Melissa Dykstra Vice President Corporate Communications and Investor Relations Phone: 614-840-4144 Melissa.Dykstra@worthingtonsteel.com COLUMBUS, Ohio, June 26, 2024 – Worthington Steel, Inc. (NYSE: WS), a market-leading, value-added steel processing company, today reported financial results for the fiscal 2024 fourth quarter and full fiscal year ended May 31, 2024. Fourth Quarter Highlights (all comparisons to the fourth quarter of fiscal 2023): "Worthington Steel saw a solid performance in Q4 and finished ...

Financial Data and Key Metrics Changes - The company reported fourth quarter earnings of $53.2 million, or $1.06 per share, compared to $67.3 million, or $1.37 per share in the prior year quarter [17] - Adjusted EBIT for the fourth quarter was $70.4 million, down $28 million from $98.4 million in the prior year quarter, primarily due to lower gross margins [41] - Net sales in the fourth quarter were $911 million, up 3% from the prior year quarter, driven by slightly higher direct pricing and a favorable mix within toll processing [43] Business Line Data and Key Metrics Changes - Sales to the automotive market constituted 52% of fourth quarter sales, consistent with the same period in the previous year [11] - The construction market accounted for 14% of sales in the fourth quarter, up from 12% in the prior year quarter, with strength noted in fencing, metal building, and culvert markets [35] - Direct sales volume to the automotive market decreased by 1% compared to the prior year quarter, attributed to several programs reaching their end of life [64] Market Data and Key Metrics Changes - The hot roll steel prices experienced volatility, peaking at $1,100 per ton in January, dropping to $750 per ton in March, and further decreasing to around $675 per ton recently [20] - Direct sales volume made up 58% of the mix in the fourth quarter, down 1% year-over-year, with a noted increase in construction-related volume [21] Company Strategy and Development Direction - The company aims to focus on investments in the rapidly growing electrical steel market, which is expected to grow faster than GDP, and to pursue margin-accretive growth through disciplined capital expenditures and selective acquisitions [7] - The company is committed to maintaining its unique positioning in the steel processing industry by offering value-added solutions and continuous improvement processes [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the automotive sector, anticipating a modest increase of 1% to 2% in vehicle builds over 2023, despite potential challenges from inflation and interest rates [51] - The company expects to release working capital as steel prices decline, which is typical in such market conditions [87] Other Important Information - The company announced a quarterly dividend of $0.16 per share payable on September 27, 2024 [22] - The company achieved a 25% reduction in recordable injuries in fiscal year 2024, reflecting its commitment to safety [34] Q&A Session Summary Question: What is the sustainability of the underlying EBITDA? - Management indicated that the strong EBITDA was driven by a favorable mix and higher margins, but it may not be sustainable as it was a good quarter [47] Question: How is the automotive planned downtime looking? - Management confirmed that they anticipate roughly two weeks of downtime for most automotive manufacturers, consistent with previous years [52] Question: Can you provide an update on the electrical steel lamination business? - Management reported that they are pleased with the commercial activity and have secured orders for 50% of the new capacity, with production expected to start at the end of 2025 [54] Question: How will working capital evolve in the next quarters? - Management confirmed that as steel prices decrease, they expect to release working capital over time [80] Question: What initiatives are being taken for cost or efficiency relief? - Management discussed their transformation process aimed at identifying and eliminating waste across the organization, which is expected to improve efficiency and reduce costs [82]

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 Number 001-41830 WORTHINGTON STEEL, INC. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 29, 2024 (Exact name of registrant as specified in its charter ...

EXHIBIT 99.1 Worthington Steel Reports Third Quarter Fiscal 2024 Results COLUMBUS, Ohio, March 21, 2024 – Worthington Steel, Inc. (NYSE: WS) today reported financial results for the fiscal 2024 third quarter ended February 29, 2024. Gross margin increased by $56.9 million over the prior year quarter to $120.1 million. The increase was driven primarily by improved direct spreads and higher volume. Direct spreads, up $52.9 million, benefited from a $45.9 million favorable change from an estimated $26.6 millio ...

Worthington Steel, Inc. (NYSE:WS) Q3 2024 Earnings Conference Call March 22, 2024 8:30 AM ET Company Participants Melissa Dykstra - VP of Corporate Communications and IR Geoff Gilmore - President and CEO Jeff Klingler - EVP and COO Tim Adams - VP and CFO Conference Call Participants Phil Gibbs - KeyBanc Capital Markets John Tumazos - John Tumazos Very Independent Research Martin Englert - Seaport Research Partners Operator Good morning, ladies and gentlemen. My name is Abby, and I will be your conference op ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2023 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 Number 001-41830 WORTHINGTON STEEL, INC. (Exact name of registrant as specified in its charter ...