Mr. Mike Moraca reports

ALGOMA STEEL TO ANNOUNCE FISCAL 2024 SECOND QUARTER RESULTS NOVEMBER 2, 2023

Algoma Steel Group Inc. will release its second quarter fiscal 2024 financial results after the market closes on Thursday, Nov. 2, 2023. A webcast and conference call will be held on Friday, Nov. 3, 2023, at 10 a.m. Eastern Time, 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 will be available on the investors section of the company's website. For those unable to participate in the webcast, the conference call will be accessible domestically or internationally by dialling 877-425-9470 or 201-389-0878, respectively. Upon dialling in, please request to join the Algoma Steel fiscal second quarter conference call. To listen the replay of the call, dial 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13741963.

About Algoma Steel Group Inc.

Based in Sault Ste. Marie, Ont., Canada, Algoma Steel 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 Steel is positioned to deliver responsive, customer-driven product solutions to applications in the automotive, construction, energy, defence and manufacturing sectors. Algoma Steel 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 is one of the lowest-cost producers of hot-rolled sheet steel in North America.

Algoma Steel 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 Steel is investing in its people and processes, 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 Steel 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.

We seek Safe Harbor.