Mr. Paul Scherzer reports

U.S. ANTITRUST REVIEW FOR CLEVELAND-CLIFFS' ACQUISITION OF STELCO WAITING PERIOD EXPIRES

The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with Stelco Holdings Inc.'s pending sale to Cleveland-Cliffs Inc. The expiration of the HSR act waiting period clears an important regulatory hurdle and marks a significant step toward the closing of the sale of Stelco, which is expected to occur in the fourth quarter of 2024 following the satisfaction or waiver of other customary closing conditions and approvals.

About Stelco Holdings Inc.

Stelco is a low-cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America. Stelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products, as well as pig iron and metallurgical coke. With first-rate gauge, crown and shape control as well as uniform through-coil mechanical properties, Stelco's steel products are supplied to customers in the construction, automotive, energy, appliance, and pipe and tube industries across Canada and the United States as well as to a variety of steel service centres, which are distributors of steel products. At Stelco, the company understands the importance of its business reflecting the communities it serves; and the company is committed to diversity and inclusion as a core part of its workplace culture, in part, through active participation in the BlackNorth Initiative.

We seek Safe Harbor.