Tree Island Steel Announces Third Quarter 2025 Results

VANCOUVER, British Columbia, Canada – November 13, 2025 – Tree Island Steel (”Tree Island” or the ”Company”) (TSX: TSL) announced today its financial results for the nine months ended September 30, 2025.

For the three-months ended September 30, 2025, revenues, net of freight and distribution costs, were lower by $14.8 million to $36.8 million from $51.6 million in 2024. This was due to the impact of the U.S. tariffs on Canada to U.S. sales of wire and wire products which was partially mitigated by increased sales within Canada. Average selling prices in certain categories were higher, however, gross profit was lower by $0.3 million compared to prior year due to lower production volumes. Through higher average selling prices in certain categories, head count and cost reductions, adjusted EBITDA improved to $0.2 million compared to $6 thousand in same period last year.

For the nine months ended September 30, 2025, revenues, net of freight and distribution, were lower by $32.8 million to $129.4 million from $162.2 million in 2024, mainly due to reduced U.S. sales volumes caused by tariffs and a strategic withdrawal from unprofitable products. Through cost management, gross margins are consistent with prior year; however, gross profits were lower by $1.9 million, and adjusted EBITDA was lower by $1.5 million due to lower production levels.

“We continue to navigate the challenges posed by U.S. tariffs on commodity galvanized wire,” commented Nancy Davies, Chief Operating Officer of Tree Island Steel.