CARPENTER INDUSTRIAL SUPPLY CO.

articipant is entitled is the benefit that can be provided from the participant's vested account. Vesting All contributions and plan earnings or losses thereon are immediately and fully vested and non-forfeitable. 5 Table of Contents Carpenter Technology 401(k) Retirement Plan Notes to Financial Statements December 31, 2025 and 2024 Notes Receivable from Participants Participants may borrow from their accounts a minimum of $ 1,000 up to a maximum equal to the lesser of $ 50,000 minus the amount of the highest outstanding loan balance on any plan loan during the preceding twelve months, or 50 % of their vested account balance minus the current outstanding balance on any other plan loan. Terms range from one to five years for a general purpose loan, and one to ten years for a primary residen

s from other qualified benefit plans. Participant contributions to the Plan are recorded in the period that payroll deductions are made from the participants. The Plan includes an auto-enrollment provision whereby all new eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 4 % of eligible compensation. Deferrals will automatically increase by 1 % annually and will continue to increase 1 % annually until a deferral rate of 15 % is attained. The Company contributes an amount equal to 3 % of each participant's base pay and a matching contribution of up to 6 %, as defined by the plan document. Participants direct the investment of all contributions into vari

ts 1,487 Contributions: Participants 34,858 Participant rollovers 2,239 Employer 29,135 Total contributions 66,232 Total additions 232,040 Benefits paid to participants ( 83,630 ) Administrative expenses ( 856 ) Total deductions ( 84,486 ) Net increase in net assets available for benefits 147,554 Transfers in 12 Net assets available for benefits, beginning of year 885,360 Net assets available for benefits, end of year $ 1,032,926 See accompanying notes to financial statements. 4 Table of Contents Carpenter Technology 401(k) Retirement Plan Notes to Financial Statements December 31, 2025 and 2024 1. Description of the Plan The following description of the Carpenter Technology 401(k) Retirement Plan (the "Plan") provides general information. A more complete description of the Plan's provisio

a defined contribution benefit plan, the Tractor Supply Company 401(k) Retirement Savings Plan (the “401(k) Plan”), which provides retirement benefits for eligible employees. The Company matches (in cash) 100 % of the employee’s elective contributions up to 3 % of eligible compensation plus 50 % of the employee’s elective contributions from 3 % to 6 % of eligible compensation. In no event shall the total Company match made on behalf of the employee exceed 4.5 % of the employee’s eligible compensation. All current contributions are immediately vested. Company contributions to the 401(k) Plan were approximately $ 22.1 million, $ 20.1 million, and $ 18.8 million during fiscal 2025, 2024, and 2023, respectively. Note 12 – Commitments and Contingencies Contractual Commitments At December 27, 2

pected term will increase compensation expense. Forfeiture Rate — This is the estimated percentage of options granted that are expected to be forfeited or canceled before becoming fully vested. This estimate is based on historical experience. An increase in the forfeiture rate will decrease compensation expense. Dividend Yield — This is the estimated dividend yield for the weighted average expected term of the option granted. An increase in the dividend yield will decrease compensation expense. 58 Table of Contents The Company issues shares for options when exercised. A summary of stock option activity is as follows: Stock Option Activity Options Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ( in thousands)

e expressed as a percent of net sales. Fiscal Year 2025 2024 Net sales 100.00 % 100.00 % Cost of merchandise sold (a) 63.58 63.74 Gross margin (a) 36.42 36.26 Selling, general and administrative expenses (a) 23.79 23.39 Depreciation and amortization 3.18 3.00 Operating income 9.45 9.86 Interest expense, net 0.45 0.37 Income before income taxes 9.01 9.49 Income tax expense 1.95 2.09 Net income 7.06 % 7.40 % (a) Our gross margin amounts may not be comparable to those of other retailers since some retailers include all of the costs related to their distribution facility network in cost of merchandise sold and others (like our Company) exclude a portion of these distribution facility network costs from gross margin and instead include them in Selling, general, and administrative expenses; refe