Worthington Steel Announces Start of Acceptance Period for Public Delisting Tender Offer for Kloeckner & Co SE (Form 8-K)

Worthington Steel Announces Start of Acceptance Period for Public Delisting Tender Offer for Kloeckner & Co SE

COLUMBUS, OHIO (July 15, 2026) - Worthington Steel, Inc. (NYSE: WS) today announced the opening of the acceptance period for the Public Delisting Tender Offer ("Delisting Offer") for all outstanding shares of Kloeckner & Co SE ("Kloeckner") not already held by Worthington Steel, following approval of the offer document for the Delisting Offer (the "Delisting Offer Document") by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - "Bafin") and publication in accordance with the German Securities Acquisition and Takeover Act (WpÜG).

Starting today, Kloeckner shareholders can accept the Delisting Offer by tendering their shares for a cash consideration of EUR 11.00 per Kloeckner share. The acceptance period runs from July 15, 2026 to August 12, 2026, 24:00 hrs (Frankfurt am Main local time) / 18 hrs (New York local time).

Worthington Steel currently holds approximately 62% of Kloeckner's outstanding shares following the completion of its Voluntary Public Takeover Offer on June 3, 2026. The Delisting Offer provides remaining Kloeckner shareholders with an additional opportunity to tender their shares for cash consideration.

The Delisting Offer is not subject to any closing conditions and does not include a minimum acceptance threshold. It is made exclusively pursuant to the terms set out in the Delisting Offer Document approved by Bafin.

Following the effectiveness of the delisting, Kloeckner shares will no longer be admitted to trading on a regulated market in Germany or on a comparable market abroad, which may result in significantly reduced liquidity and limited price discovery for Kloeckner shares.

The Delisting Offer Document and other information relating to the Delisting Offer are available as of today on the following website: www.strong-for-good.com.

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 sustainable future.

As one of the most trusted metals processors in North America, Worthington Steel and its approximately 6,000 employees harness the power of steel to advance our customers' visions through value-added processing capabilities including galvanizing, pickling, configured blanking,

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Worthington Steel

July 15, 2026

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specialty cold reduction, lightweighting and electrical lamination. Headquartered in Columbus, Ohio, Worthington Steel operates 37 facilities in seven states and 10 countries. Following a people-first Philosophy, commitment to sustainability and proven business system, Worthington Steel's purpose is to generate positive returns by providing trusted and innovative solutions for customers, creating opportunities for employees and strengthening its communities.

About Kloeckner & Co

Kloeckner & Co is now one of the largest producer-independent metals processors and one of the leading steel service center companies. With its distribution and service network of around 110 warehouse and processing locations, primarily in North America and the "DACH" region (Germany, Austria and Switzerland), Kloeckner & Co supplies more than 60,000 customers. Currently, the Group has more than 6,000 employees. Kloeckner & Co had sales of some €6.4 billion in fiscal year 2025. By consistently implementing its corporate strategy, Kloeckner & Co strives to become one of the leading service center and metal processing companies in North America and Europe. The focus is on continued targeted expansion of the service center and higher value-added business, diversification of the product and service portfolio as well as integration of additional CO2-reduced solutions under the Nexigen® umbrella brand. The shares of Kloeckner & Co SE are admitted to trading on the regulated market segment (Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with further post-admission obligations (Prime Standard). Kloeckner & Co shares are listed in the SDAX® index of Deutsche Börse.

ISIN: DE000KC01000; WKN: KC0100 ISIN: DE000KC01V24; WKN: KC01V2

Media Contacts:

Worthington Steel

Melissa Dykstra

Vice President, Corporate Communications and Investor Relations

Phone: 614-840-4144

[email protected]

European Media Contact

Brunswick Group

Julia Klostermann

Director

+49 174-740-2796

[email protected]

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