EX-2 2 clf-20231231.htm EX-2 Document
EXHIBIT 2.01
Resource Extraction Payment Report

Resource Extraction Issuer: Cleveland-Cliffs Inc.
Reporting Year: Fiscal Year ended December 31, 2023
Currency of the report: USD
Date submitted: September 20, 2024

Payments by Payee
Figures in thousands
CountryPayee
Taxes1
RoyaltiesFeesProduction entitlementsBonusesDividendsPayments for infrastructure improvementsCommunity and social responsibility payments that are required by law or contractTotals
United StatesUS Federal Government$33,658 $— $236 $— $— $— $— $— $33,894 
Total$33,658 $ $236 $ $ $ $ $ $33,894 

Payments by Project
Figures in thousands
CountryProjectBusiness SegmentSubnational JurisdictionResourceMethod of Extraction
Taxes1
RoyaltiesFeesProduction entitlementsBonusesDividendsPayments for infrastructure improvementsCommunity and social responsibility payments that are required by law or contractTotals
United StatesMichigan Iron OreSteelmakingMichiganIron OreOpen Pit$— $— $— $— $— $— $— $— $ 
United StatesMinnesota Iron OreSteelmakingMinnesotaIron OreOpen Pit— — — — — — — —  
United StatesWest Virginia CoalSteelmakingWest VirginiaCoalOpen Pit / Underground Mine657 — 236 — — — — — 893 
Total$33,658 $ $236 $ $ $ $ $ $33,894 


Footnote:
1Cleveland-Cliffs Inc. (the “Company”) files a consolidated income tax return and is the entity that makes the consolidated tax payments. The vast majority of the Company’s taxable income does not relate to our resource extraction activities, as our footprint is predominantly comprised of multiple steelmaking operations that use iron ore and coal as raw materials in the steel production process. Accordingly, the Company has included $33.0 million in income tax payments to the US Federal Government within the total taxes paid, but did not allocate this amount to any specific project. The amount disclosed for the West Virginia Coal project is related to excise taxes.