ｰﾙﾃﾄｵｼｺｽ Employees to Host Rally at Mon Valley Works Clairton Plant to Fight for their Futures in Support of Nippon Steel Transaction

Nippon Steel Has Committed to $5,000 Bonuses for ｰﾙﾃﾄｵｼｺｽ Employees

Advocating for Transaction to be Approved on its Merits

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 Mon Valley Works Clairton Plant in support of the Nippon Steel transaction. Represented and non-represented employees, along with community members and local elected officials, will gather to reinforce their support for the transaction. They will again call on officials across the nation to recognize the significant benefits this transaction holds for employees and other stakeholders and to advocate for regulatory reviews to be focused on the merits of the deal. Earlier this week, Nippon Steel announced that all eligible USW-represented ｰﾙﾃﾄｵｼｺｽ employees and eligible non-represented employees will receive a $5,000 bonus within 30 days of deal closing. Altogether, the Closing Bonus will result in a nearly $100 million aggregate payment to qualifying employees. *

窶廾ur employees and community members are rallying once again to show the unrelenting support for the transaction with Nippon Steel. This transaction strengthens U.S. national security, economic security, and job security, creating the best possibility for ｰﾙﾃﾄｵｼｺｽ to get better AND bigger. This transaction with Nippon Steel is the only scenario where significant investments would occur across the unionized, integrated facilities, including in Mon Valley Works. We need to get the deal done,窶� said President and Chief Executive Officer of ｰﾙﾃﾄｵｼｺｽ, David B. Burritt.

The partnership with Nippon Steel will strengthen the American steel industry, protect jobs, and uplift the communities that have been so integral to the success of ｰﾙﾃﾄｵｼｺｽ over the past century. Nippon Steel has committed to investing no less than $2.7 billion in ｰﾙﾃﾄｵｼｺｽ窶冱 union-represented facilities and communities, including no less than $1 billion in Mon Valley Works. Nippon Steel has outlined its commitments in detail and responded to expressed concerns from USW International President Dave McCall .

窶廬 walk the floor every day at the Clairton Plant, talking to many USW members and multi-generation steelworkers. We want a future that is strong and secure for us, for our families, and for the Mon Valley. We have learned about the partnership with Nippon Steel and met with Nippon Steel窶冱 leaders and are confident that this transaction is the best way to achieve that. Their commitment to invest in our Mon Valley Works facilities is essential to supporting the next generation of steelmaking in Pennsylvania,窶� said Richard Tikey, USW-Represented Maintenance Technician, ｰﾙﾃﾄｵｼｺｽ Mon Valley Works.

In Pennsylvania alone, Nippon Steel窶冱 investment is expected to generate $1 billion in economic impact and up to $40 million in state and local taxes, and create 5,000 construction jobs, in the first two years. Learn more about the economic impact the investment is expected to have

"ｰﾙﾃﾄｵｼｺｽ is a mainstay of life in Western PA and an engine of prosperity for our people. Under the new partnership with Nippon Steel, ｰﾙﾃﾄｵｼｺｽ will gain new investments, new technology, and modernization that will keep production in the Mon Valley for generations to come. We need political leaders to join the local labor, business, and civic leaders who are embracing this opportunity and the prosperity it will bring," said David N. Taylor, President & CEO, Pennsylvania Manufacturers' Association.

*$100 million aggregate commitment inclusive of 竄ｬ3,000 Closing Bonuses to employees in Europe following the close of the transaction.

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 .

View source version on businesswire.com:

ｰﾙﾃﾄｵｼｺｽ Media Relations
T - (412) 433-1300
E - media@uss.com

Source: ｰﾙﾃﾄｵｼｺｽ