Based on the still preliminary figures now available, the Salzgitter Group recorded external sales of € 2.3 billion (Q1 2025: € 2.3 billion), EBITDA VX of € 280 million  (Q1 2025: € 79 million) and EBT VX of € 179 million (Q1 2025: € –27 million). The strong result is essentially attributable to the contribution of € 147 million (Q1 2025: € 48 million) from the participating investment in Aurubis AG included at equity (IFRS accounting). Along with the expected share of operating profit, this contribution was positively impacted by the high valuation effects from metal price fluctuations in particular. In addition, the Steel Production and Trading business units, as well as the Technology Business Unit, reported improved results. Accordingly, the Salzgitter Group’s EBITDA VX and EBT VX significantly outperformed capital market expectations for the first quarter of 2026.

In view of the manifold geopolitical uncertainties, forecasting reliability, along with the economic development going forward and the valuation of listed assets, is extremely restricted. The government’s planned investment and infrastructure programs have not yet resulted in marked economic recovery. We nevertheless anticipate positive stimulus from the EU’s trade defense measures over the course of the year. All in all, we continue to expect an only moderate improvement in the economic environment and currently anticipate the following for the Salzgitter Group in the financial year 2026:

• sales of around € 9.5 billion (previously: around € 9.5 billion),

• EBITDA VX of between € 625 million and € 725 million (previously: between € 500 million and € 600 million),

• EBT VX of between € 200 million and € 300 million (previously: between € 75 million and € 175 million), and

• a return on capital employed VX that is slightly higher year on year (ROCE VX; previously: marginally above the year-earlier level).

This guidance has not factored in the effects of the possible implementation concerning the key components published on February 6, 2026, on the continuation of Hüttenwerke Krupp Mannesmann GmbH under the sole responsibility of Salzgitter AG.

As the valuation of the exchangeable bond placed in October 2025 may result in non-operational and on occasion significant fluctuations in earnings, guidance for the Group as from the financial year 2026 will be based on adjusted key performance indicators. In calculating EBT VX (Earnings before Taxes and Valuation Exchangeable) and EBITDA VX (Earnings before Interest, Taxes, Depreciation, Amortization and Valuation Exchangeable), as well as ROCE VX (Return on Capital Employed), the earnings effects in connection with the valuation of the exchangeable bond will be eliminated.

Further details on the financial statements for the financial year 2026 will be published on May 12, 2026, as scheduled.

2312296  21-Apr-2026 CET/CEST