Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001437749-25-032438
Chunk: 7

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 7
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ovenants 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 the Company, if Ryerson’s board of directors makes a Parent Adverse Recommendation Change; (g) by Ryerson, if the Board makes a Company Adverse Recommendation Change; or (h) by either the Company 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’s board of directors changing or withdrawing its recommendation in connection with the Merger, or due to Ryerson committing a willful and material breach of its non-solicitation obligations, Ryerson will be required to pay to the Company $15,000,000. If the Merger Agreement is terminated due to the Board changing its recommendation in connection with the Merger, or due to the Company committing a willful and material breach of its non-solicitation obligations, then the Company will be required to pay Ryerson $15,000,000. In addition, if the Merger Agreement is terminated due to either party’s failure to obtain stockholder approval (and Ryerson’s board of directors has not changed or withdrawn its recommendation in connection with the Merger), Ryerson or the Company, as applicable, will be required to reimburse the other party for its expenses incurred in connection with the Transactions in an amount not to exceed $10,000,000.

The foregoing description of the Merger and the Merger Agreement, and the Transactions thereby, does not purport to be complete and is qualified in its entirety by the actual Merger Agreement, a copy of which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Merger Agreement has been included to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Company, Ryerson or their respective subsidiaries or affiliates or to modify or supplement any factual disclosures about the Company or Ryerson included in their public reports filed with the SEC.

<div align='center'>Forward-Looking Statements</div>

This Current Report on Form 8-K contains certain “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking