ArcelorMittal announces results of its General Meetings

Rhea-AI Summary

On June 8, 2021, ArcelorMittal held its Annual General Meeting and Extraordinary General Meeting, where over 73.5% of voting rights were represented. The meetings were conducted virtually due to Covid-19. Key resolutions included a dividend distribution of US$ 0.30 per share, re-election of directors, and a share capital reduction through the cancellation of repurchased shares. The full voting results will be available on their corporate website.

ArcelorMittal reported revenues of $53.3 billion in 2020, highlighting its significant presence in steel and mining.

Positive

• Dividend of US$ 0.30 per share approved.
• Re-election of experienced directors supports stability.
• Share capital reduction enhances shareholder value.

Negative

• None.

8 June 2021, 14:15 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 73.5% 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, 8 June 2021’ where the full documentation regarding the General Meetings is available.

In particular, the shareholders, approved the distribution of a dividend of US$ 0.30 per share, the re-election of Mrs. Karyn Ovelmen and Mr. Tye Burt and the election of Mrs. Clarissa Lins 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 17 countries. In 2020, ArcelorMittal had revenues of $53.3 billion and crude steel production of 71.5 million metric tonnes, while iron ore production reached 58.0 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 was approved at the ArcelorMittal General Meetings on June 8, 2021?

The shareholders approved a dividend of US$ 0.30 per share and the re-election of directors, among other resolutions.

What percentage of voting rights were represented at the ArcelorMittal meetings?

Over 73.5% of voting rights were represented.

How did the Covid-19 pandemic affect the ArcelorMittal General Meetings?

The meetings were held virtually due to Covid-19, as permitted by Luxembourg law.

What financial results did ArcelorMittal report for 2020?

ArcelorMittal reported revenues of $53.3 billion and crude steel production of 71.5 million metric tonnes.