Slides
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Analyst & Investor Call FY 2025/26 Dr. Jörn Andreas (CFO)
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Cautionary statements regarding forward-looking information September 23, 2026KWS SAAT SE & Co. KGaA - FY 2025/20262 This document contains certain forward-looking statements relating to the business, financial performance and results of KWS SAAT SE & Co. KGaA and/or its subsidiaries and/or the industry in which KWS SAAT SE & Co. KGaA 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 SE & Co. KGaA 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 SE & Co. KGaA does not intend, and does not assume any obligations, to update industry information or forward- looking statements set forth in this document. KWS SAAT SE & Co. KGaA 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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FY 2025/2026: Group performance overview* KWS SAAT SE & Co. KGaA - FY 2025/20263 September 23, 2026 Net debt (€ m) 8.7 (61.6) Further significant reduction, exceptional financial strength Free cashflow (€ m) 122.5 (123.2) Lower opCF offset by inflow from Corn divestiture and lower capex Gross margin (%) 61.2 (63.1) Change in product mix / negative FX impact Net sales (€ m) 1,627 (1,677) -1.0 % organic growth; FX: -1.0 %; portfolio: -1.0 % EBITDA (€ m) 343.1 (350.5) Impacted by one-time effects and FX; EBITDA margin: 21.1 % (adj.: 19.3%) Net income (€ m) 158.4 (140.0) Increase driven by improved financial result *continuing business activities
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Robust performance against headwinds September 23, 2026KWS SAAT SE & Co. KGaA - FY 2025/20264 KPI Targets Results Organic sales growth +3% Original outlook; revised to ~0% -1.0% Below both original and revised outlook; market/acreage headwinds EBITDA margin 19–21% Before one-time effect from Corn license sale 19.3% In line with target range; adj. for FX effects: 20.0% License sale (one-time effect) ~€30m Not included in EBITDA margin guidance +€29m In line with expected amount; Corn portfolio alignment completed Dividend Stable or rising 25–30% of adjusted net income €1.30 prior year €1.25; payout ratio: ~29%
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Net sales in € m FY 24/25 Organic Currency Portfolio FY 25/26 Comment Organic sales: On previous year‘s level despite significant acreage reductions in Sugarbeet and Corn Currency: Decrease mainly due to USD, TRL, UAH; includes hyperinflation effect TRL (IAS 29) Portfolio: Absence of cost charging to former JV AgReliant (R&D services) in prior years Sales development impacted by various adverse factors 1,677 1,627 KWS SAAT SE & Co. KGaA - FY 2025/20265 September 23, 2026 -1.0 %-1.0 %-1.0 % -3.0 %
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Income statement includes significant one-time effects September 23, 2026KWS SAAT SE & Co. KGaA - FY 2025/20266 FY 2024/25 FY 2025/26 Δ% yoy EBITDA 350.5 343.1 -2.1 Thereof: Sale of Corn licenses - +29.0 Thereof: Reversal of VAT provision +7.7 - Financial result -35.4 +1.1 >100 Net interest result -6.3 -6.0 Net FX effect on financing instruments +4.6 -2.9 At equity accounted fin. assets -33.7 +10.0 Thereof: Items related to AgReliant divest. -20.7 +10.0 Net income 140.0 158.4 +13.1 Earnings per share 4.24 4.80 +13.1 Comment EBITDA: impacted by one-time items in CY and PY; includes ~€14m negative FX effect in CY Financial result: significantly improved, helped by one-time effect from deconsolidation of Agreliant JV Net income/EPS: clearly improved by 13%; driven by positive one-time effects in EBITDA and financial result
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Sales development Segment performance Moderate sales decline against acreage decrease of ~10 % Success of innovative product portfolio (CONVISO SMART, CR+) continued Innovations represent 63 (61)% of total segment sales EBITDA margin remained at high level (42%), despite negative FX impact of ~€12m Prior-year EBITDA included a positive one-off effect of €8m (reversal of VAT provision) Sugarbeet segment KWS SAAT SE & Co. KGaA - FY 2025/20267 Sugarbeet FY 2024/25 Organic Currency FY 2025/26 FY 2024/25 FY 2025/26 Δ% yoy Sales (€ m) 871.8 854.2 -2.0 EBITDA (€ m) 397.0 358.1 -9.8 EBITDA (%) 45.5 41.9 - 872 854 September 23, 2026 -2.0 % -1.4 %-0.6 %
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Sales development Segment performance Organic sales development reflect lower acreage across markets Excluding Russia, comparable growth was at 2% Market share gains in European corn*: Silage: 16.8 (15.9)% Grain: 9.7 (8.4)% Sunflower sales up by 35% EBITDA includes positive one-off effect of €29m from the disposal of license rights for North American corn business Underlying EBITDA margin of 14.6 (11.5)% clearly improved Corn segment September 23, 2026KWS SAAT SE & Co. KGaA - FY 2025/20268 FY 2024/25 Organic Portfolio Currency FY 2025/26 FY 2024/25 FY 2025/26 Δ% yoy Sales (€ m) 458.1 433.6 -5.3 EBITDA (€ m) 52.7 92.2 +74.9 EBITDA (%) 11.5 21.3 - 458 434 Corn -5.3 % -3.1 %-1.6 % -0.4 % *KWS estimates, excl. RUS
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Sales development Segment performance Moderate organic growth, driven by strong rapeseed sales (+24%) Rapeseed market share climbed to 17 (15)%, reinforcing #2 market position in Europe Other crops: Rye (-13%), Wheat (-2%) and Barley (-9%) due to commodity weaknesses EBITDA negatively influenced by €5m provision related to antitrust investigation in France Cereals segment KWS SAAT SE & Co. KGaA - FY 2025/20269 FY 2024/25 Organic Currency FY 2025/26 FY 2024/25 FY 2025/26 Δ% yoy Sales (€ m) 263.3 263.9 +0.2 EBITDA (€ m) 42.9 34.6 -19.3 EBITDA (%) 16.3 13.1 - 263 264 September 23, 2026 Cereals +0.2 %+0.6 % -0.4 %
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Sales development Segment performance Sales development in main crop Spinach was impacted by lower demand, phasing effects and high comparison base (China) Beans sales decreased 2% slightly, primarily in Europe Significant investments in breeding of new crops and infrastructure continued Breeding pipeline strongly expanded and matured, providing for a comprehensive launch program in the mid-term Vegetables segment KWS SAAT SE & Co. KGaA - FY 2025/202610 FY 2024/25 Organic Currency FY 2025/26 FY 2024/25 FY 2025/26 Δ% yoy Sales (€ m) 72.1 67.5 -6.4 EBITDA (€ m) -22.0 -25.8 -- EBITDA (%) - - 72 68 September 23, 2026 Vegetables -6.4%-6.8 % +0.4%
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Cashflows (Continuing Business) in € m Stable free cashflow Source: SAP February 2024 11 KWS SAAT SE & Co. KGaA - FY 2025/2026 September 23, 2026 Key developments Free cashflow reached high level of previous year Operating cashflow significantly lower due to increase in NWC and lower EBITDA (both due to lower-than-expected sales volume) Investing cashflow includes first payment tranche for sale of AgReliant shares Capital expenditures moderately below prior year due to project phasing Operating cashflow Investing cashflow Free cashflow 2025/2026 2024/2025 228 173 -105 -50 123 123
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Net debt development in € m Net debt down to 0.03x EBITDA 62 144 33 109 18 Net Debt FY 24/25 EBITDA NWC Tax & Interest Capex Proceeds from M&A Net Debt FY 25/26 43 KWS SAAT SE & Co. KGaA - FY 2025/202612 September 23, 2026 314 277 Key developments Net debt signficantly improved to € 9m Operating performance of continuing business activities (EBITDA) and proceeds from M&A are main drivers of improvement Increase in Net working capital driven by higher inventories due to lower-than-planned sales volumes and timing effects. Lease payments 9
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Dividend policy continued – increase to € 1.30 proposed Dividend KWS is committed to long-term dividend contininuity Increase to € 1.30 per share is reflective of business performance in FY 2025/26 Payout ratio of ~29% in line with elevated guidance as of last year („25-30% of adjusted net income“) Dividend proposal is subject to AGM resolution on December 1, 2026 Dividend development in € per share 0.70 € 0.80 € 0.80 € 0.90 € 1.00 € 1.25 € 19/20 20/21 21/22 22/23 23/24 24/25 25/26 September 23, 2026KWS SAAT SE & Co. KGaA - FY 2025/202613 1.30 €
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September 23, 2026KWS SAAT SE & Co. KGaA - FY 2025/202614 Forecast 2026/2027: moderate growth at sustained profitability Forecast FY 2026/2027 Organic sales growth ~3% In line with mid-term growth target of 3-5 % Reflecting uncertainties and volatility of agricultural markets In line with mid-term financial ambition of 19-21 % EBITDA margin Continued high investments in R&D 19 – 20%EBITDA margin
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KWS Vegetables Investor & Analyst Seminar 29th September 2026 Andijk (NL) Full-day program with KWS management team Field & site tours at our Vegetables headquarters
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Analyst & Investor Call FY 2025/26 Q&A session