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DewDiligence

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DewDiligence

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Re: DewDiligence post# 23655

Tuesday, 03/30/2021 4:30:19 PM

Tuesday, March 30, 2021 4:30:19 PM

Post# of 30495
CLF—(+3%/AH)—provides 2021-EBITDA guidance:

https://finance.yahoo.com/news/cleveland-cliffs-announces-first-quarter-201500312.html

The Company’s forecast includes the following expectations:

• First-quarter 2021 adjusted EBITDA of approximately $500 million

• Second-quarter 2021 adjusted EBITDA of approximately $1.2 billion

• Full-year 2021 adjusted EBITDA of approximately $3.5 billion

The full-year expectation is based on current contractual business and the assumption that the US HRC price averages $975 per net ton for the remainder of the year.

CLF had not previously issued 2021 EBITDA guidance.

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