Forecast K+S Aktiengesellschaft

Today, the Board of Executive Directors of K+S Aktiengesellschaft raised its outlook for operating EBITDA for the full year 2021 to around EUR 630 million once again (previously: EUR 500 million to EUR 600 million, excluding REKS one-off gain of about EUR 200 million). This is mainly attributable to the further improvement in expectations for the development of average prices in the Agriculture customer segment in 2021 as a whole. Against this backdrop, K+S expects free cash flow in 2021 to break even (previously: EUR -180 million, excluding REKS cash inflow).

After the EU Commission referred the antitrust clearance procedure to the Federal Cartel Office, the review of the REKS transaction is still ongoing. K+S continues to expect that a release can be granted, but that it will maybe not take place in 2021 as previously assumed. Against this background, we only include the operating business in our outlook for 2021.

The Company will publish its Q3 financial results and full-year outlook for 2021 on November 11, 2021.