Pay Versus Performance Disclosure

In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive “compensation

actually

paid” (“CAP”) and certain Company and peer group financial performance measures for the fiscal years listed below. Please refer to our CD&A for a complete description of how executive compensation relates to Company performance and how the Committee makes its decisions.


									Value of Initial Fixed $100 Investment Based On:
Year	Summary Compensation Table Total for PEO ($) (1)		Compensation Actually Paid to PEO ($) (1) (2) (3)		Average Summary Compensation Table Total for Non-PEO NEOs ($) (4)		Average Compensation Actually Paid to Non-PEO NEOs ($) (2) (3) (4)		Total Shareholder Return ( $) (5)		Peer Group Total Shareholder Return ($) (5)		Net Income (in millions) ($)		ROE
(a)	(b)		(c)		(d)		(e)		(f)		(g)		(h)		(i)

2022		23,073,171		37,341,765		6,499,047		8,430,764		252		216		7,607		46.9	%

2021		11,618,019		52,148,691		5,246,942		23,557,361		215		179		6,827		55.0	%

2020		11,265,538		12,399,819		7,296,327		5,762,046		98		106		721		6.8	%

(1)

The principal executive officer, or PEO, for each of the years listed is Leon J. Topalian.

(2)

The dollar amounts shown in these columns reflect “compensation actually paid” computed in accordance with SEC rules. The SEC rules require the use of the fair value of Nucor common stock at points in time and do not reflect that a significant portion of CAP may never be earned or delivered to NEOs due to a number of factors, including the failure of the NEOs to satisfy vesting requirements or a decrease in the fair value of Nucor common stock. The Total Adjustments for Equity Awards are shown in the table below. During 2021, the fair value of Nucor common stock more than doubled from $53.19 to $114.15. This increase in fair value resulted in a significant difference between the Summary Compensation Table Totals and the CAP for the PEO and the average CAP for the Non-PEO NEOs for 2021 because the PEO and the NEOs hold a significant number of unvested equity awards.


	2022						2021						2020
	PEO			Average Non-PEO NEOs			PEO			Average Non-PEO NEOs			PEO			Average Non-PEO NEOs
	$			$			$			$			$			$

Total Compensation from Summary Compensation Table		23,073,171			6,499,047			11,618,019			5,246,942			11,265,538			7,296,327

Adjustments for Equity Awards:

Grant date values in the Summary Compensation Table		(13,632,413	)		(3,844,616	)		(5,689,943	)		(2,431,870	)		(5,312,358	)		(2,578,948	)

Year-end fair value of unvested awards granted in the current year		18,173,840			3,238,139			12,422,466			5,092,457			6,896,426			1,938,739

Year-over-year difference of year-end fair values for unvested awards granted in prior years		7,527,586			430,648			28,207,308			11,458,211			81,777			(483,507	)

Fair values at vest date for awards granted and vested in current year		546,000			1,194,601			—			528,952			—			658,862

Difference in prior year-end fair values and vest date fair values for awards granted in prior years		1,412,224			834,710			5,434,578			3,512,002			(690,755	)		(1,239,087	)

Dividends or dividend equivalents in the current year prior to vesting		241,357			78,235			156,263			150,667			159,191			169,660

Total Adjustments for Equity Awards		14,268,594			1,931,717			40,530,672			18,310,419			1,134,281			(1,534,281	)

CAP (as calculated)		37,341,765			8,430,764			52,148,691			23,557,361			12,399,819			5,762,046

(3)

Equity valuation assumptions for calculating CAP are not materially different from grant date valuation assumptions.

(4)

Information regarding

non-PEO

named executive

offic

ers, or NEOs, reflects the average Summary Compensation Table total compensation and average CAP for the following executives by year:

2022: James D. Frias, Stephen D. Laxton, Daniel R. Needham, K. Rex Query, MaryEmily Slate and D. Chad Utermark

2021: James D. Frias, Douglas J. Jellison, David A. Sumoski and D. Chad Utermark

2020: James D. Frias, Ladd R. Hall, Raymond S. Napolitan, Jr., David A. Sumoski and D. Chad Utermark

(5)

Total shareholder return (“TSR”) is calculated based on the value of an initial fixed investment of $100 on December 31, 2019, assuming reinvestment of dividends. The peer group TSR represents TSR of the S&P 1500 Steel Index, which is the peer group used by the Company for purposes of Item 201(e) of SEC

Regulation S-K

in the Company’s Annual Report on

Form 10-K

for the fiscal year ended December 31, 2022.

Named Executive Officers, Footnote [Text Block]

(4)

Information regarding

non-PEO

named executive

offic

ers, or NEOs, reflects the average Summary Compensation Table total compensation and average CAP for the following executives by year:

2022: James D. Frias, Stephen D. Laxton, Daniel R. Needham, K. Rex Query, MaryEmily Slate and D. Chad Utermark

2021: James D. Frias, Douglas J. Jellison, David A. Sumoski and D. Chad Utermark

2020: James D. Frias, Ladd R. Hall, Raymond S. Napolitan, Jr., David A. Sumoski and D. Chad Utermark

PEO Total Compensation Amount

$ 23,073,171

$ 11,618,019

$ 11,265,538

Adjustment To PEO Compensation, Footnote [Text Block]

(2)

The dollar amounts shown in these columns reflect “compensation actually paid” computed in accordance with SEC rules. The SEC rules require the use of the fair value of Nucor common stock at points in time and do not reflect that a significant portion of CAP may never be earned or delivered to NEOs due to a number of factors, including the failure of the NEOs to satisfy vesting requirements or a decrease in the fair value of Nucor common stock. The Total Adjustments for Equity Awards are shown in the table below. During 2021, the fair value of Nucor common stock more than doubled from $53.19 to $114.15. This increase in fair value resulted in a significant difference between the Summary Compensation Table Totals and the CAP for the PEO and the average CAP for the Non-PEO NEOs for 2021 because the PEO and the NEOs hold a significant number of unvested equity awards.


	2022						2021						2020
	PEO			Average Non-PEO NEOs			PEO			Average Non-PEO NEOs			PEO			Average Non-PEO NEOs
	$			$			$			$			$			$

Total Compensation from Summary Compensation Table		23,073,171			6,499,047			11,618,019			5,246,942			11,265,538			7,296,327

Adjustments for Equity Awards:

Grant date values in the Summary Compensation Table		(13,632,413	)		(3,844,616	)		(5,689,943	)		(2,431,870	)		(5,312,358	)		(2,578,948	)

Year-end fair value of unvested awards granted in the current year		18,173,840			3,238,139			12,422,466			5,092,457			6,896,426			1,938,739

Year-over-year difference of year-end fair values for unvested awards granted in prior years		7,527,586			430,648			28,207,308			11,458,211			81,777			(483,507	)

Fair values at vest date for awards granted and vested in current year		546,000			1,194,601			—			528,952			—			658,862

Difference in prior year-end fair values and vest date fair values for awards granted in prior years		1,412,224			834,710			5,434,578			3,512,002			(690,755	)		(1,239,087	)

Dividends or dividend equivalents in the current year prior to vesting		241,357			78,235			156,263			150,667			159,191			169,660

Total Adjustments for Equity Awards		14,268,594			1,931,717			40,530,672			18,310,419			1,134,281			(1,534,281	)

CAP (as calculated)		37,341,765			8,430,764			52,148,691			23,557,361			12,399,819			5,762,046