GrafTech Publishes Investor Presentation Related to the 2024 Annual Meeting of Stockholders

GrafTech International Ltd. (NYSE: EAF) (“GrafTech,” the “Company,” “we,” or “our”) today announced that on April 17, 2024, it filed additional proxy materials with the Securities and Exchange Commission (the “SEC”) with respect to its 2024 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on May 9, 2024. The Company’s filing contains a presentation to its stockholders from GrafTech’s Board of Directors (the “Board”) which, among other matters, responds to comments about the Company and Board made by Nilesh Undavia, a private investor who has nominated himself for election to the Board.

The presentation elaborates on the following points, among others:

• The Board’s culture is one that is eager and open to hearing stockholder views and to adding new voices to the Board. However, after an exhaustive and open-minded vetting of Mr. Undavia’s candidacy, the Board concluded Mr. Undavia’s skillsets are not additive to the Board.

• GrafTech has a newly constituted Board and is focused on delivering value for all stockholders. The Board is experienced, highly engaged, refreshed and majority independent.

• GrafTech’s Board and management team have taken decisive action in response to the industry-wide cyclical downturn. In contrast, Mr. Undavia has not provided any new or differentiated views with respect to GrafTech’s strategy.

• The Board has nominated two highly experienced, independent and qualified nominees (Mr. Anthony R. Taccone and Ms. Debra Fine), consistent with the Board’s objective to have a diversity of complementary skills and opinions.
  • Mr. Taccone brings over 35 years of deep knowledge of the global steel industry, with an intimate understanding of our customers.
  • Ms. Fine brings over 30 years of deep knowledge of capital markets, including over two decades of investing in the steel industry, and has over 20 years of executive leadership experience as a chief executive officer.

In summary, the Board does not endorse Mr. Undavia’s candidacy and urges you to vote “FOR” the nominees recommended by the Board using the WHITE proxy card. The Board further urges you to DISCARD all blue proxy cards and materials sent to you by Mr. Undavia.