Usinas Siderurgicas De Minas Gerais Sa-usiminas · BMFBOVESPA:USIM3
Usinas Siderurgicas De Minas Gerais Sa-usiminas — Usinas Siderúrgicas de Minas Gerais — Q3 2025 Earnings Presentation
38 slides from Usinas Siderurgicas De Minas Gerais Sa-usiminas's earnings presentation, Oct 24, 2025
Slide 1: Results 3Q25
3Q25 Results Results 3Q25 Webcast Institutional Presentation April 23, 2024 1 Classificação da informação: Não Confidencial
Slide 2: Summary
3Q25 Results SUMMARY WEBCAST....................................................03 INSTITUTIONAL PRESENTATION...............13 April 23, 2024 2 Classificação da informação: Não Confidencial
Slide 3: Results 3Q25
Results 3Q25 Results 3Q25 Octuber 24, 2025 → 3
Slide 4: Highlights of the quarter
Results 3Q25 3Q25 Highlights of the quarter Steel sales Iron Ore Sales Consolidated Adjusted EBITDA 1.1 Mt 2.5 kt 434 M +2% vs 2Q25 +2% vs 2Q25 +6% vs 2Q25 Free Cash Flow Net Debt Levarage 613 M 327 M 0.16 x +118% vs 2Q25 -69% vs 2Q25 -0.35x vs 2Q25 Octuber 24, 2025 → 4
Slide 5: Consolidated
3Q25 Consolidated NET REVENUE ADJUSTED EBITDA NET INCOME R$ million R$ million R$ million 185 128 121 20,088 8% 19,390 6% 6% 6% 7% 6,817 1,575 6,626 6,604 1,089 426 408 434 (3,039) (3,503) 3Q24 2Q25 3Q25* 9M24 9M25* 3Q24 2Q25 3Q25 9M24 9M25 9M24 9M25 3Q24 2Q25 3Q25 * In 3Q25, an impairment of fixed
Slide 6: Steel
3Q25 Steel STEEL SALES NET REVENUE ADJUSTED EBITDA (Kt) R$ million per ton (R$/t) R$ million ∆2Q25: 7% ∆Domestic 2Q25 (R$/t): -3% 6% 3,205 3,276 5,525 5,414 ∆Domestic 2Q25: 2% 4% 241 310 Exports 5,502 5,432 6% 5,240 17,707 17,735 5% 5% 1,123 1,126 1,079 1,104 1,400 1,661 56 112 6,195 106 5,862 5,784
Slide 7: Steel EBITDA Variation
3Q25 Steel EBITDA Variation R$ million 9 308 54 287 164 7 (212) 2Q25 Price/Mix Volume COGS Other incomes and Others 3Q25 expenses* * Excluding the effect of impairment in the amount of R$2.2 billion October 24, 2025 → 7
Slide 8: Mining
3Q25 Mining IRON ORE SALES NET REVENUE ADJUSTED EBITDA (Kt) R$ million per ton (US$/t) R$ million and per ton (US$/t) ∆2Q25: 13% ∆2Q25: 11% ∆2Q25: 2% 7,179 16% $79 $76 14% 13% 6,266 13% $71 $69 2,503 $66 6% 2,458 11 2,288 5,345 4,206 10 9 1,846 1,846 Exports 1,653 8 451 910 950 2,778 495 767 2,193 1
Slide 9: Financial indicators 3Q25
Results 3Q25 Financial indicators 3Q25 Octuber 24, 2025 → 9
Slide 10: Consolidated
3Q25 Consolidated Working Capital Variation and CAPEX FREE CASH FLOW** Operating Cash Flow* R$ million R$ million R$ million 1,062 818 613 878 868 88 701 334 86 40 266 615 586 19 518 202 316 454 281 245 28 730 191 262 615 294 167 247 147 174 3Q24 2Q25 3Q25 9M24 9M25 3Q24 2Q25 3Q25 9M24 9M25 3Q24 2Q2
Slide 11: Consolidated
3Q25 Consolidated CASH, GROSS DEBT, NET DEBT AND LEVERAGE AMORTIZATION PROFILE OF GROSS DEBT- PRINCIPAL ONLY R$ billion R$ million Net Debt/EBITDA 0.38x 0.58x 0.71x 0.50x 0.16x Gross Debt (principal only) Debt Duration: R$: 41 months US$: 62 months 6,036 6.9 7.9 7.8 6.5 6.4 2,865 0.9 1.4 1.0 0.6 0.3
Slide 12: 3Q25 Institutional Presentation
3Q25 Institutional Presentation Classificação da informação: Não Confidencial
Slide 13: Usiminas Culture of social, environmental and employee responsibility
1 Usiminas 2 Culture of social, environmental and employee responsibility 3 Governance and Highlights Classificação da informação: Não Confidencial
Slide 14: Usiminas at a Glance
Usiminas at a Glance COMPANY OVERVIEW GEOGRAPHIC FOOTPRINT ✓ One of Brazil’s leading producers of flat-rolled steel, operating across multiple segments of the value chain, including mining and logistics, steelmaking, and steel processing; ✓ Two steel mills strategically located on Brazil's main indu
Slide 15: Complete Solutions in Products and Services
Complete Solutions in Products and Services Mining Steel Unit Ipatinga | Cubatão | Unigal | Mineração Usiminas Soluções Usiminas | Usiminas Mecânica o Soluções Usiminas was incorporated into the Steel unit as of 4Q23. Established in 2009, it offers a broad portfolio of flat steel processing and dist
Slide 16: Usiminas Steel Operation
Usiminas Steel Operation COMPANY OVERVIEW OVERVIEW OF STEEL OPERATION ✓ One of the largest producers of flat rolled steel in Brazil ✓ Two industrial plants in Ipatinga (MG) and Cubatão (SP) ✓ Owns 70% of Unigal Usiminas, a JV with Nippon Steel engaged in steel hot-dip galvanizing, ROLLING enhancing
Slide 17: Siderurgia Steel
Siderurgia Steel Steel Sales (thousand ton) Net Revenue (R$ thousand) 1,126 1,057 1,093 1,079 1,104 6,196 6,089 5,840 5,862 5,784 56 96 92 106 112 343 520 539 570 552 1,070 961 1,002 973 991 5,853 5,320 5,550 5,291 5,232 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25 2Q25 3Q25 Domestic Market Exports Domes
Slide 18: Diversification of products and markets
Diversification of products and markets 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 SALES BY SEGMENT (3Q25 - DOMESTIC MARKET, STEEL) EXPORT SALES VOLUME BY COUNTRY (3Q2
Slide 19: Main investments in progress - Steel
Main investments in progress - Steel Coke plant #2 renovation New BF#3 PCI Plant New Gasometer Coke Plant Battery #4 Pad-up ❖ ❖ ❖ ❖ ❖ ❖ Classificação da informação: Não Confidencial
Slide 20: Steelmaking
Steelmaking Steel The total crude steel production capacity is 5 million tonnes, located in Ipatinga. The current capacity for finished products considers the maximum output of galvanizing lines (electrogalvanizing and hot-dip galvanizing) and heavy plate production. Galvanized Heavy Plates Hot Roll
Slide 21: Usiminas Iron Ore Operation (MUSA)
Usiminas Iron Ore Operation (“MUSA”) COMPANY OVERVIEW ✓ Mineração Usiminas, a joint-venture between Usiminas (70%) and Sumitomo LOGISTICS OVERVIEW Corporation (30%) ✓ Open pit iron ore mining company operating in the Serra Azul region ✓ Strategically located in the Iron Ore ✓ Corrently producing aro
Slide 22: Siderurgia Mineração Usiminas
Siderurgia Mineração Usiminas Iron Ore Sales (thousand ton) Net Revenue (R$ thousand) & Net Revenue for Exports (US$/t) 2,458 2,503 $78 $79 2,288 2,202 2,218 $68 $71 $66 1,653 1,846 1,846 1,551 1,652 917 910 950 128 174 139 134 170 767 767 507 477 426 478 486 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25
Slide 23: Mineração Dry Stacking
ITM CENTRAL Mineração Dry Stacking ITM FLOTAÇÃO Dewatering and dry tailings disposal solution as a Dewatered Tailings Stack ITM OESTE replacement for the conventional dam-based method. ITM SAMAMBAIA Watch how Usiminas’ Dry Stacking process works. Inauguration: December 2021 Dewatered Tailings Stack
Slide 24: Main investments in progress - Mining
Main investments in progress - Mining Decharacterization of the Samambaia Dam 2025 ❖ ❖ ❖ ak ❖ ❖ Classificação da informação: Não Confidencial
Slide 25: Main consolidated figures (1/2)
Main consolidated figures (1/2) NET REVENUE (R$ MILLION) 6,817 6,480 6,858 6,626 6,604 949 1,139 1,289 1,316 1,351 5,869 5,341 5,569 5,310 5,253 3Q24 4Q24 1Q25 2Q25 3Q25 Domestic Market Exports EBITDA (R$ MILLION) AND EBITDA MARGIN (%) 11% 8% 6% 6% 7% 733 518 434 408 426 3Q24 4Q24 1Q25 2Q25 3Q25 Adj
Slide 26: Main consolidated figures (2/2)
Main consolidated figures (2/2) CAPEX (R$ million) 382 334 163 40 266 202 219 19 28 29 294 247 174 219 189 3Q24 4Q24 1Q25 2Q25 3Q25 WORKING CAPITAL (R$ million) Steel Mining 6,704 6,846 7,624 7,170 6,584 3Q24 4Q24 1Q25 2Q25 3Q25 Classificação da informação: Não Confidencial
Slide 27: Solid financial discipline
Solid financial discipline CASH, GROSS DEBT, NET DEBT AND LEVERAGE (R$ MILLION) GROSS DEBT AMORTIZATION PROFILE - PRINCIPAL ONLY (R$ MILLION) 0.38x 0.58x 0.71x 0.50x 6,036 Debt Duration: R$: 41 months 0.16x US$: 62 months 6.9 7.9 7.8 2,865 6.5 6.4 2,731 0.6 0.9 1.4 1.0 2,168 0.3 5.9 6.0 6.6 6.7 6.0
Slide 28: Usiminas Culture of social, environmental and employee responsibility
1 Usiminas 2 Culture of social, environmental and employee responsibility 3 Governance and Highlights Classificação da informação: Não Confidencial
Slide 29: Usiminas Management Pillars
Usiminas Management Pillars Highlights Program for the Recovery and The quadrivalent vaccine 216,000 hours of Márcio Cunha Hospital VOU – Usiminas Volunteers Preservation of Green Areas available free of charge for training in safety recognized by Newsweek + More than 14,000 people benefited, 11,800
Slide 30: Usiminas Management Pillars
Usiminas Management Pillars Fauna Conservation Monitoring Program Aims to identify the presence of endangered species, propose conservation measures, and analyze habitats. 4 Since 200 Seedlings Species 2021 donated to identified as Monitoring municipalities endangered and Conserving Fauna Classifica
Slide 31: Usiminas Management Pillars
Usiminas Management Pillars “Mobiliza Caminhos do Vale” Project Socio-environmental projects as counterpart in Marliéria Socio-environmental considerations in Paraíso and Iapú Increase in tourism and handicraft, and helping Construction of the free flight ramp in the community of the local products
Slide 32: Usiminas Management Pillars
Usiminas Management Pillars Education and Culture São Francisco Xavier School Usiminas Institute First educational institution in Brazil to obtain Usiminas invested over R$260 million, encouraging around 2,000 ISO 9001 social projects since 1993 Projects and Programs Xerimbabo Usiminas Project “Plan
Slide 33: Usiminas Management Pillars
Usiminas Management Pillars São Francisco Xavier Foundation Márcio Cunha Hospital – Unit I Márcio Cunha Hospital – Unit II Reference center in the area of health in Brazil Internação, Atendimento Ambulatorial, Centro de Diagnóstico por Imagem e Usifamília Carlos Chagas Municipal Hospital Reference f
Slide 34: Culture of Social, Environmental, and Employee Responsibility
Culture of Social, Environmental, and Employee Responsibility Employees Social Ambiental Investments in training and The company’s sponsorship We believe that innovation and safety reflect our continuous policy, planned and executed sustainability are essential to commitment to the growth, by the In
Slide 35: Usiminas Culture of social, environmental and employee responsibility
1 Usiminas 2 Culture of social, environmental and employee responsibility 3 Governance and Highlights Classificação da informação: Não Confidencial
Slide 36: Shareholders and Management
Shareholders and Management Usiminas' corporate governance model meets government and market requirements for publicly traded companies, preserving and encouraging transparency Total Shares Shares with voting rights (ON) 56% Preferred shares (PN) 44% Board of Directors 1,253,079,108 Control Group: A
Slide 37: Corporate Governance
Governança Corporativa (Continuação) Corporate Governance Policies in place that guarantee investor security, transparency of actions, management control and clear communication Integrity Program Other policies to support governance Corporate Governance P Code of Ethics and Conduct P Profit Allocati
Slide 38: Classificação da informação: Não Confidencial
Classificação da informação: Não Confidencial
Usinas Siderúrgicas de Minas Gerais — Q3 2025 Earnings Presentation on 6ix