Corporate

Letter to Employees and Neighbours

Dear employees and neighbours,

A very good start

Kirby Adams, CEO and Managing Director of BlueScope SteelOn 15 July this year, we celebrated the first anniversary of our listing on the Australian Stock Exchange as an independent company.

We have had a great first year. We have a terrific ‘can do’ spirit amongst our people and a new energy and determination to deliver on our promises as expressed in Our Bond, the statement of our values and beliefs. Around 200 employees from across the company were involved in developing Our Bond in the lead-up to our public listing.

This report is a summary of our success and highlights our achievements for the year.

A challenging industry

Through the hard work of our employees, and the support of our customers, suppliers and the communities in which we operate, BlueScope Steel has been performing strongly in a tough global steel industry.

There will undoubtedly be challenges ahead. Emerging and restless competitors, volatile exchange rates, shifting markets and challenges from other materials, all mean we must constantly review our business to ensure we stay ahead.

In our first year, we believe we have laid the foundations for a more secure and successful future.

A vibrant future

Our new status as an independent company has enabled us to respond more quickly and  creatively to the needs of our customers, to reinvest in our business, and to start implementing our plans for profitable growth. We are also continuing the hard work we have undertaken over many years to improve our safety performance, as we strive to achieve our goal of Zero Harm. In addition, we are looking to strengthen our relationships with our host communities and further reduce the impact of our activities on the environment.

The future holds exciting potential for our company. We will invest in existing facilities and sustainable growth opportunities to ensure we deliver on our commitments to our shareholders, our customers, our employees and our communities.

We will be a flat steel products and solutions company that is focused on delivering shareholder value by:

• vigorously maintaining and enhancing the value of our existing businesses through:
- branded value-added products and services, and
- being a world class, low cost steelmaker;
• pursuing growth in selected regions and market segments; and
• disciplined capital management.

Going Forward

We will continue to build on our market and production strengths and invest in and grow our Australasian businesses. In particular, we will seek profitable growth avenues in the building and construction market segment, while responding to viable opportunities in other segments. Geographically, we have a strong
focus on Asia as an important growth region.

We are moving ahead with great vigour and confidence, and look forward to continued success in the years ahead.

To each of our 11,000 employees and the members of our many host communities in Australia, New Zealand, Indonesia, Malaysia, Thailand, Vietnam, Singapore, Taiwan, China, India, Sri Lanka, Fiji, New Caledonia, Vanuatu and the US, who have contributed to our success – thank you.

Sincerely,

Kirby Adams
Managing Director & CEO

Responsibilities