Annual Financial Statements as per 31 December Analysts Conference

Annual Financial Statements as per 31 December 2016. Analysts Conference Frankfurt/M, Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO

Agenda 1. Financial Year 2016 2. Performance of the Segments 3. Group Financials 4. Strategic Outlook for FY 2017 5. Operational Outlook for FY 2017 Appendix Page 2

Financial Year 2016 Prof. Klaus Josef Lutz Page 3

Financial Year 2016 Highlights GROUP Diversified business portfolio supports development despite difficult agri markets Ongoing internationalisation of business activities Establishment of the Innovation & Digitalisation segment Stable dividend AGRICULTURE Implementation of speciality strategy through acquisitions: 100% Evergrain (Hamburg), 100% Thegra Tracomex Group (Netherlands) Expansion of Fruit: acquisition of 68.4% in TFC Holland, a supplier of exotic fruits and vegetables; entry into vegetable fruit cultivation in UAE through JV Al Dahra BayWa LLC Internationalisation of Agri Equipment: full takeover of Agrimec Group (Netherlands), founding of JV with Barloworld (South Africa), CLAAS cooperation in Canada ENERGY Ongoing growth of BayWa r.e.: market entry into South East Asia, Australia and BeNeLux Global expansion of service business: technical & commercial operation of solar and wind farms with an output of more than 2.3 GW BUILDING MATERIALS Expansion of online offering: start to building materials online portal and interior designer, developing of Mr+Mrs Homes home configurator Page 4

Financial Year 2016 Summary of the Group s key financials Revenues in EUR bn EBIT in EUR m Dividend in Euro 14.9 +3.4% 15.4 158.1-8.5% 144.7 0.85 0.85 2015 2016 2015 2016 2015 2016 Overview Slight increase in revenues above all through international expansion of agri trading Volume growth in grain & oilseed (+12% y/y) more than compensates for downturn in prices of grain and crude oil Difficult agri markets burden result Unfavourable environment for agri trading and agri equipment partly offset by strong performance of BayWa r.e., conventional energy, building materials and fruit Stable dividend at EUR 0.85 per share* * Subject to approval by the Annual General Meeting of Shareholders Page 5

Financial Year 2016 Multi-year comparison of operating EBIT in EUR million 147.9 169.5 190.4 178.0 194.8 181.8 Ø 167.9 112.6 2010 2011 2012 2013 2014 2015* 2016** * Excluding Digital Farming ** Excluding Innovation & Digitalisation Page 6

Financial Year 2016 Expansion progress Operating EBIT contribution in EUR million 200 Expansion (companies acquired from 2009 onwards) Core region (companies consolidated back in 2008) 150 100 50 0 2011 2012 2013 2014 2015 2016* Expansion percentage 18.4% 30.1% 44.4% 43.6% 56.2% 54.9% Page 7 * Excluding Innovation & Digitalisation

Performance of the Segments Prof. Klaus Josef Lutz Page 8

Agriculture Segment 2016 Grain Oilseed Seed Fertilisers Crop protection Feedstuff Fruit Agricultural equipment Page 9

Agriculture Segment 2016 Market developments: Products Products Global grain output in 2016/17 on track for new record at over 2 billion tons: volume growth in wheat (+2%) and corn (+9%) World grain balance (excluding rice; March 2017) In millions of tons Inventory change Production Consumption Global oilseed production 2016/17 of 716 million tons likely to reach new record high Inventories 2016/17 (grain & oilseed) continue to increase despite higher consumption EU grain harvest 2016 of 297 million tons impacted by unfavorable weather (-5% y/y); wheat qualities (especially in France) suffer from constant rain in early summer Below-average grain volume 2016 in Germany: decline in the harvest to 45.3 million tons due to wet weather conditions (-7% y/y) Summer months determined by reticence of farmers to sell and processors' reluctance to purchase; as from autumn onwards, acceleration in trading and collection/storage activities Source: USDA; * 2016/17 forecast Page 10

Agriculture Segment 2016 Price developments: Products Wheat & CornExtreme prices Volatility 2006-2016 (MATIF) Extreme Volatility Soymeal price 2016 (CBOT) 380 350 /mt Corn US-$/mt Wheat 300 360 250 340 200 320 150 300 100 280 50 6-year low in grain prices Falling prices during the selling phase in the first half of 2016 Modest price recovery at year-end harbours selling potential in 2017 260 Jan. 16 Mrz. 16 Mai. 16 Contract Mai 17 May 2017 Jul. 16 Contract Dec 17 Dec 2017 Sep. 16 Nov. 16 Jan. 17 Mrz. 17 Extreme and unpredictable price volatility; intensified by technical market mechanisms Irrational price fluctuations Inverse price curve hampers trading: price at the short end of the forward curve higher than at the long end Page 11

Agriculture Segment 2016 Challenges Extreme Volatilityin soymeal Irrational price development Volatility volatility Positioning ofextreme funds increases Soymeal 2016 vs average prices (day 1 = basis) Soymeal price 2016 vs position of speculative funds (CBOT) Ø 5 years Ø 10 years 2016 Positioning of speculative funds Price soymeal (left axis) Page 12

Agriculture Segment 2016 Market developments: Inputs Input resources Downturn in demand for input resources in 2016 because of economising of farmers and impassable fields as a consequence of wet weather conditions in early summer: decline in fertiliser (-2.5% y/y) and crop protection (-11.1% y/y) sales Fertilizer price CAN /t Lower sales volume in seed: despite price decline, preference for using own varieties (reproduction) in 2016 Strong decline of fertiliser prices across all varieties through to October 2016; recovery since then 218.00 Closing price as of 16/03/2017-34% Slight decline in the price trend of crop protection Attractive fertiliser storage conditions promote early procurement business for the 2016/17 fertiliser season = Calcium Ammonium Nitrate (CAN), Baltic Sea Ports Page 13

Agriculture Segment 2016 Market developments: Agri-Equipment Agri-Equipment New tractor registrations in Germany Downturn in producer prices causes strong decline in willingness to invest of farmers Another sales drop in 2016 to EUR 7.2 billion (-2% y/y) in German agri equipment sector Downtrend in new tractor registrations; significant sales declines also for harvesting equipment, as well as milking and transport technology Very difficult market in Austria (-11% y/y) Recovery in agri - economic barometer since June 16 40 35 35 30 34 35 36 37 36,264 36,248 34,611-10.8% 32,220 Ø 33,618 28,746 35 31 30 25 21 20 19 20 15 17 21 15 12 12 10 5 3 6 0 Mrz Jun Sep Dez Sep Dez Mrz Jun Sep Dez Mrz Jun Sep Dez Mrz Jun Sep Dez 12 12 12 12 13 13 14 14 14 14 15 15 15 15 16 16 16 16 2012 2013 2014 2015 2016 Page 14

Agriculture Segment 2016 Market developments: Fruit Fruit TOP 15 apple producing countries in millions of tons > 50% comes from China General - Cultivation and earnings sustainably optimised in producing countries - Global apple production at 85 mt, 50% comes from China Global apple production Pipfruit BayWa, Germany - Collected volume 2015/2016: 55,700 tons - Collected volume 2016/2017: 59,300 tons = +6.4% Other Pipfruit T&G, New Zealand - Collected volume 2016: 5.9 m TCE (106 kt) - Forecast volume 2017: 6.5 m TCE (117kt) = +10% - Record volume for the last 10 years upward trend - Optimal export volume distribution between Asia, EU-28, other - Selling no longer on a commission basis, but at fixed prices, and therefore upside potential Page 15

Agriculture Segment 2016 Revenues and EBIT as against the previous year BAST BAV (BayWa Agri Supply & Trade) (BayWa Agrar Vertrieb) in EUR m BAST + BAV in EUR m +7.8% 8,968.4 6,144.4 2,824.0 Revenues 8,321.4 Revenues Revenues 2016 2016 2016 2015-58.7% 41.6 28.7 EBIT EBIT EBIT 17.2-11.5 2016 2016 Commentary on BAST: Sharp increase in grain and oilseed trading volumes of the BAGI companies (+12% y/y) Irrational price fluctuations (soya, corn) owing to unforeseeable supply and demand situation Strong pressure on margins in grain & oilseed trading 2016 2015 Commentary on BAV: Sale of input resources below previous year due to significant decline in demand by farmers Fertiliser applications hampered in early summer of 2016 due to impassable fields Considerable downturn in fertiliser prices reduces profit margins Page 16

Agriculture Segment 2016 Revenues and EBIT as against the previous year Agricultural Equipment in EUR m -0.3% 1,260.7 New tractor sales 2002-2016 (number) 1,256.8 5,000 4,661 4,500 Revenues 3,850 4,000 3,500 2,832 3,000-50.7% 1,500 21.5 1,757 3,529 3,168 2,967 2,111 1,978 1,000 10.6 EBIT 1,690 4,366 3,986 Ø 3,171 2,776 2,500 2,000 3,038 4,855 500 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2015 2016 Revenues: 15/16 EUR -3.9 million EBIT: 15/16 EUR -10.9 million Start of 2016: EUR -30 million order backlog y/y Sales of new and used machinery in decline as expected (EUR -3 million) Agri Equipment Austria result of EUR -1.5 million Investments in infrastructure and sales specialization (MF, CLAAS): EUR -5 million Page 17

Agriculture Segment 2016 Revenues and EBIT as against the previous year Fruit in EUR m +16.2% 659.3 567.4 Revenues +56.7% 42.3 27.0 EBIT 2015 2016 Revenues: 15/16 EUR +91.9 million EBIT: 15/16 EUR +15.3 million 1. special effect - sale of FCC for ca 7.5 m 2. special effect - acquisition tfc: EBIT contribution 5.1 m BayWa Germany: results according to season T&G New Zealand: increasing production quantity, income from affiliates and various divestments Page 18

Energy Segment 2016 Fuels Heating oil Lubricants Solid biofuels BayWa r.e. Page 19

Energy Segment 2016 Market developments Renewable Energy Global renewable energy investments of USD 288 billion down 18% y/y due to price decreases for PV PV capacity installation at global record high (ca 75 GW) in 2016: China, USA & Japan as drivers; Germany with 1.5 GW around 7% higher y/y Global capacity installation of wind energy almost 55 GW (-14% y/y), of which 23 GW in China and 8 GW in the US; Germany at 4.6 GW (+24% y/y) Conventional Energy Following a 12-year low of oil prices at USD 28 per barrel in January 2016, increase to around USD 57 per barrel by the end of the year Sales decline in heating oil (-2.3%) and lubricants (-2.8%) in Germany German fuel sector up 3.1% in 2016 compared with previous year level (stronger demand for diesel) Heating oil prices Germany (2015-17) Source: TECSON, as of March 2017 Page 20

Energy Segment 2016 Worldwide expansion of power generation capacity until 2040 (GW) Strong decline of conventional in favor of renewable capacities expected! 500 Flexibilität* Flexibility* 450 PV PVklein rooftop 400 PV PVFreifläche ground mounted 350 Wind Windoffshore offshore 85% 250 50% Windonshore onshore Wind Renewable 300 Biomasse Biomass Wasserkraft Hydropower 200 Nuklear Nuclear 150 ÖlOil 100 50 15% 0 Source: Bloomberg New Energy Finance Conventional Gas Gas 50% Coal Kohle * Storage, flexible consumers and other potential sources Page 21

Energy Segment 2016 Revenues and EBIT as against the previous year Conventional Energy Renewable Energy in EUR m in EUR m -7.1% -9.6% 2,246.4 1,017.8 2,030.1 Revenues Revenues +2.6% 15.4 +8.9% 15.8 EBIT 61.8 67.3 2015 2016 EBIT 2015 945.9 2016 Revenues: 15/16 EUR -216.3 million EBIT: 15/16 EUR +0.4 million Above all price-induced decline in revenues (crude oil price at 12-year low in January 2016) Volume growth in fuel (+0.8% y/y); decline in sale of lubricants (-5.3% y/y) and heating oil (-3.2% y/y) Margin improvement in the fuel business Revenues: 15/16 EUR -71.9 million EBIT: 15/16 EUR +5.5 million Decline in market price of solar components reduces revenues; sales increase in PV trading (+10.9% y/y) Record result through expanding international project & service business: sale of 16 wind and solar farms in total with an output of 212.9 MW; additional sale of 2 geothermal plants (11.0 MW) Page 22

Building Materials Segment 2016 Building Materials Page 23

Building Materials Segment 2016 Market developments Construction market trends Favourable weather conditions boost construction activities over the course of the full year Construction industry reports 6% sales increase in 2016; 20-year high in order intake Positive development in all areas: residential building with strong sales growth (+8.7%); increase also in commercial construction (+3.4%) and public-sector construction (+5.2%) Urban multi-storey residential building as growth driver: +19% completed buildings; one- and twofamily homes report slight growth Capacity shortfalls lead to marginal decline in energetic refurbishment Construction forecast 2017, Germany Revenue expectation 2017 for the construction industry in Germany ( bn): Change 2016/17 in % Revenues 2017* West Residential construction Commercial construction East Total West East Total West Public-sector construction East Construction industry total East Total West Source: ZDB/HDB Total * Forecast Page 24

Building Materials Segment 2016 Revenues and EBIT as against the previous year Building Materials Segment in EUR m Revenues: EBIT: +2.3% 1,496.4 +4.0% 1,530.1 Building Materials 2016 Revenues: 15/16 EUR +33.7 million Volume-induced increase in revenues Higher sales across entire product range (boom in residential construction) Product portfolio for civil engineering and road building benefits from investment increase in transport infrastructure 28.5 2015 2016 Building Materials 2015 27.4 EBIT: 15/16 EUR +1.1 million Sales increase lifts profit y/y Ongoing optimisation of locations network Reduced logistic costs (lower fuel prices) Page 25

Innovation & Digitalisation Segment 2016 Revenues and EBIT as against the previous year Innovation & Digitalisation In EUR m +15.4% 6.0 5.2 Revenues > -100% EBIT -2.9-8.6 2015* 2016 Revenues: 15/16 EUR +0.8 million EBIT: 15/16 EUR -5.7 million Revenues from the activities of FarmFacts GmbH and its subsidiaries (software licensing fees etc.) Investment in new Next Farming product generation incurs R&D costs * Figures of former Digital Farming business unit Page 26

Group Financials Andreas Helber Page 27

Group Financials Final quarter as against the previous year Revenues in EUR m +3.6% EUR 3,970.6 million (Δ 15/16: EUR +139.2 million) Moderate revenue growth compared with previous year Increase in collection, storage and selling volumes of grain and oilseed Sharp revenue increases from Fruit and Agri Equipment Energy and Building Materials segments in marginal decline EBIT 3,831.4 3,970.6 Q4/2015 Q4/2016 in EUR m -21.5% EUR 59.3 million (Δ 15/16: EUR -16.2 million) 75.5 59.3 Decline in profit compared with very strong closing quarter in 2015 (record quarter for BayWa r.e.) Energy and Building Materials segments below Q4/2015 Strong final quarter for Fruit Catch-up effects in Agri Equipment Q4/2015 Q4/2016 Page 28

Group Financials Key Financials Income Statement Group 2016 15/16 (%) in EUR m 2012 2013 2014 2015 Revenues 10,531.1 15,957.6 15,201.8 14,928.1 15,409.9 3.2% EBITDA 306.6 281.4 279.8 288.3 272.6-5.4% % of Revenues 2.9% 1.8% 1.8% 1.9% 1.8% EBIT 186.8 137.4 152.1 158.1 144.7 % of Revenues 1.8% 0.9% 1.0% 1.1% 0.9% EBT 122.6 75.1 80.4 88.1 69.6 % of Revenues 1.2% 0.5% 0.5% 0.6% 0.5% Consolidated net income 118.0 54.3 80.7 61.6 52.7 Tax rate 3.8% 27.7% -0.4% 30.1% 24.3% 21.3 23.1 19.3 13.4 21.6 18.1% 42.5% 23.9% 21.8% 41.0% 96.7 31.2 61.4 48.2 31.1 81.9% 57.5% 76.1% 78.2% 59.0% 2.82 0.91 1.78 1.39 0.90 Share of minority interest as % of net income Share of owners of parent company as % of net income Earnings per share (EPS) in EUR -8.5% -21.0% -14.4% 61.2% -35.5% -35.3% Page 29

Group Financials Key Financials Balance Sheet Group in EUR m 2016 15/16 (%) 2012 2013 2014 2015 Total assets 4,460.2 5,199.3 5,652.0 6,036.7 6,474.9 7.3% Equity 1,078.0 1,115.0 1,050.4 1,075.9 1,098.3 2.1% Equity ratio 24.2% 21.4% 18.6% 17.8% 17.0% Equity ratio adjusted* 27.1% 23.8% 22.4% 21.4% 20.8% 2012 2013 2014 2015 Non-current assets 1,783.3 2,094.0 2,261.7 2,287.2 2,355.7 3.0% Current assets 2,444.4 3,061.8 3,371.8 3,739.7 4,094.2 9.5% Provisions 784.2 772.5 921.2 913.8 956.2 4.6% Non-current financial liabilities 649.2 788.4 1,107.9 1,223.2 1,269.3 3.8% Current financial liabilities 897.7 1,140.6 1,175.1 1,321.0 1,520.8 15.1% in EUR m 2016 15/16 (%) * Adjusted for the reserve formed for actuarial profits and losses Page 30

Group Financials Balance sheet growth 2016 Total assets Increase induced by acquisitions Increase/decrease induced by divestments or organic growth 2015 Total assets 2014 In EUR million 6,475 6,037 Total assets 2013 5,652 Total assets 2012 2011 5,199 Total assets 4,460 Total assets 2010 Total assets 3,260 3,922 662 538 306 321 56 265 739 721 598 375 356-60 - Projects BayWa r.e. 453 78 - Expansion BayWa r.e. - T&G Global - Divestment DIY 438 109 273 329 112 18 - Cefetra - Bohnhorst 385 - Projects BayWa r.e. - BAGI - Evergrain - TFC Page 31

Group Financials Equity ratio and cash convertibility of assets in EUR million Equity ratio 4: 26.6% Total assets Equity Equity ratio 3: 21.5% Equity ratio 2: 20.2% Equity ratio 1: 19.3% Equity ratio: 17.0% Reduced by readily marketable inventories (agricultural products) 6,475 6,475 Reduced by readily marketable inventories (agricultural products) + non-recourse financing 6,475 Reduced by total readily marketable inventories (agricultural products and input resources) + non-recourse financing 6,475 5,446 5,102 1,098 2,352 1,029 5,693 Total assets 2016 6,475 1,373 782 2016 Reduced by total readily marketable inventories (agricultural products and input resources) + non-recourse financing + accounts receivable Total Total assets assets adjusted 2016 Total assets adjusted Total assets 2016 Total Total assets assets adjusted 2016 4,123 Total assets adjusted Page 32

Group Financials Key Financials Cash Flow Statement Group in EUR m 2012 2013 2014 2015 2016 15/16 (%) Consolidated net income 118.0 54.3 80.7 61.6 52.7-14.4% Cash flow from operating activities 150.0 230.3-90.6 19.0 208.6 > 100% Cash flow from investing activities -193.7 84.5-227.6-143.5-123.6 13.9% Cash flow from financing activities 37.4-297.0 334.4 98.7-63.0 > -100% Cash & cash equivalents at the start of the period 87.0 83.2 92.1 108.4 84.5-22.0% Cash & cash equivalents at the end of the period 83.2 92.1 108.4 84.5 104.4 23.6% Page 33

Group Financials Economic Profit 2016 Net Operating Profit Ø Invested Capital ROIC WACC Spread Economic Profit BAST -11.5 847.3-1.36% 5.70% -7.06% -59.8 BAV 28.7 1,016.0 2.82% 5.70% -2.88% -29.2 Agri. Equipment 10.6 476.1 2.23% 6.70% -4.47% -21.3 Fruit 42.3 327.4 12.92% 5.80% 7.12% 23.3 in EUR m Agriculture Segment -87.0 Conventional Energy 15.8 31.7 49.84% 5.90% 43.94% 13.9 Renewable Energy 67.3 980.5 6.86% 4.40% 2.46% 24.2 Energy Segment Build. Mat. Segment 38.1 28.5 394.5 7.22% 6.10% 1.12% 4.4 Page 34

Group Financials Adjusted net debt in relation to EBITDA and equity 2,618 104 247 Adjusted net debt EBITDA = 5.4 Adjusted net debt Adjusted equity* = 1.1 782 1,485 1,485 1,343 273 1,485 Liabilities in EUR million Cash NonRecourse financing Readily Adjusted marketable net debt inventories Adjusted net debt EBITDA Adjusted net debt in EUR million Adjusted equity* in EUR million * Adjusted for the reserve formed for actuarial profits/losses in the measurement of pension provisions amounting to approx. EUR 245 million Page 35

Other Activities 2016 Revenues and EBIT as against the previous year in EUR m +3.9% 13.3 12.8 Revenues +15.1% EBIT -33.7 2015-28.6 2016 Revenues: 15/16 EUR +0.5 million EBIT: 15/16 EUR +5.1 million EBIT consists of non-core activities, overhead costs and consolidation effects Page 36

Strategic Outlook Financial Year 2017 Prof. Klaus Josef Lutz Page 37

Group 2017 Strategic focus areas CB Optimizing core businesses S Specialities I Internationalisation Page 38

CB Group 2017 Project Salamander: first results 1 2 Quick wins / short term Reduction of capital employed [ m] 346 Long term Analysis and proposal on reducing capital employed in the following business entities: Agrar Vertrieb (BAV) already realized (29/3/2017) identified Capital Exposure RWA Agriculture WHG Agri Equipment RWA 183m 180 3 106 60 BAST Reduction working capital BayWa r.e. Agri Equipment Strategic divestments Reduction of capital employed WHG 28m BAV 555m Strategy review Identification of inefficient entities and initiation of a strategy review and performance monitoring for these entities Total Page 39

CB Agriculture Segment 2017: BAST Optimization and strategic focus 1 Focus on fundamental business Supply chain management Logistics Services Customer proximity 2 Optimization of risk profile Reduction of VARs Better coordination/ reconciliation of processes Quantumrock & Molinero 3 4 5 Cost optimization Portfolio optimization & reallocation of capital employed Ongoing implementation of speciality strategy Bean II: ongoing cost reduction project FYE 2017: 7 m FYE 2018: 12 m Raising of the per-ton margin Reduction and reallocation of capital employed for functional entities Project Salamander Malting barley (Evergrain) Thegra Tracomex Other specialities (hops, etc.) Risk Controlling: direct report to CEO Page 40

CB Agriculture Segment 2017: BAST Optimization of risk profile Model Trend Following Normal Trading Model Statistical Arbitrage Low frequency (daily trading, hold/change positions) Complements current directional futures/option trading with clear rules for stop-loss and hold Trading signals from multiple submodels Strong in seasonal markets with trends Low latency (intraday - direct orders, no positions) Independent business model Clear statistical in/out rules Strong in chaotic markets - no trends required Strong in certain events - e.g. publication of USDA reports USP Innovative analytics based on behavioral finance, digital signal processing and fractal geometry Statistical pattern recognition for microarbitrage, processing/trading speed, self learning BENEFIT Additional P&L, real signals for traders, trading discipline, access to market data from Molinero Additional P&L, uncorrelated to trend following model, ability to participate in currently inaccessible market; great platform for co-development of new ideas SUMMARY PARTNER Page 42

CB Building Materials 2017 Focus on core business: portfolio optimization 32 locations realize -3.9 m EBIT -20,0% 133 130 127 124 121 118 115 112 109 106-10,0% 103 97 100 94 91 88 85 82 79 76 73 70 67 64 61 58 55 52 49 46 43 40 37 34 31 28 25 22 19 16 13 7 10 4 0,0% 1 2015 10,0% 64 locations realize 19.1 m EBIT 127 124 121 118 115 112 109 106 103 100 97 94 91 88 85 82 79 76 73 70 67 64 61 58 55 52 49 46 43 40 37 34 31 28 25 22 19 16 13 10 7 4 0,0% 1 2016 10,0% -10,0% 19 locations realize -2.8 m EBIT -20,0% 71 locations realize 20.8 m EBIT 127 124 121 118 115 112 109 106 103 100 97 94 91 88 85 82 79 76 73 70 67 64 61 58 55 52 49 46 43 40 37 34 31 28 25 22 19 16 13 10 7 4 0,0% 1 2017* 10,0% -10,0% 3 locations realize -20,0% -0.7 m EBIT 101 locations realize 24.1 m EBIT * planned Page 42

S Agriculture Segment 2017: Fruit Safeguarding through specialities & verticalization 1 Retailer want to have more control over the supply chain new requirements placed on suppliers Producers Verticalisation Traders Production Raw materials Retailer Aggregators Processing Marketing Sales Consumers New principles of working together 2 Suppliers must redefine USPs for themselves in order to be successful: Vertical integration Control of the supply consistency/quality and food safety Brand owner / Intellectual property Club varieties concepts Patented technology Efficient supply chain Worldwide VERTICALISATION AND INTERNATIONALISATION ARE REQUIRED Page 43

S Agriculture Segment 2017: Fruit Specialities & verticalization: JV in the UAE Overview Pilot project: 10 ha climate-controlled greenhouse Location: Al Ain, United Arab Emirates Product: Conventional & high-end tomatoes Volume: 5,000 tons/ Year (50kg/m2 per year) Sales: Local for local Start of production: Q1/2018 / 5 ha Investment: EUR 30 million Land: Rent-free rental agreement for 20 years with Al-Dahra Financing: Intercompany loan through BayWa; until repayment, BayWa is 100% entitled to dividend subsequently 51% BayWa / 49% Al-Dahra Al Dahra BayWa LLC Held in a fiduciary capacity by Al-Dahra Local law: No majority structure in favour of internat. company Director 1 Director 2 General Manager Director 3 Director 4 Director 5 Board of Directors Controller Strategic rationale Reducing the volatility of product availability through production in greenhouses Further diversification of the product portfolio of the Fruit Business Unit focus on specialities Establishing BayWa as a producer of fresh vegetables using ultra-modern technology (Climate Control) Entry into a high-growth region with synergy potential for other areas of BayWa (e.g. BayWa r.e.) Logistic Hub Processing Packaging Local market Sustainable Page 44

I Agriculture Segment 2017: Fruit Internationalisation & verticalization of T&G By 2022: increase in own production & greater presence locally with customers; focus on ASIA 32 locations worldwide 4 global divisions 1,380 employees + 2,000 seasonal workers Fokus 2022 Sourcing region (Own production / export) Market presence (Local sales) Increase of enterprise value: 2012 acquired for: NZD 1.85 per share 2017 share price NZD 3.60 per share (as of 25/3/17) Page 45

I Energy Segment 2017: BayWa r.e. Market entry into Australia: solar projects Hughenden (Queensland) Output: PV modules: Grid connection: Yatpool (Victoria) Output: PV modules: Grid connection: 20 MW >60k Q4/2017 106.3 MW >312k Q2/2018 Karadoc (Victoria) Output: PV modules: Grid connection: 112.5 MW >330k Q1/2018 Strategic rationale: Achieving a leading position in the Australian market Hughenden Projects well recognized positive influence on name recognition in the market and thus the possibility of acquiring further PPAs. Positive impact also on the solar trading and wind power business. High investment propensity investors ready to enter into a commitment during the construction phase. Narrowing of the margin but positive impact on liquidity and leverage. Karadoc & Yatpool Page 46

Operational Outlook Financial Year 2017 Prof. Klaus Josef Lutz Page 47

Operational Outlook 2017 Agriculture Segment AGRICU LTURE High grain stocks can cause selling potential for H1/2017; recovery of producer prices Record harvest volume anticipated for grain & soya 2016/17 offers little scope for long-term price increases Expanding of higher-margin speciality business (Evergrain, Thegra Tracomex) Demand for input resources likely to normalize; fertilizer business benefits from price increases Agricultural equipment investments in Germany and abroad expected to pick up momentum order backlog higher than in 2016 (+14% y/y) Selling volume of fruit (domestic & international) expected to increase BUIL DING MAT ERIA LS Page 48

Operational Outlook 2017 Energy Segment AGRICU LTURE Output capacity of around 500 MW planned for 2017 (200 MW wind, 300 MW solar); margin pressure due to increasing competition in international project business BayWa r.e. as leading supplier in Europe likely to benefit from rising demand in trading of PV components (ongoing price decline) Crude oil prices predicted above previous year; long period with frost in January / February could boost heating oil sales Stable demand for fuel and lubricants expected due to positive economic development BUIL DING MAT ERIA LS Page 49

Operational Outlook 2017 Building Materials Segment AGRICU LTURE Increasing construction forecast 2017: overall revenue growth of 5% in German construction industry Positive expectations for residential construction (+7% y/y), commercial construction (+3% y/y), publicsector construction (+5% y/y) Trend towards prefabrication: rising demand for building components and precasted modules anticipated Additional value-added potential through expansion of online offerings; expansion of own brand portfolio Volume-induced earnings growth likely to more than compensate for cost increases (labor costs) BUIL DING MAT ERIA LS Page 50

Thank you for your attention The information in this presentation is partly made up of forward-looking statements which are based on assumptions and are subject to unforeseeable risks. In as much as the assumptions on the successful integration of acquisitions and on the internal growth of the company should prove to be inaccurate, or should other unforeseeable risks occur, the possibility of the assets, financial position and results of operations of the Group diverging negatively from the target figures cited in this presentation should not be discounted. can therefore undertake no guarantee that the actual development of the net worth, financial position and results of operations of the Group will concur with the target figures described in this presentation.

Appendix Page 52

Financials Agriculture Segment Income Statement Agriculture in EUR m 2012 2013 2014 2015 2016 15/16 (%) Revenues 5,051.9 10,748.5 10,105.3 10,154.7 10,884.5 7.2% EBITDA 139.0 177.7 163.8 141.6 125.6-12.7% % of Revenues 2.8% 1.7% 1.6% 1.4% 1.2% 91.0 121.4 107.8 87.2 70.1 1.8% 1.1% 1.1% 0.9% 0.6% 52.8 83.1 68.5 50.0 31.8 1.0% 0.8% 0.7% 0.5% 0.3% EBIT % of Revenues EBT % of Revenues -22.2% -39.8% Page 53

Financials Energy Segment Income Statement Energy in EUR m 2012 2013 2014 2015 2016 15/16 (%) Revenues 3,676.8 3,496.3 3,489.0 3,264.2 2,976.0-8.8% 72.6 77.9 74.1 114.8 113.7-1.0% 2.0% 2.2% 2.1% 3.5% 3.8% 43.0 45.1 42.3 77.2 83.1 1.2% 1.3% 1.2% 2.4% 2.8% 26.6 31.0 30.6 65.8 69.3 0.7% 0.9% 0.9% 2.0% 2.3% EBITDA % of Revenues EBIT % of Revenues EBT % of Revenues 7.6% 5.3% Page 54

Financials Building Materials Segment Income Statement Building Materials in EUR m 2012 2013 2014 2015 2016 15/16 (%) Revenues 1,740.4 1,703.1 1,524.8 1,496.4 1,530.1 2.3% 52.8 38.0 42.9 42.2 43.9 4.0% 3.0% 2.2% 2.8% 2.8% 2.9% 35.4 23.9 28.0 27.4 28.5 2.0% 1.4% 1.8% 1.8% 1.9% 25.9 13.7 17.1 17.5 18.8 1.5% 0.8% 1.1% 1.2% 1.2% EBITDA % of Revenues EBIT % of Revenues EBT % of Revenues 4.0% 7.4% Page 55

BayWa Share 2016 Page 56

BayWa Share 2016 Shareholder structure as per 31/12/2016 BayWa share profile (December 2015) Bayerische RaiffeisenBeteiligungs AG 34.99% Freefloat 39.92% Stock exchanges Frankfurt, Munich, Xetra Segment Official Market/Prime Standard Stock exch. index SDAX (Sec. code no. 519406 and 519400) ISIN DE0005194062 and DE0005194005 Share capital EUR 89,347,033.60 Number of shares 34,901,185 Raiffeisen Agrar Invest GmbH 25.09% Denomination No-par value shares with an arithmetical portion of EUR 2.56 each in the share capital Securitisation In the form of a global certificate deposited with Clearstream Banking AG. Shareholders participate as co-owners corresponding to the number of shares held (collective custody account) Page 57

BayWa Share 2016 Share price performance Share Aktie from 01/01/2016 to 10/03/2017 Closing price on 30/12/2015 28.40 High (30/03/2016) 31.46 Low (28/06/2016) 25.62 Closing price on 30/12/2016 30.79 Market capitalisation in EUR m As per 31/12/2015 As per 31/12/2016 Freefloat market cap. (31/12/2016) 987.7 1,071.9 428.2 Page 58

Contact and Financial Calendar Financial Calendar 2017/18 Head of Investor Relations March 2017 31/03 Analysts` Conference, Frankfurt a.m. Josko Radeljic May 2017 11/05 Analysts Conference Call Q1 23/05 Annual General Meeting, ICM Munich St.-Martin-Str. 76 81541 Munich August 2017 03/08 Analysts Conference Call Q2 November 2017 09/11 Analysts Conference Call Q3 March 2018 29/03 Analysts` Conference, Frankfurt a.m. Germany Tel.: +49 (0)89 / 92 22-38 87 Fax: +49 (0)89 / 92 12-38 87 e-mail: investorrelations@baywa.de