Slide 1: Ryerson Quarterly Release Presentation Q3 2025
Ryerson Quarterly Release Presentation Q3 2025 Exhibit 99.2
Slide 2: Important Information About Ryerson Holding Corporation
Important Information About Ryerson Holding Corporation These materials do not constitute an offer or solicitation to purchase or sell securities of Ryerson Holding Corporation (“Ryerson” or “the Company”) or its subsidiaries and no investment decision should be made based upon the information provi
Slide 3: Q3 market & performance; Q3 2025 Performance Highlights
Commodity prices since Dec. 2020 Sources: Bloomberg, prices through October 27, 2025; US ISM Purchasing Managers Index from Trading Economics Q3 market & performance Futures Q3 2025 Performance Highlights $1.16B in revenue, in-line with guidance, with average selling prices up 2.6% and tons shipped
Slide 4: Q4 2025 Guidance
1Net loss attributable to Ryerson Holding Corporation; 2Diluted EPS of $(0.25) represents the midpoint of our $(0.28) –$(0.22) guidance range. See Ryerson’s 8-K filed on October 28, 2025 Net sales Net Loss1 Adj. EBITDA, excl. LIFO $1.07 - 1.11B $(9) – (7M) $33 - 37M Third quarter guidance assumes: S
Slide 5: Capital Management: Liquidity & Net Debt
A reconciliation of Net Debt as well as other non-GAAP financial measures to comparable GAAP measures is included in the Appendix. See Ryerson’s 8-K filed on October 28, 2025. Net Leverage of 3.7x in Q3 ’25 remains above but moves closer to target range of 0.5x to 2.0x Global liquidity remained stro
Slide 6: Q3 2025 key financial metrics
Q3 2025 key financial metrics 1 Net income (loss) attributable to Ryerson Holding Corporation; A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix. See Ryerson’s 8-K filed on October 28, 2025. Net Sales Gross Margin Net Loss1 Diluted Loss per Sh
Slide 7: Intelligent Network
Diversified (metals mix, ~40k customers, ~75k products) Availability, speed, ease, consistency Hundreds of “virtual” locations 24/7 e-commerce Digitalized customer experience Building the value chain of the future Intelligent Network
Slide 8: Ryerson Family of Companies
RYERSON FAMILY OF COMPANIES PRODUCTION. coxa WV pe
Slide 9: eli) OMI
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Slide 10: Quarterly financial highlights
Quarterly financial highlights *Net Income (Loss) attributable to Ryerson Holding Corporation; A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in this Appendix Average Selling Price Per Ton Tons Sold (000’s) Net Income (Loss) & Adj. EBITDA excl. LIFO
Slide 11: Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO
Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO 11
Slide 12: Non-GAAP Reconciliation: Adjusted Net Income (loss)
Non-GAAP Reconciliation: Adjusted Net Income (loss) 12
Slide 13: Non-GAAP Reconciliation: leverage ratio and Free cash flow
Non-GAAP Reconciliation: leverage ratio and Free cash flow 13
Slide 14: Non-GAAP Reconciliation Ryerson
NON-GAAP RECONCILIATION RYERSON ($M) 2014 2016 2017 2018 2019 2021 2022 2024 Tons Sold (00's) 2,024 1,897 1,903 2,000 2,268 2,381 2,009 2,095 2,029 1,943 1,937 Net Sales 3622.2 31672 28597 33647 44084 45016 34666 5,675.3 63236 5,108.7 4,598.7 Average Selling Price $7,790 $1,670 $1,503 $1,682 «$1,944
Slide 15: Ryerson.com 3.0 - NextGen ECommerce
Ryerson.com 3.0 - NextGen ECommerce Investing in digitalization to improve the customer experience 15
Slide 16: Investing in the Business
University Park – New CS&W HQ 900,000 sq ft facility Significant automation and technological enhancements Investing IN the Business West Shelbyville expansion State-of-the-art cut-to-length line (CTL) and automated storage and retrieval system for sheet products Centralia Pacific NW 214,000 sq ft f
Slide 17: Next Phase
Next Phase Target sequence PHASE 1 PHASE 2 PHASE 3 Invest in modernization and automation/ cure legacy investment deficit Integrate North American service center network through common digital and ERP platforms Optimize network to increase operating leverage and improve the customer experience De-le
Slide 18: Year progress
10 Year progress Net PP&E Book Value of Equity Pension Liability Net Debt2 Improved Operating Model Balance Sheet Transformation Improved Capital Allocation 1For EBITDA, Adjusted EBITDA and Adj EBITDA excluding LIFO please see Ryerson’s 8-K filed on February 20, 2025; 10-year view represents 2015 -