United States Steel Corporation · NYSE:X

United States Steel — Merger or Acquisition (February 2024)

5 slides from United States Steel's merger presentation, Feb 2, 2024

  1. Slide 1: Summary: Advancing Towards Our Best for All Future

    5 SUMMARY: ADVANCING TOWARDS OUR BEST FOR ALL® FUTURE Current Landscape Strong 2023 with BEST performance • BEST Safety: 0.04 DAFW1 , 15x better than the industry • BEST Partner to the marketplace: Providing the steels our customers crave • BEST stockholder return in the sector: 96% TSR2 Bullish for

  2. Slide 2: Nippon Steel & U. S. Steel: Creating a Global Steel Leader in Value and Innovation

    6 NIPPON STEEL & U. S. STEEL: CREATING A GLOBAL STEEL LEADER IN VALUE AND INNOVATION ✓ ✓ ✓ Moving forward together as the ‘Best Steelmaker with World-leading Capabilities’ Incorporating Nippon Steel’s world-class electrical and advanced high-strength auto steels Combining best-in-class technologies

  3. Slide 3: Best Steelmaker with World-leading Capabilities

    7 ‘Best Steelmaker with World-leading Capabilities’ NGO electrical steel can be used in motor cores for electric vehicles (EVs) and contribute to higher performance Meeting the growing electrical steel demand Combining Best-in-class Capabilities and Innovation ~$522M 2022 research & development spen

  4. Slide 4: Nippon Steel & U. S. Steel: Maximizing Stockholder Value

    8 NIPPON STEEL & U. S. STEEL: MAXIMIZING STOCKHOLDER VALUE Premium for stockholders The $55.00 per share transaction price represents a +40% premium to U. S. Steel’s closing stock price on December 15, 2023; +142% premium to the undisturbed price prior to the announcement of the strategic alternativ

  5. Slide 5: Transaction Overview: Like-Minded Steel Companies

    9 TRANSACTION OVERVIEW: LIKE-MINDED STEEL COMPANIES Unwavering commitment to safety Safety performance of both organizations are multiples better than the industry average Ethical business practices Shared goals and values Committed to decarbonization; shared 2050 targets Promoting hydrogen and CCUS

United States Steel — Merger or Acquisition (February 2024) on 6ix