Mr. Michael Garcia reports

ALGOMA STEEL REPORTS COKE CONVEYOR FIRE

Algoma Steel Group Inc. suffered a fire on Aug. 7, 2022, at one of the coal conveyors that supplies coal to two of its three coke batteries. No one was injured in this event.

Algoma produces its own coke from three production units and supplements with purchased coke from various suppliers. Iron and steelmaking operations are expected to continue in the normal course while the damage is repaired, as the company can continue to produce coke at a reduced rate, and anticipates it has sufficient coke inventory and supply contracts for purchased coke to support steelmaking operations. The company is continuing to assess the damage and complete repair plans.

Algoma president and chief executive officer Michael Garcia commented, "Our emergency response personnel, together with Sault Ste. Marie Fire Services, are to be commended for their quick action suppressing the blaze and containing damages without injury to any of our personnel."

About Algoma Steel Group Inc.

Based in Sault Ste. Marie, Ont., 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; it 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. Algoma has achieved several meaningful improvements over the past several years that are expected to result in enhanced long-term profitability for the business. Algoma has upgraded its DSPC facility and recently installed its No. 2 ladle metallurgy furnace. Additionally, Algoma has cost-cutting initiatives under way and is in the process of modernizing its plate mill facilities. Today, Algoma is on a transformation journey, investing in its people and processes, optimizing and modernizing to secure a sustainable future. The company's customer focus, growing capability and courage to meet the industry's challenges head-on position the company firmly as your partner in steel.

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