Market leader positioned for recovery Chuck Schmitt EVP and Head of SSAB Americas

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Agenda

► Market situation and outlook

► Our position in the market

► Our focus going forward

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2

North American steel industry being impacted by several external forces

Government Demographics

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A volatile 12 months in U.S. plate market

Source – CRU

$400

$450

$500

$550

$600

$650

$700

$750

$800

Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17

CRU Plate Price

June 2016

Prices peak due to weak demand conditions

Nov 2016

DOC submits final and preliminary findings for

dumping of imports from several countries.

March 2017

Mobile outage extends lead times. Imports remain low

as DOC announces results of several cases

May 2017

Section 232 investigation of steel imports is launched with potential for broad scope of

remedies

DOC = U.S. Department of Commerce

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0

20

40

60

80

100

120

140

Ap

r 15

May

15

Jun

15

Jul 1

5

Au

g 15

Sep

15

Oct

15

No

v 15

Dec

15

Jan

16

Feb

16

Mar

16

Ap

r 16

May

16

Jun

16

Jul 1

6

Au

g 16

Sep

16

Oct

16

No

v 16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r 17

May

17

U.S. plate imports already decreased due to trade cases U.S. plate imports and trade case status,

top 5 countries

Total CTL imports 1,051 kt – of which top 5 account for >70%

364

152

131

96

30

2015

2016

ktonnes

U.S. imports of carbon & alloy cut-to-length products

ktonnes

No measures ongoing for Canada

Anti-dumping (AD) margin ranging 15%-49%

Source: U.S. Department of Commerce

Anti-dumping (AD) margin ranging 9%-148%

Anti-dumping (AD) margin ranging 5%-23%

Overall duty margin (both AD and CVD) 12%

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Favorable forecasts for North American plate

Source: CRU forecast

Apparent demand by country, million ton (s)

Apparent demand by plate type, million ton (s)

3.5

2.7 3.6

2.6

9.8

2.5

8.1

2.5

9.5

16.1

2020

15.8

2015 2016 2018

9.6

14.2 4.0

16.7

4.4

Canada Mexico USA

2020

16.7

8.3

8.4

2018

16.1

8.1

8.0

2016

14.2

7.3

6.8

2015

15.8

7.7

8.1

Coiled plate Reversing plate mill

Demand growth driven by quickly recovering US and higher growth rates in Mexico

Quicker recovery in reversing plate production products (SSAB core)

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Segments driving North American plate demand Segment short/medium-term outlook

► Wind Energy remains positive for 2017 due to production tax credit incentives. Long-term will be impacted by new policy

► Oil and gas investments turned into growth in late 2016

► Rig counts continue to grow and supporting equipment demand is recovering along with that activity

► Railcar build will continue to remain slow through 2017 with volume forecast to be off 80% or more from the peak.

► Demand for barge has softened

► Public infrastructure spend to increase with the new FAST Act – Projects continue to come forward as the much needed infrastructure rebuild continues to be a public policy focus

► Improving non-residential construction as absorption of inventory and pent-up demand continue to support increased investments

► Overall construction seen to grow 3-4% pa

Energy

Construction & infrastructure

Heavy transport

Long-term outlook (2017-20)

Heavy equipment ► Construction, Mining and Agriculture equipment OEMs continue to show modest recovery and

increasing volume requirements for H2/2017 and 2018

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Market conditions are improving

USD / ton

U.S. plate market prices minus spot cost of scrap U.S. plate and HRC spot price

USD / ton

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Source – CRU

0

100

200

300

400

500

600

700

800

900

1,000

Jan

-14

Mar

-14

May

-14

Jul-

14

Sep

-14

No

v-1

4

Jan

-15

Mar

-15

May

-15

Jul-

15

Sep

-15

No

v-1

5

Jan

-16

Mar

-16

May

-16

Jul-

16

Sep

-16

No

v-1

6

Jan

-17

Mar

-17

May

-17

U.S. Plate U.S. HRC

0

50

100

150

200

250

300

350

400

450

500

Jan

-14

Mar

-14

May

-14

Jul-

14

Sep

-14

No

v-1

4

Jan

-15

Mar

-15

May

-15

Jul-

15

Sep

-15

No

v-1

5

Jan

-16

Mar

-16

May

-16

Jul-

16

Sep

-16

No

v-1

6

Jan

-17

Mar

-17

May

-17

U.S.plate market price minus spot cost of scrap

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Agenda

► Market situation and outlook

► Our position in the market

► Our focus going forward

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Market leader with ~30% market share

25% 32% 30%

61% 59% 62%

14% 9% 8% Imports

Q1/2017 Q1/2016 Q4/2016

SSAB Americas

Other domestic supply

SSAB Americas’ market share of the plate market

Source: AISI

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1

2 3

3 3

Strongly positioned in Americas’ manufacturing heartland

Montpelier, Iowa ► Established: 1997 ► Heavy plate mill ► Scrap-based EAF steel production ► R&D center ► Employees: 500

Mobile, Alabama ► Established: 2001 ► Heavy plate mill ► Scrap-based EAF steel production ► Employees: 600

Texas, Minnesota & Ontario ► Cut-to-length facilities ► Steel plate and coil processing ► Employees: 120

1

3

2

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Debottlenecking brings total steel production capacity to 2.7 mtonnes

Vs.

Mobile and Montpelier mills Increased capacity

2016

2.3

100

MILLION TONNES

Steel production capacity

2.7 MILLION TONNES

Steel production capacity

THOUSAND TONNES

Q&T production capacity

300 THOUSAND TONNES

Q&T production capacity

• Two planned outages completed in 2016-’17

• Combined with rigorous site maintenance means less frequent outages

• Next planned outage not scheduled until mid-2018 (Montpelier)

Maintenance outages: 2010

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4

5

6

7

8

9

10

Overall Satisfaction Quality Service On Time

Jacobson Report Q1/2017

SSAB Comp A Comp B Comp C Comp D

Preferred supplier We rank top in independent customer surveys

Customer Satisfaction Rating

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Customer recognition

►Achieved “Partner” status in John Deere’s Achieving Excellence supplier assessment program for the eighth consecutive year, highest attainable level under this program

►Awarded 2016 “Supplier of the Year” by Komatsu America

►Awarded “Premier Supplier Award” by Trinity Rail Group

►Attained recertification to “Gold Level” under Caterpillar’s Supplier Quality Excellence Process

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A commitment to customers and the environment

►Nearly 100% scrap-based steel production

► Increased use of renewable energy sources (wind)

►Numerous recycling projects:

− Scrap tire recycling program

− Electric arc furnace dust recycling

− Facility recycling/sorting areas

►Launched EcoSmart in 2016, a new customer awareness program to demonstrate commitment to environmental sustainability

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Agenda

► Market situation and outlook

► Our position in the market

► Our focus going forward

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SSAB Americas’ five key strategic cornerstones

Industry Leadership in Safety

Leading Home Market Position

Superior Customer Experience

Low Cost/High Flexibility Strategy

Market Diversification

The safest steelmaking operations in all of North America, striving for zero accidents

Number one in the American plate market in terms of EBITDA margin and market share

Number one in customer service against our peers based on quarterly third-party surveys

The best cost position versus our peer competitors and aggressively pursue continuous improvement projects

Increase our premium product offering and geographic footprint, both by expanding existing customers and winning new ones

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Strengthening our home market leadership

63%

Actions to strengthen plate market leadership

►Expand product mix

►Engage customer projects with technical support

►Leverage established relationships to optimize product mix and grow share

► Identify additional debottlenecking opportunities

Key focus ahead

►Number 1 supplier in our strategic segments

►Utilize CTL operations and Europe heavy plate to increase overall sales volume and broader product portfolio

►Grow new smart-segment products

►Utilize competitive advantage in energy applications

►Expand Premium products offer

Number one in North American plate market with 30% market share

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Recent programs and ongoing activities Planned coming years

Taking steps to further strengthen cost leadership position through continuous improvement

►Continuous Improvement

− Black Belt /Green Belt projects

− “Just Do It” Improvements

− Strategic Sourcing events

►Hot Briquetted Iron (HBI)

►Granulated Pig Iron (GPI)

► Raw Material flexibility

− Maintain scrap/Alternative Iron Unit (AIU) flexibility

► Longer term supply solutions

− For raw materials and key consumables

► Rolling mill productivity improvements

+

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Black Belt example: Energy Substitution & Burner Optimization

►Electric Arc Furnace melts scrap via

− Electrical energy via carbon electrode

− Chemical energy via oxy-fuel burners

►Project to increase use of natural gas and optimize burner usage

− Increase share of natural gas in burners by 5% on average (@ $11/MWH)

− Reduce electricity (@ $66/MWH)

− Burner optimization reduced EAF melting time by about 2 minutes/heat

► USD 7 million savings in 2016

− Lower energy cost

− Increased throughput

− Reduced electrode consumption

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Focus areas to grow sales

Bridge market Re-enter market with

infrastructure projects

Western Canada,

Mexico & U.S. West Coast

Fill in geographic “white spots”

Cut-to-Length lines

Formed new Value-Added business unit

New products Smart segments and

new technologies

Energy Increase

penetration with extension of Federal

Production Tax Credit

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►Leverage domestic melted and manufactured capabilities, i.e. “Buy American”

►Limited domestic competition in high-strength, low alloy production capabilities of wide coil and plate

►Key participant in the N.A. energy investment and expansion including 10,000+ miles of pipeline construction in the U.S. and Canada

► In wind energy, develop unique pricing solutions, leveraging EcoSmart concept, as well as our market position and quality

Energy segment – API line pipe and wind towers

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Re-entering the bridge segment

►Leveraging current push for infrastructure investment

►Commercial focus on key accounts identified and targeted in North America

►Actively participating in Short Span Steel Bridge Alliance, tech services product development & on-site mill training

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In summary

1. Market expected to recover with key indicators trending positively

2. We are strongly positioned

►As a preferred supplier and market leader in key segments with 30% market share

►With an industry-leading cost, quality and service position

3. Our strategic priorities for the future

► Focus on a profitable market share growth, operational flexibility and low-cost position to deliver strong results

►Optimize overall production model to meet increased plate demand

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