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AMG Critical Materials N.V.

Investor Presentation • May 13, 2009

3810_ip_2009-05-13_1a6f8985-a9cb-477e-9ec3-3a974f82e7af.pdf

Investor Presentation

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AMG Advanced Metallurgical Group N.V.

Annual General Meeting13 May 2009

Disclaimer

THIS DOCUMENT IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION BY AMGADVANCED 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 at a Glance

  • ■ Preeminent global specialty materials and materials technology company serving growing end-markets
  • ■ Advanced Materials Division: Niche and complex specialty materials
  • ■ Engineering Systems Division: Advanced vacuum furnace systems for high-purity metals
  • ■ Timminco (53.8%-owned): (1) Solar grade silicon and silicon metal
  • ■ Graphit Kropfmühl (79.5%-owned): Integrated miner of natural graphite and producer of silicon metal
  • ■ 2008 FY Results: Revenue up 31% to \$1,518 million and EBITDA up 55% to \$185 million

2008 Business Highlights

■

  • Acquired 79.5% of Graphit Kropfmühl
  • ■ Established full scale nuclear technology business
  • won contract from Shaw Areva/ U.S. DOE
  • ■ Timminco shipped 1,045 mt of Upgraded Metallurgical (UMGSi) solar silicon in 2008
  • ■ Cash of \$143 million and debt at \$232 million at Dec 2008
  • –Net debt of \$89 million at year end 2008
  • ■ Market conditions are challenging in 2009
  • The Advanced Material Division is implementing an 18% reduction in staffing
  • The Engineering Systems Division and GK are also implementing staffing reductions

Strategic Overview

AMG's strategy is to increase shareholder value through focusing on global CO2 reduction technologies and industries – Solar, Fuel Efficiency, Recycling and Nuclear

Global Operations

Global presence enables access to key growth markets

Note: This chart is a simplified depiction of AMG's organisational structure.

  • (1) Timminco Limited is listed on the Toronto stock exchange (TIM CN / TIM.TO).
  • (2) Graphit Kropfmühl AG ("GK") is listed on the Frankfurt stock exchange (GKRG.DE / GKR GR).

Stabilization Wedges as they relate to AMG

Focus on CO2Technologies and Markets

Solar

  • Furnace technology leadership for the production of solar silicon wafers
  • Low-cost producer of UMG solar silicon based on proprietary technology
  • Producer of silicon metal feedstock used to manufacture polysilicon

Recycling

  • Spent refinery catalyst and power plant residue recycling used to produce ferrovanadium and ferronickelmolybdenum and vanadium alloys
  • Long-term contract for spent catalysts supports long term capacity expansion plans

Fuel Efficiency

  • Proprietary alloys and superalloys for aerospace applications
  • Furnace technology for production of titanium and other weight-advantaged alloys

Nuclear

  • Sintering furnaces for nuclear fuel and related furnaces for the nuclear fuel cycle
  • Furnaces and process technology for pebble bed reactors
  • Graphite produced by GK is a critical input for nuclear components

We are an innovation driven organization. In 2009, however, our primary focus will be on improving operations, cost reductions and cashflow generation.

Market Environment

AMG significant price trends

AMG has seen declines in almost all specialty metals prices

Cost Savings

AMG headcount by unit

Failure to innovate is our biggest risk. 50%(1) of 2008's revenues are derived from products and processes that didnot exist 5 years ago.

Recycling – Ferro Vanadium for lighter, stronger steel

Innovation drives margin expansion and increase in revenues and earnings

Solar – Rotatable targets for TCOs for thin films

Solar – DSS furnaces for the production of ingots

Fuel Efficiency – Gamma Ti Aluminides for Aerospace

2000 Rev: \$0.7mn

2008 Rev: \$1.5mn

Nuclear – technologies to store waste

2009 Outlook

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AMG Advanced Metallurgical Group N.V.

Annual General MeetingMay 13 2009

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