GlobeNewswire Inc | May 24, 2021 04:06PM EDT

May 24, 2021

PHILADELPHIA, May 24, 2021 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) announced today that it will increase base prices six percent (6%) to nine percent (9%) on new, non-contract orders across all specialty alloy products. The increases will be effective with new orders placed after May 24, 2021. All applicable surcharges will remain in effect.

About Carpenter Technology Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, transportation, energy, industrial, medical, and consumer electronics markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys, including titanium, nickel, and cobalt, as well as alloys specifically engineered for additive manufacturing (AM) processes and soft magnetics applications. Carpenter Technology has expanded its AM capabilities to provide a complete end-to-end solution to accelerate materials innovation and streamline parts production. More information about Carpenter Technology can be found at www.carpentertechnology.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on managements current expectations and are subject to risks, uncertainties and other factors that could cause actual results to differ from those projected, anticipated or implied. The most significant of these uncertainties are described in Carpenter's filings with theSecurities and Exchange Commission, including its annual report on Form 10-K for the year endedJune 30, 2020, the quarterly reports on Form 10-Q for the quarters endedSeptember 30, 2020, December 31, 2020 and March 31, 2021andthe exhibits attached to those filings. They include, but are not limited to, statements regarding announced base price increases. Carpenter undertakes no obligation to update or revise any forward-looking statements.

Media Inquiries: Investor Inquiries:Heather Beardsley The Plunkett Group+1 610-208-2278 Brad Edwardshbeardsley@cartech.com +1 914 582-4187 brad@theplunkettgroup.com