Stelco — Regulatory Filings 2021

Feb 11, 2021

UNDERTAKING

• To: All Provincial and Territorial Securities Regulatory Authorities in Canada (the “ Securities Regulators ”)

• Re: Stelco Holdings Inc. (the “ Issuer ”) – Short Form Base Shelf Prospectus of the Issuer dated February 11, 2021 (the “Prospectus” )

In connection with the filing of the Prospectus, the undersigned hereby undertakes, for and on behalf of the Issuer and not in his personal capacity, to file any material contracts and documents affecting the rights of securityholders, including any documents relating to the Warrants, Subscription Receipts, Units and Debt Securities, in accordance with Sections 4.2(a)(x) and 4.2(x.1) of National Instrument 44-101 – Short Form Prospectus Distributions (“ NI 44-101 ”) with the Securities Regulators promptly, and, in any event, within seven (7) days after (i) the execution of such document, in the case of a document being filed pursuant to subsection 4.2(a)(x) of NI 44-101, and (ii) the document becomes effective, in the case of a document being filed pursuant to subsection 4.2(a)(x.1) of NI 44-101.

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MT DOCS 21082402

DATED the 11[th] day of February, 2021.

STELCO HOLDINGS INC.

By: (signed) “Paul A. Simon” Name: Paul A. Simon Title: General Counsel and Corporate Secretary

MT DOCS 21082402