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STEEL DYNAMICS, INC.

(STLD)
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Steel Dynamics : Investor Presentation May 18, 2021

05/18/2021 | 04:34pm EDT

Investor Presentation

18 May 2021

Forward Looking Statements and Non-GAAP Financial Measures

Forward-Looking Statements

This presentation contains some predictive statements about future events, including statements related to conditions in domestic or global economies, conditions in steel and recycled metals market places, Steel Dynamics' revenues, costs of purchased materials, future profitability and earnings, and the operation of new, existing or planned facilities. These statements, which we generally precede or accompany by such typical conditional words as "anticipate", "intend", "believe", "estimate", "plan", "seek", "project", or "expect", or by the words "may", "will", or "should", are intended to be made as "forward-looking", subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) domestic and global economic factors; (2) global steelmaking overcapacity and steel imports, together with increased scrap prices; (3) pandemics, epidemics, widespread illness or other health issues, such as the COVID-19 pandemic; (4) the cyclical nature of the steel industry and the industries we serve; (5) volatility and major fluctuations in prices and availability of scrap metal, scrap substitutes, and our potential inability to pass higher costs on to our customers; (6) cost and availability of electricity, natural gas, oil, or other resources are subject to volatile market conditions; (7) compliance with and changes in environmental and remediation requirements; (8) increased regulation associated with the environment, climate change, greenhouse gas emissions and sustainability; (9) significant price and other forms of competition from other steel producers, scrap processors and alternative materials; (10) availability of an adequate source of supply for our metals recycling operations; (11) cybersecurity threats and risks to the security of our sensitive data and information technology; (12) the implementation of our growth strategy; (13) litigation and legal compliance, (14) unexpected equipment downtime or shutdowns; (15) governmental agencies may refuse to grant or renew some of our licenses and permits; (16) our senior unsecured credit facility contains, and any future financing agreements may contain, restrictive covenants that may limit our flexibility; and (17) the impacts of impairment.

More specifically, we refer you to Steel Dynamics' more detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently than expected or anticipated, as set forth in our most recent Annual Report on Form 10-K under the headings Special Note Regarding Forward-Looking Statements and Risk Factors, in our quarterly reports on Form 10-Q or in other reports which we from time to time file with the Securities and Exchange Commission. These are available publicly on the SEC website, www.sec.gov, and on the Steel Dynamics website, www.steeldynamics.com: Investors: SEC Filings.

Note Regarding Non-GAAP Financial Measures

Steel Dynamics reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that EBITDA, Adjusted EBITDA, Adjusted Operating Income and Free Cash Flow, non-GAAP financial measures, provide additional meaningful information regarding Steel Dynamic's performance and financial strength. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Steel Dynamics' reported results prepared in accordance with GAAP. In addition, because not all companies use identical calculations, EBITDA, Adjusted EBITDA, Adjusted Operating Income and Free Cash Flow included in this presentation may not be comparable to similarly titled measures of other companies. The reconciliations of these non-GAAP measures to their most comparable GAAP measures are contained in the appendix at the end of this presentation.

.

18 May 2021 1

Differentiated and Proven Business Culture

We are a leading North American steel producer with a differentiated and proven business model

Consistent best-in-class performance

Led North American steel peers in EBITDA margin in eachof the last 10 years

Differentiated business model delivering strong profitability and cash flow

High value-added product mix and diversified customer base drives strong free cash flow conversion

Smart growth - Gaining market share and growing with customers

Organic and transactional growth drive supply-chain differentiation and higher steel mill utilization

100% of steel produced with electric-arc-furnace technology

Significantly lower environmental impact than traditional technologies - Recycled scrap primary raw material

Strong balance sheet provides strategic flexibility for current operations and prudent growth

Q1 2021 net leverage of 1.3x - Committed to maintaining investment grade ratings

Sustainable shareholder value creation and distribution growth

Maintain a positive dividend profile complemented by share repurchases when appropriate

18 May 2021 2

Differentiated and Proven Business Culture

Steel Dynamics - One of the largest and most differentiated steel producers and metals recyclers in North America

2020

Revenue: $9.6B

Net Income: $551M

Adj. EBITDA: $1.2B1

Steel Shipping Capacity: 13M tons

Market leader producing premium, value-added,

diversified steel products, serving growing markets

Modern, state-of-the-art efficiently configured and

flexible production facilities

Highly variable (85%), low cost structure

Vertically connected and controlled supply chain

Environmentally-compatible,recycling-basedelectric-arc-furnace (EAF) technology

Respected and experienced management team,

driving our innovative, entrepreneurial culture

Highly motivated, safety focused and performance-

based incentivized team of approximately 9,800 individuals

  1. The reconciliation to GAAP net income is provided in the appendix to this presentation.
  2. Based on 2020 steel sales.

³ Based on 2020 steel shipments.

Premium / value-added product mix2

Hot Roll Sheet

14%

Structural

Coated

12%

Sheet

45%

5%

Merchant

1%

Other

Value-Added

3%

Steels 68%

5%

Rail

4%

4%

Shapes

7%

Engineered

Cold

Hot Roll

SBQ

Roll

and Pickled

Sheet

& Oiled

Sheet

Serving diverse, growing steel end-markets3

Other Manufacturing

18%

Ag, Equipment, & Mining

4%

Non-Energy Pipe & Tube

7%

Energy

5%

Transportation & Rail

6%

Automotive

12%

Appliance / HVAC

7%

Light Commercial /

19%

Construction-

Residential

Related

Heavy Non-Residential

9%

48%

Metal Building

13%

18 May 2021 3

Differentiated and Proven Business Culture

We have a proven track record of delivering smart growth and shareholder value creation

2020: Columbus

Coating Line

Addition

2019: Achieved

Investment Grade

Credit Ratings

2014: Flat Roll Steel

1996

Mill Acquisition -

Shipments

Columbus

Steel: 794,000 tons

2006: Merchant &

2002: SBQ Steel Mill

Specialty Steel

Acquisition

Acquisition - 2 Mills

2002: Structural

Steel Mill -

Greenfield

2018: Flat Roll Steel

1996: Flat Roll Steel

Processing Facility

Mill - Greenfield

Acquisition -

Heartland

2007: Ferrous and

2007: Galvanizing

Nonferrous Metals

Facilities Acquisition -

Recycling

2000: 1st Steel

The Techs

Acquisition -

Fabrication Facility -

OmniSource

Greenfield

2019-2021:

Planned Sinton, Texas

Greenfield EAF Flat

Roll Steel Mill

2020 Shipments

  • Steel: 10.7M tons
  • Metals Recycling: 4.6M gross tons ferrous and 978M pounds nonferrous
  • Steel Fabrication: Record666k tons

Experienced, entrepreneurial leadership has delivered significant value through

disciplined M&A and strategic capital investments

1 Based on the period from 1996 to December 31, 2020.

18 May 2021 4

Differentiated and Proven Business Culture

Disclaimer

SDI - Steel Dynamics Inc. published this content on 18 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2021 20:33:05 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 16 981 M - -
Net income 2021 2 896 M - -
Net Debt 2021 511 M - -
P/E ratio 2021 4,75x
Yield 2021 1,61%
Capitalization 13 196 M 13 196 M -
EV / Sales 2021 0,81x
EV / Sales 2022 0,75x
Nbr of Employees 9 625
Free-Float 72,9%
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Technical analysis trends STEEL DYNAMICS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 64,65 $
Average target price 80,00 $
Spread / Average Target 23,7%
EPS Revisions
Managers and Directors
Mark D. Millett Chairman, President & Chief Executive Officer
Theresa E. Wagler Chief Financial Officer & Executive Vice President
Robert E. Francis Chief Information Officer & Vice President
Frank D. Byrne Independent Director
James C. Marcuccilli Lead Independent Director
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