SCHN 2017 Proxy Statement

December 20, 2017 Fiscal 2017 continued to demonstrate the success of our strategic initiatives to adapt to market changes, improve our operating efficiencies, increase our sales volumes and operating margins, and drive higher performance. Moving forward, our improved profitability and strong balance sheet should provide us with the flexibility and financial strength to take advantage of evolving market opportunities and further increase shareholder value. On behalf of the entire Board of Directors and our over 3,000 employees, I want to thank you for your continued support and investment in our business. Our commitment to strong corporate governance reflects our belief that a solid framework which links operational, financial, and governance goals creates long-term value for our shareholders. We value the ongoing dialogue we have with our shareholders, and we encourage you to continue to share your suggestions by writing to our Board of Directors at the address below: Board of Directors Schnitzer Steel Industries, Inc. 299 SW Clay Street, Suite 350 Portland, OR 97201 We have posted our proxy materials at www.proxydocs.com/SCHN. We believe this allows us to provide our shareholders with the information they need while lowering the costs and reducing the environmental impact of delivering printed copies of our proxy materials. If you would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting the materials included in the notice you received by mail, or as listed on our website. Please ensure that your shares are represented by promptly voting and submitting your proxy. Instructions have been provided for each of the alternative voting methods on the next page of this proxy statement. Sincerely, Tamara L. Lundgren President and Chief Executive Officer 2 | Notice of Annual Meeting of Shareholders and 2017 Proxy Statement