Algoma Steel Announces Conference Call and Provides Guidance for the Second Quarter 2025

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SAULT STE. MARIE, Ontario, July 15, 2025 (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 that the Company will release its 2025 second quarter financial results after the market closes on Tuesday, July 29, 2025. A webcast and conference call will be held on Wednesday, July 30, 2025 at 11:00 a.m. Eastern Time to review the Company’s results, discuss recent events, and conduct a question-and-answer session. The Company also provided guidance for its quarter ended June 30, 2025. Unless otherwise specified, all amounts are in Canadian Dollars.

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Total steel shipments for the quarter are expected to be approximately 472,000 tons and Adjusted EBITDA is expected to be in the range of ($30) million to ($35) million.

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Michael Garcia, Chief Executive Officer of Algoma, commented, “Our results for the quarter were in line with our expectations, with particular strength once again in our plate business. Macroeconomic uncertainties and tariff policy continue to impact our sector, but with first arc and first steel production from unit one of our electric arc furnace project achieved in the last few days, we are forging ahead with our transformation into what is expected to be one of North America’s greenest producers of steel.”

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The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company’s website at www.ir.algoma.com. For those unable to access the webcast, the conference call will be accessible domestically or internationally by dialing 877-425-9470 or 201-389-0878, respectively. Upon dialing in, please request to join the Algoma Steel Second Quarter Conference Call. To access the replay of the call, dial 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13754580.

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Cautionary Statement Regarding Forward-Looking Statements

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This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding expected steel shipments and Adjusted EBITDA, macroeconomic uncertainties and tariff policy impacting Algoma’s sector, Algoma’s transition to electric arc furnace (EAF) steelmaking, Algoma’s future as a leading producer of green steel, Algoma’s modernization of its plate mill facilities, transformation journey, ability to deliver greater and long-term value, ability to offer North America a secure steel supply and a sustainable future, and investment in its people, and processes. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “design,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. Readers should also consider the other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Information” in the Base Shelf Prospectus, the Registration Statement, Algoma’s Annual Information Form, filed by Algoma with applicable Canadian securities regulatory authorities (available under the company’s SEDAR+ profile at www.sedarplus.ca) and with the SEC, as part of Algoma’s Annual Report on Form 40-F (available at www.sec.gov), as well as in Algoma’s current reports with the Canadian securities regulatory authorities and the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.