Cleveland Cavaliers and Cleveland-Cliffs expand partnership, announce Cliffs jersey patch on Cavs jersey :: Cleveland-Cliffs Inc. (CLF)

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Multi-year deal begins for 2022-23 NBA season

CLEVELAND–(BUSINESS WIRE)–

The Cleveland Cavaliers of the NBA and Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”), North America’s largest producer of flat-rolled steel, today announced an extension to its existing multi-year marketing agreement to feature the Cliffs logo on Cavs player uniforms beginning in the 2022-23 season. The announcement was made today inside the Cliffs entrance to Rocket Mortgage FieldHouse in downtown Cleveland.

Since 1847, Cliffs has been headquartered in Cleveland and operates in the Great Lakes region. The company’s headquarters are located downtown, less than half a mile from the Cavaliers’ home, Rocket Mortgage FieldHouse. They have a long-standing relationship with the team and are entitled to one of the Marquee’s northern entry points into the glass atrium of the newly transformed and fully upgraded FieldHouse. Cliffs is also the only steel company to have a jersey patch partnership within the NBA.

“Cliffs has been an anchor for Cleveland and the Great Lakes region for 175 years. We share tremendous pride and love for this region and are committed to making a positive impact on the people who live and work here,” said Len Komoroski, CEO of Cavaliers and Rocket Mortgage FieldHouse. “Although our respective roles in the community are very different from one another, Cliffs and the Cavs are considered part of the ‘fabric of life’ here in Northeast Ohio. It is now very appropriate and relevant that Cliffs is depicted, literally, on the fabric of Cavs players’ jerseys.

Lourenco Goncalves, Chairman and CEO of Cleveland-Cliffs, said, “Cleveland-Cliffs is proud of its partnership with the Cavaliers and the NBA, for our employees, their families, their communities and the entire Great Lakes region. The Cavs stand out as a unique and authentic showcase of the importance of teamwork with its talented players, coaching staff and management team coming together strategically to win. Cleveland-Cliffs is no different. We are made by our 26,000 employees. These people, located throughout the Great Lakes region, are talented and dedicated, working together to execute a well-thought-out strategy to produce a vital material, steel, which is woven into the fabric of everyday modern life. The strength of this Cliffs-Cavs partnership lies in our shared culture of teamwork, family and community, which is fundamental to our continued success. The journey together will be rewarding, and victory is for the whole team.

Cavaliers All-Star point guard Darius Garland attended the press conference along with President of Basketball Operations Koby Altman and Head Coach JB Bickerstaff. Garland hails from the Great Lakes region of Gary, Indiana, which sits in the heart of two of the largest steel operations in Cleveland-Cliffs in northwest Indiana. Both of Garland’s grandparents worked in the steel industry.

“I will be very proud to wear the Cleveland-Cliffs logo on my jersey starting next season,” Garland said. “Being from Gary, Indiana, I know firsthand how important Cliffs and steel are to communities here in Cleveland and our area. Every time I put on this jersey and see the Cliffs crest on my chest, I will remember these people and be motivated by the hardworking mentality they bring every day.

Cliffs also announced Tuesday that the partnership will bring a very special community benefit to Boys and Girls Clubs in all communities in which Cleveland-Cliffs operates. The Cleveland-Cliffs Foundation is proud to commit $500,000 in new funding to clubs serving in or near host communities. Regional clubs will be invited to apply for grants to support capital expenditures and programs that encourage healthy lifestyles. The Cleveland-Cliffs Foundation’s announcement aligns with the company’s commitment to having a positive impact in the areas where it operates. Funding will be awarded on a competitive basis later this year.

ABOUT THE CLEVELAND RIDERS

The Cleveland Cavaliers won the NBA championship in 2016 while winning the Eastern Conference crown in 2007, 2015, 2016, 2017, and 2018. The team also plays and operates the newly transformed, publicly owned Rocket Mortgage FieldHouse, in downtown Cleveland, Ohio. The Cavaliers and Rocket Mortgage FieldHouse are part of the Rock Entertainment Group. The group also includes the Cleveland Monsters of the AHL, the Cleveland Charge of the NBA G League, the Cavs Legion of the NBA 2K League, the Legion Lair Lit by TCP, home of the Cavs Legion in Cleveland, and the Cleveland Clinic Courts – the formation and formation of the Cavaliers. development center in Independence, Ohio. The Cavaliers are regularly recognized for their extensive community support and engagement programs and contributions, leadership in workplace diversity and inclusion, and ongoing economic impact that now amounts to billions of dollars locally . Dan Gilbert is president of the Cleveland Cavaliers. Gilbert and his family of companies have now invested over $2.0 billion in Cleveland. Gilbert is also Founder and Chairman of Rocket Mortgage, the nation’s largest mortgage lender, and Founder and Chairman of Rock Ventures LLC, the apex entity for his business and real estate investment portfolio. Len Komoroski is the CEO of Rock Entertainment Group and Nic Barlage is the President and Chief Operating Officer of Rock Entertainment Group. The Cavaliers team is led by president of basketball operations Koby Altman, general manager Mike Gansey and head coach JB Bickerstaff. The Cavaliers and Rocket Mortgage FieldHouse provide fans with the best NBA experience with its expansive and amazing array of equipment and technology and electrifying game presentation.

ABOUT CLEVELAND-CLIFFS INC.

Cleveland-Cliffs is the largest producer of flat-rolled steel in North America. Founded in 1847 as a mining operator, Cliffs is also the largest manufacturer of iron ore pellets in North America. The company is vertically integrated from mined raw materials, direct reduced iron and scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. We are the largest supplier of steel to the automotive industry in North America and serve a wide range of other markets with our comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 26,000 people in its operations in the United States and Canada.

CLEVELAND-CLIFFS

MEDIA CONTACT:

Patricia Persico

Senior Director, Corporate Communications

(216) 694-5316

INVESTOR CONTACT:

James Kerr

Manager, Investor Relations

(216) 694-7719

THE CLEVELAND RIDERS

MEDIA CONTACT:

Zack Yohman

Director of Business and Strategic Communications

[email protected]

Source: Cleveland Cliffs Inc.

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