Russel Metals Inc. · TSX:RUS
Russel Metals — Merger or Acquisition (September 2025)
8 slides from Russel Metals's merger presentation, Sep 29, 2025
Slide 1: Acquisition of Assets from Kloeckner Metals Corporation
ACQUISITION OF ASSETS FROM KLOECKNER METALS CORPORATION SEPTEMBER 29, 2025
Slide 2: Forward-Looking Information
FORWARD-LOOKING INFORMATION Certain information contained in this presentation constitute forward-looking statements or information within the meaning of applicable securities laws relating to, among other things, the anticipated benefits of the transaction, the timing to close the transaction and t
Slide 3: Non-GAAP Measures
NON-GAAP MEASURES This presentation includes certain financial measures that do not comply with International Financial Reporting Standards (IFRS or GAAP) or have standardized meanings, and thus, may not be comparable to similar measures presented by other issuers, for example Adjusted EBIT and Adju
Slide 4: Acquisition Summary
ACQUISITION SUMMARY • The Kloeckner Assets to be Acquired: • Seven locations in the US (2 in Florida; 2 in Texas; 1 in Georgia; 1 in North Carolina; and 1 in Iowa) • Assets include the net working capital, buildings, real estate and equipment for those locations – all properties will be owned by Rus
Slide 5: Expansion of US Footprint
EXPANSION OF US FOOTPRINT • Our geographic coverage will be enhanced across key industrial hubs in the US. • The combined footprint should create opportunities to reinvest in the Kloeckner branches and improve operating performance. Mid-West Region Dubuque, IA Northeast Region South Region Southeast
Slide 6: Capital Structure Summary
CAPITAL STRUCTURE SUMMARY • Russel has significant financial capacity to complete the contemplated acquisition as well as pursue other capital deployment opportunities. 6/30/25 6/30/25 Actual Pro Forma Kloeckner (C$ mm) Asset Acquisition (1) (C$ mm) (Cash) $(194) $(32) Bank Lines - Maturity 2029 --
Slide 7: Samuel Acquisition: Invested Capital Update
SAMUEL ACQUISITION: INVESTED CAPITAL UPDATE • At the time of the Samuel acquisition announcement, the purchase price approximated the book value. Since that time, we reduced the invested capital by ~$100 mm(1) and substantially reduced the implied purchase price multiple. Invested Capital – C$ Milli
Slide 8: Historical Acquisition Summary
HISTORICAL ACQUISITION SUMMARY • The announced Kloeckner asset transaction is a continuation of Russel’s opportunistic approach to acquisitions. Acquisition History (C$ mm) $268 $167 $162 $157 $139 $113 $106 $70 $36 $39 $37 $22 $27 $28 $27 $26 $17 $17 $10 $8 (1) Based on invested capital at Sept. 30
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