Rhi Magnesita Nv · LSE:RHIM
Rhi Magnesita Nv — Investor Day (July 2026)
45 slides from Rhi Magnesita Nv's investor day presentation, July 2026
Slide 1: RHI Magnesita Plant tour Austria 2026
RHI Magnesita Plant tour Austria 2026 Investors, analysts and business partners Capturing value in every step of the chain
Slide 2: Opening words: Capturing value in every step of the chain
Opening words: RHI Magnesita Austria plant tour 2026 Capturing value in every step of the chain Growth segment currently Moat at low maturity Raw material supply security Add moat via technology External sales Win-win-win situation* Mining and Asymmetric risk-reward Recycling raw R&D, materials engi
Slide 3: Important Information
Important Information At RHI Magnesita, at the start of every meeting, we allocate one minute to discuss crucial and recent safety matters. Use this opportunity to talk about and reflect on relevant safety subjects.
Slide 4: WINN rr7 EH,
WINN rr7 EH,
Slide 5: Local Emergency Instruction: Vienna Headquarters
Local Emergency Instruction: Vienna Headquarters Your closest Emergency Signs: assembly point. Assembly Point Escape Route First Aid Facility Fire extinguishers Emergency contact at Local HSE & Infrastructure: Stefanie Kröll: 0699 1870 6498 You are here. Richard Malek: 0699 1870 6666
Slide 6: Our Safety Culture Transformation
Our Safety Culture Transformation KPIs Life Lagging and leading Saving Rules indicators providing Our codex for safe behaviour in every the path towards zero severe injuries. Culture & aspect of our business Leadership The group’s safety culture transformation is our path towards zero. By focussing
Slide 7: Ian Botha CFO: RHIM investment case
Ian Botha CFO RHIM investment case
Slide 8: Refractories: the building blocks of modern life
1 ton of STEEL demands ~10-15 kg of refractories Refractories: the building blocks 1 ton of COPPER demands ~3 kg of refractories of modern life 1 ton of LITHIUM demands ~8 kg Cement Copper Lithium Silicon Steel Glass Aluminium of refractories 1,500°C 1,350°C 1,100°C 2,000°C 1,760°C 1,650°C 1,250°C 1
Slide 9: Global refractory market / value chain
Global refractory market / value chain Refractory market volume: ~35Mt Refractory market value: ~€40bn1 More opportunities in robotics and automation Our end - use industries 1,250 - 2,000 °C There is no substitution for refractories. Most refractory users are large high - quality (“blue chip”) clie
Slide 10: Global trends underpin longer-term growth prospects
Global trends underpin longer - term growth prospects New cities, roads, Industrialisation railways, houses, Trends and Decarbonisation Electrification Digitalisation offices, cars, urbanisation technology RHIM Structural Non - ferrous Customer value: Steel, Cement, Electric Arc metals 4PRO Energy,
Slide 11: RHIM has the leading market position with a structural right to win
RHIM has the leading market position with a structural right to win in our markets across the globe Leading Leading product suite Largest global footprint Operations in c.50 countries and more than 80 sites position, scale and proximity aligned to client needs Delivering more than refractories t
Slide 12: We are diversified in three business segments
1 We are diversified in three business segments ~65% of revenue ▪ Cash generative, recurring Steel ~21- 23% gross profit business with blue chip Combined client base Integrated steel, green steel Global market leader ▪ OPEX for customers in lean Our markets High regional global diversification corpo
Slide 13: Our strategic priorities
Our strategic priorities 2021-2026 Near-term (2026) Medium-term Fight a weak market Fortifying the foundations Step-change Offset earnings loss from lower Cash focus to build capital Focus Significant value creation demand and allocation optionality BWI • M&A opportunity • Self-help measures in a •
Slide 14: Self help makes the difference for earnings over the cycle
Self help makes the difference for earnings over the cycle Delivered margin progression in 2025H2 1 Administrative costs proves effectiveness ▪ SG&A outsourcing to Global Shared Service Centers ⁃ SG&A optimisation ▪ SAP 4HANA implementation 66m € ⁃ Network optimisation ▪ Other digitization projects
Slide 15: Significant competitive advantage driven by backward integration
Significant competitive advantage driven by backward integration Our raw Capturing revenue Significant material Cost efficiencies Decarbonisation growth opportunity in operational leverage strategy new markets and ROIC upside Operational Financial Global magnesite supply crisis Certainty of supply A
Slide 16: RHI Magnesita is a highly cash generative business
RHI Magnesita is a highly cash generative business Adj. Operating cash flow (m €), cash conversion (%)* 102% 88% 111% 102% 103% 105% Operational levers to improve cash conversion 40% - 84% Roll - out of a new supply chain technology 438 418 419 359 392 solution to improve inventory management 290 Re
Slide 17: Significant margin potential
Significant margin potential >13% In RHIM control ROIC Near-term focus Medium- term focus >14% Differentiation via >12% 4PRO solution ROIC business, products, services and profitable >13% M&A decarbonisation integration Cost / SG&A Value self-help accretive ~10% ROIC End market transactions €500- in
Slide 18: Disciplined capital allocation approach
Disciplined capital allocation approach Strong cash generation >90% Maintenance CAPEX Stable dividend FCF optionality Deleverage Organic investments M&A remains core Excess returns 2.6x by FY26 year end IRR hurdle 15% pillar Near-term focus Medium-term focus
Slide 19: Our value creation model
Our value creation model 1 Margin expansion 1 2%+ margin progression from FY25 base M&A opportunity upside 6 2 EBITA €435m in 2026 (constant currency) 2 Absolute profit growth 3 >90% cash conversion Commitment to a strong balance ROIC > 15% sheet 4 5 3 Strong free 5 1.0 - 2.0x through cycle leverage
Slide 20: Constatin Beelitz, Regional President Europe & CIS
Constatin Beelitz Regional President Europe & CIS
Slide 21: Regional president – our focus for the Europe region
Regional president – our focus for the Europe region Leaner cost base & supreme 4PRO offering Lower cost base via network Full integration of 4PRO optimisation and SG&A ▪ Integrated all the different elements in daily ▪ Our European network suffers from overcapacity operation and business practice (
Slide 22: You will experience how we deliver our 4PRO offering
You will experience how we deliver our 4PRO offering More than just Visit Visit plants Breitenau and Veitsch a Contract Willingsdorfer machinery partner With 4PRO, RHI Magnesita is offering innovative solutions to the evolving challenges of industry and society. Our portfolio includes recycled produ
Slide 23: Regional president – overview region Europe
Regional president – overview region Europe Europe is a key production and sales region Czech Republic: Production #19 plants (#5 mines) Velke Opatovice Svitavy Sales #9 offices Brezina/Brezinka ~€730m revenue 2025 Admin Germany: Recycling #8 sites Bochum Dahlhausen Marktredwitz Niederdollendorf ~25
Slide 24: Refractory value chain – all in one place in Austria
Refractory value chain – all in one place in Austria Burning magnesite (mineral) above 1800 °C results in a dense ceramic with a melting point >2000 °C making refractory materials possible Refractory raw materials can be applied in grains like a cement, shaped in dense bricks or processed into compl
Slide 25: Plant Veitsch Refractory plant
Plant Veitsch Refractory plant
Slide 26: Refractory making in Veitsch since 1881: Flagship plant
Refractory making in Veitsch since 1881: Recycling Mining and raw materials Flagship plant – large, efficient and flexible Business model & Refractory machinery making Role of the plant - Veitsch Services multiple end - use industries Most efficient European plant for high-volume Standard and low-co
Slide 27: Refractory plant Veitsch
Refractory plant Veitsch Recycling Mining and raw materials Runs all three refractory production routes Business model & Refractory machinery making Production volume up to 250,000t „Mixes“ Sales Volume €220-250m Export rate ex-EU ~34% „Bricks“ ~250 Employees ~80% own raw material usage* * Includes
Slide 28: Mine and plant Breitenau
Mine and plant Breitenau
Slide 29: Breitenau: Cash cow with ANKERHART signature product line
Mining and raw materials Breitenau: Recycling Mining and raw materials Cash cow with our ANKERHART signature Business model & Refractory product line instrumental for Green Steel machinery making Role of the plant - Breitenau Electric arc furnace focussed portfolio Unique alpine magnesite source wit
Slide 30: Breitenau: Reserves for generations
Mining and raw materials Breitenau: Recycling Mining and raw materials Reserves for generations Business model & Refractory machinery making “ Alpine Magnesite one of the RHIM signature “ products with very Underground mine plan Zoom in high RoIC Production volume ~130,000t Sales Volume €70-80m Open
Slide 31: Breitenau: It is getting hot now
Mining and raw materials Breitenau: It is getting hot now Burning magnesite (mineral) above 1800 °C results in a dense ceramic with a melting point >2000 °C making refractory materials possible ▪ Fuel : addition of sunflower husks to lower CO 2 emissions and costs ▪ Products : add animal feed produc
Slide 32: Willingshofer Machinery champion
Willingshofer Machinery champion
Slide 33: RHIM Advanced Technologies in heavy industry
RHIM Advanced Technologies in heavy industry Recycling Mining and raw materials Automation & Robotics as a structural trend Business model & Refractory across heavy industry machinery making Refractories Focus Advanced Technologies Original Equipment Manufacturer (OEM) now Systems Machinery ▪ Positi
Slide 34: A continuously expanding Portfolio
A continuously expanding Portfolio Recycling Mining and raw materials How Advanced Technologies enable 4PRO Business model & Refractory machinery making ! ! Contribution of Advanced Technologies ! ! We have built a strong ! ! Advanced Technologies portfolio, spanning machines, automation, ! ! digita
Slide 35: A holistic and integrated offering drives market differentiation
A holistic and integrated offering Recycling Mining and raw materials Drives RHIM’s market differentiation Business model & Refractory machinery making Example: Electric Arc Furnace (EAF) Adding products, services, and solutions beyond refractories can generate: • Greater customer intimacy • Deeper
Slide 36: Video
Video Recycling Mining and raw materials Business model & Refractory machinery making
Slide 37: MIRECO Mitterdorf
MIRECO Mitterdorf
Slide 38: A typical sight at customers. What do you see?
A typical sight at customers. What do you see? Recycling Mining and raw materials Business model & Refractory machinery making
Slide 39: What we see: the recycling business case in a nutshell
What we see: the recycling business case in a nutshell If we can transform it into raw If the customer has to landfill materials for refractory and everything: metallurgical applications: -100 €/t +250 €/t avg
Slide 40: Refractory recycling basics: Win–win-win business set up
Refractory recycling basics Recycling Mining and raw materials Win–win-win business set up Business model & Refractory machinery making Customer saves Customers WIN ~100 €/t landfill costs Use of circular raw material % of total raw material used 18.5% 15.9% 14.2% 12.6% 10.5% 6.8% 4.2% 5.0% 3.5% 201
Slide 41: Recycling Mitterdorf: closing the loop
Recycling Mitterdorf: closing the loop Recycling Mining and raw materials Part of a global recycling network with Business model & Refractory key technology machinery making “ Decarbonisation via “ recycling is a profitable growth business Equates to: 100kt = 4,000 truck loads Our global recycling f
Slide 42: Recycling Mitterdorf: RAPTOR process overview
Recycling Mitterdorf: RAPTOR Recycling Mining and raw materials Process overview Business model & Refractory machinery making
Slide 43: De-brief and Q&A in Vienna
De-brief and Q&A in Vienna
Slide 44: De-brief and Q&A: Capturing value in every step in the chain
De-brief and Q&A Capturing value in every step in the chain Mitterdorf Breitenau 1 We add value in every step in the value chain ▪ From mining, to refractory, to machinery and services, concluded with recycling Mining and 2 4PRO offering needs comprehensive Recycling raw capabilities R&D, materials
Slide 45: Thank you for joining us
Thank you for joining us Huge thanks to all plants to have us and Vienna office team RHI Magnesita Investor Relations Alexander Ordosch (Alexander.Ordosch@rhimagnesita.com) Biko Hüster (Biko.Huester@rhimagnesita.com) RHI Magnesita Corporate Communications and media inquiries Sofia Iriarte (Sofia.Iri