This document provides an overview of AMG Advanced Metallurgical Group N.V. for an industrial conference in September 2010. It discusses AMG's financial highlights for the first half of 2010, including revenues of $479 million and EBITDA of $45.9 million. It also summarizes AMG's business segments, products, end markets, notable acquisitions and projects, and financial performance within each segment.

1. Oppenheimer Industrials
Conference
September 2010
AMG Advanced Metallurgical Group N.V.

2. Disclaimer
THIS DOCUMENT IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION BY AMG
ADVANCED METALLURGICAL GROUP N.V. (THE “COMPANY”) AND MAY NOT BE REPRODUCED IN ANY FORM OR FURTHER
DISTRIBUTED TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE. FAILURE TO COMPLY WITH
THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS.
This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire
securities of the Company or any of its subsidiaries nor should it or any part of it, nor the fact of its distribution, form the basis of, or be relied on in connection
with, any contract or commitment whatsoever.
This presentation has been prepared by, and is the sole responsibility of, the Company. This document, any presentation made in conjunction herewith and any
accompanying materials are for information only and are not a prospectus, offering circular or admission document. This presentation does not form a part of,
and should not be construed as, an offer, invitation or solicitation to subscribe for or purchase, or dispose of any of the securities of the companies mentioned
in this presentation. These materials do not constitute an offer of securities for sale in the United States or an invitation or an offer to the public or form of
application to subscribe for securities. Neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any
offer or commitment whatsoever. The information contained in this presentation has not been independently verified. No representation or warranty, express
or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information or the opinions contained herein. The
Company and its advisors are under no obligation to update or keep current the information contained in this presentation. To the extent allowed by law, none
of the Company or its affiliates, advisors or representatives accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any
use of this presentation or its contents or otherwise arising in connection with the presentation.
Certain statements in this presentation constitute forward-looking statements, including statements regarding the Company's financial position, business strategy,
plans and objectives of management for future operations. These statements, which contain the words "believe,” “expect,” “anticipate,” “intends,” “estimate,”
“forecast,” “project,” “will,” “may,” “should” and similar expressions, reflect the beliefs and expectations of the management board of directors of the
Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors,
the achievement of the anticipated levels of profitability, growth, cost and synergy of the Company’s recent acquisitions, the timely development and acceptance
of new products, the impact of competitive pricing, the ability to obtain necessary regulatory approvals, and the impact of general business and global economic
conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein.
Neither the Company, nor any of its respective agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any
of the forward-looking statements contained in this presentation.
The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice.
This document has not been approved by any competent regulatory or supervisory authority.
AMG ADVANCED METALLURGICAL GROUP N.V. 2

3. Introduction
 Listed on NYSE-Euronext Amsterdam (Euronext: AMG)
 Products
 High purity metals and complex metal products
 Vacuum furnaces used to produce high purity metals
 2010 H1 2010 June 30
 Revenues - $479.3 million
 EBITDA - $45.9 million, 9.6% margin
 EPS of $0.31 (1)
 Net debt - $119.7 million
 Capital Investment - $11.9 million
 Global presence
 Europe, North America, South America and Asia
 2,500 employees
Sustainable Metals Technology
(1) Excluding AMG’s 42.5% ownership in Timminco Limited AMG ADVANCED METALLURGICAL GROUP N.V. 3

4. Macroeconomic Trends and Markets
■ AMG participates in the macro economic trend of:
■ Growing demand for natural resources in context of CO2
reduction and sustainable environmental demands for:
■ Responsible energy production and use
■ Emerging market infrastructure
■ Aerospace and light weight materials
■ Specialty metals and chemicals
AMG ADVANCED METALLURGICAL GROUP N.V. 4

5. Products & End Markets
Advanced Materials Engineering Systems
 High-value alloys  Capital equipment for high purity
 Essential raw materials materials
Specialty Metals &
Energy Aerospace Infrastructure Chemicals
AMG ADVANCED METALLURGICAL GROUP N.V. 5

6. End Markets
AMG Advanced Metallurgical Group N.V.
Specialty Metals &
Aerospace Infrastructure Energy
Chemicals
Titanium Alloys Structural Steel Solar Vacuum Furnaces Silicones
Superalloys Specialty Steel Superalloys Paints & Pigments
Turbine Coatings Building Materials Silicon Metal Glass, Tools & Optics
Vacuum Furnaces Nuclear Fuel Vaccum Furnaces Capacitors
Energy Storage Technologies
AMG ADVANCED METALLURGICAL GROUP N.V. 6

7. End Products
Aerospace Infrastructure – Recycling
Ti alloys
(includes VAl) Superalloys
High purity stainless steel
Typical aerospace jet engine
Energy – Solar & Nuclear Specialty Metals & Chemicals
Stackable
Graphite
Blocks
Tantalum based capacitor Paints and pigments
Vacuum furnaces for solar ingot
production
AMG ADVANCED METALLURGICAL GROUP N.V. 7

8. Markets & Products
H1 2010 Revenue by End H1 2010 Revenue by
Market Product
Tantalum &
Niobium Graphite 4%
4%
Chromium
Metal 8%
Aerospace 27%
Vacuum Furnaces
Specialty Metals
26%
& Chemicals 35%
Antimony 10%
FeV & FeNiMo Al Master Alloys
8% 15%
Energy - Solar &
Nuclear 23%
Infrastructure Si Metal 10%
15% Ti Master Alloys
and Coatings
15%
AMG ADVANCED METALLURGICAL GROUP N.V. 8

9. Advanced Materials – Specialty Metals Acquisition
Specialty Metals
Material  Antimony – AMG is the largest producer of antimony trioxide (a flame retardant) in
Europe
Transaction  In August 2010 AMG acquired antimony mining rights and an adjacent antimony metal
smelter in Turkey for a total investment of up to approximately $20 million
Strategic  Secure supply of antimony raw material used in AMG’s antimony trioxide operation
Rationale
 AMG uses approximately 10,000 mt of antimony metal per year
 Antimony metal prices have increased from $4,500/mt in 2009 to $10,000/mt in
2010
 This will result in substantial raw material cost savings in 2011
Competitors  Campine S.A., Chemtura Corporation, Hsikwangshan Twinkling Star Antimony Co. Ltd
Dispersions, Pastes,
Antimony Metal Oxidation Antimony
Granules,
Purchase Process Trioxide Microgranules
AMG ADVANCED METALLURGICAL GROUP N.V. 9

10. Financial Overview
AMG ADVANCED METALLURGICAL GROUP N.V. 10

11. Financial Highlights – H1 2010
2010 H1 Revenues 2010 H1 EBITDA
$479.3 $45.9
$3.2
$62.0
$22.7
$124.8
$20.0
$292.5
Revenue by Geography
North
America
Advanced Materials Engineering Systems GK Advanced Materials Engineering Systems GK
21%
Asia
18%
Europe
56%
South
America
4%
ROW
1%
Revenues and EBITDA in millions AMG ADVANCED METALLURGICAL GROUP N.V. 11

12. Financial Highlights
Revenue Highlights
(in millions)
 Q2 Revenue: $243.5 million
 Up 13% from Q2 2009
 Q2 EBITDA: $23.9 million
$243.5
$231.4 $235.8  Up 8% from Q2 2009
$214.9
$205.4
 Balance sheet highlights at June 30, 2010
 Cash: $84.6 million
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10  Debt: $204.3 million
 Net debt: $119.7 million
EBITDA
 Total liquidity: $163.6 million
(in millions)
$22.2 $22.0 $23.9
$18.6
$12.4
- -
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10
AMG ADVANCED METALLURGICAL GROUP N.V. 12

13. Advanced Materials - Market, Products and Customers
Aerospace Infrastructure - FeV Specialty Metals
Products  Specialty alloys for titanium  Ferro-vanadium  Chromium Metals
 Coatings for wear  Ferro-nickel molybdenum  Tantalum
resistance
 Antimony
 Aluminium master alloys
Competitors  Reading Alloys Inc.  Evraz Group S.A. (Highveld  KBM Affilips B.V.
Steel & Vanadium)
 Evraz Group S.A.  KB Alloys, Inc.
(Stratcor)  Eramet S.A. (Gulf Chemical
 Delachaux S.A.
& Metallurgical Corporation
 Campine S.A.
 Evraz Group S.A. (Stratcor)
 Chemtura Corporation
 Xstrata plc
 Chengde Vanadium &
Titanium Stock Co. Ltd.
Sample Customers
AMG ADVANCED METALLURGICAL GROUP N.V. 13

14. Infrastructure - Pricing
Significant price trends – 10 years
$60
$250
$50
Price / Pound – V, Mo, Ni
$200
$40
$150
$30
$100
$20
$10 $50
$0 $0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Ferro Vanadium Molybdenum Nickel
Prices are still below pre-crisis levels
AMG ADVANCED METALLURGICAL GROUP N.V. 14

15. Advanced Materials
Financial Summary Highlights
( in millions)
Revenue EBITDA ■ Infrastructure - ferrovanadium
$152.0 ■ Reference prices increased 83% v. Q2
$140.5 2009
$124.3 ■ Volumes declined 28% v. Q2 2009
$110.1
■ Aerospace – master alloys prices improved 71%
v. Q2 2009
$95.9
■ CAPEX
■ Expansion of ferrovanadium operations
$8.5
$14.2 in the United States
-$0.5 $5.0 $5.3
■ Expansion of the tantalum and lithium
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10
mine in Brazil
CAPEX
$5.0
$4.2
$3.3
$2.1 $1.9
- - -
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10
AMG ADVANCED METALLURGICAL GROUP N.V. 15

16. Engineering Systems - Market, Products and Customers
Energy - Solar Aerospace Energy - Nuclear
 Solar silicon melting and  Vacuum Melting and Re-  Vacuum Sintering
Products
crystallisation systems melting Systems Systems
(DSS furnaces)
 Precision Casting and
Coating Systems
 Heat Treatment with high
pressure gas quenching
Notable Successes  2001 – Secured furnace  2010 – Market Share leader  Secured first nuclear
exclusivity with REC in Ti remelting in China, the engineering contract with
fastest growing Ti market DOE, through Shaw-Areva
 2005 – Introduced single
crucible furnaces  2010 – Leading market share  Two strategic acquisitions
in turbine blade coating completed to expand product
 2009 – >$172 mm in
portfolio
revenue, 2nd largest
market participant
Sample Customers
AMG ADVANCED METALLURGICAL GROUP N.V. 16

17. Engineering Systems
Financial Summary Highlights
( in millions)
Revenue EBITDA
 Revenue: $59.5 million, 35% decrease quarter
$91.2 over quarter
 Solar silicon DSS furnace revenues
$73.8
decreased 67% in Q2 2010 v. Q2 2009
$65.3
$61.6  EBITDA: $8.0 million
$59.5
 Backlog declined from $162 million at
December 31 2009 to $121 million at June
30, 2010
$22.5  Order backlog is now primarily
$11.0 $5.9 $12.1 $8.0
- - - -
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10
comprised of furnaces for aerospace
end market
 2010 EBITDA is expected to be lower than
CAPEX
2009 due to the decline in backlog
$3.0
$1.7
$1.2 $1.3
$0.8
- - - - -
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10
AMG ADVANCED METALLURGICAL GROUP N.V. 17

18. Graphit Kropfmühl
Financial Summary Highlights
( in millions)
Revenue EBITDA  Revenue: $32.1 million; 17% increase over
$33.7
$33.3
Q2 2009 due to increases in natural graphite
$32.1
$29.9 prices and volumes
$27.3
 EBITDA: $1.7 million
 Consistent with Q2 2009 due to cost
containment measures in natural
graphite and increased revenue
 CAPEX only for graphite milling expansion
$1.7
-
$2.6
- $1.2
- $1.5
- $1.7
-
 Natural graphite being used in energy
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 saving insulation applications
 Silicon metal seeing stronger demand from
CAPEX solar and specialty chemical markets
$1.4
$1.3
$1.0
$0.8
$0.4
- - - - -
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10
AMG ADVANCED METALLURGICAL GROUP N.V. 18

19. Capital Base
Cash and Debt Highlights – June 30, 2010
( in millions)
■ Cash: $84.6 million
Cash Debt
■ Total debt: $204.3 million
$202.3 $203.8 $203.0 $204.3
$193.9 ■ Net debt: $119.7 million
■ Revolver availability: $79.0 million
■ Total liquidity $163.6 million
$124.4
$108.8 $117.0
$98.9
$84.6
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10
Note: Cash includes short term investments
AMG ADVANCED METALLURGICAL GROUP N.V. 19

20. Outlook
■ Advanced Materials
■ Demand from the Aerospace and Energy industries continues to improve from
2009, however prices and volumes for infrastructure have reached a plateau;
■ 2010 revenues and EBITDA will improve significantly
■ Engineering Systems
■ Backlog is bottoming; renewed interest in solar silicon furnaces
■ Lower order backlog will result in lower 2010 revenues and EBITDA
■ Graphit Kropfmühl
■ Natural graphite demand and pricing is improving
■ Timminco
■ AMG owns 42.5% of Timminco
■ Timminco signed an agreement to sell 49% of its silicon metal operations for
$39.7 million; up to $10 million more based upon meeting performance metrics
AMG ADVANCED METALLURGICAL GROUP N.V. 20

21. AMG Advanced Metallurgical Group N.V.