HSBC Zurich Investors Conference

HSBC Zurich Investors Conference Zurich, 5 December 2017 Bernhard Juretzek (Manager Investor Relations) Südzucker Group, page 1

Agenda 1. Overview and strategy page 3 2. Capital Market and Financing page 14 3. Development of Segments Sugar page 20 Special Products page 30 CropEnergies page 40 Fruit page 49 4. Financial Highlights H1 2017/18 page 55 5. Outlook 2017/18 page 67 6. Appendix Long-term development and key figures page 74 Additional information page 81 Südzucker Group, page 2

Südzucker Group at a glance Global operating German food group with long-standing corporate history and diversified business model: 1837: Foundation of first sugar company 1926: Foundation of Süddeutsche Zucker-AG ~ 100 production facilities* ~ 17.000 employees, worldwide* Majority shareholder / Key shareholders: Süddeutsche Zuckerrüben- Verwertungsgesellschaft eg: 56 % Zucker Invest GmbH: 10 % Stock exchange listing in Germany MDAX-member Trading volume*: ~ 0.8 mn shares/day Sustainable investment grade rating Group Revenues 6.5 bn * Sugar (43%) CropEnergies (11%) Special Products (28%) Fruit (18%) * Financial year 2016/17 Südzucker Group, page 3

Südzucker Group: Key ratios 2016/17 Revenues EBITDA Operating Result 6,5 bn prev. year: 6,4 bn 709 mn prev. year: 518 mn 426 mn prev. year: 241 mn Net Financial Debt/Cash flow 0,65x prev. year: 1,16x Cash flow 634 mn prev. year: 480 mn Cash flow/revenues 9,8 % prev. year: 7,5 % Südzucker Group, page 4

Strong market positions in all business areas Sugar # 1 in Europe Specialty starches and Isoglucose One of the leading producers in Europe Fruit preparations # 1 worldwide Portion packs # 1 in Europe Fruit juice concentrates # 1 in Europe Südzucker Group, page 5 Bioethanol # 1 in Europe Functional Food # 1 globally for functional Chicoree-/ Riceproducts, Isomalt/ Palatinose Frozen pizza # 1 in Europe and USA (private label)

Diversified and strong cashflow base* operating result share in % 17 % 17 % Depreciaton EBITDA Cash flow Fruit 72 43 % Crop Energies 98 23 % 184 Special Products operating result segments 72 283 709 Sugar 634 Net Financial Debt 413 * Financial year 2016/17 in mn Südzucker Group, page 6

Return on Capital Employed (RoCE)* Capital 5,950 5,873 5,877 5,791 6,012 5,901 Employed (mn ) Group RoCE (%) 16.3 % 10.6 % 3.1 % 4.2 % 7.1 % 8.3 % 2012/13 2013/14 2014/15 2015/16 2016/17 Ø 5 years Sugar 22.4 % 13.7 % 0.2 % -2.6 % 2.3 % ~7.2 % RoCE Special Products 9.5 % 6.3 % 8.7 % 11.9 % 12.2 % ~9.7 % CropEnergies 17.3 % 6.4 % -2.2 % 17.7 % 20.4 % ~11.9 % Fruit 5.0 % 8.1 % 8.4 % 7.5 % 8.3 % ~7.5 % Südzucker Group, page 7 * IFRS 11 adjusted since 2013/14, inclusive goodwill

Group strategy take benefit of megatrends advance diversification synergy usage strengthen market position support and stipulate employees focus on core competences increase shareholder value continue solid financing strategy / target valueoriented investments act sustainable Südzucker Group, page 8

Synergy example: Zeitz site- five composite factories Starch factory CO 2 - Liquefaction Sugar factory Neutral alcohol factory Bioethanol factory Südzucker Group, page 9

Portfolio benefits from long-term megatrends 8,000 6,000 mn sugar consumption worldwide t 218,000 178,000 138,000 USD 12,000 8,000 per capita income worldwide 4,000 2,000 population growth worldwide 98,000 58,000 18,000 4,000,0 emerging markets Sources: United Nations, F.O. Licht Source: ERS International Macroeconomic Data Set mn barrel / day 120 100 80 60 40 20 0 oil consumption USD / barrel mn t 120 1,000 100,800 80 60,600 40,400 20 crude oil price,200 0 global animal feed production Source: BP, EIA Source: USDA Südzucker Group, page 10

with volatile and cyclical market conditions and 700 600 500 White sugar ( /t) 350 300 250 Wheat / Maize ( /t) 800 750 700 650 Ethanol ( / m³) 400 300 200 200 150 100 600 550 500 450 100 50 400 1,70 EUR/USD Brent (USD/barrel) 6,0 3M-Euribor (%) 1,60 150 5,0 1,50 4,0 1,40 100 3,0 1,30 2,0 1,20 50 1,0 1,10 1,00 0 0,0-1,0 Südzucker Group, page 11

environment influenced by political decisions Global trade Brasil EU NAFTA CETA TTIP Petrobras Ethanol-blending Sugar market regime Ethanol-blending Südzucker Group, page 12

Three strong anchors in the capital market Südzucker AG Zucker Invest GmbH (10%) Freefloat (34%) Market Cap 3.5 bn SZVG* (56%) AGRANA Beteiligungs-AG CropEnergies AG Südzucker indirect via Z&S (39%) Südzucker direct (3%) Südzucker (69%) Market Cap 1.6 bn Freefloat (19%) Market Cap 0.8 bn Z&S** (78%) SZVG* (6%) Freefloat (25%) Südzucker Group, page 14 * Süddeutsche Zuckerrübenverwertungs-Genossenschaft eg ** Z&S Zucker und Stärke Holding AG (~50% Südzucker, ~50% ZBG (Zucker-Beteiligungsgesellschaft m.b.h.))

Investment Grade Rating Standard & Poor's 70% 60% A 50% Rating agency Long-term rating Short-term rating BBB+ 40% 30% Outlook stable BBB 20% BBB * Stable Outlook * A 2 * BBB Long term rating FFO / NFD adj. S&P 10% 0% Moody's 70% 60% Baa 2 ** Stable Outlook *** P 2 ** Aaa1 Baa 3 50% 40% 30% Outlook Stable Baa 2 20% Baa 1 Long term rating RCF / NFD adj. Moody's 10% * since 23 June 2017 ** since 17 June 2014 *** since 20 May 2016 0% Südzucker Group, page 15

Unchanged high liquidity* (mn ) 28.02.2014 28.02.2015 29.02.2016 28.02.2017 mit IFRS 11 mit IFRS 11 mit IFRS 11 mit IFRS 11 Net financial debt -536-593 -555-413 Cash & Cash equivalents / securities 648 681 604 725 Gross financial debt -1.183-1.274-1.158-1.138 Long-term financial debt -681-774 -731-914 Short-term financial debt -502-500 -427-224 Bank credit lines: 759 807 798 786 undrawn 313 364 433 464 Syndicated loan facility 600 600 600 600 undrawn 600 600 600 600 Syndicated loan facility Agrana 450 450 450 450 undrawn 373 371 339 450 Commercial paper program 600 600 600 600 undrawn 510 400 475 600 = Total liquidity reserves 2.444 2.417 2.451 2.839 * IFRS 11 adjusted since 28 February 2014 Südzucker Group, page 16

Favourable financing maturity profile* (mn as of 28 November 2017) 400 36 7 300 500 2017 2018 2019 2020 2021 2022 2023 2024 2025 EUR-Bond 4.125 % EUR-Bond 1.25 % EUR-Bond 1.00 % Promissory Notes Syndicated loans 1,050 mn * Commercial Paper Programm 600 mn (perpetual) Hybrid Bond 700 mn (perpetual) 5.25 % p.a. before June 2015 payout annually / since June 2015 3M-Euribor + 310 bp payout quarterly * Maturity: 2018/150 mn, 2020/600 mn, 2021/300 mn Südzucker Group, page 17

Strong balance sheet ratios mn 28.02.2015 29.02.2016 28.02.2017 Net Financial Debt 593 555 413 Gearing (NFD : Equity) 13,3% 12,4% 8,4% Cash flow 389 480 634 NFD / Cash flow 1,5x 1,2x 0,7x Total assets 8.474 8.133 8.736 Shareholders' equity 4.461 4.473 4.888 Equity ratio 52,6% 55,0% 56,0% Capital Employed 5.877 5.791 6.012 RoCE 3,1% 4,2% 7,1% Südzucker Group, page 18

Segment Sugar (mn ) 2016/17 2015/16 Δ Revenues 2.776 2.855-79 -2,7% EBITDA 201 48 153 > 100 EBITDA-Margin 7,3% 1,7% Operating Result 72-79 151 Operating Margin 2,6% -2,7% Restructuring and special items -12 4-16 Result from companies consolidated at equity 7 32-25 -79,4% Result from operations 67-43 110 Investments 271 181 90 49,8% Fixed Assets 153 181-28 -15,5% Financial Assets / Acquisitions 118 0 118 > 100 Capital Employed 3.169 3.041 128 4,2% RoCE 2,3% -2,6% Südzucker Group, page 20

EU production base* European market leader (Market share > 25 %) Increase in production utilization to >120 days: Production and distribution increase to 5.2 to 5.4 mn t Efficient Pan-European distribution and logistic structure Ireland Great Britain Netherlands Belgium Germany Poland Sustainable production in most productive European beet areas Cost savings throughout the whole value chain France Czech Republic Autstria Slovakia Hungary Romania Moldova Secure and enforce competitiveness and market position Portugal Spain Italy Bosnia/ Herzegovina Bulgaria Usage of growth opportunities outside of Europe Greece Exports outside of EU Partnership with ED&F Man (~ 35 % participation) Acquisitions * Display from October 2017 and incl. UK Distribution activities Beet sugar factories Sugar refineries Israel Südzucker Group, page 21

Sugar balance EU and world World* EU** 181,5 180,6 175,8 178,7 180,3 179,8180,6 174,2 188,9 184,3 mn t 13/14 14/15 15/16 16/17e Production EU 17,6 20,3 15,7 17,6 from beet 16,8 19,5 14,9 16,8 from maize 0,7 0,8 0,8 0,8 Import 3,2 2,8 2,9 2,9 79,4 80,4 71,5 66,7 71,2 Import white sugar 0,8 0,7 n.a. n.a. EU Refining of imported raw sugar 2,5 2,2 n.a. n.a. Export 1,4 1,5 1,4 1,5 2013/14 2014/15 2015/16 2016/17e 2017/18e 45,1% 45,0% 39,6% 37,0% 38,6% Production Consumption Ending Stock %: Ending stock in % of consumption Consumption 20 20,2 19,3 19,7 Ending stocks 2,6 4,0 1,9 1,3 * F.O. Licht estimates for 2017/18e, November 2017 ** EU-Commission Südzucker Group, page 22

Price environment Sugar price development ( /t) 800 700 600 500 400 300 200 100 0-100 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 World market price EU price ex works Δ EU- vs. World market price World market*: 2015/16: significant inventory decline first time since 6 years 2016/17: further inventory decrease leads to low inventory level 2017/18e: despite expected slight inventory increase, still low inventory level Therefore following strong increase in 2016, current price decrease EU: Massive reduction until December 2014 Followed by bottoming out until H2 2015 Since 2016: Increase follows increased world market price level * World market price ex works: without transportation and other costs Südzucker Group, page 23

EU sugar market: Market structure from October 2017* (I) Demand EU ~ 19 mn t Supply EU ~ 24 mn t Global demand ~ 182 mn t Retail Bakery Beverages EU beet sugar Local marketing Industrial Chocolate and confectionery EU HFCS/Isoglucose Dairy and fruit products Non-Food Imports White sugar EU Refining Imports** Global marketing * Schematic display: beyond October 2017 (incl. Great Britain) ** only from LDC, ACP, CXL, Andean, Balkans, Central America and from other preferential agreements Südzucker Group, page 24

EU sugar market: Market structure from October 2017* (II) Oct. 17 Oct. 18 Sugar maketing year (Oct. - Sept.) 2016/17 Sugar marketing year (Oct. - Sept.) 2017/18 Sugar marketing year (Oct. - Sept.) 2018/19 Sugar and isoglucose quota Quota sugar: Minimum beet price Exports limited to about 1.4 mn t p.a. Elimination of sugar and isoglucose quota No minimum beet price No export restrictions Business year (Mar. - Feb.) 2017/18 Business year (Mar. - Feb.) 2018/19 Always influenced from two sugar marketing years: Production volumes with and without quota Prices from quota and post-quota time EU to structurally change substainably from import to export market Border Protection: unchanged Import duty 419 /t (white sugar) resp. 339 /t (raw sugar) from non-preferential countries Preferential agreements with LDC-/ACP- and other countries: unchanged * Schematic display Südzucker Group, page 25

Participation in ED&F Man offers a global footprint Participation ~ 35 % Long standing successful history (founded 1783) Truely global footprint (~ 6,500 employees in 60 countries) Beneficiary of long-term growth in global sugar demand Approx. 10 mn t global sugar trading volume; one of the largest sugar trader with significant presence in Central and South America, Far East, South East Asia and Africa Sugar only Liquid Products only Coffee only Multiple businesses Participations in sugar production and refining capacities amongst others in the Ukraine, Mexico, Chile and India Well positioned in further complementary key product categories Trading of coffee (incl. roasting) and molasses (Man liquid products) Further business activities in divisions shipping and financial services Südzucker Group, page 26

Strategy Segment Sugar Defend and extend EU market position Cost savings across the whole value chain Further centralization of administration Maximum utilization Factory capacity Sugar Extend production and distribution volumes Usage of ED&F Man participation potential Advance internationalization/ open up new markets Südzucker Group, page 27

Segment Sugar: Outlook 2017/18 Revenues Increase in volumes from October 2017 Moderate increase in revenues (prev. year: 2,776 mn ) Operating Result End of quota and mimimum beet price system in EU sugar market from 1 October 2017 makes outlook difficult Volume increase, especially exports Increase in production and distribution volumes lead to significant improvement in capacity utilization and respective cost degression effects from October 2017 Significant operating result increase expected (prev. year: 72 mn ) Südzucker Group, page 28

Segment Special Products (mn ) 2016/17 2015/16 Δ Revenues 1.819 1.791 28 1,5% EBITDA 263 246 17 6,5% EBITDA-Margin 14,4% 13,7% Operating Result 184 171 13 7,4% Operating Margin 10,1% 9,5% Restructuring and special items -4-2 -2 54,5% Result from companies consolidated at equity 28 23 5 23,1% Result from operations 208 192 16 8,7% Investments 126 131-5 -4,0% Fixed Assets 126 131-5 -4,0% Financial Assets / Acquisitions 0 0 0 Capital Employed 1.499 1.436 63 4,4% RoCE 12,2% 11,9% Südzucker Group, page 30

Segment Special Products: Overview Leading market positions in all four divisions Sustainably high cashflow quality Very good fundamental development Growth based on intact megatrends: unchanged trend to alternative and functional food ingredients further increase in demand for convenience products Unbroken global increase in demand for animal feed (e.g. Gluten) Continuous capacity adjustment follows market growth Starch** 40 % Revenue split 2016/17 PortionPack 6 % 1,819 mn Freiberger 29 % Operating Result (mn )* 171 BENEO (Functional Food) 25 % 184 85 120 * IFRS 11 adjusted since 2013/14 ** incorporates AGRANA bioethanol and starch activities 2013/14 2014/15 2015/16 2016/17 Südzucker Group, page 31

Segment Special Products: Division BENEO BENEO bundles functional food activities 5 production sites globally and international distribution network Main product categories: Prebiotic fibres from chicory roots: Core products Inulin and Oligofructose Functional carbohydrates from sugar beet: Core products Isomalt (sole sugar replacer made out of sugar) and Palatinose (functional sugar with prolonged energy allocation) Südzucker Group, page 32 Functional ingredients from rice: e.g. rice starches, rice flours and rice proteins Distribution of functional wheat protein (Gluten), produced in Südzucker Group World market leader for functional chicory- and rice products as well as for Isomalt/Palatinose Ongoing global increase in demand for functional food ingredients Increasing awareness for healthy nutrition and growing per-capita income (emerging markets) Offstein Sales Offices Regional Centers Production facility

Segment Special Products: Division Starch* 6 production sites and distribution within EU Main product categories: Zeitz (DE) Starch products: Specialty starches for paper, textile-, cosmetics-, pharmaceutical and construction industries; focus on organic and GMfree starches for food industries Bioethanol production: Bioethanol production from grain and production of by-products (food and animal feed) Aschach (A) Gmünd (A) Pischelsdorf(A) Szabadegyhaza(HU) Tandarei (RO) Leading market position in main product categories Production starch Production bioethanol Ongoing growth for speciality starches Worldwide strongly growing demand for animal feed Mandatory ethanol blending within EU High investment volume (~ 400 mn ) in current cycle: New starch factory Pischelsdorf (2013) New starch factory Zeitz (2016) Extension starch factory Aschach (2017) Extension starch factory Pischelsdorf (2020) Zeitz * incorporates AGRANA bioethanol and starch activities Südzucker Group, page 33

Segment Special Products: Division Freiberger (I) Market entry USA USA largest frozen pizza market (5.2 bn USD) worldwide with further growth potential Private label market share EU >50% Private label market share USA ~16% Acquisition of Richelieu Foods: Market leader in USA private label pizza segment ( B2B ) Main product categories: frozen and chilled pizza and pourables Revenues: ~ 300 mn (2017e) 5 production sites across the USA; distribution across the USA ~ 900 employees Purchase price: ~ 370 mn Südzucker Group, page 34 Wheeling, Illinois

Segment Special Products: Division Freiberger (II) - incl. acquisition Richelieu Foods # 1 Europe 11 production sites* in EU (6) and in USA (5); distribution in EU and USA Main product categories: Deep frozen and chilled Pizza Pasta dishes Snacks & Baguettes Pourables Mostly own label business for food retailing ( B2B ) Market leader private label pizza market in Europe and USA Employees: ~ 3,500 Pizzas per day: ~ 3.5 mn Revenues: ~ 1 bn # 1 USA Strong platform for further growth * incl. acquisition of HASA and Richelieu Foods Production facility Public Warehouses Pizza Public Warehouses Pourables Südzucker Group, page 35

Segment Special Products: Division PortionPack Europe 5 production sites in EU; distribution in EU Main product categories: Coffee supplies (sugar, milk ) Biscuits Chocolates Breakfast Seasoning Sweets & Snacks Fruit purees Other unit packed products (e.g. for hotels, etc.) European market leader for portion packs for food industry Unchanged trend for unit packed products and out-of-home consumption Telford Oud-Beijerland (NL) Landgraaf (NL) Herentals (B) Nuremberg La Llagosta Production facility Trading companies Prague Vienna Südzucker Group, page 36 Oud Beijerland (NL)

Strategy Segment Special Products BENEO Usage of global platform, open up new markets; product innovations Portion Pack Europe Extension of EU No. 1 position; expansion of product portfolio Special Products Starch Extension of successful niche strategy; increase market share via continuous capacity increase Freiberger Further internal and external growth; e.g. Richelieu Foods Südzucker Group, page 37

Segment Special Products: Outlook 2017/18 Revenues Divisions Freiberger, Beneo, starch and PortionPack with overall volume increase Moderate increase in revenues (prev. year: 1,819 mn ) Operating Result Expected lower earnings takes into account higher raw material costs and further start-up costs from new starch factory Zeitz (installed in 2016/17) Significant decrease in operating result expected (prev. year: 184 mn ) Südzucker Group, page 38

Segment CropEnergies (mn ) 2016/17 2015/16 Δ Revenues 726 658 68 10,3% EBITDA 135 122 13 10,9% EBITDA-Margin 18,6% 18,5% Operating Result 98 87 11 12,6% Operating Margin 13,4% 13,2% Restructuring and special items -4-18 14-78,3% Result from companies consolidated at equity 0 0 0 Result from operations 94 69 25 36,7% Investments 16 17-1 -4,2% Fixed Assets 16 17-1 -4,2% Financial Assets / Acquisitions 0 0 0 Capital Employed 479 490-12 -2,4% RoCE 20,4% 17,7% Südzucker Group, page 40

Segment CropEnergies: Overview 4 production sites in EU; offices/distribution sites in EU, North and South America Main product categories: Bioethanol as fuel and traditional applications (1.3 mn m³ p.a.) Food and animal feed (>1 mn t p.a.) EU market leader Megatrend renewable energy EU target 2020 transport sector: 10 % from renewable energy sources Reduction of greenhouse gas emissions Higher independency from imported oil Sustainable raw materials from European agriculture and complete utilization Houston Santiago de Chile São Paulo Rotterdam Loon-Plage Wilton Wanze Duisburg Zeitz Production facility Tank storage Distribution Südzucker Group, page 41

Segment CropEnergies: Market environment High ethanol price volatility Quotation: Wheat /t / Ethanol /m 3 Sept. 2016: All-time-low 427 /m³ End of February 2017: 640 (510) /m³ Several influencing factors Stable raw material prices in light of global harvest surplus 2016/17 World: Record harvest*: 2,119 mn t (+6 %) and record inventory level 522 mn t ( /m 3 ) 700 600 500 400 300 200 NYMEX Fuel EtOH T2 FOB Rdm. Euronext Paris Wheat No. 2 350 300 250 200 150 100 ( /t) EU: Harvest decrease to 294 mn t (-6 %); domestic consumption 284 mn t Nettorohertrag für Weizen EtOH * All grain qualities/-grades without rice Wanze Südzucker Group, page 42

EU bioethanol: Facts and myths EU bioethanol is verifiable sustainable EU: Net exports (+) / -imports (-) Raw material base: 99.7 % from EU cultivation land grabbing a myth without base EU: Grain surplus and protein deficit Without EU ethanol: Negative for climate and agriculture More fossil fuel in transport sector Food supply: unchanged Unbalanced export/import: increase 50 25 0-25 soybean meal soybean palm oil coarse grains wheat -50 EU bioethanol: more than climate protection > 50,000 direct and indirect jobs Agricultural area EU Source: EU-Commission, DG Agri > 8 bn investments since 2008 > 2 bn p.a. agricultural raw material from rural European regions 33% 7% crops w/o ethanol ethanol crops 59% permanent grassland permanent crops Südzucker Group, page 43 1% Sources: Eurostat (2017), epure

Market development: EU fuel ethanol 2016: Decrease by 3 % to 5.2 mn m³ G: Unchanged 1.5 mn m³ F: Increase by 4 % to 840,000 m³ UK: Decrease by 5 % to 760,000 m³ Outlook 2017: Increase by 2 % to 5.3 mn m³ EU countries prepare for 2020 EU targets 70% 65% 60% 55% 50% 45% 40% 7.500 6.000 Average GHG savings induced by ethanol from European producers 50% 55% 57% 59% 64% 66% 2011 2012 2013 2014 2015 2016 Source: epure EU: Consumption fuel ethanol (1,000 m³) Other EU Südzucker Group, page 44 4.500 3.000 1.500 0 2015 2016 2017e France UK Germany Source: F.O. Licht

EU: Target 2020 and draft 2030 ( climate and energy pact ) Transport target 2020: 10 % renewable energy Draft 2030 for RED II* (Renewable Energies Directive): Südzucker Group, page 45 EU global target: overall 27% renewable energies But no specific target for transport sector, instead Max. 3.8 % fuels from arable crops Min. 3.6 % advanced fuels About 3.2 % other fuels/energy sources Draft puts decarbonization at risk Capacities for advanced and a target for transport are missing Development, investment and growth of alternative fuels need stable basis for fuels from arable crops * EU-Commission, November 2016 10 % 8 % 6 % 4 % 2 % 0 % Share renewable energy in transport sector 2005 2007 2009 2011 2013 2015 Source: Eurostat (2017) EU targets and production capacity (mn m³) 15 10 5 0 1,8 % crop-based biofuels max. 7% physical multiple counting target 3,1 % 4,6 % max. 3.8 % 5,7 % 6,4 % Installed capacites min. 3.6% RES-T: 10% food/feed crops "advanced" fuels 2020 RED-II proposal for 2030 7,1 % Sources: F.O. Licht, own calculations

Strategy Segment CropEnergies Further efficiency gains Strengthen leading market position Expand multi-site approach CropEnergies Full usage of production capacities Expand diversification Enforce R & D activities Südzucker Group, page 46

Segment CropEnergies: Outlook 2017/18 Revenues Following efficiency gains at Ensus, flexible usage of total production capacity possible Ongoing high capacity usage Revenues expectation 800 bis 840 Mio. (prev. year: 726 mn ) Operating Result Bioethanol prices expected below previous year s level in light of ongoing volatility Operating result expected in range 60 to 90 mn (prev. year: 98 mn ) Südzucker Group, page 47

Segment Fruit (mn ) 2016/17 2015/16 Δ Revenues 1.155 1.083 72 6,6% EBITDA 110 102 8 8,2% EBITDA-Margin 9,5% 9,4% Operating Result 72 62 10 16,0% Operating Margin 6,2% 5,7% Restructuring and special items 0-3 3-100,0% Result from companies consolidated at equity 0 0 0 Result from operations 72 59 13 22,1% Investments 80 42 38 90,2% Fixed Assets 34 42-8 -18,9% Financial Assets / Acquisitions 46 0 46 Capital Employed 866 823 42 5,2% RoCE 8,3% 7,5% Südzucker Group, page 49

Segment Fruit: Fruit preparations Division fruit preparations 26 production sites globally; distribution in more than 70 countries Main product categories: Dairy products Ice cream Baking Food service industry World market leader in fruit preparations (market share >30%) Unique global structure for sourcing, production and distribution Production facility Südzucker Group, page 50

Segment Fruit: Fruit juice concentrates Division fruit juice concentrates 14 production sites in Europe and one in China Main product categories: Fruit juice concentrates Beverage compounds Fruit Wines Flavouring NFC-Juices European market leader for fruit juice concentrates Trend towards fruit juices and bioproducts unchanged Production facility Südzucker Group, page 51

Strategy Segment Fruit Further usage of global growth trends Usage of internal/external growth options Exploitation of shared group customer base Fruit Development of innovations Market entry India / second factory China Further cost saving measures Südzucker Group, page 52

Segment Fruit: Outlook 2017/18 Revenues Division fruit preparations with increase in revenues in light of higher volumes Division fruit juice with revenues increase as well Moderate revenues increase (prev. year: 1,155 mn ) Operating Result Divisions fruit preperations and fruit juice concentrates with earnings increase Operating result above previous year s level expected (prev. year: 72 mn ) Südzucker Group, page 53

Group income statement 1 st half year (mn ) 2017/18 2016/17 +/- in % Revenues 3.493 3.205 9,0 EBITDA 392 310 26,5 EBITDA margin 11,2% 9,7% Depreciation -110-101 9,4 Operating result 282 209 34,7 Operating margin 8,1% 6,5% Restructuring costs/special items -4-10 -59,2 Result from companies consolidated at equity 17 24-28,6 EBIT 295 223 32,2 Net earnings attributable to shareholders 128 108 19,1 Earnings per share ( ) 0,63 0,53 18,9 Cash flow 349 268 30,2 Investments in fixed assets* 155 143 8,8 Net financial debt 248 492-49,6 Employees 18.030 17.649 2,2 * Including intangible assets Südzucker Group, page 55

Financial Highlights H1 2017/18 Group revenues increased 9 % to 3,493 (3,205) million EBITDA increased 27 %, respectively by 82 million, to 392 (310) million Operating result increased 35 %, respectively by 73 million, to 282 (209) million Cash flow increased 30 % to 349 (268) million Earnings per share increased to 0.63 (0.53) Net financial debt decreased by 244 million to 248 (492) million ; as % of equity 5 (11) % Südzucker Group, page 56

Summary segments H1 2017/18 2 nd quarter 1 st half year (mn ) 2017/18 2016/17 abs. % 2017/18 2016/17 abs. % Sugar Special Prod. CropEnergies Fruit Group Revenues 739 687 52 7,6 1.516 1.382 134 9,8 Operating result 47 18 29 > 100 111 40 71 > 100 Revenues 468 448 20 4,5 949 905 44 4,9 Operating result 39 42-3 -6,7 80 88-8 -9,1 Revenues 214 164 50 29,9 428 313 115 36,5 Operating result 24 22 2 10,2 47 41 6 15,4 Revenues 289 298-9 -2,9 600 605-5 -0,9 Operating result 18 17 1 8,9 44 40 4 8,5 Revenues 1.710 1.597 113 7,1 3.493 3.205 288 9,0 Operating result 128 99 29 29,6 282 209 73 34,7 Südzucker Group, page 57

Segment Sugar: Development H1 2017/18 2 nd quarter 1 st half year (mn ) 2017/18 2016/17 +/- in % 2017/18 2016/17 +/- in % Revenues 739 687 7,6 1.516 1.382 9,8 EBITDA 61 32 87,0 142 68 > 100 EBITDA margin 8,4% 4,8% 9,4% 4,9% Depreciation -14-14 2,9-31 -28 10,8 Operating result 47 18 > 100 111 40 > 100 Operating margin 6,4% 2,8% 7,3% 2,9% Revenues: Operating Result: Increase mainly driven by higher sugar sales revenues. Declining volume in the EU was more than offset by higher export volumes. Main driver was higher sugar sales revenues during H1. Higher quota sugar sales revenues since the beginning of the 2016/17 sugar marketing year in October 2016 and higher sales revenues for non-quota sugar during H1 continued to have an impact. Südzucker Group, page 58

Segment Special Products: Development H1 2017/18 2 nd quarter 1 st half year (mn ) 2017/18 2016/17 +/- in % 2017/18 2016/17 +/- in % Revenues 468 448 4,5 949 905 4,9 EBITDA 61 61 1,3 123 125-1,6 EBITDA margin 13,0% 13,4% 12,9% 13,8% Depreciation -22-19 19,4-43 -37 16,3 Operating result 39 42-6,7 80 88-9,1 Operating margin 8,3% 9,3% 8,4% 9,7% Revenues: Operating result: Steadily positive volume development in all divisions. Ethanol sales revenues were higher than last year, while the lower value of the British pound weighed on the final number. Still on a high level, but expected decline in comparison to extraordinary strong previous year s level; especially in light of increase in raw material prices and higher depreciations on new factories. Südzucker Group, page 59

Segment CropEnergies: Development H1 2017/18 2 nd quarter 1 st half year (mn ) 2017/18 2016/17 +/- in % 2017/18 2016/17 +/- in % Revenues 214 164 29,9 428 313 36,5 EBITDA 34 31 8,1 66 59 12,5 EBITDA margin 15,7% 18,9% 15,6% 18,9% Depreciation -10-9 3,2-19 -18 6,1 Operating result 24 22 10,2 47 41 15,4 Operating margin 11,1% 13,1% 11,1% 13,1% Revenues: Operating result: Significant increase mainly due to higher production and sales volumes in light of restart of the production plant Wilton, Great Britain, in the second quarter last year. Ethanol sales revenues were also higher than last year. Significant increase due to positive revenues development. The negative impacts of higher raw material prices, operating costs from the startup of the plant in Wilton and scheduled inspection and maintenance work at all sites were more than offset. Südzucker Group, page 60

Segment Fruit: Development H1 2017/18 2 nd quarter 1 st half year (mn ) 2017/18 2016/17 +/- in % 2017/18 2016/17 +/- in % Revenues 289 298-2,9 600 605-0,9 EBITDA 27 26 3,1 61 58 4,8 EBITDA margin 9,3% 8,8% 10,1% 9,6% Depreciation -9-9 -7,5-17 -18-3,4 Operating result 18 17 8,9 44 40 8,5 Operating margin 6,4% 5,7% 7,3% 6,6% Revenues: Operating result: Lower sales revenues for apple juice concentrates were offset by higher volumes and higher sales revenues in the fruit preparations division. Further positive development. Higher sales revenues and volumes led to higher margins in division fruit preparations, while in the fruit juice concentrates division, lower raw material costs countered lower sales revenues. Südzucker Group, page 61

Income statement (I) 1 st half year (mn ) 2017/18 2016/17 +/- in % Revenues 3.493 3.205 9,0 Operating result 282 209 34,7 Restructuring costs/special items -4-10 -59,2 Result from companies consolidated at equity 17 24-28,6 Result from operations 295 223 32,2 Financial result -18-18 0,0 Earnings before income taxes 277 205 35,3 Result from companies consolidated at equity: Sugar segment -2 (11) million related to its share of ED&F Man, Studen Group and the joint-venture distributor Maxi. Special products segment 19 (13) million for its share of earnings from Hungrana Group's starch and bioethanol businesses. Financial result: Financial result -18 (-18) million ; contains net interest result of -14 (-13) million and other financial result of -4 (-5) million. Südzucker Group, page 62

Income statement (II) 1 st half year (mn ) 2017/18 2016/17 +/- in % Earnings before income taxes 277 205 35,3 Taxes on income -72-50 44,2 Net earnings for the year 205 155 32,4 of which attributable to Südzucker AG shareholders 128 108 19,1 of which attributable to hybrid capital 7 7-2,9 of which attributable to minority interests 70 40 75,1 Earnings per share ( ) 0,63 0,53 18,9 Taxes on income: Tax rate was 26 % (24) % Minority interests: Mainly attributable to the co-owners of AGRANA Group and CropEnergies Group Earnings per share (EPS): Increased to 0.63 (0.53 ) Südzucker Group, page 63

Cash flow statement 1 st half year (mn ) 2017/18 2016/17 +/- in % Cash flow 349 268 30,2 Increase (-)/ Decrease (+) in working capital 176 76 > 100 Investments in fixed assets Sugar segment 75 71 4,2 Special products segment 53 56-4,8 CropEnergies segment 12 6 > 100 Fruit segment 15 10 56,1 Total investments in fixed assets * 155 143 8,8 Investments in financial assets/acquisitions 48 31 54,0 Total investments 203 174 16,9 Dividends paid -154-105 47,0 * incl. investments in intangible assets Cash flow: Cash flow at 349 (268) million and came in at 10.0 (8.4) % of revenues. Working Capital: Cash inflow of 176 million resulting mainly from decrease in inventories in H1, which exceeded 2016/17 campaign beet liabilities paid. Investments in fixed assets: Continuation of already communicated projects Investments in financial assets: Contains mainly acquisition of pizza producer HASA in July 2017 Südzucker Group, page 64

Balance sheet (mn ) 31 August 2017 31 August 2016 +/- in % Assets Non-current assets 4.802 4.642 3,5 Current assets 3.449 3.119 10,6 Total assets 8.251 7.761 6,3 Liabilities and shareholders' equity Shareholders' equity 4.929 4.437 11,1 Non-current liabilities 1.653 1.889-12,5 Current liabilities 1.669 1.435 16,3 Total liabilities and shareholders' equity 8.251 7.761 6,3 Net financial debt 248 492-49,6 Equity ratio 60% 57% Net financial debt in percent of equity (gearing) 5% 11% Non-current liabilities: Decrease by 236 million. Main drivers: Reduction of pension liabilities, recognition of bond 2011/2018 due in March as a current liability, redemption of bank liabilities. Current liabilities: Increase by 234 million. Without recognition of bond 2011/2018 with book value of 399 million - current liabilities would have been significantly reduced. Net financial debt: Reduction by 244 million. Investments in fixed and financial assets and earnings distribution were fully financed by cash flow and cash inflow from changed working capital. Südzucker Group, page 65

Outlook 2017/18 (I)*: Revenues and Operating Result Revenues 2016/17 2017/18e Operating Result 2016/17 2017/18e Sugar 2.8 bn 72 mn Special Products 1.8 bn 184 mn CropEnergies 726 mn 800-840 mn 98 mn 60-90 mn Fruit 1.2 bn 72 mn > prev. year Group 6.5 bn 6.7-7.0 bn 426 mn 425-500 mn * excl. Richelieu Foods; transaction closing expected until end of calender year 2017 Südzucker Group, page 67

Outlook 2017/18 (II)*: Other key figures 2016/17 2017/18e EBITDA 709 mn 725 800 mn Depreciation 283 mn > prev. year Investments Fixed Assets 329 mn ~ 350 mn Net Financial Debt 413 mn 300 400 mn * excl. Richelieu Foods Südzucker Group, page 68

Outlook 2017/18 (III)*: Other key figures 2016/17 2017/18e RoCE 7.1 % > prev. year Cash flow 634 mn > prev. year Cash flow / Revenues 9.8 % > prev. year Equity ratio 56.0 % > prev. year * excl. Richelieu Foods Südzucker Group, page 69

Outlook 2017/18 (IV)*: Further improvement of financial key figures 1,632 Net Financial Debt Cash Flow mn 504 1,065 553 854 606 791 823 464 996 536 697 593 389 555 480 413 634 300-400 > prev. year 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18e NFD/CF Equity Ratio 3.2x 42 % 1.9x 1.4x 1.0x 0.5x 0.8x 1.5x 1.2x 0.7x 0.5-0.6x 47 % 51 % 48 % 54 % 53 % 53 % 55 % 56 % > prev. year * IFRS 11 adjusted since 2013/14; excl. Richelieu Foods Südzucker Group, page 70

Summary (I) Sugar Special Products CropEnergies Fruit From October 2017: Volume increase and cost degression effects Good starting point: Leading market position and flexible raw material price model FY 2017/18: Significant earnings increase expected (prev. year: 72 mn ) Raw material price increase and further start-up costs factory Zeitz FY 2017/18: Significant earnings decrease (prev. year: 184 mn ), against very high level in 2016/17, still high cashflow quality Despite ongoing volatile ethanol prices, still high earnings level expected FY 2017/18: Expected earnings range 60-90 mn (prev. year: 98 mn ) FY 2017/18: Further revenues and earnings increase expected (prev. year: 72 mn ) Group Well diversified portfolio Increasing profitability Confirmation of high cashflow quality Strong financial and rating ratios Südzucker Group, page 71

Summary (II) Südzucker Portfolio benefits from global megatrends, leading to increase in demand for food and animal feed products Strengthening of market position on domestic and export markets Focus on core competences of large scale processing of agricultural raw material and the associated logistics Well balanced risk profile via diversified portfolio and usage of synergies, e.g. multi-site approach Strengthening of sustainable cashflow power via solid financing strategy Assurance of future growth via targeted value-oriented investments Sustainable increase of shareholder value Südzucker Group, page 72

Long-term development (I)*: Group (mn ) 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18e Revenues 5.780 5.871 5.718 6.161 6.992 7.879 7.533 6.778 6.387 6.476 6.7-7.0 EBITDA 489 489 645 775 1.015 1.246 889 453 518 709 725-800 EBITDA-Margin 8,5% 8,3% 11,3% 12,6% 14,5% 15,8% 11,8% 6,7% 8,1% 10,9% Operating Result 233 258 403 521 751 972 622 181 241 426 425-500 Operating Margin 4,0% 4,4% 7,0% 8,5% 10,7% 12,3% 8,3% 2,7% 3,8% 6,6% Income from operations (EBIT) 189** 345 392 513 759 955 554 159 277 441 Earnings before income taxes (EBT) 120 232 348 443 660 866 491 127 227 407 Net earnings 100 183 276 346 515 734 387 74 181 312 thereof to SZ AG shareholders 19 162 200 252 377 592 280 20 109 214 Market capitalization 2.746 2.587 3.230 3.768 4.117 6.850 4.114 2.782 2.834 4.921 Closing price on February 28/29 14,50 13,66 17,06 19,90 21,75 33,55 20,15 13,63 13,88 24,10 Earnings per share ( ) 0,10 0,86 1,06 1,33 1,99 3,08 1,37 0,10 0,53 1,05 Dividend per share ( ) 0,40 0,40 0,45 0,55 0,70 0,90 0,50 0,25 0,30 0,45 Cash flow 498 504 553 606 823 996 697 389 480 634 >prev. Year Investments total 550 424 233 251 286 521 399 387 371 493 ~ 350 Capital Employed 5.005 4.923 5.374 5.314 5.707 5.950 5.873 5.877 5.791 6.012 >prev. Year RoCE 4,7% 5,2% 7,5% 9,8% 13,2% 16,3% 10,6% 3,1% 4,2% 7,1% >prev. Year Total Assets 7.917 7.709 7.398 7.260 8.289 8.806 8.663 8.474 8.133 8.736 Equity 3.299 3.230 3.443 3.687 3.970 4.731 4.625 4.461 4.473 4.888 Equity Ratio 41,7% 41,9% 46,5% 50,8% 47,9% 53,7% 53,4% 52,6% 55,0% 56,0% >prev. Year Net Financial Debt (NFD) 1.508 1.632 1.065 854 791 464 536 593 555 413 300-400 Gearing (NFD/Equity) 45,7% 50,5% 30,9% 23,2% 19,9% 9,8% 11,6% 13,3% 12,4% 8,4% NFD/Cash flow 3,0x 3,2x 1,9x 1,4x 1,0x 0,5x 0,8x 1,5x 1,2x 0,7x 0,5-0,6x *** * IFRS 11 adjusted; since 2013/14 income from companies consolidated at equity included in EBIT; excl. Richelieu Foods ** Extraordinary impact from Goodwill impairment loss *** Investments in Fixed Assets Südzucker Group, page 74

Long-term development (II)*: Segments Segment Sugar (mn ) 2012/13 2013/14 2014/15 2015/16 2016/17 Revenues 4.232 3.901 3.228 2.855 2.776 EBITDA 830 558 133 48 201 EBITDA-Margin 19,6% 14,3% 4,1% 1,7% 7,3% Operating Result 708 437 7-79 72 Operating Margin 16,7% 11,2% 0,2% -2,7% 2,6% Restructuring and special items 6-113 -7 4-12 Income from operations (EBIT) 714 344-5 -43 67 Investments 384 219 186 181 271 Fixed Assets 203 197 186 181 153 Financial Assets 181 22 0 0 118 Capital Employed 3.158 3.186 3.199 3.041 3.169 RoCE 22,4% 13,7% 0,2% -2,6% 2,3% Segment Special Products (mn ) 2012/13 2013/14 2014/15 2015/16 2016/17 Revenues 1.862 1.740 1.724 1.791 1.819 EBITDA 214 156 192 246 263 EBITDA-Margin 11,5% 9,0% 11,2% 13,7% 14,4% Operating Result 132 85 120 171 184 Operating Margin 7,1% 4,9% 7,0% 9,5% 10,1% Restructuring and special items -4 4-3 -2-4 Income from operations (EBIT) 128 118 144 192 208 Investments 91 110 126 131 126 Fixed Assets 89 110 125 131 126 Financial Assets 2 0 1 0 0 Capital Employed 1.390 1.343 1.377 1.436 1.499 RoCE 9,5% 6,3% 8,7% 11,9% 12,2% Segment CropEnergies (mn ) 2012/13 2013/14 2014/15 2015/16 2016/17 Revenues 645 720 764 658 726 EBITDA 119 69 25 122 135 EBITDA-Margin 18,5% 9,5% 3,3% 18,5% 18,6% Operating Result 87 35-11 87 98 Operating Margin 13,5% 4,9% -1,5% 13,2% 13,4% Restructuring and special items 0-6 -28-18 -4 Income from operations (EBIT) 87 28-39 69 94 Investments 11 18 32 17 16 Fixed Assets 11 18 32 17 16 Financial Assets 0 0 0 0 0 Capital Employed 502 544 518 490 479 RoCE 17,3% 6,4% -2,2% 17,7% 20,4% Segment Fruit (mn ) 2012/13 2013/14 2014/15 2015/16 2016/17 Revenues 1.140 1.172 1.062 1.083 1.155 EBITDA 83 106 103 102 110 EBITDA-Margin 7,3% 9,0% 9,8% 9,4% 9,5% Operating Result 45 65 65 62 72 Operating Margin 4,0% 5,5% 6,1% 5,7% 6,2% Restructuring and special items -19-1 -6-3 0 Income from operations (EBIT) 26 64 59 59 72 Investments 35 52 43 42 80 Fixed Assets 35 52 43 42 34 Financial Assets 0 0 0 0 46 Capital Employed 900 801 782 823 866 RoCE 5,0% 8,1% 8,4% 7,5% 8,3% * IFRS 11 adjusted; since 2013/14 income from companies consolidated at equity included in EBIT; excl. Richelieu Foods Südzucker Group, page 75

Financing maturity profile (as of 28 November 2017) March 2018 4.125 % Bond 2011/2018, 400 mn April 2019/22 Agrana promissory notes, 43 mn 2018/20/21 Syndicated loans, 1.050 mn Drawn lines: 0 mn November 2023 1.25 % Bond 2016/2023, 300 mn November 2025 Perpetual Perpetual 1.00 % Bond 2017/2025, 500 mn Hybrid Bond 2005/perpetual, 700 mn Issuer call right since 30 June 2015 at the earliest. Pursuant to 6 (5) and (6) of conditions of issue the exercise of the call right is subject to having issued, within the twelve month preceding the redemption becoming effective, replacement capital (parity and/or junior securities and/or shares) against issue proceeds at least equal to the amounts payable upon redemption. Commercial Paper-Program, perpetual, 600 mn Drawn lines: 0 mn Südzucker Group, page 76

Hybrid bond: 2016/17 cash flow covenant* safely achieved (mn ) 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18e Revenues 5.780 5.871 5.718 6.161 6.992 7.879 7.533 6.778 6.387 6.476 6,7-7,0 Cash flow 498 504 553 606 823 996 697 389 480 634 > prev. year Cash flow / Revenues 8,6% 8,6% 9,7% 9,8% 11,8% 12,6% 9,3% 5,7% 7,5% 9,8% > prev. year. * IFRS 11 adjusted since 2013/14 Cash flow covenant (cash flow / revenues >5 %) so far significantly exceeded Cash flow covenant fulfillment also expected in 2017/18 Options for hybrid bond 2005 (depending on continuous financial planning): Since 30 June 2015: quarterly variable interest payment, 3M Euribor plus 3.10 % p.a. Period from 29 September 2017 to 29 December 2017 (excl.), rate of remuneration fixed at 2.771 % p.a. Since 30 June 2015, bond can be called and redeemed on quarterly basis at nominal value (according to 6 (5) & (6) of the terms and conditions) Precondition to use issuer call right is replacement through new hybrid or equity capital within 12 months A bond repurchase also partially is possible at any time Still preferred option: No call of hybrid bond Südzucker Group, page 77

Liquidity profile end of period* (mn ) Q2 2017/18 Q1 2017/18 Q4 2016/17 Q3 2016/17 Q2 2016/17 Net financial debt -248-443 -413-402 -492 Cash & Cash equivalents / securities 827 729 725 861 632 Gross financial debt -1.075-1.172-1.138-1.263-1.124 Long-term financial debt -539-553 -914-998 -706 Short-term financial debt -535-619 -224-265 -418 Bank credit lines 767 789 786 786 785 undrawn 436 390 464 419 334 Syndicated loan 600 600 600 600 600 undrawn 600 600 600 600 600 Syndicated loan Agrana 450 450 450 450 450 undrawn 440 440 450 411 365 Commercial paper program 600 600 600 600 600 undrawn 600 570 600 600 570 Bank credit lines (undrawn) 436 390 464 419 334 + Cash & cash equivalents / securities 827 729 725 861 632 + Syndicated loan (undrawn) 1.040 1.040 1.050 1.011 965 + Commercial paper (undrawn) 600 570 600 600 570 = Total liquidity reserves 2.903 2.729 2.839 2.891 2.501 * IFRS 11 adjusted Südzucker Group, page 78

Group balance sheet (mn ) 28.02.2017 29.02.2016 (mn ) Intangible assets 1.240 14,2% 1.189 14,6% Fixed assets 2.922 33,5% 2.825 34,7% Shares in companies consolidated at equity 433 5,0% 333 4,1% Other investments and loans 24 0,3% 22 0,3% Securities 19 0,2% 19 0,2% Receivables and other assets 10 0,1% 14 0,2% Deferred tax assets 132 1,5% 133 1,6% Non-current assets 4.780 54,7% 4.534 55,7% Inventories 2.053 23,5% 1.897 23,3% Trade receivables and other assets 1.176 13,5% 1.081 13,3% Current tax receivables 21 0,2% 36 0,4% Securities 126 1,4% 126 1,5% Cash and cash equivalents 581 6,6% 459 5,6% Current assets 3.956 45,3% 3.599 44,3% 28.02.2017 29.02.2016 Equity attributable to shareholders of SZ AG 3.347 38,3% 3.158 38,8% Hybrid capital 653 7,5% 653 8,0% Other minority interest 888 10,2% 661 8,1% Shareholder's equity 4.888 53,4% 4.473 55,0% Provisions for pensions and similar obligations 823 9,4% 798 9,8% Other provisions 92 1,0% 103 1,3% Non-current financial liabilities 917 10,5% 734 9,0% Other liabilities 24 0,3% 16 0,2% Tax liabilities 103 1,2% 99 1,2% Deferred tax liabilities 81 0,9% 62 0,8% Non-current liabilities 2.040 23,4% 1.811 22,3% Other provisions 233 2,7% 209 2,6% Current financial liabilities 221 2,5% 425 5,2% Trade payables and other liabilities 1.304 14,9% 1.156 14,2% Current tax liabilities 49 0,6% 61 0,7% Current liabilities 1.807 20,7% 1.850 22,7% Total assets 8.736 100,0% 8.133 100,0% Total liabilities and shareholders' equity 8.736 100,0% 8.133 100,0% Südzucker Group, page 79

Revenue by region 2016/17 Rest of world (18 %) Germany (23 %) 6,476 mn EU 13 (14 %) EU 15 (45 %) Revenues share financial year 2016/17 by region in %: EU 15: EU-member states in Central-, Western- and Southern Europe (excl. Germany) EU 13: EU-member states in Eastern Europe Rest of the world: Europe (outside EU), America, Africa, Asia, Oceania Südzucker Group, page 81

World sugar market unchanged sustainable growth 350 300-350 mn t** 250 mn t** 200 10 150 5 100 0 50 5 0 10 Surplus/Defict* (right scale) Total Production* (left scale) Consumption* (left scale) * Source: F.O. Licht ** FAO-estimate Südzucker Group, page 82

Global sugar market: Supply and demand Canada -1.07 USA -2.60 Mexico +1.41 Guatemala +2.02 Colombia +0.51 Cuba +1.00 Venezuela -0.57 Brazil +27.65 EU -1.53 Morocco -0.86 Algeria -1.50 Nigeria -1.62 Israel -0.61 Egypt -1.07 Sudan -1.05 Syria -0.52 Iran Pakistan -0.72 +0.54 Saudi Arabia -1.40 China -3.62 Japan -1.25 S. Korea India -1.25-1.40 Thailand Bangladesh +7.03-2.20 Malaysia -1.72 Indonesia -4.07 Surplus areas Chile -0.64 Swaziland +0.63 Australia +3.89 Deficit areas Source: International Sugar Organisation (ISO) Only countries with deficits/surpluses above 500k tonnes are marked (2016/17) Südzucker Group, page 83

EU sugar balance mn t 09/10 10/11 11/12 12/13 13/14 14/15 15/16 Ø 7 years 16/17e Production EU 18.2 16.2 19.4 18.1 17.6 20.3 15.7 17.9 17.6 from beet 17.5 15.4 18.7 17.4 16.8 19.5 14.9 17.2 16.8 From maize 0.7 0.7 0.7 0.7 0.7 0.8 0.8 0.7 0.8 Import 2.5 3.6 3.5 3.7 3.2 2.8 2.9 3.2 2.9 Import white sugar EU Refining of imported raw sugar 0.6 1.1 0.9 1.0 0.8 0.7 n.a. 0.9 n.a. 1.9 2.6 2.7 2.7 2.5 2.2 n.a. 2.4 n.a. Export 2.2 0.8 2.1 1.4 1.4 1.5 1.4 1.5 1.5 Consumption 18.9 19.4 19.6 19.6 20.0 20.2 19.3 19.6 19.7 Ending stock 1.6 1.2 2.4 3.2 2.6 4.0 1.9 2.4 1.3 Südzucker Group, page 84 Source: EU-Commission

Ranking global sugar market Ø 10 years Vol. % Vol. % Vol. % Topproducer Topconsumer Top-netexporter Top-netimporter Vol. % Brazil 37,808 22.0 India 25,123 14.8 Brazil 25,493 52.4 Indonesia 3,304 7.0 India 24,454 14.8 EU 19,018 11.2 Thailand 6,440 13.2 China 3,211 6.8 EU 17,099 10.0 China 15,782 9.3 Australia 3,272 6.7 USA 2,804 6.0 China 12,568 7.3 Brazil 12,298 7.2 Guatemala 1,800 3.7 Bangladesh 1,792 3.8 Thailand 9,683 5.6 USA 10,465 6.1 Mexico 1,170 2.4 Malaysia 1,541 3.3 USA 7,650 4.5 Indonesia 5,991 3.5 Cuba 796 1.6 Nigeria 1,468 3.1 Mexico 5,940 3.5 Russia 6,000 3.5 Swaziland 629 1.3 EU 1,907 4.1 Russia 4,558 2.7 Pakistan 4,790 2.8 Pakistan 264 0.5 Algeria 1,293 2.8 Pakistan 5,045 2.9 Mexico 4,740 2.8 Colombia 574 1.2 Korea, South 1,410 3.0 Australia 4,570 2.7 Egypt 3,184 1.9 El Salvador 394 0.8 Saudi Arabiia 1,242 2.6 Total 171,509 100 Total 170,323 100 Total 48,684 100 Total 47,004 100 Duty free access into EU Südzucker Group, page 85 Source: F.O. Licht

Segment Sugar: Campaign 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17 Beet growers 62,300 59,200 47,600 46,000 44,600 43,000 42,600 42,100 41,300 40,300 39,000 Beet acreage 444,900 438,500 370,000 401,000 388,000 412,000 422,000 396,000 405,000 350,000 385,000 Sugar factories (incl. refineries) 42 41 33 32 32 32 32 32 32 31 31** Beet processing* Campaign duration Sugar production* thereof from beets* thereof raw sugar raffination* 27.5 28.2 25.0 28.4 26.1 31.3 28.7 27.2 34.0 23.7 28.6 86 88 96 116 103 123 112 102 127 89 107 4.6 4.6 4.2 4.8 4.2 5.4 4.9 4.7 5.3 4.1 4.7 4.2 4.3 3.9 4.4 3.9 4.9 4.5 4.3 5.0 3.8 4.4 0.4 0.3 0.3 0.4 0.3 0.5 0.4 0.5 0.3 0.4 0.2 *in mn t **incl. 2 refineries Südzucker Group, page 86

Price development for raw and white sugar (ICE US, LIFFE) 700 700 600 600 500 400 300 500 400 300 200 100 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15 Quotation for sugar in / ton Quotation for sugar in / ton Feb-16 Feb-17 200 100 White sugar contract No. 5 LIFFE London (Future contract switching upon expiry) Raw sugar contract No. 11 ICE US (Future contract switching upon expiry) Südzucker Group, page 87

Price development wheat and maize (Euronext) 300 300 280 280 260 260 240 240 220 220 200 200 180 160 140 120 100 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Feb-11 Feb-12 Feb-13 Feb-14 / ton / ton Feb-15 Feb-16 Feb-17 180 160 140 120 100 Wheat price (Future contract switching upon expiry) Price for maize (Future contract switching upon expiry) Südzucker Group, page 88

Disclaimer This presentation contains forward looking statements. The statements are based on current assumptions and estimates made by the executive board and information currently available to its members. The forward looking statements are not to be viewed as guarantees of the future developments and results presented therein. Future developments and results are in fact dependent on a variety of factors and are subject to various risks and imponderables. They are based on assumptions that could in fact prove to be invalid. The risk management report in the 2016/17 annual report on pages 88 to 99 presents an overview of the risks. We assume no obligation to update the forward-looking statements made in this presentation. This presentation includes percentage and number rounding. Typing and printing errors reserved. IFRS 11 application as of financial year 2013/14. Written and visual value statements are standardized as follows: ±1% stable / ±1-4% slight / ± 4-10% moderate / >/< 10% significant Südzucker Group, page 89