The Business Integration of Nippon Steel and Sumitomo Metals Has Been Approved by the Japan Fair Trade Commission

Today, Nippon Steel Corporation (President: Shoji Muneoka; “Nippon Steel”) and
Sumitomo Metal Industries, Ltd. (President: Hiroshi Tomono; “Sumitomo Metals”)
(collectively, the “Companies”) received from the Japan Fair Trade Commission (“JFTC”) a
“Notification To The Effect That a Cease and Desist Order Will Not Be Issued”, which
means that the business integration of Nippon Steel and Sumitomo Metals (the “Business
Integration”) has thereby been approved by the JFTC.

The Companies agreed to commence their consideration of the Business Integration in
February 2011, and the JFTC has been conducting its review of the Business Integration since
the submission by the Companies on May 31, 2011 of “Notification of a Plan Regarding The
Merger”. The Companies sincerely appreciated the intense review of the JFTC in a short
period and understand that the JFTC has conducted its review with due regard to the actual
conditions of competition in the relevant markets.

The Companies have agreed to proceed with the Business Integration, aiming to become
“The Best Steelmaker with World-Leading Capabilities.” Since the Business Integration has
been approved by the JFTC, the Companies will further accelerate their efforts to prepare for
the Business Integration. The Companies will continue to make every effort to obtain any
necessary approvals from the relevant authorities outside of Japan. The Business Integration
is scheduled to be fully consummated on October 1, 2012 after a merger agreement is
executed in April and such merger agreement is approved at the Companies’ respective
shareholders’ meetings in June 2012.

[Contact Information]
Nippon Steel Corporation: Public Relations Center, General Administration Div.
Tel: +81-3-6867-2135, 2146 or 2147
Sumitomo Metal Industries, Ltd.: Public Relations Group
Tel: +81-3-4416-6115

Note:
For additional details regarding the results of the JFTC’s review of the Business
Integration, please visit the following website: