First Half First Half 2010 2010 Financial Results Financial Results

PresentationPresentation26 26 August August 20102010

Disclaimer

ezzsteel ( formerly: Al Ezz Steel Rebars S.A.E. ) or “ESR” give notice that:

The particulars of this presentation do not constitute any part of an offer or a contract.

The information contained in this presentation may contain certain projections and forward-looking statements that

reflect the company’s current views with respect to future events and financial performance. These views are based on

current assumptions which are subject to various risks and which may change over time. No assurance can be given that

future events will occur, that projections will be achieved, or that the company’s assumptions are correct. Actual results

may differ materially from those projected

2

None of the statements contained in this presentation is to be relied upon as a statement or representation of fact.

All parties must satisfy themselves as to the correctness of each of the statements contained in this presentation.

ezzsteel do not make or give, and neither it’s subsidiaries nor any of their directors or officers or persons in their

employment or advisors has any authority to make or give, any representation or warranty whatsoever in relation to

this presentation.

This presentation may not be stored, copied, distributed, transmitted, retransmitted or reproduced, in whole or in part,

in any form or medium without the permission of ezzsteel.

2

Key HighlightsGlobal steel demand has started to show signs of recovery

Improved financial performance in H1 2010

Revenues have increased 17% year-on-year

Net profit at EGP 241mn; up 150% on H1 2009

3

Our flat steel facility, EFS, returned to production at the start of Q2 2010

We have installed additional flexibility during the stoppage at this site

Operational flexibility and modern technology have enabled us to quickly adapt to

market volatility

3

Steel Market OverviewWorld Crude Steel Production

Ton

ne

s

116

120 119 88 113

120

124 114

98

213

226

242

256

270 270

245

1,000

1,200

1,400

848 851904

970

1,071

1,144

1,247

1,346 1,326

1,220

44

Source: World Steel Association

Mil

lio

nTo

nn

es

129 152 182 222 283 353 416 489 500 568 267 323

193 187 188

193

202

196

207

210 198 139

62

90 135 120

123 126

134

128

132

133 125 82

35

57

106 103 108

111

113

112

116 88

37

55

98 100 101

106

113

113

44

53

186 189 202

213

107

128

-

200

400

600

800

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 H1 2009 H1 2010

China EU 27 NAFTA Japan CIS Other Countries

552

706

Overview of Domestic Steel Market Egypt Consumption

1,584 1,487 1,384 1,725 1,871 2,028

2,406

4,210

3,097 3,396

279 275 345 377 520 532 574 553 572 534

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

‘00

0 T

on

ne

s

55 Source: World Steel Association.

2008 Finished Steel Consumption Per Capita

-

H1 2002 H1 2003 H1 2004 H1 2005 H1 2006 H1 2007 H1 2008 H1 2009 H2 2009 H1 2010

Long Flat

Source: Company estimates.

85 124 125 151

216 250

281 316

441 502

597

-

100

200

300

400

500

600

700

Egypt Brazil South

Africa

Ukraine Iran Russia Turkey U.S. Spain Germany Japan

(Kg

)

Domestic Market Leader…

H1 10 Long Product Market Share Breakdown H1 10 Flat Product Market Share Breakdown

ezzsteel 45%

Beshay 10%

Al Garhi 14%

ezzsteel

43%

EISCO

14%

66

Estimated local market size of 3,396 thousand tonnes Estimated local market size of 534 thousand tonnesSource: Company estimates Source: Company estimates

Imports 16%

Bourieni 3%

Marakby 1%

Others 10%

Imports

43%

Revenue

H1 2010 Key Highlights Production

2,157

2,447

2,000

2,100

2,200

2,300

2,400

2,500

'00

0 T

on

ne

s

6,420

7,506

5,500

6,000

6,500

7,000

7,500

8,000

EG

P M

illi

on

s

7

EBITDA Net Income

7

H1 2009 H1 2010 H1 2009 H1 2010

96

241

0

50

100

150

200

250

H1 2009 H1 2010

EG

P M

illi

on

s845

1,206

0

200

400

600

800

1,000

1,200

1,400

H1 2009 H1 2010

EG

P M

illi

on

s

H1 2010 Production

953

470

735

927

489

799

600

800

1,000

88

470 489

231

0

200

400

EZDK Long EZDK Flat ezzsteel Long EFS Flat

H1 2009 H1 2010

H1 2010 Sales Breakdown

By Product By MarketBy product in EGP million By market in EGP million

Flat 2,284

31%

Export

1,452

19%

9

ezzsteel continues to generate the largest portion of its revenues in its growing domestic

market, where we enjoy a leading position

9

Long 5,138

69%

Domestic

6,054

81%

H1 2010 Revenues

Consolidated revenues

EGP Mn ESR/ERM EZDK EFSEzzsteel

Consolidated

Long 2,404 2,734 - 5,138

10

Flat - 1,620 665 2,284

Others - 79 5 84

Total 2,404 4,433 670 7,506

Standalone

Revenues2,728 4,372 681

10

H1 2010 Cost Breakdown

EGP Million ESR/ERM EZDK EFSezzsteel

Consolidated

Sales 2,728 4,372 681 7,506

COGS 2,605 3,365 737 6,412

COGS/Sales 95% 77% 108% 85%

1111

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ESR/ERM EZDK EFS Ezz Steel Consolidated

Depreciation & Overheads

Labour

Energy

Raw Materials

H1 2010 ProfitabilityOperational profits EBITDA breakdown by division

741845

10941206

0

500

1000

1500

EG

P M

illi

on

s

761

207

-129

845

1,073

1076

1,206

-150

350

850

1,350

EG

P M

illi

on

s

1212

Gross Profit EBITDA

H1 2009 H1 2010

-150EZDK ESR/ERM EFS Consolidated

H1 2009 H1 2010

Profitability per tonne

353402

498549

0

200

400

600

Gross Profit EBITDA

EG

P

H1 2009 H1 2010

480538515

559

0

200

400

600

Gross Profit EBITDA

EG

P

Q1 2010 Q2 2010

7.0 7.03.0 3.0

10.0 10.0

Commitment to Growth Strategy

Domestic ExpansionsExisting Capacity Post Domestic Expansion Regional Expansions Post Regional Expansion

13

5.8

3.2

3.8

1.2

7.0

ExistingDRI

ExistingFinishedProduct

Additional DRI

AdditionalFinished Product

DomesticDRI

DomesticFinished Product

AlgeriaDRI

AlgeriaFinished Product

TotalDRI

TotalfinishedProduct

mn

tp

a

13

OutlookIn a general context of sharp volatility, we expect demand and prices of steel products

to improve gradually during the second half of 2010

Our current expansion efforts are focused on vertical integration and flexibility, which

includes expanding our DRI capacity and adding long product production capabilities at

EFS our dedicated flat steel facility

14

EFS our dedicated flat steel facility

14

Q&A

Divisional Review: EZDK EZDK (Alexandria) H1 2009 H1 2010

Sales:

Value: EGP 4.3bn EGP 4.4bn

Volume:

Long: 925 thousand ton 817 thousand ton

Flat: 492 thousand ton 450 thousand ton

Exports as % of Sales:

Long: 2% 4%

16

Egypt’s largest steel complex

Capacity to produce 2 million tonnes of long products and 1 million tonnes of Flat products per year

Capable of long and flat production to international standards, including thin gauge flat steel

Privately operated port that can dock ships of up to 150,000 dwt - few other producers have this benefit

DRI for internal meltshop use is supplied by the plant’s MIDREX direct reduction units

16

Long: 2% 4%

Flat: 55% 46%

EBITDA: EGP 0.8bn EGP 1.1bn

Production:

Long Products: 953 thousand ton 927 thousand ton

Flat Products: 470thousand ton 489 thousand ton

Billets: 1,014 thousand ton 906 thousand ton

Divisional Review: ESR/ESRESR/ERM ( Sadat City & 10th of Ramadan)

H1 2009 H1 2010

Sales:

Value:

Long: EGP 2.1 bn EGP 2.4bn

Other: 324 thousand ton

Volume:

Long: 657 thousand ton 728 thousand ton

EBITDA: EGP 207mn EGP 107mn

17

Mini-mill in the strategic location of Sadat City, commissioned in 1995

Also operate a plant at the 10th Ramadan, which comprises of rolling mill and wire mesh factory

Capacity to produce 1.5 million tonnes of long products per year

17

EBITDA: EGP 207mn EGP 107mn

Production:

Long Products: 735 thousand ton 799 thousand ton

Billets: 418 thousand ton 399 thousand ton

Divisional Review: EFSEFS (Suez) H1 2009 H1 2010

Sales:

Value: EGP 257mm EGP 681mm

Flat: EGP 65mn EGP 665mn

Other: EGP 191mn EGP 16mn

Volume:

Flat: 31 thousand ton 194 thousand ton

18

One of the few producers in the world to operate thin slab casting technology, to produce thin gauges

of steel sheets with a minimum thickness of 1mm

Capacity to produce 1.3 million tonnes of either flat or long products per year

Installation of billet caster at EFS to enable flexibility in producing either flat steel or semi-finished long

products at times when the flat steel market is in a low cycle

18

Flat: 31 thousand ton 194 thousand ton

Exports as % of Sales: 100% 92%

EBITDA: EGP -129mn EGP 6mn

Production:

Flat Products: 231 thousand ton

ezzsteel at a Glance

The largest steel producer in the MiddleEast and Africa with a total actualcapacity of 5.8mn tonnes per annum

3.5mn tonnes of long products(Rebar)

2.3mn tonnes of flat products(HRC)

Ezz Industries Free Float

34%66%

19

(HRC)

ezzsteel is listed on the Egyptian StockExchange and the London StockExchange (through a GDR program) andhas a market capitalisation of EGP 10 bnas at August 25th, 2010

55%

Al-Ezz Rollling

Mills

99%

55%

34%

Note: Ezzsteel direct and indirect stake in EFS: 64%

19

Relative Share Performance Vs EGX30Share Data:

52wk High on 15th of April 2010: 24.52 EGP

52wk Low on 27th of August 2009: 14.58 EGP

Avg. Daily Traded Volume: 1.5 mn Shares

Market Cap: 10 bn EGP

2020

ESRS EGX30