Cargill Appoints S & R Material Advisors as Exclusive Agent for Its Metals Business in the US/Canada

NEWS RELEASE

FOR IMMEDIATE RELEASE

Cargill Appoints Steel and Raw Material Advisors as Exclusive Agent for Its Metals Business in the United States and Canada

Carmel, Indiana, August 5, 2021 – S & R Advisors, LLC (“Steel and Raw Material Advisors” or the “Company”) announced today that it has been appointed the exclusive agent in the United States and Canada by Cargill’s metals business (“Cargill Metals”). Cargill Metals focuses on iron ore and steel trading. Connecting iron ore miners around the world with steel mills and steel end users in key markets, Cargill Metals trades over ~50 million tonnes of iron ore per year.

The Company is focused on expanding Cargill Metals’ footprint in North America by scaling up its supply of high-grade iron ores that allow steels mills to reduce the CO2 emission per tonne of steel produced. It is also focused on developing value-add supply chains for American and Canadian steel producers.

“This agreement is built on our shared vision that the North American market is going to be an important supplier to and producer of environmentally-friendly steel,” stated Matt Lehtinen, Founder and Principal Advisor of the Company. “We look forward to developing value-add partnerships by connecting the North American ferrous industry with Cargill’s vast global supply and transportation footprint.”

Lee Kirk, Managing Director, Cargill Metals stated, “The North American market is a focused growth area for our business. We are actively investing in supply chains that support the carbon reduction initiatives of the ferrous industry. The partnership with Steel and Raw Material Advisors is a strong support to these investments and to help grow our business in North America.”

About S & R Advisors, LLC.

The Company was founded in 2020 to assist ferrous businesses with strategy and special situations. The Company is led by Matt Lehtinen, a former iron ore executive who started his career in 2003 as an engineer working on novel pig iron production technology. Matt was previously a director of Tacora Resources, Inc., a company that owns and operates the Scully Mine, a 6 million tonne per year iron ore concentrate producer located in Wabush, Newfoundland and Labrador, Canada.

About Cargill

Cargill's 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible, and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive. We combine 155 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture. S & R Advisors 571 Monon Blvd. Suite 200 Carmel, Indiana 46032 www.SandRAdvisors.com

About Cargill Metals

Headquartered in Singapore, Cargill's metals business provides value-add services and solutions along the global ferrous supply chain. Combining over 150 years track record of risk management in global commodities markets with more than 40 years unique insights in the ferrous industry, we provide our customers the support they need to thrive. We connect iron ore miners around the world with steel mills in key markets and provide a broad range of services from technical marketing to customized risk management solutions along the supply chain including to end users of steel.

With around 130 dedicated experts, an established global network and hubs in China, Singapore, U.K. and Vietnam to serve our customers, Cargill operates across over 25 ports and more than 50 warehouses globally, providing physical and financial solutions to over 2,500 customers in 40 countries. Each year we move around 50 million tons of physical iron ore and 6 million tons of physical steel globally. For more information, visit Cargill Metals Supply Chain or Cargill.com.

Matt Lehtinen

Principal Advisor

T – +1 (414) 688 0682

E – Matt.Lehtinen@SandRAdvisors.com

www.SandRAdvisors.com