Tree Island Announces Meeting Results for Election of Directors

VANCOUVER, British Columbia, Canada – May 5, 2023 – Tree Island Steel Ltd. (“Tree Island” or the “Company”) (TSX:TSL) announced that all matters put forward for consideration at its 2023 Annual General Meeting of Shareholders (the “Meeting”) received requisite shareholder approval. Results of the voting for the director elections at the Meeting are described below, and additional information regarding the full results of all matters voted on at the Meeting may be found in the Company’s filing on SEDAR.

Board of Directors

All nominees listed in the management proxy circular for the Meeting were elected as directors of Tree Island. The six director nominees proposed by management were elected by a show of hands. In total 19,067,712 shares were represented in person or by proxy at the meeting, representing approximately 67.53% of the outstanding shares as of the record date of March 16, 2023. Detailed results of the votes received by proxy for the election of directors held at the Meeting are set out below: