ALGOMA CENTRAL CORPORATION ANNOUNCES A 5% INCREASE IN QUARTERLY DIVIDEND

St. Catharines, Ontario (January 17, 2025) — Algoma Central Corporation (“Algoma” or “the Company”) (TSX: ALC), a leading provider of marine transportation services, today announced that the Company’s Board of Directors authorized payment of a quarterly dividend to shareholders of $0.20 per common share.

The dividend is payable on March 3, 2025 to shareholders of record on February 14, 2025.

This $0.20 common share dividend represents a 5% increase from the $0.19 per share dividend paid on December 2, 2024. Since 2018, Algoma’s quarterly dividend has more than doubled and the Company has paid Special Dividends totaling $4.75 per share.

About Algoma Central Corporation

Algoma Central Corporation is a global provider of marine transportation that owns and operates dry and liquid bulk carriers, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Algoma is aiming to reach a carbon emissions reduction target of 40% by 2030 and net zero by 2050 across all business units with fuel efficient vessels, innovative technology, and alternate fuels. Algoma truly is Your Marine Carrier of Choice™. Learn more at www.algonet.com.

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