Schnitzer Named One of the 2023 World's Most Ethical Companies

Company Honored with Title for Nine Consecutive Years

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), a global leader in metals recycling, has been recognized by Ethisphere as one of the 2023 World's Most Ethical Companies. Ethisphere is a world leader in defining and advancing the standards of ethical business practices. Schnitzer is among this year's 135 honorees spanning 19 countries and 46 industries.

This is the ninth consecutive year in which Schnitzer has earned its place among Ethisphere's honorees, a distinguished group of companies supporting communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and purpose.

"We are honored to be recognized as one of the World's Most Ethical Companies for the ninth consecutive year," said Tamara Lundgren, Chairman and Chief Executive Officer. "Being included on Ethisphere's prestigious list of the World's Most Ethical Companies is one of the highest and most valuable honors our Company can receive. It reflects the commitment of all our employees to living our Core Values of Safety, Sustainability, and Integrity. Achieving this honor in any year is a significant accomplishment and to do so once again this year places us in a very small circle of highly distinguished and admirable companies."

"At Schnitzer our actions are grounded in a strong sense of purpose and a commitment to integrity, and our success is a natural extension of this connection," said Eric Sork, Vice President & Chief Ethics Officer. "We are immensely proud to be recognized again as one of the World's Most Ethical Companies, alongside a global community of companies dedicated to raising the bar on ethical leadership and social responsibility."

"Ethics matters. Organizations that commit to business integrity through robust programs and practices not only elevate standards and expectations for all, but also have better long-term performance," said Ethisphere CEO, Erica Salmon Byrne. "We continue to be inspired by the World's Most Ethical Companies honorees and their dedication to making real impact for their stakeholders and displaying exemplary values-based leadership. Congratulations to Schnitzer for earning a place in the World's Most Ethical Companies community."

Methodology & Scoring

Grounded in Ethisphere's proprietary Ethics Quotient®, the World's Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.

Honorees

The full list of the 2023 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.

About Schnitzer Steel Industries, Inc.

Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 25 states, Puerto Rico, and Western Canada. Schnitzer has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company's integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over 4.1 million annual retail visits. The Company's steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.

About Ethisphere

Ethisphere is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset focused on ethical culture and featuring the responses of 2+ million employees around the world; and the Ethics Quotient dataset, featuring 200+ data points highlighting the ethics, compliance, social, and governance practices of the World's Most Ethical Companies. For more information, visit https://ethisphere.com.

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