Press Release

SAULT STE. MARIE, ONTARIO (January 10, 2022) – Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that based on the current estimates of Algoma’s Earnout Adjusted EBITDA (as defined in the Merger Agreement with Legato Merger Corporation) for calendar year-end 2021, it is currently expected that all 37.5 million Algoma common shares will be issued pursuant to the Earnout Rights as prescribed in the Merger Agreement.

Algoma Steel is pleased to sponsor 10 holiday skate events this year. Delivered in partnership with the City of Sault Ste. Marie at the John Rhodes and McMeeken arenas, these skates offer a healthy way to get out and enjoy the season, regardless of the weather.

SAULT STE. MARIE, ONTARIO, December 1, 2021 – Algoma Steel Inc. (‘Algoma”) is celebrating its employees and their generous participation in the Christmas Cheer Toy Drive once again this year, with a donation of $3000 to complement their contribution of over 175 gifts for local children. This marks 41 years that Algoma employees have supported this important community giving campaign.

SAULT STE. MARIE, ONTARIO (December 2, 2021) – 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, today announced that it has selected Danieli & C. Officine Meccaniche S.p.A (“Danieli”) as the sole technology provider for their new electric arc (EAF) steelmaking facility.

The Canada Infrastructure Bank (CIB) and Algoma Steel Inc., a subsidiary of Algoma Steel Group Inc. (Nasdaq: ASTL; TSX: ASTL) (Algoma) have entered into a definitive agreement with respect to the CIB’s previously announced commitment to finance the transformational upgrade of Algoma’s steelmaking processes at its facility in Sault Ste. Marie, Ontario. Under the terms

Algoma Steel invites members of the public to their annual Environmental Open House on Monday, November 29, 2021.

SAULT STE. MARIE, ONTARIO (November 11, 2021) – 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, today announced results for its fiscal second quarter ended September 30, 2021.

SAULT STE. MARIE, ONTARIO (November 11, 2021) – 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, today announced that its Board of Directors has authorized the Company to construct two new state- of-the-art electric-arc-furnaces (EAF) to replace its existing blast furnace and basic oxygen steelmaking operations.

SAULT STE. MARIE, Ontario, Nov. 1, 2021 - Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2022 second quarter financial results after the market closes on Thursday, November 11, 2021.

SAULT STE. MARIE, CANADA, October 27, 2021 – Algoma Steel Group Inc. (“Algoma”) (NASDAQ: ASTL; TSX: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that it has entered into a joint venture with Triple M Metal LP (“Triple M”), one of North America’s largest privately-owned ferrous and non-ferrous metal recycling companies, establishing a jointly owned company known as ATM Metals Inc.