thyssenkrupp

Interim report

1st half 2025/2026

October 1, 2025 – March 31, 2026

engineering.tomorrow.together.

THYSSENKRUPP INTERIM REPORT 1ST HALF 2025 / 2026

thyssenkrupp in figures

THYSSENKRUPP IN FIGURES

	Group
		1st half ended March 31, 2025	1st half ended March 31, 2026	Change	in %
Order intake	million €	20,560	18,323	(2,237)	(11)
Sales	million €	16,410	15,566	(844)	(5)
EBITDA	million €	861	193	(668)	(78)
EBIT1)	million €	291	(174)	(465)	--
EBIT margin	%	1.8	(1.1)	(2.9)	--
Adjusted EBIT1)	million €	210	409	199	95
Adjusted EBIT margin	%	1.3	2.6	1.3	++
Income/(loss) before tax	million €	288	(199)	(487)	--
Net income/(loss) or earnings after tax	million €	134	(345)	(479)	--
attributable to thyssenkrupp AG's shareholders	million €	104	(352)	(457)	--
Earnings per share (EPS)	€	0.17	(0.57)	(0.73)	--
Operating cash flows	million €	(7)	(1,205)	(1,199)	--
Cash flow for investments	million €	(569)	(594)	(25)	(4)
Cash flow from divestments	million €	423	(9)	(433)	--
Free cash flow2)	million €	(153)	(1,809)	(1,656)	--
Free cash flow before M&A2)	million €	(589)	(1,827)	(1,238)	--
Net financial assets (March 31)	million €	3,979	2,758	(1,220)	(31)
Total equity (March 31)	million €	10,590	10,284	(306)	(3)
Gearing (March 31)	%	-3)	-3)	--	--
Employees (March 31)		95,560	90,916	(4,644)	(5)

1) See reconciliation in segment reporting (Note 10).
2) See preliminary remarks and reconciliation in the analysis of the cash flows of the group.
3) Due to the strongly positive total equity and the reported net financial assets, the gearing key ratio is negative and the significance of the gearing key ratio is therefore limited.

THYSSENKRUPP INTERIM REPORT 1ST HALF 2025 / 2026

thyssenkrupp in figures

THYSSENKRUPP IN FIGURES

	Group
	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026	Change	in %
Order intake	million €	8,079	10,644	2,565
Sales	million €	8,579	8,380	(198)
EBITDA	million €	468	245	(222)
EBIT^{1)}	million €	188	65	(123)
EBIT margin	%	2.2	0.8	(1.4)
Adjusted EBIT^{1)}	million €	19	198	179
Adjusted EBIT margin	%	0.2	2.4	2.1
Income/(loss) before tax	million €	267	55	(213)
Net income/(loss) or earnings after tax	million €	167	(11)	(178)
attributable to thyssenkrupp AG's shareholders	million €	155	1	(155)
Earnings per share (EPS)	€	0.25	0.00	(0.25)
Operating cash flows	million €	(312)	26	339
Cash flow for investments	million €	(292)	(336)	(44)
Cash flow from divestments	million €	433	(8)	(441)
Free cash flow^{2)}	million €	(172)	(318)	(146)
Free cash flow before M&A^{2)}	million €	(569)	(327)	242
Net financial assets (March 31)	million €	3,979	2,758	(1,220)
Total equity (March 31)	million €	10,590	10,284	(306)
Gearing (March 31)	%	–^{3)}	–^{3)}	—
Employees (March 31)		95,560	90,916	(4,644)

THYSSENKRUPP STOCK / ADR MASTER DATA AND KEY FIGURES

ISIN		Key figures
Shares (Frankfurt, Düsseldorf stock exchanges)	DE 000 750 0001	Number of shares (total)	shares	622,531,741
ADR (over-the-counter-trading)	US88629Q2075	Closing price end March 2026	€	7.41
Code		Stock exchange value end March 2026	million €	4,613
Shares	TKA
ADR	TKAMY

Contents

02 thyssenkrupp in figures
05 thyssenkrupp stock

07 Interim management report
07 Preliminary remarks
07 Strategy
08 Report on the economic position
08 Summary
10 Macro and sector environment
12 Results of operations and financial position of the group
16 Segment review
21 Compliance
21 Employees
22 Changes on the Supervisory Board and Executive Board
22 Technology and innovations
23 Events after the reporting date
24 Forecast, opportunity and risk report
24 2025/2026 forecast
26 Opportunities and risks

27 Condensed interim financial statements
28 thyssenkrupp group – statement of financial position
30 thyssenkrupp group – statement of income
31 thyssenkrupp group – statement of comprehensive income
32 thyssenkrupp group – statement of changes in equity
34 thyssenkrupp group – statement of cash flows
36 thyssenkrupp group – selected notes to the financial statements
54 Review report
55 Responsibility statement
56 Additional information
56 Contact and 2026/2027 financial calendar

Our fiscal year begins on October 1 and

ends on September 30 of the following year.

THYSSENKRUPP INTERIM REPORT 1ST HALF 2025/2026

thyssenkrupp stock

PERFORMANCE OF THYSSENKRUPP STOCK RELATIVE TO DAX AND MDAX
indexed, 1st half ended March 31, 2026

The stock's performance in the 1st half 2025/2026

The share price at the end of the 1st half was €7.41, which was around 20% lower than at the start of the fiscal year, thus slightly underperforming the benchmark indices. The stock posted its highest value of €12.28 on February 11, 2026, and its lowest value of €7.19 on March 30, 2026. At the start of the fiscal year, the share price initially trended positively following the spin-off of TKMS. This upward trend held until mid-February. From early March, stock markets worldwide – and thus also thyssenkrupp stock – were negatively impacted, mainly by developments resulting from the escalation of the Iran conflict.

Capital market

Twelve financial analysts regularly publish updated investment recommendations and target prices. On the reporting date at the end of March 2026, 42% of these analysts had issued a positive investment recommendation (e.g., buy), 50% a neutral recommendation (e.g., hold) and only 8% a negative recommendation (e.g., sell).

Shareholders

With around 21% of voting rights, the Alfried Krupp von Bohlen und Halbach Foundation, Essen, is the biggest shareholder in thyssenkrupp AG. The remaining shares continue to be widely held worldwide. thyssenkrupp AG held no treasury shares as of the reporting date.

Annual General Meeting

The 27th Annual General Meeting of thyssenkrupp AG was held again with physical presence in Bochum on January 30, 2026. With the attendance of 56.68% of the capital stock, the Annual General Meeting voted with the necessary majority on all the agenda items submitted for resolution. The dividend approved (€0.15) for fiscal year 2024/2025 was paid out on February 4, 2026.

THYSSENKRUPP INTERIM REPORT 1ST HALF 2025/2026

thyssenkrupp stock

Investor Relations

The equity story continues to be marketed actively to investors and financial analysts and is attracting growing interest. The focus of activities during the reporting period was on large investor conferences in Lyon, New York, Toronto, London and Frankfurt.

Stock market listing of Marine Systems (TKMS)

Following its registration in the commercial register on October 17, 2025, and the resulting legal effectiveness of the spin-off of the Marine Systems segment, the Marine division TKMS AG & Co. KGaA was listed for the first time on the Prime Standard of the Frankfurt Stock Exchange on October 20, 2025; the share has also been listed in the MDAX since December 22, 2025. The shareholders of thyssenkrupp AG had approved the spin-off at the extraordinary general meeting of thyssenkrupp AG on August 8, 2025; they received one share of TKMS AG & Co. KGaA for every 20 shares of thyssenkrupp AG. thyssenkrupp AG is the majority shareholder with 51% and continues to fully consolidate the Marine division in the consolidated financial statements, with 49% reported as non-controlling interests in equity from the 1st quarter of 2025/2026.

Interim management report | Preliminary remarks, Strategy

Interim management report

Preliminary remarks

This report follows the internal management model applied by thyssenkrupp in fiscal year 2025/2026. The business performance is presented by segment.

As of the start of fiscal year 2025/2026, the additions to right-of-use assets under leases (in accordance with IFRS 16) are no longer recognized as an investment in the FCF before M&A performance indicator. In the future, the actual lease payments – comprising the repayment and interest components – will be included in the calculation. Due to the lack of material impact, the corresponding prior-year figures were not adjusted.

As of the start of fiscal year 2025/2026, functions and expenses for the regional platforms in China, North America and South America are allocated to the Automotive Technology Segment; in the previous year, these were allocated to Corporate Headquarters in the context of segment reporting. Due to the lack of material impact, the corresponding prior-year figures were also not restated.

Strategy

thyssenkrupp is consistently driving forward with its strategic realignment. At the heart of the transformation of thyssenkrupp AG is the ACES 2030 future model, coupled with the transition of thyssenkrupp AG to a financial holding company that serves as the umbrella for strong and independent companies. Three main areas of action – portfolio, performance and green transformation – continue to serve as the strategic framework. During the reporting period, key progress was achieved in implementing ACES 2030.

On October 20, 2025, the marine business TKMS AG & Co. KGaA (Marine Systems segment) successfully became an independent, publicly listed company; thyssenkrupp AG remains the majority shareholder. On May 2, 2026, thyssenkrupp AG and Jindal Steel International agreed to pause their discussions concerning the Indian company's acquisition of a stake in thyssenkrupp Steel Europe. thyssenkrupp will continue to drive the restructuring of the segment independently, in order to prepare the steel business for success and profitability. The conclusion of the collective restructuring agreement in December 2025 laid a solid foundation for implementing the industrial future concept. Moreover, on the basis of the key issues paper on the future of HKM agreed in February 2026, negotiations are currently ongoing concerning the sale of the shares in HKM to Salzgitter AG. Meanwhile, policymakers are increasingly addressing the challenges facing the steel industry, particularly with regard to trade protection measures against unfair competition and global overcapacity. Against this backdrop, the stated medium-term goal remains to establish the independence of thyssenkrupp Steel Europe while thyssenkrupp AG may retain a minority stake. On March 31, 2026, Automotive Technology successfully completed the sale to Agile Robots SE, Munich, of the core business of Automation Engineering that was initiated in November 2025, thus making a further adjustment to the portfolio.

Detailed information on the strategy can be found in thyssenkrupp's Annual Report 2024/2025. Further details can be found in the sections headed "thyssenkrupp stock," "Segment review" and "Technology and innovations" and in Note 16 in the interim financial statements (Events after the reporting date).

Interim management report | Report on the economic position

Report on the economic position

	Order intake million €		Sales million €		EBIT1) million €		Adjusted EBIT1) million €		Employees
	1st half ended March 31, 2025	1st half ended March 31, 2026	1st half ended March 31, 2025	1st half ended March 31, 2026	1st half ended March 31, 2025	1st half ended March 31, 2026	1st half ended March 31, 2025	1st half ended March 31, 2026	March 31, 2025	March 31, 2026
Automotive Technology	3,374	3,275	3,471	3,327	7	(12)	36	60	30,595	27,642
Decarbon Technologies	1,213	1,301	1,791	1,423	25	(76)	34	(17)	12,581	11,977
Materials Services	5,903	6,038	5,779	5,753	28	83	37	96	15,670	15,314
Steel Europe	5,084	4,959	4,817	4,453	315	(104)	146	300	26,286	25,415
Marine Systems	5,591	3,409	1,101	1,167	63	52	62	60	8,197	8,994
Corporate Headquarters	4	0	3	0	(107)	(99)	(99)	(79)	665	468
Reconciliation	(608)	(660)	(553)	(557)	(40)	(18)	(5)	(13)	1,566	1,106
Group	20,560	18,323	16,410	15,566	291	(174)	210	409	95,560	90,916

1) See reconciliation in segment reporting (Note 10).

	Order intake million €		Sales million €		EBIT1) million €		Adjusted EBIT1) million €
	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026
Automotive Technology	1,744	1,709	1,802	1,702	28	1	24	41
Decarbon Technologies	645	818	884	685	12	(60)	16	(1)
Materials Services	3,019	3,236	3,043	3,192	20	67	29	81
Steel Europe	2,777	2,728	2,639	2,489	169	83	(23)	84
Marine Systems	155	2,505	533	622	31	25	31	34
Corporate Headquarters	3	0	1	0	(55)	(43)	(57)	(35)
Reconciliation	(263)	(351)	(324)	(310)	(18)	(8)	(2)	(6)
Group	8,079	10,644	8,579	8,380	188	65	19	198

1) See reconciliation in segment reporting (Note 10).

Summary

In the 1st half, the group's business performance developed as follows compared with the prior-year period:

Order intake was significantly below the prior year (decrease of €2.2 billion or 11%), mainly due to two major orders received by Marine Systems in the prior-year period. Sales were also down year-on-year (decrease of €844 million or 5%) due to factors such as further price- and demand-induced declines; Marine Systems posted an increase and Materials Services matched the prior-year level.
At €409 million, adjusted EBIT was above the prior year (increase of €199 million or 95%). All segments except Decarbon Technologies and Marine Systems grew their contributions compared with a year earlier.
At €(345) million, net income was below the prior year, mainly due to the year-on-year increase in restructuring expenses – especially at Steel Europe.
FCF before M&A of €(1.8) billion was below the prior year, primarily because of the advance payments of €1 billion received in the prior-year period in connection with the addition of four submarines in a substantial extension of an order for Marine Systems.

Interim management report | Report on the economic position

In the 2nd quarter, the group's business performance developed as follows compared with the prior-year quarter:

Order intake was significantly above the prior year (increase of €2.6 billion or 32%), mainly due to two major orders received by the marine electronics business and the extension of an order for submarines at Marine Systems. Sales were down year-on-year (decrease of €198 million or 2%) due to factors such as further price- and demand-induced declines; by contrast, Marine Systems and Materials Services increased their contributions compared with the prior-year quarter.
Adjusted EBIT was significantly above the prior year (increase of €179 million or more than 100%) and grew in all segments except Decarbon Technologies compared with the prior-year quarter.
Net income was significantly below the prior year at €(11) million, mainly due to the gains in the prior-year quarter resulting from the sale of tk Electrical Steel India.
FCF before M&A of €(327) million was above the prior year, primarily because of higher earnings contributions and the absence of sales tax payments of €160 million in connection with the advance payment received by Marine Systems in the 1st quarter of 2024/2025.

In the 1st half, the segments' business performance developed as follows compared with the prior year. The 2nd quarter performance of the segments is explained in the "Segment review" section.

At Automotive Technology, order intake and sales were down year-on-year because of weaker customer demand and negative currency translation effects. Adjusted EBIT increased compared with the prior-year period despite lower volumes and negative currency translation effects. The main contributions to this were delivered by the positive effects from the reduction of personnel expenses and the restructuring and APEX measures that have been initiated.
Order intake at Decarbon Technologies exceeded the prior-year figure thanks to an increase in the water electrolysis business of thyssenkrupp nucera. However, most of the increased order intake was not yet translated into sales in the 1st half. Sales were below the prior year for this reason and due to higher costs in connection with new construction projects in the green hydrogen business, which have resulted in the lower accounting valuation of performance progress at thyssenkrupp nucera. Adjusted EBIT decreased due to low sales and project-related additional costs at thyssenkrupp nucera and in cement plant engineering. This was partly offset by a positive one-time effect in chemical plant engineering as the result of a customer agreement.
Despite the persistent economic challenges, sales at Materials Services were at the prior-year level. By contrast, adjusted EBIT improved thanks to cost-cutting measures and the focus on higher-margin businesses and increased prices for key product groups.
Steel Europe continued to see lower order intake and sales compared with the prior year because of persistently weak demand. Despite lower sales and shipments, adjusted EBIT increased due to declining raw material costs and reduced energy and personnel expenses. Compensation for electricity prices was above the prior-year level and had a positive impact on earnings.
Order intake at Marine Systems in the 1st half was lower than in the prior-year period despite two major orders received by the marine electronics business for the supply of heavyweight torpedoes and the associated equipment for the 212CD submarine class and the addition of two further 212CD class submarines in an extension of the order for Norway. The marine electronics and software business also received major orders. Sales were above the prior-year level but, as expected, adjusted EBIT was below the prior year due to higher administrative expenses in connection with the spin-off. The higher selling expenses in connection with ongoing campaigns also depressed earnings.

Full-year forecast

Compared with the previous forecast in the interim report for the 1st quarter of 2025/2026, the expectations for the group have been amended as follows:

Sales are now expected in a range between (3)% and 0% compared with the prior year (previously: (2)% to +1% compared with the prior year). This is mainly due to the adjustments at Decarbon Technologies (primarily delayed revenue recognition) and Steel Europe (primarily the product mix).

Macro and sector environment

Geopolitical crises delay recovery – global economic growth impacted by wars and protectionism

The anticipated recovery of the global economy has been dampened significantly. As well as the war in Ukraine, the main factors are the escalation of the Iran conflict which has triggered a substantial energy price shock and clouded economic prospects worldwide. The combination of weaker growth and the simultaneous rise in inflation represents a major challenge to the global economy.

Following an increase at year end, global gross domestic product expanded by 2.9% in 2025. Similar growth of 2.4% is expected for 2026. The AI boom remains a key growth driver in the USA, accounting for a large proportion of current economic expansion. China remains subject to structural weaknesses. Industry price pressures, the continuing real estate crisis and weak domestic demand are curbing the country's growth. Due to its strong dependence on oil and gas, Europe is particularly impacted by the effects of the Iran conflict. Higher energy costs are weighing on both production and consumer purchasing power, which is holding back the economic recovery.

In Germany, geopolitical crises have been influencing the investment climate for some time and this uncertainty has been exacerbated by the escalation of the Iran conflict. Nevertheless, a cautious economic recovery might be possible in the further course of the year, provided the German government displays determination in implementing the reform packages and state investment plans that were announced some time ago.

GROSS DOMESTIC PRODUCT

Real change compared to previous year in %	2025³)	2026³)
World	2.9	2.4
European Union	1.6	1.0
Germany	0.4	0.5
Eastern Europe and Central Asia	2.2	2.0
USA	2.1	2.1
China	5.0	4.5
Brazil	2.6	1.6
Japan	1.2	0.7
India	7.4	5.9
Middle East & North Africa	3.6	1.2

¹) Calendar year; in some cases forecast
Source: S&P Global Market Intelligence, Global Economy (April 2026)

Automotive – In fiscal year 2024/2025, global production of cars and light trucks expanded compared with a year earlier. Production in the 1st half of fiscal year 2025/2026 was slightly lower than in the prior-year period. At present, a year-on-year decline in production volumes is expected for the full fiscal year 2025/2026. The extent of this downward trend will depend primarily on the duration of the restrictions on passage through the Strait of Hormuz.

Machinery – Global sales in the machinery sector increased slightly in 2025 compared with the prior-year period. Machinery production in the European Union and China developed positively in 2025; only the USA saw a decline in this period. The German machinery industry ended 2025 with slight growth. However, order intake decreased significantly between December and February. Although further recovery is expected in 2026, geopolitical crises are having a growing impact on the investment climate.

Steel – Contrary to the stagnation forecasted in the Annual Report 2024/2025, global demand for steel decreased by 1.9% year-on-year in 2025. Whereas China reported an unexpected decline in 2025 due to the significant downturn in the real estate sector, demand in the USA increased – buoyed by the tariffs that are being imposed. Demand for finished steel in the European Union grew by 3.7% in 2025, coupled with an increase in flat steel imports. In Germany, demand for finished steel expanded by a significant 10.3% in 2025 but this was mainly attributable to the restocking of inventories with imported products. A moderate increase in global demand of 0.7% is expected in 2026. This information does not reflect the potential impact of the escalation in the Middle East conflict since the end of February 2026.

For further information about macroeconomic developments and the perspectives for the key industries, see the Annual Report 2024/2025.

IMPORTANT SALES MARKETS

	2025^{2)}	2026^{3)}
Vehicle production, million cars and light trucks^{2)}
World	93.0	91.4
Western Europe (incl. Germany)	10.1	9.7
Germany	4.2	4.0
North America (USA, Mexico, Canada)	15.3	15.0
USA	10.1	9.9
Mexico	4.0	3.8
China	32.9	32.1
Brazil	2.5	2.6
Machinery turnover, real, in % versus prior year
World	1.6	2.8
European Union	1.0	0.7
Germany	1.6	0.5
USA	(0.8)	0.3
China	2.4	4.3
Demand for steel, in % versus prior year
World	(1.9)	0.7
European Union	3.7	1.3
Germany	10.3	5.1
USA	2.0	1.7
China	(7.1)	(1.0)

2) Calendar year; in some cases forecast
3) Passenger cars and light commercial vehicles up to 6t
Sources: S&P Global Market Intelligence, Comparative Industry (April 2026), S&P Global Mobility, LV Production (April 2026), worldsteel (April 2026), national associations

Results of operations and financial position of the group

Analysis of the results of operations of the group

Net sales

Sales in the first six months of fiscal year 2025/2026 were 5% lower than in the prior-year period. With the exception of the Marine Systems segment, which posted a slight increase in sales, all segments contributed to this development. Detailed segment-specific sales information can be found in the “Segment review.”

Earnings

In the 1st half of fiscal year 2025/2026, the gross profit – a component of income from operations – declined year-on-year, by €68 million to €1,814 million; at the same time, the gross profit margin improved by 0.2 percentage points to 11.7%.

Among other things, these figures include a decrease in the cost of sales, which was largely in line with the sales trend overall. The main reasons for this were the significant decrease in materials expense due to the decline in sales and the absence of the impairment losses recognized in the Steel Europe segment in the 1st half of the prior year. Added to this was a positive one-time effect in chemical plant engineering at Decarbon Technologies in connection with a customer’s termination of a construction contract. These were partly offset by higher personnel expenses in particular, which mainly related to restructuring measures of €310 million in the Steel Europe segment in the 1st quarter of fiscal year 2025/2026 and €50 million in the cement plant engineering business of the Decarbon Technologies segment in the 2nd quarter of fiscal year 2025/2026, as well as the absence of income of €90 million recognized in the 1st quarter of the prior year from the measurement of CO₂ forward contracts also in the Steel Europe segment. In connection with the initial presentation of the core business of Automation Engineering as a disposal group in accordance with IFRS 5 as of December 31, 2025, impairments of property, plant and equipment and inventories totaling €30 million were recognized in the cost of sales in the 1st quarter of the reporting year; the sale was completed on March 31, 2026.

In the 1st half of fiscal year 2025/2026, the income from operations of the thyssenkrupp group decreased year-on-year, by €466 million to a loss of €194 million. This decline resulted mainly from the absence of the gains of €321 million from the sale of thyssenkrupp Electrical Steel India in the Steel Europe segment recognized in other gains and losses in the 2nd quarter of the prior year and the loss of €15 million from the sale of the core business of Automation Engineering recognized in the 2nd quarter of fiscal year 2025/2026, in addition to the lower gross profit. An additional impact came from increased selling expenses as well as general and administrative expenses, especially as the result of restructuring expenses of €91 million recognized in the Steel Europe segment in the 1st quarter of the reporting year. Moreover, there was a decline in other income as the result of lower insurance refunds at Steel Europe. The overall increase in other expenses mainly related to higher non-income taxes.

In the 1st half of fiscal year 2025/2026, EBIT of the thyssenkrupp group – like income from operations described above – decreased year-on-year, by €465 million to a loss of €174 million.

Special items

In the 1st half of the fiscal year, group EBIT was impacted by special items totaling €583 million, which included €472 million in restructuring expenses, mainly in the Steel Europe segment (€385 million) and in the cement plant engineering business of the Decarbon Technologies segment (€50 million). The special items also included the aforementioned impairments of €30 million recognized in the 1st quarter of the reporting year in connection with the sale of the core business of Automation Engineering that was completed on March 31, 2026, as well as the corresponding loss from disposal of €15 million in the 2nd quarter of the reporting year. Adjusted EBIT (EBIT adjusted for special items) increased by significant €199 million to €409 million. Further information about segment-related special items and the adjusted EBIT of the individual segments can be found in the “Segment review.”

Financial income/(expense)

Compared with the 1st half of the prior year, the financial income/(expense) decreased by €21 million to a negative figure of €(5) million, mainly due to the lower positive net interest from net financial assets resulting primarily from a reduction in cash and cash equivalents. An additional negative effect came from the absence of a net €7 million in income recognized in the 1st half of the prior year relating to the ordinary shares purchased in connection with the sale of the elevator activities, which, since September 29, 2025, are no longer accounted for by the equity method but as an investment in accordance with IFRS 9.

Income tax (expense)/income

Income tax expense was attributable to tax expense on positive earnings in foreign countries, whereas negative earnings did not result in lower taxes, as well as to a year-on-year reduction in foreign withholding taxes.

Net income/(loss)

After taking into account income taxes, the net loss was €345 million, following net income of €134 million in the 1st half of the prior year. The earnings per share attributable to the shareholders of thyssenkrupp AG decreased by €0.73 year-on-year to a loss per share of €0.57.

Analysis of the financial position of the group

Analysis of the cash flows of the group

The liquid funds taken into account in the statement of cash flows correspond to the "Cash and cash equivalents" item in the statement of financial position.

Operating cash flows

Compared with the prior-year period, operating cash flows decreased by €1,199 million to €(1,205) million in the first six months of fiscal year 2025/2026. The increase in funds tied up in net working capital was influenced primarily by the absence of the high advance payment received from a customer in December 2024 for the addition of four submarines in a substantial extension of an order in the Marine Systems segment and by the increase in inventories and trade accounts receivable.

Cash flows from investing activities

The overall increase in the negative cash flows from investing activities, by €458 million to €604 million, mainly resulted from the absence of inflows from the sale of thyssenkrupp Electrical Steel in the 2nd quarter of the prior year. This increase also included a decrease in payments from government grants in connection with the direct reduction plant in the Steel Europe segment and lower capital expenditures for property, plant and equipment.

Cash flows from financing activities

In the 1st half of fiscal year 2025/2026, cash flows from financing activities were negative – as in the prior year – at €382 million. However, this figure improved by €501 million year-on-year, mainly due to the absence of the repayment of a bond in the prior-year period.

Free cash flow and net financial assets

RECONCILIATION TO FREE CASH FLOW BEFORE M&A

million €	1st half ended March 31, 2025	1st half ended March 31, 2026	Change	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026	Change
Operating cash flows (consolidated statement of cash flows)	(7)	(1,205)	(1,199)	(312)	26	339
Cash flow from investing activities (consolidated statement of cash flows)	(146)	(604)	(458)	141	(344)	(485)
Free cash flow (FCF)	(153)	(1,809)	(1,656)	(172)	(318)	(146)
-/+ Cash inflow/cash outflow resulting from material M&A transactions	(364)	55	419	(369)	28	397
Adjustment due to leases	(73)1)	(73)	0	(28)1)	(37)	(9)
Free cash flow before M&A (FCF before M&A)	(589)1)	(1,827)	(1,238)	(569)1)	(327)	242

1) See preliminary remarks.

In the reporting half-year, free cash flow declined year-on-year, by €1,656 million to €(1,809) million, mainly due to the aforementioned increase in funds tied up in net working capital. Free cash flow before M&A, i.e., the cash inflow from operating activities excluding cash inflows and outflows from significant portfolio measures, also decreased by €1,238 million to €(1,827) million. The smaller decline compared with free cash flow mainly related to the cash inflows from the sale of thyssenkrupp Electrical Steel India in the 2nd quarter of the prior year.

Net financial assets decreased from €4.9 billion as of September 30, 2025, to €2.8 billion as of March 31, 2026, mainly due to an increase in funds tied up in net working capital.

The debenture bond of USD 100 million was repaid on time on January 26, 2026.

Available liquidity as of March 31, 2026, amounted to €4.6 billion (€3.6 billion liquid funds and €1.1 billion undrawn committed credit lines).

As of March 31, 2026, notes of €64 million had been issued under the existing commercial paper program, which has a maximum issue volume of €3.0 billion.

Rating

RATING

	Long-term-Rating	Short-term-Rating	Outlook
Standard & Poor's	BB	B	stable
Moody's	Ba3	Not Prime	stable

Analysis of the assets of the group

Total non-current assets

As of March 31, 2026, non-current assets amounted to €9,620 million, which was €277 million more than as of September 30, 2025. The increase in property, plant and equipment contained in this figure resulted primarily from investments that were higher than depreciation/amortization and impairments. The increase in other financial assets mainly concerned the subsequent measurement of the interest-free loan recognized in connection with the Elevator investment.

Total current assets

Compared with September 30, 2025, current assets decreased by €702 million to €18,840 million. The primary reason for this was the overall decrease in cash and cash equivalents, by €2,176 million to €3,549 million, mainly as the result of the negative free cash flow in the reporting half-year. Cash and cash equivalents of €218 million in connection with the advance payment received from a customer in December 2024 for the addition of four submarines in a substantial extension of an order in the Marine Systems segment were subject to a restriction as of March 31, 2026. A further reducing effect came from the decrease in contract assets that primarily resulted from the execution of construction contracts in the plant engineering businesses of the Marine Systems and Decarbon Technologies segments. This was partly offset by significant volume- and price-induced increases in inventories and trade accounts receivable in the Materials Services segment and corresponding significant volume-induced increases in the Steel Europe segment. An additional effect came from an increase in other non-financial assets due to higher receivables in connection with government grants for the construction of the direct reduction plant in the Steel Europe segment and to increased advance payments received in respect of operating activities.

Total equity

The decline of €276 million in total equity compared with September 30, 2025, to €10,284 million, was mainly due to the net loss in the reporting period, the distribution of profits attributable to non-controlling interest that had been approved but not yet paid out and the dividend payment by thyssenkrupp AG in February 2026. This was partly offset particularly by gains from the remeasurement of pensions as a result of higher pension discount rates recognized in cumulative other comprehensive income and of currency translation effects. The increase in non-controlling interests contained therein primarily resulted from the spin-off in October 2025 of a minority stake of 49% in the marine business TKMS AG & Co. KGaA (TKMS).

Total non-current liabilities

Compared with September 30, 2025, non-current liabilities increased slightly by a total €87 million to €6,814 million. The main reason for this was the increase in other provisions, which primarily related to the planned personnel restructuring measures in the Steel Europe segment. This was offset mainly by the overall decline in pensions and similar obligations, which was above all due to the remeasurement of pensions as a result of higher pension discount rates, partly offset by an increase in partial retirement obligations in connection with the restructuring measures in the Steel Europe segment.

Total current liabilities

Compared with September 30, 2025, current liabilities fell by a total €235 million to €11,362 million. The main cause of this was a decrease in contract liabilities, primarily in connection with the execution of construction contracts in the Decarbon Technologies segment. Moreover, the decrease in financial debt resulted mainly from the aforementioned repayment of a debenture bond in January 2026.

Segment review

Automotive Technology

Performance in the 2nd quarter

AUTOMOTIVE TECHNOLOGY IN FIGURES

		1st half ended March 31, 2025	1st half ended March 31, 2026	Change in %	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026	Change in %
Order intake	million €	3,374	3,275	(3)	1,744	1,709	(2)
Sales	million €	3,471	3,327	(4)	1,802	1,702	(6)
EBITDA	million €	146	140	(4)	99	71	(28)
EBIT	million €	7	(12)	--	28	1	(96)
Adjusted EBIT	million €	36	60	66	24	41	68
Adjusted EBIT margin	%	1.0	1.8	—	1.3	2.4	—
Investments	million €	130	86	(33)	58	42	(27)
Employees (March 31)		30,595	27,642	(10)	30,595	27,642	(10)

Order intake and sales

At Automotive Technology, order intake was almost level with the prior year. More orders in automotive plant engineering compared with the weak prior-year quarter were offset in part by lower demand in the automotive serial business. Sales could not match the level of the prior-year quarter due to a decline in automotive plant engineering and fewer customer call-offs in the automotive serial business. An exception was the business with rotor and assembled camshaft modules and forged components. Sales were additionally reduced by negative currency translation effects, mainly relating to US and Chinese currencies.

Adjusted EBIT

Adjusted EBIT increased compared with the prior year despite lower volumes, negative currency translation effects and an increase in special freight charges. Significant contributions were delivered by the positive effects from the reduction of personnel expenses and the restructuring measures that have been initiated. APEX measures such as the successful negotiation of claims for volume shortfalls, new prices, procurement cost reductions and a number of measures to increase efficiency had a positive impact.

Material special items

Material special items in the reporting period related to personnel restructuring expenses (€(16) million) and a loss from disposal (€(15) million) in connection with the sale of the core business of Automation Engineering.

Investments

Investments were significantly below the prior-year level. The focus of investment remained on order-related projects for electric power-assisted steering systems in Mexico and Europe, for example, and on the production of rotor and camshaft modules in Germany, Hungary, Mexico, China and Brazil.

Decarbon Technologies

Performance in the 2nd quarter

DECARBON TECHNOLOGIES IN FIGURES

		1st half ended March 31, 2025	1st half ended March 31, 2026	Change in %	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026	Change in %
Order intake	million €	1,213	1,301	7	645	818	27
Sales	million €	1,791	1,423	(21)	884	685	(23)
EBITDA	million €	82	(19)	--	41	(31)	--
EBIT	million €	25	(76)	--	12	(60)	--
Adjusted EBIT	million €	34	(17)	--	16	(1)	--
Adjusted EBIT margin	%	1.9	(1.2)	—	1.9	(0.2)	—
Investments	million €	48	55	13	28	27	(4)
Employees (March 31)		12,581	11,977	(5)	12,581	11,977	(5)

Order intake and sales

Order intake was above the prior-year level. The increase is mainly attributable to the water electrolysis business of thyssenkrupp nucera. Order intake also increased at Rothe Erde, while chemical plant engineering posted a decrease due to project deferrals influenced by the customary volatility of the project business and customer-side delays. The decline in sales was mainly attributable to the water electrolysis business of thyssenkrupp nucera due to the low order level in previous quarters and the reduced accounting valuation of performance progress in one project. This resulted from higher costs in connection with new construction projects in the green hydrogen business.

Adjusted EBIT

Adjusted EBIT was negative and below the prior year, mainly due to project-related additional costs in the water electrolysis business of thyssenkrupp nucera. These were partly offset by a positive one-time effect in chemical plant engineering in connection with a customer agreement. APEX measures – especially restructuring measures, efficiency improvements and the optimization of procurement – buoyed adjusted EBIT.

Material special items

The special items mainly related to restructuring expenses in cement plant engineering in Germany (€55 million).

Investments

Investments almost matched the prior-year level and were mainly attributable to strengthening the Rothe Erde technology portfolio and investing in the construction of a demonstration ammonia cracker by Uhde.

Materials Services

MATERIALS SERVICES IN FIGURES

Materials Services increased both order intake and sales. The main drivers were the warehousing business in North America and the international trading business; however, the warehousing business in Europe and the automotive-related service centers also grew. Higher prices in key product groups had a positive impact. Order intake and sales declined in the supply chain business.

Shipments of materials and raw materials declined to 1.7 million tons (prior year: 2.3 million tons).

Adjusted EBIT increased significantly compared with the prior-year quarter. Positive effects came from cost-cutting measures as part of efficiency and restructuring programs – including APEX – that were implemented and completed in the past fiscal year and from increased prices in key product groups. By far the largest increase was recorded by the warehousing business in North America; however, the warehousing business in Europe, the automotive-related service centers and the supply chain business also developed positively.

Special items amounted to €(14) million in the reporting period. These mainly related to restructuring expenses associated with a site closure in Germany as well as impairments of assets.

Investments were below the prior-year level. The focus of investment was on copper manufacturing in North America.

Steel Europe

STEEL EUROPE IN FIGURES

Order intake and sales at Steel Europe were below the prior-year level. This was mainly attributable to the greatly reduced price level, with particularly large decreases for tinplate (due to factors including the restrictive US trade policy) and electrical steel (mainly due to imports to the EU from third countries). In volume terms, positive trends were seen in both shipments and order intake. However, increased demand from automotive and industrial customers was partly offset by negative developments in the tinplate and electrical steel businesses.

Adjusted EBIT was higher than the prior year, with lower raw material costs offsetting declining revenues. Further benefits resulted from an improvement in production performance in terms of the processing costs (primarily energy costs), from lower personnel expenses owing to the consistent hiring freeze and the restructuring program and from positive one-time effects due to the remeasurement of risks. APEX measures continued to have a significant impact on the segment's performance across the value chain. This was underscored by further efficiency improvements in production and logistics, general cost improvements and additional procurement benefits. In this fiscal year as well, a substantial contribution is being delivered by the technical and commercial optimization of raw material use.

The adjustment of provisions for carbon consumption resulted in expenses of €18 million as a consequential effect of terminating cash flow hedges for CO₂ forward contracts in the previous year. Moreover, the restructuring provision recognized in Q1 2025/2026 for the Steel Realignment was reduced by €16 million thanks to a new collective agreement.

Investments were above the prior-year level. In the DR plant project, the construction of the DR tower was started on February 3, 2026, following the completion of the civil engineering work. Preassembly of the two smelters started in mid-March. At the same time, interior fitting work is ongoing in the three distribution stations. Intensive preparations are currently being made for the modernization of the continuous caster in Duisburg, scheduled to start in Q4 2025/2026.

Marine Systems

MARINE SYSTEMS IN FIGURES

Against the backdrop of continued high demand for defense technologies, Marine Systems significantly increased order intake in the 2nd quarter of 2025/2026 due to the addition of two further 212CD class submarines in an extension of the order for Norway and additional orders received by the marine electronics business. As of the reporting date, the order backlog had grown further and now stands at a new record level of €20 billion thanks to the extensive order intake of recent years.

Sales in the 2nd quarter were increased thanks to the project progress achieved in the reporting period compared with the previous year. Nevertheless, Marine Systems saw positive effects, especially in the submarine new construction and marine electronics businesses.

Adjusted EBIT was positively influenced by further project progress achieved in the new construction and marine electronics businesses, partly offset by higher general and administrative expenses – mainly in connection with the establishment of the stand-alone solution for the Marine Systems segment. Moreover, planned project spending was increased in sales and in research and development to acquire further orders and deliver future-oriented products.

During the reporting period, a significant special item was incurred for the payment of the real estate transaction tax of €8 million in connection with the spin-off.

Investments were above the prior-year level and were concentrated at the new Wismar site with the goal of its modification to meet the needs of the Marine Systems product portfolio. Moreover, further investment was made in the shipyard at the Kiel site, which is now in the final phase of modernization.

Interim management report | Report on the economic position, Compliance, Employees

Corporate Headquarters

Performance in the 2nd quarter

Adjusted EBIT at Corporate Headquarters was €(35) million and thus above the prior-year figure. This resulted mainly from lower expenses due to the adjustment of provisions for share-based compensation and from lower general and administrative expenses.

Special items

The special items resulted mainly from expenses in connection with M&A transactions.

No material investments were made during the reporting period.

Compliance

Strong values are the basis of our internal collaboration, particularly in the course of the transformation of thyssenkrupp and in a persistently difficult economic environment. They are especially anchored in the Mission Statement, Code of Conduct and Compliance Commitment by the Executive Board. On this basis, we continuously enhanced and implemented the thyssenkrupp compliance management system in the core compliance topics of corruption prevention, antitrust law, data compliance, anti-money laundering, and trade compliance. Moreover, Compliance was closely involved in various questions relating to legal sanctions, implementing compliance in the supply chain and, as in the past, advising on various antitrust issues in M&A activities.

More information on compliance at thyssenkrupp can be found in the 2024/2025 Annual Report and on the website at https://www.thyssenkrupp.com/en/company/compliance¹.

Employees

As of March 31, 2026, 90,916 people were employed by thyssenkrupp worldwide. Compared with September 30, 2025, this represents a reduction of 2,459 employees or 2.6% and compared with March 31, 2025, a reduction of 4,664 employees or 4.9%. These job reductions resulted mainly from measures implemented by the businesses to improve their competitiveness and adapt their business models to the dynamic market environment, ensuring their consistent focus on profitable growth. In addition, the headcount figures reflect the process that has been initiated to transform thyssenkrupp AG from an integrated industrial conglomerate into a financial holding company. For example, as of October 1, 2025, IT services that were previously delivered by internal resources were transferred to external service providers.

Further information on employees at thyssenkrupp can be found in the 2024/2025 Annual Report.

¹ The link is outside the scope of the review report.

Interim management report | Changes on the Supervisory Board and Executive Board, Technology and innovations

Changes on the Supervisory Board and Executive Board

There were no changes on the Executive Board during the reporting period.

As of February 28, 2026, employee representative Kirstin Zeidler left the Supervisory Board of thyssenkrupp AG. Her successor is Marc Winter, who was appointed as a member of the Supervisory Board with effect from March 9, 2026.

A further employee representative, Achim Hass, also left the Supervisory Board of thyssenkrupp AG as of March 31, 2026. His successor is André Kannenberg, who was appointed as a member of the Supervisory Board with effect from April 1, 2026.

The résumés of the Supervisory Board and Executive Board members can be found on our website at https://www.thyssenkrupp.com/en/company/management/supervisory-board/ and https://www.thyssenkrupp.com/en/company/management/executive-board.²

Technology and innovations

We deliver innovative solutions that offer our customers support in implementing climate- and resource-saving processes and introducing more sustainable products.

Technology for the production of biomethanol

thyssenkrupp was selected for a planned biomass-to-methanol project with an annual production capacity of 450,000 tons of biomethanol for Nova Sustainable Fuels in Canada. The project will combine the PRENFLO biomass gasification technology with the methanol synthesis process. Uhde is providing both technologies, the initial goal being to validate the assumed benefits of overall system integration. This aims to provide a solid basis for future investment decisions and represents a first step in establishing sustainable fuel production in Canada. It is planned that the project will produce two sustainable fuels for decarbonizing the transportation sector – sustainable aviation fuel and methanol.

Electrolyzers for a green hydrogen project in Southern Europe

thyssenkrupp nucera and Spanish company Moeve have signed an agreement for the engineering, procurement, fabrication and supply of alkaline water electrolysis plants. Under the contract, thyssenkrupp nucera will supply 15 standardized 20-megawatt electrolyzer units for the first phase of the Andalusian Green Hydrogen Valley project, which will see the construction of Southern Europe's largest green hydrogen plant in Huelva, Spain. The solar and wind resources in this region make it a favorable location to produce green hydrogen in Europe. The planned electrolysis output of 300 megawatts will provide a nominal production capacity of around 45,000 tons of green hydrogen each year. In the future, there are plans to work with partners to build a scalable hydrogen value chain in southern Spain. This will include the storage, transportation and export infrastructure and will contribute to industrial decarbonization in various parts of Europe.

² The links are outside the scope of the review report.

Interim management report | Technology and innovations, Events after the reporting date

CO₂-reduced steel for the series production of vehicles

thyssenkrupp has started supplying bluemint® recycled CO₂-reduced steel to the BMW Group. Central application areas – the outer panels, interior parts and the battery housing – in the BMW iX3 will be made of bluemint® Steel in the future. This material has a high proportion of recycled material and achieves CO₂ savings verified by TÜV Süd compared with conventional steel. bluemint® recycled is a mass-balanced recycled product. A mathematical allocation procedure ensures that CO₂ reductions from the production process can be attributed to products on a pro rata basis. This results in a CO₂-reduced steel product that continues to satisfy the quality requirements in terms of surface quality, for example. The customer is thus able to use bluemint® recycled in series production without having to adapt existing processes.

Further information on technology and innovations at thyssenkrupp can be found in the 2024 / 2025 Annual Report.

Events after the reporting date

The reportable events that occurred between the reporting date at the end of the 1st half (March 31, 2026) and approval of the report for publication (May 8, 2026) are presented in Note 16 to the interim financial statements.

Interim management report | Forecast, opportunity and risk report

Forecast, opportunity and risk report

2025/2026 forecast

The forecast for 2025/2026 is based on the current composition of the group. It does not take account of the effects of potential portfolio measures. The economic conditions on which our forecast is based can be found in the subsection headed "Macro and sector environment" in the "Report on the economic position." For the corresponding opportunities and risks see the "Opportunity and risk report," which follows this subsection.

Estimating future economic development remains challenging overall. This applies to macroeconomic trends in general, as well as to the markets of relevance for thyssenkrupp: steel, automotive, materials and green technologies. At the same time, it is assumed that macroeconomic volatility will remain high in light of various geopolitical crises and vulnerabilities, for example, as a result of the tariff policy in the USA and the response of other economies as well as the further development of the Iran conflict. The development of our key performance indicators could therefore be exposed to corresponding fluctuations. In light of the expected economic conditions as of the date of this forecast and the underlying assumptions, we consider the following view on fiscal year 2025/2026 to be appropriate. Compared with the previous forecast in the Annual Report 2024/2025, the expectations for the group are unchanged, although compensating adjustments were made in the segments. Compared with the previous forecast in the interim report for the 1st quarter of 2025/2026, the expectations for the group have been amended as follows:

Sales are now expected in a range between (3)% and 0% compared with the prior year (previously: (2)% to +1% compared with the prior year). This is mainly due to the adjustments at Decarbon Technologies (primarily delayed revenue recognition) and Steel Europe (primarily the product mix).

For further information on the expected development of our key performance indicators, please refer to the Forecast, opportunity and risk report in the Annual Report 2024/2025 and in the interim report on the 1st quarter of 2025/2026.

Interim management report | Forecast, opportunity and risk report

EXPECTATIONS FOR THE SEGMENTS AND THE GROUP

		Fiscal year 2024 / 2025	Forecast for fiscal year 2025 / 2026
Automotive Technology	Sales	million € 7,035	(7)% to (4)% compared with the prior year
	Adjusted EBIT	million € 187	Between €225 million and €325 million
Decarbon Technologies	Sales	million € 3,481	(15)% to (12)% compared with the prior year
(previously: (10)% to (7)% compared with the prior year)
	Adjusted EBIT	million € 71	Between 0 and €100 million
Materials Services	Sales	million € 11,432	+2% to +5% compared with the prior year
	Adjusted EBIT	million € 132	Between €125 million and €225 million
Steel Europe	Sales	million € 9,791	(6)% to (3)% compared with the prior year
(previously: (3)% to 0% compared with the prior year)
	Adjusted EBIT	million € 337	Between €275 million and €375 million
Marine Systems	Sales	million € 2,187	+2% to +5% compared with the prior year
	Adjusted EBIT	million € 127	Between €100 million and €150 million
Group	Sales	million € 32,837	(3)% to 0% compared with the prior year
(previously: (2)% to +1% compared with the prior year)
	Adjusted EBIT	million € 640	Between €500 million and €900 million
	Investments^{1)}	million € 1,461	Between €1,400 million and €1,600 million
	Free cash flow before M&A^{1)}	million € 363	Between €(600) million and €(300) million,
incl. around €350 million in cash outflows for restructuring
	Net income	million € 532	Between €(800) million and €(400) million
	tkVA	million € (1,167)	Between €(1,200) million and €(1,600) million
	ROCE	% 0.7%	Between (4)% and 0%

1) See the subsection headed "Management of the group" in the section headed "Fundamental information about the group" in the Annual Report 2024 / 2025 for the amended definition of free cash flow before M&A from fiscal year 2025 / 2026.

Opportunities and risks

Opportunities

Opportunities derive from further progress in the strategic realignment of thyssenkrupp by consistently implementing the future model for the alignment of the group based on the stepwise transition of all businesses to stand-alone solutions that are open to third-party investment. Our strategic alignment is focused on leveraging the opportunities harbored by key future-oriented areas with significant growth potential in the medium to long term. Environmental issues play a central role here. On the path to climate neutrality, hydrogen technologies, green chemicals, renewable energy, e-mobility and supply chains are relevant focus areas. thyssenkrupp sees sustainability as an opportunity to work even more closely with its customers and for further innovations.

Risks

From the present standpoint, there are still no risks that threaten the company's ability to continue as a going concern.

Geopolitical risks are continuing to intensify, resulting in tangible impacts on the global economic environment and the possibility of high macroeconomic and earnings risks. Alongside the ongoing war in Ukraine, the security situation in the Middle East has escalated to new levels. The tensions in the Strait of Hormuz are increasing the risk of supply interruptions and price spikes, especially for oil and gas. Moreover, the unresolved Taiwan conflict remains a key risk for global production and supply chains.

In addition, tariffs, sanctions and export controls are being used increasingly in a targeted manner, impeding trade flows, extending supply chains and potentially restricting access to key technologies and critical raw materials. Overall, global crises are also raising the pressure on energy-intensive and high-emission industry sectors to transform.

At the same time, the threat of cyber attacks and extreme climate-related events is increasing, dictating the need for higher standards of information security, resilience and emergency management.

Also, new laws and other changes in the legal framework at national and international level could harbor risks for our business activities if they lead to higher costs or other disadvantages for thyssenkrupp compared with our competitors. Compliance risks especially in the area of antitrust law may have enormous potential to cause financial and reputational damage to thyssenkrupp.

In the course of executing major investment projects with a long run time and major orders in the plant engineering and marine businesses especially, cost overruns and/or delays in individual project phases and differences in the interpretation of the contracts concluded in this connection cannot be ruled out.

To ensure the success of our strategic realignment, portfolio measures and the restructuring of existing business activities are possible and generally associated with execution risks. In addition, our strategic businesses are regularly tested for impairment.

The detailed comments on opportunities and risks in the 2024/2025 Annual Report remain valid.

Condensed interim financial statements of the thyssenkrupp group

28 thyssenkrupp group – statement of financial position
30 thyssenkrupp group – statement of income
31 thyssenkrupp group – statement of comprehensive income
32 thyssenkrupp group – statement of changes in equity
34 thyssenkrupp group – statement of cash flows
36 thyssenkrupp group – selected notes

54 Review report
55 Responsibility statement

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of financial position

thyssenkrupp group – statement of financial position

ASSETS

million €	Note	Sept. 30, 2025	March 31, 2026
Intangible assets		1,793	1,805
Property, plant and equipment (inclusive of investment property)		4,299	4,516
Investments accounted for using the equity method		134	157
Finance lease receivables		55	46
Other financial assets		2,153	2,214
Other non-financial assets		488	483
Deferred tax assets		421	398
Total non-current assets		9,343	9,620
Inventories		6,930	7,571
Trade accounts receivable		3,929	4,362
Finance lease receivables		29	29
Contract assets		790	692
Other financial assets		465	507
Other non-financial assets		1,526	1,938
Current income tax assets		149	193
Cash and cash equivalents	14	5,725	3,549
thereof restricted		547	218
Total current assets		19,542	18,840
Total assets		28,885	28,461

See accompanying notes to financial statements.

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of financial position

EQUITY AND LIABILITIES

million €	Note	Sept. 30, 2025	March 31, 2026
Capital stock		1,594	1,594
Additional paid-in capital		6,664	6,664
Retained earnings		1,557	841
Cumulative other comprehensive income		(48)	60
Equity attributable to thyssenkrupp AG's stockholders		9,767	9,158
Non-controlling interest		793	1,126
Total equity	03	10,560	10,284
Provisions for pensions and similar obligations	05	5,298	5,070
Provisions for other non-current employee benefits		192	184
Other provisions	06	432	701
Deferred tax liabilities		263	275
Financial debt		520	544
Other financial liabilities		14	14
Other non-financial liabilities		7	26
Total non-current liabilities		6,728	6,814
Provisions for current employee benefits		186	151
Other provisions	06	1,178	1,211
Current income tax liabilities		162	166
Financial debt	07	356	262
Trade accounts payable		4,314	4,344
Other financial liabilities		651	622
Contract liabilities		3,405	3,260
Other non-financial liabilities		1,344	1,346
Total current liabilities		11,597	11,362
Total liabilities		18,325	18,177
Total equity and liabilities		28,885	28,461

See accompanying notes to financial statements.

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of income

thyssenkrupp group – statement of income

million €, earnings per share in €	Note	1st half ended March 31, 2025	1st half ended March 31, 2026	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026
Sales	10, 11	16,410	15,566	8,579	8,380
Cost of sales		(14,528)	(13,753)	(7,662)	(7,289)
Gross Margin		1,882	1,814	916	1,091
Research and development cost		(117)	(117)	(62)	(62)
Selling expenses		(1,182)	(1,203)	(618)	(616)
General and administrative expenses		(841)	(854)	(442)	(385)
Other income	12	277	256	65	61
Other expenses		(45)	(80)	1	(27)
Other gains/(losses), net		298	(9)	316	(5)
Income/(loss) from operations		272	(194)	177	56
Income from companies accounted for using the equity method	13	27	21	83	9
Finance income		428	320	170	187
Finance expense		(440)	(346)	(162)	(198)
Financial income/(expense), net		16	(5)	91	(2)
Income/(loss) before tax		288	(199)	267	55
Income tax (expense)/income		(154)	(146)	(101)	(66)
Net income/(loss)		134	(345)	167	(11)
Thereof:
thyssenkrupp AG's shareholders		104	(352)	155	1
Non-controlling interest		30	8	11	(12)
Net income/(loss)		134	(345)	167	(11)
Basic and diluted earnings per share based on	14
Net income/(loss) (attributable to thyssenkrupp AG's shareholders)		0.17	(0.57)	0.25	0.00

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of comprehensive income

thyssenkrupp group – statement of comprehensive income

million €	1st half ended March 31, 2025	1st half ended March 31, 2026	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026
Net income/(loss)	134	(345)	167	(11)
Items of other comprehensive income that will not be reclassified to profit or loss in future periods:
Other comprehensive income from remeasurements of pensions and similar obligations
Change in unrealized gains/(losses), net	178	210	198	34
Tax effect	3	(5)	0	(3)
Other comprehensive income from remeasurements of pensions and similar obligations, net	181	205	198	31
Unrealized gains/(losses) from fair value measurement of equity instruments
Change in unrealized gains/(losses), net	5	19	3	18
Tax effect	0	0	0	0
Net unrealized gains/(losses)	5	19	3	18
Share of unrealized gains/(losses) of investments accounted for using the equity method	(2)	0	0	0
Subtotals of items of other comprehensive income that will not be reclassified to profit or loss in future periods	184	224	200	48
Items of other comprehensive income that could be reclassified to profit or loss in future periods:
Foreign currency translation adjustment
Change in unrealized gains/(losses), net	61	94	(139)	91
Net realized (gains)/losses	30	1	30	1
Net unrealized gains/(losses)	91	95	(109)	92
Unrealized gains/(losses) on cash flow hedges
Change in unrealized gains/(losses), net	20	2	(104)	(33)
Net realized (gains)/losses	(71)	(5)	1	(2)
Tax effect	0	(3)	(2)	(4)
Net unrealized gains/(losses)	(51)	(6)	(105)	(39)
Share of unrealized gains/(losses) of investments accounted for using the equity method	56	0	9	5
Subtotals of items of other comprehensive income that could be reclassified to profit or loss in future periods	95	89	(206)	58
Other comprehensive income	279	313	(5)	106
Total comprehensive income	413	(32)	161	95
Thereof:
thyssenkrupp AG's shareholders	385	(26)	151	90
Non-controlling interest	28	(5)	10	5

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of changes in equity

thyssenkrupp group – statement of changes in equity

Equity attributable to thyssenkrupp AG's stockholders

million €, (except number of shares)	Number of shares outstanding	Capital stock	Additional paid-in capital	Retained earnings
Balance as of Sept. 30, 2024	622,531,741	1,594	6,664	1,004
Net income/(loss)				104
Other comprehensive income				179
Total comprehensive income				283
Gains/(losses) resulting from basis adjustment
Profit attributable to non-controlling interest
Payment of thyssenkrupp AG dividend				(93)
Other changes				(14)
Balance as of March 31, 2025	622,531,741	1,594	6,664	1,179
Balance as of Sept. 30, 2025	622,531,741	1,594	6,664	1,557
Net income/(loss)				(352)
Other comprehensive income				214
Total comprehensive income				(138)
Gains/(losses) resulting from basis adjustment
Profit attributable to non-controlling interest
Payment of thyssenkrupp AG dividend				(93)
Spin-off Marine Systems (changes of shares of already consolidated companies)				(485)
Other changes				1
Balance as of March 31, 2026	622,531,741	1,594	6,664	841

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of changes in equity

Equity attributable to thyssenkrupp AG's stockholders

Cumulative other comprehensive income

69

93
93




162
(112)

88
88





(24)

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of cash flows

thyssenkrupp group – statement of cash flows

million €	1st half ended March 31, 2025	1st half ended March 31, 2026	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026
Net income/(loss)	134	(345)	167	(11)
Adjustments to reconcile net income/(loss) to operating cash flows:
Deferred income taxes, net	9	30	0	15
Depreciation, amortization and impairment of non-current assets	572	368	279	180
Reversals of impairment losses of non-current assets	(49)	0	(25)	0
(Income)/loss from companies accounted for using the equity method, net of dividends received	(27)	(21)	(83)	(9)
(Gain)/loss on disposal of non-current assets	(295)	19	(312)	14
Changes in assets and liabilities, net of effects of acquisitions and divestitures and other non-cash changes
- Inventories	(214)	(631)	551	146
- Trade accounts receivable	(79)	(434)	(624)	(707)
- Contract assets	(84)	87	(55)	197
- Provisions for pensions and similar obligations	(119)	(17)	(82)	(89)
- Other provisions	(66)	256	(45)	26
- Trade accounts payable	(13)	8	290	557
- Contract liabilities	622	(124)	(157)	(103)
- Other assets/liabilities not related to investing or financing activities	(397)	(399)	(217)	(190)
Operating cash flows	(7)	(1,205)	(312)	26
Purchase of investments accounted for using the equity method and non-current financial assets	(2)	(2)	(1)	(1)
Expenditures for acquisitions of consolidated companies net of cash acquired	(5)	(4)	(3)	(4)
Capital expenditures for property, plant and equipment (inclusive of advance payments) and investment property	(718)	(555)	(278)	(323)
Capital expenditures for intangible assets (inclusive of advance payments)	(38)	(33)	(23)	(8)
Proceeds from government grants	193	0	13	0
Proceeds/(cash outflows) from disposals of previously consolidated companies net of cash disposed	438	(12)	438	(12)
Proceeds from disposals of property, plant and equipment and investment property	(19)	2	(9)	3
Proceeds from disposals of intangible assets	4	0	4	0
Cash flows from investing activities	(146)	(604)	141	(344)

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – statement of cash flows

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – selected notes

thyssenkrupp group – selected notes

Corporate information

thyssenkrupp Aktiengesellschaft ("thyssenkrupp AG" or "Company") is a publicly traded corporation domiciled in Duisburg and Essen in Germany. The condensed interim consolidated financial statements of thyssenkrupp AG and its subsidiaries for the period from October 1, 2025 to March 31, 2026, were reviewed and authorized for issue in accordance with a resolution of the Executive Board on May 8, 2026.

Basis of presentation

The accompanying group's condensed interim consolidated financial statements have been prepared pursuant to section 115 of the German Securities Trading Act (WpHG) and in conformity with IAS 34 "Interim financial reporting". They are in line with the International Financial Reporting Standards (IFRS) and its interpretations adopted by the International Accounting Standards Board (IASB) for interim financial information effective within the European Union. Accordingly, these financial statements do not include all of the information and footnotes required by IFRS for complete financial statements for year-end reporting purposes.

The accounting principles and practices as applied in the group's condensed interim consolidated financial statements as of March 31, 2026 correspond to those pertaining to the most recent annual consolidated financial statements with the exception of the recently adopted accounting standards. A detailed description of the accounting policies is published in the notes to the consolidated financial statements of our annual report 2024/2025.

Review of estimates and judgments

The preparation of the group financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. All estimates and assumptions are made to the best of management's knowledge and belief in order to fairly present the group's financial position and results of operations; they are reviewed on an ongoing basis. This applies in particular to the war in Ukraine, the Iran conflict, increasing trade tensions and political uncertainties; for further details see the presentation of economic conditions in the report on the economic position in the interim management report. In view of this and given the ratio of market capitalization to the thyssenkrupp group's equity, other intangible assets and property, plant and equipment of selected cash generating units were tested for impairment.

As part of the impairment test for the Steel Europe cash-generating unit in the 1st half ended March 31, 2026, the carrying amounts were confirmed. Overall, the impairment review did not result in any significant impairment losses or reversals of impairment losses in the consolidated financial statements.

01 Recently adopted accounting standards

In fiscal year 2025/2026, thyssenkrupp adopted the following amendments to an existing standard that do not have a material impact on the group's consolidated financial statements:

Amendments to IAS 21 "The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability", issued in August 2023

Condensed interim financial statements of the thyssenkrupp group | thyssenkrupp group – selected notes

02 Disposals including the thyssenkrupp Automation Engineering disposal group

Disposals in the 1st half ended March 31, 2026

In the 1st half ended March 31, 2026, in addition to completing the sale of the thyssenkrupp Automation Engineering disposal group of the 1st quarter ended December 31, 2025 (see thyssenkrupp Automation Engineering disposal group in this Note), the group made just one smaller sale in Service Units in the 2nd quarter ended March 31, 2026. These sales had the following total effect on the consolidated financial statements based on the values at the respective disposal dates:

million €	1st half ended March 31, 2026
Deferred tax assets	5
Trade accounts receivable	52
Contract assets	18
Other current financial assets	1
Other current non-financial assets	4
Current income tax assets	3
Cash and cash equivalents	40
Total assets disposed of	123
Provisions for pensions and similar obligations	9
Provisions for other non-current employee benefits	1
Deferred tax liabilities	1
Non-current financial debt	1
Other non-current financial liabilities	3
Provisions for current employee benefits	2
Other current provisions	2
Current financial debt	1
Trade accounts payable	17
Contract liabilities	31
Other current non-financial liabilities	13
Total liabilities disposed of	81
Net assets disposed of	42
Cumulative other comprehensive income	1
Non-controlling interest	0
Gain/(loss) resulting from the disposals	(15)
Selling price	28
Thereof: paid in cash and cash equivalents	28

thyssenkrupp Automation Engineering disposal group as of December 31, 2025

Automation Engineering is an internationally recognized specialist in customized machinery and product specific automation solutions. On November 21, 2025, the contracts for the sale of the core business of the Automation Engineering business unit to Agile Robots SE, a technology company headquartered in Munich, were signed. As a result, in the 1st quarter ended December 31, 2025, the disposal group met the criteria of IFRS 5 for a separate presentation. With the initial classification as a disposal group, the measurement of the assets and liabilities was reviewed in accordance with IFRS 5. This resulted in an impairment loss totaling €35 million, as the fair value less costs of disposal was lower than the carrying amount. The non-recurring measurement at fair value less costs of disposal is based on the negotiated purchase price. The impairment losses totaling €30 million were fully recognized in cost of sales in the 1st quarter ended December 31, 2025. Of this amount, €10 million related to land and buildings, €1 million to technical machinery and equipment, €2 million to other equipment, factory and office equipment, and €2 million to right-of-use assets. Additional impairment losses of

€15 million were recognized in inventories, while €5 million of the total impairment loss calculated was not recognized due to the measurement provisions of IFRS 5.

The disposal takes place in the context of the realignment of the Automotive Technology segment, which is aimed at growth and enhanced capital-market readiness. Prior to the transaction, Agile Robots, together with thyssenkrupp and IG Metall, agreed on a best-and-fair-owner arrangement. Upon receipt of the customary regulatory approvals, the transaction was completed (closing) on March 31, 2026, and thyssenkrupp Automation Engineering was deconsolidated. This resulted in a loss on disposal of €15 million.

03 Total equity

The increase in non-controlling interests, together with a corresponding decrease in retained earnings, results from the spin-off of the Marine Systems segment, which became legally effective upon its entry in the commercial register on October 17, 2025, followed by the initial listing of the marine division TKMS AG & Co. KGaA in the Prime Standard of the Frankfurt Stock Exchange on October 20, 2025. The shareholders of thyssenkrupp AG had previously approved the spin-off by a large majority at the extraordinary general meeting of thyssenkrupp AG on August 8, 2025; for every 20 shares of thyssenkrupp AG, they received one share of TKMS AG & Co. KGaA. thyssenkrupp AG remains the majority shareholder with a 51% stake and continues to fully consolidate the marine division in the consolidated financial statements, with 49% being presented as non-controlling interests in equity as of the 1st quarter ended December 31, 2025.

04 Effects of the spin-off of the Marine Systems segment on share-based compensation

For the members of the Executive Board of thyssenkrupp AG and the other participating executive employees outside the Marine Systems segment, the ongoing tranches (13th to 15th tranche) of the long-term incentive plan (LTI) are adversely affected by the fact that, from the date of the stock market listing of the TKMS limited partnership share on October 20, 2025, the shares of thyssenkrupp AG have been traded taking into account the assets transferred as part of the spin-off, and the LTI participants – unlike the shareholders of thyssenkrupp AG, who receive actual limited partnership shares in TKMS Holding – do not receive virtual limited partnership shares in TKMS Holding. To compensate for this disadvantage arising from the spin-off and to place the LTI participants in an economically equivalent position to the shareholders of thyssenkrupp AG, the number of virtual shares granted under the ongoing 13th to 15th LTI tranches was increased by applying a conversion factor of 0.3911. For the Executive Board compensation plans that provide for partial remuneration in equity instruments, this adjustment constitutes a modification in accordance with IFRS 2.47.

The conversion factor was calculated on the basis of the allocation ratio of the future TKMS limited partnership shares and the average price performance of both shares during the first 30 trading days after listing. This ensures that participants are granted an economically equivalent number of virtual thyssenkrupp AG shares. Accordingly, the number of virtual shares granted under each of the three LTI tranches mentioned above was multiplied by 1.3911 to determine the new number of virtual shares.

05 Provisions for pensions and similar obligations

Based on updated interest rates and fair value of plan assets, an updated valuation of pension obligations was performed as of March 31, 2026:

PROVISIONS FOR PENSIONS AND SIMILAR OBLIGATIONS

million €	Sept. 30, 2025	March 31, 2026
Pension obligations	5,162	4,862
Partial retirement	107	176
Other pension-related obligations	29	31
Total	5,298	5,070

As of March 31, 2026, the provisions for partial retirement include an addition of €88 million recognized in the context of partial retirement agreements concluded at thyssenkrupp Steel Europe AG under the "Neuaufstellung Stahl" program (see Note 06).

The Group applied the following weighted average assumptions to determine pension obligations:

WEIGHTED AVERAGE ASSUMPTIONS

in %	Sept. 30, 2025		March 31, 2026
	Germany	Other countries	Total	Germany	Other countries	Total
Discount rate for accrued pension obligations	3.80	2.82	3.57	4.20	2.90	3.89

06 Other provisions

The restructuring provisions included in other provisions increased by €276 million to €566 million compared with September 30, 2025. Additions in the amount of €408 million, mainly relating to the Steel Europe, Decarbon Technologies and Automotive Technology segments, were mainly by amounts utilized partially compensated.

The additions made in the 1st quarter ended December 31, 2025 in the Steel Europe segment relate to the restructuring measures resolved by thyssenkrupp Steel Europe AG as part of the "Neuaufstellung Steel" program. Based on the key points agreement from July 2025, the final restructuring collective agreement, social plan, reconciliation of interests, and numerous group works agreements were signed on December 1, 2025. The corporate measures essentially comprise adjustments within the production network and efficiency measures. The provision recognized in the 1st quarter ended December 31, 2025 on this basis, amounting to €315 million, mainly includes severance payments and benefits to employees resulting from the termination of employment relationships. It is based on a detailed restructuring plan agreed between the Executive Board and employee representatives, which was communicated to employees on December 3, 2025. In the 2nd quarter ended March 31, 2026, the restructuring provision was adjusted based on a new group works agreement enabling an additional workforce reduction instrument for employees of certain age groups. This resulted in a reversal of the provision of €16 million. In addition, €88 million relating to early retirement arrangements concluded under the "Neuaufstellung Steel" program are recognized in the provisions of partial retirement within the balance sheet item "Provisions for pensions and similar obligations" (see Note 05).

07 Financial debt

The debenture bond of USD 100 million was repaid on time on January 26, 2026.

The existing commercial paper program with a maximum issuance volume of €3.0 billion was utilized in the amount of €64 million as of March 31, 2026.

08 Contingencies and commitments

Contingencies

thyssenkrupp AG as well as, in individual cases, its subsidiaries have issued guarantees or warranties in favor of business partners or lenders. The following table shows obligations under guarantees or warranties where the principal debtor is not a consolidated group company:

million €	Maximum potential amount of future payments as of March 31, 2026	Provision as of March 31, 2026
Advance payment bonds	10	0
Performance bonds	4	0
Other guarantees	2	0
Total	16	0

The thyssenkrupp group has issued guarantees or warranties for TK Elevator GmbH and its subsidiaries in favor of their customers which amounts to €0.3 million as of March 31, 2026 (September 30, 2025: €2 million). The buyer consortium has undertaken to indemnify thyssenkrupp against expenses in connection with the guarantees and warranties until they are fully discharged. As additional security, thyssenkrupp has received guarantees in the same amount from the buyer.

The basis for possible payments under the guarantees or warranties is always the non-performance of the principal debtor under a contractual agreement, e.g. late delivery, delivery of non-conforming goods under a contract or non-performance with respect to the warranted quality.

All guarantees or warranties are issued by or issued by instruction of thyssenkrupp AG or subsidiaries upon request of the principal debtor obligated by the underlying contractual relationship and are subject to recourse provisions in case of default. If such a principal debtor is a company owned fully or partially by a foreign third party, the third party is generally requested to provide additional collateral in a corresponding amount.

Commitments and other contingencies

The group's existing purchasing commitments from energy supply contracts slightly decreased by €0.1 billion to €1.1 billion as of March 31, 2026 compared with September 30, 2025, respectively. Furthermore due to the high volatility of iron ore prices, in the Steel Europe segment the existing long-term iron ore and iron ore pellets supply contracts are measured for the entire contract period at the iron ore prices applying as of the respective balance sheet date. Compared with September 30, 2025, purchasing commitments decreased by €0.3 billion to €1.0 billion. Furthermore, in the 2nd quarter ended March 31, 2026, a multi-year steel purchase commitment agreement was concluded in the Materials Services segment; the resulting obligation amounts to a low three-digit million euro figure.

In the Steel Europe segment, there was a purchase commitment of €1,043 million as of March 31, 2026 (September 30, 2025: €1,091 million) relating to the construction of the direct reduction plant. This is covered in parts by grants from the federal government and the state of North Rhine-Westphalia. In this context, the thyssenkrupp group received no payments under government grants in the 1st half ended March 31, 2026 (€193 million in the 1st half ended March 31, 2025).

There have been no material changes to the other commitments and contingencies since the end of fiscal year 2024/2025.

09 Financial instruments

The carrying amounts of trade accounts receivable measured at amortized cost, other current receivables as well as cash and cash equivalents equal their fair values due to the short remaining terms. For money market funds and trade accounts receivable measured at fair value, the carrying amount equals the fair value.

For the preference shares in connection with the Elevator investment, which are classified as equity instruments, the option was exercised to recognize them initially at fair value in equity (without recycling). For the ordinary shares, also measured at fair value since September 30, 2025, due to their significance the option was also exercised to subsequently measure them at fair value recognized in equity (without recycling). Miscellaneous other financial assets include the loans from the elevator transaction, which are measured at amortized cost; see also Note 10. The other equity and debt instruments are in general measured at fair value income-effective, which is based to the extent available on market prices as of the balance sheet date. When no quoted market prices in an active market are available, equity and debt instruments are measured by discounting future cash flows based on current market interest rates over the remaining term of the financial instruments.

The fair value of foreign currency forward transactions is determined on the basis of the middle spot exchange rate applicable as of the interim balance sheet date, and taking account of forward premiums or discounts arising for the respective remaining contract term compared to the contracted forward exchange rate. Common methods for calculating option prices are used for foreign currency options. The fair value of an option is influenced not only by the remaining term of an option, but also by other factors, such as current amount and volatility of the underlying exchange or base rate.

Interest rate swaps and cross currency swaps are measured at fair value by discounting expected cash flows on the basis of market interest rates applicable for the remaining contract term. In the case of cross currency swaps, the exchange rates for each foreign currency, in which cash flows occur, are also included.

The fair value of commodity futures is based on published price quotations. It is measured as of the interim balance sheet date, both internally and by external financial partners.

The carrying amounts of trade accounts payable and other current liabilities equal their fair values due to the short remaining term. The fair value of fixed rate non-current liabilities equals the present value of expected cash flows. Discounting is based on interest rates applicable as of the balance sheet date. The carrying amounts of floating rate liabilities approximately correspond to their fair values.

Financial liabilities measured at amortized cost with a carrying amount of €5,004 million as of March 31, 2026 (September 30, 2025: €5,149 million) have a fair value of €5,006 million (September 30, 2025: €5,157 million) that was determined based on fair value measurement attributable to level 2.

Financial assets and liabilities measured at fair value could be categorized in the following three level fair value hierarchy:

FAIR VALUE HIERARCHY AS OF SEPT. 30, 2025

million €	Sept. 30, 2025	Level 1	Level 2	Level 3
Financial assets at fair value
Fair value recognized in profit or loss
Derivatives not qualifying for hedge accounting	51	0	51	0
Equity instruments	13	7	5	0
Fair value recognized in equity
Trade accounts receivable	769		769
Equity instruments	1,096			1,096
Debt instruments (measured at fair value)	13	13	0	0
Derivatives qualifying for hedge accounting	47	0	47	0
Total	1,988	21	871	1,096
Financial liabilities at fair value
Fair value recognized in profit or loss
Derivatives not qualifying for hedge accounting	30	0	30	0
Cash equivalents	1,318	1,318
Fair value recognized in equity
Derivatives qualifying for hedge accounting	56	0	56	0
Total	1,404	1,318	85	0

FAIR VALUE HIERARCHY AS OF MARCH 31, 2026

million €	March 31, 2026	Level 1	Level 2	Level 3
Financial assets at fair value
Fair value recognized in profit or loss
Derivatives not qualifying for hedge accounting	61	0	61	0
Equity instruments	11	8	3	0
Fair value recognized in equity
Trade accounts receivable	1,015		1,015
Equity instruments	1,115			1,115
Debt instruments (measured at fair value)	15	15	0	0
Derivatives qualifying for hedge accounting	33	0	33	0
Total	2,249	22	1,112	1,115
Financial liabilities at fair value
Fair value recognized in profit or loss
Derivatives not qualifying for hedge accounting	58	0	58	0
Cash equivalents	528	528
Fair value recognized in equity
Derivatives qualifying for hedge accounting	63	0	63	0
Total	649	528	121	0

The fair value hierarchy reflects the significance of the inputs used to determine fair values. Financial instruments with fair value measurement based on quoted prices in active markets are disclosed in level 1. In level 2 determination of fair values is based on observable inputs, e.g. foreign exchange rates. Level 3 comprises financial instruments for which the fair value measurement is based on unobservable inputs using recognized valuation models.

In the reporting quarter there were no reclassifications between level 1 and level 2.

Changes of the income non-effective equity instruments included in level 3 were as follows:

RECONCILIATION LEVEL 3 FINANCIAL INSTRUMENTS – INCOME NON-EFFECTIVE
million €
Balance as of Sept. 30, 2025	1,096
Changes income non-effective	19
Balance as of March 31, 2026	1,115

In a first step, based on TK Elevator's current planning as well as assumptions regarding perpetual annuity and applying risk-appropriate cost of capital, the total enterprise value of TK Elevator is determined using the discounted cash flow method (enterprise value). After deducting the fair values of the individual debt instruments used to finance the participation at the respective levels of the companies below Vertical Topco I S.A., the value of the financial instruments at the level of Vertical Topco I S.A. (interest-free loan, preference shares and ordinary shares) is obtained. Considering the discounted cash flows attributable to the interest-free loan and the preference shares, corresponding to their respective instrument-specific features, the fair value of the ordinary shares is determined as residual value.

The equity instruments based on individual measurement parameters and recognized at fair value in equity comprise the preference and the ordinary shares in Vertical Topco I S.A., Luxembourg, from the investment in TK Elevator. The fair value of the preference shares is determined based on a financial valuation model (discounted cash flow method), which takes account of the contractually-based expected future cash flows from the preference shares. As of March 31, 2026, a risk-adjusted discount rate of $9.52\%$ (September 30, 2025: $8.33\%$ ) was applied. For the ordinary shares of Vertical Topco I S.A., Luxembourg, also recognized as equity instruments at fair value in equity (without recycling) since September 30, 2025, the previously described model applies, considering a risk-adjusted discount rate of $9.78\%$ (September 30, 2025: $11.29\%$ ).

The effect resulting from both measurements is recognized in equity through other comprehensive income under the line item "Fair value measurement of equity instruments."

Impairments of trade accounts receivable and contract assets

The expected default rates for trade accounts receivable are mainly derived from external credit information and ratings for each counterparty, which allows more accurate calculation of the probability of default compared with the formation of rating classes. The customer risk numbers assigned by trade credit insurers and the creditworthiness information provided by credit agencies are translated into an individual probability of default per customer using a central allocation system. This individual probability of default per customer is used uniformly throughout the thyssenkrupp group. The information is updated quarterly. If no rating information is available at

counterparty level, an assessment is made based on the average probability of default for each segment plus an appropriate risk premium. For the group financial statements as of March 31, 2026, the latest external credit information and ratings were used.

The defaults refer in particular to insolvency cases that could not be derived from the rating information in the prior year.

10 Segment reporting

Segment reporting follows thyssenkrupp's internal control concept.

As of the start of fiscal year 2025/2026, the Automotive Technology segment is allocated functions and expenses for the regional platforms in China, North America and South America which, in the previous year, were allocated to Corporate Headquarters in the context of segment reporting. Due to the lack of material impact, the corresponding prior-year figures were also not adjusted.

Segment information for the 1st half ended March 31, 2025 and 2026 and for the 2nd quarter ended March 31, 2025 and 2026, respectively is as follows:

million €	Automotive Technology	Decarbon Technologies	Materials Services	Steel Europe	Marine Systems	Corporate Headquarters	Reconciliation	Group
1st half ended March 31, 2025
External sales	3,471	1,784	5,674	4,362	1,101	0	18	16,410
Internal sales within the group	0	7	105	455	0	3	(570)	0
Sales	3,471	1,791	5,779	4,817	1,101	3	(553)	16,410
EBIT	7	25	28	315	63	(107)	(40)	291
Adjusted EBIT	36	34	37	146	62	(99)	(5)	210
1st half ended March 31, 2026
External sales	3,327	1,413	5,639	3,993	1,168	0	25	15,566
Internal sales within the group	0	10	113	460	(1)	0	(582)	0
Sales	3,327	1,423	5,753	4,453	1,167	0	(557)	15,566
EBIT	(12)	(76)	83	(104)	52	(99)	(18)	(174)
Adjusted EBIT	60	(17)	96	300	60	(79)	(13)	409
2nd quarter ended March 31, 2025
External sales	1,801	879	2,983	2,369	532	0	14	8,579
Internal sales within the group	1	5	59	270	1	1	(338)	0
Sales	1,802	884	3,043	2,639	533	1	(324)	8,579
EBIT	28	12	20	169	31	(55)	(18)	188
Adjusted EBIT	24	16	29	(23)	31	(57)	(2)	19
2nd quarter ended March 31, 2026
External sales	1,702	680	3,135	2,220	623	0	20	8,380
Internal sales within the group	(1)	5	57	269	(1)	0	(330)	0
Sales	1,702	685	3,192	2,489	622	0	(310)	8,380
EBIT	1	(60)	67	83	25	(43)	(8)	65
Adjusted EBIT	41	(1)	81	84	34	(35)	(6)	198

Compared with September 30, 2025, as of March 31, 2026 average capital employed decreased by €236 million to €3,003 million at Automotive Technology and by €53 million to €155 million at Marine Systems, while it increased by €46 million to €951 million at Decarbon Technologies. The development of capital employed as of the reporting date may differ from the development of average capital employed.

The column "Reconciliation" breaks down as following:

BREAKDOWN RECONCILIATION

million €	Service Units	Special Units	Consolidation	Reconciliation
1st half ended March 31, 2025
External sales	10	3	5	18
Internal sales within the group	125	12	(708)	(570)
Sales	135	15	(703)	(553)
EBIT	8	(51)	3	(40)
Adjusted EBIT	8	(16)	3	(5)
1st half ended March 31, 2026
External sales	6	3	17	25
Internal sales within the group	118	12	(712)	(582)
Sales	124	15	(695)	(557)
EBIT	(8)	(8)	(1)	(18)
Adjusted EBIT	(3)	(9)	(1)	(13)
2nd quarter ended March 31, 2025
External sales	6	1	7	14
Internal sales within the group	65	6	(409)	(338)
Sales	70	8	(402)	(324)
EBIT	2	(24)	4	(18)
Adjusted EBIT	1	(8)	4	(2)
2nd quarter ended March 31, 2026
External sales	3	2	15	20
Internal sales within the group	64	6	(400)	(330)
Sales	67	8	(385)	(310)
EBIT	(3)	(3)	(2)	(8)
Adjusted EBIT	(1)	(3)	(2)	(6)

EBIT of Special Units includes an impairment loss of €36 million in the 1st half ended March 31, 2025 and of €16 million in the 2nd quarter ended March 31, 2025, recognized on assets used jointly in the thyssenkrupp group (corporate assets). This impairment loss is treated as a special item and therefore is not included in adjusted EBIT.

thyssenkrupp’s investment in TK Elevator comprises several financing instruments which are accounted for as follows:

Ordinary shares (with voting rights) in Vertical Topco I S.A., Luxembourg. Due to the existence of significant influence until September 29, 2025, the ordinary shares were treated and reported as an investment accounted for using the equity method in accordance with the requirements of IAS 28. Amortization of the acquisition cost was recognized in financial income from companies accounted for using the equity method in the statement of income. As of September 29, 2025, the transition from equity method accounting to fair value measurement in accordance with IFRS 9 took place. From September 30, 2025, onward, ordinary shares are treated as equity instruments under the provision of IAS 32 resp. IFRS 9 and reported under non-current other financial assets. The initial measurement as well as the subsequent measurements are carried out at fair value, with the initial measurement as of September 29, 2025, recognized income-effective within the financial result under income from investments and changes in fair value from September 30, 2025, onward recognized in equity in other comprehensive income (without recycling). As of March 31, 2026, fair value amounts to €1,021 million.
Preference shares (with voting rights) in Vertical Topco I S.A., Luxembourg. The preference shares are treated as an equity instrument in accordance with IAS 32 and IFRS 9 and reported under other non-current financial assets. Subsequent measurement is at fair value, with changes in fair value recognized directly in equity in other comprehensive income (without recycling). As of March 31, 2026, fair value amounts to €94 million.
Interest-free loans (borrower: Vertical Topco I S.A., Luxembourg). The interest-free loans are treated as debt instruments in accordance with IAS 32 and IFRS 9 and likewise reported under other non-current financial assets. They are measured at amortized cost, with income effects from subsequent measurement recognized in finance income/(expense), net under financial income and finance expense, respectively in the statement of income. As of March 31, 2026, fair value amounts to €1,050 million.

The reconciliation of the earnings figure adjusted EBIT to income/(loss) before tax as presented in the statement of income is presented below:

RECONCILIATION ADJUSTED EBIT TO INCOME/(LOSS) BEFORE TAX
million €	1st half ended March 31, 2025	1st half ended March 31, 2026	2nd quarter ended March 31, 2025	2nd quarter ended March 31, 2026
Adjusted EBIT as presented in segment reporting	210	409	19	198
Special items	81	(583)	170	(133)
EBIT as presented in segment reporting	291	(174)	188	65
+ Non-operating income/(expense) from companies accounted for using the equity method	7	0	73	0
+ Finance income	428	320	170	187
– Finance expense	(440)	(346)	(162)	(198)
– Items of finance income assigned to EBIT based on economic classification	(2)	(3)	(1)	(2)
+ Items of finance expense assigned to EBIT based on economic classification	4	5	(1)	1
Income/(loss) group (before tax)	288	(199)	267	55

In the 1st half ended March 31, 2026, the special items mainly comprise restructuring expenses in the Steel Europe, Decarbon Technologies and Automotive Technology segments (see Note 06), expenses in the Automotive Technology segment related to the sale of the core business of Automation Engineering (€45 million) (see Note 02), as well as expenses from the valuation of $\mathrm{CO}_{2}$ forward contracts in the Steel Europe segment (€18 million).

In the 1st half ended March 31, 2025, the special items mainly comprised income from the sale of thyssenkrupp Electrical Steel India and from the measurement of $\mathrm{CO}_{2}$ forward contracts as well as impairment losses in the Steel Europe segment. Special items also include restructuring expenses in the Automotive Technology and Decarbon Technologies segments.

11 Sales

Sales and sales from contracts with customers are presented below:

SALES

million €	Automotive Technology	Decarbon Technologies	Materials Services	Steel Europe	Marine Systems	Corporate Headquarters	Reconciliation	Group
1st half ended March 31, 2025
Sales from sale of finished products	2,624	520	835	4,471	26	0	(439)	8,037
Sales from sale of merchandise	314	102	4,511	60	11	0	(34)	4,965
Sales from rendering of services	117	129	403	73	32	3	(69)	688
Sales from construction contracts	340	1,019	13	0	1,022	0	(13)	2,380
Other sales from contracts with customers	81	20	1	214	3	0	(5)	313
Subtotal sales from contracts with customers	3,475	1,790	5,763	4,818	1,094	3	(560)	16,382
Other sales	(5)	2	16	(1)	8	0	7	27
Total	3,471	1,791	5,779	4,817	1,101	3	(553)	16,410
1st half ended March 31, 2026
Sales from sale of finished products	2,639	537	832	4,138	77	0	(444)	7,778
Sales from sale of merchandise	189	75	4,486	51	11	0	(33)	4,778
Sales from rendering of services	100	139	398	72	45	0	(81)	673
Sales from construction contracts	313	654	7	0	1,035	0	(7)	2,003
Other sales from contracts with customers	88	19	0	189	0	0	(5)	291
Subtotal sales from contracts with customers	3,329	1,424	5,722	4,450	1,168	0	(569)	15,523
Other sales	(1)	(1)	30	3	(1)	0	13	43
Total	3,327	1,423	5,753	4,453	1,167	0	(557)	15,566
2nd quarter ended March 31, 2025
Sales from sale of finished products	1,365	265	451	2,439	13	0	(246)	4,287
Sales from sale of merchandise	169	53	2,408	41	7	0	(17)	2,662
Sales from rendering of services	56	67	209	38	11	1	(34)	349
Sales from construction contracts	167	489	7	0	495	0	(3)	1,156
Other sales from contracts with customers	43	8	0	112	1	0	(2)	161
Subtotal sales from contracts with customers	1,801	882	3,075	2,630	527	1	(302)	8,614
Other sales	1	2	(32)	9	6	0	(22)	(36)
Total	1,802	884	3,043	2,639	533	1	(324)	8,579
2nd quarter ended March 31, 2026
Sales from sale of finished products	1,404	284	461	2,324	45	0	(259)	4,259
Sales from sale of merchandise	48	44	2,472	27	6	0	(20)	2,577
Sales from rendering of services	50	81	195	40	23	0	(40)	349
Sales from construction contracts	154	267	4	0	550	0	(3)	972
Other sales from contracts with customers	46	11	0	97	0	0	(3)	151
Subtotal sales from contracts with customers	1,703	687	3,132	2,488	624	0	(325)	8,308
Other sales	(1)	(1)	60	1	(1)	0	15	72
Total	1,702	685	3,192	2,489	622	0	(310)	8,380

SALES FROM CONTRACTS WITH CUSTOMERS BY CUSTOMER GROUP

SALES FROM CONTRACTS WITH CUSTOMERS BY REGION

(1) Germany, Austria, Switzerland, Liechtenstein

Of the sales from contracts with customers €2,075 million (prior year: €3,269 million) results in the 1st half ended March 31, 2026 and €892 million (prior year: €1,167 million) in the 2nd quarter ended March 31, 2026 from long-term contracts, while €13,448 million (prior year: €13,113 million) results in the 1st half ended March 31, 2026 and €7,416 million (prior year: €7,447 million) in the 2nd quarter ended March 31, 2026 from short-term contracts. €2,351 million (prior year: €3,697 million) relates in the 1st half ended March 31, 2026 and €1,141 million (prior year: €1,462 million) in the 2nd quarter ended March 31, 2026 to sales recognized over time, and €13,173 million (prior year: €12,686 million) relates in the 1st half ended March 31, 2026 and €7,167 million (prior year: €7,152 million) in the 2nd quarter ended March 31, 2026 to sales recognized at a point in time.

12 Other income

Other income includes income from electricity price compensation and further income from premiums and from grants.

13 Financial income/(expense), net

Following the transition from equity accounting to measurement at fair value through equity in other comprehensive income (without recycling) for the ordinary shares in Vertical Topco I S.A. as part of the Elevator investment effective September 29, 2025, financial income/(expense), net includes in the line item “Income from investments accounted for using the equity method” includes only income of €7 million in the 1st half ended March 31, 2025 and of €73 million in the 2nd quarter ended March 31, 2025, respectively, from the ordinary shares (see Note 10).

14 Earnings per share

Basic earnings per share are calculated as follows:

EARNINGS PER SHARE (EPS)

	1st half ended March 31, 2025		1st half ended March 31, 2026		2nd quarter ended March 31, 2025		2nd quarter ended March 31, 2026
	Total amount in million €	Earnings per share in €	Total amount in million €	Earnings per share in €	Total amount in million €	Earnings per share in €	Total amount in million €	Earnings per share in €
Net income/(loss) (attributable to thyssenkrupp AG's shareholders)	104	0.17	(352)	(0.57)	155	0.25	1	0.00
Weighted average shares	622,531,741		622,531,741		622,531,741		622,531,741

There were no dilutive securities in the periods presented.

15 Additional information to the statement of cash flows

The liquid funds considered in the statement of cash flows can be derived from the balance sheet position “Cash and cash equivalents” as following:

million €	March 31, 2025	Sept. 30, 2025	March 31, 2026
Cash	1,810	2,649	2,289
Cash equivalents	3,017	3,076	1,260
thereof restricted	840	546	218
Cash and cash equivalents according to the balance sheet	4,828	5,725	3,549
Liquid funds according to statement of cash flows	4,828	5,725	3,549

As of March 31, 2026 cash and cash equivalents of €80 million (March 31, 2025: €69 million; September 30, 2025: €76 million) result from the joint operation HKM.

16 Subsequent event

On April 29, 2026, it was announced that Kone and a consortium consisting of Advent and Cinven had reached an agreement on the sale of the interest in TK Elevator to Kone. Closing of the transaction is expected by the acquirer within 12 to 18 months and is subject, among other things, to approvals from various competition authorities. thyssenkrupp continues to hold an indirect interest of 16.2% in TK Elevator. The impact on the Group’s financial position and results of operations will depend on further progress in completing the Kone transaction. The relevant details are currently not available to thyssenkrupp AG. Based on the current ownership structure and taking into account the valuation implied by the agreement between Advent/Cinven and Kone, the fair value of the common shares would be approximately €1 billion higher than the fair value as of March 31, 2026 (€1.0 billion); accordingly, we expect a corresponding positive effect on the Group’s assets in the short term.

Essen, May 8, 2026

thyssenkrupp AG

The Executive Board

López

Dinstuhl

Hamann

Henne

von Rath

Review report

To thyssenkrupp AG, Duisburg and Essen

We have reviewed the condensed interim consolidated financial statements of thyssenkrupp AG, Duisburg and Essen – comprising the consolidated statement of financial position, the consolidated statement of income and the consolidated statement of comprehensive income, the consolidated statement of changes in equity, the consolidated statement of cash flows and selected notes – together with the interim group management report of thyssenkrupp AG, for the period from October 1, 2025 to March 31, 2026 that are part of the half-year financial report according to § 115 WpHG ["Wertpapierhandelsgesetz": "German Securities Trading Act"]. The preparation of the condensed interim consolidated financial statements in accordance with International Accounting Standard IAS 34 "Interim Financial Reporting" as adopted by the EU, and of the interim group management report in accordance with the requirements of the WpHG applicable to interim group management reports, is the responsibility of the Company's management. Our responsibility is to issue a report on the condensed interim consolidated financial statements and on the interim group management report based on our review.

We performed our review of the condensed interim consolidated financial statements and the interim group management report in accordance with the German generally accepted standards for the review of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). Those standards require that we plan and perform the review so that we can preclude through critical evaluation, with a certain level of assurance, that the condensed interim consolidated financial statements have not been prepared, in material respects, in accordance with IAS 34, "Interim Financial Reporting" as adopted by the EU, and that the interim group management report has not been prepared, in material respects, in accordance with the requirements of the WpHG applicable to interim group management reports. A review is limited primarily to inquiries of company employees and analytical assessments and therefore does not provide the assurance attainable in a financial statement audit. Since, in accordance with our engagement, we have not performed a financial statement audit, we cannot issue an auditor's report.

Based on our review, no matters have come to our attention that cause us to presume that the condensed interim consolidated financial statements have not been prepared, in material respects, in accordance with IAS 34, "Interim Financial Reporting" as adopted by the EU, or that the interim group management report has not been prepared, in material respects, in accordance with the requirements of the WpHG applicable to interim group management reports.

Düsseldorf, May 11, 2026

KPMG AG
Wirtschaftsprüfungsgesellschaft

Dr. Markus Zeimes
Wirtschaftsprüfer

[German Public Auditor]

René Kadlubowski
Wirtschaftsprüfer

[German Public Auditor]

Responsibility statement

To the best of our knowledge, and in accordance with the applicable reporting principles for half-year reporting, the condensed interim consolidated financial statements give a true and fair view of assets, liabilities, financial position and profit and loss of the group, and the group interim management report includes a fair view of the development and performance of the business and the position of the group, together with a description of the principal opportunities and risks associated with the expected development of the group in the remaining months of the year.

Essen, May 8, 2026

thyssenkrupp AG

The Executive Board

López

Dinstuhl

Hamann

Henne

von Rath

Additional information | Contact and 2026/2027 financial calendar

Additional information

Contact and 2026 / 2027 financial calendar

For more information please contact: 2026/2026 financial calendar

Communications

Phone: +49 201 844536043

Fax: +49 201 844536041

Email: [email protected]

Investor Relations

Email: [email protected]

Institutional investors and analysts

Phone: +49 201 844536464

Fax: +49 201 8456531000

Private investors

Phone: +49 201 844536367

Fax: +49 201 8456531000

Published by

thyssenkrupp Allee 1, 45143 Essen, Germany

Postfach, 45063 Essen, Germany

Phone: +49 201 8440

Fax: +49 201 844536000

Email: [email protected]

www.thyssenkrupp.com

August 13, 2026

Interim report 9 months 2025/2026 (October to June)

December 8, 2026

Annual report 2025/2026 (October to September)

February 5, 2027

Annual General Meeting

February 11, 2027

Interim report 1st quarter 2026/2027 (October to December)

May 13, 2027

Interim report 1st half 2026/2027 (October to March)

This interim report was published on May 12, 2026.

Produced in-house using firesys.

Forward-looking statements

This document contains forward-looking statements that reflect management's current views with respect to future events. Such statements are subject to risks and uncertainties that are beyond thyssenkrupp's ability to control or estimate precisely, such as the future market environment and economic conditions, the behavior of other market participants, the ability to successfully integrate acquired businesses and achieve anticipated synergies and the actions of government regulators. Therefore, the actual results may differ materially from the results explicitly presented or implicitly contained in this financial report. The forward-looking statements contained in this financial report will not be updated in the light of events or developments occurring after the date of the report.

Rounding differences and rates of change

Percentages and figures in this report may include rounding differences. The signs used to indicate rates of change are based on economic aspects: Improvements are indicated by a plus (+) sign, deteriorations are shown in brackets ( ). Very high positive and negative rates of change (≥100% or ≤(100)% are indicated by ++ and -- respectively.

Variances for technical reasons

Due to statutory disclosure requirements the Company must submit this financial report electronically to the Federal Gazette (Bundesanzeiger). For technical reasons there may be variances in the accounting documents published in the Federal Gazette. German and English versions of the financial report can be downloaded from the internet at www.thyssenkrupp.com. In the event of variances, the German version shall take precedence over the English translation.

AI assistant

thyssenkrupp AG — Interim / Quarterly Report 2026

435_ir_2026-05-12_f7d47a1c-d6a0-4b53-a608-339792729858.pdf

Interim report

thyssenkrupp in figures

Contents

thyssenkrupp stock

The stock's performance in the 1st half 2025/2026

Capital market

Shareholders

Annual General Meeting

Investor Relations

Stock market listing of Marine Systems (TKMS)

Interim management report

Preliminary remarks

Strategy

Report on the economic position

Summary

Full-year forecast

Macro and sector environment

Geopolitical crises delay recovery – global economic growth impacted by wars and protectionism

Results of operations and financial position of the group

Analysis of the results of operations of the group

Net sales

Earnings

Special items

Financial income/(expense)

Income tax (expense)/income

Net income/(loss)

Analysis of the financial position of the group

Analysis of the cash flows of the group

Operating cash flows

Cash flows from investing activities

Cash flows from financing activities

Analysis of the assets of the group

Total non-current assets

Total equity

Total non-current liabilities

Total current liabilities

Segment review

Automotive Technology

Order intake and sales

Adjusted EBIT

Material special items

Investments

Decarbon Technologies

Order intake and sales

Adjusted EBIT

Material special items

Investments

Materials Services

MATERIALS SERVICES IN FIGURES

Steel Europe

STEEL EUROPE IN FIGURES

Marine Systems

MARINE SYSTEMS IN FIGURES

Corporate Headquarters

Performance in the 2nd quarter

Special items

Compliance

Employees

Changes on the Supervisory Board and Executive Board

Technology and innovations

Technology for the production of biomethanol

Electrolyzers for a green hydrogen project in Southern Europe

CO₂-reduced steel for the series production of vehicles

Events after the reporting date

Forecast, opportunity and risk report

2025/2026 forecast

Opportunities and risks

Opportunities

Risks

Condensed interim financial statements of the thyssenkrupp group

thyssenkrupp group – statement of financial position

thyssenkrupp group – statement of income

thyssenkrupp group – statement of comprehensive income

thyssenkrupp group – statement of changes in equity

thyssenkrupp group – statement of cash flows

thyssenkrupp group – selected notes

Corporate information

thyssenkrupp AG Interim / Quarterly Report 2026