Ryerson Holding Corporation · NYSE:RYZ
Ryerson — Wells Fargo Industrials and Materials Conference 2026
18 slides from Ryerson's conference presentation, June 2026
Slide 1: Wells Fargo Industrials and Materials Conference June 2026
Wells Fargo Industrials and Materials Conference June 2026
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: Ryerson – RYZ
RYERSON – RYZ Headquarters Chicago, IL • A leading distributor, processor and industrial metal solutions provider Operating Locations ~160 with an emergent intelligent and digitally enabled network across North America driven to create the industry's best customer experience Combined Market Share1 7
Slide 4: Stronger Together
STRONGER TOGETHER Increased density enables improved speed to market and a wider array of solutions Higher asset utilization opportunities with ability to cross-sell value add capabilities Ability to optimize footprint, supply chain, and distribution network Perfectly positioned to benefit from dome
Slide 5: Compelling Synergy Opportunity
COMPELLING SYNERGY OPPORTUNITY OVERVIEW ~$120M 33% 100% >$190M Expected Annual Run Rate Expected implementation Expected implementation Pro Forma Free Cash Flow2 Synergies1 by end of Year 1 by end of Year 2 4 Key Pillars Underpinning Synergy Realization Procurement Efficiency Gains Commercial Enhanc
Slide 6: Merger Synergy Progress
MERGER SYNERGY PROGRESS • $40M in expected annualized Estimated annual run-rate savings from Q1 actions synergies, $1 million of which was realized in Q1 with $4-6 million $40M $25M $20M $35M $120M expected in Q2 and more anticipated in the second half of 2026 • Minimal non-recurring one-time costs
Slide 7: Primed to Capture Attractive Returns
PRIMED TO CAPTURE ATTRACTIVE RETURNS SIGNIFICANT CAPITAL INVESTED SELECT HIGHLIGHTS ($M) RYI Capex ZEUS Capex1 RYZ Capex $480M+ 20%+ Targeted Project ROI on Total 2022-2025 investment1 $143 growth capex investments2 $21 $129 $125 • University Park – New CS&W HQ $20 $29 • Shelbyville expansion • New
Slide 8: Moving Up the Value Chain Together
MOVING UP THE VALUE CHAIN TOGETHER End Products - Stainless steel bollards - Mfg. assembly for data center racking and cooling systems - Industrial hoppers - Service station canopies Value-Add / - HVAC systems Value Engineer - Multi-step processing - Highly engineered cuts and modifications - Build-
Slide 9: Commodity & Macro Environment
COMMODITY & MACRO ENVIRONMENT Commodity Prices Trending Up Demand and order activity has been strong CRU HRC LME Aluminum LME Nickel in early 2026 relative to recent periods, 3.5 illustrated by the ISM Purchasing Manager’s 3.0 Futures Index, while industrial metal commodity 2.5 price bellwethers mov
Slide 10: Price to Book Below Peers
PRICE TO BOOK BELOW PEERS Peer Average1 Ryerson Book Value of Equity & Market Capitalization, $M Price/Book ZEUS3 RYI RYZ RYZ Mkt Cap 1.87 0.91 as of 3/312 Implied RYZ share price at ~$46/share 1,282 peer P/B average: 516 555 574 1,167 579 As of 3/31, Ryerson traded at a discount to book value of eq
Slide 11: Capital Allocation Plan
CAPITAL ALLOCATION PLAN Dividends M&A Quarterly dividend/share Highly selective while focusing of $0.1875 for Q2 ’26, on Olympic integration annual yield of 3.3%1 Capex Buybacks Budgeted $75M for Repurchased $1.6M in FY 2026 Q1; RYZ Board approved authorization for $100M of purchases through April 3
Slide 12: Ryerson Olympic Steel
RYERSON Z7 OLYMPIC STEEL
Slide 13: Appendix
Appendix
Slide 14: Q1 2026 Same-Store Financials
Q1 2026 SAME-STORE FINANCIALS Ryerson Same- Ryerson Holding Olympic Steel Store Corporation Period from Three months ended March 31, 2026 (Dollars in Millions, tons in thousands) 2/13/26 - 3/31/26 Tons Shipped 133 523 656 Net Sales $ 272.7 $ 1,293.8 $ 1,566.5 Gross margin, excluding LIFO expense 20.
Slide 15: Margin and Expense Trends
MARGIN AND EXPENSE TRENDS $455 $440 $444 $439 $420 $422 $428 $436 $406 $422 $413 $415 $379 $371 $404 $403 $392 $395 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Gross Margin, excl. LIFO/Ton Adjusted Expenses*/Ton • Gross margin per ton expanded in the first quarter of 2026
Slide 16: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Note: EBITDA represents net (loss) income before interest and other expense on debt, provision (benefit) for income taxes, depreciation and amortization. Adjusted EBITDA gives further effect to, among other things, reorganization expenses, gain on settlements, gain on benefit
Slide 17: EBITDA & Leverage Ratio Reconciliations
EBITDA & LEVERAGE RATIO RECONCILIATIONS ($M) 2023 2024 2025 Q1 2026 Tons Sold (000's) 1,943 1,937 1,947 656 Net Sales 5,108.7 4,598.7 4,571.3 1,566.5 Average Selling Price $2,629 $2,374 $2,348 $2,388 Gross Profit 1,021.6 834.2 782.2 288.8 Gross Profit per Ton 526 431 402 440 Gross Margin 20.0% 18.1%
Slide 18: Expense Reconciliation
EXPENSE RECONCILIATION Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Operating expenses $216.8 $200.7 $196.7 $188.5 $202.1 $203.6 $200.5 $206.8 $265.6 Restructuring and other charges - 1.7 1.1 0.3 - - - - - Impairment charges on fixed assets - - - - - 1.8 0.1 1.5 0.4 Gain o
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