Ternium's Steel Market and Financial Performance
Usiminas
Ternium to increase its Participation in Usiminas Control Group
■ In March 2023, Ternium entered into a share purchase agreement to acquire from Nippon Steel Corporation
(NSC) 57.7 million ordinary shares of Usiminas at a price of BRL10 per ordinary share for approximately $111
million
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■ If approved by Brazil's antitrust authorities (CADE):
■
Ternium will increase its participation in the Usiminas control group from 39.5% to 51.5% (in terms of total
shares: from 20.4% to 25.1%)
■ Ternium will have more direct involvement in Usiminas management and the implementation of its strategy
through a new governance structure, with the right to nominate (together with its affiliate Tenaris):
■ a majority of the board of directors
the CEO and four other members of Usiminas board of officers
Parties to the transaction also agreed to grant each other options to buy/sell the remaining NSC shares in
the control group (153 million ordinary shares) at different times after the closing of the share purchase
agreement
For more information on this transaction, please see press release here
Ternium I May 2023
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