Nippon Steel Corporation announced today that it has determined the terms and conditions for the issue of its 4th, 5th and 6th Series of Unsecured Straight Bonds (with inter-bond pari passu clause) as outlined below.

Series name Nippon Steel Corporation 4th Series Unsecured Straight Bonds Nippon Steel Corporation 5th Series Unsecured Straight Bonds Nippon Steel Corporation 6th Series Unsecured Straight Bonds Total amount of issue JPY 40 billion JPY 30 billion JPY 10 billion Denomination of each bond JPY 100 million Issue price 100% of the principal amount Redemption price 100% of the principal amount Interest rate 0.050% per annum 0.230% per annum 0.420% per annum Maturity date June 20, 2023 June 20, 2025 June 20, 2030 Offering period June 11, 2020 Payment date June 17, 2020 Method of offering Public offering in Japan Method of redemption (1) Bullet maturity (2) Retirement by purchase Collateral The bonds are not secured by any pledge, mortgage or other charge on any assets or revenues of the Company or of others, nor are they guaranteed. There are no assets reserved as security for the bonds. Financial covenants Negative pledge clauses (with inter-bond pari passu clause) attached Interest payment dates June 20 and December 20 of each year

Contact:

Tel: +81-3-6867-2135

Note

This press release has been prepared for the sole purpose of publicly announcing the issuance of the Nippon Steel Corporation's 4th, 5th and 6th Unsecured Bonds, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. This press release is not an offer of securities for sale in the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'Securities Act'). The securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. No securities issued by Nippon Steel Corporation will be publicly offered or sold in the United States in connection with Nippon Steel Corporation's issuance of 4th, 5th and 6th Unsecured Bonds.

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