Investor Presentaiton

Figures only include c. 4.5 months of 2021 contribution from Zinc US Befesa at a glance Global leader in Europe, Asia and US in providing regulated critical hazardous waste recycling services to the steel and aluminium industries 3-year average (2019-2021)1) 37% 2nd Aluminium €691m Revenue²) 0 10% Salt Slags 53% Steel Dust Steel Dust Recycling¹) #1 Position Global (c. 40-50% market share) Aluminium Salt Slags Recycling #1 Position in Europe in salt slags subsegment (c. 45-50% market share) 32% EBITDA margin (3-year average 2019-2021) 26% EBITDA margin in salt slags subsegment³) (3-year average 2019-2021) 11% 2nd Aluminium 12% Salt Slags €161m EBITDA 0 77% Steel Dust ArcelorMittal >15yrs Relationships GLENCORE outokumpu trímet TRAFIGURA voestalpine >15yrs Relationships REAL ALLOY Novelis Hydro Alcoa Source: Company information, International Consulting Firm based on World Steel Association's Steel Statistical Yearbooks, WBMS, industry research, expert Interviews. 1) Figures do not include the contribution from AZR's acquisition closed on 17 August 2021 2) Excluding internal revenue; revenue split is calculated on revenues including internal revenue; 3) Including recycling of SPL (a hazardous waste generated in primary aluminium production) Company Presentation - April 2022 3 BEFESA

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