9da47fcb-e3f1-4fa4-a889-72e9bdd5b5ed.pdf NOTICE TO THE MARKET COMPANHIA SIDERÚRGICA NACIONAL Publicly-Held Company

Corporate Taxpayer's ID (CNPJ/MF): 33.042.730/0001-04 Company Registry (NIRE): 35-3.0039609.0

COMPANHIA SIDERÚRGICA NACIONAL ("CSN"), pursuant to CVM Instruction 358/02, hereby informs its shareholders and the market in general that it has become aware through the media that the Federal Accounting Court has forbidden new transfers of public funds to Transnordestina Logística S.A. ("TLSA") by Valec Engenharia, Construções e Ferrovias S.A., the Northeast Investment Fund - FINOR, the Northeast Constitutional Financing Fund - FNE, the Northeast Development Fund - FDNE, the Brazilian Development Bank - BNDES and BNDES Participações S.A. - BNDESPar, for the construction works of the Transnordestina Railway (Malha II). This information was the subject of a TLSA Material Fact dated May 19, 2016.

The Malha II terms of conclusion were adjusted in 2013 and envisaged financing and transfers, both public and private, of around R$11.2 billion for the construction of 1,700 kilometers of track, R$6.2 billion of which had already been invested through April 2016. CSN is responsible for transferring or making available R$5 billion and the federal government is responsible for transferring or making available, through various entities, R$6.2 billion. It is worth noting that a good deal of the federal government financing is guaranteed by CSN.

CSN understands the difficulties the government is facing due to the economic crisis, with consequent delays in the transfer of public funds, but hopes that they will be overcome so that the project can resume its pace. It is important to emphasize that, up until now, CSN has never failed to transfer its own agreed-upon funds within schedule.

Fifty-six percent of the Transnordestina Railway works are concluded and 600 km of track is ready. This project will transform the Northeast, taking economic development and the creation of jobs to the Brazilian savannah region.

São Paulo, May 20, 2016.

Paulo Rogério Caffarelli

Investor Relations Officer

CSN - Companhia Siderúrgica Nacional published this content on 20 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 May 2016 12:22:07 UTC.

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