Algoma Central Corporation Announces Results of 2024 Annual General and Special Meeting of Shareholders

ST. CATHARINES, Ontario--()--Algoma Central Corporation (TSX:ALC), held its Annual General and Special Meeting of Shareholders (the “Meeting”) on May 1, 2024. Each of the matters set out below were voted upon at the Meeting and are described in greater detail in the Company’s Management Information Circular dated March 8, 2024, available online at www.algonet.com/investor-relations and www.sedarplus.ca.

1. Election of Directors

All nominees listed in the Management Information Circular were elected as directors until the next annual general meeting of shareholders with the support of 75.65% of shares voted.

Nominee

Outcome

Votes For

Votes Against

Total

Mats H. Berglund

Elected

29,784,545

74,869

29,859,414

Richard B. Carty

Elected

29,733,870

125,543

29,859,413

Jens GrØnning

Elected

29,785,312

74,102

29,859,414

E.M. Blake Hutcheson

Elected

29,790,682

68,732

29,859,414

Duncan N.R. Jackman

Elected

29,728,867

130,546

29,859,413

Trinity O. Jackman

Elected

29,686,137

173,277

29,859,414

Mark McQueen

Elected

29,790,466

68,948

29,859,414

Clive P. Rowe

Elected

29,741,072

117,532

29,858,604

Gregg A. Ruhl

Elected

29,824,473

34,941

29,859,414

Eric Stevenson

Elected

29,797,693

61,721

29,859,414

2. Appointment of Auditors

Professional accounting firm Deloitte LLP was appointed as independent auditors of the Company.

Outcome

Votes For

Votes Withheld

Total

Approved

29,833,642

59,809

29,893,451

3. Continuation of the Company’s Stock Option Plan

The continuation of the Company's stock option plan and authorization of the grant of all currently available option entitlements issuable thereunder until May 1, 2027 was approved.

Outcome

Votes For

Votes Against

Total

Approved

29,013,761

845,652

29,859,413

About Algoma Central Corporation

Algoma Central Corporation is a global provider of marine transportation that owns and operates dry and liquid bulk carriers, serving markets throughout the Great Lakes - St. Lawrence Seaway and internationally. Algoma is aiming to reach a carbon emissions reduction target of 40% by 2030 and net zero by 2050 across all business units with fuel efficient vessels, innovative technology, and alternate fuels. Algoma truly is Your Marine Carrier of Choice™. Learn more at www.algonet.com.

Contacts

Media

Gregg A. Ruhl
Algoma Central Corporation
President & CEO
905-687-7890

Peter D. Winkley, CPA, CA
Algoma Central Corporation
EVP & Chief Financial Officer
905-687-7897

Contacts

Media

Gregg A. Ruhl
Algoma Central Corporation
President & CEO
905-687-7890

Peter D. Winkley, CPA, CA
Algoma Central Corporation
EVP & Chief Financial Officer
905-687-7897