# EDGAR Filing Document

**Accession Number:** 0000006176
**File Stem:** 0001193125-26-127659
**Filing Date:** 2026-3
**Character Count:** 200975
**Document Hash:** 63fcc6bc723f970c95f07a32486d68d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-127659.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0001193125-26-127659

**CONFORMED SUBMISSION TYPE**: DEF 14A

**PUBLIC DOCUMENT COUNT**: 19

**CONFORMED PERIOD OF REPORT**: 20260508

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMPCO PITTSBURGH CORP
- **CENTRAL INDEX KEY:** 0000006176
- **STANDARD INDUSTRIAL CLASSIFICATION:** PUMPS & PUMPING EQUIPMENT [3561]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 251117717
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DEF 14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-00898
- **FILM NUMBER:** 26801219

**BUSINESS ADDRESS:**
- **STREET 1:** 726 BELL AVENUE
- **STREET 2:** SUITE 301
- **CITY:** CARNEGIE
- **STATE:** PA
- **ZIP:** 15106
- **BUSINESS PHONE:** 412-456-4400

**MAIL ADDRESS:**
- **STREET 1:** 726 BELL AVENUE
- **STREET 2:** SUITE 301
- **CITY:** CARNEGIE
- **STATE:** PA
- **ZIP:** 15106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCREW & BOLT CORP OF AMERICA
- **DATE OF NAME CHANGE:** 19710518

?xml version='1.0' encoding='ASCII'? DEF 14A

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

SCHEDULE 14A

**Proxy Statement Pursuant to Section 14(a) of the Securities**

**Exchange Act of 1934 (Amendment No.)**

Filed by the Registrant ☒ <br> Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☒ Definitive Proxy Statement

☐ Definitive Additional Materials

☐ Soliciting Material under §240.14a-12

Ampco–Pittsburgh Corporation

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**(Name of Registrant as Specified in its Charter)**

------

**(Name of Person(s) Filing Proxy Statement, if other than the Registrant)**

Payment of Filing Fee (Check the appropriate box):

☒ No fee required.

☐ Fee paid previously with preliminary materials.

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

------

![img249340759_0.jpg](img249340759_0.jpg)

726 Bell Avenue, Suite 301, Carnegie, Pennsylvania 15106

**NOTICE OF ANNUAL MEETING OF SHAREHOLDERS**

**TO BE HELD FRIDAY, MAY 8, 2026**

TO THE SHAREHOLDERS OF

AMPCO-PITTSBURGH CORPORATION

Notice is hereby given that the Annual Meeting of Shareholders of Ampco-Pittsburgh Corporation ("Ampco" or the "Corporation") will be held in the Founders Room, 1st Floor, The Duquesne Club, 325 Sixth Avenue, Pittsburgh, Pennsylvania, at 10:00 A.M., Eastern Time on Friday, May 8, 2026, for the following purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.to elect two directors for a term that expires in 2029;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.to hold a non-binding advisory vote to approve the compensation of our named executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.to ratify the appointment of BDO USA, P.C. as the independent registered public accounting firm for 2026; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.to transact such other business as may properly come before the meeting and any adjournment or postponement thereof.

The foregoing items of business are more fully described in the Proxy Statement accompanying this Notice of Annual Meeting. The Board unanimously recommends that shareholders vote "**FOR**" both of the nominees for director named in the accompanying Proxy Statement and "**FOR**" each of Proposals 2 and 3 on the enclosed proxy card.

Only shareholders of record at the close of business on March 12, 2026 are entitled to notice of and to vote at the meeting and any adjournment or postponement thereof. The Annual Meeting may be adjourned or postponed from time to time. At any adjourned or postponed meeting, action with respect to matters specified in this notice may be taken without further notice to shareholders, unless required by law or the Corporation's Amended and Restated By-laws (the "Bylaws").

All shareholders are cordially invited to attend the Annual Meeting. Whether or not you expect to attend, we encourage you to submit your proxy as soon as possible using one of three convenient methods by (i) accessing the internet site described in the accompanying proxy statement and on the proxy card or voting instruction form provided to you, (ii) calling the toll-free number in the accompanying proxy statement and on the proxy card or voting instruction form provided to you, or (iii) completing, signing, dating and returning the enclosed proxy card promptly in the accompanying envelope, which requires no postage if mailed in the United States, or voting instruction form provided to you.

If your broker, bank, trustee or other similar organization is the holder of record of your shares (*i.e.*, your shares are held in "street name"), you will receive a voting instruction form from the holder of record. You must provide voting instructions by filling out the voting instruction form in order for your shares to be voted. We recommend that you instruct your broker or other nominee to vote your shares on the enclosed proxy card. The proxy is revocable and will not affect your right to vote in person if you attend the Annual Meeting.

The Board, including all of its independent directors, unanimously recommends that you vote on the Proxy Card or voting instruction form "**FOR**" the election of Mr. J. Brett McBrayer and Mr. Darrell L. McNair.

If you are unable to attend the Annual Meeting, a replay of the meeting will be available on <u>www.ampcopgh.com/investors</u>.

------

Regardless of the number of shares of Common Stock of the Corporation that you own, your vote is important. Thank you for your continued support, interest and investment in Ampco-Pittsburgh Corporation.

---

| |
|:---|
| BY ORDER OF THE BOARD OF DIRECTORS |
| Kimberly P. Knox, |
| *Corporate Secretary* |

---

Pittsburgh, Pennsylvania

March 27, 2026

**Important Notice Regarding the Availability of Proxy Materials for**

**the Annual Meeting of Shareholders to Be Held on Friday, May 8, 2026**

**The proxy statement and the annual report of the Corporation are available at**

**<u>http://www.ampcopgh.com/investors</u>**

For those requesting physical copies of our Annual Report for the year ending December 31, 2025, please mail such request to:

Ampco-Pittsburgh Corporation

c/o Corporate Secretary

726 Bell Avenue, Suite 301

P.O. Box 457

Carnegie, PA 15106

**All shareholders are cordially invited to attend the Annual Meeting in person. Your vote is important, and, whether or not you expect to attend the Annual Meeting in person, it is requested that you PROMPTLY fill in, sign, and return the enclosed proxy card or follow the internet or telephone voting instructions included in the accompanying proxy statement and on the proxy card.**

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**TABLE OF CONTENTS** 

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| | |
|:---|:---|
| [<u>Proxy Statement</u>](#proxy_statement) | 2 |
| [<u>Proxy Summary</u>](#proxy_summary) | 3 |
| [<u>Questions And Answers Regarding The Annual Meeting</u>](#questions_answers_regarding_annual_meeti) | 6 |
| [<u>Election Of Directors</u>](#election_directors) | 12 |
| [<u>Summary Of Director Attributes And Skills</u>](#summary_director_attributes_skills) | 12 |
| [<u>Board Of Directors' Nominees</u>](#nominees) | 13 |
| [<u>Nominees For Director Whose Term Of Office Expires In 2029</u>](#nominees_2028) | 13 |
| [<u>Continuing Directors Whose Term Of Office Expires In 2028</u>](#directors_continuing_2028) | 14 |
| [<u>Continuing Directors Whose Term Of Office Expires In 2027</u>](#director_continues_2027) | 15 |
| [<u>Process Of Evaluation Of Director Candidates</u>](#process_of_evaluation_of_director) | 16 |
| [<u>Director Compensation</u>](#director_compensation) | 16 |
| [<u>Director Fees</u>](#director_fees) | 16 |
| [<u>2025 Director Compensation</u>](#n2021_director_compensation) | 17 |
| [<u>Directors' Alignment With Shareholders; Stock Ownership Guidelines</u>](#directors_alignment_with_shareholders_s) | 18 |
| [<u>Corporate Governance</u>](#corporate_governance) | 19 |
| [<u>Corporate Governance Summary</u>](#corporate_governance_summary) | 19 |
| [<u>Board Independence</u>](#board_independence) | 20 |
| [<u>Leadership Structure</u>](#leadership_structure) | 21 |
| [<u>Director Nominating Procedures</u>](#director_nominating_procedures) | 21 |
| [<u>Director Terms</u>](#director_terms) | 21 |
| [<u>Voting For Directors</u>](#voting_for_directors) | 22 |
| [<u>Board's Role In Risk Oversight</u>](#boards_role_in_risk_oversight) | 22 |
| [<u>Executive Sessions</u>](#executive_sessions) | 22 |
| [<u>Communications With Directors</u>](#security_holder_communications_with_dire) | 22 |
| [<u>Annual Meeting Attendance</u>](#annual_meeting_attendance) | 22 |
| [<u>Board Committees</u>](#board_committees) | 23 |
| [<u>Summary</u>](#summary) | 23 |
| [<u>Audit Committee</u>](#audit_committee) | 23 |
| [<u>Compensation Committee</u>](#compensation_committee) | 24 |
| [<u>Executive Committee</u>](#executive_committee) | 24 |
| [<u>Nominating And Governance Committee</u>](#nominating_governance_committee) | 24 |
| [<u>Security Ownership Of Certain Beneficial Owners And Management</u>](#security_ownership_certain_beneficial_ow) | 25 |
| [<u>Beneficial Ownership Of More Than Five Percent</u>](#beneficial_ownership_more_than_five_perc) | 25 |
| [<u>Director And Executive Officer Stock Ownership</u>](#director_executive_ficer_stock_ownership) | 26 |
| [<u>Non-Binding, Advisory Vote On Compensation Of Our Named Executive Officers (Proposal 2)</u>](#nonbinding_advisory_vote_on_compensation) | 27 |
| [<u>Compensation Discussion And Analysis ("CD&A")</u>](#compensation_discussion_analysis) | 28 |
| [<u>Executive Compensation Overview</u>](#executive_compensation_overview) | 28 |
| [<u>2025 Highlights</u>](#n2021_highlights) | 28 |
| [<u>Key Features Of Our Executive Compensation Program</u>](#key_features_of_our_executive) | 29 |
| [<u>2025 Compensation Objectives</u>](#n2021_compensation_objectives) | 31 |
| [<u>2025 Compensation Decisions</u>](#n2021_compensation_decisions) | 31 |
| [<u>Other Compensation Practices And Policies</u>](#or_compensation_practices_policies) | 38 |
| [<u>Summary Compensation Table</u>](#summary_compensation_table) | 40 |
| [<u>Outstanding Equity Awards At Fiscal Year-End</u>](#outsting_equity_awards_at_fiscal_yearend) | 41 |
| [<u>Potential Payments Upon Termination, Resignation Or Change In Control</u>](#potential_payments_upon_termination_resi) | 42 |
| [<u>Report Of The Compensation Committee</u>](#report__compensation_committee) | 44 |
| [<u>Certain Relationships And Related Transactions</u>](#certain_relationships_related_transactio) | 45 |
| [<u>Report Of The Audit Committee</u>](#report__audit_committee) | 45 |
| [<u>Ratification Of The Appointment of BDO USA, P.C. As The Independent Registered Public Accounting For 2026 (Proposal 3)</u>](#ratification_auditors) | 47 |
| [<u>Equity Compensation Plan Information</u>](#equity_compensation_plan) | 48 |
| [<u>Pay Versus Performance</u>](#pay_vs_performance) | 49 |
| [<u>Delinquent Section 16(a) Reports</u>](#delinquent_filings) | 51 |
| [<u>Shareholder Proposals and Nominations For 2027 Annual Meeting</u>](#shareholder_proposals) | 52 |
| [<u>Householding Of Proxy Materials</u>](#householding_proxy_materials) | 52 |
| [<u>References to Our Website Address</u>](#references_to_our_website_address) | 52 |
| [<u>Incorporation By Reference</u>](#incorporation_by_reference) | 52 |
| [<u>Other Matters</u>](#other_matters) | 52 |

---

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![img249340759_1.jpg](img249340759_1.jpg)

# PROXY ST ATEMENT
**Annual Meeting of Shareholders to be held May 8, 2026** 

This Proxy Statement and the accompanying proxy card, along with the 2025 Annual Report to Shareholders is being distributed to shareholders on or about March 27, 2026 in connection with the solicitation by the Board of Directors (the "Board") of Ampco-Pittsburgh Corporation, a Pennsylvania corporation (the "Corporation") of proxies to be voted at the Annual Meeting of Shareholders (the "Annual Meeting"), which will be held at the Founders Room, 1st Floor, The Duquesne Club, 325 Sixth Avenue, Pittsburgh, Pennsylvania on Friday, May 8, 2026 at 10:00 AM., Eastern Time and at any adjournment or postponement thereof, for the purposes set forth in the accompanying Notice of Annual Meeting. Any shareholder giving such a proxy may revoke it at any time before it is exercised by written notice to the Corporate Secretary of the Corporation at 726 Bell Avenue, Suite 301, P.O. Box 457, Carnegie, PA 15106, by giving a later dated proxy or by attending the Annual Meeting and voting in person. Attendance at the Annual Meeting will not in itself have the effect of revoking the proxy.

As used in this Proxy Statement, the terms "Ampco", "the Corporation", "we", "us", and "our" refer to Ampco-Pittsburgh Corporation.

**Important Notice Regarding Forward-Looking Information Contained in this Proxy Statement**

Any forward-looking statements contained in this Proxy Statement are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Corporation regarding the future, and may be identified by the use of words such as "expects," "believes," "intends," "projects," "anticipates," "estimates," "plans," "seeks," "forecasts," "predicts," "objective," "targets," "potential," "outlook," "may," "will," "could" or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to be materially different from management's expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company's results to differ materially from the results discussed in such forward-looking statements principally include, but are not limited to, the inability to maintain adequate liquidity to meet our operating cash flow requirements, repay maturing debt and meet other financial obligations as they become due; economic downturns, cyclical demand for our products and insufficient demand for our products; excess global capacity in the steel industry; inability to successfully restructure our operations, exit our U.K. operations, and/or invest in operations that will yield the best long-term value to our shareholders; changes in the global economic environment, inflation, the ongoing impact of tariffs, elevated interest rates, recessions or prolonged periods of slow economic growth, and global instability and actual and threatened geopolitical conflict; liability of our subsidiaries for claims alleging personal injury from exposure to asbestos-containing components historically used in certain products of our subsidiaries; inability to obtain necessary capital or financing on satisfactory terms to acquire capital expenditures that may be necessary to support our growth strategy; inoperability of certain equipment on which we rely; increases in commodity prices or insufficient hedging against increases in commodity prices, reductions in electricity and natural gas supply or shortages of key production materials for us or our customers; inability to satisfy the continued listing requirements of the New York Stock Exchange; potential attacks on information technology infrastructure and other cyber-based business disruptions; fluctuations in the value of the U.S. dollar relative to other currencies; changes in the existing regulatory environment; consequences of pandemics and geopolitical conflicts; work stoppage or another industrial action on the part of any of our unions; failure to maintain an effective system of internal control; and other factors described in the Company's Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission (the "SEC"). The Corporation cautions that the foregoing list of important factors is not all inclusive. Readers are also cautioned not to place undue reliance on any forward-looking statements, which reflect management's analysis only as of the date of this Proxy Statement, even if subsequently made available by the Corporation on its website or otherwise. The Corporation does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Corporation to reflect events or circumstances occurring after the date of this Proxy Statement unless required by law.

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# PROXY S UMMARY
This summary highlights information contained elsewhere in this Proxy Statement. You should read this entire Proxy Statement carefully before voting. This Proxy Statement and the related proxy materials were first distributed to shareholders on or about March 27, 2026.

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| | |
|:---|:---|
| **Annual Meeting of Shareholders**  | **Annual Meeting of Shareholders**  |
| **• Time and Date:** | 10:00 A.M., Eastern Time, May 8, 2026 |
| **• Place:** | Founders Room, 1st Floor, The Duquesne Club, 325 Sixth Avenue, Pittsburgh, Pennsylvania |
| **• Record Date:** | March 12, 2026 |
| **• Voting:** | Only shareholders as of the record date, March 12, 2026, are entitled to vote. As of the Record Date for the annual meeting, there were 20,326,389 shares of Common Stock outstanding and expected to be entitled to vote at the Annual Meeting. There are no other securities of the Corporation outstanding and entitled to vote at the Annual Meeting. <br>Your broker will NOT be able to vote your shares with respect to any of the matters presented at the meeting other than the ratification of the selection of our independent registered public accounting firm unless you give your broker specific voting instructions.<br>Even if you plan to attend the annual meeting, please cast your vote as soon as possible by:<br>•Using the internet at <u>www.proxyvote.com</u>;<br>•Calling toll-free from the United States, U.S. territories and Canada to 1-800-690-6903; or<br>•Mailing your signed proxy card or voting instruction form. |

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| | |
|:---|:---|
| **• Attending the Annual Meeting:** | To be admitted to the Annual Meeting, you will be required to present a government-issued photo identification (such as a driver's license or passport).<br>If you hold shares in street name, you must request a confirmation of beneficial ownership from your broker to vote in person at the meeting.<br>You do not need to attend the Annual Meeting to vote if you have properly submitted your proxy in advance of the meeting. |
| **• Meeting Agenda:** | &nbsp;&nbsp;&nbsp;&nbsp;1.Election of two directors;<br>2.Non-binding, advisory vote to approve the compensation of our named executive officers;<br>3.Ratification of the appointment of BDO USA, P.C. as our independent registered public accounting firm for 2026; and<br>4.Transaction of such other business as may properly come before the meeting and any adjournment or postponement thereof. |

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**Voting Matters**

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| | |
|:---|:---|
| **Proposals** | **Board Recommendation** |
| Election of Directors | FOR both of the Board's nominees |
| Non-binding, advisory vote to approve the compensation of our named executive officers. | FOR |
| Ratification of the appointment of BDO USA, P.C. as our independent registered public accounting firm for 2026. | FOR |

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**Board Nominees**

You are being asked to vote on the election of nominees to serve on the Board, for a term of three years to fill the class of directors whose term expires in 2029. Additional information about the background and experience of the two nominees recommended by the Board can be found beginning on page 12.

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***THE BOARD UNANIMOUSLY RECOMMENDS VOTING "FOR" THE ELECTION OF BOTH OF THE BOARD'S NOMINEES IN PROPOSAL 1 USING THE ENCLOSED PROXY CARD.***

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Age at Annual Meeting** | **Director<br>Since** | **Occupation** | **Experience/<br>Qualification** | **Independent** | **Committee<br>Assignments** |
| J. Brett McBrayer | 60 | 2018 | Chief Executive Officer, Ampco-Pittsburgh Corporation | Experience in global industrial businesses and broad executive leadership experience |  | Executive |
| Darrell L. McNair | 63 | 2022 | President and Chief Executive Officer of the MVP Group of Companies | Strong corporate experience working in a number of executive management roles throughout his career; professional contributions in civic and community leadership and visibility | X | Compensation; Nominating and Governance |

---

**Corporate Governance Highlights**

We are committed to good corporate governance, which we believe is important to the success of our business and in advancing shareholder interests. Our corporate governance practices are described in greater detail in the "*Corporate Governance*" section. Highlights include:

✓Seven out of eight Board members are independent (as of the date of this Proxy Statement)

✓Separate non-executive Board Chair and Chief Executive Officer roles

✓Independent Audit, Compensation, and Nominating and Governance Committees

✓Risk oversight by full Board and committees

✓Regular executive sessions of independent directors

✓Average Board and committee meeting attendance of 95% during 2025

✓Nominating and Governance Committee considers director candidates recommended by shareholders on the same basis as internally nominated candidates

✓Cumulative voting for directors

✓Annual Board and committee self-evaluations

✓"Say-on-Pay" votes held annually

✓Policies (i) prohibiting hedging and pledging, (ii) providing for the recoupment of incentive awards under certain conditions in the event of a financial restatement pursuant to SEC Rule 10D-1 and New York Stock Exchange ("NYSE") Listed Company Manual Section 303A.14, (iii) generally prohibiting tax gross-ups of perquisites, and (iv) for protection of whistleblowers

**Executive Compensation Program Highlights**

Our executive compensation program is designed to attract and retain top talent by enabling the Corporation to compete effectively for the highest quality personnel and to pay for performance by aligning compensation with the achievement of both short-term and long-term financial objectives that build shareholder value.

The 2025 executive compensation program featured a balanced mix of salary and performance-driven annual and long-term incentive award opportunities. In designing our executive compensation program, we have implemented programs and policies that support our commitment to good compensation governance and that create alignment between our executives and our shareholders.

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**WHAT WE DO**

✓Align CEO pay with corporate performance

✓Use long-term incentives to link a significant portion of named executive officer pay to corporate performance

✓Balance short-term and long-term incentives

✓Cap incentive awards

✓Require the claw back of erroneously awarded compensation from executives and, following an accounting restatement, permit discretionary claw backs of time-based compensation from executives

✓Use an independent compensation consultant

✓Compare compensation levels and incentive design to a relevant peer group to ensure competitive compensation opportunities

✓Multi-year vesting periods for equity awards

✓Significant portion of compensation "at risk" subject to achievement of performance metrics

✓Maintain robust stock ownership guidelines

✓Provide double trigger equity vesting in the event of a change in control

✓Review tally sheets for all Executive Officers

✓Review our compensation-related risk profile

**WHAT WE DON'T DO**

&nbsp;&nbsp;&nbsp;&nbsp;X Section 280G tax gross-up rights

&nbsp;&nbsp;&nbsp;&nbsp;X Option repricing or replacement without shareholder approval

&nbsp;&nbsp;&nbsp;&nbsp;X Allow hedging or pledging of our securities

&nbsp;&nbsp;&nbsp;&nbsp;X Provide significant perquisites

Additional information about our compensation philosophy and program, including compensation determinations for each of our named executive officers, can be found in the "Executive Compensation Overview" starting on page 28 of this Proxy Statement.

**Ratification of the Appointment of our Independent Registered Public Accounting Firm for 2026**

We are requesting that shareholders ratify the appointment of BDO USA, P.C. as the Corporation's independent registered public accounting firm for the fiscal year ending December 31, 2026. The table below shows the fees paid by the Corporation to BDO USA, P.C., the independent public accounting firm for the fiscal years ended December 31, 2025 and December 31, 2024, respectively.

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| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Audit fees (a) | $1101471 | $1126351 |
| Audit-related fees (b) |  |  |
| Tax fees (c) |  |  |
| All other fees |  |  |
| Total | $1101471 | $1126351 |

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(a)Fees for audit services primarily related to the audit of (1) the Corporation's annual consolidated financial statements and (2) statutory financial statements for the Corporation's foreign subsidiaries.

(b)Fees for audit-related services related to attest services not required by statute or regulation.

(c)Fees for tax-related services.

We encourage you to read the entire Proxy Statement and to vote your shares using the instructions on the proxy card for the Annual Meeting. If you are unable to attend the Annual Meeting in person, we encourage you to submit a proxy using the instructions on the proxy card so that your shares will be represented and voted for each of the proposals described in this Proxy Statement.

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# QUESTIONS AND ANSWERS REG ARDING THE ANNUAL MEETING
**Q: Why am I receiving these materials?**

A: As a shareholder, we are providing these proxy materials to you in connection with our solicitation of proxies to be voted at our Annual Meeting, which will take place on Friday, May 8, 2026. Each of the Notice of Internet Availability of Proxy Materials and these materials were first distributed to shareholders on or about March 27, 2026. You are invited to attend the Annual Meeting, and you are requested to vote on the proposals described in this Proxy Statement.

**Q: What is included in these materials?**

A: These materials include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our Proxy Statement for the Annual Meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The proxy card/voting instruction form for the Annual Meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our 2025 Annual Report which includes our audited consolidated financial statements.

**Q: What do I need to do to attend the Annual Meeting?**

A: Valid government-issued photo identification, such as a driver's license or passport, is required to attend the Annual Meeting. The registration desk will open at 9:45 a.m. and the meeting will begin at 10:00 AM. Please note that seating in the meeting room is limited.

If you own shares in street name, you will need to ask your bank or broker for an admission card in the form of a confirmation of beneficial ownership. You will need to bring a confirmation of beneficial ownership with you to vote at the Annual Meeting. If you do not receive your confirmation of beneficial ownership in time, bring your most recent brokerage statement with you to the Annual Meeting. We can use that to verify your ownership of Common Stock and admit you to the meeting; however, you will not be able to vote your shares at the meeting.

**Q: What am I being asked to vote on?**

A: You are being asked to vote on the following proposals:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•<u>Proposal 1</u> – Election of two directors for a term that expires in 2029;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•<u>Proposal 2</u> – Non-binding, advisory vote to approve the compensation of our named executive officers (the "Say-on-Pay Proposal");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•<u>Proposal 3</u> – Ratification of the appointment of BDO USA, P.C. as our independent registered public accounting firm for 2026 (the "BDO Ratification Proposal"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Such other business as may properly come before the meeting and any adjournment or postponement thereof.

**Q: What are the voting recommendations of the Board?**

A: The Board recommends the following votes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**FOR** the election of Mr. J. Brett McBrayer and Mr. Darrell L. McNair for the term that expires in 2029;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**FOR** the Say-on-Pay Proposal; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**FOR** the BDO Ratification Proposal.

**Q: Why is the Board making such recommendations?**

A: We describe each proposal and the Board's reason for its recommendation with respect to each proposal beginning on pages 12, 27, and 48, and elsewhere in this Proxy Statement.

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**Q: Will any other matters be voted on?**

A: We are not aware of any other matters that will be brought before the shareholders for a vote at the Annual Meeting. If any other matter is properly brought before the meeting, your proxy card will authorize each of Keith A. Zatawski and Kimberly P. Knox (together, the "Proxies") to vote on such matters in their discretion.

**Q: Who is soliciting my proxy?**

A: The Board, on behalf of the Corporation, is soliciting your proxy to vote your shares of Common Stock on all matters scheduled to come before the Annual Meeting, whether or not you attend the meeting. By completing, signing, dating and returning the proxy card or voting instruction form, or by transmitting your proxy and voting instructions over the internet or by telephone, you are authorizing the Proxies to vote your shares of Common Stock at the Annual Meeting as you have instructed. Proxies will be solicited on behalf of the Board by the Corporation's directors, director nominees, and certain executive officers of the Corporation, and the Corporation will bear the costs of such solicitation.

**Q: Who is entitled to vote at the Annual Meeting?**

A: The Board has set March 12, 2026 as the Record Date for the Annual Meeting. You are entitled to notice and to vote if you are a shareholder as of the close of business on March 12, 2026. You are entitled to one vote on each proposal for each share of Common Stock you hold on the Record Date, except shareholders have the right to cumulate votes in regard to the election of directors. Your shares may be voted at the Annual Meeting only if you are "present" at the Annual Meeting or your shares are represented by a valid proxy. At the close of business on March 12, 2026, there were 20,326,389 shares of our Common Stock issued and outstanding.

**Q: What is the difference between a shareholder of "record" and a "street name" owner?**

A: If your shares are registered directly in your name, you are considered the shareholder of record with respect to those shares. The Corporation sent the proxy materials directly to you. The proxy card accompanying this Proxy Statement will provide information regarding how to vote your shares.

If your shares are held in a stock brokerage account or by a bank, trust or other nominee, then the broker, bank, trust or other nominee is considered to be the shareholder of record with respect to those shares. You are considered to be the beneficial owner of those shares and your shares are said to be held in "street name," and the proxy materials are being forwarded to you by that organization. Street name owners generally cannot submit a proxy or vote their shares directly and must instead instruct the broker, bank, trust or other nominee how to vote their shares. If you do not provide that organization with specific direction on how to vote, other than with respect to the ratification of the selection of our independent registered public accounting firm, your shares held in the name of that organization may not be voted and will not be considered entitled to vote on any matters to be considered at the Annual Meeting, and as such, however, your shares will be considered present at the Annual Meeting. If you own your shares in "street name," please instruct your bank, broker, trustee or other nominee how to vote your shares using the voting instruction form provided by your bank, broker, trustee or other nominee so that your vote can be counted. The provided voting instruction form may also include information about how to submit your voting instructions over the internet or by telephone, if such options are available.

**Q: How do I vote?**

A: The process for voting your shares depends on how your Common Stock is held. Generally, you may hold Common Stock in your name as a "shareholder of record" or in an account with a broker, bank, trust or other nominee (i.e., in "street name"). Ballots will be provided during the Annual Meeting to anyone who wants to vote in person at the meeting. If you hold shares in street name, you must request a confirmation of beneficial ownership from your broker to vote in person at the meeting.

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*VOTING AS A SHAREHOLDER OF RECORD*

If you are a shareholder of record as of the close of business on the Record Date, you may cast your vote using any of the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•<u>By internet</u>: Please visit <u>www.proxyvote.com</u> or, if you received printed copies of your proxy materials, scan the QR code located on your proxy card. You will need the control number included on your Notice or proxy card.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•<u>By telephone</u>: Please call the number listed on your Notice or proxy card and follow the recorded instructions. You will need the control number included on your Notice or proxy card.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•<u>By mail</u>: All shareholders of record who received paper copies of our proxy materials can vote by marking, signing, dating, and returning their proxy card. If you are a shareholder of record and received a Notice, you may request a proxy card by following the instructions included in the Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•<u>In Person at the Annual Meeting</u>: Please follow the instructions for attending the Annual Meeting. All votes must be received before the polls close during the Annual Meeting. Voting in person at the Annual Meeting will replace any previous votes.

The telephone and internet voting facilities for the shareholders of record of all shares will close at 11:59 P.M. Eastern Time on Thursday, May 7, 2026. Even if you plan to attend the Annual Meeting, we recommend that you also submit your proxy card or vote on the internet or by telephone by the applicable deadline so that your vote will be counted if you later decide not to attend the Annual Meeting.

You will be able to vote your shares at the Annual Meeting if you attend in person.

If you vote by internet or telephone or return your signed proxy card or voting instruction form, your shares will be voted as you indicate. If you do not indicate how your shares are to be voted on a proposal, if you are a holder of record your shares will be voted, with respect to that proposal, in accordance with the voting recommendations of the Board.

*VOTING AS A BENEFICIAL OWNER*

As the beneficial owner, you have the right to direct your broker, bank, or other nominee on how to vote the shares in your account. You should follow the voting instructions provided by your broker, bank, or other nominee. You will receive, or be provided access to, proxy materials and voting instructions for each account that you have with a broker, bank, or other nominee. If you wish to change the voting instructions that you provided your broker, bank, or other nominee, you should follow the instructions from your broker, bank, or other nominee.

If your shares are held in a brokerage account in your broker's name (also known as "street name"), you should follow the instructions for voting provided by your broker or nominee. You may submit voting instructions by internet or telephone or you may complete and mail a voting instruction card to your broker or nominee. If you provide specific voting instructions by telephone, internet or mail, your broker or nominee will vote your shares as you have directed.

**Q: Can I revoke or change my vote after I deliver my proxy?**

A: Yes. If you are a shareholder of record, you can change your vote or revoke your proxy at any time prior to the voting thereof at the Annual Meeting by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Submitting a valid, later-dated proxy card or voting instruction form;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Submitting a valid, subsequent vote by telephone or the internet at any time prior to 11:59 P.M. Eastern Time on Thursday, May 7, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Notifying our Corporate Secretary in writing that you have revoked your proxy; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Voting in person at the Annual Meeting (your attendance at the Annual Meeting will not, in and of itself, revoke your prior proxy).

If your shares are held in a brokerage account in your broker's name, you should follow the instructions for changing or revoking your vote provided by your broker or nominee.

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**Q: Is cumulative voting permitted for the election of directors?**

A: You have the right to cumulate your votes by distributing a number of votes, determined by multiplying the number of directors to be elected at the Annual Meeting (i.e., two) by the number of your shares as of the close of business on the Record Date, to one individual nominee or among two or more nominees. Unless contrary instructions are provided on the enclosed proxy card or voting instruction form, the persons named as proxies may cast all of their votes "For" or "Withhold" with respect to the nominees or may allocate the votes among the nominees in accordance with their discretion.

**Q: What happens if I do not specify how I want my shares voted? What is discretionary voting? What is a broker non-vote?**

A: As a shareholder as of the close of business on the Record Date, if you properly complete, sign, date and return a proxy card or voting instruction form, your shares of Common Stock will be voted as you specify. However, if you are a shareholder of record and you return an executed proxy card or submit your proxy by telephone or internet and do not specify how you want your shares voted, the persons named as proxies will vote your shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**FOR** the election of Mr. J. Brett McBrayer and Mr. Darrell L. McNair to serve as directors for a term that expires in 2029;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**FOR** the Say-on-Pay Proposal; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**FOR** the BDO Ratification Proposal.

A "broker non-vote" occurs when a broker holding shares for a beneficial owner has not received voting instructions from the beneficial owner and the broker does not have discretionary authority to vote the shares. If you own your shares beneficially in street name through a broker and do not provide voting instructions to your broker, your shares will be considered to be broker non-votes and will not be voted on any proposal on which your broker does not have discretionary authority to vote.

**Q: How many shares must be present to conduct business at the Annual Meeting?**

A: Holders of at least a majority of the votes that all shareholders are entitled to cast at the Annual Meeting must be represented in person or by proxy at the Annual Meeting in order to conduct business. This is called a quorum. If you vote, your shares will be part of the quorum. Abstentions, withheld votes, and broker-non-votes will be counted in determining whether a quorum exists.

The judge of election will determine whether a quorum is present. At the close of business on March 12, 2026, there were 20,326,389 shares of our Common Stock issued and outstanding. Shares are counted as present at the Annual Meeting if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•you attend the Annual Meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•your shares are represented by a properly authorized and submitted proxy (submitted over the internet, by telephone or by mail).

If you are a record holder and you submit your proxy, regardless of whether you abstain from voting on one or more matters, your shares will be counted as present at the Annual Meeting for the purpose of determining a quorum. If your shares are held in "street name," your shares are counted as present for purposes of determining a quorum if you provide voting instructions to your broker, bank, trustee or other nominee and such broker, bank, trustee or other nominee submits a proxy covering your shares. If a quorum is not present, in person or by proxy, at a meeting of shareholders, those present may adjourn from time to time to reconvene at such date, time and place as they may determine.

**Q: What is the effect of abstentions and broker non-votes on voting?**

A: Abstentions will be counted as present at the Annual Meeting for the purpose of determining a quorum. Because the number of director nominees does not exceed the number of seats to be elected, each director nominee who receives any "FOR" votes will be elected; accordingly "withhold" votes and abstentions will have no effect on the outcome of Proposal 1. To approve the Say-on-Pay Proposal and the BDO Ratification Proposal, if a quorum is present, the affirmative vote of a majority of the votes cast by all shareholders entitled to vote on a particular matter is required for approval. As a result, abstention votes will have no effect on the outcome of the Say-on-Pay Proposal and BDO Ratification Proposal.

A broker non-vote occurs when the broker is unable to vote on a proposal because the proposal is not routine and the shareholder who owns the shares in "street name" has not provided any voting instructions to the broker on that matter. The rules of the NYSE apply to brokers that are NYSE members voting on matters being submitted to shareholders at the Annual

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Meeting. Under the rules of the NYSE, if a proposal is routine, a broker holding shares for an owner in street name may vote on the proposal without voting instructions. As a result, other than with respect to the BDO Ratification Proposal, brokers are not entitled to vote on any of the proposals at the Annual Meeting without receiving voting instructions from the beneficial owners. Broker non-votes will have no effect on the outcome of Proposals 1 or 2. If you do not provide voting instructions to your broker holding shares of Common Stock for you, your shares will not be voted with respect to any proposal. We therefore encourage you to provide voting instructions on a proxy card or the voting instruction form provided by the broker that holds your shares, in each case by carefully following the instructions provided.

**Q: What vote is required to approve the proposals?**

A: *ELECTION OF DIRECTORS*: Pursuant to our Bylaws, if a quorum is present at the Annual Meeting, with respect to Proposal 1 – "Election of Directors", directors will be elected by a plurality of the votes cast by shares present in person or by proxy and entitled to vote at the Annual Meeting. "Plurality" means that the two nominees who receive the largest number of "FOR" votes of the shares entitled to be voted in the election for directors will be elected, whether or not they received a majority of votes cast. You may vote "FOR" all Board nominees, "WITHHOLD" your vote as to all Board nominees, or "FOR ALL" Board nominees except the specific nominee from whom you "WITHHOLD" your vote. There is no "against" option. Shares voting "withhold" are counted for purposes of determining a quorum. **However, if you withhold authority to vote with respect to the election of any or all of the nominees, your shares will not be voted with respect to those nominees indicated. Therefore, "withhold" votes will not affect the outcome of the election of directors. Brokers do not have discretionary authority to vote on the election of directors. Broker non-votes and "withhold votes" will have no effect on the outcome of Proposal 1.**

*Say-on-Pay Proposal*: The approval of a non-binding, advisory resolution approving the compensation of our named executive officers requires the affirmative vote by the holders of a majority of the votes cast by all shareholders entitled to vote on the proposal at the Annual Meeting when a quorum is present. You may vote "FOR," "AGAINST" or "ABSTAIN." If you "ABSTAIN" from voting on Proposal 2, the abstention will have no effect on the outcome of the Say-on-Pay Proposal. Broker non-votes will have no effect on the outcome of the Say-on-Pay Proposal. While the vote on the Say-on-Pay Proposal is advisory and will not be binding on us or the Board, the Board will review the results of the voting on this proposal and take them into consideration when making future decisions regarding executive compensation as we have done in this and previous years.

*BDO Ratification Proposal*: The ratification of the appointment of BDO requires the affirmative vote by the holders of a majority of the votes cast by all shareholders entitled to vote on the proposal at the Annual Meeting when a quorum is present. You may vote "FOR," "AGAINST" or "ABSTAIN." If you "ABSTAIN" from voting on Proposal 3, the abstention will have no effect on the outcome of the BDO Ratification Proposal.

Votes will be tabulated by a judge of election appointed for the Annual Meeting, who will separately tabulate affirmative and negative votes, abstentions and broker non-votes.

**Q: Could other matters be decided at the Annual Meeting?**

A: We do not expect any other items of business will be presented for consideration at the Annual Meeting other than those described in this Proxy Statement. However, by completing, signing, dating and returning a proxy card or submitting your proxy or voting instructions over the internet or by telephone, you will give to the persons named as proxies discretionary voting authority with respect to any matter that may properly come before the Annual Meeting, and of which we did not have notice at least by February 7, 2026, which is 90 days before the anniversary date of our 2025 Annual Meeting of Shareholders, and such persons named as proxies intend to vote on any such other matter in accordance with their best judgment.

**Q: Who will count the votes?**

A: All votes will be tabulated as required by Pennsylvania law, the state of our incorporation, by the judge of election appointed for the Annual Meeting, who will separately tabulate affirmative and negative votes, abstentions and broker non-votes. Shares held by persons attending the Annual Meeting but not voting and shares represented by proxies that reflect abstentions as to one or more proposals will be counted as present for purposes of determining a quorum. Broker non-votes will not be counted as present for purposes of determining a quorum.

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**Q: Why did I receive a one-page notice in the mail regarding the internet availability of proxy materials instead of a full set of proxy materials?**

A: Pursuant to rules adopted by the SEC, we are using the internet as the primary means of furnishing proxy materials to shareholders. Accordingly, we are sending a Notice of Availability to our shareholders. All shareholders will have the ability to access the proxy materials on the website referred to in the Notice of Availability or request a printed set of the proxy materials. Instructions on how to access the proxy materials over the internet or to request a printed copy may be found in the Notice of Availability. In addition, shareholders may request to receive proxy materials in printed form by mail or electronically by email on an ongoing basis. We encourage shareholders to take advantage of the availability of the proxy materials on the internet to help reduce the environmental impact of our annual meetings.

**Q: How do I obtain a copy of Ampco's Annual Report?**

A: The Corporation's 2025 Annual Report to Shareholders, including the Annual Report for the fiscal year ended December 31, 2025 as filed with the SEC, are available at <u>http://www.ampcopgh.com/investors</u>. Copies of the exhibits to the 2025 Annual Report will also be provided upon written request to Ampco-Pittsburgh Corporation c/o Corporate Secretary at 726 Bell Avenue, Suite 301, P.O. Box 457, Carnegie, PA 15106, free of charge. Copies of the 2025 Annual Report and exhibits may also be viewed and downloaded at no cost from the SEC's website at <u>www.sec.gov</u>. The 2025 Annual Report does not form any part of the material for soliciting proxies.

**Q: Where can I find the voting results of the Annual Meeting?**

A: We plan to announce preliminary voting results at the Annual Meeting and to publish final results in a Current Report on Form 8-K filed with the SEC within four business days after the Annual Meeting.

**THE BOARD UNANIMOUSLY RECOMMENDS VOTING "FOR" THE ELECTION OF BOTH OF THE BOARD'S NOMINEES ON PROPOSAL 1, "FOR" PROPOSAL 2 AND "FOR" PROPOSAL 3.** 

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# ELECTION OF DIRECTORS
**(Proposal 1)**

As of the date of this Proxy Statement, Ampco's Board comprises eight members divided into the following three classes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Class of 2026: Mr. James J. Abel and Mr. Darrell L. McNair;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Class of 2027: Ms. Elizabeth A. Fessenden, Mr. Michael I. German and Mr. J. Brett McBrayer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Class of 2028: Mr. Robert A. DeMichiei, Mr. William K. Lieberman and Dr. Laurence E. Paul.

Mr. Abel's term will end at the Annual Meeting at which point he will not be re-nominated for an additional term, and he will retire from the Board after eleven years of service to Ampco-Pittsburgh. The Board and management of the Corporation express their sincerest gratitude to Mr. Abel for his service on the Board. In connection with Mr. Abel's retirement, the Board reduced the number of director seats to seven, and re-balanced the director classes to make them as nearly equal as possible to be effective following the Annual Meeting and has nominated Mr. McBrayer to stand for re-election for a three-year term expiring in 2029.

Directors are elected for three-year terms. The terms for each class end in successive years. The Board, upon the recommendation of the Nominating and Governance Committee, has nominated two incumbent directors to stand for re-election for a three-year term expiring in 2029: Mr. J. Brett McBrayer and Mr. Darrell L. McNair.

Mr. McBrayer was most recently elected by the shareholders at the 2024 Annual Meeting of Shareholders, and Mr. McNair was most recently elected by the shareholders at the 2023 Annual Meeting of Shareholders.

The Board has determined that Mr. McNair qualifies as an independent director under NYSE corporate governance listing standards. Mr. McBrayer, who is the Corporation's Chief Executive Officer, is not independent under such standards.

If any of the Board's nominees are unable to serve or for good cause will not serve as a director, the Board may choose a substitute nominee. If any substitute nominees are designated, we will file an amended proxy statement that, as applicable, identifies the substitute nominees, discloses that such nominees have consented to being named in the revised proxy statement and to serve if elected, and includes certain biographical and other information about such nominees required by SEC rules. The persons named as proxies will vote for the remaining nominees and substitute nominees chosen by the Board.

**Vote Required**

Directors will be elected by a plurality of the votes cast. "Plurality" means that the two nominees who receive the largest number of "FOR" votes of the shares entitled to be voted in the election for directors will be elected. Votes that are withheld or shares that are not voted, including broker non-votes, will have no effect on the outcome of the election of directors.

**THE BOARD RECOMMENDS THAT YOU VOTE FOR THE ELECTION OF BOTH OF MR. J. BRETT MCBRAYER AND MR. DARRELL L. MCNAIR.**

# Summary of Director A ttributes and Skills
Our Board nominees and continuing directors have a diversity of experience that spans a broad range of industries and in the public and not-for-profit sectors. They bring to our Board a wide variety of skills, qualifications and viewpoints that strengthen the Board's ability to carry out the Board's oversight role on behalf of our shareholders. In the biographies for our Board nominees and continuing directors below, we describe certain areas of individual expertise that each director brings to our Board.

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The table below is a summary of the range of skills and experiences that each continuing director and nominee brings to the Board. Because it is a summary, it does not include all of the skills, experiences, qualifications, and diversity that each director offers, and the fact that a particular experience, skill, or qualification is not listed does not mean that a director does not possess it.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **DeMichiei** | **Fessenden** | **German** | **Lieberman** | **McBrayer** | **McNair** | **L. Paul** |
| **Year of Joining Board** | 2022 | 2017 | 2014 | 2004 | 2018 | 2022 | 2022 |
| **<u>Experience</u>:** |  |  |  |  |  |  |  |
| **Finance** | X | X | X | X | X | X | X |
| **Industry** |  | X | X |  | X | X | X |
| **International** | X | X |  |  | X | X | X |
| **Leadership** | X | X | X | X | X | X | X |
| **Public Company Board** | X | X | X | X | X | X | X |
| **Risk Management** | X | X | X | X | X | X | X |
| **Technology** | X | X |  |  | X | X |  |

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**Board Nominees**

***Nominees for Director Whose Term of Office Expires in 2029*:** 

**J. BRETT MCBRAYER** 

**Director Since:** 2018

**Age at the Annual Meeting:** 60

**Committees:** Executive Committee

**Career Highlights and Qualifications**: Mr. McBrayer has served as the Corporation's Chief Executive Officer since July 2018. He previously served as President and Chief Executive Officer at Airtex Products and ASC Industries, a global manufacturer and distributor of automotive aftermarket and original equipment manufacturer fuel and water pumps, from 2012 through 2017. Airtex Products and ASC Industries, together with its parent company, UCI International LLC, and affiliated companies filed for bankruptcy protection in June 2016, successfully emerging in December 2016. Mr. McBrayer had also served as Vice President and General Manager of the Alcan Cable business at Rio Tinto Alcan, as Vice President and General Manager of the Specialty Metals Division at Precision Cast Parts Corporation, and held positions of various responsibility and leadership during his 20 years with Alcoa, Inc. (NYSE: AA) Mr. McBrayer received a Bachelor of Science in Industrial Engineering from the University of Tennessee and a Master of Arts in Applied Behavioral Science from Bastyr University.

**Attributes and Skills**: Mr. McBrayer's extensive experience in global industrial businesses and his broad executive leadership experience led the Board to conclude that he should serve as a director.

**DARRELL L. MCNAIR**

**Director Since:** 2022

**Age at the Annual Meeting:** 63

**Committees:** Compensation Committee and Nominating and Governance Committee

**Career Highlights and Qualifications**: Mr. McNair is currently the President and Chief Executive Officer of the MVP Group of Companies, a privately held group of companies which provide injection molding services, mechanical design engineering services and distribution of foam products to the automotive, medical, industrial, recreational industries and all five branches of the military, since 2000. Previously, Mr. McNair was Executive Director and a member of the board of directors of Detroit Neighborhood & Family Initiative, a non-profit organization sponsored by the Ford Foundation & Southeast Foundation serving various communities in the Detroit area, from 1999 to 2000; Owner & Chief Executive Officer for GERIC Home Health Care, Inc., a home health care organization serving residents in southeast Michigan, from 1996 to 1999; and held various positions at the Ford Motor Company (NYSE: F), an automotive company that designs, manufactures, and markets Ford vehicles worldwide, from 1988 to 1996. Mr. McNair began his career at International Business Machines Corporation ("IBM"). Mr. McNair is also currently a member of the board of directors of Medical Mutual of Ohio, the largest health insurance company based in Cleveland, Ohio, since May 2020. Mr. McNair received his M.B.A. in finance and marketing from Baldwin Wallace University and his B.G.S. in political science from Kent State University.

**Other Current Affiliations:** Mr. McNair is a board member, trustee and counsel to a number of civic and community organizations, including the Cleveland/Cuyahoga County Port Authority, The President's Council, the Minority Business

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Financing Advisory Board, University Hospital, Northeast Ohio Medical University, ECM Chemicals, the Greater Cleveland Sports Commission, Crain's Business Diversity Council, the Cleveland Federal Reserve Local Advisory Council and Jumpstart.

**Attributes and Skills**: With corporate experience at IBM and Ford, Mr. McNair also acquired businesses in the home health care and medical supply, construction, and retail industries throughout his entrepreneurial career. In addition, Mr. McNair has a passion for working with small businesses and mentoring young African males. Professional and personal accomplishments include high level civic engagement, geographic business expansion, peer recognition for humanitarian activities and Black Professional of The Year. Pursuant to the Corporation's obligations under the Cooperation Agreement, the Board concluded that he should serve as a director.

***Continuing Directors Whose Term of Office Expires in 2028*:**

**ROBERT A. DEMICHIEI**

**Director Since:** 2022

**Age at the Annual Meeting:** 61

**Committees:** Audit Committee (Chair), Executive Committee and Nominating and Governance Committee

**Career Highlights and Qualifications**: Mr. DeMichiei is the retired Executive Vice President and Chief Financial Officer of UPMC, a $20B+ nonprofit health system and leading health care provider and insurer, where he served from May 2004 to January 2020. During his time at UPMC, Mr. DeMichiei implemented best practices in controllership, with UPMC achieving voluntary SOX 404 certification in 2006. He also led UPMC's activity-based costing/service-line implementation and Consumerism initiatives. In addition to Finance, Mr. DeMichiei led the Supply Chain Management and Revenue Cycle functions, driving integration, technology infusion and process improvement/efficiency throughout the organization. Mr. DeMichiei's teams created a number of healthcare technology solutions, three of which were commercialized and spun-off. Before his 16-year tenure at UPMC, Mr. DeMichiei held various roles of increasing responsibility with the General Electric Company and Price Waterhouse in Pittsburgh. Mr. DeMichiei has a Bachelor's degree in Business Economics from the University of Pittsburgh.

**Other Current Public Company Directorships:** Ardent Health and Waystar, Inc.

**Other Current Affiliations**: Mr. DeMichiei was appointed to the board of directors of Ardent Health (NYSE: ARDT) in April 2025, and serves on the audit and nominating and corporate governance committees. He also serves as a director for Waystar, Inc. (NASDAQ: WAY), where he is the audit, compliance and risk committee chair, and AAA, Inc./ACSC Management Services, Inc./Automobile Club of Southern California. He has served as a Strategic Advisor for Health Catalyst (NASDAQ: HCAT) since January 2020. He has also served as a Strategic Advisor for Omega Healthcare Management Services since April 2021. Additionally, Mr. DeMichiei serves on the board of directors and was formerly board chair and finance committee chair of the United Way of Southwestern Pennsylvania. He is also on the board of trustees at Seton Hill University, where he is the chair of the finance committee, and the board of directors of the Advanced Leadership Institute, where he is the treasurer and chair of the finance and investment committee.

**Previous Directorships**: Mr. DeMichiei served on the board of directors of CombineNet from 2008 to 2010, and Prodigo Solutions from 2008 to 2019.

**Attributes and Skills**: Mr. DeMichiei's diverse operational background and experience successfully leading companies through growth and complex change led the Board to conclude that he should serve as a director.

**WILLIAM K. LIEBERMAN** 

**Director Since:** 2004

**Age at the Annual Meeting:** 79

**Committees:** Nominating and Governance Committee (Chair), Compensation Committee and Executive Committee

**Career Highlights and Qualifications**: Mr. Lieberman has been President of The Lieberman Companies, insurance brokerage and consulting company since May 2015. Prior to that, he held positions at AON and Hilb, Rogal, and Hobbs.

**Attributes and Skills**: In addition to more than fifty years of management experience in the insurance, benefit and risk management areas, Mr. Lieberman has served as a past chairman of the Pennsylvania Turnpike Commission, and has served as a director or trustee of several organizations including charitable companies, hospitals and universities. These qualifications led the Board to conclude that he should serve as a director.

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**DR. LAURENCE E. PAUL**

**Director Since:** 2022; Previously served as Director from 1998-2018

**Age at the Annual Meeting:** 61

**Committees:** Executive Committee (Chair)

**Career Highlights and Qualifications**: Dr. Paul has been a managing principal of Laurel Crown Partners, a private investment company, since July 2002. From 1994 to 2001, Dr. Paul worked at Donaldson, Lufkin & Jenrette and then Credit Suisse (NYSE: CS) in investment banking, including as a managing director in the Investment Banking Division. He became a President of The Louis Berkman Investment Company, a private investment company, in 2013. Dr. Paul holds an A.B. in biology from Harvard College, an M.D. from Harvard Medical School and an MBA from Stanford Business School.

**Other Current and Prior Affiliations:** Dr. Paul is currently a member of the board of directors for several non-profit organizations and portfolio companies including: Harvard Medical School's Board of Fellows, Harvard Alumni Association, Children's Hospital of Los Angeles, Pittsburgh Steelers Sports, Inc., Pro Football Hall of Fame, Crew Knitwear, and Vereco. From 2006 to 2017, Dr. Paul was a member of the board of governors of the American Red Cross, during which time he served in many roles including vice chair of the board and chair of the audit committee.

***Continuing Directors Whose Term of Office Expires in 2027:***

**ELIZABETH A. FESSENDEN** 

**Director Since:** 2017

**Age at the Annual Meeting:** 71

**Committees:** Compensation Committee (Chair), Executive Committee

**Career Highlights and Qualifications**: Prior to her retirement, Ms. Fessenden spent nearly three decades in corporate leadership roles at Alcoa Inc. ("Alcoa"), including as president of the flexible packaging division and president of primary metals allied businesses. She also served in a number of operations roles with Alcoa. From 2006-2008, she was an operations principal with a private equity firm. Since 2008, she has been the principal of Fessenden Associates, a business consulting company. Ms. Fessenden earned Bachelor's and Master's degrees in engineering as well as a Master's degree in business administration, all from Clarkson University.

**Other Current Public Company Directorships:** Fluence Energy

**Other Current Affiliations**: Ms. Fessenden was appointed to the board of directors of Fluence Energy (NASDAQ: FLNC) in October 2021. She also serves on the board of directors of Plan International, USA, a global girls' rights organization.

**Previous Directorships**: Ms. Fessenden was a member of the board of directors of Alpha Metallurgical Resources (NYSE: AMR) from February 2021 through February 2024. She served as a director of Meritor (NYSE: MTOR) from June 2021 to August 2022. Additionally, she served as director of Quarles Petroleum from 2015 to 2021. Ms. Fessenden also served as a director of Cardno (ASX: CDD), from 2014 to 2015 and of O'Brien & Gere, from 2008 to 2014. Ms. Fessenden also served on the advisory board of Alloy Polymers and the board of directors of Polymer Group Inc. (OTC: POLGA).

**Attributes and Skills**: Ms. Fessenden's extensive operations experience in the metals industry, her many years of service as a director of companies, and her broad leadership experience led the Board to conclude that she should serve as a director.

**MICHAEL I. GERMAN**

**Director Since:** 2014

**Age at the Annual Meeting:** 75

**Committees:** Audit Committee

**Career Highlights and Qualifications**: Prior to his retirement effective June 1, 2025, Mr. German served as the Chief Executive Officer and President of Corning Energy Corporation, a natural gas and electric utilities company (formerly known as Corning Natural Gas Holding Corporation and Corning Natural Gas Corporation). Mr. German also served as president of Corning Natural Gas Appliance Corporation, Pike County Light & Power Company ("Pike"), and Corning Natural Gas's joint venture investments, Leatherstocking Gas Company, LLC ("Leatherstocking Gas") and Leatherstocking Pipeline Company, LLC ("Leatherstocking Pipeline"). Prior to joining Corning Natural Gas Corporation in 2006, he was senior vice president, utility operations for Southern Union Company where he was responsible for gas utility operations in Missouri, Pennsylvania, Rhode Island, and Massachusetts. From 1994 to 2005, Mr. German held several senior positions at Energy East Corporation, a publicly held energy services and delivery company, including president of several utilities. From 1978 to 1994, Mr. German worked at the American Gas Association, finishing as senior vice president. From 1976 to 1978, Mr. German worked for the US Energy Research and Development Administration. Mr. German received a Bachelor of Arts in History from Trinity

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College, a Masters of Business Administration from Columbia University and a Juris Doctorate from Boston University Law School.

**Other Current Affiliations**: Mr. German serves on the board of trustees of the Adirondack Park Institute.

**Previous Directorships**: Mr. German served as a director of Corning Natural Gas Holding Corporation from 2014 until his retirement in June 2025 (and a director of Corning Natural Gas Corporation from 2006 to 2014). He also served on the boards of directors of Leatherstocking Gas, Leatherstocking Pipeline, Pike, Three River Development Corporation and Northeast Gas Association. Mr. German served as a director of Pennichuck Corporation from 2008 until 2011.

**Attributes and Skills**: Mr. German's experience as the chief executive officer of a public company, his many years of service as a director of companies and his broad leadership experience led the Board to conclude that he should serve as a director.

**Process of Evaluation of Director Candidates**

The Nominating and Governance Committee makes a preliminary review of a prospective candidate's background, career experience and qualifications based on available information or information provided by an independent search firm which identifies or provides an assessment of a candidate or a shareholder nominating or suggesting a candidate. If a consensus is reached by the committee that a particular candidate would likely contribute positively to the Board's mix of skills and experiences, and a Board vacancy exists or is likely to occur, the candidate is contacted to confirm his or her interest and willingness to serve. The committee conducts interviews and may invite other Board members or senior Ampco executives to interview the candidate to assess the candidate's overall qualifications. The committee considers the candidate against the criteria it has adopted in the context of the Board's then current composition and the needs of the Board and its committees.

Upon completion of this process, the committee reaches a conclusion and reports the results of its review to the full Board. The report includes a recommendation whether the candidate should be nominated for election to the Board. This procedure is the same for all candidates, including director candidates identified by shareholders.

The Nominating and Governance Committee may retain the services of a search firm that specializes in identifying and evaluating director candidates. Services that may be provided by the search firm include identifying potential director candidates meeting criteria established by the committee, verifying information about the prospective candidate's credentials, and obtaining a preliminary indication of interest and willingness to serve as a Board member.

Upon the recommendation of the Nominating and Governance Committee, the Board nominated each of Mr. McBrayer and Mr. McNair for election to a three-year term as director by the shareholders at the Annual Meeting.

# Director Co mpensation
Our non-employee director compensation program is designed to attract and retain outstanding director candidates who have the requisite experience and background as set forth in our Corporate Governance Guidelines, and to recognize the substantial time and effort necessary to exercise oversight of a complex organization like Ampco and fulfill the other responsibilities required of our directors. Mr. McBrayer, our sole employee director, does not receive additional compensation for his Board service.

The Compensation Committee reviews director compensation periodically, but at least once every three years, and recommends changes to the Board when it deems appropriate. The Compensation Committee regularly engages an independent compensation consultant, Pay Governance LLC, to advise the committee with respect to our director compensation program. In connection with its review, Pay Governance LLC assesses the structure of our director compensation program compared to competitive market practices of similarly situated companies. Based on the market information and recommendations provided to the Compensation Committee by Pay Governance LLC, the committee recommended and the Board approved, the Ampco-Pittsburgh Corporation's Non-Employee Director Compensation Policy (the "Policy") effective May 1, 2022 more fully described below.

# Directo r Fees
In 2025, each director who was not employed by the Corporation received an annual retainer of $50,000, payable quarterly in cash in equal installments. Under the Policy, a non-employee director may elect to receive 100% of the value of the annual retainer in equity in lieu of the cash retainer. No director elected to receive equity in lieu of the cash retainer in 2025. The Board Chair received an additional $60,000 fee, the Chair of the Audit Committee received an additional $15,000 annual fee, the Chair of the Compensation Committee received an additional $10,000 fee, the Chair of the Nominating and Governance Committee received an additional $7,500 fee, and previously, the Chair of the Finance and Investment Committee received an additional $7,500 fee. Further, members of Board committees received the following additional fees in lieu of per

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meeting fees: $7,500 for the Audit Committee, $5,000 for the Compensation Committee, $3,750 for the Nominating and Governance Committee and previously, $3,750 for the Finance and Investment Committee. In May 2025, the Board determined to discontinue the Finance and Investment Committee. Directors do not receive additional meeting fees for Board or committee meetings.

Each non-employee director is also entitled to receive an annual stock award. Under our non-employee director compensation program, this annual stock award is supposed to be valued at $70,000 and is usually based on the closing price of our Common Stock on grant date. The Compensation Committee determined the number of shares of Common Stock subject to the 2025 annual stock award based on a per share price of $5.50, rather than $2.26, the closing price of our Common Stock on the date of grant. This resulted in our non-employee directors receiving an annual stock award worth $28,765 as of the grant date, representing approximately 59% fewer shares and corresponding grant value than that which would have been granted had the Compensation Committee used the closing price of our Common Stock on the date of grant, generally consistent with historical practice. This was the third consecutive year and four years in the last six years in which the Committee has reduced the number of shares granted to our non-employee directors based on a per share price calculation at a higher price than the closing price of Common Stock on the date of grant. The shares of restricted stock vest on the one-year anniversary of the grant date.

The following table describes the components of compensation for non-employee directors:

---

| | |
|:---|:---|
| **<u>Annual Compensation Element</u>** | **2025 Amount ($)** |
| Cash Retainer for Non-employee Directors | 50000 |
| Annual Equity Award Target for Non-employee Directors | 70000 |
| Other Annual Cash Fees: |  |
| &nbsp;&nbsp;&nbsp;Board Chair Fee | 60000 |
| &nbsp;&nbsp;&nbsp;Audit Committee Chair Fee (including Audit Committee Member Fee) | 15000 |
| &nbsp;&nbsp;&nbsp;Audit Committee Member Fee | 7500 |
| &nbsp;&nbsp;&nbsp;Compensation Committee Chair Fee (including Compensation<br> Committee Member Fee) | 10000 |
| &nbsp;&nbsp;&nbsp;Compensation Committee Member Fee | 5000 |
| &nbsp;&nbsp;&nbsp;Nominating and Governance Committee Chair Fee (including<br> Nominating and Governance Committee Member Fee) | 7500 |
| &nbsp;&nbsp;&nbsp;Nominating and Governance Committee Member Fee | 3750 |
| &nbsp;&nbsp;&nbsp;Finance and Investment Committee Chair Fee (including Finance<br> and Investment Committee Member Fee)\* | 7500 |
| &nbsp;&nbsp;&nbsp;Finance and Investment Committee Member Fee\* | 3750 |

---

\*In May 2025, the Board determined to discontinue the Finance and Investment Committee.

## 2025 Director Compensation
The table below summarizes the director compensation earned by non-employee directors of the Corporation in 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Fees Earned<br>or Paid in<br>Cash($)(1)** | **Stock Awards<br>($)(2)** | **Other<br>Compensation<br>($)** | **Total ($)** |
| James J. Abel | 77187 | 28765 |  | 105952 |
| Robert A. DeMichiei | 68750 | 28765 |  | 97515 |
| Fredrick D. DiSanto (3) | 20156 |  |  | 20156 |
| Elizabeth A. Fessenden | 61406 | 28765 |  | 90171 |
| Michael I. German | 60312 | 28765 |  | 89077 |
| William K. Lieberman | 62500 | 28765 |  | 91265 |
| Darrell L. McNair | 56875 | 28765 |  | 85640 |
| Laurence E. Paul | 91718 | 28765 |  | 120483 |
| Stephen E. Paul (3) | 22031 |  |  | 22031 |

---

(1)This column reflects annual cash retainer fees, including committee chair fees, as well as committee membership fees paid to each listed director.

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(2)This column reflects the aggregate grant date fair value, determined in accordance with FASB ASC Topic 718, of the stock awards granted to directors. The assumptions made in calculating the grant date fair values are set forth in Note 18 to our consolidated financial statements included in our Annual Report for the year ended December 31, 2025. For a discussion of the annual stock award to our directors, see "Director Fees" above.

(3)As previously disclosed, Mr. DiSanto and Mr. Paul stepped down from the Board on May 15, 2025. As such, the amounts for each of Mr. DiSanto and Mr. Paul reflect fees earned during 2025 through such date.

## Directors' Alignment with Shareho lders; Stock Ownership Guidelines
We have a long-standing approach of compensating executive officers and directors in part with stock awards and encouraging retention of stock acquired through such awards or by market purchases. We believe retention of stock creates a long-term perspective and aligns the interests of our directors and executive officers with those of our shareholders.

In 2020, the Board, upon the recommendation of the Compensation Committee, adopted new Stock Ownership Policy Guidelines requiring, among other things, non-employee Directors to hold stock at a target level of three times their annual cash retainer, or $150,000 for 2025.

Directors who were not in compliance with the ownership value requirement were not permitted to sell or transfer more than 50% of shares issued as part of the Corporation's annual equity award for non-employee directors.

The following table shows the value of each non-employee director's holdings in Ampco Common Stock as of March 12, 2026, based on the closing price of our Common Stock on NYSE on that date.

---

| | | | |
|:---|:---|:---|:---|
| **Non-employee Directors** | **Number of<br>Shares<br>Held (1)** | **Value of<br>Shares<br>Held ($)** | **Ownership in<br>Excess of<br>Required<br>Amount** |
| James J. Abel | 150546 | 1323299 | X |
| Robert A. DeMichiei | 78185 | 687246 | X |
| Elizabeth A. Fessenden | 119330 | 1048911 | X |
| Michael I. German | 231670 | 2036379 | X |
| William K. Lieberman | 75912 | 667266 | X |
| Darrell J. McNair | 70552 | 620152 | X |
| Laurence E. Paul | 84368 | 741595 | X |

---

(1)The number of shares held reflected in this column include stock owned directly or in revocable trust, stock owned jointly with, or separately, by a spouse and/or minor child, unvested restricted stock awards. conditions.

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# CORPORATE GOVERNANCE

## Corporate Gover nance Summary
Presented below are some highlights of our corporate governance practices and policies. You can find further details about these and other corporate governance practices and policies in the following pages of this Proxy Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our Board is currently comprised of eight directors, seven of whom have been determined by the Board to be independent. As previously discussed, Mr. Abel's term will end at the Annual Meeting, at which point he will not be re-nominated for an additional term, and he will retire from the Board after eleven years of service to the Corporation. In connection with Mr. Abel's retirement, following the Annual Meeting, the number of director seats will be reduced to seven, six of whom have been determined by the Board to be independent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board has adopted Corporate Governance Guidelines which cover a wide range of subjects, such as the role of the Board and its responsibilities, operations and committees, director qualifications, director compensation, Board and management evaluation and succession planning and director orientation and continued education. The Corporate Governance Guidelines, as well as the charters of the Board's Audit, Compensation and Nominating and Governance Committees, and also, the Corporation's Code of Business Conduct and Ethics for directors, officers and employees are available on the Corporation's website at <u>www.ampcopgh.com</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We currently have separate non-executive Board Chair and Chief Executive Officer roles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•All of the Board's standing committees, other than the Executive Committee, are composed entirely of independent directors, and each such standing committee has a written charter that is reviewed and reassessed annually.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our Board oversees the Corporation's risk management function, which covers, among other things, financial risk, legal/compliance risk, operational/strategic risk, reputational risk, emerging risk, cybersecurity risk and fraud risk, and utilizes key insights from the Audit Committee, Compensation Committee and Nominating and Governance Committee. In December 2023, the Corporation formed the Cybersecurity Materiality Assessment Team, a multi-disciplinary committee consisting of our senior managers in operations, financing/accounting, information technology and risk management/human resources, which manages disclosure with respect to cybersecurity risk under the oversight of the Audit Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board routinely meets in executive session, both with the Corporation's Chief Executive Officer and with only the non-employee directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Nominating and Governance Committee periodically reviews qualifications for directors to our Board; in connection with an upcoming election of directors or vacancy on our Board, identifies candidates to serve as directors on the basis of such criteria; and recommends candidates to the Board for nomination on the basis of such criteria. The Nominating and Governance Committee and the Board consider director candidates recommended by shareholders on the same basis as other candidates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Bylaws allow shareholders to cumulate votes in the election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board annually reviews the Corporation's succession plans for Executives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We have an annual self-evaluation process for the Board and each standing committee, other than the Executive Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Our internal audit function reports directly to the Audit Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We annually ask our shareholders to ratify the Audit Committee's selection of the Corporation's independent auditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Since the inception of the shareholder advisory vote regarding Say-on-Pay, the Corporation has allowed for such a vote annually and has received a favorable voting result each year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Corporation has adopted and maintains an Amended and Restated Insider Trading Policy (the "Insider Trading Policy") that governs transactions involving the Corporation's securities by its directors, executive officers and employees, and their respective related persons. The Insider Trading Policy requires directors, executive officers, and certain employees to consult with the Compliance Officer under the Insider Trading Policy prior to engaging in certain transactions involving the Company's securities. The Insider Trading Policy prohibits directors, officers

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and employees from hedging or short selling any of their Ampco securities or holding shares in a margin account. The Insider Trading Policy is designed to promote compliance with insider trading laws, rules and regulations and the NYSE listing standards that are applicable to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board adopted a clawback policy (the "Clawback Policy"), effective as of October 2, 2023, administered by the Compensation Committee, which applies to current and former executive officers of the Corporation as defined in Rule 10D-1 and participants in the Corporation's short- and long-term incentive compensation plans (each an "<u>Affected Person</u>"), promulgated under the Exchange Act. Under the Clawback Policy, if the Corporation is required to prepare an accounting restatement to correct the Corporation's material noncompliance with any financial reporting requirement under securities laws, including restatements that correct an error in previously issued financial statements that is material to the previously issued financial statements or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period (collectively, a "Restatement"), the Corporation is obligated to recover erroneously awarded incentive-based compensation received from the Corporation by Affected Persons. Further, the Clawback Policy authorizes the Corporation, in the event of a Restatement, to recoup other compensation, including equity awards vesting solely based on continued employment, from named executive officers serving in such capacity during the applicable period, as calculated by the Compensation Committee in its sole discretion. Under the Clawback Policy, each executive officer of the Corporation and each participant in our short- and long-term incentive compensation plans is also subject to the clawback of incentive-based compensation if (a) a Restatement is required as a result of any fraud or intentional misconduct by such person, or (b) the Compensation Committee determines in its discretion that a lower amount of incentive-based compensation would have been paid to such person, but for the error giving rise to the restatement giving such person erroneously awarded compensation as a result.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board has adopted a policy prohibiting excise tax gross-ups of perquisites pursuant to which the Corporation is prohibited from making any tax gross-up payments to executive officers, except for gross-ups applicable to management employees generally, such as a relocation reimbursement policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board has adopted a whistleblower policy to protect any employee who, in good faith, reports incidents of unethical business conduct, violations of laws or accounting standards, internal accounting controls or audit standards or public health and safety dangers to employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board has adopted Stock Ownership Policy Guidelines for the Corporation's Directors and Executive Officers ("D&Os") to align their interests with our shareholders and instill in our D&Os a meaningful economic interest in future performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Corporation has an active and responsive investor relations program. In addition to timely earnings reporting and regular public conference calls, the Corporation deploys strategies to communicate the Corporation's value proposition to the investment community. The firm also conducts investor outreach events, such as participation at independent investor conferences, non-deal roadshows, and other communications, providing an opportunity to engage with large groups of investors and prospective investors. The Corporation produces additional investor presentation materials supporting these events and makes them public via posting them to its investor relations website and/or filings with the SEC if and when appropriate.

## Board Ind ependence
The Board has adopted standards to assist it in evaluating the independence of its directors, which may be categorized as: (1) compliance with NYSE's listing requirements, (2) non-material relationships with the Corporation, and (3) other facts and circumstances. The standards are attached to the Corporate Governance Guidelines which are available on the Corporation's website at <u>www.ampcopgh.com</u>. After evaluating each director on the basis of these standards, the Board has determined that James J. Abel, Robert A. DeMichiei, Elizabeth A. Fessenden, Michael I. German, William K. Lieberman, Darrell L. McNair and Laurence E. Paul do not have material relationships with the Corporation (other than as members of the Board) and are independent within the meaning of the Corporation's independence standards and those of the NYSE.

Audit Committee members must meet additional independence standards under NYSE listing standards and rules of the SEC. Specifically, Audit Committee members may not receive any consulting, advisory or compensatory fees from the Corporation other than their directors' compensation. The Board has also determined that each member of the Audit Committee satisfies the enhanced standards of independence applicable to Audit Committee members under NYSE listing standards and SEC rules.

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## The Board has determined in its judgment that the Compensation Committee is composed entirely of independent directors within the Corporation's independence standards and those of the NYSE. In making its determination, the Board considered, among other things, the factors applicable to members of the Compensation Committee pursuant to NYSE listing standards and Rule 10C-1 of the Exchange Act.

## Leadership Structure
Mr. J. Brett McBrayer is the Corporation's Chief Executive Officer and is responsible for the day-to-day operation of the Corporation. Dr. Laurence E. Paul serves as non-executive Board Chair, and in such capacity presides at all meetings of our Board and serves as a conduit between the Board and management. The Board believes that this leadership structure is appropriate for the Corporation at this time because it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•allows for independent oversight of management,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•increases management accountability, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•encourages an objective evaluation of management's performance relative to compensation.

The Board will assess periodically whether the roles should be separated or combined based on its evaluation of what is in the best interests of the Corporation and its shareholders.

## Director Nomina ting Procedures
The Corporation's Corporate Governance Guidelines and its Nominating and Governance Committee Charter charge the Nominating and Governance Committee with selecting nominees for election to the Board and with reviewing, at least annually, the qualifications of new and existing members of the Board. The Nominating and Governance Committee also considers the extent to which such members may be considered "independent" within the meaning of applicable NYSE rules, as well as other appropriate factors, including overall skills and experience.

From time to time, the Nominating and Governance Committee will seek to identify potential candidates for director nominees and will consider potential candidates proposed by other members of the Board, by management of the Corporation or by shareholders of the Corporation.

In considering candidates submitted by shareholders of the Corporation, the Nominating and Governance Committee will take into consideration the needs of the Board and the candidate's qualifications. To have a candidate considered by the Nominating and Governance Committee, a shareholder must submit the recommendation in writing and must provide the information set forth in, and otherwise comply with, Section 17 of Article II of the Bylaws. Any notice of director nomination submitted to the Corporation must also comply with Rule 14a-19(b) of the Exchange Act.

The shareholder recommendation and information described above must be sent to Ampco-Pittsburgh Corporation c/o Corporate Secretary at 726 Bell Avenue, Suite 301, P.O. Box 457, Carnegie, PA 15106 and, in order to allow for timely consideration, must be received not less than 90 days in advance of the anniversary date of the Corporation's most recent annual meeting of shareholders.

Once a person has been identified by the Nominating and Governance Committee as a potential candidate, the Committee may review and consider publicly available information regarding the person to assess whether the person should be considered further. Generally, if the person expresses a willingness to be considered and to serve on the Board and the Nominating and Governance Committee believes that the candidate has the potential to be a good candidate, the Nominating and Governance Committee would seek to gather information from or about the candidate. Such information may include information gathered through one or more interviews as appropriate and review of his or her accomplishments and qualifications generally, in light of any other candidates that the Nominating and Governance Committee may be considering. The Nominating and Governance Committee's evaluation process does not vary based on whether the candidate is recommended by a shareholder. Although the Nominating and Governance Committee does not have a formal written diversity policy, it considers the diversity of our Board to be a priority and considers Board diversity as a whole, including the skills, background and experience of our directors.

## Directo r Terms
The Board is divided into three classes, and the directors in each class serve for three-year terms unless there is a need to adjust the number of Directors in a class or they are unable to continue to serve due to death, resignation, retirement or disability or are otherwise removed from office during such term. The term of one class of directors expires each year at the Corporation's annual meeting of shareholders. The Board may fill a vacancy by electing a new director to the same class as the director being

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replaced or by reassigning a director from another class. The Board also may create a new director position in any class and elect a director to hold the newly created position. In accordance with our Amended and Restated Articles of Incorporation, all directors elected to fill vacancies shall hold office for a term expiring at the annual meeting of shareholders at which the term of the class to which they have been elected expires.

## Voting for Directors
The Bylaws provide for cumulative voting in the election of directors. Accordingly, shareholders have the right to cumulate their votes by distributing a number of votes, determined by multiplying the number of directors to be elected at the Annual Meeting (i.e., two) by the number of shares owned by such shareholder as of the close of business on the Record Date, to one individual nominee or among two or more nominees.

## Board's Role in Risk Oversight
The Board as a whole is responsible for risk management oversight of the Corporation and ensuring that management develops sound business strategies. The involvement of the full Board in setting the Corporation's business strategy and objectives is integral to the Board's assessment of our risk profile and also a determination of what constitutes an appropriate level of risk and how best to manage any such risk. This involves receiving reports and/or presentations from applicable members of management, the Chief Risk Officer, Chief Information Officer, and the committees of the Board. The full Board continually evaluates risks such as financial risk, legal/compliance risk, operational/strategic risk, reputational risk, fraud risk, cybersecurity risk and other emerging risks, and addresses individual risk issues with management throughout the year as necessary.

While the Board has the ultimate oversight responsibility for the risk management process, the Board delegates responsibility for certain aspects of risk management to its standing committees. In particular, the Audit Committee focuses on enterprise risks and related controls and procedures, including financial reporting, fraud and regulatory risks, as well as oversight of cybersecurity and information technology risk management. In December 2023, the Corporation formed the Cybersecurity Materiality Assessment Team, a multi-disciplinary committee consisting of our senior managers in operations, financing/accounting, information technology and risk management/human resources, which manages disclosure with respect to cybersecurity risk under the oversight of the Audit Committee. The Compensation Committee strives to create compensation practices that do not encourage excessive levels of risk taking that would be inconsistent with the Corporation's strategy and objectives. The Nominating and Governance Committee is responsible for overseeing the Corporation's corporate governance and corporate governance principles.

## Executive Sessions
The non-management directors have regularly scheduled executive sessions, both with and without the Chief Executive Officer. Any security holder who wants to communicate directly with the presiding director, currently our Board Chair, or the non-management directors as a group can do so by following the procedure below under "Communications with Directors".

## Communi cations with Directors
The Board has established a process to receive communications from shareholders and other interested parties. To communicate with the Board, any individual director or any group or committee of directors, correspondence should be addressed to the Board or such individual or group or committee and sent to Ampco-Pittsburgh Corporation c/o Corporate Secretary at 726 Bell Avenue, Suite 301, P.O. Box 457, Carnegie, PA 15106. Communications sent in this manner will be reviewed by the office of the Corporate Secretary for the purpose of determining whether the contents represent a message to one or more of the Corporation's directors. Depending on the subject matter, the Corporate Secretary may attempt to handle the inquiry directly, such as when it is a request for information about the Corporation or a stock-related matter. The Corporate Secretary also may not forward the communication if it is primarily commercial in nature or it relates to an improper or irrelevant topic.

## Annual Meetin g Attendance
The Corporation encourages its directors to attend each annual meeting of shareholders. Eight of the directors then in office were in attendance at the Corporation's 2025 annual meeting of shareholders.

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# BOARD COM MITTEES

## Summ ary
During 2025, the Board had four standing committees: Audit Committee, Compensation Committee, Executive Committee, and Nominating and Governance Committee. In May 2025, the Board determined to discontinue the Finance and Investment Committee. The Board makes committee and committee chair assignments annually in connection with the annual meeting of shareholders, although further changes to committee assignments may be made from time to time as deemed appropriate by the Board. The Nominating and Governance Committee Charter, the Compensation Committee Charter, the Audit Committee Charter, and the Corporate Governance Guidelines are available on the Corporation's website at <u>www.ampcopgh.com</u>.

The current composition of the Board and each committee of the Board is set forth below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Director** | **Audit<br>Committee** | **Compensation<br>Committee** | **Executive<br>Committee** | **Nominating and<br>Governance<br>Committee** | **Board of<br>Directors** |
| James J. Abel | X |  |  |  | X |
| Robert A. DeMichiei | C |  | X | X | X |
| Elizabeth A. Fessenden |  | C | X |  | X |
| Michael I. German | X |  |  |  | X |
| William K. Lieberman |  | X | X | C | X |
| J. Brett McBrayer |  |  | X |  | X |
| Darrell L. McNair |  | X |  | X | X |
| Laurence E. Paul |  |  | C |  | C |
| 2025 Meetings | 5 | 6 | 0 | 3 | 7 |

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X—Member

C—Chair

All of the directors attended at least 95% of the applicable Board and Committee meetings in 2025, and none of the directors attended less than 75% of the applicable Board and Committee meetings in 2025.

The non-management directors meet separately in regularly scheduled executive sessions without members of management present, except to the extent that the non-management directors request the attendance of one or more members of management. The Board Chair presides over meetings of the non-management directors.

## Audit Co mmittee
The Audit Committee held five meetings in 2025 and consists of three directors as of the date hereof: Robert A. DeMichiei (Chair), James J. Abel and Michael I. German. None of the Audit Committee members is now, or has within the past five years been, an employee of the Corporation. The Board has determined that none of the members of the Audit Committee have any financial or personal ties to the Corporation (other than director compensation and equity ownership as described in this Proxy Statement) and that they meet the NYSE and SEC standards for independence applicable to members of the Audit Committee.

The Audit Committee reviews the Corporation's accounting and reporting practices, including internal control procedures, and maintains a direct line of communication with the Directors and the independent accountants. The Audit Committee also is directly responsible for the appointment, compensation and oversight of the work of our independent registered public accounting firm, including pre-approval of all audit and non-audit services to be performed by our independent registered public accounting firm, as well as evaluating the performance of our internal audit function and our financial reporting processes. The Audit Committee also has oversight responsibility for the Corporation's cybersecurity and information technology risk management.

The Board has determined that Mr. DeMichiei meets the SEC criteria to be deemed an "audit committee financial expert" and meets the NYSE standard of having accounting or related financial management expertise. Each member of the Audit Committee is financially literate.

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## Compensatio n Committee
The Compensation Committee met six times in 2025 and consists of three directors as of the date hereof: Elizabeth A. Fessenden (Chair), William K. Lieberman and Darrell L. McNair. The Compensation Committee is responsible for reviewing and recommending to the Board compensation programs and policies and reviewing and recommending to the Board the participation of executives and other key management employees in the various compensation plans of the Corporation.

The Compensation Committee, under the terms of its charter, has the sole authority to retain, approve fees and other terms for, and terminate any compensation consultant used to assist the Compensation Committee in executive compensation matters. The Compensation Committee also may obtain advice and assistance from internal or external legal, accounting or other advisors. In 2025, the Compensation Committee engaged Pay Governance LLC as its independent provider of compensation consulting services for decisions relating to 2025 compensation. The Compensation Committee can also utilize external legal advisors and assesses the independence of its advisors.

The Compensation Committee oversees aspects of the Corporation's human capital management strategy that it may deem of importance to the long-term sustainability of the Corporation. The Compensation Committee is also the administrator of the Clawback Policy.

Certain executive officers of the Corporation attend meetings of the Compensation Committee from time to time and are given the opportunity to express their views on executive compensation matters.

Each member of the Compensation Committee is a "non-employee director" of the Corporation as defined under Rule 16b-3 of the Exchange Act, and each member is also an "outside director" for the purposes of the corporate compensation provisions contained in Section 162(m) of the Internal Revenue Code.

None of our executive officers serve as a member of the compensation committee of any other company that has an executive officer serving as a member of the Board. None of our executive officers serves as a member of the board of directors of any other company that has an executive officer serving as a member of our Compensation Committee.

## Executive Committee
The Executive Committee did not meet in 2025. It is comprised of the following five directors as of the date hereof: Laurence E. Paul (Chair), Robert A. DeMichiei, Elizabeth A. Fessenden, William K. Lieberman and J. Brett McBrayer. The Executive Committee is responsible for providing guidance and counsel to the Corporation's management team on significant matters affecting the Corporation and taking action on behalf of the Board where required in exigent circumstances, such as where it is impracticable or infeasible to convene, or obtain the unanimous written consent of the full Board.

## Nominating and Gov ernance Committee
The Nominating and Governance Committee met three times in 2025 and is comprised of the following three directors as of the date hereof: William K. Lieberman (Chair), Robert A. DeMichiei and Darrell L. McNair. The Nominating and Governance Committee is responsible for identifying individuals qualified to become directors and recommending candidates for membership on the Board and its committees, developing and recommending to the Board the Corporation's corporate governance policies and reviewing the effectiveness of board governance, including overseeing an annual assessment of the performance of the Board and each of its committees.

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# SECURITY OWNERSHIP OF CERTAIN B ENEFICIAL OWNERS AND MANAGEMENT

## Beneficial Ownership of More Than Five Percent
The following table sets forth information, to the extent known by the Corporation, concerning individuals (other than directors or officers of the Corporation) or entities holding more than five percent of the outstanding shares of the Corporation's Common Stock. The "percent of class" in the table below is calculated based upon 20,326,389 shares outstanding as of March 12, 2026.

---

| | | |
|:---|:---|:---|
| **Name of beneficial owner** | **Amount and<br>nature of<br>beneficial<br>ownership** | **Percent<br>of class** |
| **Mario J. Gabelli**<br>(and entities which he controls or for which he acts as chief<br> investment officer) One Corporate Center<br> Rye, NY 10580 | 3935935<br><sup>(1)</sup> | 19.36% |
| **The Louis Berkman Investment Company**<br> 600 Grant Street, Suite 3230 Pittsburgh, PA 15219 | 3127792<br><sup>(2)</sup> | 15.39% |
| **Galloway Capital Partners, LLC**<br>650 NE 2nd Avenue, #3007<br>Miami, FL 33132 | 1056200<br><sup>(3)</sup> | 5.20% |
| **Ameriprise Financial, Inc.**<br> 145 Ameriprise Financial Center<br>Minneapolis, MN 55474 | 1079383<br><sup>(4)</sup> | 5.31% |

---

(1)According to the amended Schedule 13D filed with the SEC on August 4, 2025, Mario J. Gabelli beneficially owns 3,935,935 shares of which he has sole voting power with respect to 3,855,935 shares and sole dispositive power with respect to 3,935,935 shares.

(2)According to the amended Schedule 13D filed with the SEC on November 26, 2025, The Louis Berkman Investment Company ("LBIC") beneficially owns 3,127,792 shares and has sole voting and dispositive power with respect to such shares. The amount of shares owned by LBIC disclosed therein excludes shares beneficially owned by Dr. Laurence E. Paul, a director of the Corporation, who serves as a director and President of LBIC, and Mr. Stephen Paul, a former director of the Corporation, who serves as a director and President of LBIC.

(3)According to the Schedule 13D filed with the SEC on December 19, 2025, Galloway Capital Partners, LLC has sole voting and dispositive power with respect to 1,056,200 shares.

(4)According to the Schedule 13G filed with the SEC on November 14, 2024, Ameriprise Financial, Inc. ("AFI") has shared voting and dispositive power with Columbia Management Investment Advisers, LLC ("CMIA") with respect to 1,079,383 shares. AFI, the parent holding company of CMIA, and CMIA disclaim beneficial ownership of such shares.

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## Director and Executive O fficer Stock Ownership
The following table sets forth as of March 12, 2026, information concerning the beneficial ownership of the Corporation's Common Stock by the Directors and Named Executive Officers and all Directors and Executive Officers of the Corporation as a group. The "percent of class" in the table below is calculated based upon 20,326,389 shares outstanding as of March 12, 2026.

---

| | | |
|:---|:---|:---|
| **Name of beneficial owner** | **Amount and<br>nature of<br>beneficial<br>ownership** | **Percent<br>of class** |
| Laurence E. Paul | 3212160<br><sup>(1)</sup> | 15.79% |
| J. Brett McBrayer | 502228<br><sup>(2)</sup> | 2.45% |
| Michael I. German | 231670<br><sup>(3)</sup> | 1.14% |
| James J. Abel | 150546<br><sup>(4)</sup> | \* |
| Michael G. McAuley | 193216<br><sup>(5)</sup> | \* |
| Samuel C. Lyon | 180299<br><sup>(6)</sup> | \* |
| Elizabeth A. Fessenden | 119330<br><sup>(7)</sup> | \* |
| William K. Lieberman | 75912<br><sup>(8)</sup> | \* |
| Robert A. DeMichiei | 78185<br><sup>(9)</sup> | \* |
| Darrell L. McNair | 70552<br><sup>(10)</sup> | \* |
| Directors and Executive Officers as a group (11 persons) | 4879363 | 23.48% |

---

------

\* Less than 1%

(1)Represents 71,640 shares owned directly, 12,728 shares of restricted stock that will vest within sixty days, and 3,127,792 shares owned by The Louis Berkman Investment Company. Dr. Paul is a President of The Louis Berkman Investment Company and is a trustee of various trusts which own 34.22% of its non-voting stock.

(2)Represents 301,128 shares held directly and 201,100 shares of restricted stock units that will vest within sixty days.

(3)Represents 208,942 shares held directly, 10,000 shares held jointly with spouse and 12,728 shares of restricted stock that will vest within sixty days.

(4)Represents 137,818 shares held directly and 12,728 shares of restricted stock that will vest within sixty days.

(5)Represents 125,856 shares held directly with the total number of shares rounded up to the nearest whole number of shares and 67,360 restricted stock units that will vest within sixty days.

(6)Represents 115,414 shares held directly and 64,885 restricted stock units that will vest within sixty days.

(7)Represents 106,602 shares held directly and 12,728 shares of restricted stock that will vest within sixty days.

(8)Represents 38,184 shares held directly, 25,000 shares held jointly with spouse and 12,728 shares of restricted stock that will vest within sixty days.

(9)Represents 65,457 shares held directly and 12,728 shares of restricted stock that will vest within sixty days.

(10)Represents 51,184 shares held directly, 6,640 shares held by a trust of which he is a trustee and 12,728 shares of restricted stock that will vest within sixty days.

Unless otherwise indicated, the individuals named have sole investment and voting power.

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# NON-BINDING, ADVISORY VOTE ON COMPENSATION O F OUR NAMED

# EXECUTIVE OFFICERS (Proposal 2)
The Board is committed to a compensation philosophy and program that promotes our ability to attract, retain and motivate individuals who can achieve superior results for Ampco, its shareholders and its other stakeholders. As part of that commitment, and in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Dodd-Frank Act") and Section 14A of the Exchange Act, shareholders are being asked to approve, in an advisory non-binding resolution, the compensation of our named executive officers as disclosed in this Proxy Statement. This proposal is our "Say-on-Pay" proposal. The Say-on-Pay vote is advisory and therefore not binding on the Corporation or the Board. However, the Board and the Compensation Committee will carefully review the opinions that our shareholders express and will take the outcome of the vote into account when making decisions regarding executive compensation. Our Board adopted a policy to hold this advisory vote on executive compensation annually.

We believe that the Say-on-Pay vote represents an additional means by which we may obtain important feedback from our shareholders about executive compensation. As set forth in the Executive Compensation Overview on the following page, the overall objectives of our executive compensation program are to provide compensation that is competitive, create a structure that is based on achievement of performance goals and provide incentive for long-term continued employment.

Upon consideration of the voting results for the proposal considered at the Corporation's 2023 Annual Meeting of Shareholders regarding the frequency of advisory Say-on-Pay votes, the Board determined to hold an advisory Say-On-Pay vote annually. The Board will consider the results of the Say-On-Pay Proposal following the Annual Meeting of Shareholders.

Shareholders are encouraged to read the Executive Compensation Overview, starting on page 28, which discusses how the elements of the compensation packages for the named executive officers are determined, and review the Summary Compensation Table and the other related information following the Summary Compensation Table. The Board and the Compensation Committee believe that the Corporation's policies and procedures on executive compensation are strongly aligned with the long-term interests of our shareholders and are effective in achieving the strategic goals of the Corporation. The Say-on-Pay vote gives you, as a shareholder, the opportunity to endorse or not endorse our executive compensation program by voting for or against the following resolution:

"RESOLVED, that the shareholders of the Corporation approve, on an advisory basis, the compensation of the Corporation's named executive officers, as disclosed in the Corporation's proxy statement for the Annual Meeting of Shareholders pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Executive Compensation Overview, the Summary Compensation Table and the other related tables and disclosure."

**THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THIS RESOLUTION AND THEREBY ENDORSE THE CORPORATION'S EXECUTIVE COMPENSATION PROGRAM.**

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# COMPENSATION DISCUSSION AND ANALYSIS ("CD&A")

## EXECUTIVE COMPEN SATION OVERVIEW
In this CD&A, we summarize the compensation awarded to our executive officers listed in the Summary Compensation Table on page 40. We refer to these executive officers as our "named executive officers."

Executive Compensation Overview describes the key features of our executive compensation program for 2025 for our "named executive officers":

**2025 Named Executive Officers** 

---

| | |
|:---|:---|
| **<u>Name</u>** | **<u>Title (as of last day of 2025)</u>** |
| J. Brett McBrayer | Chief Executive Officer |
| Michael G. McAuley | Senior Vice President, Chief Financial Officer and Treasurer |
| Samuel C. Lyon | President of Union Electric Steel |

---

We have divided this discussion into five parts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2025 Highlights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Key Features of Our Executive Compensation Program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2025 Compensation Objectives

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2025 Compensation Decisions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Other Compensation Practices and Policies

**2025 HIGHLIGHTS**

Under the oversight of our Compensation Committee, our compensation program is designed to provide a competitive compensation structure that seeks to retain top performers, incentivize individual performance and enhance shareholder value in a responsible manner. In keeping with this design, the 2025 executive compensation program features a balanced mix of salary and performance-driven annual and long-term incentive award opportunities. The chart below illustrates the target compensation opportunities in 2025 for Mr. McBrayer, our Chief Executive Officer ("CEO," and also referred to as our "Principal Executive Officer" or "PEO").

![img249340759_2.jpg](img249340759_2.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The percentages shown in the charts above are based on the approved base salary of the CEO at the time the compensation structure was established in March 2025, the target short-term incentive ("STI") percentage, and the target value of the long-term incentive awards granted.

------

Based on our business performance results, the named executive officers earned bonuses under the STI program, which illustrates our pay-for-performance philosophy and also motivates our officers to continue to focus their efforts on improvements in the overall financial results of the Corporation. The bonuses earned under the 2025 STI program are partially driven by the positive results in the Air and Liquid Processing ("ALP") segment and the executive officer's individual personal performance modifier. This helped the Corporation to exceed its threshold level. In addition, the portion of our 2023-2025 long-term incentive program ("LTI") program related to relative total shareholder return ("rTSR") was achieved at maximum level.

## KEY FEATURES OF OUR EXECUTIVE COMPENSATION PROGRAM
Our Compensation Committee (also referred to as the "Committee") believes that our executive compensation program includes key features that align the interests of our named executive officers and the Corporation's long-term strategic direction with the interests of our shareholders and is designed to avoid features that could misalign their interests. While we are a smaller reporting company, the Board and management believe that providing the comprehensive overview in this section enhances transparency and provides investors with important insight into our executive compensation program.

------

---

| |
|:---|
| **KEY FEATURES**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Align CEO Pay with Corporation Performance:**<br>A significant portion of our CEO's actual compensation is tied to annual performance goals and long-term shareholder returns. A majority of long-term incentive awards granted during 2025 to our CEO were provided as PSUs. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Use Long-Term Incentives to Link a Significant Portion of Named Executive Officer Pay to Corporation Performance:**<br>The Compensation Committee generally approves a significant portion of compensation for our named executive officers through annual grants of LTI awards in the form of Performance Stock Units ("PSUs").  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Balance Short-Term and Long-Term Incentives:**<br>Our incentive programs provide an appropriate balance of annual and long-term incentives and include multiple measures of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Limit Dilution in Low Stock Price Environment and Incentivize Executive Officers by Utilizing a Fixed Value for Equity Awards:**<br>Consistent with our pay-for-performance ethos, and in an effort to avoid dilution to our shareholders, we determined the number of shares to be issued under equity awards granted to our executives based on $5.50 per share, which was the closing price of our Common Stock on the NYSE on the date of our 2022 award grant, rather than the closing price of $2.26 per share price on the date of our 2025 grants. As a result, the 2025 equity grants represented approximately 41% of the number of shares that would have been granted based on the closing price on the grant date. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Use of Performance Metrics:**<br>A significant portion of each executive's annual compensation is based on objective performance metrics. Our executive compensation program is designed so that a significant portion of compensation is "at-risk" based on corporate performance, as well as equity-based in order to align the interests of our executive officers and shareholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Cap Incentive Awards:**<br>Annual incentive awards and PSUs include capped payouts (200% for annual incentives and 200% for PSUs).  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Mitigate Excessive Risk-taking Behaviors by Named Executive Officers:** <br>Our executive compensation program includes features that reduce the possibility of our named executive officers, either individually or as a group, making excessively risky business decisions that could maximize short-term results at the expense of long-term value, such as a cap on annual incentive awards |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Claw Back of Certain Executive Compensation:**<br>We have implemented the Clawback Policy, which is applicable to executive officers pursuant to which, if the Corporation is required, because of negligence, misconduct, wrongdoing, breach of fiduciary duty or other violations, to restate financial results for any reporting period, the Compensation Committee is generally required to seek recoupment of any erroneously awarded compensation paid to such executive officers during the three-year period preceding the date on which the Corporation is required to prepare an accounting restatement to review the matter and determine what, if any, repayment executives will be required to make. In the event of an accounting restatement, the Clawback Policy further authorizes the recoupment of other compensation, including equity awards vesting solely based on continued employment, from named executive officers calculated in accordance with the Compensation Committee's sole discretion. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Use of Independent Compensation Consultant:**<br>In 2025, the Committee engaged Pay Governance LLC, a compensation consulting firm ("Pay Governance"), to assist the Committee in fulfilling its responsibilities and duties. Pay Governance does not provide any other services to the Corporation. The Committee utilizes executive sessions with Pay Governance without management present to enhance governance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Advice of Independent Compensation Consultant:**<br>The Committee is kept apprised of current trends in executive compensation by Pay Governance and regularly considers implementing appropriate changes to its executive compensation program. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Use of Peer Group:**<br>The Compensation Committee periodically checks its compensation decisions against executive compensation at a peer group of companies comparable in terms of the primary scope metric of revenue and secondary scope metrics of market cap, assets and number of employees to ensure that our executive compensation program provides competitive compensation opportunities. The same peer group is used to determine our relative performance for vesting of the rTSR portion of PSU awards.  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Multi-Year Vesting Periods:**<br>The equity awards granted to our executive officers are earned over multi-year periods, consistent with current practice and our retention objectives. Our 2016 Omnibus Incentive Plan (as Amended and Restated) provides for a minimum vesting requirement of not less than one year for all award types. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**No Section 280G Tax Gross-Up Rights:**<br>We do not provide any Code Section 280G excise tax gross-up rights or any other significant tax gross-up rights to our executive officers other than for reasonable and customary relocation expenses. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**No Option Repricing or Replacement without Shareholder Approval:**<br>The Corporation's 2016 Omnibus Incentive Plan (as Amended and Restated) prohibits "underwater" options from being repriced or replaced (either with new options or other equity awards), unless approved by our shareholders. Stock options were not part of the Corporation's executive compensation program during 2025. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Tally Sheets:**<br>In order to make well informed compensation decisions, the Committee reviews tally sheets that include each executive's current and historical compensation amounts, stock ownership, and retirement amounts, as well as amounts owed by the Corporation upon various termination scenarios. |

---

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## 2025 COMPENSAT ION OBJECTIVES
The compensation paid or awarded to our named executive officers for 2025 was designed to meet the following objectives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Provide compensation that is competitive with compensation for executive officers providing comparable services, taking into account the size of the Corporation, the nature of its business, and the location of its headquarters in order to attract and retain executive talent. We refer to this objective as "competitive compensation."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Create a compensation structure under which a meaningful portion of total compensation is based on achievement of performance goals relating to the Corporation's and the individuals' performance and also to the enhancement of shareholder value. We refer to this objective as the "performance incentive."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Provide an incentive for long-term continued employment with us. We refer to this objective as the "retention incentive."

We believe various components of our 2025 compensation payments and awards meet the following objectives:

---

| | |
|:---|:---|
| **<u>Type of Compensation</u>** | **<u>Objectives Addressed</u>** |
| Salary | -Competitive Compensation |
| Incentive Bonus Plan Awards | -Competitive Compensation<br>-Performance Incentives<br>-Retention Incentives |
| Restricted Stock Units | -Competitive Compensation<br>-Retention Incentives |
| Performance Stock Units | -Competitive Compensation<br>-Performance Incentives <br>-Retention Incentives |
| Change in Control Severance Protection | -Competitive Compensation<br>-Retention Incentives |

---

In assessing competitive compensation, Pay Governance prepares a competitive assessment of executive compensation on an annual basis. With the analysis provided by and the perspective of the consultant, the Committee makes determinations regarding executive compensation. The Committee generally targets executive total target direct compensation opportunities at the 50th percentile of the peer group. Total target direct compensation is defined as the sum of base salary, target annual cash bonus and the target grant-date value of long-term incentive awards.

In 2025, compensation decisions for our CEO were recommended by the Compensation Committee and approved by the independent members of the Board. The Committee also made compensation decisions, in consultation with the CEO, with respect to the compensation of the executive officers who report directly to the CEO, including both of the other named executive officers.

## 2025 COMPENSA TION DECISIONS
***Salaries***

New salary levels for our named executive officers were established in March 2025. Salary adjustments for our CEO are reviewed and must be approved by the independent members of the Board, after a recommendation by the Committee. The Committee is solely responsible for all other executive officer compensation decisions. Determinations by the Committee regarding salary adjustments are made based on a number of objective and subjective factors, including competitive market data, skills and expertise, the Corporation's financial performance, and a qualitative analysis of each individual officer's performance during the preceding year, taking into account such factors as leadership, commitment and execution of corporate initiatives and special projects assigned by the Board, the Board Chair, or the CEO. The Committee does not use a formula to calculate base salary adjustments for the CEO and other executive officers. The Committee and the CEO, as applicable, also consider whether there have been any material changes in an executive officer's title, duties or responsibilities in the preceding year. When an executive officer has assumed significant additional duties, or has been promoted, an above-normal salary adjustment would typically be considered by the Committee or CEO, as applicable. Finally, in rare circumstances, the Committee and the CEO, as applicable, may decide to make a market adjustment in salaries if it is determined that salary levels for one or more of our executive officers have fallen materially below levels that they consider appropriate in order to maintain a competitive compensation package and to discourage valued executives from leaving to pursue other opportunities.

------

Generally, the differences in the level of pay between the named executive officers is the result of the determination by the Committee or by the CEO, over time, regarding the level of responsibility, function, experience, and length of service that each of the officers possess.

The base salary determinations for each named executive officer in 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **2025 Base<br>Pre-Adjustment<br>Salary ($)** | **2025 Base<br>Adjusted<br>Salary ($)** | **Percentage<br>Increase** |
| J. Brett McBrayer | 700000 | 725000 | 3.6% |
| Michael G. McAuley | 470000 | 495000 | 5.3% |
| Samuel C. Lyon | 460000 | 485000 | 5.4% |

---

***Annual Incentive Plan*** 

The annual incentive bonus plan is designed to incentivize performance in three categories: (i) operating income performance in our business segments (ii) operating income of the Corporation and (iii) corporate free cash flow. The annual incentive bonus total award for 2025 for Messrs. McBrayer and McAuley was determined using the formula below. The formula for Mr. Lyon applies a 35% weighting to the Forged and Cast Engineered Products ("FCEP") business segment performance, 35% overall corporate operating income, and 30% corporate free cash flow.

---

| | | | |
|:---|:---|:---|:---|
| Target Annual Performance Incentive | 30% Weighting  | FCEP Segment Operating Income Attainment | Operating Income FCEP Segment Payout |
| Target Annual Performance Incentive<br> x | 20% Weighting<br> x | ALP Segment Operating Income Attainment | Operating Income ALP<br> Segment Payout |
| Target Annual Performance Incentive<br> x | 20% Weighting<br> x | Total Corporation Operating Income Attainment | Corporate Overall Operating Income Payout |
| Target Annual Performance Incentive<br> x | 30% Weighting <br> x | <br>Corporate Free Cash<br> Flow Attainment | Free Cash Flow Payout |
|  |  |  | **___________________** |
|  |  |  | Annual Incentive Award  |

---

Threshold, target and maximum levels were set for the performance goals, such that no amount would be paid for performance below threshold, 50% of target would be paid for performance at threshold, and no more than 200% of target would be paid for performance at or above maximum. For 2025, the Compensation Committee recommended, and the Board approved, that the 2025 annual incentive bonus plan provide that there will be no payouts above target on any of the performance metrics unless corporate free cash flow meets or exceeds target performance to incentivize the named executive officers and further align with shareholder interests. The annual incentive plan provides discretion to modify payouts by +/- 30 percentage points for individuals based on their individual performance during the year with total award payment capped at 200% of target.

<u>Reported Financial Results.</u> The Committee reviews our financial performance following the end of the year and retains the authority to adjust our reported financial results for items causing significant differences from assumptions contained in our business plan. The Committee has adopted a set of guidelines to help it evaluate potential adjustments. These guidelines are intended to better reflect executives' line-of-sight and ability to affect performance results, avoid artificial inflation or deflation of awards due to unusual or non-recurring items and emphasize long-term and sustainable growth. Adjustments for 2025 annual incentive primarily included asbestos-related expenses, foreign exchange loss and expenses related to the exit of U.K. operations.

------

<u>Business Segment Performance Goals (Weighted 50%)</u>. The business performance portion of the annual incentive for Mr. McBrayer and Mr. McAuley was based on goals related to the income from operations achieved by the two business segments of the Corporation, the FCEP segment (weighted at 30%) and the ALP segment (weighted at 20%), as compared to the segments' business plans for 2025. We weighted the FCEP segment more heavily since it is larger than the ALP segment, as determined based on revenue. The Committee continues to monitor the revenue of the ALP segment and may adjust the weighting accordingly in the future. The business performance portion of the annual incentive for Mr. Lyon was based on goals related to income from operations achieved solely by the FCEP segment as compared to the FCEP segment's business plans for 2025. Income from operations was chosen by the Compensation Committee in the belief that it is the most accurate objective measure of business operating performance. The Committee eliminates most charges or windfalls that are generally beyond the control of the executives and adjusts actual results to allow for the exclusion, for example, of cost changes related to asbestos litigation, adjustments for acquisitions or divestitures, changes in accounting standards, and other similar charges.

---

| | | | |
|:---|:---|:---|:---|
| **Business Segment<br>Operating Income Goals for 2025 ($ in thousands)** | **Business Segment<br>Operating Income Goals for 2025 ($ in thousands)** | **Business Segment<br>Operating Income Goals for 2025 ($ in thousands)** | **Business Segment<br>Operating Income Goals for 2025 ($ in thousands)** |
| **FCEP<br>segment (30% weight)** <sup>(1)</sup> | **Air and Liquid<br>Processing<br>segment<br> (20% weight)**<sup>(1)</sup> | **Performance<br>Achievement Level** | **Payout<br>Percentage<br>(of Target<br>Award)** |
| Less than 8,700 | Less than 10,100 | Below Threshold | 0% |
| 8700 | 10100 | Threshold | 50% |
| 11700 | 14100 | Target | 100% |
| 18000 | 18100 | Maximum | 200% |

---

(1) Weights reflect allocation for Messrs. McBrayer and McAuley. FCEP segment has a 35% weight and ALP segment is given no weight for Mr. Lyon.

<u>Corporate Operating Income (Weighted 20% for Messrs. McBrayer and McAuley, Weighted 35% for Mr. Lyon)</u>. For this purpose, Corporate Operating Income refers to consolidated Income (Loss) from Operations from the Corporation's consolidated income statement.

The following table shows the Corporate Operating Income portion of the design.

**Corporate Operating Income**

---

| | | |
|:---|:---|:---|
| **Achievement** | **2025 Corporate<br>OI Goals<br>($ in thousands)** | **Payout Percentage<br>(of target award)** |
| Below Threshold |  | 0% |
| Threshold | $7500 | 50% |
| Target | $12200 | 100% |
| Maximum | $23000 | 200% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Weights reflect allocation for Messrs. McBrayer and McAuley. FCEP segment has a 35% weight and ALP segment is given no weight for Mr. Lyon.

<u>Corporate Free Cash Flow (Weighted 30%)</u>. For this purpose, Corporate Free Cash Flow is defined as cash flow provided by operating activities minus purchases of property, plant and equipment as observed in the Consolidated Statement of Cash Flows from the Corporation's Forms 10-K or 10-Q. Important controllable elements of free cash flow are income, working capital (accounts receivable, inventories, accounts payable), asbestos and retirement benefit payments, and capital expenditures. The Committee may adjust Corporate Free Cash Flow for unusual cash uses, windfalls or grants used to fund capital expenditures.

------

The following table shows the Corporate Free Cash Flow portion of the design.

**Corporate Free Cash Flow Performance Goals**

---

| | | |
|:---|:---|:---|
| **Achievement** | **2025 Corporate<br>FCF Goals<br>($ in thousands)** | **Payout Percentage<br>(of target award)** |
| Below Threshold |  | 0% |
| Threshold | 0 | 50% |
| Target | $3300 | 100% |
| Maximum | $14100 | 200% |

---

<u>Target Annual Incentive Awards</u>. Target annual incentive awards were established by the Compensation Committee as a percentage of base salary for each named executive officer, intending to provide a competitive bonus opportunity aligned to the named executive officer's role, responsibilities and historic pay, as follows:

---

| | | |
|:---|:---|:---|
| **Name** | **Target Annual<br>Incentive<br>As % of Base Salary** | **Target<br>Annual<br>Incentive<br>Amount** |
| J. Brett McBrayer | 100% | $725000 |
| Michael G. McAuley | 70% | $346500 |
| Samuel C. Lyon | 70% | $339500 |

---

<u>2025 Annual Incentive Award Decisions Based on Performance</u>. Our named executive officers achieved the following results under the annual incentive bonus plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*<u>Business Performance Portion</u>:* The FCEP segment had operating income, as adjusted, for 2025 that exceeded the threshold level of performance for that business segment, resulting in payment above threshold for that portion of the 2025 annual incentive award. The ALP segment's operating income, as adjusted, exceeded its target performance. However due to corporate free cash flow for 2025 being below threshold level, payment was adjusted to target for that portion of the 2025 annual incentive award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*<u>Corporate Operating Income</u>:* The Overall Corporate Operating Income, as adjusted for 2025, exceeded the threshold level of performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*<u>Corporate Free Cash Flow</u>:* The Corporation's free cash flow for 2025 was below threshold level of performance resulting in no payout for that portion of the 2025 annual incentive award for the named executive officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*<u>Individual Performance Modifier</u>:* Factors considered in the individual performance modifier for 2025 included: strategic restructuring for business portfolio optimization, key financing actions, liquidity management, successful navigation of macroeconomics and regulatory challenges, and advancements in environment, health and safety initiatives. Following a qualitative analysis of each individual executive officer's performance during the preceding year, the Compensation Committee approved the STI payout with a +30 percentage points modifier for executive officers and recommended approval by the independent board members of the STI payout for the CEO. The following table summarizes the areas of performance considered material to the 2025 annual incentive award:

------

---

| | |
|:---|:---|
| **Name** | **2025 Performance Summary** |
| J. Brett McBrayer | -Oversaw strategic restructuring for business portfolio optimization, while navigating a volatile macro environment<br>-Oversaw new safety and health initiatives to reduce the risk of life-altering events in the workplace<br>-Restructured the organization to support leadership development and succession planning objectives while simultaneously reducing corporate costs |
| Michael G. McAuley | -Managed liquidity needs while controlling debt<br>-Amended and extended credit agreement for a 5-year term<br>-Actively managed asbestos product liability |
| Samuel C. Lyon | -Restructured segment portfolio, removing underperforming assets without impacting key customers while preserving cash<br>-Supported the operational transfer of customer orders by shifting product to other facilities, thereby minimizing customer disruption<br>-Successfully navigated macroeconomic and regulatory challenges |

---

The Compensation Committee approved the following annual incentive awards for the named executive officers for 2025, which are included in the Summary Compensation Table for 2025 under "Non-Equity Incentive Plan Compensation":

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Target Annual Incentive Award** | **FCEP Operating Income <br>(30% weighting) (1)** | **A&LP Operating Income <br>(20% weighting) (1)** | **Corporate Operating Income<br>(30% weighting)** | **Corporate Free<br>Cash Flow<br>(20% weighting)** | **Individual<br>Performance<br>Modifier** | **Actual Annual Incentive Award** |
| J. Brett McBrayer | $725000 | $111099 | $145000 | $127354 | $— | $217500 | $600953 |
| Michael G. McAuley | $364500 | $53098 | $69300 | $60866 | $— | $103950 | $287214 |
| Samuel C. Lyon | $339500 | $60696 | $— | $104364 | $— | $101850 | $266910 |

---

(1) Weights reflect allocation for Messrs. McBrayer and McAuley. FCEP segment has a 35% weight and ALP segment is given no weight for Mr. Lyon.

For each of the Annual Performance components of the annual incentive award, results between threshold and target or between target and maximum are interpolated on a straight-line basis.

***Long-Term Incentive Plan***

The Corporation has adopted the 2016 Omnibus Incentive Plan (as Amended and Restated) under which the Compensation Committee may grant the named executive officers and other key employees a variety of types of equity-based awards. The Committee believes that annual grants of equity-based awards serve the purpose of aligning the interests of our named executive officers with the interests of our shareholders. Vesting conditions for equity-based awards also encourage executive retention. The Compensation Committee generally approves annual grants of PSUs (vesting based on performance over a three-year performance period) and Restricted Stock Units ("RSUs") (vesting based on continued employment at the time of each vesting anniversary). The Committee believes the current mix of equity incentive awards further ties compensation to our Corporation's performance while also aligning interests with our Corporation's long-term shareholders and encouraging retention.

In order to determine the number of shares to grant in 2025, the Committee calculated the number of shares of Common Stock subject to the long-term incentive awards equal to the target long-term incentive amount summarized below based on a per share price of $5.50 rather than $2.26, the closing price of Common Stock on the date of grant. This resulted in executives receiving RSU and PSU awards of fewer shares at target levels than they would have received if the number of shares were determined based on the fair market value on the date of grant. This was the third consecutive year and four years in the last six years in which the Committee has reduced the number of shares granted to executive officers based on a per share price calculation at a higher price than the closing price of Common Stock on the date of grant.

The Committee determined that using a per share price of $5.50 had the benefit of preserving shares and impeding the ability of our executive officers from profiting from a low stock price environment. However, compensating our executives at this significant discount to market compensation goes counter to the retention aspect of equity awards.

In 2023, the Compensation Committee recommended, and the Board approved, a one-time performance-contingent grant of restricted stock units based on achievement of an average closing stock price of $10 per share (the "Price-Based PSUs"). The Price-Based PSUs represented a performance-contingent grant of RSUs based on achievement of an average closing stock price of $10 over any 10-day period between May 15, 2023 and May 15, 2027. Under this additional element to the 2023

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long-term incentive plan design upon achievement of the performance milestone and such executive officer's continued service through the one-year anniversary of the grant date, Mr. McBrayer would receive 100,000 shares of common stock and the other named executive officers would receive 50,000 shares of common stock.

In 2025, the Compensation Committee recommended, and the Board approved, a new performance-contingent grant of restricted stock units tied to absolute stock price ("ASP") goals, replacing the Return on Invested Capital ("ROIC") metric for PSU awards. Under this updated design, the payout is determined at threshold, target, and maximum based on achievement of a designated stock price measured as the highest 10-day average stock price achieved in year 2 or year 3 of the performance period, which runs from January 1, 2025 through December 31, 2027. Achievement of threshold, target, and maximum performance will result in vesting of the 2025 PSU awards at 50%, 100%, and 200% of target, respectively.

<u>Target Award Amounts</u>. The Compensation Committee sets a target dollar amount for the value of long-term incentive awards granted each year, intending to provide a competitive long-term incentive award opportunity aligned to the named executive officer's role, responsibilities and historic pay. Those target amounts for 2025 were as follows:

---

| | | |
|:---|:---|:---|
| **Name** | **Target Long-Term<br>Incentive<br>As % of Base Salary (1)** | **Target<br>Long-Term<br>Incentive<br>Amount (2)** |
| J. Brett McBrayer | 180% | $1305000 |
| Michael G. McAuley | 90% | $445500 |
| Samuel C. Lyon | 85% | $412250 |

---

(1)Based on the base salary at the time long-term incentive awards were granted.

(2)Amounts reflected under Target Long-Term Incentive Amount give effect to the $5.50 per share amount used to determine the number of shares subject to awards at target level.

Whether the named executive officers realize these target amounts depends on our financial results and stock price performance and the executive's continued employment with us.

<u>Mix of Awards: PSUs and RSUs</u>. For 2025 awards, the Compensation Committee recommended, and the Board approved, replacing the PSUs tied to ROIC with PSUs tied to ASP. The Compensation Committee has determined that the 2025 long-term incentive awards for the named executive officers should be provided according to the following mix: RSUs, (weighted 33% of total award); ASP PSUs (weighted 34% of total award), and rTSR PSUs, (weighted 33% of total award). This weighting, and the performance requirements for PSUs discussed below, is intended to further align executive compensation with the Corporation's performance and shareholder goals. The PSUs, to the extent earned based on performance, do not vest until the third anniversary of the grant date following the end of the performance period and the RSUs vest in three equal annual installments starting on the first anniversary of the grant date, to further encourage executive retention. Beginning in 2023, the grants are made on or about May 15 each year.

<u>Performance Design for PSUs</u>.

*<u>LTI Awards Granted in 2023 and 2024:</u>* The ROIC PSUs and rTSR PSUs become earned based on the Corporation's performance over a three-year performance period. The Compensation Committee determined that the performance vesting conditions should be based on a mix of our performance against pre-determined goals regarding ROIC and our rTSR as compared against a peer group over the performance period. The ROIC (calculated as net income divided by the sum of average total debt and shareholders' equity) performance is subject to certain adjustments for mergers and acquisitions, restructurings, foreign exchange fluctuations and accounting changes, among other items, which the Committee deems appropriate. rTSR performance ensures that compensation results are tied to our relative performance against our peers. For the 2023 and 2024 performance plans, the ROIC target range was based on a 3-year average ROIC over the performance period.

------

The following table shows the ROIC design:

**<u>ROIC Performance Goals</u>** 

---

| | |
|:---|:---|
| **Achievement** | **% of ROIC Portion<br>Target Earned** |
| Below Threshold | 0% |
| Threshold | 50% |
| Target | 100% |
| Maximum | 200% |

---

The following table shows the rTSR design. rTSR includes cumulative cash dividends (without interest) declared during the performance period. To guard against stock price volatility, the beginning and ending stock prices for determining rTSR are based on an eleven-trading day average using the closing price on the applicable date +/- 5 trading days.

**<u>rTSR Performance Goals</u>**

---

| | |
|:---|:---|
| **Achievement** | **% of rTSR Portion<br>Target Earned** |
| Below Threshold<br> Below 25<sup>th</sup> percentile | 0% |
| Threshold<br> 25<sup>th</sup> percentile | 50% |
| Target<br> 50<sup>th</sup> percentile | 100% |
| Maximum<br> 75<sup>th</sup> percentile and above | 200% |

---

The peer companies for this purpose selected by the Compensation Committee are the same as used by the Committee to review the competitiveness of our executive compensation program, as discussed further below.

*<u>LTI Awards Granted in 2025:</u>* The ASP PSUs become earned based on the Corporation's performance over a three-year period from 2025 to 2027. The ASP PSU performance is measured as the highest 10-day average closing price achieved in year 2 or year 3 of the applicable performance period, and the underlying shares vest based on specific threshold, target and maximum achievement of a designated share price by the Corporation. The design element aligns executive compensation directly with shareholder value creation.

For each of the PSU performance goals, results between threshold and target or between target and maximum are interpolated on a straight-line basis.

<u>2025 Results for ROIC PSUs and rTSR PSUs granted in 2023</u>. The rTSR for the 2023-2025 PSUs was achieved at 200% of the target goal resulting in PSUs being earned by participants in the 2023 LTI program. ROIC performed below threshold and as a result, that portion of the 2023-2025 PSUs was forfeited.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Participant** | **2023 rTSR<br> PSUs<br>Granted** | **2023 ROIC<br> PSUs<br>Granted** | **2023 Total<br> PSUs<br>Granted** | **rTSR<br>Shares<br>Earned<br>(Attainment<br>0%)** | **ROIC<br>Shares<br>Earned<br>(Attainment<br>0%)** | **Total<br>Shares<br>Earned** |
| J. Brett McBrayer | 64800 | 66764 | 131564 | 129600 |  | 129600 |
| Michael G. McAuley | 21600 | 22255 | 43855 | 43200 |  | 43200 |
| Samuel C. Lyon | 21120 | 21760 | 42880 | 42240 |  | 42240 |

---

**Executive Officer Stock Ownership Guidelines**

We have a long-standing approach of compensating executive officers in part with stock awards and encouraging retention of stock acquired through such awards or by market purchases. We believe retention of stock creates a long-term perspective and aligns the interests of our executive officers with those of our shareholders

In 2020, the Board, upon recommendation of the Compensation Committee, adopted new Stock Ownership Policy Guidelines requiring, among other things, (i) the CEO to hold stock at a target level of three times his base salary; and (ii) other Executive Officers to hold stock at a target level of one times their base salaries.

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Rather than a period of time requirement for achieving compliance with the guidelines, directors and officers are not permitted to sell or transfer more that 50% of any Corporation-granted shares until their guideline ownership levels have been met. The Compensation Committee reviews progress to ownership levels on an annual basis.

As CEO of the Corporation, Mr. McBrayer is required to hold stock valued at three times his base salary, or $2,175,000 in 2025. Mr. McAuley and Mr. Lyon are required to hold stock valued at one time their base salary. The following table shows the value of each named executive officer's holdings in Ampco Common Stock as of March 12, 2026, based on the closing price of our Common Stock on NYSE on that date. Each of these amounts includes unvested restricted stock units and performance share units for which the applicable performance threshold has been achieved, if applicable, but have not yet settled. The Compensation Committee continues to assess the target levels and holdings of each executive in light of the value of the stock price, among other factors.

---

| | |
|:---|:---|
| **<u>Name</u>** | **<u>Value of Ampco Stock ($)</u>** |
| J. Brett McBrayer | $4414584 |
| Michael G. McAuley | $1698369 |
| Samuel C. Lyon | $1584828 |

---

## OTHER COMPENSATION PR ACTICES AND POLICIES
See "Key Features of Our Executive Compensation Program" above for a summary of a number of key policies and practices designed to result in a balanced executive compensation program that encourages appropriate, and not excessive, levels of risk taking by our named executive officers. Below are certain additional policies and practices regarding our program:

***Use of Peer Companies***

The Compensation Committee periodically checks its compensation decisions against executive compensation at a peer group of companies comparable in terms of the primary scope metric of revenue and secondary scope metrics of market cap, assets and number of employees to ensure that our executive compensation program provides competitive compensation opportunities for our named executive officers. The Committee uses this information for general context on executive compensation practices and levels in the market and does not have a formal policy to benchmark compensation mix or levels for the named executive officers to a specified competitive level against these peers.

The Committee approved the peer group below for use in 2025, taking into account size and complexity of the business of these peer companies based on revenue, total assets and market cap. At the time established, the Corporation's revenue was reasonably positioned relative to the peers. The Corporation's relative positioning of other metrics was well-balanced with market cap positioned below the median while assets and employee count were positioned above the median. The peer company list approved for 2025 was as follows:

Ascent Industries Co.Core Molding Technologies, Inc.DMC Global Inc.Douglas Dynamics, Inc.FreightCar America, Inc.Gorman-Rupp Company Hurco Companies, Inc.Insteel Industries, Inc.L.B. Foster CompanyNN, Inc.Northwest Pipe CompanyThermon Group Holdings, Inc. Tredegar CorporationTwin Disc, Incorporated

***Ongoing and Post-Employment Agreements***

In 2018, the Board adopted the Ampco-Pittsburgh Corporation Executive Severance Plan (the "Executive Severance Plan") for key executive officers of the Corporation other than the CEO (whose severance benefits were addressed in his offer letter). The Executive Severance Plan expired on its terms in 2020 and was not renewed. We also have a legacy supplemental executive retirement plan that enables certain of our named executive officers to accrue retirement benefits as the executive continues to work for us, as well as change in control agreements that could provide severance benefits upon a change in control. These plans and agreements are designed to be a part of a competitive compensation package. The plans and agreements described below do not include plans that are generally available to all of our salaried employees:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Change in Control Agreements — We have change in control agreements with respect to each of our executive officers so that our executive officers remain focused on the interests of the Corporation and the shareholders, rather than their personal circumstances, in the context of a potential change in control. Our agreements with executive officers provide for payments and other benefits only if we terminate an executive officer's employment without cause or if the executive officer terminates employment for "good reason" within 24 months following a

------

change in control. The Change in Control agreements are described under "Potential Payments Upon Termination, Resignation or Change in Control" below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•In June 2018, we entered into a letter agreement with Mr. McBrayer for his employment as our Chief Executive Officer (as amended, the "CEO Offer Letter"). Pursuant to the CEO Offer Letter, Mr. McBrayer is entitled to receive a base salary that is subject to regular review, participation in our equity incentive plan and our annual incentive program. In addition, Mr. McBrayer is entitled to receive a membership in the Duquesne Club which is used for company business and reimbursement for financial and tax advisor services of up to $12,000 per year. Mr. McBrayer also received certain relocation benefits and may participate in our benefit programs, including the Corporation's 401(k) savings plan, which provides for a 100% match on the first 5% of Mr. McBrayer's contribution. See "Potential Payments Upon Termination, Resignation or Change in Control – Change in Control Agreements for a description of McBrayer's Change in Control Agreement. In addition, upon a termination other than for "Cause" (as defined in the letter agreement), Mr. McBrayer would be entitled to receive 12 months of base compensation, and in connection with Mr. McBrayer's employment he was appointed to the Board. In the event that his employment as Chief Executive Officer is terminated, he will tender his resignation as a director, subject to acceptance by the Board.

***Tax Considerations***

Internal Revenue Code Section 162(m) limits the deductibility of compensation in excess of $1 million paid to any one named executive officer in any calendar year. Under the tax rules in effect before 2018, compensation that qualified as "performance-based" under Section 162(m) was deductible without regard to this $1 million limit. However, the Tax Cuts and Jobs Act, which was signed into law December 22, 2017, eliminated this performance-based compensation exception effective January 1, 2018, subject to a special rule that "grandfathers" certain awards and arrangements that were in effect on or before November 2, 2017. As a result, compensation that the Compensation Committee structured in 2017 and prior years with the intent of qualifying as performance-based compensation under Section 162(m) that is paid on or after January 1, 2018 may not be fully deductible, depending on the application of the special grandfather rules. Moreover, from and after January 1, 2018, compensation awarded in excess of $1 million to our named executive officers generally will not be deductible. Given our current compensation levels, the potential impact of Section 162(m) has not been a material consideration for the Committee. While the Tax Cuts and Jobs Act may limit the deductibility of compensation paid to the named executive officers in the future, the Committee will—consistent with its past practice—design compensation programs that are in the best long-term interests of the Corporation and our shareholders, with deductibility of compensation being one of a variety of considerations taken into account.

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## SUMMARY COMPE NSATION TABLE
Summary compensation information for our named executive officers for 2025 is set forth in the following table:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(a)** | **(b)** | **(c)** | **(d)** | **(e)** | **(f)** | **(g)** | **(h)** |
| **Name and Principal Position** | **Year<br>($)** | **Salary<br>($)** | **Bonus<br>($)** | **Stock<br>Awards<br>($)(1)** | **Non-Equity<br>Incentive<br>Plan<br>Compensation<br>($)** | **All Other<br>Compensation<br>($)(2)** | **Total ($)** |
| PEO—J. Brett McBrayer | 2025 | 718750 | 0 | 701782 | 600953 | 43975 | 2065460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer | 2024 | 693750 | 0 | 351202 | 1131830 | 43725 | 2220507 |
| Michael G. McAuley | 2025 | 488750 | 0 | 239574 | 287214 | 29500 | 1045038 |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President, Chief Financial Officer and Treasurer | 2024 | 465000 | 0 | 117904 | 493963 | 29250 | 1106117 |
| Samuel C. Lyon | 2025 | 478750 | 0 | 221694 | 266910 | 27500 | 994854 |
| &nbsp;&nbsp;&nbsp;&nbsp;President of Union Electric Steel | 2024 | 455000 | 0 | 108608 | 529130 | 27250 | 1119988 |

---

------

(1)The values set forth in this column represent the aggregate grant date fair value of awards of RSUs and PSUs pursuant to our 2016 Omnibus Incentive Plan (as Amended and Restated), consistent with the estimate of aggregate compensation cost to be recognized over the service period determined as of the grant dated under FASB Accounting Standard Codification ("ASC") Topic 718, excluding the effect of estimated forfeitures. With respect to awards made in 2025, a portion of the PSUs (up to 34% of the total target long-term incentive awards) becomes earned at the end of a three-year period, based on achievement of a designated stock price measured as the highest 10-day average stock price achieved in year 2 or year 3 of the performance period, and the remaining portion (up to 33% of the total target long-term incentive awards) becomes earned based on our rTSR over the three-year performance period. The remaining 33% of the target long-term incentive awards is attributable to RSUs. For the 2025 ASP portion of the PSUs, the grant date fair value was calculated using the Monte Carlo Methodology, resulting in a grant date fair value of $3.06. Had the grant date fair value for this portion of the PSUs been based on assumed maximum level of performance (i.e., at 200% of target), the 2025 grant date fair values would have been the following: $493,719 for Mr. McBrayer; $168,545 for Mr. McAuley and $155,968 for Mr. Lyon For the rTSR portion of the PSUs, the grant date fair value was calculated using the Monte Carlo Methodology, resulting in a grant date fair value of $3.55. Had the grant date fair value for this portion of the PSUs been based on assumed maximum level of performance (i.e., at 200% of target), the grant date fair values for that portion of the PSUs in the table for 2025 would have been the following: $555,930 for Mr. McBrayer; $189,783 for Mr. McAuley, and $175,619 for Mr. Lyon. The assumptions made in calculating the grant date fair values are set forth in Note 18 to our financial statements included in our Annual Report for the year ended December 31, 2025. For additional information on the PSUs, see "Long-Term Incentive Awards" discussion under the Executive Compensation Overview.

(2)Represents Corporation contributions to the 401(k) Plan, a perquisite allowance and reimbursement for tax preparation and financial consulting services. Included in "All Other Compensation" are the following amounts:

---

| | | |
|:---|:---|:---|
| **Name** | **Company<br>Contribution<br>to 401(k)<br>Plan ($)** | **Other ($)** |
| J. Brett McBrayer | 17500 | 26475 |
| Michael G. McAuley | 17500 | 12000 |
| Samuel C. Lyon | 17500 | 10000 |

---

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## OUTSTANDING EQUITY AWA RDS AT FISCAL YEAR-END
The following table summarizes certain information regarding outstanding equity awards at fiscal year-end:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Stock Awards** | **Stock Awards** | **Stock Awards** | **Stock Awards** |
| **(a)** | **(b)** | **(c)** | **(e)** | **(f)** | **(g)** | **(h)** | **(i)** | **(j)** |
| **Name** | **Number of<br>Securities<br>Underlying<br>Unexercised<br>Options (#)<br>Exercisable** | **Number of<br>Securities<br>Underlying<br>Unexercised<br>Options (#)<br>Unexercisable** | **Option<br>Exercise<br>Price($)** | **Option<br>Expiration<br>Date** | **Number of<br>shares or<br>units of<br>stock that<br>have not<br>vested(#)(1)** | **Market value<br>of shares or<br>units of stock<br>that have not<br>vested($)(2)** | **Equity incentive<br>plan awards:<br>number of<br>unearned shares,<br>units or other<br>rights that<br>have not<br>vested(#)(3)** | **Equity incentive<br>plan awards:<br>market or<br>payout value of<br>unearned shares,<br>units or other<br>rights that<br>have not<br>vested($)(4)** |
| J. Brett McBrayer |  |  |  |  | 147502 | 786186 | 251969 | 1342995 |
| Michael G. McAuley |  |  |  |  | 49912 | 266031 | 101469 | 540830 |
| Samuel C. Lyon |  |  |  |  | 46497 | 247829 | 97525 | 519808 |

---

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(1)The amounts shown in this column reflect the aggregate number of unvested RSUs granted on May 15, 2023, May 15, 2024 and May 15, 2025. These unvested RSUs vest in three annual installments beginning May 15, 2026, May 15, 2027 and May 15, 2028, respectively, as summarized below.

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| | | | |
|:---|:---|:---|:---|
| **Name** | **Grant Date** | **# of Unvested Shares** | **Vesting Date** |
| J. Brett McBrayer | 5/15/2023 | 21601 | 5/15/2026 |
|  | 5/15/2024 | 23800 | 5/15/2026 |
|  | 5/15/2024 | 23801 | 5/15/2027 |
|  | 5/15/2025 | 26099 | 5/15/2026 |
|  | 5/15/2025 | 26100 | 5/15/2027 |
|  | 5/15/2025 | 26101 | 5/15/2028 |
| Michael G. McAuley | 5/15/2023 | 7201 | 5/15/2026 |
|  | 5/15/2024 | 7990 | 5/15/2026 |
|  | 5/15/2024 | 7991 | 5/15/2027 |
|  | 5/15/2025 | 8909 | 5/15/2026 |
|  | 5/15/2025 | 8910 | 5/15/2027 |
|  | 515/2025 | 8911 | 5/15/2028 |
| Samuel C. Lyon | 5/15/2023 | 7041 | 5/15/2026 |
|  | 5/15/2024 | 7360 | 5/15/2026 |
|  | 5/15/2024 | 7361 | 5/15/2027 |
|  | 5/15/2025 | 8244 | 5/15/2026 |
|  | 5/15/2025 | 8245 | 5/15/2027 |
|  | 5/15/2025 | 8246 | 5/15/2028 |

---

(2)The amounts shown in this column represent the market value of these stock awards based on a closing market price of $5.33 per share as of the close of trading on December 31, 2025 (the last trading day of our fiscal year).

(3)The amounts shown in this column include the rTSR, ROIC and ASP portions of the PSUs awarded in 2024 and 2025 that remain subject to future performance. For purposes of determining the amounts shown in this column, we assumed achievement of threshold performance goals. The actual number may be more or less depending on the Corporation's performance during the applicable three-year performance period. If maximum level of performance is achieved, the number of shares that will vest will be 607,876 for Mr. McBrayer, 205,876 for Mr. McAuley and 190,100 for Mr. Lyon. In addition, the amounts shown in this column include the Price-Based PSUs that remain subject to future performance. We assumed achievement of the performance requirements with respect to such awards. All PSUs are scheduled to vest as summarized below:

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---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Grant Date** | **# of Unvested Shares** | **Vesting Date** | **Total(#)** |
| J. Brett McBrayer |  |  |  |  |
|  | 5/15/2024 | 72482 | 5/15/2027 |  |
|  | 5/15/2025 | 79487 | 5/15/2028 |  |
|  |  |  |  | 151969 |
| Michael G. McAuley |  |  |  |  |
|  | 5/15/2024 | 24334 | 5/15/2027 |  |
|  | 5/15/2025 | 27135 | 5/15/2028 |  |
|  |  |  |  | 51469 |
| Samuel C. Lyon |  |  |  |  |
|  | 5/15/2024 | 22415 | 5/15/2027 |  |
|  | 5/15/2025 | 25110 | 5/15/2028 |  |
|  |  |  |  | 47525 |

---

For PSUs awarded in 2023, the rTSR of the Corporation for the 2023-2025 performance period was at maximum performance and thus an amount of shares at maximum level were earned. The ROIC performance of the Corporation for the 2023-2025 performance period was below the threshold value and as such, no stock will be issued at vesting date (May 15, 2026) with respect to the 2023 awards.

(4)The amounts shown in this column represent the value of the rTSR, ROIC and ASP portion of the unvested PSUs based on the closing market price of our Common Stock, or $5.33, as of the close of trading on December 31, 2025. If maximum level of performance is achieved, the value of shares that will vest will be $3,239,979 for Mr. McBrayer, $1,097,319 for Mr. McAuley and $1,013,233 for Mr. Lyon.

## POTENTIAL PAYMENTS UPON TERMINATION , RESIGNATION OR CHANGE IN CONTROL
**Change in Control Agreements** 

Each of the named executive officers is party to a change in control agreement with the Corporation. Per the terms of change in control agreements, the named executive officer would be entitled to receive upon a change in control, (i) three times the sum of annual salary and bonus paid for the prior year, (ii) continuation of employee benefits for two years (three years for Mr. McBrayer), (iii) cash payment in cancellation of outstanding stock options equal to the spread (if any) based on the greater of the stock price at termination and the price received in the change in control and the exercise price, and (iv) accelerated vesting of unvested restricted stock units.

The Corporation does not provide any tax gross-up payments under these agreements related to excise taxes under Internal Revenue Code Section 280G and 4999, or otherwise. Instead, the agreements provide for a cutback in benefits to avoid triggering such excise taxes, unless the named executive officer would receive a greater after-tax amount without such cutback.

A "change in control" occurs for purposes of the change in control agreements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If a person, other than persons currently in control, becomes an owner, directly or indirectly, of 50% or more of the combined voting power of the Corporation's outstanding voting securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If for two consecutive years there ceases to be a majority on the Board of individuals who at the beginning of the period were Board members, other than a new director whose election was approved by a vote of 2/3 of directors then still in office who were directors at beginning of the period or whose election or nomination for election was previously approved;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If the shareholders approve a merger or consolidation in which the Corporation's Common Stock is converted into shares of another corporation or cash or other property or the Corporation's Common Stock is not converted but 40% of the surviving corporation in the merger is owned by shareholders other than those who owned the Corporation's Common Stock prior to merger;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If there occurs any transaction which results in the Corporation's Common Stock no longer being publicly traded; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If the shareholders of the Corporation approve a plan of complete liquidation or agreement for sale or disposition of substantially all assets followed by distribution of proceeds to shareholders.

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A termination for "cause" occurs in each of the following cases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•willful and continued failure to substantially perform duties (other than due to disability) consistent with the named executive officer's position with the Corporation (subject to notice and cure provisions);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•willful engagement in conduct that is demonstrably and materially injurious to the Corporation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the named executive officer's conviction of a felony, or conviction of a misdemeanor involving assets of the Corporation.

A named executive officer may claim "good reason" for termination in the following events, subject to certain notice requirements and an opportunity for the Corporation to cure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a reduction in scope of duties and authority or adverse change in reporting relationship;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a reduction in base salary or bonus (unless similar reductions in bonuses are made for all executives);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•relocation of the executive by the Corporation greater than 25 miles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the failure by the Corporation to continue in effect any of the Corporation's employee benefit plans, policies, practices in which the named executive officer participated before the change in control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•failure to cause the change in control agreement to be assumed by the Corporation's successor.

See "Ongoing and Post-Employment Agreements" above for a summary of certain severance rights set forth in Mr. McBrayer's offer letter.

**2016 Omnibus Incentive Plan** 

The terms of the 2016 Omnibus Incentive Plan (as Amended and Restated), include special vesting provisions in case of termination of employment due to a change in control. In that case, RSUs become fully vested and PSUs become vested as follows: (A) for the rTSR and ROIC portions of the PSUs, a prorated number of the PSUs will become immediately earned and vested as of the date of such termination assuming target performance and based on the portion of the performance period completed through the date of such termination; (B) for any performance-adjusted PSUs related to the EPS portion for any previously completed year in the performance period, such performance-adjusted PSUs will become immediately earned and vested as of the date of such termination; and (C) for the one-third portion of the EPS portion being earned for the year of such termination, a prorated number of such PSUs shall become immediately earned and vested as of the date of such termination assuming target performance and based on the portion of the applicable year completed through the date of such termination.

Under the Amended and Restated 2016 Omnibus Incentive Plan (as Amended and Restated), a "change in control" occurs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If a person, other than persons currently in control, becomes an owner, directly or indirectly, of 50% or more of the combined voting power of the Corporation's outstanding voting securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If any election has occurred of persons to the Board that causes fewer than two-thirds of the Board to consist of persons other than (i) persons who were members of the Board on the effective date of the 2016 Omnibus Incentive Plan (as Amended and Restated) and (ii) persons who were nominated for elections as members of the Board at a time when two-thirds of the Board consisted of persons who were members of the Board on that effective date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Upon consummation (*i.e.,* closing) of a reorganization, merger or consolidation involving the Corporation, unless, following such reorganization, merger or consolidation, the owners of the Corporation before the transaction own more than 75% of the resulting entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Upon consummation (*i.e.,* closing) of a sale of substantially all of the Corporation's assets, unless the owners of the Corporation before the transaction own more than 75% of the purchaser; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If there is a complete liquidation or dissolution of the Corporation.

During 2025, the Corporation did not award stock options within four business days before or one business day after the release of a Form 10-Q, 10-K, or 8-K that discloses material nonpublic information. The Company has no specific policy on the timing of awards of such instruments in relation to the release of a Form 10-Q, 10-K, or 8-K that discloses material nonpublic information.

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# REPORT OF THE COMPE NSATION COMMITTEE
Notwithstanding anything to the contrary set forth in any of the Corporation's filings under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act that incorporate other Corporation filings, including this Proxy Statement, the following Report of the Compensation Committee does not constitute soliciting material and shall not be incorporated by reference into any such filings.

The Compensation Committee has reviewed and discussed the Compensation Discussion and Analysis with management and, based on this review and discussion, it has recommended to the Board that the Compensation Discussion and Analysis be included in this Proxy Statement.

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| |
|:---|
| COMPENSATION COMMITTEE |
| Elizabeth A. Fessenden (Chair) |
| William K. Lieberman |
| Darrell L. McNair |

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# CERTAIN RELATIONSHIPS AN D RELATED TRANSACTIONS
The Corporation's policies and procedures for reviewing, approving and ratifying transactions with related persons are set forth in the Corporation's Corporate Governance Guidelines, which are available on the Corporation's website at <u>www.ampcopgh.com</u>. Under these policies and procedures, the Corporation's management is responsible for determining whether a particular transaction should be referred to the Nominating and Governance Committee for consideration. The Nominating and Governance Committee then determines whether to approve, ratify, revise the terms of, reject the transaction or refer the transaction to the full Board or another appropriate committee of the Board for approval or ratification. The policy and procedures apply to transactions involving an amount in excess of $120,000 in which a related person has a direct or indirect material interest. There were no such transactions since January 1, 2023. The policy and procedures generally do not apply to employment matters (except employment of an executive officer who is an immediate family member of another executive officer), director compensation, commercial transactions in the ordinary course of business under ordinary business terms, charitable contributions, transactions such as payment of dividends where all shareholders receive the same proportional benefits and transactions involving competitive bids.

# REPORT OF THE A UDIT COMMITTEE
The Audit Committee has reviewed and discussed the audited financial statements included in the Corporation's Annual Report for the year ended December 31, 2025, with management and discussed those matters required to be discussed under Public Company Accounting Oversight Board ("PCAOB") standards with BDO USA, P.C. ("BDO").

The Audit Committee has received the written disclosures and the letter from BDO required by applicable requirements of the PCAOB regarding BDO's communications with the audit committee concerning independence and has discussed with BDO its independence.

Based on the review and discussions referred to in the preceding paragraphs, the Audit Committee recommended to the Board that the audited financial statements be included in the Corporation's Annual Report for the last fiscal year for filing with the SEC.

The following table summarizes the aggregate fees billed to the Corporation by BDO in 2024 and 2025:

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| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Audit fees (a) | $1101471 | $1126351 |
| Audit-related fees (b) |  |  |
| Tax fees (c) |  |  |
| All other fees |  |  |
| Total | $1101471 | $1126351 |

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(a)Fees for audit services primarily related to the audit of (1) the Corporation's annual consolidated financial statements and (2) statutory financial statements for the Corporation's foreign subsidiaries.

(b)Fees for audit-related services related to attest services not required by statute or regulation.

(c)Fees for tax-related services.

In considering the nature of the services provided by our independent auditors, the Audit Committee determined that such services are compatible with the provision of independent audit services. The Audit Committee discussed these services with our independent auditors and the Corporation's management to determine that they are permitted under the rules and regulations concerning auditor independence promulgated by the SEC. All services provided by our independent auditors and reflected in the table above were approved by the Audit Committee in accordance with the policy described below.

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The Audit Committee has adopted a Policy for Approval of Audit and Non-Audit Services (the "Policy") provided by the Corporation's independent auditor. According to the Policy, the Corporation's independent auditor may not provide the following services to the Corporation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•maintain or prepare the Corporation's accounting records or prepare the Corporation's financial statements that are either filed with the SEC or form the basis of financial statements filed with the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide appraisal or valuation services when it is reasonably likely that the results of any valuation or appraisal would be material to the Corporation's financial statements or where the independent auditor would audit the results;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide certain management or human resource functions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•serve as a broker-dealer, promoter or underwriter of the Corporation's securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide any service in which the person providing the service must be admitted to practice before the courts of a U.S. jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•provide any internal audit services relating to accounting controls, financial systems, or financial statements; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•design or implement a hardware or software system that aggregates source data underlying the financial statements or generates information that is significant to the Corporation's financial statements, taken as a whole.

In addition, in connection with its adoption of the Policy, the Audit Committee pre-approved certain audit-related and other non-prohibited services. Any services not prohibited or pre-approved by the Policy must be pre-approved by the Audit Committee in accordance with the Policy. The Audit Committee pre-approved all services rendered by and associated fees paid to BDO for 2025 and 2024. The Policy is reviewed and approved annually by the Board.

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| |
|:---|
| AUDIT COMMITTEE |
| Robert A. DeMichiei (Chair) |
| James J. Abel |
| Michael I. German |

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**RATIFICATION OF THE APPOINTMENT OF BDO USA, P.C. AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2026** 

**(Proposal 3)**

The Audit Committee, comprised of independent members of the Board, appointed BDO USA, P.C. ("BDO") as the Corporation's independent registered public accounting firm beginning in 2020. Shareholder ratification of the selection of BDO as the Corporation's independent registered public accounting firm is not required by the Corporation's Amended and Restated Articles of Incorporation or the Bylaws. The Corporation is submitting the selection of BDO to the shareholders for ratification because the Board considers it to be the best practice in corporate governance to do so. Even if the shareholders ratify the Audit Committee's appointment of independent accountants, the Audit Committee in its discretion may change the appointment at any time if it determines that such change would be in the best interests of the Corporation and its shareholders. If the shareholders do not ratify the appointment of BDO, the selection of the independent registered public accounting firm will be reconsidered by the Audit Committee, but BDO may still be retained.

Representatives of BDO, the Corporation's independent public accounting firm are expected to be in attendance at the Annual Meeting, and will have the opportunity to make a statement if they wish to do so and will respond to appropriate questions.

**THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE BDO RATIFICATION PROPOSAL.**

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**EQUITY COMPENSATION PLAN INFORMATION** 

The following table summarizes information, as of December 31, 2025 with respect to compensation plans under which equity securities of the Corporation are authorized for issuance:

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| | | | |
|:---|:---|:---|:---|
|  | **(a)** | **(b)** | **(c)** |
| **Plan Category** | **Number of securities to be<br>issued upon exercise of<br>outstanding options,<br>warrants and rights (1)** | **Weighted-average exercise<br>price of outstanding options,<br>warrants and rights (2)** | **Number of securities<br>remaining available for<br>future issuance under equity<br>compensation plans<br>(excluding securities<br>reflected in column (a)** |
| Equity compensation plans<br> approved by security holders | 1468740 | N/A | 791093 |
| Equity compensation plans not<br> approved by security holders | N/A | N/A | N/A |
| Total | 1468740 | N/A | 791093 |

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(1) Does not include reflect the 117,420 2023 TSR performance shares achieved at maximum performance (200%) which remain outstanding until the end of the service period.

(2)Does not reflect RSUs or PSUs included in the first column, which do not have an exercise price.

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**PAY VERSUS PERFORMANCE** 

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between compensation actually paid to our named executive officers and certain financial performance metrics of the Corporation using a methodology that has been prescribed by the SEC.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Fiscal<br>Year** | **Summary<br>Compensation<br>Table Total<br>for PEO**<sup>(1)</sup> | **Compensation<br>Actually Paid<br>to PEO**<sup>(1)(2)</sup> | **Average Summary<br>Compensation<br>Table Total<br>for non-PEO NEOs**<sup>(1)</sup> | **Average<br>Compensation<br>Actually Paid<br>to non-PEO NEOs**<sup>(1)(2)</sup> | **Value of Initial<br>Fixed $100<br>Investment<br>Based On Total<br>Shareholder<br>Return** | **Net Income** |
| **(a)** | **(b)** | **(c)** | **(d)** | **(e)** | **(f)** | **(g)** |
| 2025 | $2065460 | $4977711 | $1019946 | $2015125 | $212.35 | $(62567000) |
| 2024 | $2220507 | $2018529 | $1113053 | $1028928 | $83.27 | $438000 |
| 2023 | $2245643 | $1943599 | $1049786 | $949042 | $108.76 | $(39928000) |

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(1)Our PEO for 2023-2025 is J. Brett McBrayer. The non-PEO named executive officers reflected in columns (d) and (e) include the following individuals: Michael G. McAuley (2023-2025) and Samuel C. Lyon (2023-2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The following amounts were deducted from or added to, as applicable, the Summary Compensation Table ("SCT") total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid ("CAP") to our PEO and average CAP to our non-PEO named executive officers. The fair value of stock awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.

<u>PEO SCT Total to CAP Reconciliation</u>

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Fiscal Year** | **2025** | **2024** | **2023** |
| &nbsp;&nbsp;SCT Total | $2065460  | $2220507  | $2245643 |
| &nbsp;&nbsp;- Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $(701782) | $&nbsp;&nbsp;&nbsp;&nbsp;(351202) | $(792682) |
| &nbsp;&nbsp;+ Fair Value at Fiscal Year-End of Outstanding Unvested Stock<br>Awards Granted in Fiscal Year | $1988277  | $492185  | $542632 |
| &nbsp;&nbsp;± Change in Fair Value of Outstanding Unvested Stock Awards<br>Granted in Prior Fiscal Years | $1603717 | $&nbsp;&nbsp;&nbsp;&nbsp;(289142) | $(94212) |
| &nbsp;&nbsp;+ Fair Value at Vesting of Stock Awards Granted in Fiscal<br>Year That Vested During Fiscal Year | $0  | $0  | $0 |
| &nbsp;&nbsp;± Change in Fair Value as of Vesting Date of Stock Awards <br>Granted in Prior Fiscal Years For Which Applicable<br>Vesting Conditions Were Satisfied During Fiscal Year | $22039 | $&nbsp;&nbsp;&nbsp;&nbsp;(53819) | $42219 |
| &nbsp;&nbsp;- Fair Value as of Prior Fiscal Year-End of Stock Awards<br>Granted in Prior Fiscal Years That Failed to Meet Applicable<br>Vesting Conditions During Fiscal Year | $0  | $0  | $0 |
| &nbsp;&nbsp;**Compensation Actually Paid** | **$4977711**  | $**2018529**  | $**1943599** |

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<u>Non-PEO NEO Average SCT Total to Average CAP Reconciliation</u>

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| | | | |
|:---|:---|:---|:---|
| **Fiscal Year** | **2025** | **2024** | **2023** |
| Average SCT Total | $1019946  | $1113053  | $1049786 |
| - Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $(230634) | $&nbsp;&nbsp;&nbsp;&nbsp;(113256) | $(288892) |
| + Fair Value at Fiscal Year-End of Outstanding Unvested Stock<br> Awards Granted in Fiscal Year | $653429  | $158721  | $204082 |
| ± Change in Fair Value of Outstanding Unvested Stock Awards<br>Granted in Prior Fiscal Years | $565147 | $&nbsp;&nbsp;&nbsp;&nbsp;(111575) | $(31859) |
| + Fair Value at Vesting of Stock Awards Granted in Fiscal <br>Year That Vested During Fiscal Year | $0  | $0  | $0 |
| ± Change in Fair Value as of Vesting Date of Stock Awards<br>Granted in Prior Fiscal Years For Which Applicable<br>Vesting Conditions Were Satisfied During Fiscal Year | $7237 | $&nbsp;&nbsp;&nbsp;&nbsp;(18015) | $15925 |
| - Fair Value as of Prior Fiscal Year-End of Stock Awards<br> Granted in Prior Fiscal Years That Failed to Meet Applicable<br>Vesting Conditions During Fiscal Year | $0  | $0  | $0 |
| **Average Compensation Actually Paid** | **$2015125**  | $**1028928**  | $**949042** |

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DESCRIPTION OF RELATIONSHIP BETWEEN CAP AND PERFORMANCE METRICS

The chart below illustrates the relationship between the PEO and other NEOs' CAP amounts and the Corporation's TSR during the period 2023-2025.

![img249340759_3.gif](img249340759_3.gif)

The chart below illustrates the relationship between the PEO and other NEOs' CAP amounts and the Corporation's Net Income during the period 2023-2025.

![img249340759_4.gif](img249340759_4.gif)

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**DELINQUENT SECTION 16(a) REPORTS**

Section 16(a) of the Exchange Act requires directors and officers of the Corporation and beneficial owners of more than 10% of its Common Stock file reports with the SEC with respect to changes in their beneficial ownership of equity securities of the Corporation. Based solely upon a review of the copies of such reports furnished to the Corporation and written representations by certain persons that reports on Form 5 were not required, The Louis Berkman Investment Company, of which the Corporation's director, Dr. Laurence E. Paul, serves as a director and President, had a late Form 4 filing made on November 26, 2025.

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# SHAREHOLDER PROPOSALS AND NOMINATIONS FOR 2027 ANNUAL MEETING
Any shareholder who wishes to place a proposal before the Corporation's 2027 annual meeting of shareholders pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to the Corporation's Secretary, at its executive offices, not later than November 27, 2026 to have it considered for inclusion in the proxy statement for the Corporation's 2027 annual meeting of shareholders.

A shareholder that wishes to nominate a director other than a nominee of the Board for consideration at the 2027 Annual Meeting must (i) must notify the Corporation's Secretary in writing, (ii) the shareholder's notice must be received at the Corporation's executive offices not later than February 7, 2027 and (iii) the shareholder's notice must contain the specific information set forth in the Corporation's Amended and Restated Bylaws.

If a shareholder otherwise wishes to propose proper business which has not been submitted for possible inclusion in the Corporation's 2027 proxy materials from the floor for consideration at the 2027 Annual Meeting, the Corporation's Amended and Restated Bylaws (available on the Corporation's website at <u>www.ampcopgh.com</u>) provide that (i) the shareholder must notify the Corporation's Secretary in writing, (ii) the shareholder's notice must be received at the Corporation's executive offices not earlier than January 8, 2027 and not later than February 7, 2027 and (iii) the shareholder's notice must contain the specific information set forth in the Corporation's Amended and Restated Bylaws.

# HOUSEHOLDING OF PROXY MATERIALS
The SEC has adopted rules that permit companies and intermediaries (such as brokers and banks) to satisfy the delivery requirements for proxy statements and annual reports with respect to two or more shareholders sharing the same address by delivering a single proxy statement addressed to those shareholders. This process, which is commonly referred to as "householding," potentially means extra convenience for shareholders and cost savings for companies.

A number of banks, trustees and other holders of record who are our shareholders may be "householding" our proxy materials and annual reports for their customers. This means that only one copy of our proxy materials may have been sent to multiple shareholders sharing an address unless contrary instructions have been received from one or more of the affected shareholders. Once you have received notice from your bank or broker that it will be householding communications to your address, householding will continue until you are notified otherwise or until you revoke your consent. If you prefer to receive separate copies of a proxy materials or annual report, either now or in the future, please call us at 412-456-4400, or send your request in writing to the following address: Ampco-Pittsburgh Corporation c/o Corporate Secretary at 726 Bell Avenue, Suite 301, P.O. Box 457, Carnegie, PA 15106. If you are still receiving multiple reports and proxy statements for shareholders who share an address and would prefer to receive a single copy of the annual report and proxy statement in the future, please contact us at the above address or telephone number. If you are a beneficial owner, you should contact your bank, broker or other holder of record.

# REFERENCES TO OUR WEBSITE ADDRESS
References to our website address throughout this Proxy Statement and the accompanying materials are for informational purposes only, or to fulfill specific disclosure requirements of the SEC's rules or the rules of NYSE. These references are not intended to, and do not, incorporate the contents of our website by reference into this Proxy Statement or the accompanying materials.

# INCORPORATION BY REFERENCE
The "Report of the Audit Committee" is not deemed to be filed with the SEC and shall not be deemed incorporated by reference into any prior or future filings made by the Corporation under the Securities Act or the Exchange Act, except to the extent the Corporation specifically incorporates such information by reference.

# OTHER M ATTERS
The Board does not know of any other business that will be presented for action at the Annual Meeting. Should any other matter come before the meeting; however, action may be taken thereon pursuant to proxies in the form enclosed unless discretionary authority is withheld.

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![img249340759_5.jpg](img249340759_5.jpg)

AMPCO-PITTSBURGH CORPORATION C/O BROADRIDGE PO. BOX 1342 BRENTWOOD, NY 1171 SCAN TO VIEW MATERIALS & VOTE WE ENCOURAGE YOU TO TAKE ADVANTAGE OF INTERNET OR TELEPHONE VOTING; BOTH ARE AVAILABLE 24 HOURS A DAY, 7 DAYS A WEEK. IF YOU CHOOSE TO CUMULATE VOTES FOR DIRECTORS YOU MUST VOTE BY MAIL VOTE BY INTERNET Before The Meeting - Go to www.proxyvote.com Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11 :59 P.M. Eastern Time on May 7, 2026. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form. During The Meeting - Ballots will be provided during the meeting. Please follow the instructions for attending the meeting and submitting your vote. VOTE BY PHONE - 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions up until 11 :59 P.M. Eastern Time on May 7, 2026. Have your proxy card in hand when you call and then follow the instructions. VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, do Broadridge, 51 Mercedes Way, Edgewood, NY 11717. If you vote your proxy by Internet or by telephone, you do NOT need to mail back your proxy card TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: V84418-P45262 KEEP THIS PORTION FOR YOUR RECORDS DETACH AND RETURN THIS PORTION ONLY THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. AMPCO-PITTSBURGH CORPORATION For Withhold For All All All Except To withhold authority to vote for any individual nominee(s), mark "For All Except" and write the number(s) of the nominee(s) on the line below. Vote on Directors 1. Election of Directors Nominees: 01) J. Brett McBrayer 02) Darrell L. McNair Vote on Proposals 2. To approve, in a non-binding, advisory vote, the compensation of the named executive officers. 3. To ratify the appointment of BDO USA, PC. as the independent registered public accounting firm for 2026. For Against Abstain NOTE: Such other business as may properly come before the meeting or any adjournment thereof. All proxies heretofore given or executed with respect to the shares of stock represented by this proxy are by the filing of this proxy, expressly revoked. THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" ALL OF THE NOMINEES LISTED IN ITEM 1; AND A VOTE "FOR" ITEMS 2 and 3, To cumulate votes as to a particular nominee as explained in the Proxy Statement, check box to the right, multiply the number of shares held by you by two and vote the result for the nominees listed in any proportion, then indicate the name(s) and the number of votes to be given to such nominee(s) on the reverse side of this card. Please do not check box unless you want to exercise cumulative voting. NOTE: Signature should conform exactly to name as stenciled hereon, Executors, administrators, guardians, trustees, attorneys and officers signing for a corporation should give full title, For joint accounts each owner must sign. Signature [PLEASE SIGN WITHIN BOX] Date Signature (Joint Owners) Date

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![img249340759_6.jpg](img249340759_6.jpg)

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to be Held on May 8, 2026: The Notice and Proxy Statement and the Annual Report on Form 10-K of the Corporation are available at http://www.ampcopgh.com/investors; and The Notice and Proxy Statement and Annual Report on Form 10-K are also available at www.proxyvote.com. V84419-P45262 AMPCO-PITTSBURGH CORPORATION Annual Meeting of Shareholders May 8, 2026 10:00 A.M. EDT The undersigned hereby appoints Keith A. Zatawski and Kimberly P. Knox, each of them, as proxies with full power of substitution to vote, as specified on the reverse side, the shares of stock which the undersigned is entitled to vote at the Annual Meeting of Shareholders of AMPCO-PITTSBURGH CORPORATION, to be held at the Founders Room, 1st Floor, The Duquesne Club, 325 Sixth Avenue, Pittsburgh, PA 15222, on Friday, May 8, 2026, at 10:00 A.M. EDT, and any adjournments thereof. WHEN PROPERLY EXECUTED, THIS PROXY WILL BE VOTED IN THE MANNER DIRECTED. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED: "FOR" THE NOMINEES LISTED IN ITEM 1 (OR, IN THE DISCRETION OF THE PROXIES, THE SHARES MAY BE VOTED CUMULATIVELY); "FOR" PROPOSAL 2 AND "FOR" PROPOSAL 3. THE PROXIES NAMED ABOVE ARE AUTHORIZED TO VOTE IN THEIR DISCRETION ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE SIGN ON REVERSE SIDE and mail in the enclosed, postage prepaid envelop. CUMULATE (If you noted cumulative voting instructions above, please check the corresponding box on the reverse side.)

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