Schnitzer Named One of the 2021 World's Most Ethical Companies by Ethisphere

Schnitzer Steel Industries, Inc. (NASDAQ: SCHN), one of North America's largest manufacturers and exporters of recycled metal products, has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2021 World's Most Ethical Companies. Schnitzer is one of this year's 135 honorees spanning 22 countries and 47 industries.

This is the seventh consecutive year in which Schnitzer has earned its place among Ethisphere's honorees, establishing itself once again as a member of a distinguished group of companies that continues to be the driving force behind improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose.

"We are proud to again be honored with this prestigious designation as one of the World's Most Ethical Companies, a testament to our ongoing commitment to operating according to our core values and in support of our stakeholders," said Tamara Lundgren, Chairman and Chief Executive Officer. "Even in the face of the extraordinary challenges brought by the COVID-19 pandemic, our employees continue to demonstrate the resilience and resolve that has remained a hallmark of our Company for over a century, enabling us to provide uninterrupted service to our customers, suppliers, and communities safely, responsibly, and with integrity every step of the way."

"This recognition as one of the 2021 World's Most Ethical Companies is particularly meaningful to all of us at Schnitzer because it is based on the totality of our organization's ongoing efforts and performance," said Callie Pappas, Vice President & Chief Ethics and Compliance Officer. "It reflects not only our energetic ethics and compliance program, but also our culture of integrity and safety, our dedication to customers and suppliers, our support for our communities, and our focus on sustainability."

"While addressing the tough challenges of 2020, we saw companies lead?above all other institutions?on earning the trust of stakeholders through resilience and a commitment to ethics and integrity," said Ethisphere CEO Timothy Erblich. "The World's Most Ethical Companies honorees continue to demonstrate an unwavering commitment to the highest values and to positively impacting the communities they serve. Congratulations to everyone at Schnitzer Steel Industries for earning the World's Most Ethical Companies designation."

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 to 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.

This year, the process was streamlined and the question set was expanded to gauge how applicants are adapting and responding to the global health pandemic, environmental, social, and governance factors, safety, equity, inclusion and social justice.

Honorees

The full list of the 2021 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 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.

About the Ethisphere Institute

The Ethisphere® Institute 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 and measure and improve culture. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.