Your illustrated dial and ring indicates an Eagle combination lock. Two different model Eagle locks were used on this particular Schwab safe in this era.
By the lock’s dial ring design, your Schwab safe sports a 2055. The opening sequence you posted is correct for the safe and lock in question. Although Schwab’s original operating directions indicate this is a Schwab OC3 lock, it’s actually an Eagle 2055.
Even more confusing, the OC3 number refers to a Yale lock which Schwab also utilized at this time.
DH