Schnitzer Recognized for Leadership in Sustainability

Schnitzer Steel Industries, Inc. (NASDAQ: SCHN), one of North America's largest manufacturers and exporters of recycled metal products, today announced that it has been named a 2021 Sustainability Yearbook Member and recognized as an Industry Mover by S&P Global (S&P). The S&P Sustainability Yearbook ranks sustainability leaders based on strong ESG performance in S&P's annual Corporate Sustainability Assessment. Recognition as an Industry Mover is reserved for one company in each ranked industry demonstrating the strongest year-over-year score improvement.

"We are proud to be included in this year's S&P Sustainability Yearbook and recognized for our continued leadership in sustainable and ethical practices, which are essential components of our ability to deliver long-term value to all our stakeholders," said Tamara Lundgren, Chairman and Chief Executive Officer. "Despite the COVID-19 challenges of the past year, Schnitzer's progress on our ambitious sustainability goals remains strong, and our sustainable business model has never been more important than it is today."

This is the third year Schnitzer has participated in the S&P Global Corporate Sustainability Assessment and the first year in which Schnitzer has been featured as a Sustainability Yearbook Member. To be recognized in the Yearbook, a company must score within the top 15% of its industry and achieve an S&P Global ESG Score within 30% of its industry's top-performing companies. For the 2021 list, S&P evaluated more than 7,000 companies and designated only 631 as sustainability leaders.

Manjit Jus, Global Head of ESG Research, S&P Global, said, "We congratulate Schnitzer Steel Industries on its Industry Mover Award in The Sustainability Yearbook 2021, which showcases the best performing companies among industry peers and in terms of financially material ESG metrics. With over 7,000 companies assessed, an inclusion in the yearbook is a true statement of corporate sustainability excellence."

Additionally, Schnitzer was named as one of "America's Most Responsible Companies" for 2021 by Newsweek and Statista, Inc., the world-leading statistics portal and industry ranking provider. This is the second year in a row that Schnitzer has been included on Newsweek's list that recognizes the most responsible companies in the United States. America's Most Responsible Companies are selected based on key performance indicators derived from publicly available information such as the company's sustainability report, as well as an independent survey.

Schnitzer recently released its Fiscal 2020 Sustainability Report, "Resourceful. Responsible. Resilient." which describes the Company's sustainability framework of People, Planet, and Profit and how Schnitzer advances sustainable business practices throughout its operations. The report is available in an interactive format on Schnitzer's website.

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 23 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 approximately 5 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.