AGY Holding Corp. Appoints Chief Executive Officer and Chief Financial Officer

July 9th, 2013 by

AIKEN, SOUTH CAROLINA – (July 9, 2013) – AGY Holding Corp., a Delaware corporation
(“AGY”), and KAGY Holding Company, Inc., a Delaware corporation and the direct parent
company of AGY (“KAGY,” and together with AGY, the “Companies”), announced that,
effective July 9, 2013, Drew Walker has been named President & Chief Executive Officer of
each of the Companies. Since joining the Companies in 2005, Mr. Walker has served as Vice
President of Sales and Marketing and, most recently, as President. He will be able to draw on his
20 plus years of experience in the specialty materials sector to lead the organization with a true
understanding of our customers’ needs.

Over the past 18 months, Richard Jenkins of Alvarez & Marsal has served as our Interim Chief
Executive Officer. During this timeframe, we have made significant progress improving our
operating platform, creating better coordination between production planning and our customers’
expectations and increasing the focus on quality in our manufacturing processes. In connection
with his departure, Mr. Jenkins commented, “I enjoyed my time at AGY and was continually
impressed with the dedication and quality of the entire AGY management team.” We are
thankful for the energy and leadership provided by Mr. Jenkins and wish him well in his future

Also effective July 9, 2013, Jay Ferguson has been named Chief Financial Officer of each of the
Companies on a permanent basis. He has been serving as our Interim Chief Financial Officer for
the past 14 months. Mr. Ferguson has over 30 years of experience, including 20 years with
General Electric and 9 years serving various portfolio companies of private-equity-owned

The past 18 months have been busy ones for us and we are thrilled with the outcome. We have
improved operations, installed a strong and energized management team and significantly
reduced our debt levels. As a result, we believe that are well positioned to further develop new
products, grow our business and pursue our strategy to be a world-class provider of advanced

In this regard, Mr. Walker added, “As I mentioned last week, our restructuring coupled with the
establishment of our permanent management team marks the rebirth of a 50-year-old American
manufacturing business with a globally recognized brand. We make our customers’ products
lighter, faster and stronger, and the restructuring creates a strong platform for growth in our key
Aerospace and Defense, Specialty Electronics and Industrial markets.”