This new collaboration comes at a time of historic defence investment by the Government of Canada and aligns with the new Defence Industrial Strategy’s emphasis on strengthening sovereign industrial capabilities and Buy Canadian policies across major procurements. It also responds to the growing need for international defence companies to partner with a local, end-to-end supplier and service provider when operating in Canada.

By advancing a made-in-Canada approach to critical defence inputs, Roshel Algoma Defence will enable new, sovereign production of ballistic steel solutions to support defence procurements, including for Light Utility Vehicles (LUVs), the Domestic Arctic Mobility Enhancement (DAME) program, ships, submarines, and broader Canadian Defence needs. Additionally, Roshel Algoma Defence will support the use of ballistic steel across other industries, including infrastructure, marine, aerospace and security platforms while creating opportunities to export Canadian-made ballistic steel solutions to allied countries.

“Algoma Steel is ready to enhance Canada’s defence capacity, starting now. This partnership with Roshel puts our production capabilities, our workforce, and our Sault Ste. Marie facilities directly in service of Canada’s national security. Buy Canadian isn’t just a policy for us, it’s a strategy and a commitment to hundreds of good jobs.” — Rajat Marwah, CEO, Algoma Steel.

Roman Shimonov, the CEO of Roshel said, “Canada’s Light Utility Vehicle (LUV) procurement, which is expected to deliver thousands of vehicles for the Canadian Armed Forces, represents a cornerstone opportunity for Roshel, as a Canadian armoured vehicle manufacturer of combat proven platforms with a strong operational track record, to strategically partner with the Government of Canada to deliver a fully domestic solution using Canadian ballistic steel produced in Ontario.”

RADS is well-positioned to support over 500 workers, including new, high-quality manufacturing jobs and strengthening Canada’s skilled industrial workforce for the long term, reinforcing broader domestic supply chains, including those supporting automotive manufacturing such as Ford Motor Company and F-Series production in Oakville. Together, Roshel and Algoma Steel are advancing a made-in-Canada solution that will drive economic growth, reinforce national security, and deliver lasting benefits to Canadian workers, industry, and communities.

Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding the establishment of Roshel Algoma Defence and a Canadian Centre of Excellence for Ballistic Steel Production and the anticipated benefits thereof, Algoma’s transition to EAF steelmaking, the Company’s expected reduction in carbon emissions following completion of the EAF project, Algoma’s future as a leading producer of green steel, Algoma’s modernization of its plate mill facilities, transformation journey, ability to deliver greater and long-term value, ability to offer North America a secure steel supply and a sustainable future, and investment in its people, and processes, and statements regarding the Company’s strategy, plans or future financial or operating performance. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “hope,” “strategy,” “future,” “opportunity,” “plan,” “design,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. Readers should also consider the other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Information” in Algoma’s Annual Information Form, filed by Algoma with applicable Canadian securities regulatory authorities (available under the Company’s SEDAR+ profile at www.sedarplus.com) and with the SEC, as part of Algoma’s Annual Report on Form 40-F (available at www.sec.gov), as well as in Algoma’s current reports with the Canadian securities regulatory authorities and the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

About Roshel Inc.
Roshel Inc. is a Canadian manufacturer of advanced armoured vehicles, with headquarters in Brampton, Ontario, specializing in the design, production, and support of platforms for government, security, and commercial applications. The company supplies Canada, allied nations, and NATO partners, with its vehicles operating in some of the world’s most demanding environments and consistently meeting the highest standards of protection and performance. Roshel is committed to operational excellence, responsible business practices, and community engagement, supporting both its customers and the communities in which it operates.

About Algoma Steel Inc.
Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defense, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada.

With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada. Powered by Ontario’s clean electricity grid, this transformation represents one of the largest industrial decarbonization initiatives in North America and is expected to reduce carbon emissions by approximately 70%. These advancements provide stability for continued investment in diversification projects aligned with Canada’s evolving needs.

This new chapter also introduces Volta™, the brand for all steel produced through Algoma’s EAF technology. Volta delivers the same trusted performance customers rely on, with significantly lower emissions—produced safely, sustainably, and proudly in Canada.

Building on more than a century of steelmaking expertise, Algoma continues to invest in its people, processes, and technologies to strengthen domestic supply chains and deliver responsible, Canadian-made steel that helps build a better tomorrow.

For media inquiries, please contact:

Roshel Smart Armoured Vehicles
info@roshel.com

Algoma Steel
Laura Devoni
Vice President of Human Resources and Corporate Affairs
communications@algoma.com
705-255-1202

During the visit, Minister McGuinty toured Roshel’s production operations, gaining insight into the company’s armored vehicle platforms, manufacturing processes, and its role in supporting both domestic and international defence programs. This includes contributions to key Canadian initiatives such as the Light Utility Vehicle (LUV) and Domestic Armoured Mobility Enhancement (DAME) programs, alongside ongoing support to allied nations.

From highly skilled jobs here at home in Brampton to operational capabilities deployed globally, Roshel’s work demonstrates how investment in Canadian manufacturing directly strengthens both national security and international partnerships.

As part of Canada’s continued support for Ukraine, the Government of Canada is donating 383 Roshel Senator armoured vehicles. These vehicles are built in Canada using Canadian technology and Canadian labour, reinforcing the strength, resilience, and scalability of the country’s industrial base.

The Roshel Armored Bronco represents a new generation of tactical vehicles that deliver full 360 degree ballistic and blast protection while maintaining the vehicle’s original design, ergonomics, and driving performance. The entire cabin is armored using lightweight composite materials instead of traditional steel, a breakthrough that provides high level protection without compromising agility or comfort.

This advanced armor technology can be configured up to CEN BR6 protection level, capable of stopping 7.62×51 mm NATO, 5.56×45 mm, and 7.62×39 mm AP rounds, while also protecting against the simultaneous detonation of two DM51 hand grenades underneath the vehicle. Despite the added protection, the Bronco retains all factory safety features, including airbags, sensors, and electronic systems, and remains fully compliant with Ford engineering standards.

The vehicle is offered with a comprehensive law enforcement package including emergency strobe lights, sirens, radio communication equipment, a heavy duty bumper with integrated winch, a remotely controlled searchlight, and an onboard police computer. The Bronco can also be equipped with a tethered drone system for surveillance and reconnaissance operations to enhance situational awareness while reducing the need for officers to exit the vehicle.

As an optional configuration the vehicle can be fitted with a secure rear custody compartment designed for safe and humane transport of detained persons. This compartment is integrated to maintain occupant protection, ventilation, and officer visibility while preserving overall vehicle performance.

Roshel’s engineering approach preserves the vehicle’s original performance characteristics and simplifies maintenance and serviceability over the lifecycle of the vehicle.

“Our mission was to create a next generation law enforcement platform that delivers safety and versatility without compromising performance,” said Roman Shimonov, CEO of Roshel. 

Brion Gopigian, Ford Pro Global Business Development, added: “The Bronco is ideal for a wide range of applications and environments, including severe off-road tactical operations, search and rescue, border security, rural and urban patrol, combining mobility, protection, and technology in a single, integrated package.”  

The Roshel Armored Ford Bronco will be unveiled and exhibited at the Ford booth during IACP 2025 in Denver on October 19, where law enforcement leaders will be able to see the vehicle firsthand.

The highlights of the exhibition are the Jeep® Wagoneer, fully designed and engineered by Roshel in collaboration with Stellantis and the armored commercial Senator MRAP (Mine Resistant Ambush Protected), built on the Ram 5500 Chassis Cab. 

“For us, it is crucial to leverage all the advantages of our North American presence,” said Roman Shimonov, CEO of Roshel. “Many of the components are sourced in North America, and final assembly is completed at our facilities in the United States. This way, we take the very best of each region and deliver combat-proven solutions in collaboration with leading OEM manufacturers.”

“Protecting first responders who ultimately protect all of us is critical and Stellantis vehicles are best suited to deliver on that promise,” said Ryan Austin, Stellantis law enforcement program manager. “We serve all our customers with safety in mind.” 

Strategic Collaboration

Through this collaboration, Roshel and Stellantis can offer a broad portfolio of platforms tailored to the evolving needs of U.S. and international markets. Customers benefit from comprehensive after-sales support provided through Stellantis’ global service and logistics network, while the combination of Roshel’s advanced armor technologies and Stellantis’ OEM platforms ensures vehicles that are both highly protected and operationally efficient. This expanded product range makes it possible to serve a wide spectrum of missions, from discreet diplomatic transport to fully combat-proven tactical operations. 

Roshel invites attendees to visit its booth at IACP 2025 in Denver to see the new vehicles first-hand and discuss customized solutions with their technical and business development teams.

“We are delighted to be bringing advanced manufacturing in Canada, which will leverage Canadian mined iron ore, and our domestic steel production to produce ballistic steel,” stated Roman Shimonov, CEO of Roshel.

“This is an excellent, new collaboration between Sweden and Canada. We are keen to advance bilateral cooperation, such as this project,” added Hans Bergman, Chairman of the Board of Swebor.

The signing took place in the presence of the Honourable Mélanie Joly, Minister of Innovation, Science and Industry of Canada, underscoring the Government of Canada’s strong support for this partnership, which will leverage Swedish expertise and Canadian natural resources and production capacity to address a significant production gap in terms of strategic industrial capability, sovereignty, and national defence readiness.

The project will create high-value, skilled jobs, introduce advanced manufacturing technologies, and provide significant economic benefits to Canada’s industrial sector. By establishing a new segment within the steel manufacturing industry, it will foster long-term employment, support supplier networks, and encourage innovation across related industries.

Although other forms of steel manufacturing exist in Canada, this project will be the first fully dedicated to ballistic-grade production. It combines advanced technologies, strict quality standards, and strategic importance for the national defence industrial base. Intellectual property for the new facility will be jointly held by Roshel and Swebor, ensuring shared innovation and long-term collaboration.

Roman Shimonov, CEO of Roshel, said:

This project goes beyond steel – it is about establishing industrial sovereignty. By bringing ballistic steel production to Canada, we are reducing a critical dependency, protecting our supply chain, and laying the groundwork for long-term resilience in the defence and manufacturing sectors. Roshel is actively engaged in several programs within the armoured vehicle industry, including domestic initiatives like the Light Utility Vehicle (LUV) program and Defence Arctic Mobility Enhancement (DAME) program, as well as various international contracts, all of which require substantial volumes of ballistic steel. With this new capability, we will be able to increase Canadian content in our platforms and generate additional value in meeting Industrial and Technological Benefits (ITB) commitments for our clients.

Hans Bergman, Chairman of the Board of Swebor, said:

Our partnership with Roshel demonstrates a shared commitment to innovation and self-reliance. This facility will not only meet Canada’s strategic needs but also exemplify how allied nations can collaborate to enhance their industrial capabilities.

The Honourable Mélanie Joly, Minister of Innovation, Science and Industry of Canada, said:

This new partnership between Roshel and Swebor to produce ballistic-grade steel showcases Canada’s world-renowned capabilities—from mined iron ore to domestic steel production to advanced manufacturing. It’s creating good-paying jobs and reinforcing our economic security. At this pivotal moment of global transformation, we’re working hand-in-hand with industry and European partners to build a stronger, more resilient economy.

The Honourable Stephen Fuhr, secretary of State (Defence Procurement), said:

As Canada looks to reinvigorate our domestic defence industry, this landmark international partnership will allow Canadian steel to be used as a key component in advanced defence manufacturing. By combining Canadian natural resources with Swedish expertise, this initiative will secure our supply chains, create good-paying jobs for Canadians, and drive innovation across the broader defence and industrial sectors.

A Global First for Complete In-House Production

This capability will position Roshel as the first armoured vehicle manufacturer in the world to control the entire production cycle in-house, from the creation of ballistic-gradesteel through design and engineering to manufacturing, metal fabrication, final assembly, and delivery. Full ownership of every stage ensures unmatched quality control, rapid production scaling, and complete independence from vulnerable supply chains. In a sector where precision, durability, and timeliness are critical, this vertical integration provides Roshel with a strategic advantage and the agility to respond to urgent operational demands.

Technical Excellence and Market Reach

The facility will be constructed as a state-of-the-art ballistic steel production plant, capable of manufacturing a wide variety of steel grades with different thicknesses, hardness levels, and ballistic resistance properties, including quenched and tempered plates, high-hardness armour steel, and specialised alloys for extreme performance. Production will incorporate advanced heat treatment cycles, precise rolling and forming, and rigorous quality assurance testing in accordance with NATO STANAG and other international standards. Both companies will contribute their technical expertise, proprietary processes, and resources to develop a versatile manufacturing capability that can cater to both domestic and international markets. Output will target not only the defence sector but also key industries such as agriculture, mining, and heavy equipment manufacturing, ensuring broad strategic and commercial impact.

This milestone builds on our established relationship with Ford, developed through years of cooperation across defense, law enforcement, and commercial platforms. Participation in the FPU program enhances our ability to provide factory-aligned vehicle solutions. This is particularly important for our clients who rely on dependable performance, consistent quality, and rapid readiness.

Moldova continues to strengthen its internal security and resilience in the face of growing regional instability. This marks our first delivery to Moldova but certainly not the last.

We remain committed to supporting Moldova and working with international partners to deliver advanced capabilities where they are most needed.

The vehicle integrates Leonardo’s Falcon Shield, a fielded and operationally validated counter-unmanned aerial system. The platform offers comprehensive detection, tracking, and neutralization capabilities against a wide spectrum of drone threats — including commercial, improvised, and military-grade UAS.

Designed and built entirely in Canada, the Senator Counter-UAS is engineered for rapid deployment across a range of defence and security scenarios. Its modular architecture and mobility ensure effectiveness in both static and convoy protection missions, with NATO interoperability built into its core systems.

This collaboration combines Roshel’s expertise in survivable tactical vehicles with Leonardo’s leadership in electronic warfare and air defence technologies. The result is a robust, NATO-compatible solution that meets the needs of Canadian and allied forces operating in contested and dynamic environments.

Roshel’s unveiling at CANSEC 2025 underscores its continued commitment to advancing Canada’s defence industrial base and delivering operational capabilities aligned with national and allied mission priorities.

A key highlight of this year’s showcase was the unveiling of the Senator Counter-UAS system, developed in collaboration with Leonardo. The system demonstrates Roshel’s expanding capabilities in integrated threat response and layered defence, aligning with emerging operational needs across both military and law enforcement domains.

Roshel held productive engagements with Canadian Armed Forces representatives, international delegations, and key industry partners. These discussions underscored the need for continued innovation, rapid capability deployment, and cross-sector collaboration to address today’s evolving threat environment.

The company also highlighted its commitment to supporting the operational readiness of Canada’s security forces, with platforms built for performance, adaptability, and end-user integration. Ongoing dialogue with stakeholders reflects growing interest in Roshel’s modular design approach and its ability to respond to real-time mission requirements.

Roshel thanks its partners, customers, and all attendees for their engagement and support throughout CANSEC 2025. The event affirmed the company’s position as a critical contributor to national and allied defence capabilities.