Frequently asked questions on ADR Programme

American Depositary Receipts (ADRs) are an instrument widely used by non-U.S. companies to offer and trade their shares conveniently and efficiently in the U.S. equity markets. The ADRs are issued by a depositary bank and represent underlying shares of a non-U.S. company. A Level I ADR programme allows investors to buy and sell shares of a non-U.S. company in the form of ADRs on the over-the-counter ("OTC") market, also referred to as the “Pink Sheets,” in the United States of America.

The K+S ADR programme is issued by the U.S. depositary bank The Bank of New York Mellon.

If you have any questions please contact The Bank of New York Mellon at the toll free number +1-888-BNY-ADRS / +1-888-269-2377 if you are calling from within the United States. If you are calling from outside the U.S., please call 201-680-6825.

You may also send an e-mail inquiry to shrrelations@bnymellon.com or visit the website at http://www.bnymellon.com/shareowner.

K+S ADRs can be purchased or sold via your U.S. broker, the relevant OTC code is KPLUY.

ADRs overcome obstacles that U.S. mutual funds, pension funds and other institutional investors may have in purchasing and holding securities outside of their local market. ADRs facilitate portfolio diversification into foreign securities, they settle and clear efficiently and pay dividends in U.S. dollars. Corporate action documentation and meeting material is delivered in English. Accounting and disclosure is in internationally accepted formats.

The OTC market is not an organized marketplace or exchange, but rather it is a network of securities dealers that make markets in many different securities. The K+S ADRs are listed on OTCQX, a listing service that provides ADR issuers with an efficient platform to enhance liquidity in their ADRs.

ADR holders have the same rights and obligations as ordinary shareholders. They can attend and vote at Shareholders Meetings, participate in profits, and receive information.

For the latest dividend information please refer to the Bank of New York Mellon ADR website in the investor section.

The dividends are promptly paid in U.S. dollars by The Bank of New York Mellon.

Organisation and distribution of the votes are provided by our depositary bank The Bank of New York Mellon. Holders of ADRs are entitled to instruct the depositary bank as a proxy to exercise the voting rights with respect to the number of ordinary shares represented by the respective ADRs.

When K+S pays a dividend to both ordinary shareholders and ADR shareholders certain tax implications apply. The K+S dividend is subject to a German withholding tax of 26,375% of the gross amount. Under the terms of the convention between the United States of America and the Federal Republic of Germany, eligible ADR holders may reclaim 11,375%, thereby reducing their withholding tax to 15%. ADR holders eligible for the refund must be residents of the U.S. in accordance with the aforementioned convention. Please contact your broker or tax adviser for further information and any applicable U.S. tax forms.

The K+S ADR prgramme started trading on 23 February 2009.