Advancing Vision to Forge the Future of American Steelmaking

Targets $14 Billion of Growth Capital, with $11 Billion to be Invested by 2028, to Protect and Create More Than 100,000 Jobs

Unlocks approximately $3 Billion in Value and Builds a Stronger, More Competitive U. S. Steel for the Benefit of Employees, Customers, and Communities

United States Steel Corporation (“U. S. Steel”) today outlined its next era of growth in its partnership with Nippon Steel, including significant capital investments and world‑class technology sharing that will forge the future of the American steel industry.

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In this next chapter with Nippon Steel, U. S. Steel is advancing a multi‑year growth plan that targets approximately $14 billion of U.S. growth capital, with $11 billion to be invested by the end of 2028. The opportunity ahead is once-in-a-generation for both U. S. Steel and Nippon Steel, with the potential to unlock approximately $3 billion in value, including approximately $2.5 billion in incremental run-rate EBITDA unlocked through capital investments and another approximately $500 million identified from operational efficiencies.

With the introduction of Nippon Steel’s technological expertise to U. S. Steel’s operations, the companies have identified over 200 initiatives to drive operational efficiencies across all business segments. Both companies are focused on delivering these operational efficiencies and cost improvements to fund this next leg of growth.

The partnership is also leveraging world‑class technology sharing to enhance product quality, expand premium offerings, and accelerate time‑to‑market. With a focus on modernizing and expanding manufacturing operations, building product capabilities, and expanding R&D to serve customers with higher‑value, lower‑emission steel solutions, the plan is designed to protect and create more than 100,000 jobs nationwide in the United States, while strengthening the communities in which U. S. Steel operates.

U. S. Steel’s CEO Dave Burritt stated: “Even just a few months into our partnership with Nippon Steel, we’re making great progress. We have a robust pipeline of growth projects, ranging from the modernization of our Gary Works Hot Strip Mill to the new slag recycler at Mon Valley Works and the development of new product capabilities. These initiatives are already delivering real results. With world-class technology, extraordinary engineering capabilities, and the best steel industry employees in the world, we are on a great path to forging the future of steelmaking in America. I’m confident that our employees’ grit, dedication and commitment, coupled with Nippon Steel’s investments in our business, will position U. S. Steel for greatness. We are well on our way to building a stronger, more competitive company that benefits our employees, customers, and the communities we serve.”

Takahiro Mori, Nippon Steel’s Representative Director and Chairman of the U. S. Steel Board, said, “It is impressive to see how our two great companies have already created increased value and growth. By uniting Nippon Steel’s world‑leading technologies with U. S. Steel’s iconic American operations, we are forging a stronger, more competitive platform for the future. Our technology and investment are anchored in revitalizing, enhancing and expanding U. S. Steel facilities. I am confident that as we continue to combine Nippon Steel’s technological expertise with U. S. Steel’s operations, we will create additional value for stakeholders and see further growth and financial benefits to come. Importantly, we contribute to strengthening the American steel industry and expanding job opportunities across the United States, ensuring long-term benefits for employees, customers, and local communities.”

U. S. Steel has established strong momentum across critical initiatives during its first few months in partnership with Nippon Steel and is executing with urgency and discipline. To date, nearly 50 professionals from Nippon Steel have been deployed across U. S. Steel sites, forming one unified team focused on execution and long-term value creation. Together, U. S. Steel and Nippon Steel are advancing operational excellence through improved production practices, rigorous business case development, and enhanced engineering expertise to support stronger, more resilient steelmaking performance. The partnership has fostered a high-performing, integrated team committed to execution, operational excellence, and unlocking operational efficiencies to drive long-term value.

About U. S. Steel

Founded in 1901, U. S. Steel delivers profitable and sustainable steel solutions. Propelled by its talented employees and an unwavering focus on safety, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products. Steel production begins with our competitively advantaged iron ore production capabilities which fuel our integrated steelmaking facilities and investments in electric arc furnaces. To help our customers create the best products with the fewest emissions, we are committed to reaching net-zero greenhouse gas emissions by 2050. U. S. Steel is at the forefront of creating steels that are stronger, lighter, and better for the environment. This includes our proprietary XG3^® advanced high-strength steel, verdeX^® steel produced with 70-80% lower CO² emissions with a recycled content of up to 90%, and ultra-thin lightweight InduX™ steel for electric vehicles, generators, and transformers. U. S. Steel maintains operations across the United States and in Central Europe and is headquartered in Pittsburgh, Pennsylvania. For more information, please visit www.ussteel.com and follow U. S. Steel on LinkedIn, Instagram, Facebook, and X.

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