Nippon Steel : Regarding the “Notice Concerning Changes in Representative Directors, Directors and Audit & Supervisory Board Members” Published by Tokyo Rope Mfg.

This document is an English translation of the official Japanese version of the Press Release (the "Official Japanese Version"). This English translation was prepared for your reference, to help you understand what is stated in the Official Japanese Version. In the event of any discrepancy between the Official Japanese Version and this English translation, the Official Japanese Version will prevail.

To Whom It May Concern,	April 26, 2021
Company name:	Nippon Steel Corporation
Representative:	Eiji Hashimoto, Representative Director and President
Stock listing:	First Section of the TSE, First Section of the NSE, FSE, and SSE
Code number:	5401
Contact:	Shinnosuke Arita, General Manager, Public Relations Center
Telephone:	[phone], 2146, 2977, 3419

Regarding the "Notice Concerning Changes in Representative Directors, Directors and Audit & Supervisory Board Members" Published by Tokyo Rope Mfg. Co., Ltd.

Today, Tokyo Rope Mfg. Co., Ltd. ("Tokyo Rope") published the "Notice Concerning Changes in Representative Directors, Directors and Audit & Supervisory Board Members" (the "Press Release").

Following the completion of the tender offer for Tokyo Rope's shares, Nippon Steel Corporation ("NSC") has had discussions with Tokyo Rope regarding Tokyo Rope's management and governance systems which would be necessary to recover and improve its corporate value. NSC understands that the contents of the Press Release were decided by Tokyo Rope based on the discussions between Tokyo Rope and NSC.

NSC, as a shareholder of Tokyo Rope, considers that Tokyo Rope's new management structure published in the Press Release will contribute to the recovery and improvement of Tokyo Rope's corporate value in the future.

End