SCHN 2017 Annual Report

SCHNITZER STEEL INDUSTRIES, INC. 26 / Schnitzer Steel Industries, Inc. Form 10-K 2017 Performance Graph The following graph and related information compares cumulative total shareholder return on our Class A common stock for the five-year period from September 1, 2012 through August 31, 2017, with the cumulative total return for the same period of (i) the S&P 500 Index, (ii) the S&P Steel Index and (iii) the NASDAQ Composite Index. These comparisons assume an investment of $100 at the commencement of the period and that all dividends are reinvested. The stock performance outlined in the performance graph below is not necessarily indicative of our future performance, and we do not endorse any predictions as to future stock performance. Year Ended August 31, 2012 2013 2014 2015 2016 2017 Schnitzer Steel Industries (1) $ 100 $ 94 $ 106 $ 69 $ 78 $ 116 NASDAQ 100 119 153 162 179 223 S&P 500 100 119 149 149 168 195 S&P Steel Index 100 99 125 97 108 123 _____________________________ (1) Because we operate in two distinct but related businesses, we have no direct market peer issuers. 50 100 150 200 250 300 SCHNITZER NASDAQ S&P 500 S&P Steel 0 (Index = 100) August 2012 August 2013 August 2014 August 2015 August 2016 August 2017