Slide 1: Earnings Presentation | Q1 2026
Earnings Presentation | Q1 2026 May 2026
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
Forward-Looking Statements & Non-GAAP Financial Measures Forward-looking statements (12) the impact of global conflicts on the economy, sourcing of raw materials, and commodity prices; (13) climate-related risks, including environmental and severe weather caused by climate changes, and This presenta
Slide 3: Operational & Other Highlights
Operational & Other Highlights Net sales of $308.3 million, up 10% compared to prior-year first quarter, and net income of $5.4 million Adjusted EBITDA of $24.6 million, an increase of 39% compared to prior-year first quarter Order book continues to grow year-over-year underscoring stronger de
Slide 4: Q1 2026 Financial Highlights
Metallus Q1 2026 | Financial Highlights PRIOR YEAR AND SEQUENTIAL COMPARISON NET SALES | $308 MILLION NET INCOME | $5 MILLION ADJUSTED EBITDA (1) | $25 MILLION $308 $281 $267 $5 $25 $1 $18 $2 $(14) Q1 25 Q4 25 Q1 26 Q1 25 Q4 25 Q1 26 Q1 25 Q4 25 Q1 26 OPERATING CASH OUTFLOW | $27 MILLION ADJUSTED EP
Slide 5: Q1 2026 End Market Performance
Metallus Q1 2026 | End Market Performance vs. Q4 2025 Shipments (k Tons) Base Sales per Ton(1) 66 67 60 $1,133 $1,189 $1,206 Industrial Q1 25 Q4 25 Q1 26 Q1 25 Q4 25 Q1 26 64 64 67 $1,429 $1,396 $1,344 Automotive Q1 25 Q4 25 Q1 26 Q1 25 Q4 25 Q1 26 18 $3,384 16 $2,198 $2,457 9 Aerospace & Defense Q1
Slide 6: Q1 2026 Adjusted EBITDA Waterfall
Metallus Q1 2026 | Adjusted EBITDA(1) Waterfall PRIOR YEAR COMPARISON $1.0 $4.8 $0.7 $24.6 $4.5 $(3.9) $(0.2) $ in Millions $17.7 2025 Q1 VOLUME PRICE/MIX RAW MANUFACTURING OTHER 2026 Q1 ADJUSTED MATERIAL SPREAD SG&A ADJUSTED EBITDA (1) EBITDA (1) SEQUENTIAL COMPARISON $8.5 $0.5 $24.6 $(1.0) $ In Mi
Slide 7: Q2 2026 Outlook
Metallus | Q2 2026 Outlook PERFORMANCE METRIC VS. Q1 2026 OUTLOOK Second-quarter shipments are expected to increase modestly on a sequential basis, in Shipments the low single digits on a percentage basis, supported by continued strength in the order book and normal seasonality. The company rece
Slide 8: Investment Highlights
Metallus Investment Highlights SAFETY IS A NON-NEGOTIABLE Consistent commitment backed by investments in training and tools support a best-in-class safety culture. STRONG IndustrialTHROUGH CYCLE CASH FLOW GENERATION Cash flow generation and a resilient balance sheet reinforce financial strength and
Slide 9: Appendix
Appendix
Slide 10: Reconciliation of EBITDA and Adjusted EBITDA to GAAP Net Income
$mReconciliation of Earnings (Loss) Before Interest, Taxes, Depreciation and Amortization (EBITDA)(3) and Adjusted EBITDA(9) to GAAP Net Income (Loss) This reconciliation is provided as additional relevant information about the company's performance. EBITDA and Adjusted EBITDA are important $M QUART
Slide 11: Reconciliation Adjusted Diluted EPS
Reconciliation Adjusted Diluted EPS (1) Adjusted net income (loss) and adjusted diluted earnings (loss) per share are financial measures not required by or (1) For the three months ended March 31, 2026, common share equivalents for shares issuable for equity-based presented in accordance with GAAP.
Slide 12: Calculation of Total Liquidity
Calculation of Total Liquidity(1) This calculation is provided as additional relevant information about the company's financial position. $M QUARTERLY – CONSOLIDATED TOTAL Q1 Q4 Q1 (Unaudited) 2025 2025 2026 Cash and cash equivalents 180.3 $ 156.7 $ 104.0 Credit Agreement: Maximum availability 400.0
Slide 13: Quarterly Reconciliation of Base Sales to GAAP Net Sales
Quarterly Reconciliation of Base Sales(1) to GAAP Net Sales INDUSTRIAL AUTOMOTIVE The tables to the right present net sales by end-market sector, adjusted to exclude surcharges, which represents a financial measure that has not been determined in accordance with GAAP. We believe presenting net sales