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Q1 2026/27 Analyst & Investor Meeting , August 5 , 2026 voestalpine AG www.voestalpine.com voestalpine ONE STEP AHEAD .
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|| 08/05/20262 Investor Relations Solid earnings and free cash flow in an environment characterized by significant uncertainty, supported by a robust strategy Continued strong momentum in Railway Systems and Aerospace, positive development in Warehouse & Rack Solutions Employees (FTE): Reduced to 48,640 Disciplined reorganization and portfolio optimization, completion of the sale of BÖHLER Profil Construction, mechanical engineering, and consumer goods industries remain at a low level, mixed development in the automotive industry greentec steel project on time and on budget. Ramp-up in first half of 2027
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|| 08/05/20263 Investor Relations Asia / China Positive economic performance, growth driven by exports, with the domestic economy showing limited development Europe Weak economic momentum, trade policy opportunities North America / USA Economy continues to grow, with private consumption and AI investments as a key driver South America / Brazil Moderate economic growth, U.S. tariffs, and increased Chinese imports are weighing on the market 14% of revenue* 3% of revenue* 65%** of revenue* Rest of world: 10% of revenue* 8% of revenue* * as of BY 2025/26 ** EU
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|| LOCAL-FOR-LOCAL STRATEGY SUCCESSFULLY CONTINUED 08/05/20264 Investor Relations Expansion of truck frame production in Indiana, USA » Manufacturing of high- quality truck frames » Long-term contracts with established OEMs » Investment: 70 m€ Railway Systems major order and expansion » Rail Baltica: 470m€ » Expansion of production in Ontario: » Long-term contract with Canadian National » Direct access to Canadian market mitigates trade risks
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|| 08/05/20265 Investor Relations greentec steel ACCORDING TO PLAN One electric arc furnace (EAF) in both Linz and Donawitz 1.5 bn€ investment on time & on budget 30% reduction in CO2 emissions* Replacement of another blast furnace at each of the sites in Linz and Donawitz (50%* of CO2 emissions) Objective: net zero CO2 emissions from 2027 by 2029 from 2030 by 2050 * Scope 1 and Scope 2 emissions compared to the reference year 2019
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|| 6 April 2027 Ramp-up of EAF—expansion phase 1 From 2027 Replacement of first blast furnace. EAF—start of expansion phase 2* Investment volume: 100 m€ From 2030 Complete conversion to electric steel production Reduction of CO2 emissions by over 90% (base year 2019) *Subject to clarification of unresolved funding issues 2030 Shut down of second blast furnace and sintering plant greentec steel in Donawitz 08/05/2026 Investor Relations
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|| 08/05/20267 Investor Relations DEVELOPMENT OF THE DIVISIONS
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|| 08/05/2026 STEEL DIVISION Q1 BY 2026/27 » Business development » Resilient Q1 performance supported by strong premium positioning » Subdued demand from construction, mechanical engineering, and energy industries » Stable deliveries to automotive industry, driven by high product quality, delivery reliability and stable logistics resulting in market share gains » Current situation & outlook » Weak European demand partly offset by new EU safeguard measures and CBAM. Positive signal from ETS reform proposal (incl. delayed free allowance roll-off), but further improvements needed » Temporary pricing stagnation from inventory build-up and front- loaded imports, further positive pricing momentum anticipated in the second half of the business year » Logistical challenges well managed » greentec steel transformation progressing as planned, ramp-up in the first half of the calendar year 2027 in millions of euros 1,531 REVENUE Q1 BY 2026/27 218 EBITDA Q1 BY 2026/27 14.3% EBITDA margin Q1 BY 2026/27 153 EBIT Q1 BY 2026/27 10.0% EBIT margin Q1 BY 2026/27 Investor Relations8 1,530 Q4 2025/26 236 Q4 2025/26 15.4% Q4 2025/26 172 Q4 2025/26 11.2% Q4 2025/26
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|| 08/05/2026 HIGH PERFORMANCE METALS DIVISION Q1 BY 2026/27 » Business development » Stable but subdued tooling markets in Europe and North America; solid demand in China and slightly improved demand in South America » Medtech, food & beverage and mining showed solid demand and supported overall business stability » Strong momentum in aerospace & power industries, driven by global demand » Reorganization projects progressing according to plan, successful sale of BÖHLER Profil » Current situation & outlook » Economic uncertainty, competitive pressure and U.S. trade measures continue to weigh on markets » Slight market improvement, Aerospace strong in millions of euros Investor Relations9 742 REVENUE Q1 BY 2026/27 167 EBITDA Q1 BY 2026/27 22.5% EBITDA margin Q1 BY 2026/27 130 EBIT Q1 BY 2026/27 17.5% EBIT margin Q1 BY 2026/27 745 Q4 2025/26 65 Q4 2025/26 8.7% Q4 2025/26 20 Q4 2025/26 2.7% Q4 2025/26
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|| 08/05/2026 METAL ENGINEERING DIVISION Q1 BY 2026/27 » Business development » Stable performance driven by the continuously robust Railway Systems business » Mixed development in Industrial Systems business units: » Tubulars significantly impacted by U.S. tariffs, project delays and postponements due to the conflict in the Middle East » Wire business challenging with subdued demand in automotive, construction and mechanical engineering industries » Welding overall stable with regional differences » Current situation & outlook » Overall positive development in Railway Systems » Industrial Systems remains affected by weak investment activity, regional competition and tariff-related challenges » greentec steel transformation progressing as planned, ramp-up in the first half of the calendar year 2027 Investor Relations10 1,048 REVENUE Q1 BY 2026/27 91 EBITDA Q1 BY 2026/27 8.7% EBITDA margin Q1 BY 2026/27 44 EBIT Q1 BY 2026/27 4.2% EBIT margin Q1 BY 2026/27 in millions of euros 966 Q4 2025/26 105 Q4 2025/26 10.9% Q4 2025/26 58 Q4 2025/26 6.0% Q4 2025/26
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|| 08/05/2026 METAL ENGINEERING DIVISION BUSINESS UNIT RAILWAY SYSTEMS Q1 BY 2026/27 » voestalpine Railway Systems is a leading global provider of integrated railway infrastructure solutions covering track systems, turnout systems, fixations, signaling, digital monitoring and services » Low-cyclical business supported by recurring maintenance and renewal activities, generating the majority of revenues » Record Rail Baltica contract (c. 470m€) confirms strong market position » Positive mid-term market outlook with a strong order backlog covering a significant share of BY 2026/27 and beyond Investor Relations11 583 REVENUE Q1 BY 2026/27 60 EBITDA Q1 BY 2026/27 10.3% EBITDA margin Q1 BY 2026/27 44 EBIT Q1 BY 2026/27 7.6% EBIT margin Q1 BY 2026/27 in millions of euros 488 Q4 2025/26 52 Q4 2025/26 10.6% Q4 2025/26 36 Q4 2025/26 7.4% Q4 2025/26
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|| 08/05/2026 METAL FORMING DIVISION Q1 BY 2026/27 » Business development » Automotive Components continued to face a challenging market environment, while reorganization measures remained a strategic priority » Tubes & Sections confronted with challenging market environment in North America and continued weak demand in UK’s construction industry » Precision Strip with robust demand, exceeding prior-year level » Warehouse & Rack Solutions strong » Current situation & outlook » Automotive Components faces weak market environment, positive effects of reorganization measures » Warehouse & Rack Solutions is expected to remain strong Investor Relations12 809 REVENUE Q1 BY 2026/27 62 EBITDA Q1 BY 2026/27 7.7% EBITDA margin Q1 BY 2026/27 28 EBIT Q1 BY 2026/27 3.4% EBIT margin Q1 BY 2026/27 in millions of euros 805 Q4 2025/26 79 Q4 2025/26 9.8% Q4 2025/26 41 Q4 2025/26 5.1% Q4 2025/26
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|| 08/05/202613 Investor Relations Q1 2026/27 FINANCIAL OVERVIEW
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|| 08/05/202614 Investor Relations FINANCIAL OVERVIEW Q1 2025/26 Q1 2026/27 Delta in % Revenue 3.902 3.994 2,4 EBITDA 361 495 37,0 EBITDA margin 9,3 % 12,4 % EBIT 172 307 78,8 EBIT margin 4,4 % 7,7 % Profit before tax 139 279 100,9 Profit after tax* 106 196 84,6 * Before deduction of non-controlling interests. Comments on delta YoY: Revenue » Increases in Steel Division, High Performance Metals Division and Metal Forming Division, slight decrease in Metal Engineering Division Operational results » Positive one-off effect from the sale of BÖHLER Profil » Operational improvements in Steel Division, High Performance Metals Division and Metal Forming Division » Decrease in Metal Engineering due to changed U.S. trade policy compared with Q1 2025/26 Profit before tax » Finance costs decreased due to lower net debt in millions of EUR
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|| 08/05/202615 Investor Relations YoY DEVELOPMENT EBITDA Key financial metrics above prior-year level Price / Raw Materials » Increase in gross margin due to better prices and lower raw material costs Miscellaneous » Positive one-off effect from the sale of BÖHLER Profil » Continued reorganization measures in the High Performance Metals Division in millions of euros 361 41 28 6 59 495 Q1 BY 2025/26 Price Raw materials Mix/Volume Misc. Q1 BY 2026/27
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|| 361 29 114 -11 11 -9 495 Q1 BY 2025/26 Steel HPM Metal Engineering Metal Forming Holding & misc. Q1 BY 2026/27 in millions of euros 08/05/202616 Investor Relations YoY DEVELOPMENT EBITDA DIVISIONS Steel Division » Increase in gross margin due to higher revenues and lower costs High Performance Metals Division » EBITDA for Q1 2026/27 includes approx. 100 m€ in net positive one-off effects Metal Engineering Division » Robust development in Railway Systems » Challenging market conditions for Tubulars Metal Forming Division » Persistently challenging market environment for Automotive Components, cushioned by cost-cutting measures
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|| 08/05/202617 Investor Relations CASH FLOW ON HIGH LEVEL in millions of euros Q1 2025/26 Q1 2026/27 Cash flow from results 363 300 Changes in net working capital 81 44 Cash flow from operating activities 444 344 Cash flow from investing activities -256 -120 Free Cash Flow 188 224 » Solid earnings performance supports positive operating cash flow » Further reduction of net working capital » Cash flow from investing activities includes the sale of BÖHLER Profil (amounting to ~150 m€)
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|| 08/05/202618 Investor Relations SOLID BALANCE SHEET STRUCTURE PROVIDES FLEXIBILITY 2.978 3.080 3.221 2.995 3.125 3.775 2.743 2.291 1.661 1.651 1.650 1.264 1.038 58% 54% 53% 46% 47% 67% 49% 32% 22% 22% 22% 16% 13% 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26 Q1 26/27Net financial debt (m€) Gearing ratio (%) Solid equity base as of 2026/06/30: » Equity: 8.0 bn€ » Equity ratio: 51 % Low debt level as of 2026/06/30: » Gearing ratio: 13 % » Net debt / EBITDA: 0.6
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|| 08/05/202619 Investor Relations OUTLOOK
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|| 20 » Outlook unchanged despite ongoing geopolitical and trade-related uncertainties. Consistent execution of our strategy supports resilience » European steel market conditions expected to improve, supported by CBAM, new EU safeguard measures and a gradually normalizing inventory situation » Positive signal from ETS reform proposal, but further improvements needed » Reorganization measures in High Performance Metals and Automotive Components expected to further strengthen earnings performance » Positive contribution from the flat steel automotive business, while Automotive Components continues to face challenging demand conditions » Subdued market environment in Tubulars and Wire. Middle East tensions delay energy projects » Railway Systems, Aerospace and Warehouse & Rack Solutions remain strong Guidance for BY 2026/27: EBITDA expected in a range between 1.6 bn€ and 1.85 bn€ OUTLOOK 08/05/2026 Investor Relations
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www.voestalpine.com voestalpine AG Q & A Analyst & Investor Meeting Q1 BY 2026/27
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www.voestalpine.com voestalpine AG INVESTOR RELATIONS Dino Malkic T. +43/50304/15-2558 dino.malkic@voestalpine.com Gerald Resch T. +43/50304/15-3152 gerald.resch@voestalpine.com