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Cleveland-Cliffs Inc. (NYSE: CLF) today reported third-quarter results for the period ended September 30, 2024.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced that it has successfully completed its acquisition of Stelco Holdings Inc. (“Stelco”). The addition of Stelco enhances Cliffs’ position as the largest flat-rolled steel producer in North America, diversifies Cliffs’ end-markets and expands its geographical presence in Canada. Stelco will continue operations as a wholly-owned subsidiary of Cliffs, preserving the name and iconic Canadian legacy of the business.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced that it has received regulatory and program approvals under the Investment Canada Act and Strategic Innovation Fund, the final approvals needed to complete Cliffs’ pending acquisition of Stelco Holdings Inc. (“Stelco”). With these approvals in hand, the acquisition can move to closing. The transaction is currently scheduled to close on November 1, 2024.

Cleveland-Cliffs Inc. (NYSE: CLF) will announce its third-quarter 2024 earnings results after the U.S. market close on Monday, November 4, 2024.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced that it has received a "no-action letter" from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge Cliffs’ pending acquisition of Stelco Holdings Inc. (“Stelco”). Cliffs remains on track to close the transaction this quarter.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it has upsized and priced $900 million aggregate principal amount of Senior Guaranteed Notes due 2029 (the “2029 Notes”) and $900 million aggregate principal amount of Senior Guaranteed Notes due 2033 (the “2033 Notes” and, together with the 2029 Notes, the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The 2029 Notes will bear interest at an annual rate of 6.875% and will be issued at par. The 2033 Notes will bear interest at an annual rate of 7.375% and will be issued at par. The Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it intends to offer to sell, subject to market and other conditions, $800 million aggregate principal amount of Senior Guaranteed Notes due 2029 (the “2029 Notes”) and $800 million aggregate principal amount of Senior Guaranteed Notes due 2033 (the “2033 Notes” and, together with the 2029 Notes, the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), in connection with its pending acquisition of Stelco Holdings Inc. (“Stelco”). The expiration of the HSR Act waiting period clears an important regulatory hurdle and marks a significant step toward the closing of this acquisition, which is expected to occur in the fourth quarter of 2024 following the satisfaction or waiver of other customary closing conditions and approvals.

Cleveland-Cliffs Inc. (NYSE: CLF) announced that it will be hosting United States Trade Representative (USTR) Katherine Tai, Acting Secretary of Labor Julie Su, Congresswoman Chrissy Houlahan, together with the Director of District 10 of the United Steelworkers (USW) Bernie Hall, at its Coatesville, PA mill on Friday, October 11. This visit follows USTR’s recent final determination relating to increased Section 301 tariffs on imports of steel, electric vehicles and various manufacturing components from China. USTR is also currently conducting a Section 301 investigation on the unfair trade practices of the Chinese shipbuilding sector in response to a petition filed by the USW and allied organized labor groups. Cleveland-Cliffs Coatesville specializes in the production of steel plate for military and commercial shipbuilding industries.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) is pleased to announce that the holders of common shares (the “Shareholders”) of Stelco Holdings Inc. (TSX: STLC) (“Stelco”) voted in favor of, and overwhelmingly approved, the special resolution (the “Arrangement Resolution”) regarding the previously announced indirect acquisition of Stelco by Cliffs at a special meeting of the Shareholders held earlier today (the “Stelco Meeting”). The Arrangement Resolution received support of 99.97% of the total votes cast for the Arrangement Resolution. The transaction is expected to close in the fourth quarter of 2024. Upon closing of the transaction, which remains subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement, Stelco is expected to continue as a wholly-owned subsidiary of Cliffs.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) remains fully committed toward the transformational project underway at its Middletown Works integrated facility in Middletown, Ohio. As previously disclosed, Cliffs was selected for award negotiations for up to $500 million in total funding from the Department of Energy toward the replacement of its Middletown blast furnace with a Direct Reduced Iron (DRI) Plant and two Electric Melting Furnaces (EMF). The Company continues to be in active negotiations with the Department of Energy related to the award-specifc terms and conditions. Cliffs remains optimistic about receiving final approvals and proceeding with this carbon-friendly and high-return project.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced that it successfully amended its $4.75 billion Asset-Based Lending (ABL) facility as part of the financing for the pending acquisition of Stelco Holdings Inc. (“Stelco”). Cliffs has completely replaced Goldman Sachs’ participation with increased commitments from Bank of America, Wells Fargo, J.P. Morgan, Fifth Third, Truist, Capital One, BMO, Huntington, and U.S. Bank. Additionally, PNC, Flagstar, UBS, MUFG, Regions, Barclays, ING, RBC, and First Citizens have also maintained their existing commitments to the ABL.

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Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) applauded the reported decision by President Biden to officially block the foreign takeover of U.S. Steel by Japan’s Nippon Steel. The Company provided the following statement from its Chairman, President and CEO, Lourenco Goncalves:

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that Michael Hrosik has been named Senior Vice President, Commercial of the organization. The promotion is effective immediately. Mr. Hrosik has over 30 years of steel industry experience in commercial functions, most recently as Vice President, Flat-Rolled Steel Sales for Cliffs. In his new role, Mr. Hrosik will oversee all responsibility for Cliffs’ commercial operations, including sales, marketing, and customer service. His extensive experience, primarily with Cliffs and its legacy companies ArcelorMittal USA, ISG, and LTV, will play a critical role in driving Cliffs’ strategy forward.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that its employees represented by the United Auto Workers (UAW) Local 600 have ratified a four-year labor contract for its Dearborn Works operations. The new contract is effective through July 31, 2028, and will cover approximately 1,000 UAW-represented workers at Dearborn.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it has upsized and priced an additional $600 million aggregate principal amount of Senior Guaranteed Notes due 2032 (the “Additional Notes”) in an offering (the “Additional Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will bear interest at an annual rate of 7.000% and will be issued at a price of 99.25% of their principal amount. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it intends to offer to sell, subject to market and other conditions, an additional $500 million aggregate principal amount of Senior Guaranteed Notes due 2032 (the “Additional Notes”) in an offering (the “Additional Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will be an issuance of Cliffs’ existing 7.000% Senior Guaranteed Notes due 2032 and will be issued as additional notes under the indenture dated as of March 18, 2024 (as supplemented, the “Indenture”) pursuant to which Cliffs previously issued $825 million aggregate principal amount of 7.000% Senior Guaranteed Notes due 2032 (the “Initial Notes”). The Additional Notes will be of the same class and series as, and otherwise identical to, the Initial Notes other than with respect to the date of issuance and issue price. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs’ material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries.

Cleveland-Cliffs Inc. (NYSE: CLF) today reported second-quarter results for the period ended June 30, 2024.

Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it will establish a new electrical distribution transformer production plant in Weirton, West Virginia. This downstream direct investment by Cleveland-Cliffs in Weirton will address the critical shortage of distribution transformers that is stifling economic growth across the United States. Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer will host a press conference with West Virginia Governor Jim Justice and other elected officials in Weirton today, July 22. The announcement will highlight Cleveland-Cliffs’ investment to repurpose its Half Moon Warehouse in Weirton to commence production of three-phase distribution transformers used in electric power distribution systems. The total capital investment is $150 million, of which $50 million (or one third) will be granted by the state of West Virginia to Cliffs through a forgivable loan. Cliffs expects the new plant to come online in the first half of 2026. The efficiency standards for distribution transformers recently promulgated by the U.S. Department of Energy support the long-term utilization of highly-efficient American-made Grain Oriented Electrical Steel (GOES), ensuring the viability of this investment in Weirton.

Cleveland-Cliffs Inc. (NYSE:CLF) (“Cliffs” or “the Company”) is pleased to announce that it has entered into a definitive agreement to acquire Stelco Holdings Inc. (TSX:STLC) (“Stelco”). The acquisition confirms Cliffs’ commitment and leadership in integrated steel production in North America, and also brings an additional 1,800 United Steelworkers (“USW”) union employees into Cliffs’ workforce. Under the terms of the agreement, Stelco shareholders will receive CAD $60.00 per Stelco common share in cash and 0.454 shares of Cliffs common stock per share of Stelco common stock (or CAD $10.00 per share as of July 12, 2024), representing a total consideration of CAD $70.00 per Stelco share. The transaction has received full support from David McCall, International President of the USW union.

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Cleveland-Cliffs Inc. (NYSE: CLF) will announce its second-quarter 2024 earnings results after the U.S. market close on Monday, July 22, 2024.