Reliance, Inc. Subsidiary AMI Metals, Inc. Awarded Significant Government Infrastructure and Defense Projects

• Multi-year contract with U.S. Department of Homeland Security (“DHS”) for up to $2.24 billion to provide steel and steel logistics support services
• Five-year IDIQ contract for up to $654 million to supply aluminum plate across multiple Lockheed Martin Corporation (“Lockheed Martin”) defense platforms

PHOENIX, March 10, 2026 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE: RS) announced today that its wholly-owned subsidiary, AMI Metals, Inc. (“AMI”) has been awarded two significant contracts for United States government infrastructure and defense projects, reinforcing the Company’s position as a trusted partner in the aerospace and defense market.

• AMI was awarded a multi-year contract by the United States DHS to provide steel and steel logistics support services for the construction of the border wall for a total maximum estimated value of up to $2.24 billion. The contract runs from February 11, 2026 through December 31, 2028. Under the agreement, AMI will manage procurement, transportation, warehousing, and distribution of steel bollards and steel plates to support construction along the Southwest U.S. border. Steel deliveries are expected to begin in the second quarter of 2026. The financial outlook for the first quarter of 2026 provided by Reliance management on February 18, 2026 remains unchanged and does not include the benefits of this award. Additional financial details will be provided during Reliance’s first quarter 2026 earnings call on April 23, 2026.
  
  
  
  
• Additionally, AMI was awarded a five-year contract, including option years, to process aluminum plate for multiple Lockheed Martin platforms, including the F-35 Lightning II program. The indefinite delivery/indefinite quantity (IDIQ) agreement has a maximum estimated value of $654 million extending from January 1, 2027 through December 31, 2028 with a maximum of three one-year extensions, and includes value-added, just-in-time, cut-to-size and cut-to-shape processing of aluminum plate for many of Lockheed Martin’s facilities, partners, and subcontractors.

“We are excited to be entrusted with these large and strategically important awards,” said Karla Lewis, Reliance's President and Chief Executive Officer. “These wins underscore Reliance’s ability to serve our customers on the largest and most complex programs, bringing together our scale, logistics capabilities, processing expertise, and deep experience managing critical metal supply chains. Through our family of companies, including AMI, we have the capacity, talent, and capital to support major defense and infrastructure projects across carbon steel, aluminum, and other metal products, while also serving high‑growth sectors such as data centers and energy. Our diversified platform allows us to meet the needs of both large systems integrators and solutions providers as well as small-order, quick‑turn customers. These awards also reflect the strength of our long‑standing relationships with our domestic mill suppliers and the trusted customer service our teams deliver every day throughout the Reliance Family of Companies.”

About Reliance, Inc.

Founded in 1939, Reliance, Inc. (NYSE: RS) is a leading global diversified metal solutions provider and the largest metals service center company in North America. Through a network of approximately 310 locations in 41 states and 10 countries outside of the United States, Reliance provides value-added metals processing services and distributes a full-line of over 100,000 metal products to more than 125,000 customers in a broad range of industries. Reliance focuses on small orders with quick turnaround and value-added processing services. In 2025, Reliance’s average order size was $3,120, approximately 49% of orders included value-added processing, and approximately 40% of orders were delivered within 24 hours. Reliance’s press releases and additional information are available on the Company’s website at .

Forward-Looking Statements

This press release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expect,” “anticipate,” “believe,” and similar words and may include, but are not limited to, discussions of Reliance’s liquidity, business strategies including execution of capital allocation priorities and stockholder returns, and expectations concerning the Company’s performance under government contracts, future results of operations and capital resources. Forward-looking statements involve known and unknown risks and uncertainties and are not guarantees of future performance. The expected benefits of the contracts may not materialize as expected. Actual outcomes and results may differ materially from these forward-looking statements as a result of various important factors, including, but not limited to, changes in U.S. government spending or policy that may affect government customers; risks associated with U.S. government sales, including availability of funding and provisions that allow the government to unilaterally terminate or modify contracts for convenience; as well as those risks and uncertainties disclosed in our most recent Form 10-K filed with the United States Securities and Exchange Commission and subsequent reports. These forward-looking statements are based on management's expectations and assumptions as of today’s date and Reliance disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason, except as may be required by law.

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