Slides
Page 1
SALZGITTER AG PRESENTATION OF THE GROUP SALZGITTERAG People , Steel and Technology
Page 2
2/ © 2026 Salzgitter AG / AGENDA / Salzgitter Group / Market Situation / Business Units / Strategy / Guidance
Page 3
3/ © 2026 Salzgitter AG / SALZGITTER GROUP
Page 4
4/ © 2026 Salzgitter AG / GLOBAL PRESENCE Salzgitter Group
Page 5
5/ © 2026 Salzgitter AG / GROUP STRUCTURE AND KEY DATA FY 2025 Salzgitter Group / External Sales: € 1.2 billion / Employees: 4,112 / EBT: €-116.5 million / External Sales: € 3.2 billion / Employees: 7,637 / EBT: € -65.6 million / External Sales: € 2.6 billion / Employees: 1,599 / EBT: € 31.0 million / External Sales: € 1.8 billion / Employees: 5,897 / EBT: € 112.8 million Steel Processing Trading Technology External Sales: € 9.0 billion / EBT: € -27.7 million / Employees: 22,014 All data about employees as per 12/31 Salzgitter Group Steel Production
Page 6
6/ © 2026 Salzgitter AG / GROUP STRUCTURE Salzgitter Group Steel ProcessingSteel Production Trading Industrial Participations / Consolidation Salzgitter Mannesmann / Salzgitter Klöckner-Werke Salzgitter Group Technology Salzgitter Flachstahl Mannesmann Precision Tubes Salzgitter Mannesmann Handel Gruppe KHS Verkehrsbetriebe Peine-Salzgitter Salzgitter Digital Solutions TELCAT MULTICOM Salzgitter Automotive Engineering Salzgitter Hydroforming Salzgitter Business Service Salzgitter Mannesmann Forschung Glückauf Immobilien RSE Grundbesitz und Beteiligungen Aurubis Hansaport Universal Eisen und StahlMannesmann Line Pipe Mannesmann Grossrohr Ilsenburger Grobblech Salzgitter Mannesmann Grobblech Hüttenwerke Krupp Mannesmann EUROPIPE 50% 51% 29.99%* Peiner Träger DEUMU Deutsche Erz- und Metall-Union Salzgitter Mannesmann Stahlservice Salzgitter Europlatinen As of: July 2026, simplified display *) Incl. Aurubis shares amounting to 4.4% of its issued share capital, which are made available to the investors of the 2025 exchangeable bond via a stock lending facility, and must be transferred ba ck by the end of the term of the exchangeable bond at the latest
Page 7
7/ © 2026 Salzgitter AG / EXTERNAL SALES 2025 BY PRODUCT GROUP Salzgitter Group 44% Strip steel19% Filling- and packaging lines 11% Tubes 8% Section steel 8% Plate 10% Other Broad product portfolio Only from entities within the group of consolidated companies of Salzgitter Group, excluding EUROPIPE Group
Page 8
8/ © 2026 Salzgitter AG / EXTERNAL SALES 2025 BY CUSTOMER INDUSTRIES Salzgitter Group Diverse customer base Only from entities within the group of consolidated companies of Salzgitter Group, excluding EUROPIPE Group 3% Energy sector and utilities 15% Vehicle construction 13% Construction industry 18% Food and beverage industry 5% Mechanical engineering 4% White goods, electrical equipment 4% Re-Roller 24% Traders, Steel-Service-Centers 4% Tubes producers 10% Other
Page 9
9/ © 2026 Salzgitter AG / EXTERNAL SALES 2025 BY REGIONS Salzgitter Group Sales by consignee (only from entities within the group of consolidated companies of Salzgitter Group, excluding EUROPIPE Group ) 11% Americas 4% Other Europe 42% Germany 5% Others 8% Asia 30% Other EU Share of ex-Germany sales by consignee 58%
Page 10
10/ © 2026 Salzgitter AG / KEY DATA FINANCIAL YEAR 2025 Salzgitter Group Salzgitter Group delivers pretax result at breakeven level ΔGJ 2024GJ 2025 -5116,3915,880ktCrude steel production -1,03010,0128,981€ millionExternal sales1 -39445406€ millionEBITDA VX2 -69445376€ millionEBITDA 298-2962€ millionEBT VX2 268-296-28€ millionEBT 278-348-70€ millionEAT 5,1-6.5-1.4€EPS (undiluted) --1.2%ROCE VX2 4,0-3,40,7%ROCE -36722,38122,014Core workforce3 1 only from entities within the Group of Consolidated Companies of Salzgitter Group 2 Underlying figure excluding earnings effects related to the valuation of the exchangeable bond 3 per reporting date
Page 11
11/ © 2026 Salzgitter AG / BALANCE SHEET Salzgitter Group Continuing sound financial basis Assets Equity & Liabilities Non-current assets Inventories Cash and securities Other current assets Equity Pension provisions Other non-current liabilities Current liabilities1,731 1,714 3,532 2,3411,002 1,065 846 2,299 2,741 2,532 1,638 1,408 4,992 5,170 4,449 4,433 10,465 10,481 10,465 10,481 2024/12/31 2025/12/31 2024/12/31 2025/12/31
Page 12
12/ © 2026 Salzgitter AG / 498 329 299 316 176 152 401 295 229 202 2024 2025 H1 2026 2026e INVESTMENTS AND DEPRECIATION Salzgitter Group Inflow of public funding kept cash flow for investment on low level; HKM with additional CAPEX of around € 100 million Investments1 Unscheduled Depreciation Scheduled Depreciation 2 Excluding payment of SALCOS® liabilities (f ixed asset addition in the prior year) (€ million) 899 528 2 SALCOS® (including grants) ~650 1 Property, plant, and equipment and intangible assets, excluding SALCOS® and financial assets 2 Public funding received € 290 million 3 HKM additional ~100 3 In addition € 80 million in funding for 2025 (effect on payments in 2026) 88
Page 13
13/ © 2026 Salzgitter AG / YOUNG YET WITH GREAT TRADITION Salzgitter Group 1858 Ilseder Hütte 1970 Stahlwerke Peine-Salzgitter AG 1992 Preussag Stahl AG 1998 Salzgitter AG 1937 Reichswerke AG für Bergbau und Eisenhütten 1597 Ilsenburger Kupferhammer 1897 Lothringer Hüttenverein 1964 Salzgitter Hüttenwerk AG 1923 Klöckner-Werke AG 1890 Mannesmannröhren- Werke 1990 Walzwerk Ilsenburg GmbH 2000 2007
Page 14
14/ © 2026 Salzgitter AG / MARKET SITUATION
Page 15
15/ © 2026 Salzgitter AG / EU TRADE POLICY Market Situation New steel safeguard measure takes effect / Import quotas halved, with 50% tari ff applied to imports exceeding quota / Melt & Pour starting in Q4, expansion to include steel derivatives next year / Significant reduction in imports – impact on prices (+€ 30/t S&P HRC ex works Italy) since late June CBAM is having an impact – weakne sses being addressed in the revision / CBAM is having an impact and ra ising import prices by 50–60 €/t / Proposals to expand CBAM to includ e downstream products and stricter anti-circumvention rules are under political negotiation Further trade defense measures / Anti-dumping measures against imports of cold-rolled sheet steel from 5 countries expected in September/October / Proceedings to extend existing antidumping measures have been initiated (Turkish hot-rolled coil)
Page 16
16/ © 2026 Salzgitter AG / ETS REVIEW Market Situation Regulatory framework remains robust / Results not expected until the first half of 2027 at the earliest / The EU ETS remains essentially unchanged Protecting pioneers / Current draft puts pioneering companies at a disadvantage compared to the status quo / Compensatory mechanisms are ne cessary to ensure investment security and economic viability Compensatory measures require mechanisms outside of the ETS as well / Leading markets for CO ₂ -reduced products “Made in the EU” / Energy prices, including hydrogen, at internationally competitive levels
Page 17
17/ © 2026 Salzgitter AG / RAW MATERIAL AND ENERGY PRICES Market Situation RAW MATERIAL PRICES ENERGY PRICES 100 200 300 400 Jan '24 Jan '25 Jan '26 75 100 125 150 Jan '24 Jan '25 Jan '26 Coal temporarily higher due to weather; ore (freight) and energy prices influenced by Middle East conflict IRON ORE (62% F e CFR China, US$/dmt) COKING COAL (FOB Australia, US$/t) ELECTRICITY (Futures market front year EEX, €/MWh) NATURAL GAS (Futures market front year EEX, €/MWh) 0 50 100 150 Jan '24 Jan '25 Jan '26 0 50 100 150 Jan '24 Jan '25 Jan '26
Page 18
18/ © 2026 Salzgitter AG / PRICE OF CO 2 EMISSION ALLOWANCES PRICE DEVELOPMENT CO2 EMISSION ALLOWANCES Market Situation 0 20 40 60 80 100 120 2021 2022 2023 2024 2025 2026 (€/t) Political statements on the upcoming review of the ETS weighed on the CO2 price at the beginning of 2026 – gradual increase is expected in the long term
Page 19
19/ © 2026 Salzgitter AG / STEEL PRICES Market Situation SPOT PRICES NORTHERN EUROPE INTERNATIONAL HOT-ROLLED COIL PRICES(€/t) (€/t) HRC EXW Ruhr Plate EXW Ruhr Medium sections Northern Europe EXW Ruhr USA EXW Indiana China Shanghai 300 500 700 900 1,100 1,300 Jan' 24 Jul' 24 Jan' 25 Jul' 25 Jan' 26 Jul' 26 European steel prices have recently trended upward, partly due to the introduction of the CBAM and expectations regarding the successor to the safeguard measure 300 500 700 900 1,100 1,300 Jan' 24 Jul' 24 Jan' 25 Jul' 25 Jan' 26 Jul' 26
Page 20
20/ © 2026 Salzgitter AG / STEEL PRODUCTION BUSINESS UNIT
Page 21
21/ © 2026 Salzgitter AG / OVERVIEW Steel Production Business Unit 1 only from entities within the group of consolidated companiesof Salzgitter Group 7% Others 3% Mechanical engineering 1% Tube producers 40% Traders 10% Re-roller 30% Vehicle construction 2% Construction industry 8% White goods, electrical equipment Broad range of high-quality steel products CAPABILITIES COMPETENCES AND PRODUCTS EXTERNAL SALES BY CUSTOMER INDUSTRY 1 KEY DATA FY 2025 3,166€mConsolidated Sales -65,6€mEarnings before taxes 7,637Core workforce (12/31) / Integrated steel works w ith three blast furnaces / Steel works with two blast furnaces / Top-modern mini mill with two electric arc furnaces / Modern production plants / High processing competence (SSC) / High-quality steel grades for sophisticated applications / Custom made solutions, e.g., hot-rolled and cold-rolled coil, galvanized and coated sheet, laser-welded tailored blanks and sections / Customer focus through local presence
Page 22
22/ © 2026 Salzgitter AG / SALZGITTER FLACHSTAHL STRIP PRODUCTS Steel Production Business Unit SUPPLIER OF PREMIUM OEM 20242025 4,0144,074ktShipments 3,6033,401€mSales 5,9066,00212/31Employees / Hot-rolled coil, cold-rolled coil, electrogalvanized, hot dip galvanized and organic coated sheet / Integrated steel works with 3 blast furnaces / Around 4.7 mt yearly crude steel capacity / Top modern production plants / High-tech downstream facilities / 5% market share in the EU27
Page 23
23/ © 2026 Salzgitter AG / PEINER TRÄGER SECTIONS Steel Production Business Unit 20242025 861809ktShipments 651618€mSales 80179012/31Employees / Medium and heavy steel beams, Peine sections / Progressive and flexible mini mill / Two top-modern electric arc furnaces / Adjusted crude steel capacity 1.0 mt/year / 13% market share in the EU27 / Two of the most efficient section mills worldwide with comprehensive range of products
Page 24
24/ © 2026 Salzgitter AG / HÜTTENWERKE KRUPP MANNESMANN STEEL PRODUCTION Steel Production Business Unit / Steelworks with two blast furnaces / Production of slabs and tube rounds / Up to 1,000 different active steel grades / Annual steel production > 4 million tons / 2026: Integration into the Sa lzgitter Group’s transformation strategy and start of construction of an electric arc furnace with a target annual production of approximately 2 million tons of steel20242025 2,9702,560€mSales 2,6072,87312/31Employees
Page 25
25/ © 2026 Salzgitter AG / SALZGITTER EUROPLATINEN PROCESSING Steel Production Business Unit 20242025 5462€mSales 909012/31Employees / Laser-welded tailored blanks for lighter car bodies
Page 26
26/ © 2026 Salzgitter AG / SALZGITTER MANNESMANN STAHLSERVICE STEEL SERVICE CENTER Steel Production Business Unit 20242025 456448ktShipments 420384€mSales 31329312/31Employees /T w o l o c a t i o n s / Modern plants and processes / 600,000 t/year processing capacity EXCELLENT POSITION IN THE HEART OF EUROPE Schwerte Salzgitter Nürnberg Fellbach Karlsruhe
Page 27
27/ © 2026 Salzgitter AG / DEUTSCHE ERZ- UND METALL-UNION GROUP METALS TRADING Steel Production Business Unit 20242025 767637€mSales 46045412/31Employees / Specialist trader for fe rrous scrap and metals / Service provider for loading activities / Processing of strip steel products
Page 28
28/ © 2026 Salzgitter AG / STEEL PROCESSING BUSINESS UNIT
Page 29
29/ © 2026 Salzgitter AG / OVERVIEW Steel Processing Business Unit 1 only from entities within the group of consolidated companiesof Salzgitter Group Broad range of high-quality plate products; global player in the high-quality segment of the global tubes market CAPABILITIES COMPETENCES AND PRODUCTS EXTERNAL SALES BY CUSTOMER INDUSTRY 1 KEY DATA FY 2025 1,222€mConsolidated Sales -116,5€mEarnings before taxes 4,112Core workforce (12/31) / Own crude steel supply via Hüttenwerke Krupp Mannesmann / Two rolling mills for plate with 1.1 mt annual capacity / Plate width up to 4,800 mm / Plant for the production of semis for the seamless tubes business / Plate: High-strength, wear resistant and specialized steel grades including offshore and tube grades / Mannesmann: Longitudinal and spiral welded large-diameter pipes, medium line pipes, seamless and welded precision tubes 6% Mechanical engineering 16% Tube producers 19% Vehicle construction 17% Other 11% Construction industry 19% Traders 11% Energy sector and utilities
Page 30
30/ © 2026 Salzgitter AG / ILSENBURGER GROBBLECH HEAVY PLATE Steel Processing Business Unit / Broad diversified heavy plate steel grades / Construction plate, fine grai ned construction plate, alloyed and unalloyed boiler plate, offshore and tube grades / SECURE protection steels / High-strength and wear resistant grades / 6% market share in the EU27 / State of the art facilities, one of the most modern water quenching plants 20242025 612627ktShipments 679629€mSales 68668412/31Employees
Page 31
31/ © 2026 Salzgitter AG / SALZGITTER MANNESMANN GROBBLECH HEAVY PLATE Steel Processing Business Unit / Heavy plate mill specialized in plate for longitudinally welded line pipe and similar applications, especially for EUROPIPE GmbH / Pipe bending plant for seamless and welded steel tubes in carbon, alloyed, and high-alloy steels / Test center with a wide range of mechanical and techno- logical tests 20242025 307336ktShipments 289306€mSales 43644312/31Employees
Page 32
32/ © 2026 Salzgitter AG / MANNESMANN PRECISION TUBES GROUP PRECISION TUBES Steel Processing Business Unit / Seamless and welded cold drawn precision tubes for the automotive and engineering industries as well as the energy sector / State of the art push bench plant for the production of hollows / One of the leading manufacturers in the EU28 (16% market share) / 8 locations in Germany, France and Mexico 20242025 183167ktShipments 442399€mSales 1,8071,68512/31Employees Structural tube Airbags Pump case Stabilizers Suspension components Seat belt- fixings Engine- components Drive shaftsDrivetrain and steering components Camshafts IHU/IHV
Page 33
33/ © 2026 Salzgitter AG / LINE PIPE Steel Processing Business Unit MANNESMANN LINE PIPE / HFI-welded medi um line pipes incl. plastic- and cement coatings MANNESMANN GROßROHR / Spiral-welded large-diameter pipes made of hot-rolled coil 20242025 242224€mSales 31431412/31Employees 20242025 7865€mSales 12112412/31Employees
Page 34
34/ © 2026 Salzgitter AG / EUROPIPE GROUP LINE PIPES Steel Processing Business Unit / Shareholder: SZAG 50%, Dillinger Hüttenwerke 50% / Longitudinal welded la rge-diameter pipes for transcontinental and underwater pipelines / In-house coating activities / Reported at equity 20242025 91142ktShipments 145203€mSales 51651212/31Employees
Page 35
35/ © 2026 Salzgitter AG / TRADING BUSINESS UNIT
Page 36
36/ © 2026 Salzgitter AG / OVERVIEW Trading Business Unit 1 only from entities within the group of consolidated companiesof Salzgitter Group High customer and market orientation through a global sales organization CAPABILITIES COMPETENCES AND PRODUCTS EXTERNAL SALES BY CUSTOMER INDUSTRY 1 KEY DATA FY 2025 2,629€mConsolidated Sales 31€mEarnings before taxes 1,599Core workforce (12/31) / Own distribution network for steel products with warehousing sites in Europe / Processing group specialized in heavy plate products / International trading / Global presence in all relevant regions with own representation / Distribution channel for Salzgitter Group products / Procurement channel for Salzgitter Group works / Value added services for customers 12% Other 2% Vehicle construction 38% Construction industry 3% White goods, electrical equipment 9% Mechanical engineering 4% Tube producer 26% Traders 2% Re-roller 4% Energy sector and utilities
Page 37
37/ © 2026 Salzgitter AG / SALZGITTER MANNESMANN HANDEL GROUP TRADING Trading Business Unit 20242025 3,2192,964ktShipments 2,8422,456€mSales 1,5151,27212/31Employees / Stockholding trading: /9 c o m p a n i e s / 33 locations in Europe / Customized processing and specifications / International trading: /8 c o m p a n i e s / 4 agencies / 21 locations worldwide / Full-service provider from procurement to financing, logistics and legal
Page 38
38/ © 2026 Salzgitter AG / UNIVERSAL EISEN UND STAHL GROUP TRADING Trading Business Unit 20242025 164163ktShipments 263244€mSales 33532712/31Employees / Specialized in heavy plate /6 c o m p a n i e s / 9 locations in Europe and North America / In-house production facilities for rolling, pipe and tube manufacturing as well as machining
Page 39
39/ © 2026 Salzgitter AG / TECHNOLOGY BUSINESS UNIT
Page 40
40/ © 2026 Salzgitter AG / OVERVIEW Technology Business Unit 1 only from entities within the group of consolidated companiesof Salzgitter Group Top 3 producer for filling and packaging industry CAPABILITIES COMPETENCES AND PRODUCTS EXTERNAL SALES BY CUSTOMER INDUSTRY 1 KEY DATA FY 2025 1,767€mConsolidated Sales 113€mEarnings before taxes 5,897Core workforce (12/31) / 10 production plants worldwide / > 90% of sales outside of Germany / KHS: Among the top 3 global suppliers for filling and packaging machines; technology and innovation leadership / Turn-key lines, single machines and service 1% Energy sector and utilities 2% Mechanical engineering 3% Vehicle construction 93% Food and beverage industry
Page 41
41/ © 2026 Salzgitter AG / KHS GROUP FILLING AND PACKAGING TECHNOLOGY Technology Business Unit / A global leader and solution provider of first choice in the packaging industry / Among the top 3 producers / Focus on beverage applications / Supplier of single machines and turnkey solutions (one-stop-shop supplier) / Leadership in technology and innovation / 10 production sites: 5 in Germany, and one each in the U.S., Mexico, Brazil, China and India 20242025 1,6541,649€mSales 5,2525,39412/31Employees
Page 42
42/ © 2026 Salzgitter AG / INDUSTRIAL PARTICIPATIONS
Page 43
43/ © 2026 Salzgitter AG / OVERVIEW Industrial Participations 1 Underlying figure excluding earnings effects related to the valuation of the exchangeable bond Activities that are not directly allocated to a business unit COMPETENCES AND PARTICIPTATIONS KEY DATA FY 2025 198€mConsolidated Sales 40€mEarnings before taxes VX 1 11€mEarnings before taxes 2,575Core workforce (12/31) /S e r v i c e s : / Research and development for the Group and external customers / Information technology / Engineering services / Real estate- and facility development as well as management / Freight traffic / Intra-group shared service center / Shareholdings: / Aurubis /H a n s a p o r t
Page 44
44/ © 2026 Salzgitter AG / AURUBIS AURUBIS PARTICIPATION Industrial Participations 1.20 1.35 1.10 1.00 1.35 1.25 1.45 1.55 1.25 1.30 1.60 1.80 1.40 1.50 1.60 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 10/11 11/12 12/13 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23 23 /24 24 /25 / Net dividend received since 2009 : € 211.0 million (per FY 24/25)
Page 45
45/ © 2026 Salzgitter AG / SALZGITTER MANNESMANN FORSCHUNG ENGINEERING Industrial Participations / Research and development for the Group and external customers / Processes for the manufacture, processing and application of metallic materials and products made of them / Development of new materials / Development of application areas / Material and component characteriza tion including testing techniques / Application and engineering technology from component design through forming and assembly to corrosion protection / Automation and testing techniques, as well as the construction of non- destructive testing facilities
Page 46
46/ © 2026 Salzgitter AG / GLÜCKAUF IMMOBILIEN, RSE RAW MATERIALS & LOGISTICS Industrial Participations / Companies specialized in real es tate- and facility development as well as management VERKEHRSBETRIEBE PEINE-SALZGITTER / Commercial transportation provid er with an annual freight volume of more than 40 million tons HANSAPORT / Germany's largest seaport term inal for handling dry bulk goods (coal and ores), annual capacity of approximately 15 million tons / Salzgitter AG share: 51%
Page 47
47/ © 2026 Salzgitter AG / SALZGITTER DIGITAL SOLUTIONS DATA PROCESSING & COMMUNICATIONS Industrial Participations / Integration of business processe s into one uniform IT-solution that reflects the entire workflow, electronic data processing center capacities and the internet-based eService platform as a unified hub for order processing are offered for group companies and external clients TELCAT MULTICOM / Germany-wide operating ICT system house with a focus on telecommunication, information technology and technical infrastructure security
Page 48
48/ © 2026 Salzgitter AG / STRATEGY
Page 49
49/ © 2026 Salzgitter AG / VISION AND MISSION Strategy PIONEERING FOR CIRCULAR SOLUTIONS We are the market leader for circular economy solutions in global industrial value chains with our innovative products and processes. PARTNERING FOR TRANSFORMATION Together we will resolutely chart new courses, transform industry, and create sustainable value for the future.
Page 50
50/ © 2026 Salzgitter AG / AMBITION: TO BECOME MARKET LEADER IN CIRCULAR ECONOMY Strategie KEY POINTS / For us, circularity means using resources for as long as possible and minimizing the supply of new resources / Together with our partners, we want to be pioneers and help shape the standards of the circular economy / In order to implement the principles of the circular economy, we take a holistic approach to processes and product development / When we develop new products, we include the entire life cycle of the product in the sustainable design.
Page 51
51/ © 2026 Salzgitter AG / SALZGITTER AG'S DECARBONIZATION APPROACH Strategy SCIENCE-BASED HOLISTIC IMP ACT-ORIENTED TRANSPARENT Our goals are based on globally recognized scientific findings to meet the 1.5-degree target of the Paris Climate Agreement. We consider both our direct impacts and those in the upstream and downstream value chain at home and abroad. We focus on cost-efficient measures to avoid CO2 emissions in the long term in all business areas. We regularly communicate our progress and invite our stakeholders to participate.
Page 52
52/ © 2026 Salzgitter AG / HOLISTIC APPROACH FOR ECONOMIC STABILITY Strategy ORGANIC GROWTH INITIATIVES & PERFORMANCE MEASURES Steel Production: New shredder and sorting plant, LESS certifications ensure transparency, tapping into market potential with SALCOS® steel as a first-mover offering Steel Processing: Expansion and new TL approvals for the SECURE product family, new hot-straightening line to expand the product portfolio, new waterjet cutting line to improve product quality Trading: Expansion of green steel in the Middle East and scrap in Africa and South Asia, marketing of high- quality heavy plate, particularly in Asia Technology: Introduction of the SmartCan can line to reinforce the globally leading position in can-making lines, further consolidation of Plasmax in India and Africa Portfolio measures: Sale of DESMA Schuhmaschinen, acquisition of Thyrolf & Uhle Structural measures: Restructuring of the Steel Processing and Trading business units Profit Improvement Program: Expanded P28 Profit Improvement Program: 2025 target exceeded, ambition level raised Economic measures: Successful placement of an exchangeable bond, focused cash management
Page 53
53/ © 2026 Salzgitter AG / SALCOS ®: TRANSFORMATION OF THE SALZGITTER STEELWORKS Strategy TRANSFORMATION COMPLETEDSALCOS® STAGE 1STATUS QUO Heute 2027 almost CO2 neutral -30 % CO2 Mid-2030s Finalization of SALCOS® Stage One is secured and the plants will start production in 2027. The decisions on the realization date of the following steps of SALCOS® will be postponed by three years due to the economic and political framework conditions. Salzgitter AG is committed to the complete transformation of steel production in Salzgitter and plans to have concluded this by the mid-2030s. CO2 emissions (8 mt/a)
Page 54
54/ © 2026 Salzgitter AG / SALCOS ® PHASE 1: #THISISHAPPINGHERE Strategy / Commissioning planned for 2027 / Steel structure of the 120-mete r-tall HyTemp tower fully assembled / Numerous large components are now installed in their final positions / Work on utility and power supply systems is on schedule / Final assembly phase of the plant engineering at the EAF is underway / Increase in public fundin g for SALCOS® to 1.322 billion euros in early 2026 / Completion of the overall transformation by the mid-2030s / Investment decisions regarding the next implementation steps are currently on hold; in the meantime, preparations for these steps are underway PREPARATIONS FOR COMMISSIONING PROCEEDING AS PLANNED MODULARITY ENABLES FLEXIBLE TRANSFORMATION
Page 55
55/ © 2026 Salzgitter AG / WE TAKE RESPONSIBILITY SALZGITTER ACQUIRES 100% OF HKM Strategy / Salzgitter AG acquires 100% of the HKM shares from thyssenkrupp Steel and Vallourec / Full strategic and operational control enables Salzgitter to independently realign the value chain. / Transition to low-carbon steel production The EAF was contracted in July 2026. Completion is scheduled for late 2029. / Long-term CO₂ reduction of around 90% compared to current production methods is possible. / Extensive restructuring planned: Reduction of the workforce from the current level of approximately 3,000 to about 1,000 to ensure economic viability.
Page 56
56/ © 2026 Salzgitter AG / HKM – FINANCIAL IMPACT Strategy Results Positive contribution in H2 2026 due to consolidation Effects from PPA still under to evaluation, to be completed by the end of 2026 Balance Sheet Effects within the Group Extension of the balance sheet without fundamental changes to the structure Positive implication for leverageCash Impact on Salzgitter AG No significant cash impact over the next three years (around 100m €, in a holistic view)
Page 57
57/ © 2026 Salzgitter AG / DEFENCE: SECURE PROTECTION STEELS Strategy / Excellent protection combined with high tensile strength, toughness, and hardness / Weight optimization through ve ry tight thickness tolerances / Good processability via cutting, we lding, and cold and hot forming / Special-purpose vehicles – e.g., fo r civil defense (THW), Red Cross, UN / Civilian armored vehicles, military vehicles / Mobile shelters, field hospitals, building s and building equipment, e.g., shelters, bank counters, bureaux de change, shooting ranges, garages / Extended value chain through the acquis ition of Thyrolf & Uhle GmbH (T&U) / Developing Ilsenburger Grobblech GmbH into a full-service provider in the security steel sector; aiming for a low double-digit market share in the NATO region by 2030 / Universal Eisen und Stahl GmbH and T&U wi th the prospect of generating double- digit million-euro sales in the defense sector SECURE PROTECTION STEELS APPLICATIONS OUTLOOK
Page 58
58/ © 2026 Salzgitter AG / MANAGEMENT GUIDANCE
Page 59
59/ © 2026 Salzgitter AG / MANAGEMENT GUIDANCE Salzgitter Group Based on the business developments in the first half of 2026, and factoring in effects from changes in the group of consolidated companies following the completion of acquiring Hüttenwerke Krupp Mannesmann GmbH, we now anticipate the following for the Salzgitter Group in the financial year 2026: / sales of around € 10.0 billion, / a pre-tax result VX 1 of between € 325 million and € 425 million, as well as / a return on capital employed VX 1 (ROCE VX1) marginally above the previous year's figure. /E B I T D A V X1 of between € 725 million and € 825 million, Legal Note and other remarks As in recent years, please note that opportunities and risks from currently unforeseeable trends in selling prices, input material prices and capacity level developments, as well as exchange rate fluctuations along with the valuation of the exchangeable bond issued in October 2025, may, may considerably affect business performance in the course of the financial year. The resulting impact on performance may be within a considerable range, either to the positive or to the negative. To the extent that this presentation contains statements oriented towards or related to the future, such statements are based on our current state of knowledge and the estimates based on such knowledge made by the management of Salzgitter AG. However, as is the case with any forecasts or prognosis, such statements are also subject to uncertainties and risks. Notwithstanding prevailing statutory provisions and capital market law in particular, we are not obligated to update this data. In particular, we shall not assume liability of any kind for knowledge and statements, as well as any acts resulting on the basis of such knowledge or statements that emanate directly or indirectly from the analysis of the data, content and correlations of this document. The information and data made available do not represent an encouragement or invitation to buy, sell or conduct any other type of trade in securities. Salzgitter AG shall neither assume liability for direct nor indirect damages, including lost profits, arising as a result of the utilization of the information or data contained in this document. For computational reasons, rounding-off differences of +/– one unit (€, % etc.) may occur in the tables. This document is also available in German language. In the event of any discrepancy, the German version shall prevail. 1 Underlying figure excluding earnings effects related to the valuation of the exchangeable bond
Page 60
60/ © 2026 Salzgitter AG / BACKUP /F i n a n c e /P e n s i o n s / Investor Relations
Page 61
61/ © 2026 Salzgitter AG / FINANCE
Page 62
62/ © 2026 Salzgitter AG / KEY DATA PER 2026/06/30 Financials Salzgitter Group reports encouraging first half of 2026 1 only from entities within the Group of Consolidated Companies of Salzgitter Group 2 Underlying figure excluding earnings effects related to the valuation of the exchangeable bond 3 per reporting date Q1 2026Q2 2026ΔH1 2025H1 2026 1,5691,4651082,9263,034ktCrude steel production 2,3452,243-774,6654,588€ millionExternal sales 1 280179342117459€ millionEBITDA VX 19682161117278€ millionEBITDA 17979341-84258€ millionEarnings effects from the valuation exchangeable 95-19160-8476€ millionEarnings before tax 82-38132-8943€ millionEarnings after tax 1.5-0.72.4-1.70.7€Earnings per share (undiluted) 11.65.610.2-1.68.6%ROCE VX 2 -0.5-2.74.1-3.40.7%ROCE 22,48322,376-27622,37622,100Core workforce 3
Page 63
63/ © 2026 Salzgitter AG / INCOME STATEMENT Financials ΔH1 2025H1 2026Income Statement (€ million) -76.74,664.74,588.0Sales 121.5-165.4-43.9Increase/decrease in finished goods and work in process/other own work capitalized 44.84,499.24,544.0 -88.5312.8224.3Other operating income -122.22,937.12,814.9Cost of materials 13.5993.11,006.7Personnel expenses -6.9158.6151.6Amortization and depreciation of intangible assets and property, plant and equipment 13.4840.0853.4Other operating expenses -3.30.7-2.7Result from impairment losses and reversal of impairment losses of financial assets –0.91.20.3Income from shareholdings 113.673.0186.6Result from investments accounted for using the equity method -8.622.814.2Finance income -0.864.864.0Finance expenses 160.1-83.876.3Earnings before taxes (EBT) 27.75.132.8Income tax 132.4-88.943.5Consolidated result
Page 64
64/ © 2026 Salzgitter AG / CONSOLIDATED BALANCE SHEET Financials Δ31.12.202530.06.2026Assets (€ million) 91.25,169.85,261.0Non-current assets -72.23,015.42,943.2Intangible assets, property, plant and equipment -0.663.362.7Investment property 0.216.516.7Financial assets 173.21,805.21,978.4Investments accounted for using the equity method -0.10.80.7Trade receivables -1.445.744.3Other receivables and other assets 5.10.25.3Income tax assets -13.1222.7209.6Deferred income tax assets 282.95,311.05,593.9Current assets -76.22,532.12,455.9Inventories 212.21,038.41,250.6Trade receivables -18.7374.7356.0Contract assets -40.2263.3223.1Other receivables and other assets 0.237.938.1Income tax assets –4.104.1–Securities 142.31,060.51,202.8Cash and cash equivalents 67.50.067.5Assets available for sale 374.010,480.910,854.9Total assets
Page 65
65/ © 2026 Salzgitter AG / CONSOLIDATED BALANCE SHEET Financials Δ31.12.202530.06.2026Equity and liabilities (€ million) 109.54,432.84,542.3Equity 0.0161.6161.6Subscribed capital -5.4257.0251.6Capital reserve 58.24,343.94,402.1Retained earnings 14.020.734.7Other reserves -10.912.11.2Unappropriated retained earnings 55.4-369.7-314.3Treasury shares -1.77.25.5Minority Interest -600.63,707.13,106.5Non-current liabilities -15.11,408.21,393.1Provisions for pensions and similar obligations 1.0115.4116.4Deferred tax liabilities -0.118.418.3Income tax liabilities 5.1214.4219.5Other provisions -588.11,937.81,349.7Financial liabilities -3.312.99.6Other liabilities 865.02,341.03,206.0Current liabilities 24.1300.9325.0Other provisions 701.7283.3985.0Financial liabilities -34.51,049.81,015.3Trade payables -36.1439.0402.9Contract liabilities -1.05.84.8Income tax liabilities 175.9262.2438.1Other liabilities 34.90.034.9Liabilities associated with assets held for sale 374.110,480.810,854.9Total assets
Page 66
66/ © 2026 Salzgitter AG / ΔH1 2025H1 2026(€ million) 58.41,002.21,060.5Cash and cash equivalents at the start of the period -22.381.058.7Cash flow from operating activities 325.0-243.581.5Cash flow from investment activities 52.3-47.35.0Cash flow from financial activities -8.7-0.3-9.1Changes in cash 437.5765.21,202.8Cash and cash equivalents at the end of the period CASH FLOW STATEMENT Financials Cash and cash equivalents were significantly higher as a result of positive operating cash flow and cash flow from investing activities due to the receipt of additionally committed funding for SALCOS®
Page 67
67/ © 2026 Salzgitter AG / STEEL PRODUCTION BUSINESS UNIT Financials Significant earnings increase in the strip steel segment has positive impact on earnings 1 per reporting date Q1 2026Q2 2026ΔH1 2025H1 2026 877862351,7051,740€ millionExternal sales 1,4051,2201662,4592,625ktOrder bookings 1,2401,156971,0591,156ktOrder backlog 1 80799366159€ millionEBITDA 2426106-5650€ millionEBT 7,6397,673527,6737,725Core workforce 1
Page 68
68/ © 2026 Salzgitter AG / STEEL PROCESSING BUSINESS UNIT Financials Improved earnings, particularly in the heavy plate segment 1 per reporting date Q1 2026Q2 2026ΔH1 2025H1 2026 3192878598606€ millionExternal sales 437337-99873774€ millionOrder bookings 63760914596609€ millionOrder backlog 1 -11-127-40-13€ millionEBITDA -24-1624-63-40€ millionEBT 4,2204,212-1104,2124,102Core workforce 1
Page 69
69/ © 2026 Salzgitter AG / TRADING BUSINESS UNIT Financials Gratifying earnings performance due to temporary improvement in prices and margins, cost savings, and positive one-time effects from restructuring 1 per reporting date Q1 2026Q2 2026ΔH1 2025H1 2026 635631-1641,4301,266€ millionExternal sales 773703-2031,6791,476ktShipments 2624252551€ millionEBITDA 2017271138€ millionEBT 1,8361,689-1261,6891,563Core workforce 1
Page 70
70/ © 2026 Salzgitter AG / TECHNOLOGY BUSINESS UNIT Financials KHS Group continues its positive earnings trend 1 per reporting date Q1 2026Q2 2026ΔH1 2025H1 2026 46141531845876€ millionExternal sales 419329-154902748€ millionOrder bookings 1,2851,184-751,2591,184€ millionOrder backlog 1 4536127081€ millionEBITDA 3930145569€ millionEBT 5,9985,995-225,9955,973Core workforce 1
Page 71
71/ © 2026 Salzgitter AG / INDUSTRIAL PARTICIPATIONS / CONSOLIDATION Financials Earnings includes € 193 million contribution from the Aurubis participation 1 Underlying figure excluding earnings effects related to the valuation of the exchangeable bond 2 per reporting date Q1 2026Q2 2026ΔH1 2025H1 2026 53471387100€ millionExternal sales 14041184-4181€ millionEBITDA VX 56-573-4-1€ millionEBITDA 12021171-30140€ millionEBT VX 36-77-11-30-41€ millionEBT 2,7902,807-702,8072,737Core workforce 1
Page 72
72/ © 2026 Salzgitter AG / PENSIONS
Page 73
73/ © 2026 Salzgitter AG / INTERNAL FUNDING OVER LIFETIME OF EMPLOYEE MECHANICS OF INTERNAL PENSION COMMITMENT FUNDING Pensions Pension provision (non-cash) Contribution by SZAG (non-cash) Pension payment (cash) Joins company 5y e a r s Retirement / Provision is determined by developm ent of salary, time in employment at SZAG, life expectancy and inflation / Contribution as personnel expense an d interest element (both non-cash) / Monthly payout from operating cash flow
Page 74
74/ © 2026 Salzgitter AG / DISCLAIMER Pensions / Balance sheet: pension provisions € 1,408 m / Assets held by external funds: € 107 m / Non-current assets: € 5,172 m / Net position due to banks:€ -954 m / Projected Benefit Obligation (PBO): € 1,515 million / According to IAS 19: / Discount rate of 4.20% / in line with market average / Trend in salaries: 2.75% p.a. / Trend in pensions: 2.20% p.a. / Staff turnover: 1% p.a. / Valuation based on the actuarial principles Pension obligations completely covered by internal funds! 2025/12/312025/12/31
Page 75
75/ © 2026 Salzgitter AG / INVESTOR RELATIONS
Page 76
76/ © 2026 Salzgitter AG / SHAREHOLDER STRUCTURE AND SHARE TURNOVER Investor Relations DAILY TURNOVER IN THOUSAND SHARESSHAREHOLDER STRUCTURE Treasury shares: as of April 30, 2026; other information is based on the external shareholder identification as of May 2026 0 200 400 1Q | 23 4Q | 23 3Q | 24 2Q | 25 1Q | 26 9.9% Salzgitter AG 27.9% State of Lower Saxony 13.4% Retail investors 5.9% Other shareholders 33.3% Institutional investors 9.6% GP Günter Papenburg AG
Page 77
77/ © 2026 Salzgitter AG / DISCLAIMER Salzgitter AG COPYRIGHTS This data file and the data contained on these pages (including, among others, texts, images and graphics) are subject to copyright and other laws on the protection of intellectual property. To the extent that nothing contradicting or deviating is stated, all trademarks bear legal trademark protection. This applies in particular for Salzgitter company logos and product names. The brands and design elements used on our web pages are the intellectual property of Salzgitter AG. We therefore reserve all rights as such. The document serves to provide non- binding information regarding our company to the respective user, and may not be used within the framework of other depictions, in particular websites, without our express prior written consent. LEGAL NOTE To the extent that our Internet pages contain statements oriented towards or related to the future, such statements are based on our current state of knowledge and the estimates based on such knowledge made by the management of Salzgitter AG. However, as is the case with any forecasts or prognosis, such statements are also subject to uncertainties and risks. Notwithstanding prevailing statutory provisions and capital market law in particular, we are not obligated to update this data. In particular, we shall not assume liability of any kind for knowledge and statements, as well as any acts resulting on the basis of such knowledge or statements that emanate directly or indirectly from the analysis of the data, content and correlations of this document. The information and data made available do not represent an encouragement or invitation to buy, sell or conduct any other type of trade in securities. Salzgi tter AG shall neither assume liability for direct nor indirect damages, i ncluding lost profits, arising as a result of the utilization of the information or data contained in this document.