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
Country			Payee						Taxes1			Royalties			Fees			Production entitlements			Bonuses			Dividends			Payments for infrastructure improvements			Community and social responsibility payments that are required by law or contract						Totals
United States			US Federal Government						$	33,658		$	—		$	236		$	—		$	—		$	—		$	—		$	—					$	33,894
Total									$	33,658		$	—		$	236		$	—		$	—		$	—		$	—		$	—					$	33,894

Payments by Project

Figures in thousands
Country			Project			Business Segment			Subnational Jurisdiction			Resource			Method of Extraction						Taxes1			Royalties			Fees			Production entitlements			Bonuses			Dividends			Payments for infrastructure improvements			Community and social responsibility payments that are required by law or contract						Totals
United States			Michigan Iron Ore			Steelmaking			Michigan			Iron Ore			Open Pit						$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—					$	—
United States			Minnesota Iron Ore			Steelmaking			Minnesota			Iron Ore			Open Pit						—			—			—			—			—			—			—			—						—
United States			West Virginia Coal			Steelmaking			West Virginia			Coal			Open Pit / Underground Mine						657			—			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.