ArcelorMittal announces results of its General Meetings

Rhea-AI Summary

On May 4, 2022, ArcelorMittal held its Annual General Meeting (AGM) and Extraordinary General Meeting, with over 72% of voting rights represented. The meetings were conducted virtually due to Covid-19 restrictions. Shareholders approved key resolutions, including a dividend distribution of US$0.38 per share and the re-election of directors Mrs. Vanish Mittal Bhatia and Mr. Karel De Gucht for three years. A significant decision was made to cancel shares as part of a share buyback program, reducing the company’s issued share capital.

Positive

• Approval of a dividend distribution of US$0.38 per share.
• Re-election of directors, ensuring continuity in governance.
• Share cancellation as part of a buyback program, potentially enhancing share value.

Negative

• None.

4 May 2022, 18:45 CET

The Annual General Meeting and Extraordinary General Meeting (‘General Meetings’) of shareholders of ArcelorMittal (‘the Company’) held today approved all resolutions by a strong majority.

Over 72% of the voting rights were represented at the General Meetings. In view of the Covid-19 outbreak, the Board of Directors of ArcelorMittal had decided to hold this year’s General Meetings by virtual-only format, as permitted by Luxembourg law. The meeting was preceded by a virtual one-hour Q&A session with shareholders.

Arrangements were made to allow shareholders to vote electronically and by proxy voting. The results of the votes will be posted shortly on https://corporate.arcelormittal.com under ‘Investors – Equity investors – Shareholders events – AGM – General Meetings of shareholders, 4 May 2022’ where the full documentation regarding the General Meetings is available.

In particular, the shareholders approved the distribution of a dividend of US$0.38 per share and the re-election of Mrs. Vanish Mittal Bhatia and Mr. Karel De Gucht as directors of ArcelorMittal, for a term of three years each. Shareholders also approved the decision to cancel shares and to consequently reduce the issued share capital following the cancellation of shares repurchased under its share buyback program as required.

ENDS

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2021, ArcelorMittal had revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes, while iron ore production reached 50.9 million metric tonnes.

Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/

Contact information ArcelorMittal Investor Relations
General	+44 20 7543 1128
Retail	+44 20 3214 2893
SRI	+44 20 3214 2801
Bonds/Credit E-mail	+33 171 921 026 investor.relations@arcelormittal.com
Contact information ArcelorMittal Corporate Communications
Paul Weigh Tel: E-mail:	+44 20 3214 2419 press@arcelormittal.com

FAQ

What dividend did ArcelorMittal approve in May 2022?

ArcelorMittal approved a dividend distribution of US$0.38 per share.

What resolutions were approved at the ArcelorMittal AGM in May 2022?

All resolutions, including dividend distribution and director re-elections, were approved by shareholders.

How many voting rights were represented at the ArcelorMittal General Meetings?

Over 72% of voting rights were represented at the General Meetings.

Who were re-elected as directors during the ArcelorMittal meetings?

Mrs. Vanish Mittal Bhatia and Mr. Karel De Gucht were re-elected as directors for three years.

What adjustments did ArcelorMittal make to its share capital?

ArcelorMittal decided to cancel shares as required by its share buyback program, reducing the issued share capital.