TIMKEN CO - Regulatory Filings 2021

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

ý ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2020

o TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 1-1169

THE TIMKEN COMPANY VOLUNTARY INVESTMENT PENSION PLAN

(Full title of the Plan)

THE TIMKEN COMPANY, 4500 Mt. Pleasant St., NW,

North Canton, OH 44720-5450

(Name of issuer of the securities held pursuant to the Plan and the address of its principal executive office)

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The Timken Company

Voluntary Investment Pension Plan

Table of Contents

Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Net Assets Available for Benefits	2
Statement of Changes in Net Assets Available for Benefits	3
Notes to Financial Statements	4
Supplemental Schedule
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)	13
Exhibit 23 - Consent of Independent Registered Public Accounting Firm

Report of Independent Registered Public Accounting Firm

To the Participants and Administrator of

The Timken Company Voluntary Investment Pension Plan

North Canton, Ohio

Opinion on the Financial Statements

We have audited the accompanying Statements of Net Assets Available for Benefits of The Timken Company Voluntary Investment Pension Plan (the “Plan”) as of December 31, 2020 and 2019, the related Statement of Changes in Net Assets for the year ended December 31, 2020, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020 and 2019, and the changes in net assets available for benefits for the year ended December 31, 2020, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental information in the accompanying Schedule of Assets (Held at End of Year) as of December 31, 2020 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

We have served as the Plan’s auditor since 2016.

BOBER, MARKEY, FEDOROVICH & COMPANY

Akron, Ohio

June 23, 2021

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The Timken Company

Voluntary Investment Pension Plan

Statements of Net Assets Available for Benefits

Assets	December 31, — 2020	2019
Investments, at fair value:
Interest in The Master Trust Agreement for The Timken Company Defined Contribution Plans	$ 23,766,399	$ 23,096,204
Receivables:
Contributions receivable from participants	1,952	11,146
Contributions receivable from The Timken Company	—	4,461
Notes receivable from participants	157,236	228,309
Total receivables	159,188	243,916
Net assets available for benefits	$ 23,925,587	$ 23,340,120
See accompanying Notes to Financial Statements.

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The Timken Company

Voluntary Investment Pension Plan

Statement of Changes in Net Assets Available for Benefits

Year Ended December 31, 2020

Additions
Investment Income:
Net appreciation from The Master Trust Agreement for The Timken Company Defined Contribution Plans	$ 3,562,958
Interest income on notes receivable from participants	10,859
Participant rollovers	13,141
Contributions:
Participant contributions	207,804
The Timken Company	19,678
Total contributions	227,482
Total additions	3,814,440
Deductions
Benefits paid directly to participants	(3,227,654)
Administrative expenses	(1,319)
Total deductions	(3,228,973)
Net increase	585,467
Net assets available for benefits:
Beginning of year	23,340,120
End of year	$ 23,925,587
See accompanying Notes to Financial Statements.

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements

1. Description of the Plan

The following description of The Timken Company Voluntary Investment Pension Plan (the "Plan") provides only general information. The Timken Company (the "Company" and "Plan Administrator") and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union (the "Union") entered into a new 401(k) Agreement (the "401(k) Agreement") on September 28, 2020 that amended and restated the Plan as of January 1, 2021. Participants should refer to this agreement for a more complete description of the Plan's provisions.

General

The Plan is a defined contribution plan covering certain nonbargaining employees of the Company who are represented by the Union. Employees of the Company become eligible to participate in the Plan beginning the first month following completion of a 120-working day probationary period, provided that they have completed 1,000 hours of service in a twelve month period starting with the employee's original date of hire. Effective June 30, 2014, an Employee who was a transferred participant or a transferred employee will be immediately eligible to participate in the Plan upon being reemployed by the Company. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA").

Contributions

Each year, participants may contribute any whole percentage of their gross earnings, as defined in the Plan, subject to Internal Revenue Service ("IRS") limitations. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans. Upon enrollment, a participant must direct their contribution in 1% increments to any of the Plan’s fund options. Participants have access to their account information and the ability to make account transfers and contribution changes daily through an automated telecommunication system and through the Internet. On January 1, 2021, the Plan was amended to eliminate the Timken Company Common Stock Fund and TimkenSteel Corporation Stock Fund as investment options, effective December 30, 2022.

For each calendar quarter, the Company will contribute a “Quarterly Contribution” to eligible participants. The Quarterly Contribution, which is based on the sum of the employee’s aggregated years of continuous service and age as of December 31 of the previous plan year, is a percentage of the employee’s gross earnings for the calendar quarter (from 2.0% to 5.0%) and is made as soon as reasonably practicable after the end of the calendar quarter.

Participant Accounts

Each participant’s account is credited with the participant’s contributions and allocations of plan earnings, and is charged administrative expenses, as appropriate. Allocations are based on account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Vesting

Participants vest immediately in their contributions plus actual earnings thereon. Participants vest in the Quarterly Contributions and related earnings after the completion of three years of service.

Notes Receivable from Participants

Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 minus their highest outstanding loan balance during the past 12 months or 50% of their account balance. Loan terms generally cannot exceed four years. Each loan bears interest at an interest rate of 1% in excess of the prime rate, as published in the Wall Street Journal on the first business day of the month in which the loan is granted. Principal and interest are paid ratably through payroll deductions.

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements (continued)

Payment of Benefits

On termination of service, a participant may receive a lump-sum amount equal to the balance of their account, elect to receive installment payments of their assets over a fixed period of time not to exceed their estimated life expectancy, or elect to receive partial distributions. If a participant’s account balance is greater than $1,000, they may leave their vested assets in the Plan until age 72 after which time the lump sum or installment distribution options would apply.

Hardship withdrawals are allowed for participants incurring an immediate and severe financial need, as defined by the Plan. Hardship withdrawals are strictly regulated by the IRS and a participant must exhaust all distributions prior to requesting a hardship withdrawal.

Participants may elect to have dividends in the Timken Company Common Stock Fund distributed to them in cash rather than automatically reinvested in Timken common shares. The ability to have dividends reinvested in the Timken Company Common Stock Fund will end as of December 30, 2022.

Coronavirus Aid, Relief and Economic Security (CARES) Act

On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a global pandemic. The COVID-19 pandemic has affected and may continue to affect the market price of the Timken Company Common Stock Fund and other Plan assets. Following this declaration, the U.S. Federal government passed the “Coronavirus Aid, Relief, and Economic Security ("CARES") Act” on March 27, 2020. The CARES Act allows eligible plan participants to request penalty-free distributions of up to $100,000 before December 31, 2020, which may be repaid over three years for qualifying reasons associated with the COVID-19 pandemic, permits plan sponsors to increase the limit for plan loans to the lesser of $100,000 or 100% of a participant's vested balance, permits suspension of loan payments due through December 31, 2020, and permits individuals to stop receiving 2020 required minimum distributions. The Plan implemented these changes during 2020.

Administrative Expenses

The Plan's administrative expenses are paid by either the Plan or the Company. Administrative expenses paid by the Plan include recordkeeping and trustee fees. Expenses relating to purchases, sales or transfers of the Plan's investments are charged to the particular investment fund to which the expenses relate. All other administrative expenses of the Plan are paid by the Company. Expenses that are paid by the Company are excluded from these financial statements.

Plan Termination

Under the 401(k) Agreement, the Plan shall continue in full force and effect until January 1, 2024, and for yearly periods thereafter unless either the Company or the Union shall notify the other party in writing within 60 days before the termination date of the 401(k) Agreement that they desire to terminate the agreement.

The Plan may generally be amended by mutual consent of the Company and the Union. In the event of Plan termination, the Plan’s trustee, Great-West Trust Company, LLC ("Trustee") shall distribute to each participant the amount standing to their credit in their separate account.

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements (continued)

2. Accounting Policies

Basis of Accounting

The financial statements have been prepared on the accrual basis of accounting.

Payment of Benefits

Benefits are recorded when paid.

Investment Valuation and Income Recognition

The Plan’s investments are stated at fair value and are invested in The Master Trust Agreement for the Company Defined Contribution Plans ("Master Trust"), which was established for the investment of assets of the Plan and the six other defined contribution plans sponsored by the Company.

The Trustee maintains a collective investment trust of common shares of The Timken Company within the Master Trust in which the Company’s defined contribution plans participate on a unit basis. Common shares of the Timken Company are traded on a national securities exchange and participation units in The Timken Company Common Stock Fund are valued at the last reported sales price on the last business day of the plan year.

Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date.

Notes Receivable from Participants

Participant notes receivable represents participant loans that are recorded at their unpaid principal balance plus any accrued but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2020 or 2019. If a participant ceases to make loan repayments and the Plan Administrator deems the participant loan to be a distribution, the participant loan balance is reduced and a benefit payment is recorded.

Use of Estimates

The preparation of financial statements in conformity with US generally accepted accounting principles ("U.S. GAAP") requires management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

New Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurement," which is part of the FASB disclosure framework project to improve the effectiveness of disclosures in the notes to the financial statements. The amendments in the new guidance remove, modify and add certain disclosure requirements related to fair value measurements covered in Topic 820, "Fair Value Measurement." The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Plan adopted ASU 2018-13 for the plan year beginning January 1, 2020. ASU 2018-13 had an immaterial impact on the disclosures for this Plan.

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements (continued)

3. Investments

The Plan’s assets are held in the Master Trust, commingled with assets of other Company-sponsored benefit plans.

Each participating plan’s interest in the investment funds (i.e., separate accounts) of the Master Trust is based on account balances of the participants and their elected investment funds. The Master Trust assets are allocated among the participating plans by assigning to each plan those transactions (primarily contributions, benefit payments, and plan-specific expenses) that can be specifically identified and by allocating among all plans, in proportion to the fair value of the assets assigned to each plan, income and expenses resulting from the collective investment of the assets of the Master Trust. The Plan’s ownership percentage in the Master Trust as of December 31, 2020 and 2019, was 1.90% and 1.96%, respectively.

The following tables present the value of investments in the Master Trust and the Plan’s interest in each investment fund of the Master Trust:

	December 31, 2020 — Master Trust Balance	Plan's Interest in Master Trust Balance	December 31, 2019 — Master Trust Balance	Plan's Interest in Master Trust Balance
Cash and cash equivalents	$ 774,770	$ 20,845	$ 141,531	$ 3,933
Company stock	84,746,193	2,280,054	89,181,556	2,477,987
Registered investment companies	190,684,910	1,118,011	184,886,548	1,650,030
Common collective funds	971,913,858	20,347,489	904,828,050	18,964,254
Total Assets	$ 1,248,119,731	$ 23,766,399	$ 1,179,037,685	$ 23,096,204

Changes in net assets for the Master Trust are as follows:

	Year Ended December 31, 2020
Net transfers (contributions, transfers and benefit payments for the participating plans)	$ (109,774,650)
Net appreciation in fair value of instruments	172,537,856
Interest and dividends	7,501,056
Total investment gain (net of transfers)	70,264,262
Administrative expenses	(1,182,216)
Net increase	69,082,046
Net assets:
Beginning of the year	1,179,037,685
End of the year	$ 1,248,119,731

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements (continued)

4. Fair Value

The fair value framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The three levels of the fair value hierarchy under Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures, are described as follows:

Level 1 - Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

Level 2 - Inputs to the valuation methodology include:

• quoted prices for similar assets or liabilities in active markets;

• quoted prices for identical or similar assets or liabilities in inactive markets;

• inputs other than quoted prices that are observable for the asset or liability;

• inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.

Level 3 - Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs.

The following tables present the fair value hierarchy for those investments of the Master Trust measured at fair value on a recurring basis as of December 31, 2020 and 2019:

	Assets at Fair Value as of
	December 31, 2020
	Level 1	Level 2	Level 3	Total
Assets:
Investments, at fair value:
Cash and cash equivalents	$ 774,770	$ —	$ —	$ 774,770
Company stock	84,746,193	—	—	84,746,193
Registered investment companies	190,684,910	—	—	190,684,910
	$ 276,205,873	$ —	$ —	$ 276,205,873
Investments measured using NAV per share as practical expedient:
Common collective funds				971,913,858
Total Assets				$ 1,248,119,731

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements (continued)

	Assets at Fair Value as of
	December 31, 2019
	Level 1	Level 2	Level 3	Total
Assets:
Investments, at fair value:
Cash and cash equivalents	$ 141,531	$ —	$ —	$ 141,531
Company stock	89,181,556	—	—	89,181,556
Registered investment companies	184,886,548	—	—	184,886,548
	$ 274,209,635	$ —	$ —	$ 274,209,635
Investments measured using NAV per share as practical expedient:
Common collective funds				904,828,050
Total Assets				$ 1,179,037,685

The Timken Company and TimkenSteel Common Stock Funds participate in units and are valued based on the closing price of each company's common shares traded on a national securities exchange. Cash and cash equivalents and registered investment companies are valued based on quoted market prices reported on the active market on which the individual securities are traded. On June 30, 2014, the Company completed the spinoff of its steel business into a separate independent publicly traded company, TimkenSteel Corporation ("TimkenSteel"). The Company’s shareholders received one common share of TimkenSteel for every two common shares of the Company they held as of the close of business on June 23, 2014. The TimkenSteel Common Stock Fund continues to be an investment option of the Plan, and the activity of TimkenSteel Common Stock Fund was immaterial to the Plan in 2020. The Plan was amended on January 1, 2021 to eliminate the Timken Company and the TimkenSteel Corporation Stock Funds, effective December 30, 2022.

The T. Rowe Price Blue Chip Growth Trust seeks long-term growth of capital by investing primarily in common stocks of well-established large and medium-sized companies. Income is a secondary objective of the trust.

The Vanguard Target Retirement Trust II Funds invest in broad index funds of U.S. and international stocks and bonds. The asset allocation of each fund is managed in accordance with the designated strategy for each fund’s target retirement year. The funds are automatically rebalanced to designated glide paths.

The JPMorgan S&P 500 Index Fund and the JPMorgan Equity Index Fund include investments that provide exposure to a broad equity market and are designed to mirror the aggregate price and dividend performance of the S&P 500 Index.

The JPMCB Core Bond Fund invests primarily in a diversified portfolio of intermediate and long-term debt securities.

The SSgA Russell 2000-A Index Fund includes investments seeking an investment return that approximates as closely as practicable, before expenses, the performance of the Russell 2000 Index over the long term. The fund includes exposure to stocks of small U.S. companies.

The T.Rowe Price Stable Value Funds primarily invests in security backed investment contracts.

The Western Asset Core Plus Bond strategy seeks to maximize total return through a well-diversified, long-term value based core fixed-income portfolio that includes limited opportunistic exposure to the “plus” sectors: high-yield, non-U.S. and emerging market debt. The strategy seeks to approximate the risk of the Bloomberg Barclays U.S. Aggregate Index.

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements (continued)

The following tables summarize investments measured at fair value using the net asset value ("NAV") per share practical expedient as of December 31, 2020 and 2019, respectively:

December 31, 2020	Fair Value	Unfunded Commitments	Redemption Frequency	Redemption Notice Period
Vanguard Target Retirement Funds	$ 378,270,993	Not applicable	Daily	Trade Day
JPMCB Core Bond	$ 94,772,301	Not applicable	Daily	Trade Day
JPMorgan Equity Index	$ 178,988,326	Not applicable	Daily	Trade Day + 1 Day
JPMorgan S&P 500 Index	$ 8,085,151	Not applicable	Daily	Trade Day
SSgA Russell Small Cap Index	$ 53,425,965	Not applicable	Daily	Trade Day
T. Rowe Price Blue Chip Growth Trust	$ 97,924,505	Not applicable	Daily	Trade Day
Western Asset Core Plus Bond	$ 36,198,400	Not applicable	Daily	Trade Day
JPMCB Equity Index Fund-CF	$ 3,793,722	Not applicable	Daily	Trade Day
T. Rowe Stable Value Share Class Z	$ 2,700,255	Not applicable	Daily	Trade Day
T. Rowe Stable Value Common Trust N	$ 117,754,240	Not applicable	Daily	Trade Day

December 31, 2019	Fair Value	Unfunded Commitments	Redemption Frequency	Redemption Notice Period
Vanguard Target Retirement Funds	$ 344,779,265	Not applicable	Daily	Trade Day
JPMCB Core Bond	$ 96,294,590	Not applicable	Daily	Trade Day
JPMorgan Equity Index	$ 183,362,933	Not applicable	Daily	Trade Day + 1 Day
JPMorgan S&P 500 Index	$ 9,217,378	Not applicable	Daily	Trade Day
SSgA Russell 2000-A Index	$ 53,231,616	Not applicable	Daily	Trade Day
T. Rowe Price Blue Chip Growth Trust	$ 79,990,726	Not applicable	Daily	Trade Day
Wells Fargo Stable Return	$ 3,550,487	Not applicable	Daily	Trade Day
Wells Fargo Stable Value	$ 115,093,081	Not applicable	Daily	Trade Day
Western Asset Core Plus Bond	$ 18,535,579	Not applicable	Daily	Trade Day
JPMCB Equity Index Fund-CF	$ 291,093	Not applicable	Daily	Trade Day
Fidelity Managed Income Portfolio Fund	$ 481,302	Not applicable	Daily	Trade Day

5. Risks and Uncertainties

The Master Trust invests in various investment securities in line with participants' investment elections. Investment securities are exposed to various risks such as interest rate, market volatility, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.

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The Timken Company Voluntary Investment Pension Plan

Notes to Financial Statements (continued)

6. Income Tax Status

The Plan has received a determination letter from the IRS dated April 3, 2017, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the "Code"), and therefore, the related trust is exempt from taxation. Subsequent to this determination by the Internal Revenue Service, the Plan was amended. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan Administrator believes the Plan is being operated in compliance with the applicable requirements of the Code and therefore believes the Plan, as amended, is qualified and the related trust is tax-exempt. The Plan Administrator will take steps to ensure that the Plan's operations remain in compliance with the Code, including taking appropriate action, when necessary, to bring the Plan's operations into compliance.

Accounting principles generally accepted in the United States require plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2020 and 2019, there are no uncertain positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan Administrator believes it is no longer subject to income tax examinations for y ears prior to 2017.

7. Related-Party Transactions

Related-party transactions included the investments in the common stock of the Company and the investment funds of the Trustee. Such transactions are exempt from being prohibited transactions.

The following is a summary of transactions in Timken common shares with the Plan for the year ended December 31, 2020:

Purchased	$
Issued to participants for payment of benefits	$ 225,185

Purchases and benefits paid to participants include Timken common shares valued at quoted market prices at the date of purchase or distribution.

Certain legal and accounting fees and certain administrative expenses relating to the maintenance of participant records are paid by the Company. Fees paid during the year for services rendered by parties in interest were based on customary and reasonable rates for such services.

8. Subsequent Events

Management evaluates subsequent events and transactions occurring subsequent to the date of the financial statements through the financial statement issuance date that affect recognition or disclosure to the financial statements. No subsequent events were identified.

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Supplemental Schedule

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The Timken Company

Voluntary Investment Pension Plan

EIN #34-0577130 Plan #019

Schedule H, Line 4i - Schedule of Assets

(Held at End of Year)

Year Ended December 31, 2020

Identity of Issuer, Borrower, Lessor, or Similar Party	Description of Investment, Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value	Cost	Current Value
Participant notes receivable*	Interest rates ranging from 4.25% to 6.50% with various maturity dates	$ —	$ 157,236

Indicates party in interest to the Plan

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SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other person who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

THE TIMKEN COMPANY VOLUNTARY INVESTMENT PENSION PLAN — /s/ Philip D. Fracassa
Philip D. Fracassa
Executive Vice President and Chief Financial Officer
(Principal Financial Officer and Principal Accounting Officer)

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