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 and management information circular were mailed to shareholders in advance.

• Quorum confirmed and rules for virtual participation and voting explained.

• Attendees instructed on how to submit questions and vote electronically.

Specific resolutions to be voted on

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

• 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 was moved and seconded.

Corporate governance

• Scrutineer appointed to oversee voting and quorum confirmed.

• Procedures for proxy voting and revocation explained to shareholders.