Algoma Steel (ASTL) Q4 2025 Earnings Transcript

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Thursday, March 12, 2026 astatine 11 a.m. ET

• Chief Executive Officer — Rajat Marwah

• Chief Financial Officer — Mike Moraca

• Vice President, Human Resources and Corporate Affairs — Laura Devoni

Operator: Greetings, and invited to the Algoma Steel Group Inc. Fourth Quarter 2025 Earnings Call. At this time, each participants are successful a listen-only mode. If anyone should necessitate relation assistance, arsenic a reminder, this league is being recorded. It is present my pleasance to present Laura Devoni, vice president of quality resources and firm affairs. Please spell ahead.

Laura Devoni: Good morning, everyone, and invited to Algoma Steel Group Inc. Fourth Quarter 2025 Earnings Conference Call. My sanction is Laura Devoni, vice president of quality resources and firm affairs, and I volition beryllium moderating today's call. The prepared remarks are Rajat Marwah, main enforcement officer, and Mike Moraca, our main fiscal officer. As a reminder, this telephone is being recorded and volition beryllium made disposable for replay aboriginal contiguous successful the Investors conception of Algoma Steel Group Inc.'s firm website astatine www.algoma.com. I would similar to punctual you that comments made connected today's telephone whitethorn incorporate forward-looking statements wrong the meaning of applicable securities laws, which impact assumptions and inherent risks and uncertainties.

Actual results whitethorn disagree materially from statements made today. In addition, our fiscal statements are prepared successful accordance with IFRS, which differs from US GAAP, and our treatment contiguous includes references to definite non-IFRS fiscal measures. Last evening, we posted an net presumption to travel today's prepared remarks. The slides for today's telephone tin beryllium recovered successful the Investors conception of our firm website. With that successful mind, I would inquire everyone connected today's telephone to work the ineligible disclaimers connected descent 2 of the accompanying net presumption and to besides notation to the risks and assumptions outlined successful Algoma Steel Group Inc.'s 4th fourth 2025 management's treatment and analysis.

Please enactment that our fiscal statements are prepared utilizing the US dollar arsenic our functional currency and the Canadian dollar arsenic our presumption currency. As a reminder, the institution changed its fiscal twelvemonth extremity from March 31 to December 31, resulting successful a nine-month fiscal reporting play ending 12/31/2024. For easiness of comparison, we volition absorption our comments contiguous connected the three- and twelve-month periods ending 12/31/2025 and 2024. Please besides enactment that amounts referred to connected today's telephone are successful Canadian dollars unless different noted. Following our prepared remarks, we volition behaviour a question and reply session. I volition present crook the telephone implicit to our main enforcement officer. Rajat?