EFTA Document EFTA01385457

pn3eg 4ueg eiptinea 0 00 ca Figure 7: U.S. Domestic Steel Companies Relative Value Comparison (S, millions) 03 m Corporal. &Katy TaxonPrie• Bond Teter/Recommend Bosomy' Deocation A% Stool Asooloclottal Connordal Metals Co. Nucor Ryerson Stool Dynamics V.S. Stool *KS $5 64 MT NA 327 47 csic $21 12 ME $64 19 Ryi $10 IS $11.0 $4303 X $3496 AKS BUY MIX% BUY CLIC NR NILE NR Rai BUY STUD MOLD X MR Mortfacturor Stool Manubelteor Sot Montiacturse Stool Mw*MCKItI Melab Sono* Cunt Stool Maruloclume Stoll MentAseturce c= 2 CI BIGOMISMISMITII LW LTM LTM LTM LTM LIN LTM -2: 0 OD Per Enchng $0017 Sop-17 A 4347 Oct-17 Sop-17 Sop-17 5•947 REVENUE K 1(001 $55.096 1( 870 $11.1C $3.253 $11.113 $11.787 WON Prot( Gross Meow 822 O. 7% 671 14 7% 2.492 130% 561 173% 1.571 172% 1 222 104% sz ro Ear EBIT Mew, 323 454 $4641 5 009 77% 120 26% 1.655 97% 62.36 103 32% I 059 120% $1.377 CO 3.5% an 07 07 cr EDEMA $180 non user 0% 12.2% 13.1% 5.0% 151% $.4% CIT7 Captal Ex ;ordure. Nel 134 2 555 .at% 213 570 203 329 Ra 19 weresi Expense 155 651 44 172 90 138 272 En Cain Taxs (41) tE/5 21 Eaa Mit 1 47 0 SIMPLE FREE CASH FLOW $201 Sa164 Peel $1.272 672 Vat $387 FCF/Ooof 100% 278% .73% 312% 59% 290% 133% MIAOW R•541/ EBODevirmant 250c 12 lax 5001 15 3Ca 1997 99Th 3 644 Nei Secured DebtlEBITITIA 1.564 4.314 4234 4.606 6.394 4.784 4.726 Nil CobVIEBITC7A 4.444 1.514 2.684 1.074 6.314 1.044 1.224 Totag Deot/EISICA 4504 1 884 3.714 16Th 5.80x 1 Mc 293x NEV/EBITDA 440x 1.614 11464 1.074 6.396 7.044 1.22* ResoNer Sue/Malmny $1,340 13-5m742 $5.503 21-Dec-19 $350 28-44349 $1.501 14-Apr-21 $750 15440•41 $1.200 14.Noo19 51.500 2744-20 Outillmang Isu476$ NO Stool Proolorallttal Coonurclal Metals Co. Nucor Rrrata SUM 0141WrICS V.S. Stool ancorvRaniana 7 500% IL See Nit 6 125% Sr Ms 4 875% Sr NH 5850% Sr Ms 11000% Sec Ms 0 125% Sr Ms 375% IL See Ms Amoun7.1Malunty $380 7/15/2023 $643 6182018 $330 5/1572023 $500 6/1/2018 9650 0/1542022 $700 100/2021 $780 7/1/2021 Coll Peco/Cell Oats 103 750 7/15.42019 NO ne 100 030 2/15/2023 no no 105.500 5/1542019 102 563 1/22/2018 106 281 7/1/2018 Pnetl(MooWs/SIP) 103 250 BI/BB. 101 500 EtaISBe 102 250 862/13B+ 101.592 Etaal/A- 112 783 Caal/B 102.250 BalaBe 109 125 01/86 y71/9/51:46473 430% 228 435% 208 2 09% 33 518% 319 377% 191 258% 80 YISN/SFreal per 1 Os of Nat Lm 200 137 170 87 196 31 96 59 3412 184 457 .117 C0403NReNtex7 5000% Sr Coasts 5 125% Si Mt 5.375% Sr Ms 4 125% Sr Me 5 250% SI Nis 7.375% Sr Ms Amount/Matuety 5150 11/15/2019 6324 611/2020 5300 7/15/2027 $803 9/15/2022 $403 4154023 $432 01/2020 CaO Prico/Call Oat* no no no 102 655 7/15/2022 100 000 91512022 102 625 4/15=15 no no Prlce/(Moo0tyS6P) 131.875 113/16 104500 EM1/684/ 102 030 8a2108+ 106 010 Baal/A- 102 750 Bo ISle 109 OCO Caa1/B Y1W/Specal -9 96% 4204 3 18% 105 506% 26$ 269% 42 4 34% 222 3 21% 109 YTW/Spesd Per 1.04 of Net I3g -223 .270 211 6$ Mt 704 252 39 411 273 214 DO CoupenrRaNwo 7625% Sr Ms 5 250% Sr Ms 6 1251E Sr NM 4 030% Sr Ms 5 500% Sr Ms 6 575% Sr Ms ArnaunilMalunty 6403 10/112021 $626 11/5/2320 no 8/820215 $500 8/1/2023 $503 10/1/2024 $750 8/1512025 Call Prat/Call Oat* 103 813 1/22/2018 no no no 100 000 5/12023 102.750 10182019 103 438 8/1512020 Pnce(M000fl/SSP) 103.750 03/8- 105.$00 Ba1/BB. 114 750 Ba1/884 105 988 Baal/A- 105.750 Bali1313* 103 250 Cas1/0 STVV/S0403 501% 316 352% 137 362% 145 279% 45 362% 156 6.08% 379 VTW/Spreal per 1 Co of Net Mg N3 71 233 97 253 06 241 45 341 752 497 311 CoupHYRommo 6 375% Si Ms 5 500% Si Me 7 030% Sr Ms 6400% SI Ms 4 125% Sr SW 6 660% Sr Ms Amounidialunly 8280 10/15/2025 5756 3/1/2021 $1.117 10115/2039 $650 12/1/2037 $350 9/15/2025 $NO 6/12037 Call Prico/Call Oeta 103 188 10/1572020 M ro no no no na 102.053 9/1512020 rr no Pnce(lAoccal/S8P) 96.750 BUB- 103 000 ENISB4 10 030 Ba1/084 132 327 Boal/A. 100.375 Ba1/13B/4 96 660 Caa MB TON/Spread 658% 421 332% 113 531% 275 4 03% 145 4 04% 176 676% CO Yll/V/Speal pales of Nei Lm IM se 220 75 362 182 377 736 318 reo 655 345 COucorvRonlana 7000% Si Ms 62506 Sr Ms 6 750% SI Nts 200% St Ms 5 00274 St Ms ArneartiMatunty 6400 3/192027 $869 2/250022 16273 3/1/2041 $503 6/12043 $403 12/1512023 Cell Price/Coll Oslo 103.500 3/15/2022 F. ne no no 100 000 2/1/2043 102 500 1015/2021 PncW(Meo01s/S&P) 101.750 83/B- 111 250 EtsICIBe 126 500 Ba1A3fix 118 822 Suva - 10.500 Ba1/13114 STVY/Sirnl 660% 433 3 80% 155 526% 260 400% 141 4 07% 153 YTW/SFrami per 1 Crx of Net Lo7 150 97 282 103 341 178 375 732 391 175 Mum 0.4474% BR% Comm% .470% Ibentrp Mame tP CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0086742 SDNY_GM_00232926 EFTA01385457