Slides
Page 1
AMAG AUSTRIA METALL AG PRESENTATION ON Q1-Q3/2026 29 October 2026
Page 2
DISCLAIMER The forecasts, plans and forward-looking assessments and statements contained in this presentation have been made on the basis of all information available to AMAG up to 16 October 2026. The economic and trade policy environment has changed several times in the recent past. Internal calculations and performance analyses are based on various assumptions. These include, amongst other things, the continued validity of the US global import tariffs on aluminium products. Should the assumptions underlying the forecasts prove incorrect, targets not be met or risks materialise, actual earnings may differ from those currently anticipated. We accept no obligation to update such forecasts in the light of new information or future events. This presentation has been prepared with the utmost care and the data has been checked. However, rounding errors, transmission errors or printing errors cannot be ruled out. In general, rounding may result in discrepancies in the figures, totals and percentages presented. AMAG and its representatives accept no guarantees, in particular, for the completeness and accuracy of the information contained in this presentation. This presentation is also available in German; in cases of doubt, the German version shall prevail. This presentation does not constitute a recommendation or an invitation to buy or sell AMAG securities. 2
Page 3
HIGHLIGHTS FOR Q1-Q3/2026 CEO Victor Breguncci : “The initiatives we have put in place to boost profitability in Ranshofen are proving effective and have enabled us to capitalise on opportunities that are coming from our key premium markets.“ 3
Page 4
FINANCIAL PERFORMANCE STRONG GROWTH IN Q3/2026 ENABLES AN UPWARD REVISION OF THE EBITDA FORECAST 4 EUR 1,323.4 million Q1-Q3/2025: EUR 1,137.0 million Significant revenue growth, driven by a positive shipments trend in the Rolling Division and high aluminium prices Revenue +16.4% EUR 181.4 million Q1-Q3/2025: EUR 114.2 million Operational strength at Ranshofen and favourable market conditions at Alouette are driving profitability; EBITDA margin at 13.7% (Q1-Q3/2025: 10.0%) EBITDA +58.9% EUR 81.7 million Q1-Q3/2025: EUR 33.8 million Significant increase in net income after taxes due to positive performance across all operating divisions Net income after taxes EUR -67.3 million Q1-Q3/2025: EUR 94.2 million Strong contribution to earnings from operating cash flow, but higher capital tied up due to rising aluminium prices and volume growth Free cash flow EUR 193.3 million 31 December 2025: EUR 276.5 million Higher capital tied up and the dividend payments in April 2026 are affecting liquidity; Net debt/EBITDA significantly reduced to 2.0 (31 December 2025: 2.3)* Liquidity -30.1% EUR 200–220 million as at H1/2026: EUR 170–190 million Based on current business performance and order book, as well as anticipated price and geopolitical assumptions Outlook for 2026 +141.6% -171.4% *Key figure represents net financial debt/EBITDA (last 12 months).
Page 5
OPERATIONAL PERFORMANCE AND AWARDS STRONG PERFORMANCE AS A RESULT OF CONSISTENT DEVELOPMENT 5 High capacity utilisation at the Ranshofen site Productivity at the Ranshofen site (Casting Division and Rolling Division) remains at record levels Top performance in both divisions in terms of quality and delivery performance September 2026 saw record production in the Rolling Division since AMAG was founded Accident rate (TRIFR*) at the Ranshofen site stands at 0.9 (Q1-Q3/2025: 1.4) Production and shipments Strong performance recognised on multiple occasions Awarded the “Airbus Sustainable Future Award” Once again winner of the “Austria’s Leading Companies Awards Upper Austria” in the “ESG” category Platinum ranking with “EcoVadis” and “VÖNIX” listing confirmed once again Winner of the “Innovation Award” in the field of technology and product innovation with AMAG CrossAlloy®.57 Awards *Total Recordable Injury Frequency Rate = accidents per capita resulting in lost time and incidents requiring medical treatme nt, relative to the total number of productive hours multiplied by 200,000 hours Power contract for 1,085 MW concluded for Canadian smelter, thereby securing energy supply until 2045 Alouette stake
Page 6
MARKET AND SHIPMENTS 6
Page 7
TOTAL SHIPMENTS OF AMAG GROUP SIGNIFICANT INCREASE, ESPECIALLY FOR ALUMINIUM ROLLED PRODUCTS 7 *Includes intersegment deliveries (Metal Division: primary aluminium shipments to Rolling Division; Casting Division: shipment s of “Remelted Secondary Ingots” (RSI) to Rolling Division). Metal: Stable production of primary aluminium at the Canadian Alouette smelter; shipments up on the previous year despite a logistics-related postponement of around 2,000 tonnes to the fourth quarter of 2026 Casting: Solid capacity utilisation lays the foundation for increased sales of recycled cast alloys Rolling: Positive operating performance enabled a significant rise in sales of rolled products, particularly in the automotive, heat exchanger and aerospace sectors Q1-Q3/2025 Q1-Q3/2026 320,800 342,900 158,20070,40092,200 174,60075,20093,100 +6.9% +900 +4,800 +16,400 Metal Casting Rolling Change in total shipments compared with the previous year in tonnes Total shipments in tonnes*
Page 8
ROLLING DIVISION: RELEVANT MARKETS SUSTAINED POSITIVE TREND IN STRATEGICALLY IMPORTANT SALES MARKETS 8 OEM pressure (particularly in Europe) continues Short-term market opportunities are expected to enable record sales in 2026 YTD shipments up by +43% CRU forecast*: Transport +4.0% p.a. PMI Sep. 2026**: Eurozone 53 Automotive and Transport Positive market momentum continues (driven, amongst other things, by data centres and battery systems) AMAG is gaining market share and there has been +19% growth in YTD shipments CRU forecast*: Mechanical engineering +2.9% p.a. and +4.0% p.a. for transport PMI Sep. 2026**: Eurozone 53 , USA 56 Heat exchangers Higher production rates and slowing destocking at OEMs Wide market presence across leading OEM platforms enabled an 11% increase in sales CRU forecast*: Transport +4.0% p.a. PMI Sep. 2026**: Global 53 Aerospace Generally positive trends across various sectors Slight year-to-date sales growth of +0.5% and improved price realisation CRU forecast*: Mechanical eng. +2.9% p.a. PMI Sep. 2026**: Germany 54 , Italy 50 , Spain 51 , USA 56 Industrial applications Overall stable demand trend This segment ensures stable base capacity utilisation and is crisis-resistant, but has weak margins Adjusted shipments YTD down by -16% CRU forecast*: Packaging +3.3% p.a. PMI Sep. 2026**: Eurozone 53 Packaging Demand remains stable in the sports sector, which is small in terms of volume but offers high margins No significant change in architectural products YTD shipments up by +6% CRU forecast*: Other +5.7% p.a. PMI Sep. 2026**: Global 53 Other *The forecasts by CRU (Commodity Research Unit) reflect the annual growth of the sectors covered by CRU over the period 2025 to 2030. Source: CRU, Aluminium Rolled Products Market Outlook, August 2026 **The PMI index reflects the sentiment among purchasing managers in the manufacturing sector of the region relevant to the re spective market. Source: Bloomberg, Purchasing Managers’ Index
Page 9
Automotive (OEM) +44% Other transport (lorries) +31% Heat exchangers +19% Aerospace +11% Sport/Architecture/Electronics/Other +6% Industrial applications +1% Packaging -16% 9 ROLLING DIVISION: SHIPMENTS BY INDUSTRY HIGH PORTFOLIO DIVERSITY ENABLES OPTIMISATION OF THE PRODUCT MIX The chart shows the share of sales by industry in % for Q1-Q3/2026 23% 13% 3% 32% 12% 5% 11% Change in sales compared with Q1-Q3/2025 in %
Page 10
Average order book in Q3/2026 within the target range High order volume in the automotive sector (positive impact due to supply chain bottlenecks in North America) Increase in market share for heat exchangers (megatrends such as data centres are having a positive effect) Positive performance in aerospace products and industrial applications Global demand for sports and architectural products remains subdued More selective order management in the packaging sector over the course of the year ROLLING DIVISION: ORDER DEVELOPMENT AVERAGE ORDER BOOK WITHIN THE TARGET RANGE 10 0 50 100 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Q3/2026 Target range Ø Order book in thousands of tonnes
Page 11
BUSINESS PERFORMANCE 11
Page 12
PRICE TRENDS FOR KEY RAW MATERIALS CONDITIONS FOR THE CANADIAN SMELTER ALOUETTE REMAIN ATTRACTIVE 12 Source: London Metal Exchange (LME); S&P Global Commodity Insights, ©2026 by S&P Global Inc. 8,7% All prices quoted in USD/tonne Price as at 16 October: 3,012 USD/t Price as at 16 October: 2,390 USD/t Price as at 16 October: 387 USD/t (12.8 LME-%) Ø Alumina price (incl. % relative to LME) Ø US Midwest premium (duty paid) Ø Aluminium price (3-month LME) 2,617 3,222 2,570 3,312 0 1,000 2,000 3,000 4,000 Q3/ 2025 Q3/ 2026 Q1-Q3/ 2025 Q1-Q3/ 2026 +23% +29% 1,565 2,419 1,094 2,410 0 500 1,000 1,500 2,000 2,500 Q3/ 2025 Q3/ 2026 Q1-Q3/ 2025 Q1-Q3/ 2026 +54% +120% 357 348 407 322 0 100 200 300 400 500 13.6% Q3/ 2025 10.8% Q3/ 2026 15.8% Q1-Q3/ 2025 9.7% Q1-Q3/ 2026 -2% -21%
Page 13
REVENUES OF AMAG GROUP HIGH ALUMINIUM PRICE, INCREASED PREMIUM LEVELS AND A SIGNIFICANT RISE IN VOLUMES 13 Reconciliation compared with the previous year in EUR million Revenues in EUR million 235.8 257.3 101.9 115.6 793.7 945.5 5.6 5.0 Q1-Q3/2025 Q1-Q3/2026 1,137.0 1,323.4 +16.4% Metal Casting Rolling Service +133.7 +27.8 +73.3 Q1-Q3/2025 Aluminium price Price/premiums Volume/mix -48.4Other Q1-Q3/2026 1,137.0 1,323.4 Particularly due to a stronger average EUR to USD exchange rate
Page 14
EBITDA OF AMAG GROUP OPERATING PROFIT GROWTH OF +60% YEAR-ON-YEAR 14 EBITDA in EUR million Reconciliation compared with the previous year in EUR million 114.2 181.4 Q1-Q3/2025 Q1-Q3/2026 +58.9% 114.2 181.4 +52.5 +38.4 Q1-Q3/2025 Aluminium price +2.2Price/premiums -7.3Raw materials/energy Volume/mix -18.6Other Q1-Q3/2026 Primarily positive valuation effects in the previous year (approx. EUR +12 million) and negative roll-over results in 2026
Page 15
CHANGE IN EBITDA BY DIVISIONS POSITIVE EARNINGS VARIANCE ACROSS ALL OPERATING DIVISIONS 15 Metal Division Aluminium and alumina prices remain at attractive levels, alongside solid production at the aluminiumsmelter. A shift in sales of around2 thousand tonnes to the fourth quarter of 2026 is delaying the realisation of earnings Aluminium price curve remains in backwardation, though less pronounced ( negative roll-over effects). Valuation effects* in Q1-Q3/2026 at EUR +4 million, following EUR +4 million in Q1-Q3/2025 Casting Division Good capacity utilisation and shipment volume, coupled with a noticeably improved price trend for recycled cast alloys made from aluminium. Cost-efficiency measures are also boosting profitability The market environment in the European automotive industry remains challenging. The focus on scrap availability and price trends remains unchanged Rolling Division Significant increase in volumes in the automotive, heat exchanger and aerospace market segments, alongside a positive impact resulting from successfully implemented cost-efficiency measures The recent sharp rise in energy prices was significantly mitigated by hedging. Valuation effects* in Q1-Q3/2026 stood at EUR -1 million, following EUR +8 million in Q1-Q3/2025 *Valuation effects were redefined as at 30 June 2026 and adjusted retrospectively. EBITDA change year- on-year in EUR million +35.3 +28.6 +6.3
Page 16
EBITDA IN Q3/2026 OF AMAG GROUP SECOND-BEST QUARTERLY RESULT IN THE COMPANY’S HISTORY 16 EBITDA in EUR million Reconciliation compared with Q3/2025 in EUR million 33.5 80.3 Q3/2025 Q3/2026 +139.5% 33.5 80.3 +22.5 +7.4 +23.6 +2.7 Q3/2025 Aluminium price Price/premiums -9.4Raw materials/energy Volume/mix Other Q3/2026 Positive impact of around EUR +10 million coming from shift in sales in Metal division from Q2 to Q3/2026
Page 17
NET INCOME AFTER INCOME TAXES OF AMAG GROUP STRONG OPERATING PROFIT DRIVES NET INCOME AFTER TAXES 17 Net income after income taxes in EUR million Reconciliation compared with the previous year in EUR million 33.8 81.7 Q1-Q3/2025 Q1-Q3/2026 +141.6% 33.8 81.7 +67.2 +3.6 Q1-Q3/2025 EBITDA Depreciation -2.9Financial result -20.1Income taxes Q1-Q3/2026
Page 18
CASH FLOW OF AMAG GROUP HIGH ALUMINIUM PRICES AND VOLUME GROWTH WEIGH ON CASH FLOW 18 Cash flow from investing activities in Q1-Q3/2026 Consistent and budgeted continuation of reduced capital expenditure at the Ranshofen site Cash flow from operating activities in Q1-Q3/2026 Very high operating profit (EBITDA) has a positive impact Significantly higher capital tied up has the opposite effect and results primarily from: an increase in inventories, primarily due to higher production at the Ranshofen site a sharp rise in aluminium prices and premiums Free cash flow in Q1-Q3/2026 Free cash flow is negative due to increased capital tied up despite strong operating performance 134.8 -40.6 94.2 -36.2 -31.1 -67.3 -126.9% -23.5% -171.4% Q1-Q3/2025 Q1-Q3/2026 [in EUR million]
Page 19
BALANCE SHEET FIGURES OF AMAG GROUP (1/2) HIGHER CAPITAL TIED UP IMPACTS NET FINANCIAL DEBT; LEVERAGE SIGNIFICANTLY IMPROVED 19 Net financial debt in EUR million *The figures shown represent EBITDA for the last 12 months (LTM) and the net debt/EBITDA ratio as at the respective reporting date. 382 356 386 344 321 342 422 401 0 100 200 300 400 500 31/12/ 2024 31/03/ 2025 30/06/ 2025 30/09/ 2025 31/12/ 2025 31/03/ 2026 30/06/ 2026 30/09/ 2026 +25.0% 179 183 164 146 137 148 157 204 2.1 1.9 2.3 2.4 2.3 2.3 2.7 2.0 0 50 100 150 200 250 31/12/ 2024 31/03/ 2025 30/06/ 2025 30/09/ 2025 31/12/ 2025 31/03/ 2026 30/06/ 2026 30/09/ 2026 -0.3 EBITDA (LTM) in EUR million and net debt/EBITDA*
Page 20
BALANCE SHEET FIGURES OF AMAG GROUP (2/2) EQUITY AND EQUITY RATIOCLEARLY STRENGTHENED; LIQUIDITY INFLUENCED BY CAPITAL TIED UP 20 741 760 736 736 717 738 740 786 0 200 400 600 800 42.3% 31/12/ 2024 41.7% 31/03/ 2025 44.3% 30/06/ 2025 42.5% 30/09/ 2025 43.2% 31/12/ 2025 41.1% 31/03/ 2026 41.0% 30/06/ 2026 43.8% 30/09/ 2026 +9.6% 279 306 197 333 277 257 186 193 0 100 200 300 400 31/12/ 2024 31/03/ 2025 30/06/ 2025 30/09/ 2025 31/12/ 2025 31/03/ 2026 30/06/ 2026 30/09/ 2026 -30.1% Equity in EUR million and equity ratio in % Cash and cash equivalents in EUR million
Page 21
KEY FINANCIAL FIGURES AT A GLANCE 21 Key figures for AMAG Group in EUR million Q3/2026 Q3/2025 Dev. (%) Q1-Q3/2026 Q1-Q3/2025 Dev. (%) Total shipments in tonnes 121,500 100,400 +21.0 342,900 320,800 +6.9 Revenues 472.7 350.8 +34.7 1,323.4 1,137.0 +16.4 EBITDA 80.3 33.5 +139.5 181.4 114.2 +58.9 EBITDA margin in % 17.0 9.6 n/a 13.7 10.0 n/a Operating profit (EBIT) 61.3 14.5 +323.9 124.1 53.2 +133.1 EBIT margin in % 13.0 4.1 n/a 9.4 4.7 n/a Net income after taxes 41.0 10.4 +295.1 81.7 33.8 +141.6 Earnings per share in EUR 1.16 0.29 +295.1 2.32 0.96 +141.6 Equity 786.1* 717.1** +9.6 786.1* 717.1** +9.6 Equity ratio in % 43.8* 43.2** n/a 43.8* 43.2** n/a Ø Number of employees (FTE) 2,117 2,168 -2.3 2,120 2,199 -3.6 *Figure as at 30 September 2026 **Figure as at 31 December 2025
Page 22
ESG INDICATORS AT A GLANCE 22 Environmental indicators are affected, amongst other things, by production volume and the product mix. *The conversion of energy consumption and emissions is based on the standard factors of the Austrian Greenhouse Gas Inventory (Tier 2a) most recently published by the Federal Ministry in December 2025. **Key figures also include AMAG components 1) Total Recordable Injury Frequency Rate = accidents per capita resulting in lost time and incidents requiring medical treat ment in relation to the total number of productive hours × 200,000 hours Key figures at the Ranshofen site Unit Q1-Q3/2026 Q1-Q3/2025 Dev. (%) Ø Scrap utilisation rate % 73.6 77.0 n/a Specific energy consumption* kWh/tonne 1,106 1,136 -2.6 Specific CO2 emissions (Scope 1 & 2)* tonnes of CO2 /tonne 0.155 0.156 -0.6 Accident rate TRIFR 1) 0.9 1.4 -35.7 Proportion of women** % 16 16 n/a Ø Number of hours for training and development** hours/employee 12.4 17.8 -30.3 Compliance violations** quantity 0 0 n/a
Page 23
OUTLOOK FOR 2026 AND AMAG SHARE 23
Page 24
OUTLOOK FOR 2026 (1/2) EARNINGS GROWTH ACROSS ALL OPERATING DIVISIONS 24 Strong operational performance with high productivity also anticipated for Q4 Cost-efficiency measures are having a lasting impact Profitable volume growth strengthens earnings quality Solid capacity utilisation coupled with high productivity also expected in Q4 Cost-efficiency measures are having a lasting impact Profitability is also benefiting from an improved pricing environment EUR 200 to 220 million Based on current business performance and order book, as well as anticipated pricing and geopolitical assumptions Stable production expected at Alouette Aluminium and alumina prices remain attractive Negative roll-over effects persist, but the impact is declining Metal Casting Rolling Arrows indicate the EBITDA trend compared with the previous year EBITDA guidance
Page 25
OUTLOOK FOR 2026 (2/2) KEY ASSUMPTIONS, OPPORTUNITIES AND RISKS DETERMINE THE EBITDA RANGE 25 Continued strong operational performance across all AMAG divisions Realisation of the anticipated increase in volumes in the Rolling Division Maintenance of the current tariff regime and no further escalation of the Middle East conflict Continued attractive market conditions for primary aluminium (Metal Division) Improvement in relevant market conditions (esp. aluminium prices, premiums and alumina prices) for primary aluminium (Metal Division) More dynamic shipment trends than anticipated among key customers in the Rolling Division Continued improved price levels at the Ranshofen site (Casting and Rolling Divisions) Opportunities Adverse short-term changes in relevant market prices Short-term changes to US import duties Shipments trend in the Rolling Division falls short of expectations Rising energy prices and associated cost pressures Risks Valuation effects (particularly coming from derivatives) and provisions may cause significant fluctuations in either direction Key assumptions
Page 26
AMAG SHARE 26 *B&C Industrieholding GmbH and Raiffeisenlandesbank Oberösterreich entered into an investment agreement on 1 April 2015. **B&C Industrieholding GmbH and Esola Beteiligungsverwaltungs GmbH concluded a shareholding agreement on 14 February 2019. Performance of the AMAG share since the IPO until 30 September 2026 in % Stable ownership structure 52.7% 16.5% 11.9% 8.5% 4.4% 6.1% B&C Privatstiftung*,**, AUT Raiffeisenlandesbank OÖ AG*, AUT AMAG Arbeitnehmer Privatstiftung, AUT Treibacher Industrieholding GmbH, AUT Esola Beteiligungsverwaltungs GmbH**, AUT Free float -50 0 50 100 150 200 IPO 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 +45.8 +137.9 AMAG ATX
Page 27
IR INFORMATION 25 February 2027 Publication of 2026 annual financial statements 29 April 2027 Information on the first quarter of 2027 29 July 2027 Half-year 2027 financial report 3 November 2027 Information on the third quarter of 2027 5 April 2027 AGM record date 15 April 2027 Annual General Meeting (AGM) 20 April 2027 Ex-dividend date 21 April 2027 Dividend record date 22 April 2027 Dividend payment date 27 Financial Calendar 2027 ISIN AT00000AMAG3 Share class Ordinary bearer shares Ticker symbol Vienna Stock Exchange AMAG Indices ATX-Prime, ATX BI, ATX GP, VÖNIX, WBI Reuters AMAG.VI Bloomberg AMAG AV Trading segment Official trading Market segment Prime Market First day of trading 8 April 2011 Issue price per share in EUR 19.00 Number of shares in issue 35,264,000 Information about the AMAG share
Page 28
APPENDIX 28
Page 29
METAL DIVISION 29 Financial KPIs at a glance EBITDA trend in EUR million in EUR million Q3 2026 Q3 2025 Dev. (%) Q1–Q3/ 2026 Q1–Q3/ 2025 Dev. (%) Total shipments in tonnes 38,600 28,500 +35.4 93,100 92,200 +1.0 External shipments in tonnes 35,200 28,500 +23.5 88,100 92,200 -4.4 Revenues 393.0 240.5 +63.4 1,067.3 825.1 +29.4 External revenue 107.9 68.3 +57.9 257.3 235.8 +9.1 EBITDA 36.6 14.0 +162.0 81.1 45.8 +76.9 EBIT 31.6 9.3 +241.1 66.0 28.3 +132.7 Ø Employees (FTE) 196 197 -0.7 196 197 -0.5 17.2 20.6 31.8 25.7 11.3 12.7 24.2 14.0 36.6 9.8 19.6 Q1 Q2 Q3 Q4 2024 2025 2026
Page 30
CASTING DIVISION 30 in EUR million Q3 2026 Q3 2025 Dev. (%) Q1–Q3/ 2026 Q1–Q3/ 2025 Dev. (%) Total shipments in tonnes 25,500 22,500 +13.3 75,200 70,400 +6.8 External shipments in tonnes 13,500 14,800 -8.8 42,300 44,200 -4.3 Revenues 45.8 35.8 +28.0 129.6 113.2 +14.5 External revenue 40.8 32.4 +25.8 115.6 101.9 +13.4 EBITDA 4.5 0.8 +465.6 10.3 3.9 +160.2 EBIT 3.8 0.2 >1,000 8.3 2.2 +279.1 Ø Employees (FTE) 114 112 +1.1 112 116 -3.0 2.2 0.9 1.3 2.1 2.3 4.5 2.2 0.8 4.5 0.5 0.1 Q1 Q2 Q3 Q4 2024 2025 2026 Financial KPIs at a glance EBITDA trend in EUR million
Page 31
ROLLING DIVISION 31 in EUR million Q3 2026 Q3 2025 Dev. (%) Q1–Q3/ 2026 Q1–Q3/ 2025 Dev. (%) Total shipments in tonnes 57,400 49,400 +16.2 174,600 158,200 +10.4 External shipments in tonnes 57,200 49,100 +16.5 174,200 157,100 +10.9 Revenues 399.5 286.1 +39.7 1,140.6 931.9 +22.4 External revenue 322.3 248.2 +29.9 945.5 793.7 +19.1 EBITDA 37.5 19.3 +93.8 93.3 64.7 +44.3 EBIT 25.6 7.0 +264.6 57.3 27.4 +109.4 Ø Employees (FTE) 1,613 1,645 -1.9 1,611 1,672 -3.6 22.5 24.4 25.4 24.8 20.9 30.4 26.8 19.3 37.5 22.1 2.6 Q1 Q2 Q3 Q4 2024 2025 2026 Financial KPIs at a glance EBITDA trend in EUR million
Page 32
SERVICE DIVISION 32 in EUR million Q3 2026 Q3 2025 Dev. (%) Q1–Q3/ 2026 Q1–Q3/ 2025 Dev. (%) Revenues 31.4 28.0 +12.2 92.2 91.2 +1.1 External revenue 1.7 1.8 -7.5 5.0 5.6 -11.2 EBITDA 1.8 -0.6 +410.2 -3.2 -0.3 <-1,000 EBIT 0.4 -2.0 +118.3 -7.5 -4.7 -60.5 Ø Employees (FTE) 194 213 -8.7 200 215 -6.9 0.4 0.2 -1.4 0.3 0.1 -3.6 -0.9 -0.6 1.8 -0.8 0.5 Q1 Q2 Q3 Q4 2024 2025 2026 *Adjusted for interdivisional provision for bad debts in 2024 and 2025 Financial KPIs at a glance EBITDA trend in EUR million*
Page 33
BALANCE SHEET 33 in EUR million September 30, 2026 December 31, 2025 +/- (%) Intangible assets and goodwill 21.2 19.2 10.3 Property, plant and equipment 639.3 670.3 -4.6 Equity accounted investments 1.6 1.7 -2.9 Other non-current assets and financial assets 23.2 28.0 -17.4 Deferred tax assets 11.7 10.1 16.2 Non-current assets 697.0 729.3 -4.4 Inventories 555.6 412.3 34.8 Trade receivables 246.2 174.7 40.9 Current tax assets 0.1 0.0 75.7 Other current assets 99.6 63.7 56.4 Contract assets 2.2 1.8 26.1 Cash and cash equivalents 193.3 276.5 -30.1 Current assets 1,096.9 929.0 18.1 TOTAL ASSETS 1,794.0 1,658.3 8.2 Equity 786.1 717.1 9.6 Non-current provisions 66.9 62.3 7.5 Interest-bearing non-current financial liabilities 424.2 547.1 -22.5 Other non-current liabilities and grants 39.7 46.7 -15.1 Deferred tax liabilities 26.7 23.8 12.1 Non-current liabilities 557.5 679.9 -18.0 Current provisions 21.2 28.9 -26.6 Interest-bearing current financial liabilities 180.7 50.4 258.7 Trade payables 146.3 86.7 68.8 Current tax liabilities 11.6 2.9 301.5 Other current liabilities and grants 90.6 92.5 -2.1 Current liabilities 450.3 261.3 72.3 TOTAL EQUITY AND LIABILITIES 1,794.0 1,658.3 8.2
Page 34
STATEMENT OF PROFIT AND LOSS PREPARED USING THE COST-OF-SALES METHOD 34 in EUR million Q3/2026 Q3/2025 +/- (%) Q1-Q3/2026 Q1-Q3/2025 +/- (%) Revenue 472.7 350.8 34.7 1,323.4 1,137.0 16.4 Cost of sales -371.3 -292.7 -26.9 -1,066.6 -963.0 -10.7 Gross profit 101.4 58.2 74.3 256.9 174.0 47.6 Other income 1.9 0.4 352.4 7.0 8.3 -15.6 Selling and distribution expenses -25.9 -26.5 2.3 -83.2 -71.0 -17.1 Administrative expenses -9.4 -10.2 8.1 -30.2 -30.8 2.0 Research and development expenses -4.3 -5.6 23.0 -14.4 -17.9 19.6 Other expenses -2.4 -1.9 -30.1 -12.1 -9.4 -28.3 Share of profit of equity-accounted investments 0.0 0.0 -152.8 0.1 0.1 -17.3 Earnings before interest and taxes (EBIT) 61.3 14.5 323.9 124.1 53.2 133.1 Net interest result -7.4 -3.3 -123.7 -14.8 -9.8 -50.8 Other financial result 0.0 1.3 -103.2 1.6 -0.5 434.6 Net financial result -7.4 -2.0 -276.3 -13.2 -10.3 -27.9 Earnings before taxes (EBT) 53.9 12.5 331.4 110.9 42.9 158.3 Current taxes -14.1 -1.8 -669.9 -30.3 -7.5 -305.4 Deferred taxes 1.1 -0.3 469.7 1.0 -1.7 161.1 Income taxes -12.9 -2.1 -508.6 -29.2 -9.1 -220.2 Net income after taxes 41.0 10.4 295.1 81.7 33.8 141.6
Page 35
CASH FLOW STATEMENT 35 in EUR million Q3/2026 Q3/2025 Q1-Q3/2026 Q1-Q3/2025 Earnings before taxes (EBT) 53.9 12.5 110.9 42.9 Net interest result 7.4 3.3 14.8 9.8 Share of profit of associates 0.0 0.0 -0.1 -0.1 Depreciation, amortisation and impairment losses/reversal of impairment losses on non- current assets 19.0 19.1 57.3 61.0 Losses/gains from the disposal of non-current assets 0.1 0.0 0.0 0.0 Proceeds from dividends 0.1 0.1 0.1 0.1 Other non-cash expenses/income 0.0 -0.7 0.4 -2.2 Changes in inventories -43.9 -3.4 -141.7 34.8 Changes in trade receivables 9.4 18.3 -70.9 -8.7 Changes in trade payables 5.2 -14.9 59.4 23.2 Changes in provisions -0.4 -3.5 0.7 -13.3 Changes in derivatives -6.5 33.3 -35.9 -4.9 Changes in contract assets -0.1 -0.2 -0.5 0.5 Changes in other receivables and liabilities -13.2 -7.5 -4.8 0.3 Income taxes paid -2.4 1.2 -13.7 -4.7 Interest received 1.4 2.1 5.1 6.4 Interest paid -9.4 -1.2 -17.5 -10.3 Cash flow from operating activities 20.5 58.5 -36.2 134.8 Proceeds from disposals of non-current assets 0.1 0.0 0.8 0.4 Payments for investments in property, plant and equipment and intangible assets -11.8 -13.5 -31.9 -41.9 Proceeds from grants for investments 0.0 0.1 0.0 1.0 Cash flow from investing activities -11.7 -13.4 -31.1 -40.6 Repayments of borrowings -2.0 -39.5 -43.0 -154.8 Proceeds from borrowings 0.0 130.0 50.0 167.5 Dividends paid 0.0 0.0 -26.4 -42.3 Cash flow from financing activities -2.0 90.5 -19.5 -29.6 Change in cash and cash equivalents 6.8 135.6 -86.7 64.5 Cash and cash equivalents at the beginning of the period 186.1 196.9 276.5 278.8 Effect of exchange rate changes on cash and cash equivalents 0.4 0.2 3.5 -10.7 Cash and cash equivalents at the end of the period 193.3 332.6 193.3 332.6
Page 36
STATEMENT OF COMPREHENSIVE INCOME 36 in EUR million Q3/2026 Q3/2025 Q1-Q3/2026 Q1-Q3/2025 2025 Net income after taxes 41.0 10.4 81.7 33.8 34.0 Items that are or may be reclassified to profit or loss: Currency translation differences 0.9 -0.6 7.5 -26.4 -26.9 Changes in the hedging reserve Recognized (expenses) and income during the financial year -35.4 -17.2 -62.9 23.8 -13.8 Reclassifications of amounts that have been recognized in the statement of profit or loss 34.5 0.7 66.7 5.8 15.5 Deferred taxes relating thereto 0.1 4.3 -1.0 -6.3 0.8 Currency translation differences -0.1 0.6 -1.3 3.2 3.7 Changes in fair value reserve -1.2 -0.1 -0.6 0.2 -1.5 Deferred taxes relating thereto 0.3 0.0 0.2 0.0 0.3 Items that will never be reclassified to profit or loss: Changes in revaluation reserve 0.1 0.0 0.1 0.1 0.1 Deferred taxes relating thereto 0.0 0.0 0.0 0.0 0.0 Remeasurement of defined benefit plans 7.1 3.1 6.3 5.7 9.5 Deferred taxes relating thereto -1.7 -0.8 -1.5 -1.5 -2.4 Currency translation differences 0.1 -0.1 0.4 -0.8 -0.8 Share of other comprehensive income of associates 0.0 0.0 0.0 0.0 0.0 Deferred taxes relating thereto 0.0 0.0 0.0 0.0 0.0 Other comprehensive income for the year net of tax 4.7 -10.1 13.8 3.9 -15.5 Total comprehensive income for the year 45.7 0.3 95.5 37.7 18.5
Page 37
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 37 in EUR million Share capital Capital reserves Hedging reserve Fair value reserve Revaluation reserve Revaluation of defined benefit plans Share of comprehensive income of associates Exchange differences Retained earnings Equity Balance as at December 31, 2024 35.3 377.7 -41.1 -0.5 1.1 -7.7 0.0 62.0 314.2 740.9 Net income after taxes 33.8 33.8 Other comprehensive income for the year net of tax 26.6 0.2 0.1 3.5 -26.4 3.9 Total comprehensive income for the year 26.6 0.2 0.1 3.5 0.0 -26.4 33.8 37.7 Dividend distributions -42.3 -42.3 Balance as at September 30, 2025 35.3 377.7 -14.5 -0.4 1.2 -4.2 0.0 35.6 305.7 736.2 Balance as at December 31, 2025 35.3 377.7 -34.9 -1.7 1.2 -1.3 0.0 35.1 305.9 717.1 Net income after taxes 81.7 81.7 Other comprehensive income for the year net of tax 1.5 -0.4 0.1 5.2 7.5 13.8 Total comprehensive income for the year 1.5 -0.4 0.1 5.2 0.0 7.5 81.7 95.5 Dividend distributions -26.4 -26.4 Balance as at September 30, 2026 35.3 377.7 -33.5 -2.1 1.3 3.9 0.0 42.6 361.1 786.1
Page 38
AMAG. COMPETENCE IN ALUMINIUM. Mag. Christoph M. Gabriel, BSc Head of Investor Relations & Group Spokesperson Lamprechtshausener Straße 61 5282 Ranshofen Austria 38 +43 664 885 775 26 christoph.gabriel@amag.at