Tree Island Completes Renewal of its Banking Facility

VANCOUVER, BRITISH COLUMBIA — June 26, 2026 – Tree Island Steel Ltd. (the “Company” or “Tree
Island”) (TSX:TSL) announced today, that it has successfully renewed its senior banking facility with
current lender Wells Fargo Capital Finance Corporation Canada (“Wells Fargo”).
Under the terms of the Facility, interest is charged at variable rates based on the applicable Canadian
and US benchmark interbank rate. For the revolving facility, up to $30 million may be borrowed in
Canadian and/or US dollars, less certain reserves. In addition, up to $10 million may be borrowed as
term debt, in Canadian and/or US dollars.
The Facility is secured by a first charge over Company’s assets supported by guarantees and pledges
and requires that certain covenants be met by Tree Island.
“We value Wells Fargo’s longstanding partnership and appreciate their continued support in helping
address our evolving financial requirements,” said Nancy Davies, Chief Operating Officer of Tree Island
Steel.