Share buyback program 2021

Share buyback program for an aggregate maximum amount of US$ 750 million

As announced in a press release dated 18 June 2021, ArcelorMittal commenced a third share buyback program (the ‘Program’) for an aggregate amount of US$750 million.

Pursuant to another announcement also dated 18 June 2021 [1] relating to the sale of the Cleveland-Cliffs common stock, the proceeds of this sale will be returned to the ArcelorMittal shareholders via the Program.

This share buyback program will be completed by 31 December 2021.

The key terms of the Program are summarised below:

Objectives:
The shares acquired under this Program are intended to meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities, and/or ii) to reduce its share capital.

Maximum amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 750 million which is authorized by the resolution of the annual general meeting of shareholders held on 8 June 2021 and applicable market abuse regulations [2].

Duration: over a period from 18 June 2021 until 31 December 2021.

[1] https://corporate.arcelormittal.com/media/press-releases/arcelormittal-announces-sale-of-cleveland-cliffs-common-stock-with-the-proceeds-to-be-returned-to-shareholders-via-a-750-million-share-buyback

[2] The Significant Shareholder has declared its intention to enter into a share repurchase agreement with ArcelorMittal, to sell each trading day on which ArcelorMittal has purchased shares under the Program, an equivalent number of shares, at the proportion of the Significant Shareholder’s stake in the Company of 36.34% of issued and outstanding shares of ArcelorMittal, at the same price as the shares repurchased on the market. The effect of the share repurchase agreement is to maintain the Significant Shareholder’s voting rights in ArcelorMittal’s issued share capital (net of treasury shares) at the current level, pursuant to the Program.

Reporting of transactions in accordance with Market Abuse Regulation

In accordance with Market Abuse Regulation, transactions relating to the US$750 million shares buyback program are reported below:

Over the period 21 to 25 June 2021 a total of 10,303,089 shares were bought at a weighted average price of EUR 25.1501: i) 6,558,946 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF);  ii) 3,744,143 shares were bought from Significant shareholder [2]. Thereby, the Company achieved 41% of its total target of US$ 750 million.

Over the period 28 June to 2 July 2021 a total of 13,256,946  shares were bought at a weighted average price of EUR 26.1819: i) 8,439,372 shares were bought on the market (the detailed statement of this purchase is available at the following link: PDF);  ii) 4,817,574 shares were bought from Significant shareholder [2]. Thereby, the Company achieved 96.18% of its total target of US$ 750 million.

On 5 July 2021 a total of 898,489  shares were bought at a weighted average price of EUR 26.8694: i) 571,978 shares were bought on the market (the detailed statement of this purchase is available at the following link: PDF);  ii) 326,511 shares were bought from Significant shareholder [2]. Thereby, the Company achieved 100% of its total target of US$ 750 million.

Share buyback program for an aggregate maximum amount of US$ 570 million

As announced in the press release, ArcelorMittal commenced on 4 March 2021 a second share buyback program (the ‘Second Program’) for an aggregate amount of US$570 million, in-line with the Company’s new capital returns policy published on 11 February 2021 in the Company’s fourth quarter and full year 2020 financial results. This Second Program closed on 18 June 2021.

The key terms of the Program are summarised below:

Objectives:
The shares acquired under this Program are intended to meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities, and/or ii) to reduce its share capital.

Maximum amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 570 million which is authorized by the resolution of the annual general meeting of shareholders held on 13 June 2020 and applicable market abuse regulations. [1].

Duration: over a period from 4 March 2021 until 31 December 2021.

[1] The Significant Shareholder has declared its intention to enter into a share repurchase agreement with ArcelorMittal, to sell each trading day on which ArcelorMittal has purchased shares under the Program, an equivalent number of shares, at the proportion of the Significant Shareholder’s stake in the Company of 36.34% of issued and outstanding shares of ArcelorMittal, at the same price as the shares repurchased on the market. The effect of the share repurchase agreement is to maintain the Significant Shareholder’s voting rights in ArcelorMittal’s issued share capital (net of treasury shares) at the current level, pursuant to the Program.

Reporting of transactions in accordance with Market Abuse Regulation

In accordance with Market Abuse Regulation, transactions relating to the US$ 570 million shares buyback program are reported below:

Over the period 12 to 16 April 2021 a total of 254,801 shares were bought at a weighted average price of EUR 24.34. The detailed statement of own shares dealings made from 12 to 16 April 2021 is available at the following link: PDF

Over the period 19 to 23 April 2021 a total of 587,000 shares were bought at a weighted average price of EUR 24.45. The detailed statement of own shares dealings made from 19 to 23 April 2021 is available at the following link: PDF

Over the period 26 to 30 April 2021 a total of 640,656 shares were bought at a weighted average price of EUR 25.06. The detailed statement of own shares dealings made from 26 to 30 April 2021 is available at the following link: PDF

Over the period 3 to 7 May 2021 a total of 518,542 shares were bought at a weighted average price of EUR 25.33. The detailed statement of own shares dealings made from 3 to 7 May 2021 is available at the following link: PDF

Over the period 10 to 17 May 2021 a total of 417,793 shares were bought at a weighted average price of EUR 26.5875. The detailed statement of own shares dealings made from 10 to 17 May 2021 is available at the following link: PDF

Over the period 17 to 21 May a total of 505,647 shares were bought at a weighted average price of EUR 26.0157. The detailed statement of own shares dealings made from 17 to 21 May 2021 is available at the following link: PDF

Over the period 24 to 28 May 2021 a total of 3,461,212 shares were bought at a weighted average price of EUR 25.9527. The detailed statement of own shares dealings made from 24 to 28 May 2021  is available at the following link: PDF

Over the period 31 May to 04 June 2021 a total of 3,300,000 shares were bought at a weighted average price of EUR 27.2533. The detailed statement of own shares dealings made from 31 May to 04 June 2021  is available at the following link: PDF

Over the period 07 June to 11 June 2021 a total of 1,400,000 shares were bought at a weighted average price of EUR 26.9614. The detailed statement of own shares dealings made from 07 June to 11 June 2021  is available at the following link: PDF

Over the period 14 June to 18 June 2021 a total of 275,783 shares were bought at a weighted average price of EUR 25.1219. The detailed statement of own shares dealings made from 14 June to 18 June 2021  is available at the following link: PDF

According to the share repurchase agreement [1] the Significant shareholder sold to the ArcelorMittal a total of 6,485,623 shares. Detailed information is available at the following LINK.

Share buyback program for an aggregate maximum amount of US$ 650 million

ArcelorMittal announced on 15 February 2021 a share buyback program under the authorisation given by the annual general meeting of shareholders held on 13 June 2020 (the “Program”). This phase closed on 3 March 2021.

The key terms of the Program are summarised below:

Objectives:
The shares acquired under this Program are intended to meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities, and/or ii) to reduce its share capital.

Maximum amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 650 million which is authorized by’ the resolution of the annual general meeting of shareholders held on 13 June 2020 and applicable market abuse regulations. [1].

Duration: over a period from 15 February 2021 until 31 December 2021.[2]

[1] The Significant Shareholder has declared its intention to enter into a share repurchase agreement with ArcelorMittal, to sell each trading day on which ArcelorMittal has purchased shares under the Program, an equivalent number of shares, at the proportion of the Significant Shareholder’s stake in the Company of 36.34% of issued and outstanding shares of ArcelorMittal, at the same price as the shares repurchased on the market. The effect of the share repurchase agreement is to maintain the Significant Shareholder’s voting rights in ArcelorMittal’s issued share capital (net of treasury shares) at the current level, pursuant to the Program.

[2] On completion of the Program, ArcelorMittal will commence a further share buyback program for an aggregate amount of US$570 million, in-line with the Company’s new capital returns policy announced on 11 February in the Company’s fourth quarter and full year 2020 financial results. Both share buybacks programs will be completed by 31 December 2021. Further details regarding this second share buyback program will be announced ahead of its commencement.

Reporting of transactions in accordance with Market Abuse Regulation

In accordance with Market Abuse Regulation, transactions relating to the US$ 650 million shares buyback program are reported below for a total of 27,113,321 shares outstanding:

Over the period 15 to 19 February 2021 a total of 6,594,513 shares were bought at a weighted average price of EUR 19.56. The detailed statement of own shares dealings made from 15 to 19 February 2021  is available at the following link: PDF

Over the period 22 to 26 February 2021 a total of 7,210,000 shares were bought at a weighted average price of EUR 19.77. The detailed statement of own shares dealings made from 22 to 26 February 2021  is available at the following link: PDF

Over the period 1 to 3 March 2021 a total of 3,455,828 shares were bought at a weighted average price of EUR 20.28. The detailed statement of own shares dealings made from 1 to 3 March 2021 is available at the following link: PDF

According to the share repurchase agreement [1] the Significant shareholder sold to the ArcelorMittal a total of 9,852,980 shares. A detailed information is available at the following LINK

 


Share buyback program 2020

ArcelorMittal announced on 28 September 2020 a share buyback program under the authorisation given by the annual general meeting of shareholders held on 13 June 2020 (the “Program”). 

The key terms of the Program are summarised below:

Objective:
The shares acquired under this Program are intended to meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities, and/or ii) to reduce its share capital.

Maximum amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 500 million in accordance with the resolution of the annual general meeting of shareholders held on 13 June 2020 and applicable market abuse regulations.

Duration: over a period from 28 September 2020 until 31 March 2021.

Reporting of transactions in accordance with Market Abuse Regulation

In accordance with Market Abuse Regulation, transactions relating to the buyback program are reported below:

Over the period 28 September 2020 to 2 October 2020 a total of 7,414,662 shares were bought at a weighted average price of EUR 11.44. The detailed statement of own shares dealings made from 28 September 2020 to 2 October 2020 is available at the following link: PDF

Over the period 5 to 9 October 2020 a total of 176,491 shares were bought at a weighted average price of EUR 11.66. The detailed statement of own shares dealings made from 5 to 9 October 2020 is available at the following link: PDF

Over the period 12 to 16 October 2020 a total of 8,581,177 shares were bought at a weighted average price of EUR 11.93. The detailed statement of own shares dealings made from 12 to 16 October 2020 is available at the following link: PDF

Over the period 19 to 23 October 2020 a total of 9,031,156 shares were bought at a weighted average price of EUR 12.34. The detailed statement of own shares dealings made from 19 to 23 October 2020 is available at the following link: PDF

Over the period 26 to 30 October 2020 a total of 10,432,767 shares were bought at a weighted average price of EUR 11.91. The detailed statement of own shares dealings made from 26 to 30 October 2020 is available at the following link: PDF


Share buyback program 2019

ArcelorMittal announced on 7 February 2019 a share buyback program under the authorisation given by the annual general meeting of shareholders held on 5 May 2015 (the “Program”). 

The key terms of the Program are summarised below:

Objective:
The shares acquired under this Program are intended to meet ArcelorMittal’s obligations arising from employee share programs. 

Maximum amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 113.424 in accordance with the resolution of the annual general meeting of shareholders held on 5 May 2015 and applicable market abuse regulations.

Maximum number of shares to be acquired: 4,000,000 shares, and

Duration: over a period from 11 February 2019 until 31 December 2019.

Reporting of transactions in accordance with Market Abuse Regulation

In accordance with Market Abuse Regulation, transactions relating to the buyback program are reported below:

Over the period 11 February 2019 to 15 February 2019 a total of 4,000,000 shares were bought at a weighted average price of EUR 19,89. 
The detailed statement of own shares dealings made from 11 February 2019 to 15 February 2019 is available at the following link: PDF


Share buyback program 2018

Announcement of the share buyback program prior to the start of trading  

ArcelorMittal announced on 13 March 2018 a share buyback program under the authorisation given by the annual general meeting of shareholders held on 5 May 2015 (the “Program”). 

The key terms of the Program are summarised below:

Objective:
The shares acquired under this Program are intended to meet ArcelorMittal’s obligations arising from:
share options programs, or other allocation of shares, to employees or to members of management including the CEO Office of ArcelorMittal or Group companies

Maximum amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 280,000,000 in accordance with the resolution of the annual general meeting of shareholders held on 5 May 2015 and applicable market abuse regulations.

Maximum number of shares to be acquired: 7,000,000 shares, and

Duration: over a period from 13 March 2018 until 5 May 2020.

Reporting of transactions in accordance with Market Abuse Regulation

In accordance with Market Abuse Regulation, transactions relating to the buyback program are reported below:

Over the period 13 March 2018 to 16 March 2018 a total of 3,343,000 shares were bought at a weighted average price of EUR 26.48. The detailed statement of own shares dealings made from 13 March 2018 to 16 March 2018 is available at the following link: PDF.

Over the period 19 March, 2018 to 23 March, 2018 a total of 3,657,000 shares were bought at a weighted average price of EUR 26.20. The detailed statement of own shares dealings made from 19 March, 2018 to 23 March, 2018 is available at the following link: PDF