The final cash purchase price was $690.3, net of cash acquired, after payment of the final working capital adjustment to Severstal
of $13.1 in the fourth quarter of 2014. In conjunction with the acquisition, AK Steel issued $430.0 of 7.625% Senior Notes due
October 2021 at a price of 99.325% of par to pay part of the purchase price and used a portion of the net proceeds from the
issuance of 40.25 million shares of AK Holding common stock at a price of $9.00 per share to pay the balance of the purchase
price. The Company used the additional proceeds from the issuance of AK Holding common stock to repay a portion of
outstanding borrowings under its asset-backed revolving credit facility (“Credit Facility”) and for general corporate purposes. For
the year ended December 31, 2014, the Company incurred acquisition costs of $8.1. Acquisition costs are primarily comprised of
transaction fees and direct costs, including legal, finance, consulting and other professional fees, and are included in selling and
administrative expenses. In addition, the Company incurred $12.6 of costs in the year ended December 31, 2014 for committed
bridge financing that the Company arranged in connection with the acquisition of Dearborn, but which was unused because of the
Company’s successful financing of the acquisition through the debt and common stock offerings discussed above. As a result,
these costs were expensed in 2014 and are included in other income (expense). Subsequent to the acquisition, the Company
incurred severance costs of $2.6 for certain employees of Dearborn, which are included in selling and administrative expenses for
the year ended December 31, 2014, and an income tax charge of $8.4 related to changes in the value of deferred tax assets resulting
from the acquisition