RHIM Rhi Magnesita N.v.

TIDMRHIM

RNS Number : 4471O

RHI Magnesita N.V.

03 October 2023

RHI Magnesita N.V.

("RHI Magnesita" or "the Group")

Acquisition of P-D Refractories

RHI Magnesita announces the acquisition of the Germany, Czech Republic and Slovenia based refractory businesses of the Preiss-Daimler Group ("P-D Refractories") for a cash consideration of approximately EUR45 million ("the Acquisition").

About P-D Refractories

P-D Refractories is a producer of high quality alumina-based refractories for industrial applications in process industries, with a leading market position in the glass and aluminium sectors. Previously part of the Preiss-Daimler Group, the assets acquired include refractory plants in Germany and Czech Republic and clay, quartzite and silica raw material sites in Czech Republic and Slovenia.

P-D Refractories recorded revenues of EUR171 million in the year to 31 December 2022 and had Gross Assets of EUR187 million at 31 December 2022.

Benefits of the Acquisition

The Acquisition will increase RHI Magnesita's capabilities in alumina-based refractories and its presence in process industries, where the Group is currently under-represented compared to other customer sectors. Substantial synergies are expected to be generated through access to new customers and cross-selling opportunities, production network and logistics efficiencies, vertical integration benefits, recycling, technology transfer and procurement savings .

The acquisition is not expected to result in a material increase in gearing for the Group on a pro forma EBITDA basis. The cash consideration for the acquisition is to be funded by RHI Magnesita's existing committed and undrawn facilities and cash.

Commenting on the Acquisition, Stefan Borgas, Chief Executive Officer of RHI Magnesita, said:

"The production capabilities and vertical integration of P-D Refractories, combined with RHI Magnesita's know-how and renowned R&D capabilities, will complement our product portfolio and enlarge our production footprint and sales channels on a global scale. This acquisition is our sixth transaction to close in the year to date and marks a major milestone for both companies in the process industries sector. Together we look forward to expanding our footprint and strengthening our market presence by offering high-grade refractory products and solutions to an enlarged customer base."

For further enquiries, please contact:

Chris Bucknall, Head of Investor Relations

Tel +43 699 1870 6490

E--mail: chris.bucknall@rhimagnesita.com

Media:

Hudson Sandler

Mark Garraway, Emily Dillon, Nick Moore

Tel +44 020 7796 4133

E-mail: rhimagnesita@hudsonsandler.com

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200degC in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with around 15,000 employees in 47 production sites, 7 recycling facilities and more than 70 sales offices. RHI Magnesita intends to build on its leadership in revenue, scale, product portfolio and diversified geographic presence to expand further in high growth markets.

The Group maintains a premium listing on the Official list of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange (Wiener Börse). For more information please visit: www.rhimagnesita.com

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