Usiminas Sede

Rua Prof. Jos Vieira de Mendona, 3.011

Engenho Nogueira
31310-260 Belo Horizonte, MG
T 55 31 3499-8000
F 55 31 3499-8899
www.usiminas.com

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 March 18th, 2016, at 10:30AM
Board Members Participants Marcelo Gasparino da Silva, Chairman; Fumihiko Wada (through
teleconference), Yoichi Furuta, Paulo Penido Pinto Marques, Oscar Montero Martinez (through
teleconference), Roberto Caiuby Vidigal, Elias de Matos Brito, Rita Rebelo Horta de Assis Fonseca,
Jos Oscar Costa de Andrade and Mauro Rodrigues da Cunha. Secretary-General Bruno Lage de
Arajo Paulino.
It is registered herein that the Chairman of the Board of Directors presented a written reply to the
documents presented by TT Group at the Board of Directors meeting held on March 11th, 2016,
which will be attached to these minutes and filed in the Board of Directors minutes book.
It is registered herein that the Board Member Mauro Rodrigues da Cunha presented a protest
regarding the time of submission of the statements of vote, which will be attached to these
minutes and filed in the Board of Directors minutes book.
At this moment the meeting was adjourned at request of the Board Member Oscar Montero. When
the meeting was resumed, the Board Member Oscar Montero informed that there was no change
in the resolutions of the Controlling Group.
It is registered herein that the Board Members Marcelo Gasparino da Silva, Fumihiko Wada, Yoichi
Furuta, Paulo Penido Pinto Marques, Oscar Montero Martinez, Roberto Caiuby Vidigal, Elias de
Matos Brito, Rita Rebelo Horta de Assis Fonseca, Jos Oscar Costa de Andrade and Mauro
Rodrigues da Cunha presented, at the end of the meeting, 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 filed in the Board of Directors minutes
book.
The Board Member Rita Fonseca requested to the Board the deliberation on the form of
preparation of the minutes of this meeting. The Board approved, by the majority of its members,
the preparation of the minutes in summary form, pursuant to article 130, 1st paragraph of the
Brazilian Corporate Law with article 14, 8th paragraph of the Bylaws, defeated the Board Members
Marcelo Gasparino da Silva and Mauro Rodrigues da Cunha.
Agenda:
The Board Member Oscar Montero requested the inversion of the items of agenda to start the
meeting from item II. Submitted for voting, the Board Members Oscar Montero Martinez, Roberto
Caiuby Vidigal, Elias de Matos Brito, Rita Fonseca and Jos Oscar voted for the approval of the
inversion of the Agenda. The Board Members Marcelo Gasparino da Silva, Fumihiko Wada, Yoichi
Furuta, Paulo Penido Pinto Marques and Mauro Rodrigues da Cunha voted for the maintenance of
the Agenda. In this regard, the Chairman of the Board of Directors, using the privilege provided in
Article 11 of the Company's Bylaws, gave the casting vote and, therefore, the request was not
approved.
I Call of the Extraordinary Shareholders Meeting based on the documents which will
be prepared by the Board of Officers
The Board unanimously approved, the call of an Extraordinary Shareholders Meeting to be held
on April 18th, 2016, at the Companys Headquarters, in Belo Horizonte/MG.
The Board approved, by the majority of its members, defeated the Board Members Oscar Montero
Martinez, Roberto Caiuby Vidigal and Elias de Matos Brito, that such Meeting (i) be held at
08:00AM; (ii) deliberate only on the proposal of increase of the Companys Capital, approved by
the Board of Directors at a meeting held on March 11th, 2016, through private subscription, in the
amount of R$1,000,000,000.00 (one billion reais), through issuance of 200,000,000 (two hundred

Usiminas Sede
Rua Prof. Jos Vieira de Mendona, 3.011
Engenho Nogueira
31310-260 Belo Horizonte, MG
T 55 31 3499-8000
F 55 31 3499-8899
www.usiminas.com

million) new common shares, identical to the shares that already exist, at the issuance price of
R$5.00 (five reais) per common share, in accordance with the material available at the Board
Portal and suggestions made by the Board Members appointed by NSSMC Group, except for the
comment referred to the letter J of Annex 14 of CVM Instruction No. 481/2009; and (iii) does not
include in the agenda the proposal of capital increase presented by TT Group at the Board of
Directors meeting held on March 11th, 2016.
II - Request presented by TT Group to call an Extraordinary Shareholders Meeting
The Board deliberated on the request of TT Group, received at the end of the Board of Directors
meeting held on March 11th, 2016, in accordance with the material available at the Board Portal.
In view of the absence of a Resolution of the Controlling Group, the Board Members Fumihiko
Wada, Yoichi Furuta, Paulo Penido Pinto Marques, Oscar Montero Martinez, Roberto Caiuby Vidigal,
Elias de Matos Brito, Rita Rebelo Horta de Assis Fonseca and Jos Oscar Costa de Andrade, voted
against such matter.
The Board Members Marcelo Gasparino da Silva and Mauro Rodrigues da Cunha also voted against
such matter.
In view of that, the Board unanimously rejected the matter.
Other matters: The Board Members unanimously approved the rectification of the Annex 30XXXII of CVM Instruction 480/2009, which consisted as attachment to the minutes of the Board of
Directors meeting held on March 11th, 2016, in accordance with the document that will be
disclosed by the Company on this date.
III - 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,
March 18th, 2016.