ArcelorMittal cancels 45 million treasury shares

Rhea-AI Summary

ArcelorMittal has cancelled 45 million treasury shares to maintain appropriate levels, following a US$1 billion share buyback completed on December 28, 2021. Post-cancellation, the total shares outstanding has decreased to 937,809,772 from 982,809,772. This action aligns with the company’s efforts to manage its capital effectively. Further details on share buyback programs can be found on the company’s website and the Luxembourg Stock Exchange’s electronic database.

Positive

• Successful cancellation of 45 million treasury shares, reducing total shares outstanding to 937,809,772.
• Completion of a US$1 billion share buyback program, supporting shareholder value.

Negative

• None.

14 January 2022, 18:15 CET

ArcelorMittal announces that 45 million treasury shares have been cancelled to keep the number of treasury shares within appropriate levels. This cancellation takes into account the shares already purchased under the US$1 billion share buyback announced on 17 November 2021 which completed on 28 December 2021.

As a result of this cancellation, ArcelorMittal will have 937,809,772 shares in issue (compared to 982,809,772 before the cancellation).

Details on share buyback programs can be found at: https://corporate.arcelormittal.com/investors/equity-investors/share-buyback-program

With reference to article 14 of the Luxembourg law and the Grand Ducal regulation of 11 January 2008, on transparency requirements for issuers of securities (“Transparency Law”), ArcelorMittal announces that the total number of voting rights and capital is available in the Luxembourg Stock Exchange’s electronic database OAM on www.bourse.lu and on the company’s website under “Investors - Corporate Governance - Shareholding structure”.

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 recent share cancellation did ArcelorMittal announce?

ArcelorMittal announced the cancellation of 45 million treasury shares.

How many shares are outstanding after ArcelorMittal's recent cancellation?

After the cancellation, ArcelorMittal has 937,809,772 shares outstanding.

What was the amount of ArcelorMittal's recent share buyback program?

ArcelorMittal's recent share buyback program amounted to US$1 billion.

When was the share buyback program completed?

The share buyback program was completed on December 28, 2021.

Where can I find more information about ArcelorMittal's share buyback programs?

More information can be found on ArcelorMittal's website and the Luxembourg Stock Exchange’s electronic database.