Companhia Siderurgica Nacional · BMFBOVESPA:CSNA3
Companhia Siderurgica Nacional — National Steel — Corporate Update (January 2026)
12 slides from Companhia Siderurgica Nacional's corporate update, Jan 15, 2026
Slide 1: Notice to the Market: Strategic Update Meeting
Notice to the Market Strategic Update Meeting Grupo CSN January/2026
Slide 2: Forward-looking statements disclaimer
Ae, CM7S os {this presentation. uniess the cor ocd ates leencent “Company. “ss"and "0 rt Compara neolidated subsidiaries it joint ventures and other afiiated compan 38 forward-looking sta re expectations or tends and are based onthe current assumptions and opinionsof he Company's Management,as wella
Slide 3: Overview | Transformation and Long-Term Vision
Overview | Transformation and Long-Term Vision With the goal of unlocking the enormous value potential of the CSN Group, through the development of mining and infrastructure projects under CSN's control that offer high returns, the Company obtained Board approval to begin in 2026 the strategic moves
Slide 4: CSN Mineração: High Performance as the Group's Main Growth Avenue
CSN Mineragao High Performance as the Group’s Main Growth Avenue > 7th largest iron ore exporter worldwide > Track record of operational milestones supported by strong EBITDA generation and high profitability > Extended mine life supported by ~2.5 bil ® Accelerated expansion of P15 is expected to dr
Slide 5: CSN Infra
Ponta da Madeira TISA A @ Salvador Lf m= @ tubara os @ Tubarao @Acu PSB 1nd OD fees © Ports Operated by CSN A Railway © Other Strategic Ports All maritime terminal NORDESTE LOGIETICA SA. (= NELOG CSN Infra World-class assets with a clear and scalable growth path aligned with market demand h Integrat
Slide 6: CSN Cement: Brazil's Leading Integrated Cement Producer
CSN Cement Brazil's Leading Integrated Cement Producer e » Leadership in integrated cement production in Brazil, with a competitive cost ne structure and higher margins 2 > Unique growth potential in the market with greenfield (+12 Mtpa) and brownfield Nay (+14 Mtpa) projects in advanced-stage » Dif
Slide 7: Ongoing recovery in profitability
Ongoing recovery in profitability One of Brazil's largest Irreplicable asset with a gic with a strong focus on products and integrated solutions Presence in key markets in c Strategy: Assessment of strategic alternatives and partnerships aimed at maximizing short-term cash generation EBITDA and Marg
Slide 8: CSN Energy
CSN Energy One of the Largest and Most Competitive Renewable Energy Platforms in Brazil > High-return, low-risk business profile » Self-suffi iency in renewable energy since 2023 » Support to the Group's businesses through a material reduction in energy costs > Resilient results with strong cash gen
Slide 9: Deleveraging Roadmap | Execution
Deleveraging Roadmap | Execution Strategy The main strategic initiatives identified are highlighted below.: Projected Timeline CSN Infra 03) Sale of CSN's relevant stake in Newco CSN Infrastructure Start: January/26 Signing: 39 - 4926 fel CSN Cement Sale of control of CSN Cement Start: January/26 Si
Slide 10: Liability Management | Sources and Uses
Liability Management| Sources and Uses 3Q25 Pro-Forma Leverage (R$ Billion |x) Indebtedness Profile (R$ a, —— 4120 Reduetionfocus | ane 15-18 j i un Z copter ote 78 Mi 7 ' | mt aa ! 13s _ 7 20 10.7 1 _ = | 2a 5A 32 We 30 13 10 31 3Q25 Proforma t Sources of 2027 2028 12028 ©2030-2021 «2032-2033 2088+
Slide 11: Final Considerations
Final Considerations > Focus on profitability across core businesses to maximize cash flow generation > Material reduction in the CSN Group’s gross debt and leverage > Efficient and disciplined capital allocation with a strict leverage target
Slide 12: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 15, 2026 COMPANHIA SIDERÚRGICA NACIONAL By: / S / Benjamin Steinbruch Benjamin Steinbruch