Interim Report First 9 Months 2014/15. Analyst Conference Call on August 13, 2015

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1 Interim Report First 9 Months 2014/15 Analyst Conference Call on August 13,

2 Aurubis generates very good results after first nine months 9 months FY 2014/15 9 months FY 2013/14 Operating EBT ( million) Net cash flow ( million) Operating ROCE (%) (EBIT rolling last four quarters) Certain prior-year figures have been adjusted

3 Operating earnings before taxes significantly improved EBT in the first 9 months 2014/15 (in million, rounded) FY 14/15 FY 13/14 Significant factors influencing the results » Considerably higher treatment and refining charges for copper concentrates and copper scrap with slightly higher throughputs» A very good metal yield with higher metal prices in euros» Higher cathode premiums 75» A substantial increase in sales prices for sulfuric acid» Strong US dollar EBT IFRS Adjustments Operating EBT Operating EBT 3

4 Aurubis Group KPIs considerably higher than previous year (operating IFRS) 9 months 9 months Change 2014/ /14 Absolute Relative Revenues m 8,467 8, % Gross profit m % EBITDA m > 100 % EBIT m > 100 % EBT m > 100 % Consolidated net result m > 100 % Net cash flow m % Return on capital employed (ROCE) % Certain prior-year figures have been adjusted. 4

5 Reconciliation of balance sheet/income statement from IFRS (average cost method) to IFRS (operating) In million IFRS using average IFRS based on operating Adjustments Balance sheet 6/30/2015 Total assets and liabilities 4,331 3,871 (460) Assets Fixed assets Inventories 1,442 1,816 1,387 1,411 (55) (405) Equity and liabilities Equity Deferred tax liabilities 2, , (313) (147) Income statement 10/1/2014 6/30/2015 Change in inventories Cost of materials (7,741) (7,730) 11 Gross profit Earnings before taxes Tax expense (63) (65) (2) Consolidated net result

6 Good development of Aurubis Group financial ratios reflects improved results of operations (operating IFRS) 6/30/2015 operating 6/30/2014 operating Target Profitability ROCE* 18.7 % 4.2 % 15 % Capital structure - Equity ratio (equity / total assets and liabilities) - Fixed asset cover (equity / fixed assets) - Intensity of investments (fixed assets / total assets and liabilities) 43.7 % % 35.8 % 44.2 % % 39.6 % > 40 % > 120 % < 40 % Debt and interest coverage - Net debt / EBITDA - EBITDA / net interest expense < 3 > 5 Liquidity - Quick ratio (current assets + finished products + credit lines / current liabilities) > 100 % * EBIT rolling last four quarters Certain prior-year figures have been adjusted. 6

7 BU Primary Copper: Improved market environment Operating results in BU Primary Copper (first 9 months of FY 2014/15) BU Primary Copper 14/15 13/14 EBIT (in m) EBT (in m) ROCE (%) (Quantities in 1,000 t) Concentrates 1,732 1,657 Copper scrap Cathodes Sulfuric acid 1,666 1,574» Operating results include extraordinary effect of 13 million from Q2, which weighed on earnings» Prior-year earnings negatively impacted by maintenance and repair shutdown at the Hamburg site» High copper concentrate supply leads to increased TC/RCs» Good copper scrap supply with stable refining charges» A very good metal yield with higher metal prices in euros» Increased cathode premium starting in Q2» Higher sulfuric acid prices» Strong US dollar reinforces the results» ROCE significantly above target and previous year 7

8 BU Recycling/Precious Metals: Good KRS input mix Operating results in BU Recycling/Precious Metals (first 9 months of FY 2014/15) BU Recycling/ Precious Metals 14/15 13/14 EBIT (in m) EBT (in m) ROCE (%) (Quantities in 1,000 t) KRS throughput » Operating results include extraordinary effect of 5 million from Q2, which weighed on earnings» Good copper scrap supply with stable refining charges» Good KRS input mix with very good metal yield at higher metal prices in euros» Scheduled shutdowns for general repairs in Lünen and Hamburg in June» ROCE slightly below target Copper scrap Cathodes Certain prior-year figures have been adjusted. 8

9 BU Copper Products: Positive development in Business Line Rod & Shapes Operating results in BU Copper Products (first 9 months of FY 2014/15) BU Copper Products 14/15 13/14 EBIT (in m) EBT (in m) ROCE (%) » Results strongly supported by Business Line Rod & Shapes» European demand for wire rod positive overall due to favorable developments in main customer sectors» Low demand in the US» Production optimizations at the Zutphen site (Quantities in 1,000 t) Rod Shapes Strip and wire products Certain prior-year figures have been adjusted. 9

10 Copper price: Volatile and trending downward Copper price and metal exchange inventories in 1,000 t Metal exchange inventories LME copper price Copper price 08/12/2015: 5,103.0 in US$/t /09 04/10 10/10 04/11 10/11 04/12 10/12 04/13 10/13 04/14 10/14 04/15 10

11 Productivity, efficiency and environmental compliance, coupled with the capability to treat complex material, are the core of Aurubis success Raw materials Concentrate Blister Scrap no. 1 Scrap no. 2 E-scrap Aurubis: an integrated copper producer Primary Copper Segment Copper Products Segment Processors and end users» Cathodes» Sulfuric acid» Precious metals» Minor metals» Iron silicate Primary smelting Hamburg (D), Pirdop (BG)» Cathodes» Wire rod» Shapes» Flat rolled products» Bars & Profiles» Closing-the-loop solutions Secondary smelting Lünen (D), Olen (BE) Main product sites Zutphen (NL), Buffalo (US), Avellino (I), Stolberg (DE), Pori (FI) 11

12 Significant increase in earnings level expected for fiscal year 2014/15» July 2015 Reuters poll regarding the average copper price for 2015 is at US$ 5,945/t» Strongly improved treatment and refining charges for copper concentrates compared to previous year» We expect a very high metal yield until the end of the year due to the input material currently being processed» High cathode premiums for most sales volumes despite currently weaker spot markets» Sulfuric acid markets at a good level with slightly weaker trend» Good availability of copper scrap with stable refining charges» Stable sales trend for Rod & Shapes overall» Market conditions in North America still difficult for strip products» Strong US dollar continues to support earnings» Initial contributions to earnings from our Results Improvement Project We expect both operating EBT and ROCE to be considerably higher for fiscal year 2014/15 12

13 Aurubis AG The Leading Integrated Copper Producer 13

14 IR contacts: Angela Seidler Head of Investor Relations Dieter Birkholz Senior Specialist Elke Brinkman Senior Specialist Financial calendar» Annual Report 2014/15 December 11, 2015» Annual General Meeting 2016 February 24,

15 Disclaimer Forward-looking statements This document contains forward-looking statements that involve risks and uncertainties, including statements about Aurubis plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Aurubis. Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. 15