Carpenter Enters into Supply Contract with Rolls-Royce

Carpenter Technology Corporation (NYSE: CRS) has finalized the completion of a formal supply agreement that will provide Rolls-Royce with advanced technology materials used in the manufacture of jet engine components. The materials will be used on current and future Rolls-Royce engine platforms, in applications including rings, blades, vanes, and airfoils. Demand for the material will be generated by Rolls-Royce in the UK and the US, and its global suppliers. Materials in support of this program will be manufactured at Carpenter’s Reading, PA and Athens, AL specialty steelmaking facilities.

The five-year agreement runs through 2017 and is valued at approximately $75M.

“We are very excited about formalizing our new strategic relationship with Rolls-Royce,” said William A. Wulfsohn, President & CEO of Carpenter Technology. “It is our belief that this agreement, and future agreements, will serve the strategic interests of both companies.”

About Carpenter Technology Corporation

Carpenter Technology Corporation, based in Wyomissing, Pa., produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. Information about Carpenter can be found at www.cartech.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to risks, uncertainties and other factors that could cause actual results to differ from those projected, anticipated or implied. The most significant of these uncertainties are described in Carpenter's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the year ended June 30, 2012 and the quarterly report on Form 10-Q for the quarters ended September 30, 2012, December 31, 2012, March 31, 2013, and the exhibits attached to those filings. They also include, but are not limited to, the demand and use of Carpenter’s advanced technology materials on current and future Rolls-Royce engine platforms. Carpenter undertakes no obligation to update or revise any forward-looking statements.