Bekaert : Presentation slides of the Q1 2024 trading update

Q1 Trading Update

8 May 2024

Safe harbor

This presentation may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Bekaert is providing the information in this presentation as of its date and does not undertake any obligation to update any forward-looking statements contained in it, in light of new information, future events or otherwise. Bekaert disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other publication issued by Bekaert.

2

Agenda

1	Introduction and highlights
Yves Kerstens, CEO

2	Financial review
Taoufiq Boussaid, CFO

3 Outlook

Yves Kerstens, CEO

4 Q&A

Yves Kerstens

CEO

Taoufiq Boussaid

CFO

3

Introduction and highlights

4

Solid start to the year, in line with full year expectations

Sales of €1,025m in Q1 2024:

• Down 14% vs Q1 2023 - strong comparison period which benefited from higher priced-in raw material and energy costs, customer restocking in China and FX
• Up 5% vs Q4 2023

Management focused on strategy delivery

• Successfully ramping up growth businesses
• Pricing discipline and business selection in core businesses
• Continued focus on cost efficiencies and effective working capital management
• Delivering further margin improvements and strong cash flow generation

Q1 performance remains in line with FY expectations

• Management remains confident in its FY2024 and mid-term targets

5

Strategic developments in Q1 2024

Recycled-steel tires		Nautical SUNRISE project		TAILWIND project

Goodyear unveiled a tire comprised of 90% sustainable materials using Bekaert recycled steel tire cord

Solar Impulse Foundation

Our porous transport layer technology Currento® received the Solar Impulse Efficient Solution label

Bekaert will provide innovative mooring solutions for world's largest offshore floating solar power plant

Solutions for telecommunications

Our innovative messenger and guy strand product met the Buy America guidelines set by the NTIA1

Bekaert joined the TAILWIND project for its expertise in offshore mooring systems, including synthetic ropes

Steel circularity

Bekaert Recycled Content Standard sets the benchmark within the industry for transparency in steel circularity

1 NTIA: National Telecommunications and Information Administration	6

Driving growth and expansion of our Sustainable Solutions portfolio

65%1

50%1

42%

2023 2026 2030

% Sales from Sustainable Solutions

Multipleend-markets	Construction Decarb.		Energy Transition	Lifting& Mooring
ST/UT tire cord		Dramix®		Currento®		Synthetic ropes

Higher tensile strength		Up to 50% less steel and		Critical element for green		Synthetic mooring ropes for
improving fuel efficiency		25% less concrete		hydrogen production		floating offshore wind (FOW)
Bezinal® coating		SigmaSlabTM		Armofor®		Flexisteel®

Active corrosion protection		Dramix® steel fibers & CCL's		Solution for energy	Energy-efficient elevator
Increasing product lifetime		post-tensioning combined		transportation	rope
Recycled-steel		Murfor® Compact		Bezinox®		VisionTek

Tire reinforcement using	Sustainable masonry	Non-magnetic armouring wire	Asset health and condition
recycled steel content	reinforcement	for subsea power cables	performance monitoring

7

1 EU Taxonomy-aligned turnover

Financial review

8

Consolidated sales bridge

Sales in line with expectations amidst lower volumes and phasing out of previous wire rod price increases

in millions of €

410

1,194

1,025

* Includes energy costs.	9

Consolidated sales Q1 2024

Challenging demand environment in line with expectations

Consolidated Sales	Variance (%)
(in millions of €)	Price-mix + Volume = Organic + FX	=	Growth

	1,194	1,025	-14.1%	-7.5	-4.9		-1.7
		-12.4
				-14.1
Rubber Reinforcement	539	447	-17.0%	-8.2	-6.0		-2.8
	-14.2
							-17.0
							0.3
Steel Wire Solutions	327	282	-13.9%	-9.3	-4.9
		-14.2		-13.9
Specialty Businesses	173	165	-4.8%	n/a*	n/a*	-3.1	-1.7	-4.8
	152			6.0
Bridon-Bekaert Ropes Group	130	-14.8%				-1.9
					-19.0	-12.9	-14.8
	Q1 2023	Q1 2024

* n/a: In this BU, there is a broad range of non-comparable units including KG, pieces, m².	10