Mr. Michael Garcia reports

ALGOMA STEEL INSTALLS FIRST STRUCTURAL COLUMNS FOR ELECTRIC ARC STEEL SHOP

Algoma Steel Group Inc. installed the first structural steel columns this week at its electric arc steelmaking facility (EAF) in Sault Ste. Marie, Ont., Canada, and Ontario Premier Doug Ford visited the site to commemorate the project milestone.

Algoma's EAF project is the largest industrial-scale carbon reduction project in Canada, supported by the Ontario government through its commitment to critical energy infrastructure, and by the government of Canada.

Algoma Steel partnered with Hamilton, Ont.-based Walters Group Inc. in fabricating and erecting the main EAF building and ancillary structures, which include leading technology to reduce sound and emissions. Walters is using Algoma's steel plate products in the fabrication of the heavy structural components, and working with local industrial contractor SIS Manufacturing Inc. for the fabrication of these key elements. On-site assembly of the building structure is targeted for completion within the year.

Algoma chief executive officer Michael D. Garcia commented on the significant milestone: "Given the significance of Algoma's transition to Ontario's carbon reduction goals, we were excited to celebrate this important milestone with Premier Ford today. We are making incredible progress on the EAF project, which remains on time and on budget, and most importantly, the team is working safely. The level of excitement in the community and among our work force is remarkable as we look to a greener future with an expected 70-per-cent reduction in greenhouse gas emissions. When paired with Ontario's low-carbon power grid, we expect this transition will position Algoma as one of the leading producers of green steel in North America."

Completion of the $703-million (budget) EAF project is on track for mid-2024.

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. Driven by a purpose to build better lives and a greener future, Algoma is positioned to deliver responsive, customer-driven product solutions to applications in the automotive, construction, energy, defence and manufacturing sectors. Algoma is a key supplier of steel products to customers in North America and is the only producer of discrete plate products in Canada. Its state-of-the-art direct strip production complex (DSPC) is one of the lowest-cost producers of hot-rolled sheet steel (HRC) in North America.

Algoma is on a transformation journey, modernizing its plate mill and adopting electric arc technology that builds on the strong principles of recycling and environmental stewardship to significantly lower carbon emissions. Today Algoma is investing in its people and processes and working safely as a team to become one of North America's leading producers of green steel.

As a founding industry in its community, Algoma is drawing on the best of its rich steelmaking tradition to deliver greater value, offering North America the comfort of a secure steel supply and a sustainable future as your partner in steel.

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