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Leading Fiber Innovation

AUSTRIAN DAY PRESENTATIONNovember 20, 2012

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The information contained in this document has not been independently verified andno representation or warranty expressed or implied is made as to, and no relianceshould be placed on, the fairness, accuracy, completeness or correctness of thisinformation or opinions contained herein.

Certain statements contained in this document may be statements of futureexpectations and other forward looking statements that are based on management‘scurrent view and assumptions and involve known and unknown risks anduncertainties that could cause actual results, performance or events to differmaterially from those expressed or implied in such statements.

None of Lenzing AG or any of its affiliates, advisors or representatives shall have anyliability whatsoever (for negligence or otherwise) for any loss howsoever arising fromany use of this document or its content or otherwise arising in connection with thisdocument.

Certain figures in this presentation have been rounded in accordance with commercialprincipals and practice. Such figures that have been rounded in various tables maynot necessarily add up to the exact total given in the respective table.

Disclaimer

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Global fiber market at a glanceLong-term share synthetic fibers ~ 60% : natural fibers ~ 40%

Source: The Cellulose Gap, Gherzi, February 2011

Natural Fibers& NaturalPolymers

Cotton31.2%

MMC fibers6.0%

Synthetic fibers61.3%

Wool1.5%

79.1 mn tons

man-madecellulose fibers Viscose/Rayon Modal TENCEL®/Lyocell

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Where our fibers end upLadies wear – close to skin

Cowl neck tee USD 39.50 TENCEL® / Spandex

Lightly padded bra top maxi dress USD 79.50 Ecosil® Lenzing Modal® / Spandex

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Vintage flare jeans USD 98.00 100% TENCEL®

Five pocket skinny jeans USD 240.00 Lenzing Modal® / TENCEL® /

Cotton / Elastane

Where our fibers end upSoft denim – can be sold in retail with a high premium

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Where our fibers end upUSA’s leading baby wipe – TENCEL® inside

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Lenzing at a glanceGlobal market leader in producing man-made cellulosic fibers

Growth opportunity through 3 mega-trends leading to the cellulose gap

Global market leader in producing man-made cellulosic fibers (MMCF)

22% market share Innovation, technology and quality leader

Cost leader

Double digit growth profile over last 11 years

Global presence (production/sales/marketing) and expansion

Solid financials

Equity ratio1: 48.5%

Net gearing1: 25.6%

Total liquidity cushion1: EUR 561 mn1) as at September 30, 2012

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Growth opportunity: cellulose GapMMCF: Strong demand and limitations on cotton supply

PopulationGrowth

CAGR*) ‘11 – ’20:1.1%1

ProsperityCAGR*) ‘11 – ’20:

2.4%2

Sustainability/climate change

Cotton

Man-madeCellulosic

Fibers

SyntheticFibers

CelluloseGap

Fiber

Consumption

Shift in fiber

demand

Megatrends Input factor Supply trend

Arable land

Water

Wood

Oil

Cellulosic fibers

*) compound annual growth rate1) forecasted growth from UN Population Division2) forecasted growth of global real GDP per capita by Global Insight

1.

2.

3.

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Lenzing

22%

Grasim3

10%

Fulida

10%

Aoyang

6%Helon

5%

IndoBharat3

6%Tangshan

6%

Thai Rayon3

4%

Others

30%

Sateri

3%

Lenzing with 22% share of production1

Source: FEB, Trade statistics, Company estimates

1) production China: based on 65% utilization (CCFA)2) based on latest available company information from company websites and annual/interim reports3) direct or indirect non-controlling shareholdings by private Indian conglomerate Aditya Birla; marketing of viscose stables fibers under

the “Birla” umbrella brand

Lenzing

17%

Fulida

11%

Grasim3

8%

Aoyang

6%Tangshan

6%Helon

6%IndoBharat3

4%

Sateri

3%

Thai Rayon3

3%

Others

36%

Lenzing with 17% share of capacities2

Lenzing is the global market leaderViscose staple fiber market

3.23 mn tons 4.68 mn tons

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Lenzing is the innovation leaderIndustry leading R&D spend

As of December 2011, Lenzing ownedapprox. 1,300 patent applications andpatents in 57 countries belonging to218 patent families

All significant patents are filed andmaintained in Asia, the EuropeanUnion and the Americas

The majority of the patent portfoliofocuses on lyocell technology(TENCEL®)

As of December 2011, Lenzing ownedapprox. 1,400 trademark applicationsand trademarks in 95 countriesbelonging to 112 trademark families

Source: LAG

R&D expenses (2000-2011) Intellectual property

0

5

10

15

20

25

30

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

0

0,5

1

1,5

2

2,5

3

R&D expenses R&D as % of sales

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Lenzing is the cost leaderThrough pulp integration and long-term pulp supply contract

Long-termContract

46%

VerticalIntegration

47%

Other/Spot

7%

Pulp is the key cost driver with 42% share of total costs of material and purchased services

90+% of long-term pulp supply secured through own production (vertical integration) and long-term supply contracts

Long-term contract linked to paper pulp index (not to spot price of dissolving pulp) plus applicable premium

Source: Lenzing

Indicative spot pulp procurement costvs. vertical integration5

1) cost structure based on cost of materials and purchased services amounting to 322.0 EUR mn in Q3/20122) including wood3) other includes trading goods, other raw materials, packaging, auxiliary material4) data refers to sourcing of pulp used in a quarter, including inventory build-up. Paskov volumes included under vertical integration5) assuming spot price of $1,000 per metric ton

Source: Lenzing

Cost structure LenzingGroup (Q3/2012)1

Lenzing Group pulpsourcing (Q3/2012)4

Dissolvingpulp2

42%

KeyChemicals

14%

Energy

12%

Other 3

32%

0%

20%

40%

60%

80%

100%

Spot Lenzing site(vertical integration)

12

70

364

0

100

200

300

400

2000 2011

108

480

0

100

200

300

400

500

2000 2011

334

705

0

100

200

300

400

500

600

700

800

2000 2011

599

2,140

0

500

1000

1500

2000

2500

2000 2011

Double-digit growth profileLenzing has managed growth successfully in the past

Fiber production

(1,000‘s metric tons)

CAGR7.0%

CAGR16.2%

CAGR12.3%

CAGR14.5%

Total external sales1

(EUR mn)

EBITDA1

(EUR mn)

EBIT1

(EUR mn)

1) 2000 based on US GAAP; 2010 based on IFRS

Double-digit growth p.a. over last 11 years

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Capacity expansion to 2015Accelerating the fiber expansion in the future

Total pulp capacityCAGR 23.9%

ChinaCAGR 15.6%

IndiaUSACAGR 28.8%

IndonesiaCAGR 7.9%

Europe1

CAGR 4.7%

Total capacity at

year endCAGR 11.4%

Annual capacity in ‘000 metric tons

Dissolvingpulp capacity

Paskovdissolvingpulp capacityPlannednew pulpplant

150 110 110

100 140 140

100 170 170350

420 420

2011 2014e 2015e

530640 655 605

765

100100 100 140

140

140150 160 220

280

100

215

770

965

1,185

2011 2013e 2014e

140 170250

2011 2014e 2015e

80

2011 2014e 2015e

240

320 325 325 325

2011 2014e 2015e

289

2011

320 320

50

240 240

c.240

339

560

c. 800

2013

e20

14e

2015

e

2012e 2013e

2012e 2013e

2013e2012e

2012e 2013e

2012

e 2015e2012e

100

160

100 110

100

150

350 370

2011 2014e 2015e2012e 2013e50

300

110

410

890 915

170170

40 50 50

110

50

1) includes Lenzing, Heiligenkreuz and Grimsby

300

240

540

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Outlook FY 2012Unchanged – driven to the low end by weaker Q4

approx. 22-24%Tax rate

Outlook 2012

Sales approx. EUR 2.10 – 2.15 bn

EBITDA approx. EUR 350 – 400 mn

EBIT approx. EUR 240 – 290 mn

Sales volume approx. 810 k tons

Capex approx. EUR 325 mn

Dividend policy approx. 25% of consolidated net

income

* EPG: European Precursor GmbH – joint venture with SGL Group for the production of carbon precursor

August guidance for FY: “High endif no change in Q4 – low end ifpricing deteriorates from Q3”

Lower Q4 average fiber price expected:approx. EUR 1.85 (Q3: EUR 1.95) per kg

Q4 one-off caused by potential EPG* wind-up:EBITDA: EUR -5 mn to -10 mnEBIT: EUR -20 mn to -25 mnNet income: EUR -10 mn to -15 mn

Line 5 (Indonesia): Production startedsuccessfully on October 29

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Contacts and financial calendar

Investor Relations contact

Stephanie KniepHead of Investor Relations

Phone: +43 7672 701 2047

Fax: +43 7672 918 4032

E-Mail: s.kniep@lenzing.com

Visit our IR website:http://www.lenzing.com/en/concern/investor-center.html

Financial calendar 2013

Full year results March 22, 2013

69th Annual General Meeting April 24, 2013

Results 1st quarter May 8, 2013

Half year results August 21, 2013

Results 3rd quarter November 14, 2013

Financial calendar