Worthington Steel, Inc.

Manufacturing Facilities

Wholly owned and Consolidated Joint Ventures

Entity · Type · Location · Number of facilities · Leased · Owned

Worthington Steel (1) · Manufacturing · OH (5), IL, IN, KY, MI, NY,Canada, China, India, Mexico · 14 · 2 · 12

TWB · Manufacturing · OH (2), MI (2), TN (2), KY,Mexico (3), Canada · 11 · 10 · 1

Sitem Group · Manufacturing · Italy (3), France, Germany, Slovakia, Switzerland · 7 · 2 · 5

WSCP · Manufacturing · OH · 1 · – · 1

Spartan · Manufacturing · MI · 1 · – · 1

Total · 34 · 14 · 20

Facility information is as of May 31, 2026, and does not include the acquisition activity subsequent to fiscal 2026.

Unconsolidated Joint Venture

JointVenture · Type · Location · Number of facilities · Leased · Owned

Serviacero Worthington · Manufacturing · Mexico (3) · 3 · – · 3

Total · 3 · – · 3

• Kloeckner Metals P.R., Inc. Delaware⁴
• Kloeckner Metals Relief Fund, Inc. Delaware⁴
• Kloeckner Metals Service Centers de Mexico, S. de R.L. de C.V. Mexico⁴
• Kloeckner Specialty Metals de Mexico, S. de R.L. de C.V. Mexico⁴
• Klöckner & Co Center of Excellence GmbH Germany⁴
• Klöckner & Co Financial Services S.A. Luxembourg⁴
• Klöckner & Co SE Germany⁴
• Klöckner Stahl und Metall Ges.m.b.H. Austria⁴
• Klöckner USA Holding Inc. Delaware⁴
• Müller Wüst AG Switzerland⁴
• NMML Asia, Limited Hong Kong⁴
• ODS Belgium B.V. Belgium⁴
• ODS Metering Systems Asia Pacific Pte. Ltd. Singapore⁴
• ODS Metering Systems B.V. Netherlands⁴
• ODS Middle East FZE United Arab Emirates⁴
• ODS Saudi Co. LLC Saudi Arabia⁴
• ODS do Brasil Sistemas de Medicao Ltda. Mexico⁴
• ODS for Maintenance Saudi Arabia⁴
• PC-Tech S.A. Switzerland⁴
• Paua Ventures Co-Invest 2 GmbH & Co. KG Germany⁴
• ProCoil Company, LLC Delaware⁴
• S.I.T.E.M. S.p.A. Italy⁴
• Serviacero Planos, S. de R.L. de C.V. Mexico⁴
• Simfloc AG Switzerland⁴
• Sitem Slovakia spol. s r.o. Slovakia⁴
• Spartan Steel Coating, L.L.C. Michigan⁴
• SquareOne Fonds 2 GmbH & Co. KG Germany⁴
• Stanzwerk AG Switzerland⁴
• T do B, LLC Illinois⁴
• TWB Company, L.L.C. Michigan⁴
• TWB Industries, S.A. de C.V. Mexico⁴
• TWB de Mexico, S.A. de C.V. Mexico⁴
• TWB of Ohio, Inc. Ohio⁴
• Tailor Welded Blanks of Canada, Inc. Canada⁴
• Target Global Growth Fund II, SCSp-RAIF Luxembourg⁴
• Tempel Canada Company Canada⁴
• Tempel Changzhou Precision Metal Products Co. Ltd. China⁴
• Tempel Precision Metal Products India Pvt. Ltd. India⁴
• Tempel Steel Company, LLC Illinois⁴
• Tempel Steel Europe GmbH Germany⁴
• Tempel de Mexico, S. de R.L. de C.V. Mexico⁴
• Temple HK Holding Co., Limited Hong Kong⁴
• The Worthington Steel Company Ohio⁴
• The Worthington Steel Company, LLC Ohio⁴
• Umformtechnik Stendal GmbH Germany⁴
• Umformtechnik Stendal UTS s.r.o. Slovakia⁴
• Unternehmertum VC Fonds III GmbH & Co. KG Germany⁴
• WS Escrow LLC Delaware⁴
• WS Mexico Holdings, LLC Ohio⁴
• WSMX Holdings, LLC Ohio⁴
• Worthington Receivables Company, LLC Delaware⁴
• Worthington Samuel Coil Processing LLC Ohio⁴
• Worthington Specialty Processing Michigan⁴
• Worthington Steel GmbH Germany⁴
• Worthington Steel HQ, LLC Ohio⁴
• Worthington Steel Holding GmbH Germany⁴
• Worthington Steel Mexico, S.A. de C.V. Mexico⁴
• Worthington Steel Rome, LLC Ohio⁴
• Worthington Steel Services, LLC Ohio⁴
• Worthington Taylor, LLC Michigan⁴
• Worthington WSP, LLC Michigan⁴
• XOM Materials GmbH Germany⁴
• kloeckner.i GmbH Germany⁴
• kloeckner.v GmbH Germany⁴

• Excess Capacity and Over-Production by Foreign Steel Producers or Decreases in Tariffs
• Global steel-making capacity may exceed demand for steel products in some regions around the world.
• Climate change
• Concern about climate change might result in new legal and regulatory requirements to reduce or mitigate the effects of climate change.
• There is a focus by governmental and non-governmental entities on sustainability matters.
• There also has been stakeholder focus, including by governmental authorities, investors, customers, media and nongovernmental organizations, on environmental sustainability matters, such as climate change, the reduction of greenhouse gases and water consumption.
• Developing and acting on initiatives within the scope of social and environmental sustainability, and collecting, measuring and reporting environmental sustainability-related information and metrics can be costly, difficult and time consuming and is subject to evolving reporting standards.
• Our business could be harmed if we fail to maintain proper inventory levels.
• Customers and Suppliers
• The loss of significant volume from our key customers could adversely affect us.
• Many of our key end markets, such as automotive and construction, are cyclical in nature.
• We are unable to predict the duration of the current economic conditions or the magnitude or timing of changes in economic activities, which could adversely affect our customers and, in turn, our business.
• Significant reductions in sales to any of the Detroit Three automakers, or to our automotive-related customers in general, could have a negative impact on our business.
• Any future United Auto Workers (“UAW”) strikes against the Detroit Three automakers could have material adverse effects on our business, financial position, results of operations and cash flows.
• The closing, idling or relocation of our customers’ facilities could adversely affect us.
• Strikes, work stoppages or other labor disruptions affecting steel mills or other suppliers could have material adverse effects on our business.
• The closing, idling or relocation of our suppliers’ manufacturing facilities could have a negative impact on us.
• Sales conflicts with our customers and/or suppliers may adversely impact us.
• The loss of key supplier relationships could adversely affect us.
• The U.S. federal government has imposed tariffs on certain foreign goods, including on certain steel products imported into the U.S. and those tariffs may adversely impact our business and financial condition.
• Our business is highly competitive, and increased competition may cause decreased demand, decreased market share and/or reduced prices for our products and services and could negatively impact our financial results.
• Material or Component Substitution
• If steel prices increase compared to certain substitute materials, the demand for our products could be negatively impacted, which could have an adverse effect on our financial results.
• If government fuel efficiency and/or emissions standards for automobiles result in the substitution of other materials for steel, or the substitution of electric motors for internal combustion engines, demand for our products could be negatively impacted, which could have an adverse effect on our financial results.
• Freight and Energy
• Increasing freight and energy costs could increase our operating costs or the costs of our suppliers, who may seek to pass those increased costs on to us, all of which could have an adverse effect on our financial results.
• We depend on third parties for freight services and increases in the cost or the lack of availability of freight services can adversely affect our operations.
• Public Health Emergencies
• Public health emergencies could have a material adverse effect on our business financial position, results of operations and cash flows.
• The ongoing conflict between Russia and Ukraine may adversely affect our business and results of operations.
• Since early 2022, Russia and Ukraine have been engaged in active armed conflict. The length, impact and outcome of the ongoing conflict and its potential impact on our business is highly volatile and difficult to predict.
• The conflict between the United States, Israel and Iran and related geopolitical instability may adversely affect our business.
• In February 2026, the United States and Israel launched coordinated military strikes against Iran, which retaliated with missile attacks across the region.
• Information Systems and Cybersecurity
• We are subject to information system security risks and systems integration issues that could disrupt our operations.
• Security breaches of our information systems could result in unauthorized misappropriation, disclosure or destruction of confidential or proprietary information, production downtime and/or the loss of the functionality of our systems.
• As cybersecurity threats continue to increase in frequency, sophistication, and scale, especially through the use of AI, we may be required to incur significant costs and invest additional resources to protect against and, if required, remediate the damage caused by such disruptions or system failures in the future.
• Artificial Intelligence Technologies and Machine Learning
• We have begun using commercially available AI technologies to enhance productivity and support internal human in the loop decision-making.
• Business Disruptions
• Disruptions to our business or the business of our customers or suppliers could adversely impact our operations and financial results.
• Foreign Operations
• Economic, political and other risks associated with foreign operations could adversely affect our financial results.
• Joint Ventures and Investments
• A change in the relationship between the members of any of our joint ventures may have an adverse effect on that joint venture and our financial results.
• Acquisitions and Equity Investments
• We may be unable to successfully consummate, manage or integrate our acquisitions or other equity investments or our acquisitions and investments may not meet our expectations.
• Capital Expenditures and Capital Resources
• Our business requires capital investment and maintenance expenditures, and our capital resources may not be adequate to provide for all of our cash requirements.
• Our significant strategic capital investments may not achieve their intended return on investment, which could adversely affect our financial condition and results of operations.
• Capital Structure
• Increased leverage and borrowing rates could adversely impact our business and results of operations.
• Our ability to make payments on our indebtedness depends on our ability to generate cash in the future.
• While we expect to utilize our Revolving Credit Facility for certain growth initiatives, larger-scale opportunities may require access to alternative funding sources, which could be difficult.
• Because the Revolving Credit Facility, Term Loans, certain Sitem Group Loans, and BDC Loan bear interest at rates that fluctuate with changes in certain prevailing short-term interest rates, we are vulnerable to interest rate increases.
• Difficult Financial Markets
• If we are required to raise capital in the future, we could face higher borrowing costs, less available capital, more stringent terms and tighter covenants or, in extreme conditions, an inability to raise capital.
• Guidance Regarding Future Performance
• We may release guidance regarding our anticipated future performance and such guidance may prove to be inaccurate.
• Legal Proceedings
• We may be subject to legal proceedings or investigations, the resolution of which could negatively affect our results of operations and liquidity.
• Claims and Insurance
• Adverse claims experience, to the extent not covered by insurance, may have an adverse effect on our financial results.
• Accounting and Tax-Related Estimates
• We are required to make accounting and tax-related estimates, assumptions and judgments in preparing our combined financial statements, and actual results may differ materially from the estimates, assumptions and judgments that we use.
• Principal Shareholder
• The principal shareholder of Worthington Steel may have the ability to exert significant influence in matters requiring a shareholder vote and could delay, deter or prevent a change in control of Worthington Steel.
• The loss of, or inability to attract and retain, qualified personnel could adversely affect our business.