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CLEVELAND-CLIFFS INC. Director's Dealing 2026

Jan 7, 2026

30881_dirs_2026-01-07_9c4a990e-7f4f-4d68-8de0-c85dc9df1641.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEVELAND-CLIFFS INC. (CLF)
CIK: 0000764065
Period of Report: 2026-01-05

Reporting Person: Smith Clifford T (EVP & Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-01-05	Common Shares	F	19140	$13.20	Disposed	760529	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	100106	Indirect

Footnotes

F1: Reflects the mandatory surrender of shares underlying restricted share units in payment of the related tax liability incurred on January 5, 2026 in connection with payout of the restricted share units.

F2: Reflects the exempt change in form of beneficial ownership for 99,894 shares received by the Reporting Person from the grantor retained annuity trust in direct holdings, with 100,106 shares remaining in the grantor retained annuity trust, since the date of the Reporting Person's last filed Form 4.