GENERAL SHAREHOLDERS MEETING ACERINOX Business Year 2012 Madrid, - PowerPoint PPT Presentation

GENERAL SHAREHOLDERS’ MEETING ACERINOX Business Year 2012 Madrid, June 5th 2013

ACERINOX EUROPA FACTORY

NORTH AMERICAN STAINLESS FACTORY

COLUMBUS STAINLESS FACTORY

BAHRU STAINLESS FACTORY

ROLDAN FACTORY

INOXFIL FACTORY

GEOGRAPHICAL DISTRIBUTION OF ACERINOX NET SALES Year 2012 Europe 37.2% Oceania 0.5% Africa 6.3% Americas Asia 49.0% 7.0%

STAINLESS STEEL STRIP

OFF-SHORE OIL PLANT MADE OF STAINLESS STEEL

COOKING SCHOOL KITCHEN MADE OF STAINLESS STEEL

SCRAP AND FINISHED PRODUCT

MELTING SHOP

PORT FACILITIES, ALGECIRAS BAY

HOT ROLLING

COMMERCIAL NETWORK Service Centers 19 Warehouses 28 Offices 21 Commercial Agents 14 Factories 6

STAINLESS STEEL WORLD PRODUCTION Thousand Mt. 46,0% 35,000 30,000 25,000 3.8% China 20,000 Asia w/o China Americas 15,000 Europe + Africa 10,000 5,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

NICKEL BRIQUETTES

STAINLESS STEEL HOUSEHOLD APLLIANCES

STAINLESS STEEL HOUSEHOLD APPLIANCES

EUROPEAN CONSOLIDATION I N O X U M A P E R A M O U T O K U M P U A C E R I N O X Melting Shop Factory w/o melting shop

ACERINOX EUROPA, CAMPO DE GIBRALTAR FACTORY

STAINLESS STEEL WORLD PRODUCTION Thousand Mt. 36,000 34,000 2012 Stainless Steel World 32,000 30,000 Production: 28,000 26,000 35.4 million Mt 24,000 22,000 20,000 Compound annual growth 18,000 16,000 rate 14,000 1950 - 2012: 12,000 10,000 8,000 + 5.9 % 6,000 4,000 2,000 0 50 60 70 80 90 00 10 12 Source: VALE INCO & ISSF

EVOLUTION OF THE STAINLESS STEEL WORLD PRODUCTION Million Mt. Year 2008 Year 2009 Year 2010 Year 2011 Year 2012 8.6 8.3 8.2 6.7 8.2 24.8 22.8 20.3 15.9 15.0 2.5 2.3 2.0 2.6 2.4 +26.4% -5.1% +8.1% +5.2% 25.9 24.6 31.1 33.6 35.4  Europe and Africa  Asia  Americas Source: ISSF

APPARENT CONSUMPTION % Variation over 2011 Europe -3.1% United States Asia +8.8% +2.4% South Africa +8.0%

OFFICIAL NICKEL PRICE IN THE L.M.E. [ 2011 - 2012 ] Average price: cash / three months (USD/Mt. Ni.) 35,000 30,000 25,000 20,000 15,000 2011 2012 10,000 5,000 0 J F M A M J J A S O N D J F M A M J J A S O N D

RAW MATERIALS PRICE IN THE L.M.E. Year 2012 Daily values (US$/Mt. 3 months) 2,500 2,500 25,000 10,000 2,250 2,250 22,500 9,000 20,000 8,000 2,000 2,000 17,500 7,000 1,750 1,750 15,000 6,000 1,500 1,500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Aluminium Nickel Copper Zinc

PRODUCTION OF ACERINOX Year 2012 ACERINOX Variation over Flat Product [Mt] NAS COLUMBUS BAHRU TOTAL EUROPA 2011 676,034 1,008,516 504,531 2,189,081 8.3% MELTING SHOP HOT ROLLING 568,949 853,175 492,786 1,914,910 7.6% COLD ROLLING 431,400 664,435 265,775 56,482 1,418,092 11.6% Variation over Long Product [Mt] ROLDAN NAS TOTAL 2011 HOT ROLLING 90,388 131,161 221,549 13.5% FINISHED PRODUCTS 84,287 123,043 207,331 8.5%

MAIN FINANCIAL FIGURES OF ACERINOX 2012 2011 Variation Net Sales 4,554.69 4,672.24 -2.5% EBITDA 197.60 340.51 -42.0% Results after Taxes and Minorities -18.33 73.73 --- Net Financial Debt 581.54 886.60 -34.4% Net Financial Deb / EBITDA 2.94 2.60 13.0% Net Financial Debt / Equity 33.9% 47.1% -28.0%

EVOLUTION OF THE STOCK EXCHANGE MARKET - ACERINOX & IBEX 35 Daily percentage data, year 2012 Acerinox Ibex 35 0,35 0,35 0,35 0,35 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

EVOLUTION OF THE INVENTORIES OF ACERINOX 2007 - 2012 2007 2008 2009 2010 2011 2012 D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 0% -5% -10% -15% -20% -25% -30% -35% -40% -45% -50%

NET FINANCIAL DEBT OF THE CONSOLIDATED GROUP Million Euros 1,400 1,254 1,200 1,075 1,084 939 1,000 923 887 829 800 655 674 582 600 400 200 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

CURRENT CREDIT LINES IN ACERINOX GROUP December 2012 Syndicated Loan: 482 million USD Used credit facilities Available credit facilities

RETURN TO SHAREHOLDERS Euros / Share 0.55 0.50 0.48 0.45 0.45 0.45 0.45 0.45 0.40 Attendance Bonus AGM 0.35 0.30 Issue Premium Refund 0.25 0.20 Dividend 0.15 0.10 0.05 0.00 08 09 10 11 12

STRATEGIC PLAN 2008 – 2020  GENERATIONAL TRANSITION PLAN  GROUP CULTURE  MODERN STRUCTURE  EXCELLENCE PLANS  GLOBAL EXPANSION

INVESTMENTS OF THE CONSOLIDATED GROUP Million Euros 2012 2011 Acerinox, S.A. 0.2 0.4 Acerinox Europa 41.3 22.8 NAS 17.6 17.0 Columbus 7.7 11.5 Bahru Stainless 139.6 104.0 Roldan and Inoxfil 1.3 9.6 Spanish Trading Companies 0.1 0.1 Overseas Trading Companies 1.4 3.9 Total 209.1 169.3

COMMERCIAL NETWORK Service Centers 19 Warehouses 28 Offices 21 Commercial Agents 14 Factories 6

BAHRU STAINLESS FACTORY

BAHRU STAINLESS: TECHNICAL ASSISTANCE

BAHRU STAINLESS – COMMERCIAL EXPANSION Offices Commercial Agents

FIRST COIL PROCESSED IN THE ANNEALING AND PICKLING LINE AP 2

EXCELLENCE PLAN Excellence Plan I Excellence plan II Excellence plan III 2009 - 2010 2011 – 2012 2013 – 2014  10 chapters  15 chapters  16 chapters  Internal benchmarking  Internal benchmarking  Internal benchmarking  Realistic targets  Realistic targets  Realistic targets (including part of (including part of Excellence I) Excellence I and II)  Recurrent savings:  Recurrent savings:  Recurrent savings: 133 million €/year 90 million €/year 60 million €/year  Result: 73% (97  Already reach: 59% (53 million €) million €)

PROCESSING LINE

RESEARCH AND DEVELOPMENT

PORT FACILITIES, ALGECIRAS BAY

START UP OF THE INTERNAL TRAINEE PROGRAMS

ENVIRONMENTAL COMMITMENT G l o b a l R e p o r t i n g C a r b o n D i s c l o s u r e I n i t i a t i v e ( G R I )

2013 SUSTAINABILITY AWARD

INTERNACIONAL RECOGNITION OF ACERINOX Mr. Felipe de Borbon presents to Acerinox the “Award for the International Career of the Spanish Company ” (Círculo de Empresarios, January 2012) Acerinox receives the “Trade & Innovation Award” for its expansion in the US (AmChamSpain, September 2012)

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