Umicore's Sustainability and Financial Report

Capital allocation shift to accelerate Group returns above cost of capital with some temporary dilution in E&ST umicore Catalysis ROCE 2015 - '20 average - ~14% Lower capital employed base drives higher returns E&ST ROCE 2015 '20 average - ~11% Near-term returns dampened by Rechargeable Battery Materials' growth costs and investments. Above cost of capital shortly after 2026 Recycling ROCE 2015 - '20 average - ~37 % Highly value-creative returns on higher capital base incl. Battery Recycling; assumes normalized PGM prices GROUP ROCE 2015 '20 average - ~14% Stay above cost of capital across the plan and create substantial value towards end of decade once mid- decade investments are ramped-up 2026 ambition 2030 vision - 20 % > 20 % Capital Employed sensitive to prevailing metal prices through NWC Current cost of capital slightly below 10% 2026 ambition > 8 % 2030 vision > 12.5 % 2026 ambition - 30 % 2030 vision - ~ 20 % 2026 ambition > 12.5 % 2030 vision 15 % 28

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