Acerinox Sa · BME:ACX
Acerinox Sa — Shareholder Meeting (2026)
13 slides from Acerinox Sa's shareholder meeting presentation, 2026
Slide 1: Report of the Chief Executive Officer
FISCAL YEAR 2025 Report of the Chief Executive Officer Bernardo Velázquez Herreros 2026 General Shareholders’ Meeting
Slide 2: Uncertainty due to conflicts and tariffs
Uncertainty due to conflicts and tariffs Geopolitical Trade conflicts tensions Critical instability in key New U.S. tariffs (April regions: 2025) and tariff proliferation, keeping markets in a phase of Ukraine and Gaza continuous negotiation and lacking stability Venezuela and Iran Volatility preven
Slide 3: Flat consumption and supply chain review
Flat consumption and supply chain review APPARENT CONSUMPTION Fragility of globalization Third consecutive year Dependence on supplies 20,000 km away below pre-pandemic exposes companies to uncontrollable risks. levels (2019) Diversionary routes through southern Africa highlight the need to rethink
Slide 4: Measures in the U.S. and Europe
Measures in the U.S. and Europe U.S. Europe Doubling of tariffs to Implementation of the 50% and elimination of Steel and Metals Action exceptions for partner Plan with 50% tariffs on countries. The surpluses. From 2026, the measures are extended Carbon Border ‘downstream’ to Adjustment Mechanism pr
Slide 5: Melting shop production by market
Melting shop production by market CONSUMPTION Europe U.S. They are taking a wait-and-see approach, buying Pressure from imports Maintaining stable prices (+25%) and ineffective thanks to efficient tariffs, only the strictly necessary amounts safeguard measures. Prices ensuring operational at minimum
Slide 6: 2025 Results
2025 Results Adjusted SALES EBITDA WORKING NET FINANCIAL CAPITAL DEBT €5.781 €422 €406 €1.189 BILLION MILLION BILLION MILLION +7% VS 2024 +6% after Haynes -5% VS 2024 PERFORMANCE BY DIVISION (ADJUSTED EBITDA) INVESTMENT OPERATING PLAN CASH FLOW €455 STAINLESS HIGH- STEEL €276 PERFORMANCE ALLOYS €311
Slide 7: ACERINOX EUROPA: Recovery of activity
ACERINOX EUROPA: Recovery of activity End of the 5-month strike in 2024 Gradual recovery of customer confidence Flexibility to melt in periods of lower cost electricity thanks to the new agreement Post-fire recovery: pickling line operational from April 2026 after the incident at the end of 2025 /7
Slide 8: Strategic plan
Strategic plan Acerinox is defined by its strategy and long-term focus EXCELLENCE VALUE-ADDED Driver to boost the High value-added Group’s solutions and HPA competitiveness FINANCIAL STRENGTH SUSTAINABILITY Responsible and Core of the business transparent capital model and value-added allocation thr
Slide 9: Investments
Investments Organic growth strategy NAS VDM Haynes €249 €67 €154 MILLION MILLION MILLION +20% capacity +15% capacity +20% capacity MODERNIZATION AND EFFICIENCY COLUMBUS ACERINOX EUROPA TARGET €13 €22 Potential MILLION MILLION EBITDA growth of €300 million /9
Slide 10: Beyond Excellence
Beyond Excellence Excellence in our operations A program to increase competitiveness through projects for ongoing improvement At the end of the second year, program execution consolidated a cumulative total of €83 million The plan’s recurring savings target has been increased from €100 to €120 milli
Slide 11: Sustainability and EcoACX
Sustainability and EcoACX ® We are committed to pragmatic sustainability PRAGMATIC FOCUS Linked to process efficiency and the use of recycled materials, with investments that provide a reasonable ›90% ‹50% 100% return and with the aspiration of valorizing all RECYCLED MATERIAL -50% CO₂ CARBON FOOTPR
Slide 12: Social and human commitment
Social and human commitment Results and sustainable growth 2025 47% -15% 901 YOUNG TALENT HIRES RATE OF 172 ACCIDENTS (Target zero) WOMEN TALENT AND DIVERSITY • 314 direct hires in Spain. • Strategic alliances with Universities and Vocational SERES FOUNDATION Training centers. • Promotion of women i
Slide 13: Thank you very much!
Thank you very much! SHAREHOLDERS CUSTOMERS AND SUPPLIERS Thank you for your continued support of We appreciate the Acerinox. We will continued trust of not disappoint you. our customers and strategic suppliers. At Acerinox, we reaffirm our commitment to continue leading the industry with ACERINOX T