Stelco — AGM Information 2021

May 10, 2021

Stelco Holdings Inc. Notice of Annual General and Special Meeting of Shareholders to be Held on June 10, 2021

All capitalized terms used herein but not otherwise defined have the meaning ascribed thereto in the accompanying management information circular dated May 4, 2021 (the “ Circular ”).

Notice is hereby given that the annual general and special meeting (the “ Meeting ”) of the holders (the “ Shareholders ”) of common shares (“ Common Shares ”) of Stelco Holdings Inc. (“ Stelco ” or the “ Company ”) will be held at the Company’s head office located at 386 Wilcox Street, Hamilton, Ontario L8L 8K5 on June 10, 2021 at 10:00 a.m. (Eastern Daylight Time) for the following purposes:

• (a) to receive the financial statements for the year ended December 31, 2020 and the auditors’ report thereon;

• (b) to elect directors of the Company (the “ Directors ”) for the ensuing year;

• (c) to re-appoint KPMG LLP as the auditors of the Company for the ensuing year and to authorize the Directors to fix their remuneration;

• (d) to consider, and if thought fit, pass, with or without variation, an ordinary resolution approving and ratifying the adoption of the Company’s advance notice provisions included in the Amended and Restated By-Law No.1 (“ Advance Notice Provisions ”) relating to advance notice nominations of Directors, as more particularly described in the attached Circular (the full text of the Advance Notice Provisions and the proposed ordinary resolution are attached to the Circular as Appendix “B” and “Appendix “C”, respectively); and

• (e) to transact such other business as may properly come before the Meeting and any adjournment or postponement thereof.

The specific details of the foregoing matters to be put before the Meeting are set forth in the Circular under “ Particulars of Matters to be Acted Upon at the Meeting ”, accompanying and forming part of this Notice of Annual General and Special Meeting (“ Notice ”).

Shareholders of record at the close of business on May 3, 2021 are entitled to receive notice of and attend the Meeting or by proxy and are entitled to one vote for each Common Share registered in the name of such Shareholder in respect of each matter to be voted upon at the Meeting. The Company recognizes that individuals will be unable to attend the Meeting in person due to current governmental orders restricting the gathering of people as a result of the COVID-19 pandemic. Accordingly, all registered Shareholders are reminded and encouraged to submit their proxy by mail, telephone or over the internet in accordance with the instructions below.

Voting by Mail or Delivery

Computershare Investor Services Inc. Attention: Proxy Department 8th Floor, 100 University Avenue, Toronto, ON M5J 2Y1

Voting by Telephone

Enter the 15-digit control number at 1-866-732-8683 (Canada and the U.S. only) or 1-312-588-4290 (outside Canada and the U.S.).

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Voting by Internet

Enter the 15-digit control number at www.investorvote.com.

A non-registered Shareholder should follow the instructions included on the voting instruction form provided by his/her/its Intermediary (as hereinafter defined).

In order to comply with current governmental orders restricting the gathering of people due to the ongoing battle against the COVID-19 pandemic, any Shareholder who wishes to join the Meeting may do so by connecting remotely via teleconference using the instructions provided directly below. To access the call, please dial one of the telephone numbers below and reference “Stelco AGM”:

LOCAL (TORONTO) OR OUTSIDE CANADA AND THE U.S.: 1-416-764-8688 NORTH AMERICAN TOLL FREE: 1-888-390-0546

A proxy will not be valid for the Meeting or any adjournment or postponement thereof unless it is completed and delivered to Computershare Investor Services Inc. no later than 10:00 a.m. (Eastern Daylight Time) on June 8, 2021 (or, if the Meeting is adjourned or postponed, 48 hours (Saturdays, Sundays and holidays excepted) prior to the time of holding the Meeting) in accordance with the delivery instructions above or delivered to the chairman (the “ Chairman ”) of the Meeting on the day of the Meeting, prior to the commencement of the Meeting or any adjournment or postponement thereof. The time limit for deposit of proxies may be waived or extended by the Chairman of the Meeting at his or her discretion, without notice. The enclosed proxy is being solicited on behalf of the board of directors of the Company.

DATED May 4, 2021

By Order of the Board of Directors

(signed) “ Alan Kestenbaum ”

Alan Kestenbaum Executive Chairman and Chief Executive Officer Stelco Holdings Inc.

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