BMO Capital Markets

1B M O M E T A L S A N D M I N I N G C O N F E R E N C E1
B M O
C a p i t a l M a r k e t s
2 5 T H G L O B A L M E T A L S A N D M I N I N G C O N F E R E N C E
M A R C H 1 , 2 0 1 6

IMPORTANT INFORMATION ABOUT RYERSON HOLDING CORPORATION
These materials do not constitute an offer or solicitation to purchase or sell securities of Ryerson Holding Corporation and no investment decision should be made
based upon the information provided herein. Ryerson strongly urges you to review its filings with the Securities and Exchange Commission, which can be found at
ir.ryerson.com/financial-info/sec-filings/. This site also provides additional information about Ryerson.
SAFE HARBOR PROVISION
Certain statements made in this presentation and other written or oral statements made by or on behalf of the company constitute “forward-looking statements”
within the meaning of the federal securities laws, including statements regarding our future performance, as well as management’s expectations, beliefs, intentions,
plans, estimates or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “may,”
“estimates,” “will,” “should,” “plans” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The
company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that
actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact the metals
distribution industry and our business are: the cyclicality of our business; the highly competitive and fragmented market in which we operate; fluctuating metal prices;
our substantial indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational
risks associated with our operations located inside and outside of the United States; work stoppages; obligations regarding certain employee retirement benefit plans;
the ownership of a majority of our equity securities by a single investor group; currency fluctuations; and consolidation in the metals producer industry. Forward-
looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under “Risk Factors” in our annual
report on Form 10-K for the year ended December 31, 2014 and in our other filings with the Securities and Exchange Commission. Moreover, we caution against
placing undue reliance on these statements, which speak only as of the date they were made. The company does not undertake any obligation to publicly update or
revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.
NON-GAAP MEASURES
Certain measures contained in these slides or the related presentation are not measures calculated in accordance with generally accepted accounting principles
(GAAP). They should not be considered a replacement for GAAP results. Non-GAAP financial measures appearing in these slides are identified in the footnotes. A
reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures is included in the Appendix. A copy of this presentation is
available on our website ir.ryerson.com, in the “Events & Presentations” section.

Business Overview
E D D I E L E H N E R
P R E S I D E N T A N D C H I E F E X E C U T I V E O F F I C E R

Ryerson
• One of North America’s
largest metals processors
and distributors, with
TTM sales of $3.4 billion
• More than 100 locations
in U.S., Canada, Mexico,
China and Brazil
• Founded in 1842; relisted
on NYSE with IPO in
August 2014
• Distribute more than 70,000
products to 35,000 active customers
• Industrial metals:
carbon, stainless and aluminum
• Primary shapes:
sheet, plate and long bar

Generating counter cyclical cash flow and deleveraging balance sheet
Executive Summary
Industry-leading expense and working capital management
Successful shift to higher value mix and value-added processing
Transformation creating a stronger company1
2
3
Building sustainable competitive advantages to fuel growth4
5

Structural cost reduction
Expense control leadership
Working capital leadership
Best practice talent management
MARGIN EXPANSIONOPERATIONAL EFFICIENCY
Leveraging scale in highly
fragmented market
Multi-channel sales and
distribution platform
Expansion of capabilities
and greenfield investment
Bolt-on acquisitions
PROFITABLE GROWTH
Transformation Driving
Industry-Leading Performance
Shift product mix
Optimize customer mix
Value-driven pricing and
value-added processing
Supply chain innovation,
architecture and leadership

Weak Service Center Shipments*
Current industry shipments below pre- and post-recession averages
*Source: MSCI
Monthlyshipments
toninthousands

PMI index contracted in December
Demand Uncertainty*
*Source: Institute for Supply Management

0.450
0.550
0.650
0.750
0.850
0.950
1.050
1.150
1.250
PriceindextoJun.2014
CRU HRC LME Nickel Midwest Aluminum
Persistent Deflation in 2015
Deflationary trends have persisted for industrial metals in 2015, with
average prices down 40% from 4Q, ‘14 to 4Q, ‘15

MARGIN EXPANSION
fragmented market
Multi-channel sales and distribution
platform
PROFITABLE GROWTH
Shift product mix
Value-driven pricing and value-
added processing
OPERATIONAL EFFICIENCY

16.3% 16.4%
17.7%
17.6%
10.5% 11.5%
12.5%
11.9%
Expenses as a percent of sales(1)
2011 2012 2013 2014 2011 2012 2013 2014
74
82
84 82
95
110 109
107
Working capital management
Inventory days of supply (DOS)
Proven Operational Efficiency
RYERSON COMPETITOR AVERAGECompetitor averages are based on Ryerson’s analysis of financial information disclosed in competitors’ SEC filings.
Competitor average includes Reliance Steel & Aluminum, A.M. Castle, Olympic Steel, Kloeckner Metals and Russel Metals.
1. Expenses exclude depreciation and amortization, impairments, restructuring, and other one-time items including Ryerson’s one-time IPO expenses of $32.7 million. A reconciliation of these non-GAAP financial measures to
comparable GAAP measures is included in the Appendix.

fragmented market
Multi-channel sales and distribution
platform
PROFITABLE GROWTHMARGIN EXPANSION
Shift product mix
Value-driven pricing and
value-added processing

Higher Value Mix to Improve Margins
HIGHER MARGIN MIX
• Optimize shape mix for
margin, working capital
investment and cost to serve
• Increase higher margin
value-added processing and
fabrication
• Expand higher margin
transactional businesses
PRODUCT MIX (percentage of sales)
Source: SEC filings and company estimates.
Service
Center
12 Multi-
Markets
~
~
~
31% 42%
65%
56%
15%
19%
16%
23%
4% 2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2010 2014
FLAT PLATE
LONG OTHER

MARGIN EXPANSION
Shift product mix
Value-driven pricing and value-
added processing
fragmented market
Multi-channel sales and
distribution platform
PROFITABLE GROWTH

Leveraging Scale and Integrated Network
Service
Center
12 Multi-
Markets
Ryerson Integrated
Network of 100+
Locations
BENEFITS
• Better asset utilization:
• Shared and optimized inventory
• Shared processing equipment
• Shared human resources
• More responsive customer service
and prospecting:
• Local service center
• Ryerson.com / e-commerce
• After hours call centers

• More than $100 million growth capex
since 2010, expanding value-added capabilities
• Six bolt-on acquisitions since 2010
• Accretive to earnings and margins
• Focus on value-added processing
• Broaden transactional customer portfolio
Investing in the Businesses

Impact of Transformation: Performance Versus Peers
Gross margin, excluding LIFO Adjusted EBITDA margin, excluding LIFO
Gross margins, excluding LIFO and Adjusted EBITDA margin, excluding LIFO are non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to comparable GAAP measures is included in the Appendix.
Competitor averages are based on Ryerson’s analysis of financial information disclosed in competitors’ SEC filings.
Competitor average includes Reliance Steel & Aluminum, A.M. Castle, Olympic Steel, Kloeckner Metals and Russel Metals.
Ryerson has demonstrated Gross and EBITDA margin progress on an absolute basis and relative to public peers
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2010 2011 2012 2013 2014
15.2% 15.0%
16.9%16.1%
17.6%
22.4% 22.1% 21.4% 21.6% 21.3%
RYERSON COMPETITOR AVERAGE
0.0%
1.0%
2.0%
3.0%
4.0%
7.0%
2010 2011 2012 2013 2014
3.6%
4.7% 4.9%5.0%
6.0%
4.7%
5.8%
4.8%
3.9%
3.7%
RYERSON COMPETITOR AVERAGE
5.0%
6.0%

RYERSON
Leveraging Scale and
Integrated Network
G L O B A L S C A L E
• Global capabilities in
local markets
“ O N E R Y E R S O N ”
• Single franchise / one brand
• Great customer experiences
C O N N E C T I V I T Y
• Technical knowledge
• Processing and fabrication
• Logistics
• Inventory services
M U LT I - C H A N N E L S A L E S
• Local sales and service
• Customer service prospecting centers
• Ryerson.com /e-commerce
Ryerson’s Differentiated Model

Financial Overview
E R I C H S C H N A U F E R
C H I E F F I N A N C I A L O F F I C E R

Ryerson Financial Priorities
Reduce balance sheet leverage
Support corporate transformation and weather current
industry conditions
1
2
Invest in high return growth capital projects and attractive
“bolt-on” companies
3

• Generate strong countercyclical cash flow
• Reduce debt
• Maintain positive EBITDA
• Announced additional action in November 2015, with plans to achieve annualized
expense savings of $20 million by mid-2016 and realize more than $10 million from sale
of non-core assets
• Incremental cash flow in 2016 vs. 2015:
• Expect $20 million reduction in pension contribution
• Expect $5 million reduction in cash interest expense
Strong Execution in a “Recessionary” Environment

Nine Months of 2015: Impacted by Deflationary Pressure
Net income attributable to Ryerson Holding Corp. ($M) Adjusted EBITDA, excluding LIFO
250
200
150
100
50
0
$177.4
$94.8
30
20
10
5
0
-5
-10
-20
-30
9 mos. 2014 9 mos. 2015
$1.6
$20.02
9 mos. 2014 9 mos. 2015
Adjusted EBITDA, excluding LIFO, is a non-GAAP financial measure. A reconciliation of this non-GAAP
financial measure to the comparable GAAP measure is included in the Appendix.
.
($30.5)1
1 Includes IPO-related and debt redemption expenses of $37.3 million, after tax, in the first nine months of 2014.
2 Includes impairment charges on assets of $9.1 million, after tax, in the first nine months of 2015.

Counter-Cyclical Cash Flow and Debt Reduction
First Nine Months of 2015Cash Flow From Operations ($M)
$162.9
• Repurchased
$60 million
principal amount of long-term notes
• Reduced total debt
$165 million or 13%
($34.7)
200
150
100
50
0
-50
9 mos. 2014 9 mos. 2015
$192.6

Conclusion
E D D I E L E H N E R
P R E S I D E N T A N D C H I E F E X E C U T I V E O F F I C E R

Generating counter cyclical cash flow and deleveraging balance sheet
Conclusion
Industry-leading expense and working capital management
Successful shift to higher value mix and value-added processing
Transformation creating a stronger company1
2
3
Building sustainable competitive advantages to fuel growth4
5

Appendix

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, impairment charges on
assets, reorganization expenses and the payment of management fees. We believe that the presentation of EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), provides useful information
to investors regarding our operational performance because they enhance an investor’s overall understanding of our core financial performance and provide a basis of comparison of results between current, past and future
periods. We also disclose the metric adjusted EBITDA, excluding LIFO expense (income), to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories. EBITDA,
Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), are three of the primary metrics management uses for planning and forecasting in future periods, including trending and analyzing the core
operating performance of our business without the effect of U.S. generally accepted accounting principles, or GAAP, expenses, revenues and gains (losses) that are unrelated to the day to day performance of our business.
We also establish compensation programs for our executive management and regional employees that are based upon the achievement of pre-established EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO
expense (income), targets. We also use EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), to benchmark our operating performance to that of our competitors. EBITDA, Adjusted EBITDA
and Adjusted EBITDA, excluding LIFO expense (income) do not represent, and should not be used as a substitute for, net income or cash flows from operations as determined in accordance with generally accepted
accounting principles, and neither EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), is necessarily an indication of whether cash flow will be sufficient to fund our cash requirements.
This presentation also presents gross margin, excluding LIFO expense (income), which is calculated as gross profit plus LIFO expense (or minus LIFO income), divided by net sales. We have excluded LIFO expense
(income) from the gross margin and Adjusted EBITDA as a percentage of net sales metrics in order to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories
as we do. We also have disclosed the metric warehousing, delivery, selling, general and administrative expenses excluding depreciation and amortization and IPO-related expenses, to provide a means of comparison to our
prior periods that do not include IPO-related expenses. Our definitions of EBITDA, Adjusted EBITDA, Adjusted EBITDA, excluding LIFO expense (income), gross margin, excluding LIFO expense (income), and Adjusted
EBITDA, excluding LIFO expense (income), as a percentage of sales may differ from that of other companies.
27
Non-GAAP Reconciliation

Net Sales
Gross Profit
LIFO Expense (Income)
Depreciation and amortization expense
Warehousing, delivery, selling, general and administrative
expenses excluding Depreciation and Amortization and IPO-related expenses
Expense excluding Depreciation and Amortization, impairment, restructuring, and
IPO-related expenses % of Net Sales
Net Income (loss) attributable to Ryerson Holding
Interest and other expense on debt
Provision (benefit) for income taxes
EBITDA
Reorganization
Advisory Service Fee
Loss on Retirement of Debt - -
Foreign Currency Transaction (Gains) Losses 2
Impairment Charges on Fixed Assets and Goodwill
Gain on Bargain Purchase
Purchase Consideration -
Other Adjustments 1
Adjusted EBITDA
Adjusted EBITDA, excluding LIFO
Adjusted EBITDA Margin, excluding LIFO
Gross Profit, excluding LIFO
Gross Margin, excluding LIFO
Warehousing, delivery, selling, general and administrative expenses
2012
$4,025
710
(63)
47
$462
11.5%
$47
127
(6)
47
$215
6
5
33
1
-
4
(1)
$265
(63)
$202
5.0%
$647
16.1%
509
IPO-related expenses
2010
$3,896
$540
52
38
$469
12.0%
($104)
108
13
38
$55
19
5
-
3
1
-
-
(2)
$81
52
$133
3.4%
$592
15.2%
$507
- -
2013
$3,460
617
(33)
47
$434
12.5%
$127
110
(112)
47
$172
12
5
(4)
10
-
4
4
$203
(33)
$170
4.9%
$584
16.9%
480
-
2011
$4,730
659
48
43
$497
10.5%
($8)
123
(11)
43
$147
18
5
1
9
(6)
$175
48
$223
4.7%
$707
15.0%
540
-
($M)
$3,622
594
42
46
$430
11.9%
$(26)
107
(1)
46
$127
5
28
(5)
-
11
(2)
$175
42
$218
6.0%
11
2014
$636
17.6%
509
33
-
Figures may not add due to rounding.

Net Income attributable to Ryerson Holding
Interest and other expense on debt
Provision for income taxes
EBITDA
Reorganization
Advisory Service Fee
(Gain) Loss on Retirement of Debt 11.2
Foreign Currency Transaction Gains (1.2)
Impairment Charges on Fixed Assets and Goodwill
Purchase Consideration
Other Adjustments (1.4)
Adjusted EBITDA
Adjusted EBITDA, excluding LIFO
9 mos. 2015
$20.0
74.5
16.1
33.9
$144.5
5.0
(0.3)
14.2
3.1
$165.1
(70.3)
$94.8
9 mos. 2014
$(30.5)
82.8
0.7
34.0
$87.0
3.1
28.3
(2.9)
$135.4
42.0
$177.4
($M)
10.1
-
-
(0.2)

Net Debt to Adjusted EBITDA, excl. LIFO Reconciliation
Figures may not add due to rounding.
Cash and Cash Equivalents
Marketable Securities
Total Debt
Net Debt
Adjusted EBITDA,
excluding LIFO
Net Debt to Adjusted
EBITDA, excluding LIFO
$63
20
1,211
$1,128
$133
8.5x
2010 2011($M) 2012 2013
$62
10
1,316
$1,244
$223
5.6x
$71
21
1,305
$1,214
$202
6.0x
$74
21
1,295
$1,200
$170
7.1x
$60
11
1,259
$1,188
$218
5.5x
2014
$48
3
1,094
$1,043
$135
7.7x
Trailing 12-mos.
(as of 9/30/15)

Capitalization Figures may not add due to rounding.
Cash and Cash Equivalents
Marketable Securities
Availability under Revolver
and Foreign Debt Facilities
Total Liquidity
ABL Revolver due 2017
Senior Secured Notes due 2017
Senior Notes Due 2018
Foreign Debt
Total Debt
Net Debt
3
$269
$331 2.5x
570 4.2
170 1.3
23 0.2
$1,094 8.1
$1,043 7.7
Trailing 12-mos. Adj. EBITDA,
excl. LIFO Multiple
(as of 9/30/15)
$48
218
9/30/15
Book Value
($M)
No debt maturiƟes unƟl 2017 │ Flexible debt covenant package

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