Olympic Steel Announces Quarterly Cash Dividend; Updates Time of Fourth-Quarter Earnings Conference Call

CLEVELAND – Olympic Steel, Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced the Company’s Board of Directors approved a regular quarterly cash dividend of $0.02 per share. The dividend is payable on March 15, 2021, to shareholders of record on March 1, 2021.

As previously announced, the Company intends to release its 2020 fourth-quarter financial results before the market opens on February 25, 2021. The Company will also host a conference call with investors and analysts now starting at 9:00 a.m. ET that same day. Participating on the call will be Richard T. Marabito, Chief Executive Officer, Andrew Greiff, President and Chief Operating Officer, and Richard A. Manson, Chief Financial Officer. The call webcast can be accessed on the Company’s website – www.olysteel.com. If you are unable to listen to the call live, the webcast will be archived and available for replay.

About Olympic Steel

Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminum, tin plate, and metal-intensive branded products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricator of value-added parts and components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 36 facilities in North America.

For additional information, please visit the Company’s website at www.olysteel.com

Richard A. Manson

Chief Financial Officer

(216) 672-0522

ir@olysteel.com

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