Company: ZEUS
Filing Date: 2025-10-29
Form Type: 425
Source: 0001193125-25-256374
Chunk: 0

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-29
Form: 425
Chunk 0
---
Filed by Ryerson Holding Corporation pursuant to Rule 425

under the Securities Act of 1933, as amended,

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934, as amended

Subject Company: Olympic Steel, Inc. (File No. 000-23320)

The following communication is a transcript of the third quarter of 2025 earnings call for Ryerson Holding Corporation (“Ryerson”) that was held on October 29, 2025 in which the proposed transaction (the “merger”) with Olympic Steel, Inc. (“Olympic” or “Olympic Steel”) was discussed.

Conference Title: Ryerson Holding Corporation’s Third Quarter 2025 Conference Call

Date: Wednesday, 29th October 2025

Operator: Please stand by.
Good day, and welcome to the Ryerson Holding Corporation’s Third Quarter 2025 Conference Call. Today’s conference is being recorded. There will be a
question-and-answer session later. If you would like to ask a question, please press star one on your telephone keypad at any time. Again, that is star one to ask a
question. At this time, I’d like to turn the conference over to Justine Carlson. Please go ahead.

Justine Carlson: Good morning. Thank you for
joining Ryerson Holding Corporation’s Third Quarter 2025 Earnings Call. On our call, we have Eddie Lehner, Ryerson’s president and chief executive officer, Jim Claussen, our chief financial officer, and Molly Kannan, our chief accounting
officer and corporate controller. Our recording of this call will be posted on our Investor Relations website at IR.Ryerson.com. Please read the forward-looking statement disclosures included in our earnings release issued yesterday and note that it
applies to all statements made during this call. In addition, our remarks today refer to several non-GAAP measures. Reconciliations of these adjusted numbers are also included in our earnings release.
I’ll now turn the call over to Eddie.

Edward Lehner: Thank you, Justine. Good morning and thank you all for joining us to discuss our third quarter
2025 performance and our announced merger agreement with Olympic Steel. I would like to start our call today with an abbreviated version of our prepared financial comments before asking Rick Marabito, chief executive officer of Olympic Steel, to
join us to discuss the announced merger agreement, its strategy and the benefits we believe it will yield for our stakeholders