James D. Graham - May 23, 2025 Form 4 Insider Report for CLEVELAND-CLIFFS INC. (CLF)

Role: EVP Chief Legal Admin & Sec
Signature: /s/ James D. Graham
Stock symbol: CLF
Transactions as of: May 23, 2025
Transactions value $: -$822,036
Form type: 4
Date filed: 5/23/2025, 07:18 PM
Previous filing: Feb 21, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Graham James D	EVP Chief Legal Admin & Sec	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND	/s/ James D. Graham	2025-05-23	0001510063

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLF	Common Shares	Sale	-$822K	-120K	-19.6%	$6.85	492K	May 23, 2025	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in column four is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.85 to $6.86, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price within this range.

Content

The price reported in column four is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.85 to $6.86, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price within this range.