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Monday, September 22, 2008Las Vegas, Nevada

24th Annual ITA Conference & ExhibitionDawne S. Hickton

Vice Chairman & Chief Executive Officer

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Safe Harbor: The information in this presentation, including oral comments, includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbor created by that Act. Because such forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These include, but are not limited to, the impact of global events on the commercial aerospace industry, ultimate titanium content per copy and actual aircraft build rates for the 787 program, global economic conditions, the competitive nature of the markets for specialty metals, the ability of the Company to obtain an adequate supply of raw materials, the successful completion of our capital expansion projects, and other risks and uncertainties included in the Company’s filings with the Securities and Exchange Commission. Actual results can differ materially from those forecasted or expected. Additional information concerning such factors is contained from time to time in the Company’s Securities and Exchange Commission filings, copies of which can be obtained from the Company or the SEC.

Source: RTI presentation at 2007 ITA Conference, Orlando, FL

2007 Orlando ITA

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2007 Orlando ITA

Source: RTI presentation at 2007 ITA Conference, Orlando, FL

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2007 Orlando ITA

Source: RTI presentation at 2007 ITA Conference, Orlando, FL

Commercial Military

Titanium Demand for Aerospace

• U.S. financial market turmoil• Global financial impact• Change in White House• Geo political concerns

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77

U.S. Domestic Financial Market Impact

• Fannie Mae & Freddie Mac bailout• Subprime mortgage meltdown• Turmoil in investment banking world• Volatility of oil prices

88

2000

2001

2002

2003

2004

2005

2006

2007

e

2008

e

2009

e

GDP

(PP

P) $

Bill

ions

India ('07)Revised ('08)

Source: International Monetary Fund, World Economic Outlook Database, RTI Estimates

GDP Growth in India

99

2000

2001

2002

2003

2004

2005

2006

2007

e

2008

e

2009

e

GDP

(PP

P) $

Bill

ions

China ('07)Revised ('08)

Source: International Monetary Fund, World Economic Outlook Database, RTI Estimates

GDP Growth in China

10

China

0

200

400

600

800

1000

1950 55 60 65 70 75 80 85 90 95 00 05 10 15 20 25 30

Mill

ions

0%

25%

50%

75%

100%

urban inhabitants (millions) % urban

India

0

200

400

600

800

1950 55 60 65 70 75 80 85 90 95 00 05 10 15 20 25 30

Mill

ions

0%

25%

50%

75%

100%

urban inhabitants (millions) % urban

Favorable Demographics

Source: The World Factbook

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Commercial Aerospace

Source: International Civil Aviation Organization, Boeing & Industry Estimates

World Passenger Traffic

0

1000

2000

3000

4000

5000

6000

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

e

2010

e

2012

e

RPK

's (B

illio

ns)

Growth in air travelOrders driven by China, India & Middle East

Continued Increase in Demand for Travel

Country Aircraft Value China 3,238 US$391 billionLatin America 1,448 US$124 billionMiddle East 1,184 US$195 billionIndia 986 US$119 billionTotal 6,856 US$829 billion

• New passenger aircraft demand over next 20 years…

Source: Airbus Global Market Forecast 2007-2026 12

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Source: Aerospace Market News

01 , 0 0 02 , 0 0 03 , 0 0 04 , 0 0 05 , 0 0 06 , 0 0 07 , 0 0 08 , 0 0 0

August 2007

Airbus & Boeing Backlog Totals

August 2008

Represents7 + years

of aircraft production

5,818

7,510

Commercial Aerospace Backlog

14

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000A

pr-0

5

Jun-

05

Aug

-05

Oct

-05

Dec

-05

Feb-

06

Apr

-06

Jun-

06

Aug

-06

Oct

-06

Dec

-06

Feb-

07

Apr

-07

Jun-

07

Aug

-07

Oct

-07

Dec

-07

Feb-

08

Apr

-08

Jun-

08

Plan

es

Widebody Narrowbody

Source: Aerospace Market News – July 2008

Growing mixof titaniumintensiveairframes

Airbus & Boeing Backlog

Historic growth in total backlog

2,535Widebodyairframeson order

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• Airlines need lower aircraft operating costs

• New aircraft designs use more composites

• Titanium and composites compatible- Expansion & contraction at temperature- No galvanic reaction or corrosion

• Composites require increased use of titanium

• Last generation aircraft used 5% titanium

• Boeing’s new 787 contains 20% titanium

Lighter, More Eco-Efficient Aircraft

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Future of Airframes

Fuselage Chords

Floor Beams

Seat Tracks

APUComponents

Wing Box Attachments

Nacelle & Engine Mount

Door & Door Frame

Ribs, Spars, Chords

Thrust Reverser

Fasteners

The above artists rendering is generic in nature and is not intended to accurately represent any specific aircraft or precise locations of parts within.The rendering is designed soleiy to provide an approximation of some parts which can be produced from titanium.”

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AFT FUSELAGE

FWD FWD FUSELAGEFUSELAGE

WING, WING BOX & ENGINE

FWD FUSELAGEFWD FUSELAGE••AirframeAirframe StructureStructure

••FloorFloor BeamsBeams

••Seat Seat TracksTracks

••Fuselage Fuselage ChordsChords

••DoorDoor and and DoorDoor FrameFrame

••WindowWindow FramesFrames

••SpliceSplice JointsJoints

••NoseNose Landing Landing GearGear

••FastenersFasteners

WING & WING BOXWING & WING BOX••Wing Box Wing Box AttachmentsAttachments

••Body Body ChordsChords

••EngineEngine ComponentsComponents

••Nacelle and Nacelle and EngineEngine Mount Mount

••FairingsFairings

••Main Landing Main Landing GearGear

••KeelKeel BeamBeam

••ThrustThrust ReversersReversers

••RibsRibs, , SparsSpars, , ChordsChords

••FastenersFasteners

AFT FUSELAGEAFT FUSELAGE••AuxiliaryAuxiliary Power Unit Power Unit ComponentsComponents

••FloorFloor BeamsBeams

••Seat Seat TracksTracks

••Fuselage Fuselage ChordsChords

••DoorsDoors and and DoorDoor FramesFrames

••EmpennageEmpennage

••SpliceSplice JointsJoints

••TailTail conecone

••FastenersFasteners

GrowingTitanium

Applications

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Future Predictors

1919

Source: The Airline Monitor – July 2007

0100200300400500600700800900

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Plan

es

Boeing '07 Airbus '07

Commercial Aircraft Delivery Forecast2007 Orlando ITA

Cycle trough

2020

Source: The Airline Monitor – July 2008

0100200300400500600700800900

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Plan

es

Boeing '07 Airbus '07 Boeing '08 Airbus '08

Commercial Aircraft Delivery Forecast

Forecast

2008 Las Vegas ITA

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• Over next 20 years…– Passenger & freight demand almost triple– World airline fleet will more than double– Over 24,000 new aircraft deliveries

• 5,400 twin-aisle• 1,200 very large

– Worth US$2.8 trillion current list prices– Over 1,200 average aircraft deliveries per year

Significant Long Term Demand

Source: Airbus Global Market Forecast 2007-2026

2222Source: The Airline Monitor – July 2008

Commercial Aircraft Deliveries

0

500

1000

1500

2000

250019

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

1320

1420

1520

1620

1720

1820

1920

2020

2120

2220

2320

2420

2520

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Plan

es

Average Future Deliveries Boeing & Airbus Deliveries

Over 1,200 average aircraft deliveries per year

2323

Regional Jet Backlog

0

100

200

300

400

500

600

Regional JetBacklog

Bombardier Embraer

Plan

es

Source: Aerospace Market News August 2008, The Airline Monitor July 2008

20072007 2008 2008

Over4,300 regionaljets forecast

next 20years

Backlog656 jets

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0

5

10

15

20

25

30

35

40

2008 2009 2010 2011 2012 2013 2014 2015

Airc

raft

C-17V-22A-400

Military AircraftAnnual Build Rates

Source: RTI & Industry Estimates

25

0

20

40

60

80

100

120

140

2008 2009 2010 2011 2012 2013 2014 2015

Airc

raft

F-35F-22F-15F-18 E/FEurofighter

Military AircraftAnnual Build Rates

Source: RTI & Industry Estimates

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F-35 Joint Strike Fighter

0

50

100

150

200

250

2008 2009 2010 2011 2012 2013 2014 2015

Airc

raft

RTI estimated titanium delivery year

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02040

6080

100120

140160

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Defense Commercial Aerospace

Mill

ions

of P

ound

s

Source: RTI estimates - excludes engines (as of 10/1/07)

Market Forecast – Commercial & Military Airframes

World Titanium Demand Airframes

2007 Orlando ITA

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02040

6080

100120

140160

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Defense '07 Commercial Aerospace '07 2008 Forecast

Mill

ions

of P

ound

s

Source: RTI estimates - excludes engines (as of 8/25/08)

Market Forecast – Commercial & Military Airframes

World Titanium Demand Airframes

2008 Las Vegas ITA

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Thank You