Operating Companies

AEROJET ROCKETDYNE HOLDINGS, INC.

(NYSE: AJRD)

5.57% owned*

Aerojet Rocketdyne Holdings, Inc. is a manufacturer of aerospace and defense systems, and also has a real estate business, the activities of which include the entitlement, sale, and leasing of its real estate assets.

*as of September 30, 2017

API Group

(NYSE: SPLP)

91.2% owned*

API Group is an indirect subsidiary of Steel Partners Holdings L.P. a global diversified conglomerate which, through its subsidiaries, engages in industrial products, packaging, energy, supply chain management, logistics, banking, food products and services, sports, training, education, and the entertainment and lifestyle businesses.

*as of September 30, 2017

Aviat

12.6% owned*

Aviat is the trusted expert in microwave networking. Better solutions from experts you can trust, Aviat enables the highest performing networks, simplest operations, and best customer experiences.

*as of September 30, 2017

FastenMaster

100% owned*

FastenMaster is a division of OMG, Inc. headquartered in Agawam, Massachusetts. Our company was founded in 1981.

From developing new products to innovating new building practices, the voice of the PRO contractor remains our guiding force.

*as of October 12, 2017

HandyTube Corp

100% owned*

HandyTube Corporation, a Handy & Harman Ltd. Company, is a premium manufacturer of Xtreme Length™ seamless stainless steel coil tubing for diverse industries worldwide.

*as of October 12, 2017

iGo

45.0% owned*

iGo has been a provider of mobile accessories since 1995, offering premium power management solutions and accessories for laptop computers and electronic mobile devices that enhance the possibility of living life fully charged.

*as of September 30, 2017

IndianaTube Corp

100% owned*

Indiana Tube Corporation (ITC) began manufacturing low carbon mechanical grade welded steel tubing in 1974. Over the 40 years of service ITC has expanded capabilities and product offerings to meet the continuous needs of our customers and the markets we serve.

*as of October 12, 2017

JPS Composite Materials Corp

100% owned*

JPS Composite Materials is an ISO-9001 certified US based weaver of composite reinforcement and ballistic protection fabrics. JPS Composite Materials includes the legacy Clark Schwebel and JPS Industrial Fabrics/JPS Glass operations.

*as of October 12, 2017

Kasco SharpTech

100% owned*

KASCO has global manufacturing and warehouse operations in St. Louis, USA; Matamoros, Mexico; Wales, United Kingdom, and Pansdorf, Germany. KASCO has sales offices, warehouse locations, and employees in the USA, Canada, Mexico, UK, Germany, and China.

*as of October 12, 2017

Lucas-Milhaupt, Inc

100% owned*

Lucas Milhaupt has continued to grow globally as it has added companies to the Lucas Milhaupt brand.

*as of October 12, 2017

MODUSLINK GLOBAL SOLUTIONS, INC.

(NASDAQ GS: MLNK)

32.9% owned*

ModusLink Global Solutions Inc., through its wholly owned subsidiary, ModusLink Corporation, is a supplier of supply chain and logistics services aimed at improving clients’ revenue, cost, sustainability and customer experience objectives

*as of September 30, 2017

MTE Corp

100% owned*

MTE Corporation was formed in 1982 by bringing together Milwaukee Transformer Co., Transformer Design Inc. and Milwaukee Electronics Corp. – companies that specialized in different fields of magnetics and transformer designs and were long established in their respective fields.

*as of October 12, 2017

OMG EdgeSystems

100% owned*

OMG EdgeSystems offers the industry’s widest selection of Factory Mutual-approved edge metal systems for low sloped roofs. From fascia, coping and water control, to custom designed edge systems, contact OMG for all of your edge needs.

*as of October 12, 2017

OMG Roofing Products

100% owned*

OMG Roofing Products is a leading global manufacturer and supplier of value-added components for the commercial roofing industry. The company specializes in insulation and membrane-fastening systems, roof insulation adhesives, retrofit roof drains, pipe supports as well as engineered edge metal systems and innovative productivity tools for low slope roofing applications.

*as of October 12, 2017

School Specialty

9.9% owned*

School Specialty is a leading distributor of supplies, furniture, technology products, supplemental learning products (“instructional solutions”) and curriculum solutions to the education marketplace.

*as of September 30, 2017

SL-MTI

100% owned*

MTI is a manufacturer and developer of precision, high performance electric motors, drives, and controllers in addition to precision winding components. We serve both the aerospace and commercial markets.

*as of October 12, 2017

SL Power Electronics

100% owned*

SL Power Electronics is a global leader of differentiated power conversion solutions. SL Power offers Original Equipment Manufacturers (OEM’s) turnkey power conversion solutions for their most mission critical applications, ranging from standard products to modified standard and completely custom solutions.

*as of October 12, 2017

Steel Sports

(SXCL: OTC)

100% owned*

Founded in 2011, Steel Sports Inc., a subsidiary of Steel Excel Inc. (SXCL: OTC), is dedicated to acquiring, building, and strengthening a network of branded participatory and experience-based businesses engaged in sports, training, education, entertainment and consumer lifestyle.

*as of February 7, 2017

STEEL EXCEL, INC.

(OTC: SXCL.PK)

100% owned*

Steel Excel, through its two business segments, Steel Sports Inc. and Steel Energy Ltd., is committed to acquiring, strengthening and growing profitable businesses. Steel Energy provides well servicing, workover and other services to the oil and gas industry. Steel Sports is a network of branded participatory and experience-based businesses engaged in sports, training, entertainment and consumer lifestyle.

*as of February 7, 2017

WEBBANK

91.2% owned*

WebBank is headquartered in Salt Lake City, Utah, and is an FDIC-insured, state-chartered industrial bank that provides customized consumer and commercial financing solutions on a nationwide basis. WebBank is a leading provider of closed-end and revolving private-label and bank card financing programs.

*as of September 30, 2017

Acquisition Interests

Steel Partners and its affiliates comprise a global diversified portfolio of product and service businesses. Together, our businesses generate over $3.4B in revenue, and employ over 13,300 employees in 18 countries. We are interested in growing our portfolio of publicly-traded and private companies through acquisition. We prefer profitable acquisition targets, but we will consider unprofitable bolt-on targets.