GrafTech Announces the Launch of an Initial Public Offering

BROOKLYN HEIGHTS, Ohio–(BUSINESS WIRE)–GrafTech International Ltd. (the “Company”) today announced the launch
of an initial public offering of 37,777,777 shares of its common stock.
The shares are being offered by its sole stockholder, an affiliate of
Brookfield Business Partners LP, a publicly listed business services and
industrials company of Brookfield Asset Management Inc., at an initial
offering price per share between $21 and $24. The selling stockholder
expects to grant the underwriters a 30-day overallotment option of up to
an additional 5,666,666 shares. The Company has applied to list its
common stock on the New York Stock Exchange under the ticker symbol
“EAF.”

J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are
acting as joint lead book running managers and as representatives of the
underwriters for the offering; Citigroup Global Markets Inc., RBC
Capital Markets, LLC and HSBC Securities (USA) Inc. are also acting as
joint book running managers for the offering; BMO Capital Markets Corp.,
BNP Paribas Securities Corp., CIBC World Markets Corp., National Bank
Financial, Inc. and TD Securities (USA) LLC are acting as co-managers
for the offering.

The proposed offering of the securities will be made only by means of a
prospectus. When available, copies of the preliminary prospectus
relating to the offering may be obtained from: J.P. Morgan Securities
LLC, Attention: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions 1155 Long Island Avenue, Edgewood, NY 11717, or via telephone:
1-866-803-9204; or Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, NY 10010, or by
telephone at (800) 221-1037, or by email at [email protected].

A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

GrafTech International Ltd. is a leading manufacturer of high
quality graphite electrode products essential to the production of
electric arc furnace (or EAF) steel and other ferrous and non-ferrous
metals.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this press release regarding the Company that are not
historical facts are “forward-looking statements” that involve risks and
uncertainties. The Company undertakes no obligation to update the
information contained in this press release to reflect subsequently
occurring events or circumstances.

GTI-G

Contacts

GrafTech International Ltd.
Quinn Coburn, 216-676-2000
Vice
President and CFO