September 9, 2022- Cleveland-Cliffs Inc. reached a tentative agreement with the United Steelworkers (USW) on a new 47-month labor contract for its legacy Mining and Pelletizing operations. The contract will be effective Oct. 1, 2022, and will cover approximately 2,000 USW-represented employees at its Mining and Pelletizing locations in Northern Minnesota and in the Michigan Upper Peninsula.

With the successful conclusion of the second and final portion of this negotiation with the USW, the Company has now reached two tentative multi-year labor agreements covering approximately 14,000 USW-represented employees, more than half of its total workforce.

Lourenco Goncalves, Chairman, President and CEO said: “Reaching a second labor agreement in less than two weeks reaffirms our great alliance with the USW. It also confirms one more time that we know very well our responsibilities as the supplier of choice to clients in critical sectors, such as military and automotive. We have now demonstrated twice why Cleveland-Cliffs gets things done and how we act: we negotiate respectfully, fairly and privately. A strong workforce is critical to our present and future competitiveness, and we look forward to continuing our shared success with our USW partners.”  Each agreement is now pending ratification by USW local union memberships. No further details will be provided by the Company prior to ratification.