China Steel : The tenth meeting of the 18th Board of Directors of China Steel Corporation (CSC) was held on February 29, 2024

The tenth meeting of the 18^thBoard of Directors of China Steel Corporation (CSC) was held on February 29, 2024. Major resolutions were:

1. Appropriation of distributable earnings for 2023
The meeting proposed to appropriate NT$1.4 and NT$0.35 per share for dividends of preferred stocks and common stocks respectively. The above proposal will be submitted to the 2024 stockholders' meeting for recognition.

2. Revamp Project of #23 hot stove of No.2 blast furnace
In order to stabilize blast furnace operations and ensure smooth production, CSC will invest NT$641 million in the revamping of #23 hot stove of No.2 blast furnace. It is scheduled to commence on November 1, 2024 and for completion on December 31, 2027, spanning a period of 3 years and 2 months.

3. Replacement-in-kind turbine rotor of 5# turbine generator of power plant
CSC will invest NT$315 million in the replacement-in-kind turbine rotor of #5 turbine generator of power plant. With the completion of this project, the operational stability of #5 turbine generator can be ensured in order to sustain the continuous steam production and electricity generation. It is scheduled to commence on March 1, 2024 and for completion on June 30, 2027, spanning a period of 3 years and 4 months.

4. The sixth collective agreement draft with the Labor Union of CSC was approved, and the agreement is scheduled to be signed by both parties on March 15.
CSC and the Labor Union of CSC started the sixth collective agreement draft consultation on July 7, 2023, and both the parties based on the concept of labor and capital as a unified entity during negotiation process. After just 7 consultation meetings over 5 months, a consensus of 80 collective agreement draft articles was reached. The resolutions of collective agreement draft were passed at the third congress of the 14th delegates of the Labor Union of CSC on December 21, 2023, and at the tenth meeting of the 18th Board of Directors of CSC, respectively. The agreement is scheduled to be signed by both the parties on March 15, 2024.
In accordance with relevant labor law change, CSC and the Labor Union of CSC keep the content of the collective agreement up to date with times. It is aimed not only at safeguarding employees' benefit, but enhancing sustainable development of CSC. The negotiation process demonstrates the stable and harmonious relationship between both parties, achieving mutually beneficial outcomes through positive interaction and communication.

5. Date and venue for CSC's 2024 shareholders' meeting
Date: June 19, 2024 (Wednesday) 9:00 a.m.
Place: CSC (No.1, Chung Kang Rd., Hsiao Kang District, Kaohsiung, Taiwan, R.O.C)
Date and place for accepting stockholders' proposals
Date: April 15-24, 2024
Place: CSC Building (No.88, Cheng Gong 2nd Rd., Qianzhen District, Kaohsiung, Taiwan, R.O.C.)