Exhibit 99.1
Atlas Corp. Announces Full Redemption of
Its Series I Preferred Shares
Full Redemption Of Its Fixed-To-Floating Rate Cumulative
Redeemable Perpetual Preferred Shares Series I
LONDON, UK, Oct. 12, 2023 Atlas Corp. (the Company or
Atlas) today announced that it will redeem all outstanding shares of its Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares,
Series I, par value of $0.01 per share (the Series I Preferred Shares).
All six million outstanding shares of the Series I Preferred
Shares (CUSIP: Y0436Q158) will be redeemed at a price of $25.00 per share of Series I Preferred Shares on October 30, 2023 (the Redemption Date). The related notice of redemption will be deemed effective as of
October 13, 2023.
Regular dividends on the outstanding shares of the Series I Preferred Shares of $0.50 per share will be paid in cash separately on
October 30, 2023, to holders of record as of the close of business on October 27, 2023, in the customary manner. Accordingly, the redemption price for the Series I Preferred Shares will not include any accrued and unpaid dividends. Unless
the Company defaults in the payment of the Redemption Price, on and after the Redemption Date, all shares of Series I Preferred Shares will no longer be deemed outstanding, and no further dividends will be declared or payable (and all dividends will
cease to accrue) on the Series I Preferred Shares.
The Series I Preferred Shares are held through The Depository Trust Company (DTC)
and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Series I Preferred Shares will be made by Equiniti Trust Company, LLC, the Companys redemption agent (the Redemption Agent), in accordance
with the terms set forth in the Redemption Agent Agreement that governs the redemption of the Series I Preferred Shares. All questions about the notice of redemption and related materials should be directed to the Redemption Agent at the following
address and phone number:
Equiniti Trust Company, LLC
Attn: Corporate Actions
6201 15th
Avenue
Brooklyn, New York 11219
Tel: (718) 921-8317
This press release does not constitute a notice of redemption under the statement of designation governing the Series I Preferred Shares and is qualified in
its entirety by reference to the notice of redemption issued by the Company to the Redemption Agent.