STEEL DYNAMICS Business Summary

Steel Dynamics Inc. (STLD) operates a vertically integrated circular manufacturing model, generating revenue through the production of low-carbon steel, metals recycling, and downstream steel fabrication. As of early 2026, the company’s operations are organized into four primary segments: Steel Operations, which produces flat-rolled and long products using energy-efficient Electric Arc Furnace (EAF) technology; Metals Recycling (OmniSource), providing a critical internal supply of ferrous scrap; Steel Fabrication (New Millennium Building Systems); and its newly launched Aluminum Operations, which is currently ramping up to target the beverage can and automotive sectors. Steel Dynamics maintains a top-tier market position in North America, distinguished by its high-margin efficiency and lower carbon footprint compared to integrated blast furnace producers. Its primary competitors include Nucor Corporation, Cleveland-Cliffs, and United States Steel, with STLD positioning itself as a diversified metals solutions provider with a strategic focus on sustainable, high-recycled-content products. Founded in 1993 by Mark D. Millett, Richard P. Teets Jr., and Keith E. Busse, the company is led by a seasoned executive team with deep industry pedigree. Mark D. Millett serves as Chairman and Chief Executive Officer, having been a central figure in the company’s growth from a startup to a Fortune 500 leader. The leadership team also includes Barry T. Schneider as President and Chief Operating Officer, and Theresa E. Wagler as Executive Vice President and Chief Financial Officer. The company’s governance is supported by an experienced board featuring members like Lead Independent Director Kenneth Cornew and Union Pacific CFO Jennifer Hamann. Steel Dynamics is approximately 76% institutionally owned, with major shareholders including Vanguard, Norges Bank, and the State of Wisconsin Investment Board, reflecting strong market confidence in its capital allocation and expansion into the aluminum market.