ArcelorMittal announces the completion of its 60,431,380 shares buyback program

Rhea-AI Summary

On April 3, 2023, ArcelorMittal announced the completion of its buyback program, repurchasing 60,431,380 shares that it initially announced on July 29, 2022. This initiative was authorized during the annual general meeting held on May 4, 2022. By the market close on March 31, 2023, the company successfully executed the repurchase. This move reflects ArcelorMittal's commitment to enhancing shareholder value and confidence in its financial stability. The company reported revenues of $79.8 billion in 2022 and aims to innovate in steel production for a more sustainable future.

Positive

• Completed share buyback program of 60,431,380 shares.
• Enhances shareholder value and demonstrates financial stability.

Negative

• None.

3 April 2023, 19.30 CET

ArcelorMittal (the ‘Company’) today announces that it has completed the 60,431,380 shares buyback program it announced on 29 July 2022 under the authorization given by the annual general meeting of shareholders of 4 May 2022.

By market close on 31 March 2023, ArcelorMittal had repurchased 60,431,380  shares. All details are available on the Company’s website at: https://corporate.arcelormittal.com/investors/equity-investors/share-buyback-program

ENDS

About ArcelorMittal

ArcelorMittal is the world's leading steel company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2022, ArcelorMittal had revenues of $79.8 billion and crude steel production of 59 million metric tonnes, while iron ore production reached 50.9 million metric tonnes.

Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. 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 is the purpose of ArcelorMittal's recent share buyback?

The buyback enhances shareholder value and signals confidence in the company's financial stability.

When was the share buyback program authorized?

The program was authorized during the annual general meeting on May 4, 2022.

How many shares did ArcelorMittal repurchase?

ArcelorMittal repurchased a total of 60,431,380 shares.

What were ArcelorMittal's revenues in 2022?

ArcelorMittal reported revenues of $79.8 billion in 2022.

What date was the buyback program completed?

The buyback program was completed on March 31, 2023.