<SEC-DOCUMENT>0001342874-22-000049.txt : 20220802
<SEC-HEADER>0001342874-22-000049.hdr.sgml : 20220802
<ACCEPTANCE-DATETIME>20220802162244
ACCESSION NUMBER:		0001342874-22-000049
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220630
FILED AS OF DATE:		20220802
DATE AS OF CHANGE:		20220802

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ternium S.A.
		CENTRAL INDEX KEY:			0001342874
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			N4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32734
		FILM NUMBER:		221129034

	BUSINESS ADDRESS:	
		STREET 1:		26, BOULEVARD ROYAL
		STREET 2:		4TH FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2449
		BUSINESS PHONE:		(352) 4661-11-3815

	MAIL ADDRESS:	
		STREET 1:		26, BOULEVARD ROYAL
		STREET 2:		4TH FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2449
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>prternium2q2022.htm
<DESCRIPTION>6-K
<TEXT>
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<title>Document</title></head><body><div id="ieaef654e4eba4c369ea44d4ce860a977_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">FORM 6 - K</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:13pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:13pt;font-weight:400;line-height:120%">Washington, D.C. 20549</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Report of Foreign Private Issuer</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Pursuant to Rule 13a - 16 or 15d - 16 of</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">the Securities Exchange Act of 1934</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:13pt;font-weight:700;line-height:120%">As of 8&#47;2&#47;2022 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:13pt;font-weight:700;line-height:120%">Ternium S.A. </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(Translation of Registrant</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">&#8217;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">s name into English)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:13pt;font-weight:700;line-height:120%">Ternium S.A.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="padding-left:54pt;padding-right:54pt;text-align:center;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">26, Boulevard Royal - 4th floor</font></div><div style="padding-left:18pt;padding-right:18pt;text-align:center;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">L-2449 Luxembourg </font></div><div style="padding-left:72pt;padding-right:72pt;text-align:center;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">(352) 2668-3152 </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(Address of principal executive offices)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:1.12pt;padding-right:1.12pt;text-align:center;text-indent:20.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F.</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Form 20-F </font><font style="color:#000000;font-family:'Webdings',sans-serif;font-size:16pt;font-weight:400;line-height:120%;text-decoration:underline">a</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> Form 40-F </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:13pt;font-weight:700;line-height:120%">__</font></div><div style="text-align:center"><font><br></font></div><div style="text-indent:20.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12G3-2(b) under the Securities Exchange Act of 1934.</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Yes </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:13pt;font-weight:700;line-height:120%">__</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">No </font><font style="color:#000000;font-family:'Webdings',sans-serif;font-size:16pt;font-weight:400;line-height:120%;text-decoration:underline">a</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center;text-indent:20.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">If &#8220;Yes&#8221; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b)&#58; </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Not applicable</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:140%">This report contains Ternium S.A.&#8217;s press release announcing second quarter and First Half of 2022 results.</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">SIGNATURE</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">TERNIUM S.A. </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">By&#58; &#47;s&#47; Guillermo Etchepareborda&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;By&#58; &#47;s&#47; Sebasti&#225;n Mart&#237;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Name&#58; Guillermo Etchepareborda&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Name&#58; Sebasti&#225;n Mart&#237;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Title&#58; Attorney in Fact&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Title&#58; Attorney in Fact</font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Dated&#58; August&#160;2, 2022 </font></div><div><font><br></font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="ieaef654e4eba4c369ea44d4ce860a977_4"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:44.356%"></td><td style="width:0.1%"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:32pt"><td colspan="3" style="padding:0 1pt"><div style="padding-left:36pt"><img alt="terniumlogoa14a.gif" src="terniumlogoa14a.gif" style="height:32px;margin-bottom:5pt;vertical-align:text-bottom;width:98px"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right"><img alt="pressreleasea13a.gif" src="pressreleasea13a.gif" style="height:22px;margin-bottom:5pt;vertical-align:text-bottom;width:154px"></div></td></tr></table></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Sebasti&#225;n Mart&#237;</font></div><div><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Ternium - Investor Relations</font></div><div><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">+1   (866) 890 0443</font></div><div><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">+54 (11) 4018 8389</font></div><div><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">www.ternium.com</font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:8pt;text-align:justify"><font style="color:#ff3300;font-family:'Trade Gothic',sans-serif;font-size:16pt;font-weight:700;line-height:120%">Ternium Announces Second Quarter and First Half of 2022 Results</font></div><div style="margin-top:8pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Luxembourg, August&#160;2, 2022 &#8211; Ternium S.A. (NYSE&#58; TX) today announced its results for the second quarter and first half ended June&#160;30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:112%">The financial and operational information contained in this press release is based on Ternium S.A.&#8217;s</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">operational data and consolidated condensed interim financial statements prepared in accordance with</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">IAS 34 &#8220;Interim financial reporting&#8221; (IFRS) and presented in US dollars ($) and metric tons. This press release includes certain non-IFRS alternative performance measures such as Adjusted EBITDA, Net (Cash) Debt and Free Cash Flow. The reconciliation of these figures to the most directly comparable IFRS measures is included in Exhibit I. </font></div><div style="text-align:justify"><font><br></font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_7"></div><div><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Summary of Second Quarter of 2022 Results</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.472%"><tr><td style="width:1.0%"></td><td style="width:47.684%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.569%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.921%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.545%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.545%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Steel Shipments (tons)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">2,957,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">2,951,000</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">3,068,000</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Iron Ore Shipments (tons)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">837,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">897,000</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">906,000</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Net Sales ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">4,438</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">4,305</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">3,920</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Operating Income ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,071</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,059</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,271</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Adjusted EBITDA ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,225</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,209</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,420</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Adjusted EBITDA Margin (% of net sales)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Adjusted EBITDA per Ton ($)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">414</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">409</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">463</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Net Income ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">936</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">878</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,158</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Equity Holders&#8217; Net Income ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">799</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">776</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Earnings per ADS</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%"> ($)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">4.07</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">3.95</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">5.21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:9pt;font-weight:400;line-height:120%"> American Depositary Share. Each ADS represents 10 shares of Ternium&#8217;s common stock. Results are based on a weighted average number of shares of common stock outstanding (net of treasury shares) of 1,963,076,776.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.5pt">Adjusted EBITDA of $1.2 billion on steel shipments of 3.0 million tons, with adjusted EBITDA margin of 28% and adjusted EBITDA per ton of $414.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Equity holders&#8217; net income of $799.3 million, equivalent to earnings per ADS of $4.07.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Net cash used in operating activities of $5.3 million, after a working capital increase of $681.4 million, which included a significant increase in inventory costs, and income tax cash outflows of $617.2 million, reflecting an increase in advance payments for fiscal year 2022 in Mexico and the payment of an outstanding tax balance for fiscal year 2021 in Argentina.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Negative free cash flow of $166.1 million after capital expenditures of $160.8 million.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Dividends paid to shareholders of $1.80 per ADS, or $353.4 million, following the payment of an interim dividend of $0.80 per ADS in the fourth quarter of 2021, for a total dividend paid to shareholders of $2.60 per ADS for fiscal year 2021.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Net cash position of $1.0 billion at the end of June 2022, compared to net cash position of $1.6 billion at the end of March 2022.</font></div><div style="padding-left:6.75pt;text-align:justify;text-indent:-6.75pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline"> </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Ternium&#8217;s steel shipments in the second quarter of 2022 were 3.0 million tons, stable sequentially. On a year-over-year basis, steel shipments decreased 110,000 tons in the second quarter, due to a 208,000-ton decrease in the volume of slabs shipped to third parties, partially offset by a 98,000-ton increase in finished steel shipments reflecting a further integration of Ternium's production system.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Steel volumes in Mexico increased 7% sequentially in the second quarter of 2022 on healthy industrial customer demand. Automobile manufacturers continued experiencing supply chain constraints in the period, which further curtailed their ability to improve vehicle production rates. In addition, steel volumes shipped to commercial customers increased sequentially mainly reflecting a restocking process, as infrastructure investment in the country remained subdued. On a year-over-year basis, shipments in Mexico decreased 3% in the second quarter of 2022 on weaker industrial customer demand, partially offset by the positive effect of commercial customer's restocking in the period.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Shipments in the Southern Region increased 2% sequentially in the second quarter of 2022, reflecting increased steel demand in Argentina following a seasonally low first quarter. On a year-over-year basis, shipments in the Southern Region decreased 5% in the second quarter of 2022 as in the prior-year period demand for Ternium's products in Argentina was prompted by softening pandemic-related restrictions. Argentina's construction and industrial activity continued growing in the second quarter of 2022 despite the persistence of a high level of uncertainty in connection with the country's economic and financial performance.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">In the Other Markets region, shipments decreased 14% sequentially reflecting lower volumes of finished steel products and of slabs shipped to third parties. On a year-over-year basis, shipments in the second quarter of 2022 decreased 3% on lower volumes of slabs shipped to third parties that were mostly offset by higher finished steel shipments in Ternium's main markets in the region.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Revenue per ton in the second quarter of 2022 was $1,471, up 3% from the first quarter of 2022 reflecting higher realized steel prices in the Southern Region and in Mexico. On a year-over-year basis, revenue per ton in the second quarter of 2022 increased $221, reflecting higher steel prices in all of Ternium&#8217;s steel markets and a higher value-added sales mix.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Operating income in the second quarter of 2022 reached $1.1 billion with adjusted EBITDA of $1.2 billion. Adjusted EBITDA per ton increased $5 sequentially to $414, reflecting the net effect of a slight increase in both realized steel prices and cost per ton. On a year-over-year basis, adjusted EBITDA per ton decreased $49 in the second quarter mainly as a result of higher costs of purchased slabs, raw materials and other inputs partially offset by higher realized steel prices. </font></div><div style="text-align:justify"><font><br></font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_350"></div><div style="text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:115%">Summary of First Half of 2022 Results</font></div><div style="text-align:justify"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.842%"><tr><td style="width:1.0%"></td><td style="width:46.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.083%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.602%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.726%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:100%">1H21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Steel Shipments (tons)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">5,909,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">6,167,000</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Iron Ore Shipments (tons)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,734,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,940,000</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Net Sales ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">8,743</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">7,169</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Operating Income ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">2,130</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">2,177</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Adjusted EBITDA ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">2,433</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">2,478</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">-2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Adjusted EBITDA Margin (% of net sales)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Adjusted EBITDA per Ton ($)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">412</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">402</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Net Income ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,814</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,865</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Equity Holders' Net Result ($ million)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,575</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">1,625</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">Earnings per ADS</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%"> ($)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">8.02</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">8.28</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Adjusted EBITDA of $2.4 billion, on steel shipments of 5.9 million tons, with adjusted EBITDA margin of 28% and adjusted EBITDA per ton of $412.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Equity holders' net income of $1.6 billion, equivalent to earnings per ADS of $8.02.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Net cash provided by operating activities of $687.0 million, after income tax cash outflows of $1.5 billion, reflecting an increase in advanced payments for fiscal year 2022 and the payment of a substantial outstanding balance for fiscal year 2021, and a working capital increase of $350.0 million, which included the impact of a significant year-over-year increase in steel prices and costs.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">Free cash flow of $401.4 million after capital expenditures of $285.6 million.</font></div><div style="padding-left:6.75pt;text-align:justify;text-indent:-6.75pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Ternium&#8217;s steel shipments in the first half of 2022 were 5.9 million tons, down 258,000 tons compared to shipment levels in the first half of 2021 due to a 492,000-ton decrease in the volume of slabs shipped to third parties, partially offset by a 234,000-ton increase in finished steel shipments, reflecting the company's increased integration.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Steel shipments in Mexico decreased 5% year-over-year in the first half of 2022, with healthy industrial activity and weak infrastructure investment. Shipments in the Southern Region decreased 6% year-over-year in the first half of 2022 as steel demand in Argentina in 2021 was prompted by softening pandemic-related restrictions. In the Other Markets region, steel shipments remained relatively stable as a lower volume of slabs shipped to third parties was offset by higher finished steel shipments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Revenue per ton reached $1,449 in the first half of 2022, $313 higher than revenue per ton in the first half of 2021, reflecting a significant increase in steel prices in all of Ternium's markets and a higher value-added sales mix.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%">Operating income amounted to $2.1 billion in the first half of 2022, with adjusted EBITDA of $2.4 billion. Adjusted EBITDA per ton reached $412 in the first half of 2022, increasing $10 year-over-year as higher realized steel prices were mostly offset by higher costs of purchased slabs, raw materials and other inputs.</font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_10"></div><div><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:107%">Greenhouse Gas Emissions Assessment Under GHG Protocol Accounting Standard</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Ternium has recently completed a company-wide assessment of its greenhouse gas emissions under the GHG Protocol accounting standard. The application of the GHG Protocol standard complements the company&#8217;s current reporting framework under worldsteel&#8217;s CO</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:1.55pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> emissions reporting methodology. This new assessment included the verification by an independent third party of Ternium&#8217;s greenhouse gas emissions.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:107%">Outlook </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">The global steel market environment is rapidly normalizing after the disruption caused by Russia&#8217;s invasion of Ukraine in the first quarter of 2022, which led to higher costs across the industry and a surge in steel prices. This normalization, coupled with increasing inflation, the progression of a monetary tightening cycle in the largest western economies and the COVID-19 lockdown-related economic slowdown in China, are causing significant steel price decreases. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Ternium expects these steel price decreases to negatively affect its margins during the third quarter of 2022, as the quarterly reset of contract prices gradually reflects lower average prices. The company also expects cost per ton to increase, primarily due to high raw material and slab costs flowing through the company&#8217;s inventories. As a result, Ternium anticipates adjusted EBITDA to decrease in the third quarter compared to the second quarter of 2022, mainly due to a lower steel margin and steady shipment levels.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">In Mexico, demand from the industrial market remains relatively healthy, although supply chain disruptions continue to prevent the automotive industry from a needed increase in production. In addition, the commercial market is currently seeing lackluster apparent demand due to a destocking process driven by the significant decrease in steel prices over the last few months, as well as inflation and higher interest rates which are impacting end customers. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">In Argentina, steel demand may reflect substantial macroeconomic volatility.</font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_678"></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Analysis of Second Quarter of 2022 Results</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Net sales </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">in the second quarter of 2022 were $4.4 billion, 3% higher than net sales in the first quarter of 2022 and 13% higher than net sales in the second quarter of 2021. The following table outlines Ternium&#8217;s consolidated net sales for the aforementioned periods&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</font></div></div></div><div id="ieaef654e4eba4c369ea44d4ce860a977_13"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:72pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:78.455%"><tr><td style="width:1.0%"></td><td style="width:32.350%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.029%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.684%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.684%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.933%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.684%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.936%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Net Sales</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$ million</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Mexico</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,456</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,262</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,272</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Southern Region</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">990</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">895</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">812</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Other Markets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">905</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,054</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">761</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;Total steel products</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,352</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,212</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,845</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;Other products</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">*</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">86</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">93</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">65</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Total steel segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,438</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,305</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,910</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Total mining segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">111</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">103</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">112</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-2&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total steel and mining segments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">4,548</font></td><td colspan="3" style="background-color:#969696;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">4,408</font></td><td colspan="2" style="background-color:#969696;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">3</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="background-color:#969696;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">4,022</font></td><td colspan="2" style="background-color:#969696;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">13</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Intersegment eliminations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(111)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(103)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(102)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Total net sales </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">4,438</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">4,305</font></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">3</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">3,920</font></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">13</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td></tr><tr><td colspan="21" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">*</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:8pt;font-weight:400;line-height:100%">The item &#34;Other products&#34; primarily includes electricity sales in Brazil and Mexico.</font></div></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Shipments</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Thousand tons</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Mexico</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,679</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,574</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,735</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Southern Region</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">601</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">587</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">636</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other Markets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">677</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">791</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">697</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Total steel segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,957</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,951</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,068</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-4&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Total mining segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">837</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">897</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-7&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">906</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-8&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Revenue &#47; ton</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$&#47;ton</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif</font></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Mexico</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,463&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,438&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,309&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Southern Region</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,647&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,525&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,276&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other Markets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,337&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,333&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,093&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Total steel segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,471&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,427&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,253&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Total mining segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">132&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Cost of sales</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> was $3.1 billion in the second quarter of 2022, representing an increase of $74.7 million from the first quarter of 2022, principally due to a $171.4 million increase in other costs, including a $138.1 million increase in labor costs primarily in connection with Ternium Mexico employees' profit sharing scheme, and a $20.3 million increase in maintenance expenses&#59; partially offset by a $96.7 million decrease in raw materials and consumables used, mainly reflecting lower purchased slab costs partially offset by higher energy costs. Compared to the second quarter of 2021, cost of sales increased $643.2 million, principally due to a $488.0 million, or 26%, increase in raw materials and consumables used, mainly reflecting higher purchased slab, raw material and energy costs, partially offset by a 4% decrease in steel volumes&#59; and to a $155.2 million increase in other costs, including a $130.9 million increase in labor costs. </font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Selling, General &#38; Administrative (SG&#38;A) expenses</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> in the second quarter of 2022 were $310.4 million, or 7% of net sales, an  increase of $29.1 million compared to SG&#38;A in the first quarter of 2022, including a $12.0 million increase in labor costs&#59; and an increase of $65.9 million compared to SG&#38;A in the second quarter of 2021, mainly due to a $48.5 million increase in freight and transportation expenses and a $10.7 million increase in labor costs.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Operating income </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">in the second quarter of 2022 was $1.1 billion, or 24% of net sales, compared to operating income of $1.1 billion, or 25% of net sales, in the first quarter of 2022, and operating income of $1.3 billion, or 32% of net sales, in the second quarter of 2021. The following table outlines Ternium&#8217;s operating result by segment for the second quarter of 2022 and the first quarter of 2022&#58; </font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.699%"><tr><td style="width:1.0%"></td><td style="width:21.245%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.408%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.933%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.774%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.933%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.616%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.933%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.567%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.523%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Steel segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Mining segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Intersegment</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">eliminations</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 2.12pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$ million</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Net Sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,305</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">111</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">103</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(111)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(103)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,305</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(3,072)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(2,983)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(95)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(84)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">108</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">83</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(3,059)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(2,984)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">SG&#38;A expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(299)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(272)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(11)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(310)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(281)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other operating income (loss), net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Operating result</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,069</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,069</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">5</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">10</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(3)</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(20)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,071</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,059</font></td></tr></table></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">The following table outlines Ternium&#8217;s operating result by segment for the second quarter of 2022 and the second quarter of 2021&#58;</font></div><div style="padding-left:72pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.699%"><tr><td style="width:1.0%"></td><td style="width:21.245%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.408%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.933%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.774%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.933%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.616%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.933%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.567%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.523%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Steel segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Mining segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Intersegment</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">eliminations</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 2.12pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$ million</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Net Sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,910</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">111</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">112</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(111)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(102)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,920</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(3,072)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(2,439)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(95)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(77)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">108</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">101</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(3,059)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(2,416)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">SG&#38;A expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(299)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(239)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(11)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(310)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(245)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other operating income (loss), net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">12</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">12</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Operating result</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,069</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,244</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">5</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">30</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(3)</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,071</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,271</font></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Net financial results </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">were a gain of $37.2 million in the second quarter of 2022 primarily due to a gain of $100.7 million related to changes in the fair value of financial assets, partially offset by a net foreign exchange loss of $65.0 million mainly as a result of the negative impact of the depreciation of the Argentine Peso against the US dollar (11% in the period) on Ternium's Argentine subsidiary net local currency position. Net financial results in the first quarter of 2022 and the second quarter of 2021 were a loss of $60.9 million and a gain of $22.9 million, respectively.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Equity in results of non-consolidated companies</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> was a gain of $49.3 million in the second quarter of 2022, compared to a gain of $58.7 million in the first quarter of 2022, mainly reflecting lower results from Ternium&#8217;s investment in Usiminas. In the second quarter of 2021, equity in results of non-consolidated companies was a gain of $171.1 million, which included a non-recurring gain recorded by Usiminas related to a favorable Brazilian Federal Supreme Court ruling in connection with the calculation method for certain sales tax credits. </font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Income tax expense </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">in the second quarter of 2022 was $221.4 million, with a 19% effective tax rate, compared to </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">179.4 million in the first quarter of 2022, with a 17% effective tax rate, and $307.1 million in the second quarter of 2021, with a 21% effective tax rate. Effective tax rates in these periods included </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">the positive effect of deferred tax results at Ternium's subsidiaries in Mexico, related to the impact of inflation and the appreciation of the local currency versus the US dollar, and in Argentina, as the inflation rate outpaced the depreciation of the local currency versus the US dollar.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_501"></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Analysis of First Half of 2022 Results</font></div><div style="padding-left:72pt"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Net sales</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> in the first half of 2022 were $8.7 billion, 22% higher than net sales in the first half of 2021. 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style="width:1.0%"></td><td style="width:7.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.299%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.299%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.304%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Net Sales (million $)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Shipments (thousand tons)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Revenue&#47;ton ($&#47;ton)</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Dif.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Mexico</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,719&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,083&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,252&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,434&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,451&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,189&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Southern Region</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,886&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,492&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">26&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,188&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,259&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,587&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,186&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">34&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other Markets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,960&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,449&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,468&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,475&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,335&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">983&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT 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0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">5,909&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">6,167&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,449&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">27&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other products</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">*</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">179&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">125&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Steel segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">8,742</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">7,149</font></td><td colspan="2" style="background-color:#8a8a8a;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">22</font><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#8a8a8a;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Mining segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">214</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">236</font></td><td colspan="2" style="background-color:#8a8a8a;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">-9</font><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#8a8a8a;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,734&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,940&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">-11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">123&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">122&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Intersegment eliminations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(213)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(216)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Net sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">8,743</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">7,169</font></td><td colspan="2" style="background-color:#8a8a8a;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">22</font><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#8a8a8a;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#FFFFFF;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="39" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">*</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:9pt;font-weight:400;line-height:100%">The item &#34;Other products&#34; primarily includes electricity sales in Brazil and Mexico.</font></div></td></tr></table></div><div style="padding-left:85.5pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Cost of sales</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> was $6.0 billion in the first half of 2022, an increase of $1.5 billion compared to the first half of 2021. This was primarily due to a $1.3 billion, or 35%, increase in raw materials and consumables used, mainly reflecting higher purchased slabs and raw material costs, partially offset by a 4% decrease in steel volumes&#59; and to a $215.9 million increase in other costs including a $142.3 million increase in labor costs, mainly in connection with Ternium Mexico employees' profit sharing scheme, and a $39.5 million increase in maintenance expenses.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Selling, General &#38; Administrative (SG&#38;A) expenses</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> in the first half of 2022 were $591.7 million, or 7% of net sales, an increase of $136.8 million compared to SG&#38;A expenses in the first half of 2021, mainly due to a $99.1 million increase in freight and transportation expenses, a $30.4 million increase in labor costs and a $11.0 million increase in taxes, partially offset by a $13.5 million decrease in amortization of intangible assets. </font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Operating income </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">in the first half of 2022 was $2.1 billion, or 24% of net sales, compared to operating income of $2.2 billion, or 30% of net sales, in the first half of 2021. 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style="width:8.133%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.663%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.820%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.507%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.507%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.446%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.390%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Steel segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Mining segment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Intersegment</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">eliminations</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 2.12pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$ million</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Net Sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8,742</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">7,149</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">214</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">236</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(213)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(216)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8,743</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">7,169</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(6,056)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(4,610)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(179)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(153)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">191</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">208</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(6,043)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(4,554)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">SG&#38;A expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(572)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(445)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(20)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(10)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(592)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(455)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other operating income (loss), net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">23</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">17</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">23</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">17</font></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Operating result</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,138</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,110</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">14</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">74</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(22)</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(7)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,130</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,177</font></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Net financial results </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">were a loss of $23.7 million in the first half of 2022, principally due to a $118.4 million net foreign exchange loss partially offset by a $78.9 million gain related to changes in the fair value of financial assets. The net foreign exchange loss in the first half of 2022 reflected mainly the negative impact of the depreciation of the Argentine Peso (18% in the period) and the appreciation of the Mexican Peso (3% in the period) against the US dollar on Ternium Argentina&#8217;s net long and Ternium&#8217;s Mexican subsidiaries net short local currency positions, respectively. Net financial results in the first half of 2021 were a gain of $38.9 million.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Equity in results of non-consolidated companies</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%"> was a gain of $108.0 million in the first half of 2022 and a gain of $217.6 million in the first half of 2021, mainly related to Ternium's equity in the results of Usiminas.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Income tax expense </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">in the first half of 2022 was $400.8 million, with an 18% effective tax rate, compared to $568.7 million in the first half of 2021, with a 23% effective tax rate. Effective tax rates included the positive effect of deferred tax results at Ternium's subsidiaries in Mexico, related to the impact of inflation and the appreciation of the local currency versus the US dollar, and in Argentina, as the inflation rate outpaced the depreciation of the local currency versus the US dollar. </font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_16"></div><div><font><br></font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Cash Flow and Liquidity</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Net cash provided by operating activities in the first half of 2022 was $687.0 million. Income tax payments reached $1.5 billion in the period, mainly due to significant outstanding tax balances for fiscal year 2021, paid in the first half of 2022 in Mexico and Argentina, and higher advance payments for fiscal year 2022 in Mexico. Working capital increased by $350.0 million in the first half of 2022 as a result of an aggregate $632.1 million increase in inventories and an aggregate $190.4 million net increase in trade and other receivables, partially offset by an aggregate $472.5 million net increase in accounts payable and other liabilities. The inventory value increase in the first half of 2022 was due to a $455.6 million increase in raw materials, supplies and others, and a $362.9 million higher cost of steel, partially offset by a $186.4 million lower steel volume.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Capital expenditures in the first half of 2022 were $285.6 million, $5.5 million lower than in the first half of 2021. During the period, Ternium advanced diverse projects throughout its main facilities, including those for further improving environmental and safety conditions and additional works in the new hot-rolling mill at the company&#8217;s Pesquer&#237;a industrial center in Mexico.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">In the first half of 2022, Ternium&#8217;s free cash flow was $401.4 million. The company paid dividends to shareholders of $353.4 million, and paid net borrowings and financial leases for a total of $412.8 million. As of June&#160;30, 2022, Ternium had a net cash position of $1.0 billion.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Net cash used in operating activities in the second quarter of 2022 was $5.3 million. Income tax payments amounted to $617.2 million in the period, reflecting an increase in advance payments for fiscal year 2022 in Mexico and the payment of the outstanding tax balance for fiscal year 2021 in Argentina. Working capital increased by $681.4 million in the second quarter of 2022 as a result of a $759.9 million increase in inventories and an aggregate $73.1 million net increase in trade and other receivables, partially offset by an aggregate $151.6 million net increase in accounts payable and other liabilities. The inventory value increase in the second quarter of 2022 was due to a $407.4 million higher cost of steel, a $278.1 million inventory value increase in raw materials, supplies and others, and a $74.4 million higher steel volume. In the second quarter of 2022, Ternium had negative free cash flow of $166.1 million.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Conference Call and Webcast</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Ternium will host a conference call on August 3, 2022, at 9&#58;30 a.m. ET in which management will discuss second quarter of 2022 results. A webcast link will be available in the Investor Center section of the company&#8217;s website at </font><font style="color:#006ebf;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">www.ternium.com</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Forward Looking Statements</font></div><div style="padding-left:72pt"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:115%">Some of the statements contained in this press release are &#8220;forward-looking statements&#8221;.  Forward-looking statements are based on management&#8217;s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements.  These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium&#8217;s control.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Trade Gothic',sans-serif;font-size:12pt;font-weight:700;line-height:120%">About Ternium</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:120%">Ternium is Latin America&#8217;s leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. The company offers a broad range of high value-added steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems. More information about Ternium is available at www.ternium.com.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:76.5pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9</font></div></div></div><div id="ieaef654e4eba4c369ea44d4ce860a977_19"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:115%">Consolidated Income Statement</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.783%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.367%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.297%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.297%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.297%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.304%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$ million</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(Unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(Unaudited)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Net sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,438&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,305&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,920&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">8,743&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">7,169&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(3,059)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(2,984)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(2,416)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(6,043)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(4,554)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Gross profit</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,379&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,321&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,504&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,699&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,615&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Selling, general and administrative expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(310)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(281)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(245)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(592)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(455)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other operating income, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Operating income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,071&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,059&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,271&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,130&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,177&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Finance expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Finance income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">18&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">40&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other financial income (expense), net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(79)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(50)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">18&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-2.25pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Equity in earnings of non-consolidated companies</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">171&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">108&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">218&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font 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style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,465&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,214&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT 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style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">878</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,158</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,814</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,865</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Owners of the parent</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">799</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">776</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,022</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,575</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,625</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Non-controlling interest</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">137&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">102&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 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style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,158</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,814</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,865</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div><font><br></font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_22"></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:115%">Consolidated Statement of Financial Position</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.052%"><tr><td style="width:1.0%"></td><td style="width:59.027%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.192%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.713%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.775%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.713%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.192%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.713%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.297%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.878%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$ million</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">June 30,<br>2022</font></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2021</font></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(Unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">6,408&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">6,432&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">916&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">902&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Investments in non-consolidated companies</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">899&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">752&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">222&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">161&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">226&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">178&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other investments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">67&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total non-current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">8,742</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">8,491</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">464&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">358&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Derivative financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Inventories, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4,540&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,908&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,976&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,767&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other investments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,340&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,290&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">719&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,277&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">9,047</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">8,605</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Non-current assets classified as held for sale</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">17,790</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">17,098</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Capital and reserves attributable to the owners of the parent</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">11,776&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">10,535&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,928&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,700&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total Equity</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">13,704</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">12,235</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Provisions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">84&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">128&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">186&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">541&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">507&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">208&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Borrowings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">538&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">656&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total non-current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,502</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,649</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">58&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">874&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">364&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">345&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,564&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,126&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Derivative financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">47&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">44&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Borrowings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">551&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">823&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,584</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">3,214</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">4,086</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">4,863</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Total equity and liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">17,790</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">17,098</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#969696;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11</font></div></div></div><div id="ieaef654e4eba4c369ea44d4ce860a977_25"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:120%">Consolidated Statement of Cash Flows</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.452%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.063%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.431%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.431%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.430%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.431%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.439%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">$ million</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(Unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(Unaudited)</font></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Profit for the period</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">936&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">878&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,158&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,814&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,865&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Adjustments for&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">153&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">150&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">149&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">303&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">300&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Equity in earnings of non-consolidated companies</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(49)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(59)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(171)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(108)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(218)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Changes in provisions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Net foreign exchange results and others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">81&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">110&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">121&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Interest accruals less payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Income tax accruals less payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(396)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(688)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1,084)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">197&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Changes in working capital</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(681)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">331&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(652)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(350)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1,318)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Net cash (used in) provided by operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(5)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">692</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">628</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">687</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">956</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Capital expenditures</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(161)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(125)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(161)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(286)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(291)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from the sale of property, plant &#38; equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition of non-controlling interest</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Dividends received from non-consolidated companies</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(Increase) decrease in other investments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(277)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">82&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(195)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Net cash used in investing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(413)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(42)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(136)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(455)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(117)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Dividends paid in cash to company</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:100%">&#8217;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">s shareholders</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(353)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(412)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(353)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(412)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Finance lease payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from borrowings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">74&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">154&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">132&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of borrowings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(339)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(203)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(242)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(541)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(279)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">Net cash used in financing activities </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(631)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(135)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(552)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(766)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(582)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(Decrease) increase in cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(1,049)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">515</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(60)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(535)</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">257</font><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div id="ieaef654e4eba4c369ea44d4ce860a977_31"></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:112%">Exhibit I - Alternative performance measures</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:112%">These non-IFRS measures should not be considered in isolation of, or as a substitute for, measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have a standardized meaning under IFRS and, therefore, may not correspond to similar non-IFRS financial measures reported by other companies.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:112%">EBITDA</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:112%"> equals net income adjusted to exclude net financial results, income tax expense, depreciation and amortization. </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:112%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:112%"> equals EBITDA adjusted to exclude the equity in earnings of non-consolidated companies. </font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:112%">Adjusted EBITDA per ton</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:112%"> equals adjusted EBITDA divided by steel shipments&#58;</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.736%"><tr><td style="width:1.0%"></td><td style="width:42.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.260%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.260%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.260%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.440%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.980%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.100%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">$ million</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Net income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">936</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">878</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,158</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,814</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1,865</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Adjusted to exclude&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">&#160;&#160;Net financial results</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(37)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">61</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(23)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">24</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(39)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">&#160;&#160;Income tax expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">221</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">179</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">307</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">401</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">569</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">&#160;&#160;Depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">153</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">150</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">149</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">303</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">300</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">EBITDA</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,273</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,268</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,591</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,542</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,695</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Less&#58; Equity in earn. of non-cons. companies</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(49)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(59)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(171)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(108)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(218)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">Adjusted EBITDA</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,225</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,209</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1,420</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,433</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2,478</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Divided by&#58; steel shipments (000 tons)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,957</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">2,951</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">3,068</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">5,909</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">6,167</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">Adjusted EBITDA per ton ($)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">414</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">409</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">463</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">412</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">402</font></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:112%">Free cash flow</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:112%"> equals net cash (used in) provided by operating activities less capital expenditures&#58;</font></div><div style="text-align:justify"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.842%"><tr><td style="width:1.0%"></td><td style="width:42.412%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.134%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.134%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.134%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.975%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.979%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">$ million</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1Q22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">2Q21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H22</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">1H21</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Net cash (used in) provided by operat. activities</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(5)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">692</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">628</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">687</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">956</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Less&#58; capital expenditures</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(161)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(125)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(161)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(286)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(291)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">Free cash flow</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">(166)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">567</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">467</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">401</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">665</font></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:700;line-height:115%">Net (cash) debt</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:11pt;font-weight:400;line-height:115%"> equals borrowings less the consolidated position of cash and cash equivalents and other investments&#58;</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.052%"><tr><td style="width:1.0%"></td><td style="width:49.139%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.486%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.486%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.489%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">$ billion</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">June 30,  2022</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">March 31, 2022</font></td><td colspan="3" style="background-color:#969696;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">June 30,  2021</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Borrowings (current and non-current)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">1.6</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Less&#58; cash and cash equivalents</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">2</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(0.7)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1.8)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(0.8)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:112%">Less&#58; other investments (current and non-current)</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">2</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1.4)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(1.2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:400;line-height:100%">(0.6)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:112%">Net (cash) debt</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(1.0)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">(1.6)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:10pt;font-weight:700;line-height:100%">0.2</font></td></tr></table></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:5.85pt;font-weight:400;line-height:115%;position:relative;top:-3.15pt;vertical-align:baseline">2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Sabon MT Pro',serif;font-size:9pt;font-weight:400;line-height:115%">Ternium Argentina&#8217;s consolidated position of cash and cash equivalents and other investments amounted to $1.1, $1.0 and $0.5 billion as of June 30, 2022, March 31, 2022, and June 30, 2021, respectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:4.5pt;text-indent:-4.5pt"><font><br></font></div><div style="padding-left:4.5pt;text-indent:-4.5pt"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13</font></div></div></div></body></html>
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