Aperam : 11/04/2020 - Roadshow Presentation - Third quarter 2020 results

Q3 2020 results

4 November 2020

ESG leader with a sustainable dividend yield

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Disclaimer

Forward-Looking Statements

This document may contain forward-looking information and statements about Aperam and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "target" or similar expressions. Although Aperam's management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Aperam's securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of Aperam, in particular, the length and severity of the recent COVID-19 (coronavirus) outbreak, including its impacts in the sector, macroeconomic conditions and in Aperam's principal local markets, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in Aperam's filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier). Aperam undertakes no obligation to publicly update its forward-looking statements or information, whether as a result of new information, future events, or otherwise.

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Content

1.	Q3 2020 highlights	page	4
2.	Financial results	page	11
3.	Value Strategy	page	16
4.	ESG		page	25
5.	Business Overview	page	38
	• Group Segments & corporate structure	page	39
	• Stainless & Electrical Steel Europe	page	45
	• Stainless & Electrical Steel South America	page	50
	•	Services & Solution	page	56
	•	Alloys & Specialties	page	59
	•	Appendix	page	63
				Musée des Confluences in Lyon, France. Architect: Coop Himmelb(l)au ©

Sergio Pirrone. Stainles steel used: Aperam 316L/1.4404 with Uginox Met

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Q3 2020 Operational highlights

Solid results driven by rebounding volumes and tight cost control

Q3 2020 key developments

Strong volumes supported by our flexible multi-product business in Brazil and the recovery in Europe

Intense pricing pressure in Europe

Solid EBITDA and FCF via tight cost control & working capital management

Good Leadership Journey© progress. EUR13m gains* in

Q3 (cum. total EUR184m) - Phase 4 has been outlined

EU launched anti-dumping investigation on cold-rolled imports from Indonesia & India (25% of Q3 CR imports)

2020 SBB revoked due to prolonged COVID recession

3.7m shares from 2019 SBB were cancelled in September

Aperam delivers a solid performance in a challenging market environment

* Annualized gains

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