Algoma Steel (NASDAQ: ASTL) unveils 2025 sustainability report and EAF decarbonization push

Rhea-AI Filing Summary

Algoma Steel Group Inc. filed a Form 6-K to share its 2025 Sustainability Report, covering the 12 months ended December 31, 2025. The report discusses a pivotal year in which Algoma began operating its first Electric Arc Furnace (EAF) and wound down its blast furnace and coke oven operations.

The company highlights the July 2025 commissioning of its first EAF unit, the launch of its lower‑carbon Volta™ steel, and construction of a second EAF unit targeted for 2026. Once fully transitioned, Algoma targets an approximately 70% reduction in carbon emissions intensity, positioning itself as a leading lower‑carbon steel producer. The report is prepared in alignment with SASB and TCFD frameworks, emphasizing transparency and long-term value creation.

Insights

ESG and industrial decarbonization analyst

Algoma details a major shift to lower‑carbon EAF steelmaking with a large targeted emissions cut.

Algoma Steel describes a structural move from blast furnace to Electric Arc Furnace (EAF) steelmaking, including commissioning its first EAF in July 2025 and starting decommissioning of Blast Furnace No. 7 and cokemaking assets in January 2026. This represents a fundamental change in production technology.

The company targets an approximate 70% reduction in carbon emissions intensity once the EAF transition is fully operational, leveraging Ontario’s clean electricity grid. It also introduces Volta™ as the brand for steel made with this EAF technology, aiming to maintain product performance while lowering emissions for customers in sectors like energy, defense, and infrastructure.

The 2025 Sustainability Report is prepared in alignment with SASB and TCFD frameworks, signaling ongoing focus on standardized ESG disclosure. Forward-looking statements in the release reference expectations for commissioning EAF Unit 2 and scaling a plate‑first commercial strategy, with outcomes subject to risks outlined in Algoma’s Annual Information Form and Form 40‑F.

Key Figures

Reporting period: 12 months ended December 31, 2025 EAF Unit 1 commissioning: July 2025 Blast furnace shutdown: January 2026 +1 more

4 metrics

Reporting period 12 months ended December 31, 2025 Coverage period for 2025 Sustainability Report

EAF Unit 1 commissioning July 2025 Commissioning date of first Electric Arc Furnace unit

Blast furnace shutdown January 2026 Cessation of operations and start of decommissioning of Blast Furnace No. 7 and cokemaking assets

Emissions reduction target Approximately 70% Targeted reduction in carbon emissions intensity once fully transitioned to EAF steelmaking

Key Terms

Electric Arc Furnace (EAF), Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), forward-looking statements, +1 more

5 terms

Electric Arc Furnace (EAF) technical

"With the successful start-up of our first Electric Arc Furnace (EAF) and the subsequent wind-down of our blast furnace"

An electric arc furnace (EAF) is a type of industrial furnace that melts steel scrap or direct-reduced iron using powerful electric arcs, like using a giant electric blowtorch to liquefy metal. Investors watch EAFs because they determine a steelmaker’s costs, energy use, and emissions profile: EAF-based plants can be quicker to build and cleaner than traditional blast furnaces but are sensitive to electricity prices and scrap availability, which affect profit margins.

Sustainability Accounting Standards Board (SASB) financial

"Prepared in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures"

A sustainability accounting standards board (SASB) develops industry-specific standards that tell companies which environmental, social, and governance issues are likely to affect financial performance and should be disclosed to investors. Think of it as a checklist that makes sustainability information consistent and comparable across companies, helping investors judge risks and opportunities—like assessing how well different cars score on fuel efficiency when deciding which to buy.

Task Force on Climate-related Financial Disclosures (TCFD) financial

"Prepared in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD)"

A set of recommended disclosures on how climate change creates financial risks and opportunities for a company, covering governance, strategy, risk management and metrics. Think of it like a standardized inspection report that helps investors compare how well different companies identify and prepare for climate-related threats and chances; clearer, consistent reporting makes it easier to assess long-term risk, value and where to put capital.

forward-looking statements regulatory

"This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

industrial decarbonization technical

"completing its shift to EAF steelmaking — Canada’s largest industrial decarbonization project"

Efforts to cut greenhouse gas emissions from heavy industry—like steel, cement, chemicals and refineries—by changing how products are made, using cleaner energy, boosting efficiency or capturing emissions before they reach the air. For investors, this matters because it can reshape costs, future regulatory and legal risks, and demand for new equipment or services—much like a company replacing an old vehicle fleet to save fuel, avoid fines and stay competitive.

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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number 001-40924

ALGOMA STEEL GROUP INC.

(Exact name of Registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

105 West Street

Sault Ste. Marie, Ontario

P6A 7B4, Canada

(705) 945-2351

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☐   Form 40-F ☒

EXHIBIT INDEX

Exhibit Number		Description
99.1		Press release dated June 4, 2026.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Algoma Steel Group Inc.
Date: June 4, 2026		By:		/s/ John Naccarato
				Name: John Naccarato
				Title: Vice President Strategy and Chief Legal Officer

3

Exhibit 99.1

 

MEDIA RELEASE

June 4, 2026

Algoma Steel Releases 2025 Sustainability Report

SAULT STE. MARIE, ONTARIO (June 4, 2026) – Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of steel plate and hot rolled sheet products, today announced the release of its 2025 Sustainability Report (the “Report”), covering the 12 months ended December 31, 2025. Algoma reports its sustainability performance on a calendar-year basis, aligned with its financial reporting practices.

Rajat Marwah, Algoma’s Chief Executive Officer, commented, “This Report reflects a pivotal year in Algoma’s nearly 125-year history. With the successful start-up of our first Electric Arc Furnace (EAF) and the subsequent wind-down of our blast furnace and coke oven operations, we have entered a new era as an EAF steel producer. Throughout this transformation, our focus has remained on operating responsibly, protecting the safety and well-being of our employees, and maintaining strong relationships with our customers, communities, and partners. Sustainability remains central to how we operate and how we create long-term value.”

The 2025 Report highlights Algoma’s progress across key sustainability areas during a year defined by transformation and a challenging trade environment. Milestones include the successful commissioning of the first EAF unit in July 2025, marking the beginning of Volta^™ steel production, with construction of the second EAF unit on track for 2026. In January 2026, Algoma ceased operating and began decommissioning its Blast Furnace No. 7 and cokemaking assets, completing its shift to EAF steelmaking — Canada’s largest industrial decarbonization project. Once fully operational, the transition is targeted to reduce Algoma’s carbon emissions intensity by approximately 70%, positioning the Company as a leading producer of lower-carbon steel for North American and global markets.

Prepared in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), the Report underscores Algoma’s ongoing commitment to transparency, accountability, and long-term value creation.

The full report is available at www.algoma.com.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding the expected commissioning and ramp-up of EAF Unit 2, the expected scaling of the Company’s plate-first commercial

 

strategy, Algoma’s transition to EAF steelmaking and the expected benefits thereof, the Company’s expected annual raw steel production capacity and reduction in carbon emissions, Algoma’s future as a leading producer of green steel and the Company’s ability to focus financial resources on strategic opportunities supporting long-term growth and value creation. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including those set forth in “Risk Factors” and “Cautionary Note Regarding Forward-Looking Information” in Algoma’s Annual Information Form, filed under the Company’s SEDAR+ profile at www.sedarplus.ca and with the SEC as part of Algoma’s Annual Report on Form 40-F at www.sec.gov. Forward-looking statements speak only as of the date they are made. Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

About Algoma Steel

Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defense, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada.

With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada. Powered by Ontario’s clean electricity grid, this transformation represents one of the largest industrial decarbonization initiatives in North America and is expected to reduce carbon emissions by approximately 70% once fully transitioned. These advancements provide stability for continued investment in diversification projects aligned with Canada’s evolving needs.

This new chapter also introduces Volta^™, the brand for all steel produced through Algoma’s EAF technology. Volta delivers the same trusted performance customers rely on, with significantly lower emissions—produced safely, sustainably, and proudly in Canada.

 

Building on more than a century of steelmaking expertise, Algoma continues to invest in its people, processes, and technologies to strengthen domestic supply chains and deliver responsible, Canadian-made steel that helps build a better tomorrow.

For more information, please contact:

Michael Moraca

Chief Financial Officer

Algoma Steel Group Inc.

Phone: 705.945.3300

E-mail: IR@algoma.com

FAQ

What does Algoma Steel (ASTL) announce in its June 2026 Form 6-K?

Algoma Steel announces the release of its 2025 Sustainability Report covering the 12 months ended December 31, 2025. The report details its shift to Electric Arc Furnace steelmaking and related environmental and long-term value initiatives.

How is Algoma Steel (ASTL) changing its steelmaking process?

Algoma Steel is transitioning from blast furnace and coke oven operations to Electric Arc Furnace (EAF) steelmaking. It commissioned its first EAF unit in July 2025 and began decommissioning Blast Furnace No. 7 and cokemaking assets in January 2026.

What carbon emissions reduction target does Algoma Steel (ASTL) describe?

Algoma Steel targets an approximate 70% reduction in carbon emissions intensity once its transition to Electric Arc Furnace steelmaking is fully operational. This goal is tied to its broader industrial decarbonization initiative powered by Ontario’s clean electricity grid.

Which reporting frameworks does Algoma Steel’s 2025 Sustainability Report follow?

The 2025 Sustainability Report is prepared in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), supporting more comparable, transparent sustainability and climate-related reporting for investors and other stakeholders.

What is Algoma Steel’s Volta™ brand mentioned in the 6-K filing?

Volta™ is the brand for all steel produced through Algoma Steel’s Electric Arc Furnace technology. It is positioned as delivering the same trusted performance as traditional products but with significantly lower emissions, produced safely and sustainably in Canada.

Where can investors access Algoma Steel’s 2025 Sustainability Report?

Investors can access Algoma Steel’s 2025 Sustainability Report on the company’s website at www.algoma.com. The Form 6-K notes that the full report is available there, complementing disclosures in its Annual Information Form and Form 40-F.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 12.2 KB