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per Common Share (the “Offering Price“) for total gross proceeds of $200,005,000.

The Offering is being made through a syndicate of underwriters (the “Underwriters“) led by Goldman Sachs Canada Inc. and BMO Capital Markets and includes Credit Suisse Securities (Canada), Inc., J.P. Morgan, Scotiabank, TD Securities Inc., National Bank Financial Inc., and Oppenheimer & Co. Inc. Stelco has entered into an underwriting agreement in connection with the Offering, pursuant to which, among other things, Stelco has granted to the Underwriters an over-allotment option (the “Over-Allotment Option“), exercisable in whole or in part at any time for a period of 30 days following the closing of the Offering, to purchase up to an additional 1,764,750 Common Shares at the Offering Price for additional gross proceeds of up to $30,000,750 if the Over-Allotment Option is exercised in full.

Stelco has received conditional listing approval of the Toronto Stock Exchange (the “TSX“) for the listing of the Common Shares being issued and sold pursuant to the Offering. Listing remains subject to Stelco fulfilling customary TSX requirements. The Common Shares are expected to commence trading on the TSX on an “if, as and when issued basis” on November 3, 2017 under the symbol “STLC”. The closing of the Offering is expected to occur on or about November 10, 2017 (the “Closing Date“) and is subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

A final base PREP prospectus has been filed with, and a receipt has been issued by, the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada containing important information relating to…