Cleveland-Cliffs Proposes to Acquire U.S. Steel

News Release USW Endorsement Letter Investor Presentation

Letters of Correspondence

July 28, 2023: Initial offer letter from Lourenco Goncalves to David Sutherland and David Burritt August 7, 2023: Response letter from David Burritt to Lourenco Goncalves August 11, 2023: Proposal clarification letter from Lourenco Goncalves to David Sutherland and David Burritt August 13, 2023: Rejection letter from David Burritt to Lourenco Goncalves

USW Endorses Cleveland-Cliffs’ Proposal to Acquire U.S. Steel Corporation

The United Steelworkers (USW) has affirmed in writing that it endorses Cleveland-Cliffs’ proposal to acquire U.S. Steel Corporation. Under the terms of its collective bargaining agreement with U.S. Steel, the USW has the right to counter Cleveland-Cliffs’ proposal. This USW letter affirms to Cleveland-Cliffs that the USW will not exercise this right. Furthermore, the USW will not endorse anyone other than Cleveland-Cliffs for such a transaction.

Investor Presentation Supporting Cleveland-Cliffs’ Proposal to Acquire U.S. Steel Corporation

This downloadable investor deck provides a compelling strategic rationale of Cleveland-Cliffs’ proposal to acquire U.S. Steel Corporation.

View Investor Presentation Cleveland-Cliffs Applauds Preliminary Determination by the U.S. Department of Commerce in Tin Mill Products Trade Case View Press Release

Cleveland-Cliffs Ranks No. 170 on Fortune 500 List

Cleveland-Cliffs was named to the Fortune 500 list, once again among the top 200 companies. Cleveland-Cliffs’ 2022 revenue of $23 billion earned Cleveland-Cliffs the ranking of 170 on the list for 2023. The Fortune 500 list ranks companies that are incorporated and operate in the U.S. by total revenues for their respective fiscal years. In partnership with Fortune Brand Studio, Lourenco Goncalves, Chairman, President and CEO of Cleveland-Cliffs, sat down with Fortune CEO Alan Murray to talk about the Company's achievement, along with how Cleveland-Cliffs is prioritizing sustainability, protecting jobs, and innovating to meet the evolving needs of its main market, the automotive industry. For more information, click on the link below to be taken to CLF’s Profile Page on Fortune, or see our Fortune 500 Listing .

View CLF Profile Page

Introducing MOTOR-MAX™ Non-Oriented Electrical Steels

Cleveland-Cliffs MOTOR-MAX high frequency, non-oriented electrical steels (HF NOES) offer a variety of steel grades specifically developed for high frequency motors and generators.  Optimized for performance in EV traction motors, aircraft generators and other rotating equipment, MOTOR-MAX steel offers three distinctive insulative coatings for maximum design flexibility.  Cleveland-Cliffs is the only U.S.-based producer of HF NOES grade steel like MOTOR-MAX.

Our Sustainability Report 2022

Cleveland-Cliffs is pleased to share its Sustainability Report 2022, which provides a comprehensive overview of the Company’s environmental, social and governance programs, initiatives and performance metrics for calendar year 2022. The report is structured around five sustainability priorities: Steel for a Sustainable Future, Our Commitment to the Environment, Empowering Our People, Connecting with Our Communities, and Acting with Integrity.

Download Sustainability Report

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