Worthington Industries Announces Public Filing of Form 10 Registration Statement - Seite 2

The Form 10 Registration Statement filed publicly today with the SEC includes important information about Worthington Steel as a standalone company. Completion of the planned separation is subject to, among other things, general market conditions, finalization of the capital structure of the two companies, completion of steps necessary to qualify the separation as a tax-free transaction, receipt of regulatory approvals and final approval by the Company’s Board of Directors. The Company may, at any time and for any reason until the proposed transaction is complete, abandon the planned separation or modify or change its terms, including the individual businesses and components of each of the two companies. There can be no assurance regarding the ultimate timing of the separation or that the separation will ultimately occur. A copy of the Form 10 is available on the SEC website at www.sec.gov.

Worthington Industries will host an Investor and Analyst Day on October 11, 2023, in New York City where future senior leaders representing Worthington Enterprises and Worthington Steel will provide an in-depth review of their strategies to drive long-term growth and shareholder value. Investors and analysts interested in participating virtually may register at this link. Those interested in attending in-person please email [e-mail].

As previously announced, the planned separation is now expected to occur as early as December 2023, ahead of the originally projected timing of early 2024. More information on Worthington 2024 is available on the Company’s website at Worthingtonindustries.com/W24.

About Worthington Industries
Worthington Industries (NYSE: WOR) is a leading industrial manufacturing company pursuing its vision to be the transformative partner to its customers, a positive force for its communities and earn exceptional returns for its shareholders. For over six decades, the Company has been delivering innovative solutions to customers spanning industries such as automotive, energy, retail and construction. Worthington is North America’s premier value-added steel processor and producer of laser welded solutions and electrical steel laminations that provide lightweighting, safety critical and emission reducing components to the mobility market. Through on-board fueling systems and gas containment solutions, Worthington serves the growing global hydrogen ecosystem. The Company’s focus on innovation and manufacturing expertise extends to market-leading consumer products in tools, outdoor living and celebrations categories, sold under brand names, Coleman, Bernzomatic, Balloon Time, Level5 Tools, Mag Torch, Well-X-Trol, General, Garden-Weasel, Pactool International and Hawkeye; as well as market leading building products, including water systems, heating & cooling solutions, architectural and acoustical grid ceilings and metal framing and accessories.