SGL CARBON SE — Investor Presentation 2012

Mar 7, 2012

Investor Relations Presentation

March 2012

Introduction to SGL Group's Businesses

SGL GroupBusiness structure

B M i l t a s e a e r a s	A d d v a n c e	M i l t a e r a s
P f P d t e r o r m a n c e r o u c s ( P P )	G h i M i l & t t r a p e a e r a s S G S ( M ) t y s e m s	C b F i b & a r o n e r s C C C i ( F ) t o m p o s e s
G C h i & b t r a p e a r o n G C E l d ( E ) t e c r o e s C h d F & t a o e s u r n a c e L i i ( C F L ) n n g s	G S G S h i i l i ( ) t t r a p e p e c a e s • P T h l ( P T ) r o c e s s e c n o o g y • N M k ( N M ) t e a r e s w •	C b F i b & a r o n e r s • C i M i l t t o m p o s e a e r a s C C ( F / M ) A ( A S ) t t e r o s r u c u r e s • R B l d ( R B ) t o o r a e s •
T h l d I i ( T I ) & t e c n o o g y a n n n o v a o n

Base MaterialsPerformance Products (PP)

Base M aterial s	Advan ced M	aterial s
Perfor Produ cts mance (PP)	Graph ite Ma terials & System s (GMS )	Carbo n Fibe rs & Compo sites ( CFC)

Base MaterialsPerformance Products (PP)

S l 2 0 a e s –	1 1	H i h l i h 2 0 1 1 t g g s
C h d & t a o e s Fu L i i r n a c e n n g s 1 4 %	G h i & t r a p e C b E l d t a r o n e c r o e s 8 6 %	C i d i i h i l d t t t t o n n e m p r o e m e n n g r a p e e e c r o e u v • l v o u m e s C i f f l l i d M l i h i t t t t t o n s r c o n o n e g r a e a a s a n g r a p e u u y • l ( l d & h d ) i t t t t p a n e e c r o e s c a o e s c o n n e s o n u h d l s c e u e
M d i t e m e r m u -	t t a r g e s	S i i i i t t t r a e g c p r o r e s
V l h t o u m e g r o w : •	2 3 % p. a –	C i d d i j t t t t o n n u e c o s r e u c o n p r o e c s •
R O S : •	1 5 2 0 % –	M j i i i i i l t t t t a o r n a v e o n c r e a s e c u s o m e r v a u e • h h d l i d i t t t t r o u g p r o u c q u a y a n c o n s s e n c y

Performance Products

Graphite electrodes (GE) for steel production in EAFs

Base Materials Advanced Materials Performance Products (PP)Graphite Materials & Carbon Fibers &

• • Growth in steel production fuelled by infrastructure demand from emerging countries
• • Scrap availability limits EAF growth in emerging countries
• • Due to continued efficiency gains GE demand growth only1 – 2% p.a.
• • GE critical to EAF furnace efficiency but only ~3% of steelmaking conversion cost

An EAF (electric arc furnace) is a furnace that heats charged scrap steel material (also known as mini mills)BOF (blast oxygen furnace) is the steelmaking route that uses iron ore and coking coal to produce primary steel (also known as integrated steel)

Performance Products Graphite electrodes

Performance ProductsGraphite electrode production process

• • GE critical to EAF furnace efficiency but only ~ 3%Graphite production of steelmaking conversion cost
• •GE is a consumable – replaced every 5 to 8h
• •GE usually sold mostly in annual contracts
• • Needle coke requirements sourced on basisof multiyear contracts
• Production process takes up to 3 months

Performance ProductsGraphite electrode market

Performance ProductsCathodes for the aluminum industry

• • Aluminum demand driven by:
• Population growth and urbanization
• Further industrialization of BRICs
• Weight / strength / cost advantages in higher energy cost environment
• • Cathodes essential to aluminum smelters
• Existing smelters relining
• Investment good (5 7 years lifetime)
• New smelter construction leading first to project demand and long-term to higher relining demand
• • Existing smelters upgrading
• Amorphous graphitized cathodes
• Only three to four major established producers of graphitized cathodes
• • Cathodes essential for aluminum smelting but representing only 2% of production costs for 1 mt aluminum

Aluminum global production scenarios2003 – 2020 / Above pre-crisis scenarios

Fundamentals for Aluminum production growth are solid. Various new Projects under construction and additional feasibility studies for capacity increase underway.

Performance ProductsCathodes for the aluminum industry

Performance ProductsMarket shares in cathodes 2011

• • Increasing cathode demand due to new projects.
• • In Western World disproportional growth for graphitized cathodes due to higher efficiencyand yield advantages
• • Graphitized cathodes industry highly concentrated (only 3 – 4 established players)

Investor Relations PresentationPage 12

Base Materials

Performance Products (PP)

Advanced Materials

Graphite Materials &

Carbon Fibers &

Advanced MaterialsGraphite Materials & Systems (GMS)

Advanced MaterialsGraphite Materials & Systems (GMS)

S l 2 0 1 1 a e s –		H i h l i h 2 0 1 1 t g g s
N M k t e a r e s w 1 1 % S P r o c e s s T h l e c n o o g y 2 1 %	G h i t r a p e i l i t p e c a e s 6 8 %	R d l d R O S d h i h d d f t e c o r s a e s a n u e o g e m a n r o m • l l i d i t t a c s o m e r n s r e s u u C i i t t t a p a c y e x p a n s o n o n s r e a m o a c c o m p a n y • i i d d f i d i h t n c r e a s n g e m a n o n s r e s s c a s u u h l i L E D ( i i h i ) t t t t t t p o o v o a c, e c. s o s a c g r a p e , P T h l d d 2 0 1 1 i h d t r o c e s s e c n o o g e n e r e c o r y w • f b d n m e r o n e o r e r s u w
M d i t t t e u m e r m a r g e s -		S i i i i t t t r a e g c p r o r e s
S l h 1 t a e s g r o w : • >	0 % p. a.	C k i i i f i t t t t t a p u r e m a r e o p p o r u n e s n a s g r o w n g • k i h i l i t t t t t m a r e s m e n e s m e n s w y v
R O S : •	1 0 % >	M i i l d i i i i l l d t t t a n a n e a n g p o s o n n a c o r e p r o u c • h l i t e c n o o g e s
		F h i b i i i i A i b t t u r e r m p r o v e u s n e s s p o s o n n s a y • h i l l i d k i l l t t t t s r e n g e n n g o c a n e s m e n s a n s s v

Graphite manufacturing passes multiple process steps and requires 4 to 6 months of production time (net)

Page 15

Graphite Materials & SystemsFeedstock production: Isostatic graphite

Graphite Materials & SystemsFeedstock production: Extruded graphite

Graphite Materials & SystemsProduction sites

Investor Relations PresentationPage 18

Advanced Materials

Graphite Materials & Systems (GMS)

Carbon Fibers &

Performance Products

Graphite Materials & Systems

Graphite Specialties can have different properties

Graphite Specialties have unique properties:

• • Self-lubricating
• Necessary where oil and grease would be detrimental
• Suitable above permissible temperatures for oils and fats
• • Mechanically stable up to very high temperatures
• Allow faster operating rates than with metals
• Some applications, e.g., semiconductors could not be produced without graphite equipment
• • Electrical and thermal conductivity
• Graphite powder is a powerful and effective anode material in lithium-ion batteries
• Metallurgical applications
• • Highest thermal shock stability of all well-known materials
• Graphite is both an effective lining and moderation material in nuclear power plants

The properties are modifiable to suit the required application!

Graphite Materials & SystemsBest solutions for our customers …

BU Process Technology

Process solution provider for chemical and related industries

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Systems

• Syntheses
• Distillation, purification, concentration, dilution
• Absorption, desorption
• Reactors & converters
• Steel pickling

Equipment

• Heat exchangers
• •Reactors and internals
• •Quenchers and vessels
• •Pumps
• Piping
• Accessories

After sales services

• Spare parts
• •Maintenance / Repairs
• Training

Core industries served

• •Chemicals
• •Pharma
• •Metals & Mining
• •Energy
• •Solar
• •Environmental

Core applications

• •Hydrochloric acid (HCl)
• •Phosphoric acid (H3PO4)
• •Sulfuric acid (H2SO4)
• •Hydrofluoric acid (HF)
• •Oxidizing acids
• •Isocyanates
• •Epichlorohydrine (EPC)
• •Vinyl chloride (VCM)
• •Polysilicon

BU Process TechnologyBusiness model and 3D growth strategy

Engineered process solutions lead to high value leverageon graphite

Graphite Materials & SystemsInnovation driving new product portfolio

• • Heaters, molds and insulation for photovoltaic applications
• • Silicon Carbide coated platters for LED
• • Carbon for anode material for lithium-ion batteries
• • High purity expanded graphite for environmental needs and thermal management(electronics, climate), e.g. cooling ceilings (Deutsche Bank Green Towers)
• • Process solutions for destruction of HCFCs(Hydrochlorofluorocarbons)

1/3 of sales based on new products introduced over the last 4 years

Graphite Materials & Systems

Major customer industries and market shares 2011

Base M aterial s	Advan ced M	aterial s
Perfor Produ cts mance (PP)	Graph ite Ma terials & System s (GMS )	Carbo n Fibe rs & Compo sites ( CFC)

	% f l t t o o a G S M l 2 0 1 1 s a e s	G l b l k t o a m a r e h 2 0 1 1 s a r e
C h i l e m c a s	2 4 %	3 0 %
E S l n e r g o a r y :	2 1 %	2 5 %
E B i & N l t t n e r g a e r e s c e a r y : u	1 3 %	2 5 %
S i d ( i l. L E D ) t e m c o n u c o r n c	8 %	2 0 %
M l l t e a u r g y	7 %	2 0 %
T l f i t o o m a n u a c u r n g	6 %	1 5 %
A i t t o m o e u v	4 %	1 5 %
H i h t t g e m p e r a r e p r o c e s s e s u -	3 %	1 5 %

Source: SGL Group's own estimates

Advanced MaterialsCarbon Fibers and Composites (CFC)

Advanced MaterialsCarbon Fibers and Composites (CFC)

S l 2 0 1 1 a e s –	H i h l i h 2 0 1 1 t g g s
C b F i b & a r o n e r s R B l d t o o r a e s C i t o m p o s e 1 3 % M i l t a e r a s 5 0 % A t t e r o s r u c u r e s 3 7 %	C C C C b F i b & i M i l ( F / M ) t t a r o n e r s o m p o s e a e r a s : • I d l d i i l i i t t t m p r o e o m e s a n c a p a c a o n v v u y u z – J V i h B M W G f i i l i t t t t s w r o u p o r a u o m o v e m a e r a s p r o g r e s s n g – h d l o n s c e u e A ( A S ) t t e r o s r u c u r e s • I d f i b i l i d f h f t t t t t m p r o v e p r o a y u e o u r e r r a m p u p o c u s o m e r – f j i i i h t t t t t t t t p r o e c s n e n e s m e n s n a o m a o n o s p p o r r e r ; w v u u u h i & d f b i t g r o w n a e r o s p a c e e e n s e u s n e s s R B l d ( R B ) t o o r a e s : • W i d i d j d l d l l i f j t t t n n u s r y p r o e c e a y s a n c a n c e a o n o a m a o r – f d d l k l d l i l i i t t o r e r c a s e a c o s a e s a n o a o n u w u z
M d i t t t e m e r m a r g e s u -	S i i i i t t t r a e g c p r o r e s
S l h 2 0 % t a e s g r o w : p. a. • > O S R 1 0 % : • > ( b d f b j i d 2 0 1 3, t t e n o s e c o n y u w k d l ) t t e n e r g y m a r e e v e o p m e n s	B l i f h i f f k t e c o m e s u p p e r o c o c e o r o u r o c u s m a r e s • A i t t u o m o v e – A l i i t t e r n a e e n e r g e s v – A i i / d f h l t t v a o n e e n s e e c n o o g y – C I d i l, i t t t n s r a o n s r c o n u u – E d C b F i b d C i i i t t x p a n a r o n e r a n o m p o s e c a p a c e s • S i h i h d h i d t t t t t t u p p o r o r g a n c g r o w w a r g e e p a r n e r s p s a n • i i i t a c q u s o n s S f d i l l t a e g a r o n r a m a e r a s p p u w w u y •

Carbon Fibers & CompositesBest solutions for our customers

SGL GroupThe only integrated European carbon fiber producer

Carbon Fibers & CompositesPAN precursor and carbon fiber

Investor Relations PresentationPage 29

Advanced Materials

Graphite Materials &

Carbon Fibers & Composites (CFC)

Performance Products

Carbon Fibers & CompositesCarbon fiber characteristics

C h i i t t a r a c e r s c s	A l i i t p p c a o n s
P h i l h, t t s c a s r e n g y h l i h i h t t t o u g n e s s, g w e g	A i d l i d b i t t, t t e r o s p a c e r a n s p o r s p o r n g g o o s, p r e s s r e e s s e s, n r n e u v w u , b l d i f f- h l i i & t a e s, m a r n e o s o r e a p p c a o n s
H i h d i i l b i l i t t g m e n s o n a s a y, l f f i i f h l t t o w c o e c e n o e r m a i l b i e p a n s o n, o a r a s o n x w	M i i l i f b k d l t t t t t s s e s, a r c r a r a e s, a e r o s p a c e a n e n n a a n s u p p o r s r u c u r e s, a r g e l i l b h i d f b l h i h- f ( G H ) t t t e e s c o p e s, o p c a e n c e s, w a v e g u e s o r s a e g r e q u e n c y z f i i t p r e c s o n m e a s r e m e n r a m e s u
G d i b i d i t o o r a o n a m p n g v , h, d h t t t s r e n g a n o u g n e s s	A d i i l d k f H i- f i i i k b t, t, t o e q p m e n o s p e a e r s o r e q p m e n p c p a r m s, r o o u u u u u l l a r m s, r o e r s
E l i l d i i t t t e c r c a c o n u c v y	A b i l h d l i i d b f l i i t t t t, u o m o e o o s, o o n g c a s n g s a n a s e s o r e e c r o n c e q u p m e n , l i i f ( E M I ) d d i f ( R F ) h i l d i t t t e e c r o m a g n e c n e r e r e n c e a n r a o r e q u e n c y s e n g , b h r s e s u
B i l i l l i t, o o g c a y n e r x- r a y b i l i t p e r m e a y	M d i l l i i i h d i i l t t t, t e c a a p p c a o n s n p r o s e s e s, s u r g e r y a n x- r a y e q u p m e n m p a n s, d / l i i t t e n o n g a m e n r e p a r
F i i l f- t t a g e r e s s a n c e, s e u l b i i h i h d i t u r c a o n, g a m p n g	T i l h i l i i t e x e m a c n e r y, g e n e r a e n g n e e r n g
C h i l l i h i h t, e m c a n e r g y i i t c o r r o s o n r e s s a n c e	C h i l i d l f i l d l l d i t t e m c a n s r n c e a r e a e s, s e a s, a n p m p c o m p o n e n s n u y ; u ; v v u l i i l i i t p r o c e s s p a n s c e n g n e e r n g ; v
E l i t t e c r o m a g n e c i t p r o p e r e s	L i i i d i l i l i t t t a r g e g e n e r a o r r e a n n g r n g s, r a o o g c a e q u p m e n

Source: CARBON FIBERS Updated: April, 2004 – Raghavendra R. Hegde, Atul Dahiya, M. G. Kamath (Monika Kannadaguli & Haoming Rong); SGL Group

Carbon Fibers & Composites: Carbon fiber demandgrowth delayed by 2-3 years but all growth drivers intact

Carbon Fibers & Composites Carbon fiber capacity

Capacity in mt

P r e c r s o r u	O w n	O w n	O w n	O w n	O w n	P i l l t a r a y o w n	O w n	O w n
P d t r o u c	L T	L T	H T	L T / H T	L T	H T	L T	L T
M k t a r e s	A / I d. e r o n	A / I d. e r o n	I d. n	I d. n	I d. n	I d. n	A / I d. e r o n	A / I d. e r o n

Source: SGL Group's own estimates, company websites (as of January 2012)

Carbon Fibers & CompositesComposite Materials

• • Carbon fibers can be woven or braided and are often impregnated with resin before component production
• • We aim to have a broad range of technologies for prepreging / preforming
• Impregnation (e.g., prepregs for wind turbine blades or aircraft parts)
  • –SGL epo
• Weaving (e.g., sporting goods, automotive, medical industry)
• Preforms (e.g., automotive industry)
• Braiding (e.g., automotive industry)
  • –SGL Kümpers

SGL Kümpers

Advanced Materials

Graphite Materials &

Carbon Fibers & Composites (CFC)

Performance Products

Carbon Fibers & CompositesAerostructures – HITCO

•

• HITCO: California-based composite component manufacturer for
• aerospace & defense industries
• • Complex multi-contoured hand lay-up expertise augmented by world class automation for carbon fiber reinforced aero structures
• • Investment into automation technologies AFP (Automated Fiber Placement machine), ATL (Automatic Tape Layer machine) and NDI (Non Destructive Testing Equipment) substantially improves competitiveness of HITCO
• • Received 2011 Defense Manufacturing Technology Achievement Award for superior accomplishments on the Joint Strike Fighter (JSF) Program and recognition for Out of Autoclave (OOA) processing ofcomposite structures
• • Successive Preferred Supplier Certifications from The Boeing Company for Quality & Delivery Performance
• • Recent contract wins / extensions:
• Composite Floor & Cargo Beams for Boeing 787 -8 & 9 Dreamliner
• Wing / Nacelle Skins and other complex components for JSF (F-35)
• Empennage Rib Chords for Boeing 777 Program
• Composite closures for Trident Missile submarines

Advanced Materials

Graphite Materials &

Carbon Fibers & Composites (CFC)

Performance Products

AFP

Carbon Fibers & CompositesRotor Blades – SGL Rotec

Advanced Materials Performance Products Graphite Materials & Carbon Fibers & Composites (CFC)

• • SGL Rotec: German based manufacturer of rotorblades for wind turbines of multi-MW classes
• • Built-to-print manufacturing based on fibercomposite technology since early 1990s
• • High reputation as
• manufacturer of high quality rotor blades
• specialist in manufacturing of large size rotor bladesfor onshore and offshore turbines
• innovator in process and technology development
• • Composite Technology:
• Process: Vacuum infusion
• Main materials: Epoxy, polyester and vinyl ester resin, glass fiber, carbon fiber
• • Development of a "Competence & Development Center" for next generation rotor blade manufacturing

•Brembo-SGL:

• 50/50 JV between SGL Group and Brembo SPA for carbon ceramic based automotive brakes
• Leading global position, supplying most of the highend car makers, with production sites in Germany and Italy
• • SGL Group's strategic objectives in automotive:
• Drive the metal substitution process in automotive to become a major automotive parts supplier by 2013
• Ensure that SGL Group's materials are at the forefront in the automotive industry

Carbon Fibers & CompositesJVs in Automotive

• • Benteler-SGL:
• 50/50 JV between SGL Group and Benteler AG to develop composite based automotive components
• February 2009: Acquisition of Fischer Composite Technologies GmbH in Austria
• Leading position in developing structural automotive parts and modern, automated production technologies
• Successful manufacturing of prototype parts for the BMW i3

Carbon Fibers & Composites

JVs with BMW, Mitsubishi exclusively for BMW's demand

• • Milestone in serial application of carbon fibers in automotive industry –market launch of first serially produced car (BMW i3) with a CFRPpassenger cell in 2013
• • €90 million total investment volume in initial phase, overall investment volume €230 million subject to BMW demand increase
• •JVs to be consolidated at equity by SGL and BMW during build-up phase
• • BMW guarantees certain minimum purchasing volumes at contractuallyagreed conditions in the context of safeguarding the overall project
• •BMW provides debt financing
• • SGL Automotive Carbon Fibers LLC, Moses Lake (USA): 51/49 JV betweenSGL Group and BMW Group to produce carbon fibers exclusively for BMW'sdemand (3kt carbon fiber capacity in 1st stage)
• • SGL Automotive Carbon Fibers, Wackersdorf (Germany): 51/49 JV betweenSGL and BMW Group to produce composite materials (fabrics) in Wackersdorf(Germany) based on carbon fiber produced in Moses Lake (USA)
• • These fabrics to be sold to BMW who will produce automotive parts and then finally assemble the BMW i3 in Landshut and Leipzig (Germany)
• • Precursor supply safeguarded by MRC – SGL Precursor Co. Ltd., Otake (Japan): 33/67 JV between SGL Group and Mitsubishi Rayon

Performance Products

Advanced Materials

Graphite Materials & Systems (GMS)

Carbon Fibers & Composites (CFC)

Source: BMW Group

Ensuring the futureSGL Excellence – enables productivity and growth

Ensuring the futureSGL Excellence savings

Since 2002 continuous cost reduction of €257 million in total

Annual Net Savings (€m)

Ensuring the futureTechnology & Innovation – foundation for profitable growth

Technology & Innovation: SGL Group's centralized R&D organization

• •Market driven R&D ensures best-in-class support for current and future customers
• • Industry networks with suppliers and customers are an essential part of our development strategy thus ensuring close contacts to our markets
• •Global networks with leading universities cover the basic research.
• • Material, process and application know-how is the platform for our development clusters: synthetic graphite, carbon fibers and composites, energy systems, and ceramic fibers and composites.
• • Strategic IP management safeguards our products and processes and is a driver of our long term market success

Ensuring the future

Technology & Innovation – foundation for profitable growth

Activity areas of T&I 2012

Raw materials & synthetic graphite development for basic industries targeting

• • Reduction of graphite electrode consumption in EAF by optimization of raw materials, oxidation resistance and GE-joint
• • Increase energy efficiency of aluminum production process by improved cathode recipes and advantageous cathode designs
• • Elongate lifetime of furnace linings by improved microporous carbon-ceramic recipes and advanced lining bloc designs

Strengthen Carbon Fiber based value chain

• •Commissioning of carbon fiber Pilot Line and improvement of carbon fiber production processes
• •Development of special carbon fiber grades based on own precursor
• •Improvement of textile structures, prepregs and preforms

Energy systems

• • Improved low cost graphite based anode materials for Li-ion batteries and high performance carbon powder for Supercaps with enhanced energy density.
• • Development of carbon felt with enhanced surface characteristics and improved electrochemical behavior for stationary energy storage systems such as Redox flow batteries.

Improved Ceramic Materials

• • Development of new C/SiC materials and manufacturing methods for large complex shaped ceramic structures
• •Development of high-temperature stable SiC fiber

Latest Financials and 2012 Outlook

SGL Group2011 Results for the Group – Income Statement

i € i l l i n m o n	2 0 1 1	2 0 0 1
S l a e s r e e n e v u	1, 5 4 0. 2	1, 3 8 1. 8
E B I T D A *	2 3 1. 7	1 9 4 8
O i f i ( E B I T ) * t t p e r a n g p r o	1 6 0. 4	1 2 8 4
R l f A E i d i t t- t t t t e s r o m q a c c o n e n e s m e n s u u y u v	3 2 6 -	1 1. 9 -
N f i i l t t e n a n c n g r e s u	4 9. 2 -	4 3 3 -
P f i b f t t r o e o r e a x	8 3 7	7 3 2
N f i f l l i i t t t t t t e p r o a e r n o n- c o n r o n g n e r e s s	7 3 2	5 2 2
E P S b i ( i ) € a s c n ,	1. 0 9	0. 8 0
D i i d d h ( i ) € e n p e r s a r e n v	0. 2 0	-

i % n	2 0 1 1	2 0 0 1
R O S ( E B I T ) *	1 0. 4	9 3
R O C E ( E B I T ) *	1 0. 0	9 0

• •Sales revenue increase 12% - currency adjusted 13%
• •EBIT 2011 includes sustainable cost savings of €24 million from SGL Excellence Initiative (SGL X)
• * Before reversal of impairment losses and impairment losses

SGL Group2011 Results for the Group – Key Balance Sheet and Cash Flow Figures

	3 2 2 0 1 1 1 1	3 2 2 0 0 1 1 1
T l ( i i l l i ) € t t o a a s s e s n m o n	2 2 7 1. 3 ,	2 1 1 3 3 ,
E i i b b l h h h l d f h t t t t t t t t q u y a r u a e o e s a r e o e r s o e p a r e n c o m p a n y ( i i l l i ) € n m o n	1, 0 4 1. 1	8 6 4 4
E i i ( i % ) t t q r a o n u y	4 5. 8	4 0. 9
T l l i i d i ( i € i l l i ) t t o a q n m o n u y	2 4 1. 7	2 8 4 7
N d b ( i € i l l i ) t t e e n m o n	3 4 3 3	4 1 0. 5
G i ( d b / i ) t t t e a r n g n e e e q u y	0. 3 3	0. 4 7
i € i l l i n m o n	2 0 1 1	2 0 1 0
C h i d d b i i i i t t t a s p r o e o p e r a n g a c e s v y v	1 3 6. 2	1 1 5. 5
C i l d i i l d i d i i b l t t t t t t a p a e p e n r e s n p r o p e r p a n a n e q p m e n a n n a n g e x u y, u t a s s e s	1 3 8 8 -	1 2 9 5 * -
C h d i i i i i i t t t a s u s e n n v e s n g a c v e s	1 6 9 3 -	1 5 3 8 * -
F h f l r e e c a s o w	3 3 1 -	3 8. 3 -

* After deducting payments from BMW Group amounting to €7.4 million

SGL Group2011 Results for Performance Products (PP)

i € i l l i n m o n	2 0 1 1	2 0 0 1
S l a e s r e v e n u e	8 4 5. 7	7 6 2 6
E B I T D A	1 7 9. 9	1 7 7. 5
O f i i ( E B I T ) t t p e r a n g p r o	1 4 3 3	1 4 4 1
R l ( i % ) t e r n o n s a e s n u	1 6. 9	1 8. 9

• • Sales revenue increase: 11%, currency adjusted 13%
• driven by continued improvement in graphite electrode volumes resulting from the global growth in electric steel production
• partially offset by expected low cathodes sales level particularly in H1/2011 due to investment pauseand destocking in aluminum industry seen throughout 2010
• • EBIT remained at nearly the same level as in 2010 due to
• lower sales prices, particularly for cathodes
• continued start-up costs for commissioning our new Malaysian plant
• •€10 million savings from SGL X initiative

SGL Group2011 Results for Graphite Materials & Systems (GMS)

i € i l l i n m o n	2 0 1 1	2 0 1 0
S l a e s r e e n e v u	4 6 8. 7	3 9 5. 9
E B I T D A	1 0 1. 6	5 4 9
O i f i ( E B I T ) t t p e r a n g p r o	8 4 0	3 6. 9
R l ( i ) % t e r n o n s a e s n u	1 7. 9	9 3

• • Sales revenue increase: 18%, currency adjusted 17%
• very high demand from all customer industries, especially in the solar, semiconductor and LED sector
• sales revenue in Q1/2010 still at low level due to global financial crisis
• • EBIT more than doubled primarily due to
• high capacity utilization
• successful implementation of price increases
• •€8 million savings from SGL X initiative

SGL Group2011 Results for Carbon Fibers & Composites (CFC)

i i l l i € n m o n	2 0 1 1	2 0 1 0
S l a e s r e e n e v u	2 2 0. 2	2 1 8. 5
E B I T D A *	5. 3 -	4 8
O i f i ( E B I T ) * t t p e r a n g p r o	1 6. 9 -	6. 6 -
R l ( i ) % t e u r n o n s a e s n	7. 7 -	3 0 -

• • Sales revenue increase: 1%, currency adjusted 3%
• growth negatively impacted by developments in wind energy/SGL Rotec
• revenue sales of At-Equity accounted investments relate to CFC increased by 14 %
• • Strong decrease in EBIT
• entirely due to the disappointing development of wind industry (Rotorblades/SGL Rotec)
• excluding SGL Rotec, slightly positive EBIT
• in Q2/2011: net impact of reversal of impairment losses and impairment losses in operating income of €5.1 million
• •€5 million savings from SGL X initiative

* Before reversal of impairment losses and impairment losses

SGL Group 2011 Results for Central T&I and Corporate Costs

i i l l i € n m o n	2 0 1 1	2 0 1 0
S l / h t a e s r e e n e o e r r e e n e v u v u	5 6	4 8
C C l T & I t t e n r a o s s	1 2 9 -	1 2 6 -
C C t t o r p o r a e o s s	3 7. 1 -	3 3 4 -

• •Central T&I costs remained at nearly same level as in 2010
• •Corporate costs in 2010 included €4.8 million extraordinary gain from land sale
• •Adjusted for this factor, corporate costs decreased by 3%

Financing Structure, Balance Sheet Ratios and Cash on HandAllow Continuation of Growth Path

SGL Group established a solid long term financial structure in May 2007

• •€200 million Corporate Bond at EURIBOR plus 125 bps (maturity 2015)
• • €145.5 million* Convertible Bond at 0.75%, conversion price of €36.52 (maturity 2013) (originally €200 million prior to conversion)
• •€200 million credit facility, undrawn (original 2012 maturity extended to 2015)

Followed by a supplemental debt instrument in June 2009

• €134.7 million* Convertible Bond at 3.5%, conversion price of €29.39 (maturity 2016)(originally €190 million prior to conversion)

SGL Group has solid balance sheet ratios and liquidity at end of December 2011

• •Equity ratio: 46%
• •Gearing: 0.33
• •Total liquidity: €242 million

SGL Group has no refinancing requirements until 2013 at the earliest

^* As at February 29, 2012

Ensuring the Future Capital Expenditure by Business Area

Major investment focus in 2011:

• • PP:
• Continued build up of new GE + CA production facility in Malaysia
• • GMS:
• Isostatic graphite capacity expansion in Germany
• Capacity expansion in USA, China and India
• Reconstruction and expansion of graphite foil production in Meitingen(Germany)
• Replacement and ESHA investments in France, USA and Germany
• • CFC:
• Further investments in automation technologies at HITCO (USA) and SGL Kümpers (Germany)
• ESHA investment in Scotland

* Reported capex of €129.5 million for 2010 includes €7.4 million cash inflow for services rendered by SGL Group. Therefore cash outflow for capex was €136.9 million

SGL GroupOutlook 2012 strongly dependent on macroeconomic development in H2

Group

• •Assuming economic recovery and stabilization in H2, sales and EBIT to grow further
• •Achievement of targeted minimum Group ROS of 12% difficult due to weaker H1
• •Relief from lower net financial costs and loss from investments accounted for At-Equity

Capex, Balance Sheet, Cash Flow

• •Key KPI: target gearing level to remain at approx. 0.5 based on today's portfolio
• •Gearing ~0.5 defines capex level
• •Capex up to €150 million to be largely funded from operational cash flow
• • Free cash flow of up to minus €60 million mainly due to capex and required working capital buildup (excluding payments for acquisitions)

Key risks to forecasts

•Political, economic, financial market related uncertainties

SGL GroupBusiness Area Outlook and Key Assumptions 2012

P P	G S M	C C F
S l h d i i l b t a e s g r o w r v e n m a n y y • G E i i R O S b l t p r c n g, c o m p a r a e o 2 0 1 1	S b l l d d t t a e s a e s c o m p a r e o r e c o r • R O S f b l 2 0 1 1, 1 0 % t ≥ c o m o r a y	M h 2 0 % l h, t t o r e a n s a e s g r o w • i b k b t t t a r g e n g r e a e e n v u d d i d t e p e n e n o n w n e n e r g y k t m a r e
G h i E l d t t r a p e e c r o e s C G b l E l i f o m p a r a e v o u m e s • l b l d l i t g o a e c o n o m a n e e c r c y l d i i H 2 t t s e e p r o u c o n r e c o v e r n W k l i H 1 e a e r o m e s n v u • d t e x p e c e F i b t t t a c o r c o s n c r e a s e s o e • d i h h i h l l i t t c o m p e n s a e g e r s e n g w i p r c e s C h d t a o e s V l o u m e r e c o v e r y • F i t t t t a c o r c o s n c r e a s e s n o y e • d b l l i i t c o m p e n s a e y s e n g p r c e s N l i t t t e w s m e e r c o n s r u c o n • i d i f h t t t a n n o n c e m e n s n c a e r e r u u C A h d b d 2 0 1 3 t g r o w a n e y o n	G h i S i l i t t r a p e p e c a e s S l i h l l l d h t t g y o w e r v o u m e s a n u s • i l i i d t t t t u z a o n u e o e m p o r a r y i i h l i t t t t n e s m e n p a s e n p o o o a c v u v d L E D i d i t a n n s r e s u N M k t e w a r e s C i d d d d f L i t o n n e g o o e m a n r o m u • i b i f t t o n a e r e s o r c o n s m e r u t s e g m e n P T h l r o c e s s e c n o o g y R d d i k i 2 0 1 1 t e c o r o r e r n a e n • i l h d t p r o m s e s s a e s g r o w a n f i b i l i t t p r o a y	C b F i b / a r o n e r s C i M i l t t o m p o s e a e r a s S l h d t t t t t o s a r o e e a r e p e c e w y x • l t t o a c c e e r a e A t t e r o s r c r e s u u H I T C O i h h i h l d t g e r s a e s a n w • i d i l i t t e a r n n g s u e o n e w m a r y d f h t t t c o n r a c s a n u r e r d i f B i t p r o u c o n r a m p u p o o e n g 7 8 7 R B l d t o o r a e s S G L R d t t t o e c e p e c e o r a m p x • d i d d t u p p r o u c o n a n r e u c e l o s s e s

Fundamental long-term growth drivers and mid term horizon

Fundamental long-term growth drivers for our businesses

Strong growth in emerging countries(BRIC etc.)

•Industrialization

•Infrastructure build up

Increasing demand forgraphite electrodes and cathodes

Fundamental long-term growth drivers for our businesses

Our carbon based products offer sustainable solutionstowards less CO2

Mid Term HorizonGroup Sales to increase by more than 10% p.a.*

Mid Term Horizon Return on Sales (ROS) target remains at minimum 12%

• •Outlook for 2012, especially for H2, uncertain due to unclear macroeconomic environment
• •New assets coming on stream contribute to sales and cash flow growth
• • Higher capacity utilization expected to lead to ROS ^≥12% in course of 2013

Mid Term Horizon Return on Capital Employed (ROCE) target remains at minimum 17%

• •Anticyclical investments provide basis for long term growth
• • The resulting sales growth will lead to normalized capital intensity* improving from 109% in 2011 to ~80% as investment pace slows and sales growth accelerates
• • As a consequence we expect to reach our Group ROCE target ^≥ 17% again towards the end of the planning period

*capital employed/sales, measure of capital invested per € of sales

Mid Term Horizon Capex remains high until 2012 – Free Cash Flow positive expected from 2013

• •Major investments on schedule
• •Capex requirements up to €150 million in 2012, declining thereafter
• •Capex continues to be funded almost entirely from operating cash flow
• •Positive free cash flow starting 2013
• •Gearing target remains at approx. 0.5 and is indicative for capex levels

Mid Term Horizon Performance Products

• •Investment in low cost carbon & graphite hub in Malaysia will enhance competitiveness
• • ROS estimated at upper end of long term average bracket 15 - 20% for a transitory period due to slowed global growth and delayed recovery of investment spending in aluminum industry
• •Longer term target ≥20% still achievable
• •Plans to increase our investment in Chinese electrode production
• •PP remains high performing business in terms of profitability, sales growth, and cash flow

Mid Term Horizon Graphite Materials & Systems

• • Accelerated sales growth of ^≥ 10% p.a. (previously 6-8% p.a.) due to rising demand from high growth end markets (semiconductor, photovoltaic, LED, lithium-ion batteries)
• • ROS to achieve ^≥10% target throughout planning period
• • 2012 EBIT ROS expected to be affected by investment pause in solar and LED industry following record performance in 2011

Mid Term Horizon Carbon Fibers & Composites

*calculated on 100% ownership

• • Sales growth target remains ^≥20% p.a. despite wind energy market related setbacks in recent years
• •Sales growth driven by continued material substitution in aircraft, wind, industrial and automotive applications
• • Total CFC sales of more than €1bn targeted for end of planning period including approximately €500 million sales of At-Equity accounted JVs (calculated on 100% ownership)
• •Targeting break even for 2012 dependent on uncertainties of wind energy market
• • Target ROS ^≥10% by end 2013 potentially at risk due to wind/rotor blade business

Appendix

SGL GroupGlobal presence

Shares in issue and shareholder structure

B i h a s c s a r e s
S i I d i f i i N b t t t e c r e n c a o n m e r u y u		7 2 3 5 3 0
S I I N N b u m e r		D E 0 0 0 7 2 3 5 3 0 1
C i N b u s p u m e r		7 8 4 1 8 8 2 0 3
N b f S h u m e r o a r e s ( F b 2 9, 2 0 1 2 ) t a s a e r u a r y		7 0, 4 0 3, 6 1 2
F f l t r e e o a		4 0 % ~
G R d h h l d i d i § 2 1 f. W H t t e o r e s a r e o n s a c c o r n o
p	g g	§ p
S G K i b H o n m	( 1 7 M 2 0 1 1 ) a y	2 6. 8 7 %
B M W A G	( D ) 2 1 2 0 1 1 e c	1 5. 7 2 %
V i h G b H t o m	( S ) 0 1 2 0 1 1 e p	9. 1 4 %
G V l k A o s w a g e n	( 2 5 F b 2 0 1 1 ) e	8. 1 8 %
C b d t o r p o r a e o n
C o u p o n		E U R I B O R 1. 2 5 % +
P i i l A t r n c p a m o n u		€ 2 0 0 i l l i m o n
I D t s s u e a e		M 1 6 2 0 0 7 a y
D f i t t t a e o m a u r y		M 1 6 2 0 1 5 a y

C i b l ( i ) 2 0 1 3 t t t t o n v e r e n o e s m a u r y
C o p o n u	0. 7 5 %
P i i l A t r n c p a m o n u	i l l i € 2 0 0 m o n
O d i A t t t u s a n n g m o u n ( Fe br ) 2 9, 2 0 1 1 t as a ua ry	i l l i € 1 4 5. 5 0 m o n
C i P i o n e r s o n r c e v	€ 3 6. 5 2
C i R i h t o n e r s o n g v ( Fe br ) t 2 9, 2 0 1 1 as a ua ry	i l l i h 3. 9 8 m o n s a r e s
I D / t s s u e a e D f i t t t a e o m a r u y	1 6 M 2 0 0 7 / a y 1 6 M 2 0 1 3 a y
C i b l ( i 2 0 1 6 ) t t t t o n e r e n o e s m a r v u y
C o p o n u	3. 5 %
P i i l A t r n c p a m o n u	i l l i € 1 9 0 m o n
O d i A t t t u s a n n g m o u n ( Fe br 2 9, 2 0 1 1 ) t as a ua ry	€ 1 3 4. 7 0 i l l i m o n
C i P i o n e r s o n r c e v	€ 2 9. 3 9
C i R i h t o n v e r s o n g ( Fe br 2 9, 2 0 1 1 ) t as a ua ry	4. 5 8 i l l i h m o n s a r e s

Financial calendar / contact details

F i i l l d n a n c a c a e n a r
0 3- 2 2- 2 0	A 1 2	l R t n n a e p o r u
0 5- 0 3- 2 0	1 2 R	h F i Q t t t t e p o r o n e r s u a r e r
0 5- 1 0- 2 0	A 1 2	l G l M i t n n a e n e r a e e n g u
0 8- 0 9- 2 0	I 1 2	i F i i l R F i H l f t t t n e r m n a n c a e p o r r s a
1 1- 0 8- 2 0	1 2 R	N i M h t t e p o r o n n e o n s

Contact

SGL CARBON SE

www.sglgroup.com

Rheingaustraße 18265203 WiesbadenGermanyPhone +49 (0) 611 - 6029 - 103Fax +49 (0) 611 - 6029 - 101investor-relations@sglcarbon.de

Important note:

This presentation contains forward looking statements based on the information currently available to us and on our current projections and assumptions. By nature, forward looking statements are associated with known and unknown risks and uncertainties, as a consequence of which actual developments and results can deviate significantly from the assessment published in this presentation. Forward looking statements are not to be understood as guarantees. Rather, future developments and results depend on a number of factors; they entail various risks and unanticipated circumstances and are based on assumptions which may prove to be inaccurate. These risks and uncertainties include, for example, unforeseeable changes in political, economic, legal and business conditions, particularly relating to our main customer industries, such as electric steel production, to the competitive environment, to interest rate and exchange rate fluctuations, to technological developments, and to other risks and unanticipated circumstances. Other risks that may arise in our opinion include price developments, unexpected developments associated with acquisitions and subsidiaries, and unforeseen risks associated with ongoing cost savings programs. SGL Group assumes no responsibility in this regard and does not intend to adjust or otherwise update these forward looking statements.