Ryerson Holding Corporation · NYSE:RYZ
Ryerson — Investor Day (November 2022)
114 slides from Ryerson's investor day presentation, Nov 8, 2022
Slide 1: Investor Day 2022
Investor Day 2022 NYSE and Virtual, November 8th Exhibit 99.2
Slide 2: Agenda
Agenda Time Section Topic Speaker 2:00 – 2:25 Welcome coffee and pastries NYSE – Siebert Hall 2:30 – 2:40 OVERVIEW Who We Are and What We Do Jorge Beristain, VP – Finance 2:40 – 3:00 Key Takeaways, Industry Themes Eddie Lehner, President & Chief Executive Officer 3:00 – 3:30 MARKETS & OPERATIONS Pro
Slide 3: Overview
Overview
Slide 4: Overview: Introductions, Who We Are, What We Do
Overview Introductions Who We Are What We Do Jorge Beristain Vice President - Finance
Slide 5: Disclaimer
Disclaimer 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 upon the inform
Slide 6: Executive Leadership Team
Executive Leadership Team Eddie Lehner President & Chief Executive Officer | 8 years 11 years at Ryerson 33 years of industry experience Mike Burbach Chief Operating Officer | 2 years 39 years at Ryerson 39 years of industry experience Molly Kannan Controller & Chief Accounting Officer | 8 years 14
Slide 7: Who We Are
Who We Are Shape and Metal Mix based on 2021 10-K; 1Adjusted EBITDA excluding LIFO 2Market Cap as of November 4, 2022 and shares outstanding as of September 30, 2022; 3Net Debt as of September 30, 2022 Revenue ($B) Diluted Earnings Per Share ($) Leading distributor and provider of metals solutions w
Slide 8: Leading Metals Distributor and Processor
Leading Metals Distributor and Processor 1Competitor product mixes based on respective 10-K/10-Q reports; 2Bright metals composed of stainless steel and aluminum; 3Ryerson mix as of December 31, 2021; 4Olympic’s tubular and pipe segment classified as carbon; 5Worthington is based on FY ending May 20
Slide 9: What We Do – At Nexus of $230 Billion Industry
What We Do – At Nexus of $230 Billion Industry SUPPLIERS Primarily produce “hot metal" cast into coils, plates and bars Produce and ship large volumes Have long and potentially volatile lead times CUSTOMERS Require a variety of products/services Purchase to spot bill of materials requirements Seek v
Slide 10: Key Takeaways
Key Takeaways Our Ryerson DNA The Ryerson Network Industry Themes Our Value Proposition Eddie Lehner President & Chief Executive Officer
Slide 11: Our Ryerson DNA
Our Ryerson DNA The “how” really matters in this industry and is a primary growth driver
Slide 12: It Starts With Culture
RYERSON It Starts With Culture ©, es Ss AY veg URE /, Tr RYERSON Our
Slide 13: Differentiated Customer-Centric Model
Differentiated Customer-Centric Model Leveraging Scale and Integrated Network “RYERSON FAMILY” Single network National coverage Great customer experiences CONNECTIVITY Technical knowledge Processing & fabrication Logistics Inventory MULTI-CHANNEL SALES Local sales and service Customer service prospe
Slide 14: Intelligent Network of Service Centers
Intelligent Network of Service Centers Diversified (metals mix, ~40k customers, ~75k products) Availability, speed, ease, consistency Hundreds of “virtual” locations 24/7 e-commerce Digitalized customer experience Building the value chain of the future
Slide 15: Digitalization – The Network Effect
Digitalization – “The Network Effect” Pricing Analytics Transportation Management Speed to Quote Fabrication Locator Intelligent Operating Systems ryerson.com Customer Shipment Visibility Operations Analytics Data Virtual Warehouse
Slide 16: Global Mega-Trends
Global Mega-Trends De-globalization and a supply chain re-think favor North America Decarbonization drives higher metals intensity, while emissions standards favor supply base Rising energy, labor, input costs and supply security causing metals prices to reset higher Productivity driven investment N
Slide 17: Infrastructure and Public Health
Infrastructure and Public Health Source: BEA; Spending amounts based on Government Structures investment per Table 1.5; GDP = Gross Domestic Product; Life Expectancy, United States US Public Infrastructure Spend as % of GDP Source: National Center for Health Statistics, CDC.gov (Years)
Slide 18: Metals and Energy Capex Have Lagged
Metals and Energy Capex Have Lagged China-driven 2000’s Commodities Super Cycle US Shale Revolution Aggregate Trailing 12-month Capex ($M) Source: Bloomberg data through October 30, 2022; Aggregate capital expenditures for all US and Canadian listed Metals & Mining, Steel and Oil & Gas companies wit
Slide 19: De-globalization Favors North America
De-globalization Favors North America Extended Supply Chains: Penny-wise or Pound Foolish? Global supply chains pushed to breaking point during COVID-19 Europe's energy crisis is a new variable impacting industrial manufacturing Asia's critical components shortage caused global production bottleneck
Slide 20: Decarbonization Is Metals Intensive
Each new GWh of clean power requires 6x steel, aluminum and copper versus coal-fired power1 500,0002 new Electric Vehicle charging stations to be built nationwide (~10x current) Batteries for both mobile and stationary storage represent large new consumers of metals Decarbonization Is Metals Intensi
Slide 21: Commodities Pricing Support
Processed metals generally reset higher over time and are an inflation hedge Reflect not only higher energy, labor and input costs, but increasingly supply security Ryerson benefits from a higher price environment and is improving its mix and value-add against backdrop of price tailwind Commodities
Slide 22: Steel Consolidation and Fair Trade
Steel Consolidation and Fair Trade Domestic steel mill consolidation: Top 4 now account for 84% of production1 Steel imports have settled at 24% of market versus 29% peak seven years ago; indirect imports remain an issue due to off-shoring2 Ryerson sells mostly domestic produced metals and benefits
Slide 23: Supportive Government Policies
Supportive Government Policies
Slide 24: Customers Seek More Value-Add
Customers Seek More Value-Add Manufacturers are labor and capital constrained, looking for trusted long-term business partners Re-thinking extended supply chains Re-shoring facilities Relying more on outside metals suppliers and processors Ryerson is answering the call with Customized Metal Solution
Slide 25: Our Value Proposition
Our Value Proposition De-risked business with a fortified Balance Sheet and debt structure Supportive themes such as on-shoring, infrastructure spend and customers seeking more value-add Re-investing for growth in value-add, bright metals and digital experience Returning cash to shareholders via gro
Slide 26: Industrial Metals Solutions Made Easy
Industrial Metals Solutions Made Easy
Slide 27: Markets & Operations
Markets & Operations
Slide 28: Ryerson Operating Model
Ryerson Operating Model Diverse Products End-Markets Supply Chain Expertise Mike Burbach Chief Operating Officer Operational Excellence
Slide 29: Ryerson Operating Model
Ryerson Operating Model OPERATIONAL EFFICIENCY MARGIN EXPANSION PROFITABLE GROWTH Product and customer mix optimization Value-added processing Value-added pricing Supply chain innovation, architecture and leadership Market share growth through refining the customer experience Multi-channel sales and
Slide 30: Diverse Product Mix
Diverse Product Mix Product mix is based on 2021 sales as disclosed in Ryerson’s Annual Report on Form 10-K for the year ended December 31, 2021. Long 4% Flat 12% Plate 2% Long 13% Flat 31% Plate 10% Long 4% Flat 18% Plate 5% Red Metals & Other 1% Carbon & Alloy 54% Stainless Steel 27% Aluminum 18%
Slide 31: Product Offering – Custom Solutions
Product Offering – Custom Solutions Carbon Aluminum Stainless Flat Long Plate Fabricated Burn/ Cut As-Is Metal Shape Processing Carbon Plate Burn/ Cut x Numerous metal/ shape/process combinations Contract or Transactional pricing/duration = Attractive margin combinations
Slide 32: Moving Up the Value Chain
Moving Up the Value Chain Advanced Processing
Slide 33: First Stage Processing
First Stage Processing Customers get what they need, which maximizes labor force use, manufacturing space and optimizes working capital Economies of scale for processing machinery utilization/uptime Effective use of inventory buying in bulk and then cut to correct size or length Higher margin than t
Slide 34: Advanced Processing
Advanced Processing Advanced fabrication capitalizes on increased customer demand for outsourced complex parts and sub-assemblies Provides a growth platform beyond industry projections Higher margins achieved by de-linking from underlying commodities Minimal customer turnover as cost to change part
Slide 35: Diverse End-Markets
Diverse End-Markets Metal Fabrication & Machine Shops 27% Industrial Machinery & Equipment 18% Commercial Ground Transportation 13% Consumer Durable 10% Food Processing & Ag. 9% Construction Equipment 9% 7% HVAC/ (Climate) 3% Oil & Gas 4% All Other Secular Trends: Electric Vehicles Cloud Infrastruct
Slide 36: Industrial Machinery and Equipment
Industrial Machinery and Equipment Broadly diversified sector includes machinery manufacturers, chemical industries, power generation and electrical equipment General manufacturing-related sector. Later cycle end-market due to nature of long-lead equipment Source: MarketLine Industry Profile – Machi
Slide 37: Commercial Ground Transportation
Commercial Ground Ryerson supplier to multiple modes of commercial ground transportation We sell to most major Class 8 truck producers in North America ~70% of freight tonnage in US moved through trucks per American Trucking Association Source: ACT Class 8 Production, September 2022
Slide 38: Consumer Durable
Consumer Durable Residential Construction, household formation and regulatory energy efficiency standards drive growth Greater appliance connectivity and automation influence model upgrades We supply processed carbon & stainless flat rolled, tubing and other metals Source: IBIS World Major Household
Slide 39: HVAC/Climate
HVAC/Climate Green Buildings, increasing consumer installation of smart HVAC systems are key demand drivers Inflation Reduction Act credits, product innovation and technological advancement drive greater demand Ryerson supplies 4 out of 6 largest HVAC producers and is aggressively targeting growth i
Slide 40: Emerging Markets
Emerging Markets Charging infrastructure for Electric Vehicles (EV) could grow 10x1 Inflation Reduction Act and federal tax credits accelerating manufacturing growth in the space, particularly with emphasis on domestic supply base Doubling of US solar installations to 200 GWh expected over the next
Slide 41: Supply Chain – Managing Complexity
Supply Chain – Managing Complexity Top 30 vendors = 85% of purchases Imports equal roughly 10% of our purchases Challenging supplier performance metrics – on time and complete Ongoing development of internal tools for customer forecasting and vendor purchase execution and tracking 2020 2021 1Imports
Slide 42: Supply Chain – Expertise
Best in class inventory management and Days of Supply Internal tools & systems to capture vendor activities, customer forecasts and usage Visibility to inventory across Ryerson network, master distributors and mill depots Diverse & Long-Term Supplier Partners Supply Chain Analytics Vendor Relationsh
Slide 43: Supply Chain – Long Term Partnerships
Supply Chain – Long Term Partnerships
Slide 44: Operational Excellence
Operational Excellence Safety Network Optimization Operating Efficiency Automation John Orth Executive Vice President - Operations
Slide 45: Safety Commitment Drives Success
Safety Commitment Drives Success Maintaining a safe workplace is one of our core values evidenced by our consistent outperformance of the industry Focusing on health, safety and wellness has the benefit of positively impacting employee morale, and attracting and retaining a talented workforce Invest
Slide 46: Ryerson Production System
RPS (Ryerson Production System) Certified sites are positively impacting the P&L Outperforming the average across key operational and financial metrics Scalability of lessons learned throughout our network Safety Productivity Operating Expense Management On Time Delivery Scrap Improvement
Slide 47: ROAD (Ryerson Operations Analytics Data)
ROAD (Ryerson Operations Analytics Data) Real time asset condition monitoring to improve productivity and service Machine-based data collection enhances productivity via better information and KPIs Visual Management and Operator Engagement through live dashboards and automated shift summary emails a
Slide 48: Benefits of Automation
Benefits of Automation Reduced workplace accidents Increased profitability through cost savings and scalability Enhanced visibility to inventory management Consistent quality through fewer errors Skilled labor attraction and retention
Slide 49: Network Optimization Pillars
Network Optimization Pillars MONETIZE & MODERNIZE Monetize our valuable industrial real estate and then modernize by investing in greenfield state-of-the-art facilities FOOTPRINT OPTIMIZATION Leverage analytics to maximize the profitability of our existing intelligently connected network of service
Slide 50: Automated Laser and Fabrication Center
Automated Laser and Fabrication Center Brownfield expansion of existing facility in 2023 located in Portage, IN Automation and optimized supply chain model drive our value proposition High quality parts, short lead times and best-in-class delivery servicing multiple sales channels, markets and indus
Slide 51: Pacific NW Growth and Modernization
Pacific NW Growth and Modernization New 214,000 square foot facility Located in Centralia, Washington Services Pacific Northwest State-of-the-art facility with advanced processing capabilities for sheet, plate and long products Funded in part through sale of legacy Renton, WA facility
Slide 52: New Midwest Long Products Hub
New Midwest Long Products Hub New CS&W headquarters and long product hub with 900,000 square foot facility operational in Q2 2023 Located in University Park, IL, south of Chicago with direct access to major interstates and broad geographic area Significant investment in technology and automation inc
Slide 53: Break
Break
Slide 54: Customer Experience
Customer Experience
Slide 55: Digitalizing Our Business
Digitalizing Our Business Srini Sundarrajan Chief Information Officer Frank Williams General Manager of E-Commerce, Marketing and Communication The Customer Experience Future State Apps
Slide 56: Customer Experience – The Driving Force
Customer Experience – The Driving Force Customers need: Quick delivery of complete quotes Efficiency Transparency Insights Our employees need: Tools that are customized to our business Real-time information Simplicity More ways to say yes
Slide 57: Digitalizing Our Business
Insights Transparency Digitalizing Our Business CUSTOMER VIRTUAL WAREHOUSE PRODUCER METALS Response Speed Complete Response Efficiency
Slide 58: Emissions Illuminator: Go Green!
Emissions Illuminator: Go Green! Compares supply chain options based on carbon emissions estimates
Slide 59: Future State Apps
Future State Apps Delivering the best-in-class customer experience is our mission. We are investing in proprietary, next-generation applications to enable this future mobile-first fast/easy full-service metal universe developed in-house
Slide 60: Benefiting Customers Through Tools
Benefiting Customers Through Tools Consolidating and modernizing the ERP Adopting SaaS tools Developing apps that are purpose-built for Ryerson Applications are integrated to work together using APIs The more pieces we put together, the stronger the business benefit Quick Quoting CRM Customer Invent
Slide 61: Innovation in Metal
Innovation in Metal Using agile framework: Development led by product owners from the business Strong internal web development teams paired with proven digital agencies Low-code app development DevOps process and Cloud-first approach Machine learning and analytics
Slide 62: Developing Leading Edge Digital Tools
Developing Leading Edge Digital Tools Initiatives are determined by prioritized needs and led by the business Modern interfaces with ease of use built into the design Consistent look and feel across applications Apps simplify the business process, reduce friction and improve the customer experience
Slide 63: Finance & Strategy
Finance & Strategy
Slide 64: Environmental, Social & Governance; Current Financial Highlights
Finance & Strategy Environmental, Social & Governance Current Financial Highlights Molly Kannan Corporate Controller & Chief Accounting Officer
Slide 65: Transparent, Sustainable Growth
Transparent, Sustainable Growth Emissions baseline estimate established ESG Committee established Focus on circular economy and sustainable products Continued focus on Diversity, Equity and Inclusion Talent and future workforce Data security focus Inaugural ESG Report to be published by year-end 202
Slide 66: Low Carbon Emissions Footprint
Low Carbon Emissions Footprint 9 16 17 23 27 32 53 88 31 Industrial Supplier 1 Ryerson Metals Distr. 1 Retail Wholesaler 1 Metals Distr. 2 Retail Wholesaler 2 Metals Distr. 3 & Retail Wholesaler 3 Industrial Supplier 2 Online Retailer 1 Metals Distr. 4 Distributor Peers 2020 Scope 1 and 2 mt CO2e /
Slide 67: YTD Q3 2022 Key Financial Metrics
1 Net Income attributable to Ryerson Holding Corporation; A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix. See Ryerson’s 8-K filed on November 2, 2022 YTD Q3 2022 Key Financial Metrics Net Sales Gross Margin Net Income1 Diluted Earnings per
Slide 68: YTD Q3 2022 Selected Metrics
YTD Q3 2022 Selected Metrics YTD Q3 2022 Investment 2022 Projection $71M $100M Capital Investment Expenses Expenses / Sales +$14M -200 bps Expense Management Compared to YTD Q3 2021 Inventory Days of Supply Cash Conversion Cycle 79 79 Asset Management Cash from operating activities Free Cash Flow Yi
Slide 69: Current Financial Highlights – Q3 2022
Diluted EPS1 of $1.46 and Adj. diluted EPS1 of $1.48 on $1.54 billion of revenue Net Income of $55 million and Adjusted EBITDA, excluding LIFO2 of $79 million Generated Operating Cash Flow of $152 million and Free Cash Flow3 of $124 million Redeemed final $50 million outstanding balance of 8.50% sen
Slide 70: Q3 2022 Key Financial Metrics
1 Net Income attributable to Ryerson Holding Corporation; A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix. See Ryerson’s 8-K filed on November 2, 2022 Q3 2022 Key Financial Metrics Net Sales Gross Margin Net Income1 Diluted Earnings per Shar
Slide 71: Commodity Pricing Environment
Commodity Pricing Environment Commodity indices reset driven by macroeconomic global headwinds Source: Bloomberg
Slide 72: Transitory Margin Impact
Transitory Margin Impact Average Selling Prices reset faster and ahead of Cost of Materials Sold As replacement inventory material tracks lower (Receipt Cost), margins recover in coming periods 1Commodity Index is sourced from Bloomberg commodity data weighted to Ryerson’s metals sales as reported i
Slide 73: Full Year 2022 Guidance
Full Year 2022 Guidance Net Sales Net Income1 Adj. EBITDA, excl. LIFO $6.29 - 6.34B $442 - 445M $593 - 597M Q4 2022 Guidance Revenue of $1.25B to $1.30B Net Income of $27 - $30M Adj. EBITDA excluding LIFO of $40 - $44M EPS of $0.70 – $0.78 Annual Diluted Earnings per Share 2 1Net Income attributable
Slide 74: Targets Achieved
Targets Achieved 20% Gross Margins excluding-LIFO 70 – 75 Days of Supply 2x Net Debt-to-EBITDA
Slide 75: Financial Transformation, Capital Allocation, Targets
Finance & Strategy Financial Transformation Capital Allocation Targets Jim Claussen Executive Vice President & Chief Financial Officer
Slide 76: Financial Priorities
Financial Priorities BALANCE SHEET MINDFULNESS Maintain leverage ratio through the cycle of 0.5x to 2.0x RE-INVEST IN BUSINESS Invest in strong ROI capital projects Continue digital infrastructure initiatives to drive excellent customer experiences Disciplined, strategic M&A RETURNS TO SHAREHOLDERS
Slide 77: Financial Transformation Since 2014
Financial Transformation Since 2014 Reduced total debt by over $750 million Reduced annual interest payments by approximately $70 million Increased Revolving Credit facility capacity to $1.3 billion Reduced pension liability by approximately $190 million Increased Book Value of equity1 over $1 billi
Slide 78: High Yield Notes Fully Repaid
High Yield Notes Fully Repaid Interest savings, refinance risk removed, and debt covenants improved 1 1Represents management’s estimate of high yield interest only, full interest expense paid can be found in our GAAP Financials in the Appendix
Slide 79: Net Leverage vs Long-Term Targets
Net Leverage vs Long-Term Targets We remain below our previous target 2.0x net leverage target 1Calculated using net debt and trailing twelve-month Adj. EBITDA excluding LIFO as of September 30, 2022 1
Slide 80: Working Capital, Cash Conversion Cycle
Working Capital, Cash Conversion Cycle Structural reduction in cash conversion cycle has mitigated the cash use during a period of commodity inflation
Slide 81: Free Cash Flow Through the Cycle
Free Cash Flow Through the Cycle Ryerson has generated cash through both metals up- and down-cycles
Slide 82: Gross Margin and Expense vs Sales
Gross Margin and Expense vs Sales We have increased our Gross Profit as a percent of sales over time by increasing Transactional Sales and Value-Add, while Expense ratio has fallen
Slide 83: Transactional and Value-Added Sales
Transactional and Value-Added Sales Structural margin growth driven by increased Transactional and Value-Added sales
Slide 84: Variabilized Expense Structure
Variabilized Expense Structure Progress achieved with a more variable expense structure. Compensation & Benefits is our largest Service Center expense component. Warehousing, Delivery, Selling, General and Administrative Expense 1 1 Based on 2021 expenses
Slide 85: Operating Metrics – Ahead of Peers
Operating Metrics – Ahead of Peers Inventory Days of Supply Expense % of Sales Excl. D&A, One-Time Items Competitor averages are based on Ryerson’s analysis of financial information disclosed in competitors’ SEC filings and include Reliance Steel & Aluminum, Olympic Steel, Kloeckner Metals and Russe
Slide 86: Market Share – Outpacing Competition
Market Share – Outpacing Competition Outpaced the industry on a tons per day basis sold and against a challenging market RYI = Ryerson, MSCI = Metals Service Center Institute, the industry benchmark for volume market share
Slide 87: Capital Allocation Plan
Capital Allocation Plan Strong free cash flow generation $100M ’22 plan: $74m for modernization and Value-Add Progressively raised to $0.16 per share Track record of successful acquisitions $51M repurchased since ’21; New $75M authorization CAPEX DIVIDENDS BUYBACKS M&A Supports increases in 4 key pi
Slide 88: Dividend Payments Trend Higher
Dividend Payments Trend Higher Current dividend yield of 1.6% is comparable to the S&P 500 average of 2% yield between 2011 to 20212 1Yield for 2021 is based on actual payments and non-annualized; Based on share price as of October 31, 2022, of $33.55 2Source: https://www.investopedia.com/articles/m
Slide 89: Capital Expenditures Shift to Growth
Capital Expenditures Shift to Growth Operating model improvements and reduction of debt service has substantially grown our ability to re-investment in the business
Slide 90: M&A Strategy – More Value-Add
M&A Strategy – More Value-Add Market Share Expansion Product Expansion Value-Add Processing Acquire capabilities and IP to enhance the customer experience Purchases accretive to gross margin & Adj. EBITDA excl. LIFO Focus on Value-Added processing Broaden transactional customer portfolio Enhance sup
Slide 91: Case Study: Central Steel & Wire
Case Study: Central Steel & Wire Acquired July 2018 for $164 million. CS&W capital returned: ~$100 million of working capital taken out ~$50 million in asset sales proceeds >35% Return On Investment (ROI)1 since investment close of July 2018 Long product franchise, enhanced inventory position and a
Slide 92: M&A – Howard and Excelsior
Howard Precision Metals High-quality, precision-cut aluminum service center Minimal customer overlap and natural product line extension Value-added processes, such as non-ferrous saw cutting increase network capabilities in Mid-West Excelsior, Inc. Large-scale materials, complex assemblies and millw
Slide 93: Lower Interest Expense Frees up Cash Returns
Lower Interest Expense Frees up Cash Returns Capital Allocation pivoting toward shareholder returns and re-investing in business. Higher capex and M&A funded by structurally higher EBITDA Dividends & share repurchases funded by interest expense savings 2022F share repurchases reflect Q3 2022 YTD amo
Slide 94: Increased Operating Cash Flow Expands Options
Increased Operating Cash Flow Expands Options Historical Uses of Cash1 Future Potential Uses (Illustrative)2 1Represents 2014 – YTD Q3 2022 capital allocation; 2Subject to maintenance of target leverage ratios; 3Indicates growth and maintenance capital expenditure as well as acquisitions Mindful of
Slide 95: Next Phase Targets
Next Phase Targets
Slide 96: Next Phase Targets
Next Phase Targets OUTGROW MSCI Pursue incremental high margin growth Achieve >60% transaction revenue Increased value-add ratio to 20% of sales $350-400M “MID-CYCLE” EBITDA Gross Margin 21 - 23% Expense-to-Sales 13 - 15% ENVIRONMENT & STEWARDSHIP Publish inaugural Environment, Social & Governance r
Slide 97: Closing Remarks
Closing Remarks
Slide 98: Key Takeaways: Performance vs Market, Why Ryerson
Key Takeaways Performance vs Market Why Ryerson Eddie Lehner President & Chief Executive Officer
Slide 99: Performance vs Market
Performance vs Market Prices in USD at November 4, 2022. CAGR based on share prices appreciation. RYI CAGR 12% S&P 500 CAGR 8% +328% on April 21, 2022 $44.09
Slide 100: Performance vs Peers and Market
Performance vs Peers and Market Prices in USD at November 4, 2022; Service Center peers include: WOR, RS, ZEUS, RUS-TSX, KCO.DE and represents an equally weighted price average composite. CAGR based on share price appreciation. RYI CAGR 12% Service Center Peers CAGR 7%
Slide 101: The time to invest in renewal and modernization of infrastructure is now
The time to invest in the renewal and modernization of our infrastructure is now That goes beyond the clichés of potholes and traffic jams, extending out to the mobility, energy, communications, and wellness infrastructures that we all rely on for every interaction with the world today. Metal provid
Slide 102: Why Ryerson
Why Ryerson Outperformance versus metals peers, distributors and broader market Tailwinds such as on-shoring, infrastructure spend and customers seeking more value-add Re-investing for growth with focus on value-add, bright metals and best digitalized Customer Experience Capital allocation pivot wit
Slide 103: Ryerson Family of Companies
RYERSON FAMILY OF COMPANIES s x: [FARELLO. feay + insusres Guy eazz & Singer a a ee el e < Wy Geese Bie Ws:
Slide 104: Questions & Answers
Questions & Answers
Slide 105: Appendix
Appendix
Slide 106: Non-GAAP Reconciliation
Non-GAAP Reconciliation Note: EBITDA represents net income before interest and other expense on debt, provision for income taxes, depreciation and amortization. Adjusted EBITDA gives further effect to, among other things, reorganization expenses, gain on bargain purchase, gain on sale of assets, los
Slide 107: Non-GAAP Reconciliation: Adjusted Net Income
Non-GAAP Reconciliation: Adjusted Net Income Q3 2022 reported net income1 of $55.1 million reflects a $0.6 million gain on bargain purchase and a $1.5 million loss on the early retirement of debt. Adjusted earnings were $55.8 million in Q3 2022 1Net Income attributable to Ryerson Holding Corporation
Slide 108: Non-GAAP Reconciliation: Annual Adj. EBITDA, excl. LIFO
Non-GAAP Reconciliation: Annual Adj. EBITDA, excl. LIFO
Slide 109: Non-GAAP Reconciliation: Quarterly Adj. EBITDA, excl. LIFO
Non-GAAP Reconciliation: Quarterly Adj. EBITDA, excl. LIFO
Slide 110: Non-GAAP Reconciliation: Net Debt and Leverage
Non-GAAP Reconciliation: Net Debt and Leverage LTM Q3 2022 is trailing twelve-month Adj. EBITDA excluding LIFO as of September 30, 2022 and Next Debt as of September 30,2022
Slide 111: Sales Trends – Product Mix
Sales Trends – Product Mix Source: Ryerson Annual 10k’s
Slide 112: Sales Trends – Shape Mix
Sales Trends – Shape Mix Source: Ryerson Annual 10k’s
Slide 113: Sales Trends – End Markets Mix
Sales Trends – End Markets Mix Source: Ryerson Annual 10k’s
Slide 114: Ryerson Family of Companies
RYERSON FAMILY OF COMPANIES s x: [FARELLO. feay + insusres Guy eazz & Singer a a ee el e < Wy Geese Bie Ws: