operating and adjusted cash flow
1 Operating and adjusted cash flow 1,394 932 822 640 583 573 445 429 347 311 307 309 140 93 62 29 -42 -206 -390 -777 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Operating Cash Flow Free Cash Flow (adjusted) 1 The figures relate to the continuing and discontinued operations of the K+S Group for
Slide 92: Cash flow and balance sheet
Cash flow and balance sheet H1/24 9M/24 FY/24 3M/25 H1/25 9M/25 FY/25 3M/26 H1/2026 Operating cash flow 321 484 583 162 265 425 573 214 331 Investing cash flow (adjusted by sale/purchase of securities and other -235 -373 -521 -130 -240 -364 -544 -189 -230 financial investments) Adjusted free cash fl
Slide 93: K+S Share
K+S Share Key data Shareholder structure as of Dec 31, 2025 ▪ WKN: KSAG88 Private Investors ▪ ISIN: DE000KSAG888 34% ▪ Type of shares: registered shares of no-par value Free float ▪ Total number of shares: 179,100,000 100% ▪ Trading segment: Prime Standard Institutional ▪ Ticker symbols: Bloomberg S
Slide 94: Share performance
Share performance Performance of the K+S Share Market Capitalization Index: Dec. 31, 2020 = 100 500% K+S 4.1 4.5 400% MDAX 4.3 4.0 3.5 300% 3.0 2.9 2.6 2.1 2,2 200% 1.9 1.5 100% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0% Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 As of Dec. 31, 20
Slide 95: Performance of the K+S share in comparison
Performance of the K+S share in comparison Index: December 31, 2021 = 100 250% MDAX K+S 200% Nutrien Mosaic 150% ICL 100% 50% 0% 12/2021 12/2022 12/2023 12/2024 12/2025 Source: Bloomberg; August 3, 2026 95
Slide 96: Distribution policy
Distribution policy K+S sets guiding principles for attractive shareholder participation Shareholder participation in K+S aims to return 30% to 50% The following factors are applied K+S wants to maintain a K+S's corporate success will of the adjusted free cash flow in determining the exact strong ba
Slide 97: K+S ADR Program
K+S ADR Program The K+S ADR Program offers North American investors the opportunity to take stock in K+S. Since the ADRs are quoted in US dollars and dividends are also distributed in US dollars, this financial instrument closely resembles an American share. Two ADRs represent one K+S ordinary share
Slide 98: K+S debt instruments and issuer rating
K+S debt instruments and issuer rating Issuer rating (S&P): BBB- (outlook: stable) since June 2023 Bond 06/2029 (3-months-par-call) WKN A383E2 ISIN XS2844398482 Listing Luxembourg SE Issue volume €500 million Outstanding volume €500 million Issue price 99.147% Coupon 4.250% Maturity June 19, 2029 De
Slide 99: K+S debt instruments
K+S debt instruments Convertible Bond 06/2031 Convertible Bond 06/2031 WKN A460GW ISIN DE000A460GW7 Listing Open Market segment, Frankfurt Stock Exchange Issue volume €320 million Outstanding volume €320 million Issue price 100% Coupon 0.625% Maturity June 16, 2031 Denomination €100,000 99
Slide 100: Financial calendar
Financial calendar Quiet Period prior to the report October 13 to November 10, 2026 (7 a.m. CET) Quarterly Report: September 30, 2026 November 10, 2026 Quiet Period prior to the report January 28 to March 11, 2027 (7 a.m. CET) Annual Report 2026 March 11, 2027 Quiet Period prior to the report April
Slide 101: Investor Relations @ K+S Aktiengesellschaft
Investor Relations @ K+S Aktiengesellschaft Julia Bock, CFA Head of Investor Relations & Corporate Secretary Phone: + 49 561 / 9301-1009 Fax: + 49 561 / 9301-2425 julia.bock@k-plus-s.com Esther Beuermann, MBA Senior Investor Relations Manager Phone: + 49 561 / 9301-1679 Fax: + 49 561 / 9301-2425 est
Slide 102: Disclaimer
Disclaimer No reliance may be placed for any purpose whatsoever on the information or opinions contained in the Presentation or on its completeness, accuracy of fairness. No representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its respective direc
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