Mr. Michael Moraca reports

ALGOMA STEEL ANNOUNCES CONFERENCE CALL AND PROVIDES GUIDANCE FOR THE SECOND QUARTER 2025

Algoma Steel Group Inc. will release its 2025 second quarter financial results after the market closes on Tuesday, July 29, 2025. A webcast and conference call will be held on Wednesday, July 30, 2025, at 11 a.m. Eastern Time, to review the company's results, discuss recent events and conduct a question-and-answer session. The company also provided guidance for its quarter ended June 30, 2025.

Total steel shipments for the quarter are expected to be approximately 472,000 tons and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) is expected to be in the range of negative $30-million to negative $35-million.

Michael Garcia, chief executive officer of Algoma, commented: "Our results for the quarter were in line with our expectations, with particular strength once again in our plate business. Macroeconomic uncertainties and tariff policy continue to impact our sector, but with first arc and first steel production from unit one of our electric arc furnace project achieved in the last few days, we are forging ahead with our transformation into what is expected to be one of North America's greenest producers of steel."

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 dialling in, please request to join the Algoma Steel second quarter conference call. To access the replay of the call, dial 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13754580.

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.

We seek Safe Harbor.