The VELUX EHF FINAL4 Draw on Wednesday 2 May 2012 at KölnSKY in Cologne confirmed the two semi-final fixtures. Following the coordination of TV requirements, the order of play has now been finalised.

Match Schedule Day 1

Semi-Final 1
Füchse Berlin (GER) – THW Kiel (GER)
Saturday, 26 May 2012, 15:15 hrs (local time)

Semi-Final 2
Atlético Madrid (ESP) – AG Kobenhavn (DEN)
Saturday, 26 May 2012, 18:00 hrs (local time)

Match Schedule Day 2
 
3rd/4th match
Loser Semi-final 1 vs. Loser Semi-final 2
Sunday, 27 May 2012, 15:15 hrs (local time)

VELUX EHF Champions League Final
Winner Semi-final 1 vs. Winner Semi-final 2
Sunday, 27 May 2012, 18:00 hrs (local time)