Tree Island Steel Announces Quarterly Dividend

VANCOUVER, British Columbia, Canada – June 12, 2024 – 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 July 15,
2024, to shareholders of record at the close of business on June 28, 2024.