Mr. Mike Moraca reports

ALGOMA STEEL TO ANNOUNCE FISCAL 2023 FIRST QUARTER RESULTS AUGUST 3, 2022

Algoma Steel Group Inc. will release its fiscal 2023 first quarter financial results after the market closes on Wednesday, Aug. 3, 2022. A webcast and conference call will be held on Thursday, Aug. 4, 2022, at 11 a.m. ET to review the company's results, discuss recent events and conduct a question and answer session.

The live webcast and archived replay of the conference call can be accessed on the investors section of the company's website. For those unable to access the webcast, the conference call will be accessible domestically or internationally by dialling 877-425-9470 or 201-389-0878, respectively. Upon dialing in, please request to join the Algoma Steel fiscal first quarter conference call. To access the replay of the call, dial 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13731533.

About Algoma Steel Group Inc.

Based in Sault Ste. Marie, Ont., Canada, Algoma is a fully integrated producer of hot- and cold-rolled steel products, including sheet and plate. With a current raw steel production capacity of an estimated 2.8 million tons per year, Algoma's size and diverse capabilities enable it to deliver responsive customer-driven product solutions straight from the ladle to direct applications in the automotive, construction, energy, defence and manufacturing sectors. Algoma is a key supplier of steel products to customers in Canada and Midwest United States and is the only producer of plate steel products in Canada. Algoma's mill is one of the lowest-cost producers of hot-rolled sheet steel (HRC) in North America owing in part to its state-of-the-art direct strip production complex (DSPC), which is the newest thin slab caster in North America with direct coupling to a basic oxygen furnace (BOF) melt shop.