Uncertainties stemming from legislation

      The COVID-19 pandemic may yet cause individual jurisdictions to take a variety of statutory steps that would affect production parameters and the ability of voestalpine AG’s affected subsidiaries to act in a commercial capacity. At this time, however, such a scenario is rather unlikely, given the development of the pandemic worldwide and the gradual reversal of related measures that were put in place by law in various countries. However, the aforementioned adverse effects may also result from additional sanctions and/or embargoes imposed in connection with the Ukraine war as well as geopolitical conflicts. This may lead to additional restrictions across the entire European Economic Area (EEA) and/or in the global economy and, in turn, trigger yet more ramifications that are hard to predict. Changes in legislation may generally lead to changes in both production parameters and purchasing behavior.