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, in addition to the Material Facts dated of 03.17.2016,
06.15.2016 and 07.15.2016, informs that, at the meeting held on 09.08.2016, its
Board of Directors approved the Definitive Clauses of the restructuring of the
Company's debts with (i) Banco do Brasil S.A., Banco Bradesco S.A., Ita Unibanco
S.A. and Banco Nacional de Desenvolvimento Econmico e Social BNDES (jointly,
the Brazilian Banks); (ii) Nippon Usiminas Co., Ltd., Japan Bank for International
Cooperation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd. and
Sumitomo Mitsui Banking Corporation (jointly, the Japanese Banks); and (iii)
Pentgono S.A. Distribuidora de Ttulos e Valores Mobilirios (Pentgono), as
fiduciary agent and representative of the debenture holders of the Companys 6th
Debenture Issuance (Debenture Holders and, jointly, with the Brazilian Banks and
the Japanese Banks, Creditors)
Thus, the Board of Directors authorized the Company's Board of Officers to execute
all definitive documents of the restructuring of the debts with the creditors, which
will be executed until the next Monday, 09.12.2016 (Definitive Instruments).
The Definitive Instruments will not change the conditions that had already been
informed in the Material Fact dated as 06.15.2016, which are: (i) a total term of ten
(10) years for the payment of the debts of the Company; and (ii) a grace period of
three (3) years for the beginning of payment of the principal, which will also be
applied to the debts to the Japanese Banks.
In addition, the Definitive Instruments provide other common terms and conditions
for this type of operation, such as the provision of statements and collaterals by the
Company, the imposition of certain covenants and obligations to Usiminas and the
prediction of events of default.

In this regard, the Company assumed the

committed of, until full payment of the amounts due under the Definitive
Instruments, only to pay or distribute the dividends required by law or by its

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

Bylaws and, in case of distribution of dividends, make a payment of the same

amount to the Creditors, as early amortization of the balance due to them.
The Company also informs that, among the hypotheses of default of the Definitive
Instruments, is the non-receipt of resources held in the cash of its subsidiary
Minerao Usiminas S.A. - MUSA, in a minimum amount of R$700,000,000.00
(seven hundred million reais ), until 06.30.2017.
The Board of Directors of Usiminas also approved at the meeting held on
09.08.2016, the granting of collaterals to the debts subject to the Definitive
Instruments with the Brazilian Banks and Debenture Holders, consisting of the first
mortgage on the Hot Strip Mill and Cold Strip Mill of Ipatinga/MG plant.
The execution of the Definitive instruments marks the conclusion of the Company's
financial restructuring process with the Creditors (representing approximately 92%
of the total amount of the Companys indebtedness), which, in view of its
Management, preserves its financial and operational capacity, adjusting its debt
profile to the prospects of short, medium and long term.

Belo Horizonte, September 09th, 2016.

Ronald Seckelmann
Finance and Investor Relations Vice President