The 2nd Annual

Battery Materials Business

VALUE DAY
Disclaimer

This presentation contains certain forward-looking statements relating to the business, financial performance and results of
the company and/or the industry in which it operates. The forward-looking statements set forth herein concern future
circumstances and results and other statements that not historical facts, and are solely opinions and forecasts which are
uncertain and subject to risks. Therefore, the recipients of this presentation shall be aware of that the forward-looking
statements set forth herein may not correspond to the actual business performance of the company due to changes and risks
in business environments and conditions.

The sole purpose of this presentation is to assist persons in deciding whether they wish to proceed with certain investments to
the company. The company does not make any representation or warranty, expressly or impliedly, as to the accuracy and
completeness of this presentation or of the information contained herein and shall not have any liability for the information
contained in this presentation.

1
01 Opening Ki-Seop Jeong CSO
Remarks Chief Strategy Officer & President, POSCO Holdings

2
Pushing Ahead with Growth Strategy and Accelerated Restructuring

Argentina HY CLEAN METAL Lithium Solution

100% 71% 53% 60% 100% 82% 65% 100%

Unlisted Listed Unlisted Listed Unlisted Unlisted Unlisted Unlisted

3
As Leading Global Provider of Eco-Friendly Future Materials,
POSCO Group Delivers Sustainable Future

Build with future technology

Steel Lithium/Nickel LiB Materials Energy

Apply to future industry

Contribute to creating value

Construction / Hydrogen Agri-Bio
for eco-friendly future Infrastructure

4
 EV Battery Material Business EV Battery Material Business
Previous
Early Growth Take-Off
100%
Eco-friendly
14.8 17.3 14.9
infrastructure
POSCO Group Invests 13.6

for Future Growth 20.8

46.2 LiB materials

CAPEX Breakdown by Division 50%

(Unit: %, Consolidated basis)
71.6
61.9

38.9 Steel

(Unit: %)

'16 - '18 '19 - '22 '23 - '25

5
 20 Trillion won 18.7 60%

49.1%
Improved Financials
Provide Ample Room
for Investment Cash & Cash Equivalents

Net-debt-to-equity ratio

10 Trillion won 30%

POSCO Group’s net debt-to-equity ratio
and changes in cashable asset
(Unit: Trillion won, %, consolidated basis)

9.5%

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
* POSCO Holdings’ 2022E net cash W2.6tn, unconsolidated
6
 Focused investment to obtain global foothold Substantive profit generation

62 Trillion

Speeding Up 43 Trillion
Investment for
10 Trillion won
Next 3 Years to Secure Revenue

Market Dominance 16 Trillion Capex

5 Trillion won
LiB Material Business CAPEX
and Revenue Outlook
(Unit: Trillion won)

2023 2024 2025 2026 2027 2028 2029 2030

* Before inter-company adjustment
7
Key Roadmap of LiB Materials Business

Anodes Cathodes Year One of EBITDA EBITDA

Business Commercial to exceed to exceed
Business Lithium Production 3 Trillion won 10 Trillion won
Commenced Commenced

2010 2011 2023 2025 2028

8
 2,564

POSCO Holdings Will 2,333

KOSPI

2,108
Continue to Make Efforts 71 Trillion won
to Maximize Shareholder 7
Other
POSCO International

Value
POSCO Future M
POSCO Group’s Combined Market Cap Trend
31 Trillion won 27

(Unit: Trillion won, KOSPI)

22 Trillion won 2

8
2
5 33 POSCO Holdings

20
15
(Unit: Wtn)

3 Years Ago 1 Year Ago As of June 2023

9
Create Environmental Values through Eco-Friendly Production

Reduce CO2 Emission Expand Recycling

Minimize CO2 emissions from mining and processing to Build recycling system including used battery
final production to provide eco-friendly materials collection for environmental competitiveness

Collect Used Produce

Mining Processing Production EVs
Batteries Recycled
raw minerals

Eco-Friendly
Batteries

10
Create Social Values Through Virtuous Cycle of Technology Leadership – Talent Development

Develop Future Technology R&D Strategy Build Knowledge Ecosystem

POSCO N.EX.T Hub

Develop R&D Ecosystem through

Channel Group’s R&D capacity industry-academia research
into LiB materials collaboration
POSCO Group
R&D Ecosystem

R&D Commercialization
Lead Next Generation battery Continued supply into talent
material technology pool for LiB materials business

11
Continued shareholder returns by achieving balance between growth and stable dividend
payout
Total Shareholder Return Ratio
47%
Historic high shareholder returns 39%
under medium-term dividend policy 19%

('20~'22) Total Shareholder Return Amount

1,478
(Unit: Billion won)

3.4
(29.8%) 1,286 Treasury
stock
retirement

trillion won 620

Dividend

2020 2021 2022

12
Continued shareholder returns by achieving balance between growth and stable dividend
payout

'23~'25 Shareholder Return Policy

Secure growth potential as leading supplier Responding to expectations of long-term

of eco-friendly future materials investors with sustainable dividend

Shareholder return fund Basic Dividend Remaining fund

50~60% of non-consolidated 10,000 won Additional payout

annual free cash flow per share post basic dividend payout

13
Leading Supplier of
Eco-Friendly Future Materials

14
02 Business Strategy
Growth to Become
Global Battery Materials Kyung-Sup Lee, EVP
Head of Battery Materials Business, POSCO Holdings
Business Leader

15 15
Market Environment
Growing Attention on Korean Li-Ion Battery Industry With Recent Trade Regulations and Changes
in Geopolitical Environment

Well positioned to adjust

EU
to upcoming changes
USA CRMA
IRA
KOREA Production facilities for
key battery materials
(lithium, nickel) in place

Our strong supply network

is the only Ex-China
solution

16
Market Environment
Next 3 years to be essential period for supply chain building

EV market to continue steady growth until 2030 Increased investment into high profit raw minerals
Global Automobile and EV Market Forecast Li-ion Battery Value Chain Value-Add
(Unit: Hundred thousand vehicles)
Automobiles
873 878
870

Value-Add
847 859 864
822 833 Smile Curve
CAGR
17%

483
424 (55%)
368
315
EV 266 (36%)

220
168 (26%)
137
System Value-Added
(17%) Materials Parts Products
Processes Products

Mines Smelting Refining Precursors Cathodes & Anodes Batteries EVs

* Source : SNE Research('23.3.)

17
Business Vision

Global Leader of Full Value chain

Battery Materials by 2030 Total solutions provider
from key minerals to active materials

Quantitative Growth Qualitative Growth

Enhanced cathode and anode active materials Expanding product portfolio and accelerating
capacity and focused investment into lithium technology development through R&D triangle of
and nickel for high profit margin POSCO N.EX.T Hub – POSTECH – RIST

18
Business Goals
Investments for Global Leadership & Upward Adjusted 2030 Growth Targets

2030 Capacity Target As of 2022 As of 2023 (Unit: kilo ton)

62 Trillion won

2030 Revenue Goal

+123
+390
+50
+20
1,000 +2.1

15 Trillion won

2030 EBITDA 300

423
240 610 320
370

9.4
220
* 2030 Goals announced in ’22 70 70 7.3
Revenue KRW 41tn, EBITDA KRW 11tn

Lithium Nickel Recycle Cathode Anode Next-Generation

※ Before inter-company adjustments. Nickel target includes 70kt secured from precursor JV

19
 Battery Materials
Business Next-
Li Ni Recycle Cathode Anode
Progress & Generation

Achievements

20
Li Progress & Achievements

1st Value Day ('22)

2022.08 2022.10 2023.06

Acquired salt lake in Argentina ('18)

#1 Plant P-Pilbara Lithium Solution P-Argentina Phase 1 P-Argentina Phase 2 P-Lithium Solution
#2 Plant
construction begins construction begins breaks ground breaks ground
(Ore lithium, 43ktpa) (brine lithium, 25ktpa) (upstream brine lithium, 25ktpa) (downstream brine lithium, 25ktpa)

Broke ground for P-Pilbara Lithium Solution ('21)

※ Equity Ownership: P-Pilbara Lithium Solution (POSCO Holdings 82%, Pilbara Minerals 18%), P-Argentina & P-Lithium Solution (POSCO Holdings 100%)

21
 Ni Progress & Achievements

1st Value Day ('22)

2023.04 2023.06

Project kickoff to convert to battery-grade nickel at SNNC ('21)

JV with pyrometallurgical processing plant JV with CNGR for domestic JV with hydrometallurgical processing plant
in Indonesia approved refining / precursor in Indonesia approved
(matte, 52ktpa) (high-purity nickel, 50ktpa) (MHP, 62ktpa)

Acquired stake in nickel mining and smelting company, RNO ('21)

※ Equity Ownership: Pyrometallurgical plant in Indonesia (POSCO Holdings 49%, partner company 51%), domestic refining (POSCO Holdings 60%, CNGR 40%),
precursor (P-Future M 20%, CNGR 80%), hydrometallurgical plant in Indonesia (POSCO Holdings 20%, partner company 80%)

22
Recycle Progress & Achievements

1st Value Day ('22)

2022.08 2022.10 2022.12 2023.05

Upstream recycle plant broke ground ('21)

Upstream recycle JV agreement Downstream recycle Production of recycle

plant completed with GS Energy plant completed product began
(Poland PLSC) (POSCO GS Eco Materials) (POSCO HY Clean Metal) (lithium, nickel, cobalt, etc.)

Downsgream recycle plant broke ground ('21)

※ Equity Ownership: PLSC (POSCO Holdings 100%), P-HY Clean Metal (POSCO Holdings 65%, Huayou Cobalt (China) 35%)

23
Cathode Progress & Achievements
2022.07 2022.11 2023.01 2023.04 2023.06
1st Value Day ('22)

Gumi Plant
NCA Cathode Plant
9.6kt
broke ground in Pohang
Ultium Cells World’s largest Samsung SDI Canadian JV (Ultium CAM)
NCMA cathode cathode plant supply contract announced
Gwangyang supply contract completed (approx. KRW 40tn, ’23~’32) capacity increase
Plant
(approx. KRW 14tn, ’23~’25) (standalone basis) (cathode 33kt, precursor 45kt)
90kt
(Under construction)

Pohang Plant LGES NCM(A) Cathode

supply contract
30kt (approx. KRW 30tn, ’23~’29)
(Under construction)

Signed KRW 106 trillion in cathode materials order agreements

24
Anode Progress & Achievements

1st Value Day ('22) 2022.12 2023.04 2023.06

Sejong Plant
(natural)

71kt

Incorporated P-Silicon Solution

Ultium Cells P-INTERNATIONAL Artificial graphite P-Silicon Solution

Pohang Plant artificial graphite anode flake graphite anode material broke ground
(artificial) (450tpa)
material supply contract off-take agreement product launched
8kt (approx. KRW 0.9tn, ’23~’28) (BRM, 35ktpa)

※ Equity Ownership: P-Silicon Solution (POSCO Holdings 100%)

25
 N
C
R
ANi
Li ext-
node
athode
ecycle Progress & Achievements
Generation

1st Value Day ('22)

2022.07 2022.10 2022.12 2023.05 2023.06

Equity Investment
in CVC Fund
Incorporated P-JK Solid Solution with Korea’s No.1 Solid Electrolyte company ('22)

Joint research agreement P-JK Solid Solution Lab-stage development Partnership with SKC ※ NEBA Lithium Solution ('23.6)
With Prologium production line completed for lithium metal on broad collaboration
(24 tpa) anode completed for next-generation batteries

Equity investment into Prologium, All-Solid-State battery maker ('22)

※ Equity Ownership: P-JK Solid Solution (POSCO Holdings 40%, Jeong Kwan 60%)

26
 Battery
Materials
Li Ni Recycle Cathode Anode Next-
Business Generation

Strategies

27
 Li Ni Recycle Cathode Anode N ext-
Generation

brine
Successful market entry Canada
Capacity expansion with Argentina salt lake
(Lithium hydroxide 100kt)
with existing investments
made in salt lake and mines. North Ore
America
Capacity expansion through collaboration
with llthium mines in Australia / Canada
Business expansion (lithium hydroxide 220kt)

by utilizing unconventional
Investing in unconventional resources
resources
Additional procurement of unconventional minerals in
Australia N. America, i.e.,oilfields, geothermal sources, clay
(lithium hydroxide 70kt)

Argentina

28 28
 Li Ni Recycle Cathode Anode N ext-
Generation

Early completion of brine lithium capacity of 100,000 tons in Argentina by 2027, made possible by integrating phases 3 & 4

Phase 3
Phase 2
Phase 1

+25,000 tons +50,000 tons

25,000 tons
Construction period : '22~'24 Construction period : '23 ~ '25 Construction period : '25 ~ '27

25,000 tons 50,000 tons annually 100,000 tons annually

annually (cumulative) (cumulative)

29
Li Ni Recycle Cathode Anode N ext-
Generation Business Roadmap

Ore lithium production start

(POSCO Pilbara Lithium Solution)
Brine lithium phase 1 completion
(POSCO Argentina, 25ktpa)
Ore lithium
phase 2&3 completion
Secure 103 kilotons
(60ktpa)
of Ore lithium
and 50 kilotons of
2023.10 2024.2 2024.4 2025.6 2026

Ore lithium completion Brine lithium phase 2

brine lithium by 2026
(POSCO Pilbara Lithium Solution, 43ktpa) upstream completion
(POSCO Argentina, 25kt)
Brine lithium phase 2
downstream completion
(POSCO Lithium Solution, 25kt)

30
Li Ni Recycle Cathode Anode 차세대
2030 Business Goals

(Unit: kiloton) (Unit: KRW trillion)

Production Capacity Revenue / EBITDA
Revenue EBITDA
+1.9
+123

Achieve 423 423

13.6

kiloton capacity +0.2

by 2030, 300
11.7

To emerge as 166
3.5
8.3
8.5

Global Top 3 96
1.3
2.7

71
lithium producer Prev
('22)
New
('23)
Prev New
('22) ('23)
Prev
('22)
New
('23)

2024 2025 2026 2030 2024 2025 2026 2030

※ Including 30kt of lithium capacity through recycle
※ Before inter-company adjustments. Revenue and EBITDA from recycle not included
※ Assuming 18 months’ ramp-up period and gradual increase in capacity utilization
※ Assuming 1 year certification period, during which time price assumed to be 70% of
normal. price. Based on lithium price U$30,000/t, USD/KRW 1,235
31
Li Ni Recycle Cathode Anode N ext-
Generation

Diversified Nickel Sourcing

For a Stable Cathode Supply Network
Expedite procurement of nickel
intermediate material
(Nickel Matte, MHP)

Additional procurement of
low carbon minerals with new
hydrometallurgical
Brazil
processing technology

Nickel supply with economic value

From Indonesia – Products with
better cost advantage
From outside Indonesia – IRA Indonesia
compliant, premium product New Caledonia

Australia
32
Li Ni Recycle Cathode Anode N ext-
Generation Business Roadmap

Ni Matte plant completion CNGR JV refining plant completion (Pohang, 50kt) PJT on New Hydrometallurgical
(Gwangyang Dongho Bay, 20kt)
Pyrometallurgical processing JV plant completion (Indonesia, 52kt) Processing Technology
(Brazil, Philippines, etc.)
Secure 140 kilotons
of High-Purity Nickel
by 2026
2023.10 2023.12 2025.11 2025.12 2027~

High-Purity Nickel refining Hydrometallurgical processing JV * Including Recycle / Precursor JV

plant completion plant completion
(Gwangyang Dongho Bay, 20kt) (Indonesia, 62kt)

33
 Li Ni Recycle Cathode Anode N ext-
Generation 2030 Business Goals

(Unit: kiloton) (Unit: KRW trillion)

Production Capacity Revenue / EBITDA
Revenue EBITDA
+20
240 kilotons of nickel 4.2

by 2030, 3.8
240
positioned to
become a leading 220 1.1

eco-friendly 143
0.7

high-purity nickel 79 0.5

0.8

provider 0.3
41 Prev New Prev New Prev New
('22) ('23) ('22) ('23) ('22) ('23)

2024 2025 2026 2030 2024 2025 2026 2030

※ Including 70kt secured through precursor JV and 30kt added by recycle in 2030 ※ Before inter-company adjustments. Revenue and EBITDA from precursor JV
and recycle not included ('23. New Goals)
※ Based on nickel price U$20,000/t, USD/KRW 1,235
34
 Li Ni Recycle Cathode Anode N ext-
Generation

The recycle market is expected to pick up speed; we are prepared to stay ahead by localizing upstream & downstream processes and
developing new technologies

recycle Market Growth First to Build recycle Ecosystem Global hubs formed by localizing upstream & downstream processes
(Battery Plant Scrap/Used Batteries and Nickel Production Volume) (Closed Loop)
HUB : Downstream Spoke : Upstream

Used Batteries Minerals (Li, Ni) Recycled

minerals

Scrap from Plant 2.5

Recycled Ni
Precursors
(Unit: million ton)
1.7
24.7
1.3 recycle
0.9
Cathode
15.8 New Dry Reduction
0.4 Technology
10.7 Batteries
(Battery makers) Scrap
from plants
6.5

Used
2
2.5 2.5 2.5 batteries
1.4 2 EVs
2030 2033 2035 2037 2040

35
Li Ni Recycle Cathode Anode N ext-
Generation Business Roadmap

Europe recycle Phase 2 Expand hubs & spokes

upstream completion in the U.S. and Europe Secure 12.5kt of lithium,
12.5kt of nickel and
2H 2025 2H 2026 2027~
4kt of cobalt by 2026
Europe recycle Phase 2 recycle Phase 2
downstream complete downstream complete
(Ni 5kt) (Ni 5kt)

36
 Li Ni Recycle Cathode Anode N ext-
Generation 2030 Business Goals

(Unit: kiloton) (Unit: KRW trillion)

Production Capacity Revenue / EBITDA
Revenue EBITDA

70 70 2.2

First to build
the battery
30
Lithium

recycle
30

ecosystem.
29
Nickel 0.6

0.2 0.2 0.2

6 6 Prev New
10
('22) ('23) Cobalt

2024 2025 2026 2030 2024 2025 2026 2030

※ Before inter-company adjustments.
※ Based on lithium price U$ 30,000/t, nickel price U$20,000/t, USD/KRW 1,235

37
 Li Ni Recycle Cathode Anode N ext-
Generation

Pushing to achieve both qualitative and quantitative growth; diversifing product portfolio to meet growing customer
needs

LFP NCA

LLO Entry-Level Cars Premium Cars

NCM

Qualitative Growth Diversified Portfolio Quantitative Growth

Strengthen investment competitiveness Increase market dominance Expand capacity through diverse customer base
by integrating domestic production base and cost reduction through diversified products

38
Li Ni Recycle Cathode Anode N ext-
Generation Business Roadmap

Cathode Phase 1 Cathode Phase 2

in Canada complete in Canada complete
(Ultium CAM, Quebec, 30kt) (30kt)

Build 445kt*
capacity for
2023. 8 2024.9 2025.1 2025.4 2025.7
cathode by 2026
Pohang Pohang Pohang Gwangyang
cathode cathode cathode cathode
phase 1 phase 2-1 phase 2-2 phase 5 * 350kt in Korea, 60kt in N. America,
complete complete complete complete 35kt in China, etc.
(30kt) (30kt) (45kt) (55kt)

39
Li Ni Recycle Cathode Anode N ext-
Generation 2030 Business Goals

(Unit: kiloton) (Unit: KRW trillion)

Production Capacity Revenue / EBITDA
Revenue EBITDA +15.2
+390

Global top-tier 1,000

36.2

provider with 1 610

21.0
+1.7
14.6
million ton 11.7
7.9

capacity by 2030 445

3.3
395

215 1.6
Prev New Prev New Prev New
('22) ('23) ('22) ('23) ('22) ('23)

2024 2025 2026 2030 2024 2025 2026 2030

※ Before inter-company adjustments.

※ Based on USD/KRW FX 1,235

40
 Li Ni Recycle Cathode Anode N ext-
Generation

Aiming to provide all products associated with anode: natural graphite, artificial graphite and silicon.

Natural Graphite Artificial Graphite Silicon

Internalize entire process for customers in N.America Build know-how from domestic production Be first to manufacture and market;
(flake graphite off-take, spheronizing performed in-house) before expanding overseas Achieve cost competitiveness
through advanced production technology

41
Li Ni Recycle Cathode Anode N ext-
Generation Business Roadmap

Future M

Si-C DP complete Artificial Graphite SiOx Anode Artificial Graphite N. America

(POSCO Future M, 50t) phases 1-2 complete phase 2 complete phase 1 complete
(POSCO Future M, 10kt) (POSCO Silicon Solution, 5kt) (40kt)
Reach 218kt*
capacity of anode
2024. 3 2024.5 2024.8 2025.12 2026.3 2026.9 2026.12 by 2026
SiOx Anode Natural Graphite Si-C Anode
phase 1 complete phase 3 complete phase 1 complete * 154kt in natural, 58kt in artificial
(POSCO Silicon Solution, 450t) (POSCO Future M, 30kt) (POSCO Future M, 1kt)
and 6kt in silicon anode.

42
Li Ni Recycle Cathode Anode N ext-
Generation 2030 Business Goals

(Unit: kiloton) (Unit: KRW trillion)

Production Capacity Revenue / EBITDA
Revenue EBITDA
+50 +2.3

Sustain world 5.2

No.1 position ex-

370

China, with 370

182
320 Natural +0.9
Graphite 2.9

kiloton capacity 221 0.9

1.4
1.4

by 2030
153
Artificial 0.7
134
Graphite
93 0.5
Prev New 35 Prev New Prev New
('22) ('23) Silicon ('22) ('23) ('22) ('23)

2024 2025 2026 2030 2024 2025 2026 2030

※ Before inter-company adjustments.

※ Based on USD/KRW FX 1,235

43
 Li Ni Recycle Cathode Anode N ext-
Generation

First-Mover in the Next-Generation Battery Industry

All-Solid-State Batteries

Earlier Commercialization of All-Solid-State Batteries Lithium Metal Anode

452
(2030→2027) POSCO’s plating technology applied for mass production
357
(Unit
(Unit:: Ten thousand
thousand vehicles
vehicles, / kiloton)
kiloton)
294

Solid Electrolyte
192
Gradual capacity expansion to ensure stable operation
84 (24t → 40t → 7.200t)

All-solid-state batteries

48 61
Li-ion Battery Evs
40
11 16

Solid electrolyte

(20%)
New Batteries
Lithium metal anode (13%) (16%)
(10%)

‘30 ‘33 ‘35 ‘37 ‘40

Inorganic growth via new businesses,
i.e., SIB, Li-S
* Source : SNE Research(‘23.3.), BCG, POSCO Group

44 44
Li Ni Recycle Cathode Anode N ext- Business Roadmap
Generation

POSCO JK Solid Solution

Building the
All-Solid-State battery Build PP process for Solid Electrolyte phase 3 complete
materials verified by Prologium lithium metal anode (POSCO JK Solid Solution, 7,200t) next-generation materials
portfolio
through in-house
2022~ 2023~ 2027 2029
development projects
3 Key materials for All-Solid-State battery

Discovering Solid Electrolyte

and external
Ca
tho
Solid
Electr
Ano
de
new materials phase 2 complete open innovation
de olyte (POSCO JK Solid Solution, 240t)
through open innovation
(SiB, CNT, Li-S, etc.)
* Lithium metal anode, Si anode, etc.

45
Summary

Precursor Silicon

Nickel Cathode

Anodes Graphite

Recycle Lithium
Needle
coke

46
Summary

Precursor Silicon

Nickel Cathode

Cathode Anodes
Anodes Graphite

Recycling Lithium
Most Competitive Battery MaterialNeedle
coke
Player with All-Inclusive Portfolio
47
 Recycle Cathode
Gwangyang Pohang, Gwangyang

Together with
steelmaking, POSCO Lithium
Holdings is unrivaled as Hydroxide
Gwangyang

the eco-friendly future

materials provider. High-Purity
Anode
Nickel Pohang, Sejong
Gwangyang

48
 Canada
Cathodes

Poland
Recycle
United States
(Upstream) Lithium

Global Total Solutions Provider

of Battery Materials
Tanzania
Natural Graphite Mine

Argentina
Lithium Salt Lake

Australia, New Caledonia

Lithium and Nickel Mines

49