Usinas Siderurgicas de Minas Gerais S A Usiminas : Reference Form 2023

Usiminas Headquarters

6594 Contorno Avenue

Savassi | 30.110-110

Belo Horizonte - MG

www.usiminas.com

(Free Translation: For reference only - Original in Portuguese)

REFERENCE FORM

Base date: 12/31/2022

According to Annex C of CVM1 Ruling No. 80

Usinas Siderúrgicas de Minas Gerais S.A. - USIMINAS

Publicly-traded Company

CNPJ/MF2 No. 60.894.730/0001-05

NIRE3 313.000.1360-0

1. Brazilian Securities and Exchange Commission ("CVM")
2. Brazilian IRS Registry of Legal Entities
3. Number of Enrollment with Commercial Registry

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Usiminas Headquarters

6594 Contorno Avenue

Savassi | 30.110-110

Belo Horizonte - MG

www.usiminas.com

(Free Translation: For reference only - Original in Portuguese)

Summary

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Usiminas Headquarters

6594 Contorno Avenue

Savassi | 30.110-110

Belo Horizonte - MG

www.usiminas.com

(Free Translation: For reference only - Original in Portuguese)

REFERENCE FORM

Base date: 12/31/2022

1. Activities of the issuer

1.1. Brief History of the issuer

HISTORY CYCLES OF THE COMPANY

FOUNDATION (1956-1958)

In an optimistic background created by the Development Plan of president Juscelino Kubitscheck - JK, the Company is founded on April 25, 1956. In June 1957, the Lanari-Horikoshi agreement consolidated the Japanese interest in the company, which received the financial investment of the governments of Minas Gerais, Brazil, and Japan. On August 16, 1958, JK thrust in the initial stake for the construction of the plant in Ipatinga, then a village with 300 inhabitants.

CONSTRUCTION (1959-1962)

Ipatinga lacks the infrastructure required to shelter the 10 thousand workers estimated for the construction works of the Company, which prepares an urbanization plan for the city and creates conditions to receive both the employees and the civil construction workers. On October 26, 1962, president João Goulart lights the first blast furnace and launches the plant, then with capacity to produce 500 thousand tons of iron annually.

SOCIAL INVESTMENT (1965)

The year is a benchmark for the social friendly operation of the Company. On May 1, 1965, the Company lays the foundation of Márcio Cunha Hospital. In the same year the population of Ipatinga receives the

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Usiminas Headquarters

6594 Contorno Avenue

Savassi | 30.110-110

Belo Horizonte - MG

www.usiminas.com

(Free Translation: For reference only - Original in Portuguese)

facilities of a pulmonology center, a preventive medicine center, three policlinics with dental offices, an emergency room - located inside the plant - and one childcare clinic.

1st EXPANSION CYCLE (1969-1974)

Brazil experiences a strong economic growth period and the Company commences its first expansion cycle, which boosts the production capacity to 1.4 million tons p.a. In 1970, with the foundation of Usiminas Mecânica, it starts to serve both the civil construction and mechanics sectors. Next year the Research Site starts to develop its own projects and operates in technology transfer. In 1974, with the inauguration of blast furnace 3, the annual production capacity reaches 3.5 million tons of steel p.a.

BEATING RECESSION (1980)

The Company reacts to the financial crisis the Country is going through with an internal economy program, applying a new system of smart, more flexible management, thus improving the use of physical, financial and human resources. The Company changes its central office to the new building main office, in the region of Pampulha, in Belo Horizonte.

ENVIRONMENTAL INVESTMENT (1984)

The Company pioneers in the State of Minas Gerais the Project Xerimbabo, which means "pet" in tupi, whose objective is to develop courses, seminars and exhibits focusing on environmental education.

PRIVATIZATION AND MODERNIZATION (1991)

On October 24, 1991, the Company becomes the first state-owned company to be privatized by the National Privatization Program. Next it receives investments of US$ 2.1 billion in technological updates to increase and optimize the production and boost the environmental protection. In November of that year, the company's shares start to be trade on BM&FBOVESPA S.A. - Bolsa de Valores, Mercadorias e Futuros.

MERGER AND PIONEERING (1993-1996)

Companhia Siderúrgica Paulista (Cosipa), one of the Country's largest plants, with principal place of business in Cubatão (SP), is acquired by the Company, which invests in technological update, environmental recovery and safety. Still in 1993, electrolytic galvanization is launched at the Ipatinga plant, with investment of US$ 228 million. In 1996, the Ipatinga plant becomes the first company in Brazil and the second in the world to receive the certification of ISO 14001 concerning respect to environment and environmental protection.

RESTRUCTURING (1998-2001)

The current ownership of Usiminas is the result of a corporate restructuring that took place between 1998 and 2001 and involved Usiminas and Cosipa, through which Usiminas became the single shareholder of Cosipa. The restructuring consisted of reallocation of assets and liabilities between Usiminas and Cosipa, so that at the end of the process the former Usiminas could merge with the former Cosipa, which changed its designation and principal place of business, thus creating the current Usiminas, and the principal assets of the former Cosipa were transferred to the new company, Usiminas.

It was centralized in Usiminas the right to use the Terminal of Cubatão and the correlated activities, the right to use the oxygen plant and explore gases generated in the steelworks process developed in

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Usiminas Headquarters

6594 Contorno Avenue

Savassi | 30.110-110

Belo Horizonte - MG

www.usiminas.com

(Free Translation: For reference only - Original in Portuguese)

Cubatão, as well as assumption of short-term indebtedness, in addition to the issue, by Cosipa, of debentures convertible into shares, which were subscribed for by Usiminas and converted into shares in October 2001, with its subsequent growing interest from 32% to 93% of the total capital of Cosipa.

In 1999, following investment of US$ 852 million, the company launches the Country's most modern cold roll laminating line - Cold Roll Laminating 2, with yearly production capacity of 1 million tons. In the same year, Unigal Ltda. ("Unigal"), a steel plate galvanizing company is created for the manufacture of automobiles, home appliances, civil construction, among other.

INTEGRATION (2005-2006)

Usiminas executed public offer for the acquisition of remaining shares issued by Cosipa, withheld by its minority shareholders, held through auction in BOVESPA and finished on March 18, 2005 with the purpose of annulling the registration of public-traded company of Cosipa. The registration of public- traded company held by Cosipa was annulled on April 5, 2005.

With capital going private, Cosipa commences to be the Company's wholly-owned subsidiary. Also, in 2005, the company discloses partnership with Grupo Techint and interest of 14.2% in the steel company Ternium, thus forming a company with installed capacity of 12 million tons/p.a. In November 2006, shareholders execute a new agreement, which strengthens the control group and reaffirms the commitment towards the continuous improvement of its production process.

TERNIUM/TENARIS ENTRY INTO THE CONTROLLING GROUP (2012)

The year 2012 was marked by the entry of Ternium/Tenaris, to replace Votorantim and Camargo Correa, in the control group formed by the shareholders Nippon Steel Corporation "NSC" (formerly called Nippon Steel & Sumitomo Metal Corporation) and Previdência Usiminas, which signed a Shareholders' Agreement until 2031. The Company strengthened itself to rescue its competitiveness through efforts focused on the key areas of our business, commercial and industrial.

TEMPORARY INTERRUPTION OF SOME ACTIVITIES (2015)

The year of 2015 showed significant downgrade of the economic scenario. In this context the Company's Management decided, in May 2015, to stop the activities of a blast furnace at the Ipatinga Plant - MG.

In October 2015, the Company's Management decided to temporarily interrupt the activities of the primary areas of the Cubatão Plant - SP. The deactivation process included the areas of sintering, coke ovens, blast furnaces (one of which had already been halted since May 2015) and steel works, as well as all activities associated with this equipment. This adjustment aimed to adjust Usiminas' production scale to the current demand levels, seeking to reduce the adverse impact on the Company's results.

CAPITAL INCREASE (2016)

On June 3, 2016, the Board of Directors approved the capital increase with the subscription of 39,292,918 class "A" preferred shares, identical to the shares of this type and class already existing, at the issue price of R$1.28 per share, totaling R$50,294,935.04. On July 19, 2016, at the Extraordinary General Meeting, the capital increase was approved with the subscription of 200,000,000 common shares at the issue price of R$5.00 per share, totaling R$1,000,000,000.00. As a result, the Company's share capital increased to R$13,200,294,935.04, divided into 1,253,079,108 shares, of which

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