Core Viewpoint - Algoma Steel Group Inc. is set to release its fiscal 2025 second quarter financial results on November 6, 2024, followed by a conference call on November 7, 2024, to discuss the results and recent events [1]. Company Overview - Algoma Steel, based in Sault Ste. Marie, Ontario, is a leading Canadian producer of hot and cold rolled steel products, including sheet and plate [3]. - The company aims to provide customer-driven product solutions across various sectors such as automotive, construction, energy, defense, and manufacturing [3]. - Algoma is the only producer of discrete plate products in Canada and operates one of the lowest-cost producers of hot rolled sheet steel in North America through its Direct Strip Production Complex [3]. Transformation and Sustainability - Algoma is undergoing a transformation by modernizing its plate mill and adopting electric arc technology, which focuses on recycling and environmental stewardship to reduce carbon emissions [4]. - The company is committed to investing in its workforce and processes to become a leading producer of green steel in North America [4]. Community and Industry Position - As a foundational industry in its community, Algoma leverages its steelmaking tradition to provide a secure steel supply and promote a sustainable future [5].

Core Insights - Algoma Steel Group Inc. expects total steel shipments for fiscal 2025 second quarter to be between 510,000 to 520,000 tons, with Adjusted EBITDA projected to range from $5 million to negative $5 million, including an estimated recovery of insurance proceeds of approximately $20 million [1][2] Company Overview - Algoma Steel is a leading Canadian producer of hot and cold rolled steel sheet and plate products, based in Sault Ste. Marie, Ontario, and is the only producer of discrete plate products in Canada [3][4] - The company aims to deliver customer-driven product solutions across various sectors, including automotive, construction, energy, defense, and manufacturing [3] Operational Performance - The company’s operations are performing in line with expectations despite challenging market conditions for steel demand and pricing [2] - Algoma is on track with its Electric Arc Furnace (EAF) project, with commissioning activities expected to begin by the end of the calendar year, marking a significant step towards becoming one of the most environmentally sustainable steel producers in North America [2][4] Environmental Commitment - Algoma is modernizing its plate mill and adopting electric arc technology to significantly lower carbon emissions, emphasizing its commitment to recycling and environmental stewardship [4]

Core Points - Algoma Steel Group Inc. held its virtual annual meeting of shareholders on September 24, 2024, where all nominees for the board of directors were elected [1] - The appointment of Deloitte LLP as the Company's auditors for the 2024 fiscal year was approved by a majority of votes at the meeting [2] - A non-binding advisory resolution on executive compensation was also approved by a majority of votes [3] Voting Results - Mary Anne Bueschkens received 62,437,350 votes for and 77,698 votes withheld, totaling 62,515,048 votes [2] - Sean Donnelly received 62,484,960 votes for and 30,088 votes withheld, totaling 62,515,048 votes [2] - Eric S. Rosenfeld received 59,574,000 votes for and 2,941,048 votes withheld, totaling 62,515,048 votes [2] Company Overview - Algoma is a fully integrated producer of hot and cold rolled steel products, including sheet and plate, based in Sault Ste. Marie, Ontario, Canada [5] - The company aims to deliver customer-driven product solutions across various sectors, including automotive, construction, energy, defense, and manufacturing [5] - Algoma is the only producer of discrete plate products in Canada and operates one of the lowest-cost producers of hot rolled sheet steel in North America [5] Transformation and Sustainability - Algoma is modernizing its plate mill and adopting electric arc technology to lower carbon emissions significantly [6] - The company is committed to becoming one of North America's leading producers of green steel, focusing on recycling and environmental stewardship [6] - Algoma emphasizes its role as a key supplier of steel products in North America, ensuring a secure steel supply and a sustainable future [6]

Company Overview - Algoma Steel Group Inc. is a leading Canadian producer of hot and cold rolled steel sheet and plate products, based in Sault Ste. Marie, Ontario [3] - The company is a fully integrated producer and a key supplier of steel products in North America, being the only producer of discrete plate products in Canada [3] - Algoma's Direct Strip Production Complex (DSPC) is recognized as one of the lowest-cost producers of hot rolled sheet steel in North America [3] Recent Developments - Algoma will participate in the Jefferies 2024 Industrials Conference on September 4 and 5, 2024, and will post its presentation on its investor relations website [1] - The company is undergoing a transformation journey, modernizing its plate mill and adopting electric arc technology to significantly lower carbon emissions [4] Strategic Focus - Algoma is committed to building a greener future and delivering customer-driven product solutions across various sectors, including automotive, construction, energy, defense, and manufacturing [3][4] - The company emphasizes its role in providing a secure steel supply and sustainable future for North America, drawing on its rich steelmaking tradition [4]

SAULT STE. MARIE, Ontario, Aug. 29, 2024 (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 Toronto Stock Exchange (the “TSX”) has approved the Company’s intention to renew its normal course issuer bid (“NCIB”) for a portion of its common shares (“Shares”) and a portion of its warrants (“Warrants”) to purchase shares as appropriate opportunities arise fr ...

SAULT STE. MARIE, Ontario, Aug. 28, 2024 (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, today congratulates PUC (Transmission) LP (“PUC Transmission”) and Hydro One Sault Ste. Marie LP (“Hydro One”) on each obtaining authorization pursuant to the Ontario Energy Board Act to construct a new 230kV transmission line and related transformation components in Sault Ste. Marie. The ...

Algoma Steel Group Inc (NASDAQ:ASTL) Q1 2025 Results Conference Call August 14, 2024 11:00 AM ET Company Participants Michael Moraca - Treasurer & Investor Relations Officer Michael Garcia - CEO & Director Rajat Marwah - Chief Financial Officer Conference Call Participants David Ocampo - Cormark Securities Katja Jancic - BMO Capital Markets Ian Gillies - Stifel Operator Greetings, and welcome to the Algoma Steel Group Fiscal First Quarter 2025 Earnings Conference Call. At this time, all participants are in ...

First Quarter Results In-Line with Previously Announced Outlook Completed Plate Mill Upgrade, Ramping Production Towards Expected Annual Run Rate Capacity of Over 650,000 NT Continued to Significantly De-risk Transformative Electric Arc Furnace Project as Construction Continues on Schedule Announces Intention to Relaunch Normal Course Issuer Bid SAULT STE. MARIE, Ontario, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian produ ...

SAULT STE. MARIE, Ontario, Aug. 12, 2024 (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, today announced the publication of its second annual Environmental, Social, and Governance (“ESG”) report (the “Report”). Michael Garcia, Algoma’s Chief Executive Officer said, “As detailed in our latest ESG report, we are driving change across our business to ensure that our transformati ...

SAULT STE. MARIE, Ontario, Aug. 06, 2024 (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 fiscal 2025 first quarter financial results after the market closes on Tuesday, August 13, 2024. A webcast and conference call will be held on Wednesday, August 14, 2024 at 11:00 a.m. Eastern Time to review the Company's results, discuss rec ...