CLEVELAND CITY FORGE, INC.

an investment option, all contributions are invested in an age-based default fund (based upon the participant's age), as defined in the Plan agreement. Vesting - Participants are immediately vested in all contributions, the employer match, and earnings thereon when they are made to the Plan. Fully Benefit-Responsive Investment Contracts - This investment is a general account product offered through a group annuity contract and the participant's principal and interest are fully guaranteed by the entire general account assets of the insurance company. Participant transfers may be restricted for up to 30 days in the event of excessive participant trading. If the Plan Sponsor chooses a book value payout for termination, participant transfer restrictions will apply until the money is paid to t

tions from participants 4,196,234 5,519,500 Net appreciation in fair value of investments 11,605,773 Total additions 18,011,021 Deductions: Benefits paid to participants 6,186,546 Administrative expenses 17,384 Total deductions 6,203,930 Net increase 11,807,091 Net assets available for benefits: Beginning of year 96,175,537 End of year $ 107,982,628 The accompanying notes are an integral part of these financial statements. 4 City Holding Company 401(k) Plan and Trust Notes to Financial Statements Note 1. Description of Plan The following description of the City Holding Company 401(k) Plan and Trust (the “Plan”) provides only general information. Participants should refer to the plan document for a complete description of the Plan's provisions. General - The Plan is a defined contribution s

ber 31 $ 619 $ 692 $ 15 $ 19 DEFINED CONTRIBUTION PLANS Most employees are eligible to participate in various defined contribution plans. Certain of these plans have features with matching contributions or other Company contributions based on our financial results. Company contributions to these plans are expensed as incurred. Total expense from these plans was $ 59 million, $ 63 million and $ 59 million in 2025, 2024 and 2023, respectively. MULTlEMPLOYER PLANS We contribute to multiemployer pension plans according to collective bargaining agreements that cover certain union-represented employees. The risks of participating in these multiemployer plans are different from the risks of participating in single-employer pension plans in the following respects: • Assets contributed to a multiem

13.48 — 20.11 — 21.05 Outstanding at end of year 0.2 $ 11.86 0.2 $ 11.77 0.5 $ 9.59 Exercisable at end of year 0.2 $ 11.86 0.2 $ 11.77 0.5 $ 9.59 Stock options granted to date are fully vested with an expiration date of ten years from the date of grant. The total intrinsic value of options exercised in 2025 and 2024 was nominal and $ 4 million, respectively. As of December 31, 2025, all outstanding options were exercisable. For options outstanding as of December 31, 2025, the weighted-average remaining contractual life was 2.3 years and the aggregate intrinsic value was $ 1 million. The fair value of stock options is estimated on the date of grant using a Black-Scholes model using the grant date price of our common shares, the option exercise price, the option’s expected term, the volatili

ant synergy opportunities from the Stelco Acquisition were identified and achieved, including asset and capital expenditure optimization, procurement savings, selling, general and administrative expenses, duplicative public company costs and other opportunities. IMPROVE FINANCIAL FLEXIBILITY Given the cyclicality of our business, it is important to us to be in the financial position to easily withstand economic cycles and be opportunistic when attractive strategic opportunities arise. Since becoming a steel company in 2020, we have demonstrated our ability to generate healthy free cash flow and use it to reduce substantial amounts of debt, return capital to shareholders, and make investments to both improve and grow our business. We have a track record of demonstrating that we can quickly