Acerinox Sa · BME:ACX
Acerinox Sa — Shareholder Meeting (2026)
13 slides from Acerinox Sa's shareholder meeting presentation, 2026
Slide 1: Chairman's Report
FISCAL YEAR 2025 Chairman’s Report Carlos Ortega Arias-Paz 2026 General Shareholders’ Meeting
Slide 2: Strength of the business model and adaptability
A YEAR OF RESISTANCE Strength of the business model and adaptability / 02 43
Slide 3: Geopolitical challenges
Geopolitical challenges A 2025 marked by geopolitical uncertainty Regionalization of trade Strategic autonomy Regulatory sensitivity Global Impact The tensions in these regions IN THIS NEW GLOBAL marked a year of extreme global FRAMEWORK complexity, negatively impacting The stainless steel and world
Slide 4: Geopolitical challenges: anticipation and strategic vision
Geopolitical challenges Acerinox: anticipation and strategic vision OUR STRATEGY Geographic diversification Financial discipline Acerinox is well-positioned to weather economic cycles more Diversification towards high- effectively and turn structural performance alloys (HPA) changes in the business
Slide 5: Industry leadership: solid base in the United States
Industry leadership Solid base in the United States UNITED STATES Main driver of growth and value creation for our Group Dynamic economy Solid industrial base In favor of local production NORTH AMERICAN STAINLESS (NAS) Committing to U.S. production through NAS gives us a competitive advantage positi
Slide 6: Industry leadership: first full year of Haynes International
Industry leadership First full year of Haynes International Leadership Presence in high- in strategic performance sectors alloys (HPA) Aerospace, Decisive Energy and reinforcement Advanced Chemicals Beyond operational synergies. INDUSTRY BENCHMARK IN NORTH AMERICA Thanks to the combination of This o
Slide 7: Europe: balanced industrial framework
Europe: balanced industrial framework Positive signs and regulatory progress JANUARY CBAM implementation Entry into force of the Carbon Border Adjustment Mechanism (CBAM) Trade defense measures JULY 50% TARIFF Limiting current imports to half and imposing 50% tariffs for surplus SOLID INDUSTRIAL MOD
Slide 8: Financial performance 2025
Financial performance 2025 Our business model is able to defend profitability at critical times ADJUSTED CASH REVENUE EBITDA MANAGEMENT €5,781 €422 €406 MILLION MILLION MILLION +7% VS 2024 In a complex Reduction of working environment capital / 08
Slide 9: Stock market performance and market confidence
Stock market performance and market confidence 2025: gradual recovery backed by undisputed competitive advantages and improved regulation Progressive recovery (2025) +34% 78% Consolidation €12.66 per share Annual revaluation 2025 Buy recommendations POSITIVE TREND CONTINUES IN 2026 Critical pillars
Slide 10: Corporate governance
Corporate governance Progress during 2025 and early 2026 INTERNAL REGULATIONS 2025 Amendment to the Articles of Association, the Regulations of the General Shareholders’ Meeting, and the Regulations of the Board STRUCTURE OF THE TECHNICAL DIVERSITY BOARD ORGANIZATION New organization of Balanced – a
Slide 11: Sustainability as a strategic axis
Sustainability as a strategic axis Focus on sustainability and value creation Awards 2025 Roadmap Stainless Steel Industry Awards Integrating ESG criteria in Gold medal. Innovation and Market the compensation of our management team 3 silver medals. Technology and Sustainability Industrial model base
Slide 12: Shareholder remuneration
Shareholder remuneration A constant and unwavering priority €155 million €0.62 per share REFLECTION OF OUR FINANCIAL STRENGTH Our dividend has remained stable / 12 23
Slide 13: Acerinox, looking ahead with confidence
Looking ahead with confidence Single industrial platform Leadership in the United States Acerinox, Worldwide leadership in high-performance alloys stronger, more diversified and better More favorable regulatory prospects in Europe prepared Decisive focus on high value-added products Thank you very m