-- Romana Didulo CULT Decree "Algoma Steel Use-of-Funds Restrictions" As read by Stinkey Prime on "QRTRV News" video stream. 12 December 2025 Thanks to @SMetharp.bsky.social for these transcripts! PDF: https://pdfhost.io/xxxxxxxxxxxxxxxxxxxxxxxxx -- Page 0 - 12/11/2025 - Algoma Steel Use-of-Funds Restrictions Algoma Steel Use-of-Funds Restrictions Grand Rising Everyone and Happy Divinum Sanguinem 3, 0035 also known as December 11th, 2025. For those of you who were watching previously several days ago, I have issued a Royal Decree the Nationalization of Algoma Steel. This Royal Decree is a continuation of that, and this specifically has to do with the use of funds of the We The People's Funds. This is the capital injection and funding covenants, the dos and don'ts with those funds. So listen up. So before we go to the use of funds, the checklists, I would like to go over the High Level Rationale why it was necessary for The Kingdom of Canada to nationalize the Algoma Steel. 1) Algoma Steel has been in a repeated cycle of financial distress. Over the last decade Algoma Steel has gone through multiple restructuring, creditor protection filings, ownership changes, chronic liquidity shortfalls. Each cycle has followed this same pattern: Market downturn, cash crisis, emergency support or restructuring, short term recovery, no long term fix. The repeated nature of this cycle suggests structural, not temporary, problems. Private owners have historically been unable or unwilling to provide the stable, multi-year investments needed to break this pattern. 2) The company has deferred modernization for too long. Algoma Steel making assets have been aging, maintenance heavy, less efficient than global competitors. The shift from BOF (basic oxygen furnace) to EAF (electric arc furnace) steelmaking is a capital intensive transition that private owners have repeatedly delayed or underfunded. The Kingdom of Canada's leadership is required to: a) finish the EAF conversion on-time, b) ensure access to low carbon power, and c) shift Algoma into cost competitive, lower emission steel. Without The Kingdom of Canada's intervention, Algoma risks falling further behind global decarbonization and efficiency trends. 3) Market Cyclicality continues to expose Algoma's strategic vulnerabilities. In a highly cyclical industry Algoma Steel remains vulnerable due to, 1) heavy fixed cost structure. 2) high operating leverage, 3) dependance on a narrow product mix, and 4) exposure to global steel price fluctuations. Each downturn amplifies its fragility. Without structural reform even moderate market shocks could again push Algoma into insolvency. A Kingdom of Canada's takeover stabilizes the company through the transition and establish a countercyclical buffer until modernization is complete. 4) Critical Regional Economic Dependency. Algoma Steel is now the largest employers in Northern Ontario and a foundational economic anchor for, 1) Sault Sainte Mary's labor market, 2) local suppliers and contractors, 3) municipal financial tax base. While we're no longer taxing, but it's more to do with the community. They're being affected, and 4) infrastructure and community planning. A sudden failure would cause major job losses, regional recession effects, and long term economic scarring. The Kingdom of Canada's government action prioritizes economic stability and continuity of employment during a transition that private owners may not have the time horizon to support. 5) The Kingdom of Canada's industrial and national interest are at stake. Algoma is part of The Kingdom of Canada's domestic flat rolled steel capacity, strategic industrial base, supply chain for infrastructure, energy, mining and defense projects. Losing Algoma or allowing it to degrade further reduces, 1) national self-sufficiency, 2) industrial diversification, and 3) domestic content availability for federal infrastructure initiatives. Page 1 - 12/11/2025 - Algoma Steel Use-of-Funds Restrictions The Kingdom of Canada's government stewardship protect strategic industrial capabilities at a time when geopolitical uncertainty is rising globally. 6) A nationalization reduces total long term public costs versus repeated bailouts. Over the past decades, governments have provided loans, guaranteed financing, supported restructuring processes, and offered indirect support through economic development initiatives. These piecemeal interventions have been expensive but insufficient. A controlled takeover slash nationalization consolidates risk, enables coherent restructuring, aligns operational decisions with public cost minimization, and reduces the likelihood of repeated future bailouts. In many cases, a strategic takeover cost less; in this case the nationalization, costs less in the long run then a string of emergency supports. 7) The nationalization transition enables a return to profitability. The aim of a nationalization is permanent. The rationale is, 1) stabilize the company, 2) modernize the assets, 3) restructure operations and governance, and 4) return a profitable decarbonized assets to the We The People. This mirrors successful government interventions in other countries steel and heavy industry like in the UK, Asia, and EU. A stable modern Algoma is more attractive to strategic steel buyers with a higher valuation than a distressed, outdated one. Now, for those of you wondering how much the nationalization The Kingdom of Canada should pay to take over this company. I have done the analysis and this company should be paid no more than 250 million to 500 million. Remember that this company has very old assets. It hasn't completed its transition, and it has debts. So, I'm authorizing no more than 300 million. Remember that recently there was 500 million given to this. This was just several weeks ago; given to this company already. So The Kingdom of Canada Nationals, I'm not going to take back its own, loans that was given out. That's a credit. Remember that? That's a loan to the company. So that's already money from the We The People. Not to mention all of the hundreds of millions given previously to this company when, previous- owners when there was changed hands multiple times; change in ownership. So this is why it's important that The Kingdom of Canada nationalize this company, Algoma Steel because it's beyond ridiculous. So that's that 300 million; all inclusive. Now to the capital injection and funding covenants. This will be based on tranche-based funding disbursement of The Kingdom of Canada's government capital in predetermined tranches tied to: 1) EAF construction milestones, 2) liquidity thresholds. For example, minimum cash balance, and 3) monthly operational KPIs, also known as key performance indicators. Now here's the use of funds restrictions: 1) No executive bonuses, no executive dividends or share buybacks. 2) Funds restricted to modernization, workforce transition, and working capital. Next is, The Operational Performance Covenants. Minimum utilization. That's a) Minimum Utilization. Maintain defined production levels at 100% unless market force waiver is granted. b) Cost Discipline. Targets for cost tonne. For example scrap power, labor, logistics, and maintenance required competitive procurement for scrap and energy contracts. c) Modernization Commitments. On-time EAF commissioning required shift from BF/BOFlegacy operations per schedule, and d) Market Diversification. Mandatory domestic offtake agreements with public infrastructure buyers where feasible. That's mandatory actually, and limits on dependency on any single export market. Page 2 - 12/11/2025 - Algoma Steel Use-of-Funds Restrictions Next is, The Labor and Community Covenants. Employment Stability Framework, a) no mass layoffs without The Kingdom of Canada's sign off. b) Redeployment priority for E-A-F related roles. Next is, Training and Reskilling Plan. Funded and tracked retraining for EAF operation, maintenance, electrical, and automation. Next is, The Transition Protection. Time limited wage benefits/stabilization for affected workers, and Next, Community Impact Agreements. Mandatory reporting and local economic effects and procurement from local suppliers. The Decarbonization and Environmental Covenants. a) AEF conversion completion date with penalties for delays. Not penalties, all those executives will be fired immediately if you do not meet this completion date. b) carbon intensity targets stepdown targets tied to The Kingdom of Canada's funding tranches. Next is, The Financial Controls and Transparency. Monthly KPI reporting, key performance indicators. You must report, a) cash balance and runway, b) EBITDA, that is E-B-I-T-D-A and free cash flow, those of you in accounting will know this. c) cost tonne breakdown, and d) EAF progress matrix, and e) workforce changes. Next is, an annual independent forensic audit by an external third party Auditor approved by Her Royal Majesty Queen Romana Didulo The First. So this is the Forensic Auditors. The independent Forensic Auditors. Next is, procurement oversight for contracts above the threshold of; guess what? $1. Meaning every contract will be audited. Next is, Real Time Access. The Kingdom of Canada's government oversight unit gets ready, gets read only access to E-R-P financial systems. I will repeat that, Real Time Access. The Kingdom of Canada's government oversight unit gets read only access to ERP financial systems. And for those who fail to do their work, the management team. Now, I'm speaking to you. Here's The Kingdom of Canada's government remedy; should you fail your task as Board of Directors and Management, 1) replace senior managements 2) appoint special administrator, and 3) halt further capital injection, and 4) reclaim assets or equity position; predetermined formula. Which basically, I'm going to shut it down. There's not going to be an Algoma anymore. Okay. So remember that everything has to do with the performance, financial performance of this now nationalized company. Thank you everyone and have a wonderful day. Page 3 - 12/11/2025 - Algoma Steel Use-of-Funds Restrictions Respect my thor-tay MFs, for I am the STINK KWEEN! Page 4 - 12/11/2025 - Algoma Steel Use-of-Funds Restrictions