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United States Steel Corporation Announces Proposed Common Stock Offering

08.08.2016

PITTSBURGH, Aug. 8, 2016 /PRNewswire/ -- Today United States Steel Corporation (NYSE: X) (the "Company") announced that it has commenced an underwritten public offering of 17,000,000 shares of common stock. The Company intends to grant the underwriters a 30-day option to purchase up to 2,550,000 additional shares of common stock from the Company.  The Company intends to use the net proceeds from the offering for financial flexibility, capital expenditures and other general corporate purposes.

J.P. Morgan, Goldman, Sachs & Co., Barclays, Wells Fargo Securities, Credit Suisse and Morgan Stanley are acting as joint book-running managers for the proposed offering. Copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; and from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, e-mail: prospectus-ny@ny.email.gs.com.

The common stock will be issued and sold pursuant to an effective automatic shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission ("SEC"). Before you invest, you should read the prospectus in that registration statement and other documents filed with the SEC for more information about the Company and this offering. You may obtain these documents free of charge by visiting the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.   

Cautionary Statement

All statements included in this press release, other than historical information or statements of historical fact, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as, but not limited to, "believes," "expects," "anticipates," "estimates," "intends," "plans," "could," "may," "will," "should" and similar expressions are intended to identify forward-looking statements. All forward-looking statements rely on a number of assumptions, estimates and data concerning future results and events and are subject to a number of uncertainties and other factors, many of which are outside the Company's control that could cause actual results to differ materially from those reflected in such statements. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by these and other important factors and uncertainties that could cause results to differ materially from those reflected by such statements. For more information on the potential factors, please review the Company's filings with the SEC, including, but not limited to, the Company's Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.

United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 250 company with major operations in the United States and Central Europe.

SOURCE United States Steel Corporation

For further information: Media, Sarah Cassella, Manager, External Communications, T - (412) 433-6777, E - sacassella@uss.com; Investors/Analysts, Dan Lesnak, General Manager, Investor Relations, T - (412) 433-1184, E - dtlesnak@uss.com

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