Resolution of the capital reduction of MUSA

An extraordinary shareholders’ meeting of Mineração Usiminas S.A. (MUSA), of which Sumitomo Corporation owns 30% shares, was held on March 3rd (Brazil Time) and resolved the capital reduction of BRL1.0Billion.
Sumitomo Corporation exercised its Veto right at an extraordinary shareholders’ meeting of MUSA held on January 10th for the same subject. However, considering changes in the  business environment of MUSA and further analysis based on those changes, Sumitomo Corporation determined that the resolution meets MUSA’s interest.
 
Sumitomo Corporation continues to contribute to the development of MUSA through close conversations with Usiminas, the 70% shareholder of MUSA.