Long‑Term Refinancing Solution Signed

Ljubljana, February 27, 2026 - SIJ – Slovenska industrija jekla, d.d. hereby informs that together with its subsidiaries and affiliates (together the “Group”) has signed the Long Term Refinancing Solution (“LTRS”) with certain key existing bank lenders (“Existing Banks”) involving ca. EUR 330 million of gross committed debt. This marks an important step forward for the Group in strengthening its capital structure allowing management to focus on implementing operational transformation initiatives.

The Group signed the LTRS with a consortium of nine banks coordinated by Nova Ljubljanska banka d.d. (“NLB”) and expects the transaction to become effective over the coming weeks upon the satisfactory fulfilment of certain conditions precedent. The LTRS covers the majority of the Group’s existing bank debt providing significant benefits to the Group in the form:

• A more stable financial structure achieved through a common set of financial terms that take into consideration the challenges currently facing the European steel industry;
• An aligned and extended maturity date of 15 December 2028; and
• An improved amortisation schedule and flexible interest rate terms.

Once NLB, as Facility Agent under the LTRS, publishes the notice confirming the first drawdown under the LTRS has occurred, the last outstanding condition for giving effect to the amendments to the terms and conditions of the SIJ8 notes and the exchange of the SIJ8 notes for the SIJ9 notes will be satisfied.

At a time of persistent geopolitical and macroeconomic challenges, the successful signing of the LTRS is a positive signal of the Existing Banks’ continued support to the Group, being the largest steel producer in Slovenia and one of the major employers in the Gorenjska and Koroška regions, with ca. 3,600 employees.

The Group will continue to focus on the comprehensive operational transformation aimed at strengthening competitiveness, enhancing operational stability and increasing the long‑term sustainability of its business model leveraging its key strengths being: 

• European specialist steel producer with market-leading positions in select niche steel markets;
• Highly innovative producer of high-end stainless and speciality steel for technologically advanced applications across a diversified range of sectors, including the aerospace and energy industries;
• Integrated value chain in close proximity to major European manufacturing hubs; and
• Low-carbon footprint with production utilising Electric Arc Furnace technology.

In parallel the Group has also begun preparations for the process of seeking a strategic partner, who can help unlock access to new markets and deliver additional operational and technological synergies in an increasingly competitive and volatile global macroeconomic environment. Throughout this period of strategic transformation, the Group continues to enjoy the support of employees, trade unions, trade suppliers and the Republic of Slovenia as a minority shareholder, further underscoring its importance for the Slovenian economy. 

“The continued support of our key lenders confirms their confidence in the Group and its current strategy and enables us to manage the current market challenges while focusing on the operational transformation and the search for a strategic partner,” said Igor Malevanov, Member of the Management Board, Vice‑President and Chief Financial Officer

“At NLB, we have been supporting SIJ Group for many years and through various market cycles, and today’s agreement reflects our confidence in its long‑term potential. By coordinating the bank lenders and concluding the long‑term refinancing solution, we are establishing a stable financial framework that enables SIJ Group to continue its strategic transformation, maintain its role in the Slovenian industrial landscape, and further strengthen its position in demanding international markets,” said NLB d.d.

                                                                                                ---

SIJ – Slovenian Steel Group is one of Europe's leading producers of stainless steel and special steels. We are committed to global and European climate goals and operate in line with circular economy principles. With our steel and steel products, we are the right partner for facilitating the green transition in Europe. We confirmed our sustainability credentials by achieving certification to the stringent Responsible Steel standard in 2024. This positions us as one of the world's most responsible and sustainable steel producers. Our two largest companies are modern recycling steelworks, and our steel is recycled because it is made from steel scrap. With more than 3,600 employees, we are one of the largest employers in Slovenia and a pillar of the Slovenian steel sector. We are one of Slovenia's leading exporters. About 85% of our revenue is generated in foreign markets.

Find out more:

SIJ – Slovenska industrija jekla, d.d.

Mag. Sara Wagner, Head of Corporate Communications

Corporate Communications

Phone: +386 1 242 98 27

Mobile: +386 41 313 532

E-mail: sara.wagner@sij.si