Elvalhalcor Hellenic Copper And Aluminium Industry S.a. · ATHEX:ELHA
Elvalhalcor Hellenic Copper And Aluminium Industry — ElvalHalcor — Investor Presentation (April 2026)
62 slides from Elvalhalcor Hellenic Copper And Aluminium Industry's investor presentation, Apr 1, 2026
Slide 1: Corporate Presentation 2026: Beyond Metals, Shaping Tomorrow
CORPORATE PRESENTATION 2026 BEYOND METALS SHAPING TOMORROW 01.04.2026
Slide 2: Table of Contents
TABLE OF CONTENTS 01 We are ElvalHalcor 02 Sustainability 03 Aluminium segment 04 Copper segment 05 Our performance Corporate Presentation 2026 2
Slide 3: Viohalco at a Glance
A Euronext-listed holding company VIOHALCO of leading metal processing companies AT A GLANCE across Europe. Viohalco companies specialize in the manufacture of aluminium, copper, steel, steel pipes and cables products. Viohalco’s portfolio also includes a dedicated R&D and technology segment, and a
Slide 4: Viohalco Structure
VIOHALCO STRUCTURE Aluminium Copper & Copper alloys Cables Steel pipes Flat products - Rolling Extrusion Rolling & Extrusion Energy transmission cables Steel pipes for energy and and turnkey solutions construction sectors Plain & converted Coated products & foil products composite panels Coin blanks
Slide 5: We are ElvalHalcor
01. We are ElvalHalcor
Slide 6: ElvalHalcor at a Glance
ELVALHALCOR AT A GLANCE ElvalHalcor was No.2 aluminium formed in Νο.1 copper tubes rolling plant*** December 2017 via More than 85 producer in Europe the merger of Elval years of in EMEA* (in hot rolling and Halcor experience (by volume)** capacity) Strong export Powered by a ElvalHalcor’s Listed on
Slide 7: Corporate Structure Overview
CORPORATE STRUCTURE OVERVIEW Other Participations 31.12.2025 93% 28% Other Shareholders 26.8% 73.2% Aluminium Segment Copper Segment 100% 100% 50% 89% 100% 100% 50% 93% 75% 49% 50% 50% NedZink Holdings UACJ Elval Heat Exchanger Materials GmbH, HC Isitma, NedZink and Halcor-NTT are JVs Corporate Pres
Slide 8: International Focus
Highly extrovert business model with solid presence in more than INTERNATIONAL 90 countries around the globe and revenues FOCUS generated abroad representing over 95%. Production Group facilities turnover (FY’25) The Netherlands 5% Greece 66% Other EU Other Europe 15% (non EU) Bulgaria 10% America 3
Slide 9: Our Key Numbers
OUR KEY NUMBERS A Greek-based leading global player in the non- ferrous metals industry. 2025 €3.6bn €3.4bn €236m >€1bn revenue total exports a-EBITDA investments during the last 10 years 428 172 sales in more than 15 thousand tons volume of sales - thousand tons volume of sales - 90 countries state
Slide 10: Pass-Through Business Model
Focus on maximizing Net Added Value, PASS-THROUGH with limited exposure to commodity BUSINESS MODEL price volatility. Raw Material Costs Sales Price ElvalHalcor purchases primary copper and aluminium, EH Added Value Net Added (Fabrication and scrap and alloying metals to remelt the materials and cre
Slide 11: Sustainability: Shaping Tomorrow
02. Sustainability Shaping tomorrow
Slide 12: Sustainability Strategy
Committed to SUSTAINABILITY sustainable STRATEGY growth. A comprehensive strategy with the aim of the integrated management of all environmental, social and governance risks. STRATEGIC PILLARS Energy transition Carbon footprint Health and Safety Supply chain Progressive transition to the use of RES
Slide 13: Environment Social Governance
Risks mitigation is a ENVIRONMENT SOCIAL priority for the Company’s GOVERNANCE responsible operation. Environment Social • Applying circular economy • Prioritise on the health and safety of our principles in all aspects of people production • Support local communities • Continuous improvement of our
Slide 14: Sustainable Operation
Track record highlighting SUSTAINABLE actions for continuous improvement in OPERATION material issues. Aluminium and State of the art industrial Online monitoring Copper recycling wastewater and control for low carbon products treatment for the of environmental parameters Oinofyta plants Recovery of
Slide 15: Empowering Our People
Our people EMPOWERING are the key OUR PEOPLE to our success. Our people and partners’ We empower our people by A rewarding work Continuous, ongoing health and safety is our improving leadership skills, environment based on equal training and employee primary concern developing and promoting talent o
Slide 16: A Powerful Sector of the Greek Economy
Our financial and social footprint in Greece is A POWERFUL SECTOR significant according to an impact study conducted OF THE GREEK ECONOMY by IOBE (2025 data). €2.4bn €1.3bn 8.0% 53.3% production value annual total impact of the country’s total exports of in 2025 of ElvalHalcor’s activity total indus
Slide 17: R&D ElvalHalcor
R&D ElvalHalcor invests continuously in R&D of processes, products, and materials while ElvalHalcor promoting innovation. In-house R&D Technology Centres Customised alloys that Optimised Tailor-made, meet customers’ technical production end-product challenges processes solutions Collaborations with
Slide 18: R&D & Technology
R&D & TECHNOLOGY ELKEME focuses on industrial research to develop efficient technologies, cutting-edge products, integrated solutions and provides full technical consultancy and scientific support. ELKEME maintains strong connections to and cooperation with national and international academia. Produ
Slide 19: Megatrends
Enabling the transition Megatrends to climate neutrality.
Slide 20: Megatrends Enablers
Enabling the MEGATRENDS transition ENABLERS to climate neutrality. Circular economy Transition to net zero • Low carbon and recyclable products • Electrification • Solutions with increased • Power storage recycled content • E-mobility • Sustainable packaging • RES growth • Plastic replacement Urbani
Slide 21: Products Megatrends
PRODUCTS MEGATRENDS Aluminium segment’s products & solutions • Sheets and coils for beverage cans, food • Sheets and plates for defense applications • Tread plates and wide sheets for windmill platforms and containers, closure caps • Sheets and coils for data centres nacelles • Foil for food pouches
Slide 22: Aluminium: The Metal of the Future
Plays a key role in ALUMINIUM: sustainability THE METAL OF THE FUTURE and circular economy. Integral part of industrial sectors Endless applications in our everyday life due to superior properties of durability formability, lightweight, design and corrosion resistance Infinitely recyclable Can be re
Slide 23: Copper: For a Sustainable World
Plays a key role COPPER: in sustainability FOR A SUSTAINABLE WORLD and circular economy. In many modern applications Durable, malleable, with high thermal and electrical conductivity 100% Recyclable Copper can be recycled infinitely without losing its properties or performance Antimicrobial properti
Slide 24: Overview of Growth Drivers
Global effort for reduction of plastic pollution is leading to OVERVIEW increased demand for fully recyclable materials like OF GROWTH DRIVERS aluminium and copper. To address our climate and Aluminium and Copper are 100% recyclable without loss of energy challenges, we need to move towards a greene
Slide 25: Overview of Growth Drivers: Aluminium Recycling
OVERVIEW Global effort for reduction of plastic pollution leads to increased demand for fully recyclable OF GROWTH DRIVERS materials like aluminium. The aluminium can is the most recycled beverage container by consumers. The closed loop nature of aluminium can recycling, and the metal’s inherent hig
Slide 26: Growth Drivers: Aluminium E-Mobility
Aluminium demand will be substantially GROWTH DRIVERS impacted by the growing market for electric vehicles ALUMINIUM E-MOBILITY (EVs) over the next decade. With the EU’s ambitious target of a 55% reduction in CO² emissions for Average aluminium content per vehicle (net weight) for passenger cars by
Slide 27: Aluminium Segment
03. Aluminium segment Shaping tomorrow
Slide 28: Aluminium Segment
ALUMINIUM SEGMENT State of the art 95% of turnover in sales production facilities abroad in 90 countries €822mil. Invested in equipment 7 plants in Greece for capacity expansion and quality improvement during the last 10 years Corporate Presentation 2026 28
Slide 29: Revenue of Core Products by Market & Geography – Aluminium
REVENUE OF CORE PRODUCTS BY MARKET & GEOGRAPHICAL SEGMENT – ALUMINIUM SEGMENT Revenue Breakdown (FY 2025) By Market (% of tons) By Geographical Segment (% of €) Energy & Power Networks 1% Other Europe HVAC&R Industrial Applications 15% 4% America 2% 12% EU (excl. Greece) Other Industrial Markets 64%
Slide 30: Main Production Facilities
MAIN PRODUCTION FACILITIES Flat products-Rolling | Oinofyta, Greece Flat rolled aluminium products and solutions for the packaging, building and construction, automotive, sea, road and rail transportation, defence, energy, HVAC&R and industrial markets. Capacity 450,000 tons/year Corporate Presentat
Slide 31: Main Production Facilities
MAIN PRODUCTION FACILITIES Aluminium Foil Rolling | Oinofyta, Greece Aluminium foil converting and lacquer production | Mandra, Greece Foil for: • Conversion of aluminium foil into packaging applications • Flexible packaging (food & pharma) • Aluminium foil coating and/or paper lamination for produc
Slide 32: Main Production Facilities
MAIN PRODUCTION FACILITIES Aluminium composite panels & coated products Rolling Shutters | Nea Artaki, Greece Aluminium recycling and casting | Agios | Agios Thomas, Greece Thomas, Viotia, Greece Solutions for a complete range of coated aluminium • Aluminium rolling shutters and doors • Aluminium bi
Slide 33: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Elval is among the top suppliers of Marine Defense projects worldwide while supplying materials for other defense-related applications. Packaging Shipbuilding • Beverage cans • Patrol vessels • Food containers • Catamarans • Flexible packaging • Yachts • Household
Slide 34: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Commercial Transportation Automotive • Tipper trucks • Internal parts • Road silos • Heat exchangers • Refrigerator trucks • Air pressure vessels/ Fuel tanks • Cargo wagons • Suspension & brake systems Corporate Presentation 2026 34
Slide 35: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Industrial Applications Domestic Applications • Renewable energy • Cookware • Bus ducts • White goods • Lamp base • Telecommunication cabins Corporate Presentation 2026 35
Slide 36: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Building & Construction • Façades • Rain gutters • Multi-layer tubes • Functional coatings • Flashings • Roller shutters • Roofing • False ceilings Corporate Presentation 2026 36
Slide 37: Certified Processes & Quality Standards
CERTIFIED PROCESSES & QUALITY STANDARDS • Quality: certified according to • Certified according to AS9100 Standard ISO 9001:2015 • Certified according to ISO 27001:2013 • Environmental management system: Standard certified with ISO 14001:2015 • Certifications by all major classification • Energy man
Slide 38: Copper Segment
04. Copper segment Shaping tomorrow
Slide 39: Copper Segment
COPPER SEGMENT State of the art production facilities for European market Products sold in High specifications Strong input in: copper and copper alloys and zinc titanium leader in copper around output according to • HVAC&R industry products: tubes. customers’ quality • Automotive industry • Largest
Slide 40: Main Production Facilities
MAIN PRODUCTION FACILITIES Copper Tubes | Oinofyta, Greece Copper tubes plant producing: • Copper tubes with or without plastic coating or industrial insulation Capacity 80,000 tons/year Corporate Presentation 2026 40
Slide 41: Production Facilities
PRODUCTION FACILITIES Copper & copper alloys semi finished products Copper alloys bars, tubes and wires | Oinofyta, Copper & copper alloys products | Oinofyta, | Oinofyta, Greece Greece Greece Foundry producing: Specialises in the production of extruded Production of tubes with enhanced inner and •
Slide 42: Production Facilities
PRODUCTION FACILITIES Copper / Copper alloys rolled & extruded | Sofia, Bulgaria Specialises in the production of a wide range of bare and Capacity plated rolled and extruded copper and copper alloys products 145,000 tons/year Corporate Presentation 2026 42
Slide 43: Main Production Facilities
MAIN PRODUCTION FACILITIES Coin blanks - Case & bullet cups - Circles | Pogoni, Ioannina, Pre-insulated copper tubes | Gebze, Turkey Titanium Zinc | Budel, Netherlands Greece Specialises in the production of all types of coin blanks, Specialises in the production of Specialises in the production of
Slide 44: Revenue of Core Products by Market & Geography – Copper
REVENUE OF CORE PRODUCTS BY MARKET & GEOGRAPHICAL SEGMENT – COPPER SEGMENT Revenue Breakdown (FY 2025) By Market (% of tons) By Geographical Segment (% of €) Other Industrial Transportation Other Europe Markets 10% 15% 2% America EU (excl. Greece) HVAC&R 7% 68% 20% Greece Industrial 5% Applications
Slide 45: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS HVAC&R Building & Construction Industrial Applications • Air-conditioning • Water supply and heating networks • Fittings • Refrigeration • Under floor heating and cooling • High frequency cables • Heat exchangers • Air-conditioning • Boilers • Heat pumps • Refrigeration
Slide 46: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS Renewable Energy Extruded Products • Solar absorbers Copper alloys and brass rods, bars, tubes, wires for: • Solar system networks • Geothermal heating and cooling • Building and construction, electrical engineering • Automotive, naval and decoration applications Corpora
Slide 47: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS Automotive Architecture Electronic / Electrical Commercial transportation Decoration • Electrical engineering • Cable wrapping • Connectors • Roofing equipment • Copper shielding for HFC • Battery terminals • Façades • Switchgear manufacturing • Windmills • Power distrib
Slide 48: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS Defence Other markets • Case cups and bullet cups • Coin blanks all types • Copper and brass strips • Rings for bi-colour coin blanks • Discs, sheets, plates and copper profiles • Cymbals • Decorative parts • Boilers for solar systems • Deep drawing products Corporate Pr
Slide 49: Certified Processes & Quality Standards
CERTIFIED PROCESSES & QUALITY STANDARDS • Quality management system: certified according to ISO 9001:2015 • Environmental management system: certified according to ISO 14001:2015 • Energy management system: certified according to ISO 50001:2018 • Health and safety management system: certified accord
Slide 50: Our Performance
06. Our Performance
Slide 51: Consolidated Key Figures
CONSOLIDATED KEY FIGURES AL CU Volumes (kTn) Revenue (€m) +5.1% +4.4% 3,714 3,615 3,293 3,438 2,883 1,787 1,764 1,708 1,669 171 172 190 175 1,543 190 392 386 414 428 1,927 1,731 1,850 362 1,625 1,340 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 a-EBITDA (€m) EBITDA (€m) +9.1% 326 +37.6% -0.8% -
Slide 52: Consolidated Key Figures
CONSOLIDATED KEY FIGURES AL CU EBIT (€m) a-EBIT (€m) 257 201 +3.2% -2.7% +71.3% 11.2% 171 57 44 166 167 177 147 157 72 79 66 83 98 103 63 68 200 36 157 57 94 92 101 79 93 94 63 46 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 EBT (€m) Metal Result (€m) 200 61 56 28 +193.3% 17 -1.0% 35 -113.1% 13
Slide 53: Sales Evolution per Quarter
SALES EVOLUTION Sales volumes (‘000tn). PER QUARTER Aluminium +4.5% +4.5% +5.0% +3.0% +2.6% +5.1% +3.1% +2.9% +8.3% +11.4% +3.4% +6.2% 109 114 104 106 104 108 97 100 102 98 100 102 94 95 97 94 91 91 91 85 2021 2022 2023 2024 2025 Q1 Q2 Q3 Q4 Copper -2.6% -0.9% -4.7% -2.1% -2.0% +3.2% +4.3% -3.2% -4.
Slide 54: a-EBITDA Evolution per Quarter
a-EBITDA EVOLUTION a-EBITDA (€m). PER QUARTER Aluminium +8.6% +11.0% +4.5% 66 +19.4% +9.0% +91.1% 58 -21.4% 53 -15.8% 2021 44 39 39 42 36 35 35 38 2022 35 33 32 30 29 28 2023 26 23 20 2024 2025 Q1 Q2 Q3 Q4 Copper +11.2% +21.8% -4.2% -12.9% +5.7% +1.6% 31 30 -9.2% 28 28 -23.6% 2021 25 24 24 21 22 19
Slide 55: Evolution of Consolidated Working Capital and Net Debt
EVOLUTION OF THE CONSOLIDATED WORKING CAPITAL AND NET DEBT Working Capital % of Sales ~20% ~21% ~19% ~16% ~15% 31.12.2021 31.12.2022 -1% 31.12.2023 984 862 +3% 31.12.2024 802 785 735 Source:Companyinformation and Financial Statements Source:Net Debt has 698 718 574 620 31.12.2025 566 538 557 422 393
Slide 56: Capex Evolution
CAPEX EVOLUTION €m 172 164 12 20 145 15 116 92 22 95 89 420 160 26 75 65 34 144 29 130 24 49 13 8 94 69 61 52 58 51 AL 41 38 CU 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: Annual Financial Statements and Company information. Corporate Presentation 2026 55 58
Slide 57: World-Class Investments
Continuous and WORLD-CLASS targeted investments INVESTMENTS in key areas. New Cold Rolling Mill (Mino) - Aluminium segment New Lacquering line (Andritz) - Aluminium segment New bell annealing facility - Copper segment Four-stand Tandem hot finishing mill - Aluminium segment Corporate Presentation 20
Slide 58: Conclusion. Highlights
CONCLUSION. HIGHLIGHTS ElvalHalcor has invested State of the art The 2nd aluminium rolling A proven track-record, significantly in the last years equipment plant in Europe (in terms of having reached No1 and is ready to leverage the and production hot rolling capacity)*. in the Cu tubes segment in b
Slide 59: Income Statement
INCOME STATEMENT PROFIT & LOSS STATEMENT EBITDA CALCULATION Amounts in € million 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Revenue 2,883.0 3,714.2 3,293.4 3,438.5 3,614.5 Depreciation 70,0 71,6 74,8 67,6 70,7 Aluminium Segment 1,340.3 1,927.5 1,624.6 1,730.9 1,850.2 Grant Depreciation (1,6)
Slide 60: Balance Sheet
BALANCE SHEET BALANCE SHEET BALANCE SHEET HIGHLIGHTS Amounts in € million 2021 2022 2023 2024 2025 Amounts in € million 2021 2022 2023 2024 2025 Non-current Assets (i) Working Capital Property. Plant and Equipment 967.7 1,031.7 1,051.7 1,055.4 1,069.6 Inventories 697.6 861.9 734.7 802.0 983.6 Right
Slide 61: Disclaimer
DISCLAIMER The information contained in this corporate presentation (CP) has been prepared by ElvalHalcor S.A. (the Company). It is based on historical Forward Looking Statements financial data and other information already publicly disclosed by the Company. It also includes information from other s
Slide 62: www.elvalhalcor.com
u—~ w ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY S A www.elvalhalcor.com