São Paulo, July 28, 2020 – Companhia Siderúrgica Nacional (“CSN” or “Company”) hereby announces to its shareholders and the market in general on projections update, as follow:
(i) Projection of reaching 3.75x Net Debt/Adjusted EBITDA indicator at the end of the 2020 annual balance sheet.
(ii) Projection of reaching 3.00x in the Net Debt/Adjusted EBITDA indicator at the close of the 2021 annual balance sheet.
(iii) Projection of reaching R$23,000 million in Net Debt at the close of the 2021 annual balance sheet.
CSN points out that the information disclosed in this document represents an estimate and involves market factors beyond CSN’s control. Therefore, it does not constitute a promise of performance by the Company and/or its Management and may be subject to change.
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CSN is a highly integrated company, with steel, mining, cement, logistics and energy businesses. The Company operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a diversified range of high value-added steel products. Thanks to its integrated production system and exemplary management, CSN’s production costs are among the lowest in the global steel sector.