Strategic review

Capital Markets Event

Korea 2012Marc Grynberg, CEO

2

Key growth drivers

Catalysis:• Global legislation• Emerging markets• HDD

Performance

Materials:• Industrial production• Geographical expansion• Products with reduced

environmental impact

Recycling:• Materials scarcity• Legislation• Energy efficient metals

recovery

Energy Materials:• New (H)EV vehicles• Photovoltaic demand• Demand for safer

products

3

Vision 2015: our growth profile

Faster growthCatalysis

Energy Materials Recycling

• High R&D• High investments• Many new

applications and/or markets

GDP growthPerformance Materials

• Lower R&D• High investments• Some new

applications and/or markets

4

Umicore growth profile

Technology to remain the key differentiator

Growth will not be linear

Growth will not be pursued at the expense of value creation

Returns remain fundamentally important and Umicore’s goal is to generate an average return on capital of 15%+ between now and 2015

5

Strategic roadmap

Prepare

Regain profitability of

2007-2008

Lay the foundations for

exceptional growth initiatives

(eg battery materials, HDD)

Demonstrating the feasibility of others (eg battery

recycling)

Focus

Intensification of investment efforts

Initial pay-off for major growth initiatives in

terms of market position and profitability

Accelerate

Acceleration of growth

Growing into leadership positions

Optimum performance

Further investments in chosen areas

2010-2012 2012-2015 2015+

Progress report

7

REBIT & ROCE

64.2

16.7

77.7

89.59.4%

3.0%

12.4%12.7%

0

50

100

2008 2009 2010 2011

(in million €)

Revenues

712

586

699

813

0

300

600

900

2008 2009 2010 2011

(in million €)

Catalysis progress report

Outstanding growth in most markets

New HDD contracts in all regions

New LDV contracts globally

New investment wave:

Technology development centre in Suzhou, China

Production line for LDV and HDD in Suzhou, China

New HDD production line in Florange, France

New AC test centre approved for Brazil in Americana

New investments in PMC in Guarulhos, Brazil

8

Catalysis priorities 2012

Expansion in existing markets for HDD and LDV

Investment in emerging automotive markets

Increase penetration with Japanese OEMs both in Japan and elsewhere

Pursue PMC investments in USA

Capex

53.046.0 45.7

49.5

0

25

50

75

2008 2009 2010 2011

(in million €)

9

Energy Materials progress report

Significant growth in cathode materials sales especially for electrified vehicle batteries

Profitability lower due to start-up costs of new investments

Qualification of new rotary targets in TFP made good headway

Take-off of Ge substrate sales for CPV

CSM successfully implementing its product and geographical diversification strategy

Revenues

395.0

305.1347.6

395.9

0

100

200

300

400

500

2008 2009 2010 2011

(in million €)

REBIT & ROCE

57.3

23.9

43.941.06.7%

15.9%

9.5%

11.8%

0

25

50

75

2008 2009 2010 2011

(in million €)

10

Energy Materials priorities 2012

Develop RBM as stand-alone BU+ new products, infrastructure, IP

Start next expansion phase in Korea

Expansion of TFP

Adapt EOM production footprint

CSM to focus on supply of critical materials for the growth of CSM & RBM

Capex

52.3 51.0

38.3

67.6

0

25

50

75

2008 2009 2010 2011

(in million €)

11

Performance Materials progress report

2011 growth well above global GDP levels in most areas

Investments up by 32%

Successful steps in internationalizing the business & developing new market niches

Ammonia and cyanide-free products in Electroplating

Façade and PV in Building Products

Japanese footprint for Platinum Engineered Materials

Expansion strategy of Zinc Chemicals in Asia

Revenues

483.4

404.2446.3

471.2

0

200

400

600

2008 2009 2010 2011

(in million €)

REBIT & ROCE

87.9

36.6

75.267.06.9%

14.9%

11.1%

12.8%

0

50

100

2008 2009 2010 2011

(in million €)

12

Performance Materials priorities 2012

Further expansion of Platinum Engineered Materials in Germany

Expanding Building Products’ coated materials production in France

Further expansion in Asia

Capex

33.5

23.9 23.9

31.6

0

25

50

2008 2009 2010 2011

(in million €)

13

Recycling progress report

Outstanding revenue growth and record levels of profit

Strong supply environment and favourable market conditions for all businesses

New investments launched:

Sampling

Water treatment

Thailand (Jewellery & Industrial Metals)

Commissioning of the new UHT plant and trialling of various new feeds

Revenues

508.2426.7

506.1

609.5

0

200

400

600

800

2008 2009 2010 2011

(in million €)

REBIT & ROCE

201.5

117.7

195.5

267.2

40.8%

73.5% 69.8%64.8%

0

100

200

300

2008 2009 2010 2011

(in million €)

14

Recycling priorities 2012

Bring new investments on-stream: sampling, jewellery

UHT technology:

Trialling of new materials for both precious and specialty metal containing residues.

Further market studies

Further expansion in Jewellery & Industrial Metals

Capex

66.1

54.950.3

55.7

0

25

50

75

2008 2009 2010 2011

(in million €)

Group financial / investment summary

16

Financial and investment summary

Revenues

1,910

2,100

1,723

2,000

2,290

0

600

1,200

1,800

2,400

2007 2008 2009 2010 2011

(in million €) REBIT & ROCE

359 355

146

343

416

370

410

17.8%18.6%17.5%

8.1%

19.6%

0

100

200

300

400

500

2007 2008 2009 2010 2011 2012e

(in million €) REBITDA

471 467

263

469

553520

560

0

100

200

300

400

500

600

2007 2008 2009 2010 2011 2012e

(in million €)

17

Financial and investment summary

Capex

153

216

191172

213

0

100

200

300

2007 2008 2009 2010 2011 2012e

(in million €)

18

Financial and investment summary

Capex

153

216

191172

213

0

100

200

300

2007 2008 2009 2010 2011 2012e

(in million €)

Social & environmental progress

20

Great place to work

Zero AccidentsInitiatives underway to further promote safety culture at Umicore eg Umicore Safety Awards / Site recognition (3-years & 5-years). 2011 safety performance: LTA up from 56 to 60. Severity rate improved.

Occupational exposure reductionFirst year of benchmarking performance against aggregated individual biomarker readings.

People developmentDeployment plans are being put in place to ensure that all employees receive an annual appraisal to discuss individual development (in 2011 87% of us received such an appraisal)

Preferred employerThe Group focus will be on increasing the satisfaction scores of all employees to reach the high level recorded for managers in the 2010 People Survey 

21

Eco-efficiency

Reduce carbon footprintWe have reduced emissions by 14% vs 2006 (for comparable scope of activity). Energy audits are being implemented at the sites with the highest emissions.

Emission reductionWe have already achieved reductions in the impact of our metal emissions of 31% (to water) and 39% (to air) vs 2009 (target is -20% by 2015)

Product sustainabilityR&D and EHS have introduced an internal tool to assess product/services sustainability, the tool is being tested together with the Business Units

22

Stakeholder engagement

Sustainable procurementIntense supplier screening was conducted for most non raw materials suppliers in 2011. Focus in 2012 will be on business units screening of raw materials suppliers

Local communityCommunity engagement was steppedup in 2011. More than half ofall sites have a structured engagement plan. Our community donations reached a record level in 2011 of €1.75 million, including disaster relief following Japanese tsunami and tornadoes in Oklahoma and Alabama. A new three year partnership has been started with UNICEF.

Umicore in the driver’s seat

24

World automotive production outlookby region

Car production

0

10

20

30

40

50

60

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Source: Umicore estimate based on external data sources

[M vehicles]

Middle East/ AfricaSouth AmericaSouth AsiaChina

Car production

0

10

20

30

40

50

60

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Source: Umicore estimate based on external data sources

[M vehicles]

Japan/ Korea

North America

Europe

Established Markets Emerging Markets

Source: Umicore estimates based on external databases

25

World automotive production scenariosby drivetrain

Scenario 1

60

70

80

90

100

110

2011

2012

2013

2014

2015

2016

2017

2018

2019

[M vehicles]

Scenario 3

60

70

80

90

100

110

2011

2012

2013

2014

2015

2016

2017

2018

2019

[M vehicles]

0 0

60708090

100110

2011

2012

2013

2014

2015

2016

2017

2018

2019

Source: Umicore estimate based on external data sources

Electric Vehicle (EV)

PHEV (Plug-in Hybrid Electric Vehicle)

HEV (Hybrid Electric Vehicles)

ICE (Internal Combustion Engine-powered vehicle)

26

EU 2050 CO2 roadmap

27

Reduction targets exist in most regions

95

Europe

-38%154 152

USA

-37%240

109

Japan

-23%141145

China

-22%185

Source: Continental (2011)

CO2 emission targets for passenger vehicles[g/km]

130

181

125

167

20

10

20

15

20

20

20

10

20

15

20

20

20

10

20

15

20

20

20

10

20

15

20

20

actual

proposed

enacted

estimated

28

Different engine configurationswill be needed to reach the 2050 goals

100

50

150

00 400 600200 800 1000 1200 1400

CO2

emission[g/km]

Range[km]

ICEdiesel

ICEgasoline

PHEV

FCEV

BEV

2010

2050

2010

2050

2010

2050

2010

2050

2010

2050

EU 2015target

EU 2020target

ICE Internal Combustion Engine-powered vehicle

BEV Battery-powered Electric Vehicle

HEV Hybrid Electric Vehicle

PHEV Plug-in Hybrid Electric Vehicle

FCEV Fuel Cell-powered Electric Vehicle

Source: A portfolio of power-trains for Europe: A fact-based analysis (EU coalition study 2010)

29

Umicore’s product offer covers all powertrain possibilities

ICE HEV PHEV EV

Normal Start-stop Mild FullParallelsystem

Rangeextender

BEV FCEV

Emission control catalyst

Relativesize +++ +++ +++ ++ ++ +

No emissioncontrol catalyst

Relativecomplexity

+ + + ++ +++ +

Battery

Relativesize + + ++ ++ +++ ++

Relativecomplexity

+ ++ +++ ++ ++ ++

Fuel cell

No fuel cell +++

31

Global leadershipposition

Regional positions

Market leader(#1 or #2 position)

Smaller player(distant #3)

Circles indicative of 2011 light duty vehicle production volumes ( catalyst revenues)

Automotive Catalysts

NorthNorthAmericaAmerica

EuropeEurope

ChinaChina

KoreaKorea

SouthSouthAmericaAmerica

JapanJapan

IndiaIndia

RussiaRussia

AustraliaAustralia

32

Automotive Catalysts

Umicore has built a leading position in light duty catalysis – especially for complex engine types including hybrid vehicles

Complexity set to increase further: NOx after-treatment, gasoline particulate filters, hydrocarbon traps etc

Umicore has specific expertise in catalysis for alternative fuels

Ongoing positioning in HDD and steady stream of contract wins

Catalyst requirements are becoming ever more complex

33

Rechargeable battery materials

Extensive product and IP portfolio:LCO, NMC, LFP

Broad production footprint close to customer base

Strong track record in rapid production upscaling

Automotive industry TS16949 quality standard

Already present on more than a dozen electrified automotive platforms

The Cheonan plant has been expanding rapidly to meet customer demand

Li-ion cathode production

2000

2005

2010

2011

2012

Umicore figures (estimate for 2012)

[tonnages]

34

Fuel Cells

Umicore Precious Metals Chemistry produces electrocatalysts

Solvicore JV develops membrane electrode assemblies (MEAs)

Umicore focus is long term and increasingly on automotive applications

A fuel cell future would require a combination of catalyst and battery materials know-how: ideal for Umicore

Recycling would also be essential: a fuel cell contains 10-20g of Pt vs 3g for an automotive catalyst

35

Recycling

Umicore is unique in its recycling capabilities relating to the sustainable powertrain roadmap

Automotive catalysts

Batteries

Fuel cells

Tightening legislation eg ELV and Battery Directives in EU

Materials scarcity and traceability are also becoming drivers in the recycling landscape (eg REE)

Umicore’s battery pre-processing line in Hanau

36

Umicore is in the driver’s seat

Automotive catalysts

Battery materials

Fuel cell materials

Recycling

37

Umicore is in the driver’s seat

Automotive catalysts

Battery materials

Fuel cell materials

Recycling

ICE

38

Umicore is in the driver’s seat

Automotive catalysts

Battery materials

Fuel cell materials

Recycling

HEV

39

Umicore is in the driver’s seat

Automotive catalysts

Battery materials

Fuel cell materials

Recycling

BEV

40

Umicore is in the driver’s seat

Automotive catalysts

Battery materials

Fuel cell materials

Recycling

FCEV

42

Forward-looking statements

This presentation contains forward-looking information that involves risks and uncertainties, including statements about Umicore’s 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 Umicore.

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.

As a result, neither Umicore nor any other person assumes any responsibility for the accuracy of these forward-looking statements.