Tree Island Steel Announces Quarterly Dividend

VANCOUVER, British Columbia, Canada – December 15, 2023 – Tree Island Steel Ltd. (“Tree Island” or
the “Company”) (TSX:TSL) is pleased to announce that its Board of Directors has declared a quarterly
dividend of $0.03 per share, on the issued and outstanding Common Shares of the Company, payable on
January 15, 2024, to shareholders of record at the close of business on December 29, 2023.