Page 1

STELCO The Steel Company of Canada Stelco Holdings Inc. Reports Record Revenue and Earnings in Q3 2021 and Raises Dividend by 50 % NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Stelco Holdings Inc. third quarter highlights include : • • • • . • Revenue of $ 1,354 million for the quarter , up 47 % from Q2 2021 • Operating income of $ 770 million for the quarter , representing a 57 % margin for the quarter Adjusted EBITDA * of $ 787 million for the quarter , representing a 58 % Adjusted EBITDA * margin , up 92 % from Q2 2021 • Adjusted Net Income * of $ 629 million and Adjusted Net Income * per share¹ of $ 7.60 Shipping Volume * of 710,000 tons for the quarter up 5 % from Q2 2021 Record cash generation resulting in $ 410 million cash balance at the end of Q3 while returning a record $ 413 million to shareholders during the quarter • Average Selling Price * per net ton of $ 1,808 , up 40 % from Q2 2021 • Declared quarterly dividend of $ 0.30 per share , up 50 % , payable on November 30 , 2021 HAMILTON , ONTARIO , November 10 , 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 and nine months ended September 30 , 2021. Stelco Holdings is the 100 % owner of Stelco Inc. ( " Stelco " ) , the operating company .