St. Catharines, ON (April 8, 2020) – Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading supplier of marine transportation services, today announced that the 2020 Annual General Meeting of Shareholders (the “Meeting”) to take place on Wednesday May 6, 2020 at the hour of 11:30 a.m. (EDT) will now be held at the Offices of Algoma Central Corporation at 63 Church Street, St. Catharines, ON L2R 3C4 and will be available via live webinar.

We are closely monitoring the COVID-19 (coronavirus) pandemic and are sensitive to the public health and travel concerns our shareholders may have as well as the directives from Canadian public health officials on physical distancing.  In response to these directives and in efforts to protect the safety of our shareholders, a live webinar of the Meeting will be available at the link noted below. The webinar platform will not support the casting of votes and so this year, more than ever, we encourage you to vote on the matters prior to the Meeting by proxy and to attend and participate at the Meeting via webinar. Shareholders will be able to ask questions of management through the webinar at the conclusion of the Meeting as usual.

Given the need for risk management in respect of the COVID-19 virus, anyone attending the Meeting will be asked a series of questions prior to being admitted to the Meeting. In order to ensure the health and safety of all attendees, the Company, as host of the Meeting, will reserve the right to restrict access to the Meeting depending on the responses to the questions posed.

The live webinar of the meeting will be available through Algoma’s website at www.algonet.com. Voting results for each of the resolutions to be considered by shareholders will be announced after the Meeting and reported on SEDAR.

The Canadian Securities Administrators recently announced relief in order to allow public companies to change the date, time or location of annual general meetings should the spread of the current COVID-19 pandemic make it impossible or inadvisable to hold them as previously scheduled. Pursuant to this relief, the Company may notify shareholders of such changes without sending or filing additional proxy materials. To the extent that the Company determines it necessary to further change the location or format of the Meeting in order to hold a virtual only meeting the Company will inform shareholders of such a determination by way of a news release.

We would like to thank all of our valued shareholders in advance for your understanding and cooperation.

About Algoma Central Corporation

Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers, cement carriers and product tankers.  Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally.

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