Cliffs completes Stelco acquisition; Stelco FY2023 net income plunged to C$149M from C$997M

CLEVELAND-CLIFFS INC.

Stelco FY2023 revenue C$2,917M, net income C$149M, vs FY2022 revenue C$3,463M, net income C$997M.
Stelco FY2023 gross profit C$400M, operating income C$309M, vs prior year C$1,160M and C$1,085M respectively.
Stelco FY2023 total assets C$3,065M, equity C$1,296M; dividends paid C$258M in FY2023.
Audited Stelco financials for FY2023/2022 and unaudited interim for nine months Sep 30, 2024 filed.
Unaudited pro forma combined financials filed as Exhibit 99.3 (specific pro forma figures not detailed in this document).

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