EANS-Adhoc: RHI announces Management Board changes

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Personnel 23.06.2017

Vienna - After a period of planning and assessment for the planned merger between RHI and Magnesita, RHI announces the intended structure and composition of the future management team of the joint company "RHI-Magnesita" (post closing the transaction):

The EXECUTIVE MANAGEMENT TEAM (EMT) of RHI-Magnesita will be led by CEO, Mr. Stefan Borgas, who is currently member of the Management Board of RHI and its CEO.

Mr. Octavio Lopes, currently CEO of Magnesita, will become the Chief Financial Officer (CFO) of RHI-Magnesita.

Mr. Gerd Schubert, currently member of the Management Board of RHI responsible for operations, will become the new Chief Operating Officer (COO) of the joint company.

Mr. Reinhold Steiner, currently member of the Management Board of RHI responsible for worldwide sales to steel markets will become the new Chief Sales Officer (CSO) of RHI-Magnesita.

Mr. Luis Rodolfo Bittencourt, currently Executive Vice President responsible for research, development and mining operations at Magnesita, will become the new Chief Technology Officer (CTO) of RHI-Magnesita.

Further members of the RHI-Magnesita EMT will be Mr. Thomas Jakowiak (responsible for the integration of the two companies), Mr. Luis Rossato (responsible for Corporate Development) and a new Head of Human Resources still to be nominated.

The new EMT of RHI-Magnesita will be effective after closing of the transaction, which will probably be in early November 2017. Until then both companies will continue to operate separately with their existing management teams.

Mrs. Barbara Potisk-Eibensteiner, currently member of the Management Board of RHI and the company's CFO, will leave RHI at her own request as of August 31st, 2017 in order to pursue other opportunities. Mrs. Potisk-Eibensteiner has been CFO of RHI since 2012 and has significantly contributed to RHI's development and financial performance during this period. The Supervisory Board of RHI would like to thank Mrs. Potisk-Eibensteiner for her energy and contributions during this time and wish her success in her new role.

Under current planning, Mr. Stefan Borgas (CEO) will take over the CFO responsibilities for the interim period until closing of the merger with Magnesita after Mrs. Potisk-Eibensteiner has left RHI.

Further inquiry note: RHI AG Investor Relations Mag. Simon Kuchelbacher Tel: +43-1-50213-6676 Email: simon.kuchelbacher@rhi-ag.com

end of announcement euro adhoc =-------------------------------------------------------------------------------

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   June 23, 2017 11:59 ET (15:59 GMT)- - 11 59 AM EDT 06-23-17