Tuesday 20th September 2022

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SAULT STE. MARIE, Ontario, Sept. 20, 2022 (GLOBE NEWSWIRE) — Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today the results of voting at its virtual annual meeting of shareholders held on September 20, 2022 (the “Meeting”).

All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below:

Nominee Votes For Votes Withheld Total Votes
Mary Anne Bueschkens 54,807,492 186,310 54,993,802
James Gouin 54,947,852 45,951 54,993,803
Andy Harshaw 53,999,596 994,207 54,993,803
Michael McQuade 54,712,168 281,635 54,993,803
Brian Pratt 54,947,097 46,706 54,993,803
Eric S. Rosenfeld 52,875,489 2,118,314 54,993,803
Gale Rubenstein 54,805,557 188,245 54,993,802
Andrew Schultz 54,682,446 311,357 54,993,803
David D. Sgro 54,768,866 224,937 54,993,803
Michael Garcia 54,950,282 43,520 54,993,802
Ave G. Lethbridge 54,949,804 43,999 54,993,803
Sanjay Nakra 54,947,721 46,081 54,993,802

The Company also reports that the appointment of Deloitte LLP as the Company’s auditors for the 2022 fiscal year was passed by a majority of the votes represented at the Meeting.

The Company’s full report of voting results on matters presented at the Meeting can be found under the Company’s profile on SEDAR at www.sedar.com and on the Securities and Exchange Commission’s EDGAR website at www.sec.gov.

About Algoma Steel Group Inc.

Based in Sault Ste. Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate. With a current raw steel production capacity of an estimated 2.8 million tons per year, Algoma’s size and diverse capabilities enable it to deliver responsive, customer-driven product solutions straight from the ladle to direct applications in the automotive, construction, energy, defense, and manufacturing sectors. Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada. The Company’s mill is one of the lowest cost producers of hot rolled sheet steel (HRC) in North America owing in part to its state-of-the-art Direct Strip Production Complex (“DSPC”), which is the newest thin slab caster in North America with direct coupling to a basic oxygen furnace (BOF) melt shop.

Algoma has achieved several meaningful improvements over the last several years that are expected to result in enhanced long-term profitability for the business. Algoma has upgraded its DSPC facility and recently installed its No. 2 Ladle Metallurgy Furnace. Additionally, the Company has cost cutting initiatives underway and is in the process of modernizing its plate mill facilities.

Today Algoma is on a transformation journey, investing in its people and processes, optimizing and modernizing to secure a sustainable future.  Our customer focus, growing capability and courage to meet the industry’s challenges head-on position us firmly as your partner in steel.

For more information, please contact:

Michael Moraca
Treasurer & Investor Relations Officer
Algoma Steel Group Inc.

Phone: 705.945.3300
E-mail: IR@algoma.com