Financial Data and Key Metrics Changes - Ternium reported an EBITDA of $0.5 billion for Q1 2023, equivalent to $166 per ton and a 14% margin, with free cash flow of $414 million [4][14] - EBITDA, EBITDA margin, and EBITDA per ton improved sequentially, leading to earnings per ADS of $1.91 [14] - Cash flow from operations was $612 million, including a working capital release of $218 million, resulting in a net cash position of $3 billion by the end of March [19] Business Line Data and Key Metrics Changes - Steel shipments in Mexico reached a record 2.1 million tons in Q1 2023, a 30% increase compared to Q1 2022 [6][15] - Consolidated shipments for the quarter were 3.1 million tons, with expectations for increased shipments in Q2 2023 [16] - Shipments in the Southern Region decreased by 8% due to weaker demand in Argentina [15] Market Data and Key Metrics Changes - The Mexican market showed healthy apparent steel demand, particularly in the commercial sector, with ongoing restocking [5] - In Argentina, steel demand is expected to decrease by 2% to 3% for the entire year due to economic instability and high inflation [7][43] - The industrial real estate sector in Mexico has a national occupancy rate of 97%, indicating strong demand for industrial space [6] Company Strategy and Development Direction - Ternium is increasing its market share in the automotive industry and is advancing its certification process for new products [6] - The company is committed to Brazil, viewing it as a significant market for future growth opportunities [12] - Ternium is taking a more direct role in Usiminas management, aiming to unlock its potential and improve competitiveness [9][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Ternium's performance for 2023 despite macroeconomic uncertainties, citing strong competitive positioning and ongoing investments [12] - The company anticipates robust demand in the second half of the year, with some concerns about potential impacts from rising interest rates [22][23] - Management noted that the new normal for steel prices is significantly higher than pre-pandemic levels, with expectations for stable pricing [32] Other Important Information - Ternium was recognized as sustainability champions by World Steel for the fifth consecutive year, reflecting its commitment to sustainable operations [10] - The company is launching a new technical school in Brazil to enhance education and technical training in the community [11] Q&A Session Summary Question: Demand conditions in North America and outlook for the second half of the year - Management indicated that shipments are expected to increase in Q2 2023, with robust demand anticipated to continue [22][23] Question: Usiminas transaction and future plans - Management refrained from elaborating on future plans for Usiminas until regulatory approval is obtained, but expressed optimism about its potential [26] Question: Working capital trends and price expectations for USHRC - Management expects an increase in working capital utilization due to anticipated growth in shipments and prices [34] - A new normal for steel prices is expected to stabilize around $900 to $1,000 per ton [32] Question: AMSA operations and potential restart - Management noted uncertainty regarding AMSA's restart and its potential impact on the market, but does not expect significant disruption [37] Question: Slab integration dynamics and Argentina's steel demand outlook - Slab integration is nearly 100%, with expectations of a decrease in steel consumption in Argentina by 2% to 3% for the year [43]

Financial Data and Key Metrics Changes - Full year EBITDA for 2022 was $14.1 billion, with $10.2 billion generated in the first half and $3.9 billion in the second half, indicating a significant downturn in profitability in the latter half of the year [10] - Free cash flow over the past two years totaled $13 billion, demonstrating consistent cash generation capabilities [11] Business Line Data and Key Metrics Changes - The company has made strategic acquisitions, including the HBI plant in Texas and four scrap processors in Europe, enhancing its low-carbon metallics capabilities [7] - The company is progressing with a strong pipeline of higher return strategic CapEx projects, including a €200 million CCU bioethanol project in Belgium and an Electrical Steels project in France, which are expected to add $1.3 billion to normalized earnings power [8] Market Data and Key Metrics Changes - Apparent steel consumption is expected to grow by 2% to 3% in 2023, with a forecasted 5% improvement in shipments [19] - Energy costs in Europe are normalizing, which is expected to improve order books and overall market conditions [18] Company Strategy and Development Direction - The company is focused on decarbonization, business growth, and capital returns to shareholders, with significant investments in low-carbon technologies and strategic acquisitions [6][7] - The company aims to maintain a balanced approach between growing the business and returning cash to shareholders, having bought back 11% of its equity in 2022 and increased its base dividend [31] Management's Comments on Operating Environment and Future Outlook - Management believes the worst conditions of the current cycle have passed, with positive signs indicating a recovery in steel spreads and easing destocking pressures [9][20] - The company is cautiously optimistic about the outlook for 2023, expecting improved performance in Q1 and beyond [20] Other Important Information - The company has maintained operations in Ukraine despite challenging conditions, with current output levels at approximately 15% to 20% for steel and 20% to 25% for iron ore [24] - The company is awaiting approvals for several decarbonization projects in Europe, with expectations for government support to facilitate these initiatives [48][66] Q&A Session All Questions and Answers Question: On capital returns and buyback policy - Management clarified that there is no change in the buyback policy, and they still have 19 million shares to acquire [14] Question: On EBITDA progression and destocking cycle - Management indicated that while destocking was significant in Q4, they expect normalization moving forward, with improved shipments anticipated in Q1 [16][18] Question: On volume guidance and Ukraine operations - Management confirmed that shipments are expected to grow by 5% year-on-year, including operations in Ukraine, which are currently maintained at low levels [23] Question: On working capital and destocking in the U.S. - Management expects to continue releasing working capital in 2023 as energy costs normalize and inventory costs decrease [35] Question: On decarbonization initiatives and government support - Management is awaiting approvals for four major decarbonization projects in Europe, with expectations for government support to cover approximately 50% of the CapEx [48][66] Question: On the ramp-up of the Mexican hot strip mill - The hot strip mill in Mexico is currently operating at a run rate of about 50% capacity, with expectations for continued improvement [52]

Financial Data and Key Metrics Changes - The company is experiencing significant headwinds in real demand, exacerbated by destocking throughout the value chain, which is expected to improve once the destocking phase matures [3] - Variable costs, including raw materials and energy, are anticipated to decline in Q4, supporting profitability despite lower realized prices [4] - The company has allocated significant cash to working capital investments, which is now at peak, and expects a working capital unwind to support free cash flow in a lower EBITDA environment [4] Business Line Data and Key Metrics Changes - Shipments are expected to remain at reduced levels in Q4, particularly in Europe, while other divisions are anticipated to be relatively flat [8] - The company has seen a decline in iron ore and coking prices, which should positively impact profitability in Q4 [9] Market Data and Key Metrics Changes - The apparent steel demand is being impacted by destocking, with real demand in Europe remaining stable up to Q3 [9] - The order book is considered okay, but not as high as before, reflecting expectations for apparent steel consumption to remain weak due to destocking [20] Company Strategy and Development Direction - The company aims to be a leader in low carbon steel and capture growth opportunities in faster-growing markets [5] - The company is focused on maintaining market share while adapting production capacity in response to current demand conditions [50] Management's Comments on Operating Environment and Future Outlook - Management believes that the destocking phase is likely to continue and possibly accelerate in Q4, impacting shipments [8] - The company is optimistic about the potential for improvement in apparent demand once destocking is complete [3] Other Important Information - The company is investing in its Kazakhstan operations, viewing them as strategic despite challenges, and plans to continue investing to enhance facility performance [18] - The company has been managing energy costs effectively, locking in prices during favorable conditions, but has not hedged much for Q4 due to high spot prices [61] Q&A Session All Questions and Answers Question: What are the less obvious moving parts to consider for Q4 EBITDA bridges? - Management indicated that destocking will continue to impact shipments and that prices have declined, but raw material costs are also decreasing, which should help profitability [8] Question: Can you provide an update on Kazakhstan operations and their strategic importance? - Kazakhstan operations performed well, with good shipment and profitability, while Ukraine operations are facing challenges but are stable [17][18] Question: How weak are order books and what is the outlook for destocking? - Order books are okay but not as high as before, and the company believes they are going through the worst of the destocking in Q4 [20] Question: What is the status of the Liberia expansion project? - The Liberia project remains strategic despite falling iron ore prices, and the company continues to invest in it [23] Question: How is the company managing inventory write-downs? - The company is writing down inventory based on realizable values and excluding these from EBITDA to reflect true underlying performance [30] Question: What is the outlook for working capital release? - The company expects to release a significant portion of the $10 billion in working capital built up in previous quarters [12] Question: How are labor agreements progressing in Europe and Brazil? - The company is focused on balancing employee needs with competitiveness, and discussions with unions will be crucial in 2023 [67]

4Q 2021 and FY 2021 Financial Results and Strategic update February 10th 2022 Lakshmi Mittal, Executive Chairman Aditya Mittal, Chief Executive Officer Genuino Christino, Chief Financial Officer Mexico: Hot Strip mill complex 1 | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Data and Key Metrics Changes - The company reported a record net income of $15 billion for 2021, with full-year EBITDA at $19.4 billion and free cash flow of $6.4 billion, including $3 billion generated in Q4 alone [5][6]. Business Line Data and Key Metrics Changes - The company is focused on four strategic priorities: leading in decarbonization, improving cost position, investing for long-term growth, and returning capital to shareholders [6]. Market Data and Key Metrics Changes - Demand is expected to improve in 2022, supported by higher annual contracts and a value plan to offset cost inflation [7]. Company Strategy and Development Direction - The company aims to enhance shareholder value through capital allocation strategies, including a commitment to return 50% of free cash flow to shareholders while exploring M&A opportunities that align with decarbonization efforts [9][10]. - The company is investing in decarbonization technologies and has announced plans for net-zero steel facilities in Spain, Belgium, and Canada [18]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong prospects for 2022, citing improved demand and effective negotiation of contracts that support pricing [7][14]. - The company is aware of safety concerns and is committed to improving safety measures to achieve zero incidents [5]. Other Important Information - The company has a $1.5 billion value plan aimed at improving variable costs and operational reliability over the next three years [31]. - The company is actively managing its operations in Ukraine amid rising political tensions, with contingency plans in place [53]. Q&A Session Summary Question: Capital allocation and M&A strategy - Management reiterated their focus on returning capital to shareholders while exploring M&A opportunities that support decarbonization [9][10]. Question: Outlook for Q1 EBITDA - Management expects higher selling prices due to contract resets in Europe and NAFTA, with stable to slightly higher volumes anticipated [13][14]. Question: Decarbonization plans compared to peers - Management is confident in their decarbonization strategy and believes they are well-positioned despite competitors accelerating their plans [17][18]. Question: Value plan details - The value plan focuses on variable costs and operational reliability, with a bottoms-up approach to identify improvement areas [31]. Question: Operational update in India - The Indian operations are performing strongly, with plans for expansion in automotive downstream and increased capacity at the Hazira site [34]. Question: Carbon price hedging strategy - The company strategically decided not to draw from their hedging position in 2021, carrying it forward for future use [37]. Question: Liberia CapEx and rail line access - The company retains operatorship rights for the rail line and plans to expand capacity while allowing for potential third-party access [62]. Question: Guidance for the year ahead - Management does not provide specific guidance but discusses moving parts affecting Q1, including stable shipments and rising costs [44]. Question: Concerns about Chinese steel exports - Management acknowledges the risk of increased exports from China but believes recent policy changes may mitigate this risk [78].

Ternium – Fourth Quarter and Full Year 2019 Earnings Conference Call and Webcast 1 9,6 9,8 11,6 13,0 12,5 2015 2016 2017 2018 2019 EBITDA Margin (% of net sales) 14% 21% 20% 24% 15% 2015 2016 2017 2018 2019 1.073 1.549 1.931 2.698 1.526 2015 2016 2017 2018 2019 EBITDA (USD million) Fourth Quarter and Full Year 2019 Earnings Conference Call and Webcast February 19, 2020 Forward-Looking Statements This presentation contains certain forward-looking statements and information relating to Ternium S.A. and its su ...