Eramet : 2023 Essential Brochure

ESSENTIALS

CORPORATE

MISSION /

To become a leader in the responsible transformation of the Earth's mineral resources for the benefit of all.

THE GROUP'S CORPORATE MISSION AS VIEWED BY THE MEMBERS

OF THE EXECUTIVE COMMITTEE

"Becoming the leader in this new era of metals, driving economic development and the

Because the availability and quality of raw materials are crucial to the ecological and energy transition, we are mobilizing to address this.

Because we are convinced that the environmental issue cannot be tackled without addressing societal issues head on, we are taking action.

Underpinning these values and our efforts is our corporate mission:

To become a leader in the responsible transformation of the Earth's mineral resources for the benefit of all.

This statement reflects our aim of being an effective, committed and civic-minded agent for change. It guides all our strategic decisions and boosts our creativity and agility.

Whether it is contributing to the circular economy, controlling our energy use and emissions, strategically repositioning ourselves to produce metals that are essential to the ecological transition, sharing added value, or preserving

biodiversity, this philosophy embodies our vision as a company. It provides a foundation for the way we think about people, be they our employees- whose safety

is our priority-, the communities in the areas where we operate -to which we are committed-or, more broadly, the public for whom these metals are essential in terms of their personal and collective well-being.

This statement acts as a compass orienting us with regard to

the most important challenges that lie ahead: meeting the needs of current and future generations by supplying metals for the energy transition and economic development, ensuring responsible supply, and carefully managing the Earth's resources.

We are Eramet.

Resolutely committed to becoming a key player in the mining and metallurgical industry and creating the conditions for sustainable harmony between humankind and the Earth.

"It's about making the work performed by each of our employees meaningful, which is essential to their sense of personal fulfillment and performance."

Anne-Marie le Maignan,

Executive Vice-President Human Resources, Health & Security

#PEOPLEFIRST

"Creating sustained value, for the Group, for its teams and for its partners."

Nicolas Carré,

Chief Financial Officer,

in charge of Procurement and IT

#SUSTAINEDVALUECREATION

"Providing the world with the metals needed for the development of society and for decarbonization."

Geoff Streeton,

Chief Development Officer, in charge of Strategy, Innovation and Business Development

#SUSTAINABLEMETALS

"It's about building a path to operational excellence that is always synonymous with CSR excellence."

Virginie de Chassey,

Chief Sustainability

and External Affairs Officer

#RESPONSIBLEMINING

energy transition in order to make a better future for everyone."

Kleber Silva,

Chief Operating Officer

#BETHEBENCHMARK

"Writing a new chapter in the history of Eramet."

Christel Bories,

Chair and CEO

#ERAMETPEOPLE

"Being a trusted and exemplary company and partner in all our areas of activity."

Guillaume Vercaemer,

General Counsel

#PREFERREDPARTNER

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"AFTER A RECORD YEAR AND THE FINALIZATION OF OUR STRATEGIC

REFOCUSING, ERAMET IS NOW POSITIONNED AS A responsible

upstream playerIN THE METALS VALUE chain."

INTERVIEW WITH CHRISTEL BORIES, CHAIR AND CEO OF THE ERAMET

GROUP / Eramet's strategic roadmap, focused on its mining and metallurgical activities, has allowed it to confirm its ambition of becoming a leader in the responsible transformation of the Earth's mineral resources for living well together. Analysis and outlook.

You have finalized the Group's strategic repositioning. What are the broad lines of your long-term vision?

C. B. : We have completed our strategic refocusing around our core business. Eramet is now positioned as a responsible upstream player in the metals value chain, backed by a core set of high-quality,growth-generating assets. Our current strategy revolves around two components: the metals necessary for global economic development, and metals for the energy transition. Thanks to our strong financial situation, we are currently accelerating our promising growth projects for this second component. With regard to lithium,

the start of production in Argentina is scheduled for 2024.

And we are already working on tripling the facility's production capacity, to make it one of the world's largest lithium mines. As for nickel-cobalt salts for batteries, we are continuing to carry out feasibility studies for our project in Indonesia,

in partnership with BASF.

the well-being of our communities, we are missing the point! Today, we are acknowledged by our clients and by the countries and the communities where we operate as being a responsible and respectful company that invests in and contributes to the regions in which it is based. There is still work to be done, but we are ready to have our mining model assessed by independent third parties in a perfectly transparent way. That is why we are a member of the Initiative for Responsible Mining Assurance (IRMA), the only standard that assesses the entire life cycle of a mine to certify it as "responsible," whether

in terms of ethics, human rights, social responsibility, or respect for the environment. Self-assessments have already been undertaken by our sites in New Caledonia, Indonesia and Argentina, and a first external audit is in progress in Senegal. We have set the target of having all of our mining sites audited by 2027.

What are your plans for the Group's

on a number of other fronts: increasing the number of women in our workforce -today, 26% of our managers are women, and we aim to reach 30% in the near future-and promoting diversity and inclusion, by undertaking to welcome and integrate all talented people, regardless of age, gender, origin,

sexual orientation, disability and religious convictions. We want everyone to be able to express themselves fully at Eramet!

In recent years, we have taken a number of steps in favor of equal opportunities and well-being in the workplace,

which benefit all in line with our corporate mission. In early 2023, we added sexual orientation to our Ethics Charter as a ground for discrimination recognized

by the Group. Investing in our human resources is essential to support the Group's growth and attract new talent.

What does 2023 hold in store?

C. B. : The global context in which we have been operating for the past few years and the weaker environment

The year 2022 was a record-breaking year in Eramet's history. Can you tell us about the Group's main achievements?

Christel Bories : 2022 was a record year for Eramet in several areas-starting with our record-breaking financial performance: our adjusted EBITDA rose by 58% to €1.9 billion and, despite sustained investments, we generated €824 million in free cash flow, which enabled the Group to significantly reduce its debt. These results were underpinned by excellent operating performance for manganese in Gabon and nickel in Indonesia, as well as by a very supportive environment in the first half of the year.

In terms of CSR, we exceeded several targets in our roadmap, and our strong performance was once again recognized by the main extra-financial rating agencies. I would particularly like to point out our excellent results in the area of safety, which positioned Eramet

as a leader in its sector.

Once again, this first-rate performance reflected the commitment of our teams in a year marked by a series of crises.

I am very proud of all the work we have accomplished together to make Eramet a strong group that is now ready to enter a new growth phase.

Moreover, we have projects underway in Europe in the areas of geothermal lithium and battery recycling.

Our corporate mission, strategy and CSR roadmap all converge towards a single goal: making Eramet a leader in responsible mining and metallurgy.

What do you mean by responsible mining?

C. B. : To meet the objectives of the energy transition, we need to produce more and produce better. For if we extract

the metals necessary for this transition while emitting high levels of CO2 and neglecting water, biodiversity and

employees?

C. B. : We can't do anything without the women and men who work for the Group! We owe our excellent results to them. Our number one priority is their safety, and our goal is zero accidents. Thanks to the numerous measures implemented in the workplace, we have divided the number of accidents by six within five years. We are now one of the leading companies in our sector from a safety point of view.

One of the pillars of the Group's vision is to become a model employer. In addition to offering well-paid jobs, we are working

in 2023 are requiring that we be vigilant and extremely agile. But I am confident: we have regained our financial freedom, our fundamentals are now extremely sound, and the strategic choices we have made mean that we are well positioned to meet the crucial challenges of the energy transition. Driven by the energy of our teams all around the world, we are forging ahead with the ambition of becoming

a champion in the new era of metals.

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Interview

Interview

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ERAMET AT A glance

Eramet is a key player in the responsible mining of ores and metals and aims

to make a mark on the energy transition market. Our Group boasts exceptional mining reserves, world-class R&D, high-performance industrial

OUR ACTIVITIES

Manganese

High-grade ore, sinter, alloys (silicomanganese and low-carbon silicomanganese; high-, medium- and low-carbon ferromanganese)

Nickel

Ore, ferronickel, nickel ferroalloy, high-purity nickel

Mineral sands

Titanium dioxide

and high-purity cast iron, zircon and ilmenite

Lithium

Lithium carbonate (beginning in 2024)

9,090

EMPLOYEES WORLDWIDE AT THE END OF 2022(1)

facilities, and top-level expertise.

Our customers are leaders in the steel, stainless steel, pigment, energy and next- generation battery industries.

OUR STRATEGIC VISION

SUSTAINABLE

VALUE CREATION

ENTREPRENEUR		BUSINESS PARTNER
		OF CHOICE

OUR STRATEGIC AND CSR AXES

GROWING IN METALS FOR GLOBAL

ECONOMIC DEVELOPMENT

Resilient markets:

Manganese ores & alloys, nickel, mineral sands.

SUSTAINABLE DEVELOPMENT OF CRITICAL METALS FOR THE ENERGY TRANSITION

Rapidly growing markets:

Lithium, nickel/cobalt salts, battery recycling.

72	26%
NATIONALITIES	OF MANAGERS
	ARE WOMEN

€ 5billion €1.9billion

HOME FOR	COMMITTED AND CONTRIBUTIVE
THE BEST TALENT	CORPORATE CITIZEN

DEPLOYMENT OF AN EXEMPLARY CSR APPROACH

Making a commitment to people. Being a responsible economic actor. Making a firm commitment to the planet.

IN REVNUES IN 2022(1)		AJUSTED EBITDA IN 2022(1)

1. In compliance with IFRS 5 "Non-current assets held for sale and dis- continued operations", the financial and non-financial performance indicators provided do not include operations that are in the process of being sold (see chapter 3, notes 2.1 and 3.2 and chapter 6 of the Universal Registration Document). Excluding the IFRS 5 restatement, the Group's revenues amounted to €4.499 billion in 2021; EBITDA was €1.031 million, current operating income was €751 million and FCF was €401 million. Including operations that were being sold, TF2 was down by 46% and the number of employees worldwide stood at 13,373 at the end of 2021.

A LEADING	N	o	1	N	o	1	st	th
INTERNATIONAL			1	4
COMPANY
producer of high-grade	nickel mine	European company	largest producer of titanium
	manganese ore worldwide	worldwide	to develop large-scale	raw materials worldwide
	and the world's leading producer	at Weda Bay	sustainable lithium	and 4th largest producer of
	of refined manganese alloys	(Indonesia)	production	zircon worldwide

€ 824million

FCF IN 2022(1)

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MAP OF OUR mining	Europe
AND METALLURGICAL
FRANCE
SITES
Dunkirk

Eramet Head Office

Eramet Ideas

NORWAY

PROJECT

MINING SITE

TRANSFORMATION

RESEARCH & DEVELOPMENT

HEAD OFFICE

Manganese

Nickel

Mineral sands

Lithium

Kvinesdal,

Porsgrunn,

Sauda

Tyssedal

Americas

UNITED STATES

Marietta	Africa
ARGENTINA

Centenario-Ratones

CAMEROON

	Oceania
	NEW
	CALEDONIA
Asia	Kouaoua, Népoui,
Thio
	Poum, Tiébaghi,

INDONESIA

Doniambo

Weda Bay

Akonolinga

GABON

Moanda

SENEGAL

Diogo

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Map of our sites

Map of our sites

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