Bull Moose Tube Announces Completion Of Capital Investment Upgrades At Its Two Largest Facilities

CHESTERFIELD, MO. January 12, 2021 —– Bull Moose Tube Company (“BMT”), a Caparo Bull Moose
subsidiary, today announced completion of major capital investment projects at its two largest tubular
facilities in Elkhart, IN and Trenton, GA. The multi-million dollar investments in new high-performance
equipment will optimize both facilities’ operational capabilities.

The projects involved leading edge upgrades to the drive and automation control system, installation of
a new induction unit, upgrades to the sizing section of the mill with state-of-the-art quality assurance
capabilities, and upgraded cutoff quality and length accuracy. The upgrades will enhance product
quality, increase production efficiency and reliability, and add operational flexibility.

Tom Modrowski, President and CEO of BMT, stated: “We are on a constant quest to differentiate
ourselves in the market and put ourselves in the best position to respond to our customers’ ever-
changing needs. The investments in our facilities are part of our strategy to build a sustainable portfolio
of assets across the Company’s operational footprint. It reflects our enduring commitment to
innovation, high quality, and superior customer service.” Of the capital project Rt. Hon. The Lord Swraj
Paul, Caparo Chairman, stated: “Our continued focused investments, capable leadership and skilled
workforce is a winning combination that will solidify our position as a leading manufacturer and supplier
of premier pipe & tube products in North America.”

About Bull Moose Tube

Based in Chesterfield, Missouri the company is part of the Caparo Bull Moose group. The company
operates from seven plants – six in the USA (Chicago Heights, IL; Elkhart, IN; Gerald, MO; Masury, OH;
Trenton, GA; and Casa Grande, AZ) and one in Canada (Burlington, Ontario). Today the company offers
one of the largest ranges of welded steel tubing in North America. Typical applications for Bull Moose
Tube include construction, transportation, fire protection, lawn and garden equipment, plus many other
engineering and household products. For more information visit: www.bullmoosetube.com .

About Caparo

Caparo is a diversified global association of businesses, with interests predominantly in the design,
manufacture, marketing and distribution of value-added steel and niche engineering products. Caparo’s
wider activities encompass hotels, property, power generation, logistics, financial services and
investment.

Owned by the Paul family, Caparo was founded in 1968 by Indian born British Industrialist, Rt. Hon. The
Lord Paul of Marylebone, PC, who remains Chairman. Today, Caparo operates internationally from over
forty sites, serving customers globally, primarily from operations based in the UK, North America, India,
and the Middle East. For more information visit: www.caparo.com .