| --- | --- | --- | --- | |-----------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Investor Presentation | | | | | May 2021 | | | | Important Information About Ryerson Holding Corporation These materials do not constitute an offer or solicitation to purchase or sell securities of Ryerson Holding Corporation ("Ryerson" or "the Company") or its subsidiaries and no investment decision should be made based u ...

Ryerson Holding Corporation (NYSE:RYI) Q1 2021 Earnings Conference Call May 6, 2021 10:00 AM ET Company Participants Justine Carlson – Investor Relations Eddie Lehner – President and Chief Executive Officer Mike Burbach – Chief Operating Officer Jim Claussen – Executive Vice President and Chief Financial Officer Molly Kannan – Controller and Chief Accounting Officer Conference Call Participants Matthew Fields – Bank of America Alan Weber – Robotti Advisors Operator Good day, and welcome to the Ryerson Holdi ...

Part I [Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) Ryerson Holding Corporation reported increased net sales and net income in Q1 2021, with total assets rising and operating cash flow turning negative [Condensed Consolidated Statements of Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Q1 2021 net sales increased to $1.15 billion, with operating profit rising to $46.4 million and diluted EPS reaching $0.66 Financial Performance | Financial Metric | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | **Net sales** | $1,147.3 million | $1,010.3 million | | **Gross profit** | $197.9 million | $195.8 million | | **Operating profit** | $46.4 million | $40.1 million | | **Net income attributable to Ryerson** | $25.3 million | $16.4 million | | **Diluted earnings per share** | $0.66 | $0.43 | [Condensed Consolidated Statements of Cash Flows](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2021 saw a net cash outflow from operations of $47.3 million, primarily due to increased receivables Cash Flow Summary | Cash Flow Activity | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | **Net cash (used in) provided by operating activities** | ($47.3 million) | $72.8 million | | **Net cash provided by (used in) investing activities** | $22.0 million | ($6.9 million) | | **Net cash provided by financing activities** | $7.6 million | $79.4 million | | **Net change in cash** | ($18.1 million) | $144.9 million | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $1.99 billion as of March 31, 2021, driven by higher receivables, and total equity improved Balance Sheet Overview | Balance Sheet Item | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total current assets** | $1,295.1 million | $1,103.4 million | | **Total assets** | $1,986.2 million | $1,802.1 million | | **Total current liabilities** | $701.3 million | $527.6 million | | **Total liabilities** | $1,811.5 million | $1,657.0 million | | **Total equity** | $174.7 million | $145.1 million | [Notes to Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, LIFO inventory valuation, total debt, derivative usage, and an environmental contingency - Inventories are primarily valued using the Last-In, First-Out (LIFO) method. If valued at current cost, inventories would have been **$21 million higher** than reported at March 31, 2021[25](index=25&type=chunk) Debt Components | Debt Component | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Ryerson Credit Facility | $282.0 million | $285.0 million | | 8.50% Senior Secured Notes due 2028 | $450.0 million | $450.0 million | | Foreign debt & Other | $23.7 million | $19.9 million | | **Total Debt (before unamortized costs)** | **$755.7 million** | **$754.9 million** | - The company is named as a potentially responsible party (PRP) for the Portland Harbor Superfund Site. Management cannot predict the ultimate outcome or estimate a range of potential loss at this time[55](index=55&type=chunk)[59](index=59&type=chunk) - The company uses derivative instruments to manage exposure to commodity prices, foreign currency, and interest rates. As of March 31, 2021, the fair value of derivative assets was **$34.0 million** and liabilities were **$40.4 million**[61](index=61&type=chunk)[66](index=66&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported stronger pricing and weaker demand in Q1 2021, increasing revenue but contracting gross margin [Industry and Operating Trends](index=22&type=section&id=Industry%20and%20Operating%20Trends) Q1 2021 saw price volatility in the metals industry, with Ryerson's average selling prices up 18.4% and shipments down 4.1% - Compared to Q1 2020, Ryerson experienced **stronger pricing** and **weaker demand** in Q1 2021[95](index=95&type=chunk) Key Operating Metrics | Metric | Change (Q1 2021 vs Q1 2020) | | :--- | :--- | | Average Selling Prices | +18.4% | | Shipments | -4.1% | [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Q1 2021 revenue rose 13.6% to $1.15 billion, driven by higher prices, but gross margin declined due to LIFO expense Revenue and Sales Volume | Metric | Q1 2021 | Q1 2020 | Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $1,147.3 M | $1,010.3 M | +13.6% | | **Tons Sold** | 543 k | 566 k | -4.1% | | **Avg. Selling Price/Ton** | $2,113 | $1,785 | +18.4% | - Gross margin decreased from **19.4%** in Q1 2020 to **17.2%** in Q1 2021. This was primarily due to a significant **LIFO expense of $83.8 million** in Q1 2021, compared to LIFO income of **$20.2 million** in the prior-year period[103](index=103&type=chunk)[121](index=121&type=chunk)[122](index=122&type=chunk) - Operating expenses decreased as a percentage of sales, largely due to a **$20.3 million gain** on the sale of the company's Renton, Washington facility[123](index=123&type=chunk) [Liquidity and Cash Flows](index=28&type=section&id=Liquidity%20and%20Cash%20Flows) Total liquidity increased to $583 million as of March 31, 2021, while operating cash flow became a $47.3 million outflow Liquidity Position | Liquidity Metric | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $43 million | $61 million | | **Availability under Credit Facilities** | $540 million | $312 million | | **Total liquidity** | $583 million | $373 million | - Net cash used in operating activities was **$47.3 million**, a **$120.1 million decrease** from the prior year, mainly due to a **$165.2 million increase** in receivables[133](index=133&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Ryerson manages market risks from interest rates, foreign currency, and commodity prices using debt and derivatives - **Interest Rate Risk:** The company holds a mix of fixed and variable-rate debt. After accounting for interest rate swaps on **$160 million** of debt, **81%** of total debt was at fixed rates as of March 31, 2021[151](index=151&type=chunk)[152](index=152&type=chunk)[154](index=154&type=chunk) - **Foreign Exchange Rate Risk:** Operations in Canada, Mexico, and China expose the company to currency fluctuations. As of March 31, 2021, it held foreign currency contracts with a notional value of **$4.8 million**[154](index=154&type=chunk) - **Commodity Price Risk:** The company uses derivative financial instruments to manage a portion of its exposure to metal price fluctuations. As of March 31, 2021, it held swap contracts for hot roll coil, aluminum, and nickel[157](index=157&type=chunk)[158](index=158&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2021, with no material changes - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of March 31, 2021[161](index=161&type=chunk) - No changes in internal controls over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's controls[162](index=162&type=chunk) Part II [Part II. Other Information](index=34&type=section&id=Part%20II.%20Other%20Information) [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) Legal proceedings, detailed in Note 9, primarily concern the Portland Harbor Superfund Site environmental matter - For information on legal proceedings, the report refers to Note 9, which details the company's involvement as a potentially responsible party in the Portland Harbor Superfund Site environmental matter[165](index=165&type=chunk)[55](index=55&type=chunk) [Item 1A. Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor highlights the structural subordination of 2028 Senior Secured Notes to non-guarantor subsidiaries' debt - A new risk factor highlights that the **2028 Notes** are structurally subordinated to all indebtedness of non-guarantor subsidiaries, meaning creditors of those subsidiaries have priority claim to their assets[167](index=167&type=chunk) - As of March 31, 2021, these non-guarantor subsidiaries represented **10.6% of net sales** and **12.7% of assets**[168](index=168&type=chunk) [Item 6. Exhibits](index=35&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including CEO/CFO certifications and Inline XBRL documents - The exhibits include CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act, as well as XBRL data files[169](index=169&type=chunk)

Ryerson Holding Corporation (NYSE:RYI) Q4 2020 Earnings Conference Call February 25, 2021 10:00 AM ET Company Participants Justine Carlson - Investor Relations Eddie Lehner - President and Chief Executive Officer Jim Claussen - Executive Vice President, Chief Financial Officer and President, CS&W Kevin Richardson - President, North America John Orth - Executive Vice President, Operations Molly Cannon - Controller and Chief Accounting Officer Conference Call Participants Chris Terry - Deutsche Bank Michael L ...

Financial Performance Highlights - Ryerson's Q4 2020 net sales reached $853 million, a 3% increase compared to Q3 2020, but an 11% decrease compared to Q4 2019 [17] - The company's full-year 2020 net sales were $3.5 billion, a 23% decrease compared to 2019 [17] - Gross margin, excluding LIFO, was 193% in Q4 2020, a 260 bps increase compared to Q3 2020 and a 120 bps increase compared to Q4 2019 [17] - Adjusted EBITDA, excluding LIFO, was $34 million in Q4 2020, a $2 million increase compared to Q3 2020, but a $13 million decrease compared to Q4 2019 [17] - Ryerson generated a loss per diluted share of $017 in Q4 2020, excluding one-time non-recurring and non-operating items [6] - Full-year 2020 Adjusted EBITDA, excluding LIFO, was $120 million, a $70 million decrease compared to 2019 [17] Balance Sheet and Cash Flow - Ryerson redeemed $50 million in outstanding Senior Secured Notes due 2028 [6, 35] - The company ended 2020 with net debt of $679 million, a $244 million decrease compared to 2019 [6, 23] - Ryerson generated $278 million in cash flow from operations in 2020 [6, 17] - Free cash flow yield for 2020 was 49%, compared to an average of 28% for the period 2015-2019 [19] Operational Improvements - Cash conversion cycle improved to 62 days in Q4 2020, a decrease of 24 days compared to Q4 2019 [6] - Ryerson reduced bond principal amount from $900 million in 2012 to $450 million in 2020 [23]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-34735 RYERSON HOLDING CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 26-1251524 (State or other jurisdictio ...

Ryerson Holding Corporation (NYSE:RYI) Q3 2020 Earnings Conference Call October 29, 2020 10:00 AM ET Company Participants Justine Carlson - Investor Relations Eddie Lehner - President and Chief Executive Officer Molly Kannan - Controller and Chief Accounting Officer Mike Burbach - North American Regional Presidents Kevin Richardson - North American Regional Presidents John Orth - Executive Vice President of Operations Conference Call Participants Matthew Fields - Bank of America Chris Terry - Deutsche Bank ...