Investor Presentaiton

The Evolution of a Leading Regional Infrastructure Company Algoma Today (2020+) RAL-NOL CENTR Building a Maritime Infrastructure Platform (2000 - 2019) Well-capitalized and entrenched with customers Long-term investments in asset base Great Lakes fleet renewal largely complete - Expanded domestic product tanker fleet Growing with its customers Great Lakes Heritage (1899-1990s) Incorporated originally as a railway; acquired four vessels exporting ore in exchange for land concessions ■Marine business becomes largest unit by 1973 ■ Railway sold in 1995 ■Consolidator in Great Lakes market in the 1980s and 1990s ■ Achieves leading market share in the Great Lakes ■ Selective and strategic expansion into niche markets/trades with similar characteristics Self-unloaders in the America's through pool with CSL - - Acquires Canadian flag tanker fleet of Imperial Oil Establishes JVs in global short sea shipping ■ Divesture of legacy real estate assets to focus on core maritime infrastructure business ■ Returning capital to shareholders 12 Continuously evaluating and strategically positioning Algoma's asset base to maintain a leadership position within defensible, regulated trades with a strong cash flow profile Your Marine Carrier of Choice T

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