Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 113

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 113
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ing Proposal; (iii) during the five Business Days following the
Competing Proposal Notice (the “”), if requested by the other Party, the board of directors effecting the recommendation change and its Representatives have negotiated in good faith with the other Party and its
Representatives regarding any revisions to the terms of the Transactions proposed by the other Party in response to such Competing Proposal; and (iv) at the end of such five Business Day period, the Parent Board or the Company Board, as
applicable, concludes in good faith, after consultation with its outside legal counsel and, as to

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financial matters, its outside financial advisors (and taking into account any adjustment or modification of the terms of this Agreement to which the other Party has irrevocably and in writing
agreed to make to the terms of the Transactions), that the Competing Proposal continues to be a Superior Proposal and, after consultation with its outside legal counsel, that the failure to make a Parent Adverse Recommendation Change or a Company
Adverse Recommendation Change, as applicable, would be inconsistent with the directors’ fiduciary duties to the stockholders of Parent or the stockholders of the Company, as applicable, under applicable Law. Any material amendment or
modification to any Competing Proposal shall require a new Competing Proposal Notice and the Negotiation Period shall be extended by an additional two Business Days from the date of receipt of such new Competing Proposal Notice.

(c) In addition to the obligations of Parent and the Company set forth in and
, Parent or the Company shall promptly, and in any event no later than twenty-four (24) hours, after it receives (x) a Competing Proposal, (y) any request for
non-public information relating to Parent or the Company or its respective Subsidiaries, other than requests unrelated to a Competing Proposal, or (z) any inquiry or request for discussions or
negotiations regarding any potential Competing Proposal, notify the other Party orally and in writing of any of the foregoing occurrences, the identity of the Person making such request, inquiry or proposal and provide an unredacted copy of such
request, inquiry or Competing Proposal (or where no such copy is available, a reasonably detailed description of such request, inquiry or Competing Proposal, including the identity of the Person making such request, inquiry or Competing Proposal)
and any material modifications to such request, inquiry or Competing Proposal. Each Party shall keep the other Party reasonably informed (and in any event, at the