CLEVELAND-CLIFFS INC. — Director's Dealing 2023

Jan 6, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEVELAND-CLIFFS INC. (CLF)
CIK: 0000764065
Period of Report: 2023-01-04

Reporting Person: Fedor Terry G. (EVP, Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-04	Common Shares	A	81613	—	Acquired	534063	Direct
2023-01-04	Common Shares	F	54872	$17.20	Disposed	479191	Direct

Footnotes

F1: Reflects a payout of performance shares for the 2020-2022 performance period earned under the Issuer's 2015 Equity and Incentive Compensation Plan, as amended.

F2: Reflects the mandatory surrender of 33,549 shares underlying performance shares and 21,323 shares underlying restricted share units in payment of the related tax liability incurred on January 4, 2023.