[6-K] Ternium S.A. American Current Report (Foreign Issuer)

Rhea-AI Filing Summary

On 07/25/2025, First Busey Corp. (BUSE) director Karen M. Jensen filed a Form 4 disclosing two transactions. She purchased 2,500 common shares in the open market at $23.25, committing roughly $58k. She also received 230 dividend-equivalent rights that converted into deferred stock units at no cost. After these trades, direct ownership rises to 83,798 shares.

No derivative activity was reported and Jensen’s role remains “Director” only. The open-market buy is typically viewed as a vote of confidence, yet the dollar amount is minor versus BUSE’s ±$1.3 bn market cap. Overall, the filing is a moderately positive sentiment signal but not a material event on its own.

Insights

Securities Analyst

TL;DR: Small open-market buy adds marginally bullish signal; limited impact on valuation.

Jensen’s $58k purchase marginally aligns insider interests with shareholders and breaks the common pattern of director option exercises. Empirical studies show insider buys outperform sells, so even small transactions can predict near-term strength. However, the bought shares represent less than 0.03% of shares outstanding, offering negligible EPS influence. I treat the filing as a sentiment tailwind rather than a fundamental catalyst.

Corporate Governance Expert

TL;DR: Compliance intact; purchase supports board alignment but immaterial in scale.

The transaction follows Section 16 rules, with prompt disclosure and no complexity (no derivatives, no accelerated vesting). Purchase enhances perceived board alignment with minority holders. Still, board guidelines often encourage larger ownership stakes; an incremental 2,500 shares does little to alter overall governance risk. Impact therefore skews positive but remains low.

FORM 6 - K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a - 16 or 15d - 16 of

the Securities Exchange Act of 1934

As of 07/29/2025

Ternium S.A.

(Translation of Registrant’s name into English)

Ternium S.A.

26, Boulevard Royal - 4th floor

L-2449 Luxembourg

(352) 2668-3152

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F.

Form 20-F a Form 40-F __

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12G3-2(b) under the Securities Exchange Act of 1934.

Yes __ No a

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

Not applicable

The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended.

This report contains Ternium S.A.’s press release announcing second quarter and first half of 2025 results.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TERNIUM S.A.

By: /s/ Guillermo Etchepareborda        By: /s/ Sebastián Martí

Name: Guillermo Etchepareborda        Name: Sebastián Martí

Title: Attorney in Fact                Title: Attorney in Fact

Dated: July 29, 2025

Press Release

Sebastián Martí

Ternium - Investor Relations

+1 (866) 890 0443

+54 (11) 4018 8389

www.ternium.com

Ternium Announces Second Quarter and First Half of 2025 Results

Luxembourg, July 29, 2025 – Ternium S.A. (NYSE: TX) today announced its results for the second quarter and first half ended June 30, 2025.

The financial and operational information contained in this press release is based on Ternium S.A.’s operational data and consolidated condensed interim financial statements prepared in accordance with IAS 34 “Interim financial reporting” (IFRS) and presented in U.S. dollars ($) and metric tons. Interim financial figures are unaudited. This press release includes certain non-IFRS alternative performance measures such as Adjusted EBITDA, Cash Operating Income, Adjusted Net Income, Adjusted Equity Holders’ Net Income, Adjusted Earnings per ADS, Free Cash Flow and Net Cash. The reconciliation of these figures to the most directly comparable IFRS measures is included in Exhibit I.

Second Quarter of 2025 Highlights

SHIPMENTS - STEEL PRODUCTS

ADJUSTED EBITDA

ADJUSTED NET INCOME

3.7 MILLION TONS

$403 MILLION

$299 MILLION

SHIPMENTS - MINING PRODUCTS

ADJUSTED EBITDA MARGIN

ADJUSTED EARNINGS PER ADS

2.0 MILLION TONS

10%

$1.28

CASH PROVIDED BY OPERATING ACTIVITIES

CAPEX

NET INCOME

$1.0 BILLION

$810 MILLION

$259 MILLION

NET CASH POSITION

DIVIDENDS PAID

EARNINGS PER ADS

$1.0 BILLION

$353 MILLION

$1.10

Note: Figures compared to First Quarter of 2025.

1

Summary of Second Quarter of 2025 Results

CONSOLIDATED						2Q25			1Q25			DIF			2Q24			DIF						1H25			1H24			DIF
Steel Products Shipments (thousand tons)						3,719			3,857			-4		%	3,841			-3		%				7,577			7,735			-2		%
Mining Products Shipments (thousand tons)						1,980			1,791			11		%	1,496			32		%				3,771			2,920			29		%
Net Sales ($ million)						3,947			3,933			0		%	4,514			-13		%				7,880			9,292			-15		%
Operating Income ($ million)						199			132			51		%	371			-46		%				331			1,045			-68		%
Adjusted EBITDA ($ million)						403			322			25		%	545			-26		%				725			1,400			-48		%
Adjusted EBITDA Margin (% of net sales)						10		%	8		%				12		%							9		%	15		%
Provision for Usiminas Participation Acquisition Litigation ($ million)						(40)			(45)						(783)									(85)			(783)
Net Income (Loss) ($ million)						259			142						(743)									402			(252)
Equity Holders’ Net Income (Loss) ($ million)						215			67						(728)									282			(366)
Earnings (Losses) per ADS ($)						1.10			0.34						(3.71)									1.44			(1.87)
Adjusted Net Income ($ million)						299			188						40									487			531
Adjusted Equity Holders’ Net Income (Loss) ($ million)						251			108						(21)									359			340
Adjusted Earnings (Losses) per ADS ($)						1.28			0.55						(0.11)									1.83			1.73

Note:    Each American Depositary Share, or ADS, represents 10 shares of Ternium’s common stock. Results are based on a weighted average number of shares of common stock outstanding (net of treasury shares) of 1,963,076,776.

Second Quarter of 2025 Highlights

Ternium’s Adjusted EBITDA Margin rose sequentially to 10% in the second quarter, primarily driven by higher realized steel prices, mainly in Mexico. Sales volumes of steel products declined slightly sequentially, largely due to lower shipments in Mexico and the US, partially offset by higher shipments in Argentina. The uncertain business climate in Mexico related to trade discussions weighed on local steel demand in the period. Sales volumes in the country were also affected by an increase of the US import tariff on steel and derivative products under Section 232 to 50%.

Cash from operations in the second quarter totaled $1.0 billion driven by a significant decrease in working capital, consistent with declining sales volumes. Capital expenditures amounted to $810 million in the period, mainly in connection with the ongoing expansion at the company’s industrial center in Pesquería, Mexico. In addition, the company paid a dividend of $353 million corresponding to the balance of the total dividend declared for the year 2024. Ternium’s net cash position as of the end of June 2025 was $1.0 billion, decreasing by $268 million since the end of March 2025.

2

Outlook

Ternium expects Adjusted EBITDA to keep improving in the third quarter of 2025, supported by ongoing cost reduction initiatives and operational enhancements. The company is concentrating on a comprehensive plan for cost management, aiming to improve profitability and resilience even as challenging market conditions persist.

In Mexico, the steel sector is dealing with uncertainty from ongoing tariff talks with the U.S. In response to shifting market conditions, the Mexican government has begun implementing trade measures intended to defend local producers against unfair trade practices, leading to early declines in steel imports, especially from Asia. Consequently, Ternium expects some increase in shipments in Mexico in the third quarter of 2025 compared to the second quarter of the year.

Unlike the recent developments in Mexico, Brazil’s steel market continues to struggle with a high level of unfairly traded steel imports, especially from China, which is hurting local producers. In this context, Usiminas keeps working on strengthening its competitiveness and expects to achieve an improved cost per ton in the third quarter of 2025 compared to the second quarter of the year.

In Argentina, Ternium anticipates that shipments in the third quarter of 2025 will remain relatively stable after a significant sequential increase during the second quarter driven by seasonal factors as well as a gradually recovering macroeconomic environment.

Analysis of Second Quarter of 2025 Results

Consolidated Net Sales

$ MILLION						2Q25			1Q25			DIF			2Q24			DIF						1H25			1H24			DIF
Steel segment						3,812			3,801			0		%	4,395			-13		%				7,613			9,085			-16		%
Mining segment						135			132			3		%	119			13		%				267			208			28		%
Total net sales						3,947			3,933			0		%	4,514			-13		%				7,880			9,292			-15		%

3

Adjusted EBITDA

Adjusted EBITDA in the second quarter of 2025 equals Net Income adjusted to exclude:

◦Depreciation and amortization;

◦Income tax results;

◦Net financial results;

◦Equity in earnings of non-consolidated companies; and

◦Provision charge for ongoing litigation related to the acquisition of a participation in Usiminas.

And adjusted to include the proportional EBITDA in Unigal (70% participation).

Adjusted EBITDA Margin equals Adjusted EBITDA divided by net sales. For more information see Exhibit I - Alternative performance measures - “Adjusted EBITDA”.

ADJUSTED EBITDA

$ MILLION

Steel Segment

In the second quarter of 2025, the Steel Segment’s net sales remained relatively stable sequentially. Higher realized steel prices were largely offset by reduced sales volumes, reflecting lower shipments in Mexico, Brazil and Other Markets, while shipments increased in the Southern Region.

Year-over-year, the Steel Segment’s net sales declined by 13% in the second quarter of 2025. Steel revenue per ton fell across all regions due to lower steel prices. Sales volumes decreased as well, reflecting lower shipments in Mexico and Other Markets that were partially offset by higher shipments in the Southern Region.

SHIPMENTS - STEEL PRODUCTS

MILLION TONS

n Usiminas

NET SALES - STEEL SEGMENT

$ BILLION

n Usiminas

4

Ternium’s sales volume in Mexico declined sequentially in the second quarter due to reduced shipments to industrial customers and a softer commercial market. On a year-over-year basis, the contraction in second-quarter of 2025 volumes was largely driven by the commercial market weakness.

In Brazil, shipments in the second quarter of 2025 remained broadly in line with those of the same period in the prior year, while showing a modest sequential decline. Although domestic steel demand maintained its upward trajectory, the expansion was accompanied by an extraordinary surge in flat steel product imports.

In the Southern Region, shipments rose both sequentially and year-over-year during the second quarter of 2025, reflecting a recovery in steel demand in Argentina and, on a sequential basis, a seasonal rebound in activity.

In Other Markets, shipments fell by 14% in the second quarter of 2025, both sequentially and year-over-year, primarily driven by lower sales in the US.

SHIPMENTS BY REGION - STEEL PRODUCTS

MILLION TONS

STEEL SEGMENT						NET SALES ($ MILLION)																		SHIPMENTS (THOUSAND TONS)																		REVENUE/TON ($/TON)
						2Q25			1Q25			DIF			2Q24			DIF						2Q25			1Q25			DIF			2Q24			DIF						2Q25			1Q25			DIF			2Q24			DIF
Mexico						1,780			1,767			1		%	2,145			-17		%				1,784			1,911			-7		%	1,985			-10		%				997			924			8		%	1,081			-8		%
Brazil						928			940			-1		%	1,007			-8		%				980			1,005			-3		%	977			0		%				948			936			1		%	1,031			-8		%
Southern Region						606			544			12		%	569			7		%				566			489			16		%	426			33		%				1,072			1,112			-4		%	1,337			-20		%
Other Markets						418			468			-11		%	561			-25		%				390			452			-14		%	453			-14		%				1,073			1,037			3		%	1,239			-13		%
Total Steel Products						3,733			3,719			0		%	4,283			-13		%				3,719			3,857			-4		%	3,841			-3		%				1,004			964			4		%	1,115			-10		%
Other Products						79			82			-3		%	112			-29		%
Total Steel Segment						3,812			3,801			0		%	4,395			-13		%

5

STEEL SEGMENT						NET SALES ($ MILLION)												SHIPMENTS (THOUSAND TONS)												REVENUE/TON ($/TON)
						1H25			1H24			DIF						1H25			1H24			DIF						1H25			1H24			DIF
Mexico						3,546			4,535			-22		%				3,695			4,063			-9		%				960			1,116			-14		%
Brazil						1,869			2,053			-9		%				1,985			1,900			4		%				942			1,080			-13		%
Southern Region						1,150			1,132			2		%				1,055			796			33		%				1,090			1,423			-23		%
Other Markets						887			1,164			-24		%				842			976			-14		%				1,054			1,193			-12		%
Total Steel Products						7,452			8,884			-16		%				7,577			7,735			-2		%				984			1,149			-14		%
Other Products						161			201			-20		%
Total Steel Segment						7,613			9,085			-16		%

The Steel Segment’s Cash Operating Income rose sequentially in the second quarter of 2025 supported by stronger margins despite lower sales volumes. The margin improvement was primarily driven by higher realized steel prices, partially offset by a slight increase in cost per ton.

CASH OPERATING INCOME - STEEL SEGMENT

$ MILLION

Year-over-year, the Steel Segment’s Cash Operating Income declined in the second quarter of 2025, reflecting reduced margins and sales volumes. The contraction in margins was primarily attributable to lower realized steel prices, partially offset by decreased raw material and purchased slab costs.

CASH OPERATING INCOME PER TON AND MARGIN - STEEL SEGMENT $/TON, %

Note:    For a reconciliation of the Steel Segment’s Cash Operating Income and Cash Operating Income per Ton and Margin to the most directly comparable IFRS measures, see Exhibit I - Alternative performance measures - “Cash Operating Income - Steel Segment”.

6

Mining Segment

The Mining Segment’s net sales remained relatively stable sequentially in the second quarter of 2025, as higher sales volumes were largely offset by a decrease in realized iron ore prices. Shipment levels in the second quarter were supported mainly by increased

iron ore production. Year-over-year, the Mining Segment’s net sales rose by 3% in the second quarter of 2025 reflecting higher sales volumes, partially offset by lower realized iron ore prices.

SHIPMENTS - MINING PRODUCTS

MILLION TONS

n Intercompany n Third parties

NET SALES - MINING SEGMENT

$ MILLION

n Intercompany n Third parties

MINING SEGMENT						NET SALES ($ MILLION)																		SHIPMENTS (THOUSAND TONS)																		REVENUE/TON ($/TON)
						2Q25			1Q25			DIF			2Q24			DIF						2Q25			1Q25			DIF			2Q24			DIF						2Q25			1Q25			DIF			2Q24			DIF
Third parties						135			132			3		%	119			13		%				1,980			1,791			11		%	1,496			32		%				68			74			-7		%	80			-15		%
Intercompany						146			148			-2		%	152			-4		%				1,343			1,268			6		%	1,178			14		%				108			117			-7		%	129			-16		%
Total						281			280			0		%	271			3		%				3,323			3,059			9		%	2,674			24		%				84			92			-8		%	102			-17		%

						1H25			1H24			DIF						1H25			1H24			DIF						1H25			1H24			DIF
Third parties						267			208			28		%				3,771			2,920			29		%				71			71			-1		%
Intercompany						294			338			-13		%				2,611			2,450			7		%				113			138			-18		%
Total						561			546			3		%				6,382			5,369			19		%				88			102			-14		%

7

In the second quarter of 2025, the Mining Segment’s Cash Operating Income decreased sequentially and on a year-over-year basis as a result of lower margins, partially offset by higher sales volumes.

The decrease in margins was primarily driven by reduced iron ore realized prices, partially mitigated by lower operating costs per ton.

CASH OPERATING INCOME - MINING SEGMENT

$ MILLION

CASH OPERATING INCOME PER TON AND MARGIN - MINING SEGMENT $/TON, %

Note:    For a reconciliation of the Mining Segment’s Cash Operating Income and Cash Operating Income per Ton and Margin to the most directly comparable IFRS measures, see Exhibit I - Alternative performance measures - “Cash Operating Income - Mining Segment”.

Net Financial Results

Net financial results for the second quarter of 2025 recorded a $30 million loss. The net foreign exchange result for the period was a $35 million loss, driven mainly by the impact of the Mexican Peso’s appreciation against the U.S. dollar on Ternium

Mexico’s net short local currency position and the impact of the Argentine Peso’s depreciation against

the U.S. dollar on Ternium Argentina’s net long local

currency position.

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Net interest result						1			14			28						15			66
Net foreign exchange result						(35)			31			(49)						(4)			(90)
Change in fair value of financial assets						17			29			(5)						46			(142)
Other financial expense, net						(12)			(11)			(13)						(23)			(36)
Net financial results						(30)			63			(39)						33			(201)

8

Income Tax Results

Ternium Mexico, Ternium Argentina and Ternium Brasil use the U.S. dollar as their functional currency and are, therefore, affected by deferred tax results.

These results account for the impact of local currency fluctuations against the U.S. dollar, as well as for the effect of local inflation.

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Current income tax expense						(47)			(25)			(124)						(72)			(250)
Deferred tax gain (loss)						151			3			(183)						154			(97)
Income tax gain (expense)						104			(23)			(307)						82			(347)

Net Income

In the second quarter of 2025, Ternium recorded net income of $259 million, which included a provision

adjustment charge of $40 million for ongoing litigation related to the acquisition of a participation in Usiminas. This adjustment accounted for interest accrual and the appreciation of the Brazilian Real versus the US dollar in the quarter. Excluding this, Adjusted Net Income amounted to $299 million, on operating income of $199 million and an income tax gain of $104 million.

Adjusted Equity Holder’s Net Income was $251 million in the second quarter, or $1.28 per ADS, mainly after accounting for the participation of a 76.7% non-controlling interest in Usiminas and a 37.4% non-controlling interest in Ternium Argentina.

NET INCOME (LOSS)

$ MILLION

9

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Owners of the parent						215			67			(728)						282			(366)
Non-controlling interest						44			75			(16)						119			114
Net Income (Loss)						259			142			(743)						402			(252)
Excluding provision for ongoing litigation related to the acquisition of a participation in Usiminas in 2012						40			45			783						85			783
Adjusted Net Income						299			188			40						487			531

$ per ADS						2Q25			1Q25			2Q24						1H25			1H24
Earnings (Losses) per ADS						1.10			0.34			(3.71)						1.44			(1.87)
Adjusted Earnings (Losses) per ADS						1.28			0.55			(0.11)						1.83			1.73

Cash Flow and Liquidity

In the second quarter of 2025, cash from operations amounted to $1.0 billion after a $787 million decrease in working capital. During the period, inventories declined by $429 million, trade and other receivables decreased by $198 million, and trade payables and other liabilities increased by $161 million.

The reduction in the inventory value was driven by decreased stock volumes and costs. Capital expenditures totaled $810 million in the second quarter, primarily reflecting the progress made in the construction of the new facilities at Ternium’s industrial center in Pesquería, Mexico.

CASH FROM OPERATIONS, CHANGES IN WORKING CAPITAL

$ BILLION

n Cash from operations n Decrease (Increase) in working capital

CAPITAL EXPENDITURES

$ MILLION

n Usiminas

10

In the second quarter of 2025, the company paid a dividend of $353 million corresponding to the balance of the total dividend declared for the year 2024. Ternium’s net cash position as of the end of June 2025 was $1.0 billion, decreasing by $268 million since the end of March 2025.

NET CASH POSITION

$ BILLION

Conference Call and Webcast

Ternium will host a conference call on July 30, 2025, at 8:30 a.m. ET in which management will discuss second quarter of 2025 results. A webcast link will be available in the Investor Center section of the company’s website at www.ternium.com.

Forward Looking Statements

Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products, and other factors beyond Ternium’s control.

About Ternium

Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, especially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.

11

Income Statement

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Net sales						3,947			3,933			4,514						7,880			9,292
Cost of sales						(3,337)			(3,402)			(3,758)						(6,739)			(7,432)
Gross profit						610			531			757						1,141			1,860
Selling, general and administrative expenses						(403)			(396)			(435)						(799)			(866)
Other operating (expense) income, net						(8)			(3)			49						(11)			51
Operating income						199			132			371						331			1,045
Financial expense						(56)			(54)			(45)						(111)			(90)
Financial income						57			68			73						126			156
Other financial (expense) income, net						(31)			49			(67)						18			(267)
Equity in earnings of non-consolidated companies						25			16			15						41			34
Provision for ongoing litigation related to the acquisition of a participation in Usiminas						(40)			(45)			(783)						(85)			(783)
Profit (Loss) before income tax results						155			165			(436)						320			96
Income tax gain (expense)						104			(23)			(307)						82			(347)
Profit (Loss) for the period						259			142			(743)						402			(252)
Attributable to:
Owners of the parent						215			67			(728)						282			(366)
Non-controlling interest						44			75			(16)						119			114
Profit (Loss) for the period						259			142			(743)						402			(252)

12

Statement of Financial Position

$ MILLION						JUNE 30, 2025						DECEMBER 31, 2024
Property, plant and equipment, net						9,486						8,381
Intangible assets, net						1,025						1,022
Investments in non-consolidated companies						553						469
Other investments						0						23
Deferred tax assets						1,429						1,194
Receivables, net						1,077						961
Total non-current assets						13,571						12,050
Receivables, net						871						902
Derivative financial instruments						101						4
Inventories, net						4,228						4,751
Trade receivables, net						1,766						1,562
Other investments						1,517						2,160
Cash and cash equivalents						1,858						1,691
Total current assets						10,341						11,071
Non-current assets classified as held for sale						8						7
Total assets						23,919						23,129

13

Statement of Financial Position (cont.)

$ MILLION						JUNE 30, 2025						DECEMBER 31, 2024
Capital and reserves attributable to the owners of the parent						12,004						11,968
Non-controlling interest						4,578						4,163
Total equity						16,582						16,132
Provisions						602						553
Deferred tax liabilities						40						89
Non current tax liabilities						30						21
Other liabilities						830						766
Trade payables						1						5
Lease liabilities						165						164
Borrowings						1,812						1,560
Total non-current liabilities						3,480						3,158
Provision for ongoing litigation related to the acquisition of a participation in Usiminas						495						410
Current income tax liabilities						32						107
Other liabilities						710						630
Trade payables						2,022						1,926
Derivative financial instruments						1						50
Lease liabilities						51						46
Borrowings						546						670
Total current liabilities						3,857						3,839
Total liabilities						7,337						6,997
Total equity and liabilities						23,919						23,129

14

Statement of Cash Flows

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Result for the period						259			142			(743)						402			(252)
Adjustments for:
Depreciation and amortization						197			184			199						381			370
Income tax accruals less payments						(202)			(50)			283						(252)			271
Equity in earnings of non-consolidated companies						(25)			(16)			(15)						(41)			(34)
Provision for ongoing litigation related to the acquisition of a participation in Usiminas						40			45			783						85			783
Interest accruals less payments / receipts, net						(9)			9			(11)						0			(12)
Changes in provisions						1			3			(62)						4			(69)
Changes in working capital						781			(55)			169						727			(97)
Net foreign exchange results and others						0			(56)			52						(55)			172
Net cash provided by operating activities						1,044			207			656						1,251			1,132
Capital expenditures and advances to suppliers for PP&E						(810)			(518)			(409)						(1,327)			(858)
Decrease in other investments						319			243			329						562			329
Proceeds from the sale of property, plant & equipment						0			1			1						1			1
Dividends received from non-consolidated companies						1			1			1						2			2
Repayment of additional paid in capital						(5)			—			—						(5)			—
Net cash used in investing activities						(495)			(273)			(79)						(768)			(526)
Dividends paid in cash to company’s shareholders						(353)			—			(432)						(353)			(432)
Dividends paid in cash to non-controlling interest						(2)			—			(46)						(2)			(46)
Finance lease payments						(15)			(20)			(15)						(35)			(33)
Proceeds from borrowings						9			573			303						582			434
Repayments of borrowings						(162)			(385)			(365)						(547)			(531)
Net cash (used in) provided by financing activities						(523)			167			(556)						(356)			(608)
Increase (decrease) in cash and cash equivalents						26			101			22						127			(2)

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Exhibit I - Alternative Performance Measures

These non-IFRS measures should not be considered in isolation of, or as a substitute for, measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have a standardized meaning under IFRS and, therefore, may not correspond to similar non-IFRS financial measures reported by other companies.

Adjusted EBITDA

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Net income						259			142			(743)						402			(252)
Adjusted to exclude:
Depreciation and amortization						197			184			199						381			370
Income tax results						(104)			23			307						(82)			347
Net financial results						30			(63)			39						(33)			201
Equity in earnings of non-consolidated companies						(25)			(16)			(15)						(41)			(34)
Provision for ongoing litigation related to the acquisition of a participation in Usiminas						40			45			783						85			783
Reversal of other Usiminas contingencies recognized as part of the PPA						—			—			(34)						—			(34)
Adjusted to include:
Proportional EBITDA in Unigal (70% participation)						7			6			9						13			18
Adjusted EBITDA						403			322			545						725			1,400
Divided by: net sales						3,947			3,933			4,514						7,880			9,292
Adjusted EBITDA Margin (%)						10		%	8		%	12		%				9		%	15		%

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Exhibit I - Alternative Performance Measures (cont.)

Cash Operating Income - Steel Segment

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Operating Income - Management View (Note “Segment Information” to Ternium’s Financial Statements as of the corresponding dates)						190			244			278						433			871
Plus/Minus differences in cost of sales (IFRS)						10			(116)			88						(106)			147
Excluding depreciation and amortization						144			142			134						286			271
Excluding reversal of other Usiminas contingencies						—			—			(34)						—			(34)
Including proportional EBITDA in Unigal (70% participation)						7			6			9						13			18
Cash Operating Income						350			276			476						626			1,274
Divided by: steel shipments (thousand tons)						3,719			3,857			3,841						7,577			7,735
Cash Operating Income per Ton - Steel						94			72			124						83			165
Divided by: steel net sales						3,812			3,801			4,395						7,613			9,085
Cash Operating Income Margin - Steel (%)						9		%	7		%	11		%				8		%	14		%

Cash Operating Income - Mining Segment

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Operating Result - Management View (Note “Segment Information” to Ternium’s Financial Statements as of the corresponding dates)						(38)			(2)			(52)						(40)			(74)
Plus/minus differences in cost of sales (IFRS)						38			17			61						55			115
Excluding depreciation and amortization						53			42			65						95			99
Cash Operating Income						54			57			74						110			140
Divided by: mining shipments (thousand tons)						3,323			3,059			2,674						6,382			5,369
Cash Operating Income per Ton - Mining						16			18			28						17			26
Divided by: mining net sales						281			280			271						561			546
Cash Operating Income Margin - Mining (%)						19		%	20		%	27		%				20		%	26		%

17

Exhibit I - Alternative Performance Measures (cont.)

Adjusted Net Income

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Net income (Loss)						259			142			(743)						402			(252)
Excluding provision for ongoing litigation related to the acquisition of a participation in Usiminas						40			45			783						85			783
Adjusted Net Income							299			188			40						487			531

Adjusted Equity Holders’ Net Income and Adjusted Earnings per ADS

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Equity holders’ net income (Loss)						215			67			(728)						282			(366)
Excluding provision for ongoing litigation related to the acquisition of a participation in Usiminas						36			41			706						77			706
Adjusted Equity Holders’ Net Income (Loss)						251			108			(21)						359			340
Divided by: outstanding shares of common stock, net of treasury shares (expressed in million of ADS equivalent)						196			196			196						196			196
Adjusted Earnings (Losses) per ADS ($)							1.28			0.55			(0.11)						1.83			1.73

Free Cash Flow

$ MILLION						2Q25			1Q25			2Q24						1H25			1H24
Net cash provided by operating activities						1,044			207			656						1,251			1,132
Excluding capital expenditures and advances to suppliers for PP&E						(810)			(518)			(409)						(1,327)			(858)
Free Cash Flow						234			(311)			247						(77)			274

18

Exhibit I - Alternative Performance Measures (cont.)

Net Cash

$ BILLION						JUNE 30, 2025			MARCH 31, 2025			JUNE 30, 2024
Cash and cash equivalents						1.9			1.8			1.7
Plus: other investments (current and non-current)						1.5			1.9			2.1
Less: borrowings (current and non-current)						(2.4)			(2.5)			(2.0)
Net Cash						1.0			1.3			1.9

Note:    Ternium Argentina’s consolidated position of cash and cash equivalents and other investments amounted to $1.0 billion as of June 30, 2025, $1.1 billion as of March 31, 2025 and $1.3 billion as of June 30, 2024.

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