WS · Worthington Steel, Inc.

Worthington Steel (NYSE: WS) today announced that it has decided to reduce the mandatory threshold of the voluntary takeover offer for Kloeckner & Co SE (“Kloeckner”) to 57.5% and published the related amendment of the offer (the “Offer Amendment”). Worthington Steel will not increase the offer price or make any further changes to the offer. As a result of reducing the minimum acceptance threshold, the acceptance period originally expiring on March 12, 2026, will now expire on March 26, 2026. As of March 9, 2026, Worthington Steel has secured approximately 56.9% of Kloeckner's issued share capital. The consummation of the voluntary takeover offer remains subject to the fulfilment of the minimum acceptance threshold at the end of the acceptance period. Worthington Steel GmbH, the subsidiary established for the acquisition of Kloeckner, announced the intention to launch an all-cash offer at €11.00 in cash for all outstanding shares of Kloeckner on January 15, 2026. This represents a

Worthington Steel, Inc. (NYSE: WS) announced today that it will report the results for its fiscal third quarter after the market closes on Wednesday, March 25, 2026. The Company will host a conference call to discuss its fiscal third quarter results at 8:30 a.m. ET on Thursday, March 26, 2026. The conference call can be accessed by registering online at the link below. A live webcast will be available in the Investor Relations section of the Company’s website at www.WorthingtonSteel.com and will be archived for one year. Live Conference Call Schedule Date: Thursday, March 26, 2026 Start Time: 8:30 a.m. ET Registration Link: https://events.q4inc.com/attendee/556002709 About Worthington Steel Worthington Steel (NYSE:WS) is a metals processor that partners with customers to deliver highly technical and customized solutions. Worthington Steel’s expertise in carbon flat-roll steel processing, electrical steel laminations and tailor welded solutions is driving steel toward a more

Highlights: Following approval by BaFin, Worthington Steel GmbH has published the offer document for its voluntary public tender offer for Kloeckner & Co SE The acceptance period, during which Kloeckner & Co shareholders can tender their shares for an all-cash consideration of €11.00 per share, commences today and ends on March 12, 2026 The offer provides Kloeckner & Co shareholders with an attractive opportunity to realize the value of Kloeckner at a significant premium of 98% to the undisturbed three-month volume-weighted average share price on December 5, 2025, subject to the terms and conditions set out in the offer document Kloeckner & Co’s Management Board and Supervisory Board have stated that they welcome the offer and, subject to their review of the Offer Document, intend to recommend acceptance by Kloeckner's shareholders SWOCTEM GmbH, Kloeckner & Co’s largest shareholder, has irrevocably committed to tender its shares into the offer, providing strong

Strengthens Worthington Steel's leadership position in the North American metal processing sector Highlights: Creates the second largest steel service center company in North America with over $9.5 billion of combined revenue Highly complementary combination that strengthens Worthington Steel's strategic offerings in key product categories and regions Further diversifies Worthington Steel’s products, end markets and geographic footprint across North America and Europe Anticipated to generate an estimated $150 million of highly actionable, identified annual run-rate synergies Expected to be substantially accretive to Worthington Steel’s EPS within the first full year of operation Provides a platform with multiple avenues for accelerated further growth All-cash acquisition to be implemented via a Voluntary Tender Offer in Germany Transaction supported by SWOCTEM GmbH, Kloeckner’s major shareholder Worthington Steel (NYSE: WS), today announced that it has entered into a Business