Remuneration Presentation AGM 2018

1. AMG ADVANCED METALLURGICAL GROUP N.V.
ANNUAL GENERAL MEETING 2018
REMUNERATION REPORT 1

2. Review of AMG Compensation System 3
Review of 2017 Bonus Results 6
Review of Long Term Incentives 8
AMG Market Capitalization 10
Compensation Observations 11
Main Results Review Willis Towers Watson 12
2

3. A l l c o m p o n e n t s a r e d e t e r m i n e d
b y m a r k e t d a t a d e r i v e d f r o m
c o m p a r i s o n wi t h a g r o u p o f
c o m p a n i e s , k n o wn a s a p e e r
g r o u p .
C OMPON EN TS OF MAN AGEMEN T BOAR D
R EMU N ER ATION 2017
3
ANNUAL BONUS
(SHORT TERM
INCENTIVE (STI))
BASE SALARY LONG TERM
INCENTIVES
• Stock Options (SO)
• Performance Share Units
(PSU)

4. PEER GR OU P C ON SID ER ATION S
• The Peer Group was reviewed and changed in 2016 upon advice of Willis Towers Watson,
our independent compensation consultant. This peer group is unchanged in 2017.
– 17 Companies
• 11 U.S.
• 4 UK
• 2 European
– Metals, Specialty Chemicals and Technologies
– Public Data analyzed by Willis Towers Watson
– These 17 companies are ones AMG competes with for sales and executive talent
• Compensation Target: 50th – 60th percentile of the Peer Group
• AMG follows a US centric approach in determining executive compensation
4

5. SH ORT TER M IN C EN TIVES ( STI) 2017
5
B a s e d o n a n n u a l b u d g e t a p p r o v e d b y t h e S u p e r v i s o r y B o a r d
Weight STI Metric
40% ROCE
40% Operating Cash Flow
20% Personal Targets
100%
As % of Salary
Target Bonuses Market P50
85% CEO 100%
65% COO 75%
65% CFO 75%
O u r t a r g e t b o n u s e s a r e
b e l o w t h e 5 0 t h p e r c e n t i l e
o f o u r p e e r g r o u p

6. 2 0 1 7 B O N U S R E S U LT S
METRIC PERFORMANCE WEIGHT PAYOUT
ROCE 300% 40% 120%
Op Cash Flow 261% 40% 104%
Individual 280% 20% 56%
280%
6
We had a ver y good year for per for mance

7. 2 0 1 7 B O N U S B Y M A N A G E M E N T B O A R D M E M B E R
MANAGEMENT BOARD
MEMBER
TARGET BONUS % PERFORMANCE
PAYOUT
PERCENTAGE
Schimmelbusch 85% 280% 238%
Jackson 65% 280% 182%
Dunckel 65% 280% 182%
7
MANAGEMENT BOARD
MEMBER
BASE SALARY
PAYOUT
PERCENTAGE
BONUS AMOUNT
Schimmelbusch $1,032,400 238% $2,457,112
Jackson $635,960 182% $1,157,447
Dunckel $635,960 182% $1,157,447

8. LON G TER M IN C EN TIVES ( LTI)
8
20% Stock Options (SO)
• Must pass 3 year average ROCE threshold to vest
• Then vest:
− 50% after 3 years
− 50% after 4 years
• 10 year life term
80% Performance Share Units (PSU)
• Must pass 3 year average ROCE threshold to vest
• Measured on Total Shareholder Return (TSR)
• Payout based upon relative performance to the Bloomberg World Metal
Fabricate/Hardware Index

9. LON G TER M IN C EN TIVES: PER FOR MAN C E SH AR E
U N ITS ( PSU )
9
2014 & 2015
2013
TSR below 25 percentile of peers, 0% vested
Only 25% of PSUs vested and paid out
2016 TSR at 60th percentile of the Bloomberg Index which yielded a 115%
payout and vested in April 2016 (PSU award 2013)
I n 2 0 1 7 a n d 2 0 1 8 , A M G ’ s s t o c k p r i c e p e r f o r m a n c e w a s a t t h e 9 0 t h
p e r c e n t i l e o f t h e B l o o m b e r g W o r l d M e t a l F a b r i c a t e / H a r d w a r e I n d e x
2017 TSR at 90th percentile of the Bloomberg Index which yielded a 175%
payout and vested in April 2017 (PSU award 2014)
PSU’s: pay-out is based on TSR measured over a three year period against the Bloomberg
World Metal Fabricate/Hardware Index
2018 TSR at 90th percentile of the Bloomberg Index which yielded a 175%
payout and vested in April 2018 (PSU award 2015)

10. 2 0 1 5 – 2017 AMG MAR KET C APITALIZATION
10
€ 100
€ 450
€ 800
€ 1,150
€ 1,500
AMGMarketCapitalizationin€M
AMG Market Cap
2015 2016 2017
Market
cap:
€187M
Market
cap:
€1,254M
Share
price:
€41.92
Share
price:
€6.75
+ 34%
+ 67%
+ 201%
Note: AMG market capitalization comprises historical data per Yahoo Finance from January 1, 2015 through Dec 29, 2017,
calculated using the 27.6m shares outstanding at the beginning of 2015, and 29.9m shares outstanding as of Dec 29, 2017.
+ €167 M
+ €837 M
+ €63 M

11. C OMPEN SATION OBSERVATION S FOR 2018
• Metrics for 2018 – same as 2017
• Continue to rebalance our components of compensation
– No salary increases
– Maintain emphasis on long term incentives tied to total shareholder return
11

12. C EO PAY- FOR - PER FOR MAN C E ALIGN MEN T
• AMG’s earned pay, which captures the value of incentive plan payouts, stock awards at vesting, and
stock options at exercise, is considered along with TSR performance relative to peers
• Pay and TSR are both the highest among the peers
12
AMG
0%
25%
50%
75%
100%
0% 25% 50% 75% 100%
Compensation%ile
TSR Performance %ile
Peer Group Pay vs. Performance
3-Yr CEO Earned Pay
3-YrCEOEarnedPay
Potential misalignment:
Low performance/ high pay
Potential misalignment:
High performance/ low pay

13. R ELATIVE FIN AN C IAL PER FOR MAN C E
C ON SID ER ATION S
• Relative performance has also been strong, as reviewed under the measures US proxy advisors ISS
and Glass Lewis review*
– Top quartile income statement growth
– Operating cash flow growth is the only measure below median
– Median or better returns
– Best-in-class TSR
13*ISS revised its financial performance assessment in 2018, and no longer reviews revenue growth (which was included in our prior analysis)
0%
25%
50%
75%
100%
EBITDA Growth EPS Excl Extra/Disc
Growth
Operating Cash Flow
Growth
RONA (EBIT) ROCE (Net Income) ROIC Total Shareholder
Return
AMG %ile
3-year performance in measures ISS and Glass Lewis review
Source: S&P’s Capital IQ database

14. TOTAL SH AR EH OLD ER R ETU R N ( TSR ) PER FOR MAN C E
14
Total Shareholder Return
-50%
0%
50%
100%
150%
200%
2015 2016 2017
25th %ile Median 75th %ile ENXTAM:AMG
Total Shareholder Return
Indexed: 2014 = 100
0
100
200
300
400
500
600
700
2014 2015 2016 2017
75th %ile
Median
25th %ile
ENXTAM:AMG
Source: S&P’s Capital IQ database
AMG’s shareholder return over the last three years is far above all peers