Presentation of the Group - Salzgitter AG

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Presentation of the Group - Salzgitter AG
english

                          Presentation of the Group

SZAG Investor Relations
Presentation of the Group - Salzgitter AG
1 Salzgitter Group
          2 Market Situation
          3 Business Units
          4 Strategy

                               SZAG Investor Relations
          5 Guidance
english
Presentation of the Group - Salzgitter AG
Salzgitter Group

          Global Presence

            Strip Steel
            Plate / Section Steel

            Mannesmann

            Trading

            Technology

                                                                                                                       SZAG Investor Relations
                                    Crude steel production 2020: 6.0 million tons; trading volume: 3.2 million tons;
                                       Among the top 3 producers of beverage filling and packaging machinery
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                                                                                                                       3
Presentation of the Group - Salzgitter AG
Salzgitter Group

          Diversified product portfolio

                                                    Steel and Technology
                      Strip products                                                   Line pipes

                      Steel Service Center                                       Precision tubes

                      Heavy plates                                                Stainless tubes

                      Sections                                              Stockholding trading

                      Engineering services                                   International trading

                      Injection molding machinery                          Beverage filling plants

                                                                                                     SZAG Investor Relations
english

                                                                                                     4
Presentation of the Group - Salzgitter AG
Salzgitter Group

           Group structure and key data FY 2020

                                                                         Salzgitter AG Group

                                                            External Sales cons.:   € 7.1 billion    Employees: 22,604
                                                            EBT:                    € -196 million

                                                       Plate /
                 Strip Steel                                                 Mannesmann                   Trading           Technology
                                                    Section Steel
           External Sales:                        External Sales:        External Sales:           External Sales:    External Sales:
            € 1.9 billion                           € 0.7 billion           € 0.9 billion              € 2.2 billion       € 1.2 billion
           EBT:                                   EBT:                   EBT:                      EBT:               EBT:
            € -86.8 million                        € -94.4 million         € -62.0 million            € 25.1million       € 0.9 million
           Employees:                             Employees:             Employees:                Employees:         Employees:
            5,999                                   2,272                   4,366                      1,946               5,433

                                                                                                                                             SZAG Investor Relations
english

          All data about employees as per 12/31                                                                                              5
Presentation of the Group - Salzgitter AG
Salzgitter Group

            Group structure

                                                                                       Salzgitter AG

                                                                Salzgitter Mannesmann / Salzgitter Klöckner-Werke

                   Strip Steel          Plate / Section Steel         Mannesmann                         Trading              Technology       Industrial Participations /
                       BU                        BU                       BU                               BU                     BU                Consolidation

           Salzgitter               Ilsenburger                                                Salzgitter Mannesmann                          Verkehrsbetriebe Peine-
                                                                Mannesmannröhren-Werke                                 KHS
           Flachstahl               Grobblech                                                  Handel                                         Salzgitter

           Salzgitter               Salzgitter Mannesmann                                      Salzgitter Mannesmann
                                                                Europipe                                               KHS Corpoplast         Hansaport
           Europlatinen             Grobblech                                            50%   Stahlhandel                                                               51%

                                    Peiner                                                     Salzgitter Mannesmann   Klöckner DESMA         Gesis Gesellschaft für
           Salzgitter Bauelemente                               Mannesmann Line Pipe
                                    Träger                                                     International           Elastomertechnik       Informationssysteme

           Salzgitter Mannesmann    DEUMU Deutsche                                             Universal Eisen
                                                                Mannesmann Grossrohr                                   DESMA Schuhmaschinen   Telcat
           Stahlservice             Erz- und Metall-Union                                      und Stahl

                                                                                                                                              Salzgitter Mannesmann
                                                                Mannesmann Precision Tubes
                                                                                                                                              Forschung

                                                                                                                                              Salzgitter Automotive
                                                                Mannesmann Stainless Tubes
                                                                                                                                              Engineering

                                                                Hüttenwerke Krupp
                                                                                                                                              Salzgitter Hydroforming
                                                                Mannesmann               30%

                                                                                                                                                                                 SZAG Investor Relations
                                                                Borusan
                                                                                                                                              Aurubis
                                                                Mannesmann Boru          23%                                                                            29.99%

          BU = Business Unit
english

          As of December 2019
                                                                                                                                                                                 6
Presentation of the Group - Salzgitter AG
Salzgitter Group

            External sales 2020 by customer industries

          14%                                                                                                                                    14%
          Other                                                                                                                   Vehicle construction

          16%                                                                                                                                    13%
          Food and beverage industry                                                                                             Construction industry

          5%                                                                                                                                       4%
          Mechanical engineering                                                                                                          White goods,
                                                                                                                                  electrical equipment

          5%                                                                                                                                       3%
          Re-rollers                                                                                                         Energy sector and utilities

          3%                                                                                                                                     23%
          Tubes producers                                                                                               Traders, Steel-Service-Centers

                                                                                                                                                           SZAG Investor Relations
                                                                                            Broad customer base
english

          Only from entities within the group of consolidated companies of Salzgitter Group, excluding EUROPIPE Group                                      7
Presentation of the Group - Salzgitter AG
Salzgitter Group

            External sales 2020 by regions

          6%
          Other

          7%
          Asia

          11%
          Americas                                                                                                                             46%
                                                                                                                                             Germany
          5%
          Other Europe

          25%
          Other EU

                                                                                                                                                       SZAG Investor Relations
                                                                        Share of ex-Germany sales by consignee 54%
english

          Sales by consignee (only from entities within the group of consolidated companies of Salzgitter Group, excluding EUROPIPE-Group)             8
Presentation of the Group - Salzgitter AG
Salzgitter Group

           Key data per 2020/12/31

                                                                                                                                FY 2020   FY 2019         Δ

          Crude steel production                                                                                           kt   6,033.0   6,613.4    -580.4

          External sales1                                                                                        € million      7,090.8   8,547.3   -1,456.5

          Earnings before tax                                                                                    € million       -196.4    -253.3      56.9

          Earnings after tax                                                                                     € million       -273.9    -237.3      -36.6

          Earnings per share (undiluted)                                                                                   €      -5.13     -4.46      -0.67

          ROCE                                                                                                             %       -3.9      -5.8       1.9

          Core workforce2                                                                                                        22,604    23,354      -750

          1 only   from entities within the Group of Consolidated Companies of Salzgitter Group   2   per reporting date

                                                                                                                                                               SZAG Investor Relations
                                                 Financial year 2020 characterized by the distortions of the Corona pandemic
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                                                                                                                                                               9
Presentation of the Group - Salzgitter AG
Salzgitter Group

          Balance sheet
                      € million

                                      8.618                                                            8.618
                                                8.237                                         8.237

               Property, plant and                                                                               Equity
              equipment and other                                                                       2,939
                                                                                              2,679
                non-current assets    4,099
                                                4,245

                                                                                                              Pension
                                                                                              2,299     2,356 provisions
                        Inventories
                                      2,248
                                                1,934                                                         Other non-current
                                                                                              1,178     1,098 liabilities
                         Cash and
                         securities    751       621
                      Other current                                                                     2,225 Current liabilities
                                                                                              2,082
                            assets    1,519     1,438

                                      FY 2019   FY 2020                                      FY 2020   FY 2019

                                                                                                                                     SZAG Investor Relations
                                                          Continuing sound financial basis
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                                                                                                                                    10
Salzgitter Group

            Salzgitter Group Investments and Depreciation / Amortization

                                                                                                                             193

                            15                                 49                               44
                                                                                                                   593

                                                                                                                                   411
             352            342                               342                   338         340                          348
                                                    287                                                                                   295

               2016                                 2017                              2018                          2019           2020
                                     Investments1              Scheduled depreciation                 Unscheduled depreciation

                                                                                                                                                 SZAG Investor Relations
                                                                                        Focus on expansion investments
english

          1 Property,   plant and equipment and intangible assets, excluding financial assets                                                   11
Salzgitter Group

            History

                                               Strip Steel BU                    1998 Salzgitter AG                 Mannesmann BU                  Technology

                                           1937 Construction                   1989 Name change to
                                          Hüttenwerk Salzgitter                                                    2017 Relaunch of         2007 Integration into SZAG
                                            (Part of Reichswerke)               Preussag Stahl AG                 the brand presence

          First broad-flanged                      1964                                                            2000 Liquidation of             1992 - 1995
                                                                                     1970 Merger
          beam mill in Peine, 1914      Salzgitter Hüttenwerk AG                 to form Stahlwerke               Mannesmann Group,          Insolvency, restructuring        Cross-rolling process sketch of
                                        (since 1961 part of state-owned
                                               Salzgitter AG old)                Peine-Salzgitter AG            Integration Tubes into SZ   and end of steel production         Max Mannesmann, pre 1885

                                         Plate / Section Steel BU                                               1912 first attempts with
                                                                                                                 stainless steel tubes                  1977
                                                                             1880 Acquisition of Peiner
                                                                                                                1897 Start of production    First acquisition of part. in
                                        llsenburg: est. 1595,                   Walzwerk, est.1872
                                                                                                                  welded steel tubes        filling technology (H & K)
                                        plate since 1948
                                        Mülheim an der Ruhr:
                                        plate since 1882                                                           1886 First process                1923
                                                                                  1858 Foundation
                                                                                                                    for the rolling of      Foundation of steel group
          Demonstrations to save                                                  Ilseder Hütte AG
                                        Peine: Sections since 1876                                                seamless steel tubes        Klöckner-Werke AG
          the smelting works in                                                                                                                                                      Bottle filling line Phönix
          Salzgitter, c. 1950                                                                                                                                                                           c. 1936

                                                                                                                                                                                                                   SZAG Investor Relations
                                                                                                                                                                                 Privatization and acquisition
                                                                                                                                                                            of the Ilsenburg rolling mill, 1992
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          1989 privatization with the                                     First blast furnace in Ilsede, 1861         Stock listing 1998
          sale to Preussag AG                                                                                                                                                                                     12
1 Salzgitter Group
          2 Market Situation
          3 Business Units
          4 Strategy

                               SZAG Investor Relations
          5 Guidance
english
Market Situation

           Raw materials prices

                                  Iron ore                                                    Coking coal
                         (62% Fe CFR China, US$/dmt)                                      (FOB Australia, US$/t)
          200                                                           250

          175
                                                                        200
          150

          125                                                           150

          100
                                                                        100
          75

          50                                                             50

                                                                                                                    SZAG Investor Relations
                                           Diverging price development of the major raw materials
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                                                                                                                   14
Market Situation

           Steel prices

                               Spot prices Northern Europe                                          Hot-rolled coil prices international
             1,200                                                                    1,200
          (€/t)                                                                     (€/t)
             1,100                                                                    1,100

             1,000                                                                    1,000

                  900                                                                   900

                  800                                                                   800

                  700                                                                   700

                  600                                                                   600

                  500                                                                   500

                  400                                                                   400

                  300                                                                   300
                    Jan/ 19    Jul/ 19        Jan/ 20        Jul/ 20      Jan/ 21         Jan/ 19      Jul/ 19         Jan/ 20         Jul/ 20       Jan/ 21
              HRC EXW Ruhr        Plate EXW Ruhr        Medium sections                             Northern Europe EXW Ruhr     USA EXW Indiana   China Schanghai

                                                                                                                                                                      SZAG Investor Relations
                        Following a period of inadequate steel prices, selling prices surged starting in the second half of 2020
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                                                                                                                                                                     15
Market Situation

            EU steel imports

                                                                          Rolled steel imports into the EU-28 (in Tt/month)

                  2,500                                                                                                                                                     20%

                  2,000                                                                                                                                                     16%

                  1,500                                                                                                                                                     12%

                  1,000                                                                                                                                                     8%

                    500                                                                                                                                                     4%

                      0                                                                                                                                                     0%
                                     2014                     2016                      2017                       2018                    2019                2020

                                    China       Ukraine       Russia        Turkey       India       South Korea          Iran    Brazil     Other   Market share imports

                                                                                                                                                                                   SZAG Investor Relations
                                                          High level of imports also in 2020 despite slump of demand
english

          Source: Eurofer, January 2021, own presentation, preliminary SURVEILLANCE data for December; market share Jan. to Nov. 2020                                             16
1 Salzgitter Group
          2 Market Situation
          3 Business Units: Strip Steel
          4 Strategy

                                          SZAG Investor Relations
          5 Guidance
english
Strip Steel Business Unit

          Overview

                                      Capabilities                                     External sales by customer industry 2020
                                       Integrated steel works with three blast       1%                                                                 6%
                                        furnaces                                      Mechanical engineering                                           Other
                                       Approx. 4.7 mt/year crude steel capacity      14%                                                               37%
                                       Modern production plants                      Re-rollers                                        Vehicle construction
                                                                                      1%
                                       High processing competence (SSC)
                                                                                      Tube producers
                                      Core competences and products                                                                                      4%
                                       High-quality steel grades for sophisticated   37%                                               Construction industry
                                        applications                                  Traders                                                            7%
                                       Custom made solutions, e.g., hot-rolled       only from entities within the group of
                                                                                                                                                 White goods,
                                        and cold-rolled coil, galvanized and          consolidated companies of Salzgitter Group         electrical equipment

                                        coated sheet, laser-welded tailored            Key data FY 2020
                                        blanks, corrugated sheets, coffers,
                                        sandwich and acoustic elements
                                                                                       Consolidated Sales                          €m              1,880
                                       Customer focus through local presence
                                                                                       Earnings before taxes                       €m                  -87

                                                                                       Core workforce (12/31)                                      5,999

                                                                                                                                                                 SZAG Investor Relations
                                           Established supplier of the demanding German automotive industry
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                                                                                                                                                                18
Strip Steel Business Unit

           Strip Products

          Salzgitter Flachstahl GmbH
          Germany; shareholder: SZAG 100%
           Hot-rolled coil, cold-rolled coil, electrogalvanized, hot dip
            galvanized and organic coated sheet                                     Supplier of premium OEMs
           Integrated steel works with 3 blast furnaces
           Around 4.7 mt yearly crude steel capacity
           Top modern production plants
           High-tech downstream facilities
           5% market share in the EU28

                                                               2019         2020
           Shipments                             kt            4,239        3,971

                                                                                                                SZAG Investor Relations
           Sales                                €m             2,758        2,371
           Employees                         12/31             5,587        5,501
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                                                                                                               19
Strip Steel Business Unit

           Processing

           Salzgitter Europlatinen GmbH
          Germany; shareholder: SZAG 100%
          Custom-made solutions: Laser welded
          Tailored Blanks for lighter car bodies

                                                                 2019              2020
           Sales                                   €m              62               39
           Employees                          12/31               116               113

           Salzgitter Bauelemente GmbH
          Germany; shareholder: SZAG 100%
          Corrugated sheets, coffers, sandwich a. acoustic elements for wall and
          roof constructions of commercial buildings

                                                                 2019              2020

                                                                                           SZAG Investor Relations
           Sales                                   €m              51               41
           Employees                          12/31                70               70
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                                                                                          20
Strip Steel Business Unit

           Steel Service Center

          Salzgitter Mannesmann Stahlservice GmbH
          Germany; shareholder: SZAG 100%
           Two locations
                                                                  Excellent position in the heart of
           Modern plants and processes                           Europe
           600,000 t/year processing capacity

                                                    2019   2020
          Shipments                          kt     532    487

                                                                                                        SZAG Investor Relations
          Sales                             €m      369    313
          Employees                       12/31     317    315
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                                                                                                       21
1 Salzgitter Group
          2 Market Situation
          3 Business Units: Plate / Section Steel
          4 Strategy

                                                    SZAG Investor Relations
          5 Guidance
english
Plate / Section Steel Business Unit

          Overview

                                   Capabilities                                  External sales by customer industry 2020
                                    Section steel:                                                                                                4%
                                                                                17%
                                     − Top-modern mini mill with two electric                                                     Vehicle construction
                                       arc furnaces                             Other                                                              7%
                                     − Annual crude steel capacity 1 mt         5%                                                Construction industry
                                                                                Mechanical engineering                                             9%
                                     − Two rolling mills for medium and heavy
                                       sections                                                                                            White goods,
                                                                                                                                   electrical equipment
                                    Plate:                                     12%
                                                                                                                                                  46%
                                     − Two rolling mills for plate with         Tube producers
                                                                                                                                               Traders
                                       1.1 mt annual capacity                   only from entities within the group of
                                     − Plate width up to 4,800 mm               consolidated companies of Salzgitter Group

                                   Core competences and products                 Key data FY 2020
                                    High-strength, wear resistant and
                                     specialized steel grades                     Consolidated sales                         €m                684
                                    Medium and heavy sections, heavy plate
                                     incl. offshore and tube grades               Earnings before taxes                      €m                 -94

                                                                                  Core workforce (12/31)                                     2,272

                                                                                                                                                           SZAG Investor Relations
                                                   Plate: Broad range of high-quality plate products
                                                           Section Steel: Efficient production
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                                                                                                                                                          23
Plate / Section Steel Business Unit

           Heavy Plate

          Ilsenburger Grobblech GmbH
          Germany; shareholder: SZAG 100%
           Broad diversified heavy plate steel grades
           Construction plate, fine grained construction plate, alloyed
            and unalloyed boiler plate, offshore and tube grades
           High-strength and wear resistant grades
           7% market share in the EU28
           State of the art facilities, one of the most modern water
            quenching plants

                                                             2019          2020
          Shipments                                 kt        625          610

                                                                                   SZAG Investor Relations
          Sales                                    €m         494          443
          Employees                              12/31        655          623
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                                                                                  24
Plate / Section Steel Business Unit

           Heavy Plate

          Salzgitter Mannesmann Grobblech GmbH
          Germany; shareholder: SZAG 100%
           Heavy plate mill specialized in plate for longitudinally
            welded line pipe and similar applications, especially for
            EUROPIPE GmbH
           Pipe bending plant for seamless and welded steel tubes
            in carbon, alloyed, and high-alloy steels
           Test Center with a wide range of mechanical and
            technological tests

                                                             2019       2020
          Shipments                                 kt        371       309

                                                                                SZAG Investor Relations
          Sales                                    €m         256       204
          Employees                              12/31        536       470
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                                                                               25
Plate / Section Steel Business Unit

           Sections

          Peiner Träger GmbH
          Germany; shareholder: SZAG 100%
           Medium and heavy steel beams, Peine sections
           Progressive and flexible mini mill
           Two top-modern electric arc furnaces
           Adjusted crude steel capacity 1.0 mt/year
           12% market share in the EU28
           Two of the most efficient section mills worldwide with
            comprehensive range of products

                                                             2019    2020
          Shipments                                 kt        953    983

                                                                             SZAG Investor Relations
          Sales                                    €m         553    507
          Employees                              12/31        773    787
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                                                                            26
Plate / Section Steel Business Unit

           Other Companies

           Deutsche Erz- und Metall-Union-Gruppe
          Germany; shareholder: SZAG 100%
          Specialist trader for ferrous scrap, non-ferrous scrap, new metals and
          ferro alloys, as well as rolled steel products

                                                                  2019             2020
           Sales                                   €m              571             498
           Employees                             12/31             380             392

                                                                                           SZAG Investor Relations
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                                                                                          27
1 Salzgitter Group
          2 Market Situation
          3 Business Units: Mannesmann
          4 Strategy

                                         SZAG Investor Relations
          5 Guidance
english
Mannesmann Business Unit

          Overview

                               Capabilities                                     External sales by customer industry 2020
                                Own crude steel supply via 30%
                                                                                                                                                                            21%
                                 participation in Hüttenwerke Krupp
                                                                               43%                                                                         Vehicle construction
                                 Mannesmann GmbH
                                                                               Other
                                Plant for the production of semis for the                                                                                                   3%
                                 seamless tubes business                                                                                                   Construction industry
                               Core competences and products                   7%
                                                                                                                                                                            15%
                                Line Pipe: participation (50%) in the world   Mechanical engineering
                                                                                                                                                                  Energy sector
                                 market leader EUROPIPE; international         4%                                                                                   and utilities
                                 presence                                      Tube producers                                                                                7%
                                Precision Tubes: European market leader       only from entities within the group of                                                   Traders
                                Seamless Stainless Tubes: top player in       consolidated companies of Salzgitter Group, excluding EUROPIPE Group

                                 the world market                               Key Data FY 2020
                                Longitudinal and spiral welded large-
                                 diameter pipes, medium line pipes,              Consolidated Sales                                                   €m                 948
                                 seamless and welded precision tubes,
                                 stainless tubes                                 Earnings before taxes                                                €m                  -62

                                                                                 Core workforce (12/31)                                                                4.366

                                                                                                                                                                                     SZAG Investor Relations
                                     Global player in the high-quality segment of the global tubes market
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                                                                                                                                                                                    29
Mannesmann Business Unit

           Line Pipes

          EUROPIPE Group
          Germany; shareholder: SZAG 50%, Dillinger Hüttenwerke 50%
           Longitudinal and spiral welded large-diameter pipes for
            transcontinental and underwater pipelines
           In-house coating activities
           World market leader (7% market share)
           3 locations in D, USA
           Since January 1, 2014 reported at equity

                                                           2019       2020
          Shipments                           kt             581      471

                                                                              SZAG Investor Relations
          Sales                              €m              777      629
          Employees                       12/31            1.083      976
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                                                                             30
Mannesmann Business Unit

           Line Pipes

           Mannesmann Line Pipe GmbH
          Germany; shareholder: SZAG 100%
          HFI-welded medium line pipes incl.
          plastic- and cement coatings

                                                                  2019      2020
           Sales                                 €m                254      160
           Employees                           12/31               357      325

           Mannesmann Großrohr GmbH
          Germany; shareholder: SZAG 100%
          Spiral-welded large-diameter pipes made of hot-rolled coil

                                                                  2019      2020

                                                                                    SZAG Investor Relations
           Sales                                 €m                    58    51
           Employees                           12/31               124       117
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                                                                                   31
Mannesmann Business Unit

           Precision Tubes

          Mannesmann Precision Tubes Group
          Germany; shareholder: SZAG 100%
           Seamless and welded cold drawn precision tubes for the
            automotive and engineering industries as well as the energy                     Structural
                                                                                                                                        Pump case
                                                                                                                        Airbags
            sector                                                                          tube                                                    Stabilizers

           State of the art push bench plant for the production of hollows                                                                                         Suspension
                                                                                                                                                                    components

           Market leader in the EU28 (24% market share)                              Engine-
                                                                                      components

           10 locations in D, F, NL and Mexico                                                                                                        Seat belt-     IHU/IHV
                                                                                                                                                       fixings
                                                                                       Camshafts

                                                                                                         Drivetrain and steering components                           Drive shafts

                                                            2019              2020

          Shipments                            kt             247              180

                                                                                                                                                                                      SZAG Investor Relations
          Sales                              €m               458              324
          Employees                        12/31            2.256             2.063
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                                                                                                                                                                                     32
Mannesmann Business Unit

           Seamless Stainless Tubes

          Salzgitter Mannesmann Stainless Tubes Group
          Germany; shareholder: SZAG 100%
           Seamless hot- and cold finished stainless tubes
            for the chemical- and engineering industries,
            as well as for the energy sector
           6% market share in the world
           5 locations in D, F, I, USA

                                                              2019   2020

          Shipments                           kt               23     22

                                                                             SZAG Investor Relations
          Sales                              €m               290    260
          Employees                        12/31          1.021      996
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                                                                            33
Mannesmann Business Unit

           Significant shareholdings

          Hüttenwerke Krupp Mannesmann GmbH
          Germany; shareholder: ThyssenKrupp 50%,
          SZAG 30% + Vallourec 20% (Pool)
           Steel works with two blast furnaces
           Production of slabs and round steel bars
           Up to 1,000 different steel grades
           Yearly crude steel production of > 4 million tons

                                                                2019   2020

                                                                                SZAG Investor Relations
          Sales                               €m            2,496      1,984
          Employees                         12/31           2,947      2,880
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                                                                               34
1 Salzgitter Group
          2 Market Situation
          3 Business Units: Trading
          4 Strategy

                                      SZAG Investor Relations
          5 Guidance
english
Trading Business Unit

          Overview

                                  Capabilities                                      External sales by customer industry 2020
                                   69 sites in 27 countries                       8%                                                                      13%
                                                                                   Mechanical engineering                                                 Other
                                   Own distribution network for steel products
                                    with warehousing sites in Europe               3%                                                                       5%
                                                                                   Re-rollers                                             Vehicle construction
                                   Processing group specialized on heavy          2%
                                                                                                                                                           35%
                                    plate products                                 Tube producers
                                                                                                                                         Construction industry
                                   International trading                          31%                                                                      3%
                                  Core competences and products                    Traders                                                         White goods,
                                                                                                                                           electrical equipment
                                   Global presence in all relevant regions with                                                                            4%
                                    own representation                             only from entities within the group of            Energy sector and utilities
                                                                                   consolidated companies of Salzgitter Group
                                   Distribution channel for Salzgitter Group
                                    products                                        Key Data FY 2020
                                   Procurement channel for Salzgitter Group
                                    works                                           Consolidated Sales                          €m                   2,225
                                   Value add services for customers
                                                                                    Earnings before taxes                       €m                        25

                                                                                    Core workforce (12/31)                                           1,946

                                                                                                                                                                    SZAG Investor Relations
                                   High customer and market orientation through a global sales organization
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                                                                                                                                                                   36
Trading Business Unit

          Salzgitter Mannesmann Handel Group

                                                               Salzgitter Mannesmann Handel
                                            Shipments 2020: 43.0 mt                         Sales 2020: € 2.1 billion

          Trading                                 Stockholding                                                          Agencies

          International
                                                  Salzgitter Mannesmann Stahlhandel   Europe                            Europa
          9 Companies
                                                  GmbH, Düsseldorf (SMSD)             7 Companies                       4 Agencies
          2 Rep. offices

                                                  16 Branches with warehouses and
          Salzgitter Mannesmann International
                                                  further processing (incl. 4 flame
          GmbH, Düsseldorf (SMID)
                                                  cutting plants)

          Salzgitter Mannesmann International      Stahl-Center Baunatal GmbH,
          (USA) Inc., Houston (SMIH)               Baunatal (SCB)

          Salzgitter Mannesmann International
          (Canada) Inc., Vancouver (SMIV)

                                                                                                                                      SZAG Investor Relations
                                                     59 locations in 27 countries with 1,603 employees
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                                                                                                                                     37
Trading Business Unit

          Universal Eisen und Stahl Group

                                                                        Universal
                                        Shipments 2020: 0.2 mt                        Sales 2020: € 0.2 billion

          North America                                                                           Europe

                                                          Universal
          UNIVERSAL STEEL AMERICA, Inc., Houston, USA                                                  Universal Aciers Sarl, Couzon au Mont d'Or, France
                                                          Eisen und Stahl GmbH, Neuss (UES)

                                                                                                       UNIVERSAL STEEL HOLLAND B.V., SK
          2 Branches                                      4 Branches
                                                                                                       Papendrecht, Netherlands

                                                                                                       UNIVERSAL-Stal Sp. z o.o, Gliwice, Poland

                                                                                                       UNIVERSAL OCEL spol. s.r.o., Prague,
                                                                                                       Czech Republic

                                                                                                                                                             SZAG Investor Relations
                                                    10 locations in 6 countries with 365 employees
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                                                                                                                                                            38
1 Salzgitter Group
          2 Market Situation
          3 Business Units: Technology
          4 Strategy

                                         SZAG Investor Relations
          5 Guidance
english
Technology Business Unit

          Overview

                                 Capabilities                                    External sales by customer industry 2018
                                  17 Production plants worldwide               2%                                                              1%
                                  60 Service sites
                                                                                Vehicle                                                 White goods,
                                  > 90% of sales outside of Germany            construction                                   electrical equipement
                                 Core competences and products
                                  KHS: among the top 3 global suppliers for                                                                    7%
                                   filling and packaging machines; technology   90%
                                                                                                                             Mechanical engineering
                                   and innovation leadership                    Food and beverage
                                  DESMA Elastomertechnik: Global leader        industry
                                   for rubber and silicon injection molding
                                   machines                                     only from entities within the group of
                                                                                consolidated companies of Salzgitter Group
                                  DESMA Schuhmaschinen: World market
                                   leader for the production of machines for     Key data FY 2018
                                   the production of shoes and shoe soles
                                  Turn-key lines, single machines and           Consolidated Sales                          €m             1.390
                                   service
                                                                                 Earnings before taxes                       €m                33

                                                                                 Core workforce (12/31)                                     5.557

                                                                                                                                                        SZAG Investor Relations
                              Top 3 producer for filling and packing industry, world market leader for rubber and
                                         silicon injection molding as well as direct soling machines
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                                                                                                                                                       40
Technology Business Unit

           Filling and packaging

           KHS Group
          Germany; shareholder: SZAG 100%
           A global leader and solution provider of first choice in the packaging
            industry
           Among the Top 3 producers
           Focus on beverage applications
           Supplier of single machines and turnkey solutions (one-stop-shop
            supplier)
           Leadership in technology and innovation
           11 production sites: 5 in Germany, 2 in the US, and 1 each in Mexico,
            Brazil, China and India

                                                                   2019              2020

                                                                                              SZAG Investor Relations
           Sales                                  €m               1,260             1,131
           Employees                            12/31              4,793             4,729
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                                                                                             41
Technology Business Unit

           Special machinery

          Klöckner DESMA Elastomertechnik Group
          World market leader for rubber and silicone injection molding
          machinery

                                                            2019          2020
          Sales                              €m               79           53
          Employees                        12/31             540          486

          DESMA Schuhmaschinen GmbH
          World’s largest producer of machines for the fabrication of
          shoes and shoe soles

                                                            2019          2020

                                                                                  SZAG Investor Relations
          Sales                              €m               52           24
          Employees                        12/31             224          218
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                                                                                 42
1 Salzgitter Group
          2 Market Situation
          3 Industrial Participations
          4 Strategy

                                        SZAG Investor Relations
          5 Guidance
english
Industrial Participations

          Overview

                                       Comprises activities that are not directly     Key data FY 2019
                                       allocated to a business unit
                                                                                      Consolidated sales              €m    148
                                       Core competences and participations
                                                                                      Earnings before taxes           €m     21
                                        Services:
                                         − Research and development for the           Core workforce (12/31)               2.588
                                           Group and external customers
                                         − Information technology
                                         − Engineering services
                                         − Real estate- and facility development as
                                           well as management
                                         − Freight traffic

                                        Shareholdings:
                                         − Aurubis
                                         − Hansaport

                                                                                                                                    SZAG Investor Relations
                                      Gratifying contribution from the service companies and the Aurubis investment
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                                                                                                                                   44
Industrial Participations

           Engineering

          Salzgitter Mannesmann Forschung GmbH
          Germany; shareholder: SZAG 100%
          Research and development for the Group and external customers
          with a focus on:
           Processes for the manufacture, processing
            and application of metallic materials and products made of them
           Development of new materials
           Development of application areas
           Material and component characterization including testing
            techniques
           Application and engineering technology from component design
            through forming and assembly to corrosion protection
           Automation and testing techniques, as well as the construction
            of non-destructive testing facilities

                                                                               SZAG Investor Relations
english

                                                                              45
Industrial Participations

              Raw Materials and Logistics

              Glückauf Immobilien, RSE
          Companies specialized in real estate- and facility development
          as well as management

              Hansaport1
          Germany's largest seaport terminal for handling dry bulk goods
          (coal and ores), annual capacity of approximately 15 million tons

              Verkehrsbetriebe Peine-Salzgitter
          Commercial transportation provider with an annual freight
          volume of approximately 43 million tons

                                                                               SZAG Investor Relations
          1   SZAG share: 51%
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                                                                              46
Industrial Participations

           Data Processing and Communications

          Telcat Multicom/Telcat Kommunikationstechnik
          Systems for decentralized communication, Broad array of
          information solutions ranging from office communication and
          video technology to network services

          GESIS Gesellschaft für Informationssysteme
          Integration of business processes into one uniform IT-solution
          that reflects the entire workflow, Electronic data processing
          center capacities and
          the internet-based eService platform as a unified hub for order
          processing are offered for group companies and external clients

                                                                             SZAG Investor Relations
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                                                                            47
Industrial Participations

          Aurubis-Participation

          Aurubis Dividend (€/Share)
          1.80

          1.60                                                                                                               1.55
                                                                                                                 1.45
          1.40                                       1.35                                1.35
                                                                                                                                                     1.30
                                                                                                     1.25                                1.25
                                         1.20
          1.20                                                   1.10                                                                                             SZAG shareholding: 29.99%
                             1.00                                            1.00
          1.00                                                                                                                                                     (per May 23, 2019)

          0.80
                                                                                                                                                                  Net dividend received since
                 0.65                                                                                                                                              2009: € 131.8 million
          0.60                                                                                                                                                     (per FY19/20)
          0.40

          0.20

          0.00
                 2008/2009

                             2009/2010

                                         2010/2011

                                                     2011/2012

                                                                 2012/2013

                                                                             2013/2014

                                                                                         2014/2015

                                                                                                     2015/2016

                                                                                                                 2016/2017

                                                                                                                             2017/2018

                                                                                                                                         2018/2019

                                                                                                                                                     2019/2020

                                                                                                                                                                                                  SZAG Investor Relations
                                                           Since 2008 successful shareholding in the leading European copper producer
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                                                                                                                                                                                                 48
1 Salzgitter Group
          2 Market Situation
          3 Business Units
          4 Strategy

                               SZAG Investor Relations
          5 Guidance
english
Strategy

              Management of the COVID-19 impacts

                            Protecting employee health                                      Ensuring operating ability

          •    Comprehensive risk-minimizing precautions and guidelines   •   Highest priority for liquidity management
          •    Creation of transparency in regards to occurrences of      •   Temporary reduction of production
               infection in the whole Group and detailed continuous       •   Short-term work in many parts of the Group
               monitoring
                                                                          •   Saving without endangering the future: restrictive handling
          •    Assumption of social responsibility also at our foreign        of new investments, but continuation of strategic
               locations                                                      investment projects

                                                                                                                                             SZAG Investor Relations
                              Through the crisis with consistency, transparency and stringent liquidity management!
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                                                                                                                                            50
Strategy

          “Salzgitter AG 2021” growth strategy – goals and stipulations

          Goals                                                          Stipulations
                  Steel-related         Less steel-related
                                                                         1. Qualitative Growth
                                                                          Rolled steel production and parts of the tubes production can
                                                                          only grow qualitatively, not quantitatively.

                                                                         2. Quantitative Growth
                                                                          Quantitative growth is possible exclusively in activities apart
                                                                          from steel – especially in the Technology Business Unit.
               Start 2016         60%         40%

                                                                         3. External Growth
               H1 2020       50%          50%
                                                                          External growth on a larger scale is not mandatorily necessary
                                                                          for the development of the business units – can, however, be
               Goal           50%         50%                             desirable.

                                                                                                                                             SZAG Investor Relations
                                         Diversification strategy proves to be right especially now!
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                                                                                                                                            51
Strategy

          “Salzgitter AG 2021” growth strategy – implementation

          1. Qualitative growth in steel-related areas
          Ilsenburger Grobblech GmbH:                                       Salzgitter Flachstahl GmbH:
          New heat treatment line                                           Hot-Dip Galvanizing Line 3
           Optimization of the product portfolio                            Strengthening of the premium segment for
           Commissioning: 2021                                               automotive customers
                                                                             Commissioning: 2022

          2. Quantitative growth in less steel-related activities
          DESMA Schuhmaschinen GmbH:                                        Mannesmann Precision Tubes:
          “Factory of the Future”                                           Expansion of the plant in Mexico
             Capacity expansion                                               Precision steel tubes for the USMCA area
             Inauguration in July 2020                                        Commissioning: Q3 2019

          3. External growth
          Aurubis AG                         KHS GmbH                       Mannesmann Stainless Tubes         Salzgitter Hydroforming GmbH
           Increase of the                   Cooperation with Ferrum AG    Acquisition of the stainless      Joint Venture with Baolong
             participation to 29.99 %          for can seaming                steel tube producer SOTEP           for the production of
                                                                                                                  hydroformed components

                                                                                                                                               SZAG Investor Relations
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                                                                                                                                              52
Strategy

          Challenge: CO2 emission allowances are continuously cut back

                                                                                       Price forecast CO2 allowances

                                                    Third trading period                                               Fourth trading period
                           60

                           50

                           40
                 €/t CO2

                           30

                           20

                           10

                           0
                            2017      2018          2019          2020     2021       2022        2023   2024   2025    2026   2027    2028    2029   2030
                                           Price CO2 allowances      Estimates price CO2 allowances

                                                                                                                                                              SZAG Investor Relations
                                Price for CO2 emission allowances has surged since 2018 – further increase is highly likely!
english

          Source: ICIS, own calculations                                                                                                                     53
Strategy

          Our path towards a low-CO2, hydrogen-based steel production

              We are in control…                                                             …and pioneer at the same time

          CO2- emission allowances
          acquired as a precaution
              Shortfall in CO2 allowances has                                                        Significant, gradual reduction of
               been compensated for the most                                                           the CO2 emissions of Salzgitter
               part until 2030                                                                         AG

              Current market value of the CO2                                                        Target: Reduction of more than
               allowances acquired for this                                                            95 % of the CO2 emissions of
               purpose exceeds the figure                                                              Salzgitter Flachstahl until 2050
               accounted for in the balance
               sheet by more than € 400 million*

                                                                                                                                            SZAG Investor Relations
                                                     The Salzgitter Group acts decisively!
                                CO2 emission allowances for the Fourth Trading Period purchased as a precaution
                                     SALCOS® – technological concept for CO2-reduced steel production
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          * per January 2021                                                                                                               54
Strategy

          SALCOS® – Gradual conversion to a H2-based steel production

                                                                                                                                                               For the integrated
                                                                                                                                                               steel production we
                                                                                                                                                               are targeting
                                                                                                                                                               reductions in CO2
                                                                                                                                                               emissions

                                                                                                                                                               of 30 % by 2030

                                                                                                                                                               and

                                                                                                                                                               of 95 % by 2050.

                                                                                                                                                                                      SZAG Investor Relations
                                                                  We are ready!
                       Gradual technical implementation possible as soon as the necessary framework conditions are existing
english

          Individual stages may technically also be realized in combination. The actual implementation time depends on the economic and political framework.
                                                                                                                                                                                     55
          *with the use of 55% H2 in the Direct Reduction Plants (DRP) / **with the use of 100% H2 in the DRPs
Strategy

           Our path towards a low-CO2, hydrogen-based steel production
                                                                Feasibility study                                  µDRAL – Mikro-Direkt-
                                                                Iron ore direct reduction plant in Wilhelmshaven   ReduktionsAnLage
          First steam electrolysis on                                                                              Construction of a
          MW scale at Salzgitter                                                                                   demonstration plant
          Flachstahl as from 2020                                                                                  for direct reduction in
                                        Wind-H2: First industrial sector                                           Salzgitter
                                                                                      World’s largest high-
                                        coupling of “renewable power –
                                                                                      temperature
                                        hydrogen production – industrial
                                                                                      electrolyzer
                                        consumption” at one location in
                                                                                      commences trial
                                        Germany!
                                                                                      operation in Salzgitter

                       2017                    2018                   2019                    2020                    2021

              MACOR: SALCOS-feasibility
              study
               Analysis of framework conditions

                                                                                                                                              SZAG Investor Relations
               Numerical modelling of melt shop
                and direct reduction plant                                                      First slab successfully produced for
                                                                                                green strip steel
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                                                                                                                                             56
Strategy

              “Salzgitter Wind Hydrogen”

          Important building block on the way towards climate-friendly steel
          production
              Production of electricity via wind power and electrolytic
               hydrogen at the plant site
              Erection of seven wind turbines with an overall output of 30
               megawatt
              Hydrogen production with two 1.25 MW PEM electrolysis
               plants
              Capex of around € 50 million
              Supported by the State of Lower Saxony and KfW
               (Kreditanstalt für Wiederaufbau)
              Start March 11, 2021

                                                                                                                         SZAG Investor Relations
                                                      First industrial sector coupling of
                         “renewable power – hydrogen production – industrial consumption” at one location in Germany!
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                                                                                                                        57
Strategy

          Green strip steel

                                                  The mapping of all the relevant processes and
                                                   material flows is required to produce evidence
                                                   of product-specific CO2 emissions
                                                  TÜV SÜD developed the VERIsteel procedure
                                                   based on DIN EN ISO/IEC 17029 and other
                                                   international standards specifically for this
                                                   purpose

                                                                                                              SZAG Investor Relations
                              Renowned steel processors demonstrate keen interest for this low CO2 product
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                                                                                                             58
Strategy

          Update investment projects

          Ilsenburger Grobblech: New heat treatment line
           Optimization of the product portfolio
           Expansion of the market position and volume expansion for higher
            value grade segments such as high strength and wear resistant, water
            tempered steel
           Commissioning: 2021
           Current status: Trial operation

          Salzgitter Flachstahl: Hot-Dip Galvanizing Line 3
           Qualitative growth in the strip steel business
           Reinforcement of the market position in the automotive segment
           Strengthening of the premium segment for auto customers
           Commissioning: 2022
           Current status: Construction of the building

                                                                                                                SZAG Investor Relations
                                                             Sustainable strategy:
                                   Realization of major investment projects also in less comfortable phases!
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                                                                                                               59
1 Salzgitter Group
          2 Market Situation
          3 Business Units
          4 Strategy

                               SZAG Investor Relations
          5 Guidance
english
Guidance

              Business Units – Forecast 2021

              Strip Steel                           Plate / Section Steel                  Mannesmann                          Trading                            Technology
             Fully utilized capacity in the       Plate: market situation will        Large-diameter pipe mills:           Positive business                 KHS Group: Selling of new,
              first six months of 2021              remain tight, accompanied by         difficult market situation that       development on the back of a       innovative products and
              despite the ongoing                   persistently high imports,           should nevertheless improve           healthy demand situation and       additional market share gains
              pandemic situation                    lack of orders for the delivery     Medium line pipes: volume             notable uptrend in selling         in the standard business
                                                    of input material for line pipes     uptrend to resume                     prices
             Significantly higher operating                                                                                                                     Specialist mechanical
              costs are forecast for iron ore      Section Steel: volatile market      Precision tubes: continuation        Ongoing difficult trading          engineering companies of
                                                    environment that will                of the pleasing recovery of           conditions in international        the DESMA Group:
                                                    continue to focus on the             the market                            trading                            noticeable recovery of the
                                                    short term                          Stainless tubes: growing                                                 markets
                                                                                         demand
                                                                                                 Business Unit
             Significant increase in sales        Notable increase in sales             Higher sales level                 Markedly higher sales             Somewhat higher sales
             Very gratifying pre-tax profit       Significantly reduced but             Visibly improved but               Earnings before taxes             Pre-tax profit that is
              of more than € 100 million            nevertheless marked pre-tax            nevertheless still negative         notably higher than in the         significantly higher than in
                                                    loss                                   pre-tax result                      previous year                      the previous year

                                                                                                                                                                                                   SZAG Investor Relations
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                                                                                                                                                                                                  61
Guidance

             Salzgitter Group – Guidance

          With explicit reference to the still imminent, virtually unquantifiable risk of the Corona pandemic, we anticipate the following for
          the Salzgitter Group in the financial year 2021:

                 an increase in sales to more than € 8.5 billion, as well as

                 a pre-tax profit of between € 150 million and € 200 million.

          Legal Note and other remarks

          We make explicit reference to the fact that imponderables, including changes in the cost of raw materials, precious metal prices and exchange rates, along with global trade policy measures and their possible impact may still exert a considerable influence over
          the course of the financial year.

          To the extent that this presentation contains statements oriented towards or related to the future, such statements are based on our current state of knowledge and the estimates based on such knowledge made by the management of Salzgitter AG.
          However, as is the case with any forecasts or prognosis, such statements are also subject to uncertainties and risks. Notwithstanding prevailing statutory provisions and capital market law in particular, we are not obligated to update this data. In particular, we
          shall not assume liability of any kind for knowledge and statements, as well as any acts resulting on the basis of such knowledge or statements that emanate directly or indirectly from the analysis of the data, content and correlations of this document. The
          information and data made available do not represent an encouragement or invitation to buy, sell or conduct any other type of trade in securities. Salzgitter AG shall neither assume liability for direct nor indirect damages, including lost profits, arising as a

                                                                                                                                                                                                                                                                                    SZAG Investor Relations
          result of the utilization of the information or data contained in this document.

          For computational reasons, rounding-off differences of +/– one unit (€, % etc.) may occur in the tables. This document is also available in German language. In the event of any discrepancy, the German version shall prevail.
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BACKUP
          1 Financials
          2 Pensions
          3 Investor Relations

                                 SZAG Investor Relations
english
Financials

           Key data per 2020/12/31

                                                                                     FY 2020                 FY 2019             Δ    Q4 2020   Q3 2020   Q2 2020   Q1 2020

          Crude steel production                                           kt          6,033.0                 6,613.4      -580.4    1,698.8   1,381.5   1,271.2   1,681.5

          External sales1                                         € million            7,090.8                 8,547.3     -1,456.5   1,826.5   1,633.4   1,522.7   2,108.3

          Earnings before tax                                     € million             -196.4                  -253.3        56.9       28.0     -96.6     -96.4     -31.4

          Earnings after tax                                      € million             -273.9                  -237.3        -36.6     -30.9     -98.3    -101.0     -43.7

          Earnings per share (undiluted)                                    €             -5.13                   -4.46       -0.67     -0.59     -1.84     -1.88     -0.83

          ROCE                                                             %                -3.9                    -5.8       1.9        7.2     -10.9     -10.0      -2.4

          Core workforce2                                                               22,604                  23,354        -750     22,604    22,785    23,009    23,308

          1 only   from entities within the Group of Consolidated Companies of Salzgitter Group   2   per reporting date

                                                                                                                                                                               SZAG Investor Relations
                                                 Financial year 2020 characterized by the distortions of the Corona pandemic
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                                                                                                                                                                              64
Financials

           Income statement

          Income Statement (€ million)                                             FY 2020   FY 2019         Δ

          Sales                                                                    7,090.8   8,547.3   -1,456.5
          Increase/decrease in finished goods and work in process/other own
                                                                                    -158.1      -8.2    -149.9
          work capitalized
                                                                                   6,932.7   8,539.1   -1,606.4

          Other operating income                                                     345.3     285.6      59.7
          Cost of materials                                                        4,579.2   5,602.6   -1,023.4
          Personnel expenses                                                       1,654.1   1,815.7    -161.6
          Amortization and depreciation of intangible assets and property, plant
                                                                                     295.3     541.0    -245.7
          and equipment
          Other operating expenses                                                   936.6   1,157.8    -221.3
          Result from impairment losses and reversal of impairment losses of
                                                                                     -29.2     -25.1       -4.2
          financial assets
          Income from shareholdings                                                    2.4       2.0       0.4
          Result from investments accounted for using the equity method               95.6     125.2      -29.6
          Finance income                                                              14.9      17.5       -2.6
          Finance expenses                                                            92.9      80.4      12.5
          Earnings before taxes (EBT)                                               -196.4    -253.3      56.9

                                                                                                                   SZAG Investor Relations
          Income tax                                                                  77.5     -16.0      93.5
          Consolidated result                                                       -273.9    -237.3      -36.6
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                                                                                                                  65
Financials

           Consolidated balance sheet

          Assets (€ million)                                  12/31/2020    12/31/2019        Δ
          Non-current assets                                      4,244.5       4,099.0   145.5
          Intangible assets, property, plant and equipment        2,423.6       2,343.0    80.6
          Investment property                                        81.5          82.0     -0.5
          Financial assets                                           54.6          64.7    -10.1
          Investments accounted for using the equity method       1,169.1       1,072.9    96.2
          Trade receivables                                          11.0          18.4     -7.4
          Other receivables and other assets                         22.3          25.6     -3.3
          Income tax assets                                           0.5           0.0      0.5
          Deferred income tax assets                                481.9         492.3    -10.4
          Current assets                                          3,992.9       4,518.5   -525.6
          Inventories                                             1,933.7       2,248.1   -314.4
          Trade receivables                                         923.9       1,118.4   -194.5
          Contract assets                                           300.2         186.3   113.9
          Other receivables and other assets                        188.3         191.8     -3.5
          Income tax assets                                          23.7          22.6      1.1

                                                                                                    SZAG Investor Relations
          Securities                                                  0.0          50.9    -50.9
          Cash and cash equivalents                                 621.4         700.5    -79.1
          Balance sheet total                                     8,237.4       8,617.5   -380.1
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                                                                                                   66
Financials

           Consolidated balance sheet

          Equity and liabilities (€ million)                12/31/2020    12/31/2019        Δ
          Equity                                                2,678.9       2,938.6   -259.7
          Subscribed capital                                     161.6         161.6       0.0
          Capital reserve                                        257.0         257.0       0.0
          Retained earnings                                     2,594.5       2,845.1   -250.6
          Other reserves                                          26.4          23.0       3.4
          Unappropriated retained earnings                          0.0         12.1     -12.1
          Treasury shares                                        -369.7        -369.7      0.0
          Minority Interest                                         9.1           9.6     -0.5
          Non-current liabilities                               3,476.4       3,453.6    22.8
          Provisions for pensions and similar obligations       2,298.6       2,356.1    -57.5
          Deferred tax liabilities                                73.9          72.0       1.9
          Income tax liabilities                                  30.4          36.6      -6.2
          Other provisions                                       267.1         334.9     -67.8
          Financial liabilities                                  749.4         637.1    112.3
          Other liabilities                                       57.1          16.8     40.3
          Current liabilities                                   2,082.1       2,225.3   -143.2
          Other provisions                                       210.4         224.6     -14.2
          Financial liabilities                                  488.3         430.1     58.2
          Trade payables                                         802.4         915.2    -112.8

                                                                                                  SZAG Investor Relations
          Liability contracts                                    272.8         200.7     72.1
          Income tax liabilities                                    5.5           8.6     -3.1
          Other liabilities                                      302.8         446.0    -143.2
          Balance sheet total                                   8,237.4       8,617.5   -380.1
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                                                                                                 67
Financials

          Cash flow statement
          € million
           800

                                                  18.3

           600                                                     -234.2                           14.2
                                                                                     151.0

           400
                             700.5
                                                                                                                        621.4

           200

              0
                         Cash and cash           Cash flow        Cash flow         Cash flow       Other          Cash and cash
                       equivalents at start   from operating   from investment   from financing                   equivalents at end
                            of period            activities       activities        activities                        of period

                                                                                                                                        SZAG Investor Relations
               Cash flow from operating activities include payment to Federal Cartel Office as well as higher tax payments in
                                                     connection with securities lending
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                                                                                                                                       68
Financials

           Strip Steel Business Unit

                                                          FY 2020   FY 2019          Δ    Q4 2020    Q3 2020    Q2 2020    Q1 2020

          External sales                      € million   1,879.7    2,209.0     -329.3     494.7      482.1       336.6      566.2

          Order bookings                             kt   4,238.8    4,318.4      -79.6    1,227.9    1,176.9      640.9    1,193.1

          Order backlog1                             kt   1,082.2     913.7      168.5     1,082.2     889.6       779.4      917.8

          EBITDA                              € million      65.8     259.5      -193.6      42.9       10.6       -22.3       34.6

          EBT                                 € million     -86.8      -42.8      -44.0        8.1      -25.7      -62.4       -6.8

          Core workforce1                                   5,999     6,090        -91      5,999      6,029       6,040      6,113

                                                                                                                                       SZAG Investor Relations
                  Surge in demand from June onwards almost compensates for previous slump of order intake; positive result in the
                                                               fourth quarter
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          1 per   reporting date                                                                                                      69
Financials

           Plate / Section Steel Business Unit

                                                       FY 2020     FY 2019           Δ     Q4 2020     Q3 2020    Q2 2020   Q1 2020

          External sales                   € million      684.2       804.7      -120.5      153.8       167.1      168.7     194.5

          Order bookings                          kt    1,958.5     1,873.3       85.1       558.6       434.3      381.7     583.8

          Order backlog1                          kt      386.4       309.1       77.3       386.4       287.3      274.2     369.4

          EBITDA                           € million      -63.8       -30.0       -33.7       -21.0       -30.1     -14.9       2.2

          EBT                              € million      -94.4      -124.0       29.6        -29.7       -37.8     -22.8      -4.2

          Core workforce1                                 2,272       2,352        -80       2,272       2,313      2,347     2,353

                                                                                                                                       SZAG Investor Relations
                                   Sales and earnings reflect difficult market situation in the plate business;
                                                    sections segment nearly at breakeven
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          1 per   reporting date                                                                                                      70
Financials

          Mannesmann Business Unit

                                                       FY 2020   FY 2019           Δ    Q4 2020    Q3 2020    Q2 2020   Q1 2020

          External sales                   € million     946.7    1,119.6      -173.0     223.4       228.8     198.6     295.9

          Order bookings                   € million   1,072.7    1,384.4      -311.6     309.8       265.1     178.3     319.5

          Order backlog1                   € million     359.3      446.4       -87.1     359.3       357.7     347.8     402.3

          EBITDA                           € million       2.6       70.0       -67.4       4.6       -10.1      -2.4      10.5

          EBT                              € million     -62.0      -41.5       -20.5      -13.8      -25.6     -18.1      -4.6

          Core workforce1                                4,366      4,643       -277      4,366       4,416     4,511     4,609

                                                                                                                                   SZAG Investor Relations
                                        Pandemic caused decline of demand in all product segments;
                                   despite immediate adaption of the capacity markedly lower pre-tax result
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          1)per   reporting date                                                                                                  71
Financials

           Trading Business Unit

                                                       FY 2020    FY 2019           Δ    Q4 2020     Q3 2020    Q2 2020   Q1 2020

          External sales                   € million    2,225.2    2,846.2      -621.0      557.2      438.7      525.8     703.4

          Shipments                               kt    3,176.4    3,795.8      -619.4      815.3      636.7      746.9     977.5

          EBITDA                           € million      44.1        -2.9       47.0        52.5        -3.3     -10.8       5.8

          EBT                              € million      25.1       -31.0       56.1        48.0        -7.1     -16.1       0.3

          Core workforce1                                1,946       2,066       -120       1,946      1,962      1,990     2,036

                                                                                                                                     SZAG Investor Relations
                                   Pre-tax profit notably higher than in the previous year despite impairment
                                           due to extraordinary proceeds from the sale of a property
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          1 per   reporting date                                                                                                    72
Financials

           Technology Business Unit

                                                     FY 2020   FY 2019          Δ    Q4 2020    Q3 2020    Q2 2020    Q1 2020

          External sales                 € million   1,207.0    1,390.3     -183.3      353.3      279.1      264.3      310.3

          Order bookings                        kt   1,248.2    1,374.2     -125.9      406.4      283.4      221.2      337.3

          Order backlog1                        kt     658.1     709.3       -51.3      658.1      626.4      618.2      739.3

          EBITDA                         € million      32.2      61.9       -29.7       23.8        3.9       -8.1       12.6

          EBT                            € million       0.9      32.7       -31.8       14.7       -3.2      -15.8        5.2

          Core workforce1                              5,433     5,557       -127       5,433      5,457      5,504      5,568

                                                                                                                                  SZAG Investor Relations
            KHS Group records a lower, but nonetheless pleasing result in a turbulent market environment that compensates the
                                                        losses of KDE and KDS
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          1 per   reporting date                                                                                                 73
Financials

           Industrial Participations / Consolidation

                                                                 FY 2020    FY 2019           Δ    Q4 2020    Q3 2020     Q2 2020   Q1 2020

          External sales                             € million     148.2      177.6       -29.4       44.0        37.6       28.7      38.0

          EBITDA                                     € million      95.1       -4.2       99.4        37.9        14.8       51.0      -8.5

          EBT                                        € million      20.8      -46.7       67.5         0.6         2.8       38.8     -21.3

          Core workforce1                                          2,588      2,646        -58       2,588      2,608       2,617     2,629

                                                                                                                                               SZAG Investor Relations
                                   Pre-tax includes € 104.0 million contribution of Aurubis AG, an investment included at equity
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          1 per   reporting date                                                                                                              74
BACKUP
          1 Financials
          2 Pensions
          3 Investor Relations

                                 SZAG Investor Relations
english
Pensions

          Mechanics of internal pension commitment funding

          Internal funding over lifetime of employee

                                                                      ...                                             ...
                     Joins               5 years                                         Retirement
                     company
                        Pension provision (non-cash)   Contribution by SZAG (non-cash)   Pension payment (cash)

                                                                                                                                                 SZAG Investor Relations
            Provision is determined by development of individual salary, time in employment at SZAG, actuarial life expectancy and inflation
            Contribution as personnel expense and interest element (both non-cash)
            Monthly payout from operating cash flow
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                                                                                                                                                76
Pensions

               Funding of pension commitments

              (2020/12/31)                                                      € bn                                      (2020/12/31)
                                                                                5
           Projected Benefit Obligation (PBO):                                                                            Balance sheet: pension provisions
            € 2,367 m1                                                                                                      € 2,299 m
                                                                                4
           According to IAS 19:                                                                                           Assets held by external funds:
               − Discount rate of 1.10%                                                                                     € 68.1 m
                                                                                3
                 – in line with market average                                                                             Non-current assets: € 4,245 m
               − Trend in salaries: 2.50% p.a.                                  2                                          Net position due to banks:
               − Trend in pensions:                                                                                         € -432 m
                                                                                1
                 1.50% p.a.
               − Staff turnover: 1% p.a.                                        0
               − Valuation based on the actuarial

                                                                                             provisions

                                                                                                          assets + cash
                                                                                       PBO

                                                                                                           Non-current
                                                                                              Pension
                 principles

                                                                                                                                                                 SZAG Investor Relations
                                                                  Pension obligations completely covered by internal funds!
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          1   thereof € 68.1 million covered by assets held by external funds                                                                                   77
BACKUP
          1 Financials
          2 Pensions
          3 Investor Relations

                                 SZAG Investor Relations
english
Investor Relations

          Shareholder structure and share turnover

                                     Shareholder structure                                                    Daily turnover in thousand shares

                                                                                                     600

                                                                                   Salzgitter AG
            Other shareholders
                                                       10.0%
                                          15.9%

                                                                                                     400
                                                                                        State of
                                                                 26.5%            Lower Saxony
                                 15.1%
            Retail investors

                                                                                                     200

                                               32.5%

                                                                           Institutional investors     0
                                                                                                           1Q 15 4Q 15 3Q 16 2Q 17 1Q 18 4Q 18 3Q 19 2Q 20
              Free float: 63.5%
              Treasury shares: as of July 8, 2010; other information is based on the external
              shareholder identification as of January 2021

                                                                                                                                                              SZAG Investor Relations
                                 Balanced shareholder structure                                                           High liquidity
english

                                                                                                                                                             79
Disclaimer

          Legal Note
          To the extent that our Internet pages contain statements oriented towards or related to the future, such statements are based on our current state of
          knowledge and the estimates based on such knowledge made by the management of Salzgitter AG. However, as is the case with any forecasts or
          prognosis, such statements are also subject to uncertainties and risks. Notwithstanding prevailing statutory provisions and capital market law in
          particular, we are not obligated to update this data. In particular, we shall not assume liability of any kind for knowledge and statements, as well as any
          acts resulting on the basis of such knowledge or statements that emanate directly or indirectly from the analysis of the data, content and correlations of
          this document. The information and data made available do not represent an encouragement or invitation to buy, sell or conduct any other type of trade
          in securities. Salzgitter AG shall neither assume liability for direct nor indirect damages, including lost profits, arising as a result of the utilization of the
          information or data contained in this document.

          Copyrights
          This data file and the data contained on these pages (including, among others, texts, images and graphics) are subject to copyright and other laws on
          the protection of intellectual property. To the extent that nothing contradicting or deviating is stated, all trademarks bear legal trademark protection. This

                                                                                                                                                                                SZAG Investor Relations
          applies in particular for Salzgitter company logos and product names. The brands and design elements used on our web pages are the intellectual
          property of Salzgitter AG. We therefore reserve all rights as such. The document serves to provide non-binding information regarding our company to
english

          the respective user, and may not be used within the framework of other depictions, in particular websites, without our express prior written consent.
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