Usiminas Belo Horizonte

Rua Prof. Jos Vieira de Mendona, 3011

31310-260 Belo Horizonte MG
T 55 31 3499-8000
F 55 31 3499-8899

(Free Translation: For reference only Original in Portuguese)

www.usiminas.com

USINAS SIDERRGICAS DE MINAS GERAIS S.A. USIMINAS

Publicly Traded Company
CNPJ/MF 60.894.730/0001-05
NIRE 313.000.1360-0
MATERIAL FACT
Usinas Siderrgicas de Minas Gerais S.A. USIMINAS (Usiminas or
Company)

hereby

informs

that,

on

this

date,

was

held

Extraordinary

Shareholders Meeting (ESM) of its subsidiary Minerao Usiminas (MUSA), of

which the Company holds seventy percent (70%) of the capital stock and voting
rights, called for the purpose of deliberating on the proposal of reduction of the
capital stock in the amount of R$1,000,000,000.00 (one billion reais), for being
excessive, under the terms set forth in articles 173 and 174 of Law n 6.404/1976
(Capital Reduction).
Although Usiminas presented, in the mentioned ESM, its favorable vote for the
approval of the proposal of Capital Reduction, the other shareholders of MUSA,
Serra Azul Iron Ore L.L.C and Sumitomo Corporation do Brasil S.A. (jointly,
Sumitomo),

holders

of

shares

representing

thirty

percent

(30%)

of

the

Companys capital stock and voting rights, voted against the proposal of Capital
Reduction. Thus, in view of the provisions set forth in the Shareholders Agreement
and MUSAs Bylaws, that establishes that any reduction of its capital stock depends
on the approval of both Usiminas and Sumitomo, the matters of the ESM were not
considered approved.
Usiminas understands that the veto imposed by Sumitomo in relation to the
proposal of Capital Reduction constitutes an abuse of right, in flagrant violation of
article 187 of the Brazilian Civil Code, and, therefore, shall not produce any legal
effect. For this reason Usiminas will look for, through the pertinent legal ways, the
invalidation of the contrary vote presented by Sumitomo, in order to prevail its
majority vote favorable of the approval of the matters of the ESM.
Belo Horizonte, January 10th, 2017.
Ronald Seckelmann
Finance and Investor Relations Vice President