Leading Proxy Advisor ISS Recommends GrafTech Stockholders Vote “FOR” Board-Recommended Director Nominees

GrafTech International Ltd. (NYSE: EAF) (“GrafTech,” the “Company,” “we,” or “our”) today announced that leading proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that GrafTech stockholders vote “FOR” the nominees recommended by GrafTech’s Board of Directors (the “Board”), Ms. Debra Fine and Mr. Anthony Taccone, using the WHITE proxy card. ISS further recommends that GrafTech stockholders vote “WITHHOLD” on dissident nominee, Mr. Nilesh Undavia, and should NOT vote using the blue proxy card sent by Mr. Undavia. GrafTech’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”) is to be held on May 9, 2024.

In a report sent to its clients on April 26, 2024, ISS stated the following:

• “On its part, the board appears to be fully cognizant of all of the issues facing the company, and to be taking appropriate action to address them.”

• “In its dealings with the dissident, the board has raised what appear to be legitimate concerns with the dissident's candor, especially in completing the director questionnaire, and the board's questions about whether the dissident is in a position to exercise the duty of care required of a director do not seem unfounded.”

• “Nonetheless, the board is engaged in addressing the company's problems, and additional change at the board level does not appear to be needed at this time. As such, votes for management nominees Fine and Taccone are warranted on the management (WHITE) card.”

The recommendation of ISS is independent recognition that GrafTech’s newly refreshed Board is focused on delivering value for all stockholders. The Board is experienced, highly engaged and majority independent. Further, the Board and management team have taken decisive action in response to the industry-wide cyclical downturn, and GrafTech is successfully executing its strategic initiatives.

The Board has nominated two highly experienced, independent and qualified nominees (Ms. Fine and Mr. Taccone), consistent with the Board’s objective to have a diversity of complementary skills and opinions.

• Ms. Fine brings over 30 years of deep knowledge of capital markets, including over two decades of investing in the steel industry, and has over 20 years of executive leadership experience as a chief executive officer.

• Mr. Taccone brings over 35 years of deep knowledge of the global steel industry, with an intimate understanding of our customers.

GrafTech reminds stockholders that every vote is important and encourages its stockholders to review the GrafTech proxy solicitation materials carefully and use the WHITE proxy card to vote today only “FOR” the nominees recommended by the Board, Ms. Fine and Mr. Taccone.