The Board of Directors of Nippon Steel Corporation ('the Company') held a meeting on February 7, 2020 and decided to revise its forecasts for the year-end dividend from retained earnings as follows.

Reason for Revision to Dividend Forecast While a year-end dividend distribution plan for the current fiscal year ending March 31, 2020 had not been determined at the time of the first-half earnings announcement (November 1, 2019), the Company has decided that, in accordance with the basic profit distribution policy and after giving due consideration to full-year forecasts, it plans to forgo a year-end dividend payment for the current fiscal year (the dividend for the full fiscal year will therefore be JPY10 per share). Please also refer to the 'Announcement of Revision to Forecasts of Operating Performance' released today.

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