The shares are listed on the New York Stock Exchange

Davis Polk advised the sole underwriter in connection with a SEC-registered offering by Cleveland-Cliffs Inc. of 75,000,000 of its common shares, resulting in gross proceeds to the company of $963.7 million. The common stock is listed on the New York Stock Exchange under the ticker symbol “CLF.”

Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. It is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada.

The Davis Polk corporate team included partner Shane Tintle, counsel John H. Runne and associate Hope Goimarac. Partner Kara L. Mungovan and associates Benjamin Silver and Seokwon (Eric) Jang provided tax advice. Counsel Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.

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