Cleveland-Cliffs completes Stelco acquisition for C$60 cash + 0.454 CLF shares per share

CLEVELAND-CLIFFS INC.

Acquisition consummated November 1, 2024 via statutory plan of arrangement under Canada Business Corporation Act.
Each Stelco share exchanged for C$60.00 cash plus 0.454 share of CLF common stock.
Outstanding Stelco restricted share units and deferred share units also converted to same consideration and cancelled.
Financial statements and pro forma information to be filed by amendment within 71 days.

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