Mr. Gregg Ruhl reports

ALGOMA CENTRAL CORPORATION TO RELEASE THIRD QUARTER 2026 RESULTS ON NOVEMBER 6, 2026; ANNOUNCES PRELIMINARY RESULTS

Algoma Central Corp. has released preliminary, unaudited financial results for the three and nine months ended Sept. 30, 2026.

Based on preliminary results, Algoma expects to report the following for the third quarter of 2026:

• Revenue of approximately $288-million, compared with $228-million in the third quarter of 2025;
• Net earnings of approximately $54-million, compared with $39-million in the third quarter of 2025;
• Basic and diluted earnings per share of approximately $1.34, compared with 97 cents in the third quarter of 2025;
• EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately $95-million, compared with $90-million in the third quarter of 2025.

Revenue is expected to increase approximately 26 per cent compared with the third quarter of 2025, driven by higher freight rates, the expansion of the domestic dry-bulk fleet, and increased grain and construction volumes, which more than offset lower iron and steel volumes and an increase in dry-docking days. Net earnings is expected to increase approximately 37 per cent and include a one-time gain of $9-million from the sale of two older vessels. Excluding this gain, net earnings is expected to increase approximately 15 per cent.

For the nine months ended Sept. 30, 2026, the company expects to report revenue of approximately $674-million, compared with $547-million for the corresponding period in 2025, net earnings of approximately $92-million, compared with $49-million for the corresponding period in 2025, earnings per share of approximately $2.27, compared with $1.21 for the corresponding period in 2025, and EBITDA of approximately $182-million, compared with $160-million for the corresponding period in 2025.

"Algoma is expecting strong third quarter results, reflecting continued strength in customer demand and freight rates in addition to the benefits of the strategic investments we made across our fleets. These investments enhance our scale, operating capabilities and growth potential. Our diversified business continues to achieve profitable growth despite the impact of global tariffs and geopolitical uncertainty due to the strength of our unique operating platform. Additionally, the recent increase in our regular dividend enables us to provide a meaningful return to shareholders while continuing to invest in the future of our business," said Gregg Ruhl, president and chief executive officer of Algoma Central. "We are confident in Algoma's outlook and the long-term growth opportunities ahead."

Preliminary results disclaimer

The expected revenue, net earnings, earnings per share and EBITDA results included in this press release are preliminary, unaudited, have not been reviewed by the company's auditor, are subject to change and are based on information available to management as of the date of this press release and management's initial analysis of results of operations for the third quarter of 2026. Algoma's consolidated financial statements for the third quarter of 2026 are not yet available and remain subject to completion of the company's normal quarter-end closing and review procedures. Accordingly, final results may differ materially from the preliminary results presented above. Investors are cautioned not to place undue reliance on the preliminary results.

Algoma expects to release its complete financial results for the three and nine months ended Sept. 30, 2026, on Nov. 6, 2026. The company's third quarter earnings release and full financial results will be available on the company's website and on SEDAR+.

About Algoma Central Corp.

Algoma Central is a global provider of marine transportation, owning and operating dry and liquid bulk carriers that serve critical industries throughout the Great Lakes-St. Lawrence region and internationally. Focused on delivering exceptional customer service, utilizing fuel efficient vessels and advancing innovative technologies, Algoma drives productivity while contributing to economic growth, strengthening communities and supporting its people. Algoma truly is Your Marine Carrier of Choice.

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