Summary：Tree Island Secures Future with Major Banking Facility Renewal DealVANCOUVER, British Columbia, June

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Tree Island Secures Future with Major Banking Facility Renewal Deal

VANCOUVER, British Columbia, June 26, 2026 (GLOBE NEWSWIRE) - Tree Island Steel Ltd. (the “Company” or “Tree Island”) (TSX:TSL) announced today that it has successfully renewed its senior banking facility with its current lender, Wells Fargo Capital Finance Corp. This significant development underscores the Company's robust financial health and strategic growth prospects.

The renewed banking facility is a testament to Tree Island's enduring stability and its ability to navigate the complexities of the steel industry. The deal not only reaffirms the confidence of Wells Fargo Capital Finance Corp in Tree Island's business model but also positions the Company for enhanced operational flexibility and strategic maneuverability. With this renewal, Tree Island has secured a vital financial lifeline that will enable it to pursue its growth objectives with renewed vigor.

Industry analysts view this development as a positive indicator for Tree Island's future prospects. The steel industry has been characterized by fluctuating demand and supply chain disruptions in recent years. However, Tree Island's successful renewal of its banking facility demonstrates its resilience and adaptability in a challenging market environment. The Company's ability to maintain a strong banking partnership is crucial in an industry where capital expenditure and working capital management are critical.

Looking ahead, Tree Island is poised to capitalize on emerging opportunities in the North American steel market. The renewed banking facility will provide the necessary financial backing for the Company to invest in strategic initiatives, enhance its product offerings, and expand its market presence. As the steel industry continues to evolve, Tree Island's strengthened financial position will enable it to navigate market fluctuations and drive long-term growth.

In conclusion, Tree Island's successful renewal of its senior banking facility is a significant milestone that underscores the Company's financial stability and growth potential. With a renewed banking partnership in place, Tree Island is well-positioned to seize emerging opportunities and drive value creation for its stakeholders. As the Company moves forward, its commitment to strategic growth and operational excellence is expected to yield positive outcomes for investors and customers alike.