Cleveland Cliffs Inc. - Tender Offer 2024 (US) - Launch

Cleveland-Cliffs Announces Tender Offer for Any and All of its 6.750% Senior Secured Notes due 2026 - US185899AG62 - USU1852LAF41

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04 MARCH 2024

Full announcement including disclaimers and offer/distribution restrictions available via Businesswire

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) announced today the commencement of a tender offer to purchase (the “Tender Offer”), subject to certain terms and conditions, any and all of its outstanding 6.750% Senior Secured Notes due 2026 (the “Notes”), at the price set forth below.

The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on March 13, 2024 (the “Expiration Time”), unless extended or earlier terminated by the Company. The Tender Offer is being made pursuant to an Offer to Purchase and related Notice of Guaranteed Delivery, each dated March 4, 2024 (together, the “Tender Offer Materials”), which set forth a more detailed description of the terms and conditions of the Tender Offer. Holders of the Notes are urged to carefully read the Tender Offer Materials before making any decision with respect to the Tender Offer.

The following table sets forth certain terms of the Tender Offer:

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