What changed in this filing

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Item 1. Business

2023-02-24 compared with 2022-02-24 · 203 added, 202 removed, 375 unchanged (52% of the section changed)

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(“SunCoke Energy,” “SunCoke,” “Company,” “we,” “our” and “us”) is the largest independent producer of high-quality coke in the Americas, as measured by tons of coke produced each year, and has more than 60 years of coke production experience.

Coke is a principal raw material in the blast furnace steelmaking process and is produced by heating metallurgical coal in a refractory oven, which releases certain volatile components from the coal, thus transforming the coal into coke.

We also own and operate a logistics business that provides handling and/or mixing services to steel, coke (including some of our domestic cokemaking facilities), electric utility, coal producing and other manufacturing based customers.

Incorporated in Delaware since 2010 and headquartered in Lisle, Illinois, we became a publicly-traded company in 2011 and our stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “SXC.”

Cokemaking Operations

We are a technological leader in cokemaking.

We have designed, developed, built, own and operate five cokemaking facilities in the United States (“U.S.”) with collective nameplate capacity to produce approximately 4.2 million tons of blast furnace coke per year.

Additionally, we have designed and operate one cokemaking facility in Brazil under licensing and operating agreements on behalf of ArcelorMittal Brasil S.A.

Coke is produced by heating metallurgical coal in a refractory oven, which releases certain volatile components from the coal, thus transforming the coal into coke.

Our coke is primarily used as a principal raw material in the blast furnace steelmaking process as well as in the foundry production of casted iron, and the majority of our sales are derived from blast furnace coke sales made under long-term, take-or-pay agreements.

We also export coke to international customers seeking high-quality product for their blast furnaces.

We have designed, developed and built, and we currently own and operate five cokemaking facilities in the United States (“U.S.”) with collective nameplate capacity to produce approximately 4.2 million tons of blast furnace coke per year.

Additionally, we designed and currently operate one cokemaking facility in Brazil under licensing and operating agreements on behalf of ArcelorMittal Brasil S.A.

("ArcelorMittal Brazil”), which has approximately 1.7 million tons of annual cokemaking capacity.

Our core business model is predicated on providing steelmakers an alternative to investing capital in their own captive coke production facilities.

We direct our marketing efforts principally towards steelmaking customers that require coke for use in their blast furnaces.

Our cokemaking ovens utilize efficient, modern heat recovery technology designed to combust the coal’s volatile components liberated during the cokemaking process and use the resulting heat to create steam or electricity for sale.

This differs from by-product cokemaking, which repurposes the coal’s liberated volatile components for other uses.

We believe our advanced heat recovery cokemaking process has numerous advantages over by-product cokemaking, including producing higher quality coke, using waste heat to generate derivative energy for resale and reducing the environmental impact.

We also own and operate a logistics business that provides export and domestic material handling and/or mixing services to steel, coke (including some of our domestic cokemaking facilities), electric utility, coal producing and other manufacturing based customers.

Our logistics terminals, which are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports, have the collective capacity to mix and/or transload more than 40 million tons of product annually and have storage capacity of approximately 3 million tons.

We report our business results through three segments:

Domestic Coke, Brazil Coke and Logistics.

Domestic Coke

Our Domestic Coke segment consists of cokemaking facilities and heat recovery operations at our Jewell, Indiana Harbor, Haverhill, Granite City and Middletown plants.

Our core business model is predicated on providing steelmakers an alternative to investing capital in their own captive coke production facilities and to serve as the long-term supplier of high quality coke by investing in our facilities with leading technology, as well as safety and environmental performance.

Our cokemaking ovens utilize efficient, modern heat recovery technology designed to combust the coal’s volatile components during the cokemaking process and use the hot flue gas to generate steam and electricity for sale through steam generation facilities or cogeneration plants, respectively.

This differs from by-product cokemaking, which repurposes the coal’s volatile components for other uses.

Steam generated is generally sold to customers pursuant to steam supply and purchase agreements, and electricity generated is generally sold into the regional power market or to customers pursuant to energy sales agreements.

The Clean Air Act Amendments of 1990 specifically directed the U.S.

Environmental Protection Agency (“EPA”) to evaluate our heat recovery coke oven technology as a basis for establishing Maximum Achievable Control Technology (“MACT”) standards for new cokemaking facilities.

Environmental Protection Agency (“EPA”) to evaluate our heat recovery coke oven technolog y as a basis for establishing Maximum Achievable Control Technology (“MACT”) standards for new cokemaking facilities.

In addition, each of the four cokemaking facilities that we have built since 1990 has either met or exceeded the applicable Best Available Control Technology (“BACT”), or Lowest Achievable Emission Rate (“LAER”) standards, as applicable, set forth by the EPA for cokemaking facilities at that time.

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in over 30 years and are the only North American coke producer that utilizes heat recovery technology in the cokemaking process.

Our Middletown facility and the second phase of our Haverhill facility, or Haverhill II, have cogeneration plants that use the hot flue gas created by the cokemaking process to generate electricity, which either is sold into the regional power market or to Cleveland-Cliffs Steel Holding Corporation pursuant to energy sales agreements.

Our Granite City facility and the first phase of our Haverhill facility, or Haverhill I, have steam generation facilities, which use hot flue gas from the cokemaking process to produce steam for sale to customers pursuant to steam supply and purchase agreements.

Granite City sells steam to United States Steel Corporation and Haverhill I provides steam, at minimal cost, to Altivia Petrochemicals, LLC.

The following table sets forth information about our cokemaking facilities:

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(1) Cokemaking nameplate capacity represents stated capacity for production of blast furnace coke equivalent production.

The production of foundry coke tons does not replace blast furnace coke tons on a ton for ton basis, as foundry coke requires longer coking time.

(2) The Middletown coke sales agreement provides for coke sales on a “run of oven” basis, which includes both blast furnace coke and small coke.

Middletown nameplate capacity on a “run of oven” basis is 578 thousand tons per year.

(3) Contracted customers include Cleveland-Cliffs Steel Holding Corporation and Cleveland-Cliffs Steel LLC, both subsidiaries of Cleveland-Cliffs Inc.

(3) Customers under long-term, take-or-pay agreements include Cleveland-Cliffs Steel Holding Corporation and Cleveland-Cliffs Steel LLC, both subsidiaries of Cleveland-Cliffs Inc.

and collectively referred to as "Cliffs Steel," United States Steel Corporation ("U.S.

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("Algoma Steel").

(4) Under the long-term, take-or-pay agreement with Cliffs Steel, Jewell and Haverhill I supplied a combined 800 thousand tons in 2021 and will supply a combined 400 thousand tons annually for 2022 through 2025.

Additionally, the long-term, take-pay-agreement between Haverhill I and Algoma Steel provides for coke supply to shift to Jewell.

Long-term, Take-or-Pay Agreements

Our coke sales are largely made pursuant to long-term, take-or-pay agreements, primarily with two customers in the U.S.:

Cliffs Steel and U.S.

Additionally, SunCoke entered into a five year take-or-pay agreement with Algoma Steel beginning in 2022, with average sales of approximately 150 thousand tons of blast furnace coke per year, further diversifying our customer base.

(4) Under the long-term, take-or-pay agreement with Cliffs Steel, Jewell and Haverhill I supplies a combined 400 thousand tons annually for 2022 through 2025.

Additionally, the long-term, take-or-pay agreement between Haverhill I and Algoma Steel provides for coke supply to shift to Jewell.

Tonnage produced in excess of those contracted under our long-term, take-or-pay agreements at Jewell and Haverhill I is generally sold into the foundry and export coke markets.

Blast Furnace Coke

Our blast furnace coke sales are primarily made pursuant to long-term, take-or-pay agreements with the customers noted in the table above.

These agreements require us to produce the contracted volumes of coke and require our customers to purchase such volumes of coke up to a specified tonnage or pay the contract price for any tonnage they elect not to take.

As a result, our ability to produce the contracted coke volume is a key determinant of our profitability.

Our domestic capacity is largely consumed by these long-term agreements.

Accordingly, spot prices for coke have a limited effect on our revenues.

Our domestic capacity is largely consumed by these long-term agreements, therefore, we have limited exposure to the domestic spot prices for blast furnace coke.

Our long-term, take-or-pay coke sales agreements contain pass-through provisions for costs we incur in the cokemaking process, including coal and coal procurement costs, subject to meeting contractual coal-to-coke yields, operating and maintenance expenses, costs related to the transportation of coke to our customers, taxes (other than income taxes) and costs associated with changes in regulation.

When targeted coal-to-coke yields are achieved, the price of coal is not a significant determining factor in the profitability of these facilities, although it does affect our revenue and cost of sales for these facilities in approximately equal amounts.

these facilities in approximately equal amounts.

However, to the extent that the actual coal-to-coke yields are less than the contractual standard, we are responsible for the cost of the excess coal used in the cokemaking process.

Conversely, to the

extent our actual coal-to-coke yields are higher than the contractual standard, we realize gains.

Conversely, to the extent our actual coal-to-coke yields are higher than the contractual standard, we realize gains.

As coal prices increase, the benefits associated with favorable coal-to-coke yields also increase.

These features of our coke sales agreements reduce our exposure to variability in coal price changes and inflationary costs over the remaining terms of these agreements.

The coal component of the Jewell coke price has historically been fixed annually for each calendar year based on the weighted-average contract price of third-party coal purchases at our Haverhill facility applicable to Cliffs Steel coke sales.

Beginning in 2022, Jewell coal purchases will be passed through at actual cost rather than at the price of Haverhill's coal, consistent with our other long-term, take-or-pay agreements.

Our coke prices include both an operating cost component and a fixed fee component.

Operating costs under three of our coke sales agreements are fixed subject to an annual adjustment based on an inflation index.

These features of our long-term, take-or-pay coke sales agreements reduce our exposure to variability in coal price changes and inflationary costs over the remaining terms of these agreements.

Coke prices in our long-term, take-or-pay agreements also include both an operating cost component and a fixed fee component.

During 2022, operating costs under three of our coke sales agreements are fixed subject to an annual adjustment based on an inflation index.

Under our other four coke sales agreements, operating costs are passed through to the respective customers subject to an annually negotiated budget, in some cases subject to a cap annually adjusted for inflation, and we share any difference in costs from the budgeted amounts with our customers.

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The actual return on invested capital at any facility is based on the fixed fee per ton and favorable or unfavorable performance on pass-through cost items.

Foundry and Export Coke

In order to further diversify our business and customer base, we have entered the foundry coke market.

We also sell blast furnace coke into the export coke market, utilizing capacity in excess of that reserved for our long-term, take-or-pay agreements.

Export coke sales are generally made on a spot basis at the current market price and do not contain the same provisions as our long-term, take-or-pay agreements discussed above.

While the revenues in our Domestic Coke segment are primarily tied to blast furnace coke sales made under long-term, take-or-pay agreements, we also produce and sell foundry coke out of our Jewell cokemaking facility.

Foundry coke is a high-quality grade of coke that is used at foundries to melt iron and various metals in cupola furnaces, which is further processed via casting or molding into products used in various industries such as construction, transportation and industrial products.

We began producing and selling foundry coke on a commercial scale in 2021.

We also began selling blast furnace coke into the export coke market in 2021, utilizing capacity in excess of that reserved for our long-term, take-or-pay agreements.

Foundry coke sales are generally made under annual agreements with our customers for an agreed upon price and do not contain take-or-pay volume commitments.

Export coke sales are generally made on a spot basis at the current market price.

Market Discussion

steel production utilization rates improved throughout 2021, benefiting our steelmaking customers.

Utilization increased from 75 percent in January 2021 to 82 percent in December 2021.

Additionally, an increase in global steel demand along with global coke trade imbalance has benefited our export coke sales.

Brazil Operations

Our Brazil cokemaking operations are located in Vitória, Brazil, where we operate our ArcelorMittal Brazil cokemaking facility for a Brazilian subsidiary of ArcelorMittal S.A.

Revenues from our Brazilian cokemaking facility are derived from licensing and operating fees, which include a fixed annual licensing fee, a licensing fee based upon the level of production required by our customer and full pass-through of the operating costs of the facility.

Logistics Operations

Our logistics business consists of Convent Marine Terminal ("CMT"), Kanawha River Terminal ("KRT"), Lake Terminal and Dismal River Terminal (“DRT”), and has the collective capacity to mix and/or transload more than 40 million tons of coal and other aggregates annually and has storage capacity of more than 3 million tons.

Our Brazil segment consists of our cokemaking operations located in Vitória, Brazil, where we operate the ArcelorMittal Brazil cokemaking facility for a Brazilian subsidiary of ArcelorMittal S.A.

Revenues from the Brazilian cokemaking facility are derived from licensing and operating fees, which are based upon the level of production required by our customer and full pass-through of the operating costs of the facility.

Our Logistics segment consists of Convent Marine Terminal ("CMT"), Kanawha River Terminal ("KRT"), Lake Terminal and Dismal River Terminal (“DRT”).

Our terminals act as intermediaries between our customers and end users by providing transloading and mixing services.

Materials are transported in numerous ways, including rail, truck, barge or ship.

We do not take possession of materials handled but instead derive our revenues by providing handling and/or mixing services to our customers on a per ton basis.

CMT is located in Convent, Louisiana, with strategic access to seaborne markets for coal and other industrial materials.

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Lake Terminal and DRT provide coal handling and mixing services to SunCoke's Indiana Harbor and Jewell cokemaking operations, respectively.

Our terminals act as intermediaries between our customers and end users by providing transloading and mixing services.

Materials are transported in numerous ways, including rail, truck, barge or ship.

We do not take possession of materials handled but instead derive our revenues by providing handling and/or mixing services to our customers on a per ton

Revenues are recognized when services are provided as defined by customer contracts.

Logistics services provided to our domestic cokemaking facilities are provided under contracts with terms equivalent to those of arm's-length transactions.

Market Discussion and Competition

The majority of our current production from our cokemaking business is committed under long-term, take-or-pay agreements.

As a result, competition mainly affects our ability to obtain new contracts supporting development of additional cokemaking capacity, including foundry coke, re-contracting existing facilities, as well as the sale of coke in the export market.

We direct our marketing efforts principally towards these areas.

The cokemaking market is highly competitive.

Competitors include merchant coke producers as well as the cokemaking facilities owned and operated by blast furnace steel companies.

The principal competitive factors affecting our cokemaking business include coke quality and price, reliability of supply, proximity to market, access to metallurgical coals and environmental performance.

Most of the world’s coke production capacity is owned by blast furnace steel companies.

The international merchant coke market is largely supplied by Chinese, Colombian and Ukrainian producers, among others, but it can be challenging to maintain high quality coke in the export market, and when coupled with transportation costs, coke imports into the U.S.

are often not economical.

However, the supply of coke from international merchants does impact our ability to sell tons in excess of those contracted under out long-term, take-or-pay agreements into the coke export market.

We believe we are well-positioned to compete with other coke producers.

In recent years, our Domestic Coke segment has accounted for approximately 35 percent of the U.S.

blast furnace coke market capacity.

We are the only coke producer who has built new cokemaking facilities in the U.S.

in over 30 years, which will allow us to absorb additional market share from aging by-product coke batteries owned by other coke producers.

Additionally, our facilities and ovens were constructed using proven, industry-leading technology with many proprietary features allowing us to produce consistently higher quality coke than our competitors produce.

Our technology also allows us to produce heat that can be converted into steam or electrical power.

We monitor the development of competing technologies carefully.

In recent years, steelmakers have begun to explore alternatives to blast furnace technology that require less or alternatives to coke, such as electric arc furnaces.

We also monitor ferrous technologies, such as direct reduced iron production, as these could indirectly impact our blast furnace customers.

During the first half of 2022, the price of and demand for export coke out of the U.S.

increased as a result of the ongoing global coke trade imbalance, which was driven by a decrease in global coke supply and geopolitical events including the Russian invasion of Ukraine and the related sanctions imposed on Russia in 2022, benefiting our export coke sales.

During the second half of 2022, the export coke market declined as compared to the first half of the year due to economic uncertainty, inflation, volatility in commodity pricing and lower Chinese coke prices, resulting in a decrease in price of global export coke.

Our principal competitors of CMT are located on the U.S.

Gulf Coast or U.S.

CMT is one of the largest export terminals on the U.S.

Gulf Coast and provides strategic access to seaborne markets for coal and other bulk materials.

Additionally, CMT is the largest bulk material terminal in the lower U.S.

with direct rail access on the Canadian National Railway.

In 2022, CMT accounted for approximately 42.5 percent of U.S.

thermal coal exports from the U.S.

Gulf Coast and approximately 19.5 percent of total U.S.

thermal coal exports.

CMT has a state-of-the-art ship loader, the largest of its kind in the world.

We believe this ship loader has the fastest loading rate available in the Gulf Region, which should allow our customers to benefit from lower shipping costs.

Additionally, CMT has a strategic alliance with a company that performs barge unloading services for the terminal, which provides CMT with the ability to transload and mix a significantly broader variety of materials.

Certain CMT customers are impacted by seaborne export market dynamics.

Fluctuations in the benchmark price for coal delivery into northwest Europe, as referenced in the Argus/McCloskey's Coal Price Index Report ("API2 index price"), as well as Newcastle index coal prices, as referenced in the Argus/McCloskey's Coal Price Index ("API6 index price"), which reflect low-ash coal prices shipped from Australia, contribute to our customers' decisions to place tons into the export market and thus impact transloading volumes through CMT.

Increased demand for energy in Europe and decreased global supply of natural gas has resulted in an increase in global demand for coal and an increase in API2 prices in 2021.

This resulted in a strong export coal market and higher export coal volumes through CMT as compared to 2020.

During 2022, high natural gas prices resulted in increased global demand for coal to meet European energy needs.

Additionally, geopolitical events discussed above further contributed to the increased coal demand in Europe.

The API2 index price remained high throughout 2022 as a result of this higher global demand for coal, which has benefited certain CMT customers and resulted in a positive impact on CMT's results in 2022.

Our KRT terminals serve two primary domestic markets, metallurgical coal trade and thermal coal trade.

Metallurgical markets are primarily impacted by steel prices and blast furnace operating levels whereas thermal markets are impacted by natural gas prices and electricity demand.

Our revenues in our cokemaking business are largely tied to long-term, take-or-pay agreements and as such, are not seasonal.

Our KRT competitors are generally located within 100 miles of our

KRT has fully automated and computer-controlled mixing capabilities that mix coal to within two percent accuracy of customer specifications.

KRT also has the ability to provide pad storage and has access to both CSX and Norfolk Southern rail lines as well as the Ohio River system.

Lake Terminal and DRT provide coal handling and/or mixing services to our Indiana Harbor and Jewell cokemaking facilities, respectively, and therefore, do not have any competitors.

Our revenues in our Domestic Coke segment are largely tied to long-term, take-or-pay agreements and as such, are not seasonal.

However, our cokemaking profitability is tied to coal-to-coke yields, which improve in drier weather.

Accordingly, the coal-to-coke yield component of our profitability tends to be more favorable in the third quarter.

Extreme weather may also challenge our operating costs and production in the winter months for our domestic coke business.

Extreme weather may also challenge our operating costs and production in the winter months for our Domestic Coke segment.

KRT service demand fluctuates due to changes in the domestic electricity markets.

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and worldwide, and we have been able to supply coal to our domestic cokemaking facilities without any significant disruption in coke production.

Each ton of coke produced at our facilities requires approximately 1.4 tons of metallurgical coal.

We purcha sed 6.2 million tons of metallurgical coal in 2021.

Metallurgical coal is generally purchased on an annual basis via one-year contracts with costs passed through to our customers in accordance with the applicable coke sales agreements.

Each ton of blast furnace coke produced at our facilities requires approximately 1.4 tons of metallurgical coal.

We purchased 6.0 million tons of metallurgical coal in 2022.

Metallurgical coal is generally purchased on an annual basis via one-year contracts with costs primarily passed through to our customers in accordance with the applicable long-term, take-or-pay coke sales agreements.

Occasionally, shortfalls in deliveries by metallurgical coal suppliers require us to procure supplemental coal volumes.

As with typical annual purchases, the cost of these supplemental purchases is also generally passed through to our customers.

In 2022, our metallurgical coal contracts are based on coke production requirements and do not contain a minimum annual purchase requirement.

Most metallurgical coal procurement decisions are made through a coal committee structure with customer participation.

The customer can generally exercise an overriding vote on most coal procurement decisions.

In 2023, our metallurgical coal contracts are generally based on coke production requirements.

Refer to our Management's Discussion and Analysis for further detail on our coal contractual obligations.

Transportation and Freight

For inbound transportation of metallurgical coal purchases, our facilities that access a single rail provider have long-term transportation agreements, and where necessary, coal-mixing agreements that run concurrently with the associated coke sales agreement for the facility.

At facilities with multiple transportation options, including rail and barge, we enter into short-term transportation contracts from year to year.

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Our research and development program seeks to improve existing and develop promising new cokemaking technologies, including new product development, and enhance our heat recovery processes.

Over the years, this program has

produced numerous patents related to our heat recovery coking design and operation, including patents for pollution control systems, oven pushing and charging mechanisms, oven flue gas control mechanisms and various others.

Over the years, this program has produced numerous patents related to our heat recovery coking design and operation, including patents for pollution control systems, oven pushing and charging mechanisms, oven flue gas control mechanisms and various others.

Additionally, we have continued to successfully utilize our existing coke ovens to produce foundry coke in addition to our primary product of blast furnace coke.

At Vitória, Brazil, where we operate one cokemaking facility on behalf of ArcelorMittal Brazil, we have intellectual property and licensing agreements in place for the entity’s use of our technology, under which we receive a per ton licensing fee as well as an annual licensing fee.

The cokemaking business is highly competitive.

Most of the world’s coke production capacity is owned by blast furnace steel companies utilizing by-product coke oven technology.

The international merchant coke market is largely supplied by Chinese, Colombian and Ukrainian producers, among others, though it can be more challenging to maintain high quality coke in the export market, and when coupled with transportation costs, coke imports into the U.S.

are often not economical.

Our oven design and heat recovery technology play a role in all of these factors.

Competitors include merchant coke producers as well as the cokemaking facilities owned and operated by blast furnace steel companies.

In the past, there have been technologies which have sought to produce carbonaceous substitutes for coke in the blast furnace.

While none have proven commercially viable thus far, we monitor the development of competing technologies carefully.

We also monitor ferrous technologies, such as direct reduced iron production, as these could indirectly impact our blast furnace customers.

We believe we are well-positioned to compete with other coke producers.

Our Domestic Coke segment accounts for approximately 34 percent of the U.S.

blast furnace coke market capacity.

The majority of our current production from our cokemaking business is committed under long-term, take-or-pay agreements.

As a result, competition mainly affects our ability to obtain new contracts supporting development of additional cokemaking capacity, re-contracting existing facilities, as well as the sale of coke in the export market.

Our facilities were constructed using proven, industry-leading technology with many proprietary features allowing us to produce consistently higher quality coke than our competitors produce.

Additionally, our technology allows us to produce heat that can be converted into steam or electrical power.

The principal competitors of CMT are located on the U.S.

Gulf Coast or U.S.

CMT is one of the largest export terminals on the U.S.

Gulf Coast and provides strategic access to seaborne markets for coal and other bulk materials.

Additionally, CMT is the largest bulk material terminal in the lower U.S.

with direct rail access on the Canadian National Railway.

In 2021, CMT accounted for approximately 59 percent of U.S.

thermal coal exports from the U.S.

Gulf Coast and approxi mately 16 percent of total U.S.

thermal coal exports.

CMT has a state-of-the-art ship loader, the largest of its kind in the world.

We believe this ship loader has the fastest loading rate available in the Gulf Region, which should allow our customers to benefit from lower shipping costs.

Our KRT competitors are generally located within 100 miles of our operations.

KRT has fully automated and computer-controlled mixing capabilities that mix coal to within two percent accuracy of customer specifications.

KRT also has the ability to provide pad storage and has access to both CSX and Norfolk Southern rail lines as well as the Ohio River system.

Lake Terminal and DRT provide coal handling and/or mixing services to our Indiana Harbor and Jewell cokemaking facilities, respectively, and therefore, do not have any competitors.

Human Capital Management

Each employee at SunCoke is part of our collaborative and complimentary team.

We are committed to maintaining an inclusive workplace that brings out the best in all of us.

We respect all employees for their unique expertise and welcome the ideas they bring from their individual experience, education and training.

We continually strive to make our operations more efficient, while creating a respectful work environment for each team member.

Company leadership and our Board of

Directors are actively involved in overseeing the Company’s human capital management programs.

Our Chief Legal Officer & Chief Human Resources Officer, in partnership with local Human Resources and General Managers, sponsors the development and oversight of all human capital programs in the organization including:

(i) culture, (ii) workforce composition, recruitment and our commitment to diversity, equity and inclusion, (iii) workforce stability, (iv) employee development and training, (v) benefits, (vi) talent management and total compensation, (vii) safety, and (viii) ethics and compliance.

Our human capital strategy is focused on attracting, developing and retaining diverse talent.

At SunCoke we foster an inclusive work environment where our employees are respected, trusted and feel empowered to provide value as individuals and as a collaborative team.

Our employees offer a fresh perspective on SunCoke operations.

We welcome their ideas on process improvement and value each employee’s contribution across the business.

Company leadership and our Board of Directors are actively involved in overseeing the Company’s human capital management programs.

The leadership of our Human Resources department, in partnership with local Human Resources and General Managers, as well as our Legal department, including our Chief Compliance Officer, sponsor the development and oversight of all human capital programs in the organization including:

(i) safety, (ii) workforce composition, recruitment and retention, (iii) culture and our commitment to diversity, equity and inclusion, (iv) workforce stability, (v) employee development and training, (vi) benefits, (vii) talent management and total compensation, and (viii) ethics and compliance.

Workforce Culture

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Additionally, approximately 3 percent of our domestic employees are represented by the International Union of Operating Engineers.

Labor agreements at KRT, Lake Terminal, and Indiana Harbor will expire on April 30, 2022, June 30, 2022, and September 1, 2022, respectively.

We will negotiate the renewal of these agreements in 2022 and do not anticipate any work stoppages.

As of December 31, 2022, we have 285 employees at the cokemaking facility in Vitória, Brazil, all of whom are represented by a union under a labor agreement .

During 2021, the labor agreement at our Vitória, Brazil facility was renewed for an additional year, and it expires on November 30, 2022.

We recognize that our commitment to advance a diverse, equitable and inclusive environment starts with how we put that vision into practice inside our company.

We incorporate diversity into recruiting, training, developing and retaining our employees.

We partner with reputable recruitment firms to fill key positions.

Through those partnerships, we have a commitment to fill our candidate slates with a diverse group of candidates.

SunCoke’s commitment to diversity recruiting in 2021 also included a partnership with Professional Diversity Network, which allows us to develop our talent pipeline directly from eight affinity networks.

Hiring managers then focus on ensuring a diverse pool of candidates are considered for job postings.

In 2021, we enhanced our diversity & inclusion training.

For frontline leaders and all SunCoke management, the training was conducted by an outside firm to further develop the ability to foster diversity and inclusion and create an environment where everyone feels valued and has the opportunity to succeed.

Through those partnerships, we have a commitment to fill our candidate slates with a diverse group of qualified candidates.

Hiring managers then focus on ensuring a qualified diverse pool of candidates are interviewed and considered for job openings.

In 2022, we required all frontline leaders and all SunCoke management to attend a diversity and inclusion training.

The training was conducted by an outside firm to further develop the ability to foster diversity and inclusion and create an environment where everyone feels valued and has the opportunity to succeed.

Approximately 9 percent of the Company's global workforce is female, and minorities represent approximately 17 percent of the Company's U.S.

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Workforce Stability & Leadership Experience

Our commitment to employee retention through our talent management, benefits, performance management and total compensation programs is shown through our low regrettable turnover rate of less than 1 percent in 2021.

Our commitment to employee retention thr ough our talent management, benefits, performance management and total compensation programs is shown through our low turnover rate of less than 1 percent in 2022.

The stability of our workforce is anchored by our experienced corporate leadership team along with our General Managers that lead the day-to-day operations at our facilities.

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SunCoke provides a robust training program that meets or exceeds all applicable regulatory requirements.

We also provide specialized trainings on an as-needed basis for current topics throughout the year.

In addition to the annual interactive video-based SunCoke Code of Business Conduct and Ethics training we provide to all employees, we also provide specialized trainings on an as-needed basis for current topics throughout the year.

Over the past several years, special training topics have included Active Shooter Preparedness, Harassment, Worker’s Compensation, Diversity and Inclusion, Conducting Effective Investigations, Retirement Planning, and Substance Abuse Awareness.

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The Personal Information & Privacy Policy is updated to remain consistent with data security best practices.

SunCoke utilizes a variety of information security training methods, including in-depth, periodic policy training, annual interactive video-based Code of Conduct training segments on data security best

practices, and periodic security awareness communications that remind employees to stay vigilant with respect to data security.

SunCoke utilizes a variety of information security training methods, including

training segments on data security best practices and periodic security awareness communications that remind employees to stay vigilant with respect to data security.

We believe in developing our employees both within their daily roles and to be ready for their next assignment at SunCoke.

Development occurs in the form of leadership training, stretch assignments, and on the job training.

For example, in 2021 SunCoke partnered with a global leadership consulting firm to certify Human Resources managers to implement frontline leader training programs.

The programs will focus on a number of areas that are essential for frontline leadership development, including training on high-quality decision making, communication, coaching, and improving workplace performance.

On an annual basis, we engage in succession management to ensure that development and training and development opportunities are identified for high performing talent, preparing potential successors for our most critical roles.

Of the 147 positions filled in 2021, 59 (40 percent) were filled from within the Company.

In many cases, we take a hands-on approach to training at SunCoke.

As we pursued entry into the foundry coke market, we primarily utilized intra-Company training of existing personnel to develop, implement, and execute this initiative.

Leadership had the opportunity to provide many insights on topics from producing foundry to engaging new customers, highlighting the ability of our workforce to adjust to changing demands and grow with the Company.

Development occurs in the form of leadership training, cross training, stretch assignments, and on the job training.

For example, in 2022, through partnership with a global leadership consulting firm, SunCoke Human Resources leaders delivered frontline leadership training courses to field new leaders and supervisors.

The courses focus on a number of areas that are essential for frontline leadership development, including training on high-quality decision making, communication, coaching, and improving workplace performance.

We pride ourselves on being a lean workforce that focuses on developing and promoting talent internally.

We offer comprehensive health, welfare and retirement benefits.

We engage in succession planning to ensure that development and training opportunities are identified for high performing talent, preparing potential successors for our most critical roles.

We offer comprehensive benefits to our employees and their families, including health care coverage, retirement benefits, life and disability insurance, competitive vacation and leave policies.

We also offer supplemental benefits programs designed to enhance the daily life and well-being of our employees, including:

weight-loss, benefits services price-transparency, retirement planning education and coaching, paid-time off (including for community service), tuition reimbursement, health management for chronic conditions, a 24/7 employee assistance program and Identity Theft Protection.

supplemental life insurance for all eligible family members, supplemental short-term disability, a legal services plan, a weight-loss program, an identity theft and device protection program, financial retirement planning education and coaching, paid-time off (including time for community service), tuition reimbursement, health management for chronic conditions, a 24/7 employee assistance program, and telemedicine.

Talent Management and Total Compensation

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Employees and their managers are accountable for the goals and must review their performance against the goals on an ongoing basis.

We provide employee base wages that are competitive and consistent with employee positions, skill levels, experience, and geographic location.

Additionally, we believe that individual performance and the results of the Company are directly linked to the payment of annual short-term incentives, which is why a significant portion of employee compensation is performance-based.

We provide employee base wages that are competitive and consistent with employees' positions, skill levels, experience, and geographic location.

We use an annual review process to evaluate employees' performance and assist in their development.

We believe that individual performance and the results of the Company are directly linked, which is why a significant portion of employee compensation is performance-based.

Our short-term incentives include both financial metrics as well as performance-based environmental and safety metrics.

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Our top priority has always been the safety and health of our employees, contractors and visitors.

With the onset of the COVID-19 pandemic, this became even more challenging as we worked to ensure workplace safety and health was maintained.

In response to the pandemic in 2020, we established an internal task force of subject matter experts who initiated enhanced health and safety measures across our facilities and enacted a work from home program for all qualifying personnel.

Each of our sites implemented screening procedures consistent with U.S.

Centers for Disease Control and Prevention ("CDC") recommendations such as screening questionnaires and temperature checks for employees, contractors and other service providers.

Additionally, to prevent workplace exposure to the virus, we adopted further protocols consistent with CDC, state and local guidance including mask wearing, social distancing, contact tracing and quarantine requirements.

Many of these protocols have evolved and continued throughout 2021 in accordance with regulations from federal, state and local government agencies and taking into consideration CDC guidelines and other public health authorities.

Safety is so important to SunCoke that we include safety in our core values and also incorporate safety as a metric in our short-term incentive program.

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• Continuous improvement – We are always focused on preventing safety incidents and Thinking Safe, Acting Safe and Being Safe.

Our target for Total Recordable Incident Rate ("TRIR") at SunCoke for 2021 was 0.8 company-wide, and at the end of the year, it was 0.76.

We improved our safety performance from 2020 and continue to perform well above industry standards, as detailed below.

Our target for Total Recordable Incident Rate ("TRIR") at SunCoke for 2022 w as 0.80 company-wide, which includes both employees and contractors.

We improved our safety performance in 2022 (0.69 TRIR).

Our excellent safety record is best understood in comparison to industry-wide safety performance.

According to the Bureau of Labor Statistics, the TRIR within our sector of Other Petroleum and Coal Products (Coke) Manufacturing was 3.1 for 2020.

For comparison, it was 2.1 for the Iron and Steel Mills sector.

Our year-over-year safety performance is consistently lower than average industry-wide rates, signaling fewer recordable incidents and demonstrating our strong commitment to safety.

In a year especially filled with external stressors and distractions, we successfully managed to keep our employees focused on safety and the job at hand.

Year Employee TRIR Contractor TRIR

2020 1.08 0.38

2021 0.77 0.75

According to the Bureau of Labor Statistics, the TRIR of Other Petroleum and Coal Products (Coke) Manufacturing was 4.3 for 2021 and 2.8 for the Iron and Steel Mills sector, based on the most recent data available.

Our year-over-year safety performance is consistently significantly lower than average industry-wide rates, demonstrating our strong commitment to safety.

Year Total TRIR

Ethics & Compliance

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All employees must complete annual training on our Code of Business Conduct and Ethics, which we review and update as needed.

The most recent updates occurred in 2021.

We educate all employees to avoid potential conflicts of interest.

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Guidance & Reporting Without Fear of Retaliation

All employees, officers and directors must report suspected policy violations of our Code of Business Conduct and Ethics to the Compliance Team, which consists of our Chief Compliance Officer and other leaders from the Human Resources and Legal Departments.

All employees, officers and directors must report suspected policy violations of our Code of Business Conduct and Ethics to the Compliance Team, which is led by our Chief Compliance Officer and includes representatives from our Human Resources and Legal departments.

They can do so through a variety of channels, including, but not limited to, directly reporting to a supervisor, providing email or verbal reports directly to the Compliance Team and using our confidential, third-party 24/7 reporting hotline or website.

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• Air Quality.

Our cokemaking facilities employ Maximum Achievable Control Technology (MACT) standards designed to limit emissions of certain hazardous air pollutants.

Our cokemaking facilities employ MACT standards designed to limit emissions of certain hazardous air pollutants.

Specific MACT standards apply to oven door leaks, charging, oven pressure, pushing and quenching.

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The status of an area may change over time as new NAAQS standards are adopted, resulting in an area changing from one status or classification to another.

In an attainment area, the facility must install air pollution control equipment or employ Best Achievable Control Technology (BACT).

In a non-attainment area, the facility must install air pollution control equipment or employ procedures that meet Lowest Achievable Emission Rate (LAER) standards.

In an attainment area, the facility must install air pollution control equipment or employ BACT.

In a non-attainment area, the facility must install air pollution control equipment or employ procedures that meet LAER standards.

LAER standards are the most stringent emission limitation achieved in practice by existing facilities.

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As a result of the same litigation, the status of the area where the Granite City facility is located was remanded to EPA, which finalized the area as nonattainment in January 2021.

In December 2020, the Ohio Environmental Protection Agency ("Ohio EPA") informed stakeholders in the Cincinnati and Cleveland nonattainment areas, including the Middletown facility, that the agency anticipates those areas will be reclassified as moderate nonattainment areas by the U.S.

EPA in late 2021.

However, on November 17, 2021, Ohio EPA released for public comment a draft request to the U.S.

EPA to redesignate the area where

the Middletown facility is located as being in attainment with the 2015 ozone NAAQS based on updated air monitoring data.

EPA denies the request for redesignation or does not approve the request before Ohio EPA promulgates new nonattainment area regulations, it is possible that the Middletown facility will be required to comply with those regulations.

On June 9, 2022, the U.S.

EPA redesignated the area where the Middletown facility is located as an attainment area for the 2015 ozone NAAQS based on a request for redesignation by the Ohio Environmental Protection Agency on December 21, 2021.

Nonattainment designations under the new standard and any future more stringent standard for ozone have two potential impacts:

(1) demonstrating compliance with the standard using dispersion modeling for permitting new facilities or significant new projects may be more difficult;

and (2) facilities operating in areas that are classified as moderate non-attainment areas may be required to install Reasonably Available Control Technology (“RACT”) or demonstrate that they already meet RACT standards.

While we are not able to determine the extent to which this new standard will impact our business at this time, it presents a potential risk of having an impact on our operations.

and (2) facilities operating in areas that are classified as moderate non-attainment areas may be required to install

Reasonably Available Control Technology (“RACT”) or demonstrate that they already meet RACT standards.

While we are not able to determine the extent to which the 2015 ozone standard will impact our business at this time, it presents a potential risk of having an impact on our operations.

• The EPA adopted a rule in 2010 requiring a new facility that is a major source of greenhouse gases (“GHGs”) to install equipment or employ BACT procedures.

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• Wastewater and Stormwater.

Our heat recovery cokemaking technology does not produce wastewater as is typically associated with by-product cokemaking.

Our heat recovery cokemaking technology does not discharge process wastewater as is typically associated with by-product cokemaking.

Our cokemaking facilities, in some cases, have non-process wastewater and/or stormwater discharge permits.

The primary solid waste product from our heat recovery cokemaking technology is calcium sulfate from flue gas desulfurization, which is generally taken to a solid waste landfill.

On the whole, our heat recovery cokemaking process does not generate substantial quantities of hazardous waste as is typically associated with by-product cokemaking.

The material from periodic cleaning of heat recovery steam generators has been disposed of off-site as hazardous waste.

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Endangered Species Act.

Endangered Species Act and certain counterpart state regulations are intended to protect species whose populations allow for categorization as either endangered or threatened.

Endangered Species Act of 1973 and certain counterpart state regulations are intended to protect species whose populations allow for categorization as either endangered or threatened.

With respect to permitting additional cokemaking facilities, protection of endangered or threatened species may have the effect of prohibiting, limiting the extent of or placing permitting conditions on soil removal, road building and other activities in areas containing the affected species.

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• Clean Air Act.

The Clean Air Act and similar state laws and regulations affect our cokemaking operations, primarily through permitting and/or emissions control requirements relating to criteria pollutants and MACT standards.

The Clean Air Act air emissions programs that may affect our operations, directly or indirectly, include, but are not limited to:

The Clean Air Act ("CAA") and similar state laws and regulations affect our cokemaking operations, primarily through permitting and/or emissions control requirements relating to criteria pollutants and MACT standards.

The CAA air emissions programs that may affect our operations, directly or indirectly, include, but are not limited to:

the Acid Rain Program;

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and New Source Review.

◦ The Clean Air Act requires, among other things, the regulation of hazardous air pollutants through the development and promulgation of various industry-specific MACT standards.

◦ The CAA requires, among other things, the regulation of hazardous air pollutants through the development and promulgation of various industry-specific MACT standards.

Our cokemaking facilities are subject to two categories of MACT standards.

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Testing was conducted by our cokemaking facilities in 2017.

EPA is required to finalize any changes to these MACT standards by December 26, 2022 pursuant to a settlement agreement with environmental groups.

EPA was required to finalize any changes to these MACT standards by December 26, 2022 pursuant to a settlement agreement with environmental groups.

However, in June 2022, EPA petitioned the court to extend the deadline, which the Court decided in November 2022 to extend to a May 23, 2024 deadline.

EPA issued a new information request to our cokemaking facilities and other companies in 2022 associated with this rulemaking.

While we are not able to determine the extent to which any new standards would impact our business at this time, it presents a potential risk of having an impact on our operations and costs.

◦ The Regional Haze program under the Clean Air Act requires that states submit State Implementation Plans that demonstrate reasonable progress towards achieving natural visibility conditions in Class I areas.

◦ The Regional Haze program under the CAA requires that states submit State Implementation Plans that demonstrate reasonable progress towards achieving natural visibility conditions in Class I areas.

On November 5, 2020, the Virginia Department of Environmental Quality (“VDEQ”) requested that the Jewell facility conduct an analysis of potential controls for SO2 under the Regional Haze program.

VDEQ is currently reviewing Jewell’s determination that no additional controls are feasible.

VDEQ is currently reviewing Jewell’s determination that the installation of new controls is not feasible and any new requirements should be limited to operating pollution controls already present at the facility.

While we are not able to determine the extent to which a different determination by VDEQ or EPA would impact our business at this time, it presents a potential risk of having an impact on our operations and costs at the Jewell facility.

◦ On April 6, 2022, EPA proposed a Federal Implementation Plan Addressing Regional Ozone Transport for the 2015 Ozone NAAQS, which includes requirements applicable to certain coke plant operations.

SunCoke submitted comments on the proposed rule requesting clarification that the rule does not apply to our facilities.

While we are not able to determine the extent to which a different determination by EPA would impact our business at this time, it presents a potential risk of having an impact on our operations and costs at certain of our facilities.

• Terminal Operations.

Our terminal operations located along waterways and the Gulf of Mexico are also governed by permitting requirements under the CWA and CAA.

Our terminal operations located along waterways and the Gulf of Mexico are also governed by permitting requirements under the CWA (as defined below) and CAA.

These terminals are subject to U.S.

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• Clean Water Act of 1972.

The Clean Water Act (“CWA”) may affect our operations by requiring water quality standards generally and through the National Pollutant Discharge Elimination System (“NPDES”).

The Clean Water Act of 1972 (“CWA”) may affect our operations by requiring water quality standards generally and through the National Pollutant Discharge Elimination System (“NPDES”) program.

Regular monitoring, reporting requirements and performance standards are requirements of NPDES permits that govern the discharge of pollutants into water.

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Currently there is little information as to what may constitute BACT for GHG in most industries.

Under this rule, certain modifications to our facilities could subject us to the additional permitting and other obligations relative to emissions of GHGs under the New Source Review/Prevention of Significant Deterioration ("NSR/PSD") and Title V programs of the Clean Air Act based on whether the facility triggered NSR/PSD because of emissions of another pollutant such as SO2, NOx, PM, ozone or lead.

◦ The EPA has engaged in a rulemaking to regulate GHG emissions from existing and new coal fired power plants, and we expect continued legal challenges to this rulemaking and any future rulemaking for other industries.

For instance, in August 2015, the EPA issued its final Clean Power Plan ("CPP") rules establishing carbon pollution standards for power plants.

In February 2016, the U.S.

Court granted a stay of the implementation of the CPP before the U.S.

Court of Appeals for the District of Columbia ("D.C.

Circuit") issued a decision on the rule.

In October 2017, the EPA proposed to repeal the CPP.

EPA then proposed the Affordable Clean Energy ("ACE") rule as a replacement for the CPP in August 2018, which it finalized in June 2019.

In 2020, various legal challenges to the ACE rule were filed, and in January 2021, the D.C.

Circuit vacated EPA’s repeal and replacement of the CPP with the ACE rule and remanded the rulemaking to the agency.

In October 2021, the U.S.

Supreme Court granted a petition for certiorari to review the D.C.

Circuit’s decision.

Currently, we do not anticipate these new or existing power plant GHG rules would apply directly to our facilities.

However, the impact current and future GHG-related legislation and regulations have on us will depend on a number of factors, including whether GHG sources in multiple sectors of the economy are regulated, whether an overall GHG emissions cap level is established, the degree to which GHG offsets are allowed, the allocation of emission allowances to specific sources, and actions by the states in implementing these requirements.

Any new GHG reduction laws on regulations that apply to us will likely require us to incur increased operating and capital costs and/or increased taxes on GHG emissions.

Under this rule, certain modifications to our facilities could subject us to the additional permitting and other obligations related to emissions of GHGs under the New Source Review/Prevention of Significant Deterioration ("NSR/PSD") and Title V programs of the CAA based on whether the facility triggered NSR/PSD because of emissions of another pollutant such as SO2, NOx, PM, ozone or lead.

◦ The EPA has engaged in rulemakings in recent years to regulate GHG emissions from existing and new coal fired power plants.

These various rules were vacated and/or determined to exceed EPA's authority by the U.S.

Court of Appeals for the District of Columbia and the United States Supreme

If EPA replaces these rules with a new rule that applies to our facilities, it may present a potential risk of having an impact on our operations and cost structure.

◦ The impact current and future GHG-related legislation and regulations have on us will depend on a number of factors, including whether GHG sources in multiple sectors of the economy are regulated, whether an overall GHG emissions cap level is established, the degree to which GHG offsets are allowed, the allocation of emission allowances to specific sources, and actions by the states in implementing these requirements.

Any new GHG reduction laws or regulations that apply to us will likely require us to incur increased operating and capital costs and/or increased taxes for GHG emissions.

We may not recover the costs related to compliance with regulatory requirements imposed on us from our customers due to limitations in our agreements.

The imposition of a carbon tax or similar regulation could materially and adversely affect our revenues.

Collectively, these requirements along with restrictions and requirements regarding the mining of all types of coal may reduce the volumes of coal that we manage and may ultimately adversely impact our revenues.

Collectively, these requirements along with restrictions and requirements regarding the mining of all types of coal may reduce the volumes of coal that we manage and may adversely impact our revenues.

◦ The Securities and Exchange Commission ("SEC") intends to finalize new climate rules that, among other matters, will likely require disclosure of certain climate change-related information.

We expect that our operations will be subject to this disclosure rule.

However, we cannot predict what such rules may require, the timing of such rules and how significantly they will affect the Company.

• Occupational Safety and Health ACT (OSH Act).

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Under these laws, U.S.

coal mine operator must pay federal black lung benefits and medical expenses to claimants who are current and former employees and last worked for the operator after July 1, 1973.

coal mine operators must pay federal black lung benefits and medical expenses to claimants who are current and former employees and last worked for the operator after July 1, 1973.

The Patient Protection and Affordable Care Act (“PPACA”), which was implemented in 2010, amended previous legislation and provides for the automatic extension of awarded lifetime benefits to surviving spouses and changes the legal criteria used to assess and award claims.

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Available Information

We make available free of charge on our website, www.suncoke.com, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to such reports as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the Securities and Exchange Commission ("SEC").

The SEC maintains an Internet site (www.sec.gov) that contains our electronically filed information.

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A copy of any of these documents will be provided without charge upon written request to Investor Relations, SunCoke Energy, Inc., 1011 Warrenville Road, Suite 600, Lisle, Illinois 60532.

The Company may also use its website as a channel of distribution of material company information.

Investors may visit www.suncoke.com to find more information.

However, the Company's website is expressly not incorporated by reference herein.

Information about our Executive Officers

Our executive officers and their ages as of February 24, 2023, were as follows:

Rippey 64 President and Chief Executive Officer

Gates 45 Senior Vice President, Chief Legal Officer and Chief Human Resources Officer

Rippey 65 Chief Executive Officer

Gates 46 President

Marinko 61 Senior Vice President and Chief Financial Officer

Michael Hardesty 60 Senior Vice President, Commercial Operations, Business Development, Terminals and International Coke

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Quanci 61 Vice President, Chief Technology Officer

Rippey was appointed as Chief Executive Officer, President and a director of SunCoke Energy, Inc., effective December 1, 2017.

Nigl 56 Vice President, Coke Operations

Since January 1, 2023.

Rippey has been Chief Executive Officer of SunCoke Energy, Inc., focusing on strategic objectives and growth initiatives for the company.

Prior to that, he was Chief Executive Officer and President since December 1, 2017.

He has been a director of SunCoke’s Board of Directors since December 2017.

At that time, he also was appointed as Chairman, Chief Executive Officer and President of SunCoke Energy Partners GP LLC, the general partner of SunCoke Energy Partners, L.P., our former sponsored master limited partnership.

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Prior to that, he successfully rose through progressively responsible financial, commercial and administrative leadership roles at ArcelorMittal USA and its predecessor companies:

(i) from 2005 to 2006, he was Executive Vice President, Sales and Marketing at Mittal Steel USA;

(ii) from 2000 to 2005, he was Executive Vice President and Chief Financial Officer at lspat Inland Inc.;

and (iii) from 1998 to 2000, he served as Vice President, Finance and Chief Financial Officer of Ispat Inland Inc.

He began his career with Inland Steel Company (a predecessor to ArcelorMittal USA) in 1984.

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Rippey’s previous board service also includes the National Association of Manufacturers and the American Iron & Steel Institute, where he was a past Chairman of the Board.

Gates was appointed Senior Vice President, Chief Legal Officer and Chief Human Resource Officer effective November 14, 2019.

Prior to that she was Senior Vice President, General Counsel and Chief Compliance Officer of SunCoke Energy, Inc.

since October 22, 2015.

Gates leads the Company’s environmental and sustainability function, including all Environmental, Social, and Governance matters.

Gates was elected President of SunCoke Energy, Inc., and was appointed as a director on SunCoke’s Board of Directors, effective January 1, 2023.

Prior to that, she was Senior Vice President, Chief Legal Officer and Chief Human Resource Officer since November 14, 2019.

In both of these roles Ms.

Gates led the Company’s environmental and sustainability function, including all Environmental, Social, and Governance matters.

Gates joined SunCoke in February 2013 as Senior Health, Environment and Safety Counsel.

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Gates has been practicing law for two decades, and began her legal career in private practice as a Partner at Beveridge & Diamond, P.C.

Gates served on the firm’s Management Committee, where she addressed budget, compensation, commercial, and other issues.

She served on the firm’s Management Committee, where she addressed budget, compensation, commercial, and other issues.

Gates also co-chaired the civil litigation section of the firm’s Litigation Practice Group.

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Gates served as a director of SunCoke Energy Partners GP LLC, the general partner of our former master limited partnership subsidiary SunCoke Energy Partners, L.P.

We believe that Ms.

Gates’ legal knowledge and skill, along with experience with SunCoke’s operations and Human Resources management, provides the Board of Directors with valuable expertise regarding senior level strategic planning and relevant legal matters, including those related to corporate governance, litigation, health, environment, safety, mergers, acquisitions, compliance and commercial matters.

Marinko was appointed as SunCoke Energy, Inc.’s Senior Vice President and Chief Financial Officer in March 2022.

Prior to joining SunCoke, Mr.

Marinko served as the Senior Vice President and Chief Financial Officer with Great Lakes Dredge and Dock Corporation (the largest dredging company within the United States).

Prior to joining Great Lakes Dredge & Dock Corporation, Mr.

Marinko was President of the Consumer Services division at TransUnion, LLC, a global provider of information and decision-processing services.

Michael Hardesty.

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Hardesty joined SunCoke Energy, Inc.

in 2011 as Senior Vice President, Sales and Commercial Operations, and has more than 30 years of experience in the mining industry.

in 2011 as Senior Vice President, Sales and Commercial Operations, and has more than 30 years of

experience in the mining industry.

Before joining SunCoke, Mr.

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Edeus joined the Company in 2013 and has assumed increasing responsibility within financial leadership roles, most recently serving as Assistant Controller since January 2016.

Edeus is a Certified Public Accountant and prior to coming to the Company, she worked in assurance services for BDO USA, LLP, the United States member firm of BDO International, a major global public accounting network, which she joined in 2007.

Edeus is a Certified Public Accountant and holds a Master’s degree in Accounting from Northern Illinois University.

Prior to coming to the Company, Ms.

Edeus worked in assurance services for BDO USA, LLP, the United States member firm of BDO International, a major global public accounting network, which she joined in 2007.

Shantanu Agrawal.

Agrawal was appointed Vice President, Finance and Treasurer of SunCoke Energy, Inc.

in July, 2021.

in July, 2021 and subsequently also assumed responsibility for the Procurement function in January, 2023.

Prior to that he was Director, Financial Performance & Analysis (“FP&A”) and Investor Relations.

Agrawal began his career with SunCoke as an FP&A Analyst in 2014.

He has been with SunCoke for more than seven years and has increasingly taken on more responsibilities and oversight over that period.

He has been with SunCoke for more than eight years and has increasingly taken on more responsibilities and oversight over that period.

Agrawal is an accomplished finance executive with a rich mix of finance, operations and strategic planning.

In his current roles, Mr.

Agrawal has led the Company’s finance function, including budgeting, forecasting, financial analysis, cash management and investor relations.

Agrawal has led the Company’s finance function, including budgeting, forecasting, financial analysis, cash management, investor relations and procurement.

Quanci joined SunCoke Energy, Inc.

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and international patents and patent applications.

Nigl was appointed as SunCoke Energy, Inc.’s Vice President, Coke Operations in January 2022.

Prior to that, he served as General Manager at the Company’s Indiana Harbor cokemaking operations, located in East Chicago, Indiana, from September 2015.

From March 2015 to September 2015, he was Operations Manager at the Indiana Harbor facility.

Since joining SunCoke in February 2011, as Maintenance Manager at the Company’s Haverhill, Ohio cokemaking facility, Mr.

Nigl has progressed into leadership and oversight roles for the Company’s domestic cokemaking operations.

Prior to joining SunCoke, Mr.

Nigl was Machining General Manager at DMAX Ltd., an American manufacturer of diesel engines for heavy-duty trucks.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business