Full Year 2020 Salzgitter AG Earnings Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : [Interpreted] I have a question about the development of trade. Steel price is increasing tremendously. On the raw material side, you have a problem. What are you expecting for this first half of the year? And then in the same context, cash flow. What will be the working capital requirement be with the much higher volume? How do you plan it? And if I read it properly in the management report, you assume that debt will grow substantially as is the higher volume. Can you tell us more about it, what the plans are? Personnel costs, despite structural reductions, will you come to the EUR 1.8 billion, more or less? Is that the run rate that you can accept? And the last point is the investment cash flow. What is the plan for the cash out for the still existing or operating or current investment? What's the cash requirement here for the next 2 years? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 16, 2021 / 12:00PM, SZGG.DE - Full Year 2020 Salzgitter AG Earnings Presentation

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : [Interpreted] I've got another question, maybe it's in a personal question to Professor Fuhrmann. There will be a handover to a new CEO, which is an interesting time, isn't it? Now my question, what about this handing-over process? It's not so trivial if someone from the outside joins the Salzgitter AG. Would that person come by before July already, and then you would work together for 1 to 2 months? Or how do you do it? Or will there be a hard cut?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : [Interpreted] Sorry that I come in again very shortly. Could you tell me again what the share of the United States in sales, United States plus Mexico? And whether there was full utilization of capacity in these plants? And what you expect also with respect to the measures because of the new presidency, and the subsidies that are paid probably?