Several bids received

3

Essar Steel Algoma Inc. reports it has received several bids as of close of the first phase in the Sale and Investment Solicitation Process (SISP) on Friday, April 1st, 2016.

The Company has now advanced into Phase Two of the process; closing deadline to be determined.

Essar Steel Algoma Inc. filed for creditor protection under the Companies Creditors
Arrangement Act on November 9th, 2015.

The Sale and Investment Solicitation Process was launched on February 11th, 2016. Relevant documents, including the SISP Order and the SISP Process Outline can be found on the Monitor’s website at www.ey.com/ca/essaralgoma and on the Prime Clerk website at
http://cases.primeclerk.com/EssarSteel.

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