Slide 1: Q2 2025 Results Presentation
Q2 2025 Results Presentation July 24, 2025 1
Slide 2: Disclaimer
Q2 2025 RESULTS PRESENTATION 2 Disclaimer This document has been drawn up in good faith on the basis of the data and facts available on the day of its publication and should be read together with all the public information provided and/or published by ACERINOX, S.A. This document may contain forward
Slide 3: Q2 2025 at a glance
Q2 2025 RESULTS PRESENTATION Q2 2025 at a glance Q2 results showed an improvement compared to Q1 in weak market conditions EBITDA of €112 million in Q2 and €214 million in H1 despite a challenging situation: geopolitical conflicts and tariff wars, import pressure in Europe and USD depreciation Positi
Slide 4: Q2 & H1 2025: More than resilient
Q2 2025 RESULTS PRESENTATION Q2 & H1 2025: More than resilient FINANCIAL & OPERATING STRATEGY ESG NET SALES Organic Growth Launched our ESG solution: Q2: €1,507 million Investment in NAS, VDM EcoACX® H1: €3,058 million and Haynes EBITDA Q2: €112 million Added Value Recognition by EcoVadis: H1: €214
Slide 5: 2025 Market highlights
Q2 2025 RESULTS PRESENTATION 2025 Market highlights Stainless Steel High-performance Alloys USA ● Jun.25 ISM manufacturing PMI: 49.0 ● HPA market driven by a slow demand during Q2 2025 ● Apparent demand remained stable at low levels ● Oil and gas (O&G) and Chemical Process Industry (CPI) remained we
Slide 6: Q2 & H1 2025 Consolidated group highlights
Q2 2025 RESULTS PRESENTATION Q2 & H1 2025 Consolidated group highlights Q2 EBITDA: Q2 Q2 Q1 H1 H1 ❏ 10% higher than Q1 Million EUR 2025 2024 2025 2025 2024 ❏ Impacted by USD Melting production depreciation: €-10 million (thousands of metric tons) 500 405 512 1,012 866 ❏ Inventory adjustment: Net sal
Slide 7: Q2 & H1 2025 Stainless steel highlights
Q2 2025 RESULTS PRESENTATION Q2 & H1 2025 Stainless steel highlights Solid NAS contribution in the midst Q2 Q2 Q1 H1 H1 Million EUR 2025 2024 2025 2025 2024 of many uncertainties Melting production 480 384 488 968 824 (thousands of metric tons) Q2 affected by Net sales 1,080 993 1,097 2,177 2,102 im
Slide 8: Q2 & H1 2025 High-performance-alloys highlights
Q2 2025 RESULTS PRESENTATION Q2 & H1 2025 High-performance-alloys highlights Softer Q2 due to lower volumes: slowdown in Oil & Gas Q2 Q2 Q1 H1 H1 Million EUR 2025 2024 2025 2025 2024 and CPI in Europe Melting production 21 20 24 45 42 (thousands of metric tons) Net sales impacted Net sales 433 311 4
Slide 9: Capital allocation
Q2 2025 RESULTS PRESENTATION Capital allocation USD depreciation: - Benefits working capital - NAS deposits: negative translations differences in euros Q2 Million EUR Q2 2025 Highlights Important expansion phase: CAPEX of €68 million (€41 million in Q2 24) Bahru sale effect in cash: €68 million in Q2
Slide 10: Sustainable business model
Q2 2025 RESULTS PRESENTATION Sustainable business model SUSTAINABILITY TARGETS 2030 Engaged team, culture, diversity, and safety Eco-efficiency and climate change mitigation* • Safety:8% improvement LTIFR from FY 2024 • GHG emissions (Scope 1&2): 25% intensity reduction from FY 2021 [target: 10% YoY
Slide 11: Beyond Excellence
Q2 2025 RESULTS PRESENTATION Beyond Excellence 2024-2026: EBITDA savings of €100 million 2025 in figures €23 million Creating value achieved in H1 in all areas of the company Target for 2025: 50% consecution of Efficiency: R&D - Added Value: €45 million 2025 target €6 million €3 million Productivity:
Slide 12: Control the Controllables
Q2 2025 RESULTS PRESENTATION Control the Controllables … while focusing on our clear strategy Navigating macro and trade policy uncertainties… Investments to Investments to increase production increase production capacity by 20% capacity by 15% New business model Diversification for Acerinox Europa a
Slide 13: Conclusions & outlook
Q2 2025 RESULTS PRESENTATION Conclusions & outlook Uncertainties persist and lead to low visibility 01 02 03 Delivering our strategy Expansion in stainless in the U.S. Financial strength that enables in a very challenging year, and HPA worldwide continues growth and maintaining marked by global unce
Slide 14: Events post Q2 & H1 2025 Results
Q2 2025 RESULTS PRESENTATION Events post Q2 & H1 2025 Results EVENT ORGANIZATION 28 JUL. MADRID ROADSHOW 29-30 JUL. LONDON ROADSHOW 3 SEP. INDUSTRIAL CONFERENCE - NY 4 SEP. NY ROADSHOW 10 SEP. AUTUMN CONFERENCE - PARIS 18 SEP. XXII IBERIAN CONFERENCE - MADRID 7 OCT. CONFERENCE - PARIS 14
Slide 15: Q&A
Q2 2025 Q&A July 24, 2025 15