<SEC-DOCUMENT>0001157523-14-001467.txt : 20140422
<SEC-HEADER>0001157523-14-001467.hdr.sgml : 20140422
<ACCEPTANCE-DATETIME>20140422074232
ACCESSION NUMBER:		0001157523-14-001467
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140422
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140422
DATE AS OF CHANGE:		20140422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLEGHENY TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001018963
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL PIPE & TUBES [3317]
		IRS NUMBER:				251792394
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12001
		FILM NUMBER:		14775254

	BUSINESS ADDRESS:	
		STREET 1:		1000 SIX PPG PLACE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222
		BUSINESS PHONE:		4123942800

	MAIL ADDRESS:	
		STREET 1:		100 SIX PPG PLACE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLEGHENY TELEDYNE INC
		DATE OF NAME CHANGE:	19960716
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50847621.htm
<DESCRIPTION>ALLEGHENY TECHNOLOGIES INC. 8-K
<TEXT>
<html>
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  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">
      <br>
      <br>
      <font style="font-size: 11pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-size: 11pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>Washington,
      DC 20549</b></font><br><br><font style="font-size: 14pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><br><font style="font-size: 13pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><font style="font-size: 11pt; font-family: Times New Roman"><b>
      Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font><br><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 40%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">Date
            of Report (Date of earliest event reported):</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; width: 60%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">April
            22, 2014</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Allegheny Technologies Incorporated
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Exact
            name of registrant as specified in its charter)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Delaware
          </p>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; width: 34%; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1-12001
          </p>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; width: 33%; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            25-1792394
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; width: 75%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1000 Six PPG Place, Pittsburgh, Pennsylvania
          </p>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; width: 25%; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            15222-5479
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 75%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 25%" valign="bottom">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
            telephone number, including area code</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; width: 55%; padding-right: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (412) 394-2800
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            N/A
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Former
            name or former address, if changed since last report).</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
    <p>
      <!--end_optional_former-->
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 2.02. &#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</b>
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      On April 22, 2014, Allegheny Technologies Incorporated issued a press
      release with respect to its first quarter 2014 financial results. A copy
      of the press release is attached as Exhibit 99.1 and is being furnished,
      not filed, under Item 2.02 of this Current Report on Form 8-K.<br><br><br><b>Item
      9.01. &#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="white-space: nowrap">

    </p>
    <p style="white-space: nowrap">
      <i>(d)&#160;&#160;&#160;&#160;Exhibits.</i>
    </p>
    <p style="white-space: nowrap; text-indent: 30.0px">
      Exhibit 99.1&#160;&#160;Press release dated April 22, 2014.
    </p>
    <p style="white-space: nowrap; text-indent: 30.0px">

    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURE</b></font></u><br><br>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="text-indent: 30.0px">
      <br>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            ALLEGHENY TECHNOLOGIES INCORPORATED
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 39%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 4%" valign="top">
          By:
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; width: 51%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>/s/ Elliot S. Davis</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 51%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Elliot S. Davis
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 51%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Senior Vice President, General Counsel,
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 51%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Compliance Officer and Corporate Secretary
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 51%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 39%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            April 22, 2014
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 51%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: left">

    </p>
  </body>
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     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50847621ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2014 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>ATI
      Announces First Quarter 2014 Results</b></font>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>First
      Quarter 2014 Results, Continuing Operations</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Sales
        were $987 million</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Segment
        operating profit was $43.5 million, or 4.4% of sales</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        loss attributable to ATI was $18.1 million, or $(0.17) per share</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Cash on
        hand was $838 million</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        debt to total capitalization of 27.9%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Gross
        cost reductions were $30 million</b></font>
      </li>
    </ul>
    <p>
      PITTSBURGH--(BUSINESS WIRE)--April 22, 2014--Allegheny Technologies
      Incorporated (NYSE: ATI) reported first quarter 2014 sales of $987.3
      million and a loss from continuing operations attributable to ATI of
      $18.1 million, or $(0.17) per share. For the first quarter 2013, net
      income from continuing operations attributable to ATI was $9.7 million,
      or $0.09 per share, on sales of $1,099.0 million.
    </p>
    <p>
      &#8220;As we began 2014, we were cautiously optimistic that business
      conditions would gradually improve as we move through the year,&#8221; said
      Rich Harshman, Chairman, President and Chief Executive Officer. &#8220;Our
      first quarter results and our near-term outlook are consistent with that
      view. While the first quarter was challenging, business conditions
      improved as the quarter progressed. As we enter the second quarter, we
      are seeing meaningful signs of continued improvement. Our backlog at
      $1.8 billion is at its highest point in the last two years. Demand from
      the jet engine market is beginning to improve for both new builds and
      aftermarket spares. The oil &amp; gas supply chain appears to be in better
      balance. The markets for flat-rolled stainless sheet and plate and
      grain-oriented electrical steel are improving and base price increases
      are being realized. In addition, demand from long-stalled project
      business is beginning to reappear.&#8221;
    </p>
    <p style="text-align: left">
      ATI&#8217;s sales to the key global markets of aerospace and defense, oil &amp;
      gas/chemical process industry, electrical energy, and medical
      represented 67% of ATI first quarter 2014 sales, as follows:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; margin-right: 0; margin-left: 0; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Aerospace &amp; defense
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          35%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Oil &amp; gas/chemical process industry
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          16%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Electrical energy
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          11%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Medical
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          5%
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">
      International sales were $374 million and represented 38% of ATI 2014
      sales.
    </p>
    <p>
      High-value products sales were over 78% of ATI first quarter 2014 sales
      and increased almost 9% compared to the fourth quarter 2013. Sales of
      nickel-based alloys and specialty alloys increased 16% compared to the
      fourth quarter 2013 and represented 25% of first quarter 2014 ATI sales.
      Sales of our titanium mill products, including Uniti joint venture
      conversion, increased 3% compared to the fourth quarter 2013 and
      represented 15% of first quarter 2014 ATI sales, with shipments of these
      titanium mill products improving to 8.7 million pounds, a 9% increase
      compared to the fourth quarter 2013. Sales of precision forgings and
      castings increased 15% compared to the fourth quarter 2013 and
      represented 14% of first quarter 2014 sales. Sales of Precision Rolled
      Strip&#174; products and engineered strip products were flat compared to the
      fourth quarter 2013 and represented 14% of first quarter 2014 ATI sales.
      Demand was flat for zirconium and related alloys and grain-oriented
      electrical steel from the nuclear energy and chemical process industry,
      and electrical power generation markets, respectively.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;Segment operating profit was nearly $44 million, or 4.4% of sales,&#8221; Mr.
      Harshman continued. &#8220;This represents an increase of $54 million compared
      to the fourth quarter 2013. While demand for many of our products
      improved throughout the first quarter, higher inventory costs resulting
      from higher unit conversion costs due to lower operating rates in the
      fourth quarter 2013, combined with the impact of higher raw material
      costs for products with longer manufacturing cycle times not aligned
      with lagging raw material indices/ surcharges, continued to impact
      operating profit, particularly in the Flat Rolled Products segment.
      Operating profit in the High Performance Materials &amp; Components segment
      was $69.1 million, or 14.3% of sales. This was $52 million higher than
      the fourth quarter 2013, as demand began to improve from the jet engine
      and airframe markets, and from the oil &amp; gas market. Flat Rolled
      Products segment operating results were a loss of $25.6 million, or
      (5.1)% of sales. This represented a modest improvement of $2 million
      compared to the fourth quarter 2013. While demand improved from the oil
      &amp; gas, chemical process industry and automotive markets, operating
      margins remain at low levels due to the higher unit conversion costs and
      raw material inventory costs previously mentioned.
    </p>
    <p>
      &#8220;High Performance Materials &amp; Components segment first quarter 2014
      results continued to be negatively impacted by low operating rates at
      our Rowley, UT titanium sponge facility and by our strategic decision to
      use ATI-produced titanium sponge rather than lower cost titanium scrap
      to manufacture certain titanium products. This is expected to continue
      throughout 2014. The Premium Qualification (PQ) program at Rowley
      remains on schedule. We have produced all of the sponge required as part
      of the qualification process and this sponge is now being melted into
      mill products for further processing. The Rowley facility is an
      important part of our long-term titanium products growth strategy. The
      facility is expected to provide ATI with a reliable, safe, and secure
      supply of high quality, competitive titanium sponge.
    </p>
    <p>
      &#8220;Flat Rolled Products segment first quarter results include start-up
      costs of $2.3 million related to the Hot-Rolling and Processing Facility
      (HRPF). Cold commissioning of the HRPF was completed in the first
      quarter 2014. We have begun the hot commissioning of the HRPF, which is
      on schedule to be completed in October 2014. We expect start-up costs of
      approximately $5 million in the second quarter 2014 as part of the
      commissioning process. The HRPF is a critical part of our strategy to
      transform our flat rolled products business into a more competitive and
      profitable growth business. It is designed to significantly expand our
      product offering capabilities, shorten manufacturing cycle times, reduce
      inventory requirements, and improve the cost structure of our flat
      rolled products business. We expect to begin to realize these benefits
      in 2015.
    </p>
    <p>
      &#8220;Cost reduction remains a strategic focus and we have targeted a minimum
      of $100 million in new gross cost reductions for 2014. Our operations
      achieved $30 million in gross cost reductions during the first quarter
      2014. These cost reductions will benefit ATI operations over the rest of
      2014. In addition, managed working capital was reduced to 35.6% of
      annualized sales at the end of March 2014 from 39.4% at year-end 2013
      due to higher business activity in the first quarter 2014.
    </p>
    <p>
      &#8220;Our balance sheet remains solid with cash on hand of $838 million and
      net debt to total capitalization of 27.9% at the end of the first
      quarter 2014. There were no borrowings outstanding under ATI&#8217;s $400
      million unsecured domestic credit facility. Including ongoing
      investments associated with the HRPF project, we currently expect 2014
      capital expenditures to be approximately $300 million, of which $40
      million was spent in the first quarter.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;We acquired Dynamic Flowform Corp. in February 2014, which has been
      renamed ATI Flowform Products, adding precision flowforming process
      technologies to ATI&#8217;s capabilities to produce specialty materials and
      components. We expect ATI Flowform Products to improve our market
      position in the aerospace and defense, oil &amp; gas and chemical process
      industry markets.&#8221;
    </p>
    <p>
      &#8220;In April 2014, we decided to close our LaPorte, IN iron castings
      facility, which was held for sale as part of discontinued operations.
      After an extensive process, we concluded that we could not complete a
      sale transaction on commercially acceptable terms. We expect to record
      approximately $2 million in closure costs, primarily severance, in the
      second quarter 2014 as a result of this decision.&#8221;
    </p>
    <p>
      Results of operations, including discontinued operations, were as
      follows:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="6">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="6">
          <b>March 31</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2014</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="2">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top" colspan="6">
          <b>In Millions</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Sales from continuing operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          987.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,099.0
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income (loss) from continuing operations attributable to ATI
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (18.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          9.7
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Income (loss) from discontinued operations attributable to ATI
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (1.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          0.3
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net income (loss) attributable to ATI
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (20.0
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          10.0
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="top" colspan="6">
          <b>Per Diluted Share</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="middle">
          Continuing operations attributable to ATI per common share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (0.17
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.09
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="middle">
          Discontinued operations attributable to ATI per common share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (0.02
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          &#8722;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="middle">
          Net income (loss) attributable to ATI per common share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (0.19
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.09
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <u><b>Strategy and Outlook</b></u>
    </p>
    <p>
      &#8220;For the first time in several years we are beginning to see early signs
      of what appears to be sustainable improvement and demand growth from
      most of our end markets. Lead times are beginning to extend for many of
      our products, modest base-selling price increases are being realized,
      and raw material surcharges are moving in a positive direction. While
      these are early signs, they support our view that business conditions
      will continue to improve as we move through 2014.
    </p>
    <p>
      &#8220;As a result of these trends, we expect to achieve at or near break-even
      results from continuing operations in the second quarter 2014, excluding
      HRPF start-up costs.
    </p>
    <p>
      &#8220;In addition, we maintain our focus on taking actions to improve ATI&#8217;s
      near-term financial performance while we continue to strengthen our
      position for long-term sustainable profitable growth. As we look at the
      short-term, we are continuing our cost reduction actions, aggressively
      identifying and acting on market opportunities that provide important
      short-term business volume opportunities, and implementing actions to
      reduce managed working capital. As we look at the next 3 to 5 years, we
      are focused on maximizing value creation from the investments in new
      products, strategic capital projects, and strategic acquisitions we have
      made over the past several years. The headwinds that have made business
      conditions challenging appear to be dissipating. Global market
      conditions are beginning to show signs of sustainable improvement. We
      are negotiating a number of new long-term agreements and extension of
      existing agreements with strategic customers that are expected to
      continue to enhance ATI&#8217;s competitive market position, not only in mill
      products but also for parts and components.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;We continue to believe that market conditions remain favorable for
      long-term secular growth from our key markets of aerospace &amp; defense,
      oil &amp; gas/chemical process industry, electrical energy, and medical. And
      we remain focused on keeping ATI well-positioned for profitable growth
      over the long-term by building on our unmatched diversification in
      specialty materials products; technology leadership; and unsurpassed
      manufacturing capabilities.&#8221;
    </p>
    <p>
      <b>First Quarter 2014 Financial Results</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Sales </b>for the first quarter 2014 were $987 million, increasing
        8% sequentially compared to the fourth quarter 2013, but were 10%
        lower than the first quarter 2013. Compared to the fourth quarter
        2013, sales increased 11% in the High Performance Materials &amp;
        Components segment from higher shipments of titanium and nickel-based
        alloys, which offset lower titanium selling prices. Flat Rolled
        Products segment sales increased 5% sequentially compared to the
        fourth quarter 2013 due to higher shipments of high-value products and
        slightly improved selling prices for standard products, but decreased
        10% compared to the first quarter of last year due lower selling
        prices.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>First quarter 2014 segment operating profit </b>was $43.5 million,
        or 4.4% of sales, compared to a segment operating loss of $10.9
        million, or (1.2%) of sales, in the fourth quarter 2013, and segment
        operating profit of $77.5 million, or 7.1% of sales, in the first
        quarter 2013. First quarter 2014 results included $8.3 million in
        inventory valuation charges related to the market-based valuation of
        industrial titanium products in the Flat Rolled Products segment.
        Fourth quarter 2013 segment results included inventory valuation
        charges of $55.5 million, including $35.0 million in the High
        Performance Materials &amp; Components segment and $20.5 million in the
        Flat Rolled Products segment.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Income (loss) from continuing operations attributable to ATI</b> <b>for
        the first quarter 2014 </b>was a loss of $18.1 million, or $(0.17) per
        share. For the first quarter 2013, income from continuing operations
        attributable to ATI was $9.7 million, or $0.09 per share.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Net income (loss) attributable to ATI for the first quarter 2014</b>
        was a loss of $20.0 million, or $(0.19) per share, compared to net
        income of $10.0 million, or $0.09 per share in the first quarter 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Cash on hand</b> was $837.7 million, a decrease of $189.1 million
        from year-end 2013. Cash flow used in operations for the first quarter
        2014 was $56.9 million, and included $68.5 million of additional
        managed working capital due to higher business activity levels. Cash
        flow used in investing activities was $108.9 million for acquisitions
        and capital expenditures. Cash flow used in financing activities was
        $23.3 million.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Gross cost reductions</b>, before the effects of inflation, totaled
        $30.2 million company-wide in the first quarter 2014.
      </li>
    </ul>
    <p>
      <b>High Performance Materials &amp; Components Segment</b>
    </p>
    <p>
      <i>Market Conditions</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Demand in the first quarter 2014 improved for many of our products
        compared to the fourth quarter 2013. Sales to the jet engine and
        airframe aerospace markets were up 18% sequentially. Demand also
        improved from the oil &amp; gas and construction &amp; mining markets. Sales
        to the chemical process industry market remained weak on low
        project-based demand. Mill product shipments of our titanium and
        titanium alloys increased 20% on 10% lower average prices, and
        shipments of nickel-based and specialty alloys increased 13% on
        slightly higher average prices. Shipments of our zirconium and related
        alloys were down 17%, although average prices were 16% higher based on
        product mix. Sales of precision forgings and castings increased 15%
        compared to the fourth quarter 2013. International sales represented
        over 41% of total segment sales for the first quarter 2014.
      </li>
    </ul>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i><b>First quarter 2014 compared to first quarter 2013</b></i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Sales decreased 10% to $484.4 million compared to the first quarter
        2013 primarily as a result of lower mill product shipments, lower
        base-selling prices for most products, and lower raw material
        surcharges. Sales of nickel-based and specialty alloys were 8% lower,
        and sales of titanium and titanium alloys were 17% lower than the
        first quarter 2013. Forged and cast product components sales were 8%
        lower, while sales for zirconium and related alloys were 4% higher.
      </li>
      <li style="margin-bottom: 10.0px">
        Segment operating profit decreased to $69.1 million, or 14.3% of total
        sales, compared to $75.0 million, or 13.9% of total sales, for the
        first quarter 2013 primarily as a result of lower shipments. Segment
        results continued to be negatively impacted by low operating rates at
        our Rowley, UT titanium sponge facility and by the strategic decision
        to use ATI-produced titanium sponge rather than lower cost titanium
        scrap to manufacture certain titanium products.
      </li>
      <li style="margin-bottom: 10.0px">
        Results benefited from $14.0 million of gross cost reductions in the
        first quarter 2014.
      </li>
    </ul>
    <p>
      <b>Flat Rolled Products Segment</b>
    </p>
    <p>
      <i><b>Market Conditions</b></i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Demand improved compared to the fourth quarter 2013 from the oil &amp;
        gas/chemical process industry, automotive, and transportation markets.
        Compared to the fourth quarter 2013, shipments increased 4% for
        high-value products, with nickel-based alloys and grain-oriented
        electrical steel products higher and titanium product shipments lower.
        Standard stainless (sheet and plate) products shipments were flat.
        First quarter 2014 Flat Rolled Products segment titanium shipments,
        including Uniti joint venture conversion, were 2.4 million pounds, a
        14% decrease compared to the fourth quarter 2013, due to continued
        weak demand from global industrial markets. International sales
        represented almost 35% of total segment sales for the first quarter
        2014.
      </li>
    </ul>
    <p>
      <i><b>First quarter 2014 compared to first quarter 2013</b></i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Sales were $502.9 million, 10% lower than the prior year period,
        primarily due to lower raw material surcharges and reduced
        base-selling prices for most products. Shipments of high-value
        products increased 9% compared to the first quarter 2013, as shipments
        of our Precision Rolled Strip&#174; and engineered strip products,
        nickel-based alloys and grain-oriented electrical steel increased.
        Shipments of standard stainless products decreased 5%. Average selling
        prices declined 15% for high-value products and 9% for standard
        stainless products. Flat Rolled Products segment shipment information
        is presented in the attached Selected Financial Data &#8211; Mill Products
        table.
      </li>
      <li style="margin-bottom: 10.0px">
        Segment operating results were a loss of $25.6 million, or (5.1%) of
        total sales, compared to a profit of $2.5 million, or 0.4% of total
        sales, in the first quarter 2013. The decrease in operating results
        was primarily due to lower shipment volumes, the impact of higher raw
        material costs not aligned with raw material surcharges, and lower
        base-selling prices for some products. First quarter 2014 segment
        operating results included $8.3 million of charges for the
        market-based valuation of industrial titanium products. Segment
        results also included $2.3 million of start-up costs for the HRPF.
      </li>
      <li style="margin-bottom: 10.0px">
        Results benefited from $16.2 million in gross cost reductions in the
        first quarter 2014<i>.</i>
      </li>
    </ul>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Other Expenses</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Corporate expenses for the first quarter 2014 were $11.5 million,
        compared to $12.4 million in the year-ago period. The decrease in
        corporate expenses was primarily related to lower incentive
        compensation expenses associated with performance plans.
      </li>
      <li style="margin-bottom: 10.0px">
        Interest expense, net of interest income and capitalized interest, for
        the first quarter 2014 was $29.1 million, compared to $14.4 million in
        the first quarter 2013. The increase in interest expense was primarily
        due to reduced capitalized interest and higher debt levels.
      </li>
      <li style="margin-bottom: 10.0px">
        Capitalized interest on major strategic capital projects reduced
        interest expense by $2.3 million and $9.6 million for the 2014 and
        2013 first quarters, respectively. Capitalized interest for both
        periods primarily related to the HRPF project.
      </li>
      <li style="margin-bottom: 10.0px">
        Other expenses for the first quarter 2014 totaled $5.0 million,
        compared to $3.4 million in the prior year period, both relating to
        closed operations.
      </li>
    </ul>
    <p>
      <b>Retirement Benefit Expense</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Retirement benefit expense, which includes pension expense and other
        postretirement expense, decreased to $23.9 million in the first
        quarter 2014, compared to $32.5 million in the first quarter 2013. The
        decrease was primarily due to the use of a higher discount rate to
        value retirement benefit obligations. Approximately 85% of 2014
        retirement benefit expense is included in cost of sales, with the
        remainder included in selling and administrative expenses.
      </li>
    </ul>
    <p>
      <b>Income Taxes</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        The first quarter 2014 benefit for income taxes on continuing
        operations was $10.0 million, or 38.5% of the pre-tax loss, compared
        to the first quarter 2013 provision for income taxes on continuing
        operations of $3.5 million, or 23.6% of income before tax. Income
        taxes in both periods include the effects of adjustments related to
        prior years&#8217; and foreign taxes.
      </li>
    </ul>
    <p>
      <b>Cash Flow, Working Capital and Debt</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Cash on hand was $837.7 million at March 31, 2014, a decrease of
        $189.1 million from year-end 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Cash flow used in operations in the first quarter 2014 was $56.9
        million, including a $68.5 million investment in managed working
        capital associated with increased business activity. The increase in
        managed working capital in 2014 resulted from an $84.1 million
        increase in inventory and a $29.4 million increase in accounts
        receivable, partially offset by a $45.0 million increase in accounts
        payable. At March 31, 2014, managed working capital was 35.6% of
        annualized sales, compared to 39.4% of annualized sales at year-end
        2013. We define managed working capital as accounts receivable plus
        gross inventories less accounts payable.
      </li>
      <li style="margin-bottom: 10.0px">
        Cash used in investing activities was $108.9 million in 2014, and
        included $71.1 million for the acquisition of Dynamic Flowform Corp.,
        and $39.6 million of capital expenditures, primarily related to the
        HRPF.
      </li>
      <li style="margin-bottom: 10.0px">
        Cash used in financing activities was $23.3 million in 2014 and
        consisted primarily of dividends paid to shareholders.
      </li>
      <li style="margin-bottom: 10.0px">
        Net debt as a percentage of total capitalization was 27.9% at March
        31, 2014, compared to 24.1% at the end of 2013. Total debt to total
        capital was 40.4 % at March 31, 2014, compared to 40.2% at the end of
        2013.
      </li>
      <li style="margin-bottom: 10.0px">
        There were no borrowings outstanding under ATI&#8217;s $400 million
        unsecured domestic credit facility, although a portion of the letters
        of credit capacity was utilized.
      </li>
    </ul>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      ATI will conduct a conference call with investors and analysts on
      Tuesday, April 22, 2014, at 8:30 a.m. ET to discuss the financial
      results. The conference call will be broadcast, and accompanying
      presentation slides will be available, at <u>www.ATImetals.com</u>. To
      access the broadcast, click on &#8220;Conference Call&#8221;. Replay of the
      conference call will be available on the ATI website.
    </p>
    <p>
      This news release contains &#8220;forward-looking statements&#8221; within the
      meaning of the Private Securities Litigation Reform Act of 1995. Certain
      statements in this news release relate to future events and expectations
      and, as such, constitute forward-looking statements. Forward-looking
      statements include those containing such words as &#8220;anticipates,&#8221;
      &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;will
      likely result,&#8221; &#8220;forecast,&#8221; &#8220;outlook,&#8221; &#8220;projects,&#8221; and similar
      expressions. Forward-looking statements are based on management&#8217;s
      current expectations and include known and unknown risks, uncertainties
      and other factors, many of which we are unable to predict or control,
      that may cause our actual results, performance or achievements to differ
      materially from those expressed or implied in the forward-looking
      statements. Important factors that could cause actual results to differ
      materially from those in the forward-looking statements include: (a)
      material adverse changes in economic or industry conditions generally,
      including global supply and demand conditions and prices for our
      specialty metals; (b) material adverse changes in the markets we serve,
      including the aerospace and defense, electrical energy, oil and
      gas/chemical process industry, medical, automotive, construction and
      mining, and other markets; (c) our inability to achieve the level of
      cost savings, productivity improvements, synergies, growth or other
      benefits anticipated by management from strategic investments and the
      integration of acquired businesses, whether due to significant increases
      in energy, raw materials or employee benefits costs, project cost
      overruns or unanticipated costs and expenses, or other factors;
      (d)&#160;volatility of prices and availability of supply of the raw materials
      that are critical to the manufacture of our products; (e) declines in
      the value of our defined benefit pension plan assets or unfavorable
      changes in laws or regulations that govern pension plan funding;
      (f)&#160;significant legal proceedings or investigations adverse to us; and
      (g) other risk factors summarized in our Annual Report on Form 10-K for
      the year ended December 31, 2013, and in other reports filed with the
      Securities and Exchange Commission. We assume no duty to update our
      forward-looking statements.
    </p>
    <p>
      <i><b>Building the World&#8217;s Best Specialty Materials Company&#8482;</b></i>
    </p>
    <p>
      Allegheny Technologies Incorporated is one of the largest and most
      diversified specialty materials and components producers in the world
      with revenues of approximately $3.9 billion for the last twelve months.
      ATI has approximately 9,500 full-time employees world-wide who use
      innovative technologies to offer global markets a wide range of
      specialty materials solutions. Our major markets are aerospace and
      defense, oil and gas/chemical process industry, electrical energy,
      medical, automotive, food equipment and appliance, and construction and
      mining. The ATI website is <u>www.ATImetals.com</u>.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="14">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="14">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Allegheny Technologies Incorporated and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="14">
          <b>Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="14">
          <i>(Unaudited, dollars in millions, except per share amounts)</i>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="top" colspan="11">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Mar. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Dec. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Mar. 31</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Sales</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>987.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>915.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>1,099.0</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Costs and expenses:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cost of sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          917.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          904.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          998.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Selling and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          67.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          66.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          72.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Restructuring costs
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          67.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Income (loss) before interest, other income and income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (122.5
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          28.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (29.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (18.7
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (14.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Other income, net
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          0.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          0.4
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          1.1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Income (loss) from continuing operations before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (26.0
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (140.8
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Income tax provision (benefit)
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (10.0
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (59.2
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          3.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Income (loss) from continuing operations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(16.0</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(81.6</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>11.3</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Income (loss) from discontinued operations, net of tax
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (1.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          257.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          0.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Net income (loss)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(17.9</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>175.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>11.6</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Less: Net income attributable to noncontrolling interests
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2.1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          1.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <b>Net income (loss) attributable to ATI</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(20.0</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>173.4</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>10.0</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Basic net income (loss) per common share</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="3">
          <b>Continuing operations attributable to ATI per common share</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.17</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.79</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>0.09</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="3">
          Discontinued operations attributable to ATI per common share
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (0.02
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2.41
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <b>Basic net income (loss) attributable to ATI per common share</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.19</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>1.62</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>0.09</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Diluted net income (loss) per common share</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Continuing operations attributable to ATI per common share</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.17</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.79</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>0.09</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="3">
          Discontinued operations attributable to ATI per common share
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (0.02
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2.41
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <b>Diluted net income (loss) attributable to ATI per common share</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.19</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>1.62</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>0.09</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Amounts attributable to ATI common stockholders</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Income (loss) from continuing operations, net of tax</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(18.1</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(83.8</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>9.7</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Income (loss) from discontinued operations, net of tax
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (1.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          257.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          0.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <b>Net income (loss)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(20.0</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>173.4</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>10.0</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Weighted average common shares outstanding -- basic (millions)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          107.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          106.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          106.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Weighted average common shares outstanding -- diluted (millions)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          107.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          106.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          107.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Actual common shares outstanding-- end of period (millions)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          108.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          108.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          108.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td colspan="4">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="13">
          <b>Allegheny Technologies Incorporated and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="13">
          <b>Sales and Operating Profit by Business Segment</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="13">
          <i>(Unaudited - Dollars in millions)</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="top" colspan="11">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Mar. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Dec. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Mar. 31</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Sales:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          High Performance Materials &amp; Components
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          484.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          436.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          540.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Flat Rolled Products
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          502.9
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          478.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          558.9
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <b>Total External Sales</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>987.3</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>915.3</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>1,099.0</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Operating Profit (Loss):
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          High Performance Materials &amp; Components
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          69.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          17.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          75.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          % of Sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14.3
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          13.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Flat Rolled Products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (25.6
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (28.0
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          % of Sales
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -5.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -5.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          0.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Operating Profit (Loss):</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>43.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(10.9</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>77.5</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          % of Sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -1.2
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          7.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Corporate expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (11.5
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (10.7
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (12.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (29.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (18.7
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (14.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Restructuring costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (67.5
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Closed company and other expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (5.0
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (3.2
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (3.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Retirement benefit expense
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (23.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (29.8
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (32.5
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <b>Income (loss) from continuing operations before income taxes</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(26.0</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(140.8</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>14.8</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="8">
          <b>Allegheny Technologies Incorporated and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="8">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="8">
          <i>(Current period unaudited--Dollars in millions)</i>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top" colspan="2">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top" colspan="2">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="2">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="2">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Current Assets:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          837.7
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,026.8
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Accounts receivable, net of allowances for doubtful accounts of
            $5.1 and $5.3 at March 31, 2014 and December 31, 2013, respectively
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          557.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          528.2
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Inventories, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,408.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,322.1
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          86.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          67.6
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Current assets of discontinued operations
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          5.1
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          6.1
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top" colspan="2">
          <b>Total Current Assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>2,895.7</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>2,950.8</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,889.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,874.1
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Cost in excess of net assets acquired
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          775.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          727.9
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          353.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          342.0
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Noncurrent assets of discontinued operations
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          3.4
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          3.7
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <b>Total Assets</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>6,917.5</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>6,898.5</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>LIABILITIES AND EQUITY</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Current Liabilities:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          518.2
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          471.8
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          294.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          310.9
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          15.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3.5
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Short term debt and current portion of long-term debt
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          420.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          419.9
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Current liabilities of discontinued operations
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          4.9
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          4.9
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top" colspan="2">
          <b>Total Current Liabilities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>1,253.7</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>1,211.0</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,526.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,527.4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Accrued postretirement benefits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          432.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          442.4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Pension liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          361.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          368.2
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          214.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          206.6
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          148.6
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          148.2
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          <b>Total Liabilities</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>3,938.2</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>3,903.8</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Redeemable noncontrolling interest</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>12.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>-</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Total ATI stockholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,866.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,894.2
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Noncontrolling interests
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          100.8
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          100.5
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          <b>Total Equity</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>2,967.1</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>2,994.7</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <b>Total Liabilities and Equity</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>6,917.5</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>6,898.5</b>
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Allegheny Technologies Incorporated and Subsidiaries</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Condensed Consolidated Statements of Cash Flows</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <i>(Unaudited - Dollars in millions)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="7">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="top" colspan="7">
          <b>March 31</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Operating Activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net income (loss)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (17.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          11.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          44.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          48.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Deferred taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (1.7
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          36.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Change in managed working capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (68.5
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (84.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Change in retirement benefits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          16.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Accrued liabilities and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (17.0
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (85.7
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          <b>Cash used in operating activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(56.9</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(57.4</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Investing Activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Purchases of property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (39.6
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (86.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Purchase of business, net of cash acquired
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (71.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Asset disposals and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          1.8
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          0.7
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          <b>Cash used in investing activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(108.9</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(86.2</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Financing Activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Payments on long-term debt and capital leases
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (0.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (0.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Dividends paid to shareholders
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (19.3
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (19.2
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Taxes on share-based compensation and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (3.9
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (3.7
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          <b>Cash used in financing activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(23.3</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(23.0</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Decrease in cash and cash equivalents</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(189.1</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(166.6</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top" colspan="2">
          Cash and cash equivalents at beginning of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          1,026.8
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          304.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <b>Cash and cash equivalents at end of period</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>837.7</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>138.0</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="4">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="10">
          <b>Allegheny Technologies Incorporated and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="10">
          <b>Selected Financial Data - Mill Products</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="10">
          <i>(Unaudited)</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="top" colspan="8">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="2">
          <b>Mar. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="2">
          <b>Dec. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="2">
          <b>Mar. 31</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="2">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="2">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="2">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Shipment Volume:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Flat Rolled Products (000's lbs.)
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          High value
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          122,769
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          117,918
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          113,023
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Standard
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          165,401
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          165,331
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          173,818
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Flat Rolled Products total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          288,170
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          283,249
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          286,841
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Average Selling Prices:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Flat Rolled Products (per lb.)
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          High value
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2.38
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2.39
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2.80
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Standard
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1.25
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1.17
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1.38
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Flat Rolled Products combined average
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1.73
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1.68
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1.94
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="13">
          <b>Allegheny Technologies Incorporated and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="13">
          <b>Computation of Basic and Diluted Earnings Per Share Attributable
          to ATI</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="13">
          <i>(Unaudited, in millions, except per share amounts)</i>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="top" colspan="10">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Mar. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>Dec. 31</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="2">
          <b>Mar. 31</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="2">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <b>Continuing operations:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Numerator for Basic net income (loss) per common share -
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income (loss) from continuing operations attributable to ATI
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (18.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (83.8
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          9.7
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Effect of dilutive securities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          4.25% Convertible Notes due 2014
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Numerator for Dilutive net income (loss) per common share -
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income (loss) from continuing operations attributable
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          to ATI after assumed conversions
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (18.1
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (83.8
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          9.7
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Denominator for Basic net income (loss) per common share -
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Weighted average shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          107.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          106.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          106.6
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Effect of dilutive securities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Share-based compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.5
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          4.25% Convertible Notes due 2014
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          Denominator for Diluted net income (loss) per common share -
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Adjusted weighted average assuming conversions
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          107.0
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          106.8
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          107.1
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Basic income (loss) from continuing operations attributable to ATI
            per common share
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.17</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.79</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>0.09</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Diluted income (loss) from continuing operations attributable to
            ATI per common share
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.17</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>(0.79</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>0.09</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="5">
          <b>Allegheny Technologies Incorporated and Subsidiaries</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Other Financial Information</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Managed Working Capital</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <i>(Unaudited - Dollars in millions)</i>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top" colspan="3">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top" colspan="3">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Accounts receivable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          557.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          528.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Inventory
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,408.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,322.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (518.2
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (471.8
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Subtotal
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,447.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,378.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Allowance for doubtful accounts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          5.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          5.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          LIFO reserve
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (20.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (29.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Inventory reserves
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          73.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          84.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Corporate and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Managed working capital of discontinued operations
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          4.1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          5.1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Managed working capital
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          1,515.0
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          1,446.5
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Annualized prior 2 months sales
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          4,259.9
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          3,675.0
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Managed working capital as a % of annualized sales
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          35.6
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          39.4
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            March 31, 2014 change in managed working capital
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          68.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          As part of managing the liquidity in our business, we focus on
          controlling managed working capital, which is defined as gross
          accounts receivable and gross inventories, less accounts payable. In
          measuring performance in controlling this managed working capital,
          we exclude the effects of LIFO and other inventory valuation
          reserves and reserves for uncollectible accounts receivable which,
          due to their nature, are managed separately.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="9">
          <b>Allegheny Technologies Incorporated and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="9">
          <b>Other Financial Information</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="9">
          <b>Debt to Capital</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="9">
          <i>(Unaudited - Dollars in millions)</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top" colspan="3">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total debt
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,946.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,947.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Less: Cash
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (837.7
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          (1,026.8
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net debt
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,109.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          920.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net debt
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,109.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          920.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Total ATI stockholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2,866.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2,894.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net ATI capital
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,975.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,814.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <b>Net debt to ATI capital</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>27.9</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>24.1</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total debt
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,946.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,947.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Total ATI stockholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2,866.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px" valign="bottom">
          2,894.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total ATI capital
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4,813.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4,841.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <b>Total debt to total ATI capital</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>40.4</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>40.2</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            In managing the overall capital structure of the Company, some of
            the measures that we focus on are net debt to net capitalization,
            which is the percentage of debt, net of cash that may be available
            to reduce borrowings, to the total invested and borrowed capital
            of ATI (excluding noncontrolling interest), and total debt to
            total ATI capitalization, which excludes cash balances.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Allegheny Technologies Incorporated<br>Patrick J. DeCourcy,
      412-395-3057<br>Michael K. Logan, 412-395-3057
    </p>
    <p>

    </p>
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</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
