Mr. Gregg Ruhl reports

ALGOMA CENTRAL CORPORATION INCREASES QUARTERLY DIVIDEND AND DECLARES SPECIAL DIVIDEND

Algoma Central Corp.'s board of directors has increased the company's regular quarterly dividend by 10 cents per common share, or approximately 48 per cent, to 31 cents per common share from 21 cents per common share. The board has also declared a special dividend of $1.00 per common share.

The regular quarterly dividend of 31 cents per common share will be paid on Dec. 1, 2026, to shareholders of record at the close of business on Nov. 17, 2026.

In addition, the special dividend of $1.00 per common share will be paid on Oct. 21, 2026, to shareholders of record at the close of business on Oct. 15, 2026.

"Increasing our regular quarterly dividend demonstrates our confidence in Algoma's business and our outlook for the future," said Gregg Ruhl, president and chief executive officer of Algoma Central. "We continue to strengthen Algoma through disciplined investments, positioning the company for sustainable long-term growth. The increase in our regular dividend, together with the special dividend announced today, enables us to provide a meaningful return to shareholders while continuing to invest in the future of our business."

"The increase in our regular dividend reflects our approach to capital allocation," said Christopher Lazarz, chief financial officer of Algoma Central. "Together with the special dividend, we believe it strikes an appropriate balance between returning capital to shareholders and maintaining the financial flexibility to pursue our strategic priorities."

Both the regular quarterly dividend and the special dividend are designated as eligible dividends for Canadian income tax purposes.

About Algoma Central Corp.

Algoma Central is a global provider of marine transportation, owning, and operating dry and liquid bulk carriers that serve critical industries throughout the Great Lakes-St. Lawrence region and internationally. Focused on delivering exceptional customer service, utilizing fuel efficient vessels and advancing innovative technologies, Algoma drives productivity while contributing to economic growth, strengthening communities and supporting its people. Algoma truly is Your Marine Carrier of Choice.