Slide 1: 4Q 2024 and FY 2024 Financial results
Q2 and and 4Q 2024 1H FY 2023 financial 2024 Financialresults Results Leadership presentation February 6, 2025 27th July 2023 Aditya Mittal, Chief Executive Officer Genuino Christino, Chief Financial Officer
Slide 2: Journey to Zero Fatalities: Implementation of the audit recommendations is underway
Journey to Zero Fatalities: Implementation of the audit recommendations is underway Business specific plans have been developed to implement the Group lost time injuries frequency rate (LTIFR)1 recommendations of the Company-wide safety audit 3.2 Key highlights include: 3.0 2.8 The new Process Saf
Slide 3: Continued strategic progress despite challenging market conditions
Continued strategic progress despite challenging market conditions Key 12M’24 figures: • ArcelorMittal continues to deliver resilient operating results despite challenging market conditions EBITDA/t of $122/t in 4Q’24 (vs. $110/t in 4Q’23) and $130/t in 12M’24; remains consistently above historica
Slide 4: Resilient operating results highlighting benefits of portfolio optimization
Resilient operating results highlighting benefits of portfolio optimization EBITDA split by segment (12M’24)1 Structurally higher margins and greater resilience to challenging market environments…EBITDA/t (US$) Sustainable Solutions +46% India and JVS 4% North America 11% 25% 130 89 Average 2012-201
Slide 5: $21.6bn in investable cashflow generated since 2021
$21.6bn in investable cashflow 1 generated since 2021 allocated to growth and shareholders return Acquired low-cost/highest quality assets: Pecem (Brazil) – 3Mt highest quality, lowest cost steel capacity HBI Texas (US) – 2Mt strategic, low-cost metallics c.28.4% stake in Vallourec – Premi
Slide 6: Balance sheet strength supports consistent investment and returns
Balance sheet strength supports consistent investment and returns Net debt movement YoY ($bn) $1.7bn Shareholder returns $2.0bn $1.9bn 5.1 Investable cash flow Invested in growth 0.4 0.4 1.3 2.9 0.6 1.3 0.3 (4.9) 2.8 Net debt Dec CFO1 Maintenance / Decarb. capex Strategic M&A2 Share Dividends Forex
Slide 7: Structural growth through investment in high quality projects
Structural growth through investment in high quality projects Organic growth investments EBITDA2 cadence from projects ($bn) Due to revisions to the Liberia iron ore expansion, strategic growth projects are now expected to increase EBITDA potential to $1.9bn (previously $1.8bn), with Inorganic inv
Slide 8: Liberia: Iron ore expansion now 20Mt
Liberia: Iron ore expansion now 20Mt Capacity expansion profile (Mt) New mining team has revised the Liberia expansion project – shipment capacity increases to 20Mt (from 15Mt previously) following revised mining plan and additional investment in material handling and infrastructure 20 New conce
Slide 9: New US Electrical steel project: A key domestic supplier of highest quality NOES
New US Electrical steel project: A key domestic supplier of highest quality NOES New non-grain-oriented electrical steel (NOES) plant at Calvert: Project to construct an advanced, manufacturing facility in Calvert, Alabama that could produce up to 150kt of capacity provide critical automotive an
Slide 10: Calvert: Commissioning of the new state-of-the-art EAF is underway
Calvert: Commissioning of the new state-of-the-art EAF is underway Construction of new 1.5Mt EAF & caster EBITDA (100% basis) ($m) Strong performance in 2024 driven by decline in input slab prices and improved product mix New 1.5Mtpa EAF under commissioning secures a reliable slab supply for Cal
Slide 11: AMNS India transformational expansion
AMNS India transformational expansion tripling capacity by end of the decade Achieving production records 4-fold increase in EBITDA and investable cash flow1 capacity Record production and shipments achieved in 2024, including 8.6Mt shipment run-rate in 4Q’24 4x FY’24 operating results impacte
Slide 12: Further organic growth plans under development
Further organic growth plans under development Brazil: Options to increase galvanizing capacity in US: Calvert plans to double EAF capacity Tubarao under development 50% JV with Nippon Steel Corporation Developing a plan to construct a new high added value State of the art 5.3Mt finishing faci
Slide 13: Economic decarbonization progress since 2018
Economic decarbonization progress since 2018 Decline in Group absolute CO2 Economic decarbonization $1bn decarbonization capex since 2018 emissions1,2 Primarily footprint Investing in economic projects that will continue and portfolio optimization growth of XCarb® offering: new 1.1Mt EAF in Gijo
Slide 14: Clearly defined capital returns policy provides visibility for consistent shareholder returns
Clearly defined capital returns policy provides visibility for consistent shareholder returns Balanced capital return policy: The Company will continue to return a ArcelorMittal dividends2 have progressively increased ($/sh) minimum of 50% of post-dividend free cash flow to shareholders Dividends: D
Slide 15: We are at a cyclical low… Company believes demand will grow in 2025 vs. 2024
We are at a cyclical low… Company believes demand will grow in 2025 vs. 2024 Headwinds should ease in 2025 ArcelorMittal weighted PMI1 chart 2024 was characterised by weak demand, particularly in Europe 58 54 The impact was exacerbated by high exports from China excess 49.0 production relative
Slide 16: Smarter steels for people and planet
Smarter steels for people and planet Progress our journey to zero fatalities Improving Business specific plans have been developed to implement the safety recommendations of the dss+ independent safety audit conducted in 2024 to support the Company's journey to zero fatalities The Company is o
Slide 17: Appendix
Appendix 4Q 2024 and FY 2024 Page 17
Slide 18: 4Q'24 EBITDA impacted by stable steel and improved mining performance
4Q’24 EBITDA impacted by stable steel and improved mining performance EBITDA1 bridge 3Q’24 vs. 4Q’24 ($m) North America: EBITDA down QoQ primarily due to a negative price-cost effect (62) 1,654 120 Brazil: EBITDA stable QoQ positive price-cost effect offsetting impact of lower steel shipment
Slide 19: 12M'24 EBITDA to net result
12M’24 EBITDA to net result BASIC EPS FY’24 Weighted Av. No. of shares (millions) 788 Earnings per share $1.70 ($ million) Adjusted earnings per share $2.95 Primarily related to the closure of the ArcelorMittal South Africa long business and the closure of the coke oven battery in Krakow (Poland) In
Slide 20: Capex discipline in support of growth and competitive decarbonization
Capex1 discipline in support of growth and competitive decarbonization Capex1 ($bn) Strategic growth capex envelope FY’242 4.5 - 5.0 0.3 - 0.4 Vega CMC 7% 4.4 Others (incl. Serra Azul, Las Truchas and Barra Mansa) Decarbonization 0.3 24% 1.4 - 1.5 $1.3bn Strategic growth 1.3 41% Liberia expansion 14
Slide 21: Disclaimer
Disclaimer Forward-Looking Statements This document contains forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations wit