Cleveland-Cliffs — Jul 23, 2026 release

Additionally, the Company maintains the following previously guided expectations for the full-year 2026, including: • Steel shipment volumes maintained at approximately 16.5-17.0 million net tons • Capital expenditures maintained at approximately $700 million • Selling, general and administrative expenses maintained at approximately $575 million • Depreciation, depletion and amortization maintained at approximately $1.1 billion • Cash Pension and OPEB payments and contributions maintained at approximately $125 million Cleveland-Cliffs Inc. will host a conference call this morning, July 23, 2026, at 8:30 a.m. ET. The call will be broadcast live and archived on Cliffs' website: www.clevelandcliffs.com. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000 peo ple across its operations in the United States and Canada. 3 Forward-Looking Statements This release contains statements that constitute "forward-looking statements" within the meaning of the federal securities laws. As a general matter, forward-looking statements relate to anticipated trends and expectations rather than historical matters. Forward-looking statements are subject to uncertainties and factors relating to our ope