On June 10, 2023, Haynes International Inc. began experiencing a network outage indicative of a cybersecurity incident. Upon detection of the incident, the Company engaged third-party specialists to assist in investigating the source of this outage, determine its potential impact on the Company's systems, and securely restore full functionality to the Company's systems as soon as possible. The Company's Incident Response Team reported the incident to law enforcement and has taken additional steps to protect the integrity of the Company's systems. Despite temporarily shutting down its network while it investigates the threat, the Company continues to run many of its manufacturing operations during the investigation, albeit initially less efficiently.

At this time, the network shutdown is primarily affecting administrative, sales, financial and customer service functions. The investigation into this incident is ongoing, and the Company and its consultants are working to restore network functionality.