2020 Annual Report

In 2020, the coronavirus pandemic tested the strength of our longstanding strategy – and we proved its resilience. Reliance conscientiously cared for the health, safety, and wellbeing of our employees. They, in turn, worked nimbly under ever-changing circumstances to remain customer-centered while proactively reducing expenses and focusing on continuous improvement. As a Family, our companies collaborated, innovated, and executed: together, we met our inventory turn goal, achieved a second consecutive record annual gross profit margin, and generated cash flow fromoperations of $1.17 billion – which was used on stock repurchases, increaseddividends, andoperating investments tobenefit all our stakeholders. Further, Reliance formalized our commitment to operating ethically and responsibly by creating a Sustainability MissionStatement.While our strategy based on product, process, geographical, and endmarket diversity and decentralization of operations helped us achieve many milestones, Reliance’s true foundation is the strength and resolve of our people. We attribute our success to them all. More than a year on, we’ve learned many lessons. Moving ahead, Reliance is safer, better prepared, and emerging stronger than ever.

2020 ANNUAL REPORT

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