CLEVELAND-CLIFFS - Key Persons

Job Titles:

• Director
• Member of the Audit Committee
• Member of the Contact the Board
• Audit / Strategy and Sustainability

Ms. Yocum brings extensive business and management experience to the Board, drawing from her career in the financial services industry and from her prior service on several other public company boards. As former Executive Vice President and Managing Executive of Client Service, PNC Asset Management, she contributes expertise in a variety of investment and finance areas. She held key leadership roles in PNC's investment management and wealth management businesses. During the course of her career at PNC, she led several business units, as well as held strategic planning roles. Her experience also includes regulatory, risk management and compliance matters. Ms. Yocum has also served on, and assumed leadership roles with, multiple other public and private company boards of directors, including the board of Glenmede Trust Company, the board of AK Steel and the board of Key Energy where she chaired the Audit Committee. Her community service activites include serving on the board of the Community College of Philadelphia Foundation. She is a member of the National Association of Corporate Directors (NACD) and Vice Chair of NACD Philadelphia Chapter, and a member of Women Corporate Directors. Ms. Yocum earned her Bachelor of Arts degree from Dickinson College and her Juris Doctor degree from Villanova School of Law.

Job Titles:

• Executive Vice President
• Executive Vice President & President, Cleveland - Cliffs Steel

Mr. Smith is Executive Vice President & President, Cleveland-Cliffs Steel. He provides executive leadership for the Steelmaking business' operations and commercial sales. Mr. Smith also oversees the company's Research and Innovation Center and the technology group. Prior to his present role, Mr. Smith was Executive Vice President, Chief Operating Officer. He played a key role in the acquisitions of AK Steel and ArcelorMittal USA in 2020, as the Company became the largest flat-rolled producer of steel in the United States. Formerly, he was Executive Vice President, Business Development and had leadership for developing emerging business opportunities to grow Cleveland-Cliffs' U.S. domestic market. He served as Executive Vice President, Seaborne Iron Ore where he had oversight for the Company's former international operations in Australia and Canada. Mr. Smith has also held various senior management positions within Cleveland-Cliffs including Vice President of Cliffs Michigan operations, Vice President of Latin American Operations and Senior Vice President of Business Development. During his career, Mr. Smith held mine management positions with Asarco, Southern Peru Copper Corporation, and Amax Coal. He received a BSc in mining engineering from the South Dakota School of Mines and Technology.

Job Titles:

• Lead Director
• Member of the Compensation and Organization Committee
• Member of the Contact the Board
• Chief Executive Officer and Co - Chief Investment Officer of Casablanca Capital LP

Mr. Taylor has served as Chief Executive Officer and Co-Chief Investment Officer of Casablanca Capital LP, a hedge fund, since he co-founded it in 2010. Prior to Casablanca, Mr. Taylor was a Managing Director at Lazard Freres & Co. LLC, a leading financial advisory and asset management firm, from 2002 until 2010. From 2000 until 2001, Mr. Taylor served as a Managing Director of Dresdner Kleinwort Benson, and from 1993 until 2000, he held various positions, including Managing Director at Wasserstein Perella, a global mergers and acquisitions advisory and investment firm, which was bought by Dresdner Bank. Mr. Taylor began his investment banking career at Toronto Dominion Bank, a Canadian multinational banking and financial services corporation, where he served as Associate from 1990 until 1993. From 2008 to 2010, Mr. Taylor was the Chief Financial Officer and director at Sapphire Industrials Corp., a blank check company formed for the purpose of effecting business combinations with one or more operating businesses. Mr. Taylor holds a Bachelor of Arts degree in Economics from McGill University and a Master of Arts degree in International Affairs from Columbia University School of International and Public Affairs. Mr. Taylor's qualifications as director include his vast financial and strategic advisory and investment experience, which included advising public companies.

Job Titles:

• Director
• Member of the Contact the Board
• Managing Partner of Studio Investimentos
• Strategy and Sustainability

Mr. Stoliar brings to the Board his vast experience in and relating to the metals and mining industries along with his extensive experience serving on various boards of directors. Mr. Stoliar previously served as the Chief Financial Officer and subsequently as Executive Director of Planning and Business Development at Vale S.A., a Brazilian multinational diversified metals and mining company, from 1997 until 2008. Mr. Stoliar currently serves as managing partner of Studio Investimentos, an asset management firm focused on Brazilian equities, where he has served since 2009. Mr. Stoliar served as Chairman of the board of directors at Tupy S.A., a foundry and casting companies, from 2009 to 2023. Mr. Stoliar has also served on the boards of directors of Knijnik Engenharia Integrada, an engineering company, and LogZ Logistica Brasil S.A., a ports logistic company, since 2013 and 2011, respectively. Mr. Stoliar holds a Bachelor's of Science in Industrial Engineering from the Universdade Federal do Rio de Janeiro, a post graduate degree in Production Engineering with focus in Industrial Projects and Transportation from the Universdade Federal do Rio de Janeiro and an Executive MBA from PDG-SDE/ RJ.

Job Titles:

• Chief Legal and Administrative Officer
• Executive Vice President, Human Resources
• Secretary

James Graham is Executive Vice President, Human Resources, Chief Legal and Administrative Officer & Secretary of the Company. In this role, he has executive responsibility at Cleveland-Cliffs for the Legal, Compliance, Government Relations, Human Resources, including talent acquisition and development, labor relations, compensation and benefits, as well as Corporate Communications and Strategic Partnerships. He is responsible for ensuring coordinated legal services throughout the Company, providing direct counsel to the Board of Directors, overseeing the government, community relations and communication teams, corporate branding and administration of the Cleveland-Cliffs' code of business conduct and ethics compliance programs. Mr. Graham has been President of The Cleveland-Cliffs Foundation since 2018. He joined the Company in 2007 as Assistant General Counsel and has served in various senior management positions within the Company's legal department since that time. Before his tenure with Cleveland-Cliffs, Mr. Graham worked as an associate attorney at Calfee Halter & Griswold LLP. He earned his J.D. degree from Case Western Reserve University, his M.A. in French Literature from the University of Michigan and his B.A. degree in English and French from Hiram College. He serves on several non-profit boards, including Hiram College, Playhouse Square Foundation, the American Red Cross - Northeast Ohio Chapter, and Verb Ballets.

Job Titles:

• Manager, Investor Relations

Job Titles:

• Director
• Member of Governance and Nominating Committee
• Member of the Contact the Board
• Governance and Nominating

Ms. Miller was an executive officer with University Hospitals, a nationally ranked health care system headquartered in Cleveland, Ohio, prior to her retirement in May 2019. As Chief Legal Officer, Ms. Miller was a trusted advisor to the University Hospitals parent organization, as well as its many subsidiaries, on governance, internal audit, legal and enterprise risk matters. She provided strategic, tactical and legal advice in connection with acquisitions of 5 hospital systems and their related entities. University Hospitals includes teaching hospitals, 14-wholly owned hospital locations, multiple joint ventures, affiliations and investment relationships and more than 25,000 employees. Under Ms. Miller's leadership, UH developed state-of-the-art innovations which resulted in improved patient care and management of claims, as well as new techniques to manage corporate and regulatory matters and advance internal controls. Prior to joining University Hospitals in 2001, Ms. Miller was a partner in the Cleveland office of Jones Day and also served as the Cleveland Office Administrative Partner for Financial Matters. Ms. Miller received her undergraduate degree in accounting from the University of Michigan and a J.D. degree from the University of Notre Dame.

Job Titles:

• Director
• Member of the Audit Committee
• Member of the Compensation and Organization Committee
• Member of the Contact the Board
• Audit

From 2006 to 2013, Mr. Baldwin served as a Director and Chairman of the Audit Committee of Metals USA (NYSE: MUSA), which provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, specialty metals, and building products markets. Previously, he was Senior Vice President and Chief Financial Officer of Graphic Packaging Corporation, and Vice President and Chief Financial Officer of Worthington Industries, Inc. Prior to Worthington, Mr. Baldwin served in various financial capacities at Tenneco Inc. in both the U.S. and the U.K.. Mr. Baldwin previously served on the Board of The Genlyte Group Incorporated, where he also was Chairman of the Audit Committee. He holds a B.S. degree from the University of Houston and a J.D. from the University of Texas School of Law.

Job Titles:

• Executive Vice President
• Executive Vice President & President, Cleveland - Cliffs Services

Mr. Koci is Executive Vice President & President, Cleveland-Cliffs Services. He has executive oversight for IT, procurement and logistics, the downstream business segments of Tooling and Stamping, Tubular Components, and scrap recycling, as well as sales for iron units. He leads the growth of Cleveland-Cliffs' raw material portfolio, with a primary emphasis on expanding Cliffs' presence in the domestic scrap recycling market. Prior to his current position, Mr. Koci was Executive Vice President, Chief Financial Officer and had executive responsibility for Finance, Accounting, Tax, Treasury and Investor Relations. Mr. Koci joined Cleveland-Cliffs in February 2019 from Metals USA, Inc., where he served most recently as its Senior Vice President and Chief Financial Officer. Prior to that role, he served as Metals USA's Senior Vice President, Business Development from 2006 to 2013, where he was responsible for mergers and acquisitions in addition to capital investments, forecasting, and budgeting. He also held the roles of Vice President, Corporate Controller from 2004 to 2005; Director of Budgeting from 2003 to 2004; and Regional Controller of the Flat Rolled Group from 1998 to 2003. Mr. Koci played a key role in the implementation of Sarbanes Oxley requirements at Metals USA. Mr. Koci graduated from the University of Illinois - Chicago with a Bachelor of Science in Business Administration. He has been a Certified Public Accountant since 1986.

Job Titles:

• Chairman
• Chief Executive Officer
• Member of the Contact the Board
• President
• Chairman, President and Chief Executive Officer of Cleveland - Cliffs
• Strategy and Sustainability

Lourenco Goncalves has been Chairman, President and Chief Executive Officer of Cleveland-Cliffs since August 2014. He designed and led the company through a major strategic initiative transforming Cleveland-Cliffs into a leading player in the U.S. steel industry, starting with a complete financial turnaround, followed by growth initiatives in the metallics market and the entry into the steel business. In 2017, Cliffs started the construction in Toledo, Ohio of the world's most modern Direct Reduction Plant, which started operations in November 2020. Mr. Goncalves led the acquisition of AK Steel in March 2020, followed by the acquisition of ArcelorMittal USA in December 2020. With these two major acquisitions, Cleveland-Cliffs is now the largest flat-rolled steel company and the largest iron ore pellet producer in the United States and in North America, holding an industry-leading market position in automotive steel. With the Toledo plant, Cleveland-Cliffs became the sole producer in the Great Lakes region of hot briquetted iron (HBI), an environmentally friendly metallic feedstock designed to reduce GHG emissions. Prior to Cleveland-Cliffs, Mr. Goncalves served as Chairman of the Board, President and Chief Executive Officer of Metals USA Holdings Corp. for over 10 years. Prior to Metals USA, Mr. Goncalves served as President and Chief Executive Officer of California Steel Industries, Inc. for 5 years. Prior to that, he was employed by Companhia Siderúrgica Nacional (CSN), a major steel and mining company in Brazil, where he held several positions in operations and sales. From October 2011 to April 2014, Mr. Goncalves was a board member of Ascometal SAS, a manufacturer of special steel headquartered in Paris, France. Mr. Goncalves serves on the Board and is Chairman of the American Iron and Steel Institute. Mr. Goncalves is a Distinguished Member and Fellow of the Association for Iron & Steel Technology (AIST). He received AIST's "Steelmaker of the Year" Award for the year 2021. Also in 2021, S&P Global Platts presented Mr. Goncalves with the "CEO/Chairperson of the Year" Global Metals Award, which honors a leader who is highly respected by both peers and competitors, admired and followed by employees, trusted by investors and welcomed by the community. Under Mr. Goncalves' leadership, Cleveland-Cliffs was awarded by S&P Global Platts the top Global Metals Award as the "2021 Metals Company of the Year" and the "2021 Deal of the Year" Global Metals Award. Mr. Goncalves was also presented with the 2021 "Steel Advocate of the Year" Award, from Fastmarkets. In 2022, Mr. Goncalves was presented with the Willy Korf/Ken Iverson Steel Vision Award, which honors individuals who have made significant contributions to the steel industry while promoting goodwill and integrity. Mr. Goncalves earned a Master of Science degree in Metallurgical Engineering from the Federal University of Minas Gerais in Belo Horizonte, Brazil, and a Bachelor's degree in Metallurgical Engineering from the Military Institute of Engineering in Rio de Janeiro, Brazil.

Job Titles:

• Chief Financial Officer
• Executive Vice President

Mr. Celso L. Goncalves is Executive Vice President and Chief Financial Officer. He leads the financial organization for Cleveland-Cliffs Inc., with executive responsibility for Finance, Accounting, Tax, Treasury, Investor Relations, and Business Development. Prior to his present role, Mr. Goncalves was Senior Vice President of Finance & Treasurer, managing the company's cash, liquidity, and capital structure, as well as business development initiatives by evaluating and executing M&A transactions and capital investments. Prior to joining Cleveland-Cliffs, Mr. Goncalves worked in the Industrials Investment Banking group at Deutsche Bank in New York, executing capital markets and strategic advisory transactions for corporate and private equity clients globally. Before Deutsche Bank, he worked in the Leveraged Finance group at Jefferies in New York, structuring and executing High Yield and Leveraged Loan transactions. Mr. Goncalves was also one of the founding members of the Latin America Investment Banking group at Jefferies, based in New York and São Paulo, Brazil. Mr. Goncalves earned his Master of Business Administration (M.B.A.) from the Tepper School of Business at Carnegie Mellon University and his Bachelor of Science (B.S.) from the Marshall School of Business at the University of Southern California. He has also passed the FINRA Securities Industry Essentials Exam, FINRA Series 79 Investment Banking Representative Exam, and FINRA Series 63 Uniform Securities Agent State Law Exam. Mr. Goncalves is a Certified Treasury Professional (C.T.P.) by the Association of Financial Professionals.

Job Titles:

• Senior Vice President of Finance

Job Titles:

• Director
• Member of Governance and Nominating Committee
• Member of the Compensation and Organization Committee
• Member of the Contact the Board

Mr. Michael has held executive level positions with companies in the insurance and financial sectors, including in his current capacity as Chairman, Fifth Third Bank, Greater Cincinnati Region. Previously, Mr. Michael held various executive and management positions with Fifth Third Bank, Ohio Casualty Insurance Company, U.S. Bank and PNC Financial Services Group. His experience and background also enable him to provide valuable insights on a variety of Board oversight matters, including complex banking and financial issues. He has gained experience and knowledge by serving on several other public company boards. These include capital markets and finance matters as a former director for FBR & Co. and energy-related issues as a former member of the board and former Lead Director of Key Energy Services, Inc. Mr. Michael earned his Bachelor of Arts degree from Stanford University and his Master of Business Administration degree from the University of California at Los Angeles (UCLA) Graduate School of Management.

Job Titles:

• Director
• Member of Governance and Nominating Committee
• Member of the Audit Committee
• Member of the Contact the Board
• Audit / Governance and Nominating

During Mr. Fisher's tenure at Goldman, Sachs & Co. from 1982 to 2001, he worked extensively with many of the leading North American metals and mining companies, and also served as the head of Goldman's Investment Banking Mining Group. Mr. Fisher has vast experience in the investment and finance industries which included advising the boards of numerous public companies. Currently, Mr. Fisher is President and Chief Executive Officer of George F. Fisher, Inc., a private investment company that manages a portfolio of public and private investments. Mr. Fisher served as a director of CML HealthCare, Inc., a leading provider of medical diagnostic services, from 2010 until 2013. Mr. Fisher served on CML's Audit and Corporate Governance Committees, and as the Chairman of CML's Human Resources Committee, Chief Executive Officer Search Committee and the Special Committee to consider strategic alternatives. Mr. Fisher currently serves as Past President and Director Emeritus of Sailfish Point Foundation, a non-profit foundation that awards college scholarships and educational grants in Martin County, Florida, and has done so since 2012. Mr. Fisher served as President of Westchester Youth Soccer League, a non-profit organization that provides for youth soccer for 18,000 student-athletes in Westchester, Manhattan and Bronx New York, from 2004 until 2011. Mr. Fisher holds a Bachelor of Arts degree from Dartmouth College and a Master of Arts degree in Law and Diplomacy from Tufts University.

Job Titles:

• Director
• Member of Governance and Nominating Committee
• Member of the Contact the Board
• Governance and Nominating

Susan M. Green has over three decades of experience as a law and policy advocate in the public and private sectors. Currently, she teaches constitutional law and other courses at American University and the University of Maryland. Ms. Green began her career litigating cases on behalf of employees, labor unions, and employee benefit plans in federal and state courts across the country. Thereafter, she spent three years serving as Chief Labor Counsel to the late Senator Edward M. Kennedy. In that capacity, she managed Committee hearings and Senate floor debates; prepared Committee reports on legislation; and oversaw Senate confirmation of executive nominees. After holding high-ranking political appointments in the U.S. Department of Labor, Ms. Green spent six years as Deputy General Counsel at the U.S. Congress Office of Compliance, which enforces labor and employment laws for over 30,000 Legislative Branch employees. Ms. Green's community service activities include co-chairing the Schools Committee for the Harvard Club of Washington; participating as an Affiliated Researcher at the Institute for Women's Policy Research; and serving as senior review editor for an online book review. Ms. Green received her B.A. degree from Harvard College in 1980 and graduated from Yale Law School in 1985.

Job Titles:

• Executive Vice President, Operations

As Executive Vice President, Operations, Mr. Fedor has executive oversight for Cleveland-Cliffs' steelmaking operations and the Direct Reduction Plant. He was previously Executive Vice President - Operations for Cleveland-Cliffs, whereby he had leadership oversight for the Company's mining and pelletizing operations as well as transportation and logistics functions, supply chain and asset management. Mr. Fedor has over 35 years of experience in industrial operations. Prior to joining Cleveland-Cliffs, he served as Vice President and General Manager - Cleveland at former ArcelorMittal USA with responsibility for Warren, Weirton and Monessen steel operations. Mr. Fedor earned a bachelor's degree in mechanical engineering from the University of Akron in Akron, Ohio and a master's degree in business administration from John Carroll University in Cleveland, Ohio. He is a Registered Professional Engineer with the state of Ohio, and previously served as a President of the Board of Directors for the Association for Iron & Steel Technology.

Job Titles:

• Executive Vice President
• Executive Vice President, Environmental & Sustainability

Traci Forrester is Executive Vice President, Environmental & Sustainability of Cleveland-Cliffs Inc. She is responsible for the Environmental Affairs and Sustainability functions. Previously, Ms. Forrester was Executive Vice President, Business Development whereby she was responsible for developing emerging business opportunities supporting Cleveland-Cliffs' U.S. domestic market. Ms. Forrester began her career at Cleveland-Cliffs in 2004 within the company's legal department. She was Vice President, Deputy General Counsel & Assistant Secretary from 2018 to 2019. She was responsible for the company's compliance with securities laws and financial reporting, execution of strategic transactions and corporate governance matters, including working with the Board of Directors and its Committees. She also coordinated legal services and counsel for the company. Since joining Cliffs as Corporate Attorney, Ms. Forrester has served in various senior management positions within the Company's legal department. She was promoted to Group Counsel - Asia Pacific Operations in 2011 and oversaw and directed legal services for that business unit in Australia. She also held the role of Assistant General Counsel - Corporate Affairs & International Operations. Before her tenure with Cliffs, Ms. Forrester held an in-house legal counsel position at ABB Inc., a multinational industrial process automation company, as a senior attorney. Ms. Forrester earned her J.D. degree from Case Western Reserve University, and her B.A. Philosophy from Miami University. She is a board member of the Cleveland Play House and Friends of Breakthrough Schools.

Job Titles:

• Executive Vice President, Technology

Mr. Carter is Executive Vice President, Technology. Mr. Carter has executive management oversight for engineering, quality, capital management, and production planning functions of Cleveland-Cliffs' steelmaking operations. Prior to his present role, Mr. Carter was Senior Vice President, Flat-Rolled Steel Operations, and had senior management oversight for the Company's flat-rolled carbon steel operations throughout the United States. He was responsible for managing Cleveland-Cliffs' five integrated steel plants; two finishing operations; a tin plate plant; and the direct reduction plant. Mr. Carter has over 38 years of broad operational management, corporate strategy and quality experience in the iron and steel industry. Prior to his present role, he was for nearly a decade the general manager of the largest integrated steel mill in North America at Indiana Harbor in Lake County, Indiana. During his tenure, Mr. Carter oversaw the day-to-day administrative and operational functions, and successfully led efforts to right size the operation's annual production capacity. In his previous roles, Mr. Carter held general management positions and oversaw operations at New Carlisle, a continuous cold-rolling and galvanizing plant; Riverdale compact strip mill; and the Minorca iron ore mine. Mr. Carter is a past president of the Association for Iron and Steel Technology (AIST) and an active member of the organization. He is an Honorary member of the American Institute of Mining, Metallurgical, and Petroleum Engineers (AIME), an AIST Distinguished Member and Fellow and a recipient of the JE Johnson Award. He serves on the Indiana Chamber of Commerce Board and is a past board member of the Indiana Manufactures Association. Mr. Carter earned a Master of Business Administration from Indiana University Northwest and a Bachelor of Science in Metallurgical Engineering from Iowa State University.

Job Titles:

• Director
• Member of the Audit Committee
• Member of the Contact the Board
• Audit

Mr. Gerber currently is Managing Director of Cabrillo Point Capital LLC, a private investment fund. Prior to that, he was Executive Vice President and Chief Financial Officer of Kelly Services, Inc., a global staffing solutions company. Prior to joining Kelly Services, Mr. Gerber held senior management positions in corporate finance for The Limited, Inc. He is a member of the National Association of Corporate Directors, and serves on the Board of Wolverine World Wide Inc. Mr. Gerber also served on the board of Kaydon Corporation from 2007 to 2013 as chair of its audit committee, and previously served on the Board of Directors of Brylane, L.P. Mr. Gerber earned his Bachelor of Science in Economics degree from the Wharton School at the University of Pennsylvania, and his Master of Business Administration from the Harvard Graduate School of Business Administration.