TSL Tree Island Steel Ltd

Tree Island Steel Ltd. (“Tree Island” or the “Company”) (TSX:TSL) announced today that its operating company, Tree Island Industries Ltd. and Teamsters Local Union No. 213 have successfully concluded a new five-year collective agreement. The agreement, which covers hourly production employees at the Richmond, BC manufacturing facility, was ratified on October 14, 2020, and provides continued stability for our customers, employees, suppliers and other stakeholders.

“We are very pleased to have achieved a long-term agreement in partnership with the Teamsters, and we wish to thank the bargaining unit and its members for their ongoing engagement and commitment in supporting the sustained growth of Tree Island as a premier supplier of wire and wire products,” said Remy Stachowiak, President and COO of Tree Island Steel.

About Tree Island Steel

Tree Island Steel, headquartered in Richmond, British Columbia, since 1964, through its four operating facilities in Canada and the United States, produces wire products for a diverse range of industrial, residential construction, commercial construction and agricultural applications. Its products include galvanized wire, bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products. The Company markets these products under the Tree Island®, Halsteel®, K-Lath®, TI Wire®, Tough Strand® and ToughPanel™ brand names.

For more information, please contact:

Ali MahdaviInvestor Relations & Capital Markets(416) 962-3300email: amahdavi@treeisland.comWebsite: www.treeisland.com