Stelco (STLC) EGM 2024 summary

Opening remarks and agenda

• Meeting called to order by the Executive Chairman and CEO, with senior management present virtually.

• Notice of meeting mailed to shareholders on August 23, 2024, with the management information circular dated August 20, 2024.

• Confirmation of quorum and explanation of virtual meeting procedures, including Q&A and voting protocols.

• Attendees instructed on voting rights and procedures for proxy holders and beneficial owners.

• Online votes during the meeting override previously submitted proxies.

Specific resolutions to be voted on

• Resolution to approve a plan of arrangement for acquisition by 13421422 Canada Inc., a subsidiary of Cleveland-Cliffs Inc.

• Details and text of the resolution provided in the management information circular dated August 16, 2024.

• Approval requires two-thirds affirmative vote and a simple majority excluding certain shareholders per securities law.

• Motion to approve the resolution formally moved and seconded.

Q&A with stakeholders

• Shareholders and proxy holders can submit questions via instant messaging during the meeting.

• Questions must include the name, represented entity, and shareholder or proxy status.

• Procedural questions will be addressed as able during the meeting.