Worthington Steel, Inc.

Income from investments Accounting policies Dividends are recognized when the right to receive payment is legally established.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

Income from investments comprises dividends and measurement gains/losses on unconsolidated affiliated companies and other investments and breaks down as follows: ( thousand) 2025 2024 Dividends 912 107 Fair value changes from the measurement of equity instruments -2,477 -1,714 Income from investments -1,565 -1,607 The changes in fair value from the measurement of equity instruments relate to investment by kloeckner.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

On June 1, 2026, Worthington Steel issued $700,000,000 aggregate principal amount of its 7.750% senior secured notes due 2033 ( Note Offering ), and entered into a seven-year senior secured term loan credit facility in an aggregate principal amount of $700,000,000 ( Term Loan Credit Facility ).

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

The net proceeds of the Note Offering, together with borrowings under the Term Loan Credit Facility and cash on hand, were intended to fund the Klöckner Acquisition, to repay certain existing indebtedness of Worthington Steel and Klöckner, to pay related transaction costs and expenses, and for general working capital purposes.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

On June 1, 2026, Worthington Steel also entered into the Third Amendment to its Revolving Credit and Security Agreement to expand collateral and align with the term loan structure.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

(D) Reflects the issuance of the Term Loan Credit Facility and the Note Offering in an aggregate principal amount of $700.0 million and $700.0 million, respectively, as adjusted for debt issuance costs of $58.4 million.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

This positive negotiation outcome was achieved because the company was looking for a strategic partner to support its customers in building strong value chains to bolster Europe s defense capabilities and infrastructure development through investment and sharing of expertise, and to lay a basis for future growth in the strategically increasingly important defense sector.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

31, 2025 Consideration paid = remuneration (cash) -693 1,505 811 Carrying amount of net assets sold -1,107 1,747 640 Gain on disposal before tax and reclassification of currency translation reserve 445 -242 203 Reclassification of currency translation reserve -19,568 -56 -19,625 Transaction costs -250 -47 -297 Loss on disposal after income taxes -19,374 -345 -19,719 As part of the Group s Focus on higher value-added business and the service center business, the decision was made early in the second half-year to sell seven US distribution sites.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

The assessment of activities required by the standard did not identify investing in assets or providing financing to customers as a (specified) main business activity for Klöckner.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026

Special items affecting the results Financial reporting impact of geopolitical uncertainties and risks There has been no material change in the assessment of geopolitical and trade-related uncertainties, including the war in Ukraine, conflicts in the Middle East and global trade restrictions.

SEC original ↗Worthington Steel, Inc. — Earnings release (8-K exhibit)EX-99Aug 19, 2026