KWS Investor Presentation February 2015

Investor PresentationKWS SAAT AGFebruary, 2015

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Business performance of the KWS Group

November 2014 Investor Presentation

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Sales* in Europe in € bn

1.30 USD/EUR

* Estimated sales for calendar year 2013

Source: Phillips McDougall Consultants;

own estimates KWS

Global sales in € bn

1.30 USD/EUR

1) Sales 2013/14 „Seeds & Genomics“ w/o vegetables; FY: September 1 to August 31

2) Sales 2013, „Seeds“; FY: January 1 to December 31

3) Sales 2013 w/o flowers & vegetables; FY: January 1 to December 31

4) Sales 2013; „Seeds, Traits & Oils“; FY: January 1 to December 31

5) Sales 2013/14; FY: July 1 to June 30

6) Sales 2013/14; „Field seeds“; FY: July 1 to June 30

TOP 6 Global agricultural seed companiesSales of agricultural crops

February 2015 Investor Presentation

DuPont/Pioneer

Vilmorin

Monsanto

1.0

0.7

0.6

0.6

0.5

DuPont/Pioneer

Vilmorin

Syngenta

Monsanto 7.6

1.2

0.9 6)

3)

2)

1)

4)

6.3

1.9

1.3 Dow

5)

Dow 0.1

Syngenta

4

754855

9861,147 1,178

09/10 10/11 11/12 12/13 13/14

KWS Track record

Sales in € mn

EBIT in € mn

EBIT-Margin 2013/2014: 11.8%

82117

141 151138

09/10 10/11 11/12 12/13 13/14

• After adjustment for exchange rate effects:Sales of €1,228.5 mn (+7.1%) EBIT of €142.6 mn (-6.5%)

• Below-proportionate increase in cost of sales by 1.2% to €614.5 mn

• Increase in expenditure:R&D by 6.0% to €148.8 mnSelling expenses by 7.1% to €204.0 mn

In the following figures of FY 2012/13 are adjusted to IAS 19 (2011)February 2015 Investor Presentation

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Rest of world5%

Europe (w/o Germany)38%

Americas38%

Germany19%

By Region

Total sales by Region and Business Segment 2013/2014


By Business Segment

Cereals9%

Sugarbeet*

30%

Corn61%

* Incl. potato sales

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Sales and EBIT-Margin Development by Segment

Corn in € mn Sugarbeet in € mn Cereals in € mn

EBIT-Margin Net sales


78 93 112 107112(e)

19% 20%24%

16%12%

10/11 11/12 12/13 13/14 14/15

477

572

702 715

778(e)

13% 14% 13% 14%11%

10/11 11/12 12/13 13/14 14/15

294 313 329 351 362 (e)

22%25%

22% 20% 21%

10/11* 11/12* 12/13* 13/14* 14/15*


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Rest of world2.5%

Europe(w/o Germany)33.7%

Americas35.0%

Germany28.8% Cereals

8.3%

Sugarbeet*

32.8%

Corn51.8%

Corporate17.1%


Capital expenditure 2013/2014Strengthening of growth markets

By Region

€ 83 mn

By Business Segment

€ 83 mn


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9

Corn Segment2013/2014

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Source: Kleffmann, KWS, USDA

Market volume 2013/2014in mn ha

EU 28: 1.1 mn ha (+1%)

Europe (excl. CH, incl. TR, UA, RU): 23.4 mn ha (+1%)

0.8 1.7 2.1 2.6 3.2 3.7 4.97.8

15.5

34.0

37.1

Corn acreage for sowing season 2014

NE: DK, UK, NL, BE; SOE: HU, BG, AT, RO, RS, HR; NA: US; ME: PL, CZ, SK; SE: IT, ES, PT; OE: RU, UA


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Net sales in € mn 2009/2010 – 2013/2014

Others25%

Corn EUNet sales and Market Share

Pioneer22%

KWS19%

Vilmorin13%

Syngenta6%

* Kleffmann, 2014

Market Share* 2013/2014

Monsanto15%

EU acreage

14.1 mn ha


231259

297 314 321

09/10 10/11 11/12 12/13 13/14

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Others13%

Corn North AmericaSales development and Market Share

Pioneer35%

AgReliant7%

Syngenta6%

Dow4%

Net sales in € mn 2009/2010 – 2013/2014

* Estimated data, KWS

Market Share*2013/2014

Monsanto35%

US acreage

37.1 mn ha

50-50 JV with Vilmorin, France


318358

451

537 509

09/10 10/11 11/12 12/13 13/14

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Asia/Africa17%

Corn - Other RegionsNet sales development and Market Share

South America48%

European not EU states35%

Sales breakdown other regions2013/2014


Segment sales 2013/2014

€147 mn

23 39 50

123145

09/10 10/11 11/12 12/13 13/14

Net sales in € mn 2009/2010 – 2013/2014

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New markets - Brazil

Net sales 2014/2015: €65 mn (previous year: €53 mn)

• World‘s third largest corn market (approx. 15 mn ha)

• Tropical & subtropical climate

• Growing importance of GM-crops

• Significant competitors: Pioneer, Monsanto and Syngenta


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82%

7,500 Chinese breeding companies

KWS 3% Pioneer

12%

MonsantoSyngentaVilmorineach 1%

New markets - China

Corn acreage34 mn ha

KWS corn varieties grow on approx. 1 mn hectares in China.

• Approval of the JV with our longstanding partner Kenfengmid-2014

• Operational start of the JV in FY 2015/2016


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Sugarbeet Segment2013/2014

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Sugarbeet Segment sales2013/2014

Total Segment sales

€351.1 mn

Potato9%

Sugarbeet91%


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Others1%

Sugarbeet worldwideNet sales and Market Share

KWS25%

Strube13%

Syngenta10%

Desprez6%

Betaseed13%

Maribo3%

Lion Seeds1%

Net sales1 in € mn2009/2010 – 2013/2014

Global Acreage: 4.1 mn ha

ACH Seeds9%

Market Share1,2

2013/2014


1 Sugarbeet seeds w/o potato 2 Own data KWS, 2014

247267

281298

319

09/10 10/11 11/12 12/13 13/14SESVanderHave19%

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Sugarbeet EUNet sales and Market Share

Net sales1 in € mn 2009/2010 – 2013/2014

EU-Acreage: 1.6 mn ha

1 Sugarbeet seeds w/o potato

Others1%

SESVanderHave22%

KWS39%

Strube18%

Syngenta8%

Desprez5%

Betaseed3%

Maribo4%

Market Share1,2

2013/2014

2 Own data KWS, 2014

113132 129 128 137

09/10 10/11 11/12 12/13 13/14


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Important sugarbeet research projectsat KWS

New research & breeding projects:

New breeding technologies (GABI)

KWS & Bayer ALS (non-GMO herbicide resistance)

KWS & BASF Yield genes (GMO)

Rizomania resistance (GMO virus resistance)

Winter Beet (GMO)

…

What lies ahead?

KWS will remain no.1 in innovations


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Cereals Segment2014/2015 (e)

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KWS Cereals activities2013/2014

Net sales in € mn2010/2011 – 2014/2015


78 93 112 107 112

10/11 11/12 12/13 13/14 14/15

Strong acreage-related decline in hybrid rye business

Segment sales 2014/2015

€112 mn (e)

Others8%

Barley14%

Rapeseed6%

Wheat20%

Rye52%

Net sales breakdown by product group2014/2015

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Acquisition of the remaining 18.9% of shares in KWS LOCHOW GMBH


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Takeover of the remaining shares in Momont, France



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Research & Development

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Research & Development at KWS Base of a successful Corporate Development

Development of R&D expenditurein € mn

Estimated R&D intensity of approx. 13% in FY 2014/2015

98

114127

140149

09/10 10/11 11/12 12/13 13/14


Bio-Research & Development Growth Park (BRDG Park) in St. Louis, Missouri (U.S.)

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274296 303

276

336

09/10 10/11 11/12 12/13 13/14

1,446 1,4601,582

1,768 1,836

09/10 10/11 11/12 12/13 13/14

Research & Development at KWSHighly innovative and tailor-made

R&D employees

Newly approved varieties


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KWS: Global breeding

Breeding and distribution in over 70 countries


Trial locations

Breeding stations

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KWS Trait PipelineProgress by Project

Genetically engineeredTrait

Lead Gene Identification

Proof ofConcept

Elite Event Selection

Deregulation Commerciali-zation

Sug

arbe

et

Glyphosate Tolerance

Virus Resistance

Winter Beet

Yield Genes

Cor

n

Glyphosate Tolerance

Glyphosate Tolerance+ Insect Resistance

Drought Tolerance

Nitrogen Use Efficiency

Whe

at

Fungal Resistance

Pota

to

Fungal Resistance

First GENECTIVE trait successfully deregulated in the USA


http://www.genective.com/

http://www.genective.com/

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Employees

Employees by function*

Production23.4%

Distribution25.6%

R&D37.9%

Administration13.1%

*on average for the year

Employees by function*

2013/2014 2012/2013 +/-

R&D 1,836 1,768 3.8%

Distribution 1,241 1,132 9.6%

Production 1,136 956 18.8%

Administration 634 587 8.0%

Total 4,847 4,443 9.1%


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Capital expenditureStrengthening of growth markets

Capital expenditure in € mn

5849

112

65

83

09/10 10/11 11/12 12/13 13/14

Planned capital expenditure in FY 2014/2015: ca. €138 mn


New corn processing plant in Serbia

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Sales Outlook 2014/15

Corn Sugarbeet Cereals KWS Group

In €mn

Net sales 2013/14

Net sales forecast 2014/15

Corporate

778 e

362 e

112 e

714,9

351,1

107,3

1.1781.255 e

4,7 4 e


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EBIT-Outlook 2014/15

Corn Sugarbeet Cereals KWS Group

In €mn

EBIT 2013/14

EBIT forecast 2014/15

Corporate

100,9

70,1

17,1

138,4

88 e77 e

14 e

125 e

-49,7 -55 e


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The Executive Board

Dr. Peter Hofmann (1960)• Member of the Executive Board since October 1, 2014• Responsibility: Sugarbeet, Cereals, Marketing• Ph.D. in Seed Physiology

Dr. Léon Broers (1960)• Member of the Executive Board since 2007• Responsibility: Research & Breeding• Ph.D. in Plant Breeding; Master of Business Administration

Dr. Hagen Duenbostel (1970)• CEO/ Member of the Executive Board since 2003 • Responsibility: Corn, Investor Relations• Degree in Business Administration; Dr. rer. pol.


Eva Kienle (1967)• Member of the Executive Board since 2013• Responsibility: Finance, Controlling, Global Services, Legal, IT, HR• Degree in Business Administration

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The KWS share

56.1%Families Büchting

Arend OetkerGiesecke

15.1%TessnerBeteiligungs GmbH

28.8%Free float

Shareholder structure

No. of shares: 6,600,000

Key figures per February 23, 2015 (Xetra)

Closing call: €271,50Market Cap.: €1.79 bnFree Float Market Cap.: €515 mn52 weeks high/low: €283.69/€249.56

WKN: 707400ISIN: DE0007074007Symbol: KWS


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Financial calendar

May 27, 2015 3rd Quarter Report 2014/2015

October 15, 2015

Full year results 2014/2015,Annual press conference in Frankfurt,Analyst conference in Frankfurt

December 17, 2015 Annual Shareholders' Meeting in Einbeck


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Disclaimer

These materials are not an offer for sale of Subscription rights or Securities in the United States. Subscription rights and

Securities may not be offered or sold in the United States without registration or an exemption from registration under

the U.S Securities Act of 1993, as amended. KWS SAAT AG does not intend to register any portion of the offering in the

United States or to conduct a public offering in the United States or to conduct a public offering of Subscription rights or

Securities in the United States.

This document contains certain forward-looking statements relating to the business, financial performance and results

of KWS SAAT AG and/or its subsidiaries and/or the industry in which KWS SAAT AG and its subsidiaries operate. These

forward-looking statements are based on KWS’ current plans, estimates, projections and expectations. These

statements are based on certain assumptions that, although reasonable at this time, may prove to be erroneous.

Prospective investors should not place undue reliance on these forward-looking statements.

If certain risks and uncertainties materialize, or if certain underlying assumptions prove incorrect, events described in

this document as anticipated, believed, estimated or expected may not occur, and KWS SAAT AG may not be able to

achieve its financial targets and strategic objectives. This presentation should not be viewed as definitive legal, tax, or

other advice regarding investment. All interested investors should seek independent third party legal, tax, and other

advice.

KWS SAAT AG does not intend, and does not assume any obligations, to update industry information or forward-looking

statements set forth in this document. KWS SAAT AG assumes no responsibility or liability in regard to the

completeness of the contents and the accuracy of opinions, estimates, prognoses, calculations, or other information

contained in this presentation. This presentation may contain confidential information. Neither the presentation nor any

of its contents may be reproduced or otherwise made available to third parties.


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IR Contact

Georg Folttmann

Head of Investor Relations+49 5561 [email protected]

KWS SAAT AGGrimsehlstr. 31D-37555 Einbeck


Documents

KWS Investor Presentation February 2015