Usiminas Belo Horizonte

Rua Prof. José Vieira de Mendonça, 3011

31310-260 Belo Horizonte MG T 55 31 3499-8000

F 55 31 3499-8899

www.usiminas.com

USINAS SIDERÚRGICAS DE MINAS GERAIS S.A. - USIMINAS

CNPJ/MF 60.894.730/0001-05

NIRE 313.000.1360-0

Publicly Traded Company

MATERIAL FACT

Usinas Siderúrgicas de Minas Gerais S.A. – USIMINAS (“Usiminas” or “Company”),

hereby informs its shareholders and the general market that, on 4.22.2016 took notice of

the Legal Opinion No 77/2016/UCD/PFE-CADE-CADE/PGF/AGU, prepared by the Federal

Attorney Specialized along to the Brazilian Antitrust Authorities (Conselho Administrativo de

Defesa Econômica – CADE) (“Legal Opinion”) and of the Presidency Order No 118/2016,

rendered by the CADE’s President (“Presidential Order”), regarding the request, presented

by Companhia Siderúrgica Nacional – CSN, of flexibility of Clause 2.3 of the Term of

Commitment Performance (Termo de Compromisso de Desempenho – “TCD”) executed

between CSN and CADE on 4.9.2014, which restricts the exercise of the political rights

arising from the shares issued by Usiminas owned by CSN.

The Legal Opinion considered possible an "exceptional and episodic flexibility" of Clause 2.3

of the TCD, specifically to allow CSN to attend the Annual Shareholders’ Meeting of Usiminas

called for 4.28.2016 (“ASM”) and to nominate 2 (two) effective members and 1 (one)

alternate member for the Board of Directors and 1 (one) effective member for the Usiminas’

Fiscal Council (“Conselho Fiscal”), which shall be "completely independent in relation to both

CSN as to Usiminas" and whose the investiture will be conditioned to the signature of term

of commitment by which such individuals will assume a fiduciary duty directly before CADE

and additional obligations which consists on quarterly presentation of reports, commitment

of wide availability and adoption of confidentiality duty. The names submitted to CADE by

CSN for the above mentioned positions are: (i) Gesner José de Oliveira Filho; (ii) Ricardo

Antônio Weiss; (iii) Wagner Mar; (iv) and Derci Alcântara, being the first two for the

position of effective members of the Board of Directors, the third as effective member for

the Fiscal Council and the fourth as alternate member for the Board of Directors.

The Legal Opinion also recommended that the attendance of CSN at the ASM is conditioned

“to the in loco monitoring” by a CADE member, in order to allow “an exceptional and

controlled flexibility in the exercise of the political rights without collision to the identified

antitrust concerns” by CADE.

Usiminas Belo Horizonte

Rua Prof. José Vieira de Mendonça, 3011

31310-260 Belo Horizonte MG T 55 31 3499-8000

F 55 31 3499-8899

www.usiminas.com

The Presidential Order accepted the Legal Opinion, “understanding by the granting of the

requested for flexibility of the TCD, only and exclusively for the appointment of two Board

Members for the Board of Directors and one for the Fiscal Council” at the ASM, which shall

be nominated among the above mentioned names and whose “condition for the investiture

is the signature of the Term of Commitment with CADE”, there should be “monitoring of the

Annual Shareholders Meeting by representative of CADE, in order to assure the rigidity of

the procedure and the non-exercise of the political rights of CSN beyond what was

authorized”. The Presidential Order also authorized CSN to adopt the necessary procedures

for the "implementation of the cumulative voting and of the separate voting" for the

appointment of members of the Board of Directors at the ASM.

The Presidential Order is still subject to appeal to be presented by Usiminas and of

ratification by the Administrative Court of Antitrust of CADE, which the next session will

occur on 04.27.2016.

Usiminas will keep its shareholders and the market duly informed about the subject matter

of this Material Fact.

Belo Horizonte, April 25, 2016.

Ronald Seckelmann

Vice President of Finances and Investors Relations