NUCOR CORP Debt Disclosure

11. Debt and Other Financing Arrangements

Annual aggregate long-term debt, excluding finance lease obligations, was $6.93 billion at December 31, 2025. Annual aggregate long-term debt maturities are: $66 million in 2026, $532 million in 2027, $553 million in 2028, $75 million in 2029, $1.02 billion in 2030 and $4.69 billion thereafter.

Nucor's $2.25 billion revolving credit facility remains undrawn and has a maturity date of March 11, 2030. The unsecured revolving credit facility provides up to $2.25 billion in revolving loans and allows up to $500 million in additional commitments at Nucor’s election in accordance with the terms set forth in the credit agreement. Up to $100 million of the credit facility is available for the issuance of letters of credit

and up to $500 million is available for the issuance of revolving loans for Nucor subsidiaries in accordance with the terms set forth in the credit agreement. The credit facility provides for a pricing grid based upon the credit rating of Nucor’s senior unsecured long-term debt and, alternatively, interest rates quoted by lenders in connection with competitive bidding. The credit facility includes customary financial and other covenants, including a limit on the ratio of funded debt to total capital of 60%, a limit on Nucor’s ability to pledge the Company’s assets and a limit on consolidations, mergers and sales of assets. As of December 31, 2025, Nucor’s funded debt to total capital ratio was 24.4%, and Nucor was in compliance with all covenants under the credit facility. No borrowings were outstanding under the credit facility as of December 31, 2025 and 2024.

In March 2025, Nucor completed the issuance and sale of $500 million aggregate principal amount of its 4.650% Notes due 2030 (the “2030 Notes”) and $500 million aggregate principal amount of its 5.100% Notes due 2035 (the “2035 Notes” and, together with the 2030 Notes, the “Notes”). Net proceeds from the issuance and sale of the Notes were $997 million. Costs of $9 million associated with the issuance and sale of the Notes have been capitalized and will be amortized over the life of the Notes.

Net proceeds from the issuance and sale of the Notes were used during the second quarter of 2025 to redeem all of the outstanding $500 million aggregate principal amount of our 2.000% Notes due 2025 and $500 million aggregate principal amount of our 3.950% Notes due 2025 (collectively, the “2025 Notes”) pursuant to the terms of the indenture governing the 2025 Notes.

In November 2025, Nucor issued $220 million in 40-year variable rate West Virginia Economic Development Authority IDRBs to partially fund the construction of the West Virginia sheet mill.

A business within the steel products segment has credit facilities totaling approximately $18 million, with no outstanding borrowings at December 31, 2025 and 2024.

The business of Nucor Trading S.A. is financed by uncommitted trade credit arrangements with a number of European banking institutions. As of December 31, 2025, Nucor Trading S.A. had outstanding borrowings of $33 million ($45 million as of December 31, 2024). NJSM maintains an uncommitted trade credit agreement with three banking institutions. As of December 31, 2025, NJSM had outstanding borrowings of $89 million ($180 million as of December 31, 2024) under the trade credit agreement. Nucor Trading S.A. and NJSM's credit arrangements are presented in short-term debt in the consolidated balance sheets.

Letters of credit totaling $94 million were outstanding as of December 31, 2025 ($59 million as of December 31, 2024), related to certain obligations, including workers’ compensation, utilities deposits and credit arrangements by Nucor Trading S.A. for commitments to purchase inventories.