Maple Rock Capital Partners Reports 15.1% Stake in Algoma Steel Group Inc.

On May 15, 2026, Maple Rock Capital Partners Inc. filed a Schedule 13G/A regarding its holdings in Algoma Steel Group Inc. (ASTL). The filing indicates that as of March 31, 2026, the reporting persons—Maple Rock Capital Partners Inc. and its Chief Investment Officer, Xavier Majic—beneficially own 15,930,818 common shares. This represents a 15.1% ownership stake based on 105,388,619 shares outstanding. The filing marks a significant increase from the previously reported 0.0% ownership, reflecting a substantial acquisition of shares. Maple Rock Capital Partners Inc., a Canadian-based investment advisor, holds sole voting and dispositive power over the reported shares. The securities are held in the ordinary course of business by the Maple Rock Master Fund LP, and the reporting persons have certified that the acquisition was not intended to influence or change the control of the issuer. The joint filing agreement confirms that both Maple Rock and Mr. Majic are filing collectively but disclaim membership in a formal group.