Company: ZEUS
Filing Date: 2025-10-28
Form Type: 425
Source: 0001437749-25-032012
Chunk: 1

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-28
Form: 425
Chunk 1
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 market share, and we remain well-positioned and optimistic for the future.”

The Board of Directors approved a regular quarterly cash dividend of $0.16 per share, which is payable on December 15, 2025, to shareholders of record as of December 1, 2025. The Company has paid a regular quarterly dividend since March 2006.

As separately announced, the Company and Ryerson Holding Corporation (“Ryerson”) have entered into a definitive merger agreement pursuant to which the Company will become a wholly owned subsidiary of Ryerson. The transaction is expected to close in the first quarter of 2026, subject to the satisfaction or waiver of customary and other closing conditions, including regulatory and shareholder approvals. Due to this pending transaction, our regularly scheduled earnings call for Friday, October 31, has been canceled.

<div align='center'>Olympic Steel, Inc.•22901 Millcreek Blvd., Suite 650•Highland Hills, OH 44122</div>

The table that follows provides a reconciliation of non-GAAP measures to the most directly comparable measures prepared in accordance with GAAP.

<div align='center'>Olympic Steel, Inc.

Reconciliation of Net Income Per Diluted Share to Adjusted Net Income Per Diluted Share

(Figures may not foot due to rounding.)

The following table reconciles adjusted net income per diluted share to the most directly comparable GAAP

financial measure:</div>

|                                                  |     | Three Months Ended 
 2025               | September 30 |     | 2024 |       |   |     | Nine Months Ended 
 2025              | September 30 |     | 2024 |       |   |
|:-------------------------------------------------|:----|:-------------------|-------------:|:----|:-----|------:|:--|:----|:------------------|-------------:|:----|:-----|------:|:--|
| Net income per diluted share (GAAP)              |     | $                  |         0.18 |     | $    |  0.23 |   |     | $                 |         0.84 |     | $    |  1.64 |   |
| Excluding the following items                    |     |                    |              |     |      |       |   |     |                   |              |     |      |       |   |
| LIFO expense / (income)                          |     |                    |         0.01 |     |