# EDGAR Filing Document

**Accession Number:** 0000912603
**File Stem:** 0001140361-25-023184
**Filing Date:** 2025-6
**Character Count:** 75439
**Document Hash:** 748e4c79b9c193710418bc1e825fc057
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-023184.hdr.sgml**: 20250620

**ACCESSION NUMBER**: 0001140361-25-023184

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250616

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250620

**DATE AS OF CHANGE**: 20250620

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RADIUS RECYCLING, INC.
- **CENTRAL INDEX KEY:** 0000912603
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-MISC DURABLE GOODS [5090]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 930341923
- **STATE OF INCORPORATION:** OR
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-22496
- **FILM NUMBER:** 251061863

**BUSINESS ADDRESS:**
- **STREET 1:** 222 SW COLUMBIA ST
- **STREET 2:** SUITE 1150
- **CITY:** PORTLAND
- **STATE:** OR
- **ZIP:** 97201
- **BUSINESS PHONE:** 5032249900

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 10047
- **CITY:** PORTLAND
- **STATE:** OR
- **ZIP:** 97296

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCHNITZER STEEL INDUSTRIES, INC.
- **DATE OF NAME CHANGE:** 20230808

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RADIUS RECYCLING
- **DATE OF NAME CHANGE:** 20230727

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCHNITZER STEEL INDUSTRIES, INC.
- **DATE OF NAME CHANGE:** 20190214

?xml version='1.0' encoding='ASCII'?

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

### FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): June 16, 2025

Commission File Number 000-22496

## RADIUS RECYCLING, INC.

#### (Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **OREGON**<br>| **93-0341923**<br>|
| **(State or other jurisdiction of incorporation or organization)** | **(I.R.S. Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **222 SW Columbia Street, Suite 1150, Portland, Oregon** | **97201**<br>|
| **(Address of principal executive offices)** | **(Zip Code)** |

---

(503) 224-9900

**(Registrant**'**s telephone number, including area code)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Class A Common Stock, $1.00 par value<br>| RDUS<br>| The NASDAQ Stock Market LLC<br>|

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act. ☐

------

#### Item 2.02 Results of Operations and Financial Condition

#### Item 7.01 Regulation FD Disclosure

#### Preliminary Results for the Third Quarter of Fiscal 2025
Radius Recycling, Inc. (the "Company") today announced preliminary results for its fiscal 2025 third quarter ended May 31, 2025. The Company expects net loss to be approximately ($16) million and adjusted EBITDA to be approximately $22 million, reflecting significant improvements sequentially and year-over-year. The Company expects to report financial results for its fiscal 2025 third quarter ended May 31, 2025 on Tuesday, July 1, 2025. As a result of the pending merger with Toyota Tsusho America, Inc. ("TAI"), the Company will not be holding a third quarter earnings conference call or webcast.

The forward-looking statements included herein provide preliminary information based on the Company's current estimates and expectations and remain subject to change and finalization based on management's ongoing review of results of the quarter and completion of all quarter-end close processes.

#### Pending Merger
As previously announced, on March 13, 2025, the Company, TAI and TAI Merger Corporation, a wholly owned subsidiary of TAI ("Merger Sub"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which, on the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company (the "Merger"), with the Company continuing as the surviving corporation in the Merger as a wholly owned subsidiary of TAI.

As previously announced, on June 5, 2025, the Company held a special meeting of shareholders, at which the Company's shareholders approved the proposal to approve the Merger Agreement. The closing of the Merger remains subject to the satisfaction or waiver of customary closing conditions set forth in the Merger Agreement, including the receipt of certain regulatory approvals. Assuming timely satisfaction of necessary closing conditions, the parties to the Merger Agreement expect the Merger to close during the second half of calendar year 2025.

------

#### Non-GAAP Financial Measures
This current report on Form 8-K contains performance based on adjusted EBITDA, which is a non-GAAP financial measure as defined under SEC rules. As required by SEC rules, the Company has provided a reconciliation of this measure for each period discussed to the most directly comparable U.S. GAAP measure. Management believes that providing this non-GAAP financial measure adds a meaningful presentation of the Company's results from business operations excluding restructuring charges and other exit-related activities, charges for legacy environmental matters (net of recoveries), amortization of capitalized cloud computing implementation costs, asset impairment charges, business development costs not related to ongoing operations including pre-acquisition and merger expenses, and the income tax benefit allocated to these adjustments, items which are not related to underlying business operational performance, and improves the period-to-period comparability of our results from business operations. This non-GAAP financial measure should be considered in addition to, but not as a substitute for, the most directly comparable U.S. GAAP measure.

---

| | | | |
|:---|:---|:---|:---|
| Reconciliation of adjusted EBITDA |  |  |  |
| ($ in millions) | Three Months Ended | Three Months Ended | Three Months Ended |
|  | **May 31, 2025**<br> (expected) | **February 28,**<br> **2025** | **May 31,**<br> **2024** |
| Net income (loss) | $(16) | $(33) | $(199) |
| Plus interest expense | 9 | 9 | 7 |
| Plus income tax expense (benefit) |  | (4) | (45) |
| Plus depreciation and amortization | 24 | 24 | 24 |
| Plus business development costs | 5 | 3 |  |
| Plus restructuring charges and other exit-related activities |  | 1 | 3 |
| Plus other asset impairment charges |  |  |  |
| Plus charges (recoveries) for legacy environmental matters, net<sup>(1)</sup> |  |  |  |
| Plus amortization of cloud computing software costs<sup>(2)</sup> |  |  |  |
| Plus goodwill impairment charges |  |  | 216 |
| Adjusted EBITDA<sup>(3)</sup> | $22 | $— | $9 |

---

<sup>(1)</sup> Legal and environmental charges, net of recoveries, for legacy environmental matters including those related to the Portland Harbor Superfund site and to other legacy environmental loss contingencies.

<sup>(2)</sup> Amortization of cloud computing software costs consists of expense recognized in cost of goods sold and selling, general, and administrative expense resulting from amortization of capitalized implementation costs for cloud computing IT systems. This expense is not included in depreciation and amortization.

<sup>(3)</sup> May not foot due to rounding.

------

#### Forward-Looking Statements
Statements and information included in this current report on Form 8-K by Radius Recycling, Inc. that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Except as noted herein or as the context may otherwise require, all references in this 8-K to "we," "our," "us," "the Company," "Radius Recycling," and "Radius" refer to Radius Recycling, Inc. and its consolidated subsidiaries.

Forward-looking statements in this current report on Form 8-K include statements regarding future events or our expectations, intentions, beliefs, and strategies regarding the future, which may include statements regarding our proposed Merger with TAI; the impact of equipment upgrades, equipment failures, and facility damage on production, including timing of repairs and resumption of operations; the realization of insurance recoveries; the Company's outlook, growth initiatives, or expected results or objectives, including pricing, margins, volumes, and profitability; completion of acquisitions and integration of acquired businesses; the progression and impact of investments in processing and manufacturing technology improvements and information technology systems; the impact of sanctions and tariffs, quotas, and other trade actions and import restrictions; the impacts of supply chain disruptions, inflation, and rising interest rates; liquidity positions; our ability to generate cash from continuing operations; trends, cyclicality, and changes in the markets we sell into; strategic direction or goals; targets; changes to manufacturing and production processes; the realization of deferred tax assets; planned capital expenditures; the cost of and the status of any agreements or actions related to our compliance with environmental and other laws; expected tax rates, deductions, and credits; the impact of pandemics, epidemics, or other public health emergencies; the impact of labor shortages or increased labor costs; obligations under our retirement plans; benefits, savings, or additional costs from business realignment, cost containment, and productivity improvement programs; the potential impact of adopting new accounting pronouncements; and the adequacy of accruals.

Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as "outlook," "target," "aim," "believes," "expects," "anticipates," "intends," "assumes," "estimates," "evaluates," "may," "will," "should," "could," "opinions," "forecasts," "projects," "plans," "future," "forward," "potential," "probable," and similar expressions. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking.

We may make other forward-looking statements from time to time, including in reports filed with the Securities and Exchange Commission, press releases, presentations, and on public conference calls. All forward-looking statements we make are based on information available to us at the time the statements are made, and we assume no obligation to update any forward-looking statements, except as may be required by law. Our business is subject to the effects of changes in domestic and global economic conditions and a number of other risks and uncertainties that could cause actual results to differ materially from those included in, or implied by, such forward-looking statements. Some of these risks and uncertainties are discussed in "Item 1A. Risk Factors" of Part I of our most recent Annual Report on Form 10-K and Part II of our most recent Quarterly Report on Form 10-Q. Examples of these risks include: the completion of the Merger is subject to various risks and uncertainties related to, among other things, its terms, timing, structure, benefits, costs and completion; the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the disruption of management's attention from the Company's ongoing business operations due to the Merger; the effect of the announcement of the Merger on the Company's relationships with its customers, third-party suppliers, industrial vendors and other third parties, as well as its operating results and business generally; the potential difficulties in employee retention as a result of the Merger; the Merger Agreement may be terminated in circumstances that may require the Company to pay TAI a termination fee; the fact that, if the Merger is completed, shareholders will forgo the opportunity to realize the potential long-term value of the successful execution of the Company's current strategy as an independent company; required approvals to complete the Merger by our shareholders and the receipt of certain regulatory approvals, to the extent required, and the timing and conditions for such approvals; the stock price of the Company may decline significantly if the merger is not completed; the possibility that TAI could, at a later date, engage in unspecified transactions, including restructuring efforts, special dividends or the sale of some or all of the Company's assets to one or more purchasers, that could conceivably produce a higher aggregate value than that available to shareholders in the Merger; the inability to consummate the Merger within the anticipated time period, or at all, due to any reason, including the failure to satisfy the closing conditions to the Merger; potential environmental cleanup costs related to the Portland Harbor Superfund site or other locations; the impact of equipment upgrades, equipment failures, and facility damage on production; failure to realize or delays in realizing expected benefits from capital and other projects, including investments in processing and manufacturing technology improvements and information technology systems; the cyclicality and impact of general economic conditions; the impact of inflation and interest rate and foreign currency fluctuations; changing conditions in global markets including the impact of sanctions and tariffs, quotas, and other trade actions and import restrictions; increases in the relative value of the U.S. dollar; economic and geopolitical instability including as a result of military conflict; volatile supply and demand conditions affecting prices and volumes in the markets for raw materials and other inputs we purchase; significant decreases in recycled metal prices; imbalances in supply and demand conditions in the global steel industry; difficulties associated with acquisitions and integration of acquired businesses; supply chain disruptions; reliance on third-party shipping companies, including with respect to freight rates and the availability of transportation; restrictions on our business and financial covenants under the agreement governing our bank credit facilities; potential limitations on our ability to access capital resources and existing credit facilities; the impact of impairment of goodwill and assets other than goodwill; the impact of pandemics, epidemics, or other public health emergencies; inability to achieve or sustain the benefits from productivity, cost savings, and restructuring initiatives; inability to renew facility leases; customer fulfillment of their contractual obligations; the impact of consolidation in the steel industry; product liability claims; the impact of legal proceedings and legal compliance; the impact of climate change; the impact of not realizing deferred tax assets; the impact of tax increases and changes in tax rules; the impact of one or more cybersecurity incidents; the impact of increasing attention to environmental, social, and governance matters; translation risks associated with fluctuation in foreign exchange rates; the impact of hedging transactions; inability to obtain or renew business licenses and permits; environmental compliance costs and potential environmental liabilities; increased environmental regulations and enforcement; compliance with climate change and greenhouse gas emission laws and regulations; the impact of labor shortages or increased labor costs; reliance on employees subject to collective bargaining agreements; and the impact of the underfunded status of multiemployer plans in which we participate.

------

Item 1.01 Entry into a Material Definitive Agreement

On June 16, 2025 (the "Effective Date"), the Company and certain of its subsidiaries entered into the sixth amendment (the "Sixth Amendment") to its Third Amended and Restated Credit Agreement, dated as of April 6, 2016, by and among the Company, as the US Borrower, Schnitzer Steel Canada Ltd., as the Canadian borrower, the subsidiaries of the Company party thereto (the "Guarantors"), Bank of America, N.A., as administrative agent and the other lenders party thereto (the "Lenders") (as amended prior to the Sixth Amendment, the "Existing Credit Agreement", the Existing Credit Agreement, as amended pursuant to the Sixth Amendment, the "Amended Credit Agreement"). The Sixth Amendment makes certain modifications to the Existing Credit Agreement, including amendments that, among other things, (i) reduce the aggregate amount of revolving commitments available from $800 million to $625 million, (ii) increase certain addbacks included in the calculation of EBITDA (as defined in the Existing Credit Agreement), (iii) provide for certain additional periodic financial reporting, (iv) suspend (or extend the current suspension of) the maintenance covenants requiring compliance with a minimum permitted fixed charge coverage ratio and interest coverage ratio and (v) provide that the maintenance covenant requiring compliance with a minimum consolidated asset coverage ratio shall continue to be tested.

The foregoing summary of the Sixth Amendment does not purport to be complete and is qualified in its entirety by reference to the full and complete text of the Sixth Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

---

---

| | |
|:---|:---|
| <u>Exhibits</u> |  |
| [10.1](ef20050704_ex10-1.htm) | Sixth Amendment, dated as of June 16, 2025, to Third Amended and Restated Credit Agreement dated as of April 6, 2016 by and among Radius Recycling, Inc., as the US Borrower, Schnitzer Steel Canada Ltd., as the Canadian Borrower, Bank of America, N.A., as Administrative Agent, and the other Lenders party thereto. |
| 104 | The cover page of this Current Report on Form 8-K, formatted in Inline XBRL. |

---

------

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **RADIUS RECYCLING, INC.** | **RADIUS RECYCLING, INC.** |
|  | (Registrant) | (Registrant) |
| Dated: June 20, 2025 | By: | /s/ Stefano R. Gaggini |
|  |  | Name: Stefano R. Gaggini |
|  |  | Title: Senior Vice President and Chief Financial Officer |

---

------

## Exhibit 10.1

------

#### Exhibit 10.1

#### Execution Version

<u>SIXTH AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT</u>

THIS SIXTH AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this "<u>Amendment</u>"), dated as of June 16, 2025 (the "<u>Sixth Amendment Effective Date</u>"), is entered into among RADIUS RECYCLING, INC. (f/k/a SCHNITZER STEEL INDUSTRIES, INC.), an Oregon corporation (the "<u>US Borrower</u>"), SCHNITZER STEEL CANADA LTD., a British Columbia corporation (the "<u>Canadian Borrower</u>"; the Canadian Borrower, together with the US Borrower, each a "<u>Borrower</u>" and collectively, the "<u>Borrowers</u>"), the Guarantors party hereto, the US Lenders party hereto, BANK OF MONTREAL, as the Canadian Lender, and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer. All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Existing Credit Agreement (as defined below) or the Amended Credit Agreement (as defined below), as applicable.

<u>RECITALS</u>

WHEREAS, the Borrowers, the US Lenders from time to time party thereto, the Canadian Lender, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer, entered into that certain Third Amended and Restated Credit Agreement, dated as of April 6, 2016 (as amended, restated, amended and restated, supplemented, extended, replaced or otherwise modified prior to the Sixth Amendment Effective Date, the "<u>Existing Credit Agreement</u>");

WHEREAS, the Loan Parties have requested that the Existing Credit Agreement be amended as set forth below, subject to the terms and conditions specified in this Amendment; and

WHEREAS, the parties hereto are willing to amend the Existing Credit Agreement, subject to the terms and conditions specified in this Amendment.

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp; <u>Amendments to Existing Credit Agreement</u>. The Existing Credit Agreement is hereby amended as follows (as so amended, the "<u>Amended Credit Agreement</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of the following defined terms in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

"<u>Aggregate Commitments A-1</u>" means the US A-1 Commitments of all the US A-1 Lenders. The aggregate principal amount of the Aggregate Commitments A-1 in effect on the Sixth Amendment Effective Date is $585,937,500.

"<u>Aggregate Commitments A-2</u>" means the US A-2 Commitments of all the US A-2 Lenders. The aggregate principal amount of the Aggregate Commitments A-2 in effect on the Sixth Amendment Effective Date is $39,062,500.

------

"<u>Applicable Percentage</u>" means with respect to any US A-1 Lender or US A-2 Lender, as applicable, at any time, (a) the percentage (carried out to the ninth decimal place) of the Aggregate Commitments A-1 represented by such US A-1 Lender's US A-1 Commitment at such time, subject to adjustment as provided in <u>Section 2.18</u>, and (b) the percentage (carried out to the ninth decimal place) of the Aggregate Commitments A-2 represented by such US A-2 Lender's US A-2 Commitment at such time, subject to adjustment as provided in <u>Section 2.18</u>. If the commitment of each US Lender to make Loans and the obligation of each L/C Issuer to make L/C Credit Extensions have been terminated pursuant to <u>Section 8.02</u> or if the Aggregate Commitments A-1 or Aggregate Commitments A-2, as applicable, have expired, then the applicable Applicable Percentage of each US Lender shall be determined based on the applicable Applicable Percentage of such US Lender most recently in effect, giving effect to any subsequent assignments. The Applicable Percentage of each US Lender as of the Sixth Amendment Effective Date is set forth opposite the name of such Lender on <u>Schedule 2.01</u> or in the Assignment and Assumption or other documentation pursuant to which such US Lender becomes a party hereto, as applicable.

"<u>EBITDA</u>" means, for any period, for any Person, an amount equal to Net Income of such Person for such period <u>plus</u> (a) the following (without duplication in each case) to the extent deducted in calculating such Net Income: (i) Interest Charges of such Person for such period, (ii) the provision for Federal, state, local and foreign income taxes payable by such Person for such period, (iii) the amount of depreciation and amortization expense deducted in determining such Net Income, (iv) other non-recurring expenses (including non-recurring inventory write-downs) of such Person reducing such Net Income which do not represent a cash item in such period or any future period, (v) non-cash expenses of such Person resulting from the application of Statement of Financial Accounting Standards No. 123 (revised), (vi) expenses or charges recorded by such Person in respect of Environmental Liabilities in such period (net of any related recoveries from insurance or other reimbursements in respect thereof recorded in such period), <u>provided</u>, <u>that</u>, the aggregate amount added back to Net Income pursuant to this <u>clause (a)(vi)</u> with respect to Environmental Liabilities other than Willamette River Remediation Obligations shall not exceed $50,000,000 in such period, (vii) any non-recurring fees, expenses or charges related to any issuance of debt or Equity Interests, any Permitted Acquisition or any sale or other transfer of a Disposed Business (in each case, whether or not consummated), (viii) non-cash exchange, translation or performance losses relating to any foreign currency hedging transaction or currency fluctuations, (ix) (A) Productivity Improvement Expenses of such Person during such period, and (B) losses of such Person from Discontinued Operations during such period; <u>provided</u>, that, the aggregate amount added back to Net Income pursuant to this <u>clause (a)(ix)</u> shall not exceed $50,000,000 during the term of this Agreement, (x) any losses realized on Dispositions of assets made pursuant to <u>Sections 7.05(c)</u>, <u>7.05(f)</u>, <u>7.05(h)</u> or <u>7.05(i)</u> during the applicable period and (xi) all direct legal, regulatory and travel expenses incurred in connection with the RDUS Merger Transaction in the applicable period (<u>provided</u>, <u>that</u>, no such expenses incurred prior to December 1, 2024 shall be included), and <u>minus</u> (b) the following (without duplication) to the extent included in calculating such Net Income: (i) Federal, state, local and foreign income tax credits for such Person during such period, (ii) non-cash exchange, translation or performance gains relating to any foreign currency hedging transaction or currency fluctuations of such Person for such period, (iii) all non-cash items of such Person increasing such Net Income in such period or any future period, and (iv) any gains realized on Dispositions of assets made pursuant to <u>Sections 7.05(c)</u>, <u>7.05(f)</u>, <u>7.05(h)</u> or <u>7.05(i)</u> during the applicable period; <u>provided</u>, <u>however</u>, <u>that</u>, notwithstanding this <u>clause (b)(iv)</u>, it is understood and agreed that an aggregate amount of up to $75,000,000 of gains realized on Dispositions of assets made pursuant to <u>Sections 7.05(c)</u>, <u>7.05(f)</u>, <u>7.05(h)</u> or <u>7.05(i)</u> may be included in EBITDA after the Fifth Amendment Effective Date and during the remaining term of this Agreement (it being understood that such $75,000,000 amount shall, once included in EBITDA, not refresh (i.e., such amount is not a "per four fiscal quarter period" refreshing amount)) so long as the Compliance Certificate(s) in which such gains are included in the calculation of EBITDA provides a reasonably detailed description of (I) the assets sold in such sale, (II) the net book value of such sold assets and (III) the consideration received by such Person for such sold assets. For any four fiscal quarter period, any non-cash reversal of a non-recurring fee, expense or charge which had been incurred during the four fiscal quarter period shall be included in Net Income during such period.

------

"<u>Fee Letter</u>" means each of (a) the letter agreement, dated July 2, 2022, among the US Borrower and BofA Securities, Inc., (b) the letter agreement, dated May 31, 2024, among the US Borrower and BofA Securities, Inc., (c) the letter agreement, dated December 18, 2024, among the US Borrower and BofA Securities, Inc. and (d) the letter agreement, dated May 30, 2025, among the US Borrower and BofA Securities, Inc.

"<u>Fourth Amendment Period</u>" means the period commencing with the fiscal quarter ending May 31, 2024 through and including the fiscal quarter ending February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; The following new definitions are hereby added to Section 1.01 of the Existing Credit Agreement in the appropriate alphabetical order to read as follows:

"<u>RDUS Merger Transaction</u>" means the acquisition, directly or indirectly, of the US Borrower and its Subsidiaries by Toyota Tsusho America, Inc., a New York corporation, as contemplated by that certain Agreement and Plan of Merger, dated as of March 13, 2025, by and among the US Borrower, Toyota Tsusho America, Inc., a New York corporation, and TAI Merger Corporation, a Delaware corporation, and the related transactions.

"<u>Sixth Amendment Effective Date</u>" means June 16, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In Section 6.01 of the Existing Credit Agreement, (i) the "and" at the end of clause (b) is hereby delated and (ii) new clauses (d), (e) and (f) are added to read as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; commencing with the calendar month ending September 30, 2025, as soon as available, but in any event within 30 days after the end of each calendar month (or in the case of each such calendar month that ends contemporaneously with the end of a fiscal quarter of the US Borrower, within 40 days after the end of each such calendar month), a condensed consolidated balance sheet of the US Borrower and its Subsidiaries as at the end of such month, and the related condensed consolidated statements of income or operations and cash flows for such month and for the portion of the US Borrower's fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding month of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail, certified by a Responsible Officer of the US Borrower as fairly presenting the financial condition, results of operations, shareholders' equity and, to the extent applicable, cash flows of the US Borrower and its Subsidiaries, subject only to normal quarter-end entries and adjustments and the absence of certain footnotes;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; together with the delivery of the monthly financial statements required pursuant to <u>clause (d)</u> above (but not commencing until the calendar month ending December 31, 2025), a 13-week cash flow forecast showing projected cash receipts and cash disbursements (including referencing line item sources and uses of cash) of the US Borrower and its Subsidiaries over the immediately succeeding 13-week period, together with (after the initial month) a reconciliation of actual cash receipts and cash disbursements of US Borrower and its Subsidiaries from the immediately preceding month against the projections for such month and showing any deviations on a cumulative basis (together with a written variance analysis of any negative variances in excess of 15%), in each case, prepared by the US Borrower and in form, and with such detail (including material assumptions), as reasonably acceptable to the Administrative Agent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; by December 31, 2025, projections for the fiscal years ending August 31, 2026 and August 31, 2027, which projections shall include forecasts prepared by management of the US Borrower, in form reasonably acceptable to the Administrative Agent, of the condensed consolidated balance sheets and statements of income or operations and cash flows of the US Borrower and its Subsidiaries on, in the case of the fiscal year ending August 31, 2026, a monthly basis and, in the case of the fiscal year ending August 31, 2027, a quarterly basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 6.02(a)(i) of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (A) at all times, financial covenant analyses and information with respect to the calculation of the Consolidated Asset Coverage Ratio, the Consolidated Leverage Ratio, the Consolidated Funded Debt to EBITDA Ratio, the Consolidated Fixed Charge Coverage Ratio and the Consolidated Net Funded Debt to EBTIDA Ratio and (B) in addition for any fiscal quarter or fiscal year ending during the Fourth Amendment Period, financial covenant analyses and information with respect to the calculation of the Consolidated Interest Coverage Ratio (whether or not tested pursuant to <u>Section 7.11(d)</u> during such period) and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A new Section 6.18 is hereby added to the Existing Credit Agreement to read as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.18**&nbsp;&nbsp;&nbsp;&nbsp; **Cooperation with Financial Advisor**. Reasonably cooperate with a financial advisor engaged by the Administrative Agent (or its counsel), which financial advisor shall assist the Administrative Agent, or its counsel, in (among other things) evaluating, validating and providing advice with respect to the operations and financial performance of the US Borrower and its Subsidiaries, and provide access to the US Borrower' and its Subsidiaries' facilities, books and records, officers and consultants and provide any information reasonably necessary for such financial advisor to execute on its engagement. For the avoidance of doubt, the US Borrower shall reimburse the Administrative Agent for fees, costs and expenses associated with its financial advisor; <u>provided</u>, <u>that</u>, no such costs shall be incurred prior to October 1, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 7.11(c) of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Consolidated Asset Coverage Ratio</u>. Permit the Consolidated Asset Coverage Ratio to be less than 1.00 to 1.00 as of the end of any fiscal quarter of the US Borrower.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 7.11(d) of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Consolidated Interest Coverage Ratio</u>. Permit the Consolidated Interest Coverage Ratio (A) as of the end of the fiscal quarter of the US Borrower ending May 31, 2024 to be less than 2.00 to 1.00 and (B) as of the end of each of the fiscal quarters of the US Borrower ending February 28, 2025 and February 28, 2026 to be less than 1.25 to 1.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A new paragraph is hereby added to the end of Section 10.07 of the Existing Credit Agreement to read as follows:

For the avoidance of doubt, nothing herein prohibits any individual from communicating or disclosing information regarding suspected violations of laws, rules, or regulations to a governmental, regulatory, or self-regulatory authority without any notification to any person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schedule 2.01 to the Existing Credit Agreement is hereby amended and restated to read as set forth on <u>Schedule 2.01</u> attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Conditions Precedent</u>. This Amendment shall be effective upon satisfaction, or waiver, of the following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; The Administrative Agent's receipt of executed counterparts of this Amendment, which shall be originals or telecopies (followed promptly by originals), properly executed by a Responsible Officer of each Loan Party, the Required Lenders and the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In connection with the permanent reductions of the Aggregate Commitments A-1 to $585,937,500 and the Aggregate Commitments A-2 to $39,062,500 on the Sixth Amendment Effective Date, which reductions shall be applied to the US A-1 Commitment and US A-2 Commitment, as applicable, of each US Lender according to its Applicable Percentage, the US Borrower shall make such prepayments (accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05 of the Amended Credit Agreement) as are required so that the US A-1 Total Outstandings and the US A-2 Total Outstandings, as applicable, would not exceed the Aggregate Commitments A-1 or the Aggregate Commitments A-2, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) Any fees required to be paid on or before the Sixth Amendment Effective Date shall have been paid, and (ii) reimbursement by the Loan Parties for all reasonable and documented out-of-pocket expenses of the Administrative Agent and the Canadian Lender in connection with the preparation, execution and delivery of this Amendment, including all Attorney Costs of the Administrative Agent and the Canadian Lender (paid directly to such counsel if requested by the Administrative Agent or the Canadian Lender, as applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) Completion by the Lenders of a due diligence investigation of the US Borrower and its Subsidiaries in scope, and with results, satisfactory to the Lenders, including, without limitation, OFAC, Foreign Corrupt Practices Act and "know your customer" due diligence, (ii) receipt by the Administrative Agent and the Lenders of documentation and other information requested by the Administrative Agent and the Lenders in order to comply with applicable law, including without limitation, the Patriot Act, and (iii) with respect to any Borrower that qualifies as a "legal entity customer" under the Beneficial Ownership Regulation, receipt by the Administrative Agent and each Lender that so requests, of a Beneficial Ownership Certification in relation to such Borrower.

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For purposes of determining compliance with the conditions specified in this <u>Section 2</u>, each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Sixth Amendment Effective Date specifying its objection thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp; <u>Payment of Expenses</u>. The Loan Parties agree to reimburse the Administrative Agent and the Canadian Lender for all reasonable and documented out-of-pocket expenses of the Administrative Agent and the Canadian Lender in connection with the preparation, execution and delivery of this Amendment, including all Attorney Costs of the Administrative Agent and the Canadian Lender (paid directly to such counsel if requested by the Administrative Agent or the Canadian Lender, as applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; The Loan Documents and the obligations of the Loan Parties thereunder are hereby ratified and confirmed and shall remain in full force and effect according to their terms. This Amendment is a Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; Each Loan Party (i) agrees that the Collateral Documents continue to be in full force and effect and are not impaired or adversely affected in any manner whatsoever, (ii) confirms its grant of security interests pursuant to the Collateral Documents to which it is a party as Collateral for the relevant Obligations, and (iii) acknowledges that all Liens granted (or purported to be granted) pursuant to the Collateral Documents remain and continue in full force and effect in respect of, and to secure, the relevant Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; Each Loan Party (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) affirms all of its obligations under the Loan Documents, and (iii) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each Loan Party represents and warrants that: (i) such Loan Party has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to execute, deliver and perform its obligations under this Amendment; (ii) the execution, delivery and performance by such Loan Party of this Amendment have been duly authorized by all necessary corporate or other organizational action, and do not and will not (A) contravene the terms of such Loan Party's Organization Documents, (B) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (1) any Contractual Obligation to which such Loan Party is a party or affecting such Loan Party or the properties of such Loan Party or any of its Subsidiaries or (2) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject, or (C) violate any Law, except in each case referred to in <u>clause (B)</u> or <u>(C)</u> to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; (iii) no approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority and no material approval, consent, exemption, authorization or other action by, or notice to, or filing with, any other Person, in each case, is necessary or required in connection with the execution, delivery or performance by, or enforcement against, such Loan Party of this Amendment, other than authorizations, approvals, actions, notices and filings which have been duly obtained; (iv) this Amendment has been duly executed and delivered by such Loan Party and constitutes a legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other Laws affecting the enforcement of creditors' rights generally; and (v) after giving effect to this Amendment, (A) the representations and warranties of (1) the US Borrower contained in Article V of the Amended Credit Agreement, and (2) each Loan Party contained in each Loan Document, or, in each case, in any document furnished at any time under or in connection therewith, are true and correct in all material respects (except to the extent any such representation and warranty itself is qualified by "materiality," "Material Adverse Effect" or similar qualifier, in which case it shall be true and correct in all respects) as of the Sixth Amendment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except to the extent any such representation and warranty itself is qualified by "materiality," "Material Adverse Effect" or similar qualifier, in which case it shall be true and correct in all respects) as of such earlier date, and except that for purposes of this <u>Section 4(d)(v)(A)</u>, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Amended Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Amended Credit Agreement, and (B) no Default has occurred and is continuing.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each Lender party hereto represents and warrants that, after giving effect to this Amendment, the representations and warranties of such Lender set forth in the Amended Credit Agreement are true and correct as of the Sixth Amendment Effective Date. Each Lender party hereto hereby agrees to comply with the covenants applicable to such Lender set forth in the Amended Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the holders of the Obligations under the Existing Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document, all of which, as amended, supplemented or otherwise modified hereby, are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document in similar or different circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to Section 10.18 of the Amended Credit Agreement, this Amendment may be in the form of an Electronic Record and may be executed using Electronic Signatures (including facsimile and .pdf) and shall be considered an original, and shall have the same legal effect, validity and enforceability as a paper record. This Amendment may be executed in as many counterparts as necessary or convenient, including both paper and electronic counterparts, but all such counterparts are one and the same Amendment. For the avoidance of doubt, and subject to Section 10.18 of the Amended Credit Agreement, the authorization under this <u>Section 4(g)</u> may include use or acceptance by the Administrative Agent or any Lender Party of a manually signed paper Amendment which has been converted into electronic form (such as scanned into .pdf), or an electronically signed Amendment converted into another format, for transmission, delivery and/or retention.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If any provision of this Amendment is held to be illegal, invalid or unenforceable, (i) the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby and (ii) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The terms of Sections 10.14 and 10.15 of the Amended Credit Agreement with respect to submission to jurisdiction, waiver of venue and waiver of jury trial are incorporated herein by reference, *mutatis mutandis*, and the parties hereto agree to such terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In consideration of the agreements of the Administrative Agent, each US Lender, the Canadian Lender, each L/C Issuer, and the Swing Line Lender set forth in this Amendment, each Loan Party hereby releases and forever discharges the Administrative Agent, each US Lender, the Canadian Lender, each L/C Issuer, the Swing Line Lender and the Administrative Agent's, each US Lender's, the Canadian Lender's, each L/C Issuer's, and the Swing Line Lender's respective predecessors, successors, assigns, officers, managers, directors, employees, agents, attorneys, representatives, affiliates and other Related Parties (hereinafter all of the above collectively referred to as the "<u>Lender Group</u>") from any and all claims, counterclaims, demands, damages, debts, suits, liabilities, actions and causes of action of any nature whatsoever, in each case to the extent arising in connection with any of the Loan Documents through the date of this Amendment, whether arising at law or in equity, whether known or unknown, whether liability be direct or indirect, liquidated or unliquidated, whether absolute or contingent, foreseen or unforeseen, and whether or not heretofore asserted, which such Loan Party may have or claim to have against any member of the Lender Group (the "<u>Claims</u>"), it being understood that the Loan Parties do not release, discharge or acquit the Lender Group from the obligations specifically set forth in this Amendment and nothing in this <u>Section 4(k)</u> shall be construed to constitute a release of or otherwise apply to a covenant not to sue in respect of any Claims for breach of any obligation by any member of the Lender Group occurring after the date hereof.

Each Loan Party understands, acknowledges and agrees that the release of the Lender Group provided in <u>Section 4(k)</u> hereof includes a waiver of any and all rights and protections the Loan Party may have under Section 1542 of the Civil Code of California (the text of which is below) and any similar statute or law. Section 1542 of the Civil Code of California provides:

"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY."

By executing this Amendment, each Loan Party intends to (i) waive any and all rights and benefits which they may have under Section 1542 of the Civil Code of California, and any similar statute or law, and (ii) assume the risk of releasing any existing, but as of yet unknown, claims.

[*Signature pages follow*]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

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| | | |
|:---|:---|:---|
| <u>BORROWERS:</u> | RADIUS RECYCLING, INC. (f/k/a SCHNITZER STEEL INDUSTRIES, INC.), | RADIUS RECYCLING, INC. (f/k/a SCHNITZER STEEL INDUSTRIES, INC.), |
|  | an Oregon corporation | an Oregon corporation |
|  | By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
|  | Name: W. Brandon Peele | Name: W. Brandon Peele |
|  | Title: Vice President, Chief Treasury Officer and Business Development | Title: Vice President, Chief Treasury Officer and Business Development |
|  | SCHNITZER STEEL CANADA LTD., | SCHNITZER STEEL CANADA LTD., |
|  | a British Columbia corporation | a British Columbia corporation |
|  | By: | &nbsp;&nbsp;&nbsp; /s/ Stefano Gaggini |
|  | Name: Stefano Gaggini | Name: Stefano Gaggini |
|  | Title: President | Title: President |
| <u>GUARANTORS:</u> | RADIUS RECYCLING, INC. (f/k/a SCHNITZER STEEL INDUSTRIES, INC.), | RADIUS RECYCLING, INC. (f/k/a SCHNITZER STEEL INDUSTRIES, INC.), |
|  | an Oregon corporation | an Oregon corporation |
|  | By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
|  | Name: W. Brandon Peele | Name: W. Brandon Peele |
|  | Title: Vice President, Chief Treasury Officer and Business Development | Title: Vice President, Chief Treasury Officer and Business Development |

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| | |
|:---|:---|
| AUTO PARTS GROUP SOUTHWEST, LLC, | AUTO PARTS GROUP SOUTHWEST, LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| Norprop, Inc., its Sole Member | Norprop, Inc., its Sole Member |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |

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| | |
|:---|:---|
| CASCADE STEEL ROLLING MILLS, INC., | CASCADE STEEL ROLLING MILLS, INC., |
| an Oregon corporation | an Oregon corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| EDMAN CORP., | EDMAN CORP., |
| an Oregon corporation | an Oregon corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |
| GENERAL METALS OF TACOMA, INC., | GENERAL METALS OF TACOMA, INC., |
| a Washington corporation | a Washington corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |
| JOINT VENTURE OPERATIONS, INC., | JOINT VENTURE OPERATIONS, INC., |
| a Delaware corporation | a Delaware corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ Brian Souza |
| Name: Brian Souza | Name: Brian Souza |
| Title: President | Title: President |
| MANUFACTURING MANAGEMENT, INC., | MANUFACTURING MANAGEMENT, INC., |
| an Oregon corporation | an Oregon corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |

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| | |
|:---|:---|
| METALS RECYCLING L.L.C., | METALS RECYCLING L.L.C., |
| a Rhode Island limited liability company | a Rhode Island limited liability company |
| Joint Venture Operations, Inc., its Sole Member | Joint Venture Operations, Inc., its Sole Member |
| By: | &nbsp;&nbsp;&nbsp; /s/ Brian Souza |
| Name: Brian Souza | Name: Brian Souza |
| Title: President | Title: President |

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| | |
|:---|:---|
| NORPROP, INC., | NORPROP, INC., |
| an Oregon corporation | an Oregon corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |

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SIXTH AMENDMENT <br> RADIUS RECYCLING, INC.

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| | |
|:---|:---|
| PICK A PART, INC., | PICK A PART, INC., |
| a Washington corporation | a Washington corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |
| PICK AND PULL AUTO DISMANTLING, INC., | PICK AND PULL AUTO DISMANTLING, INC., |
| a California corporation | a California corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |
| PICK-N-PULL AUTO DISMANTLERS, A CALIFORNIA GENERAL PARTNERSHIP, | PICK-N-PULL AUTO DISMANTLERS, A CALIFORNIA GENERAL PARTNERSHIP, |
| a California general partnership | a California general partnership |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Member of Management Committee and Vice President | Title: Member of Management Committee and Vice President |
| PICK-N-PULL AUTO DISMANTLERS, COLUMBUS, LLC, | PICK-N-PULL AUTO DISMANTLERS, COLUMBUS, LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |
| PICK-N-PULL AUTO DISMANTLERS, KANSAS CITY, LLC, | PICK-N-PULL AUTO DISMANTLERS, KANSAS CITY, LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |

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| | |
|:---|:---|
| PICK-N-PULL AUTO DISMANTLERS, LLC, | PICK-N-PULL AUTO DISMANTLERS, LLC, |
| a California limited liability company | a California limited liability company |
| Pick-N-Pull Auto Dismantlers, a California General Partnership, its Sole Manager | Pick-N-Pull Auto Dismantlers, a California General Partnership, its Sole Manager |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Member of Management Committee and Vice President | Title: Member of Management Committee and Vice President |

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SIXTH AMENDMENT <br> RADIUS RECYCLING, INC.

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| |
|:---|
| PICK-N-PULL AUTO DISMANTLERS, NEVADA, LLC, |
| a Nevada limited liability company |
| Pick-N-Pull Auto Dismantlers, a California General Partnership, its Sole Manager |
| &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele |
| Title: Member of Management Committee and Vice President |
| PICK-N-PULL AUTO DISMANTLERS, ST. LOUIS, LLC, |
| a Delaware limited liability company |
| Norprop, Inc., its Sole Member |
| &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele |
| Title: Vice President and Treasurer |
| PICK-N-PULL AUTO DISMANTLERS, STOCKTON, LLC, |
| a California limited liability company |
| Norprop, Inc., its Sole Member |
| &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele |
| Title: Vice President and Treasurer |
| PICK-N-PULL AUTO DISMANTLERS, VIRGINIA BEACH, LLC, |
| a Delaware limited liability company |
| Norprop, Inc., its Sole Member |
| &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele |
| Title: Vice President and Treasurer |
| PICK-N-PULL NORTHWEST, LLC, |
| an Oregon limited liability company |
| Norprop, Inc., its Member |
| &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele |
| Title: Vice President and Treasurer |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| PROLERIDE TRANSPORT SYSTEMS, INC., | PROLERIDE TRANSPORT SYSTEMS, INC., |
| a Delaware corporation | a Delaware corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |

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| | |
|:---|:---|
| PROLERIZED NEW ENGLAND COMPANY LLC, | PROLERIZED NEW ENGLAND COMPANY LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| Proleride Transport Systems, Inc., its Managing Member | Proleride Transport Systems, Inc., its Managing Member |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |

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| | |
|:---|:---|
| ROW52, LLC, | ROW52, LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |
| SCHNITZER FRESNO, INC., | SCHNITZER FRESNO, INC., |
| an Oregon corporation | an Oregon corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |

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| | |
|:---|:---|
| SCHNITZER SOUTHEAST, LLC, | SCHNITZER SOUTHEAST, LLC, |
| a Georgia limited liability company | a Georgia limited liability company |
| Radius Recycling, Inc., its Manager | Radius Recycling, Inc., its Manager |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President, Chief Treasury Officer and Business Development | Title: Vice President, Chief Treasury Officer and Business Development |

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| | |
|:---|:---|
| SCHNITZER STEEL HAWAII CORP., | SCHNITZER STEEL HAWAII CORP., |
| a Delaware corporation | a Delaware corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President and Treasurer | Title: Vice President and Treasurer |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| SSI BIG SKY LLC, | SSI BIG SKY LLC, |
| an Oregon limited liability company | an Oregon limited liability company |
| Radius Recycling, Inc., its Sole Member | Radius Recycling, Inc., its Sole Member |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President, Chief Treasury Officer and Business Development | Title: Vice President, Chief Treasury Officer and Business Development |

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| | |
|:---|:---|
| SSI BURBANK LLC, | SSI BURBANK LLC, |
| a Washington limited liability company | a Washington limited liability company |
| Radius Recycling, Inc., its Sole Member | Radius Recycling, Inc., its Sole Member |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President, Chief Treasury Officer and Business Development | Title: Vice President, Chief Treasury Officer and Business Development |

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| | |
|:---|:---|
| SSI NEVADA LLC, | SSI NEVADA LLC, |
| a Nevada limited liability company | a Nevada limited liability company |
| Radius Recycling, Inc., its Sole Member | Radius Recycling, Inc., its Sole Member |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President, Chief Treasury Officer and Business Development | Title: Vice President, Chief Treasury Officer and Business Development |

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| | |
|:---|:---|
| U-PULL-IT, INC., | U-PULL-IT, INC., |
| a California corporation | a California corporation |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |
| SCHNITZER STEEL CANADIAN HOLDINGS, INC. | SCHNITZER STEEL CANADIAN HOLDINGS, INC. |
| By: | &nbsp;&nbsp;&nbsp; /s/ Stefano Gaggini |
| Name: Stefano Gaggini | Name: Stefano Gaggini |
| Title: President | Title: President |
| SSI SERVICES, LLC (f/k/a SCHN HOLDINGS, LLC), | SSI SERVICES, LLC (f/k/a SCHN HOLDINGS, LLC), |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| SCHNITZER COLUMBUS RECYCLING, LLC, | SCHNITZER COLUMBUS RECYCLING, LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |
| SCHNITZER SOUTHEAST HOLDINGS, LLC, | SCHNITZER SOUTHEAST HOLDINGS, LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | &nbsp;&nbsp;&nbsp; /s/ W. Brandon Peele |
| Name: W. Brandon Peele | Name: W. Brandon Peele |
| Title: Vice President | Title: Vice President |
| PICK-N-PULL AUTO DISMANTLERS, CHICAGO, LLC, | PICK-N-PULL AUTO DISMANTLERS, CHICAGO, LLC, |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | &nbsp;&nbsp;&nbsp; /s/ Stefano Gaggini |
| Name: Stefano Gaggini | Name: Stefano Gaggini |
| Title: Member of the Management Committee | Title: Member of the Management Committee |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | | |
|:---|:---|:---|
| <u>ADMINISTRATIVE AGENT</u>: | BANK OF AMERICA, N.A., | BANK OF AMERICA, N.A., |
|  | as Administrative Agent | as Administrative Agent |
|  | By: | &nbsp;&nbsp;&nbsp; /s/ Carolen Alfonso |

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Name: Carolen Alfonso <br> Title: Assistant Vice President

RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | | |
|:---|:---|:---|
| <u>US LENDERS:</u> | BANK OF AMERICA, N.A., | BANK OF AMERICA, N.A., |
|  | as a US A-1 Lender, a US A-2 Lender, the Swing Line Lender, and an L/C Issuer | as a US A-1 Lender, a US A-2 Lender, the Swing Line Lender, and an L/C Issuer |
|  | By: | &nbsp;&nbsp;&nbsp; /s/ Jeff Olivas |

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Name: Jeff Olivas <br> Title: Senior Vice President

RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| JPMORGAN CHASE BANK, N.A., | JPMORGAN CHASE BANK, N.A., |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Blakely Engel |
| Name: Blakely Engel | Name: Blakely Engel |
| Title: Executive Director | Title: Executive Director |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| KEYBANK NATIONAL ASSOCIATION, | KEYBANK NATIONAL ASSOCIATION, |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Adam Cebula, Jr. |
| Name: Adam Cebula, Jr. | Name: Adam Cebula, Jr. |
| Title: Vice President | Title: Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| PNC BANK, NATIONAL ASSOCIATION, | PNC BANK, NATIONAL ASSOCIATION, |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Joseph McElhinny |
| Name: Joseph McElhinny | Name: Joseph McElhinny |
| Title: Senior Vice President | Title: Senior Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| UMPQUA BANK, | UMPQUA BANK, |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Stephen Sloan |
| Name: Stephen Sloan | Name: Stephen Sloan |
| Title: Senior Vice President | Title: Senior Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| WELLS FARGO BANK, NATIONAL ASSOCIATION, | WELLS FARGO BANK, NATIONAL ASSOCIATION, |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Chris Harbutt |
| Name: Chris Harbutt | Name: Chris Harbutt |
| Title: Executive Director | Title: Executive Director |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| U.S. BANK NATIONAL ASSOCIATION, | U.S. BANK NATIONAL ASSOCIATION, |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Curt M Steiner |
| Name: Curt M Steiner | Name: Curt M Steiner |
| Title: Senior Vice President | Title: Senior Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| U.S. BANK NATIONAL ASSOCIATION, | U.S. BANK NATIONAL ASSOCIATION, |
| successor to MUFG UNION BANK, N.A., | successor to MUFG UNION BANK, N.A., |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Curt M Steiner |
| Name: Curt M Steiner | Name: Curt M Steiner |
| Title: Senior Vice President | Title: Senior Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| BANK OF MONTREAL, CHICAGO BRANCH, | BANK OF MONTREAL, CHICAGO BRANCH, |
| as a US A-1 Lender | as a US A-1 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Charles Reggie Rice |
| Name: Charles Reggie Rice | Name: Charles Reggie Rice |
| Title: Vice President | Title: Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| BANNER BANK, | BANNER BANK, |
| as a US A-1 Lender | as a US A-1 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Brandon Seals |
| Name: Brandon Seals | Name: Brandon Seals |
| Title: VP, Syndication Portfolio Manager | Title: VP, Syndication Portfolio Manager |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| THE HUNTINGTON NATIONAL BANK, | THE HUNTINGTON NATIONAL BANK, |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Austin Halm |
| Name: Austin Halm | Name: Austin Halm |
| Title: Vice President | Title: Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| TD BANK, N.A., | TD BANK, N.A., |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Richard A. Zimmerman |
| Name: Richard A. Zimmerman | Name: Richard A. Zimmerman |
| Title: Managing Director | Title: Managing Director |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| WASHINGTON FEDERAL, | WASHINGTON FEDERAL, |
| as a US A-1 Lender and a US A-2 Lender | as a US A-1 Lender and a US A-2 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Kent Ikeda |
| Name: Kent Ikeda | Name: Kent Ikeda |
| Title: Sr. Vice President | Title: Sr. Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | |
|:---|:---|
| FIRST HAWAIIAN BANK, | FIRST HAWAIIAN BANK, |
| as a US A-1 Lender | as a US A-1 Lender |
| By: | &nbsp;&nbsp;&nbsp; /s/ Devon Chow |
| Name: Devon Chow | Name: Devon Chow |
| Title: Vice President | Title: Vice President |

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RADIUS RECYCLING, INC. SIXTH AMENDMENT

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| | | |
|:---|:---|:---|
| <u>CANADIAN LENDER:</u> | BANK OF MONTREAL | BANK OF MONTREAL |
|  | as the Canadian Lender | as the Canadian Lender |
|  | By: | &nbsp;&nbsp;&nbsp; /s/ Eric Lo |

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Name: Eric Lo <br> Title: Managing Director <br>

RADIUS RECYCLING, INC. SIXTH AMENDMENT

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<u>Schedule 2.01</u>

Commitments and Applicable Percentages

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