13/05/2022 - Wacker Chemie AG: Speeches Given by President & CEO Dr. Christian Hartel, and Chief Financial Officer Dr. Tobias Ohler

Shareholders and shareholder representatives, ladies and gentlemen,

WACKER stands for the future. The future has many faces. For us, those faces include excellent and highly motivated employees, innovative applications and products, close proximity to our customers - in all regions throughout the globe - and production sites with highly efficient technology.

But beyond this, we are also a company with a long history. It has formed us. It is part of what we are today: a unique company with global reach, 108 years of market success, and with the clear goal of continuing down the path of success in the coming decades.

We do this on a solid foundation - we have a long-term approach and act responsibly. Our strategy for the period up to 2030 is what guides us. We introduced that strategy in London at the end of March. In a nutshell, our strategic goals are: faster growth, high profitability and better resilience in times of constant change. The capital market viewed these goals favorably. I will provide more information on this later.

"Creating tomorrow's solutions" - that has been our slogan for many years. It motivates us to make new discoveries, to actively shape the future. This slogan remains and is more relevant than ever. But we have expanded it: "Our solutions make a better world for generations." This is the spirit that has motivated generations of WACKER employees. It shows why we provide value added to our customers, why we are a company with principles and a sense of responsibility, and what it is that motivates all of our employees: "Our solutions make a better world for generations."

And now a warm welcome to all shareholders and shareholder representatives at the 16th Annual Shareholders' Meeting of Wacker Chemie AG. Today is the first time in my new role as CEO that I will present to you the results of the past year - and also the outlook for the current year. And, even more importantly, what our strategy is for remaining successful in the long term.

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Ladies and gentlemen,

For WACKER, 2021 was a record-breaking year, the most successful in the company's history, despite the coronavirus pandemic and strong increases in raw- material prices.

You are already familiar with the most important key indicators: total sales reached €6.2 billion, up 32 percent, earnings before interest, taxes, depreciation and amortization came in at €1.5 billion and net income for the year rose to €830 million. The other key indicators also set new records: net cash flow €761 million, net financial assets €550 million and a return on capital employed of 28 percent.

This positive business trend is also reflected in the dividend: €8 per share is what the Executive Board and Supervisory Board propose to you today for fiscal 2021. It is the highest dividend the company has ever paid. Accordingly, the total dividend payout is about €400 million.

Setting such records is no simple task. This success was a joint effort by all WACKER employees. Everyone made a contribution through their work every single day - with their knowledge, motivation and performance. In R&D. In Corporate Engineering. In Procurement. In IT. In Sales and Production. In Controlling, Accounting and in Human Resources. In all areas. It is the result of hard work. Everyone did their utmost. And, for that, I extend to our workforce - on behalf of the entire Executive Board - a heartfelt thank-you for this tremendous achievement.

Ladies and gentlemen,

WACKER showed strong growth in 2021. Across all four business divisions. Looking back on 2021, we also see that we are growing in all markets and regions. Higher volumes and better prices were the main drivers.

What is the picture in the individual business divisions? WACKER SILICONES, our largest division, set a new record for sales in 2021: €2.6 billion, a year-over-year increase of 16 percent. EBITDA grew even more, up 43 percent to over €550 million.

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We continued to improve our product mix. The share of high-margin specialty products is large.

WACKER POLYMERS also set a new sales record: almost €1.7 billion, up 29 percent year over year. EBITDA, however, was down slightly compared with the prior year, decreasing 7 percent to just over €250 million. This was attributable to sharp increases in raw-material prices. We responded decisively, increasing our prices. That is precisely why this is an excellent result. Strong demand from the construction industry for our products is a major growth driver. As is our unique selling point: dispersions and dispersible polymer powders from a single source, with ultra-modern production sites in the three most important regions globally.

Moving on to WACKER BIOSOLUTIONS. Here, too, we grew our sales to around €300 million, up 20 percent. EBITDA was slightly higher than the year before, at €39 million. The drawback here was that we could not fully leverage our growth potential. Our business partner CureVac, for whom we planned to produce an mRNA-based vaccine for coronavirus, terminated the contract in September 2021. The reason was that the vaccine developed by CureVac did not achieve the desired effectiveness.

Despite this disappointment, during the business partnership we learned a great deal about manufacturing mRNA-based vaccines. As of April, WACKER is among those companies that, if needed in a pandemic, can manufacture vaccines based on mRNA. This was an official decision made by Germany's federal government in its pandemic preparedness plan. It is a huge success. It demonstrates the expertise, capability and innovative strength of WACKER BIOSOLUTIONS - and that opens up new potential in other projects.

Ladies and gentlemen,

Demand for solar energy and semiconductor chips is strong. Both these factors led to a surge in sales and earnings at WACKER POLYSILICON. Sales nearly doubled to over €1.5 billion. EBITDA also grew substantially, to around €660 million. In this area we benefited not only from increased volumes, but also from significantly higher

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prices. What counts is that WACKER is a premium supplier in both application areas

• leading in quality, leading in technology. And that is increasingly paying off.

There are several reasons for this. First, we have continued the systematic and targeted expansion of our market share with semiconductor customers. Second, we supply solar-industry customers with especially high-quality material for monocrystalline solar cells. These cells are highly efficient at generating energy. Third, we are continuing to reduce our production costs.

Even though WACKER POLYSILICON was so successful in 2021, high energy and electricity prices in Germany continue to plague us. Geopolitical conflicts and Germany's dependence on Russian energy supplies have exacerbated the problem. Currently, 80 percent of German companies are struggling with high - much too high

• energy prices.

This is why we continue to advocate for a European industrial electricity price of four cents per kilowatt-hour, in order to remain internationally competitive. Also because carbon neutrality targets are significantly increasing energy and electricity consumption. In order to achieve climate neutrality, the chemical industry alone will need more electricity as of 2030 than is produced in Germany today. The "Easter Package" presented by Robert Habeck, the Federal Minister for Economic Affairs, is an initial step toward making energy policy Germany's top priority. This 500-page bill is the most extensive draft legislation in the area of energy policy in the past 22 years. It proposes more solar and wind energy, the expansion of electricity grids, creating an infrastructure for green hydrogen, and accelerated approval processes. These are encouraging signs of more active political involvement and a quicker pace.

We expressly support this transformation to carbon neutrality. And, wherever necessary, we will provide critical input. Because attaining the goal of carbon neutrality is the most important project for the future of the economy and the environment.

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