MARCH 2014

NUCOR TODAY

FACILITIES Over 200 locations2013 NET SALES $19.1 Billion2013 NET EARNINGS $488.0 MillionFORTUNE 500 RANK 146EMPLOYEES 22,3002013 SALES PER EMPLOYEE $859,000

164 CONSECUTIVE QUARTERS OF CASH DIVIDENDS (THRU MAY 2014)

NORTH AMERICA’S MOST DIVERSIFIED STEEL & STEEL PRODUCTS COMPANY

2

STEEL MILL PRODUCTION CAPACITY ANNUAL TONS

3

4

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130

4

8

12

16

20

24

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STEEL MILL SHIPMENTS 2003-2013(millions of tons)

20.65

STEEL PRODUCTSPRODUCTION CAPACITY ANNUAL TONS

5

6

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130

1

2

3

4

5

STEEL PRODUCTS SALES TONS 2003-2013(millions of tons)

2.62

RAW MATERIALS (IRON UNITS)

PRODUCTION CAPACITY ANNUAL TONS

7

Direct Reduced Iron (DRI) 4.5 Million

Ferrous Scrap Processing 5.2 Million

NUCOR’S GROWTH DRIVEN BY OUR POSITION OF STRENGTH

8

COMPETITIVE ADVANTAGES

Financial Strength Low / Variable Cost StructureFlexible CapacityProduct Diversification Market LeadershipNucor’s People and Our Culture

9

Strong cash flow generation through the cycle

Only North American steel producer with extremely important competitive advantage of investment grade credit rating

Conservative Financial Practices

No Material Legacy Liabilities10

FINANCIAL STRENGTH

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013$0

$600

$1,200

$1,800

$2,400

Financial Strength Cash From Operations 2000-2013 (millions of dollars)

Cyclical Trough To Cyclical TroughMore than 2X

Average ’01-’03 $495 million

Average ’09-’13 $1.1 Billion

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LOW COST STRUCTURE = INDUSTRY LEADING RETURNS

5.9%7.1%

13.6%

15.5%

0

2

4

6

8

10

12

14

16

18

ArcelorMittal U.S. Steel Steel Dynamics Nucor

Average ROIC 2004-2013

ArcelorMittalU.S. SteelSteel DynamicsNucor

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NUCOR’S ROIC PERFORMANCE

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013-3.0%

2.0%

7.0%

12.0%

17.0%

22.0%

27.0%

32.0%

37.0%ROIC = EBIT X (1-.35) / (NET PP&E + WORKING CAPITAL)

13

2004-2013 AVG = 15.5%

“GREAT RECESSION”

UP-CYCLE

FLEXIBLE CAPACITY

Electric arc furnaces

High productivity

No lay-off practice

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BEST-IN-CLASS MARKET RESPONSIVENESS!!!

2013 Sales Tons

Sheet - 32%

Bars - 22%

Structural - 11%

Plate - 10%

Products - 11%

Scrap - 14%

DIVERSIFIED PRODUCT MIX

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NUCOR = MOST DIVERSIFIED STEEL AND STEEL PRODUCTS PRODUCER IN NORTH AMERICA

Highway Products

Building Systems

Joist & Decking

Fasteners

Grating

Wire Products

Rebar Fabrication

Cold Finished Bar

Plate

Sheet

Structural/Piling

SBQ

Bar

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NUCOR Arcelor Mittal

Steel Dynamics

Gerdau Commercial Metals

Company

Republic Timken US Steel Severstal Thyssen Krupp

MARKET LEADERSHIP BY SIZE IN NORTH AMERICA

Structural SteelBar SteelRebar SteelCold Finished Bar SteelSteel JoistSteel DeckRebar Fabrication, Distribution, & PlacementSteel Piling Distribution Metal Buildings

Sheet SteelPlate Steel

#1North American

Market Leader

#2North American

Market Leader

#3North American

Market Leader

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NUCOR’S PEOPLE –OUR BIGGEST COMPETITIVE ADVANTAGE

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Commitment to EmployeesSAFETY Is Our First PriorityTeamwork

Pay For PerformanceContinual ImprovementDecentralized Structure = Nucor

Employees Are Empowered To Take Care Of Our Customers

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NUCOR’S CULTURE

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• Click to edit Master text styles– Second level

• Third level– Fourth level

» Fifth level

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GREAT CHALLENGES PRESENT GREAT OPPORTUNITIES TO THE

RIGHT PEOPLE – THE NUCOR TEAM

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GROWING EARNINGS POWER: MULTI-PRONGED GROWTH STRATEGY

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NUCOR’S FOCUS: PROFITABLE GROWTH!!!

NUCOR’S 5 PRONGED GROWTH STRATEGY

Nucor’s Position

of STRENGTH

1.OPTIMIZE EXISTING OPERATIONS

2. RAW MATERIALS STRATEGY3. GREENFIELD GROWTH

(technology & market niches)4. INTERNATIONAL GROWTH

via joint ventures5. STRATEGIC ACQUISITIONS

$8 BILLION OF CAPITAL INVESTED Capital Spending of $4.4 billion & Acquisitions

of $3.6 billion

CAPITAL SPENDING = 55%

ACQUISITIONS = 45%

2008-2013 CAPITAL INVESTED

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2008-2013 CAPITAL INVESTED ($ MILLIONS)

STEEL MILLSBARS

MEMPHIS SBQ MILL (2008-13) $350

DARLINGTON ROD MILL (2012-13) $99

CONNECTICUT REHEAT FURNACE (2012-13) $23

NEBRASKA SBQ ROLLING MILL UPGRADE (2012-13) $16

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AMOUNTS NOT NECESSARILY PROJECT TOTALS – ONLY INCLUDES $s INVESTED OVER 2008-2013 PERIOD


STEEL MILLSBEAMS & PILING

SKYLINE ACQUISITION (2012) $675

NUCOR-YAMATO SHEET PILING PRODUCT RANGE EXPANSION (2012-13)

$92

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STEEL MILLSPLATEHERTFORD COUNTY HEAT TREAT FACILITY (2009-10) $70HERTFORD COUNTY NORMALIZING LINE (2012-13) $38HERTFORD COUNTY DRI HANDLING (2012-13) $21HERTFORD COUNTY VACUUM TANK DEGASSER (2011-12)

$17

TUSCALOOSA 2nd LMF (2011-12) $12

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STEEL MILLS

SHEETNUMIT SHEET STEEL PROCESSING J.V. ACQ. (2010) $221DECATUR GALVANIZING FACILITY (2008-09) $126BERKELEY COUNTY WIDE-LIGHT (2012-13) $86HICKMAN VACUUM TANK DEGASSER (2012-13) $33CRAWFORDSVILLE DRI HANDLING (2012-13) $22BERKELEY COUNTY DRI HANDLING (2012-13) $18

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STEEL MILLSINTERNATIONAL

DUFERDOFIN J.V. IN ITALY (BEAMS & BARS) (2008) $671

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DOWNSTREAM PRODUCTS

HARRIS STEEL REBAR FABRICATION BOLT-ON ACQUISITIONS (2008-12)

$211

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RAW MATERIALS & ENERGY

DAVID J. JOSEPH ACQUISITION (2008) $1,440LOUISIANA DRI FACILITY (2009-13) $739NATURAL GAS DRILLING & MIDSTREAM ASSETS (2009-13)

$616

DAVID J. JOSEPH BOLT-ON ACQUISITIONS (2008-12) $300TRINIDAD DRI FACILITY EXPANSION (2011) $15

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RAW MATERIALS STRATEGY

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DRI Plant - Louisiana

Game changer for Nucor’s cost of high quality iron

units required to produce higher value-added sheet,

SBQ, & plate

Production of DRI began on December 24, 2013

Output quality matching the best-in-class levels

routinely achieved at our DRI plant in Trinidad.

Together with Trinidad plant, Nucor has total annual DRI capacity of 4.5 million metric tons.

Natural Gas Working Interest Investment

Long-term & low cost supply of energy source required to

produce DRI

Provides hedge against any future increases in natural gas prices – critical risk factor in

DRI production

Approximately 20 year supply of natural gas to

cover usage of 2 DRI plants + current steel mill

consumption

Cost structure of drilled wells such that they delivered modest positive return in

2013’s low natural gas pricing environment

DRI = Direct Reduced Iron

DRI VERSUS PIG IRON COST COMPARISON(using estimated long-term prices)

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$/ton Blast Furnace DRIIron Ore (62% FE, FOB Brazil)Pellet PremiumIron Premium (BF = 65% Fe & DRI = 68% Fe) X $2.20FreightIron Ore Consumption (BF = 1.6 ton & DRI = 1.5 ton)

$125$40$7$25$315

$125$40$13$15$290

Cash Conversion Costs BF Reductant (100% coke)DRI Reductant (11 mmbtus @ $4)

$70$107

$35

$44Iron Unit CostBF with sinter plant cost savingsBF Cost Savings By Substituting 40% of coke usage with PCI & natural gas BF Higher “Value-In-Use” Benefit “Adjusted” BF Iron Unit Cost

$492$30

$11$15$436

$369

Coke cost assumes 0.5 ton of coke using 1.5 tons of metallurgical coal costing $125/ton

NUCOR’S FOCUS = GENERATE ATTRACTIVE RETURNS

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-$300

$200

$700

$1,200

$1,700

$2,200

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

BUILDING EARNINGS POWER FOR THE NEXT CYCLICAL PEAK & BEYOND (Millions of dollars)

2008 RECORD EPS $5.98

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35

CASH DIVIDENDS PAID 2004 – 2013 Base & Supplemental Dividends (dollars per share)

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Base Supplemental

Approx. $5/share in total supplemental dividends from 2005 to 2008

“GREAT RECESSION”

41 CONSECUTIVE YEARS OF INCREASED CASH DIVIDENDSUP-CYCLE

MARCH 2014

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