Presentation of the Group

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Presentation of the Group
english

                          Presentation of the Group

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

                               SZAG Investor Relations
          5 Guidance
english
Presentation of the Group
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
english

                                                                                                                       3
Presentation of the Group
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 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 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 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 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 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 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
english

          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)
          250                                                           250

          225

          200                                                           200

          175

          150                                                           150

          125

          100                                                           100

          75

          50                                                             50

                                                                                                                              SZAG Investor Relations
                  Diverging raw material price development – coking coal prices recently surged, iron ore prices decreased
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                                                                                                                             14
Market Situation

           Steel prices

                               Spot prices Northern Europe                                           Hot-rolled coil prices international
             1,900                                                                     1,900
          (€/t)                                                                      (€/t)
             1,700                                                                     1,700

             1,500                                                                     1,500

             1,300                                                                     1,300

             1,100                                                                     1,100

                  900                                                                    900

                  700                                                                    700

                  500                                                                    500

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

                                                                                                                                                                     SZAG Investor Relations
                                        European steel prices stagnate at record levels following dynamic development
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                                                                                                                                                                    15
Market Situation

            EU steel imports

                                                                        Rolled steel imports into the EU-27 (in Tt/month)

                2,500                                                                                                                                             24%

                                                                                                                                                                  20%
                2,000

                                                                                                                                                                  16%
                1,500
                                                                                                                                                                  12%

                1,000
                                                                                                                                                                  8%

                   500
                                                                                                                                                                  4%

                      0                                                                                                                                           0%
                                  2014                     2016             2017               2018                2019             2020                 2021*

                                     China              Turkey     Russia          Ukraine      India        South Korea    Other          Market share imports
          *) Intra-year

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

          Source: Eurofer, May 2021, own presentation                                                                                                                   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
english

                                                                                          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
english

                                                                               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: 3.0 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 2020
                                  17 Production plants worldwide               2%                                                                1%
                                  60 Service sites
                                                                                Vehicle                                                   White goods,
                                  > 90% of sales outside of Germany            construction                                      electrical equipment
                                 Core competences and products
                                  KHS: among the top 3 global suppliers for                                                                      3%
                                   filling and packaging machines; technology   94%
                                                                                                                             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 2020
                                   the production of shoes and shoe soles
                                  Turn-key lines, single machines and           Consolidated Sales                          €m               1,207
                                   service
                                                                                 Earnings before taxes                       €m                    1

                                                                                 Core workforce (12/31)                                       5,433

                                                                                                                                                          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 2020
                                       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
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                                                                              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

          Our decarbonization strategy

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

          Acquired CO2- emission
          allowances
              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 exceeds the                                                      95% of the CO2 emissions of
               figure accounted for in the                                                          Salzgitter Flachstahl until 2050
               balance sheet by more than €
               800 million*

                                                                                                                                         SZAG Investor Relations
                                                   The Salzgitter Group acts decisively!
                            Purchase of CO2 emission allowances for the Fourth Trading Period carries us to 2030
                       SALCOS® – our technological concept for the medium and long-term CO2-reduced steel production
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          * per May 2021                                                                                                                50
Strategy

          Value of the acquired CO2 emission allowances

                                                                Market value CO2 emission allowances

                        1,000

                         750
            € million

                         500

                         250

                           0
                                3Q 16       1Q 17     3Q 17     1Q 18     3Q 18      1Q 19      3Q 19   1Q 20     3Q 20       1Q 21

                                                                                                                                       SZAG Investor Relations
                                        Acquired CO2 emission allowances have reached a market value of almost € 1 billion!
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                                                                                                                                      51
Strategy

          SALCOS® – Flexible hydrogen-based direct reduction

                                                                                                    Carbon dioxide
          → classic coal-based blast furnace route                          Blast furnace
          → innovative SALCOS®-route (direct reduction)

                                   Carbon (C): Coke, coal
                                                                                                       Pig iron                     Crude steel
                                                   Iron ore (Fe2O3)
                                                                                                          Basic oxygen converter (BOF)

                                                                                            Water
                                                   Iron ore (Fe2O3)
                                                                                            H2O
                                                                                                    Carbon dioxide
                                                                                                                        Scrap
                                                  Hydrogen (H2)
                                                              Natural gas
                                                                                                                                    Crude steel
                       Renewable        Electrolyzer          (CH4)
                     electric energy

                                                                                                                                                   SZAG Investor Relations
                                                                                Direct  Direct reduced            Electric arc furnace
                                 (variable use of natural gas and H2)         reduction   iron (DRI)                     (EAF)
                                                                                plant
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                                                                                                                                                  52
Strategy

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

             Today                                                     Indicative: 2025+               Indicative: 2030+                    Indicative: until 2050

                                    Status Quo                                           Pilot phase                                 Completion
            CO2-Emissions (8 m t/a)

                                                                           - 30% CO2
                                                                                                                                                                                         DRP

                                                                                                       - 50% CO2

                                                                                                                                            - 83% bis > - 95% CO2
                                                                                       (Stage I)                   (Stage II)
            Blast Furnaces

                                                                                                                                                                                          EAF

                                                                                                                                                                                   Electrolyzer
            Basic Oxygen Furnaces

                                                                                                                                                                     (Stage III)

                                                                                                                                                                                                   SZAG Investor Relations
                                    Status Quo                                              Stage I                       Stage II                                  Stage III
english

          EAF= Electric Arc Furnace          DRP= Direct Reduction Plant                                                                                                                          53
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
                                                                                           Bundling of
            study                                                                          regional
             Analysis of framework conditions                                             H2 expertise

                                                                                                                                              SZAG Investor Relations
             Numerical modelling of melt shop
              and direct reduction plant                                                        First slab successfully produced for
                                                                                                green strip steel
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                                                                                                                                             54
Strategy

              Green steel – current environment

              Marketable                                  Fundable                                  Economically viable

              Already today certified production         Funding for a major part of the          Higher prices for green steel in the
               and delivery of green steel                 capex requirements applied for via        short-term as a result of added
              In addition, strong interest from           the EU and Federal/State programs,        green value and supply shortage
               customers underpinned with                  binding response by                      In the medium- to long-term higher
               memoranda of understanding for              the end of 2021                           competitiveness of green vs. gray
               green steel via the hydrogen route         Acquired CO2 emission                     steel due to CO2 regulations and
              Natural gas as bridge technology            allowances serve as additional            rising prices
               allows for significant CO2 reduction        security
               until green H2 is available to the
               necessary extent

               We resolutely strive to realize our ambition to produce green steel at the Salzgitter site by the end of 2025
               in order to bolster our strong competitive ability and clear commitment to the green transformation

                                                                                                                                             SZAG Investor Relations
                              We have very good preconditions for a successful transformation towards green steel
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                                                                                                                                            55
Strategy

          EU crude steel: Green vs. Gray

                                                              Expected main drivers

                                  Green Steel                                                      Gray Steel

          Short-term: Price premium in the EU due to                       Medium- to long-term: significant additional burden as a
          supply shortage and added green value                            result of decreasing EU allocation of CO2-emission
                                                                           allowances and rising CO2 prices
          Medium- to long-term: Price premium will diminish following
          an increase of the supply and a decrease of production costs     Long-term: Lower to no demand as a result of substitution
          as a result of the scale effect and level of maturity            effects from gray to green steel, high cost pressure as
                                                                           demand decreases

                                                                                                                                        SZAG Investor Relations
                         Higher competitiveness for steel via direct reduction versus blast furnace route expected;
                                       in the long run Gray Steel made in Europe will be obsolete!
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                                                                                                                                       56
Strategy

          Green strip steel – these days already…

             Since the end of 2020, Salzgitter Flachstahl GmbH is offering green strip steel
              products in a defined range of various dimensions and grades
             The carbon footprint of these products is markedly below that of
              conventional products
             TÜV SÜD has confirmed this in February of 2021:

              “A reduction in the CO2 footprint of more than 75 % of a
              steel slab and more than 66 % of a hot-dip galvanized coil
              can be achieved by changing the steel production method
              from the conventional blast furnace route to the electric
              route.”

                                                                                                                 SZAG Investor Relations
                               …renowned steel processors demonstrate keen interest for this low CO2 product!
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                                                                                                                57
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, first deliveries to customers

          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: Installation of equipment

                                                                                                                      SZAG Investor Relations
                             Realization of major investment projects to grow in terms of quality progresses well!
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                                                                                                                     58
Strategy

          Strategy review initiated

                                                         FitStructure 2.0 (2019-)

                                                                                          FitStructure 2.0: Of a total of around
                             Salzgitter AG 2021 (2016-2021)                                € 300 m in earnings improvement
                                                                                           potential € 160 m realized per
                                                                                           June 30, 2021
                                                                                          A further € 100 m in additional
                        Development of new Group strategy (H2 2021)                        earnings contribution to be
                                                                                           expected from Salzgitter AG 2021

                                                                                      New Group strategy (2022-)

                                      2021                                                        2022

                                                                                                                                     SZAG Investor Relations
                                      Presentation of the new Group strategy expected for early 2022
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                                                                                                                                    59
Strategy

          Strategy review: key points

                Strategy                 Portfolio               Efficiency

          Who and what do we       What is the right        How do we generate
          want to be in            business portfolio for   additional efficiency
          2025/2030?               our strategy?            gains across the
                                                            entire value chain?

                                         Enabler

             Management structures and instruments, organization of the Group,
                                    corporate culture

                                                                                               SZAG Investor Relations
                                                  Review of the four main areas has started
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                                                                                              60
1 Salzgitter Group
          2 Market Situation
          3 Business Units
          4 Strategy

                               SZAG Investor Relations
          5 Guidance
english
Economic Development and Financials

              Business Units – Forecast

              Strip Steel                          Plate / Section Steel                Mannesmann                          Trading                                Technology
             demand that will fully utilize      plate: stable, healthy demand       large-diameter pipes:              exceptionally good earnings           KHS Group: sustained good
              capacity                             accompanied by rising                demand remains insufficient         situation of the first half year       order situation
             considerably improved, very          imports                             medium line pipes: uptrend in       cannot be expected to repeat          specialist mechanical
              high price levels in a multi-       section steel: volatile market       volumes to resume                   in these dimensions in the             engineering companies:
                                                                                                                            full year
              year comparison                      environment that will
                                                                                       precision tubes: demand                                                    notable rebound of the
              significantly higher operating       fundamentally continue to                                               selling price growth rates will        market
                                                                                       rebounding especially in the
              costs for iron ore and coking        focus on the short-term                                                  slow
                                                                                        automotive industry
              coal                                                                     stainless tubes: growing
                                                                                                                           prices will remain at a high
                                                                                                                            level
                                                                                        demand

                                                                                              Business Unit

             significant increase in sales       notable increase in sales           higher sales level                 considerably higher sales             higher sales compared with
              very gratifying pre-tax profit                                                                                                                       the previous-year period
                                                 return to the profit zone           pre-tax result will tangibly       earnings before taxes
              of more than € 300 million                                                improve while nevertheless          notably higher than in the            significant increase in pre-tax
                                                                                        remain in negative territory        previous year                          profit, positively influenced
                                                                                                                                                                   from non-recurrent effects

                                                                                                                                                                                                      SZAG Investor Relations
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                                                                                                                                                                                                     62
Economic Development and Financials

             Salzgitter Group – Guidance

          Provided that the market continues its stable development in the second half of the year despite the latent COVID-19
          crisis, we affirm our forecast for the financial year 2021 that was revised upward in June and anticipate the following for
          the Salzgitter Group:

             an increase in sales to more than € 9 billion,

             a pre-tax profit of between € 400 million and € 600 million, as well as

            a return on capital employed (ROCE) that is tangibly above the previous year's figure.

          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

                                                                                                                                                                                                                                                                                    SZAG Investor Relations
          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.

          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

                                                                                                             H1 2021       H1 2020      Δ    Q2 2021   Q1 2021

          Crude steel production                                                           kt                 3,377.6      2,952.7   424.9   1,733.1   1,644.5

          External sales1                                                       € million                     4,435.5      3,631.0   804.5   2,341.4   2,094.1

          Earnings before tax                                                   € million                        305.7      -127.8   433.5     188.4     117.3

          Earnings after tax                                                    € million                        230.6      -144.7   375.3     154.1      76.6

          Earnings per share (undiluted)                                                   €                       4.20      -2.70    6.90      2.82      1.38

          ROCE                                                                            %                        16.4       -6.3    22.7      20.1      13.2

          Core workforce2                                                                                      22,414       23,009    -595    22,414    22,475

                                                                                                                                                                  SZAG Investor Relations
                                Salzgitter Group continues its upward trajectory, delivering a strong result in the second quarter
english

          1 only   from entities within the Group of Consolidated Companies of Salzgitter Group   2   per reporting date                                         65
Financials

           Income statement

          Income Statement (€ million)                                             H1 2021     H1 2020        Δ
          Sales                                                                      4,435.5     3,631.0   804.5
          Increase/decrease in finished goods and work in process/other own
                                                                                       88.2        -57.2   145.4
          work capitalized

                                                                                     4,523.7     3,573.8   949.9

          Other operating income                                                      174.9       132.9     42.0
          Cost of materials                                                          2,925.8     2,373.3   552.5
          Personnel expenses                                                          871.2       846.0     25.2
          Amortization and depreciation of intangible assets and property, plant
                                                                                      149.9       148.7      1.2
          and equipment
          Other operating expenses                                                    509.3       462.1     47.3
          Result from impairment losses and reversal of impairment losses of
                                                                                         3.5        -8.9    12.4
          financial assets
          Income from shareholdings                                                      0.6         2.1    -1.5
          Result from investments accounted for using the equity method                82.5        33.3     49.2
          Finance income                                                                 3.5         3.9    -0.4
          Finance expenses                                                             26.6        34.8     -8.1

                                                                                                                    SZAG Investor Relations
          Earnings before taxes (EBT)                                                 305.7       -127.8   433.5
          Income tax                                                                   75.1        16.9     58.2
          Consolidated result                                                         230.6       -144.7   375.3
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                                                                                                                   66
Financials

           Consolidated balance sheet

          Assets (€ million)                                  2021/06/30    2020/12/31       Δ
          Non-current assets                                      4,229.0       4,244.5   -15.5
          Intangible assets, property, plant and equipment        2,424.0       2,423.6     0.4
          Investment property                                       80.8          81.5     -0.7
          Financial assets                                          53.1          54.6     -1.5
          Investments accounted for using the equity method       1,236.5       1,169.1    67.4
          Trade receivables                                           9.4          11.0    -1.6
          Other receivables and other assets                        18.3          22.3     -4.0
          Income tax assets                                           2.2           0.5     1.7
          Deferred income tax assets                               404.7         481.9    -77.2
          Current assets                                          4,771.7       3,992.9   778.8
          Inventories                                             2,181.1       1,933.7   247.4
          Trade receivables                                       1,416.0        923.9    492.1

          Contract assets                                          313.3         300.2     13.1
          Other receivables and other assets                       244.2         188.3     55.9
          Income tax assets                                         21.2          23.7     -2.5
          Securities                                                49.9            0.0    49.9

                                                                                                   SZAG Investor Relations
          Cash and cash equivalents                                544.6         621.4    -76.8
          Assets available for sale                                   1.4           1.7    -0.3
          Balance sheet total                                     9,000.7       8,237.4   763.3
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                                                                                                  67
Financials

           Consolidated balance sheet

          Equity and liabilities (€ million)                2021/06/30    2020/12/31        Δ
          Equity                                                2,998.5       2,678.9   319.6
          Subscribed capital                                     161.6         161.6       0.0
          Capital reserve                                        257.0         257.0       0.0
          Retained earnings                                     2,902.9       2,594.5   308.4
          Other reserves                                          37.7          26.4      11.3
          Unappropriated retained earnings                          0.0           0.0      0.0
          Treasury shares                                        -369.7        -369.7      0.0
          Minority Interest                                         9.0           9.1     -0.1
          Non-current liabilities                               3,340.2       3,476.4   -136.2
          Provisions for pensions and similar obligations       2,170.1       2,298.6   -128.5
          Deferred tax liabilities                                73.6          73.9      -0.3
          Income tax liabilities                                  30.4          30.4       0.0
          Other provisions                                       274.5         267.1       7.4
          Financial liabilities                                   737.3         749.4   -12.1
          Other liabilities                                        54.3          57.1    -2.8
          Current liabilities                                   2,662.0       2,082.1   579.9
          Other provisions                                        227.0         210.4    16.6
          Financial liabilities                                   454.1         488.3   -34.2
          Trade payables                                        1,231.4         802.4   429.0

                                                                                                  SZAG Investor Relations
          Liability contracts                                     381.0         272.8   108.2
          Income tax liabilities                                   10.9           5.5     5.4
          Other liabilities                                       357.6         302.8    54.8
          Balance sheet total                                   9,000.7       8,237.4   763.3
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                                                                                                 68
Financials

          Cash flow statement

          (€ million)                                                              H1 2021               H1 2020      Δ

          Cash and cash equivalents at the start of the period                        621.4                700.5   -79.1

          Cash flow from operating activities                                         222.1               -121.5   343.6

          Cash flow from investment activities                                       -197.7               -161.1   -36.6

          Cash flow from financial activities                                        -105.5                -12.5   -93.1

          Changes in cash                                                             -76.8               -299.0   222.2

          Cash and cash equivalents at the end of the period                          544.6                401.5   143.0

                                                                                                                            SZAG Investor Relations
                                           More than € 200 million cash flow from operating activities
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                                                                                                                           69
Financials

           Strip Steel Business Unit

                                                                 H1 2021       H1 2020              Δ      Q2 2021       Q1 2021

          External sales                           € million      1,198.1         902.8         295.3         591.7         606.4

          Order bookings                                  kt      2,235.3       1,834.0         401.3       1,047.7       1,187.6

          Order backlog1                                  kt      1,061.5         779.4         282.1       1,061.5       1,078.4

          EBITDA                                   € million        174.6          12.4         162.2          96.6          78.0

          EBT                                      € million        104.5         -69.2         173.7          61.4          43.1

          Core workforce1                                           5,980         6,040           -60         5,980         6,010

                                                                                                                                     SZAG Investor Relations
              Outstanding profit contribution boosted by higher shipments and selling prices at record levels towards the end of
                                                             the first half of 2021
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          1 per   reporting date                                                                                                    70
Financials

           Plate / Section Steel Business Unit

                                                                         H1 2021        H1 2020              Δ       Q2 2021        Q1 2021

          External sales                                   € million        445.5          363.2          82.3          231.1             214.4

          Order bookings                                          kt      1,101.2          965.5         135.7          576.1             525.1

          Order backlog1                                          kt        485.1          274.2         210.9          485.1             408.1

          EBITDA                                           € million          -8.5         -12.7            4.3           3.9             -12.4

          EBT                                              € million        -26.9          -27.0            0.0           -5.9            -21.0

          Core workforce1                                                   2,245          2,347          -102          2,245             2,260

                                                                                                                                                   SZAG Investor Relations
                        Gradual improvement of order activity and pricing over the course of the first half; sections with solid profit
                              contribution; recovery of the plate companies lags due to late-cyclical nature of the business
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          1 per   reporting date                                                                                                                  71
Financials

          Mannesmann Business Unit

                                                               H1 2021       H1 2020              Δ      Q2 2021       Q1 2021

          External sales                         € million        530.4         494.5          35.9         273.8         256.6

          Order bookings                         € million        880.9         497.8         383.0         468.2         412.7

          Order backlog1                         € million        555.3         347.8         207.4         555.3         448.3

          EBITDA                                 € million         16.1           8.1           8.0           8.0           8.1

          EBT                                    € million        -15.5         -22.7           7.2          -8.0          -7.5

          Core workforce1                                         4,325         4,511          -186         4,325         4,317

                                                                                                                                   SZAG Investor Relations
            Improved business situation at the precision tubes group, medium-diameter line pipes and the stainless steel tubes
                                              group also registered an increase in bookings
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          1) Tubes,   per reporting date                                                                                          72
Financials

           Trading Business Unit

                                                                      H1 2021       H1 2020              Δ       Q2 2021       Q1 2021

          External sales                                € million      1,538.1       1,229.2         308.9          864.8         673.3

          Shipments                                            kt      1,809.6       1,724.4          85.3          921.7         888.0

          EBITDA                                        € million        155.6           -5.1        160.7          107.5          48.1

          EBT                                           € million        149.3         -15.8         165.1          104.6          44.7

          Core workforce1                                                1,936         1,990            -54         1,936         1,931

                                                                                                                                           SZAG Investor Relations
                  Very gratifying pre-tax profit as a result of the dynamic price development, along with favorable purchase prices in
                                                     the stockholding business and at the UES Group
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          1 per   reporting date                                                                                                          73
Financials

           Technology Business Unit

                                                                  H1 2021       H1 2020              Δ       Q2 2021       Q1 2021

          External sales                            € million        639.3         574.6          64.7         338.4          300.9

          Order bookings                                   kt        748.7         558.4         190.3         390.7          358.0

          Order backlog1                                   kt        819.6         618.2         201.4         819.6          734.3

          EBITDA                                    € million         45.6           4.5          41.2           13.8          31.8

          EBT                                       € million         32.5         -10.6          43.0            7.4          25.0

          Core workforce1                                            5,328         5,504          -176         5,328          5,353

                                                                                                                                       SZAG Investor Relations
              KHS Group’s pre-tax result significantly outperformed the year-earlier figure also due to accounting profit achieved
                   by selling the pouch business; KDE Group also with profit contribution, slightly negative result of KDS
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          1 per   reporting date                                                                                                      74
Financials

           Industrial Participations / Consolidation

                                                                              H1 2021        H1 2020               Δ     Q2 2021         Q1 2021

          External sales                                        € million         84.1           66.7          17.5          41.6           42.5

          EBITDA                                                € million         95.1           42.5          52.6          45.9           49.2

          EBT                                                   € million         61.8           17.4          44.4          28.8           33.0

          Core workforce1                                                        2,600         2,617            -17         2,600          2,604

                                                                                                                                                    SZAG Investor Relations
                                   Pre-tax profit includes € 91.0 million contribution of Aurubis AG, an investment included at equity
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          1 per   reporting date                                                                                                                   75
BACKUP
          1 Financials
          2 Pensions
          3 Investor Relations

                                 SZAG Investor Relations
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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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                                                                                                                                                77
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 1.40%1                                                                                                         € 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 1 per March 31, 2021, before that 1.10%                                                                78
BACKUP
          1 Financials
          2 Pensions
          3 Investor Relations

                                 SZAG Investor Relations
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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 1Q 21
              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
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                                                                                                                                                                   80
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
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          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
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          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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