Algoma Central Corporation Announces Update to COVID-19 Precautionary Measures for its 2020 Annual General Meeting of Shareholders

St. Catharines, ON (May 1, 2020) – Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading supplier of marine transportation services, would like to remind all shareholders that the 2020 Annual General Meeting of Shareholders (the “Meeting”) will take place on Wednesday May 6, 2020 at the hour of 11:30 a.m. (EDT).

We have continued to monitor closely the COVID-19 pandemic and are abiding by the directives from Canadian public health officials on physical distancing. In response to these directives and to protect the safety of our employees, shareholders and other stakeholders, a live webinar of the Meeting will be available at the link noted below. The webinar platform will not support the casting of votes so, this year, more than ever, we strongly encourage you to vote on the matters prior to the Meeting by proxy and to attend and participate at the Meeting via webinar. We believe this precautionary measure protects the health and well-being of our shareholders, employees and other stakeholders, while also supporting shareholder engagement and enabling shareholders to participate in the Meeting. Shareholders will be able to ask questions of management through the webinar at the conclusion of the Meeting as usual.

We also want to remind you that public gatherings of more than 5 people are currently prohibited by the Ontario government. Should a larger number of shareholders seek to attend the Meeting in person we may be required to postpone the Meeting to some later date.

The live webinar of the meeting will be available through Algoma’s website at www.algonet.com. Voting results for each of the resolutions to be considered by shareholders will be announced after the Meeting and reported on SEDAR.

We would like to thank all of our valued shareholders in advance for your understanding and cooperation.

About Algoma Central Corporation

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, cement carriers and product tankers. 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.

For further information please contact:

Gregg A. Ruhl    
President and CEO  
+1 905-687-7890

   Peter D. Winkley 
   Chief Financial Officer  
   +1 905-687-7897

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