Investor Presentaiton

Cost detail Cost deflation in some key categories offset by low capacity utilisation in H2 Raw materials Energy Gas prices have normalized; oil prices remains flat RHI MAGNESITA Cost of goods sold Absolute COGS +10%, shipped volumes +11% DBM prices softening since Q1 22 2.714 Rebased to 100 DBM 97% (China) Rebased to 100 2,474 2,410 160 1,166 150 Raw materials DBM 90% (China) Electrofused 97% (China) 1.200 Gas (NL TTF) Oil (Brent Crude) 1.000 1,064 986 140 Personnel 130 800 Freight 120 461 360 600 422 Energy 110 281 219 229 100 400 283 84 86 236 90 255 Depreciation 90 168 160 174 Supplies 200 80 234 301 339 Other H 0 Jan/21 Jan/22 Jan/23 Jan/24 Jan/21 Jan/22 Jan/23 Jan/24 2022 2023 excl. M&A 2023 Plant utilisation rate Low production volumes impact unit costs Freight Sea freight cost indices reduced back to 2020 levels Wages Shanghai containerized freight index Baltic dry index % CPI YOY 14 12 Consumer price inflation appears to have peaked in key regions Eurozone CPI Brazil CPI US CPI 10 8 6 4 2 о Jan/21 Jan/22 Jan/23 Jan/24 Jan/21 Jan/22 Jan/23 Jan/24 Rebased to 100 Operational gearing - 350 capacity to grow into 300 demand recovery 250 200 76% 78% 74% 150 100 50 H1 Investor Presentation | March 2024 Q3 Q4 30

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