Bristol Uni - Help understanding offer pls

https://preview.redd.it/gxy094geebpe1.png?width=551&format=png&auto=webp&s=59b90b7ca80890d520a79c6871e69732cd6df4eb

For the alternative offer, am I required to get the Grade 2 in any STEP in order to get the AAB offer or is the STEP part just another additional offer.

Should it read as,
EITHER - Grades AAB including AA in Maths and FM
OR - We will accept one grade lower in one non-Maths A level when accompanied by Grade 2 in any STEP

This is for Maths Bsc btw.