Schnitzer Steel Industries Inc Sample Contracts

Schnitzer Steel Industries, Inc. – Schnitzer Reports Third Quarter 2019 Financial Results (June 26th, 2019)

PORTLAND, Ore.--(BUSINESS WIRE)--June 26, 2019--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its third quarter of fiscal 2019 ended May 31, 2019. The Company reported earnings per share from continuing operations of $0.56 and adjusted earnings per share of $0.63, a sequential improvement from the second quarter reported and adjusted earnings per share from continuing operations of $0.46 and $0.48, respectively. In the third quarter of fiscal 2018, the Company’s reported and adjusted earnings per share from continuing operations were $1.31 and $1.26, respectively. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries, Inc. – Schnitzer Reports Second Quarter 2019 Financial Results Benefits from Productivity Initiatives Tracking Ahead of Schedule Strong Second Quarter Operating Cash Flow of $35 million (April 4th, 2019)

PORTLAND, Ore.--(BUSINESS WIRE)--April 4, 2019--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its second quarter of fiscal 2019 ended February 28, 2019. The Company reported earnings per share from continuing operations of $0.46 and adjusted earnings per share of $0.48. For the first quarter of fiscal 2019, reported and adjusted earnings per share from continuing operations were $0.57 and $0.58, respectively. In the second quarter of fiscal 2018, the Company’s reported and adjusted earnings per share from continuing operations were $1.42, which included discrete tax benefits of $0.52 per share. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – Fiscal 2019 Annual Performance Bonus Program for the President & Chief Executive Officer (January 9th, 2019)

The Amended and Restated Employment Agreement between the Company and Tamara L. Lundgren provides for an annual cash bonus under a bonus program to be developed by the Compensation Committee (the “Committee”), with bonuses payable based on Company financial performance and achievement of management objectives as determined by the Committee at the beginning of each fiscal year. The annual bonus program for Ms. Lundgren for fiscal 2019 has two components. The first component consists of an award with a cash payout based on achievement of Company financial performance targets established by the Committee. The second component consists of an award with a cash payout based on the achievement of management objectives established by the Committee. The two components of the annual performance bonus program shall operate independently, and the Committee shall make determinations with respect to the second component without regard to the outcomes under the first component.

Schnitzer Steel Industries Inc – Schnitzer Reports First Quarter 2019 Financial Results AMR’s Ferrous Sales Volumes Up 15% and Nonferrous Sales Volumes Up 18% Year-Over-Year CSS Delivers Best First Quarter Since 2008 (January 9th, 2019)

PORTLAND, Ore.--(BUSINESS WIRE)--January 9, 2019--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its first quarter of fiscal 2019 ended November 30, 2018. The Company reported earnings per share from continuing operations of $0.57 and adjusted earnings per share of $0.58. In the first quarter of fiscal 2018, the Company reported earnings per share from continuing operations of $0.64 and adjusted earnings per share of $0.63. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – SCHNITZER STEEL INDUSTRIES, INC. LONG-TERM INCENTIVE AWARD AGREEMENT (January 9th, 2019)

On November 15, 2018, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Schnitzer Steel Industries, Inc. (the “Company”) authorized and granted a performance-based award to _________________ (“Recipient”) pursuant to Section 10 of the Company’s 1993 Stock Incentive Plan (the “Plan”). By accepting this award, Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – RESTRICTED STOCK UNIT AWARD AGREEMENT (January 9th, 2019)

Pursuant to Section 8 of the 1993 Stock Incentive Plan (the “Plan”) of Schnitzer Steel Industries, Inc., an Oregon corporation (the “Company”), on November 15, 2018 the Compensation Committee of the Board of Directors of the Company authorized and granted to ________________ (the “Recipient”) an award of restricted stock units with respect to the Company’s Class A Common Stock (“Common Stock”), subject to the terms and conditions of this agreement between the Company and the Recipient (this “Agreement”). By accepting this award, the Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – Schnitzer Reports Fourth Quarter and Fiscal 2018 Financial Results Best Fourth Quarter and Fiscal Year Operating Income Since Fiscal 2011 Fourth Quarter Total SSI Volumes Up 22% for Ferrous and Up 15% for Nonferrous Year-Over-Year Strong Fourth Quarter Operating Cash Flow of $106 million (October 24th, 2018)

PORTLAND, Ore.--(BUSINESS WIRE)--October 24, 2018--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported financial results for its fourth quarter and fiscal year ended August 31, 2018. The Company reported earnings per share from continuing operations for the quarter of $2.08 and adjusted earnings per share of $2.06, both of which include a discrete tax benefit of $30 million, or $1.06 per share, associated with the release of valuation allowances on certain deferred tax assets. These results are significantly higher than fourth quarter fiscal 2017 reported earnings per share from continuing operations of $0.65 and adjusted earnings per share of $0.63. The Company’s fiscal 2018 full year reported earnings per share of $5.46 and adjusted earnings per share of $5.39, both of which include discrete tax benefits of $1.58 per share, also represent significant increases compared to fiscal 2017 reported ear

Schnitzer Steel Industries Inc – FIRST AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (August 28th, 2018)

This THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of April 6, 2016, among SCHNITZER STEEL INDUSTRIES, INC., an Oregon corporation (the “US Borrower”), SCHNITZER STEEL CANADA LTD., a British Columbia corporation (“Schnitzer Steel Canada” and together with certain Subsidiaries of the US Borrower party hereto pursuant to Section 2.15, collectively, the “Canadian Borrowers” and individually, a “Canadian Borrower”), each US Lender from time to time party hereto, BANK OF MONTREAL, as Canadian Lender, and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer.

Schnitzer Steel Industries Inc – Schnitzer Reports Third Quarter 2018 Financial Results Best Quarterly Consolidated Operating Income Since Fiscal 2011 SSI Ferrous Volumes Up 18% Year-over-Year (June 26th, 2018)

PORTLAND, Ore.--(BUSINESS WIRE)--June 26, 2018--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its third quarter of fiscal 2018 ended May 31, 2018. The Company reported earnings per share from continuing operations of $1.31 and adjusted earnings per share of $1.26. These results are more than double the prior year third quarter earnings per share from continuing operations of $0.60 and adjusted earnings per share of $0.56. Reported and adjusted earnings per share from continuing operations in the second quarter of fiscal 2018 were $1.42 which include discrete tax benefits of $0.52 per share. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – Schnitzer Announces Third Quarter Fiscal 2018 Preliminary Results and Earnings Date ─ Third Quarter Earnings Conference Call 11:30 a.m. Eastern June 26, 2018 ─ (June 14th, 2018)

PORTLAND, Ore.--(BUSINESS WIRE)--June 14, 2018--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today announced preliminary results for its third quarter of fiscal 2018 ended May 31, 2018. Schnitzer expects third quarter earnings per share from continuing operations to be in the range of $1.27 - $1.33 and adjusted earnings per share to be in the range of $1.22 - $1.28. Third quarter consolidated results are expected to be significantly improved compared to the prior year third quarter results of $0.60 earnings per share and $0.56 adjusted earnings per share. For a reconciliation of adjusted results to U.S. GAAP, see the table provided in the Non-GAAP Financial Measures section.

Schnitzer Steel Industries Inc – Schnitzer Reports Second Quarter 2018 Financial Results Strongest Quarterly Consolidated Operating Income Since Fiscal 2011 SSI Ferrous Volumes up 25% and Finished Steel Sales Volumes up 18% Year-over-Year (April 5th, 2018)

PORTLAND, Ore.--(BUSINESS WIRE)--April 5, 2018--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its second quarter of fiscal 2018 ended February 28, 2018. The Company's reported and adjusted earnings per share from continuing operations were $1.42, which include discrete tax benefits of $0.52 per share associated with the recently enacted tax reform legislation and the release of valuation allowances on certain deferred tax assets. These results compare favorably to first quarter fiscal 2018 earnings per share from continuing operations of $0.64 and adjusted earnings per share of $0.63, and the prior year second quarter earnings per share from continuing operations of $0.40 and adjusted earnings per share of $0.37. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – SCHNITZER STEEL INDUSTRIES, INC. LONG-TERM INCENTIVE AWARD AGREEMENT (January 9th, 2018)

On November 14, 2017, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Schnitzer Steel Industries, Inc. (the “Company”) authorized and granted a performance-based award to ____________________ (“Recipient”) pursuant to Section 10 of the Company’s 1993 Stock Incentive Plan (the “Plan”). Compensation paid pursuant to the award is intended to qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986 (the “Code”). By accepting this award, Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – AMENDMENT NO. 3 TO AGREEMENT FOR SERVICES (January 9th, 2018)

This Amendment (“Amendment”) dated as of October 25, 2017, is made by and between Schnitzer Steel Industries, Inc. (the “Company”) and John D. Carter, Chairman of the Company’s Board of Directors (“Chairman”).

Schnitzer Steel Industries Inc – Schnitzer Reports First Quarter 2018 Financial Results Strongest First Quarter Earnings Per Share Since Fiscal 2011 Significant Year-Over-Year Performance Improvements Driven by Higher Volumes and Margins (January 9th, 2018)

PORTLAND, Ore.--(BUSINESS WIRE)--January 9, 2018--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its first quarter of fiscal 2018 ended November 30, 2017. The Company reported earnings per share from continuing operations of $0.64 and adjusted earnings per share of $0.63, both of which include an adverse impact of $0.14 per share related to a legacy environmental liability of $4 million. These results compare to fourth quarter fiscal 2017 earnings per share from continuing operations of $0.65 and adjusted earnings per share of $0.63, and the prior year first quarter loss per share from continuing operations of $0.05 and adjusted loss per share of $0.03. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – Fiscal 2018 Annual Performance Bonus Program for the President & Chief Executive Officer (January 9th, 2018)

The Amended and Restated Employment Agreement between the Company and Tamara L. Lundgren provides for an annual cash bonus under a bonus program to be developed by the Compensation Committee (the “Committee”), with bonuses payable based on Company financial performance and achievement of management objectives as determined by the Committee at the beginning of each fiscal year. The annual bonus program for Ms. Lundgren for fiscal 2018 has two components. The first component consists of an award with a cash payout based on achievement of Company financial performance targets established by the Committee. The second component consists of an award with a cash payout based on the achievement of management objectives established by the Committee. The two components of the annual performance bonus program shall operate independently, and the Committee shall make determinations with respect to the second component without regard to the outcomes under the first component.

Schnitzer Steel Industries Inc – Schnitzer Reports Fourth Quarter and Fiscal 2017 Financial Results Strongest Fourth Quarter and Fiscal Year Earnings Per Share Since Fiscal 2011 Fiscal 2017 Total Ferrous Volumes Up 10% and Nonferrous Volumes Up 15% (October 24th, 2017)

PORTLAND, Ore.--(BUSINESS WIRE)--October 24, 2017--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported financial results for its fourth quarter and fiscal year ended August 31, 2017. The Company reported earnings per share from continuing operations of $0.65 and adjusted earnings per share of $0.63 for the fourth quarter fiscal 2017. These results are significantly higher than fourth quarter fiscal 2016 reported earnings per share of $0.59 and adjusted earnings per share of $0.60, both of which included a benefit of $0.21 per share from an insurance reimbursement of $6 million. Our fiscal 2017 full year reported earnings per share of $1.60 and adjusted earnings per share of $1.53 also represent significant increases compared to fiscal 2016 reported loss per share of $0.66 and adjusted earnings per share of $0.69. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial

Schnitzer Steel Industries Inc – AMENDMENT NO. 2 TO JUNE 29, 2011 AGREEMENT (October 24th, 2017)

This Amendment (“Amendment”) dated as of October 29, 2014, is made by and between Schnitzer Steel Industries, Inc. (the “Company”) and John D. Carter, Chairman of the Company’s Board of Directors (“Chairman”).

Schnitzer Steel Industries Inc – AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT (October 24th, 2017)

This Amendment (“Amendment”), dated July 25, 2017, is made by and between Schnitzer Steel Industries, Inc. (the “Company”) and Tamara L. Lundgren (“Executive”).

Schnitzer Steel Industries Inc – Schnitzer Reports Third Quarter 2017 Financial Results Significant Growth in Earnings Per Share Auto and Metals Recycling Delivers Strongest Third Quarter Performance Since Fiscal 2012 Best First Nine Months Earnings Per Share Since Fiscal 2012 (June 26th, 2017)

PORTLAND, Ore.--(BUSINESS WIRE)--June 26, 2017--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its third quarter ended May 31, 2017. The Company reported earnings per share from continuing operations of $0.60 and adjusted earnings per share of $0.56. These results reflect a significant increase compared to second quarter earnings per share from continuing operations of $0.40 and adjusted earnings per share of $0.37, and the prior year third quarter earnings per share from continuing operations of $0.41 and adjusted earnings per share of $0.46. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – SCHNITZER STEEL INDUSTRIES, INC. LONG-TERM INCENTIVE AWARD AGREEMENT (June 26th, 2017)

On April 27, 2017, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Schnitzer Steel Industries, Inc. (the “Company”) authorized and granted a performance-based award to _______________ (“Recipient”) pursuant to Section 10 of the Company’s 1993 Stock Incentive Plan (the “Plan”). Compensation paid pursuant to the award is intended to qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986 (the “Code”). By accepting this award, Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – Schnitzer Reports Second Quarter 2017 Financial Results Significantly Increased Earnings Per Share Auto and Metals Recycling Division Reports Strongest Second Quarter Performance Since Fiscal 2012 (April 6th, 2017)

PORTLAND, Ore.--(BUSINESS WIRE)--April 6, 2017--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported results for its second quarter ended February 28, 2017. The Company reported earnings per share from continuing operations of $0.40 and adjusted earnings per share of $0.37. These results are significantly improved from prior year second quarter results of a loss per share from continuing operations of $1.48 and an adjusted loss per share of $0.25, as well as first quarter of fiscal 2017 results of a loss per share from continuing operations of $0.05 and an adjusted loss per share of $0.03. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – RESTRICTED STOCK UNIT AWARD AGREEMENT (January 5th, 2017)

Pursuant to Section 8 of the 1993 Stock Incentive Plan (the “Plan”) of Schnitzer Steel Industries, Inc., an Oregon corporation (the “Company”), on November 1, 2016 the Compensation Committee of the Board of Directors of the Company authorized and granted to _________________ (the “Recipient”) an award of restricted stock units with respect to the Company’s Class A Common Stock (“Common Stock”), subject to the terms and conditions of this agreement between the Company and the Recipient (this “Agreement”). By accepting this award, the Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – FISCAL 2017 ANNUAL PERFORMANCE BONUS PROGRAM FOR THE PRESIDENT & CHIEF EXECUTIVE OFFICER (January 5th, 2017)

The Amended and Restated Employment Agreement between the Company and Tamara L. Lundgren provides for an annual cash bonus under a bonus program to be developed by the Compensation Committee (the “Committee”), with bonuses payable based on Company financial performance and achievement of management objectives as determined by the Committee at the beginning of each fiscal year. The annual bonus program for Ms. Lundgren for fiscal 2017 has two components. The first component consists of an award with a cash payout based on achievement of Company financial performance targets established by the Committee. The second component consists of an award with a cash payout based on the achievement of management objectives established by the Committee. The two components of the annual performance bonus program shall operate independently, and the Committee shall make determinations with respect to the second component without regard to the outcomes under the first component.

Schnitzer Steel Industries Inc – LONG-TERM INCENTIVE AWARD AGREEMENT (January 5th, 2017)

On November 1, 2016, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Schnitzer Steel Industries, Inc. (the “Company”) authorized and granted a performance-based award to _________________ (“Recipient”) pursuant to Section 10 of the Company’s 1993 Stock Incentive Plan (the “Plan”). Compensation paid pursuant to the award is intended to qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986 (the “Code”). By accepting this award, Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – Schnitzer Reports First Quarter 2017 Financial Results Auto and Metals Recycling Delivers Best First Quarter Performance Since Fiscal 2012 (January 5th, 2017)

PORTLAND, Ore.--(BUSINESS WIRE)--January 5, 2017--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported a loss per share from continuing operations of $0.05 for the fiscal 2017 first quarter ended November 30, 2016 and an adjusted loss per share from continuing operations of $0.03. Reported and adjusted first quarter results include an adverse impact on operating costs in the Steel Manufacturing Business (SMB) of approximately $2.5 million, or $0.09 per share, resulting from outages related to a major equipment upgrade and maintenance downtime. In comparison, the Company had a loss per share from continuing operations of $0.19 in the prior year first quarter and an adjusted loss per share from continuing operations of $0.13. For a reconciliation of the adjusted results to U.S. GAAP, please see the Non-GAAP Financial Measures provided after the financial statements in this document.

Schnitzer Steel Industries Inc – Schnitzer Reports Fourth Quarter and Fiscal 2016 Financial Results (October 25th, 2016)

PORTLAND, Ore.--(BUSINESS WIRE)--October 25, 2016--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported financial results for its fourth quarter and fiscal year ended August 31, 2016. The Company reported earnings per share from continuing operations of $0.59 for the fourth quarter, including a benefit from an insurance reimbursement of approximately $0.21 per share. Adjusted earnings per share from continuing operations of $0.60 excludes asset impairment charges, a net gain from restructuring and other exit-related activities, recoveries on previously contracted shipments, and income tax benefits associated with these adjustments. For the third quarter of fiscal 2016, reported earnings per share from continuing operations was $0.41 and adjusted earnings per share from continuing operations was $0.46. For the fourth quarter of fiscal 2015, reported earnings per share from continuing operations was $

Schnitzer Steel Industries Inc – RESTRICTED STOCK UNIT AWARD AGREEMENT (June 30th, 2016)

Pursuant to Section 8 of the 1993 Stock Incentive Plan (the “Plan”) of Schnitzer Steel Industries, Inc., an Oregon corporation (the “Company”), on April 27, 2016 the Compensation Committee of the Board of Directors of the Company authorized and granted to _________________ (the “Recipient”) an award of restricted stock units with respect to the Company’s Class A Common Stock (“Common Stock”), subject to the terms and conditions of this agreement between the Company and the Recipient (this “Agreement”). By accepting this award, the Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – Schnitzer Reports Third Quarter Fiscal 2016 Financial Results Strong Earnings and Significant Operating Leverage (June 30th, 2016)

PORTLAND, Ore.--(BUSINESS WIRE)--June 30, 2016--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today reported earnings per share from continuing operations of $0.41 for the fiscal 2016 third quarter ended May 31, 2016. This compares to reported losses per share from continuing operations of $0.31 in the third quarter of fiscal 2015 and $1.48 in the second quarter of fiscal 2016. Adjusted earnings per share from continuing operations of $0.46 for the third quarter fiscal 2016 excludes the adverse impact of noncash write-off of debt issuance costs, restructuring charges and other exit-related costs, and other items. This compares to adjusted earnings per share from continuing operations of break-even for the third quarter fiscal 2015 and an adjusted loss per share from continuing operations of $0.25 in the second quarter of fiscal 2016. For a reconciliation of the adjusted results, please see a description of

Schnitzer Steel Industries Inc – SCHNITZER STEEL INDUSTRIES, INC. LONG-TERM INCENTIVE AWARD AGREEMENT (June 30th, 2016)

On April 27, 2016, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Schnitzer Steel Industries, Inc. (the “Company”) authorized and granted a performance-based award to _______________ (“Recipient”) pursuant to Section 10 of the Company’s 1993 Stock Incentive Plan (the “Plan”). Compensation paid pursuant to the award is intended to qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986 (the “Code”). By accepting this award, Recipient agrees to all of the terms and conditions of this Agreement.

Schnitzer Steel Industries Inc – INDEMNIFICATION AGREEMENT (May 3rd, 2016)

This Indemnification Agreement (“Agreement”), dated as of April 27, 2016, is by and between Schnitzer Steel Industries, Inc., an Oregon corporation (the “Company”) and _______________ (the “Indemnitee”).

Schnitzer Steel Industries Inc – Amendment No. 1 to Fiscal 2016 Annual Performance Bonus Program for Tamara L. Lundgren (April 7th, 2016)

The Fiscal 2016 Annual Performance Bonus Program for Tamara L. Lundgren adopted by Compensation Committee (the “Committee”) of the Board of Directors of Schnitzer Steel Industries, Inc. is hereby amended by adding under the heading “General Provisions” the following paragraph:

Schnitzer Steel Industries Inc – SECURITY AGREEMENT (April 7th, 2016)

THIS SECURITY AGREEMENT (this “Agreement”) is entered into as of April 6, 2016 among Schnitzer Steel Industries, Inc. (the “US Borrower”), the other parties identified as “Grantors” on the signature pages hereto and such other parties that may become Grantors hereunder after the date hereof (together with the US Borrower, each individually a “Grantor”, and collectively, the “Grantors”) and Bank of America, N.A., in its capacity as administrative agent (the “Administrative Agent”) for the holders of the Obligations.

Schnitzer Steel Industries Inc – THIRD AMENDED AND RESTATED CREDIT AGREEMENT Dated as of April 6, 2016 among SCHNITZER STEEL INDUSTRIES, INC., as the US Borrower, SCHNITZER STEEL CANADA LTD., as a Canadian Borrower, BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer, BANK OF MONTREAL, as the Canadian Lender, JPMORGAN CHASE BANK, N.A., as Syndication Agent, KEYBANK NATIONAL ASSOCIATION, as Documentation Agent and The Other Lenders Party Hereto (April 7th, 2016)

This THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of April 6, 2016, among SCHNITZER STEEL INDUSTRIES, INC., an Oregon corporation (the “US Borrower”), SCHNITZER STEEL CANADA LTD., a British Columbia corporation (“Schnitzer Steel Canada” and together with certain Subsidiaries of the US Borrower party hereto pursuant to Section 2.15, collectively, the “Canadian Borrowers” and individually, a “Canadian Borrower”), each US Lender from time to time party hereto, BANK OF MONTREAL, as Canadian Lender, and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer.

Schnitzer Steel Industries Inc – GENERAL SECURITY AGREEMENT (April 7th, 2016)

Bank of America, N.A. in its capacity as collateral agent (the "Agent") for and on behalf of and for the benefit of the Secured Parties (as defined below)

Schnitzer Steel Industries Inc – Schnitzer Reports Second Quarter 2016 Financial Results and Third Quarter Outlook (April 6th, 2016)

PORTLAND, Ore.--(BUSINESS WIRE)--April 6, 2016--Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported financial results for its fiscal 2016 second quarter ended February 29, 2016. Significantly weaker export demand in the latter half of the second quarter led to ferrous and nonferrous sales prices falling to multi-year lows during the quarter. The lower price environment adversely impacted scrap flows and compressed metal spreads. At the end of February, export ferrous sales prices for shipments in the third quarter began to improve and continued to show strength through March.