Mr. Michael Garcia reports

ALGOMA STEEL APPLAUDS APPROVAL OF NEW 230KV TRANSMISSION LINE IN SAULT STE. MARIE, SUPPORTING REGIONAL GROWTH AND GREEN STEEL TRANSITION

Algoma Steel Group Inc. is congratulating PUC (Transmission) LP and Hydro One Sault Ste. Marie LP on each obtaining authorization pursuant to the Ontario Energy Board Act to construct a new 230-kilovolt transmission line and related transformation components in Sault Ste. Marie. The combined local transmission project improves the city's access to Hydro One's planned regional grid infrastructure upgrade as previously prioritized by the province of Ontario.

"This milestone marks a significant advancement in enhancing Sault Ste. Marie's power infrastructure, which is vital for supporting sustainable economic growth and our transformation to electric arc steelmaking -- a key part of our commitment to environmental sustainability," said Michael Garcia, president and chief executive officer of Algoma Steel.

The Ontario Energy Board (OEB) confirmed that the transmission project comprises network facilities and affirmed that no capital contribution from Algoma Steel is required. Additionally, the OEB determined that the transmission rate impacts anticipated from the projects are reasonable.

This achievement was driven by the combined efforts of PUC Transmission and Hydro One in their applications, as well as Batchewana First Nation and other supporting interveners, and underscores the strong commitment by the province of Ontario to enable investment in critical infrastructure that underpins the economic growth of our city and region. Mr. Garcia commented, "The collaboration between these organizations highlights dedication to ensuring that Sault Ste. Marie has reliable power needed to support both industrial advancement and community prosperity."

"Algoma Steel is proud to contribute to the sustainable development of Sault Ste. Marie and to support the future of green steel production in Ontario. We remain committed to delivering innovative and responsible steel solutions that benefit both the community and the environment."

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, 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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