SCHN 2017 Proxy Statement

Notice of Annual Meeting of Shareholders of Schnitzer Steel Industries, Inc. Date: Tuesday, January 30, 2018 Time: 8:00 A.M. Pacific Place: KOIN Center, Conference Center 222 SW Columbia Street, Room 202 Portland, Oregon 97201 Record Date: December 1, 2017 AGENDA: • ELECT three directors • APPROVE , by non-binding vote, executive compensation • DETERMINE , by non-binding vote, the frequency of future shareholder advisory votes on executive compensation • RATIFY our independent registered public accounting firm for fiscal 2018 • CONDUCT any other business that properly comes before the meeting or any adjournment or postponement thereof Only shareholders of record at the close of business on the Record Date are entitled to receive notice of and to vote at the Annual Meeting or any adjournments thereof. Please vote your shares We encourage shareholders to vote promptly, as this will save the expense of additional proxy solicitation. Voting can be completed in one of four ways: Mail Internet Telephone In Person Return the proxy card by mail Follow online instructions on the proxy card Call the toll-free number provided on the proxy card Attend the annual meeting with your ID Even if you plan to attend the Annual Meeting, we encourage you to vote by internet, telephone, or mail so your vote will be counted if you later decide not to or cannot attend the Annual Meeting. If you attend the Annual Meeting, you may then revoke your proxy and vote in person if you desire. By Order of the Board of Directors Peter B. Saba Secretary Notice Regarding the Availability of Proxy Materials This notice of Annual Meeting of Shareholders and related proxy materials are being distributed or made available to shareholders beginning on or about December 20, 2017. This notice includes instructions on how to access these materials (including our proxy statement and 2017 annual report to shareholders) online. SCHNITZER STEEL INDUSTRIES, INC. 299 SW Clay Street, Suite 350 Portland, Oregon 97201 December 20, 2017 Important information if you plan to attend the Annual Meeting: If you plan to attend the Annual Meeting in person, you must bring the Notice Regarding the Availability of Proxy Materials. If your shares are not registered in your name, you will need a legal proxy and account statement or other documentation confirming your Schnitzer Steel Industries stock holdings from the broker, bank, or other institution that holds your shares. You will also need a valid, government-issued picture identification that matches your Notice Regarding the Availability of Proxy Materials, legal proxy, or other confirming documentation. Notice of Annual Meeting of Shareholders and 2017 Proxy Statement | 3