SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AT END OF YEAR

Form 5500, Schedule H, Part IV, Line 4i

Worthington Steel, Inc.

401(k) Retirement Savings Plan

EIN 92-2632000, Plan Number 001

December 31, 2025

(a)

(b)

(c)

(d)

(e)

Identity of Issue, Borrower,
Lessor, or Similar Party

Description of Investment Including
Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value

Cost

Current
Value

Employer Securities:

*

Worthington Steel, Inc.

Common Stock – 473,135 - shares

N/A

$

16,381,756

Total Employer Securities

$

16,381,756

Mutual Funds:

*

Fidelity 500 Index Fund

Mutual Fund – 281,193 - shares

N/A

$

66,845,156

*

Fidelity Mid Cap Index Fund

Mutual Fund – 311,007 - shares

N/A

11,485,475

*

Fidelity Small Cap Index Fund

Mutual Fund – 95,330 - shares

N/A

2,948,543

*

Fidelity Advisor Focused Emerging Markets Fund Class I

Mutual Fund – 99,605 - shares

N/A

4,233,222

*

Fidelity International Index Fund

Mutual Fund – 123,297 - shares

N/A

7,496,462

*

Fidelity Balanced Fund Class K

Mutual Fund – 825,466 - shares

N/A

26,530,493

*

Fidelity U.S. Bond Index Fund

Mutual Fund – 109,467 - shares

N/A

1,155,968

*

Fidelity Government Money Market Fund Class K6

Mutual Fund – 10,710 - shares

N/A

10,710

*

Fidelity Freedom Index 2010 Fund Premier II Class

Mutual Fund – 102,303 - shares

N/A

1,381,085

*

Fidelity Freedom Index 2015 Fund Premier II Class

Mutual Fund – 117,711 - shares

N/A

1,775,078

*

Fidelity Freedom Index 2020 Fund Premier II Class

Mutual Fund – 406,253 - shares

N/A

6,845,361

*

Fidelity Freedom Index 2025 Fund Premier II Class

Mutual Fund – 791,830 - shares

N/A

16,082,076

*

Fidelity Freedom Index 2030 Fund Premier II Class

Mutual Fund – 1,628,812 - shares

N/A

36,794,864

*

Fidelity Freedom Index 2035 Fund Premier II Class

Mutual Fund – 1,564,671 - shares

N/A

41,620,260

*

Fidelity Freedom Index 2040 Fund Premier II Class

Mutual Fund – 1,545,144 - shares

N/A

44,531,063

*

Fidelity Freedom Index 2045 Fund Premier II Class

Mutual Fund – 913,859 - shares

N/A

28,156,004

*

Fidelity Freedom Index 2050 Fund Premier II Class

Mutual Fund – 884,511 - shares

N/A

27,331,397

*

Fidelity Freedom Index 2055 Fund Premier II Class

Mutual Fund – 844,312 - shares

N/A

21,470,865

*

Fidelity Freedom Index 2060 Fund Premier II Class

Mutual Fund – 631,470 - shares

N/A

13,608,175

*

Fidelity Freedom Index 2065 Fund Premier II Class

Mutual Fund – 368,150 - shares

N/A

6,420,533

*

Fidelity Freedom Index 2070 Fund Premier II Class

Mutual Fund – 13,482 - shares

N/A

166,367

*

Fidelity Freedom Index Retirement Fund Premier II Class

Mutual Fund – 139,125 - shares

N/A

1,716,805

Dodge & Cox Stock Fund Class I

Mutual Fund – 2,541,360 - shares

N/A

42,161,166

Janus Henderson Enterprise Fund Class T

Mutual Fund – 10,592 - shares

N/A

1,476,257

Nationwide Geneva Small Cap Growth Fund Class R6

Mutual Fund – 90,986 - shares

N/A

7,121,497

Victory RS Partners Fund Class A

Mutual Fund – 327,677 - shares

N/A

8,935,746

MFS International Diversification Fund Class R3

Mutual Fund – 707,833 - shares

N/A

19,203,496

Victory Sycamore Established Value Fund Class Y

Mutual Fund – 12,279 - shares

N/A

552,821

PIMCO Income Fund Institutional Class

Mutual Fund – 686,294 - shares

N/A

7,542,374

Performance Trust Total Return Bond Fund Class Institutional

Mutual Fund – 356,994 - shares

N/A

7,100,606

Total Mutual Funds

$

462,699,925

Common Collective Trust:

Harbor Capital Appreciation CIT Class 5

Common Collective Trust – 3,672,688 - Units

N/A

75,069,749

Total Common Collective Trust

$

75,069,749

Pooled Separate Account:

New York Life Anchor Account

Pooled Separate Account – 21,730,253 - Units

N/A

$

21,730,253

Total Pooled Separate Account

$

21,730,253

Participant Notes Receivable:

*

Participant Notes Receivable

Interest rates of 4.25% - 10.25%

N/A

$

7,801,068

Due dates range from 2026 - 2035

Total Participant Notes Receivable

$

7,801,068

Total

$

583,682,751

*Party-in-Interest to the Plan