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Schnitzer Board Declares Quarterly Dividend

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The Board of Directors of Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) declared a cash dividend of $0.1875 per common share, payable August 24, 2020, to shareholders of record on August 10, 2020. Schnitzer has paid a dividend every quarter since going public in November 1993.

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 Companys 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 Companys steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.

Investor Relations Contact: Michael Bennett – (503) 323-2811

Website: www.schnitzersteel.com

Email: [email protected]