East Coast IDEAS Investor ConferenceBoston, MA

May 18, 2017

Ampco-Pittsburgh Corporation

The Private Securities Litigation Reform Act of 1995 (the “Act”) provides a safe harbor for forward-looking statements made by or on our behalf. This information may contain forward-lookingstatements that reflect our current views with respect to future events and financial performance.All statements in this document other than statements of historical fact are statements that are,or could be, deemed forward-looking statements within the meaning of the Act. In this document,statements regarding future financial position, sales, costs, earnings, cash flows, other measuresof results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets,guidance or goals are forward-looking statements. Words such as “may,” “intend,” “believe,”“expect,” “anticipate,” “estimate,” “project,” “forecast” and other terms of similar meaning thatindicate future events and trends are also generally intended to identify forward-lookingstatements. Forward-looking statements speak only as of the date on which such statements aremade, are not guarantees of future performance or expectations, and involve risks anduncertainties. For Ampco-Pittsburgh, these risks and uncertainties include, but are not limited to,those described under Item 1A, Risk Factors, of Ampco-Pittsburgh’s Annual Report on Form 10-K.In addition, there may be events in the future that we are not able to predict accurately or controlwhich may cause actual results to differ materially from expectations expressed or implied byforward-looking statements. Except as required by applicable law, we assume no obligation, anddisclaim any obligation, to update forward-looking statements whether as a result of newinformation, events or otherwise.

2

Agenda

Introduction to Ampco-Pittsburgh

Recent acquisitions

Financial performance and challenges

Strategies for improving performance

3

Ampco-Pittsburgh Corporation

4

• Headquarters: Carnegie, PA, U.S.• 2016 Revenue: $332M

• Forged and Cast Engineered Products Segment (75% of 2016 revenues)• A world leading manufacturer of cast and forged steel rolls – Union Electric Åkers• 90+ years of experience• Manufacturing and Service Facilities: 7 in U.S., 3 in Europe, 1 in Canada, 3 JVs in

China• Global Sales Network: 12 sales offices

• Air and Liquid Processing Segment (25% of 2016 revenues)• Custom-designed, specialty heat exchangers, air handling systems, and

centrifugal pumps• Manufacturing Plants: 3 in U.S. (2 Virginia, 1 New York)

• NYSE: AP• 1,900 employees

A manufacturer of highly engineered, high performance specialty metalproducts and customized equipment utilized by industry throughout theworld. The Company was incorporated in 1929.

Ampco-Pittsburgh Global Footprint

5

Locations

Manufacturing

Sales Office

Ampco-Pittsburgh Corporation (cont’d)

6

Two Segments Reported: 2015 Revenue 2016 RevenueForged and Cast Engineered Products $152.3M $247.7M*

• Forged and Cast Rolls

• Open Die Forged Products

Air and Liquid Processing $86.2M $84.2M

• Aerofin- Heat Exchangers

• Buffalo Air Handling - Custom Air Handling Systems

• Buffalo Pumps – Specialty Centrifugal Pumps

The Corporation $238.5M $331.9M

* Revenues for 2016 include that of Åkers and ASW from their respective dates of acquisition in 2016. For the ten months ended December 31, 2016, net sales for Åkers approximated $121.1M. For the two months ended December 31, 2016, net sales for ASW approximated $7.5M.

Forged and Cast Engineered Products Segment

7

Key Customers

8

9

Backup Roll

Work Roll

10

Rolls Staged in Hot Strip Mill (HSM)

2016 Global Roll Market

11

($ Billions USD/yr)

Cast Rolls ~1.3Forged Rolls ~0.8

Total ~2.1

U.S. Roll Market ~0.3

Competing companies in global roll industry are mostly small, private regional companies

Cast Rolls Forged Rolls

*Ampco-Pittsburgh completed acquisition of Åkers in Q1 2016.

12

Air and Liquid Processing Segment (A&LP)

13

AerofinHeat Transfer Products

14

Buffalo Air HandlingCustom Air Handling Systems

15

Buffalo PumpsSpecialized Centrifugal Pumps

16

Åkers and ASW Steel Inc. Acquisitions

17

Benefits of Åkers Acquisition

18

International roll producer and largest former competitor

Acquired March 3, 2016 for $74.2M

Revenue from roll business should grow substantially

Should contribute to stabilizing and improving performance of Ampco

Cost reduction and other synergies estimated in range of ~$15M on full year run-rate basis when complete

Provides improved currency “balance”

Combined new product development capability

ASW Steel Inc.

19

Acquired November 1, 2016 for $13.1M

Located in Welland, Ontario, Canada

Premier specialty steel-making facility

Offers a unique combination of carbon, stainless, and other specialty steelmaking capabilities

Flexible steel refining methods include:

Argon oxygen decarburization, vacuum oxygen decarburization, vacuum degassing, ladle metallurgical station

ASW Steel's specialty metals and flexible steel refining methods allow for the production of various high-quality products

“Bolt-on” acquisition

Annual revenue approximately CAD 65 million

Benefits of ASW Acquisition

20

ASW’s broad expertise in flexible steel refining methods provide us with the capabilities to manufacture the additional chemistries needed to expand our reach into the open-die forging market

Enhances our ability to grow and add new markets for customers in the following markets: Oil & Gas Power generation Aerospace Transportation Construction

Recent Financial Performance and Challenges

21

22

Ampco’s financial performance has deteriorated in recent years primarily due to Forged & Cast Engineered Products’ performance

Global steel market depressed since 2011

Roll business sales, margins, and profits have declined as customers reduced production and costs

Contraction of forged products for the oil & gas industry (2015)

Air and Liquid Processing profitable, consistent performer, but lacks growth

Sales and Operating Results Trend

23

Operating Income/(Loss)Sales

2013 20142015

2016

Key Factors Impacting 2016 Profitability

24

Low roll product volume demand

Low manufacturing capacity utilization

Unfavorable pricing

Non-recurring M&A-related costs, acquisition integration & restructuring

Impairment charge (Goodwill) ($26.7M)

Asbestos charge, net ($4.6M)

Tax valuation allowance reserve ($30.4M)

Q1 2017 Summary Financials($ Millions USD) Q1 2017 Q1 2016Net sales $103.5 $63.6

Cost of products sold $84.7 $51.1

Selling and administrative $15.3 $13.5

Depreciation and amortization $5.9 $3.9

(Loss) income from operations ($2.4) ($5.0)

Interest expense ($1.2) ($0.2)

Other income (expense) – mainly FX (loss) gain ($1.0) $1.2

Income tax (provision) benefit ($0.1) $0.9

Equity income (losses) in Chinese JV $0.1 $0.2

Net (loss) income ($4.8) ($2.9)

E.P.S ($0.39) ($0.26)

25

$32.6M higher sales for businesses acquired in 2016 $7.5M or 18% YOY organic sales growth in Forged & Cast Engineered Products Segment Improved underlying sequential operating performance vs Q4 2016

~($4.2M)swing

Strategies to Improve Ampco Performance

26

Strategies to Improve Performance are in Process

27

Diversify into open die market (in addition to rolls and frac blocks)

Bifurcate roll pricing model: commodity vs. high-performance

Launch new products (rolls and open die)

Pricing strategy

Increase plant efficiency, utilization, and cost reductions

Replace Aerofin fossil fuel market lost sales

Reasons For Diversification

Cyclicality of steel and aluminum industries drove decision to strategically diversify the company

Lack of market size growth

Manufacturing requirements for open die forge market are strong match for our manufacturing assets

Four year successful record in penetrating the oil field services industry

28

29 Source: FIA

Roll Market

ASW Acquisition

Ampco-Pittsburgh Revenue Trend Expectations

7.7% CAGR

30

Reasons to Expect Improved Performance Beginning in 2017

31

Steel industry increased profitability (tariffs, pricing)

Order increases for cast and forged rolls

Renewed order activity in oil field services industry

Roll product price increases (late Q2/Q3)

U.S. cast roll foundry idling (April 2017) – utilization up at remaining plants

Åkers acquisition synergy impact

Low cost plants acquired for non-differentiated rolls

Various manufacturing cost and efficiency initiatives

Thank youQuestions

Ampco-Pittsburgh Corporation