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Algoma Central Corporation Announces Results of 2022 Annual General Meeting of Shareholders

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ST. CATHARINES, Ontario, May 04, 2022--(BUSINESS WIRE)--Algoma Central Corporation (TSX:ALC), held its Annual General Meeting of Shareholders (the "Meeting") on May 4, 2022. Each of the matters set out below were voted upon at the Meeting and are described in greater detail in the Company’s Management Information Circular dated February 25, 2022, available online at www.algonet.com/investor-relations and on www.sedar.com.

1. Election of Directors

All nominees listed in the Management Information Circular were elected as directors until the next annual general meeting of shareholders with the support of 78.47% of shares voted.

Nominee

Outcome

Votes For

Votes Withheld

Total

Richard B. Carty

Elected

29,399,958

249,034

29,648,992

Paul Gurtler

Elected

29,586,954

62,038

29,648,992

E.M. Blake Hutcheson

Elected

29,583,491

65,501

29,648,992

Duncan N.R. Jackman

Elected

29,532,566

116,426

29,648,992

Trinity O. Jackman

Elected

29,563,738

85,254

29,648,992

Mark McQueen

Elected

29,620,564

28,428

29,648,992

Clive P. Rowe

Elected

29,576,851

72,141

29,648,992

Harold S. Stephen

Elected

29,601,951

47,041

29,648,992

Eric Stevenson

Elected

29,602,364

46,628

29,648,992

2. Appointment of Auditors

Professional accounting firm Deloitte LLP was appointed as independent auditors of the Company.

Outcome

Votes For

Votes Withheld

Total

Approved

29,628,355

35,705

29,664,060

Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010 we have introduced 10 new build vessels to our domestic dry-bulk fleet, with one under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally. Algoma truly is Your Marine Carrier of Choice™. For more information about Algoma, visit the Company's website at www.algonet.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220504006235/en/

Contacts

Gregg A. Ruhl
President & CEO
905-687-7890

Peter D. Winkley
Chief Financial Officer
905-687-7897

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