United States Metal Company, Large River Metal LLC and BRS Finance Corp. Announce Early Tender Date Outcomes of their Tender Gives to Buy for Money $300,000,000 Combination Principal Quantity of Securities

Contains presents for securities issued by United States Metal Company and co-issued by Large River Metal LLC and BRS Finance Corp.

PITTSBURGH, August 31, 2022–(BUSINESS WIRE)–United States Metal Company (NYSE: X) (“U. S. Metal” or the “Firm”) and its subsidiaries, Large River Metal LLC, a Delaware restricted legal responsibility firm, and BRS Finance Corp., a Delaware company (collectively, “Large River Metal,” and collectively with U. S. Metal, the “Offerors,” and every of U. S. Metal and Large River Metal individually, an “Offeror”), introduced right this moment the early outcomes as of 5:00 p.m., New York Metropolis time, on August 30, 2022 (the “Early Tender Date”), of their beforehand introduced tender presents to buy (every, a “Tender Supply” and collectively, the “Tender Gives”) for money, topic to sure phrases and circumstances, as much as a complete of $300,000,000 mixture principal quantity (the “Tender Cap Quantity”) of (i) the 6.875% Senior Notes due 2029 (CUSIP No. 912909AU2) issued by U. S. Metal (the “2029 Notes”), (ii) the 6.650% Senior Notes due 2037 (CUSIP No. 912909AD0) issued by U. S. Metal (the “2037 Notes”) and (iii) the 6.625% Senior Secured Notes due 2029 (CUSIP Nos. 08949LAB6 and U0901LAB6) issued by Large River Metal (the “2029 Secured Notes” and, along with the 2029 Notes and the 2037 Notes, the “Securities”).

On August 17, 2022, the Offerors commenced the Tender Gives to buy the Securities in accordance with the phrases and circumstances within the Supply to Buy dated August 17, 2022 (the “Supply to Buy”), which units forth a extra detailed description of the Tender Gives.

In reference to the announcement of the early tender outcomes, the Offerors additionally introduced (i) the rise of the Tender Cap Quantity from $300,000,000 to an mixture most principal quantity of $300,859,000 (the “Amended Tender Cap Quantity”), (ii) the rise of the relevant most principal quantity of the 2029 Notes to be bought from $225,000,000 to $225,001,000 (the “Amended 2029 Notes Collection Most Tender Quantity”), and (iii) the rise of the relevant most principal quantity of the 2037 Notes to be bought from $75,000,000 to $75,858,000 (the “Amended 2037 Notes Collection Most Tender Quantity” and along with the Amended 2029 Notes Collection Most Tender Quantity, the “Amended Collection Most Tender Quantity”).

The next desk presents the mixture principal quantity of Securities of every sequence tendered and never validly withdrawn as of the Early Tender Date, as reported by D.F. King & Co., Inc., the Data Agent and the Tender Agent for the Tender Gives, and the quantity of every sequence accepted for buy:

The Early Settlement Date for Securities validly tendered at or previous to the Early Tender Date and accepted for buy is anticipated to happen on September 1, 2022. Holders that tendered Securities at or previous to the Early Tender Date and whose Securities are accepted for fee, topic to the relevant precedence stage and the proration procedures described herein and in additional element within the Supply to Buy, will probably be entitled to obtain the Whole Consideration, which incorporates the Early Tender Premium, plus accrued and unpaid curiosity as much as, however not together with, the Early Settlement Date, as set forth within the desk above. Validly tendered Securities could now not be validly withdrawn.

The Amended Tender Cap Quantity has been reached. As a result of the mixture principal quantity of Securities validly tendered at or previous to the Early Tender Date exceeded the Amended Tender Cap Quantity, there will probably be no Remaining Settlement Date, and no Securities tendered after the Early Tender Date will probably be accepted for buy. Accordingly, Securities validly tendered and never validly withdrawn at or previous to the Early Tender Date with (i) an Acceptance Precedence Degree of 1 or 2, topic to the Amended Collection Most Tender Quantity and the proration issue described herein, have been accepted for buy and (ii) an Acceptance Precedence Degree of three haven’t been accepted for buy. All Securities which aren’t accepted for buy pursuant to the Tender Gives will probably be promptly returned to the Holder of such sequence of Securities. Topic to the circumstances within the Supply to Buy, the 2029 Notes (Acceptance Precedence Degree 1) validly tendered and never validly withdrawn at or previous to the Early Tender Date have been accepted for buy utilizing a proration issue of roughly 64.3% and the 2037 Notes (Acceptance Precedence Degree 2) validly tendered and never validly withdrawn at or previous to the Early Tender Date have all been accepted for buy with no proration issue .

The Offerors have retained Goldman, Sachs & Co. LLC, Credit score Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC to function Seller Managers for the Tender Gives. D.F. King & Co., Inc. has been retained to function the Data Agent and Tender Agent for the Tender Gives. Questions relating to the Tender Gives could also be directed to Goldman, Sachs & Co. LLC at (800) 828-3182 (toll free) or (212) 902-5962 (acquire), Credit score Suisse Securities (USA) LLC at (800) 820-1653 (toll-free) or (212) 325-6340 (acquire), J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3822 (acquire) and Wells Fargo Securities, LLC at (866) 309-6316 (toll-free) or (704) 410-4759 (acquire). Requests for the Supply to Buy could also be directed to D.F. King & Co., Inc. at 48 Wall Avenue, New York, New York 10005, Attn: Michael Horthman, (212) 269-5550 (for banks and brokers) or (800) 659-5550 (for all others) or e-mail at uss@dfking.com.

The Offerors are making the Tender Gives solely by, and pursuant to, the phrases of the Supply to Buy. Not one of the Offerors, the Seller Managers, the Data Agent and Tender Agent make any suggestion as as to if holders ought to tender or chorus from tendering their Securities. Holders of Securities should make their very own determination as as to if to tender their Securities and, in that case, the principal quantity of such Securities to tender. The Tender Gives aren’t being made to holders of Securities in any jurisdiction wherein the making or acceptance thereof wouldn’t be in compliance with the securities, blue sky or different legal guidelines of such jurisdiction. In any jurisdiction wherein the securities legal guidelines or blue sky legal guidelines require the Tender Gives to be made by a licensed dealer or supplier, the Tender Gives will probably be deemed to be made on behalf of the Offerors by the Seller Managers, or a number of registered brokers or sellers which are licensed beneath the legal guidelines of such jurisdiction.

This press launch doesn’t represent a proposal to buy securities or a solicitation of a proposal to promote any securities or a proposal to promote or the solicitation of a proposal to buy any new securities, nor does it represent a proposal or solicitation in any jurisdiction wherein such supply or solicitation is illegal. Capitalized phrases used on this press launch however not in any other case outlined herein have the meanings assigned to them within the Supply to Buy.

Cautionary Assertion

All statements included on this press launch, apart from historic data or statements of historic reality, are forward-looking statements. Phrases comparable to, however not restricted to, “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “might,” “could,” “will,” “ought to,” and comparable expressions are meant to establish forward-looking statements. All forward-looking statements depend on a variety of assumptions, estimates and knowledge regarding future outcomes and occasions and are topic to a variety of uncertainties and different components, lots of that are exterior the Firm’s management that would trigger precise outcomes to vary materially from these mirrored in such statements. Accordingly, the Offerors warning that the forward-looking statements contained herein are certified by these and different essential components and uncertainties that would trigger outcomes to vary materially from these mirrored by such statements. For extra data on the potential components, please assessment U. S. Metal’s filings with the Securities and Alternate Fee, together with, however not restricted to, U. S. Metal’s Annual Report on Type 10-Okay, its Quarterly Studies on Type 10-Q and its Present Studies on Type 8-Okay.

Based in 1901, United States Metal Company is a number one metal producer. With an unwavering give attention to security, the Firm’s customer-centric Finest for All^® technique is advancing a safer, sustainable future for U. S. Metal and its stakeholders. With a renewed emphasis on innovation, U. S. Metal serves the automotive, development, equipment, power, containers, and packaging industries with excessive value-added metal merchandise comparable to U. S. Metal’s proprietary XG3™ superior high-strength metal. The Firm additionally maintains competitively advantaged iron ore manufacturing and has an annual uncooked steelmaking functionality of twenty-two.4 million internet tons. U. S. Metal is headquartered in Pittsburgh, Pennsylvania, with world-class operations throughout the US and in Central Europe. For extra data, please go to www.ussteel.com.

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20220830006031/en/

Contacts

Arista Joyner
Supervisor
Monetary Communications
T – (412) 433-3994
E – aejoyner@uss.com

Kevin Lewis
Vice President
Investor Relations
T – (412) 433-6935
E – klewis@uss.com