JFE : Financial Results for Fiscal Year 2020 ended March 31, 2021

Securities Code: 5411.T

JFE Group

Financial Results for Fiscal Year 2020

ending March 31, 2021

JFE Holdings, Inc.

May 7, 2021

A table of contents

• JFE Holdings' Financial Results for Fiscal Year 2020 (April 1, 2020 to March 31, 2021)
• Business Performance by Segment
• • JFE Steel
  • JFE Engineering
  • JFE Shoji
• Dividends
• JFE Holdings' Financial Forecasts for Fiscal Year 2021 (April 1, 2021 to March 31, 2022)

This presentation material is for information and discussion purpose only.

Any statements in the presentation which are not historical facts are future projections based on certain assumptions and currently available information. Please note that actual performance may vary significantly due to various factors.

2

JFE Holdings' Financial Results

for Fiscal Year 2020

(April 1, 2020 to May 31, 2021)

3

JFE-HD

Financial Results for Fiscal Year 2020

• In 1H, COVID-19 pandemic resulted in a significant business loss.
• In 2H, business profit posted a profit due to the recovery of steel demand and steel market price from the latter half of 1H, and promotion of profit improvement measures. In spite of the recovery in 2H, business profit for FY2021 was -12.9billion yen, increased by 19.1 billion yen from the previous forecast.

	FY2019	FY2020	FY2020 (Actual)
（billion yen）	Previous			Full Year
Actual(A)	Forecast	1H	2H
		(B)			(C)
Revenue	3,729.7	3,240.0	1,492.2	1,734.9	3,227.2
Business Profit	37.8	(32.0)	(114.3)	101.4	(12.9)
Finance	(12.5)	(13.0)	(6.4)	(6.0)	(12.4)
Income/costs
Segment Profit	25.3	(45.0)	(120.7)	95.3	(25.4)
Exceptional Items	(238.8)	22.0	－	20.4	20.4
Profit before Tax	(213.4)	(23.0)	(120.7)	115.8	(4.9)
Tax Expense and
Profit (Loss)	15.7	(15.0)	15.0	(32.0)	(16.9)
Attributable to Non-
Controlling Interests
Profit Attributable	(197.7)	(38.0)	(105.7)	83.8	(21.8)
to Owners of Parent

Change Change

(C-A)(C-B)

(502.5) (12.8)

(50.7) 19.1

0.1 0.6

(50.7) 19.6

259.2 (1.5)

208.5 18.1

(32.6) (1.9)

175.9 16.2

Business profit is profit before tax excluding financial income and one-time items of a materially significant value. Segment profit is profit	4
including financial income in business profit.

JFE-HD

Financial Results for Fiscal Year 2020 (by Segment)

			FY2019	FY2020		FY2020 Actual			Change	Change
			Previous
	（billion yen）	Actual			Full
	Forecast	1H	2H		(C-A)	(C-B)
			(A)
			(B)			Year(C)
Revenue
	Steel Business	2,681.3	2,260.0	1,027.2	1,227.9	2,255.2		(426.1)	(4.8)
	Engineering		512.2	490.0	221.9	263.7	485.7		(26.5)	(4.3)
	Business
	Trading Business	1,084.1	940.0	451.7	480.7	932.5		(151.6)	(7.5)
	Adjustments		(548.0)	(450.0)	(208.6)	(237.5)	(446.1)		101.9	3.9
	Total	3,729.7	3,240.0	1,492.2	1,734.9	3,227.2		(502.5)	(12.8)
Business Profit	(A）	37.8	(32.0)	(114.3)	101.4	(12.9)		(50.7)	19.1
Finance Income/Costs(B）	(12.5)	(13.0)	(6.4)	(6.0)	(12.4)		0.1	0.6
Segment Profit
	Steel Business	(8.7)	(80.0)	(136.2)	70.8	(65.4)		(56.7)	14.6
	Engineering		23.1	22.0	8.7	15.3	24.0		0.9	2.0
	Business
	Trading Business	27.0	17.0	7.2	12.8	20.0		(7.0)	3.0
	Adjustments		(15.9)	(4.0)	(0.4)	(3.6)	(4.1)		11.8	(0.1)
	Total (A+B）	25.3	(45.0)	(120.7)	95.3	(25.4)		(50.7)	19.6