1. Where Do We Go From Here? May 4, 2011 Mark S. Kamon
VP International / Dynamet / CPP
Carpenter Technology Corporation
Unless otherwise noted, the logo and registered trademarks are property of CRS Holdings, Inc. a subsidiary of Carpenter Technology Corporation.

2. Overview 36 years Carpenter Future
Happiness Engage – Exchange - Inspire
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3. Is U.S. Manufacturing Dying?
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4. U. S. Manufacturing Trends . . .
Employees at local steel company 4,500 1,200
U.S. Mfg. employees as % of total 16% 11%
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5. U. S. Manufacturing Trends . . .
Employees at local steel company , ,200
U.S. Mfg. employees as % of total 16% 11%
U.S. share of global mfg % 22%
Total U.S. GDP - $Bil 4, ,500
U.S. Mfg. GDP - $Bil ,900
Manufacturing is alive and well . . .
© 2011 CRS Holdings, Inc. All rights reserved

6. Carpenter Technology develops, manufactures and distributes high-performance specialty alloys to meet the challenges of advancing technologies. (NYSE:CRS)
© 2011 CRS Holdings, Inc. All rights reserved

7. More Than a Steel Company
Since the early 1990s, Carpenter has grown from a U.S. specialty steel producer to a specialty materials producer with a global reach.
A Global Presence
About 50 manufacturing, sales and distribution facilities on four continents
in 18 different time zones
in more than a dozen languages
in which more than 10% of our employees work outside the U.S.
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8. Carpenter Technology Core Values Aspiration
Drive world-class innovation for diverse applications
Enable customer success in demanding applications
Loyalty, integrity, respect, dignity, work ethic and professionalism guide our actions
Dedication, pride in craftsmanship, quality and service shine through in all we do
Positive force in our community
Aspiration
Become the most profitable, most global and most respected company in specialty metals
© 2011 CRS Holdings, Inc. All rights reserved
© 2011 CRS Holdings, Inc. All rights reserved

9. A Diverse Product Catalog
High-strength steels
Superior corrosion-resistant alloys
High temperature alloys
Titanium alloys
Stainless steels
Tool and die steels
other specialty and custom grades
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10. Carpenter is All Around You in These Major Global Markets
Aerospace
Energy
Automotive
Medical
Consumer Products
Industrial
Defense
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11. Carpenter Sales FY 2010
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12. Engineered Materials For Aerospace
$604 Million
42% of Revenues CY2010
STRUCTURAL/ OTHER COMPONENTS
Flaptrack / Slat Track Components
Landing Gear
Avionics / APU
FASTENERS (Airframe/Pylon)
ENGINE COMPONENTS
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13. Engineered Materials For Medical Applications
Steady Market Growth and Share Gain in Higher Value Products
ARTIFICIAL DISCS AND SPINAL FIXATION
SURGICAL NEEDLES AND STAPLES
DENTAL INSTRUMENTS AND IMPLANTS
FRACTURE FIXATION
HIP AND KNEE REPLACEMENTS
VASCULAR DEVICES (stents)
Arterial Stent
© 2011 CRS Holdings, Inc. All rights reserved
© 2011 CRS Holdings, Inc. All rights reserved

14. Diversifying Energy Applications
Oil & Gas
Non Mag drill collars
Wireline/slick line
Completions
Power Generation
Gas turbines
Nuclear
Gas Turbine Disc
Wireline/ Slickline
Completions
Nuclear Primary Circuit
Non-Mag collars
11 Additional Applications in Development
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15. Key Applications - Defense
Existing Applications
Applications in Development
Lighter – Faster - Stronger
M-1 Abrams engine components
Missile Systems
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16. Key Applications - Consumer
Existing Applications
Applications in Development
Specialty
Sporting
Goods
Tubulars
and Face cages
Cutting
Blades
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17. World Class Modeling Drives Efficiency
Computational design used in new product development
Increases speed to market and reduces manufacturing costs
Alloy Design
ESR Melting
Forging
Drawing
State of the art simulation tools for process and alloy development create competitive advantage
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18. Powder Technology Applications
Storage racks for spent nuclear fuel
Near net shapes
HIGHLIGHTS
Metal powders and hot isostatic pressing (HIP) can provide large near-net shapes (NNS) with weight > 20 tons
NNS can replace forgings and castings as a manufacturing process for producing components required in power generation, oil & gas
HIGHLIGHTS
New alloy has neutron absorbing capability superior to current alloys
The alloy will affect a net cost savings by increasing the life of wet storage racks for nuclear fuel to more than 60 years
Powder technology targeting the energy market. Market size >$100M
© 2011 CRS Holdings, Inc. All rights reserved
© 2011 CRS Holdings, Inc. All rights reserved

19. Specialty Alloys Main plant headquarters in Reading, PA since 1889
Manufactures long-product specialty metals in a wide range of shapes, sizes and finishes
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20. Focus on Establishing a Broad Footprint
Production Locations
Carpenter Technology Corporation (Reading, PA)
Talley Metals Technology Inc. (Hartsville, SC)
Shalmet Corporation (Orwigsburg, PA; Elyria, OH)
Dynamet Inc (Washington, PA; Clearwater, FL)
Carpenter Powder Products (Bridgeville, PA; Woonsocket, RI; Torshalla, Sweden)
Carpenter Specialty Wire Products (Orangeburg, SC)
Amega West Services (Tyler, Texas)
& Sales
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21. © 2011 CRS Holdings, Inc. All rights reserved

22. Workforce of the Future . . .
Then Now
Company Loyalty Mobile
Security Growth / Diversity
HS/BS/MS MS/PhD/Special
Move Locations Selective
Job #1 Multi-Faceted
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23. Leaders of the Future . . .
International experience desired / required
Science and Technology experience
Multi-cultural / multi-lingual
Change is normal!
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24. Relocation Future . . . Third party provider
Current Home: Future Home:
- Marketing Find it - Selling transaction Fill it - Family guidance Zero family hassles
Speed, full service, positive interaction
High potential clients – sophisticated, future company leaders
80% of all international relos “touch” the U.S.
© 2011 CRS Holdings, Inc. All rights reserved

25. . . . “Life, Liberty and the Pursuit of Happiness” Declaration of Independence July 4, 1776
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26. “Pursuit of Happiness . . . “
H - Honesty, Integrity
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27. “Pursuit of Happiness . . . “
H - Honesty, Integrity
A - Attitude
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28. “Pursuit of Happiness . . . “
H - Honesty, Integrity
A - Attitude
P - Pride - “Sign your actions”
© 2011 CRS Holdings, Inc. All rights reserved

29. “Pursuit of Happiness . . . “
H - Honesty, Integrity
A - Attitude
P - Pride - “Sign your actions”
P - People - Build relationships
© 2011 CRS Holdings, Inc. All rights reserved

30. “Pursuit of Happiness . . . “
H - Honesty, Integrity
A - Attitude
P - Pride - “Sign your actions”
P - People - Build relationships
Y - You - You make the choices . . .
© 2011 CRS Holdings, Inc. All rights reserved