SAULT STE. MARIE, Ontario, June  04, 2026  (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:ASTL, TSX:ASTL) (&#34;Algoma&#34; or &#34;the Company&#34;), a leading Canadian producer of steel plate and hot rolled sheet products, today

ASTL

Algoma Steel Releases 2025 Sustainability Report

Algoma's 2025 Sustainability Report signals accelerated EAF transition

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>SAULT STE. MARIE, Ontario, June  04, 2026  (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:ASTL, TSX:ASTL) (&amp;#34;Algoma&amp;#34; or &amp;#34;the Company&amp;#34;), a leading Canadian producer of steel plate and hot rolled sheet products, today</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Algoma Steel released its 2025 Sustainability Report, confirming the first Electric Arc Furnace (EAF) startup in 2025, wind-down of the blast furnace and cokemaking, and a plan to cut carbon emissions intensity by about 70% once fully transitioned. The rollout under the Volta brand supports a lower-emission product suite and potential margin benefits, though execution risk and capex demands remain key considerations for investors.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Algoma&#039;s 2025 Sustainability Report highlights EAF debut and blast furnace wind-down.</li><li>First EAF started July 2025; second unit planned for 2026.</li><li>January 2026 saw decommissioning of Blast Furnace No.7 and cokemaking.</li><li>SASB/TCFD alignment and Volta branding accompany a ~70% emissions reduction target.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Algoma Steel Group Inc. (ASTL)</strong>: Released 2025 Sustainability Report; transition to EAF and decarbonization programs could influence margins and sustainability profile.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The article describes a strategic operational shift to EAF, branding, and sustainability reporting—factors that can affect long-term cost structure, emissions profile, and investor perception of Algoma&#039;s growth trajectory.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>EAF unit 1 commissioned in 2025 with second unit planned for 2026.</li><li>Targeted 70% reduction in carbon emissions intensity upon full transition.</li><li>Decommissioning of Blast Furnace No.7 and cokemaking completed as of January 2026.</li><li>SASB/TCFD-aligned reporting and Volta branding visible signals of strategic shift.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>2025 Sustainability Report covers the 12 months ended December 31, 2025.</li><li>First EAF unit commissioned in July 2025.</li><li>Second EAF unit construction on track for 2026.</li><li>January 2026: Blast Furnace No.7 decommissioned and cokemaking assets discontinued.</li><li>Transition targets ~70% reduction in carbon emissions intensity.</li><li>Volta is the brand for all steel produced via Algoma&#039;s EAF technology.</li><li>Algoma Steel Group Inc. trades as ASTL on NASDAQ and TSX.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over the next 6–12 months as EAF ramp and emissions targets improve margins.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>SAULT STE. MARIE, Ontario, June  04, 2026  (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ASTL">ASTL</a>, TSX:<a class="ticker" href="https://www.benzinga.com/quote/ASTL">ASTL</a>) ("Algoma" or "the Company"), a leading Canadian producer of steel plate and hot rolled sheet products, today announced the release of its 2025 Sustainability Report (the "Report"), covering the 12 months ended December 31, 2025. Algoma reports its sustainability performance on a calendar-year basis, aligned with its financial reporting practices.</p>  <p>Rajat Marwah, Algoma&#39;s Chief Executive Officer, commented, &#34;This Report reflects a pivotal year in Algoma&#39;s nearly 125-year history. With the successful start-up of our first Electric Arc Furnace (EAF) and the subsequent wind-down of our blast furnace and coke oven operations, we have entered a new era as an EAF steel producer. Throughout this transformation, our focus has remained on operating responsibly, protecting the safety and well-being of our employees, and maintaining strong relationships with our customers, communities, and partners. Sustainability remains central to how we operate and how we create long-term value.&#34;</p>  <p>The 2025 Report highlights Algoma&#39;s progress across key sustainability areas during a year defined by transformation and a challenging trade environment. Milestones include the successful commissioning of the first EAF unit in July 2025, marking the beginning of Volta&#x2122; steel production, with construction of the second EAF unit on track for 2026. In January 2026, Algoma ceased operating and began decommissioning its Blast Furnace No. 7 and cokemaking assets, completing its shift to EAF steelmaking — Canada&#39;s largest industrial decarbonization project. Once fully operational, the transition is targeted to reduce Algoma&#39;s carbon emissions intensity by approximately 70%, positioning the Company as a leading producer of lower-carbon steel for North American and global markets.</p>  <p>Prepared in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), the Report underscores Algoma&#39;s ongoing commitment to transparency, accountability, and long-term value creation.</p>  <p>The full report is available at <a href="https://www.globenewswire.com/Tracker?data=sHTs52ZX3HZzPRh91T-e3Sxle3Db_MDX8Ke1kVhBxp-chv_e4PqKoPs61zap-mZWpCTXIyqt46ZEMCcL0rh5Hw==" rel="nofollow" target="_blank">www.algoma.com</a>.</p>  <p><strong>Cautionary Statement Regarding Forward-Looking Statements</strong></p>  <p>This news release contains "forward-looking information" under applicable Canadian securities legislation and "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"), including statements regarding the expected commissioning and ramp-up of EAF Unit 2, the expected scaling of the Company's plate-first commercial strategy, Algoma's transition to EAF steelmaking and the expected benefits thereof, the Company's expected annual raw steel production capacity and reduction in carbon emissions, Algoma's future as a leading producer of green steel and the Company's ability to focus financial resources on strategic opportunities supporting long-term growth and value creation. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including those set forth in "Risk Factors" and "Cautionary Note Regarding Forward-Looking Information" in Algoma's Annual Information Form, filed under the Company's SEDAR+ profile at <a href="http://www.sedarplus.ca" title="www.sedarplus.ca">www.sedarplus.ca</a> and with the SEC as part of Algoma's Annual Report on Form 40-F at <a href="http://www.sec.gov" title="www.sec.gov">www.sec.gov</a>. Forward-looking statements speak only as of the date they are made. Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.</p>  <p><strong>About Algoma Steel </strong></p>  <p>Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defense, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada.</p>  <p>With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada. Powered by Ontario's clean electricity grid, this transformation represents one of the largest industrial decarbonization initiatives in North America and is expected to reduce carbon emissions by approximately 70% once fully transitioned. These advancements provide stability for continued investment in diversification projects aligned with Canada's evolving needs.</p>  <p>This new chapter also introduces Volta&#x2122;, the brand for all steel produced through Algoma's EAF technology. Volta delivers the same trusted performance customers rely on, with significantly lower emissions—produced safely, sustainably, and proudly in Canada.</p>  <p>Building on more than a century of steelmaking expertise, Algoma continues to invest in its people, processes, and technologies to strengthen domestic supply chains and deliver responsible, Canadian-made steel that helps build a better tomorrow.</p>  <p align="justify">For more information, please contact:</p>  <p><strong>Michael Moraca</strong><br></br>Chief Financial Officer <br></br>Algoma Steel Group Inc.<br></br>Phone: 705.945.3300<br></br>E-mail: <a href="https://www.globenewswire.com/Tracker?data=BxUxb3XZeQx4rXDcmdnI2ovIzVrPe40ESaMndarNLYEpGCjA0-zQn_kH9_TFTOEd8W5Bymz2wL8K44gXkyjI2Q==" rel="nofollow" target="_blank">IR@algoma.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTczMjE5OSM3NjM3MjMwIzIyMjIwNjQ="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/NzY2YmZjZWMtNDA3Ni00NmU4LWJhMDItMDUwYmM2ZmVhNzgzLTEyMzM2MTctMjAyNi0wNi0wNC1lbg==/tiny/Algoma-Steel-Inc.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/238d9cba-286c-4536-817b-07cce07aef66"><img src="https://ml.globenewswire.com/media/238d9cba-286c-4536-817b-07cce07aef66/small/algoma-steel-logo-full-colour-rgb-900px-w-72ppi-png.png" border="0" width="150" height="39" alt="Primary Logo"></img></a></p>

Algoma Steel released its 2025 Sustainability Report, confirming the first Electric Arc Furnace (EAF) startup in 2025, wind-down of the blast furnace and cokemaking, and a plan to cut carbon emissions intensity by about 70% once fully transitioned. The rollout under the Volta brand supports a lower-emission product suite and potential margin benefits, though execution risk and capex demands remain key considerations for investors.

Algoma Steel Releases 2025 Sustainability Report

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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