Ampco-Pittsburgh (NYSE

AP) Subsidiary Announces Customer Contract Win; Sees Significant Growth in Total Backlog

Ampco-Pittsburgh Corporation (NYSE: AP) (“Ampco-Pittsburgh” or the “Corporation”) today announced that the Buffalo Air Handling Division (“Buffalo Air Handling”) of Air & Liquid Systems Corporation (“Air & Liquid Systems”), a wholly-owned subsidiary of the Corporation, has received a $9.6 million order for a custom air handling unit project for a major healthcare provider located in the southeastern United States.

Brett McBrayer, Ampco-Pittsburgh’s chief executive officer, commented, “This is the largest single order our Buffalo Air Handling division has seen in decades and underscores our importance to the healthcare sector. It also reflects the growth we are now seeing in our order backlog across the Corporation. Not only has Air & Liquid Systems secured the highest backlog levels in its history, but Ampco-Pittsburgh’s backlog is now at its highest level since the start of the pandemic.”

“The acceleration in demand for air handling units has been remarkable,” stated David Anderson, President of Air & Liquid Systems. “We see similar demand trends in our Aerofin and Buffalo Pumps businesses; signs that our customers value and demand these specialized products which service critical military, healthcare, pharmaceutical, industrial, and energy needs. We are proud of our dedicated team and the quality products they produce.”

Mr. McBrayer continued, “Our total order backlog is now up by around one-third compared to prior year Q1, given the growth in Air & Liquid Systems, and as roll demand for flat-rolled steel and aluminum has accelerated and as forged engineered product demand has grown, particularly given the rise in oil prices. This growth will place a heavy demand on working capital, which is being magnified by inflation. We are proactively planning the financing of that growth to capture maximum potential. In addition, the capital equipment modernization program is on schedule, with the first pieces of equipment expected to be received in Q4 2022.”

About Ampco-Pittsburgh Corporation

Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products which principally are sold to customers in the steel distribution market, oil and gas industry and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden and Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.