SunCoke Energy is the largest independent coke producer in the Americas. Coke is a carbon-rich fuel made by heating metallurgical coal in refractory ovens, and is a critical input in blast furnace steelmaking. SunCoke's distinguishing technology is its heat recovery cokemaking process, which combusts coal's volatile gases during production and captures the resulting heat to generate steam or electricity for sale. SunCoke operates five domestic cokemaking facilities with combined nameplate capacity of approximately 3.7M tons per year. The core customer base is a small set of large integrated U.S. steelmakers, primarily Cleveland-Cliffs and U.S. Steel, under long-term take-or-pay contracts that require customers to purchase contracted volumes or pay regardless of delivery. These contracts provide predictable revenue with a fixed fee per ton as the primary profit driver, while coal costs are generally passed through to customers. SunCoke also produces foundry coke at its Jewell facility, sold to foundries under annual agreements. Beyond coke, SunCoke operates an Industrial Services segment that includes three bulk commodity logistics terminals and approximately 15 on-site slag and scrap handling sites at steel mills globally — the latter added via the 2025 acquisition of Phoenix Global. SunCoke's growth strategy focuses on deleveraging following the Phoenix acquisition, maintaining its dividend, and pursuing a granulated pig iron project at Granite City alongside organic expansion of Phoenix's steel mill services footprint.