This document is the English translation of the official Japanese version of the Press Release(“Official Japanese Version”). This English translation was prepared for your reference, to help you
understand what is stated in the Official Japanese Version. In the event of any discrepancy between
the Official Japanese Version and the English translation, the Official Japanese Version will prevail.
May 30, 2024
To Whom It May Concern,
Company name:
Representative:
Stock listing:Code number:Contact:

Nippon Steel Corporation
Tadashi Imai,
Representative Director, President and COO
Prime Market of Tokyo Stock Exchange / Nagoya
Stock Exchange / Fukuoka Stock Exchange /Sapporo Securities Exchange
5401
Public Relations Center, General Administration
Div. (Telephone: +81-3-6867-2977, 2135, 2146,3419)[Update on Disclosed Matters] Acquisition of United States Steel Corporation

Please refer to the next page for details.

May 30, 2024
Nippon Steel Corporation
United States Steel Corporation

U. S. Steel and Nippon Steel Corporation Announce Receipt of All Non-U.S. Regulatory
Approvals
Approvals are Significant Milestones for Completion of the Transaction

PITTSBURGH May 30, 2024 – United States Steel Corporation (NYSE: X) (“U. S. Steel”) and Nippon
Steel Corporation (“Nippon Steel”) (TSE: 5401) announced that they have received all regulatory
approvals outside of the United States related to the proposed transaction between U. S. Steel andNippon Steel. These approvals have been received from the Directorate-General for Competition of theEuropean Commission (pursuant to the EU Merger Regulation and, separately, the Foreign SubsidiesRegulation), the Mexican Federal Economic Competition Commission, the Serbian Competition
Commission, the Ministry of Economy of Slovakia, the Turkish Competition Authority. In addition, theUnited Kingdom Competition and Markets Authority confirmed that it had no further questions regarding
the proposed transaction in response to the submission of a voluntary briefing paper.
David B. Burritt, President & Chief Executive Officer of U. S. Steel, commented, “We are pleased with theregulatory approvals received, as they are a clear indication that the transaction with Nippon Steel is procompetitive and supports the strategic merits of foreign investment. Together with Nippon Steel,U. S. Steel will become a world-leading steelmaker with enhanced technologies and resources to support
a stronger steel industry with enhanced competition. This deal is the best deal for American steel, thebest deal for American jobs and the best deal for America’s ability to create an even stronger alliance withJapan against China.”
Takahiro Mori, Representative Director and Vice Chairman of Nippon Steel, said, “We appreciate thissignificant milestone of receiving regulatory approvals necessary to consummate the transaction from all
non-U.S. authorities. Our goal for this transaction has been clear and consistent – to protect and grow U.
S. Steel. We are confident that this transaction will be for the benefit of all of U. S. Steel’s stakeholders,including customers, employees, suppliers, and communities. U. S. Steel and Nippon Steel arecommitted to, as in the months past, continuing to fully cooperate with the examination of the relevant
authorities and are determined to complete the transaction.”© 2024 NIPPON STEEL CORPORATION All Rights Reserved.

U. S. Steel held a Special Meeting of Stockholders on April 12, 2024, with 71% of the outstanding sharesof U. S. Steel common stock voting in favor of the proposed transaction, resulting in an overwhelming
vote of approval of 99% of the shares represented at that meeting.
U. S. Steel and Nippon Steel currently expect that the transaction will be completed in the second half of2024, subject to the fulfillment of the remaining, customary closing conditions, including the receipt ofrequired U.S. regulatory approvals.

*For more information about this acquisition, please refer to the press release on December 18,2023.
https://www.nipponsteel.com/common/secure/en/ir/library/pdf/20231218_100.pdf

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains information regarding U. S. Steel and Nippon Steel that may constitute“forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of1995 and other securities laws, that are subject to risks and uncertainties. We intend the forward-looking
statements to be covered by the safe harbor provisions for forward-looking statements in those sections.
Generally, we have identified such forward-looking statements by using the words “believe,” “expect,”“intend,” “estimate,” “anticipate,” “project,” “target,” “forecast,” “aim,” “should,” “plan,” “goal,” “future,” “will,”“may” and similar expressions or by using future dates in connection with any discussion of, among otherthings, statements regarding the proposed transaction, including the timing of the completion of thetransaction. However, the absence of these words or similar expressions does not mean that a statement
is not forward-looking. Forward-looking statements include all statements that are not historical facts, butinstead represent only U. S. Steel’s beliefs regarding future goals, plans and expectations about ourprospects for the future and other events, many of which, by their nature, are inherently uncertain andoutside of U. S. Steel’s or Nippon Steel’s control and may differ, possibly materially, from the anticipated
events indicated in these forward-looking statements. Management of U. S. Steel or Nippon Steel, as
applicable, believes that these forward-looking statements are reasonable as of the time made. However,caution should be taken not to place undue reliance on any such forward-looking statements becausesuch statements speak only as of the date when made. In addition, forward looking statements are subject
to certain risks and uncertainties that could cause actual results to differ materially from U. S. Steel’s orNippon Steel’s historical experience and our present expectations or projections. Risks and uncertainties
include without limitation: the ability of the parties to consummate the proposed transaction on a timely
basis or at all; the timing, receipt and terms and conditions of any required governmental and regulatory
approvals of the proposed transaction; the occurrence of any event, change or other circumstances that
could give rise to the termination of the definitive agreement and plan of merger relating to the proposedtransaction (the “Merger Agreement”); the risk that the parties to the Merger Agreement may not be able
to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption© 2024 NIPPON STEEL CORPORATION All Rights Reserved.

of management time from ongoing business operations due to the proposed transaction; certain
restrictions during the pendency of the proposed transaction that may impact U. S. Steel’s ability to pursue
certain business opportunities or strategic transactions; the risk that any announcements relating to theproposed transaction could have adverse effects on the market price of U. S. Steel’s common stock or
Nippon Steel’s common stock or American Depositary Receipts; the risk of any unexpected costs orexpenses resulting from the proposed transaction; the risk of any litigation relating to the proposedtransaction; the risk that the proposed transaction and its announcement could have an adverse effecton the ability of U. S. Steel or Nippon Steel to retain customers and retain and hire key personnel andmaintain relationships with customers, suppliers, employees, stockholders and other business
relationships and on its operating results and business generally; and the risk the pending proposedtransaction could distract management of U. S. Steel. U. S. Steel directs readers to its Quarterly Reporton Form 10-Q for the quarter ended September 30, 2023 and Form 10-K for the year ended December
31, 2023, and the other documents it files with the SEC for other risks associated with U. S. Steel’s future
performance. These documents contain and identify important factors that could cause actual results todiffer materially from those contained in the forward-looking statements.
###2024-020
About U. S. SteelFounded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus
on safety, U. S. Steel’s customer-centric Best for All® strategy is advancing a more secure, sustainable
future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves
the automotive, construction, appliance, energy, containers, and packaging industries with high valueadded steel products such as U. S. Steel’s proprietary XG3® advanced high-strength steel. U. S. Steelalso maintains competitively advantaged iron ore production and has an annual raw steelmaking
capability of 22.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with worldclass operations across the United States and in Central Europe. For more information, please visit
www.ussteel.com.
About Nippon Steel
Nippon Steel is Japan’s largest steelmaker and one of the world’s leading steel manufacturers. Nippon
Steel has a global crude steel production capacity of approximately 66 million tonnes and employs
approximately 100,000 people in the world. Nippon Steel’s manufacturing base is in Japan and thecompany has presence in 15 additional countries including: United States, India, Thailand, Indonesia,Vietnam, Brazil, Mexico, Sweden, China and others. Nippon Steel established a joint venture in the UnitedStates around 40 years ago and has focused on building cooperative and good relationships withemployees, labor unions, suppliers, customers, and communities. As the ‘Best Steelmaker with World-© 2024 NIPPON STEEL CORPORATION All Rights Reserved.

Leading Capabilities,’ Nippon Steel pursues world-leading technologies and manufacturing capabilities
and contributes to society by providing excellent products and services. For more information, please
visit: https://www.nipponsteel.com.

Media Contacts:
U. S. Steel Contacts
Tara Carraro
Senior Vice President, Chief Communications Officer, U. S. SteelT- 412-433-1300
E- media@uss.com
Kelly Sullivan / Ed Trissel
Joele Frank, Wilkinson Brimmer Katcher
T- 212-895-8600
Emily Chieng
Investor Relations Officer, U. S. SteelT – (412) 618-9554
E – ecchieng@uss.com
Nippon Steel Contacts
MediaFor inquiries, https://www.nipponsteel.com/en/contact/
Investorsir@jp.nipponsteel.com
Yuichiro Kaneko / +81-80-9022-6867 / kaneko.yc3.yuichiro@jp.nipponsteel.com
Yohei Kato / +81-80-2131-0188 / kato.rk5.yohei@jp.nipponsteel.com
General Inquiries (U.S.)
Nippon Steel North America, Inc. / +1 (713) 654 7111
U.S. Media Contacts
NSCMedia@teneo.com
Robert Mead / +1 (917) 327 9828 / Robert.Mead@teneo.com
Monika Driscoll / +1 (929) 388 9442 / Monika.Driscoll@teneo.com
Tucker Elcock / +1 (917) 208 4652 / Tucker.Elcock@teneo.com© 2024 NIPPON STEEL CORPORATION All Rights Reserved.