Slides
Page 1
1October 30th, 2026 3Q26 Results 3Q26 Webcast Institutional Presentation
Page 2
2October 30th, 2026 3Q26 Results SUMMARY WEBCAST....................................................03 INSTITUTIONAL PRESENTATION...............13
Page 3
3 3Q26 3Q26 Results FELIPE XAVIER UNIGAL Employee
Page 4
4October 30th, 2026 3Q26 Results3Q26 Highlights of the Quarter Steel sales 1.0 Mt +5% vs. 2Q26 Iron Ore Sales 2.0 Mt -18% vs. 2Q26 Adjusted Consolidated EBITDA R$ 558 mi -27% vs. 2Q26 Adjusted EBITDA Margin Steel 10% -3.2 pp vs. 2Q26 Net Cash Position* R$ 471 mi -6% vs. 2Q26 * Cash and investments exceeded gross debt. Net Debt / EBITDA -0.20x +0.02x vs. 2Q26
Page 5
5 3Q26 NET INCOME R$ millions NET REVENUES R$ millions ADJUSTED EBITDA R$ millions Consolidated 6,604 6,131 6,202 3Q25 2Q26 3Q26 20,088 18,205 9M25 9M26 434 761 558 7% 12% 9% 3Q25 2Q26 3Q26 EBITDA Margin 1,575 1,972 8% 11% 9M25 9M26 (3,503) 428 243 3Q25 2Q26 3Q26 (3,039) 1,568 9M25 9M26
Page 6
6 3Q26 991 930 979 112 59 55 1,104 989 1,034 3Q25 2Q26 3Q26 ADJUSTED EBITDA R$ millions STEEL SALES (Kt) NET REVENUES R$ millions and per ton (R$/t) Steel Unit Domestic Market Exports ∆2Q26: -22% ∆Domestic Market 2Q26: +5% Domestic Market Exports 2,966 2,848 310 183 3,276 3,030 9M25 9M26 5,232 5,067 5,298 552 318 312 5,784 5,384 5,610 5,240 5,443 5,425 3Q25 2Q26 3Q26 Total Net Revenues per ton 16,073 15,255 1,661 981 17,735 16,235 5,414 5,358 9M25 9M26 308 688 538 5% 13% 10% 3Q25 2Q26 3Q26 EBITDA Margin 1,123 1,769 6% 11% 9M25 9M26
Page 7
7 3Q26 ISABEL PEREIRA Blast Furnace 3 Employee ADJUSTED EBITDA VARIATION R$ millions Steel Unit 7October 30th, 2026 → 688 (19) 32 (107) (69) 14 538 2Q26 Price/MIX Volume COGS* Operating Revenues and Expenses* Others 3Q26
Page 8
8 3Q26 ADJUSTED EBITDA R$ millions and per ton (US$/t) IRON ORE SALES (Kt) NET REVENUES R$ millions and per ton (US$/t) Mining Unit Exports Usiminas 3rd parties Domestic ∆2Q26: -18% ∆2Q26: -23% ∆2Q26: -73% Adjusted EBITDA (US$/t) 486 465 344 170 147 183 1,846 1,856 1,487 2,503 2,469 2,014 3Q25 2Q26 3Q26 1,391 1,293 443 439 5,345 4,698 7,179 6,429 9M25 9M26 950 867 668 $79 $78 $75 3Q25 2Q26 3Q26 Net Revenue Exports per ton 2,778 2,317 $76 $80 9M25 9M26 130 71 19 10 6 2 14% 8% 3% 3Q25 2Q26 3Q26 451 201 11 6 16% 9% 9M25 9M26
Page 9
9 3Q26 3Q26 Financial indicators SÂMIA REIS Ipatinga Coke Plant Employee
Page 10
10 3Q26 FREE CASH FLOW** R$ millions Working Capital Variation and Operational Cash Flow * R$ millions CAPEX R$ millions Consolidated *Cash variation excluding CAPEX and other investing and financing activities ** Operating Cash Flow + CAPEX 878 1,117 370 358 250 586 575 (120) (184) (403) 3Q25 4Q25 1Q26 2Q26 3Q26 Operating Cash Flow Working Capital Variation 613 744 84 35 (36) 3Q25 4Q25 1Q26 2Q26 3Q26 247 325 210 273 261 19 47 75 50 24 266 372 285 323 285 3Q25 4Q25 1Q26 2Q26 3Q26 Steel Unit Mining Unit
Page 11
11 3Q26 3,586 3,162 6,747 6 25 708 2,168 274 274 2,665 Caixa 2026 2027 2028 2029 2030 2031 2032 Gross Debt (Only principal) Cash (BRL) Cash (USD) Debt (BRL) Debt (USD) Consolidated CASH, GROSS DEBT, NET DEBT, AND LEVERAGE R$ billions GROSS DEBT AMORTIZATION PROFILE – ONLY PRINCIPAL R$ million Debt Duration: R$: 33 months US$: 54 months Net Debt/EBITDA 6.0 6.9 6.7 6.8 6.7 6.4 6.5 6.3 6.3 6.3 0.3 (0.4) (0.4) (0.5) (0.5) 0.16x -0.22x -0.20x -0.22x -0.20x 3Q25 4Q25 1Q26 2Q26 3Q26 Cash and Equivalents Gross Debt Net Debt
Page 12
3Q26 Institutional Presentation
Page 13
Governance and Highlights Culture of social, environmental and employee responsibility Usiminas1 2 3
Page 14
Iron Ore KEY HIGHLIGHTS (3Q26) Steel Usiminas at a Glance COMPANY OVERVIEW ✓ One of the largest producers of flat-rolled products in Brazil, with operations in various segments of the value chain, such as mining and logistics, steelmaking and steel processing; ✓ Two steel mills strategically located on Brazil's main industrial routes, with a sales force present in the country's main regions; ✓ Iron ore mine in the Serra Azul region (MG); ✓ Low levels of leverage, robust cash position and low net debt; ✓ Wide range of products and services for the transformation and distribution of flat steel. 2,014 kton Iron Ore Sales 1,034 kton Steel Sales R$ 6,202 mi Net Revenue R$ 558 mi EBITDA Consolidated R$ 538 mi EBITDA R$ 19 mi EBITDA R$ 471 mi / -0.20x Net Cash / Leverage GEOGRAPHIC FOOTPRINT MINERAÇÃO USIMINAS Itatiaiuçu - MG SOLUÇÕES USIMINAS Santa Luzia - MG Betim – MG Ipatinga – MG Taubaté – SP Guarulhos – SP Porto Alegre – RS Suape - PE STEEL UNIT Ipatinga - MG Cubatão - SP USIMINAS MECÂNICA Ipatinga – MG Cubatão - SP
Page 15
Complete Solutions in Products and Services o JV formed in 2010 through a partnership with Sumitomo Corporation o Responsible for the mining operations, in addition to rail and port transportation o Three iron ore plants at Serra Azul - MG o One of the largest producers of flat rolled steel in Brazil o Two industrial plants in Ipatinga (MG) and Cubatão (SP) o Also holds Unigal Usiminas, a JV with Nippon Steel responsible for steel hot-dip galvanizing activities, enhancing the technology content within Usiminas’ steel. o Soluções Usiminas was created in 2009, it has a broad portfolio of products and services for the transformation and distribution of flat steel and serves 3 main sectors: distribution, tubes and JIT (just in time). Mining Steel Unit Ipatinga | Cubatão | Unigal | Soluções Usiminas | Usiminas Mecânica Upstream Downstream Mineração Usiminas
Page 16
Usiminas Steel Operation COMPANY OVERVIEW EVOLUTION OF USIMINAS STEEL SALES (THOUSAND TONS) ✓ One of Brazil’s largest producers of flat steel products; ✓ Two industrial plants in Ipatinga (MG) and Cubatão (SP) ✓ Holds a 70% stake in Unigal Usiminas, a joint venture with Nippon Steel engaged in hot-dip galvanizing, enhancing the technological content of Usiminas’ product portfolio; ✓ Research and Development Center focused on new product development, product application engineering, optimization of industrial processes, cost reduction, among other initiatives; ✓ Owns Usiminas Mecânica, a company focused on providing industrial assembly and maintenance services to Usiminas companies; ✓ Established in 2009, Soluções Usiminas offers a broad portfolio of products and services for flat steel processing and distribution, serving three main segments: distribution, tubes and JIT (just-in-time). HEAVY PLATES Oil and Gas Machinery, Equipment and Road Transport Naval Industry HOT ROLLED Distribution Automotive Agricultural COLD ROLLED White Line Automotive Civil Construction Automotive Civil Construction Agricultural Household Appliances HOT DIP GALVANIZED AND ELECTROGALVANIZED Domestic Market Exports OVERVIEW OF STEEL OPERATION Cubatão (2.3 MT/year) Ipatinga (4.6 MT/year) 6.9 million tons of flat steel/year ROLLING INSTALLED CAPACITY 991 959 938 930 979 112 122 69 59 55 1,104 1,081 1,007 989 1,034 3Q25 4Q25 1Q26 2Q26 3Q26
Page 17
Steel EBITDA (R$ mm) and EBITDA Margin (%) Net Revenue (R$ Million) Steel Unit Domestic Exports 308 227 544 688 538 5% 4% 10% 13% 10% 3Q25 4Q25 1Q26 2Q26 3Q26 Adjusted EBITDA EBITDA Margin Cost of Goods Sold per Ton (COGS/t) 5232 4793 4890 5067 5298 552 570 351 318 312 5,784 5,364 5,241 5,384 5,610 3Q25 4Q25 1Q26 2Q26 3Q26 4,982 4,747 4,664 4,737 4,849 3Q25 4Q25 1Q26 2Q26 3Q26
Page 18
Automotive 38% Distribution 32% Industrial 30% SALES BY SEGMENT (3Q26 - DOMESTIC MARKET, STEEL) EXPORT SALES VOLUME BY COUNTRY (3Q26 - STEEL) Diversification of products and markets – 3Q26 We have the capacity to produce a wide variety of steels, allowing us the flexibility to adjust our production according to market demands, both nationally and internationally * Excluding Argentina Domestic Market, 95% Export, 5% 81% 18% Argentina South and Central America* Others
Page 19
132 189 0 127 127 127 37 114 38 193 222 127 213 213 213 89 89 89 64 64 64 text 230 242 204 102 204 51 Coke Plant: Hot repair of Battery 3 & Partial reconstruction of battery 4 New PCI grinding and injection plant New Gasometer +R$ 3.5 Billion Key investments to enhance competitiveness
Page 20
Coke Plant 2 Hot repair of Battery 3 Increase in volume of in-house coke production Maintenance of the battery's service life Process control to reduce high- temperature impacts Operational safety and compliance with environmental parameters ~R$ 978 million 2028
Page 21
Coke Plant 2 Partial reconstruction of battery 4 Increase in coke and coke oven gas production capacity Reduction in third-party coke purchases Operational safety and compliance with environmental parameters 2029 ~R$ 1.7 billion
Page 22
New PCI grinding and injection plant Maximization of PCI injection as a substitute for coke in the blast furnace Improved transportation systems Greater energy and cost efficiency Reduction of GHG emissions ~R$ 597 million 2026
Page 23
New Gasometer Greater storage capacity, compatible with gas recovery/consumption capacity Improved operational conditions for LDG gas recovery storage Optimal conditions for preventive and corrective maintenance Cost reduction, increased energy generation, enhanced safety, and lower natural gas purchase ~R$ 233 million 2027
Page 24
Last 5 years (2021–2025) +500 Patents registered in Brazil and abroad +75 Dedicated professionals, including researchers, technicians and laboratory technicians 1,685 Completed research and development studies 72 Types of steel improved or developed by the R&D Center R$117M Invested in R&D R&D Center The most complete in the Steel Industry in Latin America Usiminas’ Competitive Advantages
Page 25
Oil and Gas ❖ ❖ ❖ Main Products Automotive ❖ ❖ ❖ Industry ❖ ❖ ❖
Page 26
Steel The total crude steel generation capacity is 5 million tons and is located in Ipatinga. Current capacity for generating finished products, considering the galvanizing lines (EG and HDG) and heavy plates at their maximum capacities. Galvanized Heavy Plates Hot Rolled Cold Rolled Electrogalvanized HDG Total Total Production Capacity of Products for Sale 1,000 1,800 2,710 360 1,030 6,900 Steel Unit
Page 27
✓ Strategically located in the Iron Ore Quadrangle, largest iron ore producing region in Brazil ❑ Close to Usiminas steel plants ✓ Access to MRS railway providing direct access to international export markets ❑ Usiminas/MUSA holds approximately 20% of the voting shares of MRS Logística providing long-term access capacity to connect with export iron ore terminals ❑ 50% stake in Terminal Modal (MG) and 22.2% in Terminal de Sarzedo (MG) providing in-land connections to MRS railway Usiminas Iron Ore Operation (“MUSA”) COMPANY OVERVIEW MAIN PRODUCTS ✓ Mineração Usiminas, a joint-venture between Usiminas (70%) and Sumitomo Corporation (30%) ✓ Open pit iron ore mining company operating in the Serra Azul region ✓ 9.6 million tons sold in 2025. ✓ It produces a mix of lump, fines and pellet feed ✓ Significant volume of iron ore resources in the Serra Azul region (MG) MRS railway network area MRS Railway Iron Ore Quadrangle Sepetiba Bay LOGISTICS OVERVIEW Usiminas Steel Facilities Santos Port LUMP SINTER FEED (SFMU) CONCENTRATE (CCMU) Mineração Usiminas
Page 28
Mining EBITDA (R$ mm) and EBITDA Margin (%) Mining Unit Iron Ore Sales (thousand tons) 486 592 484 465 344 170 186 108 147 183 1,846 1,684 1,355 1,856 1,487 2,503 2,463 1,946 2,469 2,014 3Q25 4Q25 1Q26 2Q26 3Q26 Exports Usiminas Domestic 3rd parties 130 185 111 71 19 14% 14% 19% 8% 3% 3Q25 4Q25 1Q26 2Q26 3Q26 Adjusted EBITDA EBITDA Margin Net Revenue (R$ thousand) and Mining Net Revenue (US$/t) 950 988 781 867 668 $79 $87 $87 $78 $75 3Q25 4Q25 1Q26 2Q26 3Q26
Page 29
29 Dry Stacking Dewatering and dry tailings disposal solution as a replacement for the conventional dam-based method. Dewatered Tailings Stack Recovered Water Tailings + Water Filtration Plant Total investment: US$ 45 million Inauguration: December 2021 Iron Ore Processing Plant Watch how Usiminas’ Dry Stacking process works. ITM CENTRAL ITM FLOTAÇÃO ITM SAMAMBAIA ITM OESTE Dewatered Tailings Stack
Page 30
Domestic Market Exports Adjusted EBITDA EBITDA Margin Main Consolidated Figures (1/2) 5,253 4,816 4,901 5,083 5,316 1,351 1,359 970 1,049 886 6,604 6,175 5,871 6,131 6,202 3Q25 4Q25 1Q26 2Q26 3Q26 434 417 653 761 558 7% 7% 11% 12% 9% 3Q25 4Q25 1Q26 2Q26 3Q26 Net Revenue (R$ millions) EBITDA (R$ Million) and EBITDA Margin (%)
Page 31
Mining Steel Main Consolidated Figures (2/2) CAPEX (R$ Million) Working Capital (R$ Billion) 247 325 210 273 261 19 47 75 50 24 266 372 285 323 285 3Q25 4Q25 1Q26 2Q26 3Q26 6.6 6.0 6.1 6.3 6.7 3Q25 4Q25 1Q26 2Q26 3Q26
Page 32
CASH, GROSS DEBT, NET DEBT AND LEVERAGE (R$ BILLION) DEBT PROFILE Agency Global National Ba2 AAA.br BB brAAA BB AA+(bra) RATING AGENCY ASSESSMENT GROSS DEBT AMORTIZATION PROFILE - PRINCIPAL ONLY (R$ MILLIONS) Solid financial discipline Net Debt/EBITDA 6.0 6.9 6.7 6.8 6.7 6.4 6.5 6.3 6.3 6.3 0.3 (0.4) (0.4) (0.5) (0.5) 0.16x -0.22x -0.20x -0.22x -0.20x 3Q25 4Q25 1Q26 2Q26 3Q26 Gross Debt Cash Net Debt Emission Series Value (millions) Rate (pa) Maturity Bonds - USD 500 7.500% 2032 8th Debenture Issue 2nd Series BRL400 CDI + 1.70% 2028 and 2029 9th Debenture Issue 2nd Series BRL966 CDI + 1.65% 2028 and 2029 3rd Series BRL374 CDI + 1.95% 2030, 2031 and 2032 10th Debenture Issue 1st Series BRL 1,476 CDI + 1.35% 2029 2nd Series BRL303 CDI + 1.50% 2030 and 2031 59% 41% BRL USD 3,586 3,162 6,747 6 25 708 2,168 274 274 2,665 Cash 2026 2027 2028 2029 2030 2031 2032 Gross Debt (principal only) Cash (Local Currency) Cash (Foreign Currency) Debt (Local Currency) Debt (Foreign Currency) Debt Duration: R$: 33 months US$: 54 months
Page 33
Governance and Highlights Culture of social, environmental and employee responsibility Usiminas1 2 3
Page 34
USIMINAS Classificação da informação: Confidencial Investor Relations Updated decarbonization target 2025 results and roadmap to reach 2.44 tCO₂e/tLQe by 2030 2025 INTENSITY 2.59 tCO₂e/tLQe −2.6% vs. 2024 baseline A broader target 1 Scope 3 Purchased slabs and raw materials 2 GHG Protocol New calculation methodology 3 Expanded boundaries Coverage through hot rolling Decarbonization roadmap to 2030 Estimated contribution of each lever to lower emissions intensity −8% 2030 TARGET VS. 2024 2.66 → 2.44 tCO₂e/tLQe 5.4% CONTRIBUTION Energy efficiency and performance Process improvements, operational efficiency and asset performance. 1.3% CONTRIBUTION Biomass Greater use of renewable-origin carbon sources in processes. 1.2% CONTRIBUTION Raw materials optimization Mix adjustments and more efficient use of raw materials. 0.1% CONTRIBUTION Renewable energy Expansion of renewable energy consumption and self-generation. 2030 target: reduce emissions intensity by 8.0% versus the 2024 baseline. 34
Page 35
People and Safety Sustainability in 2025 21.2 thousand direct and indirect employees. 100% of the workforce covered by the health and safety management system. 723 thousand training hours 35% more than in 2024. projects supported in culture, sports, healthcare and social development Climate, Circularity and Nature 1.5 million gigajoule reduction in energy consumption compared with 2024, resulting from process improvements in the Steelmaking operations. More than 94% water recirculation across the main steelmaking operations R$ 21.6 million invested in community engagement initiatives, combining the Company’s own funds and tax incentives. 54 7,496 hectares preserved at Mineração Usiminas 35% more than 2024. 645 engagements with communities and institutions 55% more than in 2024 Source: 2025 Sustainability Report Communities and Local Development
Page 36
Governance and Highlights Culture of social, environmental and employee responsibility Usiminas1 2 3
Page 37
External frameworks, controls and standards that reinforce ethical and transparent business practices Governance, Integrity and ESG Recognition I NTEG RI TY CO NTRO L S AND TRANS P AR EN C Y ESG RECOGNITION ETHICAL CULTURE 99% completion rate for Code of Conduct training INTEGRITY PROGRAM 97% average completion rate for integrity e-learning courses CONFLICTS OF INTEREST 99.4% adherence to the Conflict-of-Interest Declaration CONTROL ENVIRONMENT 397 internal controls implemented in 2025 VALUE CHAIN 180 third-party assessments conducted in 2025 SUSTAINABILITY REPORT ASSURANCE External assurance by Russell Bedford, in accordance with GRI Standards Results and recognition reported in the 2025 Sustainability Report EMISSIONS TRANSPARENCY Brazilian GHG Protocol Program for the Steel and Mining sectors Gold Seal CLIMATE MANAGEMENT the Company's highest-ever score CDP Climate Score B CAPITAL MARKETS The only Brazilian steelmaker included for the fourth consecutive year ISE B3
Page 38
New shareholders' agreement In July 2023, the Company amended and restated the Usiminas Shareholders' Agreement Shareholders' Agreement - valid until November 2031 Board of Directors Usiminas' corporate governance model meets government and market requirements for publicly traded companies, preserving and encouraging transparency Shareholders and Management ◼ Ternium is a leading steel producer in the Americas, supplying advanced steel products to a wide range of manufacturing industries and to the construction sector ◼ Ternium invests in low-carbon steel production technologies to support the energy transition and mobility of the future. TT also supports the development of our communities, especially through educational programs in Latin America Shares with voting rights (ON) 56% Preferred shares (PN) 44%Total Shares 1,253,079,108 Market Cap: US$ 10.5bi (as of October 2026) Previdência Usiminas 4.84% T/T Group 63.73% T/T Group 7.29% Other Investors 24.14% Controlling Group: 68.57% of the Voting Capital T/T Group 1.79% Other Investors 98.21% Pedro Henrique Teixeira Oscar Martinez Edílio Veloso Independent Member Cynthia Caride Ronald Seckelmann Rita Rebelo Elias Brito President Fernando Barreto Independent Member Juan Ignacio
Page 39
Policies in place that guarantee investor security, transparency of actions, management control and clear communication 39 Profit Allocation Policy Policy of the Remuneration of the Members of the Board of Officers Policy of Contracting of Extra- audit Services Information Disclosure and Securities Trading Policy Code of Ethics and Conduct P Anticorruption Policy P Competition Policy P Policy of Conflict of Interests and Transactions with Related Parties P Policy of Rewards, Gifts and Hospitalities P Policy of Sponsorship and Donations P Policy on Relationships with Third-Party Intermediaries P Integrity Program Other policies to support governance Risk Management Policy Environmental Compliance Policy Information Security Policy P P P P P P P Corporate Governance Corporate Governance ✓The Board of Directors is responsible for general strategic policies • 9 current members, 2 of whom are independent • Election for 2-year unified terms ✓Risk Management Committee reporting quarterly to the Audit Committee ✓Human Resources Committee ✓Audit Committee ✓Permanent Audit Board with members elected at the General Meeting ✓Ongoing compliance with SOX, helping to mitigate risks related to the integrity of financial statements