U.S. Steel Shareholders Overwhelmingly Endorse Merger with Nippon Steel Corporation

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In a significant development, United States Steel Corporation has received resounding approval from its shareholders for the proposed merger with Nippon Steel Corporation. The preliminary vote count reveals that over 98% of the shares voted at the Special Meeting, constituting approximately 71% of U.S. Steel’s total outstanding common stock, were in favor of adopting the merger agreement.

David B. Burritt, President & Chief Executive Officer of U.S. Steel, conveyed gratitude for the robust support from shareholders, underscoring the compelling rationale behind the merger with NSC. He remarked, “This overwhelming support from our stockholders is a clear endorsement of the compelling rationale for our transaction with NSC. This is an important milestone as we progress toward completing the transaction.”

Burritt further outlined the merger’s advantages for various stakeholders, including employees, customers, communities, and stockholders, as well as for the United States and Pennsylvania. He emphasized that the merger would establish the “Best Steelmaker with World-Leading Capabilities,” fostering a stronger entity to support employees and uphold commitments, offer advanced capabilities and innovations to customers, and invest in environmentally sustainable steel to align with climate objectives.

The merger is anticipated to fortify both U.S. Steel and the domestic steel sector, bolstering their competitiveness amid challenges such as unfair competition from China. U.S. Steel will disclose the final, certified voting results in a Form 8-K filing with the U.S. Securities and Exchange Commission at a later juncture.