Mr. Paul Scherzer reports

STELCO ANNOUNCES VOTING RESULTS OF ANNUAL MEETING

Stelco Holdings Inc. has released the voting results from its annual general meeting of shareholders held today.

The seven candidates nominated for election to the company's board of directors, as listed in the company's management information circular, dated May 10, 2023, were elected by a majority of the votes cast by shareholders present or represented by proxy at the meeting. Each director elected will continue to hold office until the next annual meeting of shareholders or until the director resigns or a successor is elected or appointed. The voting results are set out herein.

                  VOTING RESULTS FOR ELECTION OF DIRECTORS

Nominee                Votes for   % votes for   Votes against   % votes against

Monty Baker           22,410,268         68.77%     10,176,505             31.23%     
Michael Dees          21,365,424         65.56%     11,221,349             34.44%     
Alan Kestenbaum       30,221,948         92.74%      2,364,825              7.26%     
Michael Mueller       29,952,561         91.92%      2,634,212              8.08%     
Heather Ross          22,899,032         70.27%      9,687,741             29.73%     
Indira Samarasekera   25,352,416         77.80%      7,234,357             22.20%     
Daryl Wilson          30,791,851         94.49%      1,794,922              5.51%     

A majority of shareholders of the company also voted in favour of a resolution to reappoint KPMG LLP as the auditor of the company to hold office until the next annual meeting of shareholders.

A final report on voting results has been filed with the Canadian securities regulatory authorities and is available under the company's SEDAR profile.

About Stelco Holdings Inc.

Stelco is a low-cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America. Stelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled sheet products, as well as pig iron and metallurgical coke. With first-rate gauge, crown and shape control, as well as uniform through-coil mechanical properties, its steel products are supplied to customers in the construction, automotive, energy, appliance, and pipe and tube industries across Canada and the United States, as well as to a variety of steel service centres, which are distributors of steel products. At Stelco, it understands the importance of its business, reflecting the communities it serves, and is committed to diversity and inclusion as a core part of its workplace culture, in part, through active participation in the BlackNorth Initiative.