United States Steel : Big River Steel Non-Grain Oriented (NGO) Electrical Steel Line Investment

Big River Steel to

Become the Leader in

Non-Grain Oriented

(NGO) Electrical Steels

Building an NGO electrical steel line at Big River Steel

June 8, 2021

Forward-looking statements

These slides are being provided to assist readers in understanding the investment in a non-grain oriented (NGO) electrical steel line by United States Steel Corporation.

This presentation contains information that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using the words "believe," "expect," "intend," "estimate," "anticipate," "project," "target," "forecast," "aim," "should," "will," "may" and similar expressions or by using future dates in connection with any discussion of, among other things, operating performance, trends, events or developments that we expect or anticipate will occur in the future, statements relating to volume changes, share of sales and earnings per share changes, anticipated cost savings, potential capital and operational cash improvements, anticipated disruptions to our operations and industry due to the COVID-19 pandemic, changes in global supply and demand conditions and prices for our products, international trade duties and other aspects of international trade policy, the integration of Big River Steel in our existing business, business strategies related to the combined business and statements expressing general views about future operating results. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking.Forward-looking statements are not historical facts, but instead represent only the Company's beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. Our Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, the risks and uncertainties described in this report and in "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020, our Quarterly Reports on Form 10-Q and those described from time to time in our future reports filed with the Securities and Exchange Commission.

References to (i) "U. S. Steel," "the Company," "we," "us," and "our" refer to United States Steel Corporation and its consolidated subsidiaries unless

otherwise indicated by the context and (ii) "Big River Steel" refer to Big River Steel Holdings LLC and its direct and indirect subsidiaries unless otherwise indicated by the context.

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NGO electrical steel line at Big River Steel Summary

• Meeting the growing electric vehicle (EV) demand with the best NGO capabilities
  Funding the investment with cash
• generated from Big River Steel's robust profitability and cash flow
  Delivering unmatched NGO electrical
• steel characteristics compared to less capable domestic competition

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NGO electrical steel line at Big River Steel Summary

Investment Highlights:

		200,000		3Q 2023
		tons
Electrical steel line at		Expected annual		First coil expected in
Big River Steel		production capability		September 2023

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NGO electrical steel line at Big River Steel Meeting the growing electric vehicle demand

Electrical Steels:

focus of

investment

Non-grain oriented (NGO)		Grain oriented (GO)
Ideal for power generation		Ideal for power transfer

Steel grades needed to transform electrical power into usable energy

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