COMMERCIAL METALS Business Summary

Commercial Metals Company (CMC) operates a vertically integrated business model focused on the manufacturing, recycling, and fabrication of steel and metal products, primarily generating revenue through transaction-based sales of reinforcing bar (rebar), merchant bar, and wire rod. The company is organized into three primary segments: the North America Steel Group, the Europe Steel Group, and the recently expanded Construction Solutions Group, which includes the Tensar geogrid business and a growing precast concrete platform. Following the strategic acquisitions of Concrete Pipe & Precast (CP&P) and Foley Products in late 2025, CMC has aggressively pivoted toward a higher-margin, less-volatile business mix to capitalize on infrastructure and energy transition demand. CMC competes directly with industry giants such as Nucor Corporation, Steel Dynamics (STLD), and Reliance Steel & Aluminum Co., maintaining a dominant market position as the largest producer of rebar in North America and Central Europe. Originally founded in 1915 by Jacob Feldman as a scrap trading business, CMC is currently led by President and CEO Peter R. Matt, who assumed the role in September 2023 following a 30-year investment banking career at Credit Suisse and a tenure as CFO of Constellium SE. The executive team includes Senior VP and CFO Paul J. Lawrence, a veteran of the steel industry with prior leadership roles at Gerdau and Co-Steel, and Chief Strategy Officer Kekin Ghelani, who joined in 2024 to spearhead M&A and integration efforts. The Board of Directors is chaired by Robert S. Wetherbee, the Independent Chairman who succeeded long-time leader Barbara R. Smith in late 2024. Notable board members include Tandra Perkins, an executive at Phillips 66, and Dawne S. Hickton, highlighting a leadership pedigree rooted in industrial operations and digital transformation. The company is a component of the S&P 400, with significant institutional backing from major investment firms including Vanguard and BlackRock.