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The Steel Company of Canada Stelco Holdings Inc. Reports Improved Fourth Quarter and Annual 2020 Results NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Stelco Holdings Inc. fourth quarter highlights include : Revenue of $ 424 million for the quarter Shipments of 489,000 tons for the quarter ● • Operating income of $ 39 million for the quarter , up from a loss in Q4 2019 • Adjusted EBITDA * of $ 60 million for the quarter , up 500 % from Q4 2019 Declared quarterly dividend of $ 0.10 per share payable on March 4 , 2021 Transformational year for the Company with extended pellet agreement , acquisition of Minntac Option , completion of blast furnace upgrade project , groundbreaking for new cogeneration facility and installation of new pig iron caster STELCO HAMILTON , ONTARIO , February 17 , 2021 - Stelco Holdings Inc. ( " Stelco Holdings " or the " Company " ) , ( TSX : STLC ) , a low cost , integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America , today announced financial results of the Company for the three months and year ended December 31 , 2020. Stelco Holdings is the 100 % owner of Stelco Inc. ( " Stelco " ) , the operating company . Selected Financial Information : ( in millions Canadian dollars , except volume , per share and nt figures ) Revenue ( $ ) Operating income ( loss ) ( $ ) Net income ( loss ) ( $ ) Adjusted net income ( loss ) ( $ ) * Net income ( loss ) per common share ( diluted ) ( $ ) Adjusted net income ( loss ) per common share ( diluted ) ( $ ) * Q4 2020 Q4 2019 424 435 39 ( 47 ) 45 ( 0.53 ) 0.51 728 489 ( 6 ) ( 24 ) ( 13 ) 60 Change ( 3 ) % NM 1 ( 96 ) % NM ( 0.27 ) ( 96 ) % ( 0.15 ) 659 633 ( 1.79 ) ( 0.59 ) Average selling price per nt ( $ ) * 10 % 7 % 705 Shipping volume ( in thousands of nt ) * ( 23 ) % 46 % 2,020 Adjusted EBITDA ( loss ) ( $ ) * 10 500 % ( 39 ) NM 123 16 669 % ( 117 ) NM Adjusted EBITDA ( loss ) per nt ( $ ) * See " Non - IFRS measures " for a description of certain Non - IFRS measures used in this Press Release and " Non - IFRS Measures Reconciliation " below . NM = Not Meaningful Q3 2020 237 ( 69 ) ( 88 ) ( 81 ) NM ( 0.99 ) ( 0.91 ) 683 334 Change 79 % 2020 1,517 NM ( 7 ) 47 % ( 159 ) NM ( 52 ) 46 % NM 2019 Change ( 18 ) % ( 114 ) % ( 895 ) % ( 224 ) % 75 37 1,841 50 20 42 0.23 0.47 ( 878 ) % ( 226 ) % ( 3 ) % ( 17 ) % ( 47 ) % ( 36 ) % 729 2,444 141 58