^2024-10-07

Statement issued by thyssenkrupp Steel Europe in response to recent media reports on the construction of the direct reduction plant

thyssenkrupp remains committed to its green transformation and climate-neutral steel production. There is no way around the decarbonization of CO₂-intensive steel production in the long term. The Executive Board of thyssenkrupp Steel Europe AG has informed the Supervisory Board of thyssenkrupp Steel Europe AG about expected cost increases. The situation is currently being reviewed based on this information. We currently assume that the direct reduction plant can be implemented under the given framework conditions.

Potential cost increases for the DRI plant under construction currently have no impact on the confirmed federal and state subsidies. If additional costs are incurred, these will then be included in the independent expert reports on the future financial resources of the steel division in the course of its independence.

At the same time, the business plan, which is currently being revised, will also provide insights into the further “green transformation” of thyssenkrupp’s Steel division. We are continuously examining the best and most economically viable solutions under the given framework conditions in order to make thyssenkrupp’s steel business climate-neutral in the long term.