1 Investment Highlights Worthington Steel Investor Presentation | December 2025 Safe Harbor Statement Selected statements contained in this release constitute "forward-looking statements," as that term is used in the Private Securities Litigation Reform Act of 1995 (the "Act"). The Company wishes to take advantage of the safe harbor provisions included in the Act. Forward-looking statements reflect the Company's current expectations, estimates or projections concerning future results or events. These statem ...

Financial Performance - Worthington Steel's net sales for the trailing twelve months (TTM) were $3.132 billion[70, 104] - The adjusted EBITDA for the TTM period was $235 million, with a margin of 7.5%[11, 71, 104] - Free cash flow for the TTM period was $32.4 million[11, 104] - Capital expenditures for the TTM period were $138.3 million, representing 4.4% of sales[11] Market Position and Strategy - The company delivered 3.7 million tons of steel in the TTM period, with 2.2 million tons direct and 1.5 million tons toll[11] - Automotive accounts for 53% of net sales, followed by Construction at 11%[13, 34] - The company is targeting a 10%+ adjusted EBITDA margin through various strategies[76, 77] - The company has a strong balance sheet with net leverage at 0.66x and total liquidity of $355 million[88] Growth Initiatives - The company is investing $85 million in Mexico to increase motor lamination capacity for xEV demand, targeting production start in early CY 2026[55, 59] - The company is investing $85 million in Canada to increase transformer core making capacity, targeting production start in early CY 2026[56, 59] - The company acquired a 52% ownership in Sitem Group to strengthen its electrical steel business globally[62, 66]