Dividend / Share buyback

• Dividend proposal: EUR 1.00 per share or EUR 191.4 million
• Share buyback of up to EUR 200 million after the Annual General Meeting on 
  May 10, 2023
• 2022 financial year (according to outlook and consensus estimate):  
  EBITDA: EUR 2.4 billion
  Adjusted free cash flow before special effects: EUR 1.2 billion
• 2023 outlook:                                                                             
  EBITDA: EUR 1.3 to 1.5 billion (Vara consensus estimate: EUR 1.49 billion) 
  Adjusted free cash flow: EUR 700 to EUR 900 million 
  (Vara consensus estimate: EUR 820 million)

The Board of Executive Directors of K+S Aktiengesellschaft has adopted the following resolutions with the approval of the Supervisory Board:

• The Board of Executive Directors and the Supervisory Board will propose to the Annual General Meeting on May 10, 2023 a dividend for the 2022 financial year of EUR 1.00 per share (total dividend distribution: EUR 191.4 million; previous year: EUR 0.20 per share; total dividend distribution: EUR 38.3 million).

• After the Annual General Meeting on May 10, 2023, the Company intends to start 
buying back own shares amounting to up to EUR 200 million, i.e., about 5% 
of the share capital (based on the closing price on March 13, 2023), until the 
end of February 2024 at the latest and subsequently cancel them.

K+S will, therefore, return capital of up to EUR 391.4 million or about EUR 2 per share, respectively (Vara consensus estimate as of January 31, 2023 for “Distribution to shareholders”: EUR 1.50 per share) to shareholders, which is more than 40% of the adjusted free cash flow generated. 

For classification of the decision, the most important key figures for the 2022 financial year as well as the 2023 outlook are published herewith in advance: 

EBITDA in the 2022 financial year reached EUR 2,422.9 million (previous outlook: EUR 2.4 billion; Vara consensus estimate as of January 31, 2023: EUR 2,398.4 million), and adjusted free cash flow before special effects reached EUR 1,163.5 million. After taking into account the full repayment of the factoring program and the purchase of CO2 certificates, adjusted free cash flow amounted to EUR 932.0 million (previous outlook: approximately EUR 1 billion; Vara consensus estimate as of January 31, 2023: EUR 947.8 million). The net asset position as of December 31, 2022 amounted to EUR 244.9 million.

For the 2023 financial year, the K+S Group expects EBITDA to range between EUR 1.3 billion and EUR 1.5 billion (Vara consensus estimate as of January 31, 2023: EUR 1,492.8 million). Adjusted free cash flow is forecast between EUR 700 million and EUR 900 million (Vara consensus estimate as of January 31, 2023: EUR 820.0 million).

The Company will publish the 2022 Annual Report on March 15, 2023.