ｰﾙﾃﾄｵｼｺｽ Employees to Rally in Support of Nippon Steel Transaction

Employees Advocate for Deal Approval to Protect Jobs and Billions in Investment in ｰﾙﾃﾄｵｼｺｽ Union Operations

Call on Governor Shapiro, Senators Casey and Fetterman and Local Elected Officials to Recognize Significant Benefits of the Transaction

PITTSBURGH--(BUSINESS WIRE)-- Employees of ｰﾙﾃﾄｵｼｺｽ (NYSE: X) (窶慍ﾙﾃﾄｵｼｺｽ窶�) today will host a rally at the ｰﾙﾃﾄｵｼｺｽ Tower in Pittsburgh in support of the Nippon Steel transaction. Employees will call on elected officials in Pennsylvania and across the nation to recognize the significant merits of the transaction for ｰﾙﾃﾄｵｼｺｽ employees, communities, customers, and American steelmaking.

窶弋oday窶冱 rally is about displaying support for the transaction with Nippon Steel. We want elected leaders and other key decision makers to recognize the benefits of the deal as well as the unavoidable consequences if the deal fails,窶� said President and Chief Executive Officer of ｰﾙﾃﾄｵｼｺｽ, David B. Burritt.

Without the Nippon Steel transaction, ｰﾙﾃﾄｵｼｺｽ will largely pivot away from its blast furnace facilities, putting thousands of good-paying union jobs at risk, negatively impacting numerous communities across the locations where its facilities exist, and depriving the American steel industry of an opportunity to better compete on the global stage. In addition to moving away from integrated steelmaking, the lack of a deal with Nippon Steel raises serious questions about ｰﾙﾃﾄｵｼｺｽ remaining headquartered in Pittsburgh. The departure of ｰﾙﾃﾄｵｼｺｽ, a company that has been making steel in the Mon Valley since 1901, would deprive the Pittsburgh area of jobs, tax revenue, and community-based contributions. A shows that ｰﾙﾃﾄｵｼｺｽ窶冱 operations in PA generated $3.6 billion in total economic impact, supported and sustained 11,417 jobs through its operations and purchases from the local supply chain, and generated $138.2 million in state and local taxes as a result of operations and capital spending.

On December 18, 2023, that it would acquire ｰﾙﾃﾄｵｼｺｽ and that together, the companies would create 窶徼he best steelmaker with world-leading capabilities.窶�

ｰﾙﾃﾄｵｼｺｽ on April 12, 2024. More than 98% of the shares that were voted at the Special Meeting voted in favor of the transaction.

On May 30, 2024, that they had received all regulatory approvals outside of the United States related to the proposed transaction.

On August 28, 2024, plans to invest over $2.7 billion in USW-represented facilities at Mon Valley Works in Pennsylvania and Gary Works in Indiana in support of the future of manufacturing for those communities. Those investments are subject to the closing of the transaction with ｰﾙﾃﾄｵｼｺｽ and receipt of necessary regulatory approvals. A stand-alone ｰﾙﾃﾄｵｼｺｽ would not make the same financial commitments.

About ｰﾙﾃﾄｵｼｺｽ

Founded in 1901, ｰﾙﾃﾄｵｼｺｽ is a leading steel producer. With an unwavering focus on safety, the Company窶冱 customer-centric Best for All^ﾂｮstrategy is advancing a more secure, sustainable future for ｰﾙﾃﾄｵｼｺｽ and its stakeholders. With a renewed emphasis on innovation, ｰﾙﾃﾄｵｼｺｽ serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as ｰﾙﾃﾄｵｼｺｽ窶冱 proprietary XG3^ﾂｮadvanced high-strength steel. The Company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. ｰﾙﾃﾄｵｼｺｽ is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit .

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