TimkenSteel amends annual incentive plan and approves performance RSU agreement for 2023-2025

Metallus Inc.

APA Plan amended effective 2023; metrics and weightings updated for executive and key employee annual cash incentives.
New performance-based RSU agreement for 2023-2025 cycle approved; payout ranges from 0% to 200% of target based on three-year management objectives.
Plan uses corporate metrics (cash flow, EBITDA, ROIC) and individual performance ratings; Committee may adjust objectives for business changes.
PRSUs vest after three-year period; pro-rata vesting on death, disability, retirement with company consent, divestiture, or layoff with severance.

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