Disclosure according to sec. 85 German Securities Trading Act and Art. 20 MAR for company KWS SAAT AG:

Markings in the chart show rating changes by Warburg Research GmbH in the last 12 months. Every marking details the date and closing price on the day of the rating change.

Date	Recommendation	Target Price	Close Price	Analyst
13.02.2023	Buy	77.00 EUR	63.50 EUR	Finn Henning Breiter, Oliver Schwarz
15.11.2022	Buy	73.00 EUR	61.40 EUR	Finn Henning Breiter, Oliver Schwarz
29.09.2022	Buy	71.00 EUR	56.10 EUR	Finn Henning Breiter, Oliver Schwarz
12.08.2022	Hold	65.50 EUR	60.90 EUR	Finn Henning Breiter, Oliver Schwarz
18.05.2022	Hold	65.00 EUR	62.50 EUR	Finn Henning Breiter, Oliver Schwarz