NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Transaction highlights include:

• Gross proceeds of $518 million received by Stelco Inc.
• Leaseback of land underlying Stelco’s value-added steel finishing operations on favourable terms for 35 years, with renewal options for five further 20-year terms
• Allows for redevelopment of lands that have been idled since 2010 by major Ontario commercial and industrial real estate company
• Further demonstrates Stelco’s commitment to realizing significant value from underutilized assets

HAMILTON, Ontario–(BUSINESS WIRE)–Stelco Holdings Inc. (TSX: STLC) (“Stelco” or the “Company”) announced today that its wholly-owned subsidiary, Stelco Inc., has successfully closed a sale-leaseback transaction with an affiliate of Slate Asset Management (“Slate”). Stelco Inc. has sold the entirety of its interest in the approximately 800-acre parcel of land it occupies on the shores of Hamilton Harbour in Hamilton, Ontario to Slate for gross consideration of $518 million. In conjunction with the sale, Stelco Inc. has entered into a long-term lease arrangement for certain portions of the lands to continue its cokemaking and value-added steel finishing operations at its Hamilton Works site in Hamilton, Ontario.

Under the lease arrangements, Stelco will lease back portions of the lands on which it conducts its cold-rolling, galvanizing and other finishing operations under a 35-year lease, with renewal options for five additional 20-year terms. In addition, Stelco has entered into leases in respect of its Hamilton Works coke battery operations and its headquarters building and has the option to lease newly constructed office space at the Hamilton Works site on the expiry of the headquarters lease. The rental rates in respect of the leases are at market rates. The leases are ‘triple-net’ leases whereby Stelco is responsible for all operating, occupancy and maintenance costs and expenses in respect of the leased premises. Upon expiration of the respective leases, Stelco is required to vacate and demolish the buildings on the premises.

Stelco Executive Chairman and Chief Executive Officer Alan Kestenbaum said: “Stelco is thrilled to partner with Slate on this transaction. After reacquiring the lands in Hamilton, we have been working to unlock value and find the right partner to redevelop the lands upon which Stelco was founded. This is a great transaction for Stelco and its shareholders, and introduces a strong and experienced developer in Slate to further develop and grow our home city of Hamilton.” Kestenbaum continued, “We look forward to continuing to operate in the community that we have called home for over 100 years as it enjoys new growth opportunities.”

About Stelco

Stelco is a low cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America. Stelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled sheet products, as well as pig iron and metallurgical coke. With first-rate gauge, crown, and shape control, as well as uniform through-coil mechanical properties, our steel products are supplied to customers in the construction, automotive, energy, appliance, and pipe and tube industries across Canada and the United States as well as to a variety of steel service centres, which are distributors of steel products. At Stelco, we understand the importance of our business reflecting the communities we serve and are committed to diversity and inclusion as a core part of our workplace culture, in part, through active participation in the BlackNorth Initiative.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information may relate to our future outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “does not anticipate”, “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. These statements include, without limitation, statements regarding our continued operations in the community.

Undue reliance should not be placed on forward-looking information. The forward-looking information in this press release is based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Certain assumptions in respect of: the utilization of and access to our production capacity; capital expenditures associated with accessing such production capacity; the impact of COVID-19 on our business and the broader market in which we operate; the market’s ability to recover from COVID-19; upgrades to our facilities and equipment; our research and development activities associated with advanced steel grades; our ability to source raw materials and other inputs; our ability to supply to new customers and markets; our ability to effectively manage costs; our ability to attract and retain key personnel and skilled labour; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; changes in laws, rules, and regulations, including international trade regulations; and growth in steel markets and industry trends are material factors made in preparing the forward-looking information and management’s expectations contained in this press release.

There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date of this news release and are subject to change after such date. Stelco disclaims any intention or obligation or undertaking to update publicly or revise any forward-looking statements, whether written or oral, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

For Further Information

For investor enquiries: Paul D. Scherzer, Chief Financial Officer, (905) 577-4432, paul.scherzer@stelco.com

For media enquiries: Trevor Harris, Vice-President, Corporate Affairs, (905) 577-4447, trevor.harris@stelco.com

MALVERN, Pa.–(BUSINESS WIRE)–Saint-Gobain announces today that it has entered into a definitive agreement pursuant to which the Group will acquire Kaycan, Ltd., a family-owned manufacturer and distributor of exterior building materials in Canada and in the United States, for US$928 million (approximately €860 million) in cash.

With this acquisition, Saint-Gobain reinforces its worldwide leadership in light and sustainable construction by becoming the top siding player in Canada and enlarging its vinyl offer across the United States with complementary solutions including notably aluminum and engineered wood.

The price represents a multiple (before synergies) of approximately 11.2x Kaycan’s 2021-2022E¹ EBITDA of US$83 million and a net acquisition price of approximately US$820 million, i.e. a multiple of approximately 8.0x EBITDA post run-rate synergies of US$30 million and after the planned divestiture of the small United States distribution arm of Kaycan (that accounts for c.US$70 million in stand-alone resell of Kaycan products to third parties and c.US$10 million in EBITDA, assumed to be sold at a similar pre-synergy multiple to a third party shortly after the finalization of the transaction), while keeping the locally well-established Canadian distribution.

This acquisition meets the Group’s strategic and financial criteria articulated during the Capital Markets Day of October 6, 2021:

1. Strengthening the Group’s leadership in North America as well as enriching our offering in light and sustainable construction
2. Value creation by year 3 following the closing of the transaction
3. Maintaining a strong balance sheet and solid credit rating with a limited impact of +0.1x net debt to EBITDA with leverage staying within the target set (1.5 to 2.0x)

Closing of the transaction is subject to antitrust approvals and satisfaction of other customary closing conditions; it is expected to close by year-end 2022.

STRATEGIC BENEFITS

Kaycan is a leading exterior building materials player with US$472 million in revenues – more than half in Canada and the remainder in the United States, 12 manufacturing plants (of which 9 in Canada) and employing around 1,300 people. It is the leading manufacturer of siding products in Canada which it sells thanks to its well-known and trusted brand via its dedicated distribution and strong channel coverage in big box retail, providing unparalleled customer reach across the country and with recycling services of post-consumption materials which can in turn be incorporated into the production process. Leveraging the highly efficient country organization of Saint-Gobain, this acquisition will complement the Group’s leadership in Canada (where Saint-Gobain achieved 2021 sales of around CAD$750 million across gypsum, insulation, ceilings and roofing) allowing it to broaden the light and sustainable construction solutions offered for the benefit of its Canadian customers. It will also allow Saint-Gobain to strengthen and expand its channel coverage and partnerships to reach new customers in the light commercial market.

The acquisition also enables Saint-Gobain to reinforce its activities in siding in the United States and will allow the Group to broaden its offer towards the growing markets of aluminum and engineered wood siding solutions, manufactured using a high degree of recycled materials.

VALUE CREATION & SYNERGIES

A value-creative transaction for Saint-Gobain’s shareholders with significant synergies. This acquisition will create value by year 3 following closing of the transaction. Saint-Gobain will finance the acquisition through cash on its balance sheet. Significant synergy opportunities are estimated at c. US$30 million by year 3 following the closing of the operation, including cost synergies of c. US$23 million which are expected to be captured through the reduction of SG&A, economies of scale in procurement, and manufacturing and logistics cost optimization.

Benoit Bazin, Chief Executive Officer of Saint-Gobain, commented:

“The acquisition of Kaycan is an excellent step for Saint-Gobain and I am very enthusiastic to warmly welcome the Kaycan teams into the Group. Not only does this acquisition allow us to strengthen our presence in siding both in Canada and in the United States, but it also allows us to broaden our offering into the exciting growth areas of aluminum and engineered wood siding, largely made with recycled materials and thus helping to drive the circular economy ecosystem in construction. It is perfectly aligned with the “Grow & Impact” strategy announced at our Capital Markets Day and reinforces our position in North America and as the worldwide leader in light and sustainable construction. It will create significant value for shareholders, enhance the profitable growth outlook of the Group, enrich our solutions for customers and provide attractive development opportunities for the Kaycan and Saint-Gobain teams.”

Lionel Dubrofsky, President of Kaycan, commented:

“Today marks the beginning of an exciting new chapter of Kaycan’s history. Ever since my family founded Kaycan in 1974, our team has been laser-focused on providing the best customer service possible throughout Canada and the United States, all while pushing the boundaries of imagination and innovation to expand our product portfolio over the past decades. Now we have the opportunity to join Saint-Gobain, a renowned leader in light and sustainable construction. We are filled with gratitude for our team’s hard work over the past 48 years, and we’re thrilled to see what comes next for our combined companies.”

The planned acquisition of Kaycan follows several other North American growth investments announced by Saint-Gobain in recent months:

• In May, Saint-Gobain announced a $100 Million expansion of its CertainTeed roofing facility in Peachtree City, Georgia, more than doubling the site’s production capacity while also reducing its carbon dioxide emissions.
• Also in May, the company announced a $28 Million investment in its ADFORS technical textile products facility in Dublin, Georgia, creating 400 jobs over the next two years.
• In April, Saint-Gobain announced it was doubling the manufacturing footprint of its CertainTeed Architectural manufacturing site in Lakewood, Ohio by moving to a new, state-of-the-art location in nearby Strongsville, Ohio.
• Also in April, Saint-Gobain announced a $118 Million expansion of its CertainTeed roofing plant in Oxford, North Carolina, adding an additional 225,000 square feet of manufacturing space to what was already one of the largest roofing shingle manufacturing sites in North America.
• In February, the company invested $32 Million in its CertainTeed insulation manufacturing site in Chowchilla, California, increasing the location’s production capacity by 13% while also reducing its carbon footprint.
• In December, Saint-Gobain announced its intent to purchase construction chemicals manufacturer GCP Applied Technologies for $2.3 Billion.

About CertainTeed

Through the responsible development of innovative and sustainable building products, CertainTeed, headquartered in Malvern, Pennsylvania, has helped shape the building products industry for more than 115 years. Founded in 1904 as General Roofing Manufacturing Company, the firm’s slogan “Quality Made Certain, Satisfaction Guaranteed,” inspired the name CertainTeed. Today, CertainTeed is a leading North American brand of exterior and interior building products, including roofing, siding, solar, fence, railing, trim, insulation, drywall and ceilings. www.certainteed.com.

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME.”

€44.2 billion in sales in 2021

166,000 employees, located in 75 countries

Committed to achieving Carbon Neutrality by 2050

For more details on Saint-Gobain, visit http://www.saint-gobain.com and follow us on Twitter @saintgobain.

¹ 2021-2022E = fiscal year starting August 1, 2021 and ending July 31^st, 2022

Contacts

David Rosen

Saint-Gobain Corporate Communications

Media@saint-gobain.com

Nobul recognized for the world’s only open digital consumer-centric marketplace connecting home buyers and sellers to the best real estate agent for them

HOUSTON & TORONTO–(BUSINESS WIRE)–#Nobul–Nobul Technologies (www.nobul.com), a consumer-centric real estate technology company connecting home buyers and sellers to the right real estate agents that meet their needs, is proud to announce today that it has been named the winner of a Gold Stevie® Award in the Mobile Web & App – Real Estate category in The 20th Annual American Business Awards®. The American Business Awards are the United States’ premier business awards program. All organizations operating in the US are eligible to submit nominations. Nobul was honored for its Open Digital Real Estate Marketplace, where buyers and sellers review criteria and data that help them choose the right real estate agent for them, while agents compete for their business in real time. To date, Nobul has achieved billions of dollars in sales across more than 100 markets throughout North America, including Canada, Florida, Georgia and Texas.

“We’re honored to receive this recognition from the ABA,” said Regan McGee, Founder, Chairman and CEO of Nobul. “It’s further validation that our marketplace is both revolutionary and evolutionary. Consumers have grown accustomed to online marketplaces, price and product comparison tools, and professional and consumer reviews to make purchases. Nobul is the next logical step in this evolution when it comes to real estate.”

Nobul saves home buyers and sellers the hassle of trying to find a real estate agent by providing easy access to verified reviews, track records, transaction history, services offered, and commission rate comparisons, which allows consumers to choose the agent that best fits their needs. The platform also provides prospective buyers with curated property listings.

“We congratulate Nobul on being named a Gold Stevie Award winner,” said Maggie Miller, president of the Stevie Awards. “The Open Digital Real Estate Marketplace addresses a critical need in the real estate space and is an interesting concept that will empower buyers and sellers and increase healthy competition and transparency among agents.”

ABOUT NOBUL

Nobul Technologies (www.nobul.com) is the world’s only open digital consumer-centric marketplace connecting home buyers and sellers to the best real estate agent for them. Nobul’s platform enables buyers and sellers to easily access real estate agents’ transaction histories, pricing, services offered, and genuine reviews from people who have actually used them. The platform brings transparency, choice, accountability and simplicity to the real estate industry through powerful innovative technology supported by real people who truly care. To date, Nobul has achieved billions of dollars in sales across more than 100 markets throughout North America, including Canada, Texas, Florida, and Georgia. The company has won many prestigious awards including the CNBC Upstart 100 Award and has crossed over $5,000,000,000 (five billion dollars) in completed sales, since its inception. For more information on Nobul, visit www.nobul.com.

Contacts

Nicole Rodrigues

NRPR Group

nicole@nrprgroup.com

TORONTO–(BUSINESS WIRE)–Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company“) a leader in smart buildings and cities through IoT, Cloud and SaaS technology, is pleased to announce that it has been selected by a leading Canadian University, (the “University”) following a competitive process, to provide detailed energy assessments and a carbon reduction roadmap with completion in June, 2022. The University Campus market is new vertical opportunity for the Company as it seeks to expand its energy management and carbon reduction solutions.

“Universities across North America are leading the movement to greater sustainability and net zero emissions,” says Paul Ghezzi, CEO of Kontrol Technologies. “We are pleased to be able to add a new customer and a new market vertical to our expanding platform.”

The University has set a sustainability goal of Net Zero by 2040. In addition to providing energy assessments over 32 buildings and 2.5 million square feet of real estate, across the University campus, Kontrol will provide real-time monitoring under its SmartSite platform in various buildings.

About Kontrol SmartSite

Kontrol SmartSite (“SmartSite”) is a unified technology interface which can communicate with legacy building automation systems. Through a proprietary gateway, SmartSite collects data from existing sensors and equipment, monitors performance and provides real-time adjustments to operate a more efficient building. SmartSite operates as a Cloud based technology and can be integrated with existing building legacy systems. For non-disclosure purposes the name and location of the University remains confidential.

About Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com.

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may,” “will,” “expect,” “likely,” “should,” “would,” “plan,” “anticipate,” “intend,” “potential,” “proposed,” “estimate,” “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking information contained in this press releases includes, but is not limited to, the following: future Carbon solutions to be offered by Kontrol for its potential customers; future goal of monetizing carbon credits; the anticipated timing of the installation of and energy savings that SmartSite will provide for the University customer; the future success of any of Kontrol’s products; and customer demand relating to energy management.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company; that future Carbon solutions can be conducted as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; that the anticipated timing of the installation of and energy saving relating to the SmartSite will go as planned for the University customer; and that demand will continue for energy management products and for the Company’s products in particular.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that the Company’s technologies will not prove as effective as expected; that customers and potential customers will not be as accepting of the Company’s product and service offerings as expected and/or that demand for such products and services will not continue; that Kontrol SmartSite will not be replicated in the future and that the Company will not maintain its existing relationships or contracts on the same terms or at all.

Contacts

Kontrol Technologies Corp.
Paul Ghezzi

CEO

info@kontrolcorp.com
Tel: (905) 766.0400

CALGARY, Alberta–(BUSINESS WIRE)–Zenbase, a leader in flexible rent payments, today announced that it has secured $4.1 million in seed funding led by Global Founders Capital. With this seed round, Zenbase will expand beyond Alberta, Manitoba, and Saskatchewan into Ontario, British Columbia and the Maritimes.

Zenbase enables the most flexible rent payments ever and delivers rent day bliss on the first of the month by allowing residents to split their monthly rent payments. They can pay on a personalized rent payment schedule reducing their financial stress and improving resident satisfaction. Zenbase partners with property management companies to increase on-time rent collections and eliminate operational overhead.

Global Founders Capital (GNC) led the funding with other investors contributing, including Garage Capital and N49P.

Since Zenbase launched, it has saved more than $700 at an annualized rate per resident by having them avoid overdraft and late fees. In addition to the rent product, more than 40% of Zenbase members have also used its fee-free cash advance service to cover utilities, groceries and gas.

Koray Can Oztekin, CEO and Founder of Zenbase, said: “It’s expensive to be poor with late rent payments costing a resident as high as $150 each time. We are leveling the playing field by giving Canadians the flexibility that they need without getting penalized. We pay a resident’s rent in full on the first of the month, eliminating late rent payments for property managers. The resident then has 30 days to complete their rent payments with us and can align them with their paydays if they like. It’s a win:win for the residents and property managers.”

Alexander Mcisaac, Partner, Global Founders Capital, said: “More than 50% of Canadians are living paycheck to paycheck and housing stability is crucial for them to achieve financial health. Zenbase delivers financial solutions to these communities helping tenants save money and increase financial security. Following a nationwide increase in the cost of living and rent hikes, their platform is more needed than ever.”

About Zenbase

Zenbase, a leader in flexible rent payments, is committed to economic inclusion that fosters financial empowerment for renters. Our solutions improve the financial wellness of renters while improving operational efficiency for property managers. Rent is usually due on the 1st of the month but that doesn’t align with most people’s bi-monthly pay cycle. We’ve fixed that misalignment and provide other financial tools to help level the playing field. Learn more: https://myzenbase.com/

Contacts

Zenbase Press:

Philipp Postehovsky

philipp@myzenbase.com
604-657-2775