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DewDiligence

03/02/21 4:07 PM

#23680 RE: DewDiligence #23655

CLF—The subheading of this write-up misses the boat in a big way:

https://www.thestreet.com/investing/iron-ore-miner-cleveland-cliffs-jumps-on-upgrade-to-buy
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DewDiligence

03/30/21 4:30 PM

#23847 RE: DewDiligence #23655

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.