Arcelormittal South Africa Limited · JSE:ACL
Arcelormittal South Africa — H1 2026 Earnings Presentation
28 slides from Arcelormittal South Africa's earnings presentation, June 2026
Slide 1: Financial Results for the 6 months ended 30 June 2026
FINANCIAL RESULTS for the 6 months ended 30 June 2026
Slide 2: Forward-looking statements
Forward-looking statements This presentation includes forward-looking information and statements about ArcelorMittal South Africa and its subsidiaries that express or imply expectations of future events or results. Forward-looking statements are not historical facts. These statements include, withou
Slide 3: Contents
01 KEY MESSAGES AND SALIENT FEATURES Kobus Verster 02 Tami Didiza SAFETY, ENVIRONMENT, SOCIAL AND GOVERNANCE CONTENTS 03 Kobus Verster OPERATIONS AND MARKET REVIEW 04 FINANCIAL Gavin Griffiths REVIEW AND CAPITAL ALLOCATION 05 Kobus Verster CONCLUSION AND OUTLOOK
Slide 4: Key messages and salient features
01 Key messages and salient features Kobus Verster
Slide 5: Overview and salient features
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook OVERVIEW AND SALIENT FEATURES CRUDE STEEL SALES VOLUMES REVENUE EBITDA LOSS NET BORROWINGS 837 kt 758 kt R12.0bn R409m R7.9bn • AMS
Slide 6: Safety, Environment, Social and Governance
02 Safety, Environment, Social And Governance Tami Didiza
Slide 7: Safety
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook SAFETY Safe today. Stronger tomorrow. Zero harm is achievable Total Injury Frequency Rate Lost Time Injury Frequency Rate Total Inj
Slide 8: Socio-economic footprint and license to operate
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook SOCIO-ECONOMIC FOOTPRINT AND LICENSE TO OPERATE SOCIO-ECONOMIC ENVIRONMENTAL COMMUNITY IMPACT RESPONSIBLE OPERATIONS ✓ Collect-a-Ca
Slide 9: Operations and Market Review
03 Operations and Market Review Kobus Verster
Slide 10: Global steel environment – crude steel production
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook GLOBAL STEEL ENVIRONMENT – CRUDE STEEL PRODUCTION Global Crude Production Price spreads • Global production down 1% at 932 million
Slide 11: Steel environment - Global
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook STEEL ENVIRONMENT - GLOBAL INTERNATIONAL HRC1 AND REBAR2 ($/t) INTERNATIONAL IRON ORE ($/t) $/t $/t 800 Average $607/t Average $670
Slide 12: Steel environment – South Africa
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook STEEL ENVIRONMENT – SOUTH AFRICA • Steel imports4 at 47% of ASC, down 4% at 629 000 tonnes. Approximately 63% • South Africa’s 2026
Slide 13: Operating environment – ArcelorMittal South Africa
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook OPERATING ENVIRONMENT – ARCELORMITTAL SOUTH AFRICA VOLUMES ARCELORMITTAL SOUTH AFRICA • Crude steel production at 837 000 tonnes, d
Slide 14: Operating environment – ArcelorMittal South Africa
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook OPERATING ENVIRONMENT – ARCELORMITTAL SOUTH AFRICA OPERATIONS • Flat steel capacity utilisation1 decreased from 69% to 66% • Substa
Slide 15: Financial Review and Capital Allocation
04 Financial Review and Capital Allocation Gavin Griffiths
Slide 16: Financial results – financial performance
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook FINANCIAL RESULTS – FINANCIAL PERFORMANCE +571 1 2 237 162 -1,075 +603 +172 222 -110 536 74 38 -106 -409 -582 -38 729 -1,184 -949 E
Slide 17: Financial results – net borrowings
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook FINANCIAL RESULTS – NET BORROWINGS • Working capital tie-up of R268 million due to lower inventories of R384 million and higher pay
Slide 18: Capital allocation
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook CAPITAL ALLOCATION SUSTAINING & OTHER MILL ROLLS ENVIRONMENTAL EXPANSION TOTAL CAPEX R191m R64m R21m R6m R282m 2025 H1: R329m 2025
Slide 19: Conclusion and Outlook
05 Conclusion and Outlook Kobus Verster
Slide 20: Outlook – 2026 H2
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook OUTLOOK – 2026 H2 Safety is the Company’s highest priority as it remains committed to Zero Harm Local market conditions expected to
Slide 21: Appendix
Appendix _ ArcelorMittal
Slide 22: Headline earnings (Rm)
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook HEADLINE EARNINGS (Rm) 2026 H1 2025 H1 Revenue per half year 2026 2025 Revenue 12 038 17 118 H1 12 038 17 118 EBITDA before impairm
Slide 23: Statement of financial position (Rm)
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook STATEMENT OF FINANCIAL POSITION (Rm) 2026 H1 2025 H1 2026 H1 2025 H1 Non-current assets 9 953 9 018 Shareholders Equity (1 659) 1 0
Slide 24: Cash flow (Rm)
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook CASH FLOW (Rm) 2026 H1 2025 H1 * Movement in working capital 2026 H1 2025 H1 Cash utilised in operations before movement in working
Slide 25: Reconciliation of loss from operations to EBITDA
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook FINANCIAL RESULTS - Reconciliation of loss from operations to earnings before interest, taxation, depreciation, amortisation and im
Slide 26: Divisional EBITDA before impairment (Rm)
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook DIVISIONAL EBITDA before impairment (Rm) 2026 H1 2025 H1 Steel operations (Rm) (533) (161) EBITDA margin % (4.4) (0.9) Net realised
Slide 27: Our value creation model
Key messages Safety, environment, Operations and Financial review and Conclusion and salient features social and governance market review capital allocation and outlook Our value creation model Inputs Our working business model Outputs Natural capital Financial capital Raw materials consumed (kiloto
Slide 28: Thank you
Thank you _ ArcelorMittal
ArcelorMittal South Africa — H1 2026 Earnings Presentation on 6ix