Slide 1: Investor Presentation Second Quarter 2026
Investor Presentation Second Quarter 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
Slide 3: Reliance is a leading global diversified metal solutions provider
Reliance is a leading global diversified metal solutions provider Strong Safety Performance in 85+ 2025 Years of Founded in operational 1939 experience 125K ~310 100K+ + Locations Metal Products Customers |3|
Slide 4: A Family of Companies
A Family of Companies An mii rca AllMetals (BEST) _Manutocturing @ CHAPEL STEEL AFFILIATED METALS: “All etal Services @l GUY TONMETALS @BRALCO — PRS 2c, Pstiegheny see = m Chatham Stee! Alii Metals. Inc., smencan nerais STEEL WY Sire er rene a bpances ZX DELTA STEEL en-<-1c-metals li CONTINENTAL org
Slide 5: Unique & Sustainable Business Model
Unique & Sustainable Business Model Reliance’s strong and consistent cash flows are supported by its deep and wide economic moat, driven by profitable operations and effective working capital management. Industry Leader: Largest metals Diverse: Mitigates volatility with service center company in Nor
Slide 6: 31+ Year Trading History
31+ Year Trading History Reliance’s unique and sustainable business model has resulted in compounded annual stockholder returns that have outpaced the S&P 500 since the 1994 IPO. $450.00 CAGR $373.60 $400.00 As of 6-30-26 RS S&P 500 $350.00 3 Years 12.9% 20.6% $300.00 5 Years 21.8% 13.4% $250.00 10
Slide 7: Resilience Through Economic Cycles: Consistent Profitability
Resilience Through Economic Cycles: Consistent Profitability We’ve remained profitable every year, even during recessionary periods and a global pandemic(1), and achieved EPS of $13.98 in 2025. Diluted Earnings per Share $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $0.00 (1) RECESSIONARY PERIODS
Slide 8: Consistent, Strong and Countercyclical Cash Flow Generation Through Economic Cycles
Consistent, Strong and Countercyclical Cash Flow Generation Through Economic Cycles Consistent, strong cash flows help fuel our growth and longstanding history of stockholder returns throughout all cycles(1). In 2025, we reported cash flow from operations of $831 million. Countercyclical cash flow g
Slide 9: Smart, Profitable Growth Strategy
Smart, Profitable Growth Strategy Reliance has been increasing market share in a stable demand market while maintaining industry leading gross profit. RS Annual Tons Sold vs. MSCI Industry Shipments (Thousands) RS MSCI Other Member Tons 7,000 44,000 MSCI Other Member Tons Initiated focus on 42,000 s
Slide 10: Q2 2026 Highlights
Q2 2026 Highlights Record shipments, sustained pricing strength and market share gains fueled another strong quarter Key Highlights Net Sales ($ billions) Gross Profit Margin(1) $4.63 • Second highest quarterly revenue in $4.03 30.6% 30.5% 30.1% Company history, with net sales of $4.63B, $3.66 29.7%
Slide 11: Q2 2026 EPS Performance Drivers
Q2 2026 EPS Performance Drivers Key Highlights Non-GAAP EPS Q2’25 → Q2’26 Bridge FIFO Profitability (ex-border wall) +$2.72 • Higher volumes and disciplined execution, capitalizing on elevated pricing (ASP +14.5% YoY) and constrained supply $0.41 $2.72 • FIFO gross margin expanded to ~30.9% ex-borde
Slide 12: Consistently Outperform Peers
Consistently Outperform Peers Our profitability margins consistently track more closely to industrial distribution companies given business model similarities including diversification, small order sizes, growth in value- added processing and focus on providing value and service to our customers. 35
Slide 13: Ability to Sustain Gross Profit Margins Over Time
Ability to Sustain Gross Profit Margins Over Time 25%-27% 28%-30% 29%-31% Historical Prior Estimated Estimated Range(1) Sustainable Sustainable Range(2) Range(2) Gross profit margin profile aligned with industrial distribution peers and far surpasses service center peers due to various factors: • Pe
Slide 14: Our Differentiated Approach
Our Differentiated Approach DECENTRALIZED AS-NEEDED STRONG MINIMAL ORGANIC DIVERSIFICATION OPERATING INVENTORY PRICING CONTRACTUAL GROWTH MODEL MANAGEMENT DISCIPLINE SALES & INNOVATION of products, end puts decision and focus on by managers in helps effectively through industry- markets and making a
Slide 15: Diversified Full Year 2025 Sales
Diversified Full Year 2025 Sales BY END MARKET(1) BY REGION(2) BY COMMODITY(2) BY PRODUCT(2) Carbon steel plate 12% INCLUDES: Carbon steel structurals 12% Consumer products Carbon steel tubing 9% Midwest - 31% Energy (oil & natural gas) General Hot-rolled steel S&C 8% Heavy industry Manufacturing -
Slide 16: Best-in-Class Service
Best-in-Class Service Our decentralized operating model enables quick turnaround, high quality services that save our customers significant time, labor, and expense. 125,000+ Customers >90%+ ~$3,120 Repeat Average Served Customer Base Order Size ~40% Orders Delivered ~49% Orders Include in 24 Hours
Slide 17: Balanced Capital Allocation Philosophy
Balanced Capital Allocation Philosophy Reliance Capital Organic: • Open facilities in new markets and expand existing facilities Allocation • Expand capabilities through addition or upgrading of value-added processing Breakdown(1) equipment (2021 – Q2 2026) ($M) Growth Acquisitions: • Continue to be
Slide 18: Industry-Leading Investments
Industry-Leading Investments Our investments in innovation drive growth and continuous improvements to our business, far outpacing our peers. $1.96B ~50% $831M 76 CapEx Annual CapEx Invested in Acquisitions investments budget dedicated acquisitions since since 1994 IPO(2) since 2021(1) to growth 202
Slide 19: Longstanding Commitment to Stockholder Returns
Longstanding Commitment to Stockholder Returns Cash dividends and share repurchases are core to our capital allocation philosophy. 67 33 22,400% $3.36B Consecutive Dividend Increase in Common stock years of quarterly increases since quarterly repurchased dividend 1994 IPO(1) dividend since since 202
Slide 20: Highly Effective, Opportunistic Repurchases
Highly Effective, Opportunistic Repurchases In the last 10 years, Reliance has generated a 12.5% return1 on shares repurchased and reduced overall shares outstanding by ~34%.2 $1,200 7.0 6.0 $1,000 5.0 $800 4.0 $600 3.0 $400 2.0 $200 1.0 $- 0.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Annua
Slide 21: Strong Balance Sheet Provides Financial Flexibility
Strong Balance Sheet Provides Financial Flexibility • Industry-leading profitability and effective working capital management contribute to consistent, strong free ($ in millions) December 31, 2025 June 30, 2026 cash flow generation Cash & Cash Equivalents $216.6 $235.4 • $1.5 billion five-year revo
Slide 22: Investment Highlights
Investment Highlights ✓ RESILIENT, DIVERSIFIED MODEL: Broad diversification across products, customers, end markets, and geographies, supported by a decentralized network of more than 300 locations, reduces volatility and helps sustain profitability through economic cycles. ✓ PURCHASING POWER: Strat
Slide 23: Non-GAAP Information
Non-GAAP Information In addition to GAAP data, Reliance (RS) may also disclose in this presentation certain non- GAAP and non-GAAP-FIFO financial information (including, without limitation, results of operations, EBITDA and margin, gross profit and margin, free cash flow, net income, diluted earning
Slide 24: Appendix
Appendix | 24 | Reliance
Slide 25: LIFO Inventory Valuation Method
LIFO Inventory Valuation Method • LIFO adjustments reflect cost of sales at current replacement costs • Periods of rising metal prices: removes inventory gains from results (recognize LIFO expense, a decrease to pretax income) • Periods of declining metal prices: removes inventory losses from result
Slide 26: Reliance's Scale
Reliance’s Scale \26| (°Reliance
Slide 27: Industry-Leading Market Position
Industry-Leading Market Position We believe our relatively low level of market share leaves significant opportunity for further strategic growth within the industry. U.S. METALS SERVICE CENTER INSTITUTE SHIPMENTS (2025(1) share based on tons) • Reliance’s U.S. tons sold ~18% represented approximatel
Slide 28: Significant Scale in a Highly Fragmented Market
Significant Scale in a Highly Fragmented Market Net Sales ($M) EBITDA ($M) $3,000 $18,000 $2,700 $16,000 RS $2,400 RS $14,000 $2,100 $12,000 $1,800 $10,000 RS $1,500 RS $8,000 KCO KCO $1,200 $6,000 RYI RYI $900 $4,000 RUS WS WS RUS $600 $2,000 RUS WS KCO RUS WS $300 RYI KCO RYI $0 $0 2024 2025 2024
Slide 29: The Role of a Service Center
The Role of a Service Center Service centers provide value-added services that lower costs, increase efficiencies and improve quality. • Service centers are not producers of metal • Purchase products from metals producers (mills) and provide value-added services to process metals to customer specifi
Slide 30: Where We Play
Where We Play • Strategically located near metals producers (mills) and customers • Ensures as-needed logistics and reduced carbon footprint • ~310 locations in 41 states and 10 countries outside of the U.S. • Most customers located within a 200-mile radius of our service centers Reliance’s • Propri
Slide 31: Acquisitions
Acquisitions i31| (Reliance
Slide 32: Acquisition Criteria: Quality Over Quantity
Acquisition Criteria: Quality Over Quantity • Broadened view on the universe of prospective growth opportunities • No set targets on the number of acquisitions per year • Focus on value Priorities Include: Disciplined Valuation Methodology ✓ Immediately accretive to earnings with positive cash flow
Slide 33: ESG
| 33 | Reliance
Slide 34: Corporate Responsibility & Sustainability
Corporate Responsibility & Sustainability 29 Year Trading History Based on our materiality assessment, the most significant ESG issues for Reliance include: employee health and safety; emissions from company-operated trucks; and overall energy usage. Employee Health & Safety Sustainability Ratings/D
Slide 35: Corporate Responsibility & Sustainability (Continued)
Corporate Responsibility & Sustainability 29 Year Trading History (Continued) Our metals distribution and processing operations by nature do not have a significant impact on the environment. We are not a metals producer or mill – we operate metal service centers. Circularity and low emissions are co
Slide 36: Thank you
Thank you \36| f° Reliance