Analysts' and Investors' Conference Call November 7, 2012

1. Klöckner & Co SE
A Leading Multi Metal Distributor
Q3 2012 Results
Analysts’ and Investors’ Conference CallCEO/CFO
Gisbert Rühl
November 7, 2012

2. Disclaimer
This presentation contains forward-looking statements which reflect the current views of the management of
Klöckner & Co SE with respect to future events. They generally are designated by the words “expect”, “assume”,
“presume”, “intend”, “estimate”, “strive for”, “aim for”, “plan”, “will”, “strive”, “outlook” and comparable expressions and
generally contain information that relates to expectations or goals for economic conditions, sales proceeds or other
yardsticks for the success of the enterprise. Forward-looking statements are based on currently valid plans, estimates
and expectations. You therefore should view them with caution. Such statements are subject to risks and factors of
uncertainty, most of which are difficult to assess and which generally are outside of the control of Klöckner & Co SE. The
relevant factors include the effects of significant strategic and operational initiatives, including the acquisition or
disposition of companies. If these or other risks and factors of uncertainty occur or if the assumptions on which the
statements are based turn out to be incorrect, the actual results of Klöckner & Co SE can deviate significantly from those
that are expressed or implied in these statements. Klöckner & Co SE cannot give any guarantee that the expectations or
goals will be attained. Klöckner & Co SE – notwithstanding existing obligations under laws pertaining to capital markets –
rejects any responsibility for updating the forward-looking statements through taking into consideration new information
or future events or other things.
In addition to the key data prepared in accordance with International Financial Reporting Standards, Klöckner & Co SE is
presenting non-GAAP key data such as EBITDA, EBIT, Net Working Capital and net financial liabilities that are not a
component of the accounting regulations. These key data are to be viewed as supplementary to, but not as a substitute
for data prepared in accordance with International Financial Reporting Standards. Non-GAAP key data are not subject to
IFRS or any other generally applicable accounting regulations. Other companies may base these concepts upon other
definitions.
2

3. Overview Q3 and update on strategy01
Financials Q3 2012
Outlook
Appendix
02
03
04
Agenda
3

4. Overview Q3 and ytd 2012
• Strong organic turnover growth in the US compensated turnover decline in Europe
resulting in flat Group’s turnover in Q3 yoy; seasonal decline Q3 vs. Q2 (-5.3%)
• European turnover in Q3 down -4.6% yoy better than market (-9%) despite closures and
exiting low margin business, ytd -5.9% vs. market of -9%
• Turnover growth in Q3 in US +9.4% vs. market -1.9% yoy, ytd +6.7% (w/o acquisition) vs.
market of +3.3%
• Sales in Q3 -2.0% yoy at €1,847m, ytd +7.4%
• EBITDA in Q3 at €19m below guidance of €25-35m given further price pressure in
September and missing recovery after summer, ytd €117m before restructuring costs
• Free CF in Q3 slightly positive (+€2m)
• EBITDA contribution of restructuring program €12m in Q3 or €37m since program start
• Scope of restructuring measures with reduction of about 60 sites and more than 1,800
headcounts to be significantly expanded to an annual EBITDA-impact of ~€150m with big
swing in 2013 and fully effective from 2014 on
4
01

5. Continued price erosion weighed steadily on margins
5
01
Source: Steel Business Briefing, Eurometal, MSCI, Worldsteel, own estimates
HRC/To indexed vs. Gross-margin
Europe in € North America in USD China in Renminbi
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
21.0 20.6 22.3 17.9 16.8 17.6 17.7 17.3 16.6
Europe
• 8% decline of steel distribution‘s turnover expected
in 2012
• Drain on margins in connection with declining prices
due to widening oversupply
US
• 3-4% growth of steel distribution turnover expected
in 2012
• Nevertheless, overcapacities and import pressure
being reflected in the margins
Steel prices:
50
60
70
80
90
100
110
120
130
140
150
160

6. Against the background of the current market situation today‘s focus is on business
optimization and organic growth
6
01
Business
optimization
Organic
growth
strategy
Currentfocus
External
growth
strategy
• Full implementation of significantly extended restructuring
program
• Reduction of ~60 sites
• Workforce reduction of >1,800
• Increasing share of value added services and higher margin
products around core business
• Increasing share of value added services and higher margin
products around core business
• Realizing synergies especially in purchasing

7. Total impact of ~€150m annual EBITDA-contribution targeted from 2014 on
7
01
• Workforce reduction of >1,800
• Reduction of ~60 sites
• Disposal of ~€500m sales in low margin business
• 50/50 impact on personnel costs and Opex
• Reducing NWC by €140m
• Incremental one-off costs of ~€60m will be booked by at
least 2/3 in Q4 and financed by release of NWC
• 800 employees reduced
• 20 sites reduced
• ~€25m sales reduced
• €70m NWC release
• €37m EBITDA impact realized since program start;
€12m in Q3
Program measures Achieved by end of September
Annual incremental EBITDA-impact
2013
2014
€50m€37m
already realized
€60m
€40m
Total annual EBITDA-impact of ~€150m
2011-2012

8. Sites with poor contribution margins even in better market conditions will be closed –
more attractive business handed over to adjacent sites
8
01
• Sites with poor contribution margins before full
allocation of central overheads even in better
market conditions are earmarked for permanent
closures
• Typically, we keep the local sales force for the
more attractive business and supply our
customers from adjacent sites
• Experience shows that between 1/2 and 2/3 of
sales can be maintained
• The expanded restructuring program will result in
a reduction of about 60 sites following this
approach of which 20 have been cut already
• Closure of sites predominantly financed by
release of NWC
 Selective approach results in significant profit
improvement with limited loss in market share
Site2
Site1
Site3
Site4

9. Optimizing and gradual expansion of core business towards higher and more stable
margins
9
01
Optimizing current core business
• Significant reduction of indirect overheads
• Improving productivity in warehousing and reduction of logistics
costs
• Selective closure of sites with negative contribution margins
 Main target is to improve efficiency and reduce costs
Selective expansion of value added services
• Mainly targeting existing accounts with known demand
• Low risk investments in new equipment with known technologies
(plate burning, sawing, painting, etc.)
 Main target is to increase margins and reduce volatility
Selective expansion of product range
• Expanding product range around core offering by more
specialized products (country specific approach depending on
experience of sales force)
• Leverage existing customer base served by existing sales force
 Main target is to increase share of higher margin products at
marginal costs
1 3
2
1
2
3Products
Services
Current business scope

10. Overview Q3 and update on strategy01
Financials Q3 2012
Outlook
Appendix
02
03
04
Agenda
10

11. Financials Q3 201202
EBITDA
Sales
Gross profit
Turnover
1,765 Tto
-0.1%
Q3 2011 Q3 2012
1,764 Tto
€1,885m
€1,847m
-2.0%
Q3 2012Q3 2011
€37m
-49.0%
Q3 2012Q3 2011
€19m
€318m
€306m
-3.7%
Q3 2012Q3 2011
11

12. Financials 9M 201202
EBITDA
Sales
Gross profit
Turnover
5,026 Tto
+9.1%
Q1-Q3 2011 Q1-Q3 2012
5,483 Tto
€5,357m
€5,755m
+7.4%
Q1-Q3 2012Q1-Q3 2011
€203m
-42.5%
Q1-Q3 2012Q1-Q3 2011
€117m*
€1,008m
€993m*
-1.4%
Q1-Q3 2012Q1-Q3 2011
12
* Before restructuring costs Restructuring costs

13. EBITDA (€m) / EBITDA-margin (%)
Gross profit and EBITDA02
Gross profit (€m) / Gross-margin (%)
• Gross profit-margin further eroded due to ongoing
price pressure
• EBITDA of €19m not impacted by restructuring costs
which have been postponed to Q4 (France)
13
* Before restructuring costs
61
48
104
62
37
14
45
50*
19
4.3
3.6
6.6
3.3
1.9
0.8
2.3 1.7
1.0
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
294
275
353
337
318 307
344 344*
306
21.0 20.6
22.3 17.9
16.8
17.6
17.7 17.3 16.6
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012

14. Segment performance Q3 201202
Turnover (Tto) Sales (€m) EBITDA (€m)
Turnover (Tto) Sales (€m) EBITDA (€m)
EuropeAmericas
* Restructuring costs of €3m in Q1 and €17m in Q2 and €-1m in Q3
1,0841,029
1,1641,192
1,067
990
1,1051,097
1,018
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
-4.6%
1,1691,104
1,290
1,365
1,251
1,137
1,2231,237
1,149
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
-8.1%
284 289
334
571
698
646
752 766 746
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
+6.8%
232 228
297
520
634 602
722 727 698
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
+10.0%
60
45
81
50
24
12
20* 19*
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
14*
5
7
30
23
15
13
29
21
11
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
14

15. Net income and EPS02
15
Net income (€m)
0.21
0.25
0.65
0.07
-0.11 -0.27 -0.10
0.03**
-0.27
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
EPS basic (€)*
* Adjusted for capital increase
** Before restructuring expenses and impairments
• Net income trails unsatisfying EBITDA
• €28m D&A include ppa effects of €10m in Q3
• Tax benefit of €2.4m less than usual tax rate
of 30%+ due to non-recognition of deferred
tax assets on operating losses
Comments
15 17
44
5
-12
-27
-10
3**
-28
Q3
2010
Q4
2010
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012

16. Free cash flow slightly positive in Q302
Cash flow reconciliation in Q3 2012
(€m)
16
60,0
EBITDA
Change in
NWC Taxes Other
CF from
operating
activities Capex Free CF
Development of net financial debt in Q3 2012
(€m)
* exchange rate effects, interest
Q2 Capex Other* Q3
-582
+12
-10
-16
-596
19
2
-5
-4
12
-10
2
CF from
operating
activities

17. Strong balance sheet02
*Gearing = Net debt/Equity attributable to shareholders of
Klöckner & Co SE less goodwill from business
combinations subsequent to May 28, 2010
**Total capital = net debt plus equity (w/o minorities)
Comments
• Equity ratio of 41%
• Net debt of €596m
• Gearing* at 37%
• Net debt to total capital** at 26%
50%
27.5%
31.1%
23.8%
2.5%
15.1%
Balance sheet total September 30, 2012: €4,354m
40.5%
34.4%
25.1%
Non-current
assets
1,198
Inventories
1,356
Trade receivables
1,035
Other current
assets
109
Liquidity
656
Equity
1,763
Non-current
liabilities
1,497
Current
liabilities
1,094
100%
0%
17

18. Balanced maturity profile despite repayment of Convertible in July 201202
18
Facility (€m) Committed
Drawn amount
September 30, 2012* December 31, 2011*
Bilateral Facilities1) 596 192 126
Other Bonds 14 14 20
ABS 515 215 175
Syndicated Loan 500 227 226
Promissory Note 343 349 349
Total Senior Debt 1,968 997 896
Convertible 20092) 98 89 86
Convertible 20102) 186 166 157
Total Debt 2,252 1,252 1,458
Cash 656 987
Net Debt 596 471
Maturity profile of committed facilities and drawn
amounts (€m)
Committed facilities
Drawn amounts
304
125
1,035
296
492
37
103
472
266
394
2012 2013 2014 2015 Thereafter
*Including interest
1) Including finance lease
2) Drawn amount excludes equity component

19. Overview Q3 and update on strategy01
Financials Q3 2012
Outlook
Appendix
02
03
04
Agenda
19

20. Outlook
• Macro assumptions
• No material changes expected until year-end
• Q4 2012
• Turnover in Q4 expected to be down vs. Q3 due to seasonality and destocking
• EBITDA in Q4 expected to be around Q3’s level before restructuring costs
• Strong positive CF due to NWC release
• FY 2012
• Turnover ~7,100 Tto
• Sales ~€7,450m
• EBITDA before restructuring costs between €130m and €140m
• Net debt <€500m
20
03

21. Overview Q3 and update on strategy01
Financials Q3 2012
Outlook
Appendix
02
03
04
Agenda
21

22. Appendix
22
04
Financial calendar 2013
March 6, 2013 Annual Financial Statements 2012
May 8, 2013 Q1 interim report 2013
May 24, 2013 Annual General Meeting 2013
August 7, 2013 Q2 interim report 2013
November 6, 2013 Q3 interim report 2013
Contact details Investor Relations
Dr. Thilo Theilen, Head of Investor Relations & Corporate Communications
Phone: +49 203 307 2050
Fax: +49 203 307 5025
E-mail: thilo.theilen@kloeckner.com
Internet: www.kloeckner.com

23. Quarterly results and FY results 2007-2012
23
04
(€m)
Q3
2012
Q2
2012
Q1
2012
Q4
2011
Q3
2011
Q2
2011
Q1
2011
Q4
2010
Q3
2010
FY
2011
FY
2010
FY
2009
FY
2008
FY
2007
Turnover (Tto) 1,764 1,863 1,857 1,636 1,765 1,763 1,498 1,318 1,368 6,661 5,314 4,119 5,974 6,478
Sales 1,847 1,964 1,945 1,739 1,885 1,885 1,587 1,332 1,401 7,095 5,198 3,860 6,750 6,274
Gross profit 306 340 344 307 318 337 353 275 294 1,315 1,136 645 1,366 1,221
% margin 16.6 17.3 17.7 17.6 16.8 17.9 22.3 20.6 21.0 18.5 21.9 16.7 20.2 19.5
EBITDA 19 33 45 14 37 62 104 48 61 217 238 -68 601 371
% margin 1.0 1.7 2.3 0.8 1.9 3.3 6.6 3.6 4.3 3.1 4.6 -1.8 8.9 5.9
EBIT -9 -23 18 -18 8 36 86 24 39 111 152 -178 533 307
Financial result -21 -18 -24 -21 -22 -21 -19 -19 -16 -84 -67 -62 -70 -97
Income before taxes -30 -41 -6 -39 -15 15 66 5 22 27 84 -240 463 210
Income taxes 2 3 -4 12 3 -9 -22 12 -7 -17 -4 54 -79 -54
Net income -28 -38 -10 -27 -12 5 44 17 15 10 80 -186 384 156
Minority interests -1 0 0 -1 -1 0 1 1 1 -1 3 3 -14 23
Net income KlöCo -27 -38 -10 -27 -11 5 43 16 14 12 78 -188 398 133
EPS basic (€) -0.27 -0.38 -0.10 -0.27 -0.11 0.07 0.65 0.25 0.21 0.14 1.17 -3.61 8.56 2.87
EPS diluted (€) -0.27 -0.38 -0.10 -0.27 -0.11 0.07 0.60 0.25 0.21 0.14 1.17 -3.61 8.11 2.87

24. Balance sheet as of September 30, 2012
24
04
Comments(€m) September 30, 2012 December 31, 2011
Non-current assets 1,198 1,295
Inventories 1,356 1,362
Trade receivables 1,035 922
Cash & Cash equivalents 656 987
Other assets 109 140
Total assets 4,354 4,706
Equity 1,763 1,843
Total non-current
liabilities
1,497 1,526
thereof financial liabilities 1,095 1,068
Total current liabilities 1,094 1,337
thereof trade payables 725 750
Total equity and
liabilities
4,354 4,706
Net working capital 1,666 1,534
Net financial debt 596 471
Shareholders’ equity:
• Stable at 41%
Financial debt:
• Gearing at 37%
• Gross debt of €1.3bn and
cash position of €0.7bn
result in a net debt position
of €596m
NWC:
• Increase mainly due to
seasonal effects

25. Profit & loss Q3 2012 vs. Q3 2011
25
04
(€m) Q3 2012 Q3 2011 ∆ in %*
Sales 1,847 1,885 -2.0
Gross profit 306 318 -3.7
Personnel costs -154 -148 -4.5
Other operating expenses -140 -146 +4.1
EBITDA 19 37 -49.0
Depreciation, Amortization, Impairments -28 -29 +5.2
EBIT -9 8 -216.8
Financial result -21 -22 +5.0
EBT -30 -15 -103.0
Taxes 2 3 -24.0
Net income -28 -12 -136.5
Minorities -1 -1 +32.2
Net income attributable to KCO shareholders -27 -11 -150.5
* earnings impact

26. Segment performance Q3 2012
26
04
(€m) Europe Americas HQ/Consol. Total
Turnover (Tto)
Q3 2012 1,018 746 1,764
Q3 2011 1,067 698 1,765
∆ % -4.6 6.8 -0.1
Sales
Q3 2012 1,149 698 1,847
Q3 2011 1,251 634 1,885
∆ % -8.1 10.0 -2.0
EBITDA
Q3 2012 15 11 -7 19
% margin 1.3 1.6 1.0
Q3 2011 24 15 -2 37
% margin 2.0 2.3 1.9
∆ % EBITDA -39.4 -26.0 -49.0

27. Acquisitions shift exposure towards more promising regions and products
27
04
24% Long productsQuality steel/Stainless steel 8%
Aluminium 7%
Tubes 6%
42% Flat productsOthers 13%
Sales by product
28% USA
France/Belgium 16%
Switzerland 13%
UK 6%
28% Germany/EEC
Spain 4%
Sales by markets
Netherlands 3%
Brazil 1%
China <1%
Machinery and mechanical
24% engineering
Miscellaneous 11%
Local dealers 10%
Household appliances/
Consumer goods 7%
37% Construction industry
Automotive industry 11%
Sales by industry
As of December 2011

28. Current shareholder structure
28
04
Geographical breakdown of identified
institutional investors
Comments
• Identified institutional investors
account for 46%
• US investors incl. retail dominate
• Top 10 shareholdings represent
around 30%
• Retail shareholders represent 35%
• 100% freefloat
As of September 2012
Other EU 17%
US 33%
Other World 8%
Switzerland 4%
Germany 27%
France 8%
UK 3%

29. Our symbol
the ears
attentive to customer needs
the eyes
looking forward to new developments
the nose
sniffing out opportunities
to improve performance
the ball
symbolic of our role to fetch
and carry for our customers
the legs
always moving fast to keep up with
the demands of the customers
29