1. Fruits of transformation
but where to now?
Vice President and Treasurer
Larry T. Brockway
© 2008 United States Steel Corporation

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 2008 market conditions, costs, shipments and prices for both domestic operations
and USSE include global product demand, prices and mix; global and company steel production
levels; raw materials' availability and prices; plant operating performance; the timing and completion
of facility projects; natural gas prices and usage and availability; changes in environmental, tax and
other laws; the resumption of operation of steel facilities sold under the bankruptcy laws; employee
strikes; power outages; and U.S. and global economic performance and political developments.
Domestic steel shipments and prices could be affected by import levels and actions taken by the
U.S. Government and its agencies. Political factors in Europe that may affect USSE’s results
include, but are not limited to, taxation, nationalization, inflation, currency fluctuations, increased
regulation, export quotas, tariffs, and other protectionist measures. The level of income from
operations is the primary factor affecting payments under the USWA profit-based plans. In
accordance with “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995,
cautionary statements identifying important factors, but not necessarily all factors, that could cause
actual results to differ materially from those set forth in the forward-looking statements have been
included in the Form 10-K of U. S. Steel for the year ended December 31, 2007, and in subsequent
filings for U. S. Steel.
2

3. Industry Transformation
Topics
• Global steel demand
• Raw materials
• Climate change
• Talent
3

4. Growing International Demand
Emerging markets continue to support strong global production
World crude steel production* (million metric tonnes) Consumption per capita* (in kilograms)
500
1600
An increase of 177
million tonnes in 2 years
1400
USA
400
1200
EU 25
1000
300
800
China
200
600
CIS
400
100
200
India
0 0
2 0 0 8 **
2 0 0 9 **
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
World China ** IISI Estimate
* Source: IISI 4
USA EU (25) CIS China India

5. Global Redistribution of Steel Production
Trends of the World Economy
Steel demand has been increasingly stronger in developing countries,
where economic growth has outpaced that of developed nations
5
Source: Macquarie

6. What is 177 million additional tonnes?
Assuming 75% integrated and 25% EAF
• Iron ore – 168 million metric tonnes
More than twice North America’s annual production
• Coking coal – 59 million metric tonnes
Represents 12 “world class” coal mines
• Coke – 42 million metric tonnes
Well beyond expected capacity increases
• Scrap and alternatives - 73 million tons
Where will this come from
• Additional Considerations:
Boat/barges/rail cars
Energy costs
Environmental approvals
6

7. Raw Material Cost - Impact on hot rolled band costs
Raw material cost inflation has leveled the playing field – HRB cash cost $/ton
$700 $608 $592
$600 7% $510
9%
15% 13%
$500 17%
$400 11%
$270
$300 $204
$190
41%
$200 19% 24%
15% 8%
24%
$100
78% 78%
66% 52% 51% 72%
$0
'02
'08
'08
'02
'08
'02
1Q
2Q
2Q
2Q
1Q
1Q
China & other low-labor cost steel US flat-rolled mini-mill steel NA integrated steel producers
Producing countries producers
Raw Materials Energy Labor
7
Source: J.P. Morgan and company estimate

8. Climate Change
Global Greenhouse Gas (GHG) Emissions From Industry
Globally, the
steel industry
Chemicals &
generates about Petrochemicals 23%
3 percent of
total Cement 18%
greenhouse Rest of
Global Industry
gas emissions Iron & Steel 15%
GHGs 21%
79%
Non-Ferrous Metals 7%
5%
Machinery
Food & Tobacco 5%
Other Industry 27%
8

9. The Global Competition for Talent
North
Australia & New Zealand 1%
America Sub-Saharan Africa 1%
South America 4%
Middle East & North Africa 4%
produces
only
Central & Eastern
17 percent of Europe 12%
the world’s
Other North & Asia 45%
science, Central America 5%
technology
United States 12%
and
engineering
graduates
Western Europe 16%
Source: National Science Foundation, Accenture analysis 9

10. Fruits of transformation
but where to now?
Vice President and Treasurer
Larry T. Brockway
© 2008 United States Steel Corporation