WORTHINGTON INDUSTRIES COMPLETED SPIN-OFF OF WORTHINGTON STEEL

7 December 2023

On December 1st, 2023, Worthington Enterprises, Inc. (NYSE: WOR) formerly Worthington Industries, Inc., a leading industrial manufacturing company, announced that it had completed the previously announced separation of its Steel Processing business, Worthington Steel, Inc., into a standalone, publicly traded company.

Worthington Steel common stock will begin “regular-way” trading on the New York Stock Exchange (NYSE) under the ticker symbol “WS”.

Worthington Enterprises common stock continues trading on the NYSE under the ticker symbol “WOR”.

Andy Rose, president and chief executive officer, Worthington Enterprises, said: “Today is a major milestone in Worthington’s history. As separate companies, both Worthington Enterprises and Worthington Steel will be better able to serve their respective customers, deliver on their more focused strategic priorities and create superior long-term shareholder value. I want to thank our teams for their hard work successfully executing this separation, and I look forward to seeing all that both companies will accomplish going forward.”

The spin-off distribution was completed at 12:01 a.m. ET on Dec. 1, 2023, to shareholders of record as of the close of business on Nov. 21, 2023 (the “Record Date”).

Worthington Enterprises shareholders received one common share of Worthington Steel for every one common share of Worthington Industries they held on the Record Date.

Worthington Enterprises Completes Separation of Worthington Steel


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