Goldman Sachs Eighth Annual Chemicals Conference

K+S Group

Dr Burkhard Lohr, CEOJulia Bock, Senior Investor Relations Manager

London, 15 March 2019

1

K+S Group

K+S Group

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 directors, officers, employees, agents or

advisers as to the accuracy, completeness or fairness of the information or opinions contained in the Presentation and no responsibility or liability is accepted by any of

them for any such information or opinions. In particular, no representation or warranty, express or implied, is given as to the achievement or reasonableness of, and no

reliance should be placed on any projections, targets, ambitions, estimates or forecasts contained in this Presentation and nothing in this Presentation is or should be

relied on as a promise or representation as to the future.

This Presentation contains facts and forecasts that relate to the future development of the K+S Group and its companies. The forecasts are estimates that we have made

on the basis of all the information available to us at this moment in time. Should the assumptions underlying these forecasts prove not to be correct or should certain

risks – such as those referred to in the Annual Report – materialise, actual developments and events may deviate from current expectations. Given these risks,

uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forecasts.

This Presentation is subject to change. In particular, certain financial results presented herein are unaudited, and may still be undergoing review by the Company’s

accountants. The Company may not notify you of changes and disclaims any obligation to update or revise any statements, in particular forward-looking statements, to

reflect future events or developments, save for the making of such disclosures as are required by the provisions of statue. Thus statements contained in this

Presentation should not be unduly relied upon and past events or performance should not be taken as a guarantee or indication of future events or performance.

This Presentation has been prepared for information purposes only. It does not constitute an offer, an invitation or a recommendation to purchase or sell securities

issued by K+S Aktiengesellschaft or any company of the K+S Group in any jurisdiction.

Current Trading

3

K+S Group

K+S Group

Higher potash prices

Strongly improved Bethune volumes

Productivity issues and weather-related

stoppages in Germany

Significantly more salt products shipped

(+3mt), but freight cost headwind

EBITDA and FCF improved

Shaping 2030 accelerated

577 606

117

99 -70 -16

-101

FY17 Price Volume/Mix

Droughteffect

FX Othereffects

FY18

Highlights Financials

€ million FY17 FY18 YoY

Revenues 3,627 4,039 +11%

t/o Potash 1,704 1,973 +16%

t/o Salt 1,762 1,891 +7%

D&A -306 -379 -24%

EBITDA 577 606 +5%

t/o Potash 269 359 +33%

t/o Salt 325 275 -15%

Adj. net profit 145 85 -41%

Adj. EPS (€) 0.76 0.45 -41%

DPS (€) 1) 0.35 0.25 -29%

Operating cash flow 307 309 +1%

Adj. FCF -390 -206 +47%

CapEx 811 443 -45%

Net debt/EBITDA 7.2 7.3 -

EBITDA in €m

Main effects:

- Logistic costs

- Shaping 2030

- Others, e.g.

insurance pay-

ment Bethune

in 2017

FY 2018: Revenues and EBITDA increased

Main effects:2017: - ~40

2018: -110

∆: - 70

1) Proposal to the AGM

4

K+S Group

K+S Group

Pricing (Source: FMB)

80%

90%

100%

110%

120%

130%

140%

Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19

SOP Europe

MOP Brazil

Global demand 2018 again slightly up to

~71mt KCl (2017: ~69mt)

Sound demand holds across all regions

Most producers are sold out into Q1

MOP price momentum continued

during Q4

European MOP and Specialty prices

have started to pick up but are still

lagging behind

K+S average selling price 2018:

264 €/t (2017: 254 €/t)

Trading Update Potash

MOP Europe

5

K+S Group

K+S Group

Trading Update Salt

Pricing trends in de-icing

De-icing

Mixed picture in our winter regions

Good pre-stocking in US Mid-West

Highly competitive US East Coast

Dec below average in terms of

volumes, Jan/Feb more normal

Non de-icing

Solid demand, gradually increasing

sales volumes

Logistics costs inflation to continue in

2019

2.43 2.262.49 2.48 2.44 2.51 2.54 2.66

Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

K+S non de-icing volumes (in mt)

6

K+S Group

K+S Group

0

50

100

Ma

y

Jun

Jul

Au

g

Se

p

Oct

Nov

Dec

In l/m2

Rainfall comparison (River Werra)

2018

5yr Average

Source: Wetterkontor.de

Impact on K+S

Long-lasting severe drought in 2018 led to temporary

shutdowns in Q3 and Q4:

Wintershall: 38 days

Hattorf: 23 days

Unterbreizbach: 3 days

Negative EBITDA impact of about € 110 million in 2018

Basin capacities have been increased by

> 10% to 600,000 cubic meters

Water levels were low!

High logistics costs for remote disposal (old mines)

Inland shipping was also impacted

In 2019, significantly higher storage capacity expected

(400,000 cubic meters underground storage by summer)

High probability to have no weather-related standstills

in 2019

Extreme weather situation in Germany - implications

Shaping 2030 Strategy

K+S Group 8

K+S Group

Tapping the full potential of our existing assets... and establish the most value-creating portfolio combination

Exploring new adjacent growth areas... pursuing growth by venturing into new markets where we can use our existing capabilities

Increasing the share of our specialties business... to ensure an overall stabilized performance and reduce our dependency on standard products and weather

'One Company' ... thinking and acting as 'One Company' and realizing synergies between our businesses

We will be the most customer-focused, independent minerals company and grow our EBITDA to €3bn in 2030 by ...

Our vision for 2030

IndustryAgriculture

ConsumersCommunities

K+S Group 9

K+S Group

Phase 2: Growth

203020202017

Phase 1: Transformation

Realize synergies

Advance corporate culture

Net debt/ halvedEBITDA vs. H1/2017

Synergies > €150m

EBITDA-Ambition €3bn

ROCE > 15%

Revenue growthbeyond 2030

> 4%

Increased share of specialties

Tapping the full potential of our existing assets

Exploring new adjacent growth areas

Shaping the organizationand focusing towards our clients

Reduce indebtedness

Investment grade ratingachieved in 2023

We will implement our strategy in two phases

Phase I

11

K+S Group

K+S Group

Phase I: Building a basis for our growth options

Matrix

Operating Unit Function

Agriculture

Industries

Consumers

Communities

Customer Segments

Operations

IndustryAgriculture

ConsumersCommunities

Board of Executive Directors

COO Group CFO GroupCEO Group

CEO Americas

Head of Human Resources

Head of Corporate Communications

Head of Corporate Development

Head of Corporate Controlling

Matrix

Executive Committee

Head of Marketing,Sales & Supply Chain

Excellence

Marketing & SalesCommittee

Operations Excellence Committee

Head of Operations Excellence

CEO Europe+

Board of Executive Directors

Divisional Silos

12

K+S Group

K+S Group

SHAPING 2030

Lift synergies

Operations

Procurement

Supply Chain and Logistics

Commercial Excellence

SG&A Optimization

> €50m

Net synergies YE 2020 (vs. 2017)

> €30m

> €20m

> €20m

~ €30m

COO

Sponsor

CFO

COO

COO

CEO

∑ > €150m

Synergies: Breakdown by program

13

K+S Group

K+S Group

Shaping 2030 EBITDA impact

Costs Synergies > €150m

Total costs for synergy program: ~ €150m (2020 year end)

2018e 2019e 2020e

K+S Group 14

K+S Group

This NPV equals an EV per share of 25 EUR

Variation NPV change

MOP gran. Brazil +/- 10 USD/t +/- €200 million

“We create value for our stakeholders!”

Net Present Value (NPV) Bethune

Sen

siti

viti

es

NPV for Bethune EUR 4.8 bn

15

K+S Group

K+S Group

Site costs (FOB) in comparison (2020)

* column width = production capability in million tonsSource: CRU Report 2016, K+S

-30%

BU Potashw/o Bethune

(incl. Specialties)

Best-in-class

USD/t

K+S Bethune(in 2023)

K+S Zielitz(Purely MOP)

K+S Bethune*

The Bethune ramp-up to 2.86 million tons in 2023 (production capability) significantly improves K+S's competitive position.

Phase II

17

K+S Group

K+S Group

Implications for K+S

Arable land shrinking

Yield needs to be improved

Higher efficiency of fertilizationand irrigation needed

Plants have to be more stressresistent

Infrastructure needs to beimproved focus on renewable energy

Growing population, especiallyin Asia, needs more salt forvarious purposes

Today: 7.3bn

8.5bnGlobal population in 2030

Per decade

0.2Average global warming (ºC)

70% of water used for agriculture

40%of population suffer from water shortage by 2030

2015: 3.0bn

5.4bnpeople belong to the middle-class by 2030

Our strategy has incorporated important megatrends

18

K+S Group

K+S Group

Geo-expansion Fertilizer Industry

Africa

Asia

Increase of fertilizer specialties

Ramp of low cost commodities

Expand Pharma & Food portfolio

Chemical applications

Growth areas and ideas cover the full growth landscape

K+S Growth Landscape

Growth areas and ideas cover core and adjacent businesses

Financials

K+S Group 20

K+S Group

P&L

€ million Q1/17 Q2/17 Q3/17 Q4/17 FY/17 Q1/18 Q2/18 Q3/18 Q4/18 FY/18

Revenues 1,126 742 723 1,032 3,627 1,170 812 840 1,217 4,039

EBITDA 211 102 77 187 577 237 105 36 228 606

Margin 19% 14% 11% 18% 16% 20% 13% 4% 19% 15%

EBIT I 137 29 12 93 271 147 13 -58 125 227

Financial result -9 -4 -9 -5 -26 -31 -25 -26 -30 -112

EBT, adjusted 129 25 3 87 244 116 -12 -84 95 115

Tax rate, adjusted 27% 24% 33% 66% 41% 28% 25% 27% 25% 26%

Net income, adjusted 95 19 2 30 145 84 -9 -61 71 85

EPS, adjusted 0.49 0.10 0.01 0.16 0.76 0.44 -0.05 -0.32 0.38 0.45

K+S Group 21

Cash Flow and Balance SheetK+S Group

€ million Q1/17 H1/17 9M/17 FY/17 Q1/18 H1/18 9M/18 FY/18

Operating cash flow 267 384 383 307 233 292 276 309

- Investing cash flow(pre sale/ purchase of securities)

-212 -410 -623 -697 -90 -198 -336 -515

Adjusted free cash flow 55 -26 -241 -390 143 94 -60 -206

CapEx 277 410 568 811 63 154 278 443

Net debt 3,614 3,745 3,939 4,141 4,009 4,129 4,299 4,444

t/o Net financial debt 2,440 2,592 2,780 2,974 2,834 2,944 3,100 2,974

Net debt/ EBITDA (LTM) 8.1 8.1 8.1 7.2 6.7 6.8 7.6 7.3

Equity ratio 48% 45% 44% 43% 42 % 43% 41% 41%

K+S Group 22

K+S Group

NEW OLD NEW

New Reporting Structure

Europe+:Potash and Magnesium Products (incl. Bethune)

Salt Europe

Americas:Salt excluding Europe

Potash and MagnesiumProducts (incl. Bethune)

Salt

Potassium chlorideFertilizer specialities

Industrial products

Complementary

Non De-icing

Non De-icing

De-icing salt

Agriculture

Industry

Consumers

Communities

Operating Units Business segments Products Customer Segments Subsegments

• Potassium chloride (MOP)• Fertilizer specialities:

SOP, Kieserite, Kornkali

• Chemical• Animal Nutrition• Oil and Gas• Water Softening• Food• Pharma• Complementary

• Culinary• Water and Pool• Ice Melt

• De-icing Bulk • De-icing Packaged

Complementary Activities

Segments according to IFRS 8

Reconciliation Reconciliation

K+S Group 23

K+S Group

Guidance 2019

K+S EBITDA 2019: € 700 to 850m (2018: € 606m)

606

700-

850

FY18 Price Volume/Mix

FX,Others

Costinflation

FY19

EBITDA in €m

Main effects:

+ Bethune

+ Absence of

drought

effect

- Roof stability

Neuhof

- Average de-

icing salt

business

after good

Q1/18

Developments in new reporting structure:

Operating Unit Europe+

EBITDA significantly up (2018: € 443m)

Good market environment for fertilizers

Further increase of Bethune production

No weather-related stoppages assumed, but off-site

disposal is still required

Operating Unit Americas

EBITDA about stable (2018: € 222m)

Start into de-icing salt business overall on long-term

average

Assumption: avg. de-icing salt business for rest of the year

Overall supportive product prices might be

compensated by cost inflation

Adjusted free cash flow will improve significantly and turn positive in 2019

Avg. spot rate EUR/USD 1.20 (2018: 1.18)

Main effects:

+ Sigmunds-

hall

+ Shaping

- FX

+/- Others

Main effects:

+ ASP in CS

Agriculture

moderately

up on last

year

+ Supportive

product prices

in other CSs

Main effects:

- Inflation

returning:

Higher

personnel,

energy, freight

and material

costs

K+S Group 24

K+S Group

Expected development of our potash production

Change in production

~500ktWerra (+): challenges addressed, improving product availabilityWerra (+): no weather-related outage days assumed Neuhof (-): roof stability remains an issue

+100ktKCF

-600ktSigmundshall

+300 to 500ktBethune (+)

-100ktLower K2O content in

Germany

High-cost production to be replaced by low-cost volumes from Bethune

~6.0mt Germany (incl. all outage days)

~1.4mt Bethune

0.1mt Huludao

Total: 7.5mt

Sales Volume ofPMP: 7.5mt

2018

~ 5.9mt Germany

1.7 – 1.9mt Bethune

0.1mt Huludao

Total: 7.7 – 7.9mt

Cash Unit Cost*: >200 €/t

due to overall cost inflation

2019

* Defined as (Revenues-EBITDA)/Sales volume in the Potash and Magnesium Business Segment

25

K+S Group

K+S Group

0

200

400

600

800

1.000

1.200

2015 2016 2017 2018 2019e 2020e

BU Potash (ex Bethune)

Bethune

BU Salt

Complementary Activities

in m€

CapEx development 2015-2020

K+S sustainability KPIs and targets 2030

27

K+S Group

K+S Group

Goal KPI 2018Target by

2030 at the latest

PEO

PLE

Health & Safety

Lost time incident rate (LTIR) 7,90

Vision 2030

Diversity & Inclusion

Employees’ favorable perception of inclusive work environment (percent)

68 (2015) >90

Human Rights

Sites covered by a human rights due diligence process (percent)

0 100

K+S sustainability KPIs and targets 2030 – People

28

K+S Group

K+S Group

Goal KPI 2018 Target by2030 at the

latest

ENV

IRO

NM

ENT

Water

Deep-well injection of saline wastewater in Germany (m³ p.a.)

1.0 0 starting January

2022

Additional reduction of saline process water from potash production in Germany (m³ p.a.)

+400,000-500,000

excluding reduction by KCF facility and

end of production SI

Waste

Amount of residues used for other purposes than tailings piles or increased amount of raw material yield (million tons p.a.)

1.0 3

Additional area of tailings piles covered (ha) 5.9 155

Energy & Climate

Carbon footprint for power consumed (kg CO2/MWh) (percent)

-1.5 -20

Specific greenhouse gas emissions (CO2) in logistics (percent)

-2.0 -10

K+S sustainability KPIs and targets 2030 – Environment

29

K+S Group

K+S Group

Goal KPI 2018Target by

2030 at the latest

BU

SIN

ESS

ETH

ICS

Sustainable Supply Chains

Critical suppliers aligned with the K+S Group Supplier Code of Conduct (SCoC) (percent)

14.7100

by end of 2025

Spend coverage of the K+S Group SCoC (percent) 29.4> 90

by end of 2025

Compliance & Anti-Corruption

All employees reached by communication measures and trained appropriately in compliance matters (percent)

71100

by end of 2019

K+S sustainability KPIs and targets 2030 – Business Ethics

K+S Group 30

K+S Group

Housekeeping Items / Financial Calendar

Tax rate: ~30%

Financial result: -120 to -130 million EUR

CapEx: ~ 600 million EUR

D&A (incl. Bethune): 380 to 400 million EUR

Reconciliation (EBITDA): -60 to -70 million EUR

Additional information on Outlook FY 2019

Financial Calendar

Customer Segment Agriculture:Sales volume: 6.9-7.2 mt(2018: 6.8 mt)ASP: moderately up (2018: 255 €/t)

Customer Segment Communities:Sales volume: 12.5-13.0 mt(2018: 13.3 mt)

Roadshow Frankfurt, Société Générale 15 March 2019

Goldman Sachs 8th Annual European Chemicals Conf., London 15 March 2019

Bankhaus Lampe Deutschlandkonferenz, Baden Baden 3 April 2019

Q1 2019 Earnings Release 14 May 2019

Annual General Meeting, Kassel 15 May 2019

31

K+S Group

K+S Group

IR Contact Details

E-mail: investor-relations@k-plus-s.comHomepage: www.k-plus-s.comIR-website: www.k-plus-s.com/ir

K+S AktiengesellschaftBertha-von-Suttner-Str. 734131 Kassel (Germany)

Laura SchumberaJunior Investor Relations Manager

Phone: +49 561 / 9301-1607Fax: +49 561 / 9301-2425laura.schumbera@k-plus-s.com

Lutz GrütenHead of Investor Relations

Phone: +49 561 / 9301-1460Fax: +49 561 / 9301-2425lutz.grueten@k-plus-s.com

Christiane MartelRoadshow Management

Phone: +49 561 / 9301-1100Fax: +49 561 / 9301-2425christiane.martel@k-plus-s.com

Martin HeistermannSenior Investor Relations Manager

Phone: +49 561 / 9301-1403Fax: +49 561 / 9301-2425martin.heistermann@k-plus-s.com

Alexander EngeInvestor Relations Manager

Phone: +49 561 / 9301-1885Fax: +49 561 / 9301-2425alexander.enge@k-plus-s.com

Julia Bock, CFASenior Investor Relations Manager

Phone: +49 561 / 9301-1009Fax: +49 561 / 9301-2425julia.bock@k-plus-s.com