Companhia Siderúrgica Nacional S A : Notice to the Market - Transactions Between Related Parties

NOTICE ON TRANSACTIONS BETWEEN RELATED PARTIES

COMPANHIA SIDERÚRGICA NACIONAL

Publicly Held Company

Corporate Taxpayer's ID 33.042.730/0001-04

NIRE 35-3.0039609.0

Companhia Siderúrgica Nacional (B3: CSNA3; NYSE: SID) in compliance with the provisions of Appendix F of CVM Resolution No. 80, of March 29, 2022), informs its shareholders and the market in general, the following related party transaction:

Name of the Parties

Transaction

Relation to the Company

Transaction Date

Agreement Purpose

Main Terms and Conditions

Companhia Siderúrgica Nacional ("CSN" or "Company") and Banco Fibra S.A. ("Banco Fibra").

Signing of the Purchase and Sale's Private Instrument of Credit without Recourse ("Agreement").

Banco Fibra is a company subject to common control with CSN.

December 27, 2022

It consists of the purchase of credits, by Banco Fibra, arising from CSN's commercial transactions with its customers, without any co-obligation of CSN for the settlement of said credits, under the terms of the Agreement.

The total value of the credits involved in the transaction was BRL382,431,220.50 (Three hundred and eighty-two million, four hundred and thirty-one thousand, two hundred and twenty reais and fifty cents), with an average maturity of 30 days.

If, when, in what way and to what extent the counterparty in the transaction, its partners or directors participated in the process:

1. of the issuer's decision regarding the transaction, describing this participation:
   The decision-making process for carrying out the transaction above involved the analysis of Banco Fibra's proposal by the Company's executives in a comparative way with proposals from other institutions. In order to carry out the Assignment of Receivables without co-obligation, the quotations of several banks were analyzed, and the decision considered the best allocation between rates and volumes within the Company's objectives.
2. of negotiating the transaction as representatives of the issuer, describing this participation:

Detailed justification of the reasons why the issuer's management considers that the

transactionobserved commutative conditions or

provided for adequate

compensatory payment, informing:

As mentioned above in item "a", the preparation of the proposal and the negotiation of the transaction were carried out independently by the Company's executives and Banco Fibra.

1. if the issuer requested proposals, carried out any procedure for taking prices, or tried in any other way to carry out the transaction with third parties, explaining if negative the reasons why it did not do so or, if so, the procedures carried out and their results:
   Similar operations to the one described in this notice are carried out by the Company in the ordinary management of its resources, therefore not being an exclusive operation. In addition, the Company quoted other financial institutions and evaluated the prices and conditions practiced, judging Banco Fibra's conditions as the most favorable for the volume traded. Thus, the Company's management understands that the transaction of Credit Assignment of Receivables without co-obligation with Banco Fibra observed commutative conditions and provided for adequate compensatory payment, since the transaction was carried out under market conditions.
2. the reasons that led the issuer to carry out the transaction with the related party and not with third parties:
   The transaction was carried out with Banco Fibra given that the conditions offered were more beneficial to the Company compared to those offered by other financial institutions, both in terms of financial conditions and the operational viability of the transactions.
3. the detailed description of the measures taken and procedures adopted to guarantee the commutativity of the operation:
   The negotiation of terms and conditions of the transaction took place independently and was conducted directly by the Company's executives, on the one hand, and Banco Fibra, on the other, in order to preserve the commutability of the operation and the best interest of the Company, without the participation of the Company's directors who have a relationship with Banco Fibra.
   The Company's management believes that such procedures were sufficient and adequate to guarantee the commutability of the operation and adequate compliance with the provisions of the
   Company's Bylaws.

São Paulo, January 04, 2023.

Marcelo Cunha Ribeiro

Executive of Finance and Investor Relations