Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 154

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 154
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written opinion from Parent Tax Counsel delivered to Parent in connection with the consummation of the Merger pursuant to , dated as of the Closing Date, based on the facts, representations, assumptions and
exclusions set forth or described in such opinion, to the effect that the Merger will qualify for the Intended Tax Treatment. In rendering such opinion, Parent Tax Counsel shall be entitled to rely upon customary assumptions, representations,
warranties and covenants reasonably satisfactory to it, including representations and covenants set forth in the customary Tax representation letters obtained from Parent, Merger Sub and the Company pursuant to

“” and “” means Parent, Merger Sub and the
Company, collectively or individually as the context may require.

“” means (a) Liens for current
Taxes, or governmental assessments, charges or claims of payment not yet past due, or the amount or validity of which is being contested in good faith by appropriate Proceedings and for which adequate reserves in accordance with GAAP have been
established in the latest financial statements of Parent included in the Parent SEC Documents or the Company included in Company SEC Documents, as the case may be, (b) mechanics’, workmen’s, repairmen’s, warehousemen’s
and carriers’ Liens arising in the ordinary course of business consistent with past practice for sums not yet due and payable, (c) matters of record, matters that would be revealed by a current, accurate survey of real property or a
physical inspection thereof, Liens and other imperfections of title that do not secure or evidence indebtedness and do not and would not reasonably be expected to, individually or in the aggregate, materially impair the value or continued ownership,
use and operation of the assets to which they relate, (d) restrictions on transfers under applicable securities Laws, (e) zoning, building codes and other land use Laws regulating the use or occupancy of the applicable real property or the
activities conducted thereon, which are imposed by any governmental authority having jurisdiction over such real property, which are not violated in any material respect by the current use or occupancy of such real property or the operation of the
business thereon, (f) with respect to any leased real property, statutory or contractual landlord’s or lessor’s liens and (g) Liens incurred pursuant to the Company Credit Agreement.

“” means an individual, corporation (including not-for profit), limited
company, limited liability company, partnership, association, estate, trust, unincorporated organization, Government