Cleveland-Cliffs (CLF) Raises Q2 and FY Guidance

Cleveland-Cliffs Inc. (NYSE: CLF) today provided updated financial guidance based on its most recent 2021 financial forecast.

The Company’s forecast includes the following expectations:

• Second-quarter 2021 adjusted EBITDA* of $1.3 billion
• Full-year 2021 adjusted EBITDA* of $5 billion

The full-year expectation is based on current contractual business and the conservative assumption that the US HRC index price averages $1,175 per net ton for the remainder of the year.

The Company will announce its full second-quarter 2021 earnings results before the U.S. market open on Thursday, July 22, 2021.

The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on July 22, 2021 at 10:00 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address.

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