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Investor Presentaiton

Mid-term growth roadmap Executing well defined growth roadmap even during COVID-19 pandemic; In commercial operations at 1st China plant (Jiangsu) and completed construction of 2nd plant (Henan); Driving progress on the integration of AZR and related synergies 1 HEDGING Indicative earnings €198m Accelerating growth 2 2021/22 Managing variability 3 2021+ 2021+ 2021 Hedging Organic growth China US Mid-term business Note: Chart is illustrative and size of respective arrows in the chart is not indicative to the underlying growth potential 8 Company Presentation - April 2022 • Hedge book extended up to Jan'25, c.3 yrs • Providing increased earnings and cash flow visibility 2 ORGANIC GROWTH Top 5 projects: • Steel Dust: Turkey expansion: Completed Korea washing: Completed Aluminium Salt Slags: ✓2 tilting furnaces (Spain): Completed 3 CHINA EXPANSION First two EAFD recycling plants in provinces of Jiangsu and Henan plan 4 US/AZR ACQUISITION Integrating four EAFD recycling plants acquired from AZR and realising near- and mid-term synergies BEFESA
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