Russel Metals Inc. — Proxy Solicitation & Information Statement 2026

Mar 31, 2026

Russel Metals

Notice of 2026 Annual General Meeting of Shareholders and Notice of Availability of Meeting Materials

NOTICE OF MEETING

When: May 6,2026
Time: 10:00 a.m. (Eastern Time)
Where: 6600 Financial Drive
Mississauga, ON
L5N 7J6

BUSINESS OF THE MEETING

1. To receive and consider the consolidated financial statements of the Company and its subsidiaries for the year ended December 31, 2025, together with the report of the auditors thereon;
2. To elect Directors;
3. To appoint KPMG LLP as auditors and to authorize the Directors to fix their remuneration;
4. To approve the advisory resolution to accept the approach to executive compensation disclosed in the Circular; and
5. To transact such further or other business as may properly come before the Meeting or any postponement or adjournment thereof.

You can read more about each item of the business of the meeting commencing on page 7 of the 2026 Information Circular (the "Circular").

NOTICE AND ACCESS

You are receiving this notice because you own common shares of Russel Metals as of the close of business on March 17, 2026.

As permitted by the Canadian Securities Administrators we are using "Notice and Access" to deliver the Circular to our shareholders for our Annual General Meeting (the "Meeting").

How to access the meeting materials online:
- on our website: https://www.russelmetals.com/en/documents/financial-reports/ (see "Investor Relations" and "Financial Reports"); or
- on SEDAR+ (under the Russel Metals' profile) www.sedarplus.ca

We are also using "Notice and Access" to deliver our 2025 Annual Report, which includes management's discussion and analysis, auditor's report and annual consolidated financial statements to our registered and beneficial shareholders.

This means that instead of receiving a paper copy of these meeting materials you are receiving this notice, which provides information on how to access the meeting materials online.

You will also find below information on how to request paper copies of the meeting materials, if you prefer.

Using Notice and Access reduces printing and mailing costs and is more environmentally friendly.

You will find enclosed with this notice, a form of proxy or voting instruction form, enabling you to vote at our Meeting.

Notice of 2026 Annual General Meeting of Shareholders | Notice of Availability of Meeting Materials

Continued on reverse side

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Notice of 2026 Annual General Meeting of Shareholders | Notice of Availability of Meeting Materials

HOW TO VOTE

Registered and Beneficial Shareholders are asked to return their completed proxies or voting instruction forms to the applicable parties, or exercise their vote by the voting deadline, Monday, May 4, 2026 at 10:00 a.m. (Eastern Time). Please refer to your proxy or voting instruction form for detailed instructions on how to vote. Please note, you cannot vote by returning this notice.

Detailed information about voting commences on page 9 of the Circular. Please review the Circular before you vote your shares.

HOW TO REQUEST A PAPER COPY OF THE MEETING MATERIALS

You can request a free paper copy of the meeting materials up to one year from the date the Circular was filed on SEDAR+ (on or about March 31, 2026).

| Registered Shareholder
You are a registered shareholder if your shares are registered in your name.
Phone: 1-844-916-0609 (English)
Phone: 1-844-973-0593 (French) | Beneficial or Non-registered Shareholder
You are a beneficial or non-registered shareholder if your shares are registered in the name of an intermediary, such as a bank, trust company, investment dealer, agency, or other institution. Most shareholders are beneficial or non-registered shareholders.
Phone: 1-877-907-7643 and enter the provided 16-digit control number
Internet: www.proxyvote.com and enter the provided 16-digit control number |
| --- | --- |

In order to receive the meeting materials in advance of the voting deadline and the meeting date, we must receive your request before 5:00 p.m. (Eastern Time) on Wednesday, April 22, 2026. Please note that you will not receive another form of proxy or voting instruction form, in order to exercise your voting rights please keep the one you received with this notice.

If you submit your request after the Meeting, the meeting materials will be sent to you within 10 calendar days of receiving your request.

QUESTIONS

If you have questions about this notice or notice-and-access generally, please contact Broadridge Investor Communications Corporation:

Phone: 1-844-916-0609 (English)

1-844-973-0593 (French)

Email: noticeandaccess@broadridge.com