Market Overview

GrafTech Announces the Launch of a Secondary Offering and Concurrent Share Buyback

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GrafTech International Ltd. (NYSE:EAF) (the "Company") today announced
the launch of a secondary offering of 20,000,000 shares of its common
stock. The shares are being offered by the majority stockholder, an
affiliate of Brookfield Business Partners LP, a publicly listed business
services and industrials company of Brookfield Asset Management Inc. The
selling stockholder expects to grant the underwriters a 30 day option to
purchase up to an additional 3,000,000 shares.

J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are
acting as joint lead book running managers and as representatives of the
underwriters for the offering; Citigroup Global Markets Inc., RBC
Capital Markets, LLC, HSBC Securities (USA) Inc. and BMO Capital Markets
Corp. are also acting as joint book running managers for the offering.

The proposed offering of the securities will be made only by means of a
prospectus. When available, copies of the preliminary prospectus
relating to the offering may be obtained from: J.P. Morgan Securities
LLC, Attention: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions 1155 Long Island Avenue, Edgewood, NY 11717, or via telephone:
1-866-803-9204; or Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, NY 10010, or by
telephone at (800) 221-1037, or by email at newyork.prospectus@credit-suisse.com.

A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective.

In addition, the Company announced that it intends to enter into a share
repurchase agreement with the selling stockholder pursuant to which it
intends to repurchase up to $225 million of shares from Brookfield. The
price per share to be paid by the Company will be equal to the price
paid by the underwriters in the offering, net of underwriting
commissions and discounts. The Company expects to fund the share
repurchase from cash on hand. The share repurchase is expected to be
consummated concurrently with the offering. Although the share
repurchase will be conditioned upon, among other things, the closing of
the offering, the closing of the offering will not be conditioned upon
the closing of the share repurchase.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

GrafTech International Ltd. is a leading manufacturer of high
quality graphite electrode products essential to the production of
electric arc furnace (or EAF) steel and other ferrous and non-ferrous
metals.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this press release regarding the Company that are not
historical facts are "forward-looking statements" that involve risks and
uncertainties. The Company undertakes no obligation to update the
information contained in this press release to reflect subsequently
occurring events or circumstances.

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