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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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Participants may invest in certain investments offered by the Trustee, including a unitized Reliance common stock fund that consists principally of Reliance, Inc. common stock and interest-bearing cash that provides liquidity for trading. As of December 31, 2025 and 2024, the Plan held approximately 867,630 and 924,758 units of the Reliance, Inc. Stock Fund with fair values of $182,897,445 and $181,839,940, respectively.

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The assets and liabilities of the Reliance, Inc. Stock Fund were as follows:

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Risks and uncertainties regarding an investment in Reliance common stock can be found in “Item 1A. Risk Factors” of Reliance, Inc. Annual Report on Form 10-K for the year ended December 31, 2025 and in other documents Reliance files or furnishes with the United States Securities and Exchange Commission.

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Fair value is the price that would be received to sell the investment in an orderly transaction between market participants (an exit price). The FASB Accounting Standards Codification establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements). All investments measured within the fair value hierarchy are classified as Level 1. The Plan does not hold Level 2 or Level 3 investments.

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The following tables set forth by level, within the fair value hierarchy, the Plan’s investment assets at fair value as of December 31, 2025 and 2024:

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Certain of the Plan’s investments include shares in mutual funds, commingled funds and an interest in a common collective trust that are managed by the Trustee. The Plan also invests in shares of Reliance, Inc. common stock through the unitized Reliance common stock fund. The unitized Reliance common stock fund received $3,031,535 of dividends from Reliance, Inc. in 2025. These transactions, along with investment and fee-related transactions, participant loans, and the Plan’s participation in Fidelity’s revenue sharing program qualify as exempt party-in-interest transactions.

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The Plan received a determination letter from the Internal Revenue Service (“IRS”) dated June 13, 2019 confirming the tax qualification status of the Plan. Although the Plan has been amended since the date of this letter, the Plan Administrator believes the Plan is currently operating in compliance with the applicable requirements of the Internal Revenue Code and therefore is tax qualified.

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U.S. GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination. Plan management has concluded that, as of December 31, 2025 and 2024, there were no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax years in progress.

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Although it has not expressed any intent to do so, the Company has the right under the Plan to amend or terminate the Plan at any time, subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested with respect to Company contributions.

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Certain participant contributions and loan repayments for the year ended December 31, 2025 were not remitted to the Plan within the timeframe specified by the Department of Labor Regulation 29 CFR §2510.3-102 and, accordingly, constitute nonexempt transactions between the Plan and the Company.

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Total delinquent contributions for 2025 amounted to $2,606, of which $56 were corrected during 2025 and $2,550 were corrected subsequent to year end.

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Certain delinquent participant contributions identified in the 2024 plan year were corrected during 2025.

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As of the Form 5500 filing date, all such amounts have been corrected. The Company remitted applicable lost earnings to the affected participants.

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The following are reconciliations of net assets and changes in net assets available for benefits as reported on Form 5500 with that reported in the accompanying financial statements:

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On January 1, 2026, non-union participants of the Mid-West Materials, Inc. Employees 401(k) Profit Sharing Plan and Trust (EIN:34-0793643) with net assets of approximately $2.3 million (unaudited) merged into the Plan. Participant balances transferred into the Plan and eligible employees of Mid-West Materials, Inc. not covered by a collective bargaining agreement became eligible to participate in the Plan and were credited with prior service for vesting.

Employer Identification Number: 95-1142616

Plan Number: 003

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