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R Y E R S O N I N V E S T O R P R E S E N T A T I O N

J U N E 1 5 , 2 0 1 6

2 0 1 6 I N V E S T O R P R E S E N T A T I O N

R Y E R S O N I N V E S T O R P R E S E N T A T I O N2

IMPORTANT INFORMATION ABOUT RYERSON HOLDING CORPORATIONThese materials do not constitute an offer or solicitation to purchase or sell securities of Ryerson Holding Corporation (the “Company”) and no investment decision should be made based upon the information provided herein. Ryerson strongly urges you to review its filings with the Securities and Exchange Commission, which can be found at ir.ryerson.com/financial-info/sec-filings/. This site also provides additional information about Ryerson.

SAFE HARBOR PROVISIONCertain statements made in this presentation and other written or oral statements made by or on behalf of the Company constitute “forward-looking statements” within the meaning of the federal securities laws, including statements regarding our future performance, as well as management’s expectations, beliefs, intentions, plans, estimates or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “may,” “estimates,” “will,” “should,” “plans” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact the metals distribution industry and our business are: the cyclicality of our business; the highly competitive and fragmented market in which we operate; fluctuating metal prices; our substantial indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; work stoppages; obligations regarding certain employee retirement benefit plans; the ownership of a majority of our equity securities by a single investor group; currency fluctuations; and consolidation in the metals producer industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2015 and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.

NON-GAAP MEASURESCertain measures contained in these slides or the related presentation are not measures calculated in accordance with generally accepted accounting principles (GAAP). They should not be considered a replacement for GAAP results. Non-GAAP financial measures appearing in these slides are identified in the footnotes. A reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures is included in the Appendix.


B U S I N E S S O V E R V I E WM I K E B U R B A C H │ P R E S I D E N T , N O R T H - W E S T R E G I O N


• One of North America’s largest metals processors and distributors, with 2015 sales of $3.2 billion

• Approximately 100 interconnected locations in North America and China

• Founded in 1842; listed on NYSE since 2014

• Distribute 65,000 products to 40,000 active customers

Ryerson: Scale and Network

4


Metal Service Center Supply Chain

5

S U P P L I E R S

• Manufacture metals

• Produce & ship large volumes

• Have long lead times with high variance delivery times

R Y E R S O N S E R V I C E C E N T E R S• Purchase in scale; ship smaller quantities

• Distribute more than 65,000 carbon, stainless, and aluminum products

• Process 75% of products sold

• Deliver same/next day

• Provide product and end-market expertise

C U S T O M E R S

• Purchase smaller quantities

• Require a variety of products and services

• Can leverage Ryerson to reduce processing and inventory investment needs


RYERSONLeveraging Scale and

Integrated Network

“ONE RYERSON”• Single franchise / one brand

• Great customer experiences

Ryerson’s Differentiated Model: What Customers Value

6

CONNECTIVITY• Technical knowledge

• Processing & fabrication

• Logistics

• Inventory

MULTI-CHANNEL SALES• Local sales and service

• Customer service

prospecting centers

• Ryerson.com / e-commerce

GEOGRAPHIC SCALE• Service largest metals markets

to meet our customers’ needs


Highlights: Excellent Execution Amidst Bottoming Secular Trends

7

• Stabilizing and improving industrial metal commodity prices

• Pressure for secular demand improvement building as under-investment is prevalent

Macro Environment

• Proven expense and working capital management

• Ryerson business model and execution building momentum

• Market share gains

• Cash generation and reducing leverage

Ryerson’s Execution


0.400

0.500

0.600

0.700

0.800

0.900

1.000

1.100

1.200

1.300

Pri

ce

in

de

x t

o J

un

. 2

01

4

CRU HRC LME Nickel Midwest Aluminum

Source: Bloomberg

2016 Commodity Prices: Global Capacity Surplus Rebalancing Carbon Recovery With Range-Bound Nickel and Aluminum

8

2016 Prices

Chg. Jun '14 vs.

Dec '15

Chg. Dec '15 vs.

May '16

CRU HRC (USD/st) -47% 66%

LME Nickel Cash Average (USD/lb) -53% 0%

Midwest Aluminum (USD/lb) -25% 2%


PMI Trends: Slowly Improving From A Bottoming Over The Past Three Quarters

9

U . S . M A N U F A C T U R I N G P M I53.1 53.1

51.9

51.0

50.0

49.4

48.448.0

48.2

49.5

51.8

50.8

51.3

MAY-15 JUN-15 JUL-15 AUG-15 SEP-15 OCT-15 NOV-15 DEC-15 JAN-16 FEB-16 MAR-16APR-16 MAY-16

Source: Bloomberg


2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

6,000

Ton

s in

Th

ou

san

ds Average Tons Jan. '93 - Oct. '08 = 4,200

Average Tons Nov. '08 - Present = 3,200

Macro Trends: Promising Over The Longer-Term With Underinvestment Notable Since 2009

10

Source: Metals Service Center Institute

U . S . C A R B O N a n d S T A I N L E S S S T E E L S H I P M E N T S


End Market Mix, Recovery and Growth

11

2 0 1 5 S A L E S M I X

GROWING

DECLINING

STABLECommercial Ground

Transportation18%

Metal Fabrication and Machine Shops

18%

Industrial Machinery and Equipment

17%

Consumer Durable10%

HVAC8%

Construction Equipment

8%

Food Processing & Ag.

7%

Oil & Gas7%

All Other7%

Shading based on Q1 2016 vs. Q1 2015

tonnage change:


Generating strong cash flows and reducing debt balances

Enhancing margins with greater value-add

Building sustainable competitive advantages to fuel growth

Industry-leading expense and working capital management

Excellent execution and market share gains

A Ryerson for All Seasons with Competitive Advantages Built Around Speed, Scale, Value-Add, Culture and Analytics

12

NATHAN NORMANSERVICE CENTER OPERATOR

ELDRIDGE, IOWA


Our culture: contributing meaningfully to our customers’ success

MARGIN EXPANSIONOPERATIONAL EFFICIENCY

Leveraging scale in highly fragmented market

Multi-channel sales and distribution platform

Investment in capabilities

Bolt-on acquisitions

Unleashing analytics

PROFITABLE GROWTH

INDUSTRY-LEADING PERFORMANCE

Optimize product and customer mix

Value-added processing

Value-driven pricing

Supply chain innovation, architecture and leadership

Expense and working capital leadership

Significant operating leverage

Best practice talent management

Speed


Source: Metals Service Center Institute

T O N N A G E M A R K E T S H A R E

Impressive U.S. Carbon and Stainless Market Share Gains

14

3.41%3.46%

3.51%3.53%

3.75%

Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16


Optimizing Mix to Improve Gross Margin Dollars

15

Fabrication10.4%

Cut Long & Plate4.2%

As-Is Long & Plate20.3%

Cut to Length Sheet63.1%

2 0 1 5 S A L E S M I X2 0 1 0 S A L E S M I X

• Expand value-added processing: More than 75% of metal gets processed to customer

specifications with growth in high margin fabrication

• Understand margins, cost to serve, asset efficiency and industry math

Fabrication6.7%

Cut Long & Plate2.9%

As-Is Long & Plate18.7%

Cut to Length Sheet67.8%


Competitor averages are based on Ryerson’s analysis of financial information disclosed in competitors’ SEC filings.Competitor averages include Reliance Steel & Aluminum, Olympic Steel, Kloeckner Metals, Russel Metals and A.M. Castle.

Ryerson

Competitor Averages

Proven Operational Efficiency and Industry Leadership

16

Expense % excluding D&A and one-time items is a non-GAAP financial measure.A reconciliation of this non-GAAP financial measure to the comparable GAAP measure is included in the Appendix.

82 84

82 80

75

110 109106

109

101

2012 2013 2014 2015 Q1 2016

11.5%

12.5%11.9%

12.9%

14.0%

16.5%

17.5% 17.6%

19.1%

20.5%

2012 2013 2014 2015 Q1 2016

EXPENSE PERCENTAGEEXCLUDING D&A AND ONE-TIME ITEMS

DAYS OF SUPPLY


F I N A N C I A L O V E R V I E WJ I M C L A U S S E N │ R E G I O N C F O


Maintain operational efficiency

Manage working capital

Maximize liquidity position

Ryerson Financial Priorities

18

Propel growth, invest in high return capital projects and bolt-on acquisitions


2016 Q1 Performance Highlights

19

Earnings• Net income of $13.5M• Earnings per share of $0.42, or $0.26 on an adjusted basis• Gross margin increased 370 bps to 21.0% vs. Q1 ‘15• Gross margin, excluding LIFO increased 300 bps to 18.9% vs. Q1 ‘15• Adjusted EBITDA, excluding LIFO of $37M

Market Share Gains• Ryerson volume up 0.4% year-over-year vs. MSCI decline of 8.5%

Expense Reductions• Expenses down $7M, or 6%, versus Q1 ‘15

Working Capital, Cash Flow & Liquidity• Cash flow from Operating Activities of $47M• Net debt was $286M (24%) lower than year-end 2014• Total liquidity of $313M improved by $40M compared

to 2015 year-end

ANGEL ALFAROOPERATIONS SUPERVISOR

ELGIN, ILLINOIS


Quarterly Financial Highlights: Managing Well Through a Downturn

476 488 492

441

478

Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

TONS SHIPPED (000'S)

1,824 1,722

1,606 1,517 1,470

Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

AVERAGE SELLING PRICE PER TON

17.3%19.7% 19.0%

15.2%

21.0%

Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

GROSS MARGIN

15.9% 15.3% 16.3% 16.8%18.9%

Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

GROSS MARGIN EXCL. LIFO


Quarterly Financial Highlights: Managing Well Through a Downturn

($3)

$16 $7

($21)

$14

Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

NET INCOME ($M)

$36 $29 $30

$14

$37

Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

ADJ. EBITDA EXCL. LIFO ($M)


$1,188

$1,127

$1,070$1,043

$958

$902

Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

Ongoing Debt Reduction Through an Industry Downturn

22

Reduced Debt

$286M

N E T D E B T ( $ M )


• More than $100 million in growth capex since 2010, expanding value-added capabilities

• Developed and enhanced intelligent systems for connecting people, supply chains, inventory, fixed assets and logistics for exceptional customer experiences

• Six bolt-on acquisitions since 2010

• Accretive to earnings and margins

• Focus on value-added processing

• Broaden transactional customer portfolio

• Enhance supply chain network and service points

Investing in the Business

23

JASON CHONTOS, MAC BHAGWANDINEOPERATIONS SUPERVISOR, LINE PACKAGER

BURNS HARBOR, ILLINOIS


C O N C L U S I O NM I K E B U R B A C H │ P R E S I D E N T , N O R T H - W E S T R E G I O N


Industry-leading expense and working capital management

Enhancing margins with greater value-add

Building sustainable competitive advantages to fuel growth

Excellent execution and market share gains

Generating strong cash flows and reducing debt balances

Conclusion

25

Rising prices expected to impact operating trends starting in 2Q’16

SHAWN ZUKSLITTER OPERATORBURNS HARBOR, ILLINOIS


A P P E N D I X


SCALE

VALUE-ADD

SPEED CULTURE

ANALYTICS

Ryerson’s DNA

27


Ryerson’s “Periodic Table”: How We Deliver Value to Customers

28

METAL SHAPE PROCESSING

CARBON

STAINLESS

ALUMINUM

FAB

BURN/CUTAS IS

FLAT LONG PLATEF

AB

BU

RN

/CU

T

AS

IS


Leveraging Scale and Integrated Network

Service Center 12 Multi-Markets

Ryerson Integrated Network of Approximately 100 Locations

BENEFITSBetter asset utilization:

• Shared and optimized inventory• Shared processing equipment• Shared human resources

More responsive customer service and prospecting:

• Local service center • Ryerson.com / e-commerce • After hours call centers


Tailwinds Forming in our End Markets

30

End Market Customer Recent End Market Commentary Industry Growth Outlook

Commercial Ground Transportation

Steady growth expected going forward after a 2016 reset due to previously strong environment

4.3%(2015-2019 U.S. Medium and Heavy Truck Volume CAGR)

Metal Fabrication and Machine Shops

Strong performance in 2015;Continued improvement expected throughout 2016

3.5%(2014-2019 U.S. Fabricated Metal Production Shipments CAGR)

Industrial Machinery and Equipment

Maintains consistent growth profile 2.0%(2015-2020 U.S. Machinery Market Value CAGR)

Consumer Durables Improvements driven by consumer spending 3.1%(2014-2020 U.S. Major Household Appliance Demand CAGR)

HVACStrong performance in 2015;

Continued improvement expected throughout 20167.1%

(2015-2020 Americas HVAC Market Revenue CAGR)

Construction Equipment Transportation bill expected to drive infrastructure spend 5.8%(2015-2020 U.S. Non-res. Construction Put in Place CAGR)

Food Processing Tied to strong consumer spending levels

Oil & GasDeclines continued throughout 2015;

Long-term stabilization and growth expectedReturn to growth in 2017

(North America E&P Capex Spend)

Sources: Wall Street Research.

Agricultural EquipmentSteady growth expected going forward after a 2016 reset due

to previously strong environment

2.7%(2015-2020 U.S. Food, Beverage and Tobacco Processing Equipment

Value CAGR)

3.1%(2015-2019 U.S. Agricultural Machinery Volume CAGR)


Ryerson Expects to Benefit from Commodity Price Increases Beginning in 2Q 2016

31

Trade Cases

• Carbon sheet case rulings

• Recently filed actions on stainless by US producers against China

• Newly filed case on coiled carbon plate against 12 countries

• ENFORCE Act & TPA – better trade case accountability

• EU & India also targeting Chinese overcapacity with trade cases

• Overall environment shifting to a domestic offshore rebalancing


Counter-Cyclical Cash Flow: $281M Generated Over 13 Quarters

$162.9

32

Cash Flow from Operations ($M)

$48

($73)

$259

$47

2013 2014 2015 Q1 '16


Adequate Availability and Liquidity to Finance RYI’s Business Plan

33

North American Availability Cash & EquivalentsForeign Availability

185

240

23

25 65

48 $273

$313

Q4-15 Q1-16


EBITDA represents net income before interest and other expense on debt, provision for income taxes, depreciation and amortization. Adjusted EBITDA gives further effect to, among other things, impairment charges on assets, reorganization expenses and the payment of management fees. We believe that the presentation of EBITDA, Adjusted EBITDA , Adjusted EBITDA, excluding LIFO expense (income), and other non-GAAP numbers included in the presentation provides useful information to investors regarding our operational performance because they enhance an investor’s overall understanding of our core financial performance and provides a basis of comparison of results between current, past and future periods. We also disclose the metric adjusted EBITDA, excluding LIFO expense (income), to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories. EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), are three of the primary metrics management uses for planning and forecasting in future periods, including trending and analyzing the core operating performance of our business without the effect of U.S. generally accepted accounting principles, or GAAP, expenses, revenues and gains (losses) that are unrelated to the day to day performance of our business. We also establish compensation programs for our executive management and regional employees that are based upon the achievement of pre-established EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), targets. We also use EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), to benchmark our operating performance to that of our competitors., EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income) do not represent, and should not be used as a substitute for, net income or cash flows from operations as determined in accordance with generally accepted accounting principles, and neither EBITDA, Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense (income), is necessarily an indication of whether cash flow will be sufficient to fund our cash requirements. This presentation also presents gross margin, excluding LIFO expense (income), which is calculated as gross profit plus LIFO expense (or minus LIFO income), divided by net sales. We have excluded LIFO expense (income) from the gross margin and Adjusted EBITDA as a percentage of net sales metrics in order to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories as we do. We also have disclosed the metric warehousing, delivery, selling, general and administrative expenses excluding depreciation and amortization and IPO expenses to provide a means of comparison to our prior periods that do not include IPO-related expenses. Our definitions of EBITDA, Adjusted EBITDA, Adjusted EBITDA, excluding LIFO expense (income), gross margin, excluding LIFO expense (income), and Adjusted EBITDA, excluding LIFO expense (income), as a percentage of sales may differ from that of other companies. Net income (loss) and earnings (loss) per share excluding impairment charges on assets and gain on debt retirement is presented to provide a means of comparison with periods that do not include impairment charges on assets and gain on debt retirement.

Non-GAAP Reconciliation

34



35

($M) 2010 2011 2012 2013 2014 2015

Net Sales 3,895.5 4,729.8 4,024.7 3,460.3 3,622.2 3,167.2

Gross Profit 539.8 658.8 709.6 616.6 593.8 567.7

LIFO Expense (Income) 52.4 48.6 (63.1) (33.0) 42.3 (59.5)

Gross Profit, excluding LIFO 592.2 707.4 646.5 583.6 636.1 508.2

Gross Margin, excluding LIFO 15.2% 15.0% 16.1% 16.9% 17.6% 16.0%

Warehousing, delivery, selling, general and administrative expenses 506.9 539.7 508.9 480.1 509.2 450.8

IPO-related expenses - - - - 33.0 -

Depreciation and amortization expense 38.4 43.0 47.0 46.6 45.6 43.7

Warehousing, delivery, selling, general and administrative expenses

excluding Depreciation and Amortization and IPO-related expenses 468.5 496.7 461.9 433.5 430.6 407.1

Expense excluding Depreciation and Amortization, impairment, restructuring, and

IPO-related expenses % of Net Sales 12.0% 10.5% 11.5% 12.5% 11.9% 12.9%

Net Income (loss) attributable to Ryerson Holding (104.0) (8.1) 47.1 127.3 (25.7) (0.5)

Interest and other expense on debt 107.5 123.1 126.5 110.5 107.4 96.3

Provision (benefit) for income taxes 13.1 (11.0) (5.5) (112.3) (0.7) 3.7

Depreciation and amortization expense 38.4 43.0 47.0 46.6 45.6 43.7

EBITDA 55.0 147.0 215.1 172.1 126.6 143.2

Reorganization 19.1 17.8 5.8 11.5 5.4 9.7

Gain on sale of assets - - - - (1.8) (1.9)

Gain on settlements (2.6) - - - (0.4) (4.4)

Advisory service fee 5.0 5.0 5.0 5.0 28.3 -

Loss of retirement of debt - - 32.8 - 11.2 (0.3)

Foreign currency transaction (gains) losses 2.7 0.8 1.5 (3.7) (5.3) (1.5)

Impairment charges on fixed assets and goodwill 1.4 9.3 1.0 10.0 - 20.0

Gain on bargain purchase - (5.8) - - - -

Purchase consideration and other transaction costs - - 4.3 3.5 11.2 3.7

Other adjustments 0.5 0.4 (0.8) 4.2 - -

Adjusted EBITDA 81.1 174.5 264.7 202.6 175.2 168.5

LIFO Expense (Income) 52.4 48.6 (63.1) (33.0) 42.3 (59.5)

Adjusted EBITDA, excluding LIFO 133.5 223.1 201.6 169.6 217.5 109.0

Adjusted EBITDA Margin, excluding LIFO 3.4% 4.7% 5.0% 4.9% 6.0% 3.4%



36

RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES

Reconciliation of Net Income (Loss) and Earnings (Loss) per Share Excluding Impairment

Charges on Assets and Gain on Debt Retirement

(Dollars and Shares in Millions, Except Per Share Data)

Dollars and Shares in Millions, Except per Share Data Q1 '16 Q1 '15

Net Income (loss) attributable to Ryerson Holding Corporation 13.5$ (2.5)$

Earnings (loss) per share, basic and diluted $0.42 ($0.08)

Impairment charges on assets and gain on debt retirement to exclude:

Impairment charges on assets - 12.3

Gain on debt retirement (8.2) -

Provision (benefit) for income taxes 2.9 (4.9)

Net income (loss) attributable to Ryerson Holding Corporation, excluding impairment

charges on assets and gain on debt retirement 8.2$ 4.9$

Earnings (loss) per share, excluding impairment charges on assets and gain on

debt retirement - basic and diluted 0.26$ 0.15$

Shares outstanding - basic and diluted 32.1 32.0

Note: Net income (loss) and Earnings (loss) per share excluding impairment charges on assets and gain

on debt retirement is presented to provide a means of comparison with periods that do not include

impairment charges on assets and gain on debt retirement.

First Quarter



37

($M) Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

Net income (loss) attributable to Ryerson Holding Corporation (2.5) 15.8 6.7 (20.5) 13.5

Interest and other expense on debt 25.3 23.8 25.4 21.8 22.0

Provision (benefit) for income taxes (0.2) 10.2 6.1 (12.4) 8.1

Depreciation and amortization expense 11.1 11.1 11.7 9.8 10.9

EBITDA 33.7 60.9 49.9 (1.3) 54.5

Reorganization 1.5 2.2 1.3 4.7 1.3

Gain on sale of assets - - - (1.9) -

Gain on settlements - - - (4.4) -

(Gain) loss on retirement of debt 0.5 0.2 (1.0) - (8.2)

Foreign currency transaction (gains) losses (1.6) 0.5 (0.1) (0.3) 2.9

Impairment charges on assets 12.3 1.4 0.5 5.8 -

Purchase consideration and other transaction costs 1.5 1.1 0.5 0.6 1.5

Other adjustments - (0.1) (0.1) 0.2 -

Adjusted EBITDA 47.9 66.2 51.0 3.4 52.0

LIFO expense (income), net (12.0) (37.0) (21.3) 10.8 (14.8)

Adjusted EBITDA, excluding LIFO expense (income), net 35.9 29.2 29.7 14.2 37.2

Net sales 868.0 840.4 790.0 668.8 702.6

Adjusted EBITDA, excluding LIFO expense (income), net, as a percentage of net sales 4.1% 3.5% 3.8% 2.1% 5.3%

Gross profit 150.0 165.8 150.3 101.6 147.6

LIFO expense (income), net (12.0) (37.0) (21.3) 10.8 (14.8)

Gross profit, excluding LIFO expense (income), net 138.0 128.8 129.0 112.4 132.8

Gross margin, excluding LIFO expense (income), net 15.9% 15.3% 16.3% 16.8% 18.9%


Net Debt Calculation

38

($M) Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

Total Debt 1,259.1 1,202.4 1,145.0 1,094.2 1,023.5 976.6

Less: Cash and cash

equivalents60.0 70.8 66.0 48.3 63.2 70.5

Less: Marketable securities 11.2 5.1 8.6 3.1 2.2 3.8

Net Debt 1,187.9 1,126.5 1,070.4 1,042.8 958.1 902.3

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