Jewellery & Industrial MetalsJewellery & Industrial MetalsDietmar Becker Dietmar Becker ––

Senior Vice PresidentSenior Vice President

Capital Markets Event on Recycling Capital Markets Event on Recycling ––

1818--19 Nov 201019 Nov 2010

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Jewellery & Industrial Metals

Provides gold, silver and other precious metals containing products to the jewellery sector and industrial applications

Closed loop offering for precious metals products, refining and related supply services

•

Recycling of high-value scraps & sweeps

Multi-regional business concept, strong in Europe and expanding worldwide•

#1 gold and silver semi-finished products in Europe

•

#1 machined platinum alloy products for jewellery

in Europe

The business unit includes Allgemeine

Gold & Silberscheideanstalt

AG (listed company, 91% owned by Umicore)

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Agenda

•

Business model

•

Key customer groups

•

Jewellery & Lifestyle

•

Industry

•

Business strategy

Business model

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Business model

Leading supplier of precious metals and products for Jewellery and Industrial Metals

Customer vicinity and presence in relevant regional key markets

Refining and supply services combined with precious metals management

One-stop-shop PM cycle offering with complete customer service leading to competitive advantage

material

solutions

Ag Au

Pt Pd

Cu

Applicationknow-how

Recycling

Chemistry

Material science

Metallurgy

Life style Jewellery

Chemistry

Electrical

Medical

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Recycling volume (indexed)

0

1

2

3

4

2005 2006 2007 2008 2009 2010

Au Ag Pt

Product volume (indexed)

0

1

2

3

4

2005 2006 2007 2008 2009 2010

Business model

Full product and service offering to multi-regional markets offering•

Wide range of customized products

•

Refining/Recycling services

•

Analytical & Applied Tech services

Market leader in Europe in several segments with growing business in Asia and North-America

Strong supply advantage by recycling

•

70-100% of Au

•

50% of Ag

•

40% of Pt

50% of all refining customers also buy products, 50% of delivered product volume comes back as recycling feed

Source: Umicore actuals

& estimates

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Foshan China # 31

•

Refining/recycling•

Production

BangkokThailand # 56

•

Refining/recycling•

Production

TorontoCanada # 58

•

Production•

Refining/recycling

ViennaAustria # 93

•

Production•

Refining/recycling

Pforzheim Germany # 357

•

Headquarters•

Refining/recycling•

Production

Amsterdam

Netherlands # 58

•

Production

Manaus Brazil # 12

•

Production

People

Total workforce : 651 people

Key customer groups

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Key Customer Groups Jewellery & Industrial Metals

Au

5%

95%

Jewellery

Industry

Ag

85%

15%Jewellery

Industry

Core competencies are built on know-how•

Precious metals metallurgy

•

Chemistry

•

Material science

•

Customer service

Main presence of gold in jewellery

and silver in industry segment

BU Jewellery & Industrial Metals gives access to the largest segment of gold recycling

Source: Umicore actuals

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Recycling

PlatinumPlatinum

Recycled scrap, sweeps, solutions

Recycled scrap, sweeps, solutions

Jewellery scrapJewellery scrap

SilverSilver

GoldGold

Secondary materialsSecondary materials

Primary materialsPrimary materials

Complex

recycling

residues

Common

raw

materials

Complex

raw

materials

Special

high-grade

recyclables

PalladiumPalladium

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Supply Metal Product Application Market

Gold

Silver

Lifestyle goods

Sheets, wires

Fine metals, alloys, solders

Platinum, Palladium

Recycled scrap, sweeps, solutions

Sheets, strips, plates, discs, tubes, rings, …

Medal / Coin blanks

Art medals Private art collectors

Old jewellery

Local GoldsmithsJewellery industry

Watches

Jewellery -

Value Chain

Fashion jewellery

Rings

High-end jewellery

Fashion products

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Jewellery Market dynamics

World jewellery fabrication volume declined significantly in last decade driven by economy and gold price development

Off-shoring of low price segment jewellery producers to low-cost countries

Emerging jewellery markets in Far East along with economic development and individual

wealth increase

Traditional local/regional markets still important

Top luxury brand segments remain strong

Jewellery scrap recycling increased, offering opportunities for Umicore

Global gold consumption

0

1,000

2,000

3,000

4,000

2000 2008 2009

(in tonnes)

Jewellery

Industry

Investment

0.0

0.5

1.0

1.5

2.0

2000 2008 2009

China

Global

Source: GFMS

Evolution gold jewellery consumption

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Jewellery Market position & approach

Europe as successful home market•

# 1 Au jewellery refining

•

# 1 Pt and Ag semi-finished products

Recent investments in Asia (Thailand and China) and acquisitions

(Canada)

have complemented the growth of the business•

Thailand has gained importance as manufacturing base for fashion

jewellery

(e.g. Pandora, Swarowski)

•

China is a growing market in both industrial and jewellery segment

Well positioned at leading luxury brands

Competitors:•

Metalor, Other Swiss, Cookson, local Pforzheim companies, …

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Industrial Metals –

Value Chain

Supply Metal Product Application Market

Gold

Silver

Medical device industry

Electrical and PM fabrication

Sputter targets, machined parts, evaporation

materials

Silver catalysts

Platinum, Palladium

Recycled scrap, sweeps, solutions

Sheets, strips, plates, discs, tubes, wires, solders, rings, …

Formaldehyde synthesisChemical, leather,

wood industries, …

Photovoltaic, Semiconductor,

High purity silicon producers, coating uses,

Medal / Coin blanks

Coins Investors, collectors

Old jewellery

Medical equipment

Industrial Customers

Fresh Ag granules

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Industrial Metals Market dynamics

Overall significant growth of silver

demand in industrial fabrication and new energy technologies

Ongoing demand for coins

as “safe haven”

by

investors, with trend towards special alloys with

les silver content to compensate for higher PM prices

Demand for PM targets and silver anodes used in

surface technology

expected to grow in line with GDP

and poly-silicon industry recovery respectively

Silver catalysts for use in the formaldehyde

industry, expected to grow according to GDP

Increasing demand from automotive industry

expected, with recent upswing in production

Medical industry

expected to continue on a steady growth path

Global Ag consumption

0

3,000

6,000

9,000

12,000

15,000

2000 2008 2009 2010

(in tonnes)

Jewellery

Industry

Photography

Silverware

Investment

Source: GFMS + 2010 Umicore estimate

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Industrial Metals Market position & approach

Europe remains of high relevance i.e. for high quality and technology;

Umicore is # 1 for silver semi-finished products in Europe

Industry and coins are the two main development and growth segments

with China being a main growth market

Industrial niche markets in PV, chemical and medical industry with organic growth opportunities

Recycling and market knowhow and large manufacturing capability and capacity leads to competitive advantage over Metalor, Cookson and several local Pforzheim companies

Source: GFMS

Business strategy

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Business strategy

Europe is Umicore’s successful home market

Strengthen and broaden current position by leveraging

•

Presence with top brand customers

•

Industrial opportunities in photovoltaic, chemical, electrical, automotive and medical industries

•

Expansion into other regions, in particular Asia and North America

Pursuing front-end outsourcing opportunities

Development of jewellery and industrial refining business (scrap, sweep)

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Forward-looking statements

This presentation contains forward-looking information that involves risks and uncertainties, including statements about Umicore’s plans, objectives, expectations and intentions.

Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Umicore.

Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected.

As a result, neither Umicore nor any other person assumes any responsibility for the accuracy of these forward-looking statements.

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Dietmar Becker Senior Vice President Jewellery & Industrial Metals

Dietmar Becker holds a university degree in Economics and Organisational Sciences. He started working for Degussa AG –

part of which was acquired by Umicore in 2003 -

in 1988, heading a number of businesses in Germany as well as in Italy, prior to being appointed Senior Vice-

President Technical Materials in 2007. He became Senior Vice-President of the newly created business unit Jewellery & Industrial Metals in 2010.