Olympic Steel (ZEUS) investor relations material

Executive summary

• A merger agreement was entered into for the company to become a wholly owned subsidiary of Ryerson Holding Corporation, with a special shareholder meeting scheduled for February 12, 2026, to vote on the merger.

• Supplemental proxy disclosures were issued in response to shareholder litigation challenging the adequacy of merger-related disclosures, though the company and Ryerson deny any deficiencies.

• Forward-looking statements highlight risks including regulatory approvals, integration challenges, market volatility, and global economic conditions.

Voting matters and shareholder proposals

• Shareholders are asked to vote on the approval of the merger and related transactions at the special meeting.

• The joint proxy statement/prospectus was mailed to shareholders and contains detailed information about the merger.

Board of directors and corporate governance

• Directors, executive officers, and certain employees may be considered participants in the proxy solicitation for the merger.

• Information on share ownership by directors and officers is available in the proxy materials.