Company: ZEUS
Filing Date: 2025-10-29
Form Type: 425
Source: 0001193125-25-256374
Chunk: 6

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-29
Form: 425
Chunk 6
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 we look at being very complementary. And when we look at our footprint and we look at what we do, certainly on the commodity side, that’s a really, really strong synergy as
we look forward in this transaction.

Let me share another one with you. It’s no secret that since the pandemic, we’ve all had
to look at things that maybe were not as prolific before the pandemic. And one of the things that’s happened is the demographics in our industry. It’s no secret that they skew older. When you look at the voluntary rate of attrition in
this industry, just folks that just leave on their own and people that retire, in this industry, it’s between 5 and 15%. So I want that number to sink in for a second, 5 to 15%. Nothing the company does whatsoever. It’s just people that
retire or they decide they want to try something new.

So if you take the natural rate of attrition in this industry, you can see where we
can create a really powerful synergy in efficiency. Just given the natural rate of voluntary attrition in this industry. You can take the combined employee census. You can take the average comp that we published for the MDNA, and you can do that
math and you can model it and you can see how we create a synergy right in line with what we’re bringing to our stakeholders and what we’re articulating to our stakeholders.

So when we look at this, everything on this slide is true. Presence, highly complementary match, opportunities for margin expansion, the
synergies that I just spoke about, and there’s many more. And we’ll talk more about some of those other ones as we go through the presentation. Accelerated growth, really the combination of talent pools. I mean, I’ve known because
we’ve competed against Olympic for the entire time that I’ve been here over the last 13 years. And Olympic has incredible talent in their organization. They’ve got a great brand, a great culture. And I’d like to say that
I’m proud of what Ryerson is and what we’ve been and where we’re going over our 183 years.

And so, when you look at the
talent pools that we’re combining in this merger, it is very unique and it’s highly accretive and valuable. And then we have an opportunity to deleverage. There’s a lot of collateral in this deal, a lot of collateral in this deal
that gives us the