Investment in Galvanizing Mill in the United Arab Emirates

Nippon Steel Corporation (President: Shoji Muneoka; hereinafter referred to as “NSC”) is pleased to announce that NSC has reached an agreement with the shareholders of Al Ghurair Iron & Steel L.L.C. (CEO: Mr. Abu Bucker Husain; hereinafter referred to as “AGIS”) with regard to an equity investment in AGIS through a share transfer. AGIS manufactures and sells hot-dip galvanized steel sheets under the management of the Al Ghurair Group, which is one of the largest conglomerates in the United Arab Emirates (“UAE”). Through this transaction, NSC is to secure 20% of voting rights in AGIS, with AGIS becoming an equity method affiliate of NSC for accounting purposes.