THIS IS WHAT WE'RE MADE FOR - AnnualReports.com

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THIS IS WHAT WE’RE MADE FOR 2 0 17 A N N U A L R E P O R T

TIMKENSTEEL AT A GLANCE

In 2017, we experienced momentum in every

FINANCIAL PERFORMANCE

EN

people to the test, increasing both production

Net Sales

O

levels and productivity, while undergoing one of the fastest ramp-ups in company

history. In the process, we came together as

Adjusted EBITDA

($ BILLIONS)

($ MILLIONS)

$1.33

$69.2

PER 200K MAN-HOURS

level of the organization. We put our assets and

$0.87

a team to show exactly what we’re made of

$24.0

and for. We maintained our focus on safety

while also increasing market share, gaining launching industry-leading products.

With 100 years of steelmaking history in the books, we’re confident and excited about

TimkenSteel’s second century. With strong core values, world-class assets, the best people in the industry and an unmatched passion for making the cleanest steel in the industry, this is what we’re made for.

On the cover: Oxyfuel torches on the jumbo bloom vertical caster at our Faircrest Steel Plant cut customlength blooms from the cast steel strand.

T I M K E N S T E E L 2 017 A N N UA L R E P O R T

’16

’17

’16

’17

Reconciliation of Adjusted EBITDA ($ MILLIONS)

2016

2017

($105.5)

($43.8)

(36.5)

1.5

Interest expense

11.4

14.8

Depreciation and amortization

74.9

74.9

Loss from remeasurement of benefit plans

(79.7)

(21.8)

$24.0

$69.2

Net Loss Provision (benefit) for income taxes

Adjusted EBITDA

The reconciliation above is provided as additional relevant information about the company's performance. Adjusted EBITDA is an important financial measure used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. Management believes reporting Adjusted EBITDA is useful to investors as this measure is representative of the company's performance. Management also believes it is appropriate to compare GAAP net loss to Adjusted EBITDA.

CARBON INTENSITY

new customers, improving our processes and

CO

y's nt of of his

ENVIRONMENTAL, HEALTH & SAFETY PERFORMANCE

OSHA Recordable Incident Rate

Lost Time Accident Rate

8

PER 200K MAN-HOURS

PER 200K MAN-HOURS

10

6 4 2 0

2.0 1.5 1.0 0.5 0.0

’04

’05 ’06

’07

’08

’09

’10

’11

’12

’13

’14

’15

(emissions per production ton)

TimkenSteel

CARBON INTENSITY

2.5

’16

’17

’04

Steel Manufacturers Association

’05 ’06

’09

’10

’11

’12

’13

’14

’15

’16

’17

In 2017:

Weighted Average

8% reduction

Faircrest Steel Plant

1.0

’08

U.S. Primary Metals Manufacturers

2.0 1.5

’07

in carbon intensity.

Harrison Steel Plant

10% decrease in the amount

0.5 0

of electricity (kilowatts per ton) used in steelmaking.

Reporting Companies Oxygen

Elec.

Other

Coal &