BayWa AG Annual General Meeting: Shareholders support Board of Management and Supervisory Board’s transformation strategy

Press release

Number: 02024-PIU09 | Date 11 June 2024

BayWa AG Annual General Meeting: Shareholders support Board of Management and Supervisory Board's transformation strategy

• All proposed resolutions adopted
• "Strategy 2030" to make BayWa AG profitable and fit for the future
• CEO Marcus Pöllinger: "We are rethinking the BayWa Group"

Munich, 11 June 2024 - BayWa AG held its Annual General Meeting in Munich, Germany, today. At it, the shareholders voiced their support for the transformation strategy spearheaded by the Board of Management and the Supervisory Board, which is intended to quickly return the BayWa Group to profitability and make it fit for the future. All of the proposed resolutions were adopted, including the proposal by the Board of Management and Supervisory Board not to distribute a dividend for the financial year 2023.

"It wouldn't have made sense to pay a dividend from the company's assets," said BayWa CEO Marcus Pöllinger in front of 1,200 guests during his speech at the International Congress Centre Messe München. "But I can assure you: we are working on a dividend strategy and are doing everything we can to avoid having to share such news with you ever again."

BayWa AG closed the financial year 2023 with operating earnings of €304.0 million, just below the full-year guidance. The rapid rise in interest rates and the disproportionately high increase in the tax rate compared to the previous year had a negative impact on earnings across all business divisions. After interest and taxes, the consolidated net loss for the year stood at €93.4 million.

"Strategy 2030": Invest, optimise, review

"Last year's figures are simply not satisfactory, neither for us as a company nor for you as shareholders," Pöllinger said, adding: "That's why we will rethink the BayWa Group, without abandoning our values and traditions. We have proven many times in the company's history that we can continue to evolve. I am very confident that we will considerably improve the result this year."

Press release

Pöllinger also used the Annual General Meeting to explain the key points of his "Strategy 2030" to shareholders: "Rather than put off measures, we are taking action. We are actively managing our portfolio and defining areas for growth, optimisation and divestment. In concrete terms, that means we are investing in areas with a future. We are optimising our core business. We are divesting affiliated companies to strengthen our equity ratio."

BayWa's growth areas include international grain and speciality trading, as well as renewable energies. In 2023, the Group initiated efficiency-boosting measures in other areas such as construction, agriculture and agricultural equipment, which will have a positive impact on the consolidated net result for the current financial year. The divestment areas include solar module trading.

The speech by CEO Marcus Pöllinger and additional material on the 2024 Annual General Meeting have been published on the BayWa AG website at https://www.baywa.com/investor- relations/hauptversammlung/hauptversammlung.

BayWa CEO Marcus Pöllinger © BayWa AG, reprints free of charge

More information is available at www.baywa.com/press.

Print-ready press photos, footage material and video statements can be found here. BayWa AG on LinkedIn: www.linkedin.com/company/baywa

The LinkedIn profile of BayWa Investor Relations can be viewed here.

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Press contact: BayWa AG Arabellastraße 4 81925 Munich Germany Stefan Bartels

Tel.: [phone]

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About BayWa AG

BayWa AG is a globally active group with the business units energy, agriculture and building materials. As a global player with revenue of €23.9 billion in 2023, it develops innovative and sustainable solutions for the basic human needs of food, energy, heating, mobility, construction and housing. The company has around 25,000 employees in over 50 countries. The headquarters of the parent company, which was founded in 1923 and celebrated its 100th anniversary in 2023, are in Munich. BayWa AG's roots lie in agricultural cooperative trading, and its mission is to provide rural regions with everything they require for agriculture. More information is available at www.baywa.com/press.