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TSRA LEADING SCRAP METAL RECYCLING COMPANY

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TSR Recycling GmbH & Co. KG, also known simply as TSR, is based in Germany and is one of theleading companies in Europe offering steel and non-ferrous scrap metal recycling services.

Today, the TSR Group employs around 3,000 people who work at 150 business locations across theworld. In 2013 TSR had a turnover of more than 3 billion euros and handled more than 7 milliontonnes of material (6.9 million tonnes of ferrous metal; 0.4 million tonnes of non-ferrous metals).

The company has both extensive and wide-ranging experience in its field thanks to a history stretchingback more than 120 years. TSR was formed indeed in 1996 as a result of a merger between two of thelargest German steel producers — Klöckner and Thyssen, founded relatively in 1906 and 1890.

TSR vision stretches far into the future and encompasses corporate values which are very similar to thephilosophy of its shareholder Alfa Acciai.

TSR Group

The main activities of the TSR Group:

Trading in and processing steel and metal scrapScrap metal recyclingIndustrial services

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TSR customers benefit from the extensive areas of expertise of its shareholders.

REMONDIS is an innovator in the water and recycling sectors andprovides services for more than 20 million people. The company, which isbased in Lünen, operates in 35 countries across Europe, Africa, Asia andAustralia and employs around 30,500 people.

Together with the shareholders REMONDIS and ALFA ACCIAI, TSR has been able to offeradditional services in the fields of recycling and waste management since 2007. The two owners are notsimply the company's economic mainstays. Synergies have been set up to create a wide variety ofinnovative services and materials.

TSR SHAREHOLDERS

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TRADING

TSR is an important supplier of ferrous and non-ferrous metals for the steel and metal industrythanks to its processing facilities in Europe and its trading offices around the world.

Scrap metals are valuable raw materials because scrap metal recycling saves energy and conservesour planet's natural resources. It does not matter what the material is, as you can see in the followingslide: TSR has excellent knowledge of all aspects of scrap metal recycling - from accepting thematerials all the way through to returning them to production cycles as secondary raw materials.TSR sorts the metals, processes them, categorises them into the usual market grades and thenreturns them to production cycles via scrap trading businesses.

TSR use all modes of transport available whether it be by road, rail or ship. TSR's exportwarehouses at the ports of Amsterdam, Dordrecht, Hamburg and Bremen act as central locationswhere the metals can be packed and shipped all around the world.

The scrap material comes straight to TSR from traders, waste management businesses and scrap producers. As a result of its activities, TSR acts as a link between

scrap producers, scrap traders and the iron and steel industry.

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TRADING: FERROUS AND NON FERROUS MATERIALS

SCRAP STEELAlfa Acciai imports from TSR nowadays approximatly10-12,000 tons per monthsby lorrys and railways

NON-FERROUS METALSSuch as: Aluminium, Leas; Chromium, Cr-Ni scrap, Cr-Ni-Moscrap, Electric Motors, Cables, Copper, Brass, Red Brass, Zinc

FOUNDRY SCRAP AND SPECIAL PRODUCTS

UNCLASSIFIED STEEL PRODUCTS

PIG IRON REMELT

CATALYTIC CONVERTERS

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TRADING: TYPE OF SCRAP STEEL

TSR is one of the main suppliers of scrap steel for German and European steelworks and foundries. Each day, TSRbuys large volumes of different types of steel from industrial customers, private individuals, traders and other suppliers.This scrap steel is then professionally processed using high performance, state-of-the-art facilities and sophisticatedsorting processes in order to create clearly defined, quality-assured categories of material.

Grade 1: Lightweight scrap metal

Grade 2: New heavy-duty scrap metal

Grade 3: Heavy-duty scrap metal

Grade 4: Shredded scrap

Grade 5: Turnings

Grade 6: Bales

Grade 8: New lightweight scrap

Cooling pellets

DSD material

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If the valuable raw materials are to be recovered from ferrous and non-ferrous metals, then theproducts must first be separated into their individual parts. This not only requires extensiveexperience and know-how, but also highly specialized production facilities, equipment and machines.

TSR’s extensive capacities: the TSR Group’s production plants are home to 36 scrap metal shears, 25balers, 10 shredders as well as diverse crushers and facilities for separating non-ferrous metals.

RECYCLING

Shears – to cut up scrap Balers – to press lightweight ferrous scrap and metals into bales

Crushers – to break up casting

Cutting mills – to recover copper from waste cables

Shredders – to separate different materials

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The TSR Group companies recover top quality secondary raw materials thanks to their computer-controlled, state-of-the-art technology.Being a service provider, TSR accepts a wide range of metals from mandatory take-back systems. Asadditional service, part of the company’s full-service packages, TSR is also able to accept non-metalrecyclable waste from suppliers – such as timber and glass, paper and cardboard, old car tyres andobsolete transformer stations.No matter what the problem is, TSR always has a solution!Besides providing services, TSR can also call on those of its sister companies, shareholders andassociated companies to process non-metal waste and extend the wide range of services alreadyoffered by the TSR Group.

RECYCLING

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Client can choose just one of the industrial services from TSR portfolio or, if he wishes, TSR candraw up a tailor-made solution to optimize his in-house processes and add value to his business.

SERVICE FOR STEELWORKSBesides managing in-house scrap handling and storage areas, TSR can alsoreduce the workload of foundries and steelworks by taking over full managementof their scrap yards. TSR deals with all in-house material flows, with slag recyclingas well as with collecting production waste and faulty products. As a result, TSRsubsidiary, STEELAGE, can be found at a number of steelworks in EasternEurope where it offers a full range of industrial services.

INDUSTRIAL SERVICES

CONTAINER SERVICESTSR is able to offer its customers many different kinds and sizes of container.If needed, TSR can even produce bespoke containers to fulfil specificrequirements.

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DISMANTLING/DEMOLITION WORKTSR has many years' experience of dismantling steel bridges, power plants, windturbines, transformers, generators, cranes and other such complex structures.Moreover, if required, TSR can coordinate the qualified specialists, keep a closeeye on the legal and environmental regulations and compile all necessarydocumentation.Besides its technical know-how and special logistics and technological systems,TSR also has enormous storage capacities at its disposal.

DISMANTLING RAIL WAGONSTSR is also able to dismantle wagons, locomotives and tank wagons at itsaccredited facilities or on-site.

FULL PACKAGE OF ON SITE SERVICESBesides its core areas of expertise – namely collecting, trading in andprocessing metal scrap – TSR can also manage the non-metal residualmaterials of its industrial customers and optimize their processes.

INDUSTRIAL SERVICES

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TSR is based in Bottrop, a city in the German state of North Rhine-Westphalia. TSR operates at 150 different business locations.

In addition to the excellent set-up in Germany, an important advantage for its customers,the TSR Group has numerous branches in the neighbouring European countries

as well as in Russia and China.

LOCATIONS

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The focus on secondary raw materials goes hand in hand with TSR philosophy which istargeted at sustainable and intelligent solutions.

COMPANY PHILOSOPHY:All employees and business partners are able to worktogether successfully, thanks to the four main principlesthat shape TSR corporate culture:

RespectOpen to changeIntegrity Trustworthiness

By playing an active role in international associations and societies (partners), TSR is followingthe goal of promoting the long-term conservation of natural resources and protection of theenvironment at global level:

• BIR – Bureau of International Recycling, Brussels• BDSV – German Association of Steel Recycling & Waste Management Companies, Düsseldorf• VDM - (Association of German Metal Traders)Federal Association of Non-Ferrous Metal Wholesalers and the

Non-Ferrous Scrap metal Recycling Industry, Bonn• ESN - (German Waste Management Association for Steel and Non-Ferrous Metals), Düsseldorf and Bonn• GZQ – (Accreditated Certification Service for Quality management systems and Environmental management

systems), Saarbrücken

SUSTAINABILITY

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SOCIAL COMMITMENTThe success of TSR and the high satisfaction levels of its customers canbe put down to the fact that the company always follows theprinciple of producing high quality products at fair prices.Being one of the leading scrap metal recycling businesses, TSR alsohas a responsibility towards society as a whole.It is precisely for this reason that TSR not only supports its employees

during all stages of their career but also demonstrate its social commitment by getting involved inlocal and global projects.

QUALITY, HEALTH, SAFETY AND ENVIRONMENTThe TSR Group has united its expertise in the areas ofquality, safety, health and environmental protection intoone division known as QSGU (in German: Qualität, Sicherheit, Gesundheit und Umwelt).Its aim is to ensure that all environmental and work safety regulations are successfully adhered toand, in addition, that TSR’s own stringent in-house standards are implemented at all of its locations.

SUSTAINABILITY

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RELIABLE, HIGH QUALITY WASTE MANAGEMENTWell trained staff, well organised processes and decades of know-how all guarantee that both TSR’swork and its products are always of a consistently high quality. This is confirmed by its certificates whichare issued to it at regular intervals in accordance with :

ISO 9001 for quality management systems,ISO 18001 for occupational safety management,the 'EfbV' (Ordinance on Specialised Waste Management Companies),the 'AltfahrzeugV' (German Ordinance on End-of-life Vehicles)the 'ElektroG' (Electrical and Electronic Equipment Act).

By looking at ways to develop the technology used at its facilities and by offering further training coursesto its employees and involving them in decision-making processes, the TSR Group not only ensuresthat the high quality standards found at its company are maintained but that they continue to beimproved.

HEALTH AND SAFETYIn 2011 TSR introduced an occupational safety management system intoall of its divisions, which is run in accordance with DIN EN ISO 18001(OHSAS) and provide a sound basis for sustainably reducing potentialrisks and hazards as well as for ensuring its employees remain fit and well.It also ensures TSR set ambitious targets and that suitable measures areintroduced, such as involving its employees in all decisions concerningwork safety – helping to strengthen and promote staff awareness of healthand safety issues at work.

SUSTAINABILITY

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ENVIRONMENTAL PROTECTIONProtecting the environment is at the top of the list ofthe TSR Group’s priorities alongside its commitmentto offering quality products and making sure itsemployees remain safe and healthy.

Simply by carrying out the TSR Group’s businessmission – i.e. systematically closing material life cycles– TSR is helping to protect valuable natural resourcesand reduce climate-damaging greenhouse gases.

SUSTAINABILITY

In order to fulfill the responsibility of ensuring that future generations will also be able to enjoy aclean, health environment, TSR looks to sustainably promote recycling and the conservation of ournatural resources as well as to improve energy efficiency to reduce energy consumption, both at itsproduction facilities and when providing its services.

One of the primary ways to reduce energy consumption is to procure and use energy-efficientfacilities and machinery and to employ them in the most efficient way. In addition, suitable measureshave been introduced so that the way its employees work also plays a major role in saving energy andminimizing running costs.

All TSR’s actions are guided by its commitment to fulfil all environmental regulations.ALFA ACCIAI’s actions are also driven by the same commitment!

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TSR'S EXECUTIVE MANAGEMENT TEAM

SUPERVISORY BOARD