Nippon Steel & USS Acquisition Overview

Building on USS's Strengths Social and Stakeholder Capital: Extensive U.S. Client Base, Established Brand Value ✓ Manufacturing Capital: Robust facilities organically combining iron ore mines, BFS and EAFS Natural Capital: Low-cost iron ore mines with abundant reserves Human Capital: Excellent management team, dedicated employees, strong union relationships O Intellectual Capital: R&D and technology bases across the U.S. Financial Capital: Strong financial structure (Debt/Equity Ratio <0.1), Sufficient retirement benefit reserves NIPPON STEEL USS United States Steel Corporation 6

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