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Algoma Steel incident will have no impact on blast furnace restart

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 advised that at approximately 10:00 pm on Wednesday, February 7 there was an incident at the north casthouse of the blast furnace complex where the Company believes slag made contact with moisture in the hot iron trough. Twelve workers were impacted by the incident and five were treated at Sault Area Hospital. All five were treated and released.

Michael Garcia, the Company’s Chief Executive Officer, commented, “The hazards associated with working with molten metal are well known to us and we have comprehensive training and procedures to ensure the safety of our operations. Our investigation is ongoing to fully understand what happened. Our first and primary concern is the health and safety of our employees and we are thankful for the rapid and professional response of our first responders.”

This incident had no impact on the blast furnace recovery and the return to full production remains on track.

As previously disclosed, Algoma experienced issues at the blast furnace as an unexpected consequence of an incident on Saturday, January 20 when a structure supporting utilities piping collapsed. The Company continues to advance on-site repair work as well as a comprehensive investigation into the January 20 incident.

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