RHI MAGNESITA INDIA LIMITED

70%

tions Customer industries Main application Lifetime and costs Refractory characteristics Steel 70% of global market Cement/Lime 10% of global market Non-ferrous metals 7% of global market Glass 1

10%

pplication Lifetime and costs Refractory characteristics Steel 70% of global market Cement/Lime 10% of global market Non-ferrous metals 7% of global market Glass 1 7% of global market Energy, Envi

7%

y characteristics Steel 70% of global market Cement/Lime 10% of global market Non-ferrous metals 7% of global market Glass 1 7% of global market Energy, Environmental, Chemicals 1 6% of global mar

6%

errous metals 7% of global market Glass 1 7% of global market Energy, Environmental, Chemicals 1 6% of global market s e s s e n s u b i j t c e o r P Basic oxygen furnace, Electric arc furnace,

3%

Rotary kiln Copper flash smelter Glass furnace Secondary reformer 20 minutes to 2 months c.3% of customers’ costs Annually c. 0.5% of customers’ costs 1 to 10 years c. 0.2% of customers’ co

0.5%

Glass furnace Secondary reformer 20 minutes to 2 months c.3% of customers’ costs Annually c. 0.5% of customers’ costs 1 to 10 years c. 0.2% of customers’ costs Up to 10 years c. 1% of customers

0.2%

tes to 2 months c.3% of customers’ costs Annually c. 0.5% of customers’ costs 1 to 10 years c. 0.2% of customers’ costs Up to 10 years c. 1% of customers’ costs 5 to 10 years c. 1.5% of customers

1%

nually c. 0.5% of customers’ costs 1 to 10 years c. 0.2% of customers’ costs Up to 10 years c. 1% of customers’ costs 5 to 10 years c. 1.5% of customers’ costs Part of customers’ operational ex

1.5%

10 years c. 0.2% of customers’ costs Up to 10 years c. 1% of customers’ costs 5 to 10 years c. 1.5% of customers’ costs Part of customers’ operational expenditure Systems and solutions for comple

10.5%

owth through consolidation Global market share (RHI Magnesita Group) Total market size: c.€20bn 10.5% Others 15% 34% Medium & small Chinese companies 1.5% 3% 3% 3% 3% 10% 4% 4% 3% 3% RHI

rs 15

gh consolidation Global market share (RHI Magnesita Group) Total market size: c.€20bn 10.5% Others 15% 34% Medium & small Chinese companies 1.5% 3% 3% 3% 3% 10% 4% 4% 3% 3% RHI Magnesita

34%

idation Global market share (RHI Magnesita Group) Total market size: c.€20bn 10.5% Others 15% 34% Medium & small Chinese companies 1.5% 3% 3% 3% 3% 10% 4% 4% 3% 3% RHI Magnesita Group

Formulae used for computation

2

Total market size

1

RHI Magnesita India has

1

Total market size

c.€20bn 10.5% Others 15% 34% Medium & small Chinese companies 1.5% 3% 3% 3% 3% 10% 4% 4% 3% 3% RHI Magnesita Group is the leading global refractory supplier with a 15% global market share and 30% ex-China The Group’s strategy is to grow in geographies and product segments in which it is under-represented, including in India, Türkiye and China and in the flow control product segment RHI Magnesita India has a market share of 30% in the India refractory market following the Dalmia OCL and Hi-Tech acquisitions RHI Magnesita India 4 PUBLIC Raw material and refractory process overview RHI Magnesita India 5 PUBLIC Solutions contracts RHI Magnesita can offer a range of heat management solutions to its customers Client benefit ü Reduced downtime ü Lower refractory consumption ü Lower energy and other raw materials consumption ü Higher productivity and cost savings RHI Magnesita benefit ü Higher client retention ü Barriers to entry ü Longer contracts ü Higher share & margins as contract matures

Formulae used for computation

EBITDA -> Profit before tax + Finance Cost + Depreciation & Amortisation expense EBITDA Margin -> EBITDA / Total Revenue PAT Margin -> PAT / Total Revenue 19 Q3 vs Q2 profit & loss detail

Formulae used for computation

EBITDA -> Profit before tax + Finance Cost + Depreciation & Amortisation expense EBITDA Margin -> EBITDA / Total Revenue PBT Margin -> PBT / Total Revenue PAT Margin -> PAT / Total Revenue Earnings per share (₹) 16.6 17.5 8.4 2021 2022 9M FY23* * Denoted on annualized basis RHI Magnesita India 20 PUBLIC Disciplined working capital management Working capital (₹ m) 93 96 6,631 3,915 Cash conversion cycle 105 7,584 87 7,284 2021 2022 H1 2022 Dec-22 Inventories (₹ m) 99 3,531 110 6,077 2021 2022 Receivables (₹ m)1 89 99 5,815 3,863 2021 124 7,049 Inventory days 109 5,897 H1 2022 Dec-22 Receivables days 94 6,463 92 6,498 2022 H1 2022 Dec-22 Payables (₹ m) 105 3,479 103 5,261 113 5,928 Payables days 114 5,111 2021 2022 H1 2022 Dec-22 RHI Magnesita India 1. Receivables calculated as trade receivables plus contract assets minus contract liabilities PUBLIC 21 Operations update Production optimisation Rationalise, modernise and reduce production costs, closer to our customers Production optimisa

RHI Magnesita India has

- Moved Magnesia Carbon products from imported source to local production in Cuttack - Moved Magnesia mixes from Turkey to local manufacturer to reduce costs, lead time and inventory - Plans to relocate pours plug production from Radenthien to Bhiwadi RHI Magnesita India 23 PUBLIC RHI Magnesita India PUBLIC Vizag New tunnel kiln August 2022 24 RHI Magnesita India PUBLIC Bhiwadi New R&D centre November 2021 25 Shared service centre Group is investing to expand its global shared service centre in New Delhi Global Shared Services (GSS) Alongside strong growth in the domestic India market, the RHI Magnesita Group also intends to invest in its global shared service centre in New Delhi Vision is to build an agile, resilient service delivery with strong process controls to support future organic and inorganic growth Processes designed for India operations to provide a robust control/responsibility matrix and visibility of service delivery Integration with acquired entities Following two recen