Material Fact – USIMINAS Share Subscription

Material Fact – USIMINAS Share Subscription

São Paulo, May 19, 2016 – Pursuant to article 2 of CVM Instruction 358, Companhia Siderúrgica Nacional (“CSN”) hereby informs its shareholders and the market in general that it has subscribed, today, 35,766,351 common shares of Usinas Siderúrgicas de Minas Gerais S.A. (“USIMINAS”), for the total amount of R$ 178,831,755.00.

Of this sum, 33,719,233 common shares were subscribed directly by CSN, for the total amount of R$ 168,596,165.00, and 2,047,118 common shares were subscribed by VR1 Fundo de Investimento Multimercado Crédito Privado (“VR1”), of which CSN owns its total quotas, for the total amount of R$ 10,235,590.00.

The shares subscribed by CSN and by VR1 were subscribed in the context of USIMINAS’ capital increase of 200,000,000 common shares, at R$ 5.00 per share, totaling R$ 1,000,000,000.00. The capital increase was approved on April 18, 2016 at USIMINAS’ Extraordinary Shareholders´ Meeting. CSN highlights that the subscription was exercised within the limits of its preference rights.

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São Paulo, May 19, 2016

Paulo Rogério Caffarelli
Investor Relations Officer