Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 6

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 6
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 adverse effect on either Ryerson or Olympic.

Representations, Warranties and Covenants

The Merger Agreement contains customary representations and warranties of Ryerson and Olympic relating to their respective businesses and public filings. The
Merger Agreement also contains customary pre-closing covenants, including the obligation of Ryerson and Olympic to conduct their businesses in the ordinary course of business consistent with past practice and
to refrain from taking certain specified actions without the consent of the other party.

Ryerson and Olympic have each agreed to customary non-solicitation obligations related to soliciting or engaging in any discussions or negotiations regarding competing proposals. Notwithstanding such non-solicitation
obligations, prior to obtaining stockholder approval and under certain specified circumstances, the Ryerson Board or the Olympic Board, in each case, may change its recommendation of the transaction and Olympic may terminate the Merger Agreement in
connection with any such change in recommendation of the Olympic Board.

Termination

The Merger Agreement contains provisions granting each of Ryerson and Olympic the right to terminate the Merger Agreement under specified circumstances,
including: (a) if a permanent legal prohibition enjoins the consummation of the Merger; (b) if the Merger is not completed by April 28, 2026 (which date may be extended to July 28, 2026 if certain regulatory approvals have not
been obtained); (c) if either party fails to obtain stockholder approval; (d) by Olympic, if, prior to Olympic receiving shareholder approval, Olympic enters into a definitive written agreement providing for the consummation of a Superior
Proposal (as defined in the Merger Agreement) in accordance with Section 5.4 of the Merger Agreement; (e) by either Olympic or Ryerson, as applicable, if the other party has breached its representations or warranties or failed to perform
its covenants in the Merger Agreement in a way that would entitle the party seeking to terminate the Merger Agreement not to consummate the Merger, subject to cure rights of the breaching party; (f) by Olympic if Ryerson’s board of
directors makes a Parent Adverse Recommendation Change; (g) by Ryerson, if Olympic’s board of directors makes a Company Adverse Recommendation Change; or (h) by either Olympic or Ryerson, as applicable, if the other party committed a
willful and material breach of its non-solicitation obligations.

If the Merger Agreement is terminated due to Ryerson