Code of Conduct

Our high corporate competence in our areas of business is recognized by our customers and partners. To maintain and develop this further represents a great challenge for us. For this reason, we espouse the following principles of conduct. These principles of conduct are part of our compliance programme and supplement our core values. Each employee applies these principles of conduct as the yardstick for the employee’s action to ensure that our company, our products and our services enjoy high respect.

Safety, Health and Environmental Protection
Each employee shares responsibility for protecting people and the environment in the area in which the employee works.
Employees
- Conduct in Relation to Each other
  It is our goal to make trust, openness and fairness characterize the way in all employees act in relation to each other.
- Data Protection
  We observe the right of self-determination with respect to information on the part of our employees and business partners.
- Insider Information
  No employee uses insider information for the employee's personal benefit.
Embargo and Trade Controls / Customs Regulations
- Fair Competition
  We espouse free and fair competition.
- No Corruption
  Bribery, the granting of favours and every other form of corruption – whether active or passive – will not be tolerated by K+S and will be fought.
- Embargo and Trade Controls / Custom Regulations
  Various national and international trade laws restrict or prohibit the import and export of products.
- Avoidance of Conflicts of Interest
  Every employee is required to strictly separate his private interests from those of the company.
- Donations and Sponsoring
  Donations may only be made for scientific, charitable and other similar non-profit making purposes in conformity with applicable laws and the relevant internal rules.
- Conduct in Relation to Public Agencies
  K+S seeks to maintain a cooperative and open relationship with all relevant public agencies.
Business Risk and Treatment of Company and Business
- Handling Business Risk
  It is our goal to make use of the opportunities that present themselves and in doing so to only assume risks that are manageable.
- Treatment of Company and Business Secrets
  Every employee is to handle company property responsibly and to protect it against loss, abuse and theft.
- Accounting
  All business transactions are carefully, correctly and comprehensively booked and documented.
Investor Relations and Public Relations Work
- Investor Relations
  To promote fair trading in our company’s shares, we maintain an information policy that is transparent and oriented towards the needs of the capital market and our stakeholders.
- Public Relations Work
  It is our goal to present events concerning the company in a full, timely, comprehensible and correct manner at all times.

Safety, Health and Environmental Protection
Each employee shares responsibility for protecting people and the environment in the area in which the employee works. The employee strictly observes the laws and regulations governing environmental protection and plant and industrial safety. The same applies to the relevant internal corporate guidelines and rules. In particular

the employees protects his own health and that of other employees and seeks to avoid accidents and work-related illnesses,
the employee observes the state of technology, industrial medicine and hygiene in planning systems and processes as well as in implementing all other activities,
the employee observes the aspects of product and industrial safety as well as environmental protection in the production, storage, shipment, distribution and use of our products and
minimizes harm to the environment through the economical use of resources

Every supervisor instructs, oversees and supports his employees in discharging their responsibility.
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Conduct in Relation to Each Other
It is our goal to make trust, openness and fairness characterize the way in all employees act in relation to each other. Nobody should be disadvantaged, favoured or harassed on the grounds of race, colour, origin, faith, sex or age or any other reason. All supervisors are required to set an example in this regard.
In the case of constant conflicts, the responsible personal department is to be involved with the goal of finding an appropriate solution.
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Data Protection
We observe the right of self-determination with respect to information on the part of our employees and business partners. The collection of personal information is only permissible to the extent that it is necessary for the handling of business processes or compliance with provisions of the law. Personal data is treated as strictly confidential.
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Insider Information
No employee uses insider information for the employee's personal benefit. Insider information comprises, for example, information that is not publicly available about planned acquisitions, strategic alliances, quarterly and annual results, earnings estimates and similar items of information of material importance for the economic position and development of the K+S Group and which can significantly influence the prices of the K+S share. The use of such information for own purposes or for communicating to third parties is subject to criminal prosecution.
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Fair Competition
We espouse free and fair competition. Agreements and other coordinated forms of conduct involving competitors as well as suppliers and customers that could adversely affect competition are prohibited. They entail the risk of a large fine for the company and the persons involved as well as of criminal prosecution in certain countries. This applies particularly to

agreements concerning prices, offers, the allocation of customers, production and sales quotas or the geographical distribution of markets.
restrictions on the freedom of customers to determine their sale prices or supply relationships with other business partners and comprehensive exclusivity obligations as well as the
differentiated treatment of customers without substantive reason and the imposition of unreasonable conditions

No Corruption
Bribery, the granting of favours and every other form of corruption – whether active or passive – will not be tolerated by K+S and will be fought.
Presents, favours, entertainment and other privileges in connection with acting for K+S will only be accepted or granted if

they remain within the limits of customary business practice,
they do not have an unreasonable high value and
when viewed in a strict manner, the influencing of business or public agency decision can be excluded

In the case of office holders (not only civil servants but all persons performing a public authority function), particularly strict requirements are observed. In the event of doubt, the entertainment or other favour will not be offered.
The acceptance, requesting, offering or granting of sums of money in connection with business or public agency decisions is prohibited.
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Embargo and Trade Controls / Customs Regulations
Various national and international trade laws restrict or prohibit the import and export of products. The restrictions can stem from the “chemistry" of a product, the country of origin or destination of the product or the person of the customer (embargo). In addition, high requirements in terms of compliance with customs regulations apply to our company.
Every employee who is involved with the export of goods and services is required to observe the relevant provisions.
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Avoidance of Conflicts of Interest
Every employee is required to strictly separate his private interests from those of the company.
Any manner of business decision must be based on substantive considerations. The selection of suppliers and service providers takes place under a structured procedure applying objective criteria. Contracts will be awarded on the basis of competing offers to the extent possible. Personal relationships or interests should not influence the concluding of a contract under any circumstances.
The taking up of a secondary activity or the acquisition of shares in another company should not result in the interests of the K+S Group being placed at risk. This applies in particular if the taking up of a secondary activity or the holding of a financial stake relates to a company that competes with K+S or has an extensive business relationship with it.
Participation in private associations, parties or other political or social institutions is welcomed by K+S but cannot adversely affect the performance of work duties. In expressing a private opinion publicly, an employee may not refer to his position in the company.
Any conflicts of interest that may arise are to be disclosed to the employee’s supervisor.
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Donations and Sponsoring
Donations may only be made for scientific, charitable and other similar non-profit making purposes in conformity with applicable laws and the relevant internal rules. K+S does not make donations in the form of money, material assets or services to political parties or organisations or persons closely associated with them or belonging to them.
The marketing budget and the relevant approval rules apply to sponsoring. The approval regulations for donations apply insofar as the organisers of a campaign are charitable or similar non-profit making organisations. There is no sponsorship of events organised by political parties.
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Conduct in Relation to Public Agencies
K+S seeks to maintain a cooperative and open relationship with all relevant public agencies. Public agencies also have the task of investigating possible breaches of the law. No company, including K+S, can rule out the possibility that such investigations may by initiated against it or its employees. Should an employee be confronted with such public action involving an investigation, the employee will act in accordance with the relevant internal rules and instructions.
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Handling Business Risk
It is our goal to make use of the opportunities that present themselves and in doing so to only assume risks that are manageable. No action or decision should entail a risk that can jeopardise the continued existence of the company. Risks are not balanced against opportunities. The organisational rules and measures for the identification of risk and risk management that collectively form our monitoring system in accordance with Section 91, paragraph 2 of the German Joint Stock Corporation Act are to be observed.
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Treatment of Company Property and Business Secrets
Every employee is to handle company property responsibly and to protect it against loss, abuse and theft. Without the express permission of a supervisor, company equipment and other property may not be used for private purposes or removed from company premises.
Business secrets and other information that is not publicly known are strictly treated as confidential and may not be communicated to third parties, including family members. The foregoing also applies once a business relationship has ended. All employees contribute actively to the securing of confidential data.
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Accounting
All business transactions are carefully, correctly and comprehensively booked and documented. Recognition and measurement is carried out in accordance with relevant provisions of the law and internal rules. We work together with the auditors openly and on the basis of trust in connection with the preparation, closing and audit of the annual financial statements.
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Investor Relations
To promote fair trading in our company’s shares, we maintain an information policy that is transparent and oriented towards the needs of the capital market and our stakeholders. The equal treatment of our shareholders and all other stakeholders is assured at all times.
Important corporate information, especially insider information and trading in the shares of K+S Aktiengesellschaft, is disclosed in accordance with the relevant provisions of the law relating to stock corporations, the stock exchange and the capital markets as well as the internal rules that have been issued in such connection.
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Public Relations Work
It is our goal to present events concerning the company in a full, timely, comprehensible and correct manner at all times. Official stances and publications, especially in relation to the media, are only issued by those employees authorised to do so.
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