Mr. Mike Moraca reports

ALGOMA STEEL TO ANNOUNCE FISCAL 2023 FOURTH QUARTER AND FULL YEAR RESULTS JUNE 21, 2023

Algoma Steel Group Inc. will release its fiscal 2023 fourth quarter and full year financial results after the market closes on Wednesday, June 21, 2023. A webcast and conference call will be held on Thursday, June 22, 2023, at 11 a.m. Eastern Time to review the company's results, discuss recent events and conduct a question-and-answer session.

The live webcast and archived replay of the conference call can be accessed on the investors section of the company's website. For those unable to access the webcast, the conference call will be accessible domestically or internationally by dialling 877-425-9470 or 201-389-0878, respectively. Upon dialling in, please request to join the Algoma Steel fiscal fourth quarter conference call. To access the replay of the call, dial 844-512-2921 (domestic) or 412-317-6671 (international) with pass code 13738985.

About Algoma Steel Group Inc.

Based in Sault Ste. Marie, Ont., Canada, Algoma is a fully integrated producer of hot and cold rolled steel products, including sheet and plate. Driven by a purpose to build better lives and a greener future, Algoma is positioned to deliver responsive, customer-driven product solutions to applications in the automotive, construction, energy, defence and manufacturing sectors. Algoma is a key supplier of steel products to customers in North America and is the only producer of discrete plate products in Canada. Its state-of-the-art direct strip production complex (DSPC) is one of the lowest-cost producers of hot rolled sheet steel (HRC) in North America.

Algoma is on a transformation journey, modernizing its plate mill and adopting electric arc technology that builds on the strong principles of recycling and environmental stewardship to significantly lower carbon emissions. Today Algoma is investing in its people and processes, working safely, as a team to become one of North America's leading producers of green steel.

As a founding industry in their community, Algoma is drawing on the best of its rich steelmaking tradition to deliver greater value, offering North America the comfort of a secure steel supply and a sustainable future as your partner in steel.

We seek Safe Harbor.