ArcelorMittal announces the completion of its US$1 billion share buyback program

Rhea-AI Summary

On June 9, 2022, ArcelorMittal announced the completion of its $1 billion share buyback program, initially announced on May 5, 2022. By the market close on June 8, 2022, the company had repurchased 33,349,597 shares, totaling €942,577,580.32 (approximately $999.99 million), at an average share price of €28.26. This initiative aims to enhance shareholder value by returning capital to investors. The company's performance in 2021 included revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes.

Positive

• Completion of a $1 billion share buyback program enhances shareholder value.
• Repurchased over 33 million shares, indicating strong cash flow and commitment to returning value to shareholders.

Negative

• None.

9 June 2022, 11:30 CET

ArcelorMittal (the ‘Company’) today announces that it has completed the US$1 billion share buyback program it announced on 5 May 2022 under the authorization given by the annual general meeting of shareholders of 4 May 2022.

By market close on 8 June 2022, ArcelorMittal had repurchased 33,349,597 shares for a total value of €942,577,580.32 (equivalent to US$999,999,973.97) at an approximate average price per share of €28.26. 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 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 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 $1 billion share buyback program?

The purpose of the share buyback program is to enhance shareholder value by returning capital to investors.

How many shares did ArcelorMittal repurchase by June 8, 2022?

ArcelorMittal repurchased 33,349,597 shares by June 8, 2022.

What was the total value of shares repurchased by ArcelorMittal?

The total value of shares repurchased was approximately €942.58 million or $999.99 million.

What was the average price per share for ArcelorMittal's buyback?

The average price per share during the buyback was approximately €28.26.

When was ArcelorMittal's share buyback program announced?

The share buyback program was announced on May 5, 2022.