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United States Steel Corporation Building Value September 2007

2. Forward-Looking Statements. This presentation contains forward-looking statements with respect to market conditions, operating costs, shipments, prices and profit-based compensation payments. Some factors, among others, that could affect 2007 market conditions, costs, shipments and prices for bo

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United States Steel Corporation Building Value September 2007

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    9. 9 This chart of our Global Days Away From Work Case Rate also affirms how far we have come. It also points out just how far we still have to go. Although pleased by our progress, we are not satisfied, in fact we will never be satisfied until we reach our goal of zero injuries. Looking at our two benchmark companies, Alcoa and DuPont you will note their 2007 Global Days Away From Work Rates of 0.09 and 0.07 respectively. Although both rates are better than ours, we are rapidly gaining ground. We are approaching the Alcoa level of performance, and are closing the gap between our performance and that of DuPont. Last year we reported that we reduced our Global Days Away From Work Rate from 1.10 in 2003 to 0.24 by mid-2006, a level of improvement accomplished in 3 ½ years in contrast to the 9 years it took Alcoa to achieve the same level in the 1990’s. Our rate of change in 2007 continues to be significant. Updated 7/24/2007This chart of our Global Days Away From Work Case Rate also affirms how far we have come. It also points out just how far we still have to go. Although pleased by our progress, we are not satisfied, in fact we will never be satisfied until we reach our goal of zero injuries. Looking at our two benchmark companies, Alcoa and DuPont you will note their 2007 Global Days Away From Work Rates of 0.09 and 0.07 respectively. Although both rates are better than ours, we are rapidly gaining ground. We are approaching the Alcoa level of performance, and are closing the gap between our performance and that of DuPont. Last year we reported that we reduced our Global Days Away From Work Rate from 1.10 in 2003 to 0.24 by mid-2006, a level of improvement accomplished in 3 ½ years in contrast to the 9 years it took Alcoa to achieve the same level in the 1990’s. Our rate of change in 2007 continues to be significant. Updated 7/24/2007

    10. 10 Steel is a good product, provides excellent value Major regions with increasing consumption rates Governments mostly out of industry (ex China) Metallics are tight, flatter cost curve Low Valuation:

    11. 11 Steady to moderate steel and economic growth Melt capacity relatively constrained High metallic costs High import transportation costs Relatively weak US Dollar

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    13. 13 Labor costs 1Q’02 Chinese – 19% Mini mill – 24% Integrated – 45% Labor costs 4Q’05 Chinese – 9% Mini-mill – 13% Integrated – 26% Raw Material Costs – 1Q’02 Chinese – 66% Mini-mill – 52% Integrated – 44% Raw Material costs – 4Q’05 Chinese – 75% Mini-mill – 70% Integrated – 55%Labor costs 1Q’02 Chinese – 19% Mini mill – 24% Integrated – 45% Labor costs 4Q’05 Chinese – 9% Mini-mill – 13% Integrated – 26% Raw Material Costs – 1Q’02 Chinese – 66% Mini-mill – 52% Integrated – 44% Raw Material costs – 4Q’05 Chinese – 75% Mini-mill – 70% Integrated – 55%

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    16. 16 Maintain strong capital structure Focused capital spending plan Responsible capital allocation Remain shareholder focused Designed to improve shareholder value

    17. 17 Assess global markets – growth opportunities remain

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    23. 23 Content Slide 2 Animation: Body content appears in columns on mouse-clicksContent Slide 2 Animation: Body content appears in columns on mouse-clicks

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