# EDGAR Filing Document

**Accession Number:** 0001163302
**File Stem:** 0001104659-25-060674
**Filing Date:** 2025-6
**Character Count:** 95903
**Document Hash:** cc2122e91b0fa55d74706683ab0449d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-060674.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0001104659-25-060674

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20250618

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UNITED STATES STEEL CORP
- **CENTRAL INDEX KEY:** 0001163302
- **STANDARD INDUSTRIAL CLASSIFICATION:** STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 251897152
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-16811
- **FILM NUMBER:** 251057670

**BUSINESS ADDRESS:**
- **STREET 1:** 600 GRANT ST
- **STREET 2:** ROOM 1500
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15219-2800
- **BUSINESS PHONE:** 415 433 2967

**MAIL ADDRESS:**
- **STREET 1:** 600 GRANT STREET
- **CITY:** PITTSBURGH
- **STATE:** X1
- **ZIP:** 15219-2800

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNITED STATES STEEL LLC
- **DATE OF NAME CHANGE:** 20011205

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): June 18, 2025**

**United States Steel Corporation**

**(Exact Name of Registrant as Specified in Charter)**

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| | | |
|:---|:---|:---|
| <u>Delaware</u> | <u>1-16811</u> | <u>25-1897152</u> |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**<u>600 Grant Street,</u>**

**<u>Pittsburgh, PA 15219-2800</u>**

**(Address of Principal Executive Offices, and Zip Code)**

<u>(412) 433-1121</u>

**Registrant's Telephone Number, Including Area Code**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

◻ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | X | New York Stock Exchange<br>|
| Common Stock | X | Chicago Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Introductory Note**

On June 18, 2025, United States Steel Corporation, a Delaware corporation (the "<u>Company</u>"), completed the transaction contemplated by the terms of the previously announced Agreement and Plan of Merger, dated December 18, 2023 (the "<u>Agreement</u>"), by and among the Company, Nippon Steel North America, Inc., a New York corporation ("<u>Parent</u>"), 2023 Merger Subsidiary, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("<u>2023 Sub</u>"), and, solely as provided in Section 9.13 thereof, Nippon Steel Corporation, a Japanese corporation ("<u>Guarantor</u>").

Pursuant to the Agreement, 2023 Sub merged with and into the Company (the "<u>Transaction</u>"), with the Company surviving the merger as the surviving corporation and a subsidiary of Parent. At the effective time of the Transaction (the "<u>Effective Time</u>"), on the terms and subject to the conditions of the Agreement, each share of common stock, par value $1.00 per share, of the Company (the "<u>Common Stock</u>") issued and outstanding immediately prior to the Effective Time (other than (a) shares of Common Stock owned by the Company or any wholly owned subsidiary of the Company as treasury stock or otherwise (other than shares of Common Stock reserved for issuance under any of the Company Equity Plans (as defined in the Agreement)) or held directly or indirectly by Parent, 2023 Sub or any wholly owned subsidiary of Parent immediately prior to the Effective Time and (b) shares of Common Stock that were held by holders who did not vote in favor of the adoption of the Agreement and properly demanded, exercised and perfected appraisal of such shares pursuant to Section 262 of the General Corporation Law of the State of Delaware (the "<u>DGCL</u>")) was automatically converted into the right to receive $55.00 in cash (the "<u>Transaction Consideration</u>"). Additionally, at the Effective Time, each share of common stock, par value $1.00 per share, of 2023 Sub outstanding immediately prior to the Effective Time was converted into and became one validly issued, fully paid and nonassessable share of common stock, par value $1.00 per share, of the surviving corporation and constituted the only outstanding shares of capital stock of the surviving corporation.

Pursuant to the Agreement, each time-vested restricted stock unit award in respect of shares of Common Stock (a "<u>Company RSU Award</u>"), or portion thereof, that was outstanding immediately prior to the Effective Time, to the extent not vested, automatically became fully vested and was cancelled and converted into the right of the holder of the Company RSU Award (or portion thereof) to receive an amount in cash equal to (i) the Transaction Consideration *multiplied by* (ii) the number of shares underlying such Company RSU Award (or portion thereof) immediately prior to the Effective Time, together with any accrued and unpaid dividends corresponding to such vested Company RSU Award (or portion thereof).

Pursuant to the Agreement, each performance-based restricted stock unit award in respect of shares of Common Stock (a "<u>Company PSU Award</u>"), or portion thereof, that was outstanding immediately prior to the Effective Time, to the extent not vested, automatically became fully vested to the extent described in the following sentence and was cancelled and converted into the right of the holder of the Company PSU Award (or portion thereof) to receive an amount in cash equal to (i) the Transaction Consideration *multiplied by* (ii) the total number of shares subject to such Company PSU Award (or portion thereof) immediately prior to the Effective Time, together with any accrued and unpaid dividends corresponding to such vested Company PSU Award (or portion thereof). The total number of shares subject to a Company PSU Award were based on deemed achievement of the greater of (i) actual performance and (ii) target performance through the Effective Time. Notwithstanding the foregoing, if any portion of the Company PSU Award had been earned by its terms as of the Effective Time, but had not yet become vested, the total number of shares subject to such Company PSU Award was based on the number of shares actually earned.

Pursuant to the Agreement, each option to acquire shares of Common Stock (a "<u>Company Option Award</u>"), or portion thereof, that was outstanding immediately prior to the Effective Time, to the extent not vested, automatically became fully vested and was cancelled and converted into the right of the holder of each such Company Option Award to receive an amount in cash equal to (i) the excess, if any, of the Transaction Consideration over the applicable exercise price of such Company Option Award, *multiplied by* (ii) the number of shares of Common Stock subject to such Company Option Award immediately prior to the Effective Time (assuming full vesting for any Company Option Award (or portion thereof) that was subject to performance-based vesting). Any out-of-the-money Company Option Awards were cancelled without consideration therefor.

Pursuant to the Agreement, each share of Common Stock underlying a deferred restricted stock unit ("<u>Company DSU Award</u>") was converted into the right to receive an amount in cash equal to the Transaction Consideration or such other amount contemplated by the Company DSU Award to be settled in accordance with the terms thereof.

---

| | |
|:---|:---|
| **Item 1.01.** | **Entry into a Material Definitive Agreement.** |

---

*National Security Agreement*

 

On June 13, 2025, the Company entered into a National Security Agreement (the "<u>NSA</u>"), among Guarantor, Parent, the Company and the U.S. Government, represented by the U.S. Department of the Treasury and the U.S. Department of Commerce. The NSA provides that, subject to receipt of certain regulatory approvals, the Company will issue one share of Class G Preferred Stock (the "<u>Golden Share</u>") to the U.S. Government. Pursuant to the NSA, and through its ownership of the Golden Share, the U.S. Government will have certain rights with respect to non-ordinary course matters with respect to U. S. Steel, including relating to governance, domestic production and trade matters.

*Supplemental Indentures*

Under that certain Indenture, dated as of October 21, 2019 (the "<u>Convertible Notes Indenture</u>"), between the Company and The Bank of New York Mellon, as trustee (the "<u>Trustee</u>"), relating to the Company's 5.00% Senior Convertible Notes due 2026 (the "<u>Convertible Notes</u>"), the consummation of the Transaction constitutes a Share Exchange Event (as defined in the Convertible Notes Indenture). In connection with the consummation of the Transaction and the occurrence of a Share Exchange Event, the Company and the Trustee entered into a First Supplemental Indenture to the Convertible Notes Indenture, dated as of June 18, 2025 (the "<u>First Supplemental Indenture</u>"), relating to the Convertible Notes. The First Supplemental Indenture provides that, from and after the Effective Time, each $1,000 principal amount of Convertible Notes shall be convertible solely into cash (as opposed to shares of Common Stock) in an amount equal to the product of (a) the Transaction Consideration *multiplied by* (b) the number of shares of Common Stock that a holder of Convertible Notes would have received under the conversion rate in effect immediately prior to the Transaction.

The foregoing descriptions of the Convertible Notes Indenture and the First Supplemental Indenture and the transactions contemplated thereby are subject to and qualified in their entirety by reference to (i) the full text of the Convertible Notes Indenture, which was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K with the U.S. Securities and Exchange Commission (the "<u>SEC</u>") on October 21, 2019 and which is incorporated herein by reference, and (ii) the full text of the First Supplemental Indenture, which is filed as Exhibit 4.1 to this Current Report on Form 8-K and incorporated herein by reference.

In connection with the consummation of the Transaction, the Company and the Trustee entered into an Eleventh Supplemental Indenture, dated as of June 18, 2025 (the "<u>Eleventh Supplemental Indenture</u>"), to that certain Indenture, dated as of May 21, 2007 (the "<u>Base Indenture</u>"), as supplemented by a First Supplemental Indenture, dated as of May 21, 2007 (the "<u>Senior Notes First Supplemental Indenture</u>"), among the Company and the Trustee, relating to the Company's 6.65% Senior Notes due June 1, 2037 (the "<u>2037 Notes</u>"), and as further supplemented by a Tenth Supplemental Indenture, dated as of February 11, 2021 (the "<u>Tenth Supplemental Indenture</u>"), among the Company and the Trustee, relating to the Company's 6.875% Senior Notes due March 1, 2029 (the "<u>2029 Notes</u>" and, collectively with the 2037 Notes, the "<u>Senior Notes</u>"). The Eleventh Supplemental Indenture provides that, from and after the Effective Time, the definition of "Consolidated Net Tangible Assets" in Section 1.03 of the Senior Notes First Supplemental Indenture and Section 1.03 of the Tenth Supplemental Indenture is amended and restated to reference, for purpose of determining "Consolidated Net Tangible Assets", financial statements provided by the Company to holders within such time periods as would have been required by the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), if the Company were a "non-accelerated filer," and provide that financial statements may be deemed to be provided to holders if the Company (x) posts such financial statements on a website (which may be nonpublic and may be maintained by the Company or a third party) to which access will be given to holders that certify their status as such to the reasonable satisfaction of the Company or (y) otherwise makes the information publicly available (including by posting such information on EDGAR).

The foregoing descriptions of the Base Indenture, the Senior Notes First Supplemental Indenture, the Tenth Supplemental Indenture and the Eleventh Supplemental Indenture and the transactions contemplated thereby are subject to and qualified in their entirety by reference to (i) the full text of the Base Indenture, which was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K with the SEC on May 22, 2007, and which is incorporated herein by reference, (ii) the full text of the Senior Notes First Supplemental Indenture, which was filed as Exhibit 4.2 to the Company's Current Report on Form 8-K with the SEC on May 22, 2007, and which is incorporated herein by reference, (iii) the full text of the Tenth Supplemental Indenture, which was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K with the SEC on February 11, 2021, and which is incorporated herein by reference, and (iv) the full text of the Eleventh Supplemental Indenture, which is filed as Exhibit 4.2 to this Current Report on Form 8-K and incorporated herein by reference.

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| | |
|:---|:---|
| **Item 2.01.** | **Completion of Acquisition or Disposition of Assets.** |

---

The description contained under the Introductory Note above is hereby incorporated by reference into this Item 2.01.

The description of the effects of the Agreement and the transactions contemplated by the Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Agreement, which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed with the SEC on December 18, 2023 and which is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 2.04.** | **Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.** |

---

Under the Convertible Notes Indenture, the consummation of the Transaction constitutes a Fundamental Change and a Make-Whole Fundamental Change (each as defined in the Convertible Notes Indenture).

As a result of the Fundamental Change, holders of the Convertible Notes have the right (the "<u>Fundamental Change Purchase Right</u>") to require the Company to purchase for cash (a) all of such holder's Convertible Notes or (b) any portion of the principal amount thereof that is equal to $1,000 or an integral multiple of $1,000 in excess thereof, in each case, on July 18, 2025 (the "<u>Fundamental Change Purchase Date</u>"), at a purchase price equal to 100% of the principal amount of the Convertible Notes to be purchased, *plus* accrued and unpaid interest thereon, if any, to, but excluding, the Fundamental Change Purchase Date.

Notwithstanding the Fundamental Change Purchase Right, the Convertible Notes are convertible, at the option of the holder, at any time until 5:00 p.m., New York City time, on July 17, 2025. Pursuant to the terms of the Convertible Notes Indenture, as supplemented by the First Supplemental Indenture, the consideration due upon conversion of each $1,000 principal amount of Convertible Notes shall be solely an amount of cash equal to the product of (a) the Transaction Consideration *multiplied by* (b) the number of shares of Common Stock that a holder of the Convertible Notes would have received under the conversion rate in effect immediately prior to the Share Exchange Event. The conversion rate in effect immediately prior to the Share Exchange Event, taking into account all adjustments, was 74.8391 shares of Common Stock per $1,000 principal amount of Convertible Notes. As a result, holders of the Convertible Notes will be entitled to receive $4,116.15 in cash per $1,000 principal amount of Convertible Notes validly surrendered for conversion.

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| | |
|:---|:---|
| **Item 3.01.** | **Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.** |

---

The descriptions contained under the Introductory Note, Item 2.01, and Item 5.01 of this Current Report on Form 8-K are incorporated by reference into this Item 3.01.

In connection with the consummation of the Transaction, on June 18, 2025, the Company notified the New York Stock Exchange LLC ("<u>NYSE</u>") and the Chicago Stock Exchange ("<u>CSE</u>") that the Transaction had been consummated and requested that the NYSE and the CSE (a) suspend trading of the Common Stock, (b) remove the Common Stock from listing on the NYSE and the CSE prior to the open of trading on June 18, 2025, and (c) file with the SEC a notification of delisting of Common Stock under Section 12(b) of the Exchange Act. As a result, the Common Stock will no longer be listed on the NYSE and the CSE.

Additionally, the Company intends to file with the SEC a Form 15 under the Exchange Act to terminate the registration of the Common Stock under Section 12(g) of the Exchange Act and suspend the Company's reporting obligations under Sections 13 and 15(d) of the Exchange Act.

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| | |
|:---|:---|
| **Item 3.03.** | **Material Modification to Rights of Security Holders.** |

---

The descriptions contained under the Introductory Note, Item 2.01, Item 3.01, Item 5.01 and Item 5.03 of this Current Report on Form 8-K are incorporated by reference into this Item 3.03.

In connection with the Transaction and at the Effective Time, holders of Common Stock immediately prior to such time ceased to have any rights as stockholders in the Company (other than their right to receive the Transaction Consideration pursuant to the Agreement).

---

| | |
|:---|:---|
| **Item 5.01.** | **Changes in Control of Registrant.** |

---

The descriptions contained under the Introductory Note, Item 2.01 and Item 5.02 of this Current Report on Form 8-K are incorporated by reference into this Item 5.01.

As a result of the consummation of the Transaction, a change in control of the Company occurred. Pursuant to the Agreement, at the Effective Time, 2023 Sub was merged with and into the Company, with the Company continuing as the surviving corporation and becoming a subsidiary of Parent. The total equity value of the transaction was approximately $14.2 billion. The funds used by Parent to consummate the Transaction and complete the related transactions were provided by third-party debt financing.

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| | |
|:---|:---|
| **Item 5.03.** | **Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.** |

---

The description contained under the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 5.03.

At the Effective Time, (a) the Company's certificate of incorporation was amended and restated until thereafter amended in accordance with such certificate and the DGCL and (b) the bylaws of 2023 Sub as in effect immediately prior to the Effective Time, reflecting certain amendments, became the bylaws of the surviving corporation until thereafter amended in accordance with such bylaws, the certificate of incorporation of the surviving corporation and DGCL. Following the Effective Time, the certificate of incorporation and the bylaws of the surviving corporation were further amended and restated. The Company will further amend and restate its certificate of incorporation in order to issue the Golden Share following receipt of regulatory approvals required for the issuance of the Golden Share. The Fifth Amended and Restated Certificate of Incorporation and Second Amended and Restated Bylaws of the Company are attached hereto as Exhibit 3.1 and Exhibit 3.2, respectively, and are incorporated herein by reference.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

**(d) Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Exhibit** |
| [2.1\*](https://www.sec.gov/Archives/edgar/data/1163302/000110465923126953/tm2333110d3_ex2-1.htm) | [Agreement and Plan of Merger, dated as of December 18, 2023, by and among the Company, Parent, 2023 Sub and Guarantor (solely as provided in Section 9.13 therein) (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission on December 18, 2023)](https://www.sec.gov/Archives/edgar/data/1163302/000110465923126953/tm2333110d3_ex2-1.htm) |
| [3.1](tm2518197d1_ex3-1.htm) | [Fifth Amended and Restated Certificate of Incorporation of the Company](tm2518197d1_ex3-1.htm) |
| [3.2](tm2518197d1_ex3-2.htm) | [Second Amended and Restated Bylaws of the Company](tm2518197d1_ex3-2.htm) |
| [4.1](tm2518197d1_ex4-1.htm) | [First Supplemental Indenture, dated as of June 18, 2025, between the Company and the Bank of New York Mellon, as Trustee](tm2518197d1_ex4-1.htm) |
| [4.2](tm2518197d1_ex4-2.htm) | [Eleventh Supplemental Indenture, dated as of June 18, 2025, between the Company and The Bank of New York Mellon, as Trustee](tm2518197d1_ex4-2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The registrant hereby undertakes to furnish supplementally copies of any of the omitted schedules upon request by the SEC; provided, however, that the parties may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act for any document so furnished.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 18, 2025

---

| | |
|:---|:---|
| UNITED STATES STEEL CORPORATION | UNITED STATES STEEL CORPORATION |
| By: | /s/ Scotland M. Duncan |
| Name: | Scotland M. Duncan |
| Title: | Senior Vice President, General Counsel and Secretary |

---

## Exhibit 3.1

**Exhibit 3.1**

**FIFTH AMENDED AND RESTATED**

**CERTIFICATE OF INCORPORATION**

**OF**

**UNITED STATES STEEL CORPORATION**

United States Steel Corporation, a Delaware corporation (the "**Corporation**"), hereby certifies that this Fifth Amended and Restated Certificate of Incorporation has been duly adopted in accordance with Sections 242 and 245 of the General Corporation Law of the State of Delaware (the "**DGCL**"), and that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The name of the Corporation is: United States Steel Corporation. The Corporation was originally formed as a Delaware limited liability company under the name "United States Steel LLC" on May 25, 2001 and converted to a Delaware corporation, pursuant to Section 265 of the Delaware General Corporation Law and Section 18-216 of the Delaware Limited Liability Company Act, on December 31, 2001 under the name United States Steel Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The original Certificate of Incorporation of the Corporation was amended and restated on September 30, 2003, further amended and restated on April 25, 2017 and further amended and restated on June 18, 2025 upon the filing of a Certificate of Merger, pursuant to which 2023 Merger Subsidiary, Inc., a Delaware corporation, merged with and into the Corporation, with the Corporation surviving the merger under the name "United States Steel Corporation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. This Fifth Amended and Restated Certificate of Incorporation amends and restates the Corporation's Certificate of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. The Certificate of Incorporation upon the filing of this Fifth Amended and Restated Certificate of Incorporation, shall read as follows:

**<u>ARTICLE I</u>**

The name of the corporation shall be United States Steel Corporation (the "**Corporation**").

**<u>ARTICLE II</u>**

The address of its registered office in the State of Delaware is: The Corporation Trust Company, 1209 Orange Street, Corporation Trust Center, Wilmington, County of New Castle, Delaware 19801. The name of its registered agent at such address is The Corporation Trust Company.

**<u>ARTICLE III</u>**

The nature of the business or purposes to be conducted or promoted by the corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware ("**DGCL"**).

**<u>ARTICLE IV</u>**

The total number of shares of all classes of stock that the Corporation has authority to issue is 1,000 consisting of 1,000 shares of Common Stock, $1.00 par value per share ("**Common Stock**")

**<u>ARTICLE V</u>**

Elections of directors need not be by written ballot unless the by-laws of the Corporation shall so provide.

Meetings of stockholders may be held within or without of the State of Delaware, as the by-laws may provide. The books of the Corporation may be kept (subject to any provision contained in the statutes) outside the State of Delaware at such place or places as may be designated from time to time by the board of directors or in the by-laws of the Corporation.

**<u>ARTICLE VI</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, without (in addition to any other vote required by law or this Certificate of Incorporation) (i) at any time when Donald J. Trump is serving as President of the United States of America, the written consent of Donald J. Trump or President Trump's Designee, or (ii) at any other time, the written consent of the CMAs (as parties to the NSA) (and any such act or transaction entered into without such consent or vote shall be null and void *ab initio*, *ultra vires* and of no force or effect):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) alter, amend, repeal or waive any provision of this Certificate of Incorporation, except as contemplated by Article XII of the NSA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) change the Corporation's name from "United States Steel Corporation", change the Corporation's headquarters from Pittsburgh, Pennsylvania, or change the Corporation's domicile to a jurisdiction other than a state, commonwealth, district or territory of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) reduce, waive or delay any Capital Investment (as defined in Schedule 2 to this Certificate of Incorporation), subject to receipt of necessary approvals and permits on an expedited basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (A) prior to June 18, 2027, close, idle or sell the Corporation's Granite City Works or (B) prior to June 18, 2035, close, idle or sell any other Production Location, except, in each case of (A) and (B), any Temporary Idling or in response to, or as a result of, a Force Majeure Event;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) fail to follow the recommendation of the CMAs (as parties to the NSA) with respect to Trade Actions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) effect any material acquisition of a business that is domiciled in the United States that competes with the Corporation or its suppliers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) implement pricing of the Corporation's average spot sales price during any rolling six (6)-month period below eighty-five percent (85%) of the corresponding six (6)-month average for that applicable steel product as publicly published by the U.S. Midwest Domestic Hot-Rolled Coil Steel Index (i.e., Hot-rolled, Cold-rolled, and Coated steel); <u>provided</u>, that, for the avoidance of doubt, the average spot sales price will be calculated monthly and will be based on the average spot price for the applicable steel product for each individual customer transaction in the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) accept direct financial assistance from the Japanese government, excluding (a) financing obtained from Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI) or other equivalent Japanese government related financial institutions on commercially reasonable terms and (b) financial assistance for research and development in Japan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) prior to June 18, 2030, reduce the base salary of employees of the Corporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) make material changes to the Corporation's existing raw materials and steel sourcing strategy in the United States, unless such changes are intended to benefit the Corporation, its operations or customers, which changes, among others, include: to the extent steel making raw materials or inputs are or become inadequate in quantity or quality; and initial imports to the Corporation to accelerate the transfer of technology or commissioning or qualification of facilities committed to being built in the United States (e.g., grain oriented electrical steel).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. For purposes of this Article VI:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Disqualified Individual**" is defined on Schedule 1 to this Certificate of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Force Majeure Event**" means acts of God, natural disaster or the elements, explosion, insurrection, riot, strikes, lockouts, boycotts, picketing, labor disturbances, acts of public enemy, war (declared or undeclared), acts of terrorism, epidemics or pandemics, but in each case only to the extent that such act or event prevents, impedes, or reduces Production Capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**NSA**" means the National Security Agreement, effective as of June 13, 2025, by and among Nippon Steel Corporation, a publicly traded company incorporated in Japan ("**NSC**"), Nippon Steel North America, Inc., a New York corporation, the Corporation, and the U.S. Government, represented by the U.S. Department of the Treasury and the U.S. Department of Commerce as the CFIUS Monitoring Agencies (the "**CMAs**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Production Capacity**" means the name plate capacity to produce and supply steel and steel-related products from the following facilities of the Corporation in the United States involved in the production, including support for production, of steel products as of the effective date of this Certificate of Incorporation: Automotive Center (Troy, Michigan); Big River Steel; Big River 2; Fairfield Tubular Operations; Fairfield Works; Gary Works; Granite City Works; Great Lakes Works; Midwest Plant; Minnesota Ore Operations (including Keetac and Minntac); Mon Valley Works (including Clairton Plant, Edgar Thomson Plant, Fairless Plant, and Irvin Plant); Research and Technology Center (Munhall, Pennsylvania); U. S. Steel Tubular Products Innovation and Offshore Operations (Houston, Texas); and Wheeling Machine Products (Pine Bluff, Arkansas) (each such facility, a "**Production Location**".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Temporary Idling**" means the idling of a Production Location in connection with, or to address, issues related to safety and environmental issues, maintenance and repairs, upgrades made to the equipment, or related assets, labor and logistical disruptions, weather events, or natural disasters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "**President Trump's Designee**" means such individual who Donald J. Trump, in his capacity as President of the United States of America, designates to provide the consent required pursuant to this Article VI, and upon such designation, such individual will serve as President Trump's Designee until (i) he or she is removed as President Trump's Designee or (ii) such time as Donald J. Trump is no longer serving as President of the United States of America; <u>provided</u> that in no event shall a Disqualified Individual be President Trump's Designee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "**Trade Actions**" means trade measures under U.S. law such as antidumping/countervailing duty orders, safeguard measures, Section 232 national security actions, or any other legal action, including filing a petition or otherwise initiating a case, or policy advocacy related to U.S. trade or imports.

**<u>ARTICLE VII</u>**

Subject to Article VI of this Certification of Incorporation, the Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred upon stockholders herein are granted subject to this reservation.

**<u>ARTICLE VIII</u>**

The Corporation is to have perpetual existence.

**<u>ARTICLE VIX</u>**

Section 203 of the DGCL shall not apply to the Corporation.

**<u>ARTICLE X</u>**

No director or officer shall be personally liable to the Corporation or its stockholders for monetary damages for any breach of fiduciary duty by such director or officer as a director or officer, except (i) in the case of directors or officers, for breach of the director's or officer's duty of loyalty to the Corporation or its stockholders, (ii) in the case of directors or officers, for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) in the case of directors, liability pursuant to Section 174 of the DGCL, (iv) in the case of directors or officers, for any transaction from which the director or officer derived an improper personal benefit and (v) in the case of officers, any action by or in the right of the Corporation. No amendment to or repeal of this Article X shall apply to or have any effect on the liability or alleged liability of any director or officer of the Corporation for or with respect to any acts or omissions of such director or officer occurring prior to such amendment or repeal.

**\*** **\* \***

IN WITNESS WHEREOF, this Fifth Amended and Restated Certificate of Incorporation has been executed by the Corporation's duly authorized officer this 18th day of June, 2025.

---

| | | |
|:---|:---|:---|
| **UNITED STATES STEEL CORPORATION** | **UNITED STATES STEEL CORPORATION** | **UNITED STATES STEEL CORPORATION** |
| By: | /s/ Scotland M. Duncan | /s/ Scotland M. Duncan |
|  | Name: | Scotland M. Duncan |
|  | Title: | Senior Vice President, General Counsel and Secretary |

---

**Schedule 1**

<u>Disqualified Individuals</u>

"**Disqualified Individual**" means an individual who is, or was within the five (5) years prior to election as a Class G Director, (i) a director, manager, officer, partner, owner, investor, agent or consultant of, or otherwise affiliated with or acting in concert or on behalf of, a Competitor of the Corporation, Nippon Steel North America, Inc. or their affiliates, (ii) a member of the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union (the "**USW**"), (iii) listed below in this Schedule 1, or (iv) an immediate family member of any individual described in clause (i), (ii) or (iii).

"**Competitor**" means any person engaged in the same or similar line of business as the Corporation.

<u>Disqualified Individuals</u>

&nbsp;&nbsp;&nbsp;&nbsp;· James Chadwick

&nbsp;&nbsp;&nbsp;&nbsp;· Fred DiSanto

&nbsp;&nbsp;&nbsp;&nbsp;· Alan Kestenbaum

&nbsp;&nbsp;&nbsp;&nbsp;· Any other individual affiliated with, or acting in concert or on behalf of,
Ancora Holdings Group, LLC

**Schedule 2**

<u>Capital Investments</u>

"**Capital Investments**" means, collectively, the investments by Nippon Steel Corporation ("**NSC**") or its affiliates set forth below in this Schedule 2. The specific investment amounts in each year and each facility may change, while the total investment amounts from 2025 through 2028 will not change:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**State** | &nbsp;&nbsp;**Facility** | &nbsp;&nbsp;**2025<sup>1</sup>** | &nbsp;&nbsp;**2026** | &nbsp;&nbsp;**2027** | &nbsp;&nbsp;**2028** | &nbsp;&nbsp;**Total<br> 2025-2028** |
| &nbsp;&nbsp;Arkansas | &nbsp;&nbsp;Big River Steel | &nbsp;&nbsp;$0.1 | &nbsp;&nbsp;$0.9 | &nbsp;&nbsp;$0.9 | &nbsp;&nbsp;$1.3 | &nbsp;&nbsp;$3.0 |
| &nbsp;&nbsp;Indiana | &nbsp;&nbsp;Gary Works | &nbsp;&nbsp;$0.4 | &nbsp;&nbsp;$0.9 | &nbsp;&nbsp;$0.8 | &nbsp;&nbsp;$1.1 | &nbsp;&nbsp;$3.1 |
| &nbsp;&nbsp;Pennsylvania | &nbsp;&nbsp;Mon Valley | &nbsp;&nbsp;$0.1 | &nbsp;&nbsp;$0.7 | &nbsp;&nbsp;$0.7 | &nbsp;&nbsp;$0.9 | &nbsp;&nbsp;$2.4 |
| &nbsp;&nbsp;Minnesota | &nbsp;&nbsp;Keetac/Minntac | &nbsp;&nbsp;$0.2 | &nbsp;&nbsp;$0.2 | &nbsp;&nbsp;$0.3 | &nbsp;&nbsp;$0.3 | &nbsp;&nbsp;$0.8 |
| &nbsp;&nbsp;Alabama | &nbsp;&nbsp;Fairfield Works | &nbsp;&nbsp;$0.2 | &nbsp;&nbsp;$0.2 | &nbsp;&nbsp;$0.1 | &nbsp;&nbsp;$0.1 | &nbsp;&nbsp;$0.5 |
| &nbsp;&nbsp;TBD | &nbsp;&nbsp;New Mini Mill | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;$1.0 | &nbsp;&nbsp;$1.0 |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;-- | &nbsp;&nbsp;$0.9 | &nbsp;&nbsp;$2.7 | &nbsp;&nbsp;$2.6 | &nbsp;&nbsp;$4.6 | &nbsp;&nbsp;$10.8 |

---

<u>($ in Billions)</u>

"**Incurred**" means, with respect to a Capital Investment, that the amount has been paid or, in respect of a capital project relating to a facility listed in this Schedule 2, become committed to be paid. In the event that an investment cannot be made for a key project listed in this Schedule 2 as a result of the delay or rejection of the necessary approvals and permits on an expedited basis, the amount of such investment will be deemed "incurred".

<sup>1</sup> Inclusive of all amounts incurred at any time in 2025.

## Exhibit 3.2

**Exhibit 3.2**

**SECOND AMENDED & RESTATED**

**BYLAWS OF**

**UNITED STATES STEEL CORPORATION**

ARTICLE I OFFICES

SECTION 1.1. REGISTERED OFFICE. The registered office of the corporation shall be established and maintained at the office of The Corporation Trust Company, 1209 Orange Street, Corporation Trust Center, Wilmington, Delaware 19801, and said corporation shall be the registered agent of this corporation in charge thereof.

SECTION 1.2. OTHER OFFICES. The corporation shall have its principal office in Pittsburgh, Pennsylvania and may have other offices, either within or without the State of Delaware, at such place or places as the Board of Directors may from time to time appoint or the business of the corporation may require.

ARTICLE II MEETING OF STOCKHOLDERS

SECTION 2.1. ANNUAL MEETINGS. Annual meetings of stockholders for the election of directors and for such other business as may be stated in the notice of the meeting, shall be held in person or by remote communication at such place, either within or without the State of Delaware, and at such time and date as the Board of Directors, by resolution, shall determine and as set forth in the notice of the meeting.

If the date of the annual meeting shall fall upon a legal holiday, the meeting shall be held on the next business day. At each annual meeting, the stockholders entitled to vote shall elect a Board of Directors and they may transact such other corporate business as shall be stated in the notice of the meeting.

SECTION 2.2. OTHER MEETINGS. Meetings of stockholders for any purpose other than the election of directors may be held in person or by remote communication at such time and place, within or without the State of Delaware, as shall be stated in the notice of meeting.

SECTION 2.3. VOTING. Each stockholder entitled to vote in accordance with the terms of the Certificate of Incorporation and in accordance with the provisions of these Bylaws shall be entitled to one vote, in person or by proxy, for each share of stock entitled to vote held by such stockholder, but no proxy shall be voted after three years from its date unless such proxy provides for a longer period. Upon the demand of any stockholder, the vote for directors and the vote upon any question before the meeting, shall be by ballot. All elections for directors shall be decided by plurality vote; all questions shall be decided by majority vote except as otherwise provided by the Certificate of Incorporation or the laws of the State of Delaware.

A complete list of the stockholders entitled to vote at the ensuing election, arranged in alphabetical order, with the address of each, and the number of shares held by each, shall be open to the examination of any stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten days prior to the meeting, either at a place within the city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not so specified, at the place where the meeting is to be held. The list shall also be produced and kept at the meeting and place of the meeting during the whole time thereof, and may be inspected by any stockholder who is entitled to be present.

SECTION 2.4. QUORUM. Except as otherwise required by law, by the Certificate of Incorporation or by these Bylaws, the presence, in person or by proxy, of stockholders holding shares constituting a majority of the voting power entitled to vote shall constitute a quorum at all meetings of the stockholders. In case a quorum shall not be present at any meeting, a majority in interest of the stockholders entitled to vote thereat, present in person or by proxy, shall have the power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until the requisite amount of stock entitled to vote shall be present. At any such adjourned meeting at which the requisite amount of stock entitled to vote shall be represented, any business may be transacted which might have been transacted at the meeting as originally noticed; but only those stockholders entitled to vote at the meeting as originally noticed shall be entitled to vote at any adjournment or adjournments thereof.

SECTION 2.5. SPECIAL MEETINGS. Special meetings of the stockholders for any purpose or purposes may be called by the Board of Directors, President or Secretary, or upon the written request of the stockholders holding shares constituting a majority of the voting power entitled to vote at the meeting requested to be called.

SECTION 2.6. NOTICE OF MEETINGS. Written notice stating the place, date and time of the meeting, and the general nature of the business to be considered, shall be given to each stockholder entitled to vote thereat at his address as it appears on the records of the corporation, not less than ten nor more than sixty days before the date of the meeting. No business other than that stated in the notice shall be transacted at any meeting without the unanimous consent of all the stockholders entitled to vote thereat. The attendance of any stockholder at a meeting, in person or by proxy, without protesting the lack of notice of such meeting prior to the conclusion of the meeting, shall constitute a waiver of notice by such stockholder.

SECTION 2.7. ACTION WITHOUT MEETING. Unless otherwise provided by the Certificate of Incorporation, any action required or permitted to be taken at any annual or special meeting of stockholders, or any action which may be taken at any annual or special meeting, may be taken without a meeting, without prior notice and without a vote, if a consent in writing, setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted. Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have not consented in writing.

ARTICLE III DIRECTORS

SECTION 3.1. NUMBER AND TERM. The Board of Directors shall consist of one or more members and shall not exceed nine members. At each annual meeting, the stockholders shall determine the number of directors; provided, that between annual meetings the authorized number of directors may be increased or decreased by the stockholders or pursuant to Section 3.6 of these Bylaws. From and after the election of the Independent U.S. Directors, a majority of the Board of Directors shall be comprised of members who are U.S. citizens. A director shall hold office until a successor is elected and qualified, or until the earlier death, resignation, disqualification, or removal of the director.

SECTION 3.2. INDEPENDENT U.S. DIRECTORS. As soon as practicable after the adoption of these Bylaws, three members of the Board of Directors shall be elected and shall be "Independent U.S. Directors," each of whom shall: (i) be a U.S. citizen and (ii) have a background in the steel industry, U.S. national security, trade matters, manufacturing and/or labor.

SECTION 3.3. RESIGNATIONS. Any director, member of a committee or other officer may resign at any time. Such resignation shall be made in writing, and shall take effect at the time specified therein, and if no time be specified, at the time of its receipt by the President or Secretary. The acceptance of a resignation shall not be necessary to make it effective.

SECTION 3.4. VACANCIES. If the office of any director, member of a committee or other officer becomes vacant, the remaining directors in office, though less than a quorum, by a majority vote, may appoint any qualified person to fill such vacancy, who shall hold office for the unexpired term and until his or her successor shall be duly chosen. If the office of any director becomes vacant and there are no remaining directors, the stockholders, by the affirmative vote of the holders of shares constituting a majority of the voting power of the corporation, at a special meeting called for such purpose, may appoint any qualified person to fill such vacancy.

SECTION 3.5. REMOVAL. Any director or directors may be removed either for or without cause at any time by the affirmative vote of the holders of a majority of all the shares of stock outstanding and entitled to vote, at a special meeting of the stockholders called for the purpose and the vacancies thus created may be filled, at the meeting held for the purpose of removal, by the affirmative vote of a majority in interest of the stockholders entitled to vote.

SECTION 3.6. INCREASE OF NUMBER. Subject to Section 3.1 of these Bylaws, the number of directors may be increased by the affirmative vote of a majority interest of the stockholders, at the annual meeting or at a special meeting called for that purpose, and by like vote the additional directors may be chosen at such meeting to hold office until the next annual election and until their successors are elected and qualify.

SECTION 3.7. POWERS. The Board of Directors shall exercise all of the powers of the corporation except such as are by (a)(i) law, (ii) the Certificate of Incorporation of the corporation or (iii) these Bylaws or (b) resolution of the stockholders conferred upon or reserved to the stockholders.

SECTION 3.8. COMMITTEES. The Board of Directors may, by resolution or resolutions passed by a majority of the whole Board of Directors, designate one or more committees, each committee to consist of two or more directors of the corporation or dissolve any such committee. The Board of Directors may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of any member of such committee or committees, the member or members thereof present at any meeting and not disqualified from voting, whether or not he/she or they constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the Board of Directors, or in these Bylaws, shall have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the corporation, and the Board of Directors may, by resolution or resolutions passed by a majority of the whole Board of Directors, revoke or amend any such powers and authority; but no such committee shall have the power or authority in reference to amending the Certificate of Incorporation, adopting an agreement of merger or consolidation, recommending to the stockholders the sale, lease or exchange of all or substantially all of the corporation's property and assets, recommending to the stockholders a dissolution of the corporation or a revocation of a dissolution, or amending the Bylaws of the corporation; and, unless the resolution, these Bylaws, or the Certificate of Incorporation expressly so provide, no such committee shall have the power or authority to declare a dividend or to authorize the issuance of stock.

SECTION 3.9. MEETINGS. Regular meetings of the directors may be held without notice at such places and times as shall be determined from time to time by resolution of the directors.

Special meetings of the Board of Directors may be called by the President or by the Secretary on the written request of any director, on at least one day notice to each director and shall be held at such place or places as may be determined by the directors, or shall be stated in the call of the meeting.

Unless otherwise restricted by the Certificate of Incorporation or by these Bylaws, members of the Board of Directors, or any committee designated by the Board of Directors, may participate in a meeting of the Board of Directors, or any committee, by means of conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at the meeting.

SECTION 3.10. QUORUM. A majority of the directors shall constitute a quorum for the transaction of business. If at any meeting of the Board of Directors there shall be less than a quorum present, a majority of those present may adjourn the meeting from time to time until a quorum is obtained, and no further notice thereof need be given other than by announcement at the meeting which shall be so adjourned. The vote of the majority of all the directors then in office shall be the act of the Board of Directors unless otherwise permitted under the Certificate of Incorporation of the corporation or these Bylaws.

SECTION 3.11. COMPENSATION. Each director of the corporation who is not a salaried officer or employee of the corporation, or of a parent or affiliate of the corporation, shall receive such compensation for serving as a director and such fees for attendance at meetings of the Board of Directors or any committee of the Board of Directors as the Board of Directors may from time to time determine. By resolution of the Board of Directors a fixed fee and reimbursement of expenses related to attendance may be allowed for attendance by directors at each meeting. Nothing herein contained shall be construed to preclude any director from serving the corporation in any other capacity as an officer, agent or otherwise, and receiving compensation therefor.

SECTION 3.12. CHAIRMAN OF THE BOARD. At the first regular meeting of the Board of Directors in each year (at which a quorum shall be present) held next after the annual meeting, the Board of Directors shall proceed to the election of the Chairman of the Board of Directors from among its members.

SECTION 3.13. ACTION WITHOUT MEETING. Any action required or permitted to be taken at any meeting of the Board of Directors, or of any committee thereof, may be taken without a meeting, if prior to such action a written consent thereto is signed by all members of the Board of Directors, or of such committee as the case may be, and such written consent is filed with the minutes of proceedings of the Board of Directors or committee.

ARTICLE IV OFFICERS

SECTION 4.1. GENERALLY. The Board of Directors, at its first meeting after each annual meeting of stockholders, shall elect at least the following officers: a Chief Executive Officer, a President, a Chief Financial Officer, one or more Vice Presidents and a Secretary. The Board of Directors may also elect, appoint, or provide for the appointment of such other officers and agents as may from time to time appear necessary or advisable in the conduct of the affairs of the corporation. The Chief Executive Officer is empowered to appoint officers from time to time, other than a President, Chief Financial Officer, Executive Vice President and Secretary. The Corporate Secretary or any officer elected by the Board of Directors acting in conjunction with the Corporate Secretary may appoint such assistant officers (including one or more Assistant Secretaries) as may be necessary or desirable for the conduct of the business of the corporation. Officers of the corporation shall hold office until their successors are chosen and qualified or until their earlier death, resignation or removal, and shall perform such duties as from time to time shall be prescribed by these Bylaws and by the Board of Directors and, to the extent not so provided, as generally pertain to their respective offices. The Board of Directors may fill any vacancy occurring in any office of the corporation. Two or more offices may be held by the same person.

SECTION 4.2. CHIEF EXECUTIVE OFFICER. The Chief Executive Officer, subject to the overall direction and supervision of the Board of Directors and committees thereof, shall be in general charge of the affairs of the corporation and its officers, and shall consult and advise with the Board of Directors and committees thereof on the business and the affairs of the corporation. The Chief Executive Officer shall have the power to make and execute contracts and other instruments, including powers of attorney, on behalf of the corporation and to delegate such power to others. The Chief Executive Officer shall perform all duties incident to the office of the Chief Executive Officer, and any other duties as may be from time to time assigned to the Chief Executive Officer by the Board of Directors, in each case subject to the control of the Board of Directors.

SECTION 4.3. PRESIDENT. The President shall report and be responsible to the Chief Executive Officer. The President shall have such powers and perform such duties as from time to time may be assigned or delegated to the President by the Board of Directors or the Chief Executive Officer or that are incident to the office of President. The President shall also have the power to make and execute contracts on the corporation's behalf and to delegate such power to others.

SECTION 4.4. CHIEF FINANCIAL OFFICER. The Chief Financial Officer shall be the principal financial officer of the corporation and shall have such powers and perform such duties as may be assigned by the Board of Directors or the Chief Executive Officer. The Chief Financial Officer shall also have the power to make and execute contracts on the corporation's behalf and to delegate such power to others.

SECTION 4.5. VICE PRESIDENTS. Each Executive Vice President, Senior Vice President and Vice President shall have such powers and perform such duties as may be assigned to the officer by the Board of Directors or by the Chief Executive Officer. Each Executive Vice President, Senior Vice President and Vice President shall have all the powers and duties as are commonly incident to the office of Vice President, or that are delegated to him or her by the Board of Directors, the Chief Executive Officer or his or her superior officer. A Vice President may be designated by the Board of Directors to perform the duties and exercise the powers of the President in the event of the President's absence or disability. Each Executive Vice President, Senior Vice President and Vice President shall also have the power to make and execute contracts on the corporation's behalf and to delegate such power to others.

SECTION 4.6. SECRETARY. The powers and duties of the Secretary are: (i) to act as Secretary at all meetings of the Board of Directors, of the committees of the Board of Directors and of the stockholders, and to record the proceedings of those meetings in a book or books to be kept for that purpose; (ii) to see that all notices required to be given by the corporation are duly given and served; (iii) to have charge of the books, records and papers of the corporation and see that the reports, statements and other documents required by law to be kept and filed are properly kept and filed; and (iv) to have any other powers and perform all of the duties as are commonly incident to the office of Secretary, or as the Board of Directors or the Chief Executive Officer may from time to time prescribe. The Secretary shall have the responsibility for authenticating records of the corporation, and shall also have the power to make and execute contracts on the corporation's behalf and to delegate such power to others.

SECTION 4.7. ASSISTANT SECRETARIES. The Assistant Secretary, if there is one, or if there shall be more than one, the Assistant Secretaries in the order determined by the Board of Directors (or if there shall have been no determination, then in the order of their election) shall, in the absence of the Secretary or in the event of the Secretary's inability or refusal to act, perform the duties and exercise the powers of the Secretary.

SECTION 4.8. DELEGATION OF AUTHORITY. Such other officers as the Board of Directors may choose shall perform such duties and have such powers as from time to time may be assigned to them by the Board of Directors. The Board of Directors may delegate to any other officer of the corporation the power to choose such other officers and to prescribe their respective duties and powers. All powers and authority conferred to officers of the corporation in these bylaws shall be subject to (a) any limitations on authority as the Board of Directors may adopt, amend or repeal and (b) any requirement that stockholders approve an action or matter.

SECTION 4.9. REMOVAL. Any officer of the corporation shall serve at the pleasure of the Board of Directors (or, in the case of an officer appointed by the Chief Executive Officer, at the pleasure of the Chief Executive Officer) and shall hold office until the officer's successor is chosen and qualified or until the officer's earlier death, resignation or removal. Any officer may be removed at any time, with or without cause, by the Board of Directors (and, in the case of an officer appointed by the Chief Executive Officer, by the Chief Executive Officer). The removal shall be without prejudice to the contractual rights of the officer, if any, with the corporation.

SECTION 4.10. COMPENSATION. The compensation of officers of the corporation shall be fixed by the Board of Directors or by any officer(s) authorized by the Board of Directors to prescribe compensation for other officers.

SECTION 4.11. VOTING UPON INTERESTS IN OTHER BUSINESS ENTITIES. Unless otherwise ordered by the Board of Directors, any Officer or any person or persons appointed in writing by any of them, shall have full power and authority on behalf of the corporation to attend and to act and to vote at any meetings of stockholders of any corporation in which the corporation may hold stock, or at meetings of partnerships in which the corporation may hold partnership interests, or at any other meetings of holders of interests in business entities in which the corporation may hold interests, including limited liability companies, and at any such meeting shall possess and may exercise any and all rights and powers incident to the ownership of such stock, partnership interest or other interest, and which, as the owner thereof, the corporation might have possessed and exercised if present. The Board of Directors, by resolution, from time to time, may confer like powers upon any other person or persons.

ARTICLE V MISCELLANEOUS

SECTION 5.1. CERTIFICATES OF STOCK. Certificates of stock, signed by the President, Vice-President, Secretary or Assistant Secretary, may be issued or shares of stock may remain uncertificated. Any of or all the signatures may be facsimiles.

SECTION 5.2. LOST CERTIFICATES. A new certificate of stock may be issued in the place of any certificate theretofore issued by the corporation, alleged to have been lost or destroyed, and the directors may, in their discretion, require the owner of the lost or destroyed certificate, or such owner's legal representatives, to give the corporation a bond, in such sum as they may direct, not exceeding double the value of the stock, to indemnify the corporation against any claim that may be made against it on account of the alleged loss of any such certificate, or the issuance of any such new certificate.

SECTION 5.3. TRANSFER OF SHARES. The shares of stock of the corporation shall be transferable only upon its books by the holders thereof in person or by their duly authorized attorneys or legal representatives, and upon such transfer the old certificates shall be surrendered to the corporation by the delivery thereof to the person in charge of the stock and transfer books and ledgers, or to such other person as the directors may designate, by whom they shall be cancelled, and new certificates shall thereupon be issued. A record shall be made of each transfer and whenever a transfer shall be made for collateral security, and not absolutely, it shall be so expressed in the entry of the transfer.

SECTION 5.4. STOCKHOLDERS RECORD DATE. In order that the corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, or to express consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the Board of Directors may fix, in advance, a record date, which shall not be more than sixty nor less than ten days before the date of such meeting, nor more than sixty days prior to any other action. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the Board of Directors may fix a new record date for the adjourned meeting.

SECTION 5.5. DIVIDENDS. The Board of Directors may from time to time declare such dividends as they shall deem advisable and proper, subject to such restrictions as may be imposed by law and the Certificate of Incorporation.

SECTION 5.6. NO CORPORATE SEAL. There shall be no corporate seal.

SECTION 5.7. FISCAL YEAR. The fiscal year of the corporation shall be determined by resolution of the Board of Directors.

SECTION 5.8. CHECKS. All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the corporation shall be signed by such officer or officers, agent or agents of the corporation, and in such manner as shall be determined from time to time by resolutions of the Board of Directors.

SECTION 5.9. NOTICE AND WAIVER OF NOTICE. Whenever any notice is required by these Bylaws to be given, personal notice is not meant unless expressly so stated, and any notice so required shall be deemed to be sufficient if given by depositing the same in the United States mail, postage prepaid, addressed to the person entitled thereto at his address as it appears on the records of the corporation, and such notice shall be deemed to have been given on the day of such mailing. Stockholders not entitled to vote shall not be entitled to receive notice of any meetings except as otherwise provided by law.

Whenever any notice whatever is required to be given under the provisions of any law, or under the provisions of the Certificate of Incorporation of the corporation or these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto.

ARTICLE VI INDEMNIFICATION

SECTION 6.1. Right to Indemnification. The corporation shall indemnify and hold harmless to the fullest extent permitted by law any person who was or is made or is threatened to be made a party or is involved in any action, suit, or proceeding whether civil, criminal, administrative or investigative ("proceeding") by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was a director, officer or employee of the corporation or is or was serving at the request of the corporation as a director, officer or employee of another corporation or of a partnership, joint venture, trust, enterprise or non-profit entity, including service with respect to employee benefit plans, against all expenses, liability, and loss reasonably incurred or suffered by such person. The corporation shall indemnify any person seeking indemnity in connection with a proceeding initiated by such person only if the proceeding was authorized by the Board of Directors.

SECTION 6.2. Prepayment of Expenses. The corporation shall pay the expenses reasonably incurred in defending any such proceeding in advance of its final disposition; provided, however, the payment of expenses incurred by a director, officer or employee in his or her capacity as a director, officer or employee (except with regard to service to an employee benefit plan or nonprofit entity) in advance of the final disposition of the proceeding shall be made only upon the agreement by the director, officer or employee to repay all amounts advanced if it should be determined that the director, officer or employee is not entitled to be indemnified under this Article VI or otherwise, and provided, further, that the corporation shall have no obligation to pay any expenses in advance pursuant to this Section 6.2 to any person who is or was an employee of the corporation (other than a director or an officer) or is or was serving at the request of the corporation as an employee of another corporation or of a partnership, joint venture, trust, enterprise or non-profit entity, with respect to any proceeding by or in the right of the corporation to procure a judgment in its favor.

SECTION 6.3. Claims. If a claim under this Article VI is not paid in full within ninety days after a written claim has been received by the corporation, the claimant may file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid in addition the expense of prosecuting such claim. In any such action the corporation shall have the burden of proving that the claimant was not eligible for indemnification under applicable law.

SECTION 6.4. Non-Exclusivity of Rights. The rights conferred on any person by this Article VI shall not be exclusive of any other right which such person may have or hereafter acquire under any statute, provision of the Certificate of Incorporation, these Bylaws, agreement, vote of stockholders or disinterested directors or otherwise.

SECTION 6.5. Effect of Amendment or Repeal. The foregoing provisions of this Article VI shall be deemed to be a contract between the corporation and any person described in Section 6.1 above. Any repeal or modification of this Article VI shall not affect any rights or obligations then existing with respect to any acts or omissions occurring prior to such amendment or repeal, regardless of whether any action, suit or proceeding based in whole or in part on any such acts or omissions is commenced before or after any such repeal or modification.

ARTICLE VII AMENDMENTS

These Bylaws may be altered or repealed and Bylaws may be made at any annual meeting of the stockholders or at any special meeting thereof if notice of the proposed alteration or repeal or Bylaw or Bylaws to be made be contained in the notice of such special meeting, by the affirmative vote of a majority of the stock issued and outstanding and entitled to vote thereat.

Effective: June 18, 2025

## Exhibit 4.1

**Exhibit 4.1**

**FIRST SUPPLEMENTAL INDENTURE**

FIRST SUPPLEMENTAL INDENTURE, dated as of June 18, 2025 (this "<u>Supplemental Indenture</u>"), between United States Steel Corporation, a Delaware corporation (the "<u>Company</u>") and The Bank of New York Mellon, as trustee (the "<u>Trustee</u>"), to the Indenture, dated as of October 21, 2019 (the "<u>Base Indenture</u>", as supplemented by this Supplemental Indenture and as further amended and supplemented from time to time, the "<u>Indenture</u>"), between the Company and the Trustee.

W I T N E S S E T H

WHEREAS, the Company previously issued its 5.00% Senior Convertible Notes due 2026 (the "<u>Notes</u>") under the Base Indenture;

WHEREAS, in connection with that certain Agreement and Plan of Merger, dated as of December 18, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "<u>Agreement</u>"), among, *inter alios*, the Company, Nippon Steel North America, Inc., a New York corporation ("<u>Parent</u>"), and 2023 Merger Subsidiary, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("<u>Purchaser</u>"), pursuant to which, effective as of June 18, 2025 (the "<u>Effective Date</u>"), (A) Purchaser merged with and into the Company (the "<u>Merger</u>"), with the Company surviving the Merger as a wholly owned subsidiary of Parent and (B) at the Effective Date, each outstanding share of common stock of the Company, par value $1.00 per share (the "<u>Shares</u>") (excluding (x) Shares owned by the Company or any wholly owned subsidiary of the Company as treasury stock or otherwise, but including, for the avoidance of doubt, any Shares held by any Company Employee Plan (as defined in the Agreement) or trust related thereto (other than, for the avoidance of doubt, Shares reserved for issuance under any of the Company Equity Plans (as defined in the Agreement)) or held, directly or indirectly, by Parent, Purchaser or any wholly owned subsidiary of Parent immediately prior to the Effective Date and (y) Shares that are issued and outstanding immediately prior to the Effective Date (other than the shares described in the foregoing clause (x)) and that are held by holders that did not vote in favor of the adoption of the Agreement or consented thereto in writing and are entitled to demand and properly demand, exercise and perfect appraisal of such shares pursuant to Section 262 of the General Corporation Law of the State of Delaware) were automatically converted into the right to receive $55.00 per share (the "<u>Merger Consideration</u>") in cash, without interest, subject to any required tax withholding;

WHEREAS, in connection with the foregoing, Section 14.07(a) of the Base Indenture provides that, at the Effective Date, the right to convert each $1,000 principal amount of Notes into a number of shares of the Common Stock equal to the Conversion Rate in effect immediately prior to the Merger will, without the consent of the Holders, be changed into a right to convert each $1,000 principal amount of Notes into or based on a number of Units of Reference Property equal to the Conversion Rate in effect immediately prior to the Merger, and provides that the Company shall execute a supplemental indenture with the Trustee to provide for such change in the right to convert each $1,000 principal amount of Notes;

WHEREAS, pursuant to Section 10.01 of the Base Indenture, the Trustee is authorized to sign any amendment, supplement or waiver to the Base Indenture without the consent of any Holder if such amendment, supplement or waiver does not adversely affect the rights, duties or immunities of the Trustee under the Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Definition of Terms</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All references herein to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The terms "herein", "hereof", "hereunder" and other words of similar import refer to this Supplemental Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event of a conflict between any definition set forth in the Indenture and any definition set forth in this Supplemental Indenture, the definitions set forth in this Supplemental Indenture shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Settlement upon Conversion</u>. In accordance with Section 14.07(a) of the Indenture, in connection with the consummation of the Merger and the occurrence of a Share Exchange Event, from and after the Effective Date, each $1,000 principal amount of Notes shall be convertible solely into an amount of cash equal to (i) the Merger Consideration *multiplied* by (ii) the number of shares of Common Stock that a Holder would have received under the Conversion Rate in effect immediately prior to the Merger, which is the amount of cash that Holders of the Notes would have been entitled to receive upon the consummation of the Merger had each $1,000 principal amount of the Notes been converted into a number of shares of Common Stock equal to the Conversion Rate immediately prior to the Merger. The procedures for settlement upon conversion set forth in the Indenture shall continue to apply *mutatis mutandis* to the Holders' right to convert the Notes into the cash amount described in this Supplemental Indenture, and any reference in the Indenture to Holders' right to convert the Notes into any Settlement Amount shall be deemed to be a reference to Holders' right to convert the Notes into the cash amount described in this Supplemental Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>Ratification of Indenture; Supplemental Indenture Part of Indenture</u>. Except as expressly provided for herein, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) <u>No Recourse Against Others.</u> No director, officer, employee, incorporator or stockholder of the Company shall have any liability for any obligations of the Company under the Notes, the Indenture, the Supplemental Indenture or any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder, by accepting a Note, waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) <u>Governing Law</u>. This Supplemental Indenture, and any claim, controversy or dispute arising under or related to this Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) <u>Execution in Counterparts</u>. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together shall represent the same agreement. Delivery of an executed counterpart of a signature page to this Supplemental Indenture by telecopier, facsimile or other electronic transmission (e.g. a "pdf" or "tif") (including any electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) shall be effective as delivery of a manually executed counterpart thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) <u>Effect of Headings</u>. The section headings herein are for convenience only and shall not affect the construction hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) <u>Effect on Successors and Assigns.</u> All covenants and agreements in this Supplemental Indenture given by the parties hereto shall bind their successors and assigns, whether so expressed or not.

[*Remainder of Page Intentionally Left Blank; Signature Pages Follow*]

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.

---

| | |
|:---|:---|
| **United States Steel Corporation** | **United States Steel Corporation** |
| By: | /s/ Arne Jahn |
|  | Name: Arne Jahn |
|  | Title: Vice President – Treasurer & Chief Risk Officer |

---

[Signature Page to First Supplemental Indenture]

---

| | |
|:---|:---|
| **THE BANK OF NEW YORK MELLON**, | **THE BANK OF NEW YORK MELLON**, |
| as Trustee | as Trustee |
| By: | /s/ Glenn McKeever |
|  | Name: Glenn McKeever |
|  | Title: Vice President |

---

[Signature Page to First Supplemental Indenture]

## Exhibit 4.2

**Exhibit 4.2**

**ELEVENTH SUPPLEMENTAL INDENTURE**

ELEVENTH SUPPLEMENTAL INDENTURE, dated as of June 18, 2025 (this "<u>Supplemental Indenture</u>"), between United States Steel Corporation, a Delaware corporation (the "<u>Company</u>") and The Bank of New York Mellon (formerly known as The Bank of New York), as trustee (the "<u>Trustee</u>").

W I T N E S S E T H

WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of May 21, 2007 (the "<u>Base Indenture</u>"), as supplemented by the First Supplemental Indenture, dated as of May 21, 2007 (the "<u>First Supplemental Indenture</u>"), among the Company and the Trustee, relating to the Company's 6.65% Senior Notes due June 1, 2037 (the "<u>2037 Notes</u>"), and as further supplemented by the Tenth Supplemental Indenture, dated as of February 11, 2021 (the "<u>Tenth Supplemental Indenture</u>" and, collectively with the Base Indenture and the First Supplemental Indenture, the "<u>Indenture</u>"), among the Company and the Trustee, relating to the Company's 6.875% Senior Notes due March 1, 2029 (the "<u>2029 Notes</u>" and, collectively with the 2037 Notes, the "<u>Notes</u>");

WHEREAS, in connection with that certain Agreement and Plan of Merger, dated as of December 18, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time), among the Company, Nippon Steel North America, Inc., a New York corporation ("<u>Parent</u>"), and 2023 Merger Subsidiary, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("<u>Purchaser</u>"), pursuant to which Purchaser will merge with and into the Company (the "<u>Merger</u>"), with the Company surviving the Merger as a wholly owned subsidiary of Parent;

WHEREAS, in connection with the Merger, the Company shall cease to prepare annual and quarterly reports on Form 10-K and Form 10-Q;

WHEREAS, pursuant to Section 9.01(9) of the Base Indenture, the Company, when authorized by an Establishment Action, and the Trustee, may from time to time enter into a supplemental indenture without the consent of the Holders for the purpose of curing any ambiguity or correcting or supplementing any provision of the Indenture which may be defective or inconsistent with any other provision of the Indenture;

WHEREAS, all things necessary to make this Supplemental Indenture a legal and binding supplement to the Indenture in accordance with its terms and the terms of the Indenture have been done; and

WHEREAS, the Company (i) has complied with all conditions precedent provided for in the Indenture relating to this Supplemental Indenture and (ii) desires and has requested the Trustee to join with it in entering into this Supplemental Indenture for the purpose of amending the Indenture in certain respects as permitted by Section 9.01(9) of the Base Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Scope of Supplemental Indenture</u>. This Supplemental Indenture constitutes a supplement to the Indenture and an integral part of the Indenture and shall be read together with the Base Indenture and each of the First Supplemental Indenture and Tenth Supplemental Indenture, as applicable, as though all the provisions thereof are contained in one instrument. Except as expressly amended by this Supplemental Indenture, the terms and provisions of the Indenture shall remain in full force and effect. Notwithstanding the foregoing, this Supplemental Indenture shall only apply to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Definition of Terms</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All references herein to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The terms "herein", "hereof", "hereunder" and other words of similar import refer to this Supplemental Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event of a conflict between any definition set forth in the Indenture and any definition set forth in this Supplemental Indenture, the definitions set forth in this Supplemental Indenture shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>Amendments to Indenture</u>. With respect to the Notes, each of the First Supplemental Indenture and the Tenth Supplemental Indenture is hereby corrected and supplemented pursuant to Section 9.01(9) of the Base Indenture to amend and restate, in its entirety, the definition of "Consolidated Net Tangible Assets" in Section 1.03 of the First Supplemental Indenture and Section 1.03 of the Tenth Supplemental Indenture as follows:

"<u>Consolidated Net Tangible Assets</u>" means, as of the time of determination, the aggregate amount of the assets of the Company and the assets of its consolidated Subsidiaries after deducting (1) all goodwill, trade names, trademarks, service marks, patents, unamortized debt discount and expense and other intangible assets and (2) all current liabilities, as reflected on the consolidated balance sheet contained in financial statements for the most recently completed fiscal quarter and prepared by the Company in accordance with GAAP and provided to the Holders within such time periods as would have been required by the Exchange Act if the Company were a "non-accelerated filer" (and which financial statements have not been subsequently disclaimed as being not reliable by the Company) prior to the time as of which "Consolidated Net Tangible Assets" is being determined. Financial statements may be deemed to be provided to holders if the Company (x) posts such financial statements on a website (which may be nonpublic and may be maintained by the Company or a third party) to which access will be given to Holders that certify their status as such to the reasonable satisfaction of the Company or (y) otherwise makes the information publicly available (including by posting such information on EDGAR).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) <u>No Recourse Against Others.</u> No director, officer, employee, incorporator or stockholder of the Company shall have any liability for any obligations of the Company under the Notes, the Indenture, the Supplemental Indenture or any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder, by accepting a Note, waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) <u>Trust Indenture Act Controls</u>. If any provision hereof limits, qualifies or conflicts with the duties imposed by Section 310 through 317 of the Trust Indenture Act, the imposed duties shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) <u>Governing Law</u>. This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) <u>Execution in Counterparts</u>. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together shall represent the same agreement. Delivery of an executed counterpart of a signature page to this Supplemental Indenture by telecopier, facsimile or other electronic transmission (e.g. a "pdf" or "tif") (including any electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) shall be effective as delivery of a manually executed counterpart thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) <u>Effect of Headings</u>. The section headings herein are for convenience only and shall not affect the construction hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) <u>Effect on Successors and Assigns.</u> All covenants and agreements in this Supplemental Indenture given by the parties hereto shall bind their successors and assigns, whether so expressed or not.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) <u>Trustee Disclaimer</u>. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture other than as to the validity of its execution and delivery by the Trustee. The recitals and statements herein are deemed to be those of the Company and not the Trustee.

[*Remainder of Page Intentionally Left Blank; Signature Pages Follow*]

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.

---

| | |
|:---|:---|
| **United States Steel Corporation** | **United States Steel Corporation** |
| By: | /s/ Arne Jahn |
|  | Name: Arne Jahn |
|  | Title: Vice President – Treasurer & Chief Risk Officer |

---

[Signature Page to Eleventh Supplemental Indenture]

---

| | |
|:---|:---|
| **THE BANK OF NEW YORK MELLON**, | **THE BANK OF NEW YORK MELLON**, |
| as Trustee | as Trustee |
| By: | /s/ Glenn McKeever |
|  | Name: Glenn McKeever |
|  | Title: Vice President |

---

[Signature Page to Eleventh Supplemental Indenture]