Carlos de Alba

Lawson Winder

Alexander Hacking

Christopher LaFemina

Martin Englert

Nick Giles

Philip Gibbs

William Peterson

Albert Rellin

Alex Hacking

Lucas Pipes

Michael Harris

Mike Harris

Nick Kyle

Phil Gibbs

Timna Tanners

Tristan Gresser

- On October 10, 2025, Cleveland-Cliffs Inc. issued an additional **$275,000,000** aggregate principal amount of **7.625% Senior Guaranteed Notes due 2034**.  **[764065_0000764065-25-000144_clf-20251010.htm:1]** 
- These Additional Notes were issued at a price of **102.75% of their principal amount**, increasing the total aggregate principal amount of this series of notes to **$1,125,000,000**.  **[764065_0000764065-25-000144_clf-20251010.htm:1]** 
- The notes bear an annual interest rate of **7.625%**, with semi-annual interest payments commencing January 15, 2026, and will **mature on January 15, 2034**.  **[764065_0000764065-25-000144_clf-20251010.htm:1]** 
- The company intends to use the net proceeds from this issuance to **repay borrowings under its asset-based credit facility**.  **[764065_0000764065-25-000144_clf-20251010.htm:2]**

Cleveland-Cliffs Issues Additional Senior Guaranteed Notes

- Cleveland-Cliffs Inc. announced on **October 7, 2025**, the upsizing and pricing of an additional **$275 million** aggregate principal amount of **7.625% Senior Unsecured Guaranteed Notes due 2034**.  **[764065_0000764065-25-000142_a20251007-8xkxex992.htm:0]** **[764065_0000764065-25-000142_clf-20251007.htm:1]** 
- The Additional Notes were priced at **102.750% of their principal amount**, with an implied yield of **6.992%**.  **[764065_0000764065-25-000142_a20251007-8xkxex992.htm:0]** **[764065_0000764065-25-000142_clf-20251007.htm:1]** 
- The net proceeds from this offering are intended to **repay borrowings under its asset-based credit facility**.  **[764065_0000764065-25-000142_a20251007-8xkxex991.htm:0]** **[764065_0000764065-25-000142_a20251007-8xkxex992.htm:0]** 
- The offering is expected to close on **October 10, 2025**.  **[764065_0000764065-25-000142_a20251007-8xkxex992.htm:0]** **[764065_0000764065-25-000142_clf-20251007.htm:1]**

Cleveland-Cliffs Inc. Upsizes and Prices Additional Senior Unsecured Guaranteed Notes Offering

- Cleveland-Cliffs Inc. (CLF) has upsized and priced an additional **$275 million** aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034.  **[764065_d8e0eebe498b42a5ad9abe5494ed0a0c_0]** 
- The Additional Notes will be issued at a price of **102.750%** of their principal amount, with an implied yield of **6.992%**.  **[764065_d8e0eebe498b42a5ad9abe5494ed0a0c_0]** 
- The offering is expected to close on **October 10, 2025**, and the net proceeds will be used to **repay borrowings under its asset-based lending facility**.  **[764065_d8e0eebe498b42a5ad9abe5494ed0a0c_0]**

Cleveland-Cliffs announces upsizing and pricing of additional senior unsecured notes

- Cleveland-Cliffs Inc. has announced the upsizing and pricing of an additional **$275 million** in senior unsecured guaranteed notes due **2034**.  **[764065_cc047b254c3d4d4c94561e3c0750b646]** 
- The notes are priced at **102.750%** of their principal amount, with an implied yield of approximately **6.992%**.  **[764065_cc047b254c3d4d4c94561e3c0750b646]** 
- The proceeds from this offering are intended to **repay borrowings** under its asset-based lending facility, aiming to improve financial flexibility and capital structure.  **[764065_cc047b254c3d4d4c94561e3c0750b646]** 
- The offering is expected to close by **October 10, 2025**.  **[764065_cc047b254c3d4d4c94561e3c0750b646]**

Cleveland-Cliffs Upsizes Senior Notes Offering

CLEVELAND-CLIFFS (CLF)