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1 / 25 November 4, 2026 Third Quarter of 2026 Earnings Conference Call and Webcast
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This presentation contains certain forward-looking statements and information relating to Ternium S.A. and its subsidiaries (collectively, “Ternium”) that are based on the current beliefs of its management as well as assumptions made by and information currently available to Ternium. Such statements reflect the current views of Ternium with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of Ternium to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic, political conditions in the countries in which Ternium does business or other countries which have an impact on Ternium’s business activities and investments, changes in interest rates, changes in inflation rates, changes in exchange rates, the degree of growth and the number of consumers in the markets in which Ternium operates and sells its products, changes in steel demand and prices, changes in raw material and energy prices or difficulties in acquiring raw materials or energy supply cut-offs, changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or targeted. Ternium does not intend, and does not assume any obligation, to update these forward-looking statements. This presentation includes certain non-IFRS alternative performance measures such as Adjusted EBITDA, Cash Operating Income, Net Debt, Net Cash and Free Cash Flow. The reconciliation of these figures to the most directly comparable IFRS measures is included in Ternium’s applicable quarterly results Press Release in Exhibit I. These non-IFRS measures should not be considered in isolation of, or as a substitute for, measures of performance prepared in accordance with IFRS. These non- IFRS measures do not have a standardized meaning under IFRS and, therefore, may not correspond to similar non-IFRS financial measures reported by other companies. Forward-Looking Statements and Non-IFRS Alternative Performance Measures 2
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420 395 479 717 785 10.6% 10.5% 12.2% 16.5% 16.9% 0% 2% 4% 6% 8% 10% 12% 14% 16% 3Q25 4Q25 1Q26 2Q26 3Q26 130 (17) (18) 717 785 (58) 31 MINING SEGMENT 3Q262Q26 STEEL SEGMENT VOLUME PRICE/ MIX COST/ OTHERS INTERSEGMENT ELIMINATIONS ADJUSTED EBITDA ($ MILLION) AND ADJUSTED EBITDA MARGIN (%) ADJUSTED EBITDA QUARTERLY CHANGE ($ MILLION) Adjusted EBITDA climbed to $785 million, up 10% quarter-on- quarter, with a margin of 16.9%. Higher realized steel prices and shipments, partially offset by higher steel unit costs and a lower contribution from mining. Third Quarter of 2026 Adjusted EBITDA 3
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(270) 171 372 465 368 3Q25 4Q25 1Q26 2Q26 3Q26 NET INCOME (LOSS) ($ MILLION) NET INCOME QUARTERLY CHANGE ($ MILLION) Third Quarter of 2026 Net Income NET FIN. RESULTS USIMINAS LITIGATION INCOME TAX 2Q26 3Q26 465 45 4 4 368 49 OPERATING INCOME (192) Higher operating income and a positive swing in net financial results were more than offset by a higher income tax charge, reflecting deferred tax losses. Net income reached $368 million, after deferred tax losses of $116 million mainly related to the Mexican Peso depreciation. (3) OTHERS
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USA 3% Other 1% Brazil 24% Colombia 4% Other Markets 8% Mexico 54% Southern Region 14% GEOGRAPHICAL INFORMATION (THOUSAND TONS) REGIONAL DISTRIBUTION Third Quarter of 2026 Steel Segment Shipments 5 1,849 1,887 1,983 2,082 2,181 994 965 945 937 984 557 567 460 519 560 357 307 320 320 318 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 Mexico Brazil Southern Region Other Markets
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STEEL CASH OPERATING INCOME ($ MILLION) Third Quarter of 2026 Steel Segment Performance STEEL SHIPMENTS (MILLION TONS) AND REVENUE PER TON ($ PER TON) STEEL CASH OPERATING INCOME PER TON AND MARGIN 0 500 1000 1500 2000 0.0 3Q25 4Q25 1Q26 2Q26 3Q26 Revenue per Ton (right hand axis) 3.73.8 4.03.93.7 104 92 111 169 186 10% 9% 11% 16% 17% 0% 3Q25 4Q25 1Q26 2Q26 3Q26 Steel Cash Operating Income per Ton ($/ton) Steel Cash Operating Income Margin (%) 391 342 410 650 754 3Q25 4Q25 1Q26 2Q26 3Q26 6 Shipments rose 5%, while revenue per ton kept rising for a third consecutive quarter, supported by firmer prices in Mexico. Cash operating income grew 16% to $754 million, as pricing and volume gains outpaced higher raw material and slab costs. Profitability continued to improve, with cash operating margin expanding to 17%.
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Third Quarter of 2026 Mining Segment Performance MINING CASH OPERATING INCOME PER TON AND MARGIN Volumes fell 15% after Mineração Usiminas temporarily halted certain operations amid weaker export profitability. Cash Operating Income decreased on lower sales volumes and realized iron ore prices. Margin eased to 16%, from 18% in the prior quarter. 3.2 3.4 2.8 3.3 2.8 0 50 100 150 200 0.0 3Q25 4Q25 1Q26 2Q26 3Q26 Revenue per Ton (right hand axis) 12 14 22 17 14 14% 16% 22% 18% 16% 0% 3Q25 4Q25 1Q26 2Q26 3Q26 Mining Cash Operating Income per Ton ($/ton) Mining Cash Operating Income Margin (%) 7 38 48 61 58 40 3Q25 4Q25 1Q26 2Q26 3Q26 MINING CASH OPERATING INCOME ($ MILLION)MINING SHIPMENTS (MILLION TONS) AND REVENUE PER TON ($ PER TON)
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535 528 217 256 613 174 135 (233) (418) (148) 3Q25 4Q25 1Q26 2Q26 3Q26 Cash from operations (Incr.) decr. in working capital (715) (712) (327) 112 (22) Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 CASH FROM OPERATIONS AND CHANGES IN WORKING CAPITAL ($ MILLION) Third Quarter of 2026 Cash Flow and Balance Sheet CAPEX ($ MILLION) NET (CASH) DEBT POSITION ($ MILLION) Operating cash flow more than doubled to $613 million, after a $148 million working capital build. CAPEX remained focused on the new Pesquería slab mill, which is advancing on schedule. Free cash flow of $215 million restored a net cash position, despite a $74 million markdown in Argentine securities. 711 463 406 431 398 3Q25 4Q25 1Q26 2Q26 3Q26 8
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First Nine Months of 2026 Performance Summary NET INCOME ($ MILLION)ADJUSTED EBITDA ($ MILLION) AND ADJUSTED EBITDA MARGIN (%) CAPEX ($ MILLION) • Adjusted EBITDA approached $2.0 billion, 73% above 9M25, with stronger pricing lifting margin to 15%. • Net income of $1.2 billion translated into $4.26 per ADS. • With the investment peak behind us, CAPEX fell 39% to $1.2 billion. • Ternium’s Board of Directors approved an interim dividend of $0.90 per ADS, payable November 17, 2026. 2,740 2,038 1,541 1,146 1,981 16% 12% 10% 10% 15% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 0 500 1000 1500 2000 2500 3000 3500 2023 2024 2025 9M 2025 9M 2026 986 174 303 132 1,205 0.0 200.0 400.0 600.0 800.0 1,000.0 1,200.0 1,400.0 1,600.0 1,800.0 2,000.0 2023 2024 2025 9M2025 9M2026 9 1,461 1,865 2,501 2,038 1,235 2023 2024 2025 9M2025 9M2026 9 ANNUAL DIVIDEND ($ PER ADS) 2.70 3.30 0.90 2022 2023 2024 2025 2026 1.80 0.900.901.10 2.20 2.70 2.20 0.90 1.30 1.80
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