K+S : Publication of the manuscript speech - Dr. Burkhard Lohr

Annual General Meeting of the K+S Aktiengesellschaft on May 14, 2024

Essential content of the speech by the

Chairman of the Board of Executive Directors, Dr. Burkhard Lohr

Pre-publication on May 7, 2024, on www.kpluss.com

- The spoken German word applies -

Page 2 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

Dear Shareholders,

Dear Shareholder Representatives,

Ladies and Gentlemen!

On behalf of the entire Board of Executive Directors, I would like to welcome you to the Annual General Meeting of your K+S. We kindly thank you for accepting our invitation.

Christina Daske, our Labor Director, has been contributing her expertise to the joint work of the Board of Executive Directors since December last year. She comes from our own ranks and is on this stage for the first time today.

We look forward to the cooperation in the Board of Executive Directors team!

Ladies and Gentlemen,

The crises and upheavals in the world have continued since our last Annual General Meeting:

The Russian war of aggression in Ukraine is still raging. Another conflict has arisen in the Middle East.

Cost increases, losses in global growth, and disruptions to supply chains are constantly challenging us.

The price decline for agricultural products and potash following the record levels of 2022 was an additional factor.

And last but not least, our competitors from Russia and Belarus are increasingly returning to the market outside Europe and North America.

Page 3 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

Our colleagues have mastered these challenges with heart and passion. Underground, in the factory, on site at the customers, in logistics and marketing through to administration.

Our dedicated teams are committed to the success of K+S every day.

It is our common goal to reliably supply our customers in agriculture and industry!

• In line with demand.
• In the best quality.
• With high flexibility.
• And always cost-conscious!

On behalf of the Board of Executive Directors, but certainly also on your behalf, I would like to thank everyone for their hard work over the past year.

Together, we have achieved solid results!

Page 4 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

Together, we ensure nutrition, health, and safety!

Following the record year 2022, we generated EBITDA of 712 million euros.

This is a decent annual result, even if the initially expected earnings corridor was not achieved.

The adjusted free cash flow amounted to a good 311 million euros in the year under review.

This demonstrates the robust position of K+S today!

Page 5 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

In the Agriculture customer segment, our business was initially characterized by purchasing restraint. This had a negative impact on prices for fertilizer products.

Following the conclusion of a contract with a competitor in China, price pressure increased in Brazil and spread into other sales regions. The subsequent price recovery could not offset this development.

Overall, revenues in the Agriculture customer segment declined to 2.7 billion euros.

Page 6 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

The situation was different in the Industry+ customer segment: At around 1.2 billion euros, revenues here almost reached the previous year's level.

This success clearly demonstrates that our products are an indispensable part of industrial value creation. In the production of pharmaceuticals, glass, plastics, and textiles. Our raw materials and primary products keep industries running.

K+S, therefore, comes across you consciously or unconsciously every day. We are all around! We ensure safety and growth. From domestic deposits. Without dependencies from abroad! Today, this is more important than ever!

Page 7 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

Ladies and Gentlemen,

The rating agency Standard & Poor's already recognized our significant debt reduction and our forward-looking financial policy in June 2023.

Since then, K+S has been rated investment grade again. We are very pleased to have reached this strategic milestone. We have been working towards this for several years!

K+S successfully completed the share buyback in November and subsequently canceled the shares. Together with the dividend payment in 2022, we have returned capital of around 400 million euros to you, our shareholders.

Page 8 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

D	r	u o	ra		o	o	h
a	ua ad u d r	a h o		ra d
D	d	d	ro o a	orr	o d	o	o
		o h	ad u	d r	a h	o

Dear Shareholders,

Our proposal for the appropriation of profits for the 2023 financial year is in line with our new distribution policy: We want to return 30 to 50 percent of the adjusted free cash flow to you.

The Board of Executive Directors and Supervisory Board will propose a dividend of 70 cents per share to the Annual General Meeting. This would return capital of around 125 million euros to you. This corresponds to 40 percent of the free cash flow generated.

Our proposal also takes into account the maintenance of a strong balance sheet as well as the expected business development, including future investments.

Page 9 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

Ladies and Gentlemen, let's talk about strategy:

We want to optimize our existing business, further develop our core business, and establish new business areas.

The optimization of our existing business comprises two major projects:

• The transformation of our Werra integrated plant and
• the ramp-up of our Canadian plant in Bethune.

This is currently our strategic focus.

Page 10 of 17 "Annual General Meeting of K+S Aktiengesellschaft on May 14, 2024 - Pre-publication of the essential content of the speech by the Chairman of the Board of Executive Directors, Dr. Burkhard Lohr" on May 7, 2024

The Werra integrated plant accounts for around 45 percent of our European production. Every year, we extract more than 20 million tonnes of crude salt there. 4,600 colleagues, including around 300 young trainees, work here.

The measures to transform the plant will now extend the life of all sites in the Werra-Ulster potash district until 2060.

In detail: We are converting the factories in Wintershall and Unterbreizbach to dry processing and refining. We are using ESTA technology, which we have developed in- house.

At the same time, we are introducing proven secondary mining on pillars in the mine. As a result, we are increasing the proportion of our specialty product Korn-Kali in our portfolio, which requires fewer process steps.