(Free Translation: For reference only Original in Portuguese)

USINAS SIDERRGICAS DE MINAS GERAIS S/A USIMINAS

CNPJ/MF 60.894.730/0001-05
NIRE 313.000.1360-0
Publicly Traded Company
Minutes of the Extraordinary Meeting of the Board of Directors of Usinas
Siderrgicas de Minas Gerais S/A - USIMINAS, held at the Companys office, in So
Paulo/SP, Av. do Caf, 277, Tower A, 9th floor, Jabaquara, on June 22nd, 2016, at
8PM
Board Members Participants Elias de Matos Brito, Chairman; Fumihiko Wada
(through teleconference), Yoichi Furuta (through teleconference), Paulo Penido
Pinto Marques, Oscar Montero Martinez, Guilherme Poggiali Almeida, Rita Rebelo
Horta de Assis Fonseca, Gesner Jos Oliveira Filho, Ricardo Antonio Weiss, Luiz
Carlos de Miranda Faria. Secretary-General Bruno Lage de Arajo Paulino.
The preparation of the minutes in summary form, pursuant to article 130, 1 st
paragraph of the Brazilian Corporate Law with article 14, 8 th paragraph of the
Bylaws, was unanimously approved.
It is registered herein that the Board Members Fumihiko Wada, Yoichi Furuta,
Paulo Penido Pinto Marques, Oscar Montero Martinez and Guilherme Poggiali
Almeida, presented writing statements, which will be attached to these minutes and
filed in the Board of Directors minutes book.
The attendance list of the Directors assistants will also be attached to these
minutes and filed in the Board of Directors minutes book.
Agenda:
Items for Approval
I To deliberate on the approval of the following documents: (i) Term
Sheet with the Brazilian Banks; and, (ii) Term Sheet with the Debenture
Holders The Board unanimously approved the Term Sheet with the Brazilian
Banks and the Term Sheet with the Debenture Holders, executed by the Company
on 06/14/2016 and 06/15/2016, respectively, in accordance with the material
available at the Board Portal.
Adjournment With no further business, the meeting was closed and the minutes
were drawn up in own Book with the signature of the Board Members and the
Secretary. So Paulo, June 22nd, 2016.