Agricultural Solutions

1st Quarter 2015

• Higher contributions from Europe and North America lead to considerable growth in sales and volumes
• Considerable earnings increase as a result of higher volumes and prices as well as positive currency effects

We posted considerable earnings growth in the Agricultural Solutions segment in the first quarter of 2015. This was supported by increased sales in Europe and North America. We raised volumes in all indications. Positive currency effects and higher prices additionally boosted this sales growth (volumes 6%, prices 4%, currencies 5%).

In Europe, sales were considerably higher than in the same quarter of the previous year. We observed high demand earlier than expected, particularly for cereal fungicides in western Europe. Our business was very positive, especially in the United Kingdom and Germany. We were able to more than compensate for negative currency effects by increasing volumes and prices.

Sales rose considerably in North America, as well, largely supported by the strong U.S. dollar. We increased volumes and prices for herbicides, especially in our Kixor^® and dicamba businesses.

Sales in Asia matched the level of the previous first quarter. Growth in China and Australia, together with positive currency effects, were able to offset the decline in Japan, where the previous first quarter had seen an extraordinarily sharp rise in sales. This had arisen from the increase in value-added tax in April 2014, which was responsible for advance purchases on the part of our customers.

Sales in South America remained slightly below the level of the first quarter of 2014. In Brazil, fungicide volumes declined mainly because of a lower incidence of fungal infections, and volumes of insecticides decreased on account of competition from generic products.

We considerably improved income from operations before special items. Increased volumes and prices, as well as favorable exchange rate developments, were decisive here.