1. Institute for Supply Management Commodity Panel – Metals Mark Lasky, CEO Sadoff Iron and Metal Company November 10, 2015

2.  Edward H. Rudoy – Block Salvage Company, 1947  Sadoff and Rudoy Industries 1964  Sadoff Iron & Metal Company 2015  9 Locations – 240 Employees  Fond du Lac, WI (Arndt St. + Scott St)  Berlin, WI  Green Bay, WI  Sheboygan, WI  Manitowoc, WI  Oshkosh, WI  Lincoln, Nebraska  Omaha, Nebraska Ferrous -Nonferrous - Electronic Scrap

3. A visual depiction of the metal commodity markets:

4. Key Ferrous Scrap Market Pricing Indexes Scrap CommodityPrice on Oct.1, 2014Price on Oct.1, 2015Price ChangePercent Change No. 1 Dealer Bundles $390 per gross ton$199 per gross ton($191)(49%) Shredded Scrap $356 per gross ton$200 per gross ton($156)(44%) No. 1 Heavy Melt $343 per gross ton$176 per gross ton($167)(49%) Source: Scrap Price Bulletin, October 19, 2015

5. Statistics and Industry Facts US Scrap Exports 2011:24 million tons (US export record) 2012:21 million tons 2013:18 million tons 2014:15 million tons 2015:13 million tons (est) US Steel Mill Operating Rate 2014:77.8% 2015:71.6%

6. Why???

7. Source: American Metal Market, Copper COMEX 1 st most active close

8. Source: American Metal Market, Aluminum LME official 3-month bid

9. Source: American Metal Market, Nickel – LME official 3 month bid

10. Mark Lasky, CEO Sadoff Iron and Metal Company (920) 906-5601 www.sadoff.com