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The following description of the Reliance, Inc. Master 401(k) Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

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General

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The Plan is a defined contribution plan that provides benefits to eligible employees of Reliance, Inc. and certain subsidiaries (collectively the “Company”). The Plan is subject to the applicable provisions of the Employee Retirement Income Security Act of 1974 and subsequent amendments (“ERISA”). The Plan is sponsored by Reliance, Inc. (“Reliance”) whose subsidiaries are participating employers (“Participating Employers”) in the Plan. The Plan is established for employees of the Participating Employers of the Company who are not covered by a collective bargaining agreement providing for participation in another retirement plan. The Plan is administered by the Reliance, Inc. Benefits Committee (“Plan Administrator”). The trustee of the Plan is Fidelity Management Trust Company (the “Trustee”) and the recordkeeper is Fidelity Investments Institutional Operations Company, Inc.

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Transfers from Other Plans

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Effective January 1, 2025, the following retirement plans were merged into the Plan and the related net assets were transferred to the Plan. Participant balances transferred into the plan and employees of the applicable subsidiaries became eligible to participate in the Plan and were credited with prior service for vesting.

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Participation

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Eligible employees may participate in the Plan upon completion of 30 days of employment. Eligible employees are automatically enrolled into the Plan 90 days following hire date with an initial deferral contribution of 3% of eligible compensation, unless the employee elects a different deferral contribution percentage or declines to participate. The initial deferral contribution percentage for those participants automatically enrolled into the Plan increases annually by 1% (up to a maximum of 10%), unless elected otherwise by the participant.

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Contributions

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Participants may contribute up to 50% of eligible compensation into the Plan on a pre-tax basis and/or make Roth 401(k) contributions on an after-tax basis, subject to federal limits. Participants aged 60 through 63 are eligible for “super catch-up” contributions. Additionally, participants attaining the age of 50 by the end of a Plan year can make additional “catch-up” contributions. Participating employers make matching contributions per payroll cycle and all employer contributions are discretionary, as determined by the Company.

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Participants may contribute eligible rollovers from other qualified defined benefit plans, defined contribution plans and individual retirement accounts.

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Participant Accounts

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Each participant's account is credited with the participant's contributions, employer contributions and allocation of investment earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. Participants direct the investment of their account balances into various investment funds offered by the Plan.

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Vesting

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Participants are immediately vested in their accounts with respect to participant contributions, eligible rollovers and earnings thereon. Participants vest in Company contributions and earnings thereon based upon the following schedule:

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Payment of Benefits

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Upon retirement, disability, death, or termination of service, a participant is eligible to receive a lump-sum amount equal to the value of the vested interest in his or her account. Installment payment options are also available. Other withdrawals from participants' account balances may be made under certain circumstances, as defined in the Plan document. The Plan includes certain automatic distribution provisions for participants with small account balances.

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Forfeitures

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For the year ended December 31, 2025, forfeited employer contributions totaled $2,170,563. Forfeitures used to reduce the Company’s contributions during 2025 were $2,166,782. As of December 31, 2025 and 2024, the Plan held $285,444 and $256,433, respectively, of forfeited nonvested account balances that will be used to reduce future Company contributions.

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Notes Receivable from Participants

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Participants generally may borrow from their accounts up to the lesser of $50,000 or 50% of their vested account balance. Loans are secured by the respective participant's vested account balance and are subject to interest charges. Interest rates applicable to new notes are determined by the Plan Administrator on the first day of each calendar quarter based on prevailing market rates. Loans are repaid ratably through periodic payroll deductions over a term not exceeding five years for general purpose loans and up to ten years for the purchase of a primary residence. The Plan holds notes from transferred plans whose maturities exceed ten years. As of December 31, 2025, notes receivable from participants had interest rates that ranged from 3.25% to 10.50% and maturities through August 2040. Interest earned is recorded on an accrual basis in “Interest on notes receivable from participants” in the accompanying statement of changes in net assets available for benefits. Unpaid loans determined to be in default under the terms of the notes are deemed to be distributed in accordance with the provisions of the Plan document and included in “Benefits paid” in the accompanying statement of changes in net assets available for benefits.

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Administrative Expenses

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Participant loan initiation and maintenance fees, as well as certain other transaction-based fees, are charged directly to the accounts of applicable participants.

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Recordkeeping fees and certain other administrative expenses are paid by the Company to the extent they are not offset by amounts in a suspense account that receives float income from Fidelity. Any unapplied balance in the suspense account is carried forward and used to reduce plan expenses paid by the Company.

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For the year ended December 31, 2025, $187,150 of float income from Fidelity is included in “Interest and dividends” in the statement of changes in net assets. Total administrative expenses of $394,333 included $110,000 applied from the suspense account.

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Audit and legal expenses relating to the Plan are not reflected in the accompanying financial statements, as they are paid by the Company.

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Revenue Sharing Program

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The Plan receives investment funds administrative revenue credits through its participation in Fidelity’s revenue sharing program which are reflected in “Revenue sharing program credits” in the statement of changes in net assets available for benefits.