SSAB Investor Presentation — July 2020

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Martin Lindqvist, President & CEO

►Outlook and summary

3Lower demand due to Covid -19

cash flow►Shipments down 20% vs. Q1/2020

►Lower capacity utilization

−Low production rate in SSAB Europe (BF

−Stable production in Special Steels,

preparing for the maintenance outage

►Continued pressure on steel margins

►EBIT SEK -251 m (1,316) in Q2

►Operating cash flow supported by

some release of working capital1,911 1,976 2,000 2,1001,9021,6212,0811,779-15%

20Q2 20Q1 18Q3 19Q2 19Q4 19Q3 18Q4 19Q1Group fixed cost reduced by SEK 800 million in Q2

5Common activities SSAB Special Steels SSAB Europe SSAB Americas

► Fixed cost reduced by

forward to the summer► Fixed cost reduced by

► One BF in Raahe idled in

► Short -term layoffs

► Planned maintenance

brought forward► Fixed cost reduced by

► Relatively high share of

► Planned maintenance in

extensive and brought

forward to the summer► External services

► Projects postponed

Cost savings continue into Q3

Liquid assets and committed credit lines at

comfortable level of SEK 20bn (as of June 30)

Planned maintenance rescheduled to Q3 –positioned

for ramp -up in Q4Impact ofCovid -19 on SSAB’s operations

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