Guido Kerkhoff outlines strategic way forward for ThyssenKrupp

Global Steel & Mining Conference 2012 Credit Suisse
London September 19, 2012 Guido Kerkhoff, CFO
Agenda
{ { {
Key Figures, Group Outlook and Strategic Way Forward Business Area Performance Appendix
Credit Suisse Global Steel & Mining Conference London September 19, 2012
Developing the future.
Q3 2011/12 Highlights Continued Operations

Order intake (in m)
{
not consolidated -12% qoq
Capital Goods order intake: underlying trend solid Record level at Elevator Technology Yoy decline at Marine Systems due to big ticket order in Q3 prior year Materials order intake: decline price- & volume-driven Group EBIT adj. on similar level qoq 6 of 7 BAs positive, 5 with qoq improvements except Steel Americas: inv. writedowns, FX, fuel rate Marine Systems: normalized earnings NFD reduction 1.0 bn FCF from contd ops. Value crystallization by Waupaca divestment Strategic review Steel Americas in progress Further divestments: Construction (SE), Berco (CT) FY outlook confirmed
12,984
MS
-21% yoy
11,596
10,231
7,483 6,383
7,195 5,064
not consolidated -9% qoq
6,159 4,691
{ {
EBIT adjusted (in m) 570 281 485

-79% yoy
134 453 (108)

Group
122 444 (118)
{ { { { { {
Capital Goods
Materials
NFD (in m) 6,249 Q3 2010/11 6,480 Q2 2011/12 5,800 Q3
Economic Uncertainty Weighing on Orders, Cap Goods Underlying Solid

Order intake continued operations (million )
Group
~2 bn submarine order from Turkish Navy
-21% yoy
-12% qoq
12,984
11,596
10,231
Book-to-bill: >1
MX
3,973
2,155 MS
3,573 731 3,235 456 1,828 413
AM
504
1,811
CT
632
1,858 934
SE
3,006
1,097 PT 1,320 ET
832 2,511 1,575
ET: record order intake in Q3 driven by new inst. in China, India and the US PT: project delays at chemical plants CT: strong auto-related order intake yoy compensating slowdown of industrial comp. businesses MS: big ticket order in Q3 prior year SE and MX: lower volumes qoq and yoy
2,990 1,541 Q2
Q3 2010/11
not consolidated
Q3 2011/12
EBIT Solid Contribution from Capital Goods, Materials ex AM Positive

EBIT adjusted continued operations (million )
Group
261
435
570
495
83
134
-9%
122
Capital Goods
Capital Goods margin
451
Materials margin (excl. Steel Americas)
484 281 144
485 444 205 409 453 444
Materials
Materials margin
not consolidated
(35)
Q1 Q2 2010/11 Q1 Q2 2011/12 Q3 Q3 Q4
(146)
(108)
(118)
All Continued Operations with Positive EBIT Performance (Except AM)

EBIT adjusted (million ); EBIT adjusted margin (%)
9.2
SE
322
1.0
11.6 1.8
10.0
10.3
151
30
52
132
147
ET
AM
13.9
11.7
13.6
(190)
(228)
(262)
131
115
140
PT
3.7
MX
149
2.6
2.7
7.9
6.8
7.2
90
92
141
128
134
CT
0.0
1.1
35.5 12.9
SG*
19** (21)**
(1.3)
62
78
7.8
23 Q3 2011/12
MS
Q3 2010/11
Q2
Q3 2011/12
Q3 2010/11
Q2
* Inoxum ** Q2 and Q3 2011/12 EBIT excl. regular depreciation charges of 48 m and 49 m respectively
Steel Americas Underlying Progress in a Challenging Business Environment Diluted by Inventory Writedowns and Translation Effects
EBIT adjusted Q3 (190) (378) (319) (184) (288) Q2 (228) contd challenging business envt revenue/ FX/ cost volumes other mix Q3 in m
(262)
esp. ~(30) m inventory esp. ~(50) m translation writedowns at CSA; effect related to BRLinefficient bf operations, based sales tax credits, high fuel rate, low PCI ~30 m compensation payments
Q4 et seqq.: Focus on completion of technical ramp-up subsequent optimization certification processes and increasing exposure to premium segments in parallel with Strategic Review
2010/11
Scrap xxx and HRC price development
2011/12
in USD/t BRL/USD
1,000 800 600 400 200
HRC
1,000 800 600
3.00 2.50 2.00 1.50 1.00
Sig. depreciation of BRL vs USD during fiscal Q3
3.00 2.50 2.00 1.50
scrap 10 J A J O 11 J A J O 12 J A J
400 200
05 06 07 08 09 10 11 12
1.00
Source: SBB: Scrap #1 Busheling, HRC N. America domestic

Elevator Temporary Margin Dilution by Regional Development

Sales split/growth Elevator by region
Sales, bn Growth Asia/ Pacific Americas
Development by region, Operating Units

{ Americas: normalization of NI margins
Sales and margin, Operating Units

Americas
Margin % Sales
4.7 10% 43%
5.3 18% 40%
+12% +102% +4.9%
(past construction boom years)

{ SEAME: Southern Europe (e.g. Spain)
with low NI demand, competitive pricing

{ Asia/Pacific: strong NI growth China: increase number of branches
06/07 07/08 08/09 09/10 10/11 11/12E
SEAME (incl. Spain)
47% 06/07
Europe
42% 10/11
+0.8%
by >50% by 2015 India: new multi-purpose facility under construction Order intake Elevator on record level
Order intake, bn ytd (9M 11/12): China +42% India +18% Americas +21% 5.1 5.3
despite recent decline, margins still above Elevator average
06/07 07/08 08/09 09/10 10/11 11/12E
Restructuring in Europe and the US

{ Headcount reduction Spain and US
Temporary lower Elevator margin

EBIT adj. in m Margin %
before 2012 (US -1,300; Spain -300 employees) { Restructuring in 2012: Efficiency gains in manufacturing processes Alignment of structure to changed market conditions (Southern Europe -300 employees) Total restructuring expenses in 2011/12: 50 m { Additional measures in preparation
646
641
12.5
12.2
mid-term target: 15%
06/07 07/08 08/09 09/10 10/11 11/12E
06/07
07/08
08/09
09/10
10/11
11/12E
Cash Flow Profile with Significant QoQ Improvement

OCF continued operations (million )
9M
Capex continued operations (million )
(396)
(526)
1,782 1,197
843 150 Q3 2010/11 Q2 2011/12
902
463 Q3 2010/11
406 Q2 2011/12
325 Q3
Q3
FCF continued operations (million )
Net financial debt incl. discont. ops. (million )
(2,032)
(988) 1,013
387 (268) Q3 2010/11 Q2 2011/12 Q3
6,249
6,480
5,800
Q3 2010/11
Q2 2011/12
Q3
Effective Cash Control Already Leading to Improvements

FCF from continued operations (billion )
and substituting for disproportionate year-end measures!

1.4 0.9 1.2
0.9
0
1.0
FCF Group
0.1 (0.7)
0.4
excl. Steel Americas
(0.3) (0.7)
(0.8) (0.5) (0.5) (0.3) (1.2) (0.5)
(0.2)
FCF Steel Americas FCF Group
(1.0)
(1.7)
Q1 Q2 2010/11 Q3 Q4
(1.7)
Q1 Q2 Q3 2011/12 Q4E
Solid Financial Situation

Liquidity analysis and maturity profile of gross financial debt as of June 30, 2012
(million )
7,283
Cash and cash equivalents
3,101*
Total: 8,901
Available committed credit facilities
4,182
2,005 710
4th Quarter 2011/12 8% 2012/13 22%
1,746 973
1,979 1,488
2013/14 20%
2014/15 11%
2015/16 17%
after 2015/16 22%
* incl. securities of 6 million

10
Additional Cost Measures Complementing Stringent Cash Control

(Performance + Portfolio)
Steel Europe/ Steel Americas
Short-time work (~2,200 empl.) Reduction of leased labor Temporary idling of BF 9 Cost-cutting programs (M&R, SG&A)
Materials Services
Hiring freeze Headcount reduction (~200 employees across Europ. activities) Reduction of leased labor by ~300 employees Cost-cutting programs (SG&A)
Components Technology
Headcount reduction (mainly in Brazil, Italy & Asia) Employee flexibilization / shift adjustments Cost-cutting programs
Elevator Technology
Headcount reduction (~500 employees e.g. in Southern Europe, UK, Russia) Production process optimization (e.g. Germany) Cost-cutting programs
Plant Technology/ Marine Systems

PT: Headcount reduction (mainly in Thailand, Mexico, Australia) PT & MS: Employee flexibilization possible
Corporate
Hiring freeze Cost-cutting programs (e.g. travel, events, advertising, facilities services, fleet mgmt) Project revision
+
TK synergize+ (Strategic Purchasing Program)
11
Outlook FY 2011/12 Continued Operations

Group FY 2011/12
{ { {
EBIT adjusted in mid three-digit million euro range Capex max. 2 bn NFD: around the same level as in Q3 Business Areas
EBIT adjusted, in million
Q3 52 (262) 92 147 140 134 23
Q4E
Flat Improvements from ramp-up, but offsetting headwinds from US trading conditions Flat Potential headwinds from trading conditions in Southern Europe Broadly flat Absence of Waupaca earnings contribution and lower capacity utilization (slewing bearings) Flat
Steel Europe Steel Americas Materials Services Elevator Technology Plant Technology Components Technology Marine Systems
12
ThyssenKrupp Strategic Way Forward

% ~90 leted p com
Portfolio Change Performance + + Optimization Management Orientation

Exit Non-Core Businesses Leadership & Culture
{ { {
Strategic Push
Grow Core Businesses
+ Stabilization
Financing Capacities
{ { {
Financial
Profit & Cash Improvement

{
Company Positioning Additional

{ { { { {
Ongoing clos ed { Metal Forming clos { Xervon ed clos ed { Civil shipbuilding Stainless Global Waupaca closed Tailored Blanks carv Bilstein-Group ed-o u Bilstein-Group c
sign ed
Leadership Transparency Mission Statement Regional development Innovation People
Continuous benchmarking Sales growth (price and volume) Cost & cash control Increase capital efficiency Ramp-up & Strategic review Steel Americas
Expand market position Smaller acquisitions: Technologies & Services Increase R&D spending
Positive FCF Reduce NFD InvestmentGrade Dividend
(Springs & Stabilizers) t {

lose (Auto Systems Brazil) d
Strategic development { Bilstein-Group { Presta Steering
Strategic review Steel Americas in progress Further divestments:

Construction Berco
(Steel Europe)
(Components Technology)
13
Agenda
{ { {
14
Steel Europe Q3 2011/12 Highlights

Order intake in m Shipments in 1,000 t
rev/t indexed (Q1 2004/05=100)
EBIT in m; EBIT adj. margin in %

9.2
EBIT
8.3
EBIT adjusted
140
146
147
136
138
3,006 2,688 2,705
2,990 2,511
3,431 3,018 2,580
322 3,289 3,196 253
4.0
30 102 21
52
1.0
1.8
47
Q3 2010/11
Q2 2011/12
Q3
Q3 2010/11
Q2 2011/12
Q3
Q3 2010/11
Q2 2011/12
Q3
Inventories Premium product and Months mix asof basis Supply for sustainable Europe differentiation
in % of sales; FY 2010/11
Current trading conditions

{
Hot Strip Medium-wide Strip 8 Heavy Plate 7 Cold Strip

8 15
Tailored Blanks Construction Elements

62 12
Tinplate Electrical 8 Steel Coated Products (HDG, EG, Color)
34
EBIT improvement in fiscal Q3 as lower shipments were compensated by higher revenues/t; solid FCF generation Expectation fiscal Q4: volume and price development reflecting contd intense competition; sequentially lower volumes set against higher revenues/t Introduction of short-time working from August 2012 following weak orders
15
Steel Americas Q3 2011/12 Highlights

Order intake in m Production & shipments in 1,000 t 880 852 786 914 800 Slab production CSA
632 583 504 437 413
EBIT in m EBIT
(190) (184)
EBIT adjusted
(288) (228) (230)
Q3 2010/11 Shipments Steel USA 403 421 Q3 2010/11
Q2 Q3 2011/12 777 636 622 Q3 Q2 Q3 2011/12
(262) (263)
(2,258)
Q2 2011/12
Q3
Q3 2010/11
Q2 Q3 2011/12
2010/11
xxx Certification processes with good progress

{
Higher losses reflecting translation effect related to R$based sales tax credits, inventory writedowns, inefficient blast furnace operations with higher fuel rate and lower share of PCI and contd challenging business environment impacted by falling scrap and steel prices; partly cushioned by compensation payments Certification processes with good progress at all 10 major auto OEMs in North America and for more than 100 products; 20% of approvals already received
16
Materials Services Q3 2011/12 Highlights

Order intake* in m
*thereof materials warehousing business ~ 60%
Materials warehousing shipments in 1,000 t
EBIT in m; EBIT adj. margin in % EBIT

149
EBIT adjusted
136 81 40
90 74
92
3,973
3,618 3,201
3,573
1,440 3,235
1,387 1,254 1,423
1,413
3.7
3.6
1.3
2.6
2.7
(42)
Q3 2010/11
Q2 Q3 2011/12
Q3 2010/11
Q2 Q3 2011/12 Current trading conditions

{ { { {
Q3 2010/11
Q2 2011/12
Q3
Business model with high degree of independence Independence from single Independency from single products
products
Independence from single Independency from single industries
Broad range of ferrous and o Broad range of ferrous and non non-ferrous materials ferrous materials complemented complemented byand related by related processing logistics processing and logistics
industries
Broad range of industries o Broad range of industries served served
Limited risks due to degree of independence Service orientation (processing, logistics) paying off
Solid EBIT development supported by strict cost mgmt Fine of 103 m for rail cartel case; 30 m provisions for ongoing investigations Competitive environment, high material availability, price softness Customers continuing to act very cautiously Inventories still at moderate levels
17
Elevator Technology Q3 2011/12 Highlights

Order intake in m
9M: 4,582
Record level
Units under Maintenance

>1m ~800,000
EBIT in m; EBIT adj. margin in % EBIT EBIT adjusted

12.4
332 172 151 113
9M: 3,984
11.6
1,320
1,466 1,297
1,541
1,575
10.5
142
10.0
132 118
10.3
147 134
Q3 2010/11
Q2 2011/12
Q3
04/05
11/12
Q3 2010/11
Q2 2011/12
Q3
China: Multi-brand approach for broader market coverage

NI market segments High End Mid Latest Technology 2nd Brand Proven Technology 3rd Brand Minority JV New Product Multi-brand approach

{ NI demand: strong growth in Asia/Pacific (total order intake 9 months: { { { {
Value End
China +42%; India +18%), demand Americas close to pre-crisis level Modernization in Europe and North America with good demand Maintenance portfolio growing constantly Restructuring in Europe (e.g. Spain and Germany) progressing; total amount in FY 2011/12: 50 m Yoy decline in EBIT adj. and EBIT adj. margin due to: normalization of NI margins in US weak demand and pricing in Southern Europe
18
Plant Technology Q3 2011/12 Highlights

Order intake in m
9M: 3,009 9M: 2,637
Order backlog in bn

13.9
EBIT adjusted
13.3 10.8 11.7
140 129 125 115 114
13.6
1,466 1,097 871 934 832
6.4
6.6
6.6
6.5
6.3
131
Q3 2010/11
Q2 2011/12
Q3
Q3 2010/11
Q2 2011/12
Q3
Q3 2010/11
Q2 2011/12
Q3
Major order intake Q3 2011/12

{ {
Bodyshell line: Largest order in history of System Engineering Order value: ~ 85 m Commissioning: 2014
{ { {
{ {
(Picture shows comparable project)
Again good demand from the minerals & mining and the automotive industries, project delays at chemical plants Increased interest in fertilizer plants in the US due to decreasing gas prices Order backlog to secure ~18 months of sales Acquisition of UK based Energy & Power Global Limited in order to strengthen the chemical engineering capabilities in the global oil and gas business
19
Components Technology Q3 2011/12 Highlights

Order intake in m Quarterly order intake auto components Q3 2011/12: still ~20% above pre-crisis level (average of FY 2007/08)
1,858 1,713 1,778

7.9 6.9 6.8 5.9
161 121 169 103 128
EBIT adjusted
7.2
459 134
1,811
1,828
141
Q3 2010/11
Q2 2011/12
Q3
Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 2007/08 2008/09 2009/10 2010/11 2011/12
Q3 2010/11
Q2 2011/12
Q3
Closing of Waupaca sale to KPS Capital Partners

{

{
{ { {
Largest global producer of gray, ductile and compacted graphite iron castings for the automotive, agricultural and construction industries Sales (FY 2010/11): ~ 1.1 bn Closing on June 29, 2012 resulting in a disposal gain of more than 300 m Q4 2011/12 results already excluding Waupaca with a mid triple-digit impact on sales and a low double-digit impact on EBIT
Stable order intake and sales qoq and yoy due to ongoing strong demand from the automotive industry (especially in the US) compensating weaker demand for industrial components (mainly in China) Increase of EBIT margin adj. in Q3 to 7.2% including ramp-up costs for new plants in Asia and R&D costs for new products Divestment of Berco initiated
20
Marine Systems Q3 2011/12 Highlights

Order intake in m
~2 bn submarine order from Turkish Navy
Order backlog in m
Record level
EBIT in m; EBIT adj. margin in % EBIT EBIT adjusted

35.5
78
2,155 731 456 247 222 6,958 6,532 6,397 6,990 6,826
12.9
62
7.2
21
10.7
(116)
39
61
23
7.8
Q3 2010/11
Q2 2011/12
Q3
Q3 2010/11
Q2 2011/12
Q3
Q3 2010/11
Q2 2011/12
Q3
Major order intake Q3 2011/12

{ { { {
Submarine class Dolphin
Customer: Israeli Navy Order intake Q3: ~ 400 m Delivery: 2017 Overall contract includes 2 more submarines currently being constructed. Earlier contract comprised 3 submarines already in use (see picture).
Contract with Algeria (frigates) signed, order intake expected in Q4 2011/12 Order backlog at record level securing ~4.7 years of sales EBIT adjusted returns to normalized level
21
Discontinued Operation: Stainless Global Q3 2011/12 Highlights

Order intake in m Shipments in 1,000 t (hot- and cold-rolled)
transaction price/t indexed (Q1 2004/05=100)
EBIT in m; EBIT adj. margin in %

EBIT SL USA
(29) 111 110 0
(44) (51)
(51) (56)*
(31) 19*
(54) (21)*
129 1,618 1,372
116
107
1.1 (3.0) (1.3) (3.9)

(321) (303) (145)
1,412 1,360
533 1,291 460 457 467 476
0.0
Q3 2010/11
(Jan 08=100%)
%
Q2 2011/12
Q3
* Q1, Q2, Q3 2011/12 EBIT excl. regular depreciation charges of 46 m, 48 m and 49 m respectively
Q3 2010/11
Q2 Q3 2011/12
(851) Q3 2010/11
Q2 2011/12
Q3
Nickel price development & monthly order intake (EU 29)

Order intake EU29 (cold-rolled) Nickel Long-term average of order intake (2004-2011)

{
US$/t
100 80 60 40 20 0
Jan- May Sep Jan- May Sep Jan- May SepJan- May SepJan- May 08 09 10 11 12
Source: Eurofer; CRU June 2012, Metalprices (NICKEL) June 2012 Credit Suisse Global Steel & Mining Conference London September 19, 2012
40,000 30,000 20,000 10,000 { 0

{ {
Decrease in order intake qoq due to weak market conditions (economic uncertainty, declining nickel price, destocking), but German end customers still showing robust demand Decreasing average transaction prices qoq, lower alloy surcharges driven by weak nickel price Special items of (124) m, mainly (59) m impairment charges from Inoxum transaction & restructuring provision of (63) m EBIT Stainless USA: (54) m
22
Agenda
{ { {
23
Financial Calendar FY 2011/12 & FY 2012/13

{
September
Conferences Credit Suisse Global Steel & Mining Conference, London (19th) Berenberg Bank & Goldman Sachs Inaugural German Corp. Conference, Munich (25th) Citis Nordic Symposium, Stockholm (25th) Baader Investment Conference, Munich (26th) Roadshows New York (8th), Boston (9th), Paris (SRI) (16th) Conference Call FY 2011/12 (22nd) Conferences Goldman Sachs Annual Global Metals & Mining/Steel Conf., New York (27th-28th)
October November
December January
Conferences Steubing/Deutsche Brse High Tech Engineering Investors Day, Zurich (6th) Annual Stockholders Meeting (18th)
24
Contact Details ThyssenKrupp Corporate Center Investor Relations
Phone numbers Dr. Claus Ehrenbeck Head of Investor Relations Christian Schulte IR Manager (Deputy Head) Rainer Hecker IR Manager Hartmut Eimers IR Manager (Retail)
+49 201-844-536464 -536966 -538830 -538382 Klaudia Kelch IR Manager Sabine Sawazki IR Manager Ute Kaatz Event Manager -538371 -536420 -536466
To be added to the IR mailing list, send us a brief e-mail with your details! E-mail: ir@thyssenkrupp.com
25
Perspective FY 2011/12 Continued Operations

{
EBIT adjusted in mid three-digit million euro range Capex max. 2 bn NFD: around the same level as in Q3
Group
{ {
Cost savings of ~ 300 m (~80% have been realized already) complemented by additional cost measures
Sales & Service
1%
Purchasing
41% 14%
44%
Operations
General Admin.
26
Our Value Creation Program
Portfolio Optimization
Change Management
Performance Orientation
Strategic Push
Financial Stabilization
Positioning of ThyssenKrupp
+
Exit Non-Core Businesses Leadership & Culture
+
Profit & Cash Improvement Grow Core Businesses
+
Financing Capacities
+
Further divestments: Construction (SE) Berco (CT)
+
Ramp-up & Strategic Review Steel Americas
27
ThyssenKrupp Diversified Industrial Company
Cross-operational synergies
Focus on core activities with leading market positions
Efficient capital allocation based on clearly defined key figures
Best-in-class performance within all businesses
Infrastructure
Leading Engineering Competence
Resources
Diversification over business cycles

Financial stability & flexibility
Stable earnings & cash flow profile
28
ThyssenKrupp Group
ThyssenKrupp
FY 2010/11: Sales 43.4 bn EBIT adj. 1,762 m TKVA (2,962) m Employees 180,050
* The TK Group consists of ~ 800 legally independent companies, organized, existing and operating under the laws of 70 countries, ultimately led by TK AG.
Steel Europe
Sales: 12.8 bn EBIT adj.: 1,133 m
Steel Americas
1.1 bn (1,071) m
Materials Services
14.8 bn 533 m
Disc. Op. Stainless Global
6.7 bn 15 m
{ Premium flat carbon steels { Large-scale, multiple niche
{ Premium flat carbon steels { CSA: slab mill in Brazil,
{ Global materials distribution
{ Stainless steel flat products
approach { Long-term customer relations { Technology leadership in products and processes
5 m t capacity, SoP Q3 CY 2010 { Steel USA: processing plant (hot / cold rolling and coating), SoP Jul. 31, 2010
(carbon & stainless steel, pipes & tubes, nonferrous metals, aluminum, plastics) { Technical and infrastructure services for production & manufacturing sectors
& high-performance materials { Operations in Germany, Italy, Mexico and China { Stainless steel plant project in USA
Elevator Technology
{ Elevators
5.3 bn 641 m
Plant Technology
4.0 bn 506 m
{ Components for the
6.9 bn 503 m
Marine Systems
1.5 bn 214 m
{ Specialty and large-scale { { { {
{ Escalators & moving walks { Passenger boarding
bridges { Stair lifts, home elevator { Maintenance, Repair & Modernization
plant construction, e.g.: Petrochemical complexes Cement plants Systems for open-pit mining & materials handling Production systems for auto and aerospace industry
automotive industry (e.g. crankshafts, axle modules, steering systems) { Large-diameter bearings & rings (e.g. for wind energy) { Undercarriages for tracked earthmoving machinery
Focus on naval shipbuilding: { Engineering & Construction of non-nuclear submarines { Engineering of Naval Surface Vessels (frigates & corvettes)
Sales & EBIT adjusted from continued operations for FY 2010/11

29
ThyssenKrupps Leading Engineering Competence Supports Sustainable Progress Worldwide

Drivers
Demography
More consumer and capital goods
Demand (more)
Business opportunities Infrastructure
Demand (better)
Reduction of CO2 emissions; renewable energies
Limitations
Climate change
Urbanization
More infrastructure and buildings
Leading engineering competence in Material Mechanical Plant Resources
Efficient infrastructure and methods/ processes
Limited resources
Globalization
More consumption of resources and energy
Efficient use of resources and energy; alternative energies
Political framework
30
Leading Engineering Competence to Create Better Solutions

Product/service examples
Leading engineering competence Mechanical
Slewing Bearings Essential component of wind turbines Elevators / Escalators LEED certified energy efficiency level Valve control systems 4.1 t less CO2 per vehicle over lifetime Fully mobile crushers Up to 100,000 t less CO2 p.a. in open pit mining
Material
High-strength steel Up to 40% weight reduction of automotive body parts Electrical steel Reduces losses in transformers to <1% Facade elements Up to 15% reduced heat transfer coefficient of roofs and facades Packaging steel Ultra-thin and 23% less CO2 over lifetime
Plant
Cement Plants Up to - 40% of direct CO2 emissions IRESA Construction lines for lithium ion cells EnviNOx N2O removal rate of 99% at fertilizer plants Polylactide (PLA) New processing technology based on biomass
31
5 Year Performance Track Record

EBIT adjusted, EBIT adjusted margin (million , %)
8.1 4,197 7.4 3,933 (0.9) 3.4 4.1
Continued operations and new EBIT definition from FY 2009/10 on SE, MX and ET 2006/07 and 2007/08 referring to old organizational structure
Group
(375)
13.9 14.2
1,293
1,762
8.6 405
9.6
475
11.3 598
12.5 646
12.2 641
ET
SE
1,837
2,045
0.9
6.8
731
8.8 1,133
10.2 6.5 7.3 292 7.6 339
12.6
401
506
PT
84
215
AM
(77) (600) (1,071)

4.5 787 4.7 834 (1.1) (139) 3.0 3.6
(1.9)
5.3 301
7.3 503
CT
14.3 214
(86)
MX
382
533
(5.0)
5.9
(79) 10/11
72
MS
06/07
07/08
08/09
09/10
06/07
07/08
08/09
09/10
10/11
32
Portfolio Optimization: Well on Track

Already signed or closed transactions comprising ~ 90% of sales to be divested
May 13, 2011 Decision for Strategic Way Forward November 30, 2011 Sale of Xervon Group to Remondis January 31, 2012 Sale of civil shipbuilding activities to Star Capital June 29, 2012 Sale of Waupaca to KPS Capital Partners
Start
Q4 2010/11
Q1 2011/12
Q2 2011/12
Q3 2011/12
Q4 2011/12
Q1 2012/13
Execution time line 12 to 18 months

July 20, 2011 Sale of Metal Forming Group to Gestamp December 6, 2011 Sale of Automotive Systems (Brazil) to Cosma International January 31, 2012 Signing of combination Inoxum with Outokumpu May 15, 2012 Strategic review Steel Americas (all strategic options)
Further divestments: Berco (Components Technology), Construction (Steel Europe)
33
Systematic Benchmarking Aiming at Best-in-Class Operations

Selected Peers / Relevant Peer Segments
Steel Europe
ArcelorMittal
/ Flat Carbon Europe Salzgitter / Steel Tata Steel / Europe Voestalpine / Steel
AK
Elevator Technology
UTC
/ Otis KONE Schindler

Chemicals: Cement Mining
Steel Americas
Steel ArcelorMittal / Flat Carbon Americas US Steel / Flat-Rolled Nucor
Plant Technology
Maire Tecnimont / Oil, Gas & Petrochem. & Minerals: FLSmidth Equipment: Sandvik / Mining & Construction
components: Continental (GER); NSK (JPN); TRW (USA) & construction machinery: Kaydon (USA, Friction Control); SKF (SWE, Industrial); Titan Europe (UK, Undercarriage)
Materials Services
ArcelorMittal Klckner Reliance
/ Distribution Solutions
Automotive Industrial
Stainless Global/Inoxum
Acerinox Aperam Outokumpu Allegheny
Marine Systems
DCNS
(F) Navantia (E) Damen (NL)
34
Program Realizing Efficiency Potentials Across The Group

Targeted cost savings FY 2011/12 Sales & Service 1% Operations 41%
Material Services Fleet management optimization across North American operations Optimization of preventive maintenance schedules to increase
Exemplary impact measures
Purchasing ~300 m
equipment availability at South American processing operations 44%

Elevator Technology Process optimization in new installations and service business
14% General Admin.
in Southern Europe
Cost reduction Manufacturing: efficiency gains
by plant layout and process optimization in Americas

Capital Goods
Cycle time reduction for higher production line efficiency
38% ~300 m 62% Materials
at Forging Group operations

Optimization of supply concept for
Asian slewing bearings and rings operations

Marine Systems Bundled procurement of B- & C-Parts by
improved enterprise resource planning
35
Group Overview (I) Continued Operations

2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted EBT EBT adjusted m m m m m m m m 9,997 10,020 592 592 261 261 136 136 90 0.29 Q2 11,328 10,680 827 827 435 435 297 297 200 0.51 Q3 12,984 11,506 944 965 549 570 419 440 263 0.44 Q4 10,809 11,150 846 865 (1,435) 495 (1,603) 327 (1,507) (2.03) 2011/12
FY 45,118 43,356 3,209 3,249 (190) 1,761 (751) 1,200 (954) (0.97)
Q1 10,078 9,896 471 433 (33) 83 (183) (66) (172) (0.30)
Q2 11,596 10,613 432 452 76 134 (91) (34) (304) (0.59)
Q3 10,231 10,710 659 485 296 122 141 (33) 217 0.46
Income from cont. ops. m Earnings per share
36
Group Overview (I) - Incl. Discontinued Operations

2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted EBT EBT adjusted Net income* Earnings per share TK Value Added m m m m m m m m m m 22,832 23,400 23,554 23,223 11,260 11,370 645 645 273 273 145 145 142 0.31 Q2 12,848 12,266 932 932 497 497 352 352 272 0.58 Q3 14,120 12,851 983 1,004 545 566 407 428 212 0.46 Q4 12,019 12,605 825 844 (2,303) 427 (2,482) 248 (1,917) (3.75) 2011/12
FY 50,247 49,092 3,385 3,425 (988) 1,763 (1,578) 1,173 (1,291) (2.71) (2,962) 23,223 3,378
Q1 11,260 11,138 412 374 (357) 25 (513) (131) (460) (0.89)
Q2 13,008 12,155 424 471 (228) 152 (402) (22) (587) (1.14)
Q3 11,362 12,116 573 463 151 101 (12) (62) 109 0.21
Capital Employed m Goodwill m
24,536
23,329
22,701
* attributable to ThyssenKrupp stockholders

37
Group Overview (II) Continued Operations

2010/11 Q1
Capital expenditures* m Depreciation/amort. Operating cash flow
Cash flow from divestm. Cash flow from investm.
2011/12 Q4 723 2,293 1,408 277 (723) 962 3,574 3,578
Q2 603 401 (145) 20 (603) (728) 2,022 6,492 169,120
Q3 463 407 843 7 (463) 387 1,877 6,249 171,086
FY 2,505 3,441 1,012 423 (2,505) (1,070) 3,574 3,578
Q1 466 514 (1,578) 311 (466) (1,733) 1,980 5,937 159,682
Q2 406 367 150 (12) (406) (268) 2,531 6,480 159,009
Q3 325 375 902 436 (325) 1,013 3,101 5,800 155,588
716 340 (1,094) 119 (716) (1,691) 2,869
m m m m m
Free cash flow Cash and cash equivalents**

(incl. short-term securities)
m m
Net financial debt** Employees
5,814 167,095
168,560 168,560
* incl. financial investments ** incl. discontinued operations
38
Special Items
Business Area
(million )
2010/11
Q1 Q2 Q3 Q4
2011/12 FY
Q1 Q2 (9) (2,075) Q3 (5)
Steel Europe Asset disposals Steel Americas: Impairment related charges Asset disposal Materials Services: Disposal Xervon Impairment Rail cartel case Elevator Technology: Refund anti-trust fine Restructuring Plant Technology Impairment Components Technology: Impairment Waupaca Disposal Auto Systems (Brazil) & Healthcare savings Waupaca Impairment Disposal effect Waupaca & others Marine Systems: Impairment Corporate: Provision for litigation risks Others
(2,075)
(2) (1)
(55)
(55)
(16) (133)
160
160
(29) (14) (1) (13)
40
40
66 (13) 338 (155) (17)
(21)
(21)
2 1 1
Continued operations
Stainless Global: Goodwill impairment/IFRS 5 charge Impairment Restructuring Others
(21)
(1,930)
(800)
(1,951) (800)
(116)
(265)
(58)
(250) (48) (24)
174
(59) (63) (3)
Group (incl. Stainless Global)

(21)
(2,730)
(2,751)
(381)
(380)
50
39
Economic Uncertainty Weighing on Sales, Cap Goods with Modest Growth

Sales continued operations (million )
Group -7% yoy +1% qoq
11,506
10,613
10,710
MX
3,980 3,408 479 MS CT PT ET Q2 546 2,886 220 1,880 983 1,322 543 2,900 3,369 294 1,852 1,027 1,429 Q3 2011/12
AM
429
1,779 943 1,298
SE
3,518
ET: increase driven by Asia and partly Europe & Americas; qoq mainly due to billing; yoy due to business growth PT: increase qoq and yoy due to billing of project milestones

SE and MX: lower volumes qoq and yoy
Q3 2010/11
not consolidated
40
Reported EBIT Positively Affected by Disposal Gain of Waupaca

EBIT adjusted continued operations (million ) EBIT continued operations (million )
-79% yoy
-9% qoq
-46% yoy
+220 m qoq
570 134
Q3 2010/11 Q2
549 296 122

Q3 2011/12 Q3 2010/11
Special items Q3 2011/12: 174 m, thereof
Materials Services Components Technology (mainly Waupaca) (133) 325
76
Q2 Q3 2011/12
41
Positive Tax Effect Supporting Bottom-Line

Income after tax and net income reconciliation Q3 2011/12 (million )
(155) 296 76 Tax income Net financial line
EPS cont. ops. 0.46
EPS incl. discont. ops. 0.21
217 Income after tax
(130) 87 Discont. operations Net income

(incl. discont. ops.)
EBIT
incl. IFRS 5 valuation adjustment of (59) m mainly reflecting Outokumpu share price* development
* Outokumpu share price from 0.95 (beginning of May) to 0.70 (beginning of August)
42
Tight Capex Management Going Forward

Cash flows from investing activities (billion )
Steel Americas and Stainless USA* Projects Capex

4.2 4.1 3.5 2.8
Depreciation
1.2
0.7 9M 2011/12
2.5
max. 2 bn
0.3
0.2
2008/09
Divestments
2007/08
0.6
2009/10
0.4
2010/11
0.4
2011/12E 2010/11 continued operations
* not included in continued operations
43
Strong OCF Fueled by Declining Inventories and Advance Payments

Q3 2011/12 (million )
mainly
advance payments at Marine Systems cartel fine to be paid (in P&L; cash-out in Q4)
769
375
Income from continued operations 217
(431)
227
(218) (5)
(32)
Other Other assets/ provisions liabilities*
902
871
130
87
Discont. operations
D/A
Others
Net income
mainly
Inventories Trade accounts receivable
disposal gain related to Waupaca divestment
Trade accounts payable
OCF
thereof:
Steel Europe Elevator Technology Components Technology Marine Systems
(incl. disc. ops.)
OCF
401 89 143 444
* not related to investing or financing activities

44
Declining Inventories at Steel Europe and Steel Americas

Steel Europe Inventories
4,000 3,000 2,000 1,000 0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 2010/11 2011/12
{
Steel Americas Inventories

days
Materials Services Inventories

days
120
1,200 1,000
800 600 400
2,500 2,000 1,500 1,000
days
60 50 40 30 20 10 0
80
800 600
40
400 200
200 0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 2010/11 2011/12
500 0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 2010/11 2011/12
{
Qoq inventories down by ~0.4 m t ~0.2 m t ore, coal and coke ~0.2 m t slabs & finished prod. Cash conversion partially delayed/ cushioned by higher receivables following reduction of finished products Overall, strong OCF in fiscal Q3
Qoq inventories down by ~0.3 m t ~0.1 m t raw materials ~0.2 m t slabs & finished prod. Lower inventories reflecting lower slab production in Brazil sale of stock at Steel USA
Qoq value of inventories slightly up volumes virtually unchanged price/mix effect at non-ferrous metals esp. for aerospace industry
45
Decrease in NFD due to Strong OCF and Divestments

Q3 2011/12 (million )
9M 2011/12 (million )
(3,578)
Gearing 34.5%
(5,800) 735 Divestments Capex* Others NFD June 2012 (1,197)

Gearing 63.8%
(526) NFD Sep 2011 OCF
(incl. disc. ops.)
(636)
FCF disc. ops. (598)
FCF cont. operations (988)
(6,480)
Gearing 73.0%
436 902 Divestments (325) Capex* (209) Others

Mainly FX effects
(incl. disc. ops.)
(5,800)
Gearing 63.8%
add. to
loan note
(incl. disc. operations)
Mar 2012
NFD
OCF
FCF cont. operations
(124) FCF disc. ops.
NFD
(incl. disc. operations)
June 2012
1,013
* Capex for property, plant & equipment, financial & intangible assets and financial investments
46
Increase in FCF by Strong Inventory Release

FCF reconciliation Q3 2010/11 vs Q3 2011/12 (million )
514 387 (46)

from cont. ops.
138 Capex
20 Others
1,013
Income
thereof: inventories receivables payables
NWC FCF cont. ops. Q3 2011/12
FCF cont. ops. Q3 2010/11
733 (205) (14)
9M 2010/11 vs. 9M 2011/12 (million )

FCF cont. ops. 9M 2010/11 FCF cont. ops. 9M 2011/12
Income from cont. ops. (2,032) (812)

NWC
Capex 585
Others 70 (988)
1,201
47
OCF in 9M 2011/12 Impacted by Increase in NWC

9M 2011/12 (million )
1,256
Others
Inventories 8
(613) 721
D/A
OCF (716) Trade accounts receivable

Other provisions
(incl. disc. ops.)
OCF
472
(526) (848)
liabilities*
Discont. (980) operations Net income

Income from continued operations (259)
* not related to investing or financing activities
(470) Trade accounts payable
(204) Other assets/

thereof:
Steel Europe Steel Americas Materials Services Elevator Technology Plant Technology Components Technology Marine Systems
70 (652) (407) 209 (141) 86 442
48
Decrease in NFD due to Strong OCF and Divestments

Net financial position, equity and ratios (million )
Equity ratio Gearing
27.6% 13.8%
23.4% 21.2%
23.8% 36.4%
23.8% 34.5%
20.7% 63.8%
Equity
11,489 10,388 9,696 10,382 9,088
5,800 3,780 1,584 2,059 3,578
Net financial position
Sep 2008
Sep 2009
Sep 2010
Sep 2011
June 2012
49
ThyssenKrupp Rating
Long termrating Standard & Poors Moodys Fitch BB Baa3 BBB-
Short termrating B Prime-3 F3
Outlook
negative negative negative
Restoring / maintaining investment grade status with all three rating agencies is key!
50
Pension and Similar Obligations

Accrued Pension and Similar Obligations (in m)
7,236
155 1,057 530
Expected Normalized* Development of Accrued Pension and Similar Obligations (in m)

6,940
* Assumption: unchanged discount rate
7,496
305 998 603
Other accrued pension-related obl. Accrued postretirement oblig. other than pensions Accrued pension liability outside GER Accrued pension liability Germany Discount rate Germany Reclassification liabilities associated with assets held for sale { {
6,316
5,786 5,891
6,494
- 100200 p.a.
4.20
(292)
4.00
(301)
Q2 2011/12
Q3 2011/12
10/11
11/12 12/13 13/14 14/15
15/16
{ { { { {
Patient long-term debt, no immediate redemption in one go Interest cost independent of ratings, covenants etc. Mainly funded by TKs operating assets Increase in accrued pension liability to 6.5 bn in Q3 mainly driven by decrease in German discount rate ~90% of pension provision in Germany; German pension system requires no mandatory funding of plan assets
Number of plan participants steadily decreasing 69% of obligations owed to retired employees, average age ~74 years Declining pension obligations over time (short-term variation possible, mainly due to change in discount rate) Declining cash-out from pension benefit payments in medium to long term
(2010/11: 566 m; exp. 10 year average from 2011/12 onwards: 535 m)
51
Pension Obligations: ThyssenKrupp with Mature Pension Schemes

Net Periodic Pension Cost vs. Pension Benefit Payments
(Defined Benefit Obligations*; FY 2010/11; in m)
* including continued and discontinued operations
45 (124) 351 126
566 398
Interest Expected return (Past) Service cost, Curtailment and Net periodic settlement cost on plan assets other P+L effects* pension cost Shown in P&L as: Interest income/expense Personnel expenses (functional P&L lines)
Pension benefit payments
* Other P+L effects include termination benefits
Pension payments higher than pension cost: Indicator for mature pension schemes
52
Steel Europe
Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted TK Value Added m m m m m m m 5,695 (433) 0 (100) (533) 34,204 5,797 323 14 (84) 253 33,917 5,830 184 0 (93) 91 33,702 5,822 608 242 (154) 696 28,843 2,929 2,958 399 399 258 258 Q2 3,721 3,287 439 439 300 300 Q3 3,006 3,518 458 458 322 322 Q4 2,688 3,051 374 374 253 253 2011/12
FY 12,344 12,814 1,670 1,670 1,133 1,133 609 5,822 682 256 (431) 506 28,843
Q1 2,705 2,530 225 225 102 102
Q2 2,990 2,886 142 150 21 30
Q3 2,511 2,900 163 168 47 52
Capital Employed m OCF m
5,874 (632) 25 (101) (708) 28,273
5,936 301 (5) (106) 190 28,137
5,865 401 (4) (90) 307 28,104
CF from divestm. m CF for investm. FCF Employees m m
53
Steel Europe: Output, Shipments and Revenues per Metric Ton

Crude steel output (incl. share in HKM)
HKM share
1,000 t/quarter
Shipments*: Hot-rolled and cold-rolled products

Cold-rolled Hot-rolled; incl. slabs
1,000 t/quarter
3,553
837
2,716
2,306 449 1,858
3,324 696 2,628
3,542 3,385 3,349 3,071 865 854 786 2,971 2,813 3,047 875 908 805 816 2,677 2,531 2,563 2,166 1,997 2,172 2,164
Q4 Q1 Q2 2011/12 Q3
3,590 2,497 3,002 2,335 1,675 1,093 2,046 3,142
3,431 3,431
3,018
3,289 3,196 2,580 1,750 2,176 2,074
2,230 1,944 2,107 2,221 1,210 1,201 1,073

Q2 Q3 Q4
660
Fiscal year
957
1,035
Q1
830
Q1
1,113 1,122
Q2 2011/12 Q3
2007/08 2008/09 2009/10 Fiscal year
Q1
Q2
Q3
2007/08 2008/09 2009/10
2010/11
2010/11
Average revenues per ton*, indexed

150 134
Q1 2004/2005 = 100
156 153 136 147
114 116 118 123
133 134 125 129
129 138 133 136
139 138
120 150
122 116 120 129
140 146 130 135
136 138
Q1
Q2
Q3
Q4
Q1 Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2 2011/12
Q3
2005/06
2006/07
2007/08
2008/09
2009/10
2010/11
* shipments and average revenues per ton until FY 2007/08 relate to former Steel segment
54
Steel: Inventories and Months of Supply

Inventories and Months of Supply - Europe
3.0
Inventories and Months of Supply - USA

7
9 8
Inventories China
4.5
Inventories [m t]
MOS [months]
Inventories [m st]
MOS [months]
9 8
Inventories [m t]
2.5
6
7
4.0
7
3.5
2.0
6 5
6 5
1.5
4
4
3.0
4
2.5
1.0
3 2
3 2
0.5
2
1
2.0
1
1.5 J'08 J'10 J'11 J'05 J'12 J'07 J'06 J'09
0.0 J'05 J'06 J'07 J'08 J'09 J'10 J'11 J'12
0 J 09 J 08 J 10 J 11 J 12
Europe: European SSC: June inventories at month end / flat carbon steel w/o quarto Source(s): EASSC, MSCI, UBS, MySteel
USA: July MSCI inventories, carbon flat-rolled
China: flat steel inventory in 23 major cities (HR, CR and Plate)
55
Efficient Operations & Customer Proximity Business Model ThyssenKrupp Steel Europe (I)
Large Scale
{ { {
Multiple Niches Duisburg
Sales volume
Sustained economies of scale Optimum plant configuration Short distances to key customers with long-standing relations: <5 years
8%
41 % 21 % 38 % 23 %
250 km
18 % 59 %
5-10 years 25 %
67%
>10 years
500 km > 500 km
Customers
56
Premium Product Mix and Attractive Customer Portfolio Business Model ThyssenKrupp Steel Europe (II)
Large Scale Multiple Niches
Sales by Industry Steel Europe FY 2010/11
in % of sales
Premium Product Mix Steel Europe FY 2010/11

in % of sales
Hot Strip Medium-wide Strip

15 8
Tailored Blanks Construction Elements

62 12
Tinplate
8 Steel
Electrical
Others Construction 26 Packaging 9 Mechanical 7 Engineering 19 Trade
Automotive industry (incl. suppliers) 34
Heavy Plate 7 Cold Strip

8 34
23 Steel and steelrelated processing
Coated Products (HDG, EG, Color)
57
Steel Europe: Portfolio Optimization ThyssenKrupp Tailored Blanks

Company & Products
{
Sales by region
RoW 2 Asia/ Pacific 18 Germany 28
Pioneer, technology and world market leader for laser-welded blanks for the automotive industry (joining of individual steel sheets of different thickness, strength and coating ) USP in Tailored Strips technology (coils from strips with different thickness, finish or grade, incl. stainless)
America 29
Other EU 23
Application examples in the automotive industry:
Production locations: 13 in 7 countries

Side panels Doors Wheel arches Side members Floors
USA (Monroe/MI, Prattville/AL) Mexico (Puebla, Saltillo, Hermosillo) China (Wuhan, Changchun)
{ { {
Sales (FY 2010/11): 0.7 bn Employees (Sep 30, 2011): ~ 900 Customer examples:
Italy (San Gillio/Turin, Tito Scalo/Neapel) Germany (Duisburg, Gelsenkirchen) Sweden (Olofstrm) Turkey (Nilfer/Bursa)
58
Steel Europe: Further Portfolio Measures Construction Group

Company & Products
{
sig ned
Sales by region in %
not consolidated
One of Europes biggest suppliers of lightweight steel construction elements for roof, floor, wall and facade applications Product examples & applications:
Germany 50
Single sheets
Sandwich
Doors
Western Europe 35
Central Eastern Europe 15

Roofs, rain shield finishes, Industrial buildings, power plants, industrial offices, schools, clean walls, garages, etc. rooms, cold stores, etc. Clean rooms, cold stores, walk-in rooms, deep freeze stores, retailers, etc.
Sales by product in %
Other 26
{ { {
Key success factors: Quality products & technologies Customer benefit Local presence in all major European countries Net Sales (FY 2010/11): ~ 300 m Employees (Sep 30, 2011): ~ 780 Production plants: 2 plants in Germany (Eichen, Oldenburg), 2 sites in France (Dunkerque, Perpignan), 1 plant each in Austria, Belgium and Hungary
Double sheet 58
%
Single sheet 17
59
Steel Americas
Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted TK Value Added m m m m m m m 7,230 (585) 90 (477) (972) 3,571 7,430 (361) 1 (424) (783) 3,748 7,524 (269) (6) (197) (472) 3,995 7,416 (174) (5) (271) (450) 4,060 84 86 (328) (328) (378) (378) Q2 268 260 (211) (211) (319) (319) Q3 504 429 (95) (95) (190) (190) Q4 437 364 (252) (79) (2,258) (184) 2011/12
FY 1,293 1,139 (886) (713) (3,146) (1,071) (3,813) 7,416 (1,389) 80 (1,369) (2,678) 4,060
Q1 583 498 (205) (205) (288) (288)
Q2 632 546 (139) (137) (230) (228)
Q3 413 543 (171) (170) (263) (262)
6,624 (364) 0 (152) (516) 4,081
6,726 (189) 0 (160) (349) 4,258
6,778 (99) 1 (80) (178) 4,236
60
Steel Americas: Transatlantic Steel Concept (I)

BA Steel Americas BA Steel Europe
under stra tegic revie

Steel Americas Brazil NAFTA
Targeted major transatlantic production capacities

Capacity in m metric tons p.a.
Steel Europe**
TK Steel USA
~4 m t finished steel
TK Steel Europe
~16 m t finished steel
Slabs Hot-rolled Cold-rolled Coated
>5 -
>5* 2.5 >1.5
15 17 10 8
TK CSA ~5mt
* incl. ~1 million t for Stainless ** slabs incl. share in HKM; hot-rolled incl. heavy plate and medium-wide strip; coated incl. EG, HDG and tinplate
Production cost advantage from production in Brazil Build on and expand strong European market position in premium flat carbon steels Transfer of proven business model into the modern industrial center of the U.S.
61
Steel Americas: Brazil

Raw materials Coal Integrated steel mill
Coking plant
Steam { Construction /
Power plant
External sale of electricity
ramp-up battery C { Repair hot gas ducts
Gasholder
Internal electricity consumption
Coke
BF gas
Converter gas
Pig iron
Sinter plant PIT
Slabs Brammen
USA
Iron ore
Blast furnaces
{ Dedusting
Steelmaking shop
Logistics
system
62
Steel Americas: USA

Hot strip Hot strip P&O Cold rolled full-hard
HDGL #1
Slabs Hot strip mill Pickling line/ Cold strip mill
HDGL #2
Cold strip annealed
CSA
Logistics
{ Exchange of { IT systems
HDGL #3
furnace body (warranty case)
HDGL #4
Hot-dip galvanized
63
Well Positioned in Southeastern United States with Proximity to Mexico Geographic position of TKS USA, our home market and BF & EAF competitors
Mini-Mill Blast Furnace Industry (Non-Auto) Customers Auto Customers
TKS USA
1) Size of Industry and Auto bubbles reflect the approximate number of customer locations in the given area. 2) Includes all steelmaking (EAF, BF) locations, excluding West Coast of U.S. and Canada. Credit Suisse Global Steel & Mining Conference London September 19, 2012
64
Migration of Automotive Production from North to South Production in TKS USA home market to exceed pre-crisis-levels by 2012
Light-Vehicle Production NAFTA Share of TKS USA Home Market
50%
in %
Light-Vehicle Production TKS USA Home Market

8 7
in million units
40%
6 5 4
30%
20%
3 2 1
10%
0%
00 02 04 06 08 10 12
Source: Polk ProCar World April 2012; own analysis
Car production in Germany: ~6.0 m units

(2013e)
0
00 02 04 06 08 10 12
production Germany in million units
65
Comprehensive Customer Development Activities Geared to Market-Oriented Ramp-up at ThyssenKrupp Steel USA
Current Focus on Trials/Qualifications schem at Gain customer order for approval process Establish / document technical set-up in full compliance with productand customer-specific requirements Trial production and product testing (inhouse / outside lab); document coil to coil consistency
% %
Auto
ic
SSC
Planned Shipments by Customer Industries
28
FY 2010/ 11 FY 2013/14
30
17
Yellow Goods/ Other Hotrolled
9 Pipe& Tube 7 9 Appliance Construction
Shipment of qualification samples and provision of performance data to customer Customer approval / certification Gain customer / model series share - in current model cycle - with start of next model cycle
Planned Shipments by Product Mix
26
FY 2010/ 11 FY 2013/14
Coated 34
25
Hot-rolled, pickled&oiled
15 Coldrolled
66
Materials Services
Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted TK Value Added m m m m m m m 3,273 (497) 10 (64) (551) 34,196 3,422 104 14 (22) 96 35,391 3,485 (16) 0 (18) (34) 35,440 3,430 907 6 (32) 881 36,568 3,259 3,311 117 117 85 85 Q2 3,918 3,704 197 197 163 163 Q3 3,973 3,980 181 181 149 149 Q4 3,618 3,781 166 173 81 136 2011/12
FY 14,768 14,776 661 668 478 533 186 3,430 498 30 (136) 392 36,568
Q1 3,201 3,145 65 65 40 40
Q2 3,573 3,408 99 98 74 90
Q3 3,235 3,369 (20) 130 (42) 92
2,861 (441) 197 (17) (261) 27,910
2,966 23 42 (18) 47 28,123
2,971 11 2 (16) (3) 27,945
67
Sales by Region & Customer Groups 2010/11 (Total: 14.8bn)

Sales by Region Sales by Customer Groups
Trading Germany Other EU 41 Other industries 11 30 Engineering Construction Automotive Energy 13 9 13 3 19
Rest of Europe
NAFTA 19 Asia 3 South America/ Rest of World 2

(in %) (in %)
Other 10 Steel/steel22 related processing
68
Unique Portfolio in Products and Services Sales by products/services (%), FY 2010/11

Materials
Stainless Steel 14
6
Services
Pipes & Tubes
Carbon Steel 38
15 NF-Metals
Plastics
11 Raw Materials
Technical Products 4
Industrial Services About About 250,000 250,000 customers customers worldwide worldwide
trading warehousing processing logistics materials & inventory management o supply chain management o project management o operating and maintenance services
o o o o o
More More than than 150,000 150,000 product product items items
69
Elevator Technology
Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted TK Value Added m m m m m m m 2,249 52 3 (18) 38 44,489 2,272 168 3 (16) 155 44,937 2,259 87 1 (28) 60 45,603 2,243 315 3 (79) 239 46,243 1,306 1,299 189 189 171 171 Q2 1,358 1,267 165 165 147 147 Q3 1,320 1,298 168 168 151 151 Q4 1,297 1,389 353 194 332 172 2011/12
FY 5,281 5,253 875 716 801 641 621 2,243 623 10 (142) 491 46,243
Q1 1,466 1,348 132 161 113 142
Q2 1,541 1,322 139 148 118 132
Q3 1,575 1,429 156 168 134 147
2,322 (49) 2 (77) (124) 46,581
2,393 169 0 (26) 143 46,605
2,425 89 0 (17) 72 46,656
70
Regional Market Growth in Key Regions of Elevator Technology Growth over 5 years p.a.
USA Germany China
Growth: +4%
Growth: +1%
Growth: +7%
Spain
Growth: +1%
India
Brazil
Growth: +5%
Growth: +12%
71
Elevator Technology: Focus on China We Are Growing Faster Than the Market
Market (in units)1 300,000 CAGR: 8%
Number of projects Railway Subway planned Airports Stations Systems today ~100 >400 ~200
2015/16
2006/07 Order Intake ThyssenKrupp
2010/11
CAGR: 18%
2006/07
1) Source: China Elevator Association
2010/11
2015/16
Eton Hotel, Dalian, China
72
Initiatives Contribute to Grow EBIT Margin to 15%

1
Asia Initiative: Focus on fast growing markets
Multi -purpose facility under construction
Service Initiative
Units under Maintenance (UuM) + 25% Continuous improvement of service quality 1.3 m UuM
India
China: Increase number of branches by >50% by 2015 India: New multi-purpose facility under construction
Number of ThyssenKrupp locations 230
China
50 06/07
Innovative new service tools GPS routing and tracking via ERP Integrated workflow via mobile devices
15/16
143 10/11
2007
2010
2015
Online tracking for customers
+15,000 employees in the next 4 years
Acquisition of Service Portfolios

Mature TKE Markets Strong Foothold Room to Develop Young TKE Markets
4
Growth & Start-ups
Optimization Manufacturing & New Installation
UK
Germany
EU 7 Acquisitions US 2 Acquisitions EU 6 Acquisitions US 3 Acquisition
EU 6 Acquisitions
China & India 2 Joint Ventures Turkey 2 Acquisitions Turkey 1 Acquisition China & India 2 Joint Ventures
Italy Spain / EU
EU 4 Acquisitions
CENE: Increase of efficiency and structural optimization of manufacturing and overhead reduction with focus on Germany SEAME: Alignment of structure to changed market conditions with focus on Spain Total volume: 50 m of restructuring expenses in 2011/12
73
Plant Technology
Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted m m m m m m 1,016 897 115 115 107 107 303 118 0 (7) 111 13,001 Q2 896 969 148 148 139 139 329 (26) 0 (9) (35) 13,026 Q3 1,097 943 149 149 131 131 239 129 1 (10) 120 13,194 Q4 1,466 1,195 138 138 129 129 245 267 0 (21) 247 13,478 2011/12
FY 4,474 4,004 550 550 506 506 245 488 2 (48) 442 13,478
Q1 871 943 134 134 125 125 300 (116) 1 (15) (130) 13,786
Q2 934 983 125 124 114 115 326 51 1 (6) 46 13,956
Q3 832 1,027 150 149 140 140 331 (76) 1 (14) (89) 14,105
74
Plant Technology: Technology Portfolio Offering Growth Potential

Markets
Conversion Technologies Gas Reforming Oil Refining Biotechnology Gasification Coke Plant Technologies Electrolysis
Technologies
Customer Products Fertilizers Organic Chemicals & Polymers Biopolymers Electric Power; Fuel Steel Inorganic & Organic Chemicals
Market Positions
Chemicals
Fertilizers: No.1 Polymers: No.2 Electrolysis: No.1 Coke Plant Tech.: No.1
Raw material preparation Cement
Clinker production
Cement manufacturing Cement plants: No.3
Mining
Mining
Handling
Processing
Handling
Mining and Materials Handling Equipment:
No.1
75
Plant Technology: Reference Projects

Oil sand mining & processing plant Canada Fertilizer complex (ammonia & urea) SORFERT, Algeria Construction time: ~5 yrs 4 fully mobile crushing plants in open pit coal mine China Power Investm. Group
Engine assembly line FORD,United Kingdom
Bodyshop Production Lines and Service contract Volkswagen, Russia
3,300 tpd turnkey cement plant HONDUVER, Honduras Constuction time: ~3 yrs
2,100 tpd cement production line OHORONGOFA, Namibia Construction Time: ~3 yrs
300,000 tpy low-density polyethylene (LDPE) plant QAPCO, Qatar Constuction time: ~3 yrs
76
Plant Technology: Selected Orders Q3 2011/12

Chemicals
PET plant with unique melt-to-resin technology*
Cement
Cement mill
Mining
Semi-mobile crusher, belt wagon, tripper cars and more equipment
{ { { { {
2 PET plants, Geel, Belgium Capacity: 600 tons per day Customer: JBF Industries Order volume: ~ 50 m Commissioning: 2014
{ { { {
Cement mill, Guinea Customer: Ciments de l'Afrique Order volume: ~ 20 m Commissioning: 2013/14
{ { { {
Diverse equipment and replacement parts, Kazakhstan Customer: Eurasian Energy Corporation Order volume: ~ 40 m Commissioning: 2014
* Complete replacement of conventional solid-state post-condensation saves one plant component. Costs for energy, capital investment and operations are lower leading to an overall reduction of conversion costs of about 30% compared to the traditional process.
(Pictures show comparable projects)
77
Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted TK Value Added m m m m m m m 2,689 (25) 4 (33) (54) 29,649 2,734 46 1 (54) (8) 30,080 2,760 146 4 (90) 60 31,049 2,796 277 (1) (183) 92 31,270 1,602 1,599 196 196 127 127 Q2 1,795 1,769 186 186 114 114 Q3 1,811 1,779 220 220 141 141 Q4 1,713 1,761 178 176 161 121 2011/12
FY 6,921 6,908 780 778 543 503 291 2,796 444 7 (361) 91 31,270
Q1 1,778 1,753 243 178 169 103
Q2 1,858 1,880 203 203 128 128
Q3 1,828 1,852 548 209 459 134
3,075 (121) 77 (95) (139) 30,936
3,142 64 2 (83) (17) 31,304
3,140 143 432 (109) 466 27,775
78
Components Technology: Order Intake above Pre-Crisis Levels

COMPONENTS TECHNOLOGY
Automotive Components Passenger Cars/ Light Comm. Vehicles Heavy Commercial Vehicles Industrial & Construction Machinery Undercarriages for tracked/crawler equipm. Large-diameter bearings & rings
Quarterly Order Intake

Q3 2011/12: ~still 20% above pre-crisis level (average of FY 2007/08)
Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 2007/08 2008/09 2009/10 2010/11 2011/12
Quarterly Order Intake

Q3 2010/11: Strongest for more than 2 years
Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 2007/08 2008/09 2009/10 2010/11 2011/12
79
Components Technology: Quarterly production of passenger vehicles (million)

World (annual production PV & LCV)
78.3 83.3 87.9 91.7
Germany (quarterly production)

Actual Forecast
1.5 1.51.5 1.5 1.5 1.5 1.4 1.3
USA (LCV; quarterly production)

Actual Forecast
2.6 2.6 2.2 2.2 2.6 2.4 2.1 2.0
68.2
65.0 57.5
715 73.8
2007 2008 2009 2010 2011 2012 2013 2014 2015
Q2 Q4 2008
Q2 Q4 2009
Q2 Q4 2010
Q2 Q4 Q2 2012 2013 2011 2012
Q2 Q4 2008
Q2 Q4 2009
Q2 Q4 2010
Q2 Q4 Q2 2012 2013 2011 2012
Brazil (quarterly production)

Actual
0.68 0.65 0.65 0.65 0.63 0.62
China (quarterly production)

Actual
3.4 3.1 3.0 2.8
Forecast
Forecast
3.7 3.3 3.4 3.1
0.57 0.56
Q2 Q4 2008
Q2 Q4 2009
Q2 Q4 2010
Q2 Q4 Q2 2012 2013 2011 2012
Q2 Q4 2008
Q2 Q4 Q2 Q4 2009 2010
Q2 Q4 Q2 2012 2013 2011 2012
Source: Polk; (linear breakdown of 2012 & 2013 estimates on quarterly basis)
80
Components Technology: Strong Presence and Local Production in China

Liaoyang Products: Coil Springs/ Stabilizers Changchun Product: Steering columns
Dalian Product: Camshafts
Beijing
Shanghai Products: Undercarriages and components for construction vehicles Shanghai Products: Cold forging, I-Shafts Services: R&D-Center Shanghai Products: Steering Columns, Steering Gears
Xuzhou and Qingdao Slewing bearings with diameters of 200 to 5,000 millimeters
Huizhou and Nanjing Product: Crankshafts
Sales share China: ~ 10%

Sales growth FY 2010/11 (vs. FY 2009/10): 24%
81
Components Technology: Portfolio Optimization ThyssenKrupp Waupaca closed

Company & Products
{
Sales by region
Largest global producer for gray, ductile and compacted graphite iron castings for the automotive, agricultural and construction industry Product examples:
%
America 100
Brake drums
Brake rotors
Differential carriers
Housings
Flywheels
Worldwide industry best practices (vertical molding on own WaupacaMatic machines) and large capacity melting capabilities Sales (FY 2010/11): ~ 1.1 bn Employees (Sep 30, 2011): ~ 3,000 Diversified customer and industry base with >450 customers and >9,000 different parts Locations: 6 plants in USA (3 x Waupaca, WI; Marinette, WI; Tell City, IN; Etowah, TN)
Sales by customer group

Industrial equipment 12 Off Highway 19
%
Light Vehicle 48
{ { { {
Commercial Truck 21
82
Components Technology: Portfolio Optimization car ThyssenKrupp Bilstein Division Coil Springs & Stabilizers ved-out
Divison & Products
{ {
Sales by region
Asia/Pacific 10 Germany 31
Global Top 3 solution provider for vertical- and side load compensation Global Top 3 solution provider for roll stabilization
Product examples:
America 49
Other EU 10
Coil springs
Stabilizers
{ { {
Sales (FY 2010/11): ~ 0.5 bn Employees (Sep 30, 2011): ~ 2,500 Customers: virtually all manufacturers of passenger and commercial vehicles, examples:
Mexico
Production locations
UK Germany China Brazil
83
Components Technology: Further Portfolio Measures Berco Group

Company & Products
{
div est init ment iate d
Sales by region in %
NAFTA 26 Germany 19 Asia 5 South America/RoW 5
%
Supply of undercarriages on a just-in time basis to main earth moving machinery OEMs all over the world for initial assembly Product examples:
EU (w/o Germany) 45
With regard to the spare parts market, Berco has a network of over 200 dealers in more than 90 countries throughout the world. Sales (FY 2010/11): ~ 500 m Employees (Sep 30, 2011): ~ 3,000 Locations: 4 plants in Italy (Copparo, Castelfranco Veneto, Busano, Sasso Morelli) and subsidiaries in Brazil, Bulgaria, China, Germany, India, UK and the US
Sales by customer group in %

Mining 25
{ { {
Construction 70
Others 5 (e.g. agriculture)
84
Marine Systems
Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted m m m m m m 426 504 51 51 46 46 1,289 (25) 11 (1) (16) 5,407 Q2 149 219 87 87 84 84 1,335 47 5 (3) 50 5,372 Q3 2,155 479 71 71 62 62 1,344 613 0 (4) 609 5,398 Q4 247 291 28 28 21 21 1,334 (300) 0 (6) (306) 5,295 2011/12
FY 2,977 1,493 237 237 214 214 1,334 334 16 (14) 337 5,295
Q1 222 366 45 45 (116) 39 1,241 (94) 0 (2) (96) 5,301
Q2 731 220 66 69 61 78 1,184 92 (30) (3) 59 3,731
Q3 456 294 28 28 23 23 1,144 444 1 (5) 440 3,781
85
Marine Systems: Focused Organization FY 2011/12

Business Area Marine Systems
Kockums (KAB) Karlskrona / Malm (SWE) Howaldtswerke - Deutsche Werft (HDW) Kiel Blohm + Voss Naval (BVN) Hamburg
Submarines / Naval Surface Vessels
Submarines Sales (m): ~ 1,200 Employees: ~ 3,900
Naval Surface Vessels
86
Discontinued Operation: Stainless Global

Key figures
2010/11 Q1 Order intake Sales EBITDA EBITDA adjusted EBIT EBIT adjusted TK Value Added m m m m m m m 3,362 (308) 6 (61) 11,196 3,414 83 (4) (52) 11,292 3,442 (139) 0 (54) 11,339 3,356 270 0 (99) 11,490 1,483 1,605 48 48 7 7 Q2 1,790 1,856 103 103 59 59 Q3 1,360 1,586 43 43 0 0 Q4 1,412 1,692 (6) (6) (851) (51) 2011/12
FY 6,045 6,739 188 188 (785) 15 (1,087) 3,356 (95) 1 (266) 11,490
Q1 1,372 1,438 (57) (55) (321) (56)
Q2 1,618 1,768 (7) 17 (303) 19
Q3 1,291 1,606 (86) (21) (145) (21)
2,870 (215) 1 (85) 11,630
2,700 (64) (32) (98) 11,771
2,615 (54) 4 (94) 11,806
CF from divestm. m CF for investm. Employees m
87
Corporate: Overview
Corporate
2010/11 Q1 Order intake Sales EBITDA EBIT OCF Employees m m m m m 31 31 (78) (88) 258 2,578 Q2 33 33 (102) (111) (452) 2,649 Q3 32 32 (109) (120) (18) 2,705 Q4 47 47 (37) (58) (553) 2,803 2011/12
FY 143 143 (326) (377) (766) 2,803
Q1 33 35 (88) (99) 221 2,814
Q2 39 37 (109) (119) (340) 2,895
Q3 34 34 (95) (106) 1 2,986
88
ThyssenKrupp-specific Key Figures (I): EBIT Definition

Q3 2011/12: Reconciliation Income from operations (P&L Structure) to EBIT
P&L Structure
Net sales Cost of sales 1) SG&A 1), R&D +/- Other income/expense +/- Other gains/losses = Income from operations +/+/Income from companies using equity method Finance income/expense
incl. capitalized interest exp. of 10 m
EBIT definition
10,710 (9,345) (1,269) (110) 310 296 14 (169) Net sales 10,710 1) (9,345) Cost of sales 1) SG&A , R&D (1,269) +/- Other income/expense (110) +/- Other gains/losses 310 +/- Income from companies using equity method 14 + Adjustm. for depreciation on cap. interest 11 +/- Adjustm. for oper. items in fin. income/expense (25) = EBIT +/+/Finance income/expense
296 (169) (11) 25 141
Depreciation on capitalized interest Operating items in fin. income/expense
= EBT
1) incl. depreciation on capitalized interest expenses of (11) m
141
= EBT
89
ThyssenKrupp-specific Key Figures (I): EBIT Definition

9M 2011/12: Reconciliation Income from operations (P&L Structure) to EBIT
P&L Structure
Net sales Cost of sales 1) SG&A 1), R&D +/- Other income/expense +/- Other gains/losses = Income from operations +/+/31,219 (27,272) (3,811) (209) 347 274 26 (433)
EBIT definition
Net sales 31,219 1) (27,272) Cost of sales 1) SG&A , R&D (3,811) +/- Other income/expense (209) +/- Other gains/losses 347 +/- Income from companies using equity method 26 + Adjustm. for depreciation on cap. interest 32 +/- Operating items in fin. income/expense 7 = EBIT +/+/Finance income/expense
Income from companies using equity method Finance income/expense

339 (433) (32) (7) (133)
Depreciation on capitalized interest Operating items in fin. income/expense
= EBT
1) incl. depreciation on capitalized interest expenses of (32) m
(133)
= EBT
90
Compensation for the Executive Board at ThyssenKrupp

Performance bonus
{ {
Linked to Group EBT and ROCE in equal parts A quarter is paid out as phantom stock with a holding requirement of 3 years Linked to TKVA and share price Payout is limited to 1.5 m for an ordinary Executive Board member
ple Exam tic) ma (sche

FY 1:
Performance period (3 fiscal years) Share price development

FY 2: Adjustment to rights based on TKVA* increase in TKVA by 200 m = 21,000 rights FY 3: Cash payout of rights based on share price 21,000 rights share price 30 Payout = 630,000 Rights based on initial value and share price Initial value 500,000 Assumption: share price 25 = 20,000 rights
Variable
Long Term Incentive plan
{ {
Additional bonus
{ {
Linked to defined Group cash-flowrelated targets Target definition and approval each year anew 55% paid out as phantom stock with a holding requirement of 3 years
TKVA Comparative period (last 3 FY)
TKVA Performance period (3 fiscal years)
* increase in TKVA by 200 m = increase in number of rights by 5% reduction in TKVA by 200 m = reduction in number of rights by 10%
Fixed
Fixed compensation Additional benefits & Pension plans
670,000 annually for each ordinary Executive Board member
{ {
E.g. insurance premiums or private use of a company car (taxable) Pensions for existing board members are based on a percentage of final fixed salary (defined benefit); system for new board members (defined contribution) in transition
[Ceiling total compensation (excl. pensions)] = [fixed compensation] x 6

91
Shareholder Structure
Undisclosed 11.57% AKBH Foundation 25.33% Rest of World Europe 0.62% 12.91%
Free Float 74.67%
Private Investors 10.00%
International Mutual Funds 64.67%
UK/Ireland 9.25% Germany North America 15.41% (incl. AKBHFoundation 50.24% 25.33%)
Source: ThyssenKrupp Shareholder ID 03/2012, ThyssenKrupp AGM registrations

92
Our Mission Statement

We are ThyssenKrupp The Technology & Materials Company. Competence and diversity, global reach, and tradition form the basis of our worldwide market leadership. We create value for customers, employees and shareholders. We Meet the Challenges of Tomorrow with our Customers. We are customer-focused. We develop innovative products and services that create sustainable infrastructures and promote efficient use of resources. We Hold Ourselves to the Highest Standards. We engage as entrepreneurs, with confidence, a passion to perform, and courage, aiming to be best in class. This is based on the dedication and performance of every team member. Employee development is especially important. Employee health and workplace safety have top priority. We Share Common Values. We serve the interests of the Group. Our interactions are based on transparency and mutual respect. Integrity, credibility, reliability and consistency define everything we do. Compliance is a must. We are a responsible corporate citizen.
93
Disclaimer ThyssenKrupp AG
The information set forth and included in this presentation is not provided in connection with an offer or solicitation for the purchase or sale of a security and is intended for informational purposes only. This presentation contains forward-looking statements that are subject to risks and uncertainties. Statements contained herein that are not statements of historical fact may be deemed to be forward-looking information. When we use words such as plan, believe, expect, anticipate, intend, estimate, may or similar expressions, we are making forward-looking statements. You should not rely on forward-looking statements because they are subject to a number of assumptions concerning future events, and are subject to a number of uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from those indicated. These factors include, but are not limited to, the following: (i) market risks: principally economic price and volume developments, (ii) dependence on performance of major customers and industries, (iii) our level of debt, management of interest rate risk and hedging against commodity price risks; (iv) costs associated with, and regulation relating to, our pension liabilities and healthcare measures, (v) environmental protection and remediation of real estate and associated with rising standards for real estate environmental protection, (vi) volatility of steel prices and dependence on the automotive industry, (vii) availability of raw materials; (viii) inflation, interest rate levels and fluctuations in exchange rates; (ix) general economic, political and business conditions and existing and future governmental regulation; and (x) the effects of competition. Please note that we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
94

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Global Steel & Mining Conference 2012 Credit Suisse

London September 19, 2012 Guido Kerkhoff, CFO

Developing the future.

Q3 2011/12 Highlights Continued Operations

EBIT adjusted (in m) 570 281 485

134 453 (108)

122 444 (118)

NFD (in m) 6,249 Q3 2010/11 6,480 Q2 2011/12 5,800 Q3

Developing the future.

Economic Uncertainty Weighing on Orders, Cap Goods Underlying Solid

3,573 731 3,235 456 1,828 413

832 2,511 1,575

Developing the future.

EBIT Solid Contribution from Capital Goods, Materials ex AM Positive

484 281 144

485 444 205 409 453 444

Developing the future.

All Continued Operations with Positive EBIT Performance (Except AM)

Developing the future.

1,000 800 600 400 200

1,000 800 600

3.00 2.50 2.00 1.50 1.00

Sig. depreciation of BRL vs USD during fiscal Q3

3.00 2.50 2.00 1.50

Source: SBB: Scrap #1 Busheling, HRC N. America domestic

Developing the future.

Elevator Temporary Margin Dilution by Regional Development

Development by region, Operating Units

Sales and margin, Operating Units

4.7 10% 43%

5.3 18% 40%

+12% +102% +4.9%

(past construction boom years)

with low NI demand, competitive pricing

06/07 07/08 08/09 09/10 10/11 11/12E

SEAME (incl. Spain)

despite recent decline, margins still above Elevator average

06/07 07/08 08/09 09/10 10/11 11/12E

Restructuring in Europe and the US

Temporary lower Elevator margin

mid-term target: 15%

06/07 07/08 08/09 09/10 10/11 11/12E

Developing the future.

Cash Flow Profile with Significant QoQ Improvement

Capex continued operations (million )

843 150 Q3 2010/11 Q2 2011/12

FCF continued operations (million )

Net financial debt incl. discont. ops. (million )

387 (268) Q3 2010/11 Q2 2011/12 Q3

Developing the future.

Effective Cash Control Already Leading to Improvements

and substituting for disproportionate year-end measures!

excl. Steel Americas

FCF Steel Americas FCF Group

Developing the future.

Solid Financial Situation

Cash and cash equivalents

Available committed credit facilities

after 2015/16 22%

* incl. securities of 6 million

Developing the future.

Additional Cost Measures Complementing Stringent Cash Control