Algoma Steel Group Inc. Announces Filing of Base Shelf Prospectus

Core Viewpoint - Algoma Steel Group Inc. has filed a base shelf prospectus and a registration statement to maintain financial flexibility, allowing potential future offerings of various securities over a 25-month period, although there is no immediate intention to raise capital [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 [5]. - The company is a fully integrated producer and key supplier of steel products in North America, being the only producer of discrete plate products in Canada [5]. - Algoma's Direct Strip Production Complex (DSPC) is noted as one of the lowest-cost producers of hot rolled sheet steel in North America [5]. Strategic Initiatives - Algoma is undergoing a transformation journey, modernizing its plate mill and adopting electric arc technology to significantly lower carbon emissions [6]. - The company is focused on building a greener future and investing in its people and processes to become a leading producer of green steel in North America [6]. Market Position - As a founding industry in its community, Algoma aims to deliver greater value and ensure a secure steel supply for North America [7].