Standards of Business Conduct and Ethics

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A. General

The successful business operation and reputation of Nucor is built upon the ethical conduct of its employees, officers and directors (which are referred to herein as "Employees"). Nucor requires Employees to abide by all applicable laws, rules and regulations to avoid receiving or giving gifts for improper influence in Nucor's business dealings, to disclose facts and circumstances that potentially create a conflict of interest, to avoid all other unethical conduct, and to promptly report violations of this policy to management. Violation of this Policy by any Employee may be grounds for discipline, up to and including discharge. Any Employee with a question about this policy or any potential conflict situation should discuss the matter with his/her General Manager, Department Manager, or Nucor's legal department.

B. Conflicts of Interest

  1. No Employee shall be involved in a situation where his or her personal interests might conflict or appear to conflict with the interests of Nucor. Nucor recognizes and respects the right of the individual to invest or participate in outside activities, provided they do not interfere with or restrict the effectiveness of the Employee's job performance. The attached form should be used by Employees to disclose potential conflicts of interest.
  2. Although it is impossible to set forth all possible situations, which might arise, the following are examples of conflicts of interest, which Nucor Employees should avoid:
    1. An Employee involved in the selection of, negotiations with or placement of orders with, any person or company doing or seeking to do business with Nucor, shall not own any direct or indirect interest in such person or company (other than an immaterial interest in a publicly-owned company).
    2. An Employee shall not borrow money from any person or company doing or seeking to do business with Nucor (other than banks or other lending institutions in the ordinary course of business).
    3. An Employee shall not serve as an officer, employee, or consultant, to any person or company that is doing or seeking to do business with Nucor, or that is in direct competition with Nucor.
    4. General Managers, Department Managers or any other Employee involved in the selection of, negotiations with, or placement of orders with, any person or company doing or seeking to do business with Nucor, shall not conduct any material personal business with such person or company, without prior written disclosure (form attached). A signed copy of the disclosure form should be provided to the Employee and the original copy maintained in the personnel file.
  3. A director of Nucor shall not, as a result of any relationship between the director (or a company of which the director is a partner, shareholder, officer, employee, or director) and Nucor, be in violation of this policy on conflicts of interest if the Governance Committee of the Nucor's Board of Directors and the Board of Directors have evaluated the relationship and affirmatively determined the director is independent within the New York Stock Exchange Corporate Governance Rules relating to director independence and Nucor's Categorical Standards for Determination of Director Independence.

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