Company: ZEUS
Filing Date: 2025-10-29
Form Type: 425
Source: 0001193125-25-256374
Chunk: 12

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-29
Form: 425
Chunk 12
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forma mix on end
markets and products here. And Eddie touched on it already, but really excited about the growth markets and customers benefiting from our combined new mix. Obviously, we’ve got a lot of potential growth happening in the United States in terms
of infrastructure reinvestment, reshoring, outsourcing of fabrication. And then, of course, the massive data center demand build out where we’re seeing significant growth.

I think as you bring the two companies together, you look at the product mix, it’s enriched. Eddie talked about the balance of the
specialty and the carbon. But you look at really the overall mix now, a great balance across flat and long stainless and aluminum carbon especially coated carbon. And then the increased value add processing and fabricating capabilities, I think
fantastic. And then combine that with Olympic Steel’s recent growing focus on end product manufacturing, wow, these are all margin enhancers.

So I think in summary, the combined company is going to be more diverse. We’re going to have more high margin processing capabilities.
We’re going to have a richer mix of metal products. And that’s going to really provide a powerful and expansive one stop solution for our customers. And when I look at that all together, I think all this what it means is it contributes
to an improved and less cyclical earnings stream for the combined company going forward. Eddie?

Edward Lehner: Thanks, Rick. So when we look at moving up
the value chain and what does this industry look like as you start to visualize margin accretion on the pick, pack and ship side? It’s a speed game, right? You quote fast, you quote short lead times. You have the inventory on the floor. You
get it to the customer. You need to do that with running water like consistency. But as you move that up and you pick up margin points when you do that. But the key there is consistency and scale. But as you move up through processing and finish
parts and kits and assemblies and value add, our value-add franchise is combined. I mean, individually they’re significant. But combined, there is another force multiplier when you look at going up that
adjacency curve and going to every next step of service capability and value add capability.

And then you get to end products where
I’m highly complimentary of the work that Olympic has done, forging a path into manufactured products and end products. And Rick’s going to speak to that in just about a few seconds here, but you