This document provides an overview of Ryerson Holding Corporation for investors attending a Jefferies Steel & Metals Summit. It cautions readers that the information does not constitute an investment recommendation. The document discusses Ryerson's business operations, strategic priorities around optimizing customer experience, macroeconomic outlook, financial metrics and priorities around gaining financial strength. It also includes summaries of Ryerson's processing capabilities, mix optimization to drive margins, and annual financial highlights.

1. 1
June 2018
Jefferies Steel & Metals Summit

2. 2
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”) 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 https://ir.ryerson.com/sec-filings/sec-filings/default.aspx. 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, volatile, 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 under 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, 2017, 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.

3. 3
Business Overview

4. 4
Iconic Industrial Metals Company Founded in 1842
Sales of $3.4 billion and shipments
of 2 million tons in 2017
Distributes 65,000+ products to
40,000 manufacturing customers
100 interconnected facilities located
in North America and China
Processes over 75% of the metal we
sell, emphasizing value-added
fabrication services
Processes and distributes carbon,
aluminum, and stainless products

5. 5
Local Presence, National Scale
Intelligently networked locations sharing
knowledge, assets, and inventory at scale
Leading North American metals processor and
distributor optimizing customer supply chains
with tailored solutions, services, and products
24/7 customer access through local sales,
customer development centers, and e-commerce
Differentiated model creates
continuing great customer experiences

6. 6
The DNA of Our Success
SCALE
VALUE-ADD
SPEED CULTURE
ANALYTICS

7. 7
Ryerson is committed to
providing a safe work
environment. Ryerson’s safety
record is consistently better
than the industry, and we
continue to strive towards zero
work place incidents.
Ryerson’s Commitment to Safety
*Injury rate calculated as OSHA incidents per 100 full-time employees
Source: Metals Service Center Institute

8. 8
Ryerson’s Strategic Drivers – Optimizing the Customer Experience
Through Intelligently Networked Service Centers
8
Ryerson Virtual
Warehouse – Mapped
Supply Chains
7
Ryerson E-Commerce
Built-Out & Scaling
5
Long Products Depots
Centers of Excellence
6
Stainless Products
Leadership
4
Develop & Diversify
Vertical Markets
Portfolio
3
Coil & Sheet Franchise
Renewal
1 2
Ryerson Advanced
Processing – Value-Add
Amplifier & Accelerator
Scale Prospecting &
Call Centers

9. 9
MARGIN EXPANSIONOPERATIONAL EFFICIENCY
 Growing share by leveraging
scale in highly fragmented
market
 Multi-channel sales and
distribution platform
 Investment in capabilities
 Bolt-on acquisitions
 Expanding use of analytics
PROFITABLE GROWTH
INDUSTRY-LEADING PERFORMANCE
 Optimize product and customer
mix
 Value-added processing
 Value-driven pricing
 Supply chain innovation,
architecture, and leadership
 Expense and working
capital leadership
 Significant operating leverage
 Best practice talent
management
 Speed
Our Culture: Contributing to our customers’ success

10. 10
Metal Shape Processing
Carbon 50%
Stainless 26%
Aluminum 22%
Fabrication
Burn/Cut
As Is
Flat Long Plate
Delivering Value to Customers:
Understanding the “Elements” Is Vital to Profitable Growth
Percent of 2017 Sales

11. 11
Macro Outlook
Sources: Bloomberg; prices through March 31, 2018; Federal Reserve; industrial production index monthly year-over-year change.
Inflection in U.S.
Industrial ProductionDec.’15 – May‘18
performance
+64%
+65%
+149%
Improved but Volatile Commodity
Prices Since Dec. 31, 2015
0.8
1.0
1.2
1.4
1.6
1.8
2.0
2.2
2.4
2.6
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
PricesIndexedtoDec.31,2015
CRU HRC
LME Nickel
LME Aluminum + Midwest Premium
-3.3
-2.0
-2.1
-2.4
-1.7
-1.5
-0.8
-1.2
-1.3
-1.2
-0.8
-0.4
0.8
0.0
0.4
1.4
1.9
2.1
1.8
1.4
1.1
1.2
2.7
3.4
2.9
2.8
3.6
3.6
3.6
3.5
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18

12. 12
Source: Average annual shipments calculated using monthly Metals Service Center Institute data.
MSCI Demand Gap Persisting
U.S. Carbon and Stainless Average Monthly Shipments
2.0
2.5
3.0
3.5
4.0
4.5
5.0
AverageMonthlyTonsinMillions
Tons Per Month
Jan. '93 - Oct. '08 = 4.2M/mo.
Nov. '08 - Present = 3.2M/mo.

13. 13
Commercial
Ground
Transportation,
16%
Metal Fabrication
& Machine Shops,
20%
Industrial
Machinery &
Equipment, 18%
Consumer
Durable, 11%
HVAC, 7%
Construction
Equipment, 9%
Food
Processing
& Ag., 10%
Oil &
Gas, 5%
All
Other,
4%
Diverse End-Markets
Percentages are based on 2017 sales as disclosed in Ryerson’s Annual
Report on Form 10-K for the year ended December 31, 2017.

14. 14
3.78%
4.21%
16.4%
17.3%
2014 2017
RYI U.S. MSCI Market Share
Gross Margin
Sources: Metals Service Center Institute and IBISWorld
Estimated market data based on Ryerson’s analysis of Metals Service Center Institute data.
Highly fragmented
U.S. industry with:
• 7,000 service centers
• 1 million customers
• 30 million transactions
per year
Driving Market Share Growth

15. 15
Machining and
Forming Plate
Painting
Welding
Beveling
Ryerson’s Processing Capabilities = Value Add
Bending
Beveling
Blanchard Grinding
Blasting
Burning
Centerless Grinding
Cutting-to-Length
Drilling
Embossing
Flattening
Forming
Grinding
Laser Cutting
Machining
Notching
Painting
Perforating
Precision Blanking
Polishing
Profile Cutting
Punching
Rolling
Sawing
Scribing
Shearing
Slitting
Stamping
Tapping
Threading
Toll Processing
Turning
Water Jet Cutting
WeldingImage: Converter system for packaging equipment customer
Fully integrated into our customer’s supply chain delivering
value-add products that exceed our customer’s expectations

16. 16
$240 $291$263 $301
15.2%
17.9%
2010 2017
Gross Profit per Ton
Gross Profit Per Ton ($M)
Gross Profit Per Ton, excl. LIFO ($M)
Gross Margin, excl. LIFO
Optimizing Mix to Drive Margin Expansion
Ryerson processes over 75% of
the metal we sell, with a greater
emphasis on value-added
fabrication services
6.7% 9.8%
2010 2017
Fabrication % of Sales
$M, Tons 000's 2010 2017 % Change
Tons Sold 2,252 2,000 -11%
Gross Profit 540 583 8%
Gross Margin 13.9% 17.3% 340 bps
LIFO Expense 52 19 -63%
Gross Profit, excl. LIFO 592 602 2%
Gross Margin, excl. LIFO 15.2% 17.9% 270 bps

17. 17
Shifting Enterprise Value to Equity Holders
Ryerson has improved
our Net Debt to EBITDA
ratio, working toward
our goal of 3X
$M 2017 TTM Q1 '18
Adj. EBITDA, excl. LIFO 184 192
Ending Net Debt 968 967
Net Debt to Adj. EBITDA, excl. LIFO 5.3X 5.0X
TTM - Trailing 12 month number
5.3X
5.0X
2017 TTM Q1 '18
Net Debt to Adj. EBITDA, excl. LIFO

18. 18
Financial Overview

19. 19
20%
Gross Margins,
excl. LIFO
3x
Debt /
EBITDA
Ryerson Financial Priorities
Gaining Financial Strength Through Continuously Improving
Operating and Financial Performance
70-75
Days of
Supply

20. 20
Annual Financial Highlights
A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix.
$178.0 $184.1
$18.7 $17.1
2016 2017
Adj. EBITDA, excl. LIFO ($M)
Net Income Attributable to Ryerson Holding Corporation ($M)
• Adj. EBITDA, excluding LIFO
increased 3.4% to $184M in 2017
• Average selling prices per ton
increased 11.9%, tons sold
increased 5.1%, and revenues grew
by 17.7% vs. 2016
• Operating expenses as a percentage
of sales declined to 14.0% compared
to 15.3% in 2016
• Lowered days of supply to 71 days
in 2017 compared to 76 days in 2016

21. 21
Proven Inventory & Operational Efficiency
Industry Leadership
Competitor averages are based on Ryerson’s analysis of financial information disclosed in peer groups’ annual reports.
Ryerson’s peer group includes Reliance Steel & Aluminum, Olympic Steel, Kloeckner Metals, and Russel Metals.
Expense % excluding D&A and one-time items is a non-GAAP financial measure. A reconciliation of this non-GAAP financial measure to the comparable GAAP measure is included in the Appendix.
Ryerson Competitor Averages
Expense Percentage of Sales
Excluding D&A and One-Time Items
Days of Supply

22. 22
First Quarter 2018 Financial Highlights
A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix.
$54.3
$51.5
$37.7
$40.6
$62.2
$14.8
$0.6 $1.7 $0.0
$10.4
Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18
Adj. EBITDA, excl. LIFO ($M)
Net Income Attributable to Ryerson Holding Corporation ($M)
• Achieved Adjusted EBITDA, excluding
LIFO of $62M, compared to $54M in Q1
‘17
• Average selling prices per ton
increased 9.2%, tons sold increased
5.8%, and revenues grew by 15.6%
compared to Q1 ‘17
• Ryerson North American volume
growth of 5.6% outpaced MSCI growth
of 2.6%
• Achieved gross margin of 17.5%,
increasing gross margin, excl. LIFO by
110 bps to 18.9% compared to Q4 ’17

23. 23
Gross Profit per Ton Expansion
with Improving Industry Conditions
Ryerson’s strategic plan
execution to optimize our
margins coupled with
improved industrial
demand and pricing
conditions experienced in
the past 2 quarters
increased our gross profit
per ton sold in Q1 ‘18.
$323 $271 $282 $290 $313$322 $298 $278 $308 $338
Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18
Gross Profit Per Ton ($M) Gross Profit Per Ton excl. LIFO ($M)
A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix.

24. 24
Ryerson Enters Into Agreement to Acquire
Central Steel & Wire Company
• Central Steel & Wire has a rich 109
year history with a loyal customer
base and a strong brand name
• Complimentary product offerings,
60% of which are long, tube, and
plate products
• Synergy opportunities from
Ryerson’s industry leading working
capital and expense metrics,
leveraged across a larger
procurement base

25. 25
$1,242
$1,046
Dec. 31, 2014 Dec. 31, 2017
Deleveraging Increases Value for All Investors
Total Debt ($M)
Reduced total
debt ~$200M
since IPO
Annual Fixed Cash
Commitments ($M)
Cash Interest $ 87M
Pension and OPEB 35M
Maintenance Capital
Expenditures
15M
Taxes and Other 8M
Annual Fixed Cash
Commitments
$ 145M

26. 26
Deferred Retiree Benefit Liability Declines Since 2015
Pension and OPEB
liability has declined 27%
over the past 2 years
driven by stronger
pension asset returns and
strategic participant
reductions
Sources: Federal Reserve treasury rates; Yahoo Finance daily adjusted stock price

27. 27
Investing Drives Increased Free Cash Flow
• $50 million in capital
investment since 2016 to
expand value-added
capabilities
• Enhanced intelligent systems
to connect people, supply
chains, inventory, fixed
assets, and logistics
• Nine bolt-on acquisitions
since 2010

28. 28
Liquidity to Fund Operations and Investments
$162.9
264
323
25
19
49
39$338
$381
Dec. 31, 2017 Mar. 31, 2018
North American Availability Foreign Availability Cash & Equivalents
Liquidity ($M)
Ryerson’s ability to maintain
ample liquidity allows us to
invest in working capital to
maintain high service levels
for our customers.

29. 29
Conclusion

30. 30
Industry Paradigm Shift to a Singularity – Networked and Intelligent
Great
Customer
Experiences
Speed
Attributes
Feedback/
Analytics
Human
Relationship
Culture
Digitalization
Systems
Knowledge
Capabilities

31. 31
Say Yes, Figure It Out
Our Commitment, Our Culture

32. 32
Appendix

33. 33
Metal Service Center Supply Chain
CUSTOMERS
• Purchase smaller quantities
• Require a variety of products
and services
• Can leverage Ryerson to reduce
processing and inventory
investment needs
SUPPLIERS
• Manufacture metals
• Produce & ship large volumes
• Have long lead times with high
variance delivery times
RYERSON
• 65,000+ aluminum, carbon, and
stainless products
• Processes 75% of products sold
• Delivers same/next day
• Provides product and
end-market expertise
• Purchases in scale; ship
smaller quantities

34. 34
Experienced Management Team
Executive Title
Years in
Position
Years at
Ryerson
Years in
Industry
Eddie Lehner* President & Chief Executive Officer 3 6 29
Erich Schnaufer** Chief Financial Officer 3 13 13
Mark Silver
Executive Vice President, General
Counsel & Secretary
5 5 5
Kevin Richardson President - South / East Region 11 33 33
Mike Burbach President - North / West Region 11 34 34
Leong Fang
Executive Vice President - Global
Operations and Chief Executive Officer -
Asia
5 5 34
*Eddie Lehner previously served as Ryerson's Executive Vice President and Chief Financial Officer.
**Erich Schnaufer previously served as Ryerson's Controller and Chief Accounting Officer.

35. 35
20.0%
17.3%
19.7%
17.9%
2016 2017
Gross Margin %
Gross Margin, excl. LIFO %
13.8%
12.6%
2016 2017
Annual Financial Highlights
A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in this Appendix.
1,903
2,000
2016 2017
Tons Sold (000’s)
$1,503
$1,682
2016 2017
Average Selling Price Per Ton
Gross Margin & Gross Margin, excl. LIFO Expense Percentage of Sales excl. D&A

36. 36
19.7%
16.0%
16.8%
16.8%
17.5%
19.6%
17.7%
16.6%
17.8%
18.9%
Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18
Gross Margin %
Gross Margin, excl. LIFO %
13.3%
12.0% 12.4%
13.4%
12.6%
Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18
Quarterly Financial Highlights
A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in this Appendix.
497 518 515
470
526
Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18
Tons Sold (000’s)
$1,639
$1,690 $1,678
$1,725
$1,790
Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18
Average Selling Price Per Ton
Gross Margin & Gross Margin, excl. LIFO Expense Percentage of Sales excl. D&A

37. 37
Industry Math: 2017 MSCI Shipped Tonnage Mix
2017
Industry Tons Mix
Total Shapes 100%
Flat 68%
Carbon Flat Rolled 63%
Stainless Sheet & Coil 3%
Aluminum Sheet & Coil 2%
Long 20%
Plate 12%
Carbon Plate 10%
Stainless Plate 1%
Aluminum Plate 1%

38. 38
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 foreign currency
transaction gains and losses. We believe that the presentation of EBITDA, Adjusted EBITDA, and Adjusted EBITDA, excluding LIFO expense
(income), net, 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), net, 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), net, 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), net, targets. We also use EBITDA, Adjusted EBITDA,
and Adjusted EBITDA, excluding LIFO expense (income), net, to benchmark our operating performance to that of our competitors. EBITDA,
Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), net 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), net, is necessarily an indication of whether cash flow will be
sufficient to fund our cash requirements. This release also presents gross margin, excluding LIFO expense (income), net, which is calculated
as gross profit plus LIFO expense (or minus LIFO income), net, divided by net sales. We have excluded LIFO expense (income), net 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. Our definitions of EBITDA, Adjusted EBITDA, Adjusted EBITDA,
excluding LIFO expense (income), net, gross margin, excluding LIFO expense (income), net, and Adjusted EBITDA, excluding LIFO expense
(income), net, as a percentage of sales may differ from that of other companies.
Non-GAAP Reconciliation

39. 39
($M) 2013 2014 2015 2016 2017
Net Sales 3,460.3 3,622.2 3,167.2 2,859.7 3,364.7
Gross Profit 616.6 593.8 567.7 570.6 582.5
Gross Profit per Ton 302 293 299 300 291
Gross Margin 17.8% 16.4% 17.9% 20.0% 17.3%
LIFO Expense (Income) (33.0) 42.3 (59.5) (6.6) 19.9
Gross Profit, excluding LIFO 583.6 636.1 508.2 564.0 602.4
Gross Profit, excluding LIFO per Ton 286 314 268 296 301
Gross Margin, excluding LIFO 16.9% 17.6% 16.0% 19.7% 17.9%
Warehousing, delivery, selling, general, and administrative expenses 480.1 509.2 450.8 436.4 472.5
IPO-related expenses
- 32.7 - - -
Depreciation and amortization expense 46.6 45.6 43.7 42.5 47.1
Warehousing, delivery, selling, general, and administrative expenses
excluding depreciation and amortization and IPO-related expenses 433.5 430.9 407.1 393.9 425.4
Expense excluding depreciation and amortization, impairment, restructuring, and
IPO-related expenses % of Net Sales 12.5% 11.9% 12.9% 13.8% 12.6%
Net Income (loss) attributable to Ryerson Holding Corporation
127.3 (25.7) (0.5) 18.7 17.1
Interest and other expense on debt
110.5 107.4 96.3 89.9 91.0
Provision (benefit) for income taxes
(112.3) (0.7) 3.7 7.2 (1.3)
Depreciation and amortization expense
46.6 45.6 43.7 42.5 47.1
EBITDA 172.1 126.6 143.2 158.3 153.9
Reorganization 11.5 5.4 9.7 6.6 4.1
Gain on sale of assets - (1.8) (1.9) - -
Gain on settlements - (0.4) (4.4) - -
Advisory service fee 5.0 28.3 - - -
(Gain) loss on retirement of debt - 11.2 (0.3) 8.7 -
Foreign currency transaction (gains) losses (3.7) (5.3) (1.5) 3.9 2.0
Impairment charges on assets 10.0 - 20.0 5.2 0.2
Purchase consideration and other transaction costs 3.5 11.2 3.7 1.5 3.9
Other adjustments 4.2 - - 0.4 0.1
Adjusted EBITDA 202.6 175.2 168.5 184.6 164.2
LIFO Expense (Income) (33.0) 42.3 (59.5) (6.6) 19.9
Adjusted EBITDA, excluding LIFO 169.6 217.5 109.0 178.0 184.1
Adjusted EBITDA Margin, excluding LIFO 4.9% 6.0% 3.4% 6.2% 5.5%
Non-GAAP Reconciliation: Annual

40. 40
Non-GAAP Reconciliation: Quarterly
($M) Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18
Tons Sold (000's) 497 518 515 470 526
Net Sales 814.5 875.4 864.2 810.6 941.3
Gross Profit 160.6 140.4 145.0 136.5 164.9
Gross Profit per Ton 323 271 282 290 313
Gross Margin 19.7% 16.0% 16.8% 16.8% 17.5%
LIFO Expense (Income) (0.7) 14.2 (1.7) 8.1 13.3
Gross Profit, excluding LIFO 159.9 154.6 143.3 144.6 178.2
Gross Profit, excluding LIFO per Ton 322 298 278 308 338
Gross Margin, excluding LIFO 19.6% 17.7% 16.6% 17.8% 18.9%
Warehousing, delivery, selling, general, and administrative expenses 119.4 116.7 119.2 121.7 130.5
Depreciation and amortization expense 10.7 11.5 11.9 13.0 11.5
Warehousing, delivery, selling, general, and administrative expenses
excluding depreciation and amortization 108.7 105.2 107.3 108.7 119.0
Expense excluding depreciation and amortization, impairment, and restructuring
% of Net Sales 13.3% 12.0% 12.4% 13.4% 12.6%
Net Income attributable to Ryerson Holding Corporation 14.8 0.6 1.7 - 10.4
Interest and other expense on debt
21.8 22.8 23.2 23.2 23.3
Provision (benefit) for income taxes
6.8 (0.8) (0.7) (6.6) 4.1
Depreciation and amortization expense
10.7 11.5 11.9 13.0 11.5
EBITDA 54.1 34.1 36.1 29.6 49.3
Reorganization 0.5 1.4 0.9 1.3 0.7
Foreign currency transaction (gains) losses (0.3) 0.7 1.4 0.2 (2.0)
Impairment charges on assets - 0.2 - - -
Purchase consideration and other transaction costs 0.7 0.9 1.0 1.3 1.5
Other adjustments - - - 0.1 (0.6)
Adjusted EBITDA 55.0 37.3 39.4 32.5 48.9
LIFO Expense (Income) (0.7) 14.2 (1.7) 8.1 13.3
Adjusted EBITDA, excluding LIFO 54.3 51.5 37.7 40.6 62.2
Adjusted EBITDA Margin, excluding LIFO 6.7% 5.9% 4.4% 5.0% 6.6%

41. 41
Sources: Bloomberg; CRU
Metal Commodity Price Movements Impact LIFO Expense
Ryerson LIFO Detail ($M) Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Q2 '17 Q3 '17 Q4 '17
LIFO Expense (Income) $9 $14 $19 $0 ($12) ($37) ($30) ($18) ($27) $7 $25 $2 $23 $14 ($2) $8
Lower of Cost or Market Adjustment 0 0 0 0 0 0 9 29 12 (14) (24) 11 (24) 0 0 0
LIFO, Net 9 14 19 0 (12) (37) (21) 11 (15) (7) 1 14 (1) 14 (2) 8
Commodity Price Movements Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Q2 '17 Q3 '17 Q4 '17
CRU HRC ($/ton) $655 $671 $668 $634 $536 $454 $459 $387 $398 $562 $592 $521 $623 $618 $620 $609
LME Nickel ($/lb.) 6.64 8.37 8.42 7.17 6.51 5.91 4.78 4.27 3.86 4.00 4.66 4.90 4.66 4.20 4.77 5.25
Midwest Aluminum ($/lb.) 0.97 1.00 1.11 1.12 1.05 0.93 0.80 0.76 0.77 0.79 0.80 0.85 0.94 0.96 0.99 1.05
Weighted Avg. Commodity Pricing Change* 2% 9% 2% -6% -12% -13% -8% -12% -1% 22% 7% -3% 11% -2% 4% 3%
Weighted Avg. Commodity Pricing Change Shifted 1 Qtr. Forward (i.e.
Q4 '17 is Q3 '17 data)
1% 2% 9% 2% -6% -12% -13% -8% -12% -1% 22% 7% -3% 11% -2% 4%
*Weighted using 50% CRU HRC, 25% LME Nickel, & 25% Midwest Aluminum to reflect Ryerson's approximate product mix
$9 $14 $19 $0
($12) ($37) ($30) ($18) ($27)
$7 $25 $2 $23 $14
($2)
$8
1%
2%
9%
2%
-6%
-12%
-13%
-8%
-12%
-1%
22%
7%
-3%
11%
-2%
4%
Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Q2 '17 Q3 '17 Q4 '17
LIFO Expense (Income) ($M)
Weighted Avg. Commodity Pricing Change*
Weighted Avg. Commodity Pricing Change Shifted 1 Qtr. Forward (i.e. Q4 '17 is Q3 '17 data)

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