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萌萝社 Issues ESG Report Highlighting Continued Progress on Ambitious Sustainability Goals

Highlights the Essential Role of Steel in Enabling a More Sustainable Future

PITTSBURGH--(BUSINESS WIRE)-- 萌萝社 (NYSE: X) (鈥溍嚷苌玮) today issued its 2022 Environmental, Social and Governance (ESG) Report titled, 鈥淓ssential for our Future,鈥 reaffirming its commitment to sustainable steelmaking and a greener economy. Steel is essential to enabling critical green technologies like wind turbines, solar fields, and electric vehicle motors. Moreover, sustainable steel can contribute towards lowering the greenhouse gas (GHG) emissions of other products and industries. Steel stands out for its remarkable capability to be recycled infinitely without any loss of quality, demonstrating a nearly endless lifecycle once it has been produced. Recognizing this enduring utility, 萌萝社 is focused on reducing emissions in meaningful ways while delivering profitable, differentiated and sustainable steel solutions for customers and communities, people and planet.

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"Every single employee is playing a role in creating a more sustainable future," said David B. Burritt, 萌萝社 President & Chief Executive Officer. "Steel's importance to our society is undeniable, both in the past and into the future as we collectively tackle climate change. It鈥檚 of particular significance that we were the first American steel company to set a goal of achieving net-zero greenhouse gas emissions by 2050.鈥

During 2022, the construction of 萌萝社's second sustainable mini mill at made great progress as the company's transformation to lower-carbon steelmaking accelerates. Recognition of 萌萝社鈥檚 actions toward it鈥檚 2050 net-zero goal included the existing Big River Steel mill鈥檚 receipt of the first-ever for a North American steel facility, a global multistakeholder standard that requires the highest standards of environmental, social and governance performance across the supply chain.

Adding to the company鈥檚 green portfolio, and to meet the rising demand for electric vehicles and more efficient motors, 萌萝社 is investing in a non-grain oriented (NGO) electrical steel line. The company unveiled its new electrical steel product, 滨苍诲耻齿鈩, which is set to begin production at Big River Steel in the summer of 2023. Big River Steel also produces 萌萝社鈥檚 line of green steel called , which is manufactured with up to 70-80 percent fewer emissions than traditional, integrated-mill steel and has a recycled content of up to 90 percent, exemplifying steel鈥檚 extraordinary potential for high-end recyclability.

萌萝社 made progress on advancing its supply chain sustainability programs, surpassing a $300 million spending goal on diverse suppliers by approximately 130 percent. In addition, 2022 marked its safest year on record, demonstrating the company's continued commitment to 360掳 safety, emphasizing both physical and psychological aspects. Significant strides were also made in fostering diversity, equity and inclusion (DEI), building an environment where all employees feel welcome and can thrive. The company鈥檚 recent 2023 provides detailed insights into these efforts.

"2022 was a crucial year in putting our ambitious ESG initiatives into action,鈥 said Richard L. Fruehauf, 萌萝社鈥檚 Chief Strategy and Sustainability Officer. 鈥淪trategy and sustainability are inextricably linked. Our Best for All strategy recognizes that what is good for the planet is also good for business, as we focus on producing profitable, sustainable steel solutions.鈥

To view the full ESG Report, click .

萌萝社 Cautionary Note Regarding Forward-Looking Statements

This release contains information that may constitute 鈥渇orward-looking statements鈥 within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using the words 鈥渂elieve,鈥 鈥渆xpect,鈥 鈥渋ntend,鈥 鈥渆stimate,鈥 鈥渁nticipate,鈥 鈥減roject,鈥 鈥渢arget,鈥 鈥渇orecast,鈥 鈥渁im,鈥 鈥渟hould,鈥 鈥減lan,鈥 鈥済oal,鈥 鈥渇uture,鈥 鈥渨ill,鈥 "may" and similar expressions or by using future dates in connection with any discussion of, among other things, the construction or operation of new or existing facilities and operating capabilities, operating or financial performance, trends, events or developments that we expect or anticipate will occur in the future, statements relating to volume changes, shares of sales and earnings per shares changes, anticipated cost savings, potential capital and operational cash improvements, changes in the global economic environment, including supply and demand conditions, inflation, interest rates, supply chain disruptions and changes in the prices for our products, international trade duties and other aspects of international trade policy, statements regarding our future strategies, products and innovations, statements regarding our greenhouse gas emissions reduction goals, statements regarding existing or new regulations and statements expressing general views about future operating results. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are not historical facts, but instead represent only the Company鈥檚 beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company鈥檚 control. It is possible that the Company鈥檚 actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. Our Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, the risks and uncertainties described in 鈥淚tem 1A Risk Factors鈥 in our Annual Report on Form 10-K for the year ended December 31, 2022 and those described from time to time in our future reports filed with the Securities and Exchange Commission.

References to "萌萝社," "the Company," "we," "us," and "our" refer to 萌萝社 and its consolidated subsidiaries, and references to 鈥淏ig River Steel鈥 refer to Big River Steel Holdings LLC and its direct and indirect subsidiaries unless otherwise indicated by the context. References to 鈥淕HG emissions鈥 refer to Scope 1 and 2 emissions.

Founded in 1901, 萌萝社 is a leading steel producer. With an unwavering focus on safety, the company鈥檚 customer-centric Best for All strategy is advancing a more secure, sustainable future for 萌萝社 and its stakeholders. With a renewed emphasis on innovation, 萌萝社 serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as 萌萝社鈥檚 proprietary XG3 advanced high-strength steel. The company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. 萌萝社 is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit .

Arista Joyner
Financial Communications
T 鈥 (412) 433-3994
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Kevin Lewis
Vice President
T 鈥 (412) 433-6935
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Source: 萌萝社