Company: ZEUS
Filing Date: 2025-10-29
Form Type: 425
Source: 0001193125-25-256374
Chunk: 8

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-29
Form: 425
Chunk 8
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And then in terms of executive leadership, Eddie will continue to serve as the chief executive officer of the new company. And I’m very
excited to serve as president and COO. And the Olympic executive team, I can tell you, is enthusiastically looking forward to continuing with the new combined company. And again, since the merger is all-stock
in nature, the combined company will really benefit with reduced leverage as we model that out as synergies take hold. We’re looking at leverage of approximately three times post-close. And then the credit profile of the combined company
should also be enhanced through scale diversification, improved margins and profitability and obviously greater cash flow. So a lot of positives here. So, Eddie, why don’t you take us through the next slide?

Edward Lehner: Hey. Thanks, Rick. So when we go to the footprint, we look at the footprint. And I think a picture really is worth 1,000 words or more. But
when we go under the hood of what does the prospective comp combined - what do the respective combined companies look like? If you look at this graphic, you can see and what always doesn’t show up in the financial statements, because you
really have to drill down and you have to look at the drivers of what create the financial statements for respective companies in our industry. Think about the importance of selection, availability, lead time and on time delivery. I mean, we have
great brands, but really when the customer calls or emails us for a quote, if we have it on the floor itself, if we can create short lead times, it sells. We have wider selection, it sells. We can buy out from one another. Makes it easier to make
that sale. If we can use each other’s outside processing network, it makes it easier to create that sale.

So when you look at this
graph, you have density and you have points to the customer that are closer to them relying in greater, I mean, and we can realize greater reliability and consistency in how we make those connections with our customers. When you look, if you go
west, we have an opportunity to take more of the combined company west. And we also have more of an opportunity to go to Mexico together, where we already have a presence. And Olympic, I’m sure, has customers that are looking to get to Mexico
in a more meaningful way. So when you look at the footprint and the commercial synergies that are attainable in this transaction