Changes in the Executive Board of Swiss Steel Group

Swiss Steel Holding AG / Key word(s): Miscellaneous
Changes in the Executive Board of Swiss Steel Group

24-Jun-2024 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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Lucerne, 24 June 2024 - Following the successful completion of the
recapitalization and refinancing, two important personnel changes are now
taking place at Swiss Steel Group.

Marco Portmann has decided to leave Swiss Steel Group after more than 19
years for personal reasons. He was appointed to the Executive Board as Chief
Financial Officer (CFO) in April 2022. Marco Portmann: "After a long,
enriching and recently extremely intense time as CFO, I am now looking
forward to taking professional steps outside the Group. I would like to
thank my colleagues and especially CEO Frank Koch for the close and trustful
collaboration under most difficult conditions."

The Board of Directors of Swiss Steel Holding AG has appointed Thomas Löhr
as the new CFO and member of the Executive Board of Swiss Steel Group as of
June 24, 2024. Thomas Löhr has been CFO and Spokesman of the Management
Board of the Swiss Steel Group subsidiary Deutsche Edelstahlwerke Services
GmbH since November 2023. The relevant bodies will decide on his successor
as CFO of Deutsche Edelstahlwerke Services GmbH shortly.

Thomas Löhr has over 35 years of professional experience in the areas of
finance, controlling, M&A, accounting, purchasing and IT, including 21 years
in an owner-managed company in the German steel industry. During his 12
years there as CFO and member of the management board, he was responsible
for several transformation programs and successfully implemented the
resulting realignments. Thomas Löhr holds a degree in banking business
administration.

Jens Alder, Chairman of the Board of Directors of Swiss Steel Group: "On
behalf of the Board of Directors, I would like to thank Marco Portmann for
his many years of service and tireless commitment. He made a significant
contribution to the successful implementation of the capital increase and
the refinancing of Swiss Steel Group. We wish him all the best and every
success for the future. In Thomas Löhr, we have been able to recruit a very
experienced CFO for this key function. He was unanimously elected by the
Board of Directors. Thanks to his extensive knowledge of the company, he
will quickly and efficiently familiarize himself with his new role at Group
level, which will ensure a smooth transition."

Next step in the implementation of the SSG 2025 strategy program: an
integrated sales organization for all three Divisions

Swiss Steel Group is Europe's leading supplier of sustainably produced
steels ("Green Steel") and is one of the most important producers in the
European circular economy. Green steel is already being used in a wide range
of industries and is making a significant contribution to the long-term
decarbonization of entire sectors. Swiss Steel Group expects demand for
green steel to rise in the long term due to the constantly increasing
climate protection requirements for manufacturing companies. Swiss Steel
Group is realigning its sales organization in order to consistently and
fully exploit these market opportunities worldwide. A central component of
this realignment is the bundling of the global sales network and the sales
activities of the production entities under a single management. Following
the successful completion of the recapitalization and refinancing, now is
the right time to lay the foundations for future growth with a powerful
sales organization.

From July 1, 2024, Swiss Steel Group's sales will be managed by Chief Sales
Officer (CSO) Patrick Lamarque d'Arrouzat, currently Chief Commercial
Officer (CCO) for the Stainless Steel and Tool Steel Divisions of Swiss
Steel Group. He will remain a member of the Executive Board.

Dr. Florian Geiger, CCO for quality and engineering steels, has decided to
take on new challenges and is leaving the company after more than ten years.
Dr. Florian Geiger has been a member of the Executive Board since January
2022 and responsible for the results of the Engineering Steel Division.
Previously, he was CEO of the Steeltec Business Unit and Vice President of
Corporate Business Development. Dr. Florian Geiger: "After successfully
building up the Engineering Steel Division, the time is right for me to
leave the company. I would like to thank all my colleagues for the excellent
cooperation and wish Swiss Steel Group all the best and every success in the
further implementation of the strategy program."

Frank Koch, CEO Swiss Steel Group: "I would like to thank Dr. Florian Geiger
for his valuable work and support over the past years. He has played a key
role in successfully implementing the divisional structure within the Group
and developing a market- and customer-oriented strategy for the Engineering
Steel Division. I wish him continued success in his future career. The
realignment of our sales organization is a decisive step towards fully
expanding Swiss Steel Group's market opportunities. The further development
of our sales organization will enable us to respond even more specifically
to the needs of our customers worldwide and further expand our leading
position in sustainable steel production. I am delighted that Patrick
Lamarque d'Arrouzat and his team will continue to drive forward our sales
strategy. Its implementation will be crucial for our future growth."

The new Executive Board of Swiss Steel Group under CEO Frank Koch will
consist of Thomas Löhr, Chief Financial Officer (CFO), and Patrick Lamarque
d'Arrouzat, Chief Sales Officer (CSO), from July 1, 2024.

For further information:

For media queries:
Anina Berger, anina.berger@swisssteelgroup.com, +41 41 581 4121

For analyst/investor inquiries:
Burkhard Wagner, burkhard.wagner@swisssteelgroup.com, +41 41 581 4180


Media Release (PDF)

About Swiss Steel Group

Swiss Steel Group with headquarters in Lucerne (Switzerland) is one of the
world's leading producers of special steel long products. Thanks to the
exclusive use of steel scrap in electric arc furnaces, the Group is one of
the most relevant companies in Europe in the circular economy and is among
the market leaders in the field of sustainably produced steel - Green Steel.
Swiss Steel Group has its own production and distribution entities in over
30 countries and, through its strong local presence, offers a wide range of
individual solutions in the fields of engineering steel, stainless steel,
and tool steel. Swiss Steel Group is listed on the SIX Swiss Exchange and
generated a revenue of around EUR 3.2 billion in 2023 with approximately
8,800 employees.

Forward-looking statements

This document is not an offer to sell or a solicitation of offers to
purchase or subscribe for shares. This document is not a prospectus within
the meaning of the Swiss Financial Services Act and not a prospectus under
any other applicable laws. Copies of this document may not be sent to,
distributed in or sent from jurisdictions in which this is barred or
prohibited by law. The information contained herein shall not constitute an
offer to sell or the solicitation of an offer to buy any securities, in any
jurisdiction in which such offer or solicitation would be unlawful prior to
registration, exemption from registration or qualification under the
securities laws of any jurisdiction. The offer and listing of any securities
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to be approved by the competent review body and published.

This document constitutes advertising in accordance with article 68 of the
Swiss Financial Services Act. Such advertisements are communications to
investors aiming to draw their attention to financial instruments. Any
investment decisions with respect to any securities should not be made based
on this advertisement.

A decision to invest in securities of Swiss Steel Holding AG should be based
exclusively on the prospectus published by Swiss Steel Holding AG (the
"Company")
for such purpose. Copies of such prospectus (and any supplements thereto)
are available free of charge from UBS AG (email: swiss-prospectus@ubs.com).
In addition, copies of such issue and listing prospectus (and any
supplements thereto) are available free of charge in Switzerland from Swiss
Steel Holding AG, Landenbergstrasse 11, 6005 Lucerne, Switzerland (email:
ir@swisssteelgroup.com).

This document is not for publication or distribution in the United States of
America (including its territories and possessions, any State of the United
States and the District of Columbia), Canada, Japan or Australia or any
other jurisdiction into which the same would be unlawful. This document does
not constitute an offer or invitation to subscribe for or purchase any
securities in such countries or in any other jurisdiction into which the
same would be unlawful. In particular, the document and the information
contained herein should not be distributed or otherwise transmitted into the
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been and will not be registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), or the laws of any state and may not be
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an exemption from registration under the Securities Act. There will be no
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The information contained herein does not constitute an offer of securities
to the public in the United Kingdom. No prospectus offering securities to
the public will be published in the United Kingdom. In the United Kingdom
this document is only directed at persons who (i) are qualified investors
and who are also (ii) investment professionals falling within article 19(5)
of the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "FSMA Order"); (iii) persons falling within Articles 49(2)(a) to
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investment activity within the meaning of Section 21 of the Financial
Services and Markets Act 2000 may otherwise be lawfully communicated or
caused to be communicated (all such persons together being referred to as
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such securities will be engaged in only with, relevant persons. Any person
who is not a relevant person should not act or rely on this document or any
of its contents.

In any member state of the European Economic Area (each a "Relevant State")
this document is only addressed to qualified investors in that Relevant
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This publication may contain specific forward-looking statements, e.g.
statements including terms like "believe", "assume", "expect", "forecast",
"project", "may", "could", "might", "will" or similar expressions. Such
forward-looking statements are subject to known and unknown risks,
uncertainties and other factors which may result in a substantial divergence
between the actual results, financial situation, development or performance
of Swiss Steel Holding AG and those explicitly or implicitly presumed in
these statements. Against the background of these uncertainties, readers
should not rely on forward-looking statements. Swiss Steel Holding AG
assumes no responsibility to up-date forward-looking statements or to adapt
them to future events or developments.

Except as required by applicable law, Swiss Steel Holding AG has no
intention or obligation to update, keep updated or revise this publication
or any parts thereof (including any forward-looking statement) following the
date hereof.

Neither the manager nor any of its subsidiary undertakings, affiliates or
any of their respective directors, officers, employees, advisers, agents,
alliance partners or any other entity or person accepts any responsibility
or liability whatsoever for, or makes any representation, warranty or
undertaking, express or implied, as to the truth, accuracy, completeness or
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Accordingly, the manager and the other foregoing persons disclaim, to the
fullest extent permitted by applicable law, all and any liability, whether
arising in tort or contract or that they might otherwise be found to have in
respect of this announcement and/or any such statement.


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End of Inside Information

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   Language:       English
   Company:        Swiss Steel Holding AG
                   Landenbergstrasse 11
                   6005 Luzern
                   Switzerland
   Phone:          +41 41 581 41 23
   E-mail:         a.beeler@swisssteelgroup.com
   Internet:       www.swisssteel-group.com
   ISIN:           CH0005795668
   Listed:         SIX Swiss Exchange
   EQS News ID:    1931045

End of Announcement EQS News Service
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1931045 24-Jun-2024 CET/CEST