ArcelorMittal announces the completion of its fifth share buyback program

Rhea-AI Summary

ArcelorMittal has successfully completed its fifth share buyback program, first announced on 17 November 2021. As of market close on 28 December 2021, the company repurchased 34,080,049 shares at a total cost of €885.73 million (approximately US$1 billion), averaging €25.99 per share. This buyback program is part of the company's strategy to enhance shareholder value under the 2021 AGM Authorization approved on 8 June 2021. Further details can be found on ArcelorMittal's investor relations website.

Positive

• Completion of a significant share buyback program enhances shareholder value.
• Total repurchased shares of 34,080,049 indicates strong capital return strategy.

Negative

• None.

29 December 2021, 14:15 CET

ArcelorMittal (the ‘Company’) today announces that it has completed the fifth share buyback program announced on 17 November 2021 under the authorization given by the annual general meeting of shareholders of 8 June 2021 (the ‘2021 AGM Authorization’).

By market close on 28 December 2021, ArcelorMittal had repurchased 34,080,049 shares for a total value of €885,729,034.96 (equivalent to US$999,999,819.63) at an approximate average price per share of €25.99. 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 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 is the total value of ArcelorMittal's recent share buyback?

ArcelorMittal's recent share buyback totaled approximately €885.73 million (US$1 billion).

How many shares did ArcelorMittal repurchase in its fifth buyback program?

ArcelorMittal repurchased 34,080,049 shares in its fifth buyback program.

When was the fifth share buyback program announced by ArcelorMittal?

The fifth share buyback program was announced on 17 November 2021.

What was the average price per share in the buyback program?

The average price per share in the buyback program was €25.99.

Under what authorization was the share buyback program conducted?

The share buyback program was conducted under the 2021 AGM Authorization approved on 8 June 2021.