Company: ZEUS
Filing Date: 2025-10-28
Form Type: 425
Source: 0001437749-25-032009
Chunk: 1

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-28
Form: 425
Chunk 1
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 Steel and Ryerson will remain separate companies, meaning we must continue to act independently and not collaborate with Ryerson employees on anything related to the business, including not jointly interacting with customers or suppliers. |

| ● | If your customers or suppliers reach out with questions, it’s “business as usual.” |

| ● | We can’t discuss the merger and won’t have additional information until we close. |

| ● | Until then, we will continue to take and fill orders and support our customers as usual. |

| ● | This is extremely important. |

| ● | Once we close, Olympic Steel and all our subsidiary brands will continue to operate under their existing brand names, and Rich, Rick and I are all staying with the combined company. |

| ● | Michael Siegal will move from Executive Chairman of the Olympic Steel Board to Chairman of Ryerson’s Board. |

| ● | These are some of the high-level points we wanted to touch on, but we’ve included additional information in the FAQ document you’ll receive following this call. |

| ● | I strongly encourage you to review those materials in detail, so you have all the same information we’re providing to your employees. |

| ● | Now, as it relates specifically to you as members of the Sr. Leadership Team… |

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| ● | For those on incentive plans tied to Olympic Steel stock, you will receive an individual statement before the merger closes. Annual incentives will be paid and continue in 2026 as usual. |

| ● | Next - the budget process will continue as planned. |

| ● | If anything changes – for example, the timing of budget calls – we will make you aware as soon as possible. |

| ● | Until the merger closes, please put a pause on any significant CAPEX requests or personnel changes. |

| ● | COLA will continue as planned, but please hold off on promotions or staffing changes until we provide further guidance after the close. |

| ● | Please also pause any additions to staff during this time period. |

| ● | If you need to backfill a critical position or propose a CAPEX spend, discuss it with your Segment President first. |

| ● | This is a lot to take in, but it’s all great news for Olympic Steel. |

| ● | This will move us from the #13 North American service center to #2. |

| ● | That’s the kind of growth that produces meaningful benefits for all our stakeholders –