Analyst Conference May 15, Dr. Wolfgang Heer (CEO), Thomas Kölbl (CFO)

Analyst Conference May 15, 2012 Dr. Wolfgang Heer (CEO), Thomas Kölbl (CFO)

Analyst Conference May 15, 2012 Dr. Wolfgang Heer (CEO)

Agenda 1. Overview and strategic objectives page 4 2. Financial Highlights page 19 3. Annual Financial Statement 2011/12 page 24 4. Development of Segments Sugar page 36 Special Products page 41 CropEnergies page 45 Fruit page 49 5. Outlook page 54 6. Appendix Long-term development and key figures page 58 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 3

Financial Year 2011/12: Overview New revenues record of 7.0 (6.2) bn Significant increase in operating profit by 44 % to 751 mn, mainly driven by segment sugar Further reduction in net financial debt to 791 (854) mn Revenues mn 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0,000 Operating Profit mn 800 700 600 500 400 300 200 100 0 ROCE 13.2 (9.8) % Revenues Operating Profit Proposal: Increase in dividend from 55 to 70 eurocent/share Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 4

Segment Sugar About 15% of European sugar demand has to be covered by imports Sugar world market price temporarily above European price level EU-Commission takes action to secure supply within EU Price adjustment for industrial and retail customers Segmental revenues and earnings take benefit of higher price level: Revenues: 3.7 (3.3) bn Operating Profit: 511 (285) mn Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 5

Segment Sugar: Record Campaign 2011/12 Campaign start September 6, 2011 in Belgium; processing in Silesia until Feburary 5, 2012 Campaign length ( ): 123 (103) days 29 sugar factories, 3 refineries Beet processing: 31.3 (26.1) mn t Sugar production (incl. refining): 5.4 (4.2) mn t Close meshed logistic network throughout the EU enables reliable and flexible delivery Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 6

Segment Sugar: ED&F Man Transaction: Purchase of 25 % - 1 share (Kapitalerhöhung) EU-merger control procedure > 3,400 employees in 60 countries Private, employee owned company Revenues 2010/11: 10 bn USD Operations: Sugar: 8.8 mn t trading volume as well as participations in production and refining capacities Marketing of coffee and molasses Trading in biofuels, edible oils as well as shipping and financial services Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 7

Segment Sugar: EU sugar policy European sugar policy beyond 2015 under discussion Necessity of adequate EU self-supply Requirement: Retention of sustainable beet and sugar production in the EU Continuation of current political sugar instruments until 2020 Ongoing negotiations between EU agricultural council, Commission and EU parliament No result expected till mid of 2013 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 8

Segment Special Products: Division BENEO Production and marketing of food ingredients with nutritional physiological and technological advantages as well as ingredients for pet nutrition Successful claim of market position EFSA confirms health claims for Isomalt and Palatinose TM Prebiotic reward for Inulin und Oligofructose no longer valid Ongoing strong demand for rice starches Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 9

Segment Special Products: Division Freiberger International producer of deep frozen and chilled pizza, pasta and snacks Business development strongly influenced by strong increase in raw material costs Extension of market position within British market through newly conceived site in Westhoughton (UK) US market addressed via distribution business in the USA expected enlargement of private label market share Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 10

Segment Special Products: Division PortionPack Development, packaging and marketing of portion packs, especially in the food service industry Financial Year 2011/12 influenced by high raw material costs and increased competition Successful integration of pre-year acquisition Union Edel Chocolade within PortionPack-Group Implementation of measures to optimize factory structure Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 11

Segment Special Products : Division Starch Bundling of starch and bioethanol activities in Austria, Hungary and Romania Higher selling prices lead to significant increase in revenues and earnings Optimziation of bioethanol production in light of planned E10 introduction in Austria in autumn 2012 Installation of wheat starch factory in Pischelsdorf as add-on to bioethanol site to enlarge starch product range Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 12

Segment CropEnergies (I) Production of sustainably produced bioethanol in Europe, food and animal feed as well as liquid CO 2 Production capacity: 700,000 m³ bioethanol p. a. 500,000 t food and animal feed p. a. 100.000 t CO 2 in food quality p.a. Significant increase in revenues to 529 (437) mn Operating profit reaches record level with 53 (46) mn Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 13

Segment CropEnergies (II) Marketing focus: Promotion of market introduction of E10 Developoment of Belgian bioethanol market Consolidation of Eastern European market position Establishment of US distribution business Ongoing optimization of current production technics and development of innovative concepts for bioethanol factories Exploration of alternative usage of bioethanol to exploit new markets Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 14

Segment Fruit World market leader in fruit preparations in diary, baking and ice cream industry Volume decrease driven by competition Raw material price increase not fully passed on Launch of two new factories in Egypt and South Africa Higher efficiency and higher ultilization targeted European market leader in fruit juice concentrates Divestiture of Chinese JV contracts Complete buyout of Xianyang factory in globally largest apple cultivation area Significant increase in revenues despite decrease in volume Foundation of JV with Ybbstaler to strengthen power in this division Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 15

Strategic Positioning The four segments of Südzucker Group build a solid and stable fundament Quick and flexible reaction to changing environment Alignment to traditional values: Sugar Special Products Crop Energies Fruit Reliability Consistency Südzucker-Group Face challenges with flexibility Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 16

Analyst Conference May 15, 2012 Thomas Kölbl (CFO)

Targets achieved again 2010/11 2011/12 Revenues 6.2 bn 7.0 bn Operating Profit 521 mn 751 mn Net profit 346 mn 515 mn Earnings per share 1.33 1.99 Dividend per share 0.55 0.70 * * Proposal Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 19

Growth driver sugar segment 2010/11 2011/12 Sugar 285 mn 511 mn Operating Profit Special Products CropEnergies Fruit 144 mn 46 mn 46 mn 149 mn 53 mn 38 mn Group 521 mn 751 mn Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 20

Cash flow strength widens financial headroom 2010/11 2011/12 Investments* 245 mn 276 mn Cash flow 606 mn 823 mn Net Financial Debt 854 mn 791 mn Liquidity ~2.2 bn ~2.2 bn *excl. investments in financial assets Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 21

Group Key Figures further improved (mn ) 2011/12 2010/11 2009/10 2008/09 Revenues 6.992 6.161 5.718 5.871 EBITDA 1.015 775 645 489 EBITDA-Margin 14,5% 12,6% 11,3% 8,3% Operating profit 751 521 403 258 Operating Margin 10,7% 8,5% 7,0% 4,4% Restructuring and special items 8-8 -10 87 Income from operations (EBIT) 759 513 392 345 Cash flow 823 606 553 504 Net Financial Debt 791 854 1.065 1.632 Equity Ratio 47,9% 50,8% 46,5% 41,9% Investments 286 251 233 424 Capital Employed 5.707 5.314 5.374 4.923 RoCE 13,2% 9,8% 7,5% 5,2% Earnings per share ( ) 1,99 1,33 1,06 0,86 Cashflow per share ( ) 4,35 3,20 2,92 2,66 Dividend per share ( ) * 0,70 0,55 0,45 0,40 * Proposal Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 22

Dynamic revenue development (mn ) +831 mn (+14%) +449 (+14%) +231 (+15%) Special Products +92 (+21%) Crop Energies +59 (+7%) Fruit 6,992 7000 6800 6600 6400 6200 Sugar 6000 6,161 5800 2010/11 2011/12 5600 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 24

Overproportionate operating profit development (mn ) +230 mn (+44%) +5 (+4%) +7 (+16%) -8 (-18%) Special Products Crop Energies Fruit 700 +226 (+79%) 600 Sugar 751 500 521 400 300 2010/11 2011/12 200 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 25

Earnings before income taxes (mn ) 2011/12 2010/11 Operating profit 751 521 230 Restructuring & special items 8-8 16 Income from operations (EBIT) 759 513 246 Income from companies consolidated at equity 1 4-3 Financial result -100-74 -26 Earnings before income taxes 660 443 217 Financial result: Increase in interest expenses was mainly due to an increase in gross financial debt following the placement of the 400 mn bond 2011/18 in March 2011, the purpose of which was an early refinancing of the 500 mn bond 2002/12 maturing in February 2012. Other financial expense went from -1 mn to -19 mn. This decline was primarily due to lower market values of interest-rate derivatives and the termination of interest-rate swaps due to the early repayment of the variable portion of the promissory note. Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 26

Earnings per share follows good operating development (mn ) 2011/12 2010/11 Earnings before income taxes 660 443 217 Taxes on income -145-97 -48 Consolidated net earnings 515 346 169 thereof Südzucker AG shareholders 377 252 125 thereof hybrid capital 26 26 0 thereof other minority interest 112 68 44 Earnings per share ( ) 1,99 1,33 0,66 Group tax rate again came in at 22 %. Other minority interests of 112 mn relate mainly to minority shareholders of the AGRANA Group and CropEnergies. Dividend proposal: 0.70 (0.50) /share Amount distributed: 133 (104) mn Payout ratio: 35 (41) % Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 27

Investments still on depreciation level (mn ) 2011/12 2010/11 2011/12 Fixed Assets 276 245 31 Depreciation 264 Sugar 145 125 20 Sugar 115 Special Products 74 67 7 Special Products 82 CropEnergies 14 22-8 CropEnergies 31 Fruit 43 31 12 Fruit 36 Financial Assets 10 6 4 Sugar 3 5-2 Special Products 0 1-1 CropEnergies 0 0 0 Fruit 7 0 7 Südzucker Group 286 251 35 Projected fixed asset investments of ~ 300 mn achieved. Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 28

Further reduction in Net Financial Debt (mn ) Mainly due to volume and price driven increase of inventories especially in segment sugar Maintenance capex in established capacities 1,632 1,065-306 Working Capital -286 Investments -168 Dividends 823 Cash flow 854 791 NFD 28.02.2009 NFD 28.02.2010 NFD 28.02.2011 NFD 29.02.2012 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 29

Solid balance sheet ratios (mn ) 29.02.2012 28.02.2011 28.02.2010 28.02.2009 Total assets 8.289 7.260 7.398 7.709 Equity 3.969 3.687 3.443 3.230 Equity ratio 47,9% 50,8% 46,5% 41,9% Net Financial Debt (NFD) 791 854 1.065 1.632 Gearing (NFD/Equity) 19,9% 23,2% 30,9% 50,5% Cash flow 823 606 553 504 NFD/Cash flow 1,0x 1,4x 1,9x 3,2x Goodwill 1.141 1.131 1.132 1.124 Fixed assets* 2.605 2.612 2.609 2.626 Working Capital 1.848 1.451 1.512 1.323 ** Capital Employed 5.707 5.314 5.374 4.923 RoCE 13,2% 9,8% 7,5% 5,2% * Including intangible assets **Adjustment segment fruit: Goodwill book value redirected to participation level of parent company Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 30

Comfortable liquidity position (mn ) 29.02.2012 28.02.2011 28.02.2010 28.02.2009 Net financial debt -791-854 -1.065-1.632 Cash & cash equivalents / securities 715 506 695 413 Gross financial debt -1.505-1.360-1.760-2.046 Long-term financial debt -931-548 -1.120-1.154 Short-term financial debt -574-812 -640-892 Bank credit lines: 1.103 1.029 1.234 1.421 undrawn 411 480 558 511 Syndicated loan facility (July 2012) 600 600 600 600 undrawn 600 600 600 330 Commercial paper program 600 600 600 600 undrawn 450 600 600 486 = Total liquidity reserves 2.175 2.186 2.452 1.740 Successful placement of Agrana promissory note in April 2012; 110 mn, maturity 5, 7 and 10 years Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 31

Financing maturity profile further improved* (mn ) 700 500 February 283 400 EUR-Bond Hybrid 45 45 58 2012 2013 2014 2015 2016 2017 2018 2019 600 mn Commercial Paper Programm (perpetual) Promissory Note Convertible Bond 600 mn Syndicated Loan * Displayed to 2019; 10-year tranche of Agrana promissory note in the amount of 7 mn due in 2022 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 32

Rating ratios improved Rating agency Long-term rating Short-term rating BBB * Stable outlook** A 2* *** Baa 1 Stable outlook P - 2 2008/09 2009/10 2010/11 2011/12 Net Financial Debt/ Cash flow 3.2x 1.9x 1.4x 1.0x * since May 2007 ** since September 30, 2010 *** since January 31, 2012 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 33

Targets achieved again in 2011/12 Outlook 2011/12 Reported 2011/12 Revenues ~6.8 bn 7.0 bn Operating Profit ~750 mn 751 mn Investments* ~300 mn 276 mn Net Financial Debt ~850 950 mn ** deutliche 791 mn Ergebniserholung * excl. investments in financial assets ** original target incl. participation in ED&F Man Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 34

Segment Sugar: Development 2011/12 (I) (mn ) 2011/12 2010/11 2009/10 2008/09 Revenues 3.728 3.279 3.154 3.320 EBITDA 626 399 331 255 EBITDA-Margin 16,8% 12,2% 10,5% 7,7% Operating profit 511 285 217 137 Operating Margin 13,7% 8,7% 6,9% 4,1% Restructuring and special items 14-3 -16 102 Income from operations (EBIT) 525 282 201 239 Investments 148 130 115 149 Fixed Assets 145 125 106 123 Financial Assets 3 5 9 26 Capital Employed 2.984 2.748 2.890 2.736 RoCE 17,1% 10,4% 7,5% 5,0% Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 36

Segment Sugar: Development 2011/12 (II) Revenues (mn ) Operating profit (mn ) 3,279 3,728 285 511 2010/11 2011/12 2010/11 2011/12 Increase in revenues due to world market price driven higher sales revenues for quota and non-quota sugar Volume below prior year level World market price driven increase in quota sugar sales revenues higher than raw material cost hike World market price driven increase in nonquota sugar sales revenues compensates for lower volumes Others Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 37

Participation in ED&F Man at a glance Key Figures 2010/11* Transaction overview Total sales 14.5 mn t Revenues 10 bn USD Profit from ordinary activities 192 mn USD Net Profit 76 mn USD Equity 683 mn USD > 3,400 employees in around 60 countries Private, employee owned company Purchase 25% - 1 share via capital increase Purchase price 255 mn USD At equity accounting Pro rata earnings contribution in 2012/13 dependent on closing date *Financial Year ended 30.09.2011 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 38

Segment Sugar: Outlook 2012/13 Revenues Higher non-quota sugar volume in light of strong campaign 2011 Possibility to market non-quota sugar of campaign 2011 in EU food market again Increase in revenues Operating Profit Stable EU price environment under precondition of ongoing balanced market and high world market prices Besides stable quota sugar business increase in non-quota sugar volume in light of strong campaign 2011 Further increase in operating profit Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 39

Segment Special Products: Development 2011/12 (I) (mn ) 2011/12 2010/11 2009/10 2008/09 Revenues 1.806 1.575 1.396 1.427 EBITDA 231 218 209 172 EBITDA-Margin 12,8% 13,8% 14,9% 12,1% Operating profit 149 144 138 108 Operating Margin 8,3% 9,1% 9,8% 7,6% Restructuring and special items -4-6 12-4 Income from operations (EBIT) 145 138 150 104 Investments 74 68 58 62 Fixed Assets 74 67 50 60 Financial Assets 0 1 8 2 Capital Employed 1.392 1.335 1.309 1.287 RoCE 10,7% 10,8% 10,5% 8,4% Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 41

Segment Special Products: Development 2011/12 (II) Revenues (mn ) Operating profit (mn ) 1,806 144 149 1,575 2010/11 2011/12 2010/11 2011/12 High volume level reached Revenue increase due to pass on of raw material price hike Starch (incl. AGRANA bioethanol) Significant increase in earnings due to sales revenues increase exceeding raw material cost increase High volume level Others: Limited market pass on of raw material cost increase High volume level Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 42

Segment Special Products: Outlook 2012/13 Revenues Division starch with slightly lower revenue contribution, all other divisions with revenue increase Moderate increase in revenues Operating Profit Confirmation of high pre-year level. Volume increase at divisions Freiberger, Beneo and PortionPack to partially compensate for realized raw material price increase. Following an exceptional strong year, division starch expected with lower earnings contribution Operating profit on prior year s level Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 43

Segment CropEnergies: Development 2011/12 (I) (mn ) 2011/12 2010/11 2009/10 2008/09 Revenues 529 437 362 319 EBITDA 84 76 33 29 EBITDA-Margin 15,9% 17,5% 9,2% 9,0% Operating profit 53 46 12 18 Operating Margin 10,0% 10,5% 3,3% 5,7% Restructuring and special items -1 1-2 -11 Income from operations (EBIT) 52 47 10 7 Investments 14 22 34 171 Fixed Assets 14 22 34 170 Financial Assets 0 0 0 1 Capital Employed 519 530 525 221 RoCE 10,2% 8,7% 2,3% 8,2% Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 45

Segment CropEnergies: Development 2011/12 (II) Revenues (mn ) Operating profit (mn ) 53 437 529 46 2010/11 2011/12 2010/11 2011/12 Higher ethanol sales revenues Food and animal feed revenue increase due to higher volume and sales revenues Ethanol sales revenue increase higher than significant raw material cost hike Others Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 46

Segment CropEnergies: Outlook 2012/13 Revenues Higher production and sales volume of bioethanol as well as food and animal feed Further increase in revenues Operating Profit Recovery of European ethanol sales revenues expected following the clearance of subsidised ethanol imports from the US Earnings to tie with prior year s record level following a weaker start into the year Operating profit of more than 50 mn expected Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 47

Segment Fruit: Development 2011/12 (I) (mn ) 2011/12 2010/11 2009/10 2008/09 Revenues 929 870 806 805 EBITDA 74 81 72 33 EBITDA-Margin 7,9% 9,4% 8,9% 4,0% Operating profit 38 46 36-5 Operating Margin 4,1% 5,4% 4,4% neg. Restructuring and special items -1 0-4 0 Income from operations (EBIT) 37 46 32-5 Investments 50 31 26 42 Fixed Assets 43 31 26 31 Financial Assets 7 0 0 11 Capital Employed 812 702 650 679 RoCE 4,7% 6,7% 5,5% neg. Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 49

Segment Fruit: Development 2011/12 (II) Revenues (mn ) Operating profit (mn ) 870 929 46 38 2010/11 2011/12 Despite volume decrease, higher revenues mainly due to sales revenue uplift Fruit preparations (revenue share ~ 80%) Lower volumes Higher sales revenues not able to fully compensate for higher costs Fruit juice concentrates (revenue share ~ 20%) Lower volumes 2010/11 2011/12 Sales revenues more than compensate for higher costs Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 50

Joint venture Ybbstaler Agrana Juice GmbH at a glance Key data Transaction overview Production and distribution of fruit juice concentrates 14 production facilities Cumulative revenues approx. 350 mn p.a. AGRANA participated in JV with 50,01 % Fully consolidated by AGRANA Closing in Q2 of fiscal year 2012/13 expected Leading European market position Improved coverage of raw material areas with production facilities Balance between own production and merchandise Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 51

Segment Fruit: Outlook 2012/13 Revenues Revenue increase in division fruit preparations as well as in division fruit juice concentrates Increase in revenues Operating Profit Stabilization of achieved level in fruit juice concentrates and recovery of recent weak volume trend in fruit preparations during the course of the year Slight improvement in operating profit Ybbstaler The planned merger of division fruit juice concentrates with Ybbstaler Fruit Austria GmbH will lead to additional growth; execution is expected in the second quarter 2012/13 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 52

Outlook 2012/13 (I) Revenues 2011/12 2012/13e Operating Profit 2011/12 2012/13e Sugar 3.7 bn 511 mn Special Products 1.8 bn 149 mn CropEnergies 529 mn 53 mn > 50 mn Fruit 929 mn 38 mn Group 7.0 bn > 7.0 bn 751 mn > 800 mn Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 54

Outlook 2012/13 (II) 2011/12 2012/13e 212/13e EBITDA 1,015 mn Investments Fixed Assets 276 mn Investments Finan. Assets 1) 10 mn ~ 400 mn ED&F Man 255 mn USD Net Financial Debt 791 mn ~ 850 950 mn 2) RoCE 13.2 % 1) Closing dependent on approval of anti-trust authorities; deadline May 22, 2012 2) incl. ED&F Man; net financial debt in Q1 significantly above previous year s level Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 55

Summary Umsatz Financial Year 2011/12 Targets achieved again RoCE above 13% (9,8%) Further improvement in balance sheet and financing structure Significant increase in dividend from 55 to 70 eurocent/share Financial Year 2012/13 Further increase in revenues and earnings expected Net financial debt in Q1 significantly above prior year s level Consolidation of Ybbstaler in Q2 Increase in flexibility based on 25%-participation in ED&F Man Merger division fruit juice concentrates with Ybbstaler Wheat starch plant alongside existing bioethanol plant Solid investment grade rating Comfortable liquidity position Well balanced maturity profile Strong balance sheet ratios Significant higher cash flow level Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 56

Long-term development (I) Pre-Reform Transition Period Post-Transition Period Actual Actual Actual Actual Actual Actual Actual Actual Actual Outlook (mn ) 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13e Revenues 4.575 4.827 5.347 5.765 5.780 5.871 5.718 6.161 6.992 > 7.000 EBITDA 677 724 669 682 489 489 645 775 1.015 EBITDA-Margin 14,8% 15,0% 12,5% 11,8% 8,5% 8,3% 11,3% 12,6% 14,5% Operating profit 479 523 450 419 233 258 403 521 751 > 800 Operating Margin 10,5% 10,8% 8,4% 7,3% 4,0% 4,4% 7,0% 8,5% 10,7% Income from operations (EBIT) 446 491 397-129* 189 345 392 513 759 Earnings before income taxes (EBT) 394 457 328-227 120 232 348 443 660 Net earnings 307 358 305-246 100 183 276 346 515 thereof to SZ AG shareholders 255 297 242-326 19 162 200 252 377 Market capitalization 2.718 2.828 4.206 3.024 2.746 2.587 3.230 3.768 4.117 Closing price on February 28/29 15,55 16,18 22,21 15,97 14,50 13,66 17,06 19,90 21,75 Earnings per share ( ) 1,48 1,67 1,36-1,72 0,10 0,86 1,06 1,33 1,99 Dividend per share ( ) 0,50 0,55 0,55 0,55 0,40 0,40 0,45 0,55 0,70** Cash flow 522 550 527 554 498 504 553 606 823 Investments total 488 1.090 642 599 550 424 233 251 286 ~ 400*** Capital Employed 4.091 4.646 5.221 4.767 5.005 4.923 5.374 5.314 5.707 RoCE 11,7% 11,3% 8,6% 8,8% 4,7% 5,2% 7,5% 9,8% 13,2% Total Assets 6.038 7.195 7.926 7.932 7.917 7.709 7.398 7.260 8.289 Equity 2.386 2.738 3.733 3.362 3.299 3.230 3.443 3.687 3.969 Equity Ratio 39,5% 38,1% 47,1% 42,4% 41,7% 41,9% 46,5% 50,8% 47,9% Net Financial Debt (NFD) 1.100 1.672 1.177 811 1.508 1.632 1.065 854 791 ~ 850-950**** Gearing (NFD/Equity) 46,1% 61,1% 31,5% 24,1% 45,7% 50,5% 30,9% 23,2% 19,9% * Extraordinary impact from Goodwill impairment loss ** Proposal *** Capex (excluding investments in financial assets) **** incl. investment in ED&F Man Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 58

Long-term development (II) Cash flow (mn ) 522 550 527 554 553 606 498 504 823 4.6 4.8 Revenues (bn ) 5.3 5.8 5.8 5.9 5.7 6.2 7.0 >7.0 Net Financial Debt (mn ) Operating Profit (mn ) 1,672 1,508 1,632 1,100 1,177 1,065 850-950 811 854 791 NFD/CF 2.1x 3.0x 2.2x 1.5x 3.0x 3.2x 1.9x 1.4x 1.0x 479 523 450 419 233 258 403 521 751 >800 Sugar Special Products CropEnergies Fruit Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 59

Return on Capital Employed (RoCE) 2011/12 2010/11 2011/12 (mn ) RoCE RoCE Op. Profit Cap. Employed Südzucker Group 13,2% 9,8% 751 5.707 Sugar 17,1% 10,4% 511 2.984 Special Products 10,7% 10,8% 149 1.392 CropEnergies 10,2% 8,7% 53 519 Fruit* 4,7% 6,7% 38 812 * Adjustment segment fruit: Goodwill book value redirected to participation level of parent company Sugar: Significant increase despite increase in capital employed as earnings show significant uplift Special Products: Confirmation of prior year s level with stable capital employed CropEnergies: Further improvement due to significant earnings hike with stable capital employed Fruit: Decrease due to higher capital employed and lower earnings contribution Group: Despite higher capital employed RoCE improves significantly mainly driven by segment sugar Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 60

Return on Capital Employed (RoCE) 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13e Sugar 2.2% 5.0% 7.5% 10.4% 17.1% Segments Special Prod. CropEnergies 8.8% 10.0% 8.4% 8.2% 10.5% 2.3% 10.8% 8.7% 10.7% 10.2% Fruit 5.6% neg. 5.5% 6.7% 4.7% RoCE 4.7% 5.2% 7.5% 9.8% 13.2% Group Operating Profit 233 mn 258 mn 403 mn 521 mn 751 mn Capital Employed 5,005 mn 4,923 mn 5,374 mn 5,314 mn 5,707 mn Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 61

Breakdown of Capital Employed (2011/12) Breakdown by assets Breakdown by segments 23% 14% 45% 5.707 mn 5.707 mn 52% 9% 32% 25% Goodwill Working Capital Fixed assets Sugar CropEnergies Special Products Fruit Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 62

Liquidity profile end of period (mn ) Q4 2011/12 Q3 2011/12 Q2 2011/12 Q1 2011/12 Q4 2010/11 Net financial debt -791-690 -768-932 -854 Cash & cash equivalents / securities 715 1.057 1.117 806 506 Gross financial debt -1.505-1.747-1.885-1.737-1.360 Long-term financial debt -931-855 -824-942 -548 Short-term financial debt -574-892 -1.060-796 -812 Bank credit lines: 1.103 1.102 1.007 1.086 1.029 undrawn 411 499 368 563 480 Syndicated loan facility (July 2012) 600 600 600 600 600 undrawn 600 600 600 600 600 Commercial paper program 600 600 600 600 600 undrawn 450 600 600 600 600 Bank credit lines (undrawn) 411 499 368 563 480 + Cash & cash equivalents / securities 715 1.057 1.117 806 506 + Syndicated loan (undrawn) 600 600 600 600 600 + Commercial paper (undrawn) 450 600 600 600 600 = Total liquidity reserves 2.175 2.756 2.685 2.568 2.186 Successful placement of Agrana promissory note in April 2012; 110 mn, maturity 5, 7 and 10 years Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 63

Group balance sheet (mn ) 1,504 (20.7 %) Assets 28.02.2011 29.02.2012 Other current assets 1,928 (23.3 %) 2,211 (30.5 %) Liabilities 28.02.2011 29.02.2012 Current liabilities 2,515 (30.3 %) 1,709 (23.5 %) Inventories 2,324 (28.0 %) 1,362 (18.8 %) Non-current liabilities 1,805 (21.8 %) 4,046 (55.7 %) Non-current assets 4,037 (48.7 %) 3,687 (50.8 %) Equity 3,969 (47.9 %) Total 7,260 8,289 Total 7,260 8,289 Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 64

Group balance sheet (mn ) 29.02.2012 28.02.2011 (mn ) Intangible assets 1.192 14,4% 1.188 16,4% Fixed assets 2.554 30,8% 2.555 35,2% Shares in companies consolidated at equity 12 0,1% 11 0,2% Other investments and loans 34 0,4% 32 0,4% Securities 105 1,3% 105 1,5% Receivables and other assets 9 0,1% 29 0,4% Deferred tax assets 131 1,6% 125 1,7% Non-current assets 4.037 48,7% 4.046 55,7% Inventories 2.324 28,0% 1.709 23,5% Trade receivables and other assets 1.303 15,7% 1.080 14,9% Current tax receivables 16 0,2% 24 0,3% Securities 108 1,3% 151 2,1% Cash and cash equivalents 502 6,1% 250 3,4% Current assets 4.252 51,3% 3.213 44,3% 29.02.2012 28.02.2011 Equity attributable to shareholders of SZ AG 2.616 31,6% 2.412 33,2% Hybrid capital 684 8,3% 684 9,4% Other minority interest 669 8,1% 591 8,1% Shareholder's equity 3.969 47,9% 3.687 50,8% Provisions for pensions and similar obligations 546 6,6% 477 6,6% Other provisions 174 2,1% 168 2,3% Non-current financial liabilities 931 11,2% 548 7,5% Other liabilities 13 0,2% 14 0,2% Deferred tax liabilities 141 1,7% 155 2,1% Non-current liabilities 1.805 21,8% 1.362 18,8% Other provisions 184 2,2% 188 2,6% Current financial liabilities 574 6,9% 812 11,2% Trade payables and other liabilities 1.672 20,2% 1.179 16,2% Current tax liabilities 85 1,0% 32 0,4% Current liabilities 2.515 30,3% 2.211 30,5% Total assets 8.289 100,0% 7.260 100,0% Total liabilities and shareholders' equity 8.289 100,0% 7.260 100,0% Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 65

Financial calender Q1 1 st quarter report 2012/13 July 12, 2012 Annual general meeting for fiscal 2011/12 July 19, 2012 Q2 2 nd quarter report 2012/13 October 11, 2012 Q3 3 rd quarter report 2012/13 January 10, 2013 Press and analysts conference for 2012/13 May 16, 2013 Q1 1 st quarter report 2013/14 July 11, 2013 Annual general meeting for fiscal 2012/13 August 1, 2013 Contact Head of Investor Relations Nikolai Baltruschat Tel.: +49 (621) 421-240 investor.relations@suedzucker.de Disclaimer This presentation contains forward looking statements based on assumptions and estimates made by the executive board of Südzucker AG. Although the executive board may be convinced that these assumptions and estimates are reasonable the future actual developments and future actual results may vary considerably from the assumptions and estimates due to many external and internal factors. For example, matters to be mentioned in this connection include negotiations relating to the world trade agreement (WTA), changes to the overall economic situation, changes to EU sugar policies, consumer behavior and state food and energy policies. Südzucker AG assumes no responsibility and accepts no liability for future developments and future actual results achieved being the same as the assumptions and estimates included in this presentation. This presentation includes percentage and number rounding. Südzucker Analyst Conference May 15, 2012, Dr. Wolfgang Heer / Thomas Kölbl, page 66