Nippon Steel : Regarding Media Reports on Our Business in China

April 6, 2024

Nippon Steel Corporation

Regarding Media Reports on Our Business in China

Certain media outlets reported that, in connection with Nippon Steel Corporation's (Nippon Steel) acquisition of United States Steel Corporation (U. S. Steel), Nippon Steel has an office in Xinjiang Uygur Autonomous Region of China. However, that is false. It was also reported that Nippon Steel supports the Chinese government's strategy regarding military industry, which is also false.

Nippon Steel's operations in China are only downstream business, and have no upstream facilities such as blast furnaces or electric arc furnaces, which create a major portion of added value in the steel industry. Also, in China, Nippon Steel does not manufacture products that impact national security. Nippon Steel's primary joint venture in China manufactures automotive steel sheets, but such automotive steel sheets are not exported from China to the U.S. All of the other Nippon Steel's operations in China are small and account for a very limited portion of its global steelmaking business.

Through increased financial investment and the contribution of our advanced technologies to U. S. Steel, Nippon Steel will enhance the superiority of the U.S. and strengthen American supply chains by supplying steel products and services with greater quality and competitiveness to customers, including those in the critical industries in the U.S.

Nippon Steel will take resolute action against false reports or groundless accusation and is determined to complete this transaction. We will continue to engage in dialogue with relevant stakeholders, including the United Steelworkers (USW), government authorities and local communities.

Contact: Public Relations Center, General Administration Department

Phone: [phone], 2135, 2146, 3419

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